Document:

EXHIBIT 10.2

 

LOCK-UP AGREEMENT

THIS LOCK-UP AGREEMENT
(this “Agreement”) is made and entered into as of March 10, 2020, by and among (i) Lion Group Holding
Ltd., a Cayman Islands exempted company (“Pubco”), (ii) Shih-Chung Chou, 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 or about the date hereof, Proficient Alpha Acquisition Corp., a Nevada corporation (“Purchaser”),
the Purchaser Representative, Pubco, Lion MergerCo 1, Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (“Merger
Sub”), Lion Financial Group Limited, a corporation organized under the laws of the British Virgin Islands (the “Company”),
Wang Jian and Legend Success Ventures Limited, each in the capacity thereunder as the Seller Representative, and the shareholders
of the Company named as Sellers therein (the “Sellers”), including 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 the Sellers 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,
as of the date hereof, Holder is a Seller under the Business Combination Agreement and a holder of the Company 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 in the Share Exchange,
including the Escrow Shares and any additional Exchange Shares issued after the Closing pursuant to Section 2.5 of the Business
Combination Agreement (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.

 

    	 	 (1)	 

    	 	 	 

    

 

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 not to, during the period (the “Lock-Up Period”) commencing from the Closing
and ending on the earlier of (x) the six (6) month anniversary of the date of the Closing, and (y) the date after the Closing on
which Pubco consummates a liquidation, merger, share exchange or other similar transaction with an unaffiliated third party that
results in all of Pubco’s stockholders having the right to exchange their equity holdings in Pubco for cash, securities or
other property: (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 upon the liquidation and dissolution of 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, a Holder may pledge its Restricted Securities
to a third party during the Lock-up Period, provided that the party to whom the Restricted Securities are pledged acknowledges
and agrees in writing that the Restricted Securities are subject to this Agreement and that such third party shall not be entitled
to enforce its rights and remedies with respect to the Restricted Securities, including, without limitation, the right to vote,
sell or take ownership of such Restricted Securities, until after the Lock-Up Period.

(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 Lock-Up Period.

 

    	 	 (2)	 

    	 	 	 

    

 

(d)               
During the Lock-Up Period (and with respect to any Escrow Shares, if longer, during the period when such Escrow Shares are
held in the Escrow Account), each certificate evidencing any Restricted Securities 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 MARCH 10, 2020, 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.”

(e)               
For the avoidance of any doubt, Holder shall retain all of its rights as a stockholder of Pubco with respect to the Restricted
Securities during the Lock-Up Period, including the right to vote any Restricted Securities, but subject to the obligations under
the Business Combination Agreement and the Escrow Agreement.

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 Delaware, 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 the Court
of Chancery of the State of Delaware, or to the extent such Court does not have subject matter jurisdiction, any federal court
within the State of Delaware (and any courts having jurisdiction over appeals therefrom) (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(g). 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.

 

    	 	 (3)	 

    	 	 	 

    

 

(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).

(f)                
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 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.

(g)               
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) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv)
three (3) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, 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:

        Shih-Chung Chou

        Room 2306, G13, Wan Ke Jin Se Meng Xiang, Luo Gang Huangpu District,
        Guangzhou, China, 51000

        Telephone No.: +8613901935428

        Email: Watson.chou@paac-us.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.

        Matthew A. Gray, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email: bigrossman@egsllp.com

        mgray@egsllp.com

	
        If to Pubco at or prior to the Closing:

        Lion Financial Group Limited

        Unit A-C, 33/F, Tower A, Billion Center, 1 Wang Kwong Road,            

        Kowloon Bay, Hong Kong

        Attention: Wang Jian / Wilson Wang / Rover Luo / Alex Lee

        Facsimile No.:  +852 2796 2338

        Telephone No.:  +852 2820 9088 / +852 9690 0900 / +852 2820 9001 / +852 2820 9099

        Email:  *** / *** / rover.luo@libkr.com
        / alex.lee@libkr.com

        and

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

        Kirkland & Ellis LLP

        601 Lexington Avenue

        New York, NY 10022

        Attn: James Hu; Christian Nagler

        Facsimile No.: +1 (212) 446-6460

        Telephone No.: +1 (212) 909-3341

        Email:james.hu@kirkland.com; cnagler@kirkland.com

        and

        Kirkland & Ellis International LLP

        26th Floor, Gloucester Tower, The Landmark

        15 Queen's Road Central

        Hong Kong

        Attn: Ben James

        Facsimile No.: +852-3761-3301

        Telephone No.: +852-3761-3412

        Email:ben.james@kirkland.com

        and

        the Purchaser Representative (and its copy for notice hereunder)

 

 

    	 	 (4)	 

    	 	 	 

    

 

	
        If to Pubco after the Closing:

        Lion Group Holding Ltd.

        Unit A-C, 33/F, Tower A, Billion Center, 1 Wang Kwong Road,             Kowloon Bay, Hong Kong

        Attention: Wang Jian / Wilson Wang / Rover Luo / Alex Lee

        Facsimile No.:  +852 2796 2338

        Telephone No.:  +852 2820 9088 / +852 9690 0900 / +852 2820 9001 / +852 2820 9099

        Email:  *** / *** / rover.luo@libkr.com / alex.lee@libkr.comand

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

        Kirkland & Ellis LLP

        601 Lexington Avenue

        New York, NY 10022

        Attn: James Hu; Christian Nagler

        Facsimile No.: +1 (212) 446-6460

        Telephone No.: +1 (212) 909-3341

        Email:james.hu@kirkland.com; cnagler@kirkland.com

        and

        Kirkland & Ellis International LLP

        26th Floor, Gloucester Tower, The Landmark

        15 Queen's Road Central

        Hong Kong

        Attn: Ben James

        Facsimile No.: +852-3761-3301

        Telephone No.: +852-3761-3412

        Email:ben.james@kirkland.com

        and

        the Purchaser Representative (and its copy for notice hereunder)

	
        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:

        Kirkland & Ellis LLP

        601 Lexington Avenue

        New York, NY 10022

        Attn: James Hu; Christian Nagler

        Facsimile No.: +1 (212) 446-6460

        Telephone No.: +1 (212) 909-3341

        Email:james.hu@kirkland.com; cnagler@kirkland.com

        and

        Kirkland & Ellis International LLP

        26th Floor, Gloucester Tower, The Landmark

        15 Queen's Road Central

        Hong Kong

        Attn: Ben James

        Facsimile No.: +852-3761-3301

        Telephone No.: +852-3761-3412

        Email:ben.james@kirkland.com

(h)               
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.

 

    	 	 (5)	 

    	 	 	 

    

 

(i)                
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.

(j)                
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 (and the Purchaser Representative
on behalf of 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.

(k)               
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.

(l)                
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.

(m)             
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}

 

    	 	 (6)	 

    	 	 	 

    

 

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

 

	 	 	Pubco:

	 	 	 
	 	 	 	 	 	 
	 	 	LION GROUP
        HOLDING LTD.

	 	 	 
	 	 	 	 	 	 
	 		By: /s/ Wang Jian	 	 	 
	 		Name: Wang Jian	 	 	 
	 		Title: Director	 	 	 

 

	 	 	The Purchaser
                           Representative:

	 	 	 
	 	 	 	 	 	 
	 	 	/s/ Shih-Chung Chou	 	 	 
	 	 	 	 	 	 
	 	 	Shih-Chung Chou, solely in the capacity
        under the Business Combination Agreement as the Purchaser Representative

	 	 	 

 

 

 

{Additional Signature on the Following
Page}

 

 

    	 	 (7)	 

    	 	 	 

    

 

 

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

 

	Holder:	 
	 	 
	Name of Holder: Legend Success Ventures Limited	 
	 	 
	By: /s/ Wang Chunning	 
	Name: Wang Chunning	 
	Title: Director	 

 

 

	Number and Type of Company Shares Owned:	 
	 	 
	Company Ordinary Shares:	 
	 	 
	 	 
	Address for Notice:	 
	 	 
	Address:	 
	 	 
	 	 
	 	 
	 	 
	Facsimile No:	 
	 	 
	 	 
	Telephone No:	 
	 	 
	 	 
	Email:	 
	 	 

 

 

    	 	 (8)EXHIBIT 10.3

  

NON-COMPETITION AND NON-SOLICITATION
AGREEMENT

THIS NON-COMPETITION
AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as of March 10, 2020,
by the undersigned security holder of the Company (as defined below) (the “Subject Party”) in favor of
and for the benefit of Lion Group Holding Ltd., a Cayman Islands exempted company (“Pubco”), Proficient
Alpha Acquisition Corp., a Nevada corporation (together with its successors, including the Surviving Corporation (as defined
in the Business Combination Agreement) “Purchaser”), Lion Financial Group Limited, a corporation
organized under the laws of the British Virgin Islands (the “Company”), and each of Pubco’s, Purchaser’s
and/or the Company’s respective present and future Affiliates, successors and direct and indirect Subsidiaries (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 or about
the date hereof, (i) Purchaser, (ii) Shih-Chung Chou, in the capacity as the Purchaser Representative thereunder, (iii) Pubco,
(iv) Lion MergerCo 1, Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (“Merger Sub”),
(v) the Company, (vi) Wang Jian and Legend Success Ventures Limited, each in the capacity thereunder as the Seller Representative,
and (vii) the shareholders of the Company named as Sellers therein (the “Sellers”), 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 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 Company Shares from the Sellers in exchange for ordinary shares of Pubco (the “Share
Exchange” and, collectively with the Merger and the other transactions contemplated by the Business Combination Agreement,
the “Transactions”), 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 consummation of the Transactions, Pubco), directly and indirectly through its Subsidiaries, engages in the business
of providing contract-for-difference trading service, insurance brokerage service, futures brokerage service, securities brokerage
service and asset management service based in the Cayman Islands and Hong Kong (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 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 former and/or current shareholder, director, officer and/or employee of the Company or its Subsidiaries (and after
the Transactions, Pubco), has contributed to the value of the Company and its Subsidiaries and has obtained extensive and valuable
knowledge and confidential information concerning the business of the Company and its Subsidiaries (and after the Transactions,
Pubco).

 

    	 	 (1)	 

    	 	 	 

    

 

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”), the Subject Party will not, and will cause
its Affiliates not to, without the prior written consent of Pubco (which may be withheld in its sole discretion), anywhere in the
Cayman Islands, the British Virgin Islands, Hong Kong, Singapore, and People’s Republic of China or in any other markets
in which the Covered Parties are engaged in the Business as of the Closing Date or during the Restricted Period (the “Territory”),
directly or indirectly engage in the Business (other than through a Covered Party) or own, manage, finance or control, or become
engaged or serve as an officer, director, member, partner, employee, agent, consultant, advisor or representative 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 Affiliates may own passive investments of no more than three percent (3%) of the total
issued and outstanding equity interests of a Competitor that is publicly traded, so long as the Subject Party and its Affiliates
and immediate family members are not directly or indirectly involved in the management or control of such Competitor (“Permitted
Ownership”).

(b)               
Acknowledgment. The Subject Party acknowledges and agrees, based upon the advice of legal counsel and/or the Subject
Party’s own education, experience and training, that (i) the Subject Party 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, Pubco and the Company 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 Affiliates will receive a substantial
direct or indirect financial benefit, and that Purchaser, Pubco and the Company 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/or its 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 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 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 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.

 

    	 	 (2)	 

    	 	 	 

    

 

2.                  
No Solicitation; No Disparagement.

(a)               
No Solicitation of Employees and Consultants. The Subject Party agrees that, during the Restricted Period, the Subject
Party will not, and will not permit its Affiliates to, 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 the Subject Party’s duties on behalf of the Covered Parties), directly or indirectly: (i) hire or engage as
an employee, independent contractor, consultant or otherwise any Covered Personnel (as defined below); or (ii) solicit, induce,
encourage or otherwise knowingly cause (or knowingly 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; provided, however, the Subject
Party and its Affiliates will not be deemed to have violated this Section 2(a) if any Covered Personnel voluntarily and
independently solicits an offer of employment from the Subject Party or its 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
its 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, so long as such Covered Personnel is not hired. For purposes of this Agreement, “Covered
Personnel” shall mean any Person who is or was an employee, consultant or independent contractor of a Covered Party
between the date of this Agreement and the end of the Restricted Period, excluding with respect to consultants and independent
contractors any professional service providers.

(b)               
Non-Solicitation of Customers and Suppliers. The Subject Party agrees that, during the Restricted Period, the Subject
Party will not, and will not permit its Affiliates to, 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 the Subject Party’s duties on behalf of the Covered Parties), directly or indirectly: (i) solicit, induce, encourage or
otherwise knowingly cause (or knowingly attempt to do any of the foregoing) any Covered Customer (as defined below) to (A) cease
being 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 knowingly 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 knowingly attempt
to interfere with or disrupt), any Person (other than the Subject Party) 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
(other than the Subject Party) who is or was an actual customer or client of a Covered Party between the date of this Agreement
(including any customers or clients that used a Covered Party’s services during the one (1) year period prior thereto) and
the end of the Restricted Period.

(c)               
Non-Disparagement. The Subject Party agrees that from and after the Closing until the end of the Restricted Period,
the Subject Party will not, and will not permit its Affiliates to, directly or indirectly engage in publicly making 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 disparaging, deleterious
or damaging to the integrity or reputation of one or more Covered Parties or their respective management or officers. Notwithstanding
the foregoing, subject to Section 3 below, the provisions of this Section 2(c) 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, arbitration or other similar proceedings between the Subject Party or its Affiliate and any Covered Party
under this Agreement, the Business Combination Agreement, any other Ancillary Document or other matters that is asserted by the
Subject Party or its Affiliate in good faith.

 

    	 	 (3)	 

    	 	 	 

    

 

3.                  
Confidentiality. During the Restricted Period and for a period of two (2) years thereafter, the Subject Party will,
and will cause its Representatives to, keep confidential and not (except, as required by applicable Law (subject to the provisions
of this Section 3 below) or, if applicable, in the performance of the Subject Party’s duties on behalf of the Covered
Parties) directly or indirectly use, disclose, reveal, publish 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 relating to the business, 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, customers or
other third parties; and (B) intended and maintained by such Covered Party or its Representatives, suppliers, service providers,
customers or other third parties to be kept in confidence; provided that Covered Party Information shall not include any information
that: (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; (iv) is developed
independently by the Subject Party without use of or reference to any Covered Party Information; (v) relates solely to the Subject
Party and other than in his capacity as a director, officer or equity holder of a Covered Party, or (v) is required to be disclosed
pursuant to an order of any administrative body or court or any other Governmental Authority of competent jurisdiction (provided
that (A) to the extent legally permitted, 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 at the Covered Party’s cost 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 or posting bond or security, which the Subject
Party expressly waives; and (ii) recovery of the Covered Party’s attorneys’ fees and costs reasonably incurred in enforcing
the Covered Party’s rights under this Agreement. 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 Sections 1, 2 and 3 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) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv)
three (3) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, 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:

        Proficient Alpha Acquisition Corp.

        40 Wall Street, 29th Floor

        New York, NY 10005

        Attn: Kin Sze, Co-Chief Executive Officer

        Telephone No.: (917) 289-0932

        Email: stephen@paac-us.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.

        Matthew A. Gray, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email:bigrossman@egsllp.com

        mgray@egsllp.com

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

        Lion Financial Group Limited

        Unit A-C, 33/F, Tower A, Billion Center, 1 Wang Kwong Road, Kowloon Bay, Hong Kong

        Attention: Wang Jian / Wilson Wang / Rover Luo / Alex Lee

        Facsimile No.:  +852 2796 2338

        Telephone No.:  +852 2820 9088 / +852 9690 0900 / +852 2820 9001 / +852 2820 9099

        Email:  *** / *** / rover.luo@libkr.com
        / alex.lee@libkr.com
	
        with a copy (that will not constitute
        notice) to: 

        Kirkland & Ellis LLP

        601 Lexington Avenue

        New York, NY 10022

        Attn: James Hu; Christian Nagler

        Facsimile No.: +1 (212) 446-6460

        Telephone No.: +1 (212) 909-3341

        Email:james.hu@kirkland.com;

        cnagler@kirkland.com

        and

        Kirkland & Ellis International LLP

        26th Floor, Gloucester Tower, The Landmark

        15 Queen's Road Central

        Hong Kong

        Attn: Ben James

        Facsimile No.: 852-3761-3301

        Telephone No.: +852-3761-3412

        Email: ben.james@kirkland.com

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

        Lion Financial Group Limited

        Unit A-C, 33/F, Tower A, Billion Center, 1 Wang Kwong Road, Kowloon Bay, Hong Kong

        Attention: Wang Jian / Wilson Wang / Rover Luo / Alex Lee

        Facsimile No.:  +852 2796 2338

        Telephone No.:  +852 2820 9088 / +852 9690 0900 / +852 2820 9001 / +852 2820 9099

        Email:  *** / *** / rover.luo@libkr.com
        / alex.lee@libkr.com
	
        with a copy (that will not constitute
        notice) to: 

        Kirkland & Ellis LLP

        601 Lexington Avenue

        New York, NY 10022

        Attn: James Hu; Christian Nagler

        Facsimile No.: +1 (212) 446-6460

        Telephone No.: +1 (212) 909-3341

        Email:james.hu@kirkland.com;

        cnagler@kirkland.com

        and

        Kirkland & Ellis International LLP

        26th Floor, Gloucester Tower, The Landmark

        15 Queen's Road Central

        Hong Kong

        Attn: Ben James

        Facsimile No.: 852-3761-3301

        Telephone No.: +852-3761-3412

        Email: ben.james@kirkland.com

	If to the Subject Party, to: 

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

    	 	 (5)	 

    	 	 	 

    

(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 and its Affiliates, 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 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 Affiliate and any of the Covered Parties limit or otherwise affect any right or remedy of the
Covered Parties under this Agreement. If any term or condition of any other agreement between the Subject Party or its Affiliate
and any of the Covered Parties conflicts or is inconsistent with the terms and conditions of this Agreement, the more restrictive
terms will control as to the Subject Party or its Affiliate, as applicable.

(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.

(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, a majority of the Disinterested Independent Directors (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, a majority of the Disinterested
Independent Directors) 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)               
Governing Law; Dispute Resolution. This Agreement shall be governed by, construed and enforced in accordance with
the laws of Hong Kong Special Administrative Region without regard to the conflict of laws principles thereof. Any dispute, controversy,
difference or claim arising out of or relating to this Agreement, including the existence, validity, interpretation, performance,
breach or termination hereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred
to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered
Arbitration Rules in force when the Notice of Arbitration is submitted. The seat of arbitration shall be Hong Kong. The number
of arbitrators shall be three and the arbitration proceedings shall be conducted in Chinese (Mandarin).

 

    	 	 (6)	 

    	 	 	 

    

 

(f)                
Successors and Assigns; Third Party Beneficiaries. This Agreement will be binding upon the Subject Party, 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; provided that the obligations of the Subject Party hereunder are not expanded in any respect. 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.

(g)               
Authorization to Act on Behalf of Covered Parties. The parties acknowledge and agree that from and after the Closing
the Disinterested Independent Directors, by a majority of the Disinterested Independent Directors, 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. For purposes
of this Agreement, a “Disinterested Independent Director” means an independent director serving on Pubco's
board of directors at the applicable time of determination that is disinterested in this Agreement (i.e., such independent director
is not the Subject Party, an Affiliate of the Subject Party, or an officer, director, manager, employee, trustee or beneficiary
of the Subject Party or its Affiliate, nor an immediate family member of any of the foregoing). 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.

(h)               
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”; (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; and (viii) the term “Affiliate”
as used in respect of the Subject Party does not include any of the Covered Parties.

(i)                
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.

(j)                
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, this Agreement shall automatically
terminate and become null and void ab initio, and the parties shall have no obligations hereunder.

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

    	 	 (7)	 

    	 	 	 

    

 

 

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:	 	 	 
	 	 	 	 	 	 
	 	 	Wang Jian	 	 	 
	 	 	 	 	 	 
	 	 	By: /s/ Wang Jian	 	 	 
	 	 	Name: Wang Jian	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	Address for Notice:			 
	 	 	 	 	 	 
	 	 	Address:	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	Facsimile:	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	Telephone:	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	Email:	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

 

 

    	 	 (8)	 

    	 	 	 

    

Acknowledged and accepted
as of the date first written above:

	Pubco:

	 
	 	 
	LION GROUP
        HOLDING LTD.

	 
	 	 
	By: /s/ Wang Jian	 
	Name: Wang Jian	 
	Title: Director	 

	Purchaser:	 
	 	 
	 PROFICIENT ALPHA ACQUISITION CORP.	 
	 	 
	By: /s/ Kin Sze	 
	Name: Kin Sze	 
	Title: Chief Executive Officer	 

 

	The Company:	 
	 	 
	 LION FINANCIAL GROUP LIMITED	 
	 	 
	By: /s/ Wang Jian	 
	Name: Wang Jian	 
	Title: DIrector	 

 

    	 	 (9)

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