Document:

Exhibit 4.40

 

SUPPLEMENT TO TRANSITIONAL SERVICES AGREEMENT

 

This Supplement to Transitional Services Agreement (this “Supplement”), dated as of [November 4], 2020 (the “Date of Execution”), is made by and between:

 

1.             E-House (China) Enterprise Holdings Limited, formerly known as Shanghai Real Estate Sales (Group) Co., Ltd., with registered office at Room 308, 1st Floor, 1376 Jiangdong Road, Pudong New Area, Shanghai (“E-House”); and

 

2.             Each of the companies listed in the Appendix attached hereto (individually the “Leju Entity” and collectively the “Leju Entities”).

 

(Each of E-House and Leju Entities shall be hereinafter referred to individually as a “Party”, and collectively as the “Parties”.)

 

WHEREAS, the Parties have entered into a Transitional Services Agreement dated March 10, 2014 (the “Transitional Services Agreement”); and

 

WHEREAS, the Parties agree after discussions to make supplement or amendment to the Transitional Services Agreement based on the actual performance of the Transitional Services Agreement.

 

NOW, THEREFORE, the Parties agree as follows through friendly negotiations and in accordance with the principles of amicable cooperation and mutual benefit, and intend to be bound hereby:

 

Article 1                Definition

 

1.01        Unless otherwise expressly defined in this Supplement and the appendix attached hereto, the terms used in this Supplement shall have the meaning ascribed to it in the Transition Services Agreement.

 

Article 2                Service Term

 

2.01        It is agreed by the Parties to amend the “Service Term” defined in Article 1, “Definitions” of the Transition Services Agreement as follows:

 

Under the Transitional Services Agreement:

 

“Service Term”, with respect to any of the Services, shall mean the period from the date of public filing until the earliest of (i) the date of termination of such Services by the Recipient pursuant to Section 4.1 hereof, (ii) the date of termination of such Services by the Provider pursuant to Section 4.2 hereof, (iii) the date on which the E-House Member Companies as a whole become holder of less than 20% of the voting rights of the issued and outstanding shares of Leju; and (iv) the date on which E-House ceases to be the largest beneficial owner of Leju based on the issued and outstanding voting shares of Leju held by E-House and other E-House Member Companies as a whole (for the purposes of this subparagraph (iv), the Leju shares purchased by institutional investors in its ordinary course of business shall not be accounted therefor, provided that such purchase is not intended to and will not change or affect the control of Leju.)

 

1

 

It is hereby amended as follows:

 

“Service Term”, with respect to any of the Services, shall mean the period from the date of public filing until the earliest of (i) the date of termination of such Services by the Recipient pursuant to Section 4.1 hereof, (ii) the date of termination of such Services by the Provider pursuant to Section 4.2 hereof, and (iii) December 31, 2025.

 

Article 3                Miscellaneous

 

3.01        In the event of any inconsistency between this Supplement and the Transition Services Agreement, this Supplement shall prevail. Any matter not provided for in this Supplement shall be subject to the provisions of the Transition Services Agreement.

 

3.02        Each of the Parties shall have the right to make further supplement or agreement to this Supplement.

 

3.03        No change or amendment to this Supplement shall be effective unless made by the Parties in written agreement.

 

3.04        This Supplement, upon executed, shall constitute a binding agreement between the Parties. This Supplement may not be assigned by either Party without prior written consent of the other Party.

 

3.05        This Supplement may be executed in one or more counterparts, each of which will be an original and together constitute one and same agreement.

 

[No text below, signature to follow]

 

2

 

IN WITNESS WHEREOF, the Parties have caused this Supplement to be executed on the date first above written.

 

 

E-House (China) Enterprise Holdings Limited (seal)

 

/seal/ E-House (China) Enterprise Holdings Limited

 

Shanghai Sina Leju Information Technology Co., Ltd. (seal)

 

/seal/ Shanghai Sina Leju Information Technology Co., Ltd.

 

Beijing Yisheng Leju Information Services Co., Ltd. (seal)

 

/seal/ Beijing Yisheng Leju Information Services Co., Ltd.

 

Shanghai Yiyue Information Technology Co., Ltd. (seal)

 

/seal/ Shanghai Yiyue Information Technology Co., Ltd.

 

Shanghai Yixin E-commerce Co., Ltd. (seal)

 

/seal/ Shanghai Yixin E-commerce Co., Ltd.

 

3

 

IN WITNESS WHEREOF, the Parties have caused this Supplement to be executed on the date first above written.

 

 

Beijing Maiteng Fengshun Technology Co., Ltd. (seal)

 

/seal/ Beijing Maiteng Fengshun Technology Co., Ltd.

 

Beijing Jiajujiu E-commerce Co., Ltd. (seal)

 

/seal/ Beijing Jiajujiu E-commerce Co., Ltd.

 

E-House Chenxin Real Estate Brokerage (Shanghai) Co., Ltd. (seal)

 

/seal/ E-House Chenxin Real Estate Brokerage (Shanghai) Co., Ltd.

 

4

 

Appendix — List of Leju Entities

 

1.             Shanghai Sina Leju Information Technology Co., Ltd.

 

2.             Beijing Yisheng Leju Information Services Co,, Ltd.

 

3.             Shanghai Yiyue Information Technology Co., Ltd.

 

4.             Shanghai Yixin E-commerce Co., Ltd.

 

5.             Beijing Maiteng Fengshun Technology Co., Ltd.

 

6.             Beijing Jiajujiu E-commerce Co., Ltd.

 

7.             E-House Chenxin Real Estate Brokerage (Shanghai) Co., Ltd.

 

5Exhibit
10.1

 

SECOND
AMENDMENT TO OPTION AGREEMENT

 

This
Second Amendment (this “Second Amendment”) to the Option Agreement (as defined below), is made and entered
into on April 15, 2021, to be effective on August 13, 2020 (the “Effective Date”), by TORCHLIGHT
ENERGY, INC., a Texas corporation, and TORCHLIGHT HAZEL, LLC, a Texas limited liability company, whose mailing address
is 5700 W. Plano Pkwy #3600, Plano, TX 75093 and email address is john@torchlightenergy.com (collectively “Torchlight”),
MASTERSON HAZEL PARTNERS, LP, a Texas limited partnership whose mailing address is P.O. Box 1189, Midland, TX 79702 and
email address is ced@mastersonps.com (“Masterson”), and McCabe Petroleum Corporation, a Texas Corporation,
whose mailing address is 500 W. Texas Ave. Ste. 890, Midland, TX 79701 and email address is gregmccabe@aol.com (“MPC”)
collectively the “Parties”.

 

RECITALS:

 

A.       The
Parties entered into that certain Option Agreement, dated August 13, 2020.

 

B.       The
Parties entered into that certain First Amendment on September 28, 2020 (the “First Amendment”).

 

C.       Masterson
satisfied its obligations regarding the Well and the Northern Drilling Obligations, and further satisfied Torchlight’s Southern
Drilling Obligations.

 

D.       The
Notes, as defined in the First Amendment, have each been converted to Common Stock in Torchlight Energy Resources, Inc.

 

D.       The
undersigned, which constitute all of the Parties to the Option Agreement, desire to amend the Option Agreement.

 

AGREEMENT:

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the undersigned hereby agree to amend the Option Agreement as follows, effective
as of the Effective Date:

 

1.       Section
II of the Option Agreement is hereby deleted in its entirety and replaced with the following:

 

II
- Option Period

 

The
time during which Masterson may exercise the Purchase Option shall be from the Effective Date through and including September 30,
2021, (the “Option Period”), subject to the following: During the Option Period, the Purchase Price shall
increase by $500,000.00 on the first of every calendar month beginning on June 1, 2021, without proration. Provided, however,
notwithstanding anything to the contrary, the Option Period shall expire upon the occurrence of the earlier of following: (1) if
Masterson fails to, no later than 30 days prior to the date of any drilling obligation on the Hazel Prospect, deliver notice of
intent to conduct operations sufficient to satisfy such obligation; or (2) if Masterson fails to commence operations sufficient to
satisfy any drilling obligation on the Hazel Prospect 7 days prior to the deadline for satisfying the applicable drilling
obligation.

 

*
* *

	 	 
	SECOND
    AMENDMENT TO OPTION AGREEMENT	 
	-
    Page  1 -	 

     

     

    

3.       Notwithstanding
anything to the contrary contained in Section III of the Option Agreement, the Purchase Price shall be increased, pursuant to
Section II of the Option Agreement, if the Purchase Option is exercised after May 31, 2021.

 

4.       As
a condition precedent to the effectiveness of this Second Amendment, Masterson must deliver to Torchlight the sum of $1,000.00
as the fee for extending the Purchase Option.

 

5.
    Except as amended by this Second Amendment, the Option Agreement shall remain in full
force and effect, and each of the undersigned hereby restates and reaffirms all of the terms and provisions of the Option Agreement.

 

6.       This
Second Amendment may be executed in any number of counterparts (including by facsimile or other reliable electronic means), each
of which shall be considered an original.

 

[Signature
pages follow.]

	 	 
	SECOND
    AMENDMENT TO OPTION AGREEMENT	 
	-
    Page  2 -	 

     

     

    

The
Second Amendment to the Option Agreement has been executed as of the Effective Date set forth above.

	 	 
	 	TORCHLIGHT
    ENERGY, INC.

 

	 	X:	 
     /s/ John A. Brda	 

	 	Name: John
    A. Brda	 
	 	Title: CEO	 

 

	STATE OF TEXAS	§
	 	§
	COUNTY OF COLLIN	§

 

BEFORE
ME, the undersigned authority, on this day personally appeared John A. Brda, who being duly sworn, upon oath, says that he is authorized
to execute this agreement; and he acknowledged to me that he executed the same for the purposes and considerations therein expressed,
and in the capacity stated herein. SUBSCRIBED AND SWORN TO before me by the said Chief Executive Officer on this the 15th
day of April 2021, to certify which witness my hand and seal of office.

 

	 	      /s/ Anna Karlsen	 
	 	Notary
    Public	 
	 	In and For Said County and State	 
	 	 	 
	 	TORCHLIGHT HAZEL, LLC	 

 

	 	X:	 
     /s/ John A. Brda	 

	 	Name: John
    A. Brda	 
	 	Title: CEO	 

 

	STATE OF TEXAS	§
	 	§
	COUNTY OF COLLIN	§

 

BEFORE
ME, the undersigned authority, on this day personally appeared John A. Brda, who being duly sworn, upon oath, says that he is authorized
to execute this agreement; and he acknowledged to me that he executed the same for the purposes and considerations therein expressed,
and in the capacity stated herein. SUBSCRIBED AND SWORN TO before me by the said Manager on this the 15 day of April 2021, to
certify which witness my hand and seal of office.

 

	 	       /s/ Anna Karlsen	 
	 	Notary
    Public	 
	 	In and For Said County and State	 

	 	 
	SECOND
    AMENDMENT TO OPTION AGREEMENT	 
	-
    Page  3 -	 

     

     

    

	 	MASTERSON HAZEL PARTNERS, LP

 

	 	X:	   /s/
    Clifton Edwin DuBose, Jr.	 

	 	Clifton Edwin DuBose, Jr., CEO of Masterson

Hazel Management, LLC, its General Partner	 

 

	STATE OF TEXAS	§
	 	§
	COUNTY OF MIDLAND	§

  

BEFORE
ME, the undersigned authority, on this day personally appeared Clifton Edwin DuBose, Jr., who being duly sworn, upon oath, says
that he is authorized to execute this agreement; and he acknowledged to me that he executed the same for the purposes and considerations
therein expressed, and in the capacity stated herein. SUBSCRIBED AND SWORN TO before me by the said CEO on this the ____ day of
April 2021, to certify which witness my hand and seal of office.

 

	 	Notary
    Public	 
	 	In and For Said County and State	 
	 	 	 
	 	MCCABE
PETROLEUM CORPORATION	 
	 	 	 

	 	X:	   /s/
    Greg McCabe	 

	 	Name: Greg McCabe	 
	 	Title: President	 

 

	STATE OF TEXAS	§
	 	§
	COUNTY OF MIDLAND	§

 

BEFORE
ME, the undersigned authority, on this day personally appeared Greg McCabe, who being duly sworn, upon oath, says that he
is authorized to execute this agreement; and he acknowledged to me that he executed the same for the purposes and considerations
therein expressed, and in the capacity stated herein. SUBSCRIBED AND SWORN TO before me by the said President on this the ____
day of April 2021, to certify which witness my hand and seal of office.

 

	 	Notary
    Public	 
	 	In and For Said County and State	 

	 	 
	SECOND
    AMENDMENT TO OPTION AGREEMENT	 
	-
    Page  4 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]