Document:

Employment Letter Agreement--Shih-Chi (SC) Lee

 Exhibit 10.14 
  

			
	ABS Computer Technologies, Inc.
	16839 E. Gale Ave City of Industry, CA 91745
	Tel: (626) 271-9700	 	Fax: (626) 271-9466

 August 11, 2005 
 Shih-Chi (SC) Lee 
 1624 Via Margarita 
 Palos Verdes, CA 90274 
 Dear Shih-Chi (SC),

 ABS Computer Technologies Inc. is pleased to offer employment to you as VP of Corporate Planning. This position is classified as a full-time
exempt position. Your start date is August 01, 2005, and your starting salary is $14,583 per month, which when annualized is $175,000 per year. 
 The company observes a 3-month introductory period. You will also be provided an executive benefits package paid in full by the company. It offers Medical, Dental, Vision Care, Life and AD&D insurance. Your benefits eligibility begins
as of your start date and the coverage is for you and your family 
 The 401K plan is available after six months of employment. All full time
employees who have completed six months of service and are at least 21 years of age are eligible for company 401K participation beginning during the next 401K open enrollment period. Company matching begins after one year of service. In order to
qualify for the company matching contribution, you must complete minimum 1,000 hours of service and be employed at the last day of the plan year. 
 We would also like to inform you that you are an “employee-at-will” and your employment is terminable at any time for any reason by either you or ABS Computer Technologies Inc. This offer is not intended to be a contract of
employment and may not be construed as such. Also, this offer is contingent upon a successful completion of your background investigation. 
 We
are looking forward to your joining our team here at ABS Computer Technologies, Inc. If you have any questions, please contact me at 626-271-9700 x22807 
 Sincerely, 
  

					
	 /s/ Nate Uchida
	  		  	Accepted: Shih-Chi (SC) Lee
	Nate Uchida	  		  	
	Executive Recruiter	  		  	
	ABS Computer Technologies, Inc.	  		  	 /s/ Shih-Chi (SC) Lee

	16839 E. Gale Ave	  		  	
	City of Industry, CA 91745	  		  	Date: 08/01/2005

 ABS 
 EMPLOYMENT AGREEMENT 
 This Agreement, dated as of 1st day of August 2005, is made by and between ABS Computer
Technologies, Inc., a California corporation (“Employer”), and Shih Chi (SC)Lee (“Employee”) in order to provide, in writing, the terms and conditions for the employment of Employee by the Employer. The
Employer and Employee may sometimes be collectively referred to herein as the “Parties” and each individually as a “Party.” 
 THEREFORE, it is agreed as follows: 
  

	1.	Terms of Employment 

 Employer agrees to employ and Employee accepts employment with Employer under the terms of this Agreement until Employee’s employment is terminated in accordance with this Agreement. 
  

	2.	Place of Employment 

 Unless the Parties agree otherwise in writing, during the term of employment Employee shall perform the services he is required to perform under this Agreement at Employer’s offices, located at 9997 E. Rose Hills Rd.; provided,
however, that Employer may from time to time require Employee to travel temporarily to other locations on Employer’s business. 
  

	3.	Duties and Authority 

  

	 	3.1	Position. Employer shall employ Employee as VP of Corporate Planning or in such other capacity or capacities as Employer may
from time to time prescribe. 

  

	 	3.2	Duties and Responsibilities. Employee shall perform all services appropriate to the position of VP of Corporate Planning as well as other
services that may be assigned by Employer. Employee shall be subject to the discretion of Employer, which shall retain full control of the means and methods by which Employee performs the above services. Employee shall be expected to travel if
necessary or advisable in order to meet the obligations of his position. 

  

	 	3.3	Reasonable Time and Effort. Employee shall devote such time, interest, and effort to the performance of duties under this Agreement as may be fairly and
reasonably necessary. 

  

	 	3.4	Outside Business Activities. During his employment, Employee shall not, without prior written consent of Employer, engage in any of the following:
(i) accept any other employment; or (ii) engage, directly or indirectly, in any other business, commercial or professional activity (whether or not pursued for pecuniary gain) that is or may be in competition with Employer, that might
create a conflict of interest with Employer, or that might otherwise interfere with the business of Employer. 

  

	 	3.5	Representations. Employee represents and warrants that (i) he is fully qualified and competent to perform the responsibilities for which he is being hired
pursuant to the terms and conditions of this Agreement; and (ii) Employee’s execution of this Agreement, his employment with Employer, and the performance of his proposed duties under this Agreement shall not violate any obligations he may
have to any former employer, other person or entity, including any obligations with respect to proprietary or confidential information of any other person or entity. 

  

	4.	Compensation 

  

	 	4.1	Salary. In consideration for the services rendered under this Agreement, Employer shall pay Employee $14,583 per month. Payable pursuant to the
regularly established practice of Employer, as may be amended. 

  

	 	4.2	Benefits. Employee shall be entitled to vacation and sick leave in accordance with Employer’s standard policies. As Employee becomes eligible therefore,
Employee shall have the right to participate in and receive benefits from all present and future benefit plans specified in Employer’s 

  

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policies and generally made available to similarly situated employees of Employer. Nothing stated in this Agreement shall prevent Employer from changing or eliminating any benefit during
Employee’s employment with Employer. All compensation to be paid to Employee under this Agreement shall be less withholdings required by law. 

  

	 	4.3	Expenses. Employer shall reimburse Employee for reasonable travel and other business expenses incurred by Employee in the performance of his duties, in
accordance with Employer’s policies, as they may be amended in Employer’s sole discretion. 

  

	5.	Termination 

  

	 	5.1	At-Will Employment 

  

	 	5.1.1	By Employee. Employee may resign, and thereby terminate this Agreement at any time, preferably upon giving two (2) weeks written notice to the Employer.

  

	 	5.1.2	By Employer. Employer may terminate Employee’s employment, and thereby terminate this Agreement, at any time. It is understood and agreed that Employee
serves at the pleasure of Employer and that his employment may be terminated at any time, with or without notice, and with or without cause, and that no reason need be given for such termination. 

  

	 	5.2	Obligations 

  

	 	5.2.1	Confidential Information. Employee agrees that all property, including, without limitation, all equipment, tangible Confidential Information, as defined in
Section 6.1 below, documents, books, records, reports, notes, contracts, lists, data and copies thereof, created in any medium and furnished to, contained by or prepared by Employee in the course of or incident to his employment, belongs to
Employer and shall be promptly returned to Employer upon termination of Employee. 

  

	 	5.2.2	Benefits. All benefits to which Employee is otherwise entitled to shall cease upon Employee’s termination, unless explicitly continued either under this
Agreement or under any specific written policy or benefit plan of Employer, or as required by law. Upon termination pursuant to Section 5.1.1 or Section 5.1.2, Employee shall be entitled to receive only such accrued benefits that may be
due and payable at the time, but he shall not be entitled to any severance pay or other compensation. 

  

	 	5.2.3	Representations and Warranties. The representations and warranties made under this Agreement in Sections 6 and 7 shall survive the termination of employment.

  

	 	5.2.4	Pending Work. Prior to termination, Employee shall fully cooperate with Employer in all matters relating to the winding up of pending work on behalf of Employer
and facilitate the orderly transfer of work to other employees. 

  

	6.	Confidential Information 

  

	 	6.1	Definition. Confidential Information is all information, past or present, in whatever form, tangible or intangible, pertaining in any manner to the relationship
between Employer and any of its former or current employees. All information not generally known outside of Employer’s organization, and any such information so known only through improper means, shall be deemed Confidential Information.
Without limiting the foregoing definition, Confidential Information shall include, but is not limited to: (i) business, marketing, and strategic plans of Employer, (ii) actions, claims or litigation against Employer, and (iii) employee
compensation information. Employee shall consult any Employer procedures instituted to identify and protect certain types of Confidential Information, which are considered by Employer to be safeguards in addition to the protection provided by this
Agreement. Nothing contained in those procedures or in this Agreement is intended to limit the effect of the other. 

  

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	 	6.2	General Restrictions on Use. During the course of employment, Employee shall use and disclose Confidential Information, only for the benefit of Employer and as
is necessary to carry out his responsibilities under this Agreement. Following termination, Employee shall neither, directly or indirectly, use or disclose any Confidential Information, except as expressly and specifically authorized in writing by
Employer. 

  

	 	6.3	Representations and Warranties. Employee represents and warranties that he shall hold, in strict confidence, all Confidential Information and shall not disclose
such information, directly or indirectly, to anyone outside of Employer, or use, copy, publish, or summarize any Confidential Information, except to the extent otherwise permitted in this Agreement. 

  

	 	6.4	Third-Party Information. Employee acknowledges that Employer has received and will receive from third parties Confidential Information subject to a duty on
Employer’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. Employee agrees that he owes Employer and such third parties, during the period of employment and thereafter, a duty to hold
all such Confidential Information in the strictest confidence and not to disclose or use it except as necessary to perform his obligations hereunder and as is consistent with Employer’s agreement with such third parties.

  

	7.	Unfair Competition 

  

	 	7.1	Unfair Competition Prohibited. Because of Employee’s employment by Employer, Employee will have access to trade secrets and confidential information about
Employer, its products, customers, and its methods of doing business. In consideration of Employee’s access to this information, Employee agrees that for a period of at most five years after termination of Employee’s employment, Employee
will not, directly or indirectly, compete with Employer in the field of Computer Technologies in the following locations: 9997 E. Rose Hills Rd. Whittier 

  

	 	7.2	Disclosure of Customer Information. In the course of Employee’s employment, Employee will have access to confidential records and data pertaining to
Employer’s customers and to the relationship between these customers and Employer’s other employees. Such information is considered secret and is disclosed to Employee in confidence. During Employee’s employment by Employer and for at
most five years after termination of that employment, Employee shall not directly or indirectly disclose or use any such information except as required in the course of Employee’s employment by Employer. 

  

	 	7.3	Solicitation of Other Employees. During at most five years after termination of Employee’s employment, Employee shall not induce or attempt to induce any
employees of Employer to discontinue representing Employer for the purpose of representing a competitor, direct or indirect, of Employer. 

  

	 	7.4	Definition. Employee understands and agrees that direct competition means design, development, production, promotion or sale of products competitive with those
of Employer. Indirect competition means employment by any competitor or third party providing products competing with Employer’s products, for whom Employee will perform the same or similar function as Employee performs for Employer under this
Agreement. 

  

	8.	Arbitration 

 Arbitrable Claim. Employee understands and agrees that he will settle any and all previously unasserted claims, disputes or controversies arising out of or relating to his application or candidacy for employment, employment and/or
cessation of employment with Employer or against any of its current and former officers, directors, employees, attorneys and agents, exclusively by final and binding arbitration before a neutral arbitrator, and that all types of relief available
pursuant to the laws under which his claim(s) arise will be available by arbitration. Employee understands that any and all claims or disputes Employer has against Employee arising from his application or candidacy for employment, employment and/or
cessation of employment will also be subject to binding arbitration. 
  

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 Employee understands and agrees that such claims include, but are not limited to, any claims
for violation of any alleged contract, express or implied; any covenant of good faith and fair dealing, whether express or implied; any tort; any federal, state, or local statute or regulation, including but not limited to the Federal Fair Labor
Standards Act, the California Labor Code and the California Industrial Welfare Commission Orders; any federal, state, or local statute or regulation based on or related to the Age Discrimination in Employment Act, the California Fair Employment and
Housing Act (Government Code sections 12900-12996); Title VII, Civil Rights Act of 1964 (42 U.S.C. sections 2000-2000(e)-1-17); the Americans with Disabilities Act; the Federal Family Medical Leave Act; and the California Family Rights Act.

 Employee understands that by signing below, he is agreeing that he will not be able to raise any of the aforementioned claims
in a court of law. In the arbitration, both parties will be permitted to conduct minimal discovery such as demands for document production and depositions, and that all disputes concerning the right to minimal discovery will be decided by the
arbitrator. The arbitrator will decide the case after hearing the parties’ evidence and preparing a written decision. 
 Employee also understands and agrees that he must request arbitration in writing within a reasonable time not to exceed one year from the date that the dispute arises, and that he agrees to contribute to the cost of the arbitration to the
same extent it would cost him to file a civil action in the county where he applied for employment and/or was employed. 
  

	9.	Notices 

 Any notice under
this Agreement must be in writing and shall be effective upon delivery by hand, upon facsimile transmission to the number provided below or three (3) business days after deposit in the United States mail, postage prepaid, certified or
registered, and addressed to Employer or to Employee at the corresponding address below. Employee shall be obligated to notify Employer in writing of any change in his address. Notice of change of address shall be effective only when done in
accordance with this Section. 
  

			
	Employer’s Notice Address:	  	Employee’s Notice Address:
		
	ABS Computer Technologies, Inc.	  	Shih-Chi (SC) Lee
	16839 E. Gale Ave	  	1624 Via Margarita
	City of Industry, CA 91745	  	Palos Verdes, CA 90274
	626-271-9700	  	
	Attn: Nate Uchida	  	Attn: Shih-Chi (SC) Lee

  

	10.	Action by Employer 

 All
actions required or permitted to be taken under this Agreement by Employer, including, without limitation, exercise of discretion, consents, waivers and amendments to this Agreement, shall be made and authorized only by the Executive Vice-President
or by his or her representative specifically authorized to fulfill these obligations under this Agreement. 
  

	11.	Entire Agreement 

 This
Agreement constitutes the entire agreement between the Parties hereto pertaining to the subject matter hereof and all prior or contemporaneous agreements, representations, negotiations and understandings of the Parties hereto, oral or written, are
hereby superseded and merged herein. 
  

	12.	Amendments; Waivers 

 This
Agreement may not be modified or amended except by an instrument in writing, signed by each of the Parties. 
  

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	13.	Assignment; Successors; and Assigns 

 Employee may not assign, sell, transfer, delegate or otherwise dispose of, any rights or obligations under this Agreement. Any such assignment, sale, transfer, delegation or other disposal shall be null
and void. Nothing in this Agreement shall prevent the consolidation of Employer with, or its merger into, any other entity, or the sale by Employer of all or substantially all of its assets, or the otherwise lawful assignment by Employer of any
rights of obligations under this Agreement. Subject to the foregoing, this Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective heirs, legal representatives, successors, and permitted assigns, and shall
not benefit any person or entity other than those specifically enumerated in this Agreement. 
  

	14.	Severability 

 If any
phrase, clause, sentence, paragraph, section, article or other portion of this Agreement shall become illegal, null, void or against public policy, for any reason, or shall be held by any court of competent jurisdiction to be illegal, null or void
or against public policy, the remaining portions of this Agreement shall not be affected thereby and shall remain in full force and effect to the fullest extent permissible by law. 
  

	15.	Attorney’s Fees 

 In
any legal action, arbitration, or other proceeding brought to enforce or interpret the terms of this Agreement, the prevailing Party shall be entitled to recover reasonable attorney’s fees and costs. 
  

	16.	Governing Law and Venue 

 This Agreement shall be governed by and construed in accordance with the laws of the State of California. Any claims or actions arising under this Agreement brought in a court of law shall be brought in a federal or state court in the
County of Los Angeles. 
  

	17.	Construction 

 This
Agreement reflects the negotiated agreement of the Parties. Accordingly, this Agreement shall be construed as if both Parties jointly prepared it, and no presumption against one Party or the other shall govern the interpretation or construction of
any of the provisions of this Agreement. 
  

	18.	Legal Representation 

 Employee acknowledges that he has had the opportunity to consult legal counsel in regard to this Agreement, that he has read and understands this Agreement, that he is fully aware of its legal effect, and that he has entered into it freely
and voluntarily and based on his own judgement and not on any representations or promises other than those contained in this Agreement. 
  
  

 -5-Investment Agreement

 Exhibit 10.15 
 Investment Agreement 
 Between 
 Shanghai Jiading Investment Zone Management Committee 
 And 
 Newegg International Investment Company 
 April 17, 2007 
 Party A:
Shanghai Jiading Industrial Zone Management Committee 
 Party B: Newegg International Investment Company 
 In accordance with the principles of mutual trust, mutual benefit and reciprocity and joint development, and through friendly consultations,
both parties have hereby made and concluded this Agreement as follows: 
 Article 1    Establishment of Company 

 

	 	I.	Party B shall register and establish a foreign-invested enterprise (hereinafter referred to as the “Project”) in the Shanghai Jiading Industrial Zone in
accordance with the relevant laws of the People’s Republic of China and the relevant rules of the city of Shanghai and the Jiading Industrial Zone. 

  

	 	II.	The Project’s total estimated investment is 75 million USD; the planned registered capital is 25 million USD. The Project’s planned
scope of business is software development, e-business, online mall, and third-party logistics. 

  

	 	III.	Party B promises to commence the relevant applications under the Project within 15 days following the execution of this agreement. 

  

	 	IV.	Party A is committed to actively assist Party B in completing formalities necessary for the registration of the Project. 

 Article 2    The Land 
  

	 	I.	The parcel of land selected for the Project is Lot No. 43, 44, and 45, Industry Innovation Center, Jiading Industrial Zone (for details, please refer to the
attached land parcel map). The total land area for the Project is approximately 70,000 square meters (equivalent to approximately 105 mu), of which the area occupied by Party B’s enterprise is approximately 64,000
square meters (equivalent to approximately 96 mu) and the area of requisitioned land is approximately 6000 square meters (equivalent to approximately 9 mu) (subject to the actual measurement taken by the land
department). 

  

	 	II.	Both Parties agree that the industrial land use rights (Green Title Certificate, 50-year land use rights) for the land parcel under the Project shall be transferred
through auction and that the auction procedures shall be conducted in accordance with the relevant rules of the state, and subject to the final result of the auction. Party A is committed to make good faith efforts to meet the demands of Party
B’s Project when drafting land parcel auction terms and conditions. 

	 	III	Planning of Land Parcel and Construction Management 

  

	 	1.	At present, the plot ratio is set at 0.8 – 2, with a building density of £ 50%, and a green space rate
of 3 20% (subject to the percentage determined by the Shanghai Urban Planning Administration Bureau and the Jiading District Planning Bureau in their formal official approval).

  

	 	2.	The buildings Party B to construct on this parcel of land consist of an office building, an auxiliary building and a logistical warehouse and factory, in which the
office building and auxiliary building and the logistical warehouse and factory each takes up 50% of the land area. 

  

	 	IV.	Upon the execution of this Agreement, Party A shall immediately proceed to prepare for the auction of the land parcel for the Project and arrange for Party B to attend
the auction of the land parcel, provided, however, that Party B pays the deposit to Party A. 

 Article
3    Obligations, Commitments, Declarations and Warranties of Party A 
  

	 	I.	In addition to the obligations and commitments explicitly stipulated elsewhere in this Agreement, Party A’s obligations and commitments under this Agreement are as
below: 

  

	 	1.	Party A shall actively assist Party B to obtain any and all government approvals, licenses, recordation, authorizations and tax benefits in relation to the proposed
investment. 

  

	 	2.	Party A warrants and represents that no third party holds or shall hold rights or any other interests in the land parcels stated herein and that no third party has
asserted any claims over the said land parcels. 

  

	 	3.	Party A shall remove any and all obstructions above or under the land parcels, including but not limited to pipes, electrical lines, timber, shrubs, and wells, at no
cost of Party B. 

  

	 	4.	Party A promises and warrants that no third party holds or shall hold rights or other interests in the government-requisitioned land and that neither the Real Estate
Administration Bureau nor the Urban Planning Administration Bureau shall or has the power to sell, rent or otherwise authorize any third party to use the government-requisitioned land parcels. Party A hereby acknowledges that it fully understands
that the warranties and representations made herein with regard to the government-requisitioned land are of critical importance to the future production and operation of Party B’s business, and therefore, in the event of any third party claims
of rights or other interests over the government-requisitioned land, Party A shall compensate Party B for any and all losses and damages, both direct and indirect, incurred by Party B as a result thereof. 

  

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	 	5.	Party A shall maintain the confidentiality of any data or information of the proposed Project that Party B provides to Party A either before or after the execution of
this Agreement. 

  

	 	6.	Upon the execution of this Agreement, Party A shall immediately suspend any discussions with any other third party, reject any offers by any other third party, and
terminate any agreements with any other third party regarding the land parcel described herein, and shall not solicit, negotiate, entertain, or accept any offer or sign any agreement with any other third party relating to this land parcel.

  

	 	7.	Party A shall continue to provide coordination and assistance to Party B to allow Party B to smoothly operate the company after its establishment.

  

	 	8.	In order to better support the development of Party B’s company, Party A agrees to accord Party B’s company relevant preferential financial treatment.

  

	 	II.	Party A warrants and represents as follows: 

  

	 	1.	Party A is empowered to, has the right to, or is authorized to sign this Agreement and perform the obligations hereunder; this Agreement confers upon Party A legal and
binding obligations, and shall be enforceable against Party A. 

  

	 	2.	The actual land area specified in the auction or land use approval document shall not differ from the estimated areas of occupied land and government-requisitioned land
stated in Article 2 (1) by ten (10)%. 

  

	 	3.	Neither the land parcels in their entirety nor any part thereof are encumbered by any rights, nor are encumbered by any rights and interests created by or conferred
under any agreement, arrangement or obligation. No one claims any interest in or holds ownership over the entire or portion of the land parcel, except that the ultimate right of ownership over the land parcels belongs to the government of China in
accordance with the Chinese Constitution. 

  

	 	III.	Obligations of Party B 

 If necessary and to the extent not creating unreasonable burden on Party B, Party B shall provide Party A with relevant documents and materials and actively handle relevant procedures. However, Party A shall only be allowed to use such
documents and materials for the purpose of assisting Party B in handling land procedures and the review and approval procedures for the other buildings, and shall strictly observe confidentiality obligations hereunder. 
  

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 Article 4    Fees and Payments 
  

	 	I.	Both parties affirm that all fees and payments described herein shall be conditioned upon the obtaining of the land parcels by Party B through auction and Party
B’s execution of an effective Contract for the Grant of Land Use Rights of State-Owned Land. 

  

	 	II.	Both parties agree that the final land fee under the Project is subject to the result of the auction, and Party A promises not to impose any additional fees
attributable to the industrial zone itself. 

  

	 	III.	Party A makes the following commitment with regard to the minimum auction price for the parcels of land: 

  

	 	1.	The minimum auction price for the parcels of land includes land grant fee and infrastructure construction cost and supporting municipal engineering fees (that is, land
development and other infrastructure construction has been completed and the parcel of land is ready for further development). 

  

	 	2.	The area occupied by Party B’s company is approximately 64,000 square meters (equivalent to 96 mu) and the minimum auction price is
224,000 yuan (RMB)/ mu. 

  

	 	3.	The area of the government-requisitioned land is approximately 6000 square meters (equivalent to 9 mu), the price of which may be separately
calculated or converted into the unit price for the area occupied by Party B’s company. The price of the government-requisitioned land shall be determined through negotiation upon further clarification of detailed land auction rules, but shall
be less than 224,000 yuan (RMB)/ mu. 

  

	 	IV.	Party A warrants and represents that, except for the payments and fees explicitly stipulated herein, government registration and filing fees, fees paid by Party B to a
third party for setting up Party B’s company, and fees arising from Party B’s performance of obligations hereunder and also pursuant to the Contract for the Grant of Land Use Rights of State-Owned Land, Party B need not and shall
not be required to pay any additional fee payments to Party A, other government agencies, or third parties for the performance of this Agreement or any obligations under the Contract for the Grant of Land Use Rights of State-Owned Land. 

 Article 5    Deposit 
  

	 	I.	Within 15 days following the date of execution of this Agreement, Party B shall pay Party A a deposit of RMB five hundred thousand yuan. Upon Party
B’s payment of the deposit, Party A shall immediately issue Party B a deposit receipt. Prior to the official auction of the land, Party A promises to transfer this deposit to the relevant government agencies of Shanghai as part of the deposit
for the official land auction. 

  

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	 	II.	Under the following circumstances, Party A shall have the right (but not the obligation) to dissolve this Agreement and confiscate the deposit:

  

	 	1.	Party B suspends performance of this Agreement without valid and justifiable reasons. 

  

	 	2.	Party B refuses to attend the auction of the land parcels without valid and justifiable reasons. 

  

	 	III.	In addition to the other rights and economic measures enjoyed by Party B herein or in accordance with the law, under the following circumstances, Party B shall have the
right (but not the obligation) to terminate this Agreement and Party A, at the request of Party B shall immediately return twice the amount of the deposit without any offset or deduction: 

  

	 	1.	During the term of this Agreement, Party A concludes any investment agreement or reaches a letter of intent, memorandum, or makes similar arrangements with any other
third party regarding the parcel of land. 

  

	 	2.	There exists any assertion or claim of rights by any person over the land parcel or the government-requisitioned land and Party A fails to settle such claims within
60 days in a manner satisfactory to Party B. 

  

	 	3.	At the time of the listing of the land parcels for auction, the actual minimum listing and auction price is higher than the minimum auction price set forth in Article 4
(3) (Fees and Payments) of this Agreement. 

  

	 	IV.	In addition to the other rights and economic measures enjoyed by Party B herein or in accordance with the law, under the following circumstances, and provided that they
are not contrary to Article 5 (3) stated herein, under the following circumstances, Party B shall have the right (but not the obligation) to terminate this agreement and Party A, at the request of Party B shall immediately return the deposit in
full without any offset or deductions: 

  

	 	1.	Within 180 days following the execution of this Agreement (or otherwise agreed by both parties in writing), the parcels of land stated herein have not been
listed for auction. 

  

	 	2.	At the time of the listing of the land parcels for auction, the final transaction price is higher than the minimum auction price set forth in Article 4 (3) (Fees
and Payments) of this Agreement, which results in Party B’s failure to obtain the said land parcels at auction. 

  

	 	3.	The actual land area specified in the auction or land use approval document differs from the estimated areas of occupied land and government-requisitioned land stated
in Article 2 (1) in this Agreement by ten (10)%. 

  

 5 

	 	4.	Party A violates any other obligation, commitment, warranties and representations under this Agreement. 

  

	 	V.	In the event that either party terminates this Agreement pursuant to Article 8 (Force Majeure) of this Agreement, Party A shall immediately return the deposit in full
to Party B without any offset or deduction. 

 Article 6    Infrastructure Construction and Supporting
Municipal Engineering 
  

	 	I.	Within 100 business days after this Agreement takes effect, Party A shall complete the dismantling and relocation, river channel reconstruction, ground leveling,
and other infrastructure constructions on the land parcels to be used by Party B. 

  

	 	II.	Party A is responsible for connecting the following supporting municipal engineering to the public network near the boundary line of Party B’s project:

  

	 	1.	After this Agreement has taken effect, Party A shall, without affecting the progress of construction or business operation of Party B’s Project, lay the running
water pipelines up to the public network near the boundary line of the land parcels used by Party B. The ultimate water volume shall be determined by Party B. Party A shall provide the required water consumption based on Party B’s demand. The
routes chosen for pipeline installation, connections, and inlets shall be planned, decided, and carried out by Party A. Party A shall make every effort to ensure that the actual connection points satisfy Party B’s demands. Ultimately, the
actual connection points are determined by the water company. Party B shall bear the cost of supporting facility and connection from the connection points near the planned boundary line. Prior to the completion of the installation of the running
water pipelines, Party A shall provide Party B with temporary water supply to meet the needs of the land parcels. Party B shall bear the direct and reasonable costs in relation to the provision of temporary water supply (including water fees,
connection and opening fees). 

  

	 	2.	After this Agreement has taken effect, Party A shall, without affecting the progress of construction or business operation of Party B’s Project, lay the sewage
pipelines up to the public network near the boundary line of the land parcels used by Party B. The ultimate discharge volume shall be determined by Party B. Party A shall provide the required pipeline network based on Party B’s demand. The
routes chosen for pipeline installation, connections, and inlets shall be planned, decided, and carried out by Party A. Party A shall make every effort to ensure that the actual connection points satisfy Party B’s demands. Ultimately, the
actual connection points are determined by the relevant department. Party B shall bear the cost of the supporting facility and connection and opening fees starting from the connection points near the planned boundary line. 

 

	 	3.	 After this Agreement has taken effect, Party A shall, without affecting the progress of construction or business operation of Party B’s Project,
install rain water pipelines up to the

  

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public network near the boundary line of the land parcels used by Party B. The routes chosen for pipeline installation, connections, and inlets shall be planned, decided, and carried out by Party
A. Party A shall make every effort to ensure that the actual connection points satisfy Party B’s demands. Ultimately, the actual connection points are determined by the relevant department. Party B shall bear the cost of the supporting facility
and connection and opening fees from the connection points near the planned boundary line. 

  

	 	4.	After this Agreement has taken effect, Party A shall, without affecting the progress of construction or business operation of Party B’s Project, lay the power
cable up to the public network near the boundary line of the land parcels used by Party B. The ultimate volume of electricity consumption shall be determined by Party B. Party A shall provide the required power consumption based on Party B’s
demands. The routes chosen for grid installation, connections, and inlets shall be planned, decided, and carried out by Party A. Party A shall make every effort to ensure that the actual connection points satisfy Party B’s demands. Ultimately,
the actual connection points are determined by the power company. Party B shall bear the cost of supporting facility and connection starting from the connection points near the planned boundary line. In the event that Party B wishes to install an
exclusive power line, Party B shall bear all direct relevant and reasonable fees. Prior to the completion of the installation of the power cable, Party A shall provide Party B with power supply to meet the needs of the land parcels. Party B shall
bear the direct and reasonable costs in relation to the provision of temporary power supply (including electricity fees, connection and opening fees) in relation to the provision of this temporary power supply. 

  

	 	5.	After this Agreement has taken effect, Party A shall, without affecting the progress of construction or business operation of Party B’s Project, install
communication pipelines up to the public network near the boundary line of the land parcels used by Party B. The ultimate volume of consumption shall be determined by Party B. Party A shall provide the required volume of power consumption based on
Party B’s demands. The routes chosen for pipeline installation, connections, and inlets shall be planned, decided, and carried out by Party A. Party A shall make every effort to ensure that the actual connection points satisfy Party B’s
demands. Ultimately, the actual connection points are determined by the telecommunications company. Party B shall bear the cost of the supporting facility and connection and opening fees from the connection points near the planned boundary line.

  

	 	6.	After this Agreement has taken effect, Party A shall, without affecting the progress of construction or business operation of Party B’s Project, install natural
gas pipelines up to the public network near the boundary line of the land parcels used by Party B. The ultimate volume of natural gas consumption shall be determined by Party B. Party A shall provide the required volume of natural gas
consumption based on Party B’s demands. The routes chosen for pipeline installation, connections, and inlets shall be planned, decided, and carried out by Party A. Party A shall make every effort to ensure that the actual connection points
satisfy Party B’s demands. Ultimately, the actual connection points are determined by the natural gas company. Party B shall bear the cost of the supporting facility and connection and opening fees from the connection points near the planned
boundary line. 

  

 7 

	 	7.	After this Agreement has taken effect, Party A shall, without affecting the progress of construction or business operation of Party B’s Project, complete the
construction of roadways along the boundary line of the land parcels used by Party B. 

  

	 	III.	Party A shall complete the infrastructure construction and supporting municipal engineering stipulated in Article 6 of this Agreement on time, and shall use reasonable
efforts, undertaken diligently and in good faith in performing its obligations in accordance with generally accepted professional standards. Party A shall ensure that the quality of construction and the materials used for infrastructure construction
and supporting municipal engineering shall meet the standards set forth in applicable laws and industry requirements. Party A shall conduct maintenance and repairs of the infrastructure construction and supporting municipal engineering to make sure
that they are in excellent condition during the term of operation of Party B’s company, and Party B shall not bear any additional fees or costs. 

 Article 7    Relevant Policies 
 In accordance
with state and local laws and regulations, Party B shall have the right to enjoy applicable tax benefits and other preferential policies. 
 Article 8    Force Majeure 
  

	 	I.	In the event that either party hereto is unable to perform any of its obligations hereunder pursuant in whole or in part due to force majeure, performance of this
obligation shall be suspended to the extent and for the period of time made necessary by such force majeure. The party claiming force majeure may reasonably postpone performance of this Agreement or terminate this Agreement as necessary by written
notice to the other party and shall not be held liable for breach of this Agreement to the other party. If any event of force majeure continues uninterrupted for a period of three (3) months from the date on which it first occurred, either
party may notify the other party in writing and terminate this Agreement. 

  

	 	II.	“Force majeure” as used in this Agreement refers to any event whose occurrence and consequences cannot be prevented, avoided, foreseen, or overcome, including
but not limited to earthquake, typhoon, fire, and war, but not including financial difficulties of any party. 

  

	 	III.	Within seven days of the occurrence of a force majeure, the affected party shall notify the other party in writing of the circumstances and details of the force
majeure, the impact of the force majeure on the performance of obligations under this Agreement, and measures taken by the affected party to reduce the impact of the force majeure to the maximum degree, and the estimated period of time the force
majeure may last. 

  

 8 

 Article 9    Liability for Breach of Agreement 
  

	 	I.	In the event that Party B fails to pay Party A the deposit on time, Party B shall pay Party A a default penalty of 0.01% of the total outstanding fees of Party B for
each day in default. 

  

	 	II.	In the event that Party A violates any provision hereunder (especially any of Party A’s warranties, commitments or representations under this Agreement in relation
to the land parcels or government-requisitioned land) and which causes Party B to suffer any direct or indirect losses, Party A shall compensate Party B for such losses in full. 

  

	 	III.	If any provision hereunder provides otherwise regarding the liability of breach, such provision shall prevail. 

  

	 	IV.	In order to avoid confusion, under the following circumstances, Party B shall not be regarded as breaching this Agreement and Party B shall not be liable to compensate
Party A for any of the losses: a) For reasons not solely attributable to Party B, Party B fails to obtain the said land parcels at auction and the Contract for the Grant of Land Use Rights of State-Owned Land cannot formally executed by both
parties, or b) Party B terminates this Agreement in accordance with Article 8 (Force Majeure) of this Agreement. 

 Article
10    Other Provisions 
  

	 	I.	As the Project progresses and based on the needs of handling relevant procedures, any matters not covered in this Agreement shall be mutually negotiated and agreed upon
by both parties in accordance with the principle of mutual understanding and cooperation and be set forth in supplemental agreements. The supplemental agreement as attachment to this Agreement, shall have the same force and effect as this Agreement.

  

	 	II.	This Agreement shall be governed by Chinese law. 

  

	 	III.	In the event of a dispute arising in the course of the performance of this Agreement, both parties shall negotiate in a fair and friendly manner. In the event that the
dispute is not resolved within sixty (60) days from the date of the first written request for negotiation, the dispute shall be submitted to the Shanghai Arbitration Commission for arbitration. 

  

	 	IV.	This Agreement shall take effect upon execution by the legal representatives or authorized representatives of both parties. 

  

	 	V.	This Agreement shall be executed in four copies with each party holding two copies respectively. 

  

 9

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