Document:

Exhibit 10.11

  

  Execution Version

    

   

  

   

  

  
    
      

      

      

      

       

      

      
        	
                 

              

      

       

      

      

      

      

    

    BMW VEHICLE LEASE TRUST 2022-1,

      as Issuer,

     

    U.S. BANK NATIONAL ASSOCIATION,

      not in its individual capacity but solely as Indenture Trustee

    and as Secured Party,

     

    and

     

    U.S. BANK NATIONAL ASSOCIATION,

    as Securities Intermediary

     

     

    

     

    

     

    

     

    

     ___________________________________

     

    

    CONTROL AGREEMENT

     

    Dated as of January 19, 2022

     ___________________________________

     

    

     

    

     

      
        	
                 

              

      

       

    

    
      

      

      

      

      

      

      

      

      

      

      

      

    

    
      
        

    

    TABLE OF CONTENTS

    

    

    Page

    

    

    	
            ARTICLE ONE DEFINITIONS

          	
            1

          
	
            Section 1.01.

          	
            General Definitions

          	
            1

          
	
            Section 1.02.

          	
            Incorporation of UCC by Reference

          	
            2

          
	
            ARTICLE TWO ESTABLISHMENT OF CONTROL OVER SECURITIES ACCOUNTS

          	
            2

          
	
            Section 2.01.

          	
            Establishment of the Accounts

          	
            2

          
	
            Section 2.02.

          	
            “Financial Assets” Election

          	
            3

          
	
            Section 2.03.

          	
            Entitlement Orders

          	
            3

          
	
            Section 2.04.

          	
            Subordination of Lien; Waiver of Set-Off

          	
            3

          
	
            Section 2.05.

          	
            Notice of Adverse Claims

          	
            3

          
	
            ARTICLE THREE REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SECURITIES INTERMEDIARY

          	
            4

          
	
            Section 3.01.

          	
            Representations, Warranties and Covenants of the Securities Intermediary

          	
            4

          
	
            ARTICLE FOUR MISCELLANEOUS

          	
            5

          
	
            Section 4.01.

          	
            Choice of Law

          	
            5

          
	
            Section 4.02.

          	
            Conflict with other Agreements

          	
            5

          
	
            Section 4.03.

          	
            Amendments

          	
            5

          
	
            Section 4.04.

          	
            Successors

          	
            5

          
	
            Section 4.05.

          	
            Notices

          	
            5

          
	
            Section 4.06.

          	
            Termination

          	
            5

          
	
            Section 4.07.

          	
            Counterparts

          	
            6

          
	
            Section 4.08.

          	
            Limitation of Liability of Owner Trustee

          	
            6

          
	
            Section 4.09.

          	
            Communications with Rating Agencies

          	
            6

          

    

    

    

    

    
      
        

    

    CONTROL AGREEMENT

     

    This Control Agreement, dated as of January 19, 2022 (this “Agreement”), is among BMW Vehicle Lease Trust 2022-1, as the issuer (the “Issuer”), U.S. Bank National
      Association, not in its individual capacity but solely as indenture trustee (in such capacity, the “Indenture Trustee”) and as secured party (in such capacity, the “Secured Party”), and U.S. Bank National Association, as securities
      intermediary (the “Securities Intermediary”).

     

    RECITALS

     

    WHEREAS, pursuant to the Indenture, the Issuer has granted to the Secured Party a security interest in investment property consisting of the 2022-1 SUBI Collection Account, the Reserve
      Fund, related Security Entitlements and the financial assets and other investment property from time to time included therein to secure payment of the Secured Obligations; and

     

    WHEREAS, the parties hereto desire that the security interest of the Secured Party be a first priority security interest perfected by “control” pursuant to Articles Eight and Nine of the
      UCC.

     

    NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

     

    ARTICLE ONE

     

    DEFINITIONS

     

    Section 1.01.  General Definitions.  Except as otherwise specified herein or as the context may otherwise require, the following terms have the respective
        meanings set forth below for all purposes of this Agreement.  Capitalized terms that are used herein that are not otherwise defined shall have the meaning ascribed thereto in the Indenture.“2022-1 SUBI Collection Account” means a securities
        account (within the meaning of Section 8-501 of the UCC) in the name “BMW Vehicle Lease Trust 2022-1” established with the Securities Intermediary pursuant to the Indenture, together with any successor accounts established pursuant to the
        Indenture.

     

    “Accounts” means the 2022-1 Collection Account and the Reserve Fund.

     

    “Agreement” has the meaning set forth in the Preamble.

     

    “Entitlement Holder” means, with respect to any financial asset, a Person identified in the records of the Securities Intermediary as the Person having a Security Entitlement
      against the Securities Intermediary with respect to such financial asset.

     

    “Entitlement Order” means a notification directing the Securities Intermediary to transfer or redeem a financial asset.

     

    
      
        

    

    
    “Hague Securities Convention” means The Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary (Concluded 5 July 2006), which became
      effective in the United States of America on April 1, 2017.

    

    

    “Indenture” means the Indenture, dated as of January 19, 2022, between the Issuer and the Indenture Trustee.

     

    “Indenture Trustee” has the meaning set forth in the Preamble.

     

    “Issuer” has the meaning set forth in the Preamble.

     

    “Notes” has the meaning set forth in the Indenture.

     

    “Person” means any individual, corporation, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated
      organization or government or any agency or political subdivision thereof.

     

    “Reserve Fund” means a securities account (within the meaning of Section 8-501 of the UCC) in the name “U.S. Bank National Association, as Indenture Trustee, BMW Vehicle Lease Trust
      2022-1” established with the Securities Intermediary pursuant to the Indenture, together with any successor accounts established pursuant to the Indenture.

     

    “Secured Obligations” means the payments required to be made to Securityholders pursuant to Section 8.04 and Article V of the Indenture.

     

    “Secured Party” has the meaning set forth in the Preamble.

     

    “Security Entitlement” means the rights and property interest of an Entitlement Holder with respect to a financial asset, as specified in Part 5 of Article 8 of the UCC.

     

    “UCC” means the Uniform Commercial Code as in effect in the State of New York on the date hereof.

     

      

    Section 1.02.  Incorporation of UCC by Reference.  Except as otherwise specified herein or as the context may otherwise require, all terms used
        in this Agreement not otherwise defined herein which are defined in the UCC shall have the meanings assigned to them in the UCC.

     

      

    ARTICLE TWO

     

    ESTABLISHMENT OF CONTROL OVER SECURITIES ACCOUNTS

     

    Section 2.01.  Establishment of the Accounts.  The Securities Intermediary hereby confirms that (i) the Accounts have been established with the Securities
        Intermediary, (ii) each Account is an account to which financial assets are or may be credited, (iii) the Securities Intermediary shall, subject to the terms of this Agreement and the Indenture, treat the Secured Party as entitled to exercise the
        rights that comprise any financial asset credited to an Account, (iv) all property delivered to the Securities Intermediary by or on behalf of the Secured Party or

    
      2

      
        

    

    the Issuer for deposit to an Account will promptly be credited to such Account and (v) all securities or other property underlying any financial assets credited to an Account shall be registered in the name
      of the Securities Intermediary, endorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary and in no case will any financial asset credited to an Account be
      registered in the name of the Issuer, payable to the order of the Issuer or specially endorsed to the Issuer except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.

     

    Section 2.02.  “Financial Assets” Election.  The Securities Intermediary hereby agrees that each item of property (whether investment property, financial
        asset, security, instrument or cash) credited to the Accounts shall be treated as a “financial asset” within the meaning of Section 8-102(a)(9) of the UCC.

     

        

    Section 2.03.  Entitlement Orders.  If at any time the Securities Intermediary shall receive any Entitlement Order from the Secured Party with respect to an Account,
        the Securities Intermediary shall comply with such Entitlement Order without further consent by the Issuer or any other Person.  If at any time the Secured Party notifies the Securities Intermediary in writing that the lien of the Indenture has
        been released, the Securities Intermediary shall thereafter comply with Entitlement Orders with respect to such Account from the Issuer without further consent by the Issuer or any other Person.

     

        

    Section 2.04.  Subordination of Lien; Waiver of Set-Off.  In the event that the Securities Intermediary has or subsequently obtains by agreement, operation of law or otherwise a
        security interest in the Accounts or any Security Entitlement credited thereto, the Securities Intermediary hereby agrees that such security interest shall be subordinate to the security interests of the Secured Party and the Issuer.  The financial
        assets and other items deposited to an Account will not be subject to deduction, set-off, banker’s lien or any other right in favor of any Person or entity other than the Secured Party and, subject to the provisions hereof, the Issuer (except that
        the Securities Intermediary may set off against amounts on deposit in such Account (i) all amounts due to it in respect of its customary fees and expenses for the routine maintenance and operation of such Account, and (ii) the face amount of any
        checks which have been credited to such Account but are subsequently returned unpaid because of uncollected or insufficient funds).

     

    Section 2.05.  Notice of Adverse Claims.  Except for the claims and interests of the Issuer and the Secured Party in the Accounts, the Securities
        Intermediary does not know of any claim to, or interest in, the Accounts or in any financial asset credited thereto.  If any Person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment,
        execution or similar process) against an Account or in any financial asset carried therein, the Securities Intermediary will promptly notify the Secured Party and the Issuer thereof.

    
      3

      
        

    

    ARTICLE THREE

     

    REPRESENTATIONS, WARRANTIES AND COVENANTS

      OF THE SECURITIES INTERMEDIARY

     

    Section 3.01.  Representations, Warranties and Covenants of the Securities Intermediary.  The Securities Intermediary hereby represents and warrants to the
        Secured Party and the Issuer, and covenants that:(a)Each Account has been established as set forth in Section 2.01 and each Account will be maintained in the manner set forth herein until termination of this
        Agreement.  The Securities Intermediary shall not change the name or account number of any Account without the prior written consent of the Secured Party.  The Securities Intermediary is acting hereunder in the capacity of a “securities
        intermediary” within the meaning of Section 8-102(a)(14) of the UCC.

     

    (b) No financial asset carried in an Account is or will be registered in the name of the Issuer, payable to the order of the Issuer, or specially endorsed to the Issuer, except to the extent that such financial
        asset has been endorsed to the Securities Intermediary or in blank.

     

    (c) This Agreement is the valid and legally binding obligation of the Securities Intermediary.

     

    (d) The Securities Intermediary has not entered into, and until the termination of this Agreement will not enter into, any agreement pursuant to which it agrees to comply with Entitlement Orders of any Person
        other than the Secured Party or the Issuer, in each case to the extent provided in Section 2.03, with respect to the Accounts.

     

    (e) The Securities Intermediary has not entered into any other agreement with the Secured Party or the Issuer purporting to limit or condition the obligation of the Securities Intermediary to comply with
        Entitlement Orders as set forth in Section 2.03.

     

    (f) The Securities Intermediary has at the time of this Agreement and shall continuously maintain have a place of business in the United States at which any of the activities of the Securities Intermediary are
        carried on and which (i) alone or together with other offices of the Securities Intermediary or with other persons acting for the Securities Intermediary in the United States or another nation (A) effects or monitors entries to securities accounts,
        (B) administers payments or corporate actions relating to securities held with the Securities Intermediary or such other persons, or (C) is otherwise engaged in a business or other regular activity of maintaining securities accounts; or (ii)  is
        identified by an account number, bank code, or other specific means of identification as maintaining securities accounts in the United States.

     

    
      4

      
        

    

    ARTICLE FOUR

     

    MISCELLANEOUS

     

    Section 4.01.  Choice of Law.  This Agreement and the Accounts shall be governed by the laws of the State of New York.  Regardless of any provision in any
        other agreement, for purposes of the UCC, New York shall be deemed to be the Securities Intermediary’s jurisdiction and the Accounts (as well as the Security Entitlements related thereto) shall be governed by the laws of the State of New York, and
        the law of the State of New York shall govern all issues specified in Article 2(1) of the Hague Securities Convention.  The parties will not agree to any amendment to this Agreement or the Indenture to change the governing law to any law other than
        the laws of the State of New York.

     

        

    Section 4.02.  Conflict with other Agreements.  There are no agreements (other than this Agreement and the Indenture) entered into between the Securities Intermediary in such
        capacity and the Issuer with respect to the Accounts.  In the event of any conflict between this Agreement (or any portion thereof) and any other agreement now existing or hereafter entered into, the terms of this Agreement shall prevail.

     

        

    Section 4.03.  Amendments.  No amendment or modification of this Agreement or waiver of any right hereunder shall be binding on any party hereto unless it is in writing and is
        signed by all of the parties hereto.

     

        

    Section 4.04.  Successors.  The terms of this Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective corporate successors.

     

        

    Section 4.05.  Notices.  All demands, notices and communications hereunder shall be in writing and shall be deemed to have been duly given if personally delivered at
        or mailed by registered mail, return receipt requested, to, in the case of (i) the Issuer, at c/o Wilmington Trust, National Association, Rodney Square North, 1100 North Market Street, Wilmington, DE 19890, Attention: Corporate Trust
        Administration, with a copy to BMW Financial Services NA, LLC, as Administrator, at 300 Chestnut Ridge Road, Woodcliff Lake, NJ 07677, Attention: General Counsel; (ii) the Indenture Trustee and the Secured Party, at 190 South LaSalle Street, 7th
        Floor, Chicago, Illinois 60603, Attention: Global Structured Finance/BMW Vehicle Lease Trust 2022-1; and (iii) the Securities Intermediary, at 190 South LaSalle Street, 7th Floor, Chicago, Illinois 60603, Attention: Global Structured Finance/BMW
        Vehicle Lease Trust 2022-1; or as to any of such parties, at such other address as shall be designated by such party in a written notice to the other parties.

     

        

    Section 4.06.  Termination.  The rights and powers granted herein to the Secured Party have been granted in order to perfect its security interest in the Accounts,
        are powers coupled with an interest and will neither be affected by the bankruptcy of the Issuer or the lapse of time.  The obligations of the Securities Intermediary hereunder shall continue in effect with respect to the Accounts until the Secured
        Party has notified the Securities Intermediary in writing that its security interests under the Indenture have been terminated.

    
      5

      
        

    

    Section 4.07.  Counterparts.  This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same
        instrument, and any party hereto may execute this Agreement by signing and delivering one or more counterparts. Each party agrees that this Agreement and any other documents to be delivered in connection herewith may be electronically signed, and
        that any electronic signatures appearing on this Agreement or such other documents are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility to the fullest extent permitted by law.

    

     

        

    Section 4.08.  Limitation of Liability of Owner Trustee.  The parties hereto are put on notice and hereby acknowledge and agree that (a) this Agreement is executed
        and delivered by Wilmington Trust, National Association, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings
        and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association but is made and intended for the purpose of binding only the Issuer,
        (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied contained herein of the Issuer, all such liability,
        if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) Wilmington Trust, National Association has made no investigation as to the accuracy or completeness of any representations
        and warranties made by the Issuer in this Agreement and (e) under no circumstances shall Wilmington Trust, National Association be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or
        failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

     

        

    Section 4.09.  Communications with Rating Agencies.   If the Securities Intermediary shall receive any written or oral communication from any Rating Agency (or any of their
        respective officers, directors or employees) with respect to the transactions contemplated hereby or under the Basic Documents or in any way relating to the Notes, such party agrees to refrain from communicating with such Rating Agency and to
        promptly (and, in any event, within one Business Day) notify the Administrator of such communication.  Each of the Indenture Trustee and the Securities Intermediary agree to act at the direction of the Administrator with respect to any
        communication to a Rating Agency and further agree that in no event shall such party engage in any oral communication with respect to the transactions contemplated hereby or under the Basic Documents or in any way relating to the Notes with any
        Rating Agency (or any of their respective officers, directors or employees) without the participation of the Administrator.

     

      

    [SIGNATURE PAGE FOLLOWS]

     

    

    

     

    

    

     

    
      6

      
        

    

    IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective officers as of the day and year first above written.

     

    	 	
            BMW VEHICLE LEASE TRUST 2022-1,

          
	 	
            as Issuer

          
	 	 	 
	 	
            By:  

          	
            Wilmington Trust, National Association, not in its

          
	 	 	
            individual capacity but solely as Owner Trustee

          
	 	 	 
	 	
            By:

          	
            /s/ Clarice Wright                                     

              

          
	 	 	
            Name:  Clarice Wright

            

          
	 	 	
            Title:    Vice President

            

          
	 	 	 
	 	
            U.S. BANK NATIONAL ASSOCIATION,

          
	 	
            not in its individual capacity but solely as Indenture Trustee

          
	 	
            and as Secured Party

          
	 	 	 
	 	
            By:

          	
            /s/ Jose A. Galarza                                    

              

          
	 	 	
            Name:  Jose A. Galarza

            

          
	 	 	
            Title:    Vice President

            

          
	 	 	 
	 	
            U.S. BANK NATIONAL ASSOCIATION,

          
	 	
            as Securities Intermediary

          
	 	 	 
	 	
            By:

          	
            /s/ Jose A. Galarza                                    

          
	 	 	Name:  Jose A. Galarza
	 	 	Title:    Vice PresidentExhibit
10.1

 

Re:

[name
of a Selling Shareholder]

and

Shineco
Life Sciences Incorporation (Shineco, Inc.)

Equity
Transfer Agreement

 

01/18/2022

 

    	 

     

    

 

(Page
2)

 

Content

 

	1.
    The parties in the agreement	3
	2.
    Definition and explanation 	3
	3.
    Sale and purchase of Target Equity	5
	4.
    Obligations before closing 	5
	5.
    Closing conditions	5
	6.
    Closing	6
	7.
    Transaction consideration and payment conditions 	6
	8.
    Transitional arrangements 	7
	9.
    Seller representations, undertakings or warranties 	8
	10.
    Purchaser representations, undertakings or warranties 	8
	11.
    Three-year development plan of the Target Company 	9
	12.
    Liability & termination for breach of contract 	9
	13.
    Amendment 	10
	14.
    Notice 	10
	15.
    Confidentiality 	11
	16.
    Taxes and fees 	11
	17.
    Severability 	11
	18.
    Governing Law 	11
	19.
    Litigation 	11
	20.
    Language and Text	12
	 	 
	●
    Annex 1 Resolutions in Target Company shareholder meeting 	
	●
    Annex 2 Transfer (closing) confirmation	

 

    	 

     

    

 

(page
3)

 

This
“Equity Transfer Agreement” (hereinafter referred to as “this Agreement”) was signed by the following parties
at [Chaoyang District, Beijing City, China] on 1/18/2022:

 

1.
The parties in the agreement

 

Seller:

 

[*]
(ID No.: *), a natural person within the territory of the People’s Republic of China with full capacity for civil conduct, is one
of the registered shareholders of the target company, and legally holds 64.2125% of the equity and all corresponding rights and interests
of the target company. Interest is the actual controller of the target company, and Peng He and his team are the operation management
party of the target company. (hereinafter referred to as “Seller”).

 

Purchaser:

 

Shineco
Life Sciences Incorporation (English name: Shineco, Inc.), a limited company established and existing under the laws of the State of
Delaware and listed on NASDAQ (stock code: SISI), with its registered address in 15 Northeast Street, Dover City, Kent County, Delaware,
USA, and China office address Zhengda Center, Room 3310, North Tower, Chaoyang District, Beijing. (hereinafter referred to as: “Purchaser”).

 

Target
Company:

 

Xiang
Peng You Kang (Beijing) Technology Co., Ltd.(the unified social credit code is *), a limited liability company legally established and
existing within the territory of the People’s Republic of China. Its registered address is Science and Technology Park, 21 Torch
Street, Room 401-17, 4th Floor, Building 4, Changping District, Beijing. (hereinafter referred to as the “Target company”);

 

Under
this Agreement, the Seller and the Purchaser are referred to as “Party” respectively, collectively referred to as the “Both
parties”, and each other as the “the other Party”, and the Seller, Purchaser and the Target Company are collectively
referred to as the “All parties”.

 

WHEREAS:
The Seller wishes to sell the Target Equity (as defined below) to the Purchaser in accordance with the terms and conditions set forth
in this Agreement, and the Purchaser agrees to purchase the Target Equity from the Seller in accordance with the terms and conditions
set forth in this Agreement. Therefore, after friendly negotiation, the two parties hereby arrive at agreements as follow:

 

2.
Definition and explanation

 

	 	2.1	In this Agreement and its Annexes, unless the context otherwise
requires, the following words shall have the following meanings in this Agreement:

 

	 	Working days	refers to the calendar days (except Saturdays and Sundays) on which banks operating in China are open for normal business when inter-bank deposit and payment transactions are possible.

 

    	 

     

    

 

(page
4)

 

	 	Base
    Date	June
                                            30, 2021

    

	 	 	 
	 	Renminbi	refers
                                            to Renminbi, the legal tender of China

    

	 	 	 
	 	China	refers
                                            to the People’s Republic of China, excluding Hong Kong Special Administrative Region,
                                            Macau Special Administrative Region and Taiwan for the purpose of this Agreement.

    

	 	 	 
	 	Material
    adverse effect	refers
                                            to any circumstance, change or effect that relates to the business or the Company: such circumstance,
                                            change or effect (a) on the existence, business, assets, intellectual property, liabilities
                                            (including but not limited to contingent liabilities) of the Company, operating results or
                                            financial conditions, or there is sufficient evidence to show that it may cause serious adverse
                                            effects, or cause the company and/or the company’s assets to lose more than ten percent
                                            (10%) of its net assets, or cause the company’s net profit for the year to be less
                                            than Ten percent (10%) of the Company’s predicted total net profit for the year; or
                                            (b) materially adversely affect the Company’s qualifications, licenses or ability to
                                            operate its current business.

    

	 	 	 
	 	Material
    Contract	refer
                                            to that is necessary for the existence, development, financial condition or business of the
                                            company, or constitutes a material restriction on the company, or the absence of such a contract
                                            or agreement will have a material adverse effect on the existence, development, financial
                                            condition or business of the company. All contracts, agreements, memorandums, letters of
                                            intent or other legal documents, whether or not such contracts or agreements are entered
                                            into in the normal course of business operations, including but not limited to: (i) any transaction
                                            value exceeding RMB [100,000] contracts, (ii) contracts to transfer, sell, license, purchase
                                            or dispose of the company’s important property or important intellectual property,
                                            (iii) exclusive contracts or contracts that limit the company’s ability to compete,
                                            (iv) contracts with the company’s top ten partners, engineering or suppliers of raw
                                            materials, commercial contracts signed by customers of sales and engineering contracts, (v)
                                            contracts involving equity sales, equity acquisitions, investments, financing, joint ventures,
                                            mergers and acquisitions, reorganizations, voting rights arrangements, profit sharing, or
                                            transfer of control rights, (vi ) A contract to set encumbrances on the company’s equity
                                            or important property, etc., (vii) A contract or agreement signed with a government department.

    

 

	 	2.2	In
    this Agreement, unless otherwise stated:

 

	 	2.2.1	The
    terms and annexes mentioned in 2.2.1 refer to the terms and annexes of this Agreement;
	 	 	 
	 	2.2.2	The
    headings used in this Agreement are for convenience only and shall not affect the meaning or explanation of this Agreement in any
    way;
	 	 	 
	 	2.2.3	The
    word “including” used in this Agreement shall be construed as “including but not limited to”;
	 	 	 
	 	2.2.4	The
    Attachments form part of this Agreement and shall have the same force and effect as those expressly listed in the main body of this
    Agreement. Any reference to this Agreement shall include the attachments.

 

    	 

     

    

 

(page
5)

 

3.
Sale and purchase of Target Equity

 

	 	3.1	According
    to the terms and conditions stipulated in this Agreement, the Seller intends to sell the Target Equity to the Purchaser. The Purchaser
    intends to transfer the Target Equity, and complete the industrial and commercial registration change of the Target Equity (collectively
    referred to as “this transaction”).
	 	 	 
	 	3.2	The
                                            “Target Equity” referred to in this Agreement refers to the Xiang Peng You Kang
                                            (Beijing) Technology Co., Ltd.(hereinafter referred to as the “Target company”
                                            or “company”) held by the Seller on the Closing Date to be sold to the Purchaser.
                                            “) [48.4483]% Equity.

    

 

4.
Obligations before closing

 

	 	4.1	Disputes,
    disputes, losses, liabilities, etc. arising from the target company’s operations, labor services, taxation, etc. due to the
    business behaviors and events before the closing shall be borne by the Seller;
	 	 	 
	 	4.2	The
    Seller guarantees that he will serve in the Target Company for not less than 3 years after closing.

 

5.
Closing Conditions

 

	 	5.1	Closing
    is subject to the satisfaction or appropriate waiver of the following precedent conditions:

 

	 	5.1.1	The
    Seller has approved the transaction according to its internal organizational documents, and other shareholders have given up the
    right of first refusal (Annex 1: Resolution of the shareholders’ meeting of the Target Company);
	 	 	 
	 	5.1.2	The
    representations, undertakings and warranties made by the Seller under this Agreement will continue to be true, accurate, complete
    and not misleading until the Closing Date;
	 	 	 
	 	5.1.3	The
    Seller does not appear to have failed in any material respect to comply with or perform any of its commitments or obligations under
    this Agreement that need to be complied with or performed by it at or before the Closing;
	 	 	 
	 	5.
    1.4	The
    Purchaser has approved the transaction according to its internal company documents;
	 	 	 
	 	5.1.5	The
    Purchaser has not in any material respect to fail to comply with or perform any of its commitments or obligations under this Agreement
    that need to be complied with or performed by it at or before the Closing;
	 	 	 
	 	5.1.6	There
    are no one or more events with a material adverse effect before the Closing Date, and there is no indication that such events that
    may cause a material adverse effect will occur;
	 	 	 
	 	5.1.7	The
    pre-Closing obligations stipulated in this Agreement and other transaction documents shall be fulfilled by the Seller before the
    formal signing of this Agreement, or on or before the Closing Date, and there is no breach of the pre-Closing obligations;
	 	 	 
	 	5.
    1.8	There
    are no existing or potential actions brought against any party to this Agreement by or to any government agency that attempt to limit
    or materially adversely affect the conditions of the transactions contemplated by this Agreement that affects any claims. 

 

    	 

     

    

 

(page
6)

 

	 	5.2	To
    the extent that Both Parties are obligated to satisfy the relevant prerequisites, they shall use all commercially reasonable efforts
    to realize or facilitate the realization of the prerequisites listed in Article 5.1 above of this Agreement as soon as possible before
    the Closing Date.
	 	 	 
	 	5.3	On
    the basis of friendly negotiation between the two parties, the two parties may sign a separate confirmation letter to waive or partially
    waive the conditions listed in Article 5.1 that cannot be met.
	 	 	 
	 	5.4	All
    parties in this Agreement shall, in accordance with the provisions of applicable laws and regulations, use all reasonable efforts
    to take, or cause others to take, all relevant measures required, appropriate or necessary to handle or cause others to handle all
    such relevant matters as soon as possible, and shall sign and deliver all necessary documents and other materials to enforce the
    terms of this Agreement and to complete and take effect the transactions contemplated by this Agreement.

 

6.
Closing

 

	 	6.1	Within
    [30] days after the signing of this Agreement and the closing conditions stipulated in this Agreement are satisfied or the Purchaser
    is exempted, the Purchaser and Seller shall assist the Target Company to complete the equity closing procedures such as taxation
    and industrial and commercial change of the Target Equity, and obtain a business license. Such industrial and commercial changes
    have clearly reflected the shareholding status after the completion of the equity transfer and other relevant matters contained in
    the transaction documents;
	 	 	 
	 	6.2	Upon
    the completion of the foregoing, all parties to the agreement sign the “Confirmation of Transfer (closing)” [see Annex
    II] to confirm the date of closing, and it is deemed that the closing is completed, and the “Confirmation of Transfer (closing)”
    is signed.
	 	 	 
	 	6.3	Attribution
    of Target Equity and related responsibilities before and after the Closing Date: For the liabilities or payment liabilities of the
    target company, Both Parties agree that, except those listed in the financial due diligence report, any liabilities or payments incurred
    by the Target Company before the Closing Date (excluding the current day), responsibilities (whether the actual payment is required
    before or after the Closing Date) shall be borne by the Seller. Any liabilities or payment liabilities incurred by the Target Company
    from the Closing Date shall be borne by the joint venture company after closing. However, no matter before or after the Closing Date,
    if the Seller’s reasons or the Seller’s disclosure is untrue or incomplete, or the Seller violates the representations,
    commitments or guarantees, the Purchaser or the Target Company after the Closing Date will expand its liabilities or payment obligations
    or increase the value of its equity. In the event of reduction or other losses, the Seller shall be responsible for indemnifying
    the Purchaser for the enlarged liabilities and payment obligations and the reduction in equity value and the loss, and the Purchaser
    shall have the right to directly deduct it from the transaction consideration payable to the Seller. A corresponding reduction will
    be considered in the closing.

 

7.
Transaction Consideration and Payment Conditions

 

	 	7.1	The
    transaction consideration is RMB [33,913,810] of the restricted shares of Shineco, Inc. (SISI) registered in the Transfer Agent (TA)
    system, referring to the average price of the prior fifth and the 30th trading days before December 28, 2021. The price
    was determined by consensus between the two parties at 8 US dollars per share, and converted at the exchange rate (1 US dollar =
    6.37 yuan), and the final transaction consideration was 665,499 Shineco, Inc. (SISI) restricted shares. The stock has a restricted
    period of not more than 12 months (hereinafter referred to as the “Transaction Consideration”).

 

    	 

     

    

 

(page
7)

 

	 	7.2	The
    transaction consideration is determined according to the following methods: [The transaction consideration refers to the transaction
    pricing of similar targets in the market, and comprehensively considers the target company’s existing operating performance
    and expected future high growth factors, and is determined by Both Parties through negotiation].
	 	 	 
	 	7.3	Within
    [30] days after the parties to the agreement complete the closing and sign the “Confirmation of Transfer (Closing)”,
    the Purchaser shall deliver 100% of the total consideration to the Seller, that is, Shineco, Inc. (SISI) restricted shares value
    equivalent [33,913,810] RMB.

 

8.
Transitional arrangements

 

	 	8.1	The
    period from the signing date of this Agreement to the Closing Date (excluding the current day) (“transition period”),
    if the Closing Date is not the end of the month, the transition period shall be the period from the signing date of this Agreement
    to the end of the month closest to the Closing Date . During the transition period, in addition to other obligations (if any) to
    satisfy the conditions precedent to Closing or activities undertaken with the prior written consent of the Purchaser, the Seller
    shall ensure the following:

 

	 	8.1.1	Make
    the Target Company operate in the normal way of business operations as in the past;
	 	 	 
	 	8.1.2	Maintain
    or update all business contracts and operational qualifications involved in the target company;
	 	 	 
	 	8.1.3	Except
    for the normal wear and tear of daily operation, the assets of the Target Company have not suffered substantial or significant value
    impairment; the scope of the assets of the Target Company includes:

 

	 	A.	The
    assets listed in the “Special Financial Due Diligence Report on the Acquisition of Equity Interests of Xiang Peng You Kang
    (Beijing) Technology Co., Ltd. by Shineco, Inc.” issued by the accounting firm on June 30, 2021 as the base date ;
	 	 	 
	 	B.	Intellectual
    property rights directly related to the Target Company (including but not limited to software copyrights, trademarks, domain names,
    etc.);
	 	 	 
	 	C.	As
    of the Closing Date, various business contracts have not been fulfilled and related to the Target Company are still valid;
	 	 	 
	 	D.	On
    the Closing Date, the relevant assets owned by the Target Company but not included in the scope of due diligence.

 

	 	8.
    1.4	The
    Seller shall not directly or indirectly transfer or pledge any target equities or assets of the target company, and shall not establish
    third-party rights on the target equities or assets of the target company, or facilitate, allow or assist the occurrence of any of
    the foregoing events;
	 	 	 
	 	8.1.5	The
    holding, operation and/or transfer for the purpose of this transaction of the Target Equity, the assets of the Target Company do
    not infringe any third party rights.

 

	 	8.2	During
    the transition period, the profits and losses arising from the Target Equity and the assets of the Target Company belong to the Seller.
	 	 	 
	 	8.3	During
    the transition period, Both Parties shall cooperate with each other to further sign or perform any documents that may be required
    to be signed or actions that may be required by Both Parties for the full implementation of this Agreement and the completion of
    this transaction.
	 	 	 
	 	8.4	During
    the transition period, the Seller is responsible for hiring a financial officer to manage the accounts of the Target Company and
    receive financial management training from the Purchaser.
	 	 	 
	 	8.5	During
    the transition period, the Target Company shall set up a board of directors consisting of five directors, of which the Purchaser
    shall designate two directors and the chairman shall be the director designated by the Purchaser. The Seller and the original shareholder
    shall designate two directors. The general manager shall be appointed by the Seller and from the board of directors appointed by
    the original shareholders. Another board of director is hired by the Target Company after the closing. The board of directors implements
    one person, one vote.

 

    	 

     

    

 

(page
8)

 

9.
 Seller’s representations, undertakings or warranties  

 

	 	9.1	The
    Seller makes the following representations, undertakings or warranties to the Purchaser at the time of signing this Agreement:

 

	 	9.1.1	The
    Seller is a natural person with full capacity for civil conduct within the territory of the People’s Republic of China, who
    has the necessary ability, power, authorization and qualifications to sign and perform this Agreement, and once this Agreement is
    officially signed and served, it will be the terms constitute Seller’s legal and binding obligations;
	 	 	 
	 	9.1.2
    	The
    signing and performance of this Agreement by the Seller will not:

 

	 	A.	Cause
    a breach or non-compliance with any bylaw, contract, agreement, arrangement, undertaking, license or other document binding on the
    Seller or any Target Equity;
	 	B.	Causes
    a violation of any applicable law binding on the Seller or any Target Equity.

 

	 	9.1.3
    	There
    is no order made, brought or proposed by or against the Seller, the Target Equity interest in connection with liquidation, closure,
    reorganization, receivership, debt settlement, insolvency, placement in breach of trustee or bankruptcy proceedings or similar events,
    procedure or arrangement.
	 	 	 
	 	9.1.4
    	The
    Seller has the legal and beneficial ownership of each Target Equity. There are no guarantees or other encumbrances in any of the
    Target Equity.

 

	 	9.2	Seller
    warrants that if it becomes aware of any matter that constitutes or may constitute a breach or inconsistency with any of the representations,
    undertakings or warranties set forth in Clause [9.1] and elsewhere in this Agreement, it will promptly disclose such matter in writing
    to Purchaser and bear the responsibility for breach of contract and compensation.

 

10.
Purchaser’s representations, undertakings or warranties

 

	 	10.1
    	At
    the time of signing this Agreement, the Purchaser makes the following representations, undertakings or warranties to the Seller:

 

	 	10.1.1	The
    Purchaser is a company legally registered and established in accordance with Chinese laws and validly existing. The Purchaser has
    the necessary capacity, power, authority and qualifications to enter into and perform this Agreement, and this Agreement, once duly
    executed and delivered, constitutes the Purchaser’s legal and binding obligations in accordance with its terms;
	 	 	 
	 	10.1.2	The
    signing and performance of this Agreement by the Purchaser will not:

 

	 	A.
    	Cause
    a violation of or conflict with Purchaser’s constitutional or organizational documents;
	 	 	 
	 	B.
    	Cause
    a breach or non-compliance with any contract, agreement, arrangement, undertaking, license or other document binding on Purchaser;
    or
	 	 	 
	 	C.
    	Cause
    a violation of any applicable law binding on Purchaser.

 

	 	10.1.3	There
    are no orders, proceedings or arrangements made, instituted or proposed by or against the Purchaser in connection with liquidation,
    closure, reorganization, receivership, debt settlement, insolvency or bankruptcy proceedings or similar events.

 

	 	10.1.4
    	There
    will be sufficient funds to pay the price, and the source of the Purchaser’s fund is legal.

 

	 	10.2
    	The
    Purchaser warrants that if it becomes aware of any matter that constitutes or may constitute a breach or inconsistency with any representation,
    undertaking or warranty under clause 10.1, it will promptly disclose the matter in writing to the Seller.

 

    	 

     

    

 

(page
9)

 

11.
The target company’s three-year development plan

 

	 	11.1
    	Both
    Parties agree that, after the completion of the merger, will immediately start to formulate a strategic development plan for the
    target company, and determine the development goals of the Target Company in the next three years after the acquisition. To ensure
    that the Target Company after the delivery adheres to the company development concept of “inclusive benefit and sharing”,
    focusing on digital health management and life science full-cycle management, on the basis of the original business, focusing on
    the development of internet specialist diagnosis and treatment services, and vocational education for medical technicians and vocational
    skills training certification and big health product business. Strive to establish 100 specialized oncology hospitals in China with
    the characteristics of “early tumor screening”, “precise medicine” and “graded diagnosis and treatment”
    by self-construction or co-construction nationwide in three years. Provide one-stop service of “early diagnosis, early detection,
    and early treatment of boils” to tumor patients; through self-construction or co-construction with relevant vocational colleges,
    and use the expert resources accumulated by the Target Company to cultivate nursing, laboratory and other medical services for the
    society. Professionals in technical occupations; according to the different “physical and mental” characteristics of
    people’s life cycle, organize industry experts and technicians to write free “popular science” books, establish
    a membership system, and recommend and provide “customized” health care product for members.

 

12.
Liability for breach of contract and termination of the agreement

 

	 	12.1	Liability
    for breach of contract
	 	 	 
	 	 	12.1.1
    	If
    the Seller fails to deliver the corresponding equity interests of the Target Company to the Purchaser as agreed in this Agreement,
    the Seller shall bear all the liabilities for breach of contract; if the Purchaser fails to deliver the corresponding consideration
    shares to the Seller according to the agreement, the Purchaser shall assume full responsibility for breach of contract.
	 	 	 	 
	 	12.2	Termination
    of Agreement
	 	 	 
	 	 	12.2.1
    	If
    Both Parties have fulfilled the terms stipulated in this Agreement, this Agreement is deemed to be terminated, and this Agreement
    is no longer binding on either party.
	 	 	 	 
	 	 	12.2.2
    	If
    this Agreement cannot be performed due to force majeure, Both Parties may continue to perform this Agreement after the end of the
    force majeure or Both Parties negotiate to terminate this Agreement, the Purchaser shall return the acquired equity of the Target
    Company of the Seller, and the Seller shall return obtained shares of the Target Company at a corresponding price. 

 

    	 

     

    

 

(page
10)

 

13.
Amendment

 

	 	13.1
    	Unless
    otherwise agreed in this Agreement, this Agreement may only be amended, supplemented and modified in writing by Both Parties.

 

14.
Notice

 

	 	14.1
    	Any
    notice related to this Agreement shall be written in Chinese and delivered by hand delivery, fax, registered mail or express mail
    using a courier company recognized by both parties. Notices are effective upon receipt and are deemed to be received: (1) if delivered
    by hand, registered mail or express mail, on delivery; or (2) if delivered by facsimile, on transmission. In either case, if delivered
    outside of business hours, notice shall be deemed to be received at the beginning of business hours on the next business day.
	 	 	 
	 	14.2
    	For
    the purposes of clause 14.1, the contact details of the parties are as follows:

 

Seller:
[*]

 

Addressee:
[*]

Address:
Science and Technology Park, 21 Torch Street, Room 401-17, 4th Floor, Building 4, Changping District, Beijing

Tel:
[*]

Email:
[*]

 

 Purchaser:

 

Shineco
Life Sciences Incorporation (Shineco, Inc.)

Recipient:
Zheming Ren

Address:
Zhengda Center, North Tower, Room 3310, Chaoyang District, Beijing

Tel:
[*]

Email:
[*]

 

Target
Company:

 

Xiang
Peng You Kang (Beijing) Technology Co., Ltd.

Recipient:
Peng He

Address:
Science and Technology Park, 21 Torch Street, Room 401-17, 4th Floor, Building 4, Changping District, Beijing

Tel:
[*]

Email:
[*]

 

    	 

     

    

 

(page
11)

 

	 	14.3
    	Both
    Parties may change the above address or contact information from time to time in good faith. As long as one party sends a notice
    of change to the other party according to the above address or contact information, the changed address or contact information shall
    replace the above address and contact information.

.

15.
Confidentiality

 

	 	15.1
    	Matters
    involved in this Agreement and this transaction, any and all contacts and negotiations between the parties regarding this Agreement
    and this transaction, and the existence of this Agreement are confidential matters. Except for disclosure to relevant laws and other
    professional advisors who are obliged to keep confidentiality to the parties or as required by relevant laws, the relevant rules
    of any relevant stock exchange, and a government agency or other authority having jurisdiction over any party to this Agreement.
    Neither party shall disclose any such confidential matters to any third party other than the signatory of this Agreement without
    the prior written consent of the other party, except in the case of disclosure as required by the authorities.

 

16.
Taxes and Fees

 

	 	16.1
    	Taxes,
    related costs and expenses related to this transaction shall be paid and borne by Both Parties in accordance with the agreement or
    their respective applicable laws.

 

17.
Severability

 

	 	17.
    1 	If
    any provision or other provision of this Agreement is found to be invalid, illegal or unenforceable under any law, regulation or
    public policy, provided that the economic or legal substance of the transaction contemplated by this Agreement is not materially
    adversely affected in any way by either party, All other terms and provisions of this Agreement shall remain in full force and effect.
    In the event that any provision or other provision is found to be invalid, illegal or unenforceable, the parties to this Agreement
    shall negotiate in good faith to amend this Agreement in an acceptable manner to achieve as closely as possible the original intent
    of the parties in order to, to the greatest extent possible, complete the transactions contemplated by this Agreement as originally
    planned.

 

18.
Governing Law

 

	 	18.1
    	This
    Agreement is governed by and construed in accordance with the laws of China.

 

19.
Litigation

 

	 	19.1
    	Any
    disputes, disputes or claims arising out of or in connection with this Agreement, the transactions contemplated under this Agreement,
    or the interpretation, breach, termination or validity of this Agreement shall be resolved through negotiation between the parties.
    Such negotiation shall begin immediately upon written notice by either party to the other party. If the dispute cannot be resolved
    within [15] days after the date of service of the written notice, the dispute shall be submitted to the people’s court of the
    place where the contract is signed upon request of any party to the dispute. The place of action shall be [Beijing, China], and the
    litigation fee (including but not limited to case acceptance fees, attorney fees, appraisal fees, evaluation fees, preservation fees,
    etc.) shall be borne by the losing party.

 

    	 

     

    

 

(page
12)

 

	 	19.2
    	When
    any dispute arises or litigation is ongoing, Both Parties shall continue to perform their respective obligations under this Agreement
    and have the right to exercise their respective rights under this Agreement, except for the disputed matters.

 

20.
Language and Text

 

	 	20.1
    	This
    Agreement is written in Chinese and will take effect from the date when the legal representative or authorized representative of
    each party signs (or seals) and affixes the official seal of that party.
	 	 	 
	 	20.2
    	The
    original of this Agreement is in six original copies, each party holds one copy, and the Target Company after the closing retains
    four copies for procedures such as equity change. Each copy has the same legal effect. In the event of a change in equity, when the
    competent government department requires a simplified or compliant text, all parties shall formulate in accordance with the spirit
    determined in this Agreement. In case of inconsistency with this Agreement, this Agreement shall prevail.

 

(No
text below)

 

    	 

     

    

 

(page
13)

 

(There
is no text on this page. It is the signing page of the Equity Transfer Agreement)

 

This
is to certify that this Agreement has been signed by each party by its duly authorized representatives on the date stated at the beginning
of this Agreement.

 

Seller:

(signature):

 

Purchaser:

Shineco
Inc. seal

Legal
representative or authorized representative (signature or seal):

 

Target
company:

Xiang
Peng You Kang (Beijing) Technology Co., Ltd. (official seal)

Legal
representative or authorized representative (signature or seal):

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