Document:

Exhibit 10.2

 

 

AMENDED & RESTATED

LIMITED LIABILITY COMPANY OPERATING AGREEMENT

 

among

 

GLOBAL SOCIAL MEDIA LLC

 

and

 

THE MEMBERS NAMED HEREIN

dated as of

 

February 10, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	 	 

     

    

 

TABLE OF CONTENTS

 

	ARTICLE I Definitions	1
	ARTICLE II Organization	11
	ARTICLE III Capital Contributions; Capital Accounts	12
	ARTICLE IV Members	15
	ARTICLE V Allocations	18
	ARTICLE VI Distributions	20
	ARTICLE VII Management	22
	ARTICLE VIII Transfers	23
	ARTICLE IX Indemnification	25
	ARTICLE X Accounting: Tax Matters	28
	ARTICLE XI Dissolution and Liquidation	31
	ARTICLE XII Miscellaneous	33

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	i	 

     

    

 

AMENDED & RESTATED

LIMITED LIABILITY COMPANY OPERATING AGREEMENT

 

This Amended & Restated Limited Liability
Operating Agreement (“Agreement”) of Global Social Media LLC (fka Global Social Marketing LLC), a Nevada
limited liability company (the “Company”), is entered into as of February 10, 2022 (the “Effective Date”)
by and among the Company, iPower Inc., a Nevada corporation (“IPW”), Bro Angel LLC, a Nevada limited
liability company (“Bro Angel”), and each other Person who after the date hereof becomes a Member of the Company and
becomes a party to this Agreement by executing a Joinder Agreement, a form of which is attached hereto as Schedule B.

 

RECITALS

 

WHEREAS, the Company
was formed as a limited liability company under the laws of the State of Nevada, for the purposes set forth in Section 2.05
of this Agreement, when the Company’s articles of organization (as amended from time to time, the “Articles of Organization”)
were filed by the Nevada Secretary of State on January 25, 2022, as amended to change the name of the Company from “Global Social
Marketing LLC” to “Global Social Media LLC” on January 28, 2022;

 

WHEREAS, the Company,
IPW, and Bro Angel previously entered into that certain Operating Agreement (the “Original Agreement”), effective as
of January 25, 2022, and now desire to amend and restate the Original Agreement in its entirety;

 

WHEREAS, the Company
and the Initial Members entered into a joint venture agreement, dated of even date herewith (the “Joint Venture Agreement”);

 

WHEREAS, the Company
and IPW entered into Occupancy Management agreement, dated of even date herewith and in the form of Exhibit B annexed to the Joint
Venture Agreement (the “Occupancy Management Agreement”);

 

WHEREAS, the Company
and Bro Angel entered into an intellectual property license agreement, dated of even date herewith and in the form of Exhibit C
annexed to the Joint Venture Agreement (the “Bro Angel License Agreement”); and

 

WHEREAS, the parties
wish to enter into this Agreement setting forth the terms and conditions governing the operation and management of the Company and the
other matters set forth herein.

 

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

 

ARTICLE I

Definitions

 

Section 1.01      
Definitions. Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in this Section
1.01 and when not otherwise defined shall have the meanings set forth in NRS:

 

“Additional Capital
Contribution” has the meaning set forth in Section 3.02.

 

 

 

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“Adjusted Capital
Account Deficit” means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of
the end of the relevant Fiscal Year, after giving effect to the following adjustments:

 

		(a)	crediting to such Capital Account any amount that such Member is obligated to restore or is deemed to
be obligated to restore under Treasury Regulations Sections 1.704-1(b)(2)(ii)(c), 1.704-2(g)(1), and 1.704-2(i); and

 

		(b)	debiting to such Capital Account the items described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4)-(6).

 

“Adjusted Taxable
Income” of a Member for a Fiscal Year (or portion thereof) with respect to the Membership Interest held by such Member means
the federal taxable income allocated by the Company to the Member with respect to its Membership Interest (as adjusted by any final determination
in connection with any tax audit or other proceeding) for such Fiscal Year (or portion thereof); provided, that such taxable income shall
be computed (a) minus any excess taxable loss or excess taxable credits of the Company for any prior period allocable to such Member with
respect to its Membership Interest that were not previously taken into account for purposes of determining such Member's Adjusted Taxable
Income in a prior Fiscal Year to the extent such loss or credit would be available under the Code to offset income of the Member (or,
as appropriate, the direct or indirect owners of the Member) determined as if the income, loss, and credits from the Company were the
only income, loss, and credits of the Member (or, as appropriate, the direct or indirect owners of the Member) in such Fiscal Year and
all prior Fiscal Years, and (b) taking into account any special basis adjustment with respect to such Member resulting from an election
by the Company under Code Section 754.

 

“Affiliate”
means, with respect to any Person, any other Person who, directly or indirectly (including through one or more intermediaries), controls,
is controlled by, or is under common control with, such Person. For purposes of this definition, "control," when used with respect
to any specified Person, shall mean the power, direct or indirect, to direct or cause the direction of the management and policies of
such Person, whether through ownership of voting securities or partnership or other ownership interests, by contract or otherwise; and
the terms "controlling" and "controlled" shall have correlative meanings.

 

“Agreement”
means this Limited Liability Company Operating Agreement, as executed and as it may be amended, modified, supplemented, or restated from
time to time, as provided herein.

 

“Applicable Law”
means all applicable provisions of (a) constitutions, treaties, statutes, laws (including the common law), rules, regulations, decrees,
ordinances, codes, proclamations, declarations, or orders of any Governmental Authority, (b) any consents or approvals of any Governmental
Authority, and (c) any orders, decisions, advisory or interpretative opinions, injunctions, judgments, awards, decrees of, or agreements
with, any Governmental Authority.

 

“Articles of Organization”
has the meaning set forth in the Recitals.

 

 

 

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“Book Depreciation”
means, with respect to any Company asset for each Fiscal Year, the Company's depreciation, amortization, or other cost recovery deductions
determined for federal income tax purposes, except that if the Book Value of an asset differs from its adjusted tax basis at the beginning
of such Fiscal Year, Book Depreciation shall be an amount which bears the same ratio to such beginning Book Value as the federal income
tax depreciation, amortization, or other cost recovery deduction for such Fiscal Year bears to such beginning adjusted tax basis; provided,
that if the adjusted basis for federal income tax purposes of an asset at the beginning of such Fiscal Year is zero and the Book Value
of the asset is positive, Book Depreciation shall be determined with reference to such beginning Book Value using any permitted method
selected by the Members in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(g)(3).

 

“Book Value”
means, with respect to any Company asset, the adjusted basis of such asset for federal income tax purposes, except as follows:

 

		(c)	the initial Book Value of any Company asset contributed by a Member to the Company shall be the gross
Fair Market Value of such Company asset as of the date of such contribution;

 

		(d)	immediately before the distribution by the Company of any Company asset to a Member, the Book Value of
such asset shall be adjusted to its gross Fair Market Value as of the date of such distribution;

 

		(e)	the Book Value of all Company assets may, in the sole discretion of the Members, be adjusted to equal
their respective gross Fair Market Values, as reasonably determined by the Members, as of the following times:

 

		(i)	the acquisition of an additional Membership Interest in the Company by a new or existing Member in consideration
for more than a de minimis Capital Contribution;

 

		(ii)	the distribution by the Company to a Member of more than a de minimis amount of property (other than cash)
as consideration for all or a part of such Member's Membership Interest in the Company; and

 

		(iii)	the liquidation of the Company within the meaning of Treasury Regulations Section 1.704-1(b)(2)(ii)(g);

 

		(f)	the Book Value of each Company asset shall be increased or decreased, as the case may be, to reflect any
adjustments to the adjusted tax basis of such Company asset pursuant to Code Section 734(b) or Code Section 743(b), but only to the extent
that such adjustments are taken into account in determining Capital Account balances pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m);
provided, that Book Values shall not be adjusted pursuant to this paragraph (d) to the extent that an adjustment pursuant to paragraph
(c) above is made in conjunction with a transaction that would otherwise result in an adjustment pursuant to this paragraph (d); and

 

 

 

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		(g)	if the Book Value of a Company asset has been determined pursuant to paragraph (a) or adjusted pursuant
to paragraphs (c) or (d) above, such Book Value shall thereafter be adjusted to reflect the Book Depreciation taken into account with
respect to such Company asset for purposes of computing Net Income and Net Losses.

 

“Bro Angel License
Agreement” has the meaning set forth in the Recitals.

 

“Business Day”
means a day other than a Saturday, Sunday, or other day on which commercial banks in the state of Nevada are authorized or required to
close.

 

“Capital Account”
has the meaning set forth in Section 3.03.

 

“Capital Contribution”
means any Member's contribution to the capital of the Company in cash and cash equivalents and the Book Value of any property contributed
to the Company by such Member.

 

“Change of Control”
means (a) the sale of all or substantially all of the assets of the Company to an Independent Third Party, (b) a sale resulting in more
than 50% of the Membership Interests of the Company being held by an Independent Third Party, or (c) a merger, consolidation, recapitalization,
or reorganization of the Company with or into an Independent Third Party that results in the inability of the Members to designate or
elect a majority of the managers (or the board of directors (or its equivalent) of the resulting entity or its parent company).

 

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

 

“Company”
has the meaning set forth in the Preamble.

 

“Company Business”
shall have the meaning as that term is defined in Section 2.05.

 

“Company Minimum
Gain” means “partnership minimum gain” as defined in Treasury Regulations Section 1.704-2(b)(2), substituting the
term “Company” for the term "partnership" as the context requires.

 

“Company Operating
Agreement” means this Agreement, as the same may hereafter be amended or restated.

 

“Confidential Information”
has the meaning set forth in Section 12.03(a).

 

“Covered Person”
has the meaning set forth in Section 9.01(a).

 

“Divorce”
means any legal proceeding to terminate, dissolve, or separate the Marital Relationship of a Member, and includes an action for annulment,
legal separation, or similar proceeding that involves a judicial division of community or quasi-community property of the Member and the
Member's Spouse.

 

 

 

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“Economic Interest”
shall have the meaning as that term is defined in Section 2.07.

 

“Electronic Transmission”
means (a) facsimile telecommunication, (b) email, (c) posting on an electronic message board or network that the Company has designated
for communications (together with a separate notice to the recipient of the posting when the transmission is given by the Company), or
(d) other means of electronic communication where the recipient has consented to the use of the means of transmission (or, if the transmission
is to the Company, the Company has placed in effect reasonable measures to verify that the sender is the member or manager purporting
to send the transmission) and the communication creates a record that is capable of retention, retrieval, and review and may be rendered
into clearly legible tangible form.

 

“Equity Securities”
means any and all Membership Interests of the Company and any securities of the Company convertible into, or exchangeable or exercisable
for, such Membership Interests, and warrants or other rights to acquire such Membership Interests.

 

“Estimated Tax Amount”
of a Member for a Fiscal Year means the Member's Tax Amount for such Fiscal Year as estimated in good faith from time to time by the Members.
In making such estimate, the Members shall take into account amounts shown on Internal Revenue Service Form 1065 filed by the Company
and similar state or local forms filed by the Company for the preceding taxable year and such other adjustments as the Members reasonably
determines are necessary or appropriate to reflect the estimated operations of the Company for the Fiscal Year.

 

“Excess Amount”
has the meaning set forth in Section 6.02(c).

 

“Fair Market Value”
of any asset as of any date means the purchase price that a willing buyer having all relevant knowledge would pay a willing seller for
such asset in an arm's length transaction, as determined in good faith by the Members on such factors as the Members, in the exercise
of its reasonable business judgment, considers relevant.

 

“Family Members”
has the meaning set forth in Section 8.02(b).

 

“Fiscal Year”
means the calendar year, unless the Company is required to or elects to have a taxable year other than the calendar year, in which case
Fiscal Year shall be the period that conforms to its taxable year.

 

“GAAP”
means the United States’ Generally Accepted Accounting Principles in effect from time to time.

 

 

 

    	 	5	 

     

    

 

“Governmental Authority”
means any federal, state, local, or foreign government or political subdivision thereof, or any agency or instrumentality of such government
or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental authority
(to the extent that the rules, regulations, or orders of such organization or authority have the force of law), or any arbitrator, court,
or tribunal of competent jurisdiction.

 

“Independent Third
Party” means, with respect to any Member, any Person who is not an Affiliate or other Permitted Transferee of such Member.

 

“Initial Member(s)”
means the individual and collective reference to IPW and Bro Angel, who are set forth in the Preamble to this Agreement and listed
on Schedule A annexed hereto.

 

“Joinder Agreement”
means the joinder agreement in form and substance attached hereto as Schedule B.

 

“Lien”
means any mortgage, pledge, security interest, option, right of first offer, encumbrance, or other restriction or limitation of any nature
whatsoever.

 

“Liquidator”
has the meaning set forth in Section 11.03(a).

 

“Losses”
has the meaning set forth in Section 9.01(b).

 

“Major Decisions”
shall have the meaning set forth in Section 7.02.

 

“Marital Relationship”
means a civil union, registered domestic partnership, marriage, or any other similar relationship that is legally recognized in any jurisdiction.

 

“Majority Member(s)”
means, at any point in time, that Member or those Members holding a minimum of fifty-one percent (51%) of the outstanding Units in the
Company.

 

“Member”
means (a) each of IPW and Bro Angel identified on the Members Schedule as of the date hereof as a Member and who has executed this Agreement
or a counterpart thereof (each, an “Initial Member”), and (b) each Person who is hereafter admitted as a Member in
accordance with the terms of this Agreement and NRS, in each case so long as such Person is shown on the Company's books and records as
the owner of Membership Interests. The Members shall constitute "members" (as that term is defined in NRS) of the Company.

 

“Member Nonrecourse
Debt” means "partner nonrecourse debt" as defined in Treasury Regulations Section 1.704-2(b)(4), substituting the
term "Company" for the term "partnership" and the term "Member" for the term "partner" as the
context requires.

 

“Member Nonrecourse
Debt Minimum Gain” means an amount, with respect to each Member Nonrecourse Debt, equal to the Company Minimum Gain that would
result if the Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Treasury Regulations Section
1.704-2(i)(3).

 

 

 

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“Member Nonrecourse
Deduction” means "partner nonrecourse deduction" as defined in Treasury Regulations Section 1.704-2(i), substituting
the term "Member" for the term "partner" as the context requires.

 

“Members Schedule”
has the meaning set forth in Section 3.01.

 

“Membership Interest”
means an interest in the Company owned by a Member, including such Member's right (a) to its distributive share of Net Income, Net Losses,
and other items of income, gain, loss, and deduction of the Company, (b) to its distributive share of the assets of the Company, (c) to
vote on, consent to, or otherwise participate in any decision of the Members as provided in this Agreement or NRS, and (d) to any and
all other benefits to which such Member may be entitled as provided in this Agreement or NRS. The Membership Interest of each Member shall
be expressed both in Units and as a percentage interest and shall be as set forth in the Members Schedule.

 

“Net Income”
and “Net Loss” mean, for each Fiscal Year or other period specified in this Agreement, an amount equal to the Company's
taxable income or taxable loss, or particular items thereof, determined in accordance with Code Section 703(a) (where, for this purpose,
all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in
taxable income or taxable loss), but with the following adjustments:

 

(a)              
any income realized by the Company that is exempt from federal income taxation, as described in Code Section 705(a)(1)(B), shall
be added to such taxable income or taxable loss, notwithstanding that such income is not includable in gross income;

 

(b)              
any expenditures of the Company described in Code Section 705(a)(2)(B), including any items treated under Treasury Regulations
Section 1.704-1(b)(2)(iv)(I) as items described in Code Section 705(a)(2)(B), shall be subtracted from such taxable income or taxable
loss, notwithstanding that such expenditures are not deductible for federal income tax purposes;

 

(c)              
any gain or loss resulting from any disposition of Company property with respect to which gain or loss is recognized for federal
income tax purposes shall be computed by reference to the Book Value of the property so disposed, notwithstanding that the adjusted tax
basis of such property differs from its Book Value;

 

(d)              
any items of depreciation, amortization, and other cost recovery deductions with respect to Company property having a Book Value
that differs from its adjusted tax basis shall be computed by reference to the property's Book Value (as adjusted for Book Depreciation)
in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(g);

 

 

 

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(e)              
if the Book Value of any Company property is adjusted as provided in the definition of Book Value, then the amount of such adjustment
shall be treated as an item of gain or loss and included in the computation of such taxable income or taxable loss; and

 

(f)               
to the extent an adjustment to the adjusted tax basis of any Company property pursuant to Code Sections 732(d), 734(b), or 743(b)
is required, pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts,
the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the
asset) or loss (if the adjustment decreases such basis).

 

“Nonrecourse Deductions”
has the meaning set forth in Treasury Regulations Section 1.704-2(b).

 

“Nonrecourse Liability”
has the meaning set forth in Treasury Regulations Section 1.704-2(b)(3).

 

“NRS” means
Chapter 86 of the Nevada Revised Statutes – Limited Liability Companies, currently in effect and as the same may be from time to
time amended.

 

“Occupancy Management
Agreement” has the meaning set forth in the Recitals.

 

“Officers”
has the meaning set forth in Section 7.01(a).

 

“Permitted Transfer”
means a Transfer of Membership Interests carried out pursuant to Section 8.02.

 

“Permitted Transferee”
means a recipient of a Permitted Transfer.

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization,
trust, association, or other entity.

 

“Pro Rata Share”
means:

 

(g)              
for purposes of Section 3.02, with respect to any non-contributing Member in an
Additional Capital Contribution, on any date that an Additional Contribution is made, a fraction determined by dividing (i) such non-contributing
Member's Membership Interest immediately before the Additional Capital Contribution by (ii) the sum of (x) such non-contributing Member's
Membership Interest immediately before the Additional Capital Contribution and (y) the Membership Interest held by all other non-contributing
Members immediately before such Additional Capital Contribution.

 

(h)              
for the purposes of this Agreement, with respect to
any Member, a percentage equal to the percentage by which such Member's Membership Interest bears to all outstanding Membership Interests
immediately before the issuance of New Securities.

 

 

 

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“Quarterly Estimated
Tax Amount” of a Member for any calendar quarter of a Fiscal Year means the excess, if any, of (a) the product of (i) a quarter
(1⁄4) in the case of the first calendar quarter of the Fiscal Year, half (1⁄2) in the case of the second calendar quarter of
the Fiscal Year, three-quarters (3⁄4) in the case of the third calendar quarter of the Fiscal Year, and one (1) in the case of the
fourth calendar quarter of the Fiscal Year and (ii) the Member's Estimated Tax Amount for such Fiscal Year, over (b) all distributions
previously made during such Fiscal Year to such Member.

 

“Regulatory Allocations”
has the meaning set forth in Section 5.02(e).

 

“Related Party Transaction”
means any agreement, arrangement, transaction or understanding between the Company and any Initial Members, Member, or Officer, of the
Company or any Affiliate of a Initial Members, Member, or Officer of the Company, including, without limitation, any Member Loans; in
each case, as such agreement may be amended, modified, supplemented, or restated in accordance with the terms of this Agreement.

 

“Representative”
means, with respect to any Person, any and all directors, officers, employees, consultants, financial advisors, counsel, accountants,
and other agents of such Person.

 

“Revised Partnership
Audit Rules” has the meaning set forth in Section 10.04(c).

 

“Securities Act”
means the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations thereunder, which shall
be in effect at the time.

 

“Shortfall Amount”
has the meaning set forth in Section 6.02(b).

 

“Shortfall Amount
Distribution Date” has the meaning set forth in Section 6.02(b).

 

“Spousal Consent”
has the meaning set forth in Section 12.18.

 

“Spousal Purchase
Price” has the meaning set forth in Section 8.03(c).

 

“Spouse”
means a spouse, a party to a civil union, a registered domestic partner, a same-sex spouse or partner, or any person in a Marital Relationship
with a Member.

 

“Spouse’s Interest”
has the meaning set forth in Section 8.03(a).

 

“Subsidiary”
means, with respect to any Person, any other Person of which a majority of the outstanding shares or other equity interests having the
power to vote for directors or comparable managers are owned, directly or indirectly, by the first Person.

 

“Tax Advance”
has the meaning set forth in Section 6.02(a).

 

“Tax Amount”
of a Member for a Fiscal Year means the product of (a) the Tax Rate for such Fiscal Year and (b) the Adjusted Taxable Income of the Member
for such Fiscal Year with respect to its Membership Interest.

 

 

 

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“Tax Distribution
Date” has the meaning set forth in Section 6.02(a).

 

“Tax Matters Representative”
has the meaning set forth in Section 10.04(a).

 

“Tax Rate”
of a Member, for any period, means the highest effective marginal combined federal, state, and local tax rate applicable to an individual
residing in Reno, Nevada (or, if higher, a corporation doing business in Reno, Nevada), taking into account (a) the character (for example,
long-term or short-term capital gain, ordinary or exempt) of the applicable income and (b) if applicable, the deduction under IRC Section
199A.

 

“Taxing Authority”
has the meaning set forth in Section 6.03(b).

 

“Transfer”
means to, directly or indirectly, sell, transfer, assign, gift, pledge, encumber, hypothecate, or similarly dispose of, either voluntarily
or involuntarily, by operation of law or otherwise, or to enter into any contract, option, or other arrangement or understanding with
respect to the sale, transfer, assignment, gift, pledge, encumbrance, hypothecation, or similar disposition of, any Membership Interests
owned by a Person or any interest (including a beneficial interest or "transferable interest" as defined by Section 17701.02(aa)
of NRS) in any Membership Interests owned by a Person. “Transfer” when used as a noun, and “Transferred”
when used to refer to the past tense, shall have correlative meanings. “Transferor” and “Transferee”
mean a Person who makes or receives a Transfer, respectively.

 

“Treasury Regulations”
means the final or temporary regulations issued by the United States Department of Treasury pursuant to its authority under the Code,
and any successor regulations.

 

“Units”
means outstanding certificated units of Membership Interests.

 

“Withholding Advances”
has the meaning set forth in Section 6.03(b).

 

Section 1.02         
Interpretation. For purposes of this Agreement, (a) the words "include," "includes," and "including"
shall be deemed to be followed by the words "without limitation," (b) the word "or" is not exclusive, and (c) the
words "herein," "hereof," "hereby," "hereto," and "hereunder" refer to this Agreement
as a whole. The definitions given for any defined terms in this Agreement shall apply equally to both the singular and plural forms of
the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine, and neuter forms.
Unless the context otherwise requires, references herein (x) to Articles, Sections, Exhibits, and Schedules mean the Articles and Sections
of and Exhibits and Schedules attached to this Agreement, (y) to an agreement, instrument, or other document means such agreement, instrument,
or other document as amended, restated, supplemented, and modified from time to time to the extent permitted by the provisions thereof,
and (z) to a statute or Applicable Law means such statute or Applicable Law as amended from time to time and includes any successor legislation
thereto and any regulations promulgated thereunder. This Agreement shall be construed without regard to any presumption or rule requiring
construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The Exhibits and Schedules
referred to herein shall be construed with, and as an integral part of, this Agreement to the same extent as if they were set forth verbatim
herein.

 

 

 

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ARTICLE II

Organization and Membership Interests

 

Section 2.01         
Formation.

 

(a)           
The Company was formed on January 25, 2022, pursuant to the provisions of NRS, upon the filing of the Articles of Organization with the
Nevada Secretary of State, filing number 20222049658 and Entity ID E20496592022-7, as amended to change the name of the Company from “Global
Social Marketing LLC” to “Global Social Media LLC” on January 28, 2022, with filing number 20222057792.

 

(b)          
This Agreement shall constitute the “operating agreement” (as that term is used in NRS) of the Company. The rights, powers,
duties, obligations, and liabilities of the Members shall be determined pursuant to NRS and this Agreement. To the extent that the rights,
powers, duties, obligations, and liabilities of any Member are different by reason of any provision of this Agreement than they would
be under NRS in the absence of such provision, this Agreement shall, to the extent permitted by NRS, control.

 

Section 2.02        
Name. The name of the Company is “Global Social Media LLC” or such other name or names as may be designated by
the Members pursuant to Section 7.02(g); provided, that the name shall always contain
the words “limited liability company” or the abbreviation “L.L.C.” or “LLC.” The Company may conduct
business under any assumed or fictitious name required by Applicable Law or otherwise deemed desirable by the Members.

 

Section 2.03        
Principal Office. The principal office of the Company is located c/o iPower Inc., 2399 Bateman Avenue, Irwindale, California 91010,
or such other place as may from time to time be determined by the Members.

 

Section 2.04        
Office and Agent for Service of Process. The office for service of process on the Company in the State of Nevada shall be the office
of the initial agent named in the Articles of Organization or such other office (which need not be a place of business of the Company)
as the Initial Members may designate from time to time in the manner provided by NRS and Applicable Law.

 

Section 2.05         
Purpose; Powers.

 

(a)           
The purpose of the Company is (i) to provide a social media platform, contents, and services to assist businesses, including IPW and other
businesses, in the marketing of their products and (ii) to engage in any other lawful act or activity for which limited liability companies
may be formed under NRS including engaging in any and all activities necessary or incidental thereto (the “Company Business”).

 

(b)           
The Company shall have all the powers necessary or convenient to carry out the purposes for which it is formed, including the powers granted
by NRS.

 

Section 2.06         
Term. The term of the Company commenced on the date the Articles of Organization were filed with the Nevada Secretary of State and
shall continue in existence perpetually until the Company is dissolved in accordance with the provisions of this Agreement or as provided
by Applicable Law.

 

 

 

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Section 2.07         
Membership Interests. The Membership Interests in the Company shall mean a Member’s rights in and obligations to the
Company, including the Member’s Economic Interest (as defined below), any right to vote or participate in management and any right
to information concerning the business and affairs of the Company provided by the Act, and shall be issued in the classes set forth in
Section 2.2 below. “Economic Interest” means the right of a Person (as defined below) to share in the allocation
of, and to receive distributions from, the Company, but does not include any other rights of a Member, including the right to vote or
to participate in management or, except as provided in the Act, any right to information concerning the business and affairs of the Company.

 

Section 2.08         
Authorization and Issuance of Units; Voting Rights. The Membership Interests shall consist of numbers of units of Membership
Interest (the “Units”). The Units may be issued as certificated or uncertificated Units. The Company is authorized
to issue Units, as follows:

 

(a)           
Membership Units. 10,000 Units of Membership Interests shall be authorized and are referred to as “Units”.
The Units have been purchased by the Initial Members as follows:

 

(i)            
IPW shall purchase 6,000 Units for a cash payment to the Company of a minimum of $100,000 to provide the Company with initial working
capital; and

 

(ii)           
Bro Angel shall purchase 4,000 Units in consideration for a cash payment to the Company of $10,000, the Bro Angel License Agreement,
and its commitment to manage the Company Business; and

 

(b)            Each
Member holding Units shall have the right to one (1) vote per Unit. The Units initially shall be issued as set forth in Schedule A.

 

ARTICLE III

Capital Contributions; Capital Accounts

 

Section 3.01         
Initial Capital Contributions.

 

(a)          
On the Effective Date of this Agreement, the Initial Members shall make Capital Contributions to the Company in exchange for the number
of Units of Membership Interest and in the amounts set forth above in Section 2.08(a) (each an “Initial Capital Contribution”)
and shall receive an aggregate of 10,000 Units.

 

(b)           
Contemporaneously with the execution of this Agreement, each Initial Member has made his or its Initial Capital Contribution and is deemed
to Units in the amounts set forth opposite such Member’s name on Schedule A attached hereto (the “Members Schedule”).
Such Membership Interests shall be expressed both as a percentage interest and in Units as provided in the Members Schedule. The Members
shall update the Members Schedule upon the issuance or Transfer of any Units to any new or existing Member in accordance with this Agreement.
No Member shall be entitled to receive any interest on his, her or its Capital Contributions or Capital Account, but Members shall be
entitled to receive interest in connection with any Member Loans contemplated by Section 3.07.

 

 

 

    	 	12	 

     

    

 

Section 3.02         
Additional Capital Contributions. No Member shall be required to make any additional Capital Contributions to the Company in
excess of the Initial Capital Contributions set forth in Section 3.01(a) above. Following the Effective Date of this Agreement, in addition
to the Initial Capital Contributions, the Initial Members may make additional Capital Contributions in such amounts as the Members may
agree upon as a Major Decision contemplated by Section 7.02 (each an “Additional Capital Contribution”) in compliance
with this Agreement. However, no individual Member shall be required to make his or its Pro-Rata Share of any Additional Capital Contribution.
With respect to any Additional Capital Contributions if one or more Initial Member(s) makes such an approved Additional Capital Contribution
to the Company, the Initial Member making such Additional Capital Contribution shall revise the Members Schedule to reflect an increase
in the Membership Interest of the contributing Member or Members, and the corresponding Pro Rata Share of the decrease in the Membership
Interest of each non-contributing Member or Members, that fairly and equitably reflects the value of the contributing Members Additional
Capital Contribution in relation to the aggregate amount of all Capital Contributions made by the Members.

 

Section 3.03         
Maintenance of Capital Accounts. The Company shall establish and maintain for each Member a separate capital account (a “Capital
Account”) on its books and records in accordance with this Section 3.03. Each Capital Account shall be established and maintained
in accordance with the following provisions:

 

		(a)	Each Member's Capital Account shall be increased by the amount of:

 

		(i)	such Member's Capital Contributions, including any Additional Capital Contributions;

 

		(ii)	any Net Income or other item of income or gain allocated to such Member pursuant to ARTICLE V; and

 

		(iii)	any liabilities of the Company that are assumed by such Member or secured by any property distributed
to such Member.

 

		(b)	Each Member's Capital Account shall be decreased by:

 

		(i)	the cash amount or Book Value of any property distributed to such Member pursuant to ARTICLE VI and Section
11.03(d);

 

		(ii)	the amount of any Net Loss or other item of loss or deduction allocated to such Member pursuant to ARTICLE
V; and

 

 

 

    	 	13	 

     

    

 

		(iii)	the amount of any liabilities of such Member assumed by the Company or that are secured by any property
contributed by such Member to the Company.

 

Section 3.04        
Succession Upon Transfer. If any Membership Interests are Transferred in accordance with the terms of this Agreement, the Transferee
shall succeed to the Capital Account of the Transferor to the extent it relates to the Transferred Membership Interests and, subject to
Section 5.04, shall receive allocations and distributions pursuant to ARTICLE V,
ARTICLE VI, and ARTICLE XI in respect
of such Membership Interests.

 

Section 3.05         
Negative Capital Accounts. If any Member shall have a deficit balance in its Capital Account, such Member shall have no obligation,
during the term of the Company or upon dissolution or liquidation thereof, to restore such negative balance or make any Capital Contributions
to the Company by reason thereof, except as may be required by Applicable Law or in respect of any negative balance resulting from a withdrawal
of capital or dissolution in contravention of this Agreement.

 

Section 3.06        
No Withdrawals from Capital Accounts. No Member shall be entitled to withdraw any part of its Capital Account or to receive any distribution
from the Company, except as otherwise provided in this Agreement. No Member, including the Initial Members, shall receive any interest,
salary, or drawing with respect to its Capital Contributions or its Capital Account, except as otherwise provided in this Agreement. The
Capital Accounts are maintained for the sole purpose of allocating items of income, gain, loss, and deduction among the Members and shall
have no effect on the amount of any distributions to any Members, in liquidation or otherwise.

 

Section 3.07         
Member Loans and Treatment of Loans from Members.

 

(a)             Each
of the Initial Members acknowledge that from time to time Members or their Affiliates may make loans to the Company, the proceeds of which
are intended to be used as working capital for the Company and/or to finance in whole or in part the acquisition of additional assets,
(“Member Loans”). The terms of such Member Loans shall be approved as a Major Decision contemplated by Section 7.02
and may (i) be secured by Liens on purchased assets, (ii) bear interest at annual rates that are consistent with higher interest rates
then being charged by lenders to development stage businesses; and (iii) may be convertible at the option of the embers at such conversion
prices and rates as shall be determined by the Members.

 

(b)            Loans
by any Member to the Company shall not be considered Capital Contributions and shall not affect the maintenance of such Member's Capital
Account, other than to the extent provided in Section 3.03(a)(iii), if applicable.

 

Section 3.08         
Modifications. The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts
are intended to comply with Treasury Regulations Section 1.704-1(b) and shall be interpreted and applied in a manner consistent with such
Treasury Regulations. If the Members determine that it is prudent to modify the manner in which the Capital Accounts, or any increases
or decreases to the Capital Accounts, are computed to comply with such Treasury Regulations, the Members may authorize such modifications.

 

 

 

    	 	14	 

     

    

 

ARTICLE IV

Members

 

Section 4.01         
Admission of New Members.

 

(a)           
New Members may be admitted from time to time
only with the written consent of the Members as a Major Decision contemplated by Section 7.02 (i) in connection with the issuance of
Membership Interests by the Company, subject to compliance with the provisions of Section 7.02(b)
and ARTICLE VIII, and (ii) in connection with a Transfer of Membership Interests,
subject to compliance with the provisions of this Agreement, and in either case, following compliance with the provisions of Section
4.01(b).

 

(b)           
In order for any Person not already a Member of the Company to be admitted as a Member, whether pursuant to an issuance or Transfer of
Membership Interests, such Person shall have delivered to the Company (i) an executed written undertaking substantially in the form of
the Joinder Agreement and (ii) if such Person is a natural person who has a Spouse, an executed written undertaking substantially in the
form of the Spousal Consent. Upon the amendment of the Members Schedule and the satisfaction of all other applicable conditions, including,
if a condition, the receipt by the Company of payment for the issuance of Membership Interests, such Person shall be admitted as a Member
and deemed listed as such on the books and records of the Company. The Members shall also adjust the Capital Accounts of the Members as
necessary in accordance with Section 3.03.

 

Section 4.02         
No Personal Liability. Except as otherwise provided by NRS, by Applicable Law, or expressly in this Agreement, no Member will be obligated
personally for any debt, obligation, or liability of the Company or other Members, whether arising in contract, tort, or otherwise, solely
by reason of being or acting as a Member. Except as otherwise provided by NRS, by Applicable Law, or expressly in this Agreement, no member
of the Initial Members will be obligated personally for any debt, obligation, or liability of the Company, whether arising in contract,
tort, or otherwise, solely by reason of being or acting as a member of the Initial Members.

 

Section 4.03         
Dissociation; Death.

 

(a)           
No Member shall have the ability to dissociate or withdraw as a Member pursuant to Section 17706.01(a) or Section 17706.02(a) of NRS,
or otherwise except as required by Applicable Law, before the dissolution and winding up of the Company and any such dissociation or withdrawal
or attempted dissociation or withdrawal by a Member before the dissolution or winding up of the Company shall be null and void. As soon
as any Person who is a Member ceases to hold any Membership Interests, such Person shall no longer be a Member.

 

 

 

    	 	15	 

     

    

 

(b)           
In the event of the death of a Member, the Company and its business shall be continued by the remaining Member or Members, subject to
Section 11.01(c).

 

Section 4.04         
No Interest in Company Property. No real or personal property of the Company shall be deemed to be owned by any Member individually,
but shall be owned by, and title shall be vested solely in, the Company. Without limiting the foregoing, each Member hereby irrevocably
waives during the term of the Company any right that such Member may have to maintain any action for partition with respect to the property
of the Company.

 

Section 4.05         
Certification of Units of Membership Interests.

 

(a)          
At the request of either IPW or Bro Angel, the Company shall issue certificates to each Member representing the Membership Interests held
by such Member. The Company shall record or cause to be recorded all issuances, exchanges, and other transactions in Membership Interests
involving the Members in a ledger maintained as part of the books and records of the Company.

 

(b)           
If the Company shall issue certificates representing Membership Interests in accordance with Section 4.05(a), then in addition to any
other legend required by Applicable Law, all certificates representing issued and outstanding Membership Interests shall bear a legend
substantially in the following form:

 

THE MEMBERSHIP INTERESTS REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO AN OPERATING AGREEMENT AMONG THE COMPANY AND ITS MEMBERS, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL
OFFICE OF THE COMPANY. NO TRANSFER, SALE, OFFER, ASSIGNMENT, GIFT, PLEDGE, ENCUMBRANCE, HYPOTHECATION, OR OTHER DISPOSITION OF THE MEMBERSHIP
INTERESTS REPRESENTED BY THIS CERTIFICATE MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SUCH OPERATING AGREEMENT.

 

THE MEMBERSHIP INTERESTS REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS
AND MAY NOT BE TRANSFERRED, SOLD, OFFERED, ASSIGNED, GIFTED, PLEDGED, ENCUMBERED, HYPOTHECATED, OR OTHERWISE DISPOSED EXCEPT PURSUANT
TO (A) A REGISTRATION STATEMENT EFFECTIVE UNDER SUCH ACT AND LAWS, OR (B) AN EXEMPTION FROM REGISTRATION THEREUNDER.

 

Section 4.06         
Meetings.

 

(a)           
Meetings of the Members may be called by any one Member or the Majority Members.

 

(b)           
Written notice stating the place, date, and time of the meeting, the means of electronic video screen communication or Electronic Transmission
by and to the Company, if any, and the general nature of the business to be transacted at the meeting, shall be delivered not fewer than
five (5) days and not more than sixty (60) days before the date of the meeting to each Member, by or at the direction of the Member(s)
calling the meeting, as the case may be. The business to be conducted at such meeting shall be limited to the purposes described in the
notice. The Members may hold meetings at the Company's principal office or at such other place, within or outside the State of Nevada,
as the Member(s) calling the meeting may designate in the notice for such meeting.

 

 

 

    	 	16	 

     

    

 

(c)          
Any Member may participate in a meeting of the Members (i) using conference telephone or electronic video screen communication, if all
Persons participating in the meeting can talk to and hear each other, or (ii) by Electronic Transmission by and to the Company if the
Company (1) implements reasonable measures to provide Members, in person or by proxy, a reasonable opportunity to participate and vote,
including an opportunity to read or hear the meeting's proceedings substantially concurrently with the proceedings, and (2) maintains
a record of votes or other action taken by the Members. Participation in a meeting by such means shall constitute presence in person at
such meeting.

 

(d)           
On any matter that is to be voted on by the Members, a Member may vote in person or by proxy, and such proxy may be granted in writing
signed by such Member, using Electronic Transmission authorized by such Member, or as otherwise permitted by Applicable Law. Every proxy
shall be revocable in the discretion of the Member executing it unless otherwise provided in such proxy; provided, that such right to
revocation shall not invalidate or otherwise affect actions taken under such proxy before such revocation.

 

(e)          
Attendance of a Member at any meeting shall constitute a waiver of notice of such meeting, except where a Member attends a meeting for
the express purpose of objecting to the transaction of any business on the ground that the meeting is not lawfully called or convened.
Attendance of a Member at a meeting is not a waiver of the Member's right to object to consideration of matters required to be described
in the notice for the meeting, if the Member expressly objects to such consideration at the meeting.

 

(f)           
A quorum of any meeting of the Members shall require the presence, whether in person or by proxy, of IPW and Bro Angel, or their Initial
Member Transferee. Subject to Section 4.07, no action may be taken by the Members unless the appropriate quorum is present at a meeting.

 

(g)          
Subject to Section 4.07, and any other provision of this Agreement or NRS requiring the vote, consent, or approval of a different percentage
of the Membership Interests, no action may be taken by the Members at any meeting at which a quorum is present or by written consent without
the affirmative vote of IPW and Bro Angel, or their Initial Member Transferee.

 

Section 4.07         
Action Without a Meeting. Notwithstanding the provisions of Section 4.06, any matter
that is to be voted on, consented to, or approved by the Members may be taken without a meeting if a written consent is signed and delivered
(including by Electronic Transmission) to the Company within 60 days of the record date for that action by a Member or the Majority Members
having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all Members
entitled to vote were present and voted. A record shall be maintained of each such action taken by written consent of a Member or the
Members.

 

 

 

    	 	17	 

     

    

 

ARTICLE V

Allocations

 

Section 5.01         
Allocation of Net Income and Net Loss. For each Fiscal Year (or portion thereof), after giving effect to the special allocations set
forth in Section 5.02, Net Income and Net Loss of the Company shall be allocated among
the Members pro rata in accordance with their Membership Interests.

 

Section 5.02         
Regulatory and Special Allocations. Notwithstanding the provisions of Section 5.01:

 

(a)          
If there is a net decrease in Company Minimum Gain (determined according to Treasury Regulations Section 1.704-2(d)(1)) during any Fiscal
Year, each Member shall be specially allocated Net Income for such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount
equal to such Member's share of the net decrease in Company Minimum Gain, determined in accordance with Treasury Regulations Section 1.704-2(g).
The items to be so allocated shall be determined in accordance with Treasury Regulations Sections 1.704-2(f)(6) and 1.704-2(j)(2). This
Section 5.02 is intended to comply with the "minimum gain chargeback" requirement
in Treasury Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.

 

(b)          
Member Nonrecourse Deductions shall be allocated in the manner required by Treasury Regulations Section 1.704-2(i). Except as otherwise
provided in Treasury Regulations Section 1.704-2(i)(4), if there is a net decrease in Member Nonrecourse Debt Minimum Gain during any
Fiscal Year, each Member that has a share of such Member Nonrecourse Debt Minimum Gain shall be specially allocated Net Income for such
Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to that Member's share of the net decrease in Member Nonrecourse
Debt Minimum Gain. Items to be allocated pursuant to this paragraph shall be determined in accordance with Treasury Regulations Sections
1.704-2(i)(4) and 1.704-2(j)(2). This Section 5.02(b) is intended to comply with the "minimum gain chargeback" requirements
in Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith.

 

(c)           
Nonrecourse Deductions shall be allocated to the Members in accordance with their Membership Interests.

 

(d)           In the event any Member unexpectedly receives any adjustments, allocations, or distributions described in Treasury Regulations Section
1.704-1(b)(2)(ii)(d)(4), (5), or (6), Net Income shall be specially allocated to such Member in an amount and manner sufficient to eliminate
the Adjusted Capital Account Deficit created by such adjustments, allocations, or distributions as quickly as possible. This Section 5.02(d)
is intended to comply with the "qualified income offset" requirement in Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and
shall be interpreted consistently therewith.

 

(e)           
The allocations set forth in paragraphs Section 5.02(a), Section 5.02(b), Section 5.02(c), and Section 5.02(d) above (the "Regulatory
Allocations") are intended to comply with certain requirements of the Treasury Regulations under Code Section 704. Notwithstanding
any other provisions of this ARTICLE V (other than the Regulatory Allocations), the Regulatory Allocations shall be taken into account
in allocating Net Income and Net Losses among Members so that, to the extent possible, the net amount of such allocations of Net Income
and Net Losses and other items and the Regulatory Allocations to each Member shall be equal to the net amount that would have been allocated
to such Member if the Regulatory Allocations had not occurred.

 

 

 

    	 	18	 

     

    

 

Section 5.03         
Tax Allocations.

 

(a)           
Subject to Section 5.03(b), Section 5.03(c), and Section 5.03(d), all income, gains, losses, and deductions of the Company shall be allocated,
for federal, state, and local income tax purposes, among the Members in accordance with the allocation of such income, gains, losses,
and deductions pursuant to Section 5.01 and Section 5.02, except that if any such allocation for tax purposes is not permitted by the
Code or other Applicable Law, the Company's subsequent income, gains, losses, and deductions shall be allocated among the Members for
tax purposes, to the extent permitted by the Code and other Applicable Law, so as to reflect as nearly as possible the allocation set
forth in Section 5.01 and Section 5.02.

 

(b)           
Items of Company taxable income, gain, loss, and deduction with respect to any property contributed to the capital of the Company shall
be allocated among the Members in accordance with Code Section 704(c) and the traditional method with curative allocations of Treasury
Regulations Section 1.704-3(c), so as to take account of any variation between the adjusted basis of such property to the Company for
federal income tax purposes and its Book Value.

 

(c)           
If the Book Value of any Company asset is adjusted pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(f) as provided in clause
(c) of the definition of Book Value, subsequent allocations of items of taxable income, gain, loss, and deduction with respect to such
asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Book Value
in the same manner as under Code Section 704(c).

 

(d)           
Allocations of tax credit, tax credit recapture, and any items related thereto shall be allocated to the Members according to their interests
in such items as determined by the Members taking into account the principles of Treasury Regulations Section 1.704-1(b)(4)(ii).

 

(e)           
Allocations pursuant to this Section 5.03 are solely for purposes of federal, state, and local taxes and shall not affect, or in any way
be taken into account in computing, any Member's Capital Account or share of Net Income, Net Losses, distributions, or other items pursuant
to any provisions of this Agreement.

 

Section 5.04         
Allocations in Respect of Transferred Membership Interests. In the event of a Transfer of Membership Interests during any Fiscal
Year made in compliance with the provisions of this Agreement,
Net Income, Net Losses, and other items of income, gain, loss, and deduction of the Company attributable to such Membership Interests
for such Fiscal Year shall be determined using the interim closing of the books method.

 

 

 

    	 	19	 

     

    

 

ARTICLE VI

Distributions

 

Section 6.01         
General.

 

(a)           
Subject to Section 6.02, distributions of available Net Income and distributions of cash from operations (each “Distributable
Cash Flow”) shall be made to the Members when and in such amounts as determined by the Majority Member; it being understood
that Distributable Cash Flow shall be paid by the Company as a distribution after payments are made to IPW under the Occupancy Management
Agreement. After making all distributions required for a given Fiscal Year under Section 6.02, distributions of Distributable Cash Flow
determined to be made pursuant to this Section 6.01(a) shall be paid in accordance with their respective Economic Interests in Units owned
by the Initial Members or any Transferee of the Initial Members.

 

(b)           
Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make any distribution to Members if such
distribution would violate Section 17704.05 of NRS or other Applicable Law.

 

Section 6.02         
Tax Advances.

 

(a)          
Subject to Section 6.01(b) and any restrictions in the Company’s then applicable debt-financing arrangements, and subject to the
Majority Member's determination to retain any other amounts necessary to satisfy the Company’s obligations, at least five (5) days
before each date prescribed by the Code for a calendar-year entity to pay quarterly instalments of estimated tax (a "Tax Distribution
Date"), the Company shall use commercially reasonable efforts to distribute cash to each Member in proportion to and to the extent
of such Member's Quarterly Estimated Tax Amount for the applicable calendar quarter (each such distribution, a "Tax Advance").

 

(b)           
If, at any time after the final Quarterly Estimated Tax Amount has been distributed pursuant to Section 6.02(a) with respect to any Fiscal
Year, the aggregate Tax Advances to any Member with respect to such Fiscal Year are less than such Member's Tax Amount for such Fiscal
Year (a "Shortfall Amount"), then the Company shall use commercially reasonable efforts to distribute cash in proportion to
and to the extent of each Member's Shortfall Amount. The Company shall use commercially reasonable efforts to distribute Shortfall Amounts
with respect to a Fiscal Year before the 75th day of the next succeeding Fiscal Year (the date of any such distribution, a "Shortfall
Amount Distribution Date"); provided, that if the Company has made distributions other than pursuant to this Section 6.02, the Members
may apply such distributions to reduce any Shortfall Amount.

 

(c)          
If the aggregate Tax Advances made to any Member pursuant to this Section 6.02 for any Fiscal Year exceed such Member's Tax Amount (an
"Excess Amount"), such Excess Amount shall reduce subsequent Tax Advances that would be made to such Member pursuant to this
Section 6.02, except to the extent taken into account as an advance pursuant to Section 6.02(d).

 

 

 

    	 	20	 

     

    

 

(d)           
Any distributions made pursuant to this Section 6.02 shall be treated for purposes of this Agreement as advances on distributions pursuant
to Section 6.01 and shall reduce, dollar-for-dollar, the amount otherwise distributable to such Member pursuant to Section 6.01.

 

Section 6.03         
Tax Withholding; Withholding Advances.

 

(a)           
Tax Withholding. Each Member agrees to furnish the Company with any representations and forms as shall be reasonably requested
by the Company to assist it in determining the extent of, and in fulfilling, any withholding obligations it may have.

 

(b)          
Withholding Advances. The Company is hereby authorized at all times to make payments ("Withholding Advances")
with respect to each Member in amounts required to discharge any obligation of the Company (as determined by the Tax Matters Representative)
based on the advice of legal or tax counsel to the Company to withhold or make payments to any federal, state, local, or foreign taxing
authority (a "Taxing Authority") with respect to any distribution or allocation by the Company of income or gain to such
Member and to withhold the same from distributions to such Member. Any funds withheld from a distribution by reason of this Section 6.03(b)
shall nonetheless be deemed distributed to the Member in question for all purposes under this Agreement. If the Company makes any Withholding
Advance in respect of a Member hereunder that is not immediately withheld from actual distributions to the Member, then the Member shall
promptly reimburse the Company for the amount of such payment, plus interest at a rate equal to the prime rate published in the Wall Street
Journal on the date of payment plus 2% per annum, compounded annually, on such amount from the date of such payment until such amount
is repaid (or deducted from a distribution) by the Member (any such payment shall not constitute a Capital Contribution). Each Member's
reimbursement obligation under this Section 6.03(b) shall continue after such Member transfers its Membership Interests.

 

(c)          
Indemnification. Each Member hereby agrees to indemnify and hold harmless the Company and the other Members from and against any
liability with respect to the taxes, interest, or penalties that may be asserted by reason of the Company's failure to deduct and withhold
tax on amounts distributable or allocable to such Member. The provision of this Section 6.03(c) and the obligations of a Member pursuant
to Section 6.03(b) shall survive the termination, dissolution, liquidation, and winding
up of the Company and the dissociation or withdrawal of such Member from the Company or the Transfer of a Member’s Membership Interests.
The Company may pursue and enforce all rights and remedies it may have against each Member under this Section 6.03,
including bringing a lawsuit to collect repayment with interest of any Withholding Advances.

 

(d)           
Overwithholding. Neither the Company nor the Members shall be liable for any excess taxes withheld in respect of any distribution
or allocation of income or gain to a Member. In the event of an overwithholding, a Member's sole recourse shall be to apply for a refund
from the appropriate Taxing Authority.

 

 

 

    	 	21	 

     

    

 

ARTICLE VII

Management

 

Section 7.01         
Management of the Company. Subject at all times to the provisions of Section 7.02 below, the Company shall be managed by the Initial
Members. Subject to the provisions of Section 7.01 and except as otherwise provided by NRS or this Agreement, the Initial Members shall
have full and complete discretion to manage and control the operation of the day-to-day business, property, activities, and affairs of
the Company, to make all decisions affecting the day-to-day business, property, activities, and affairs of the Company, and to take all
such actions as they deem necessary or appropriate to accomplish the purposes of the Company set forth in Section 2.05.
Subject at all times to the provisions of Section 7.02 below, the actions of the Initial Members taken in accordance with the provisions
of this Agreement shall bind the Company. For the avoidance of doubt and subject to Section 7.02 below, the management and control of
the operation of the day-to-day business and affairs of the Company must be approved by the Majority Member(s), or, if no Majority Member,
by the vote of the number of Units representing a majority (i.e., fifty-one percent (51%) or higher) of the then outstanding Membership
Interests of the Company.

 

Section 7.02        
Major Decisions.Notwithstanding anything to the contrary, express or implied, set forth in this Agreement, neither IPW nor any
IPW Transferee or any Affiliate of such Persons, whether in their capacities as a Majority Member(s) or otherwise, may directly or indirectly
cause the Company to engage in any of the following actions, without the prior written consent of Bro Angel:

 

(a)           
amend, modify, or waive any provisions of this Agreement, the Joint Venture Agreement, the Occupancy Management Agreement, or the Bro
Angel License Agreement.

 

(b)           
cause the Company engage in any activity, other than the conduct of the Company Business as set forth in clause (i) of the definition
of Company Business set forth in Section 2.05(a) above and in the Joint Venture Agreement;

 

(c)           
admit additional Members to the Company or issue additional or
other securities or, except in connection with a Transfer of Membership Interests that complies with the applicable provisions of this
Agreement and Section 4.01(b), admit additional Members, or cause the Company to do any of the above;

 

(d)           
enter into, amend, waive, or terminate any Related Party Transaction involving the Company or any Member;

 

(e)           
make any loans to the Company or extend any credit to the Company, except on terms that are no less favorable to the Company than it could
then obtain from any unaffiliated third party;

 

 

 

    	 	22	 

     

    

 

(f)            
entering into any agreement or commitment that would constitute a Change of Control Transaction of the Company;

 

(g)           
change the Company's name; provided that the name shall always contain the words "limited liability company" or the abbreviation
"L.L.C." or "LLC;" or

 

Section 7.03        
Officers. The Initial Members may appoint individuals as officers of the Company (the “Officers”) as the
Initial Members deems necessary or desirable to carry on the Company Business. The Initial Members may delegate to such Officers such
power and authority as the Initial Members deems advisable. No Officer need be a Member of the Company. Any individual may hold two or
more offices of the Company. Each Officer shall hold office until his or her successor is designated by the Initial Members and approved
as a Major Decision or until his or her earlier death, resignation, or removal. Any Officer may resign at any time on written notice to
the Initial Members. Subject to Section 7.02(r), any Officer may be removed by the Initial Members with or without cause at any time.
Subject to Section 7.02(r), a vacancy in any office occurring because of death, resignation, removal, or otherwise, may, but need not,
be filled by the Initial Members. Each of the Initial Members agree that Chenlong Tan shall be designated as the Chief Executive
Officer, Jie Shan shall be designed as President, Secretary, and Chief Operating Officer, Bing Luo shall be designated as
Vice President of Marketing, and Kevin Vassily shall be designated as Chief Financial Officer of the Company.

 

Section 7.04        
Compensation and Reimbursement of Initial Members. Jie Shan and Bing Luo shall not be compensated for their services as Officers;
it being understood and agreed that their remuneration shall come solely from distributions paid to Bro Angel, in which such persons are
the members. However, the Company shall reimburse the Initial Members for all ordinary, necessary, and direct expenses incurred by the
Initial Members on behalf of the Company in carrying out the Company Business activities, including, without limitation, salaries of officers
and employees of the Company who are carrying out the Company Business activities. All reimbursements for expenses shall be reasonable
in amount and accompanied by vouchers or other evidence of the incurrence of such expenses.

 

Section 7.05         
No Personal Liability. Except as otherwise provided in NRS, by Applicable Law, or expressly in this Agreement, the members of the
Initial Members will not be obligated personally for any debt, obligation, or liability of the Company, whether arising in contract, tort,
or otherwise, solely by reason of being or acting as an Initial Members.

 

ARTICLE VIII

Transfers

 

Section 8.01         
General Restrictions on Transfer.

 

(a)           
Except as permitted pursuant to Section 8.02 or in accordance with the procedures set forth in this Section 9.01, no Member shall Transfer
all or any portion of its Membership Interest in the Company, except with the written consent of the Majority Members. No Transfer of
Membership Interests to a Person not already a Member of the Company shall be deemed completed until the prospective Transferee is admitted
as a Member of the Company in accordance with Section 4.01(b) hereof.

 

 

 

    	 	23	 

     

    

 

(b)          
Notwithstanding any other provision of this Agreement (including Section 8.02), each
Member agrees that it will not Transfer all or any portion of its Membership Interest in the Company, and the Company agrees that it shall
not issue any Membership Interests:

 

(i)            
except as permitted under the Securities Act and other applicable federal or state securities or blue sky laws, and then, with
respect to a Transfer of Membership Interests, only upon delivery to the Company of an opinion of counsel in form and substance satisfactory
to the Company to the effect that such Transfer may be effected without registration under the Securities Act;

 

(ii)           
if such Transfer or issuance would cause the Company to be considered a "publicly traded partnership" under Section 7704(b)
of the Code within the meaning of Treasury Regulations Section 1.7704-1(h)(1)(ii), including the look-through rule in Treasury Regulations
Section 1.7704-1(h)(3);

 

(iii)          
if such Transfer or issuance would affect the Company's existence or qualification as a limited liability company under NRS;

 

(iv)          
if such Transfer or issuance would cause the Company to lose its status as a partnership for federal income tax purposes;

 

(v)           
if such Transfer or issuance would cause the Company to be required to register as an investment company under the Investment Company
Act of 1940, as amended; or

 

(vi)          
if such Transfer or issuance would cause the assets of the Company to be deemed "Plan Assets" as defined under the Employee
Retirement Income Security Act of 1974 or its accompanying regulations or result in any "prohibited transaction" thereunder
involving the Company.

 

(c)           
Any Transfer or attempted Transfer of any Membership Interest in violation of this Agreement shall be null and void, no such Transfer
shall be recorded on the Company's books and the purported Transferee in any such Transfer shall not be treated (and the purported Transferor
shall continue to be treated) as the owner of such Membership Interest for all purposes of this Agreement.

 

(d)          
For the avoidance of doubt, any Transfer of a Membership Interest permitted by this Agreement shall be deemed a sale, transfer, assignment,
or other disposal of such Membership Interest in its entirety as intended by the parties to such Transfer, and shall not be deemed a sale,
transfer, assignment, or other disposal of any less than all of the rights and benefits described in the definition of the term "Membership
Interest," unless otherwise explicitly agreed to by the parties to such Transfer.

 

Section 8.02         
Permitted Transfers. The provisions of Section 8.01(a) shall not apply to any Transfer
by any Member of all or any portion of its Membership Interest to any of the following:

 

 

 

    	 	24	 

     

    

 

(a)               
Any Affiliate of such Member; or

 

(b)              
(i) Such Member's Spouse, parent, siblings, descendants (including adoptive relationships and stepchildren), and the Spouses of each such
natural person (collectively, "Family Members"), (ii) a trust under which the distribution of Membership Interests may
be made only to such Member or any Family Member of such Member, (iii) a charitable remainder trust, the income from which will be paid
to such Member during his life, (iv) a corporation, partnership, or limited liability company, the shareholders, partners, or members
of which are only such Member or Family Members of such Member, or (v) by will or by the laws of intestate succession, to such Member's
executors, administrators, testamentary trustees, legatees, or beneficiaries.

 

Section 8.03         
Purchase by Member on Termination of Marital Relationship.

 

(a)          
If the Marital Relationship of a Member is terminated by death of the Member's Spouse or by Divorce, and the Member does not succeed to
all of the Spouse's interest in the Membership Interests held by the Member at such time (the "Spouse's Interest," regardless
of whether the interest is characterized as community, quasi-community, or separate property, or as property held as joint tenants), then
the Spouse or Spouse's estate shall offer to sell to the Member, and the Member may purchase, the Spouse's Interest in such Membership
Interests for the Spousal Purchase Price set forth in Section 8.03(c).

 

(b)           
Any Membership Interest held by a Member as a trustee of a trust as a result of the death of the Spouse or the Member's Divorce from the
Spouse shall be treated as owned by the Member for purposes of this Agreement.

 

(c)           
The term "Spousal Purchase Price" means the cash price that a willing buyer having all relevant knowledge would pay a willing
seller in an arm's length transaction. The buyer and seller shall use their best efforts to mutually agree in good faith on the Spousal
Purchase Price.

 

ARTICLE IX

Indemnification

 

Section 9.01         
Covered Persons.

 

(a)          
Covered Persons. As used herein, the term "Covered Person" shall mean (i) each Member, including the Initial Members,
(ii) each officer, director, shareholder, partner, member, manager, Affiliate, employee, agent, or Representative of each Member, and
each of their respective Affiliates, and (iii) each Initial Members, Officer, employee, agent, or Representative of the Company.

 

(b)           
Indemnification. To the fullest extent permitted under NRS (after waiving all NRS restrictions on indemnification other than those
which cannot be eliminated or modified under NRS), as the same now exists or may hereafter be amended, substituted, or replaced (but,
in the case of any such amendment, substitution, or replacement, only to the extent that such amendment, substitution, or replacement
permits the Company to provide broader indemnification rights than NRS permitted the Company to provide before such amendment, substitution,
or replacement), the Company shall indemnify, hold harmless, defend, pay, and reimburse any Covered Person against any and all losses,
claims, damages, judgments, fines, or liabilities, including reasonable legal fees or other expenses incurred in investigating or defending
against such losses, claims, damages, judgments, fines, or liabilities, and any amounts expended in settlement of any claims (collectively,
"Losses") to which such Covered Person may become subject by reason of:

 

 

 

    	 	25	 

     

    

 

(i)            
any act or omission or alleged act or omission performed or omitted to be performed on behalf of the Company, any Member, the Initial
Members, or any of their respective direct or indirect Subsidiaries in connection with the business of the Company; or

 

(ii)           
such Covered Person being or acting in connection with the business of the Company as a member, shareholder, partner, Affiliate,
manager, director, officer, employee, agent, or Representative of the Company, any Member, the Initial Members, or any of their respective
Affiliates, or such Covered Person serving or having served at the request of the Company as a member, manager, director, officer, employee,
agent, or Representative of any Person including the Company; provided, that such Loss did not arise from (a) the Covered Person's conduct
involving bad faith, willful or intentional misconduct, or a knowing violation of law, (b) a transaction from which such Covered Person
derived an improper personal benefit, (c) a circumstance under which the liability provisions for improper distributions of Section 17704.06
of NRS are applicable, or (d) a breach of such Covered Person's duties or obligations under Section 17704.09 of NRS (taking into account
any restriction, expansion, or elimination of such duties and obligations provided for in this Agreement).

 

(c)           
Control of Defence. On a Covered Person's discovery of any claim, lawsuit, or other proceeding relating to any Losses for which
such Covered Person may be indemnified pursuant to this Section 9.01, the Covered Person
shall give prompt written notice to the Company of such claim, lawsuit, or proceeding; provided, that the failure of the Covered Person
to provide such notice shall not relieve the Company of any indemnification obligation under this Section 9.01,
unless the Company shall have been materially prejudiced thereby. Subject to the approval of the disinterested Members, the Company shall
be entitled to participate in or assume the defence of any such claim, lawsuit, or proceeding at its own expense. After notice from the
Company to the Covered Person of its election to assume the defence of any such claim, lawsuit, or proceeding, the Company shall not be
liable to the Covered Person under this Agreement or otherwise for any legal or other expenses subsequently incurred by the Covered Person
in connection with investigating, preparing to defend, or defending any such claim, lawsuit, or other proceeding. If the Company does
not elect (or fails to elect) to assume the defence of any such claim, lawsuit, or proceeding, the Covered Person shall have the right
to assume the defence of such claim, lawsuit, or proceeding as it deems appropriate, but it shall not settle any such claim, lawsuit,
or proceeding without the consent of the holders of a majority of the Membership Interests held by the disinterested Members (which consent
shall not be unreasonably withheld, conditioned, or delayed).

 

 

 

    	 	26	 

     

    

 

(d)          
Reimbursement. The Company shall promptly reimburse (or advance to the extent reasonably required) each Covered Person for reasonable
legal or other expenses (as incurred) of such Covered Person in connection with investigating, preparing to defend, or defending any claim,
lawsuit, or other proceeding relating to any Losses for which such Covered Person may be indemnified pursuant to this Section 9.01;
provided, that if it is finally judicially determined that such Covered Person is not entitled to the indemnification provided by this
Section 9.01, then such Covered Person shall promptly reimburse the Company for any reimbursed
or advanced expenses.

 

(e)           
Entitlement to Indemnity. The indemnification provided by this Section 9.01 shall
not be deemed exclusive of any other rights to indemnification to which those seeking indemnification may be entitled under any agreement
or otherwise. The provisions of this Section 9.01 shall continue to afford protection
to each Covered Person regardless of whether such Covered Person remains in the position or capacity pursuant to which such Covered Person
became entitled to indemnification under this Section 9.01 and shall inure to the benefit
of the executors, administrators, legatees, and distributees of such Covered Person.

 

(f)            
Insurance. To the extent available on commercially reasonable terms, the Company may purchase, at its expense, insurance (i) to
cover Losses covered by the indemnification provisions contained in this ARTICLE IX,
and (ii) to otherwise cover Losses for any breach or alleged breach by any Covered Person of such Covered Person's duties whether or not
covered by the foregoing indemnifications, in each case, in such amount and with such deductibles as the Members may reasonably determine;
provided, that the failure to obtain such insurance shall not affect the right to indemnification of any Covered Person under the indemnification
provisions contained in this ARTICLE IX, including the right to be reimbursed or advanced
expenses or otherwise indemnified for Losses hereunder. If any Covered Person recovers any amounts in respect of any Losses from any insurance
coverage, then such Covered Person shall, to the extent that such recovery is duplicative, reimburse the Company for any amounts previously
paid to such Covered Person by the Company in respect of such Losses.

 

(g)           
Funding of Indemnification Obligation. Notwithstanding anything contained herein to the contrary, any indemnity by the Company
relating to the matters covered in this Section 9.01 shall be provided out of and to
the extent of Company assets only, and no Member (unless such Member otherwise agrees in writing) shall have personal liability on account
thereof or shall be required to make additional Capital Contributions to help satisfy such indemnity by the Company.

 

(h)           
Savings Clause. If this Section 9.01 or any portion hereof shall be invalidated
on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify and hold harmless each Covered Person
pursuant to this Section 9.01 to the fullest extent permitted by any applicable portion
of this Section 9.01 that shall not have been invalidated and to the fullest extent permitted
by Applicable Law.

 

 

 

    	 	27	 

     

    

 

(i)             
Amendment. The provisions of this Section 9.01 shall be a contract between the
Company, on the one hand, and each Covered Person who served in such capacity at any time while this Section 9.01
is in effect, on the other hand, pursuant to which the Company and each such Covered Person intend to be legally bound. No amendment,
modification, or repeal of this Section 9.01 that adversely affects the rights of a Covered
Person to indemnification for Losses incurred or relating to a state of facts existing before such amendment, modification, or repeal
shall apply in such a way as to eliminate or reduce such Covered Person's entitlement to indemnification for such Losses without the Covered
Person's prior written consent.

 

Section 9.02         
Survival. The provisions of this ARTICLE IX shall survive the dissolution, liquidation,
winding up, and termination of the Company.

 

ARTICLE X

Accounting: Tax Matters

 

Section 10.01       
Financial Statements. The Company shall furnish to each Member the following reports:

 

(a)           
Annual Financial Statements. As soon as available, and in any event within 120 days after the end of each Fiscal Year, audited
consolidated balance sheets of the Company as of the end of each such Fiscal Year and audited consolidated statements of income, cash
flows, and Members' equity for such Fiscal Year, in each case setting forth in comparative form the figures for the previous Fiscal Year,
accompanied by the certification of independent certified public accountants of recognized national standing selected by the Members,
certifying to the effect that, except as set forth therein, such financial statements have been prepared in accordance with GAAP, applied
on a basis consistent with prior years, and fairly present in all material respects the financial condition of the Company as of the dates
thereof and the results of their operations and changes in their cash flows and Members' equity for the periods covered thereby.

 

(b)           
Quarterly Financial Statements. As soon as available, and in any event within 45 days after the end of each quarterly accounting
period in each Fiscal Year (other than the last fiscal quarter of the Fiscal Year), unaudited consolidated balance sheets of the Company
as of the end of each such fiscal quarter and for the current Fiscal Year to date and unaudited consolidated statements of income, cash
flows, and Members' equity for such fiscal quarter and for the current Fiscal Year to date, in each case setting forth in comparative
form the figures for the corresponding periods of the previous fiscal quarter, all in reasonable detail and all prepared in accordance
with GAAP, consistently applied (subject to normal year-end audit adjustments and the absence of notes thereto), and certified by the
principal financial or accounting Officer of the Company.

 

(c)           
Monthly Financial Statements. As soon as available, and in any event within 30 days after the end of each monthly accounting period
in each fiscal quarter (other than the last month of the fiscal quarter), unaudited consolidated balance sheets of the Company as of the
end of each such monthly period and for the current Fiscal Year to date and unaudited consolidated statements of income, cash flows, and
Members' equity for each such monthly period and for the current Fiscal Year to date, all in reasonable detail and all prepared in accordance
with GAAP, consistently applied (subject to normal year-end audit adjustments and the absence of notes thereto).

 

 

 

    	 	28	 

     

    

 

Section 10.02      
Inspection Rights. Upon reasonable notice from a Member or Permitted Transferee, the Company shall afford the Member or Permitted
Transferee and each of its respective Representatives access during normal business hours to (i) the Company's properties, offices, plants,
and other facilities, (ii) the corporate, financial, and similar records, reports, and documents of the Company, including, without limitation,
all books and records, minutes of proceedings, internal management documents, reports of operations, reports of adverse developments,
copies of any management letters, and communications with Members and Permitted Transferees (including the Initial Members), and permit
the Member or Permitted Transferee and each of its respective Representatives to examine such documents and make copies thereof, and (iii)
any Officers, senior employees, and public accountants of the Company, and afford the Member or Permitted Transferee and each of its respective
Representatives the opportunity to discuss and advise on the affairs, finances, and accounts of the Company with such Officers, senior
employees, and public accountants (and the Company hereby authorizes said accountants and other Persons to discuss with such Member or
Permitted Transferee and its Representatives such affairs, finances, and accounts); in each case, to the extent such information is for
a purpose reasonably related to the Member's or Permitted Transferee's interest as a Member or Permitted Transferee.

 

Section 10.03       Income Tax Status. It is the intent of the Company and the Members that the Company shall be treated as a partnership for U.S., federal,
state, and local income tax purposes. Neither the Company, the Initial Members, nor any Member shall make an election for the Company
to be classified as other than a partnership pursuant to Treasury Regulations Section 301.7701-3.

 

Section 10.04       
Tax Matters Representative.

 

(a)          
Appointment. The Members hereby appoint Kevin Vassily as "partnership representative" as provided in Code Section 6223(a)
(the "Tax Matters Representative"). The Tax Matters Representative can be removed at any time by a vote of the Initial
Members. In the event of the resignation or removal of the Tax Matters Representative, the Initial Members shall select a replacement
Tax Matters Representative.

 

(b)          
Tax Examinations and Audits. The Tax Matters Representative shall promptly notify the Members in writing of the commencement of
any tax audit of the Company, upon receipt of a tax assessment and upon receipt of a notice of final partnership adjustment, and shall
keep the Members reasonably informed of the status of any tax audit and resulting administrative and judicial proceedings. Without the
consent of the Majority Members, the Tax Matters Representative shall not extend the statute of limitations, file a request for administrative
adjustment, file suit relating to any Company tax refund or deficiency, or enter into any settlement agreement relating to items of income,
gain, loss, or deduction of the Company with any Taxing Authority.

 

 

 

    	 	29	 

     

    

 

(c)           
US Federal Tax Proceedings. Unless otherwise approved by the Members, the Tax Matters Representative will cause the Company to
annually elect out of the partnership audit procedures set forth in Subchapter C of Chapter 63 of the Code (the "Revised Partnership
Audit Rules") to the extent permitted by applicable law and regulations. For any year in which applicable law and regulations
do not permit the Company to elect out of the Revised Partnership Audit Rules, then within forty-five (45) days of any notice of final
partnership adjustment, the Tax Matters Representative will cause the Company to elect the alternative procedure under Code Section 6226,
and furnish to the Internal Revenue Service and each Member during the year or years to which the notice of final partnership adjustment
relates a statement of the Member's share of any adjustment set forth in the notice of final partnership adjustment.

 

(d)           
Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member's
federal, state, foreign, or other income tax return with the treatment of the item on the Company's return. Any deficiency for taxes imposed
on any Member (including penalties, additions to tax, or interest imposed with respect to such taxes and taxes imposed pursuant to Code
Section 6226) shall be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such
Member as provided in Section 6.03(c).

 

(e)           
Section 754 Election. The Tax Matters Representative will make an election under Code Section 754, if requested in writing by another
Member.

 

(f)            
Indemnification. The Company shall defend, indemnify, and hold harmless the Tax Matters Representative against any and all liabilities
sustained as a result of any act or decision concerning Company tax matters and within the scope of such Member's responsibilities as
Tax Matters Representative, so long as such act or decision was done or made in good faith and does not constitute gross negligence or
wilful misconduct.

 

Section 10.05      
Tax Returns. At the expense of the Company, the Members (or any Officer that they may designate pursuant to Section 7.01)
shall endeavour to cause the preparation and timely filing (including extensions) of all tax returns required to be filed by the Company
pursuant to the Code as well as all other required tax returns in each jurisdiction in which the Company owns property or does business.
No later than 90 days after the end of each Fiscal Year, the Initial Members or designated Officer will cause to be delivered to each
Person who was a Member or Permitted Transferee at any time during such Fiscal Year, such written information as may be necessary for
the preparation of such Person's federal, state and local income tax returns for such Fiscal Year. As soon as reasonably possible after
the end of each Fiscal Year, the Initial Members or designated Officer will cause to be delivered to each Person who was a Member or Permitted
Transferee at any time during such Fiscal Year, IRS Schedule K-1 to Form 1065.

 

Section 10.06      
Company Funds. All funds of the Company shall be deposited in its name, or in such name as may be designated by the Majority Members,
in such checking, savings, or other accounts, or held in its name in the form of such other investments as shall be designated by the
Members. The funds of the Company shall not be commingled with the funds of any other Person. All withdrawals of such deposits or liquidations
of such investments by the Company shall be made exclusively on the signature or signatures of such Officer or Officers as the Majority
Members may designate.

 

 

 

    	 	30	 

     

    

 

ARTICLE XI

Dissolution and Liquidation

 

Section 11.01       
Events of Dissolution. The Company shall be dissolved and its affairs wound up only on the occurrence of any of the following events:

 

(a)           
An election to dissolve the Company made by the Majority Member(s);

 

(b)          
At the election of the non-defaulting Member(s), in its/their sole discretion, if a Member breaches any material covenant, duty, or obligation
under this Agreement, which breach (if capable of cure) remains uncured for 30 days after written notice of such breach was received by
the defaulting Member.

 

(c)           
Passage of 90 consecutive days during which the Company has no Members; provided that the Membership Interest of a natural person who
is the sole Member may pass, by will or Applicable Law, to the Member's heirs, successors, or assigns pursuant to Section 17707.01(c)
of NRS; or

 

(d)           
The entry of a decree of judicial dissolution under Section 17707.03 of NRS.

 

Section 11.02      
Effectiveness of Dissolution. Dissolution of the Company shall be effective on the day on which the event described in Section 11.01
occurs. On the occurrence of an event described in Section 11.01, the Liquidator (or,
in the case of a dissolution pursuant to Section 11.01(c), the persons conducting the
winding up of the Company's affairs pursuant to Section 17707.04 of NRS) shall file a certificate of dissolution with the Nevada Secretary
of State pursuant to Section 17707.08 of NRS, unless such a filing is not required by NRS, but the Company shall not terminate until the
winding up of the Company has been completed, the assets of the Company have been distributed as provided in Section 11.03,
and the Articles of Organization shall have been cancelled as provided in Section 11.04.

 

Section 11.03       
Liquidation. If the Company is dissolved pursuant to Section 11.01, the Company shall
be liquidated and its business and affairs wound up in accordance with NRS and the following provisions:

 

(a)           
Liquidator. Stephen A. Weiss, Esq. or another partner of Michelman & Robinson, LLP designated by him shall act as liquidator
to wind up the Company (the

“Liquidator”), unless the Company is being dissolved pursuant to Section 11.01(b) based on the breach of the Liquidator,
in which case the Liquidator shall be a Person selected by the unanimous consent of the non-defaulting Member(s), in its/their sole discretion.
The Liquidator shall have full power and authority to sell, assign, and encumber any or all of the Company's assets and to wind up and
liquidate the affairs of the Company in an orderly and business-like manner.

 

 

 

    	 	31	 

     

    

 

(b)           
Notice of Liquidation. The Liquidator (or other persons winding up the affairs of the Company pursuant to Section 11.02) shall
give written notice of the commencement of winding up by mail to all known creditors and claimants whose addresses appear on the records
of the Company.

 

(c)           
Accounting. As promptly as possible after dissolution and again after final liquidation, the Liquidator shall cause a proper accounting
to be made by a recognized firm of certified public accountants of the Company's assets, liabilities, and operations through the last
day of the calendar month in which the dissolution occurs or the final liquidation is completed, as applicable.

 

(d)           
Distribution of Proceeds. The Liquidator shall liquidate the assets of the Company and distribute the proceeds of such liquidation
in the following order of priority, unless otherwise required by mandatory provisions of Applicable Law:

 

(i)            
First, to the payment of all of the Company's known debts and liabilities (including debts and liabilities to Members who are creditors,
if applicable) and the expenses of liquidation (including sales commissions incident to any sales of assets of the Company);

 

(ii)           
Second, to the establishment of and additions to reserves that are determined by the Liquidator to be reasonably necessary for
any contingent unknown liabilities or obligations of the Company; and

 

(iii)          
Third, to the Members, on a pro rata basis, in accordance with the positive balances in their respective Capital Accounts, as determined
after taking into account all Capital Account adjustments for the taxable year of the Company during which the liquidation of the Company
occurs.

 

(e)           
Discretion of Liquidator. Notwithstanding the provisions of Section 11.03(d) that
require the liquidation of the assets of the Company, but subject to the order of priorities set forth in Section 11.03(d),
if on dissolution of the Company the Liquidator reasonably determines that an immediate sale of part or all of the Company's assets would
be impractical or could cause undue loss to the Members, the Liquidator may defer the liquidation of any assets except those necessary
to satisfy Company liabilities and reserves, and may, upon the consent of the Majority Members, distribute to the Members, in lieu of
cash, as tenants in common and in accordance with the provisions of Section 11.03(d),
undivided interests in such Company assets as the Liquidator deems not suitable for liquidation. Any such distribution in kind shall be
subject to such conditions relating to the disposition and management of such properties as the Liquidator deems reasonable and equitable
and to any agreements governing the operating of such properties at such time. For purposes of any such distribution, any property to
be distributed will be valued at its Fair Market Value.

 

Section 11.04      
Certificate of Cancellation; Cancellation of Foreign Qualifications. On completion of the distribution of the assets of the Company
as provided in Section 11.03(d) hereof, the Liquidator shall file a certificate of cancellation
with the Nevada Secretary of State and shall cause the cancellation of all qualifications and registrations of the Company as a foreign
limited liability company in jurisdictions other than the State of Nevada and shall take such other actions as may be necessary to terminate
the Company.

 

 

 

    	 	32	 

     

    

 

Section 11.05       
Survival of Rights, Duties, and Obligations. Dissolution, liquidation, winding up, or termination of the Company for any reason shall
not release any party from any Loss that at the time of such dissolution, liquidation, winding up, or termination already had accrued
to any other party or thereafter may accrue in respect of any act or omission before such dissolution, liquidation, winding up, or termination.
For the avoidance of doubt, none of the foregoing shall replace, diminish, or otherwise adversely affect any Member's right to indemnification
pursuant to ARTICLE IX.

 

Section 11.06      
Recourse for Claims. Each Member shall look solely to the assets of the Company for all distributions with respect to the Company,
such Member's Capital Account, and such Member's share of Net Income, Net Loss, and other items of income, gain, loss, and deduction,
and shall have no recourse therefor (upon dissolution or otherwise) against the Liquidator or any other Member.

 

Section 11.07     
Continuation. After a certificate of dissolution has been filed but before a certificate of cancellation has been filed, Members holding
a majority of the Membership Interests may continue the Company by filing a certificate of continuation with the Nevada Secretary of State
if (a) the remaining Members unanimously vote to continue the Company's business, (b) the dissolution of the Company was by a vote of
the Members pursuant to Section 11.01(a) and each Member who voted in favor of dissolution
agrees in writing to revoke that vote, or (c) the Company was not actually dissolved.

 

ARTICLE XII

Miscellaneous

 

Section 12.01     
Expenses. Except as otherwise expressly provided herein, all costs and expenses, including fees and disbursements of counsel, financial
advisors, and accountants, incurred in connection with the preparation and execution of this Agreement, or any amendment or waiver hereof,
and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.

 

Section 12.02      
Further Assurances. In connection with this Agreement and the transactions contemplated hereby, the Company and each Member hereby
agrees, at the request of the Company or any other Member, to execute and deliver such additional documents, instruments, conveyances,
and assurances and to take such further actions as may be required to carry out the provisions hereof and give effect to the transactions
contemplated hereby.

 

Section 12.03       
Confidentiality.

 

(a)           
Each Member acknowledges that during the term of this Agreement, it will have access to and become acquainted with trade secrets, proprietary
information, and confidential information belonging to the Company and its Affiliates that are not generally known to the public, including,
but not limited to, information concerning business plans, financial statements, and other information provided pursuant to this Agreement,
operating practices and methods, expansion plans, strategic plans, marketing plans, contracts, customer lists, or other business documents
that the Company treats as confidential, in any format whatsoever (including oral, written, electronic, or any other form or medium) (collectively,
"Confidential Information"). In addition, each Member acknowledges that (i) the Company has invested, and continues to
invest, substantial time, expense, and specialized knowledge in developing its Confidential Information, (ii) the Confidential Information
provides the Company with a competitive advantage over others in the marketplace, and (iii) the Company would be irreparably harmed if
the Confidential Information were disclosed to competitors or made available to the public. Without limiting the applicability of any
other agreement to which any Member is subject, no Member shall, directly or indirectly, disclose or use (other than solely for the purposes
of such Member monitoring and analyzing its investment in the Company) at any time, including, without limitation, use for personal, commercial,
or proprietary advantage or profit, either during its association with the Company or thereafter, any Confidential Information of which
such Member is or becomes aware. Each Member in possession of Confidential Information shall take all appropriate steps to safeguard such
information and to protect it against disclosure, misuse, espionage, loss, and theft.

 

 

 

    	 	33	 

     

    

 

(b)          
Nothing contained in Section 12.03(a) shall prevent any Member from disclosing Confidential
Information (i) on the order of any court or administrative agency, (ii) on the request or demand of any regulatory agency or authority
having jurisdiction over such Member, (iii) to the extent compelled by legal process or required or requested pursuant to subpoena, interrogatories,
or other discovery requests, (iv) to the extent necessary in connection with the exercise of any remedy hereunder, (v) to any other Member,
the Initial Members, or the Company, (vi) to such Member's Representatives who, in the reasonable judgment of such Member, need to know
such Confidential Information and agree to be bound by the provisions of this Section 12.03
as if a Member, or (vii) to any potential Permitted Transferee in connection with a proposed Transfer of Membership Interests from such
Member, if such potential Permitted Transferee agrees in writing to be bound by the provisions of this Section 12.03 as if a Member before
receiving such Confidential Information; provided, that in the case of clause (i), (ii), or (iii), such Member shall notify the Company
and other Members of the proposed disclosure as far in advance of such disclosure as practicable (but in no event make any such disclosure
before notifying the Company and other Members) and use reasonable efforts to ensure that any Confidential Information so disclosed is
accorded confidential treatment satisfactory to the Company, when and if available.

 

(c)           
The restrictions of Section 12.03(a) shall not apply to Confidential Information that
(i) is or becomes generally available to the public other than as a result of a disclosure by a Member in violation of this Agreement,
(ii) is or has been independently developed or conceived by such Member without use of Confidential Information, or (iii) becomes available
to such Member or any of its Representatives on a non-confidential basis from a source other than the Company, the other Members, or any
of their respective Representatives; provided, that such source is not known by the receiving Member to be bound by a confidentiality
agreement regarding the Company.

 

(d)           
The obligations of each Member under this Section 12.03 shall survive (i) the termination,
dissolution, liquidation, and winding up of the Company, (ii) the dissociation of such Member from the Company, and (iii) such Member's
Transfer of its Membership Interests.

 

 

 

    	 	34	 

     

    

 

Section 12.04        Notices. All notices, requests, consents, claims, demands, waivers, and other communications hereunder shall be in writing and shall
be deemed to have been given (a) when delivered by hand (with written confirmation of receipt), (b) when received by the addressee if
sent by a nationally recognized overnight courier (receipt requested), (c) on the date sent by facsimile or email of a PDF document (with
confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal
business hours of the recipient, or (d) on the third Business Day after the date mailed, by certified or registered mail, return receipt
requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address
for a party as shall be specified in a notice given in accordance with this Section 12.03):

 

	If to the Company:	
    Global Social Media LLC

    c/o iPower Inc.

    2399 Bateman Avenue

    Irwindale, CA 91010

    Attn: Chenlong Tan

    Email: Law.t@meetipower.com

    

	 	 
	
    If to IPW:

    

    
	
    iPower Inc.

2399 Bateman Avenue

Irwindale, CA 91010

Attn: Chenlong Tan

Email: Law.t@meetipower.com
 

	 	 
	with a copy (which shall not constitute notice) to:	Michelman & Robinson, LLP

    10880 Wilshire Boulevard, 19th floor

    Los Angeles, CA 90024

    Attention: Stephen A. Weiss, Esq.

    Tel: (424) 365-6120

    Email: sweiss@mrllp.com
	 	 
	
    If to Bro Angel:

     

     

     

    with a copy (which shall not constitute notice) to:
	
    Bro Angel LLC

    3681 San Gabriel River Pkwy.

    Pico Rivera, CA 90660

    Attn: Jie Shan

    Email: sj901017@gmail.com

    

    To be furnished.

 

 

 

    	 	35	 

     

    

 

Section 12.05        Headings. The headings in this Agreement are inserted for convenience or reference only and are in no way intended to describe, interpret,
define, or limit the scope, extent, or intent of this Agreement or any provision of this Agreement.

 

Section 12.06     
Severability. If any term or provision of this Agreement is held to be invalid, illegal, or unenforceable under Applicable Law in
any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate
or render unenforceable such term or provision in any other jurisdiction. Except as provided in Section 9.01(h),
on such determination that any term or other provision is invalid, illegal, or unenforceable, the parties hereto shall negotiate in good
faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner
in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

 

Section 12.07       Entire Agreement. This Agreement, together with the Articles of Organization and all related Exhibits and Schedules, constitutes the
sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein and therein, and supersedes
all prior and contemporaneous understandings, agreements, records, representations, and warranties, both written and oral, whether express
or implied, with respect to such subject matter.

 

Section 12.08        Successors and Assigns. Subject to the restrictions on Transfers set forth herein, this Agreement shall be binding upon and shall
inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, and permitted assigns. This
Agreement may not be assigned by any Member except as permitted by this Agreement and any assignment in violation of this Agreement shall
be null and void.

 

Section 12.09        No Third-Party Beneficiaries. Except as provided in ARTICLE IX, which shall be for
the benefit of and enforceable by Covered Persons as described therein, this Agreement is for the sole benefit of the parties hereto (and
their respective heirs, executors, administrators, successors, and permitted assigns) and nothing herein, express or implied, is intended
to or shall confer upon any other Person, including any creditor of the Company, any legal or equitable right, benefit, or remedy of any
nature whatsoever under or by reason of this Agreement.

 

Section 12.10       
Amendment. Subject to Section 7.01 and except as otherwise provided by this Agreement,
no provision of this Agreement may be amended or modified except by an instrument in writing executed by the Company and the Majority
Members. Any such written amendment or modification will be binding upon the Company and each Member.

 

Section 12.11       Waiver.
No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the
party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach, or default not
expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that
waiver. No failure to exercise, or delay in exercising, any right, remedy, power, or privilege arising from this Agreement shall operate
or be construed as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power, or privilege hereunder preclude
any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege. For the avoidance of doubt, nothing
contained in this Section 12.12 shall diminish any of the explicit
and implicit waivers described in this Agreement, including in this Agreement hereof.

 

 

 

    	 	36	 

     

    

 

Section 12.12       Governing Law. All issues and questions concerning the application, construction, validity, interpretation, and enforcement of this
Agreement shall be governed by and construed in accordance with the internal laws of the State of Nevada, without giving effect to any
choice or conflict of law provision or rule (whether of the State of Nevada or any other jurisdiction) that would cause the application
of laws of any jurisdiction other than those of the State of Nevada.

 

Section 12.13       Submission to Jurisdiction. The parties hereby agree that any suit, action, or proceeding seeking to enforce any provision of, or
based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby, whether in contract,
tort, or otherwise, shall be brought in the United States District Court for the Central District of California or, if such court does
not have subject matter jurisdiction, the courts of the State of California sitting in Los Angeles County, and any appellate court from
any thereof, and that any cause of action arising out of this Agreement shall be deemed to have arisen from a transaction of business
in the State of California. Each of the parties hereby irrevocably consents to the jurisdiction of such courts in any such suit, action,
or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying
of the venue of any such suit, action, or proceeding in any such court or that any such suit, action, or proceeding that is brought in
any such court has been brought in an inconvenient form. Service of process, summons, notice, or other document by registered mail to
the address set forth in Section 12.04 shall be effective service of process for any
suit, action, or other proceeding brought in any such court.

 

Section 12.14       
Equitable Remedies. Each party hereto acknowledges that a breach or threatened breach by such party of any of its obligations under
this Agreement would give rise to irreparable harm to the other parties, for which monetary damages would not be an adequate remedy, and
hereby agrees that in the event of a breach or a threatened breach by such party of any such obligations, each of the other parties hereto
shall, in addition to any and all other rights and remedies that may be available to them in respect of such breach, be entitled to equitable
relief, including a temporary restraining order, an injunction, specific performance, and any other relief that may be available from
a court of competent jurisdiction (without any requirement to post bond).

 

Section 12.15       
Attorneys' Fees. If any party hereto institutes any legal suit, action, or proceeding, including arbitration, against another party
in respect of a matter arising out of or relating to this Agreement, the prevailing party in the suit, action, or proceeding shall be
entitled to receive, in addition to all other damages to which it may be entitled, the costs incurred by such party in conducting the
suit, action, or proceeding, including reasonable attorneys' fees and expenses and court costs.

 

Section 12.16      
Remedies Cumulative. The rights and remedies under this Agreement are cumulative and are in addition to and not in substitution for
any other rights and remedies available at law or in equity or otherwise, except to the extent expressly provided herein to the contrary.

 

 

 

    	 	37	 

     

    

 

Section 12.17      
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email, or other means of Electronic
Transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

Section 12.18       
Spousal Consent. Each Member who has a Spouse on the date of this Agreement shall cause such Member’s Spouse to execute and
deliver to the Company a spousal consent in the form of Schedule C hereto (a “Spousal Consent”), pursuant to
which the Spouse acknowledges that he or she has read and understood the Agreement and agrees to be bound by its terms and conditions.
If any Member should marry or engage in a Marital Relationship following the date of this Agreement, such Member shall cause his or her
Spouse to execute and deliver to the Company a Spousal Consent within ten (10) Business Days/days thereof.

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	38	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers thereunto
duly authorized.

 

The Company:

 

Global Social Media LLC

a Nevada limited liability company

By: iPower Inc., as Majority Member

By: /s/ Chenlong Tan                                

Name: Chenlong Tan

Title: CEO

 

The Initial Members:

 

iPower Inc. 

a Nevada corporation

 

 

By: /s/ Chenlong Tan                                  

Chenlong Tan, CEO

 

Bro Angel LLC

a Nevada limited liability company

 

 

By: By: /s/ Jie Shan                                     

Jie Shan, Managing Member

 

 

 

 

 

 

 

 

 

 

 

 

Signature Page to Amended & Restated Limited
Liability Company Operating Agreement

of

Global Social Media LLC

    	 	 	 

     

    

 

 

SCHEDULE
A

MEMBERS SCHEDULE

	
    Member Name, Address,

    and Email
	Capital Contribution	
    Percentage/Units

     
	Membership Interest
	
    IPOWER INC.,

    a Nevada corporation

    2399 Bateman Avenue

    Irwindale, CA 91010

    Attn: Chenlong Tan
	$100,000 (minimum)	60%	6,000
	
    BRO ANGEL LLC,

    a Nevada limited liability company

    3681 San Gabriel River Pwky.

    Pico Rivera, CA 90660

    Attn: Jie Shan
	$10,000; Bro Angel License Agreement; management of Company Business  	40%	4,000
	TOTAL	 	100%	10,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	Schedule A	 

     

    

 

Schedule
B

 

FORM OF JOINDER AGREEMENT

 

Reference is made to that
certain Limited Liability Company Operating Agreement of Global Social Media LLC a Nevada limited liability company (the “Company”),
dated as of __________ __, 2022, by and between the Company and the Members thereof, as amended (as amended and restated, the “Operating
Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Operating
Agreement.

 

AS OF THE DATE SET FORTH BELOW,
pursuant to the Operating Agreement, the undersigned has acquired from [the Company][or__________ (the “Transferor”),
______percent (__%) of the issued and outstanding Membership Interests of the Company (the “Acquired Interest”).
By execution and delivery of this Operating Agreement Joinder (this “Joinder”), the undersigned, with respect
to the Acquired Interest, does hereby consent and agree to become a party to, and to be bound by, the terms, covenants and obligations
applicable to Members as set forth in the Operating Agreement, which shall be deemed incorporated by this reference as if fully set forth
herein. The undersigned further agrees that all of the Membership Interests held, whether presently or in the future, by the undersigned
are subject to the Operating Agreement. The undersigned authorizes this Agreement to be attached to the Operating Agreement and shall
execute any other or further documentation so required to perfect the adoption of the Operating Agreement contemplated herein. Pursuant
to the Operating Agreement, the undersigned with respect to the Acquired Interest, shall have all rights and shall observe all obligations
applicable to Members as set forth in the Operating Agreement. In order to give effect to the transactions contemplated hereby, in accordance
with the Operating Agreement, it is requested that the Members amend Schedule A to the Operating Agreement to reflect the undersigned’s
acquisition of the Acquired Interest.

 

IN WITNESS WHEREOF,
the undersigned has read, understood and duly executed this Agreement, the Operating Agreement and all the schedules and exhibits thereto,
effective as of this ___ day of __________, 202_ and has caused this Agreement to be duly executed.

 

 

 

	 	_____________________________
	 	 
	 	By: ____________________________
	 	Name:
	 	Title:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	Schedule B	 

     

    

 

 

Schedule
c

 

FORM OF SPOUSAL CONSENT

 

SPOUSAL CONSENT

 

I, _______________________________,
spouse of _______________________________, acknowledge that I have read the Limited Liability Company Operating Agreement, dated as _______
__, 2022, (as amended or amended and restated from time to time, the “Operating Agreement”), by and among Global Social
Media LLC, a Nevada limited liability company (the “Company”), and the Members named therein, to which this Consent
is attached as Schedule C, and that I understand the contents of the Operating Agreement. I am aware that my spouse is a party
to the Operating Agreement and the Operating Agreement contains provisions regarding the voting and transfer of Membership Interest (as
defined in the Operating Agreement) of the Company which my spouse may own, including any interest I might have therein.

 

I hereby agree that I and
any interest, including any community property interest, that I may have in any Membership Interest of the Company subject to the Operating
Agreement shall be irrevocably bound by the Operating Agreement, including any restrictions on the transfer or other disposition of any
Membership Interest or voting or other obligations as set forth in the Operating Agreement. I hereby appoint _______________________________
as my attorney-in-fact with respect to the exercise of any rights and obligations under the Operating Agreement.

 

This Consent shall be binding
on my executors, administrators, heirs, and assigns. I agree to execute and deliver such documents as may be necessary to carry out the
intent of the Operating Agreement and this Consent.

 

I am aware that the legal,
financial, and related matters contained in the Operating Agreement are complex and that I am free to seek independent professional guidance
or counsel with respect to this Consent. I have either sought such guidance or counsel or determined after reviewing the Operating Agreement
carefully that I will waive such right. I am under no disability or impairment that affects my decision to sign this Consent and I knowingly
and voluntarily intend to be legally bound by this Consent.

 

 

 

Dated as of: __________ ___, 20__

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	Schedule CExhibit 10.3

 

INTELLECTUAL PROPERTY LICENSE AGREEMENT

 

THIS INTELLECTUAL PROPERTY LICENSE AGREEMENT (“Agreement”)
is made and entered into as of the 10th day of February 2022 by and among Bro Angel LLC, a Nevada limited liability
company (“Bro Angel” or “Licensor”) and Global Social Media LLC, a Nevada limited liability
company (“GSM” or “Licensee” and together with Licensor, the “Parties”).

 

1.       BASIC TERMS

 

A.       Effective
Date: The date of execution of this Agreement by the Parties.

 

B.       Joint
Venture Agreement: means that joint venture agreement among GSM, Jie Shan, an individual (“Shan”),
Bing Luo, an individual (“Luo” and together with Shan, the owners of one hundred percent (100%) of the membership
interests of Bro Angel), and iPower Inc., a Nevada corporation (“IPW”), with executive offices at 2399 Bateman
Avenue, Duarte, CA 91010, and dated February 10, 2022.

 

C.       Licensee:
means Global Social Media LLC, a Nevada limited liability company and an affiliate of IPW and Bro Angel with offices at 2399 Bateman
Ave., Irwindale, CA 91010 (“Licensee”).

 

D.       Licensee
Business: means providing a social media platform, contents, and services to assist businesses, including IPW and other businesses,
in the marketing of their products.

 

E.       Licensor:
means the collective reference to (a) Bro Angel LLC, a Nevada limited liability company and wholly owned by Shan and Luo, with
offices at 3681 San Gabriel River Pkwy., Pico Rivera, CA, 90660 and (b) in the event and to the extent that any Licensed Intellectual
Property Rights are owned, leased or licensed by Shan and/or Luo such Person(s) shall also be deemed to be a Licensor under this Agreement.

 

F.       Licensed
Rights Granted: has the meaning as that term is defined in Section 3 of this Agreement.

 

2.       Certain
Definitions:

 

		(i)	“Licensor Intellectual Property Rights” means all Licensed Intellectual Property Rights
owned, licensed, or otherwise held by Licensor including those identified below and listed on Appendix A.

 

		(ii)	“Licensor Technology” means know-how, methods, trade secrets and other Confidential
Information held by Licensor and protected by Licensor Intellectual Licensed Intellectual Property Rights, including supply chain management.

 

		(iii)	“Improvement” means any technological development, advancement, or other innovation,
whether deliberately or unintentionally developed, created, conceived, or otherwise innovated, that (a) is protectable Licensor Intellectual
Licensed Intellectual Property Rights, (b) is based on subject matter protected by Licensor Intellectual Licensed Intellectual Property
Rights, or (c) is otherwise connected or related to the Licensor Intellectual Licensed Intellectual Property Rights.

 

		(iv)	“Licensed Intellectual Property Rights” means all industrial and other intellectual
property rights owned, licensed or otherwise used by any Licensor comprising or relating to (a) Licensor Technology; (b) Improvements,
(c) internet domain names, permits and certificates registered by any authorized private registrar or Governmental Authority, web addresses,
web pages, website and URLs; (d) works of authorship, expressions, designs and industrial design registrations, whether or not copyrightable,
including copyrights and copyrightable works, software and firmware, data, data files, and databases and other specifications and documentation;
(e) inventions, discoveries, trade secrets, business and technical information, know-how, databases, data collections, patent disclosures
and other confidential or proprietary information; and (f) all industrial and other intellectual property rights, and all rights, interests
and protections that are associated with, equivalent or similar to, or required for the exercise of, any of the foregoing, however arising,
in each case whether registered or unregistered, and including all registrations and applications for, and renewals or extensions of,
such rights or forms of protection under the Applicable Law of any jurisdiction in any part of the world.

 

 

 

    	 	1	 

     

    

 

		(v)	“Joint Improvement” means any Improvement that both Licensor and Licensee contributed
to developing, creating, conceiving, or otherwise innovating.

 

		(vi)	“Person” is to be broadly interpreted and includes an individual, a corporation, a
partnership, a joint venture, a trust, an association, an unincorporated organization, a Governmental Authority, an executor or administrator
or other legal or personal representative, or any other juridical entity.

 

		(vii)	Term: means the term and duration of the Joint Venture Agreement, and the Limited Liability Agreement
and Facility Sublease and Use Agreement, constituting Exhibits to the Joint Venture Agreement, as each of such documents may be terminated,
amended, or extended.

 

3.       Grant
of License. For good and valuable consideration each Licensor does hereby grant unto the Licensee, its successor and assigns, a non-exclusive
paid-up and royalty free right and license to make, use, sell, distribute or otherwise deal in (a) all Licensed Intellectual Property
Rights, and (b) all permits, certificates, governmental licenses and permits, domain names and other rights in connection with conducting
the Licensee Business, and (c) all Licensor Technology, in connection with the conduct of the Licensee Business within the throughout
the world during the Term of this Agreement. Licensee shall have no right to sublicense to any Person any Licensed Intellectual Property
Rights under this Agreement unless and until IPW has consented in writing, with such consent not to be unreasonably withheld, to such
Person and such sublicense and such Person has executed a sublicense agreement in form and substance reasonably acceptable to the Parties.
However, Licensee shall have the right to sublicense the rights granted under this Agreement to one or more of its subsidiaries or other
Affiliates that is engaged in the Licensee Business. In addition to, and not in lieu of the foregoing, Licensee shall have the sole and
exclusive right to apply for and obtain a trademark, tradename and style for “Bro Angel.”

 

4.       Representations
and Warranties, Limitations of Liability, Indemnity.

 

4.1       Mutual
Representations, Warranties, and Covenants. Licensee and Licensor jointly and severally represent, warrant, and covenant to the other
that at all times during the Term:

 

(a)              
Each has the full right, power, and authority to enter into and to perform this Agreement, including to grant the rights and licenses
granted under this Agreement;

 

(b)              
This Agreement constitutes a valid and legally binding obligation of the Licensee and Licensor, enforceable against the Licensee
and Licensor in accordance with its terms;

 

(c)              
Any use by Licensee of the Licensed Intellectual Property Rights as granted by Licensee under this Agreement will not violate,
misappropriate or otherwise infringe the Licensed Intellectual Property Rights or other rights of any Person;

 

(d)              
Each complies and will comply at all times with all applicable laws; and

 

(e)              
Each will to protect the Licensor’s Licensed Intellectual Property Rights from unauthorized use.

 

4.2       Licensee’s Representations, Warranties, and Covenants. Licensee represents, warrants, and covenants to Licensor that
at all times during the Term:

 

(a)              
It has the full right, power, and authority to enter into and to perform this Agreement;

 

 

 

 

    	 	2	 

     

    

 

(b)              
It will provide, grant and sublicense each of the Licensed Rights to other Persons in conformity in all material respects with
all applicable laws, consistent with industry practices, and in such a manner that will reflect positively on the business reputation
of Licensor, on the Licensed Intellectual Property Rights and the associated goodwill;

 

(c)              
This Agreement constitutes a valid and legally binding obligation of the Licensee, enforceable against the Licensee in accordance
with its terms;

 

(d)              
It and all others authorized by it to act on its behalf under this Agreement will comply at all times with all applicable laws;

 

(e)              
It will not knowingly harm the Licensed Intellectual Property Rights or bring the Licensed Intellectual Property Rights into disrepute;
and

 

(f)               
neither Licensee nor any of its owners, directors, officers, members, partners, shareholders, affiliates or employees (each a “Licensee
Party”) is named, either directly or by an alias, pseudonym or nickname, on the lists of “Specially Designated Nationals”
or “Blocked Persons” maintained by the U S Treasury Department’s Office of Foreign Assets Control currently located
at www.treas gov/offices/enforcement/ofac/, (ii) it will not, and it will cause each Licensee Party not to, take any action that would
constitute a violation of any applicable laws against corrupt business practices, against money laundering and/or against facilitating
or supporting persons or entities who conspire to commit acts of terror against any person or entity, including as prohibited by the US
Patriot Act (currently located at www.epic.org/pnvacv/terrorism/hr3162.htmll.), US Executive Order 13244 (currently located at www.treasgov/offices/enforcement/ofac/sanctions/terrorism.html)
or any similar laws, and (iii) it shall immediately notify Licensee in writing of the occurrence of any event or the development of any
circumstance that might render any of the foregoing representations and warranties in this subsection (e) false, inaccurate or misleading;

 

4.3       Licensor
Representations, Warranties, and Covenants. Each Licensor represents, warrants, and covenants to Licensee that at all times during
the Term:

 

(a)              
It or he has the full right, power, and authority to enter into and to perform this Agreement;

 

(b)              
It or he is the sole owner of the Licensed Intellectual Property Rights and has the sole right to license the Licensed Rights to
the Licensee;

 

(c)              
no other Person (other than Licensee) has any right, license or claim to such Licensed Intellectual Property Rights;

 

(d)              
This Agreement constitutes a valid and legally binding obligation of Licensor, enforceable against the it in accordance with its
terms;

 

(e)              
Licensor and all others authorized by it to act on its behalf under this Agreement will comply at all times with all applicable
laws;

 

(f)               
Neither Licensor nor any of its owners, directors, officers, members, partners, shareholders, affiliates or employees (each a “Licensor
Party”) is named, either directly or by an alias, pseudonym or nickname, on the lists of “Specially Designated Nationals”
or “Blocked Persons” maintained by the U S Treasury Department’s Office of Foreign Assets Control currently located
at www.treas gov/offices/enforcement/ofac/, (ii) it will not, and it will cause each Licensor Party not to, take any action that would
constitute a violation of any applicable laws against corrupt business practices, against money laundering and/or against facilitating
or supporting persons or entities who conspire to commit acts of terror against any person or entity, including as prohibited by the US
Patriot Act (currently located at www.epic.org/pnvacv/terrorism/hr3162.htmll.), US Executive Order 13244 (currently located at www.treasgov/offices/enforcement/ofac/sanctions/terrorism.html)
or any similar laws, and (iii) it shall immediately notify Licensee in writing of the occurrence of any event or the development of any
circumstance that might render any of the foregoing representations and warranties in this subsection (e) false, inaccurate or misleading;

 

 

 

    	 	3	 

     

    

 

4.4       Limitation
of Liability. Except for breaches the Confidentiality provision of this Agreement or a claim arising out of a Party’s gross
negligence, willful misconduct, or fraud, the Licensee shall not be liable to Licensor, and Licensor shall not be liable to the Licensee,
for any indirect, incidental, consequential, special, punitive, or exemplary losses or damage whatsoever, whether in contract, tort (including
negligence), at law or in equity, even if such losses were reasonably foreseeable or a Party had been advised of the possibility of the
other Party or Parties incurring the same. This section shall survive termination of this Agreement.

 

4.5        Defense
and Indemnity. Each of the Parties shall defend, indemnify, and hold each other and their officers, directors, stockholders, employees,
agents, attorneys, representatives, affiliates, successors and assigns (collectively, an “Indemnified Party”) harmless
from and against any and all civil or criminal demands, claims, actions, causes of action, liabilities, suits, proceedings, judgments,
investigations or inquiries (each such third-Party action, claim or proceeding, a “Claim”), and any settlement thereof,
and all related expenses, including, but not limited to, all litigation expenses, including reasonable attorneys’ fees and court
costs, and settlement amounts (collectively, “Losses”), that directly or indirectly arise out of an Indemnified Party’s
activities under this Agreement including but not limited to Claims (A) resulting from a material breach of the other Party’s (or,
where the Indemnified Party is the Licensee, the other Parties’) representations, warranties, covenants or agreements contained
herein; or (B) the gross negligence, willful misconduct, or fraud of the other Party (or, where the Indemnified Party is the Licensee,
the other Parties). This section shall survive termination of this Agreement.

 

4.6        Indemnification
Procedures. Except as otherwise provided in this Agreement, a Party entitled to indemnification hereunder (each, an “Indemnitee”)
from (or, where the Indemnified Party is the Licensee, the other Parties) (in such capacity, the “Indemnitor”) pursuant
to Section 4.5 with respect to a Claim shall (a) give written notice within a reasonable time to the Indemnitor of any such Claim with
respect to which the Indemnitee seeks indemnification (provided, however, that failure of the Indemnitee to give such notice shall not
relieve the Indemnitor from any liability which the Indemnitor may have on account of this indemnification, except to the extent that
the Indemnitor is materially prejudiced thereby), and (b) permit the Indemnitor to assume the defense of such Claim with counsel reasonably
satisfactory to the Indemnitee; provided, however, that any Indemnitee shall have the right to employ separate counsel and to participate
in the defense of such Claim, but the fees and expenses of such counsel shall be at the expense of the Indemnitee unless (i) the Indemnitor
has agreed to pay such fees or expenses, (ii) the Indemnitor shall have failed to assume the defense of such Claim and employ counsel
reasonably satisfactory to the Indemnitee or (iii) in the reasonable judgment of the Indemnitee, based upon written advice of its counsel,
a conflict of interest may exist between the Indemnitee and the Indemnitor with respect to such Claim which would prevent counsel from
adequately representing the interests of both the Indemnitee and the Indemnitor (in which case, if the Indemnitee notifies the Indemnitor
in writing that the Indemnitee elects to employ separate counsel at the expense of the Indemnitor, the Indemnitor shall not have the right
to assume the defense of such Claim on behalf of the Indemnitee and the reasonable fees and expenses of counsel for the Indemnitee shall
be paid by the Indemnitor). The Indemnitor shall not, except with the prior written consent of the Indemnitee, consent or enter into to
any settlement of any such Claim which involves the admission of liability on the part of the Indemnitee. The Indemnitee shall reasonably
cooperate with the Indemnitor in the defense of any such Claim.

 

5.       Miscellaneous.

 

(a)       Notices.
All notices, requests, consents, claims, demands, waivers, and other communications hereunder shall be in writing and shall be deemed
to have been given (a) when delivered by hand (with written confirmation of receipt), (b) when received by the addressee if sent by a
nationally recognized overnight courier (receipt requested), (c) on the date sent by facsimile or email of a PDF document (with confirmation
of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours
of the recipient, or (d) on the third Business Day after the date mailed, by certified or registered mail, return receipt requested, postage
prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address for a party as
shall be specified in a notice given in accordance with this Section 5(a)):

 

	
    If to the Licensee:

     

     

     

     

    If to Licensor:

     

     
	
    

    Chenlong Tan, CEO

    Global Social Media LLC

    2399 Bateman Ave.,

    Irwindale, CA 91010

     

    Bro Angel LLC

    3681 San Gabriel River Pkwy.

    Pico Rivera, CA 90660

    Attn: Jie Shan

     

 

 

 

 

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(b)       Headings.
The headings in this Agreement are inserted for convenience or reference only and are in no way intended to describe, interpret, define,
or limit the scope, extent, or intent of this Agreement or any provision of this Agreement.

 

(c)       Severability.
If any term or provision of this Agreement is held to be invalid, illegal, or unenforceable under Applicable Law in any jurisdiction,
such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render
unenforceable such term or provision in any other jurisdiction. On such determination that any term or other provision is invalid, illegal,
or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the
parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally
contemplated to the greatest extent possible.

 

(d)       Entire
Agreement. This Agreement and all related Schedules, constitutes the sole and entire agreement of the parties to this Agreement with
respect to the subject matter contained herein and therein, and supersedes all prior and contemporaneous understandings, agreements, records,
representations, and warranties, both written and oral, whether express or implied, with respect to such subject matter.

 

(e)       Successors
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs,
executors, administrators, successors, and permitted assigns. This Agreement may not be assigned by any party except as permitted by this
Agreement and any assignment in violation of this Agreement shall be null and void.

 

(f)       Duty
of Confidentiality. Except as specifically provided in this Agreement, each Party agrees to keep strictly confidential all Confidential
Information (as defined below) and will not, without the express written authorization of the other Parties, disclose, copy, publish,
distribute, transfer, market, use, misuse, alter or destroy any Confidential Information to any third person, firm, company, corporation,
or association for any purpose. Each Party will maintain adequate internal safeguards to protect the Confidential Information of the other
Parties, and each Party warrants and covenants to the other Parties that any consultant of such Party who gains access to Confidential
Information of the other Parties shall have executed a form of agreement pursuant to which he, she or it is bound by the non-use and non-disclosure
obligations of this Paragraph. Each Party is responsible for a breach of this Paragraph by any of its officers, directors, partners, employees,
contractors, affiliated companies, subsidiaries, agents, and consultants. Each Party further acknowledges and agrees that, if there is
any question as to whether or not information obtained by such Party from one of the other Parties constitutes Confidential Information,
such Party will confer with the applicable other Party regarding the status of the information prior to any disclosure and such Party
will not disclose such information without the express written authorization of the applicable other Party. No Party will make use of
the Confidential Information except to meet its obligations or exercise its rights under this Agreement. No Party will permit access to
the Confidential Information of the other Parties to any person, company, agency, or other entity that is not authorized in writing by
the applicable other Party to have access, observe, review, or receive the Confidential Information. The obligations imposed under this
Paragraph shall survive the termination of this Agreement. For purposes of this Agreement, “Confidential Information”
shall include (i) the terms of this Agreement, and (ii) any and all confidential and/or proprietary knowledge, data, methodology or information
constituting, arising in connection with or relating to a Party that is made available by such Party to the other Party (or Parties, as
the case may be) either prior to or after the Effective Date. Except for personally identifiable information, which shall always remain
Confidential Information, Confidential Information does not include: (i) information that has become generally known or available to the
public through publication or otherwise through no violation of this paragraph; (ii) information independently developed by a Party without
use of Confidential Information of the other Party (or Parties, as the case may be); (iii) information that a Party can demonstrate by
written records was known or in the possession of such Party prior to disclosure by the other Party (or Parties, as the case may be);
or (iv) information that a Party is required to disclose by court order provided that such Party uses all commercially reasonable efforts
to limit such disclosure and to obtain confidential treatment.

 

(g)       Assignability.
No Party may assign any of its rights under this Agreement without the prior written approval of the other Parties. Any attempted assignment
in violation of this provision will be void.

 

 

 

 

    	 	5	 

     

    

 

(h)       General.
This Agreement contains a complete statement of all arrangements between the Parties with respect to its subject matter. This Agreement
may not be changed or terminated orally and will benefit and be binding upon the Parties' respective permitted successors and assigns,
if any. Each Party represents, warrants, and covenants that it is under no legal impediment preventing it from entering into and fully
performing this Agreement. The failure of a Party to insist upon strict adherence to any term of this Agreement on any occasion will not
be construed as a waiver or limit that Party's right thereafter to insist upon strict adherence to that term or any other term of this
Agreement. All waivers must be in writing. If any provision of this Agreement is invalid or unenforceable as applied to any circumstance,
the balance of this Agreement, including that provision as applied to other circumstances, will remain in effect. The Licensee will not
be considered as, or hold itself out to be, an agent, partner or joint venturer of Licensor. The Licensee may not bind the Licensor in
any dealings with a Person, and neither the Licensee nor Licensor may bind the other in any dealings with a Person, unless they become
a party to any sublicense or license agreement. The headings on this Agreement are solely for convenience of reference and will not affect
its interpretation.

 

(i)       Amendment.
No provision of this Agreement may be amended or modified except by an instrument in writing executed by the Parties and approved by IPW.
Any such written amendment or modification will be binding upon the Parties.

 

(j)       Waiver.
No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party
so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach, or default not expressly
identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No
failure to exercise, or delay in exercising, any right, remedy, power, or privilege arising from this Agreement shall operate or be construed
as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or
further exercise thereof or the exercise of any other right, remedy, power, or privilege.

 

(k)       Governing
Law. All issues and questions concerning the application, construction, validity, interpretation, and enforcement of this Agreement
shall be governed by and construed in accordance with the internal laws of the State of Nevada, without giving effect to any choice or
conflict of law provision or rule (whether of the State of Nevada or any other jurisdiction) that would cause the application of laws
of any jurisdiction other than those of the State of Nevada.

 

(l)       Submission
to Jurisdiction. The parties hereby agree that any suit, action, or proceeding seeking to enforce any provision of, or based on any
matter arising out of or in connection with, this Agreement or the transactions contemplated hereby, whether in contract, tort, or otherwise,
shall be brought in the United States District Court for the Central District of California or, if such court does not have subject matter
jurisdiction, the courts of the State of California sitting in Los Angeles County, and any appellate court from any thereof, and that
any cause of action arising out of this Agreement shall be deemed to have arisen from a transaction of business in the State of California.
Each of the parties hereby irrevocably consents to the jurisdiction of such courts in any such suit, action, or proceeding and irrevocably
waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such
suit, action, or proceeding in any such court or that any such suit, action, or proceeding that is brought in any such court has been
brought in an inconvenient form. Service of process, summons, notice, or other document by registered mail to the address set forth herein
shall be effective service of process for any suit, action, or other proceeding brought in any such court. Each Party will be responsible
for and bear all of its own costs and expenses (including attorneys’ fees) incurred at any time in connection with pursuing, negotiating
or completing this Agreement.

 

(m)       Equitable
Remedies. Each party hereto acknowledges that a breach or threatened breach by such party of any of its obligations under this Agreement
would give rise to irreparable harm to the other parties, for which monetary damages would not be an adequate remedy, and hereby agrees
that in the event of a breach or a threatened breach by such party of any such obligations, each of the other parties hereto shall, in
addition to any and all other rights and remedies that may be available to them in respect of such breach, be entitled to equitable relief,
including a temporary restraining order, an injunction, specific performance, and any other relief that may be available from a court
of competent jurisdiction (without any requirement to post bond).

 

 

 

 

    	 	6	 

     

    

 

(n)       Attorneys’
Fees. If any party hereto institutes any legal suit, action, or proceeding, including arbitration, against another party in respect
of a matter arising out of or relating to this Agreement, the prevailing party in the suit, action, or proceeding shall be entitled to
receive, in addition to all other damages to which it may be entitled, the costs incurred by such party in conducting the suit, action,
or proceeding, including reasonable attorneys' fees and expenses and court costs.

 

(o)       Remedies
Cumulative. The rights and remedies under this Agreement are cumulative and are in addition to and not in substitution for any other
rights and remedies available at law or in equity or otherwise, except to the extent expressly provided herein to the contrary.

 

(p)       Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to
be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email, or other means of Electronic Transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

 

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers thereunto
duly authorized.

 

Licensee:

 

Global Social Media LLC

a Nevada limited liability company

By: /s/ Chenlong
Tan                

Name: Chenlong Tan

Title: Chief Executive Officer

 

Licensor:

 

Bro Angel LLC 

a Nevada limited liability company

 

 

By: /s/ Jie Shan                        

Name: Jie Shan

Title: Managing Member

 

 

 

 

 

 

 

    	 	8	 

     

    

 

APPENDIX A

 

Additional Licensed Intellectual Property Rights

 

Domain: broangel.us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	9

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