Document:

Exhibit 10.2

 

Benefactum
Alliance Business Consultant (Beijing) Co., Ltd.

Entrusted
Loan Guarantee Contract

No.:

 

Guarantor:
See the signature page of this contract.

Creditor:
See the signature page of this contract.

(For
details, see the first clause of Annex I of this contract)

 

To
guarantee the performance of the debt under the “Main Contract” referenced in Article 1 of this contract, the Guarantor
is willing to provide guarantee to the Creditor. The parties have entered into this contract through equal negotiation. Unless
otherwise agreed herein, the terms of this contract shall be determined according to the Main Contract.

 

Article
1      Main Contract

 

The
Main Contract information is shown in Clause 2 of Annex I at end of this contract.

 

Article
2      Principal Debt

 

The
debt under the Main Contract constitutes the principal debt of this contract, including the principal and interest (including
interest, compound interest and default interest), default penalty, damage remedy, expenses for Creditor rights redemption (including
but not limited to lawsuit fee, attorney’s fee, notary fee and execution fee etc.), Creditor’s losses caused by borrower
default and all other payable expenses.

 

Article
3      Scope of Guarantee

 

The
guarantee scope is specified in Clause 3 of Annex I of this contract.

 

Article
4      Guaranty Liability

 

If
the borrower fails to repay the debt under the Main Contract terms in a timely manner, the Creditor shall have the right to require
the Guarantor perform the guaranty liability in accordance with the provisions of the contract.

 

If
the principal debt has other collaterals or guarantees in addition to this contract, any of the Creditor’s rights under this contract
and their fulfillment shall not be affected.

 

Article
5      Term of Guarantee 

 

The
guarantee period of this contract shall be two years after expiration of the performance period of the Principal Debt.

 

    

     

    

 

If
the principal debt is fulfilled in stages, the guarantee period shall start from the effective date of this contract until
two years after the expiration of the performance period for the last stage of debt fulfillment.

 

Article
6      Relationship between the Main Contract and this contract

 

The
Guarantor shall still be liable for the debts already incurred under the Main Contract when parties of the Main Contract terminate
the Main Contract or have the Main contract expire before its due date.

 

The
parties of the Main Contract may agree to modify the Main Contract without the consent of the Guarantor, except for modifications
that involve the changes in currency, interest rate, amount and term, or other changes that may increase the amount of the principal
debt or extend the term of the Main Contract. The Guarantor shall still undertake the liability of guarantee for the modified
Main Contract. However, change of interest rate due to adjustment of national interest rate policy does not require the consent
of the Guarantor.

 

Under
the circumstances when the consent of the Guarantor is required for any change, if the written consent of the Guarantor is not
obtained or the Guarantor refuses, the Guarantor shall not be liable for the increase in the amount of the Principal Debt, and
term of guarantee shall be the original period even if the term of the Main Contract is extended.

 

Article
7      Guarantee and Commitment

 

1.
The Guarantor has the full capacities for civil rights and action required to sign and perform the contract.

 

2.
All documents, materials and vouchers provided by the Guarantor to the Creditor are accurate, true, complete and valid.

 

3.
The Guarantor does not conceal to the Creditor any major liabilities it has assumed and guarantees it has provided to others when
signing this contract.  

 

4.
The Guarantor promises that: if the Guarantor is a third party and a company, when providing this guarantee, it has been approved
by its board of directors, shareholders’ meeting and the resolutions of the shareholders’ meeting in accordance with the provisions
of laws, regulations, regulatory requirements and articles of incorporation. If the company’s articles of incorporation contain
a limit on the total amount of guarantee and the amount of a single guarantee, the guarantee under this contract does not exceed
the prescribed limits.

 

5.
Signing and performing this contract does not violate any contracts, agreements or other legal documents that are binding to the
Guarantor. The Guarantor has obtained or will obtain all the necessary approval, permission, filing or registration required for
this guarantee.

 

    

     

    

 

Article
8      Default events and remedy

 

1.
Any of the following events constitutes or shall be deemed as Guarantor default under this contract:

 

(1)
Failure to perform the liability of guarantee timely according to the provisions of this contract.

 

(2)
Occurrence of events which may affect the Guarantor’s financial status and performance capability, including but not limited
to involvement in significant lawsuits or arbitration cases or assumption of major liabilities, which have seriously affected
the financial status and performance capability of the Guarantor.

 

(3)
Termination of business, dissolution, revocation, or bankruptcy of the Guarantor as an enterprise.

 

(4)
Violation of other provisions about the rights and obligations of the parties.

 

(5)
The Guarantor is in breach of other contracts it signed with the Creditor or other institutions associated with the Creditor.

 

2.
In the event of a default case specified in the preceding paragraph, the Creditor shall have the right to take the following measures
separately or simultaneously according to the specific situation:

 

(1)
To require the Guarantor correct its default within a specified time limit.

 

(2)
To suspend or terminate accepting all or part of the Guarantor’s business application under other contracts. To suspend
or terminate issuing and processing all or part of unissued loans and trade financings not yet processed.

 

(3)
To declare expiration of all or part of the principal and interest of the Guarantor’s unpaid loans/trade financings and
other payables under other contracts.

 

(4)
To terminate or cancel this contract; to terminate or cancel all or part of other contracts signed between the Guarantor and the
Creditor.

 

(5)
To require the Guarantor to compensate the Creditor for the loss caused by the Guarantor’s breach of contract, including
the expenses of attorney’s fee, lawsuit fee and other expenses related to fulfillment of Creditor’s rights.

 

(6)
Other measures that the Creditor deems necessary.

 

    

     

    

 

Article
9      Dispute resolution

 

All
arguments and disputes arising from the performance of this contract shall be first settled through bilateral negotiation. If
negotiation fails, the parties agree to adopt the same dispute resolution as agreed upon in the Main Contract.

 

During
the dispute settlement, if the dispute does not affect the performance of other provisions of this contract, these other provisions
shall continue to be performed.

 

Article
10      Others

 

1.
In the performance of this contract, the Guarantor may provide the Creditor with relevant information about the Guarantor, which
the Creditor may not obtain through public sources. Such information shall constitute confidential information of the Guarantor.
Except the following circumstances, the Creditor shall not disclose the confidential information to any third party:

 

(1)
Written consent or authorization by the Guarantor;

 

(2)
The Creditor is obliged to disclose according to relevant laws and regulations or required by competent authorities such as the
judicial or administrative authorities.

 

(3)
When needed by tax, audit, legal services or during performing this contract, the Creditor discloses the information to an intermediary
agent or other third parties who bear the same confidentiality obligations.

 

Disclosure
under the above circumstances may give a third party access to confidential information of the Guarantor and to provide services
to the Guarantor according to law or to take actions that may involve the Guarantor.

 

2.
The Guarantor’s place of residence and telephone number specified in this contract are for communication and contact under
this contract, to which all statement of accounts, collection notice and legal and litigation documents relating to the loan under
the Main Contract shall be sent. The Guarantor undertakes to notify the Creditor in a timely manner of any changes in communication
and contact information. Otherwise, all documents delivered by the Creditor according to the contact information specified in
this contract shall be deemed as effectively served and the relevant economic and legal liabilities arising therefrom shall be
borne by the Guarantor.

 

3.
Other agreements:

 

Article
11      Annexes

 

The
following annexes and other annexes confirmed by both parties constitute an integral part of this contract and have the same legal
effect as this contract.

 

Annex
I:      Special terms

 

The
parties of this contract confirm that the signature or seal of the parties hereto on this contract shall be deemed as acknowledgement
of the annexes to this contract. Unless required by the Creditor, the Guarantor need not to sign or seal on “Annex I: Special
Terms” separately.

 

    

     

    

 

Article
12      Authorization for credit information

 

1.
The Guarantor authorizes that under the following circumstances, the Creditor may check the credit report of the Guarantor through
the financial credit information database:

 

(1)When
reviewing the Guarantor’s application for guarantee;

 

(2)When
conducting post-loan management for the loans or guarantees under the Guarantor’s name;

 

(3)When
accepting a loan application from a legal entity or other organizations, or when the Creditor as a Guarantor needs to look up
credit status of the Guarantor as a legal representative or financier.

 

The
Guarantor also authorizes that the Creditor can submit the Guarantor’s credit information to the financial credit information
database.

 

2.
The Guarantor declares that: I fully understand and clearly know that if I have a default event under this contract, the Creditor
will send my negative credit information to the financial credit information database and show it in my credit report. If the
above negative credit information is submitted, the Creditor may notify the Guarantor via the following methods. The Guarantor’s
contact information shall be the contact information of the Guarantor specified in this contract or changed in accordance with
the provisions hereof: (Note: check where applicable)

 

√
    Text message

 

√
    Telephone

 

√
    E-mail

 

X
   Other means: X

 

(Note:
This Guarantor declaration is not applicable when the Guarantor is an organization.)

 

3.
The Guarantor knows and understands that term of the above authorization starts from the date of the Guarantor’s signing
of this contract and remains effective till date of settlement of the loan guaranteed by the Guarantor under this contract. The
Creditor shall bear all the consequences and legal liabilities arising from its inquiries that are beyond the above authorization.

 

Article
13      Contract Effectiveness

 

This
contract shall come into effect upon the following conditions:

 

1.
The Guarantor signs the contract (when the Guarantor is a natural person) or the legal representative/person in charge of the
Guarantor or its authorized signatory signs and stamps official seal on the contract (when the Guarantor is an organization).

 

2.
The person in charge of the Creditor or its authorized signatory signs and stamps the official seal.

 

    

     

    

 

This
contract is entered in two original copies, with each party (when the Guarantor is not the borrower) holding one original copy,
and all the original copies have the same legal effect.

 

The
Guarantor declares that: content of this contract have been negotiated with me and been fully informed and explained by the Creditor.
I have understood and agreed to the entire content of this contract.

 

	Guarantor:	Creditor:
	 	 
	Legal representative/person in charge or authorized signatory:	Legal representative/person in charge or authorized signatory:
	 	 
	Date:	Date:

 

    

     

    

 

Annex
I:      Special signing terms

(Fill
in where applicable, “/” if not applicable.)

 

	I.          Information of the signing parties
	(I)          Guarantor information (applicable when the Guarantor is a natural person)
	Name	/
	ID
    card No.	/
	Address	/
	Postal
    code	/
	Tel
    (Mobile phone)	/
	(II)          Guarantor information (applicable when the Guarantor is an organization)
	Name	 
	Business
    license number	 
	Legal
    representative	 
	Address	 
	Postal
    code	 
	Tel	 
	Fax	 
	Account opening financial institution and account number	 
	(III)          Creditor Information
	Name	 
	Person
    in charge	 
	Address	 
	Postal
    code	 
	Tel	 
	Fax	 

 

	II.          Main Contract information
	The
    Main Contract is: the following contract signed by the Creditor and borrower as well as its amendment or supplement.
	Name
    of the contract	Entrusted
    Loan Contract
	Contract
    No.	 

 

	III.          Scope of guarantee
	/	Staged
    joint and several liability guarantee
	Starting
    from the date ___, the Guarantor shall not assume any new guarantee obligations and responsibilities under this contract.
    However, the debts under the Main Contract which has occurred prior to this date constitute the Principal Debt of this contract,
    for which the Guarantor shall be liable.
	√	Full-term
    joint and several liability guarantee
	All
    debts under the Main Contract constitute the Principal Debt of this contract, for which the Guarantor shall be liable.Exhibit 10.1

 

INVESTMENT ADVISORY AGREEMENT

 

BETWEEN

 

PRINCETON CAPITAL CORPORATION

 

AND

 

PRINCETON ADVISORY GROUP, INC.

 

AGREEMENT, dated as of June 9, 2016, between
Princeton Capital Corporation, a Maryland corporation (the “Corporation”), and Princeton Advisory Group, Inc.
(the “Adviser”), a New Jersey corporation. The date on which this Agreement becomes effective as provide in
Section 9(a) hereof is referred to herein as the “Effective Date.”

 

WHEREAS,
the Adviser has agreed to furnish investment advisory services to the Corporation, which intends to elect to operate as a business
development company under the Investment Company Act of 1940, as amended (the “Investment Company Act”); and

 

WHEREAS, this Agreement has been approved
in accordance with the provisions of the Investment Company Act, and the Adviser is willing to furnish such services upon the terms
and conditions herein set forth.

 

NOW, THEREFORE, in consideration of the
mutual premises and covenants herein contained and other good and valuable consideration, the receipt of which is hereby acknowledged,
it is agreed by and between the parties hereto as follows:

 

1.       In
General. During the term of this Agreement, the Adviser agrees, all as more fully set forth herein, to act as investment advisor
to the Corporation with respect to the investment of the Corporation’s assets and to supervise and arrange for the day-to-day operations
of the Corporation and the purchase of assets for and the sale of assets held in the investment portfolio of the Corporation.

 

2.       Duties
and Obligations of the Adviser with Respect to Investment of Assets of the Corporation.

 

(a)       Subject
to the succeeding provisions of this paragraph and subject to the direction and control of the Corporation’s board of directors
(the “Board of Directors”), during the term of this Agreement, the Adviser shall act as the investment advisor
to the Company and to manage the investment and reinvestment of the assets of the Company. Without limiting the generality of
the foregoing, the Adviser shall, during the term and subject to the provisions of this Agreement, (i) determine the composition
of the portfolio of the Corporation, the nature and timing of the changes therein and the manner of implementing such changes;
(ii) identify, evaluate and negotiate the structure of the investments made by the Corporation; (iii) execute, close, service
and monitor the investments that the Corporation makes; (iv) determine the securities and other assets that the Corporation will
purchase, retain or sell; (v) perform due diligence on prospective portfolio companies; (vi) provide the Corporation with such
other investment advisory, research and related services as the Corporation may, from time to time, reasonably require for the
investment of its funds; and (vii) if directed by the Board of Directors, assist in the execution and closing of the sale of the
Corporation’s assets or a sale of the equity of the Corporation in one or more transactions, however structured, in each
case as approved by the Board of Directors. Nothing contained herein shall be construed to restrict the Corporation’s right
to hire its own employees or to contract for administrative services to be performed by third parties, including but not limited
to, the calculation of the net asset value of the Corporation’s shares.

  

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(b)       In
the performance of its duties under this Agreement, the Adviser shall at all times conform to, act in accordance with, and act
so that the Corporation is in compliance with, any requirements imposed by (i) the provisions of the Investment Company Act and
the Investment Advisers Act of 1940, as amended (the “Advisers Act”), and of any rules or regulations in force
thereunder, subject to the terms of any exemptive order applicable to the Corporation; (ii) any other applicable provision of
law; (iii) the provisions of the Articles of Amendment and Restatement and the Bylaws of the Corporation, as such documents are
amended from time to time; (iv) the investment objectives, policies and restrictions applicable to the Corporation as set forth
in the Corporation’s proxy or information statement as it may be amended from time to time by the Board of Directors of
the Corporation; and (v) any policies and determinations of the Board of Directors that are provided in writing to the Adviser.

 

(c)       The
Adviser will provide qualified personnel to fulfill its duties hereunder and, except as set forth in the following sentence, will
bear all costs and expenses incurred in connection with its investment advisory duties hereunder. Except as provided in Section
5 hereof, the Corporation shall reimburse the Adviser for all direct and indirect costs and expenses incurred by the Adviser during
the term of this Agreement for (i) due diligence of potential investments of the Corporation, (ii) monitoring performance of the
Corporation’s investments, (iii) serving as officers of the Corporation, (iv) serving as directors and officers of portfolio companies
of the Corporation, (v) providing managerial assistance to portfolio companies of the Corporation, and (vi) enforcing the Corporation’s
rights in respect of its investments and disposing of its investments; provided, however, that, any third party expenses incurred
by the Adviser in excess of $50,000 in the aggregate in any calendar quarter require advance approval by the Board of Directors.
All allocations of costs and expenses made pursuant to this paragraph (c) shall be made pursuant to allocation guidelines approved
from time to time by the Board of Directors. The Corporation shall also be responsible for the payment of all the Corporation’s
other expenses, including payment of the fees payable to the Adviser under Section 6 hereof; organizational and offering expenses;
expenses incurred in valuing the Corporation’s assets and computing its net asset value per share (including the cost and expenses
of any independent valuation firm); subject to the limitations in the proviso in the immediately preceding sentence, expenses incurred
by the Adviser that are payable to third parties, including agents, consultants or other advisors, in monitoring financial and
legal affairs for the Corporation and in monitoring the Corporation’s investments and performing due diligence on the Corporation’s
prospective portfolio companies or otherwise related to, or associated with, evaluating and making investments; interest payable
on debt, if any, incurred to finance the Corporation’s investments and expenses related to unsuccessful portfolio acquisition efforts;
offerings of the Corporation’s common stock and other securities; administration fees; transfer agent and custody fees and expenses;
federal and state registration fees of the Corporation (but not the Adviser); all costs of registration and listing the Corporation’s
shares on any securities exchange; federal, state and local taxes; independent directors’ fees and expenses; costs of preparing
and filing reports or other documents required of the Corporation (but not the Adviser) by the Securities and Exchange Commission
(“SEC”) or other regulators; costs of any reports, proxy statements or other notices to stockholders, including printing
costs; the costs associated with individual or group stockholders; the Corporation’s allocable portion of the fidelity bond, directors
and officers/errors and omissions liability insurance, and any other insurance premiums; direct costs and expenses of administration
and operation of the Corporation, including printing, mailing, long distance telephone, copying, secretarial and other staff, independent
auditors and outside legal costs; and all other non-investment advisory expenses incurred by the Corporation in connection with
the administering the Corporation’s business.

 

(d)       The
Adviser shall, at all times during the term of this Agreement and for one year thereafter, maintain directors and officers/errors
and omissions liability insurance in an amount and with a provider reasonably acceptable to the Board of Directors.

 

(e)       The
Adviser will place orders either directly with the issuer or with any broker or dealer. Subject to the other provisions of this
paragraph, in placing orders with brokers and dealers, the Adviser will attempt to obtain the best price and the most favorable
execution of its orders. In placing orders, the Adviser will consider the experience and skill of the firm’s securities traders
as well as the firm’s financial responsibility and administrative efficiency. Consistent with this obligation, the Adviser may
select brokers on the basis of the research, statistical and pricing services they provide to the Corporation and other clients
of the Adviser.

  

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Information and research received from
such brokers will be in addition to, and not in lieu of, the services required to be performed by the Adviser hereunder. A commission
paid to such brokers may be higher than that which another qualified broker would have charged for effecting the same transaction,
provided that the Adviser determines in good faith that such commission is reasonable in terms either of the transaction or the
overall responsibility of the Adviser to the Corporation and its other clients and that the total commissions paid by the Corporation
will be reasonable in relation to the benefits to the Corporation over the long term, subject to review by the Board of Directors
of the Corporation from time to time with respect to the extent and continuation of such practice to determine whether the Corporation
benefits, directly or indirectly, from such practice.

 

(f)       The
Adviser may not assign or delegate, whether to a sub-adviser or otherwise, and whether by operation of law, merger or
otherwise, all or any portion of its obligations under this Agreement without the prior written consent of the Board of
Directors, which consent the Board of Directors may give, withhold, delay or condition for any reason or no reason in its
sole discretion. Any purported assignment or delegation in violation of the immediately preceding sentence shall be void and
of no force or effect.

 

3.       Services
Not Exclusive. Nothing in this Agreement shall prevent the Adviser or any officer, employee or other affiliate thereof from
acting as investment advisor for any other person, firm or corporation, or from engaging in any other lawful activity, and shall
not in any way limit or restrict the Adviser or any of its officers, employees or agents from buying, selling or trading any securities
for its or their own accounts or for the accounts of others for whom it or they may be acting; provided, however,
that the Adviser will not undertake, and will cause its employees not to undertake, activities which, in its reasonable judgment,
will adversely affect the performance of the Adviser’s obligations under this Agreement.

 

4.       No
Agency Cross Transactions. From time to time, the Adviser or brokers or dealers affiliated with it may find themselves in
a position to buy for certain of their brokerage clients (each an “Account”) securities which the Adviser’s
investment advisory clients wish to sell, and to sell for certain of their brokerage clients securities which advisory clients
wish to buy. Where one of the parties is an advisory client, the Adviser or the affiliated broker or dealer cannot participate
in this type of transaction (known as a cross transaction) on behalf of an advisory client and retain commissions from one or
both parties to the transaction without the advisory client’s consent. This is because in a situation where the Adviser
is making the investment decision (as opposed to a brokerage client who makes his own investment decisions), and the Adviser or
an affiliate is receiving commissions from both sides of the transaction, there is a potential conflicting division of loyalties
and responsibilities on the Adviser’s part regarding the advisory client. The SEC has adopted a rule under the Advisers
Act which permits the Adviser or its affiliates to participate on behalf of an Account in agency cross transactions if the advisory
client has given written consent in advance. Neither the Adviser nor its affiliates may participate in agency cross transactions
involving an Account without the prior written consent of the Board of Directors, which consent the Board of Directors may give,
withhold, delay or condition for any reason or no reason in its sole discretion.

 

5.       Expenses.
During the term of this Agreement, the Adviser will bear all compensation expense (including health insurance, pension benefits,
payroll taxes and other compensation related matters) of its employees and shall bear the costs of any salaries or directors’ fees
of any officers or directors of the Corporation who are affiliated persons (as defined in the Investment Company Act) of the Adviser;
provided, however, that the Adviser, subject to approval by the Board of Directors, shall be entitled to reimbursement for the
portion of any compensation expense and the costs of any salaries of any such employees to the extent attributable to services
performed by such employees for the Corporation. During the term of this Agreement, the Adviser will also bear all costs and expenses
incurred by the Adviser for office space rental, office equipment, utilities and other non-compensation related overhead allocable
to performance of its obligations under this Agreement.

  

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6.       Compensation
of the Adviser. During the term of this Agreement, the Adviser, for its services to the Corporation, will be entitled to receive
a management fee (the “Base Management Fee”) from the Corporation. The Base Management Fee will be calculated
at an annual rate of 1.00% of the Corporation’s gross assets, including assets purchased with borrowed funds or other forms
of leverage and excluding cash and cash equivalents, net of all indebtedness of the Corporation for borrowed money and other liabilities
of the Corporation. The Base Management Fee is payable quarterly in arrears on a calendar quarter basis. The Base Management Fee
will be calculated based on the average value of the Corporation’s net assets, determined as set forth in the second sentence
of this Section 6, at the end of the two most recently completed calendar quarters prior to the quarter for which such fees are
being calculated. In the event that (a) the Corporation or any of its assets are sold or transferred to an independent third party
or (b) the Corporation or the Adviser receives an audit report or other independent third party valuation of any asset of the
Corporation, the Board of Directors may adjust the value of the Corporation’s assets, and the resulting calculations of
Base Management Fee, on a retroactive basis to account for the value of such asset in such sale, audit report or valuation. To
the extent that any such adjustment increases the Base Management Fee payable with respect to any prior period, the Corporation
shall promptly pay the amount of such increase to the Adviser. To the extent than any such adjustment decreases the Base Management
Fee payable with respect to any prior period, the Adviser shall promptly refund the amount of such decrease to the Corporation;
provided, that if the Adviser has not refunded any such amount prior to the date that the next Base Management Fee payment is
due, then the Corporation may offset the amount of such refund against the Base Management Fee payment then due. Base Management
Fees for any partial month or quarter will be appropriately pro-rated.

 

7.       Indemnification.
The Adviser (and its officers, managers, employees and members) shall not be liable to the Corporation for any action taken
or omitted to be taken by the Adviser in connection with the performance of any of its duties or obligations under this Agreement
or otherwise as an investment adviser of the Corporation (except to the extent specified in Section 36(b) of the Investment Company
Act concerning loss resulting from a breach of fiduciary duty (as the same is finally determined by judicial proceedings) with
respect to the receipt of compensation for services), and the Corporation shall indemnify, defend and protect the Adviser (and
its officers, managers, employees and members) (collectively, the “Indemnified Parties”) and hold them harmless
from and against all damages, liabilities, costs and expenses (including reasonable attorneys’ fees and amounts reasonably
paid in settlement) incurred by the Indemnified Parties in or by reason of any pending, threatened or completed action, suit,
investigation or other proceeding (including an action or suit by or in the right of the Corporation or its security holders)
arising out of or otherwise based upon the performance of any of the Adviser’s duties or obligations under this Agreement
or otherwise as an investment adviser of the Corporation. Notwithstanding the preceding sentence of this Section 7 to the contrary,
nothing contained herein shall protect or be deemed to protect the Indemnified Parties against or entitle or be deemed to entitle
the Indemnified Parties to indemnification in respect of, any liability to the Corporation or its security holders to which the
Indemnified Parties would otherwise be subject by reason of willful misfeasance, bad faith or negligence in the performance of
the Adviser’s duties, or by reason of the material breach or reckless disregard of the Adviser’s duties and obligations
under this Agreement, and nothing contained herein shall constitute a waiver of any rights which the Corporation may have which
may not be waived under applicable law. In calculating amounts payable to an Indemnified Party hereunder, the amount of any indemnified
losses shall be computed net of any payments recovered by the Indemnified Party under any insurance policy with respect to such
losses. If the amount recovered by an Indemnified Party under any insurance policy is received after payment by the Corporation
to an Indemnified Party of any amount required to be paid by the Corporation under this Section 7, the Indemnified Party shall
promptly repay to Corporation the amount of such insurance recovery.

  

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8.       Representations,
Warranties and Covenants of Adviser. The Adviser represents, warrants and covenants to the Corporation as follows:

 

(a)       The
Adviser is a corporation duly organized, validly existing and in good standing under the laws of the state of New Jersey. The Adviser
has all necessary power and authority to enter into this Agreement and to perform its obligations under this Agreement. The execution
and delivery by the Adviser of this Agreement and the performance by the Adviser of its obligations under this Agreement have been
duly authorized by all requisite action on the part of the Adviser. This Agreement has been duly executed and delivered by the
Adviser, and this Agreement constitutes a legal, valid and binding obligation of the Adviser, enforceable against the Adviser in
accordance with its terms.

 

(b)       The
Adviser is duly registered as an investment adviser under the Advisers Act. The Adviser will at all times have in effect all registrations,
licenses, bonds and approvals necessary for it to perform all of its obligations under this Agreement.

 

(c)       The
Adviser shall at all times comply in all respects with all applicable federal and state laws governing its operations, including,
without limitation, the Investment Company Act and the Advisers Act.

 

(d)       There
has been no event, fact or circumstance that would require disclosure by or regarding the Adviser or any of its advisory affiliates
(as defined in Form ADV) in response to Item 11 of Part 1 A of Form ADV.

 

(e)       Except
as the Adviser has disclosed to the Corporation in writing prior to the date of this Agreement,  (i) there are no actions,
suits, claims, investigations or other legal proceedings pending or threatened by or against the Adviser or any of its affiliates,
members or executive officers, and (ii) there is no outstanding order, writ, judgment, injunction, decree, stipulation, determination
or award entered by or with any governmental authority or arbitrator against the Adviser or any of its affiliates, members or
executive officers.

 

(f)       The
Adviser will promptly (and in any event within three business days) advise the Board of Directors in writing of any event, fact
or circumstance that results in any of the foregoing representations, warranties or covenants being or becoming incorrect in any
respect as of the date of this Agreement or as of any time during the term of this Agreement.

 

9.        Effectiveness;
Duration and Termination.

 

(a)       A
condition precedent to the effectiveness of this Agreement is the approval of this Agreement by the vote of a majority of the
outstanding voting securities of the Corporation entitled to be cast by the holders thereof, and this Agreement shall not become
effective until such approval is obtained. In the event such approval is not obtained by June 30, 2016, this Agreement shall be
null and void and of no force or effect, ab initio.

 

(b)       This
Agreement may be terminated at any time, without the payment of any penalty, (i) upon written notice, effective on the date set
forth in such notice, by the vote of a majority of the outstanding voting securities of the Corporation or by the vote of the Corporation’s
Directors, or (ii) upon 60 days’ written notice, by the Adviser. From and after the Effective Date, the provisions of Section 7
of this Agreement shall remain in full force and effect, and the Adviser and the other Indemnified Parties shall remain entitled
to the benefits thereof, notwithstanding any termination of this Agreement. Further, notwithstanding the termination or expiration
of this Agreement as aforesaid, the Adviser shall be entitled to amounts owed under Section 6 through the date of termination or
expiration, if any.

 

(c)       Unless
earlier terminated in accordance with its terms, this Agreement shall commence on the Effective Date and continue in effect for
one year from the Effective Date and thereafter shall continue automatically for successive annual periods, provided that such
continuance is specifically approved at least annually by (A) the vote of the Board, or by the vote of a majority of the outstanding
voting securities of the Corporation and (B) the vote of a majority of the members of the Corporation’s Board who are not parties
to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act)
of any such party, in accordance with the requirements of the Investment Company Act.

 

(d)       This
Agreement will automatically terminate in the event of its “assignment” (as such tennis defined for purposes of Section
15(a)(4) of the Investment Company Act).

  

    	 	 	Page 5

     

    

 

10.       Notices. Any notice under this Agreement
shall be in writing to the other party at such address as  the other party may designate from time to time for the receipt
of such notice and shall be deemed to be received on the earlier of the date actually received, the second business day after
sending the same (charges prepaid) if such notice is sent via reputable overnight delivery service or on the fourth day after
the postmark if such notice is mailed first class postage prepaid.

 

11.       Amendment
of this Agreement. This Agreement may only be amended by mutual consent, but the consent of the Corporation must be
obtained in conformity with the requirements of the Investment Company Act. No waiver by any party of any of the provisions
hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party
shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such
written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to
exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be
construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege

 

12.       Entire
Agreement. This Agreement contains the entire agreement of the parties and supersedes all prior agreements,
understandings and arrangements with respect to the subject matter hereof.

 

13.       Governing Law; Consent to Jurisdiction; Jury Trial
Waiver.

 

(a)       This
Agreement and all claims arising hereunder or relating hereto shall be governed by, and construed in accordance with, the laws
of the State of Delaware, without giving effect to any conflict of laws principles that would result in the application of the
laws of any other jurisdiction, and in accordance with the applicable provisions of the Investment Company Act. In such case, to
the extent the applicable laws of the State of Delaware, or any of the provisions herein, conflict with the provisions of the Investment
Company Act, the latter shall control.

 

(b)       Each
of the parties to this Agreement consents to submit to the exclusive personal jurisdiction of the Delaware Chancery Court, or if
such court does not have proper jurisdiction, any other state or federal court sitting in the State of Delaware in connection with
any action or proceeding arising out of or relating to this Agreement and agrees that all claims in respect of any such action
or proceeding may be heard and determined in any such court. Each of the parties to this Agreement agrees not to assert in any
action or proceeding arising out of or relating to this Agreement that venue in Delaware is improper, and waives any defense of
inconvenient forum to the maintenance of any action or proceeding so brought and waives and bond, surety or other security that
might be required of any other party with respect thereto.

 

(c)       EACH
PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY
RIGHTS UNDER THIS AGREEMENT, OR UNDER ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE
DELIVERED IN CONNECTION THEREWITH OR ARISING FROM ANY RELATIONSHIP EXISTING IN CONNECTION WITH THIS AGREEMENT OR ANY RELATED TRANSACTION,
AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

 

14.       Miscellaneous.

 

(a)       The captions in
this Agreement are included for convenience of reference only and in no way define or delimit any of the provisions hereof or
otherwise affect their construction or effect. If any provision of this Agreement shall be held or made invalid by a court decision,
statute, rule or otherwise, the remainder of this Agreement shall not be affected thereby. This Agreement shall be binding on,
and shall inure to the benefit of the parties hereto and their respective successors.

  

    	 	 	Page 6

     

    

 

(b)      This
Agreement has been freely and fairly negotiated between the parties hereto. If an ambiguity or question of intent or interpretation
arises, this Agreement will be construed as if drafted jointly by the parties and no presumption or burden of proof will arise
favoring or disfavoring any party because of the authorship of any provision of this Agreement. Unless the context requires otherwise,
any agreements, documents, instruments or laws defined or referred to in this Agreement will be deemed to mean or refer to such
agreements, documents, instruments or laws as from time to time amended, modified or supplemented, including (i) in the case of
agreements, documents or instruments, by consent and (ii) in the case of laws, by succession of comparable successor statutes.
All references in this Agreement to any particular law will be deemed to refer also to any rules and regulations promulgated under
that law. The words “include,” “includes” and “including” will be deemed to be followed by “without
limitation.” The word “or” is used in the inclusive sense of “and/or” unless the context requires otherwise.
References to a person or entity are also to their permitted successors and assigns. Pronouns in masculine, feminine and neuter
genders will be construed to include any other gender, and words in the singular form will be construed to include the plural and
vice versa, unless the context requires otherwise. When a reference in this Agreement is made to an Article or Section, such reference
is to an Article or Section of this Agreement unless otherwise indicated. The words “this Agreement,” “herein,”
“hereof,” “hereby,” “hereunder” and words of similar import refer to this Agreement as a whole and
not to any particular subdivision unless expressly so limited.

 

(c)       Subject
to Section 2(f) hereof, all of the terms, agreements, covenants, representations, warranties and conditions of this Agreement are
binding upon, and inure to the benefit of and are enforceable by, the parties and their respective successors and permitted assigns.

 

15.      Counterparts.
This Agreement may be executed in counterparts by the parties hereto, each of which  shall constitute an original counterpart,
and all of which, together, shall constitute one Agreement. The exchange of copies of this Agreement and of executed signature
pages by facsimile transmission or by electronic mail in “portable document format” (“.pdf’) or by a combination
of such means, will constitute effective execution and delivery of this Agreement as to the parties hereto and may be used in
lieu of an original Agreement for all purposes. Signatures of the parties transmitted by facsimile or by .pdf shall be deemed
to be their original signatures for all purposes.

 

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IN WITNESS WHEREOF, the parties hereto
have caused this Investment Advisory Agreement to be executed by their duly authorized officers, all as of the day and the year
first above written.

  

	 	PRINCETON CAPITAL CORPORATION
	 	 
	 	By:	/s/ Munish Sood
	 	 	Name: Munish Sood
	 	 	Title:   Chief Executive Officer

     

	 	PRINCETON ADVISORY GROUP, INC.
	 	 
	 	By:	/s/ Munish Sood
	 	 	Name: Munish Sood
	 	 	Title:   President

 

 

 

Page 8

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