Document:

EQUITY PLEDGE AGREEMENT

 

 

AMONG

 

BEIJING EZAGOO SHOPPING HOLDING
LIMITED

 

RUIYIN (SHENZHEN) FINANCIAL
LEASING LIMITED

 

CHANGSHA EZAGOO TECHNOLOGY LIMITED

 

AND

 

HUNAN EZAGOO ZHICHENG
INTERNET TECHNOLOGY LIMITED

 

 

 

 

 

 

 

 

 

July 20, 2018

    	 

    	 

    

EQUITY PLEDGE AGREEMENT

 

This EQUITY PLEDGE AGREEMENT (hereinafter, this "AGREEMENT")
is entered into in China as of July 20, 2018 by and among the following Parties:

 

 

		(1)	BEIJING EZAGOO SHOPPING HOLDING LIMITED (“BESH”)

 

ADDRESS: ROOM 308, FLOOR 3, BUILDING 3, NO.
46, DONGSIXI AVENUE, DONGCHENG DISTRICT, BEIJING CIT

 

UNIFIED SOCIAL CREDIT CODE: 91110116339693336B

 

		(2)	RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED (“RFLL”)

 

ADDRESS: ROOM 201, BUILDING A, NO. 1, QIANWANYI
ROAD, SHENGANG COOPERATIVE DISTRICT, QIANHAI, SHENZHEN CITY

 

UNIFIED SOCIAL CREDIT CODE: 91440300MA5DFU2A6H

 

(3) CHANGSHA EZAGOO TECHNOLOGY LIMITED (“CETL”)

 

REGISTERED ADDRESS: ROOM 201, BUILDING 5, NANFENG
SHIGUANGYUAN, NO.168 TONGZIPO WEST ROAD, YUELU DISTRICT, CHANGSHA, HUNAN 410205, CHINA

 

UNIFIED SOCIAL CREDIT CODE: 91430100MA4PQE488X

 

		(4)	HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED ("HEZL")

 

REGISTERED
ADDRESS: YIJIAREN BUSINESS HOTEL NO. 168, UNIFIED
SOCIAL CREDIT CODE:

 

TONGZIPO WEST ROAD, YUELE DISTRICT, CHANGSHA, HUNAN
410205, CHINA

 

UNIFIED SOCIAL CREDIT CODE: 91430100395212760W

 

(The above parties shall hereinafter be
individually referred to as a "PARTY" and collectively, "PARTIES". BESH and RFLL shall hereinafter referred
to as an “PLEDGOR” individually, and collectively, the “PLEDGORS”: CETL hereinafter referred to as “PLEDGEE”.)

 

WHEREAS:

 

(1)  
As of the date of this Agreement, BESH and RFLL are the enrolled Shareholder of HEZL, legally holding all the equity in
HEZL, of which BESH holding 80% interest, RFLL holding 20%.

 

(2)  
Pursuant to the Call Option Agreement dated as of JULY 20, 2018 among CETL, HEZL and the Pledgor (hereinafter, the "CALL
OPTION AGREEMENT"), the Pledgor shall transfer part or all of the equity interest of the HEZL to CETL and/or any other entity
or individual designated by CETL at the request of the CETL.

 

(3)  
Pursuant to the Shareholders' Voting Right Proxy Agreement dated as of JULY 20, 2018 among
CETL, HEZL and the Pledgor (hereinafter, the "PROXY AGREEMENT"), Pledgor has already irrevocably entrusted the personnel
designated by CETL then with full power to exercise on his behalf all of his shareholders' voting rights in HEZL.

 

(4) Pursuant to the Management
Services Agreement dated as of JULY 20, 2018 among CETL and HEZL (hereinafter, the "SERVICE AGREEMENT"), HEZL has already
engaged CETL exclusively to provide them with relevant management and consultation and other services, for which the HEZL will
respectively pay CETL services accordingly.

    	 

    	 

    

 

(5) 
As security for performance by the Pledgor of the Contract Obligations (as defined below)
and repayment of the Guaranteed Liabilities (as defined below), the Pledgor agrees to pledge all of his HEZL Equity to the Pledgee
and grants the Pledgee the right to request for repayment in first priority and HEZL agrees such equity pledge arrangement.

 

THEREFORE, the Parties hereby have reached the following agreement
upon mutual consultations:

 

ARTICLE 1 - DEFINITION

 

1.1 Except as otherwise construed in the
context, the following terms in this Agreement shall be interpreted to have the following meanings:

 

"CONTRACT OBLIGATIONS" shall
mean all contractual obligations of Pledgor under the Call Option Agreement, Proxy Agreement and this Agreement; all contractual
obligations of HEZL under the Management Services Agreement, Call Option Agreement, Proxy Agreement and this Agreement.

 

"GUARANTEED LIABILITIES" shall
mean all direct, indirect and consequential losses and losses of foreseeable profits suffered by Pledgee due to any Breaching Event
(as defined below) of Pledgor, and all fees incurred by Pledgee for the enforcement of the Contractual Obligations of Pledgor.

 

"TRANSACTION AGREEMENTS" shall
mean the Call Option Agreement and the Proxy Agreement in respect of Pledgor; the Management Services Agreement, and Proxy Agreement
in respect of HEZL.

 

"BREACHING EVENT" shall mean
any breach by Pledgor of his Contract Obligations under the Proxy Agreement, Call Option Agreement or this Agreement; any breach
by HEZL of its Contract Obligations under the Service Agreement, Call Option Agreement and/or Proxy Agreement.

 

"PLEDGED PROPERTY" shall mean
all of the equity interests in HEZL which are legally owned by the Pledgor as of the effective date hereof and is to be pledges
by his to the Pledgee according to provisions hereof as the security for the performance by his and HEZL of their Contractual Obligations,
and the increased capital contribution and equity interest described in Articles 2.6 and 2.7 hereof;

 

"LAWS OF CHINA" shall mean the
then valid laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding
regulatory documents of China.

 

1.2 The references to any laws of China here in shall be deemed:

 

(1) 
to include the references to the amendments, changes, supplements and reenactments of such law, irrespective of whether
they take effect before or after the formation of this Agreement; and

 

(2)  to
include the references to other decisions, notices or regulations enacted in accordance therewith or effective as a result thereof.

 

1.3 Except as otherwise stated
in the context herein, all references to an Article, clause, item or paragraph shall refer to the relevant part of this Agreement.

 

ARTICLE 2 - EQUITY PLEDGE

 

2.1 Pledgor hereby agrees to pledge the
Pledged Property, which she legally owns and has the right to dispose of, to Pledgee according to the provisions hereof as the
security for the performance of the Contract Obligations and the repayment of the Guaranteed Liabilities. HEZL hereby agrees that
the Pledgor legally holding equity interest in it to pledge the Pledged Property to the Pledgee according to the provisions hereof.

 

2.2 Pledgor hereby undertakes that she
will be responsible for, recording the arrangement of the equity pledge hereunder (hereinafter, the "EQUITY PLEDGE")
on the shareholder register of HEZL on the date hereof, and will do its best endeavor to make registration with registration authorities
of industry and commerce of HEZL. HEZL

    	 

    	 

    

 

undertakes that it will do its
best to cooperate with the Pledgor to complete the registration with authorities of industry and commerce under this Article.

 

2.3 During the valid term of this
Agreement, except for the willful misconduct or gross negligence of Pledgee which has direct cause and effect relationship the
reduction in value of the Pledged Property, Pledgee shall not be liable in any way to, nor shall Pledgor have any right to claim
in any way or propose any demands on Pledgee, in respect of the said reduction in value of the Pledged Property.

 

2.4 To the extent not violating
provision of Article 2.3 above, in case of any possibility of obvious reduction in value of the Pledged Property which is sufficient
to jeopardize Pledgee's rights, Pledgee may at any time auction or sell off the Pledged Property on behalf of Pledgor, and discuss
with Pledgor to use the proceeds from such auction or sale-off as pre-repayment of the Guaranteed Liabilities, or may submit such
proceeds to the local notary institution where Pledgee are domiciled (any fees incurred in relation thereto shall be borne by Pledgor).

 

2.5 CETL as Pledgee shall be deemed to
have created the encumbrance of first order in priority on the Pledged Property, and in case of any Breaching Event, Pledgee shall
have the right to dispose of the Pledged Property in the way set out in Article 4 hereof.

 

2.6 Only upon prior consent by
Pledgee shall Pledgor be able to increase their capital contribution to any or all of the HEZL. Further capital contribution made
by Pledgor in HEZL shall also be part of the Pledged Property.

 

2.7 Only upon prior consent by
Pledgee shall Pledgor be able to receive dividends or share profits from the Pledged Property. The dividends or the profits received
by Pledgor from the Pledged Property shall be deposited into Pledgee's bank account designated by Pledgee respectively, to be under
the supervision of Pledgee and used as the Pledged Property to repay in priority the Guaranteed Liabilities.

 

2.8 Pledgor agrees to bear liabilities
to Pledgee upon occurrence of any Breaching Event on the HEZL and Pledgee shall have the right, upon occurrence of the Breaching
Event, to dispose of any Pledged Property of either of Pledgor in accordance with the provisions hereof.

 

ARTICLE 3 - RELEASE OF PLEDGE

 

In respect of equity interest of
HEZL, upon full and complete performance by Pledgor of all of his Contractual Obligations, Pledgee shall, at the request of Pledgor,
release the pledge created on HEZL under this Agreement, and shall cooperate with Pledgor to go through the formalities to cancel
the record of the Equity Pledge in the shareholder register of HEZL, with the reasonable fees incurred in connection with such
release to be borne by Pledgee with the same proportion.

 

ARTICLE 4 - DISPOSAL OF THE PLEDGED
PROPERTY

 

4.1 Pledgor, HEZL and Pledgee hereby
agree that, in case of any Breaching Event, Pledgee shall have the right to exercise, upon giving written notice to Pledgor, all
of the remedial rights and powers enjoyable by them under laws of China, including but not limited to being repayment in priority
with proceeds from auctions or sale-offs of the Pledged Property. Pledgee shall not be liable for any loss as the result of their
reasonable exercise of such rights and powers.

 

4.2 Pledgee shall have the right
to designate in writing its legal counsel or other agents to exercise on their respective behalf any and all rights and powers
set out above, and neither Pledgor nor HEZL shall oppose thereto.

 

4.3 The reasonable costs incurred
by Pledgee in connection with their exercise of any and all rights and powers set out above shall be borne by Pledgor, and Pledgee
shall have the right to deduct the costs actually incurred from the proceeds that they acquire from the exercise of the rights
and powers.

 

4.4 The proceeds that Pledgee acquire
from the exercise of their respective rights and powers shall be used in the priority order as follows:

    	 

    	 

    

 

-  First,
to pay any cost incurred in connection with the disposal of the Pledged Property and the exercise by Pledgee of their respective
rights and powers (including remuneration paid to their respective legal counsels and agents);

 

		-	Second, to pay any taxes and levies payable for the disposal of the Pledged Property; and

 

		-	Third, to repay Pledgee for the Guaranteed Liabilities.

 

In case of any balance after payment of
the above amounts, Pledgee shall return the same to Pledgor according to the relevant laws and rules or submit the same to the
local notary institution where Pledgee are domiciled (any fees incurred in relation thereto shall be borne by Pledgor).

 

 

 

 

ARTICLE 5 - FEES AND COSTS

 

All costs actually incurred in connection
with the establishment of the Equity Pledge hereunder, including but not limited to stamp duties, any other taxes, all legal fees,
etc shall be borne by Pledgee with the same proportion.

 

ARTICLE 6 - CONTINUITY AND NO WAIVE

 

The Equity Pledge hereunder is a continuous
guarantee, with its validity to continue until the full performance of the Contractual Obligations or the full repayment of the
Guaranteed Liabilities. Neither exemption or grace period granted by Pledgee to Pledgor in respect of their breach, nor delay by
Pledgee in exercising any of their rights under this Agreement shall affect the rights of Pledgee under this Agreement, relevant
laws of China, the rights of Pledgee to demand at anytime thereafter the strict performance of this Agreement by Pledgor or the
rights Pledgee may be entitled to due to subsequent breach by Pledgor of the obligations under this Agreement.

 

ARTICLE 7 - REPRESENTATIONS AND WARRANTIES BY PLEDGOR

 

Pledgor hereby represents and warrants to Pledgee as follows:

 

7.1 Pledgor is a
Chinese citizen with full capacity, with full and independent legal status and legal capacity to execute, deliver and perform
this Agreement, and may act independently as a litigant party. The Pledgor has full power and authorization to execute and deliver
this Agreement and all the other documents to be entered into by it in relation to the transaction referred to herein, and it has
the full power and authorization to complete the transaction referred to herein.

 

7.2 All reports, documents and information
concerning Pledgor and all matters as required by this Agreement which are provided by Pledgor to Pledgee before this Agreement
comes into effect are true, correct and effective in all material aspects as of the execution hereof.

 

7.3 At the time of the effectiveness of
this Agreement, Pledgor are the sole legal owner of the Pledged Property, with no existing dispute whatever concerning the ownership
of the Pledged Property. Pledgor has the right to dispose of the Pledged Property or any part thereof.

 

7.4 Except for the encumbrance
set on the Pledged Property hereunder and the rights set under the Transaction Agreements, there is no other encumbrance or third
party interest set on the Pledged Property.

 

7.5 The Pledged Property is capable of
being pledged or transferred according to the laws, and Pledgor has the full right and power to pledge the Pledged Property to
Pledgee according to this Agreement.

 

7.6 This Agreement constitutes the legal, valid and binding obligations
on Pledgor when it is duly executed by Pledgor.

 

7.7 Any consent, permission, waive or authorization
by any third person, or any approval, permission or exemption by any government authority, or any registration or filing formalities
(if required by laws) with any government

    	 

    	 

    

 

authority to be handled or obtained in
respect of the execution and performance hereof and the Equity Pledge hereunder have already been handled or obtained, and will
be fully effective during the valid term of this Agreement.

 

7.8 The execution and performance by Pledgor
of this Agreement are not in violation of or conflict with any laws applicable to them, or any agreement to which they are a party
or which has binding effect on their assets, any court judgment, any arbitration award, or any administration authority decision.

 

7.9 The pledge hereunder constitutes the encumbrance of first order
in priority on the Pledged Property.

 

7.10 All taxes and fees payable in connection
with acquisition of the Pledged Property have already been paid in full amount by Pledgor.

 

7.11 There is no pending or, to the knowledge
of Pledgor, threatened litigation, legal process or demand by any court or any arbitral tribunal against Pledgor, or their property,
or the Pledged Property, nor is there any pending or, to the knowledge of Pledgor, threatened litigation, legal process or demand
by any government authority or any administration authority against Pledgor, or their property, or the Pledged Property, which
is of material or detrimental effect on the economic status of Pledgor or their capability to perform the obligations hereunder
and the Guaranteed Liabilities.

 

7.12 Pledgor hereby warrants to Pledgee
that the above representations and warranties will remain true, correct and effective at any time and under any circumstance before
the Contractual Obligations are fully performed or the Guaranteed Liabilities are fully repaid, and will be fully complied with.

 

ARTICLE 8 - REPRESENTATIONS AND WARRANTIES

BY HEZL

 

HEZL hereby represents and warrants to Pledgee as follows:

 

8.1 HEZL is a limited liability corporation
duly incorporated and validly existing under laws of China, with full capacity of disposition and has obtained due authorization
to execute, deliver and perform this Agreement and can independently be a subject of actions.

 

8.2 All reports, documents and information
concerning Pledged Property and all matters as required by this Agreement which are provided by HEZL to Pledgee before this Agreement
comes into effect are true, correct and effective in all material aspects as of the execution hereof.

 

8.3 All reports, documents and information
concerning Pledged Property and all matters as required by this Agreement which are provided by HEZL to Pledgee after this Agreement
comes into effect are true, correct and effective in all material aspects upon provision.

 

8.4 This Agreement constitutes the legal, valid and binding obligations
on HEZL when it is duly executed by HEZL.

 

8.5 It has full right and authorization
to execute and deliver this Agreement and other documents relating to the transaction as stipulated in this Agreement and to be
executed by them. It also has full right and authorization to complete the transaction stipulated in this Agreement.

 

8.6 There is no pending or, to the knowledge
of HEZL, threatened litigation, legal process or demand by any court or any arbitral tribunal against HEZL, or their property (including
but are not limited to the Pledged Property), nor is there any pending or, to the knowledge of HEZL, threatened litigation, legal
process or demand by any government authority or any administration authority against HEZL, or their property (including but are
not limited to the Pledged Property), which is of material or detrimental effect on the economic status of HEZL or their capability
to perform the obligations hereunder and the Guaranteed Liabilities.

 

8.7 HEZL hereby warrants to Pledgee that
the above representations and warranties will remain true, correct and effective at any time and under any circumstance before
the Contractual Obligations are fully performed or the Guaranteed Liabilities are fully repaid, and will be fully complied with.

    	 

    	 

    

 

ARTICLE 9 - UNDERTAKINGS BY PLEDGOR

 

Pledgor hereby undertakes to Pledgee as follows:

 

9.1 Without the prior written consent by
Pledgee, Pledgor shall not establish or permit to establish any new pledge or any other encumbrance on the Pledged Property.

 

9.2 Without first giving written notice
to Pledgee and having Pledgee's prior written consent, Pledgor shall not transfer the Pledged Property, and any attempt by Pledgor
to transfer the Pledged Property shall be null and void. The proceeds from transfer of the Pledged Property by Pledgor shall be
used to repay to Pledgee in advance the Guaranteed Liabilities or submit the same to the third party agreed with Pledgee.

 

9.3 In case of any litigation, arbitration
or other demand which may affect detrimentally the interest of Pledgor or Pledgee under the Transaction Agreements and hereunder
or the Pledged Property, Pledgor undertake to notify Pledgee thereof in writing as soon as possible and promptly and shall take,
at the reasonable request of Pledgee, all necessary measures to ensure the pledge interest of Pledgee in the Pledged Property.

 

9.4 Pledgor shall not carry on or permit
any act or action which may affect detrimentally the interest of Pledgee under the Transaction Agreements and hereunder or the
Pledged Property.

 

9.5 Pledgor guarantees that they shall,
at the reasonable request of Pledgee, take all necessary measures and execute all necessary documents (including but not limited
to supplementary agreement hereof) in respect of ensuring the pledge interest of Pledgee in the Pledged Property and the exercise
and realization of the rights thereof.

 

9.6 In case of assignment of any Pledged
Property as the result of the exercise of the right to the pledge hereunder, Pledgor guarantee that they will take all necessary
measures to realize such assignment.

 

ARTICLE 10 - UNDERTAKINGS BY HEZL

 

10.1 Any consent, permission, waive or
authorization by any third person, or any approval, permission or exemption by any government authority, or any registration or
filing formalities (if required by laws) with any government authority to be handled or obtained in respect of the execution and
performance hereof and the Equity Pledge hereunder will be cooperated to handle or obtain by HEZL to their best and will be ensured
to remain full effective during the valid term of this Agreement.

 

10.2 Without the prior written consent
by Pledgee, HEZL shall not cooperate to establish or permit to establish any new pledge or any other encumbrance on the Pledged
Property.

 

10.3 Without having Pledgee's prior written
consent, HEZL shall not cooperate to transfer or permit to transfer the Pledged Property.

 

10.4 In case of any litigation, arbitration
or other demand which may affect detrimentally the interest of HEZL or Pledgee under the Transaction Agreements and hereunder or
the equity of HEZL as the Pledged Property, HEZL undertake to notify Pledgee thereof in writing as soon as possible and promptly
and shall take, at the reasonable request of Pledgee, all necessary measures to ensure the pledge interest of Pledgee in the Pledged
Property.

 

10.5 HEZL shall not carry on or permit
any act or action which may affect detrimentally the interest of Pledgee under the Transaction Agreements and hereunder or the
Pledged Property.

 

10.6 HEZL shall provide Pledgee with the
financial statement of the last calendar season within the first month of each calendar season, including but are not limited to
the balance sheet, the income statement and the statement of cash flow.

    	 

    	 

    

 

10.7 HEZL guarantee that they shall, at
the reasonable request of Pledgee, take all necessary measures and execute all necessary documents (including but not limited to
supplementary agreement hereof) in respect of ensuring the pledge interest of Pledgee in the Pledged Property and the exercise
and realization of the rights thereof.

 

10.8 In case of assignment of any
Pledged Property as the result of the exercise of the right to the pledge hereunder, HEZL guarantee that they will take all necessary
measures to realize such assignment.

 

ARTICLE 11 - ENCUMBRANCE OF FIRST ORDER IN
PRIORITY

 

11.1 CETL has the encumbrance of first
order in priority on any and all Pledged Property. Pursuant to the stipulations of the Transaction Agreement, any Breaching Event
under any Transaction Agreement shall result in the occurrence of Breaching Event under other Transaction Agreement, CETL shall
claim the pledge interest hereunder to Pledgor relevant to the Breaching Event, and be repaid in priority in the proportion of
their respective security amount from the proceeds obtained according to the disposal of Pledged Property stipulated in Article
4 hereof.

 

ARTICLE 12 - CHANGE OF CIRCUMSTANCES

 

12 As supplement and subject to compliance
with other terms of the Transaction Agreements and this Agreement, in case that at any time the promulgation or change of any laws
of China, regulations or rules, or change in interpretation or application of such laws, regulations and rules, or the change of
the relevant registration procedures enables Pledgee to believe that it will be illegal or in conflict with such laws, regulations
or rules to further maintain the effectiveness of this Agreement and/or dispose of the Pledged Property in the way provided herein,
Pledgor and HEZL shall, at the written direction of Pledgee and in accordance with the reasonable request of Pledgee, promptly
take actions and/or execute any agreement or other document, in order to:

 

		(1)	keep this Agreement remain in effect;

		(2)	facilitate the disposal of the Pledged Property in the way provided herein; and/or

		(3)	maintain or realize the intention or the guarantee established hereunder.

 

ARTICLE 13 - EFFECTIVENESS AND TERM OF THIS
AGREEMENT

 

13.1 This Agreement shall become effective upon this Agreement is
duly executed by Pledgor, HEZL and Pledgee

 

13.2 This Agreement shall have
its valid term until the full performance of the Contractual Obligations or the full repayment of the Guaranteed Liabilities.

 

ARTICLE 14 - NOTICE

 

14.1 Any notice, request, demand and other
correspondences made as required by or in accordance with this Agreement shall be made in writing and delivered to the relevant
Party.

 

14.2 The abovementioned notice or other
correspondences shall be deemed to have been delivered when it is transmitted if transmitted by facsimile or telex; it shall be
deemed to have been delivered when it is delivered if delivered in person; it shall be deemed to have been delivered five (5) days
after posting the same if posted by mail.

 

ARTICLE 15 – MISCELLANEOUS

 

15.1 Pledgee may, upon notice to Pledgor
but not necessarily with Pledgor' consent, assign Pledgee's rights and/or obligations hereunder to any third party; provided that
Pledgor may not, without Pledgee's prior written consent, assign Pledgor' rights, obligations and/or liabilities hereunder to any
third party. Successors or permitted assignees (if any) of Pledgor shall continue to perform the obligations of Pledgor under this
Agreement.

 

15.2 This Agreement shall be prepared
in English language.

 

15.3 The formation, validity, execution,
amendment, interpretation and termination of this Agreement shall be subject to laws of China.

    	 

    	 

    

 

15.4 Any disputes
arising from and in connection with this Agreement shall be settled through consultations among the Parties involved, and if the
Parties involved fail to reach an agreement regarding such a dispute within thirty (30) days of its occurrence, such dispute shall
be submitted to Kuala Lumpur Regional Centre for Arbitration for arbitration in Kuala Lumpur accordance with the arbitration rules
of such commission, and the arbitration award shall be final and binding on all the Parties involved.

 

15.5 Any rights, powers and remedies empowered
to any Party by any provisions herein shall not preclude any other rights, powers and remedies enjoyed by such Party in accordance
with laws and other provisions under this Agreement, and the exercise of its rights, powers and remedies by a Party shall not preclude
its exercise of its other rights, powers and remedies by such Party.

 

15.6 Any failure or delay by a Party in
exercising any of its rights, powers and remedies hereunder or in accordance with laws (hereinafter, the "PARTY'S RIGHTS")
shall not lead to a waiver of such rights, and the waiver of any single or partial exercise of the Party's Rights shall not preclude
such Party from exercising such rights in any other way and exercising the remaining part of the Party's Rights.

 

15.7 The titles of the Articles contained
herein shall be for reference only, and in no circumstances shall such titles be used in or affect the interpretation of the provisions
hereof.

 

15.8 Each provision contained herein shall
be severable and independent from each of other provisions, and if at any time any one or more articles herein become invalid,
illegal or unenforceable, the validity, legality or enforceability of the remaining provisions herein shall not be affected as
a result thereof.

 

15.9 This Agreement shall substitute any
other documents on the same subject executed by relevant Parties hereof once duly executed.

 

15.10 Any amendments or supplements to
this Agreement shall be made in writing. Except for assignment by Pledgee of its rights hereunder according to Article 15.1 of
this Agreement, the amendments or supplements to this Agreement shall take effect only when properly signed by the Parties to this
Agreement.

 

15.11 This Agreement shall be binding on the legal successors of
the Parties.

 

15.12 At the time of execution hereof,
Pledgor shall sign respectively a power of attorney (as set out in Appendix I hereto, hereinafter, the "POWER OF ATTORNEY")
to authorize any person designated by CETL to sign on his behalf according to this Agreement any and all legal documents necessary
for the exercise by Pledgee of CETL's rights hereunder. Such Power of Attorney shall be delivered to CETL to keep in custody and,
when necessary, CETL may at any time submit the Power of Attorney to the relevant government authority.

 

[The remainder of this page is left blank]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IN WITNESS HEREOF, the Parties have caused this Call Option Agreement
to be executed in China as of the date first herein above mentioned.

 

 

 

For and on behalf of

BEIJING EZAGOO SHOPPING HOLDING LIMITED (Company chop)

 

	Signature by: 	 /s/Tan Xiaohao
	Name: 	 Tan Xiaohao
	Position: 	Authorized Representative

 

 

For and on behalf of

RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED (Company chop)

 

 

	Signature by: 	 /s/ Wan Weihong
	Name: 	 Wan Weihong
	Position: 	Authorized Representative

 

 

For and on behalf of

CHANGSHA EZAGOO TECHNOLOGY LIMITED (Company chop)

 

 

	Signature by: 	 /s/Tan Xiaohao
	Name: 	 Tan Xiaohao
	Position:  	Authorized Representative

 

For and on behalf of

HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED (Company chop)

 

 

 

	Signed by:	/s/ Zhang Qianwan
	Name:	 Zhang Qianwan
	Position: 	Authorized Representative

    	 

    	 

    

 

APPENDIX I:

 

FORMAT OF THE POWER OF ATTORNEY

 

I, _________________________, hereby entrusts
______________________, [with his/her identity card number ____________,] to be my authorized trustee to sign on my behalf all
legal documents necessary or desirous for CHANGSHA EZAGOO TECHNOLOGY LIMITED to exercise their rights under the Equity Pledge Agreement
between them, myself and HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED.

 

 

 

 

Signature:

Date:Loan Agreement

 

This Loan Agreement (this “Agreement”)
is executed on July 20, 2018 by and between CHANGSHA EZAGOO TECHNOLOGY LIMITED, a limited liability company formed under the laws
of China(the “Lender”) and BEIJING EZAGOO SHOPPING HOLDING LIMITED and RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED(the
“Representative”), all shareholders of HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED, a limited liability
company organized and existing under the laws of China (the “Company”). The Representative and the Lender are
collectively referred to herein as “the Parties” and individually “a Party”.

 

WHEREAS:

 

		1.	Representative is duly authorized by all the shareholders of the Company to secure a loan from the Lender for the purpose of
increasing the registered capital of the Company, and Lender agrees to extend such a loan;

 

		2.	CHANGSHA EZAGOO TECHNOLOGY LIMITED is the Lender. Pursuant to certain VIE agreements by and among
the all the shareholders of the Company, the Company and Lender, Lender effectively controls and assumed management of the business
activities of the Company and has the right to receive a service fee approximately equal to 100% of the Company’s net income.

 

NOW, THEREFORE, the Parties have
agreed to the terms and conditions with respect to the loan hereunder as follows:

 

1.       THE TOTAL PRINCIPAL
AMOUNT AND INTEREST

 

The total principal amount of the loan hereunder (the
“Loan”) is CNY$100,000 (the “Total Principal”), and the Loan shall be interest-free.

 

2.       USE OF PROCEEDS

 

The Representative shall use the
Total Principal for the sole purpose of increasing the registered capital of the Company.

 

3.       LOAN
DRAWDOWN

 

The Lender shall deposit the Total Principal
to a designated Company bank account, for the sole purpose of increasing the registered capital of the Company before December
31, 2018.

 

 

4.       LOAN REPAYMENT

 

Repayment of the Loan shall be deemed to
have occurred upon the earlier of (i) repayment of the Total Principal to the Lender by the Representative or (ii) when the Total
Principal is transferred to a bank account of the Company designated by the Lender to be used to increase the Company’s registered
capital.

 

5.       REPRESENTATIONS
AND WARRANTIES

 

The Lender and the Representative hereby
represent and warrant to the other Party that, as of the date of this Agreement, they are authorized to enter into this Agreement
and perform all of their respective rights and obligations under this Agreement and this Agreement is valid, binding and enforceable
against them in accordance with its terms.

 

6.       DEFAULT

    	 

    	 

    

 

In the event the Representative uses the
Total Principal other than in compliance with the terms of this Agreement, the Lender may, at its option, demand the repayment
in full of the Total Principal plus a penalty interest payment at the interest rate of 0.07% per day for the period of the Loan
until the Total Principal Amount is repaid in full.

 

7.       Governing Law and
Resolution of Disputes

 

7.1. The
execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes
shall be governed by the laws of China.

 

7.2. In
the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the
dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after
either Party's request to the other Party for resolution of the dispute through negotiations, either Party may submit the relevant
dispute to the count of China, in accordance with its then effective regulation. The arbitration shall be conducted in China, and
the language used in arbitration shall be either in Chinese or English. The arbitration award shall be final and binding on all
Parties.

 

8.       MISCELLANEOUS

 

8.1. The Parties shall take such additional actions as may be required
to carry out the terms of this Agreement.

 

8.2. This
Agreement shall inure to the benefit of, and shall be binding upon, the respective successors and permitted assigns of the Parties.
The Representative shall not transfer or assign any or all of its rights and obligations under this Agreement to any third party
without the prior written consent of Lender.

 

8.3. This
Agreement may be executed by the Parties in any number of counterparts, all of which together shall constitute one and the same
instrument.

 

8.4. This Agreement may be amended or supplemented only through
written agreement by the Parties.

 

 

 

 

[Signature pages follow]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IN WITNESS THEREFORE, the parties
hereto have caused this Agreement to be executed and delivered as of the date first above written.

 

	Representative:	 	 
	
        For and on behalf of

        BEIJING EZAGOO SHOPPING HOLDING LIMITED
	
        For and on behalf of 

        RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED

	By:	
         

        /s/Tan Xiaohao
	By:	
         

        /s/ Wan Weihong

	Name:	Tan Xiaohao	Name:	Wan Weihong
	Position: 	Authorized Representative	Position:	Authorized Representative
	 	 	 	 
	
         

        For and on behalf of

        CHANGSHA EZAGOO TECHNOLOGY LIMITED
	 	 
	By: 	
         

        /s/Tan Xiaohao
	 	 
	Name:	Tan Xiaohao	 	                                           
	Position: 	Authorized Representative

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}]]