Document:

Exhibit 10.1

 

Execution Version

 

LOCK-UP AGREEMENT

 

THIS LOCK-UP AGREEMENT
(this “Agreement”) is made and entered into as of February 16, 2021, by and among (i) JHD Technologies
Limited, a Cayman Islands company (“Pubco”), (ii) Navy Sail International Limited, a British
Virgin Islands company, in the capacity under the Business Combination Agreement (as defined below) as the Purchaser Representative
(including any successor Purchaser Representative appointed in accordance therewith, the “Purchaser Representative”),
and (iii) the undersigned (“Holder”). Any capitalized term used but not defined in this Agreement will
have the meaning ascribed to such term in the Business Combination Agreement.

 

WHEREAS,
on February 16, 2021, (i) East Stone Acquisition Corporation, a British Virgin Islands business company (the “Purchaser”),
(ii) the Purchaser Representative, (iii) Pubco, (iii) Yellow River MergerCo Limited, a British Virgin Islands company and
a wholly-owned subsidiary of Pubco (“Merger Sub”), (iv) JHD Holdings (Cayman) Limited, a Cayman
Islands company (the “Company”), (v) solely for purposes of Section 10.3 and Articles XII and XIII, as
applicable, Double Ventures Holdings Limited, a British Virgin Islands business company (the “Sponsor”)
and (vi) Holder, entered into that certain Business Combination Agreement (as amended from time to time in accordance with the
terms thereof, the “Business Combination Agreement”), pursuant to which, subject to the terms and conditions
thereof, among other matters, (a) Merger Sub will merge with and into Purchaser, with Purchaser continuing as the surviving entity
(the “Merger”), and as a result of which, (i) Purchaser will become a wholly-owned subsidiary of Pubco,
and (ii) each issued and outstanding security of Purchaser immediately prior to the effective time of the Merger will no longer
be outstanding and will automatically be cancelled, in exchange for the right of the holder thereof to receive a substantially
equivalent security of Pubco and (b) Pubco will acquire all of the issued and outstanding capital shares of the Company from Holder
and each of the holders of the Company’s capital shares that become parties to the Business Combination Agreement in exchange for
ordinary shares of Pubco (the “Share Exchange ”), subject to the withholding of the Escrow Shares being
deposited in the Escrow Account in accordance with the terms and conditions of the Business Combination Agreement and the Escrow
Agreement, all upon the terms and subject to the conditions set forth in the Business Combination Agreement and in accordance with
the provisions of applicable law;

 

WHEREAS,
upon the Closing of the transaction contemplated by the Business Combination Agreement (the “Closing”),
the Holder shall be the holder of the number of Pubco Ordinary Shares in such amounts as set forth underneath Holder’s name
on the signature page hereto; and

 

WHEREAS,
pursuant to the Business Combination Agreement, and in view of the valuable consideration to be received by Holder thereunder,
the parties desire to enter into this Agreement, pursuant to which the Exchange Shares to be issued to Holder (other than 2,000,000
of such Exchange Shares), including the Escrow Shares and Earnout Shares allocated to the Holder (all such securities, together
with any securities paid as dividends or distributions with respect to such securities or into which such securities are exchanged
or converted, the “Restricted Securities”) shall become subject to limitations on disposition as set
forth herein.

 

     

     

    

 

Execution Version

 

NOW, THEREFORE,
in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending
to be legally bound hereby, the parties hereby agree as follows:

 

		1.	Lock-Up Provisions.

 

(a) Holder
hereby agrees that commencing from the Closing, (x) with respect to 50% of its Restricted Securities, until the earlier of (i)
twelve (12) months after the Closing and (ii) the date on which the closing price of the Ordinary Shares equals or exceeds $12.50
per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within
any 30-trading day period commencing after the six (6) month anniversary of the Closing; and (y) with respect to the remaining
50% of their Restricted Securities, twelve (12) months after the date of the consummation of the Closing, or earlier, in either
case, if, subsequent to the Closing, Pubco consummates a subsequent liquidation, merger, stock exchange or other similar transaction
with an unaffiliated third party which results in all of Pubco’s shareholders having the right to exchange their Ordinary
Shares for cash, securities or other property (such periods described in clauses (x) and (y), the “Lock-Up Periods”)
it will not: (i) lend, offer, pledge (except as provided herein below), hypothecate, encumber, donate, assign, sell, contract to
sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase,
or otherwise transfer or dispose of, directly or indirectly, any Restricted Securities, (ii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of the Restricted Securities, or
(iii) publicly disclose the intention to do any of the foregoing, whether any such transaction described in clauses (i), (ii) or
(iii) above is to be settled by delivery of Restricted Securities or other securities, in cash or otherwise (any of the foregoing
described in clauses (i), (ii) or (iii), a “Prohibited Transfer”). The foregoing sentence shall not apply
to the transfer of any or all of the Restricted Securities owned by Holder (other than Escrow Shares until such Escrow Shares are
disbursed to Holder from the Escrow Account in accordance with the terms and conditions of the Business Combination Agreement and
the Escrow Agreement) (I) by gift, will or intestate succession upon the death of Holder, (II) to any Permitted Transferee (defined
below), (III) pursuant to a court order or settlement agreement related to the distribution of assets in connection with the dissolution
of marriage or civil union or (IV) to Pubco in accordance with the requirements of the Business Combination Agreement; provided,
however, that in any of cases (I), (II) or (III) it shall be a condition to such transfer that the transferee executes and delivers
to Pubco and the Purchaser Representative an agreement stating that the transferee is receiving and holding the Restricted Securities
subject to the provisions of this Agreement applicable to Holder, and there shall be no further transfer of such Restricted Securities
except in accordance with this Agreement. As used in this Agreement, the term “Permitted Transferee”
shall mean: (A) the members of Holder’s immediate family (for purposes of this Agreement, “immediate family”
shall mean with respect to any natural person, any of the following: such person’s spouse, the siblings of such person and
his or her spouse, and the direct descendants and ascendants (including adopted and step children and parents) of such person and
his or her spouses and siblings), (B) any trust for the direct or indirect benefit of Holder or the immediate family of Holder,
(C) if Holder is a trust, to the trustor or beneficiary of such trust or to the estate of a beneficiary of such trust, (D) if Holder
is an entity, as a distribution to limited partners, shareholders, members of, or owners of similar equity interests in Holder
or (E) to any affiliate of Holder. Holder further agrees to execute such agreements as may be reasonably requested by Pubco or
the Purchaser Representative that are consistent with the foregoing or that are necessary to give further effect thereto. Notwithstanding
the foregoing, the board of directors of Pubco may, in its sole discretion, waive the application the restrictions in this Section
1 with respect to up to 10% of the Restricted Securities of the Holder.

 

    2

     

    

 

Execution Version

 

(b) Holder
further acknowledges and agrees that it shall not be permitted to engage in any Prohibited Transfer with respect to any Escrow
Shares until such Escrow Shares are disbursed to Holder from the Escrow Account in accordance with the terms and conditions of
the Business Combination Agreement and the Escrow Agreement.

 

(c) If
any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited Transfer shall
be null and void ab initio, and Pubco shall refuse to recognize any such purported transferee of the Restricted Securities as one
of its equity holders for any purpose. In order to enforce this Section 1, Pubco may impose stop-transfer instructions with
respect to the Restricted Securities of Holder (and Permitted Transferees and assigns thereof) until the end of the applicable
Lock-Up Period solely to the extent that such Restricted Securities remain subject to the restrictions in Section 1(a).

 

(c) During
the applicable Lock-Up Period, each certificate evidencing such Restricted Security shall be stamped or otherwise imprinted with
a legend in substantially the following form, in addition to any other applicable legends:

 

“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS OF FEBRUARY 16, 2021, BY AND
AMONG THE ISSUER OF SUCH SECURITIES (THE “ISSUER”), A CERTAIN REPRESENTATIVE OF THE ISSUER NAMED THEREIN AND THE ISSUER’S
SECURITY HOLDER NAMED THEREIN, AS AMENDED. A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE
HOLDER HEREOF UPON WRITTEN REQUEST.”

 

Accordingly, if the Lock-Up Period described
in clause (x) of Section 1(a) expires before the Lock-Up Period described in clause (y) of Section 1(a), then certificates representing
50% of the Restricted Securities shall be issued without the legend set forth above.

 

(d) For
the avoidance of any doubt, Holder shall retain all of its rights as a shareholder of Pubco with respect to the Restricted Securities
during the period when such Restricted Securities are subject to Section 1(a), including the right to vote any Restricted
Securities, but subject to the obligations under the Business Combination Agreement and the Escrow Agreement.

 

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Execution Version

 

		2.	Miscellaneous.

 

(a) Termination
of Business Combination Agreement. This Agreement shall be binding upon Holder upon Holder’s execution and delivery of
this Agreement, but this Agreement shall only become effective upon the Closing. Notwithstanding anything to the contrary contained
herein, in the event that the Business Combination Agreement is terminated in accordance with its terms prior to the Closing, this
Agreement shall automatically terminate and become null and void, and the parties shall not have any rights or obligations hereunder.

 

(b) Binding
Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties
hereto and their respective permitted successors and assigns. This Agreement and all obligations of Holder are personal to Holder
and may not be transferred or delegated by Holder at any time. Pubco may freely assign any or all of its rights under this Agreement,
in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset sale or otherwise) without obtaining
the consent or approval of Holder (but from and after the Closing, the consent of the Purchaser Representative shall be required).
If the Purchaser Representative is replaced in accordance with the terms of the Business Combination Agreement, the replacement
Purchaser Representative shall automatically become a party to this Agreement as if it were the original Purchaser Representative
hereunder.

 

(c) Third
Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the
transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person
or entity that is not a party hereto or thereto or a successor or permitted assign of such a party.

 

(d) Governing
Law; Jurisdiction. This Agreement and any dispute or controversy arising out of or relating to this Agreement shall be governed
by and construed in accordance with the laws of the State of New York, without regard to the conflict of law principles thereof.
All Actions arising out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court
located in New York, New York (or in any appellate courts thereof) (the “Specified Courts”). Each party
hereto hereby (i) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising out of or
relating to this Agreement brought by any party hereto and (ii) irrevocably waives, and agrees not to assert by way of motion,
defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts,
that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that the
venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or by any
Specified Court. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents to the service of the summons and
complaint and any other process in any other action or proceeding relating to the transactions contemplated by this Agreement,
on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable address set
forth in Section 2(f). Nothing in this Section 2(d) shall affect the right of any party to serve legal process in
any other manner permitted by applicable law.

 

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Execution Version

 

(e) WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND
(ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 2(e).

 

(e) Interpretation.
The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting
this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural
and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words
“without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other
words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular
section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties have
participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

 

(f) Notices.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) two
(2) Business Days after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) five (5) Business
Days after being mailed, if sent by a nationally recognized non-overnight courier service, in each case to the applicable party
at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	
        If to the Purchaser Representative,
        to:

         

        Navy Sail International Limited

        19/F On Hong Commercial Building, 145

        Hennessy Road, Wanchai, Hong Kong

        Attn:
        Chunyi (Charlie) Hao

        Telephone No.: +86 186 1006 0879

        Email: hao.chunyi@foxmail.com

         

         
	
        With a copy to (which shall
        not constitute notice):

         

        Ellenoff Grossman & Schole
        LLP

        1345 Avenue of the Americas, 11th
        Floor

        New York, New York 10105

        Attn: Barry I. Grossman, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email: bigrossman@egsllp.com

         

 

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Execution Version

 

	
         

        If to Pubco,, to:

        JHD Holdings Limited

        14/F Golden Centre

        188 Des Voeux Road Central

        Hong Kong

        Attn: Sherrie Choo

        Facsimile No.: +852-2850-4090

        Telephone No.: +852-3760-3913

        Email: schou@tridenttrust.com
	
         

        with a copy (which will not constitute notice) to:

        Baker & McKenzie LLP 

        452 Fifth Avenue 

        New York, NY 10018

        Attn: Mark L. Mandel, Esq.

        Facsimile No.: (212) 310-1736

        Telephone No.: (212) 626-4527

        Email: Mark.Mandel@bakermckenzie.com

         

	
         

        If to Holder, to:

        the address set forth below Holder’s
        name on the signature page to this Agreement
	
         

        with a copy (which will not
        constitute notice) to:

        [

         

         

        ]

 

(g) Amendments
and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally
or in a particular instance, and either retroactively or prospectively) only with the written consent of Pubco, the Purchaser Representative
and Holder. No failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or
exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed
as a further or continuing waiver of any such term, condition, or provision.

 

(h) Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall
be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable,
and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby
nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties will substitute for any invalid,
illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable,
the intent and purpose of such invalid, illegal or unenforceable provision.

 

(i) Specific
Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event
of a breach of this Agreement by Holder, money damages will be inadequate and Pubco will have no adequate remedy at law, and agrees
that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by Holder in accordance
with their specific terms or were otherwise breached. Accordingly, each of Pubco and the Purchaser Representative shall be entitled
to an injunction or restraining order to prevent breaches of this Agreement by Holder and to enforce specifically the terms and
provisions hereof, without the requirement to post any bond or other security or to prove that money damages would be inadequate,
this being in addition to any other right or remedy to which such party may be entitled under this Agreement, at law or in equity.

 

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Execution Version

 

(j) Entire
Agreement. This Agreement constitutes the full and entire understanding and agreement among the parties with respect to the subject
matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly
canceled; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations of the parties
under the Business Combination Agreement or any Ancillary Document. Notwithstanding the foregoing, nothing in this Agreement shall
limit any of the rights or remedies of Pubco and the Purchaser Representative or any of the obligations of Holder under any other
agreement between Holder and Pubco or the Purchaser Representative or any certificate or instrument executed by Holder in favor
of Pubco or the Purchaser Representative, and nothing in any other agreement, certificate or instrument shall limit any of the
rights or remedies of Pubco or the Purchaser Representative or any of the obligations of Holder under this Agreement.

 

(k) Further
Assurances. From time to time, at another party’s request and without further consideration (but at the requesting party’s
reasonable cost and expense), each party shall execute and deliver such additional documents and take all such further action as
may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(l) Counterparts;
Facsimile. This Agreement may also be executed and delivered by facsimile signature or by email in portable document format in
two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument.

 

{Remainder of Page Intentionally Left
Blank; Signature Pages Follow}

 

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IN WITNESS WHEREOF, the parties have executed this Lock-Up
Agreement as of the date first written above.

 

	 	Pubco:
	 	 	 
	 	JHD TECHNOLOGIES LIMITED
	 	 	 
	 	By:	/s/ Jun Wang
	 	Name: 	Jun Wang
	 	Title:	Director

 

{Additional Signatures on the Following
Pages}

 

(Signature Page to Lock-Up Agreement)

 

     

     

    

 

IN WITNESS WHEREOF, the parties have executed this Lock-Up
Agreement as of the date first written above.

 

	 	The Purchaser Representative:
	 	 	 
	 	NAVY SAIL INTERNATIONAL LIMITED
	 	 	 
	 	By:	/s/ Chunyi (Charlie) Hao
	 	Name: 	Chunyi (Charlie) Hao
	 	Title:	Director

 

{Additional Signatures on the Following
Pages}

 

(Signature Page to Lock-Up Agreement)

 

     

     

    

 

IN WITNESS WHEREOF, the parties
have executed this Lock-Up Agreement as of the date first written above.

 

	Holder:	 
	 	 	 
	Name of Holder:	 
	 	 	 
	YELLOW RIVER (CAYMAN) LIMITED	 
	 	 	 
	By:	/s/ Alan Martin Clingman	 
	Name: 	Alan Martin Clingman	 
	Title:	Director	 
	 	 	 
	Number and Ordinary Shares of Pubco Owned:	 
	 	 	 
	Pubco Ordinary Shares:	 
	 	 
	 	 	 
	Address for Notice:	 
	 	 	 
	Address:	 	 
	 	 
	 	 	 
	Facsimile No:	 
	 	 
	 	 	 
	Telephone No:	 
	 	 
	 	 	 
	Email:	 	 
	 	 

 

(Signature Page to Lock-Up Agreement)Exhibit 10.2

 

Execution Version

 

NON-COMPETITION AND NON-SOLICITATION
AGREEMENT

 

THIS NON-COMPETITION
AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as of February 16,
2021, by the undersigned security holder of the Company (as defined below) (the “Subject Party”) in favor
of and for the benefit of) JHD Technologies Limited, a Cayman Islands company (“Pubco”), East
Stone Acquisition Corporation, a British Virgin Islands company (together with its successors, including the Surviving Corporation
(as defined in the Business Combination Agreement) “Purchaser”), JHD Holdings (Cayman) Limited, a
Cayman Islands company (the “Company”), and each of Pubco’s, Purchaser’s and/or the Company’s
present and future Affiliates, successors and direct and indirect Subsidiaries (including the Company) (collectively with Pubco,
Purchaser and the Company, the “Covered Parties”). Any capitalized term used, but not defined in this
Agreement will have the meaning ascribed to such term in the Business Combination Agreement.

 

WHEREAS, on February
16, 2021, (i) the Subject Party, (ii) Purchaser, (iii) Navy Sail International Limited, a British Virgin Islands company,
in the capacity under the Business Combination Agreement as the Purchaser Representative, (iv) Pubco, (v) Yellow River MergerCo
Limited, a British Virgin Islands company and a wholly-owned subsidiary of Pubco (“Merger Sub”),
(vi) solely for purposes of Section 10.3 and Articles XII and XIII, as applicable, Double Ventures Holdings Limited, a British
Virgin Islands business company (the “Sponsor”) and (vii) the Company, entered into that certain Business
Combination Agreement (as it may be amended after the date hereof, the “Business Combination Agreement”),
pursuant to which, subject to the terms and conditions thereof, among other matters, (a) Merger Sub will merge with and into the
Purchaser, with the Purchaser continuing as the surviving entity (the “Merger”), and as a result of which
(i) Purchaser will become a wholly-owned subsidiary of Pubco and (ii) each issued and outstanding security of Purchaser immediately
prior to the Effective Time shall no longer be outstanding and will automatically be cancelled, in exchange for the right of the
holder thereof to receive a substantially equivalent security of Pubco, and (b) Pubco will acquire all of the issued and outstanding
capital shares of the Company from the Subject Party and the other holders of the Company’s shares who become party to the Business
Combination Agreement after the date hereof in exchange for ordinary shares of Pubco (the “Share Exchange”),
subject to the withholding of the Escrow Shares being deposited in the Escrow Account in accordance with the terms and conditions
of the Business Combination Agreement and the Escrow Agreement, all upon the terms and subject to the conditions set forth in the
Business Combination Agreement and in accordance with the provisions of applicable law;

 

WHEREAS, the Company
(and after the Share Exchange, Pubco), directly and indirectly through its Subsidiaries, engages in the business of building a
nationwide business-to-business fast-moving consumer goods distribution network, with complementary financial services, for retail
stores in the PRC’s lower tier market (the “Business”);

 

WHEREAS, in connection
with, and as a condition to the execution and delivery of the Business Combination Agreement and the consummation of the Merger,
the Share Exchange and the other transactions contemplated thereby (collectively, the “Transactions”),
and to enable Pubco and Purchaser to secure more fully the benefits of the Transactions, including the protection and maintenance
of the goodwill and confidential information of the Company, Pubco and their respective Subsidiaries, each of Pubco and Purchaser
has required that the Subject Party enter into this Agreement;

 

WHEREAS, the Subject
Party is entering into this Agreement in order to induce Pubco, Purchaser and the Company to enter into the Business Combination
Agreement and consummate the Transactions, pursuant to which the Subject Party will directly or indirectly receive a material benefit;
and

 

WHEREAS, the Subject
Party, as a stockholder of the Company (and after the Share Exchange, Pubco), and its Restricted Affiliates (as defined below)
have contributed to the value of the Company and its Subsidiaries and have obtained extensive and valuable knowledge and confidential
information concerning the business of the Company and its Subsidiaries (and after the Share Exchange, Pubco).

 

     

     

    

 

NOW, THEREFORE, in
order to induce Pubco, Purchaser and the Company to enter into the Business Combination Agreement and consummate the Transactions,
and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Subject Party hereby
agrees as follows:

 

		1.	Restriction on Competition.

 

(a) Restriction.
The Subject Party hereby agrees that during the period from the Closing until the three (3) year anniversary of the Closing Date
(such period, the “Restricted Period”) and within the People’s Republic of China (the “Territory”),
the Subject Party will not, and will cause its Restricted Affiliates not to(without the prior written consent of Pubco, which may
be withheld in its sole discretion), directly or indirectly engage in the Business (other than through a Covered Party) or own,
manage, finance or control, or participate in the ownership, management, financing or control of, or become engaged or serve as
an officer, director, member, partner of, a business or entity (other than a Covered Party) that engages in the Business (a “Competitor”).
Notwithstanding the foregoing, the Subject Party and its Restricted Affiliates may own investments of no more than five percent
(5%) of any class of outstanding equity interests in a Competitor that is publicly traded, so long as the Subject Party and its
Restricted Affiliates and their immediate family members are not directly or indirectly involved in the management or control of
such Competitor (“Permitted Ownership”). For purposes of this Agreement, “Restricted Affiliates”
means each of the following: (a) any Subsidiaries of the Subject Party other than the Covered Parties, and (b) each of Alan Clingman
and Vladimir Leyviman and their Affiliates.

 

(b) Acknowledgment.
The Subject Party acknowledges and agrees, based upon the advice of legal counsel, that (i) the Subject Party and its Restricted
Affiliates possesses knowledge of confidential information of the Covered Parties and the Business, (ii) the Subject Party’s
execution of this Agreement is a material inducement to Purchaser and Pubco to enter into the Business Combination Agreement and
consummate the Transactions and to realize the goodwill of the Company and its Subsidiaries, for which the Subject Party and/or
its Restricted Affiliates will receive a substantial direct or indirect financial benefit, and that Purchaser and Pubco would not
have entered into the Business Combination Agreement or consummated the Transactions but for the Subject Party’s agreements
set forth in this Agreement; (iii) it would impair the goodwill of the Covered Parties and reduce the value of the assets of the
Covered Parties and cause serious and irreparable injury if the Subject Party and its Restricted Affiliates were to use their ability
and knowledge by engaging in the Business in competition with a Covered Party, and/or to otherwise breach the obligations contained
herein and that the Covered Parties would not have an adequate remedy at law because of the unique nature of the Business, (iv)
the Subject Party and its Restricted Affiliates have no intention of engaging in the Business (other than through the Covered Parties)
during the Restricted Period other than through Permitted Ownership, (v) the relevant public policy aspects of restrictive covenants,
covenants not to compete and non-solicitation provisions have been discussed, and every effort has been made to limit the restrictions
placed upon the Subject Party to those that are reasonable and necessary to protect the Covered Parties’ legitimate interests,
(vi) the Covered Parties conduct and intend to conduct the Business everywhere in the Territory and compete with other businesses
that are or could be located in any part of the Territory, (vii) the foregoing restrictions on competition are fair and reasonable
in type of prohibited activity, geographic area covered, scope and duration, (viii) the consideration provided to the Subject Party
under this Agreement and the Business Combination Agreement is not illusory, and (ix) such provisions do not impose a greater restraint
than is necessary to protect the goodwill or other business interests of the Covered Parties.

 

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2. No
Solicitation.

 

(a) No
Solicitation of Employees. The Subject Party agrees that, during the Restricted Period, the Subject Party and its Restricted
Affiliates will not, without the prior written consent of Pubco (which may be withheld in its sole discretion), either on its own
behalf or on behalf of any other Person (other than, if applicable, a Covered Party in the performance of its duties on behalf
of the Covered Parties), directly or indirectly: (i) solicit, induce, encourage or otherwise knowingly cause (or attempt to do
any of the foregoing) any Covered Personnel to leave the service (whether as an employee, consultant or independent contractor)
of any Covered Party; or (ii) in any way interfere with or attempt to interfere with the relationship between any Covered Personnel
and any Covered Party; provided, however, the Subject Party and its Affiliates will not be deemed to have violated
this Section 0 if any Covered Personnel voluntarily and independently solicits an offer of employment from the Subject Party
or his or her Affiliate (or other Person whom any of them is acting on behalf of) by responding to a general advertisement or solicitation
program conducted by or on behalf of the Subject Party or his or her Affiliate (or such other Person whom any of them is acting
on behalf of) that is not targeted at such Covered Personnel or Covered Personnel generally. For purposes of this Agreement, “Covered
Personnel” shall mean any Person who is or was an executive of the Covered Parties as of the date of the relevant
act prohibited by this Section 0 or during the six (6) month period preceding such date.

 

(b) Non-Solicitation
of Customers and Suppliers. The Subject Party agrees that, during the Restricted Period, the Subject Party and his or her Affiliates
will not, without the prior written consent of Pubco (which may be withheld in its sole discretion), individually or on behalf
of any other Person (other than, if applicable, a Covered Party in the performance of its duties on behalf of the Covered Parties),
directly or indirectly: (i) solicit, induce, encourage or otherwise knowingly cause (or attempt to do any of the foregoing) any
Covered Customer (as defined below) to (A) cease being, or not become, a client or customer of any Covered Party with respect to
the Business or (B) reduce the amount of business of such Covered Customer with any Covered Party, or otherwise alter such business
relationship in a manner adverse to any Covered Party, in either case, with respect to or relating to the Business; (ii) interfere
with or disrupt (or attempt to interfere with or disrupt) the contractual relationship between any Covered Party and any Covered
Customer; (iii) divert any business with any Covered Customer relating to the Business from a Covered Party; (iv) solicit for business,
provide services to, engage in or do business with, any Covered Customer for products or services that are part of the Business;
or (v) interfere with or disrupt (or attempt to interfere with or disrupt), any Person that was a vendor, supplier, distributor,
agent or other service provider of a Covered Party at the time of such interference or disruption, for a purpose competitive with
a Covered Party as it relates to the Business. For purposes of this Agreement, a “Covered Customer” shall
mean any Person who is an actual customer or client (or prospective customer or client with whom a Covered Party actively marketed
or made or taken specific action to make a proposal) of a Covered Party as of the date of the relevant act prohibited by this Section
0, or during the six (6) month period preceding such date.

 

(c) Non-Disparagement.
The Subject Party agrees that during the Restricted Period, the Subject Party and his or her Affiliates will not, directly or indirectly
engage in any conduct that involves the making in public or publishing (including through electronic mail distribution or online
social media) of any written or oral statements or remarks (including the repetition or distribution of derogatory rumors, allegations,
negative reports or comments) that are materially disparaging, deleterious or damaging to the integrity, reputation or good will
of one or more Covered Parties or their respective management, officers, employees, independent contractors or consultants. Notwithstanding
the foregoing, subject to Section 0 below, the provisions of this Section 0 shall not restrict the Subject Party
from providing truthful testimony or information in response to a subpoena or investigation by a Governmental Authority or in connection
with any legal action by the Subject Party or his or her Affiliate against any Covered Party under this Agreement, the Business
Combination Agreement or any other Ancillary Document that is asserted by the Subject Party or his or her Affiliate in good faith.

 

    3

     

    

 

3. Confidentiality.
From and after the Closing Date, the Subject Party will, and will cause its Representatives to, keep confidential and not (except,
if applicable, in the performance of its duties on behalf of the Covered Parties) directly or indirectly use, disclose, reveal,
publish, transfer or provide access to, any and all Covered Party Information without the prior written consent of Pubco (which
may be withheld in its sole discretion). As used in this Agreement, “Covered Party Information” means
all material and information, affairs and assets of any Covered Party, including material and information that concerns or relates
to such Covered Party’s bidding and proposal, technical information, computer hardware or software, administrative, management,
operational, data processing, financial, marketing, sales, human resources, business development, planning and/or other business
activities, regardless of whether such material and information is maintained in physical, electronic, or other form, that is:
(A) gathered, compiled, generated, produced or maintained by such Covered Party through its Representatives, or provided to such
Covered Party by its suppliers, service providers or customers; and (B) intended and maintained by such Covered Party or its Representatives,
suppliers, service providers or customers to be kept in confidence. The obligations set forth in this Section 0 will not
apply to any Covered Party Information where the Subject Party can prove that such material or information: (i) is known or available
through other lawful sources not bound by a confidentiality agreement with, or other confidentiality obligation to, any Covered
Party; (ii) is or becomes publicly known through no violation of this Agreement or other non-disclosure obligation of the Subject
Party or any of its Representatives; (iii) is already in the possession of the Subject Party at the time of disclosure through
lawful sources not bound by a confidentiality agreement or other confidentiality obligation as evidenced by the Subject Party’s
documents and records; or (iv) is required to be disclosed pursuant to an order of any administrative body or court of competent
jurisdiction (provided that (A) the applicable Covered Party is given reasonable prior written notice, (B) the Subject Party cooperates
(and causes its Representatives to cooperate) with any reasonable request of any Covered Party to seek to prevent or narrow such
disclosure and (C) if after compliance with clauses (A) and (B) such disclosure is still required, the Subject Party and its Representatives
only disclose such portion of the Covered Party Information that is expressly required by such order, as it may be subsequently
narrowed).

 

4. Representations
and Warranties. The Subject Party hereby represents and warrants, to and for the benefit of the Covered Parties as of the date
of this Agreement and as of the Closing Date, that: (a) the Subject Party has full power and capacity to execute and deliver, and
to perform all of the Subject Party’s obligations under, this Agreement; and (b) neither the execution and delivery of this
Agreement nor the performance of the Subject Party’s obligations hereunder will result directly or indirectly in a violation
or breach of any agreement or obligation by which the Subject Party is a party or otherwise bound. By entering into this Agreement,
the Subject Party certifies and acknowledges that the Subject Party has carefully read all of the provisions of this Agreement,
and that the Subject Party voluntarily and knowingly enters into this Agreement.

 

5. Remedies.
The covenants and undertakings of the Subject Party contained in this Agreement relate to matters which are of a special, unique
and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury to the Covered Parties,
the amount of which may be impossible to estimate or determine and which cannot be adequately compensated. The Subject Party agrees
that, in the event of any breach or threatened breach by the Subject Party of any covenant or obligation contained in this Agreement,
each applicable Covered Party will be entitled to obtain the following remedies (in addition to, and not in lieu of, any other
remedy at law or in equity or pursuant to the Business Combination Agreement or the other Ancillary Documents that may be available
to the Covered Parties, including monetary damages), and a court of competent jurisdiction may award: (i) an injunction, restraining
order or other equitable relief restraining or preventing such breach or threatened breach, without the necessity of proving actual
damages or that monetary damages would be insufficient, which the Subject Party expressly waives; and (ii) recovery of the Covered
Party’s attorneys’ fees and costs incurred in enforcing the Covered Party’s rights under this Agreement. The
Subject Party hereby consents to the award of any of the above remedies to the applicable Covered Party in connection with any
such breach or threatened breach. The Subject Party hereby acknowledges and agrees that in the event of any breach of this Agreement,
any value attributed or allocated to this Agreement (or any other non-competition agreement with the Subject Party) under or in
connection with the Business Combination Agreement shall not be considered a measure of, or a limit on, the damages of the Covered
Parties.

 

    4

     

    

 

6. Survival
of Obligations. The expiration of the Restricted Period will not relieve the Subject Party of any obligation or liability arising
from any breach by the Subject Party of this Agreement during the Restricted Period. The Subject Party further agrees that the
time period during which the covenants contained in Section 0, 0 and 3 and of this Agreement will be effective
will be computed by excluding from such computation any time during which the Subject Party is in violation of any provision of
such Sections.

 

7. Miscellaneous.

 

(a) Notices.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) two
(2) Business Days after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) five (5) Business
Days after being mailed, if sent by a nationally recognized non-overnight courier service, in each case to the applicable Party
at the following addresses (or at such other address for a Party as shall be specified by like notice):

	
         

        If to Purchaser prior to the Closing, to:

        East Stone Acquisition Corp.

        25 Mall Road, Suite 330

        Burlington, MA 01803

        Attn: Sherman Xiaoma Lu, Chief Executive Officer

        Telephone No.: 781 202 9128

        Email: sherman@estonecapital.com
	
        with a copy (that will not constitute notice)
        to: 

        Ellenoff Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105, USA

        Attn:Barry I. Grossman, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email:bigrossman@egsllp.com

	
        If to the Company or Pubco prior to the
        Closing, to:

        JHD Holdings Limited

        14/F Golden Centre

        188 Des Voeux Road Central

        Hong Kong

        Attn: Sherri Chou

        Facsimile No.: +852-2850-4090

        Telephone No.: +852-3760-3913

        Email: schou@tridenttrust.com

         
	
        with a copy (that will not constitute notice)
        to: 

        Baker & McKenzie LLP 

        452 Fifth Avenue 

        New York, NY 10018

        Attn: Mark L. Mandel, Esq.

        Facsimile No.: (212) 310-1736

         

         

 

    5

     

    

 

	
        If to Purchaser, Pubco, the Company or
        any other Covered Party from or after the Closing, to:

        JHD Holdings Limited

        14/F Golden Centre

        188 Des Voeux Road Central

        Hong Kong

        Attn: Sherri Chou

        Facsimile No.: +852-2850-4090

        Telephone No.: +852-3760-3913

        Email: schou@tridenttrust.com

         
	
        with a copy (that will not constitute notice)
        to: 

        Baker & McKenzie LLP 

        452 Fifth Avenue 

        New York, NY 10018

        Attn: Mark L. Mandel, Esq.

        Facsimile No.: (212) 310-1736

         

         

	If to the Subject Party, to: 

the address below the Subject Party’s name on the signature page to this Agreement.

 

(b) Integration
and Non-Exclusivity. This Agreement, the Business Combination Agreement and the other Ancillary Documents contain the entire
agreement between the Subject Party and the Covered Parties concerning the subject matter hereof. Notwithstanding the foregoing,
the rights and remedies of the Covered Parties under this Agreement are not exclusive of or limited by any other rights or remedies
which they may have, whether at law, in equity, by contract or otherwise, all of which will be cumulative (and not alternative).
Without limiting the generality of the foregoing, the rights and remedies of the Covered Parties, and the obligations and liabilities
of the Subject Party, under this Agreement, are in addition to their respective rights, remedies, obligations and liabilities (i)
under the laws of unfair competition, misappropriation of trade secrets, or other requirements of statutory or common law, or any
applicable rules and regulations and (ii) otherwise conferred by contract, including the Business Combination Agreement and any
other written agreement between the Subject Party or its Restricted Affiliate and any of the Covered Parties. Nothing in the Business
Combination Agreement will limit any of the obligations, liabilities, rights or remedies of the Subject Party or the Covered Parties
under this Agreement, nor will any breach of the Business Combination Agreement or any other agreement between the Subject Party
or its Restricted Affiliate and any of the Covered Parties limit or otherwise affect any right or remedy of the Covered Parties
under this Agreement.

 

(c) Severability;
Reformation. Each provision of this Agreement is separable from every other provision of this Agreement. If any provision of
this Agreement is found or held to be invalid, illegal or unenforceable, in whole or in part, by a court of competent jurisdiction,
then (i) such provision will be deemed amended to conform to applicable laws so as to be valid, legal and enforceable to the fullest
possible extent, (ii) the invalidity, illegality or unenforceability of such provision will not affect the validity, legality or
enforceability of such provision under any other circumstances or in any other jurisdiction, and (iii) the invalidity, illegality
or unenforceability of such provision will not affect the validity, legality or enforceability of the remainder of such provision
or the validity, legality or enforceability of any other provision of this Agreement. The Subject Party and the Covered Parties
will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far
as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision. Without limiting
the foregoing, if any court of competent jurisdiction determines that any part hereof is unenforceable because of the duration,
geographic area covered, scope of such provision, or otherwise, such court will have the power to reduce the duration, geographic
area covered or scope of such provision, as the case may be, and, in its reduced form, such provision will then be enforceable.
The Subject Party will, at a Covered Party’s request, join such Covered Party in requesting that such court take such action.

 

    6

     

    

 

(d) Amendment;
Waiver. This Agreement may not be amended or modified in any respect, except by a written agreement executed by the Subject
Party, Pubco, Purchaser and, from and after the Closing, the Purchaser Representative (or their respective permitted successors
or assigns). No waiver will be effective unless it is expressly set forth in a written instrument executed by the waiving party
(and from and after the Closing if such waiving party is a Covered Party, the Purchaser Representative) and any such waiver will
have no effect except in the specific instance in which it is given. Any delay or omission by a party in exercising its rights
under this Agreement, or failure to insist upon strict compliance with any term, covenant, or condition of this Agreement will
not be deemed a waiver of such term, covenant, condition or right, nor will any waiver or relinquishment of any right or power
under this Agreement at any time or times be deemed a waiver or relinquishment of such right or power at any other time or times.

 

(e) Dispute
Resolution. Any and all disputes, controversies and claims (other than applications for a temporary restraining order, preliminary
injunction, permanent injunction or other equitable relief or application for enforcement of a resolution under this Section
0 arising out of, related to, or in connection with this Agreement or the transactions contemplated hereby (a “Dispute”)
shall be governed by this Section 0. A party must, in the first instance, provide written notice of any Disputes to the
other parties subject to such Dispute, which notice must provide a reasonably detailed description of the matters subject to the
Dispute. The parties involved in such Dispute shall seek to resolve the Dispute on an amicable basis within twenty (20) Business
Days of the notice of such Dispute being received by such other parties subject to such Dispute (the “Resolution Period”);
provided, that if any Dispute would reasonably be expected to have become moot or otherwise irrelevant if not decided within
sixty (60) days after the occurrence of such Dispute, then there shall be no Resolution Period with respect to such Dispute. Any
Dispute that is not resolved during the Resolution Period may immediately be referred to and finally resolved by arbitration pursuant
to the then-existing Expedited Procedures (as defined in the AAA Procedures) of the Commercial Arbitration Rules (the “AAA
Procedures”) of the AAA. Any party involved in such Dispute may submit the Dispute to the AAA to commence the proceedings
after the Resolution Period. To the extent that the AAA Procedures and this Agreement are in conflict, the terms of this Agreement
shall control. The arbitration shall be conducted by one arbitrator nominated by the AAA promptly (but in any event within five
(5) Business Days) after the submission of the Dispute to the AAA and reasonably acceptable to each party subject to the Dispute,
which arbitrator shall be a commercial lawyer with substantial experience arbitrating disputes under acquisition agreements. The
arbitrator shall accept his or her appointment and begin the arbitration process promptly (but in any event within five (5) Business
Days) after his or her nomination and acceptance by the parties subject to the Dispute. The proceedings shall be streamlined and
efficient. The arbitrator shall decide the Dispute in accordance with the substantive law of the state of New York. Time is of
the essence. Each party subject to the Dispute shall submit a proposal for resolution of the Dispute to the arbitrator within twenty
(20) days after confirmation of the appointment of the arbitrator. The arbitrator shall have the power to order any party to do,
or to refrain from doing, anything consistent with this Agreement, the Ancillary Documents and applicable Law, including to perform
its contractual obligation(s); provided, that the arbitrator shall be limited to ordering pursuant to the foregoing power
(and, for the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to comply with only one or the other
of the proposals. The arbitrator’s award shall be in writing and shall include a reasonable explanation of the arbitrator’s
reason(s) for selecting one or the other proposal. The seat of arbitration shall be in County of New York, State of New York. The
language of the arbitration shall be English.

 

(f) Governing
Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the Laws of the State of
New York without regard to the conflict of laws principles thereof. Subject to Section 0, all Actions arising out of or
relating to this Agreement shall be heard and determined exclusively in any state or federal court located in New York, New York
(or in any appellate courts thereof) (the “Specified Courts”). Subject to Section 0, each party
hereto hereby (a) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising out of or
relating to this Agreement brought by any party hereto, (b) irrevocably waives, and agrees not to assert by way of motion, defense
or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that
its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that the venue
of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or by any Specified
Court and (c) waives any bond, surety or other security that might be required of any other party with respect thereto. Each party
agrees that a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by Law or in equity. Each party irrevocably consents to the service of the summons and complaint
and any other process in any other action or proceeding relating to the transactions contemplated by this Agreement, on behalf
of itself, or its property, by personal delivery of copies of such process to such party at the applicable address set forth in
Section 0. Nothing in this Section 0 shall affect the right of any party to serve legal process in any other manner
permitted by Law.

 

    7

     

    

 

(g) WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 0. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS
SECTION 0 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

 

(h) Successors
and Assigns; Third Party Beneficiaries. This Agreement will be binding upon the Subject Party and the Subject Party’s
estate, successors and assigns, and will inure to the benefit of the Covered Parties, and their respective successors and assigns.
Each Covered Party may freely assign any or all of its rights under this Agreement, at any time, in whole or in part, to any Person
which acquires, in one or more transactions, at least a majority of the equity securities (whether by equity sale, merger or otherwise)
of such Covered Party or all or substantially all of the assets of such Covered Party and its Subsidiaries, taken as a whole, without
obtaining the consent or approval of the Subject Party. The Subject Party agrees that the obligations of the Subject Party under
this Agreement are personal and will not be assigned by the Subject Party. Each of the Covered Parties are express third party
beneficiaries of this Agreement and will be considered parties under and for purposes of this Agreement.

 

(i) Purchaser
Representative Authorized to Act on Behalf of Covered Parties. The parties acknowledge and agree that from and after the Closing
the Purchaser Representative is authorized and shall have the sole right to act on behalf of Pubco, Purchaser and the other Covered
Parties under this Agreement, including the right to enforce Pubco’s, Purchaser’s and the other Covered Parties’
rights and remedies under this Agreement. Without limiting the foregoing, in the event that the Subject Party serves as a director,
officer, employee or other authorized agent of a Covered Party, the Subject Party shall have no authority, express or implied,
to act or make any determination on behalf of a Covered Party in connection with this Agreement or any dispute or Action with respect
hereto.

 

(j) Construction.
The Subject Party acknowledges that the Subject Party has been represented by counsel, or had the opportunity to be represented
by counsel of the Subject Party’s choice. Any rule of construction to the effect that ambiguities are to be resolved against
the drafting party will not be applied in the construction or interpretation of this Agreement. Neither the drafting history nor
the negotiating history of this Agreement will be used or referred to in connection with the construction or interpretation of
this Agreement. The headings and subheadings contained in this Agreement are for reference purposes only and shall not affect in
any way the meaning or interpretation of this Agreement. In this Agreement: (i) the words “include,” “includes”
and “including” when used herein shall be deemed in each case to be followed by the words “without limitation”;
(ii) the definitions contained herein are applicable to the singular as well as the plural forms of such terms; (iii) whenever
required by the context, any pronoun shall include the corresponding masculine, feminine or neuter forms, and the singular form
of nouns, pronouns and verbs shall include the plural and vice versa; (iv) the words “herein,” “hereto,”
and “hereby” and other words of similar import shall be deemed in each case to refer to this Agreement as a whole and
not to any particular Section or other subdivision of this Agreement; (v) the word “if” and other words of similar
import when used herein shall be deemed in each case to be followed by the phrase “and only if”; (vi) the term “or”
means “and/or”; and (vii) any agreement or instrument defined or referred to herein or in any agreement or instrument
that is referred to herein means such agreement or instrument as from time to time amended, modified or supplemented, including
by waiver or consent and references to all attachments thereto and instruments incorporated therein.

 

(k) Counterparts.
This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each
of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.
A photocopy, faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement, shall have the same
validity and enforceability as an originally signed copy.

 

(l) Effectiveness.
This Agreement shall be binding upon the Subject Party upon the Subject Party’s execution and delivery of this Agreement,
but this Agreement shall only become effective upon the consummation of the Transactions. In the event that the Business Combination
Agreement is validly terminated in accordance with its terms prior to the consummation of the Transactions, this Agreement shall
automatically terminate and become null and void, and the parties shall have no obligations hereunder.

 

[Remainder of Page Intentionally Left
Blank; Signature Page Follows]

 

    8

     

    

 

IN WITNESS WHEREOF,
the undersigned has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the date first written
above.

 

	 	Subject Party:
	 	 	 
	 	Yellow River (Cayman) Limited
	 	 	 
	 	By:	/s/ Alan Martin Clingman
	 	Name:  	Alan Martin Clingman
	 	Title:	Director

 

	 	Address for Notice:
	 	 	 
	 	Address:	 
	 	 	 
	 	 	 
	 	Facsimile No.:	 
	 	Telephone No.:	 
	 	Email:	 

 

     

     

    

 

Acknowledged and accepted as of the
date first written above:

 

	Pubco:	 
	 	 	 
	JHD TECHNOLOGIES Limited	 
	 	 	 
	By:	/s/ Jun Wang	 
	Name:	Jun Wang	 
	Title:	Director	 
	 	 	 
	Purchaser:	 
	 	 	 
	East Stone Acquisition Corporation	 
	 	 	 
	By:	/s/ Jun Wang	 
	Name:	Jun Wang	 
	Title:	Director	 
	 	 	 
	The Company:	 
	 	 	 
	JHD Holdings (Cayman) Limited	 
	 	 	 
	By:	/s/ Jun Wang	 
	Name:	Jun Wang	 
	Title:	Director	 
	 	 	 
	The Purchaser Representative:	 
	 	 	 
	NAVY SAIL INTERNATIONAL LIMITED, solely in its capacity
    as the Purchaser Representative	 
	 	 	 
	By:	/s/ Chunyi (Charlie) Hao	 
	Name: 	Chunyi (Charlie) Hao	 
	Title:	Director

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