Document:

ex10-26.htm

Exhibit 10.26

 

 

 

 

 

Shenzhen Housing Leasing

 

 

 

 

Agreement

 

 

 

 

 

Prepared by Shenzhen Housing Leasing Administration Office

 

 

 

 

 

 

Notes to the registration (record) of housing leasing agreements

 

A.     Information to be submitted for the housing leasing agreement registration (record):

 

	
(A) 
	
A certificate of property rights or other valid documents as the proof of ownership (the right to use), and the original document shall be presented, with the copy for record.

 

(B) The identification documents or proof of legal status of the lessor and lessee or other legal qualifications, including:

 

	 	
1. 
	
Individuals

 

The ID card or other proof documents of legal status (the original paper shall be presented, with the copy for record).

 

	 	
2. 
	
Organizations

 

The establishment document or the organization code certification of the entity and the original document shall be provided, with the copy for record; 

 

The original certificate of the legal representative

 

(C) In case of housing held in trust, a power of attorney and the identification of agent shall be provided; when others are entrusted to rent or to lease, the agent shall provide the power of attorney as well as his own identification.

 

	
(D) 
	
In case of joint ownership of the housing, it is required to provide proof of rental agreement by all co-owners and the power of attorney.

 

	
(E) 
	
Housing leasing agreement.

 

As for the power of attorney abovementioned in (C) and (D), the original document shall be collected while such papers by overseas parties should be notarized and legalized in accordance with relevant requirements.

 

B.     For a description of the filing for housing leasing agreement:

 

Pursuant to Article 6 and Article 7.2 of the Regulations of Shenzhen Special Economic Zone on House Leasing, where the house to be leased cannot be registered according to the above regulations, the parties shall bring with the relevant information of the house and the identification document of related party to the competent district authorities for record.

 

 

 

 

 

 

 

Housing Leasing Agreement

 

 

	
 Lessor (Party A):
	
 

 

	
Housing Information Coding Card:
	
 

 

	
Address:
	
 

 

	
Zip: 
	 	
Phone:
	13828875555 

 

	
Number of organization code certificate or ID card:
	
 440524197406182919  

 

	
Entrusted Agent: 
	
 

         

	
Address: 
	
 

      

	
Zip:
	
 
	
Phone:
	
 

      

	
Number of organization code certificate or ID card: 
	
 

 

 

 

	
Lessee (Party B): 
	
Talon Zipper (Shenzhen) Co., Ltd.

 

	
Address:
	
Room 1601-1608, Block C, Tian’an International Building, Renmin 

	 	Road S., Luohu District, Shenzhen 

 

	
Zip:
	
518001     
	
Phone:
	
82351725 

 

	
Number of organization code certificate or ID card:
	
79046501-2

 

	
Entrusted Agent: 
	
 

 

	
Address:
	
 

 

	
Zip:
	
 
	
Phone:
	
 

 

	
Number of organization code certificate or ID card: 
	
 

 

 

 

According to the Contract Law of PRC, the PRC Urban Real Estate Administration Law, the Regulations of Shenzhen Special Economic Zone on House Leasing and the detailed rules for implementation, and the Decision by Shenzhen Municipal People's Congress Standing Committee on Strengthening Security Responsibility of House Leasing, Party A and Party B, after mutual consultation, have agreed to conclude this contract.

 

Article 1 Party A shall lease to Party B the premises located in Rooms 1601, 1602,1603, 1604, 1605, 1606, 1607 and 1608 Building C, Tian An International Building, Renmin Road S., Luohu District, Shenzhen City. (Hereinafter referred to as the House to be leased)

 

 

 

 

  

 

The total floor area of the Leased House shall be 944.6 square meters. Holder of the rights in the Leased House:; the name and number of property rights certificates or other valid documents for ownership (the right to use): 2000535049, 2000535048, 2000535046, 2000535051, 2000535043, 2000535039, 2000535042, and 2000535041.

 

Article 2 The unit monthly rental of the Leased House shall be RMB / (in words: RMB / ) per square meter based on the building area, and the total monthly rental shall be RMB 103,906.00 (in words: RMB one hundred and three thousand nine hundred and six)

 

Article 3 Party B shall pay the first installment of the rental of RMB 103,906.00 (in words: RMB one hundred and three thousand nine hundred and six) by August 15, 2015.

 

Article 4 Party B shall pay the rental to Party A by: 

 

	
☑
	
by the 20th day of every month; 

 

	
☐
	
by the ___ day of the ___ month of every quarter; 

 

	
☐
	
by the ___day of the ___month of every six months; 

 

	
☐
	
by the ___day of the ___ month of every year;

 

When Party A collects the rental, Party A shall issue a tax invoice to Party B. 

 

(Both parties shall select one out of the four payment modes as mentioned above, and mark in the box selected with "√") 

 

Article 5 The lease term of the House to be leased by Party B shall be from August 15, 2015 to October 31, 2020. 

 

The term stipulated in the foregoing paragraph shall be neither longer than the approved term for land use, nor more than 20 years, and no term beyond such limit shall be valid.

 

Article 6 The purpose of the Leased House: Office.

 

Without the written consent of Party A, Party B shall not use the Leased House for other purposes.

 

Article 7 Party A shall deliver the Leased House to Party B before August 15, 2012 for use, and go through the relevant handover procedures by the date.

 

If Party A makes a delivery of the Leased House that later than the time in the above paragraph, Party B may require a corresponding extension of the term of this contract, and the parties shall sign a written document to confirm and file with the contract registration (record) authorities.

 

Article 8 Upon the delivery of the Leased House, both parties shall confirm the related status of the Leased House and the ancillary facilities etc. at that time and record the same in the Addenda hereto.

 

Article 9 Upon the delivery of the Leased House, Party A can collect from Party B an amount of Nil__ months (no more than three months) of the rental as the deposit for the lease, namely, RMB119,019.6 (In words: RMB One Hundred and Nineteen Thousand Nineteen Six Yuan and Sixty Cents).

 

 

 

 

 

 

When collecting the deposit, Party A shall issue the receipt to Party B.

 

Party A shall return the lease deposit to Party B under conditions as follows:

 

	
1. 
	
;
	
 

	
 
	
 
	
 

	
2. 
	
;
	
 

	
 
	
 
	
 

	
3. 
	
;
	
 and

 

	
☐
	
Only one of the above conditions need be satisfied.

 

	
☐
	
All conditions have to be satisfied.

 

(The parties shall jointly choose either of the above two ways, with the selected one to be identified by "√")

 

The means and timing for the return of the lease deposit:                                          

 

Party A may not return the deposit under any of the following circumstances: 

 

	
1.
	
;
	
 

	
 
	
 
	
 

	
2.
	
;
	
 

	
 
	
 
	
 

	
3.
	
;
	
 

 

Article 10 During the lease period, Party A shall be responsible for payment of the land use fees and taxes generated from the Leased House, lease management fees and           charges; and Party B shall be responsible for the timely payment of water and electricity fees, sanitation costs, housing (building) property management fees,           charges of the Leased House and other expenses arising from the Leased House.

 

Article 11 Party A shall ensure that the delivered Leased House and its ancillary facilities comply with the requirements of the relevant safety laws, regulations and/or rules.

 

Article 12 Party B shall make the rational use of the Leased House and its ancillary facilities, and shall not engage in the illegal use of the Leased House; and to the normal and reasonable use of the Leased House by Party B, Party A shall not conduct any disturbance or barrier.

 

Article 13 During the use of the Leased House by Party B, provided that not caused by Party B, the Leased House or its auxiliary facilities emerges or happens any damage or failure that hampers security or normal use, then Party B shall promptly notify Party A and take effective measures to prevent the defects from further worsening . Party A shall, within SEVEN days upon the receipt of such notice, carry out the maintenance or directly appoint Party B to repair on behalf of Party A; and if Party B cannot notify Party A or Party A fails to perform the maintenance obligation within the aforesaid time after receiving the notice, Party B can conduct the corresponding repair on behalf of Party A. In case of any extreme emergency that in need of an immediate repair, Party B shall first conduct the maintenance and promptly notify Party A the related situation in a timely manner.

 

 

 

 

The maintenance expenses (including such reasonable costs incurred by Party B on behalf of Party A and due to prevent the defects from worsening) under such two circumstances specified above shall be borne by Party A. Provided that Party B fails to fulfill the obligations under the above two paragraphs, namely failing to notice Party A in a timely manner or failing to take possibly effective measures, and resulted in the expansion of loss, the (additional) part of maintenance costs shall be borne by Party B.

 

Article 14 If due to improper or unreasonable use by Party B, the Leased House or its auxiliary facilities emerges or happens any damage, failure or other such abnormal circumstances that hinder safety, Party B shall be responsible for repair or compensation as well as the timely notification to Party A.

 

If Party B alters the internal structure, decorate or setting has an impact on building structure of equipment, design size, scope, process, materials such as solution can be construction after get Party A’s written consent. If the Lease Period expires or surrender of tenancy because of Party B’s responsibility, Party A is entitled to choose one of the following rights, unless otherwise agreed:

 

	
☑
	
All attached decoration to the house owned by Party A.

 

	
☐
	
Require Party B restore the original state.

 

	
☐
	
Charge Party B the actual fee in the recovery engineering.

 

 

 

(The parties shall work together to choose from above three options, with the selected one to be identified by "√")

 

Article 15

 

	
☐
	
During the lease period, Party B may sublet all or part of the Leased House to other parties, and go to the housing leasing authorities for registration (record) procedures. But such sublease shall not exceed the contractual lease term;

 

	
☑
	
During the lease period, with the written consent for sublease by Party A, Party B can present the written evidence to the rental registration (record) authorities for handling procedures. But such sublease shall not exceed the contractual lease term;

 

	
☐
	
During the lease period, Party B shall not sublease all or part of the Leased House to other parties. 

 

(The two parties shall work together to choose from above three options, with the selected one to be identified by "√")

 

Article 16 Within the validity period of this agreement, when Party A needs to transfer all or part of the property right of the Leased House, Party A shall notify Party B in writing one month prior to such transfer while Party B shall, upon the receipt of such notice, response to Party A within TEN working days, and Party B has a preemptive right of purchase under the same conditions. 

 

 

 

 

  

 

When transferring the Leased House to other parties, Party A has the responsibility to inform the transferee that it is required to continue performing this Agreement.

 

 

Article 17 Within the validity term of the contract, it will be allowed to terminate or change under any of the following circumstances:

 

	
(A) 
	
An event of force majeure, the contract is unable to perform;

 

	
(B) 
	
The Leased House is under governmental acquisition, recovery or removal;

 

	
(C) 
	
Party A and Party B reach a consensus through consultation. 

 

Article 18 As any loss arisen form any of the following circumstances, Party A may:

 

	
☐
	
1. Request Party B to restore the housing to the original condition;

 

	
☐
	
2. Request Party B to compensate damages;

 

	
☑
	
3. Non-refund the lease deposit;

 

	
☐
	
4. Require Party B to pay liquidated damages of RMB           (in words:          ).

 

(The above four ways can be selected by two parties through consultation, but the items 3 and 4 cannot be chosen simultaneously, with "√" to identify the selected options):

 

	
(A) 
	
Party B delays the rent payment up to 30 days (ONE month) or more;

 

	
(B) 
	
The possible loss of Party A due to the payment delay by Party B may approach RMB 50,000 (in words: Fifty Thousand only) or more;

 

	
(C) 
	
Party B uses the Leased House for illegal activities, harming the public interests or the interests of other parties;

 

	
(D) 
	
Party B alters the structure or use of the Leased House without authorization;

 

	
(E)
	
Party B violates the provisions of Article 14 of the agreement and does not assume responsibility for maintenance or to pay maintenance costs, resulting in severe damages to housing or equipment;

 

	
(F) 
	
Without the written consent of Party A and/or approval of relevant departments, Party B on its own will conducts the renovation of the Leased House;

 

	
(G) 
	
Party B subleases the Leased House to a third party without authorization.

 

In addition to pursuing Party B’s liability for damages or the responsibility of breach, Party A has the right to request Party B to alter terms of the agreement or terminate the contract according to the above circumstances; and upon receiving the notice of termination of the contract. Party A has the unilateral right to apply for the discharge of the contract registration (record).

  

 

 

 

 

 

Article 19 As for any loss arisen from the following circumstances, Party B may:

 

	
☐
	
1. Request Party A to compensate damages;

 

	
☑
	
2. Request Party A to double refund the lease deposit;

 

	
☐
	
3. Party A shall pay the liquidated damages of RMB           (in words:             ).

 

(The three methods will be chosen by both parties, but the items 2 and 3 cannot be selected simultaneously; and "√" shall be used to identify the corresponding selection.

 

	
(A) 
	
Party A delays the delivery of the Leased House for days (months) or more;

 

	
(B) 
	
Party A is in violation of Article 11 of the contract, with the safety of the Leased House not meeting the relevant laws, regulations and rules;

 

	
(C) 
	
Party A is in violation of Article 13 of the contract and does not assume responsibility for maintenance or to pay maintenance costs;

 

	
(D) 
	
Without the consent of Party B or the approval of relevant departments, Party A conducts the re-construction, extension or decoration on the Leased House conversion;

 

	
(E) 
	
Without sound reasons, Party A unilaterally requests for an early cancellation (termination) of the contract.

 

In addition to pursue Party A liability for damages or the responsibility of breach, Party B has the right to request Party A to alter terms of the contract or terminate the contract according to the above circumstances; and upon receiving the notice of termination of the contract,, Party B has the unilateral right to apply for the discharge of the contract registration (record).

 

Article 20 Within SEVEN days upon the termination of this contract, Party B shall move out and return the Leased House back to Party A, and ensure the premises and ancillary facilities in good condition (except normal wear and tear); and Party B shall settle all fees borne by it, handling the handover procedures.

 

Provided that after lease term Party B fails to move out or return the House to be leased, Party A shall be entitled to recover the Leased House by laws or contractual provisions, and charge Party B the compensation equivalent to twice of the rental of the overdue part.

 

Article 21 Upon the expiry of lease term under the agreement, Party B needs to continue renting the Leased House, it shall request Party A TWO months prior to such expiry for the renewal of lease, and Party B has the priority to lease the House under the same conditions.

 

Where both parties reach an agreement on the renewal of lease, a new agreement shall be re-entered into and go through re-register (record) at the housing leasing competent authority.

 

Article 22 Both parties shall sign a Responsibility Document of Shenzhen Housing Leasing Security Management. The Leased House provided by Party A shall meet the safety standards and conditions for safe use, without any security risk. The construction, firefighting apparatus, gas facilities, power facilities, entrances and corridors, etc., shall be in consistent with the management provisions or standards by the municipal government on safety production, fire protection, security, environmental protection, hygiene and so on. Party B shall be in strict accordance with the above requirements by the government function departments, and has the obligation to ensure that the Leased House in use carries no security risk. The terms agreed under this contract shall be performed by the parties, and either party in breach of contract shall bear the corresponding responsibility under this contract.

 

 

 

 

  

 

Article 23 As for matters not mentioned in this contract, the parties may agree separately in the attached page(s), of which such content, as a part of this contract, shall has the same effect with this contract upon being sealed by both parties.

 

Where both parties have agreed to change the contract during the lease term, within ten days after the establishment of such changed contract, the two parties shall go to the Leasing Authority for registration (record).

 

Article 24 In case of any dispute arising from this contract, the parties shall negotiate friendly for settlement; if such consultation fails, such dispute can be filed with the housing rental competent department for mediation; and if such mediation fails, either party may: 

 

	
☑
	
Apply for arbitration by Shenzhen Arbitration Commission;

 

	
☐
	
Apply for arbitration by China International Economic and Trade Arbitration Commission Shenzhen Branch;

 

	
☐
	
Summit the dispute to the People’s Court that has the jurisdiction over the location of the Leased House.

 

(The above dispute resolutions are to be chosen by both parties, with the selected one to be identified by "√")

 

Article 25   Both parties agreed on the following mailing addresses for communication or document may be serviced:

 

	
Address of Party A:
	
 
	 
	
 
	
 
	 
	
Address of Party B:
	
 
	 

 

If such addresses are not agreed, the communication address upon the signing of this contract by both parties will be used as the delivery address.

 

Without any written notice for change such above address shall have been effective. Given that one contractual party sends a notice or document to the other party by the delivery address will be deemed to have been serviced. If the document mailed by such above address is returned by the postal department, such return date will be deemed that date of service.

 

Article 26 This contract shall come into effect upon signing by two parties.

 

Within ten days upon the signing of contract, both parties shall go for contract registration (record) at the housing leasing competent authority. 

 

Article 27 The original copy of this agreement is in Chinese.

 

Article 28 This agreement is executed in triplicate, of which Party A holds one copy, Party B holds one copy, the contract registration agency holds one copy, and the relevant department holds

 

Nil copies. 

 

 

 

 

  

 

	
Party A (Signature / Stamp):
	 
	
/s/ Chen Zhen Guang

	
Legal representative:

	
 

	
Phone:

	
 

	
Bank Account:

	
 

	
Agent (Signature /Stamp):

	
 
	
 

	
Signature Date: 08/10/2015
	
 

	
 
	
 

	
 
	
 

	
Party B (Signature /Stamp):
	 
	/s/ Talon Zipper (Shenzhen) Co., Ltd. 
	Legal representative:
	 
	Phone:
	 
	Bank account:
	
 

	Agent (Signature / Stamp):

 

Signature Date: 08/10/2015

 

 

 

 

 

 

Annex of Shen (Luo) No. _________      _______ Contract

 

Supplementary Agreement to Lease Contract

 

 

Party A (hereinafter referred to as “Party A”): Chen Zhen Guang 
ID Card No.: 440524197406182919

 

Party B (hereinafter referred to as “Party B”): Talon Zipper (Shenzhen) Co., Ltd. 

 

 

Article 1 Rental and Term of Lease

 

The term of lease shall be five years and two and a half months: the monthly rental for the first year (from August 15, 2015 to August 14, 2016) shall be RMB 103,906.00 (in words: RMB one hundred and three thousand nine hundred and six ); the monthly rental for the second year (from August 15, 2016 to August 14, 2017) shall be RMB 109,101.00 (in words: RMB one hundred and nine thousand one hundred and one); the monthly rental for the third year and Two and half months (from August 15, 2017 to October 31, 2018) shall be RMB 114,556.00 (in words RMB one hundred and fourteen thousand five hundred and fifty six). The monthly rental for the fourth year (from November 1, 2018 to October 31, 2019) shall be RMB 120,284.00 (in words RMB one hundred and twenty thousand two hundred and eighty four). The monthly rental for the fifth year (from November 1, 2019 to October 31, 2020) shall be RMB 126,298.00 (in words RMB one hundred and twenty six thousand two hundred and ninety eight). The rental duration from August 15, 2015 to October 31, 2018 is fixed Lease Contract period, either Party A or Party B shall not arbitrarily and unilaterally terminate the Lease contract. From November 1, 2018 to October 31, 2020 it is optional lease Contract period, Either Party A or Party B can give out the Termination Contract notice to other party in writing 6 months in advance for any reasons, the notification will be effective upon receiving by the other party. 

 

Party B shall pay the monthly rental to Party A by the 20th day of every month. Where Party B pays the rental in arrears, Party B shall pay the overdue fine to Party A at an amount equal to the days in arrears multiplied by 0.05% of the rental.

 

Article 2 Security Deposit for Management Fee and Guarantee Deposit for Lease 

 

Party B shall pay Party A an amount of RMB 119,019.60 (in words: RMB One Hundred and Nineteen Thousand Nineteen dollar and Sixty cents) as the guarantee deposit for lease and an amount of RMB 51,080.40 (in words: RMB Fifty-one Thousand Eighty Dollars and Four Cents) as the security deposit for management fee. Party A shall return the guarantee deposit for lease and the security deposit for management fee in full to Party B (without interest) within three working days after the term of lease expires and Party B has paid off all payable costs and expenses. 

 

During the term of the Contract, Party B’s guarantee deposit for lease shall not be used for the purpose of rental. 

 

Article 3 Tax and charges

 

The tax and charges that arising from the lease shall be borne by Party A. The aforesaid rentals are all taxes included, and Party A shall issue official invoices accordingly.

 

 

 

 

 

Annex of Shen (Luo) No. _________      _______ Contract

 

Article 4 Return of House and Restoration 

 

The existing fitting of the Leased House was completed by Party B on its own during the last lease period, and now shall continue to be used by Party B together with the House. After the term of lease expires and both parties do not renew the contract, the non-removable part of the fitting shall be owned by Party A. 

 

Party A agrees with Party B’s internal fitting and modification against the Leased House. After the term of lease expires, Party B may return the House with fitting to Party A, and Party A shall not demand Party B to restore the Leased House to the state when Party A delivered the House to Party B for use. 

 

Article 5 Interior decoration

 

If Party B needs to renovate the Leased House, Party B shall firstly present Party A the decoration proposal for approval so as to implement, and also shall handle the procedures for decoration of the venue with the property management company in the location of the lease, with the active assistance by Party A. The decoration program of Party B shall not come into implementation until it has been reviewed and approved by Party A as well as the relevant departments, with such renovation expenses to be borne by Party B. In case of early termination of contract by Party B or the expiry of contract, Party A shall not be charged of any renovation costs.

 

Except otherwise agreed, the fixed part of the newly decoration by Part B shall not be removed. For those removable parts such as the movable shelf board, furniture, etc., at the time of contract expiry or the early termination and after settling of all the fees payable by Party B, they can be removed by Party B.

 

Article 6 Sales during the Term of Lease 

 

	 	
6.1 
	
Where Party A transfers the Leased House to others during the term of lease, Party A shall notify Party B in writing two months in advance, and Party B shall have the priority to purchase the House. Such transfer shall not affect the effectiveness of the lease contract, that is, the master contract and the annexes thereto shall be valid continuously against Party B and the new house owner.

 

	 	
6.2 
	
Where Party A implements site-clearing by force, cancels the Contract unilaterally, or the new house owner refuses to continue fulfilling the master contract and the annexes thereto, Party A shall be required to return the guarantee deposit for lease in two-fold and compensate Party B for all fitting costs (subject to the invoice amount without depreciation) and the actual removal expenses. 

 

Article 7 Termination and Renewal

 

	 	
7.1 
	
Before the Contract expires, where Party B needs to continue leasing the House, Party B shall submit the renewal demand to Party A two months prior to the expiration date of the lease. Under the same conditions, Party B shall have the priority to lease the House;

 

	 	
7.2 
	
Party A shall go through formalities to sign a new House Lease Contract properly one month before the Contract expires. The rental shall be agreed by both parties based on the current market situation at that time. 

  

 

 

 

 

Annex of Shen (Luo) No. _________      _______ Contract

 

	 	
7.3
	
When the Contract expires or both parties agree to terminate the Contract ahead of time upon consensus, and Party B fully fulfills the terms and conditions as set out herein, Party A shall transfer the guarantee deposit for lease to the account designated by Party B in full without interest within three working days after Party B moves out and empties the leased House, pays off all payable costs and expenses, and has been confirmed by Party A; 

 

	 	
7.4
	
During the term of the Contract(From August 15, 2015 to October 31, 2018) , where either Party A or Party B needs to cancel or terminate the Contract ahead of time, Party A or Party B must notify the other party in writing six months in advance. Otherwise, neither Party A nor Party B shall have the right to cancel or terminate the Contract. Any party who proposes to cancel or to terminate the Contract shall pay the other party an amount equals to all rentals under the unfulfilled Contract as the liquidated damages. During the optional contract period (from November 1, 2018 to October 31, 2015) either Party A or Party B who proposes to terminate the Contract, should notify the other party in writing 6 months in advance, the notification will be effective upon receiving by the other party, the Lease Contract will be terminated when the notice period expired, there is no need for the party to pay the compensation to the other Party, both Parties shall settle their respective expenses according to the agreed Contract.

 

	 	
7.5
	
On the expiry of the lease term, where Party B wants to extend the lease, upon obtaining Party A’s consent, Party B may postpone moving out from the leased House. The postponing time shall be determined by Party A, and Party B shall be required to pay the rental and the management fee for the period.

 

Article 8 Breach of contract

 

	 	
1. 
	
Within the lease term, Party A shall ensure that Party B can make use of the property to conduct its normal business activities according to the lease agreement. In case there is interruption to the normal business activities of Party B caused by Party A or a third party related to Party A, Party A shall compensate Party B the double amount of lease deposit. During the period of interruption, Party B should not pay any rent. If Party B decides to unilaterally terminate the lease agreement due to the continued interruption, within 5 working days after the written termination notification sent by Party B to Party A, Party A should refund the double amount of deposit to Party B and at the same time pay Party B an amount equals to the rental of all the unfulfilled period of the lease as liquidated damages. 

 

	 	
2. 
	
If Party B cannot conduct the ordinary course of its business activities due to failure of the maintenance under Article 13 of the Main Contract or other causes, Party B shall not bear the rent for such period. In addition, if such above period exceeds more than 30 days, Party B shall have the right to terminate the agreement and request Party A to be liable to refund the double amount of lease deposit and other related cost or damages incurred by Party B. 

  

 

 

 

 

Annex of Shen (Luo) No. _________      _______ Contract

 

The Agreement shall be effective and executed immediately after both Party A and Party B sign and affix seal hereto. Any matters not mentioned herein shall be settled by both Party A and Party B upon consultation. 

 

Note: This property has been under mortgage in the Shenzhen Development Bank Co., Ltd. Shenzhen Branch since June 16, 2011. 

 

 

 

 

 

	
Party A (Signature / Stamp) 
	
Party B (Signature / Stamp): 

	
/s/ Chen Zhen Guang
	
/s/ Talon Zipper (Shenzhen) Co., Ltd.

	

	

	
Signing Date: August 10, 2015
	
Signing Date: August 10, 2015

     

 

 

 

 

Special Instructions

 

	
1.
	
Before signing the contract, both parties shall carefully read the contract, and the content of contractual terms can be negotiated for deletion or addition, selection, supplement, filling and alteration. After signing the contract, those contents that not having been modified (signed or stamped by both parties to confirm) are deemed as the agreed contents of the contract. As for the selection, supplement, filling and modification to the contents in the contract, those items in handwriting shall be the priority.

 

	
2.
	
Before signing the contract, the lessor shall present the lessee with the property right certificate or other proof of ownership, or other valid documents to prove identification or legal status of the lessor. Housing trustees also need to provide a power of attorney; for co-owning House to be leased, it is required to provide proof of all joint owners’ agreement to lease and the power of attorney; and the lessee shall prove to the lessor the identification of lessee or his qualification documents of legal status.

 

	
3.
	
The parties shall sign and perform the contract in accordance with law, and shall not violate the law with respect to procedural requirements or engage in illegal activities.

 

	
4.
	
Once executed, the contract will be legally binding on both parties, and the parties shall perform the obligations in accordance with the contract. Without statutory requirements or agreements by the parties the contract shall not be changed or cancelled.

 

	
5.
	
If any party write down the content under the contract on its own, such party shall fill in the content, shall use a brush, pen or sign pen with carbon ink or blue-black ink to write and sign for confirmation.

 

	
6.
	
Such blanks in partial terms under this contract (underlined) are for both parties to negotiate and make the engagement; in addition, some terms (marked with the sign-□) are for parties to choose.

 

	
7.
	
After signing the contract, the parties shall promptly and jointly go to the housing/leasing departments for registration or record.

 

	
8.
	
Both parties of the lease may decide the number of original copies of the contract according to the actual need and carefully check to ensure that all contract copies are consistent with each other; and in any case, each party shall hold at least one original contract.

 

	
9.
	
Any material change, termination as well as loss of the contract, the parties shall promptly go to the original registration institution for carrying out the relevant procedures.

 

	
10.
	
Both parties may, through consultation, agree how to dispose items in the rented property after the lease expiration or the termination of contract, and such matters can be prescribed in the supplementary pages (Annex).

 

	
11.
	
Under the Article 6 of the contract, for the "House to be leased Usage", it shall be filled in one of the following five categories: Commerce, Office, Plant, Warehouse, or Comprehensive.

  

 

 

 

 

Shenzhen rental safety management

 

 

 

 

 

 

 

 

 

Letters of Responsibility

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shenzhen City, integrated management of floating population and rental office printing 

 

 

 

 

 

To implement the Decision by Shenzhen Municipal People's Congress Standing Committee on Strengthening Security Responsibility of Rental Housing, further clarify the responsibility for housing rental security, and strengthen the management of leasing house safety, so as to protect people’s life and property, this Responsibility Document for Shenzhen Housing Lease Security Management is specifically formulated in accordance with relevant laws and regulations:

 

	
A. 
	
Within the municipal administration region, the lessor and the lessee of all production and business premises (including various types of commodity markets as well as their stalls the counters), office space, residential and other houses shall be responsible for the rental housing security.

 

	
B. 
	
When leasing a house, the lessor shall possess the proper ownership certificate or other proof documents required by the municipal government. In case of housing rental through the trustee, the owner shall enter into a written entrusting agreement with the agent, specifying the security responsibility by respective parties. The sub-lessor, other actual lessors or parties of renting acts shall undertake the safety obligations as the lessor.

 

	
C. 
	
The lessee shall secure that the rental building as well as its entrance and exit, corridors, firefighting equipment, gas and power facilities and so on are in consistent with the safety standards by the relevant laws, regulations and related administration department. In case of laws and regulations request the obtaining the relevant permits or approval documents for property lease, the lessor shall acquire such instruments accordingly.

 

	
D.
	
If the lessee uses the rental housing for production and business activities, before opening, the lessor shall require the lessee to go through relevant fire prevention procedures with proof as well as the industry and commerce business license or proof of provincial dollars to open a certificate.

 

	
E. 
	
The lessor shall at least once a quarter check on the safe use and the use natural of the leased house and keep the written record. If the lessor cannot complete the inspection himself due to impersonal cause, the lessor shall entrust others to conduct such inspections.

 

	
F. 
	
Upon finding out that there are security risks in the leased housing or the lessee changes the usage of property without authorization, the lessor shall inform the comprehensive management institution of the rental housing or other related administrative departments. 

 

	
G. 
	
The lessee shall abide by provisions of laws and regulations as well as the engagements of house rental agreements, making the rational and safe use of houses and not being allowed to change the property structure and usage; and once found the latent security risks in the leased house, the lessee shall promptly report to the comprehensive management institution of the rental housing or other related administrative departments.

 

	
H. 
	
The lessee shall not at will change the usage of the leased house, and the application of rented property for the engagement in hotel industry, food, entertainment, net bar or workshops and other commercial activities must comply with the relevant provisions:

  

 

 

 

 

It is prohibited to use the rental housing for gambling, drug abuse and trafficking, prostitution, pornography, documents forgery, printing illegal publications, manufacturing and selling of counterfeit and shoddy goods, harboring criminals, or hiding and sale of stolen goods and other criminal and offensive conducts;

 

It is prohibited to use the rental housing for pyramid selling or disguised pyramid, operating without a business license, unlicensed operation of clinics or illegal engagements in the practice of medicine and the recycling of renewable resources as well as other illegal activities;

 

It is prohibited to use the rental housing for the engagement in unlicensed employment intermediary operation, matchmaking, training, real estate agency or other fraudulent acts;

 

It is prohibited to use the leased residential property for production, storage, or operation of those flammable, explosive, toxic and radioactive items or other hazardous materials.

 

	
I. 
	
Both the lessor and the lessee shall assist and cooperate with the comprehensive management institution of the rental house to conduct safety check and administration, truthfully providing relevant materials and information.

 

	
J. 
	
Where either the lessor or the lessee does not fulfill its security responsibilities, thus resulting in other person suffer physical or property damages, the victim may request the lessor to bear the corresponding compensation liability by law.

 

 

 

 

 

	
Lessor(Signature / Stamp):
	
 
	
Lessee: (Signature / Stamp)
	
 

	/s/ Chen Zhen Guang	/s/ Talon Zipper (Shenzhen) Co., Ltd.
	Trustee and Manger(Signature / Stamp):	Phone:
	 	 
	Phone:	 
	 	 
	 	 
	 	 
	 	 

 

 

 

  

 

 

 

 

 

 

 

Date: 08/10/15EX-10.4

 Exhibit 10.4 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (the “Agreement”) is entered into as of this      day of
             and effective on the Effective Date, by and between IDI, Inc. f/k/a Tiger Media, Inc., a Delaware corporation (the “Company”), and
                     (the “Indemnitee”) and replaces any and all Indemnification Agreements previously entered into between the Parties:

 WHEREAS, competent and experienced persons are becoming increasingly reluctant to serve publicly-held corporations as directors,
officers, or in other capacities unless they are provided with adequate protection through liability insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to the corporation;

 WHEREAS, the board of directors of the Company (the “Board”) has determined that the inability to attract and retain such
persons is detrimental to the best interests of the Company’s shareholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; 

WHEREAS, Section 145 of the Delaware General Corporation Law (the “DGCL”) empowers the Company to indemnify its officers,
directors, employees and agents by agreement and to indemnify persons who serve, at the request of the Company, as directors, officers, employees or agents of other corporations or enterprises; 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify such persons to the fullest
extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; 

WHEREAS, the Indemnitee is willing to serve as a director or officer of the Company on the condition that he be so indemnified. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, the Company and the Indemnitee do hereby covenant
and agree as follows: 
 1. Definitions. For purposes of this Agreement: 

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

(b) “Beneficial Owner” means (as defined in Rule 13d-3 under the Act), any Person who directly or indirectly, owns securities of the
Company representing 10% or more of the combined voting power of the Company’s then outstanding securities. 
 (c) “Change of
Control” means a change in control of the Company occurring after the Effective Date of a nature that would be required to be reported in response to Item 5.01 on Form 8-K (or in response to any similar item on any similar schedule or
form) promulgated under 

 
the Act, whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change of Control shall be deemed to have
occurred after the Effective Date if (i) a Person (as defined below) becomes the Beneficial Owner without the prior approval of at least two-thirds of the directors in office immediately prior to such person attaining such percentage;
(ii) the Company is a party to a merger, consolidation, sale of assets or other reorganization, or a proxy contest, as a consequence of which members of the Board in office immediately prior to such transaction or event constitute less than a
majority of the Board thereafter; or (iii) during any period of two consecutive years, individuals who, at the beginning of such period, constituted the Board (including for this purpose, any new director whose election or nomination for
election by the Company’s shareholders was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at least a majority of the Board.

 (d) “Corporate Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the
Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which such person is or was serving at the request of the Company. 

(e) “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which
indemnification is sought by the Indemnitee. 
 (f) “Effective Date” means the earlier of (i) the date first above written or
(ii) the date the Indemnitee first became an officer and/or director of the Company, its predecessor, a Cayman Island corporation, or any subsidiary of the Company. 

(g) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness
fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, or being or preparing to be a witness in a Proceeding. 
 (h) “Independent Counsel” means a
law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent (i) the Company or the Indemnitee in any matter material to either such
party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee’s rights under this Agreement. 

(i) “Person” means (as such term is used in Sections 13(d) and 14(d) of the Act) an individual, a partnership, a corporation, a
limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, or a governmental entity (or any department, agency, or political subdivision thereof). 

  
 2 

 (j) “Proceeding” includes any actual or threatened action, suit, arbitration,
alternative dispute resolution mechanism, investigation, administrative hearing or any other proceeding whether civil, criminal, administrative or investigative, whether or not initiated prior to the Effective Date, except a proceeding initiated by
an Indemnitee pursuant to Section 11 of this Agreement to enforce his rights under this Agreement. 
 (k) “Standard” shall
mean the applicable standard of conduct set forth in Sections 145(a) and (b) of the DGCL. 
 2. Agreement to Serve. The
Indemnitee agrees to serve as a director or officer of the Company. The Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law). Similarly,
the Company shall have no obligation under this Agreement to continue the Indemnitee in any position with the Company. 
 3.
Indemnification — General. The Company shall indemnify and advance Expenses to the Indemnitee as provided in this Agreement and to the fullest extent permitted by applicable law in effect on the Effective Date and to such greater extent
as applicable law may thereafter from time to time permit. However, no indemnification shall be made by the Company (except as ordered by a court) unless a determination has been made in the manner provided for in Section 145(d) of the DGCL and
Section 9(b) herein that the Indemnitee has met the applicable Standard. The rights of the Indemnitee provided under the preceding sentence shall include, but shall not be limited to, the rights set forth in the other sections of this
Agreement. 
 4. Third Party Actions. The Indemnitee shall be entitled to the rights of indemnification provided in this
Section 4 if, by reason of his Corporate Status, he is, or is threatened to be made, a party to any Proceeding, other than a Proceeding by or in the right of the Company. Pursuant to this Section 4, the Indemnitee shall be indemnified
against Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such Proceeding or any claim, issue or matter therein, if (i) he acted in good faith, and in a manner he reasonably
believed to be in or not opposed to the Company’s best interests; and (ii) with respect to any criminal Proceeding, had no reasonable cause to believe his conduct was unlawful. The Indemnitee shall not be entitled to indemnification in
connection with any Proceeding charging improper personal benefit to the Indemnitee, whether or not involving action in his official capacity, in which he was judged liable on the basis that personal benefit was improperly received by him. 

5. Direct and Derivative Actions. The Indemnitee shall be entitled to the rights of indemnification provided in this Section 5, by
reason of his Corporate Status, if he is, or is threatened to be made, a party to any Proceeding brought by a shareholder directly or on behalf of the Company to procure a judgment in its favor. Pursuant to this Section, the Indemnitee shall be
indemnified against Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company.
Notwithstanding the foregoing, no indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which the Indemnitee shall have been adjudged to be liable to the Company unless

  
 3 

 
the Delaware Court of Chancery or the court in which such Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all of the
circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnification for such Expenses which the Delaware Court of Chancery or such other court shall deem proper. 

The Indemnitee shall not be entitled to the rights of indemnification provided in this Section 5, by reason of his Corporate Status, if
he is, or is threatened to be made, a party to any Proceeding brought by the Company, or files any claim against the Company in a Proceeding. 

6. Indemnification for Expenses of an Indemnitee. Notwithstanding any other provision of this Agreement, to the extent that the
Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he shall be indemnified against all Expenses actually and reasonably incurred by him in connection therewith. If the
Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify the Indemnitee against all Expenses
actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter. For purposes of this Section 6 and without limitation, the termination of any claim, issue or matter in such a
Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 
 7.
Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that the Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding, he shall be indemnified against all
Expenses actually and reasonably incurred by him or on his behalf in connection therewith. 
 8. Advancement of Expenses. The Company
may advance all reasonable Expenses incurred by or on behalf of the Indemnitee in connection with any Proceeding within 20 working days after the receipt by the Company of a statement or statements from the Indemnitee requesting such advance or
advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by the Indemnitee and shall include, be preceded by or accompanied by, as the
case may be, the following: (i) a written affirmation of the Indemnitee’s good-faith that he has met the Standard; (ii) an undertaking by or on behalf of the Indemnitee to repay any Expenses advanced if it shall be determined that the
Indemnitee did not meet the Standard or that the Indemnitee is not entitled to be indemnified against such Expenses; and (iii) a determination that the facts then known to those making the determination would not preclude indemnification under
the DGCL. 
 The Indemnitee understands and agrees that the undertaking required by this Section 8(ii) shall be an unlimited general
obligation of the Indemnitee. 
 9. Indemnification Procedure. 

(a) To obtain indemnification under this Agreement, the Indemnitee shall submit to the Company a written request, including therein or
therewith such documentation and information as is reasonably available to the Indemnitee and is reasonably necessary to determine 

  
 4 

 
whether and to what extent the Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board in
writing that the Indemnitee has requested indemnification. 
 (b) Upon written request by the Indemnitee for indemnification pursuant to
Section 9(a) hereof, a determination, if required by applicable law, with respect to the Indemnitee’s entitlement thereto shall be made (i) by the Board by a majority vote of a quorum consisting of Disinterested Directors; or
(ii) if a quorum cannot be obtained or, even if attainable, a quorum of Disinterested Directors so directs, by (a) Independent Counsel in a written opinion; or (b) by the shareholders of the Company. If it is determined that the
Indemnitee is entitled to indemnification, payment to the Indemnitee shall be made within 10 working days after such determination. The Indemnitee shall cooperate with the person, persons or entity making such determination with respect to the
Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is
reasonably available to the Indemnitee and reasonably necessary to such determination. 
 10. Presumptions and Effect of Certain
Proceedings. 
 (a) If a Change of Control shall have occurred, in making a determination with respect to entitlement to indemnification
hereunder, and following the procedures in Section 9, as applicable, it shall be presumed that the Indemnitee is entitled to indemnification under this Agreement if the Indemnitee has submitted a request for indemnification in accordance with
Section 9(a) of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. 

(b) If the Indemnitee’s right to indemnification shall not have been made within 60 days after receipt by the Company of the request
therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and the Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by the Indemnitee of a material fact, or an
omission of a material fact necessary to make the Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however,
that such 60-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time
for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing provisions of Section 10(b) shall not apply (i) if the determination of entitlement to indemnification is to be
made by the shareholders pursuant to Section 9(b) of this Agreement and if (A) within 15 days after receipt by the Company of the request for such determination the Board has resolved to submit such determination to the shareholders for
their consideration at an annual meeting thereof to be held within 75 days after such receipt and such determination is made thereat, or (B) a special meeting of shareholders is called within 15 days after such receipt for the purpose of making
such determination, such meeting is held for such purpose within 60 days after having been so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel
pursuant to Section 9(b) of this Agreement. 
 (c) The termination of any Proceeding or of any claim, issue or matter therein, by
judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of the Indemnitee to indemnification or
create a presumption that the Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding, that the Indemnitee had
reasonable cause to believe that his conduct was unlawful. 

  
 5 

 11. Remedies of the Indemnitee. 

(a) In the event that (i) a determination is made pursuant to Section 9 of this Agreement that the Indemnitee is not entitled to
indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 of this Agreement, (iii) the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to
Section 9(b) of this Agreement and such determination shall not have been made and delivered in a written opinion within 90 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made
pursuant to Section 5 of this Agreement within 10 days after receipt by the Company of a written request therefor, or (v) payment of indemnification is not made within 10 days after a determination has been made that the Indemnitee is
entitled to indemnification or such determination is deemed to have been made pursuant to Section 9 or 10 of this Agreement, the Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other
court of competent jurisdiction, of his entitlement to such indemnification or advancement of Expenses. The Indemnitee shall commence such proceeding seeking an adjudication within 180 days following the date on which the Indemnitee first has the
right to commence such proceeding pursuant to this Section 11(a). 
 (b) In the event that a determination shall have been made
pursuant to Section 9 of this Agreement that the Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to this Section 11 shall be conducted in all respects as a de novo trial on the merits and the
Indemnitee shall not be prejudiced by reason of that adverse determination. If a Change of Control shall have occurred, in any judicial proceeding commenced pursuant to this Section 11, the Company shall have the burden of proving the
Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be. 
 (c) If a determination shall have been made
or deemed to have been made pursuant to Section 9 or 10 of this Agreement that the Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this
Section 11, absent (i) a misstatement by the Indemnitee of a material fact, or an omission of a material fact necessary to make the Indemnitee’s statement not materially misleading, in connection with the request for indemnification,
or (ii) a prohibition of such indemnification under applicable law. 
 (d) The Company shall be precluded from asserting in any
judicial proceeding commenced pursuant to this Section 11 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of
this Agreement. 
 (e) In the event that the Indemnitee, pursuant to this Section 11, seeks a judicial adjudication to enforce his
rights under, or to recover damages for breach of, this Agreement, the Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company against, any and all Expenses (of the types described in the definition of
Expenses in Section 1 of this Agreement) actually and reasonably incurred by him in such judicial adjudication, but only if he prevails therein. If it shall be determined in said judicial adjudication that the Indemnitee is entitled to receive
part but not all of the indemnification or advancement of Expenses sought, the Expenses incurred by the Indemnitee in connection with such judicial adjudication shall be appropriately prorated. 

  
 6 

 12. Non-Exclusivity; Survival of Rights; Insurance; Subrogation. 

(a) The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any
other rights to which the Indemnitee may at any time be entitled under applicable law, the Articles of Incorporation, the Bylaws, any agreement, a vote of shareholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of
this Agreement or any provision hereof shall be effective as to any Indemnitee with respect to any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. 

(b) To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which such person serves at the request of the Company, the Indemnitee shall be covered by such policy or
policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, employee or agent under such policy or policies. 

(c) In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of
recovery of the Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 

(d) The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent
that the Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 
 (e) The
Company may, to the full extent authorized by law, create a trust fund, grant a security interest and/or use other means (including, without limitation, letters of credit, surety bonds and other similar arrangements) to ensure the payment of such
amounts as may become necessary to effect indemnification provided hereunder. 

  
 7 

 13. Duration of Agreement. This Agreement shall continue until and terminate upon the
later of: (a) six years after the date that the Indemnitee shall have ceased to serve as a director, officer, employee, agent or fiduciary of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or
other enterprise which the Indemnitee served at the request of the Company; or (b) the final termination of all pending Proceedings in respect of which the Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and
of any proceeding commenced by the Indemnitee pursuant to Section 11 of this Agreement relating thereto. 
 14. Exceptions to
Indemnification Rights. Notwithstanding any other provision of this Agreement, except for Indemnification or advancement of Expenses in a Proceeding to enforce or claim therein to enforce the provisions of that Agreement, the Indemnitee shall
not be entitled to Indemnification or advancement of Expenses with respect to any Proceeding, or any claim therein, brought or made by him against the Company. Provided further that no right of indemnification under the provisions set
forth herein shall be available to the Indemnitee unless within 10 days after the later of (i) the filing of or (ii) learning of any such Proceeding he shall have offered the Company in writing the opportunity to handle and defend such
Proceeding at its own expense. 
 15. Gender. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun
where appropriate. 
 16. Successors. Subject to the provisions of this Agreement, this Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective legal representatives, successors and assigns. 
 17. Severability. In the
event any parts of this Agreement are found to be void, the remaining provisions of this Agreement shall nevertheless be binding with the same effect as though the void parts were deleted. 

18. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of
which together shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature. 
 19.
Benefit. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their legal representatives, successors and assigns. 

20. Notices and Addresses. All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in
writing, and shall be sufficiently given if delivered to the addressee in person, by Federal Express or similar receipted delivery or by email followed by an overnight deliver service as follows: 

 

			
	The Company:	  	 Derek Dubner
 IDI, Inc.

2650 N. Military Trail, Suite 300
 Boca Raton, FL
33431

		
	with a copy to:	  	 Michael D. Harris, Esq.
 Nason, Yeager, Gerson,
White & Lioce, P.A.
 1645 Palm Beach Lakes Boulevard, Suite 1200

West Palm Beach, FL 33401

  
 8 

 To the Indemnitee: 

or to such other address as either of them, by notice to the other may designate from time to time. The transmission confirmation receipt from the
sender’s facsimile machine shall be evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery in person or by mailing. 

21. Attorneys’ Fees. In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the
interpretation, breach or enforcement thereof, and any action or proceeding relating to this Agreement is filed, the prevailing party shall be entitled to an award by the court of reasonable attorneys’ fees, costs and expenses. 

22. Oral Evidence. This Agreement constitutes the entire Agreement between the parties and supersedes all prior oral and written
agreements between the parties hereto with respect to the subject matter hereof. Neither this Agreement nor any provision hereof may be changed, waived, discharged or terminated orally, except by a statement in writing signed by the party or parties
against which enforcement or the change, waiver discharge or termination is sought. 
 23. Governing Law. This Agreement and any
dispute, disagreement, or issue of construction or interpretation arising hereunder whether relating to its execution, its validity, the obligations provided herein or performance shall be governed or interpreted according to the internal laws of
the State of Delaware without regard to choice of law considerations. 
 24. Arbitration. Any controversy, dispute or claim arising
out of or relating to this Agreement, or its interpretation, application, implementation, breach or enforcement which the parties are unable to resolve by mutual agreement, shall be settled by submission by either party of the controversy, claim or
dispute to binding arbitration in Palm Beach County, Florida (unless the parties agree in writing to a different location), before a single arbitrator in accordance with the rules of the American Arbitration Association then in effect. In any such
arbitration proceeding the parties agree to provide all discovery deemed necessary by the arbitrator. The decision and award made by the arbitrator shall be final, binding and conclusive on all parties hereto for all purposes, and judgment may be
entered thereon in any court having jurisdiction thereof. 
 25. Section or Paragraph Headings. Section headings herein have been
inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement. 

Signature Page Follows 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first
above written. 
  

									
		 		 		 	IDI, INC.:
				
	  
	 		 	By:	 	  

		 		 		 		 	Derek Dubner
		 		 		 		 	Co-Chief Executive Officer
	  
	 		 		 	
		 		 		 	INDEMNITEE:
				
	  
	 		 	By:	 	  

				
	  
	 		 		 	

  
 10

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