Document:

Exhibit 10.33

 

CONVERTIBLE
PROMISSORY NOTE

 

	Principal
    Amount: [$               ]	Original
    Issuance Date: March 5, 2021

 

THIS
CONVERTIBLE PROMISSORY NOTE (THE “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED, SOLD, ASSIGNED OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
WITH RESPECT THERETO UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAW OR AN EXEMPTION FROM SUCH REGISTRATION.

 

FOR
VALUE RECEIVED, The Glimpse Group, Inc. (the “Company”) hereby promises to pay to the order of
[                                            ]
and its assignee(s) (“Holder”) the amount set out above as the principal amount (the “Principal Amount”)
when due upon the respective Repayment Dates or Maturity Date, in accordance with the terms hereof, and to pay interest
(“Interest”) on any outstanding Principal Amount at the applicable interest rate pursuant to the terms below from the
date set out above as the Original Issuance Date until this convertible promissory note has been paid in full. This convertible
promissory note, including all promissory notes issued in exchange, transfer or replacement hereof, is referred to as this
“Note”. This Note is delivered pursuant to the terms of that certain securities purchase agreement (the
“SPA”) dated as of the Original Issuance Date by and between the Holder and the Company. Certain capitalized terms shall
have the meanings as defined in the SPA if not specifically defined herein.

 

	 	1.	Payments
    of the Principal.

 

Subject
to the conversion of the Note as described in Sections 4 and 5 and repayments of the Interest (as defined below) set forth in Section
2, the Principal Amount and any accrued but unpaid Interest outstanding hereunder shall be payable to the Holder in a single payment
on March 5, 2023 (the “Maturity Date”).

 

Except
set forth in this Note or the SPA, all cash payments made pursuant to this Note shall be made in United States Dollars by check or wire
transfer to Holder at such address or account as Holder may designate in writing (including in email form).

 

For
the purposes of this Note, “Business Day” means any day other than Saturdays, Sundays or other days on which commercial banks
in The City of New York are authorized or required by law to remain closed.

 

	 	2.	Interest
    and Repayment.

 

Subject
to the conversion of this Note, this Note shall bear interest (the “Interest”) at the rate of ten percent (10%) per annum
to be accrued on any outstanding and non-converted Principal Amount, computed on a 360-day-per-year basis. The Interest shall be paid
by the Company to Holder as follows:

 

	 	(i)	On
    the Original Issuance Date, the Company shall pay in advance the Interest to be accrued during Months 1-12 from the Original Issuance
    Date, in the Company’s common stock (“Payment in Kind”, “PIK”) at the PIK Price per Share as defined
    below.
	 	 	 
	 	(ii)	On
    the last Business Day of each month during Months 13-23 from Original Issuance Date and the Maturity Date, the Interest accrued in
    that month shall be paid to Holder in PIK at the PIK Price per Share.
	 	 	 
	 	(iii)	Subject
    to certain adjustments set forth in this Note, PIK Price per Share shall be a fixed price of $5.00 per share (the “PIK Price
    per Share”).

 

    	1

     

    

 

	 	3.	Reserved.

 

	 	4.	Conversion.

 

	 	(i)	During
    the Term, the Holder may elect to convert any outstanding Principal Amount and accrued but unpaid Interest into Company’s Common
    Shares (the “Conversion”), at any time and at its sole discretion, at a fixed conversion price of $5.00 per share (the
    “Conversion Price”). Any Conversion election by the Holder will be made in writing delivered to the Company pursuant
    to Section 5 and in accordance with the conversion notice (the “Conversion Notice”) attached herein as Exhibit A.
	 	 	 
	 	(ii)	Upon
    a successful listing of the Company’s Common Stock on a national stock exchange, any unconverted Principal Amounts shall automatically
    convert (“Automatic Conversion”) into the Common Stock at the Conversion Price, and upon issuance of Company’s
    common shares as a result of the Automatic Conversion, no further obligations shall remain on the Note and the Note shall be deemed
    fully paid.

 

	 	5.	Mechanics
    of Conversion.

 

	 	(i)	The
    number of shares issuable upon a conversion (the “Conversion Shares”) pursuant to Section 5 shall be determined by the
    quotient obtained by dividing the all or part of the outstanding Principal Amount of this Note and accrued but unpaid Interest thereon
    to be converted by (y) the Conversion Price.
	 	 	 
	 	(ii)	Not
    later than five (5) Business Days (the “Share Delivery Date”) after receiving a Conversion Notice, the Company shall
    deliver, or cause to be delivered, to the Holder the Conversion Shares in book-entry form via a share statement of the Holder reflecting
    the issuance of Conversion Shares being acquired upon the Conversion of this Note, in whole or in part.
	 	 	 
	 	(iii)	No
    fractional shares or scrip representing fractional shares shall be issued upon the Conversion of this Note. As to any fraction of
    a share which the Holder would otherwise be entitled to receive upon such conversion, the Company shall at its election, either pay
    a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Conversion Price or round
    up to the next whole share.

 

	 	6.	Events
    of Default.

 

	 	(i)	Each
    of the following events shall constitute an “Event of Default”:

 

	 	a.	Company
    shall fail to make payment of any Principal Amount or Interest on this Note within ten (10) Business Days from the required payment
    dates; or
	 	 	 
	 	b.	Except
    as set forth in Section 6(i), the Company shall materially breach any provision of this Note and such breach shall have not been
    cured within thirty (30) days after written notice thereof to Company from Holder; or
	 	 	 
	 	c.	The
    Company shall become insolvent within the meaning of any bankruptcy, insolvency, reorganization, moratorium or other similar law
    of any jurisdiction (collectively, “Bankruptcy Law”), as determined by a court of competent jurisdiction; the Company
    makes an assignment for the benefit of creditors, liquidates, dissolves, winds down its business or agrees to or adopts or approves
    any plan or action to liquidate, dissolve or wind down its business; or if any case under any provision of Bankruptcy Law, including
    provisions for reorganizations, shall be commenced by or against the Company or any of its subsidiaries and not dismissed within
    ninety (90) days after such commencement;
	 	 	 
	 	d.	a
    receiver, liquidator, assignee, trustee or custodian shall be appointed for the Company for all or any material portion of the assets
    of Company and the same shall not have been discharged within ninety (90) days; or
	 	 	 
	 	e.	a
    liquidation or winding-up of Company.

 

    	2

     

    

 

	 	(ii)	Upon
    the occurrence of an Event of Default, all amounts payable, including the Principal Amount and accrued but unpaid Interest, by the
    Company to Holder under this Note shall become immediately due and payable, without presentment, demand, protest or any other notice
    of any kind, all of which are expressly waived hereby. The rights given hereunder are cumulative with all of the other rights and
    remedies of Holder under this Note or any other agreement, by operation of law or otherwise.
	 	 	 
	 	(iii)	Should
    the indebtedness represented by this Note, or any part thereof, be collected at law or in equity or in bankruptcy, receivership or
    other court proceedings, or this Note be placed in the hands of attorneys for collection after default, or should Company request
    any modification of this Note, Company agrees to pay, in addition to the principal, interest and other amounts due and payable hereon
    and hereunder, all costs and expenses incurred in connection with such collection, or modification, as applicable, including, without
    limitation, attorneys’ and collection fees.
	 	 	 
	 	(iv)	Company
    hereby waives, to the fullest extent permitted by law, diligence, presentment, demand for payment, protest, notice of dishonor and
    any and all other notices or demands of every kind and the right to plead the statute of limitations as a defense to any action hereunder.
    No delay on the part of the holder hereof in exercising any rights hereunder shall operate as a waiver of such rights.

 

	 	7.	Change
    of Control.

 

In
the event of a Fundamental Transaction (as defined below), all amounts payable by the Company to the Holder under this Note shall become
immediately due and payable and the Holder shall have the option to convert any and all outstanding part of this Note into the number
of shares of the Company’s common stock pursuant to Section 4.

 

If,
at any time while this Note is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any
merger or consolidation of the Company with or into another Person, (ii) the Company (and all of its Subsidiaries, taken as a whole),
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Company or another Person) is completed pursuant to which holders of the Company’s common stock are permitted
to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of
the outstanding common stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of its common stock or any compulsory share exchange pursuant to which the common stock is effectively
converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related
transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin- off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of the Company’s common stock (not including any shares of Common Stock held by
the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock
or share purchase agreement or other business combination) (each, a “Fundamental Transaction”).

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

    	3

     

    

 

	 	8.	Certain
    Adjustments.

 

	 	(i)	Stock
    Dividends and Stock Splits. If the Company, at any time while this Note is outstanding: (i) subdivides its outstanding shares
    of common stock into a larger number of shares, (ii) combines (including by way of a reverse stock split) outstanding shares of common
    stock into a smaller number of shares or (iii) issues, in the event of a reclassification of shares of the common stock, any shares
    of capital stock of the Company, then both the Conversion Price and PIK Price per Share shall be multiplied by a fraction of which
    the numerator shall be the number of shares of common stock (excluding any treasury shares of the Company) outstanding immediately
    before such event, and of which the denominator shall be the number of shares of common stock outstanding immediately after such
    event. Any adjustment made pursuant to this Section shall become effective immediately after the record date for the determination
    of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date
    in the case of a subdivision, combination or re-classification.
	 	 	 
	 	(ii)	Calculations.
    All calculations under this Section 8 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
	 	 	 
	 	(iii)	Notice
    of Adjustment. Whenever the Conversion Price and PIK Price per Share are adjusted pursuant to any provision of this Section,
    the Company shall promptly deliver to each Holder a notice setting forth the new Conversion Price and PIK Price per Share with three
    (3) Business Days after such adjustment and setting forth a brief statement of the facts requiring such adjustment. Failure to provide
    such notice shall not constitute an Event of Default.

 

	 	9.	Prepayment.
    The Note shall not be prepaid by the Company at any time unless both the Company and Holder mutually agree to the prepayment of the
    Note in writing.
	 	 	 
	 	10.	Notices.
    All notices and other communications provided for hereunder shall be in writing and shall be sent by (a) registered or certified
    mail postage prepaid, return receipt requested, (b) messenger, (c) facsimile or (d) email to the party to whom addressed at the following
    respective mailing addresses, facsimile numbers or email addresses or to such other mailing address, facsimile number or email address
    as the party affected may hereafter designate:

 

	 	(i)	If
    to Company:
	 	 	 
	 	 	The
    Glimpse Group, Inc. 15 West 38h St, 9th Fl.
	 	 	New
    York, NY 10018
	 	 	Attention:
Maydan Rothblum, CFO & COO
	 	 	Email:
    Maydan@TheGlimpseGroup.com
	 	 	 
	 	 	With
    a Copy to:
	 	 	Sichenzia
    Ross Ference LLP
	 	 	1185
Avenue of the Americas, 31th Floor
	 	 	New York, NY 10036
	 	 	Facsimile:
    212-930-9725 Attn: Darrin M. Ocasio
	 	 	 
	 	(ii)	If
    to Holder:
	 	 	 
	 	 	Please
    refer to the SPA.

 

	 	11.	Security.

 

The
Note is an unsecured obligation of the Company and is not secured by any liens or security interest in, on or covering any assets of
the Company.

 

	 	12.	Severability.

 

If
any provision of this Note is contrary to, prohibited by or deemed invalid under any applicable law or regulation, such provision shall
be inapplicable and deemed omitted to the extent so contrary, prohibited or invalid, but the remainder hereof shall not be invalidated
thereby and shall be given full force and effect as far as possible.

 

    	4

     

    

 

	 	13.	Amendment
    and Waiver.

 

This
Note or any portion therein, may only be amended or waived upon the joint written consent of the Company and Holders holding 75% of the
total outstanding Principal Amount of the Note, as calculated by aggregate amounts invested in this Offering pursuant to the SPA (the
“Majority”).

 

	 	14.	Expenses.

 

Except
as otherwise provided in this Note, each party hereto shall bear and pay its own fees, costs and expenses incident to preparing, entering
into and carrying out this Note and to consummating the transactions contemplated hereby.

 

	 	15.	Successors
    and Assigns.

 

Company
may not assign its rights or delegate its duties under this Note (by merger, consolidation, operation of law or otherwise) without the
prior written consent of the Majority and any purported assignment or delegation made without such consent shall be null and void ab
initio. Holder may freely assign its rights under this Note with prior written consent of Company. Following any assignment by Holder
of its rights under this Note, the assignee shall be deemed to be the “Holder” hereunder.

 

	 	16.	Governing
    Law.

 

This
Note, and all other disputes or issues arising from or relating in any way to the Company’s relationship with Employee, shall be
governed by the internal laws of the State of New York, irrespective of the choice of law rules of any jurisdiction. Any dispute shall
be brought before the state and federal courts located in New York City, New York, and each party waives any objection which such party
may now or hereafter have to the laying of the venue of any such action, suit or proceeding, and irrevocably submits to the jurisdiction
of any such court in any such action, suit or proceeding.

 

	 	17.	WAIVER
    OF JURY TRIAL.

 

EACH
PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN (WHETHER BASED
ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO

 

(A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND

 

(B)
ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 17.

 

	 	18.	Enforcement
    Expenses.

 

Company
shall indemnify and hold Holder harmless from and against all losses, claims, expenses and liabilities (including, without limitation,
attorneys’ fees and expenses) incurred from time to time by Holder with respect to any collection actions of this Note.

 

	 	19.	Replacement.

 

Upon
receipt of a duly executed, notarized and unsecured written statement from Holder with respect to the loss, theft or destruction of this
Note (or any replacement hereof) and a customary indemnity, or, in the case of a mutilation of this Note, upon surrender and cancellation
of such Note, Company shall issue to Holder a new convertible promissory note, of like tenor and amount, in replacement of such lost,
stolen, destroyed or mutilated Note.

 

	 	20.	Headings.

 

The
heading of the sections, paragraphs and provisions of this Note are for reference purposes only and shall not affect in any way the meaning
or interpretation of this Note.

 

[Signature
page follows]

 

    	5

     

    

 

[SIGNATURE
PAGE TO THE CONVERTIBLE PROMISSORY NOTE]

 

IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed as of the Original Issuance Date set out above.

 

	 	The
    Glimpse Group, Inc.
	 	 	 
	 	By:	 
	 	Name:
    	Lyron
    Bentovim
	 	Title:
    	President
    & CEO

 

    	6

     

    

 

EXHIBIT
A

 

Form
of Conversion Notice

 

The
Glimpse Group, Inc.

15
West 38h St, 9th Fl. New York, NY 10018

Attention: Lyron Bentovim/Maydan Rothblum

 

The
undersigned hereby elects to convert certain outstanding amount as set forth below of the Convertible Promissory Note of The Glimpse
Group, Inc., a Nevada corporation (the “Company”), issuance date March 5, 2021, into shares of common stock (the “Common
Stock”), of the Company, according to the conditions hereof, as of the date written below. If the shares of Common Stock are
to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto
and is delivering herewith such certificates and opinions as reasonably requested by the Company in accordance therewith. No fee will
be charged to the holder for any conversion, except for such transfer taxes, if any.

 

The
undersigned agrees to comply with the delivery requirements under the applicable securities laws in connection with any transfer of the
aforesaid shares of Common Stock. The Conversion Shares shall be delivered in book-entry form and a statement of the undersigned’s
position in the Company will be mailed or emailed to the undersigned.

 

Conversion
calculations:

 

Principal
Amount of Note to be Converted: $ ________

 

The
Amount of Interest of the Note to be Converted: $ ________

 

Conversion
Price per Share: $ ________

 

Number
of Shares of Common Stock to be Issued upon Conversion: ___________

 

	 	Signature: 	 
	 	Name (Print): 	 
	 	 	 
	 	Mailing
    Address:	 
	 	Phone
    number:	 
	 	Email:	 
	 	Date:	 

 

    	7Exhibit 10.1

 

SECURITIES
exchange AGREEMENT

 

This Securities Exchange Agreement
(this “Agreement”) is dated as of June 13, 2021, among Avalon GloboCare Corp., a Delaware corporation (the “Company”),
Lonlon Biotech Ltd., a company incorporated in the British Virgin Islands (“Sen Lang”), Senlang Biotechnology Co. Ltd. (河北森朗生物科技有限公司
in Chinese), a company with limited liability organized and existing under the laws of the PRC (the “OpCo”), and Yueyin
Datong (Tianjin) Asset Management Co. Ltd. (in Chinese, 约印大通(天津)资产管理有限公司),
a limited liability company organized and existing under the laws of the People’s Republic of China (including its successors
and assigns, “Purchaser”).

 

WHEREAS, the Company has entered
into certain Share Purchase Agreement (the “Acquisition Agreement”) dated as of June 13, 2021, with Sen Lang), the
holders of shares of Sen Lang capital stock and the other parties named therein, and upon the closing of the Acquisition Agreement, the
Company will become 100% parent-owner of Sen Lang;

 

WHEREAS, Lonlon Biotech Investment
Limited (the “HK Subsidiary”) is a wholly owned subsidiary of Sen Lang that is organized and existing under the laws of Hong
Kong Special Administrative Region (“Hong Kong”).

 

WHEREAS, Beijing Langlang
Runfeng Biotechnology Co., Ltd. (北京朗朗润丰生物科技有限公司
in Chinese) is a wholly foreign owned enterprise with limited liability organized and existing under the laws of the People’s Republic
of China (the “PRC”, for the purpose of this Agreement, excluding Hong Kong, the Macau Special Administrative Region
and Taiwan) (the “PRC Subsidiary”). The PRC Subsidiary is a wholly-owned company of the HK Subsidiary.

 

WHEREAS, the OpCo is mainly
engaged in the business of the research and development in relation to CAR-T cell therapy, immune cell therapy and related drug (the “Principal
Business”). Thirteen (13) out of the total fifteen (15) Sen Lang Beneficial Shareholders own the aggregate 100% equity interests
in the OpCo.

 

WHEREAS, the PRC Subsidiary
has entered into a set of variable interest entities agreements (such agreements are collectively referred to as the “VIE Agreements”,
and such contractual control arrangement is referred to as the “VIE Structure”) with the OpCo and each of its equity
holder, to establish and maintain the OpCo’s intended captive structure, under which the financial statements of the OpCo can be
consolidated with those of the other subsidiaries of Sen Lang in accordance with its then duly adopted accounting principles.

 

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”), and Rule 506 promulgated thereunder, the Company desires to provide each Purchaser with the right to exchange the Registered
Capital of the OpCo for the Shares, as more fully described in this Agreement.

 

     

     

    

 

NOW, THEREFORE, in consideration
of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1 Definitions. In
addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings set
forth in this Section 1.1:

 

“Acquisition
Agreement” shall have the meaning ascribed to such term in the preamble to this Agreement.

 

“Acquisition
Closing” shall have the meaning ascribed to such term in Section 2.2.

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Board
of Directors” means the board of directors of the Company.

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required
by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” or any
other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so
long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally are
open for use by customers on such day.

 

“Closing”
means the closing of the transactions contemplated hereby pursuant to Article II. Closing shall include, jointly and severally, “Initial
Closing”, “Second Installment Closing” and “Third Installment Closing”.

 

“Closing
Date” means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties
thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii) the OpCo’s
obligations to deliver the Registered Capital, in each case, have been satisfied or waived.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.0001 per share, and any other class of securities into which such
securities may hereafter be reclassified or changed.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

    	 	2	 

     

    

 

“Exchange
Date” means the day on which Purchaser provides written notice to the Company, Sen Lang and the OpCo to elect to (i) exchange
its Registered Capital of the OpCo for shares of Common Stock of the Company or (2) exchange its Registered Capital of the OpCo for shares
of Sen Lang.

 

“Exchange
Rate” means the RMB exchange rate officially published by Bank of China on the date of the exchange notice pursuant to Section
2.8(a).

 

“Exchange
Termination Date” shall have the meaning ascribed to such term in Section 2.8(a).

 

“Initial Closing”
shall have the meaning ascribed to such term in Section 2.4.

 

“Liens”
means a lien, charge pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Material
Adverse Effect” shall have the meaning assigned to such term in Section 3.1(b).

 

“OpCo”
refers to Senlang Biotechnology Co. Ltd. (河北森朗生物科技有限公司
in Chinese), a PRC company with limited liability organized and existing under the laws of the PRC.

 

“OpCo Capital
Increase Agreement” shall have its meanings as provided in Section 2.1.

 

“Per Share
Exchange Price” equals $1.211. The Per Share Exchange
Price shall be adjusted to reflect any stock split, reclassification, combination or other similar change of the Company’s Common
Stock.

 

“Per Sen
Lang Share Price” equals $20,014.49182. The Per
Sen Lang Share Price shall be adjusted to reflect any such stock split, reclassification, combination or other change.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,
joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

“Registered
Capital” shall have the meaning ascribed to such term in Section 2.2.

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

 

“SEC Reports”
shall have the meaning ascribed to such term in Section 3.1(f).

 

“Second Installment
Closing” shall have the meaning ascribed to such term in Section 2.7.

 

 

		1	The Per Share Exchange Price will be calculated as of the date
of this Agreement and will equal the lower of: (i) the closing price of the Common Stock (as reflected on Nasdaq.com) immediately preceding
the date of this Agreement; or (ii) the average closing price of the Common Stock (as reflected on Nasdaq.com) for the five trading days
immediately preceding the date of this Agreement (calculated on a simple, not weighted average, basis).

 

		2	“Per Sen Lang Share Price” equals (a) the
Per Share Exchange Price multiplied by the total of (i) the outstanding shares of Common Stock of the Company (84,425,564 shares) plus
(ii) 81,000,000 (the number of shares of Common Stock of the Company to be issued pursuant to the Share Purchase Agreement), (b) then
divided by the total number of shares of Sen Lang issued and outstanding at the date of this Agreement (currently 10,001 shares).

 

    	 	3	 

     

    

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Shares”
means the shares of Common Stock of the Company issuable upon exchange of the Registered Capital of the OpCo pursuant to the terms of
this Agreement.

 

“Subscription
Amount” means the aggregate amount as specified in Section 2.1 herein, to be paid by Purchaser for the Registered Capital of
the OpCo purchased under and pursuant to the terms and conditions in the OpCo Capital Increase Agreement.

 

“Subsidiary”
means any subsidiary of the Company as set forth in the SEC Reports and shall, where applicable, also include any direct or indirect subsidiary
of the Company formed or acquired after the date hereof.

 

“Third Installment
Closing” shall have the meaning ascribed to such term in Section 2.7.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock
Exchange (or any successors to any of the foregoing).

 

“Transaction
Documents” means this Agreement, the OpCo Capital Increase Agreement, all exhibits and schedules thereto and hereto and any
other documents or agreements executed in connection with the transactions contemplated hereunder.

 

“VIE Agreements”
mean the set of documents entered into by and between the PRC Subsidiary and the OpCo and each of its equity holder, to establish and
maintain the OpCo’s intended captive structure, under which the financial statements of the OpCo can be consolidated with those
of the other subsidiaries of Sen Lang in accordance with the then duly adopted accounting principles of Sen Lang. The VIE Agreements include
(i) an exclusive technical consultation and service agreement; (ii) an exclusive purchase option agreement; (iii) an entrustment agreement
of shareholders’ rights; (iv) a share pledge agreement; and (v) a spouse consent letter.

 

Definitions not
otherwise defined herein shall have the same meaning as those in the Acquisition Agreement.

 

ARTICLE II.

PURCHASE AND SALE

 

2.1 OpCo Capital Increase
Agreement. Concurrently with the execution of this Agreement, Purchaser shall enter into an agreement with the OpCo related to the
purchase of Registered Capital (as defined below) of the OpCo (the “OpCo Capital Increase Agreement”), in substantially
similar form and substance as Exhibit A, whereby Purchaser agrees to contribute its Subscription Amount as its capital contribution
to the OpCo in three installments below, as more specifically provided in the OpCo Capital Increase Agreement.

 

	First Installment (due upon Closing):	 	RMB	67,000,000	 
	Second Installment (due within 3 months after
    Closing):	 	RMB	67,000,000	 
	Third Installment (due within 6 months after
    Closing):	 	RMB	66,000,000	 
	 	 	 	 	 
	Total Subscription Amount:	 	RMB 	200,000,000	 

 

In addition, Purchaser shall
enter into the VIE Agreements and agree to use its best effort to maintain the validity of the VIE Arrangements.

 

    	 	4	 

     

    

 

2.2 Purchase of Registered
Capital. Upon the terms and subject to the conditions set forth in the OpCo Capital Increase Agreement, the OpCo agrees to sell, and
Purchaser agrees to purchase, equity interests of the OpCo, representing in the aggregate of 15.6473%3
of the OpCo’s total registered capital (the “Registered Capital”) pursuant to the Capital Increase Agreement
with the excess of the payment amount over the Registered Capital as the OpCo’s “capital excess”. The effectiveness
of each of this Agreement and the OpCo Capital Increase Agreement is contingent upon, and its closing will be substantially concurrent
with the closing of the transactions contemplated by the Acquisition Agreement (the “Acquisition Closing”).

 

2.3 Purchase Consideration.
The Parties agree that the payment for the Subscription Amount under this Agreement may be satisfied by Purchaser’s subscription
and payment of Registered Capital of the OpCo pursuant to the terms of the OpCo Capital Increase Agreement and subject to other terms
and conditions herein.

 

2.4 Initial Closing.
On the Initial Closing Date which will be substantially concurrent with the Acquisition Closing, Purchaser shall pay its First Installment
of its Subscription Amount (i.e., RMB67,000,000) into the capital account of the OpCo as a contribution of Registered Capital,
and OpCo shall deliver to Purchaser its Registered Capital, as determined pursuant to the OpCo Capital Increase Agreement, and the Company,
OpCo and Purchaser shall deliver the other items set forth in Section 2.5 deliverable at the Closing (“Initial Closing”) and
the items set forth in the OpCo Captial Increase Agreement. Upon satisfaction of the covenants and conditions set forth in Sections 2.5
and 2.6, the Initial Closing shall occur at the offices of the Company or such other location as the parties shall mutually agree.

 

2.5 Deliveries for Initial Closing.

 

(a) On or prior
to the Initial Closing Date, the Company and the OpCo shall, respectively, deliver or cause to be delivered to Purchaser the following:

 

		(i)	this Agreement duly executed by the Company; and

 

		(ii)	the OpCo Captial Increase Agreement duly executed by the OpCo.

 

(b) On or about the Initial Closing Date, Purchaser
shall deliver or cause to be delivered to the Company or the OpCo, as applicable, the following:

 

		(i)	this Agreement duly executed by Purchaser; and

 

		(ii)	the OpCo Capital Increase Agreement duly executed by Purchaser.

  

 

		3	The percentage registered capital to be inserted at the date
of execution of this Agreement and the OpCo Capital Increase Agreement shall be calculated as follows: (a) the Subscription Amount in
RMB paid by the Purchasers pursuant to the OpCo Capital Increase Agreement converted to USD at the Exchange Rate of 6.3856 (the Exchange
Rate on June 11, 2021), divided by (b) the total of (i) the outstanding shares of Common Stock of the Company (84,425,564 shares) plus
(ii) 81,000,000 (the number of shares of Common Stock of the Company to be issued pursuant to the Acquisition Agreement), then multiplied
by the Per Share Exchange Price. Such percentage of OpCo’s registered capital shall only applicable in the event of that the Purchaser
has paid up the Total Subscription Amount to OpCo, and the final and acutal percentage of the registered capital of the OpCo held by
the Purchaser shall be adjusted based on the actual Subcription Amount paid by the Purchaser pursuant to the OpCo Capital Increase Agreement.

 

    	 	5	 

     

    

 

2.6 Initial Closing Conditions.

 

(a) The obligations
of the Company hereunder in connection with the Initial Closing are subject to the following conditions being met:

 

		(i)	the accuracy in all material respects (or, to the extent representations or warranties are qualified by
materiality or Material Adverse Effect, in all respects) on the Initial Closing Date of the representations and warranties of the Purchaser
contained herein and in the OpCo Capital Increase Agreement (unless as of a specific date therein in which case they shall be accurate
as of such date);

 

		(ii)	all obligations, covenants and agreements of each Purchaser
required to be performed at or prior to the Closing Date herein shall have been performed;

 

		(iii)	the consummation of the Acquisition Closing;

 

		(iii)	the execution by Purchaser, the OpCo Capital Increase Agreement and the VIE Agreements;

 

		(iv)	all closing conditions specified to be performed by Purchaser in the OpCo Capital Increase Agreement have
been satisfied;

 

		(v)	the issuance of the shares of Common Stock of the Company subject to the exchange hereunder shall have
been approved by the Company’s stockholders in the manner required by the applicable rules of the Nasdaq Stock Exchange (“Nasdaq”);

 

		(vi)	the shares of Common Stock of the Company subject to the exchange hereunder shall have been approved for
listing on Nasdaq, subject to official notice of issuance; and

 

		(vi)	the delivery by Purchaser of the items set forth in Section
2.5(b) of this Agreement.

 

(b) The obligations
of Purchaser hereunder in connection with the Initial Closing are subject to the following conditions being met:

 

		(i)	the accuracy in all material respects (or, to the extent representations
or warranties are qualified by materiality or Material Adverse Effect, in all respects) when made and on the Initial Closing Date of
the representations and warranties of the Company contained herein (unless as of a specific date therein in which case they shall be
accurate as of such date);

 

    	 	6	 

     

    

 

		(ii)	all obligations, covenants and agreements of the Company required
to be performed at or prior to the Closing Date shall have been performed;

 

		(iii)	the consummation of the Acquisition Closing;

 

		(iv)	all closing conditions specified to be performed by the OpCo in the OpCo Capital Increase Agreement have
been satisfied;

 

		(v)	the issuance of the shares of Common Stock of the Company subject to the exchange hereunder shall have
been approved by the Company’s stockholders in the manner required by the applicable rules of the Nasdaq;

 

		(vi)	the shares of Common Stock of the Company subject to the exchange hereunder shall have been approved for
listing on Nasdaq, subject to official notice of issuance; and

 

		(vii)	the delivery by the Company of the items set forth in Section 2.5(a) of this Agreement.

 

2.7 Second and Third Installmenrt
Payments and Closings. Subject to the occurrence of Initial Closing and other terms and conditions hereunder, Purchaser shall pay
its Second Installment (i.e., RMB67,000,000) of its Subscription Amount within three (3) months after the Initial Closing (“Second
Installment Closing”), and Third Installment (i.e., RMB66,000,000) of its Subscription Amount within six (6) months after
the Initial Closing (“Third Installment Closing”), into the capital account of the OpCo as a contribution of Registered Capital,
and OpCo shall deliver to Purchaser its Registered Capital, as determined pursuant to the OpCo Capital Increase Agreement. Upon satisfaction
of the covenants and conditions set forth in the OpCo Capital Increase Agreement with respect to such Installment Closing, the Second
Installment Closing and Third Installment Closing shall occur at the offices of the Company or such other location as the parties shall
mutually agree.

 

2.8. Exchange.

 

		(a)	At any time following the six (6) month anniversary of a Closing and prior to 5:30 p.m. (New York City
time) on the five (5) year anniversary of such Closing; provided, that in the event such day is not a Business Day, then on the next Business
Day (the “Exchange Termination Date”), and subject to the limitations set forth in clause (b) below, Purchaser or its
nominee shall have the right, by providing written notice to the Company, Sen Lang and the OpCo within the time periods set forth above,
to elect to (i) exchange its Registered Capital of the OpCo for shares of Common Stock of the Company based upon the Per Share Exchange
Price, or (ii) exchange its Registered Capital of the OpCo for shares of Sen Lang based upon the Per Sen Lang Share Exchange Price.

 

    	 	7	 

     

    

 

In the event the Purchaser elects to
exchange its Registered Capital of the OpCo for shares of Common Stock of the Company, the Purchaser or the Purchaser’s nominee
shall be entitled to receive a number of shares of Common Stock of the Company equal to Purchaser’s original Subscription Amount
as fully paid (i) converted at the Exchange Rate and (ii) divided by the Per Share Exchange Price. For example, in the event a Purchaser
desires to exchange RMB 6,500,000 (or $1,000,000 in USD (assuming the Exchange Rate is 6.5 on the date of the exchange notice) of its
Registered Capital for shares of Common Stock of the Company (using the Per Share Exchange Price of $1.21), it would provide written notice
to the Company and the OpCo of the amount to be exchanged, in this case $1,000,000, and the Purchaser or the Purchaser’s nominee
would receive 826,446 shares of Common Stock of the Company (rounded down to the nearest whole number of shares of Common Stock) and the
$1,000,000 (or equivalent amount in RMB) of Registered Capital would be transferred to the Company’s nominee by the OpCo as per
Section 2.7(c) hereof. During the period from date of this agreement to the earlier date of: (i) Exchange Date; or (ii) Exchange Termination
Date, the Per Share Exchange Price shall be adjusted to reflect any stock split, reclassification, combination or other similar change
to the Company’s Common Stock.

 

In the event the Purchaser elects to
exchange its Registered Capital of the OpCo for shares of Sen Lang, the Purchaser or the Purchaser’s nominee shall be entitled to
receive a number of shares of Sen Lang equal to Purchaser’s original Subscription Amount as fully paid (i) converted at the Exchange
Rate and (ii) divided by the Per Sen Lang Share Exchange Price. For example, in the event a Purchaser desires to exchange RMB 6,500,000
(or $1,000,000 in USD (assuming the Exchange Rate is 6.5 on the date of the exchange notice) of its Registered Capital for shares of Sen
Lang (using the Per Sen Lang Share Exchange Price of $20,014.4918), it would provide written notice to the Company, Sen Lang and the OpCo
of the amount to be exchanged, in this case $1,000,000, and the Purchaser or the Purchaser’s nominee would receive 49 shares of
Sen Lang (rounded down to the nearest whole number of shares of Sen Lang) and the $1,000,000 (or equivalent amount in RMB) of Registered
Capital would be transferred to the Company’s nominee by the OpCo as per Section 2.7(c) hereof. During the period from date of this
agreement to the earlier date of: (i) Exchange Date; or (ii) Exchange Termination Date, the Per Sen Lang Share Price shall be adjusted
to reflect any stock split, reclassification, combination or other similar change to the Sen Lang capital stock.

 

		(b)	Purchaser hereby agrees that it shall not be entitled to exchange the Registered Capital purchased by
Purchaser under the OpCo Capital Increase Agreement into shares of Common Stock of the Company pursuant to the terms of this Agreement
until the six (6) month anniversary of each Closing, and in each case following such six (6) month period until the Exchange Termination
Date, shall not be eligible to exchange Registered Capital for shares of Common Stock of the Company pursuant to the terms of this Agreement
in an amount exceeding more than 10% of Purchaser’s Subscription Amount as fully paid in any thirty (30) day period.

 

		(c)	Notwithstanding anything to the contrary, if at the time of such exchange pursuant to the terms of this
Agreement, the Company, in its reasonable judgement, is restricted from directly owning any equity interest in the OpCo, the Company may
designate a PRC entity or individual as its nominee to receive and hold on its behalf the Registered Capital of the OpCo tendered by Purchaser
for such Share exchange. The transfer of Registered Capital by Purchaser to such Company nominee holder shall be at a nominal price. Purchaser
shall jointly and severally indemnify and hold harmless, the Company and the OpCo, and their respective affiliates from and against all
taxes, including all penalties and interests assessed and/or imposed by the PRC tax authority, including all costs, expenses, damages
and losses arising or resulting from or in connection with the transfer of Registered Capital in this Section 2.7(c).

 

		(d)	Notwithstanding anything to the contrary, if at the time of such exchange pursuant to the terms of this
Agreement, the Purchaser, in its reasonable judgement, is restricted from directly receiving the Common Stock of the Company or the shares
of Sen Lang pursuant to this Agreement, the Purchaser may designate an entity as its nominee to receive and hold on its behalf the the
Common Stock of the Company or the shares of Sen Lang issued by such the Company or Sen Lang for such share exchange.

 

    	 	8	 

     

    

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations and
Warranties of the Company. Except as set forth in the SEC Reports, the Company hereby makes the following representations and warranties
to each Purchaser:

 

(a) Organization
and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to
own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary is in
violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational
or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign
corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected
to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse
effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries,
taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis
its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no Proceeding
has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority
or qualification.

 

(b) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The
execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further
action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith or therewith other
than in connection with the Required Approvals. This Agreement and each other Transaction Document to which it is a party has been (or
upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute
the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except (i) as limited by
general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting
enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive
relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

(c) No Conflicts.
The execution, delivery and performance by the Company of this Agreement, the issuance of the Shares upon an exchange hereunder and the
consummation by it of the transactions contemplated hereby do not and will not (i) conflict with or violate any provision of the Company’s
or any Subsidiary’s certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict
with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation
of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment,
anti-dilution or similar adjustments, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement,
credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company
or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or (iii) subject
to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or
other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including federal and state
securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the
case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.

 

(d) Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to,
or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection
with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) the notice and/or application(s)
to each applicable Trading Market for the issuance of the Shares upon an exchange hereunder and the listing of the Shares for trading
thereon in the time and manner required thereby and (ii) the filing of Form D with the Commission, if required, and such filings as are
required to be made under applicable state securities laws (collectively, the “Required Approvals”).

 

(e) Issuance
of the Shares. The Company and Seng Lang, individually, but not jointly represents that, with respect to its own Common Stock or capital
stock: the Common Stock or the shares of Sen Lang are duly authorized and, when issued upon an exchange in accordance with this Agreement,
will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company or Sen Lang other than
restrictions on transfer provided for in the Transaction Documents. The Company or Sen Lang has reserved from its duly authorized capital
stock the maximum number of shares issuable upon an exchange hereunder.

 

    	 	9	 

     

    

 

(f) SEC Reports.
The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities
Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter
period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto
and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”) on a timely
basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such
extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act
and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading.

 

3.2 Representations and
Warranties of Purchaser. Purchaser hereby represents and warrants as of the date hereof and as of the date of each Closing and upon
any exchange hereunder to the Company as follows (unless as of a specific date therein, in which case they shall be accurate as of such
date):

 

(a) Organization;
Authority. Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under
the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar
power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry
out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by Purchaser of
the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited
liability company or similar action, as applicable, on the part of Purchaser. Each Transaction Document to which it is a party has been
duly executed by Purchaser, and when delivered by Purchaser in accordance with the terms hereof, will constitute the valid and legally
binding obligation of Purchaser, enforceable against it in accordance with its terms, except (i) as limited by general equitable principles
and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’
rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies
and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

(b) Own Account.
Purchaser understands that the Shares upon issuance in connection with an exchange hereunder will be “restricted securities”
and have not been registered under the Securities Act or any applicable state securities law and will be acquiring the Shares as principal
for its own account and not with a view to or for distributing or reselling such Shares or any part thereof in violation of the Securities
Act or any applicable state securities law, has no present intention of distributing any of such Shares in violation of the Securities
Act or any applicable state securities law and has no direct or indirect arrangement or understandings with any other persons to distribute
or regarding the distribution of such Shares in violation of the Securities Act or any applicable state securities law (this representation
and warranty not limiting Purchaser’s right to sell the Sharesotherwise in compliance with applicable federal and state securities
laws). Purchaser is acquiring the Shares hereunder in the ordinary course of its business.

 

(c) Purchaser
Status. At the time Purchaser was offered the Shares, it was, and as of the date hereof it is, and on each date on which it makes
an exchange for any Shares hereunder, it will be either: (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2),
(a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under
the Securities Act.

 

(d) Experience
of Purchaser. Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business
and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has
so evaluated the merits and risks of such investment. Purchaser is able to bear the economic risk of an investment in the Shares and,
at the present time, is able to afford a complete loss of such investment.

 

(e) General Solicitation.
Purchaser became aware of the Offering and was offered the Shares solely by means of direct contact between Purchaser and the Company,
and not by any other means. Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other communication
regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar
or, to the knowledge of Purchaser, any other general solicitation or general advertisement.

 

    	 	10	 

     

    

 

(f) Access to
Information. Purchaser acknowledges that it has had the opportunity to review the Transaction Documents (including all exhibits and
schedules thereto) and the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of,
and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Shares and the
merits and risks of investing in the Shares; (ii) access to information about the Company and its financial condition, results of operations,
business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain
such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make
an informed investment decision with respect to the investment.

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1 Transfer Restrictions.

 

(a) The Shares acquired
in an exchange of Common Stock of the Company hereunder may only be disposed of in compliance with state and federal securities laws of
the United States. In connection with any transfer of Shares other than pursuant to an effective registration statement or Rule 144, to
the Company or to an Affiliate of a Purchaser or in connection with a pledge as contemplated in Section 4.1(b), the Company may require
the transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company,
the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require
registration of such transferred Shares under the Securities Act. As a condition of transfer, any such transferee shall agree in writing
to be bound by the terms of this Agreement and shall have the rights and obligations of a Purchaser under this Agreement.

 

(b) Purchaser agrees
to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Shares in the following form:

 

THIS SECURITY HAS NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT 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.

 

(c) Purchaser agrees
with the Company that Purchaser will sell any Shares pursuant to either the registration requirements of the Securities Act, including
any applicable prospectus delivery requirements, or an exemption therefrom.

 

4.2 Reservation of Common
Stock. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at all times,
free of preemptive rights, a sufficient number of shares of Common Stock for the purpose of enabling the Company to issue the Shares upon
exchange of the Registered Capital of the OpCo as set forth herein.

 

ARTICLE V.

MISCELLANEOUS

 

5.1 Termination. This
Agreement may be terminated by any Purchaser or the Company in the event that the Acquisition Closing shall not have occurred on or prior
to December 31, 2021.

 

5.2 Fees and Expenses.
Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred
by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement and the other Transaction
Documents.

 

5.3 Entire Agreement.
The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect
to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect to such
matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

    	 	11	 

     

    

 

5.4 Notices. Any and
all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed
given and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered via facsimile at the
facsimile number or email attachment at the email address as set forth on the signature pages attached hereto at or prior to 5:30 p.m.
(New York City time) on a Trading Day, (b) the next Trading Day after the time of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto on
a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading
Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party
to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages
attached hereto.

 

5.5 Amendments; Waivers.
No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of
an amendment, by the Company and the Purchasers which purchased at least 50.1% in interest of the Registered Capital based on the initial
Subscription Amounts under the OpCo Capital Increase Agreement (or prior to the Closing, the Company and each Purchaser). No waiver of
any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the
future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay
or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right. Any amendment effected in
accordance with this Section 5.5 shall be binding upon each Purchaser and the Company.

 

5.6 Headings. The headings
herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions
hereof.

 

5.7 Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Company may
not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger).
Purchaser may assign any or all of its rights under this Agreement to any Person to whom Purchaser assigns or transfers any Registered
Capital or any rights under OpCo Capital Increase Agreement, provided that such transferee agrees in writing to be bound, with respect
to the transferred Registered Capital, by the provisions of the Transaction Documents that apply to the “Purchaser.”

 

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

 

5.9 Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed by
and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts
of law thereof. Each party agrees that all legal Proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates,
directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts
sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably
waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction of any such
court, that such Action or Proceeding is improper or is an inconvenient venue for such Proceeding. Each party hereby irrevocably waives
personal service of process and consents to process being served in any such Action or Proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

5.10 Survival. The
representations and warranties contained herein shall survive the Closing and the delivery of the Shares.

    	 	12	 

     

    

 

 

5.11 Execution. This
Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that
the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery
of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original
thereof.

 

5.12 Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force
and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts
to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

5.13 Remedies. In addition
to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the Purchasers and
the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not
be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents and hereby
agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy at law would
be adequate.

 

5.14 Saturdays, Sundays,
Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein
shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

 

5.15 Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction Documents
and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall
not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and every reference to
share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits,
stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement.

 

5.16 WAIVER OF JURY
TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY
AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES
FOREVER TRIAL BY JURY. 

 

(Signature Pages Follow)

 

    	 	13	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Securities Exchange Agreement to be duly executed by their respective authorized signatories as of the date first
indicated above.

 

	AVALON GLOBOCARE CORP. 	 	Address for Notice:
	 	 	 	 
	By:	/s/ Dr. David Jin	 	Email:
	Name:	Dr. David Jin	 	Fax:
	Title:	CEO	 	 
	 	 	 	 
	
    With a copy to (which shall not constitute notice):

     

    Lowenstein Sandler LLP

    1251 Avenue of the Americas

    New York, New York 10021

    Attn: Steven M. Skolnick, Esq.

    Email: sskolnick@lowenstein.com
	 	 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Securities Exchange Agreement to be duly executed by their respective authorized signatories as of the date first
indicated above.

 

	SENLANG BIOTECHNOLOGY CO. LTD.	 	Address for Notice:
	 	 	 	 
	By:	/s/ Ding Wei
	 	Email:
	Name:	Ding Wei	 	Fax:
	Title:	Chairman	 	 
	 	 	 	 
	
    With a copy to (which shall not constitute notice):

     

    JunHe LLP

    26/F HKRI Centre One, HKRI Taikoo Hui 288 Shimen Road (No.1), Shanghai
    200041, P. R. China

    Attn: Frank Zhou

    Email: zhouf@junhe.com
	 	 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Securities Exchange Agreement to be duly executed by their respective authorized signatories as of the date first
indicated above.

 

	LONLON BIOTECH LTD.	 	Address for Notice:
	 	 	 	 
	By:	/s/ Ding Wei
	 	Email:
	Name:	Ding Wei	 	Fax:
	Title:	Director	 	 
	 	 	 	 
	
    With a copy to (which shall not constitute notice):

     

    Lowenstein Sandler LLP

    1251 Avenue of the Americas

    New York, New York 10021

    Attn: Steven M. Skolnick, Esq.

    Email: sskolnick@lowenstein.com
	 	 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

     

     

    

 

[PURCHASER SIGNATURE PAGES TO SECURITIES EXCHANGE
AGREEMENT]

 

IN WITNESS WHEREOF, the undersigned
have caused this Securities Exchange Agreement to be duly executed by their respective authorized signatories as of the date first indicated
above.

 

Name of Purchaser: Yueyin Datong (Tianjin) Asset
Management Co. Ltd. (in Chinese, 约印大通(天津)资产管理有限公司)

 

 

	Signature of Authorized Signatory of Purchaser:	/s/ Xiong Shuirou
	(Seal)	 
	 	 
	Name of Authorized Signatory: 	Xiong Shuirou
	 	 
	Title of Authorized Signatory: 	President, Partner
	 	 
	Email Address of Authorized Signatory:	 

 

Address for Notice to Purchaser:

 

1-708, Chuangzhi Building, 482 Dongmanzhong Road, Sino-Singapore Tianjin
Eco-city, Binhai New Area, Tianjin City, P.R. China

(中国天津市滨海新区中新天津生态城动漫中路482号创智大厦1-708)

 

Address for Delivery of Shares to Purchaser upon an Exchange (if not
same as address for notice):

 

[SIGNATURE PAGES CONTINUE]

 

     

     

    

 

 

EXHIBIT A

 

CAPITAL INCREASE AGREEMENT

OF

SENLANG BIOTECHNOLOGY CO. LTD. (河北森朗生物科技有限公司)

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