Document:

EXHIBIT 10.1

 

2021
restricted Stock Unit Award Plan

(EFFECTIVE
May 25, 2021)

 

		1.	General Description.

 

The Plan provides for grants
of restricted stock units to employees, consultants and Non-Employee Directors of the Company and its Subsidiaries.

 

The purpose of the Plan is
to attract, motivate and retain experienced and knowledgeable employees and consultants by offering additional stock based compensation
and incentives to defer and potentially enhance their compensation and to encourage stock ownership in the Company, and to attract and
retain qualified directors.

 

This Plan is intended to comply
with Section 409A of the Internal Revenue Code of 1986, as amended, in order to avoid compensation deferred under the Plan which is subject
to Code Section 409A from being included in the gross income of Participants under Code Section 409A and the Plan shall be interpreted
consistent with such intent.

 

		2.	Definitions.

 

The following definitions
shall be applicable throughout the Plan:

 

“Board” means
the Board of Directors of the Company.

 

“Cash Settled Restricted
Stock Units” is defined in Section 7(d).

 

“Cause” means,
with respect to termination of a Participant's employment, or termination of a Participant’s service as a Non-Employee Director,
or termination of a Participant’s consulting relationship with the Company or a Subsidiary, the occurrence of any one or more of
the following:

 

(a)           in the case of a (A) Non-Employee Director, (B) a non-employee consultant, or (C) an employee where there is no employment, change
in control or similar agreement in effect between the Participant and the Company or a Subsidiary at the time of the grant of the Restricted
Stock Unit award, or where there is such an agreement but the agreement does not define “cause” (or similar words), the finding
by the Board or the Committee, in the exercise of good faith and reasonable judgment, that: (1) except in the case of a Non-Employee Director,
Participant breached his or her employment or service contract or any other agreement (whether verbal or written) with the Company or
a Subsidiary, (2) Participant has been engaged in disloyalty to the Company or a Subsidiary, including, without limitation, fraud, embezzlement,
theft, or proven dishonesty in the course of his or her employment or service with the Company or a Subsidiary; (3) Participant has been
convicted of a felony; (4) Participant has committed gross negligence or willful misconduct in the course of his or her employment or
service with the Company or a Subsidiary, or (5) Participant has disclosed trade secrets or confidential information of the Company, a
Subsidiary or a third party to persons not entitled to receive such information.

 

(b)           in the case of an employee where there is a written employment, change in control or similar agreement in effect between the Participant
and the Company or a Subsidiary at the time of the grant of the Restricted Stock Unit award that defines “cause” (or similar
words), the termination of an employment arrangement that is or would be deemed to be for “cause” (or similar words) as defined
in such agreement.

 

“Change in Control -
Plan” means in one or a series of related transactions any of the following: (a) the acquisition (other than solely from the Company)
by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) other than the Company or
any Subsidiary of the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than sixty-six
and 2/3 percent (66.66%) of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally
in the election of directors (the “Voting Securities”); (b) a reorganization, merger, consolidation, share exchange, recapitalization,
business combination or similar combination involving the Company or its capital stock (a “Business Combination”), other than
a Business Combination in which more than thirty-three and 1/3 percent (33.33%) of the combined voting power of the outstanding voting
securities of the surviving or resulting entity immediately following the Business Combination is held by the persons who, immediately
prior to the Business Combination, were the holders of the Voting Securities; (c) a sale or other transfer (other than license) of all
or substantially all of the Company’s assets (measured by the value or earning power of the assets), including, without limitation,
the sale by the Company of its rights under license agreements or similar agreements relating to its technology (including the sale of
royalty payment amounts payable to the Company or its shareholders under such agreements); (d) the license or similar agreement by the
Company to a third party or third parties, in one or more transactions, of all rights in and to the Company’s technology and, as
a result of such transactions, all or substantially all of the Company’s activities consist of monitoring such arrangements and
collecting fees and payments due thereunder; or (e) a complete liquidation or dissolution of the Company.

 

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“Change in Control –
Section 409A” shall mean a Change in Control – Plan, except to the extent that (and only to the extent that) such Change in
Control – Plan does not qualify as a change (a) in the ownership or effective control of the Company, or (b) in the ownership of
a substantial portion of the assets of the Company, under Section 409A of the Code.

 

“Code” means the
Internal Revenue Code of 1986, as amended.

 

“Committee” shall
mean the Compensation Committee, if any, appointed by the Board under Section 4 hereof.

 

“Common Stock”
or “Stock” means shares of common stock, par value $.01 per share, of the Company, including any rights attendant thereto
upon issuance of the shares, together with any restrictions, limitations or conditions of and to such rights and such other stock or other
securities or property into which the Stock (or such rights) may be converted or for which it is exchanged or substituted (and any credits
thereon), pursuant to Section 10.

 

“Company” means
Acura Pharmaceuticals, Inc. and its successors.

 

“Disability” means

 

(a)           in the case of (A) a Non-Employee-Director or (B) an employee where there is no employment, change in control or similar agreement
in effect between the Participant and the Company or a Subsidiary at the time of the grant of the Restricted Stock Unit award, or where
there is such an agreement but the agreement does not define “disability” (or similar words), then “Disability”
means the Participant: (1) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months; (2) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or
can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period
of not less than three (3) months under an accident and health plan covering employees and/or directors of the Company or a Subsidiary;
(3) is determined to be totally disabled by the Social Security Administration; or (4) any other permitted definition of disability under
Section 409A of the Code and the regulations promulgated thereunder, and

 

(b)           in the case where there is a written employment, change in control or similar agreement in effect between the Participant and the
Company or a Subsidiary at the time of the grant of the Restricted Stock Unit award that defines “disability” (or similar
words), the termination of an employment arrangement that is or would be deemed to be for “disability” (or similar words)
as defined in such agreement.

 

“Effective Date”
shall be the date this Plan is approved by the shareholders of the Company.

 

“Eligible Participant”
means a Non-Employee Director serving as a director on the date of grant, a consultant providing services to the Company or a Subsidiary
on the date of grant, or an employee employed by the Company or a Subsidiary on the date of grant.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended.

 

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“Fair Market Value”
means, as of any date, the fair market value of Common Stock determined as follows:

 

		(i)	If the Common Stock is listed on any established stock exchange (including the Nasdaq Capital Market)
or quoted on the OTCQB or OTCQX its Fair Market Value shall be the closing sales price for such stock as quoted on such exchange or system
for the preceding day on which sales of Common Stock were reported, as such price is reported in The Wall Street Journal or such other
source as the Board deems reliable;

 

		(ii)	If the Common Stock is quoted by a recognized securities dealer but selling prices are not reported, its
Fair Market Value shall be the mean between the closing bid and asked prices for the Common Stock on the preceding day on which sales
of Common Stock were reported, as reported in The Wall Street Journal or such other source as the Board deems reliable; or

 

		(iii)	In the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined
in good faith by the Board.

 

“Non-Employee Director”
has the definition set forth in Rule 16b-3(b)(3)(i) of the Exchange Act.

 

“Participant”
means each Company or Subsidiary employee, consultant or Non-Employee Director who has been granted a Restricted Stock Unit award.

 

“Plan” means the
Acura Pharmaceuticals, Inc. 2021 Restricted Stock Unit Award Plan, as set forth herein and as it may be amended from time to time.

 

“Restricted Stock Unit
Award Agreement” means an agreement described in Section 5(a) and Section 9(j).

 

“Restricted Stock Units”
or “RSUs” means an award of Stock Units credited pursuant to Section 5, which Stock Units are subject to vesting and other
restrictions as set forth herein.

 

“Securities Act”
means the Securities Act of 1933, as amended.

 

“Stock Unit” means
a non-voting unit of measurement that is (a) deemed for bookkeeping purposes to be equivalent to one outstanding share of Stock solely
for purposes of determining benefits under the Plan, (b) credited to a Participant's Stock Unit Account pursuant to the grant of Restricted
Stock Units under Section 5; and (c) payable solely in a share of Stock, on a one-for-one basis, except in the case of Cash Settled Restricted
Stock Units which are settled in cash (as provided herein).

 

“Stock Unit Account”
means the bookkeeping account maintained by the Company for each Eligible Participant that is credited with Stock Units in accordance
with the Plan.

 

“Subsidiary” means
any entity of which a majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company.

 

		3.	Effective Date; Duration.

 

The Effective Date shall be
the date on which the Company’s shareholders approve this Plan. RSUs may be distributed under the Plan until December 31, 2031.
The Plan shall continue in effect until all matters relating to Stock Units and the administration of the Plan have been completed and
all payments of such compensation have been made.

 

		4.	Administration.

 

The Company’s Board
of Directors or the Compensation Committee of the Board, as designated by the Board, shall administer the Plan. If appointed by the Board,
the Committee shall be constituted so as to permit the Plan to continue to comply with Rule 16b-3, as currently in effect or as hereafter
modified or amended. The Committee appointed by the Board of Directors shall consist of not less than two members of the Board of Directors,
to administer the Plan on behalf of the Board of Directors, subject to such terms and conditions as the Board of Directors may prescribe.
Once appointed, the Committee shall continue to serve until otherwise directed by the Board of Directors. From time to time, the Board
of Directors may increase the size of the Committee and appoint additional members thereof, remove members (with or without cause), and
appoint new members in substitution therefor, fill vacancies however caused, or remove all members of the Committee and thereafter directly
administer the Plan; provided, however, that at no time shall a Committee of less than two members administer the Plan. Notwithstanding
anything to the contrary contained herein, no member of the Committee shall serve as such under this Plan unless such person is a “Non-Employee
Director” within the meaning of Rule 16b-3(b)(3)(i) of the Exchange Act.

 

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A majority of the entire Committee
shall constitute a quorum, and the action of the majority of the Committee members present at any meeting at which a quorum is present
shall be the action of the Committee. The Committee shall have all of the powers and duties set forth herein, as well as such additional
powers and duties as the Board of Directors may delegate to it; provided, however, that the Board of Directors expressly retains the right
in its sole discretion (i) to elect and to replace the members of the Committee, and (ii) to terminate or amend this Plan in any manner
consistent with applicable law.

 

The Committee shall have the
authority, subject to the provisions of this Plan, to establish, adopt and revise such rules, regulations and forms and agreements and
to interpret the Plan and make all such determinations relating to the Plan as it may deem necessary or advisable. The Committee shall
also have the authority, subject to the provisions of the Plan, to delegate ministerial, day-to-day administrative details and non-discretionary
duties and functions to officers and employees of the Company. The Committee's interpretation of the Plan or any awards granted pursuant
hereto and all decisions and determinations by the Committee with respect to the Plan shall be final, binding, and conclusive on all parties.
Notwithstanding any provisions of this Plan or any Restricted Stock Unit Award Agreement to the contrary, all discretionary interpretations,
decisions or determinations of the Board or the Committee with respect to the Plan and all RSUs awarded under the Plan shall be made in
accordance with the express terms of the Plan and applicable Restricted Stock Unit Award Agreement in the exercise of good faith and reasonable
judgment.

 

Notwithstanding any contrary
provision of this Section 4, the Board shall administer the Plan, and the Committee shall exercise no discretion with respect to any grants
to Non-Employee Directors. In the administration of the Plan with respect to Non-Employee Directors, the Board shall have all of the authority
and discretion otherwise granted to the Committee with respect to the administration of the Plan.

 

		5.	Restricted Stock Units.

 

(a)           Restricted Stock Units may be granted at any time and from time to time as determined by the Board or the Committee. Each Restricted
Stock Units grant will be evidenced by a Restricted Stock Award Agreement that will specify such other terms and conditions as Board or
the Committee, in its sole discretion, will determine, including all other applicable terms, conditions and restrictions related to the
grant, vesting and the number of Restricted Stock Units not otherwise set forth in this Plan.

 

(b)           Vesting Period. The Board or the Committee shall determine the vesting of a Restricted Stock Unit award granted under Section 5(a),
and shall set forth such vesting in the Restricted Stock Unit Award Agreement.

 

(c)           Acceleration of Vesting. Notwithstanding Section 5(b), unless expressly provided otherwise in the Restricted Stock Unit Award Agreement,
each Restricted Stock Unit award shall become fully and immediately vested and nonforfeitable to the Participant upon the occurrence of
any of the following events:

 

(1)            a Participant's service as an employee of the Company is terminated by the Company without Cause or due to Participant’s
death or Participant’s Disability, or in the case of a Non-Employee Director, Participant’s death or Disability or Participant
is not renominated as a director (other than for “Cause” or refusal to stand for re-election) or is not elected by the Company’s
stockholders, if nominated; or

 

(2)            a Change in Control - Plan.

 

		6.	Dividend and Voting Rights.

 

Unless expressly provided
for in a Participant’s Restricted Stock Unit Award Agreement, a Participant shall have no rights as a stockholder of the Company,
no dividend rights and no voting rights, with respect to the RSUs and any shares of Common Stock underlying or issuable in respect of
such RSUs until such shares of Common Stock are actually issued to and held of record by the Participant. No adjustments will be made
for dividends or other rights of a holder for which the record date is prior to the date of issuance of the stock certificate for such
RSU.

 

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		7.	Restrictions, Distributions and Changes to Distributions; Payment of Units.

 

(a)           Time and Manner of Distribution. Payment of vested Stock Units in a Participant's Stock Unit Account in accordance with Section
7(b) shall be made on the earlier of (i) a Change in Control – Section 409A, or (ii) the distribution dates specified in Section
7(b) and 7(c) as applicable, subject to Section 7(e). In the event of a payment pursuant to a Change in Control – Section 409A under
Section 7(a)(i), such payment shall be made in a lump sum payment as soon as administratively practicable following consummation of said
Change in Control – Section 409A, subject to Section 7(e). The date of the Change in Control – Section 409A is the scheduled
distribution date for purposes of the Plan. In the event of a payment under Section 7(a)(ii), such payment shall be made as specified
in Section 7(b) and 7(c) as applicable; provided, however, that in the event of a Change in Control – Section 409A all of Participant’s
undistributed Stock Units as of consummation of said Change in Control – Section 409A shall be paid to Participant in a lump sum
as soon as administratively practicable, regardless of the payment dates set forth in Section 7(b) or 7(c), subject to Section 7(e).

 

(b)           Standard Payments. Subject to Sections 7(a) and 7(c) hereof, unless a Restricted Stock Unit Award Agreement otherwise provides,
with respect to any Restricted Stock Units granted to a Participant that become vested and non-forfeitable pursuant to the terms hereof
and the applicable Restricted Stock Unit Award Agreement, such Restricted Stock Units shall be paid on the first business day of the year
after the year in which they become vested and non-forfeitable (which is the scheduled distribution date for purposes of the Plan), or
as soon thereafter as administratively practicable, subject to Section 7(e).

 

(c)           Deferral By Company. Subject to Section 7(a), at the discretion of the Committee, a Restricted Stock Unit Award for a Participant
may provide for a date or dates of distribution occurring after the vesting date, and in such case payment shall be made on such distribution
dates as specified in the applicable Restricted Stock Unit Award Agreement (which are the scheduled distribution dates for purposes of
the Plan), subject to Section 7(e).

 

(d)           Cash Settled Restricted Stock Units. Unless otherwise provided in a Restricted Stock Unit Award Agreement, and subject to the restrictions
provided in Section 9(n) a Non-Employee Director may elect, at any time prior to payment of Restricted Stock Units granted in a Restricted
Stock Units Award Agreement that up to 40% of such Restricted Stock Units be settled in cash (“Cash Settled Restricted Stock Units”).

 

(e)           Payment of Units. Upon the occurrence of the distribution events set forth in Section 7(a), 7(b), and 7(c), other than with respect
to Cash Settled Restricted Stock Units, the Company shall deliver a number of shares of Stock equal to the number of vested Stock Units
to which the Participant is then entitled under the terms of the Plan and the Restricted Stock Unit Award Agreement upon receipt from
Participant of the par value of such shares of Stock, which amount must be received or withheld within thirty days of the scheduled distribution
date, set forth in Section 7(a), 7(b) or 7(c), as applicable, and in the Participant’s tax year in which the scheduled distribution
date falls. In lieu of requiring cash payment of such par value, the Company may, it its discretion or shall at the Participant’s
election, subject to Section 9(n), accept payment of any such par value by withholding from Stock payments a number of whole shares of
Stock whose value is equal to the amount of such par value. Valuation for these purposes shall be the Fair Market Value on the scheduled
distribution date referenced in Sections 7(a), 7(b) and 7(c). Upon the occurrence of the distribution events set forth in Section 7(a),
7(b) or 7(c) with respect to Cash Settled Restricted Stock Units, the Company shall deliver to the Participant cash equal to (A) Fair
Market Value of the Common Stock on the scheduled distribution date less one cent par value multiplied by (B) the number of such Cash
Settled Restricted Stock Units as calculated pursuant to the Participant’s election form.

 

(f)            Forfeiture of Unvested Units. Except as provided in Section 5(c) of the Plan or in a Participant’s Restricted Stock Unit
Award Agreement, to the extent any portion of a Participant's RSUs have not become vested upon the date the Participant's services as
an employee, consultant or Non-Employee Director terminate, such RSUs shall be forfeited and the unvested portion of the RSU award shall
automatically terminate without any other action by the Participant or the Participant’s Beneficiary as the case may be and without
payment of consideration by the Company.

 

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		8.	Shares Subject to the Plan; Share Limits.

 

(a)            Share Limits. Subject to the provisions of Section 10 of the Plan, the maximum aggregate number of shares of Common Stock which
may be issued under the Plan is 2,500,000 (the “Pool”) of Common Stock. Such shares may be authorized, but unissued, or reacquired
Common Stock. Shares issued in payment of any Restricted Stock Units granted under the Plan shall be counted against the Pool as one share
for every one share actually issued in payment of such Restricted Stock Units. Issuance of cash for Cash Settled Restricted Stock Units
shall diminish the Pool as if a share had been exchanged for each RSU settled in cash.

 

(b)           Shares withheld by the Company as payment of par value or applicable withholding taxes in connection with any award under the Plan,
shall not be available for subsequent awards under the Plan. Shares that are subject to or underlie awards which expire or for any reason
are cancelled or terminated, are forfeited, fail to vest, or for any other reason are not paid or delivered under the Plan shall again
be available for subsequent awards under the Plan.

 

		9.	General.

 

(a)           Government and Other Regulations. The obligation of the Company to credit Stock Units, issue or deliver Stock or otherwise make
payments under the Plan are subject to compliance with all applicable laws, rules, and regulations (including, without limitation, federal
and state securities laws), and to such approvals by any listing, agency, or regulatory or governmental authorities as may, in the opinion
of counsel for the Company, be necessary or advisable in connection therewith. Any securities issued or delivered under the Plan shall
be subject to such restrictions, and the person acquiring such securities shall, if requested by the Company, provide such assurances
and representations to the Company, as the Company may deem necessary or advisable to assure compliance with all applicable legal requirements.

 

(b)           Tax and Withholding. The Company has the right to require the person receiving Stock to pay to the Company the amount of any federal,
state and local taxes which the Company is required to withhold upon the delivery of Stock. In lieu of requiring cash payment of any such
taxes, the Company shall at its election or at the Participant’s election, instead withhold from said Participant’s Stock
payments a number of shares of Stock whose value is equal to the amount of such taxes. Valuation for this purpose shall be the Fair Market
Value on the scheduled distribution date.

 

(c)           Beneficiaries.

 

(1)           Beneficiary Designation. Each Eligible Participant may designate in writing the Beneficiary or Beneficiaries (as defined in Section
9(c)(2)) whom such Eligible Participant desires to receive any amounts payable under the Plan after his or her death. Beneficiary designations
shall be effective on the date such written designation is received by the Corporate Secretary. An Eligible Participant may from time
to time change his or her designated Beneficiary or Beneficiaries without the consent of such Beneficiary or Beneficiaries by filing a
new designation in writing with the Corporate Secretary. However, if a married Eligible Participant wishes to designate a person other
than his or her spouse as Beneficiary, such designation shall be consented to in writing by the spouse. The Eligible Participant may change
any election designating a Beneficiary or Beneficiaries without any requirement of further spousal consent if the spouse's consent so
provides. Notwithstanding the foregoing, spousal consent shall not be necessary if it is established that the required consent cannot
be obtained because the spouse cannot be located or because of other circumstances prescribed by the Board or the Committee. The Company
and the Board or the Committee may rely on the Eligible Participant's designation of a Beneficiary or Beneficiaries last filed in accordance
with the terms of the Plan.

 

(2)           Definition of Beneficiary. An Eligible Participant's “Beneficiary” or “Beneficiaries” shall be the person,
persons, trust or trusts so designated by the Eligible Participant or, in the absence of such designation, entitled by will or the laws
of descent and distribution to receive the Eligible Participant's benefits under the Plan in the event of the Eligible Participant's death,
and shall mean the Eligible Participant's executor or administrator if no other Beneficiary is identified and able to act under the circumstances.

 

(d)           Non-transferability. Except as provided in Section 9(c) and in this Section 9(d), a Participant’s rights and interests under
the Plan in respect of RSUs, including Stock or cash deliverable under or in respect thereof, may not be assigned, pledged, or transferred.
The Committee may, in its discretion, authorize all or a portion of the RSUs to be granted to a Participant to be on terms which permit
transfer by such Participant to (i) the spouse, children or grandchildren of the Participant (the “Immediate Family Members”),
(ii) a trust or trusts for the exclusive benefit of such Immediate Family Members, or (iii) a partnership in which such Immediate Family
Members are the only partners, provided that (x) there may be no consideration for any such transfer, (y) subsequent transfers of transferred
of RSUs shall be prohibited except those made by will or by the laws of descent or distribution, and (z) such transfer is approved in
advance by the Committee. Following transfer, any such RSUs shall continue to be subject to the same terms and conditions as were applicable
immediately prior to transfer, provided that for purposes of determining the party entitled to exercise under the RSU, the term “Participant”
shall be deemed to refer to the transferee. The termination of service as an employee, non-employee director or consultant shall continue
to be applied with respect to the original Participant, following which the RSUs shall be exchangeable for Stock by the transferee only
to the extent, and for the periods specified in Section 7 of the Plan and in the Restricted Stock Unit Award Agreement.

 

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(e)           Expenses. All expenses incurred by the Company associated with adoption and administration of this Plan, including all legal expenses
related to drafting this Plan and related documents, shall be borne solely by the Company.

 

(f)            Titles and Headings. The titles and headings of the sections in the Plan are for convenience of reference only, and in the event
of any conflict, the text of the Plan, rather than such titles or headings, shall control.

 

(g)           Governing Law. The validity of the Plan or any of its provisions and any agreements entered into under the Plan shall be construed,
administered and governed in all respects under the laws of the State of New York. If any provisions of the Plan shall be held by a court
of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be fully effective.

 

(h)           Limitation on Participants’ Rights; Unfunded Plan. Participation in the Plan shall not give any person the right to continued
employment or any rights or interests other than as expressly provided herein. No Participant shall have any right to any payment or benefit
hereunder except to the extent provided herein. The Plan shall create only a contractual obligation on the part of the Company as to such
amounts and shall not be construed as creating a trust or fiduciary relationship between the Company, the Board, the Committee, and any
Participant or other person. Participants and their Beneficiaries shall have no legal or equitable rights, claims, or interest in any
specific property or assets of the Company. No assets of the Company shall be held under any trust, or held in any way as collateral security
for the fulfilling of the obligations of the Company under this Plan. Any and all of the Company's assets shall be, and remain, the general
unpledged, unrestricted assets of the Company. The Company's obligation under the Plan shall be merely that of an unfunded and unsecured
promise of the Company to pay benefits in the future, and the rights of the Participants and Beneficiaries shall be no greater than those
of unsecured general creditors.

 

(i)            Rights with Respect to Stock Units. A Participant's Stock Unit Account shall be a memorandum account on the books of the Company.
The Stock Units credited to such account shall be used solely as a device to determine the number of shares of Stock (or cash in the case
of Cash Settled Restricted Stock Units) to be eventually distributed to the Participant, subject to applicable vesting requirements, in
accordance with the Plan. The Stock Units shall not be treated as property or as a trust fund of any kind. No Participant shall be entitled
to any voting dividend, or other stockholder rights with respect to Stock Units credited under the Plan.

 

(j)            Restricted Stock Unit Award Agreements. Each Restricted Stock Unit award granted to an Eligible Participant under the Plan shall
be evidenced by a writing approved by the Board or the Committee and will contain the terms and conditions consistent with the Plan as
approved by the Board or the Committee relating to the RSUs. This Plan and each Restricted Stock Unit Award Agreement granted to an Eligible
Participant under the Plan shall be binding upon, and inure to the benefit of, any successor or successors of the Company, except to the
extent that the Board or the Committee and each Participant having executed a Restricted Stock Unit Award Agreement determine otherwise
as evidenced by a writing signed by both parties.

 

(k)           Plan Construction. By its approval of the Plan, the Board intends that the transactions contemplated by the Plan satisfy and be
interpreted in a manner that satisfies the applicable requirements of Rule 16b-3 promulgated under the Exchange Act so that, among other
transactions, the crediting of Stock Units and payment in Stock will be entitled to the benefits of Rule 16b-3 or other exemptive rules
under the Exchange Act.

 

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(l)            Notices. Any notice to be given under the terms of this Plan shall be in writing and addressed to the Company at its principal
office, to the attention of the Corporate Secretary, and to the Participant at his or her last address of record, or at such other address
as either party may designate in writing to the other for the purposes of notices in respect of RSUs.

 

(m)          In the event the Board determines that it is not necessary to collect par value in exchange for issuances of Stock hereunder in
exchange for RSUs then the Board may eliminate (i) the par value payment required in connection with a distribution of Stock, and (ii)
the deduction of par value in calculating amounts to be paid under Cash Settled Restricted Stock Units.

 

(n)           In the event the Board
determines that under the terms of any preferred stock that may be issued by the Company or the terms of any credit agreement, loan agreement
or financing arrangement (collectively, “Loan”), whether existing on the Effective Date or entered into or amended thereafter,
that (i) withholding of RSUs or shares of stock exchangeable for RSUs for payment of taxes or par value or (ii) settlement of Cash Settled
Restricted Stock Units, would violate a covenant, representation, warranty or other agreement contained in such Loan (including, without
limitation, limits on repurchase or redemption of Common Stock or derivatives thereof), then in the case of subparagraph (i) the Company
shall not be required to withhold such RSUs and/or shares of Common Stock and the Participant shall make such payment in cash, and in
the case of subparagraph (ii), such Cash Settled Restricted Stock Units shall be settled in Common Stock.

 

		10.	Changes in Capital Structure.

 

Upon or in contemplation of
any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend) or reverse stock split;
any merger, combination, consolidation or other reorganization; any split-up; spin-off, or similar extraordinary dividend distribution
in respect of the Stock (whether in the form of securities or property); any exchange of Stock or other securities of the Company, or
any similar, unusual or extraordinary corporate transaction in respect of the Stock; or a sale of substantially all the assets of the
Company as an entirety; then the Board shall, in such manner, to such extent (if any) and at such time as it deems appropriate and equitable
in the circumstances in the Board’s exercise of good faith and reasonable judgment, proportionately adjust any or all of (a) the
number and type of shares of Stock (or other securities or property) that thereafter may be made the subject of Stock Units and Stock
Unit Accounts (including the specific maximum and numbers of shares set forth elsewhere in the Plan), (b) the number, amount and type
of shares of Stock (or other securities or property) payable in respect of Stock Units, and (c) and the number and type of Stock Units
(both credited and vested) under the Plan.

 

		11.	Amendments and Termination.

 

The Board (but only upon shareholder
approval if such approval is required by (i) the rules of the exchange on which the Company’s stock is listed, (ii) under New York
law or (iii) any other applicable law or regulation) shall have the right to amend the Plan (including outstanding awards) in whole or
in part from time to time or may at any time suspend or terminate the Plan; provided, however, that no amendment or termination shall
cancel or otherwise adversely affect in any way, without his or her written consent, any Participant's rights with respect to Stock Units
credited to his or her Stock Unit Account and no amendment or termination shall accelerate payment of any benefit which is subject to
the rules of Section 409A of the Code in a manner that would violate the distribution rules of Section 409A of the Code. Notwithstanding
the foregoing, Participant consent shall not be required to the extent that the Board determines that applicable law requires amendment
or termination of the Plan to preserve the intended tax benefits to the Participants and the Company hereunder. Any amendments authorized
hereby shall be stated in an instrument in writing, and all Participants (subject to any applicable consent requirement above) shall be
bound thereby upon receipt of notice thereof. Changes contemplated by Section 10 shall not be deemed to constitute changes or amendments
for purposes of this Section 11.

 

    8Exhibit 10.1

 

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (this “Agreement”) is entered into as of May 28, 2021, by and between Cultural Objects Provenance Holdings
Limited, a company incorporated under the laws of the British Virgin Islands (the “Company”), and Takung Art Co., Ltd.,
a Delaware corporation (the “Investor”).

 

RECITALS

 

WHEREAS, the Investor desires
to purchase from the Company, and the Company desires to sell to the Investor, up to 86,560 shares (the “Shares”) of
the shares of the Company, no par value (the “Cultural Shares”); and

 

WHEREAS, capitalized terms
used and not otherwise defined herein have the meanings set forth in Section 8.1.

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

 

ARTICLE
I.

SALE OF COMMON STOCK; CLOSING

 

1.1            
Purchase and Sale. At the Closing, the Company shall issue and sell to the Investor, and the Investor shall purchase from
the Company: (1) 54,100 shares of Cultural Shares (the “Vested Company Shares”), for a purchase price consisting of
$500,000 in cash and the issuance by the Investor to the Company of 282,000 restricted shares of the common stock (the “Vested
Investor Shares”), par value $0.001 per share, of the Investor (the “Investor Common Stock”); (2) subject
to the satisfaction of the conditions thereto, including, without limitation, (x) the completion by the Company, to the satisfaction of
the Investor, of a NFT platform for primary market sales and (y) the launch of a physical exhibition / show with sales of collectibles
utilizing the Company’s authentication technology to the satisfaction of the Investor (“(x)” and “(y)” collectively,
the “Vesting Conditions”), the Company shall issue and sell to the Investor, and the Investor shall purchase from the
Company, 32,460 shares of unvested Cultural Shares, subject to the Vesting Conditions (the “Company Make Good Shares”),
for a purchase price consisting of the issuance by the Investor to the Company of 290,000 restricted shares of unvested Investor Common
Stock, subject to the Vesting Conditions (the “Investor Make Good Shares,” together with the Company Make Good Shares,
the “Make Good Shares”).

 

1.2            
Purchase Price. The aggregate purchase price for the Shares being purchased by the Investor pursuant to Section ‎1.1
is $10,630,120 (the “Purchase Price”). The portion of the Purchase Price to be paid at the Closing shall be paid by
(x) the payment by the Investor to the Company of $500,000 in cash paid by wire transfer of immediately available funds and (y) the issuance
by the Investor to the Company of 282,000 Vested Investor Shares, and 290,000 Make Good Investor Shares.

 

1.3            
Closing. The Closing will take place at the offices of Pryor Cashman LLP, 7 Times Square, New York, N.Y. 10036, or at such
other place as the Investor and the Company shall mutually agree, either orally or in writing, at 10:00 A.M. local time, on the Closing
Date. At the Closing, the Investor shall pay the cash portion of the Purchase Price required to be paid by it at such Closing by wire
transfer of immediately available funds to the account set forth on Exhibit A, and the Investor shall also issue to the Company
the number of shares of Vested Investor Shares required to be issued by it to the Company at such Closing (which issuance shall be evidenced
by a book entry statement by the Investor’s transfer agent). Simultaneously, the Company shall issue to the Investor the number
of the Vested Company Shares being purchased by the Investor at such Closing, free and clear of all Liens, by delivering to the Investor
a certificate, registered in the name of the Investor or any designee thereof, evidencing the Vested Company Shares purchased at such
Closing. At the Closing, the Company shall issue to the Investor 32,460 share of the Company Make Good Shares and the Investor shall issue
to the Company 290,000 shares of the Investor Make Good Shares, the vesting of each are subject to the Vesting Conditions. At each Closing,
there shall also be delivered to the Company and the Investor the certificates and other documents and instruments to be delivered under
Article VI.

 

     

     

    

 

1.4            
Make Good Shares. Both the Company Make Good Shares and the Investor Make Good Shares shall bear the following contractual
legend in addition to the standard legend under the Securities Act of 1933, as amended. Once the Vesting Conditions are satisfied by the
Company sending a notice to the Investor, which shall be confirmed by the Investor within three business days upon the Investor’s
receipt of such notice, the Company Make Good Shares and the Investor Make Good Shares shall be vested simultaneously and such contractual
legend shall be removed within seven business days.

 

THE SALE, TRANSFER,
ASSIGNMENT, PLEDGE, HYPOTHECATION ENCUMBRANCE OR OTHER DISPOSAL OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS
OF THE SECURITIES PURCHASE AGREEMENT DATED AS OF MAY 28, 2021 BETWEEN Cultural Objects Provenance
Holdings Limited (the “Company”), and Takung Art Co., Ltd (THE “INVESTOR”). NO TRANSFER OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IN CONTRAVENTION OF THE AGREEMENT SHALL BE VALID OR EFFECTIVE. COPIES OF SUCH AGREEMENT MAY BE OBTAINED
BY WRITTEN REQUEST MADE BY THE NAMED HOLDER OF THIS CERTIFICATE TO THE SECRETARY OF THE COMPANY OR THE INVESTOR. THE NAMED HOLDER OF THIS
CERTIFICATE DOES NOT HAVE VOTING RIGHTS UNTIL THE SATISFACTION OF THE CONDITIONS SET FORTH IN THE AGREEMENT.

 

 

ARTICLE
II.

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company hereby represents
and warrants to the Investor as follows:

 

2.1            
Organization and Qualification. The Company is a duly organized, validly existing and in good standing under the Laws of
British Virgin Islands. The Company is duly qualified, licensed or admitted to do business in each jurisdiction in which the ownership,
use or leasing of its Assets and Properties, or the conduct or nature of its business, as presently conducted, makes such qualification,
licensing or admission necessary, except where the failure to be so qualified could not, individually or in the aggregate, have a material
adverse effect, or reasonably be expected to have a material adverse effect, on the Company.

 

    	 	- 2 -	 

     

    

 

2.2            
Authority. The Company has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder,
to consummate the transactions contemplated hereby, to conduct its business as now conducted, to own, use and lease its Assets and Properties,
and to issue and sell the Shares. The execution, delivery and performance by the Company of this Agreement, the consummation by the Company
of the transactions contemplated hereby and the authorization, issuance, sale and delivery of the Shares being sold hereunder, have been
duly and validly authorized by all necessary action on the part of the Company, its Board of Directors (or similar governing body), officers
and stockholders, and no other action on the part of the Company, its Board of Directors (or similar governing body), officers or stockholders
is necessary to authorize the execution, delivery and performance of this Agreement, the consummation by the Company of the transactions
contemplated hereby and the issuance and sale of the Shares. This Agreement has been duly and validly executed and delivered by the Company
and, assuming the due authorization, execution and delivery by the Investor, constitute legal, valid and binding obligations of the Company
enforceable against the Company in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws relating to the enforcement of creditors’ rights generally and by general principles
of equity. The sale of the Shares is not subject to any preemptive rights, rights of first refusal or any other rights relating to the
issuance of equity by the Company that have not been waived.

 

2.3            
Capital Stock.

 

(a)            
The authorized capital
stock of the Company consists of 10,000,000 shares of Cultural Shares, of which, giving effect to the Closing and Vesting Conditions hereunder,
1,352,450 shares of Cultural Shares are duly authorized, validly issued and outstanding, fully paid and nonassessable, and have been issued
in compliance with all applicable federal, state and foreign securities laws.

 

(b)            
Except as disclosed in Section 2.3 of the Disclosure Schedule, no shares of Cultural Shares or other capital stock of the
Company are reserved for issuance. No shares of capital stock of the Company are held in treasury. Except as disclosed in Section 2.3
of the Disclosure Schedule, (i) there are no outstanding Options or agreements, arrangements or understandings to issue Options with
respect to the Company and (ii) there are no preemptive rights, rights of first refusal or agreements, arrangements or understandings
of any kind to issue preemptive rights, rights of first refusal or other rights with respect to the issuance or sale of the Company’s
capital stock. On the Closing Date, the delivery to the Investor of the certificate or certificates evidencing the Vested Company Shares
purchased on the Closing Date will transfer to the Investor good and valid title to such Shares, free and clear of all Liens, and the
Vested Company Shares sold at such Closing will have been duly authorized, validly issued, fully paid and nonassessable and will be free
of restrictions on transfer, other than any applicable securities laws. The Company is not a party or subject to any agreement or understanding,
and, to the Company’s Knowledge, there is no agreement or understanding between or among any Persons that affects or relates to,
the voting or giving of written consents or nominating directors with respect to the Company or any of its securities. The Company has
no obligation (contingent or otherwise) to purchase or redeem any of its capital stock or other securities.

 

    	 	- 3 -	 

     

    

 

(c)             
On the Closing Date, after giving effect to the sale of the Vested Company Shares sold to the Investor on the Closing Date, such
Vested Company Shares will represent 4.0% of the Company’s outstanding shares of Cultural Shares on a fully diluted basis assuming
exercise or conversion of all securities directly or indirectly exercisable or convertible into Cultural Shares and taking into account
any shares of Common Stock reserved for issuance under any employee stock plan or similar arrangement. After giving effect to the sale
of the Company Make Good Shares sold to the Investor when the Vesting Conditions are satisfied, such Company Make Good Shares will represent
2.4% of the Company’s outstanding shares of Common Stock on a fully diluted basis assuming exercise or conversion of all securities
directly or indirectly exercisable or convertible into Common Stock and taking into account any shares of Common Stock reserved for issuance
under any employee stock plan or similar arrangement.

 

2.4            
Subsidiaries. Except as set forth on Section 2.4 of the Disclosure Schedule, the Company does not own or control,
directly or indirectly, any interest in any other Person.

 

2.5            
No Conflicts.

 

(a)            
The execution and delivery
by the Company of this Agreement, the performance by the Company of its obligations hereunder and the consummation of the transactions
contemplated hereby (including the issuance of the Shares) do not and will not:

 

(i)              
conflict with or result in a violation or breach of any of the terms, conditions or provisions of the certificate of incorporation
or by-laws (or similar governance documents) of the Company; or

 

(ii)            
(A) conflict with or result in a violation or breach of, (B) constitute (with or without notice or lapse of time or both) a default
under, (C) require the Company to obtain any consent, approval or action of, make any filing with or give any notice to any Person as
a result or under the terms of, (D) result in or give to any Person any right of termination, cancellation, acceleration or modification
in or with respect to, (E) result in or give to any Person any additional rights or entitlement to increased, additional, accelerated
or guaranteed payments under or (F) result in the creation or imposition of any Lien upon the Company or any of its Assets and Properties
under, any Law or Order applicable to the Company, or any Contract or License to which the Company is a party or by which any of its Assets
and Properties is bound.

 

(b)            
The Company is not in violation or default of any provision of the certificate of incorporation or by-laws (or similar governance
documents) of the Company.

 

    	 	- 4 -	 

     

    

 

(c)             
The Company has not declared or paid any dividend or made any other distribution
of cash, stock or other property with respect to its capital stock to its stockholders.

 

2.6            
Financial Statements. The Company has delivered to the Investor true and complete copies of the unaudited balance sheet
of the Company as of December 31, 2020, and the related unaudited profit and loss statement for the twelve (12) months period then ended
(the “Financial Statements”) as disclosed in Section 2.6 of the Disclosure Schedule. The Financial Statements
have been prepared in accordance with GAAP applied on a consistent basis throughout the periods indicated and with each other, except
that unaudited Financial Statements do not contain footnotes required by GAAP. The Financial Statements fairly present the financial condition
and results of operations of the Company as of the respective dates thereof and for the respective periods covered thereby, subject in
the case of unaudited Financial Statements to normal year-end adjustments. Except as set forth in Section 2.6 of the Disclosure Schedule,
the Company has no material liabilities or obligations, contingent or otherwise, other than (i) liabilities incurred in the ordinary course
of business subsequent to December 31, 2020; and (ii) obligations under contracts and commitments incurred in the ordinary course of business.

 

2.7            
Absence of Changes.

 

(a)            
Since January 1, 2021, there
has not been any material adverse change, or any event or development which, individually or together with other such events, could reasonably
be expected to result in a material adverse change in the Business or Condition of the Company.

 

(b)            
The Company has not declared or paid any dividend or made any other distribution of cash, stock or other property in respect of
the capital stock of the Company or made, or given notice to make, any direct or indirect redemption, purchase or other acquisition by
the Company of any such capital stock of, or any Option with respect to, the Company.

 

2.8            
No Litigation. There are no Proceedings pending or, to the Knowledge of the Company, threatened against, related to or affecting
the Company or its Assets or Properties nor, to the Knowledge of the Company, any reasonable basis therefor. There are no Proceedings
pending or, to the Knowledge of the Company, threatened that question the legality, validity or enforceability of this Agreement or any
of the transactions contemplated hereby, or that could, individually or in the aggregate, reasonably be expected to impair the ability
of the Company to perform on a timely basis its obligations under this Agreement. To the Company’s knowledge, there is no action,
suit or proceeding pending or threatened against any officer or director of the Company, as such, that relates to the Company or its business
(including, without limitation, by way of such person’s prior employment, such person’s use in connection with the Company’s
business of any information, technology or techniques allegedly proprietary to any of their former employers, clients or other parties,
or such person’s obligations under any agreements with prior employers, clients or other parties), nor to the Knowledge of the Company
is there any reasonable basis therefor. There is no action, suit or proceeding by the Company pending or which the Company intends to
initiate. There is no Order to which the Company, or any of the assets owned or used by the Company, is subject.

 

    	 	- 5 -	 

     

    

 

2.9            
Compliance with Applicable Law. The Company is in compliance with all Applicable Laws, except for noncompliance which would
not have a material adverse effect on the validity or performance of this Agreement. The Company has not received any written notice from
any Governmental Authority or any other Person regarding (a) any actual, alleged, possible or potential violation of, or failure to comply
with, or liability under any Applicable Law, or (b) any actual, alleged, possible or potential obligation or liability of the Company,
which if determined adversely would reasonably likely be material to the Company. The Company has all franchises, permits, licenses and
any similar authority necessary for the conduct of its business as currently conducted, the lack of which could reasonably be expected
to result in a material liability to the Company. The Company is not in default in any material respect under any of such franchises,
permits, licenses or other similar authority.

 

2.10        
FCPA and OFAC Matters.

 

(a)            
Without limiting Section
2.9, none of the Company, any of its subsidiaries or their respective agents or representatives has, in the course of its actions
for, or on behalf of, any of them (i) knowingly used any funds for any unlawful contribution, gift, entertainment or other unlawful expense
relating to political activity, (ii) unlawfully offered or provided, directly or indirectly, anything of value to (or received anything
of value from) any foreign or domestic government employee or official or any other Person, or (iii) violated any provision of the United
States Foreign Corrupt Practices Act of 1977, and any rules or regulations promulgated thereunder (“FCPA”) or other
similar laws of other jurisdictions.

 

(b)            
Without limiting Section 2.9, none of the Company, any of its subsidiaries or their respective agents or representatives
has, in the course of its actions for, or on behalf of any of them, directly or indirectly taken any action in violation of any applicable
export control laws, anti-boycott regulations, embargo regulations or other similar applicable United States or foreign laws. To the Knowledge
of the Company, none of the Company’s or any of its subsidiaries’ directors, officers, employees, agents or representatives
is a “specially designated national” or blocked person under United States sanctions administered by the Office of Foreign
Assets Control of the U.S. Department of the Treasury (“OFAC”). Neither the Company nor any of its subsidiaries has
engaged in any business with any Person with whom, or in any country in which, it is prohibited for a United States Person to engage under
applicable law or under applicable United States sanctions administered by OFAC.

 

2.11        
Contracts. Each Contract material to the Company is in full force and effect and constitutes a legal, valid and binding
agreement, enforceable in accordance with its terms, of the Company and, to the Company’s Knowledge, each other party thereto. Neither
the Company nor, to the Company’s Knowledge, any other party thereto is in default under or in breach or violation of (and no event
has occurred which with notice, lapse of time or both would become a breach or violation of or default under) any Contract material to
the Company.

 

2.12        
Affiliate Transactions. There are no Contracts or Liabilities between the Company, on the one hand, and any current or former
employee, officer, director, stockholder or Affiliate of the Company or any direct or indirect Affiliate of any such employee, officer,
director, stockholder or Affiliate, on the other hand, other than (a) for payment of salary for services rendered, (b) reimbursement for
expenses incurred on behalf of the Company, (c) for other standard employee benefits made generally available to all employees and (d)
as have been entered into in the ordinary course of business and on commercially reasonable terms.

 

    	 	- 6 -	 

     

    

 

2.13        
Registration Rights. The Company has not granted or agreed to grant any rights to register under the Securities Act (or
similar securities statute) any of its presently outstanding securities or any of its securities that may subsequently be issued.

 

2.14        
Brokers. No agent, broker, finder, investment banker, financial advisor or other similar Person will be entitled to any
fee, commission or other compensation in connection with the transactions contemplated by this Agreement on the basis of any act or statement
made or alleged to have been made by the Company, any of its Affiliates, or any investment banker, financial advisor, attorney, accountant
or other Person retained by or acting for or on behalf of the Company or any such Affiliate other than any such Person whose fees, commissions
or other compensation will be paid by the Company.

 

2.15        
Exemption from Registration. Based in part on the truth and accuracy of the representations and warranties of the Investor
as set forth in Article III of this Agreement, the offer and sale of the Shares to the Investor is exempt from the registration requirements
of the Securities Act.

 

2.16        
Intellectual Property. The Company owns or possesses or can obtain on commercially reasonable terms, sufficient legal rights
to all Intellectual Property necessary to the business of the Company as presently conducted without violation or infringement of, or
other conflict with, the rights of others. No product or service marketed or sold (or proposed to be marketed or sold) by the Company
violates any Intellectual Property rights of any other party. The Company has not received any written, or, to its Knowledge, verbal,
notices or other communications alleging that the Company (or any of its employees or consultants) has violated or, by conducting its
business as proposed, would violate any of the Intellectual Property rights of any other person or entity.

 

2.17        
Title to Properties and Assets; Liens. The Company has good and marketable title to its Assets and Properties, and has good
title to all its leasehold interests, and is in material compliance with such leases, in each case subject to no material mortgage, pledge,
lien, lease, encumbrance or charge, other than possible minor liens, encumbrances and defects in title which do not in any case materially
detract from the value of the property subject thereto or materially impair the operations of the Company.

 

2.18        
Employee Matters. To the Company’s knowledge, none of its employees is obligated under any contract or other agreement,
or subject to any judgment, decree or order of any court or administrative agency, that would materially interfere with such employee’s
ability to promote the interest of the Company or that would conflict with the Company’s business. The Company is not delinquent
in payments to any of its employees, consultants, or independent contractors for any wages, salaries, commissions, bonuses, or other direct
compensation for any service performed for it to the date hereof or amounts required to be reimbursed to such employees, consultants,
or independent contractors. The Company has complied in all material respects with all applicable state and federal equal employment opportunity
laws and with other laws related to employment, including those related to wages, hours, worker classification, collective bargaining,
and the payment and withholding of taxes and other sums as required by law except where noncompliance with any applicable law would not
result in a material liability to the Company. The Company has withheld and paid to the appropriate governmental entity or is holding
for payment not yet due to such governmental entity all amounts required to be withheld from employees of the Company and is not liable
for any arrears of wages, taxes, penalties, or other sums for failure to comply with any of the foregoing. Each current and former employee
and officer, and each other person involved in the development of Intellectual Property for the Company, has executed a customary agreement
in the Company’s favor regarding confidentiality and the assignment to the Company of rights to inventions and other Intellectual
Property rights. The Company is not aware that any such person is in violation of any such agreement.

 

    	 	- 7 -	 

     

    

 

2.19        
Insurance. The Company has in full force and effect fire and casualty insurance policies as are customary for similar situated
businesses and with coverage sufficient in amount (subject to reasonable deductions) to allow it to replace any of its properties that
might be damaged or destroyed. The Company has insurance for Intellectual Property-related claims customary in scope and amount for similarly
situated companies and reasonably sufficient given the nature of the Company’s business.

 

2.20        
Data Privacy. In connection with its collection, storage, transfer (including, without limitation, any transfer across national
borders) and/or use of any personally identifiable information from any individuals, including, without limitation, any customers, prospective
customers, employees and/or other third parties (collectively “Personal Information”), the Company is and has been,
to the Company’s knowledge, in compliance with all applicable laws in all relevant jurisdictions, the Company’s privacy policies
and the requirements of any contract or codes of conduct to which the Company is a party. The Company has commercially reasonable physical,
technical, organizational and administrative security measures and policies in place to protect all Personal Information collected by
it or on its behalf from and against unauthorized access, use and/or disclosure. The Company is and has been, to the Company’s knowledge,
in compliance in all material respects with all laws and industry best practices relating to data loss, theft and breach of security notification
obligations.

 

2.21        
Environmental and Safety Laws. Except as could not reasonably be expected to result in a material liability to the Company,
to the best of its knowledge, (a) the Company is and has been in compliance with all Environmental Laws (as defined below); (b) there
has been no release of any pollutant, contaminant or toxic or hazardous material, substance or waste, or petroleum or any fraction thereof,
(each a “Hazardous Substance”) on, upon, into or from any site currently or heretofore owned, leased or otherwise used
by the Company; (c) there have been no Hazardous Substances generated by the Company that have been disposed of or come to rest at any
site that has been included in any published U.S. federal, state or local “superfund” site list or any other similar list
of hazardous or toxic waste sites published by any governmental authority in the United States; and (d) there are no underground storage
tanks located on, no polychlorinated biphenyls (“PCBs”) or PCB-containing equipment used or stored on, and no hazardous
waste as defined by the Resource Conservation and Recovery Act, as amended, stored on, any site owned or operated by the Company, except
for the storage of hazardous waste in compliance with Environmental Laws. For purposes of this Section 2.19, “Environmental
Laws” means any law, regulation, or other applicable requirement relating to (a) releases or threatened release of Hazardous
Substance; (b) pollution or protection of employee health or safety, public health or the environment; or (c) the manufacture, handling,
transport, use, treatment, storage, or disposal of Hazardous Substances.

 

    	 	- 8 -	 

     

    

 

2.22        
Taxes. There are no federal, state, county, local or foreign taxes due and payable by the Company that have not been timely
paid. There are no accrued and unpaid federal, state, county, local or foreign taxes of the Company that are due, whether or not assessed
or disputed. There have been no examinations or audits of any tax returns or reports by any applicable federal, state, local or foreign
governmental agency. The Company has duly and timely filed all federal, state, county, local and foreign tax returns required to have
been filed by it and there are in effect no waivers of applicable statutes of limitations with respect to taxes for any year.

 

2.23       Securities
Law Matters. The Company hereby acknowledges that the shares of Investor Common Stock to be issued to the Company as part of the Purchase
Price for the Shares constitute unregistered shares of the common stock of the Investor, and that the sale of the shares of Investor Common
Stock by the Company is restricted under state and federal securities laws, including, without limitation, the Securities Act, and the
rules and regulations promulgated thereunder. The Company agrees that it shall not sell the shares of Investor Common Stock to be issued
to it hereunder unless such shares have been registered under the Securities Act, or unless such sale is permitted under, and is effected
in compliance with, an exemption from registration contained in applicable state and federal securities laws, including Rule 144 promulgated
under the Securities Act. The Company further represents to the Investor that it: (i) either (x) is an “accredited investor”
as that term is defined in Regulation D promulgated under the Securities Act or (y) has sufficient knowledge and experience in financial
and business matters such that it is capable, either alone, or together with its advisors, of evaluating the risks and merits of acquiring
the shares of Investor Common Stock to be issued to it hereunder; (ii) has the requisite power and authority to enter into and to perform
its obligations under this Agreement; (iii) can bear the risk of losing its entire investment in the Investor Common Stock; (iv) understands
that current public information about the Investor may not be available at the time the Company desires to sell all or any of the shares
of Investor Common Stock, such that the availability of the exemption from the registration requirements of the Securities Act provided
by Rule 144 may be limited, delayed or eliminated; and (v) has been given the opportunity to ask questions of, and receive answers from,
the Investor concerning the Investor Common Stock and the business of the Investor, and to obtain such additional information as the Company
deemed necessary in connection with the transactions contemplated by this Agreement.

 

2.24       Disclosure.
The Company has made available to the Investor all the information reasonably available to the Company that the Investor has requested
for deciding whether to acquire the Purchased Securities. No representation or warranty of the Company contained in this Agreement, and
no certificate furnished or to be furnished to the Investor at the Closing, contains any untrue statement of a material fact or, to the
Company’s knowledge, omits to state a material fact necessary in order to make the statements contained herein or therein not misleading
in light of the circumstances under which they were made.

 

    	 	- 9 -	 

     

    

 

ARTICLE
III.

REPRESENTATIONS AND WARRANTIES OF THE INVESTOR

 

The Investor hereby represents
and warrants to the Company as follows:

 

3.1            
Organization; Power and Authority. The Investor is a corporation, duly organized, validly existing and in good standing
under the Laws of the State of Delaware. The Investor has full power and authority to execute and deliver this Agreement and to perform
its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by the Investor of this Agreement,
and the performance by the Investor of its obligations hereunder, have been duly and validly authorized by the Investor. This Agreement
has been duly and validly executed and delivered by the Investor and, assuming the due authorization, execution and delivery by the Company
thereof, constitutes legal, valid and binding obligations of the Investor enforceable against the Investor in accordance with its terms,
except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating
to the enforcement of creditors’ rights generally and by general principles of equity.

 

3.2            
No Conflicts. The execution, delivery and performance of this Agreement, and the consummation by the Investor of the transactions
contemplated hereby, will not conflict with, or constitute a default under, any agreement, indenture or instrument to which the Investor
is a party, or result in a violation of the Investor’s organizational documents or any order, judgment or decree of any court or
Governmental Authority having jurisdiction over the Investor or any of its properties and, no consent, authorization or order of, or filing
or registration with, any Governmental Authority is required by the Investor for the execution, delivery and performance of this Agreement.

 

3.3            
Purchase for Investment. The Shares are being acquired by the Investor for its own account for the purpose of investment
and not with a view to the resale or distribution of all or any part thereof in violation of the Securities Act. The Investor represents
and warrants that it is an “accredited investor” as such term is defined in Rule 501 of Regulation D of the Securities Act,
and that it realizes that the acquisition of the Shares represents a speculative investment involving a high degree of risk for which
there is no assurance of any return. The Investor represents and warrants that it is fully familiar with the business, financial condition
and prospects of the Company, that it has had the opportunity to discuss the Company’s Business and Condition with the Company’s
management, and that it has had the opportunity to obtain such additional information that the Company possesses or can acquire without
unreasonable effort or expense that is necessary to make an informed investment decision with respect to the acquisition of the Shares.
The Investor is not purchasing the Shares as a result of any advertisement, article, notice or other communication regarding the Shares
published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general
solicitation or general advertisement. The Investor understands that the Shares have not been registered under the Securities Act in reliance
on an exemption therefrom under Section 4(a)(2) of the Securities Act and Regulation D thereunder and that the certificates for the Shares
shall bear a legend substantially as follows:

 

    	 	- 10 -	 

     

    

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (A) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR (B) AN APPLICABLE EXEMPTION FROM REGISTRATION THEREUNDER AND AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
COMPANY THAT REGISTRATION IS NOT REQUIRED.”

 

The Company shall remove such
legend upon receipt of an opinion from counsel to the Investor, reasonably satisfactory in form and substance to counsel to the Company,
that the requirements for such legend have terminated.

 

3.4            
Issuance of Securities. The shares of Investor Common Stock to be issued to the Company on each Closing Date as part of
the Purchase Price to be paid by the Investor to the Company for the Shares issued to the Investor at such Closing, on such Closing Date,
shall be duly authorized, validly issued, fully paid and nonassessable and shall be free of restrictions on transfer, other than restrictions
under any applicable securities laws.

 

3.5            
Brokers. No agent, broker, finder, investment banker, financial advisor or other similar Person will be entitled to any
fee, commission or other compensation in connection with any of the transactions contemplated by this Agreement on the basis of any act
or statement made or alleged to have been made by the Investor or any of its Affiliates, or any investment banker, financial advisor,
attorney, accountant or other Person retained by or acting for or on behalf of the Investor or any such Affiliates.

 

ARTICLE
IV.

COVENANTS

 

4.1            
Compliance with Laws. The Company shall operate its business so
as to not be in violation of any U.S. federal, state, local or foreign Law, including ERISA, that is applicable to the Company, except
for any such violation that would not have a material adverse effect on the Business or Condition of the Company.

 

4.2            
Taxes. The Company shall in all material respects pay and discharge
promptly when due all taxes and other governmental charges imposed upon it before the same shall become delinquent or in default, provided
that such payment and discharge shall not be required with respect to any such tax or charge so long as the Company shall be contesting
the same in good faith in appropriate proceedings.

 

4.3            
Registration Rights. The Investor shall file a registration statement
under the Securities Act to register the resale of the Shares, i.e., the Vested Investor Shares and the Investor Make Good Shares issued
to the Company at the Closing not more than sixty (60) days following the Closing, and shall use its reasonable best efforts to cause
such registration statement to be declared effective by the SEC not more than ninety (90) days following the Closing Date (or one hundred
fifty (150) days following the Closing Date in the event that the SEC reviews such registration statement and provides comments with respect
thereto.

 

    	 	- 11 -	 

     

    

 

ARTICLE
V.

SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS

 

5.1            
Survival of Representations and Warranties; Covenants and Agreements. The representations, warranties, covenants and agreements
of the Company and the Investor contained in this Agreement will survive following the Closing.

 

ARTICLE
VI.

DELIVERIES AT CLOSING

 

6.1            
Deliveries by the Company. At or before the Closing, each of the following shall be (or shall have been) delivered to the
Investor by or on behalf of the Company:

 

(a)       Good
Standing Certificates. (i) Copies of the certificate of incorporation (or other formation document of the Company), including all
amendments thereto, of the Company certified by the Secretary of State or other appropriate official of the jurisdiction of organization
of the Company, (ii) certificates from the Secretary of State or other appropriate official of the jurisdiction of organization of the
Company to the effect that the Company is in good standing or subsisting in such jurisdiction and attesting to its payment of all franchise
or similar taxes, and (iii) a certificate from the Secretary of State or other appropriate official in each jurisdiction in which the
Company is qualified, licensed or admitted to do business to the effect that the Company is duly qualified or admitted and in good standing
in such jurisdiction.

 

(b)       Executed
Agreement. A copy of this Agreement duly executed by the Company, which shall be in full force and effect.

 

(c)       Delivery
of Certificates. A duly executed certificate representing the Vested Company Shares issued to the Investor and a duly executed certificate
representing the Make Good Company Shares issued to the Investor at the Closing.

 

6.2            
Deliveries by the Investor. At or before each Closing, each of the following shall be (or shall have been) delivered to
the Company by or on behalf of the Investor:

 

(a)       Purchase
Price. The portion of the Purchase Price payable at such Closing in cash by wire transfer of immediately available funds to the account
set forth on Exhibit A.

 

(b)       Executed
Agreement. A copy of this Agreement duly executed by the Investor, which shall be in full force and effect.

 

(c)       Delivery
of Investor Common Stock. A book entry statement reflecting the issuance by the Investor to the Company of the shares of the Vested
Investor Shares and the Make Good Investor Shares included in the Purchase Price payable by the Investor to the Company at the Closing.

 

    	 	- 12 -	 

     

    

 

ARTICLE
VII.

INDEMNIFICATION

 

7.1            
Indemnification.

 

(a)            
The Company shall indemnify
the Investor and its officers, directors, stockholders, members, partners, employees, agents and Affiliates, in respect of, and hold each
of them harmless from and against any and all Losses (whether or not involving any Person not a party to this Agreement) suffered, incurred
or sustained by any of them or to which any of them becomes subject, resulting from, arising out of or relating to any misrepresentation
or breach of warranty or nonfulfillment of or failure to perform any covenant or agreement on the part of the Company contained in this
Agreement (including any certificates delivered in connection herewith).

 

(b)            
The Investor shall indemnify the Company and its officers, directors, stockholders, members, partners, employees, agents and Affiliates,
in respect of, and hold each of them harmless from and against any and all Losses (whether or not involving any Person not a party to
this Agreement) suffered, incurred or sustained by any of them or to which any of them becomes subject, resulting from, arising out of
or relating to any misrepresentation or breach of warranty or nonfulfillment of or failure to perform any covenant or agreement on the
part of the Investor contained in this Agreement

 

7.2            
Right to Rely. Notwithstanding any right of the Investor
(whether or not exercised) to investigate the affairs of the Company or any right of any Party (whether or not exercised) to investigate
the accuracy of the representations and warranties of the other Party contained in this Agreement, the Company, on the one hand, and the
Investor, on the other hand, has the right to rely fully upon the representations, warranties, covenants and agreements of the other contained
in this Agreement.

 

ARTICLE
VIII.

DEFINITIONS

 

8.1            
Definitions. (a) As used in this Agreement, the following defined terms shall have the meanings indicated below:

 

“Affiliate”
means, with respect to any Person, any other Person that controls, is controlled by or is under common control with such Person. For the
purposes of this definition, “control” (including, with its correlative meanings, the terms “controlling”, “controlled
by”, and “under common control with”) as applied to any Person, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of that Person, whether through ownership of voting securities or
by contract or otherwise.

 

“Agreement”
has the meaning ascribed to it in the forepart hereof.

 

“Applicable Law”
means the law of any jurisdiction, whether international, multilateral, multinational, national, federal, state, provincial, local or
common law, an Order or act, statute, ordinance, regulation, rule, collective bargaining agreement, extension order or code promulgated
by a Governmental Authority.

 

    	 	- 13 -	 

     

    

 

“Assets and Properties”
of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether
tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related
thereto, operated, owned or leased by such Person.

 

“Business Day”
means a day other than Saturday, Sunday or any day on which banks located in the State of New York are authorized or obligated to close.

 

“Business or Condition
of the Company” means the business, condition (financial or otherwise), results of operations and Assets and Properties of the
Company.

 

“Closing”
means the closing of the sale of Shares by the Company to the Investor as contemplated by Section ‎1.3, which Closing is
contemplated to occur on or about the date of this Agreement.

 

“Closing Date”
means the date of the Closing.

 

“Code”
means the Internal Revenue Code of 1986, as amended, or any successor statute.

 

“Common Stock”
has the meaning ascribed to it in the Recitals to this Agreement.

 

“Company”
has the meaning ascribed to it in the forepart of this Agreement.

 

“Contract”
means any agreement (including licenses with non-governmental Persons), lease, evidence of Indebtedness, mortgage, indenture, security
agreement or other contract whether written or oral.

 

“Disclosure Schedule”
means the disclosure schedule delivered to the Investor by or on behalf of the Company, containing all lists, descriptions, exceptions
and other information and materials as are required to be included therein by the Company pursuant to this Agreement.

 

“Financial Statements”
has the meaning ascribed to it in Section ‎2.6.

 

“GAAP”
means U.S. generally accepted accounting principles, consistently applied.

 

“Governmental Authority”
means any governmental, regulatory or administrative authority, agency, body, commission or other entity, whether international, multinational,
national, regional, state, provincial or of a political subdivision; any court, judicial body, arbitration board or arbitrator; any tribunal
of a self-regulatory organization; or any instrumentality of any of the foregoing, including for the avoidance of doubt the Securities
and Exchange Commission.

 

“Indebtedness”
of any Person means all obligations of such Person (a) for borrowed money, (b) evidenced by notes, bonds, debentures or similar instruments,
(c) for the deferred purchase price of goods or services (other than trade payables or accruals incurred in the ordinary course of business),
(d) under capital leases and (e) in the nature of guarantees of the obligations described in clauses (a) through (d) above of any other
Person.

 

    	 	- 14 -	 

     

    

 

“Intellectual Property”
means all rights, title and interest in or relating to intellectual property, whether protected, created or arising under the Laws of
the United States or any other jurisdiction including, collectively, (i) patents (including, without limitation, utility models), patent
applications and statutory invention registrations, together with all counterparts, reissues, divisions/divisionals, continuations, continuations-in-part,
extensions, provisional or supplemental protection certificates, renewals and reexaminations thereof; (ii) copyrights and mask works,
database and design rights, related rights and moral rights, together with all registrations and applications therefor, and all extensions
and renewals thereof; (iii) confidential and proprietary information, including trade secrets, processes and know-how; (iv) Software;
(v) rights of privacy and publicity and (vi) other unregistered intellectual property.

 

“Investor”
has the meaning ascribed to it in the forepart of this Agreement.

 

“Knowledge”
means, with respect to the Company, the actual knowledge of the executive officers of the Company after reasonable due inquiry.

 

“Law” or
 “Laws” means all laws, statutes, rules, regulations, ordinances and other pronouncements having the effect of law of
the United States, any foreign country or any domestic or foreign state, county, city or other political subdivision or of any Governmental
Authority.

 

“Liabilities”
means all Indebtedness, obligations and other liabilities of a Person, whether absolute, accrued, contingent, known or unknown, fixed
or otherwise, or whether due or to become due.

 

“Licenses”
means all licenses, permits, certificates of authority, authorizations, approvals, registrations, franchises and similar consents granted
or issued to the Company by any Governmental Authority.

 

“Liens”
means any mortgage, pledge, assessment, security interest, lease, lien, adverse claim, levy, charge or other encumbrance of any kind,
other than transfer restrictions under applicable securities laws.

 

“Loss”
means any and all damages, fines, fees, taxes, penalties, deficiencies, losses and expenses, including interest, reasonable expenses of
investigation, court costs, reasonable fees and expenses of attorneys, accountants and other experts or other expenses of litigation or
other proceedings or of any claim, default or assessment (including, without limitation, fees and expenses of attorneys, incurred in connection
with (i) the investigation or defense of any claim made by a Person not a party hereto and (ii) asserting or disputing any rights under
this Agreement against any Party or otherwise).

 

“Option”
with respect to any Person means any security, right, subscription, warrant, option, or convertible or exchangeable instrument that gives
the right to purchase or otherwise receive or be issued any shares of capital stock or other equity interests of such Person or any security
of any kind convertible into or exchangeable or exercisable for any shares of capital stock or other equity interests of such Person and
shall also include any “phantom” stock right or other right to participate in the equity, income or election of directors
or officers.

 

    	 	- 15 -	 

     

    

 

“Order”
means any order, judgment, injunction, assessment, award, decree, ruling, charge or writ of any Governmental Authority.

 

“Person”
means any natural person, corporation, general partnership, limited partnership, limited liability company or partnership, proprietorship,
other business organization, trust, union, association or Governmental Authority.

 

“Proceeding”
means any suit, legal proceeding, administrative enforcement proceeding or arbitration proceeding before any Governmental Authority.

 

“Purchase Price”
has the meaning ascribed to it in Section ‎1.2.

 

“SEC” means
the U.S. Securities and Exchange Commission.

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations thereunder.

 

“Shares”
has the meaning ascribed to it in the Recitals.

 

 

ARTICLE
IX.

MISCELLANEOUS

 

9.1            
Notices. All notices, requests, consents and other communications under this Agreement to any Party must be in writing and
are deemed duly delivered when (a) delivered if delivered personally or by nationally recognized overnight courier service (costs prepaid),
(b) sent by facsimile with confirmation of transmission by the transmitting equipment (or, the first Business Day following such transmission
if the date of transmission is not a Business Day), or (c) sent by electronic mail (electronically confirmed), in each case to the following
addresses or facsimile numbers and marked to the attention of the individual (by name or title) designated below (or to such other address,
facsimile number or individual as a Party may designate by notice to the other Parties):

 

(i)              
If to the Investor:

 

    Takung Art Co., Ltd.

    Room 709 Tower 2, Admiralty Centre, 18 Harcourt Road,

    Admiralty, Hong Kong

    Attention: CHAN Sze

    Email: chansze@takungae.com

 

    	 	- 16 -	 

     

    

 

(ii)            
If to the Company:

 

    Objects Provenance Holdings Ltd.

    Vistra Corporate Services Centre,

    Wickhams Cay II, Road Town,

    Tortola, VG1110, British Virgin Islands,

    Attention: HO Shu Ming

    Email: angus@Zhen.io

 

Any Party from time to time
may change its address, facsimile number or other information for the purpose of notices to that Party by giving notice specifying such
change to the other Parties.

 

9.2            
Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter
hereof, they supersedes all prior or contemporaneous agreements, representations, or understandings, written or oral, explicit or implied,
concerning the subject matter hereof.

 

9.3            
Expenses. Each Party will pay its own costs and expenses incurred in connection with this Agreement and the transactions
contemplated hereby.

 

9.4            
Amendments and Modifications. No amendment, modification, or variation of any provision of this Agreement shall in any event
be effective unless the same shall be in writing and signed by each Party.

 

9.5            
No Waiver. The failure of any Party, at any time or times, to require strict performance by the other Party hereto of any
provision of this Agreement shall not waive, affect or diminish any right of such Party thereafter to demand strict compliance and performance
herewith. Any suspension or waiver of any provision of this Agreement shall not suspend, waive or affect any other provision of this Agreement
whether the same is prior or subsequent thereto. None of the undertakings, agreements and covenants of any Party hereto contained in or
contemplated by any other provision of this Agreement shall be deemed to have been suspended or waived by any other Party hereto, unless
such waiver or suspension is by an instrument in writing signed by an officer of or other authorized employee of such Party and directed
to the other Party hereto specifying such suspension or waiver.

 

9.6            
Third Party Beneficiaries. The terms and provisions of this Agreement are intended solely for the benefit of each Party
and their respective successors and assigns, and it is not the intention of the Parties to confer third-party beneficiary rights, and
this Agreement does not confer any such rights, upon any other Person other than any Person entitled to indemnity under Article VII.

 

9.7            
Binding; No Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of
the Parties and their respective successors and assigns (by operation of law or otherwise). The Company may not assign its rights or obligations
under this Agreement without the consent of the Investor.

 

    	 	- 17 -	 

     

    

 

9.8            
Headings. The descriptive headings of the several Articles and Sections contained in this Agreement are and shall be without
substantive meaning or content of any kind whatsoever and are not a part of the agreement between the Parties.

 

9.9            
Invalid Provisions. Wherever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective
and valid under applicable Law, but if any provision of this Agreement shall be prohibited by or invalid under applicable Law, such provision
shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining
provisions of this Agreement.

 

9.10        
Governing Law; Consent to Jurisdiction. In all respects, including all matters of construction, validity and performance,
this Agreement shall be governed by, and construed and enforced in accordance with, the internal Laws of the State of New York applicable
to contracts made and performed in that state and any applicable Laws of the United States of America. Each Party hereby irrevocably and
unconditionally submits, for itself and its property, to the exclusive jurisdiction of the state and federal courts of the State of New
York in any Proceeding arising out of or relating to this Agreement or the transactions contemplated hereby or for the recognition or
enforcement of any judgment relating thereto, and each of the Parties irrevocably and unconditionally (i) agrees not to commence any such
Proceeding except in such courts, (ii) agrees that any claim in respect of any such Proceeding may be heard and determined in the courts
of the State of New York or, to the extent permitted by Applicable Law, in such state or federal court, (iii) waives, to the fullest extent
it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any such Proceeding in
the courts of the State of New York or such state or federal court and (iv) waives, to the fullest extent permitted by Applicable Law,
the defense of an inconvenient forum to the maintenance of such Proceeding in the courts of the State of New York or such state or federal
court. Each of the Parties agrees that a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by Applicable Law. Each Party irrevocably consents to service of process in the
manner provided for notices in Section 8.1. Nothing in this Agreement will affect the right of any Party to serve process in any
other manner permitted by Applicable Law.

 

9.11        
WAIVER OF JURY TRIAL. THE PARTIES WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE
ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, BETWEEN THE PARTIES HERETO ARISING OUT OF, CONNECTED WITH, RELATED TO, OR
INCIDENTAL TO THIS AGREEMENT.

 

9.12        
Further Assurances. At any time or from time to time after the Initial Closing, the Company, on the one hand, and the Investor,
on the other hand, agree to cooperate with each other, and at the request of the other Party, to execute and deliver any further instruments
or documents and to take all such further action as the other Party may reasonably request in order to evidence or effectuate the consummation
of the transactions contemplated hereby and to otherwise carry out the intent of the Parties hereunder.

 

    	 	- 18 -	 

     

    

 

9.13        
Publicity. The Company shall not issue any press release or make any public disclosure indicating that the Investor is a
party to this Agreement unless such press release or public disclosure shall be approved by the Investor in advance.

 

9.14        
Construction. The Parties agree that this Agreement is the product of negotiation between sophisticated parties and individuals,
all of whom were represented by counsel, and each of whom had an opportunity to participate in and did participate in, the drafting of
each provision hereof. Accordingly, ambiguities in this Agreement, if any, shall not be construed strictly or in favor of or against any
Party but rather shall be given a fair and reasonable construction without regard to the rule of contra proferentum. Any reference
in this Agreement to a “Section,” “Exhibit” or “Disclosure Schedule” refers to the corresponding Section,
Exhibit or Disclosure Schedule of or to this Agreement, unless the context indicates otherwise. The headings of Sections are provided
for convenience only and are not intended to affect the construction or interpretation of this Agreement. The words “including,”
 “includes” or “include” are to be read as listing nonexclusive examples of the matters referred to, whether or
not words such as “without limitation” or “but not limited to” are used in each instance. Where this Agreement
states that a Party “shall,” “will” or “must” perform in some manner or otherwise act or omit to act,
it means that the Party is legally obligated to do so in accordance with this Agreement. Any reference to a statute is deemed also to
refer to any amendments or successor legislation as in effect at the relevant time. Any reference to a contract or other document as of
a given date means the contract or other document as amended, supplemented and modified from time to time through such date. Any words
(including capitalized terms defined herein) in the singular will be held to include the plural and vice versa and words (including capitalized
terms defined herein) of one gender will be held to include the other gender as the context requires. The terms “hereof,”
 “herein” and “herewith” and words of similar import will, unless otherwise stated, be construed to refer to this
Agreement as a whole and not to any particular provision of this Agreement. All references to any period of days will be deemed to be
to the relevant number of calendar days unless otherwise specified. All references herein to “$” or dollars will refer to
United States dollars, unless otherwise specified. All accounting terms not otherwise defined herein have the meanings given to them in
accordance with GAAP.

 

9.15        
No Commitment for Additional Financing. The Company acknowledges and agrees that Investor has not made any representation,
undertaking, commitment or agreement to provide or assist the Company in obtaining any financing, investment or other assistance, other
than the purchase of the Shares as set forth herein and subject to the conditions set forth herein.

 

9.16        
Counterparts. This Agreement may be executed in any number of separate counterparts, each of which shall collectively and
separately constitute one agreement.

 

[Remainder of page intentionally left blank;
signature page follows]

 

    	 	- 19 -	 

     

    

 

IN WITNESS WHEREOF, this Agreement
has been duly executed and delivered by the duly authorized officer of each party hereto as of the date first above written.

 

 

	 	OBJECTS PROVENANCE HOLDINGS LIMITD
	 	 	 
	 	 	 
	 	By:	/s/ Angus Ho
	 	 	Name: Angus Ho
	 	 	Title: Director
	 	 	 
	 	 	 
	 	 	 
	 	TAKUNG ART CO., LTD.
	 	 	 
	 	 	 
	 	By:	/s/ Xiaoyu Zhang
	 	 	Name: Xiaoyu Zhang
	 	 	Title: Director

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