Document:

EX-10.4

 Exhibit 10.4 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
                , 2021 by and between AiHuiShou International Co. Ltd., an exempted company incorporated and existing under the laws of the Cayman Islands (the
“Company”) and                  (ID Card/Passport No.
                ) (the “Executive”). 

RECITALS 
 WHEREAS, the Company desires to
employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below) and under the terms and conditions of the Agreement; 

WHEREAS, the Executive desires to be employed by the Company during the term of Employment and under the terms and conditions of the Agreement; 

AGREEMENT 
 NOW, THEREFORE, in
consideration of the premises and the mutual covenants and agreements herein contained, the Company and the Executive agree as follows: 
  

	1.	 EMPLOYMENT 

The Company hereby agrees to employ the Executive and the Executive hereby accepts such employment, on the terms and conditions hereinafter set
forth (the “Employment”). 
  

	2.	 TERM 

Subject to the terms and conditions of the Agreement, the initial term of the Employment shall be
         years, commencing on                 , 2021 (the “Effective Date”) and ending on
                ,          (the “Initial Term”), unless terminated earlier pursuant to the terms
of the Agreement. Upon expiration of the Initial Term of the Employment, the Employment shall be automatically extended for successive periods of          months each (each, an “Extension
Period”) unless either party shall have given 60 days advance written notice to the other party, in the manner set forth in Section 19 below, prior to the end of the Initial Term or the Extension Period in question, as applicable, that
the term of this Agreement that is in effect at the time such written notice is given is not to be extended or further extended, as the case may be (the period during which this Agreement is effective being referred to hereafter as the
“Term”). 
  

	3.	 POSITION AND DUTIES 

 

	 	(a)	 During the Term, the Executive shall serve as
                 of the Company or in such other position or positions with a level of duties and responsibilities consistent with the foregoing with the Company
and/or its subsidiaries and affiliates as the Board of Directors of the Company (the “Board”) may specify from time to time and shall have the duties, responsibilities and obligations customarily assigned to individuals serving in
the position or positions in which the Executive serves hereunder and as assigned by the Board, or with the Board’s authorization, by the Company’s Chief Executive Officer. 

	 	(b)	 The Executive agrees to serve without additional compensation, if elected or appointed thereto, as a director
of the Company or any subsidiaries or affiliated entities of the Company (collectively, the “Group”) and as a member of any committees of the board of directors of any such entity, provided that the Executive is indemnified for
serving in any and all such capacities on a basis no less favorable than is currently provided to any other director of any member of the Group. 

  

	 	(c)	 The Executive agrees to devote all of his/her working time and efforts to the performance of his/her duties for
the Company and to faithfully and diligently serve the Company in accordance with the Agreement and the guidelines, policies and procedures of the Company approved from time to time by the Board. 

 

	4.	 NO BREACH OF CONTRACT 

The Executive hereby represents to the Company that: (i) the execution and delivery of the Agreement by the Executive and the performance
by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or by which the Executive is otherwise bound, except
that the Executive does not make any representation with respect to agreements required to be entered into by and between the Executive and any member of the Group pursuant to the applicable law of the jurisdiction in which the Executive is based,
if any; (ii) that the Executive is not in possession of any information (including, without limitation, confidential information and trade secrets) the knowledge of which would prevent the Executive from freely entering into the Agreement and
carrying out his/her duties hereunder; and (iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement with any person or entity other than any member of the Group. 

 

	5.	 LOCATION 

The Executive will be based in                 ,
         or any other location as requested by the Company during the Term. 
  

	6.	 COMPENSATION AND BENEFITS 

 

	 	(a)	 Cash Compensation. As compensation for the performance by the Executive of his/her obligations
hereunder, during the Term, the Company shall pay the Executive cash compensation (inclusive of the statutory benefit contributions that the Company is required to set aside for the Executive under applicable law) pursuant to Schedule A
hereto, subject to annual review and adjustment by the Board or any committee designated by the Board. 

  
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	 	(b)	 Equity Incentives. During the Term, the Executive shall be eligible to participate, at a level
comparable to similarly situated executives of the Company, in such long-term compensation arrangements as may be authorized from time to time by the Board, including any share incentive plan the Company may adopt from time to time in its sole
discretion. 

  

	 	(c)	 Benefits. During the Term, the Executive shall be entitled to participate in all of the employee benefit
plans and arrangements made available by the Company to its similarly situated executives, including, but not limited to, any retirement plan, medical insurance plan and travel/holiday policy, subject to and on a basis consistent with the terms,
conditions and overall administration of such plans and arrangements. 

  

	7.	 TERMINATION OF THE AGREEMENT 

The Employment may be terminated as follows: 
  

	 	(a)	 Death. The Employment shall terminate upon the Executive’s death. 

 

	 	(b)	 Disability. The Employment shall terminate if the Executive has a disability, including any physical or
mental impairment which, as reasonably determined by the Board, renders the Executive unable to perform the essential functions of his/her position at the Company, even with reasonable accommodation that does not impose an undue burden on the
Company, for more than 180 days in any 12-month period, unless a longer period is required by applicable law, in which case that longer period shall apply. 

 

	 	(c)	 Cause. The Company may terminate the Executive’s employment hereunder for Cause. The occurrence of
any of the following, as reasonably determined by the Company, shall be a reason for Cause, provided that, if the Company determines that the circumstances constituting Cause are curable, then such circumstances shall not constitute Cause unless and
until the Executive has been informed by the Company of the existence of Cause and given an opportunity of ten business days to cure, and such Cause remains uncured at the end of such ten-day period:

  

	 	(1)	 continued failure by the Executive to satisfactorily perform his/her duties; 

 

	 	(2)	 willful misconduct or gross negligence by the Executive in the performance of his/her duties hereunder,
including insubordination; 

  

	 	(3)	 the Executive’s conviction or entry of a guilty or nolo contendere plea of any felony or any
misdemeanor involving moral turpitude; 

  

	 	(4)	 the Executive’s commission of any act involving dishonesty that results in material financial,
reputational or other harm, monetary or otherwise, to any member of the Group, including but not limited to an act constituting misappropriation or embezzlement of the property of any member of the Group as determined in good faith by the Board; or

  
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	 	(5)	 any material breach by the Executive of this Agreement. 

 

	 	(d)	 Good Reason. The Executive may terminate his/her employment hereunder for “Good Reason” upon
the occurrence, without the written consent of the Company, of an event constituting a material breach of this Agreement by the Company that has not been fully cured within ten business days after written notice thereof has been given by the
Executive to the Company setting forth in sufficient detail the conduct or activities the Executive believes constitute grounds for Good Reason, including but not limited to: 

 

	 	(1)	 the failure by the Company to pay to the Executive any portion of the Executive’s current compensation or
to pay to the Executive any portion of an installment of deferred compensation under any deferred compensation program of the Company, within 20 business days of the date such compensation is due; or 

 

	 	(2)	 any material breach by the Company of this Agreement. 

 

	 	(e)	 Without Cause by the Company; Without Good Reason by the Executive. The Company may terminate the
Executive’s employment hereunder at any time without Cause upon 60-day prior written notice to the Executive. The Executive may terminate the Executive’s employment voluntarily for any reason or no
reason at any time by giving 60-day prior written notice to the Company. 

  

	 	(f)	 Notice of Termination. Any termination of the Executive’s employment under the Agreement shall be
communicated by written notice of termination (“Notice of Termination”) from the terminating party to the other party. The notice of termination shall indicate the specific provision(s) of the Agreement relied upon in effecting the
termination. 

  

	 	(g)	 Date of Termination. The “Date of Termination” shall mean (i) the date set forth
in the Notice of Termination, or (ii) if the Executive’s employment is terminated by the Executive’s death, the date of his/her death. 

  

	 	(h)	 Compensation upon Termination. 

 

	 	(1)	 Death. If the Executive’s employment is terminated by reason of the Executive’s death, the
Company shall have no further obligations to the Executive under this Agreement and the Executive’s benefits shall be determined under the Company’s retirement, insurance and other benefit and compensation plans or programs then in effect
in accordance with the terms of such plans and programs. 

  
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	 	(2)	 By Company without Cause or by the Executive for Good Reason. If the Executive’s employment is
terminated by the Company other than for Cause or by the Executive for Good Reason, the Company shall (i) continue to pay and otherwise provide to the Executive, during any notice period, all compensation, base salary and previously earned but
unpaid incentive compensation, if any, and shall continue to allow the Executive to participate in any benefit plans in accordance with the terms of such plans during such notice period; and (ii) pay to the Executive, in lieu of benefits under
any severance plan or policy of the Company, any such amount as may be agreed between the Company and the Executive. 

  

	 	(3)	 By Company for Cause or by the Executive other than for Good Reason. If the Executive’s employment
shall be terminated by the Company for Cause or by the Executive other than for Good Reason, the Company shall pay the Executive his/her base salary at the rate in effect at the time Notice of Termination is given through the Date of Termination,
and the Company shall have no additional obligations to the Executive under this Agreement. 

  

	 	(i)	 Return of Company Property. The Executive agrees that following the termination of the Executive’s
employment for any reason, or at any time prior to the Executive’s termination upon the request of the Company, he/she shall return all property of the Group that is then in or thereafter comes into his/her possession, including, but not
limited to, any Confidential Information (as defined below) or Intellectual Property (as defined below), or any other documents, contracts, agreements, plans, photographs, projections, books, notes, records, electronically stored data and all
copies, excerpts or summaries of the foregoing, as well as any automobile or other materials or equipment supplied by the Group to the Executive, if any. 

  

	 	(j)	 Requirement for a Release. Notwithstanding the foregoing, the Company’s obligations to pay or
provide any benefits shall (1) cease as of the date the Executive breaches any of the provisions of Sections 8, 9 and 11 hereof, and (2) be conditioned on the Executive signing the Company’s customary release of claims in favor of the
Group and the expiration of any revocation period provided for in such release. 

  

	8.	 CONFIDENTIALITY AND NONDISCLOSURE 

 

	 	(a)	 Confidentiality and Non-Disclosure. 

  
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	 	(1)	 The Executive acknowledges and agrees that: (A) the Executive holds a position of trust and confidence
with the Company and that his/her employment by the Company will require that the Executive have access to and knowledge of valuable and sensitive information, material, and devices relating to the Company and/or its business, activities, products,
services, customers and business partners, including, but not limited to, the following, regardless of the form in which the same is accessed, maintained or stored: the identity of the Company’s actual and prospective customers and, as
applicable, their representatives; prior, current or future research or development activities of the Company; the products and services provided or offered by the Company to customers or potential customers and the manner in which such services are
performed or to be performed; the product and/or service needs of actual or prospective customers; pricing and cost information; information concerning the development, engineering, design, specifications, acquisition or disposition of products
and/or services of the Company; user base personal data, programs, software and source codes, licensing information, personnel information, advertising client information, vendor information, marketing plans and techniques, forecasts, and other
trade secrets (“Confidential Information”); and (B) the direct and indirect disclosure of any such Confidential Information would place the Company at a competitive disadvantage and would do damage, monetary or otherwise, to the
Company’s business. 

  

	 	(2)	 During the Term and at all times thereafter, the Executive shall not, directly or indirectly, whether
individually, as a director, stockholder, owner, partner, employee, consultant, principal or agent of any business, or in any other capacity, publish or make known, disclose, furnish, reproduce, make available, or utilize any of the Confidential
Information without the prior express written approval of the Company, other than in the proper performance of the duties contemplated herein, unless and until such Confidential Information is or shall become general public knowledge through no
fault of the Executive. 

  

	 	(3)	 In the event that the Executive is required by law to disclose any Confidential Information, the Executive
agrees to give the Company prompt advance written notice thereof and to provide the Company with reasonable assistance in obtaining an order to protect the Confidential Information from public disclosure. 

 

	 	(4)	 The failure to mark any Confidential Information as confidential shall not affect its status as Confidential
Information under this Agreement. 

  
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	 	(c)	 Third Party Information in the Executive’s Possession. The Executive agrees that he/she shall not,
during the Term, (i) improperly use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to keep in confidence information acquired by
Executive, if any, or (ii) bring into the premises of Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer, person or entity.
The Executive will indemnify the Company and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of litigation, arising out of or in connection with any violation of
the foregoing. 

  

	 	(d)	 Third Party Information in the Company’s Possession. The Executive recognizes that the
Company may have received, and in the future may receive, from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for
certain limited purposes. The Executive agrees that the Executive owes the Company and such third parties, during the Term and thereafter, a duty to hold all such confidential or proprietary information in strict confidence and not to disclose such
information to any person or firm, or otherwise use such information, in a manner inconsistent with the limited purposes permitted by the Company’s agreement with such third party. 

This Section 8 shall survive the termination of the Agreement for any reason. In the event the Executive breaches this Section 8, the
Company shall have right to seek remedies permissible under applicable law. 
  

	9.	 INTELLECTUAL PROPERTY  

 

	 	(a)	 Prior Inventions. The Executive has attached hereto, as Schedule B, a list describing all
inventions, ideas, improvements, designs and discoveries, whether or not patentable and whether or not reduced to practice, original works of authorship and trade secrets made or conceived by or belonging to the Executive (whether made solely by the
Executive or jointly with others) that (i) were developed by Executive prior to the Executive’s employment by the Company (collectively, “Prior Inventions”), (ii) relate to the Company’ actual or proposed business,
products or research and development, and (iii) are not assigned to the Company hereunder; or, if no such list is attached, the Executive represents that there are no such Prior Inventions. Except to the extent set forth in Schedule B,
the Executive hereby acknowledges that, if in the course of his/her service for the Company, the Executive incorporates into a Company product, process or machine a Prior Invention owned by the Executive or in which he/she has an interest, the
Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide right and license (which may be freely transferred by the Company to any other person or entity) to make, have made, modify, use, sell,
sublicense and otherwise distribute such Prior Invention as part of or in connection with such product, process or machine. 

  
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	 	(b)	 Assignment of Intellectual Property. The Executive hereby assigns to the Company or its designees,
without further consideration and free and clear of any lien or encumbrance, the Executive’s entire right, title and interest (within the United States and all foreign jurisdictions) to any and all inventions, discoveries, improvements,
developments, works of authorship, concepts, ideas, plans, specifications, software, formulas, databases, designees, processes and contributions to Confidential Information created, conceived, developed or reduced to practice by the Executive (alone
or with others) during the Term which (i) are related to the Company’s current or anticipated business, activities, products, or services, (ii) result from any work performed by Executive for the Company, or (iii) are created,
conceived, developed or reduced to practice with the use of Company property, including any and all Intellectual Property Rights (as defined below) therein (“Work Product”). Any Work Product which falls within the definition of
“work made for hire”, as such term is defined in the U.S. Copyright Act, shall be considered a “work made for hire”, the copyright in which vests initially and exclusively in the Company. The Executive waives any rights to be
attributed as the author of any Work Product and any “droit morale” (moral rights) in Work Product. The Executive agrees to immediately disclose to the Company all Work Product. For purposes of this Agreement, “Intellectual
Property” shall mean any patent, copyright, trademark or service mark, trade secret, or any other proprietary rights protection legally available. 

  

	 	(c)	 Patent and Copyright Registration. The Executive agrees to execute and deliver any instruments or
documents and to do all other things reasonably requested by the Company in order to more fully vest the Company with all ownership rights in the Work Product. If any Work Product is deemed by the Company to be patentable or otherwise registrable,
the Executive shall assist the Company (at the Company’s expense) in obtaining letters of patent or other applicable registration therein and shall execute all documents and do all things, including testifying (at the Company’s expense) as
necessary or appropriate to apply for, prosecute, obtain, or enforce any Intellectual Property right relating to any Work Product. Should the Company be unable to secure the Executive’s signature on any document deemed necessary to accomplish
the foregoing, whether due to the Executive’s disability or other reason, the Executive hereby irrevocably designates and appoints the Company and each of its duly authorized officers and agents as the Executive’s agent and attorney-in-fact to act for and on the Executive’s behalf and stead to take any of the actions required of Executive under the previous sentence, with the same effect as
if executed and delivered by the Executive, such appointment being coupled with an interest. 

 This Section 9 shall
survive the termination of the Agreement for any reason. In the event the Executive breaches this Section 9, the Company shall have right to seek remedies permissible under applicable law. 

 

	10.	 CONFLICTING EMPLOYMENT  

The Executive hereby agrees that, during the Term, he/she will not engage in any other employment, occupation, consulting or other business
activity related to the business in which the Company is now involved or becomes involved during the Term, nor will the Executive engage in any other activities that conflict with his/her obligations to the Company without the prior written consent
of the Company. 

  
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	11.	 NON-COMPETITION AND
NON-SOLICITATION 

  

	 	(a)	 Non-Competition. In consideration of the compensation provided
to the Executive by the Company hereunder, the adequacy of which is hereby acknowledged by the parties hereto, the Executive agree that during the Term and for a period of one year following the termination of the Employment for whatever reason, the
Executive shall not engage in Competition (as defined below) with the Group. For purposes of this Agreement, “Competition” by the Executive shall mean the Executive’s engaging in, or otherwise directly or indirectly being employed by
or acting as a consultant or lender to, or being a director, officer, employee, principal, agent, stockholder, member, owner or partner of, or permitting the Executive’s name to be used in connection with the activities of, any other business
or organization which competes, directly or indirectly, with the Group in the Business; provided, however, it shall not be a violation of this Section 11(a) for the Executive to become the registered or beneficial owner of up to
five percent (5%) of any class of the capital stock of a publicly traded corporation in Competition with the Group, provided that the Executive does not otherwise participate in the business of such corporation. 

For purposes of this Agreement, “Business” means the operation of pre-owned consumer
electronics transactions and services platform and any other business which the Group engages in, or is preparing to become engaged in, during the Term. 
  

	 	(b)	 Non-Solicitation;
Non-Interference. During the Term and for a period of one year following the termination of the Executive’s employment for any reason, the Executive agrees that he/she will not, directly or
indirectly, for the Executive’s benefit or for the benefit of any other person or entity, do any of the following: 

  

	 	(1)	 solicit from any customer or business partner doing business with the Group during the Term business of the
same or of a similar nature to the Business; 

  

	 	(2)	 solicit from any known potential customer of the Group business of the same or of a similar nature to that
which has been the subject of a known written or oral bid, offer or proposal by the Group, or of substantial preparation with a view to making such a bid, proposal or offer; 

 

	 	(3)	 solicit the employment or services of, or hire or engage, any person who is known to be employed or engaged by
the Group; or 

  

	 	(4)	 otherwise interfere with the business or accounts of the Group, including, but not limited to, with respect to
any relationship or agreement between the Group and any vendor or supplier. 

  
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	 	(c)	 Injunctive Relief; Indemnity of Company. The Executive agrees that any breach or threatened breach of
subsections (a) and (b) of this Section 11 would result in irreparable injury and damage to the Company for which an award of money to the Company would not be an adequate remedy. The Executive therefore also agrees that in the event of
said breach or any reasonable threat of breach, the Company shall be entitled to seek an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all persons
and/or entities acting for and/or with the Executive. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including, but not limited to, remedies available
under this Agreement and the recovery of damages. The Executive and the Company further agree that the provisions of this Section 11 are reasonable. The Executive agrees to indemnify and hold harmless the Company from and against all reasonable
expenses (including reasonable fees and disbursements of counsel) which may be incurred by the Company in connection with, or arising out of, any violation of this Agreement by the Executive. This Section 11 shall survive the termination of the
Agreement for any reason. 

  

	12.	 WITHHOLDING TAXES 

Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any
amounts otherwise due or payable under or pursuant to the Agreement such national, state, provincial, local or any other income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation. 

 

	13.	 ASSIGNMENT 

The Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer the
Agreement or any rights or obligations hereunder; provided, however, that the Company may assign or transfer the Agreement or any rights or obligations hereunder to any member of the Group without such consent. If the Executive should die while any
amounts would still be payable to the Executive hereunder if the Executive had continued to live, all such amounts unless otherwise provided herein shall be paid in accordance with the terms of this Agreement to the Executive’s devisee,
legatee, or other designee or, if there be no such designee, to the Executive’s estate. The Company will require any and all successors (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the
Company to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to compensation from the Company in the same amount and on the same terms as the
Executive would be entitled to hereunder if the Company had terminated the Executive’s employment other than for Cause, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be
deemed the Date of Termination. As used in this Section 13, “Company” shall mean the Company as herein before defined and any successor to its business and/or assets as aforesaid which executes and delivers the agreement provided for
in this Section 13 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law. 

  
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	14.	 SEVERABILITY 

If any provision of the Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications
of the Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of the Agreement are declared to be severable. 
  

	15.	 ENTIRE AGREEMENT 

The Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment
and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The Executive acknowledges that he/she has not entered into the Agreement in reliance upon any representation, warranty or undertaking which is
not set forth in the Agreement. 
  

	16.	 GOVERNING LAW 

The Agreement shall be governed by and construed in accordance with the law of the State of New York, U.S.A. 

 

	17.	 AMENDMENT 

The Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly
referring to the Agreement, which agreement is executed by both of the parties hereto. 
  

	18.	 WAIVER 

Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under the Agreement shall operate as
a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or
privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have
granted such waiver. 

  
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	19.	 NOTICES 

All notices, requests, demands and other communications required or permitted under the Agreement shall be in writing and shall be deemed to
have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, (iii) sent by a recognized courier with next-day or
second-day delivery to the last known address of the other party; or (iv) sent by e-mail with confirmation of receipt. 

 

	20.	 COUNTERPARTS 

The Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument. The Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties
reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 
  

	21.	 NO INTERPRETATION AGAINST DRAFTER 

Each party recognizes that the Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult with
legal counsel of choice. In any construction of the terms of the Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such terms. 

[Remainder of the page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the Agreement has been executed as of the date first written
above. 
  

					
	 COMPANY:
	 		  	 AiHuiShou International Co. Ltd.

		 		  	 a Cayman Islands exempted company

 

		 		  	
By:                  
                                         
                              

		 		  	 Name:

		 		  	 Title:

			
	 EXECUTIVE:
	 		  	
			
		 		  	
		 		  	  

Name:

		 		  	 Address:

 Schedule A 

Cash Compensation 
  

					
	 	  	 Amount
	  	 Pay Period

	 Base Salary
	  		  	
	 Cash Bonus
	  		  	

 Schedule B 

List of Prior Inventions 
  

					
	 Title
	  	 Date
	  	 Identifying Number

or Brief Description

______ No inventions or improvements 
 ______ Additional Sheets
Attached 
 Signature of Executive: ________________ 
 Print
Name of Executive: _______________ 
 Date: ____________EX-10.5

 Exhibit 10.5 

Exclusive Technology Consulting and Management Service Agreement 

This Exclusive Technology Consulting and Management Service Agreement (this “Agreement”) is made on August 31, 2012 by
and between: 
 Party A: Shanghai Yueyee Network Information Technology Co., Ltd. 

Company Address: Rooms 1202-3, Building 2, No.335 Guoding Road, Yangpu District, Shanghai 

Legal Representative: Sun Wenjun 
 Party B: Shanghai Aihui
Trading Co., Ltd. 
 Company Address: Room 224, Building 1, No.2011 Wusi Road, Fengxian District, Shanghai 

Legal Representative: Sun Wenjun 
 WHEREAS: 

 

	1.	 Party A is a limited liability company incorporated in the territory of the People’s Republic of China
(the “PRC”) engaging in, among other things, the provision of a bidding and trading platform for sellers and recyclers of second-hand electronic products. 

 

	2.	 Party B is a wholly foreign-owned enterprise duly incorporated and validly existing in the territory of the
PRC, engaging in, among other things, the provision of services relating to the bidding and trading platform for sellers and recyclers of second-hand electronic products. 

 

	3.	 It is agreed that Party B has the exclusive right to provide Party A with technology consulting and management
services, and Party A agrees to accept such services so provided. 

 NOW THEREFORE, the Parties hereby agree as follows by mutual
agreement: 
  

	1.	 Exclusive Technology Consulting and Management Services 

 

	 	1.1	 During the term of this Agreement, Party A agrees that Party B has the exclusive right to provide Party A with
such technology consulting and management services as set out in Appendix 1 hereto. Party A also agrees that, during the term hereof, it will not accept any technology consulting and management services provided by any third party with respect to
the business mentioned above without Party B’s prior written consent. 

  
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Exclusive Technology Consulting and Management Service Agreement 

	 	1.2	 During the term of this Agreement, Party A shall, within a reasonable period of time upon determination of its
request for Party B’s technical support, furnish Party B with such request, upon receipt of which Party B shall complete the technical work product as requested within such period as agreed by the Parties and deliver to the same to Party A in
the manner agreed by the Parties. 

  

	 	1.3	 All intellectual property created as a result of the performance of this Agreement, including but not limited
to any technology and software, whether independently developed by Party B or developed by either Party using the other Party’s intellectual property, shall be the sole and exclusive property of Party B, and Party A shall not assert any right,
title, interest or intellectual property right therein or thereto against Party B. 

  

	 	1.4	 If any intellectual property is to be developed by Party B using Party A’s intellectual property, then
Party A is required to ensure such intellectual property be free from any defects, failing which Party A shall be liable for any losses caused to Party B. 

  

	2.	 Calculation and Payment of Technology Consulting and Service Fees 

 

	 	2.1	 Service Fees: It is agreed that Party B shall provide Party A with the services described herein during the
term of this Agreement, and in return, Party A shall pay to Party B service fees to be determined in such manner as set forth in the Calculation and Payment Terms of Service Fees attached hereto as Appendix 2. 

 

	 	2.2	 Party B shall have the right to appoint, at its own cost, its employees or certified public accountants in the
PRC or any other country (“Party B’s Authorized Representative”) to inspect Party A’s accounts for the purpose of auditing the calculation method and amount of service fees. In this regard, Party A shall provide Party
B’s Authorized Representative with such documents, accounts, records and data as requested thereby in order for such representative to audit Party A’s accounts and determine the amount of service fees. The amount of service fees payable by
Party A shall be determined by Party B’s Authorized Representative. Party B shall have the right to issue a service bill to Party A at any time after the issuance of an audit report by Party B’s Authorized Representative, requesting Party
A to pay any unpaid service fees. Party A shall pay for the bill within seven (7) business days upon receipt thereof. 

  
 2 

Exclusive Technology Consulting and Management Service Agreement 

	3.	 Representations and Warranties 

 

	 	3.1	 Party A hereby represents and warrants that: 

 

	 	3.1.1	 Party A is a company duly incorporated, validly existing and in good standing under the laws of the PRC.

  

	 	3.1.2	 Party A’s execution and performance of this Agreement are within the scope of its corporate power and
business, and it has taken necessary corporate actions and obtained appropriate authorization subject to such laws and contracts that are binding upon or affect it. Upon execution by Party A, this Agreement constitutes its legal, valid and binding
obligation, and is enforceable against it in accordance with the terms hereof. 

  

	 	3.2	 Party B hereby represents and warrants that: 

 

	 	3.2.1	 Party B is a company duly incorporated, validly existing and in good standing under the laws of the PRC.

  

	 	3.2.2	 The services provided by Party B do not constitute a violation of any applicable laws, regulations or
government policies. 

  

	 	3.2.3	 Party B’s execution and performance of this Agreement are within the scope of its corporate power and
business, and it has taken necessary corporate actions and obtained appropriate authorization subject to such laws and contracts that are binding upon or affect it. Upon execution by Party B, this Agreement constitutes its legal, valid and binding
obligation, and is enforceable against it in accordance with the terms hereof. 

  

	4.	 Intellectual Property and Confidentiality 

 

	 	4.1	 Party A agrees to make its best efforts to take all reasonable measures to keep confidential Party B’s
confidential materials and information (“Confidential Information”). Party A shall, upon Party B’s request, return to Party B or destroy any document, material or software incorporating Confidential Information, and delete any
Confidential Information from any relevant memory device, in which case Party A shall not continue to use such Confidential Information. Party A shall not disclose, provide or transfer any Confidential Information to any third party without Party
B’s written consent. 

  
 3 

Exclusive Technology Consulting and Management Service Agreement 

	 	4.2	 “Confidential Information” means any trade secret, proprietary information and other material and
information in any form whatsoever that belongs to Party B or any of its clients, customers, consultants, sub-licensees or affiliates and is held in confidence by Party B. Confidential Information shall
include, without limitation, computer software, Party B’s online catalogs, business plans and ideas, product development, inventions, service designs, creative designs, pictures, texts, audio and video recordings, multimedia information, client
data, market data, financial information, scientific information and any and all intellectual property or industrial property owned by Party B, as well as other information deemed or used as Confidential Information by Party B or any of its clients,
customers, consultants, sub-licensees or affiliates. Notwithstanding the foregoing, Confidential Information shall not include any information freely disclosed by any associated company to the public or otherwise made generally available to the
public. 

  

	 	4.3	 It is agreed that, notwithstanding any modification, rescission or termination of this Agreement, this Article
shall remain in force and effect. 

  

	 	4.4	 Party A covenants that, if it commits a breach of the preceding provisions, it shall indemnify Party B against
any financial losses caused thereto. 

  

	5.	 Indemnification 

  

	 	5.1	 Unless otherwise set forth herein, in the event that Party A fails or suspends to perform all of its
obligations hereunder, and fails to correct such behavior within thirty (30) days after receipt of Party B’s notice, or that any of Party A’s representations or warranties is untrue, Party A shall be deemed to have committed a default
hereunder. 

  

	 	5.2	 Party A shall be fully liable for any claim made by any person as a result of Party A’s failure to obey
Party B’s instructions or its improper use of Party B’s intellectual property or improper technical operations. 

  

	 	5.3	 Party B shall indemnify and hold harmless Party A from and against any losses, damages, obligations and
expenses resulting from any lawsuit, claim or other demand against Party A caused by or arising out of the provision of Party B’s services. 

  

	 	5.4	 Party A shall indemnify and hold harmless Party B from and against any losses, damages, obligations and
expenses resulting from any lawsuit, claim or other demand against Party B caused by or arising out of Party A’s request. 

  
 4 

Exclusive Technology Consulting and Management Service Agreement 

	 	5.5	 In the event that Party A fails to pay to Party B the service fees at such time and in such manner as agreed by
the Parties, for each day of delay, Party A shall pay to Party B liquidated damages in an amount equal to 0.05% of the late payment as described in the Calculation and Payment Terms of Service Fees attached hereto. 

 

	6.	 Effectiveness 

  

	 	6.1	 This Agreement shall be executed and take effect as of the date first written above. The term of this Agreement
shall be ten (10) years, unless earlier terminated by Party B. Prior to the expiration of the term of this Agreement, the Parties shall, upon Party B’s request, extend this Agreement for further performance hereof or otherwise enter into a
new exclusive technology consulting and management service agreement. 

  

	7.	 Termination 

  

	 	7.1	 Party A shall not terminate this Agreement during the term hereof, otherwise Party A shall indemnify Party B
against all losses caused thereto and pay for the services that have been performed by Party B. Party B shall have the right to terminate this Agreement at any time by giving thirty (30) days’ prior written notice to Party A.

  

	 	7.2	 Survival: All rights and obligations of the Parties under Articles 4, 5 and 8 hereof shall survive the
termination of this Agreement. 

  

	8.	 Governing Law and Dispute Resolution 

 

	 	8.1	 The conclusion, validity, interpretation and performance of this Agreement shall be governed by the laws of the
PRC. 

  

	 	8.2	 Any and all disputes between the Parties arising from the interpretation and performance of the provisions
hereof shall be resolved by the Parties through negotiations in good faith. Should such negotiations fail, either Party may refer the dispute to Shanghai Arbitration Commission for arbitration in accordance with its arbitration rules then in effect.
The arbitration proceedings shall be conducted in Chinese. The arbitral award shall be final and binding upon the Parties. 

  

	9.	 Force Majeure 

  

	 	9.1	 If and when the performance of this Agreement is delayed or hindered by reason of any “force majeure
event”, the Party affected by force majeure shall be exempted from any liability hereunder only for such delay or hindrance. “Force majeure event” means any event beyond the reasonable control of a Party that cannot be avoided by such
Party with reasonable care, including but not limited to government actions, acts of nature, fire, explosion, geographical changes, storm, flood, earthquake, tide, lightning or war; provided, however, that lack of credit, funds or financing shall
not be deemed to have gone beyond the reasonable control of a Party. The Party affected by “force majeure event” who seeks exemption from performance of this Agreement or any provision hereof shall, as soon as practicable, notify the other
Party of such exemption and all necessary measures to be taken for such performance. 

  
 5 

Exclusive Technology Consulting and Management Service Agreement 

	 	9.2	 The Party affected by force majeure shall be exempted from any liability hereunder for such force majeure;
provided, however, that the affected Party who seeks exemption from any liability may be exempted from liability only to the extent that it has made its reasonably practicable efforts to perform this Agreement, which exemption shall be solely
applicable to the performance delayed or hindered by force majeure. The Parties agree to make their best efforts to resume the performance hereof as soon as the cause for such exemption is rectified and remedied. 

 

	10.	 Transfer 

  

	 	10.1	 Without Party B’s prior written consent, Party A shall not transfer to any third party any of its rights
and obligations hereunder. 

  

	 	10.2	 Party B may transfer its rights and obligations to any of its affiliates hereunder. For the purposes hereof,
“affiliate” mentioned above means an entity is controlled by, controls or is under common control with Party B. For the purposes of this Article, “control” means the possession, direct or indirect, of the power to determine
and/or direct the other Party’s operations and management, whether through ownership of equity in or agreement with the controlled entity. Party B shall notify Party A in writing of such transfer by giving at least twenty (20) days’
prior written notice to Party A. 

  

	11.	 Severability 

If any provision hereof is invalid or unenforceable due to non-compliance with applicable laws, then
such provision shall be deemed invalid only to the extent that applicable laws apply, and shall not affect the validity and enforceability of the remaining provisions hereof. 

  
 6 

Exclusive Technology Consulting and Management Service Agreement 

	12.	 Amendment and Supplement 

Any amendment or supplement to or extension of this Agreement may be made in writing by the Parties. Any amendment or supplemental agreement
duly signed by the Parties with respect to this Agreement shall form an integral part hereof, and shall have the same legal force and effect as this Agreement. 
  

	13.	 This Agreement is executed in two (2) originals, with each Party holding one (1) original, and each
original having the same legal effect. 

 IN WITNESS WHEREOF, the Parties have caused their respective authorized representatives to
execute this Agreement as of the date first written above. 
 (The remainder of this page is intentionally left blank) 

  
 7 

Exclusive Technology Consulting and Management Service Agreement 

 (This is a signature page to the Exclusive Technology Consulting and Management Service
Agreement) 
  

									
	 Party A: Shanghai Yueyee Network Information Technology Co., Ltd. (Seal)
	  		 	 Party B: Shanghai Aihui Trading Co., Ltd. (Seal)

			
	 /s/ Shanghai Yueyee Network Information Technology Co., Ltd.
	  		 	 /s/ Shanghai Aihui Trading Co., Ltd.

					
	 Legal Representative (or Authorized Representative):
	 	 /s/ Sun Wenjun
	  		 	 Legal Representative (or Authorized Representative):
	 	 /s/ Sun Wenjun

		 	Sun Wenjun	  		 		 	Sun Wenjun

  
 Signature Page 

Exclusive Technology Consulting and Management Service Agreement 

 Appendix 1 

List of Technology Consulting and Services 

1) Software development and maintenance; 
 2) Internet technical
support; 
 3) Database and network security services; 
 4)
Other technical consulting and services. 

  
 Appendix 1 

Exclusive Technology Consulting and Management Service Agreement 

 Appendix 2 

Calculation and Payment Terms of Service Fees 

It is agreed to calculate fees for the services provided by Party B under Article 1 hereof in the following manner: 

 

	1.	 The service fees hereunder shall be settled quarterly based on the costs and expenses incurred by and between
the Parties and Party A’s operating condition and in accordance with normal pricing principles applied among independent entities, and shall be paid by Party A to Party B on a quarterly or annual basis upon Party A’s request.

  

	2.	 It is acknowledged that a business tax shall be levied on the service fees at the rate of 5%.

  
 Appendix 2 

Exclusive Technology Consulting and Management Service Agreement

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