Document:

Exhibit 10.56

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement
(“Subscription Agreement”), is made by and between SEVEN STARS CLOUD GROUP, INC., a Nevada corporation
(the “Company”) and GT DOLLAR PTE. LTD., a Singaporean corporation (“Subscriber”)
as of the date this Subscription Agreement is accepted by the Company, as set forth on the Company’s signature page hereto.

 

WHEREAS, subject to
the terms and conditions set forth in this Agreement, and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended
(the “Securities Act”), Rule 506 promulgated thereunder and/or Regulation S under the Securities Act, the Company
desires to issue and sell to the Subscriber, and the Subscriber desires to purchase from the Company, for the purchase price of
Twenty Five Million Sixty Six Thousand Eight Hundred Seventy Eight Dollars and Twenty Cents ($25,066,878.20), that number of shares
of the Company’s common stock, at the price of One Dollar and Eighty-Two cents ($1.82) per share (“Common Stock”)
set forth on the signature page hereto, to persons who are not U.S. persons under Regulation S and persons who are “accredited
investors” (as defined in Rule 501 of Regulation D under the Securities Act), in a private placement (the “Offering”);
and

 

WHEREAS, the Subscriber
understands that the Offering is being made without registration of the Common Stock under the Securities Act of 1933, as amended
(the “Securities Act”), or any securities law of any state of the United States or of any other jurisdiction,
and is being made only to “accredited investors” or non-U.S. persons.

 

NOW, THEREFORE, for
and in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows:

 

1. Subscription
for Securities.

 

(a) Subscription
for Securities. Subject to the terms and conditions hereinafter set forth, Subscriber hereby irrevocably subscribes for and
agrees to purchase from the Company such amounts of Common Stock as is set forth on the signature page hereof (the “Shares”)
at a price of $1.82 per Share, for an aggregate purchase price of Twenty Five Million Sixty Six Thousand Eight Hundred Seventy
Eight Dollars and Twenty Cents ($25,066,878.20) (the “Purchase Price”), and the Company agrees to sell such
Shares to Subscriber for the Purchase Price, subject to the Company’s right, in its sole discretion, to reject this subscription,
in whole or in part, at any time prior to the Closing (as defined below). Subscriber acknowledges that the Shares will be subject
to restrictions on transfer as set forth in this Subscription Agreement. Subscriber further acknowledges that absent receipt of
the necessary stockholder approval and certain other conditions, the Company is prevented from issuing to the Subscriber an amount
of shares of the Company’s common stock in excess of 19.9% of the Company’s aggregate shares of common stock outstanding
immediately prior to the Closing.

 

2. Terms of Subscription.

 

(a) Payment.
Subscriber shall make payment for the Shares by wire transfer of immediately available funds to an account designated by the Company
in the amount of Twenty Five Million Sixty Six Thousand Eight Hundred Seventy Eight Dollars Twenty Cents ($25,066,878.20) after
signing this Subscription Agreement on or prior to March 31, 2018.

 

(b) Promissory
Notes. Company shall issue to Subscriber two promissory notes – one for Ten Million Dollars (10,000,000), and one for
Four Million Nine Hundred Thirty Three Thousand One Hundred Twenty One Dollars and Eighty Cents ($4,933,121.80), bringing Subscriber’s
total investment into the Company to Forty Million US Dollars (40,000,000).

 

(c)
Acceptance of Subscription and Issuance of Shares. It is understood and agreed that the Company shall have the sole right,
at its complete discretion, to accept or reject this subscription, in whole or in part, for any reason and that the same shall
be deemed to be accepted by the Company only when it is signed by a duly authorized officer of the Company and delivered to the
undersigned at the Closing (as defined below). Notwithstanding anything in this Subscription Agreement to the contrary, the Company
shall have no obligation to issue any of the Shares to any person who is a resident of a jurisdiction in which the issuance of
Shares to such person would constitute a violation of the securities, “blue sky” or other similar laws.

 

    	 	1	 

     

    

 

 

(d) Closing.
The Offering may be consummated at such place (or by electronic transmission) as may be mutually agreed upon by the parties at
a closing (the “Closing”) to occur on a date as may be determined by the Company, at a time as may be determined
by the Company. Subsequent closings may occur at the discretion of the Company.

 

(e) Closing
Deliverables. At the Closing: (i) Subscriber shall deliver the Purchase Price; and (ii) the Company shall deliver a share certificate
representing the Shares to Subscriber that bears an appropriate legend referring to the fact that the Shares are subject to transfer
restrictions as set forth in the Securities Act.

 

(f) Lockup
Period. In exchange for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Subscriber agrees
that, during the period beginning on the date this Agreement (and any subsequent Agreement designating the issuance of additional
Company shares to Subscriber) is fully executed and ending on the nine month anniversary thereof, Subscriber will not (and will
cause any spouse, domestic partner, lineal descendant, parent, stepparent, sibling, stepsibling, uncle, aunt, niece, nephew, first
cousin, or any other person with whom the undersigned has a relationship by blood, marriage or adoption not to), without the prior
written consent of the Company, directly or indirectly, (i) sell, offer to sell, contract to sell or lend, pledge, hypothecate
or grant any security interest in, or in any other way transfer or dispose of, any purchased Shares whether now owned or hereafter
acquired by Subscriber (collectively, the “Lock-Up Securities”), (ii) make any demand for, or exercise any right with
respect to the registration of any of the Lock-Up Securities, or the filing of any registration statement, prospectus or prospectus
supplement, (iii) enter into any swap, hedge or any other agreement or any transaction that transfers, in whole or in part,
the economic consequence of ownership of the Lock-Up Securities or (iv) publicly announce the intention to do any of the foregoing.

 

3. Representations
and Warranties of Subscriber.

 

Subscriber represents
and warrants to the Company that:

 

(a) Reliance
on Exemptions. Subscriber understands that the Shares are being offered and sold in reliance upon specific exemptions from
registration provided in the Securities Act, and upon exemptions from registration under State securities laws, and acknowledges
that the Offering has not been reviewed by the Securities and Exchange Commission or any state agency because it is intended to
be a nonpublic offering exempt from the registration requirements of the Securities Act and State securities laws. Subscriber understands
that the Company is relying upon, and intends that the Company rely upon, the truth and accuracy of, and Subscriber’s compliance
with, the representations, warranties, agreements, acknowledgments and understandings of Subscriber set forth herein in order to
determine the availability of such exemptions and the eligibility of Subscriber to acquire the Shares.

 

(b) Investment
Purpose. The undersigned is either (i) an “accredited investor” if a U.S. investor, or (ii) not a U.S. person as
defined under Rule 902 of Regulation S, and the Shares are being purchased for Subscriber’s own account, for investment purposes
only and not for distribution or resale to others in contravention of the registration requirements of the Securities Act. Subscriber
agrees that it will not sell or otherwise transfer the Shares unless they are registered under the Securities Act or unless an
exemption from such registration is available under the Securities Act and permitted by the certificate of incorporation of the
Company. Subscriber has no contract, undertaking, agreement, or arrangement with any person to sell, distribute, transfer, or pledge
to such person or anyone else the Shares which Subscriber hereby subscribes to purchase, or any interest therein, and Subscriber
has no present plans to enter into any such contract, undertaking, agreement, or arrangement. Subscriber agrees that the Company
and its affiliates shall not be required to give effect to any purported transfer of such Shares except upon compliance with the
foregoing restrictions.

 

(c)
Accredited Investor. Subscriber, is an “accredited investor” as such term is defined in Rule 501 of Regulation
D promulgated under the Securities Act, as amended to date, a summary of which is attached hereto as Exhibit B, and
Subscriber is able to bear the economic risk of any investment in the Shares and in the Company. Subscriber shall complete and
deliver to the Company prior to Closing an executed copy of the Accredited Investor Questionnaire attached hereto as Exhibit
A.

 

    	 	2	 

     

    

 

(d) Risk
of Investment. Subscriber recognizes that the purchase of the Shares involves a high degree of risk in that: (i) an investment
in the Company is highly speculative and only investors who can afford the loss of their entire investment should consider investing
in the Company and the Shares; (ii) transferability of the Shares is limited; and (iii) the Company may require substantial additional
funds to operate its business and there can be no assurance that the Offering will be completed.

 

(e) Use
of Proceeds. Subscriber understands that the net proceeds of the Offering will be used for the Company’s operations,
mainly the expansion of digital asset business, particularly in the area of entertainment, intellectual property, arts, and medical
asset.

 

(f) Prior
Investment Experience. Subscriber understands the business in which the Company is engaged and has such knowledge and experience
in business and financial matters that Subscriber is capable of evaluating the merits and risks of the investment in the Shares.
Subscriber has prior investment experience, and Subscriber recognizes the highly speculative nature of this investment.

 

(g) Information
and Non-Reliance.

 

(i) Subscriber
acknowledges that Subscriber has carefully reviewed this Subscription Agreement, which Subscriber acknowledges has been provided
to Subscriber. Subscriber has been given the opportunity to ask questions of, and receive answers from, the Company concerning
the terms and conditions of this Offering and the Subscription Agreement and to obtain such additional information, to the extent
the Company possesses such information or can acquire it without unreasonable effort or expense, necessary to verify the accuracy
of same as Subscriber reasonably desires in order to evaluate the investment. Subscriber understands the Subscription Agreement,
and Subscriber has had the opportunity to discuss any questions regarding the Subscription Agreement with Subscriber’s counsel
or other advisor. Notwithstanding the foregoing, the only information upon which Subscriber has relied is that set forth in the
Subscription Agreement and the results of independent investigation by Subscriber. Subscriber has received no representations or
warranties from the Company, its employees, agents or attorneys in making this investment decision other than as set forth in the
Subscription Agreement. Subscriber does not desire to receive any further information.

 

(ii) The Subscriber
represents that it is not relying on (and will not at any time rely on) any communication (written or oral) of the Company, as
investment advice or as a recommendation to purchase the Shares, it being understood that information and explanations related
to the terms and conditions of the Shares and the Subscription Agreement shall not be considered investment advice or a recommendation
to purchase the Shares.

 

(iii) The Subscriber
confirms that the Company has not (i) given any guarantee or representation as to the potential success, return, effect or benefit
(either legal, regulatory, tax, financial, accounting or otherwise) of an investment in the Shares or (ii) made any representation
to the Subscriber regarding the legality of an investment in the Shares under applicable legal investment or similar laws or regulations.
In deciding to purchase the Shares, the Subscriber is not relying on the advice or recommendations of the Company and the Subscriber
has made its own independent decision that the investment in the Shares is suitable and appropriate for the Subscriber. 

 

(h)
Tax Consequences. Subscriber acknowledges that the Offering may involve tax consequences and that the contents of the Subscription
Agreement do not contain tax advice or information. Subscriber acknowledges that Subscriber must retain Subscriber’s own
professional advisors to evaluate the tax and other consequences of an investment in the Shares. Subscriber intends to acquire
the Shares without regard to tax consequences.

 

    	 	3	 

     

    

 

(i) Transfer
or Resale. The Subscriber is acquiring the Shares solely for the Subscriber’s own beneficial account, for investment
purposes, and not with a view to, or for resale in connection with, any distribution of the Shares. Subscriber understands that
the Shares have not been registered under the Securities Act or the securities laws of any state and, as a result thereof, are
subject to substantial restrictions on transfer. Subscriber acknowledges that Subscriber may be precluded from selling or otherwise
disposing of the Shares for an indefinite period of time. Subscriber consents that the Company may, if it desires, permit the transfer
of the Shares out of Subscriber’s name only when Subscriber’s request for transfer is accompanied by an opinion of
counsel reasonably satisfactory to the Company that neither the sale nor the proposed transfer results in a violation of the Securities
Act or any applicable state “blue sky” laws.

 

(j) No
General Solicitation. Subscriber was not induced to invest in the Company or in the Shares by any form of general solicitation
or general advertising including, but not limited to, the following: (i) any advertisement, article, notice or other communication
published in any newspaper, magazine or similar media or broadcast over the news or radio; (ii) any seminar or meeting whose attendees
were invited by any general solicitation or advertising; and (iii) any solicitation within the United States.

 

(k) Due
Authorization; Enforcement. Subscriber has all requisite power and authority (and in the case of an individual, capacity) to
purchase and hold the Shares, to execute, deliver and perform Subscriber’s obligations under this Subscription Agreement
and when executed and delivered by Subscriber, this Subscription Agreement will constitute legal, valid and binding agreements
of Subscriber enforceable against Subscriber in accordance with their terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights
generally, and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

(l) Address.
The residence address of Subscriber furnished by Subscriber on the signature page hereto is Subscriber’s principal residence
if Subscriber is an individual or its principal business address if it is a corporation, partnership, trust or other entity.

 

(m) Compliance
with Laws. The Subscriber will comply with all applicable laws and regulations in effect in any jurisdiction in which the Subscriber
purchases or sells Shares and obtain any consent, approval or permission required for such purchases or sales under the laws and
regulations of any jurisdiction to which the Subscriber is subject or in which the Subscriber makes such purchases or sales, and
the Company shall have no responsibility therefore.

 

(n) Accuracy
of Representations and Warranties. The information set forth herein concerning Subscriber is true and correct. The Subscriber
understands that, unless the Subscriber notifies the Company in writing to the contrary at or before the Closing, each of the Subscriber’s
representations and warranties contained in this Subscription Agreement will be deemed to have been reaffirmed and confirmed as
of the Closing, taking into account all information received by the Subscriber.

 

(o) Entity
Representation. If Subscriber is a corporation, partnership, trust or other entity, such entity further represents and warrants
that it was not formed for the purpose of investing in the Company.

 

4. Representations
and Warranties of the Company.

 

The Company represents
and warrants to Subscriber that:

 

(a) Organization.
The Company is organized and validly existing in good standing under the laws of the State of Nevada.

 

(b)
Due Authorization, Enforcement and Valid Issuance. The Company has all requisite power and authority to execute, deliver
and perform its obligations under this Subscription Agreement, and when executed and delivered by the Company, this Subscription
Agreement will constitute legal, valid and binding agreements of the Company enforceable against the Company in accordance with
its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting creditors’ and contracting parties’ rights generally, and except as enforceability may be subject to
general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). The
Shares have been duly authorized and, when issued and paid for in accordance with the terms of this Subscription Agreement, will
be duly and validly issued, fully paid and nonassessable.

 

    	 	4	 

     

    

 

(c) Noncontravention.
The execution and delivery of this Subscription Agreement and the consummation of the transactions contemplated hereby will not
conflict with or constitute a violation of, or default under (i) any material agreement to which the Company is a party or by which
it or any of its properties are bound or (ii) the organizational documents of the Company.

 

5. Conditions to Obligations of the Subscriber
and the Company.

 

The obligations
of the Subscriber to purchase and pay for the Shares specified on the signature page hereof and of the Company to sell the Shares
are subject to the satisfaction at or prior to the Closing of the following conditions precedent:

 

(a) Representations
and Warranties. The representations and warranties of the Subscriber contained in Section 3 hereof and of the Company
contained in Section 4 hereof shall be true and correct as of the Closing in all respects with the same effect as though
such representations and warranties had been made as of the Closing. 

 

6. Legends.

 

The certificates
representing the Securities sold pursuant to this Subscription Agreement will be imprinted with legends in substantially the following
form:

 

“THE SECURITIES REPRESENTED
HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”).
SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT,
THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.”

 

and other legend language that may be determined
by the Company and its counsel from time to time.

 

7. Miscellaneous

 

(a) Notice.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Subscription Agreement
must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party); or (iii) one (1) business day after deposit with an overnight courier service, in each case properly addressed to the party
to receive the same. The addresses and facsimile numbers for such communications shall be:

 

    	 	5	 

     

    

 

	 	If to the

                                                                                Company:
	 

SEVEN STARS CLOUD GROUP, INC.

No. 4 Drive-in Movie Theater Park, No. 21 Liangmaqiao
Road Chaoyang, District, Beijing, P.R.C. 100125

Attn: Legal Department

	 	with a copy

                                                                                to:
	 

Cooley LLP

1114 Avenue of the Americas

New York, NY 10036-7798

Attention: William N. Haddad

 

		If to Subscriber,	

GT Dollar Ptd. Ltd.

10 Kallang
Avenue,

Aperia Tower
2 #13-18, Postal Code 339510

Attn: Legal
Department

 

(b) Entire
Agreement; Amendment. This Subscription Agreement, which includes the exhibits referred to herein, supersedes all other prior
oral or written agreements between Subscriber, the Company, their affiliates and persons acting on their behalf with respect to
the matters discussed herein, and constitutes the entire understanding of the parties with respect to the matters covered herein.
No provision of this Subscription Agreement may be amended or waived other than by an instrument in writing signed by the Company
and Subscriber.

 

(c) Severability.
If any provision of this Subscription Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability
shall not affect the validity or enforceability of the remainder of this Subscription Agreement in that jurisdiction or the validity
or enforceability of any provision of this Subscription Agreement in any other jurisdiction.

 

(d) Governing
Law. This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, without
giving effect to any choice of law or conflict of law provision or rule.

 

(e) Successors
and Assigns. This Subscription Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns. Subscriber shall not assign its rights hereunder without the prior written consent of the Company.

 

(f) No
Third-Party Beneficiaries. This Subscription Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

(g) Notification
of Changes. The Subscriber hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the
closing of the purchase of the Shares pursuant to this Subscription Agreement which would cause any representation, warranty or
covenant of the Subscriber contained in this Subscription Agreement to be false or incorrect.

 

(h) Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Subscription Agreement and the consummation of the transactions
contemplated hereby.

 

(i)
Legal Representation. Subscriber acknowledges that: (i) Subscriber has read this Subscription Agreement and the exhibits
referred to herein; (ii) Subscriber understands that the Company has been represented in the preparation, negotiation and execution
of the Subscription Agreement; and (iii) Subscriber understands the terms and conditions of the Subscription Agreement and is fully
aware of their legal and binding effect

 

    	 	6	 

     

    

 

(j) Expenses.
Each party will bear its own costs and expenses (including legal and accounting fees and expenses) incurred in connection with
this Subscription Agreement and the transactions contemplated hereby.

 

(k) Counterparts.
This Subscription Agreement may be executed in counterparts, all of which shall be considered one and the same agreement. The exchange
of signature pages by facsimile transmission, by electronic mail in “portable document format” (“.pdf”)
form or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document shall constitute
effective execution and delivery of this Agreement as to the parties.

 

[SIGNATURE PAGES FOLLOW]

 

 

    	 	7	 

     

    

 

 

SUBSCRIBER
SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT

 

IN WITNESS WHEREOF,
and intending to be legally bound hereby, Subscriber has caused this Subscription Agreement to be duly executed and, by executing
this signature page, hereby executes, adopts and agrees to all terms, conditions, and representations contained in the foregoing
Subscription Agreement and hereby subscribes for the Shares offered by the Company in the amount set forth below.

 

SUBSCRIBER:

 

	

                                                                                /s/ Chan Cheh Shin
	 
	GT DOLLAR PTE. LTD	 
	Name: Chan Cheh Shin	 
	Title: Vice President	 
	Date: March 16, 2018	 
	
         

        Number of Shares subscribed for:
	

         

	 	 
	13,773,010 shares of Common Stock at $1.82

                                                                           per share
	 
	 	 
	
        

        Total Purchase Price for the Securities:

        $25,066,878.20
	 

	 	 
	Registered & Mailing Address:	 
	GT Dollar Pte Ltd	 
	10 Kallang Avenue,	 
	Aperia
Tower 2 #13-18, Postal Code 339510	 
	Singapore	 

 

    	 	8	 

     

    

 

 

 

COMPANY SIGNATURE PAGE TO SUBSCRIPTION
AGREEMENT

 

–PLEASE DO NOT WRITE BELOW THIS
LINE –

 

COMPANY USE ONLY

 

	 	Accepted and Agreed:
	 	 
	 	SEVEN STARS CLOUD GROUP, INC.
	 	 	 
	 	By:	/s/ Bruno Wu
	 	Name:	Bruno Wu
	 	Title:	Chairman and CEO
	 	 	 
	 	As
    of: March 17, 2018

 

 

    	 	9	 

     

    

 

 

EXHIBIT
A

 

Confidential
Accredited Investor Questionnaire

 

To: SEVEN STARS CLOUD GROUP, INC.

 

SEVEN STARS CLOUD GROUP, INC., a Nevada
corporation (the “Company”), is offering in a private placement (“Offering”) pursuant to
an accompanying subscription agreement, including, without limitation, all exhibits and annexes made a part thereto (collectively,
the “Subscription Agreement”) shares of its Common Stock, at price of $1.82 per share (the “Shares”).
The undersigned Subscriber is purchasing Shares pursuant to the Offering and acknowledges that all capitalized terms not otherwise
defined herein have the meanings set forth in the Subscription Agreement.

 

I. The Subscriber represents
and warrants that he or it comes within one category marked below, and that for any category marked, he or it has truthfully
set forth, where applicable, the factual basis or reason the Subscriber comes within that category. ALL INFORMATION IN RESPONSE
TO THIS SECTION WILL BE KEPT STRICTLY CONFIDENTIAL EXCEPT AS NECESSARY FOR THE COMPANY TO COMPLY WITH LAW AND/OR ANY RULES PROMULGATED
BY ANY REGULATORY AGENCY. The undersigned shall furnish any additional information which the Company deems necessary in order to
verify the answers set forth below.

 

	Category A__X___	The undersigned is an individual (not a partnership, corporation, etc.) whose individual net worth, or joint net worth with his or her spouse, presently exceeds $1,000,000.
	 	 
	 	Explanation. In calculating net worth you may include equity in personal property and real estate (other than the value, after deducting mortgage obligations, of Subscriber’s principal residence which may not be included in such net worth calculation), cash, short-term investments, stock and securities. Equity in personal property and real estate should be based on the fair market value of such property less debt secured by such property.
	 	 
	Category B_____	The undersigned is an individual (not a partnership, corporation, etc.) who had an individual income in excess of $200,000 in each of the two most recent years, or joint income with his or her spouse in excess of $300,000 in each of those years (in each case including foreign income, tax exempt income and full amount of capital gains and losses but excluding any income of other family members and any unrealized capital appreciation) and has a reasonable expectation of reaching the same income level in the current year.
	 	 
	Category C_____	The undersigned is a director or executive officer of the Company which is issuing and selling the Shares.
	 	 
	Category D_____	The undersigned is a bank; a savings and loan association; insurance company; registered investment company; registered business development company; licensed small business investment company (“SBIC”); or employee benefit plan within the meaning of Title 1 of ERISA and (a) the investment decision is made by a plan fiduciary which is either a bank, savings and loan association, insurance company or registered investment advisor, or (b) the plan has total assets in excess of $5,000,000 or is a self directed plan with investment decisions made solely by persons that are accredited investors.

 

	 	 
	 	 
	 	(describe entity)

  

 

	Category E_____	The undersigned is a private business development company as defined in section 202(a)(22) of the Investment Advisors Act of 1940.

 

	 	 
	 	 
	 	(describe entity)

 

	Category F_X____	The undersigned is either a corporation, partnership, Massachusetts business trust, or non-profit organization within the meaning of Section 501(c)(3) of the Internal Revenue Code, in each case not formed for the specific purpose of acquiring the Shares and with total assets in excess of $5,000,000.

 

	 	 
	 	 
	 	(describe entity)

 

    	 	10	 

     

    

 

	Category G_____	The undersigned is a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Shares, where the purchase is directed by a “sophisticated person” as defined in Regulation 506(b)(2)(ii) under the Securities Act of 1933.
	 	 
	Category H_____	The undersigned is an entity (other than a trust) all the equity owners of which are “accredited investors” within one or more of the above categories. If relying upon this Category alone, each equity owner must complete a separate copy of this Agreement.

 

	 	 
	 	 
	 	(describe entity)

 

	Category I_____	The undersigned is not within any of the categories above and is therefore not an accredited investor.

 

For purposes hereof, “individual
income” means adjusted gross income less any income attributable to a spouse or to property owned by a spouse, increased
by the following amounts (but not including any amounts attributable to a spouse or to property owned by a spouse): (i) the amount
of any interest income received which is tax-exempt under Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”),
(ii) the amount of losses claimed as a limited partner in a limited partnership (as reported on Schedule E of Form 1040), (iii)
any deduction claimed for depletion under Section 611 et seq. of the Code, and (iv) any amount by which income from long-term capital
gains has been reduced in arriving at adjusted gross income pursuant to the provisions of Section 12.02 of the Code.

 

The undersigned agrees that
the undersigned will notify the Company at any time on or prior to the execution of the Subscription Agreement or this Questionnaire
in the event that the representations and warranties in the Subscription Agreement or in this Questionnaire shall cease to be true,
accurate and complete. 

 

	II.	Disqualification Events.

 

	1.	Certain Criminal Convictions.

 

Have you been convicted, within
the past ten (10) years (or five (5) years, in the case of the Company, its predecessors and affiliated issuers), of any felony
or misdemeanor involving:

 

	 	 ̈	in connection with the purchase or sale of any security;
	 	 ̈	involving the making of any false filing with the SEC; or
	 	 ̈	arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities?

 

  ̈
Yes. If yes, please explain:

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

  ̈
No.

 

	2.	Certain Court Injunctions and Restraining Orders.

 

Are you subject to any order,
judgment or decree of any court of competent jurisdiction that was entered within the past five (5) years and currently restrains
or enjoins you from engaging in any conduct or practice:

 

	 	 ̈	in connection with the purchase or sale of any security;
	 	 ̈	involving the making of any false filing with the SEC; or
	 	 ̈	arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers of securities?

 

  ̈
Yes. If yes, please explain:

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

  ̈
No.

 

    	 	11	 

     

    

 

	3.	Final Orders of Certain State and Federal Regulators.

 

Are you subject to a Final Order
(as defined below) of state regulators of securities, insurance, banking, savings associations or credit unions; federal banking
agencies; the Commodity Futures Trading Commission; or the National Credit Union Administration that:

 

	 ̈	bars you from:

 

	 	 ̈	associating with an entity regulated by any of the aforementioned regulators;
	 	 ̈	engaging in the business of securities, insurance or banking; or
	 	 ̈	engaging in savings association or credit union activities; or

 

	 ̈	constitutes a Final Order based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct entered within the past ten (10) years?

 

  ̈
Yes. If yes, please explain:

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

  ̈
No.

 

 

The term “Final Order” means
a written directive or declaratory statement issued by a federal or state agency described in Rule 506(d)(1)(iii) under the Securities
Act of 1933 under applicable statutory authority that provides for notice and an opportunity for a hearing, which constitutes a
final disposition or action by that federal or state agency.

 

	4.	SEC Disciplinary Orders.

 

Are you subject to any order of the Securities and
Exchange Commission (“SEC”) that currently:

 

	 	 ̈	suspends or revokes your registration as a broker, dealer, municipal securities dealer or investment adviser;
	 	 ̈	places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person; or
	 	 ̈	bars you from being associated with any entity or from participating in the offering of any penny stock?1

 

  ̈
Yes. If yes, please explain:

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

  ̈
No.

 

 

 

1 A disqualification based on
a suspension or limitation of activities expires when the suspension or limitation expires.

 

    	 	12	 

     

    

 

	5.	SEC Cease-and-Desist Orders.

 

Are you subject to any order
of the SEC that was entered within the past five (5) years and currently orders you to cease and desist from committing or causing
a future violation of:

 

	 	 ̈	any scienter-based (intent-based) anti-fraud provision of the federal securities laws (including, for example, but not limited to):

 

	 	 ̈	Section 17(a)(1) of the Securities Act of 1933,
	 	 ̈	Section 10(b) of the Exchange Act and Rule 10b-5, and
	 	 ̈	Section 15 (c) (1) of the Securities Exchange Act); or

 

	 	 ̈	Section 5 of the Securities Act, of 1933, which generally requires that securities be registered and prohibits the sale of unregistered securities.

 

  ̈Yes. If yes, please explain:

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

  ̈
No.

 

	6.	SRO Suspension/Expulsion.

 

Have you been suspended or expelled
from membership in, or suspended or barred from association with a member of, a securities self-regulatory organization (“SRO”,
such as a registered national securities exchange or a registered national or affiliated securities association, including FINRA)
for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?

 

  ̈
Yes. If yes, please explain:

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

☐ No.

 

	7.	SEC Stop Orders.

 

Have you filed (as a registrant
or issuer), or were you named as an underwriter in any registration statement or Regulation A offering statement filed with the
SEC that, within the past five (5) years, was the subject of a refusal order, stop order, or order suspending the Regulation A
exemption, or is currently the subject of an investigation or proceeding to determine whether a stop order or suspension order
should be issued?

 

  ̈
Yes. If yes, please explain:

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

  ̈
No.

 

	8. 	USPS False Representations Order.

 

Are you subject to a United States Postal Service
(“USPS”) false representation order entered within the past five (5) years, or are you currently subject to
a temporary restraining order or preliminary injunction with respect to conduct alleged by the USPS to constitute a scheme or device
for obtaining money or property through the mail by means of false representations?

 

  ̈
Yes. If yes, please explain:

 _____________________________________________________________________________

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

 ̈
No. 

 

III. The undersigned is informed of the
significance to the Company of the foregoing representations and answers contained in this Questionnaire contained herein and such
answers have been provided under the assumption that the Company will rely on them.

 

    	 	13	 

     

    

 

IV. In furnishing the above information,
the undersigned acknowledges that the Company will be relying thereon in determining, among other things, whether there are reasonable
grounds to believe that the undersigned qualifies as a Purchaser under Section 4(a)(2) and/or Regulation D of the Securities Act
of 1933 and applicable state securities laws for the purposes of the proposed investment.

 

V. The undersigned understands and agrees
that the Company may request further information of the undersigned in verification or amplification of the undersigned’s
knowledge of business affairs, the undersigned’s assets and the undersigned’s ability to bear the economic risk involved
in an investment in the securities of the Company.

 

VI. The undersigned represents to you that
(a) the information contained herein is complete and accurate on the date hereof and may be relied upon by you, (b) the undersigned
will notify you immediately of any change in any such information occurring prior to the acceptance of the subscription and will
promptly send you written confirmation of such change. The undersigned hereby certifies that he, she or it has read and understands
the Subscription Agreement related hereto and (c) the undersigned acknowledges that you may be required to publicly disclose the
information provided in this Questionnaire and that he or it consents to such public disclosure.

 

VII. INFORMATION VERIFICATION CONSENT.

 

BY SIGNING THIS QUESTIONNAIRE,
SUBSCRIBER HEREBY GRANTS THE COMPANY PERMISSION TO REVIEW ALL PUBLICLY AVAILABLE INFORMATION REGARDING SUBSCRIBER, INCLUDING, BUT
NOT LIMITED TO INFORMATION PROVIDED BY THE OFFICE OF FOREIGN ASSETS CONTROL (“OFAC”) FOR THE PURPOSE OF VERIFYING
INFORMATION PROVIDED BY SUBSCRIBER HEREIN.

 

[SIGNATURE PAGE FOLLOWS]

 

 

    	 	14	 

     

    

 

 

INVESTOR QUESTIONNAIRE EXECUTION PAGE

 

	
        /s/Chan Cheh Shin
	 
	Signature	 
	 	 
	Chan Cheh Shin	 
	Name Typed or Printed	 
	 	 
	GT DOLLAR PTD. LTD.	 
	Entity Name	 
	 	 
	10 Kallang Avenue, Aperia Tower 2,  	 
	 	 
	 	 
	Postal Code 339510  SINGAPORE	 
	City, State and Zip Code	 

 

 

    	 	15	 

     

    

 

 

EXHIBIT
B

 

DEFINITION
OF ACCREDITED INVESTOR

 

“Accredited investor”
means any person who comes within any of the following categories, or who the Company reasonably believes comes within any of the
following categories, at the time of the sale of the Shares to that person:

 

	 	1.	Any bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934; any insurance company as defined in Section 2(13) of the Securities Act; any investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act; any Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the Small Business Investment Act of 1958; any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors;

 

	 	2.	Any private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;

 

	 	3.	Any organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the Shares offered, with total assets in excess of $5,000,000;

 

	 	4.	Any director, executive officer, or general partner of the issuer of the Company, or any director or executive officer of the Company;

 

	 	5.	Any natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of his purchase exceeds $1,000,000, provided that for purposes of this item 5, “net worth” means the excess of total assets at fair market value (including personal and real property, but excluding the value of a person’s primary home) over total liabilities (excluding any mortgage on the primary home in an amount of up to the home’s fair market value, but including any mortgage amount in excess of the home’s fair market value);

 

	 	6.	Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year, provided that for purposes of this item 6, “income” means annual adjusted gross income, as reported for federal income tax purposes, plus (a) the amount of any tax-exempt interest income received; (b) the amount of losses claimed as a limited partner in a limited partnership; (c) any deduction claimed for depletion; (d) amounts contributed to an IRA or Keogh retirement plan; (e) alimony paid; and (f) any amount by which income from long-term capital gains has been reduced in arriving at adjusted gross income pursuant to the provisions of Section 1202 of the Internal Revenue Code of 1986, as amended;

 

	 	7.	Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Shares offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii); and

 

	 	8.	Any entity in which all of the equity owners are accredited investors.

 

    	 	16Exhibit 10.57

 

Execution Version

 

THIS CONVERTIBLE PROMISSORY NOTE
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE
WITH RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR PURCHASER SATISFACTORY
TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO- ACTION LETTER FROM THE SECURITIES AND EXCHANGE
COMMISSION.

 

SEVEN
STARS CLOUD GROUP, INC.

 

CONVERTIBLE
PROMISSORY NOTE

 

	U.S. $10,000,000	Date of Issuance:
                                         __, 2018

 

FOR
VALUE RECEIVED, Seven Stars Cloud Group, Inc., a Nevada corporation (the “Company”), hereby promises to pay
to the order of GT Dollar PTE, Ltd., a Singaporean corporation (“GT”), the aggregate principal sum of Ten Million
US Dollars ($10,000,000) (the “Principal”) in lawful money of the United States of America and in immediately
available funds, subject to the provisions contained herein. The Company and GT shall be collectively referred to as the “Parties”.
Unless otherwise expressly provided in this Note, initially capitalized words or terms used in this Note shall have the meanings
set forth in the Purchase Agreement.

 

		1.	PRINCIPAL REPAYMENT

 

1.1                 
Maturity Date. The Principal and any other amounts payable to GT hereunder, shall be due and payable to GT on December
31, 2019 (the “Maturity Date”).

 

1.2                 
Interest. Interest will accrue from the date hereof on the Principal amount at the rate of fifty-six one hundredths
of a percent (0.56%) per annum until payment in full or until the conversion of the Principal pursuant to Section 2 of this
Note. If the Principal is not converted pursuant to Section 2 of this Note, interest shall be paid with the Principal amount
on the Maturity Date. If the Principal is converted pursuant to Section 2 of this Note, interest accrued through the Conversion
Date shall be paid on the Conversion Date in accordance with Section 2 of this Note.

 

1.3                 
Payment. All payments made pursuant to this Note shall be made by check or wire transfer of immediately available
funds and in lawful money of the United States of America to GT at the address for notices pursuant to Section 5.4 below or at
such other place as GT may designate. Any payment on this Note shall be applied first to accrued interest, then to other amounts
owing hereunder, and thereafter to the outstanding principal balance hereof.

 

1.4                 
Prepayment. The Company shall have the option to prepay this Note, together with accrued but unpaid interest, in
whole or in part, at any time without premium or penalty.

 

		2.	CONVERSION

 

2.1                 
Limitation on Conversion Pending Stockholder Approval. The Parties acknowledge and agree that, absent receipt of
the necessary stockholder approval and fulfilment of the other Conversion. Conditions as set forth in Section 2.2 below, the Company
shall not effect any conversion, and GT shall not have any right to convert, any portion of this Note into shares of common stock
of the Company (the “Common Stock”). GT shall not be entitled to vote any shares of Common Stock acquired by it pursuant
to this Note or any other Company Agreements in connection with any such stockholder approval sought by the Company.

 

2.2                 
Stockholder Approval. As promptly as practicable after the Closing of this Note, the Company covenants and agrees
to use commercially reasonable efforts to (i) obtain any approvals of the Company’s stockholders required under the Company’s
organizational documents, applicable law and/or the listing rules and regulations of NASDAQ in connection with the transactions
contemplated by this Note, (ii) file an Information Statement pursuant to Section 14(c) of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder with the Securities and
Exchange Commission with regard to the transactions contemplated by this Note (the “Information Statement”), and (iii)
mail the definitive Information Statement to the Company’s stockholders (the “Conversion Conditions”).

 

2.3                 
Automatic Conversion into Common Stock. Subject
to Section 2.1, upon satisfaction of the Conversion Conditions, all of the Principal and accrued but unpaid interest shall
be automatically converted into shares of the Common Stock at a conversion rate of $1.82 per share of Common Stock (the “Conversion
Shares”).

  

    	 	 	 

     

    

 

2.4                 
Mechanics of Conversion. Upon satisfaction of the Conversion Conditions, the Company and GT shall agree to a date
for such conversion which, in no event, shall be earlier than twenty (20) calendar days following the date of the satisfaction
of the Conversion Conditions, in compliance with Exchange Act Rule 14c-2(b) (the “Conversion Date”). On or before
the Conversion Date, GT shall surrender the Note for conversion and the Company shall denote in its corporate records the ownership
by GT of the Conversion Shares, effective as of close of business on the Conversion Date. Effective as of close of business on
the Conversion Date (i) the rights of GT with respect to the Principal, together with all other amounts due hereunder to GT shall
cease, and (ii) GT shall be treated for all purposes as having become the record holder of such Conversion Shares. Subject to the
terms of Section 2.4 of the Purchase Agreement and the Escrow Agreement, on the Conversion Date the Conversion Shares shall be
placed in the Escrow Account. The issuance of Common Stock upon conversion of this Note shall be made without charge to GT for
any tax in respect of such issuance, and such Conversion Shares shall be issued in such names as may be directed by GT.

 

2.5                 
Adjustment of Conversion Shares. Subject to Section 2.6 hereof, the number and kind of Conversion Shares or
other securities to be issued upon conversion determined pursuant to Section 2.3 shall be subject to adjustment from time
to time upon the happening of certain events while this conversion right remains outstanding, as follows:

 

(a)                
Merger, Sale of Assets, etc. If the Company at any time shall consolidate with or merge into or sell or convey all
or substantially all its assets to any other corporation or other entity, this Note shall thereafter be deemed to evidence the
right to purchase such number and kind of shares or other securities and property as would have been issuable or distributable
on account of such consolidation, merger, sale or conveyance, upon or with respect to the securities subject to the conversion
or purchase right immediately prior to such consolidation, merger, sale or conveyance. The foregoing provision shall similarly
apply to successive transactions of a similar nature by any such successor or purchaser. Without limiting the generality of the
foregoing, the anti-dilution provisions of this Section 2.5 shall apply to such securities of such successor or purchaser
after any such consolidation, merger, sale or conveyance.

 

(b)                
Reclassification. If the Company at any time shall, by reclassification or otherwise, change the Common Stock into
the same or a different number of securities of any class or classes that may be issued or outstanding, this Note shall thereafter
be deemed to evidence the right to purchase an adjusted number of such securities and kind of securities as would have been issuable
as the result of such change with respect to the Common Stock immediately prior to such reclassification or other change.

 

(c)                
Stock Splits, Combinations and Dividends. If the shares of Common Stock are subdivided or combined into a greater
or smaller number of shares of Common Stock, or if a dividend is paid on the Common Stock in shares of Common Stock, the number
of Conversion Shares to be issued upon conversion shall be proportionately reduced in case of subdivision of shares or stock dividend
or proportionately increased in the case of combination of shares, in each such case by the ratio which the total number of shares
of Common Stock outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately
prior to such event.

 

2.6                 
Adjustment Notices. Whenever the number of Conversion Shares to be issued upon conversion is adjusted as provided
in Section 2.5, the Company shall promptly deliver to GT written notice setting forth the revised number of Conversion Shares
with a statement of facts regarding the adjustment and the computation thereof.

 

		3.	COVENANTS OF THE COMPANY

 

3.1                 
Payment of Principal; Conversion. The Company hereby covenants and agrees that it shall pay or cause to be paid all
amounts due hereunder on the Maturity Date or, if applicable prior to the Maturity Date, the Company shall effect or cause to be
effected any conversion of the Principal into Conversion Shares.

 

3.2                 
Reserves. From the date hereof until the Conversion Date or Maturity Date, whichever is later, the Company shall
at all times reserve and keep available, out of its authorized but unissued Common Stock, solely for the purpose of issue upon
conversion of this Note, such number of shares of Common Stock as shall then be issuable upon the conversion of this Note. The
Company covenants that all such shares of Common Stock shall, upon issuance, be duly and validly issued, fully paid and non-assessable.

 

		4.	DEFAULT, ACCELERATION

 

4.1                 
Events of Default. Each of the following events
shall be an “Event of Default” hereunder: (i) the Company fails to pay timely any amounts due under this Note on the
date the same becomes due and payable, (ii) the Company breaches any covenant, representation, warranty, or agreement under this
Note, (iii) the Company files a petition or action for relief under any bankruptcy, insolvency or moratorium law or any other law
for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or
takes any action in furtherance of any of the foregoing, or (iv) an involuntary petition is filed against the Company (unless such
petition is dismissed or discharged within sixty (60) days of filing) under any bankruptcy statute now or hereafter in effect,
or a custodian, receiver, trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession,
custody or control of any property of the Company.

 

    	 	 	 

     

    

 

4.2                 
Acceleration. Upon the occurrence of an Event of Default, all outstanding principal, accrued interest and other amounts
owing hereunder shall, at the option of GT, and, in the case of an Event of Default pursuant to Sections 4.1(a)(iii) or (iv) above,
automatically, be immediately due and payable. GT shall have all rights and may exercise any remedies available to it at law or
in equity, successively or concurrently.

 

4.3                 
Costs of Collection. In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys’
fees and court costs incurred by GT in enforcing and collecting this Note.

 

		5.	MISCELLANEOUS

 

5.1                 
Remedies Cumulative and Continuing. All powers and remedies of GT hereunder with respect to an Event of Default shall,
to the extent permitted by law, be deemed cumulative and not exclusive of any other thereof or of any other power or remedy available
to GT, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained
in this Note, and every power and remedy given by this Note or by applicable law to GT may be exercised from time to time, and
as often as shall be deemed expedient by GT.

 

5.2                 
Replacement; Exchange. If this Note is destroyed, lost or stolen, the Company will deliver a new note to GT on the
same terms and conditions as this Note with a notation of the unpaid principal in substitution of the prior Note. GT shall furnish
to the Company reasonable evidence that the Note was destroyed, lost or stolen and any security or indemnity that may be reasonably
required by the Company in connection with the replacement of this Note.

 

5.3                 
Choice of Law. This Note shall be governed by and construed in accordance with the Requirements of Law of the State
of New York without giving effect to the principles of conflict of Laws.

 

5.4                 
Notices. All notices or other communications required or permitted hereunder shall be in writing and shall be delivered
personally, telecopied or sent by certified, registered or express mail, postage prepaid. Any such notice shall be deemed given
if delivered personally or telecopied, on the date of such delivery, or if sent by reputable overnight courier, on the first Business
Day following the date of such mailing, as follows:

 

		(a)	if to the Company: 

 

Seven Stars Cloud

 

Group, Inc.

No. 4 Drive-in Movie

Theater Park, No. 21

Liangmaqiao

RoadCHaoyang, District,

Beijing, P.R.C. 100125

Attn: Legal Department

Telecopy: 86+10-8586-2775

 

		(b)	if to GT:

 

GT Dollar PTE. Ltd.

10 Kallang Avenue,

Aperia Tower 2 #13-18, Postal Code 339510

Attn: Legal Department

 

Any Party may by notice given in accordance with
this Section 5.4 designate another address or Person for receipt of notices hereunder.

 

5.5                 
Assignment. This Note shall be binding upon the Company and GT and its successors and assigns. Neither the Company
nor GT shall make any assignment of its rights under this Note or subject this Note or its rights hereunder to any lien or security
interest of any kind whatsoever; and any such assignment, lien or security interest shall be absolutely void and unenforceable
as against GT.

 

    	 	 	 

     

    

 

5.6                 
Cooperation; Further Action. Each Party to this Note shall, without further consideration, execute and deliver any
further or additional instruments and perform any acts which may become reasonably necessary to effectuate and carry out the purposes
of this Note.

 

5.7                 
Severability. If any provision of this Note shall be held to be invalid or unenforceable, such determination shall
not affect the remaining provisions of this Note.

 

5.8                 
Amendments. This Note may not be altered or amended, and no right under this Note may be waived, except by a writing
executed by the Parties to this Note or except as otherwise provided in this Note. No waiver of any term, provision, or condition
of this Note, in any one or more instances, shall be deemed or construed as a further or continuing waiver of any such term, provision,
or condition, or as a waiver of any other term, provision, or condition of this Note.

 

5.9                 
Headings. The headings in this Note are for convenience of reference only and shall not limit or otherwise affect
the meaning hereof.

 

[Remainder of Page Intentionally Left Blank; Signature
Page Follows]

 

 

    	 	 	 

     

    

  

IN WITNESS WHEREOF, the undersigned have executed
this Note as of the date first set forth above.

 

		SEVEN STARS CLOUD GROUP, INC.
	 	 	 
		By:	 /s/ Bruno Wu

	 	Name:	Bruno Wu
	 	Title:	CEO
	 	 	 
		GT DOLLAR PTE. LTD:
	 	 	 
		By:	/s/ Chan Cheh Shin

	 	Name:	Chan Cheh Shin
	 	Title:	Vice President

 

 

[Signature Page – Convertible Promissory Note]

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