Document:

wtg_ex1011.htm

EXHIBIT 10.11
  
 
   
 WeTrade Group Inc
  
 Service Contract
  
 This employment contract is made between WeTrade Group Inc. (a company incorporated in Wyoming, United States of America, hereafter the “Company”) at the address of 1 Gaobei South Coast, Yi An Men 111 Block 37, Chao Yang District, Beijing City, PRC 100020. and Biming, Guo (Identity Card No.362422197310116259) (the “Director”) at the address of No 56 JianMeiLi Room 309, Haicang District, Xiamen City, Fujian Province, China. The Employer and the Employee understand and agree to observe the terms of employment set out in this employment contract. Both parties understand that this employment contract is governed by the laws of Wyoming (collectively, the “Legislation”).
  
 	 1. 
	 This services contract shall be for 24 months commencing on April 19, 2021 (day/month/year) (the “Contractual Period”).

	  
	  

	 2. 
	 The Director shall be employed by the Company as Independent Non-Executive Director and Chair of Audit committee to work under this employment contract, and date of this employment contract shall be April 19, 2021 (day/month/year)).

	  
	  

	 3. 
	 The total monthly director remuneration shall be USD$2,000 will be effective from April 19, 2021. All of these are payable in the equivalent amount of either in Hong Kong Dollars or Chinese Renminbi. Any variances are mainly due to fluctuation of currency exchange.

	  
	  

	 4. 
	 The Company shall comply with the provisions of the Director’ Compensation Ordinance. The Director shall be entitled to the rights, benefits and protection provided under the Director’ Compensation Ordinance.

	  
	  

	 5. 
	 The Director shall and takes the full responsibility for proactively declaring and paying personal income tax according to the requirements of the relevant tax authorities in Hong Kong or Mainland China.

  
 	 
	
	

	 

  
 	 6. 
	 Either party may terminate this employment contract under the following circumstances:

   	  
	 (a) 
	Resignation of Director.
	  
	  
	  

	  
	 (b) 
	Expiration of Director services contract.

   
 	 7. 
	 The Company shall provide a copy of this Director service contract signed by both parties to the Director for his/her retention.

	  
	  

	 8. 
	 Any variation, amendment, cancellation or addition to any terms of this service contract (including the Schedule) must not extinguish or reduce any right, benefit or protection conferred upon the Director by this service contract, and must be duly signed by both parties, otherwise it shall be void. The Company shall provide a copy of the amendments duly signed by both parties to the Director for retention.

	  
	  

	 9. 
	 This contract is governed by and shall be interpreted in accordance with Wyoming law and the Company and the Director hereby submit to the non-exclusive jurisdiction of the Wyoming courts in connection with any matters arising hereunder.

   
 IN WITNESS THEREOF, the Parties have hereby duly executed this Agreement on April 19, 2021.
   
 	 Signature of Director
	  
	 Signature of Company’s representative

	  
	  
	  
	  
	  

	 /s/ Biming Guo
	  
	 /s/ Pijun Liu

	  
	  
	  
	  
	  

	 Name:
	 Biming, Guo 
	  
	 Name: 
	 Pijun, Liu 

	  
	  
	  
	  
	  

	 ID No.:
	 362422197310116259 
	  
	 Post: 
	 CEO and Executive Director 

	  
	  
	  
	  
	  

	  
	  
	  
	  
	  

	 Date:
	 April 19, 2021 
	  
	 Date: 
	 April 19, 2021 

  
 	 
	 - 2 -EX-10.1

 Exhibit 10.1 

AMENDMENT NUMBER TWENTY TWO TO 

LOAN AND SECURITY AGREEMENT 

THIS AMENDMENT NUMBER TWENTY TWO TO LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of December 31, 2021 (the
“Amendment Twenty Two Effective Date”) is entered into between PMC FINANCIAL SERVICES GROUP, LLC, a Delaware limited liability company (“Lender”), and REAL GOOD FOODS, LLC, a Delaware limited liability company, as
successor to THE REAL GOOD FOOD COMPANY LLC, a California limited liability company (“Borrower”), in light of the following: 

RECITALS 
 WHEREAS,
Borrower and Lender have previously entered into that certain Loan and Security Agreement, dated as of June 30, 2016, as amended from time to time (the “Agreement”). 

WHEREAS, Borrower has completed an initial public offering and reorganization that included the following the steps: (i) the creation of
a public holding company named RGF, Inc., a Delaware corporation (“Holdco”), (ii) the conversion of Borrower from a California limited liability company to a Delaware limited liability company, (iii) the transfer of all of the equity
interests in Borrower to Holdco in exchange for equity interests in Holdco, and (iv) the change in Borrower’s name from The Real Good Food Company, LLC, to Real Good Foods, LLC. 

WHEREAS, Borrower has requested that Lender enter into a new Master Lease Agreement to purchase and lease to Borrower the equipment required
to build a new manufacturing facility in Bolingbrook, Illinois (the “Master Lease Agreement”). Borrower has further requested that Lender use proceeds from the Master Lease Agreement to repay all borrowings under the Capex Line used to
purchase equipment for the Bolingbrook, IL facility. 
 WHEREAS, upon repayment in full of outstanding indebtedness under the Capex Line
related to the Bolingbrook, IL facility, Borrower has requested that Lender reduce the Capex Line. 
 WHEREAS, Lender has agreed to
Borrower’s request pursuant to the terms of this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 

1. DEFINITIONS. All terms which are defined in the Agreement shall have the same definition when used herein unless a different definition is assigned
to such term under this Amendment. 
 2. AMENDMENTS. Effective as of the Amendment Twenty Two Effective Date (as that term is defined in
Section 2.1 of this Amendment), the Agreement is amended as follows: 
 2.1 Additional Definitions. Section 8
of the Agreement is amended by adding the definitions of “Amendment Twenty Two” and “Amendment Twenty Two Effective Date” as follows: 

“Amendment Twenty Two” means that certain Amendment Number Twenty Two to Loan and Security Agreement, dated as of
December 30, 2021, between Lender and Borrower. 

  
 1 

 “Amendment Twenty Two Effective Date” shall have the meaning set forth in
the preamble to Amendment Twenty Two. 
 2.2 Reduction of the Capex Line. As of the Amendment Twenty Two Effective Date, all
outstanding indebtedness under the Capex Line used to purchase equipment for the Bolingbrook, IL facility in the amount of $7,257,931.01 shall be converted to a lease line of credit, which allows for financing related to certain equipment lease
agreements and Lender hereby reduces the maximum amount of the Capex Line from $20,000,000 to $4,000,000. 
 3. CONSENT TO CONVERSION. 

3.1 Lender hereby consents to: (i) the creation of Holdco, (ii) the conversion of Borrower from a California limited liability
company to a Delaware limited liability company, (iii) the transfer by all of the members of Borrower of all of their equity interests in Borrower to Holdco in exchange for the issuance to such members of equity interests in Holdco, and
(iv) the change in Borrower’s name from The Real Good Food Company, LLC, to Real Good Foods, LLC. 
 3.2 Borrower acknowledges
that the Obligations are due and owing to Lender pursuant to the terms and conditions of the Loan Documents, without any defense, offset or counterclaim of any kind or nature whatsoever as of the date hereof. Borrower authorizes Lender to file any
financing statements in Delaware, and Borrower agrees to execute and deliver to Lender any documents, assignments or notices which Lender requires in order to perfect and maintain perfected Lender’s security in all of the present and future
assets of Borrower securing the Obligations. 
 4. CONDITION PRECEDENT. This Amendment shall be effective only upon satisfaction in full of the
following conditions precedent: 
  

	 	A.	 Lender shall have received a fully executed copy of this Amendment Twenty Two. 

5. REPRESENTATIONS AND WARRANTIES. Borrower hereby affirms to Lender that all of Borrower’s representations and warranties set forth in the
Agreement are true, complete and accurate in all respects as of the date hereof. 
 6. LIMITED EFFECT. Except for the specific amendment contained in
this Amendment, the Agreement shall remain unchanged and in full force and effect. 
 7. RELEASE BY BORROWER. Borrower, for itself, and for its
agents, servants, officers, directors, shareholders, employees, heirs, executors, administrators, successors and assigns, forever release and discharge Lender and its servants, employees, accountants, attorneys, shareholders, subsidiaries, officers,
directors, heirs, executors, administrators, successors and assigns from any and all claims, demands, liabilities, accounts, obligations, costs, expenses, liens, actions, causes of action, rights to indemnity (legal or equitable), rights to
subrogation, rights to 

  
 2 

 
contribution and remedies of any nature whatsoever, known or unknown, which Borrower had, now has, or has acquired, individually or jointly, at any time prior to the Agreement Date, including
specifically, but not exclusively, and without limiting the generality of the foregoing, any and all of the claims, damages, demands and causes of action, known or unknown, suspected or unsuspected by Borrower which: 

7.1 Arise out of the Loan Documents; 

7.2 Arise by reason of any matter or thing alleged or referred to in, directly or indirectly, or in any way connected with, the Loan
Documents; or 
 7.3 Arise out of or in any way are connected with any loss, damage, or injury, whatsoever, known or unknown, suspected or
unsuspected, resulting from any act or omission by or on the part of the Lender or any party acting on behalf of Lender. 
 8. WAIVER OF CALIFORNIA CIVIL
CODE SECTION 1542. Borrower acknowledges that there is a risk that subsequent to the execution of this Agreement it may incur or suffer losses, damages or injuries which are in some way caused by the transactions referred to in the Loan
Documents or this Agreement, but which are unknown and unanticipated at the time this Agreement is executed. Borrower does hereby assume the above mentioned risks and agree that this Agreement shall apply to all unknown or unanticipated results of
the transactions and occurrences described herein, as well as those known and anticipated, and upon advice of counsel, Borrower does hereby knowingly waive any and all rights and protections under California Civil Code Section 1542 which
section has been duly explained and reads as follows: 
 “A general release does not extend to claims that the creditor or releasing
party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.” 

9. LEGAL ADVICE OBTAINED. The advice of legal counsel has been obtained by each party prior to signing this Agreement and each party executes this
Agreement voluntarily, with full knowledge of its significance, and with the express intention of effecting the legal consequences provided by Section 1541 of the California Civil Code, namely, the extinguishment of obligations except for the
executory provisions of this Agreement. 
 10. COUNTERPARTS; EFFECTIVENESS. This Amendment may be executed in any number of counterparts and by
different parties on separate counterparts, each of which when so executed and delivered shall be deemed to be an original. All such counterparts, taken together, shall constitute but one and the same Amendment. This Amendment shall become effective
upon the execution of this Amendment by each of the parties hereto. 

  
 3 

 IN WITNESS WHEREOF, Lender and Borrower have executed this Amendment. 

 

			
	THE REAL GOOD FOOD COMPANY LLC
		
	 By
	 	 /s/ Bryan Freeman

	 Name:
	 	 Bryan Freeman

	 Title:
	 	 Executive Chairman

  

			
	 PMC FINANCIAL SERVICES GROUP, LLC

		
	 By
	 	 /s/ Walter E. Buttkus, III

	 Name:
	 	 Walter E. Buttkus, III

	 Title:
	 	 President

 Signature Page to Amendment Number Twenty Two to Loan and Security Agreement

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