Document:

Exhibit
10.1

 

Exclusive
Management Consulting and Technical 

Service Agreement

 

This
Exclusive Management Consulting and Technical Service Agreement (hereinafter referred to as "this agreement")
is signed by and between the following two parties in Changzhou, People's Republic of China (hereinafter referred to as "China")
on November 8, 2019.

 

		Party
                            A:	Changzhou
Jiekai New Energy Technology Co., Ltd., a wholly foreign-owned company established and validly existing under the laws of
China, with its address at Room A507, Science and Technology Industry Building, Jiangsu Research Institute, Dalian University
of Technology, Changzhou Science and Education Town, No. 18, Changwu Central Road, Wujin District, Changzhou;

 

		Party
                            B:	Jiangsu
Baozhe Electric Technologies, Co., Ltd., a limited liability company established and validly existing under the laws of China,
with its address at Room A508, Science and Technology Industry Building, Jiangsu Research Institute, Dalian University of Technology,
Changzhou Science and Education Town, No. 18, Changwu Central Road, Wujin District, Changzhou.

 

Party
A and Party B are hereinafter separately referred to as the "party" and collectively referred to as the "parties"
below.

 

Whereas:

 

		1.	Party
                                         A is a wholly foreign-owned enterprise registered in China and has the necessary resources
                                         to provide technical and management consulting, intellectual property licensing and other
                                         supporting services;

 

		2.	Party
                                         B is a domestic company registered in China and can be engaged in the production and
                                         sales of electric bicycles and lithium batteries (hereinafter referred to as the "main
                                         businesses") with the approval of the relevant Chinese government departments according
                                         to the laws;

 

		3.	Party
                                         A agrees to make use of its technical, personnel and information advantages to provide
                                         Party B with exclusive technical and business support and management consulting services
                                         related to the main businesses during the term of this agreement, and Party B agrees
                                         to accept the consulting and various services provided by Party A or its designated party
                                         in accordance with the provisions in this agreement.

 

    1

     

    

 

Therefore,
Party A and Party B reach the following terms and conditions through consultations:

 

		1.	Service
                                         provision

 

		1.1	In
                                         accordance with the terms and conditions in this agreement, Party B hereby appoints Party
                                         A as the exclusive service provider of Party B during the term of this agreement to provide
                                         Party B with comprehensive management consulting, technical support, intellectual property
                                         licensing and related services, including all necessary services determined by Party
                                         A from time to time within the scope of Party B’s main businesses, including but
                                         not limited to the following contents:

 

		1.1.1	Management
                                         consulting: Draft, modify and improve Party B’s strategic development plan, business
                                         plan and investment plan, the market development strategy plan for products and services,
                                         the annual financial budget plan, the establishment plan for internal management organizations,
                                         and the basic management system of the company, and urge Party B to strictly implement
                                         such plans and systems;

 

		1.1.2	Technical
                                         services: Research, development, maintenance and upgrading of technologies related to
                                         Party B’s business operation; consulting services for Party B’s procurement
                                         of equipment, software and hardware systems required for business operation; technical
                                         training and guidance for Party B’s employees; other technical services related
                                         to Party B’s business operation; and

 

		1.1.3	Intellectual
                                         property licensing: Party A agrees to license Party B to use the intellectual property
                                         rights owned by Party A and necessary for Party B’s business operation (including
                                         but not limited to trademarks, patents, websites, domain names, software and other intellectual
                                         property rights).

 

		1.2	Party
                                         B shall accept Party A’s consultations and services. Party B further agrees that,
                                         unless otherwise agreed by Party A in writing in advance, during the term of this agreement,
                                         Party B shall not directly or indirectly obtain any consultation and/or service identical
                                         or similar to this agreement from any third party with respect to any service or other
                                         issues agreed in this agreement, shall not establish any similar cooperative relationship
                                         with any third party in respect of the matters mentioned in this agreement, and shall
                                         not enter into any transaction which may result in any conflict with this agreement or
                                         adversely affect Party A’s interests under this agreement.

 

    2

     

    

 

		2.	Service
                                         price and mode of payment

 

Both
parties agree that, for the services provided by Party A to Party B under this agreement, Party B shall, within three months after
each accounting year, pay to Party A 95% of the remaining after-tax profits after making up the losses in the previous year and
drawing the provident fund as the remuneration for Party A’s services (hereinafter referred to as the "service fee").

 

With
the prior written consent of Party A, the ratio of the above service fee can be adjusted according to the business needs of Party
B.

 

		3.	Intellectual
                                         property rights and confidentiality

 

		3.1	Party
                                         A shall have sole and exclusive rights and interests in any right, ownership, interest
                                         and all intellectual property rights arising from or created by the performance of this
                                         agreement, including but not limited to copyright, patent right, patent application right,
                                         software, know-how, business secret and others. Party B shall sign all appropriate documents,
                                         take all appropriate actions, submit all documents and / or applications, provide all
                                         appropriate assistance, and do all other acts deemed necessary by Party A at its own
                                         discretion, so as to grant Party A with any ownership, right and interest in such intellectual
                                         property rights, and/or improve the protection of such intellectual property rights of
                                         Party A.

 

		3.2	Both
                                         parties acknowledge and confirm that any oral or written information exchanged between
                                         them in connection with this agreement, its contents and the preparation or performance
                                         of this agreement shall be deemed as confidential information. Both parties shall keep
                                         the confidentiality of all such confidential information and shall not disclose any confidential
                                         information to any third party without the written consent of the other party, except
                                         for: (a) any information known or to be known to the public (but not disclosed to the
                                         public by the party receiving the confidential information arbitrarily); (b) any information
                                         required to be disclosed in accordance with the applicable laws and regulations, stock
                                         trading regulations, or order of a government department or court; or (c) any information
                                         required to be disclosed by either party to its shareholders, investors, legal or financial
                                         advisers in connection with the transactions described in this agreement, provided that
                                         such shareholders, legal or financial advisers shall also abide by the confidentiality
                                         obligations similar to those in this article. Where any staff of either party or any
                                         institution engaged by either party leaks any such information, the case shall be deemed
                                         that the party discloses the confidential information and shall be liable for breach
                                         of the contract in accordance with this agreement. This clause shall remain in force
                                         regardless of the termination of this agreement for any reason.

 

		3.3	Both
                                         parties agree that this clause shall remain in force regardless of whether this agreement
                                         is modified, cancelled or terminated.

 

    3

     

    

 

		4.	Representations
and warranties

 

		4.1	Party
                                         A represents and warrants as follows:

 

		4.1.1	Party
                                         A is a wholly foreign-owned enterprise legally registered and validly existing in accordance
                                         with the laws of China.

 

		4.1.2	Party
                                         A has taken the necessary corporate actions, obtained the necessary authorizations, and
                                         obtained the consent and approval (if necessary) of the third party and government departments
                                         to sign, deliver and perform this agreement; Party A’s signing, delivery and performance
                                         of this agreement do not violate the explicit provisions of laws and regulations.

 

		4.1.3	This
                                         agreement constitutes a legal, valid and binding obligation on it and is enforced against
                                         it in accordance with the terms and conditions of this agreement.

 

		4.2	Party
                                         B represents and warrants as follows:

 

		4.2.1	Party
                                         B is a company legally registered and validly existing in accordance with the laws of
                                         China, and Party B has obtained the government license and permit required for its main
                                         businesses.

 

		4.2.2	Party
                                         B has taken the necessary corporate actions, obtained the necessary authorizations, and
                                         obtained the consent and approval (if necessary) of the third party and government departments
                                         to sign, deliver and perform this agreement; Party B’s signing, delivery and performance
                                         of this agreement do not violate the explicit provisions of laws and regulations.

 

		4.2.3	This
                                         agreement constitutes a legal, valid and binding obligation on it and is enforced against
                                         it in accordance with the terms and conditions of this agreement.

 

    4

     

    

 

		5.	Coming
into force and period of validity

 

		5.1	This
                                         agreement is signed and shall come into force on the date first written above.

 

		5.2	Unless
                                         otherwise terminated earlier in accordance with this agreement or other agreements between
                                         both parties, this agreement shall be valid for twenty years.

 

		5.3	Unless
                                         otherwise notified by Party A in writing, this agreement shall be automatically renewed
                                         after the expiration of the above term of validity until the expiration of the business
                                         term of Party A or Party B.

 

		5.4	Unless
                                         otherwise stipulated by laws or this agreement, Party B shall have no right to terminate
                                         this agreement.

 

		6.	Termination

 

		6.1	During
                                         the validity of this agreement, Party B shall not terminate this agreement earlier unless
                                         Party A has any material negligence or fraud against Party B. Nevertheless, Party A may
                                         terminate this agreement at any time by giving a written notice to Party B 30 days in
                                         advance.

 

		6.2	After
                                         the termination of this agreement, the rights and obligations of the parties under Articles
                                         3, 7 and 8 shall remain in force.

 

		7.	Governing
law and settlement of disputes

 

		7.1	The
                                         formulation, validity, interpretation, performance, modification and termination of this
                                         agreement and the settlement of disputes shall be governed by the laws of China.

 

		7.2	Any
                                         dispute arising from the interpretation and performance of this agreement shall be settled
                                         by both parties through friendly negotiations. Where any dispute is still not settled
                                         within 30 days after one party has sent a written notice to the other party requesting
                                         settlement through negotiations, either party may submit the dispute to China International
                                         Economic and Trade Arbitration Commission for arbitration in accordance with its arbitration
                                         rules. The arbitration shall be conducted in Shanghai and the language shall be Chinese.
                                         The arbitration award shall be final and binding on all parties.

 

		7.3	In
                                         case of any dispute arising from the interpretation and performance of this agreement
                                         or when any dispute is under arbitration, both parties shall continue to exercise their
                                         other rights and perform their other obligations under this agreement except for the
                                         matters in dispute.

 

    5

     

    

 

		8.	Assignment
of the agreement

 

		8.1	Party
                                         B shall not assign its rights and obligations under this agreement to any third party,
                                         unless otherwise agreed by Party A in writing in advance.

 

		8.2	Party
                                         B hereby agrees that Party A may assign its rights and obligations under this agreement
                                         to other third parties when it needs to do so, and when such assignment occurs, Party
                                         A only needs to give a written notice to Party B, and there is no need to obtain Party
                                         B’s consent for such assignment.

 

		9.	Severability
of the agreement

 

Where
one or more provisions of this agreement are held to be invalid, illegal or unenforceable in any respect under any law or regulation,
the validity, legality or enforceability of the remaining provisions of this agreement shall not be affected or impaired in any
way. Both parties shall carry out negotiations in good faith to replace those invalid, illegal or unenforceable provisions with
provisions permitted by law and expected by both parties to be effective to the maximum extent, and the economic effects of such
effective provisions shall be as similar as possible to those of the invalid, illegal or unenforceable provisions.

 

		10.	Amendment
to and supplementing of the agreement

 

Both
parties may amend and supplement this agreement in any written agreement. Any amendment agreement and supplementary agreement
signed by both parties with respect to this agreement shall be integral part of this agreement and have the same legal effect
as this agreement.

 

		11.	Language
and duplicate

 

This
agreement is made in two sets, and each party shall hold one set, which shall have the same legal effect.

 

[The
rest of this page is intentionally left blank.]

 

    6

     

    

 

In
witness whereof, the parties have caused their authorized representatives to sign this Exclusive Management Consulting and
Technical Service Agreement on the date written above first, which shall come into force immediately and be abided by.

 

 

  

 

 

 

 

 

 

8Exhibit 10.2

 

Exclusive Call Option Agreement

 

This Exclusive Call
Option Agreement (“the Agreement”) is made as of __November 8_, 2019 in Changzhou, China by and among:

 

		Party A: 	Changzhou Jiekai New Energy Technology Co., Ltd.
a wholly foreign-owned company established and validly existing under the laws of China, with its address at Room A507, Science
and Technology Industry Building, Jiangsu Research Institute, Dalian University of Technology, Changzhou Science and Education
Town, No. 18, Changwu Central Road, Wujin District, Changzhou;

 

		Party B	(including the following parties who are Party C’s
shareholders):

 

	No.	Shareholder	ID Card Number/Unified Social Credit Code	Address	Ratio of Shareholding
	1	Ye Jianhui	441623198708162758	No. 5 Shuikou Team, Dongkeng Village, Longjie Town, Lianping County, Guangdong Province	28.716%
	2	Chen Henglong	320402196304045010	Room 201, Unit C, Building 177, Cuizhu New Village, Tianning District, Changzhou City, Jiangsu Province	15.907%

 

     

     

    

 

	3	Xinyu Xingcaitong Growth 2 Investment Partnership, LLP	91360502MA36UM6181	Room 906, New Economic Building, No. 21 Kangtai Road, Yushui District, Xinyu City, Jiangxi Province	9.930%
	4	Xinyu Xingcaitong Growth 1 Investment Partnership, LLP	91360502MA3644DE89	Room 201, No. 42 North Laodong Road, Yushui District, Xinyu City, Jiangxi Province	6.876%
	5	Yao Ting	32118219820626002X	Room 301, Building 9, Lijing Garden, Yangzhong City, Jiangsu Province	6.710%
	6	Xu Huajian	330106196602194015	Room 1502, Unit 3, Building 13, Wenjin Yuan, Xihu District, Hangzhou City	6.000%
	7	Jin Peiyao	310110198302081043	Room 602, No. 1 Lane 138, Nandan Road, Xuhui District, Shanghai City	5.059%

 

    2

     

    

 

	8	Hu Wenbin	320421197403044738	Room 102, Building 79-11, Qingliang New Village, Tianning District, Changzhou City, Jiangsu Province	4.800%
	9	Zhong Lina	330381198304191422	No. 52 South Xunhe Road, Baotian, Tangxia Town, Ruian City, Zhejiang Province	4.500%
	10	Lu Xiaohai	332602197609065812	No. 3-15 Fangjialong Village, Datian Street, Linhai City, Zhejiang Province	4.180%
	11	Liu Yihan	320483199905045229	No. 10 Dafentou, Xiliutang Village, Hengshanqiao Town, Wujin District, Changzhou City, Jiangsu Province	4.000%
	12	Xie Yanhong	332602197905261009	No. 2-6 Badie Village, Yongfeng Town, Linhai City, Zhejiang Province	1.821%

 

    3

     

    

 

	13	Chen Yanwen	34230119621023106X	Room 201, Building 1, No. 22 Nongke Alley, Langya District, Chuzhou City, Anhui Province	1.500%

 

		Party C:	Jiangsu Baozhe Electric Technologies Co., Ltd.,
a limited liability company established and validly existing under the laws of China, with its address at Room A508, Science and
Technology Industry Building, Jiangsu Research Institute, Dalian University of Technology, Changzhou Science and Education Town,
No. 18, Changwu Central Road, Wujin District, Changzhou.

 

Party A, Party B and
Party C are collectively referred to as the “Parties”, and each a “Party”.

 

Whereas:

 

		1)	Subject to PRC Laws, Party B is willing to transfer all equity interests it holds in Party C to
Party A and Party A is willing to accept such transfer. Party C agrees that Party B may grant the Equity Option to Party A in accordance
with the provisions of the Agreement;

 

		2)	Subject to PRC Laws, Party C is willing to transfer its Corporate Assets to Party A and Party A
is willing to accept such transfer. Party B agrees that Party C may grant the Asset Option to Party A in accordance with the provisions
of the Agreement;

 

		3)	For the purpose of the equity transfer and asset transfer mentioned above, Party B and Party C
irrevocably grant exclusive and unconditional Equity Option and Asset Option respectively to Party A. Subject to such Equity Option
and Asset Option, Party B or Party C shall, upon Party A’s request and to the extent permitted by PRC Laws, transfer Party
C’s equity interests or assets to Party A.

 

    4

     

    

 

NOW THEREFORE,
after consultation, the Parties agree as follows:

 

		1.	Definition

 

Unless the context
otherwise requires herein, for the purpose of the Agreement, the following terms shall have the following meanings:

 

“Asset Option”
refers to Party A’s right to purchase any of Party C’s assets hereunder.

 

“Business
Permit” refers to the approval, permit, filing, registration and other materials obtained by Party C in order to legally
and validly operate its business, including without limitation business license and other permits and certificates required by
PRC Laws.

 

“Corporate
Assets” refers to all tangible and intangible assets (such as trademark, copyright, patent, know-how, domain name, right
to use software and other intellectual property rights) that Party C has or is entitled to dispose of during the term of the Agreement.

 

“Party C’s
Registered Capital” refers to Party C’s registered capital as of the date hereof and Party C’s additional
registered capital raised in any form of capital increase during the term of the Agreement.

 

“Control”
refers to the ownership of the right or power (whether exercised or not) to administer the business operation, management and rules
and regulations of another Person, whether through the ownership of voting equities, in contract or otherwise. However, it may
be inferred that a Person has the right or power mentioned above if such Person holds the interest in more than 50% of voting equities,
or is able to control the votes of more than 50% of voting equities, or is able to control the composition of the majority of the
board of directors.

 

“Encumbrance”,
for the purpose of the Agreement, refers to any legal restriction on or third-party right or interest of any kind in any property,
including without limitation lien, pledge, guarantee, third-party right and claim, voting proxy, voting trust or similar arrangement,
title defect, title retention agreement, option, restrictive covenant, transfer restriction, right of first refusal or preemptive
right, or any similar interest, or other legal restriction of any nature.

 

“Equity Option”
refers to Party A’s right to purchase any of the Corporate Equity hereunder.

 

“Exercise”
refers to Party A’s exercise of the Equity Option or Asset Option.

 

    5

     

    

 

“Material
Assets” refers to assets which have a book value of RMB300,000 or more or which may have a material effect on the business
operation of any Party.

 

“Material
Agreement”, in respect of Party C, refers to any agreement to which Party C is a party and which has a material effect
on Party C’s business or assets, including without limitation the Exclusive
Management Consulting and Technical Service Agreement between Party C and Party A dated the date hereof and the supplementary
agreement thereto.

 

“Corporate
Equity” refers to equity interests held by Party B in Party C.

 

“Transferee”
refers to Party A or a Person designated by Party A who shall be: 1) a direct or indirect shareholder of Party A (as of the exercise
of the Equity Option or Asset Option); or 2) a director of Party A or of a direct or indirect shareholder of Party A and a PRC
citizen (as of the exercise of the Equity Option).

 

“Person”
includes individuals, companies, partnerships, individual proprietorship enterprises and other enterprises and entities.

 

“PRC”
refers to the People’s Republic of China and for the purpose of the Agreement excludes Hong Kong Special Administrative Region,
Macao Special Administrative Region and Taiwan Region.

 

“PRC Laws”
refers to the laws, administrative regulations, administrative rules, local laws, judicial interpretations and other binding normative
documents of law currently in force in PRC, whether coming into force before or after the execution of the Agreement.

 

“Subsidiary”,
in respect of a Person, refers to another Person controlled directly or indirectly by such Person.

 

“Equity”
refers to all or part of Corporate Equity which Party A requires Party B to transfer to the Transferee when exercising the Equity
Option in accordance with Section 3 hereof, with the specific amount to be solely determined by Party A in accordance with PRC
Laws and commercial considerations.

 

“Assets”
refers to all or part of Corporate Assets which Party A requires Party B to transfer to the Transferee when exercising the Asset
Option in accordance with Section 3 hereof, to be solely determined by Party A in accordance with PRC Laws and commercial considerations.

 

    6

     

    

 

“Transfer
Price” refers to all considerations that the Transferee shall pay to Party B or Party C in order to acquire the Equity
or Assets.

 

		2.	Grant of Equity Option or Asset Option

 

		2.1	Party B agrees to grant Party A an irrevocable, unconditional and exclusive Equity Option. Subject
to such Equity Option, Party A shall have the right to require Party B to transfer the Corporate Equity to the Transferee in accordance
with the Agreement to the extent permitted by laws. Party A also agrees to accept such right to transfer equity. No third party
other than the Transferee shall have an option on, or other rights relating to, the Corporate Equity.

 

		2.2	Party C agrees that Party B may grant the Equity Option to Party A in accordance with the provisions
of the Agreement.

 

		2.3	Party C shall grant Party A an irrevocable, unconditional and exclusive Asset Option. Subject to
such Asset Option, Party A shall have the right to require Party C to transfer the Corporate Assets to the Transferee in accordance
with the Agreement to the extent permitted by laws. Party A also agrees to accept such right to transfer assets. No third party
other than the Transferee shall have an option on, or other rights relating to, the Corporate Assets.

 

		2.4	Party B agrees that Party C may grant the Asset Option to Party A in accordance with the provisions
of the Agreement.

 

		3.	Way of Exercise

 

		3.1	Party A shall, to the extent permitted by PRC Laws, decide at its absolute discretion the specific
time, mode and number of times of Exercise.

 

		3.2	Party A shall, to the extent permitted by PRC Laws, be entitled to require Party B to transfer
the Corporate Equity to the Transferee at any time.

 

		3.3	Party A shall, to the extent permitted by PRC Laws, be entitled to require Party C to transfer
the Corporate Assets to the Transferee at any time.

 

		3.4	With regard to the Equity Option, Party A shall, upon each Exercise, have the right to solely decide
the amount of Equity to be transferred by Party B to the Transferee. Party B shall transfer the Equity to the Transferee in such
amount as required by Party A . The Transferee shall, upon any Exercise, pay the applicable Transfer Price to Party B who transfers
the Equity.

 

    7

     

    

 

		3.5	With regard to the Asset Option, Party A shall, upon each Exercise, have the right to solely decide
the Assets to be transferred by Party C to the Transferee. Party C shall transfer the Assets to the Transferee as required by Party
A. The Transferee shall, upon any Exercise, pay the applicable Transfer Price to Party C.

 

		3.6	Party A may, upon each Exercise, accept by itself or through a third party designated by it the
transfer of the Equities or Assets in whole or in part.

 

		3.7	Prior to each Exercise, Party A shall give Party B or Party C a notice of exercise of the Equity
Option or Asset Option (“Exercise Notice”, in a form as set forth in Annex 1 or 2). Party B or Party C shall
transfer the Equity or Assets to the Transferee in accordance with the provisions of the Agreement and as required by the Exercise
Notice within 5 working days after its receipt of the Exercise Notice or any other period of time required by the Transferee.

 

		4.	Transfer Price

 

		4.1	Upon each exercise of the Equity Option, the Transferee shall pay Party B a Transfer Price equal
to the lower of: 1) the amount actually paid by Party B to Party C for equity interests purchased; and 2) the minimum price allowed
by PRC Laws.

 

		4.2	Upon each exercise of the Asset Option, the Transferee shall pay Party C a Transfer Price equal
to the lower of: 1) the net book value of assets purchased; and 2) the minimum price allowed by PRC Laws.

 

		5.	Representations and Warranties

 

		5.1	Party B hereby severally and jointly represents and warrants:

 

		5.1.1	Each of Party B is a PRC citizen having full capacity for civil conduct, has the full and independent
legal status and capacity to execute and perform the Agreement, and is qualified to independently bring a lawsuit.

 

		5.1.2	Party C, as a limited liability company established and validly existing in accordance with PRC
Laws, has independent corporate capacity and the capacity and authority to execute and perform the Agreement, and is qualified
to independently bring a lawsuit.

 

    8

     

    

 

		5.1.3	Party B has sufficient power and full authority to execute and perform the Agreement and other
documents to be executed hereunder, and also has sufficient capacity and authority to consummate transactions contemplated hereby.

 

		5.1.4	The Agreement is lawfully and validly executed by Party B and constitutes the lawful, valid, binding
and enforceable obligation of Party B in accordance with its terms.

 

		5.1.5	Party B is the lawful owner of the Corporate Equity. Except the rights created in the Equity Pledge
Agreement and the Agreement on Entrustment of Voting Rights of Shareholder between Party C, Party A and Party B dated the
date hereof, Party B creates no other Encumbrance on the Corporate Equity and pledges, assigns or transfers none of its interests
in the Corporate Equity to any third party. After the exercise of the Equity Option, the Transferee will acquire the full right
on the Equity free of any Encumbrance.

 

		5.1.6	No other Encumbrance is created on the Corporate Assets. After the exercise of the Asset Option,
the Transferee will acquire the full right on the Assets free of any Encumbrance.

 

		5.1.7	The execution and performance of the Agreement or any agreement relating to the Agreement will
not:

 

		(i)	violate any of PRC Laws;

 

		(ii)	conflict with the articles of association or other constitutive documents of Party C;

 

		(iii)	breach any contract or document to which it is a party or which is binding upon it;

 

		(iv)	be in breach of any condition of grant or maintenance of any permit or approval issued to any Party;
or

 

		(v)	result in the suspension or cancellation of, or the imposition of any condition on, any permit
or approval issued to any Party.

 

    9

     

    

 

		5.1.8	Party C is presently subject to no pending or threatened litigation, arbitration, tax or administrative
investigation or penalty relating to the Corporate Equity or Corporate Assets or to Party C, and to no pending or threatened litigation,
judicial proceeding, tax dispute, arbitration claim, or appeal to any government department which may have a negative effect on
Party C’s financial condition or ability to perform its obligations hereunder.

 

		5.2	Party C hereby represents and undertakes:

 

		5.2.1	Party C, as a limited liability company established and validly existing in accordance with PRC
Laws, has independent corporate capacity and the capacity and qualification to execute and perform the Agreement, and is qualified
to independently bring a lawsuit.

 

		5.2.2	Party C has sufficient power and full authority to execute and perform the Agreement and other
documents to be executed hereunder. Party C has sufficient power and authority to consummate transactions contemplated hereby.

 

		5.2.3	The Agreement is lawfully and validly executed by Party C. The Agreement constitutes the lawful,
valid, binding and enforceable obligation of Party C in accordance with its terms.

 

		5.2.4	No other Encumbrance is created on the Corporate Assets. After the exercise of the Asset Option,
there is no Encumbrance on the Assets.

 

		5.2.5	The execution and performance of the Agreement or any agreement relating to the Agreement will
not:

 

		(i)	violate any of PRC Laws;

 

		(ii)	conflict with the articles of association or other constitutive documents of Party C;

 

		(iii)	breach any contract or document to which it is a party or which is binding upon it;

 

		(iv)	be in breach of any condition of grant or maintenance of any permit or approval issued to it; or

 

		(v)	result in the suspension or cancellation of, or the imposition of any condition on, any permit
or approval issued to it.

 

		5.2.6	Party C has no outstanding liabilities other than those incurred in its ordinary course of business.

 

    10

     

    

 

		5.2.7	Party C is presently subject to no pending or threatened litigation, arbitration, tax or administrative
investigation or penalty relating to the Corporate Equities or Corporate Assets or to Party C, and to no pending or threatened
litigation, judicial proceeding, tax dispute, arbitration claim, or appeal to any government department which may have a negative
effect on Party C’s financial condition or ability to perform its obligations hereunder.

 

		5.3	Party A hereby represents and undertakes:

 

		5.3.1	Party A, as a wholly foreign-owned enterprise established and validly existing in accordance with
PRC Laws, has independent corporate capacity and the capacity and qualification to execute and perform the Agreement, and is qualified
to independently bring a lawsuit.

 

		5.3.2	Party A has sufficient power and full authority to execute and perform the Agreement and other
documents to be executed hereunder. Party C has sufficient power and authority to consummate transactions contemplated hereby.

 

		5.3.3	The Agreement is lawfully and validly executed by Party A. The Agreement constitutes the lawful,
valid, binding and enforceable obligation of Party A in accordance with its terms.

 

		6.	Party B’s Undertakings

 

Each of Party B hereby undertakes:

 

		6.1	During the term of the Agreement, without Party A’s prior written consent, Party B shall
not:

 

		6.1.1	transfer or otherwise dispose of the Corporate Equity, nor create any Encumbrance on the Corporate
Equity;

 

		6.1.2	increase or reduce Party C’s Registered Capital, nor change the structure of Party C’s
Registered Capital, nor procure or allow the division, or merger with any other entity, of Party C;

 

		6.1.3	dispose of or cause Party C’s management to dispose of Material Assets (except in the daily
course of business), nor create any Encumbrance on any Material Assets;

 

    11

     

    

 

		6.1.4	terminate or cause Party C’s management to terminate any Material Agreement executed by Party
C, nor execute any other agreement that conflicts with any of the existing Material Agreements;

 

		6.1.5	appoint, dismiss or replace any director, supervisor or management member of Party C who shall
be appointed or dismissed by Party B.

 

		6.1.6	procure Party C to distribute or actually distribute any distributable profit, bonus or dividend;

 

		6.1.7	procure or allow the termination, liquidation or dissolution of Party C;

 

		6.1.8	terminate, liquidate or dissolve Party C or otherwise impair or threaten to impair the valid existence
of Party C, nor violate normal financial and commercial standards and practices;

 

		6.1.9	modify Party C’s articles of association;

 

		6.1.10	cause or allow Party C to merge or combine with any Person or to acquire or invest in any Person;

 

		6.1.11	cause or allow Party C to lend or borrow any money, or to provide any guarantee or engage in any
guarantee activities in any form, or to undertake any material obligation other than in the ordinary course of business; and

 

		6.2	Party B shall make every effort to develop Party C’s business and ensure the compliance of
Party C’s operations with PRC Laws. Party B shall not perform any action or inaction that is detrimental to Party C’s
assets or reputation or affects the validity of Party C’s Business Permit.

 

		6.3	Party C shall notify Party A in a timely manner of any circumstance that may have material adverse
effect on the existence, business operation, financial condition, assets or reputation of Party C and shall take all measures agreed
by Party A to eliminate the foregoing adverse circumstance in a timely manner.

 

		6.4	Party B shall immediately notify Party A of any actual or probable litigation, arbitration or administrative
proceeding relating to the Corporate Equity held by it and shall take all measures agreed by Party A to deal with the foregoing
litigation, arbitration or administrative proceeding in a timely manner.

 

    12

     

    

 

		6.5	Party B shall execute all such documents, take all such actions and file all such complaints or
make such defense against all claims as necessary for maintaining its ownership of the Corporate Equity.

 

		6.6	Party B shall, upon Party A’s request, appoint any person designated by Party A as Party
C’s director.

 

		6.7	If Party A gives an Exercise Notice relating to the transfer of the Corporate Equity,

 

		6.7.1	Party B shall immediately convene a meeting of the shareholders assembly of Party C, adopt a resolution
of the shareholders assembly and take other necessary measures (including causing Party C’s executive director or board of
directors to vote in favor of the same) to approve Party B’s transfer of Equity to the Transferee at the Transfer Price,
and waive its right of first refusal, if any, in another Party B’s transfer of equity;

 

		6.7.2	Party B shall immediately enter into an equity transfer agreement with the Transferee to transfer
the Equity to the Transferee at the Transfer Price, and shall, as required by Party A and in accordance with laws, provide necessary
assistance (including providing or executing all relevant legal instruments, applying for and completing necessary government approval
or registration procedures, and undertaking all other relevant obligations) so that the Transferee is able to receive the Equity,
and shall ensure there is no Encumbrance on the Equity.

 

		6.8	If Party B receives any profit distribution, dividend or bonus in any form from Party C, Party
B undertakes to return the same (less taxes paid) to Party A in a timely manner;

 

		6.9	If Party B receives any payment upon the transfer of Party C’s equity or any distribution
upon Party C’s liquidation, and the amount of such payment or distribution is larger than the amount of borrowings owed by
Party C to Party A under relevant borrowing agreement, Party B shall return to Party A the balance remaining after the deduction
of relevant taxes, charges and borrowings.

 

    13

     

    

 

		6.10	For the purpose of practically ensuring the exercise of Party A’s Equity Option, Party B
agrees when executing the Agreement to sign another three copies of blank Equity Transfer Agreement, which shall be delivered
to Party C for custody so that Party A may receive corresponding equity pursuant to such agreement in the event that Party B fails
to perform the Agreement in a timely manner.

 

		7.	Party C’s Undertakings

 

		7.1	Party C hereby undertakes:

 

		7.1.1	If any consent, approval, exemption, authorization, registration or application is required to
be obtained from or made with any third party or government department in connection with the execution and performance of the
Agreement and the grant of the Equity Option or Asset Option, Party C shall make every effort to provide assistance.

 

		7.1.2	Without Party A’s prior written consent, Party C shall not assist or allow Party B to transfer
or otherwise dispose of any Corporate Equity or to create any Encumbrance on the Corporate Equity.

 

		7.1.3	Without Party A’s prior written consent, Party C shall not transfer or otherwise dispose
of any of Party C’s Material Assets (except in the daily course of business) nor create any Encumbrance on any of Party C’s
assets.

 

		7.1.4	Party C shall not commit, nor allow the commission of, any act likely to have an adverse effect
on Party A’s interest hereunder, including without limitation acts set forth in Section 6.1.

 

		7.1.5	Without Party A’s prior written consent, Party C shall in no way supplement or modify Party
C’s articles of association to increase or reduce Party C’s Registered Capital or otherwise change the structure of
Party C’s Registered Capital.

 

		7.1.6	Party C shall maintain its existence and asset value and cautiously and effectively operate its
business and handle its affairs according to good financial and commercial standards and practices, and shall not perform any action
or inaction that is sufficient to affect its state of operation and asset value.

 

    14

     

    

 

		7.1.7	Without Party A’s prior written consent, Party C shall not execute nor cause its Subsidiaries
to enter into any material contract (except in the ordinary course of business). For the purpose of this Section 7.1.7, a contract
that involves an amount of more than RMB 300,000 is a material contract.

 

		7.1.8	Party C shall, upon Party A’s request, provide Party A with all materials relating to Party
C’s operating and financial conditions.

 

		7.1.9	If required by Party A, Party C shall purchase from the insurer acceptable by Party A and maintain
insurance relating to its assets and business, the coverage and type of which shall correspond to those purchased and maintained
by companies operating similar business.

 

		7.1.10	Without Party A’s prior written consent, Party C shall not merge or combine with any Person
nor acquire or invest in any Person.

 

		7.1.11	Party C shall immediately notify Party A of any actual or probable litigation, arbitration or administrative
proceeding relating to Party C’s assets, business or revenue.

 

		7.1.12	Party C shall execute all such documents, take all such actions and file all such complaints or
make such defense against all claims as necessary or appropriate for maintaining Party C’s ownership of or other rights in
all of its assets.

 

		7.1.13	Without Party A’s prior written consent, Party C shall not distribute any dividend or bonus
to Party B in any form.

 

		7.1.14	Party C shall, as required by Party A, appoint any person designated by Party A as Party C’s
director.

 

		7.2	If Party A gives an Exercise Notice relating to the transfer of the Corporate Assets,

 

		7.2.1	Party C shall immediately procure the convening of a meeting of the shareholders assembly, the
adoption of a resolution of the shareholders assembly and the taking of other necessary measures to approve Party C’s transfer
of Assets to the Transferee at the Transfer Price;

 

    15

     

    

 

		7.2.2	Party C shall immediately enter into an asset transfer agreement with the Transferee to transfer
the Assets to the Transferee at the Transfer Price, and shall, as required by Party A and in accordance with PRC Laws, provide
necessary assistance (including providing or executing all relevant legal instruments, applying for and completing necessary government
approval or registration procedures, and undertaking all other relevant obligations) so that the Transferee is able to receive
the Assets, and shall ensure there is no Encumbrance on the Assets.

 

		7.3	Party C shall return to Party A considerations paid by reason of Party A’s purchase of all
or part of Party C’s assets (which constitute a portion of Party A’s revenue): 1) as the service charge under the Exclusive
Management Consulting and Technical Service Agreement; 2) with Party A’s prior approval, as a dividend distributed
to Party B, which will be returned to Party A in accordance with the Agreement; or 3) as follows: if Party B receives any of Party
C’s property or assets upon Party C’s liquidation or termination of operation, Party B will return such property or
asset to Party A in accordance with the Agreement.

 

		8.	Effect and Termination of Agreement

 

		8.1	The Agreement is executed on, and comes into effect as of, the date first indicated above. The
Agreement shall terminate upon the lawful transfer of all Corporate Equity or all Corporate Assets to the Transferee.

 

		8.2	Party B or Party C shall not terminate the Agreement early unless Party A is grossly negligent
or fraudulent towards Party B or Party C. Notwithstanding the foregoing, Party A may terminate the Agreement by a 30-day written
notice to Party B or Party C at any time.

 

		8.3	The Agreement may be terminated with the unanimous written consent of the Parties.

 

		8.4	The Parties’ rights and obligations under Sections 9 and 10 will survive the termination
of the Agreement.

 

		8.5	If Party B transfers all the Corporate Equity it holds to a third party with Party A’s prior
written consent, such Party B will no longer be a party hereto; provided that the rights and obligations of the other Parties hereunder
shall not be adversely affected.

 

    16

     

    

 

		9.	Liability for Breach and Indemnity

 

		9.1	If either Party (“Breaching Party”) violates any provision of the Agreement
or fails or delays to perform any obligation hereunder, it will be deemed to have breached the Agreement (“Breach”).
Any other Party (“Non-Breaching Party”) will have the right to require the Breaching Party to correct the Breach
or take relief measures within a reasonable period of time. If the Breaching Party fails to take relief measures which are necessary
or reasonably required by the Non-Breaching Party within 10 days after the receipt of a notice from the Non-Breaching Party or
any other period of time required by the Non-Breaching Party, the Non-Breaching Party shall be entitled to take the following actions
at its sole discretion:

 

		9.1.1	Where Party B or Party C is the Breaching Party, Party A shall be entitled to terminate the Agreement
and require the Breaching Party to indemnify for all direct and indirect losses (including the loss of expected profit) incurred
by Party A by reason of such Breach;

 

		9.1.2	If Party A is the Breaching Party, the Non-Breaching Party shall be entitled to require the Breaching
Party to indemnify for losses incurred by the Non-Breaching Party. Unless otherwise provided by laws, the Non-Breaching Party shall
under no circumstance have the right to terminate the Agreement.

 

		9.2	Party B and Party C shall severally and jointly hold harmless and indemnify Party A against and
from any direct and indirect loss (including loss of profit), damage, liability or expense (including lawyer’s fee) incurred
by Party A by reason of any litigation, arbitration, claim or other demand against Party A arising or resulting from Party A’s
execution or performance of the Agreement, unless such loss, damage, liability or expense is caused through Party A’s gross
negligence or willful act.

 

		10.	Governing Law and Dispute Resolution

 

		10.1	The execution, effect, construction, performance, modification and termination of, and the resolution
of disputes arising from or relating to, the Agreement shall be governed by laws of the People’s Republic of China.

 

    17

     

    

 

		10.2	Any dispute arising from the construction and performance of the Agreement shall be first resolved
by the Parties through friendly consultation. If such a dispute fails to be resolved within 30 days after a Party gives the other
Parties a written notice demanding resolution of the same through consultation, any Party may refer the dispute to China International
Economic and Trade Arbitration Commission for arbitration in accordance with its arbitration rules. The arbitral proceedings shall
be conducted in Shanghai and in Chinese. The arbitral award shall be final and binding upon the Parties.

 

		10.3	Where any dispute arises from the construction and performance of the Agreement or is pending arbitration,
the Parties shall continue to exercise other rights hereunder and perform other obligations hereunder except for the disputed matters.

 

		11.	Miscellaneous

 

		11.1	The Agreement is made in four copies, with each Party holding one copy, and all copies shall have
equal effect.

 

		11.2	The rights, powers or reliefs granted to a Party by any provision hereof shall not preclude other
rights, powers or reliefs granted to such Party by laws and other provisions hereof. In addition, a Party’s exercise of any
of its rights, powers and reliefs shall not prevent its exercise of any other right, power and relief.

 

		11.3	Any Party may waive its rights under any term or condition hereof; provided that such waiver shall
be in writing and signed by the Parties. A Party’s failure or delay to exercise any right, power or relief it has in accordance
with the Agreement or laws (“Due Right”) will not be deemed as its waiver of such Due Right; a Party’s waiver
or partial exercise of a certain Due Right will not prevent it from exercising such Due Right in any other manner or from exercising
other Due Rights.

 

		11.4	If any provision or provisions of the Agreement is held to be invalid, unlawful or unenforceable
in any respect in accordance with any laws or regulations, the validity, lawfulness or enforceability of the remaining provisions
of the Agreement shall not be affected or impaired in any respect. The Parties shall through consultation strive to replace those
invalid, unlawful or unenforceable provisions with valid provisions to the maximum extent permitted by laws and expected by the
Parties, which shall have economic effect as similar as possible to those invalid, unlawful or unenforceable provisions.

 

    18

     

    

 

		11.5	Any supplement to or modification of the Agreement must be in writing.

 

		11.6	Party A may assign its rights or obligations hereunder to a third party without the consent of
Party B or Party C; provided that Party A shall notify Party B and Party C of such assignment. Without Party A’s prior written
consent, Party B and Party C shall not assign any right or obligation hereunder to any third party. The successors or permitted
assignees, if any, of Party B and Party C shall continue to perform the obligations of Party B and Party C hereunder.

 

		11.7	The Agreement shall be binding upon the legal successors of the Parties.

 

		11.8	The Parties agree to promptly execute such documents and take such further actions as necessary
for the performance of the provisions hereof and for the purpose of the Agreement.

 

		11.9	Each Party shall be liable for any and all taxes, expenses and charges incurred by or imposed on
such Party in accordance with PRC Laws by reason of its preparation and execution of the Agreement and transfer agreements and
its consummation of transactions contemplated by the Agreement and transfer agreements.

 

		11.10	If at any time Party A deems that it is in violation of PRC Laws to continue to perform the Agreement
or to retain the Equity Option or Asset Option hereunder or to purchase the Corporate Equity or Corporate Assets in pursuance of
the Agreement by reason of any enactment or modification of PRC Laws, any change in the construction or application of PRC Laws,
or any change in the applicable registration procedures, Party B and Party C will, as required by Party A in writing, immediately
take all such actions and execute all such agreements and documents as required to maintain the Agreement and the Equity Option
and Asset Option as far as possible, and warrant that the Corporate Equity and Corporate Assets may be purchased in pursuance of
the provisions hereof or otherwise.

 

[The remainder of this page is intentionally
left blank]

 

    19

     

    

 

IN WITNESS WHEREOF,
the Parties have caused their authorized representatives to sign this Exclusive Call Option Agreement with immediate effect
on the date first indicated above.

 

 

     

     

    

 

IN WITNESS WHEREOF,
the Parties have caused their authorized representatives to sign this Exclusive Call Option Agreement with immediate effect
on the date first indicated above.

 

 

     

     

    

 

IN WITNESS WHEREOF,
the Parties have caused their authorized representatives to sign this Exclusive Call Option Agreement with immediate effect
on the date first indicated above.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}]]