Document:

Exhibit 10.10

 

FORM
OF

INDEMNIFICATION AGREEMENT

 

This INDEMNIFICATION
AGREEMENT (“Agreement”), dated as of September 13, 2019, is by and between Karat Packaging Inc., a Delaware
corporation (the “Company”) and [NAME OF DIRECTOR/OFFICER] (the “Indemnitee”).

 

WHEREAS, Indemnitee
is a director and/or an officer of the Company;

 

WHEREAS, both the Company
and Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and officers of public
companies;

 

WHEREAS, the board
of directors of the Company (the “Board”) has determined that enhancing the ability of the Company to retain
and attract as directors and officers the most capable persons is in the best interests of the Company and that the Company therefore
should seek to assure such persons that indemnification and insurance coverage is available; and

 

WHEREAS, in recognition
of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee’s
continued service as a director and/or an officer of the Company and to enhance Indemnitee’s ability to serve the Company
in an effective manner, and in order to provide such protection pursuant to express contract rights (intended to be enforceable
irrespective of, among other things, any amendment to the Company’s amended and restated certificate of incorporation or
bylaws (collectively, the “Constituent Documents”), any change in the composition of the Board or any change
in control or business combination transaction relating to the Company), the Company wishes to provide in this Agreement for the
indemnification of, and the advancement of Expenses (as defined in Section 1(f) below) to, Indemnitee as set forth in this Agreement
and to the extent insurance is maintained for the continued coverage of Indemnitee under the Company’s directors’ and
officers’ liability insurance policies.

 

NOW, THEREFORE, in
consideration of the foregoing and the Indemnitee’s agreement to continue to provide services to the Company, the parties
agree as follows:

 

1.           Definitions.
For purposes of this Agreement, the following terms shall have the following meanings:

 

(a)          “Beneficial
Owner” has the meaning given to the term “beneficial owner” in Rule 13d-3 under the Securities Exchange Act
of 1934, as amended (the “Exchange Act”).

 

(b)          “Change in Control” means the occurrence after the date of this Agreement of any of the following events:

 

(i)          any
Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing thirty percent (30%)
or more of the Company’s then outstanding Voting Securities, unless the change in relative Beneficial Ownership of the Company’s
securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to
vote generally in the election of directors;

 

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(ii)         the
consummation of a reorganization, merger or consolidation, unless immediately following such reorganization, merger or consolidation,
all of the Beneficial Owners of the Voting Securities of the Company immediately prior to such transaction beneficially own, directly
or indirectly, more than fifty percent (50%) of the combined voting power of the outstanding Voting Securities of the entity resulting
from such transaction;

 

(iii)        during
any period of two consecutive years, not including any period prior to the execution of this Agreement, individuals who at the
beginning of such period constituted the Board (including for this purpose any new directors whose election by the Board or nomination
for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still
in office who either were directors at the beginning of the period or whose election or nomination for election was previously
so approved) cease for any reason to constitute at least a majority of the Board; or

 

(iv)        the
stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or an agreement for the sale or
disposition by the Company of all or substantially all of the Company’s assets.

 

(c)          “Claim”
means:

 

(i)          any
threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal,
administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law; or

 

(ii)         any
inquiry, hearing or investigation that the Indemnitee determines might lead to the institution of any such action, suit, proceeding
or alternative dispute resolution mechanism.

 

(d)          “Delaware
Court” shall have the meaning ascribed to it in Section 9(e) below.

 

(e)          “Disinterested
Director” means a director of the Company who is not and was not a party to the Claim in respect of which indemnification
is sought by Indemnitee.

 

(f)          “Expenses”
means any and all expenses, including attorneys’ and experts’ fees, court costs, transcript costs, travel expenses,
duplicating, printing and binding costs, telephone charges, and all other costs and expenses incurred in connection with investigating,
defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness or participate in,
any Claim. Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Claim, including
without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond
or its equivalent, and (ii) for purposes of Section 5 only, Expenses incurred by Indemnitee in connection with the interpretation,
enforcement or defense of Indemnitee’s rights under this Agreement, by litigation or otherwise. Expenses, however, shall
not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. The parties agree
that for the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance
with this Agreement, all Expenses included in such demand that are certified by affidavit of Indemnitee’s counsel as being
reasonable shall be presumed conclusively to be reasonable.

 

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(g)          “Expense
Advance” means any payment of Expenses advanced to Indemnitee by the Company pursuant to Section 4 or Section 5 hereof.

 

(h)          “Indemnifiable
Event” means any event or occurrence, whether occurring before, on or after the date of this Agreement, related to the
fact that Indemnitee is or was a director, officer, employee or agent of the Company or any subsidiary of the Company, or is or
was serving at the request of the Company as a director, officer, employee, member, manager, trustee or agent of any other corporation,
limited liability company, partnership, joint venture, trust or other entity or enterprise (collectively with the Company, “Enterprise”)
or by reason of an action or inaction by Indemnitee in any such capacity (whether or not serving in such capacity at the time any
Loss is incurred for which indemnification can be provided under this Agreement).

 

(i)          “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
performs, nor in the past five (5) years has performed, services for either: (i) the Company or Indemnitee (other than in connection
with matters concerning Indemnitee under this Agreement or of other indemnitees under similar agreements) or (ii) any other party
to the Claim giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel”
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

(j)          “Losses”
means any and all Expenses, damages, losses, liabilities, judgments, fines, penalties (whether civil, criminal or other), ERISA
excise taxes, amounts paid or payable in settlement, including any interest, assessments, any federal, state, local or foreign
taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement and all other charges paid or payable
in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend,
be a witness or participate in, any Claim.

 

(k)          “Person”
means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association,
organization, governmental entity or other entity and includes the meaning set forth in Sections 13(d) and 14(d) of the Exchange
Act.

 

(l)          “Standard
of Conduct Determination” shall have the meaning ascribed to it in Section 9(b) below.

 

(m)          “Voting
Securities” means any securities of the Company that vote generally in the election of directors.

 

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2.          Services
to the Company. Indemnitee agrees to continue to serve as a director and/or officer of the Company for so long as Indemnitee
is duly elected or appointed or until Indemnitee tenders his or her resignation or is no longer serving in such capacity. This
Agreement shall not be deemed an employment agreement between the Company (or any of its subsidiaries or Enterprise) and Indemnitee.
Indemnitee specifically acknowledges that his or her employment with and/or service to the Company or any of its subsidiaries or
Enterprise is at will, and the Indemnitee may be discharged at any time for any reason, with or without cause, except as may be
otherwise provided in any written employment agreement between Indemnitee and the Company (or any of its subsidiaries or Enterprise),
other applicable formal severance policies duly adopted by the Board or, with respect to service as a director or officer of the
Company, by the Company’s Constituent Documents or Delaware law.

 

3.          Indemnification.
Subject to Section 9 and Section 10 of this Agreement, the Company shall indemnify Indemnitee, to the fullest extent permitted
by the laws of the State of Delaware in effect on the date hereof, or as such laws may from time to time hereafter be amended to
increase the scope of such permitted indemnification, against any and all Losses if Indemnitee was or is or becomes a party to
or participant in, or is threatened to be made a party to or participant in, any Claim by reason of or arising in part out of an
Indemnifiable Event, including, without limitation, Claims brought by or in the right of the Company, Claims brought by third parties,
and Claims in which the Indemnitee is solely a witness.

 

4.          Advancement
of Expenses. Indemnitee shall have the right to advancement by the Company, prior to the final disposition of any Claim by
final adjudication to which there are no further rights of appeal, of any and all Expenses actually and reasonably paid or incurred
by Indemnitee in connection with any Claim arising out of an Indemnifiable Event. Indemnitee’s right to such advancement
is not subject to the satisfaction of any standard of conduct. Without limiting the generality or effect of the foregoing, within
thirty (30) days after any request by Indemnitee, the Company shall, in accordance with such request, (a) pay such Expenses on
behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee
for such Expenses. In connection with any request for Expense Advances, Indemnitee shall not be required to provide any documentation
or information to the extent that the provision thereof would undermine or otherwise jeopardize attorney-client privilege. In connection
with any request for Expense Advances, Indemnitee shall execute and deliver to the Company an undertaking (which shall be accepted
without reference to Indemnitee’s ability to repay the Expense Advances) to repay any amounts paid, advanced, or reimbursed
by the Company for such Expenses to the extent that it is ultimately determined, following the final disposition of such Claim,
that Indemnitee is not entitled to indemnification hereunder. Indemnitee’s obligation to reimburse the Company for Expense
Advances shall be unsecured and no interest shall be charged thereon.

 

5.          Indemnification
for Expenses in Enforcing Rights. To the fullest extent allowable under applicable law, the Company shall also indemnify against,
and, if requested by Indemnitee, shall advance to Indemnitee subject to and in accordance with Section 4, any Expenses actually
and reasonably paid or incurred by Indemnitee in connection with any action or proceeding by Indemnitee for (a) indemnification
or reimbursement or advance payment of Expenses by the Company under any provision of this Agreement, or under any other agreement
or provision of the Constituent Documents now or hereafter in effect relating to Claims relating to Indemnifiable Events, and/or
(b) recovery under any directors’ and officers’ liability insurance policies maintained by the Company. However, in
the event that Indemnitee is ultimately determined not to be entitled to such indemnification or insurance recovery, as the case
may be, then all amounts advanced under this Section 5 shall be repaid.

 

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6.           Partial
Indemnity. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for a portion
of any Losses in respect of a Claim related to an Indemnifiable Event but not for the total amount thereof, the Company shall nevertheless
indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

 

7.           Notification
and Defense of Claims.

 

(a)          Notification
of Claims. Indemnitee shall notify the Company in writing as soon as practicable of any Claim which could relate to an Indemnifiable
Event or for which Indemnitee could seek Expense Advances, including a brief description (based upon information then available
to Indemnitee) of the nature of, and the facts underlying, such Claim. The failure by Indemnitee to timely notify the Company hereunder
shall not relieve the Company from any liability hereunder. If at the time of the receipt of such notice, the Company has directors’
and officers’ liability insurance in effect under which coverage for Claims related to Indemnifiable Events is potentially
available, the Company shall give prompt written notice to the applicable insurers in accordance with the procedures set forth
in the applicable policies. The Company shall provide to Indemnitee a copy of such notice delivered to the applicable insurers,
and copies of all subsequent correspondence between the Company and such insurers regarding the Claim, in each case substantially
concurrently with the delivery or receipt thereof by the Company.

 

(b)          Defense
of Claims. The Company shall be entitled to participate in the defense of any Claim relating to an Indemnifiable Event at its
own expense and, except as otherwise provided below, to the extent the Company so wishes, it may assume the defense thereof with
counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense
of any such Claim, the Company shall not be liable to Indemnitee under this Agreement or otherwise for any Expenses subsequently
directly incurred by Indemnitee in connection with Indemnitee’s defense of such Claim other than reasonable costs of investigation
or as otherwise provided below. Indemnitee shall have the right to employ its own legal counsel in such Claim, but all Expenses
related to such counsel incurred after notice from the Company of its assumption of the defense shall be at Indemnitee’s
own expense; provided, however, that if (i) Indemnitee’s employment of its own legal counsel has been authorized by the Company,
(ii) Indemnitee has reasonably determined that there may be a conflict of interest between Indemnitee and the Company in the defense
of such Claim, (iii) after a Change in Control, Indemnitee’s employment of its own counsel has been approved by the Independent
Counsel or (iv) the Company shall not in fact have employed counsel to assume the defense of such Claim, then Indemnitee shall
be entitled to retain its own separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of
any such Claim) and all Expenses related to such separate counsel shall be borne by the Company.

 

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8.           Procedure
upon Application for Indemnification. In order to obtain indemnification pursuant to this Agreement, Indemnitee shall submit
to the Company a written request therefor, including in such request such documentation and information as is reasonably available
to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following
the final disposition of the Claim, provided that documentation and information need not be so provided to the extent that the
provision thereof would undermine or otherwise jeopardize attorney-client privilege. Indemnification shall be made insofar as the
Company determines Indemnitee is entitled to indemnification in accordance with Section 9 below.

 

9.           Determination
of Right to Indemnification.

 

(a)           Mandatory
Indemnification; Indemnification as a Witness.

 

(i)          To
the extent that Indemnitee shall have been successful on the merits or otherwise in defense of any Claim relating to an Indemnifiable
Event or any portion thereof or in defense of any issue or matter therein, including without limitation dismissal without prejudice,
Indemnitee shall be indemnified against all Losses relating to such Claim in accordance with Section 3 to the fullest extent allowable
by law, and no Standard of Conduct Determination (as defined in Section 9(b)) shall be required.

 

(ii)         To
the extent that Indemnitee’s involvement in a Claim relating to an Indemnifiable Event is to prepare to serve and serve as
a witness, and not as a party, the Indemnitee shall be indemnified against all Losses incurred in connection therewith to the fullest
extent allowable by law and no Standard of Conduct Determination (as defined in Section 9(b)) shall be required.

 

(b)          Standard
of Conduct. To the extent that the provisions of Section 9(a) are inapplicable to a Claim related to an Indemnifiable Event
that shall have been finally disposed of, any determination of whether Indemnitee has satisfied any applicable standard of conduct
under Delaware law that is a legally required condition to indemnification of Indemnitee hereunder against Losses relating to such
Claim and any determination that Expense Advances must be repaid to the Company (a “Standard of Conduct Determination”)
shall be made as follows:

 

(i)          if
no Change in Control has occurred, (A) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board,
(B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than
a quorum or (C) if there are no such Disinterested Directors, by Independent Counsel in a written opinion addressed to the Board,
a copy of which shall be delivered to Indemnitee; and

 

(ii)         if
a Change in Control shall have occurred, (A) if the Indemnitee so requests in writing, by a majority vote of the Disinterested
Directors, even if less than a quorum of the Board or (B) otherwise, by Independent Counsel in a written opinion addressed to the
Board, a copy of which shall be delivered to Indemnitee.

 

The Company
shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance
to Indemnitee, within thirty (30) days of such request, any and all Expenses incurred by Indemnitee in cooperating with the person
or persons making such Standard of Conduct Determination.

 

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(c)          Making
the Standard of Conduct Determination. The Company shall use its reasonable best efforts to cause any Standard of Conduct Determination
required under Section 9(b) to be made as promptly as practicable. If the person or persons designated to make the Standard of
Conduct Determination under Section 9(b) shall not have made a determination within thirty (30) days after the later of (A) receipt
by the Company of a written request from Indemnitee for indemnification pursuant to Section 8 (the date of such receipt being the
 “Notification Date”) and (B) the selection of an Independent Counsel, if such determination is to be made by
Independent Counsel, then Indemnitee shall be deemed to have satisfied the applicable standard of conduct; provided that such 30-day
period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person or persons making such
determination in good faith requires such additional time to obtain or evaluate information relating thereto. Notwithstanding anything
in this Agreement to the contrary, no determination as to entitlement of Indemnitee to indemnification under this Agreement shall
be required to be made prior to the final disposition of any Claim.

 

(d)          Payment
of Indemnification. If, in regard to any Losses:

 

(i)          Indemnitee
shall be entitled to indemnification pursuant to Section 9(a);

 

(ii)         no
Standard Conduct Determination is legally required as a condition to indemnification of Indemnitee hereunder; or

 

(iii)        Indemnitee
has been determined or deemed pursuant to Section 9(b) or Section 9(c) to have satisfied the Standard of Conduct Determination,
then the Company shall pay to Indemnitee, within thirty (30) days after the later of (A) the Notification Date or (B) the earliest
date on which the applicable criterion specified in clause (i), (ii) or (iii) is satisfied, an amount equal to such Losses.

 

(e)          Selection
of Independent Counsel for Standard of Conduct Determination. If a Standard of Conduct Determination is to be made by Independent
Counsel pursuant to Section 9.1(b)(i), the Independent Counsel shall be selected by the Board of Directors, and the Company shall
give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Standard of
Conduct Determination is to be made by Independent Counsel pursuant to Section 9.1(b)(ii), the Independent Counsel shall be selected
by Indemnitee, and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so
selected. In either case, Indemnitee or the Company, as applicable, may, within ten (10) business days after receiving written
notice of selection from the other, deliver to the other a written objection to such selection; provided, however, that such objection
may be asserted only on the ground that the Independent Counsel so selected does not satisfy the criteria set forth in the definition
of “Independent Counsel” in Section 1(i), and the objection shall set forth with particularity the factual basis of
such assertion. Absent a proper and timely objection, the person or firm so selected shall act as Independent Counsel. If such
written objection is properly and timely made and substantiated, (i) the Independent Counsel so selected may not serve as Independent
Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit; and (ii) the
non-objecting party may, at its option, select an alternative Independent Counsel and give written notice to the other party advising
such other party of the identity of the alternative Independent Counsel so selected, in which case the provisions of the two immediately
preceding sentences, the introductory clause of this sentence and numbered clause (i) of this sentence shall apply to such subsequent
selection and notice. If applicable, the provisions of clause (ii) of the immediately preceding sentence shall apply to successive
alternative selections. If no Independent Counsel that is permitted under the foregoing provisions of this Section 9(e) to make
the Standard of Conduct Determination shall have been selected within sixty (60) days after the Company gives its initial notice
pursuant to the first sentence of this Section 9(e) or Indemnitee gives its initial notice pursuant to the second sentence of this
Section 9(e), as the case may be, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware
(“Delaware Court”) to resolve any objection which shall have been made by the Company or Indemnitee to the other’s
selection of Independent Counsel and/or to appoint as Independent Counsel a person to be selected by the Court or such other person
as the Court shall designate, and the person or firm with respect to whom all objections are so resolved or the person or firm
so appointed will act as Independent Counsel. In all events, the Company shall pay all of the reasonable fees and expenses of the
Independent Counsel incurred in connection with the Independent Counsel’s determination pursuant to Section 9(b).

 

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(f)           Presumptions
and Defenses.

 

(i)          Indemnitee’s
Entitlement to Indemnification. In making any Standard of Conduct Determination, the person or persons making such determination
shall presume that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification, and the Company
shall have the burden of proof to overcome that presumption and establish that Indemnitee is not so entitled. Any Standard of Conduct
Determination that is adverse to Indemnitee may be challenged by the Indemnitee in the Delaware Court. No determination by the
Company (including by its directors or any Independent Counsel) that Indemnitee has not satisfied any applicable standard of conduct
may be used as a defense to any legal proceedings brought by Indemnitee to secure indemnification or reimbursement or advance payment
of Expenses by the Company hereunder or create a presumption that Indemnitee has not met any applicable standard of conduct.

 

(ii)         Reliance
as a Safe Harbor. For purposes of this Agreement, and without creating any presumption as to a lack of good faith if the following
circumstances do not exist, Indemnitee shall be deemed to have acted in good faith and in a manner he or she reasonably believed
to be in or not opposed to the best interests of the Company if Indemnitee’s actions or omissions to act are taken in good
faith reliance upon the records of the Company, including its financial statements, or upon information, opinions, reports or statements
furnished to Indemnitee by the officers or employees of the Company or any of its subsidiaries in the course of their duties, or
by committees of the Board or by any other Person (including legal counsel, accountants and financial advisors) as to matters Indemnitee
reasonably believes are within such other Person’s professional or expert competence and who has been selected with reasonable
care by or on behalf of the Company. In addition, the knowledge and/or actions, or failures to act, of any director, officer, agent
or employee of the Company shall not be imputed to Indemnitee for purposes of determining the right to indemnity hereunder.

 

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(iii)        No
Other Presumptions. For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with
or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will not create a presumption that
Indemnitee did not meet any applicable standard of conduct or have any particular belief, or that indemnification hereunder is
otherwise not permitted.

 

(iv)        Defense
to Indemnification and Burden of Proof. It shall be a defense to any action brought by Indemnitee against the Company to enforce
this Agreement (other than an action brought to enforce a claim for Losses incurred in defending against a Claim related to an
Indemnifiable Event in advance of its final disposition) that it is not permissible under applicable law for the Company to indemnify
Indemnitee for the amount claimed. In connection with any such action or any related Standard of Conduct Determination, the burden
of proving such a defense or that the Indemnitee did not satisfy the applicable standard of conduct shall be on the Company.

 

(v)         Resolution
of Claims. The Company acknowledges that a settlement or other disposition short of final judgment may be successful on the
merits or otherwise for purposes of Section 9.1(a)(i) if it permits a party to avoid expense, delay, distraction, disruption and
uncertainty. In the event that any Claim relating to an Indemnifiable Event to which Indemnitee is a party is resolved in any manner
other than by adverse judgment against Indemnitee (including, without limitation, settlement of such action, claim or proceeding
with our without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits
or otherwise for purposes of Section 9.1(a)(i). The Company shall have the burden of proof to overcome this presumption.

 

10.          Exclusions
from Indemnification. Notwithstanding anything in this Agreement to the contrary, the Company shall not be obligated to:

 

(a)          indemnify
or advance funds to Indemnitee for Expenses or Losses with respect to proceedings initiated by Indemnitee, including any proceedings
against the Company or its directors, officers, employees or other indemnitees and not by way of defense, except:

 

(i)          proceedings
referenced in Section 5 above (unless a court of competent jurisdiction determines that each of the material assertions made by
Indemnitee in such proceeding was not made in good faith or was frivolous); or

 

(ii)         where
the Company has joined in or the Board has consented to the initiation of such proceedings.

 

(b)          indemnify
Indemnitee if a final decision by a court of competent jurisdiction determines that such indemnification is prohibited by applicable
law.

 

(c)          indemnify
Indemnitee for the disgorgement of profits arising from the purchase or sale by Indemnitee of securities of the Company in violation
of Section 16(b) of the Exchange Act, or any similar successor statute.

 

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(d)          indemnify
or advance funds to Indemnitee for Indemnitee’s reimbursement to the Company of any bonus or other incentive-based or equity-based
compensation previously received by Indemnitee or payment of any profits realized by Indemnitee from the sale of securities of
the Company, as required in each case under the Exchange Act (including any such reimbursements under Section 304 of the Sarbanes-Oxley
Act of 2002 in connection with an accounting restatement of the Company or the payment to the Company of profits arising from the
purchase or sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act).

 

11.         Settlement
of Claims. The Company shall not be liable to Indemnitee under this Agreement for any amounts paid in settlement of any threatened
or pending Claim related to an Indemnifiable Event effected without the Company’s prior written consent, which shall not
be unreasonably withheld; provided, however, that if a Change in Control has occurred, the Company shall be liable for indemnification
of the Indemnitee for amounts paid in settlement if an Independent Counsel has approved the settlement. The Company shall not settle
any Claim related to an Indemnifiable Event in any manner that would impose any Losses on the Indemnitee without the Indemnitee’s
prior written consent.

 

12.         Duration.
All agreements and obligations of the Company contained herein shall continue during the period that Indemnitee is a director or
officer of the Company (or is serving at the request of the Company as a director, officer, employee, member, trustee or agent
of another Enterprise) and shall continue thereafter (i) so long as Indemnitee may be subject to any possible Claim relating to
an Indemnifiable Event (including any rights of appeal thereto) and (ii) throughout the pendency of any proceeding (including any
rights of appeal thereto) commenced by Indemnitee to enforce or interpret his or her rights under this Agreement, even if, in either
case, he or she may have ceased to serve in such capacity at the time of any such Claim or proceeding.

 

13.         Non-Exclusivity.
The rights of Indemnitee hereunder will be in addition to any other rights Indemnitee may have under the Constituent Documents,
the General Corporation Law of the State of Delaware, any other contract or otherwise (collectively, “Other Indemnity
Provisions”); provided, however, that (a) to the extent that Indemnitee otherwise would have any greater right to indemnification
under any Other Indemnity Provision, Indemnitee will be deemed to have such greater right hereunder and (b) to the extent that
any change is made to any Other Indemnity Provision which permits any greater right to indemnification than that provided under
this Agreement as of the date hereof, Indemnitee will be deemed to have such greater right hereunder.

 

14.         Liability
Insurance. For the duration of Indemnitee’s service as a director and/or officer of the Company, and thereafter for so
long as Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially
reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to continue to
maintain in effect policies of directors’ and officers’ liability insurance providing coverage that is at least substantially
comparable in scope and amount to that provided by the Company’s current policies of directors’ and officers’
liability insurance. In all policies of directors’ and officers’ liability insurance maintained by the Company, Indemnitee
shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided to the most
favorably insured of the Company’s directors, if Indemnitee is a director, or of the Company’s officers, if Indemnitee
is an officer (and not a director) by such policy. Upon request, the Company will provide to Indemnitee copies of all directors’
and officers’ liability insurance applications, binders, policies, declarations, endorsements and other related materials.

 

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15.         No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment to Indemnitee in respect
of any Losses to the extent Indemnitee has otherwise received payment under any insurance policy, the Constituent Documents, Other
Indemnity Provisions or otherwise of the amounts otherwise indemnifiable by the Company hereunder.

 

16.         Subrogation.
In the event of payment to Indemnitee under this Agreement, the Company shall be subrogated to the extent of such payment to all
of the rights of recovery of Indemnitee. Indemnitee shall execute all papers required and shall do everything that may be necessary
to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce
such rights.

 

17.         Amendments.
No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto.
No waiver of any of the provisions of this Agreement shall be binding unless in the form of a writing signed by the party against
whom enforcement of the waiver is sought, and no such waiver shall operate as a waiver of any other provisions hereof (whether
or not similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided herein, no failure to exercise
or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof.

 

18.         Binding
Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their
respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially
all of the business and/or assets of the Company), assigns, spouses, heirs and personal and legal representatives. The Company
shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially
all or a substantial part of the business and/or assets of the Company, by written agreement in form and substances satisfactory
to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company
would be required to perform if no such succession had taken place.

 

19.         Severability.
The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any portion thereof)
are held by a court of competent jurisdiction to be invalid, illegal, void or otherwise unenforceable, and the remaining provisions
shall remain enforceable to the fullest extent permitted by law. Upon 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.

 

    	 	11	 

     

    

 

20.         Notices.
All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given
if delivered by hand, against receipt, by email, or mailed, by postage prepaid, certified or registered mail:

 

(a)          if
to Indemnitee, to the address set forth on the signature page hereto.

 

(b)          if
to the Company, to:

 

Karat Packaging Inc.

6185 Kimaball Avenue

Chino, CA 91708

Attention: Alan Yu, Chief Executive
Officer

Email: alan.yu@karatpackaging.com

 

Notice of change of
address shall be effective only when given in accordance with this Section. All notices complying with this Section shall be deemed
to have been received on the date of hand delivery or on the third business day after mailing.

 

21.         Governing
Law and Forum. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware
applicable to contracts made and to be performed in such state without giving effect to its principles of conflicts of laws. The
Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or in connection
with this Agreement shall be brought only in the Delaware Court and not in any other state or federal court in the United States,
(b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out
of or in connection with this Agreement, (c) to the extent such party is not otherwise subject to service of process in the State
of Delaware, consent to service of process by delivery thereof in accordance with Section 20 hereof, which will have the same legal
force and validity as if served upon such party personally within the State of Delaware, and (d) waive, and agree not to plead
or make, any claim that the Delaware Court lacks venue or that any such action or proceeding brought in the Delaware Court has
been brought in an improper or inconvenient forum.

 

22.         Headings.
The headings of the sections and paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction or interpretation thereof.

 

23.         Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall for all purposes be deemed to be an original, but
all of which together shall constitute one and the same Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	12	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first above written.

 

	 	KARAT PACKAGING INC.:

 

	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

	 	INDEMNITEE:

 

	 	 
	 	 
	 	Name:	 
	 	 	 
	 	Address:	 
	 	 
	 	 
	 	 
	 	 

 

	 	Email:	 

 

    	 	13Exhibit 10.11

 

PURCHASE AND SALE AGREEMENT

 

THIS PURCHASE AND
SALE AGREEMENT (this “Agreement”) is made and entered into as of the  9 day of April, 2019 (the “Effective
Date”), by and between GLOBAL WELLS INVESTMENT GROUP LLC, a Texas limited liability company (“Seller”),
and ATOSA CATERING EQUIPMENT, INC., a California corporation (“Purchaser”).

 

In consideration of
the mutual covenants and provisions herein contained and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Seller and Purchaser agree as follows:

 

ARTICLE 1

 

DESCRIPTION OF PROPERTY

 

1.1          Purchase
and Sale.

 

Seller hereby
agrees to sell, assign, and convey to Purchaser, and Purchaser agrees to purchase from Seller, in accordance with the terms
and subject to the conditions contained herein, Unit B of 3201 Capital Blvd. Condominium, a condominium project in Rockwall,
Rockwall County, Texas created under and described in the Declaration of Condominium Regime For The 3201 Capital Blvd.
Condominium recorded in ____________________ of the ___________________ Records of Rockwall County, Texas, and any amendments
thereto (the “Declaration”), together with such Unit’s undivided interest in the Common Elements defined in
and designated by the Declaration (the “Premises”), together with:

 

(a)          All
fixtures, furniture, equipment, machinery, appliances, supplies and other types and items of personal property affixed to, located
on or used in connection with the operation of the Premises (the “Personal Property”);

 

(b)          All
licenses, permits, certificates of occupancy, development rights consents and approvals (whether governmental, regulatory or otherwise)
relating to the use, operation or maintenance of the Premises including, without limitation, those described on Exhibit “A”
attached hereto and incorporated by reference herein (the “Permits”); and

 

(c)          All
intangible personal property used in connection with the Premises and the business operated thereon including, without limitation,
all plans and specifications and other architectural and engineering drawings for the Improvements, all warranties relating to
the Property, and all licenses, franchises, logos, trade names, trademarks, service marks, telephone numbers and advertising materials
(the “Intangibles”).

 

The Premises, Personal
Property, Permits and Intangibles are hereinafter sometimes collectively referred to as the “Property”.

 

     

     

    

 

ARTICLE 2

 

PURCHASE PRICE

 

2.1          Purchase
Price.

 

The total purchase
price for the Property which Purchaser agrees to pay to Seller shall be $10,055,284.00 (the “Purchase Price”).

 

2.2          Payment
of Purchase Price.

 

Purchaser shall pay
to Seller at Closing the Purchase Price, subject to adjustments and credits as set forth in this Agreement, as follows:

 

(a)          The
Earnest Money (hereinafter defined) shall be credited to the Purchase Price; and

 

(b)         The
balance of the Purchase Price shall be paid by Purchaser to Seller either by (i) wire transfer of immediately available funds or
(ii) such other method as is approved by Seller. In the event payment is made by wire transfer, sums shall be deemed paid by Purchaser
when receipt of the wire transfer is acknowledged by a financial institution designated by Seller as the recipient.

 

ARTICLE 3

 

EARNEST MONEY

 

3.1         Amount;
Terms.

 

Seller acknowledges
that Purchaser has previously deposited with Seller the sum of One Million Five Hundred Thousand and No/100 Dollars ($2,000,000.00)
(the “Earnest Money”). If the sale of the Property is consummated pursuant to the terms of this Agreement, the Earnest
Money shall be applied as a credit to Purchaser’s account for payment of the Purchase Price. If Purchaser terminates or is
deemed to terminate this Agreement in accordance with any right to terminate granted by this Agreement, or if Seller is in default
under this Agreement, $100.00 out of the Earnest Money shall be retained by Seller as independent consideration for its execution
of this Agreement, and the remainder of the Earnest Money shall be immediately returned to Purchaser, and Purchaser shall have
no further obligations hereunder.

 

ARTICLE 4

 

INSPECTION PERIOD

 

4.1          Duration.

 

Purchaser shall have
the right, subject to the terms herein, for a thirty (30) day period commencing on the Effective Date and ending at 6:00 p.m. (Houston,
Texas time) thirty (30) days thereafter (the “Inspection Period”) to enter upon the Premises to inspect and investigate
the

 

    	 	2	 

     

    

 

Property to determine whether or not the
same is satisfactory to Purchaser, in Purchaser’s sole discretion.

 

4.2          Entry
and Inspection.

 

During the Inspection
Period, Seller shall make the Property available for inspection by Purchaser, Purchaser’s employees, agents and contractors,
during normal business hours and at such other times upon reasonable notice. During the Inspection Period, Purchaser may undertake
a complete physical inspection of the Property as Purchaser deems appropriate. In addition, Purchaser shall have the right to review
any files maintained by Seller or its property manager relating to the construction, operation, leasing, maintenance and/or management
of the Property including, without limitation, appraisals, permits and approvals, rent rolls, financial and operating statements,
environmental audits, inspection reports and studies, structural engineering studies, environmental studies (including soil surveys),
Service Contracts, plans and specifications, lease files, operating agreements and bills, invoices, receipts and other records
relating to the income and expenses of the Property, and to conduct such investigations, tests, surveys and other analyses as Purchaser
determines is necessary including, without limitation, entry into or upon any space within the Premises.

 

All such inspections,
investigations and examinations shall be undertaken at Purchaser’s sole cost and expense. Seller shall have the option of
having one of Seller’s representatives present at any and all on-site inspections. After completing any inspections, Purchaser
shall restore and repair any damage caused by Purchaser’s inspections to substantially the same condition that existed immediately
prior to such inspection. Purchaser shall not be responsible for any loss, claim or damage to the Property or to any person related
to any environmental or other condition or issue which existed prior to Purchaser’s inspection or to the existence of any
hazardous materials or substances which are discovered during Purchaser’s inspection. Purchaser agrees to use commercially
reasonable efforts to not unreasonably disrupt the business operations of any of the Tenants during its inspections under this
Section 4.2.

 

Seller shall deliver
the following items to Purchaser within ten (10) days after the Effective Date (the “Due Diligence Materials”): all
information, drawings, permits, correspondence and reports relating to the Property; all boundary surveys, as-built surveys and
maps pertaining to the Property; all restrictive covenants, conditions or restrictions imposed on or benefitting the Property;
all engineering data, drawings, plan specifications, site plans and architectural renderings relating to the Property; all book
and records of any retailers association pertaining to the Property; all environmental studies, surveys, soil tests, audits, reports
and other information relating to the Property including, but not limited to, information pertaining to jurisdictional wetlands,
environmental soil conditions or subsurface conditions of the Property; a current rent roll; the Leases and Guaranties; all estoppel
certificates and subordination or non-disturbance agreements executed by any Tenant with respect to a Lease; financial operating
reports and income and expense statements for the Property for the last three (3) years; ad valorem and personal property tax bills
for the Property for the last three (3) years; all utility bills for the Property for the most recent month and the six (6) months
prior thereto; a list of onsite staff for the Property; all Service Contracts; each ALTA Owner’s Policy of Title Insurance
obtained by Seller with respect to the Premises or any part thereof; all mold or moisture reports

 

    	 	3	 

     

    

 

or plans; Seller’s policy of property
and casualty insurance applicable to the Property; and names and addresses of all consultants and engineers retained by Seller
to study the Property.

 

Seller shall make available
to Purchaser such other documentation as reasonably requested at the Property or Seller’s office. Seller shall cooperate
with Purchaser in its due diligence review and investigation of the Property and shall direct its employees, agents and management
company to cooperate with Purchaser in such review and investigation.

 

4.3          Termination
of Inspection Period.

 

Purchaser shall have
the right, for any reason and at any time during the Inspection Period (as it may be extended), to notify Seller in writing that
it has elected to terminate this Agreement and receive a return of the Earnest Money, other than $100.00 thereof, which shall be
retained by Seller as independent consideration for its execution of this Agreement.

 

ARTICLE 5

 

TITLE POLICY

 

5.1          Title.

 

Seller shall cause
Ranger Title Co. (the “Title Company”), within ten (10) days after the Effective Date, to deliver to Purchaser a commitment
of title insurance (the “Commitment”), together with copies of all title documents listed as exceptions, committing
to issue to Purchaser an Owner Policy of Title Insurance in the total amount of the Purchase Price, insuring fee simple title to
the Premises, subject only to the hereinafter defined Permitted Exceptions. Within twenty (20) days after its receipt of the Commitment,
Purchaser shall notify Seller in writing of any defects or objections to the title appearing in the Commitment (the “Title
Defects”). Within ten (10) days after receipt of Purchaser’s notice of Title Defects, Seller shall provide notice to
Purchaser of which Title Defects it elects to cure and Seller shall have until Closing to cure said Title Defects. Seller agrees
to take such actions to satisfy the all Schedule C requirements in the Commitment within its control and satisfy, pay or bond-off
at Closing from the sales proceeds amounts secured by consensual liens or deeds of trust, real estate taxes and assessments which
are due and payable (subject to proration adjustments as provided herein) and liens or judgments affecting all or any portion of
the Property (collectively, the “Mandatory Cure Items”), and the failure to do so shall constitute a material default
of Seller hereunder. If Seller fails to remedy any Title Defect that is not a Mandatory Cure Item prior to Closing, Purchaser may,
in its sole discretion, either (a) terminate this Agreement and receive return of the Earnest Money, other than $100.00 thereof,
which shall be retained by Seller as independent consideration for its execution of this Agreement or (b) waive such Title Defect
and consummate the Closing.

 

5.2          Permitted
Exceptions.

 

It is understood and
agreed that the Premises are being sold by Seller to Purchaser free and clear of all liens, claims and encumbrances, except the
hereinafter Permitted Exceptions, and it is further understood and agreed that the conveyance by General Warranty Deed to be delivered
by Seller at Closing shall be subject only to the following (“Permitted Exceptions”):

 

    	 	4	 

     

    

 

(a)          Laws,
ordinances and governmental regulations affecting the occupancy, use or enjoyment of the Premises none of which prevent its present
use;

 

(b)          All
matters shown on Schedule B of the Commitment which do not constitute Title Defects; and

 

(c)          Real
estate taxes and assessments for the year of Closing and subsequent years.

 

5.3          Later
Title Exceptions.

 

If any new matters
appear on any update to the Commitment obtained by Purchaser, then all of the provisions of Section 5.1 shall apply thereto except:
(1) the time for Purchaser to object shall be five (5) days after it receives said update; (2) the time for Seller to respond shall
be five (5) days after it receives Purchaser’s notice of any objection; and (3) the time for Purchaser to exercise its remedies
shall be five (5) days after receiving Seller’s written response. Seller must cure any later objection which is a Mandatory
Cure Item or a matter created or arising in violation of any of Seller’s obligations under this Agreement. In addition, if
any of the time periods provided for in this Section 5.4 extend beyond the Closing Date, then the Closing Date will be extended
until a date which is five (5) days after the last applicable date.

 

ARTICLE 6

 

REPRESENTATIONS, WARRANTIES AND COVENANTS
BY SELLER

 

6.1          Seller’s
Representations and Warranties.

 

Seller hereby represents
and warrants to Purchaser that the following matters are true and correct as of the Effective Date and as of the Closing Date:

 

(a)          Seller
owns good and indefeasible title to the Property, subject only to the Permitted Exceptions and those liens or encumbrances which
Seller will pay off and release at Closing.

 

(b)          The
execution, delivery and performance by Seller of this Agreement is within the authority of Seller, has been authorized by all necessary
proceedings and do not and will not contravene any provision of law, any organizational document of Seller or any written agreement
or contract to which Seller is a party.

 

(c)        There
are no judgments outstanding against Seller or petitions, suits, claims, causes of actions or moratoria or any other proceedings
pending or threatened against Seller before any court or other governmental, administrative, regulatory, adjudicatory, or arbitrational
body of any kind which, if decided adversely to Seller, would adversely affect Seller’s ability to perform its obligations
under this Agreement.

 

(d)          Upon
execution and delivery of this Agreement by Seller, this Agreement will be a valid and binding obligation of Seller, enforceable
against Seller in accordance with its terms.

 

    	 	5	 

     

    

 

(e)         There
is no pending or, to the best of Seller’s knowledge, threatened, litigation, condemnation, investigation or other legal proceeding
affecting the Property or any portion thereof, and there are no actions, suits, proceedings, orders, administrative proceedings
or investigations pending or, to the best of Seller’s knowledge, threatened, against or affecting the Property or any portion
thereof.

 

(f)          There
are no leases, licenses, occupancy agreements or other agreements giving any person the right to occupy all or any part of the
Premises.

 

(g)          There
are no service contracts or agreements pertaining to the use, operation or maintenance of the Premises.

 

(h)        To
the best of Seller’s knowledge, the Premises have not contained and do not now contain any Hazardous Materials or substances
in quantities or concentrations that require removal or remediation in accordance with applicable law. “Hazardous Material”
means any hazardous or toxic waste, substance or material, pollutant or contaminant, or words of similar import, as the same may
be defined from time to time in the Comprehensive Environmental Response Compensation and Liability Act of 1980 (42 U.S.C. Section
9601 et. seq.), as amended, or the Resource Conservation and Recovery Act (42 U.S.C. Section 6901 et. seq.), as amended, or any
other applicable federal, state or local law, ordinance, rule or regulation relating to the environment, pollutants, contamination
or similar matters. The Premises have been operated by Seller in compliance with all applicable federal, state and local laws and
regulations (“Environmental Laws”) governing Hazardous Materials; Seller has not received any notice or citation for
noncompliance with respect to any Environmental Laws relating to the Premises; no Hazardous Material has been or is currently generated,
stored, transported, utilized, disposed of, managed, treated, released or located on or from the Premises (whether or not in reportable
quantities); and there are no underground storage tanks under the Premises.

 

(i)          Seller
has received no notice of any special assessments for public improvements against the Premises, nor has any knowledge of any such
assessments that may be or are pending or threatened, including, without limitation, those for construction of sewer and water
lines or mains, street lights, streets, sidewalks and curbs. If Seller receives notice of any such assessment during the term of
this Agreement, Seller will promptly notify Purchaser of same.

 

(j)          There
are no sums due as leasing commissions or brokerage or finders fees in connection with the Premises that will become due and payable
or occur after the Closing Date.

 

(k)          All
fixtures, machinery, equipment and other articles of Personal Property attached or appurtenant to, or used in connection with,
the Property are owned by Seller, free of any liens or encumbrances.

 

(l)          No
notice of violation of any laws has been received by Seller, and Seller has no reason to believe that any such notice may or will
be issued.

 

(m)        The
Property is not a “plan asset” as defined in ERISA and the sale of the Property by Seller is not a “prohibited
transaction” under ERISA.

 

(n)         There
are no tax protest proceedings pending with respect to Property.

 

    	 	6	 

     

    

 

(o)          Seller
has not commenced nor threatened any construction defect claim against any contractor, engineer or architect with respect to the
Property.

 

(p)          No
insurance claims have been filed by Seller with respect to the Property. To the best of Seller’s knowledge, no fact or condition
exists which with the giving of notice or passage of time, or both, would give rise to Seller’s right to file a claim with
any of its insurance carriers with respect to any portion of the Property.

 

6.2         Violations.

 

Seller shall cure and
remove of record any violations noted or issued by any governmental authority prior to the Closing Date provided that the monetary
cost of removal or cure thereof does not exceed One Hundred Thousand And NO/100 Dollars ($100,000.00).

 

6.3         Survival.

 

All of the provisions of Article 6 shall
survive Closing.

 

ARTICLE 7

 

REPRESENTATIONS. WARRANTIES AND COVENANTS
BY PURCHASER

 

7.1         Purchaser’s
Representations and Warranties.

 

The execution, delivery
and performance by Purchaser of this Agreement is within the authority of Purchaser, has been authorized by all necessary proceedings
and do not and will not contravene any provision of law, Purchaser’s organizational document or any written agreement or
contract to which Purchaser is a party. There are no judgments outstanding against Purchaser or petitions, suits, claims, causes
of actions or moratoria or any other proceedings pending or threatened against Purchaser before any court or other governmental,
administrative, regulatory, adjudicatory, or arbitrational body of any kind which, if decided adversely to Purchaser, would adversely
affect Purchaser’s ability to perform its obligations under this Agreement. Upon execution and delivery by Purchaser of this
Agreement, this Agreement will be a valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with
its terms.

 

7.2         Survival.

 

All the provisions of Article 7 shall survive
Closing.

 

ARTICLE 8

 

CLOSING

 

8.1         Closing.

 

The Closing shall be
held in the offices of Title Company, at 10:00 a.m. on or before the tenth (10th) day after the expiration of the Inspection Period
(the “Closing Date”) unless the parties mutually agree in writing upon another place, time or date.

 

    	 	7	 

     

    

 

8.2          Seller’s
Obligations at Closing.

 

At Closing, Seller
shall deliver or caused to be delivered to Purchaser the following documents:

 

(a)          General
Warranty Deed (the “Deed”) in the form attached hereto as Exhibit “B”, executed and acknowledged
by Seller, conveying the Premises to Purchaser, free and clear of all encumbrances other than the Permitted Exceptions;

 

(b)          Bill
of Sale, in the form attached hereto as Exhibit “C”, executed by Seller, conveying the Personal Property
to Purchaser;

 

(c)          an
Owner’s Affidavit in the form required by Title Company to remove the standard exceptions from the Owner and Loan Title Policies,
including the “gap”, mechanics liens and parties in possession (except for Tenants in possession as tenants only pursuant
to the Leases, and which shall specifically note that such Tenants do not have any rights of first refusal or options to purchase
or renew) exceptions and Service Contracts (to the extent the Service Contracts are listed in the Commitment);

 

(d)          a
Non-Foreign Affidavit stating that Seller is not a foreign person or disregarded entity for purposes of the Internal Revenue Code;

 

(e)          possession
of the Property together with all keys;

 

(f)          all
construction plans and as-built drawings of the Premises in Seller’s possession or control;

 

(g)          a
Pro-Forma Owner Policy of Title Insurance, substantially in the form of the Commitment, containing such modifications and endorsements
as Purchaser may require, subject only to the Permitted Exceptions, and in the amount of the Purchase Price; and

 

(h)          closing
or settlement statements, and such other documents, instruments, and pay-off letters, if any, as may be required by applicable
law or as Purchaser, Purchaser’s attorney, Purchaser’s lender or Title Company may reasonably request in order to effectuate
the transaction contemplated by this Agreement.

 

8.3         Purchaser’s
Obligations at Closing.

 

At Closing, Purchaser shall deliver
to Seller the following:

 

(a)          the
Purchase Price in accordance with the provisions of Article 2; and

 

(b)          closing
or settlement statements, and such other documents or instruments as may be required by applicable law or as Seller, Seller’s
attorney or Title Company may reasonably request in order to effectuate the transaction contemplated by this Agreement.

 

    	 	8	 

     

    

 

ARTICLE 9

 

CLOSING COSTS, PRORATIONS OF RENTS,

TAXES AND MISCELLANEOUS EXPENSES

 

9.1         Closing
Costs.

 

Purchaser and Seller
shall each pay their own attorney’s fees. At Closing, (a) Purchaser and Seller shall each pay one-half of all recording costs
for the Deed, title insurance premiums for the Owner Policy of Title Insurance and any escrow fee, (b) Seller shall pay all costs
(including recording costs) associated with curing any Title Defects, and all costs (including recording costs) to payoff and release
any and all liens and (c) Purchaser shall pay all recording costs for any lender documents, all fees associated with financing
the Purchase Price, all costs associated with any mortgagee’s title policy (at simultaneous issue rates) and one-half of
any escrow fee.

 

9.2         Real
and Personal Property Taxes.

 

Real estate taxes and
assessments on the Premises and personal property taxes on the Personal Property for the year of Closing shall be prorated as of
the Closing Date. Seller shall be responsible for all real estate and personal property taxes and assessments accrued for the period
ending on the day immediately preceding the Closing Date and Purchaser shall be responsible for all such taxes and assessments
from and after the Closing Date. If the tax or assessments bills for the year of Closing have not been issued prior to Closing,
such taxes or assessments shall be prorated based upon the tax or assessment bills issued for the previous year.

 

9.3         Expenses.

 

All bills and expenses
of every nature relating to the Property, including those for labor, materials, utilities, services, and capital improvements incurred
through the day immediately preceding the Closing Date shall be paid by Seller, except for any such expenses incurred by or at
the direction of Purchaser in connection with Purchaser’s inspection of the Property, all of which expenses incurred by or
at the direction of Purchaser shall be paid by Purchaser. All expenses or costs relating to the Property incurred on or after the
Closing Date shall be paid by Purchaser.

 

9.4         Survival.

 

All of the provisions
of Article 9 shall survive Closing and the execution and delivery of the Deed.

 

    	 	9	 

     

    

 

ARTICLE 10

 

RISK OF LOSS

 

10.1        Casualty.

 

Seller assumes all
risk and liability, damage to or injury occurring to the Premises and/or Personal Property by fire, storm, accident or any other
casualty or cause until the Closing has been consummated. If the Premises and/or Personal Property or any part thereof, suffers
any damages prior to Closing from fire or other casualty, Seller shall promptly notify Purchaser of such damage. If such damage
is not material and will not take more than two (2) months to repair from the date of the casualty, then Seller shall repair such
damage, in which event the time for Closing shall be extended by the length of time reasonably necessary for Seller to complete
such repairs. If such damage is material, then Purchaser shall have the option to: (a) terminate this Agreement whereupon the Earnest
Money shall be returned to Purchaser, other man $100.00 thereof, which shall be retained by Seller as independent consideration
for its execution of this Agreement, in which event the parties shall have no further rights and liabilities hereunder except with
respect to those matters specifically surviving termination or Closing; or (b) elect to proceed to Closing whereupon Purchaser
shall have the option to either (i) require Seller to repair such damage, in which event the time for Closing shall be extended
by the length of time reasonably necessary for Seller to complete such repairs; or (ii) without Seller repairing such damage, consummate
the Closing, in which latter event the proceeds of all insurance covering such damage shall be assigned by Seller to Purchaser
at Closing and the Purchase Price shall be reduced by the amount of any deductible and co-insurance and any amounts retained by
Seller’s lender. For purposes hereof, “material” shall be deemed to mean any damage to more than three percent
(3%) of the square footage of the Premises, any damage which will cost more than three percent (3%) of the Purchase Price to replace
and/or repair or any damage which will take more than two (2) months to replace and/or repair. Seller agrees to provide to Purchaser
copies of all claims, correspondence, and damage reports and such other information as reasonably requested by Purchaser, submitted
to or received by Seller in connection with any casualty.

 

10.2        Condemnation.

 

If, prior to
Closing, any action is initiated or threatened to take a material part of the Premises by eminent domain proceedings or by
deed in lieu under threat thereof, Seller shall promptly notify Purchaser thereof, and Purchaser may either (a) terminate
this Agreement whereupon the Earnest Money shall be returned to Purchaser, other than $100.00 thereof, which shall be
retained by Seller as independent consideration for its execution of this Agreement, in which event the parties shall have no
further rights or obligations hereunder except those matters specifically surviving termination or Closing; or (b) elect to
proceed to Closing, in which latter event the award of the condemning authority shall be assigned to Purchaser at Closing and
Purchaser and the Purchase Price shall be reduced by the amount of any proceeds received by Seller or Seller’s lender.
For purposes hereof, a “material part” shall be deemed to mean (a) more than three percent (3%) of the square
footage of the Premises or the Improvements or (b) any parking or common areas in the Premises which causes the Premises to
be nonconforming as to any governmental or covenant requirement. The provisions of this

 

    	 	10	 

     

    

 

Section 10.2 shall control, and be effective
notwithstanding, the provisions of the Uniform Vendor and Purchaser Risk Act set forth in Section 5.007 of the Texas Property Code.

 

ARTICLE 11

 

DEFAULT

 

11.1       Default
by Seller.

 

If Seller is in default
or breaches the terms or provisions of this Agreement, then Purchaser shall give Seller written notice specifying the nature of
the default. Seller shall have until the earlier of the Closing Date or the date that is five (5) business days after receipt of
Purchaser’s notice of default to cure the specified default. If Seller does not cure such default within said period, and
such default is not waived in writing by Purchaser, then Purchaser, at its option, may either, as its sole and exclusive remedy,
(a) terminate this Agreement and be entitled to the immediate return of the Earnest Money, plus reimbursement of Purchaser’s
out of pocket expenses not to exceed one hundred thousand and No/100 Dollars ($100,000), (b) enforce specific performance of this
Agreement or (c) waive such default by Seller and proceed to Closing.

 

11.2       Default
by Purchaser.

 

If Purchaser is in default
or breaches the terms or provisions of this Agreement, then Seller shall give Purchaser written notice specifying the nature of
the default. Purchaser shall have until the earlier of the Closing Date or the date that is five (5) business days after receipt
of Seller’s notice of default to cure the specified default. If Purchaser does not cure such default within said period,
and such default is not waived in writing by Seller, then Seller shall be entitled to retain the Earnest Money, as liquidated damages
(and not as a penalty), as Seller’s sole remedy and relief. Seller and Purchaser have made these provisions for liquidated
damages as it would be difficult to calculate on the date hereof the amount of actual damages for such breach and agree that these
sums represent reasonable compensation to Seller for such breach.

 

ARTICLE 12

 

MISCELLANEOUS

 

12.1        Notices.

 

All notices, demands
and requests which may be given or which are required to be given by either party to the other, and any exercise of a right of
termination provided by this Agreement, shall be in writing and shall be deemed received (a) when personally delivered to the party
to receive such notice or (b) whether actually received or not, one (1) business day after deposit with a reputable overnight delivery
service such as FedEx or UPS, with delivery costs prepaid, addressed as follows:

 

	If to Seller:	Global Wells Investment Group LLC	 
	 	 	 
	 	      	 
	 	 	 

 

    	 	11	 

     

    

 

	 	Attn:	 	 
	 	 	 
	With a copy to:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	If to Purchaser:	Atosa Catering Equipment, Inc.	 
	 	 	 
	 	 	 
	 	Attn:	                            	 
	 	 	 
	With a copy to:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

12.2       Broker.

 

Each party represents
to the other party that neither it nor any of its agents, affiliates, shareholders or partners have dealt with any person or entity
that might have a claim for sales or brokerage commission or finder’s fee with respect to the transaction contemplated by
this Agreement. The parties hereto agree that each party will indemnify, hold harmless and defend the other from and against any
claim for any commission or fee by any other broker or similar person or entity claiming to have acted through the defaulting party
or its agents, affiliates, shareholders, or partners. The provisions of this Section 12.2 shall survive Closing.

 

12.3       Entire
Agreement.

 

This Agreement and
the Exhibits hereto embody the entire agreement between the parties relative to the subject matter, and there are no oral or written
agreements between the parties, nor any representations made by either party relative to the subject matter, which are not expressly
set forth herein.

 

12.4       Amendment.

 

This Agreement may
be amended only by a written instrument executed by the party or parties to be bound thereby.

 

12.5       Headings.

 

The captions and headings
used in this Agreement are for convenience only and do not in any way limit, amplify, or otherwise modify the provisions of this
Agreement.

 

    	 	12	 

     

    

 

12.6       Time
of the Essence.

 

Time is of the essence
of this Agreement. However, if the final date of any period which is set out in any provision of this Agreement falls on a Saturday,
Sunday or legal holiday under the laws of the State of Texas, in such event, the time of such period shall be extended to the next
day which is not a Saturday, Sunday or legal holiday.

 

12.7       Governing
Law.

 

This Agreement shall
be construed in accordance with and governed by the laws of the State of Texas, without reference to its choice of law principles.

 

12.8       Successors
and Assigns.

 

This Agreement shall
bind and inure to the benefit of Seller, Purchaser and their respective successors and assigns. Except (i) to an entity controlling,
controlled by or under common control with Purchaser, (ii) to an entity controlling, controlled by or under common control with
one of the principals of Purchaser, (iii) to one of the principals of Purchaser, Purchaser shall not assign, sell, convey, encumber
or otherwise transfer Purchaser’s rights under this Agreement without the prior written consent of Seller.

 

12.9       Invalid
Provision.

 

If any provision of
this Agreement is held to be illegal, invalid or unenforceable under present or future laws, such provision shall be fully severable;
this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part
of this Agreement; and, the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected
by such illegal, invalid or unenforceable provision or by its severance from this Agreement.

 

12.10     Attorneys’
Fees.

 

In the event it becomes
necessary for either party hereto to file suit to enforce this Agreement or any provision contained herein, the party prevailing
in such suit shall be entitled to recover, in addition to all other remedies or damages as herein provided, reasonable attorneys’,
paralegals’ and expert witnesses’ fees and costs incurred in such suit at trial or on appeal or in connection with
any bankruptcy or similar proceedings.

 

12.11     Multiple
Counterparts.

 

This Agreement may
be executed in a number of identical counterparts, each of which for all purposes is deemed an original, and all of which constitute
collectively one (1) agreement, but in making proof of this Agreement, it shall not be necessary to produce or account for more
than one such counterpart.

 

    	 	13	 

     

    

 

12.12     Non-Merger.

 

In addition to the
specific language of non-merger found in certain sections of this Agreement, any provision hereof which by its terms would be performed
after Closing shall survive the Closing and shall not merge in the Closing or in the Deed, except as specifically provided to the
contrary herein.

 

12.13     Confidentiality.

 

Neither Purchaser nor
Seller shall, prior to the Closing, issue any press releases or make any public statement, public announcement, or public disclosures
of any kind concerning the subject matter hereof, structure of the transactions or the status of negotiations conducted hereunder
except as may be jointly agreed to by Seller and Purchaser or as either of them may consider necessary in order to satisfy the
requirements of applicable law.

 

12.14     Operations
Pending Closing.

 

From the Effective
Date until Closing, Seller agrees to manage and operate the Premises free from waste and neglect and consistent with the ordinary
course of business and current management practices. Seller further agrees: (a) to maintain the Premises in their current condition
and repair (normal wear and tear and casualty loss excepted); (b) to maintain the existing property and casualty insurance on the
Premises; and (c) to perform timely all of its obligations under all existing Permits.

 

12.15          New
Leases and Service Contracts.

 

Except with the prior
written consent of Purchaser, Seller shall not enter into any new leases (“New Lease”) for any portion of the Premises
nor any new service, maintenance, or other contract (“New Contract”) with respect to the Property. A draft of each
New Lease or New Contract proposed to be entered into by Seller after the Effective Date will be submitted to Purchaser for its
approval prior to execution by Seller, which approval shall not be unreasonably withheld, conditioned or delayed. Purchaser shall
notify Seller in writing within five (5) business days after its receipt of each such proposed New Lease or New Contract of either
its approval or disapproval thereof. In the event Purchaser informs Seller that Purchaser does not approve any such proposed New
Lease or New Contract. Seller shall not enter into such New Lease or New Contract. In the event Purchaser fails to notify Seller
in writing of its approval or disapproval of any such proposed New Lease or New Contract within such five (5) business day time
period, such failure shall be deemed the approval by Purchaser of such New Lease or New Contract. In the event Purchaser approves
any New Lease, Seller shall deliver to Purchaser an Estoppel Certificate from the Tenant(s) thereunder as required hereunder for
Leases and otherwise shall comply, as to each such New Lease, with the terms of this Agreement relating to Leases. Further, except
with the prior written consent of Purchaser, which consent shall not be unreasonably withheld, delayed or conditioned, Seller shall
not extend, terminate, accept surrender of, or permit any assignments or subleases of, any of the Leases, nor accept any rental
thereunder more than one (1) month in advance.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	14	 

     

    

 

IN WITNESS WHEREOF,
Purchaser and Seller have executed this Agreement as of the Effective Date.

 

	 	GLOBAL WELLS INVESTMENT GROUP LLC
	 	 
	 	By:   	/s/ Alan Yu
	 	 	Name:  	Alan Yu
	 	 	Title:	Manager
	 	 	 	 
	 	 	 	 
	 	ATOSA CATERING EQUIPMENT, INC.
	 	 
	 	 
	 	By:   	/s/ Xuxian Shao
	 	 	Name:  	Xuxian Shao
	 	 	Title:	President

 

 

 

 

 

[Signature page to Purchase and Sale
Agreement]

 

    	 	15	 

     

    

 

EXHIBIT “A”

 

PERMITS

 

 

 

 

 

[TO COME]

 

    

     

    

 

EXHIBIT “B”

 

DEED

 

NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU
ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST
IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER’S LICENSE
NUMBER.

 

GENERAL WARRANTY DEED

 

	THE STATE OF TEXAS	§
	 	§    KNOW ALL PERSONS BY THESE PRESENTS:
	COUNTY OF ROCKWALL      	§

 

THAT GLOBAL
WELLS INVESTMENT GROUP, LLC, a Texas limited liability company (herein referred to as “Grantor”),
for and in consideration of the sum of Ten Dollars ($10.00) in hand paid to Grantor by ATOSA CATERING EQUIPMENT, INC.,
a California corporation (herein referred to as “Grantee”), and other good and valuable consideration,
the receipt and sufficiency of which consideration are hereby acknowledged, has GRANTED, SOLD and CONVEYED and by these
presents does GRANT, SELL and CONVEY unto Grantee Unit B of 3201 Capital Blvd. Condominium, a condominium project in
Rockwall, Rockwall County, Texas created under and described in the Declaration of Condominium Regime For The 3201 Capital
Blvd. Condominium recorded in  _________________ of the _________________ Records of Rockwall County, Texas, and any
amendments thereto (the “Declaration”), together with such Unit’s undivided interest in the Common Elements
defined in and designated by the Declaration (the “Property”).

 

This conveyance is
made by Grantor and accepted by Grantee expressly subject to those matters more particularly described on Exhibit A attached
hereto and incorporated herein for all purposes (the “Permitted Exceptions”), to the extent, but only to the
extent, the same are valid and subsisting and affect the Property.

 

TO HAVE AND TO HOLD
the Property, together with all and singular the rights and appurtenances thereto in anywise belonging, unto Grantee, its successors
and assigns forever; and subject to the above described Permitted Exceptions, Grantor does hereby bind itself and its successors,
to WARRANT AND FOREVER DEFEND all and singular the Property unto Grantee, its successors and assigns, against every person whomsoever
lawfully claiming or to claim the same or any part thereof.

 

Real estate ad valorem
taxes against the Property for the year 2019 have been prorated between Grantor and Grantee as of the date hereof and Grantee assumes
the obligation to pay all of such taxes for such year.

 

[Signature Page to Follow.]

 

    

     

    

 

EXECUTED to be effective as of April 9,
2019.

 

 

	 	GLOBAL WELLS INVESTMENT GROUP LLC
	 	 
	 	 
	 	By:   	/s/ Alan Yu
	 	 	Name:  	Alan Yu
	 	 	Title:  	Manager

 

 

	THE STATE OF California	§
	 	§
	COUNTY OF San Bernardino      	§

 

This instrument was
acknowledged before me on April 9, 2019, by Patti San, Alan Yu of GLOBAL WELLS INVESTMENT GROUP LLC, a Texas limited liability
company, on behalf of said limited liability company.

 

 

		 	 
	/s/ Patti Q. San
	Notary Public in and for	 
	The State of California	 
	My commission expires:  	12/6/2022

 

 

    	 	2	 

     

    

 

EXHIBIT A

TO GENERAL WARRANTY DEED

Permitted Exceptions

 

[TO COME]

 

    	 	3	 

     

    

 

EXHIBIT “C”

 

BILL OF SALE

 

GLOBAL
WELLS INVESTMENT GROUP LLC., a Texas limited liability company (“Grantor”), and ATOSA CATERING EQUIPMENT,
INC., a California corporation (“Grantee”), are parties to that certain Purchase and Sale Agreement (the
 “PSA”) dated 4/9, 2019. The PSA relates to the sale to Grantor of the Land and Improvements defined therein.
Capitalized terms used herein but not defined herein shall have the respective meanings given thereto in the PSA.

 

Grantor
hereby conveys to Grantee the Personal Property, Permits and Intangibles (collectively, the “Transferred Items”).

 

TO
HAVE AND TO HOLD the Transferred Items, unto Grantee, its successors and assigns, forever, and Grantor does hereby bind itself
and its successors to WARRANT and FOREVER DEFEND title to the Transferred Items unto Grantee, its successors and assigns, against
the lawful claims of any and all persons lawfully claiming or to claim the same or any part thereof.

 

IN
WITNESS WHEREOF, Grantor has executed this Bill of Sale and Assignment to be effective as of the 9 day of April, 2019.

 

 

	 	GLOBAL WELLS INVESTMENT GROUP LLC
	 	 
	 	 
	 	By:   	/s/ Alan Yu
	 	 	Name:  	Alan Yu
	 	 	Title:   	Manager

 

    	 	1	 

     

    

 

EXHIBIT “D”

 

ASSIGNMENT AND ASSUMPTION OF PERMITS
AND INTANGIBLES

 

THIS ASSIGNMENT AND
ASSUMPTION OF PERMITS AND INTANGIBLES (this “Assignment”) is entered into as of the 9 day of April,
2019, by and between GLOBAL WELLS INVESTMENT GROUP LLC, a Texas limited liability company (“Assignor”),
and ATOSA CATERING EQUIPMENT, INC., a California corporation (“Assignee”), who hereby agree as
follows:

 

1.          Property.
The “Property” means the real property located in Rockwall County, Texas described on Exhibit A
attached hereto, together with all buildings, structures and other improvements located thereon.

 

2.          Permits.
 “Permits” means all of Assignor’s right, title and interest, if any, in and to all assignable
licenses, permits, certificates of occupancy, consents, and approvals whether governmental or otherwise, relating to the use,
operation, or maintenance of the Premises, as more particularly described on Exhibit B hereto.

 

3.          Intangibles.
 “Intangibles” means all intangible personal property owned by assignor and used in connection with the
property and the business operated thereon; all assignable licenses, franchises, logos, trade names, trademarks, service marks,
telephone numbers, and advertising materials used in connection with the premises and the business operated thereon.

 

4.          Assignment.
For good and valuable consideration received by Assignor, the receipt and sufficiency of which is hereby acknowledged, Assignor
hereby grants, transfers, and assigns to Assignee the entire right, title and interest of Assignor in and to the Permits and the
Intangibles. Assignor shall continue to be responsible for and shall perform and satisfy its obligations under the Permits and
the Intangibles insofar as such obligations relate to the period prior to the date of this Assignment.

 

5.          Assumption.
Assignee hereby assumes the covenants, agreements and obligations of Assignor under the Permits and the Intangibles which are applicable
to the period, and required to be performed, from and after the date of this Assignment, but not otherwise. No person or entity
other than Assignor shall be deemed a beneficiary of the provisions of this Section 5.

 

6.         Indemnification.
Assignor shall indemnify and hold harmless Assignee from and against all obligations of the Assignor under the Permits and the
Intangibles to the extent such obligations were applicable to the period, and required to be performed, prior to the date of this
Assignment. Assignee shall indemnify and hold harmless Assignor from and against all obligations assumed by the Assignee under
the Permits and the Intangibles to the extent that such obligations are applicable to the period, and required to be performed,
from and after the date of this Assignment.

 

    	 	1	 

     

    

 

7.          Legal
Expenses. If either party to this Assignment brings suit or otherwise becomes involved in any legal proceedings seeking to
enforce the terms of this Assignment, or to recover damages for their breach, the prevailing party shall be entitled to recover
its costs and expenses (including reasonable fees of attorneys, expert witnesses, accountants, court reporters, and others) incurred
in connection therewith including all such costs and expenses incurred: (a) in trial and appellate court proceedings, (b) in connection
with any and all counterclaims asserted by one party to this Assignment against another where such counterclaims arise out of or
are otherwise related to this Assignment, (c) in bankruptcy or other insolvency proceedings, and (d) in post-judgment collection
proceedings.

 

8.          Successors
and Assigns. This Assignment shall be binding upon and inure to the benefit of Assignor and Assignee and their respective successors
and assigns.

 

9.          Power
and Authority. Each party represents and warrants to the other that it is fully empowered and authorized to execute and deliver
this Assignment, and the individual signing this Assignment on behalf of such party represents and warrants to the other party
that he or she is fully empowered and authorized to do so.

 

IN WITNESS WHEREOF,
Assignor and Assignee have executed and delivered this Assignment as of the day and year first above written.

 

	 	GLOBAL WELLS INVESTMENT GROUP LLC
	 	 
	 	By:   	/s/ Alan Yu
	 	 	Name:  	Alan Yu
	 	 	Title:  	Manager
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	ATOSA CATERING EQUIPMENT, INC.
	 	 
	 	 
	 	By:  	/s/ Xuxian Shao
	 	 	Name:  	Xuxian Shao
	 	 	Title:  	President

 

 

 

Exhibits

Exhibit A:          Legal
Description of the Property

Exhibit B:          Permits

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