Document:

Exhibit 4.29

 

Equity Interest Transfer Agreement

 

This Agreement is entered into by the following three Parties in Chengdu
on June 30, 2022.

 

Transferor: Yang Yuanfen (hereinafter referred to as “Party
A”)

ID Card No.: 510107197408210928

 

Transferee: Puyi Enterprises Management Consulting Co., Ltd. (hereinafter
referred to as “Party B”)

Unified Social Credit Code: 91510100MA68EQ4T56

 

Target Company: Chengdu Puyi Bohui Information Technology Co., Ltd.
(hereinafter referred to as “Party C”)

Unified Social Credit Code: 91510100594666757E

 

Whereas:

 

Party C is a limited liability company duly established
and in good standing under PRC laws with a registered and paid-in capital of RMB60,000,000, of which RMB576,000 was paid in by Party A
accounting for 0.96% of equity interest in Party C. As of the date hereof, both of Party C’s shareholders are duly vested with the
equity interests derived from their capital contributions.

 

By virtue of relevant laws and regulations, in
the principles of mutual benefit and good faith and upon amiable consultations, the three Parties to this Agreement have agreed as follows:

 

1. Equity Interest Transfer and Transfer Price

 

Party A intends to transfer to Party B its 0.96%
equity interest in Party C and Party B agrees to purchase said equity interest. Party A and Party B have reached consensus on a transfer
price for said equity interest of RMB1,565,590.99, to be paid in a lump sum by Party B to Party A within thirty (30) days after the Closing.

 

2. Closing

 

2.1 The Closing under this Agreement shall be subject
to conditions as follows:

 

2.1.1 As per the laws, regulations, administrative
rules and the three Parties’ respective articles of associations, the three Parties have taken corporate actions approving the equity
interest transfer contemplated hereunder;

 

2.1.2 In order to obtain approval from government
authorities on the change of shareholder in Party C (if any), the three Parties have agreed to render all-out support in providing relevant
materials and information;

 

     

     

    

 

2.1.3 All the representations and warranties made
by the three Parties hereunder are true, complete, accurate and absent from material misstatement or concealment and shall remain effective
as of the Closing;

 

2.1.4 The three Parties have duly performed their
respective obligations required to be performed before the Closing as per the terms and conditions hereunder.

 

2.2 Upon the Closing or from another date specified
by the three Parties in writing, all the rights enjoyed and obligations assumed by Party A in respect of such equity interest shall be
assigned to Party B along with the equity interest, to be enjoyed and assumed by Party B as per the articles of association of Party C.

 

3. Representations, Warranties and Covenants of the Three Parties

 

3.1 Representations, Warranties and Covenants of
Party A

 

Party A affirms that the following representations
and warranties of Party A are true, complete, accurate and effective:

 

3.1.1 Party A is a registered shareholder of a limited
liability company duly established and in good standing under PRC laws, legitimately owns the equity interest in Party C intended to be
transferred and is the sole title holder of such equity interest;

 

3.1.2 Except for those in favor of Party B, Party
A has not created on such equity interest any collateralization, pledge, guarantee, custodianship or encumbrance for its own or any third
party’s interest, nor any other obstacle that may result in third party’s recourse or claim against such equity interest;

 

3.1.3 Upon effective date hereof, except for this
Agreement, there is not any binding agreement, decision or third-party right to sell, transfer, assign, pledge or dispose by other means
such equity interest owned by Party A;

 

3.1.4 As to the execution and performance of this
Agreement, Party A has duly obtained all external and internal authorizations required to execute and perform this Agreement and has adequate
authority and capacity to execute this Agreement and perform all of the obligations hereunder;

 

3.1.5 Party A has obtained Party C’s resolution
of shareholders approving transfer by Party A of such equity interest;

 

3.1.6 Upon execution, this Agreement shall be of
full binding effect on Party A; the execution or performance of obligations, terms and conditions under this Agreement will not result
in Party A’s breach of any compulsory provisions of any law, regulation, administrative rule, administrative decision or effective
judgment, nor of any provisions under Party C’s articles of association or board resolutions;

 

3.1.7 Party A covenants to cooperate proactively
in completing formalities for change of equity interest in Party C.

 

    2

     

    

 

3.2 Representations, Warranties and Covenants of
Party B

 

Party B affirms that the following representations
and warranties of Party B are true, complete, accurate and effective:

 

3.2.1 As to the execution and performance of this
Agreement, Party B has obtained all approvals and permits required and has adequate authority and capacity to execute this Agreement and
perform all of the obligations hereunder;

 

3.2.2 Upon execution, this Agreement shall be of
full binding effect on Party B; the execution or performance of obligations under this Agreement will not result in Party B’s breach
of any compulsory provisions of any law, regulation, administrative rule, administrative decision or effective judgment, nor of any terms,
conditions or covenants under its agreement with any third party, and will not result in any conflicts of interest;

 

3.2.3 Party B has prepared sufficient funds and
has made adequate financial arrangement for its performance of the obligations hereunder, and such funds and arrangement are sufficient
for the performance of its payment obligations hereunder as per the terms and conditions hereof;

 

3.2.4 Party B acknowledges Party C’s contracts
and articles of association and covenants to perform the obligations and liabilities thereunder.

 

3.3 Representations, Warranties and Covenants of
Party C

 

Party C affirms that the following representations
and warranties of Party C are true, complete, accurate and effective:

 

3.3.1 As to the execution and performance of this
Agreement, Party C has notified and obtained consent from its shareholder(s) other than Party A; Party C has obtained all approvals and
permits required and has adequate authority and capacity to execute this Agreement and perform all of the obligations hereunder;

 

3.3.2 Upon execution, this Agreement shall be of
full binding effect on Party C; the execution or performance of obligations under this Agreement will not result in Party C’s breach
of any compulsory provisions of any law, regulation, administrative rule, administrative decision or effective judgment, nor of any terms,
conditions or covenants under its agreement with any third party, and will not result in any conflicts of interest;

 

3.3.3 Party C has prepared sufficient funds and
has made adequate financial arrangement for its performance of the obligations hereunder, and such funds and arrangement are sufficient
for the performance of its payment obligations hereunder as per the terms and conditions hereof;

 

3.3.4 Party C acknowledges the Company’s contracts
and articles of association and covenants to perform the obligations and liabilities thereunder.

 

    3

     

    

 

4. Confidentiality

 

4.1 All the three Parties agree to keep in confidentiality
of all commercial, technical and financial information in connection with the negotiation, execution and performance of this Agreement
and other relevant documents, materials, information, data and so forth while not to disclose such information to any third party or use
the information for any other purpose.

 

4.2 Clause 4.1 of this Agreement shall not apply
to the following information:

 

4.2.1 Information in public domain or accessible
by other public means as per this Agreement;

 

4.2.2 Information obtained by a Party without breaching
its confidentiality obligation; or

 

4.2.3 Information required by applicable laws to
be disclosed by a Party.

 

4.3 The term of the confidentiality obligations
under this Agreement shall be three (3) years from the date the relevant personnel knows, grasps, understands or is in contact with the
confidential information.

 

5. Costs and Taxations

 

5.1 The taxes incurred in the course of this equity
interest transfer shall be borne by the three Parties respectively as provided by law.

 

5.2 All other charges incurred in the course of
this equity interest transfer (including but not limited to the fees charged for change in AIC registration) shall be borne by Party C.

 

6. Breach of Contract Liabilities

 

6.1 Any of the following circumstances on the part
of any Party to this Agreement shall constitute breach of contract:

 

6.1.1 Failure to perform any obligation hereunder;

 

6.1.2 Breach of any representation, warranty or
covenant hereunder; or

 

6.1.3 Any untrue or misleading representation or
warranty hereunder (whether or not in good faith).

 

6.2 In the event of any breach mentioned above,
the non-defaulting Party has the right to require the defaulting Party to amend such breach within thirty (30) days after the occurrence
of or the non-defaulting Party’s knowledge of such breach; should the defaulting Party fail to amend such breach within the specified
time period, the non-defaulting Party has the right to terminate this Agreement and claim damages and breach of contract liabilities against
the defaulting Party.

 

    4

     

    

 

7. Force Majeure

 

7.1 Where a force majeure event renders certain
Party/Parties unable to perform its/their obligations as per the terms and conditions hereof, such Party/Parties may be exempted from
breach of contract liabilities by law or this Agreement to the extent of the effect of such force majeure event.

 

7.2 The Party/Parties alleging force majeure event
prevents its/their performance(s) of the obligations hereunder must perform the following obligations before invoking 7.1 hereof for exemption
from breach of contract liabilities:

 

7.2.1 Actively taking all necessary measures to
reduce or eliminate effect of the force majeure event so as to reduce losses caused thereby, otherwise there would be no exemption of
liabilities for the part of enlarged losses;

 

7.2.2 Notifying the other Party/Parties promptly,
in no event later than fifteen (15) days after occurrence of such force majeure event;

 

7.2.3 Endeavoring to resume performance of the obligations
affected by the force majeure event ASAP; and

 

7.2.4 Providing adequate evidence proving occurrence
and duration of the force majeure event.

 

7.3 Performance in the case of a force majeure event:

 

7.3.1 Where any Party/Parties is/are prevented by
a force majeure event from performing its/their obligations hereunder in whole or in part, the other Party/Parties hereto shall continue
performance of this Agreement in all other respects;

 

7.3.2 Should the force majeure event last for over
ninety (90) days, the Parties hereto may consult with each other amiably on how to continue performance hereof or seek for other equitable
solutions, and use all reasonable efforts to reduce the effect of such force majeure event to the minimum.

 

8. Governing Law

 

The execution, effect, construction, performance
and dispute resolution of this Agreement shall be governed by relevant PRC laws.

 

9. Dispute Resolution

 

9.1 All disputes arising out of or in connection
with this Agreement shall be resolved by the three Parties through amiable consultations;

 

9.2 Should the three Parties hereto fail to resolve
the aforesaid disputes amiably within sixty (60) days after occurrence of the dispute, any of the Parties may bring a lawsuit before a
People’s Court with jurisdiction in the place where this Agreement is executed.

 

    5

     

    

 

10. Miscellaneous

 

10.1 This Agreement shall constitute the entire
representations and agreements among the three Parties and supersede all prior oral or written representations, warranties, understandings
and agreements in respect of the subject matter of this Agreement. Party A’s rights and obligations under the Exclusive Option
Agreement and the Equity Interest Pledge Agreement shall cease to be effective and the effect of the Spouse Consent Letter
on the part of Party A shall cease forthwith.

 

10.2 All the provisions of this Agreement shall
be separate and severable from each other; where any provision is found as illegal, ineffective or unenforceable by governments, government
agencies or judicial authorities, the effect of other provisions hereof shall not be affected thereby.

 

10.3 The three Parties hereto agree that, after
execution of this Agreement, further consultations may be carried out on any matter not provided for hereunder and written supplementary
agreement may be entered into. Such supplementary agreement shall constitute an integral part of this Agreement and shall have the same
legal effect as this Agreement.

 

10.4 This Agreement shall take effect upon being
signed and sealed by the three Parties.

 

10.5 This Agreement is made in Chinese with four
originals; each of the three Parties is to hold one and the fourth shall be used for approval or filing purpose. All the originals shall
have the same legal effect.

 

Transferor (Party A): Yang Yuanfen

Signature: /s/ Yang Yuanfen

 

Transferee (Party B): Puyi Enterprises Management Consulting Co., Ltd.
(Company seal affixed)

Legal Representative Signature/Seal: Yu Haifeng (Seal affixed)

 

Target Company (Party C): Chengdu Puyi Bohui Information Technology
Co., Ltd. (Company seal affixed)

Legal Representative Signature/Seal: Yu Haifeng (Seal affixed)

 

Place of Execution: Chengdu, Sichuan Province

Date: June 30, 2022

 

 

6appliedblockchain-xrsugr

  Error! Unknown document property name.  RESTRICTED STOCK UNIT AWARD    as of January 14, 2022      The parties to this Restricted Stock Unit Award are Applied Blockchain, Inc. a Nevada  Corporation (the “Company”), and Roland Davidson (“Consultant”), a third-party consultant to  the Company.    Pursuant to the terms of that certain consulting services agreement between the  Company and Consultant dated as of July 1, 2021 (the “Agreement”), the Company desires to  engage Consultant to provide the services specified in the Agreement to the Company, and to  provide Consultant with an incentive to put forth maximum effort for the success of the  Company’s business.    In accordance with Section 3(c) of the Agreement, the Company has agreed to grant  Consultant an award (“Award”) in the form of 750,000 restricted stock units (“RSUs”) subject to  the terms and conditions herein set forth.    This RSU Award is a material inducement for Consultant to provide services to the  Company pursuant to the Agreement.    Accordingly, intending to be legally bound hereby, the parties agree as follows:    ARTICLE I  Definitions    The following definitions shall apply for purposes of this Award:    1.1 “Board” shall mean the Board of Directors of the Company.  1.2 “Cause” shall mean any of the following events--   (a) indictment or conviction of, or plea of nolo contendere to, (i) any felony,  or (ii) another crime involving dishonesty or moral turpitude, or  Consultant’s engaging in any embezzlement, financial misappropriation or  fraud, related to his consulting with, or provision of services to, the  Company or any subsidiary or affiliate;  (b) engaging in any willful misconduct or gross negligence or willful act of  dishonesty, including any violation of federal securities laws, or violence  or threat of violence, which is materially injurious to the Company or any  subsidiary or affiliate;  (c) repeated abuse of alcohol or drugs (legal or illegal) that, in the Company’s  reasonable judgment, materially impairs Consultant’s ability to perform  the Services under the Agreement; or  DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E 

 

   2  Error! Unknown document property name.  (d) willful and knowing breach or violation of any material provision of the  Agreement, including, but not limited to, any applicable confidentiality,  non-solicitation and non-competition requirements thereof.  1.3 “Change of Control” means the occurrence of any of the following events --   (i) Any Person, other than (x) a fiduciary holding securities under an  employee benefit plan of the Company or any subsidiary or affiliate, or (y)  any corporation owned, directly or indirectly, by shareholders of the  Company in substantially the same proportions as their ownership of the  Company’s Common Stock becomes the Beneficial Owner, directly or  indirectly, of securities of the Company representing 50% or more of the  total voting power represented by the Company's then outstanding voting  securities;  (ii) the sale or disposition by the Company of all or substantially all of the  Company’s assets;  (iii) the members of the Board of Directors as of the Effective Date (the  “Incumbent Directors”) and any successor director whose appointment is  endorsed by the Incumbent Directors or any such duly-endorsed successor  director cease to constitute a majority of the Board; or  (iv) a merger or consolidation of the Company with any other corporation,  other than a merger or consolidation which would result in the voting  securities of the Company outstanding immediately prior thereto  continuing to represent (either by remaining outstanding or by being  converted into voting securities of the surviving entity or its parent) at  least fifty percent (50%) of the total voting power represented by the  voting securities of the Company or such surviving entity or its parent  outstanding immediately after such merger or consolidation.  For purposes of this Section 1.3—  “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the  Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group”  as defined in Section 13(d) thereof;  and   “Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 of  the General Rules and Regulations under the Exchange Act.                                    1.4 “Code” shall mean the U.S.  Internal Revenue Code of 1986, as amended from  time to time, and any applicable regulations thereunder and any successor or similar provision.  1.5 “Committee” shall mean the Compensation Committee of the Board or a  subcommittee thereof, or any other committee designated by the Board to administer this Award.   The members of the Committee shall (i) be appointed from time to time by and shall serve at the  discretion of the Board, and (ii) shall consist of “non-employee directors” as defined in Section  16 of the Exchange Act.  If the Committee does not exist or cannot function for any reason, the  DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E 

 

   3  Error! Unknown document property name.  Board may take any action under this Award that would otherwise be the responsibility of the  Committee.  1.6 “Common Stock” shall mean shares of the Company’s common stock.  1.7  “Effective Date” shall mean July 1, 2021.  1.8 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.  1.9 “Merger” shall mean any merger, reorganization, consolidation, share exchange,  transfer of assets or other transaction having similar effect involving the Company.  1.10 “The Trading Market” means, initially, OTC Markets (including OTCQX,  OTCQB and Pink Markets), or any of the following other markets that becomes the primary  trading market for the Common Stock: The Nasdaq Capital Market, The Nasdaq Global Market,  The Nasdaq Global Select Market, the New York Stock Exchange or the NYSE American (or  any nationally recognized successor to any of the foregoing).  ARTICLE II  Grant of RSUs    2.1 On January 5, 2022 (the “Grant Date”), the Company granted to Consultant this  Award in the form of 750,000 RSUs.  Each RSU shall have a value equal to one share of the  Company’s Common Stock.    2.2 The RSUs shall be subject to the terms and conditions of this Award.    2.3 Except as provided in this Award, the RSUs shall remain unvested,  nontransferable and are subject to a substantial risk of forfeiture.  In addition, the RSUs shall not  be vested, and Consultant’s interest in the RSUs granted hereunder shall be forfeited, except to  the extent that the provisions of this Award are satisfied.    ARTICLE III  Vesting of RSUs    3.1 Consultant’s RSUs shall be vested in accordance with this Article III.    3.2 The RSUs shall vest in accordance with the following schedule and subparagraph  (b) below—    (a) 75,000 of Consultant RSUs shall vest upon:  (i) the date on which the first 50 megawatts of power becomes  available, and fully operational to provide cryptocurrency mining  colocation services at a facility that includes work product  developed in whole or in part by Consultant; and  DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E 

 

   4  Error! Unknown document property name.  (ii) each subsequent date upon which an additional 50 megawatts of  power becomes available, and fully operational to provide  cryptocurrency mining colocation services, at a facility that  includes work product developed in whole or in part by Consultant.  (b) Notwithstanding subparagraph (a) above, full vesting of any Consultant  RSUs shall not occur until the date a registration statement including the  resale of the Company’s common stock is declared effective by the  Securities and Exchange Commission.  (c) Should capacity additions not be in increments of 50 MW, the above RSU  vesting will be prorated.  3.3 Subject to Section 3.4 and Article V of this Award, all RSUs that are forfeitable  shall be forfeited if Consultant’s Services under the Agreement shall be terminated for any  reason.  3.4 Notwithstanding the provisions of Section 3.3 hereof, if, prior to the forfeiture of  this Stock Award under Section 3.3, Consultant experiences a Qualifying Termination Event (as  defined in Section 3.5), all RSUs that are forfeitable shall become fully vested upon the  Qualifying Termination Event.    3.5 For purposes of this RSU Award, “Qualifying Termination Event” shall mean  Consultant’s death, Disability, or termination of services by the Company other than for Cause.   “Disability” for purposes of this Section 3.5 shall mean Consultant’s permanent and total  disability within the meaning of Section 22(e)(3) of the Code.  ARTICLE IV  Payment of the RSUs     4.1 Payment of the vested RSUs shall be made as soon as practicable after the RSUs  have vested, but in no event later than March 15th of the calendar year after the calendar year in  which the RSUs vest.   4.2 The vested RSUs shall be paid in cash or whole shares of Common Stock or a  combination thereof, as determined in the sole discretion of the Company.  4.3 Consultant covenants and agrees that it will prepare all applicable income and  information tax returns and all other governmental reports of any kind and report and pay all  taxes resulting from the grant and vesting of the RSUs. Consultant shall be liable for and shall  indemnify Company with respect to all taxes, contributions and penalties imposed on the  Company by any governmental or other public authority having jurisdiction with respect to or  measured by the income or profit received by Consultant pursuant to this Award.    4.4 If Consultant dies prior to the payment of his vested RSUs, any vested RSUs shall  be paid to his Beneficiary.  Consultant shall have the right to designate a Beneficiary on a form  filed with the Committee; if Consultant fails to designate a Beneficiary, or if at the time of  DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E 

 

   5  Error! Unknown document property name.  Consultant’s death there is no surviving Beneficiary, any vested RSUs will go to Consultant’s  estate.    ARTICLE V  Change in Control    5.1 In the event of a Change in Control prior to the forfeiture of the RSUs under  Section 3.3, the provisions of this Article V shall apply.  (a) Subject to subparagraphs (b) and (d) of this Section 5.1, if, upon a Change in  Control, Consultant receives a new award which qualifies as a Replacement Award (as defined  below), the Replacement Award shall replace this Award and continue subject to the  Replacement Award’s terms.  (i) A “Replacement Award” is an award that substitutes for this Award and  meets the following requirements:  (i) it has a value at least equal to the  value of this Award as determined under applicable law and by the  Committee in its sole discretion; (ii) it relates to publicly traded equity  securities of the Company or its successor in the Change in Control or  another entity that is affiliated with the Company or its successor  following the Change in Control; and (iii) its other terms and conditions  are not less favorable to Consultant than the terms and conditions of this  Award (including the provisions that would apply in the event of a  subsequent Change in Control).  Without limiting the generality of the  foregoing, the Replacement Award may take the form of a continuation of  this Award if the requirements of the preceding sentence are satisfied.  The  determination of whether the conditions of a Replacement Award are  satisfied shall be made by the Committee, as constituted immediately  before the Change in Control, in its sole discretion.    (b) If, following a Change in Control, the Company’s shares continue to be traded on  The Trading Market or another established securities market, this Award shall continue in effect  and be treated as a Replacement Award.  (c) If, upon a Change in Control that results in the Company’s shares no longer being  traded on The Trading Market or another established securities market and no Replacement  Award is granted to Consultant, the unvested portion of this Award shall become vested  immediately prior to the consummation of the Change in Control.  (d) Notwithstanding the foregoing, upon a Change in Control, the Committee may  determine that this Award shall be canceled and terminated for consideration instead.  (e) If, in connection with a Change of Control, Consultant’s payment of this Award  will cause Consultant to be liable for federal excise tax under Code Section 4999 levied on  certain “excess parachute payments” as defined in Code Section 280G (“Excise Tax”), then the  payments made pursuant to the Awards shall be reduced (or repaid to the Company, if previously  paid or provided) as provided below:  DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E 

 

   6  Error! Unknown document property name.  (i) If the payments due upon a Change of Control under this Award and any  other agreement between Consultant and the Company, exceed 2.99 times  Consultant’s “base amount,” as defined in Code Section 280G, a reduced  payment amount shall be calculated by reducing the payments to the  minimum extent necessary so that no portion of any payment, as so  reduced or repaid, constitutes an excess parachute payment.  If it is  determined that any Excise Tax is payable by Consultant, Consultant shall  receive either (i) all payments otherwise due; or (ii) the reduced payment  amount described in the preceding sentence, whichever will provide  Consultant with the greater after-tax economic benefit taking into account  for these purposes any applicable excise tax.    (ii) Whether payments are to be reduced pursuant to this subparagraph (e), and  the extent to which they are to be so reduced, will be determined solely by  the Company in good faith and the Company will notify Consultant in  writing of its determination.    (iii) In no event shall Consultant be entitled to receive any kind of gross-up  payment or excise tax reimbursement from the Company.    ARTICLE VI  Miscellaneous    6.1 The terms of this RSU shall be adjusted as the Committee determines is equitable  in the event the Company effects one or more stock dividends, stock split-ups, subdivisions or  consolidations of shares or other similar changes in capitalization..    6.2 Whenever the term “Consultant” is used in any provision of this Award under  circumstances where the provision should logically be construed to apply to the executors, the  administrators, or the person or persons to whom the RSUs may be transferred by will or by the  laws of descent and distribution, the term “Consultant” shall be deemed to include such person or  persons.    6.3 The RSUs granted hereunder are not transferable by Consultant otherwise than by  will or the laws of descent and distribution.  No assignment or transfer of the RSUs granted  hereunder, or of the rights represented thereby, whether voluntary or involuntary, by the  operation of law or otherwise (except by will or the laws of descent and distribution), shall vest  in the assignee or transferee any interest or right herein whatsoever, but immediately upon any  such assignment or transfer the RSUs shall terminate and become of no further effect.    6.4 Consultant shall not be deemed for any purpose to be a shareholder of the  Company in respect of any shares as to which the RSUs shall not have been vested and paid in  Common Stock.    6.5 Nothing in this Award or otherwise shall obligate the Company to vest any of the  RSUs, to permit the RSUs to be earned and vested other than in accordance with the terms hereof  DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E 

 

   7  Error! Unknown document property name.  or to grant any waivers of the terms of this Award, regardless of what actions the Company, the  Board or the Committee may take or waivers the Company, the Board or the Committee may  grant under the terms of or with respect to any RSU now or hereafter granted to any other person  or any other RSU granted to Consultant.     6.6 Notwithstanding any other provision hereof, Consultant shall not earn or vest in  the RSUs granted hereunder, and the Company shall not be obligated to issue any shares to  Consultant hereunder, if the earning or vesting thereof or the issuance of such shares would  constitute a violation by Consultant or the Company of any provision of any law or regulation of  any governmental authority.  Any determination in this connection by the Company shall be final  and binding.  The Company shall in no event be obligated to register any securities pursuant to  the Securities Act of 1933 (as the same shall be in effect from time to time) or to take any other  affirmative action in order to cause the issuance of shares pursuant this RSU to comply with any  law or regulation of any governmental authority.    6.7 If the events described in Article III or V occur after the date that Consultant is  advised (upon recommendation by the Committee) that his Agreement with the Company is  being, or will be, terminated for Cause, on account of performance or in circumstances that  prevent him from being in good standing with the Company, accelerated vesting shall not occur  and all rights under this Award shall terminate, and this Award shall expire on the date of  termination of Consultant’s Agreement.  The Committee shall have the authority to determine  whether termination of Consultant is for Cause or for any reason other than Cause.    6.8 This Award shall be governed by the laws of the State of Texas applicable to  agreements made and performed wholly within the State of Texas (regardless of the laws that  might otherwise govern under applicable conflicts of laws principles) and applicable federal law.   All disputes arising under this Award shall be adjudicated solely within the State or Federal  courts located within the State of Texas, Dallas County, and in accordance with the resolution  provisions under the Agreement.    6.9 This Award sets forth a complete understanding between the parties with respect  to its subject matter and supersedes all prior and contemporaneous agreements and  understandings with respect thereto.  Except as expressly set forth in this Award, the Company  makes no representations, warranties or covenants to Consultant with respect to this Award or its  subject matter, including with respect to the current or future value of the shares subject to the  RSUs.  Any modification, amendment or waiver to this Award will be effective only if it is in  writing signed by the Company and Consultant.  The failure of any party to enforce at any time  any provision of this Award shall not be construed to be a waiver of that or any other provision  of this Award.    6.10 This Award shall be administered and interpreted solely by the Committee or its  delegated agent.  The interpretations and decisions of the Committee with regard to this RSU  shall be final and conclusive and binding upon Consultant.      6.11 It is the intent that this Award comply in all respects with Rule 16b-3 under the  Exchange Act and any related regulations.  If any provision of this Award is later found not to be  DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E 

 

   8  Error! Unknown document property name.  in compliance with such Rule and regulations, the provisions shall be deemed null and void.  The  provisions of the RSUs under this Award shall be executed in accordance with the requirements  of Section 16 of the Exchange Act and regulations promulgated thereunder.    6.12 Subject to the limitations set forth herein, this Award shall be binding upon and  inure to the benefit of the legatees, distributees, and personal representatives of Consultant and  the successors of the Company.    6.13 This Award is subject to the terms of any separate Clawback Policy maintained by  the Company, as such Policy may be amended from time to time.    6.14 Consultant hereby acknowledges receipt of a copy of this Award, and that he has  read and understands the terms and provisions hereof, and accepts the RSUs subject to all of the  terms and conditions of the Award.    6.15 In the event of any conflict between the provisions of this Award and the  provisions of the Agreement, the provisions of this Award shall govern.     [SIGNATURE PAGE TO FOLLOW] DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E 

 

  Error! Unknown document property name.    IN WITNESS WHEREOF, the parties hereto have executed this Award as of the day and  year first above written.          APPLIED BLOCKCHAIN, INC.            By:                 Name:         Title:            CONSULTANT:                             Roland Davidson  DocuSign Envelope ID: F3CB58CC-1FC1-4A9D-BEEB-A0D71E31DD0E David Rench Chief Financial Officer

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