Document:

Exhibit

Exhibit 10.6

SECOND AMENDMENT TO 
AMENDED AND RESTATED CREDIT AGREEMENT 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of November 14, 2017, is entered into by and among HOOPER HOLMES, INC., a New York Corporation (“Borrower”), each of the undersigned financial institutions (individually each a “Lender” and collectively “Lenders”) and SWK FUNDING LLC, a Delaware limited liability company, in its capacity as administrative agent for the other Lenders (in such capacity, “Agent”).
RECITALS
WHEREAS, Borrower, Agent and Lenders entered into that certain Amended and Restated Credit Agreement, dated as of May 11, 2017, which amended and restated that certain Credit Agreement, dated as of April 17, 2015, by and among the Borrower, Agent and Lenders (as amended by that certain First Amendment to Amended and Restated Credit Agreement, dated as of August 8, 2017, and as the same may be further amended, modified or restated from time to time, being hereinafter referred to as the “Credit Agreement”; capitalized terms used in this Amendment are defined in the Credit Agreement unless otherwise stated); and 
WHEREAS, Borrower, Agent and Lenders desire and are willing, to amend the Credit Agreement as set forth below. 
AGREEMENT
NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows:
ARTICLE I
Limited Waiver

1.1    Borrower has failed to comply with Section 7.13.2 of the Credit Agreement in that Borrower permitted the Aggregate Revenue for the six (6) consecutive month period ending on the last Business Day of September 2017 to be less than $26,000,000, which failure constitutes an Event of Default under Section 8.1.4 of the Credit Agreement (the “Specified Default”).  Agent and Lenders hereby waive the Specified Default effective as of the Second Amendment Effective Date.  
1.2    Except as specifically set forth above  in relation to the Specified Default, nothing contained in this Amendment or any other communication between Agent, any Lender, Borrower or any other Loan Party shall be a waiver of any past, present or future violation, Default or Event of Default of Borrower under the Credit Agreement or any Loan Document.  Agent and each Lender hereby expressly reserves any rights, privileges and remedies under the Credit Agreement and each 

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Loan Document that Lender may have with respect to any violation, Default or Event of Default, and any failure by Agent or any Lender to exercise any right, privilege or remedy as a result of the violations set forth above shall not directly or indirectly in any way whatsoever either (i) impair, prejudice or otherwise adversely affect the rights of Agent or any Lender, except as set forth herein, at any time to exercise any right, privilege or remedy in connection with the Credit Agreement or any Loan Document, (ii) amend or alter any provision of the Credit Agreement or any Loan Document or any other contract or instrument or (iii) constitute any course of dealing or other basis for altering any obligation of Borrower or any rights, privilege or remedy of Agent or any Lender under the Credit Agreement or any Loan Document or any other contract or instrument.  Nothing in this Amendment shall be construed to be a consent by Agent or any Lender to any prior, existing or future violations of the Credit Agreement or any Loan Document.
1.3    Borrower is hereby notified that irrespective of (i) any waivers or consents previously granted by Agent or any Lender regarding the Credit Agreement and the Loan Documents (including, for the avoidance of doubt, the waiver specifically set forth above in relation to the Specified Default), (ii) any previous failures or delays of Agent or any Lender in exercising any right, power or privilege under the Credit Agreement or the Loan Documents or (iii) any previous failures or delays of Agent or any Lender in the monitoring or in the requiring of compliance by Borrower with the duties, obligations and agreements of Borrower in the Credit Agreement and the Loan Documents, Borrower will be expected to comply strictly with its duties, obligations and agreements under the Credit Agreement and the Loan Documents.

ARTICLE II
Amendments to Credit Agreement
Amendment to Section 2.7(b).  Effective as of the Second Amendment Effective Date, Section 2.7(b) of the Credit Agreement is amended and restated in its entirety to read as follows:
“(b)  Exit Fee and Second Amendment Fee.
(i)     Upon the earlier to occur of (i) the Maturity Date, or (ii) full repayment of the Loan and all other Obligations, whether as a result of the application of Net Cash Proceeds from any Disposition, the contractual acceleration of the Loan hereunder, an acceleration of the Loan by Agent in accordance with this Agreement or otherwise, Borrower shall pay an exit fee to Agent, for the benefit of Lenders, in an amount equal to seven percent (7.0%) multiplied by the aggregate principal amount of the Closing Date Term Loan advanced hereunder and the amount of the Revolving Loan Commitment.
(ii)    In addition to the foregoing Exit Fee payable in connection with the Closing Date Term Loan and Revolving Loan Comittment as set forth above, upon the full repayment of the August 2017 Term Loan, whether as a result of the contractual acceleration and acceleration by Agent in accordance with this Agreement or otherwise (the “August 2017 Term Loan Repayment Date”), Borrower shall pay an additional exit fee (“2017 Exit Fee”) to Agent, for the benefit of Lenders, 

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in an amount equal to (x) if such repayment occurs on or prior to November 30, 2017, seven percent (7.0%) multiplied by the aggregate principal amount of the August 2017 Term Loan, or (y) if such repayment occurs after November 30, 2017, fourteen percent (14.0%) multiplied by the aggregate principal amount of the August 2017 Term Loan; provided, however, that as it relates solely to the 2017 Exit Fee, such fee may, at the election of Borrower, be capitalized into the Loan on the date of any such repayment, and the outstanding principal balance of the Loan shall be increased by an amount equal to such 2017 Exit Fee that would otherwise be due on such repayment date with no further action by Agent, Lenders or Borrower
(ii)    In addition to the amounts payable pursuant to subsections (i) and (ii) set forth above, and in consideration for the waiver and other financial accomodations made by Agent pursuant to that certain Second Amendment to Amended and Restated Credit Agreement dated as of November 14, 2017, Borrower shall pay to Agent, on the August 2017 Term Loan Repayment Date, an amendment fee in the amount of $50,000, which fee shall be deemed fully earned and non-refundable as of November 14, 2017.”

ARTICLE III
Conditions Precedent 
Conditions Precedent.  The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent in a manner satisfactory to Agent, unless specifically waived in writing by Agent in its sole discretion (the date on which all such conditions are satisfied or waived referred to herein as the “Second Amendment Effective Date”):
A.    Agent shall have received: this Amendment and the Reaffirmation of the Amended and Restated Guarantee and Collateral Agreement, duly executed by all parties thereto.
B.    Agent shall have received payment, for the benefit of Lenders, of all unpaid interest that has accrued on the August 2017 Term Loan through October 15, 2017.
C.    The representations and warranties contained herein and in the Credit Agreement and the other Loan Documents, as each is amended hereby, shall be true and correct as of the date hereof, as if made on the date hereof, except for such representations and warranties as are by their express terms limited to a specific date.
D.    All corporate proceedings taken in connection with the transactions contemplated by this Amendment and all documents, instruments and other legal matters incident thereto shall be satisfactory to Agent.  

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E.    Agent shall have received payment of all costs and expenses due and owing by Borrower on or prior to the date hereof (including, without limitation, all legal fees of Agent’s counsel).  
ARTICLE IV
Ratifications, Representations and Warranties
4.1    Ratifications.  The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions set forth in the Credit Agreement and the other Loan Documents, and, except as expressly modified and superseded by this Amendment, the terms and provisions of the Credit Agreement and the other Loan Documents are ratified and confirmed and shall continue in full force and effect.  Borrower, Lenders and Agent agree that the Credit Agreement and the other Loan Documents, as amended hereby, shall continue to be legal, valid, binding and enforceable in accordance with their respective terms.  Borrower agrees that this Amendment is not intended to and shall not cause a novation with respect to any or all of the Obligations.
4.2    Representations and Warranties.  Borrower hereby represents and warrants to Agent and Lenders that (a) the execution, delivery and performance of this Amendment, the amended and restated warrant referred to in Section 3.1 above and any and all other Loan Documents executed and/or delivered in connection herewith have been authorized by all requisite action (as applicable) on the part of Borrower and will not violate the organizational documents of Borrower; (b) Borrower’s directors have authorized the execution, delivery and performance of this Amendment, the warrant referred to in Section 3.1 above and any and all other Loan Documents executed and/or delivered in connection herewith; (c) the representations and warranties contained in the Credit Agreement, as amended hereby, and any other Loan Document are true and correct on and as of the date hereof and on and as of the date of execution hereof as though made on and as of each such date (except to the extent such representations and warranties expressly relate to an earlier date); (d) [Reserved]; (e) Except as it relates to the Specified Default, Borrower is in full compliance in all material respects with all covenants and agreements contained in the Credit Agreement and the other Loan Documents, as amended hereby; and (f) except as disclosed to Agent, Borrower has not amended its organizational documents since the date of the Credit Agreement. 
ARTICLE V

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Miscellaneous Provisions
5.1    Survival of Representations and Warranties.  All representations and warranties made in the Credit Agreement or any other Loan Document, including, without limitation, any document furnished in connection with this Amendment, shall survive the execution and delivery of this Amendment and the other Loan Documents, and no investigation by Agent or any Lender or any closing shall affect the representations and warranties or the right of Agent and each Lender to rely upon them.
5.2    Reference to Credit Agreement.  Each of the Credit Agreement and the other Loan Documents, and any and all other Loan Documents, documents or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement, as amended hereby, are hereby amended so that any reference in the Credit Agreement and such other Loan Documents to the Credit Agreement shall mean a reference to the Credit Agreement, as amended hereby.
5.3    Expenses of Agent.  As provided in the Credit Agreement, Borrower agrees to pay on demand all costs and expenses incurred by Agent, or its Affiliates, in connection with the preparation, negotiation, and execution of this Amendment and the other Loan Documents executed pursuant hereto and any and all amendments, modifications, and supplements thereto, including, without limitation, the reasonable costs and fees of legal counsel, and all costs and expenses incurred by Agent and each Lender in connection with the enforcement or preservation of any rights under the Credit Agreement, as amended hereby, or any other Loan Documents, including, without, limitation, the reasonable costs and fees of legal counsel.
5.4    Severability.  Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable.
5.5    Successors and Assigns.  This Amendment is binding upon and shall inure to the benefit of Agent and each Lender and Borrower and their respective successors and assigns, except that Borrower may not assign or transfer any of its rights or obligations hereunder without the prior written consent of Agent.
5.6    Counterparts.  This Amendment may be executed in one or more counterparts, each of which when so executed shall be deemed to be an original, but all of which when taken together shall constitute one and the same instrument.  This Amendment may be executed by facsimile or electronic (.pdf) transmission, which facsimile or electronic (.pdf) signatures shall be considered original executed counterparts for purposes of this Section 5.6, and each party to this Amendment agrees that it will be bound by its own facsimile or electronic (.pdf) signature and that it accepts the facsimile or electronic (.pdf) signature of each other party to this Amendment.
5.7    Effect of Waiver.  No consent or waiver, express or implied, by Agent to or for any breach of or deviation from any covenant or condition by Borrower shall be deemed a consent to or waiver of any other breach of the same or any other covenant, condition or duty.

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5.8    Headings.  The headings, captions, and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment.
5.9    Applicable Law.  THE TERMS AND PROVISIONS OF SECTIONS 10.17 (GOVERNING LAW) AND 10.18 (FORUM SELECTION; CONSENT TO JURISDICTION) OF THE CREDIT AGREEMENT ARE HEREBY INCORPORATED HEREIN BY REFERENCE, AND SHALL APPLY TO THIS AMENDMENT MUTATIS MUTANDIS AS IF FULLY SET FORTH HEREIN. 
5.10    Final Agreement.  THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS, EACH AS AMENDED HEREBY, REPRESENT THE ENTIRE EXPRESSION OF THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF ON THE DATE THIS AMENDMENT IS EXECUTED.  THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS AMENDED HEREBY, MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.  NO MODIFICATION, RESCISSION, WAIVER, RELEASE OR AMENDMENT OF ANY PROVISION OF THIS AMENDMENT SHALL BE MADE, EXCEPT BY A WRITTEN AGREEMENT SIGNED BY BORROWER AND AGENT.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, this Amendment has been executed and is effective as of the date first above‐written.
BORROWER:

HOOPER HOLMES, INC., 
a New York corporation

By:    /s/ Henry E. Dubois    
Name:  Henry E. Dubois
Title:    Chief Executive Officer 

AGENT AND LENDER:

SWK FUNDING LLC, 
as Agent and a Lender 
 
 
By:     SWK Holdings Corporation, 
its sole Manager

 

 
By:      /s/ Winston Black    
Name:         Winston Black
Title:         Chief Executive Officer

REAFFIRMATION OF 
AMENDED AND RESTATED GUARANTEE AND COLLATERAL AGREEMENT

The undersigned (the “Guarantor”) each hereby acknowledges and agrees to the amendments of the Credit Agreement contained in this Second Amendment to Amended and Restated Credit Agreement, dated as of November 14, 2017 (the “Amendment”), and acknowledges and reaffirms its obligations owing to Agent and the Lenders under that certain Amended and Restated Guarantee and Collateral Agreement, dated as of May 11, 2017 (the “Guarantee Agreement”) and any of the other Loan Documents to which it is a party, and agrees that such Guarantee and Loan Documents are and shall remain in full force and effect.  Although Guarantor has been informed of the matters set forth herein and has acknowledged and agreed to same, Guarantor understands that Agent and Lenders have no obligation to inform Guarantor of such matters in the future or to seek Guarantor’s acknowledgement or agreement to future amendments or waivers, and nothing herein shall create such a duty.

[Signatures Follow]

HOOPER HOLMES, INC.,
a New York corporation

By:    /s/ Henry E. Dubois    
Name:    Henry E. Dubois
Title:    Chief Executive Officer 

PROVANT HEALTH SOLUTIONS, LLC,
a Rhode Island limited liability company

By:    /s/ Henry E. Dubois    
Name:    Henry E. Dubois
Title:    Chief Executive Officer 

HOOPER WELLNESS, LLC,
a Kansas limited liability company

By:    /s/ Henry E. Dubois    
Name:    Henry E. Dubois
Title:    Chief Executive Officer 

ACCOUNTABLE HEALTH SOLUTIONS, LLC,
a Kansas limited liability company

By:    /s/ Henry E. Dubois    
Name:    Henry E. Dubois
Title:    Chief Executive Officer 

HOOPER INFORMATION SERVICES, INC.,
a New Jersey corporation

By:    /s/ Henry E. Dubois    
Name:    Henry E. Dubois
Title:    Chief Executive Officer 

HOOPER DISTRIBUTION SERVICES, LLC,
a New Jersey limited liability company

By:  Hooper Holmes, Inc.,
its Manager 
 
 
By:    /s/ Henry E. Dubois    
Name:    Henry E. Dubois
Title:    Chief Executive Officer 

HOOPER KIT SERVICES, LLC,
a Kansas limited liability company

By:  Hooper Holmes, Inc.,
its sole Member 
 
 
By:    /s/ Henry E. Dubois    
Name:    Henry E. Dubois
Title:    Chief Executive OfficerEquity
Transfer Agreement

 

The
Agreement is made by and between the following parties at Chaoyang District, Beijing, China on November 14, 2017:

 

Transferee
(hereinafter referred to as “Party A”): Sheng Ying Xin (Beijing) Management Consulting Co., Ltd.

Legal
Representative: Jianxin Lin

Address:
Units 13-14, 1501, Unit 1, Building 1, No.1 East Third Ring Middle Road, Chaoyang District, Beijing

 

Transferor
(hereinafter referred to as “Party B”): Beijing Tianhuang Tongda Technology Co., Ltd.

Legal
Representative: Zixuan Xu

Address:
No. 302, Building 19, No. 68 South Xueyuan Road, Haidian District, Beijing

 

Whereas:

 

1. Beijing Anytrust Science & Technology Co., Ltd (hereinafter referred to as “Target Company”) is a limited
company, validly incorporated on June 9, 2014 and continuing to be in existence in accordance with the Company Law of the People’s
Republic of China and other relevant laws and regulations. Its registered capital is RMB 7.5 million; its unified social credit
code is 91110108397467740E; its legal representative is Zhiqiang Yang, and its registered address is Room 1501, Floor 15, Kunxun
Building, No.9 Zhichun Road, Haidian District, Beijing.

 

2.
Party A is a limited liability company, validly incorporated on September 16, 2014 and continuing to be in existence in accordance
with the Company Law of the People’s Republic of China and other relevant laws and regulations. Its registered capital
is RMB 50 million and its unified social credit code is 911101053182983370.

 

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3.
Party B is a limited liability company and is validly incorporated on January 4, 2010 and continuing to be existence in
accordance with the Company Law of the People’s Republic of China and other relevant laws and regulations. Its registered
capital is RMB 500,000 and its unified social credit code is 91110108699611971H. Party B is the only shareholder of the Target
Company, holding 100% of the equity interest and all relevant rights and interests of the Target Company.

 

4.
Party B intends to transfer 100% of the equity interest and all relevant rights and interests of the Target Company held by it,
to Party A, and Party A agrees to the transfer.

 

In
view of the above, this agreement is made by and between Party A and Party B, on an equal and mutually beneficial basis, in accordance
with the Contract Law of the People’s Republic of China, the Company Law of the People’s Republic of China and other
relevant laws and regulations to transfer 100% of the equity interest and all relevant rights and interests in the Target Company
for both parties to follow.

 

Article
1 Equity Transfer Conditions

 

1. Party A shall be
the legal transferee, conforming to the requirements of relevant supervision departments of the equity interest and all relevant
rights and interests in Target Company.

 

2.
Party B shall guarantee that the financial affairs and accounts are authentic, free and clear from legal risks that run against
the fulfillment of the agreement.

 

3.
Party B shall guarantee that the incorporation and existence of the Target Company is valid and free from conditions that affect
its valid existence, undisclosed debts, administrative penalty, and other infringement or violations.

 

4. Party B shall guarantee
that its right of disposition for 100% of the equity interest and all relevant rights and interests of Target Company is free from
any defect.

 

5.
Party B shall fully cooperate with Party A or any organization designated by Party A to conduct financial and legal due diligence
on the Target Company and provide all relevant materials. In the event the results of such due diligence indicate that the Target
Company has debt disputes or other defects, which cannot be resolved in a manner satisfactory to Party A, or other potential risks
that make the ultimate purpose of this agreement impossible, Party A shall have the right to terminate this agreement unilaterally
and Party B shall refund the payments it has received and assume responsibility for breach of this agreement.

 

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Article
2 Equity Transfer

 

1.
Party B agrees to transfer 100% of the equity interest and all relevant rights and interests in the Target Company, held by it
to Party A in accordance with this agreement. Party A agrees to accept 100% of the equity interest and all relevant rights and
interests in the Target Company in accordance with this agreement.

 

2.
After the equity interest and rights and interests in Target Company are transferred to Party A, Party B shall guarantee that
Party A can actually receive100% of the equity interest and corresponding shareholder’s rights and shall cooperate with
Party A to complete the change of registration for the equity interest in the Target Company at the relevant Administration for
Industry and Commerce. Party B shall deliver all relevant materials, documents and ownership of Target Company to Party A. Party
B shall also guarantee that the Target Company will be free from any condition that will make the change of registration for the
equity interest in the Target Company impossible when such change of registration shall be conducted at relevant registration
authority.

 

Article
3 Equity Transfer Price

 

Both
parties agree that the sale price for 100% of the equity interest and all relevant rights in the Target Company is ¥12,000,000
in total (RMB twelve million yuan).

 

Article
4 Payment and Transaction Process

 

1. Within two days
after the execution of this agreement, Party A shall pay RMB 200,000 (RMB Two Hundred Thousand) to Party B as down payment. Party
B shall actively cooperate with Party A or any third party designated by Party A to conduct relevant due diligence on the target
company and provide such relevant materials as requested by Party A or such third party designated by Party A.

 

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2.
After Party A completes the due diligence, Party A and Party B shall prepare all materials required for the shareholder change
registration, which shall conform to the requirements of the relevant departments, as soon as possible and within two days if
the due diligence results are consistent with those stated by Party B (the valid incorporation and existence of the Target Company,
free from conditions that affect its valid existence, undisclosed debts, administrative penalty, other infringement or violations).
Party A shall actively cooperate with Party B to conduct the shareholder change registration at the relevant Administration for
Industry and Commerce. Party B shall pay off all the debts of Target Company, disclosed to Party A, and all other debts of Target
Company before control of the Target Company is effectively transferred as per this agreement and before conducting such registration
change at the relevant Administration for Industry and Commerce.

 

Party
A shall pay RMB 5 million (RMB Five Million) to Party B within two days after the above mentioned registration change has been
effected for the change in equity interest.

 

3.
Party A shall pay the balance to Party B within two days after the equity interest in the target company is transferred to Party
A and Party B delivers the all the relevant certificates, licenses, seals, account books and other documents and materials of
the Target Company to Party A.

 

Article
5 Obligations of Transferor

 

1.
Party B shall actively cooperate with Party A or any third party designated by Party A to conduct due diligence on the Target
Company, including financial and legal due diligence and other due diligence related to this acquisition.

 

2.
Party B shall promptly sign all relevant documents, related to the equity transfer, which need to be signed and provided by Party
B.

 

3.
Party B shall conduct registration change related to this equity transfer in accordance with this agreement.

 

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4. During the fulfillment
of this agreement and after Party A pays the down payment, Party B promises that Party A is the sole and only transferee of the
equity interest in the Target Company. Party B shall not transfer the equity interest in the Target Company to any third party
other than Party A without the written consent of Party A, otherwise Party B shall refund 200% of the down payment Party A has
paid and compensate Party A for all its other losses.

 

5.
Party B shall guarantee that the equity interest of the Target Company is free from any guarantee, mortgage, pledge, seal up or
limitation of rights caused by any third party in any form, or any legal defect that may affect the transaction (including but
not limited to withdrawal of capital, feigned capital contributions, false contributions, ownership disputes, prohibition on or
restriction of transfer).

 

6.
Party B shall not damage the interests of the Target Company during the equity transfer.

 

7.
Party B shall guarantee that it will be responsible for the all liabilities and other legal responsibilities of the Target Company
before the equity interest of the Target Company is actually transferred and shareholder registration change is effected, including
liabilities and other responsibilities imposed on the Target Company by compulsory documents such as judgments, verdicts or resolutions
made by any competent court, arbitration institution or other state.

 

8.
Party B shall guarantee that all the documents and materials signed by Party B, the Target Company or any other party (other than
Party A) at the behest of Party B for accomplishing the transaction specified in this agreement, are authentic and valid.

 

Article
6 Obligations of Transferee

 

1.
Party A shall promptly pay the specified sale price of the equity interest to Party B as per Article 4 of this agreement.

 

2.
Party A shall fully cooperate with Party B to promptly conduct shareholder change registration at the relevant
Administration for Industry and Commerce and other required procedures to accomplish the transaction.

 

3.
Party A shall not damage the interests of the
Target Company during the equity transfer.

 

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Article
7 Representations and Warranties

 

1.
The transferor hereby makes irrevocable representations and warranties:

 

(1)
Party B transfers 100% of the equity interest
and all relevant rights and interests in the Target Company held by it to Party A on a voluntary basis. In addition, Party B shall
strictly fulfill the obligations specified in this agreement.

 

(2)
Any representation, statement, guarantee or commitment, made by Party B to Party A, arising from the transaction specified in
the agreement, and any materials provided by Party B to Party A or any third party designated by Party A, shall be authentic,
legal, valid and free from any imaginary, false or untrue information.

 

(3)
The representative of Party B signing this agreement has been fully and duly authorized to sign this agreement.

 

(4)
This agreement shall be a legal and valid document binding upon both Party A and Party B after it comes into effect.

 

(5)
Party B guarantees that it will be responsible for all the debts of the Target Company before the control in the Target Company
is transferred and shareholder change registration is completed and promises that it will pay off all the Target Company’s
debts before the control is transferred and shareholder change registration is completed, otherwise Party A shall have the right
to deduct such amounts from the sale price for the equity interest to be paid to Party B.

 

2.
The transferee hereby makes irrevocable representations and warranties:

 

(1)
Party A accepts 100% of the equity interest and
all relevant rights and interests in the Target Company on a voluntary basis.

 

(2)
Party A has all the rights to conclude this agreement and fulfill the rights and obligations thereunder.

 

(3)
Party A guarantees that the meaning and expression of accepting 100% of the equity interest and all relevant rights and interests
of the Target Company are authentic, and it has adequate conditions and capacity to fulfill this agreement.

 

(4)
The representative of Party A signing this agreement has been fully and duly authorized to sign this agreement.

 

Article
8 Confidentiality

 

1.
Both parties agree that the articles and any information such as the operation and financial conditions of one party, revealed
by the party to the other party before the agreement is signed and during its period of validity, are confidential. Unless otherwise
specified by both parties, either party receiving such confidential information shall keep such information confidential.

 

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2.
Article 8 is an independent one. Both parties shall keep this agreement and the confidential information confidential regardless
of whether this agreement is signed, amended, canceled or terminated . Neither party shall reveal any part of this agreement or
other confidential information to any third party.

 

Article
9 Responsibility for Breach of Contract

 

1.
In case either party fails to fulfill its obligations under this agreement, it shall assume corresponding responsibility for breach
of agreement as follows:

 

(1)
During the above due diligence and after this agreement is signed by P arty A, in the event Party A finds that the Target Company
has an undisclosed debt issue other than the debts revealed to Party A, the equity interest in the Target Company is defective
or there is a dispute over such equity interest, any condition that makes the equity transfer impossible, or the equity transfer
of the Target Company cannot be approved by the registration authority for the Target Company, Party A shall have the right to
terminate this agreement and Party B shall refund the payments it has received from Party A and pay an amount equal to the down
payment to Party A as liquidated damages.

 

(2)
In the event this agreement is terminated due to force majeure factors such as the change of national policies, Party B shall
refund the payments it has received within three days of the termination of this agreement. Party B shall pay an amount equal
to 0.05% per day of the said amount to be refunded to Party A as liquidated damages accruing from the date of payment through
the date of refund.

 

(3)
In the event Party A fails to pay the specified sale price for the equity interest to Party B in accordance with this agreement,
it shall pay an amount equal to 0.05% of the due amount to Party B as liquidated damages on a daily
basis accruing from the date the amount is due through payment date. Party B shall have the right to terminate the agreement unilaterally
without refunding any payment it has received if the overdue payment exceeds 15 days.

 

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(4)
In the event Party B fails to promptly fulfill any obligation and it still fails to fulfill such obligation after five days of
receipt of Party A’s notice of default, Party B shall pay an amount equal to 0.05% of the total sale price of the equity
interest to Party A as liquidated damages on a daily basis accruing from the expiration of the fifth day of receipt of the said
notice of default through payment or termination of this agreement, whichever is earlier; if this amount is not paid after 15
days, Party A shall have the right to terminate this agreement unilaterally and ask Party B to refund the payments it has received.
In the event of such termination, in addition to the aforementioned liquidated damages, Party B shall pay an amount equal to 30%
of the total sale price for the equity interest to Party A as liquidated damages.

 

(5)
In case it is impossible to conduct the shareholder registration change registration for the equity transfer due to any reason
caused by Party B or the Target Company, Party A shall have the right to terminate the agreement unilaterally, and Party B shall
refund the payments paid by Party A and pay an amount equal to 30% of the total sale price for the equity interest as liquidated
damages to Party A.

 

2.
Any delinquent party violating Article 8 of the agreement shall pay an amount equal to 30% of the total sale price for the equity
interest to the innocent party as liquidated damages.

 

3.
Without prejudice to the above provisions, a delinquent party shall compensate the innocent for the all losses suffered by the
innocent party due to the violation of this agreement by the delinquent party.

 

Article
10 Applicable Law and Dispute Settlement

 

1.
The law of the People’s Republic of China (excluding Hong Kong Special Administrative Region, Macau Special Administrative
Region and Taiwan) is applicable to the establishment, validity, interpretation, performance and dispute settlement arising from
this agreement.

 

2.
Both parties shall solve any dispute arising from this agreement through friendly negotiations at first. If such negotiations
fail, either party may file a lawsuit with the People’s Court with jurisdiction over the place of agreement performance,
namely the place where the Target Company is registered.

 

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Article
11 Agreement Amendment, Modification or Supplement

 

Any
amendment, modification or supplement to the Agreement shall be in written form after it is negotiated and agreed by both parties.
And such amendment, modification or supplement shall come into effect after it is duly and officially signed by both Party A and
Party B. 

 

Article
12 Special Provisions

 

1.
In addition to following relevant laws and regulations, any publicity and notice related to the existence, contents and fulfillment
of this agreement shall be approved and agreed by both parties in written form in advance.

 

2.
The date of handing over the control in the Target Company, namely the date of issuing a new business license for the Target Company
after the equity interest in the Target Company have been transferred to Party A shall serve as the cut-off date for Party B’s
responsibility for the Target Company’s debts (the “Cut-Off Date”). Party B shall continue to be responsible
for the debts and corresponding legal responsibility (including those debts and responsibility of the Target Company after the
cut-off date due to any circumstance incurred before the Cut-Off Date) prior to the Cut-Off Date date (including the Cut-Off Date),
and Party A shall be responsible for the debts and corresponding legal responsibility of the Target Company after the Cut-Off
Date (excluding the Cut-Off Date). In the event Party A is unable to obtain 100% of the equity interest and all relevant
rights and interests of the Target Company for any reason that is not caused by Party A, Party A will not assume any of Target
Company’s debts and legal responsibilities.

 

3.
Party A, Party B and the Target Company shall be responsible for their respective taxes and expenses incurred for fulfilling this
agreement as per relevant national and local regulations.

 

4.
In order to fulfill the agreement, Party A, Party B and the Target company shall promptly sign all relevant documents (e.g. the
relevant equity transfer agreement in format and text required by the Administration for Industry and Commerce that has the jurisdiction
over the Target Company) as per the format required by relevant competent departments. Such documents are used for reference only
and they shall not be the basis for both parties’ legal rights and obligations. Party B shall take full responsibility if
it and the target company ask Party A to fulfill obligations or claim any right based on such documents . The delinquent party
shall compensate for the losses of Party A or the target company hereof.

 

    	 	 9 / 11	 

     

    

 

5.
Both parties shall contact each other as per the contact information and addresses listed on the first page of the agreement.
In case such information has any change, the party who has such change shall promptly inform the other party in written form

 

Article
13 Validity and Text

 

1.
The agreement comes into effect after it is sealed by both parties.

 

2.
The agreement is made in duplicate, one for each party and they shall have the equal legal effects.

 

(The
remaining of the page is left blank intentionally)

 

    	 	 10 / 11	 

     

    

 

(The
page is for signing the Equity Transfer Agreement)

 

Party
A (seal): Sheng Ying
Xin (Beijing) Management Consulting Co., Ltd.

Legal
Representative: Jianxin Lin

 

Signature:

Date:
November 14, 2017

 

Party
B (seal): Beijing Tianhuang
Tongda Technology Co., Ltd.

Legal
Representative: Zixuan Xu

 

Signature:

Date:
November 14, 2017

 

    	 	 11 / 11

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