Document:

Exhibit 10.1

EXCLUSIVE LICENSE
AGREEMENT

 

This Agreement (the “Agreement”)
is made this 8th day of February 2018, by and between ZK International Group Co., Ltd., a British Virgin Islands company (“ZK
International”) and XSigma Corporation, also a British Virgin Islands company (“XSigma”, collectively
the “Licensee”), and TNT Blockchain Inc., a Delaware corporation with its principal place of business at 1209
Orange Street, City of Wilmington, County of New Castle, Delaware 19801 (the “Licensor”).

 

RECITALS

 

WHEREAS, the ZK International, through operation engaged
by its subsidiary Zhejiang Zhengkang Industrial Co., Ltd., is a China-based designer, engineer, manufacturer and supplier of patented
high-performance stainless steel and carbon steel pipe products that requires sophisticated water or gas pipeline systems and it
has significant experience in the supply chain management for its products as well as marketing and distribution of its products
throughout China and Asia;

 

WHEREAS, Licensor has the global exclusive right to market
and sell the applications, including but without limitation to TIMS and EMS (Software), the Track and Trace Applications, the IoTs,
and the implementation of the Blockchain technology into the Supply chain management system as outlined in Schedule A attached
hereto (collectively, the “Application IP”);

 

WHEREAS, Licensor desires to license the Application
IP to the Licensee; and

 

WHEREAS, Licensee desires to obtain a license to use
the market segment of Industrial Manufacturing Vertical (as defined below) of any type; to utilize such Application IP, and to
make customizations, updates and/or corrections;

 

WHEREAS, Licensor desires that the Application IP be
marketed and sold globally with the commitment of Licensee to designate resources to hire personnel and to set up local operations
worldwide with designated resources solely for the marketing and selling of the Application IP and Licensee desires to hire the
appropriate personnel to implement the Application IP, produce marketing and sales distribution materials for, marketing and selling
the Application IP, all on the terms and conditions set forth below;

 

WHEREAS, Licensee has the right to market and sell
the Application IP globally in the market segment limited to the Industrial Manufacturing Vertical;

 

WHEREAS, for the good and valuable consideration,
the receipt of which is hereby acknowledged, Licensor is willing to license the Application IP to Licensee on an exclusive basis
worldwide; and

 

WHEREAS, Licensee is willing to accept the Application
IP license on an exclusive basis worldwide under the conditions set forth above.

 

NOW, THEREFORE, in consideration of the mutual covenants,
terms and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties agree as follows:

 

		1.	LICENSE

 

		1.1	License Granted. Subject to the terms and conditions of this Agreement and in consideration
of Licensee’s obligation to pay monetary fees as outlined in Schedule B, such fees which may be adjusted from time to time
by mutual written consent of the parties, Licensor hereby grants to Licensee, and Licensee hereby accepts, an exclusive license
to the Application IP and use them in object code form globally for the industrial manufacturing vertical, except for those set
forth in Schedule D and Schedule E (the “Industrial Manufacturing Vertical”).

 

     

     

    

 

		1.2	Exclusive Global Rights. Licensor agrees this agreement would be exclusive to the Licensee
globally and agrees not to enter into any future licensing agreement of any type with any third-parties without the prior written
consent of Licensee with exception to Ching Peng Lor’s and Wei Kat Chiam’s existing business in Asia as set forth
in Schedule D and those industries set forth in Schedule E. 

 

		1.3	Scope of Licensed Use and Restrictions.

 

		1.3.1	Licensee has the right to use, market and sub-license this vertical for the purpose of growing
the Licensee’s customer base if the milestones by the Licensor set forth in Schedule C (the “Milestones”)
are met.

 

		1.3.2	Licensee has the right to assign and/or transfer the Global Exclusive rights in this agreement
with prior written consent of Licensor.

 

		1.3.3	Licensor also grants permission to Licensee to make and create requests for customizations, updates
or corrections to the Application IP. The Parties agree that Licensor shall continue to own all right, title and interest in and
to the Application IP and all intellectual property rights embodied therein or related thereto including, but not limited to, the
source and object codes and any customizations, updates and corrections to the Software. Except as expressly provided herein, no
intellectual property rights are granted to Licensee by implication, estoppel, or otherwise.

 

		1.4	Licensor’s Due Care. Licensor will safeguard the Application IP and its related materials
with that degree of normal due care commensurate with reasonable standards of industrial security for the protection of trade secrets
and proprietary information so that no unauthorized use is made of them and no disclosure of any part of their contents is made
to anyone other than Licensee’s employees, agents or consultants whose duties reasonably require such disclosure, or as necessary
in the ordinary course of business. Further, the Licensor will fully defend any and all infringement of the Patents and the Application
IP by any third party. Licensee shall make all such persons fully aware of their responsibility to fulfill the obligations of Licensee
under this Agreement.

 

		2.	TERM

 

		2.1	Exclusivity is from the date of this agreement and continues for two (2) years (the “Term”)
after the First Production Deployment (as defined below) of the Application IP and shall automatically renew every year for no
more than five (5) years and continue exclusive if the Milestones are met.

 

		2.2	The “First Production Deployment” will occur when Licensee applies the Application
IP, AND that the Application is fully operable and functional with Licensee’s system, meet all applicable specifications
and is accepted by the Licensee in writing through testing and inspections by the Licensee and is clear of any errors, defects,
bugs, glitches, viruses of any kind.

 

		3.	PROPERTY RIGHTS AND RESTRICTIONS ON USE

 

		3.1	Licensee recognizes that the Application IP, and customizations, updates or corrections, if any,
are the property of, and all rights thereto, are owned by Licensor. Licensee also acknowledges that such are a trade secret of
Licensor, are valuable and confidential to Licensor, and that its use and disclosure must be carefully and continuously controlled.
Title to the Application IP, and customizations, updates or corrections, if any, shall at all times remain with Licensor.

 

		3.2	Licensor shall keep the Application IP, and customizations, updates and/or corrections, if any,
free and clear of any claims, liens and encumbrances attributable to the use or possession of the Application IP by Licensee. Any
act of Licensee, whether voluntarily or involuntarily, purporting to create a claim of encumbrance shall be void. The Application
IP is for the sole use of Licensee and shall be used only for the purpose set forth in this Agreement.

 

     

     

    

 

		3.3	Licensee shall treat the Application IP, and customizations, updates and/or corrections, if any,
as confidential and proprietary, and shall protect it in the same manner that it protects the confidentiality of its own information.
While this Agreement is in effect, or while Licensee has custody and possession of the Application IP, Licensee will not:

 

		(a)	provide or make available the Application IP to any person or entity other than employees or contractors
of Licensee who have a need to know consistent with Licensee’s use thereof under this Agreement; or

 

		(b)	create or attempt to create, or permit others to create or attempt to create, by disassembling,
reverse engineering or otherwise, the source program or any part thereof from the object program or other information made available
to Licensee pursuant to this Agreement.

 

		3.4	Licensee agrees to promptly notify Licensor if it obtains information as to any unauthorized possession,
use or disclosure of the Application IP by any person or entity, and further agrees to cooperate with Licensor in protecting Licensor’s
proprietary rights.

 

		3.5	If Licensee, its officers, agents, or employees, breach any provision of this Agreement, such breach
must be cured within thirty (30) days of receipt of Licensor’s written notice describing such breach. If such breach is not
cured within the thirty (30) days after receipt of the notice, Licensee shall pay Licensor reasonable monetary payments for loss
and/or damages caused by such breach.

 

		4.	OWNERSHIP

 

		4.1	Licensor’s trademarks, service marks, copyrights, trade or company names, product and service
identifications, artwork and other symbols and devices associated with the Products, whether registered or unregistered (collectively,
the “Licensor’s Marks”) are and shall remain Licensor’s property. Licensor grants to Licensee an
exclusive license, globally for the Application IP in the Industrial Manufacturing Vertical and for the Term, to Licensor’s
Marks for use by Licensee solely (except to affiliated entities) in accordance with this Agreement.

 

		4.2	Licensee’s trademarks, service markets, copyrights, trade or company names, product and service
identifications, artwork and other symbols and devices associated with the Licensee’s products and services (collectively,
the “Licensee’s Marks”) are and shall remain Licensee’s property.

 

		4.3	The Licensor shall grant use of the domain www.tntblockchainmfg.com to the Licensee during the
Term of the Agreement. However, in the event that the Licensee fails to meet the terms outlined in Schedule B or upon termination
of this Agreement, the said domain will be returned back to the Licensor.

 

		5.	REPRESENTATIONS AND WARRANTIES

 

		5.1	Licensee represents and warrants that:

 

		(a)	It has the right, authority and power to enter into and fully perform its obligations under this
Agreement.

 

		(b)	To the best of Licensee’s knowledge, Licensee’s Marks or any use of them in accordance
with this Agreement will not violate any law, infringe upon the rights of any person or entity, or other cause Licensor to incur
liability to any third party, including, but not limited to, infringement or misappropriation of any copyright, patent, trademark,
trade secret, or other proprietary, property or other right.

 

     

     

    

 

		5.2	Licensor represents and warrants that:

 

		(a)	It has the right, authority and power to enter into and fully perform its obligations under this
Agreement. The performance of Licensor’s obligations hereunder does not and will not result in a breach of, default under,
or conflict with any of the terms or provisions of any agreement or other instrument to which Licensor is a party or by which either
of them are bound, or any statute, order, judgment or other law or ruling of any competent authority;

 

		(b)	To the best knowledge of the Licensor, the use of the initially provided Application IP will not
infringe any patent, copyright, or trademark anywhere in the world.

 

		(c)	It has all intellectual property rights necessary to produce customizations, updates and/or corrections
to the Application IP;

 

		(d)	It owns all right, title and interest in the distribution rights of Application IP and covenants
that it will own all right, title and interest in the distribution of all subsequent Application IP incorporated into this Agreement,
in each case free and clear of any liens or other encumbrances;

 

		(e)	It owns all right, title and interest in and to the Exclusive Global Rights set out in Section
1.2, and is in good standing as at the date hereof and no default has occurred therein;

 

		(f)	It has all intellectual property rights necessary to produce customizations, updates and/or corrections
to the Application IP;

 

		(g)	It does not knowingly infringe the intellectual property rights of any third party worldwide;

 

		(h)	It will make any customizations or enhancements to the Application IP under this Agreement in accordance
with industry standards and in a professional and workman-like fashion;

 

		(i)	At anytime that it makes any core application or Industrial Manufacturing Vertical specific update
or enhancement to the Application IP, the Licensor shall notify the Licensee and shall provide the Licensee with the appropriate
assistance on implementing such update or enhancement;

 

		(j)	Following completion of any customizations or enhancements to the Application IP, such will remain
free from material programming errors and defects in workmanship and materials, and will substantially conform to the specifications
and any related documentation for one hundred and eighty (180) days (“Warranty Period”). If error or defect
is discovered during the Warranty Period, Licensor shall promptly cure such defects at no additional expense to Licensee. Licensee
may terminate this Agreement without no considerations will be due if the Licensor fails to fully cure the defect within thirty
(30) days of the notice provided by the Licensee.

 

		(k)	It is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware and has the requisite corporate power and authority to own, lease and to carry on its business as now being conducted.
Licensor is duly qualified to do business and is in good standing as a corporation in each of the jurisdictions in which Licensor
owns property, leases property, does business, or is otherwise required to do so, where the failure to be so qualified would have
a material adverse effect on the business of Licensor taken as a whole;

 

		(l)	It does not have any material Liabilities, obligations or commitments, either direct or indirect,
matured or unmatured, absolute, contingent or otherwise that exceed $1,000;

 

		(m)	It has the financial wherewithal and the capacity to perform its obligations hereunder and to continue
to update, upgrade, and continue developing Application IP during the Term.

 

		(n)	Licensor has not granted and will not at any time during the Term grant any license or other contingent
or non-contingent right, title or interest under or relating to the Application IP that does or will conflict with or otherwise
affect this Agreement, including any of Licensor’s representations, warranties or performance or Licensee’s rights
or licenses hereunder.

 

     

     

    

 

		(o)	There is no settled, pending, or threatened litigation, claim or proceeding that will have an adverse
effect on the Application IP or the performance of this Agreement.

 

		6.	CONFIDENTIALITY

 

Each party
agrees and shall cause its employees, if any, to agree to hold all Confidential Information (as hereinafter defined) in trust and
confidence and, except as may be authorized by the other party in writing, shall not use any such Confidential Information for
any purpose other than as expressly set forth in this Agreement or disclose any Confidential Information to any person, company
or entity. As used herein, “Confidential Information” shall mean any information relating to or disclosed during the
Term that is or should reasonably be understood to be confidential or proprietary to either party, including, but not limited to,
data and information concerning the parties’ consumers and/or members, the material terms and conditions of this Agreement,
technical processes, source code, business plans, projections, and marketing data. Notwithstanding the foregoing, information shall
not be deemed Confidential Information hereunder if such information: (i) is known to the receiving party prior to receipt from
the disclosing party directly or indirectly from a source other than one having an obligation of confidentiality to the disclosing
party; (ii) becomes known (independently of disclosure by the disclosing party) to the receiving party directly or indirectly from
a source other than one having an obligation of confidentiality to the disclosing party; (iii) becomes publicly known or otherwise
publicly available, except through a breach of this Agreement by the receiving party; or (iv) is independently developed by the
receiving party by personnel without access to the Confidential Information. The receiving party may disclose Confidential Information
pursuant to the requirements of applicable law, legal process or government regulation, provided that it gives the disclosing party
reasonable prior written notice to permit the disclosing party to contest such disclosure, and such disclosure is otherwise limited
to the required disclosure.

 

		7.	TERMINATION

 

		7.1	Termination For Cause. Either party may terminate this Agreement if: (i) the other party breaches
any material term or condition of this Agreement and fails to cure such breach within twenty- one (21) business days after receipt
of written notice of the breach; (ii) the other party becomes the subject of a voluntary petition in bankruptcy or any voluntary
proceeding relating to insolvency, receivership, liquidation, or composition for the benefit of creditors; or (iii) the other party
becomes the subject of an involuntary petition in bankruptcy or any involuntary proceeding relating to insolvency, receivership,
liquidation, or composition for the benefit of creditors, if such petition or proceeding is not dismissed within sixty (60) days
of filing. Any consideration paid to the Licensor shall be refunded pro-rated to the Licensee if the Licensor was terminated for
cause.

 

		7.2	Effect of Termination. Upon the effective date of the termination of this Agreement, Licensee shall
cease running any marketing efforts and stop selling the Application IP, subject to any existing contractual obligations for the
Application IP and sales related thereto. Within thirty (30) days of any termination or expiration of this Agreement, each party
will return all Confidential Information of the other party in its possession and will not make or retain any copies of such Confidential
Information except as required to comply with any applicable legal or accounting record keeping requirement.

 

		8.	INDEMNIFICATION AND LIMITATION OF LIABILITY

 

		8.1	Licensor agrees to indemnify and hold Licensee harmless from and against all loss, cost, expense
or liability (including reasonable attorney’s fees) arising out of a claim by a third party against Licensee based upon Licensee’s
use of the Application IP to the extent of the value equal to such consideration paid by the Licensee, whether such damages would
arise as a result of breach of contract, tort, infringement or otherwise.

 

		8.2	Licensor agrees to indemnify, defend at its expense, and hold harmless Licensee, its officers,
directors, employees, shareholders, legal representatives, agents, successors and assigns (each a “Licensee Indemnitee”)
from and against any and all losses incurred by the Licensee Indemnitee resulting from any action by a third party to the extent
of the value equal to such consideration paid by the Licensee:

 

     

     

    

 

		(a)	that the Application IP, or any use of the Application IP, and its customizations, updates and/or
corrections in accordance with this Agreement, infringes or misappropriates such third party’s intellectual property rights;

 

		(b)	Licensor’s breach of any representation, warranty, covenant, or obligation of Licensor under
this Agreement (including any action or failure to act by any Licensor that, if taken or not taken by Licensor, would constitute
such a breach by Licensor); or

 

		(c)	any action or failure to take a required action or more culpable act or omission (including recklessness
or willful misconduct) in connection with the performance of the use and distribution of the Application IP, or other activity
required of, or performed by or on behalf of, Licensor under this Agreement.

 

		8.3	Obligations set forth herein are contingent upon the other party:

 

		(a)	Providing the indemnifying party with prompt written notice of any action brought against the other
party; and

 

		(b)	Cooperating with the indemnifying party in the defense of any such action, and allowing the indemnifying
party to control the defense and settlement of any such action at its expense, provided however, Licensor shall not settle
any action on any terms or in any manner that adversely affects the rights of Licensee without Licensee’s prior written consent.

 

		8.4	Licensor and Licensee shall each cover 50% of the total cost of any insurance policy deemed necessary
by the Licensee to cover any potential liability.

 

		9.	FORCE MAJUERE

 

Either party
shall be excused from failures or delays in delivery or performance hereunder if such failure or delay is attributable to causes
beyond the reasonable control of the party, which makes such performance or delivery commercially impractical. In the event of
any such delay, the time of delivery or performance and time of payment shall be extended for a period of time equal to the time
lost by reason of such delay (unless otherwise specified in writing between the parties hereto).

 

		10.	NOTICES

 

All notices
shall be in writing and shall be deemed to be delivered when deposited in the United States Postal Services, postage prepaid, return
receipt requested, or when sent by any other express document service, email, but not facsimile. All notices shall be directed
to Licensee or to Licensor, its successors or assigns, at the respective addresses set forth on the signature page of this Agreement
or to such other address as one party may, from time to time, designate by notice to the other party.

 

		11.	RELATIONSHIP OF THE PARTIES

 

The parties
to this Agreement are not affiliated companies and this Agreement will not establish any relationship of partnership, joint venture,
employment, franchise, or agency between the Parties. Neither Party will have the power to bind the other or incur obligations
on the other’s behalf without the other’s prior written consent.

 

		12.	PUBLICITY

 

A public press
announcement related this Agreement may be made, but only if mutually agreed to in writing by the Parties.

 

     

     

    

 

		13.	WAIVER

 

No waiver
of any breach of any provision of this Agreement shall constitute a waiver of any prior, concurrent or subsequent breach of the
same or any other provision hereof, and no waiver shall be effective unless made in writing and signed by an authorized representative
of the waiving Party.

 

		14.	ENTIRE AGREEMENT

 

		14.1	This Agreement constitutes the complete and exclusive statement of this agreement between the parties
hereto and supersedes any and all prior express implied agreements or understandings between the parties hereto concerning the
subject matter hereof. No amendment, waiver or other alteration of this Agreement may be made except by mutual agreement in writing.

 

		14.2	If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not be affected thereby and the parties shall negotiate
replacement provisions for those provisions which are held invalid, illegal or unenforceable which as closely as possible express
the intent of those provisions.

 

		15.	RESTRICTIONS OF TRANSFER

 

This Agreement
and the rights and obligations under this Agreement shall be assignable and transferrable to any other person, firm or corporation
by Licensee only with the express prior written consent of the Licensor. The rights and obligations of this Agreement shall insure
to the benefit of and be binding upon the parties hereto, their successors and permitted assigns.

 

		16.	GOVERNING LAW

 

This Agreement
is governed by the laws of the State of New York and the federal laws of the United States applicable therein. The Parties, in
its personal or corporate capacity and irrevocably attorns to the jurisdiction of the state and federal courts located in New York
County, New York. Each party agrees that the state and federal courts located in New York County, New York shall be the exclusive
jurisdiction for settling all disputes hereunder.

 

		17.	NO CONSTRUCTION AGAINST THE DRAFTER

 

The parties
agree that this Agreement is the result of careful negotiations between sophisticated parties and thus any principle of construction
or rule of law that provides that an agreement shall be construed against the drafter of the agreement in the event of any inconsistency
or ambiguity in such agreement shall not apply to the terms and conditions of this Agreement.

 

		18.	HEADINGS

 

The various
headings in this Agreement are inserted for convenience only, and shall not affect the meaning or interpretation of this Agreement
or any paragraph or provision hereof.

 

		19.	SEVERABILITY

 

If any provision
of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms
and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon
a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute
provision in this Agreement.

 

		20.	SURVIVAL

 

This Agreement,
including without limitation the representations, warranties and covenants contained herein, shall survive and continue in full
force and effect and be binding upon the parties hereto notwithstanding termination by either party.

 

     

     

    

 

(The remainder of this page is intentionally
left blank)

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused this Exclusive Licensing Agreement to be duly executed on the day and year first above written. 

 

	
        
	 	
	
        ZK International Group Co., Ltd.

        By: Jiancong Huang

        Title: CEO

        Date:

        Address:
	 	
        TNT Blockchain Inc

        By: David Christensen

        Title: CEO

        Date:

        Address:

 

	
         

	
        XSigma Corporation

        By: Jiancong Huang

        Title: Director

        Date:

        Address:
	 

 

     

     

    

 

SCHEDULE A

The “Asset” is defined as the
exclusive right to market and sell a system composed of the following technology components of TIMS and EMS, the Track and Trace
Applications, the IoTs, with Blockchain technology, that are standardized for the Industrial manufacturing vertical market segment.

 

		I.	System features and functions

		1.	Dashboard display on bar chart

		a)	Display Monthly and daily Total Raw Material collection and finished product packed in quantity.

		b)	Summary of Total Raw Material and Finished Products in quantity, by current and previous week,
month and year.

		2.	TIMS Control

		a)	Processing Management

		1)	Suppliers

Supplier registration and farm
identifications recording. This routine register the Supplier or Farmer particular and contact information. It also records the
Farm Identity or Warehouse Location.

		2)	Lot

This routine registered Raw
Material harvested or collected at the farm or Processing Plant, respectively. Each batch of Raw Material collected are assign
a Lot number (Licensee may use their own numbering scheme), indicate the source of supply, weight and quantity harvested or collected.

The date and time can be manually
set or used the system default assigned date and time, the Remarks tab is a free format for the raw material description or other
information.

		3)	Processing Events

This routine records the related
Raw Material lot number, process flow, its weight and quantity, from one process to another process. It is part of the processing
traceability, which provide tracking of information of What? When? Who? And Why? from the Farm to finished products.

		4)	Reports

		(i)	Summary Report

An overview summary highlight
information of Raw Material Collected in quantity.

A summary movement of harvested
or processed items movement from a process to another process, the staff involved and display of exception events like Lost, Stolen,
Damaged and Licensor in quantity.

		(ii)	Detail Report

This report provides all the
events recorded by Lot, staff, Station (Processes), and date range. This report can be exported into Excel file for further report
analysis.

		5)	Setup

		(i)	Supplier

Register supplier and farm identity.

 

     

     

    

 

		(ii)	Station Category

Setting the Process category.

		(iii)	Station

Setting the process flow and
sequence.

		(iv)	Staff

Register the staff name.

		b)	Packing Management

		1)	Individual Packing

		(i)	New label

Capturing of finished product
weight and print packing label individually or in a range, without external references,

		(ii)	Group Scanning

Capturing of finished product
weight and print packing label individually or in a range, with external references.

		2)	Batch

Selection of individual packed
finished products and pack them in a box and print the batch number.

		3)	Product

		(i)	New Product

Create product identity under
a category with product picture and description.

		(ii)	Product Category

Define the Product Category
for reference purpose.

		c)	Control Panel

		1)	System setting

		(i)	Define the licensee company name to be display

		(ii)	Landing page selection at dashboard or TIMS Control

		(iii)	Select language English or Simplified Chinese

		(iv)	Tag setting – Record the tag to be accepted by the system with its purpose and function.
It is to personalize the valid tags for security purpose.

		(v)	System theme – Setting the preferred color scheme.

		(vi)	Printer setting - For bar code printer to width and length, QRcode size and font size.

		(vii)	Packaging setting - Define the product packing wrapper weight, net weight margin of error and Expiry
date.

		(viii) 	Module setting – Enable or disable the module license.

		(ix)	Cloud setting – Setting the Cloud service login id and password. The user-id and first time
login password is provided by Licensor.

 

     

     

    

 

		d)	User Management

		1)	New User

Assign individual user id access
rights for every process under a predefined User Group access right.

		2)	User Group

Setting of User Group right
under each routine.

		e)	UOM (Unit of Measurement) Setting

Define the quantity unit of
measurement i.e. Length Meter as “Mtr” or liquid Liter as “Ltr” and Licensor.

		f)	System Backup

		1)	Create Backup

		(i)	Clinking this button enable the backup process a copy of the backup data file is captured in the
local hard disc and cloud system, provided the broadband service is available.

		(ii)	Transfer Backup File to System – Downloading of a selected backup file from external drive
or cloud directory to the system local directory, and can be subsequently restored into the system, in the event of system recovery
process.

 

		3.	Distribution Management

This is a stock control and
distribution control module with special routines providing various warehouse, distribution and logistics registration and recording.

The warehouses can be address,
location is setup and identified this module.

		a)	In Stock

		1)	New Stock

This is a finished product warehouse
recording of finished goods to be store in the warehouse. The New Stock set the Lot and Batch number for Raw Material or Finished
Products, the warehouse Identification, deliver from which supplier, product description, its quantity and physical storage location
address by Zone, Floor, Plot and Sub-plot.

		b)	Transfer

A stock can be directly from
Supplier or from internal warehouse to warehouse transfer. The transfer routine record stock transfer date, from which warehouse
to another ware and product and its quantity.

		c)	Sales

This routine record the stock
taken out from warehouse for sales or delivery purpose. The record specify the buyer name, warehouse, sales order number, customer,
product description and quantity.

		d)	Stock Cards

Summary record of Product stock
in and out and current balance.

     

     

    

 

		e)	Product

This routine record the product
description with pictures. Indicate this quantity unit of measurement.

		f)	Warehouse

The warehouse address, GPS coordinates
and special remarks.

		g)	Suppliers

The supplier registration record
the supplier profiles and the supplier delivery location or warehouse.

		h)	Customers

Register the Customer location
id and contact information.

		i)	Setting

This is for setting up TIMS
parameters.

		4.	Tag Control Management

This module is provided to record
all the Tag to be use by the to recording Item identification,

		II.	Any update or enhancement to any of the technology set forth in Section I of Schedule A

 

     

     

    

 

SCHEDULE B

 

		1.	Price:

 

In consideration for the Exclusive
Global Licensing Rights for the Global Territory, Licensor agrees to accept the following restricted ordinary shares (the “Consideration
Shares”) in the capital stock of Licensee as follows:

 

		(i)	25,000 restricted ordinary shares to be issued on signing;

		(ii)	25,000 restricted ordinary shares to be issued six months after the First
Production Deployment in the event this Agreement has not been terminated by either party; and

		(iii)	50,000 restricted ordinary shares to be issued twelve months after the First
Production Deployment in the event this Agreement has not been terminated by either party.

 

		a)	Licnesor acknowledge and agrees that the Consideration Shares are being issued
pursuant to an exemption from the prospectus and registration requirements of the Securities Act of 1933, as amended (the “Securities
Act”). As required by applicable securities law, Licensor agree to abide by all applicable resale restrictions and hold
periods imposed by all applicable securities legislation. All certificates representing the Consideration Shares issued on Closing
will be endorsed with the following legend pursuant to the Securities Act in order to reflect the fact that the Consideration Shares
will be issued to Licensor pursuant to an exemption from the registration requirements of the Securities Act:

 

"NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933
ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN
THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933
ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION
NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED
STATES" AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT."

 

		b)	Licensor acknowledges that the Consideration Shares issued pursuant to the
terms and conditions set forth in this Agreement will have such hold periods as are required under applicable securities laws and
as a result may not be sold, transferred or otherwise disposed, except pursuant to an effective registration statement under the
Securities Act, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities
Act and in each case only in accordance with all applicable securities laws.

 

		c)	Licensor and Licensee agree that the closing of this Agreement shall be subject
to the delivery by Licensor a working and functioning and operating Application IP free of any bugs, glitches, viruses of any kind
and should the Application IP be reasonably deemed to be non-functional by the Licensee, then Licensee will have the right to terminate
the Agreement and would not be required to pay the Consideration Shares and the Cash Consideration as set forth in this Schedule.

 

     

     

    

 

In addition, LICENSOR agrees
to accept the following cash consideration (the “Cash Consideration”) as follows:

 

		(i)	$500,000 USD upon signing of this Agreement;

		(ii)	$500,000 USD to be funded six months after First Production Deployment in
the event this Agreement has not been terminated by either party; and

		(iii)	$1,000,000 USD to be funded twelve months after First Production Deployment
in the event this Agreement has not been terminated by either party.

 

		2.	Permitted territory: Anywhere worldwide

 

		3.	Optional services

 

		a)	Customization services to perform software changes based on the Licensee requirements and system
functional specification. The charges will depend on the changes required.

 

Customization services are included
with investment and are limited to the two-year term of this agreement. Any customizations or updates and changes beyond two years
will need to be reviewed and a Statement of Work (SOW) with associated pricing must be accepted by both parties.

 

		b)	System installation of:

 

		(i)	Hardware installation

 

		(ii)	Operating system

 

		(iii)	TIMS and setting up

 

		c)	Training

 

		d)	At the end of the second year and going forward, in order to maintain global exclusivity of the
manufacturing vertical license, the Licensee must meet or exceed an annual payment for combined Subscription & Hardware payments
of at least $500,000 USD to Licensor.

 

     

     

    

 

SCHEDULE C

TNT PERFORMANCE MILESTONES

 

		1.	Month 1 upon execution of this Agreement

		a.	Complete Supply Chain Assessment and VSM (Value Stream Map)

		b.	Prioritize blockchain technology implementation (Multichain, Hyperledger, Etherum, etc.)

 

		c.	Define specification for Internal ERP demonstration and use case validation platform. 

 

		2.	Month 2 upon execution of this Agreement

		a.	Business Model and TIMS/EMS review and specifications

		b.	Blockchain Converter Prototype on 2 blockchains (Multichain / Hyperledger) for Smart Contracts

 

		3.	Month 3 upon execution of this Agreement

		a.	TIMS/EMS Customization

		b.	Release version 1 "TNTaaS" Track and Trace as a Service built on Open Boxes.

 

		4.	Month 4 upon execution of this Agreement

		a.	Complete and modular application Testing

		b.	Blockchain Converter Production Release 1.0

		5.	Month 5 upon execution of this Agreement

		a.	TIMS/EMS System release and installation

		b.	Blockchain Converter Production Release 2.0

		c.	Release version 2 "TNTaaS" Track and Trace as a Service built on Open Boxes.

 

		6.	Month 6 upon execution of this Agreement

		a.	TIMS/EMS Documentation and Training

		b.	Blockchain Converter Production Release 3.0

		7.	Month 7 upon execution of this Agreement

		a.	TIMS/EMS Production w/IoT devices + Blockchain

		b.	Blockchain Converter Production Release 4.0

		8.	Month 8 upon execution of this Agreement - at Supplier(s)

		a.	Complete Supply Chain Assessment and VSM at Supplier(s)

		9.	Month 9 upon execution of this Agreement

		a.	Business Model and TIMS review and specifications at Supplier(s)

		b.	TIMS/EMS Customization at Supplier(s)

		10.	Month 10 upon execution of this Agreement

		a.	Complete and modular application Testing at Supplier(s)

		b.	TIMS/EMS System release and installation

		11.	Month 11 upon execution of this Agreement

		a.	TIMS/EMS Documentation and Training at Supplier(s)

		b.	Blockchain Converter Production Release 3.0

		12.	Month 12 upon execution of this Agreement

		a.	TIMS/EMS Production w/IoT devices + Blockchain at Supplier(s)

		b.	Blockchain Converter Production Release 5.0

 

Note: Milestones and related project plans are subject to impact
by many variables including, but without limitation to, local Licensee resources, availability, systems, comprehension. and development.

 

     

     

    

 

SCHEDULE D

 

Ching Peng Lor’s and Wei Kat Chiam’s existing Birdnest
Soup Tracking business in Asia

 

		1.	Edible Bird’s Nest, Malaysia

  

	
         
		
	
         

        By: Ching Peng Lor

        Title:

        Date:
	 	
         

        By: Wei Kat Chiam

        Title:

        Date:

 

     

     

    

 

Schedule E

 

Other industry or vertical markets not included in this Agreement

 

		1.	Pharmaceutical Industry

		2.	Cannabis Industry

		3.	Agricultural Industry

		4.	Food and Beverage

		5.	LogisticsExhibit 10.1 - 2017 Share Incentive Plan

 Exhibit 10.1 

STUDYVIP ONLINE EDUCATION INTERNATIONAL LIMITED 

SHARE INCENTIVE PLAN 

Section 1. Purpose.  

The purpose of the Studyvip Online Education International Limited (“Studyvip”) Share Incentive Plan is to enhance the ability
of Studyvip to attract and retain exceptionally qualified individuals and to encourage them to acquire a proprietary interest in the growth and performance of the Company. 

Section 2. Structure. 

Each Award (as defined below) granted by the Company pursuant to the terms of this Employee Stock Option Plan (“Plan”), shall be granted to each participant, and the corresponding Shares issuable upon the exercise of such
Award (the “Award Shares”) shall be issued to the participants or an entity designated by the participants. 

Section 3. Definitions.  

As used in this Plan and any Award Agreement (as defined below), the following terms shall have the meanings set forth below: 

(a)    “Plan” shall mean this Studyvip Share Incentive Plan, as amended from time to time.

 (b)     “Affiliate” shall mean (i) any entity that, directly or indirectly, is
controlled by the Company and (ii) any entity in which the Company has a significant equity interest, in either case as determined by the Committee. 

(c)    “Applicable Laws” shall mean all laws, statutes, regulations, ordinances, rules or
governmental requirements that are applicable to this Plan or any Award granted pursuant to this Plan, including but not limited to applicable laws of the People’s Republic of China (“PRC”), the United States and the Cayman
Islands, and the rules and requirements of any applicable securities exchange. 

(d)    “Award” shall mean any Option, award of Restricted Share, Restricted Share Unit or
Other Share-Based Award granted under this Plan. 
 (e)    “Award Agreement” shall mean
any written agreement, contract or other instrument or document evidencing any Award granted under this Plan. 

(f)    “Board” shall mean the board of directors of the Company. 

(g)    “Cause” shall mean an act or acts on the part of the Participant constituting a
violation of the internal rules and procedures of the Company or an Affiliate that employs or retains such Participant.

  
 1 

 (h)    “Committee” shall mean a compensation
committee of the Board designated by the Board to administer this Plan. 

(i)    “Company” shall mean Studyvip Online Education International Limited, a company
incorporated under the laws of the Cayman Islands, together with any successor thereto. 

(j)    “Consultant” means any individual, including an advisor, who is engaged by the
Company or an Affiliate to render services and is compensated for such services, and any director of the Company whether or not compensated for such services. 

(k)     “Discharge” shall mean that the relationship between the Participant and the
Company or an Affiliate, whether it is employment or consultancy, is terminated due to economic layoffs or restructuring of the Company or an Affiliate, as the case may be. 

(l)     “Fair Market Value” shall mean, with respect to any property (including, without
limitation, any Shares or other securities) the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee. 

(m)    “IPO” shall mean the initial public offering of the Shares (or securities
representing the Shares) of the Company in the United States. 
 (n)    “Option” shall
mean an option granted under Section 7 hereof. 
 (o)    “Other Share-Based Award”
shall mean a right granted under Section 9 hereof. 
 (p)    “Participant” shall
mean an individual granted an Award under this Plan. 
 (q)     “Restricted Share” shall
mean any Share granted under Section 8 hereof. 
 (r)    “Restricted Share Unit”
shall mean a contractual right granted under Section 8 hereof that is denominated in Shares, each of which represents a right to receive the value of a Share (or a percentage of such value, which percentage may be higher than 100%) upon the
terms and conditions set forth in this Plan and the applicable Award Agreement. 

(s)    “Shares” shall mean ordinary shares of the Company, par value $0.00005per share.

 (t)    “Substitute Awards” shall mean Awards granted in assumption of, or in
substitution for, outstanding awards previously granted by, or held by the employees of, a company or other entity or business acquired (directly or indirectly) by the Company or with which the Company combines. 

  
 2 

 Section 4. Eligibility.  

(a)    Employees (each, an “Employee”) of the Company or an Affiliate and the Consultants
are eligible to participate in this Plan. An Employee or Consultant who has been granted an Award may, if he or she is otherwise eligible, be granted additional Awards. 

(b)    An individual who has agreed to accept employment by, or to provide services to, the Company or an
Affiliate shall be deemed to be eligible for Awards hereunder as of the date of such agreement. 
 Section 5. Administration. 

 (a)    Before the Company’s IPO, this Plan shall be administered by the Board. After the
Company’s IPO, this Plan shall be administered by the Committee formed in accordance with applicable stock exchange rules, unless otherwise determined by the Board. The term “Administrator” shall refer to the Board or the Committee,
as applicable. The Administrator may delegate to a person or committee of its designation its authority under this Plan. 

(b)    Subject to the terms of this Plan and Applicable Laws, the Committee shall have full power and
authority to: (i) designate Participants; (ii) determine the type or types of Awards (including Substitute Awards) to be granted to each Participant under this Plan; (iii) determine the number of Shares to be covered by (or with
respect to which payments, rights, or other matters are to be calculated in connection with) Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what extent, and under what circumstances Awards may be
settled or exercised in cash, Shares, other securities, other Awards, or other property, or canceled, forfeited or suspended, and the method or methods by which Awards may be settled, exercised, canceled, forfeited or suspended; (vi) determine
whether, to what extent, and under what circumstances cash, Shares, other securities, other Awards, other property, and other amounts payable with respect to an Award under this Plan shall be deferred either automatically or at the election of the
holder thereof or of the Committee; (vii) interpret and administer this Plan and any instrument or agreement relating to, or Award made under, this Plan; (viii) establish, amend, suspend or waive such rules and regulations and appoint such
agents as it shall deem appropriate for the proper administration of this Plan; (ix) determine whether and to what extent Awards should comply or continue to comply with any requirement of statute or regulation; and (x) make any other
determination and take any other action that the Committee deems necessary or desirable for the administration of this Plan. 

(c)    All decisions of the Committee shall be final, conclusive and binding upon all persons, including
the Company, the shareholders of the Company and the Participants and their beneficiaries. 
 Section 6. Shares Available for
Awards.  
 (a)    Subject to adjustment as provided below, the maximum aggregate number of Shares
that may be issued pursuant to all Awards shall not exceed 483,846 Shares. 

  
 3 

 (b)    If, after the effective date of this Plan, any Shares
covered by an Award, or to which such an Award relates, are forfeited, cancelled or if such an Award otherwise terminates without the delivery of Shares or of other consideration, then the Shares covered by such Award, or to which such Award
relates, to the extent of any such forfeiture or termination, shall again be, or shall become, available for issuance under this Plan. 

(c)    In the event that any Option or other Award granted hereunder (other than a Substitute Award) is
exercised through the delivery of Shares, or in the event that withholding tax liabilities arising from such Option or Award are satisfied by the withholding of Shares by the Company, the number of Shares available for Awards under this Plan shall
be increased by the number of Shares so surrendered or withheld. 
 (d)    Any Shares delivered pursuant
to an Award may consist, in whole or in part, of authorized and unissued Shares, treasury Shares or Shares purchased on the open market. 

(e)    In the event that the Committee shall determine that any dividend or other distribution (whether in
the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up,
spin-off, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company, or other similar
corporate transaction or event affects the Shares such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under this
Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other securities or property) which thereafter may be made the subject of Awards, including the aggregate limit
specified in Section 6(a) hereof, (ii) the number and type of Shares (or other securities or property) subject to outstanding Awards, (iii) the grant, purchase, or exercise price with respect to any Award or, if deemed appropriate,
make provision for a cash payment to the holder of an outstanding Award, and (iv) the minimum number of Shares which may be purchased by the holder of an outstanding Award at any one time; provided, however, that the number of Shares
subject to any Award denominated in Shares shall always be a whole number. 
 (f)    Shares underlying
Substitute Awards shall not reduce the number of Shares remaining available for issuance under this Plan. 
 Section 7. Options.

 The Committee is hereby authorized to grant Options to Participants with the following terms and conditions and with such additional terms
and conditions, in either case not inconsistent with the provisions of this Plan, as the Committee shall determine and set forth in the Award Agreement: 

(a)    The purchase price per Share under an Option shall be determined by the Committee. 

(b)    The term of each Option shall be fixed by the Committee. 

  
 4 

 (c)    The Committee shall determine the time or times at
which an Option may be exercised in whole or in part, and the method or methods by which, and the form or forms, including, without limitation, cash, Shares, other Awards, or other property, or any combination thereof, having a Fair Market Value on
the exercise date equal to the relevant exercise price, in which, payment of the exercise price with respect thereto may be made or deemed to have been made. 

Section 8. Restricted Shares and Restricted Share Units.  

(a)    The Committee is hereby authorized to grant Awards of Restricted Shares and Restricted Share Units
to Participants. 
 (b)    Restricted Shares and Restricted Share Units shall be subject to such
restrictions as the Committee may impose (including, without limitation, any limitation on the right to vote a Restricted Share or the right to receive any dividend or other right or property), which restrictions may lapse separately or in
combination at such time or times, in such installments or otherwise, as the Committee may deem appropriate. 

(c)    Any Restricted Share granted under this Plan may be evidenced in such manner as the Committee may
deem appropriate including, without limitation, book-entry registration or issuance of a share certificate or certificates, creation of a new class of shares or amendment of the Memorandum and/or Articles of Association of the Company. In the event
any share certificate is issued in respect of Restricted Shares granted under this Plan, such certificate shall be registered in the name of the Participant and shall bear an appropriate legend referring to the terms, conditions, and restrictions
applicable to such Restricted Share. 
 Section 9. Other Share-Based Awards.  

The Committee is hereby authorized to grant to Participants such other Awards (including, without limitation, share appreciation rights and
rights to dividends and dividend equivalents) that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible into Shares) as are
deemed by the Committee to be consistent with the purposes of this Plan. Subject to the terms of this Plan, the Committee shall determine the terms and conditions of such Awards. Shares or other securities delivered pursuant to a purchase right
granted under this Section 9 shall be purchased for such consideration, which may be paid by such method or methods and in such form or forms, including, without limitation, cash, Shares, other securities, other Awards, or other property, or
any combination thereof, as the Committee shall determine, the value of which consideration, as established by the Committee, shall, except in the case of Substitute Awards, not be less than the Fair Market Value of such Shares or other securities
as of the date such purchase right is granted. 
 Section 10. General Provisions Applicable to Awards.  

(a)    All Awards shall be evidenced by an Award Agreement between the Company and each Participant. 

(b)    Awards shall be granted for no cash consideration or for such minimal cash consideration as may be
required by Applicable Laws. 

  
 5 

 (c)    Awards may, in the discretion of the Committee, be
granted either alone or in addition to or in tandem with any other Award or any award granted under any other plan of the Company. Awards granted in addition to or in tandem with other Awards, or in addition to or in tandem with awards granted under
any other plan of the Company, may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

(d)    Subject to the terms of this Plan, payments or transfers to be made by the Company upon the grant,
exercise or payment of an Award may be made in such form or forms as the Committee shall determine including, without limitation, cash, Shares, other securities, other Awards, or other property, or any combination thereof, and may be made in a
single payment or transfer, in installments, or on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include, without limitation, provisions for the payment or
crediting of reasonable interest on installment or deferred payments or the grant or crediting of dividend equivalents in respect of installment or deferred payments. 

(e)    Unless the Committee shall otherwise determine, no Award and no right under any such Award, shall be
assignable, alienable, saleable or transferable by a Participant otherwise than by will or by the laws of descent and distribution; provided, however, that, if so determined by the Committee, a Participant may, in the manner established by
the Committee, designate a beneficiary or beneficiaries to exercise the rights of the Participant, and to receive any property distributable, with respect to any Award upon the death of the Participant. Each Award, and each right under any Award,
shall be exercisable during the Participant’s lifetime only by the Participant or, if permissible under Applicable Laws, by the Participant’s guardian or legal representative. No Award and no right under any such Award, may be pledged,
charged, mortgaged, alienated, attached, or otherwise encumbered, and any purported pledge, charge, mortgage, alienation, attachment or encumbrance thereof shall be void and unenforceable against the Company. The provisions of this paragraph shall
not apply to any Award which has been fully exercised, earned or paid, as the case may be, and shall not preclude forfeiture of an Award in accordance with the terms thereof. 

(f)    All certificates for Shares or other securities delivered under this Plan pursuant to any Award or
the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under this Plan or the rules, regulations, and other requirements of the United States Securities and Exchange Commission,
any stock exchange upon which such Shares or other securities are then listed, and any Applicable Laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

  
 6 

 (g)    No Shares shall be delivered under the Plan to any
Participant until such Participant has made arrangements acceptable to the Committee for the satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any subsidiary shall have the authority and the
right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy all applicable taxes (including the Participant’s payroll tax obligations) required or permitted by Applicable Laws to be withheld
with respect to any taxable event concerning a Participant arising as a result of the Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold Shares
otherwise issuable under an Award (or allow the return of Shares) having a Fair Market Value equal to the sum required to be withheld. Notwithstanding any other provision of the Plan, the number of Shares which may be withheld with respect to the
issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in order to satisfy any income and payroll tax liabilities
applicable to the Participant with respect to the issuance, vesting, exercise or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market Value on the date of withholding
or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for the applicable income and payroll tax purposes that are applicable to such supplemental taxable income. 

Section 11. Amendment and Termination.  

(a)    Except to the extent prohibited by Applicable Laws and unless otherwise expressly provided in an
Award Agreement or in this Plan, the Committee may amend, alter, suspend, discontinue or terminate this Plan, or any Award Agreement hereunder or any portion hereof or thereof at any time; provided, however, that no such amendment,
alteration, suspension, discontinuation or termination shall be made without (i) shareholder approval with such legally mandated threshold for a resolution of the shareholders of the Company if such approval is necessary to comply with any tax
or regulatory requirement for which or with which the Committee deems it necessary or desirable to qualify or comply, (ii) shareholder approval with such threshold for a resolution of the shareholders of the Company in respect of such
amendment, alteration, suspension, discontinuation or termination as provided in the Company’s Memorandum and Articles of Association for any amendment to this Plan that increases the total number of Shares reserved for the purposes of this
Plan, and (iii) with respect to any Award Agreement, the consent of the affected Participant, if such action would materially and adversely affect the rights of such Participant under any outstanding Award. 

(b)    The Committee may waive any conditions or rights under, amend any terms of, or amend, alter,
suspend, discontinue or terminate, any Award theretofore granted, prospectively or retroactively, without the consent of any relevant Participant or holder or beneficiary of an Award; provided, however, that no such action shall materially
and adversely affect the rights of any affected Participant or holder or beneficiary under any Award theretofore granted under this Plan; and provided further that, except as provided in Section 6(e) hereof, no such action shall reduce
the exercise price of any Option established at the time of grant thereof. 
 (c)    The Committee shall
be authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 6(e) hereof affecting the
Company, or the financial statements of the Company, or of changes in Applicable Laws or accounting principles); whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or
potential benefits intended to be made available under this Plan. 
 (d)    Any provision of this Plan or
any Award Agreement to the contrary notwithstanding, with the affected Participant’s consent, the Committee may cause any Award granted hereunder to be canceled in consideration of a cash payment or alternative Award made to the holder of such
canceled Award equal in value to the Fair Market Value of such canceled Award as of the time of the cancellation. 

  
 7 

 (e)    The Committee may correct any defect, supply any
omission, or reconcile any inconsistency in this Plan or any Award in the manner and to the extent it shall deem desirable to carry this Plan into effect. 

Section 12.    Withholding Taxes.

The exercise of each Award granted under this Plan shall be subject to the condition that, if at any time, the Committee shall
determine that the satisfaction of withholding tax is necessary or desirable in respect of such exercise, such exercise shall not be effective unless such withholding has been effected to the satisfaction of the Committee. In such circumstances, the
Committee may require the exercising Participant to pay to the Company, in addition to and in the same manner as the Exercise Price for the Award Shares, such amount as the Company or any Affiliate is obliged to remit to the relevant taxing
authority in respect of the exercise of the Awards. Alternatively, the Committee may direct the Company or an Affiliate thereof to withhold the appropriate amount of tax from the applicable Participant’s salary in connection with a requested
exercise. Any such additional payment shall be due no later than the date as of which any amount with respect to the Award exercised first becomes includable in the gross income of the exercising Participant for tax purposes. 

Section 13. Miscellaneous.  

(a)    No employee, independent contractor, Participant or other person shall have any claim to be granted
any Award under this Plan, and there is no obligation for uniformity of treatment of employees, independent contractors, Participants, or holders or beneficiaries of Awards under this Plan. The terms and conditions of Awards need not be the same
with respect to each recipient. 
 (b)    Nothing contained in this Plan shall prevent the Company from
adopting or continuing in effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 

(c)    The grant of an Award shall not be construed as giving a Participant the right to be retained in the
employ or service of the Company or any Affiliate.    Further, the Company or the applicable Affiliate may at any time dismiss a Participant from employment or terminate the services of an independent contractor, free from any
liability, or any claim under this Plan, unless otherwise expressly provided in this Plan or in any Award Agreement or in any other agreement binding the parties. 

(d)    If any provision of this Plan or any Award is or becomes or is deemed to be invalid, illegal, or
unenforceable in any jurisdiction, or as to any person or Award, or would disqualify this Plan or any Award under any Applicable Laws, such provision shall (to the fullest extent permitted by applicable law) be construed or deemed amended to conform
to Applicable Laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of this Plan or the Award, such provision shall be stricken as to such jurisdiction, person or
Award, and the remainder of this Plan and any such Award shall remain in full force and effect. 

  
 8 

 (e)    Awards payable under this Plan shall be payable in
Shares or from the general assets of the Company, and no special or separate reserve, fund or deposit shall be made to assure payment of such awards. No Participant, beneficiary or other person shall have any right, title or interest in any fund or
in any specific asset (including Shares, except as expressly otherwise provided) of the Company or one of its subsidiaries by reason of any award hereunder. 

(f)    Neither this Plan nor any Award shall create or be construed to create a trust or separate fund of
any kind or a fiduciary relationship between the Company and a Participant. To the extent that any person acquires a right to receive payments from the Company pursuant to an Award, such right shall be no greater than the right of any unsecured
general creditor of the Company. 
 (g)    No fractional Shares shall be issued or delivered pursuant to
this Plan or any Award, and the Committee shall determine whether cash, other securities or other property shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled,
terminated or otherwise eliminated. 
 (h)    This Plan shall be submitted to the competent foreign
exchange regulatory authority and tax authority of the PRC for registration if applicable laws require, and shall be implemented in accordance with the applicable rules of these authorities with respect to Participants who are PRC residents.

 (i)    In order to assure the viability of Awards granted to Participants employed in various
jurisdictions, the Committee may, in its sole discretion, provide for such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom applicable in the jurisdiction in which the
Participant resides or is employed. Moreover, the Committee may approve such supplements to, amendments, restatements or alternative versions of this Plan as it may consider necessary or appropriate for such purposes without thereby affecting the
terms of this Plan as in effect for any other purpose; provided, however, that no such supplements, restatements or alternative versions shall increase the share limitations contained in Section 6 hereof. Notwithstanding the foregoing,
the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate any Applicable Laws. 

(j)    The Company shall not be obligated to grant any Awards, permit the exercise of any Awards, issue any
Award Shares upon the exercise of any Awards, make any payments or take any other action pursuant to this Plan if, in the opinion of the Committee, such action would conflict or be inconsistent with any Applicable Law, the Company’s trading
policies or would result in any delay or other issues in connection with an IPO, and the Committee reserves the right to refuse to take such action for so long as such conflict or inconsistency or issue remains outstanding. 

(k)    The Company shall maintain a register of Awards granted to the Participants and Award Shares issued
to the Participants or an entity designated by the Participants, including the dates of grant of such Awards and the exercise of such Awards and any other details as the Committee may deem appropriate. 

  
 9 

 (l)    The Plan and all Award Agreements shall be governed by
and construed in accordance with the laws of the Cayman Islands. 
 Section 14. Effective Date of Plan.  

The Plan shall be effective as of the date of its approval by the Board of the Company. 

  
 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]