Document:

DEMAND PROMISSORY NOTE

 

EXHIBIT 10.5

DEMAND PROMISSORY NOTE

		
	$3,400.00

	June 28, 2018

FOR VALUE RECEIVED, the undersigned, Paymeon, Inc. (“Maker”) promises to pay to the order of EAC Management, LLC, a Florida limited liability company (together with any subsequent holder hereof, “Holder”), the sum of THREE THOUSAND FOUR HUNDRED DOLLARS ($3,400.00). The Note shall be repayable on demand. The Note shall accrue interest at the rate of 4% per annum.

This Note may be prepaid in whole or in part without premium or penalty. All payments shall be made in lawful money of the United States of America and shall be applied first to fees and costs, including collection costs, if any, next to interest, if any, then to principal. The records of Holder with respect to amounts due and payments received hereunder shall be presumed to be correct evidence thereof.

No delay or omission on the part of Holder in exercising its rights under this Note, or delay or omission on the part of Holder in exercising its rights hereunder or under any instrument, document or agreement securing or executed in connection with this Note, or course of conduct relating thereto, shall operate as a waiver of such rights or any other right of Holder, nor shall any waiver by Holder of any such right or rights on any one occasion be deemed a bar to, or waiver of, the same right or rights on any future occasion. Acceptance by Holder of any payment after its due date shall not be deemed a waiver of the right to require prompt payment when due of all other sums, and acceptance of any payment after Holder has declared the indebtedness evidenced by this Note due and payable shall not cure any Event of Default or operate as a waiver of any right of Holder.

Time is of the essence of this Note.

All notices under this Note shall be in writing and shall be deemed to have been given three (3) business days after deposit in the mail, designated as certified mail, return receipt requested, postage-prepaid, or one (1) business day after being entrusted to a reputable commercial overnight delivery service, addressed to Maker as set forth opposite its signature to this Note. Maker may change the address to which notices shall be directed by giving three (3) business days written notice of such change to Holder.

This Note shall be governed by and construed in accordance with the laws of the State of Florida without regard to conflict of laws principles. In the event Holder determines it necessary to institute suit to collect on this Note, the action may be maintained in Broward County, Florida, and Maker hereby consents, and waives any and all defenses it may have, to the institution and maintenance of action in that jurisdiction.

This Note may not be changed or waived orally, but only by an agreement in writing and signed by the party against whom enforcement of any change or waiver is sought. This Note shall be binding upon Maker and its successors and assigns and shall inure to the benefit of Holder and its successors and assigns.

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IN WITNESS WHEREOF, the undersigned has executed this Note as of the day and year first above written.

		
	 
	Paymeon, Inc. 

	 

	 

	 
	 

	 
	 

2Exhibit 10.1

 

The Maximum Loan (Credit line) Contract

 

Borrower: Global Technology Inc. (hereinafter
referred to as Party A)

Lender: China
Construction Bank Co., Ltd., Ningbo Yinzhou Branch (hereinafter referred to as Party B)

 

In line with the principle
of mutual benefit and common development, both Party A and B have reached an agreement through friendly consultation to conclude
the following contract, in accordance with relevant laws, regulations and provisions.

 

Article 1 The Maximum Loan (Credit Line)
Amount

Party B is willing
to provide Party A with a credit line in RMB at the amount of 129,000,000.

The loan (credit)
transactions referred in this maximum loan (credit) contract include loans in RMB, acceptance of commercial bills, discounting
and assurance transactions provided by Party B to Party A.

At any point within
the valid period of the agreed maximum loan (credit), as long as the credit balance of the loan (credit) transaction occupied
or not repaid by Party A does not exceed the maximum loan (credit) limit, under the premise that Party A meets the relevant requirements
of Party B, Party A can continuously apply for loan (credit) as needed, but the sum of the credit balance of the loan (credit)
applied by Party A and the balance of the loan (credit) occupied or not repaid by Party A shall not exceed the credit line of
credit agreed in this contract.

Credit balance includes
the principal of the loan (credit) transaction, interest (including compound interest and penalty interest), service charge, liquidated
damages, compensation and any expense incurred by Party B for the realization of creditors’ rights (including but not limited
to litigation fees, arbitration fees, property preservation fees, travel expenses, execution fees, evaluation fees and auction
fees)

The loan (credit
line) transaction involving foreign currency shall be converted into the credit amount of RMB, according to the reference rate
on the date the fact occurs.

 

Article 2 Valid Period of the Maximum
Loan (Credit)

The valid period
of the maximum loan (credit line) shall be from September 21st, 2018 to September 17th, 2023.
As for any single loan (credit line) transaction incurred in the valid period of the maximum loan (credit line), its deadline
for performance is not subject to the expiration of the valid period of the maximum loan (credit line).

On the expiration
date of the maximum loan (credit line), unused loan (credit) amount will become void automatically.

 

Article 3 Securities

For the loan (credit line) transactions
under this maximum loan (credit line) contract, the second type of security methods is used:

		(1)	Guarantee.

		(2)	Mortgage.

		(3)	Pledge.

		(4)	Standby Letter of Credit.

		(5)	Credit Insurance.

		(6)	Other: N/A.

 

Article 4 Rights and Obligations of Party
A

		1.	Party A has the right to request Party
                                         B to keep confidential the relevant financial information and trade secrets in production
                                         and operation provided by Party A, except as otherwise stipulated by laws, regulations
                                         and rules;

		2.	Party A is obliged to provide the financial
                                         accounting information and production and operation condition information according to
                                         the requirements of Party B, and guarantee the authenticity, completeness and validity
                                         thereof.

		3.	Party A shall actively cooperate with
                                         and consciously accept Party B’s inspection and supervision towards its production
                                         and operation, financial activities and the loan (credit line) transaction under the
                                         maximum loan (credit line) contract.

 

 

 

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Article 5 Rights and Obligations of Party
B

		1.	Party B has the right to know the production
                                         and operation, financial activities of Party A, and has the right to request Party A
                                         to provide financial accounting information and production and operation condition information;

		2.	When Party B believes that the production
                                         and operation condition of Party A is declining, Party B has the right to adjust or even
                                         cancel the maximum amount of loan (credit line) that Party A has not used;

		3.	Party B shall keep confidential the
                                         relevant financial information and trade secrets in production and operation provided
                                         by Party A, except as otherwise stipulated by laws, regulations and rules.

 

Article 6 Credit Line Granting 

		1.	Loan (Credit line) Application

When Party A wants
to use loan (credit line) amount, Party A has to submit an application to Party B in advance; after receiving the application
from Party A, Party B decides whether to grant the loan (credit line) to Party A, according to the state laws and regulations
and relevant credit management provisions of Party A.

		2.	Prerequisites for Loan (Credit line)
                                         Granting

Except for Party B’s waiver in whole
or in part, Party B is obliged to grant loans (credit line) to Party A only if the following prerequisites are met:

		(1)	Party A has completed the approval,
                                         registration, delivery and other legal formalities related to the loan (credit line)
                                         under this contract in accordance with relevant laws and regulations;

		(2)	The securities contract meeting Party
                                         B’s requirements has entered into force and keeps in effect;

		(3)	Before every single transaction occurs,
                                         Party A shall file an application and get the approval from Party B. Then the two parties
                                         shall separately sign a master contract for single transaction (including but not limited
                                         to contract of loans in RMB, bank acceptance agreement, and agreement on guarantee letter).
                                         The rights and obligations of both parties shall also be subject to the master contract
                                         for single transaction. In case of any contradiction between the master contract for
                                         single transaction and the maximum loan (credit line) contract, the master contract shall
                                         prevail.

 

Article 7 Settlement of Disputes over
the Contract

Any dispute arising
from the performance of this contract shall firstly be settled through negotiation between Party A and Party B first; if the negotiations
fails, the dispute shall be settle by filing a suit to the court where Party B is located.

 

Article 8 Miscellaneous

This contract comes into force from the
day on which it’s signed by both Party A and Party B.

 

	Party A (Company seal):

                           Legal Representative (Person in Charge) or Authorized Agent

                           (Signature): Shu-Hua Yeh

                           September 21st, 2018  
	 	Party B (Company seal):

                           Person in Charge or Authorized Agent

                           (Signature): Jianhan Chen  

                           September 21st, 2018  

	 	 	 

 

 

 

 

 

 

 

 

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