Document:

Exhibit 10.3

 

股权质押协议

EQUITY
INTEREST PLEDGE AGREEMENT

 

本股权质押协议(下称“本协议”)由下列各方于[  ]年[  ]月[   ]日在中华人民共和国(下称“中国”)[  ]签订:

This
Equity Interest Pledge Agreement (this “Agreement”) has been executed by and among the following parties on [  ] [  ], [  ] in [  ], the People’s Republic of China (“China” or the “PRC”):

 

	甲方: [   ]	(下称“质权人”),一家依照中国法律设立和存在的外商独资公司,地址为[  ] ;
	 	 
	Party A: [  ]	(hereinafter
“Pledgee”), a wholly foreign owned enterprise, organized and existing under the laws of the PRC, with its address
at [  ];

 

	乙方:	[   ] (下称“出质人”),一位中国公民,其身份证号码:[  ];及
	Party B:	[  ] (hereinafter
“Pledgor”), a Chinese citizen with Chinese Identification No.: [  ]; and

 

	 	丙方: 安徽奥凯发油脂科技股份有限公司,一家依照中国法律设立和存在的股份有限公司,地址为安徽省六安市舒城县汤池镇舒河路。

	Party
    C: 	Anhui Aokai Fa Grease
Technology Co., Ltd., a joint stock limited company organized and existing under the laws of the PRC, with its address at
Shuhe Road, Tangchi Town, Shucheng County, LuAn City, Anhui Province.

 

在本协议中,质权人、出质人和丙方以下各称“一方”,合称“各方”。

In
this Agreement, each of Pledgee, Pledgor and Party C shall be referred to as a “Party” respectively, and they shall
be collectively referred to as the “Parties”.

 

鉴于:

Whereas:

 

1. 出质人是中国公民,在本协议签署日,持有丙方[      ]%的股权,代表丙方注册资本人民币[   ]万元。丙方是一家在中国北京注册成立的、从事咨询和服务业务的股份有限公司。丙方有意在此确认出质人和质权人在本协议下的权利和义务并提供必要的协助登记该质权;

Pledgor
is a citizen of China who as of the date hereof holds [  ]% of equity interests of Party C, representing RMB[  ] in the registered
capital of Party C. Party C is a joint stock limited company registered in Beijing, China, engaging in consulting and service
business. Party C acknowledges the respective rights and obligations of Pledgor and Pledgee under this Agreement, and intends
to provide any necessary assistance in registering the Pledge;

 

2. 质权人是一家在中国注册的外商独资企业。质权人与出质人所部分拥有的丙方于[  ]签订了独家业务合作协议(定义见下文);质权人与出质人、丙方签订了独家购买权协议(定义见下文);出质人签署了授权质权人的授权委托书(定义见下文);

Pledgee
is a wholly foreign-owned enterprise registered in China. Pledgee and Party C which is partially owned by Pledgor have executed
an Exclusive Business Cooperation Agreement (as defined below) in [  ]; Party C, Pledgee and Pledgor have executed an Exclusive
Option Agreement (as defined below); Pledgor has executed a Power of Attorney (as defined below) in favor of Pledgee;

 

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3. 为了保证丙方和出质人履行独家业务合作协议、独家购买权协议和授权委托书项下的义务,出质人以其在丙方中拥有的全部股权向质权人就丙方和出质人履行独家业务合作协议、独家购买权协议和授权委托书项下的义务做出质押担保。

To
ensure that Party C and Pledgor fully perform their obligations under the Exclusive Business Cooperation Agreement, the Exclusive
Option Agreement and the Power of Attorney, Pledgor hereby pledges to the Pledgee all of the equity interest that Pledgor holds
in Party C as security for Party C’s and Pledgor’s obligations under the Exclusive Business Cooperation Agreement,
the Exclusive Option Agreement and the Power of Attorney.

 

为了履行交易文件的条款,各方商定按照以下条款签订本协议。

To
perform the provisions of the Transaction Documents (as defined below), the Parties have mutually agreed to execute this Agreement
upon the following terms.

 

		1.	定义

		Definitions	

 

除非本协议另有规定,下列词语含义为:

Unless
otherwise provided herein, the terms below shall have the following meanings:

 

		1.1	质权:指出质人根据本协议第2条给予质权人的担保物权,即指质权人所享有的,以出质人质押给质权人的质押股权折价或拍卖、变卖该质押股权的价款优先受偿的权利。

Pledge:
shall refer to the security interest granted by Pledgor to Pledgee pursuant to Section 2 of this Agreement, i.e., the right of
Pledgee to be paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted
into or from the proceeds from auction or sale of the Equity Interest.

 

		1.2	质押股权:指出质人现在持有的丙方[   ]%的股权,代表丙方注册资本人民币[   ]万元,以及其将来持有的在丙方的全部股权权益。

Equity
Interest: shall refer to [   ]% equity interests in Party C currently held by Pledgor, representing RMB[   ] in the registered capital
of Party C, and all of the equity interest hereafter acquired by Pledgor in Party C.

 

		1.3	质押期限:指本协议第3条规定的期间。

Term
of Pledge: shall refer to the term set forth in Section 3 of this Agreement.

 

		1.4	交易文件:指丙方与质权人于[  ]年[  ]月[  ]日签订的的独家业务合作协议(“独家业务合作协议”);出质人、丙方与质权人于[  ]年[  ]月[   ]日签订的独家购买权协议(“独家购买权协议”)和出质人于[   ]年[   ]月[   ]日签署的授权委托书(“授权委托书”),以及对前述文件的任何修改、修订和/或重述。

Transaction
Documents: shall refer to the Exclusive Business Cooperation Agreement executed by and between Party C and Pledgee on [  ] [  ],
[  ] (the “Exclusive Business Cooperation Agreement”), the Exclusive Option Agreement executed by and among Party C,
Pledgee and Pledgor on [  ] [  ], [  ] (the “Exclusive Option Agreement”), Power of Attorney executed on [  ] [  ], [  ]
by Pledgor (the “Power of Attorney”) and any modification, amendment and restatement to the aforementioned documents.

 

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		1.5	合同义务:指出质人在独家购买权协议、授权委托书和本协议项下所负的所有义务;丙方在独家业务合作协议、独家购买权协议、和本协议项下所负的所有义务。

Contract
Obligations: shall refer to all the obligations of Pledgor under the Exclusive Option Agreement, the Power of Attorney and this
Agreement; all the obligations of Party C under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement and
this Agreement.

 

		1.6	担保债务:指质权人因出质人和/或丙方的任何违约事件而遭受的全部直接、间接、衍生损失和可预计利益的丧失。该等损失的金额的依据包括但不限于质权人合理的商业计划和盈利预测、丙方在独家业务合作协议项下应支付的服务费用,及质权人为强制出质人和/或丙方执行其合同义务而发生的所有费用。

Secured
Indebtedness: shall refer to all the direct, indirect and derivative losses and losses of anticipated profits, suffered by Pledgee,
incurred as a result of any Event of Default of Pledgor and/or Party C. The factors for determining the amount of such loss shall
include without limitation the reasonable business plan and profit forecast of Pledgee, the consulting and service fees payable
by Party C to Pledgee under the Exclusive Business Cooperation Agreement, all expenses occurred in connection with enforcement
by Pledgee of Pledgor’s and/or Party C’s Contract Obligations and etc.

 

		1.7	违约事件:指本协议第7条所列任何情况。

Event
of Default: shall refer to any of the circumstances set forth in Section 7 of this Agreement.

		1.8	违约通知:指质权人根据本协议发出的宣布违约事件的通知。

Notice
of Default: shall refer to the notice issued by Pledgee in accordance with this Agreement declaring an Event of Default.

		2.	质权

Pledge

 

		2.1	出质人兹同意将质押股权按照本协议的约定出质给质权人作为履行合同义务和偿还担保债务的担保。丙方兹同意出质人按照本协议的约定将质押股权出质给质权人。

Pledgor
agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness
under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement.

 

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		2.2	在质押期限内,质权人有权收取质押股权所产生的红利或股利。在质权人事先书面同意的情况下,出质人方可就质押股权而分得股利或分红。出质人因质押股权而分得的股利或分红在扣除出质人缴纳的个人所得税后应根据质权人的要求(1)存入质权人的指定帐户内,受质权人监管,并用于担保合同义务和首先清偿担保债务;或者(2)在不违反中国法律的前提下,将此等红利、股利无条件地赠送给质权人或质权人指定的人。

During
the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends
distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest
after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated
and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference
to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted
under applicable PRC laws.

 

		2.3	在质权人事先书面同意的情况下,出质人方可对丙方增资。出质人因对公司增资而在公司注册资本中增加的出资额亦属于质押股权。

Pledgor
may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor
as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity
Interest.

 

		2.4	如丙方根据中国法律的强制性规定需予以解散或清算,出质人在丙方依法完成解散或清算程序后,从丙方依法分配的任何利益,应根据质权人的要求(1)存入质权人的指定帐户内,受质权人监管,并用于担保合同义务和首先清偿担保债务;或者(2)在不违反中国法律的前提下,无条件地赠予质权人或质权人指定的人。

In
the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s
dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by
Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other
payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable
PRC laws.

 

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		3.	质押期限

Term
of Pledge

 

		3.1	本质权自本协议项下的质押股权出质在相应的工商行政管理机关登记之日起生效,质权有效期持续到所有合同义务履行完毕和所有的担保债务支付完毕为止。出质人和丙方应(一)自本协议签署之日起3个工作日内,将本协议的质权登记在丙方股东名册上,并(二)自本协议签署之日起15个工作日内向相应的工商行政管理机关申请登记本协议项下的质权。各方共同确认,为办理股权质押工商登记手续,各方及丙方其他股东应将本协议或者一份按照丙方所在地工商行政管理部门要求的形式签署的、真实反映本协议项下质权信息的股权质押合同(以下简称“工商登记质押合同”)提交给工商行政管理机关,工商登记质押合同中未约定事项,仍以本协议约定为准。出质人和丙方应当按照中国法律法规和有关工商行政管理机关的各项要求,提交所有必要的文件并办理所有必要手续,保证质权在递交申请后尽快获得登记。

The
Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant
administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations
have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge
in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit
an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 15 business days
following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties
hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the
form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC
Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of
this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by
the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the
AIC as soon as possible after submission for filing.

 

		3.2	质押期限内,如出质人和/或丙方未履行合同义务或支付担保债务,质权人有权但无义务按本协议的规定行使质权。

During
the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness,
Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

 

		4.	质权凭证的保管

Custody
of Records for Equity Interest subject to Pledge

 

		4.1	在本协议规定的质押期限内,出质人应在本协议签订之日起一周内将其在丙方的股权出资证明书及记载质权的股东名册交付质权人保管。质权人将在本协议规定的全部质押期间一直保管这些文件。

During
the Term of Pledge set forth in this Agreement, Pledgor shall deliver to Pledgee’s custody the capital contribution certificate
for the Equity Interest and the shareholders’ register containing the Pledge within one week from the execution of this
Agreement. Pledgee shall have custody of such documents during the entire Term of Pledge set forth in this Agreement.

 

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		5.	出质人和丙方的陈述和保证

Representations
and Warranties of Pledgor and Party C

出质人和丙方特此在本协议签署之日向质权人共同及分别陈述和保证如下:

As
of the execution date of this Agreement, Pledgor and Party C hereby jointly and severally represent and warrant to Pledgee that:

 

		5.1	出质人是质押股权唯一的合法所有人。

Pledgor
is the sole legal and beneficial owner of the Equity Interest.

		5.2	质权人有权以本协议规定的方式处分并转让质押股权。

Pledgee
shall have the right to dispose of and transfer the Equity Interest in accordance with the provisions set forth in this Agreement.

		5.3	除本质权之外,出质人未在质押股权上设置任何其他质押权利或其他担保权益。

Except
for the Pledge, Pledgor has not placed any security interest or other encumbrance on the Equity Interest.

 

		5.4	出质人和丙方已经取得政府部门和第三方的同意及批准(若需)以签署,交付和履行本协议。

Pledgor
and Party C have obtained any and all approvals and consents from applicable government authorities and third parties (if required)
for execution, delivery and performance of this Agreement.

 

		5.5	本协议的签署、交付和履行均不会:(i)导致违反任何有关的中国法律;(ii)与丙方章程或其他组织文件相抵触;(iii)导致违反其是一方或对其有约束力的任何合同或文件,或构成其是一方或对其有约束力的任何合同或文件项下的违约;(iv)导致违反有关向任何一方颁发的任何许可或批准的授予和(或)继续有效的任何条件;或(v)导致向任何一方颁发的任何许可或批准中止或被撤销或附加条件。

The
execution, delivery and performance of this Agreement will not: (i) violate any relevant PRC laws; (ii) conflict with Party C’s
articles of association or other constitutional documents; (iii) result in any breach of or constitute any default under any contract
or instrument to which it is a party or by which it is otherwise bound; (iv) result in any violation of any condition for the
grant and/or maintenance of any permit or approval granted to any Party; or (v) cause any permit or approval granted to any Party
to be suspended, cancelled or attached with additional conditions.

 

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		6.	出质人和丙方的承诺

Covenants
of Pledgor and Party C

 

		6.1	在本协议存续期间,出质人和丙方共同和分别向质权人承诺:

During
the term of this Agreement, Pledgor and Party C hereby jointly and severally covenant to the Pledgee:

 

		6.1.1	除履行交易文件外,未经质权人事先书面同意,出质人不得转让质押股权或其任何部分,不得在质押股权上设立或允许存在任何担保或其他债务负担;

Pledgor
shall not transfer the Equity Interest, place or permit the existence of any security interest or other encumbrance on the Equity
Interest or any portion thereof, without the prior written consent of Pledgee, except for the performance of the Transaction Documents;

 

		6.1.2	出质人和丙方遵守并执行所有有关权利质押的法律、法规的规定,在收到有关主管机关就质权发出或制定的通知、指令或建议时,于五(5)日内向质权人出示上述通知、指令或建议,同时遵守上述通知、指令或建议,或按照质权人的合理要求或经质权人同意就上述事宜提出反对意见和陈述;

Pledgor
and Party C shall comply with the provisions of all laws and regulations applicable to the pledge of rights, and within five (5)
days of receipt of any notice, order or recommendation issued or prepared by relevant competent authorities regarding the Pledge,
shall present the aforementioned notice, order or recommendation to Pledgee, and shall comply with the aforementioned notice,
order or recommendation or submit objections and representations with respect to the aforementioned matters upon Pledgee’s
reasonable request or upon consent of Pledgee;

 

		6.1.3	出质人和丙方应将任何可能导致对质押股权或其任何部分的权利产生影响的事件或收到的通知,以及可能改变出质人在本协议中的任何保证、义务或对出质人履行其在本协议中义务可能产生影响的任何事件或收到的通知及时通知质权人。

Pledgor
and Party C shall promptly notify Pledgee of any event or notice received by Pledgor and Party C that may have an impact on the
Equity Interest or any portion thereof, as well as any event or notice received by Pledgor and Party C that may change any guarantees
or obligations or may have an impact on any performance of obligations of Pledgor arising out of this Agreement.

 

		6.1.4	丙方应在其经营期限届满前三(3)个月内办理完成延长经营期限的登记手续,以使本协议的效力得以持续。

Party
C shall complete the registration procedures for extension of the term of operation within three (3) months prior to the expiration
of such term to maintain the validity of this Agreement.

 

		6.2	出质人同意,质权人按本协议条款取得的对质权享有的权利,不应受到出质人或出质人的继承人或出质人之委托人或任何其他人通过法律程序的中断或妨害。

Pledgor
agrees that the rights acquired by Pledgee in accordance with this Agreement with respect to the Pledge shall not be interrupted
or harmed by Pledgor or any heirs or representatives of Pledgor or any other persons through any legal proceedings.

 

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		6.3	出质人向质权人保证,为保护或完善本协议对合同义务和担保债务的担保,出质人将诚实签署、并促使其他与质权有利害关系的当事人签署质权人所要求的所有的权利证书、契约和/或履行并促使其他有利害关系的当事人履行质权人所要求的行为,并为本协议赋予质权人之权利、授权的行使提供便利,与质权人或其指定的人(自然人/法人)签署所有的有关质押股权所有权的文件,并在合理期间内向质权人提供其认为需要的所有的有关质权的通知、命令及决定。

To
protect or perfect the security interest granted by this Agreement for the Contract Obligations and Secured Indebtedness, Pledgor
hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates,
agreements, deeds and/or covenants required by Pledgee. Pledgor also undertakes to perform and to cause other parties who have
an interest in the Pledge to perform actions required by Pledgee, to facilitate the exercise by Pledgee of its rights and authority
granted thereto by this Agreement, and to enter into all relevant documents regarding ownership of Equity Interest with Pledgee
or designee(s) of Pledgee (natural persons/legal persons). Pledgor undertakes to provide Pledgee within a reasonable time with
all notices, orders and decisions regarding the Pledge that are required by Pledgee.

 

		6.4	出质人向质权人保证,出质人将遵守、履行本协议项下所有的保证、承诺、协议、陈述及条件。如出质人不履行或不完全履行其保证、承诺、协议、陈述及条件,出质人应赔偿质权人由此遭受的一切损失。

Pledgor
hereby undertakes to comply with and perform all guarantees, promises, agreements, representations and conditions under this Agreement.
In the event of failure or partial performance of its guarantees, promises, agreements, representations and conditions, Pledgor
shall indemnify Pledgee for all losses resulting therefrom.

 

		7.	违约事件

Event
of Breach

 

		7.1	下列事项均被视为违约事件:

The
following circumstances shall be deemed Event of Default:

 

		7.1.1	出质人对其在交易文件及/或本协议项下的任何义务的违反;

Pledgor’s
any breach to any obligations under the Transaction Documents and/or this Agreement.

		7.1.2	丙方对其在交易文件及/或本协议项下的任何义务的违反。

Party
C’s any breach to any obligations under the Transaction Documents and/or this Agreement.

 

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		7.2	如知道或发现本第7.1条所述的任何事项或可能导致上述事项的事件已经发生,出质人和丙方应立即以书面形式通知质权人。

Upon
notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described
in Section 7.1, Pledgor and Party C shall immediately notify Pledgee in writing accordingly.

 

		7.3	除非第7.1条下的违约事件在质权人向出质人和/或丙方发出要求其修补此违约行为通知后的二十(20)天之内已经按质权人要求获得救济,质权人在其后的任何时间,可向出质人发出书面违约通知,要求依据第8条行使质权。

Unless
an Event of Default set forth in this Section 7.1 has been successfully resolved to Pledgee’s satisfaction within twenty
(20) days after the Pledgee and /or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default,
Pledgee may issue a Notice of Default to Pledgor in writing at any time thereafter, demanding the Pledgor to immediately exercise
the Pledge in accordance with the provisions of Section 8 of this Agreement.

 

		8.	质权的行使

Exercise
of Pledge

 

		8.1	在质权人行使其质押权利时,质权人应向出质人发出书面违约通知。

Pledgee
shall issue a written Notice of Default to Pledgor when it exercises the Pledge.

		8.2	受限于第7.3条的规定,质权人可在按第8.1条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时,出质人即不再拥有任何与质押股权有关的权利和利益。

Subject
to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice
of Default in accordance with Section 8.1. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any
rights or interests associated with the Equity Interest.

		8.3	质权人有权在根据第8.1条发出违约通知后,行使其根据中国法律、交易文件及本协议条款而享有的全部违约救济权利,包括但不限于以质押股权折价或以拍卖、变卖质押股权所得的价款以优先受偿。质权人对其合理行使该等权利和权力造成的任何损失不负责任。

After
Pledgee issues a Notice of Default to Pledgor in accordance with Section 8.1, Pledgee may exercise any remedy measure under applicable
PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid in priority with the Equity Interest
based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity
Interest. The Pledgee shall not be liable for any loss incurred by its duly exercise of such rights and powers.

 

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		8.4	质权人行使质权获得的款项,应优先支付因处分质押股权而应缴的税费和向质权人履行合同义务及偿还担保债务。扣除上述款项后如有余款,质权人应将余款交还出质人或根据有关法律、法规对该款项享有权利的其他人或者向出质人所在地公证机关提存,由此所生之任何费用全部由出质人承担;在中国法律允许的情况下,出质人应将上述款项无条件地赠予质权人或质权人指定的人。

The
proceeds from exercise of the Pledge by Pledgee shall be used to pay for tax and expenses incurred as result of disposing the
Equity Interest and to perform Contract Obligations and pay the Secured Indebtedness to the Pledgee prior and in preference to
any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned to Pledgor or any
other person who have rights to such balance under applicable laws or be deposited to the local notary public office where Pledgor
resides, with all expense incurred being borne by Pledgor. To the extent permitted under applicable PRC laws, Pledgor shall unconditionally
donate the aforementioned proceeds to Pledgee or any other person designated by Pledgee.

 

		8.5	质权人有权选择同时或先后行使其享有的任何违约救济,质权人在行使本协议项下的以质押股权折价或拍卖、变卖质押股权所得款项优先受偿的权利前,无须先行使其他违约救济。

Pledgee
may exercise any remedy measure available simultaneously or in any order. Pledgee may exercise the right to being paid in priority
with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from
auction or sale of the Equity Interest under this Agreement, without exercising any other remedy measure first.

 

		8.6	质权人有权以书面方式指定其律师或其他代理人行使其质权,出质人或丙方对此均不得提出异议。

Pledgee
is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf, and Pledgor or Party C shall
not raise any objection to such exercise.

 

		8.7	质权人依照本协议处分质权时,出质人和丙方应予以必要的协助,以使质权人实现其质权。

When
Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable
Pledgee to enforce the Pledge in accordance with this Agreement.

 

		9.	违约责任

Breach
of Agreement 

 

		9.1	若出质人或丙方实质性违反本协议项下所作的任何一项约定,质权人有权终止本协议和/或要求出质人或丙方给予损害赔偿;本第9条不应妨碍质权人在本协议下的任何其他权利;

If
Pledgor or Party C conducts any material breach of any term of this Agreement, Pledgee shall have right to terminate this Agreement
and/or require Pledgor or Party C to indemnify all damages; this Section 9 shall not prejudice any other rights of Pledgee herein;

 

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		9.2	除非适用的法律另有规定,出质人或丙方在任何情况均无任何权利终止或解除本协议。

Pledgor
or Party C shall not have any right to terminate this Agreement in any event unless otherwise required by applicable laws.

 

		10.	转让

Assignment

 

		10.1	除非经质权人事先同意,出质人和丙方无权赠予或转让其在本协议项下的权利义务。

Without
Pledgee’s prior written consent, Pledgor and Party C shall not have the right to assign or delegate their rights and obligations
under this Agreement.

 

		10.2	本协议对出质人及其继任人和经许可的受让人均有约束力,并且对质权人及每一继任人和受让人有效。

This
Agreement shall be binding on Pledgor and his/her successors and permitted assigns, and shall be valid with respect to Pledgee
and each of his/her successors and assigns.

		10.3	质权人可以在任何时候将其在交易文件和本协议中的所有或任何权利和义务转让给其指定的人,在这种情况下,受让人应享有和承担交易文件和本协议项下质权人享有和承担的权利和义务,如同其作为原协议方应享有和承担的一样。

At
any time, Pledgee may assign any and all of its rights and obligations under the Transaction Documents and this Agreement to its
designee(s), in which case the assigns shall have the rights and obligations of Pledgee under the Transaction Documents and this
Agreement, as if it were the original party to the Transaction Documents and this Agreement.

		10.4	因转让所导致的质权人变更后,应质权人要求,出质人和/或丙方应与新的质权人签订一份内容与本协议一致的新质押协议,并在相应的工商行政管理机关进行登记。

In
the event of change of Pledgee due to assignment, Pledgor and/or Party C shall, at the request of Pledgee, execute a new pledge
agreement with the new pledgee on the same terms and conditions as this Agreement, and register the same with the relevant AIC.

 

		10.5	出质人和丙方应严格遵守本协议和各方单独或共同签署的其他有关协议的规定,包括交易文件,履行交易文件项下的义务,并不进行任何足以影响协议的有效性和可强制执行性的作为/不作为。除非根据质权人的书面指示,出质人不得行使其对质押股权还留存的权利。

Pledgor
and Party C shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by the
Parties hereto or any of them, including the Transaction Documents, perform the obligations hereunder and thereunder, and refrain
from any action/omission that may affect the effectiveness and enforceability thereof. Any remaining rights of Pledgor with respect
to the Equity Interest pledged hereunder shall not be exercised by Pledgor except in accordance with the written instructions
of Pledgee.

 

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		11.	终止

Termination

 

		11.1	在出质人和丙方充分、完全地履行了所有的合同义务和清偿了所有的担保债务后,质权人应根据出质人的要求,在尽早合理可行的时间内,解除本协议下的质押股权的质押,并配合出质人办理注销在丙方的股东名册内所作的股权质押的登记以及办理在相关工商行政管理部门的质押注销登记。

Upon
the fulfillment of all Contract Obligations and the full payment of all Secured Indebtedness by Pledgor and Party C, Pledgee shall
release the Pledge under this Agreement upon Pledgor’s request as soon as reasonably practicable and shall assist Pledgor
to de-register the Pledge from the shareholders’ register of Party C and with relevant PRC local administration for industry
and commerce.

 

		11.2	本协议第9、13、14条和本第11.2条的规定在本协议终止后继续有效。

The
provisions under Sections 9, 13, 14 and 11.2 herein of this Agreement shall survive the expiration or termination of this Agreement.

 

		12.	手续费及其他费用

Handling
Fees and Other Expenses

 

一切与本协议有关的费用及实际开支,其中包括但不限于法律费用、工本费、印花税以及任何其他税收、费用等全部由丙方承担。

All
fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp
tax and any other taxes and fees, shall be borne by Party C.

 

		13.	保密责任

Confidentiality

 

各方承认及确定有关本协议、本协议内容,以及彼此就准备或履行本协议而交换的任何口头或书面资料均被视为保密信息。各方应当对所有该等保密信息予以保密,而在未得到另一方书面同意前,不得向任何第三者披露任何保密信息,惟下列信息除外:(a)公众人士知悉或将会知悉的任何信息(惟并非由接受保密信息之一方擅自向公众披露);(b)根据适用法律法规、股票交易规则、或政府部门或法院的命令而所需披露之任何信息;或(c)由任何一方就本协议所述交易而需向其股东、董事、员工、法律或财务顾问披露之信息,而该股东、董事、员工、法律或财务顾问亦需遵守与本条款相类似之保密责任。如任何一方股东、董事、员工或聘请机构的泄密均视为该方的泄密,需依本协议承担违约责任。

The
Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the
Parties in connection with the preparation and performance this Agreement are regarded as confidential information. Each Party
shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party,
it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will
be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation
to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government
authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial
advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels
or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure
of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure
of such confidential information by such Party and such Party shall be held liable for breach of this Agreement.

 

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		14.	适用法律和争议的解决

Governing
Law and Resolution of Disputes

 

		14.1	本协议的订立、效力、解释、履行、修改和终止以及争议的解决均适用中国法律。

The
execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes
hereunder shall be governed by the laws of China.

		14.2	因解释和履行本协议而发生的任何争议,本协议各方应首先通过友好协商的方式加以解决。如果在一方向其他方发出要求协商解决的书面通知后30天之内争议仍然得不到解决,则任何一方均可将有关争议提交给中国国际经济贸易仲裁委员会,由该会按照其仲裁规则仲裁解决。仲裁应在北京进行。仲裁裁决是终局性的,对各方均有约束力。

In
the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the
dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after
either Party’s request to the other Parties for resolution of the dispute through negotiations, either Party may submit
the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with
its Arbitration Rules. The arbitration shall be conducted in Beijing. The arbitration award shall be final and binding on all
Parties.

 

		14.3	因解释和履行本协议而发生任何争议或任何争议正在进行仲裁时,除争议的事项外,本协议各方仍应继续行使各自在本协议项下的其他权利并履行各自在本协议项下的其他义务。

Upon
the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration
of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective
rights under this Agreement and perform their respective obligations under this Agreement.

 

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		15.	通知

		Notices	

 

		15.1	本协议项下要求或发出的所有通知和其他通信应通过专人递送、挂号邮寄、邮资预付或商业快递服务或传真的方式发到该方下列地址。每一通知还应再以电子邮件送达。该等通知视为有效送达的日期按如下方式确定:

All
notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or
sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such
party set forth below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed
to have been effectively given shall be determined as follows:

 

		15.2	通知如果是以专人递送、快递服务或挂号邮寄、邮资预付发出的,则以于设定为通知的地址在发送或拒收之日为有效送达日。

Notices
given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the
date of delivery or refusal at the address specified for notices.

 

		15.3	通知如果是以传真发出的,则以成功传送之日为有效送达日(应以自动生成的传送确认信息为证)。

Notices
given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically
generated confirmation of transmission).

 

		15.4	为通知的目的,各方地址如下:

For
the purpose of notices, the addresses of the Parties are as follows:

 

	甲方:	[  ]
	Party A:	[  ]
	地址:	[  ]
	Address:	[  ]
	收件人:	[  ]
	Attn:	[  ]
	电话:	86 10[  ]
	Phone:	86 10[  ]
	传真:	86 10[  ]
	Facsimile:	86 10[  ]
	 	 
	乙方:	[  ]
	Party B:	[  ]
	地址:	[  ]
	Address:	[  ]
	电话:	[  ]
	Phone:	[  ]
	传真:	[  ]
	Facsimile:	[  ]
	 	 
	丙方:	安徽奥凯发油脂科技股份有限公司
	Party C:  	Anhui Aokai Fa Grease Technology Co., Ltd.
	地址:	安徽省六安市舒城县汤池镇舒河路
	Address:  	Shuhe Road, Tangchi Town, Shucheng County, LuAn City, Anhui Province
	收件人:	[  ]
	Attn:	[  ]
	电话:	[  ]
	Phone:	[  ]
	传真:	[  ]
	Facsimile:	[  ]

 

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		15.5	任何一方可按本条规定随时给其他各方发出通知来改变其接收通知的地址。

Any
Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms hereof.

 

		16.	分割性

Severability

 

如果本协议有任何一条或多条规定根据任何法律或法规在任何方面被裁定为无效、不合法或不可执行,本协议其余规定的有效性、合法性或可执行性不应因此在任何方面受到影响或损害。各方应通过诚意磋商,争取以法律许可以及各方期望的最大限度内有效的规定取代那些无效、不合法或不可执行的规定,而该等有效的规定所产生的经济效果应尽可能与那些无效、不合法或不能强制执行的规定所产生的经济效果相似。

In
the event that one or several of the provisions of this Contract are found to be invalid, illegal or unenforceable in any aspect
in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Contract
shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or
unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions
of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those
invalid, illegal or unenforceable provisions.

 

		17.	附件

Attachments

 

本协议所列附件,为本协议不可分割的组成部分。

The
attachments set forth herein shall be an integral part of this Agreement.

 

		18.	生效

Effectiveness

 

		18.1	本协议自各方正式签署之日起生效。

This
Agreement shall become effective upon execution by the Parties.

 

		18.2	本协议的任何修改、补充或变更,均须采用书面形式,经各方签字或盖章并按规定办理政府登记(如需)后生效。

Any
amendments, changes and supplements to this Agreement shall be in writing and shall become effective upon completion of the governmental
registrationprocedures (if applicable) after the affixation of the signatures or seals of the Parties.

 

		19.	语言和副本

Language
and Counterparts

 

本协议以中文和英文书就,一式四份,质权人、出质人和丙方各持一份,剩余一份用于登记。中英文版本具有同等效力。

This
Agreement is written in Chinese and English in four copies. Pledgor, Pledgee and Party C shall hold one copy respectively and
the other copy shall be used for registration. The Chinese version and English version shall have equal legal validity.

 

本页其余部分刻意留为空白

The
Remainder of this page is intentionally left blank

 

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有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本股权质押协议并即生效,以昭信守。

IN
WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Equity Interest Pledge Agreement as
of the date first above written.

 

	甲方:	[  ]
	Party A:	[  ]

 

	签字:	 	 
	By:	     	 
	姓名:	[  ]	 
	Name:	[  ]	 
	职位:	法定代表人	 
	Title: 	Legal Representative	 
	 	 	 
	乙方:	[  ]	 
	Party B:	[  ]	 
	 	 	 
	签署:	 	 
	By:		 
	 	 	 
	丙方:	安徽奥凯发油脂科技股份有限公司	 
	Party C:	Anhui Aokai Fa Grease Technology Co., Ltd.
	 	 	 
	签字:	 	 
	By:	 	 
	姓名:	章廷银	 
	Name:	Tingyin ZHANG	 
	职位:	法定代表人	 
	Title: 	Legal Representative	 

 

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	附件:	 
	Attachments:	 
	 	 	 
	1.	丙方股东名册;	 
	 	Register of Shareholders
    of Party C;	 
	 	 	 
	2. 	丙方的出资证明书;	 
	 	The
    Capital Contribution Certificate for Party C;
	 	 	 
	3.	独家业务合作协议。	 
	 	Exclusive
    Business Cooperation Agreement.
	 	 	 
	4.	独家购买权协议	 
	 	Exclusive Option
    Agreement	 
	 	 	 
	5. 	授权委托书	 
	 	Power of Attorney	 

 

 

17Exhibit 10.4

 

授权委托书

POWER
OF ATTORNEY

 

本人,[   ],中国公民,身份证号码为[   ],在本授权委托书签署之日拥有安徽奥凯发油脂科技股份有限公司(“内资公司”)[   ]%的股权。就本人在内资公司现时和将来持有的股权(“本人股权”),本人特此不可撤销地授权[   ](“WFOE”)在本授权委托书的有效期内行使如下权利:

I,
[  ], a Chinese citizen with Chinese Identification Card No.: [  ], and a holder of [  ]% of the entire registered capital in Anhui
Aokai Fa Grease Technology Co., Ltd. (the “Domestic Company”) as of the date when the Power of Attorney is executed,
hereby irrevocably authorize [  ] (“WFOE”) to exercise the following rights relating to all equity interests held by
me now and in the future in the Domestic Company (“My Shareholding”) during the term of this Power of Attorney:

 

授权WFOE作为本人唯一的排他的代理人就有关本人股权的事宜全权代表本人行使包括但不限于如下的权利:(1)参加内资公司的股东会;(2)行使按照法律和内资公司章程规定本人所享有的全部股东权和股东表决权,包括但不限于出售或转让或质押或处置本人股权的全部或任何一部分;以及(3)作为本人的授权代表指定和任命内资公司的法定代表人、董事、监事、总经理以及其他高级管理人员等。

The
WFOE is hereby authorized to act on behalf of myself as my exclusive agent and attorney with respect to all matters concerning
My Shareholding, including without limitation to: (1) attending shareholders’ meetings of the Domestic Company; (2) exercising
all the shareholder’s rights and shareholder’s voting rights I am entitled to under the laws of China and the Domestic
Company’s Articles of Association, including but not limited to the sale or transfer or pledge or disposition of My Shareholding
in part or in whole; and (3) designate and appoint on behalf of myself the legal representative, the directors, supervisors, the
chief executive officer and other senior management members of the Domestic Company.

 

WFOE将有权代表本人签署本人与WFOE、内资公司于201[  ]年[  ]月[  ]日签署的独家购买权协议以及本人与WFOE、内资公司于201[  ]年[   ]月[   ]日签署的股权质押协议(包括上述文件的修改、修订或重述,合称“交易文件”)中约定的需由本人签署的所有文件,如期履行交易文件,该权利的行使将不对本授权形成任何限制。

Without
limiting the generality of the powers granted hereunder, WFOE shall have the power and authority to, on behalf of myself, execute
all the documents I shall sign as stipulated in the Exclusive Option Agreement entered into by and among me, the WFOE and the
Domestic Company on [  ] [  ], 201[  ] and the Equity Pledge Agreement entered into by and among me, the WFOE and Domestic Company
on [  ] [  ], 201[  ] (including any modification, amendment and restatement thereto, collectively the “Transaction Documents”),
and perform the terms of the Transaction Documents.

 

WFOE就本人股权的一切行为均视为本人的行为,签署的一切文件均视为本人签署,本人会予以承认。

All
the actions associated with My Shareholding conducted by the WFOE shall be deemed as my own actions, and all the documents related
to My Shareholding executed by the WFOE shall be deemed to be executed by me. I hereby acknowledge and ratify those actions and/or
documents by the WFOE.

 

    1
秘密文件 Strictly Confidential

     

    

 

WFOE有转委托权,可以就上述事项的办理自行再委托其他人或单位而不必事先通知本人或获得本人的同意。如果中国法律有要求,WFOE应指派中国公民行使上述权利。

The
WFOE is entitled to re-authorize or assign its rights related to the aforesaid matters to any other person or entity at its own
discretion and without giving prior notice to me or obtaining my consent. If required by PRC laws, the WFOE shall designate a
PRC citizen to exercise the aforementioned rights.

 

在本人为内资公司的股东期间,本授权委托书自签署之日起不可撤销并持续有效。

During
the period that I am a shareholder of the Domestic Company, this Power of Attorney shall be irrevocable and continuously effective
and valid from the date of execution of this Power of Attorney.

 

本授权委托书期间,本人特此放弃已经通过本授权委托书授权给WFOE的与本人股权有关的所有权利,不再自行行使该等权利。

During
the term of this Power of Attorney, I hereby waive all the rights associated with My Shareholding, which have been authorized
to the WFOE through this Power of Attorney, and shall not exercise such rights by myself.

 

本授权委托书以中文和英文书就,中英文版本有同等效力。

This
Power of Attorney is written in Chinese and English. The Chinese version and English version shall have equal legal validity.

 

本授权委托在201[  ]年[  ]月[   ]日签署。

This
Power of Attorney is signed on [  ] [  ], 201[  ].

  

    2
秘密文件 Strictly Confidential

     

    

 

	 	[  ]	 
	 	[  ]	 
	 	 	 
	 	签署:	 
	 	By:	 

 

	接受:	 	 
	Accepted by	 
	 	 	 
	[   ]		 
	[   ]		 
	 	 	 
	签字:	 	 
	By:	 	 
	姓名:	[  ]	 
	Name:	[  ]	 
	职位:	法定代表人	 
	Title: 	Legal Representative	 
	 	 	 
	承认:	 	 
	Acknowledged by:	 
	 	 	 
	安徽奥凯发油脂科技股份有限公司	 
	Anhui Aokai Fa Grease Technology Co., Ltd.	 
	 	 	 
	签字:	 	 
	By:	 	 
	姓名:	章廷银	 
	Name:	Tingyin ZHANG	 
	职位:	法定代表人	 
	Title: 	Legal Representative	 

 

 

3

秘密文件
Strictly Confidential

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