Document:

Exhibit 4.4

 

Lock-Up
Agreement

 

February
[    ], 2021

 

Univest
Securities, LLC

375
Park Avenue, Suite 1502

New
York, NY 10152

 

As
Placement Agent, pursuant to a Placement Agency Agreement between Univest Securities, LLC and Code Chain New Continent Limited,
dated February 18, 2021

 

Re:
Offering and Sale of Securities of Code Chain New Continent Limited

 

Ladies
and Gentlemen:

 

The
undersigned understands that you (the “Placement Agent”) propose to enter into a Placement Agency Agreement
(the “Placement Agency Agreement”) providing for the placement by the Placement Agent of shares (the
“Shares”) of common stock, par value $0.0001 per share (the “Common Stock”)
and warrants (the “Warrants”) to purchase shares of Common Stock (the “Offering”),
of Code Chain New Continent Limited, a Nevada corporation (the “Company”), to certain investors (the
“Investors”) executing and entering into a Securities Purchase Agreement with the Company, dated February
18, 2021 (the “Purchase Agreement”).

 

In
consideration of the execution of the Placement Agency Agreement by the Placement Agent and the Purchase Agreement by the Investors,
and for other good and valuable consideration, the undersigned hereby irrevocably agrees that, without the prior written consent
of the Placement Agent, on behalf of the Investors, the undersigned will not, directly or indirectly, (a) offer for sale, sell,
pledge, or otherwise transfer or dispose of (or enter into any transaction or device that is designed to, or could be expected
to, result in the transfer or disposition by any person at any time in the future of) any shares of Common Stock (including, without
limitation, shares of Common Stock that may be deemed to be beneficially owned by the undersigned in accordance with the rules
and regulations of the Securities and Exchange Commission and shares of Common Stock that may be issued upon exercise of any options
or warrants) or securities convertible into or exercisable or exchangeable for shares of Common Stock; (b) enter into any swap
or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership
of shares of Common Stock, whether any such transaction described in clause (a) or (b) above is to be settled by delivery of shares
of Common Stock or other securities, in cash or otherwise; (c) except as provided for below, make any demand for or exercise any
right or cause to be filed a registration statement, including any amendments thereto, with respect to the registration of any
shares of Common Stock or securities convertible into or exercisable or exchangeable for shares of Common Stock or any other securities
of the Company; or (d) publicly disclose the intention to do any of the foregoing for a period commencing on the date hereof and
ending ninety (90) days after the date of closing of the Offering (such 90-day period, the “Lock-Up Period”).

 

     

     

    

 

The
foregoing paragraph shall not apply to (a) transactions relating to shares of Common Stock or other securities acquired in the
open market after the completion of the Offering, provided that no filing under Section 16(a) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), shall be required or shall be voluntarily made in connection
with such transfers; (b) bona fide gifts of shares of any class of the Company’s capital stock or any security convertible
into shares of Common Stock, in each case that are made exclusively between and among the undersigned or members of the undersigned’s
family, or affiliates of the undersigned, including its partners (if a partnership) or members (if a limited liability company);
(c) any transfer of shares of Common Stock or any security convertible into shares of Common Stock by will or intestate succession
upon the death of the undersigned; (d) transfer of shares of Common Stock or any security convertible into shares of Common Stock
to an immediate family member (for purposes of this Lock-Up Agreement, “immediate family” shall mean any relationship
by blood, marriage or adoption, not more remote than first cousin) or any trust, limited partnership, limited liability company
or other entity for the direct or indirect benefit of the undersigned or any immediate family member of the undersigned; provided
that, in the case of clauses (b), (c) and (d) above, it shall be a condition to any such transfer that (i) the transferee/donee
agrees to be bound by the terms of this Lock-Up Agreement (including, without limitation, the restrictions set forth in the preceding
sentence) to the same extent as if the transferee/donee were a party hereto; (ii) each party (donor, donee, transferor or transferee)
shall not be required by law (including without limitation the disclosure requirements of the Securities Act of 1933, as amended
(the “Securities Act”), and the Exchange Act) to make, and shall agree to not voluntarily make, any
filing or public announcement of the transfer or disposition prior to the expiration of the 90-day period referred to above; and
(iii) the undersigned notifies the Placement Agent at least two (2) business days prior to the proposed transfer or disposition;
(e) the transfer of shares to the Company to satisfy withholding obligations for any equity award granted pursuant to the terms
of the Company’s stock option/incentive plans, such as upon exercise, vesting, lapse of substantial risk of forfeiture,
or other similar taxable event, in each case on a “cashless” or “net exercise” basis (which, for the avoidance
of doubt shall not include “cashless” exercise programs involving a broker or other third party), provided that
as a condition of any transfer pursuant to this clause (e), that if the undersigned is required to file a report under Section
16(a) of the Exchange Act, reporting a reduction in beneficial ownership of shares of Common Stock or any securities convertible
into or exercisable or exchangeable for shares of Common Stock during the Lock-Up Period, the undersigned shall include a statement
in such report, and if applicable an appropriate disposition transaction code, to the effect that such transfer is being made
as a share delivery or forfeiture in connection with a net value exercise, or as a forfeiture or sale of shares solely to cover
required tax withholding, as the case may be; (f) transfers of shares of Common Stock or any security convertible into or exercisable
or exchangeable for shares of Common Stock pursuant to a bona fide third party tender offer made to all holders of shares of Common
Stock, merger, consolidation or other similar transaction involving a change of control (as defined below) of the Company, including
voting in favor of any such transaction or taking any other action in connection with such transaction, provided that in
the event that such merger, tender offer or other transaction is not completed, the shares of Common Stock and any security convertible
into or exercisable or exchangeable for shares of Common Stock shall remain subject to the restrictions set forth herein; (g)
the exercise of warrants or the exercise of stock options granted pursuant to the Company’s stock option/incentive plans
or otherwise outstanding on the date hereof; provided, that the restrictions shall apply to shares of Common Stock issued
upon such exercise or conversion; (h) the establishment of any contract, instruction or plan that satisfies all of the requirements
of Rule 10b5-1 (a “Rule 10b5-1 Plan”) under the Exchange Act; provided, however, that
no sales of shares of Common Stock or securities convertible into, or exchangeable or exercisable for, shares of Common Stock,
shall be made pursuant to a Rule 10b5-1 Plan prior to the expiration of the Lock-Up Period; provided further, that the
Company is not required to report the establishment of such Rule 10b5-1 Plan in any public report or filing with the Commission
under the Exchange Act during the lock-up period and does not otherwise voluntarily effect any such public filing or report regarding
such Rule 10b5-1 Plan; and (i) any demands or requests for, exercise any right with respect to, or take any action in preparation
of, the registration by the Company under the Securities Act of the undersigned’s shares of Common Stock, provided that
no transfer of the undersigned’s shares of Common Stock registered pursuant to the exercise of any such right and no registration
statement shall be filed under the Securities Act with respect to any of the undersigned’s shares of Common Stock during
the Lock-Up Period. For purposes of clause (f) above, “change of control” shall mean the consummation of any
bona fide third party tender offer, merger, purchase, consolidation or other similar transaction the result of which is that any
“person” (as defined in Section 13(d)(3) of the Exchange Act), or group of persons, becomes the beneficial
owner (as defined in Rules 13d-3 and 13d-5 of the Exchange Act) of a majority of total voting power of the voting stock of the
Company.

 

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The
undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar
against the transfer of the undersigned’s securities subject to this Lock-Up Agreement except in compliance with this Lock-Up
Agreement.

 

It
is understood that, if the Company notifies the Placement Agent that it does not intend to proceed with the Offering, if the Placement
Agency Agreement does not become effective, or if the Placement Agency Agreement (other than the provisions thereof which survive
termination) shall terminate or be terminated prior to the closing of the Offering, the undersigned will be released from its
obligations under this Lock-Up Agreement.

 

The
undersigned understands that the Company and the Placement Agent will proceed with the Offering and the Investors will execute
and enter into the Securities Purchase Agreement in reliance on this Lock-Up Agreement.

 

Whether
or not the Offering actually occurs depends on a number of factors, including market conditions. Any Offering will only be made
pursuant to a Placement Agency Agreement, the terms of which are subject to negotiation between the Company and the Placement
Agent.

 

This
Lock-Up Agreement shall automatically terminate upon the earliest to occur, if any, of (a) the termination of the Placement Agency
Agreement before the closing of the Offering; or (b) _______ __, 2021, in the event that the Placement Agency Agreement has not
been executed by that date.

 

This
Lock-Up Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the
conflict of laws principles thereof. Delivery of a signed copy of this Lock-Up Agreement by facsimile or e-mail/.pdf transmission
shall be effective as the delivery of the original hereof.

 

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The
undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement
and that, upon request, the undersigned will execute any additional documents necessary in connection with the enforcement hereof.
Any obligations of the undersigned shall be binding upon the heirs, personal representative, successors and assigns of the undersigned.

 

	 	Very
    truly yours,
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Print
    Name
	 	 
	 	 
	 	Address

 

[Signature
Page – Lock-Up Agreement – Code Chain New Continent Limited]Exhibit 10.1

 

PLACEMENT
AGENCY AGREEMENT

 

February
18, 2021

 

Code
Chain New Continent Limited

No
2020 Zhongshanxi Road

Room 502A40

Xuhui District, Shanghai, China 200030

Attention:
Weidong (David) Feng, Co-Chief Executive Officer

Phone:
+86-0513-8912-3630

 

Dear
Mr. Feng:

 

This
letter (the “Agreement”) constitutes the agreement by and between Univest Securities, LLC (“Univest”
or the “Placement Agent”) and Code Chain New Continent Limited, a Nevada corporation (the “Company”),
pursuant to which the Placement Agent shall serve as the placement agent for the Company, on a “reasonable best efforts”
basis, in connection with the proposed placement (the “Placement”) of registered shares of common stock (the
“Shares”) of the Company, par value $0.0001 per share (“Common Stock”), and unregistered
warrants to purchase Common Stock (the “Warrants” and together with the Shares, the “Securities”).
The terms of the Placement and the Securities shall be mutually agreed upon by the Company and the purchasers (each, a “Purchaser”
and collectively, the “Purchasers”) and nothing herein constitutes that the Placement Agent would have the
power or authority to bind the Company or any Purchaser or an obligation for the Company to issue any Securities or complete the
Placement. This Agreement and the documents executed and delivered by the Company and the Purchasers in connection with the Placement,
including but not limited to the Purchase Agreement (as defined below) and the form of the Warrants, shall be collectively referred
to herein as the “Transaction Documents.” The date of the closing of the Placement shall be referred to herein
as the “Closing Date.” The Company expressly acknowledges and agrees that the obligations of the Placement
Agent hereunder are on a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment
by the Placement Agent to purchase the Securities and does not ensure the successful placement of the Securities or any portion
thereof or the success of the Placement Agent with respect to securing any other financing on behalf of the Company. Following
the prior written consent of the Company, the Placement Agent may retain other brokers or dealers to act as sub-agents or selected-dealers
on its behalf in connection with the Placement. The sale of the Securities to any Purchaser will be evidenced by a securities
purchase agreement (the “Purchase Agreement”) between the Company and such Purchaser in a form mutually agreed
upon by the Company and the Placement Agent. Capitalized terms that are not otherwise defined herein have the meanings given to
such terms in the Purchase Agreement. Prior to the signing of any Purchase Agreement, executive officers of the Company will be
available upon reasonable notice and during normal business hours to answer inquiries from prospective Purchasers.

 

     

     

    

 

SECTION 1. REPRESENTATIONS
AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.

 

A. Representations
of the Company. Each of the representations and warranties (together with any related disclosure schedules thereto) and covenants
made by the Company to the Purchasers in the Purchase Agreement in connection with the Placement is hereby incorporated herein
by reference into this Agreement (as though fully restated herein) and is, as of the date of this Agreement and as of the Closing
Date, hereby made to, and in favor of, the Placement Agent. In addition to the foregoing, the Company represents and warrants
that:

 

1. The
Company has prepared and filed with the U.S. Securities and Exchange Commission (the “Commission”) a registration
statement on Form S-3 (Registration No. 333-232316) for the registration under the Securities Act of 1933, as amended
(the “Securities Act”), of the Shares, which registration statement became effective on July 8, 2019. At the
time of such filing, the Company met the requirements of Form S-3 under the Securities Act. Such registration statement meets
the requirements set forth in Rule 415(a)(1)(x) under the Securities Act and complies with said Rule. The Company will
file with the Commission pursuant to Rule 424(b) under the Securities Act, and the rules and regulations (the “Rules and
Regulations”) of the Commission promulgated thereunder, a supplement to the form of prospectus included in such registration
statement relating to the placement of the Shares and the plan of distribution thereof and has advised the Placement Agent of
all further information (financial and other) with respect to the Company required to be set forth therein. Such registration
statement, including the exhibits thereto, as amended at the date of this Agreement, is hereinafter called the “Registration
Statement”; such prospectus in the form in which it appears in the Registration Statement is hereinafter called the
“Base Prospectus”; and the supplemented form of prospectus, in the form in which it will be filed with the
Commission pursuant to Rule 424(b) (including the Base Prospectus as so supplemented) is hereinafter called the “Prospectus
Supplement.” Any reference in this Agreement to the Registration Statement, the Base Prospectus or the Prospectus Supplement
shall be deemed to refer to and include the documents incorporated by reference therein (the “Incorporated Documents”)
pursuant to Item 12 of Form S-3 which were filed under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), on or before the date of this Agreement, or the issue date of the Base Prospectus or the Prospectus Supplement,
as the case may be; and any reference in this Agreement to the terms “amend,” “amendment” or “supplement”
with respect to the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be deemed to refer to and include
the filing of any document under the Exchange Act after the date of this Agreement, or the issue date of the Base Prospectus or
the Prospectus Supplement, as the case may be, deemed to be incorporated therein by reference. All references in this Agreement
to financial statements and schedules and other information which is “contained,” “included,” “described,”
“referenced,” “set forth” or “stated” in the Registration Statement, the Base Prospectus or
the Prospectus Supplement (and all other references of like import) shall be deemed to mean and include all such financial statements
and schedules and other information which is or is deemed to be incorporated by reference in the Registration Statement, the Base
Prospectus or the Prospectus Supplement, as the case may be. No stop order suspending the effectiveness of the Registration Statement
or the use of the Base Prospectus or the Prospectus Supplement has been issued, and no proceeding for any such purpose is pending
or has been initiated or, to the Company’s knowledge, is threatened by the Commission. For purposes of this Agreement, “Free
Writing Prospectus” has the meaning set forth in Rule 405 under the Securities Act.

 

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2. The
Registration Statement (and any further documents to be filed with the Commission) contains all exhibits and schedules as required
by the Securities Act. Each of the Registration Statement and any post-effective amendment thereto, at the time it became effective,
complied in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations and
did not and, as amended or supplemented, if applicable, will not, contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading. The Base Prospectus
and the Prospectus Supplement, each as of its respective date, comply in all material respects with the Securities Act and the
Exchange Act and the applicable Rules and Regulations. Each of the Base Prospectus, and the Prospectus Supplement, as amended
or supplemented, did not and will not contain as of the date thereof any untrue statement of a material fact or omit to state
a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading. The Incorporated Documents, when they were filed with the Commission, conformed in all material respects to the
requirements of the Exchange Act and the applicable Rules and Regulations, and none of such documents, when they were filed
with the Commission, contained any untrue statement of a material fact or omitted to state a material fact necessary to make the
statements therein (with respect to Incorporated Documents incorporated by reference in the Base Prospectus or Prospectus Supplement),
in the light of the circumstances under which they were made not misleading; and any further documents so filed and incorporated
by reference in the Base Prospectus, or Prospectus Supplement, when such documents are filed with the Commission, will conform
in all material respects to the requirements of the Exchange Act and the applicable Rules and Regulations, as applicable,
and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading. No post-effective amendment to the Registration
Statement reflecting any facts or events arising after the date thereof which represent, individually or in the aggregate, a fundamental
change in the information set forth therein is required to be filed with the Commission. There are no documents required to be
filed with the Commission in connection with the transaction contemplated hereby that (x) have not been filed as required
pursuant to the Securities Act or (y) will not be filed within the requisite time period. There are no contracts or other
documents required to be described in the Base Prospectus, or Prospectus Supplement, or to be filed as exhibits or schedules to
the Registration Statement, which (x) have not been described or filed as required or (y) will not be filed within the
requisite time period. 

 

3. The
Company is eligible to use Free Writing Prospectuses in connection with the Placement pursuant to Rules 164 and 433 under the
Securities Act. Any Free Writing Prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities
Act has been, or will be, filed with the Commission in accordance with the requirements of the Securities Act and the applicable
rules and regulations of the Commission thereunder. Each Free Writing Prospectus that the Company has filed, or is required to
file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or behalf of or used by the Company complies or
will comply in all material respects with the requirements of the Securities Act and the applicable rules and regulations of the
Commission thereunder. The Company will not, without the prior consent of the Placement Agent, prepare, use or refer to, any Free
Writing Prospectus.

 

4.
 The Company has filed all reports, schedules, forms, statements or other documents required
to be filed by the Company under the Securities Act or Exchange Act, during the three years preceding the date hereof (the foregoing
materials filed during such three-year period, including the exhibits thereto and documents incorporated by reference therein,
the “SEC Reports”). For the twelve months preceding the date hereof, the Company has filed the SEC Reports
on a timely basis(including any valid extension of such time of filing provided under Rule 12b-5 or under coronavirus-related
relief by the Commission) and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective
filing or amendment dates, the SEC Reports complied in all material respects with the requirements of the Exchange Act and the
rules and regulations of the Commission promulgated thereunder; and as of their respective filing or amendment dates, the SEC
Reports did not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make
the statements therein, in light of the circumstances under which they were made, not misleading. 

 

5.
 There are no affiliations with any Financial Industry Regulatory Authority, Inc. (“FINRA”)
member firm among the Company’s officers, directors or, to the knowledge of the Company, any five percent (5.0%) or greater
shareholder of the Company, except as set forth in the Registration Statement and the SEC Reports.

 

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6. Assuming
the accuracy of the Purchasers’ representations and warranties set forth in the Purchase Agreement, no registration under
the Securities Act is required for the offer and sale of the Warrants by the Company to the Purchasers as contemplated hereby.
The offer and sale of such Warrants does not and will not contravene the rules and regulations of the Nasdaq Capital Market. The
offer and sale of such Warrants does not and will not be integrated with the offer and sale of the Shares for purposes of the
Securities Act.

 

B. Covenants
of the Company.

 

1. The
Company has delivered or made available, or will as promptly as practicable deliver or make available, to the Placement Agent
complete conformed copies of the Registration Statement and of each consent and certificate of experts, as applicable, filed as
a part thereof, and conformed copies of the Registration Statement (without exhibits), the Base Prospectus, and the Prospectus
Supplement, as amended or supplemented, in such quantities and at such places as the Placement Agent reasonably requests. Neither
the Company nor any of its directors and officers has distributed and none of them will distribute, prior to the Closing Date,
any offering material in connection with the offering and sale of the Securities pursuant to the Placement other than the Transaction
Documents, the Base Prospectus, the Prospectus Supplement, the Registration Statement, copies of the documents incorporated by
reference therein and any other materials permitted by the Securities Act.

 

2. The
Company will advise the Placement Agent promptly after it receives notice thereof of the time when any amendment to the Registration
Statement has been filed or becomes effective or any supplement to the Base Prospectus or the final Prospectus has been filed
and will furnish the Placement Agent with copies thereof, the parties acknowledging that such obligation is satisfied by filing
such materials on the EDGAR system of the Commission. The Company will file promptly all reports and any definitive proxy or information
statements required to be filed by the Company with the Commission pursuant to Section 13(a), 14 or 15(d) of the Exchange Act
subsequent to the date of any Prospectus and for so long as the delivery of a prospectus is required in connection with the Placement.
The Company will advise the Placement Agent, promptly after it receives notice thereof (i) of any request by the Commission to
amend the Registration Statement or to amend or supplement any Prospectus or for additional information, and (ii) of the issuance
by the Commission of any stop order suspending the effectiveness of the Registration Statement or any post-effective amendment
thereto or any order directed at any Incorporated Document, if any, or any amendment or supplement thereto or any order preventing
or suspending the use of the Base Prospectus or the final Prospectus or any prospectus supplement or any amendment or supplement
thereto or any post-effective amendment to the Registration Statement, of the suspension of the qualification of any of the Securities
for offering or sale in any jurisdiction, of the institution or threatened institution of any proceeding for any such purpose,
or of any request by the Commission for the amending or supplementing of the Registration Statement or a Prospectus or for additional
information. The Company shall use its best efforts to prevent the issuance of any such stop order or prevention or suspension
of such use.  If the Commission shall enter any such stop order or order or notice of prevention or suspension at any time,
the Company will use its best efforts to obtain the lifting of such order at the earliest possible moment, or will file a new
registration statement and use its best efforts to have such new registration statement declared effective as soon as practicable. 
Additionally, the Company agrees that it shall comply with the provisions of Rules 424(b), 430A, 430B and 430C, as applicable,
under the Securities Act, including with respect to the timely filing of documents thereunder, and will use its reasonable efforts
to confirm that any filings made by the Company under such Rule 424(b) are received in a timely manner by the Commission.

 

3. The
Company will cooperate with the Placement Agent and the Purchasers in endeavoring to qualify the Securities for sale under the
securities laws of such jurisdictions (United States and foreign) as the Placement Agent and the Purchasers may reasonably request
and will make such applications, file such documents, and furnish such information as may be reasonably required for that purpose,
provided the Company shall not be required to qualify as a foreign corporation or to file a general consent to service of process
in any jurisdiction where it is not now so qualified or required to file such a consent, and provided further that the Company
shall not be required to produce any new disclosure document. The Company will, from time to time, prepare and file such statements,
reports and other documents as are or may be required to continue such qualifications in effect for so long a period as the Placement
Agent may reasonably request for distribution of the Securities. The Company will advise the Placement Agent promptly of the suspension
of the qualification or registration of (or any such exemption relating to) the Securities for offering, sale or trading in any
jurisdiction or any initiation or threat of any proceeding for any such purpose, and in the event of the issuance of any order
suspending such qualification, registration or exemption, the Company shall use its best efforts to obtain the withdrawal thereof
at the earliest possible moment.

 

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4. The
Company will comply with the Securities Act and the Exchange Act, and the rules and regulations of the Commission thereunder,
so as to permit the completion of the distribution of the Securities as contemplated in this Agreement, the Incorporated Documents
and any Prospectus. If during the period in which a prospectus is required by law to be delivered in connection with the distribution
of any Securities contemplated by the Incorporated Documents or any Prospectus (the “Prospectus Delivery Period”),
any event shall occur as a result of which, in the judgment of the Company or in the opinion of the Placement Agent or counsel
for the Placement Agent, it becomes necessary to amend or supplement the Incorporated Documents or any Prospectus in order to
make the statements therein, in the light of the circumstances under which they were made, as the case may be, not misleading,
or if it is necessary at any time to amend or supplement the Incorporated Documents or any Prospectus or to file under the Exchange
Act any Incorporated Document to comply with any law, the Company will promptly prepare and file with the Commission, and furnish
at its own expense to the Placement Agent and to dealers, an appropriate amendment to the Registration Statement or supplement
to the Registration Statement, the Incorporated Documents or any Prospectus that is necessary in order to make the statements
in the Incorporated Documents and any Prospectus as so amended or supplemented, in the light of the circumstances under which
they were made, as the case may be, not misleading, or so that the Registration Statement, the Incorporated Documents or any Prospectus,
as so amended or supplemented, will comply with law. Before amending the Registration Statement or supplementing the Incorporated
Documents or any Prospectus in connection with the Placement, the Company will furnish the Placement Agent with a copy of such
proposed amendment or supplement and will not file any such amendment or supplement to which the Placement Agent reasonably objects.

 

5. During
the Prospectus Delivery Period, the Company will duly file, on a timely basis, with the Commission and the Trading Market all
reports and documents required to be filed under the Exchange Act within the time periods and in the manner required by the Exchange
Act.

 

6. The
Company will not take, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably
be expected to constitute, the stabilization or manipulation of the price of any securities of the Company.

 

7. On
or prior to the Closing Date, the Company shall have furnished to the Placement Agent a letter substantially in the form of Exhibit
A hereto (the “Lock-Up Agreement”) from each executive officer, director and shareholder of the Company
owning 10% or more of the Company’s equity securities listed on Schedule I hereto addressed to the Placement Agent.
The Company will use its reasonable best efforts to enforce the terms of each Lock-Up Agreement and will issue stop-transfer instructions
to the transfer agent for the shares of Common Stock with respect to any transaction or contemplated transaction that would constitute
a breach of or default under the applicable Lock-Up Agreement.

 

8. If
any of the conditions specified in this Section 1(B) shall not have been fulfilled when and as provided in this Agreement,
or if any of the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory
in form and substance to the Placement Agent and its counsel, this Agreement and all obligations of the Placement Agent hereunder
may be canceled at, or at any time prior to, the Closing Date by the Placement Agent. Notice of such cancellation shall be given
to the Company in writing or by telephone or facsimile confirmed in writing.

 

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C. Subsequent
Equity Sales. Without the written consent of the Placement Agent, which consent may be withheld for any reason or no reason,
from the date hereof until thirty (30) days after the Closing Date, neither the Company nor any Subsidiary shall issue, enter
into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents
other than an Exempt Issuance. Without the written consent of the Placement Agent, which consent may be withheld for any reason
or no reason, from the date hereof until ninety (90) days after the Closing Date, the Company shall be prohibited from effecting
or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of shares of Common Stock or Common
Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction. For purposes of this Agreement, “Variable
Rate Transaction” shall mean a transaction in which the Company (i) issues or sells any debt or equity securities
that are convertible into, exchangeable or exercisable for, or include the right to receive additional shares of Common Stock
either (A) at a conversion price, exercise price or exchange rate or other price that is based upon and/or varies with the
trading prices of or quotations for the Common Stock at any time after the initial issuance of such debt or equity securities,
or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial
issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related
to the business of the Company or the market for the Common Stock or (ii) enters into, or effects a transaction under, any
agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined
price. The Placement Agent shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which
remedy shall be in addition to any right to collect damages.

 

SECTION 2.  REPRESENTATIONS
OF THE PLACEMENT AGENT. The Placement Agent represents and warrants that it (i) is a member in good standing of
FINRA, (ii) is registered as a broker/dealer under the Exchange Act, (iii) is licensed as a broker/dealer under the
laws of the States applicable to the offers and sales of the Securities by the Placement Agent, (iv) is and will be a corporate
entity validly existing under the laws of its place of formation, and (v) has full power and authority to enter into and
perform its obligations under this Agreement. The Placement Agent will immediately notify the Company in writing of any change
in its status as such. The Placement Agent covenants that it will use its reasonable best efforts to conduct the Placement hereunder
in compliance with the provisions of this Agreement and the requirements of applicable law.

 

SECTION 3. COMPENSATION. In
consideration of the services to be provided for hereunder by the Placement Agent, the Company shall pay to the Placement
Agent the following compensation with respect to the Securities which the Placement Agent is placing:

 

A. A
cash fee (the “Cash Fee”) equal to an aggregate of eight percent (8.0%) of the aggregate gross proceeds raised
in the Placement. The Cash Fee shall be paid at the closing of the Placement (the “Closing”).

 

B. In
addition to the Cash Fee, the Company shall issue the Placement Agent a warrant for the purchase of a number of shares of Common
Stock equal to five percent (5.0%) of the number of Shares issued in the Placement, at an exercise price equal to one hundred
percent (100%) of the Share offering price in the Placement, for an aggregate purchase price of one hundred U.S. dollars (US$100),
which warrant shall be exercisable at any time during the period commencing six (6) months after the Closing Date through the
fifth (5th) anniversary of issuance (the “Placement Agent Warrant” and together with the shares
of Common Stock underlying the Placement Agent Warrant, the “Placement Agent Securities”) and in all respects
in compliance with FINRA Rule 5110(f) and (g). Apart from the preceding sentence and not providing for cashless exercise of the
Placement Agent Warrants, if Warrants are issued to Purchasers in the Placement, the Placement Agent Warrants shall have the same
terms as the Warrants.

 

    6

     

    

 

C. Subject
to compliance with FINRA Rule 5110(g)(4)(A), the Company also agrees to reimburse the Placement Agent, taken together and
not individually, for all travel and other out-of-pocket expenses, including the reasonable fees, costs and disbursements of its
legal counsel, in an amount not to exceed an aggregate of sixty thousand U.S. dollars (US$60,000). The Company will reimburse
the Placement Agent at the Closing directly out of the gross proceeds raised in the Placement. The Company further agrees that,
in addition to the expenses payable to the Placement Agent pursuant to this Section 3, on the Closing Date, it shall pay the Placement
Agent a non-accountable expense allowance equal to one percent (1%) of the gross proceeds received by the Company from the sale
of the Securities in the Placement.

 

D. The
Placement Agent reserves the right to reduce any item of its compensation or adjust (in the Company’s favor) the terms thereof
as specified herein in the event that a determination shall be made by FINRA to the effect that the Placement Agent’s aggregate
compensation is in excess of FINRA’s rules and regulations or that the terms thereof require adjustment.

 

SECTION 4. INDEMNIFICATION. The
Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”)
attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall survive the
termination or expiration of this Agreement.

 

SECTION 5. ENGAGEMENT
TERM. The Placement Agent’s engagement hereunder shall be until the earlier of (i) March 18, 2021 and (ii) the
final Closing Date of the Placement (such date, the “Termination Date” and the period of time during which
this Agreement remains in effect is referred to herein as the “Term”).  Notwithstanding anything to the
contrary contained herein, the provisions concerning the Company’s obligation to pay any fees actually earned pursuant to
Section 3 hereof and the provisions concerning confidentiality, indemnification and contribution contained herein and the Company’s
obligations contained in the Indemnification Provisions attached hereto as Addendum A will survive any expiration
or termination of this Agreement. If this Agreement is terminated prior to the completion of the Placement, all fees due to the
Placement Agent shall be paid by the Company to the Placement Agent on or before the Termination Date (in the event such fees
are earned or owed as of the Termination Date). The Placement Agent agrees not to use any confidential information concerning
the Company provided to the Placement Agent by the Company for any purposes other than those contemplated under this Agreement.

 

SECTION 6. PLACEMENT
AGENT’S INFORMATION. The Company agrees that any information or advice rendered by the Placement Agent in connection
with this engagement is for the confidential use of the Company only in its evaluation of the Placement and, except as otherwise
required by law, the Company will not disclose or otherwise refer to the advice or information in any manner without the Placement
Agent’s prior written consent.

 

SECTION 7. NO
FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by
any person or entity not a party hereto, except those entitled hereto by virtue of the Indemnification Provisions attached hereto
as Addendum A hereof. The Company acknowledges and agrees that the Placement Agent is not nor shall it be construed
as a fiduciary of the Company and the Placement Agent shall not have any duties or liabilities to the equity holders or the creditors
of the Company or any other person by virtue of this Agreement or the retention of the Placement Agent hereunder, all of which
are hereby expressly waived.

 

    7

     

    

 

SECTION 8. CLOSING. The
obligations of the Placement Agent, and the Closing of the sale of the Securities hereunder are subject to the accuracy, when
made and on the Closing Date, of the representations and warranties on the part of the Company contained herein and in the Purchase
Agreement, to the accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof, to the
performance by the Company of their obligations hereunder, and to each of the following additional terms and conditions, except
as otherwise disclosed to and acknowledged and waived by the Placement Agent.

 

A. No
stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose
shall have been initiated or threatened by the Commission, and any request for additional information on the part of the Commission
(to be included in the Registration Statement, the Base Prospectus, the Prospectus Supplement or otherwise) shall have been complied
with to the reasonable satisfaction of the Placement Agent. Any filings required to be made by the Company in connection with
the Placement shall have been timely filed with the Commission.

 

B. The
Placement Agent shall not have discovered and disclosed to the Company on or prior to the Closing Date that the Registration Statement,
the Base Prospectus, the Prospectus Supplement or any amendment or supplement thereto contains an untrue statement of a fact which,
in the opinion of counsel for the Placement Agent, is material or omits to state any fact which, in the opinion of such counsel,
is material and is required to be stated therein or is necessary to make the statements therein not misleading.

  

C. All
corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of
this Agreement, the Securities, the Registration Statement, the Base Prospectus and the Prospectus Supplement and all other legal
matters relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory in all material respects
to counsel for the Placement Agent and the Company shall have furnished to such counsel all documents and information that they
may reasonably request to enable them to pass upon such matters.

 

D. The
Placement Agent shall have completed its due diligence investigation of the Company to the satisfaction of the Placement Agent
and its counsel.

 

E. The
Placement Agent shall have received from outside counsels to the Company such counsels’ written opinions, including, without
limitation, a negative assurance letter from applicable counsel, addressed to the Placement Agent and the Purchasers and dated
as of the Closing Date, in form and substance reasonably satisfactory to the Placement Agent.

 

F. On
the date of this Agreement and on the Closing Date, the Placement Agent shall have received a “comfort” letter from
the Company’s independent registered public accounting firm, WWC. P.C., and a certificate of the chief financial officer
of the Company, as of each such date, addressed to the Placement Agent and in form and substance satisfactory in all respects
to the Placement Agent and Placement Agent’s counsel. Such officer shall also provide a customary certification as to such
accounting or financial matters that are included or incorporated by reference in the Registration Statement or the Prospectus
that WWC. P.C. is unable to provide assurances on in the “comfort” letter contemplated by the immediately preceding
sentence.

 

    8

     

    

 

G. On
the Closing Date, Placement Agent shall have received a certificate of the chief executive officer of the Company, dated, as applicable,
as of the date of such Closing, to the effect that, as of the date of this Agreement and as of the applicable date, the representations
and warranties of the Company contained herein and in the Purchase Agreement were and are accurate in all material respects, except
for such changes as are contemplated by this Agreement and except as to representations and warranties that were expressly limited
to a state of facts existing at a time prior to the applicable Closing Date, and that, as of the applicable date, the obligations
to be performed by the Company hereunder on or prior thereto have been fully performed in all material respects. 

 

H. On
the Closing Date, Placement Agent shall have received from the Company a certificate of the corporate secretary of the Company,
dated, as applicable, as of the date of such Closing, certifying to the organizational documents of the Company, good standing
in the jurisdiction of formation of the Company and board resolutions authorizing the Placement of the Securities.

 

I. The
Company (i) shall not have sustained since the date of the latest audited financial statements included or incorporated by
reference in the Registration Statement, the Base Prospectus and the Prospectus Supplement, any loss or interference with its
business as a result of any fire, explosion, flood, terrorist act, epidemic or pandemic (including as a result of the coronavirus
known as COVID-19), any change in general economic, political or financial conditions in the United States or elsewhere, act of
war or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or
decree, otherwise than as set forth in or contemplated by the Registration Statement, the Base Prospectus and the Prospectus Supplement,
and (ii) since such date there shall not have been any change in the capital stock or long-term debt of the Company or any
change, or any development involving a prospective change, in or affecting the business, general affairs, management, financial
position, shareholders’ equity, results of operations or prospects of the Company, otherwise than as set forth in or contemplated
by the Registration Statement, the Base Prospectus and the Prospectus Supplement, the effect of which, in any such case described
in clause (i) or (ii), is, in the judgment of the Placement Agent, so material and adverse as to make it impracticable or
inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner contemplated by the Base Prospectus,
the Prospectus Supplement and the Purchase Agreement.

 

J.  The
Common Stock is registered under the Exchange Act and, as of the Closing Date, the Company has submitted the notification of listing
of additional Common Stock, including the Shares and the shares of Common Stock underlying the Warrants, to the Trading Market
or other U.S. applicable national exchange, and the Shares and the shares of Common Stock underlying the Warrants shall be listed
for trading on the Trading Market or other applicable U.S. national exchange and reasonable evidence of such action, if available,
shall have been provided to the Placement Agent. The Company shall have taken no action designed to, or likely to have the effect
of terminating the registration of the Common Stock under the Exchange Act or delisting or suspending from trading the Common
Stock from the Trading Market or other applicable U.S. national exchange, nor has the Company received any information suggesting
that the Commission or the Trading Market or other U.S. applicable national exchange is contemplating terminating such registration
or listing.

 

K. No
action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental
agency or body which would, as of the Closing Date, prevent the issuance or sale of the Securities or materially and adversely
affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or
order of any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing Date
which would prevent the issuance or sale of the Securities or materially and adversely affect or potentially and adversely affect
the business or operations of the Company.

 

L. The
Company shall have prepared and filed with the Commission a Current Report on Form 8-K with respect to the Placement, including
as an exhibit thereto this Agreement.

 

    9

     

    

  

M. The
Company shall have entered into a Purchase Agreement with each of the Purchasers and such agreements shall be in full force and
effect and shall contain representations, warranties and covenants of the Company as agreed between the Company and the Purchasers.

 

N. FINRA
shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition,
the Company shall, if requested by the Placement Agent, make or authorize Placement Agent’s counsel to make on the Company’s
behalf, any filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110 with respect to the Placement
and pay all filing fees required in connection therewith.

 

O. The
Company has and shall take all such action as the Company shall reasonably determine is necessary in order to obtain an exemption
for, or to qualify the Shares and Warrants for, sale to the Purchasers at the Closing under applicable securities or “Blue
Sky” laws of the states of the United States, as the Placement Agent may designate and to maintain such qualifications in
effect so long as required to complete the distribution of the Shares and Warrants; provided, however, that the Company shall
not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities
in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any jurisdiction
in which it is not otherwise so subject.

 

P. The
Company shall apply the net proceeds from the Placement received by it in a manner consistent with the application thereof described
under the caption or heading “Use of Proceeds” in the Registration Statement, the Base Prospectus, the Prospectus
Supplement and the Purchase Agreement.

 

Q.
 Prior to the Closing Date, the Company shall have furnished to the Placement Agent such
further information, certificates and documents as the Placement Agent may reasonably request.

 

If
any of the conditions specified in this Section 8 shall not have been fulfilled when and as required by this Agreement, or
if any of the certificates, opinions, written statements or letters furnished to the Placement Agent or to Placement Agent’s
counsel pursuant to this Section 8 shall not be reasonably satisfactory in form and substance to the Placement Agent and
to Placement Agent’s counsel, all obligations of the Placement Agent hereunder may be cancelled by the Placement Agent at,
or at any time prior to, the consummation of the Closing. Notice of such cancellation shall be given to the Company in writing
or orally. Any such oral notice shall be confirmed promptly thereafter in writing.

 

SECTION 9. RIGHT
OF FIRST REFUSAL. Subject to the Placement Agent’s consummation of this Placement, beginning on the Closing Date of
such Placement until the twelve (12)-month anniversary following the Closing Date (the “ROFR Period”), the
Company grants the Placement Agent the right to provide investment banking services to the Company on an exclusive basis in all
matters for which the following investment banking services are sought by the Company (such right, the “ROFR”),
which right is exercisable in the Placement Agent’s sole discretion. For these purposes, investment banking services shall
mean (a) acting as lead manager for any underwritten public offering; (b) acting as exclusive placement agent, initial purchaser
or financial advisor in connection with any private offering of securities of the Company (other than (i) in connection with private
offerings of securities of the Company exclusively to investors located in the People’s Republic of China (“PRC”)
and (ii) private placements exclusively with existing securityholders of the Company closed prior to the date hereof); and (c)
acting as financial advisor in connection with any sale or other transfer by the Company, directly or indirectly, of a majority
or controlling portion of its capital stock or assets to another entity, any purchase or other transfer by another entity, directly
or indirectly, of a majority or controlling portion of the capital stock or assets of the Company, and any merger or consolidation
of the Company with another entity; provided, however, that this clause (c) shall not be applicable to any transaction
in which the Company proposes to acquire the equity interests or assets of any entity which is domiciled in the PRC. Within five
(5) days after the Company’s decision to enter into any such transaction, the Company shall provide written notice to the
Placement Agent, and the Placement Agent shall notify the Company of its intention to exercise the ROFR within fifteen (15) business
days following receipt of such written notice from the Company. Any decision by the Placement Agent to act in any such capacity
shall be contained in separate agreements, which agreements would contain, among other matters, provisions for customary fees
for transactions of similar size and nature, as may be mutually agreed upon by the parties thereto, and indemnification of the
Placement Agent which are appropriate to such transaction and shall be subject to general market conditions. If the Placement
Agent declines to exercise the ROFR or in the event the terms proposed by the Placement Agent are unsatisfactory to the Company,
the Company shall have the right to retain any other person or persons to provide such services on terms and conditions which
are not more favorable to such other person or persons than the terms declined by the Placement Agent in the first instance, or
than the terms proposed by the Placement Agent in the second instance. The ROFR granted hereunder may be terminated by the Company
for “Cause”, which shall mean a material breach by the Placement Agent of this Agreement or a material failure by
the Placement Agent to provide the services as contemplated by this Agreement. The services provided by the Placement Agent hereunder
are solely for the benefit of the Company and are not intended to confer any rights upon any persons or entities not a party hereto
(including, without limitation, securityholders, employees or creditors of the Company) as against the Placement Agent or its
directors, officers, agents and employees.

 

    10

     

    

 

SECTION 10. GOVERNING
LAW. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to
agreements made and to be performed entirely in such State. This Agreement may not be assigned by either party without the prior
written consent of the other party. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their
respective successors and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement
or any transaction or conduct in connection herewith is waived. Any dispute arising under this Agreement may be brought into the
courts of the State of New York or into the Federal Court located in New York, New York and, by execution and delivery of this
Agreement, the Company hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction
of aforesaid courts. Each party hereto hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by delivering a copy thereof via overnight delivery (with evidence of delivery) to such
party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law. If either party shall commence an action or proceeding to enforce any provisions of a Transaction
Document, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorney’s
fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

SECTION 11. ENTIRE
AGREEMENT/MISC. This Agreement (including the Indemnification Provisions attached hereto as Addendum A) embodies
the entire agreement and understanding between the parties hereto with respect to this Placement, and supersedes all prior agreements
and understandings, relating to the subject matter hereof. If any provision of this Agreement is determined to be invalid or unenforceable
in any respect, such determination will not affect such provision in any other respect or any other provision of this Agreement,
which will remain in full force and effect. This Agreement may not be amended or otherwise modified or waived except by an instrument
in writing signed by both the Placement Agent and the Company. The representations, warranties, agreements and covenants contained
herein shall survive the Closing of the Placement and delivery of the Securities. This Agreement may be executed in two or more
counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when
counterparts have been signed by each party hereto and delivered to the other party hereto, it being understood that both parties
hereto need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or a .pdf format
file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile or .pdf signature page were an original thereof.

 

SECTION 12. CONFIDENTIALITY.
The Placement Agent (i) will keep the Confidential Information (as such term is defined below) confidential and will not
(except as required by applicable law or Trading Market or other stock exchange requirement, regulation or legal process (“Legal
Requirement”)), without the Company’s prior written consent, disclose to any person any Confidential Information,
and (ii) will not use any Confidential Information other than in connection with the Placement. The Placement Agent further
agrees to disclose the Confidential Information only to its Representatives (as such term is defined below) who need to know the
Confidential Information for the purpose of the Placement, and who are informed by the Placement Agent of the confidential nature
of the Confidential Information. The term “Confidential Information” shall mean, all confidential, proprietary
and non-public information (whether written, oral or electronic communications) furnished by the Company to the Placement Agent
or its Representatives in connection with such Placement Agent’s evaluation of the Placement. The term “Confidential
Information” will not, however, include information which (i) is or becomes publicly available other than as a
result of a disclosure by the Placement Agent or its Representatives in violation of this Agreement, (ii) is or becomes available
to the Placement Agent or any of its Representatives on a non-confidential basis from a third-party, (iii) is known to the
Placement Agent or any of its Representatives prior to disclosure by the Company or any of its Representatives, or (iv) is
or has been independently developed by the Placement Agent and/or the Representatives without use of any Confidential Information
furnished to it by the Company. The term “Representatives” shall mean with respect to the Placement Agent,
its directors, board committees, officers, employees, financial advisors, attorneys and accountants. This provision shall be in
full force until the earlier of (a) the date on which the Confidential Information ceases to be confidential and (b) two
years from the date hereof. Notwithstanding any of the foregoing, in the event that the Placement Agent or any of its Representatives
are required by Legal Requirement to disclose any of the Confidential Information, the Placement Agent and its Representatives
will furnish only that portion of the Confidential Information which the Placement Agent or its Representative, as applicable,
is required to disclose by Legal Requirement as advised by counsel, and will use reasonable efforts to obtain reliable assurance
that confidential treatment will be accorded the Confidential Information so disclosed.

 

SECTION 13. NOTICES.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent
to the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a business
day, (b) the next business day after the date of transmission, if such notice or communication is sent to the email address
on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York City time)
on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized
air courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for
such notices and communications shall be as set forth on the signature pages hereto.

 

SECTION 14. PRESS
ANNOUNCEMENTS. The Company agrees that the Placement Agent shall, from and after any Closing, have the right to
reference the Placement and the Placement Agent’s role in connection therewith in the Placement Agent’s marketing
materials and on its website and to place advertisements in financial and other newspapers and journals, in each case at its
own expense. 

 

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    11

     

    

  

Please
confirm that the foregoing correctly sets forth our agreement by signing and returning to Univest the enclosed copy of this Agreement.

 

	 	Very truly yours,
	 	 	 
	 	 	 
	 	UNIVEST SECURITIES, LLC
	 	 	 
	 	 	 
	 	By:	/s/
    Edric Guo 
	 	 	Name:  	Edric
    Yi Guo
	 	 	Title:	COO and Head of Investment Banking

 

	 	Address for notice:  
	 	 
	 	375 Park Avenue, Unit 1502  
	 	New York, New York 10152    
	 	Attention: Edric Guo Email: yguo@univest.us  

 

	Accepted
    and Agreed to as of	 
	the
    date first written above:	 
	 	 	 
	CODE
    CHAIN NEW CONTINENT LIMITED	 
	 	 	 
	By:	/s/
    Weidong (David) Feng 	 
	 	Name:	Weidong
    (David) Feng	 
	 	Title:	Co-Chief Executive Officer	 
	 	 	 
	 	Address
        for notice:

         

        No
        2020 Zhongshanxi Road

        Room 502A40

        Xuhui District, Shanghai, China 200030

         

        Attention:
        Weidong (David) Feng

        Chief
        Executive Officer

        Phone:
             +86-0513-8912-3630

        Email:
        feng@ccnctech.com
	 

 

[Signature
Page to Placement Agency Agreement Between Code Chain New Continent Limited and Univest Securities, LLC.]

 

    12

     

    

 

ADDENDUM
A

 

INDEMNIFICATION
PROVISIONS

 

In
connection with the engagement of Univest Securities, LLC (“Univest” or the “Lead Manager”) or together
with other broker dealers registered with FINRA and caused by Univest to also act as a manager in connection with the Placement
of the Securities (the “Lead Managers”) to be issued by Code Chain New Continent Limited (the “Company”)
pursuant to the placement agency agreement, dated February 18, 2021, by and between the Company and the Lead Manager(s), as it
may be amended from time to time in writing (the “Agreement”), the Company hereby agrees as follows (capitalized terms
used herein without definition shall have the meanings ascribed to such terms in the Agreement):

 

1. To
the extent permitted by law, the Company shall indemnify the Lead Manager(s) and each of their respective affiliates, directors,
officers, employees, agents and controlling persons (within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) against all joint or several losses, claims, damages, expenses and liabilities (or actions, including shareholder
actions, in respect thereof), as the same are incurred (including the reasonable fees and expenses of counsel), relating to or
arising out of its activities hereunder or pursuant to the Agreement, including, without limitation, those which arise out of
or are based on (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement
(or any amendment thereto), including the information deemed to be a part of the Registration Statement at the time of effectiveness
and at any subsequent time pursuant to Rules 430A and 430B of the Securities Act and the rules and regulations thereunder, as
applicable, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make
the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in any
Prospectus or Prospectus Supplement (or any amendment or supplement to any of the foregoing) or the omission or alleged omission
therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading, (iii) any untrue statement or alleged untrue statement of a material fact contained in any materials
or information provided to investors by, or with the approval of, the Company in connection with the marketing of the offering
of the Securities, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically)
or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading, or (iv) in whole or in part any inaccuracy in any material respect
in the representations and warranties of the Company contained herein or in the Purchase Agreement; provided however, with regard
to the Lead Managers, the Company shall not be obligated to indemnify the Lead Manager(s) or such other person or entities under
this Section 1 to the extent that any losses, claims, damages, expenses or liabilities (or actions in respect thereof) are found
in a final judgment (not subject to appeal) by a court of competent jurisdiction to have resulted primarily and directly from
the willful misconduct or gross negligence of the Lead Manager(s) in performing the services described herein, as the case may
be. The Company also agrees that no Lead Manager shall have any liability (whether direct or indirect, in contract or tort or
otherwise) to the Company or its security holders or creditors related to or arising out of the engagement of the Lead Manager(s)
pursuant to, or the performance by the Lead Manager(s) of the services contemplated by, this Agreement except to the extent that
any loss, claim, damage or liability is found in a final, non-appealable judgment by a court of competent jurisdiction to have
resulted primarily from the willful misconduct or gross negligence of the Lead Manager(s).

  

2. Promptly
after receipt by the Lead Manager(s) of notice of any claim or the commencement of any action or proceeding with respect to which
the Lead Manager(s) are entitled to indemnity hereunder, the Lead Manager(s) will notify the Company in writing of such claim
or of the commencement of such action or proceeding, and the Company will assume the defense of such action or proceeding and
will employ counsel reasonably satisfactory to the Lead Manager(s) and will pay the fees and expenses of such counsel. Notwithstanding
the preceding sentence, the Lead Manager(s) will be entitled to employ counsel separate from counsel for the Company and from
any other party in such action if counsel for the Lead Manager(s) reasonably determines that it would be inappropriate under the
applicable rules of professional responsibility for the same counsel to represent both the Company and the Lead Manager(s).
In such event, the reasonable fees and disbursements of no more than one such separate counsel will be paid by the Company. The
Company will have the exclusive right to settle the claim or proceeding provided that the Company will not settle any such claim,
action or proceeding without the prior written consent of the Lead Manager(s), which will not be unreasonably withheld.

 

    13

     

    

 

3. The
Company agrees to notify the Lead Manager(s) promptly of the assertion against it or any other person of any claim or the commencement
of any action or proceeding relating to a transaction contemplated by the Agreement.

 

4. If
for any reason the foregoing indemnity is unavailable to the Lead Manager(s) or insufficient to hold such Lead Manager(s) harmless,
then the Company shall contribute to the amount paid or payable by the Lead Manager(s), as the case may be, as a result of such
losses, claims, damages or liabilities in such proportion as is appropriate to reflect not only the relative benefits received
by the Company on the one hand, and the Lead Manager(s) on the other, but also the relative fault of the Company on the one hand
and the Lead Manager(s) on the other that resulted in such losses, claims, damages or liabilities, as well as any relevant equitable
considerations. The amounts paid or payable by a party in respect of losses, claims, damages and liabilities referred to above
shall be deemed to include any legal or other fees and expenses incurred in defending any litigation, proceeding or other action
or claim. Notwithstanding the provisions hereof, the share of the liability of the Lead Manager(s) hereunder shall not be in excess
of the amount of fees actually received, or to be received, by the Lead Manager(s) under the Agreement (excluding any amounts
received as reimbursement of expenses incurred by the Lead Manager(s) t).

 

5. These
Indemnification Provisions shall remain in full force and effect whether or not the transactions contemplated by the Agreement
are completed and shall survive the termination of the Agreement, and shall be in addition to any liability that the Company might
otherwise have to any indemnified party under the Agreement or otherwise.

 

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    14

     

    

 

	  
	Very truly yours,
	 	 	 
	 	UNIVEST SECURITIES, LLC
	 	 	 
	 	By:	/s/
    Edric Yi Guo
	 	 	Name:  	Edric
    Yi Guo
	 	 	Title:	COO and Head of Investment Banking

 

	 	Address for notice:  
	 	 
	 	375 Park Avenue, Unit 1502  
	 	New York, New York 10152    
	 	Attention: Edric Guo Email: yguo@univest.us  

 

	Accepted
    and Agreed to as of	 
	the
    date first written above:	 
	 	 	 
	CODE
    CHAIN NEW CONTINENT LIMITED	 
	 	 	 
	By:	/s/
    Weidong (David) Feng 	 
	 	Name:	Weidong (David) Feng	 
	 	Title:	Co-Chief Executive Officer
    	 
	 	 	 
	 	Address
        for notice:

         

        No
        2020 Zhongshanxi Road

        Room 502A40

        Xuhui District, Shanghai, China 200030

        Attention:
        Weidong (David) Feng

        Co-Chief
        Executive Officer

        Phone:

             +86-0513-8912-3630

        Email:
        feng@ccnctech.com
	 

 

[Signature
Page to Indemnification Provisions

Pursuant
to February 18, 2021 Placement Agency Agreement

by
and between Univest Securities, LLC and Code Chain New Continent Limited]

 

    15

     

    

 

SCHEDULE
I

 

Schedule
of Directors, Officers and 10% Shareholders Subject to Lock-Up:

 

	Yimin
    Jin	 	Co-Chief
    Executive Officer and Co-Chairman of the Board
	 	 	 
	Wei
    Xu	 	Co-Chairman
    of the Board and President
	 	 	 
	Weidong
    (David) Feng	 	Co-Chief
    Executive Officer
	 	 	 
	Jianing
    (George) Yu	 	Chief
    Operating Officer
	 	 	 
	Yi
    Li	 	Chief
    Financial Officer
	 	 	 
	Bibo
    Lin	 	Vice
    President
	 	 	 
	Qihai
    Wang	 	Director
	 	 	 
	Mingyue
    Cai	 	Director
	 	 	 
	Jin
    Wang	 	Director
	 	 	 
	Yajing
    Li	 	Director
	 	 	 
	Fei
    Gan	 	Director
	 	 	 
	 	 	 

 

    16

     

    

 

EXHIBIT
B

 

Form
of Lock-Up Agreement

 

Attached

 

 

 

 

 

17

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