Document:

Exhibit 10.1 

 

Share
Pledge Agreement

 

This
Share Pledge Agreement (this “Agreement”) has been executed by and among the following parties on August 24, 2021 in Nanjing,
the People’s Republic of China (“China” or the ” PRC”):

 

	Party A:	Nanjing
    Dingxu Xinhui Technology Co. Ltd. (hereinafter “Pledgee”), a wholly foreign owned enterprise with limited liability
    which is incorporated and established in Nanjing City, China, with its registered address at Room 501, Building 12 Ideal Mingyuan,
    No. 88, Gaotang Road, Moling Street, Jiangning District, Nanjing City;
	 	 
	Party B:	Weiming Jin and
    Xin Jin (collectively referred as the “The Pledgors”) are natural persons in China; and
	 	 
	Party C:	Jiangsu Easy Parking
    Intelligent Technology Co., Ltd., a limited liability company incorporated and established in Nanjing City, China, with its registered
    address at Building l, No.7 Yingcui Road, Moling Street, Jiangning District, Nanjing City.
	 	 
	 	In this Agreement, each
    of Pledgee, Pledgors and Party C shall be referred to as a “Party” respectively, and they shall be collectively referred
    to as the “Parties “.

 

Whereas:

 

1. The Pledgors
are natural persons in China, and hold 100% of the equity interest of Party C;

 

2.
The Pledgee is a wholly foreign-owned enterprise registered in China. The Pledgee and Party C have executed the Business Cooperation
Agreement (set out below) in Nanjing;

 

3.
Party C is a limited liability company registered in Nanjing, China. Party C intend to hereby acknowledge the respective rights and obligations
of the Pledgors and the Pledgee under this Agreement, and provide any necessary assistance in registering the Pledge (set out below);

 

4.
To ensure that Party C fully performs its obligations under the Exclusive Busines. Cooperation Agreement and pay the service fees thereunder
to the Pledgee when the same becomes due, the Pledgors hereby pledge to the Pledgee all of the equity interest he holds in Party C as
security for payment of the service fees by Party C under the Business Cooperation Agreement (set out below).

 

To
perform the provisions of the Business Cooperation Agreement, the Parties have mutually agreed to execute this Agreement upon the following
terms.

 

     

     

    

 

		1.	Definitions

 

Unless otherwise
provided herein, the terms below shall have the following meanings:

 

		1.1	Pledge:
                                            shall refer to the security interest granted by the Pledgors to the Pledgee pursuant to Section
                                            2 of this Agreement, i.e., the right of the Pledgee to be compensated on a preferential basis
                                            for the proceeds from the conversion, auction or sales of the Equity Interest.

 

		1.2	Equity
                                            Interest: shall refer to all of the equity interest lawfully held now and hereafter acquired
                                            by the Pledgors in Party C.

 

		1.3	Term
                                            of Pledge: shall refer to the term set forth in Section 3 of this Agreement.

 

		1.4	Business
                                            Cooperation Agreement: shall refer to an exclusive business cooperation agreement executed
                                            by and between Party C and the Pledgee on August 24, 2021.

 

		1.5	Event
                                            of Default: shall refer to any of the circumstances set forth in Section 7
                                            o1 this Agreement.

 

		1.6	Notice
                                            of Default: shall refer to the notice issued by the Pledgee in accordance with this Agreement
                                            declaring an Event of Default.

 

		2.	The
                                            Pledge

 

As
collateral security for the timely and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise)
by Party C of any 01 all of the payments , including without limitation the service fees payable
to the Pledgee under the Business Cooperation Agreement , the Pledgors hereby pledge ta the Pledgee a first security interest in all
of the Pledgors’ right, title and interest, whether now owned or hereafter acquired by the Pledgors , in the Equity Interest of Party
C.

 

		3.	Term
                                            of Pledge

 

		3.1	The
                                            Pledge shall become effective on such date when the pledge of the Equity Interest contemplated
                                            herein has been registered with relevant administration f01 industry and commerce (the “AIC”).
                                            The Pledge shall be continuously valid until all payments due under the Business Cooperation
                                            Agreement have been fulfilled by Party C. The Pledgors and Party C shall (1) register the
                                            Pledge in the shareholders’ register of Party C within 3 business days following the execution
                                            of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge
                                            of the Equity Interest contemplated herein within 15
                                            business days following the execution of this Agreement. The parties covenant that for the
                                            purpose of registration of the Pledge, the parties hereto and all othe1 shareholders of Party
                                            C shall submit to the AIC this Agreement or an equity interest pledge contract in the form
                                            required by the AIC at the location of Party C which shall truly reflect the information
                                            of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified
                                            in the AIC Pledge Contract, the Parties shall be bound by the provisions of this Agreement.
                                            The Pledgors and Party C shall submit all necessary documents and complete all necessary
                                            procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that
                                            the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after
                                            filing.
	 	 	 

		3.2	During
                                            the Term of Pledge, in the event Party C fails to pay the service fees in accordance with
                                            the Business Cooperation Agreement, the Pledgee shall have the right, but not the obligation,
                                            to dispose of the Pledge in accordance with the provisions of this Agreement.

 

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		4.	Custody
                                            of Records for Equity Interest subject to Pledge

 

		4.1	During
                                            the Term of Pledge set forth in this Agreement, the Pledgors shall delive1 to the Pledgee’s
                                            custody the capital contribution certificate for the Equity Interest and the shareholders’
                                            register containing the Pledge within one week from the execution of this Agreement. The
                                            Pledgee shall have custody of such item s during the entire Term of Pledge set forth in this
                                            Agreement.

 

		4.2	The
                                            Pledgee shall have the right to collect any and all dividends declared or generated in connection
                                            with the Equity Interest during the Term of Pledge.

 

		5.	Representations
                                            and Warranties of the Pledgors

 

		5.1	The
                                            Pledgors are the so le legal and beneficial own er of the Equity Interest.

 

		5.2	The
                                            Pledgee shall have the right to dispose of and transfer the Equity Interest in I
                                            accordance with the provisions set forth in this Agreement.

 

		5.3	Except
                                            for the Pledge, the Pledgors have not placed any security interest or other encumbrance on
                                            the Equity Interest.

 

		6.	Covenants
                                            and Further Agreements of the Pledgors

 

		6.1	The
                                            Pledgors hereby covenant to the Pledgee, that during the term of this Agreement, the Pledgors
                                            shall:

 

		6.1.1	not
                                            transfer the Equity Interest, place or permit the existence of any security interest or other
                                            encumbrance on the Equity Interest, without the prior written consent of the Pledgee, except
                                            for the performance of the Exclusive Option Agreement executed by the Pledgors, the Pledgee
                                            and Party C on the execution date of this Agreement ;

 

		6.1.2	comply
                                            with the provisions of all law s and regulations applicable to the pledge of rights, and
                                            within five (5) days of receipt of any notice, order or recommendation issued or prepared
                                            by the relevant competent authorities regarding the Pledge, shall present the aforementioned
                                            notice, order or recommendation to the Pledgee, and shall comply with the aforementioned
                                            notice, order or recommendation or submit objections and representations with respect to
                                            the aforementioned matters upon the Pledgee’s reasonable request or upon consent of the Pledgee;

 

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		6.1.3	promptly
                                            notify the Pledgee of any event or notice received by the Pledgors that may have an impact
                                            on the Pledgee’s rights to the Equity Interest or any portion thereof, as well as any event
                                            or notice received by the Pledgors that may have an impact on any guarantees and other obligations
                                            of the Pledgors arising out of this Agreement.

 

		6.2	The
                                            Pledgors agree that the rights acquired by the Pledgee in accordance with this Agreement
                                            with respect to the Pledge shall not be interrupted or harmed by the Pledgors or any heirs
                                            or representatives of the Pledgors or any other persons through any legal proceedings.

 

		6.3	To
                                            protect or perfect the security interest granted by this Agreement for payment of the service
                                            fees under the Business Cooperation Agreement, the Pledgors hereby undertake to execute in
                                            good faith and to cause other parties who have an interest in the Pledge to execute all certificates,
                                            agreements, deeds and/01 covenant s required by the Pledgee. The Pledgors also undertake
                                            to perform and to cause other parties who have an interest in the Pledge to perform actions
                                            required by the Pledgee, to facilitate the exercise by the Pledgee of its rights and authority
                                            granted thereto by this Agreement, and to enter into all relevant documents regarding ownership
                                            of Equity Interest with the Pledgee or designee(s) of the Pledgee (natural persons/ legal
                                            persons). The Pledgors undertake to provide the Pledgee within a reasonable time with all
                                            notices, orders and decisions regarding the Pledge that are required by the Pledgee.

 

		6.4	The
                                            Pledgors hereby undertake to comply with and perform all guarantees, promises, agreements,
                                            representations and conditions under this Agreement. In the event of failure or partial performance
                                            of its guarantees, promises,agreements,
                                            representations and conditions, the Pledgors shall indemnify the Pledgee for all losses resulting
                                            therefrom.

 

		7.	Event
                                            of Breach

 

		7.1	The
                                            following circumstances shall be deemed Event of Default:

 

		7.1.1	Party
                                            C fails to fully and timely fulfill any liabilities under the Business Cooperation Agreement,
                                            including without limitation failure to pay in full any of the service fees payable under
                                            the Business Cooperation Agreement or breaches any other obligations of Party C thereunder;

 

		7.1.2	The
                                            Pledgor s or Party C have committed a material breach of any provisions of this Agreement;

 

		7.1.3	Except
                                            as expressly stipulated in Section 6.1.1, the Pledgors abandon the Equity Interest pledged
                                            or assign or purport to assign the Equity Interest pledged without the written consent of
                                            the Pledgee; and

 

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		7.1.4	The
                                            successor or custodian of Party C is capable of only partially perform or refuses to perform
                                            the payment obligations under the Business Cooperation Agreement.

 

		7.2	Upon
                                            notice or discovery of the occurrence of any circumstances or event that may lead to the
                                            aforementioned circumstances described in Section 7.1, the Pledgors shall immediately notify
                                            the Pledgee in writing accordingly.

 

		7.3	Unless
                                            an Event of Default set forth in this Section 7.1 has been success fully resolved to the
                                            Pledgee’s satisfaction within twenty (20) days after the Pledgee delivers a notice to the
                                            Pledgors requesting ratification of such Event of Default, the Pledgee may issue a Notice
                                            of Default to the Pledgors in writing at any time thereafter, demanding the Pledgors to immediately
                                            dispose of the Pledge in accordance with the provisions of Article 8 of this Agreement.

 

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		8.	Exercise
                                            of Pledge

 

		8.1	Prior
                                            to the full payment of the service fees described in the Business Cooperation Agreement,
                                            without the Pledgee’s written consent, the Pledgors shall not assign the Pledge or the Equity
                                            Interest in Party C.

 

		8.2	The
                                            Pledgee may issue a Notice of Default to the Pledgors when exercising the Pledge.

 

		8.3	Subject
                                            to the provisions of Section 7.3, the Pledgee may exercise the right to enforce the Pledge
                                            at any time after the issuance of the Notice of Default in accordance with Section 7.2. Once
                                            the Pledgee elects to enforce the Pledge, the Pledgors shall cease to be entitled to any
                                            rights or interests associated with the Equity Interest.

 

		8.4	In
                                            the Event of Default, the Pledgee is entitled to dispose of the Equity Interest pledged in
                                            accordance with the applicable PRC laws. Only to the extent permitted under the applicable
                                            PRC laws, the Pledgee has no obligation to account to the Pledgors for proceeds of disposition
                                            of the Equity Interest, and the Pledgors hereby waive any rights they may have to demand
                                            any such accounting from the Pledgee; Likewise, in such circumstance the Pledgors shall have
                                            no obligation to the Pledgee for any deficiency remaining after such disposition of the Equity
                                            Interest pledged.

 

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		8.5	When
                                            the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgors and Party
                                            C shall provide necessary assistance to enable the Pledgee to enforce the Pledge in accordance
                                            with this Agreement.

 

		9.	Assignment

 

		9.1	Without
                                            the Pledgee’s prior written consent, the Pledgors shall not have the right to assign or delegate
                                            its rights and obligations under this Agreement.

 

		9.2	This
                                            Agreement shall be binding on the Pledgors and its successors and permitted assigns, and
                                            shall be valid with respect to the Pledgee and each of it5 successors and assigns.
	 	 	 

		9.3	At
                                            any time, the Pledgee may assign any and all of its rights and obligations under the Business
                                            Cooperation Agreement to its designee(s) (natural/legal persons), in which case the assigns
                                            shall have the rights and obligations of the Pledgee under this Agreement, as if it were
                                            the original party to this Agreement. When the Pledgee assigns the rights and obligations
                                            under the Business Cooperation Agreement, upon the Pledgee’s request, the Pledgors shall
                                            execute relevant agreements or other documents relating to such assignment.

 

		9.4	In
                                            the event of a change in the Pledgee due to an assignment, the Pledgors shall, at the request
                                            of the Pledgee, execute a new pledge agreement with the new pledgee on the same terms and
                                            conditions as this Agreement, and register the same with the relevant AIC.

 

		9.5	The
                                            Pledgors shall strictly abide by the provisions of this Agreement and other contracts jointly
                                            or separately executed by the Parties hereto or any of them, including the Exclusive Option
                                            Agreement and the Power of Attorney granted to the Pledgee, perform the obligations hereunder
                                            and thereunder, and refrain from any action/omission that may affect the effectiveness and
                                            enforceability thereof. Any remaining rights of the Pledgors with respect to the Equity Interes1
                                            pledged hereunder shall not be exercised by the Pledgors except in accordance with the written
                                            instructions of the Pledgee.

 

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		10.	Termination

 

Upon
the full payment of the service fees under the Business Cooperation Agreement and upon termination of Party C’s obligations under the
Business Cooperation Agreement, this Agreement shall be terminated, and the Pledgee shall then cancel or terminate this Agreement as
soon as reasonably practicable.

 

		11.	Handling
                                            Fees and Other Expenses

 

All
fees and out of pocket expenses relating to this Agreement, including but no1 limited to legal costs, costs of production, stamp tax
and any other taxes and fees, shall be borne by Party C.

 

		12.	Confidentiality

 

The
Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties
in connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain
confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose
any relevant confidential information to any third parties, except fo1 the information that: (a) is or will be in the public domain (other
than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws
or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed
by any Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided
tha1 such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to
those set forth in this Section. Disclosure of any confidential information by the staff members or agencies hired by any Party shall
be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This
Section shall survive the termination of this Agreement for any reason.

 

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		13.	Governing
                                            Law and Resolution of Disputes

 

		13.1	The
                                            execution, effectiveness, construction, performance, amendment and termination of this Agreement
                                            and the resolution of disputes hereunder shall be governed by the law s of China.

 

		13.2	In
                                            the event of an y dispute with respect to the construction and performance o1 this Agreement,
                                            the Parties shall first resolve the dispute through friendly negotiations. In the event the
                                            Parties fail to reach an agreement on the dispute within 30 days after either Party’s request
                                            to the other Parties for resolution o1 the dispute through negotiations, either Party may
                                            submit the relevant dispute to the China International Economic and Trade Arbitration Commission
                                            for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted
                                            in Hangzhou, and the language used in arbitration shall be Chinese. The arbitration award
                                            shall be final and binding on all Parties.

 

		13.3	Upon
                                            the occurrence of any disputes arising from the construction and performance of this Agreement
                                            or during the pending arbitration of any dispute, except for the matters under dispute, the
                                            Parties to this Agree men1 shall continue to exercise their respective rights under this
                                            Agreement and perform their respective obligations under this Agreement.

 

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		14.	Notices

 

		14.1	All
                                            notices and other communications required or permitted to be given pursuant to this Agreement
                                            shall be delivered personally or sent by registered mail, postage prepaid, by a commercial
                                            courier service or by facsimile transmission to the address of such party set forth below.
                                            A confirmation copy of each notice shall also be sent by E-ma il. The dates on which notices
                                            shall be deemed to have been effectively given shall be determined as follows:

 

		14.2	Notices
                                            given by personal delivery, by courier service or by registered mail, postage prepaid, shall
                                            be deemed effectively given on the date of receipt or refusal at the address specified for
                                            notices.

 

		14.3	Notices
                                            given by facsimile transmission shall be deemed effectively given on the date of successful
                                            trans miss io n (as evidenced by an automatically generated confirmation of transmission).

 

		14.4	For
                                            the purpose of notices, the addresses of the Parties are as follows:

 

Party
A: Nanjing Dingxu Xinhui Technolo gy C o. Ltd.

 

Address:
Room 501, Building 12, Ideal Mingyuan, No. 88 Gaotang Road,

Moling
Street, Jiangning District, Nanjing City

 

Attn:
Chao Chen

 

Phone:
19962017631

 

Facsimile:
025-85305277

 

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Party
B: Weiming Jin , Xin Jin

 

Attn:
Weiming Jin

 

Address:
Building 1, No.7 Yingcui Road, Moling Street, Jiangning District, Nanjing city

 

Phone: 13309312234

 

Facsimile:
025-85305277

 

Attn: Xin
Jin

 

Phone:
16623060872

 

Facsimile:
025-85305277

 

Party
C: Jiangsu Easy Parking Intelligent Technology Co., Ltd.

 

Address:
Building 1, No.7, Yingcui Road, Moling Street, Jiangning District, Nanjing city

 

Attn: Weiming
Jin

 

Phone: 13309312234

 

Facsimile:
025-85305277

 

		14.5	Any
                                            Party may at any time change its address for notices by a notice delivered to the other Parties
                                            in accordance with the terms hereof.

 

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		15.	Severability

 

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

 

		16.	Attachments

 

The attachments
set forth herein shall be an integral part of this Agreement.

 

		17.	Effectiveness

 

		17.1	Any
                                            amendment s, changes and supplements to this Agreement shall be in writing and shall become
                                            effective upon the affixation of the signatures or seals of the Parties and completion of
                                            the governmental filing procedures (if applicable).

 

		17.2	This
                                            Agreement is written in Chinese and English in three copies. The Pledgors, the Pledgee and
                                            Party C shall hold one copy respectively. Each copy of this Agreement shall have equal validity.
                                            In case there is any conflict between the Chinese version and the English version, the Chinese
                                            version shall prevail.

  

The
Remainder of this page is intentionally left blank

 

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IN
WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Agreement as of the date first above written.

 

	Party A: Nanjing Dingxu Xinhui Technolo
    gy C o. Ltd.
	 	 	 
	By:	/s/ Chao Chen	 
	Title:	Legal Representative	 
	 	 	 
	Party B: Weiming Jin and Xin Jin	 
	 	 
	By:	/s/ Weiming Jin	 
	 	 	 
	 	/s/ Xin Jin	 
	 	 	 
	Party C: Jiangsu Easy Parking Intelligent
    Technology Co., Ltd.
	 
	By:	/s/ Xin Jin	 
	Title:	Legal Representative	 

 

 

13Exhibit
10.2

 

Exclusive
Option Agreement

 

This
Exclusive Option Agreement (this “Agreement”) is executed by and among the following Parties as of August 24, 2021 in Nanjing,
the People’ s Republic of China (” China” or the “PRC”):

 

	Party
    A:	Nanjing
    Dingxu Xinhui Technology Co. L td., a wholly foreign-owned enterprise with limited liability which is incorporated and established
    in Nanjing City, China, with its registered address at Room 501, Building 12, Ideal Mingyuan, No. 88 Gaotang Road, Moling Street,
    Jiangning District, Nanjing City;
	 	 
	Party
    B:	Weiming
    Jin and Xin Jin (collectively referred as the “Shareholders”) are natural persons in China; and
	 	 
	Party
    C:	Jiangsu
    Easy Parking Intelligent Technology Co., Ltd., a limited liability company incorporated and established in Nanjing City, China, with
    its registered address at Building I, No. 7 Yingcui Road, Moling Street, Jiangning District, Nanjing City.

 

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

 

Whereas:

 

		1.	Party
                                            B hold 100% of the equity interest in Party C.

 

		2.	Party
                                            B agree to grant Party A an exclusive equity purchase option.

 

Now
therefore, upon mutual discussion and negotiation, the Parties have reached the following agreement:

 

		1.	Sale
                                            and Purchase of Equity Interest

 

		1.1	Option
                                            Granted

 

In
consideration of the payment of RMB l0.00 by Party A, the receipt and adequacy of which is hereby acknowledged by Party B, Party B hereby
irrevocably grants Party A an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”)
to purchase the equity interest in Party C then held by Party B once or at multiple times at any time in part or in whole at Party A’s
sole and absolute discretion to the extent permitted by Chinese law s and at the price described in Section 1.3 herein (such right being
the “Equity Interest Purchase Option”). Except for Party A and the Designee (s), no other person shall be entitled to the
Equity Interest Purchase Option or other rights with respect to the equity interest of Party B. Party C hereby agrees on the grant by
Party B of the Equity Interest Purchase Option to Party A. The term “person” as used here in shall refer to individuals,
corporations, partnership s, partners, enterprises, trusts or non-corporate organizations.

 

		1.2	Steps
                                            for Exercise of Equity Interest Purchase Option

 

Subject
to the provisions of the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written
notice to Party B (the “Equity Interest Purchase Option Notice”), specifying : (a) Party A’s decision to exercise the
Equity Interest Purchase Option; (b) the portion of equity interest to be purchased from Party B (the “Optioned Interests”);
and (c) the date for purchasing the Optioned Interests and/or the date for transfer of the Optioned Interests.

 

    

    

    

 

		1.3	Equity
                                            Interest Purchase Price

 

The
aggregate purchase price of all the Optioned Interests of Party B to be purchased by Party A shall be equal to the capital actually paid
in by the Party B, unless the applicable PRC laws and regulations require an appraisal of the Equity Interest or stipulate other restrictions
regarding the Equity Interest Purchase Price (the “Equity Interest Purchase Price”).

 

		1.4	Transfer
                                            of Optioned Interest

 

For
each exercise of the Equity Interest Purchase Option:

 

		1.4.1	Party
                                            B shall cause Party C to promptly convene a shareholders’ meeting, at which a resolution
                                            shall be adopted approving Party B’s transfer of the Optioned Interests to Party A
                                            and/or the Designee(s);

 

		1.4.2	Party
                                            B shall obtain written statements from the other shareholders of Party C (if any) giving
                                            consent to the transfer of the equity interest to Party A and/or the Designee(s) and waiving
                                            any right of first refusal related thereto;

 

		1.4.3	Party
                                            B shall execute a share transfer contract with respect to each transfer with Party A and/or
                                            each Designee (whichever is applicable), in accordance with the provisions of this Agreement
                                            and the Equity Interest Purchase Option Notice regarding the Optioned Interests;

 

		1.4.4	The
                                            relevant Parties shall execute all other necessary contracts, agreements or documents, obtain
                                            all necessary government licenses and permits and take all necessary actions to transfer
                                            valid ownership of the Optioned Interests to Party A and/or the Designee(s), unencumbered
                                            by any security interests, and cause Party A and/or the Designee(s) to become the registered
                                            owner(s) of the Optioned Interests. For the purpose of this Section and this Agreement, “security
                                            interests” shall include securities, mortgages, third party’s rights or interest
                                            s, any stock options, acquisition right, right of first refusal, right to offset, ownership
                                            retention or other security arrangements, but shall be deemed to exclude any security interest
                                            created by this Agreement and Party B’s Share Interest Pledge Agreement. “Party
                                            B’s Share Interest Pledge Agreement” as used in this Section and this Agreement
                                            shall refer to the Share Interest Pledge Agreement (“Share Interest Pledge Agreement”)
                                            executed by and among Party A, Party B and Party C as of the date hereof, whereby Party B
                                            pledges all of its equity interest in Party C to Party A, in order to guarantee Party C’s
                                            performance of its obligations under the Exclusive Business Corporation Agreement executed
                                            by and between Party C and Party A.

 

		1.5	Payment

 

Upon
exercise of the Equity Interest Purchase Option, Party A shall make payment of the Equity Interest Purchase Price set forth in Section1.3
under this Agreement to the Party B.

 

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		2.	Representations
                                            and Warranties

 

Party
B and Party C hereby represent and warrant to Party A, jointly and severally, as of the date of this Agreement and each date of transfer
of the Optioned Interests, that:

 

		2.1	They
                                            have the power and authority to execute and deliver this Agreement and any share transfer
                                            contract to which they are parties concerning the Optioned Interests to be transferred thereunder
                                            for each share transfer (each, a “Transfer Contract”), and to perform their obligations
                                            under this Agreement and any Transfer Contract. Party B and Party C agree to enter into Transfer
                                            Contract(s) consistent with the terms of this Agreement upon Party A’s exercise of
                                            the Equity Interest Purchase Option. This Agreement and the Transfer Contract(s) to which
                                            they are parties constitute or will constitute their legal, valid and binding obligations
                                            and shall be enforceable against them in accordance with the provisions thereof;

 

		2.2	The
                                            execution and delivery of this Agreement or any Transfer Contracts and the performance of
                                            the obligations under this Agreement or any Transfer Contracts shall not: (i) cause any violation
                                            of any applicable law s of China; (ii) be inconsistent with the articles of association,
                                            bylaws or other organizational documents of Party C; (iii ) ca use the violation of any contracts
                                            or instruments to which they are a party or which are binding on them, or constitute any
                                            breach under any contracts or instruments to which they are a party or which are binding
                                            on them; (iv) cause any violation of any condition for the grant and/or continued effectiveness
                                            of any licenses or permits issued to either of them; or (v) ca use the suspension or revocation
                                            of or imposition of additional conditions to any licenses or permits issued to either of
                                            them;

 

	
		2.3	 Each
                                            of Party B has a good and merchantable title to the equity interest in Party C i t holds.
                                            Except for Party B’s Share Pledge Agreement, Party B has not O
                                            place d any security interest on such equity interest;

 

		2.4	Party
                                            C has a good and merchantable title to all of its assets, and has not placed any security
                                            interest on such assets; and

 

		2.5	There
                                            are no pending or threatened litigation, arbitration or administrative proceedings relating
                                            to the equity interest in Party C, assets of Party C or Party C.

 

		3.	Effective
                                            Date

 

This
Agreement shall become effective upon the date hereof, and remain effective for a term of 10 years, and may be renewed at Party A’s
election.

 

		4.	Governing
                                            Law and Resolution of Disputes

 

		4.1	Governing
                                            Law

 

The
execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder
shall be governed by the formally published and publicly available laws of China. Matters not covered by formally published and publicly
available laws of China shall be governed by international legal principles and practices.

 

		4.2	Methods
                                            of Resolution of Disputes

 

In
the event of any dispute with respect to the const ruction and performance of this Agreement, the Parties shall first resolve the dispute
through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party’s
request to the other Parties for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the
China International Economic and Trade Arbitration Commission for arbitration, in accordance with its Arbitration Rules. The arbitration
shall be conducted in Hangzhou, and the language used in arbitration shall be Chinese. The arbitration award shall be final and binding
on all Parties.

.

    3 

    

    

 

		5.	Taxes
                                            and Fees

 

Each
Party shall pay any and all transfer and registration taxes, expenses and fees incurred thereby or levied thereon to itself in accordance
with the laws of China in connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the
consummation of the transactions contemplated under this Agreement and the Transfer Contracts.

 

		6.	Notices

 

		6.1	All
                                            notices and other c01rununications required or permitted to be given pursuant to this Agreement
                                            shall be delivered personally or sent by registered mail, postage prepaid, by a commercial
                                            courier service or by facsimile transmission to the address of such Party set forth below.
                                            A confirmation copy of each notice shall also be sent by email. The dates on which notices
                                            shall be deemed to have been effectively given shall be determined as follows:

 

		6.1.1	Notices
                                            given by personal delivery, by courier service or by registered mail, postage prepaid, shall
                                            be deemed effectively given on the date of receipt or refusal at the address specified for
                                            notices.

 

		6.1.2	Notices
                                            given by facsimile transmission shall be deemed effectively given on the date of successful
                                            transmission (as evidenced by an automatically generated confirmation of transmission).

 

		6.2	For
                                            the purpose of notices, the addresses of the Parties are as follows:

  

Party
A: Nanjing Dingxu Xinhui Technology Co. Ltd.

Address:
Room 501, Building 12, Ideal Mingyuan, No. 88 Gaotang Road, Moling Street, Jiangning District, Nanjing City

Attn:
Chao Chen

Phone:
19962017631

Facsimile:
025-85305277

  

Party
B: Weiming Jin, Xin Jin

Attn:
Weiming Jin

Address:
Building 1, No.7 Yingcui Road, Moling Street, Jiangning District, Nanjing City

Phone:
13309312234

Facsimile:
025-85305277

Attn:
Xin Jin

Address:

Phone:
166230608 72

Facsimile:
025-85305277

 

Party
C: Jiangsu Easy Parking Intelligent Technology Co., Ltd.

Address:
Building 1, No.7 Yingcui Road, Moling Street, Jiangning District, Nanjing City

Attn:
Weiming Jin

Phone:
13309312234

Facsimile:
025-85305277

 

    4 

    

    

 

		6.3	Any
                                            Party may at any time change its address for notices by a notice delivered to the other Parties
                                            in accordance with the terms hereof.

 

		7.	Confidentiality

 

The
Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged among the Parties
in connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain
confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose
any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other
than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable
laws or regulations, rules of any stock exchange, or orders of the court or other governn1ent authorities; or (c) is required to be disclosed
by any Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided
that such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to
those set forth in this Section. Disclosure of any confidential information by the staff members or agencies hired by any Party shall
be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This
Section shall survive the termination of this Agreement for any reason.

 

		8.	Further
                                            Warranties

 

The
Parties agree to promptly execute documents that are reasonably required for or are conducive to the implementation of the provisions
and purposes of this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the
provisions and purposes of this Agreement.

 

		9.	Miscellaneous

 

		9.1	Amendment,
                                            Change and Supplement

 

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

 

		9.2	Entire
                                            agreement

 

Except
for the amendments, changes or supplements in writing executed after the execution of this Agreement, this Agreement shall constitute
the entire agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supersede all prior
oral and written consultations, representations and contracts reached with respect to the subject matter of this Agreement.

 

		9.3	Headings

 

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

 

		9.4	Language

 

This
Agreement is written in both Chinese and English language in three copies, each Party having one copy with equal legal validity; in case
there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

 

    5 

    

    

 

		9.5	Severability

 

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

 

		9.6	Successors

 

This
Agreement shall be binding on and shall inure to the interest of the respective successors of the Parties and the permitted assigns of
such Parties.

 

		9.7	Survival

 

		9.7.1	Any
                                            obligations that occur or that are due as a result of this Agreement upon the expiration
                                            or early termination of this Agreement shall survive the expiration or early termination
                                            thereof.

 

		9.7.2	The
                                            provisions of Sections 4, 6, 7 and this Section 9.7 shall survive the termination of this
                                            Agreement.

 

The
Remainder of this page is intentionally left blank

 

    6 

    

    

 

IN
WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Agreement as of the date first above written.

 

	Party
    A: Nanjing Dingxu Xinhui Technolo gy C o. Ltd.	 
	 	 
	By:	/s/
    Chao Chen	 
	Title:	Legal
    Representative	 
	 	 	 
	Party
    B: Weiming Jin and Xin Jin	 
	 	 
	By:	/s/
    Weiming Jin	 
	 	/s/
    Xin Jin	 
	 	 	 
	Party
    C: Jiangsu Easy Parking Intelligent Technology Co., Ltd.	 
	 	 
	By:	/s/
    Xin Jin	 
	Title:	Legal
    Representative	 

 

 

7

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