Document:

Exhibit 10.16

 

Equity for rent Agreement

 

Incubation number: (2016) No. 19

 

Party A: Shenzhen Chuangzhan Valley Innovation and Entrepreneurship
Center Co. , Ltd.

 

Legal representative: Xiao Shuilong

 

Residence: 2/F, Building 5C, software industry base, Nanshan
District, Shenzhen

 

Telephone number:

 

Contact: Cheng Honghong

 

Party b: Shenzhen Micro Time Information Technology Co. , Ltd.

 

Legal Representative: Tan Zhiyong

 

Residence: Room 201, building a, No. 1, Qianwan Road, Qianhai
Shenzhen-hong Kong Cooperation Zone,

 

Shenzhen

 

Telephone number: 0755-26916535

 

Contact: Tan Zhiyong

 

In view of:

 

party A is a large-scale comprehensive
start-up service organization under Shenzhen Chuangdongfang Investment Co. , Ltd. . By setting up a start-up platform,

 

Integrate innovation resources to provide comprehensive and
all-round nanny-like services for start-ups, including the contacts, funds and services needed for development policy and venue
resources;

 

Party B is a legally existing company and
undertakes to go through the legal formalities required to carry out the business as stipulated in this agreement.

 

A and B through friendly consultation,
for the joint cooperation project “micro-time” , in line with the principle of equality and mutual benefit, honesty
and credibility, sign this incubation agreement in order to abide by it together.

 

Article 1. General
situation of the project company

 

Location of the project company: Nanshan District, Shenzhen
City.

 

Project Company name: Shenzhen microtime Information Technology
Co. , Ltd.

 

The registered capital of the project company: 1029.0698 million,

 

Project Contact: Tan Zhiyong

 

Contact: 

 

Article 2. Incubation

 

Incubation period: 12 months, starting April 25,2017.

 

Party a shall provide the following incubation services to the
project company during the incubation period:

 

		(1)	office space, online and offline multi-financing advisory services, other free or
                                                                                                                            concessionary office support services,

 

      

     

    

 

The introduction of various superior resources;

 

 (2)   party a shall assist the project company in arranging business negotiations, financing plan design and other project financing matters, and facilitate the project company

 

Enter into investment agreements with investors:

   

 (3)   during the incubation period, party a shall assist the project company in promoting the smooth development of the project and shall provide the project company with superior resources free of charge or for a fee,

 

Including but not limited to market promotion, media publicity,
creative design, business planning, government preferential policies, tax agents, Useful Resources such as patent agents:

 

 (4)   party a shall provide the project company with 20 hours of use of the public meeting room per month, and shall charge a separate fee for the use of the more than 20 hours at the price set by party a:

 

 (5)   party a shall, within days after the signing of this agreement, provide the third floor of the office building, Building 5C, software industry base, Nanshan District, Shenzhen,

 

The housing code is 3D-2 and the Gross
leasable area is about 336 m2. For the project company for a period of 12 months, this office shall be used only for the purposes
of cooperation under this agreement and shall not be used for any other purposes:

 

 (6)   party a shall guide and manage the operation of the project company, organize and carry out the annual assessment, and supervise party B’s business activities in accordance with the law.

 

Incubation Service Fee Party a shall have the right to charge
party B a monthly incubation service fee of 52,080 yuan (52,008 yuan) for providing the incubation service to the project company
during the incubation period.

 

 4.   Terms of payment

 

Party A and party B agree that party a will receive 52,080 yuan
(capital: 52,000280 yuan) per month as consideration for the incubation service provided by party A to the project company during
the incubation period. Party B shall pay party a 28,000 yuan (capital: RMB 28,800 yuan) in cash each month, and the remaining part
of the incubation service fee shall be calculated on the basis of the 12-month incubation period, totaling 288960 and a half yuan
(capital: RMB 20,000,900 yuan) , party a shall have the right to acquire 0.3612% of the project company at Party B’s current
valuation of 80 million, and shall enjoy the right of first refusal.

 

 5.   In Paragraph 4 of Article 2, Party A’s 0.3612% equity of party B shall be responsible for the payment of the registered capital. Party B shall, within 30 days after the signing of this agreement, go through the registration procedures of the above-mentioned industrial and commercial change of equity transfer.

 

Article 3. Party A’s rights and
obligations

 

		1.	Party a shall provide incubation services as stipulated
in article 2 of this agreement to the project company during the incubation period.

 

		2.	Right to know: Party A has the right to be informed of the progress of the project company,

 

including financial statements and operating conditions, etc.
..

 

 3,   priority with the right to vote: in the Future Party B venture project development rounds of financing needs to absorb new shareholders or equity expansion, party A, Shenzhen Chuangdongfang Investment Co. , Ltd. and the investors and investment institutions introduced by party a enjoy 2% priority and investment rights under the same conditions.

 

 4、 if Party B’s project fails and Party B’s founder continues to start a business, party B Shall Transfer Party A’s shares to party B’s founder’s next business venture.

 

     

     

    

 

Article 4 rights and obligations of Party B

 

Party B shall bear the corresponding property management fee
and air-conditioning usage fee of 25 yuan/m2/month for the office space provided by party A, which has already been included in
the incubation service fee.

 

2, party B entrusts party A to carry out capital contact docking
and other business activities, party a shall promptly provide the entrustment related information, and ensure the legitimacy, authenticity,
accuracy and integrity of the information provided;

 

3. Party
B shall be responsible for the maintenance, compensation and inform party a of the occurrence or failure of the house or its
ancillary facilities due to party B’s improper or unreasonable use of the hatchery site; Party B has inspected the
current situation of the properties occupied by party B, and after signing the contract, party B shall consider that party B
has approved the properties provided by party A; during the period of occupancy, due to force majeure events such as
earthglow, flood, fire, etc. , party B shall bear the responsibility for the theft, gas leakage, interior decoration and
equipment failure including electrical failure and pipe leakage caused by non-party a; Provide written company summary and
sub-quarterly plan to party a every quarter, submit all kinds of financial and statistical reports to party A.

 

      

     

    

 

5. Prohibition of competition: The Project Company and its controlling
shareholders shall fully engage in the business of the project company and protect its interests. Without the prior written consent
of party A, the controlling shareholder shall not directly or indirectly own, manage, engage in, operate, consult, provide services,
participate in any entity in competition with the project company;

 

All debts incurred by the project company
in the course of its past and future operations shall be assumed by the project company and party a shall have the right of withdrawal
at any time from the equity of the project company.

 

Party B shall pay to party B a deposit of RMB 104160(capital:
RMB 100,000100 lu 100 Yuan) within one working day after the signing of this agreement, as a guarantee of party B’s use of
party A’s facilities, venues and party B’s own expenses, party B shall return it without breach of contract after the
incubation period. If it causes party a loss, party a May deduct the deposit directly. If the deposit is not enough to compensate
party A’s loss, party B shall make up for it.

 

Article 5 liability for breach of contract

 

If Party B fails to register the business change or pay the
full incubation service fee as stipulated in article 2, paragraphs 3,4,5, and Article 5, paragraph 7 of this agreement, party
A has the right to terminate this agreement if party B fails to pay the liquidated damages at the rate of 1/1000 of the total incubation
service fee 20 days after the agreed time limit, and requires party B to pay the actual occupation of party a resources should
pay all the costs, including but not limited to thousand incubation service fees, office space rent, etc. .

 

      

     

    

 

Article 6. Confidentiality

 

The contents of this agreement and the business secrets of the
other party known in the course of cooperation shall be kept in strict confidence. Without the consent of the other party, shall
not provide to any third party, disclosure of this agreement and the other party project materials, reports and other relevant
documents and information.

 

Article 7. Termination of agreement and its consequences

 

If the contract can not be performed due to force majeure factors
and changes in national laws or policies, both parties may terminate the contract without liability to each other.

 

Party a shall have the right to terminate this agreement unilaterally
at any time during the term of this contract under any of the following circumstances, party B shall have the right to request
party B to buy back the shares of the project company held by party a immediately or not to exchange the shares of the project
company with the paid-up registered capital;

 

(1) the
project company violates national laws and policies;

 

(2) the
project company conceals the true situation and engages in fraud:

 

(3) after
examination, party a determines that there is a big gap between the project company’s progress and the proposed plan or
that the annual assessment is not up to standard;

 

(4) party
B or its controlling shareholder in violation of the non-competition obligations under this agreement:

 

(5) Party B cancels this agreement in advance without any
reason.

 

3. If party a unilaterally relieves this agreement in accordance
with paragraph 2 of Article 7 and requests party B to repurchase its share in the project company, the repurchase price shall
be calculated in accordance with the standard of incubation service fee and the actual incubation period as stipulated in paragraph
3 of Article 2 of this agreement.

 

Article 8. Application of law and dispute
settlement

 

Disputes arising from the performance of
this agreement shall be settled amicably through negotiation. If the negotiation can not be settled, both parties shall have the
right to submit the dispute to the local People’s Court of Party A.

 

Article 9. By-laws

 

1. Party
A and party B may enter into a supplementary agreement on matters not covered in this contract. The supplementary agreement
shall have the same effect as this agreement.

 

2. The
invalidity, revocation or termination of some provisions of this agreement shall not affect the validity of other provisions,
which shall remain valid.

 

3. This agreement shall come into force
in one () , one () and one () signed and sealed by both parties.

 

      

     

    

 

Party A: Shenzhen Chuangzhan Valley Innovation and Entrepreneurship
Center Co. , Ltd.

 

Party B: Shenzhen Micro Time Information Technology Co. , Ltd.
(Seal)

 

Signature of the legal representative or authorized representative:

 

Signed on April 27,2017, Nanshan District, Shenzhen CityDocument

Exhibit 4.6
 
DESCRIPTION OF CAPITAL STOCK
The following description of capital stock of Akebia Therapeutics, Inc. (“us,” “our,” “we” or the “Company”) is intended as a summary only and therefore is not a complete description of our capital stock. This description is based upon, and is qualified by reference to, our certificate of incorporation, as amended, our amended and restated bylaws, and applicable provisions of Delaware corporate law. You should read our certificate of incorporation, as amended, and our amended and restated bylaws, which are incorporated by reference as Exhibit 3.1, Exhibit 3.2 and Exhibit 3.3, respectively, to the Annual Report on Form 10-K of which this Exhibit 4.6 is a part, for the provisions that are important to you.
General
Our authorized capital stock consists of 350,000,000 shares of our common stock, par value $0.00001 per share, and 25,000,000 shares of undesignated preferred stock, par value $0.00001 per share.
Common Stock
Dividend Rights. Subject to preferences that may apply to shares of preferred stock outstanding at the time, holders of outstanding shares of common stock are entitled to receive dividends out of assets legally available at the times and in the amounts as the Board of Directors may from time to time determine.
Voting Rights. Each outstanding share of common stock is entitled to one vote on all matters submitted to a vote of stockholders. Holders of shares of our common stock shall have no cumulative voting rights.
Conversion or Redemption Rights. Our common stock is neither convertible nor redeemable.
Liquidation Rights. Upon our liquidation, dissolution or winding up, the holders of our common stock will be entitled to receive pro rata our assets which are legally available for distribution, after payment of all debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then-outstanding shares of preferred stock.
Rights and Preferences. Holders of common stock have no preemptive, conversion or subscription rights and there are no redemption or sinking fund provisions applicable to the common stock. The rights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate in the future.
Preferred Stock
Under our certificate of incorporation, we are authorized to issue up to 25,000,000 shares of preferred stock at $0.00001 par value per share. The preferred stock may be issued in one or more series, and the Board of Directors is expressly authorized (i) to fix the descriptions, powers, preferences, rights, qualifications, limitations and restrictions with respect to any series of preferred stock and (ii) to specify the number of shares of any series of preferred stock.
 
Anti-Takeover Effects of Our Certificate of Incorporation and Our Bylaws
Our certificate of incorporation and bylaws contain certain provisions that are intended to enhance the likelihood of continuity and stability in the composition of the Board of Directors and which may have the effect of delaying, deferring or preventing a future takeover or change in control of our company unless such takeover or change in control is approved by the Board of Directors.
 These provisions include:

Classified Board. Our certificate of incorporation provides that, subject to the special rights of the holders of any series of Preferred Stock to elect directors, our Board of Directors is divided into three classes of directors, with the classes as nearly equal in number as possible. As a result, approximately one-third of our Board of Directors is elected each year. The classification of directors has the effect of making it more difficult for stockholders to change the composition of our Board. Our certificate of incorporation also provides that, subject to any rights of holders of preferred stock to elect additional directors under specified circumstances, the number of directors shall be fixed exclusively pursuant to a resolution adopted by our Board of Directors.
Action by Written Consent; Special Meetings of Stockholders. Our certificate of incorporation provides that stockholder action can be taken only at an annual or special meeting of stockholders and cannot be taken by written consent in lieu of a meeting. Our certificate of incorporation and the bylaws also provide that, except as otherwise required by law, special meetings of the stockholders can be called only by or at the direction of the Board of Directors pursuant to a resolution adopted by a majority of the total number of directors. Stockholders are not permitted to call a special meeting or to require the Board of Directors to call a special meeting.
Removal of Directors. Subject to the special rights of the holders of any series of Preferred Stock to elect directors, our certificate of incorporation provides that our directors may be removed only for cause by the affirmative vote of at least 75% of the votes that all our stockholders would be entitled to cast in an annual election of directors, voting together as a single class, at a meeting of the stockholders called for that purpose. This requirement of a supermajority vote to remove directors could enable a minority of our stockholders to prevent a change in the composition of our Board.
Advance Notice Procedures. Our bylaws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of our stockholders, including proposed nominations of persons for election to the Board of Directors. Stockholders at an annual meeting may only consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of the Board of Directors or by a stockholder who was a stockholder of record on the record date for the meeting, who is entitled to vote at the meeting and who has given our Secretary timely written notice, in proper form, of the stockholder’s intention to bring that business before the meeting. Although the bylaws do not give the Board of Directors the power to approve or disapprove stockholder nominations of candidates or proposals regarding other business to be conducted at a special or annual meeting, the bylaws may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed or may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of our company.
Super Majority Approval Requirements. The Delaware General Corporation Law generally provides that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation’s certificate of incorporation or bylaws, unless either a corporation’s certificate of incorporation or bylaws requires a greater percentage. A majority vote of our Board of Directors or the affirmative vote of holders of at least 75% of the total votes of the outstanding shares of capital stock of our company entitled to vote with respect thereto, voting together as a single class, are required to amend, alter, change or repeal the bylaws. In addition, the affirmative vote of the holders of at least 85% of the total votes of the outstanding shares of capital stock of our company entitled to vote with respect thereto, voting together as a single class, are required to amend, alter, change or repeal, or to adopt any provisions inconsistent with, any of the provisions in our certificate of incorporation relating to decreasing the number of authorized shares of common stock, issuing or changing the number of authorized shares of preferred stock, the Board of Directors, limitation of director liability, meetings of stockholders, exclusive jurisdiction for certain actions and  amendments to our certificate of incorporation and bylaws. This requirement of a supermajority vote to approve amendments to our bylaws and certificate of incorporation could enable a minority of our stockholders to exercise veto power over any such amendments.
Authorized but Unissued Shares. Our authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval. These additional shares may be utilized for a variety of corporate purposes, including future public offerings to raise additional capital and corporate acquisitions. The existence of authorized but unissued shares of common stock and preferred stock could render more difficult or 

discourage an attempt to obtain control of a majority of our common stock by means of a proxy contest, tender offer, merger or otherwise.

Exclusive Forum. The certificate of incorporation provides that, subject to limited exceptions, and to the fullest extent permitted by law, the Court of Chancery of the State of Delaware will be the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers or other employees to us or our shareholders, (iii) any action asserting a claim against us arising pursuant to any provision of the Delaware General Corporation Law, our certificate of incorporation or our bylaws, or (iv) any other action asserting a claim against us that is governed by the internal affairs doctrine. Under our certificate of incorporation, this exclusive forum provision will not apply to claims which are vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery of the State of Delaware, or for which the Court of Chancery of the State of Delaware does not have subject matter jurisdiction. For instance, the provision would not apply to actions arising under federal securities laws, including suits brought to enforce any liability or duty created by the Exchange Act or the rules and regulations thereunder. Any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock shall be deemed to have notice of and to have consented to the provisions of our certificate of incorporation described above. Although we believe these provisions benefit us by providing increased consistency in the application of Delaware law and federal securities laws for the specified types of actions and proceedings, the provisions may have the effect of discouraging lawsuits against our directors and officers. The enforceability of similar choice of forum provisions in other companies’ certificates of incorporation has been challenged in legal proceedings, and it is possible that, in connection with one or more actions or proceedings described above, a court could find the choice of forum provisions contained in our certificate of incorporation to be inapplicable or unenforceable.

Section 203 of the Delaware General Corporation Law 

We are subject to Section 203 of the Delaware General Corporation Law, or Section 203, which prohibits a Delaware corporation from engaging in business combinations with an interested stockholder. An interested stockholder is generally defined as an entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation or any entity or person affiliated with or controlling or controlled by such entity or person, or an interested stockholder.  Section 203 provides that an interested stockholder may not engage in business combinations with the corporation for a period of three years after the date that such stockholder became an interested stockholder, with the following exceptions:

•before such date, the Board of Directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder; 

•upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned (i) by persons who are directors and also officers and (ii) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

•on or after such date, the business combination is approved by the Board of Directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.

In general, Section 203 defines business combinations to include the following:

•any merger or consolidation involving the corporation and the interested stockholder;

•any sale, lease, transfer, pledge or other disposition of 10% or more of the assets of the corporation to or with the interested stockholder;

•subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; 

•any transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class or series of the corporation beneficially owned by the interested stockholder; or

•the receipt by the interested stockholder of the benefit of any loss, advances, guarantees, pledges or other financial benefits by or through the corporation.

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