Document:

EX-4.31

 Exhibit 4.31 

English Summary* 
 of

 Assets and Business Transfer Agreement 

By and between 
 Beijing
Kingsoft Cloud Network Technology Co., Ltd. 
 Zhuhai Kingsoft Cloud Science and Technology Co., Ltd. 

Beijing Kingsoft Cloud Science and Technology Co., Ltd. 

And 
 Shenzhen Xunlei
Networking Technologies Co., Ltd. 
 September 2, 2014 

 

	*	The original contract is in Chinese; this is an English summary of the original contract. 

 Table of Contents 

 

					
		
	 Article 1 Definition
		 	3	  
		
	 Article 2 Transfer of Assets
		 	6	  
		
	 Article 3 Consideration
		 	8	  
		
	 Article 4 Delivery
		 	9	  
		
	 Article 5 Conditions for Performance of Obligations
		 	9	  
		
	 Article 6 Representations and Warranties
		 	12	  
		
	 Article 7 Taxes and Fees
		 	16	  
		
	 Article 8 Commitments
		 	16	  
		
	 Article 9 Liabilities for Breach of Contract and Termination of Agreement
		 	21	  
		
	 Article 10 Confidentiality
		 	23	  
		
	 Article 11 Force Majeure
		 	23	  
		
	 Article 12 Miscellaneous
		 	23	  

 Annex I: List of Contacts to be Transferred 

Annex II: List of Fixed Assets to be Transferred 
 Annex III (A):
List of Intangible Assets to be Transferred 
 Annex III (B): List of Intangible Assets to be Licensed 

Annex IV: List of Employees to be Transferred 
 Annex V:
Tripartite Agreement 
 Annex VI: Labor Contract 
 Annex VII:
Confidentiality and Non-competition Agreement 
 Annex VIII: List of Documents Relating to Assets to be Transferred 

Annex IX: List of Documents Relating to Business to be Transferred 

Annex X: List of Documents Relating to Employees to be Transferred 

Annex XI: Disclosure Letter 
 Annex XII: Confidentiality Agreement

 Annex XIII: Patents 

 Assets and Business Transfer Agreement 

This Assets and Business Transfer Agreement (“This Agreement”) is signed by the following parties on September 2, 2014 (“Date of
Signing”) in Beijing, the People’s Republic of China (“China”): 
  

	1.	Transferor: 

 Beijing Kingsoft Cloud Network Technology Co., Ltd. (Company Registration
No.:110108013708507) 
 Zhuhai Kingsoft Cloud Science and Technology Co., Ltd. (Company Registration No.:440400000183128) 

Beijing Kingsoft Cloud Science and Technology Co., Ltd. (Company Registration No.:110000450202564) 

 

	2.	Transferee: 

 Shenzhen Xunlei Networking Technologies Co., Ltd. (Company Registration
No.:440301103773964) 
 For the purposes of this Agreement, the aforesaid parties are referred to individually as “one Party” and
collectively as “the Parties”. 
 Whereas: 
  

	(1).	Members of the Transferor are the companies lawfully established in China. The business in which the Transferor is currently engaged includes the business to be transferred (as defined below), and the Transferor intends
to transfer the business to be transferred (as defined below) to the Transferee for operation in whole. 

  

	(2).	Subject to the terms and conditions of this Agreement, the Transferor agrees to transfer, and the Transferee agrees to accept, its business to be transferred (as defined below, assets to be transferred (as defined
below) and employees to be transferred (as defined below). 

 The parties hereby agree as follows with respect to the aforesaid matters under
applicable PRC laws and regulations: 
 Article 1 Definitions 

 

	1.1	Definition. For the purposes of this Agreement, unless the context otherwise requires, the following terms shall have the following meanings: 

 

	 	(1)	“Trade Secrets” means technical information and commercial information contained in business to be transferred and/or assets to be transferred as well as all information contained in this Agreement,
including but not limited to, research and development, proprietary information, technical data, technical solutions, designs, specifications, list of customers and suppliers, financial data, pricing and cost data, as well as business and marketing
plans and proposals. 

  

	 	(2)	“Contract to be Transferred” means the contract as listed in Annex I hereto and relating to the business to be transferred, which is not performed completely as of the date of signing hereof and is not
terminated prior to the date of delivery. 

  
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	 	(3)	“Newly Signed Contract” means the Contract (if any) relating to the business to be transferred that the Transferor and the customer have the intention to sign or have begun to perform but fail to
formally sign. 

  

	 	(4)	“Fixed Assets to be Transferred” means the fixed assets as listed in Annex II hereto that the Transferor transfers to the Transferee in accordance with the terms and conditions of this Agreement.

  

	 	(5)	“Intangible Assets to be Transferred” means all registered and unregistered intellectual property rights and other intangible assets as listed in Annex III (A) hereto and relating to the business
to be transferred, which the Transferor or the Transferor’s affiliates own and may transfer or use during the process of operating the business to be transferred, provided that the intellectual property rights as listed in Annex III
(B) that the Transferor intends to grant or the Transferor’s affiliates must grant to the Transferee for use do not belong to intangible assets. 

  

	 	(6)	“Assets to be Transferred” means (a) contracts to be transferred as contained in the business to be transferred; (b) fixed assets to be transferred as contained in the business to be
transferred; (c) intangible assets to be transferred as contained in the business to be transferred; (d) any trade secret relating to the aforesaid three items and the business to be transferred, which the Transferor or the
Transferor’s affiliates own and may transfer. For avoidance of doubt, assets to be transferred do not include excluded assets as specified in Article 2.6 hereof. 

 

	 	(7)	“Business to be Transferred” means online storage service provided by using personal edition of Kuaipan and Kansunzi software, service of publishing and using digital works, operating the website
www.kuaipan.cn, cloud albums and any service provided by using the data cumulated by personal edition of Kuaipan client and Kansunzi software. For avoidance of doubt, business to be transferred do not include excluded assets and business as
specified in Article 2.6 hereof. 

  

	 	(8)	“Personal Edition of Kuaipan” refers to free synchronous online disk of individual based on cloud storage. 

  

	 	(9)	“Kansunzi Software” means for photo storage and sharing service software targeted to family and friends circle. 

  

	 	(10)	“Intellectual Property Rights” means all patents registered in China of, patent application rights, trademarks, trademark application rights, copyrights, software copyrights, domain names, trade names,
logo, trade secrets, etc. , whether registered or unregistered, including, but not limited to, intellectual property rights as listed in the list of intangible assets to be transferred under Annex III (A) hereto. 

 

	 	(11)	“Employees to be Transferred” means the existing employees as set out in Annex IV currently employed by the Transferor or the Transferor’s affiliates and engaged in the business to be transferred
that the Transferee requires and agrees to employ. 

  
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	 	(12)	“Core Personnel” means the candidates marked as the core personnel for the business to be transferred under Annex IV hereto. 

 

	 	(13)	“Tripartite Agreement” means the tripartite novation agreement signed by the Transferor, the Transferee and the counterparts to the contract to be transferred (including one party and multiple parties,
hereinafter referred to as “the Customer”) to transfer the contract to be transferred to the Transferee in the template as detailed in Annex V hereto. 

  

	 	(14)	“Labor Contract” means the labor contract signed by the employees to be transferred and the Transferee in the template as detailed in Annex VI hereto. The employment conditions for employees to be
transferred under such labor contract shall not be less than the employment conditions given by the Transferee to other employees. 

  

	 	(15)	“Confidentiality and Non-competition Agreement” means the confidentiality and non-competition agreement signed by the employee to be transferred and the Transferee prior to or on the date of delivery in
the template as detailed in Annex VII hereto. 

  

	 	(16)	“Date of Delivery” has the meaning as prescribed in Article 4 hereof. 

  

	 	(17)	“Delivery” has the meaning as prescribed in Article 4 hereof. 

  

	 	(18)	“Remuneration Treatments” means all statutory and agreed remuneration, overtime pay, labor protection, insurance premium, provident fund, compensation for unused annual leave, reimbursement, statutory
economic compensation (if any), and other benefits prescribed by relevant PRC laws and regulations enjoyed by the employees to be transferred with the Transferor prior to signing of labor contract by and between the employees to be transferred and
the Transferee. 

  

	 	(19)	“Security Interest” means any mortgage, pledge, lien, right to limit, priority, preemptive rights, third party rights or interests, any other security or security interest, and any other form of similar
priority arrangements. 

  

	 	(20)	“Force Majeure” means the events that cannot be predicted by the parties hereto and occurrence and consequences of which cannot be prevented and avoided, thereby resulting in that this Agreement cannot
be performed in whole or in part or cannot be performed under the terms and conditions hereof, including but not limited to earthquakes, typhoons, floods, fires, war, or other events deemed as force majeure under the international business
practices. 

  

	 	(21)	“Affiliates” means any individual, partnership, organization or entity that is relating to one party and directly or indirectly (through one or more intermediaries) controls such party, is controlled by
such party or with such party. The term “control” means the right to direct one party or cause one party to be directed obtained by the other party for having an absolute majority of equity of stake of fifty percent (50%) or more, or
having a relative majority of equity of less than fifty percent (50%), or by adopting the manner of control through agreement, or adopting the manner other than control through agreement, such as dispatching directors, etc. 

  
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	 	(22)	“Material Adverse Effect” means any material adverse change or effect on the assets to be transferred or business to be transferred or the employees to be transferred as initiated by the Transferor that
causes the whole transaction proposed hereunder not to be conducted in a lawful manner in whole or frustrates the loss of basis for transaction or results in fundamental changes. 

Article 2 Transfer of Assets 
  

	2.1	Transfer of Assets. Under the prerequisite that the conditions under Article 5.1 hereof are met or waived on the date of delivery, the Transferor hereby agrees to transfer, assign and deliver and cause the
Transferor’s affiliates to transfer, assign and deliver at the time of delivery, and the Transferee agrees to from the Transferor and the Transferor’s affiliates at time of delivery receive, obtain and accept, the business to be
transferred, assets to be transferred and employees to be transferred as defined in Article 1 hereof on which there are no significant right flaws and no significant security interest is imposed (“Transfer of Assets”) .

  

	2.2	Risk and ownership transfer. Unless otherwise agreed in this Agreement, (1) prior to the date of delivery, the Transferor shall have all the rights and interests in the business to be transferred and assets
to be transferred, and assume all risks relating to business to be transferred, assets to be transferred and employees to be transferred; (2) as from the date of delivery, the Transferee shall have all the rights and interests conferred by this
Agreement and assume all risks relating to business to be transferred, assets to be transferred and employees to be transferred. However, for avoidance of doubt, in the case of intellectual property rights registered and applied for registration,
all the rights and interests thereon and relevant risks shall pass to the Transferee as from the date on which registration of transfer of ownership of relevant intellectual property rights is completed. (3) subsequent to the date of delivery,
the Transferor shall continue to perform and complete the responsibilities and obligations relating to business to be transferred and assets to be transferred to be performed and completed by the Transferor, including but not limited to, completion
of registration of transfer of relevant intellectual property rights with relevant sector, cooperation with relevant assets that are owned by the Transferor or the Transferor’s affiliates and must be used in the process of operating the
business to be transferred on the date of delivery as found by the transferee subsequent to the date of delivery, as well as the completion of the procedures for registration of transfer or authorization relating to such assets. 

  
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	2.3	No liability. Without prior express written consent of the Transferee or unless otherwise expressly stipulated in this Agreement, subject to Article 2.2 hereof, the Transferee is not liable for any debt and
liability relating to the business to be transferred, contract to be transferred and assets to be transferred that exists or occurs to the Transferor or the Transferor’s affiliates prior to the date of delivery, and the Transferor or the
Transferor’s affiliates shall continue to bear any debt and liability relating to the business to be transferred, contract to be transferred and assets to be transferred that exists or occurs to the Transferor or the Transferor’s
affiliates prior to the date of delivery, including but not limited to (1) any liability, debt or taxes payable; (2) any pending litigation, arbitration, administrative punishment or other legal proceedings relating to business to be
transferred, contract to be transferred and assets to be transferred that exist or occur prior to the date of delivery. Where the Transferee or the Transferee’s affiliates enter into any litigation, arbitration, administrative punishment or
other legal proceedings, or sustain any loss due to any claim made by any third party, the Transferee shall promptly notify the Transferor and shall make every effort to provide assistance to avoid further losses that may be sustained by the
Transferor. In this context, the Transferor shall be responsible for responding to the litigation or deal with punishment and legal proceedings, and make compensation for all losses sustained by the Transferee as a result. 

 

	2.4	Update of annexes. Where relevant annexes regarding the assets to be transferred and employees to be transferred attached to this Agreement at the time of signing hereof have change as of the date of delivery,
the Transferor shall be responsible for updating such annexes to reflect the actual state thereof as of the date of delivery, and the updated annexes are confirmed and consented to by the Transferee, the parties shall continue to perform this
Agreement in accordance with the updated annexes. 

  

	2.5	Taking further necessary action. Notwithstanding the foregoing, at any time subsequent to the date of delivery, the Transferor agrees to take all lawful, reasonably necessary and reasonably required action to
ensure that the Transferee enjoys relevant interests relating to assets to be transferred, business to be transferred and employees to be transferred in accordance with this Agreement subsequent to the date of delivery. Where the Transferee finds
upon the date of delivery that the assets to be transferred and employees to be transferred that are delivered are inconsistent with this Agreement or the Transferor actually fails to meet the conditions under Article 5 hereof, the Transferee is
entitled to notify the Transferor to make rectification to the aforesaid issues without prejudice to the right enjoyed by the Transferee to claim damages in accordance with this Agreement. For avoidance of doubt, it is hereby indicated that in
respect of the application for relevant rights on the assets to be transferred (including but not limited to trademark application right and patent application right), etc. the Transferor is not obligated to ensure that such applications are
approved, provided that such clause does not relieve the Transferor from being liable for breach of contract when the Transferor delays in performing the obligation of transfer, thereby resulting in that transfer of patent application cannot be
completed. 

  
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	2.6	Excluded assets and business. Regardless of this Article 2.1 hereof or other provisions, the parties hereby make clear that all the technical facilities, software and hardware involved in the technologies
and services relating to cloud storage service currently used in the personal edition of Kuaipan operated by the Transferor, commercial edition of Kuaipan, cloud storage (KS3) service, EC2 virtual host ( Cloud Hosting) business, private cloud
services and load balancing services, database services and caching services, as well as assets and business such as trade secrets, information, data, etc. relating to the aforesaid technologies, services and software and hardware do not belong to
the scope of assets to be transferred or business to be transferred, and the Transferor shall own all rights and interests in such assets and business. Commercial edition of Kuaipan is hereby defined as a facility to provide the organizational users
with the business based on cloud storage and derived technologies on cloud storage through online service; cloud storage (KS3) service is hereby defined as: the network online storage service to be accessed to through a standard interface; EC2
virtual Hosting (Cloud Hosting) business is hereby defined: to provide users with an elastically scalable computing resources services; private cloud service is defined to provide the organizational users (including internal and external ones) with
cloud storage and cloud calculation service through deployment service in the private network; load balancing service means the service to provide users with to traffic distribution between (virtual) hosts; database service means the service to
provide users with self-operating and extended relational database service through a Web interface; caching storage service means the service to provide users with self-operating and extended caching storage service through a Web interface. For the
purposes of Article 2.6, the term “network” includes computer Internet, radio and television networks, fixed communication network, mobile communications network and other information networks taking computers, televisions, fixed
telephones, mobile telephones and other electronic equipment as the terminal, as well as to LAN open to the public. “Organizational users” includes corporate legal person, institutions, government agencies; for the purposes of this Article
2.6, the term “private network” refers to network ownership or control of which is attributable to such organizational user. 

Article 3 Consideration 
  

	3.1	Consideration. The total consideration payable by the Transferee in respect of completion of transactions under this Agreement shall be RMB amount equivalent of USD 33 million (“Transaction
Consideration”), and the Transferee shall pay transaction consideration in RMB, and exchange rate of RMB against USD shall be calculated by using the middle rate against USD announced by the Bank of China at 10:00 am on one (1) working
day prior to the date of delivery. For avoidance of ambiguity, it is hereby indicated that transaction consideration does not include VAT involved by the proposed transactions hereunder, and the Transferee shall actually pay and assume such VAT.

  

	3.2	The Transferee shall pay the Transferor the transaction consideration at the time and in the manner as prescribed under this Paragraph. 

 

	 	(1)	Since the provisions of Article 5.1 are met, and on the Date of Delivery, the Transferee shall pay the transaction consideration in full to the account designated by the Transferor in RMB. 

  
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	 	(2)	The payment as specified in this Article shall be remitted to the bank account(s) designated by the Transferor, and division of amount of payments in the specific collection account shall be otherwise determined by the
Transferor in the payment instructions submitted to the Transferee, and the Transferor shall provide The Transferee with the payment instructions 2 working days prior to the date of delivery. 

 

	 	(3)	After receiving the transaction consideration and going through relevant procedures for tax filing, the Transferor shall issue to the Transferee the lawful and valid special VAT invoice or receipt. Where such special
VAT invoice or receipt is required to be itemized or has its own amount to be determined, such items or amounts shall be jointly confirmed by the Transferor and the Transferee based on the principle of friendly cooperation subject to applicable PRC
tax laws. The parties shall make their commercially reasonable efforts to enable the Transferee to receive all of the foresaid lawful and valid notes within three (3) months of payment of transaction consideration and corresponding VAT.

  

	 	(4)	Where the matters as specified in this Article 3.2 cannot be completed for the reasons attributable to the Transferor or the Transferor fails to provide the Transferee with notes in full on time in accordance with this
Article 3.2, thereby resulting in losses sustained by the Transferee, the Transferor shall be liable. 

 Article 4 Delivery

  

	4.1	Delivery. Within three (3) working days after the prerequisites as set forth in Article 5.1 and Article 5.2 are met or exempted or at any time agreed by the parties (“Date of Delivery”), the
parties shall make delivery (“Delivery”) in respect of transactions hereunder. Delivery shall be made at the office of Beijing Kingsoft Cloud Network Technology Co., Ltd. or other location as agreed by the parties.

  

	4.2	Delivery of assets to be transferred and business to be transferred. The Transferor shall, on the date of delivery, submit and deliver to the Transferee: 

 

	 	(1)	Documents as set out in Annex VIII hereto and relating to assets to be transferred; 

  

	 	(2)	Documents as set out in Annex IX hereto and relating to business to be transferred; 

  

	 	(3)	Documents as set out in Annex X hereto and relating to business to be transferred. 

 Article
5 Conditions for Performance of Obligations 
  

	5.1	Conditions for performance of obligations by the Transferee. Unless a written waive is given by the Transferee, performance of its obligations for transaction hereunder by the Transferee shall be subject to the
prerequisite that all the following conditions are met prior to or on the date of delivery: 

  

	 	(1)	Representations and warranties by the Transferor under Article 6.1 below shall always be true, complete and accurate in all respects from the current date when such representations and warranties are made to the date of
delivery. 

  
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	 	(2)	Commitments by the Transferor prior to delivery under Article 8 below shall always be true, complete and accurate in all respects from the current date when such commitments are made to the date of delivery.

  

	 	(3)	The Transferor has signed this Agreement as well as all agreements and documents to be signed by the Transferor under its commitment hereunder prior to or on the date of delivery, and this Agreement has taken effect.

  

	 	(4)	There is no litigation, arbitration or governmental proceedings in respect of assets to be transferred, business to be transferred or arising between the Transferor and the employee to be transferred that are pending or
any person threatens to institute, and there have been no effective ruling, judgment or administrative punishment prohibiting or restricting transfer of assets to be transferred, which will result in that transfer of assets will be prohibited,
restricted or otherwise prejudiced in all or main respects at the time of delivery. 

  

	 	(5)	There is no effective act, decision, ruling, judgment and other instrument prohibiting or restricting transfer of assets, which will result in that transfer of assets will be prohibited, restricted or otherwise
prejudiced in all or main respects at the time of delivery. 

  

	 	(6)	There is no material adverse change in the assets to be transferred, business to be transferred and employees to be transferred upon date of signing hereof. 

 

	 	(7)	Prior to the date of delivery, the Transferor shall normally carry out business to be transferred in the manner acceptable the parties based on the good faith and reasonable commercial considerations and related market
practices, and there is no material adverse effects, thereby frustrating the purpose of the transactions hereunder. 

  

	 	(8)	The Transferor has obtained all internal approvals required by completion of this Agreement and transactions hereunder, including but not limited to, approval by the resolution of the shareholders’ meeting of the
Transferor. 

  

	 	(9)	The fixed assets as listed in the list of fixed assets to be transferred under Annex II themselves as well as the specific documents and information as listed in Annex II and required to be delivered prior to the date
of delivery shall be delivered to the Transferee on or prior to the date of delivery hereunder, and the Transferee shall carry out acceptance of and inspection of the fixed assets and relevant supporting documents delivered by the Transferor, and
when they are inspected to be correct, the Transferee shall sign the letter on handover of fixed assets to confirm completion of delivery. 

  

	 	(10)	Transfer of employees: in respect of the specific program on transfer of employees and sharing of relevant cost, the matters to be completed prior to the date of delivery have been completed in accordance with the
program otherwise determined by the Transferor and the Transferee through consultation. 

  

	 	(11)	The Transferor has delivered to the Transferee the originals of the documents as set out in Annex VIII and relating to the assets to be transferred and intellectual property rights thereon. 

  
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	 	(12)	Prior to or on the date of delivery, The Transferee and the Transferor or the Transferor’s affiliates shall sign the agreement on transfer of patent application right in respect of patent application as set out in
Annex III (A) (“Agreement on Transfer of Patent Application Right”). 

  

	 	(13)	Prior to or on the date of delivery, the Transferee or the Transferor and the Transferor’s affiliates (including but not limited to, Beijing Kingsoft Software Co., Ltd., Zhuhai Kingsoft Software Co., Ltd., Beijing
Kingsoft Digital Entertainment Technology Co., Ltd. and Zhuhai Kingsoft Office Software Co., Ltd.) shall sign the Patent Licensing Agreement in respect of the patent and patent application as set out in Annex III (B) (“Patent Licensing
Agreement”). 

  

	 	(14)	Prior to or on the date of delivery, the Transferee or the Transferor and the Transferor’s affiliates shall sign the Agreement on Transfer of Registered Trademark in respect of the registered trademark and
trademark application as set out in Annex III (A) (“Agreement on Transfer of Registered Trademark”). 

  

	 	(15)	Prior to or on the date of delivery, the Transferee or the Transferor and the Transferor’s affiliates shall sign the Agreement on Transfer of Software Copyright in respect of software copyright as set out in Annex
III (A) (“Agreement on Transfer of Software Trademark”). 

  

	 	(16)	Prior to or on the date of delivery, the Transferee or the Transferor and the Transferor’s affiliates shall sign the Domain Name Transfer Agreement in respect of domain name as set out in Annex III
(A) (“Domain Name Transfer Agreement”). 

  

	 	(17)	In respect of relevant annexes regarding assets to be transferred and employees to be transferred attached to this Agreement at time of signing hereof, the Transferor shall timely update such annexes to reflect actual
state thereof as of the date of delivery, and if updates of such annexes by the Transferor include the material adverse change in the assets to be transferred and the business to be transferred, the Transferor shall obtain confirmation and approval
from the Transferee. 

  

	 	(18)	The Transferor provides the Transferee with its audit report of 2013. 

  

	 	(19)	Upon confirmation by the business teams of the Transferor and the Transferee through e-mail, as of December 31, 2013, the total number of users registering with the Persona Edition of Kuaipan and the number of
active users both reached desired thresholds. On April 30, 2014 or the date of delivery (whichever occurs earlier), the reduction rate of the aforesaid data about number of users shall be capped. 

 

	5.2	Conditions for performance of obligations by the Transferor. Unless a written waive is given by the Transferor, performance of its obligations for transaction hereunder by the Transferor shall be subject to the
prerequisite that all the following conditions are met prior to or on the date of delivery: 

  

	 	(1)	Representations and warranties by the Transferee under Article 6.2 below shall always be true, complete and accurate in all respects from the current date when such representations and warranties are made to the date of
delivery. 

  

	 	(2)	The Transferee has signed this Agreement as well as all agreements and documents to be signed by the Transferor under its commitment hereunder prior to or on the date of delivery, and this Agreement has taken effect.

  
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	 	(3)	The relevant authority of the Transferee approved this Agreement and the transactions hereunder, and adopted the corresponding resolution of the shareholders’ meeting. 

Article 6 Representations and Warranties 
  

	6.1	Representations and Warranties by the Transferor. In addition to those disclosed under Disclosure Letter as Annex XI hereto, the Transferor makes the following representations and warranties to the Transferee on
the date of signing and the date of delivery: 

  

	 	(1)	All members of the Transferor are an independent legal persons officially organized, lawfully existing and in good standing under the PRC laws, and the Transferor will obtain all internal approvals required by
completion of this Agreement and transactions hereunder prior to the date of delivery, including but not limited to the approval by the resolution of the shareholders’ meeting of the Transferor. The Transferor is entitled to sign this Agreement
and perform its obligations hereunder, and this Agreement is fully legally binding upon the Transferor upon its signing. 

  

	 	(2)	Signing of this Agreement by the Transferor or performance of its obligations hereunder will not violate the Transferor’s articles of association or other company organization documents or any laws, regulations,
rules and authorization or approval by any government agency or department, nor will said signing or performance violate or be in conflicts with any provisions of any contract or agreement to which the Transferor is a party. 

 

	 	(3)	The Transferor or its affiliates shall enjoy full ownership of the assets to be transferred and business to be transferred as transferred to the Transferee in accordance with the this Agreement (except where the
intellectual property rights disclosed to the Transferee as listed in Annex III are granted to other parties for use under the contract to be transferred, provided that authorization of such disclosure does not affect the ability by the Transferor
to perform its obligations hereunder), and there is no license granted to any third party in respect of the assets to be transferred, pledge on the assets to be transferred, the right to purchase the assets to be transferred or any other security
interest as granted to any other party; for the intellectual property rights as listed in Annex III (A), there is no pending and ongoing or potential (as deemed by the Transferor with cause) objection, dispute, request for revocation, request for
declaration of invalidation, etc. proposed by the government agency or any third party; 

  

	 	(4)	There is no event or circumstance that has occurred or is reasonably expected to occur, and will have significant adverse impact any part of assets to be transferred, transfer of the employees to be transferred or the
transaction hereunder; 

  
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	 	(5)	The Transferor (or its affiliates) has all license, permits, approval, registration, qualification, certificate or other government authorization, etc. required to operate its business to be transferred, and such
documents are lawfully obtained and during the valid term; the Transferor (or its affiliates) lawfully operates its business to be transferred; 

  

	 	(6)	All the documents, representations and information owned by the Transferor and relating to transactions hereunder have been disclosed to the Transferee in a complete, true and effective manner, and the documents
provided by the Transferor to the Transferee do not contain any misrepresentation or omission in any significant aspects; 

  

	 	(7)	Assets to be transferred and business to be transferred that the Transferor intends to transfer (excluding authorization) to the Transferee do not have any significant defects in right or security interest and other
restrictions at the time of being transferred to the Transferee, and in respect of the assets to be transferred that the Transferor intends to authorize the Transferee to use, the Transferor is entitled to lawfully authorize the Transferee to use,
and any data transferred by the Transferor to the Transferee, including, but not limited to, data stored at the server, do not have significant omissions; 

  

	 	(8)	As of the date of delivery, each copy of contract to be transferred: (i) in the case of the Transferor and other parties thereto, is legal, valid, binding and enforceable; (ii) to the knowledge of the
Transferor, the Transferor and the other parties thereto do not seriously default, nor shall they infringe upon the title, intellectual property rights or other legitimate interests of any third party; and (iii) to the knowledge of the
Transferor, neither party advocates the abolition or cancellation of any of the terms of such contract; 

  

	 	(9)	Employees to be transferred and the Transferor or its affiliates lawfully signed the labor contract, and all the employees to be transferred are the employees lawfully employed by the Transferor or its affiliates, and
there is no significant labor dispute between the employees to be transferred and the Transferor; 

  

	 	(10)	The Transferor undertakes, as from the effective date of this Agreement, to do its utmost to contact and negotiate with the Customer to cause the Customer to agree to transfer or terminate relevant contract to be
transferred in the agreed specific applicable manner, thereby transferring the contract to be transferred to the Transferee. In respect of the contract the contract to be transferred that the Customer agrees to transfer and the Transferee recognizes
in writing, the Transferor shall arrange the parties to sign relevant agreement, contract and/or other documents respectively in the shortest practicable time; 

  

	 	(11)	Intellectual Property Rights 

  

	 	(a)	All intellectual property rights contained in the intangible assets to be transferred or authorized hereunder are lawfully owned by the subjects as listed in Annex III, and to the knowledge of the Transferor, the
intellectual property rights do not constitute interference, infringement, misappropriation or otherwise conflict with the intellectual property rights of any third party, and there are no security interests or other restrictions on each of the
intellectual property rights, and the Transferor has taken necessary action to maintain and protect the intellectual property rights; 

  
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	 	(b)	To the knowledge of the Transferor, the aforementioned intellectual property rights are not subject to any judgment, order or ruling; there is no pending litigation, arbitration or other claim or assertion against
legality, validity, enforceability, use or ownership of such intellectual property rights; 

  

	 	(c)	All intellectual property rights are legally registered or applied for registration under PRC laws, and the registration obtained or application for registration made is not revoked or dismissed or declared invalid, and
the Transferor shall pay annual fee for patent on schedule. 

  

	 	(12)	The Transferor has disclosed to the Transferee all material facts relating to the assets to be transferred, business to be transferred and employees to be transferred, and all relevant information given by the
Transferor or the representative thereof to the Transferee prior to or during negotiation shall be true, complete, accurate and not misleading in all material respects; 

 

	 	(13)	Information under the annexes hereto is true, complete and accurate, without any concealment and material omissions; 

  

	 	(14)	Except for those disclosed to the Transferee, the assets to be transferred constitute the main and necessary assets required by the Transferee to engage in the business to be transferred, and the operation of business
to be transferred has no need to take any other assets currently owned by the Transferor or its affiliates or any third party (including, but not limited to, fixed assets, patents, patent applications, trademarks, trademark applications, software
copyright, domain names), personnel or technology as basis or premise, and business to be transferred does not involve illegal use of the assets currently owned by any third party (including, but not limited to, fixed assets, patents, patent
applications, trademarks, trademark applications, software copyrights, domain) or technology or personnel, except for the assets of the Transferor or its affiliates used as agreed by the Transferee and the Transferor or its affiliates;

  

	 	(15)	Prior to or on the date of delivery, both the assets to be transferred and business to be transferred are in the normal operating state; 

 

	 	(16)	Except as otherwise agreed herein, the assets to be transferred, the employees to be transferred and the business to be transferred have included relevant rights and interests on all the resources used by the Transferor
for operating the assets to be transferred and business to be transferred prior to the date of delivery, and required to enable the Transferee to normally operate the assets to be transferred and the business to be transferred in the manner
substantially the same as the manner adopted by the Transferor prior to transfer subsequent to the date of delivery; 

  
 14 

	 	(17)	The Transferor does infringe upon the rights of any third party or is subject to any penalties imposed by relevant government departments due to its engagement in the business to be transferred. To the knowledge of the
Transferor, there is no legal action that is ongoing or involves the business to be transferred or assets to be transferred or employees to be transferred, nor there is any ongoing administrative proceedings, litigation or arbitration imposed by the
administrative department, court or arbitration institution or involving business to be transferred or assets to be transferred or employees to be transferred, nor there is any labor dispute between the Transferor and the employees to be
transferred, except where the aforesaid penalty, administrative procedures, litigation, arbitration or dispute will not have significant adverse impact on the proposed transactions hereunder. The Transferor is lawfully entitled to transfer the
assets to be transferred or business to be transferred in accordance with this Agreement, and may lawfully transfer said assets or business; 

  

	 	(18)	There is no insurable interest and/or insurance contract that is still valid on any assets to be transferred. 

  

	6.2	Representations and warranties by the Transferee. The Transferee makes the following representations and warranties to the Transferor: 

 

	 	(1)	The Transferee is a limited liability company validly established under PRC laws, which is s officially organized, lawfully existing and in good standing under the PRC laws, and the Transferee is entitled to sign this
Agreement and perform its obligations hereunder, and this Agreement is fully legally binding upon the Transferee upon its signing. The Transferee will obtain all internal approvals required by completion of this Agreement and transactions hereunder
prior to the date of delivery, including but not limited to the resolution of the shareholders’ meeting of the Transferee. 

  

	 	(2)	Signing of this Agreement by the Transferee or performance of its obligations hereunder will not violate the Transferee’s articles of association or other company organization documents or any laws, regulations,
rules and authorization or approval by any government agency or department, nor will said signing or performance violate or be in conflicts with any provisions of any contract or agreement to which the Transferee is a party. Where signing of this
Agreement or performance its obligations hereunder by the Transferee requires authorization or approval from any government agency or department under any laws, regulations and rules, the Transferee undertakes to obtain such authorization or
approval, if and the Transferee fails to obtain said authorization or approval, the parties agree that termination of such transaction by either party is not deemed as default. Where the signing of this Agreement or performance its obligations
hereunder by the Transferor requires authorization or approval by any government agency or department and needs assistance from the Transferee under any laws, regulations and rules, the Transferee undertakes to cooperate. 

  
 15 

 Article 7 Taxes and Fees 

 

	7.1	The parties shall bear the taxes and fees relating to the transactions hereunder respectively under applicable laws and regulations. VAT resulting from transactions hereunder shall be borne by the Transferee.

  

	7.2	The costs and expenses relating to negotiation, preparation, signing of this Agreement and incurred by the parties to obtain necessary approvals, shall be borne by the Transferor, subject to an agreed upper limit.

 Article 8 Commitments 
  

	8.1	Commitments by the parties. As from the date of the signing of this Agreement, either party shall: 

  

	 	(1)	not engage in or allow any act or omission that may be in violation of any representations and warranties as specified in Article 6 hereof and the commitments as specified in Article 8 hereof; 

 

	 	(2)	Once such party is aware of any act or omission in violation of any representation and warranty hereunder, it shall immediately make disclosure to the other party in writing. Especially once the Transferor or the
Transferee finds any asset to be included but not included in the scope of assets to be transferred hereunder, the Transferor shall immediately transfer such asset to the Transferee free of charge in accordance with this Agreement, and complete the
corresponding registration of change (if required). 

  

	8.2	As from the date of signing of this Agreement, the Transferor undertakes: 

  

	 	(1)	to take all necessary action and sign all necessary documents to cause ownership of the assets to be transferred and any right in connection therewith be full given to the transferee and/or registered under the
Transferee’s name, and smoothly complete delivery; 

  

	 	(2)	to take effective measures to facilitate a smooth transition of the employees to be transferred to the Transferee, and assist the Transferee in going through all the procedures for personnel employment of the employees
to be transferred to make such employees be lawfully employed by the Transferee; the Transferor and the Transferee shall otherwise sign the employee relocation and cost-sharing agreement at the same time as signing this Agreement to expressly agree
the specific program on transfer of employees. 

  
 16 

	 	(3)	from the date of signing of this Agreement to the date of delivery (in the case of intellectual property rights involved in the intangible assets to be transferred registration of which is completed) or date of actual
transfer of intellectual property right, except for the performance of obligations hereunder or with the prior written consent of the Transferee or as otherwise agreed herein, the Transferor may not: (1) use, license, sell, lease, copy, pledge
or dispose of the assets to be transferred or any part thereof or relevant intellectual property rights; (2) advocate for ownership or intellectual property rights of the assets to be transferred (or any updated, upgraded or developed part
thereof); (3) apply for registering name or similar name or the contained intellectual property rights of the assets to be transferred (including, but not limited to, any updated, upgraded or developed part thereof) as trademarks, domain names,
trade names, etc., or registered copyright, or make unauthorized use thereof; (4) disclose trade secrets related to assets to be transfer to a third party; (5) in respect of the patent or trademark being applied for as listed in Annex III
(A), cancel application or is overdue to make a reply when the relevant government department requires the Transferor to modify or take any action on such application within the prescribed time. For avoidance of ambiguity, it is hereby indicated
that in no case may use by the Transferor or its affiliates of the excluded asses as mentioned in Article 2.6 hereof or operation by the Transferor or its affiliates of the excluded business as mentioned in Article 2.6 be deemed as violation of this
Article 8.2(3) or other provisions hereof. 

  

	 	(4)	Within six (6) months of the date of delivery, the Transferee and the Transferor or its affiliates shall submit the application materials concerning transfer of the patent as listed in Annex III (A) to
relevant authority in charge of patent, and finally complete the filing of patent transfer, and obtain the Notice of Going through Procedures issued by the authority in charge of patent. 

 

	 	(5)	Within six (6) months of the date of delivery, the Transferee and the Transferor or its affiliates shall submit the application materials concerning transfer of the patent application as listed in Annex III
(A) to relevant authority in charge of patent, and finally complete the filing of patent transfer, and obtain the Notice of Going through Procedures issued by the authority in charge of patent. 

 

	 	(6)	Within eighteen (18) months of the date of the delivery, the Transferee and the Transferor or its affiliates shall submit to relevant authority in charge of trademark the application materials regarding the
registered trademark as listed in Annex III (A) hereto (other than Kuaipan trademark under Items 1-6, Section (I) and Items 8-14, Section (II) of Annex III (A), obtain the Certificate on Approval of Transfer of Trademark issued by the
relevant authority in charge of trademark or the filing document issued by other authority in charge of trademark indicating that registration of transfer of the registered trademark belonging to the scope of assets to be transferred and to be
transferred to the Transferee has been completed. For avoidance of ambiguity, it is hereby indicated that transfer of Kuaipan trademark under Items 1-6, Section (I) and Items 8-14, Section (II) of Annex III (A) shall be completed within
eighteen (18) months upon deregistration of trademark under Article 8.10 hereof. 

  
 17 

	 	(7)	Within eighteen (18) months of the date of delivery, the Transferee and the Transferor or its affiliates shall submit to relevant authority in charge of trademark the application materials regarding the trademark
applications as listed in Annex III (A) hereto and obtain the Acceptance Notice issued by the authority in charge of trademark. 

  

	 	(8)	Prior to completion of transfer of registered trademark and patent as listed in Annex III (A), the Transferor shall maintain validity of the patent and registered trademark, including, but not limited to timely payment
of the annual fee in full and dealing with the administrative procedures, disputes, litigation, arbitration or other proceedings concerning trademark and patent with due diligence an, provided that all the costs arising from registration of change
for transfer of registered trademark and patent relating to the aforesaid matters shall be borne by the Transferee; 

  

	 	(9)	Within six (6) months of the date of delivery, the Transferee and the Transferor or its affiliates shall apply to the copyright administration department under the State Council for going through the procedures for
registration of transfer of software copyright as listed in Annex III (A), and provide the Transferee with the Software Copyright Registration Certificate with the Transferee registered as the owner. 

 

	 	(10)	Within six (6) months of the date of delivery, the Transferee and the Transferor or its affiliates shall apply to the relevant domain name administrative authority for going through the procedures for registration
of change for the transfer of domain name as listed in Annex III (A), and provide the Transferee with the Domain Name Certificate with the Transferee registered as the owner. 

 

	 	(11)	Within six (6) months of the date of delivery, Beijing Kingsoft Cloud Network Technology Co., Ltd. shall change the Telecommunications and Information Services Business License of the People’s Republic of
China numbered Jing ICP Zheng 120829 held by it. 

  

	 	(12)	Within six (6) months of the date of delivery, the Transferor shall make every effort to contact and negotiate with the Customer to cause the Customer to agree to transfer the contract to be transferred in the
special applicable manner, thereby transferring the contract to be transferred to the Transferee. In respect of the contract to be transferred that the Customer agrees to transfer and is recognized by the Transferee in writing, the Transferor shall
arrange them to sign relevant agreement, contract and/or other documents respectively in the practicable shortest time. The Transferor will endeavor to require the Customer to sign the relevant form and content of the tripartite agreement in the
format and contents as detailed in Annex V, and submit the signed the tripartite agreement to the Transferee; 

  

	 	(13)	As from date of signing of this Agreement without the prior consent of the Transferee, the Transferor shall not sign any new contract in respect of the business to be transferred; all newly signed contract as from the
date of delivery shall be directly signed by the Transferee and the Customer, and the Transferor shall not sign and enter into any new contract or agreement in respect of the business to be transferred (except for signing for transferring the
contract to be transferred), except where the prior consent is obtained from the Transferee; 

  
 18 

	 	(14)	The Transferor guarantees to normally operate the assets to be transferred and the business to be transferred during the period commencing on the date of signing hereof and ending on the date of delivery, and will not
establish or allow to have any security or other encumbrance that may affect the rights of and interests in the assets to be transferred or business to be transferred, except where the prior consent is obtained from the Transferee.

  

	 	(15)	After the assets to be transferred hereunder are transferred to the Transferee, the Transferor will not commit any act that may prejudice legitimacy, effectiveness and value of such assets to be transferred, or hinder
the Transferee to make full use of such assets to be transferred; 

  

	 	(16)	The Transferor will not engage in or permit any act or omission that may be in violation of representations and warranties under Article 6 hereof prior to the date of delivery; 

 

	 	(17)	After the business to be transferred hereunder is transferred to the Transferee, the Transferor will not commit any act that may be detrimental to the smooth operation of such business to be transferred, or impede the
Transferee to operate such business to be transferred; 

  

	 	(18)	The Transferor shall bear the obligation of confidentiality under the confidentiality agreements as listed in Annex XII hereto and other related agreements containing confidentiality provisions, unless the Transferee
and the counterpart thereto otherwise sign an agreement, or the Transferee has no need to perform the obligations under the confidentiality agreements as listed in Annex XII hereto and other related agreements containing confidentiality provisions
and to be liable for damages; 

  

	 	(19)	Within twelve (12) months of the date of delivery, where the Transferee needs to use the patents as listed in Annex XIII hereto at the time of operating the business to be transferred, the Transferor shall assist
the Transferee in obtaining the authorization of free use of such patent. 

  

	8.3	Upon the date of delivery, the Transferor shall do its utmost commercially to assist the Transferee in operating the business transferred in accordance with this Agreement and give necessary support and cooperation to
the Transferee to ensure that such business to be transferred is operated smoothly. 

  

	8.4	Business operation by the Transferee upon delivery. The Transferee undertakes to do their utmost commercially upon the date of delivery to operate the business to be transferred and provide the user with relevant
service to ensure that no adverse effects will be imposed on the Transferor, its affiliates and its business due to the operation by the Transferee of the business to be transferred. 

  
 19 

	8.5	Authorized use of intellectual property rights. (1) Upon the date of delivery and prior to completion of procedures for registration of transfer of the assets to be transferred, the Transferor agrees to
authorize the Transferee to use relevant assets to be transferred without compensation, including but not limited to trademarks, patents, domain name and software copyrights and other intangible assets as listed in Annex III (A); (2) Upon the
date of delivery, the Transferor agrees to license without compensation or cause the its affiliates to license without compensation the Transferee to use the trademark and patent as listed in Annex III (B) on the premise that the Transferee
only continues to use such trademark and patent within the scope of business to be transferred on the date of delivery; (3) upon completion of the procedures for registration of transfer of patent as listed in Annex III (A), the Transferee
agrees to authorizes to use such patent without compensation, and in case the Transferee transfers such patent, it shall continue to ensure that the Transferor uses such patent without compensation; (4) within 18 months of the date of delivery,
the Transferor may continue to use the trademarks as listed in Annex III (A) without compensation to facilitate the Transferor to continue to use such trademark while adjustment other relevant product business, provided that the Transferor is
not obligated to take any further action in the previous use of such trademark (including, but not limited to, requiring the ads placed to stop using such trademark). 

 

	8.6	Non-competition agreement. Except where the prior written consent is obtained from the Transferee, the Transferor undertakes: within three (3) years upon delivery, the Transferor and the company in which the
Transferor holds 50% or more of the equity or the company holding 50% or more of equity in the Transferor (hereinafter collectively referred to as “the Party Making Non-competition Commitment”) shall adhere to standard non-compete
provisions agreed upon between the parties. 

  

	8.7	The Transferee undertakes that without written permission of the Transferor, the Transferee shall not use or disclose the trade secrets of the Transferor obtained by the Transferee under this Agreement and the
transactions proposed hereunder that have nothing to do with the business to be transferred. 

  

	8.8	The Transferee undertakes not to instigate any personnel to leave the Transferor or not joint the Transferor or not serve the Transferor, nor will the Transferee instigate any personnel to leave the Transferor or join
the Transferee or its affiliate or other party’s enterprise, institution or entity; within three (3) years as from the date of delivery, the Transferee and the companies in which the Transferee holds 50% or more of equity or the companies
holding 50% or more of equity in the Transferee will not hire the personnel as determined in the list of the employees the Transferor submits to the Transferee in writing each year. 

 

	8.9	The parties hereto agree and acknowledge that, except as otherwise agreed herein, the transaction consideration constitutes the reasonable and sufficient consideration of the assets to be transferred and business to be
transferred hereunder, and except for transaction consideration, the Transferor has need to make any payment to the Transferee or other parties under the agreement on transfer of patent right, agreement on transfer of the patent application right,
patent licensing agreement, trademark authorization agreement, agreement on transfer of registered trademark, agreement on transfer of software copyright or agreement on transfer of domain name. 

  
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	8.10	Deregistration of trademark. In respect of the registered trademarks involving word “KingSoft” as listed in Annex III (B), the Transferor shall immediately carry out deregistration with the assistance
of the Transferee upon the date of delivery, and shall submit the application materials for deregistration of trademark within ten (10) working days of the date of delivery. The Transferee may continue to use the registered trademarks involving
word “KingSoft” as listed in Annex III (B) prior to completion of procedures for deregistration. 

  

	8.11	Renaming software copyright. In respect of the name of software copyright as listed in Annex III (A) involving word “kingSoft”, upon registration of change in the ownership of software copyright,
the Transferee shall change and delete the word “kingSoft” involved in its name within two (2) months upon completion of registration of change in ownership of such software copyright. 

 

	8.12	The parties shall make best efforts on business to cooperate with cutting and data migration for all the servers required and used by completion of business to be transferred, including but not limited to, the servers
as listed in Annex II hereto, and ensure that no significant loss is caused to relevant data. 

 Article 9 Liability for
Breach of Contract and Termination of Agreement 
  

	9.1	Liability for Breach of Contract. 

  

	 	(1)	Where either party violates any of its representation, warranties, undertakings hereunder or any other provisions hereof, including the circumstance under which either party makes any untrue representation or warranty
hereunder, thereby resulting in the other party assumes any costs, liability or sustains any loss (Including but not limited to, any loss of profits expected to be available to the other party for which the other party has a specific and reasonable
evidence), the defaulting party shall be liable to the other party for any of the aforesaid costs, liabilities or loss (including but not limited to any interest and attorney fees paid or lost by the other party due to default by the defaulting
party). Such damages shall be equivalent to the actual losses incurred by the non-defaulting party due to default. Where the parties default, they shall be liable correspondingly in corresponding proportion based on actual situation.

  

	 	(2)	The defaulting party shall take corrective action as soon as possible, continue to fulfill its obligations under this agreement and make compensation for direct loss sustained by the non-defaulting party, provided that
the cumulative damages payable by the defaulting party as agreed by the parties shall not exceed 100% of transaction consideration. 

  

	 	(3)	Where the cumulative damages exceed an agreed threshold due to subsequent breach by the defaulting party, the defaulting party shall be liable for all losses sustained by the other party. 

  
 21 

	 	(4)	Subject to relevant provisions of this Article 9.1, after delivery is made, where the Transferee finds that the Transferor violates the representations and warranties under Article 6.1 hereof and/or commitments by the
Transferor under Article 8, the Transferee is entitled to require the Transferor to take corrective measures as soon as possible and be liable for losses sustained by the Transferee, provided that the Transferee shall hold the Transferor liable for
such breach within eighteen (18) months subsequent to the date of delivery; where the Transferor finds that the Transferee violates the representations and warranties under Article 6.2 hereof and/or commitments by the Transferee under Article
8, the Transferor is entitled to require the Transferee to take corrective measures as soon as possible and be liable for losses sustained by the Transferor, provided that the Transferor shall hold the Transferee liable for such breach within
eighteen (18) months subsequent to the date of delivery. 

  

	 	(5)	Notwithstanding the provisions of this Article 9.1, where the party making non-competition commitment violates the provisions on non-competition under Article 8.6, the Transferor shall pay the Transferee liquidated
damages, the amount of which would be determined in line with the amount of time passed since the closing of this transaction. 

  

	 	(6)	Where closing is delayed for the reasons attributable to the Transferee or the Transferee delays in paying part or all of transaction consideration for more than five (5) working days, the Transferee shall pay the
Transferor the liquidated damages equivalent to one-thousandth (0.1%) of the transaction consideration per day of delay, and bear the costs incurred and involved by the Transferor in respect of the assets to be transferred and business to be
transferred as from the date of delay in delivery or the date of delay in payment. Where such transferee defaults for more than thirty (30) working days, the Transferee shall pay the Transferor the amount equivalent to one point five thousandth
(0.15%) of the transaction consideration as the liquidated damages per day of delay, and bear one hundred and fifty percent (150%) of the costs incurred and involved by the Transferor in respect of the assets to be transferred and business to
be transferred as from the date of delay in delivery or the date of delay in payment. Where completion of one more or more matters under Items (4), (5), (6), (7), (9), (10), (11) and (12) (a total of eight items) of Article 8.2 is delayed
for more than five (5) working days for the reasons attributable to the Transferor, the Transferor shall pay the Transferee one-ten-thousandth (0.01%) of the transaction consideration as the liquidated damages on the daily basis in respect of
each of said items, and bear the costs incurred by the Transferee as a result. Where such transferor defaults for more than thirty (30) working days, the Transferor shall pay the Transferee one point five ten-thousandth (0.015%) of the
transaction consideration as the liquidated damages on the daily basis, and bear one hundred fifty percent (150%) of the costs incurred by the Transferee as a result. 

 

	 	(7)	Members of the Transferor shall be jointly and severally liable for damages in respect of the liability for breach of contract as set out in this Article 9.1. 

 

	9.2	Termination of Agreement. 

  

	 	(1)	The parties hereto may terminate this Agreement at any time if they have so agreed through friendly consultation. 

  
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	 	(2)	Where either party seriously violates or fails to perform any provisions hereof, other non-defaulting party is entitled to immediately terminate this Agreement, and the defaulting party shall bear any liability arising
therefrom. 

  

	 	(3)	Upon termination of this Agreement, the parties shall work together to make the assets to be transferred and employees to be transferred to be restored to the state at the time prior to signing hereof, and shall fully
return any and all consideration paid by the Transferee. All the costs arising from or in connection with such return procedures shall be borne by the party at fault in the fault principle. Where either party is not at any fault for failure to
delivery, the party proposing for termination shall be liable for the costs in respect of such return procedures. 

  

	 	(4)	Any liability for damages in respect of any breach hereunder shall not be rescinded due to termination hereof. 

Article 10 Confidentiality 
  

	10.1	The Parties acknowledge and confirm that the existence and terms of this Agreement and any oral or written information exchanged by the parties in respect of this Agreement are confidential information
(“Confidential Information”), and the parties shall maintain confidentiality of all such information. Without the prior written consent of the other party, neither party shall disclose to any third party any Confidential Information,
except for the following circumstances: (1) such information has entered the public domain for the reasons other than unauthorized disclosure by the party accepting such information to the public; (2) disclosure is required by applicable
laws, including, but not limited to disclosure either party or affiliates thereof is required to make due to listing or listing regulation; or (3) either party needs to make disclose to its legal or financial adviser in respect of the
transaction hereunder, provided that such legal or financial advisors also needs to perform the obligation of confidentiality similar to this clause. Any disclosure made by working personnel or an institution hired by either party shall be deemed to
have been made by such party, and such party is liable for breach of contract in accordance with this Agreement. This clause survives termination of this Agreement for whatever reason. 

Article 11 Force Majeure 
  

	11.1	Where either party hereto delays in performing its obligations hereunder due to force majeure, thereby resulting in any loss sustained by the other party, such party is not liable for such losses. The party encountering
event of force majeure shall take active effective measures to minimize the loss sustained by the other party due to its delay in performing contractual obligations, or such party shall be liable for the further losses on its own. 

Article 12 Miscellaneous 
  

	12.1	Effectiveness of this Agreement. This Agreement takes effect upon signing by the parties. 

  

	12.2	Governing Law. Signing, effectiveness, performance, interpretation, termination of this Agreement and dispute resolution shall be governed by the laws of the People’s Republic of China. 

  
 23 

	12.3	Dispute Resolution. All disputes relating to this Agreement and arising out of performance of this Agreement shall be resolved by the parties through friendly consultation. Where such dispute is not resolved
within thirty (30) days after one party issues the written notice to the other party, requiring resolution of the dispute through consultation, either party may submit such dispute to China International Economic and Trade Arbitration
Commission for arbitration, which shall be conducted under the then effective arbitration rules in Guangzhou. The arbitral award is final and binding on the parties hereto. 

 

	12.4	Modifications and Supplements to this Agreement. Any modification or supplement to this Agreement shall be made by the parties hereto in writing. Any modification and supplement hereto signed by the parties in
writing constitute an integral part of this Agreement and are equally authentic as this Agreement. 

  

	12.5	Waiver. Failure or delay by either party in exercising any right or remedy as set forth in this Agreement and modifications or supplements hereto shall not constitute or be deemed as a waiver; nor shall any
single or partial exercise of the aforesaid rights and remedies impede further exercise of such rights and remedies. 

  

	12.6	Severability. If any provision of this Agreement becomes invalid or unenforceable for any reason, legality, validity and enforceability of other provisions of this Agreement will not be affected.

  

	12.7	Annexes. Any annex hereto constitutes an integral part of this Agreement and is equally authentic as this Agreement. 

  

	12.8	Survival. Article 6, Article 8 to Article 10 and Article 12 hereof survive termination hereof. 

  
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 The following annexes constitute an integral part of this Agreement: 

Annex I: List of Contacts to be Transferred 
 Annex II: List of
Fixed Assets to be Transferred 
 Annex III (A): List of Intangible Assets to be Transferred 

Annex III (B): List of Intangible Assets to be Licensed 
 Annex
IV: List of Employees to be Transferred 
 Annex V: Tripartite Agreement 

Annex VI: Labor Contract 
 Annex VII: Confidentiality and
Non-competition Agreement 
 Annex VIII: List of Documents Relating to Assets to be Transferred 

Annex IX: List of Documents Relating to Business to be Transferred 

Annex X: List of Documents Relating to Employees to be Transferred 

Annex XI: Disclosure Letter 
 Annex XII: Confidentiality
Agreement 
 Annex XIII: Patents 
 (The
remainder of this page is intentionally left blank) 

  
 25 

 (This is the signature page of Assets and Business Transfer Agreement, and the remainder of this page is
intentionally left blank) 
 In witness whereof, the parties hereto have caused this Agreement to be signed by their respective authorized representative on
the date written above. 
 Transferor: Beijing Kingsoft Cloud Network Technology Co., Ltd. 

Seal of Beijing Kingsoft Cloud Network Technology Co., LTD. 

Signature of Authorized Representative: /s/ WANG Yulin 

Name of Authorized Representative: WANG Yulin 
 Title of
Authorized Representative: Legal Representative 
 [Corporate Seal] 

Signature page 

  
 26 

 (This is the signature page of Assets and Business Transfer Agreement, and the remainder of this page is
intentionally left blank) 
 In witness whereof, the parties hereto have caused this Agreement to be signed by their respective authorized representative on
the date written above. 
 Transferor: Zhuhai Kingsoft Cloud Science and Technology Co., Ltd. 

Seal of Zhuhai Kingsoft Cloud Science and Technology Co., Ltd. 

Signature of Authorized Representative: /s/ ZHANG Hongjiang 

Name of Authorized Representative: ZHANG Hongjiang 
 Title of
Authorized Representative: Legal Representative 
 [Corporate Seal] 

Signature page 

  
 27 

 (This is the signature page of Assets and Business Transfer Agreement, and the remainder of this page is
intentionally left blank) 
 In witness whereof, the parties hereto have caused this Agreement to be signed by their respective authorized representative on
the date written above. 
 Transferor: Beijing Kingsoft Cloud Science and Technology Co., Ltd. 

Seal of Beijing Kingsoft Cloud Science and Technology Co., Ltd. 

Signature of Authorized Representative: /s/ ZHANG Hongjiang 

Name of Authorized Representative: ZHANG Hongjiang 
 Title of
Authorized Representative: Legal Representative 
 [Corporate Seal] 

Signature page 

  
 28 

 (This is the signature page of Assets and Business Transfer Agreement, and the remainder of this page is
intentionally left blank) 
 In witness whereof, the parties hereto have caused this Agreement to be signed by their respective authorized representative on
the date written above. 
 Transferee: Shenzhen Xunlei Networking Technologies Co., Ltd. 

Seal of Shenzhen Xunlei Networking Technologies Co., Ltd. 

Signature of Authorized Representative: /s/ WU Jiang 

Name of Authorized Representative: WU Jiang 
 Title of Authorized
Representative: Authorized Signatory 
 [Corporate Seal] 

Signature page 

  
 29 

 Annex 1 

List of Contracts to be Transferred 

(not applicable) 

 Annex 2 

List of Fixed Assets to be Transferred 

 Annex 3(A) 

List of Intangible Assets to be Transferred 

I. Trademarks and Trademark Applications 
 A.
Trademarks 
  

									
	1.		2.		3.				
					
	

		

		

				

 B. Trademark Applications 
  

									
	1.		2.		3.		4.		5.
					
	

		

		

		

		

 II. Domain Names 
 1. 

Kuaipan.cn 
 III. Software Copyrights 

 

									
	1.		2.		3.		4.		5.
	 T Pan
 V1.0.0.289
		 Kingsoft
 Kuaipan V1.0
		Kuaipan V1.0		 Kingsoft
 Kuaipan V2.0
		 Kingsoft
 Kuaipan 1.0

  

									
	6.		7.		8.		9.		10.
	 Kingsoft
 Kuaipan 2.0
		 Xiaomi
 Wungpan V1.0
		 Kingsoft
 Yunqiangce

V1.0
		 Kansunzi I
 V1.0
		 Kansunzi A
 V1.0

							
	11.		12.		13.		14.
	 Kuaipan PC
 V1.21.0.1590
		 Kuaipan Android
 V1.9.5
		 Kuaipan iPad
 V3.8
		 Kuaipan iPhone
 V2.6

 IV. Patent Application 

1. 
 Device to share 

sources 

 Annex 3(B) 

I. Patents and Patent Applications 
 A. Patent

  

	
	1.
	 Client and
 method to show

file status on
 cloud

 B. Patent Applications 
  

									
	1.		2.		3.		4.		5.
	 Means, device
 and terminal

equipment to
 transfer files

between
 terminal

equipment and
 server
		 Means,
 terminal

equipment,
 cloud server

and system to recommend the installation of
 software
		 Means, client,
 server,

terminal and
 system to sync

data
		 Means, server,
 client and

terminal
 equipment to

sync files
		 System and
 means to

prioritize the
 update of

certain files

					
	6.		7.		8.		9.		10.
	 Means and
 system to log

on real time
 online storage

service via
 instant

messenger
 software
		 System and
 means to

transfer files
		 System and
 means to

transfer files
		 System and
 means to

transfer files
		 System and
 means to

transfer files

					
	11.		12.		13.		14.		15.
	 Means and
 setup of link

to jump to the
 content from

the table of
 content
		 Means, client,
 server and

equipment to
 sync files
		 Means, client,
 server and

equipment to
 process data
		 Means, device,
 client, server

and equipment
 to sync files
		 Means, device,
 client, server

and equipment
 to sync files

					
	16.		17.		18.
	 Two-dimensional
 code process,

client, electronics
 equipment,

server terminal
 and server.
		 Means, device,
 system, mobile

and registration
 server to

expedite the
 registration
		 Multi-language
 means and

system of source
 code

 II. Trademark 
 1. 

 
 

 

 Annex 4 

List of Employees to be Transferred 

 Annex 5 

Three Parties Agreement Template 

 Annex 6 

Template Labor Contract 
 (issued
by the Shenzhen Bureau of Labor and Social Security) 

 Annex 7 

Template Employee Confidentiality and Non-Compete Agreements 

 Annex 8 

List of Documents Related to Asset Transfer 

 Annex 9 

List of Documents Related to Transfer of Business 

 Annex 10 

List of Documents Related to the Employees Being Transferred 

 Annex 11 

Disclosure Letter 

 Annex 12 

List of Confidentiality Agreements and Related Contracts 

 Annex 13 

Patents 
  

									
	1.		2.		3.		4.		5.
	 Means and
 system to

encrypt and
 decrypt the

encoded files
		 Means and
 system to

manage user’s
 receiving files
		 Means and
 system to

automatically
 tag files

according to the file
 signatures
		 Means and
 system to

share data
 based on

location
 service
		 Means, system
 and device to

share files to
 other clients

outside the
 circle

  

									
	6.		7.		8.		9.		10.
	 Means, system,
 cloud server

and terminal to
 download files

cross terminals
		 Means, device
 and client

equipment to
 download

media files
		 Means and
 device to

process data
		 Means to
 identify

Internet user
		 File processing
 means and data

processing
 device

  

									
	11.		12.		13.		14.		15.
	 Means and
 system to

download files
		 Means, client
 equipment and

server to
 process data
		 Means and
 device to

manage
 Android files
		 Means and
 system to

transfer and
 open files

among
 multi-devices
		 Identification
 means between

server and
 client

  

									
	16.		17.		18.		19.		20.
	 Means, server
 and client

equipment to
 update the

process
		 Means and
 system to

restore the
 deleted files
		 Means and
 device of

rollback
		 Means and
 system to

obtain the
 prototype

number of an
 Android

mobile phone
		 Means and
 device to

obtain specific
 source on the

Internet

  

									
	21.		22.		23		24.		25.
	 Means and
 system to sync

files on the
 online storage
		 Means, device
 and mobile

equipment to
 interact
		 Means and
 system to

transfer data
 instantly
		 Means and
 system of

smooth flow
 control
		 System and
 means to

realize single
 sign-on.

									
	26.		27.		28.		29.		30.
	 Means to
 update the

wireless
 terminal

program
		 Means and
 device to

backup data
		 Means and
 device to

download data
		 Means and
 system to sync

online storage
 via authorized

management
		 Means and
 system of cache

synchronization
 of online storage

  

									
	31.		32.		33.		34.		35.
	 Means and
 system to sync

online storage
		 System, device
 and means to

share files
		 Means and
 system to

manage data
 security
		 Means and
 system to

instantly
 transfer data

among mobile
 devices
		 Means and
 device to

protect user’s
 data

  

									
	36.		37.		38.		39.		40.
	 Means and
 system to

resolve
 conflicts

among files in
 the cloud

storage system
		 Means to sync
 files on the

mobile
 devices
		 Means and
 device to

manage mobile
 application

configuration
 information
		 Means and
 system to

switch
 between files

on the mobile
 terminal
		 Means, device
 and mobile

terminal to
 move data on

the mobile
 terminal

					
	41.		42.		43.				
	 Means, device
 and client to start

the application
		 Means and cloud
 storage system to

show the
 selectively

synced files at
 the client
		 Means and
 system to encrypt

the account
 informationExhibit 10.1

EMPLOYMENT CONTRACT

THIS EMPLOYMENT CONTRACT dated this 5th day of April, 2015

BETWEEN:

Net savings Link NSAV DBA Global Distribution of 4747- 20 Nesconset Highway Port Jefferson, NY

11776

(the "Employer")

OF THE FIRST PART

-AND-

David M. Pecoraro ###-##-#### of 454 Harshberger Rd Ste 1 Johnstown Pa 15905

(the "Employee")

OF THE SECOND PART

BACKGROUND:

	A.	The Employer is of the opinion that the Employee has the necessary qualifications, experience and abilities to assist and benefit the Employer in its business.

	B.	The Employer desires to employ the Employee and the Employee has agreed to accept and enter such employment upon the terms and conditions set OUT IN this Agreement.

IN CONSIDERATION OF the matters described above and of the mutual benefits and obligations set forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the parties to this Agreement agree as follows:

Commencement Date and Term

	1.	The Employee will commence permanent full-time employment with the Employer on the 5th day of April, 2015 (the "Commencement Date").

Page 1 of 14

	
Employment Contract

	
Page 2 of 14

Job Title and Description

	2.	The Employer agrees to employ the Employee as a Vice President of Operations. The Employee will be expected to perform the following job duties:

The day to day functions of the company to involve Customer and investor relations.  Daily accounting and over-site of the the financials and budgeting for the company. New company acquisitions and contact between the subsidiaries. Funding and corporate filings and other duties as Steven Baritz deems for this important position.

	3.	The Employee agrees to be employed on the terms and ·conditions set out in this Agreement. The Employee agrees to be subject to the general supervision of and act pursuant to the orders, advice and direction of the Employer.

	4.	The Employee will perform any and all duties that are reasonable and that are customarily performed by a person holding a similar position in the industry or business of the Employer.

	5.	The Employer cannot unilaterally and significantly change the Employee1s job title or duties. The Employer may make changes to the job title or duties of the Employee where the changes would be considered reasonable for a similar position in the industry or business of the Employer. The Employee's job title or duties may be changed by agreement and with the approval of both the Employee and the Employer.

	6.	The Employee agrees to abide by the Employer's rules, regulations, and practices, including those concerning work schedules, vacation and sick leave, as they may from time to time be adopted or modified.

Employee Compensation

	7.	Compensation paid to the Employee for the services rendered by the Employee as required by this Agreement (the "Compensation") will consist of a salary of $79,000.00 (USD) per year plus any compensation paid for Overtime Hours plus a commission according to the following commission formula:

	
-

	
Stock and incentive programs that will be added as the function increase and voted on by the board.

Sign on bonus of 1.75 million preferred shares for the development of the business plan and an issuance of 10,000,000 NSAV shares of common stock from the closing of the IR Agreement signed in September 2014.

	
Employment Contract

	
Page 3 of 14

Annual Review for raises and contract signing.

Additional shares as the directors vote in board meeting for additional new companies.

	8.	This Compensation will be payable according to employer's policy while this Agreement is in force. The Employer is entitled to deduct from the Employee's Compensation, or from any other compensation in whatever form, any applicable deductions and remittances as required by law.

	9.	The Employee understands and agrees that any additional compensation paid to the Employee in the form of bonuses or other similar incentive compensation will rest in the sole discretion of the Employer and that the Employee will not earn or accrue any right to incentive compensation by reason of the Employee's employment.

	10.	In cases where Overtime Hours are worked in a period, the Employer may provide, and the Employee may take, wholly or in part, time off with pay instead of overtime pay, by mutual agreement between the parties, as and where permitted by law.

	11.	The Employer will reimburse the Employee for all reasonable expenses, in accordance with the Employer's policy as in effect from time to time, including but not limited to, any travel and entertainment expenses incurred by the Employee in connection with the business of the Employer. Expenses will be paid within a reasonable time after submission of acceptable supporting documentation.

Place of Work

	12.	The Employee's primary place of work will be at the following location:

	
-

	
454 Harshberger Rd Ste 1 Johnstown Pa 15905.

	13.	The Employee will also be required to work at the following place or places:

	
-

	
I will be able to travel to work at all companies facilities and subsidiaries as the company grows. We will discuss a vehicle and other compensation for travel account at a later date. I will mostly work in all 48 US states and occasional trips to Canada and overseas.

	14.	The Employer will inform the Employee in advance of the Employee being required to work at other locations.

	
Employment Contract

	
Page 4 of 14

  

Employee Benefits

	15.	The Employee will be entitled to only those additional benefits that are currently available as described in the Employer's employment booklets and manuals or as required by law.

	16.	Employer discretionary benefits are subject to change, without compensation, upon the Employer providing the Employee with 60 days written notice of that change and providing that any change to those benefits is taken generally with respect to other employees and does not single out the Employee.

Vacation

	17.	The Employee will be entitled to three weeks of paid vacation each year during the term of this Agreement, or as entitled by law, whichever is greater.

	18.	The times and dates for any vacation will be determined by mutual agreement between the Employer and the Employee.

 

	
S.B.

	 	 
	
S. Baritz

	 	
D. Pecoraro

 

 

	19.	Upon termination of employment, the Employer will pay compensation to the Employee for any accrued and unused vacation days.  Maximum of 9 weeks.

Duty to Devote Full Time

	20.	The Employee agrees to devote full-time efforts, as an employee of the Employer, to the employment duties and obligations as described in this Agreement

Conflict of Interest

	21.	During the term of the Employee's active employment with the Employer, it is understood and agreed that any business opportunity relating to or similar to the Employer's actual or reasonably anticipated business opportunities (with the exception of personal investments in less than 5% of the equity of a business, investments in established family businesses, real estate, or investments in stocks and bonds traded on public stock exchanges) coming to the attention of the Employee, is an opportunity belonging to the Employer. Therefore, the Employee will advise the Employer of the opportunity and cannot pursue the opportunity, directly or indirectly, without the written consent of the Employer, which consent will not be unreasonably withheld.

	22.	During the term of the Employee's active employment with the Employer, the Employee will not, directly or indirectly, engage or participate in any other business activities that the Employer, in its reasonable discretion, determines to be in conflict with the best interests of the Employer

	
Employment Contract

	
Page 5 of 14

without the written consent of the Employer, which consent will not be unreasonably withheld.

Non-Competition

	23.	The Employee agrees that during the Employee's term of active employment with the Employer and for a period of three (3) years after the end of that term, the Employee will not, directly or indirectly, as employee, owner, sole proprietor, partner, director, member, consultant, agent, founder, co-venturer or otherwise, solely or jointly with others engage in any business that is in competition with the business of the Employer within any geographic area in which the Employer conducts its business, or give advice or lend credit, money or the Employee's reputation to any natural person or business entity engaged in a competing business in any geographic area in which the Employer conducts its business.

Non-Solicitation·

	24.	The Employee understands and agrees that any attempt on the part of the Employee to induce other employees or contractors to leave the Employer's employ, or any effort by the Employee to interfere with the Employer's relationship with its other employees and contractors would be harmful and damaging to the Employer. The Employee agrees that during the Employee's term of employment with the Employer and for a period of five (5) years after the end of that term, the Employee will not in any way, directly or indirectly:

		a.	Induce or attempt to induce any employee or contractor of the Employer to quit employment or retainer with the Employer;

		b.	Otherwise interfere with or disrupt the Employer's relationship with its employees and contractors;

		c.	Discuss employment opportunities or provide information about competitive employment to any of the Employer's employees or contractors; or

		d.	Solicit, entice, r hire away any employee or contractor of the Employer for the purpose of an employment opportunity that is in competition with the Employer.

	25.	This non-solicitation obligation as described in this section will be limited to employees or contractors who were employees or contractors of the Employer during the period that the Employee was employed by the Employer.

	
Employment Contract

	
Page 6 of 14

	26.	During the term of the Employee's active employment with the Employer, and for five (5) years thereafter, the Employee will not divert or attempt to divert from the Employer any business the Employer had enjoyed, solicited, or attempted to solicit, from its customers, prior to termination or expiration, as the case may be, of the Employee's employment with the Employer.

Confidential Information

	27.	The Employee acknowledges that, in any position the Employee may hold, in and as a result of the Employee's employment by the Employer, the Employee will, or may, be making use of, acquiring or adding to information which is confidential to the Employer (the "Confidential Information") and the Confidential Information is the exclusive property of the Employer.

	28.	The Confidential-Information will include all data and information relating to the business and management of the Employer, including but not limited to, proprietary and trade secret technology and accounting records to which access is obtained by the Employee, including Work Product, Computer Software, Other Proprietary Data, Business Operations, Marketing and Development Operations, and Customer Information.

	29.	The Confidential Information will also include any information that has_ been disclosed by a third party to the Employer and is governed by a non-disclosure agreement entered into between that third party and the Employer.

	30.	The Confidential Information will not include information that:

		a.	Is generally known in the industry of the Employer;

		b.	Is now or Subsequently becomes generally available to the public through no wrongful act of the Employee;

		c.	Was rightfully in the possession of the Employee prior to the disclosure to the Employee by the Employer;

		d.	Is independently created by the Employee without direct or indirect use of the Confidential Information; or

		e.	The Employee rightfully obtains from a third party who has the right to transfer or disclose it.

	
Employment Contract

	
Page 7 of 14

	31.	The Confidential Information will also not include anything developed or produced by the Employee during the Employee's term of employment with the Employer, including but not limited to, any intellectual property, process, design, development, creation, research, invention, know-how, trade name, trade-mark or copyright that:

		a.	Was developed without the use of equipment, supplies, facility or Confidential Information of the Employer;

		b.	Was developed entirely on the Employee's own time;

		c.	Does not result from any work performed by the Employee for the Employer; and

		d.	Does not relate to any actual or reasonably anticipated business opportunity of the Employer.

Duties and Obligations Concerning Confidential Information

	32.	The Employee agrees that a material term of the Employee's contract with the Employer is to keep all Confidential Information absolutely confidential and protect its release from the public.

The Employee agrees not to divulge, reveal, report or use, for any purpose, any of the Confidential Information which the Employee has obtained or which was disclosed to the Employee by the Employer as a result of the Employee's employment by the Employer. The Employee agrees that if there is any question as to such disclosure then the Employee will seek out senior management of the Employer prior to making any disclosure of the Employer's information that may be covered by this Agreement.

	33.	The Employee agrees and acknowledges that the Confidential Information is of a proprietary and confidential nature and that any disclosure of the Confidential Information to a third party in breach of this Agreement cannot be reasonably or adequately compensated for in money damages, would cause irreparable injury to Employer, would gravely affect the effective and successful conduct of the Employer's business and goodwill, and would be a material breach of this Agreement.

	34.	The obligations to ensure and protect the confidentiality of the Confidential Information imposed on the Employee in this Agreement and any obligations to provide notice under this Agreement will survive the expiration or termination, as the case may be, of this Agreement and will continue for a period of five (5) years from the date of such expiration or termination.

	
Employment Contract

	
Page 8 of 14

	35.	The Employee may disclose any of the Confidential Information:

		a.	To a third party where Employer has consented in writing to such disclosure; and

		b.	To the extent required by law or by the request or requirement of any judicial, legislative, administrative or other governmental body.

	36.	If the Employee loses or makes unauthorized disclosure of any of the Confidential Information, the Employee will immediately notify the Employer and take all reasonable steps necessary to retrieve the lost or improperly disclosed Confidential Information.

Ownership and Title to Confidential Information

	37.	The Employee acknowledges and agrees that all rights, title and interest in any Confidential Information will remain the exclusive property of the Employer. Accordingly, the Employee specifically agrees and acknowledges that the Employee will have no interest in the Confidential Information, including, without limitation, no interest in know-how, copyright, trade-marks or trade names, notwithstanding the fact that the Employee may have created or contributed to the creation of the Confidential Information.

	38.	The Employee waives any moral rights that the Employee may have with respect to the Confidential Information.

	39.	The Employee agrees to immediately disclose to the Employer all Confidential Information developed in whole or in part by the Employee during the Employee's term of employment with the Employer and to assign to the Employer any right, title or interest the Employee may have in the Confidential Information.  The Employee agrees to execute any instruments and to do all other things reasonably requested by the Employer, both during and after the Employee's employment with the Employer, in order to vest more fully in the Employer all ownership rights in those items transferred by the Employee to the Employer.

Return of Confidential Information

	40.	The Employee agrees that, upon request of the Employer or upon termination or expiration, as the case may be, of this employment, the Employee will turn over to the Employer all Confidential Information belonging to the Employer, including but not limited to, all documents, plans, specifications, disks or other computer media, as well as any duplicates or backups made of that Confidential Information in whatever form or media, in the possession or control of the Employee

	
Employment Contract

	
Page 9 of 14

      that:

		a.	May contain or be derived from ideas, concepts, creations, or trade secrets and other proprietary and Confidential Information as defined in this Agreement; or

		b.	Is connected with or derived from the Employee's employment with the Employer.

Contract Binding Authority

	41.	Notwithstanding any other term or condition expressed or implied in this Agreement to the contrary, the Employee will not have the authority to enter into any contracts or commitments for or on the behalf of the Employer without first obtaining the express written consent of the Employer.

Termination Due to Discontinuance of Business

	42.	Notwithstanding any other term or condition expressed or implied in this Agreement, in the event that the Employer will discontinue operating its business at the location where the Employee is employed, then, at the Employer's sole option, and as permitted by law, this Agreement will terminate as of the last day of the month in which the Employer ceases operations at such location with the same force and effect as if such last day of the month were originally set as the Termination Date of this Agreement.

Termination of Employment

	43.	Where the Employee has breached any reasonable term of this Agreement or where there is just cause for termination, the Employer may terminate the Employee's employment without notice, as permitted by law.

	44.	The Employee and the Employer agree that reasonable and sufficient notice of termination of employment by the Employer is the greater of three (3) months or any minimum notice required by law.

	45.	If the Employee wishes to terminate this employment with the Employer, the Employee will provide the Employer with notice of three (3) months. As an alternative, if the Employee co­ operates with the training and development of a replacement, then sufficient notice is given if it is sufficient notice to allow the Employer to find and train the replacement.

	
Employment Contract

	
Page 10 of 14

	46.	The Termination Date specified by either the Employee or the Employer may expire on any day of the month and upon the Termination Date the Employer will forthwith pay to the Employee any outstanding portion of the wage, accrued vacation and banked time, if any, calculated to the Termination Date.

	47.	Once notice has been given by either party for any reason, the Employee and the Employer agree to execute their duties and obligations under this Agreement diligently and in good faith through to the end of the notice period. The Employer may not make any changes to wages, wage rate, or any other term or condition of this Agreement between the time termination notice is given through to the end of the notice period.

Remedies

	48.	In the event of a breach or threatened breach by the Employee of any of the provisions of this Agreement, the Employee agrees that the Employer is entitled to a permanent injunction, in addition to and not in limitation of any other rights and remedies available to the Employer at law or in equity, in order to prevent or restrain any such breach by the Employee or by the Employee's partners, agents, representatives, servants, employees, and/or any and all persons directly or indirectly acting for or with the Employee.

Severability

	49.	The Employer and the Employee acknowledge that this Agreement is reasonable, valid and enforceable. However, if any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be changed in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

Notices

	50.	Any notices, deliveries, requests, demands or other communications required here will be deemed to be completed when hand-delivered, delivered by agent, or seven (7) days after being placed in the post, postage prepaid, to the parties at the following addresses or as the parties may later designate in writing:

Employer:

Name:           Net savings Link NSAV DBA Global Distribution

	
Employment Contract

	
Page 11 of 14

Address:    4747-20 Nesconset Highway Port Jefferson, NY 11776

Fax:                  (516) 250-9767

Email:            "Steven Baritz" <baritz.steven@gmail.com>,

Employee:

Name:           David M. Pecoraro ###-##-####

Address:    454 Harshberger Rd Ste 1 Johnstown Pa 15905

Fax:                  (814) 418-6648

Email:            davidpecoraro@stock:kush.com

Modification of Agreement

	51.	Any amendment or modification of this Agreement or additional obligation assumed by either party in connection with this Agreement will only be binding if evidenced in writing signed by each party or an authorized representative of each party.

Additional Terms

	52.	Cancellation of the Investors relations contract and issuance of 10 million commons shares of stock in Company from original restriction date of09/15/2014.

	53.	Bonuses paid in compliance with the directors bonus program and still to be developed.

Issuance of preferred shares of Company stock as each director's split on new company acquisitions.

Bonus for directors will be set soon and other preferred policies.

	54.	The salary will be deferred for a loan to the company until such time the company is able to pay with profits from the business.

The starting salary will be 1000.00 a week and the remainder paid in restricted shares of company stock as voted by the board,

At the completion of year one, this 1000.00 a week will be paid or upon the completion of the private placement or funding.

	55.	The company will take care of the costs of travel and include the paying of expenses as they occur for traveling for company business.

We will establish a policy for company cars and other programs to ease the burden on the directors.

At such time that the company has the ability, we will develop corporate cards for these expenses.

	
Employment Contract

	
Page 12 of 14

Governing Law

56.              This Agreement will be construed in accordance with and governed by the laws of the state of Nevada.

Definitions

57.               For the purpose of this Agreement the following definitions will apply:

		a.	"Overtime Hours" means the total hours worked in a day or week in excess of the maximum allowed, as defined by local statute, for a work day or a work week

		b.	'Work Product' means work product information, including but not limited to, work product resulting from or related to work or projects performed or to be performed for the Employer or for clients of the Employer, of any type or form in any stage of actual or anticipated research and development.

		c.	'Computer Software' means computer software resulting from or related to work or projects performed or to be performed for the Employer or for clients of the Employer, of any type or form in any stage of actual or anticipated research and development, including but not limited to, programs and program modules, routines and subroutines, processes, algorithms, design concepts, design specifications (design notes, annotations, documentation, flowcharts, coding sheets, and the like), source code, object code and load modules, programming,  program patches and system designs.

		d.	'Other Proprietary Data' means information relating to the Employer's proprietary rights prior to any public disclosure of such information, including but not limited to, the nature of the proprietary rights, production data, technical and engineering data, test data and test results, the status and details of research and development of products and services, and information regarding acquiring, protecting, enforcing and licensing proprietary rights (including patents, copyrights and trade secrets).

		e.	'Business Operations' means operational information, including but not limited to, internal personnel and financial information, vendor names and other vendor information (including vendor characteristics, services and agreements), purchasing and internal cost information, internal services and operational manuals, and the manner and methods of conducting the Employer's business.

	
Employment Contract

	
Page 13 of 14

	f.	'Marketing and Development Operations' means marketing and development information, including but not limited to, marketing and development plans, price and cost data, price and fee amounts, pricing and billing policies, quoting procedures, marketing techniques and methods of obtaining business, forecasts and forecast assumptions and volumes, and future plans and potential strategies of the Employer which have been or are being considered.

	g.	'Customer Information' means customer information, including but not limited to, names of customers and their representatives, contracts and their contents and parties, customer services, data provided by customers and the type, quantity and specifications of products and services purchased, leased, licensed or received by customers of the Employer.

	h.	'Termination Date' means the date specified in this Agreement or in a subsequent notice by either the Employee or the Employer to be the last day of employment under this Agreement. The parties acknowledge that various provisions of this Agreement will survive the Termination Date.

General Provisions

	58.	Time is of the essence in this Agreement.

	59.	Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.

	60.	No failure or delay by either party to this Agreement in exercising any power, right or privilege provided in this Agreement will operate as a waiver, nor will any single or partial exercise of such rights, powers or privileges preclude any further exercise of them or the exercise of any other right, power or privilege provided in this Agreement.

	61.	This Agreement will inure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns, as the case may be, of the Employer and the Employee.

	62.	This Agreement may be executed in counterparts. Facsimile signatures are binding and are considered to be original signatures.

	
Employment Contract

	
Page 14 of 14

	63.	This Agreement constitutes the entire agreement between the parties and there are no further items or provisions, either oral or written. The parties to this Agreement stipulate that neither of them has made any representations with respect to the subject matter of this Agreement except such representations as are specifically set forth in this Agreement.

IN WITNESS WHEREOF, the parties have duly affixed their signatures under hand and seal on this 5th day of April, 2015.

	
EMPLOYER:

	 
	 
	
Net savings Link NSAV DBA Global Distribution

	 	 
	 	 
	
Per:

	
STEVEN BARITZ                                                      (SEAL)

	 	
Steven Baritz C.E.O.

	 	 
	 	 
	 	 
	
EMPLOYEE:

	 	 
	 	 
	 	 
	
_____________________________________

	
David M. Pecoraro ###-##-####

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