Document:

SHAREHOLDER' VOTING RIGHTS PROXY
AGREEMENT

 

AMONG

 

 

BEIJING EZAGOO SHOPPING HOLDING
LIMITED

 

RUIYIN (SHENZHEN) FINANCIAL
LEASING LIMITED

 

CHANGSHA EZAGOO TECHNOLOGY LIMITED

 

AND

 

HUNAN EZAGOO ZHICHENG
INTERNET TECHNOLOGY LIMITED

 

JULY 20, 2018

    	 

    	 

    

SHAREHOLDER' VOTING RIGHTS
PROXY AGREEMENT

 

This SHAREHOLDER' VOTING RIGHTS
PROXY AGREEMENT (this "AGREEMENT") is entered into in China as of JULY 20, 2018 by
and among the following Parties:

 

		(1)	BEIJING EZAGOO SHOPPING HOLDING LIMITED (“BESH”)

 

ADDRESS: ROOM 308, FLOOR 3, BUILDING 3, NO.
46, DONGSIXI AVENUE, DONGCHENG DISTRICT, BEIJING CIT

 

UNIFIED SOCIAL CREDIT CODE: 91110116339693336B

 

		(2)	RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED (“RFLL”)

 

ADDRESS: ROOM 201, BUILDING A, NO. 1, QIANWANYI
ROAD, SHENGANG COOPERATIVE DISTRICT, QIANHAI, SHENZHEN CITY

 

UNIFIED SOCIAL CREDIT CODE: 91440300MA5DFU2A6H

 

(3) CHANGSHA EZAGOO TECHNOLOGY LIMITED (“CETL”)

 

REGISTERED ADDRESS: ROOM 201, BUILDING 5, NANFENG SHIGUANGYUAN,
NO.168 TONGZIPO WEST ROAD, YUELU DISTRICT, CHANGSHA, HUNAN 410205, CHINA

 

UNIFIED SOCIAL CREDIT CODE: 91430100MA4PQE488X

 

		(4)	HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED ("HEZL")

 

REGISTERED
ADDRESS: YIJIAREN BUSINESS HOTEL NO. 168, UNIFIED
SOCIAL CREDIT CODE:

 

TONGZIPO WEST ROAD, YUELE DISTRICT, CHANGSHA, HUNAN
410205, CHINA

 

UNIFIED SOCIAL CREDIT CODE: 91430100395212760W

 

(The above
parties shall hereinafter be individually referred to as a "PARTY" and collectively, "PARTIES". BESH
and RFLL shall hereinafter be individually referred to as a "SHAREHOLDER".)

 

 

WHEREAS:

 

1.   
As of the date of this Agreement, BEIJING EZAGOO SHOPPING HOLDING LIMITED and RUIYIN (SHENZHEN) FINANCIAL LEASING
LIMITED are the enrolled Shareholder of HEZL,
legally holding all the equity in HEZL, of which, BEIJING
EZAGOO SHOPPING HOLDING LIMITED holding 80% interest, RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED holding
20%.

 

2. 
The Shareholder intends to severally entrust the individual designated by ZATL
with the exercises of his voting rights in HEZL while
ZATL is willing to designate such an individual.

 

The Parties hereby have reached the following agreement
upon friendly consultations:

 

ARTICLE 1 VOTING RIGHTS ENTRUSTMENT

 

1.1 The Shareholder
hereby irrevocably undertake to sign the Entrustment Letter after execution of the Agreement to entrust the personnel designated
by ZATL ("TRUSTEES") then to exercise the following
rights enjoyed by them as Shareholder of HEZL in accordance
with the then effective articles of association of HEZL (collectively,
the "ENTRUSTED RIGHTS"):

 

 

 

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(1) 
Proposing to convene and attending Shareholder' meetings of HEZL as
proxy of the Shareholder according to the articles of association of ZATL;

 

(2) 
Exercising voting rights as proxy of the Shareholder, on issues discussed and resolved by the Shareholder' meeting of HEZL,
including but not limited to the appointment and election for the directors, general manager and other senior management personnel
of HEZL.

 

The above
authorization and entrustment is granted subject to the status of trustees as Chinese citizens and the approval by ZATL.
Upon and only upon written notice of dismissing and replacing Trustee(s) given by ZATL
to the Shareholder, the Shareholder shall promptly entrust another Chinese citizen then designated
by ZATL to exercise the above Entrusted Rights, and once
new entrustment is made, the original entrustment shall be replaced; the Shareholder shall not cancel the authorization and entrustment
of the Trustee(s) otherwise.

 

1.2 The Trustees shall
perform the entrusted obligation within the scope of entrustment in due care and prudence and in compliance with laws; the Shareholder
acknowledge and assume relevant liabilities for any legal consequences of the Trustees' exercise of the foregoing Entrusted Rights.

 

1.3 The Shareholder hereby
acknowledge that the Trustees are not required to seek advice from the Shareholder prior to their respective exercise of the foregoing
Entrusted Rights. However, the Trustees shall inform the Shareholder in a timely manner of any resolution or proposal on convening
interim Shareholder' meeting after such resolution or proposal is made.

 

ARTICLE 2 RIGHT TO INFORMATION

 

2.1 For the
purpose of exercising the Entrusted Rights under this Agreement, the Trustees are entitled to know the information with regard
to HEZL 's operation, business, clients, finance, staff,
etc., and shall have access to relevant materials of HEZL.
HEZL shall adequately cooperate with the Trustees in this
regard.

 

ARTICLE 3 EXERCISE OF ENTRUSTED
RIGHTS

 

3.1 The Shareholder
will provide adequate assistance to the exercise of the Entrusted Rights by the Trustees, including execution of the resolutions
of the Shareholder' meeting of HEZL or other pertinent
legal documents made by the Trustee when necessary (e.g., when it is necessary for examination and approval of or registration
or filing with governmental departments).

 

3.2 If at
any time during the term of this Agreement, the entrustment or exercise of the Entrusted Rights under this Agreement is unenforceable
for any reason except for default of any Shareholder or HEZL,
the Parties shall immediately seek a most similar substitute for the unenforceable provision and, if necessary, enter into supplementary
agreement to amend or adjust the provisions herein, in order to ensure the realization of the purpose of this Agreement.

 

ARTICLE 4 EXEMPTION AND COMPENSATION

 

4.1 The Parties
acknowledge that ZATL shall not be requested to be liable
for or compensate (monetary or otherwise) other Parties or any third party due to exercise of Entrusted Rights by the Trustees
designated by ZATL under this Agreement.

 

4.2 HEZL
and the Shareholder agree to compensate ZATL for
and hold it harmless against all losses incurred or likely to be incurred by it due to exercise of the Entrusted Rights by the
Trustees designated by ZATL, including without limitation
any loss resulting from any litigation, demand arbitration or claim initiated or raised by any third party against it or from administrative
investigation or penalty of governmental authorities.

 

However, the
Shareholder and HEZL will not compensate for losses incurred
due to willful misconduct or gross negligence of ZATL.

 

ARTICLE 5 REPRESENTATIONS
AND WARRANTIES

 

 

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5.1 The Shareholder hereby represents and warrants
that:

 

5.1.1 The Shareholder
is a Malaysian citizen with full capacity and with full and independent legal status and legal capacity to execute, deliver and
perform this Agreement, and may act independently as a subject of actions.

 

5.1.2 The Shareholder
has full right and authorization to execute and deliver this Agreement and other documents that are related to the transaction
referred to herein and to be executed by them. They have full right and authorization with respect to consummate the transaction
referred to herein.

 

5.1.3 This Agreement
shall be executed and delivered by the Shareholder lawfully and properly. This Agreement constitutes the legal and binding obligations
on his and is enforceable on his in accordance with its terms and conditions hereof

 

5.1.4
The Shareholder is enrolled and legal Shareholder of HEZL as
of the effective date of this Agreement, and except the rights created by this Agreement, the Call Option Agreement entered into
by ZATL, HEZL and
his on JULY 20, 2018(the "CALL OPTION AGREEMENT"), as well as the Equity Pledge Agreement entered into by ZATL
and HEZL and his on JULY 20,
2018 (the "EQUITY PLEDGE AGREEMENT"), there exists no third party right on the Entrusted Rights. Pursuant to this Agreement,
the Trustees may fully and sufficiently exercise the Entrusted Rights in accordance with the then effective articles of association
of HEZL.

 

5.1.5
Considering the fact that according to Equity Pledge Agreement, considering the fact that Shareholder will set aside all the equity
interest held thereby in relevant HEZL as security to secure
the performance by his of his obligations under the Call Option Agreement entered into between his and ZATL
as of SEPTEMBER 12 ,2016, Shareholder undertakes to make full and due performance of the obligations
under Call Option Agreement during the valid term of this Agreement, and she will not be in conflict with any stipulation under
Call Option Agreement, which are likely to have impact on the exercise of the Entrusted Rights the Trustees under this Agreement.

 

5.1.6
Considering the facts that the HEZL entered into the Management
Services Agreement (the "SERVICE AGREEMENT") on JULY 20, 2018with ZATL,
the Call Option Agreement with ZATL and the Shareholder
on SEPTEMBER 12, 2016, and that the Shareholder of HEZL will
set aside all equity interest held thereby in HEZL as security
to secure the performance of the contractual obligations under the above two agreements by HEZL,
the Shareholder undertakes to, during the valid term of this Agreement, procure the full and due performance of HEZL
of any and all its obligations under the Service Agreement, the Call Option Agreement, and warrants
that no adverse impact on the exercise of the Entrusted Rights hereunder by the Trustees will be incurred due to the breach of
the Management Services Agreement, Call Option Agreement by HEZL.

 

5.2 ZATL
(excluding the person designated by it) hereby represents and warrants that:

 

5.2.1 it is a
company with limited liability properly registered and legally existing under the laws of Hong Kong, with an independent corporate
legal person status, and with full and independent legal status and legal capacity to execute, deliver and perform this Agreement
and may act independently as a subject of actions; and

 

5.2.2 it has
the full corporate power and authority to execute and deliver this Agreement and all the other documents to be entered into by
it in relation to the transaction contemplated hereunder, and has the full power and authority to consummate such transaction.

 

5.3 HEZL
hereby represents and warrants that:

 

5.3.1 it is a
company with limited liability properly registered and legally existing under laws of China, with an independent legal person status,
and with full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently
as a subject of actions; and

 

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5.3.2 it has
the full corporate power and authority to execute and deliver this Agreement and all the other documents to be entered into by
it in relation to the transaction contemplated hereunder, and has the full power and authority to consummate such transaction.

 

5.3.3
the Shareholder are enrolled Shareholder as of the effective date of this Agreement, legally holding the equity interest in it.
Except rights created by this Agreement, the Equity Pledge Agreement and the Call Option Agreement, there exists no third party
right on the Entrusted Rights. Pursuant to this Agreement, the Trustees may fully and sufficiently exercise the Entrusted Rights
in accordance with the then effective articles of association of HEZL.

 

5.3.4
Considering the fact that the Shareholder of HEZL will
set aside all the equity interest held thereby in HEZL as
security to secure the performance of the contractual obligations by HEZL under
the Management Services Agreement, the Call Option Agreement, HEZL undertakes
to, during the valid term of this Agreement, make full and due performance of any and all obligations under the Management Services
Agreement, the Call Option Agreement, and warrants that no adverse impact on the exercise of the Entrusted Rights hereunder by
the Trustees will be incurred due to the breach of the Management Services Agreement, the Call Option Agreement by HEZL.

 

ARTICLE 6 TERM OF AGREEMENT

 

6.1 This Agreement takes
effect from the date of due execution of all the Parties hereto, with the valid term of ten (10) years, unless terminated in advance
by written agreement of all the Parties or according to Article 8.1 of this Agreement. This Agreement shall automatically renew
for another one (1) year when the term (whether original or extended, if applicable) of this Agreement is due, unless ZATL gives
a thirty (30) days notice in writing to the other Parties of the cancellation of such renewal.

 

6.2 In case
that the Shareholder transfers all of the equity interest held by it in HEZL with
prior consent of ZATL, such Shareholder shall no longer
be a Party to this Agreement whilst the obligations and commitments of the other Parties under this Agreement shall not be adversely
affected thereby.

 

ARTICLE 7 NOTICE

 

7.1 Any notice, request,
demand and other correspondences made as required by or in accordance with this Agreement shall be made in writing and delivered
to the relevant Party.

 

7.2 The abovementioned
notice or other correspondences shall be deemed to have been delivered when (i) it is transmitted
if transmitted by facsimile or telex, or (ii) it is delivered if delivered in person, or (iii) when five (5) days have elapsed
after posting the same if posted by mail.

 

ARTICLE 8 DEFAULT LIABILITY

 

8.1 The Parties agree and
confirm that, if any of the Parties (the "DEFAULTING PARTY") breaches substantially any of the provisions herein or fails
substantially to perform any of the obligations hereunder, such a breach or failure shall constitute a default under this Agreement
(a "DEFAULT"). In such event any of the other Parties without default (a "NON-DEFAULTING PARTY") who incurs
losses arising from such a Default shall have the right to require the Defaulting Party to rectify such Default or take remedial
measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such
reasonable period or within ten (10) days of a Non-defaulting Party's notifying the Defaulting Party in writing and requiring it
to rectify the Default, then the relevant Non-defaulting Party shall be entitled to choose at its discretion to (1) terminate this
Agreement and require the Defaulting Party to indemnify all damages, or (2) require specific performance by the Defaulting Party
of this Agreement and indemnification against all damages.

 

8.2 Without limiting
the generality of Article 8.1 above, any breach by any Shareholder of the Call Option Agreement or Equity Pledge Agreement shall
be deemed as having constituted the breach by such Shareholder of this Agreement;

 

 

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any breach
by HEZL of the Management Services Agreement or Call Option
Agreement shall be deemed as having constituted the breach by HEZL of
this Agreement.

 

8.3 The Parties
agree and confirm, the Shareholder or HEZL shall not request
the termination of this Agreement for whatsoever reason and under whatsoever circumstance, except otherwise stipulated by laws
or this Agreement.

 

8.4 Notwithstanding any
other provisions herein, the validity of this Article shall not be affected by the suspension or termination of this Agreement.

 

ARTICLE 9 MISCELLANEOUS

 

9.1 This Agreement shall be prepared in English
language.

 

9.2 The conclusion, validity,
execution, amendment, interpretation and termination of this Agreement shall be governed by laws of the China.

 

9.3 Any disputes arising
from and in connection with this Agreement shall be settled through consultations among the Parties involved, and if the Parties
involved fail to reach an agreement regarding such a dispute within thirty (30) days of its occurrence, such dispute shall be submitted
to be China International Economic and Trade Arbitration Commission for arbitration in China accordance with the arbitration rules
of such commission, and the arbitration award shall be final and binding on all the Parties involved.

 

9.4 Any rights,
powers and remedies empowered to any Party by any provisions herein shall not preclude any other rights, powers and remedies enjoyed
by such Party in accordance with be China International Economic and Trade Arbitration Commission and
other provisions under this Agreement, and a Party's exercise of any of its rights, powers and remedies shall not preclude its
exercise of other rights, powers and remedies of it.

 

9.5 Any failure or delay
by a Party in exercising any of its rights, powers and remedies hereunder or in accordance with laws (the "PARTY'S RIGHTS")
shall not lead to a waiver of such rights, and the waiver of any single or partial exercise of the Party's Rights shall not preclude
such Party from exercising such rights in any other way or exercising the remaining part of the Party's Rights.

 

9.6 The titles
of the Articles contained herein are for reference only, and in no circumstances shall such titles be used for or affect the interpretation
of the provisions

 

9.7 Each provision contained
herein shall be severable and independent from each of other provisions. If at any time any one or more articles herein become
invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions herein shall not be affected
thereby.

 

9.8 Upon execution, this
Agreement shall replace any other previous legal documents entered into by relevant Parties on the same subject matter.

 

9.9 Any amendments or supplements
to this Agreement shall be made in writing and shall take effect only when properly signed by the Parties to this Agreement.

 

9.10 In respect
of the Shareholder and HEZL, they shall not assign any
of their rights and/or transfer any of their obligations hereunder to any third parties without prior written consent from ZATL;
ZATL shall have the right to assign any of its rights and/or
transfer any of its obligations hereunder to any third parties designated by it after giving notice to the Shareholder.

 

9.11 This Agreement shall be binding on the legal
successors of the Parties.

 

[The remainder of this page
is left blank]

 

 

 

 

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IN WITNESS HEREOF, the Parties have caused
this Shareholder' Voting Rights Proxy Agreement to be executed in China as of the date first herein above mentioned.

 

 

For and on behalf of

BEIJING EZAGOO SHOPPING HOLDING LIMITED (Company chop)

 

	Signature by: 	 /s/Tan Xiaohao
	Name: 	 Tan Xiaohao
	Position: 	Authorized Representative

 

 

For and on behalf of

RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED (Company chop)

 

 

	Signature by: 	 /s/ Wan Weihong
	Name: 	 Wan Weihong
	Position: 	Authorized Representative

 

 

For and on behalf of

CHANGSHA EZAGOO TECHNOLOGY LIMITED (Company chop)

 

 

 

 

 

	Signature by: 	 /s/Tan Xiaohao
	Name: 	 Tan Xiaohao
	Position:  	Authorized Representative

 

For and on behalf of

HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED (Company chop)

 

 

 

 

 

	Signed by:	/s/ Zhang Qianwan
	Name:	 Zhang Qianwan
	Position: 	Authorized RepresentativeMANAGEMENT SERVICES AGREEMENT

 

 

BETWEEN

 

 

 

 

CHANGSHA EZAGOO TECHNOLOGY LIMITED

 

AND

 

 

HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 20, 2018

    	 

    	 

    

 

MANAGEMENT SERVICES AGREEMENT

 

This MANAGEMENT SERVICES AGREEMENT (“Agreement”)
is entered into as of July 20, 2018 (the “Effective Date”), by and between the following (each a “Party”
and together the “Parties”):

 

		(i)	HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED ("HEZL") Registered Address: YIJIAREN
BUSINESS HOTEL NO. 168, UNIFIED SOCIAL CREDIT CODE: TONGZIPO WEST ROAD, YUELE DISTRICT, CHANGSHA, HUNAN 410205, CHINA

 

		(ii)	CHANGSHA EZAGOO TECHNOLOGY LIMITED ("CETL")

 

Registered Address: ROOM 201, BUILDING 5, NANFENG SHIGUANGYUAN,
NO.168

 

TONGZIPO WEST ROAD, YUELU DISTRICT, CHANGSHA, HUNAN 410205,
CHINA

 

 

RECITALS

 

This Agreement is entered into with reference to the
following facts:

 

A.
HEZL is a limited liability company incorporated under the laws of China. HEZL is 80% owned by BEIJING EZAGOO SHOPPING HOLDING
LIMITED and 20% owned by RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED (collectively, the “Nominee Shareholders”).
HEZL operate digital advertising network in China using flat-panel audiovisual television displays (together with any expansion,
contraction or other change to the scope of that business as contemplated by this Agreement, the “Business”).

 

B.
CETL is a limited liability company incorporated under the laws of China. CETL is 100% owned by EZAGOO LIMITED. CETL has executive
and financial management experience and capability relevant to the Business.

 

C.
HEZL desires to engage CETL to provide management, financial and other services in connection with the operation of the Business,
and CETL desires to provide those services to HEZL. The Parties now desire to memorialize the terms and conditions pursuant to
which those services will be provided by CETL to HEZL, and pursuant to which HEZL will compensate CETL therefor.

 

NOW, THEREFORE,
in consideration for the mutual covenants and promises contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which is acknowledged by the Parties, and through friendly consultation, under the principle of equality and
mutual benefits, in accordance with the relevant laws and regulations of China, the Parties agree as follows:

 

AGREEMENT

 

1. 
Management Services. During the Term of this Agreement, CETL will identify
and provide to HEZL executive and financial management personnel in sufficient numbers and with expertise and experience appropriate
to provide the services identified in Appendix I, as it may be amended from time

to time by written agreement of
the Parties (the “Management Services”), and will provide those

 

 

 

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Services to HEZL. HEZL
will take all commercially reasonable actions to permit and facilitate the provision of the Management Services by CETL and accept
those Services.

 

2.
Compensation to CETL. As compensation for providing the Management Services, CETL will be entitled to receive a fee
(the “Management Services Fee”), upon demand, equal to one hundred percent (100%) of the annual Net Profit
of HEZL during the Term of this Agreement. At the sole discretion of CETL, the Net Profit of HEZL shall be calculated through the
end of the immediately preceding fiscal year of HEZL, and paid by HEZL to CETL within sixty (60) days of demand therefor. Until
and unless such demand is made, the Management Services Fee is not due and payable to CETL and it is the intent of the Parties
that the Fee represents shall not be accrued by HEZL. Any dispute between the Parties concerning any calculation or payment under
this Section 2 will be resolved pursuant to the dispute resolution provisions of Section 15.

 

For
the purpose of this agreement, Net Profit means the net profit of HEZL for the period immediately preceding the date for calculation
of Net Profit set out in the Agreement, calculated as follows: (a) all revenue or income accrued by HEZL, less (b) all costs, accrued
expenses and taxes paid or accrued and payable.

 

3. 
Ad Hoc Payment. The Parties acknowledge that in order to provide the Management Services under this Agreement,
CETL may incur expenses and costs from time to time, and the Parties further agree that CETL may request an ad hoc payment every
calendar quarter and such payment may be credited against HEZL’s future payment obligations of the Management Services Fee.

 

4. 
Credit for Amounts Paid Under Other Agreements. CETL and HEZL are or may be parties to certain other agreements,
such as the Technical Service Agreement, some or all of which may require certain payments to be made by HEZL to affiliates and/or
designee of CETL in consideration for services, equipment or other items of value provided by affiliates and/or designee of CETL.
The Parties agree that any and all such amounts may be (a) separately paid by HEZL and accordingly counted as expenses of HEZL,
reducing HEZL’s Net Profit; or (b) included in the aggregate Net Profit of HEZL and not separately paid to CETL.

 

5. 
Interest Penalty. If any amounts due and payable under this Agreement are not paid when due, interest will
accumulate on such amounts at the rate of four percent (4%) per annum until paid. This interest penalty may be reduced or waived
by the Party entitled to receive it in light of actual circumstances, including the reason for any delay in payment.

 

6. 
Guarantees. To the extent and only to the extent permitted by applicable law, each Party agrees to act as
a guarantor of the indebtedness of the other, as and only as follows:

 

 

 

 

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		(a)	HEZL will not incur any indebtedness to any Person not a party to this Agreement
without the advance written consent of CETL in the exercise of its obligations to provide comprehensive Management Services under
this Agreement.

 

		(b)	CETL may, in the exercise of its reasonable business judgment, incur indebtedness
to any Person not a party to this Agreement, provided that any such indebtedness may only be in connection with the Business. If
CETL incurs any indebtedness as contemplated by this Section 6(b), HEZL will act as a guarantor of that indebtedness.

 

7. 
Exclusivity. During the Term of this Agreement, (a) HEZL will not contract with any other Person to provide
services which are the same or similar to the Management Services. For purposes of

 

this Section 7 only, “Person” does
not include any Affiliate of either Party, including other entities that may become affiliated with either Party.

 

		8.	Operation of Business. During the Term of this Agreement:

 

		(a)	The HEZL will ensure that:

 

		(i)	the business of HEZL, together with all business opportunities presented
to or which become available to HEZL, will be treated as part of the Business covered by the Management Services and this Agreement;

 

		(ii)	all cash of HEZL will be maintained in Company Bank Accounts or disposed of in accordance with
this Agreement;

 

		(iii)	all business income, working capital, recovered accounts receivable, and
any other funds which come into the possession of HEZL or are derived from or related to the operation of the business of HEZL,
are deposited into a Company Bank Account;

 

		(iv)	all accounts payable, employee compensation and other employment-related
expenses, and any payments in connection with the acquisition of any assets for the benefit of HEZL or the satisfaction of any
liabilities of HEZL, are paid from amounts maintained in Company Bank Accounts;

 

		(v)	CETL or any third party designated by CETL will have full access to the
financial records of HEZL and from time to time, CETL may request, at its sole option, to conduct an auditing with regard to the
financial status of HEZL;

 

		(vi)	no action is taken without the prior written consent of CETL that would have the effect of entrusting
all or any part of the business of HEZL to any other Person.

 

		(b)	CETL will ensure that:

 

		(i)	it exercises with respect to the conduct
of the Business the same level of care it exercises with respect to the operation of its own business and will at all times act
in accordance with its Reasonable Business Judgment, including taking no action which it knows, or in the exercise of its Reasonable
Business Judgment should have known, would materially

 

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adversely affect the status of any of permits,
licenses and approvals necessary for the conduct of the Business or constitute a violation of all Legal Requirements;

 

		(ii)	neither it, nor any of its agents or representatives, takes any action that
interferes with, or has the effect of interfering with, the operation of the Business in accordance with this Agreement, or which
materially adversely affects its assets, operations, business or prospects;

 

		(iii)	use its Best Efforts to cooperate and assist HEZL to maintain in effect
all permits, licenses and other authorizations and approvals necessary or appropriate to the conduct of the Business; and

 

		(iv)	subject to the provisions of Section 10 relating to the Transition
period, it will preserve intact the business and operations of HEZL and take no action which it knows, or in the exercise of its
Reasonable Business Judgment should have known, would materially adversely affect the business, operations, or prospects of HEZL.

 

9. 
Material Actions. The Parties acknowledge and agree that the economic risk of the operation of the Business
is being substantially assumed by HEZL and that the continued business success of HEZL is necessary to permit the Parties to realize
the benefits of this Agreement. During the Term of this Agreement, the Parties therefore will ensure that HEZL does not take any
Material Action without the advance written consent of CETL, which consent will not be unreasonably withheld or delayed.

 

10. 
Transition of Business to CETL; Future Expansion. At the sole discretion of
CETL, during the Term of this Agreement, CETL may transfer or cause to be transferred from HEZL to CETL or its

 

designee (referred to
collectively for purposes of this Section 10 as “CETL”) any part or all of the business, personnel, assets and operations
of HEZL which may be lawfully conducted, employed, owned or operated by CETL (the “Transition”), including any of the
following:

 

		(a)	business opportunities presented to, or available to HEZL may be pursued
and contracted for in the name of CETL rather than HEZL, and at its discretion CETL may employ the resources of HEZL to secure
such opportunities;

 

		(b)	any tangible or intangible property of HEZL, any contractual rights, any personnel, and any other
items or things of value held by HEZL may be transferred to CETL at book value;

 

		(c)	real property, personal or intangible property, personnel, services, equipment,
supplies and any other items useful for the conduct of the Business may be obtained by CETL by acquisition, lease, license or otherwise,
and made available to HEZL on terms to be determined by agreement between CETL and HEZL;

 

		(d)	contracts entered into in the name of HEZL may be transferred to CETL, or
the work under such contracts may be subcontracted, in whole or in part, to CETL, on terms to be determined by agreement between
CETL and HEZL; and

 

 

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		(e)	any changes to, or any expansion or contraction of, the Business may be carried out in the exercise
of the sole discretion of CETL, and in the name of and at the expense of, CETL;

 

provided, however,
that none of the foregoing, and no other part of the Transition may cause or have the effect of terminating (without being substantially
replaced under the name of CETL) or adversely affecting any license, permit or regulatory status of HEZL. Any of the activity contemplated
by this Section10 will be deemed part of the “Business.”

 

11. 
Ownership of Intellectual Property. All Intellectual Property created by CETL
in the course of providing the Management Services will be the sole property of CETL and HEZL will have no right to any ownership
or use of such Intellectual Property except under separate written agreement with CETL.

 

12. 
Representations and Warranties of HEZL. HEZL hereby makes the following representations and warranties for
the benefit of CETL:

 

		(a)	Corporate Existence and Power.
HEZL is a limited liability company duly organized and validly existing under the laws of China, and has all legal or corporate
power and all governmental licenses, authorizations, consents and approvals required to carry on its business as now conducted
and as currently contemplated to be conducted. HEZL has never approved, or commenced any proceeding or made any election contemplating,
the dissolution or liquidation of HEZL or the winding up or cessation of the business or affairs of HEZL.

 

		(b)	Authorization; No Consent.
HEZL (i) has taken all necessary corporate and other actions to authorize its execution, delivery and performance of this Agreement
and all related documents and has the corporate and other power and authorization to execute, deliver and perform this Agreement
and the other related documents; (ii) has the absolute and unrestricted right, power, authority, and capacity to execute and deliver
this Agreement and the other related documents and to perform its obligations under this Agreement and the other related documents;
(iii) is not required to give any notice to or obtain any Consent from any Person in connection with the execution and delivery
of this Agreement or the consummation or performance of any of the transactions or actions contemplated by any of the Business
Cooperation Agreements, except for any notices that have been duly given or Consents that have been duly obtained; and (iv) holds
all the governmental authorizations necessary to permit it to lawfully conduct and operate its business in the manner it currently
conducts and operates such business and to permit HEZL to own and use its assets in the manner in which it currently owns and uses
such assets. To the best knowledge of HEZL, there is no basis for any governmental authority to withdraw, cancel or cease in any
manner any of such governmental authorizations.

 

		(c)	No Conflicts. The execution and perform of this Agreement
by HEZL will not contravene, conflict with, or result in violation of (i) any provision of the organizational documents of HEZL;
(ii) resolution adopted by the board of directors or the equity holders of HEZL; and

 

 

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		(iii)	any laws and regulations to which HEZL or the transactions and relationships contemplated in
this Agreement.

 

13. 
Representations and Warranties of CETL. CETL hereby makes the following representations and warranties for
the benefit of HEZL:

 

		(a)	Corporate Existence and Power. CETL (i) is a limited liability
company duly organized and validly existing under the laws of China, and has all corporate power and all governmental licenses,
authorizations, consents and approvals required to carry on its business as now conducted and as currently contemplated to be conducted;
and (ii) has not ever approved, or commenced any proceeding or made any election contemplating, the dissolution or liquidation
of CETL or the winding up or cessation of the business or affairs of CETL.

 

		(b)	Authorization; No Consent. CETL (i) has taken all necessary
corporate actions to authorize its execution, delivery and performance of this Agreement and all related documents and has the
corporate power and authorization to execute, deliver and perform this Agreement and the other related documents; (ii) has the
absolute and unrestricted right, power, authority, and capacity to execute and deliver this Agreement and the other related documents
and to perform its obligations under this Agreement and the other related documents; (iii) is not required to give any notice to
or obtain any Consent from any Person in connection with the execution and delivery of this Agreement or the consummation or performance
of any of the Business Cooperation Agreements, except for any notices that have been duly given or Consents that have been duly
obtained; and (iv) has all the governmental authorizations necessary to permit CETL to lawfully conduct and operate its business
in the manner it currently conducts and operates such business and to permit CETL to own and use its assets in the manner in which
it currently owns and uses such assets. To the best knowledge of CETL, there is no basis for any governmental authority to withdraw,
cancel or cease in any manner any of such governmental authorizations.

 

		(c)	No Conflicts. The execution and perform of this Agreement
by CETL will not contravene, conflict with, or result in violation of (i) any provision of the organizational documents of CETL;
(ii) any resolution adopted by the board of directors or the equity holders of CETL; and (iii) any laws and regulations to which
CETL or the transactions and relationships contemplated in this Agreement and the Business Cooperation Agreements are subject.

 

		14.	Liability for Breach; Indemnification and Hold Harmless. Each of the Parties will
be liable

 

to the other Party for
any damage or loss caused by such Party’s breach of this Agreement. HEZL will indemnify and hold harmless CETL from and against
any claims, losses or damages unless caused by a breach by CETL of its obligations under this Agreement or by the willful, reckless
or illegal conduct of CETL. CETL will indemnify and hold harmless HEZL from and against any claims, losses or damages

 

 

6

    	 

    	 

    

 

caused by any breach by HEZL of its obligations
under this Agreement or by the willful, reckless or illegal conduct of HEZL.

 

		15.	Dispute Resolution.

 

		(a)	Friendly Consultations. Any and all disputes, controversies
or claims arising out of or relating to the interpretation or implementation of this Agreement, or the breach hereof or relationships
created hereby, will be settled through friendly consultations.

 

		(b)	Arbitration. If any such dispute
is not resolved through friendly consultations within sixty (60) days from the date a Party gives the other Parties written notice
of a dispute, then it will be resolved exclusively by arbitration under in accordance with the UNCITRAL Arbitration Rules as at
present in force and as may be amended by the rest of this clause. The appointing authority shall be China International Economic
and Trade Arbitration Commission. The place of arbitration shall be in China at China International Economic and Trade Arbitration
Commission. Any arbitration will be conducted in either in English or Chinese languages. The arbitration award will be final and
binding on both Parties and will not be subject to any appeal, and the Parties agree to be bound thereby and to act accordingly.

 

		(c)	Continuation of Agreement.
It is not necessary for any Party to declare a breach of this Agreement in order to proceed with the dispute resolution process
set out in this Section 15. Unless and until this Agreement is terminated pursuant to Section 16, this Agreement
will continue in effect during the pendency of any discussions or arbitration under this Section 15.

 

16. 
Term. This Agreement is effective as of the date first set forth above, and
will continue in effect for a period of ten (10) years (the “Initial Term”), and for succeeding periods
of the same duration

 

(each, “Subsequent Term”),
until terminated by one of the following means either during the Initial Term or thereafter. The period during which this Agreement
is effective is referred to as the “Term.”

 

		(a)	Mutual Consent. This Agreement may be terminated at any time by the mutual consent
of the Parties, evidenced by an agreement in writing signed by both Parties.

 

		(b)	Termination by CETL. This Agreement may be terminated by CETL
((i) upon written notice delivered to HEZL no later than ten (10) calendar days before the expiration of the Initial Term or any
Subsequent Term; or (ii) at any time by upon ninety (90) calendar days’ written notice delivered to HEZL.

 

		(c)	Breach or Insolvency. Either of HEZL or CETL may terminate this Agreement immediately

 

(a) upon the material breach
by the other of its obligations hereunder and the failure of such Party to cure such breach within thirty (30) working days after
written notice from the non-breaching Party; or (b) upon the filing of a voluntary or involuntary petition in bankruptcy by the
other or of which the other is the subject, or the insolvency of the other, or the commencement of any proceedings placing the
other in receivership, or of any assignment by the other for the benefit of creditors.

 

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		(d)	Consequences of Termination. Upon any effective date of any termination of this
Agreement:

 

(i) CETL will instruct all
management personnel identified or provided by it to HEZL to cease working for HEZL; (ii) CETL will deliver to HEZL all chops and
seals of HEZL; (iii) CETL will deliver to HEZL, or grant to HEZL unrestricted access to and control of, all of the financial and
other books and records of HEZL, including any and all permits, licenses, certificates and other proprietary and operational documents
and instruments; (iv) CETL will cooperate fully in the replacement of any signatories or persons authorized to act on behalf of
HEZL with persons appointed by HEZL; and (v) any licenses granted by CETL to HEZL during the Term will terminate unless otherwise
agreed by the Parties.

 

		(e)	Survival. The provisions of Section 14 (Indemnification;
Hold Harmless), Section 15 (Dispute Resolution), Section 16(d) (Consequences of Termination) and Section 17
(Miscellaneous) will survive any termination of this Agreement. Any amounts owing from any Party to any other Party on the effective
date of any termination under the terms of this Agreement will continue to be due and owing despite such termination.

 

		17.	Miscellaneous.

 

		(a)	Headings and Gender. The headings of Sections in this Agreement
are provided for convenience only and will not affect its construction or interpretation. All references to

 

“Section” or
“Sections” refer to the corresponding Section or Sections of this Agreement. All words used in this Agreement will
be construed to be of such gender or number as the circumstances require. Unless otherwise expressly provided, the word “including”
does not limit the preceding words or terms.

 

		(b)	Usage. The words “include” and “including” will be read to include “without limitation.”

 

		(c)	Severability. Whenever possible
each provision and term of this Agreement will be interpreted in a manner to be effective and valid but if any provision or term
of this Agreement is held to be prohibited by or invalid, then such provision or term will be ineffective only to the extent of
such prohibition or invalidity, without invalidating or affecting in any manner whatsoever the remainder of such provision or term
or the remaining provisions or terms of this Agreement. If any of the covenants set forth in this Agreement are held to be unreasonable,
arbitrary, or against public policy, such covenants will be considered divisible with respect to scope, time and geographic area,
and in such lesser scope, time and geographic area, will be effective, binding and enforceable against the Parties.

 

		(d)	Waiver. No failure or delay by any Party to exercise any right, power or remedy
under this Agreement will operate as a waiver of any such right, power or remedy.

 

		(e)	Integration. This Agreement supersede any and all prior discussions
and agreements (written or oral) between the Parties with respect to cooperation arrangement and other matters contained herein.

 

 

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		(f)	Assignments, Successors, and No Third-Party Rights. No Party
may assign any of its rights under this Agreement without the prior consent of the other Parties, which will not be unreasonably
withheld. Nothing expressed or referred to in this Agreement will be construed to give any Person other than the Parties to this
Agreement any legal or equitable right, remedy, or claim under or with respect to this Agreement or any provision of this Agreement.
This Agreement and all of its provisions and conditions are for the sole and exclusive benefit of the Parties to this Agreement
and their successors and assigns.

 

		(g)	Notices. All notices, requests, demands, claims, and other
communications under this Agreement will be in writing. Any Party may send any notice, request, demand, claim, or other communication
under this Agreement to the intended recipient at the address set forth on the signature page of this Agreement by any means (including
personal delivery, expedited courier, messenger service, telecopy, telex, ordinary mail, or electronic mail), but no such notice,
request, demand, claim, or other communication will be deemed to have been duly given unless and until it actually is received
by the intended recipient. Refusal by a Party to accept notice that is validly given under this Agreement will be deemed to have
been received by such Party upon receipt. Any Party may change the address to which notices, requests, demands, claims, and other
communications under this Agreement are to be delivered by giving the other Parties notice in the manner herein set forth. Any
notice, request, demand, claim, or other communication under this Agreement will be addressed to the intended recipient as set
forth on the signature page hereto.

 

		(h)	Further Assurances. Each of the Parties will use its best
efforts to take all action and to do all things necessary, proper, or advisable in order to consummate and make effective the transactions
contemplated by this Agreement.

 

		(i)	Governing Law. This Agreement will be construed, and the rights
and obligations under this Agreement determined, in accordance with the laws of the China, without regard to the principles of
conflict of laws thereunder.

 

		(j)	Amendment. This Agreement may not be amended, altered or modified except by a subsequent
written document signed by all Parties.

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9

 

 

 

 

IN WITNESS HEREOF, the Parties
have caused this Management Services Agreement to be executed in China as of the date first herein above mentioned.

 

For and on behalf of

BEIJING EZAGOO SHOPPING HOLDING LIMITED (Company chop)

 

	Signature by: 	 /s/Tan Xiaohao
	Name: 	 Tan Xiaohao
	Position: 	Authorized Representative

 

 

For and on behalf of

RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED (Company chop)

 

 

	Signature by: 	 /s/ Wan Weihong
	Name: 	 Wan Weihong
	Position: 	Authorized Representative

 

 

For and on behalf of

CHANGSHA EZAGOO TECHNOLOGY LIMITED (Company chop)

 

 

	Signature by: 	 /s/Tan Xiaohao
	Name: 	 Tan Xiaohao
	Position:  	Authorized Representative

 

For and on behalf of

HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED (Company chop)

 

 

	Signed by:	/s/ Zhang Qianwan
	Name:	 Zhang Qianwan
	Position: 	Authorized Representative

 

    	 

    	 

    

 

 

 

APPENDIX I

 

Management Services

 

For purposes of that certain
Management Services Agreement to which this is Appendix A, “Management Services” means the following:

 

General Management Services

 

“Management Services”
includes the following general management services relating to the operation of the Business, except for those compulsively limited
or prohibited by laws of China and regulations otherwise:

 

(a)  
All aspects of the day-to-day operations of HEZL, including its relationships with its customers, its performance under
agreements or other arrangements with any other parties, its compliance with applicable laws and regulations;

 

(b)
The appointment, hiring, compensation (including any bonuses, non-monetary compensation, fringe and other benefits, and equity-based
compensation), firing and discipline of all employees, consultants, agents and other representatives of HEZL, including the Executive
Director or the Board of Directors of HEZL and all other executive officers or employees of HEZL;

 

(c) 
Establishment, maintenance, termination or elimination of any plan or other arrangement for the benefit of any employees,
consultants, agents, representatives or other personnel of HEZL;

 

(d) 
Management, control and authority over all accounts receivable, accounts payable and all funds and investments of HEZL;

 

(e) 
Management, control and authority over HEZL Bank Accounts, in connection with which all seals and signatures will be those
of personnel appointed and confirmed by CETL;

 

		(f)	Any expenditure, including any capital expenditure, of HEZL;

 

(g) The entry into, amendment
or modification, or termination of any contract, agreement and/or other arrangement to which HEZL is, was, or would become a party;

 

(h) 
The acquisition, lease or license by HEZL of any assets, supplies, real or personal property, or intellectual or other intangible
property;

 

(i) 
The acquisition of or entry into any joint venture or other arrangement by HEZL with any other Person;

 

(j) 
Any borrowing or assumption by HEZL of any liability or obligation of any nature, or the subjection of any asset of HEZL
to any Lien;

 

(k)  
Any sale, lease, license, retirement or other disposition of any asset owned, beneficially owned or controlled by HEZL;

 

(l) 
Applying for, renewing, and taking any action to maintain in effect, any permits, licenses or other authorizations and approvals
necessary for the operation of HEZL’s business;

 

(m) 
The commencement, prosecution or settlement by HEZL of any litigation or other dispute with any other Person, through mediation,
arbitration, lawsuit or appeal;

 

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		(n)	The declaration or payment of any dividend or other distribution of profits of

 

(o) 
The preparation and filing of all Tax Returns, the payment or settlement of any and all Taxes,
and the conduct of any proceedings with any Governmental Authority with respect to any Taxes; and

(p) 
The carrying out of the Transition, as defined in Section 10, and any business or corporate restructuring of HEZL or its
subsidiaries.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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