Document:

chke_Ex10_1

		
			Exhibit 10.1
		

		
			FIRST AMENDMENT TO PROMISSORY NOTE
		

		
			THIS FIRST AMENDMENT TO PROMISSORY NOTE, dated as of June 5, 2017 (the “First Amendment”), modifies and amends that certain Promissory Note, dated December 7, 2016 (the “Note”), executed by Irene Acquisition Company B.V., a company organized under the laws of the Netherlands (“Borrower”), payable to the order of Ravich Revocable Trust of 1989 (“Lender”) in the initial principal sum of up to Five Million Dollars ($5,000,000).  The executed original Note is attached hereto.  Terms used and not otherwise defined herein shall have the definitions given such terms in the Note.
		

		
			NOW, THEREFORE, Borrower and Lender hereby agree as follows:
		

		
			1.         The current principal amount outstanding under the Loan as of the date hereof is One Million Five Hundred Thousand Dollars ($1,500,000). The total amount of accrued and unpaid interest as of the date hereof is Fourteen Thousand Six Hundred Forty-Five Dollars and Eighty-Four Cents ($14,645.84).  The total amount outstanding under the Note as of the date hereof is One Million Five Hundred Fourteen Thousand Six Hundred Forty-Five Dollars and Eighty-Four Cents ($1,514,645.84) (the “June 2017 Outstanding Amount”). 
		

		
			2.         The June 2017 Outstanding Amount shall bear interest at a fixed per annum rate equal to 9.50% from the date hereof, and to accomplish such change, Section II.1 of the Note is hereby amended and restated in its entirety as follows:
		

		
			“The principal amount outstanding under the Loan advanced under this Note will bear interest at a fixed per annum rate equal to 9.50%, which interest shall accrue on the Loan commencing on, and including, the date hereof until the outstanding principal amount thereof, together with all accrued and unpaid interest thereon, shall be paid in full in cash in the manner specified in this Note; provided,  however, any principal amount and any accrued and unpaid interest still outstanding on the Maturity Date (the “June 2017 Outstanding Amount”) shall bear interest at a fixed per annum rate equal to 9.50%, which interest shall accrue on the June 2017 Outstanding Amount commencing on the date after the Maturity Date until the date on which the June 2017 Outstanding Amount, together with all accrued and unpaid interest thereon, has been paid in full in cash in the manner specified in this Note. The June 2017 Outstanding Amount, together with all accrued and unpaid interest thereon, shall be paid in full in cash on or before the New Maturity Date.”
		

		
			3.         The following definitions shall be added to Section VI of the Note in the correct alphabetical order:
		

		
			a.   “June 2017 Outstanding Amount” means One Million Five Hundred Fourteen Thousand Six Hundred Forty-Five Dollars and Eighty-Four Cents ($1,514,645.84).
		

		
			b.   “New Maturity Date” means July 31, 2017.
		

		
			
		

		
			

		 

 

		

		
			4.         As amended hereby, the Note remains in full force and effect and Borrower hereby ratifies, reaffirms and confirms all of the terms and conditions of the Note and all other documents and instruments executed in connection therewith (the “Loan Documents”) in all respects, and hereby acknowledges that the Loan Documents are valid and enforceable obligations against Borrower, due and payable in full, without defenses, setoffs or counterclaims of any kind.  The indebtedness evidenced by the Loan Documents is hereby acknowledged and admitted.
		

		
			 
		

		
			 
		

		
			[signature pages follow]
		

		
			
		

		
			

		 

 

		

		
			IN WITNESS WHEREOF, the parties hereto have executed this First Amendment, and it is effective as of the date first written above.
		

		
			 
		

		
			 
		

			
					
						/

					
					
						 

					
					
						 

				
	
					
						Irene Acquisition Company B.V.,

					
					
						 

				
	
					
						as Borrower

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Henry Stupp

					
					
						 

				
	
					
						Name:

					
					
						 Henry Stupp

					
					
						 

				
	
					
						Title:

					
					
						 Director A

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Edward Van Wezel

					
					
						 

				
	
					
						Name:

					
					
						 Edward Van Wezel

					
					
						 

				
	
					
						Title:   

					
					
						 Director B

					
					
						 

				

		
			 
		

		
			
		

		

		 

 

	
					
						

					
						/

					
					
						 

					
					
						 

				
	
					
						Ravich Revocable Trust of 1989,

					
					
						 

				
	
					
						as Lender

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Jess M. Ravich

					
					
						 

				
	
					
						Name:

					
					
						 Jess M. Ravich

					
					
						 

				
	
					
						Title:

					
					
						 TrusteeExhibit 10.1

 

Shareholder Investment
Agreement

 

Article
1: Joint Investors

 

Party A: Hedetang Foods (China) Co., Ltd.

 

Legal representative: Zhu Fei

 

Party B: Shaanxi Yinlian Huijin Investment
Management Co., Ltd.

 

Legal representative: Xu Hongli

 

Article 2: Background of Investment
Cooperation

 

2.1. Principles of Cooperation:
Party A and Party B shall sign this agreement based on the principles of voluntariness, equality, justice, integrity and good faith;
Shareholders shall fully negotiate with each other, be diligent, bring their superiority into full play, and provide ideas to accelerate
the development of the company; Shareholders shall negotiate immediately once any problem occurs, and strive based on the principles
of seeking common ground while reserving differences and in the interest of the company to takeg precedence over the individual
interest, so as to develop the company.

 

2.2 Objects of Cooperation: Party
A, Hedetang Foods (China) Co., Ltd. and Party B, Shaanxi Yinlian Huijin Investment Management Co., Ltd. will jointly establish
Zhonglian Hengxin Assets Management Co., Ltd. (Hereinafter referred to as Zhonglian Hengxin).

 

2.3 Areas of Cooperation: Zhonglian
Hengxin established by Party A and Party B mainly shall engage the businesses of acquisition and disposition of non-performing
assets, enterprise reorganization by merger and acquisition, credit and debt liquidation, management of private equity investment
fund by entrustment, private placements and investment management.

 

Article 3: Forms of Contribution, Shareholding
Percentages, Profits and Losses

 

The registered capital of Zhonglian Hengxin
is RMB100,000,000.00 (RMB ONE HUNDRED MILLION YUAN), among which, Party A holds 55% of the registered capital (shares) and Party
B holds 45% of the registered capital(shares).

 

Party A shall advance the initial expenses
including office decoration, office furniture, personnel recruitment and training, corporate image design, and business development
after Zhonglian Henxin is established. All the expenses mentioned above shall be regarded as Zhonglian Hengxin’s debts to
party A and shall be paid back to Party A after Zhonglian Hengxin starts its normal operation.

 

Each shareholder shall receive its dividends
and other profit distribution and assume investment risks based upon the percentage of its shareholding.

 

     

     

    

 

Article 4: Rights
and Obligations 

 

4.1. Shareholders Meeting: The
shareholders of Zhonglian Henxin will be composed of Party A and Party B, and the shareholders meeting has the highest authority.
The shareholders resolutions shall be passed by the approval of the shareholders representing over half of the voting power of
the Company. The major matters of amendment to the Articles of Association, increase or decrease of registered capital, merger,
division, change the form of the Company, the addition of any new shareholders shall be passed by approval of shareholders representing
more than two-thirds of the voting power of the Company. The shareholders’ meeting shall be held once a year. According to
the actual situation, Party A or Party B may propose to hold a special shareholders meeting. The shareholders’ meeting shall
be convened by the board of directors and shall be presided by the chairman of the board of directors. If the chairman of the board
of directors is unable to perform his/her duties for any particular reason, another director elected by more than half of the directors
shall preside the meeting. The shareholders meeting shall:(1) decide the Company’s operation policies and investment plans;
(2) review and approve the annual financial budget and final accounts of the Company; (3) appoint and dismiss directors and supervisors;
(4) review and approve the profit distribution and loss make-up plan of the Company; (5) be responsible for the other matters stipulated
in the articles of association of the Company.

 

4.2. Board of Directors: Zhonglian Henxin
shall set up a board of directors, which is the Company’s decision-making body and responsible to the shareholders. The board
of directors consists of five directors, of which Party A appoints three directors and Party B appoints two directors. The chairman
of the board shall be elected by the board of directors. The resolutions of the board of directors shall be approved by over half
of the directors and each director has one vote. The board meeting shall be convened and presided over by the chairman of the board
of directors. When the chairman of the board of directors is unable to perform his/her duties for any particular reasons, another
director recommended by over half of the board members shall convene and preside the meeting. The board of directors is mainly
responsible for the following duties: (1) to report to the shareholders and convene the shareholders’ meeting and to implement
the resolution of the shareholders’ meeting; (2) to decide on the major business projects and foreign investment programs
of the Company; (3) to decide on the establishment of the internal management structures and departments and the principal management
policies; (4) the duties of the board of directors stipulated in the articles of association of the Company.

 

4.3 General Manager:
Zhonglian Henxin shall have a general manager, who is responsible to the board of directors. Before the new shareholder is
added, the general manager shall be appointed by the board of directors or appointed by Party B. The duties of the general manager
include: (1) in charge of the operation and management of the Company; (2) in charge of establishment of business, products development,
and business development of the Company; (3) decision-making of issues in his/her duties and authorities stipulated in the rules
and regulations of the Company; (4) drafting strategic development plan and corporate rules and regulations and reporting them
to the board of directors for approval; and (5) other powers and duties granted by the board of directors.

 

    	 	2	 

     

    

 

4.4 Supervisor:
Zhonglian Henxin will not have a board of supervisors but a sole supervisor. The duty of the supervisor includes: (1) supervising
and inspecting the finance of the Company; (2) supervising the behavior of directors, general managers and other executive officers
as whether they violate laws, regulations or Articles of Association while fulfilling their duties, and suggesting a dismissal
of them to the shareholders meeting; (3) requiring the directors, general manager and other executive officers to correct any conduct
that damages the interest of the Company and make suggestions to the shareholders meeting to dismiss such person that refuses to
correct after warning ; (4) proposing a special shareholders’ meeting; and (5) other duties stipulated in the Company’s
Articles of Association.

 

Article 5: Equity Transfer, Withdrawal,
Increase of Capital, Addition of New Shareholders

 

5.1. Transfer:
The shareholders of Zhonglian Henxin shall not transfer their shares and capital contribution within 24 months after the Company
is established. After 24 months, the shareholders can transfer all or part of their capital contribution among themselves. Any
transfer of capital stock to a third party must be approved by the majority of shareholders and the shareholders who represent
more than half the voting power of the Company. The shareholder who doesn’t approve the transfer should purchase the capital
stock proposed to be offered in such transfer for a purchase price referring to the selling shareholder’s capital contributions
in relation to the number of such shares. If the shareholder does not purchase such shares, it shall be deemed to be an approval
by such shareholder of the transfer. For any approved transfer of capital stock, under the same conditions, the other shareholder
has the right of first refusal for such offered capital stock.

 

5.2 Withdrawal: The shareholders shall
not transfer their shares and capital contribution within 24 months after they became the shareholders of Zhonglian Henxin. After
24 months, the shareholders could withdraw all or part of their capital contribution but must do so in accordance with legal procedures.
When a shareholder withdraws from the Company, it will receive 50% of the undistributed profits which should have distributed to
it based upon its ownership of the Company. Capital contribution paid by such shareholder should be returned to it as its initial
contribution amount.

 

5.3. Increase of Capital Increase: The
Company may increase its registered capital at any time with the business development. If capital increase is needed, all shareholders
shall contribute the additional capital according to their share percentage of the Company.

 

5.4 Addition of New Shareholders: In
order to achieve the Company’s development strategy, if necessary, strategic partners can be added with the consent of shareholders
representing over two thirds of the voting power of the Company. The introduction of new shareholders must be done by the following
principles: (1) regardless of the amount of the capital contribution by the new shareholder, the proportion of their shares of
the Company cannot exceed 50%, unless the Company becomes a public company; (2) all the new shareholders shall operate legally
and should be beneficial to the Company.

 

    	 	3	 

     

    

 

Article 6: Financial
and Accounting Rules, Profit Distribution and Audit

 

6.1. Company Expenses: The expenses
of Zhonglian Henxin from the date of incorporation to date of operation which is about 10 months shall be advanced by Party A.
The expenses after the Company is in normal operation or gets profits shall be dealt according to the Company’s financial
policies. With respect the expenses advanced by Party A, Zhonglian Henxin shall sign a written agreement with Party A confirming
the amount and the repayment method after Zhonglian Henxin is established.

 

6.2. Reimbursement: The Company shall
adhere to the principles of openness, fairness, frugality, balance of revenue and expenditure, and establishes a scientific and
effective approval system to avoid major financial risks. The valid signatory shall be authorized by the board of directors. Any
single reimbursement fee under RMB 20,000 Yuan shall be approved by the general manager. Any single reimbursement fee between RMB
20,000 and 50,000 Yuan shall be verified by the general manager and approved by the chairman of the board of directors. Any single
fee more than RMB 50,000 Yuan shall be approved by the board of directors. Company expenses shall be audited every year, and the
profits can’t be distributed until the audit is passed. With the business development, introduction of senior management,
formulation of authorization system and other factors in a year, financial reimbursement policies and approval policies shall be
adopted separately.

 

6.3. Profit distribution: The Company
shall pay 20% of its net profit as the dividends to the shareholders in the first year. In the future, dividends shall be approved
by the shareholders’ meeting according to the net profit. But the maximum dividends shall not be over 50%. The remaining
profits are retained as the capital reserve or reinvestment fund.

 

6.4 Audit:
The Company shall be audited once a year and the audit results shall be reported to all shareholders. The audit includes finance,
internal process, risk management system, personnel ethics and so on. The profits can’t be distributed until the audit is
passed.

 

Article 7: Human Resources and Benefits

 

7.1. Employment
and Dismissal: The employees of Zhonglian Henxin shall be hired and dismissed in accordance with the company’s recruitment
procedures and standards approved by the board of directors. Any shareholder has no right to promise and decide to hire anyone
that is not beneficial to the Company development. The senior management above vice-president shall be hired and dismissed by the
board of directors. The employees below the middle level management shall be hired and dismissed by the general manager.

 

7.2. Benefits: Since the Company is
newly established, benefits standards shall be made in an economical, effective, cost-cutting way. Salary includes basic salary,
performance pay, subsidy and commission. This shall be implemented in accordance with the Company’s compensation policies.
The salary of executives shall be determined by the board of directors, and the salary of middle level management and employees
shall be determined by the general manager. Performance pay, subsidy and commission shall be paid according to the annual, quarterly,
monthly based upon the amount of the work completed. The specific salary and reward and punishment policies shall be prepared
by the general manager and be reported to the board of directors for approval and studied by the employees before they are implemented.

 

    	 	4	 

     

    

 

Article
8: Risk Control 

 

8.1. Investment risks: The shareholders
of the Company should be honest, upright, self-disciplined and noble. The Company shall establish a scientific, impartial and efficient
risk control mechanism on the specific investment projects and adopt “The Measures of Corporate Risk Control & Management’.
At the beginning of the Company, when the senior executives are not in place, the shareholders of the Company shall decide them
through discussion. Meanwhile, the Company shall avoid government policy risks, financial risks, legal risk and etc.

 

8.2. Financial
Management: The Company shall manage the investments funds strictly and avoid major financial risks. The fund accounts shall
be under effective supervision through approval and supervision methods. More details are covered in “Corporate Fund Management
Policy”. The valid signatory of reimbursement shall be decided by the shareholders meeting. The Company shall adopt “Corporate
Financial Management Measures” and “Corporate Financial Reimbursement Policy”, which shall be abided by shareholders,
directors, executives and all employees.

 

8.3. Legal risks: Illegal
fund-raising is prohibited. The Company shall operate legally.

 

Article 9: The Management and Use of
Company Seals

 

9.1. The Company’s
seals mainly include the Company seal, special financial seal, special contract seal, legal representative seal, director seal,
cash receipt seal and others. All the seals shall be carved with the approval of Public Security Agency and shall be carved in
the places approved by the Public Security Agency. The seals shall not be used until the samples are filed with the Public Security
Agency.

 

9.2. Bank reserved seals include
the Company seal, special financial seal and legal representative seal.

 

9.3 The seals shall be kept by designated
person. The seals shall be controlled and used by following the examination, approval and registration procedures. Specific “Measures
for Company Seals” shall be adopted separately to regulate the use of Company seals.

 

Article 10: Supplement and Breach

 

10.1Any
matters not covered in this Agreement can be settled in a supplementary agreement after negotiation and agreed by both parties.
Any modification shall be made and signed by the both parties in writing. This Agreement is executed in four originals. This Agreement
shall take effect on the date when it is signed by the legal representatives of both parties.

 

10.2 Either
party who fails to perform or fails to fully perform the provisions of this Agreement shall be considered as a breach of agreement,
and the breaching party shall compensate the other shareholders and the Company all the economic losses caused by the breach.

 

    	 	5	 

     

    

 

10.3 Any
dispute arising during the cooperation shall be settled through friendly consultation among all the shareholders. If no agreement
can be reached, the dispute should be submitted to the People’s Court, where Party A is located, for settlement.

 

10.4. This agreement covers the
cooperation between Party A and Party B of their joint investment of Zhonglian Hengxin Assets Management Co., Ltd. If there is
any conflict between Articles of Association of the Company and this Agreement, the Articles of Association shall prevail.

 

Party A (Signature and Seal): Hedetang Foods
(China) Co. Ltd. 

 

Legal Representative: /s/ Zhu Fei                  

 

 

Party B (Signature and Seal): Shaanxi Yinlian
Huijin Investment Management Co. Ltd.

 

Legal Representative: /s/ Xu Hongli            

 

 

Date: September 6, 2017

 

 

6

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