Document:

Exhibit 10.6

 

股东表决权委托协议

 

Amended Voting Rights Proxy and Financial Supporting
Agreement

 

本股东表决权委托协议修正版(以下称“本协议”)于2022年2月11日由以下各方在咸宁签订:

 

This Amended Voting Rights Proxy and Financial
Supporting Agreement (the “Agreement”) is made in Xianning, China on February 11, 2022 among the following parties:

 

甲方:蔡晓东

Party A:
Xiaodong Cai

 

甲方下称“委托人”

Parties A
is thereinafter referred as “Entrusting Party.”

 

乙方:佳益科技(咸宁)有限公司(“受托人”)

地址:湖北省咸宁市黄畈村一组金色海湾2幢3层

Party B:Jiayi
Technologies (Xianning) Co., Ltd. (“Designee”)

Address:3/F, Building 2, Golden Bay, Group
1, Huangfan Village, Xianning City, Hubei Province 

 

丙方: 安徽安盛石化设备有限公司

 

地址:
 安徽省宣城市郎溪县经济开发区

 

Party C:
Anhui Ansheng Petrochemical Equipment Co., Ltd.

 

Address: Langxi Economic Development Zone, Xuancheng
City, Anhui Province, China

 

 

(在本协议中,以上各方分别称为“一方”,合称为“各方”。)

(In this Agreement, each of Party A, Party B and
Party C shall be referred to as a "Party" respectively, and they shall be collectively referred to as the "Parties".)

鉴于:

 

Whereas:

 

1. 委托方是丙方的股东,登记为持有丙方86.58%的股权的股东;

 

The Entrusting Party, the shareholders
of Party C, collectively own 86.58% of the equity interest in Party C in record.

 

2. 委托方有意分别不可撤销地委托乙方或乙方指定的个人行使其在丙方中享有86.58%股权的表决权,乙方有意接受该等委托。

 

The Entrusting Party is willing to unconditionally
entrust Party B or Party B’s designee to vote on his or her behalf at the shareholders’ meeting of Party C respect the 86.58%
voting right owned by Party B, and Party B is willing to accept such proxy on behalf of Entrusting Party.

 

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各方经友好协商,兹一致协议如下:

 

Therefore, the Parties hereby agree as follows:

 

第一条 表决权委托

 

Proxy of Voting
Rights

 

1.1 委托方兹不可撤消地承诺,其在本协议签订后将签署内容和格式如本协议附件一的授权委托书(“授权委托书”),分别授权乙方或乙方届时指定的人士(以下称“受托人”)代表其行使委托方作为丙方的股东,依据丙方届时有效的章程所分别享有的权利,包括但不限于(以下统称“委托权利”):

 

Entrusting Party hereby irrevocably covenants
that, he/she shall execute the Power of Attorney (“POA”) set forth in Exhibit A upon signing this Agreement and entrust Party
B or Party B’s designee (“Designee”) to exercise all his or her rights as the shareholders of Party C under the Articles
of Association of Party C, including without limitation to:

 

(1) 作为委托方的代理人,根据丙方的章程提议召开和出席丙方的股东会会议;

 

propose to hold a shareholders' meeting
in accordance with the Articles of Association of Party C and attend shareholders' meetings of Party C as the agent and attorney of Entrusting
Party;

 

(2) 代表委托方对所有需要股东会讨论、决议的事项行使表决权,包括但不限于指定和选举丙方的董事、总经理及其他应由股东任免的高级管理人员;

 

exercise all shareholder's voting rights
with respect to all matters to be discussed and voted in the shareholders’ meeting of Party C, including but not limited to designate
and appoint the director, the chief executive officer and other senior management members of Party C;

 

(3) 不时修订的中国法律法规规定的股东所应享有的其他表决权;以及

 

exercise other voting rights the shareholders
are entitled to under the laws of China promulgated from time to time; and

 

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(4) 不时修订的丙方章程项下的其他股东表决权。

 

exercise other voting rights the shareholders
are entitled to under the Articles of Association of Party C amended from time to time;

 

乙方特此同意接受第1.1条所述该等委托。当收到乙方向委托方发出的更换受托人的书面通知,委托方应立即指定乙方届时指定的其他人行使第1.1条的委托权利;除此外,委托方不得撤销向受托人做出的委托和授权。

 

Party B hereby agrees to accept such
proxy as set forth in Clause 1.1. Upon receipt of the written notice of change of Designee from Party B, the Entrusting Party shall immediately
entrust such person to exercise the rights set forth in Clause 1.1. Except the aforesaid situation, the proxy shall be irrevocable and
continuously valid.

  

1.2 对受托人行使上述委托权利所产生的任何法律后果,委托方均予以认可并承担相应责任。

 

The Entrusting Party hereby acknowledges
and ratify all the actions associated with the proxy conducted by the Designee.

 

1.3 委托方兹确认,受托人在行使上述委托权利时,无需事先征求委托方的意见。

 

The Parties hereby confirm that, Designee
is entitled to exercise all proxy rights without the consent of Entrusting Party.

 

第二条 知情权

 

Rights to
Information

 

2.1 为行使本协议下委托权利之目的,受托人有权要求丙方提供相关信息,查阅丙方相关资料,丙方应对此予以充分配合。

 

For the purpose of this Agreement,
the Designee is entitled to request relevant information of Party C and inspect the materials of Party C. Party C shall provide appropriate
assistance to the Designee for his/her work.

 

2.2 发生本协议项下的委托事项时,委托方及丙方应及时通知乙方。

 

The Entrusting Party and Party C shall
immediately inform Party B once the proxy matter happens.

 

第三条 委托权利的行使

 

Performance
of Proxy Rights

 

3.1 委托方将就受托人行使委托权利提供充分的协助,包括在必要时及时签署及执行受托人已作出的股东会决议或其他相关的法律文件。

 

The Entrusting Party shall provide
appropriate assistance to the Designee for the performance of proxy rights provided in this Agreement, including signing and executing
the shareholders’ resolution and other relevant legal documents (if applicable) which have been confirmed by the Designee.

 

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3.2 如果本协议有任何一条或多条规定根据任何法律或法规在任何方面被裁定为无效、不合法或不可执行,本协议其余规定的有效性、合法性或可执行性不应因此在任何方面受到影响或损害。双方应通过诚意磋商,争取以法律许可以及双方期望的最大限度内有效的规定取代那些无效、不合法或不可执行的规定,而该等有效的规定所产生的经济效果应尽可能与那些无效、不合法或不能强制执行的规定所产生的经济效果相似。

 

In the event that one or several of
the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations,
the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect.
The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish
to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall
be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

  

第四条 财务支持

 

Financial
Supporting

 

考虑到委托方授予的上述投票权,受托人同意安排向丙方提供有关于其业务的必要的资金(“财务支持”)。受托人同意如果因正常商业运作失败而丙方不能偿还其财务支持,丙方将无返还义务。

 

In consideration of the foregoing grant
of voting rights by the Entrusting Party, Party B agrees to arrange for funds to be provided as necessary to Party C in connection with
the business (the “Financial Support”). Party B further agrees that should the business fails in the ordinary course of business,
and as a result Party C is unable to repay the Financial Support, the Party C shall have no repayment obligation.

 

第五条 声明与保证

 

Representations
and Warranties

 

5.1 委托方兹分别地声明与保证如下:

 

The Entrusting Party hereby represents
and warrants to Party B as follows:

 

5.1.1 其拥有签订和履行本协议及授权委托书项下义务的完全权力和授权。本协议构成对其的合法的、具有约束力的义务,并可根据本协议条款对其强制执行。

 

The Entrusting Party has full power
and legal right to enter into this Agreement and perform his or her obligations under this Agreement and in executing the POA; This Agreement
and the POA constitute legal, valid, binding and enforceable obligation of each Entrusting Party.

 

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5.1.2 其已获得适当的授权签署、交付并履行本协议,对本协议的签署和履行并不违反丙方公司文件的任何规定。

 

Each Entrusting Party has necessary
authorization for the execution and delivery of this Agreement, and the execution, delivery and performance of this Agreement will not
conflict with or violate any and all constitutional documents of Party C.

 

5.1.3 其是丙方的在册的合法股东,除本协议及委托方、乙方与丙方签订的《股权质押协议》及《股权处分合同》所设定的权利外,委托权利上不存在任何第三方权利或限制。根据本协议,受托人可以根据丙方届时有效的章程完全、充分地行使委托权利。

 

Each Entrusting Party is the lawfully
registered and beneficial owner of the shares of Party C, and none of the shares held by the Entrusting Party is subject to any encumbrance
or other restrictions, except as otherwise provided under the Equity Pledge Agreement and Equity Option Agreement entered into by and
between Party B, Party C and the Entrusting Party. According to this Agreement, the Designee has full power and legal rights to exercise
the proxy rights according to the Articles of Association of Party C.

 

5.2丙方兹声明与保证如下:

 

Party C hereby represents and warrants
as follows:

 

5.2.1 其是根据其注册地法律适当注册并合法存续的有限责任公司,具有独立法人资格;具有完全、独立的法律地位和法律能力签署、交付并履行本协议,可以独立地作为一方诉讼主体。

 

Party C is a company legally registered
and validly existing in accordance with the laws of China and has independent legal person status, and has full and independent civil
and legal capacity to execute, deliver and perform this Agreement. It can sue and be sued as a separate entity;

 

5.2.2 其已采取必要的公司行为,获得必要的授权,并取得第三方和政府部门的同意及批准(若需)以签署和履行本协议;其对本协议的签署和履行并不违反法律法规的明确规定。

 

Party C has taken all necessary corporate
actions, obtained all necessary authorization and the consent and approval from third parties and government agencies (if any) for the
execution and performance of this Agreement. Party C’s execution and performance of this Agreement do not violate any explicit requirements
under any law or regulation binding on Party C.

 

5.2.3 委托方是丙方的在册的合法股东。除本协议及委托方、乙方与丙方签订的《股权质押协议》及《股权处分合同》所设定的权利外,委托权利上不存在任何第三方权利。根据本协议,受托人可以根据丙方届时有效的章程完全、充分地行使委托权利。

 

Each Entrusting Party is the lawfully
registered and beneficial owner of the shares of Party C, and none of the shares held by the Entrusting Party is subject to any encumbrance
or other restrictions, except as otherwise provided under the Equity Pledge Agreement and Equity Option Agreement entered into by and
between Party B, Party C and the Entrusting Party. According to this Agreement, the Designee has full power and legal rights to exercise
the proxy rights according to the Articles of Association of Party C.

 

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第六条 协议期限

 

Term of this Agreement

 

6.1 本协议自各方正式签署之日起生效,有效期三十
(30)年;双方同意,在本协议期满前,乙方有权以书面通知的方式延长本协议的期限,其他方必须无条件地同意该延期。

 

This Agreement shall become effective
upon the date hereof with a term of thirty (30) years. The Parties agree that, this Agreement can be extended only if Party B gives its
written consent of the extension of this Agreement before the expiration of this Agreement and the other Parties shall agree with this
extension without reserve.

  

6.2 如委托方经乙方的事先同意转让了其持有的全部丙方的股权,委托方在本协议下的义务与承诺将由受让方承担。

 

If the Entrusting Party has transferred
all his or her equity interests in Party C subject to the prior consent of Party B, the obligations and warranties under this Agreement
of the Entrusting Party shall be undertaken by the assignee.

 

第七条 通知

 

		Notices	

 

7.1 本协议要求的或根据本协议作出的任何通知、请求、要求和其他通信往来应以书面形式送达有关方。

 

All notices and other communications
required or permitted to be given pursuant to this Agreement shall be delivered in written.

 

7.2 上述通知如果是以专人递送、快递服务或挂号邮寄、邮资预付发出的,则以于设定为通知的地址在签收或拒收之日为有效送达日。如果是以传真发出的,则以成功传送之日为有效送达日(应以自动生成的传送确认信息为证)。

 

Notices given by personal delivery,
by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of acceptance or refusal at the
address specified for notices. Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission
(as evidenced by an automatically generated confirmation of transmission).

 

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第八条 保密义务

 

Confidentiality 

 

各方承认及确定有关本合同、本合同内容,以及彼此就准备或履行本合同而交换的任何口头或书面资料均被视为保密信息。各方应当对所有该等保密信息予以保密,而在未得到另一方书面同意前,不得向任何第三者披露任何保密信息,惟下列信息除外:(a)公众人士知悉或将会知悉的任何信息(惟并非由接受保密信息之一方擅自向公众披露);(b)根据适用法律法规、股票交易规则、或政府部门或法院的命令而所需披露之任何信息;或(c)由任何一方就本合同所述交易而需向其股东、投资者、法律或财务顾问披露之信息,而该股东、法律或财务顾问亦需遵守与本条款相类似之保密责任。如任何一方工作人员或聘请机构的泄密均视为该方的泄密,需依本合同承担违约责任。无论本合同以任何理由终止,本条款仍然生效。

 

The Parties acknowledge that the existence and the terms of this Agreement
and any oral or written information exchanged between the Parties in connection with the preparation and performance this Agreement are
regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining
the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the
information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b)
is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the
court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, investors, legal counsels
or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or
financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure of any confidential
information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by such Party,
which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement for any reason.

 

第九条 违约责任

 

Liability for Breach of Agreement

 

9.1 各方同意并确认,如任一方(“违约方”)违反本协议项下所作的任何一项约定,或未履行或迟延履行本协议项下的任何一项义务,即构成本协议项下的违约(“违约”),其他未违约方(“守约方”)的任一方有权要求违约方在合理期限内补正或采取补救措施。如违约方在合理期限内或在另一方书面通知违约方并提出补正要求后十(10)天内仍未补正或采取补救措施的,则

 

The Parties agree and confirm that,
if either Party is in breach of any provisions herein or fails to perform its obligations hereunder, such breach or failure shall constitute
a default under this Agreement, which shall entitle the non-defaulting Party to request the defaulting Party to rectify or remedy such
default with a reasonable period of time. If the defaulting Party fails to rectify or remedy such default within the reasonable period
of time or within 10 days of non-defaulting Party’s written notice requesting for such rectification or remedy, then the non-defaulting
Party shall be entitled to elect the following remedial actions:

 

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9.1.1 若任何委托方或丙方为违约方,乙方有权终止本协议并要求违约方给予损害赔偿;

 

If the defaulting Party is any Entrusting
Party or Party C, then Party B has the right to terminate this Agreement and request the defaulting Party to fully compensate its losses
and damages;

 

9.1.2 若乙方为违约方,守约方有权要求违约方给予损害赔偿,但除非法律另有规定,否则其在任何情况均无任何权利终止或解除本协议。

 

If the defaulting Party is Party B,
then the non-defaulting Party has the right to request the defaulting Party to fully compensate its losses and damages, but in no circumstance
shall the non-defaulting Party early terminate this Agreement unless the applicable law provides otherwise.

 

9.2 尽管有本协议其它规定,本条规定的效力不受本协议中止或者终止的影响。

 

Notwithstanding otherwise provided
under this Agreement, the validity of this Section shall not be affect by the suspension or termination of this Agreement.

 

第十条 其他事项

 

Miscellaneous

 

10.1 本协议采用中文、英文两种文本,中文文本与英文文本具有同等法律效力,中文文本与英文文本不一致的,以中文文本为准。正本一式叁(3)份,本协议之各方当事人各执壹(1)份。

 

This Agreement shall be signed in Chinese
and English language bearing the same legal effect. In the event of any inconsistency between the Chinese and English language, the Chinese
version of this Agreement shall prevail. This Agreement shall have three counterparts, with each party holding one original. All counterparts
shall be given the same legal effect.

 

10.2 本协议的订立、生效、履行、修改、解释和终止均适用中华人民共和国法律。

 

The execution, effectiveness, interpretation,
performance, amendment, termination and dispute resolution shall be governed by the law of the People’s Republic of China.

 

10.3 一切因执行本协议或与本协议有关的争执,应由各方通过友好方式协商解决。如经协商不能得到解决时,应提交位于深圳的中国国际经济贸易仲裁委员会华南分会,根据提交仲裁时中国国际经济贸易仲裁委员会的仲裁规则进行仲裁,仲裁地点在深圳。仲裁裁决是终局性的,对各方均由约束力。

 

In the event of any dispute with respect
to this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an
agreement on the dispute, either Party may submit the relevant dispute to the Southern Commission of China International Economic and
Trade Arbitration Commission for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted in Shenzhen.
The arbitration award shall be final and binding on all Parties.

 

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10.4 本合同规定的权利和救济是累积的,并不排斥法律规定的其他权利或者救济。

 

The rights and remedies provided for
in this Agreement shall be accumulative and shall not affect any other rights and remedies stipulated at law.

 

10.5 任何一方可以对本合同的条款和条件作出弃权,但必须经书面作出并经各方签字。一方在某种情况下就其他方的违约所作的弃权不应被视为该方在其他情况下就类似的违约已经对其他方作出弃权。

 

Any Party may waive the terms and conditions
of this Agreement, provided that such a waiver must be provided in writing and shall require the signatures of the Parties. No waiver
by any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect
to any similar breach in other circumstances.

 

10.6 本协议各条的标题仅为索引而设,在任何情况下,该等标题不得用于或影响对本协议条文的解释。

 

The headings of this Agreement are
for convenience only, and shall not be used to interpret, explain or otherwise affect the meanings of the provisions of this Agreement.

 

10.7 本协议的任何修改、补充必须以书面形式进行,并由本协议各方适当签署后方能生效。

 

Any amendment, change and supplement
to this Agreement shall require the execution of a written agreement by all of the Parties.

 

10.8 未经乙方的事先书面同意,其他方均不得向任何第三方转让其于本协议下的任何权利及/或义务;委托方、丙方在此同意,乙方有权在书面通知委托方及丙方后,将其在本协议下的任何权利及/或义务转让给任何第三方。

 

Without Party B's prior written consent,
other Parties shall not assign its rights and obligations under this Agreement to any third party. Entrusting Party and Party C agrees
that Party B may assign its obligations and rights under this Agreement to any third party upon a prior written notice to Entrusting Party
and Party C.

 

10.9 本协议对各方的合法继受人均具有约束力。

This Agreement shall be binding on
the legal successors of each Party.

 

本页其余部分刻意留为空白 

The Remainder of this page is intentionally
left blank

 

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有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本股东表决权委托协议并即生效,以昭信守。

 

IN WITNESS WHEREOF, the Parties
have caused their authorized representatives to execute this Voting Rights Proxy and Financial Supporting Agreement as of the date first
above written.

  

甲方:

Party A:

 

	By:	/s/ Xiaodong Cai	 
	姓名:	蔡晓东	 
	 	 
	乙方:	佳益科技(咸宁)有限公司	 
	Party B: 	Jiayi Technology (Xianning) Co., Ltd.	 
	     	 
	签字:    	 
	By:	Bin Zhou  	 
	姓名:	周彬  	 
	Name:	Bin Zhou 	 
	职务:	 法定代表人  	 
	Title:	Legal Representative  	 
	 	 
	丙方: 	安徽安盛石化设备有限公司	 
	 	 
	Party B:	Anhui Ansheng Petrochemical Equipment Co., Ltd.
	 	 
	签字:    	 
	By:	/s/ Zhiyong Liang	 
	姓名:	 梁志勇	 
	Name:	Zhiyong Liang	 
	职务:	CEO  	 
	Title:	CEO	 

  

    10
Voting Rights Proxy and Financial Supporting Agreement

     

    

 

附件一

 

Exhibit A

授权委托书

Power of Attorney

 

本人,蔡晓东,中国公民,身份证号码为510102197011146612,系拥有安徽安盛石化设备有限公司86.58%的股权(“本人股权”)的股东,就本人86.58%的股权,特此不可撤销地授权佳益科技(咸宁)有限公司 (“受托人”)
在本授权委托书的有效期内行使如下权利:

I, Xiaodong Cai, a Chinese
citizen with Chinese Identification Card No.: 510102197011146612 and a holder of 86.58% of the entire registered capital in Anhui Ansheng
Petrochemical Equipment Co., Ltd. ("My Shareholding"), hereby irrevocably authorize Jiayi Technologies (Xianning) Co., Ltd.
(“Designee”) to exercise the following rights relating to 86.58% equity of My Shareholding during the term of this Power of
Attorney:

 

授权受托人作为本人唯一的排他的代理人就有关本人股权的事宜全权代表本人行使包括但不限于如下的权利:1)参加安徽安盛石化设备有限公司的股东会;2)行使按照法律和安徽安盛石化设备有限公司章程规定本人所享有的86.58%股权部分的股东权和股东表决权,包括但不限于出售或转让或质押或处置本人股权的全部或任何一部分;以及3)作为本人的授权代表指定和任命安徽安盛石化设备有限公司(董事长)、董事、监事、总经理以及其他高级管理人员等。

The Designee is hereby authorized
to act on behalf of myself as my exclusive agent and attorney with respect to all matters concerning My Shareholding, including without
limitation to: 1) attend shareholders' meetings of Anhui Ansheng Petrochemical Equipment Co., Ltd.; 2) exercise all the shareholder's
rights and shareholder's voting rights I am entitled to regarding 86.58% equity interest under the laws of China and Articles of Association
of Anhui Ansheng Petrochemical Equipment Co., Ltd., including but not limited to the sale or transfer or pledge or disposition of My Shareholding
in part or in whole; and 3) designate and appoint on behalf of myself the legal representative (chairperson), the director, the supervisor,
the chief executive officer and other senior management members of Anhui Ansheng Petrochemical Equipment Co., Ltd.

 

受托人将有权在授权范围内代表本人签署股权处分合同(本人应要求作为合同方)中约定的转让合同,如期履行本人作为合同一方的与本授权委托书同日签署的股权质押合同和股权处分合同,该权利的行使将不对本授权形成任何限制。

Without limiting the generality
of the powers granted hereunder, the Designee shall have the power and authority under this Power of Attorney to execute the Transfer
Contracts stipulated in Share Disposal Agreement, to which I am required to be a party, on behalf of myself, and to effect the terms of
the Equity Pledge Agreement and Equity Option Agreement, both dated the date hereof, to which I am a party.

  

受托人就本人股权的一切行为均视为本人的行为,签署的一切文件均视为本人签署,本人会予以承认。

All the actions associated
with My Shareholding conducted by the Designee shall be deemed as my own actions, and all the documents related to My Shareholding executed
by the Designee shall be deemed to be executed by me. I hereby acknowledge and ratify those actions and/or documents by the Designee.

 

    11
Voting Rights Proxy and Financial Supporting Agreement

     

    

 

除非佳益科技(咸宁)有限公司对本人发出要求更换受托人的指令,在本人为安徽安盛石化设备有限公司的股东期间,本授权委托书不可撤销并持续有效,自授权委托书签署之日起算。

Unless Jiayi Technologies
(Xianning) Co., Ltd. issues an instruction to me to change the Designee, this Power of Attorney is coupled with an interest and shall
be irrevocable and continuously valid from the date of execution of this Power of Attorney, so long as I am a shareholder of Anhui Ansheng
Petrochemical Equipment Co., Ltd.

 

本授权委托书期间,本人特此放弃已经通过本授权委托书授权给受托人的与本人股权有关的所有权利,不再自行行使该等权利。

During the term of this Power
of Attorney, I hereby waive all the rights associated with My Shareholding, which have been authorized to the Designee through this Power
of Attorney, and shall not exercise such rights by myself.

 

本授权委托书以中文和英文书就,中英文版本如有冲突,应以中文版为准。

This Power of Attorney is written
in Chinese and English; in case there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

 

	 	蔡晓东 Xiaodong Cai 
	 	 
	 	签字:
	 	 
	 	By:	 /s/ Xiaodong Cai
	 	2022年2月11日
	 	February 11, 2022

 

 

12

Voting Rights Proxy and
Financial Supporting AgreementExhibit 4.1

THIS UNSECURED
CONVERTIBLE PROMISSORY NOTE AND THE SECURITIES THAT MAY BE ACQUIRED PURSUANT TO THIS UNSECURED CONVERTIBLE PROMISSORY NOTE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES OR “BLUE SKY LAWS,”
AND MAY NOT BE OFFERED FOR SALE, SOLD, ASSIGNED, TRANSFERRED, HYPOTHECATED, OR OTHERWISE DISPOSED OF (COLLECTIVELY, A “TRANSFER”)
UNLESS (I) SUCH SECURITIES HAVE BEEN REGISTERED FOR SALE PURSUANT TO SAID ACT AND SUCH LAWS; OR (II) THE COMPANY HAS RECEIVED AN OPINION
OF COUNSEL REASONABLY SATISFACTORY TO IT THAT SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE ACT AND SUCH LAWS AND
THE RECIPIENT OF SUCH TRANSFER EXECUTES AN AGREEMENT WITH THE COMPANY (IN A FORM REASONABLY SATISFACTORY TO THE COMPANY) OBLIGATING IT
TO ABIDE BY COMPARABLE RESTRICTIONS ON TRANSFER.

NETCAPITAL
INC.

UNSECURED CONVERTIBLE PROMISSORY NOTE

$__________________As
of___________________, 2022 (the “Issuance Date”)

FOR VALUE
RECEIVED, Netcapital Inc., a Utah corporation (“Borrower” or the “Company”) promises
to pay to (“Lender”), or its registered assigns, in lawful money of the United States of America
the principal sum of ______________dollars ($__________.00), or such lesser amount as shall equal the outstanding principal
amount (the “Principal Amount”) of this Unsecured Convertible Promissory Note, which is one of a duly authorized
series of notes of the Company of like tenor and effect (except the variations necessary to express the name of payee, the date, and
the principal amount of each Note), each dated on or after____________, 2022 (each a “Note” and collectively
the “Notes”). Borrower also promises to pay to Lender, or its registered assigns, in lawful money of the United
States of America interest accrued on the unpaid Principal Amount in accordance with Section 2. Unless previously converted into
Conversion Securities in accordance with the terms of Section 6, all Note Obligations (as defined below) shall be due and payable
on the earlier of (i) the Maturity Date (as defined below) of this Note; or (ii) when, upon or after the occurrence of an Event of Default
(as defined below), such amounts are declared due and payable by Lender or made automatically due and payable in accordance with the
terms hereof. Borrower and Lender may be individually referred to herein as a “Party” or collectively as the
“Parties”. On the date hereof, in exchange for the issuance of this Note, the Purchaser shall pay to the Company
the Principal Amount in cash via wire transfer in accordance with the wire instructions attached hereto as Exhibit A.

		1.	Definitions.

		(a)	Preamble
                                            and Recitals: The terms defined above are incorporated herein.

		(b)	Other
                                            Defined Terms: For purposes of this Note, the following terms shall have the following
                                            meanings (with terms defined in the singular having comparable meanings when used in the
                                            plural and vice versa):

    	 

    	 

    

		i)	“Business
                                            Day” means any day other than Saturday, Sunday or a day on which banking institutions
                                            in the City of New York are permitted or obligated by applicable law to remain closed.

		ii)	“Change
                                            of Control” means any of the following: (i) the sale or disposition of all
                                            or substantially all of the assets of Borrower to a third party; (ii) the acquisition by
                                            a third party of more than fifty percent (50%) of Borrower’s outstanding voting capital
                                            stock; or (iii) the merger or consolidation of Borrower with or into another entity unless
                                            the holders of Borrower’s voting capital stock immediately prior to such merger or
                                            consolidation hold at least fifty percent (50%) of the ownership of voting capital stock
                                            of the acquiring third party or the surviving entity in such merger or consolidation, as
                                            the case may be, immediately after the merger or consolidation. Notwithstanding the foregoing,
                                            (x) a Change of Control shall not be deemed to occur on account of a Qualified Equity Financing;
                                            and (y) any transaction or series of transactions principally for bona fide equity financing
                                            purposes shall not be deemed to be a Change of Control of Borrower. Notwithstanding the foregoing,
                                            a Change of Control shall not be deemed to occur upon the merger of the Company with and
                                            into any of its wholly-owned subsidiaries.

		iii)	“Closing
                                            Bid Price” and “Closing Sale Price” means, for any
                                            security as of any date, the last closing bid price and last closing trade price, respectively,
                                            for such security on the Principal Market, as reported by Bloomberg, or, if the Principal
                                            Market begins to operate on an extended hours basis and does not designate the closing bid
                                            price or the closing trade price (as the case may be) then the last bid price or last trade
                                            price, respectively, of such security prior to 4:00:00 p.m., New York time, as reported by
                                            Bloomberg, or, if the Principal Market is not the principal securities exchange or trading
                                            market for such security, the last closing bid price or last trade price, respectively, of
                                            such security on the principal securities exchange or trading market where such security
                                            is listed or traded as reported by Bloomberg, or if the foregoing do not apply, the last
                                            closing bid price or last trade price, respectively, of such security in the over-the-counter
                                            market on the electronic bulletin board for such security as reported by Bloomberg, or, if
                                            no closing bid price or last trade price, respectively, is reported for such security by
                                            Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market
                                            makers for such security as reported in the “pink sheets” by OTC Markets Group
                                            Inc. (formerly Pink Sheets LLC). If the Closing Bid Price or the Closing Sale Price cannot
                                            be calculated for a security on a particular date on any of the foregoing bases, the Closing
                                            Bid Price or the Closing Sale Price (as the case may be) of such security on such date shall
                                            be the fair market value as mutually determined by the Company and the Lender. If the Company
                                            and the Lender are unable to agree upon the fair market value of such security, then such
                                            dispute shall be resolved in accordance with the procedures in Section 11. All such determinations
                                            shall be appropriately adjusted for any stock splits, stock dividends, stock combinations,
recapitalizations or other similar transactions during such period.

    	 

    	 

    

		iv)	“Closing Date”
                                            shall have the meaning set forth in Section 6(a).

		v)	“Common
                                            Stock” means the Company’s common stock, par value $0.0001 per share.

		vi)	“Conversion”
                                            shall have the meaning set forth in Section 6(b).

		vii)	“Conversion
                                            Price” shall mean the lesser of (1) $10.00 and (2) 80% of the price paid per
                                            share (a) for Subsequent Round Securities by the cash investors in the Qualified Equity Financing
                                            (the “Discount Price”), or (b) set forth in the definitive agreement(s)
                                            approved by the Company and the Company’s stockholders in connection with such Change
                                            of Control; provided, however, in the event Subsequent Round Securities are sold at
                                            different prices, the Discount Price shall equal 80% of the weighted average sale price determined
                                            by dividing (x) the gross proceeds raised in the Qualified Equity Financing on or prior to
                                            the date that the Note Obligations are converted into Conversion Securities in accordance
                                            with the terms of Section 6; by (y) the total number of Subsequent Round Securities
                                            sold to raise such gross proceeds and provided further, that if the price is not set
                                            forth in the definitive agreement(s) referred to above, then such price shall be the Closing
                                            Bid Price or Closing Sales Price on the closing date of such transaction.

		viii)	“Conversion
                                            Securities” shall mean the same securities issued in connection with either
                                            a Qualified Equity Financing or a Change of Control; provided, that in the event such securities
                                            are shares of preferred stock, the Conversion Securities shares shall:

		(1)	have a per
                                            share liquidation preference amount equal to the Conversion Price;

		(2)	rank pari
                                            passu with and have the same or substantially similar rights, preferences, privileges
                                            and restrictions as the Subsequent Round Securities;

		(3)	vote as
                                            a class on all matters together with the Subsequent Round Securities; and

		(4)	be convertible
                                            initially into shares of Common Stock at a 1:1 ratio (subject to any anti-dilution adjustments
                                            provided for the holders of the Subsequent Round Securities).

		ix)	“Event
                                            of Default” shall have the meaning set forth in Section 4.

    	 

    	 

    

		x)	“Fractional
                                            Payment Amount” shall have the meaning set forth in Section 6(e).

		xi)	“Maturity
                                            Date” means the date that is the one year anniversary of the Issuance Date.

		xii)	“Maximum
                                            Rate” shall have the meaning set forth in Section 2.

		xiii)	“Note
                                            Obligations” means, as of the date of measurement, the Company’s obligation
                                            to pay the aggregate sum of (i) the outstanding unpaid Principal Amount of this Note; (ii)
                                            all accrued and unpaid interest thereon; and (iii) any other amounts payable hereunder with
                                            respect to this Note.

		xiv)	“Principal
                                            Market” means the New York Stock Exchange, the American Stock Exchange, the
                                            Nasdaq National Market, the Nasdaq SmallCap Market, whichever is at the time the principal
                                            trading exchange or market for such security, or the over-the-counter market on the electronic
                                            bulletin board for such security as reported by Bloomberg or, if no bid or sale information
                                            is reported for such security by Bloomberg, then the average of the bid prices of each of
                                            the market makers for such security as reported in the "pink sheets" by the National
                                            Quotation Bureau, Inc.

		xv)	“Qualified
                                            Equity Financing” means the offer and sale for cash by Borrower of any of its
                                            equity securities with the principal purpose of raising capital and that results in aggregate
                                            gross proceeds to Borrower of at least $5,000,000 (excluding any portion of the Principal
                                            Amount of any of the Notes that shall be converted into Borrower equity securities pursuant
                                            to Section 6 of this Note, or any other convertible debt issued by the Company that
                                            are exchanged for equity securities of the Company in such financing).

		xvi)	“Requisite
                                            Holders” means the holders of a majority of the outstanding aggregate principal
                                            amount under the Notes.

		xvii)	”Securities”
                                            shall have the meaning set forth in Section 7(c).

		xviii)	“Securities
                                            Act” means the Securities Act of 1933, as amended.

		xix)	“Subsequent
                                            Round Securities” means the equity securities sold in the Qualified Equity
                                            Financing.

		2.	Interest.
                                            Interest on the outstanding portion of the Principal Amount shall accrue at a rate equal
                                            to the lesser of eight percent (8%) per annum and the maximum non-usurious interest rate
                                            permitted by applicable law (the “Maximum Rate”). Any overdue unpaid
                                            Principal Amount shall bear interest, before and after judgment, for each day that such amounts
                                            are overdue at a rate equal to the lesser of fifteen percent (15%) per annum and the Maximum
                                            Rate. All computations of interest shall be made on the basis of a 360-day year and 30-day
                                            month for the actual number of days occurring in the period for which such interest is payable.

    	 

    	 

    

		3.	Prepayment.
                                            Subject to Section 11(d), the Principal Amount shall not be prepaid in whole or in
                                            part without the prior written consent of the Requisite Holders.

		4.	Events of
                                            Default. The occurrence of any of the following shall constitute an “Event
                                            of Default” under this Note:

		(a)	Failure
                                            to Pay. Borrower shall fail to pay when due any principal or interest payment on the
                                            due date hereunder or any other amount payable hereunder when due, whether at maturity or
                                            otherwise, provided that the Company fails to pay such amounts within 30 days of receiving
                                            written notice from the Lender that such amounts are due and unpaid; or

		(b)	Voluntary
                                            Bankruptcy or Insolvency Proceedings. Borrower shall (i) apply for or consent to the
                                            appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial
                                            part of its property; (ii) admit in writing its inability, to pay its debts generally as
                                            they mature; (iii) make a general assignment for the benefit of its or any of its creditors;
                                            (iv) be dissolved or liquidated; (v) commence a voluntary case or other proceeding seeking
                                            liquidation, reorganization or other relief with respect to itself or its debts under any
                                            bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any
                                            such relief or to the appointment of or taking possession of its property by any official
                                            in an involuntary case or other proceeding commenced against it

		(c)	Involuntary
                                            Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver,
                                            trustee, liquidator or custodian of Borrower or of all or a substantial part of the property
                                            thereof, or an involuntary case or other proceedings seeking liquidation, reorganization
                                            or other relief with respect to Borrower or the debts thereof under any bankruptcy, insolvency
                                            or other similar law now or hereafter in effect shall be commenced and an order for relief
                                            entered or such proceeding shall not be dismissed or discharged within 30 days of commencement;
                                            or

		(d)	Other
                                            Defaults. Borrower shall fail to pay any obligation in excess of $100,000, either individually
                                            or in the aggregate, when the same becomes due and payable and such failure shall continue
                                            after the applicable grace period, if any, specified in the agreement or instrument giving
                                            rise to such obligation or obligations; or

		(e)	Agreements.
                                            Borrower shall fail to perform or observe in all material respects any of its covenants or
                                            agreements in this Note and such failure shall continue for ten (10) days after Borrower
                                            obtaining knowledge of such failure or receipt by Borrower from Lender of a written notice
                                            of such failure.

		5.	Rights
                                            of Lender upon Default. Upon the occurrence or existence of any Event of Default (other
                                            than an Event of Default described in Sections 4(b) or 4(c)) and at any time
                                            thereafter during the continuance of such Event of Default, the outstanding Note Obligations
                                            payable by Borrower hereunder shall become immediately due and payable upon election of the
                                            Requisite Holders without presentment, demand, protest or any other notice of any kind, all of
which are hereby expressly waived. Upon the occurrence or existence of any Event of Default described in Sections 4(b) and 4(c),
immediately and without notice, all outstanding Note Obligations payable by Borrower hereunder shall automatically become immediately
due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived. In addition
to the foregoing remedies, upon the occurrence or existence of any Event of Default, Lender may exercise any other right power or remedy
granted to it by this Note or otherwise permitted to it by law, either by suit in equity or by action at law, or both.

    	 

    	 

    

		6.	Automatic
                                            Conversion.

		(a)	Automatic
                                            Conversion Upon a Qualified Equity Financing. Subject to the terms and conditions of
                                            this Section 6, upon the closing of a Qualified Equity Financing (the date of such
                                            closing, the “Closing Date”), an amount equal to the Note Obligations
                                            outstanding on the Closing Date shall automatically convert simultaneously with the closing
                                            of the Qualified Equity Financing into a number of Conversion Securities equal to the quotient
                                            obtained by dividing (a) an amount equal to the Note Obligations outstanding on the
                                            Closing Date by (b) the Conversion Price (an “Equity Financing Conversion”),
                                            and the Lender shall be entitled to the benefit of such other terms and conditions that may
                                            be granted to any investor in such Qualified Equity Financing.

		(b)	Automatic
                                            Conversion Upon a Change of Control. In the event that prior to a Qualified Equity Financing
                                            and prior to the Maturity Date, there is a Change of Control, an amount equal to the Note
                                            Obligations outstanding on the Closing Date shall automatically convert simultaneously with
                                            the Change in Control into a number of Conversion Securities equal to the quotient obtained
                                            by dividing (a) an amount equal to the Note Obligations outstanding on the date that
                                            the Change in Control occurs by

		(c)	the Conversion
                                            Price (a “Change in Control Conversion”; and together with an Equity
                                            Financing Conversion, a “Conversion”). The Company shall provide
                                            each Note holder with at least five (5) days prior written notice of the anticipated closing
                                            of a Change of Control.

		(d)	Surrender
                                            of Note. Promptly after any Conversion, but in no event more than five (5) Business Days
                                            thereafter, Lender shall deliver the original of this Note (or a notice to the effect that
                                            the original Note has been lost, stolen or destroyed and an agreement acceptable to Borrower
                                            whereby the holder agrees to indemnify Borrower from any loss incurred by it in connection
                                            with this Note); provided, however, that upon Borrower’s issuance of all amounts
                                            and/or Conversion Securities required under Section 6(a), Section 6(b), and
                                            Section 6(e), as applicable, this Note shall be deemed converted and of no further
                                            force and effect, whether or not it is delivered for cancellation as set forth in this Section
                                            6(c).

		(e)	Reservation
                                            of Equity Securities. Borrower covenants that all Conversion Securities that shall be
                                            so issued shall be duly authorized, validly issued, fully paid, and non-assessable
by Borrower, not subject to any preemptive rights, and free from any taxes, liens, and charges with respect to the issue thereof. Borrower
shall take all such action as may be necessary to ensure that all such Conversion Securities may be so issued without violation of any
applicable law or regulation.

    	 

    	 

    

		(f)	Fractional
                                            Securities. No fractional Conversion Securities shall be issued upon conversion of this
                                            Note. In lieu of Borrower issuing any fractional Conversion Securities to Lender upon the
                                            conversion of this Note, Borrower shall pay to Lender an amount equal to the product obtained
                                            by multiplying the Conversion Price or Merger Conversion Price, as applicable, by the fraction
                                            of a Conversion Security not issued pursuant to the previous sentence (the “Fractional
                                            Payment Amount”).

		7.	Representations
                                            and Warranties of Lender. Lender represents and warrants to Borrower upon the acquisition
                                            of the Note as follows:

		(a)	Binding
                                            Obligation. This Note has been duly executed and delivered by Lender and is a valid and
                                            binding obligation of Lender, enforceable against Lender in accordance with its terms, except
                                            as limited by bankruptcy, insolvency or other laws of general application relating to or
                                            affecting the enforcement of creditors’ rights generally and general principles of
                                            equity.

		(b)	Experience.
                                            Lender is an “accredited investor” as that term is defined in Rule 501 under
                                            the Securities Act. Lender has substantial experience in evaluating and investing in private
                                            placement transactions of securities in companies similar to Borrower so that Lender is capable
                                            of evaluating the merits and risks of its investment in Borrower and has the capacity to
                                            protect Lender’s own interests.

		(c)	Investment.
                                            Lender is acquiring the Note and, as applicable, the Conversion Securities issuable upon
                                            conversion of the Note (collectively, the “Securities”), not as
                                            a nominee or agent, and not with the view to, or for resale in connection with, any distribution
                                            thereof. Lender understands that the Note has not been, and that neither the Note nor the
                                            Conversion Securities will be, registered under the Securities Act by reason of a specific
                                            exemption from the registration provisions of the Securities Act, the availability of which
                                            depends upon, among other things, the bona fide nature of the investment intent and the accuracy
                                            of such Lender’s representations as expressed herein and in response to Borrower’s
                                            inquiries, if any.

		(d)	Rule
                                            144. Lender acknowledges that the Securities must be held indefinitely unless subsequently
                                            registered under the Securities Act or unless an exemption from such registration is available.
                                            Lender is aware of the provisions of Rule 144 promulgated under the Securities Act, which
                                            permit limited resale of securities purchased in a private placement subject to the satisfaction
                                            of certain conditions, including, among other things, the existence of a public market for
                                            the securities, the availability of certain current public information about Borrower, the
                                            resale occurring not less than one year after a party has purchased and paid for the security
                                            to be sold, the sales being effected through a “broker’s transaction” or
                                            in transactions directly with a “market
maker” and the number of securities being sold during any three-month period not exceeding specified limitations.

    	 

    	 

    

		(e)	No Public
                                            Market. Lender understands that no public market now exists for any of the securities
                                            issued by Borrower and that Borrower has made no assurances that a public market will ever
                                            exist for Borrower’s securities.

		(f)	Access
                                            to Data. Lender acknowledges that Lender has received all the information Lender considers
                                            necessary or appropriate for deciding whether to acquire the Securities. Lender further represents
                                            that Lender has had an opportunity to ask questions and receive answers from the Company
                                            regarding the terms and conditions of the offering of the Securities.

		(g)	Brokers
                                            or Finders. ThinkEquity LLC, a U.S.-registered broker-dealer (“ThinkEquity”),
                                            will be paid by the Company a referral fee of ten percent (10%) of the aggregate gross Principal
                                            Amount of the Notes introduced by them. The Company will also pay certain expenses of ThinkEquity
                                            in connection with the Notes, not to exceed $10,000.

		(h)	Tax Advisors.
                                            Lender acknowledges that it has had the opportunity to review with Lender’s own tax
                                            advisors the federal, state, local and foreign tax consequences of this investment and the
                                            transactions contemplated by this Note.

		8.	Representations
                                            and Warranties of Borrower. Borrower represents and warrants to Lender that Borrower
                                            has full legal capacity, power and authority to execute and deliver this Note and to perform
                                            its obligations hereunder. This Note has been duly executed and delivered by Borrower and
                                            is a valid and binding obligation of Borrower, enforceable against it in accordance with
                                            its terms, except as limited by bankruptcy, insolvency or other laws of general application
                                            relating to or affecting the enforcement of creditors’ rights generally and general
                                            principles of equity. The execution and delivery by Borrower of this Note and the performance
                                            of its obligations hereunder will not violate, conflict with, result in a breach of, or constitute
                                            a default under the organizational documents of Borrower or any of its subsidiaries.

		9.	Assignment.
                                            Neither this Note nor any of the rights, interests or obligations hereunder may be assigned
                                            by either Party, whether by operation of law or otherwise, without the other Party’s
                                            prior written consent, and any purported attempt by a Party to assign this Note or any of
                                            the rights, interests or obligations hereunder in violation of this Section 9 shall
                                            be null and void.

		10.	No Collateral.
                                            This Note is unsecured.

		11.	Miscellaneous.

		(a)	Notices.
                                            Any notice, request, instruction, or other communication to be given to any other Party shall
                                            be in writing. Any notice, request, instruction, or other document hereunder shall be deemed
                                            duly given if addressed to the intended recipient at the address provided from time to time.

    	 

    	 

    

		(b)	Survival.
                                            The representations, warranties, covenants and agreements made herein shall survive the execution
                                            and delivery of this Note.

		(c)	Severability.
                                            If any provision of this Note shall be judicially determined to be invalid, illegal or unenforceable,
                                            the validity, legality and enforceability of the remaining provisions shall not in any way
                                            be affected or impaired thereby.

		(d)	Usury.
                                            In the event any interest is paid on this Note which is deemed to be in excess of the then
                                            Maximum Rate, then that portion of the interest payment representing an amount in excess
                                            of the then Maximum Rate shall be deemed a payment of principal and, notwithstanding Section
                                            3, be applied against the principal of this Note.

		(e)	Waivers.
                                            Borrower hereby waives notice of default, presentment or demand for payment, protest or notice
                                            of nonpayment or dishonor and all other notices or demands relative to this instrument.

		(f)	Costs.
                                            Each of the Parties hereto shall pay its own fees and expenses (including the fees of any
                                            attorneys, accountants or others engaged by such Party) in connection with this Note and
                                            the transactions contemplated hereby whether or not the transactions contemplated hereby
                                            are consummated.

		(g)	No Drafting
                                            Presumption. The language used in this Note shall be deemed to be the language chosen
                                            by the Parties to express their mutual intent, and no rule of strict construction shall be
                                            applied against any Party.

		(h)	Reservation
                                            of Rights. No failure on the part of Lender to exercise, and no delay in exercising,
                                            any right, power, privilege or remedy hereunder shall operate as a waiver thereof, nor shall
                                            any single or partial exercise thereof by Lender preclude any other or further exercise thereof
                                            or the exercise of any other right, power, privilege or remedy of Lender.

		(i)	CHOICE
                                            OF LAW. THIS NOTE AND ALL ACTIONS, CAUSES OF ACTION OR CLAIMS OF ANY KIND (WHETHER AT
                                            LAW, IN EQUITY, IN CONTRACT, IN TORT OR OTHERWISE) THAT MAY BE BASED UPON, ARISE OUT OF OR
                                            RELATE TO THIS NOTE, OR THE NEGOTIATION, EXECUTION OR PERFORMANCE OF THIS NOTE SHALL BE GOVERNED
                                            BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING WITHOUT
                                            LIMITATION NEW YORK LAWS RELATING TO APPLICABLE STATUTES OF LIMITATION AND BURDENS OF PROOF,
                                            AVAILABLE REMEDIES AND APPLICABLE EVIDENTIARY PRIVILEGES.

		(j)	WAIVER
                                            OF JURY TRIAL. THE PARTIES HERETO AGREE THAT ANY SUIT, ACTION, OR PROCEEDING, WHETHER
                                            CLAIM OR COUNTERCLAIM, BROUGHT OR INSTITUTED BY EITHER A PARTY HERETO OR ANY SUCCESSOR OR
                                            ASSIGN ON OR WITH RESPECT TO, ARISING
IN CONNECTION WITH, OR RELATED TO THIS NOTE SHALL BE TRIED ONLY BY A COURT AND NOT BY A JURY. THE PARTIES HERETO HEREBY EXPRESSLY WAIVE
ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR PROCEEDING. THE PARTIES HERETO ACKNOWLEDGE AND AGREE THAT THIS SECTION 11(j)
IS A SPECIFIC AND MATERIAL ASPECT OF THIS NOTE.

    	 

    	 

    

		(k)	INTEGRATION.
                                            THIS NOTE REPRESENTS THE FINAL AGREEMENT OF THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE
                                            OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN
                                            ORAL AGREEMENTS BETWEEN THE PARTIES.

		(l)	Amendments
                                            and Waivers. Any term of this Note may be amended, modified (including, without limitation,
                                            any extension of the Maturity Date, to change the Conversion Price or to cause the Notes
                                            to be prepayable) or waived upon the written consent of the Company and the Requisite Holders;
                                            provided however, that, any such amendment or waiver must apply to all outstanding
                                            Notes. No such waiver or consent in any one instance shall be construed to be a continuing
                                            waiver or a waiver in any other instance unless it expressly so provides. The Company shall
                                            promptly notify all Note holders of any such change or amendment.

		(m)	Counterparts.
                                            This Note be manually or electronically executed in one or more counterparts (delivery of
                                            which may occur via facsimile or electronic transmission, including as an attachment to an
                                            electronic mail message in “pdf” or similar format), each of which shall be deemed
                                            an original, but all of which shall together constitute one and the same instrument.

    	 

    	 

    

 

IN WITNESS WHEREOF, the undersigned
have executed this Note as of the date first written above.

	 	NETCAPITAL
    INC.

    By:_________________________________

    Name:

    Title:

     

	 	 
	 	 
	ACCEPTED AND AGREED:

    Lender:

    By:__________________________________

     

    Name:_______________________________

    Title:________________________________

     

    Address:_____________________________

    _____________________________________

    _____________________________________

    _____________________________________

     

    Email:_________________________________

    ______________________________________

    ______________________________________
	 

 

    	 

    	 

    

EXHIBIT
A

Wire Instructions

Bank:

Account
Name:

Routing Number:

Account Number:

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