Document:

EX-4.36

  Exhibit 4.36

  Exclusive Option Agreement

   

  This Exclusive Option Agreement (“this Agreement”) is made and entered into by and among the following Parties as of November 4, 2021 in Beihai, the People’s Republic of China:

  		
	Party A:
	Beihai Green Lemon Technology Co., Ltd., a wholly foreign-owned enterprise duly registered in China, whose Unified Social Credit Code is 91450500MA5N95341R and having its registered office at Room A02, 4/ F, Building 1, No. 23, Jilin Road, Industrial Park, Beihai;

	Party B:
	YANG Tao, a Chinese citizen whose ID number is ******************;
HAN Chao, a Chinese citizen whose ID number is ******************; 

	Party C:
	Beihai Super Egg E-Commerce Co., Ltd., a limited liability company organized and existing under the laws of China, whose Unified Social Credit Code is 91450500MA5N7ECU5J, having its registered office at Room A05, 3/ F, Building 1, No. 23, Jilin Road, Industrial Park, Beihai.

  In this Agreement, Party A, Party B and Party C shall be hereinafter referred to as a “Party” individually, and the “Parties” collectively.

  WHEREAS:

  Party B is a shareholder of Party C and holds 100% of the Equity Interest in Party C as of the execution date hereof;

  Now Therefore, the Parties hereby agree as follows through mutual negotiations:

  1.	Sale and Purchase of Equity Interest and Asset 

  1.1	   Grant of Option

  1.1.1  Each of Party B hereby irrevocably grants Party A an irrevocable exclusive right (the “Equity Interest Purchase Option”) to purchase, or designate one or more persons (each, the “Equity Interest Designee”) to purchase in whole or in part the Equity Interest in Party C now or then held by Party B from any party of Party B at any time and from time to time at Party A’s sole and absolute discretion to the extent permitted by the laws of the People’s Republic of China (“China”) and at the price described in Section 1.3 herein. Except for Party A and the Equity Interest Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the Equity Interest held by Party B. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer to 

   

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  individuals, corporations, joint ventures, partnerships, enterprises, trusts or non-corporate organizations.

  1.1.2  Party C hereby irrevocably grants Party A an irrevocable exclusive right (the “Asset Purchase Option”) to purchase, or designate one or more persons (the “Asset Designee”, collectively the "Designee" with the Equity Interest Designee) to purchase in whole or in part the Asset in Party C from Party C at any time and from time to time at Party A’s sole and absolute discretion to the extent permitted by the law of China and at the price described in Section 1.3 herein. Except for Party A and the Asset Designee(s), no other person shall be entitled to the Asset Purchase Option or other rights with respect to Party B’s asset. Party B hereby agrees to the grant by Party C of the Asset Purchase Option to Party A in accordance under this Agreement.

  1.2	 Steps for Exercise of Equity Interest Purchase Option and Asset Purchase Option

  Subject to the terms and conditions of this Agreement, Party A shall have the absolute discretion to determine the specific time, manner and frequency of exercising its right to the extent permitted by the laws of China.

  Subject to the provisions of the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written notice to Party B (the “ Purchase Option Notice”), specifying: (i) Party A’s decision to exercise the Equity Interest Purchase Option; (ii) the portion of Equity Interest Party A proposes to be purchase from Party B (the “Optioned Equity Interest”); and (iii) the date for purchasing/transferring the Optioned Equity Interest.

  Subject to the provisions of the laws and regulations of China, Party A may exercise the Asset Purchase Option by issuing a written notice to Party C (the “Asset Purchase Option Notice”), specifying: (i) Party A’s decision to exercise the Asset  Purchase Option; (ii) the specific asset Party A proposes to be purchase from Party C (the “Optioned Asset”); and (iii) the date for delivering/transferring the Optioned Asset.

  When Party A exercises the Equity Interest Purchase Option or the Asset Purchase Option, Party A can be transferred the Optioned Equity Interest or the Optioned Asset by itself, or it appoint the Designee(s) to be transferred in whole or in part.

  1.3	    Equity Interest Purchase Price and Asset Purchase Price 

  1.3.1  As far as the Optioned Equity Interest is concerned, Unless an appraisal is required by the laws of China for the Equity Interest Purchase Option exercised by Party A, the purchase price of the Optioned Equity Interest (the “Equity Interest Purchase Price”) shall be RMB1.00; In the event that the minimum price permitted by the laws of China at that time is higher than the aforementioned price, the transfer price shall be the minimum price. If Party B receive a transfer price which is higher than RMB1.00 for the Optioned Equity 

   

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  Interest held by Party B, or receives any form of profit distribution, dividends, dividends or dividends from Party C, and Party B agrees that, subject to the laws of China, Party A shall be entitled to receive such income of more than RMB1.00. Party B shall instruct the relevant transferee(s) or Party C to pay the aforementioned income to the bank account designated by Party A at that time.

  1.3.2    With respect to the right to the Asset Purchase Option, for each exercise of the right, the purchase price of the Optioned Assets (the “Asset Purchase Price”) shall be the net book value of the Optioned Asset; However, In the event that the minimum price permitted by the laws of China at that time is higher than the aforementioned net book value, the transfer price shall be the minimum price permitted by the laws of China.

  1.4	Transfer of Optioned Equity Interest and Optioned Asset

  For each exercise of the Equity Interest Purchase Option or the Asset Purchase Option:

  1.4.1	Party B and Party C shall cause Party C to promptly convene a shareholders meeting and/or board meeting (whichever is applicable), at which a resolution shall be adopted approving Party B’s transfer of the Optioned Equity Interest to Party A and/or the Equity Interest Designee(s), or approving Party C’s transfer of the Optioned Asset to Party A and/or the Asset Designee(s);

  1.4.2	Party B or Party C (whichever is applicable) shall execute a share transfer contract or asset transfer contract with Party A and/or each Designee (whichever is applicable) with respect to each transfer (collectively “Transfer Contracts”), in accordance with the provisions of this Agreement and the corresponding purchase notice;

  1.4.3	The relevant Parties shall execute all other necessary contracts, agreements or documents, obtain all necessary government licenses and permits and take all necessary actions to transfer valid ownership of the Optioned Equity Interest or the Optioned Asset to Party A and/or the Designee(s) (whichever is applicable) , unencumbered by any security interests, and cause Party A and/or the Designee(s) to become the registered owner(s) of  the Optioned Equity Interest or the Optioned Asset (if any). For the purposes of this Section and this Agreement, “Security Interests” shall include securities, mortgages, pledges, liens, claims, third party’s rights or interests, any stock options, acquisition right, right of first refusal, right to offset, title retention or other security arrangements, but shall be deemed to exclude any security interest created by this Agreement and Party B’s Equity Pledge Agreement. “Party B’s Equity Pledge Agreement” as used in this Section and this Agreement shall refer to the Equity Pledge Agreement executed by and among Party A, Party B and Party C on the date of this Agreement , whereby Party B pledges all of its Equity Interest in Party C to Party A, in order to guarantee Party B’s obligations 

   

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  under this Agreement and Party C’s performance of its obligations under the Exclusive Business Cooperation Agreement executed by and between Party C and Party A and other agreements.

  2.	Covenants

  2.1	Covenants regarding Party C

  Party B (as a shareholder of Party C) and Party C hereby covenant as follows:

  2.1.1	Without prior written consent of Party A, they shall not in any manner supplement, change or amend the articles of association and bylaws of Party C, increase or decrease its registered capital, or otherwise change its structure of registered capital;

  2.1.2	They shall maintain Party C’s corporate existence in accordance with good financial and business standards and practices, and prudently and effectively operate its business and handle its affairs;

  2.1.3	Without prior written consent of Party A, they shall not at any time after the execution date hereof, sell, transfer, mortgage or otherwise dispose of any Equity Interest of Party C, any asset of Party C or legal or beneficial interest in the business or revenues of Party C, or allow creation of any encumbrance or security interest thereon;

  2.1.4	Without prior written consent of Party A, they shall not incur, inherit, guarantee or allow the existence of any debt, except for (i) debts incurred in the ordinary course of business other than through borrowing loans; and (ii) debts that have been disclosed to Party A and for which Party A’s written consent has been obtained;

  2.1.5	They shall ensure to operate all of Party C’s businesses during the ordinary course of business to maintain the asset value of Party C and refrain from any action/omission that may affect Party C’s operating status and asset value;

  2.1.6	Without prior written consent of Party A, they shall not cause Party C to execute any major contract, except for contracts executed in the ordinary course of business (for the purpose of this subsection, a contract with a value exceeding RMB 100,000 shall be deemed a major contract);

  2.1.7	Without prior written consent of Party A, they shall not cause Party C to provide any person with any loan, credit, guarantee or guarantee;

  2.1.8	They shall provide Party A with information on Party C’s business operations and financial condition at Party A’s request;

   

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  2.1.9	If requested by Party A, they shall procure and maintain insurance in respect of Party C’s asset and business from an insurance carrier acceptable to Party A, at an amount and type of coverage typical for companies that operate similar businesses;

  2.1.10	Without prior written consent of Party A, they shall not cause or permit Party C to merge, consolidate with, acquire or invest in any person, or be acquired or invested by any person;

  2.1.11	Without prior written consent of Party A, they shall not liquidate, dissolve or deregister Party C;

  2.1.12	They shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Party C’s asset, business or revenue;

  2.1.13	To maintain the ownership by Party C of all of its asset, they shall execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims;

  2.1.14	Without prior written consent of Party A, they shall ensure that Party C shall not in any manner distribute any distributable profits, dividends, or bonuses to its shareholder, provided that upon Party A’s written request, Party C shall immediately distribute all distributable profits dividends, and bonuses to its shareholders; 

  2.1.15	At the request of Party A, they shall appoint any persons designated by Party A as the director or supervisor of Party C, or other company management personnel appointed and removed by Party B;

  2.1.16   They shall promptly inform Party A of any situation that may have a material adverse effect on the survival, business operation, financial condition, assets or goodwill of Party C, and shall timely take all measures approved by Party A to eliminate such adverse situation or take effective remedial measures against it; and

  2.1.17   Party C shall , at the request of Party A at any time, immediately and unconditionally transfer the Optioned Asset to Party A and/or the designee(s) in accordance with the Asset Purchase Option under this Agreement.

  2.2	Covenants of Party B

  Party B hereby covenants as follows:

   

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  2.2.1	Without prior written consent of Party A, Party B shall not sell, transfer, mortgage or otherwise dispose any legal or beneficial interest in the Equity Interest in Party C held by Party B, or allow creation of any encumbrance or Security Interests thereon, except for the pledge created on these Equity Interest in accordance with Party B’s Equity Pledge Agreement;

  2.2.2	Party B shall cause the shareholder and/or the board of directors of Party C to disapprove the sale, transfer, mortgage, pledge or otherwise disposition of any legal or beneficial interest in the Equity Interest in Party C held by Party B, or allow the creation of encumbrance or any Security Interests thereon, without prior written consent of Party A, except for the pledge created on these Equity Interest in accordance with Party B’s Equity Pledge Agreement;

  2.2.3	Party B shall cause the shareholder or the board of directors of Party C to disapprove Party C’s merger or consolidation with any person, or the acquisition of or investment in any person, or the acquisition or investment by any person without prior written consent of Party A;

  2.2.4	Party B shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to the Equity Interest or the asset in Party C held by Party B;

  2.2.5	Party B shall cause the shareholder or the board of directors of Party C to vote their approval of the transfer of the Optioned Equity Interest or the Optioned Asset as set forth in this Agreement and to take any and all other actions that may be requested by Party A;

  2.2.6	To the extent necessary to maintain Party B’s ownership in Party C, Party B shall execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims;

  2.2.7	Party B shall, at the request of Party A, appoint any designee of Party A as the director of Party C;

  2.2.8	Party B shall, at the request of Party A at any time, promptly and unconditionally transfer its Equity Interest in Party C to Party A and/or the  Equity Interest designee(s) in accordance with the Equity Interest Purchase Option under this Agreement, and Party B hereby waives its right of first refusal (if any) to the share transfer by the other existing shareholder of Party C (if any); and

  2.2.9	Party B shall strictly abide by the provisions of this Agreement and other Agreements jointly or separately executed by and among Party B and/or Party C and Party A, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability 

   

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  hereof and thereof. To the extent that Party B has any residual rights with respect to the Equity Interest subject to this Agreement hereunder or under Party B’s Equity Pledge Agreement or under the Power of Attorney Agreement granted in favor of Party A, Party B shall not exercise such rights except in accordance with the written instructions of Party A.

  3.	Representations and Warranties

  Party B and Party C hereby represent and warrant to Party A, jointly and severally, as of the date of this Agreement and each date of transfer of the Optioned Equity Interest or the Optioned Asset, that:

  3.1	Party B shall have full and independent legal status and legal ability to enter into, deliver and perform this Agreement and can independently act as a party to the litigation subject. Moreover, it is authorized to execute and deliver this Agreement and any Transfer Contracts and to perform its obligations under this Agreement and any Transfer Contracts. Party B and Party C agree to sign a Transfer Contracts consistent with the terms of this Agreement upon Party A or the designee(s)’ exercise of the Equity Interest Purchase Option or the Asset Purchase Option. This Agreement and the Transfer Contracts to which it is a party constitute or will constitute its legal, valid and binding obligations and can be enforced in accordance with the provisions thereof;

  3.2	The execution and delivery of this Agreement or any Transfer Contracts and the obligations under this Agreement or any Transfer Contracts shall not: (i) cause any violation of any applicable Chinese laws; (ii) be inconsistent with the articles of association, bylaws or other organizational documents of Party C; (iii) cause the violation of any contracts or instruments to which they are a party or which are binding on them, or constitute any breach under any contracts or instruments to which they are a party or which are binding on them; (iv) cause any violation of any condition for the grant and/or continued effectiveness of any licenses or permits issued to either of them; or (v) cause 

   

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  the suspension or revocation of or imposition of additional conditions to any licenses or permits issued to either of them;

  3.3	Party C has a good and merchantable title to all of its asset, and Party B has not created any security interest on such asset;

  3.5    Party B has a good and merchantable title to the Equity Interest in Party C held by Party B. Except for the Party B’s Equity Pledge Agreement, Party B has not created any security interest on such Equity Interest;

  3.4	Party C has a good and merchantable title to all of its asset, and except otherwise disclosed in writing, has not created any security interest or purchase option on the aforementioned asset;

  3.5	Party C does not have any outstanding debts, except for (i) debt incurred in the ordinary course of business; and (ii) debts that have been disclosed to Party A and for which Party A’s written consent has been obtained;

  3.6	There are no pending or threatened litigation, arbitration or administrative proceedings involving the Equity Interest in Party C, asset of Party C or Party C; and

  3.7	Except for the registration of equity pledge with Administration for Industry and Commerce in accordance with the provisions of Party B’s Equity Pledge Agreement, the execution and performance of this Agreement and the grant or exercise of the Equity Interest Purchase Option or the Asset Purchase Option under this Agreement do not require the consent, license, waiver, authorization of any third party, or the approval, permission, exemption from any governmental authority, or the registration or filing procedures with any governmental authority. 

  4.	Effective Date

  This Agreement shall become effective upon the execution date hereof and shall be valid for 10 years, and may choose to renew this Agreement. In the event that Party A chooses to extend the term, the validity period of the extension shall be determined by Party A, and Party B and Party C shall unconditionally accept such renewal and the validity period of the extension.

  5.	Governing Law and Dispute Resolution

  5.1	Governing Law

  The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the Dispute Resolution hereunder shall be governed by the laws of China.

   

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  5.2	Dispute Resolution

  In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement within 30 days after either Party requests to the other Parties for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its then effective arbitration rules. The arbitration shall be conducted in Beijing, and the language shall be Chinese. The arbitration award shall be final and binding on all Parties.

  6.	Taxes and Fees

  Each Party shall pay any and all transfer and registration tax, expenses and fees incurred by or levied on itself in accordance with the laws of China in connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the consummation of the transactions contemplated under this Agreement and the Transfer Contracts.

  Whether or not there is a rule to the contrary, if the tax authority considers that the Equity Interest Purchase Price or the Asset Purchase Price is not a reasonable transfer price and the tax base is adjusted, the additional tax shall be borne by Party B (in the case where Party A exercises the Equity Interest Purchase Option) or Party C (in the case where Party A exercises the Asset Purchase Option).

  7.	Notices

  7.1	All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail with postage prepaid, commercial courier service or facsimile transmission to the contact address of such Party. Each notice shall be followed by a confirmation copy sent by email. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

  7.1.1	Notices given by personal delivery, courier service, registered mail with postage prepaid shall be deemed effectively given on the date of receipt or rejection at the address specified for notices.

  7.1.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

   

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  7.2	Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms hereof.

  8.	Confidentiality

  The Parties acknowledge that any oral or written information exchanged between the Parties in connection with the preparation and performance this Agreement constitute confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (i) is or becomes available to the general public (other than through the receiving Party’s unauthorized disclosure); (ii) is required to be disclosed by applicable laws or regulations or rules or regulations of any stock exchange; or (iii) is necessary to be disclosed by any Party to its legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the employees of or agencies engaged by any Party shall be deemed disclosure by such Party itself and such Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement for any reason.

  9.	Further Warranties

  The Parties agree to promptly execute documents that are reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement. 

  10.	Miscellaneous

  10.1	Amendment, change and supplement

  Any amendment, change and supplement to this Agreement shall be made only by a written contract executed by all of the Parties.

  10.2	Entire Agreement

  Except for the amendments, supplements or changes made in writing after the execution hereof, this Agreement shall constitute the entire agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supersede all prior oral and written consultations, representations and contracts reached with respect to the subject matter of this Agreement.

   

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  10.3	Headings

  The headings of this Agreement are inserted for convenience only, and shall not be used to interpret, explain or otherwise affect the meanings of the provisions of this Agreement.

  10.4	Language

  This Agreement is written in Chinese in four counterparts of equal legal force.

  10.5	Severability

  In the event that one or several provisions hereof are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. The Parties shall negotiate in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

  10.6	Assignment

  Without Party A’s prior written consent, the other parties shall not assign its rights and obligations hereunder to any third party. Party B and Party C agree that Party A may assign its obligations and rights hereunder to any third party and in the case of such assignment, Party A is only required to give written notice to Party B and Party C e other parties and does not need to seek any consent from Party B and Party C.

  10.7   Successors

  This Agreement shall be binding on and shall inure to the interest of the respective successors of the Parties and the permitted assignees of such Parties.

  10.8	Survival

  10.8.1	Any obligations arising out of or due hereunder before the expiration or early termination of this Agreement shall survive the expiration or early termination thereof.

  10.8.2	Sections 5, 7, 8 and this Section 10 shall survive the expiration or termination of this Agreement.

  10.9	Waivers

  Any Party may waive the terms and conditions of this Agreement, provided that such a waiver must be made in writing and shall require the signatures of all the Parties. No waiver by any Party in certain circumstances with respect to a breach by other Parties 

   

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  shall operate as a waiver by such Party with respect to any similar breach in other circumstances.

   [Signature page follows]

   

   

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  (Signature Page to Exclusive Option Agreement)

  Party A: 

  Beihai Green Lemon Technology Co., Ltd. (Seal)

   

  

  Legal Representative: /s/YANG Tao

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

  (Signature Page to Exclusive Option Agreement)

   

  

  Party B:

  YANG Tao

  Signature: /s/YANG Tao 

   

   

   

  HAN Chao

  Signature: /s/HAN Chao 

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

  

  (Signature Page to Exclusive Option Agreement)

  Party C: 

  Beihai Super Egg E-Commerce Co., Ltd. (Seal)

  Legal Representative: /s/YANG TaoEX-4.37

  Exhibit 4.37

   

  Equity Pledge Agreement

   

  This Equity Pledge Agreement (this “Agreement”) is made and entered into by and among the following parties on November 4, 2021 in Beihai, the People’s Republic of China (“China” or the “PRC”):

  		
	Party A:
	Beihai Green Lemon Technology Co., Ltd. (“Pledgee”)

	Unified Social Credit Code
Address:
	91450500MA5N95341R
Room A02, 4/ F, Building 1, No. 23, Jilin Road, Industrial Park, Beihai

	Party B:
	YANG Tao (“Party B1”), a Chinese citizen whose ID number is ******************;
HAN Chao  (“Party B2”), a Chinese citizen whose ID number is ******************;

	 
	(Party B1 and Party B2 are collectively hereinafter referred to the “Pledgers” or “Party B”)
 

	Party C:
	Beihai Super Egg E-Commerce Co., Ltd.

	Unified Social Credit Code:
Address:
	91450500MA5N7ECU5J 
Room A05, 3/F, Building 1, No. 23, Jilin Road, Industrial Park, Beihai

  In this Agreement, The Pledgee, the Pledgers and the Party C are hereinafter referred to as a “Party” individually, and the “Parties” collectively.

  Whereas:

  1.	The Pledgers hold 100% of equity interests of Party C in total. Party C is a limited liability company registered in Beihai, China, engaging in commercial consulting services, e-commerce information consulting services, network technology information consulting services, technology development, technology consultation, technology services, technology promotion and technology transfer of electronic products, network products and technological products; enterprise information consulting services; economic and trade information consulting services; enterprise management consulting services; financial consulting services; educational information consulting services; data processing services; computer system. Party C acknowledges the respective rights and obligations of the Pledgers and the Pledgee hereunder and agrees to provide any necessary assistance for the registration of the Pledge;

   

  

   

  2.	The Pledgee is a wholly foreign-owned enterprise registered in Beihai, China. The Pledgee and Party C entered into an Exclusive Business Cooperation Agreement (the “Exclusive Business Cooperation Agreement”) on June 26, 2018; the Pledgee entered into an Exclusive Option Agreement (the “Exclusive Option Agreement”) with the Pledgers and Party C on November 4, 2021; each Pledger and Pledgee respectively signed a Power of Attorney Agreement (the “Power of Attorney Agreements”) on November 4, 2021; the Pledgers and Pledgee signed a Loan Agreement (the “Loan Agreement ”, collectively the “Project Agreements” with the Power of Attorney Agreements, the Exclusive Business Cooperation Agreement and the Exclusive Option Agreement) on November 4, 2021; 

  3.	The Purpose of the Pledge is to ensure that (i) the pledgee can collect all payments due and payable by Party C from Party C in accordance with the Exclusive Business Cooperation Agreement, including but not limited to consulting and service fees; (ii) the Pledgee can effectively exercise its equity purchase right and/or asset purchase right under the Exclusive Option Agreement; (iii) the pledgee can exercise its voting rights under the Power of Attorney Agreements; and(iv) the Pledgee can collect all the loan principal and interests (if any) due to be returned from the Pledgers under the Loan Agreement, and the Pledgers agrees to pledge all the equity in Party C for the obligations of Party B and Party C under the Project Agreements. 

  Therefore, the Parties hereby agree as follows through mutual negotiations.

  1.	Definitions

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

  1.1	“Pledge”: shall refer to the security interest created by the Pledgers in favor of the Pledgee pursuant to Section 2 of this Agreement, i.e., the right of the Pledgee to be paid in priority from the proceeds from the transfer, auction or sale of the equity interest.

  1.2	“Equity Interest”: shall refer to 100% equity interests currently legally held by the Pledgers in Party C, i.e., the Pledger YANG Tao holds 50% equity in Party C, corresponding to the registered capital of RMB 25 million; the Pledger HAN Chao holds 50% equity in Party C, corresponding to registered capital of RMB 25 million; and the additional capital contributions and dividends as described in Section 2.3 and 2.4 of this Agreement.

  1.3	“Term of Pledge”: shall refer to the term set forth in Section 3 of this Agreement.

  1.4   “Project Agreements”: shall have the meaning in the preamble of this Agreement.

  1.5	“Contractual Obligations”: shall refer to all the obligations of the Pledgers and Party C under this Agreement and the Project Agreements.

  1.6	“Secured Indebtedness”: shall refer to the payment and a other obligations of the Pledgers and/or Party C under the Project Agreements, and any and all direct, indirect, derivative 

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  losses and losses of predictable benefits incurred due to any default by the Pledgers and/or Party C, the amount of which shall be determined based on the Pledgee's reasonable business plan and profit forecast; the service fees payable by Party C under the Exclusive Business Cooperation Agreement; all due and repayable loan principal and interests (if any) collected by the Pledgee from the Pledgers according to the Loan Agreements, and all costs and expenses incurred by the Pledgee in enforcing the Pledgers and/or Party C to perform their contractual obligations.

  1.7	“Event of Default”: shall refer to any of the circumstances as enumerated in Section 7 of this Agreement.

  1.8	“Notice of Default”: shall refer to the notice issued by the Pledgee in accordance with this Agreement declaring an Event of Default.

  2.	Pledge

  2.1	The Pledgers agree to pledge all the Equity Interest to the Pledgee as security for payment of the Secured Indebtedness under this Agreement, and Party C hereby assents to such pledge.

  2.2	The Pledgers undertakes that it shall be responsible for recording the equity pledge arrangement in the shareholders’ register of Party C under this Agreement.

  2.3	The Pledgers may subscribe for capital increase in Party C only with prior written consent of the Pledgee. Any Equity Interest obtained by the Pledgers as a result of the Pledgers’ subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. The Pledgers undertakes to record the equity pledge of the additional capital amount under this Section 2.3 in the shareholders’ register of Party C and apply for registration with the registration authority (as defined below) within ten (10) business days after the capital increase.

  2.4	During the Term of Pledge, the Pledgee is entitled to receive the income (including but not limited to any dividends and profits) on the Equity Interest. The Pledgers may receive dividends distributed on the Equity Interest only with prior written consent of the Pledgee. Dividends received by the Pledgers on Equity Interest shall be deposited into an account designated and supervised by the Pledgee and applied first to pay the Secured Indebtedness. 

  3.	Term of Pledge

  3.1	The Pledge shall become effective on such date when it is registered with competent administration for industry and commerce (the “AIC”) at the location of Party C. The Parties agree that the Pledgers and Party C shall submit an application to the AIC for the registration of the Pledge of the Equity Interest within 60 business days following the 

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  execution of this Agreement. The Parties further agree that they shall complete all equity pledge registration procedures, obtain a registration notice issued by the AIC, and the AIC will shall record the matters concerning the Pledge of the Equity Interest completely and accurately in the equity pledge register within 20 business days after the AIC formally accepts the application for pledging registration of the Equity Interest. 

  .

  3.2	The term of this Agreement shall expire until the Contractual Obligations are fully performed or the Secured Indebtedness are fully discharged. 

  4.	Custody of Equity Interest Records

  During the Term of Pledge, the Pledgers shall deliver to the Pledgee’s custody the shareholders’ register indicating the Pledge within one week following execution of this Agreement. The Pledgee shall have custody of such documents during the entire Term of Pledge.

  5.	Representations and Warranties of the Pledgers 

  5.1	The Pledgers are Chinese citizen/legal person with full capacity for conduct and has the legal right and ability to enter into this Agreement and undertake legal obligations under this Agreement. This Agreement, duly signed by the Pledgers, shall constitute a legal, valid and binding obligation to the Pledgers.

  5.2	The Pledgers are the sole legal and beneficial owner of the Equity Interest, and there is no dispute regarding the ownership of the Equity Interest. The Pledgers have the rights to dispose of the Equity Interest and any part thereof.

   

  5.3	Except for the Pledge, the Pledgers have not created any security interest or other encumbrance on the Equity Interest.

  5.4	The execution and performance of this Agreement and the Pledge of Equity Interest under this Agreement must be under the condition of obtaining any third party's consent, permission, waiver, authorization or the approval, permission, exemption from any government agency, or completing the registration or filing procedures (if required by the applicable laws) (except for the pledge registration at the AIC), which will shall remain in full force and effect during the term of this Agreement.

  5.5	The Pledgers hereby warrant the Pledgee that the above statement and warranties will be true and correct and will be fully complied with at any time and under any circumstances before the Contractual Obligations are fully fulfilled or the Secured Indebtedness is fully paid off.

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  6.	Covenants and Further Agreement of the Pledgers 

  6.1	During the term of this Agreement, the Pledgers covenant to the Pledgee that the Pledgers:

  6.1.1	shall not transfer the Equity Interest, create or permit the existence of any security interest or other encumbrance on the Equity Interest, without the prior written consent of the Pledgee, except for the purposes of the performance of the Project Agreements;

  6.1.2	shall promptly notify the Pledgee of any event or notice received by the Pledgers that may have an impact on the Equity Interest or any portion thereof, as well as any event or notice received by the Pledgers that may have an impact on any guarantees and other obligations of the Pledgers hereunder.

  6.2	The Pledgers agree that the rights acquired by the Pledgee in accordance with this Agreement with respect to the Pledge shall not be interrupted or jeopardized by the Pledgers or any heirs or representatives of the Pledgers or any other persons through any legal proceedings.

  6.3	The Pledgers hereby undertake to comply with and perform all guarantees, promises, agreement, representations and conditions of and under this Agreement. In the event of failure or partial performance of such guarantees, promises, agreements, representations and conditions, the Pledgers shall indemnify the Pledgee for all losses resulting therefrom.

  6.4   The Pledgers hereby waive the preemptive rights that they may enjoy when the Pledgee exercises the Pledge.

  7.	Event of Breach

  7.1	The following circumstances shall be deemed Event of Default:

  7.1.1	Party C fails to pay the consulting and service fees payable under the Exclusive Business Cooperation Agreement in full or violates any other obligations of Party C under the Exclusive Business Cooperation Agreement;

  7.1.2  The pledgers fails to repay the loan principal and interest (if any) under the Loan Agreement in full or violates any other obligations of the pledgers under the Loan Agreement;

  7.1.3  Party C and/or the Pledgers breach any obligations under the other Project Agreements ;

  7.1.2	The Pledgers have serious misstatement or mistake in any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 of this Agreement; or the Pledgers violate any covenants and further agreement in Section 6 of this Agreement

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  7.1.5	The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1;

  7.1.6	The Pledgers and Party C violate any other provisions of this Agreement;

  7.1.7	Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent;

  7.1.8	The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise;

  7.1.9	Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid is withdrawn, terminated, invalid or substantially changed;

  7.1.10	The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder;

  7.1.11	The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder;

  7.1.12	Party C’s heirs or custodians only partially perform or refuse to perform their payment obligations under the Project Agreements;

  7.1.13	Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the Pledge. 

  7.2	Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers shall immediately notify the Pledgee in writing accordingly.

  7.3	Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers to immediately pay all outstanding payments due and payable under the Project Agreements and all other payments due to the Pledgee and/or dispose of the Pledge in accordance with Section 8 of this Agreement.

  8.	Exercise of Pledge

  8.1	Before the Secured Indebtedness is paid in full, the Pledgers shall not transfer the Pledge or its Equity Interest in Party C, or re-pledge the equity to any third party without the Pledgee’s written consent.

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  8.2	The Pledgee may issue a written Notice of Default to the Pledgers when it exercises the Pledge.

  8.3	Subject to the provisions of Section 7.3, the Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.2. 

  8.4	The Pledgee shall the have right to be paid in priority with all or part of the Equity Interest from the proceeds from the transfer, auction or sale of the Equity Interest until the complete compensation of all outstanding payments due and other due payments to the Pledgee under the Project Agreements. 

  8.5	When the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgers and Party C shall provide necessary assistance to enable the Pledgee to enforce the Pledge in accordance with this Agreement.

  9.	Assignment

  9.1	Without the Pledgee’s prior written consent, the Pledgers shall not assign or delegate their rights and obligations under this Agreement. However, the Pledgee may assign or delegate its obligations and rights under this Agreement without seeking any consent of the Pledgers or Party C, but the Pledgees and Party C must be notified within a reasonable time.

  9.2	This Agreement shall be binding on the Pledgers and his/her successors and permitted assignees, and shall be valid with respect to the Pledgee and each of his/her successors and assignees.

  9.3	The Pledgee may at any time assign any and all of its rights and obligations under the Project Agreements to its assignee(s) (natural persons/legal persons), in which case the assignee shall enjoy and undertake the rights and obligations of the Pledgee under this Agreement, as if it were the original party to this Agreement. When the assignee transfers its rights and obligations under the Project Agreements, the Pledgers shall execute relevant agreements or other documents related to such transfer as required by the Pledgee.

  9.4	In the event of change of the Pledgee due to assignment, the Pledgers shall, at the request of the Pledgee, execute a new pledge contract with the new Pledgee on the same terms and conditions as this Agreement, and enter into updated the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement, the Power of Attorney Agreements, the Loan Agreement and other relevant documents.

  9.5	The Pledgers shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by all or any of the Parties hereto, including the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement, the Loan Agreement, and the Power of Attorney Agreement, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability hereof and thereof. Any residual rights of the Pledgers with respect to the Equity Pledged 

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  hereunder shall not be exercised by the Pledgers except in accordance with the written instructions of the Pledgee.

  10.	Termination and release of the Pledge

  Upon the sufficient and complete fulfillment of all Contractual Obligations and the full payment of all Secured Indebtedness by the Pledgers and Party C, The pledgee shall release the Pledge of Equity Interest in accordance with the requirements of the Pledgers under this Agreement as soon as possible within a reasonable and feasible time, and cooperate with the Pledgers to cancel the registration of the Pledge of Equity Interest in the shareholders’ register of Party C and handle cancellation registration of the Pledge with the AIC.

  11.	Handling Fees and Other Expenses

  All fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp tax and any other taxes and fees, shall be borne by Party C. If the Pledgee is required under applicable laws to bear certain taxes and fees, the Pledgers shall cause Party C to reimburse in full such taxes and fees paid by the Pledgee.

  12.	Confidentiality

  The Parties acknowledge that any oral or written information exchanged between the Parties in connection with the preparation and performance this Agreement constitute confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (i) is or becomes available to the general public (other than through the receiving Party’s unauthorized disclosure); (ii) is required to be disclosed by applicable laws or regulations or rules or regulations of any stock exchange; or (iii) is necessary to be disclosed by any Party to its legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential information by the employees of or agencies engaged by any Party shall be deemed disclosure by such Party itself and such Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement for any reason.

  13.	Governing Law and Dispute Resolution

  13.1	The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the dispute resolution hereunder shall be governed by the laws of China. 

  13.2	In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement within 30 days after either Party requests to the 

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  other Parties for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective Arbitration Rules. The arbitration shall be conducted in Beijing. The language of arbitration shall be Chinese. The arbitration award shall be final and binding on all Parties.

  13.3	Upon occurrence of any disputes arising from the construction and performance of this Agreement or pending arbitration of any dispute, except for the matters under dispute, the Parties shall continue to exercise their respective rights and perform their respective obligations hereunder.

  14.	Notices

  14.1	All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail with postage prepaid, commercial courier service or facsimile transmission to the contact address of such Party. Each notice shall be followed by a confirmation copy sent by email. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

  14.1.1	Notices given by personal delivery, courier service, registered mail with postage prepaid shall be deemed effectively given on the date of receipt or rejection at the address specified for notices.

  14.1.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

  14.2	Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms hereof.

  15.	Severability

  In the event that one or several provisions hereof are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. The Parties shall negotiate in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

  16.	Schedules

  The schedules hereto shall form an integral part of this Agreement.

  17.	Effectiveness

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  17.1	This Agreement shall come into force upon being signed by the Parties. Any amendment, change and supplement to this Agreement shall be made in written form and become effective after being signed and stamped by the Parties and upon the completion of the registration with the government (if applicable).

  17.2	This Agreement is written in Chinese in four counterparts of equal legal force. If the Parties enter into other Equity Pledge Agreement with contents different from this Agreement for the purpose of registering the equity pledge, etc., the Parties agree that this Agreement shall control.

   

   [Signature page follows]

   

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  (Signature Page to Equity Pledge Agreement)

  Party A: 

  Beihai Green Lemon Technology Co., Ltd. (Seal)

  Legal Representative: /s/YANG Tao                  

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

  (Signature Page to Equity Pledge Agreement)

   

  

   

  Party B:

  YANG Tao

  Signature: /s/YANG Tao

   

   

   

   

  HAN Chao

  Signature: /s/HAN Chao

   

   

   

   

   

   

   

   

   

   

   

   

  (Signature Page to Equity Pledge Agreement)

   

  

   

  Party C:

  Beihai Super Egg E-Commerce Co., Ltd. (Seal)

  Legal Representative:/s/YANG Tao

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

  Schedule 

   

  Shareholders’ Register of Beihai Super Egg E-Commerce Co., Ltd.

   

  

   

  Dated: November 4, 2021

  			
	Shareholder’s name
	ID No. 
	Capital Contribution’s Status

	YANG Tao
	ID No.: ******************
	Capital Contribution Certificate:No.1
Amount of Subscription:RMB25,000,000.00     Ratio of Contribution:50%
All of such 50% equity interest has been pledged to Beihai Green Lemon Technology Co., Ltd. 

	HAN Chao
	ID No. : ******************
	Capital Contribution Certificate:No.2
Amount of Subscription:RMB25,000,000.00     Ratio of Contribution:50%
All of such 50% equity interest has been pledged to Beihai Green Lemon Technology Co., Ltd.  Ltd.

	 
	 
	 
company:
 
Beihai Super Egg E-Commerce Co., Ltd. (seal)
 
Legal Representative: /s/YANG Tao

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