Document:

Exhibit 10.5

 

AMENDED AND RESTATED

CALL OPTION AGREEMENT

 

This AMENDED AND RESTATED CALL OPTION AGREEMENT
(this “Agreement”) is made and entered into as of December 17, 2014 (the “Effective Date”),
between Jia Zhi Hong and Zhao Bin, residents of the People’s Republic of China (the "Purchaser" or “Purchasers”)
and Huo Yong Lin, a resident of Hong Kong Special Administration Region (the “Seller”). Purchasers and Seller
are also referred to herein together as the “Parties” and individually as a “Party”.

 

RECITALS

 

WHEREAS, pursuant to a Reverse Acquisition
Agreement by and among ActiveWorlds Corp., a company incorporated under the laws of the State of Delaware, whose shares trade on
the OTC Bulletin Board under the symbol AWLD (the “ActiveWorlds”), Dragon Lead Group Limited, a British Virgin
Islands company (the "Dragon Lead") and its shareholders, among which Famous Grow Holdings Limited, a British
Virgin Island company wholly owned by the Seller is the single largest shareholder ("Famous Grow" or the “Company”),
ActiveWorlds is expected to acquire 100% of the issued and outstanding capital stock of Dragon Lead and issue new shares to Famous
Grow and other Dragon Lead shareholders (the “Reverse Acquisition Agreement”);

 

WHEREAS, Purchasers have agreed
with Seller, as an inducement to the Purchasers to be the shareholders of the Company. 

WHEREAS, Seller is the sole holder
of the Famous Grow’s issued shares (“Company Shares”), and has determined that it is in her best interest
to receive benefits from Purchasers’ performance as senior management of Wuhan Kingold and the Group and will enter into
the Reverse Acquisition Agreement based on the possibility of obtaining such benefits;

 

WHEREAS, upon the closing of the
Reverse Acquisition Agreement, Famous Grow will be issued and hold 15,925,943 shares of common stock of ActiveWorlds, $0.001 par
value per share;

 

WHEREAS, Seller agrees to [deposit
all her Company Shares to a make good escrow agent and] grant to Purchasers certain call rights to acquire up to 100 percent of
the Company Shares pursuant to the terms and conditions set forth herein (“Call Right”);

 

NOW, THEREFORE, the Parties, in
consideration of the foregoing premises and the terms, covenants and conditions set forth below, receipt of which is acknowledged,
hereby agree as follows:

 

AGREEMENT

 

1.  DEFINITIONS; INTERPRETATION

 

1.1. Terms Defined in this Agreement.
The following terms when used in this Agreement shall have the following definitions:

 

     

     

    

 

“Bankruptcy Law” means
any Law of any jurisdiction relating to bankruptcy, insolvency, corporate reorganization, company arrangement, civil rehabilitation,
special liquidation, moratorium, readjustment of debt, appointment of a conservator, trustee or receiver, or similar debtor relief.

 

“Business Day” means
any day on which commercial banks are required to be open in the United States.

  

“Call Price” means,
with respect to any exercise of the Call Right, par value or $0.001 per share of the Company Shares subject to any Call Exercise
Notice.

 

“Government Authority”
means any: (a) nation, principality, state, commonwealth, province, territory, county, municipality, district or other jurisdiction
of any nature; (b) federal, state, local, municipal, foreign or other government; (c) governmental or quasi governmental authority
of any nature (including any governmental division, subdivision, department, agency, bureau, branch, office, commission, council,
board, instrumentality, officer, official, representative, organization, unit, body or Person and any court or other tribunal);
or (d) individual, Person or body exercising, or entitled to exercise, any executive, legislative, judicial, administrative, regulatory,
police, military or taxing authority or power of any nature.

 

“Law” means any federal,
state, local, municipal, foreign or other law, statute, legislation, constitution, principle of common law, resolution, ordinance,
code, order, edict, decree, proclamation, treaty, convention, rule, regulation, permit, ruling, directive, pronouncement, requirement
(licensing or otherwise), specification, determination, decision, opinion or interpretation that is, has been or may in the future
be issued, enacted, adopted, passed, approved, promulgated, made, implemented or otherwise put into effect by or under the authority
of any Government Authority.

 

“Person” means any individual,
firm, company, corporation, limited liability company, unincorporated association, partnership, trust, joint venture, governmental
authority or other entity, and shall include any successor (by merger or otherwise) of such entity.

 

1.2. Interpretation.

 

(a) Certain
Terms. The words “hereof,” “herein,” “hereunder” and similar words refer to this Agreement
as a whole and not to any particular provision of this Agreement. The term “including” is not limited and means “including
without limitation.”

 

(b) Section References;
Titles and Subtitles. Unless otherwise noted, all references to Sections herein are to Sections of this Agreement. The titles,
captions and headings of this Agreement are inserted for convenience of reference only and are not intended to be a part of or
to affect the meaning or interpretation of this Agreement.

 

(c) Reference
to Entities, Agreements, Statutes. Unless otherwise expressly provided herein, (i) references to a Person include its
successors and permitted assigns, (ii) references to agreements (including this Agreement) and other contractual instruments
shall be deemed to include all subsequent amendments, restatements and other modifications thereto or supplements thereof and (iii) references
to any statute or regulation are to be construed as including all statutory and regulatory provisions consolidating, amending,
replacing, supplementing or interpreting such statute or regulation.

 

2.  CALL RIGHT

 

2.1. Call Right. Purchaser
shall have, during the Exercise Period (as defined below), the right and option to purchase from the Seller, and upon the exercise
of such right and option the Seller shall have the obligation to sell to Purchasers, a portion of the Company Shares identified
in the Call Exercise Notice. Purchaser shall be permitted to purchase, and seller shall be obligated to sell the total number of
6,227 of Company Shares with time passing.

 

    2 

     

    

 

2.2. Call Period. The Call
Right shall be exercisable by Purchasers, by delivering a Call Exercise Notice at any time during the period (the “Exercise
Period”) commencing on the day that shall be 30 days subsequent to the date that the Reverse Acquisition is closed and
ending at 6:30 p.m. (New York time) on the fifth anniversary date therefrom (such date or the earlier expiration of the Call Right
is referred to herein as the “Expiration Date”).

 

2.3. Exercise Process. In order
to exercise the Call Right during the Exercise Period, the Purchasers shall deliver to the Seller, a written notice of such exercise
substantially in the form attached hereto as Appendix A (a “Call Exercise Notice”) to such
address or facsimile number set forth therein. The Call Exercise Notice shall indicate the number of Company Shares as to which
Purchaser is then exercising its Call Right and the aggregate Call Price. Provided the Call Exercise Notice is delivered in accordance
with Section 6.4 to such Seller on or prior to 6:30 p.m. (New York time) on a Business Day, the date of exercise (the “Exercise
Date”) of the Call Right shall be the date of such delivery of such Call Exercise Notice. In the event the Call Exercise
Notice is delivered after 6:30 p.m. (New York time) on any day or on a date which is not a Business Day, the Exercise Date shall
be deemed to be the first Business Day after the date of such delivery of such Call Exercise Notice. The delivery of a Call Exercise
Notice in accordance herewith shall constitute a binding obligation (a) on the part of such Purchaser to purchase, and (b) on the
part of the Seller to sell, the Company Shares subject to such Call Exercise Notice in accordance with the terms of this Agreement.

 

2.4. Call Price. If the Call
Right is exercised pursuant to this Section 2, as payment for the Company Shares being purchased by the Purchasers pursuant to
the Call Right, such Purchaser shall pay the aggregate Call Price to the Seller (but no later than fifteen (15) Business Days of
the Exercise Date).

 

2.5 Delivery of the Shares.
Upon the receipt of a Call Exercise Notice, the Seller shall deliver, or take all steps necessary to cause to be delivered, the
Company Shares being purchased pursuant to such Call Exercise Notice.

 

3. ENCUMBRANCES; TRANSFERS, SET-OFF
AND WITHHOLDINGS

 

3.1.Encumbrances. Upon exercise
of the Call Right, the Company Shares being purchased shall be sold, transferred and delivered to the Purchaser free and clear
of any claim, pledge, charge, lien, preemptive rights, restrictions on transfers (except as required by securities laws of the
United States), proxies, voting agreements and any other encumbrance whatsoever.

 

3.2 Transfers. Prior to the
Expiration Date, Seller shall continue to own, free and clear of any hypothecation, pledge, mortgage or other encumbrance, except
pursuant to this Agreement and except in favor of the Collateral Agent (as defined below) for the benefit of the Purchaser, such
amount of the Company Shares as may be required from time to time to in order for the Purchaser to exercise its Call Right in full.

 

3.3.  Set-off. The Purchaser
shall be absolutely entitled to receive all Company Shares subject to the exercise of a Call Right, and for the purposes of this
Agreement, Seller hereby waives, as against the Purchaser, all rights of set-off or counterclaim that would or might otherwise
be available to the Seller.

 

3.4 Escrow of Company Shares.

 

(a) Upon execution of this
Agreement, Seller shall deliver to Mr. Huang Yi, as Collateral Agent (the “Collateral Agent”), certificates
representing Company Shares and its ActiveWorlds Common Stocks. The certificates representing the Company Shares (together with
duly executed stock powers in blank) or its ActiveWorlds Common Stocks shall be held by the Collateral Agent.

 

(b) Upon receipt of a Call
Exercise Notice, the Collateral Agent shall promptly deliver the Company Shares being purchased pursuant to such Call Exercise
Notice in accordance with the instructions set forth therein and in accordance with any other Lock-Up or Make Good Agreement in
place between the Purchasers or Seller and other third party.

 

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4.  REPRESENTATIONS AND WARRANTIES.

 

4.1. Representations and Warranties
by Seller. Seller represents and warrants to Purchaser that:

 

(a)Due Authorization. The
execution and delivery of this Agreement and the consummation of the transactions contemplated hereunder to be carried out by it
have been duly authorized by all necessary action on the part of Seller. This Agreement, and all agreements and documents executed
and delivered pursuant to this Agreement, constitute valid and binding obligations of such Seller, enforceable against such Seller
in accordance with its terms, subject to applicable Bankruptcy Laws and other laws or equitable principles of general application
affecting the rights of creditors generally.

 

(b)No Conflicts. Neither
the execution or delivery of this Agreement by the Seller nor the fulfillment or compliance by the Seller with any of the terms
hereof shall, with or without the giving of notice and/or the passage of time, (i) conflict with, or result in a breach of the
terms, conditions or provisions of, or constitute a default under, (A) the organizational or charter documents of the Seller or
(B) any contract or any judgment, decree or order to which Seller is subject or by which the Seller is bound, or (ii) require any
consent, license, permit, authorization, approval or other action by any Person or Government Authority which has not yet been
obtained or received. The execution, delivery and performance of this Agreement by the Seller or compliance with the provisions
hereof by the Seller does not, and shall not, violate any provision of any Law to which the Seller is subject or by which it is
bound.

 

(c)No Actions. There are
no lawsuits, actions (or to the best knowledge of the Seller, investigations), claims or demands or other proceedings pending or,
to the best of the knowledge of the Seller, threatened against the Seller which, if resolved in a manner adverse to the Seller,
would adversely affect the right or ability of the Seller to carry out its obligations set forth in this Agreement.

 

(d)Title. Seller owns the
Company Shares free and clear of any claim, pledge, charge, lien, preemptive rights, restrictions on transfers, proxies, voting
agreements and any other encumbrance whatsoever, except as contemplated by this Agreement. The Seller has not entered into or is
a party to any agreement that would cause the Seller to not own such Company Shares free and clear of any encumbrance, except as
contemplated by this Agreement.

 

4.2 Representations and Warranties
by Purchaser. The Purchaser represents and warrants to the Seller that:

 

(a)Due Authorization. The
execution and delivery of this Agreement and the consummation of the transactions contemplated hereunder to be carried out by it
have been duly authorized by all necessary action on the part of the Purchaser. This Agreement, and all agreements and documents
executed and delivered pursuant to this Agreement, constitute valid and binding obligations of Purchaser, enforceable against Purchaser
in accordance with its terms, subject to applicable Bankruptcy Laws and other laws or equitable principles of general application
affecting the rights of creditors generally.

 

(b)No Conflicts. Neither
the execution or delivery of this Agreement by Purchaser nor the fulfillment or compliance by Purchaser with any of the terms hereof
shall, with or without the giving of notice and/or the passage of time, (i) conflict with, or result in a breach of the terms,
conditions or provisions of, or constitute a default under, (A) the organizational or charter documents of Purchaser or (B) any
contract or any judgment, decree or order to which Purchaser is subject or by which Purchaser is bound, or (ii) require any consent,
license, permit, authorization, approval or other action by any Person or Government Authority which has not yet been obtained
or received. The execution, delivery and performance of this Agreement by Purchaser or compliance with the provisions hereof by
Purchaser does not, and shall not, violate any provision of any Law to which Purchaser is subject or by which it is bound.

 

    4 

     

    

 

(c)No Actions. There are
no lawsuits, actions (or to the best knowledge of Purchaser, investigations), claims or demands or other proceedings pending or,
to the best of the knowledge of Purchaser, threatened against Purchaser which, if resolved in a manner adverse to Purchaser, would
adversely affect the right or ability of Purchaser to carry out its obligations set forth in this Agreement.

 

5. EVENTS OF DEFAULT AND TERMINATION

 

5.1 Events of Default. The
occurrence at any time with respect to a Party (the “Defaulting Party”) of any of the following events shall
constitute an event of default (an “Event of Default”) with respect to such party:

 

(a)Failure to Pay or Deliver.
The failure by a Party to make, when due, any payment under this Agreement or deliver the Company Shares in accordance with this
Agreement, if such failure is not remedied on or before the third Business Day after notice of such failure is given to the Defaulting
Party;

 

(b)Breach of Agreement.
The failure by a Party to comply with or perform any agreement, covenant or obligation (other than a failure described in Section
5.1(a)) to be complied with or performed by such Party in accordance with this Agreement if such failure is not remedied on or
before the tenth Business Day after notice of such failure is given to the Defaulting Party; or

 

(c)Bankruptcy. A Party (1)
is dissolved (other than pursuant to a consolidation, amalgamation or merger); (2) becomes insolvent or is unable to pay its debts
or fails or admits in writing its inability generally to pay its debts as they become due; (3) makes a general assignment, arrangement
or composition with or for the benefit of its creditors; (4) institutes or has instituted against it a proceeding seeking a judgment
of insolvency or bankruptcy or any relief under any Bankruptcy Law, or a petition is presented for its winding-up or liquidation,
and in the case of any such proceeding or petition instituted or presented against it, such proceeding or petition (A) results
in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation
or (B) is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof;
(5) has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation
or merger); (6) seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver,
trustee, custodian or other similar official for it or for all or substantially all it assets; (7) has a secured party take possession
of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced
or sued on or against all or substantially all its assets and such secured party maintains possession, or any such process is not
dismissed, discharged, stayed or rescinded, in each case within 30 days thereafter; (8) causes or is subject to any event with
respect to it which, under the applicable Law, has an analogous effect to any of the events described in clauses (1) through (7);
or (9) takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing
acts.

 

5.2 Termination. If at any
time an Event of Default with respect to a Party has occurred and is continuing, the other party may terminate this Agreement and
deem the Expiration Date to have occurred by giving written notice to the Defaulting Party specifying the relevant Event of Default.

 

6.  MISCELLANEOUS.

 

6.1. Governing Law; Jurisdiction.
This Agreement shall be construed according to, and the rights of the Parties shall be governed by, the laws of the State of New
York, without reference to any conflict of laws principle that would cause the application of the laws of any jurisdiction other
than New York. Each Party hereby irrevocably submits to the exclusive jurisdiction of the federal and state courts sitting in the
City of New York, for the adjudication of any dispute hereunder or in connection herewith, and agrees not to assert in any suit,
action or proceeding, any claim that it is not personally subject to the jurisdiction of such court, that such, suit, action or
proceeding is brought in an inconvenient forum, or that the venue of such suit, action or proceeding is improper.

 

    5 

     

    

 

6.2. Successors and Assigns.
No Party may assign this Agreement or any rights or obligations hereunder without the prior written consent of the other Party.
The provisions hereof shall inure to the benefit of, and be binding upon, the successors and permitted assigns of the Parties.

 

6.3. Entire Agreement; Amendment.
This Agreement constitutes the full and entire understanding and agreement between and among the Parties with regard to the subject
matter hereof. Any term of this Agreement may be amended only with the written consent of each Party.

 

6.4. Notices and Other Communications.
Any and all notices, requests, demands and other communications required or otherwise contemplated to be made under this Agreement
shall be in writing and shall be provided by one or more of the following means and shall be deemed to have been duly given (a) if
delivered personally, when received, (b) if transmitted by facsimile, on the date of transmission with receipt of a transmittal
confirmation, or (c) if by an internationally recognized overnight courier service, one Business Day after deposit with such
courier service. All such notices, requests, demands and other communications shall be addressed to such address or facsimile number
as a party may have specified to the other parties in writing delivered in accordance with this Section 6.4.

 

6.5. Delays or Omissions. No
delay or omission to exercise any right, power or remedy accruing to any Person hereunder, upon any breach or default under this
Agreement, shall impair any such right, power or remedy nor shall it be construed to be a waiver of any such breach or default,
or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single
breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent
or approval of any kind or character on the part of any Person hereunder of any breach or default under this Agreement, or any
waiver on the part of any Person of any provisions or conditions of this Agreement, must be in writing and shall be effective only
to the extent specifically set forth in such writing and signed by the waiving or consenting Person.

 

6.6. Severability. If any provision
of this Agreement is found to be invalid or unenforceable, then such provision shall be construed, to the extent feasible, so as
to render the provision enforceable and to provide for the consummation of the transactions contemplated hereby on substantially
the same terms as originally set forth herein, and if no feasible interpretation would save such provision, it shall be severed
from the remainder of this Agreement, which shall remain in full force and effect unless the severed provision is essential to
the rights or benefits intended by the Parties. In such event, the Parties shall use best efforts to negotiate, in good faith,
a substitute, valid and enforceable provision or agreement which most nearly affects the Parties’ intent in entering into
this Agreement.

 

6.7 Construction. The language
used in this Agreement will be deemed to be the language chosen by the Parties to express their mutual intent, and no rules of
strict construction will be applied against any Party.

 

6.8. Further Assurances. The
Parties shall perform such acts, execute and deliver such instruments and documents and do all other such things as may be reasonably
necessary to effect the transactions contemplated hereby.

 

6.9. Counterparts. This Agreement
may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one
instrument. Execution and delivery of this Agreement by exchange of facsimile copies bearing the facsimile signature of a Party
shall constitute a valid and binding execution and delivery of this Agreement by such Party.

 

[remainder of
page intentionally blank]

 

    6 

     

    

 

Signature Page 

 

IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the date first written above.

 

	 	 	Purchaser:
	 	 	 
	 	 	/s/ Jia Zhi Hong

 

	 	 	Purchaser:
	 	 	 
	 	 	/s/ Zhao Bin

 

	 	 	Seller:
	 	 	 
	 	 	/s/ Huo Yong Lin

 

Acknowledged and agreed to:

 

	
        Collateral Agent:

        ________________, as Collateral Agent
	 	 	 
	 	 	 	 
	 	 	 	 
	By: /s/ Yi
    Huang	 	 	 
	

        Name:
	 	 	 

 

    7Exhibit 10.6 

 

Amendment to Amended and Restated Call
Option Agreement

 

This amendment to AMENDED AND RESTATED
CALL OPTION AGREEMENT (this “Amendment”) is made and entered into as of March 26, 2016 (the “Effective Date”),
between Jia Zhi Hong and Zhao Bin, residents of the People’s Republic of China and Huo Yong Lin, a resident of Hong Kong
Special Administration Region (referred to herein together as the “Parties” and individually as a “Party”).

 

RECITALS

 

WHEREAS, Zhao Bin and Jia Zhi Hong as the
Purchasers and Huo Yong Lin as the Seller entered the AMENDED AND RESTATED CALL OPTION AGREEMENT on December 17, 2014;

 

WHEREAS, Zhao Bin has not served as general
manager of either Wuhan Kingold Jewelry Company Limited or any related company anymore;

 

WHEREAS, Article 2.2 of the AMENDED AND
RESTATED CALL OPTION AGREEMENT provides that the “The Call Right shall be exercisable by Purchasers, by delivering a Call
Exercise Notice at any time during the period (the “Exercise Period”) commencing on the day that shall be 30 days subsequent
to the date that the Reverse Acquisition is closed and ending at 6:30 p.m. (New York time) on the fifth anniversary date therefrom
(such date or the earlier expiration of the Call Right is referred to herein as the “Expiration Date”).”

 

WHEREAS, although the Exercise Period has
passed, Parties have continuously intended that the Exercise Period should remain open, and further desire to ratify such Exercise
Period, to extend it for another five-year period and to keep the effectiveness of the AMENDED AND RESTATED CALL OPTION AGREEMENT
accordingly.

 

AGREEMENT

 

	 	1.	Parties agree that Zhao Bin has ceased to be a party of the AMENDED AND RESTATED CALL OPTION AGREEMENT, as amended.

 

	 	2.	The Exercise Period is extended for another five years, and the Expiration Date is extended accordingly.

 

	 	3.	This Amendment is effective as of March 26, 2016.

 

[End of Amendment – Signature Page
Follows]

 

     

     

    

 

Signature Page

  

IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the date first written above.

 

	 	 	/s/ Zhao Bin
	 	 	Zhao Bin
	 	 	 
	 	 	/s/ Jia Zhi Hong
	 	 	Jia Zhi Hong
	 	 	 
	 	 	/s/ Huo Yong Lin
	 	 	Huo Yong Lin
	 	 	 
	Acknowledged and agreed to:	 	 
	Yi Huang, as Collateral Agent	 	 
	By: 	/s/ Yi Huang

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