Document:

Exhibit 10.7

 

Supplemental Agreement to Lease Agreement

 

Lessor (Party A): Feng Lijie

Address: 24C, Block 2, Mont Orchid Riverlet Stage 2, Yanshan Road, Nanshan District, Shenzhen

Postal code:   518000 (notice delivery address)

Contact telephone:  0755-26442688

 

Lessee (Party B): Shenzhen Pengai Aesthetic Medical Hospital Co., Ltd. (collectively, the “Pengai Aesthetic Medical Hospital”)

Address: 1122 Nanshan Boulevard, Nanshan District, Shenzhen

Postal code:    518008 (notice delivery address)

Legal represent:    Zhou Pengwu

Contact telephone:  0755-25598065

 

Whereas:

 

1.              Party A and Party B entered into the lease agreement on 28 March 2015, pursuant to which Party B leased 1122 Nanshan Boulevard, Nanshan District, Shenzhen (which is recorded in the real estate title certificate as Floor 1(48), 2,3,4, Block7, South Oil Fourth Industry Park  owned by Party A.

 

2.              The term of the aforesaid lease agreement will expire on May 9, 2017.

 

3.              The term of use recorded in the real estate title certificate will expire in 2018, and Party A shall complete relevant procedures to extend the term of use of the property before October 10, 2017.

 

For the matters during the period from the expiry date of leasing term to the date of application to extend the term of use of the property by Party A, Party A and Party B reach the following supplementary agreements upon full negotiation:

 

I.                      Party B agrees to continue to lease the above property during the period from the expiry date (i.e. May 9 2017) of leasing term to the date of application to extend the term of use of the property by Party A. Party A agrees to rent out the property in accordance with this supplementary agreement.

 

II.                 Both parties confirm that Party A plans to file an application for completing the procedures to extend the term of use of this property tentatively in October 2017.

 

III.            Both parties agree that the rental is RMB 516,803.27 per month for the period from May 9, 2017 to the date of application to extend the term of use of the property by Party A (tentatively in October 2017).

 

IV.             In the principal of payment of rent before use of the leased property, Party B shall pay the rental once every two months, Party B shall pay the rental of RMB1,033,606.54 in total for May and June before May 9, 2017, and subsequent rental shall be paid so forth.

 

 

Party A shall issue tax invoices of the rental to Party B. Party B shall bear the taxes and fees arising thereof in an amount equals to 6% of the rental. Party B shall pay rental and relevant taxes fees to Party A within three working days from the date on which Party A issue a tax invoice (company checks will not be accepted).

 

V.                  Rental deposit paid by Party B, i.e. RMB937,551.6 (Nine Hundred and Thirty-seven Thousand Five Hundred and Fifty-one Yuan and Six Jiao in capital letters) will continue to be deemed as the deposit of the supplementary agreement.

 

VI.       Other Fees

 

1.              During the lease term, Party A shall bear and be responsible for paying the land use tax in connection with the Leased Property.

 

2.              During the lease term, Party B shall bear and be responsible for paying any taxes other than the land use tax, including other related fees incurred as a result of using the Leased Property such as body maintenance funds, lease house (building) management fee, lease tax of the Leased Property (6% of the total amount), the water and electricity charges, cleaning fee, property management fee and elevator maintenance fee.

 

3.              During the lease term, Party B shall be responsible for paying the elevator use fee of RMB1,000 per month, which shall be paid together with the rental.

 

VII.  Specific Clause

 

Both parties confirm that Party A plans to file an application for completing the procedures to extend the term of use of this property tentatively in October 2017 and comply with the government requirements, including site inspection, plotting, or partial site rectification and suspension.

 

Party B undertakes that Party B will unconditionally suspend the operation of business and move all items out from the Leased Property within 60 days from the date on which Party A issue a written notice in the event that the application filed by Party A is not approved by the government within 60 days from the date on which Party A files the application documents.

 

Party B shall pay liquidated damages of RMB50,000 per day for overdue period if Party B fails to not move out as scheduled. If Party B’s failure to move out result in Party A’s failure to extend the term of use of the property, Party B shall compensate all loss to Party A at twice of the then current transaction price of the property which is not less than RMB500 million.

 

VIII.  any content not specified in this supplementary agreement shall be performed in accordance with the original lease agreement.

 

 

IX.      This supplementary agreement is made in quadruplicate, and each of Party A and Party B shall have two copies respectively, each with same legal effect. This supplementary agreement shall take effect upon signing by both parties.

 

 

	
Signed and sealed by   Party A:
    	
Signed and sealed by   Party B:
    
	
/s/ Feng Lijie
    	
 
    	
[Seal of Shenzhen   Pengai Aesthetic Medical Hospital Co., Ltd.]
    
	
 
    	
/s/ Zhou Pengwu
    
	
 
    	
/s/ Hu Qing
    
			

 

Signing Date: May 9, 2017

 

Signing Location: Shenzhen, Chinapvnc_ex103.htm

EXHIBIT 10.3
 
LOAN CONVERSION AGREEMENT
 
This Loan Conversion Agreement (“Agreement”) is made and entered into this the 25th day of September 2019 (“Effective Date”) by and between Prevention Insurance.com, a Nevada company (the “Company”) and Copper Hill Assets Inc., a British Virgin Island company (“Lender”).
 
*W I T N E S S E T H *
 
WHEREAS, as of the date hereof, Lender has loaned to the Company in the amount of Three Hundred and Seventy Two Thousand, Eight Hundred and Twenty Three Dollars ($372,823) USD as set forth on the attached schedule) (“Loan”), the receipt of which is hereby acknowledged by the Company, 
 
WHEREAS, the parties desire to fully discharge the Loan by issuing common stock of the Company to Lender in full satisfaction thereof, 
 
NOW THEREFORE, in consideration of the mutual covenants, terms and conditions contained herein, the parties do hereby covenant, warrant and agree as follows:
 
ARTICLE I
LOAN AND DISCHARGE 
 
1.01. Loan. The parties do hereby acknowledge that as of the date hereof the Loan is due and payable in favor of Lender. 
 
1.03. Discharge of Loan. The parties hereby agree that in consideration of the full and final discharge of the Loan, the Company shall issue to Lender a total of 5,000,000 shares of common stock of the Company (“Common Stock”) (with an approximate effective value of $0.075 per share). The discharge of the Loan shall be effective as of the Effective Date, however, it is subject to Lender’s receipt of the Common Stock. Accordingly, upon receipt of such Common Stock, Lender hereby forever waives and discharges any and all claims, demands and actions with respect to the Loan, including accrued and unpaid interest thereon.
 
ARTICLE II
REPRESENTATIONS AN WARRANTIES OF COMPANY
 
As of the date hereof, the Company hereby represents and warrants to Lender as follows:
 
(i). Good Standing. The Company is duly organized, validly existing and in good standing under the laws of the state where it is incorporated and in other jurisdictions where it conducts business, and there are no subsidiaries of the Company.
 
(ii). Corporate Authority. The Company has (or will have when issued) full corporate power and authority to execute and deliver this Agreement and the Common Stock. Each of this forgoing instruments have been (or will be when issued) duly authorized, executed and delivered on behalf of the Company and constitutes valid and binding agreements of the Company, enforceable in accordance with their terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors’ rights generally and (b) as limited by equitable principles generally. The consummation of the transactions contemplated herein and the fulfillment of the terms herein will not result in a breach of any of the terms or provisions of the Company’s Certificate of Incorporation or by-laws.
 
	 
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ARTICLE III
REPRESENTATIONS AND WARRANTIES AND 
ACKNOWLEDGMENTS BY LENDER
 
3.01. As of the date hereof, Lender hereby represents and warrants to the Company as follows:
 
(i). Securities. The securities issuable hereunder (“Securities”) are being acquired for his own account and not as nominee for any other party, for investment purposes and not with a view to any resale or distribution thereof.
 
(ii). Corporate Information. It has received all information which he considers necessary or appropriate for deciding to make an investment in the Company as contemplated herein.
 
(iii). Accredited Investor. It is an “accredited investor” as defined under Regulation D promulgated under the Act.
 
3.02. Acknowledgments. Lender acknowledges and understands that:
 
(i). The Securities are being acquired in a transaction which is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”), and that it understands that such securities are illiquid, may be required to be held indefinitely, unless registration is available, including Rule 144 under the Act, and that they must, accordingly, bear the economic risk of its investment for an indefinite period of time,
 
(ii). The Company has a limited financial and operating history; the investment contemplated hereby is speculative and involves a high degree of risk,
 
(iii). There are substantial restrictions on the transferability of the Securities; there will be no public market for an investment in the Securities; the undersigned may not be able to avail himself of the provisions of Rule 144 adopted by the Securities and Exchange Commission under the Act with respect to the resale of an investment in the Securities; and, accordingly, he may have to hold such investment indefinitely and that it may not be possible for him to liquidate his investment in the Securities,
 
(iv). The respective certificates or instrument evidencing the Securities will bear the following restrictive legend, and
 
“The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Act”) or any state securities law. These shares have been acquired for investment and may not be offered for sale, hypothecated, sold or transferred, nor will any assignee or transferee thereof be recognized by the Company as having any interest in such shares, in the absence of (I) an effective registration statement with respect to the shares under the Act, and any other applicable state law or any opinion of counsel satisfactory to the Company that such registration is not required, or (ii) an opinion of counsel satisfactory to the Company that such shares will be offered for sale, hypothecated, sold or transferred only in a transaction which is exempt under or is otherwise in compliance with the applicable securities laws.”
 
	 
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ARTICLE IV
ENTIRE AGREEMENT, MODIFICATION, WAIVER AND HEADINGS
 
4.01. Entire Agreement; Modification. This Agreement, including the exhibits and schedules, constitute the entire agreement between the parties hereto pertaining to the subject matter herein and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions among the parties, written or otherwise. No supplement, modification or waiver or termination of this Agreement shall be binding unless executed in writing by the party to be bound thereby. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided.
 
4.02. Headings. Section captions or headings are included herein for convenience purposes only and are not to be construed as an accurate description of the contents therein.
 
4.03. Incorporation by Reference. The recitals, exhibits, schedules and documents referred to in this Agreement are incorporated herein for all purposes.
 
4.04. Multiple Counterpart Execution; Governing Law. This Agreement may be executed in multiple counterparts, which each counterpart constituting a binding agreement between the signatory parties, and with all such counterparts constituting an integrated document. This Agreement shall be construed and governed by the laws of the State of Nevada. In lieu of the original, a facsimile or PDF electronic transmission or copy of the original shall be as effective and enforceable as the original.
 
4.05. Survival of Representations and Warranties. All representations, warranties, and covenants made by the parties herein shall survive the execution of this Agreement and shall be forever enforceable.
 
4.06. Severability. If any provision of this Agreement is invalid, illegal or enforceable, the balance of this Agreement shall remain in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and circumstances.
 
	 
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IN WITNESS WHEREOF, the parties have caused this Agreement to be effective as of the Effective Date.
 
COMPANY
Prevention Insurance.com 
 
/s/ Anthony Lococo
Anthony Lococo 
Chief Executive Officer
 
Lender 
Copper Hill Assets Inc.
 
/s/ Anthony Lococo
Anthony Lococo 
Chief Executive Officer
 
	 
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