Document:

Exhibit
10.1

 

POWERBRIDGE
TECHNOLOGIES CO., LTD.

2018
Stock Option Plan

 

		1.	Purposes
                                         of the Plan. The purposes of this Plan are to attract and retain the best available
                                         personnel, to provide additional incentives to Employees, Directors and Consultants and
                                         to promote the success of the Company’s business.

 

		2.	Definitions.
                                         The following definitions shall apply as used herein and in the individual Stock
                                         Option Agreements except as defined otherwise in an individual Stock Option Agreement.
                                         In the event a term is separately defined in an individual Stock Option Agreement, such
                                         definition shall supersede the definition contained in this Section.

  

		(a)	“Administrator”
                                         means the Board or any of the Committees appointed to administer the Plan or such Officer
                                         or Officers as authorized by the Board or any of the Committees appointed to administer
                                         the Plan.

 

		(b)	“Affiliate”
                                         and “Associate” shall have the respective meanings ascribed to such
                                         terms in Rule 12b-2 promulgated under the Exchange Act.

  

		(c)	“Applicable
                                         Laws” means the legal requirements relating to the Plan and the Options under
                                         applicable provisions of the corporate and securities laws of any jurisdiction, the Code,
                                         the rules of any applicable stock exchange or national market system, and the rules of
                                         any jurisdiction applicable to Option granted to residents therein.

  

		(d)	“Appointment
                                         Letter” refers to documentation that describes the terms and conditions in
                                         which each Employee, Director, or Consultant is employed, appointed, or enlisted to service
                                         the Company and/or its subsidiaries and affiliated companies.

  

		(e)	“Articles”
                                         refers to the Company’s Memorandum of Articles of Association (Approved at
                                         the general meeting dated August 18, 2018).

  

		(f)	“Board”
                                         means the Board of Directors of the Company.

  

		(g)	“Change
                                         in Control” means a change in ownership or control of the Company effected
                                         through either of the following transactions:

 

		i.	the
                                         direct or indirect acquisition by any person or related group of persons (other than
                                         an acquisition from or by the Company or by a Company-sponsored employee benefit plan
                                         or by a person that directly or indirectly controls, is controlled by, or is under common
                                         control with, the Company) of beneficial ownership (within the meaning of Rule13d-3 of
                                         the Exchange Act) of securities possessing more than fifty percent (50%) of the total
                                         combined voting power of the Company’s outstanding securities pursuant to a tender
                                         or exchange offer made directly to the Company’s shareholders which a majority
                                         of the Continuing Directors who are not Affiliates or Associates of the offeror do not
                                         recommend such shareholders accept, or

  

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		ii.	a
                                         change in the composition of the Board over a period of thirty-six (36) months or less
                                         such that a majority of the Board members (rounded up to the next whole number) ceases,
                                         by reason of one or more contested elections for Board membership, to be comprised of
                                         individuals who are Continuing Directors.

  

		(h)	“Code”
                                         means the Internal Revenue Code of 1986, as amended.

 

		(i)	“Committee”
                                         means any committee composed of members of the Board appointed by the Board to administer
                                         the Plan, including but not limited to the Compensation Committee as appointed by the
                                         Board.

 

		(j)	“Company”
                                         means Powerbridge Technologies Co., Ltd., an exempt company incorporated in Cayman Islands.

  

		(k)	“Consultant”
                                         means any person (other than an Employee or a Director, solely with respect to rendering
                                         services in such person’s capacity as a Consultant) who is engaged by the Company
                                         or any Related Entity to render consulting or advisory services to the Company or such
                                         Related Entity.

 

		(l)	“Continuing
                                         Directors” means members of the Board who either (i) have been Board members
                                         continuously for a period of at least thirty-six (36) months or (ii) have been Board
                                         members for less than thirty-six (36) months and were elected or nominated for election
                                         as Board members by at least a majority of the Board members described in clause (i)
                                         who were still in office at the time such election or nomination was approved by the
                                         Board.

  

		(m)	“Continuous
                                         Service” means that the provision of services to the Company or a Related Entity
                                         in any capacity of Employee, Director or Consultant (collectively, “Service Provider”)
                                         is not interrupted or terminated. In jurisdictions requiring notice in advance of an
                                         effective termination as an Employee, Director or Consultant, Continuous Service shall
                                         be deemed terminated upon the actual cessation of providing services to the Company or
                                         a Related Entity notwithstanding any required notice period that must be fulfilled before
                                         a termination as an Employee, Director or Consultant can be effective under Applicable
                                         Laws. An Optionee’s Continuous Service shall be deemed to have terminated either
                                         upon an actual termination of Continuous Service or upon the entity for which the Optionee
                                         provides services ceasing to be a Related Entity. Continuous Service shall not be considered
                                         interrupted in the case of (i) any approved leave of absence, (ii) transfers among the
                                         Company, any Related Entity, or any successor, in any capacity of Employee, Director
                                         or Consultant, or (iii) any change in status as long as the individual remains in the
                                         service of the Company or a Related Entity in any capacity of Employee, Director or Consultant
                                         (except as otherwise provided in the Option Agreement). An approved leave of absence
                                         shall include sick leave, military leave, or any other authorized personal leave.

 

		(n)	“Corporate
                                         Transaction” means any of the following transactions, provided, however, that
                                         the Administrator shall determine under parts (iv) and (v) whether multiple transactions
                                         are related, and its determination shall be final, binding and conclusive:

 

		i.	a
                                         merger or consolidation in which the Company is not the surviving entity, except for
                                         a transaction the principal purpose of which is to change the jurisdiction in which the
                                         Company is incorporated;

  

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		ii.	the
                                         sale, transfer or other disposition of all or substantially all of the assets of the
                                         Company;

  

		iii.	the
                                         complete liquidation or dissolution of the Company;

 

		iv.	any
                                         reverse merger or series of related transactions culminating in a reverse merger (including,
                                         but not limited to, a tender offer followed by a reverse merger) in which the Company
                                         is the surviving entity but (A) the Ordinary Shares outstanding immediately prior to
                                         such merger are converted or exchanged by virtue of the merger into other property, whether
                                         in the form of securities, cash or otherwise, or (B) in which securities possessing more
                                         than forty percent (40%) of the total combined voting power of the Company’s outstanding
                                         securities are transferred to a person or persons different from those who held such
                                         securities immediately prior to such merger or the initial transaction culminating in
                                         such merger, but excluding any such transaction or series of related transactions that
                                         the Administrator determines shall not be a Corporate Transaction; or

 

		v.	acquisition
                                         in a single or series of related transactions by any person or related group of persons
                                         (other than the Company or by a Company-sponsored employee benefit plan) of beneficial
                                         ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing
                                         more than fifty percent (50%) of the total combined voting power of the Company’s
                                         outstanding securities but excluding any such transaction or series of related transactions
                                         that the Administrator determines shall not be a Corporate Transaction.

  

		(o)	“Director”
                                         means a member of the Board or the board of directors of any Related Entity.

 

		(p)	“Disability”
                                         means as defined under the long-term disability policy of the Company or the Related
                                         Entity to which the Optionee provides services regardless of whether the Optionee is
                                         covered by such policy. If the Company or the Related Entity to which the Optionee provides
                                         service does not have a long-term disability plan in place, “Disability”
                                         means that an Optionee is unable to carry out the responsibilities and functions of the
                                         position held by the Optionee by reason of any medically determinable physical or mental
                                         impairment for a period of not less than ninety (90) consecutive days. An Optionee will
                                         not be considered to have incurred a Disability unless he or she furnishes proof of such
                                         impairment sufficient to satisfy the Administrator in its discretion.

  

		(q)	“Effective
                                         Date” means the date the Plan is adopted and approved by the shareholders of
                                         the Company, whether it be the first time the Plan is approved, or each date the Plan
                                         is renewed pursuant to shareholder approval in subsequent terms.

  

		(r)	“Employee”
                                         means any person, including an Officer or Director, who is in the employment of the Company
                                         or any Related Entity, subject to the control and direction of the Company or any Related
                                         Entity as to both the work to be performed and the manner and method of performance.
                                         The payment of a director’s fee by the Company or a Related Entity shall not be
                                         sufficient to constitute “employment” by the Company.

   

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		(s)	“Exchange
                                         Act” means the Securities Exchange Act of 1934, as amended.

  

		(t)	“Fair
                                         Market Value” means, as of any date, the value of the subject Shares determined
                                         as follows:

 

		i.	If
                                         the Shares at issue are listed on one or more established stock exchanges or national
                                         market systems, including without limitation the American Stock Exchange or The Nasdaq
                                         Global Market, its Fair Market Value shall be the closing sales price for such shares
                                         (or the closing bid, if no sales were reported) as quoted on the principal exchange or
                                         system on which the subject Shares are listed (as determined by the Administrator) on
                                         the date of determination (or, if no closing sales price or closing bid was reported
                                         on that date, as applicable, on the last trading date such closing sales price or closing
                                         bid was reported), as reported in The Wall Street Journal or such other source as the
                                         Administrator deems reliable;

 

		ii.	If
                                         the subject Shares are regularly quoted on an automated quotation system (including the
                                         OTC Bulletin Board) or by a recognized securities dealer, its Fair Market Value shall
                                         be the closing sales price for such shares as quoted on such system on the date of determination,
                                         but if selling prices are not reported, the Fair Market Value of the subject Shares shall
                                         be the mean between the high bid and low asked prices for the Shares on the date of determination
                                         (or, if no such prices were reported on that date, on the last date such prices were
                                         reported), as reported in The Wall Street Journal or such other source as the Administrator
                                         deems reliable; or

 

		iii.	In
                                         the absence of an established market for the subject Shares of the type described in
                                         (i) and (ii), above, the Fair Market Value thereof shall be determined by the Administrator
                                         in good faith.

  

		(u)	“Listing”
                                         refers to a successful initial public offering in the Company’s Ordinary Shares
                                         to be traded on a globally accredited stock exchange.

 

		(v)	“Incentive
                                         Share Option” means an Option that is to qualify as an Incentive Share Option
                                         as such term is defined in Section 422 of the Code.

 

		(w)	“Officer”
                                         means a person who is an officer of the Company or a Related Entity within the meaning
                                         of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

 

		(x)	“Option”
                                         means an option to purchase Ordinary Shares pursuant to an Option Agreement granted under
                                         the Plan.

 

		(y)	“Optionee”
                                         means an Employee, Director or Consultant who receives an Option under the Plan.

  

		(z)	“Ordinary
                                         Shares” means the Ordinary Shares in the capital of the Company having a par
                                         value of USD0.00166667 each having rights, and subject to the restrictions provided in
                                         the Company’s Articles. One Ordinary Share shall equate to one vote per share for
                                         each share held by the shareholder and cannot be converted to any other class of share
                                         at any time.

   

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		(aa)	“Plan”
                                         means this Powerbridge Technologies Co., Ltd. 2018 Stock Option Plan.

  

		(bb)	“Related
                                         Entity” means any Parent or Subsidiary of the Company and any business, corporation,
                                         partnership, limited liability company or other entity in which the Company or a Parent
                                         or a Subsidiary of the Company holds a substantial ownership interest, directly or indirectly.

 

		(cc)	“Replaced”
                                         means that pursuant to a Corporate Transaction the Option is replaced with a comparable
                                         share Option or a cash incentive program of the Company, the successor entity (if applicable)
                                         or Parent of either of them which preserves the compensation element of such Option existing
                                         at the time of the Corporate Transaction and provides for subsequent payout in accordance
                                         with the same (or a more favorable) vesting schedule applicable to such Option. The determination
                                         of Option comparability shall be made by the Administrator and its determination shall
                                         be final, binding and conclusive.

  

		(dd)	“Share”
                                         or “Shares” means Ordinary Shares of the Company.

 

		(ee)	“Stock
                                         Option Agreement” or “Option Agreement” means the written
                                         agreement evidencing the grant of an Option executed by the Company and the Optionee,
                                         including any amendments thereto.

 

		(ff)	“Subsidiary”
                                         means a “subsidiary corporation”, whether now or hereafter existing, as defined
                                         in Section 424(f) of the Code.

  

		(gg)	“Trading
                                         Market Approval” means the pre-approval required from the globally accredited
                                         stock exchange or other stock exchange on which the Company’s Shares are then listed
                                         for trading for certain Share issuances.

 

		3.	Shares
                                         Subject to the Plan.

 

		(a)	Subject
                                         to the provisions of Section 10 below, the maximum aggregate number of Ordinary Shares
                                         reserved and available pursuant to this Plan shall be the aggregate of (i) 1,035,787
                                         Shares, and (ii) on each January 1, starting with January 1, 2019, an additional number
                                         of shares equal to the lesser of (A) 2% of the outstanding number of Ordinary Shares
                                         (on a fully-diluted basis) on the immediately preceding December 31, and (B) such lower
                                         number of Ordinary Shares as may be determined by the Committee, subject in all cases
                                         to adjustment as provided in Section 10 below (the “Evergreen Plan”).

 

		(b)	Further,
                                         if, after the Effective Date of the Plan, any Shares underlying an Option are forfeited,
                                         or if an Option otherwise terminates without the delivery of Shares or of other consideration,
                                         then the Shares underlying such Option, or the number of Shares otherwise counted against
                                         the aggregate number of Shares available under the Plan with respect to the Option, to
                                         the extent of any such forfeiture or termination, shall again be, or shall become, available
                                         for granting options under the Plan.

  

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		4.	Administration
                                         of the Plan.

  

		(a)	Plan
                                         Administrator.

 

		i.	Administration
                                         with Respect to Directors and Officers. With respect to grants of Options to Directors
                                         or Employees who are also Officers or Directors of the Company, the Plan shall be administered
                                         by (A) the Board or (B) the Compensation Committee designated by the Board, which Compensation
                                         Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once
                                         appointed, such Compensation Committee shall continue to serve in its designated capacity
                                         contingent to its members’ ongoing fulfillment of obligations, the terms of termination
                                         of Committee members as stipulated by their Appointment Letters, or until otherwise directed
                                         by the Board. In the case of Options for Employees or Consultants who are neither Directors
                                         nor Officers of the Company, the Board may authorize one or more Officers to grant such
                                         Options and may limit such authority as the Board determines from time to time.

 

		ii.	Administration
                                         Errors. In the event an Option is granted in a manner inconsistent with the
                                         provisions of this subsection (a), such Option shall be presumptively valid as of its
                                         grant date to the extent permitted by the Applicable Laws.

  

		(b)	Powers
                                         of the Administrator. Subject to Applicable Laws, especially but not limited to those
                                         regarding shareholders approval, and the provisions of the Plan (including any other
                                         powers given to the Administrator hereunder), and except as otherwise provided by the
                                         Board, the Administrator shall have the authority, in its discretion:

 

		i.	To
                                         select the Employees, Directors and Consultants to whom Options may be granted;

 

		ii.	To
                                         determine whether and to what extent Options are granted hereunder;

  

		iii.	To
                                         determine the number of Shares or the amount of other consideration to be covered by
                                         each Option granted hereunder;

  

		iv.	To
                                         approve forms of Option Agreements for use under the Plan;

  

		v.	To
                                         determine the terms and conditions of any Option subject to the terms and conditions
                                         contained herein

  

		vi.	To
                                         amend the terms of any outstanding Option granted under the Plan, provided that (A) any
                                         amendment that would adversely affect the Optionee’s rights under an outstanding
                                         Option shall not be made without the Optionee’s written consent, (B) the reduction
                                         of the exercise price of any Option shall be subject to the Optionee’s written
                                         consent and (C) canceling an Option at a time when its exercise price exceeds the Fair
                                         Market Value of the underlying Shares, in exchange for another Option shall be subject
                                         to the Optionee’s approval, unless the cancellation and exchange occurs in connection
                                         with a Corporate Transaction. Notwithstanding the foregoing, canceling an Option in exchange
                                         for another Option with an exercise price, purchase price that is equal to or greater
                                         than the exercise price of the original Option shall not be subject to the Optionee’s
                                         approval;

  

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		vii.	To
                                         construe and interpret the terms of the Plan and Options, including without limitation,
                                         any notice of Option or Option Agreement, granted pursuant to the Plan;

  

		viii.	To
                                         take such other action, not inconsistent with the terms of the Plan, as the Administrator
                                         deems appropriate.

 

		(c)	Indemnification.
                                         In addition to such other rights of indemnification as they may have as members of
                                         the Board or as Officers or Employees of the Company or a Related Entity, members of
                                         the Board and any Officers or Employees of the Company or a Related Entity to whom authority
                                         to act for the Board, the Administrator or the Company is delegated shall be defended
                                         and indemnified by the Company to the extent permitted by law on an after-tax basis against
                                         all reasonable expenses, including attorneys’ fees, actually and necessarily incurred
                                         in connection with the defense of any claim, investigation, action, suit or proceeding,
                                         or in connection with any appeal therein, to which they or any of them may be a party
                                         by reason of any action taken or failure to act under or in connection with the Plan,
                                         or any Option granted hereunder, and against all amounts paid by them in settlement thereof
                                         (provided such settlement is approved by the Company) or paid by them in satisfaction
                                         of a judgment in any such claim, investigation, action, suit or proceeding, except in
                                         relation to matters as to which it shall be adjudged in such claim, investigation, action,
                                         suit or proceeding that such person is liable for gross negligence, bad faith or intentional
                                         misconduct; provided, however, that within thirty (30) days after the institution
                                         of such claim, investigation, action, suit or proceeding, such person shall offer to
                                         the Company, in writing, the opportunity at the Company’s expense to defend the
                                         same.

 

For
the purpose of this clause “gross negligence” means in relation to a person a standard of conduct constituting extreme
carelessness, beyond ordinary negligence, whereby that person’s actions or inactions demonstrate reckless disregards for
the duty of care owed to another.

  

		5.	Eligibility.
                                         The Optionees shall be such persons as the Administrator may select from among the
                                         Employees, Directors, and Consultants.

  

		6.	Terms
                                         and Conditions of Options.

  

		a.	Designation
                                         of Option. Each Option shall be designated in the Option Agreement.

 

		b.	Conditions
                                         of Option. Subject to the terms of the Plan, the Administrator shall determine the
                                         provisions, terms, and conditions of each Option including, but not limited to, the Option
                                         vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions,
                                         form of payment (cash, Shares, cashless settlement, or other consideration) upon settlement
                                         of the Option, payment contingencies and the exercise price.

  

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		c.	Deferral
                                         of Option Payment. The Administrator may establish one or more programs under the
                                         Plan to permit selected Optionees the opportunity to elect to defer receipt of consideration
                                         upon exercise of an Option, or other event that absent the election would entitle the
                                         Optionee to payment or receipt of Shares or other consideration under an Option. The
                                         Administrator may establish the election procedures, the timing of such elections, the
                                         mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts,
                                         Shares or other consideration so deferred, and such other terms, conditions, rules and
                                         procedures that the Administrator deems advisable for the administration of any such
                                         deferral program.

  

		d.	Early
                                         Exercise. The Option Agreement may, but need not, include a provision whereby the
                                         Optionee may elect at any time while an Employee, Director or Consultant to exercise
                                         any part or all of the Option prior to full vesting of the Option. Any unvested Shares
                                         received pursuant to such exercise may be subject to a repurchase right in favor of the
                                         Company or a Related Entity or to any other restriction the Administrator determines
                                         to be appropriate.

  

		e.	Term
                                         of Option. The term of each Option shall be the term stated in the Option Agreement,
                                         provided, however that in the case of an option that is to qualify as an Incentive Share
                                         Option, the term shall not exceed ten (10) years.

  

		f.	Transferability
                                         of Options. Options shall be transferable (i) by will and by the laws of succession
                                         and distribution and (ii) during the lifetime of the Optionee, to the extent and in the
                                         manner authorized by the Administrator. Notwithstanding the foregoing, the Optionee may
                                         designate one or more beneficiaries of the Optionee’s Option in the event of the
                                         Optionee’s death on a beneficiary designation form provided by the Administrator.

  

		g.	Termination
                                         of Employment Other than by Death or Disability.

 

		i.	If
                                         an Optionee ceases to be an Employee for any reason other than his or her death or disability,
                                         the Optionee shall have the right, subject to the provisions of this Section 6, to exercise
                                         any Option held by the Optionee at any time within sixty (60) days after his or her termination
                                         of employment, but not beyond the otherwise applicable term of the Option and only to
                                         the extent that on such date of termination of employment the Optionee’s right
                                         to exercise such Option has vested.

 

		ii.	For
                                         purposes of this Section 6(j), the employment relationship shall be treated as continuing
                                         intact while the Optionee is an active Employee of the Company or any Affiliate, or is
                                         on military leave, sick leave, or other bona fide leave of absence to be determined in
                                         the sole discretion of the Administrator.

   

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		h.	Death
                                         of Optionee. If an Optionee dies while an Employee, or after ceasing to be an Employee
                                         but during the period while he or she could have exercised an Option under Section 6(j),
                                         any Option granted to the Optionee may be exercised, to the extent it had vested at the
                                         time of death and subject to the Plan, at any time within six (6) months after the Optionee’s
                                         death, by the executors or administrators of his or her estate or by any person or persons
                                         who acquire the Option by will or the laws of succession and distribution, but not beyond
                                         the otherwise applicable term of the Option.

 

		i.	Disability
                                         of Optionee. If an Optionee ceases to be an Employee due to becoming totally and
                                         permanently disabled within the meaning of Section 22(e)(3) of the Code, any Option granted
                                         to the Optionee may be exercised to the extent it had vested at the time of cessation
                                         and, subject to the Plan, at any time within three (3) months after the Optionee’s
                                         termination of employment, but not beyond the otherwise applicable term of the Option.

  

		j.	Time
                                         of Granting Options. The date of grant of an Option shall for all purposes be on
                                         the date which the Administrator makes the determination to grant such Option, or such
                                         other date as is determined by the Administrator.

  

		7.	Option
                                         Exercise or Purchase Price, Consideration and Taxes.

 

		(a)	Exercise
                                         or Purchase Price. The Administrator shall determine the exercise or purchase price
                                         in accordance with the Applicable Laws and/or pursuant to the Option Agreement to be
                                         executed between the Company and Optionee, if applicable or other relevant agreement
                                         between such parties.

 

		(b)	Consideration.
                                         Subject to Applicable Laws, the consideration to be paid for the Shares to be issued
                                         upon exercise or purchase of an Option including the method of payment shall be determined
                                         by the Administrator. In addition to any other types of consideration the Administrator
                                         may determine, the Administrator is authorized to accept as consideration for Shares
                                         issued under the Plan the following:

  

		i.	cash;

 

		ii.	cheque;

 

		iii.	with
                                         respect to Options, payment through a broker-dealer sale and remittance procedure pursuant
                                         to which the Optionee (A) shall provide written instructions to a Company designated
                                         brokerage firm to effect the immediate sale of some or all of the purchased Shares and
                                         remit to the Company sufficient funds to cover the aggregate exercise price payable for
                                         the purchased Shares and (B) shall provide written directives to the Company to deliver
                                         the certificates for the purchased Shares directly to such brokerage firm in order to
                                         complete the sale transaction;

  

		iv.	cashless
                                         election; or

  

		v.	any
                                         combination of the foregoing methods of payment.

 

		(c)	Taxes.
                                         No Shares shall be delivered under the Plan to any Optionee or other person until
                                         such Optionee or other person has made arrangements acceptable to the Administrator for
                                         the satisfaction of any national, provincial or local income and employment tax withholding
                                         obligations. Upon exercise of an Option the Company shall have the right, but not the
                                         obligation (except as required by applicable law), to withhold or collect from Optionee
                                         an amount sufficient to satisfy such tax obligations. The Optionee will be solely responsible
                                         for his/her own tax obligations.

  

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		8.	Exercise
                                         of Option.

 

		(a)	Procedure
                                         for Exercise; Rights as a Shareholder.

 

		i.	Any
                                         Option granted hereunder shall be exercisable at such times and under such conditions
                                         as determined by the Administrator under the terms of the Plan and specified in the Option
                                         Agreement.

 

		ii.	An
                                         Option shall be deemed to be exercised when written notice of such exercise has been
                                         given to the Company in accordance with the terms of the Option by the person entitled
                                         to exercise the Option and when the Company receives full payment for the Shares with
                                         respect to which the Option is exercised, including, to the extent selected, use of the
                                         broker-dealer sale and remittance procedure to pay the purchase price as provided in
                                         Section 7(b)(iii).

  

		9.	Conditions
                                         Upon Issuance of Shares.

 

		(a)	Shares
                                         shall not be issued pursuant to the exercise of an Option unless the exercise of such
                                         Option and the issuance and delivery of such Shares pursuant thereto shall comply with
                                         all Applicable Laws, and shall be further subject to the approval of counsel for the
                                         Company with respect to such compliance.

 

		(b)	As
                                         a condition to the exercise of an Option, the Company may require the person exercising
                                         such Option to represent and warrant at the time of any such exercise that the Shares
                                         are being purchased only for investment and without any present intention to sell or
                                         distribute such Shares if, in the opinion of counsel for the Company, such a representation
                                         is required by any Applicable Laws.

  

		10.	Adjustments
                                         upon Changes in Capitalization.

 

Subject
to any required action by the shareholders of the Company, the number of Shares covered by each outstanding Option, and the number
of Shares which have been authorized for issuance under the Plan but as to which no Options have yet been granted or which have
been returned to the Plan, the exercise or purchase price of each such outstanding Option, the maximum number of Shares with respect
to which Options may be granted to any Optionee in any fiscal year of the Company, as well as any other terms that the Administrator
determines require adjustment shall be proportionately adjusted for (i) any increase or decrease in the number of issued Ordinary
Shares resulting from a share split, reverse share split, share dividend, combination or reclassification of the Ordinary Shares,
or similar transaction affecting the Shares, (ii) any other increase or decrease in the number of issued Ordinary Shares effected
without receipt of consideration by the Company, or (iii) as the Administrator may determine in its discretion, any other transaction
with respect to Ordinary Shares including a corporate merger, consolidation, acquisition of property or equity, separation (including
a spin-off or other distribution of shares or property), reorganization, liquidation (whether partial or complete) or any similar
transaction; provided, however that conversion of any convertible securities of the Company shall not be deemed to have been
“effected without receipt of consideration.” Such adjustment shall be made by the Administrator and its determination
shall be final, binding and conclusive. Except as the Administrator determines, no issuance by the Company of shares of any class,
or securities convertible into shares of any class, shall affect, and no adjustment by reason hereof shall be made with respect
to, the number or price of Shares subject to an Option. In the event of a spin-off transaction, the Administrator may in its discretion
make such adjustments and take such other action as it deems appropriate with respect to outstanding Options under the Plan, including
but not limited to: (i) adjustments to the number and kind of shares, the exercise or purchase price per share and the vesting
periods of outstanding Options, (ii) prohibit the exercise of Options during certain periods of time prior to the consummation
of the spin-off transaction, or (iii) the substitution, exchange or grant of Options to purchase securities of the Subsidiary;
provided that the Administrator shall not be obligated to make any such adjustments or take any such action hereunder.

   

    10

     

    

 

		11.	Corporate
                                         Transactions and Changes in Control.

 

		(a)	Termination
                                         of Option to Extent Not Assumed in Corporate Transaction. Effective upon the consummation
                                         of a Corporate Transaction, all outstanding Options under the Plan shall terminate; provided,
                                         however, that to extent any Options are assumed in connection with the Corporate Transaction
                                         (“Assumed”), such Options shall not terminate.

 

		(b)	Acceleration
                                         of Option Upon Corporate Transaction or Change in Control.

  

		i.	Corporate
                                         Transaction. The Administrator may determine, in the event of a Corporate Transaction,
                                         for the portion of each Option that is neither Assumed nor Replaced, such portion of
                                         the Option shall automatically become fully vested and exercisable and be released from
                                         any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair
                                         Market Value) for all of the Shares (or other consideration) at the time represented
                                         by such portion of the Option, immediately prior to the specified effective date of such
                                         Corporate Transaction, provided that the Optionee’s Continuous Service has not
                                         terminated prior to such date.

 

		ii.	Change
                                         in Control. The Administrator may determine, in the event of a Change in Control
                                         (other than a Change in Control which also is a Corporate Transaction), each Option which
                                         is at the time outstanding under the Plan automatically shall become fully vested and
                                         exercisable and be released from any repurchase or forfeiture rights (other than repurchase
                                         rights exercisable at Fair Market Value), immediately prior to the specified effective
                                         date of such Change in Control, for all of the Shares (or other consideration) at the
                                         time represented by such Option, provided that the Optionee’s Continuous Service
                                         has not terminated prior to such date.

  

		12.	Effective
                                         Date and Term of Plan. 

 

The
Plan shall become effective on the date of the Company’s contemplated initial public offering is completed (“IPO”).
It shall continue in effect for a term of ten (10) years unless sooner terminated or unless renewed for another period not to
exceed ten (10) years pursuant to shareholder approval. Subject to Section 17, below, and Applicable Laws, Options may be granted
under the Plan upon its becoming effective.

   

    11

     

    

 

		13.	Amendment,
                                         Suspension or Termination of the Plan.

 

		(a)	The
                                         Board may at any time amend, suspend or terminate the Plan; provided, however, that
                                         no such amendment shall be made without the approval of the Company’s shareholders
                                         to the extent such approval is required by Applicable Laws, or if such amendment would
                                         change any of the provisions of Section 3(a), Section 4(b)(vi) or this Section 13(a).

 

		(b)	No
                                         Option may be granted during any suspension of the Plan or after termination of the Plan.

  

		(c)	No
                                         suspension or termination of the Plan (including termination of the Plan under Section
                                         12 above) shall adversely affect any rights under Options already granted to an Optionee.

  

		14.	Reservation
                                         of Shares.

 

		(a)	The
                                         Company, during the term of the Plan, will at all times reserve and keep available out
                                         of its authorized but unissued Shares, such number of Shares as shall be sufficient to
                                         satisfy the requirements of the Plan.

 

		(b)	The
                                         inability of the Company to obtain authority from any regulatory body having jurisdiction,
                                         which authority is deemed by the Company’s counsel to be necessary to the lawful
                                         issuance and sale of any Shares hereunder, shall relieve the Company of any liability
                                         in respect of the failure to issue or sell such Shares as to which such requisite authority
                                         shall not have been obtained.

  

		15.	No
                                         Effect on Terms of Employment/Consulting Relationship. 

 

The
Plan shall not confer upon any Optionee any right with respect to the Optionee’s Continuous Service, nor shall it interfere
in any way with his or her right or the right of the Company or any Related Entity to terminate the Optionee’s Continuous
Service at any time, with or without Cause, and with or without notice. The ability of the Company or any Related Entity to terminate
the employment of an Optionee who is employed at will is in no way affected by its determination that the Optionee’s Continuous
Service has been terminated for Cause for the purposes of this Plan. For Cause shall have the meaning and conditions set forth
under Termination clauses, where applicable, in each such Optionee’s Appointment Letter with the Company.

  

		16.	No
                                         Effect on Retirement and Other Benefit Plans. 

 

Except
as specifically provided in a retirement or other benefit plan of the Company or a Related Entity, Options shall not be deemed
compensation for purposes of computing benefits or contributions under any retirement plan of the Company or a Related Entity,
and shall not affect any benefits under any other benefit plan of any kind or any benefit plan subsequently instituted under which
the availability or amount of benefits is related to level of compensation. The Plan is not a “Retirement Plan” or
“Welfare Plan” under the Employee Retirement Income Security Act of 1974, as amended.

   

    12

     

    

 

		17.	Shareholder
                                         and Trading Market Approval. 

 

		(a)	Subject
                                         to the Applicable Laws, including but not limited to Nasdaq Rule 5635(c), once this Plan
                                         is approved by the shareholders of the Company, the granting of individual Options hereunder
                                         will not require any further shareholder approvals, unless such approval is required
                                         under Applicable Laws.

		(b)	If
                                         required by the Applicable Laws, no Options shall be granted unless and until the Company
                                         received Trading Market Approval of such Options and the Shares underlying such Options.

  

		18.	Unfunded
                                         Obligation. 

 

Optionees
shall have the status of general unsecured creditors of the Company. Any amounts payable to Optionees pursuant to the Plan shall
be unfunded and unsecured obligations for all purposes. Neither the Company nor any Related Entity shall be required to segregate
any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations.
The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company
may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Optionee
account shall not create or constitute a trust or fiduciary relationship between the Administrator, the Company or any Related
Entity and an Optionee, or otherwise create any vested or beneficial interest in any Optionee or the Optionee’s creditors
in any assets of the Company or a Related Entity. The Optionees shall have no claim against the Company or any Related Entity
for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan.

  

		19.	Shareholder
                                         Rights

 

Except
as otherwise provided in this Plan an Optionee shall have none of the rights of a shareholder of the Company with respect to the
Shares covered by any Option until the Optionee becomes the recorded owner of such Shares.

  

		20.	Construction.
                                         

 

Captions
and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the
Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular.
Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

  

		21.	Information
                                         to Optionees. 

 

Each
Optionee shall be provided with such information regarding the Company as the Board or the Committee from time to time deems necessary
or appropriate; provided, however, that each Optionee shall at all times be provided with such information as is required
to be provided from time to time pursuant to applicable regulatory requirements.

  

		22.	Governing
                                         Law

 

The
Plan and any Agreements under the Plan hereunder shall be administered, interpreted and enforced under the laws of the Cayman
Islands without regard to conflicts of laws thereof.

    

(The
remainder of this page is intentionally left blank)

    13Exhibit 10.2

 

Business Cooperation Agreement and Valuation
Adjustment Mechanism and Indemnification

Agreement

 

This Business Cooperation Agreement and Valuation Adjustment
Mechanism and Indemnification Agreement (hereinafter, this “Agreement”) is made and entered into on [August 26,
2018] in [Changsha] by and among:

 

		(1)	The Company: Sichuan Jinkailong Automobile Leasing Co., Ltd.

 

Unified social credit code: 91510115MA62NLDU04

 

Place of business: Floor 2, Building
1, No. 2 Liudao Street, Jinma Town, Wenjiang District, Chengdu City

 

		(2)	Party A: Hunan Ruixi Financial Leasing Co., Ltd.

 

Unified social credit code: 91430100MA4PDEM573

 

Place of business: Room 910, Building
1, Huitong Building, No. 168 Hehua Road, Hehuayuan Street, Furong District, Changsha City, Hunan Province

 

		(3)	Party B: Xiaoliang Chen

 

Identity card number: 330727198705232217

 

Domicile: No. 135, Xichan Village,
Renchuan Town, Pan’an County, Zhejiang Province

 

		(4)	Party C: Xi Yang

 

Identity card number: 522426198609164722

 

Domicile: No. 31, Group 13, Fangbei
Village, Nanquan Town, Shifang City, Sichuan Province

 

		(5)	Party D: Yiqiang He

 

Identity card number: 510682198606094755

 

Domicile: No. 31, Group 13, Fangbei
Village, Nanquan Town, Shifang City, Sichuan Province

 

		(6)	Party E: Xiaohui Luo

 

Identity card number: 510902198602214670

 

Domicile: No. 2, Group 4, Qilidian
Village, Baoshi Town, Anju District, Suining City, Sichuan Province

 

Of which, Party C and Party D are husband and wife; Party B,
Party C, Party D and Party E shall be collectively referred to hereinafter as the “Original Shareholders”.

 

Whereas,

 

		1.	Sichuan Jinkailong Automobile Leasing Co., Ltd. is a limited liability company duly established
and validly existing under the law of the People’s Republic of China, and as of the execution date of this Agreement, it
has a registered capital of RMB10 million, with its shareholding set out in the table below:

 

	Name of shareholder	Capital contribution (in RMB million)	Shareholding percentage
	Xiaoliang Chen	Subscribed for 5.3	Actual paid-in is 0	53%
	Xi Yang	Subscribed for 4.7	Actual paid-in is 0	47%

 

    	 	 	 

     

    

 

		2.	Party A is willing to acquire 35% of the shares in the Company held by the Original Shareholders
in the aggregate. After Party A becomes a shareholder of the Company, it will jointly operate the Company with the Original Shareholders
and they will enter into a number of business cooperation arrangements.

 

In order to
better expand the Company’s business and market share and to protect the legitimate rights and interests of each party, the
Parties have entered into this Agreement on the following terms and conditions after due negotiation regarding the issue of joint
cooperation among them in accordance with applicable state laws, regulations and consistent with principles of equality, mutual
benefit and furtherance of growth together:

 

		1.	Matter of Cooperation

 

		1.1	Party A is willing to acquire 35% of the shares in the Company in the aggregate held by the Original
Shareholders for the own account or by the Original Shareholders on the behalf of others for a consideration of RMB0.

 

		1.2	After the completion of this share acquisition, Party A will entrust the Original Shareholders
with the operation and management of the Company, which shall set up a management team meeting the requirements of Party A to develop
the business.

 

		2.	After the completion of the above acquisition, Party A shall, in its capacity of a shareholder
of the Company, enter into an automobile sale cooperation arrangement with the Target Company in an amount not more than RMB40
million.

 

		3.	Shareholding in the Company

 

		3.1	As of the execution date of this Agreement, the registered capital of the Company is RMB10 million.
The shareholding structure of the Company as registered at the authority for industry and commerce is set out in the table below:

 

	Name of shareholder	Capital contribution (in RMB million)	Shareholding percentage
	Xiaoliang Chen	Subscribed for 5.3	Actual paid-in is 0	53%
	Xi Yang	Subscribed for 4.7	Actual paid-in is 0	47%

 

		3.2	Pursuant to the Share Entrustment Agreement between Party C and Party D dated April 26, 2018, Party
C shall hold the 42.3% of shares in the Company on the behalf of Party D, the amount of whose shares was paid by Party D; pursuant
to the Share Entrustment Agreement between Party B and Party E dated April 26, 2018, Party B shall hold the 5.3% of shares in the
Company on the behalf of Party E, the amount of whose shares was paid by Party E; pursuant to the Share Entrustment Agreement between
Party C and Party E dated April 26, 2018, Party C shall hold the 4.7% shares in the Company on the behalf of Party E, the amount
of whose shares was paid by Party E, with the details set out in the following table:

 

	Shareholder with industrial and commercial registration	Industrial and commercial shareholding 	Actual holder	Shareholding as entrusted
	Xiaoliang Chen	53%	Xiaoliang Chen	47.7%
	Xiaohui Luo	5.3%
	Xi Yang	47%	Yiqiang He	42.3%
	Xiaohui Luo	4.7%

 

    	 	 	 

     

    

 

		3.3	Party B, Party D and Party E are the actual shareholders of the Company, collectively holding 100%
of the shares in the Company.

 

		4.	Share Acquisition

 

		4.1	Party A will acquire 35% shares in the aggregate in the Company held by the Original Shareholders
for their own account and for others. The actual shareholders agree and authorize Party B to transfer the 18.55% shares it held
in the Company and interests therein to Party A for a consideration of RMB0, and authorize Party C to transfer the 16.45% shares
it held in the Company and interests therein to Party A for a consideration of RMB0 (collectively, the “Share Acquisition”).
After the completion of this share acquisition, the shareholders and their shareholding in the Company shall be as set forth in
the following table:

 

	Shareholder name	Capital contribution (in RMB million)	Shareholding percentage
	Hunan Ruixi Financial Leasing Co., Ltd.	Subscribed for 3.5	Actually paid 0	35%
	Xiaoliang Chen	Subscribed for 3.445	Actually paid 0	34.45%
	Xi Yang	Subscribed for 3.055	Actually paid 0	30.55%

 

 

		4.2	Party A, on the one part, and Party B, Party C, on the other part, will enter into the Share
Transfer Agreement on the matter of the Share Acquisition, and will process changes of industrial and commercial registration.

 

		4.3	The Original Shareholders undertake that, after the completion of the Share Acquisition, none of
the shareholders of the Company (other than Party A) shall hold more than 35% of shares in the Company, and all shareholders shall
assist Party A with the consolidation of financial statements regarding the Company, and ensure Party A has a control of the general
meeting and board of directors of the Company.

 

		4.4	After the completion of the Share Acquisition, Party A shall hold 35% of the shares in the Company,
and the Original Shareholders shall collectively hold 65% of the shares. The shareholders with industrial and commercial registration,
and actual shareholders’ shareholding in the Company shall be as set out in the following table:

 

	Shareholder with industrial and commercial registration	Industrial and commercial shareholding 	Actual shareholder	Shareholding entrusted
	Xiaoliang Chen	34.45%	Xiaoliang Chen	31.005%
	Xiaohui Luo	3.445%
	Xi Yang	30.55%	Yiqiang He	27.495%
	Xiaohui Luo 	3.055%
	Hunan Ruixi Financial Leasing Co., Ltd.	35%	Hunan Ruixi Financial Leasing Co., Ltd.	
         

        /

 

		5.	Business Cooperation

 

		5.1	After the completion of the share acquisition set forth in Article 3, Party A agrees to enter into
automobile sale arrangement with the Company in an amount up to RMB40 million (hereinafter, the “total automobile price”)
and other cooperation. To the extent of the above maximum amount, the Company will, as required by its business needs, file a business
application with Party A regarding the automobile sale and other business, and the Parties will separately enter into an Automobile
Sale Contract with respect to each transaction (to be subject to the contract entered into between the Parties).

 

    	 	 	 

     

    

 

		5.2	Payment of amounts under the Automobile Sale Contract: The two Parties agree that, within
one month after the occurrence of each single transaction, namely, within one month after the title to the automobiles is registered
by Party A under the name of the Company, the Company shall pay at least 70% of the total contract price, otherwise a monthly interest
at a rate of 1.5% shall accrue, which shall be payable to Party A within one month; the remaining automobile purchase price (not
exceeding 30% of the total contract price) shall be payable to Party A within 36 months in 36 monthly installments at a monthly
interest rate of 0.59% of the amount overdue, and if Company fails to pay so on a monthly basis, then Party A is entitled to charge
1% of the total amount overdue (including the interest) as a late penalty.

 

		5.3	Each party agrees that, where the Original Shareholders are in violation of any obligations hereunder
or under any other related agreements, and the default fails to be cured within a reasonable period of time after a written notice
served on the Original Shareholders by Party A, Party A is entitled to take such actions as ceasing the automobile purchase and
sale business, terminating the related agreement, changing the types of transaction, without incurring any liability for breach
of contract or liability for damages.

 

		6.	Conditions Precedent

 

		6.1	The conditions to the obligation of Party A to conduct the automobile purchase and sale transaction
set forth in Article 5 shall be:

 

		(1)	All Parties hereto shall have duly entered into this Agreement;

 

		(2)	The Company shall have completed a due diligence to the satisfaction of Party A, including but
not limited to financial and legal due diligence;

 

		(3)	Provision of other certificates, authorizations or other documents related to or required for the
validity and enforceability of this Agreement as requested by Party A, including but not limited to the shareholder resolutions
adopted by the Company;

 

		(4)	The senior management and the Original Shareholders of the Company shall have entered into a labor
contract, a non-compete agreement and a confidentiality agreement to the satisfaction of Party A in the substance and form required
by Party A;

 

		(5)	Party A shall have assigned executive directors and financial personnel to the Company;

 

		(6)	The Company shall have conducted the rectification as required by Party A, including but not limited
to effecting changes to the business operation mode, senior management and financial personnel;

 

		(7)	The Company shall be able to conduct normal business and not affected by the previous license revocation;

 

		(8)	Party A shall have completed the Share Acquisition as set forth in Article 3, and the Company shall
have completed the change of industrial and commercial registration, and Party A shall have become a shareholder of the Company.

 

		7.	Performance Guarantee and Equity Compensation

 

		7.1	The Original Shareholders shall be responsible for the business operation and staffing of the Company
and Party A within the boundary of Hunan Province. The Original Shareholders warrant that, within 9 months after Party A has offered
cooperation regarding the automobile purchase and sale transactions for the first time (the “performance review period”),
the Company shall achieve the following performance indices that meet the requirements of Party A:

 

    	 	 	 

     

    

 

		(1)	The Company and Party A shall obtain a total amount for automobile financing in Hunan Province
of RMB200 million (pre-tax) in the aggregate; of which, Party A’s automobile transactions in Hunan Province shall achieve
an amount (pre-tax) of not less than RMB40 million.

 

		(2)	The transactions of the Company and Party A in Hunan Province shall achieve a revenue of RMB20
million in the aggregate, and achieve a net profit no less than RMB10 million; of which, Party A’s transactions in
Hunan Province shall achieve a revenue no less than RMB4 million, and achieve a net profit of not less than RMB2 million.

 

		(3)	The business transactions in Hunan Province shall be carried out after Party A is enlisted by the
Bank of Changsha, obtains the credit line granted by the Bank of Changsha and commences its normal business. If Party A fails to
obtain the credit line granted by the Bank of Changsha, the part of transactions to be conducted in Hunan as mentioned above is
not required to be fulfilled in Hunan.

 

		7.2	If the Company and Party A fail to fulfill the performance guarantee under Article 7.1, Party A
shall pay the Original Shareholders 35% of the shares in the Company as an equity indemnification in proportion to the shares actually
transferred by them (with the payment terms to be determined by the Original Shareholders upon negotiation). The equity indemnification
shall be equal to the product of (1) the audited net profit of the Company at the end of the performance review period and (2)
the shareholding percentage (“Equity Compensation Amount”). If the business guarantee under Article 7.1 fails to be
fulfilled during the performance review period, Party A is not required to pay any Equity Compensation Amount.

 

		7.3	If Party A fails to fulfillment its obligation to provide the automobile financial lease service
of a total amount of RMB40 million to the Company during the performance review period (here “fails” shall only refer
to the situation where the automobile financial lease transactions proposed by the Company meeting the applicable requirements
have achieved an amount of RMB40 million but Party A fails to meet the fund requirements), then irrespective of whether or not
the Company and Party A have fulfilled the performance guarantee under Article 7.1, Party A shall pay the actual controllers and
the Original Shareholders the Equity Compensation Amount equal to the product of the audited net profit of the Company at the end
of the performance review period and the shareholding percentage.

 

		7.4	The above revenue, expenditure mentioned above shall be subject to those set forth in the financial
statements acceptable to each Party.

 

		7.5	Each Party shall be responsible for the payment of its own taxes regarding the payment of Equity
Compensation Amount. If any tax is required to be deducted or withheld by Party A, Party A is entitled to directly deduct the same
from the Equity Compensation Amount.

 

		8.	Corporate Governance

 

		8.1	The Company shall have full-time financial personnel, and establish a fund management system. Party
A is entitled to assign full-time financial personnel to the Company to supervise the finance of the Company. The Company shall:

 

		(1)	Within sixty (60) days after the end of each financial year, provide each Shareholder with audited
annual financial statements for the previous accounting year;

 

		(2)	Within ten (10) days after the end of each quarter, provide each Shareholder with financial statements
for such quarter.

 

		8.2	The Original Shareholders hereby agree that, as of the execution date of this Agreement and two
years after they cease to be the shareholders of the Company, except with the prior written consent of Party A, they shall not
directly or indirectly engage in any commercial activity that is similar to the operation of the Company, nor shall solicit and
offer any employment/position of another company to any employee of the Company.

 

    	 	 	 

     

    

 

		8.3	Each Party agrees that, the Company shall distribute profits to the Shareholders once a year in
proportion to the shareholding of each Shareholder.

 

		8.4	After Party A becomes the shareholder of the Company, the Company shall have an executive director,
and Party A may appoint a person to the Company as an executive director.

 

		8.5	After Party A becomes a shareholder of the Company, it shall have the veto power on the following
issues:

 

		(1)	To increase or decrease the registered capital of the Company;

 

		(2)	Dissolution, liquidation, combination, division of the Company;

 

		(3)	Disposition of major assets of the Company of an value greater than RMB1 million;

 

		(4)	Establishment of any subsidiary, joint venture, partnership or conduct of external equity investment;

 

		(5)	Establishment of any stock and option plan that may affect the shareholding of Party A;

 

		(6)	Approval of profit distribution plan;

 

		(7)	Any major change to the scope of the main business;

 

		(8)	Any amendment to the articles of association of the Company that has an adverse effect on the shareholder
interests of Party A;

 

		(9)	Provision of any security for obligations of the Company or a third party.

 

		9.	Acquisition of Remaining Shares of the Company

 

		9.1	Party A is entitled, during the [12] months after the expiry of the performance review period (“Exclusive
Period”), to negotiate with the Original Shareholders on whether to transfer the remaining 65% shares of the Company, and
Party A has the right of first refusal to purchase the transferred shares, all other things being equal.

 

		9.2	During the above Exclusive Period, if the Original Shareholders determine to transfer the shares
to a third party, or conduct negotiation with any prospective third party regarding the purchase of shares, or in response to the
request by Party A to enter into a formal agreement regarding the transfer but the Original Shareholders unreasonably refuse to
do so, then the Original Shareholders shall be liable to indemnify Party A for the losses incurred as a result thereof.

 

		9.3	Party A hereby agrees that, if it fails to prepare itself for or fails to complete such transaction,
it will notify the Original Shareholders.

 

		10.	Pre-emptive Right and Anti-Dilution Measures

 

		10.1	Pre-emptive right: the Original Shareholders further undertake that, if the Company increases its
capital or issues any share of any class to any person, it will procure the Company to first offer to Party A prior to others,
which shall entitle Party A to purchase such shares on the same issue terms and for the same consideration as those proposed to
be offered by the Company to the subscribers, so that the shareholding by Party A will be rendered equal to that prior to the capital
increase or share issuance; and if any agreement or arrangement renders any final investment cost by any new investor lower than
the compensation paid by Party A to the Original Shareholders, Party A shall make the share adjustment in the following formula
of weighted average ratchet:

 

    	 	 	 

     

    

 

The formula of weighted average
ratchet:

 

A = B × (C + D) / (C + E)

 

Of which,

 

A = new and adjusted unit price
after the investor receives the compensation;

 

B = previous unit price at which
the investor receives the shares of the Company;

 

C = registered capital of the Company
prior to the further capital increase;

 

D = registered capital attributable
to the further capital increase at the price of B;

 

E = actually increased registered
capital of the Company as a result of the capital increase

 

In order to
make up for the difference regarding the shareholding of Party A before and after the weighted average ratchet adjustment, Party
A may request the Original Shareholders to transfer all or part of their shares or equity to Party A free of charge, so as to render
the total shares held by Party A after the share transfer equal to the actual total investment by Party A/A.

 

		11.	Priority of Claims in Liquidation and Priority to Receive Dividends

 

		11.1	Subject to applicable Chinese laws and regulations and other rules, in the case of any liquidation,
dissolution or closure of the Company, Party A may have the right to receive liquidated assets prior to other shareholders of the
Company.

 

		11.2	Party A is entitled to receive share dividends prior to other shareholders of the Company.

 

		12.	Redemption

 

		12.1	In the case of any of the following, Party A is entitled to request the Company or the Original
Shareholders to redeem all shares held by Party A in the Company:

 

		(1)	Any defects exists in the acquired equity or this equity acquisition fails to be completed due
to the Original Shareholders or any company controlled by the Original Shareholders;

 

		(2)	The Original Shareholders or the Company fails to achieve the performance requirements provided
herein;

 

		(3)	The Company fails to conduct its business in a normal manner due to license revocation;

 

		(4)	The Company’s business is alleged to violate any law or regulation;

 

		(5)	The Company fails to renew the cooperation agreement with Didi Chuxing Technology Co., Ltd.;

 

		(6)	Other events that prevent the investment purpose of Party A from being achieved.

 

In the case of any event set
forth in this Article 12.1, Party A may request the Original Shareholders or the Company to purchase all or part of the shares
held by Party A in the Company at a redemption price that is equal to the product of current after-tax net profit of the Company
and the shareholding percentage; if Party A suffers any loss as a result thereof, Party A may hold the Original Shareholders and
the Company liable to indemnify for the losses, including but not limited to the capital cost loss (at a bank loan interest rate
for the same period of time), attorney’s fee, litigation fee, insurance preservation cost, investigation cost incurred in
the recovery.

 

    	 	 	 

     

    

 

		13.	Confidentiality

 

		13.1	During the term of this Agreement, each Party shall:

 

		(1)	Strictly keep in confidence the confidential information and not use the same for any purpose other
than the performance of this Agreement;

 

		(2)	The validity of this confidentiality clause shall bind employees, directors, shareholders, consultants,
agents or other representatives and other entities and individuals bound by this Agreement. The relevant party shall be liable
for breach of contract for the violation of such entities or individuals.

 

		13.2	Article 13.1 above does not apply to the following information:

 

		(1)	Information that the recipient has known prior to the disclosure by any other party, as proved
in written records;

 

		(2)	Information that is or becomes publicly available without any breach of the recipient of this Agreement;

 

		(3)	Information to be disclosed as required by applicable Chinese laws, any securities regulatory authority
or stock exchange or the market; in such case, the recipient shall only disclose the confidential information required to be disclosed
to the relevant authority to the reasonable extent required;

 

		(4)	Information independently developed by the recipient without reference to any confidential information
hereunder.

 

		13.3	Each party shall be liable for the damage as a result of its breach of this Article.

 

		14.	Force Majeure Event

 

In the case of occurrence of
any force majeure event, which prevents any Party from the performance of its obligations hereunder, then the performance of such
obligations shall be suspended during the duration of the delay caused by such force majeure event, and the period for the performance
shall be automatically extended for a period equal to the duration of the suspension, without incurring any liability on such Party.
The party claiming a force majeure event shall promptly give a written notice to other Parties, with appropriate and reasonable
proof evidencing the existence of the event, and verified or notarized, where appropriate. The party claiming the existence of
the force majeure event shall also exert all reasonable efforts to avoid and mitigate the impact of the force majeure event.

 

		15.	Event of Default

 

		15.1	If any Party defaults in any of its obligations, warranties or undertakings hereunder, which results
in non-performance of this Agreement or renders the performance of this Agreement impossible, the defaulting party shall be liable
to indemnify other parties for the losses incurred as a result thereof, including reasonable attorney’s fees. If all Parties
are in default, each Party shall be liable for breach of contract respectively.

 

		15.2	If any dispute arises as a result of the failure by the Company to adjust its business mode and
supplement normative documents necessary in the previous business as required by Party A, the Company and the Original Shareholders
shall bear unlimited joint and several liability for the same, and Party A may also recover the losses, if any, suffered by Party
A as a result thereof from the Company and the Original Shareholders.

 

    	 	 	 

     

    

 

		16.	Taxes and Charges

 

Each Party shall be responsible
for the payment of its own taxes and charges regarding the formation, performance of this Agreement and dispute resolution hereunder
pursuant to the applicable state regulations.

 

		17.	Dispute Resolution

 

Any dispute
arising under this Agreement, including that regarding the existence, validity or termination of this Agreement (the “Dispute”),
shall be first resolved among the Parties through amicable negotiation, and any party may at any time issue a written notice to
request other parties for negotiation, and state the nature of the dispute. If the Dispute fails to be resolved within forty five
days after one Party give the written notice under this Article, then either Party may bring a lawsuit at the people’s court
at the place of Party A.

 

		18.	Governing Law

 

The formation, taking effect,
validity, interpretation and performance of this Agreement and all issues related hereto shall be governed by the law of the People’s
Republic of China.

 

		19.	Others

 

		19.1	This Agreement shall be executed in several counterparts, with each copy to be an original, each
of which shall be deemed an original and all of which shall constitute one and the same Agreement and have the same force and effect.

 

		19.2	All notices required or permitted to be sent under this Agreement shall be sent to the recipient(s)
according to the following addresses via personal delivery or a special courier internationally recognized, or according to the
following E-mail addresses:

 

The Company: Sichuan Jinkailong
Automobile Leasing Co., Ltd.

 

Address: Floor 2, Building 1, No.
2 Liudao Street, Jinma Town, Wenjiang District, Chengdu City

 

E-mail address: 1061896893@qq.com

 

Recipient: Wen Xiang

 

 

Party A: Hunan Ruixi Financial
Leasing Co., Ltd.

 

Address: Room 910, Building 1, Huitong
Building, No. 168 Hehua Road, Hehuayuan Street, Furong District, Changsha City, Hunan Province

 

E-mail address: 77128824@qq.com

 

Recipient: Huang Liang

 

 

Party B: Xiaoliang Chen

 

Address: No. 135, Xichan Village,
Renchuan Town, Pan’an County, Zhejiang Province

 

E-mail address: 653802636@qq.com

 

Recipient: Xiaoliang Chen

 

    	 	 	 

     

    

 

Party C: Xi Yang

 

Address: No. 31, Group 13, Fangbei
Village, Nanquan Town, Shifang City, Sichuan Province

 

E-mail address: 326128816@qq.com

 

Recipient: Xi Yang

 

 

Party D: Yiqiang He

 

Address: No. 31, Group 13, Fangbei
Village, Nanquan Town, Shifang City, Sichuan Province

 

E-mail address: 254838145@qq.com

 

Recipient: Yiqiang He

 

 

Party E: Xiaohui Luo

 

Address: No. 2, Group 4, Qilidian
Village, Baoshi Town, Anju District, Suining City, Sichuan Province

 

E-mail address: 408042965@qq.com

 

Recipient: Xiaohui Luo

 

All notices shall be deemed properly
delivered once received. Each Party may change its address (or fax number) for receiving notices by giving a notice in the manner
set forth herein.

 

		19.3	This Agreement shall not be altered or annulled without the written consent of all Parties.

 

		19.4	This Agreement is written in Chinese.

 

[No text below]

 

    	 	 	 

     

    

 

IN WITNESS WHEREOF, each Party hereto has caused this Agreement
to be executed on the date first above written.

 

 

The Company: Sichuan Jinkailong Automobile Leasing Co., Ltd.

 

Legal representative: /s/ Xiaoliang Chen

 

 

 

Party A: Hunan Ruixi Financial Leasing Co., Ltd. (seal)

 

Legal representative: /s/ Xianglong Li

 

 

 

Party B: Xiaoliang Chen

 

Signature: /s/ Xiaoliang Chen

 

 

 

Party C: Xi Yang

 

Signature: /s/ Xi Yang

 

 

 

Party D: Yiqiang He

 

Signature: /s/ Yiqiang He

 

 

 

Party E: Xiaohui Luo 

 

Signature: /s/ Xiaohui Luo

 

 

 

Appendix:

 

Photocopies of lawful and valid identity cards of each Party,
or in the case of an entity, a photocopy of the duplicate copy of the business license affixed with the common seal.

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