Document:

Exhibit 10.24

 

CHINA XIANGTAI FOOD CO., LTD.

Xinganxian Plaza, Building B, Suite
21-1, Lianglukou, Yuzhong District 400800

Chongqing, People’s Republic
of China

 

[DATE]

 

[NAME]

 

[ADDRESS]

 

Re: Director Offer Letter

 

Dear Ms. Dai:

 

CHINA XIANGTAI FOOD
CO., LTD., a Cayman Islands limited liability company (the “Company” or “we”), is pleased to offer you
a position as a Director of the Company.  We believe your background and experience will be a significant asset to the
Company and we look forward to your participation as a Director in the Company. Should you choose to accept this position as a
Director, this letter agreement (the “Agreement”) shall constitute an agreement between you and the Company and contains
all the terms and conditions relating to the services you agree to provide to the Company.

 

1.           Term.  This
Agreement is effective as of the date of this Agreement. Your term as a Director shall continue subject to the provisions in Section
9 below or until your successor is duly elected and qualified.  The position shall be up for re-appointment every three
year by the board of the Directors of the Company (the “Board”) and upon re-appointment, the terms and provisions of
this Agreement shall remain in full force and effect.

 

2.           Services.  You
shall render services as a Director (hereinafter, your “Duties”). During the term of this Agreement, you may attend
and participate at each meeting regarding the business and operation issues of the Company as regularly or specially called, via
teleconference, video conference or in person. You shall consult with the members of the Board and committee (if any) regularly
and as necessary via telephone, electronic mail or other forms of correspondence.

 

3.           Services
for Others.  You shall be free to represent or perform services for other persons during the term of this Agreement.  

 

4.           Compensation.  As
compensation for your services to the Company, you will receive upon execution of this Agreement a compensation of $10,000 for
each calendar year of service under this Agreement on a pro-rated basis.

 

You shall be reimbursed
for reasonable expenses incurred by you in connection with the performance of your Duties (including travel expenses for in-person
meetings).

 

5.           D&O
Insurance Policy. During the term under this Agreement, the Company shall include you as an insured under its officers’
insurance policy.

 

6.           No
Assignment.  Because of the personal nature of the services to be rendered by you, this Agreement may not be
assigned by you without the prior written consent of the Company.

 

     

     

    

 

7.           Confidential
Information; Non-Disclosure.  In consideration of your access to certain Confidential Information (as defined
below) of the Company, in connection with your business relationship with the Company, you hereby represent and agree as follows:

 

a.           Definition.  For
purposes of this Agreement the term “Confidential Information” means: (i) any information which the Company possesses
that has been created, discovered or developed by or for the Company, and which has or could have commercial value or utility in
the business in which the Company is engaged; (ii) any information which is related to the business of the Company and is generally
not known by non-Company personnel; and (iii) Confidential Information includes, without limitation, trade secrets and any information
concerning products, processes, formulas, designs, inventions (whether or not patentable or registrable under copyright or similar
laws, and whether or not reduced to practice), discoveries, concepts, ideas, improvements, techniques, methods, research, development
and test results, specifications, data, know-how, software, formats, marketing plans, and analyses, business plans and analyses,
strategies, forecasts, customer and supplier identities, characteristics and agreements.

 

b.           Exclusions.  Notwithstanding
the foregoing, the term Confidential Information shall not include: (i) any information which becomes generally available or is
readily available to the public other than as a result of a breach of the confidentiality portions of this Agreement, or any other
agreement requiring confidentiality between the Company and you; (ii) information received from a third party in rightful
possession of such information who is not restricted from disclosing such information; (iii) information known by you prior to
receipt of such information from the Company, which prior knowledge can be documented and (iv) information you are required to
disclose pursuant to any applicable law, regulation, judicial or administrative order or decree, or request by other regulatory
organization having authority pursuant to the law; provided, however, that you shall first have given prior written notice to the
Company and made a reasonable effort to obtain a protective order requiring that the Confidential Information not be disclosed.

 

c.           Documents.
You agree that, without the express written consent of the Company, you will not remove from the Company's premises, any notes,
formulas, programs, data, records, machines or any other documents or items which in any manner contain or constitute Confidential
Information, nor will you make reproductions or copies of same.  You shall promptly return any such documents or items,
along with any reproductions or copies to the Company upon the Company's demand, upon termination of this Agreement, or upon your
termination or Resignation (as defined in Section 9 herein).

 

d.           Confidentiality.  You
agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or indirectly,
any Confidential Information or anything relating to such information without the prior written consent of the Company, except
as may be necessary in the course of your business relationship with the Company.  You further agree that you will not
use any Confidential Information without the prior written consent of the Company, except as may be necessary in the course of
your business relationship with the Company, and that the provisions of this paragraph (d) shall survive termination of this Agreement.
Notwithstanding the foregoing, you may disclose Confidential Information to your legal counsel and accounting advisors who have
a need to know such information for accounting or tax purposes and who agree to be bound by the provisions of this paragraph (d).

 

e.           Ownership.  You
agree that the Company shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask
work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout the world) relating
to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas
and information made or conceived or reduced to practice, in whole or in part, by you during the term of this Agreement and that
arise out of your Duties (collectively, “Inventions”) and you will promptly disclose and provide all Inventions
to the Company. You agree to assist the Company, at its expense, to further evidence, record and perfect such assignments, and
to perfect, obtain, maintain, enforce, and defend any rights assigned.

 

     

     

    

  

8.            Non-Solicitation.  
During the term of your appointment, you shall not solicit for employment any employee of the Company with whom you have had contact
due to your appointment.

 

9.            Termination
and Resignation.  Your services as a Director may be terminated for any or no reason by the determination of
the Board. You may also terminate your services as a Director for any or no reason by delivering your written notice of resignation
to the Company (“Resignation”), and such Resignation shall be effective upon the time specified therein or, if no time
is specified, upon receipt of the notice of resignation by the Company. Upon the effective date of the termination or Resignation,
your right to compensation hereunder will terminate subject to the Company's obligations to pay you any compensation that you have
already earned and to reimburse you for approved expenses already incurred in connection with your performance of your Duties as
of the effective date of such termination or Resignation.

 

10.           Governing
Law; Arbitration.    All questions with respect to the construction and/or enforcement of this Agreement,
and the rights and obligations of the parties hereunder, shall be determined in accordance with the law of the State of New York.
All disputes with respect to this Agreement, including the existence, validity, interpretation, performance, breach or termination
thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally
resolved by arbitration administered by the American Arbitration Association at its New York office in force when the Notice of
Arbitration is submitted. The law of this arbitration clause shall be New York law. The seat of arbitration shall be in New York.
The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English.

 

11.           Entire
Agreement; Amendment; Waiver; Counterparts.  This Agreement expresses the entire understanding with respect to
the subject matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter
hereof.  Any term of this Agreement may be amended and observance of any term of this Agreement may be waived only with
the written consent of the parties hereto.  Waiver of any term or condition of this Agreement by any party shall not
be construed as a waiver of any subsequent breach or failure of the same term or condition or waiver of any other term or condition
of this Agreement.  The failure of any party at any time to require performance by any other party of any provision of
this Agreement shall not affect the right of any such party to require future performance of such provision or any other provision
of this Agreement.  This Agreement may be executed in separate counterparts each of which will be an original and all
of which taken together will constitute one and the same agreement, and may be executed using facsimiles of signatures, and a facsimile
of a signature shall be deemed to be the same, and equally enforceable, as an original of such signature.

 

12.       Indemnification.  The
Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any expenses,
including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts (“Losses”),
incurred in connection with any proceeding arising out of, or related to, your performance of your Duties, other than any such
Losses incurred as a result of your gross negligence or willful misconduct.  The Company shall advance to you any expenses,
including reasonable attorneys’ fees and costs of settlement, incurred in defending any such proceeding to the maximum extent
permitted by applicable law.  Such costs and expenses incurred by you in defense of any such proceeding shall be paid
by the Company in advance of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request
for payment; (b) appropriate documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment
is being sought; and (c) an undertaking adequate under applicable law made by or on your behalf to repay the amounts so advanced
if it shall ultimately be determined pursuant to any non-appealable judgment or settlement that you are not entitled to be indemnified
by the Company.

 

     

     

    

  

13.       Not
an Employment Agreement.   This Agreement is not an employment agreement, and shall not be construed or interpreted
to create any right for you to continue employment with the Company.

 

14.       Acknowledgement.  
You accept this Agreement subject to all the terms and provisions of this Agreement. You agree to accept as binding, conclusive,
and final all decisions or interpretations of the Board of Directors of the Company of any questions arising under this Agreement.

 

The Agreement has been executed and delivered
by the undersigned and is made effective as of the date set first set forth above.

 

	 	Sincerely,
	 	 	 
	 	CHINA XIANGTAI FOOD CO., LTD.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Zeshu Dai
	 	 	Director

 

	AGREED AND ACCEPTED:Exhibit 10.25

 

 

 

CALL OPTION AGREEMENT

 

BETWEEN

 

MAGIC PACE LIMITED

 

AND

 

Individual Listed in Schedule A

 

Date: May 23, 2018

 

 

 

     

     

    

 

THIS CALL OPTION
AGREEMENT (this "Agreement") is made on May 23, 2018 by and between MAGIC PACE LIMITED, a British Virgin Islands
company (the "Grantor"), and the individual listed in Schedule A (the "Grantee").

 

The Grantor and
the Grantee are collectively referred to as the "Parties" and each of them as a "Party".

 

Whereas,
the Grantor owns 50,000 or 100% issued and outstanding shares of China Meitai Food Co., Ltd., a company incorporated under the
laws of British Virgin Islands, (“BVI Company”)

 

Whereas,
the Grantor has agreed to grant to the Grantee, and the Grantee has agreed to accept from the Grantor, a call option (the “Option”)
to purchase certain number of ordinary shares of BVI Company (the "Option Shares") as set forth in Schedule
A to this Agreement.

 

NOW,
THEREFORE, in consideration of the foregoing recitals, the mutual promises hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

 

		1.	DEFINITIONS

 

		1.1	Defined Terms : In this Agreement (including
the Recitals and the Schedules), unless the context otherwise requires, the following words and expressions shall have the following
meanings:

 

"Business
Day" means a day (other than Saturdays, Sundays and public holidays) on which banks are generally open for business in
China;

 

"China" or "PRC" means the People's Republic of China;

 

"Completion Date" means the date falling seven (7) Business Days after the service of the Exercise Notice by the Grantee on the Grantor;

 

"Completion" means the completion of the sale to and purchase by the Grantee of the Option Shares under this Agreement;

 

"Distributions" means any cash proceeds arising from or in respect of, or in exchange for, or accruing to or in consequence of the Option Shares from the Effective Date to the Completion Date, including without limitation the Dividends.

 

"Dividends" means the dividends declared by BVI Company and accrued in respect of the Option Shares (whether or not such dividends shall have been paid and received by the Grantee);

 

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"Effective Date" means the execution date of this Agreement;

 

"Exercise" means the exercise by the Grantee or his Nominee(s) of the Option pursuant to the terms of this Agreement;

 

"Exercise Notice" means the notice substantially in the form set out in Part I of Schedule B;

 

"Exercise Price" means the exercise price to be paid by the Grantee (or his Nominee(s), as the case may be) to the Grantor in respect of the Option Shares issued to such Grantee as set forth opposite his name in Schedule A;

 

"Nominee" means such person nominated by a Grantee in the Transfer Notice to be the transferee of the Option or Option Shares;

 

"RMB" means the lawful currency of China;

 

"Transfer Notice" means the notice substantially in the form set out in Part II of Schedule B;

 

"US$" or "United States Dollar" means the lawful currency of the United States of America.  

 

		1.2	Interpretation: Except to the extent that the
context requires otherwise:

 

		 	1.3

 

		1.3.1	words denoting the singular shall include the plural
and vice versa; words denoting any gender shall include all genders; words denoting persons shall include firms and corporations
and vice versa;

 

		1.3.2	any reference to a statutory provision shall include
such provision and any regulations made in pursuance thereof as from time to time modified or re-enacted whether before or after
the date of this Agreement and (so far as liability thereunder may exist or can arise) shall include also any past statutory provisions
or regulations (as from time to time modified or re-enacted) which such provisions or regulations have been directly or indirectly
replaced;

 

		1.3.3	the words "written" and "in
writing" include any means of visible reproduction;

 

		1.3.4	any reference to "Clauses", "Recitals"
and "Schedules" are to be construed as references to clauses and recitals of, and schedules to, this Agreement;
and

 

		1.3.5	any reference to a time of day is a reference to China
time unless provided otherwise.

 

		1.4	Headings: The headings in this Agreement are
inserted for convenience only and shall be ignored in construing this Agreement.

 

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		2.	OPTION

 

		2.1	Option: The Grantor hereby irrevocably and
unconditionally grants to the Grantee an Option for such Grantee to acquire from the Grantor, at the Exercise Price, at any time
during the Exercise Period (defined below), to the extent that the Option has vested, any or all of the Option Shares set forth
opposite his/her name in Schedule A hereto, free from all claims, liens, charges, pledges, mortgages, trust, equities and
other encumbrances, and with all rights attaching thereto on the Completion Date.

 

		2.2	Vesting Schedule: Subject to the terms and
conditions hereto, the Option may be exercised, in whole or in part, in accordance with the following schedule:

 

97.74% of the Option Shares subject
to the Option shall vest and become exercisable on the closing date (the “Exercise Date”) of the initial public offering
of China Xiangtai Food Co., Ltd.;

 

		2.3	Nominees: The Grantee may, at the Exercise
Date, at his/her sole discretion, nominate one or more person(s) (each a “Nominee”) to be the transferee(s) of whole
or part of the shares subject to his/her Option, who shall hold and/or exercise the transferred Option on behalf of the Grantee.

 

		2.4	Exercise Notice: The Option may be exercised
by the Grantee or his Nominee(s), in whole or in part, at the Exercise Date, by serving an Exercise Notice on the Grantor.

 

		2.5	Exercise: The Grantor agrees that he shall,
upon receipt of the Exercise Notice, transfer to the Grantee (or his/her Nominee(s), as the case may be) any and all of the Option
Shares specified in the Exercise Notice, free from all claims, liens, charges, pledges, mortgages, trust, equities and other encumbrances,
and with all rights now or hereafter attaching thereto. The Option shall be exercisable only in compliance with the laws and regulations
of the PRC and the British Virgin Islands, and such Grantee (or his Nominee(s), as the case may be) shall complete any and all
approval or registration procedures regarding the exercise of his Option at PRC competent authorities in accordance with applicable
PRC laws and regulations.

 

		2.6	Transfer Notice: In case that a Grantee transfers
any or all of his/her Option to one or more Nominee(s) in accordance with Clause 2.4 above, the Grantee shall serve a Transfer
Notice on the Grantor.

 

		2.7	Transfer to Nominees: The Grantor agrees that he shall, upon receipt of the Transfer Notice,
take all actions necessary to allow the Nominee(s) to be entitled to any or all of Option Shares specified in the Transfer Notice.

 

Upon exercise by any Nominee(s)
of the transferred Option on behalf of the Grantee, the Grantee shall serve the Exercise Notice on the Grantor in his own name
for the exercising Nominee(s). Upon receipt of such Exercise Option, the Grantor shall issue to such Nominee(s) any and all of
the relevant Option Shares in the same manner as specified in Clause 2.6.

 

		2.8	Payment of Exercise Price: Upon Exercise of
the Option in whole or in part, the Grantee (or his Nominee(s), as the case may be) shall pay the Exercise Price to the Grantor.

 

		 	2.9

 

		2.10	The Grantor’s Obligation upon Exercise: The
Grantor agrees that upon the Exercise of any Option by the Grantee (or his Nominee(s)), he shall cause and procure the number
of Option Shares provided in the Exercise Notice to be transferred to the Grantee (or his Nominee(s)) within seven (7) Business
Days after the date of the Exercise Notice.

 

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		3.	INFORMATION, distributionS AND ADJUSTMENTS

 

		3.1	Information: The Grantee shall be entitled
to request from the Grantor at any time before the Completion, a copy of any information received from the Grantor which may be
in the possession of the Grantor and, upon such request, the Grantor shall provide such information to the Grantee.

 

		3.2	Distributions: The Grantor agrees that the
Grantee shall be entitled to all the Distributions in respect of his Option Shares. In the event that any such Distributions have
been received by the Grantor for any reason, the Grantor shall cause the existing shareholder at the request of the Grantee to
pay an amount equivalent to the Distributions received to the Grantee.

 

		3.3	Adjustments: If, prior to the Completion, BVI
Company shall effect any adjustment in its share capital (such as share split, share dividend, share combination or other similar
acts), then the number of Option Shares and the Exercise Price shall be adjusted accordingly to take into account such adjustment.

 

		4.	COMPLETION

  

		4.1	Time and Venue: Completion of the sale and
purchase of the Option Shares pursuant to the Exercise shall take place at such place decided by the Grantee on the Completion
Date and reasonably acceptable to the Grantor. The parties agree that Hong Kong is a reasonable place for the completion of the
sale.

 

		4.2	Business at Completion: At Completion of each
Exercise, all (but not part only) of the following shall be transacted:

 

		4.2.1.1.	the exercising Grantee shall pay the Exercise Price
to the Grantor by wire transfer or such other method as shall be reasonably acceptable to Grantor;

 

		4.2.1.2.	the Grantor shall, and to the extent that any action
on the part of other shareholders or the directors is required, procure the then existing shareholders and directors of BVI Company
to, within seven (7) Business Days after the date of Exercise Notice, deliver to the exercising Grantee (or his Nominee(s), same
below) the following documents and take all corporate actions necessary to give effect to such delivery:

 

		4.2.1.3.	a share certificate or share certificates in respect
of the number of the Option Shares exercised by the Grantee;

 

		4.2.1.4.	a certified true copy of the register of members of
BVI Company updated to show the entry of the Grantee as the holder of the Option Shares so exercised; and

 

		4.2.1.5.	any other documents as the Grantee may reasonably believe
necessary to give effect to the transfer of the exercised Option Shares.

 

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		5.	CONFIDENTIALITY

 

The transaction contemplated hereunder
and any information exchanged between the Parties pursuant to this Agreement will be held in complete and strict confidence by
the concerned Parties and their respective advisors, and will not be disclosed to any person except: (i) to the Parties’
respective officers, directors, employees, agents, representatives, advisors, counsel and consultants that reasonably require
such information and who agree to comply with the obligation of non-disclosure pursuant to this Agreement; (ii) with the express
prior written consent of the other Party; or (iii) as may be required to comply with any applicable law, order, regulation or
ruling, or an order, request or direction of a government agency; provided, however, that the foregoing shall not apply to information
that: (1) was known to the receiving Party prior to its first receipt from the other Party; (2) becomes a matter of public knowledge
without the fault of the receiving Party; or (3) is lawfully received by the Party from a third person with no restrictions on
its further dissemination.

 

		6.	GRANTOR’S UNDERTAKINGS

 

		6.1.	Grantor agrees that in its capacity as holder of Option
Shares, it shall not and shall not cause the BVI Company to, take any action or agree on behalf of the BVI Company to take any
action to do the following, without the express written direction of the Grantee:

 

		6.1.1	issue new shares, equity interests, registered capital,
ownership interests, or equity-linked securities, or any options or warrants that are directly convertible into, or exercisable
or exchangeable for, shares, equity, registered capital, ownership interest, or equity-linked securities of the BVI Company, other
similar equivalent arrangements;

 

		6.1.1	alter the shareholding structure of the BVI Company
(other than as a result of the transactions contemplated by this agreement);

 

		6.1.2	cancel, redeem, forfeit or otherwise alter the shares
of the BVI Company that Grantor holds;

 

		6.1.3	amend the register of members or the memorandum and
articles of association of the BVI Company;

 

		6.1.4	liquidate or wind up the BVI Company;

 

		6.1.5	act or omit to act in such a way that would have negative
effects on the interest in the BVI Company that Grantee holds;

 

		6.1.6	transfer or dispose of any assets or liabilities of
the BVI Company;

 

		6.1.7	incur any obligations whatsoever, including any financial
obligations, or borrow any money or assets from any bank or third party;

 

		6.1.8	appoint or remove any officer or manager of the BVI
Company;

 

		6.1.9	acquire property from any person;

 

		6.1.10	enter into any contract with any third party;

 

		6.1.11	invest funds or assets held by the BVI Company; or

 

		6.1.12	take any action that would circumvent, oppose or interfere
with the exercise of Grantees’ rights under this Agreement.

 

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		7.2.	During the term of this agreement, Grantor hereby
further agrees;

 

		6.2.1	to execute and deliver to any party any document,
agreement, instrument, notice, letter or other item as requested by Grantee in connection with Grantee’s exercise of discretion
and its rights hereunder;

 

		6.2.2	Grantor shall take any action as reasonably necessary,
whether or not directed by Grantee, in order to realize the intent of the Parties under this Agreement.

 

		7.	MISCELLANEOUS

 

		7.1.	Indulgence, Waiver Etc: No failure on the part
of any Party to exercise and no delay on the part of such Party in exercising any right hereunder will operate as a release or
waiver thereof, nor will any single or partial exercise of any right under this Agreement preclude any other or further exercise
of it or any other right or remedy.

 

		7.2.	Effective Date and Continuing Effect of Agreement:
This Agreement shall take effect from the Effective Date. All provisions of this Agreement shall not, so far as they have not
been performed at Completion, be in any respect extinguished or affected by Completion or by any other event or matter whatsoever
and shall continue in full force and effect so far as they are capable of being performed or observed, except in respect of those
matters then already performed.

 

		7.3.	Successors and Assignees: This Agreement shall
be binding on and shall ensure for the benefit of each of the Parties' successors and permitted assignees. Any reference in this
Agreement to any of the Parties shall be construed accordingly.

 

		7.4.	Further Assurance: At any time after the date
of this Agreement, each of the Parties shall, and shall use its best endeavors to procure that any necessary third party shall,
execute such documents and do such acts and things as any other Party may reasonably require for the purpose of giving to such
other Party the full benefit of all the provisions of this Agreement.

 

		7.5.	Remedies: No remedy conferred by any of the
provisions of this Agreement is intended to be exclusive of any other remedy which is otherwise available at law, in equity, by
statute or otherwise, and each and every other remedy shall be cumulative and shall be in addition to every other remedy given
hereunder or now or hereafter existing at law, in equity, by statute or otherwise. The election of any one or more of such remedies
by any Party shall not constitute a waiver by such Party of the right to pursue any other available remedies.

 

		7.6.	Severability of Provisions: If any provision
of this Agreement is held to be illegal, invalid or unenforceable in whole or in part in any jurisdiction, this Agreement shall,
as to such jurisdiction, continue to be valid as to its other provisions and the remainder of the affected provision; and the
legality, validity and enforceability of such provision in any other jurisdiction shall be unaffected.

 

		7.7.	Governing Law: This Agreement shall be governed
by, and construed in accordance with, the laws of the British Virgin Islands.

 

		7.8.	Dispute Resolution: In the event of any dispute,
claim or difference (the "Dispute") between any Parties arising out of or in connection with this Agreement,
the Dispute shall be resolved in accordance with the following:

 

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(a)Negotiation
between Parties; Mediations. The Parties agree to negotiate in good faith to resolve any Dispute. If the negotiations do not
resolve the Dispute to the reasonable satisfaction of all parties within thirty (30) days, subsection (b) below shall apply.

 

(b)
Arbitration. In the event the Parties are unable to settle a Dispute in accordance with subsection (a) above, such Dispute
shall be referred to and finally settled by arbitration at Hong Kong International Arbitration Centre in accordance with the UNCITRAL
Arbitration Rules (the “UNCITRAL Rules”) in effect, which rules are deemed to be incorporated by reference
into this subsection (b). The arbitration tribunal shall consist of three arbitrators to be appointed according to the UNCITRAL
Rules. The language of the arbitration shall be English.

 

		7.9.	Counterparts: This Agreement may be signed
in any number of counterparts, all of which taken together shall constitute one and the same instrument. Any Party hereto may
enter into this Agreement by signing any such counterpart.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF the Parties hereto
have executed this Agreement on the date first above written.

 

The Grantor

 

	By:	/s/ Xu Weimin

Name: XU WEIMIN

Title: Director

 

     

     

    

 

IN WITNESS WHEREOF the Parties hereto
have executed this Agreement on the date first above written.

 

The Grantee 

 

	By:	/s/ Dai Zeshu

Name: DAI ZESHU

 

     

     

    

 

SCHEDULE A

 

Grantee and Option Shares

 

	
        Grantee
	
        ID Card/Passport Number
	
        Number of 

Option Shares
	
        Exercise Price

	DAI ZESHU	----	48,870	USD 1.00 

 

     

     

    

 

SCHEDULE B

 

 

Part I

 

Form of Exercise Notice

 

 

To: MAGIC PACE LIMITED (the “Grantor”)
and sole director of BVI Company

 

From: DAI ZESHU (the “Grantee”)

 

We refer to the Call
Option Agreement (the "Option Agreement") dated May 23, 2018 made between the Grantee and the Grantor. Terms defined
in the Option Agreement shall have the same meanings as used herein.

 

We hereby give you
notice that we require you to sell to us / [Nominees' names] in accordance with the terms and conditions of the Option Agreement,
the following Option Shares at the Exercise Price set out below, subject to the terms and conditions set out in the Option Agreement.
Completion shall take place at [ ] on [ ] at the office of [ ].

 

	
        Grantee
	
        Option Shares
	
        Exercise Price

	
        DAI ZESHU
	[    ] shares	USD[   ]
	 	 	 
	 	 	 
	 	 	 

 

Dated
[]

 

Yours faithfully

 

	 

Name: DAI ZESHU

 

     

     

    

 

Party II

 

Form of Transfer Notice I

 

To: MAGIC PACE LIMITED (the “Grantor”)
and sole director of BVI Company

 

From: DAI ZESHU (the “Grantee”)

 

 

We refer to the Call
Option Agreement (the "Option Agreement") dated May 23,2018 made between the Grantee and the Grantor. Terms defined
in the Option Agreement shall have the same meanings as used herein.

 

We hereby give you
notice that we will transfer to [Nominees' names] the following portion of the Option, expressed in terms of the number
of Option Shares represented by the portion of the Option transferred in accordance with the terms and conditions of the Option
Agreement,.

 

 

	
        Grantee
	
        Nominees
	
        Option Shares Represented

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

Dated
[]

 

Yours faithfully

 

	 

Name: DAI ZESHU

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}]]