Document:

Exhibit 10.6

 

OPERATING AGREEMENT

OF

ROC DIGITAL MINING MANAGER LLC

 

 

THIS OPERATING AGREEMENT of
ROC DIGITAL MINING MANAGER LLC (the “Company”) is entered into and made effective as of the 27th day of
July, 2022 (the “Agreement”), by and among the Persons who are identified as Members on Schedule 1 attached
hereto, each of whom has executed a counterpart signature page of this Agreement as a “Member” pursuant to the Act.

 

RECITALS

 

WHEREAS, the Company was formed
as a Delaware limited liability company by the filing of its Certificate of Formation with the Secretary of the State of Delaware on July
27, 2022; and

 

WHEREAS, the parties hereto
wish to provide for the ongoing operation and administration of the Company and to set out fully the rights, obligations and duties of
the Members in accordance with the Act (as defined below).

 

NOW, THEREFORE, in consideration
of the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto hereby agree as follows:

 

ARTICLE ONE

 

DEFINED TERMS

 

Section 1.01. Defined Terms.
The defined terms used in this Agreement shall, unless the context otherwise requires, have the respective meanings specified in this
Section 1.01. For all purposes of this Agreement, the following definitions are to be equally applicable to both the singular and plural
forms of the terms defined.

 

“Act” shall refer
to the Delaware Limited Liability Company Act in effect as of the date of this Agreement, and as amended from time to time.

 

“Additional Members”
shall refer to those persons admitted to the Company as Members after the date of this Agreement.

 

“Affiliated Person”
or “Affiliate” means, with respect to any Member, as the case may be, any other Person who is a member of the Member’s
Immediate Family, or a Parent, a Subsidiary, or a Subsidiary of a Parent with respect to such Member.

 

“Aggregate Capital Contribution”
means the total Capital Contribution made by a Member as reduced by (i) any distributions of cash to the Member, other than Tax Distributions
made under Section 4.02 hereof, and (ii) the fair market value (reduced by associated liabilities) of any property distributed to the
Member.

 

“Agreement” means
this Operating Agreement, as the same may be hereafter amended, modified or restated from time to time.

 

 

 

 

    	 	1	 

     

    

 

“Available Cash Flow”
means the aggregate cash receipts collected by the Company (including, without limitation, sales in the ordinary course of business, interest
income, proceeds from the sale of capital assets and the proceeds from any business interruption insurance, but excluding Capital Contributions
from Members, proceeds of any debt financing and the proceeds of any casualty, life, or other insurance, unless otherwise determined by
the Initial Manager) less (i) the payment or accrual for payment of all current operating expenses; (ii) any debt service payments; and
(iii) provisions for the reasonable capital requirements of the Company, including working capital, appropriate to enable the Company
to carry out its purposes, but disregarding depreciation, amortization and other noncash items. The Initial Manager’s determination
of Available Cash Flow and its components, including, without limitation, the incurring of capital expenses and provisions for reasonable
present or future capital requirements and appropriate investments and reinvestments of by or in Company, shall be conclusive, in the
absence of bad faith.

 

“Bankruptcy” means,
with respect to a Member: (a) the making of an assignment for the benefit of such Member’s creditors; (b) the filing of a voluntary
petition in bankruptcy by such Member; (c) adjudication of such Member as bankrupt or insolvent, or the entry against such Member of an
order of relief in any bankruptcy or insolvency proceeding; (d) the filing of a petition or answer by such Member seeking for such Member
any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute or regulation;
(e) the filing by such Member of an answer or other pleading admitting or failing to contest the material allegations of a petition filed
against him, her or it in any proceeding of this nature; or (f) seeking consent to or acquiescence in the appointment of a trustee, receiver
or liquidator of such Member or all or any substantial part of his, her, or its properties.

 

“Capital Account”
means the capital account of a Member, maintained in accordance with the provisions of Section 3.03 of this Agreement.

 

“Capital Contribution”
means, with respect to any Member, the total amount of cash and fair market value (reduced by associated liabilities) of property contributed
to the Company by such Member.

 

“Code” means the
Internal Revenue Code of 1986, as amended from time to time (or any corresponding provisions of succeeding law).

 

“Distributable Assets”
means all assets of the Company from any and all sources determined by the Initial Manager to be available for distribution, including,
but not limited to, Available Cash Flow.

 

“Entity” means
any general partnership, limited partnership, corporation, trust, business trust, cooperative, limited liability company, limited liability
partnership, association or any other form which is a legal entity under applicable law.

 

“Fiscal Year”
means the Fiscal Year as described in Section 8.02 of this Agreement.

 

“Immediate Family”
means, with respect to any Member, his or her spouse, children, grandchildren, the spouses of any of the foregoing’ or trusts for
their benefit.

 

“Initial Manager”
means the Initial Manager as described in Section 5.02 of this Agreement.

 

“IRS” means the
Internal Revenue Service.

 

 

 

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“Legal Representatives”
means, with respect to any individual, a duly appointed executor, administrator, guardian, conservator, personal representative or other
legal representative appointed as a result of the death or incompetency of such individual.

 

“Managed Entity”
means Roc Digital Mining I LLC, a Delaware limited liability company.

 

“Manager or Managers”
shall refer to the Person or Persons listed as Managers on Schedule 1 attached hereto and any Person who becomes an additional, substitute
or replacement Manager as permitted by this Agreement, in each such Person’s capacity as a Manager of the Company.

 

“Members” shall
refer to the Persons listed as Members on Schedule 1 attached hereto, any Additional Members, and any Substituted Members listed
as such in the books and records of the Company who shall, from time to time, be Members of the Company. Notwithstanding anything herein
to the contrary, the Initial Manager shall have the authority to amend Schedule 1 from time to time to reflect the books and records
of the Company.

 

“Notification”
means a written notice containing the information required by this Agreement to be communicated to any Person and sent by registered,
certified, Federal Express, first-class mail, e-mail, or facsimile transmission (“fax”) to such Person at the last
known address of such Person; provided, however, that any communication containing such information actually received by such Person
shall constitute Notification.

 

“Offered Shares”
means the Shares subject to a ROFR Offer as provided in Section 6.03 in this Agreement.

 

“Parent” means,
with respect to any Entity, any Person which (A) owns directly, or indirectly through one or more Entities, fifty percent (50%) or more
of the voting or beneficial interest in such Entity or (B) otherwise has the right or power, whether through ownership of securities,
rights under agreements or otherwise, to control such Entity.

 

“Person” means
any individual or Entity, and the heirs, executors, administrators, legal representatives, successors and assigns of such individual or
Entity where the context so admits.

 

“Profits” and
“Losses” means for each year or other period, an amount equal to the Company’s taxable income or loss for such year
or period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required
to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss).

 

“Regulations”
means, except where the context indicates otherwise, the permanent, temporary, proposed or proposed and temporary regulations of the Department
of the Treasury under the Code, as such regulations may be lawfully changed from time to time.

 

“ROFR Offer” means
a written offer to the Company and other Members by a Member who wishes to sell all or part of his, her or its Shares and has received
a bona fide written offer as provided in Section 6.03 of this Agreement.

 

“Share” or “Shares”
means the equity interests in the Profits, Losses, cash flow, and distributions from the Company designated as Shares in Section 3 of
this Agreement. As of the date hereof, the Company has issued the number of Shares listed on Schedule 1 hereto.

 

“Subsidiary” means,
with respect to any Person, (A) any Entity in which such Person owns directly, or indirectly through one or more Subsidiaries, fifty percent
(50%) or more of the voting or beneficial interest or (B) any Entity which such Person otherwise has the right or power to control, whether
through ownership of securities, rights under agreements or otherwise.

  

“Substituted Member”
means any Person admitted to the Company as a Member pursuant to the provisions of Section 6.02D and who is listed as such in the books
and records of the Company.

 

“Tax Distribution”
has the meaning set forth in Section 4.02 of this Agreement.

 

“Transfer” or
“Transferred” or any other capitalized grammatical variation thereof, unless otherwise specifically provided, refers to the
sale, exchange, assignment, distribution (upon liquidation or otherwise), encumbrance, hypothecation, gift, pledge, transfer or other
disposition or alienation, including a transfer incident to a divorce or separation, whether absolute, contingent or collateral, in any
way, of all or any part of a Share or, as the context may require, of an interest, whether direct or indirect, in any Entity which owns
any Shares, except any pledge or other hypothecation effected for the purpose of securing any borrowing of the Company which has been
approved by the Members in accordance with this Agreement.

 

 

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ARTICLE TWO

 

NAME, OFFICE, AGENT, NATURE OF BUSINESS, AUTHORITY
AND TERM

 

Section 2.01. Name and
Principal Place of Business. The name of the Company shall be Roc Digital Mining Manager LLC. The Initial Manager may change the Company’s
name at any time or from time to time. The initial principal place of business of the Company shall be located at 33 Commercial Street,
Raynham, MA 02767 (the “Principal Office”). The Initial Manager may, at any time, change the location of the Principal
Office upon five (5) days’ notice to the Members.

 

Section 2.02. Agreement.

 

The Agreement shall be the
sole source of agreement of the Members, and, except to the extent a provision of the Agreement expressly incorporates Federal income
tax rules by reference to Sections of the Code or Regulations or is expressly prohibited or ineffective under the Act, the Agreement shall
govern even when inconsistent with, or different than, the provisions of the Act or any other law or rule.

 

Section 2.03. Nature of
Business.

 

The purpose of the company
is to render management services to certain businesses, including, without limitation, operating in the bitcoin and other digital asset
mining industry and such other industries as determined by the Initial Manager, to charge fees for the management services provided, and
to engage in any other lawful business, purpose or activity for which limited liability companies may be organized under the Act. The
Company may engage in any and all activities to further and accomplish the purpose described in the preceding sentence, and in addition
may engage in any lawful business permitted by the Act or the laws of any jurisdiction in which the Company may do business, provided
that such activities are in furtherance of, and consistent with, the Company’s primary purpose, which is to serve as manager of
the Managed Entity (the “Primary Business”). In engaging in the Primary Business, the Members agree as follows:

 

A.        all services in relation to the organization, promotion, management and administration of Managed Entity will be handled by Roc Digital
Mining LLC (“ROCDM”), a Member of the Company, directly without compensation or reimbursement of expenses from the
Company, with any compensation and expenses necessary to provide those services to the Managed Entity being paid by ROCDM solely from
any compensation it is entitled to receive under the terms of the operating agreement for the Managed Entity and its share of distributions
from the Company, unless all Members agree otherwise, provided, that the Company is authorized to engage legal, accounting and other professionals
directly for the organization and offering of interests in the Managed Entity;

 

B.         Consistent with the above agreement of the Members, the Company shall have the authority to do all things necessary or convenient to accomplish
its purpose and to operate its business as described herein.

 

Section 2.04. Authority
of the Company.

 

In order to carry out its
purposes and not in limitation thereof, the Company is empowered and authorized to do any and all acts and things necessary, appropriate,
proper, advisable, incidental to or convenient for the furtherance and accomplishment of its purposes, and for the protection and benefit
of the Company, as permitted under the Act.

 

 

 

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Section 2.05. Term. 

 

The Company shall continue
in full force until the dissolution of the Company pursuant to the provisions of Article Seven or under the Act.

 

Section 2.06. Registered
Agent for Service of Process and Registered Office. 

 

The registered agent for the
service of process and the registered office shall be that Person and location reflected in the Certificate of Formation as filed in the
office of the Secretary of State of the State of Delaware. The Initial Manager may, from time to time, change the registered agent or
office through appropriate filings in the office of the Secretary of State of the State of Delaware. In the event the registered agent
ceases to act as such for any reason or the registered office shall change, the Initial Manager shall promptly designate a replacement
registered agent or file a notice of change of address as the case may be. If the Initial Manager shall fail to designate a replacement
registered agent or change of address of the registered office, any Member may designate a replacement registered agent or file a notice
of change of address.

 

Section 2.07. Foreign Qualification.

 

The Manager shall cause to
be filed on behalf of the Company such corporate, assumed or fictitious name or foreign qualification certificate or certificates as may
from time to time be required by law in any jurisdiction in which the Company conducts business.

 

ARTICLE THREE

 

MEMBERS AND CAPITAL

 

Section 3.01. Shares. 

 

Upon execution and delivery
of this Agreement, the initial Members of the Company shall be the Persons identified on Schedule 1 hereto. The Aggregate Capital
Contributions as of the date hereof and the number of Shares issued to each Member are set forth on Schedule 1 to this Agreement.

 

THE SHARES ISSUED PURSUANT TO THIS OPERATING
AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES OR “BLUE SKY”
LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE SOLD OR TRANSFERRED UNLESS THEY ARE REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, AND ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS, OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION
IS AVAILABLE. SUCH SHARES ARE SUBJECT TO THE RESTRICTIONS ON TRANSFER SET FORTH IN THIS AGREEMENT.

 

Section 3.02. Reserved.

 

Section 3.03. Share Certificates.

 

Shares or other membership
interests of the Company shall not be certificated unless otherwise determined by the Initial Manager. In the event the Initial Manager
determines that certificates shall represent such Member’s ownership of Shares or other membership interests of the Company, any
such certificate shall be in such form as may be prescribed from time to time by the Initial Manager (“Share Certificates”),
which shall include, without limitation, a signature by any one Manager, conspicuously noted on the face or back of the certificate a
statement of the existence of applicable restrictions on transfer pursuant to this Agreement, applicable security laws or any agreement
to which the Company is a party and a statement that the Company will furnish a copy of the restriction to the holder of such Share Certificate
upon written request and without charge.

 

 

 

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Section 3.04. Capital Accounts.

 

A. The Company shall maintain
a separate capital account for each Member. Each Member’s initial Capital Account balance shall equal such Member’s initial
contribution to the capital of the Company. Each Member’s Capital Account shall thereafter be increased by (i) any cash or the fair
market value of any property thereafter contributed by such Member (net of liabilities assumed by the Company and liabilities to which
such contributed property is subject), (ii) the amount of any Company liabilities that are assumed by such Member, and (iii) such Member’s
distributive share of the Company’s Profits and items in the nature of income and gain. Each Member’s Capital Account shall
be decreased by (i) such Members distributive shares of the Company’s Losses and items in the nature of losses and deductions, (ii)
the amount of such Member’s individual liabilities that are assumed by the Company, and (iii) the amount of cash or the fair market
value of any property distributed by the Company to such Member (net of liabilities assumed by such Member and liabilities to which such
distributed property is subject). Other appropriate adjustments to each Member’s Capital Account shall also be made from time to
time, in accordance with the rules set forth in applicable Regulations under Section 704 of the Code or the requirements of any other
applicable proposed, final or temporary regulations thereunder. It is the intent of the Members that the Capital Accounts shall be determined
and maintained in accordance with said Code Section and said Regulations, and this Section 3.04 shall be construed in a manner consistent
therewith. No Member shall be entitled to interest on his, her or its Capital Account or on any Capital Contribution.

 

B. Except as may be specifically
provided herein, no Member shall have the right to withdraw all or any part of his, her or its Capital Contribution from the Company.
No Member shall have any right to demand or receive property or cash of the Company in return of his, her or its Capital Contribution
except as may be specifically provided in this Agreement.

 

C. The original Capital Account
established for any Substituted Member shall be in the same amount as, and shall replace, the Capital Account of the Member which such
Substituted Member succeeds, and, for the purposes of this Agreement, such Substituted Member shall be deemed to have made the Capital
Contribution, to the extent actually paid in, of the Member which such Substituted Member succeeds. To the extent a Substituted Member
receives less than 100% of the Shares of a Member he, she or it succeeds, the original Capital Account and Capital Contribution of such
Substituted Member shall be in proportion to the Shares he, she or it receives, and the Capital Account and Capital Contribution of the
Member who retains Shares in the Company shall be in proportion to the Shares he, she or it retains.

 

Section 3.05. Liability
of the Members. Additional Capital Contributions.

 

Except as otherwise required
by this Agreement or the Act, no Member shall be liable for any debts, liabilities, contracts or any other obligations of the Company.
Except as otherwise required by this Agreement or the Act, a Member has no liability in excess of the amount of contributions that he,
she or it is obligated to make to the Company and his, her or its share of the Company’s assets and undistributed profits. No Member
shall be required to lend any funds to the Company or, after his, her or its initial Capital Contribution has been paid, to make any further
Capital Contributions to the Company.

 

ARTICLE FOUR

 

DISTRIBUTIONS. ALLOCATIONS OF PROFITS AND LOSSES

 

Section 4.01 Allocation
of Profits and Losses.

 

Subject to the provisions
of Sections 4.03, 4.04, 4.05 and 6.04 hereof, Profits and Losses shall be allocated among all Members in proportion to the number of Shares
held by each such Member during any Fiscal Year in accordance with the rules of Section 706 of the Code and applicable Regulations thereunder.

 

 

 

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Section 4.02 Tax Distributions.

 

In addition to the distributions
to be made pursuant to Section 4.03 below, the Company shall attempt, but not be compelled, to make a distribution (“Tax
Distribution”) to each Member in an amount which the Initial Manager shall determine in good faith (in consultation with the
Company’s independent accountants, if so desired) is sufficient to fund the tax obligations attributable to all Shares of such Member
on account of the cumulative allocation to them of taxable income in excess of tax losses pursuant to this Agreement. For purposes of
this Section 4.02, the highest effective combined income tax rate applicable to any individual Member shall be used to determine
the amount sufficient to fund the tax obligations of all Members on account of the cumulative allocation to them of taxable income in
excess of tax losses pursuant to this Agreement. All amounts distributed to a Member with respect to any fiscal year pursuant to this
Section 4.03 shall be reduced by any distributions made pursuant to Section 4.03 for such fiscal year or prior to the expiration
of the ninety (90) day period following the end of such fiscal year. Any amount distributed pursuant to this Section 4.02 will
be deemed to be an advance distribution of amounts otherwise distributable to the Members pursuant to Section 4.03 and will reduce
the amounts that would subsequently otherwise be distributable to the Members pursuant to those Sections.

 

Section 4.03. Distributions
of Distributable Assets. 

 

In addition to and following
any Tax Distribution, Distributable Assets, if any, shall be distributed at the discretion of the Initial Manager, at such times and in
such amounts as the Initial Manager deems appropriate after satisfying all current Company obligations and establishing such cash reserves
as the Initial Manager determines advisable in their sole and absolute discretion. Distributable Assets not in redemption of a Member’s
Shares or in liquidation of the Company shall be distributed to all of the Members pro rata in accordance with the number of Shares
held by each such Member.

 

Section 4.04. Allocations
with Respect to Contributed Property. 

 

Notwithstanding any other
provision of this Agreement to the contrary (and consistent with Section 4.05), items of income, gain, loss, and deduction with respect
to property contributed to the Company by any Member shall be allocated among the Members so as to take into account the variation between
the basis of the property to the Company and its fair market value at the time of contribution in accordance with the requirements of
Section 704(c) of the Code and applicable Regulations thereunder.

 

Section 4.05. Curative
Allocations.

 

A.        The
provisions of this Agreement with respect to maintenance of Capital Accounts (Section 3.03), Allocation of Profits and Losses (Section
4.01), Distributions of Distributable Assets (Section 4.03), Allocations With Respect to Contributed Property (Section 4.04) and Liquidation
(Section 7.02), among others, are designed (a) to give effect to the parties agreement that all Members generally will share in Company
distributions in accordance with their respective Share ownership, and (b) to comply with all relevant Code requirements concerning the
distributive allocation of the Company’s items of income, gain, loss, deduction and credit to the Members (the “Distributive
Allocations”).

 

B.        To
the extent that the Distributive Allocations set forth herein are otherwise contrary to any Code requirements, then, notwithstanding any
other provision of this Agreement, such Distributive Allocations shall be adjusted to the extent necessary to satisfy all said Code requirements.

 

 

 

 

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ARTICLE FIVE

 

MANAGEMENT

Section 5.01. Management of the Company.

 

The overall management and
control of the Company’s business and affairs shall be vested in not less than one (1) nor more than three (3) Managers, and if
there shall be only one, in the Initial Manager. Within the limits specified, the number of Managers shall be determined from time to
time by vote of the Managers or by the Members, as the case may be. All management and other responsibilities not specifically reserved
to the Members in this Agreement shall be vested in the Managers, and the Members shall have no voting rights except as specifically provided
in this Agreement. Each Manager shall devote such time to the affairs of the Company as is reasonably necessary for performance by each
Manager of his or her duties, provided such Persons shall not be required to devote full time to such affairs.

 

A.        Except as provided in subsection 5.01(C) and (D), the Managers shall have all power and authority necessary to carry out the purposes,
business and objectives of the Company and the Managed Entity consistent with the Primary Business, including:

 

		(i)	to manage the business of the Company and the Managed Entity,
including through Persons employed by the Company and the Managed Entity for such purpose;
		(ii)	to execute, deliver, make, modify or amend such documents and
instruments, in the name of the Company or the Managed Entity, as the Managers may deem necessary or desirable in connection with the
management of the business of the Company and the Managed Entity;
		(iii)	to acquire, sell, transfer, assign, finance, convey, lease, mortgage
or otherwise dispose of all or any part of the business of the Company or the Managed Entity and/or all or any part of the assets of
the Company or the Managed Entity;
		(iv)	to borrow money and otherwise obtain credit and other financial
accommodations;
		(v)	to perform or cause to be performed all of the Company’s
and the Managed Entity's obligations under any agreement to which the Company or the Managed Entity is a party, including without limitation,
any obligations of the Company or the Managed Entity or otherwise in respect of any indebtedness secured in whole or in part by, or by
lien on, or security interest in, any asset(s) of the Company or the Managed Entity;
		(vi)	to employ, engage, retain or deal with any Persons to act as employees,
agents, brokers, accountants, lawyers or in such other capacity as the Managers may deem necessary or desirable;
		(vii)	to appoint individuals to act as officers of the Company or the
Managed Entity and delegate to such individuals such authority to act on behalf of the Company or the Managed Entity and such duties
and functions as the Managers shall determine, including such duties as would normally be delegated to officers of a corporation holding
similar offices;
		(viii)	to adjust, compromise, settle or refer to arbitration any claim
in favor of or against the Company or the Managed Entity or any of their assets, to make elections in connection with the preparation
of any federal, state and local tax returns of the Company or the Managed Entity, and to institute, prosecute, and defend any legal action
or any arbitration proceeding;
		(ix)	to acquire and enter into any contract of insurance necessary
or proper for the protection of the Company, the Managed Entity and/or any Member and/or any Manager and/or any officers and/or directors
of a Manager or the Managed Entity, including without limitation to provide the indemnity described in Section 5.06 or any portion thereof;
		(x)	to establish a record date for any distribution to be made under
Article Four; and
		(xi)	to perform any other act which the Managers may deem necessary
or desirable for the Company, or the Managed Entity or their business.

 

 

 

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B.         Notwithstanding
Sections 5.01(A) or (B), the Managers shall not, without the unanimous consent of all Members, be entitled to take any of the following
actions in relation to the Company, except to the extent authorized herein:

 

		(i)	incur any expense or indebtedness
in excess of $2,000, other than the cost of preparing tax returns for the Company and except as included in an operating budget that
is approved with the Members by unanimous consent;
		(ii)	hire
any employees, consultants or independent contractors, other than professionals engaged to prepare tax returns for the Company and legal
counsel to provide advice to the Company on its duties and responsibilities under this Agreement;
		(iii)	form
a new Managed Entity;
		(iv)	authorize a capital call to the Members;
		(v)	take advantage of, on behalf of
the Company, any federal or state bankruptcy or insolvency or similar law for the relief of debtors;
		(vi)	authorize
the dissolution of the Company;
		(vii)	make any material change in the
Primary Business;
		(viii)	merge, consolidate, or otherwise
combine the Company (or agree to do any of the preceding) with another Person;
		(ix)	sell off all or a substantial portion
of the business of the Company in one or a series of related transactions;
		(x)	amend or modify this Agreement.
		(xi)	issue any additional Shares to a
Member;
		(xii)	admit an additional Member;
		(xiii)	change the voting rights of any
Member;
		(xiv)	cause the Company to enter into any agreement or transaction with
a Member, Manger or its Affiliates.

 

C.         Notwithstanding Sections 5.01(A) or (B), the Managers shall not, without the unanimous consent of all Members, be entitled to take
any of the following actions in relation to the Managed Entity, except to the extent authorized herein:

 

		(i)	approve an operating budget;
		(ii)	incur aggregate indebtedness for
borrowed money in excess of $50,000;
		(iii)	take advantage of, on behalf of
the Managed Entity, any federal or state bankruptcy or insolvency or similar law for the relief of debtors;
		(iv)	authorize the dissolution of the
Managed Entity;
		(v)	make any material change in the
general nature of the business of the Managed Entity;
		(vi)	merge, consolidate, or otherwise
combine the Managed Entity (or agree to do any of the preceding) with another Person;
		(vii)	sell off all or a substantial portion of the business of the Managed
Entity in one or a series of related transactions;
		(viii)	amend the operating agreement of
the Managed Entity;
		(ix)	cause the Managed Entity to enter
into any agreement or transaction with a Member, Manager or its Affiliates.

 

D.        A meeting of the Managers shall be conducted only in the presence of a quorum of the Managers. If there are more than two (2) Managers
of the Company, then a quorum shall be a majority of the Managers. If there are two (2) or fewer Managers of the Company, then a quorum
shall be all of the then Managers. A Manager may participate in a meeting through use of a telephone, electronic video screen communication
or real-time electronic transmission by and to the meeting. Participation by a Manager in a meeting through use of such device shall be
considered presence of that Manager for purposes of a quorum. Notice of a meeting of the Managers shall be given to each Manager by telephone,
e-mail or in writing at least 48 hours in advance of the meeting. Notice shall comprise, and need not comprise more than, a statement
of the time and place of the meeting. If all Managers consent, a meeting of the Managers may commence before 48 hours have passed from
the delivery of notice. Presence or participation in a meeting by a Manager shall be deemed waiver of such notice by such Manager. The
Managers may approve items without being present at a meeting via written consent.

 

 

 

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Section 5.02. Designation of Managers. Duty
to Continue.

 

As of the date hereof, the
Managers of the Company shall be Nick Marrocco and John Kelly, with Nick Marrocco acting as Initial Manager. The Initial Manager shall
have the power, subject to the eligibility criteria set forth herein, to appoint new Manager(s) and to remove any Manager at any time,
for any or no reason, with or without cause. The removal of a Manager may entail, in the sole discretion of the Initial Manager, cancellation
of the entirety of that Manager’s Shares in the Company, except as to any then accrued rights in respect thereof. Any additional
or successor Manager(s) shall be chosen by the Initial Manager if he, she, or it so decide. Upon the resignation, retirement or other
removal of the final Manager, a successor Manager shall be chosen by the Initial Manager.

 

Section 5.03. Binding the Company.

 

Any action taken by the Initial
Manager as Initial Manager of the Company shall bind the Company and any other Managers and shall be deemed to be the action of the Company
and of any other Managers. The signature of the Initial Manager on any agreement, contract, instrument or other document shall be sufficient
to bind the Company in respect thereof and conclusively evidence the authority of such Manager and the Company with respect thereto, and
no third-party need look to any other evidence or require joinder or consent of any other party. Notwithstanding the foregoing, if the
Managers are in disagreement concerning how to proceed with respect to any matter affecting the Company, the determination of how to proceed
will be made by the Initial Manager.

 

Section 5.03. Members Have No Managerial Authority.

 

Except as expressly authorized
by this Article 5 or as expressly required under the Act, no Member shall otherwise have the right, power, or authority to participate
in the management of the Company. Unless expressly and duly authorized in writing to do so by a Manager or Managers, no Member shall have
any power or authority to bind or act on behalf of the Company in any way, to pledge its credit, or to render it liable for any purpose.

 

Section 5.04. Compensation of Managers and
Members.

 

A.         Expenses incurred by a Manager or Member on behalf of the Company shall be borne by such individual Member of the Company. Expenses incurred
by a Manager or Member on behalf of the Managed Entity may be reimbursed by the Managed Entity pursuant to a reimbursement policy approved
by the unanimous consent of the Members.

 

B.         No payment shall be made by the Company to any Manager or Member, or their Affiliates, for such Manager’s, Member’s or Affiliate’s
services to the Company. No payment shall be made by the Managed Entity to any Member or Manager, or their Affiliates, for such Manager’s,
Member’s or Affiliate’s services to the Managed Entity, except as set for the in the operating agreement for the Managed Entity.

 

Section 5.05. Reserved.

 

 

 

 

    	 	10	 

     

    

 

Section 5.06. Indemnification.
Limitation of Liability.

 

Each Manager shall not be
liable, responsible or accountable for damages or otherwise to the Company, or to the Members, and, to the fullest extent allowed by law,
the Managers shall be entitled to indemnity from and held harmless by the Company for any liability incurred and/or for any act performed
by them within the scope of the authority conferred on them, by this Agreement, and/or for any act omitted to be performed except for
their gross negligence or willful misconduct, which indemnification shall include all reasonable expenses incurred, including reasonable
legal and other professional fees and expenses. The doing of any act or failure to do any act by a Manager, the effect of which may cause
or result in loss or damage to the Company, if done in good faith to promote the best interests of the Company, shall not subject the
Manager to any liability to the Members except for gross negligence or willful misconduct. No Manager shall be personally liable to the
Company or to any of its Members for monetary damages for any breach of fiduciary duty by such Manager as such notwithstanding any provision
of law imposing such liability. The rights of indemnification provided in this section are intended to provide indemnification of the
Managers to the fullest extent permitted by the Act (or any successor thereto), including any restrictions or limitations contained therein,
regarding an LLC’s indemnification of its Managers, and will be in addition to any rights to which such Manager may otherwise be
entitled by contract or as a matter of law and shall extend to its, hers, or his heirs, personal representatives and assigns. No amendment
to or repeal of this Section shall apply to or have any effect on the liability or alleged liability of any Manager for or with respect
to any acts or omissions of such Manager occurring prior to the effective date of such amendment or repeal. Any act or omission suffered
or taken by the Managers on behalf of the Company or in furtherance of the interests of the Company in good faith in reliance upon and
in accordance with the advice of legal counsel, accountants, financial or others advisors will be full justification for any such act
or omission, and the Managers will be fully protected in so acting or omitting to act so long as such legal counsel, accountants, financial
or others advisors were selected with reasonable care.

 

Section 5.07. Waiver of Fiduciary Duties.

 

This Agreement is not intended
to create or impose any fiduciary duty on any of the Managers or their Affiliates. Notwithstanding anything to the contrary contained
in this Agreement or otherwise applicable provision of law or equity, to the maximum extent permitted by the Act and any other Applicable
Law, the Managers and their Affiliates, shall owe no duties or liabilities (including fiduciary duties) to the Company or any Member;
provided, however that the Managers shall have the duty to act in accordance with the implied contractual covenant of good faith and fair
dealing; and provided further that such exclusion or limitation of liability shall not extend to misappropriation of assets or funds of
the Company. The provisions of this Agreement, to the extent that they restrict or otherwise modify, or eliminate, the duties and liabilities,
including fiduciary duties, of the Managers otherwise existing at law or in equity, are agreed by the Company, the Members and the Managers
to replace such other duties and liabilities of the Managers. Any standard of care or duty imposed by or under the Act or any other law,
rule or regulation (or any judicial decision based on or interpreting the same) shall be modified, waived or limited, to the extent permitted
by law, as required to permit the Managers to act under this Agreement and to make any decision the Managers are authorized to make hereunder,
as long as such action or decision complies with the standard of conduct set forth in this Article 5 of this Agreement and is in accordance
with the other provisions of this Agreement. The Members expressly acknowledge and agree that this modification of fiduciary duties is
binding.

 

Section 5.08. Other Activities.

 

The Members, Managers and
any Affiliates of any of them may engage in and possess interests in other business ventures and investment opportunities of every kind
and description, independently or with others, including serving as managers and general partners of other limited liability companies
and partnerships with purposes similar to those of the Company. Neither the Company nor any other Member or Manager shall have any rights
in or to such ventures or opportunities or the income or profits therefrom.

 

 

    	 	11	 

     

    

 

ARTICLE SIX

 

TRANSFERABILITY OF SHARES. REDEMPTION OF SHARES

 

Section 6.01. Restrictions
on Transfer.

 

Except as otherwise expressly
permitted in this Agreement, no Member shall have the right to Transfer any of his, her or its Shares or any interest in an Entity owning
Shares without the written consent of (x) the Initial Manager, which consent shall be given or denied in the Initial Manager’s sole
and absolute discretion, (y) unanimous approval by the Members, and (z) compliance with Sections 6.02 and 6.03 herein, provided that any
Member may transfer its Shares in the Company to a wholly-owned subsidiary of the Member without complying with subsections (x), (y) or
(z) above. Except as otherwise expressly permitted in this Agreement, any attempt to Transfer without the above required express written
consent shall be void and ineffectual and shall not bind the Company.

 

Section 6.02. Transferees
and Substituted Members.

 

A.         If a Member is in Bankruptcy,
the bankruptcy trustee shall have all the rights of a Member as the bankrupt possessed to Transfer all or any part of the Member’s
Shares and to join with the transferee thereof in satisfying conditions precedent to such assignee becoming a Substituted Member.

 

B.         Where the Initial Manager
and the requisite Members have consented to a Transfer of Shares pursuant to Section 6.01, the Company need not recognize such assignment
for any purpose unless there shall have been filed with the Company a duly executed counterpart of the instrument making such assignment
signed by both the assignor and the transferee which evidences the written acceptance by the assignee of his, her or its agreement to
be bound by all of the terms and provisions of this Agreement and any other agreement with the Company to which the transferor was a party
and represents that such Transfer was made in accordance with all applicable laws and regulations (including investor suitability requirements).

 

C.         If a Member Transfers all
of his, her or its Shares, the Member shall cease to be a Member of the Company upon the admission of a Substituted Member in his, her
or its stead.

 

D.        Any Person who is a transferee
of any Shares of a Member shall become a Substituted Member when the Initial Manager has accepted such Person as a Member of the Company,
the books and records of the Company reflect such Person as admitted to the Company as a Member, such Person has satisfied the requirements
of Section 6.01, Section 6.02B and Section 9.01A, and when such Person shall have paid all reasonable legal fees and filing costs incurred
by the Company in connection with his, her or its substitution as a Member; provided, however, that the Initial Manager’s
consent to the substitution of any transferee of Shares as a Substituted Member may be granted or withheld in their sole discretion.

 

E.         Any Person who is the transferee
of any of the Shares of a Member but who does not become a Substituted Member and desires to make a further Transfer of any such Shares
shall be subject to all the provisions of this Article Six to the same extent and in the same manner as any Member desiring to make a
Transfer of the Shares.

 

Section 6.03. Right of
First Refusal.

 

A.        If any Member receives
a bona fide written offer for his, her or its Shares and desires to sell all or part of such Shares, such Member shall be under an obligation,
at the time such Member requests written consent to such assignment as required by Section 6.01, to offer in writing (the “ROFR
Offer”) all of such Shares to the Company and the other nonoffering Members for purchase. The ROFR Offer shall state the name
and address of the proposed transferee, the number of Shares to be purchased by the proposed transferee (the “Offered Shares”),
the price per Share to be paid by the proposed transferee and all other terms or conditions of such proposed sale or transfer. The Company
may, at any time within thirty (30) days after receipt by it of such ROFR Offer, elect to accept such ROFR Offer with respect to all or
part of the Offered Shares, by so notifying the offering Member in writing and delivering to him, her or it a written acceptance of such
ROFR Offer.

 

 

 

    	 	12	 

     

    

 

B.         In the event that the Company
does not elect to accept the ROFR Offer or elects to accept only part of the Offered Shares within such 30-day period, the Company shall
notify the offering Member and each non-offering Members. The non-offering Members, or any of them, may, at any time within fifteen (15)
days after receipt of such notice from the Company, elect to accept all or part of the remaining Offered Shares (pro rata unless the accepting
Members designate different proportions) by notifying the offering Member in writing and delivering to the offering Member written acceptance
of such ROFR Offer.

 

C.        Within 30 days after the
acceptance of the ROFR Offer, the offering Member shall tender to the Company or to the non-offering Members who shall have accepted the
ROFR Offer, as the case may be, at the principal offices of the Company the certificate or certificates representing the accepted Offered
Shares, duly endorsed in blank by the offering Member or with duly endorsed stock powers attached thereto, all in form suitable for the
transfer of such Offered Shares to the Company or such non-offering Members, as the case may be. Upon receipt of such Offered Shares,
the Company or the non-offering Members, as the case may be, shall deliver to the offering Member the consideration for such Offered Shares
in the amount described in the ROFR Offer.

 

D.        After the time at which
any Offered Shares are required to be delivered to the Company for transfer to the Company or the non-offering Members (who shall have
accepted the ROFR Offer) pursuant to Section 6.03C above, the Company shall not make distributions to the offering Member on account of
such Offered Shares or permit the offering Member to exercise any of the privileges or rights of a Member with respect to such Offered
Shares, but shall, in so far as permitted this Agreement and by law, treat the Company or such non-offering Members as the owner of such
Offered Shares.

 

E.         If the Company and the
non-offering Members do not elect to accept all of the Offered Shares, the offering Member may sell the remaining Offered Shares to the
proposed transferee named in the ROFR Offer, such sale to be made only in strict accordance with the terms therein stated provided,
however, that such Transfer of Offered Shares is made pursuant to the terms of Section 6.01. If the offering Member shall fail
to make such transfer within thirty (30) days following the obtaining of written consent to Transfer as required by Section 6.01, such
Offered Shares shall again become subject to all the restrictions of this Section 6.03. The right of the Company to accept the ROFR Offer
is assignable to any successor or assignee.

 

Section 6.04. Termination
Events.

 

In the event of the divorce
of a Member, as a result of which the Member does not succeed to all of his or her spouse’s community property interest, if any,
in the Shares held by such Member (the “Spousal Interest”), there shall be deemed to have occurred a “Termination
Event” with respect to the Member. Upon the occurrence of such a Termination Event, the Spousal Interest may be purchased from the
spouse, as applicable, by the Company in the sole and absolute discretion of the Managers, for the benefit of the Members in accordance
with the terms set forth in this Article 6, subject to the foregoing provisions in this Section 6.03.

 

Section 6.05. Allocations
Subsequent to Transfer.

 

In the event of the admission
or withdrawal of a Member, or in the event all or any Shares are validly transferred under the terms of this Article 6, all Company items
allocated under Article 4 hereof shall be further allocated based upon the ownership of the respective Shares prior to and following the
effective date of such admission, withdrawal or transfer in a manner consistent with the requirements of Section 706 of the Code.

 

Section 6.06. Compulsory
Withdrawal.

 

 A.        Any Member who shall intentionally breach a material term of this Agreement and who remains in breach thirty (30) days after receiving written notice of breach and after having reasonable opportunity to cure, and who fails to cure, shall withdraw (“Withdrawing Member”) from the Company when requested to do so, upon thirty (30) days written notice by the remaining Members. The gross amount to be paid to the Withdrawing Member an amount equal to the value of Withdrawing Member's capital account, except as modified under Subsection (b) hereunder.

 

 B.         Thereafter, from said gross amount due to such Withdrawing Member, there shall also be deducted, all damages resulting from his breach of this Agreement.

 

 

    	 	13	 

     

    

 

 

ARTICLE SEVEN

 

DISSOLUTION AND LIQUIDATION OF THE COMPANY

 

Section 7.01. Events Causing
Dissolution.

 

A.       The
Company shall be dissolved only on the first to occur of the following

events:

 

(i)    
the entry of an order for relief with respect to the Company in the U.S. Bankruptcy Court;

 

(ii)    the sale of substantially all
of the Company’s assets (taken as a whole) and distribution of the proceeds therefrom unless the Managers, with the written consent
of the Requisite Members, elect to continue the Company;

 

(iii)   the decision of the Managers to liquidate the Company, with the written consent of the Requisite Members (taking into account Members
that are Managers); or

 

(iv)   upon the occurrence
of any of the events described in Section 701 or 702 of the Act, which events include (but are not limited to) the death, retirement,
resignation, expulsion, bankruptcy or dissolution of any Member, the Managers, with the written consent of the remaining Requisite Members,
elect to dissolve the Company within ninety (90) days following such event.

 

Dissolution of the Company
shall be effective on the day on which the event occurs giving rise to the dissolution. The Company shall not be terminated until the
assets of the Company shall have been liquidated and distributed as provided in Section 7.02. Notwithstanding the dissolution of the Company,
prior to the termination of the Company, as aforesaid, the business of the Company and the affairs of the Members as such shall continue
to be governed by this Agreement.

 

B. Members shall look solely
to the assets of the Company for all distributions with respect to the Company and their Capital Contribution thereto, and shall have
no recourse therefore (upon dissolution or otherwise) against any Member (including a Member that is a Manager), or any Affiliate of a
Member.

 

Section 7.02. Liquidation.

 

A. Upon the dissolution of
the Company, its affairs shall be wound up and it shall be liquidated and the proceeds of such liquidation and the Company’s other
assets shall be distributed as follows:

 

(i)    
All of the Company’s ascertained debts and liabilities to creditors, including Members, shall be paid and discharged in the order
provided by applicable law.

 

(ii)    A reserve
shall be set aside in an amount reasonably required in the judgment of the Initial Manager to provide for contingent or other liabilities
of the Company.

 

 

 

    	 	14	 

     

    

 

(iii)   The Company’s Profit or Loss (including without limitation any gain or loss resulting from any sales or other dispositions of Company
property in connection with the liquidation of the Company) shall be computed and shall be allocated to the Members in accordance with
Article 4 hereof, and the Members’ Capital Accounts shall be adjusted in accordance with Section 3.03 hereof.

 

(iv)   Distribution
shall be made to the Members, in liquidation of the Shares of all of the Members, to those Members with positive Capital Account balances,
after taking into account all Capital Account adjustments provided for in Section 3.03 hereof (other than those made as a result of any
such liquidating distributions) in the ratios of such positive Capital Account balances, as so adjusted.

 

(v)    The
remainder of the Company assets, if any, shall be distributed to the Members in accordance with their Shares.

 

(vi)   Each Member
shall receive his, her or its share of such distributions in cash and/or in kind, and the portion of such share that is received in cash
may vary from Member to Member, all as the Managers may in their sole discretion determine. Notwithstanding the foregoing, if any assets
of the Company are to be distributed in kind, such assets shall be distributed on the basis of the fair market value thereof, and any
Member entitled to any interest in such assets shall receive such interest therein as a tenant-in-common with all other Members so entitled
(except in the case of any Shares held by Members as joint tenants or tenants by the entirety). If any asset is to be distributed in kind,
the Members’ Capital Accounts shall be adjusted as provided for in Section 3.03 hereof (consistent with the requirements of Regulations
under Sections 704(b) and 704(c) of the Code) before any such distribution is made to reflect the increases or decreases to said Capital
Accounts which would have occurred if such asset to be distributed in kind had been sold for its fair market value by the Company immediately
prior to such distribution.

 

(vii)  As soon as reasonably practicable, the remaining balance, if any, of the reserve established in accordance with Subparagraph (ii) hereof
shall be distributed to the Members in the manner set forth herein.

 

B.        Distribution of Distributable
Assets, cash or other property to the Members in accordance with the provisions of Paragraph A hereof shall constitute a complete return
to the Members of their respective interests in the Company assets.

 

C.        The winding up of the Company’s
affairs and the liquidation and distribution of its assets shall, subject to the provisions of the Act, be conducted exclusively by the
Managers, who are empowered and authorized to do any and all acts authorized by law for these purposes.

 

ARTICLE EIGHT

 

BOOKS AND RECORDS, ACCOUNTING. REPORTS, TAX
ELECTIONS. ETC.

 

Section 8.01. Books and
Records. 

 

The books and records of the
Company shall be maintained by the officers of the Company, or if no officers shall have been appointed, by the Managers in accordance
with applicable law at the principal office of the Company and shall be available for examination at such location by any Manager or such
Manager’s duly authorized representative at any and all reasonable times for any purpose reasonably related to the Manager’s
interest in the Company.

 

Section 8.02. Accounting
and Fiscal Year. 

 

The books of the Company shall
be maintained in accordance with accounting methods employed for Federal income tax reporting purposes. The Fiscal Year of the Company
shall end December 31 of each year, unless otherwise required by Section 706 of the Code.

 

 

 

    	 	15	 

     

    

 

Section 8.03. Bank Accounts
and Investments. 

 

The funds of the Company shall
be held in the name of the Company. These funds shall be deposited in the name of the Company in such bank accounts in such banking institutions
as the Initial Manager shall determine, and withdrawals therefrom shall be made only in the regular course of Company business on such
signature or signatures as the Members shall determine. The funds of the Company shall not be commingled with the funds of any Person.

 

Section 8.04. Reports.

 

The Company shall deliver
to the Members with respect to each Fiscal Year no later than the date prescribed for filing such information as shall be necessary for
the preparation of Members’ Federal, state or other income tax returns.

 

ARTICLE NINE

 

MISCELLANEOUS PROVISIONS

 

Section 9.01. Appointment
of the Initial Manager as Attorney-in-Fact. 

 

A.        Each Member, including
each Additional or Substituted Member, by the execution and delivery of this Agreement, irrevocably constitutes and appoints the Initial
Manager as his, her or its true and lawful agent and attorney-in-fact with full power and authority in such Member’s name, place
and stead to execute, acknowledge, deliver, swear to, file and record at the appropriate public offices such documents as may be necessary
or appropriate to carry out the provisions of this Agreement, including but not limited to:

 

(i)    
all counterparts of this Agreement, and any amendment or restatement thereof, including all certificates (including the certificate(s)
contemplated by Section 9.03C. hereof) and instruments, which the Initial Manager deems appropriate to organize, qualify or continue the
Company as a limited liability company in the jurisdictions in which the Company may conduct business or in which such organization, qualification
or continuation is, in the opinion of the Initial Manager, necessary or desirable to protect the limited liability of any Member;

 

(ii)    all amendments
to this Agreement adopted in accordance with the terms hereof and all instruments which the Initial Manager deems appropriate to reflect
a change or modification of the Agreement in accordance with the terms hereof;

 

(iii)   all documents or instruments which the Initial Manager deems appropriate to reflect the admission of a Member (including any Substituted
Member), the dissolution of the Company, sales or transfers of Shares, or the initial amount or increase or reduction in amount of any
Member’s Capital Contribution or reduction in any Member’s Capital Account; and

 

(iv)   any document
or instrument deemed necessary to effectuate the provisions of this Agreement.

 

B.        The appointment by the
Members of the Initial Manager as attorney-in-fact in Section 9.01A, shall be deemed to be a power coupled with an interest, in recognition
of the fact that each of the Members under this Agreement will be relying upon the power of the Initial Manager to act as contemplated
by this Agreement in any filing and other action on behalf of the Company, and shall survive, and not be affected by the subsequent bankruptcy,
death, incapacity, disability, adjudication of incompetence or insanity, or dissolution of any Person hereby giving such power or the
transfer or Transfer of all or any of the Shares of such Person; provided however, that in the event of the Transfer of all of a Member’s
Shares, the foregoing power of attorney of a transferor Member shall survive such transfer only until such time as the transferee shall
have been admitted to the Company as a Substituted Member and all required documents and instruments shall have been duly executed, filed
and recorded to effect such substitution.

 

 

 

    	 	16	 

     

    

 

Section 9.02. Counterparts.

 

A.        The Members and any Additional
or Substituted Member shall each become a signatory hereof by signing such number of counterpart signature pages to this Agreement and
such other instruments and in such manner as the Members shall determine. By so signing, the Members, any Additional or Substituted Member,
as the case may be, shall be deemed to have adopted, and to have agreed to be bound by, all the provisions of this Agreement.

 

B.         This Agreement may be executed
in several counterparts, all of which together shall constitute one agreement binding on all parties hereto, notwithstanding that all
the parties have not signed the same counterpart.

 

Section 9.03. Amendments.

 

A.        In addition to the amendments
otherwise authorized herein, amendments may be made to this Agreement from time to time by the Managers; provided, however, that
without the consent of all of the Members, this Agreement may not be amended so as to (i) modify the limited liability of a Member; (ii)
alter the Shares of a Member (except in connection with the admission or withdrawal of a Member to or from the Company or in connection
with the issuance of Shares in exchange for an additional Capital Contribution by a Member ) or reduce the percentage of Shares which
is required to consent to any action hereunder; or (iii) modify this Section 9.03A.

 

B.         If this Agreement shall
be amended in connection with the adding or substituting a Member, the amendment to this Agreement shall be signed by the Members and
by the Person to be substituted or added and, if a Member is to be substituted, by the assigning Member.

 

C.         In making any amendments,
there shall be prepared and filed for recordation by the Members such documents and certificates as shall be required to be prepared and
filed under the Act and under the laws of any other jurisdictions under which the Company is then formed or qualified.

 

Section 9.04. Partnership
Representative.

 

A.         The Initial Manager shall be designated as the “partnership representative” (the “Partnership Representative”)
of the Company. The Partnership Representative shall have sole authority to act on behalf of the Company for purposes of subchapter C
of Chapter 63 of the Code and any comparable provisions of state or local income tax laws for so long as it is a Member and willing to
serve in that capacity. For purposes of this Section 9.04, unless otherwise specified, all references to provisions of the Code
shall be to such provisions as enacted by the Bipartisan Budget Act of 2015 as such provisions may subsequently be modified. Should there
be any questions or controversy with the Internal Revenue Service or other taxing authority involving the Company, such person shall act
as the agent of the Company to resolve such question or controversy and may, on behalf of the Company, incur any expenses he deems necessary
or advisable in the interest of the Members in connection with any such question or controversy, including professional fees and the cost
of any protest, litigation and/or appeals;

 

B.          If the Company qualifies to elect pursuant to Code Section 6221(b) (or successor provision) to have federal income tax audits and other
proceedings undertaken by each Member rather than by the Company, then the Partnership Representative may cause the Company to make such
election;

 

C.          Notwithstanding other provisions of this Agreement to the contrary, if any “partnership adjustments” (as defined in Code Section
6241(2)) is determined with respect to the Company, the Partnership Representative, in its discretion, may cause the Company to elect
pursuant to Code Section 6226 to have such adjustment passed through to the Member for the year to which the adjustment relates (i.e.,
the “reviewed year” within the meaning of Code Section 6225(d)(1)). In the event that the Partnership Representative
has not caused the Company to so elect pursuant to Code Section 6226, then any “imputed underpayment” (as determined in accordance
with Code Section 6225) or “partnership adjustment” that does not give rise to an “imputed underpayment” shall
be apportioned among the Members of the Company for the taxable year in which the adjustment is finalized in such manner as may be necessary
(as determined by the tax representative in good faith) so that, to the maximum extent possible, the tax and economic consequences of
the partnership adjustment and any associated interest and penalties are borne by the Members based upon their interests in the Company
for the reviewed year; and

 

 

 

    	 	17	 

     

    

 

D.          The Partnership Representative is authorized to (A) extend the statute of limitations for assessment and (B) enter into a settlement agreement
with the Internal Revenue Service on behalf of the Company.

 

Section 9.05. Binding Provisions.

 

The covenants and agreements
contained herein shall be binding upon, and inure to the benefit of, the heirs, executors, administrators, personal representatives, successors
and assigns of the respective parties hereto.

 

Section 9.06. Applicable
Law. 

 

This Agreement shall be construed
and enforced in accordance with the laws of the State of Delaware.

 

Section 9.07. Notice. 

 

Any notice or other communication
required or permitted hereunder shall be in writing and shall be deemed to have been given when received, if personally delivered or sent
by facsimile, and when deposited, if placed in the U.S. mails for delivery by registered or certified mail, return receipt requested,
postage prepaid, addressed to the Members at the addresses shown on Schedule 1. Addresses may be changed by written notice given
pursuant to this section of the Agreement. Any notice given hereunder may be given on behalf of any party by his, her or its counsel or
other authorized representatives.

 

Section 9.08. Separability
of Provisions.

 

Each provision of this Agreement
shall be considered separable and if for any reason any provision or provisions hereof are determined to be invalid and contrary to any
existing or future law, such invalidity shall not impair the operation of or affect those portions of this Agreement which are valid.

 

[Rest of page intentionally left blank]

 

 

    	 	18	 

     

    

 

IN WITNESS WHEREOF,
the undersigned have signed this Operating Agreement of ROC DIGITAL MINING MANAGER LLC as of the day and year indicated below and effective
as of the day and year first above written.

 

 

	 	COMPANY:
	 	 
	 	ROC DIGITAL MINING MANAGER LLC
	 	 
	 	By: /s/ Nick Marrocco                               
	 	Name/Title: Nick Marrocco, Manager
	 	Date:
	 	 
	 	 
	 	INITIAL MANAGER:
	 	 
	 	/s/ Nick Marrocco                                     
	 	Nick Marrocco
	 	Date:
	 	 
	 	 
	 	MANAGERS:
	 	 
	 	/s/ Nick Marrocco                                    
	 	Nick Marrocco
	 	Date:
	 	 
	 	/s/ John Kelly                                         
	 	John Kelly
	 	Date:

 

  

 

    	 	19	 

     

    

 

 

 

	 	MEMBERS:
	 	 
	 	Roc Digital Mining LLC
	 	 
	 	By: /s/ Nick Marrocco                               
	 	Name/Title: Nick Marrocco, Manager
	 	Date:
	 	 
	 	 
	 	Lighthouse Point Consulting LLC
	 	 
	 	By: /s/ John Kelly                                     
	 	Name/Title: John Kelly, its Manger
	 	Date:
	 	 
	 	 
	 	BitMine Immersion Technologies, Inc.
	 	 
	 	By: /s/ Jonathan Bates                               
	 	Na,e/Title: Jonathan Bates, its CEO
	 	Date:
	 	 

 

 

 

 

 

    	 	20	 

     

    

 

ROC DIGITAL MINING MANAGER LLC

 

 

Schedule 1

 

As of July 27, 2022

 

 

Managers, Members, and Equity Ownership

 

	Members	Shares	Capital Contribution	Date of Issuance
	Roc Digital Mining LLC	33	$1000	7/27/2022
	Lighthouse Point Consulting LLC	33	$1000	7/27/2022
	BitMine Immersion Technologies, Inc.	33	$1000	7/27/2022
	TOTAL:	99	$3000	 

 

 

	Initial Manager
	Nick Marrocco

 

	Managers
	Nick Marrocco
	John Kelly

 

 

 

 

 

 

 

    	 	21	 

     

    

 

ROC DIGITAL MINING MANAGER LLC

 

OPERATING AGREEMENT

 

SPOUSAL CONSENT

 

I, being the spouse of a party
to the Operating Agreement dated ____ __, 2022 (the “Agreement”) of Roc Digital Mining Manager LLC, a Delaware limited
liability company (the “Company”) who is a Member of the Company, do hereby consent to the provisions of the Agreement
and acknowledge and certify on my own behalf that:

 

1.          I have read the Agreement and understand its contents.

 

2.          I am aware that, by the provisions of the Agreement, under certain limited circumstances my spouse agrees to sell to the other Members,
or otherwise grants to the other Members an option to purchase, part or all of his or her Shares in the Company, including my community
property interest (if any) in such Shares.

 

3.          I am aware that, by the provisions of the Agreement, in the event that my spouse and I are divorced, I, or my legal representatives, may
be required to sell my community property interest (if any) in the Shares of my spouse (the “Spousal Interest”) to
the Members of the Company if my spouse does not succeed to such community property interest.

 

4.          I hereby consent to the sale of my community property interest (if any) pursuant to the terms and conditions of the Agreement, approve
of the provisions of the Agreement and agree that my spouse’s Shares and my Spousal Interest in it are subject to the provisions
of the Agreement. I promise that I will not take action at any time to hinder the operation of the Agreement with respect to my spouse’s
Shares and my Spousal Interest in it, in accordance with the terms of the Agreement.

 

5.          I have been given the opportunity to retain and consult with separate legal counsel with respect to the Agreement and my community property
interest (if any) in the Shares of my spouse.

 

In the case of any inconsistency
between this Spousal Consent and the provisions of the Agreement, the provisions of the Agreement shall control.

 

	 	Signature: _____________________________
	 	Name (Printed: _________________________
	 	Name of Spouse (Printed): _________________
	 	Date: ________________________________
	 	Address: _____________________________
	 	_____________________________________
	 	_____________________________________
	 	Email: ________________________________
	 	 
	 	 

 

 

    	 	22Exhibit 10.1

 

EXECUTION VERSION

 

 

 

 

STOCK PURCHASE AGREEMENT

 

 

 

between

 

JX LUXVENTURE LIMITED

 

and

 

SHENZHEN ZHONGJIYINGFENG INVESTMENT CO., LTD.

 

Dated as of October 19, 2022

 

     

     

    

 

TABLE OF CONTENTS

 

	 	Page
	 	 
	ARTICLE I
	 
	DEFINITIONS
	 
	SECTION 1.01. Certain Defined Terms	1
	SECTION 1.02. Definitions	2
	SECTION 1.03. Interpretation and Rules of Construction	2
	 	 
	ARTICLE II
	 
	PURCHASE AND SALE
	 	 
	SECTION 2.01. Purchase and Sale of the Common Shares	3
	SECTION 2.02. Purchase Price	3
	SECTION 2.03. Promissory Note	3
	SECTION 2.04. Closing	4
	SECTION 2.05. Deliveries by the Seller	4
	SECTION 2.06. Deliveries by the Purchaser	5
	 	 
	ARTICLE III
	 
	REPRESENTATIONS AND WARRANTIES OF THE SELLER
	 	 
	SECTION 3.01. Organization, Authority and Qualification of the Seller	5
	SECTION 3.02. Capitalization	5
	SECTION 3.03. No Conflict	6
	 	 
	ARTICLE IV
	 
	REPRESENTATIONS AND WARRANTIES OF THE PURCHASER
	 	 
	SECTION 4.01. Organization, Authority and Qualification of the Purchaser	6
	SECTION 4.02. No Conflict	6
	SECTION 4.03. Governmental Approval	7
	SECTION 4.04. Investment Purpose	7
	SECTION 4.05. Sufficiency of Funds; Financial Solvency	7
	SECTION 4.06. Brokers	7

 

    i

     

    

 

	ARTICLE V
	 
	ADDITIONAL AGREEMENTS
	 	 
	SECTION 5.01. Confidentiality and Non-Solicitation	7
	SECTION 5.02. Tax and Financial Statement Cooperation and Exchange Information	8
	SECTION 5.03. Procedures for Assets Not Transferred	9
	SECTION 5.04. Sufficiency of Funds	10
	SECTION 5.05. Evidence of Share Transfer	10
	 	 
	ARTICLE VI
	 
	INDEMNIFICATION
	 	 
	SECTION 6.01. Survival of Representations, Warranties and Covenants	10
	SECTION 6.02. Indemnification by the Purchaser	11
	SECTION 6.03. Limitations on Indemnification	11
	SECTION 6.04. Notice of Loss; Third-Party Claims	11
	SECTION 6.05. Remedies	12
	 	 
	ARTICLE VII
	 
	GENERAL PROVISIONS
	 	 
	SECTION 7.01. Further Action	12
	SECTION 7.02. Expenses	13
	SECTION 7.03. Notices	13
	SECTION 7.04. Entire Agreement	13
	SECTION 7.05. Severability	14
	SECTION 7.06. Governing Law	14
	SECTION 7.07. Specific Performance	15
	SECTION 7.08. Counterparts	15
	SECTION 7.09. Assignment	15
	SECTION 7.10. Amendment	15
	SECTION 7.11. Waiver	15
	SECTION 7.12. No Third Party Beneficiaries	16

 

    ii

     

    

 

STOCK PURCHASE AGREEMENT (this
“Agreement”), dated as of October 19, 2022, between JX Luxventure Limited, a company organized under the laws of the
Republic of the Marshall Islands (the “Seller”), and Shenzhen Zhongjiyingfeng Investment Co., Ltd., a company incorporated
under the laws of the People’s Republic of China (the “Purchaser”).

 

WHEREAS, the Seller owns all
the issued and outstanding common shares, par value $1.00 per share (the “Common Shares”), of Hongri International
Holdings Limited, a company formed under the laws of the British Virgin Islands (“Hongri”); and

 

WHEREAS, the Seller wishes to
sell to the Purchaser, and the Purchaser wishes to purchase and accept from the Seller, the Common Shares, upon the terms and subject
to the conditions set forth herein;

 

NOW, THEREFORE, in consideration
of the premises and the mutual agreements and covenants hereinafter set forth, and intending to be legally bound, the Seller and the Purchaser
hereby agree as follows:

 

ARTICLE I

 

DEFINITIONS

 

SECTION 1.01. Certain Defined Terms. For purposes of
this agreement:

 

“Action”
means any claim, action, suit, arbitration, inquiry, proceeding or investigation by or before any Governmental Authority.

 

“Affiliate”
means, with respect to any specified Person, any other Person that, directly or indirectly, through one or more intermediaries, controls,
is controlled by, or is under common control with, such specified Person.

 

“Business Day”
means any day that is not a Saturday, a Sunday, or any other day on which banks are required or authorized by law to be closed in the
People’s Republic of China.

 

“Encumbrance”
means any security interest, pledge, hypothecation, mortgage, lien (including environmental and Tax liens), violation, charge, lease,
license, encumbrance, servient easement, adverse claim, reversion, reverter, preferential arrangement, restrictive covenant, condition
or restriction of any kind, including any restriction on the use, voting, transfer, receipt of income or other exercise of any attributes
of ownership.

 

“Governmental Authority”
means any federal, national, supranational, state, provincial, local, or similar government, governmental, regulatory or administrative
authority, agency or commission or any court, tribunal, or judicial or arbitral body.

 

“Governmental Order”
means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Authority.

 

“Law” means
any federal, national, foreign, supranational, state, provincial, local or administrative statute, law, ordinance, regulation, rule, code,
order, requirement or rule of law (including common law) or a legally binding directive
of, or issued by, a Governmental Authority.

 

    1

     

    

 

“Person”
means any individual, partnership, firm, corporation, limited liability company, association, trust, unincorporated organization or other
entity, as well as any syndicate or group that would be deemed to be a person under Section 13(d)(3) of the Securities Exchange Act of
1934, as amended.

 

“Seller Bank Account”
means a bank account to be designated by the Seller in written notice to the Purchaser at least one Business Day prior to the first payment
by the Purchaser to the Seller pursuant to the Promissory Note.

 

“Tax” means
any and all income, capital, capital gains, franchise, windfall profits, transfer, stamp, property, excise, net worth and similar taxes,
fees, levies, duties, tariffs and other charges of any kind (together with any and all interest, penalties, additions to tax and additional
amounts imposed with respect thereto) imposed by any Governmental Authority.

 

“Tax Return”
means any and all returns, reports and forms (including elections, declarations, amendments, schedules, information, returns, or attachments
thereto) required to be filed with a Governmental Authority, or provided for under applicable Law, with respect to Taxes.

 

SECTION 1.02. Definitions. The following terms
have the meanings set forth in the Sections set forth below:

 

	Definition	 	Location
	“Agreement”	 	Preamble
	“Closing”	 	2.04
	“Common Shares”	 	Recitals
	“Hongri”	 	Recitals
	“Loss”	 	6.02
	“Pledge and Security Agreement”	 	2.02
	“Promissory Note”	 	2.03
	“Purchase Price”	 	2.02
	“Purchaser”	 	Preamble
	“Seller”	 	Preamble

  

SECTION 1.03. Interpretation and Rules of Construction.

 

(a) In
this Agreement, except to the extent otherwise provided or that the context otherwise requires:

 

(i) when
a reference is made in this Agreement to an Article, Section, Exhibit or Schedule, such reference is to an Article or Section of, or a
Schedule or Exhibit to, this Agreement unless otherwise indicated;

 

    2

     

    

 

(ii) the
table of contents and headings for this Agreement are for reference purposes only and do not affect in any way the meaning or interpretation
of this Agreement;

 

(iii) whenever
the words “include,” “includes” or “including” are used in this Agreement, they are deemed to be followed
by the words “without limitation”;

 

(iv) the
words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement,
refer to this Agreement as a whole and not to any particular provision of this Agreement;

 

(v) all
terms defined in this Agreement have the defined meanings when used in any certificate or other document made or delivered pursuant hereto,
unless otherwise defined therein;

 

(vi) the
definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms;

 

(vii) any
Law defined or referred to herein or in any agreement or instrument that is referred to herein means such Law or statute as from time
to time amended, modified or supplemented, including by succession of comparable successor Laws;

 

 (viii) references to a Person are also to its successors and permitted assigns;

 

(ix) the use of “or” is not intended
to be exclusive unless expressly indicated otherwise; and

 

(x) references
to sums of money are expressed in lawful currency of the United States of America, and “$” refers to U.S. dollars.

 

ARTICLE II

 

PURCHASE AND SALE

 

SECTION 2.01. Purchase and Sale of the Common
Shares. Upon the terms and subject to the conditions of this Agreement, at the Closing, the Seller shall sell, assign, transfer, convey
and deliver, or cause to be sold, assigned, transferred, conveyed and delivered, to the Purchaser the Common Shares, and the Purchaser
shall purchase and accept the Common Shares.

 

SECTION 2.02. Purchase Price. The purchase
price for the Common Shares shall be $10,000,000 (the “Purchase Price”). The entire Purchase Price shall be payable
to the Seller pursuant to the terms of a promissory note as set forth below, such promissory note to be secured by a Pledge and Security
Agreement (the “Pledge and Security Agreement”).

 

SECTION 2.03. Promissory Note.

 

A 5% secured promissory note shall be issued at the
Closing by the Purchaser to the Seller in the principal amount of $10,000,000 (the “Promissory Note”). The Promissory
Note shall provide for, among other things, a term and amortization period
of twenty-four (24) months, with payments be made in the following installments:

 

(a) The
first installment payment of $1,000,000 plus any accrued interest shall be made on or before November 19, 2022;

 

    3

     

    

 

(b) The
second installment payment of $2,000,000 plus any accrued interest shall be made on or before April 19, 2023;

 

(c) The
third installment payment of $3,000,000 plus any accrued interest shall be made on or before April 19, 2024; and

 

(d) The
fourth and final installment of $4,000,000 plus any accrued interest shall be made on or before October 19, 2024.

 

The Promissory Note shall accrue
interest at a fixed rate of 5% per annum and allow for prepayment without any penalty. As security for the performance of the Promissory
Note, the Purchaser hereby grants to the Seller a continuing security interest in any and all right, title and interest in the Common
Shares, and further irrevocably pledges to the Seller the Common Shares pursuant to the terms of the Pledge and Security Agreement to
be entered into at the Closing. The Purchaser and the Seller hereby acknowledge and agree that the security interest created thereby in
the Common Shares constitute continuing collateral security for all of the obligations under the Promissory Note, whether now existing
or hereafter arising.

 

SECTION 2.04. Closing.
Subject to the terms and conditions of this Agreement, the sale and purchase of the Common Shares contemplated by this Agreement is taking
place remotely, by electronic exchange of documents, at a closing (the “Closing”) or, if or to the extent such an exchange
is not practicable at the offices of the Crone Law Group P.C. in New York, New York, simultaneously with the execution of this Agreement.

 

SECTION 2.05. Deliveries by the Seller. Simultaneously
with the execution of this Agreement, the Seller shall deliver or cause to be delivered to the Purchaser:

 

 (a) duly executed counterparts to the Pledge and Security Agreement;

 

(b) a
true and complete copy, certified by the Secretary or an Assistant Secretary of the Seller, of the resolutions duly and validly adopted
by the Board of Directors of the Seller, a majority of the shareholders of the Seller, and the sole shareholder of Hongri, evidencing
their authorization of the execution and delivery of this Agreement and the consummation of the transaction contemplated hereby; and

 

(c) a
certificate of the Secretary or an Assistant Secretary of the Seller certifying the names and signatures of the officers of the Seller
authorized to sign this Agreement.

 

    4

     

    

 

SECTION 2.06. Deliveries by the Purchaser.
Simultaneously with the execution of this Agreement, the Purchaser shall deliver to the Seller:

 

 (a) the duly executed Promissory Note;

 

 (b) duly executed counterparts to the Pledge and Security Agreement;

 

(c) a
true and complete copy, certified by the Secretary or an Assistant Secretary of the Purchaser, of the resolutions duly and validly adopted
by the Board of Directors of the Purchaser, and, if required by applicable law, a resolution by the Purchaser’s shareholders, evidencing
its authorization of the execution and delivery of this Agreement and the consummation of the transaction contemplated hereby; and

 

(d) a
certificate of the Secretary or an Assistant Secretary of the Purchaser certifying the names and signatures of the officers of the Purchaser
authorized to sign this Agreement.

 

ARTICLE III

 

REPRESENTATIONS AND WARRANTIES

OF THE SELLER

 

As an inducement to the Purchaser to enter into this
Agreement, the Seller hereby represents and warrants to the Purchaser as follows:

 

SECTION 3.01. Organization, Authority and Qualification
of the Seller. The Seller is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction
of its incorporation and has all necessary power and authority to enter into this Agreement and to carry out its obligations hereunder
and to consummate the transaction contemplated hereby. The execution and delivery of this Agreement by the Seller, the performance by
the Seller of its obligations hereunder and the consummation by the Seller of the transaction contemplated hereby have been duly authorized
by all requisite corporate action on the part of the Seller and its stockholders. This Agreement has been duly executed and delivered
by the Seller, and assuming due authorization, execution and delivery by the Purchaser this Agreement constitutes legal, valid and binding
obligations of the Seller, enforceable against the Seller in accordance with its terms.

 

SECTION 3.02. Capitalization. None of
the issued and outstanding Common Shares was issued in violation of any preemptive rights. There are no options, warrants,
convertible securities or other rights, agreements, arrangements or commitments of any character relating to the Common Shares or
obligating either the Seller or Hongri to issue or sell any Common Shares, or any other interest in, Hongri. The Common Shares
constitute all of the issued and outstanding capital stock of Hongri and are owned of record and beneficially by the Seller free and
clear of all Encumbrances. Upon consummation of the transaction contemplated by this Agreement and registration of the Common Shares
in the name of the Purchaser in the stock records of Hongri, the Purchaser, assuming it shall have purchased the Common Shares for
value in good faith and without notice of any adverse claim, will own all the issued and outstanding capital stock of Hongri free
and clear of all Encumbrances. Upon consummation of the transaction contemplated by this Agreement,
the Common Shares will be fully paid and nonassessable. There are no voting trusts, stockholder agreements, proxies or other agreements
or understandings in effect with respect to the voting or transfer of any of the Common Shares.

 

    5

     

    

 

SECTION 3.03. No
Conflict. Assuming compliance with and obtaining of all filings, notifications, consents, approvals, authorizations and other
required actions except as may result from any facts or circumstances relating solely to the Purchaser, the execution, delivery and
performance by the Seller of this Agreement will not (a) violate, conflict with or result in the breach of any provision of the
certificate of incorporation or by-laws (or similar organizational documents) of the Seller or Hongri (b) conflict with or violate
any material Law or Governmental Order applicable to the Seller or Hongri or any of their respective assets, properties or
businesses, conflict with, result in any breach of, constitute a default (or event which with the giving of notice or lapse of time,
or both, would become a default) under, require any consent under, or give to others any rights of termination, amendment,
acceleration, suspension, revocation or cancellation of, or result in the creation of any Encumbrance on any of the Common Shares or
any of the assets of the Seller or Hongri pursuant to, any note, bond, mortgage or indenture, contract, agreement, lease, sublease,
license, permit, franchise or other instrument or arrangement to which Hongri is a party or by which any of the Common Shares or any
of such assets or properties is bound or affected, except to the extent that such conflicts, breaches, defaults or other matters
would not (i) adversely affect the ability of the Seller to carry out its obligations under, and to consummate the transaction
contemplated by, this Agreement or (ii) adversely affect the ability of Hongri to conduct its business.

 

ARTICLE IV

 

REPRESENTATIONS AND WARRANTIES

OF THE PURCHASER

 

As an inducement to the Seller
to enter into this Agreement, the Purchaser hereby represents and warrants to the Seller as follows:

 

SECTION 4.01. Organization,
Authority and Qualification of the Purchaser. The Purchaser is a corporation duly organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation and has all necessary power and authority to enter into this Agreement and to
carry out its obligations hereunder and to consummate the transaction contemplated hereby. The execution and delivery of this Agreement
by the Purchaser, the performance by the Purchaser of its obligations hereunder and the consummation by the Purchaser of the transaction
contemplated hereby have been duly authorized by all requisite corporate action on the part of the Purchaser and its stockholders. This
Agreement has been duly executed and delivered by the Purchaser, and assuming due authorization, execution and delivery by the Seller
this Agreement constitutes legal, valid and binding obligations of the Purchaser, enforceable against the Purchaser in accordance with
its terms.

 

SECTION 4.02. No Conflict. Assuming compliance
with and obtaining of all filings, notifications, consents, approvals, authorizations and other required actions except as may result
from any facts or circumstances relating solely to the Seller, the execution, delivery and performance by the Purchaser of this Agreement
will not (a) violate, conflict with or result in the breach of any provision of the articles of
incorporation of the Purchaser, (b) conflict with or violate any Law or Governmental Order applicable to the Purchaser, or (c) conflict
with, or result in any breach of, constitute a default (or event which with the giving of notice or lapse of time, or both, would become
a default) under, require any consent under, or give to others any rights of termination, amendment, acceleration, suspension, revocation
or cancellation of, any note, bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other instrument
or arrangement to which the Purchaser is a party, which would adversely affect the ability of the Purchaser to carry out its obligations
under, and to consummate the transaction contemplated by this Agreement.

 

    6

     

    

 

SECTION 4.03. Governmental Approval. The execution,
delivery and performance by the Purchaser of this Agreement does not require any consent, approval, authorization or other order of, action
by, filing with, or notification to any Governmental Authority.

 

SECTION 4.04. Investment Purpose. The Purchaser
is acquiring the Common Shares solely for the purpose of investment and not with a view to or for offer or sale in connection with any
distribution there of other than in compliance with all applicable laws, including United States federal securities laws.

 

SECTION 4.05. Sufficiency
of Funds; Financial Solvency. The Purchaser is not entering into the arrangements contemplated by this Agreement, the Promissory Note,
or the Pledge and Security Agreement with intent to hinder, delay or defraud its present or future creditors. The Purchaser has not filed
and does not intend to file any bankruptcy petition or application for receivership.

 

SECTION 4.06. Brokers . No broker, finder
or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the transactions contemplated
by this Agreement based upon arrangements made by or on behalf of the Purchaser.

 

ARTICLE V

 

ADDITIONAL AGREEMENTS

 

SECTION 5.01. Confidentiality and Non-Solicitation.
The Purchaser shall use their reasonable best efforts and cause its respective Affiliates, officers, directors, employees, consultants,
advisors and agents to use their respective reasonable best efforts to treat as confidential and hold in strict confidence, unless compelled
to disclose by judicial or administrative process or, in the opinion of its counsel, by other requirements of Law, and after prior written
notice to the Seller, all confidential information of the Seller, as the case may be, that is made available in connection with this Agreement,
and will not release or disclose such confidential information to any other Person, except to their respective auditors, attorneys, financial
advisors and other consultants, agents, and advisors in connection with this Agreement. From and after the Closing and until the third
anniversary of the Closing, neither the Purchaser or any of its Affiliates shall directly or indirectly solicit, hire, or recruit for
their own benefit or the benefit of any other Person, or attempt to solicit, hire, or recruit, any employee of the Seller, or induce any employee of the Seller to terminate
their employment. This non-solicitation provision explicitly covers all forms of oral, written, or electronic communication, and social
media, and any other social media platform, whether or not in existence as of the date hereof.

 

    7

     

    

 

(b) From
and after the Closing and until the third anniversary of the Closing, the Seller shall, and shall cause their respective Affiliates to,
hold, and shall use its reasonable best efforts to cause its or their representatives to, hold in confidence any and all non-public or
otherwise confidential information, whether written or oral, concerning the business of Hongri. In the event that the Seller, or any such
agent, representative, Affiliate, employee, officer or director becomes legally compelled to disclose any such confidential information,
the Seller shall provide notice to the Purchaser in writing regarding the disclosure of such information and use its commercially reasonable
efforts to obtain any appropriate protective order or other reasonable assurance that confidential treatment will be accorded such information.
In the event that such protective order or other remedy is not obtained, or the Purchaser waives compliance with this Section 5.01,
the Seller shall furnish only that portion of such confidential information which is legally required to be provided and exercise its
reasonable best efforts to obtain assurances that confidential treatment will be accorded such information.

 

SECTION 5.02. Tax and Financial Statement Cooperation
and Exchange Information. Following the Closing, the Seller and the Purchaser shall provide each other with such cooperation and information
as either of them reasonably may request of the other in filing any Tax Return, amended Tax Return or claim for refund, determining a
liability for Taxes or a right to a refund of Taxes or participating in or conducting any audit or other proceeding in respect of Taxes
relating to the sale and transfer of the Common Shares or Hongri. Such cooperation and information shall include providing copies of relevant
Tax Returns or portions thereof, together with related work papers and documents relating to rulings or other determinations by taxing
authorities. The Seller and the Purchaser shall make themselves (and their respective employees) reasonably available on a mutually convenient
basis to provide explanations of any documents or information provided under this Section 5.02. Each of the Seller and the Purchaser
shall retain all Tax Returns, work papers and all material records or other documents in its possession (or in the possession of its Affiliates)
relating to Tax matters relevant to the Common Shares or Hongri for any taxable period that includes the Closing Date and for all prior
taxable periods until the later of (i) the expiration of the statute of limitations of the taxable periods to which such Tax Returns and
other documents relate; or (ii) six (6) years following the due date (without extension) for such Tax Returns. After such time, before
the Seller or the Purchaser shall dispose of any such documents in its possession (or in the possession of its Affiliates), the other
party shall be given an opportunity, after ninety (90) days’ prior written notice, to remove and retain all or any part of such
documents as such other party may select (at such other party’s expense). Any information obtained under this Section 5.02
shall be kept confidential, except as may be otherwise necessary in connection with the filing of Tax Returns or claims for refund or
in conducting an audit or other proceeding.

 

(b) Following
the Closing, the Purchaser shall cooperate with the Seller in connection with the Seller’s preparation of financial statements,
and, if necessary, any audits of the financial performance of Hongri and any of its subsidiaries, for all periods required in connection
with the Seller’s reporting obligations under the United States securities laws. Such cooperation shall include, providing full
access to the books and records of Hongri and any of its subsidiaries, any work papers generated in connection
therewith, Hongri’s personnel, outside auditors, and assisting the Seller in obtaining any required consent of such outside auditors
in connection with the Seller’s reporting obligations under the United Stated securities laws.

 

    8

     

    

 

SECTION 5.03. Procedures for Assets Not Transferred.

 

(a) Notwithstanding
anything to the contrary contained in this Agreement, if after the Closing Date, any assets, including intellectual property, tangible
property, or contracts, that are material to the conduct of business of Hongri are not transferable to the Purchaser without the consent
or approval of any Governmental Authority or a third party, and such consent or approval has not been obtained or such other requirement
has not been satisfied on or prior to the Closing Date, then this Agreement shall not constitute an assignment, transfer or assumption
thereof (or obligation to assign, transfer or assume), unless and until such consent or approval has been obtained or such other requirement
has been satisfied.

 

(b) Until
such time as (i) a consent, approval or other requirement referred to in Section 5.03(a) is obtained or satisfied, as applicable;
or (ii) it has become reasonably apparent that such consent, approval or other requirement is not likely to be obtained or satisfied,
as applicable, each party hereto shall, and shall cause its Affiliates to, (A) use commercially reasonable efforts and cooperate with
the other party hereto to obtain such consent or approval or to satisfy such other requirement as soon as practicable after the Closing;
(B) cooperate in any reasonable and lawful arrangement designed to provide such benefits of such assets to the Purchaser; and (C) use
commercially reasonable efforts to cooperate in any reasonable and lawful arrangement designed to procure that the burden of any related
liabilities shall be borne by the Purchaser. This Section 5.03(b) shall not apply with respect to contracts, which are the subject
of Section 5.03(c).

 

(c) Notwithstanding
anything to the contrary in this Agreement, if the benefit of a contract material to the conduct of Hongri’s business cannot be
transferred to the Purchaser except by an assignment or novation made with the consent or approval of a Governmental Authority or a third
party this Agreement does not constitute an assignment or an attempted assignment of (or obligation to assign) such contract if the assignment
or attempted assignment without first obtaining such consent or approval would constitute a breach of such contract. From and after the
Closing, each party hereto, shall use commercially reasonable efforts to obtain such consent or approval to the assignment or novation.
In the case of requests by third parties that the Purchaser or one of its Affiliates give a guarantee in connection with any such assignment
or novation to an Affiliate of the Purchaser, the Purchaser or one of its Affiliates will give such guarantee. Until any such consent
or approval is obtained or until agreement to any such assignment or novation is reached, each party hereto shall, and shall cause its
Affiliates to, use commercially reasonable efforts to cooperate in any reasonable and lawful arrangement designed to provide to the Purchaser,
from or after the Closing, the benefit and the burden of such contract. Upon any consent or approval being obtained or agreement to any
assignment or novation being achieved, the parties hereto shall, or shall procure that their respective Affiliates shall, assign or enter
into an assignment or novation agreement covered by such consent or approval in respect of such contract. Each of the parties hereto shall
not, and shall cause each of its Affiliates not to, refuse to enter into such assignment or novation agreement or other arrangement for any reason, including that the Purchaser is able to
obtain terms more favorable than those set forth in such contract.

 

    9

     

    

 

(d) If
after the Closing Date, any assets, including intellectual property, tangible property, or contracts, that are material to the conduct
of business of Hongri have not been transferred to the Purchaser because they are held in the name of the Seller, but do not require the
consent of any Governmental Authority or a third party, the Seller shall cooperate in any reasonable and lawful arrangement with the Purchaser
to transfer such material asset.

 

SECTION 5.04. Sufficiency of Funds. The Purchaser
has sufficient assets (or the ability to call sufficient capital from its equity holders) and the financial capability to, or, from and
after the Closing Date, will have the financial resources and capabilities to, fully perform its obligations under this Agreement, including
the ability to fully pay the Purchase Price, and will have available sufficient cash and cash equivalents and other sources of immediately
available funds to make the Purchase Price installment payments when due as required under Section 2.03.

 

SECTION 5.05. Evidence of Share Transfer.
As soon as practicable after the date hereof, the Seller shall deliver copies of the instrument of transfer or other required documentation
evidencing the transfer of the Common Shares, subject to the Seller’s security interest in the Common Shares, in book entry form
to the Purchaser.

 

ARTICLE VI

 

INDEMNIFICATION

 

SECTION 6.01. Survival of Representations, Warranties
and Covenants. The representations and warranties of the Purchaser contained in this Agreement or in any certificates delivered pursuant
to this Agreement shall survive the Closing until the purchase price is paid in full pursuant to the Promissory Note or for a period of
twelve (12) months after the Closing, whichever period is longer, provided, however, that any claim made with reasonable
specificity by the Seller when seeking to be indemnified within the time period set forth in this Section 6.01 shall survive until
such claim is finally resolved. The representations and warranties of the Seller contained in this Agreement or in any certificates delivered
pursuant to this Agreement shall terminate as of the Closing. None of the covenants or agreements contained in this Agreement shall survive
the Closing other than those which by their terms contemplate performance after the Closing and such surviving covenants and agreements
shall survive the Closing only until the expiration of the term of the undertaking set forth in such covenants and agreements.

 

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SECTION 6.02. Indemnification by the Purchaser.
The Seller, its officers, directors, employees and agents (each a “Seller Indemnified Party”) shall from and after
the Closing be indemnified and held harmless by the Purchaser for and against any and all losses, damages, claims, costs and expenses,
interest, awards, judgments and penalties (including reasonable attorneys’ and consultants’ fees and expenses) actually suffered
or incurred by them (hereinafter a “Loss”), arising out of or resulting from (a) the breach of any representation or
warranty made by the Purchaser contained in this Agreement, (b) the breach of any covenant or agreement by the Purchaser contained in
this Agreement, or (c) the assets, the operations, or the financial condition of the business of, or any direct or indirect liabilities
of or relating to, Hongri or any of its subsidiaries, whether arising before or after the Closing.

 

SECTION 6.03. Limitations on Indemnification.
(a) No claim may be asserted nor may any Action be commenced against the Purchaser for breach of any representation, warranty, covenant
or agreement contained herein, unless written notice of such claim or Action is received by the Purchaser describing in reasonable detail
the facts and circumstances with respect to the subject matter of such claim or Action on or prior to the date on which the representation,
warranty, covenant or agreement on which such claim or Action is based ceases to survive as set forth in Section 6.01.

 

(b) Notwithstanding
anything to the contrary contained in this Agreement, after the Closing, none of the parties hereto and none of their respective Affiliates
shall have any liability under any provision of this Agreement for any punitive, incidental, consequential, special or indirect damages,
including loss of future profits, revenue or income, diminution in value or loss of business reputation or opportunity relating to the
breach or alleged breach of this Agreement, regardless of whether such damages were foreseeable.

 

(c) For
all purposes of this Article VI, “Losses” shall be net of any recovery or benefit (including insurance) payable to
the Seller Indemnified Party or any of its Affiliates in connection with the facts giving rise to the right of indemnification and, if
the Seller Indemnified Party or any of its Affiliates receives such recovery or benefit after receipt of payment from the Purchaser, then
the amount of such recovery or benefit, net of reasonable expenses incurred in obtaining such recovery or benefit, shall be paid to the
Purchaser. No Seller Indemnified Party shall be entitled to any payment, adjustment or indemnification more than once with respect to
the same matter.

 

SECTION 6.04. Notice of Loss; Third-Party Claims.
(a) A Seller Indemnified Party shall give the Purchaser notice in reasonable detail of any matter which a Seller Indemnified Party has
determined has given or could give rise to a right of indemnification under this Agreement, within thirty (30) days of such determination,
stating the amount of the Loss, if known, and method of computation thereof, and containing a reference to the provisions of this Agreement
in respect of which such right of indemnification is claimed or arises.

 

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(b) If a Seller
Indemnified Party shall receive notice of any Action, audit, claim, demand or assessment against it (each, a “Third-Party
Claim”), which may give rise to a claim for Loss under this Article VI, within thirty (30) days of the receipt of
such notice (or within such shorter period as may be required to permit the Purchaser to respond to any such claim), the Seller
Indemnified Party shall give the Purchaser notice of such Third-Party Claim together with copies of all notices and documents served
on or received by the Seller Indemnified Party in respect thereof. The Purchaser shall be entitled to assume and control the defense
of such Third -Party Claim at its expense and through counsel of its choice, if it gives notice of its intention to do so to the
Seller Indemnified Party within thirty (30) days of the receipt of such notice from the Seller Indemnified Party, it being
understood that such election shall be without prejudice to the rights of the Purchaser to dispute whether such claim involves
recoverable or indemnifiable Losses under this Article VI. If the Purchaser elects to undertake any such defense against a
Third-Party Claim, the Seller Indemnified Party may participate in such defense at its own expense. The Seller Indemnified Party
shall cooperate with the Purchaser in such defense and make available to the Purchaser, at the Seller Indemnified Party’s
expense, all witnesses, pertinent records, materials and information in the Seller Indemnified Party’s possession or under the
Seller Indemnified Party’s control relating thereto (or in the possession or control of any of its representatives) as is
reasonably requested by the Purchaser or its counsel. If the Purchaser elects to direct the defense of any such Third-Party Claim,
the Seller Indemnified Party shall not pay, or permit to be paid, any part of such Third-Party Claim unless (i) the Purchaser
consents in writing to such payment; (ii) the Purchaser withdraws from the defense of such Third-Party Claim; or (iii) a final
judgment from which no appeal may be taken by or on behalf of the Purchaser is entered against the Seller Indemnified Party for such
Third-Party Claim. If the Seller Indemnified Party assumes the defense of any such Third-Party Claim pursuant to this Section
6.04 and proposes to settle such Third-Party Claim prior to a final judgment thereon or to forgo any appeal with respect
thereto, then the Seller Indemnified Party shall give the Purchaser prompt written notice thereof and the Purchaser shall have the
right to participate in the settlement or assume or reassume the defense of such Third-Party Claim. The Seller Indemnified Party
shall not admit any liability with respect to, or settle, compromise or discharge any Third-Party Claim without the
Purchaser’s prior written consent. The Purchaser shall have the right to settle any Third-Party Claim for which it obtains a
full release of the Seller Indemnified Party in respect of such Third-Party Claim or to which settlement the Seller Indemnified
Party consents in writing, such consent not to be unreasonably withheld or delayed.

 

SECTION 6.05. Remedies . Each of the parties
hereto acknowledges and agrees that following the Closing, other than as provided in Section 7.07 and except with respect to claims
for fraud, the indemnification provisions of this Article VI shall be the sole and exclusive remedies of the parties hereto for
any breach of the representations and warranties contained in this Agreement and for any failure to perform and comply with any covenant
or agreement in this Agreement.

 

ARTICLE VII

 

GENERAL PROVISIONS

 

SECTION 7.01. Further Action. Each of the
parties hereto shall use all reasonable efforts to take, or cause to be taken, all appropriate action, do or cause to be done all things
necessary, proper or advisable under applicable Law, and to execute and deliver such documents and other papers, as may be required to
carry out the provisions of this Agreement and consummate and make effective the transaction contemplated hereby.

 

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SECTION 7.02. Expenses. Except as otherwise
specified in this Agreement, all costs and expenses, including fees and disbursements of counsel, financial advisors and accountants,
incurred in connection with this Agreement and the transaction contemplated by this Agreement shall be paid by the party incurring such
costs and expenses.

 

SECTION 7.03. Notices. All notices, requests,
claims, demands and other communications hereunder shall be in writing and shall be given or made (and shall be deemed to have been duly
given or made upon receipt) by delivery in person, by an internationally recognized overnight courier service, by facsimile or registered
or certified mail (postage prepaid, return receipt requested) to the respective parties hereto at the following addresses (or at such
other address for a party as shall be specified in a notice given in accordance with this Section 7.03):

 

		(a)	if to the Seller:

 

JX
Luxventures Limited

                                          

                                                                           

                      

                                                                  

                                                 

 

Attention:
Sun Lei, Chief Executive Officer

E-mail:
                                              

 

with a copy to:

 

The Crone Law Group, P.C.

420 Lexington Avenue, Suite 2446,

New York, NY 10170

 

Attention: Tammara Fort, Esq.

E-mail: tfort@cronelawgroup.com

 

		(b)	if to the Purchaser:

 

Shenzhen Zhongjiyingfeng Investment Co., Ltd.

                                                                                                    

                                                    

                                                                

 

Attention: Fang Kai

E-mail:                              

 

SECTION 7.04. Entire Agreement. This
Agreement, the Promissory Note, and the Pledge and Security Agreement constitutes the entire agreement of the parties hereto and
thereto with respect to the subject matter hereof and thereof and supersedes all prior agreements and undertakings, including the
Memorandum of Understanding, dated October 10, 2022, between the Seller and the Purchaser, both written and oral, between the Seller
and the Purchaser with respect to the subject matter hereof and thereof.

 

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SECTION 7.05. Severability.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any Law or public policy, all other
terms and provisions of this Agreement shall nevertheless remain in full force and effect for so long as the economic or legal substance
of the transactions contemplated hereby is not affected in any manner materially adverse to either party hereto. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith
to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that
the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

 

SECTION 7.06. Governing Law. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts executed in and to be
performed in that State without giving effect to any choice or conflict of law provision or rule. Each of the parties hereto hereby (a)
submits to the exclusive jurisdiction of any federal or state court sitting in the State of New York for the purpose of any Action, directly
or indirectly, arising out of, relating to, or in connection with this Agreement brought by any party hereto; (b) agrees that service
of process will be validly effected by sending notice in accordance with Section 7.03; (c) irrevocably waives and releases, and
agrees not to assert by way of motion, defense, or otherwise, in or with respect to any such Action, any claim, whether actual or potential,
known or unknown, suspected or unsuspected, based upon past or future events, now existing or coming into existence in the future, that
(i) such Action is not subject to the subject matter jurisdiction of at least one of the above-named courts; (ii) its property is exempt
or immune from attachment or execution in the State of New York; (iii) such Action is brought in an inconvenient forum; (D) that the venue
of such Action is improper; or (iv) this Agreement or the transactions contemplated by this Agreement may not be enforced in or by any
of the above-named courts; and (d) agrees not to move to transfer any such Action to a court other than any of the above-named courts.
THE PARTIES HERETO IRREVOCABLY WAIVE ANY AND ALL RIGHT THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR CLAIM
OF ANY NATURE DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS THIS AGREEMENT OR UNDER ANY OTHER DOCUMENT EXECUTED IN CONNECTION
WITH THIS AGREEMENT, OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. THE PARTIES HERETO ACKNOWLEDGE THAT (I) NO REPRESENTATIVE, AGENT
OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK
TO ENFORCE THE FOREGOING WAIVER, (II) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, AND (III) EACH SUCH
PARTY MAKES THIS WAIVER VOLUNTARILY.

 

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SECTION 7.07. Specific Performance. The
parties hereto acknowledge and agree that the parties hereto would be irreparably damaged if any of the provisions of this Agreement
are not performed in accordance with their specific terms or are otherwise breached and that any non-performance or breach of this
Agreement by a party hereto could not be adequately compensated by monetary damages alone and that the parties hereto would not have
any adequate remedy at law. Accordingly, in addition to any other right or remedy to which any party hereto may be entitled, at law
or in equity (including monetary damages), such party shall be entitled to enforce any provision of this Agreement by a decree of
specific performance and to temporary, preliminary and permanent injunctive relief to prevent breaches or threatened breaches of any
of the provisions of this Agreement without posting any bond or other undertaking. The parties hereto further agree that the Seller
shall be entitled to enforce any provision of this Agreement by a decree of specific performance and to temporary, preliminary and
permanent injunctive relief to prevent breaches or threatened breaches of any of the provisions of this Agreement, the Promissory
Note, or the Pledge and Security Agreement in order to cause the Purchaser to pay the Purchase Price in the amounts and at the times
due under the Promissory Note and to enforce specifically the payment of the Purchase Price on the terms and subject to the
conditions in this Agreement. The parties hereto agree that they will not contest the appropriateness of specific performance as a
remedy.

 

SECTION 7.08. Counterparts. This Agreement
may be executed and delivered (including by facsimile transmission) in one or more counterparts, and by the different parties hereto in
separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken together shall constitute
one and the same agreement.

 

SECTION 7.09. Assignment.
This Agreement may not be assigned by operation of law or otherwise without the express written consent of the Seller and the Purchaser
(which consent may be granted or withheld in the sole discretion of the Seller or the Purchaser); provided, however, that
the Purchaser may assign this Agreement or any of its rights and obligations hereunder to one or more Affiliates of the Purchaser without
the consent of the Seller.

 

SECTION 7.10. Amendment.
This Agreement may not be amended or modified except (a) by an instrument in writing signed by, or on behalf of, the Seller and the Purchaser
or (b) by a waiver in accordance with Section 7.11.

 

SECTION 7.11. Waiver.
Either party to this Agreement may (a) extend the time for the performance of any of the obligations or other acts of the other party,
(b) waive any inaccuracies in the representations and warranties of the other party contained herein or in any document delivered by the
other party pursuant hereto or (c) waive compliance with any of the agreements of the other party or conditions to such party’s
obligations contained herein. Any such extension or waiver shall be valid only if set forth in an instrument in writing signed by the
party to be bound thereby. Any waiver of any term or condition shall not be construed as a waiver of any subsequent breach or a subsequent
waiver of the same term or condition, or a waiver of any other term or condition of this Agreement. The failure of either party hereto
to assert any of its rights hereunder shall not constitute a waiver of any of such rights. All rights and remedies existing under this
Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

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SECTION 7.12. No Third Party
Beneficiaries. This Agreement shall be binding upon and inure solely to the benefit of the parties hereto and their respective successors
and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person, including any union
or any employee or former employee of the Seller, any legal or equitable right, benefit or remedy of any nature whatsoever, including
any rights of employment for any specified period, under or by reason of this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the Seller and the Purchaser
have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

 

	 	JX LUXVENTURE LIMITED
	 	 	 	 
	 	By:	/s/ Sun Lei
	 	 	Name:	Sun Lei
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	SHENZHEN ZHONGJIYINGFENG
	 	INVESTMENT CO., LTD.
	 	 	 	 
	 	By:	/s/ Fang Kai
	 	 	Name:	Fang Kai
	 	 	Title:	Legal Representative

 

[Signature Page to the Stock Purchase Agreement]

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