Document:

cik0001479615-ex104_169.htm

EXHIBIT 10.4

Silence Therapeutics plc

The Silence Therapeutics plc 2018 Non- Employee Long Term Incentive Plan (the “Plan”) 

US Non-Employee Sub-Plan to the Plan

Board adoption: 22 June 2020

 

This US Non-Employee Sub-Plan was adopted by the Board to permit the grant of Awards to Contractors who are US residents or US taxpayers (each, a “US Award Holder”). 

In the event of any inconsistency between the rules of the Plan and the rules of the US Non-Employee Sub-Plan, the rules of the US Non-Employee Sub-Plan shall take precedence.    

	
1.
	
Definitions

In this US Non-Employee Sub-Plan, the words and expressions used in the Plan shall bear, unless the context otherwise requires, the same meaning herein save to the extent the rules in this US Non-Employee Sub-Plan shall provide to the contrary.

In addition: 

“Code” means the Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder;

“Securities Act” means the Securities Act of 1933, as amended.

	
2.
	
Application of Plan 

Save as modified in this US Non-Employee Sub-Plan, all the provisions of the Plan shall be incorporated into this US Non-Employee Sub-Plan as if fully set out herein so as to be part of this US Non-Employee Sub-Plan SAVE THAT any Award named a “Conditional Share Award” in the Plan shall be re-named a “Restricted Stock Unit” or “RSU” when granted under the US Non-Employee Sub-Plan.

	
3.
	
Effective Date and Term of US Non-Employee Sub-Plan

This US Non-Employee Sub-Plan shall become effective on the date on which it is adopted by the Board.  No Award shall be granted under this US Non-Employee Sub-Plan after the completion of 10 years from the date on which this US Non-Employee Sub-Plan was adopted by the Board, but Awards previously granted under this US Non-Employee Sub-Plan may extend beyond that date.  

	
4.
	
Amendments

The Board may amend, suspend or terminate this US Non-Employee Sub-Plan or any portion thereof at any time.  No amendment, suspension or termination of the US Non-Employee Sub-Plan may materially adversely affect any Awards granted previously to any US Award Holder without the consent of the US Award Holder.

	
5.
	
Compliance with Code Section 409A

Unless otherwise set forth in an applicable Award agreement, the terms applicable to Awards granted under the Plan subject to this US Non-Employee Sub-Plan will be interpreted to the greatest extent possible in a manner that makes the Awards exempt from Section 409A of the Code, and, to the extent not so exempt, that brings the Awards into compliance with Section 409A of the Code. The Company shall have no liability to a US Award Holder, or any other 

 

 

party, if an Award that is intended to be exempt from, or compliant with, Section 409A of the Code is not so exempt or compliant or for any action taken by the Board.

	
6.
	
No right to Employment or other Status

No person shall have any claim or right to be granted an Award under this US Non-Employee Sub-Plan, and the grant of an Award shall not be construed as giving a US Award Holder the right to continue as a Contractor or any other relationship with any Group Member. 

	
7.
	
Amendment of Awards

The Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award of the same or different type, provided that the US Award Holder’s consent to such action shall be required unless the Board determine that the action, taking into account any related action, would not materially and adversely affect the US Award Holder.

	
8.
	
Eligibility Limitations for Grants to Contractors

A Contractor that is a US Award Holder is not eligible for the grant of an Option if, at the time of grant, either the offer or sale of the Company’s securities to such Contractor is not exempt under Rule 701 of the Securities Act because the Contractor is not a natural person, the services that the Contractor is providing to the Company or any Group Company are in connection with a capital raising transaction or directly or indirectly serve to promote or maintain a market for the Company’s securities, or because of any other provision of Rule 701 of the Securities Act, unless the Company determines that such grant need not comply with the requirements of Rule 701 of the Securities Act and will satisfy another exemption under the Securities Act as well as comply with the securities laws of the US state of residence of the Contractor and all other applicable jurisdictions. 

	
9.
	
Conditions on Delivery of Plan Shares

The Company will not be obligated to deliver any Plan Shares pursuant to this US Non-Employee Sub-Plan or to remove restrictions from Plan Shares previously delivered under this US Non-Employee Sub-Plan until:

	
9.1.
	
all conditions of the Award have been met or removed to the satisfaction of the Company, 

	
9.2.
	
in the opinion of the Company’s counsel, all other legal matters in connection with the issue, allotment and delivery of such Plan Shares have been satisfied, including any applicable securities laws and any applicable stock exchange or stock market rules and regulations, and 

	
9.3.
	
the US Award Holder has executed and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations.

	
10.
	
Transfer of Awards 

Notwithstanding rule 1.10 of the Plan:

	
(a)
	
if a US Award Holder ceases to be an Contractor by reason of his death his Award will be capable of transfer in accordance with the US Award Holder’s will, or the laws of descent and distribution; and

2

 

 

	
(b)
	
 subject to approval of the Board or a duly authorized officer of the Company, an Award may be transferred by a US Award Holder pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulations Section 1.421-1(b)(2). 

	
11.
	
Variation of Share Capital

Notwithstanding rule 14 of the Plan in the event of any variation of the share capital of the Company: (i) the number of Plan Shares subject to an Award; and (ii) any exercise price; must be adjusted proportionately in a manner that complies with Sections 409A and 424 of the Code.

	
12.
	
US Taxes

A US Award Holder shall make such arrangements as the Company may require for the satisfaction of any U.S. federal, state, local or foreign withholding tax obligations that may arise in connection with an Award or with the disposition of Plan Shares acquired in connection with an Award.

	
13.
	
No Obligation to Notify or Minimize Taxes

The Company will have no duty or obligation to a US Award Holder to advise such holder as to the time or manner of exercising an Option, to warn or otherwise advise such holder of a pending termination or expiration of an Award or a possible period in which an Option may not be exercised.  The Company has no duty or obligation to minimize the tax consequences of an Award granted to a US Award Holder.

17.Governing law and Jurisdiction

The formation, existence, construction, performance validity and all aspects whatsoever of the US Non-Employee Sub-Plan, any term of the US Non-Employee Sub-Plan and any Award granted under it shall be governed by English law.

The English courts shall have jurisdiction to settle any dispute which may arise out of, or in connection with, the US Non-Employee Sub-Plan.

3Exhibit
10.1

 

Equity Pledge Agreement

 

The Equity Pledge Agreement
(hereinafter referred to as “the Agreement”) is signed by the following parties at Qianhai Shenzhen-Hong
Kong Cooperation Zone, Shenzhen on August 18, 2020:

 

Party A (Pledgee): YiQiLai (Shenzhen)
Consulting Management Co., Ltd.

 

Domicile:

 

 

 

Party B (Pledgor): Ding Xiang (Shenzhen)
Investment Co., Ltd.

 

Unified Social Credit Code:

 

Domicile:

 

 

 

Target Company: Shenzhen Zhong Wei Technology
Co., Ltd. (hereinafter referred to as “Target Company”)

 

Domicile:

 

 

For the purpose of the Agreement, Pledgee,
Pledgor, and Target Company shall be individually referred to as “any party” and collectively referred to as “the
Parties”

 

Whereas:

		1.	The Pledgee is a wholly foreign owned enterprise incorporated in the People’s Republic of
China (hereinafter referred to as “China”, excluding Hong Kong, Macao and Taiwan for the purpose of the Agreement);

 

		2.	The Pledgor is a legal shareholder of the Target Company, and holds 100% of the shares of Target
Company on the date when the Agreement is signed.

 

		3.	The Pledgee, Pledgor, and Target Company signed Exclusive Management Consulting and Service
Agreement (hereinafter referred to as “Service Agreement”) on August 18, 2020;

 

		4.	To guarantee that the Pledgor and the Target Company fulfill the obligations, representations,
warranties and undertakings of the Service Agreement (including but not limited to paying the Pledgee the service fee in time),
the Pledgor hereby provides pledge guarantee for all the liabilities, obligations, representations, warranties and undertakings
of the Service Agreement for the Target Company with all the equity that it holds in the Target Company.

 

    	 	 	 

     

    

 

The Pledgor and the
Pledgee have jointly negotiated and signed the Agreement with the following articles.

 

		1	Definitions

 

Unless otherwise specified
herein, the following words shall have the meanings as below:

 

		1.1	Pledge: Refers to all the contents of Article 2 herein.

 

		1.2	Equity: Refers to all the equity that the Pledgor legally holds in the Target Company.

 

		1.3	Pledged property: Refers to the equity pledged by the Pledgor to the Pledgee in accordance with
the Agreement and the existing and future profits, dividends and bonus of the equity.

 

		1.4	Secured debt: Refers to all the liabilities, obligations, representations, warranties and undertakings
of the Target Company for the Pledgee in accordance with the Service Agreement, including but not limited to the service fee, interests,
breach of contract penalty, compensation, costs for realization of creditor’s rights, the losses of the Pledgee arising from
the breach of contract by the Target Company and all the other fees payable that the Target Company shall pay the Pledgee.

 

		1.5	Pledge duration: Refers to the period prescribed in Article 3 herein.

 

		1.6	Event of default: Refers to any situation stated in Article 7 herein.

 

		1.7	Default notice: Refers to the notice stating the event of default and issued according to the Service
Agreement and the Agreement.

 

		2	Pledge

 

		2.1	The Pledgor shall pledge all the equity that it holds in the Target Company to the Pledgee at the price prescribed herein by
means of first priority pledge, which serves as the guarantee of the Target Company and the Pledgor to perform the secured debt.

 

    	 	2	 

     

    

 

		2.2	Pledge refers to the right of the Pledgee to auction or sell the equity pledged by the Pledgor to the Pledgee and be paid with
the amount earned from the auction or sale of such equity in priority. The effectiveness of pledge governs shall be extended to
all the profits, dividends and bonuses incurred from the equity during the validity period of the Agreement.

 

		2.3	The equity pledge established herein is a continuing guarantee that shall be effective until the agreement obligations are
completely fulfilled and the secured debt is fully repaid. The exemption or grace given by the Pledgee to the Pledgor for any breach
of contract, or the Pledgee’s postponement of any of its rights in the Service Agreement or the Agreement shall not prejudice
the Pledgee’s right to require the Pledgor and Party C to strictly execute the Service Agreement or the Agreement in the
future in accordance with the Agreement, relevant Chinese laws and the Service Agreement, or the rights that the Pledgee shall
hold due to subsequent breach of the Service Agreement and/or the Agreement by the Pledgor and Party C.

 

		3	Scope of Pledge Guarantee

 

The scope of pledge
guarantee herein covers all the secured debts.

 

		4	Pledge Duration

 

		4.1	The equity pledge hereof shall come into effect on the date of being recorded in register of shareholders
of the Target Company and registered in industry and commerce administrative department. The validity period of the pledge shall
conform to the validity period of the Service Agreement (if the validity period of the Service Agreement is extended, the validity
period of the pledge shall be automatically extended accordingly.)

 

		4.1.1	The Pledgor shall procure the Target Company to and the Target Company shall record the pledge
condition of the pledged property in the register of shareholders of the Target Company within 3 working days from the signing
date hereof, and issue the updated Capital Contribution Certificate stating the pledge condition of the pledged property.

		4.1.2	If the pledge record item changes and shall be revised according to law, the Pledgor and the Pledgee
shall revise the record correspondingly within 15 days from the date of record item change.

		4.1.3	The Pledgor shall procure the Target Company to and the Target Company shall complete the industry
and commerce registration formality of the pledge for the pledged property within 30 working days from the signing date hereof.

 

    	 	3	 

     

    

 

		4.1.4	If the industry and commerce administrative department prescribes special requirements or specialized
version for the contract submitted for equity pledge registration, the Pledgor shall then unconditionally coordinate to sign the
equity pledge contract meeting the requirements of local industry and commerce administrative department; unless local industry
and commerce administrative department gives statutory requirements, the articles and principles of such contract shall fully conform
to these of the Agreement; in case of any discrepancy with the registration contents, the Agreement shall prevail.

		4.2	During the validity period of the pledge, the Pledgee shall be entitled but not obliged to dispose
the pledged property in accordance with the provisions hereof.

 

		5	Safekeeping of Pledge Registration and Pledge Certificate

 

The Pledgor
shall apply for the equity pledge establishment registration to the registration authority in accordance with Measures for Equity
Pledge Registration of Industrial and Commercial Administration within one week from the signing date hereof, and submit the
register of shareholders and contribution certificate (if any) of the Target Company to the Pledgee for safekeeping until the pledge
duration prescribed herein expires.

 

		6	Representations and Warranties of the Pledgor

 

		6.1	The Pledgor is the legal holder of the pledged equity with the full right to sign the Agreement
and fulfill the obligations hereof, and its signing, submission and performance of the Agreement and any related agreements shall
not violate the followings due to time limit and/or any action or event or any other causes:

 

		6.1.1	Any establishment documents of the Target Company;

 

		6.1.2	Any laws that the Pledgor and the Target Company shall comply with; or

 

		6.1.3	Any provisions and any obligations in written or oral documents that are signed by the Pledgor
and the Target Company and become effective, including contracts, agreements and memorandum, etc.

 

		6.2	Unless otherwise specified herein, to the extent permitted by Chinese laws, the Pledgee shall not
face the interference from any other party once it exercises the Pledgee’s rights according to the Pledge Agreement.

 

    	 	4	 

     

    

 

		6.3	Unless otherwise specified herein, to the extent permitted by Chinese laws, the Pledgee shall be
entitled to dispose or transfer the pledge in the manner prescribed herein and the Pledgor shall unconditionally coordinate,

 

		6.4	Except for the Pledgee, the Pledgor has not establish any other pledge rights or other encumbrances
on the equity; the ownership of such pledged equity is not disputed, free of the restriction of other legal proceeding, and can
be pledged and transferred pursuant to applicable laws;

 

		6.5	During the validity period of the Agreement, the Pledgor hereby undertakes to strictly fulfill
the following obligations for the Pledgee, and procure the Target Company to fulfill relevant obligations as the shareholder of
the Target Company:

 

		6.5.1	Except the transfer of the equity of the Target Company to the Pledgee or the assignee of the Pledgee
in accordance with Exclusive Option Agreement, without the prior consent of the Pledgee in writing, the Pledgor shall not
directly or indirectly transfer all or part of the equity of the Target Company in any way, or establish or allow the existence
of any pledge or the guarantee in other form that may influence the rights and interests of the Pledgee;

 

		6.5.2	If the Pledgee agrees to transfer the equity of the Target Company to the assignee of the Pledgee,
all of its rights and obligations hereof shall be transferred to such transferee, and try the best to procure and require such
transferee to unconditionally inherit and perform such rights and obligations.

 

		6.5.3	Comply with and execute all the laws and regulations on pledge of rights, present the notice, order
or advice to the Pledgee within five days after receiving such notice, order or advice on pledge from the competent authority,
comply with and execute the aforementioned notice, order or advice, or raise objection about the aforementioned matters at the
reasonable request of the Pledgee or with the consent of the Pledgee;

 

		6.5.4	Without the written consent of the Pledgee, the Pledgor shall not take and procure the Target Company
not to take any act that may derogate, damage or harm the value of pledged equity in other way or impair any rights of the Pledgee
hereof, or take any act that has significant influence on the assets, business and/or operation of the Target Company. The Pledgee
shall not assume any responsibility for the value deduction of the pledged equity due to any situation, and the Pledgor and the
Target Company shall not be entitled to claim in any form or claim any rights from the Pledgee.

 

    	 	5	 

     

    

 

		6.5.5	Any event learnt by the Pledgor that may influence the equity and other rights of the Pledgor,
may change any warranty or undertaking of the Pledgor hereof, or may influence the Pledgor’s fulfillment of its obligations
hereof.

 

		6.5.6	The Pledgor hereby further undertakes that after signing the Agreement, if the Pledgee agrees on
the capital increase or equity increase of the Pledgor in the Target Company with prior consent in writing, such capital or equity
for increase shall automatically become part of the pledged equity hereof. The Pledgor and the Target Company shall be liable to
immediately undertake necessary revision of register of shareholders and capital contribution amount of the Target Company, and
execute the pledge procedure prescribed in Article 4.1.

 

		6.5.7	Pursuant to relevant provisions of Chinese laws and regulations, the equity pledge hereof shall
be continuing guarantee that remains fully effective during the validity period of the Agreement, and shall not be affected by
the insolvency, liquidation, incapacity or change of corporate nature of the Pledgor or the Target Company or any capital offset
or any other events among the Parties.

 

		6.5.8	For the purpose of implementation of the Agreement, the Pledgee shall be entitled to dispose the
pledged equity in the manner prescribed herein, and exercise its right in accordance with this clause without being interrupted
or jeopardized by the Pledgor or the Target Company, or the successor and authorized representative of the Pledgor or the Target
Company, or any other person.

 

		6.5.9	The Pledgor hereby agrees that within the validity period of the Agreement, the Pledgee may, if
necessary, require the Pledgor to sign any other agreement or supplementary agreement with the Pledgee or its assignor. The Pledgor
hereby undertakes to immediately sign and specifically explain and supplement relevant contents, terms and articles on the instructions
of the Pledgee.

 

    	 	6	 

     

    

 

		6.5.10	The Parties hereby agree that within the validity period of the Agreement, the Pledgee may require
the Pledgor to supplement and revise any term and article hereof for tax, accounting or other reasons, and the Pledgor shall immediately
follow the instructions of the Pledgee.

 

		6.6	The Pledgor hereby undertakes to the Pledgee that for the sake of the Pledgee’s interests,
the Pledgor shall comply with and perform all the warranties, undertakings, representations and obligations in the Agreement and
the Service Agreement. If the Pledgor does not perform or fully perform its warranties, undertakings, representations and obligations,
the Pledgor shall compensate the Pledgee for all the losses arising therefrom.

 

		6.7	The Pledgor hereby undertakes to the Pledgee that to protect or improve the guarantee for the secured
debt herof, the Pledgor shall sign and urge other interested parties of the pledge to sign all the document of title, documents
or agreements required by the Pledgee, urge other interested parties and itself to take the action required by the Pledgee, and
provide convenience for the exercise of the rights of the Pledgee granted herein.

 

		6.8	The Pledgor and the Target Company have fully acknowledged the contents of the Agreement, and voluntarily
sign and perform the Agreement, which represents the true intention of the Parties. The Pledgor and the Target Company have taken
all the necessary measures at the reasonable request of the Pledgee, obtained all the necessary internal authorizations to sign
and perform the Agreement, and signed all the necessary documents so as to keep the pledged equity hereof legal and effective;

 

		6.9	As of the signing date hereof, no overdue taxes for the equity existed.

 

		7	Event of Default

 

		7.1	The following events shall be deemed as events of default:

 

		7.1.1	The Pledgor or the Target Company violates any obligations in the transaction documents, including
but not limited to the Target Company failing to pay the service fee payable or other fees payable in the Service Agreement in
full amount in time;

 

		7.1.2	The Pledgor breaches the representations and warranties made in Article 6 hereof or makes any false
or misleading representations;

 

		7.1.3	Except for the provision of Article 6.5.1 hereof, the Pledgor losses the pledged equity or arbitrarily
transfer the pledged equity without the written consent of the Pledgee;

 

    	 	7	 

     

    

 

		7.1.4	The Pledgor or the Target Company fails to perform any of their other obligations or any representations
or warranties in the Agreement and the Service Agreement;

 

		7.1.5	The Pledgor breaches any article hereof;

 

		7.1.6	Any of the obligations of the Pledgor or the Target Company prescribed in the Agreement and the
Service Agreement are deemed illegal or ineffective transaction;

 

		7.1.7	For any external loan, guarantee, compensation, undertaking or other responsibility of debt repayment
of the Pledgor, (1) the Pledgor is required to repay or perform in advance for the reason of breach of contract; or (2) it is due
but not repaid or performed in time so that the Pledgee holds that the Pledgor’s ability to fulfill the obligations hereof
is affected;

 

		7.1.8	The Pledgor undergoes adverse change due to the properties it holds so that the Pledgee holds that
the Pledgor’s ability to fulfill the obligations hereof is affected;

 

		7.1.9	The Pledgor is unable to repay normal liabilities or other debts;

 

		7.1.10	Relevant laws or regulations are issued so that the Agreement becomes illegal or the Pledgor cannot
continually perform the obligations hereof;

 

		7.1.11	The consent, permit, approval or authorization of any governmental department that makes the Agreement
enforceable, legal or effective, are withdrawn, terminated, invalid or substantially revised;

 

		7.1.12	The successor or authorized agent of the Pledgor can solely perform part of the obligations in
the Service Agreement or refuse to perform such obligations;

 

		7.1.13	Other situations that prevent the Pledgee from exercising and disposing the pledge in accordance
with relevant provisions of the laws.

 

		7.2	If it is learnt or found that any event prescribed in Article 7.1 hereof or any event that may
cause the aforementioned event happens, the Pledgor shall immediately notify the Pledgee in writing.

 

    	 	8	 

     

    

 

		7.3	Unless the event of default stated in Article 7.1 hereof has been perfectly resolved to the satisfaction
of the Pledgee, the Pledgee may send default notice in writing to the Pledgor at any time when or after the event of default for
the Pledgor happens, require the Pledgor to immediately repay all the debts in the Service Agreement and other amounts payable,
or exercise the pledge right in accordance with Article 8 hereof.

 

		8	Exercise of Pledge Right

 

		8.1	Before the service fee or other fees prescribed in the Service Agreement are fully paid, the Pledgor
shall not transfer the equity without the written consent of the Pledgee.

 

		8.2	The Pledgee shall send default notice to the Pledgor when exercising the pledge right.

 

		8.3	Restricted by Article 7.3, the Pledgee may exercise the right of pledge disposal at any time when
or after sending the default notice in accordance with Article 7.3.

 

		8.4	The Pledgee shall be entitled to sell all or part of the equity hereof at cut-rate price in the
statutory procedure, or be paid with the amount earned from the auction or sale of such equity in priority until the unpaid service
fee and other fees payable in the Service Agreement is fully paid. To avoid any doubt, the Pledgor shall bear or compensate for
any liabilities or damages arising from or caused by the pledged property in the process of equity disposal.

 

		8.5	The Pledgor shall not obstruct the Pledgee in its process of exercising pledge right in accordance
with the Agreement, and shall provide necessary assistance so as to enable the Pledgee to realize its pledge right.

 

		9	Transfer

 

		9.1	Without the prior consent of the Pledgee in writing, the Pledgor shall not be entitled to donate
or transfer its rights and obligations hereof.

 

		9.2	The Agreement has binding force on the Pledgor and its successor, and remain effective for the
Pledgee and each of its successors and transferees.

 

    	 	9	 

     

    

 

		9.3	The Pledgee may transfer all or part of its rights and obligations in the Service Agreement to
the assignee (natural person/legal person) at any time. In such case, the transferee shall enjoy the rights and undertake the obligations
attributed to the Pledgee herein as it shall enjoy the rights and undertake the obligations as a party of the Agreement. The Pledgee
shall sign relevant agreement and/or document for such transfer at the request of the Pledgor when the Pledgee transfers the rights
and obligations in the Service Agreement.

 

		9.4	After the Pledgee is changed due to transfer, the new pledge parties shall further sign the new
pledge agreement with the articles and principles equivalent to those hereof, and deal with corresponding industry and commerce
registration formality.

 

		10	Termination

 

After the service
fee in the Service Agreement is fully paid and the Target Company no longer undertakes any obligations in the Service Agreement,
the Pledge Agreement shall be terminated. The Pledgee and the Pledgor shall enter into written agreement on the agreement termination
as soon as possible within feasible reasonable period, and deal with corresponding formality of equity pledge cancellation.

 

		11	Tax Bearing

 

		11.1	All the fees and actual expenses related to the Agreement, including but not limited to legal fee,
cost of production and taxes, etc., shall be borne by the Target Company. If the laws prescribe that the Pledgor and the Pledgee
shall pay relevant taxes, the Target Company shall compensate the Pledgor and the Pledgee in full amount for the paid taxes.

 

		11.2	If the Target Company does not pay any taxes and fees payable in accordance with the Agreement,
or makes the Pledgor and the Pledgee claim by any means or in any way for other reason, the Target Company shall bear all the costs
arising therefrom (including but not limited to various taxes, service charge, management fee, litigation fee, lawyer’s fee
and insurance fees for the pledge disposal, etc.).

 

		12	Force Majeure

 

		12.1	If the performance of the Agreement is delayed or hindered by any “force majeure event”,
the party affected by force majeure shall not undertake any responsibility hereof for the delayed or hindered part of performance.
“Force majeure event” refers to any event beyond the scope of reasonable control of one party and unavoidable though
the affected party takes reasonable care, including but not limited to governmental act, natural force, fire, explosion, windstorm,
flood, earthquake, tide, lightning, or war. However, credit, capital or financing deficiency shall not be deemed beyond the scope
of reasonable control of one party. The party affected by “force majeure event” that seeks the exemption of the duties
hereof shall notify the other party of such cause of exemption as soon as possible.

 

    	 	10	 

     

    

 

		12.2	The party affected by force majeure shall not thus undertake any responsibilities hereof. However,
only if such party makes reasonable feasible efforts to perform the Agreement, can the party seeking the exemption from liability
be exempted from such performance of duty within the scope of performance subject to delay or hindrance. Once the cause of such
exemption from liability is rectified and remedied, the Parties shall agree to try their best to recover the performance hereof.

 

		13	Dispute Resolution

 

		13.1	The Agreement shall be governed by and interpreted according to Chinese laws.

 

		13.2	The Parties shall firstly resolve any dispute arising from the interpretation and performance of
the Agreement through amicable negotiations. If the Parties fail to enter into the agreement of dispute resolution within 30 days
after one party sends the written notice requesting resolution through negotiation to the other party, any party shall be entitled
to submit relevant dispute to South China International Economic and Trade Arbitration Commission for arbitration in accordance
with the arbitration rules effective then. The arbitration place is Shenzhen and the arbitration language is Chinese. The arbitration
award shall be final and have binding force on the parties.

 

		13.3	Except for the disputed matter, the Parties shall continually perform their respective obligations
in good faith.

 

 

		14	Notice

 

The notice
or other correspondence sent by any party hereof shall be made in Chinese, and delivered by specialized person, by post or via
fax to the following address of other parties or other addresses given by other party in the notice to other agreement parties
in the means of notice prescribed herein. The actual service date of the notice shall be determined in the following mode: (a)
For the notice delivered by specialized person, it shall be deemed as served on the date of delivery by specialized person; (b)
for the notice in the form of letter, it shall be deemed as served on the tenth day after the post date of registered airmail with
postage paid (indicated by postmark, or on the fourth day after delivered to special delivery service institution internationally
recognized; and (c) for the notice sent via fax, it shall be deemed as served at the receiving time indicated on transmission confirmation
of relevant document.

 

    	 	11	 

     

    

 

Pledgee: YiQiLai (Shenzhen)
Consulting Management Co., Ltd.

 

		Address:	

 

Addressee:

 

Tel.:

 

Fax: _________________________________________________________

 

 

 

Pledgor: Ding Xiang (Shenzhen)
Investment Co., Ltd.

 

Address:

 

Addressee:

 

Tel.:

 

Fax: ____________________________________________

 

		15	Effectiveness

 

		15.1	The Agreement shall come into immediate effect after being signed by the authorized representative
and affixed with the seal of the Parties. Any revision, supplement or change of the Agreement shall be made in writing.

		15.2	The Agreement is made in Chinese and in quintuplicate; with each party holding one, and the remaining
two copies for industry and commerce filing; each copy shall have equal legal force.

 

(The remainder of this page is intentionally
left blank. The signing page is attached)

    	 	12	 

     

    

 

(This page is left blank and serves as
the signing page of Equity Pledge Agreement. The Parties have instructed their respective authorized representatives to
sign Equity Pledge Agreement on the date first above written.)

 

Party A: YiQiLai (Shenzhen) Consulting
Management Co., Ltd.

 

 

 

Signature: /s/ Congying Fang

 

 

 

Party B: Ding Xiang (Shenzhen) Investment
Co., Ltd.

 

 

 

Signature: /s/ Xinhong Cai

 

 

 

Target Company: Shenzhen Zhong Wei Technology
Co., Ltd.

 

 

 

Signature: /s/ Weide Li

 

 

 

 

August 18, 2020

 

    	 	13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}]]