Document:

Exhibit 10.1

 

FIRST AMENDMENT

TO

LEASE AGREEMENT

 

THIS FIRST AMENDMENT (“1st Amendment”)
to Lease Agreement is dated May 9, 2019, by and between FIRST INDUSTRIAL, L.P. (“Landlord”), and Clearfield,
Inc., a Minnesota corporation (“Tenant”).

 

RECITALS

 

WHEREAS Landlord and
Tenant entered into a certain Standard Form Industrial Building Lease dated September 9, 2014 (the “Lease”), pursuant
to which Tenant leased that certain space, as further described in the Lease (the “Premises”) in the building commonly
known as 7050 Winnetka Avenue North, Brooklyn Park MN 55428 (the “Building”) said Premises containing 70,771 rentable
square feet; and

 

WHEREAS, the Tenant
wishes to expand the amount of rentable square footage comprising the Premises, all on the same terms and conditions as stated
in the Lease, except as otherwise provided in this Amendment.

 

WITNESSETH

 

NOW, THEREFORE, in
consideration of the foregoing Recitals and the mutual covenants herein contained, Landlord and Tenant hereby agree as follows:

 

		1.	Recitals. The recitals set forth above are incorporated herein by this reference
with the same force and effect as if fully set forth hereinafter.

 

		2.	Capitalized Terms. Capitalized terms not otherwise defined herein shall have the
meaning ascribed to them in the Lease.

 

		3.	Expansion of Premises. From and after June 30, 2019 (the “Expansion Date”),
the Premises shall be expanded to include that certain 14,263 rentable square feet as depicted on Exhibit “A” attached
hereto and incorporated herein by this reference (the “Expansion Space”) such that the Premises shall be comprised
of 85,034 rentable square feet, in the aggregate. From and after the Expansion Date, Tenant’s Proportionate Share shall be
59.76%. From and after the Expansion Date, any references in the Lease to the Premises shall be deemed to mean the aggregate of
the Premises and the Expansion Space.

 

		4.	Base Rent. Tenant’s obligation to pay Base Rent and all other amounts due under
the Lease shall continue as set forth in the Lease for the Extended Lease Term, except that the Base Rent for the Premises shall
be calculated in accordance with the following: As of the Expansion Date, the Base Rent table in Section 2.2 of the Lease, is hereby
deleted in its entirety and the following Base Rent table is substituted in lieu of thereof:

 

Base Rental Payments

 

	Lease Period	Monthly Base Rent Expansion Space	Monthly Base Rent Current Space	Total Monthly Base Rent
	6/30/2019 – 2/29/2020	$6,153.00	$32,223.64	$38,376.64
	3/1/2020 – 2/28/2021	$6,322.38	$33,029.23	$39,351.61
	3/1/2021 – 2/28/2022	$6,496.84	$33,854.96	$40,351.80
	3/1/2022 – 2/28/2023	$6,676.54	$34,701.35	$41,377.89
	3/1/2023 – 2/29/2024	$6,861.62	$35,568.87	$42,430.49
	3/1/2024 – 2/28/2025	$7,052.26	$36,458.10	$43,510.36

 

Except with respect to the Base
Rent table, Section 2.2 of the Lease shall remain otherwise unmodified.

 

Estimated Additional Rent:
$ 26,289.68 per month.

 

    	 	-1-	 

     

    

 

		5.	Condition of Premises. Landlord represents and warrants to Tenant that the Expansion
Space and all mechanical systems and utilities serving the Expansion Space are in good condition and working order, free from all
material and latent defects, except as is otherwise expressly and specifically described in Exhibit B of this Amendment
(“Landlord Work”) with respect to any Landlord repairs. Landlord shall not be obligated to make any other repairs,
replacements or improvements (whether structural or otherwise) of any kind or nature to the Premises in connection with, or in
consideration of, this Amendment, except if and as specifically set forth in this Amendment.

 

		6.	Broker. Landlord covenants, warrants and represents that Colliers International was
the only broker to represent Landlord in the negotiation of this Amendment. Each party agrees to and hereby does defend, indemnify
and hold the other harmless against and from any brokerage commissions or finder’s fees or claims therefore by a party claiming
to have dealt with the indemnifying party and all costs, expenses and liabilities in connection therewith, including, without limitation,
reasonable attorneys’ fees and expenses, for any breach of the foregoing. The foregoing indemnification shall survive the
termination or expiration of the Lease.

 

		7.	Termination Option. The Termination Option as stated in the Lease shall also be applicable
to the Expansion Space, however the Termination Fee shall increase by $35,000.00 for a total of $249,012.48.

 

		8.	Early Access. From and after the execution of this First Amendment and continuing
up and until the Expansion Date (the “Early Access Period”), to the extent it does not interfere with the Landlord
Work, Tenant may enter into the Expansion Space for the sole purpose of completing Landlord-approved work to fixture the Expansion
Space for Tenant’s business operations, which shall be performed at Tenant’s sole cost and expense and shall be subject
to all applicable ordinances and building codes or other laws governing Tenant’s right to occupy or perform in the Expansion
Space prior to the Expansion Date.  Such entry into the Expansion Space shall also be subject to the requirements that (1)
prior to Tenant or any of the Tenant Parties obtaining access or entry to the Expansion Space, Tenant must first satisfy the Access
Conditions (as hereinafter defined), and (2) Tenant and any and all Tenant Parties shall not disturb the tenancies of any
tenants near the Expansion Space or unreasonably interfere with the business operations of such tenants.  Tenant agrees that
any such entry onto the Expansion Space during the Early Access Period shall be deemed to be under all of the terms, covenants,
conditions and provisions of the Lease (except as to the covenant to pay Rent).  Subject to Landlord’s indemnity under
Section 17.3 of the Lease, Tenant further agrees that Landlord shall not be liable in any way for any injury or death to
any person or persons, loss or damage to any of Tenant’s property at the Expansion Space or loss or damage to property placed
thereon prior to the Expansion Date, the same being at Tenant’s sole risk and expense.  Any such access or performance
in the Premises prior to the Commencement Date shall also be subject to (A) Tenant first providing to Landlord the Certificates
of Insurance required under Section 10.2 of the Lease (the conditions described in clause (A) are collectively referred
to herein as the “Access Conditions”). Tenant shall place all utilities into their name prior to the commencement
of the Early Access Period

 

		9.	Counterparts, Electronic Signature, Facsimile, PDF. This Amendment may be executed
in any number of identical counterparts, all of which, when taken together, shall constitute the same instrument. The parties acknowledge
and consent to be bound by electronic signatures, including signatures of any required witness. A facsimile or .pdf copy of this
Amendment shall be deemed an original for all relevant purposes.

 

		10.	Energy Usage at the Premises.  If Landlord is required by law to perform energy
benchmarking of the Premises, Tenant hereby authorizes Landlord to obtain information, from time to time throughout the Term, regarding
Tenant's utility and energy usage at the Premises directly from the applicable utility providers and Tenant shall execute, within
five (5) days of Landlord's request, any additional documentation required by any applicable utility provider evidencing such authorization. 
Further, throughout the Term, (i) within five (5) days of Landlord's request, Tenant shall provide to Landlord all requested information
regarding Tenant's utility, energy and space usage at the Premises, and (ii) upon Landlord's delivery to Tenant of
written request, Tenant shall deliver to Landlord copies of its utilities bills for the immediately preceding twelve (12) calendar
months.

 

    	 	-2-	 

     

    

 

		11.	Ratification.  Except as modified by this Amendment, the Lease shall remain
otherwise unmodified and in full force and effect and the parties ratify and confirm the terms of the Lease as modified by this
Amendment.  The Lease (as amended hereby) contains the entire agreement between Landlord and Tenant as to the Premises, and
there are no other agreements, oral or written, between Landlord and Tenant relating to the Premises.

 

		12.	Conflict.  Except as amended hereby, the Lease shall be and remain in full force
and effect.  In the event of any conflict between the terms of the Lease and the terms of this Amendment, the terms of this
Amendment shall control.

 

		13.	Tenant Operations Inquiry: Will Tenant be required to make filings and notices or
obtain permits as required by Federal and/or State regulations for the operations at the Premises? Specifically:

 

	a. SARA Title III Section 312 (Tier II) reports	YES	NO
	 	(> 10,000lbs. of hazardous materials STORED at any one time)	 	 
	b. SARA Title III Section 313 (Tier III) Form R reports	YES	NO
	 	(> 10,000lbs. of hazardous materials USED per year)	 	 
	c. NPDES or SPDES Stormwater Discharge permit	YES	NO
	 	(answer “No” if “No-Exposure Certification” filed)	 	 
	d. EPA Hazardous Waste Generator ID Number	YES	NO

 

List all Hazardous Materials
that will be used, stored, handled, generated and/or otherwise present at the Premises. Routine office and cleaning supplies are
not included. Make additional copies if required.

 

 

	Hazardous Materials	Approximate Annual Quantity Used or Generated	
        Storage Container(s)

        (i.e. Drums, Cartons, Totes, Bags, ASTs,
        USTs, etc)

	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 

[Signature Page Follows]

 

 

 

    	 	-3-	 

     

    

 

IN WITNESS WHEREOF, the
parties have executed this 1st Amendment the day and year first above written.

 

	 	LANDLORD:	 
	 	 	 	 	 
	 	First Industrial, L.P., a Delaware limited partnership	 
	 	By: First Industrial Realty Trust, Inc., a Maryland corporation,

 its sole general partner
	 	 	 	 	 
	 	 	 	 	 
	 	/s/ James B. Schlundt	 
	 	By: James B. Schlundt	 
	 	Its: Regional Manager/Market Leader	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	TENANT:	 
	 	 	 	 	 
	 	Clearfield, Inc., a Minnesota corporation	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	/s/ Cheri Beranek	 
	 	 	 	 	 
	 	Name:  	 Cheri Beranek	 
	 	 	 	 	 
	 	Its:	President and CEO	 

 

 

 

 

 

 

 

 

-4-Exhibit 4.6

 

EXECUTION VERSION 

 

THIS CONVERTIBLE LOAN AGREEMENT (the “Agreement”)
is made on April 25, 2019 BY AND BETWEEN: 

 

		(1)	Kaixin Auto Group an exempted company organized
under the law of the Cayman Islands (“Kaixin”);

 

		(2)	CM Seven Star Acquisition Corp., an exempted company
organized under the law of the Cayman Islands (“CM Seven Star”); and

 

		(3)	58.com Holdings Inc., a company organized under
the law of the British Virgin Islands (the “Investor”).

 

Kaixin, CM Seven Star and the Investor are referred
to herein collectively as the “Parties” and individually as a “Party.”

 

		1.	Definitions

 

“Bank Account” has the meaning ascribed to
it in Clause 2 hereof.

 

“Business Combination” means
the transactions contemplated under the Share Exchange Agreement, dated as of November 2, 2018, by and among CM Seven Star, Kaixin,
and Renren Inc.

 

“Business Day” means
any day other than a Saturday, Sunday or another day on which commercial banks in the PRC, Hong Kong or New York, New York are
required or authorized by law or executive order to close.

 

“
CM Seven Star Share” means an ordinary share, par value US$0.0001 per share, of CM Seven Star.

 

“
CM Seven Star Share Amount” means 100,000 CM Seven Star Shares.

 

“
Convertible Loan” has the meaning ascribed to it in Clause 3 hereof.

 

“
Event of Default” has the meaning ascribed to it in Clause 3(d) hereof.

 

“
Governmental Entity” means any court, administrative agency or commission or other governmental authority or instrumentality,
whether federal, state, local or foreign, or any applicable industry self-regulatory organization.

 

“PRC” means the People’s
Republic of China, for purposes of this Agreement only, not including Hong Kong, Macau and Taiwan.

 

“Principal Amount” means US$1,000,000.

    	 	 1	 

    

    

 

“Prospectus” has the meaning ascribed to
it in clause 9(h) hereof.

 

“Qualified Financing” means convertible debt
financings or other equity financings by Kaixin or CM Seven Star which can be converted into CM Seven Star Shares for a minimum
aggregate investment amount of US$30,000,000.

 

“Securities Act” means the Securities Act
of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Underwriters” has the meaning ascribed to
it in clause 9(h) hereof.

 

		2.	Convertible Loan and Closing

 

(a)            On
the terms and subject to the conditions set forth herein, the Investor will lend to Kaixin the Convertible Loan.

 

(b)           Subject
to the satisfaction (or, where permissible, waiver) of the conditions to the closing set forth in Clause 2(c) the closing shall
take place at the offices of Simpson Thacher & Bartlett, located at 35/F ICBC Tower, 3 Garden Road, Central, Hong Kong, or
such other location as agreed by the Parties in writing (the “Closing”), on April 29, 2019, or such other date
as agreed by the Parties in writing (the date on which the Closing actually occurs, the “Closing Date”). At
the Closing, the Investor will transfer the Principal Amount to Kaixin pursuant to Clause 3, and the rights of Investor set forth
in Clauses 3 and 4 shall become effective. If the Closing has not occurred by May 31, 2019, or such other date otherwise agreed
by Kaixin and Investor (the “Long Stop Date”), the Parties shall have no obligations whatsoever under this Agreement.

 

(c)            Closing
Conditions.

 

(i)            The obligation
of the Investor to consummate the Closing is subject to the fulfillment prior to or contemporaneously with the Closing of each
of the following conditions:

 

(A)             the representations and warranties
of each of Kaixin and CM Seven Star set forth in this Agreement shall be true and correct in all material respects as of the date
hereof and as of the Closing Date (except to the extent such representations and warranties are made as of a specified date, in
which case such representations and warranties shall be true and correct in all material respects as of such date);

 

(B)           each of
Kaixin and CM Seven Star shall have performed in all material respects all of its respective obligations required to be performed
by it at or prior to or contemporaneously with the Closing under this Agreement;

 

(C)            each of Investor’s, Kaixin’s
and CM Seven Star’s boards of directors shall have approved this Agreement and the transactions contemplated hereunder;

    	 	 2	 

    

    

 

(D)            Kaixin shall have completed
a Qualified Financing before or concurrently with the Business Combination; and

 

(E)
            no event, circumstance or change having occurred that, individually or in the aggregate with one or more other events, circumstances
or changes, have had or reasonably could be expected to have a material adverse effect on CM Seven Star, Kaixin or their respective
affiliates.

 

(ii)           The obligation
of Kaixin to consummate the Closing is subject to the fulfillment prior to or contemporaneously with the Closing of each of the
following conditions:

 

(A)            the representations and warranties
of each of Investor and CM Seven Star set forth in this Agreement shall be true and correct in all material respects as of the
date hereof and as of the Closing Date (except to the extent such representations and warranties are made as of a specified date,
in which case such representations and warranties shall be true and correct in all material respects as of such date);

 

(B)             each of
Investor and CM Seven Star shall have performed in all material respects all obligations required to be performed by it at or prior
to or contemporaneously with the Closing under this Agreement;

 

(C)             each of Investor’s, Kaixin’s
and CM Seven Star’s boards of directors shall have approved this Agreement and the transactions contemplated hereunder; and

 

(iii)         The obligation of CM Seven Star to consummate
the Closing is subject to the fulfillment prior to the Closing of each of the following conditions:

 

(A)             the representations and warranties
of the Investor and Kaixin set forth in this Agreement shall be true and correct in all material respects as of the date hereof
and as of the Closing Date (except to the extent such representations and warranties are made as of a specified date, in which
case such representations and warranties shall be true and correct in all material respects as of such date);

 

(B)             each of the Investor and Kaixin
shall have performed in all material respects all obligations required to be performed by it at or prior to or contemporaneously
with the Closing under this Agreement;

 

(C)             each of Investor’s, Kaixin’s
and CM Seven Star’s boards of directors shall have approved this Agreement and the transactions contemplated hereunder; and

 

    	 	 3	 

    

    

 

		3.	Convertible Loan

 

(a)           The
Investor hereby agrees to lend to Kaixin US$1,000,000 (One Million United States Dollars) (the “Convertible Loan”)
on the Closing Date and on the Closing Date will transfer such amount to the following bank account of Kaixin (the “Bank
Account”):

 

Beneficiary Name: Kaixin Auto Group

Beneficiary Account number: 8003098327

Bank Routing Number (domestic wires): 322070381

Bank Swift Code (international wires): EWBKUS66XXX

Bank Name: East West Bank

Bank Address: 135 N. Los Robles Ave, Suite 600, Pasadena,
CA 91101

 

Kaixin shall issue to the Investor a signed
acknowledgment of receipt of the Convertible Loan within five (5) Business Days of the Closing Date.

 

(b)           The
term of the Convertible Loan shall be from the Closing Date to the earlier of (i) in the event that the Business Combination has
not been consummated prior thereto, May 31, 2019 or (ii) the termination of the Business Combination (the “Maturity Date”).
Upon the Maturity Date, Kaixin shall immediately repay the entire outstanding Principal Amount of the Convertible Loan plus any
unpaid Interest accrued (if any). The term of the Convertible Loan may be extended by the Investor by delivering a written notice
to Kaixin before the Maturity Date (such date, the “Extended Maturity Date”).

 

The Convertible Loan
shall bear an annual interest rate on the Principal Amount outstanding in accordance with the loan interest rate stipulated by
the Peoples Bank of China for the corresponding period accruing from the Closing Date (the “Interest”); provided
that, in the event the conversion is consummated before the Maturity Date or the Extended Maturity Date, as the case may be, any
accrued interest will be waived and will not be payable.

 

In the event that Kaixin
fails to repay outstanding amounts under the Convertible Loan on the Maturity Date or the Extended Maturity Date, as applicable,
the Principal Amount outstanding under the Convertible Loan shall bear default interest, in additional to the Interest, calculated
after the Maturity Date or the Extended Maturity Date, at the simple interest rate of twenty percent (20%) per annum, up to the
date the Principal Amount of the Convertible Loan and all accrued but unpaid Interest are fully repaid.

 

(c)           Subject
to sub-paragraph (d) below and unless the Convertible Loan has otherwise been converted into the CM Seven Star Share Amount pursuant
to Clause 4 hereof, Kaixin shall not prepay any part of the Convertible Loan without the prior written consent of the Investor.

 

(d)           If
any one or more of the events of default set out in Schedule A hereto (each of them, an “Event of Default”)
shall occur before either of the Maturity Date or the conversion of the Convertible Loan pursuant to Clause 4 hereof, the Investor
may, by written notice to Kaixin:

 

		(i)	declare the Principal Amount and Interest accrued to
be immediately due and payable without further demand, notice or other legal formality of any kind; and/or

 

		(ii)	take such action as the Investor reasonably deems appropriate
to enforce the Investor’s rights, powers and remedies under this Agreement.

 

    	 	 4	 

    

    

 

Each of the other parties
hereto hereby agrees that CM Seven Star shall have no obligation to repay any amount due under the Convertible Loan, except pursuant
to Section 4 hereof. For the avoidance of doubt, the Investor may only look to Kaixin for repayment of the Convertible Loan, except
as specified in Section 4 of this Agreement.

 

		4.	Conversion

 

Each of the Parties agrees that, in the
absence of any Event of Default (or following the waiver of any Event of Default by Investor) and prior to the Maturity Date, the
Convertible Loan will automatically convert upon the consummation of Business Combination at any time prior to May 1, 2019. Within
five (5) Business Days of such consummation, CM Seven Star shall issue to the Investor the CM Seven Star Share Amount, as adjusted
for any share split, share dividend, share combination or consolidation, recapitalization, reclassification or other similar event
in relation to the share capital of CM Seven Star. For the avoidance of doubt, after any conversion pursuant to this Clause 4,
all right and title to the amount deposited with Kaixin under the Convertible Loan shall become that of Kaixin as consideration
for the CM Seven Star Shares, and Kaixin’s obligation to repay any principal amount of and interest on the Convertible Loan
shall be considered satisfied.

 

Upon the completion of the Business Combination,
CM Seven Star shall enter into a customary Registration Rights Agreement (the “Registration Rights Agreement”)
with the Investor, pursuant to which CM Seven Star will grant to Investor the right, subject to the terms and conditions of such
Registration Rights Agreement, to cause CM Seven Star to prepare and file with the Commission a registration statement with respect
to the CM Seven Star Shares underlying the CM Seven Star Units and use its reasonable best efforts to cause such registration statement
to become effective. CM Seven Star further confirms that, in connection with a demand registration pursuant to such Registration
Rights Agreement, all reasonable fees, costs and expenses of and incidental to such registration, inclusion and public offering
in connection therewith shall be borne by CM Seven Star, other than the applicable underwriting discounts and commissions and transfer
taxes.

 

		5.	Covenants

 

		(a)	Approvals and other actions.

 

		(i)	Following the date of this Agreement and prior to the Closing
Date, Kaixin will use commercially reasonable efforts to obtain, with respect to this Agreement and the transactions contemplated
hereby, the approval of its board of directors (if such approval has not already been obtained prior to the date of this Agreement).

 

		(ii)	Following the date of this Agreement and prior to the Closing
Date, CM Seven Star agrees will use commercially reasonable efforts to obtain, with respect to this Agreement and the transactions
contemplated hereby, the approval of its board of directors (if such approval has not already been obtained prior to the date
of this Agreement).

    	 	 5	 

    

    

 

		(iii)	Each Party agrees, upon reasonable request from another
Party, to furnish the other Party with all information concerning itself, its subsidiaries, affiliates, directors, officers, partners,
and shareholders and such other matters as may be reasonably necessary or advisable in connection with any statement, filing,
notice, or application made by or on behalf of such other Party or any of its subsidiaries to any Governmental Entity in connection
with this Agreement. Notwithstanding anything herein to the contrary, none of the Parties shall be required to furnish the other
Party with any (1) sensitive personal biographical or personal financial information of any of the directors, officers, employees,
managers or partners of the Investor or any of its affiliates, (2) proprietary and non-public information related to the organizational
terms of, or investors in, the it or its affiliates, or (3) any information that it reasonably deems private or confidential,
in each case, unless required for the use by another party for compliance with applicable laws or regulations.

 

		(b)	Covenants of Kaixin

 

		(i)	After the Closing Date, Kaixin shall cause the proceeds
of the Convertible Loan be used for business expansion, capital expenditures, investments or the general working capital of Kaixin
or its affiliates and any other purpose approved in writing by the Investor. For avoidance of doubt, without the prior written
consent of the Investor, the proceeds of the Loan shall not be used for the repayment of any debts of Kaixin or its affiliates;

 

		(ii)	Kaixin and its affiliates shall, comply in all material
respects with applicable laws, rules, regulations and orders, such compliance to include, without limitations, promptly obtaining
and maintaining all governmental approvals as are necessary for the operation of its business, and paying all taxes, assessments,
and government charges imposed upon it or upon its property;

 

		(iii)	Kaixin and its affiliates shall maintain its corporate
existence, licenses and privileges in good standing under and in compliance with all applicable laws and continue to operate the
business currently conducted by Kaixin and its affiliates;

 

		(iv)	Kaixin shall as soon as reasonably practicable notify the
Investor of the occurrence of any change, cancellation, suspension or termination of Business Combination;

 

		(v)	Kaixin shall as soon as reasonably practicable notify the
Investor of the occurrence of any material litigation, arbitration or administrative proceedings relating to the equity interest,
assets, or business of Kaixin and its subsidiaries (for the avoidance of doubt, the “subsidiaries” in this Agreement
shall include the subsidiaries controlled by Kaixin indirectly);

    	 	 6	 

    

    

 

		(vi)	Kaixin shall abide by the provisions of this Agreement
and not unreasonably undertake any action/omission that would reasonably be expected to adversely affect the effectiveness and
enforceability of this Agreement;

 

		(vii)	Kaixin and its subsidiaries shall not, prior to the completion
of the Business Combination, without the prior written consent of the Investor, enter into any merger or consolidation of Kaixin
or its subsidiaries with any person, or its acquisition of or investment in any person, other than, for the avoidance of doubt,
the Business Combination; and

 

		(viii)	in the event that any governmental registration, filing,
approval, consent, or order is necessary for the Investor to be qualified or authorized to acquire the CM Seven Star Shares, Kaixin
hereby undertakes, to take all commercially reasonable actions to assist the Investor in obtaining such governmental registration,
filing, approval, consent, or order in a timely manner.

 

(c) Each Party to this Agreement will hold,
and will cause its respective subsidiaries and their directors, officers, employees, agents, consultants, and advisors to hold,
in strict confidence, unless disclosure to any Governmental Entity is necessary in connection with any necessary regulatory approval
or unless compelled to disclose by judicial or administrative process or, in the written opinion of its counsel, by other requirement
of law or the applicable requirements of any Governmental Entity, all nonpublic records, books, contracts, instruments, computer
data and other data and information (collectively, “Information”) concerning the other Parties hereto furnished
to it by such other Party/Parties or their representatives pursuant to this Agreement (except to the extent that such information
can be shown to have been (1) previously known by such Party on a non-confidential basis, (2) in the public domain through no fault
of such Party, or (3) later lawfully acquired from other sources by the Party to which it was furnished), and no Party hereto shall
release or disclose such Information to any other person, except its auditors, attorneys, financial advisors, other consultants,
and advisors. If a Party is required to disclose any Information to a Governmental Entity in accordance with this Clause 5(c),
the disclosing Party shall notify the other Parties prior to making any such disclosure by providing the other Party with the text
of the disclosure requirement and draft disclosure at least 24 hours prior to making any such disclosure, and will narrow the draft
disclosure to the extent the other Party reasonably requests.

 

		6.	Kaixin Representations

 

Kaixin hereby represents and warrants to
the Investor that the following representations and warranties are true and correct as of the date of this Agreement and as of
the Closing Date:

 

(a)           Kaixin
is a company duly organized, validly existing and in good standing under the laws of the Cayman Islands, and has the power and
authority to own, lease and operate its properties and carry on its business as now conducted.

 

    	 	 7	 

    

    

 

(b)          The
execution, delivery and performance by Kaixin of this Agreement is within the power of Kaixin and, other than with respect to the
actions to be taken if and when equity is to be issued to the Investor, has been duly authorized by all necessary actions on the
part of Kaixin. This Agreement constitutes a legal, valid and binding obligation of Kaixin, enforceable against Kaixin in accordance
with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement
of creditors’ rights generally and general principles of equity. To the knowledge of Kaixin, it is not in violation of (i)
its current memorandum and articles of association, (ii) any material statute, rule or regulation applicable to Kaixin or (iii)
any material indenture or contract to which Kaixin is a party or by which it is bound, where, in each case, such violation or default,
individually, or together with all such violations or defaults, could reasonably be expected to have a material adverse effect
on Kaixin. The only corporate, governmental or other approvals required for the entry by Kaixin into this Agreement and the consummation
by Kaixin of the transactions contemplated hereby are the approval of Kaixin’s board of directors.

 

(c)          The
performance and consummation of the transactions contemplated by this Agreement do not and will not: (i) violate any  material judgment,
statute, rule or regulation applicable to Kaixin; (ii) result in the acceleration of any material indenture or contract to which
Kaixin is a party or by which it is bound; or (iii) result in the creation or imposition of any lien upon any property, asset or
revenue of Kaixin or the suspension, forfeiture, or nonrenewal of any material permit, license or authorization applicable to Kaixin,
its business or operations.

 

(d)           No
consents or approvals are required in connection with the performance of this Agreement by Kaixin, other than: (i) Kaixin’s
corporate approvals; (ii) any qualifications or filings under applicable securities laws, if any.

 

(e)           Except
as disclosed in the section headed “Kaixin Auto Group’s Business—Legal Proceedings” in CM Seven Star’s
proxy statement on Schedule 14A filed with the Securities Exchange Commission of the United States, as amended from time to time,
there is no action or proceeding pending or threatened against Kaixin and its subsidiaries before any court or administrative agency
which is likely to result in any material adverse change in the financial condition of Kaixin or the business or financial condition
of any of the Kaixin’s subsidiaries.

 

(f)            Since
the execution of the share exchange agreement among CM Seven Star, Kaixin and Renren Inc. on November 2, 2018, there is no material
adverse change in the Business Combination, including but not limited to any breach of the documents in connection with the Business
Combination by any party.

 

(g)          The
public disclosure during the process of Business Combination, in connection with the on the business, assets (including intangible
assets), liabilities, financial condition or otherwise, property, prospects or results of operations of Kaixin or on the ability
of Kaixin to perform its obligations under this Agreement, shall be true, complete, correct and not misleading when made and as
of the Closing with the same force and effect as if they have been made on and as of such date.

 

    	 	 8	 

    

    

 

		7.	CM Seven
                                         Star Representations

 

CM Seven Star hereby represents and warrants
to the Investor that the following representations and warranties are true and correct as of the date of this Agreement and as
of the Closing Date:

 

(a)           CM
Seven Star is a company duly organized, validly existing and in good standing under the laws of the Cayman Islands, and
has the power and authority to own, lease and operate its properties and carry on its business as now conducted.

 

(b)           The
execution, delivery and performance by CM Seven Star of this Agreement is within the power
of CM Seven Star and, other than with respect to the actions to be taken if and when equity
is to be issued to the Investor, has been duly authorized by all necessary actions on the part of CM
Seven Star other than obtaining the approval of CM Seven Star’s Board of Directors. This Agreement constitutes a legal,
valid and binding obligation of CM Seven Star, enforceable against CM
Seven Star in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application
relating to or affecting the enforcement of creditors’ rights generally and general principles of equity. To the knowledge
of CM Seven Star, it is not in violation of (i) its current memorandum and articles of association,
(ii) any material statute, rule or regulation applicable to CM Seven Star or (iii) any material
indenture or contract to which CM Seven Star is a party or by which it is bound, where, in
each case, such violation or default, individually, or together with all such violations or defaults, could reasonably be expected
to have a material adverse effect on CM Seven Star. The only corporate, governmental or other
approvals required for the entry by CM Seven Star into this Agreement and the consummation
by CM Seven Star of the transactions contemplated hereby are the approval of CM
Seven Star’s board of directors.

 

(c)           The
performance and consummation of the transactions contemplated by this Agreement do not and will not: (i) violate any material judgment,
statute, rule or regulation applicable to CM Seven Star; (ii) result in the acceleration of
any material indenture or contract to which CM Seven Star is a party or by which it is bound;
or (iii) result in the creation or imposition of any lien upon any property, asset or revenue of CM
Seven Star or the suspension, forfeiture, or nonrenewal of any material permit, license or authorization applicable to Kaixin,
its business or operations.

 

(d)           No consents
or approvals are required in connection with the performance of this

Agreement by CM Seven Star,
other than: (i) CM Seven Star’s corporate approvals; (ii) any qualifications or filings
under applicable securities laws, if any; and (iii) necessary corporate approvals for the authorization of CM
Seven Star Shares issuable pursuant to Clause 4 hereof.

 

(e)           There
is no action or proceeding pending or threatened against CM Seven Star and its affiliates before any court or administrative agency
which is likely to result in any material adverse change in the financial condition of Kaixin or the business or financial condition
of any of the Kaixin’s subsidiaries.

 

(f)            Since
the execution of the share exchange agreement among CM Seven Star, Kaixin and Renren Inc. on November 2, 2018, there is no material
adverse change in the Business Combination, including but not limited to any breach of the documents in connection with the Business
Combination by any party.

 

    	 	 9	 

    

    

 

		8.	Investor Representations

 

The Investor hereby represents and warrants to each of Kaixin
and CM Seven Star that the following representations and warranties are true and correct as of the date of this Agreement and as
of the Closing Date:

 

(a)           The
Investor is a corporation duly organized, validly existing and in good standing under the laws of British Virgin Islands,
and has the power and authority to own, lease and operate its properties and carry on its business as now conducted.

 

(b)           The
Investor has full legal capacity, power and authority to execute and deliver this Agreement and to perform its obligations hereunder.
This Agreement constitutes valid and binding obligation of the Investor, enforceable in accordance with its terms, except as limited
by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights
generally and general principles of equity. There are no Investor’s internal approvals required for the entry by the Investor
into this Agreement and the consummation by the Investor of the transactions contemplated hereby.

 

(c)           The
Investor is:

 

(i)            an
accredited investor as such term is defined in Rule 501 of Regulation D under the Securities Act. The Investor has been advised
that this Agreement and the underlying securities have not been registered under the Securities Act, or any state securities laws
and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless
an exemption from such registration requirements is available. The securities which may be acquired by the Investor hereunder are
for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution
thereof, and the Investor has no present intention of selling, granting any participation in, or otherwise distributing the same.
The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the
merits and risks of such investment and is able to bear the economic risk of such investment for an indefinite period of time;
and/or

 

(ii)           not
a “U.S. Person” and is acquiring the securities in an “offshore transaction” (each as defined in Rule 902
of Regulation S). The Investor is not acquiring the Subscription Securities as a result of any directed selling efforts (within
the meaning of Regulation S under the Securities Act) for the purpose of, or that could reasonably be expected to have the effect
of, conditioning the market in the United States for any of the securities being offered in reliance on Regulation S.

 

(d)           the
Investor believes it has received the information it considers necessary or appropriate for deciding whether to enter into this
Agreement. The Investor further represents that it has had an opportunity to ask questions and receive answers from the each of
Kaixin and CM Seven Star regarding this Agreement and the transactions contemplated hereunder as well as the business, properties,
prospects and financial condition of each of Kaixin and CM Seven Star. The foregoing, however, does not limit or modify the representations
and warranties of Kaixin and CM Seven Star in Clauses 6 and 7 of this Agreement.

    	 	 10	 

    

    

 

(e)           Investor
understands that the CM Seven Star Shares that may become issuable pursuant to this Agreement have not been and will not be registered
under the Securities Act, by reason of their issuance and allotment in a transaction exempt from the registration requirements
of the Securities Act, and that such CM Seven Star Shares, if issued to Investor, will be required to continue to be held by Investor
unless a subsequent disposition thereof is registered under the Securities Act or is exempt from such registration and in each
case in accordance with any applicable securities laws of any state of the United States.

 

		9.	Miscellaneous

 

		(a)	This Agreement will expire and terminate (without relieving
Kaixin, CM Seven Star or the Investor of any obligations arising from a prior breach of or non-compliance with this Agreement)
upon the issuance of the CM Seven Star Share Amount, as applicable, to the Investor pursuant to Clause 4 hereof.

 

		(b)	In the event of: (i) any breach or violation of, or inaccuracy
or misrepresentation in, any representation or warranty made by Kaixin and CM Seven Star contained herein in any material aspects;
or (ii) any breach or violation of any covenant or agreement of Kaixin or CM Seven Star contained herein (each of (i) or (ii),
a “Breach”), Kaixin and CM Seven Star shall severally indemnify the Investor and its affiliates, limited partners,
members, stockholders, employees, agents, representatives, assignees and transferees (each, an “Indemnitee”)
for any and all losses, liabilities, damages, liens, claims, obligations, penalties, settlements, deficiencies, costs and expenses,
including without limitation reasonable advisor’s fees and other reasonable expenses of investigation, defense and resolution
of any Breach paid, suffered, sustained or incurred by the Indemnitees resulting from, or arising out of, or due to, directly
or indirectly, any Breach.

 

		(c)	Any provision of this Agreement may be amended, waived
or modified only upon the written consent of each of the Parties.

 

		(d)	All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed given if sent by email and thereafter delivered personally or mailed by internationally
recognized overnight courier, postage prepaid, return receipt requested, to the following addresses set forth below or such other
address as Kaixin, CM Seven Star and the Investor shall provide to each other Parties in writing:

 

Kaixin: 

Kaixin Auto Group,

5/F, North Wing, 18 Jiuxianqiao Middle Road, Chaoyang
District,

Beijing 100016, People's Republic of China, attention:
Thomas Jintao Ren,

jintao.ren@renren-inc.com

 

CM Seven Star: 

CM Seven Star Acquisition Corporation 

Suite 1306, 13/F. AIA Central, 1 Connaught Road,
Central, Hong Kong

Attention: Sing Wang, Anthony Ho and Adrian Cheung

Tel: +852 3796 2750

    	 	 11	 

    

    

 

The Investor: 

58.com Holdings Inc. 

Building 101,#
10 Jiuxianqiao North Road Jia, Chaoyang District,

Beijing 100015, People's Republic of China, attention:
LI Xiaoyang,

lixiaoyang@58.com

 

(d)           The
Investor is not entitled, solely by virtue of entry into this agreement, to vote or receive dividends or be deemed the holder of
CM Seven Star Shares for any purpose, nor will anything contained herein be construed to confer on the Investor, as such, any of
the rights of a shareholder of CM Seven Star or any right to vote for the election of directors or upon any matter submitted to
shareholders at any meeting thereof, or to give or withhold consent to any corporate action or to receive notice of meetings, or
to receive subscription rights or otherwise until shares have been issued upon the terms described herein.

 

(e)           Neither
this Agreement nor the rights contained herein may be assigned, by operation of law or otherwise, by any Party without the prior
written consent of each of the others.

 

(f)            In
the event any one or more of the provisions of this Agreement is for any reason held to be invalid, illegal or unenforceable, in
whole or in part or in any respect, or in the event that any one or more of the provisions of this Agreement operate or would prospectively
operate to invalidate this Agreement, then and in any such event, such provision(s) only will be deemed null and void and will
not affect any other provision of this Agreement and the remaining provisions of this Agreement will remain operative and in full
force and effect and will not be affected, prejudiced, or disturbed thereby.

   

(g)           All
rights and obligations hereunder will be governed by the laws of the State of New York, without regard to the conflicts of law
provisions of such jurisdiction.

 

(h)           Waiver.
Reference is made to CM Seven Star’s final prospectus, dated October 25, 2017 (the “Prospectus”).

 

The other parties hereto
have read the Prospectus and understand that CM Seven Star has established the trust account described in the Prospectus, initially
in an amount of $180.0 million for the benefit of the public stockholders and the underwriters of CM Seven Star’s initial
public offering (the “Underwriters”) and that, except for certain exceptions described in the Prospectus, CM
Seven Star may disburse monies from the trust account only: (i) to the public stockholders in the event of the conversion of their
shares or the liquidation of CM Seven Star; or (ii) to CM Seven Star and the Underwriters after consummation of a business combination,
as described in the Prospectus.

 

For and in consideration
of CM Seven Star agreeing to enter into this Agreement, each of the other parties hereto hereby agrees that it does not have any
right, title, interest or claim of any kind in or to any monies in the trust account (the “Claim”) and hereby waives
any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with CM Seven
Star and will not seek recourse against the trust account for any reason whatsoever.

    	 	 12	 

    

    

 

IN WITNESS WHEREOF, the undersigned have caused this Convertible
Loan Agreement to be duly executed and delivered.

 

	 	KAIXIN AUTO GROUP
	 	 	 	 
	 	By:	/s/ Thomas Ren
	 	 	Name:	Thomas Ren
	 	 	Title: 	CFO
	 	 	 	 
	 	CM SEVEN STAR ACQUISITION 
	 	CORPORATION
	 	 	 	 
	 	By:	/s/ Sing Wang
	 	 	Name: 	Sing Wang
	 	 	Title: 	CEO & Director

 

    	 	 13	 

    

    

 

IN WITNESS WHEREOF, the undersigned have caused this Convertible
Loan Agreement to be duly executed and delivered.

 

	 	58.COM HOLDINGS INC,
	 	 	 	 
	 	By:	
	 	 	Name:	 
	 	 	Title: 	 

 

    	 	 14	 

    

    

 

SCHEDULE A 

 

EVENTS OF DEFAULT

 

Each of the following events shall be an Event of Default:

 

		(a)	Kaixin fails to pay any sum payable under this Agreement
when due or otherwise in accordance with the provisions hereof;

 

		(b)	CM Seven Star fails to issue and allot the CM Seven Star
Share Amount under this Agreement when due or otherwise in accordance with the provisions hereof;

 

		(c)	Kaixin or CM Seven Star fails to perform or observe or
comply with any of its obligations or covenants under this Agreement in any material respect;

 

		(d)	any representation or warranty made or deemed to be made
by Kaixin in this Agreement proves to have been incorrect or misleading in any material respect;

 

		(e)	Kaixin is in default under any material indebtedness and
such default is not remedied within fifteen (15) Business Days from the day such default occurred;

 

		(f)	a creditor takes possession of all or substantially all
of the assets of Kaixin, as the case may be, or any execution or other legal process is enforced against all or substantially
all of the assets of Kaixin and such possession or enforcement is not discharged within fifteen (15) Business Days;

 

		(g)	a petition is presented or a proceeding is commenced or
an order is made or an effective resolution is passed for the winding-up, insolvency, reorganization, reconstruction, dissolution
or bankruptcy of Kaixin or for the appointment of a liquidator, receiver, administrator, trustee or similar officer of Kaixin
which is not stayed or discharged within fifteen (15) Business Days;

 

		(h)	any litigation, arbitration or administrative proceeding
is commenced or threatened against any of Kaixin or its subsidiaries such that there is a material adverse impact on the ability
of Kaixin to perform its obligations under this Agreement;

 

		(i)	Kaixin stops or suspends payment to its creditors generally
or is unable to or admit its inability to pay their debts as they fall due or are declared or become bankrupt or insolvent;

 

		(j)	Kaixin transfers or distributes as a dividend any of the
proceeds of the Convertible Loan to any third party without the prior written consent of the Investor; or

 

		(n)	the occurrence of any material change of the assets or
capitalization of Kaixin or its subsidiaries before the consummation of the Business Combination.

 

    	 	 15

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