Document:

CHINESE-FOREIGN
JOINT VENTURE

 

China-Israel
Biological Technology Co., Ltd.

 

AND

 

Novomic
Ltd.

 

JOINT
VENTURE CONTRACT

 

    	 	 	 

     

    

 

CONTENTS

 

	Chapter
    1	General	3
	Chapter
    2	Parties
    to the Joint Venture Company	3
	Chapter
    3	Joint
    Venture Company	3
	Chapter
    4	Aim
    and Business Scope	4
	Chapter
    5	Total
    Investment and Registered Capital	5
	Chapter
    6	Responsibility
    of the Parties hereto	7
	Chapter
    7	Technical
    Support and Business Cooperation	9
	Chapter
    8	Products
    and Market	10
	Chapter
    9	Board
    of Directors	10
	Chapter
    10	Business
    Management Office	12
	Chapter
    11	Taxes,
    Finance and Audit	13
	Chapter
    12	Labor
    Management and Labor Union	14
	Chapter
    13	Term
    of Joint Venture Company	14
	Chapter
    14	Dissolution
    and Liquidation of the Joint Venture Company	14
	Chapter
    15	Insurance	15
	Chapter
    16	Confidentiality	15
	Chapter
    17	Modification,
    Variation and Termination of the Joint Venture Contract	16
	Chapter
    18	Liability
    for Breach of Contract	16
	Chapter
    19	Force
    Majeure	16
	Chapter
    20	Governing
    Law	16
	Chapter
    21	Dispute
    Resolution	17
	Chapter
    22	Effectiveness
    of the Joint Venture Company Agreement and Miscellaneous	17

 

    	 	2	 

    	 

    

 

Hunan
Novomic Biological Technology Co., Ltd.

JOINT
VENTURE CONTRACT

 

Chapter
1. General

 

THIS
JOINT VENTURE CONTRACT is made and entered into as of January 17, 2019 by China-Israel Biological Technology Co., Ltd.
(“Party A”) and Novomic Ltd., a wholly owned subsidiary of TechCare Corp. (“Party B”),
whereby the parties, after friendly consultation, have all agreed to jointly invest in and set up a Chinese-Foreign equity joint
venture limited liability company (hereinafter referred to as the “Joint Venture Company”) in Changsha, China on the
principle of Equality, Mutual Benefit and Free Will and in accordance with the Law of the People’s Republic of China on
Joint Ventures Using Chinese and Foreign Investment (the “Joint Venture Company Law”), the Rules for the Implementation
of the Law of the People’s Republic of China on Joint Ventures Using Chinese and Foreign Investment (the “Implementation
Rules”) and other applicable laws and regulations.

 

Chapter
2. Parties to the Joint Venture Company

 

	Article
    1 	Parties
    to the Joint Venture Company

 

	1.	The
    parties to the Joint Venture Company are as follows:
	 	 	 
	 	(1)	A,
    China-Israel Biological Technology Co., Ltd., whose registered office is at 15&16F, Building B8, LuGuYuYuan, No. 27
    Wenxuan Road, High-tech Zone, Changsha, China, legal representative is Mr. Huang Qingxi and telephone number is 0731-85154666
    (hereinafter referred to as the “Party A” or the “Chinese Party”);
	 	 	 
	 	(2)	B,
    Novomic Ltd., a wholly owned subsidiary of TechCare Corp., whose registered office is at 23 Hamelacha St., Rosh Ha’in,
    Israel, legal representative is Mr. Zvi Yemini and telephone number is 972-3-7503060 (hereinafter referred to as “Party
    B” or the “Foreign Party”);
	 	 	 
	2.	The
    parties specified in the foregoing paragraph and clauses may be collectively referred to herein as the “parties hereto”.
    The expression “any party” may be used when a reference is made generally to any one of the parties, and the expression
    “other party” may be used when a reference is made generally to other party other than the one in question. In
    addition, Party A may be referred to herein as the “Chinese party”, and Party B may be referred to herein as the
    “Foreign party”.

 

Chapter
3. Joint Venture Company

 

	Article
    2 	Name
    and Address

 

	1.	The
    name of the Joint Venture Company shall be as follows (subject to the name approval by the Government Authority):
	 	 
	 	Draft
Chinese Name: 湖南诺瓦密生物科技有限公司
	 	 
	 	Draft
    English Name: Hunan Novomic Biological Technology., Ltd.
	 	 
	2.	The
    registered office of the Joint Venture Company shall be at 1601-12, 16/F, GuangDianJiLiang Building, LuGuYuYuan, No. 27 Wengxuan
    Road, High-tech Zone, Changsha, China

 

    	 	3	 

    	 

    

 

	Article
    3	Date
    of Formation

 

The
issuing date of the business license when the joint venture company is incorporated shall be the date of the formation of the
Joint Venture Company (“Date of Formation”).

 

	Article
    4	Nature
    of the Company

 

The
joint venture company shall be a Chinese legal person incorporated under the Chinese laws in effect. Its business scope and all
activities shall be governed by and comply with applicable laws and regulations. It shall be entitled to the full protection and
benefit of applicable laws and regulations, including any preferential tax treatment to which it may be entitled under applicable
laws of the People’s Republic of China.

 

	Article
    5	Form
    of Organization

 

	1.	The
    joint venture company shall be a Sino-foreign equity joint venture limited liability company based on the “People’s
    Republic of China Sino-Foreign Joint Venture Law”.
	 	 
	2.	The
    liability of each of the parties hereto for the losses or debts of the Joint Venture Company shall be limited to the obligation
    of its registered capital contribution as set out in Article 8 of this Contract. Provided it makes its registered capital
    contribution in full in accordance with Article 8, no party hereto shall have any further liability to the joint venture company
    or any of its creditors except as may be otherwise expressly assumed by such party in writing.

 

Chapter
4. Aim and Business Scope

 

	Article
    6	Aim

 

The
aim of the joint venture company shall be as follows:

 

The
aim of the joint venture company is to focus on the field of health and cosmetics (including the Medical Care, Home care,
Hair Care and Body/Skin Care, etc.), to develop a comprehensive and broad range of health, wellness, beauty and home products
for customers to make the joint venture become a wide variety of treatment solutions and improve the quality of life of its
customers in the fields of health and cosmetics, with utilizing Party B’s Patent Technology of vaporization of
natural&plant-based compounds (“Patent Technology” means the technology specifically in relation to the
technology specified in Appendix A and Article 10, 2(b) described below), while providing good economic benefits to all
parties involved in the joint venture company, and promote the development of health and cosmetics industry in Greater
China.

 

	Article
    7	Business
    Scope

 

	1.
    	The
    business scope of the Joint Venture Company shall be as follows (subject to the Government Authority approval): The development,
    registration, production and sales of the “Patent Technology” related products (including the health and cosmetics
    field) that are carried out in mainland China, Hong Kong, Macao and Taiwan (collectively referred to as “Greater China”).
	 	 
	2.
    	The
    Joint Venture Company may enlarge and/or modify the business scope upon the approval of or recordation at the competent Examination
    and Approval Authority and by following the procedures as required by applicable Chinese laws and regulations then in effect,
    all with respect to Greater China.
	 	 
	3.
    	The
    Joint Venture Company shall own the exclusive rights within the business scope above mentioned in paragraph 1, Article 7 in
    the Greater China region only. Party B or the third party cooperated with Party B shall not conduct the related or similar
    business with the Joint Venture Company in the Greater China region. Party B shall be free and clear to develop, commercialize
    and sell its products (as well as those of the Joint Venture Company) without limitation anywhere in the world, other than
    in Greater China. The Joint Venture Company shall not sell, license or otherwise conduct any business activities of products
    or services in any regions of the world outside Greater China.

 

    	 	4	 

    	 

    

 

Chapter
5. Initial Investment and Registered Capital

 

	Article
    8 	Initial
    Investment and Registered Capital

 

	1.	At
    the time of incorporation, the initial investment and the registered capital of the Joint Venture Company shall be US$ 1,666,667
    and US$ 1,666,667 respectively.
	 	 
	2.	The
    amount and proportion of each party’s contribution to the registered capital of the Joint Venture Company shall be:
	 	 
	 	(1)	Party
    A shall contribute US$ 1,000,000 in cash, accounting for 60% of the registered capital;
	 	 	 
	 	(2)	Party
    B shall contribute US$ 666,667, accounting for 40% of the registered capital, as described in Article 10 below.

 

	Article
    9 	Capital
    Contribution

 

	1.
    	The
    capital contribution of party A will be made in the form of Chinese Yuan (RMB) in cash.
	 	 
	2.
    	The
    capital contribution of party B will be in the form of U.S. dollars in cash, as described in Article 10 below.
	 	 
	3.
    	If
    either party pays cash in Chinese Yuan (RMB), its RMB to U.S. dollar exchange rate shall be calculated based on the middle
    price quoted by the People’s Bank of China on the trading price of the RMB against the U.S. dollar on the date of contribution.

 

	Article
    10	Deadline
    and Conditions for Capital Contributions

 

	1.	Party
    A shall , according to the Joint Venture Company’s budget contribute US$ 1,000,000 in cash within two (2) years from
    the Date of Formation of the Joint Venture Company, accounting for 60% of the registered capital;
	 	 
	2.	Party
    B shall contribute US$ 666,667 in cash according to the following:

 

(a)
Party B shall submit patent applications in China based on Party B’s technology and patents already approved and in the
process of application, as described in the APPENDIX A, as permitted under applicable law.

 

Party
B shall sign an China Patent Application Right Transfer Agreement with the Joint Venture Company, in which described (i) Party
B shall Transfer the China Patent Application Right to the Joint Venture Company at the value of US$ 666,667; (ii) The Joint Venture
Company shall pay Party B a sum of US$ 666,667 for such transfer within 30 working days after the China Patent application obtained
the Patent Certification issued by SIPO (State Intellectual Property Office of the PRC or its competent local counterpart.)

 

Within
5 working days after Party B get paid by the Joint Venture Company the sum of US$ 666,667, Party B shall pay US$ 666,667 to the
Joint Venture Company, constituting its capital contribution to the Joint Venture Company for all means and purposes.

 

    	 	5	 

    	 

    

 

(b)
Party B shall grant the Joint Venture Company with an exclusive and royalty-free license and right of use to its Technology and
IP Rights and its Existing Patents (as defined below) arising from the Technology and/or in connection therewith, encompassing
all fields, and with respect to Greater China (the “Exclusive License”).

 

The
Exclusive License shall further include all IP Rights conceived, developed and/or generated by the Joint Venture Company and Party
B, based on the Technology (the “Foreground”).

 

The
Exclusive License shall be fully binding on both Parties for an unlimited period, up and until the termination of this Agreement
and liquidation of the Joint Venture Company, pursuant to the terms and provisions set forth herein, if and to the extent applicable.

 

“IP
Rights” shall mean patents, inventions, improvements, modifications and enhancements, technologies, processes, prototypes,
proprietary marks, service marks, trademarks, copyrights, know-how, and any and all other intellectual property rights, whether
or not patentable, copyrightable or protectable as trade secrets and irrespective of whether registered as a patent or copyright,
or not, or constituting a commercial, professional or trade secret and goodwill related thereto and any and all improvements,
developments, enhancements, modifications or derivatives thereof and rights into and thereto.

 

(c)
Party B shall provide the Joint Venture Company with a written confirmation, providing its consent to register its trademarks
in China under the Joint Venture Company.

 

(d)
Party B, collaborated with Joint Venture Company shall submit patent applications, and the Joint Venture shall maintain their
registration and enforce them.

 

	Article
    11	Increase
    of Registered Capital

 

The
Joint Venture Company may increase its registered capital upon unanimous resolution of the Board of Directors of the Joint Venture
Company and the approval of or recordation at the Examination and Approval Authority. The parties hereto shall have the option
to subscribe to the increased amount of the registered capital according to their respective proportion of contribution at the
time of the decision on capital increase. In the event that any party fails to subscribe its proportion of such increase or any
part of it, other party shall have the right to subscribe such proportion of the increment or such part of it. After the approval
or recordation is obtained, the Company shall make the registration of the change in registered capital at the authority.

 

Notwithstanding
anything to the contrary herein, it is agreed that: (i) Party B’s shareholding in the Joint Venture Company shall not be
diluted for any investment in the Joint Venture Company at a pre-money valuation of less than US$10 million; and that (ii) party
B shall maintain at least 20% holdings of the Joint Venture Company’s issued and outstanding share capital, on a fully diluted
basis, until an IPO or an M&A Transaction of the Joint Venture Company.

 

	Article
    12 	Assignment

 

Any
proposed transfer by either party of all or part of its equity interest to a third party is subject to the consent of the other
party (provided that if the other party does not consent, it shall purchase under the same conditions) and shall be submitted
to the examination and approval authorities for approval or recordation; where a party transfers all or part of its equity interest,
the other party shall have a right of first refusal on the same terms with respect to such transfer.

 

    	 	6	 

    	 

    

 

	Article
    13 	Formalities
    for Change of Equity Ownership

 

Subject
to the provisions of Article 11 above, in the event that the equity interest by the parties hereto changes as a result of increase
of registered capital or transfer of equity interest, the Joint Venture Company shall perform the registration formalities for
such change at the original registration authority after the Joint Venture Company’s application for increase of registered
capital or transfer within 90 days of equity interest has been approved or recorded by the Examination and Approval Authority.
The Joint Venture Company shall also issue a new Certificate of Capital Contribution to any party whose share in the Joint Venture
Company has changed.

 

	Article
    14 	Reduction
    of Capital

 

The
Joint Venture Company may reduce its registered capital as provided by applicable law upon unanimous vote of the Board and in
accordance with applicable law.

 

Chapter
6. Responsibility of the Parties hereto

 

	Article
    15 	Close
    Cooperation

 

The
parties hereto shall cooperate closely and make their best effort for the earliest setup and smooth operation of the Joint Venture
Company.

 

	Article
    16	Obligations
    and Responsibilities of the Chinese Party During Formation of the Joint Venture Company

 

In
addition to the other obligations under this Contract, Party A shall bear the following obligations and responsibilities:

 

	1.	The
    Chinese party shall provide all necessary documents relating to itself for the establishment of the Company and all the necessary
    registrations thereafter.
	 	 
	2.	Party
    A shall be responsible for obtaining the necessary approval, registration and recordation from the competent departments of
    the Chinese government for the establishment of the Joint Venture Company, including the business license to make sure the
    Company properly obtains all necessary registrations.
	 	 
	3.	Party
    A shall complete the capital contribution to the Joint Venture Company as per the provisions of Article 8, 9 and 10 of this
    Contract.

 

	Article
    17	Obligations
    and Responsibilities of the Foreign Party During Formation of the Joint Venture Company

 

In
addition to the other obligations under this Contract, Party B shall bear the following obligations and responsibilities:

 

	1.	The
    Foreign party shall provide all necessary documents relating to itself for the establishment of the Company and all the necessary
    registrations thereafter.
	 	 
	2.	The
    Foreign party shall complete its capital contribution to the Joint Venture Company as per the provisions of Article 8, 9 and
    10 of this Contract.

 

    	 	7	 

    	 

    

 

	Article
    18	Obligations
    and Responsibilities of the Chinese Party During Operation of the Joint Venture Company

 

In
addition to their duties and responsibilities as per Article 16 and other articles of this Contract, the Chinese party shall also
undertake the following obligations and responsibilities to ensure smooth operation of the Joint Venture Company:

 

	(1)	To
    assist the Joint Venture Company in obtaining and maintaining approvals necessary for the operation and business of the Joint
    Venture Company, and in the meantime, assist the Joint Venture Company in establishing and maintaining relationship with related
    departments of the Chinese government;
	 	 
	(2)	To
    assist the Joint Venture Company in obtaining preferential treatments that the Joint Venture Company is entitled to according
    to relevant Chinese laws, regulations and rules (including applicable local regulations) in effect;
	 	 
	(3)	To
    assist the Joint Venture Company in purchasing in China the equipment, raw and auxiliary materials, semi-finished products
    and office supplies for its own use in its development and/or production;
	 	 
	(4)	To
    assist the Joint Venture Company or the Foreign party in converting the following types of money into foreign currency and
    remitting outside of China:
	 	 
	 	(a)	Joint
    Venture Company’s lawful payment overseas;
	 	 	 
	 	(b)	Profits
    and other legitimate income that the foreign parties are entitled to.
	 	 	 
	(5)	To
    assist the Joint Venture Company in performing and obtaining all the formalities and approvals necessary for additional investment
    and increase of capital of the Joint Venture Company during the term of the Joint Venture Company;
	 	 
	(6)	Upon
    request of the Joint Venture Company, to assist the Joint Venture Company in recruiting management personnel and staff of
    Chinese nationality with skills and rich experience, and to assist in resolution of labor problems;
	 	 
	(7)	To
    assist the Joint Venture Company in handling the various formalities and arrangements necessary for the entry and exit, work
    permit, living and staying in China of the management personnel and staff of non-Chinese nationalities employed by the Joint
    Venture Company;
	 	 
	(8)	To
    assist the Joint Venture Company in exploring the market, and in popularizing and promoting the Joint Venture Company’s
    products in the Chinese market;
	 	 
	(9)	To
    instruct the directors that they have respectively appointed to promptly attend the meetings of the Board of Directors according
    to the requirements about the procedures of the Board meetings;
	 	 
	(10)	To
    assist in other affairs entrusted to them by the Joint Venture Company.

 

	Article
    19	Obligations
    and Responsibilities of the Foreign Party During Operation of the Joint Venture Company

 

In
addition to their duties and responsibilities as per Article 17 and other articles of this Contract, the Foreign party shall also
undertake the following obligations and responsibilities to ensure smooth operation of the Joint Venture Company:

 

	(1)	To
    negotiate with the Company on the terms and conditions of the contracts and agreements in the principle of honesty and credibility,
    and to execute agreements and contracts after consensus is reached with the Joint Venture Company, in accordance with the
    provisions in Chapter 7 of this Contract regarding technical support and business cooperation;
	 	 
	(2)	According
    to the Term Sheet signed on Dec.6th between party B and ICB Biotechnology Investment ltd, to Transfer the IP Rights
    (as detailed in Section 10 above) in the Great China Region to the Joint Venture Company with respect to the Company’s
    Technology and IP Rights listed in the Appendix A, as agreed by both Parties (including patents, software copyright and registered
    trademarks) to the joint venture.

 

    	 	8	 

    	 

    

 

	(3)	To
    provide necessary sample products for the CFDA application of the Joint Venture Company.
	 	 
	(4)	To
    provide all the necessary documents and information to assist the Joint Venture Company applying for the CFDA license and
    any other products approval required for the Chinese Authority for the sales of the products.
	 	 
	(5)	To
    assist the Joint Venture Company with the clinical trials and all other necessary tests or trials for the CFDA approval. The
    application for CFDA approval shall be submitted by the Joint Venture Entity which shall bear the costs associated therewith.
	 	 
	(6)	To
    make its commercially reasonable efforts to provide necessary technical support services for the Joint Venture Company, including
    but not limited to the subsequent sustainable support for technical research and upgrade, managerial and marketing expertise
    as well as software development services.
	 	 
	(7)	To
    assist the Joint Venture Company for market promotion, and give guidance to the Joint Venture Company’s technical development,
    product production and operation management according to the reasonable requirements of the Joint Venture Company;
	 	 
	(8)	To
    assist the joint venture company in recruiting high quality management personnel and staff of non-Chinese nationality that
    the joint venture company needs;
	 	 
	(9)	To
    assist the joint venture company in handling the various formalities and arrangements necessary for the entry and exit, work
    permit, living and staying in China of the management personnel and staff of non-Chinese nationalities employed by the joint
    venture company;
	 	 
	(10)	To
    assist the joint venture company in training technicians, managers and other staff according to the reasonable requirements
    of the Joint Venture Company;
	 	 
	(11)	To
    assist the joint venture company in purchasing the equipment, raw and auxiliary materials, office supplies and other necessary
    articles for its own use outside of China in its development and/or production;
	 	 
	(12)	To
    assist in other affairs entrusted to them by the joint venture company.

 

Chapter
7. Technical Support and Business Cooperation

 

	Article
    20	Technical
    Support

 

	1.	In
    order to fulfill the aims of the joint venture company as specified in Chapter 4 of this Contract and to maintain the joint
    venture company’s technological leadership and competitiveness in its engaged industry, the parties hereto agree to
    make their commercially reasonable efforts to provide the joint venture company with technical support subject to respective
    agreements between the parties and the joint venture company.
	 	 
	2.	Any
    technology involved in the technical support provided by any party to the joint venture company, if any, shall be that indisputably
    owned by the providing party. Such technology shall also be advanced, practical or conducive to the enhancement of the R&D
    capability of the joint venture company.
	 	 
	3.	After
    the establishment of the Joint Venture Company, according to the “Term Sheet” signed on Dec.6th between
    party B and ICB Biotechnology Investment ltd, Party B shall sign the China IP transfer Agreement with the Joint Venture Company,
    and transfer the China IP rights with respect to the Company’s Technology (including patents, software copyright and
    registered trademarks) to the Joint Venture Company. Party B will support Party A and provide any necessary information if
    Party A will request.
	 	 
	4.	The
    joint venture company shall handle and obtain all necessary approvals and registrations with the competent authorities of
    the PRC government in accordance with the provisions of Chinese laws, regulations, decrees and relevant regulations so as
    to ensure the validity and enforcement of all such contracts in connection with the technology provided by the joint venture
    force;

 

    	 	9	 

    	 

    

 

	Article
    21	Business
    Cooperation

 

After
the establishment of the joint venture company, the Joint Venture Company may sign a lease contract of office and production site
with Party A or Party A’s affiliates, as well as the service contract for providing CFDA registration service if applicable,
GMP certification and China sales market expansion, etc., with Party A or Party A’s affiliates. Agreements or Contracts
between the Joint Venture Company with Party A or Party B should be agreed by the other party in advance.

 

Chapter
8. Products and Market

 

	Article
    22	Product
    Development

 

The
Joint Venture Company shall, according to the needs of the market and the customers, develop new products with independent intellectual
property rights and large products and/or solutions satisfying the needs of its clients by actively giving full play to its advantage
in talents and low cost. In the meantime, the Joint Venture Company shall also make great effort in its R&D of fundamental
technology that accumulates over time, so as to enhance the technical innovation and reserve of the Joint Venture Company and
ensure its technological leadership in the industry.

 

	Article
    23	Market
    Development

 

The
Joint Venture Company and the parties hereto shall cooperate in market development, through which, the parties hereto will, on
a commercially reasonable basis and upon their sole consent, help the Joint Venture Company enhance its adaptability to the changing
market, its judgement on market trend and its ability to take the business opportunity in the market.

 

	Article
    24	Sale
    of Product

 

	1.	The
    Joint Venture Company may sell its products in Greater China region (including mainland China, Hong Kong, Macao and Taiwan)
    directly or through others.
	 	 
	2.	The
    Joint Venture Company shall not sell products in any regions of the world outside Greater China directly, except for the OEM
    products approved in writing by party B which are not included as part of this article binds scope.
	 	 
	3.	The
    Joint Venture Company shall have complete independence in pricing its products. The Joint Venture Company shall add appropriate
    profit on top of the cost, and decide the price of its product by reference to the price level of similar products on the
    Chinese and world market.

 

Chapter
9. Board of Directors

 

	Article
    25	Board
    of Directors

 

	1.	The
    Joint Venture Company shall have a Board of Directors (the “Board of Directors” or “Board”). The date
    of formal establishment of the Board of Directors shall be the Date of election of the members of the board of directors.
	 	 
	2.	The
    Board of Directors shall be the highest authority of the Joint Venture Company and shall decide on all important issues concerning
    the Joint Venture Company.

 

    	 	10	 

    	 

    

 

	Article
    26	Directors

 

	1.	The
    Board of Directors shall be composed of five (5) directors (including chairman), of whom four (4) shall be appointed by A
    and one (1) by B.
	 	 
	2.	The
    term of office of a director shall be four (4) years, which may be renewed if the respective party decides to appoint the
    same person upon expiry of the previous term. Any party may replace its appointed director at any time by giving a fifteen
    (15) days’ notice in writing to each member of the Board of Directors. In case of vacancy as a result of the retirement,
    resignation, illness, loss of capacity to act, or death of any director, such vacancy shall be filled by a successor appointed
    by the appointing party of the director. The term of office of a director appointed as a result of the aforesaid replacement
    or succession shall be the remaining period of the term of his/her predecessor.
	 	 
	3.	The
    term of office of directors of the first Board of Directors shall start from the date of formation of the Board of Directors.

 

	Article
    27	Chairman
    of the Board of Directors 

 

The
Board of Directors shall have one (1) chairman, with the same term of office of four (4) years. The Chairman shall be appointed
by Party A. The Chairman is the legal representative of the Company.

 

	Article
    28	Business
    and Affairs Subject to the Authority of the Board of Directors 

 

Any
resolution in respect of following business and affairs shall be passed by all the directors (Including the director’s agent):

 

	(1)	Amendment
    of the Articles of Association of the Joint Venture Company;
	 	 
	(2)	Change
    in the Joint Venture Company business scope;
	 	 
	(3)	Approval
    of the annual budget or a material deviation therefrom;
	 	 
	(4)	Termination
    and dissolution of the Joint Venture Company in accordance with this Contract;
	 	 
	(5)	Increase
    or reduction of the registered capital;
	 	 
	(6)	Merger,
    division, dismissal or change of company form of the joint venture; Sale of all or substantially all of the assets of the
    Company (including any intellectual property rights).
	 	 
	(7)	Related
    party transactions

 

Other
matters, more than half of the board members can agree to make a resolution.

 

	Article
    29	Meetings
    of the Board of Directors 

 

	1.	The
    meeting of the board of directors shall be held at least once a year, the chairman or the designated director shall inform
    the directors with the written notice about the meeting time, place, and content at ten (10) days prior to the convening of
    the meeting. The chairman of the board of directors may temporarily authorize in written other directors to represent the
    meeting when he fail to perform the duties for some reason. As proposed by more than 1/3 or more of the directors, the chairman
    of the board shall convene an extraordinary meeting of the board of directors, and the meeting time and place shall be determined
    by the chairman of the board. 
	 	 
	2.	If
    a Director is unable to attend any meeting of the Board, such Director may entrust another director to represent him at such
    meeting and to vote at such meeting on his behalf. The proxy so entrusted shall have the same rights and powers as the absent
    Director.
	 	 
	3.	Upon
    the decision of the chairman, members of the board of directors may, in the absence of a meeting, make a resolution in accordance
    with the rules of procedure of article 28 if the board member gives his written consent. Such written consent should be filed
    with the minutes of the Board meeting and shall have the same effect as the minutes of the Board.

 

    	 	11	 

    	 

    

 

	4.	Board
    members may attend board meetings via teleconference or other similar communication device that provides a clear audio effect
    to all attendees. 
	 	 
	5.	The
    Board shall appoint a secretary of the Board to be in charge of the drafting of complete and accurate minutes in English and
    Chinese translation of all meetings (including a copy of the notice of the meeting). Minutes of all meetings of the Board
    shall be circulated to all the Directors as soon as practicable after each meeting but not later than fifteen (15) Days from
    the date of the relevant meeting. Any Director who wishes to propose any amendment or addition thereto shall submit the same
    in writing to the Chairman within seven (7) Days after receipt of the proposed minutes. When finalized by the secretary of
    the Board, the minutes shall be circulated for signature by all the Directors or their respective proxies within twenty-four
    (24) Days after receipt of the proposed minutes. The minutes book shall be kept at the legal address of the Joint Venture
    Company and be available for inspection by any Director or his proxy at any reasonable time. Copies of extracts of such minutes
    book shall be provided to any Director or his proxy upon request.

 

	Article
    30	The
    chairman of the board shall exercise the following powers according to the laws of PRC

 

	1.	Convene,
    preside over the board meeting
	 	 
	2.	Check
    the implementation of the resolutions of the board of directors
	 	 
	3.	Sign
    documents must be signed by the chairman;
	 	 
	4.	Dealing
    with company affairs should be handled by the chairman;
	 	 
	5.	Other
    powers conferred by the board of directors

 

Chapter
10. Business Management Office

 

	Article
    31	Business
    Management Office

 

The
Joint Venture Company shall establish a business management office under the Board of Directors. The business management office
shall be responsible for the daily operation of the Joint Venture Company.

 

	Article
    32	General
    Manager

 

	1.	The
    business management office shall have one (1) general manager, in charge of the company’s day-to-day management and
    operation, including research and development and production. Subject to the consent of all the directors of the Board of
    Directors, the general manager may propose to have other senior management posts if he/she deems necessary.
	 	 
	2.	The
    general manager shall be nominated by A and employed by the JV Company. Party B shall have a right to nominate a vice general
    manager and the scope of services to be provided. 
	 	 
	3.	The
    term of office of the general manager, vice general manager shall be four (4) years, which may be renewed. The term of office
    of the first general manager, vice general managers shall begin from the date of their appointment by the Board of Directors.
    In the event of replacement during the term of office, the term of office of the successor shall be the remaining period of
    the term of office of the predecessor.
	 	 
	4.	Other
    senior management personnel in the business management office shall be recommended by the general manager.

 

    	 	12	 

    	 

    

 

	Article
    33	Duties
    of the General Manager and the Vice General Manager

 

	1.	The
    Joint Venture Company shall adopt a system under which the general manager assumes sole responsibility under the leadership
    of the Board of Directors. The general manager shall be directly accountable to the Board of Directors, execute the decisions
    of the Board of Directors, organize and manage the daily production, technical and business management work of the Joint Venture
    Company.
	 	 
	2.	The
    scope of duties and responsibilities of the general manager shall be as per the Article of Association of the Joint Venture
    Company.
	 	 
	3.	The
    vice general manager, if appointed, shall assist the general manager in his/her work, and a vice general manager may perform
    the duties on behalf of the general manager if the general manager so authorizes.
	 	 
	4.	The
    scope of duties and responsibilities of the vice general manager, other senior management personnel and head of the various
    department shall be specifically determined by the Board of Directors in accordance with relevant Chinese laws and regulations
    in effect and in consideration of the practical needs of the Joint Venture Company.

 

Chapter
11. Taxes, Finance, Audit, Profit Distribution

 

	Article
    34	Tax

 

	1.	The
    Joint Venture Company shall pay taxes in accordance with the provisions of Chinese laws and other relative regulations. 
	 	 
	2.	Staff
    members and workers of the Joint Venture Company shall pay individual income tax according to the Individual Income Tax Law
    of the People’s Republic of China.

 

	Article
    35	Finance

 

	1.	The
    fiscal year of the Joint Venture Company shall be from January 1 to December 31. All vouchers, receipts, statements and reports
    shall be written in Chinese. The statements shall also be made in English. 

 

	Article
    36	Audit

 

	1.	Financial
    checking and examination of the Joint Venture Company shall be conducted by an auditor registered in China and reports shall
    be submitted to the Board of Directors and the general manager. In case party B considers it necessary to employ other Chinese
    auditors to undertake annual financial audit, it shall be entitled to do so, but all the expenses thereof shall be borne by
    party B.
	 	 
	2.	In
    the first 45 days of each fiscal year, the manager shall prepare the previous year’s balance sheet, profit and loss
    statement and proposal regarding the disposal of profits, and submit them to the Board of Directors for examination and approval.
    

 

    	 	13	 

    	 

    

 

	Article
    37	Profit
    Distribution

 

	1.	The
    Joint Venture Company shall determine the amount of the distributable after-tax profit for each fiscal year in accordance
    with the accounting rules. Before distribution of the after-tax profit, sums shall be set aside for the reserve fund, enterprise
    development fund and employee bonus and welfare fund according the percentages determined by the Board of Directors as set
    forth in this Contract.
	 	 
	2.	The
    Joint Venture Company shall distribute the profit after payment of the income tax and setting aside the sums for the various
    funds according to the profit distribution scheme determined unanimously by the members of the Board of Directors. 
	 	 
	3.	The
    distribution of profits or losses determined by the Board of Directors shall accord to the current proportion of capital contribution
    of all the parties. 
	 	 
	4.	The
    profit distribution of the Joint Venture Company shall be implemented in accordance with the Company Law, the relevant laws
    and regulations and regulations of the financial department of the State Council. However, within five (5) years after the
    establishment of the Joint Venture Company, the dividend payout ratio in principle shall not exceed 50% of the net profit
    of the current year, unless determined otherwise by unanimous decision of all the board members, and the retained profits
    will be used to expand market exploration, operation and scale development.

 

Chapter
12. Labor Management and Labor Union

 

	Article
    38	Labor
    Management

 

Affairs
such as the employment, dismissal, salary, welfare, reward/penalty, labor insurance, labor discipline and labor protection of
the employees shall be handled by the Joint Venture Company in accordance with the Labor Law of the People’s Republic of
China. The Joint Venture Company shall support the staff to set up the Labor Union in accordance with the Labor Union Law of the
People’s Republic of China and the Labor Union Constitution of the People’s Republic of China.

 

Chapter
13. Term of Joint Venture Company

 

	Article
    39	Term
    of Joint Venture Company

 

The
Term of Joint Venture Company shall be fifty (50) years (unless earlier terminated or dissolved in accordance with this Contract
and the Articles of Association), starting from the date of incorporation of the Joint Venture Company, also referred to as the
Date of Formation.

 

	Article
    40	Extension
    of the Term of Joint Venture Company

 

The
parties hereto, if all agree to the extension of the Term of Joint Venture Company, shall file the extension application with
the Examination and Approval Authority six (6) months before expiration of the Term of Joint Venture Company.

 

Chapter
14. Dissolution and Liquidation of the Joint Venture Company

 

	Article
    41	Dissolution
    of the Company

 

In
any of the following cases, the parties hereto shall be obligated to dissolve and liquidate the Joint Venture Company:

 

	(1)	The
    Term of Joint Venture Company expires without extension;
	 	 
	(2)	The
    Joint Venture Company has suffered serious loss, and then unable to continue to operate; 
	 	 
	(3)	 If
    one party of the Joint Ventures Company fails to fulfill its obligation as stipulated in this Contract and Articles of Association,
    which lead to the Joint Venture Company inability to continue its operation;
	 	 
	(4)	Due
    to natural disasters, war and other force majeure the Joint Venture Company suffers serious losses and cannot continue to
    operate;
	 	 
	(5)	The
    Joint Venture Company did not achieve its business objectives and do not have a development future;
	 	 
	(6)	Other
    reasons for dissolution unanimously approved by the Board of Directors.
	 	 
	(7)	Failure
    by one party to comply with its undertakings pursuant to the provisions of this Agreement and the Articles of Association
    of the Company.

 

    	 	14	 

    	 

    

 

	Article
    42	Liquidation

 

When
the Joint Venture Company is declared to be dissolved, the Joint Venture Company shall liquidate according to the law and the
remaining assets after the liquidation shall be distributed according to the shareholding of parties in the JV by then, subject
to the provisions of Article 11 above, at the fair value.

 

Chapter
15. Insurance

 

	Article
    43	Insurance

 

The
general manager shall be responsible for maintaining the various insurance of the Joint Venture Company according to the standards
determined by the Board of Directors of the Joint Venture Company in accordance with applicable law.

 

Chapter
16. Confidentiality

 

	Article
    44	Confidentiality

 

	1.	Both
    during the Term of Joint Venture Company and after termination of this Contract, the parties hereto shall keep confidential
    this Contract and such information as the technical secrets, business operation information, customer name list, sales and
    financial information and materials that have not been made public under this Contract (“Confidential Information”).
    No party shall use any Confidential Information of another party for its own purposes or any purpose other than implementing
    the Joint Venture Company’s business. However, the foregoing shall not apply to the following cases:

 

	 	(1)	Disclosure
    which is mandatory under any applicable law, including securities regulations, or court order or which is required for the
    Joint Venture Company to obtain any necessary approval;
	 	 	 
	 	(2)	Such
    information and/or materials have become known to the public, other than a direct or indirect result of disclosure by one
    of the parties;
	 	 	 
	 	(3)	Such
    information and/or materials have been lawfully received from a third party that has no obligation for confidentiality.

 

Each
party shall abide by these obligations of confidentiality and non-use for so long as the Joint Venture Company continues to exist,
and for three (3) years thereafter, whether or not such party retains an equity interest in the Joint Venture Company.

 

	2.	The
    Joint Venture Company shall cause its employees, agents and subcontractors, and each party shall cause its directors, staff
    and other employees, and those of its subsidiaries and affiliates with access to Confidential Information (collectively, “Party
    Personnel”), to be bound by and comply with the obligations set out in this Article. To this effect, an undertaking
    of secrecy and non-use, in form and substance consistent with the obligations and intent of this Article, shall be included
    in each labor or service contract signed by any Joint Venture Company director, employee, agent or representative or by any
    Party Personnel. If any Party Personnel breaches this undertaking, the relevant party shall be jointly liable with such Party
    Personnel.

 

    	 	15	 

    	 

    

 

Chapter
17. Modification, Variation and Termination of the Joint Venture Contract

 

	Article
    45	Modification
and Variation

 

Any
amendment of this Contract shall be subject to the joint written approval of all parties to this Contract. When modifying or amending
this Contract, in addition to executing a modification or amendment contract in writing, the parties hereto shall also record
the date of modification or amendment and the expression “agreed upon by all the parties hereto after friendly consultation”
on the updated contract after modification or amendment. Such modified or amended contract shall be restated in its entirety as
modified or amended in Chinese and English, and take effect after getting approval by the original examination and approval authority.

 

	Article
    46	Termination

 

This
Contract shall terminate upon expiration of the Term of Joint Venture Company, after completion of the liquidation procedures
in case of dissolution of the Joint Venture Company, or when the Joint Venture Company ceases to be in compliance with the requirements
of the Joint Venture Law for the existence of a Chinese Foreign equity Joint Venture Company.

 

Chapter
18. Liability for Breach of Contract

 

	Article
    47	Liability

 

Notwithstanding
anything to the contrary, if any party breaches any provision of this Contract or the Articles of Association and such breach
has not been remedied within 14 days following the receipt of the non-breaching party’s written notice to that effect, results
in direct loss or damage to any other party or the Joint Venture Company, the breaching party shall be liable for all such direct
losses and damages and shall promptly compensate in full the injured party and the Joint Venture Company, as the case may be.

 

Chapter
19. Force Majeure

 

	Article
    48	Force
    Majeure

 

If
the performance of obligations under this Contract is directly impacted by or the obligations are prevented from being performed
to the stipulated standard by earthquake, typhoon, flood, fire, war, riot, or any other Force Majeure events the occurrence and
consequence of which are unforeseeable, unstoppable or unavoidable, the party suffering such events shall be relieved of its obligations
to the extent that and in the period when performance of such obligations is impossible as a result of such events for a period
not to exceed 120 days in the aggregate, provided that it shall promptly advise other parties hereto in writing and submit a detailed
report within fifteen (15) days. This report must explain the reason for its inability to perform or the reason for the postponement
of the performance.

 

Chapter
20. Governing Law

 

	Article
    49	Governing
    Law

 

The
execution, effect, interpretation, and performance of this Contract shall be governed by and construed in accordance with the
laws and regulations of China.

 

    	 	16	 

    	 

    

 

Chapter
21. Dispute Resolution

 

	Article
    50	Arbitration
    

 

	1.	Any
    dispute arising out of or in connection with the Interpretation and performance of this Contract shall be settled through
    friendly consultations between the parties.
	 	 
	2.	When
    the dispute occurred in the preceding paragraph and upon sixty (60) days after one party’s written notice of the dispute
    to the other party has not resolved, then the dispute should be taken the form of arbitration to resolve.
	 	 
	3.	Any
    such dispute shall be submitted for arbitration to the Hong Kong International Arbitration Center (“Arbitration Center”),
    in accordance with its rules and procedures. The arbitration shall be heard by one arbitrator selected in accordance with
    such rules. The arbitration language shall be English. 
	 	 
	4.	The
    arbitral award is final and binding on both parties, all parties must strictly enforce the arbitral award.
	 	 
	5.	When
    arbitration occurs, for obligations of the parties to the Joint Venture Company other than this controversial part, must continue
    to fulfill.

 

Chapter
22. Effectiveness of the Joint Venture Contract and Miscellaneous

 

	Article
    51	Interpretation

 

In
case of any inconsistency or conflict between this Contract and the Articles of Association of the Joint Venture Company or the
provisions of any annex to this Contract, this Contract shall prevail. Areas not covered in this Contract shall be governed by
relevant provisions in the Articles of Association and related contracts and agreements.

 

	Article
    52	Notices

 

	1.	Any
    notice or written correspondence given hereunder between the Joint Venture Company and the parties or among the parties shall
    be served to the registered offices and the legal representatives as set out in Article 1 of this Contract. Any change of
    registered office or legal representative shall be notified to the Joint Venture Company and the parties hereto in writing
    within ten (10) days after such change.
	 	 
	2.	If
    any party has failed to give notice on the change of its registered office or legal representative, and as a result, any notice
    sent to the former registered office or legal representative by the Joint Venture Company or any other parties (to whom such
    notice on change should be sent) has failed to be served, the party that has failed to send the notice on change shall be
    liable to the consequence of the failure of service.

 

	Article
    53	Languages
    and Copies

 

	1.	This
    Contract shall be made in Chinese and English. The two versions shall have the same legal effect. 
	 	 
	2.	This
    Contract shall be executed in five (5) originals. The parties hereto and the Joint Venture Company each shall keep one (1)
    copy, and the remaining two (2) copies shall be used when applying to the Examination and Approval Authority and the registration
    authority for approval and registration.

 

	Article
    54	Execution

 

This
Contract shall be executed by duly authorized representatives of the parties hereto.

 

	Article
    55	Effective
    Date

 

The
Contract shall take effect as of the date of approval by the examination and approval authority of the Chinese government or granting
date of the business license of the Joint Venture Company. Both party A and party B should support and cooperate with the immaterial
adjustments to the Joint Venture Contract required by the examination and approval authority’s requirement.

 

    	 	17	 

    	 

    

 

This
Contract is hereby executed by the duly authorized representatives of the parties on the date set out above.

 

Party
A:

 

	China-Israel
    Biological Technology Co., Ltd.
	 	 
	/s/
    Mr. Huang Qingxi	 
	Legal
    Representative: Mr. Huang Qingxi 	 

 

Party
B:

 

	Novomic
    Ltd. (a wholly owned subsidiary of TechCare Corp.)
	 	 
	/s/
    Mr. Zvi Yemini	 
	Legal
    Representative: Mr. Zvi Yemini 	 

 

    	 	18	 

    	 

    

 

APPENDIX
A - PARTY B’S PATENT STATUS

 

	Patent
    No.	 	Patent
    Type	 	Description	 	Status
	EP2438830B1	 	EU
    Patent	 	Treating
    lice with gaseous compounds in an airtight space	 	Issued
    on July 16, 2014
	US9307820B2	 	US
    Patent	 	Treating
    lice with gaseous compounds in an airtight space	 	Issued
    on April 12, 2016
	15438842	 	US
    Patent 

    Application	 	Treating
    an object with a gaseous compound in an airtight space	 	Submitted
    on February 22, 2017
	62661868	 	Provisional	 	A
    capsule for the vaporization of Fluid	 	Submitted
    on April 25, 2018

 

    	 	19wecenergygroupexhibit101

                                                                      Exhibit 10.1                              [WEC Energy Group Letterhead]      January 17, 2019      Mr. Gale Klappa  [ADDRESS]  [ADDRESS]     Dear Gale:    This letter will confirm compensation and benefits to be provided to you for services as Executive Chair  of WEC Energy Group.    2019 Compensation    Your annual base salary will be $1,000,000.  In addition to your salary, you will be eligible for annual  incentive compensation with a target value of 100 percent of base pay.  Both your annual salary and  incentive opportunity will be prorated to reflect the date you assume the role of Executive Chair.      You also will participate in the long-term incentive plan.  The award, which was granted in January, had  a target value of 100 percent of base pay and was comprised of 80 percent restricted stock vesting one  year from the date of grant and 20 percent stock options vesting in accordance with the standard terms  and conditions.      Additional Benefits    You will be eligible to participate in all other benefits available to other senior executives of the  company.  All benefits described above which are further defined in plan documents are subject to all of  the terms in those documents which supersede any other description.  Management reserves the right in  its discretion to change or terminate all current benefit plans or practices and other policies and  procedures.  Finally, your employment would be considered at-will.    Gale, I appreciate your continued willingness to support the company.  Your proven strategic insights  and knowledge of the industry will help ensure continued success for WEC Energy Group.    Sincerely,    /s/ John F. Bergstrom    John F. Bergstrom  Chair, WEC Energy Group Compensation Committee                                __________________    I have reviewed and accept this offer of employment.    Signature:  /s/ Gale E, Klappa            Date: 01/17/2019

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]