Document:

Exhibit 10.2

 

Certain
identified information contained in this document, marked by brackets as [***], has been excluded because it is both (i) not
material and (ii) would likely cause competitive harm to the registrant if publicly disclosed.

 

CHANGE
IN TERMS AGREEMENT

 

	Principal

        $2,000,000.00
	Loan
        Date

        10-19-2019
	Maturity

        10-19-2020
	Loan
        No

        [***]
	Call
    / Coll	Account

        [***]
	Officer

        [***]
	Initials
	References
        in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan
        or item.

        Any
        item above containing "***" has been omitted due to text length limitations.

 

	Borrower:
     Torotel, Inc. 

     520 N Rogers Road 

     Olathe, KS 66062	Lender:     Cornerstone Bank
 Main Office
 9120 W. 135th Street

                                                                                Overland Park, KS 66221

 

 

	Principal
    Amount: $2,000,000.00	Date
    of Agreement: April 15, 2020

 

DESCRIPTION
OF EXISTING INDEBTEDNESS.

Promissory
Note #[***] dated October 19, 2019 in the original principal amount of $1,500,000.00.

DESCRIPTION
OF COLLATERAL.

Commercial
Security Agreement dated October 19, 2018 executed by Borrower to Lender.

All
Assets

Cross
Collateralized with Loan No. 913236 , Loan No. 913245 and Loan No. 913239.

DESCRIPTION
OF CHANGE IN TERMS.

The
principal loan amount is currently $1,500,000.00 and is hereby increased by $500,000.00 to be the amount referenced in the Principal
Amount paragraph herein.

CONTINUING
VALIDITY. Except as expressly changed by this Agreement, the terms of the original obligation or obligations, including all
agreements evidenced or securing the obligation(s), remain unchanged and in full force and effect. Consent by Lender to this Agreement
does not waive Lender's right to strict performance of the obligation(s) as changed, nor obligate Lender to make any future change
in terms. Nothing in this Agreement will constitute a satisfaction of the obligation(s). It is the intention of Lender to retain
as liable parties all makers and endorsers of the original obligation(s), including accommodation parties, unless a party is expressly
released by Lender in writing. Any maker or endorser, including accommodation makers, will not be released by virtue of this Agreement.
If any person who signed the original obligation does not sign this Agreement below, then all persons signing below acknowledge
that this Agreement is given conditionally, based on the representation to Lender that the non-signing party consents to the changes
and provisions of this Agreement or otherwise will not be released by it. This waiver applies not only to any initial extension,
modification or release, but also to all such subsequent actions.

 

	Borrower's
    Initials	NO
    ORAL AGREEMENTS. This written agreement is the final expression of the agreement between Lender and
	 	Borrower
    and may not be contradicted by evidence of any prior oral agreement or of a contemporaneous oral
	 	agreement
    between Lender and Borrower.
	 

                        
	NONSTANDARD
     TERMS. The following space contains all nonstandard terms, including all previous oral
	 	agreements,
    if any, between Lender and Borrower:
	 
	Lender's
    Initials	 
	 

                         
	 

        By
        initialing the boxes to the left, Lender and Borrower affirm that no unwritten oral agreement exists between

	 	them.

 

PRIOR
TO SIGNING THIS AGREEMENT, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS AGREEMENT. BORROWER AGREES TO THE TERMS OF
THE AGREEMENT.

 

CHANGE
IN TERMS SIGNERS:

 

TOROTEL,
INC.

 

	By:
	/s/ Heath C. Hancock
	 	By:	/s/
                                         Dale H. Sizemore
	 	Heath C. Hancock, Chief Financial Officer of Torotel,

Inc.	 	 	Dale H. Sizemore, Jr., President of Torotel, Inc.

 

LENDER:

 

CORNERSTONE
BANK

 

	X	/s/ John
V Doull	
	 	John
                                         V Doull, Vice President	 

 

 

     

     

    

 

DISBURSEMENT
REQUEST AND AUTHORIZATION

 

	Principal

        $2,000,000.00
	Loan
        Date

        10-19-2019
	Maturity

        10-19-2020
	Loan
        No

        [***]
	Call
    / Coll	Account

        [***]
	Officer

        [***]
	Initials
	References
        in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan
        or item.

        Any
        item above containing "***" has been omitted due to text length limitations.

 

	Borrower:
     Torotel, Inc. 

     520 N Rogers Road 

     Olathe, KS 66062	Lender:
                                             Cornerstone Bank

                                         Main Office

                                         9120 W. 135th Street 

                                         Overland Park, KS 66221

 

LOAN
TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan to a Corporation for $2,000,000.00 due on October
19, 2020. This is a secured renewal of the following described indebtedness:

Promissory
Note #[***] dated October 19, 2018 in the original principal amount of $1,000,000.00 executed by Borrower to Lender and a Change
in Terms Agreement dated November 19, 2018 in the principal amount of $1,250,000.00 executed by Borrower to Lender and a Change
in Terms Agreement dated May 10, 2019 in the principal amount of $1,500,000.00 executed by Borrower to Lender.

 

PRIMARY
PURPOSE OF LOAN. The primary purpose of this loan is for:

 

 ̈ Personal,
Family, or Household Purposes or Personal Investment.

x
Business (Including Real Estate Investment).

 

SPECIFIC
PURPOSE. The specific purpose of this loan is: Working Capital.

DISBURSEMENT
INSTRUCTIONS. Borrower understands that no loan proceeds will be disbursed until all of Lender's conditions for making the
loan have been satisfied. Please disburse the loan proceeds of $2,000,000.00 as follows:

 

	Other
    Disbursements:	$2,000,000.00
	[***]
    Current Outstanding Principal Balance	 
	[***]
    Available to Borrow	                               
	 	 
	Note
    Principal:	$2,000,000.00

 

CHARGES
PAID IN CASH. Borrower has paid or will pay in cash as agreed the following charges:

 

	Prepaid
    Finance Charges Paid in Cash:	$0.00
	Other
    Charges Paid in Cash:	$525.00
	$15.00
    Flood Determination Fee	 
	$10.00
    UCC Search Fee (KS)	 
	$500.00
    Origination Fee	                               
	 	 
	Total
    Charges Paid in Cash:	$525.00

 

FINANCIAL
CONDITION. BY SIGNING THIS AUTHORIZATION, BORROWER REPRESENTS AND WARRANTS TO LENDER THAT THE INFORMATION PROVIDED ABOVE IS TRUE
AND CORRECT AND THAT THERE HAS BEEN NO MATERIAL ADVERSE CHANGE IN BORROWER'S FINANCIAL CONDITION AS DISCLOSED IN BORROWER'S MOST
RECENT FINANCIAL STATEMENT TO LENDER. THIS AUTHORIZATION IS DATED APRIL 15, 2020.

 

BORROWER:

 

TOROTEL,
INC.

 

	By:
	/s/ Heath
C. Hancock
	 	By:	/s/
                                         Dale H. Sizemore
	 	Heath C. Hancock, Chief
Financial Officer of Torotel,

Inc.	 	 	Dale
                                         H. Sizemore, Jr., President of Torotel, Inc.Exhibit 4.17

 

	
[Tencent   logo]
    	
Cooperation Agreement between Weixin   Official Platform and Sogou Search
    

 

English Translation

 

Cooperation Agreement

 

between

 

Weixin Official Platform

 

and

 

Sogou Search

 

Agreement No.: [  ]

 

Party A: Shenzhen Tencent Computer Systems Co., Ltd.

Contact person:

Mailing address:

Tel:

Email:

 

Party B: Beijing Sogou Information Service Co., Ltd.

Contact person:

Mailing address:

Tel:

E-mail:

 

Whereas:

 

1. Party A, Party B and their relevant affiliates entered into a Business Development and Resource Sharing Agreement on September 16, 2013, whereby the parties entered into a strategic cooperation;

 

2. Party B desires to use public data on Party A’s Weixin official platform to provide search services, and both parties have negotiated their intentions in respect of such cooperation;

 

3. Party A and Party B signed No. 14-SGO-04344, No. 15-SD-10681, No. 17-SD-10269, No. 17-SD-00731, and No. 19-SD-10584 Cooperation Agreements between Weixin Official Platform and Sogou Search (the “Original Agreements”) in May 2014 and November 2015 and on March 21, 2017, September 15, 2017 and March 1, 2019 respectively.

 

NOW THEREFORE, in order to specify the terms of the cooperation, establish data usage specifications, and safeguard the legitimate rights and interests of Weixin official platform users, Party A and Party B  hereby enter into the following cooperation agreement in line with the principle of equality and mutual benefits and win-win cooperation:

 

1

 

Chapter I Definitions and Interpretations

 

I. Definitions

 

Unless otherwise defined in this Agreement, the following terms shall have the following specific meanings:

 

1. Chinese Law:

 

Referring to any laws, rules, regulations, judicial interpretations and other legal norms currently in force and promulgated and implemented in the future in jurisdictions of mainland China.

 

2. Official Platform Data and Contents:

 

Referring to the public contents on Party A’s Weixin official platform, including but not limited to public registration information of official platform subscription accounts and service account operators, and all information publicly distributed by official platform subscription accounts and service account operators through Weixin official platform (different from point-to-point information and region or subscriber specific information), the specific scope of contents of which shall be subject to the assessment and determination by Party A according to law.

 

3. Sogou Search Services:

 

Referring to such search services as content retrieval and result response on Sogou search engines, including PC end (www.sogou.com, www.soso.com) and wireless end (including Sogou, Soso mobile web search and Sogou search app client), based on Official Platform Data and Contents.

 

4. Trade Secrets:

 

Referring to the technical, financial, commercial and other information owned by either party hereto and/or its subsidiaries or affiliated companies and treated by such party as trade secrets, which have the following characteristics:

 

(a)             Unknown to the public;

 

(b)             Able to bring economic benefits to the right owner;

 

(c)              Being practical; and

 

(d)             Treated by the right owner as secrets and appropriate protective measures having been taken for it.

 

2

 

5. Force Majeure:

 

Referring to earthquake, typhoon, fire, flood, war, strike, riot, hacker attack, operator technical failure or change of policy or any other natural or man-made disaster occurred during the term of this Agreement, which is unpredictable (or the occurrence or consequences of which is inevitable even though predictable) and beyond the control of either party and renders the full performance by either party of this Agreement impossible.

 

6. Official Platform Source Pages:

 

The source pages (currently bearing a domain suffix of weixin.qq.com) under Weixin official platform, or other pages designated by Weixin official platform.

 

II. Interpretations

 

1. Unless explicitly indicated as working days, the term “day” mentioned herein refers to calendar day.

 

2. The headings contained in this Agreement are for reference purposes only, and shall not affect the meaning or interpretation of any part of this Agreement.

 

3. As the context requires, the plural shall include the singular and vice versa.

 

4. A reference to a chapter, clause and paragraph shall be a reference to a chapter, clause and paragraph of this Agreement.

 

Chapter II Representations and Warranties

 

III. Legal Status

 

Each party represents and warrants that, from the signing date of this Agreement:

 

1.                  It is qualified to engage in the transaction hereunder, and such transaction complies with its business scope;

 

2.                  It has full power to enter into this Agreement and to perform its obligations hereunder;

 

3.                  Its authorized representative has sufficient authority to sign this Agreement on its behalf.

 

IV. Legal Force

 

1.                  From the effective date, this Agreement shall be legally binding upon both parties.

 

2.                  Each party warrants that its execution and performance of this Agreement and the business transactions carried out pursuant to this Agreement will not violate any Chinese Law.

 

3

 

Chapter III Cooperation Contents, and Rights and Obligations of the Parties

 

V. Cooperation Contents and Scope

 

1.                  During the term of this Agreement, Party A and Party B will cooperate, based on Official Platform Data and Contents, in providing users in mainland China (excluding Hong Kong, Macao and Taiwan) with Sogou Search Services. Except for Official Platform Data and Contents (limited to data provided by Party A) prescribed herein, Sogou shall not grab, acquire or use other contents involving Weixin or Weixin official platform in any way including through a Spider program or through any third party channels.

 

2.                  During the term of this Agreement, in the form of inventory plus regular increment , Party A will provide Party B with Official Platform Data and Contents within mainland China (excluding Hong Kong, Macao and Taiwan) and provide users in mainland China (excluding Hong Kong, Macao and Taiwan) with Sogou Search Services based on the foregoing data. In this Agreement, Incremental Package includes all the articles and contents of the official platform subscription accounts provided by Party A to Party B within mainland China (excluding Hong Kong, Macao and Taiwan) from time to time, unless Party A believes that it is inappropriate to provide pursuant to the applicable laws or regulations or relevant agreements. The specific form in which the service will be displayed and the product scheme of Party B shall be used and put online only after they are confirmed by Party A in writing (including by email). If any technical issues occur to Official Platform Data and Contents, Party A shall provide technical support to fix the issues or provide a fixing proposal. Party A’s technical supporting team is listed as follows: Contact person:              , contact information:              . Party B’s technical supporting team is listed as follows: Contact person:              , contact information:              . One Party shall immediately inform the other Party, if any changes to the technical team Contact person.

 

3.                  Party A shall furnish the publishing time of Weixin articles and recommended scores of the related articles based on the data regarding thumbs-ups, comments, originality, account followers etc. to Party B, and help Party B optimize the search results. Party A’s recommendation data is confidential, and Party B shall not abuse those recommendation data out of the scope of this Agreement or make it public or disclose to any third parties without Party A’s prior written consent.

 

4.                  During the term of this Agreement, in addition to the cooperation prescribed in this Agreement, Party B will also promote Party A’s official platform products in a manner agreed by the parties by utilizing Party B’s own user platforms and flow resources.

 

5.                  During the term of this Agreement, Party B shall, according to Party A’s requirements, provide related popular search words, hit rate, classification, search volume, click rate and other related data of search services based on Official Platform Data and Contents for Party A to manage user operation and improve user experience. Except for the Official Platform Data and Contents searched on Weixin app client pages, the Official Platform Data and Contents search services provided by Party B shall not provide and display to users the reading volume, “like” quantity and other related data. Party A shall keep the above data confidential, and without the prior written consent of Party B, Party A shall not publish, provide or reveal the above data to any third party. In addition, Party B shall take reasonable and effective technical measures to ensure the security of Official Platform Data and Contents provided by Party A, including but not limited to measures to prevent any third party from grabbing, acquiring and using official platform data in Party B’s products by artificial or technical means, and Party A shall be entitled to limit, suspend, partially or entirely terminate the provision of official platform data hereunder.

 

4

 

6.                  During the term of this Agreement, as to default search results, Party B will display the top 100 official platform data search results for viewing. If the user needs to view more search results, the user shall log in with the applicable account. In such a strategy restricting unlogged users of Party B’s products from viewing official platform data search results and similar strategies displaying varied search results by logging status, user level and other standards, unless with the written consent of Party A, Party B shall only offer the Weixin authorized logging, and logging in through third-party authorization shall be prohibited.

 

7.                  Party A authorizes Party B to provide Sogou Search Services in respect of Official Platform Data and Contents only in mainland China (excluding Hong Kong, Macao and Taiwan) and for noncommercial purposes. The explicit prior written consent of Party A is required if Party B needs to use Official Platform Data and Contents in any other territory, in any other form or for commercial purposes.

 

8.                  Neither party is required to pay to the other party or any third party any fees in respect of the cooperation hereunder.

 

9.                  Without the consent of Party A, Party B shall not, itself or assist any third party to, develop or put online any ranking lists or influence lists or other ranking products or functions of any Weixin official account or its articles and other information and contents, and shall not use the data, information and contents acquired from the cooperation hereunder to realize such products or functions.

 

10.           Without the consent of Party A, Party B shall not provide subscription systems independent from Weixin official platform (i.e., users may not subscribe or collect data or contents of Weixin official platform through any platform other than Weixin official platform), and shall not use or use in a disguised way data or contents of Weixin official platform to provide any product or service that is the same as or similar to Weixin official platform products, functions or interfaces. Party B also undertakes not to, and not to assist any third party to, put online such functions.

 

VI. Rights and Obligations of the Parties

 

1.                  Each party confirms that the documents it provides to the other party (including but not limited to business registration, tax registration and other commercial documents) are true and free from misrepresentation or fraud.

 

5

 

2.                  Party A warrants that it has the power to provide Party B with Official Platform Data and Contents according to this Agreement, and to provide Official Platform Data and Contents and updates thereof according to cooperation needs. Party A shall also use reasonable commercial efforts to make sure that data information is timely provided to Party B.

 

3.                  Party A shall use reasonable commercial efforts to make sure the data interfaces and data fields it provides meet the invocation timeliness and quality requirements as agreed upon by the parties.

 

4.                  When using Official Platform Data and Contents, Party B shall indicate that they are sourced from Party A. Party B is obliged to correctly and completely indicate the data source to be Party A and mark “services provided by Party A”, and such use of Party A’s product name shall be confirmed by Party A in writing.

 

5.                  The Official Platform Data and Contents hereunder are for use by Party B in Sogou Search Services only, and without the written permission of Party A, Party B shall not use the related data and contents for any form of sales and commercial utilization other than the purposes prescribed hereby (including but not limited to bidding rank, media stream and recommendation, except for the home page of Sogou Weixin search.), or reveal, provide or permit any third party to use the same in any way.

 

6.                  Party B may exhibit Weixin official platform Data and Contents solely in the manner of Weixin Official Platform Source Pages. Without Party A’s written consent, Party B shall not arbitrarily alter official platform Data and Contents provided by Party A, or display the information content of WeChat official platform in any way other than the source pages of WeChat official platform, including but not limited to arbitrarily editing, sorting, alter or tampering Weixin official platform data and content, or exhibit the same in a way other than the typesetting style approved.

 

7.                  Party B’s display of plugins or functions auxiliary to Official Platform Source Pages, including link to home page (profile) of Weixin official account, link to Weixin advertisement system, and comment function, must be linked to their source pages, rather than displaying them in any form other than Weixin Official Platform Source Pages, and Party B shall not shelter, insert in, or hinder by pop-up windows in any form any auxiliary plugins or functions. When any user of Party B logs into his Weixin account, his browsing and reading of Weixin official platform information and contents, number of “likes” given and other recording data shall be synchronized with Party A in a way prescribed by Party A. Party B shall make sure such user can normally use “like”, comment and other plugins and functions that are provided by Party A and auxiliary to source pages.

 

8.                  When exhibiting official platform data, Party B shall guide and instruct its users to follow the Weixin official account that releases such content, and such guidance and instruction shall be obvious, accurate, effective and clear.

 

9.                  During the performance of this Agreement, Party B shall take safe, effective and rigorous measures to prevent any third party other than parties hereto from grabbing, intercepting, acquiring and using official platform data in any way including but not limited to a Spider program. Party A may require Party B to immediately clean up, rectify or effectively upgrade the prevention measure, if Party A is aware of any third party violation. Party B shall actively cooperate with Party A to take corresponding measures. Party B shall make response within 24 hours after receiving Party A’s written notice and update Party A the processing status every 48 hours in writing during the handling process. Party A has the right to investigate Party B’s liability for breach of contract in accordance with this Agreement, if Party B fails to complete the aforesaid clean-up work with the time frame confirmed by both parties through negotiation or fails to meet the clean-up requirements determined by both parties.

 

6

 

10.           During the performance of this Agreement, Party B may not set up any subscription systems independent from Weixin official platform based on Weixin Official Platform Data and Contents.

 

11.           The written consent (including email, Weixin, or QQ discussion group of personnel designated by the parties) from Party A shall be obtained before the name of any product or service relating to Party A (including but not limited to Weixin) as prepared or edited by Party B is put online.

 

12.           Without the approval and consent of Party A, Party B shall not itself use or authorize any third party to use “Weixin”, “official account”, “official platform” and other terms or expressions in connection with Weixin or Weixin official platform in the name of any existing or future function, application or product. If any existing or future function, application or product of Party B uses any official platform data, the name of which shall be submitted to Party A for examination beforehand, without the approval and consent of Party A, Party B shall not itself use or authorize any third party to use such names. For purposes of this clause, the examination period of Party A will be 5 working days. The failure of Party A to give a reply during the examination period shall be deemed as a rejection.

 

13.           Party B shall immediately rectify its products and services (including but not limited to “Weixin headlines”) which have been put online in accordance with the rights, obligations and cooperation terms prescribed hereby. If Party B fails to complete the rectification within the time limit specified by Party A, then Party A shall be entitled to claim for liability for breach of contract according to this Agreement. Moreover, during the rectification period, Party A has the right to suspend providing data to Party B and to request Party B to delete the existing data.

 

Chapter IV Operations and Security Strategies

 

VII. Operation Specifications

 

During the term of this Agreement, Party B shall comply with the provisions of Weixin official platform operation rules, including Weixin Official Platform Service Agreement, Weixin Official Platform Operation Specifications, Tencent Service Agreement, Software Licensing and Service Agreement of Tencent Weixin and related specific rules. The related rules are published by Party A on relevant webpages and will be updated according to statutory requirements and operational needs. When any update requires any business adjustment by Party B, Party A shall inform Party B of such in advance.

 

7

 

VIII. Security Strategy Synchronization

 

1.                  The cooperation hereunder involves Party A’s product operation and backstage security strategies. Party A owns the operation and management power over Official Platform Data and Contents, and the provision, use and strategic adjustment of such data and contents shall be subject to the confirmation of Party A. Party B shall cooperate with Party A in real-time synchronization as notified by Party A (including but not limited to government supervision requirements, and complaint handling), and make sure the Official Platform Data and Contents strategies are at all times consistent with those of Party A. Any content confirmed by Party A to be deleted shall be synchronized by Party B at the same time and kept from exhibition in any way (including snapshot). In addition, Party B shall inform Party A of its strategies in real time.

 

2.                  The parties shall establish a security strategy coordination mechanism, and determine security strategies for official account data and contents according to requirements of Party A.

 

IX. Complaint & Crisis Management

 

1.                  Each party shall take responsibility for and clarify system failure or information delay caused by its own reasons. In the event of information transmission delay caused by basic communication platforms of operators, or business breakdown or service cessation caused by change of state laws, regulations, policies or adjustment of operators’ policies, which give rise to consumer complaint against Party A, or business breakdown or service cessation caused by technical failure in the process of information transmission, change of state laws, regulations, policies or adjustment of operators’ policies, either party shall immediately inform the other party so that the parties can handle the same together.

 

2.                  Party A has the right to deal with Official Platform Data and Contents that involve violation of state laws or regulations or infringe upon legitimate rights and interests of others according to government requirements, user complaint and other reasons and to timely inform Party B for synchronous handling, to which Party B shall provide active cooperation and assistance as required by Party A and ensure consistent handling strategies and results.

 

3.                  Party B shall be responsible for handling and clarification of user complaint, punishment imposed by operators or other investigation by government agencies due to reasons caused by Party B. Party A shall be responsible for handling and clarification of user complaint, punishment imposed by operators or other investigation by government agencies due to reasons caused by Party A. In addition, each party shall be liable for compensation for the loss incurred therefrom in accordance with the principles above prescribed.

 

4.                  Party B shall provide open, explicit and effective complaint handling channels and mechanisms, and shall be responsible for operational liabilities caused by its slackness in handling (within 12 hours after the receipt of a notice from Party A) complaints and other problems.

 

8

 

Chapter V User Privacy Protection

 

X. User Privacy Protection

 

1.              The parties hereof shall fully respect and protect user privacy security, and shall not disclose nonpublic information of users without the permission of users. Relevant data information shall only be used for Sogou Search Services expressly stipulated herein and shall not be used for any other purposes.

 

2.              Party B shall ensure that privacy protection systems and procedures which are as robust as those of Party A shall be developed in respect of the use of relevant information, so as to ensure that the user privacy information can be effectively protected.

 

Chapter VI Intellectual Property Protection

 

XI. Intellectual Property Protection

 

1.              Neither party may use any trademark and logo owned by the other party during the cooperation in this Agreement for any purpose other than those in this Agreement; other use for the purpose of this Agreement other than for the explicit cooperation hereunder must be subject to the prior consent of the right owner.

 

2.              Party B shall use the intellectual property logo and relevant information of the relevant data information for the cooperation hereunder and in compliance with relevant laws and regulations and agreement between the parties, and shall not modify, shield, delete or otherwise change or un-exhibit relevant logos at will.

 

3.              If either party discovers that any third party infringes the intellectual properties or other lawful rights and interests of the cooperation products, it shall promptly notify the other party, and take measures to claim against the infringer.

 

4.              Party A shall own the intellectual properties of Weixin Public Platform and related functions, contents and names according to law. In any case, the intellectual properties owned by Party A shall not be transferred in any form. Any intellectual property of the contents generated from the use of Weixin Public Platform services by a user shall belong to such user or relevant right owner, and Party B shall not infringe the legitimate intellectual properties of the user or relevant right owner.

 

5.              The Parties and their staff undertake that they shall not disparage or otherwise damage the trademark, company name and domain name owned by the other party, nor disparage, copy, distort, destroy or otherwise damage the internet webpage or website of the other party.

 

6.              This Article shall survive the termination of the term of this Agreement or termination of relevant agreements.

 

9

 

Chapter VII Confidentiality Obligation

 

XII. General Obligations.

 

1.              The commercial, marketing, technical, business or other material of either party (“Disclosing Party”) that has been or will be disclosed to the other party (“Receiving Party”) before the date of this Agreement and during the term of this Agreement was either designated as confidential information (or similar mark) at the time of disclosure, or disclosed in a confidential circumstance, or commercially reasonably determined by the parties to be confidential information (“Confidential Information”). During the term of this Agreement and three (3) years thereafter, the Receiving Party must: (A) keep Confidential Information confidential; (B) not use Confidential Information for purposes other than the purposes specified in this Agreement; and (C) not disclose to any other person other than employees of such party (or employees of its affiliates, lawyer, accountant or other consultants) on a need-to-know basis for the performance of their duties; provided that the above person shall sign a written confidentiality agreement in which the degree of confidentiality obligation shall not be lower than that of this Article.

 

2.              The obligation stipulated in the preceding Article does not apply to the following information: (A) information that is in the public domain at the time of disclosure or becomes part of the public domain after disclosure, other than as a result of the breach of the confidentiality obligation by the Receiving Party; (B) information that is in the possession of the Receiving Party at the time of disclosure and to which the Receiving Party bears no confidentiality obligation; (C) information obtained by the Receiving Party from a source other than the Disclosing Party through no breach of this Agreement; (D) information provided by the Disclosing Party to a third party without being subject to any confidentiality obligation; or (E) information independently developed by the Receiving Party without using any information disclosed by the Disclosing Party.

 

3.              Upon expiration or termination of this Agreement, or upon request of the Disclosing Party at any time, the Receiving Party shall: (A) return to the other party (or destroy, upon request of the other party) all materials and data containing Confidential Information of the other party, and (B) within ten (10) days after request of the other party, assure to the other party in writing that the above materials have been returned or destroyed.

 

XIII. Disclosure of Trade Secret

 

The disclosure of any Trade Secret by either party under any of the following circumstances shall not be deemed as a breach of this Agreement:

 

Such information is disclosed with the prior written consent of the other party, and disclosed by a party according to the requirement of law to which it is subject, provided that the disclosing party shall inform the other party in writing in advance of the exact nature of the Trade Secret to be disclosed.

 

10

 

XIV. Publicity and Statement

 

Any intended publicity of any press release, announcement, statement or advertisement of any event in connection with this Agreement or arising from this Agreement (including but not limited to the cooperation relationship between the parties) or promotion of such event shall be submitted to the other party for review and shall be subject to the prior written consent of the other party, but the other party shall not unreasonably withhold or delay such consent. Notwithstanding the foregoing provisions, either party may: (A) subject to the compliance with confidentiality provisions, disclose this Agreement and relevant contents to its shareholders, directors, officers, employees, lawyers, accountants and other professionals, or (B) disclose this Agreement and relevant contents according to the requirements of the securities laws or other relevant laws of its jurisdiction.

 

Chapter VIII Breach of the Agreement

 

XV. Liability for Breach of Contract

 

1.              Either party which breaches any obligation stipulated herein shall bear liability for breach of contract, and indemnify the other party for all losses suffered by the other party therefrom.

 

2.              If both parties have fault, the parties shall respectively bear their own liability according to the degree of their respective fault for breach of contract.

 

3.              If Party B breaches this Agreement, Party A shall be entitled to require Party B to modify, rectify, adjust or cease its products or services, and shall be entitled to suspend or terminate the call and push of data content on public platform according to the degree of breach until termination of the cooperation hereunder.

 

4.              If Party B uses any data on public platform in violation of laws and regulations or this Agreement, which causes any loss to a third party, Party B shall promptly clarify and apologize on public media with nationwide influence, and indemnify such third party for the losses suffered by it; where Party B fails to perform this Article, Party A shall be entitled to claim against Party B all expenses incurred by Party A for the settlement, litigation, mediation, arbitration and other dispute resolutions, such as attorney fee, investigation expenses, court costs, arbitration expenses, damages, and compensations.

 

Chapter IX Taxation

 

XVI. General Requirements

 

Either party shall pay its own taxes according to the provisions of Chinese Law.

 

Chapter X Term and Termination

 

XVII. Term

 

This Agreement shall come into force conditioned upon being affixed stamps by the parties. The term of this Agreement commences from March 1, 2020 and expires on February 28, 2021.   The parties have  the intention of long-term cooperation, and after the expiration of this Agreement Party B has the right to renew this Agreement under the same conditions with written notice in one month prior to the expiry date .

 

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XVIII. Termination

 

This Agreement shall be immediately terminated upon the occurrence of any of the following circumstance:

 

1.              Either party declares bankruptcy or enters into procedures for liquidation or dissolution.

 

2.              If either party breaches this Agreement, which causes this Agreement to be unable to be performed continually, or the continued performance cannot achieve the purpose of this Agreement, or such breach has infringed the lawful rights and interests of the other party, the other party shall give a 5 working days’ prior written notice to such party to terminate this Agreement; otherwise, either party may reserve the right of recourse.

 

3.              In case of new provisions, the parties may sign a supplementary agreement through friendly negotiation, which shall have equal legal effect with this Agreement.

 

4.              If, during the term of this Agreement, the conclusion or performance basis of this Agreement is fundamentally changed due to the issuance of new rules under state laws, regulations, relevant state departments and telecom operators or the change of policy environment, either party may notify the other party to modify the original agreement through negotiation. If the negotiation fails, either party may terminate this Agreement by giving a 5 working days’ prior written notice to the other party, and shall not bear any liability.

 

XIX. Matters after Termination

 

1.              The termination of this Agreement shall not affect the outstanding settlement hereunder or the payment obligation and other obligations or rights of either party accrued before the termination.

 

2.              Notwithstanding the termination of this Agreement, Chapter V and the obligations stipulated therein shall continue to have binding force upon the parties.

 

3.              Upon termination of this Agreement, Party B shall cease acquiring data and content from Party A’s public platform within the period required by Party A, and delete existing contents according to the requirement of Party A.

 

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Chapter XI Governing Law and Dispute Resolution

 

XX. Law

 

The signing, effectiveness, interpretation and enforcement of this Agreement and resolution of dispute hereunder shall be governed by the laws of the People’s Republic of China.

 

XXI. Negotiation and Mediation

 

Any dispute arising from this Agreement shall be settled through friendly negotiation between the parties; if negotiation fails, either party may file a lawsuit before the People’s Court of Nanshan District, Shenzhen at the domicile of Party A.

 

Chapter XII Supplementary Provisions

 

XXII. Waiver

 

No failure by a party to exercise or timely exercise any right, power or priority under this Agreement shall operate as a waiver of that right, power or priority, nor shall any single or partial exercise of any right, power or priority prevent the future exercise of any right, power or priority.

 

XXIII. Modification

 

This agreement shall not be modified unless by a written agreement signed by the parties.

 

XXIV. Entire Agreement

 

This Agreement constitutes the entire agreement between the parties and supersedes all previous discussions, negotiations and agreements.

 

XXV. Successors

 

This Agreement shall bind upon and inure to the benefit of the parties and their respective lawful successors and assigns.

 

XXVI. Force Majeure

 

1.              In case of Force Majeure, the performance of obligations of the parties hereunder will be suspended within the affected scope and duration of Force Majeure. Neither party shall bear any liability therefrom.

 

2.              Either party which claims to suffer Force Majeure shall notify the other party no later than 5 working days after the occurrence of Force Majeure, and subsequently a written certification with respect to Force Majeure confirmed by relevant authorities, and shall minimize the impact of Force Majeure to the extent possible.

 

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3.              In case of Force Majeure, the parties shall immediately discuss the problem resolution plans. If Force Majeure lasts for more than thirty (30) days, and has a material adverse impact on the performance of this Agreement, either party may terminate this Agreement.

 

XXVII. Assignment

 

Without the prior written consent of the other party, neither party may assign this Agreement or its rights and obligations hereunder to any third party in part or in whole.

 

XXVIII. Notice

 

Any notice or other communications sent according to this Agreement shall be in writing (including email), and sent to the following address of the parties (including email address) or other address and/or email address subsequently notified by a party to the other party in writing:

 

If to Party A:

 

Address:

 

Email address:

 

If to Party B:

 

Address:

Email address:

 

XXIX: Miscellaneous

 

1.              This Agreement shall be made in two counterparts in Chinese with each party holding one. Such two counterparts shall have the same legal effect.

 

2.              Any matter not mentioned herein shall be subject to the provisions of Chinese Law.

 

3.              Appendixes hereto are integral part of this Agreement. In case of any conflict between the appendixes and this Agreement, this Agreement shall prevail. Any matter not referred to herein shall be subject to the appendixes hereto and the separate written agreements between the parties.

 

[Remainder of this page intentionally left blank]

 

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Signed by:

 

	
Party A (Seal): Shenzhen Tencent Computer Systems   Co., Ltd.
    	
 
    	
Party B (Seal): Beijing Sogou Information Service   Co., Ltd.
    
	
 
    	
 
    	
 
    
	
Authorized Representative:
    	
 
    	
Authorized Representative:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date :
    	
 
    	
Date:
    

 

15

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