Document:

EX-10.12

 Exhibit 10.12 

CONFIDENTIAL 
 ECMOHO 

2018 OMNIBUS INCENTIVE PLAN 

ARTICLE 1 
 GENERAL

  

	1.1	 Purpose 

The purpose of the Ecmoho 2018 Omnibus Incentive Plan (the “Plan”) is to promote the success and enhance the value of Ecmoho,
a company formed under the laws of the Cayman Islands (the “Company”), by linking the personal interests of the Directors, Employees and Consultants to those of the Company’s shareholders and by providing such individuals with
an incentive for outstanding performance to generate superior returns to the Company’s shareholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of Directors,
Employees, and Consultants upon whose judgment, interest and special effort the successful conduct of the Company’s operation is largely dependent. 
  

	1.2	 Definitions of Certain Terms and Construction 

Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise.
The singular pronoun shall include the plural where the context so indicates. 
 1.2.1 “Acquisition Awards” has the meaning
set forth in Section 2.1.2. 
 1.2.2 “ADS” means an American Depositary Share corresponding to, and issued in
respect of, an ordinary share of the Company. 
 1.2.3 “Applicable Laws” means the legal requirements relating to the Plan
and the Awards under applicable provisions of the corporate, securities, tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or national market system, of any jurisdiction applicable to Awards
granted to residents therein. 
 1.2.4 “Award” means an award made pursuant to the Plan as described in
Section 2.3 below. 
 1.2.5 “Award Agreement” means any written agreement, contract, or other instrument or
document evidencing an Award, including through electronic medium. 
 1.2.6 “Board” means the Board of Directors of the
Company. 
 1.2.7 “Cause” shall mean (a) with respect to a Participant employed pursuant to a written employment
agreement which agreement includes a definition of “Cause”, “Cause” as defined in that agreement; or (b) with respect to any other Participant, (i) performing an act or failing to perform any act in bad faith and to the
detriment of the Company or any other Service Recipient; (ii) engaging in gross misconduct that causes financial or reputation harm to the Company, (iii) material breach of any agreement with the Company or any other Service Recipient; or
(iii) conviction of, or plea of guilty or no contest to, a felony or any other crime involving dishonesty, breach of trust, or physical harm to any person that causes financial or reputational harm to the Company. 

 1.2.8 “Change in Control” means, except in connection with any initial
public offering of Shares, the occurrence of any of the following events after the completion of the initial public offering of the Company: 

(a) during any period of not more than 36 months, individuals who constitute the Board as of the beginning of the period (the
“Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the beginning of such period, whose election or nomination for election
was approved by a vote of at least two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a
nominee for director, without written objection to such nomination) will be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director as a result of an actual or publicly threatened
election contest with respect to directors or as a result of any other actual or publicly threatened solicitation of proxies by or on behalf of any person other than the Board will be deemed to be an Incumbent Director; 

(b) any “person” (as such term is defined in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2)
of the Exchange Act), is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the
combined voting power of the Company’s then-outstanding securities eligible to vote for the election of the Board (“Company Voting Securities”); provided, however, that the event described in this paragraph
(b) will not be deemed to be a Change in Control by virtue of the ownership, or acquisition, of Company Voting Securities: (A) by the Company, (B) by any employee benefit plan (or related trust) sponsored or maintained by the Company,
(C) by any underwriter temporarily holding securities pursuant to an offering of such securities or (D) pursuant to a Non-Qualifying Transaction (as defined in paragraph (c) of this definition);

 (c) the consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company
that requires the approval of the Company’s shareholders, whether for such transaction or the issuance of securities in the transaction (a “Business Combination”), unless immediately following such Business Combination:
(A) more than 50% of the total voting power of (x) the entity resulting from such Business Combination (the “Surviving Entity”), or (y) if applicable, the ultimate parent corporation that directly or indirectly has
beneficial ownership of at least 95% of the voting power, is represented by Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company Voting
Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately
prior to the Business Combination, (B) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Entity or the parent), is or becomes the beneficial owner, directly or indirectly, of 50% or more
of the total voting power of the outstanding voting securities eligible to elect directors of the parent (or, if there is no parent, the Surviving Entity) and (C) at least a majority of the members of the board of directors of the parent (or,
if there is no parent, the Surviving Entity) following the consummation of the Business Combination were Incumbent Directors at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination
(any Business Combination which satisfies all of the criteria specified in (A), (B) and (C) of this paragraph (c) will be deemed to be a “Non-Qualifying Transaction”); or 

  
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 (d) the consummation of a sale of all or substantially all of the Company’s assets
(other than to an affiliate of the Company); or 
 (e) the approval by the Company’s shareholders of a plan of complete liquidation or
dissolution of the Company. 
 Notwithstanding the foregoing, a Change in Control will not be deemed to occur solely because any person
acquires beneficial ownership of more than 30% of the Company Voting Securities as a result of the acquisition of Company Voting Securities by the Company which reduces the number of Company Voting Securities outstanding; provided that if
after such acquisition by the Company such person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such person, a Change in Control will
then occur. 
 1.2.9 “Code” means the Internal Revenue Code of 1986 of the United States, as amended from time to time, or
any successor thereto, and the applicable rulings and regulations thereunder. 
 1.2.10 “Committee” has the meaning
described in Section 7.1. 
 1.2.11 “Consultant” means any consultant or adviser if: (a) the consultant or
adviser renders bona fide services to a Service Recipient; (b) the services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly
promote or maintain a market for the Company’s securities; and (c) the consultant or adviser is a natural person who has contracted directly with the Service Recipient to render such services. 

1.2.12 “Date of Grant” means, with respect to an Award, the date that the Award is granted and its exercise price is set (if
applicable), consistent with Applicable Laws and applicable financial accounting rules. 
 1.2.13 “Director” means a member
of the Board. 
 1.2.14 “Disability”, unless otherwise defined in an Award Agreement, means that the Participant qualifies
to receive long-term disability payments under the Service Recipient’s long-term disability insurance program, as it may be amended from time to time, to which the Participant provides services regardless of whether the Participant is covered
by such policy. If the Service Recipient to which the Participant provides service does not have a long-term disability plan in place, “Disability” means that a Participant is unable to carry out the responsibilities and functions of the
position held by the Participant by reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Participant will not be considered to have incurred a Disability unless he or
she furnishes proof of such impairment sufficient to satisfy the Committee in its discretion. 

  
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 1.2.15 “Dividend Equivalent Right” means a right granted to a Participant
pursuant to Section 4.6 of the Plan to a payment in cash or Shares equal to the dividends or other distribution that would have been received on Shares had the Shares been issued and outstanding on the dividend record date. 

1.2.16 “Effective Date” shall have the meaning set forth in Section 8.1. 

1.2.17 “Employee” means any person employed by the Company or any Subsidiary of the Company. 

1.2.18 “Employment” means a Participant’s performance of services for the Company, as an Employee, as determined by the
Committee. The terms “employ” and “employed” will have correlative meanings. 
 1.2.19 “Exchange Act”
means the Securities Exchange Act of 1934 of the United States, as amended from time to time, or any successor thereto, and the applicable rules and regulations thereunder. 

1.2.20 “Fair Market Value” means, as of any date, the value of Shares determined as follows: 

(a) If the Shares are listed on one or more established stock exchanges or national market systems, including without limitation, the New York
Stock Exchange or the Nasdaq Stock Market, the Fair Market Value shall be the closing sales price for such shares (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the Shares are listed (as
determined by the Committee) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported), as reported in The Wall
Street Journal or such other source as the Committee deems reliable; 
 (b) If the Shares are regularly quoted on an automated quotation
system (including the OTC Bulletin Board) or by a recognized securities dealer, the Fair Market Value shall be the closing sales price for such shares as quoted on such system or by such securities dealer on the date of determination, but if selling
prices are not reported, the Fair Market Value of a Share shall be the mean between the high bid and low asked prices for the Shares on the date of determination (or, if no such prices were reported on that date, on the last date such prices were
reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; or 
 (c) In the absence of an
established market for the Shares of the type described in (a) and (b), above, the Fair Market Value shall be as determined in accordance with a valuation methodology approved by the Committee. 

1.2.21 “Fiscal Year” means a fiscal year of the Company. 

  
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 1.2.22 “Option” means a right granted to a Participant pursuant to
Section 4.1 of the Plan to purchase a specified number of Shares at a specified price during specified time periods. 
 1.2.23
“Other Stock-Based Awards” has the meaning set forth in Section 4.5 of the Plan. 
 1.2.24
“Participant” means a person who, as a Director, a Consultant or an Employee, has been granted an Award pursuant to the Plan. 

1.2.25 “Plan” means this Ecmoho 2018 Omnibus Incentive Plan, as it may be amended from time to time. 

1.2.26 “Related Entity” means any business, corporation, partnership, limited liability company or other entity in which the
Company or a Subsidiary of the Company holds a substantial ownership interest, directly or indirectly, but which is not a Subsidiary and which the Board designates as a Related Entity for purposes of the Plan. 

1.2.27 “Restricted Share” means a Share awarded to a Participant pursuant to Section 4.3 that is subject to
certain restrictions and may be subject to risk of forfeiture. 
 1.2.28 “Restricted Share Unit” means the right granted to
a Participant pursuant to Section 4.4 to receive a Share at a future date. 
 1.2.29 “Restriction Period” means
the period during which the transfer of Restricted Shares are subject to restrictions, which restrictions may be based on the passage of time, the achievement of certain performance objectives, or the occurrence of other events as determined by the
Committee, in its discretion. 
 1.2.30 “Securities Act” means the Securities Act of 1933 of the United States, as amended,
or any successor thereto, and the applicable rules and regulations thereunder. 
 1.2.31 “Service Recipient” means the
Company or any Subsidiary of the Company and any Related Entity to which a Participant provides services as an Employee, a Consultant or a Director. 

1.2.32 “Share” means an ordinary share of the Company or, to the extent applicable, a corresponding number of ADSs. 

1.2.33 “Stock Appreciation Right” means a right granted to a Participant pursuant to Section 4.2 of the Plan to a
payment in cash or Shares equal to the appreciation in the Company’s stock over a specified time period. 
 1.2.34
“Subsidiary” means any corporation or other entity of which a majority of the outstanding voting shares or voting power is beneficially owned or controlled through contractual arrangements directly or indirectly by the Company. 

  
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 ARTICLE 2 

SHARES SUBJECT TO THE PLAN 
  

	2.1	 Number of Shares. 

2.1.1 Subject to the provisions of Article 6 and Section 2.1.2, the maximum aggregate number of Shares which may be issued
pursuant to all Awards shall be 11,386,410 Shares. 
 2.1.2 To the extent that an Award terminates, expires, or lapses for any
reason, any Shares subject to the Award shall again be available for the grant of an Award pursuant to the Plan. To the extent permitted by Applicable Laws, Shares issued in assumption of, or in substitution for, any outstanding awards of any entity
acquired in any form or combination by the Company or any Subsidiary of the Company (“Acquisition Awards”) shall not be counted against Shares available for grant pursuant to the Plan. 

2.1.3 Shares subject to an Award that is forfeited (including any Restricted Shares repurchased by the Company at the same price paid by the
Participant so that such Shares are returned to the Company), expires or is settled for cash (in whole or in part), to the extent of such forfeiture, expiration or cash settlement will be available for future grants of Awards under the Plan and will
be added back in the same number of Shares as were deducted in respect of the grant of such Award. The payment of Dividend Equivalent Rights in cash in conjunction with any outstanding Awards will not be counted against the Shares available for
issuance under the Plan. Shares tendered by a Participant or withheld by the Company in payment of the exercise price of an Option or to satisfy any tax withholding obligation with respect to an Award will not again be available for Awards. 

 

	2.2	 Shares Distributed 

Any Shares distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares, treasury shares (subject to
Applicable Laws) or Shares purchased on the open market. Additionally, in the discretion of the Committee, ADSs in an amount equivalent to the number of Shares which otherwise would be distributed pursuant to an Award may be distributed in lieu of
Shares in settlement of any Award. If the number of Shares represented by an ADS is other than on a one-to-one basis, the limitations of Section 2.1 shall be
adjusted to reflect the distribution of ADSs in lieu of Shares. 
  

	2.3	 Types of Awards 

Awards under the Plan will be in the form of any of the following, in each case in respect of Shares: (a) Options, (b) Stock Appreciation
Rights, (c) Restricted Shares, (d) Restricted Share Units, (e) Dividend Equivalent Rights and (f) Other Stock-Based Awards (including, without limitation, the grant or offer for sale of unrestricted Shares) that the Committee
determines to be consistent with the purposes of the Plan and the interests of the Company. 

  
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 ARTICLE 3 

ELIGIBILITY AND PARTICIPATION 
  

	3.1	 Eligibility 

Persons eligible to participate in this Plan include Employees, Consultants, and all Directors, as determined by the Committee. 

 

	3.2	 Participation 

Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom Awards
shall be granted and shall determine the nature and amount of each Award. Except as provided in one or more written contracts between the Company and an individual, no individual shall have any right to be granted an Award pursuant to this Plan.

 ARTICLE 4 
 AWARDS
UNDER THE PLAN 
  

	4.1	 Options 

4.1.1 Grant of Options. Subject to the terms and provisions of the Plan, Options may be granted to Employees, Consultants or Directors
at any time and from time to time as determined by the Committee. The Committee, in its sole discretion, shall determine the number of Shares subject to each Option. 

4.1.2 Exercise Price. The exercise price per Share subject to an Option shall be determined by the Committee and set forth in the Award
Agreement which may be a fixed related to the Fair Market Value of the Shares, to the extent not prohibited by the Applicable Laws. For the avoidance of doubt, the Committee may set an exercise per Share that is less than the Fair Market Value of
the Shares on the date of grant, to the extent not prohibited by, or resulting in adverse tax or other consequences under, Applicable Law. 

4.1.3 Term. The term of any Option granted under the Plan shall not exceed ten (10) years from the Date of Grant. 

4.1.4 Vesting and Exercise. Except as otherwise provided in an applicable Award Agreement, each Option may not be vested for one
(1) year after the date on which the Option is granted, but thereafter will vest monthly over a three-year period. 

  
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 4.1.5 Payment. The Committee shall determine the methods by which the exercise price
of an Option may be paid, the form of payment, including, without limitation (i) cash or check denominated in U.S. Dollars, (ii) to the extent permissible under the Applicable Laws, cash or check in Chinese Renminbi, (iii) cash or
check denominated in any other local currency as approved by the Committee, (iv) Shares held for such period of time as may be required by the Committee in order to avoid adverse financial accounting consequences and having a Fair Market Value
on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof, (v) after an initial public offering the delivery of a notice that the Participant has placed a market sell order with a broker with
respect to Shares then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; provided that payment
of such proceeds is then made to the Company upon settlement of such sale, (vi) other property acceptable to the Committee with a Fair Market Value equal to the exercise price, or (vii) any combination of the foregoing. Notwithstanding any
other provision of the Plan to the contrary, no Participant who is a Director or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to pay the exercise price of an Option in any
method which would violate Section 13(k) of the Exchange Act. 
 4.1.6 Evidence of Grant. All Options shall be evidenced by an
Award Agreement between the Company and the Participant. The Award Agreement shall include such additional provisions as may be specified by the Committee. 

4.1.7 Expiration of Option. Options may not be exercised to any extent by anyone after the first to occur of the following events: 

(a) Ten (10) years from the Date of Grant, unless an earlier time is set in the Award Agreement; 

(b) Ninety (90) days after the Participant’s termination of Employment and service for any reason other than Cause, death or
Disability, except as otherwise set forth in an applicable Award Agreement or as determined by the Board in its sole discretion; 
 (c) Upon
the Participant’s termination of Employment for Cause; and 
 (d) Ninety (90) days after the date of the Participant’s
termination of Employment and service on account of Disability or death. Upon the Participant’s Disability or death, any Options exercisable as of the Participant’s Disability or death may be exercised by the Participant’s legal
representative or representatives, by the person or persons entitled to do so pursuant to the Participant’s last will and testament, or, if the Participant fails to make testamentary disposition of such Option or dies intestate, by the person
or persons entitled to receive the Option pursuant to the applicable laws of descent and distribution. 
 Any Options not exercised within
the period of time required pursuant to the earliest to occur of the events described in (a) – (d) above shall terminate and the Shares covered by such Option shall revert to the Plan. In addition, except as otherwise provided in an Award
Agreement, if, on the date of termination, the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall be forfeited by the Participant and shall immediately revert to the Plan. 

 

	4.2	 Stock Appreciation Rights 

4.2.1 Grant of Stock Appreciation Rights. Stock Appreciation Rights may be granted to eligible recipients in such number and at such
times during the term of the Plan as the Committee or the Board may determine, subject to the limits on grants set forth in Section 2.1. 

  
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 4.2.2 Exercise Price. The exercise price per Share with respect to each Stock
Appreciation Right will be determined by the Committee but, except as otherwise permitted by Section 6.1 or in the case of an Acquisition Award, may never be less than the Fair Market Value of the Shares. 

4.2.3 Term. In no event will any Stock Appreciation Right be exercisable after the expiration of ten (10) years from the date on
which the Stock Appreciation Right is granted. 
 4.2.4 Vesting and Exercise of Stock Appreciation Right and Delivery of Shares.
Except as otherwise provided in an applicable Award Agreement, each Stock Appreciation Right may not be exercised for one (1) year after the date on which the Stock Appreciation Right is granted (except in the case of termination of Employment
due to death, disability or retirement), but thereafter will vest monthly over a three-year period, unless otherwise provided in an applicable Award Agreement. To exercise a Stock Appreciation Right, the Participant must give written notice
to the Company specifying the number of Stock Appreciation Rights to be exercised. Upon exercise of Stock Appreciation Rights, subject to any limitations in the applicable Award Agreement, shares or cash, in the Committee’s discretion, with a
Fair Market Value or in an amount equal to (a) the excess of (i) the Fair Market Value of the Shares on the date of exercise over (ii) the exercise price of such Stock Appreciation Right multiplied by (b) the number of Stock
Appreciation Rights exercised will be delivered to the Participant. Any person exercising a Stock Appreciation Right will make such representations and agreements and furnish such information as the Committee may, in its discretion, deem necessary
or desirable to assure compliance by the Company, on terms acceptable to the Company, with the provisions of any applicable legal requirements. 
  

	4.3	 Restricted Shares 

4.3.1 Grant of Restricted Shares. The Committee, at any time and from time to time, may grant Restricted Shares to Participants as the
Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Shares to be granted to each Participant. 

4.3.2 Restricted Shares Award Agreement. Each Award of Restricted Shares shall be evidenced by an Award Agreement that shall specify
the Restriction Period, the number of Restricted Shares granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. Unless the Committee determines otherwise, Restricted Shares shall be held by the Company
as escrow agent until the restrictions on such Restricted Shares have lapsed. 
 4.3.3 Issuance and Restrictions. Restricted Shares
shall be subject to such restrictions on transferability and other restrictions as the management may impose (including, without limitation, limitations on the right to vote Restricted Shares or the right to receive dividends on the Restricted
Share). These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. 

  
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 4.3.4 Forfeiture/Repurchase. Except as otherwise determined by the Committee at the
time of the grant of the Award or thereafter, upon termination of Employment or service during the applicable Restriction Period, Restricted Shares that are at that time subject to restrictions shall be forfeited or repurchased in accordance with
the Award Agreement; provided, however, the management may (a) provide in any Restricted Share Award Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Shares will be waived in whole or in
part in the event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Shares. 

4.3.5 Certificates for Restricted Shares. Restricted Shares granted pursuant to the Plan may be evidenced in such manner as the
Committee shall determine. If certificates representing Restricted Shares are registered in the name of the Participant, certificates must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted
Shares, and the Company may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse. 

4.3.6 Removal of Restrictions. Except as otherwise provided in this Section 4.3, Restricted Shares granted under the Plan
shall be released from escrow as soon as practicable after the last day of the Restriction Period. The Committee, in its discretion, may accelerate the time at which any restrictions shall lapse or be removed. After the restrictions have lapsed, the
Participant shall be entitled to have any legend or legends under Section 4.3.5 removed from his or her Share certificate, and the Shares shall be freely transferable by the Participant, subject to applicable legal restrictions. The
Committee (in its discretion) may establish procedures regarding the release of Shares from escrow and the removal of legends, as necessary or appropriate to minimize administrative burdens on the Company. 

 

	4.4	 Restricted Share Units 

4.4.1 Grant of Restricted Share Units. The Committee, at any time and from time to time, may grant Restricted Share Units to
Participants as the Committee, in its sole discretion, shall determine. The Committee, in its sole discretion, shall determine the number of Restricted Share Units to be granted to each Participant. 

4.4.2 Restricted Share Units Award Agreement. Each Award of Restricted Share Units shall be evidenced by an Award Agreement that shall
specify any vesting conditions, the number of Restricted Share Units granted, and such other terms and conditions as the Committee, in its sole discretion, shall determine. 

4.4.3 Performance Objectives and Other Terms. The Committee, in its discretion, may set performance objectives or other vesting
criteria which, depending on the extent to which they are met, will determine the number or value of Restricted Share Units that will be paid out to the Participants. 

4.4.4 Form and Timing of Payment of Restricted Share Units. Except as otherwise provided in an applicable Award Agreement, each
Restricted Share Unit may not be vested for one (1) year after the date on which the Restricted Share Unit is granted, but thereafter will vest monthly over a three-year period. Upon vesting, the Committee, in its sole discretion, may
pay Restricted Share Units in the form of cash, in Shares or in a combination thereof. 

  
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 4.4.5 Forfeiture/Repurchase. Except as otherwise determined by the Committee at the
time of the grant of the Award or thereafter, upon termination of Employment and service during the applicable Restriction Period, Restricted Share Units that are at that time unvested shall be forfeited or repurchased in accordance with the Award
Agreement; provided, however, the Committee may (a) provide in any Restricted Share Unit Award Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in
part in the event of terminations resulting from specified causes, and (b) in other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Share Units. 

 

	4.5	 Other Stock-Based Awards 

The Committee may grant other types of equity-based or equity-related Awards (including, without limitation, the grant or offer for sale of
unrestricted Shares) in such amounts and subject to such terms and conditions as the Committee may determine (“Other Stock-Based Awards”). Such Awards may entail the transfer of actual Shares to Award recipients or may be settled in
cash, and may include Awards designed to comply with or take advantage of the applicable local laws of certain jurisdictions. 
  

	4.6	 Dividend Equivalent Rights 

The Committee may include in the Award Agreement with respect to any Award, other than Options and Stock Appreciation Rights, a Dividend
Equivalent Right entitling the Participant to receive amounts equal to all or any portion of the dividends that would be paid on the Shares covered by such Award if such Shares had been delivered pursuant to such Award. The grantee of a Dividend
Equivalent Right will have only the rights of a general unsecured creditor of the Company until payment of such amounts is made as specified in the applicable Award Agreement. In the event such a provision is included in an Award Agreement, the
Committee will, subject to Section 10.15, determine whether such payments will be made in cash, in Shares or in another form, whether they will be conditioned upon the exercise or vesting of the Award to which they relate, the time or
times at which they will be made, and such other terms and conditions as the Committee may deem appropriate. 
 ARTICLE 5 

PROVISIONS APPLICABLE TO AWARDS 
  

	5.1	 Award Agreement. 

Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and limitations for each Award, which may
include the term of an Award, the provisions applicable in the event the Participant’s Employment or service terminates, and the Company’s authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind an Award. 

  
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	5.2	 Limits on Transfer 

No right or interest of a Participant in any Award may be pledged, encumbered, or hypothecated to or in favor of any party other than the
Company or a Subsidiary, or shall be subject to any lien, obligation, or liability of such Participant to any other party other than the Company or a Subsidiary. Except as otherwise provided by the Committee, no Award shall be assigned, transferred,
or otherwise disposed of by a Participant other than by will or the laws of descent and distribution. Nevertheless, an Award can be transferred to, exercised by and paid to certain persons or entities which are owned or related to the Participant,
including but not limited to members of the Participant’s family, charitable institutions, or trusts or other entities whose beneficiaries or beneficial owners are Participants or members of the Participant’s family and/or charitable
institutions, or to such other persons or entities. 
  

	5.3	 Share Certificates 

Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates evidencing the Shares
pursuant to the exercise of any Award, unless and until the Committee has determined, with advice of counsel, that the issuance and delivery of such certificates is in compliance with all Applicable Laws, regulations of governmental authorities and,
if applicable, the requirements of any exchange on which the Shares are listed or traded. All Share certificates delivered pursuant to the Plan are subject to any stop-transfer orders and other restrictions as the Committee deems necessary or
advisable to comply all Applicable Laws, and the rules of any national securities exchange or automated quotation system on which the Shares are listed, quoted, or traded. The Committee may place legends on any Share certificate to reference
restrictions applicable to the Shares. In addition to the terms and conditions provided herein, the Committee may require that a Participant make such reasonable covenants, agreements, and representations as the Committee, in its discretion, deems
advisable in order to comply with any such laws, regulations, or requirements. The Committee shall have the right to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award,
including a window-period limitation, as may be imposed in the discretion of the Committee. 
 ARTICLE 6 

CHANGES IN CAPITAL STRUCTURE 
  

	6.1	 Adjustments 

In the event of any special dividend, share split, combination or exchange of Shares, amalgamation, arrangement or consolidation, spin-off, recapitalization or other distribution (not including normal cash dividends) of Company assets to its shareholders, or any other change affecting the shares of Shares or the price or value of a Share, the
Committee shall consider whether there is any diminution or enlargement of the benefits intended to be made available under the Award, and then may in its sole discretion make such proportionate adjustments (if any) as it considers to reflect such
change with respect to (a) the aggregate number and type of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 2.1); (b) the terms and conditions of any outstanding
Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); (c) the grant or exercise price per share for any outstanding Awards under the Plan; and (d) in the case of a spin-off, the additional number and type of shares (including shares in the entities being spun-off) that shall be issued or an appropriate decrease of exercise price in
connection with the spin-off. 

  
 -12- 

	6.2	 Change in Control 

Except as may otherwise be provided in any Award Agreement or any other written agreement entered into by and between the Company and a
Participant, if the Committee anticipates the occurrence, or upon the occurrence, of a Change in Control, the Committee may, in its sole discretion, provide for one or more of the following: (i) any and all Awards outstanding hereunder to
terminate at a specific time in the future and shall give each Participant the right to exercise the vested portion of such Awards during a period of time as the Committee shall determine, or (ii) the termination of any Award in exchange for an
amount of cash equal to the amount that could have been attained upon the exercise of such Award (and, for the avoidance of doubt, if as of such date the Committee determines in good faith that no amount would have been attained upon the exercise of
such Award, then such Award may be terminated by the Company without payment), or (iii) the replacement of such Award with other rights or property selected by the Committee in its sole discretion or the assumption of or substitution of such
Award by the successor or surviving corporation, or a parent or Subsidiary thereof, with appropriate adjustments as to the number and kind of Shares and prices, or (iv) payment of Award in cash based on the value of Shares on the date of the
Change in Control plus reasonable interest on the Award through the date when such Award would otherwise be vested or have been paid in accordance with its original terms, if necessary to comply with Section 409A of the Code. 

 

	6.3	 Outstanding Awards – Other Changes 

In the event of any other change in the capitalization of the Company or corporate change other than those specifically referred to in this
Article 6, subject to Applicable Laws and the terms of the Plan, the Committee may, in its sole discretion, make such adjustments in the number and class of shares subject to Awards outstanding on the date on which such change occurs and in
the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights. 
  

	6.4	 No Other Rights 

Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation of Shares of any
class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation. Except as expressly provided in the Plan or pursuant
to action of the Committee under the Plan, no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares
subject to an Award or the grant or exercise price of any Award. 

  
 -13- 

 ARTICLE 7 

ADMINISTRATION 
  

	7.1	 Committee 

The Plan shall be administered by the Board having regard to any recommendations made to the Board by the compensation committee or if the
Board has delegated the authority to the Committee members in accordance with the terms of such delegation (provided that in such case the Committee shall not grant or amend Awards to any Committee members). The term
“Committee” in this Plan shall refer to the Board unless a delegation has been made by the Board to the compensation committee and in which case only to the extent of such delegation. 

 

	7.2	 Action by the Committee 

A majority of the Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum is
present, or acts approved in writing by all the Committee members in lieu of a meeting, shall be deemed the acts of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished
to that member by any officer or other employee of the Company or any Subsidiary of the Company, the Company’s independent certified public accountants, or any executive compensation consultant or other professional retained by the Company to
assist in the administration of the Plan. 
  

	7.3	 Authority of the Committee 

Subject to any specific designation in the Plan, the Committee has the exclusive power, authority and discretion to: 

7.3.1 Designate Participants to receive Awards; 

7.3.2 Determine the type or types of Awards to be granted to each Participant; 

7.3.3 Determine the number of Awards to be granted and the number of Shares to which an Award will relate; 

7.3.4 Determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant
price, or purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, any provisions related to non-competition and recapture of gain on an Award, based in each case on such considerations as the Committee in its sole discretion determines; 

7.3.5 Determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may
be paid in, cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 
 7.3.6 Prescribe the
form of each Award Agreement, which need not be identical for each Participant; 

  
 -14- 

 7.3.7 Decide all other matters that must be determined in connection with an Award; 

7.3.8 Determine the Fair Market Value, consistent with the terms of the Plan; 

7.3.9 Establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan; 

7.3.10 Interpret the terms of, and any matter arising pursuant to, the Plan, any Award Agreement and any Award granted thereunder; and 

7.3.11 Make all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems necessary or advisable
to administer the Plan. 
  

	7.4	 Decisions Binding 

The Committee’s interpretation of the Plan, any Awards granted pursuant to the Plan, any Award Agreement and all decisions and
determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. 
 ARTICLE 8 

EFFECTIVE AND EXPIRATION DATE 
  

	8.1	 Effective Date 

The Plan is effective as of the date the Plan is adopted and approved by the Board (the “Effective Date”). 

 

	8.2	 Expiration Date 

The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth (10th) anniversary of the Effective Date. Any Awards
that are outstanding on the tenth (10th) anniversary of the Effective Date shall remain in force according to the terms of the Plan and the applicable Award Agreement. 

ARTICLE 9 
 AMENDMENT,
MODIFICATION, AND TERMINATION 
  

	9.1	 Amendment, Modification, And Termination 

With the approval of the Board, at any time and from time to time, the Committee may terminate, amend or modify the Plan; provided,
however, that (a) to the extent necessary to comply with Applicable Laws, the Company shall obtain shareholder approval of any Plan amendment in such a manner and to such a degree as required, unless the Company decides to follow home
country practice, and (b) unless the Company is permitted to and decides to follow home country practice, shareholder approval is required for any amendment to the Plan that (i) increases the number of Shares available under the Plan
(other than any adjustment as provided by Article 6), (ii) permits the Committee to extend the term of the Plan, or (iii) makes any other change that requires shareholder approval under Applicable Law. 

  
 -15- 

	9.2	 Awards Previously Granted 

Except with respect to amendments made pursuant to Section 9.1, no termination, amendment, or modification of the Plan shall
adversely affect in any material way any Award previously granted pursuant to the Plan without the prior written consent of the Participant. 

ARTICLE 10 
 GENERAL
PROVISIONS 
  

	10.1	 No Rights to Awards 

No Participant, employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the
Committee is obligated to treat Participants, employees, and other persons uniformly. 
  

	10.2	 No Shareholders Rights 

Except as otherwise determined by the Committee at the time of the grant of an Award or thereafter, no Award gives the Participant any of the
rights of a Shareholder of the Company unless and until Shares are in fact issued to such person in connection with such Award. 
  

	10.3	 Taxes 

No Shares shall be delivered under the Plan to any Participant until such Participant has made arrangements acceptable to the Committee for the
satisfaction of any income and employment tax withholding obligations under Applicable Laws. The Company or any Subsidiary shall have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount
sufficient to satisfy all applicable taxes (including the Participant’s payroll tax obligations) required or permitted by Applicable Laws to be withheld with respect to any taxable event concerning a Participant arising as a result of this
Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold Shares otherwise issuable under an Award (or allow the return of Shares) having a Fair Market Value
equal to the sums required to be withheld. 
  

	10.4	 No Right to Employment or Services 

Nothing in the Plan or any Award Agreement shall interfere with or limit in any way the right of the Service Recipient to terminate any
Participant’s Employment or services at any time, nor confer upon any Participant any right to continue in the Employment or services of any Service Recipient. 
  

	10.5	 Unfunded Status of Awards 

The Plan is intended to be an “unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant
pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any Subsidiary. 

  
 -16- 

	10.6	 Indemnification 

To the extent allowable pursuant to Applicable Laws, each member of the Committee or of the Board shall be indemnified and held harmless by the
Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may
be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit, or proceeding against him or her; provided he or she
gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of
indemnification to which such persons may be entitled pursuant to the Company’s Memorandum of Association and Articles of Association, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them
harmless. 
  

	10.7	 Relationship to other Benefits 

No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit
sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary of the Company except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder. 

 

	10.8	 Expenses 

The expenses of administering the Plan shall be borne by the Company and its Subsidiaries. 

 

	10.9	 Titles and Headings 

The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the
Plan, rather than such titles or headings, shall control. 
  

	10.10	 Fractional Shares 

No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in lieu of fractional
Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate. 
  

	10.11	 Permitted Repricing; No Reloads 

The Board may, in its sole discretion, reduce the exercise price of Options or Stock Appreciation Rights issued and outstanding under the Plan,
including through amendment, cancellation in exchange for the grant of a substitute Award or repurchase for cash or other consideration (in each case that has the effect of reducing the exercise price). The Company will not grant any Options or
Stock Appreciation Rights with automatic reload features.  

  
 -17- 

	10.12	 Limitations Applicable to Section 16 Persons 

Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any Participant who is then subject to
Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3
of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by the Applicable Laws, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to
such applicable exemptive rule. 
  

	10.13	 Government and Other Regulations 

The obligation of the Company to make payment of awards in Shares or otherwise shall be subject to all Applicable Laws, and to such approvals
by government agencies as may be required. The Company shall be under no obligation to register any of the Shares paid pursuant to the Plan under the Securities Act or any other similar law in any applicable jurisdiction. If the Shares paid pursuant
to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws, the Company may restrict the transfer of such Shares in such manner as it deems advisable to ensure the availability of any
such exemption. 
  

	10.14	 Governing Law 

The Plan and all Award Agreements shall be construed in accordance with and governed by but not the choice of law rules of the Cayman Islands.

  

	10.15	 Section 409A 

It is the intent of the Company that payments and benefits under the Plan comply with Section 409A of the Code to the extent subject
thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and be administered to be in compliance therewith. To the extent that the Committee determines that any Award granted under the Plan is or may become subject
to Section 409A of the Code, the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code. To the extent applicable, the Plan and the Award Agreements shall be interpreted in
accordance with Section 409A of the Code and the U.S. Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such regulation or other guidance that may be issued after the
Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Committee determines that any Award may be subject to Section 409A of the Code and related Department of Treasury
guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Committee may adopt such amendments to the Plan and the applicable Award Agreement or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the
benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related U.S. Department of Treasury guidance. 

  
 -18- 

	10.16	 Appendices 

The Committee may approve such supplements, amendments or appendices to the Plan as it may consider necessary or appropriate for purposes of
compliance with Applicable Laws or otherwise and such supplements, amendments or appendices shall be considered a part of the Plan; provided, however, that no such supplements shall increase the share limitation contained in
Section 2.1 of the Plan without the approval of the Board and shareholder approval to the extent required by Applicable Laws. 

  
 -19-EX-10.18

 Exhibit 10.18 

Execution Version 
 THIS DEED OF CHARGE
OF INVENTORIES is made on 23 November 2018 
 BETWEEN 
  

	(1)	 Import It Corp., a company incorporated under the laws of the British Virgin Islands whose registered
office is situated at Intershore Consult (BVI) Limited of Intershore Chamber, Wickham Cay 1, P.O. Box 4342, Road Town, Tortola, British Virgin Islands (“the Company”); and 

 

	(2)	 Taipei Fubon Commercial Bank Co., Ltd., Hong Kong Branch whose principal place of business in Hong Kong
is situated at 16/F, K11 Atelier, Victoria Dockside, 18 Salisbury Road, Tsim Sha Tsui, Kowloon, Hong Kong (“the Bank”). 

WHEREAS: 
  

	(A)	 By a facility letter (“Facility Agreement”) dated 18 October 2018 issued by the Bank to the
Company and Ecmoho (Hong Kong) Limited (collectively “the Borrowers”) and duly executed by them, the Bank agreed to provide to the Borrowers revolving credit facility to the extent of USD25,000,000.00. 

 

	(B)	 It is a condition (amongst others) of the Facility Agreement that a floating charge of the Inventories (as
hereinafter defined) be provided by the Company in favour of the Bank as security for Secured Indebtedness (as hereinafter defined). 

NOW THIS DEED WITNESSES as follows: 
  

	1.	 INTERPRETATION 

 

	1.1	 Definitions and construction. In this Deed, unless the context requires otherwise:

 “Approved Storage Areas” means godown, warehouses and demarcated spaces in which the Inventories shall
be stored from time to time with the prior written approval of the Bank; 
 “Borrowers” means the Company and Ecmoho (Hong
Kong) Limited collectively and “Borrower” means any of them and where the context requires includes their respective successors and assigns; 

“Charge of Inventories (1)” means a first legal floating charge of Inventories (as therein defined) to be provided by Ecmoho
(Hong Kong) Limited in favour of the Chargee as security for Secured Indebtedness. 
 “Charge Over Bank Account” means
(i) a first legal fixed and floating charge over Bank Account (as defined therein) to be provided by the Company in favour of the Bank as security for Secured Indebtedness and (ii) a first legal fixed and floating charge over Bank Account
(as defined therein) to be provided by Ecmoho (Hong Kong) Limited in favour of the Bank as security for Secured Indebtedness; 

 “Charge over Receivables” means (i) a first legal fixed and
floating charge over the Receivables (as defined therein) to be provided by the Company in favour of the Bank as security for Secured Indebtedness and (ii) a first legal fixed and floating charge over the Receivables (as defined therein) to be
provided by Ecmoho (Hong Kong) Limited in favour of the Bank as security for Secured Indebtedness; 
 “Credit Facility”
means the revolving credit facility to the extent of USD25,000,000.00 to be provided by the Bank to the Borrowers under the Facility Agreement; 

“Deed” means this deed of charge of inventories including its amendments, supplements and replacements; 

“Encumbrance” means: 
  

	 	(i)	 any mortgage, charge, pledge, lien, encumbrance, hypothecation or other security interest or security
arrangement of any kind; 

  

	 	(ii)	 any arrangement whereby any rights are subordinated to any rights of any third party; and

  

	 	(iii)	 any contractual right of set-off; 

“Event of Default” means any event specified as such in Clause 7 and “prospective Event of
Default” means any event which with the giving of notice and/or the passage of time and/or the fulfillment of any other condition would be an Event of Default; 

“Facility Agreement” means the facility letter dated 18 October 2018 issued by the Bank to the Borrowers relating
to the Credit Facility and including its amendments, supplements and replacements; 
 “Finance Documents” means the
Facility Agreement, this Deed, the Guarantees, the Charge over Bank Account, the Charge over Receivables, the Charge of Inventories (1), Share Charges and all other securities and documents relating to the Credit Facility and “Finance
Document” mean any of them; 

  
 - 2 - 

 “Guarantees” means (i) collectively the guarantee to be provided by
ECMOHO (Hong Kong) Health Limited in favour of the Bank as security for all liabilities due by the Borrowers to the Bank to the extent of USD25,000,000.00 and interest, costs and expenses; and (ii) the guarantee to be provided by ECMOHO Limited
in favour of the Bank as security for all liabilities due by the Borrowers to the Bank to the extent of USD25,000,000.00 and interest, costs and expenses; 

“Hong Kong” means Hong Kong Special Administrative Region of PRC; 

“Inventories” means (i) all raw materials, works in process and finished goods both present and future owned by the
Company or to which the Company is entitled and whether in transit or in storage (ii) documents of title, warehouse keeper receipts, certificates of deposit relating to them, (iii) sale proceeds relating to them; and (iv) insurance
proceeds relating to them; 
 “Obligors” means all parties to the Finance Documents other than the Bank and
“Obligor” means any one of them; 
 “PRC” means The People’s Republic of China; 

“Receiver” means any receiver, manager, receiver and manager or other similar officer appointed by the Bank in respect of the
security hereby granted; 
 “Secured Indebtedness” means all moneys, obligations and liabilities whether actual or
contingent now or hereafter due owing or incurred to the Bank by any of the Obligors under Finance Documents in whatever currency denominated and whether alone or jointly and whether as principal or surely when the same are due and including all
costs and expenses incurred by the Bank relating thereto on a full indemnity basis; 
 “Share Charges” means
(i) the first fixed legal charge of 9,393,800 Class B Ordinary Shares of ECMOHO Limited by Behealth Limited in favour of the Bank as security for Secured Indebtedness; and (ii) the first fixed legal charge of 9,393,800 Class B
Ordinary Shares of ECMOHO Limited by Uhealth Limited in favour of the Bank as security for Secured Indebtedness; and 

“USD” means United States Dollar, the lawful currency of the United States of America. 

  
 - 3 - 

	1.2	 Successors and Assigns. The expressions “Company” and “Bank” shall where the context
permits include their respective successors and permitted assigns and any persons deriving title under them. 

  

	1.3	 Miscellaneous. In this Deed, unless the context requires otherwise, references to statutory provisions
shall be construed as references to those provisions as replaced, amended, modified or re-enacted from time to time; words importing the singular include the plural and vice versa and words importing a gender
include every gender, references to this Deed or any other security document shall be construed as references to such document as the same may be amended or supplemented from time to time; unless otherwise stated, references to Clauses and Schedules
are to clauses and schedules of this Deed, and reference to person shall include an individual firm company corporation and an unincorporated body of persons. Clause headings are inserted for reference only and shall be ignored in construing this
Deed. 

  

	2.	 COVENANT TO PAY 

The Company hereby covenants that it will on demand pay to the Bank the Secured Indebtedness and discharge all moneys obligations and
liabilities whether actual or contingent now or hereinafter due owing or incurred to the Bank by the Obligors under the Finance Documents in whatever currency denominated and whether alone or jointly and in whatever style name or form and whether as
principal or surety when the same are due including all costs and expenses incurred by the Bank relating thereto on a full indemnify basis. 
  

	3.	 CHARGE 

  

	3.1	 Charge. The Company as legal and beneficial owner hereby charges to the Bank the Inventories by way of
first floating charge as a continuing security for the payment and discharge of the Secured Indebtedness Provided That upon payment and discharge of the entire Secured Indebtedness the Bank shall, at the request and costs of the Company, release the
Inventories hereby charged within fourteen (14) Business Days upon the request of the Company at the cost of the Company. For the avoidance of doubt, the Facility Agreement shall be terminated upon the above release. 

 

	3.2	 Conversion of Floating Charge. 

 

	 	(a)	 The Bank may, upon the occurrence of an Event of Default or a prospective Event of Default, by serving a notice
in writing on the Company, convert the floating charge hereby created into a fixed charge as regards any property, assets or rights specified in that notice. 

  
 - 4 - 

	 	(b)	 Without prejudice to the effect of this Clause, if the Company mortgages, charges, pledges or otherwise
encumbers (whether by way of fixed or floating charge or otherwise howsoever) any of the Inventories or attempts to do so without the prior consent in writing of the Bank, or is otherwise in breach of any of the provisions in Clause 6, or if any
person levies or attempts to levy any distress, execution or sequestration or other process against all or any of the Inventories on the occurrence of any of such events, the floating charge created under Clause 3.1 shall automatically and
immediately, without any notice from the Bank or any other formality or process whatsoever, crystallize and operate as a fixed charge as regards the Inventories. 

 

	4.	 CONTINUING SECURITY 

This Deed shall be a continuing security and shall remain in full force and effect until the day the Secured Indebtedness has been paid in full
notwithstanding the insolvency or liquidation or any incapacity or change in the constitution or status of the Company or any other Obligors or any intermediate settlement of account or other matter whatsoever. This Deed is in addition to, and
independent of, any charge, guarantee or other security or right or remedy now or at any time hereafter held by or available to the Bank. 
  

	5.	 REPRESENTATIONS AND WARRANTIES 

 

	5.1	 Representations and Warranties. The Company represents and warrants to the Bank that:

  

	 	(a)	 the Inventories are or when acquired will be legal and beneficially owned by the Company free from any
Encumbrances except for the charge created under or pursuant to this Deed; 

  

	 	(b)	 no litigation, arbitration or administrative proceeding is currently taking place or pending or threatened in
relation to the Inventories; 

  

	 	(c)	 it has the power and has obtained the requisite authority to enter into this Deed and to perform its
obligations (including but not limited to the passing of the required board resolution of the Company; 

  
 - 5 - 

	 	(d)	 its entry into and/or performance of or compliance with its obligations under this Deed do not and will not
violate any law to which it is subject or any of the documents constituting it or agreement or arrangement to which it is a party; 

  

	 	(e)	 this Deed constitutes the legal, valid and binding obligations of the Company enforceable in accordance with
its terms; 

  

	 	(f)	 no Event of Default or prospective Event of Default has occurred; and 

 

	 	(g)	 all financial and other information supplied to the Bank in connection with this Deed is correct, true and
accurate in all respects and the Company is not aware of any fact which has not been disclosed in writing to the Bank which might have a material effect on any such information or which might affect the willingness of the Bank to grant any facility
to the Company. 

  

	5.2	 Continuing Representations and Warranties. The Company also represents and warrants to and undertakes
with the Bank that the foregoing representations and warranties will be true and accurate throughout the continuance of this Deed with reference to the facts and circumstances subsisting at the relevant time. 

 

	6.	 UNDERTAKINGS 

  

	6.1	 Affirmative undertakings relating to Inventories. The Company undertakes and agrees with the Bank
throughout the continuance of this Deed and so long as the Secured Indebtedness or any part thereof remains owing that the Company will, unless the Bank otherwise agree in writing: 

 

	 	(a)	 keep all Inventories at Approved Storage Areas only in good order, repair and conditions;

  

	 	(b)	 procure that all Inventories kept at Approved Storage Areas be subject to adequate supervision, monitoring and
control; 

  

	 	(c)	 keep all Intangibles insured for full value against all insurable risk (including fire, flood, other natural
calamities or acts of god, burglary, theft, riots, strikes and malicious damage) as may be reasonably required by the Bank and procure that such insurance policies shall be endorsed in the name of the Bank as loss payee; 

 

	 	(d)	 promptly pay all taxes fees and other governmental fees relating to the Inventories under applicable laws;

  
 - 6 - 

	 	(e)	 promptly pay all fees relating to the storage and other services in respect of the Inventories;

  

	 	(f)	 permit and provide the Bank’s authorized representatives or agents access to Approved Storage Areas to
conduct such inspections, verifications and checks on the quality, quantity and condition of the Inventories as the Bank may request at its sole discretion; 

  

	 	(g)	 procure that inventory reports relating to Inventories kept at Approved Storage Areas to be provided to the
Bank on a [daily] basis; 

  

	 	(h)	 at the written request of the Bank, procure that collateral managers appointed by the Bank shall take control
over the Inventories kept at Approved Storage Areas and take such actions as may be necessary to facilitate the vesting of such control in the collateral managers so appointed; 

 

	 	(i)	 promptly report to the Bank any incident which may cause damage and loss of Inventories whether in transit or
in storage and take necessary actions to prevent or limit such damage or loss; 

  

	 	(j)	 deliver to the Bank all documents of title, warehouse keepers’ receipts and certificate of deposit
relating to the Inventories upon written request by the Bank; and 

  

	 	(k)	 ensure that all Inventories are separately stored and not commingled with other materials and goods and can be
readily identified and retrievable. 

  

	6.2	 Affirmative undertakings in general. The Company undertakes and agrees with the Bank throughout the
continuance of this Deed and so long as the Secured Indebtedness or any part thereof remains owing that the Company will, unless the Bank otherwise agree in writing: 

 

	 	(a)	 conduct and carry on its business in a proper and efficient manner and keep or cause to be kept proper books of
accounts relating to such business; 

  

	 	(b)	 get in and realize all book and other debts and claims as they fall due and not charge or dispose of and
(except in its ordinary course of business) not release exchange compound set off or grant time or indulgence in respect of all or any of the same; 

  

	 	(c)	 observe and perform all covenants and stipulations from time to time affecting its patents, patent
applications, trade marks, trade names, registered designs and copyrights and all other industrial or intangible property or any license or ancillary or connected rights from time to time relating to industrial or intangible property and preserve
maintain and renew when necessary or desirable all such licenses and rights; 

  
 - 7 - 

	 	(d)	 keep the Company’s undertaking or any part thereof insured (whenever required by the Bank to do so) in the
name of the Company (with the Bank’s interest as mortgagee noted on the policy except in relation to policy for third party or public liability) and with a clause to ensure payment of any loss to the Bank except in relation to payment of any
loss to third parties in the full replacement value thereof, with an insurance company arranged by such reputable insurance company as shall have been previously approved in writing by the Bank against such loss or damage as are normally maintained
by prudent companies carrying on similar business, and duly pay and discharge all premiums and other moneys necessary for effecting and keeping up such insurances, and produce to and deposit with the Bank the policies of such insurance or the cover
note in relation thereto and sufficient evidence of such payments, failing which the Bank may take out or renew such insurances in any sum which the Bank may think expedient, and all moneys expended by the Bank under this subclause shall be
reimbursed by the Company on demand and bear interest at the default rate to be charged by the Bank and from the time of the same having been expended and until such payment the same shall be deemed part of the Secured Indebtedness and shall be
recoverable accordingly. All moneys to be received by virtue of any insurance maintained or effected by the Company (whether or not in pursuance of the Company’s obligations hereunder) shall be applied in replacing, restoring or reinstating the
undertaking property or assets destroyed or damaged and any deficiency being made good by the Company; 

  

	 	(e)	 at the request of the Bank, direct the Company’s debtors to make payment into such account in the name of
the Company with the Bank as may be designated by the Bank; 

  
 - 8 - 

	 	(f)	 furnish to the Bank copies of the audited balance sheet and profit and loss account of the Company within the
prescribed period required by the Bank after the end of each accounting year; 

  

	 	(g)	 permit the Bank or any other person appointed by it at all reasonable times to have access to all books of
account, financial records and documents kept by the Company; 

  

	 	(h)	 promptly inform the Bank of :- 

 

	 	(i)	 the occurrence of any Event of Default or prospective Event of Default; 

 

	 	(ii)	 any litigation, arbitration or administrative proceeding brought against the Company; 

 

	 	(i)	 punctually pay and discharge all debts and obligations which by law have priority over the security hereby
constituted; 

  

	 	(j)	 punctually pay all sums due from it to the Bank and otherwise comply with its obligations under this Deed;

  

	 	(k)	 cause the Company’s undertaking or any part thereof to be valued by a duly qualified valuer, approved in
writing by the Bank, at such times and from time to time and for such purposes and on such bases as the Bank may require; 

  

	 	(l)	 comply with all governmental or other legal requirements and notices, whether statutory or otherwise, in
respect of the Undertaking or any part thereof; and 

  

	 	(m)	 permit the Bank or any other person appointed by it at all reasonable times to have access to and view the
state of repair and condition of the Company’s undertaking or any part thereof without such person by so doing, being deemed to have taken possession of the Company’s undertaking or any part thereof. 

 

	6.3	 Negative Undertakings. The Company undertakes and agrees with the Bank throughout the continuance of this Deed
and so long as the Secured Indebtedness or any part thereof remains owing that the Company will not, unless the Bank otherwise agree in writing: 

  

	 	(a)	 sell, lend, transfer, part with possession of or otherwise assign, deal with or dispose of or grant any option
over the Inventories or any interest therein or attempt or agree to do any of the same except for the manufacture and sale of Inventories in the ordinary course of business of the Company; 

  
 - 9 - 

	 	(b)	 create or attempt or agree to create or permit to arise or exist any Encumbrance over the Inventories or any
interest therein (except for Prior Charge (if any) and under or pursuant to this Deed) and no Encumbrance purported to be created in breach of this restriction shall take priority over or rank pari passu with the Bank’s securities provided
under this Deed; and 

  

	 	(c)	 do or cause or permit to be done anything which may in any way depreciate, jeopardise or otherwise prejudice
the value of the Bank’s security hereunder. 

  

	7.	 EVENTS OF DEFAULT 

 

	7.1	 Each of the following events shall be an Event of Default: 

 

	 	(a)	 any of the Borrowers makes default in the payment on the due date and in accordance with the terms and
conditions under Facility Agreement of any principal or interest or other moneys outstanding and payable by the Company to the Bank (whether demanded or not); 

 

	 	(b)	 any of the Obligors make default in the payment on the due date and in accordance with the terms and conditions
relating thereto under any Finance Documents in respect of money and other liabilities; 

  

	 	(c)	 any representation, warranty or undertaking by the Company hereunder is not complied with or proves to have
been or to be untrue or incorrect in any material respect when made or deemed to be made; 

  

	 	(d)	 any representation, warranty or undertaking by any of the Obligors under any Finance Documents is not complied
with or proves to have been or to be untrue or incorrect in any material respect when made or deemed to be made; 

  

	 	(e)	 the Company does not comply with any of the Company’s covenants or obligations under this Deed in any
material respect; 

  

	 	(f)	 any of the Obligors does not comply with any of its covenants and obligation under any Finance Documents in any
material respect; 

  

	 	(g)	 a petition is presented or an order is made or an effective resolution is passed or analogous proceedings are
taken for the winding up of the Company or any Obligor, save for the purposes of an amalgamation, merger or reconstruction the terms whereof have previously been approved by the Bank; 

  
 - 10 - 

	 	(h)	 the Company or any of the Obligors shall without the consent in writing of the Bank stop payment to creditors
when due nor within any originally applicable grace period or (if applicable) the Company or any of the Obligors shall (otherwise than for the purpose of such an amalgamation, merger or reconstruction as is referred to in Sub-Clause 7.1(g)) cease or threaten to cease to carry on its business or any substantial part thereof or shall be unable to pay its debts or disposes of the whole or a substantial part of its undertaking or assets;

  

	 	(i)	 there occurs a material adverse change in the Company’s or any Obligor’s financial condition which
would, in the reasonable opinion of the Bank, prevent the Company or any Obligor from performing in any material respect its obligations under this Deed or under any Finance Documents; 

 

	 	(j)	 the Company purports or attempts to create any Encumbrance over all or any part of the Inventories or any third
party asserts a reasonable and substantial claim in respect thereof (except as permitted under this Deed); 

  

	 	(k)	 the security hereby created or under any Finance Documents or any part thereof fails or ceases for any reason
to be in full force and effect or is terminated or jeopardised or becomes invalid or unenforceable or if there is any dispute regarding the same or if there is any purported termination of the same or it becomes impossible or unlawful for the
Company or any Obligor to perform any of its obligations hereunder or under any Finance Documents or for the Bank to exercise all or any of its rights, powers and remedies hereunder or under any Finance Documents; and 

 

	 	(l)	 a creditor takes possession of all or any part of the business or assets of the Company or any Obligor or any
execution or other legal process is enforced against the business or any asset of the Company and is not discharged within fourteen (14) days. 

  

	7.2	 If an Event of Default has occurred and is continuing, the Bank may: 

 

	 	(a)	 declare the Secured Indebtedness, all loans and other moneys, obligations and liabilities hereby secured to be,
whereupon they shall become, immediately due and payable without further demand, notice or other legal formality of any kind; 

  
 - 11 - 

	 	(b)	 declare the Credit Facility to be terminated whereupon all obligations of the Bank to make further advances to
the Company shall immediately cease; 

  

	 	(c)	 demand that the Company to provide cash cover to the Bank for all liabilities of the Company to the Bank,
whereupon the Company shall be under an immediate obligation to provide such cash cover; and 

  

	 	(d)	 in its absolute discretion enforce all or any part of this security in any manner it sees fit or as the Bank
direct including but limited to the sale and disposal of the Inventories at any price which the Bank may deem fit. The Company shall not have any right to claim against the Bank in respect of any loss arising out of any sale pursuant to this Charge
of Inventories in the absence of fraud, gross negligence or willful misconduct by the Bank, however such loss may have been caused and whether or not a better price could or might have been obtained on the sale of any of the Inventories by either
deferring or advancing the date of such sale or otherwise howsoever. 

  

	8.	 ENFORCEMENT 

  

	8.1	 Enforcement. Upon the occurrence of an Event of Default, the security hereby created shall become
enforceable in accordance with the provisions hereof. 

  

	8.2	 Powers of Bank. At any time after the security hereby created has become enforceable, the Bank may
exercise, without further notice and whether or not it shall have appointed a Receiver, all the powers and discretions hereby conferred either expressly or by implication on a Receiver (and in relation to express powers and discretions as if any
reference to the Receiver were a reference to the Bank) and all other powers conferred upon mortgagees by law or otherwise. 

  

	8.3	 Appointment of Receiver. At any time after the security hereby created has become enforceable, or if
requested by the Company, the Bank may in writing either under seal or under the hand of a duly authorised officer of the Bank, appoint any person or persons to be a Receiver of the Inventories and may from time to time fix his or their remuneration
and may remove any Receiver so appointed and appoint another in his place. Where more than one Receiver is so appointed, any reference to this Deed to a Receiver shall apply to any of the Receivers so appointed and the appointment shall be deemed to
be a joint and several appointment so that the rights, powers, duties and discretions vested in the Receiver may be exercised jointly by the Receivers so appointed or severally by each of them. 

  
 - 12 - 

	8.4	 Powers of Receiver. The Receiver shall be the agent of the Company and the Company shall be solely
responsible for the Receiver’s acts or defaults and for the Receiver’s remuneration and the Receiver shall, in addition to all powers conferred upon mortgagees or receivers by law or otherwise, have power (exercisable without further
notice) :- 

  

	 	(a)	 to take possession of, collect and get in and give receipts for the Inventories; 

 

	 	(b)	 to sell by public auction or private contract or otherwise dispose of or deal with the Inventories in such
manner, for such consideration and generally on such terms and subject to such conditions as the Receiver may reasonably think fit with full power to convey or otherwise transfer the Inventories in the name of the Company or other legal or
registered owner. Any consideration may be in the form of cash, debentures, shares, stock or other valuable consideration and may be payable immediately or by instalments spread over such period as the Receiver shall reasonably think fit and so that
any consideration received in a form other than cash shall forthwith on receipt be and become charged with the payment of the Secured Indebtedness; 

  

	 	(c)	 to insure and keep insured against loss or damage by such risks and contingencies as the Receiver may think fit
the Inventories of an insurable nature in such manner in all respects as the Receiver may think fit and to maintain, renew or increase any insurances in respect of the Inventories; 

 

	 	(d)	 to institute, prosecute and defend any proceedings in the name of the Company or otherwise as may seem
expedient in relation to the Inventories; 

  
 - 13 - 

	 	(e)	 to make and effect all repairs, renewals, alterations, improvements and developments to or in respect of the
Inventories; 

  

	 	(f)	 to make any arrangement, settlement or compromise or enter into any contracts which the Receiver shall
reasonably think expedient in relation to the Inventories in the interests of the Bank; 

  

	 	(g)	 for the purpose of exercising any of the powers, authorities and discretions conferred on him by or pursuant to
this Deed and of defraying any costs, charges, losses or expenses (including his remuneration) which shall be incurred by him in the exercise thereof or for any other purpose in connection herewith, to raise and borrow money either unsecured or on
the security of the Inventories either in priority to this Deed or otherwise and generally on such terms and conditions as he may reasonably think fit PROVIDED THAT :- 

 

	 	(i)	 no Receiver shall exercise such power without first obtaining the written consent of the Bank and the Bank
shall incur no liability to the Company or any other person by reason of its giving or refusing such consent whether absolutely or subject to any limitation or condition; and 

 

	 	(ii)	 no person lending such money shall be concerned to enquire as to the existence of such consent or the terms
thereof or as to the propriety or purpose of the exercise of such power or to see to the application of any money so raised or borrowed; 

  

	 	(h)	 to appoint managers, agents, officers, solicitors, accountants, auctioneers, brokers, architects, engineers,
workmen or other professional or non-professional advisers, agents or employees for any of the aforesaid purposes at such salaries or for such remuneration and for such periods as the Receiver may reasonably
determine and to dismiss any of the same or any of the existing staff of the Company and to delegate to any person any of the powers hereby conferred on the Receiver; 

 

	 	(i)	 in the exercise of any of the above powers to expend such sums as the Receiver may think fit and the Company
shall forthwith on demand repay to the Receiver all sums so expended together with interest thereon at such rates as hereinbefore mentioned from time to time of the same having been paid or incurred and until such repayment such sums together with
such interest shall be secured by this Deed; 

  
 - 14 - 

	 	(j)	 to have access to and make use of the premises and the accounting and other records of the Company and the
services of its staff for all or any of the purposes aforesaid; and 

  

	 	(k)	 to do all such other acts and things as may be considered by the Receiver to be incidental or conductive to any
of the matters or powers aforesaid or otherwise incidental or conductive to the realisation of the Bank’s security created by this Deed and which the Receiver may lawfully do and to use the name of the Company for all the purposes aforesaid.

  

	8.5	 No Restrictions on Power of Sale. No restrictions imposed by any ordinance or other statutory provision
relation to the exercise of any power of sale shall apply to this Deed. 

  

	8.6	 Receiver to Conform to Bank’s Directions. The Receiver shall in the exercise of the Receiver’s
powers, authorities and discretions conform to the directions and regulations from time to time given or made by the Bank. 

  

	8.7	 Powers to be Given Wide Construction. The powers of the Bank and the Receiver hereunder shall be
construed in the widest possible sense to the intent that the Bank and the Receiver shall be afforded as wide and flexible a range of powers as possible. 

  

	8.8	 No Liability to Account as Mortgagee in Possession. Nothing that shall be done by or on behalf of the
Bank shall render it liable to account as a mortgagee in possession for any sums other than actual receipts. 

  

	8.9	 No Liability for Losses. The Bank and the Receiver shall not be answerable for any losses, involuntary
or otherwise, which may arise in the exercise by the Bank or the Receiver of their respective powers hereunder. 

  

	8.10	 Purchaser Not Bound to Enquire. No purchaser or other person shall be bound or concerned to see or
enquire whether the right of the Bank or the Receiver to exercise any of the powers hereby conferred has arisen or not or be concerned with the propriety or regularity of the exercise thereof or be concerned with notice to the contrary or be
concerned or responsible for the application of any monies received by the Bank or the Receiver and the receipt of the Bank or the Receiver for any monies paid to it shall be a good and sufficient discharge to the person paying the same.

  
 - 15 - 

	9.	 APPLICATION OF RECEIPTS 

All monies received by the Bank or the Receiver hereunder shall be applied in or towards satisfaction of the Secured Indebtedness in such order
of priority as the Bank in its absolute discretion may determine (subject to the prior discharge of all liabilities having priority thereto by law) and subject to any such determination in the following order of priority :- 

 

	 	(a)	 In discharge of all charges, taxes and other outgoings whether governmental, municipal, contractual or
otherwise, due and affecting the Inventories or any part thereof (including storage charges); 

  

	 	(b)	 in payment or satisfaction of all costs, charges, expenses and liabilities incurred and payments made by or on
behalf of the Bank or the Receiver in connection with the exercise of any powers hereunder and in preserving or attempting to preserve this security or the Inventories and of all outgoings paid by the Bank or the Receiver; 

 

	 	(c)	 in payment to the Receiver of all remuneration as may be agreed between him and the Bank to be paid to him at,
or at any time after, his appointment; 

  

	 	(d)	 in payment or satisfaction of the remaining Secured Indebtedness (interest being satisfied first) or such part
thereof as the Bank may determine until the whole of the Secured Indebtedness shall have been certified by the Bank as having been discharged and so that if the Bank is contingently liable or will or might be so liable in respect of any monies,
obligations or liabilities hereby secured all monies not dealt with under the preceding provisions of this Clause shall be placed on deposit in such separate account as the Bank in its absolute discretion may think fit for the purpose of securing
the contingent liabilities of the Bank and shall become subject to this security, to be applied against such contingent liabilities as they fall due and the remaining balance (if any) shall be paid to the Company or other person entitled thereto.

  
 - 16 - 

	10.	 TAXES AND OTHER DEDUCTIONS 

All sums payable by the Company under this Deed shall be paid in full without set-off or counterclaim
or any restriction or condition and free and clear of any tax or other deductions or withholdings of any nature. If the Company is required by any law or regulation to make any deduction or withholding (on account of tax or otherwise) from any
payment for the account of the Bank, the Company shall, together with such payment, pay such additional amount as will ensure that the Bank receives (free and clear of any tax or other deductions or withholdings) the full amount which it would have
received if no such deduction or withholding had been required. The Company shall promptly forward to the Bank copies of official receipts or other evidence showing that the full amount of any such deduction or withholding has been paid over to the
relevant taxation or other authority. 
  

	11.	 COSTS, CHARGES AND EXPENSES 

The Company shall from time to time forthwith on demand pay to or reimburse the Bank or the Receiver for :- 

 

	 	(a)	 all costs, charges and expenses (including legal and other fees on a full indemnity basis) incurred by the Bank
or the Receiver in connection with the preparation, execution and registration of this Deed and in exercising any of its or their rights or powers hereunder or in suing for or seeking to recover any sums due hereunder or otherwise preserving or
enforcing its or their rights hereunder or in connection with the preservation or attempted preservation of the Inventories or in defending any claims brought against it or them in respect of this Deed or in releasing or re-assigning this Deed upon payment of all monies hereby secured; and 

  

	 	(b)	 all reasonable remuneration payable to the Receiver; 

and until payment of the same in full, all such costs, charges, expenses and remuneration shall be secured by this Deed. 

 

	12.	 INDEMNITY 

  

	12.1	 General Indemnity. The Company shall indemnify the Bank and the Receiver against all reasonable losses,
liabilities, damages, costs and expenses incurred by it or them in the execution or performance of the terms and conditions hereof and against all actions, proceedings, claims, demands, costs, charges and expenses which may be reasonably incurred,
sustained or arise in respect of the non-performance or non-observance of any of the undertakings and agreements on the part of the Company herein contained or in
respect of any matter or thing done or omitted relating in any way whatsoever to the Inventories. 

  
 - 17 - 

	12.2	 Payment of Security. The Bank may retain and pay out of any money in the Bank’s hands all sums
necessary to effect the indemnity contained in this Clause and all sums payable by the Company under this Clause shall form part of the monies hereby secured. 

 

	13.	 FURTHER ASSURANCE 

 

	13.1	 Further Assurance. The Company shall at any time and from time to time (whether before or after the
security hereby created shall have become enforceable) execute such further legal or other mortgages, charges or assignments and do all such transfers, assurances, acts and things as the Bank may require over or in respect of all or any of the
undertaking, property, assets and rights both present and future of the Company to secure all monies, obligations and liabilities hereby covenanted to be paid or hereby secured or for the purposes of perfecting and completing any assignment of the
Bank’s rights, benefits or obligations hereunder and the Company shall also give all notices, orders and directions which the Bank may require. 

  

	13.2	 Enforcement of the Bank’s Rights. The Company will do or permit to be done everything which the
Bank may from time to time require to be done for the purpose of enforcing the Bank’s rights hereunder and will allow the name of the Company to be used as and when required by the Bank for that purpose. 

 

	14.	 POWER OF ATTORNEY 

The Company irrevocably appoints the Bank, the Receiver and any persons deriving title under either of them by way of security jointly and
severally to be its attorney (with full power of substitution) and in its name or otherwise on its behalf and as its act and deed to sign, seal, execute, deliver, perfect and do all deeds, instruments, acts and things which may be required or which
the Bank or the Receiver shall reasonably think proper or expedient for carrying out any obligations imposed on the Company hereunder or for exercising any of the powers hereby conferred or in connection with any sale or disposition of the
Inventories or the exercise of any rights in respect thereof or for giving to the Bank the full benefit of this security and so that the appointment hereby made shall operate to confer on the Bank and the Receiver authority to do on behalf of the
Company anything which it can lawfully do itself. The Company ratifies and confirms and agrees to ratify and confirm any deed, instrument, act or thing which such attorney or substitute may execute or do. 

  
 - 18 - 

	15.	 SUSPENSE ACCOUNT 

The Bank may, notwithstanding the provisions of Clause 9, place and keep any monies received by virtue of this Deed (whether before or after
the insolvency or liquidation of the Company) to the credit of a non-interest bearing suspense account for so long as the Bank may think fit in order to preserve the rights of the Bank to sue or prove for the
whole amount of its claims against the Company or any other person. 
  

	16.	 WAIVER AND SEVERABILITY 

No failure or delay by the Bank in exercising any right, power or remedy hereunder shall impair such right, power or remedy or operate as a
waiver thereof, nor shall any single or partial exercise of the same preclude any further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies herein provided are cumulative and do not exclude any
other rights, powers and remedies provided by law. If at any time any provision of this Deed is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, the legality, validity and enforceability of such
provision under the law of any other jurisdiction, and of the remaining provisions of this Deed, shall not be affected or impaired thereby. 
  

	17.	 MISCELLANEOUS 

 

	17.1	 Continuing obligation. The liabilities and obligations of the Company under this Deed shall remain in
force notwithstanding any act, omission, event or circumstances whatsoever, until full, proper and valid payment of the Secured Indebtedness. 

  

	17.2	 Protective Clauses. Without limiting Clause 17.1, neither the liability of the Company nor the validity
or enforceability of this Deed shall be prejudiced, affected or discharged by :- 

  

	 	(a)	 any other Encumbrance, guarantee or other security or right or remedy being or becoming held by or available to
the Bank or by any of the same being or becoming wholly or partly void, voidable, unenforceable or impaired or by the Bank at any time releasing, refraining from enforcing, varying or in any other way dealing with any of the same or any power, right
or remedy the Bank may now or hereafter have from or against the Company or any other person or the granting of any time or indulgence to the Company or any other person; 

  
 - 19 - 

	 	(b)	 any variation or modification of the Facility Agreement or security document to which the Company is a party or
any Finance Document; 

  

	 	(c)	 the invalidity or unenforceability of any obligation or liability of the Company under any facility letter or
security document to which it is a party or any Finance Document; 

  

	 	(d)	 any invalidity or irregularity in the execution of this Deed or any loan agreement or other security document
or any deficiency in the powers of the Company to enter into or perform any of its obligations hereunder or under any loan agreement or other security document to which it is a party or any Finance Document; or 

 

	 	(e)	 any act, omission, event or circumstance which would or may but for this provision operate to prejudice, affect
or discharge this Deed or the liability of the Company hereunder. 

  

	17.3	 Unrestricted Right of Enforcement. This Deed may be enforced without the Bank first having recourse to
any other security or rights or taking any other steps or proceedings against the Company or any other person or may be enforced for any balance due after resorting to any one or more other means of obtaining payment or discharge of the monies
obligations and liabilities hereby secured. 

  

	17.4	 Discharges and Releases. Notwithstanding any discharge, release or settlement from time to time between
the Bank and the Company, if any security disposition or payment granted or made to the Bank in respect of the Secured Indebtedness by the Company or any other person is avoided or set aside or ordered to be surrendered, paid away, refunded or
reduced by virtue of any provision, law or enactment relating to bankruptcy, insolvency, liquidation, winding-up, composition or arrangement for the time being in force or for any other reason, the Bank shall
be entitled hereafter to enforce this Deed as if no such discharge, release or settlement had occurred. 

  

	17.5	 Amendment. Any amendment or waiver of any provision of this Deed and any waiver of any default under
this Deed shall only effective if made in writing and executed by the Bank. 

  
 - 20 - 

	18.	 ASSIGNMENT 

  

	18.1	 The Company. The Company shall not assign any of its rights hereunder. 

 

	18.2	 The Bank. The Bank may assign all or any part of its rights under this Deed. 

 

	19.	 NOTICES AND SERVICE OF PROCEEDINGS 

 

	19.1	 Any notice, request, certificate, demand or other communication required to be given by any party hereto to the
other parties hereto shall be in writing and shall be deemed to have been so given if addressed to the addressee at its address in Hong Kong herein mentioned or to such other address in Hong Kong as may have been notified in writing by such party to
the other parties hereto in accordance with this Clause 19.1. 

  

	19.2	 Any notice, request, certificate, demand or other communication delivered personally shall be deemed to have
been given at the time of such delivery. Any notice, request, certificate, demand or other communication dispatched by letter postage prepaid shall be deemed to have been given forty eight (48) hours after posting. Any notice, request,
certificate, demand or other communication sent by telex or facsimile transmission shall be deemed to have been given at the time of dispatch and any notice, request, certificate, demand or other communication sent by cable shall be deemed to have
been given twenty four (24) hours after dispatch. Provided always that any notice, request, certificate, demand or other communication to be given by the Company to the Bank shall only be effective upon actual receipt thereof by the Bank (as
the case may be). 

  

	19.3	 Any legal process including any writ or originating summons or otherwise and any other summons or notice to be
served on a party by the other party hereto in any legal proceeding or action in any court or tribunal shall be deemed to be sufficiently and duly served forty-eight (48) hours after having been left or sent by ordinary pre-paid post to the addressee’s registered office or usual place of business in Hong Kong and in proving service it shall be sufficient to prove that the legal process or summons or notice was properly
addressed and posted or properly left (as the case may be) irrespective of whether the same is returned through the post undelivered to the addressee. 

  
 - 21 - 

	20.	 SET OFF AND LIEN 

The Company agrees that the Bank shall (without prejudice to any general or banker’s lien, right of
set-off or any other right to which it may be entitled) have the right, without notice to the Company or any other person, at any time to set off and apply any credit balance on any account (whether subject to
notice or not and whether matured or not and in whatever currency) of the Company with the Bank and any other indebtedness owing by the Bank to the Company, against any moneys, obligations and liabilities of the Company to the Bank on any account or
in any other respect whether actual or contingent and the Bank is authorized to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary for this purpose. Until payment in full of the Secured
Indebtedness the Bank shall, in addition to any other rights and remedies, have a lien on all property and assets of the Company from time to time in the possession of or registered in the name of the Bank or its nominees (including but not limited
to all stocks, shares and marketable or other securities) whether such property and assets are held for safe custody or otherwise. 
  

	21.	 CURRENCY CONVERSION 

 

	21.1	 For the purpose of or pending the discharge of any of the Secured Indebtedness, the Bank may convert any moneys
received, recovered or realized under this Deed (including the proceeds of any previous conversion under this Clause) from their existing currency of denomination into such other currency of denomination as the Bank may think fit and any such
conversion shall be effected at the then prevailing spot selling rate of exchange for such other currency against the existing currency quoted by the Bank. Each previous reference in this Clause to a currency extends to funds of that currency and
for the avoidance of doubt, funds of one currency may be converted into different funds of the same currency. 

  

	21.2	 No payment to the Bank (whether under any judgment or court order or otherwise) shall discharge the
Company’s obligation or liability in respect of which it was made unless and unitl the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent the amount of any such payment
shall on actual conversion into such currency fall short of such obligation or liability expressed in that currency, the Bank shall have a further separate cause of action against the Company and shall be entitled to enforce the security hereby
created to recover the amount of the shortfall. The Company hereby agrees to fully indemnify the Bank in this respect. 

  
 - 22 - 

	22.	 GOVERNING LAW AND JURISDICTION 

 

	22.1	 Law. This Deed and the rights and obligations of the parties hereunder shall be governed by and
construed in accordance with the laws of Hong Kong. 

  

	22.2	 Jurisdiction. The Company agrees that any legal action or proceeding arising out of or relating to this
Deed may be brought in the courts of Hong Kong Special Administrative Region and irrevocably submits to the non-exclusive jurisdiction of such courts. 

 

	22.3	 No Limitation on Right of Action. Nothing herein shall limit the right of the Bank to commence any legal
action against the Company and/or its property in any other jurisdiction or to serve process in any manner permitted by law, and the taking of proceedings in any jurisdiction shall not preclude the taking of proceedings in any other jurisdiction
whether concurrently or not. 

  

	22.4	 Process Agent. The Company irrevocably appoints [name] whose registered office is situate at
[address] to receive for it and on its behalf, service of process in any proceedings in Hong Kong. Such service shall be deemed completed on delivery to the process agent (whether or not it is forwarded to and received by the Company or the
Borrowers). If for any reason the process agent ceases to be able to act as such or no longer has an address in Hong Kong, the Company irrevocably agrees to appoint a substitute process agent acceptable to the Bank, and to deliver to the Bank a copy
of the new agent’s acceptance of that appointment within thirty (30) days. Nothing herein shall affect the right to serve any process in any other manner permitted by law. 

 

	23.	 MISCELLANEOUS 

 

	23.1	 Legal Representation: The parties acknowledge that Messrs. Li, Wong, Lam & W.I. Cheung acts as
legal counsel of the Bank only relating to this Deed. The Company will take separate legal advice as it sees fit. 

  

	23.2	 Third Party Rights: Nothing contained herein is intended to grant to any third party any right to
enforce any term hereof or to confer on any third party any right or benefit hereunder for the purposes of the Contracts (Rights of Third Parties) Ordinance and any enactment thereof and the application of the said Ordinance is expressly
excluded.  

  
 - 23 - 

 IN WITNESS whereof this Deed has been duly executed the day and year first above written. 

 

					
	 SEALED with the COMMON SEAL

of the Company and SIGNED by
  

duly authorized by the Board of
 Directors, in the presence
of :-
	  	 )
 )

)
 )

)
	  	  
 /s/ Qingchun Zeng

 [Signature Page] 

 DATED the 23rd day of November 2018 

Import It Corp. 
 to 

Taipei Fubon Commercial Bank Co., Ltd. 

**************************************************** 

DEED OF CHARGE 
 OF
INVENTORIES 
 **************************************************** 

     

     
 §§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§ 
 LI, WONG, LAM & W.I. CHEUNG

 SOLICITORS & NOTARIES 

22/F., INFINITUS PLAZA, 

199 DES VOEUX ROAD CENTRAL, 

HONG KONG 
  

                       
                                         
                 
 Ref. :
033/93398/18/COMM/B/033/147 

  
 - 25 - 

 THIS DEED OF CHARGE OF INVENTORIES is made the [25] day of [Oct] 2018 

BETWEEN 
  

	(1)	 ECMOHO (Hong Kong) Limited, registration no. 2218839, a company incorporated under the laws of Hong Kong
whose registered office is situated at Flat 9, 4/F, Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong (“the Company”); and 

 

	(2)	 Taipei Fubon Commercial Bank Co., Ltd., Hong Kong Branch whose principal place of business in Hong Kong
is situated at 16/F, K11 Atelier, Victoria Dockside, 18 Salisbury Road, Tsim Sha Tsui, Kowloon, Hong Kong (“the Bank”). 

WHEREAS: 
  

	(A)	 By a facility letter (“Facility Agreement”) dated [18 Oct] 2018 issued by the Bank to the Company and
Import It Corp. (collectively “the Borrowers”) and duly executed by them, the Bank agreed to provide to the Borrowers revolving credit facility to the extent of USD25,000,000.00. 

 

	(B)	 It is a condition (amongst others) of the Facility Agreement that a floating charge of the Inventories (as
hereinafter defined) be provided by the Company in favour of the Bank as security for Secured Indebtedness (as hereinafter defined). 

NOW THIS DEED WITNESSES as follows: 
  

	1.	 INTERPRETATION 

 

	1.1	 Definitions and construction. In this Deed, unless the context requires otherwise:

 “Approved Storage Areas” means godown, warehouses and demarcated spaces in which the Inventories shall
be stored from time to time with the prior written approval of the Bank; 
 “Borrowers” means the Company and Import It Corp
collectively and “Borrower” means any of them and where the context requires includes their respective successors and assigns; 

“Charge of Inventories (2)” means a first legal floating charge of Inventories (as therein defined) to be provided by Import
It Corp. in favour of the Chargee as security for Secured Indebtedness. 

  
 - 1 - 

 “Charge Over Bank Account” means (i) a first legal fixed and floating
charge over Bank Account (as defined therein) to be provided by the Company in favour of the Bank as security for Secured Indebtedness and (ii) a first legal fixed and floating charge over Bank Account (as defined therein) to be provided by
Import It Corp. in favour of the Bank as security for Secured Indebtedness; “Charge over Receivables” means (i) a first legal fixed and floating charge over the Receivables (as defined therein) to be provided by the Company in
favour of the Bank as security for Secured Indebtedness and (ii) a first legal fixed and floating charge over the Receivables (as defined therein) to be provided by Import It Corp. in favour of the Bank as security for Secured Indebtedness;
“Credit Facility” means the revolving credit facility to the extent of USD25,000,000.00 to be provided by the Bank to the Borrowers under the Facility Agreement; 

“Deed” means this deed of charge of inventories including its amendments, supplements and replacements; 

“Encumbrance” means: 
  

	 	(i)	 any mortgage, charge, pledge, lien, encumbrance, hypothecation or other security interest or security
arrangement of any kind; 

  

	 	(ii)	 any arrangement whereby any rights are subordinated to any rights of any third party; and

  

	 	(iii)	 any contractual right of set-off; 

“Event of Default” means any event specified as such in Clause 7 and “prospective Event of Default” means any
event which with the giving of notice and/or the passage of time and/or the fulfillment of any other condition would be an Event of Default; 

“Facility Agreement” means the facility letter dated [18 Oct] 2018 issued by the Bank to the Borrowers relating to the Credit
Facility and including its amendments, supplements and replacements; 
 “Finance Documents” means the Facility Agreement,
this Deed, the Guarantees, the Charge over Bank Account, the Charge over Receivables, the Charge of Inventories (2), Share Charges and all other securities and documents relating to the Credit Facility and “Finance Document” mean
any of them; 

  
 - 2 - 

 “Guarantees” means (i) collectively the guarantee to be provided by
ECMOHO (Hong Kong) Health Technology Limited in favour of the Bank as security for all liabilities due by the Borrowers to the Bank to the extent of USD25,000,000.00 and interest, costs and expenses; and (ii) the guarantee to be provided by
ECMOHO Limited in favour of the Bank as security for all liabilities due by the Borrowers to the Bank to the extent of USD25,000,000.00 and interest, costs and expenses; 

“Hong Kong” means Hong Kong Special Administrative Region of PRC;  

“Inventories” means (i) all raw materials, works in process and finished goods both present and future owned by the
Company or to which the Company is entitled and whether in transit or in storage (ii) documents of title, warehouse keeper receipts, certificates of deposit relating to them, (iii) sale proceeds relating to them; and (iv) insurance
proceeds relating to them; 
 “Obligors” means all parties to the Finance Documents other than the Bank and
“Obligor” means any one of them; 
 “PRC” means The People’s Republic of China; 

“Receiver” means any receiver, manager, receiver and manager or other similar officer appointed by the Bank in respect of the
security hereby granted;  
 “Secured Indebtedness” means all moneys, obligations and liabilities whether actual or
contingent now or hereafter due owing or incurred to the Bank by any of the Obligors under Finance Documents in whatever currency denominated and whether alone or jointly and whether as principal or surely when the same are due and including all
costs and expenses incurred by the Bank relating thereto on a full indemnity basis; 
 “Share Charges” means (i) the
first fixed legal charge of 18,787,600 Class B Ordinary Shares of ECMOHO Limited held by Behealth Limited in favour of the Bank as security for Secured Indebtedness; and (ii) the first fixed legal charge of 18,787,600 Class B Ordinary
Shares of ECMOHO Limited held by Uhealth Limited in favour of the Bank as security for Secured Indebtedness; and “USD” means United States Dollar, the lawful currency of the United States of America. 

 

	1.2	 Successors and Assigns. The expressions “Company” and “Bank” shall where the context
permits include their respective successors and permitted assigns and any persons deriving title under them. 

  
 - 3 - 

	1.3	 Miscellaneous. In this Deed, unless the context requires otherwise, references to statutory provisions
shall be construed as references to those provisions as replaced, amended, modified or re-enacted from time to time; words importing the singular include the plural and vice versa and words importing a gender
include every gender, references to this Deed or any other security document shall be construed as references to such document as the same may be amended or supplemented from time to time; unless otherwise stated, references to Clauses and Schedules
are to clauses and schedules of this Deed, and reference to person shall include an individual firm company corporation and an unincorporated body of persons. Clause headings are inserted for reference only and shall be ignored in construing this
Deed. 

  

	2.	 COVENANT TO PAY 

The Company hereby covenants that it will on demand pay to the Bank the Secured Indebtedness and discharge all moneys obligations and
liabilities whether actual or contingent now or hereinafter due owing or incurred to the Bank by the Obligors under the Finance Documents in whatever currency denominated and whether alone or jointly and in whatever style name or form and whether as
principal or surety when the same are due including all costs and expenses incurred by the Bank relating thereto on a full indemnify basis.. 
  

	3.	 CHARGE 

  

	3.1	 Charge. The Company as legal and beneficial owner hereby charges to the Bank the Inventories by way of
first floating charge as a continuing security for the payment and discharge of the Secured Indebtedness Provided That upon payment and discharge of the entire Secured Indebtedness the Bank shall, at the request and costs of the Company, release the
Inventories hereby charged. 

  

	3.2	 Conversion of Floating Charge. 

 

	 	(a)	 The Bank may, upon the occurrence of an Event of Default or a prospective Event of Default, by serving a notice
in writing on the Company, convert the floating charge hereby created into a fixed charge as regards any property, assets or rights specified in that notice. 

  
 - 4 - 

	 	(b)	 Without prejudice to the effect of this Clause, if the Company mortgages, charges, pledges or otherwise
encumbers (whether by way of fixed or floating charge or otherwise howsoever) any of the Inventories or attempts to do so without the prior consent in writing of the Bank, or is otherwise in breach of any of the provisions in Clause 6, or if any
person levies or attempts to levy any distress, execution or sequestration or other process against all or any of the Inventories on the occurrence of any of such events, the floating charge created under Clause 3.1 shall automatically and
immediately, without any notice from the Bank or any other formality or process whatsoever, crystallize and operate as a fixed charge as regards the Inventories. 

 

	4.	 CONTINUING SECURITY 

This Deed shall be a continuing security and shall remain in full force and effect until the day the Secured Indebtedness has been paid in full
notwithstanding the insolvency or liquidation or any incapacity or change in the constitution or status of the Company or any other Obligors or any intermediate settlement of account or other matter whatsoever. This Deed is in addition to, and
independent of, any charge, guarantee or other security or right or remedy now or at any time hereafter held by or available to the Bank. 
  

	5.	 REPRESENTATIONS AND WARRANTIES 

 

	5.1	 Representations and Warranties. The Company represents and warrants to the Bank that:

  

	 	(a)	 the Inventories are or when acquired will be legal and beneficially owned by the Company free from any
Encumbrances except for the charge created under or pursuant to this Deed; 

  

	 	(b)	 no litigation, arbitration or administrative proceeding is currently taking place or pending or threatened in
relation to the Inventories; 

  

	 	(c)	 it has the power and has obtained the requisite authority to enter into this Deed and to perform its
obligations (including but not limited to the passing of the required board resolution of the Company; 

  

	 	(d)	 its entry into and/or performance of or compliance with its obligations under this Deed do not and will not
violate any law to which it is subject or any of the documents constituting it or agreement or arrangement to which it is a party; 

  

	 	(e)	 this Deed constitutes the legal, valid and binding obligations of the Company enforceable in accordance with
its terms; 

  
 - 5 - 

	 	(f)	 no Event of Default or prospective Event of Default has occurred; and 

 

	 	(g)	 all financial and other information supplied to the Bank in connection with this Deed is correct, true and
accurate in all respects and the Company is not aware of any fact which has not been disclosed in writing to the Bank which might have a material effect on any such information or which might affect the willingness of the Bank to grant any facility
to the Company. 

  

	5.2	 Continuing Representations and Warranties. The Company also represents and warrants to and undertakes
with the Bank that the foregoing representations and warranties will be true and accurate throughout the continuance of this Deed with reference to the facts and circumstances subsisting at the relevant time. 

 

	6.	 UNDERTAKINGS 

  

	6.1	 Affirmative undertakings relating to Inventories. The Company undertakes and agrees with the Bank
throughout the continuance of this Deed and so long as the Secured Indebtedness or any part thereof remains owing that the Company will, unless the Bank otherwise agree in writing: 

 

	 	(a)	 keep all Inventories at Approved Storage Areas only in good order, repair and conditions;

  

	 	(b)	 procure that all Inventories kept at Approved Storage Areas be subject to adequate supervision, monitoring and
control; 

  

	 	(c)	 keep all Intangibles insured for full value against all insurable risk (including fire, flood, other natural
calamities or acts of god, burglary, theft, riots, strikes and malicious damage) as may be reasonably required by the Bank and procure that such insurance policies shall be endorsed in the name of the Bank as loss payee; 

 

	 	(d)	 promptly pay all taxes fees and other governmental fees relating to the Inventories under applicable laws;

  

	 	(e)	 promptly pay all fees relating to the storage and other services in respect of the Inventories;

  

	 	(f)	 permit and provide the Bank’s authorized representatives or agents access to Approved Storage Areas to
conduct such inspections, verifications and checks on the quality, quantity and condition of the Inventories as the Bank may request at its sole discretion; 

  
 - 6 - 

	 	(g)	 procure that inventory reports relating to Inventories kept at Approved Storage Areas to be provided to the
Bank on monthly basis or on any other duration of time as determined by the Bank from time to time; 

  

	 	(h)	 at the written request of the Bank, procure that collateral managers appointed by the Bank shall take control
over the Inventories kept at Approved Storage Areas and take such actions as may be necessary to facilitate the vesting of such control in the collateral managers so appointed; 

 

	 	(i)	 promptly report to the Bank any incident which may cause damage and loss of Inventories whether in transit or
in storage and take necessary actions to prevent or limit such damage or loss; 

  

	 	(j)	 deliver to the Bank all documents of title, warehouse keepers’ receipts and certificate of deposit
relating to the Inventories upon written request by the Bank; and 

  

	 	(k)	 ensure that all Inventories are separately stored and not commingled with other materials and goods and can be
readily identified and retrievable. 

  

	6.2	 Affirmative undertakings in general. The Company undertakes and agrees with the Bank throughout the
continuance of this Deed and so long as the Secured Indebtedness or any part thereof remains owing that the Company will, unless the Bank otherwise agree in writing: 

 

	 	(a)	 conduct and carry on its business in a proper and efficient manner and keep or cause to be kept proper books of
accounts relating to such business; 

  

	 	(b)	 get in and realize all book and other debts and claims as they fall due and not charge or dispose of and
(except in its ordinary course of business) not release exchange compound set off or grant time or indulgence in respect of all or any of the same; 

  

	 	(c)	 observe and perform all covenants and stipulations from time to time affecting its patents, patent
applications, trade marks, trade names, registered designs and copyrights and all other industrial or intangible property or any license or ancillary or connected rights from time to time relating to industrial or intangible property and preserve
maintain and renew when necessary or desirable all such licenses and rights; 

  
 - 7 - 

	 	(d)	 keep the Company’s undertaking or any part thereof insured (whenever required by the Bank to do so) in the
name of the Company (with the Bank’s interest as mortgagee noted on the policy except in relation to policy for third party or public liability) and with a clause to ensure payment of any loss to the Bank except in relation to payment of any
loss to third parties in the full replacement value thereof, with an insurance company arranged by such reputable insurance company as shall have been previously approved in writing by the Bank against such loss or damage as are normally maintained
by prudent companies carrying on similar business, and duly pay and discharge all premiums and other moneys necessary for effecting and keeping up such insurances, and produce to and deposit with the Bank the policies of such insurance or the cover
note in relation thereto and sufficient evidence of such payments, failing which the Bank may take out or renew such insurances in any sum which the Bank may think expedient, and all moneys expended by the Bank under this subclause shall be
reimbursed by the Company on demand and bear interest at the default rate to be charged by the Bank and from the time of the same having been expended and until such payment the same shall be deemed part of the Secured Indebtedness and shall be
recoverable accordingly. All moneys to be received by virtue of any insurance maintained or effected by the Company (whether or not in pursuance of the Company’s obligations hereunder) shall be applied in replacing, restoring or reinstating the
undertaking property or assets destroyed or damaged and any deficiency being made good by the Company; 

  

	 	(e)	 at the request of the Bank, direct the Company’s debtors to make payment into such account in the name of
the Company with the Bank as may be designated by the Bank; 

  

	 	(f)	 furnish to the Bank copies of the audited balance sheet and profit and loss account of the Company within the
prescribed period required by the Bank after the end of each accounting year; 

  

	 	(g)	 permit the Bank or any other person appointed by it at all reasonable times to have access to all books of
account, financial records and documents kept by the Company; 

  
 - 8 - 

	 	(h)	 promptly inform the Bank of:- 

 

	 	(i)	 the occurrence of any Event of Default or prospective Event of Default; 

 

	 	(ii)	 any litigation, arbitration or administrative proceeding brought against the Company; 

 

	 	(i)	 punctually pay and discharge all debts and obligations which by law have priority over the security hereby
constituted; 

  

	 	(j)	 punctually pay all sums due from it to the Bank and otherwise comply with its obligations under this Deed;

  

	 	(k)	 cause the Company’s undertaking or any part thereof to be valued by a duly qualified valuer, approved in
writing by the Bank, at such times and from time to time and for such purposes and on such bases as the Bank may require; 

  

	 	(l)	 comply with all governmental or other legal requirements and notices, whether statutory or otherwise, in
respect of the Undertaking or any part thereof; and 

  

	 	(m)	 permit the Bank or any other person appointed by it at all reasonable times to have access to and view the
state of repair and condition of the Company’s undertaking or any part thereof without such person by so doing, being deemed to have taken possession of the Company’s undertaking or any part thereof. 

 

	6.3	 Negative Undertakings. The Company undertakes and agrees with the Bank throughout the continuance of this Deed
and so long as the Secured Indebtedness or any part thereof remains owing that the Company will not, unless the Bank otherwise agree in writing: 

  

	 	(a)	 sell, lend, transfer, part with possession of or otherwise assign, deal with or dispose of or grant any option
over the Inventories or any interest therein or attempt or agree to do any of the same except for the manufacture and sale of Inventories in the ordinary course of business of the Company; 

  
 - 9 - 

	 	(b)	 create or attempt or agree to create or permit to arise or exist any Encumbrance over the Inventories or any
interest therein (except for Prior Charge (if any) and under or pursuant to this Deed) and no Encumbrance purported to be created in breach of this restriction shall take priority over or rank pari passu with the Bank’s securities provided
under this Deed; and 

  

	 	(c)	 do or cause or permit to be done anything which may in any way depreciate, jeopardise or otherwise prejudice
the value of the Bank’s security hereunder. 

  

	7.	 EVENTS OF DEFAULT 

 

	7.1	 Each of the following events shall be an Event of Default:- 

 

	 	(a)	 any of the Borrowers makes default in the payment on the due date and in accordance with the terms and
conditions under Facility Agreement of any principal or interest or other moneys outstanding and payable by the Company to the Bank (whether demanded or not); or 

 

	 	(b)	 any of the Obligors make default in the payment on the due date and in accordance with the terms and conditions
relating thereto under any Finance Documents in respect of money and other liabilities; 

  

	 	(c)	 any representation, warranty or undertaking by the Company hereunder is not complied with or proves to have
been or to be untrue or incorrect; 

  

	 	(d)	 any representation, warranty or undertaking by any of the Obligors under any Finance Documents is not complied
with or proves to have been or to be untrue or incorrect; 

  

	 	(e)	 the Company does not comply with any of the Company’s covenants or obligations under this Deed;

  

	 	(f)	 any of the Obligors does not comply with any of its covenants and obligation under any Finance Documents;

  

	 	(g)	 a petition is presented or an order is made or an effective resolution is passed or analogous proceedings are
taken for the winding up of the Company or any Obligor, save for the purposes of an amalgamation, merger or reconstruction the terms whereof have previously been approved by the Bank; 

  
 - 10 - 

	 	(h)	 the Company or any of the Obligors shall without the consent in writing of the Bank stop payment to creditors
generally or (if applicable) the Company or any of the Obligors shall (otherwise than for the purpose of such an amalgamation, merger or reconstruction as is referred to in Sub-Clause 7.1(g)) cease or threaten
to cease to carry on its business or any substantial part thereof or shall be unable to pay its debts or disposes the whole or a substantial part of its undertaking or assets; 

 

	 	(i)	 there occurs a material adverse change in the Company’s or any Obligor’s financial condition which
would, in the reasonable opinion of the Bank, prevent the Company or any Obligor from performing in any material respect its obligations under this Deed or under any Finance Documents; 

 

	 	(j)	 the Company purports or attempts to create any Encumbrance over all or any part of the Inventories or any third
party asserts a reasonable and substantial claim in respect thereof (except as permitted under this Deed); 

  

	 	(k)	 the security hereby created or under any Finance Documents or any part thereof fails or ceases for any reason
to be in full force and effect or is terminated or jeopardised or becomes invalid or unenforceable or if there is any dispute regarding the same or if there is any purported termination of the same or it becomes impossible or unlawful for the
Company or any Obligor to perform any of its obligations hereunder or under any Finance Documents or for the Bank to exercise all or any of its rights, powers and remedies hereunder or under any Finance Documents; and 

 

	 	(l)	 a creditor takes possession of all or any part of the business or assets of the Company or any Obligor or any
execution or other legal process is enforced against the business or any asset of the Company and is not discharged within seven (7) days. 

  

	7.2	 If an Event of Default has occurred, the Bank may: 

 

	 	(a)	 declare the Secured Indebtedness, all loans and other moneys, obligations and liabilities hereby secured to be,
whereupon they shall become, immediately due and payable without further demand, notice or other legal formality of any kind; 

  

	 	(b)	 declare the Credit Facility to be terminated whereupon all obligations of the Bank to make further advances to
the Company shall immediately cease; and 

  

	 	(c)	 demand that the Company to provide cash cover to the Bank for all liabilities of the Company to the Bank,
whereupon the Company shall be under an immediate obligation to provide such cash cover. 

  
 - 11 - 

	8.	 ENFORCEMENT 

  

	8.1	 Enforcement. Upon the occurrence of an Event of Default, the security hereby created shall become
enforceable in accordance with the provisions hereof. 

  

	8.2	 Powers of Bank. At any time after the security hereby created has become enforceable, the Bank may
exercise, without further notice and whether or not it shall have appointed a Receiver, all the powers and discretions hereby conferred either expressly or by implication on a Receiver (and in relation to express powers and discretions as if any
reference to the Receiver were a reference to the Bank) and all other powers conferred upon mortgagees by law or otherwise. 

  

	8.3	 Appointment of Receiver. At any time after the security hereby created has become enforceable, or if
requested by the Company, the Bank may in writing either under seal or under the hand of a duly authorised officer of the Bank, appoint any person or persons to be a Receiver of the Inventories and may from time to time fix his or their remuneration
and may remove any Receiver so appointed and appoint another in his place. Where more than one Receiver is so appointed, any reference to this Deed to a Receiver shall apply to any of the Receivers so appointed and the appointment shall be deemed to
be a joint and several appointment so that the rights, powers, duties and discretions vested in the Receiver may be exercised jointly by the Receivers so appointed or severally by each of them. 

 

	8.4	 Powers of Receiver. The Receiver shall be the agent of the Company and the Company shall be solely
responsible for the Receiver’s acts or defaults and for the Receiver’s remuneration and the Receiver shall, in addition to all powers conferred upon mortgagees or receivers by law or otherwise, have power (exercisable without further
notice):- 

  

	 	(a)	 to take possession of, collect and get in and give receipts for the Inventories; 

  
 - 12 - 

	 	(b)	 to sell by public auction or private contract or otherwise dispose of or deal with the Inventories in such
manner, for such consideration and generally on such terms and subject to such conditions as the Receiver may reasonably think fit with full power to convey or otherwise transfer the Inventories in the name of the Company or other legal or
registered owner. Any consideration may be in the form of cash, debentures, shares, stock or other valuable consideration and may be payable immediately or by instalments spread over such period as the Receiver shall reasonably think fit and so that
any consideration received in a form other than cash shall forthwith on receipt be and become charged with the payment of the Secured Indebtedness; 

  

	 	(c)	 to insure and keep insured against loss or damage by such risks and contingencies as the Receiver may think fit
the Inventories of an insurable nature in such manner in all respects as the Receiver may think fit and to maintain, renew or increase any insurances in respect of the Inventories; 

 

	 	(d)	 to institute, prosecute and defend any proceedings in the name of the Company or otherwise as may seem
expedient in relation to the Inventories; 

  

	 	(e)	 to make and effect all repairs, renewals, alterations, improvements and developments to or in respect of the
Inventories; 

  

	 	(f)	 to make any arrangement, settlement or compromise or enter into any contracts which the Receiver shall
reasonably think expedient in relation to the Inventories in the interests of the Bank; 

  

	 	(g)	 for the purpose of exercising any of the powers, authorities and discretions conferred on him by or pursuant to
this Deed and of defraying any costs, charges, losses or expenses (including his remuneration) which shall be incurred by him in the exercise thereof or for any other purpose in connection herewith, to raise and borrow money either unsecured or on
the security of the Inventories either in priority to this Deed or otherwise and generally on such terms and conditions as he may reasonably think fit PROVIDED THAT:- 

 

	 	(i)	 no Receiver shall exercise such power without first obtaining the written consent of the Bank and the Bank
shall incur no liability to the Company or any other person by reason of its giving or refusing such consent whether absolutely or subject to any limitation or condition; and 

  
 - 13 - 

	 	(ii)	 no person lending such money shall be concerned to enquire as to the existence of such consent or the terms
thereof or as to the propriety or purpose of the exercise of such power or to see to the application of any money so raised or borrowed; 

  

	 	(h)	 to appoint managers, agents, officers, solicitors, accountants, auctioneers, brokers, architects, engineers,
workmen or other professional or non-professional advisers, agents or employees for any of the aforesaid purposes at such salaries or for such remuneration and for such periods as the Receiver may reasonably
determine and to dismiss any of the same or any of the existing staff of the Company and to delegate to any person any of the powers hereby conferred on the Receiver; 

 

	 	(i)	 in the exercise of any of the above powers to expend such sums as the Receiver may think fit and the Company
shall forthwith on demand repay to the Receiver all sums so expended together with interest thereon at such rates as hereinbefore mentioned from time to time of the same having been paid or incurred and until such repayment such sums together with
such interest shall be secured by this Deed; 

  

	 	(j)	 to have access to and make use of the premises and the accounting and other records of the Company and the
services of its staff for all or any of the purposes aforesaid; and 

  

	 	(k)	 to do all such other acts and things as may be considered by the Receiver to be incidental or conductive to any
of the matters or powers aforesaid or otherwise incidental or conductive to the realisation of the Bank’s security created by this Deed and which the Receiver may lawfully do and to use the name of the Company for all the purposes aforesaid.

  

	8.5	 No Restrictions on Power of Sale. No restrictions imposed by any ordinance or other statutory provision
relation to the exercise of any power of sale shall apply to this Deed. 

  

	8.6	 Receiver to Conform to Bank’s Directions. The Receiver shall in the exercise of the Receiver’s
powers, authorities and discretions conform to the directions and regulations from time to time given or made by the Bank. 

  

	8.7	 Powers to be Given Wide Construction. The powers of the Bank and the Receiver hereunder shall be
construed in the widest possible sense to the intent that the Bank and the Receiver shall be afforded as wide and flexible a range of powers as possible. 

  
 - 14 - 

	8.8	 No Liability to Account as Mortgagee in Possession. Nothing that shall be done by or on behalf of the
Bank shall render it liable to account as a mortgagee in possession for any sums other than actual receipts. 

  

	8.9	 No Liability for Losses. The Bank and the Receiver shall not be answerable for any losses, involuntary
or otherwise, which may arise in the exercise by the Bank or the Receiver of their respective powers hereunder. 

  

	8.10	 Purchaser Not Bound to Enquire. No purchaser or other person shall be bound or concerned to see or
enquire whether the right of the Bank or the Receiver to exercise any of the powers hereby conferred has arisen or not or be concerned with the propriety or regularity of the exercise thereof or be concerned with notice to the contrary or be
concerned or responsible for the application of any monies received by the Bank or the Receiver and the receipt of the Bank or the Receiver for any monies paid to it shall be a good and sufficient discharge to the person paying the same.

  

	9.	 APPLICATION OF RECEIPTS 

All monies received by the Bank or the Receiver hereunder shall be applied in or towards satisfaction of the Secured Indebtedness in such order
of priority as the Bank in its absolute discretion may determine (subject to the prior discharge of all liabilities having priority thereto by law) and subject to any such determination in the following order of priority:- 

 

	 	(a)	 In discharge of all charges, taxes and other outgoings whether governmental, municipal, contractual or
otherwise, due and affecting the Inventories or any part thereof (including storage charges); 

  

	 	(b)	 in payment or satisfaction of all costs, charges, expenses and liabilities incurred and payments made by or on
behalf of the Bank or the Receiver in connection with the exercise of any powers hereunder and in preserving or attempting to preserve this security or the Inventories and of all outgoings paid by the Bank or the Receiver; 

 

	 	(c)	 in payment to the Receiver of all remuneration as may be agreed between him and the Bank to be paid to him at,
or at any time after, his appointment; 

  
 - 15 - 

	 	(d)	 in payment or satisfaction of the remaining Secured Indebtedness (interest being satisfied first) or such part
thereof as the Bank may determine until the whole of the Secured Indebtedness shall have been certified by the Bank as having been discharged and so that if the Bank is contingently liable or will or might be so liable in respect of any monies,
obligations or liabilities hereby secured all monies not dealt with under the preceding provisions of this Clause shall be placed on deposit in such separate account as the Bank in its absolute discretion may think fit for the purpose of securing
the contingent liabilities of the Bank and shall become subject to this security, to be applied against such contingent liabilities as they fall due and the remaining balance (if any) shall be paid to the Company or other person entitled thereto.

  

	10.	 TAXES AND OTHER DEDUCTIONS 

All sums payable by the Company under this Deed shall be paid in full without set-off or counterclaim
or any restriction or condition and free and clear of any tax or other deductions or withholdings of any nature. If the Company is required by any law or regulation to make any deduction or withholding (on account of tax or otherwise) from any
payment for the account of the Bank, the Company shall, together with such payment, pay such additional amount as will ensure that the Bank receives (free and clear of any tax or other deductions or withholdings) the full amount which it would have
received if no such deduction or withholding had been required. The Company shall promptly forward to the Bank copies of official receipts or other evidence showing that the full amount of any such deduction or withholding has been paid over to the
relevant taxation or other authority. 
  

	11.	 COSTS, CHARGES AND EXPENSES 

The Company shall from time to time forthwith on demand pay to or reimburse the Bank or the Receiver for:- 

 

	 	(a)	 all costs, charges and expenses (including legal and other fees on a full indemnity basis) incurred by the Bank
or the Receiver in connection with the preparation, execution and registration of this Deed and in exercising any of its or their rights or powers hereunder or in suing for or seeking to recover any sums due hereunder or otherwise preserving or
enforcing its or their rights hereunder or in connection with the preservation or attempted preservation of the Inventories or in defending any claims brought against it or them in respect of this Deed or in releasing or re-assigning this Deed upon payment of all monies hereby secured; and 

  
 - 16 - 

	 	(b)	 all reasonable remuneration payable to the Receiver; 

and until payment of the same in full, all such costs, charges, expenses and remuneration shall be secured by this Deed. 

 

	12.	 INDEMNITY 

  

	12.1	 General Indemnity. The Company shall indemnify the Bank and the Receiver against all reasonable
losses, liabilities, damages, costs and expenses incurred by it or them in the execution or performance of the terms and conditions hereof and against all actions, proceedings, claims, demands, costs, charges and expenses which may be reasonably
incurred, sustained or arise in respect of the non-performance or non-observance of any of the undertakings and agreements on the part of the Company herein contained or
in respect of any matter or thing done or omitted relating in any way whatsoever to the Inventories. 

  

	12.2	 Payment of Security. The Bank may retain and pay out of any money in the Bank’s hands all sums
necessary to effect the indemnity contained in this Clause and all sums payable by the Company under this Clause shall form part of the monies hereby secured. 

 

	13.	 FURTHER ASSURANCE 

 

	13.1	 Further Assurance. The Company shall at any time and from time to time (whether before or after the
security hereby created shall have become enforceable) execute such further legal or other mortgages, charges or assignments and do all such transfers, assurances, acts and things as the Bank may require over or in respect of all or any of the
undertaking, property, assets and rights both present and future of the Company to secure all monies, obligations and liabilities hereby covenanted to be paid or hereby secured or for the purposes of perfecting and completing any assignment of the
Bank’s rights, benefits or obligations hereunder and the Company shall also give all notices, orders and directions which the Bank may require. 

  
 - 17 - 

	13.2	 Enforcement of the Bank’s Rights. The Company will do or permit to be done everything which the
Bank may from time to time require to be done for the purpose of enforcing the Bank’s rights hereunder and will allow the name of the Company to be used as and when required by the Bank for that purpose. 

 

	14.	 POWER OF ATTORNEY 

The Company irrevocably appoints the Bank, the Receiver and any persons deriving title under either of them by way of security jointly and
severally to be its attorney (with full power of substitution) and in its name or otherwise on its behalf and as its act and deed to sign, seal, execute, deliver, perfect and do all deeds, instruments, acts and things which may be required or which
the Bank or the Receiver shall reasonably think proper or expedient for carrying out any obligations imposed on the Company hereunder or for exercising any of the powers hereby conferred or in connection with any sale or disposition of the
Inventories or the exercise of any rights in respect thereof or for giving to the Bank the full benefit of this security and so that the appointment hereby made shall operate to confer on the Bank and the Receiver authority to do on behalf of the
Company anything which it can lawfully do itself. The Company ratifies and confirms and agrees to ratify and confirm any deed, instrument, act or thing which such attorney or substitute may execute or do. 

 

	15.	 SUSPENSE ACCOUNT 

The Bank may, notwithstanding the provisions of Clause 9, place and keep any monies received by virtue of this Deed (whether before or after
the insolvency or liquidation of the Company) to the credit of a non-interest bearing suspense account for so long as the Bank may think fit in order to preserve the rights of the Bank to sue or prove for the
whole amount of its claims against the Company or any other person. 
  

	16.	 WAIVER AND SEVERABILITY 

No failure or delay by the Bank in exercising any right, power or remedy hereunder shall impair such right, power or remedy or operate as a
waiver thereof, nor shall any single or partial exercise of the same preclude any further exercise thereof or the exercise of any other right, power or remedy. The rights, powers and remedies herein provided are cumulative and do not exclude any
other rights, powers and remedies provided by law. If at any time any provision of this Deed is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, the legality, validity and enforceability of such
provision under the law of any other jurisdiction, and of the remaining provisions of this Deed, shall not be affected or impaired thereby. 

  
 - 18 - 

	17.	 MISCELLANEOUS 

 

	17.1	 Continuing obligation. The liabilities and obligations of the Company under this Deed shall remain in
force notwithstanding any act, omission, event or circumstances whatsoever, until full, proper and valid payment of the Secured Indebtedness. 

  

	17.2	 Protective Clauses. Without limiting Clause 17.1, neither the liability of the Company nor the validity
or enforceability of this Deed shall be prejudiced, affected or discharged by:- 

  

	 	(a)	 any other Encumbrance, guarantee or other security or right or remedy being or becoming held by or available to
the Bank or by any of the same being or becoming wholly or partly void, voidable, unenforceable or impaired or by the Bank at any time releasing, refraining from enforcing, varying or in any other way dealing with any of the same or any power, right
or remedy the Bank may now or hereafter have from or against the Company or any other person or the granting of any time or indulgence to the Company or any other person; 

 

	 	(b)	 any variation or modification of the Facility Agreement or security document to which the Company is a party or
any Finance Document; 

  

	 	(c)	 the invalidity or unenforceability of any obligation or liability of the Company under any facility letter or
security document to which it is a party or any Finance Document; 

  

	 	(d)	 any invalidity or irregularity in the execution of this Deed or any loan agreement or other security document
or any deficiency in the powers of the Company to enter into or perform any of its obligations hereunder or under any loan agreement or other security document to which it is a party or any Finance Document; or 

 

	 	(e)	 any act, omission, event or circumstance which would or may but for this provision operate to prejudice, affect
or discharge this Deed or the liability of the Company hereunder. 

  
 - 19 - 

	17.3	 Unrestricted Right of Enforcement. This Deed may be enforced without the Bank first having recourse to
any other security or rights or taking any other steps or proceedings against the Company or any other person or may be enforced for any balance due after resorting to any one or more other means of obtaining payment or discharge of the monies
obligations and liabilities hereby secured. 

  

	17.4	 Discharges and Releases. Notwithstanding any discharge, release or settlement from time to time between
the Bank and the Company, if any security disposition or payment granted or made to the Bank in respect of the Secured Indebtedness by the Company or any other person is avoided or set aside or ordered to be surrendered, paid away, refunded or
reduced by virtue of any provision, law or enactment relating to bankruptcy, insolvency, liquidation, winding-up, composition or arrangement for the time being in force or for any other reason, the Bank shall
be entitled hereafter to enforce this Deed as if no such discharge, release or settlement had occurred. 

  

	17.5	 Amendment. Any amendment or waiver of any provision of this Deed and any waiver of any default under
this Deed shall only effective if made in writing and executed by the Bank. 

  

	18.	 ASSIGNMENT 

  

	18.1	 The Company. The Company shall not assign any of its rights hereunder. 

 

	18.2	 The Bank. The Bank may assign all or any part of its rights under this Deed. 

 

	19.	 NOTICES AND SERVICE OF PROCEEDINGS 

 

	19.1	 Any notice, request, certificate, demand or other communication required to be given by any party hereto to the
other parties hereto shall be in writing and shall be deemed to have been so given if addressed to the addressee at its address in Hong Kong herein mentioned or to such other address in Hong Kong as may have been notified in writing by such party to
the other parties hereto in accordance with this Clause 19.1. 

  

	19.2	 Any notice, request, certificate, demand or other communication delivered personally shall be deemed to have
been given at the time of such delivery. Any notice, request, certificate, demand or other communication dispatched by letter postage prepaid shall be deemed to have been given forty eight (48) hours after posting. Any notice, request,
certificate, demand or other communication sent by telex or facsimile transmission shall be deemed to have been given at the time of dispatch and any notice, request, certificate, demand or other communication sent by cable shall be deemed to have
been given twenty four (24) hours after dispatch. Provided always that any notice, request, certificate, demand or other communication to be given by the Company to the Bank shall only be effective upon actual receipt thereof by the Bank (as
the case may be). 

  
 - 20 - 

	19.3	 Any legal process including any writ or originating summons or otherwise and any other summons or notice to be
served on a party by the other party hereto in any legal proceeding or action in any court or tribunal shall be deemed to be sufficiently and duly served forty-eight (48) hours after having been left or sent by ordinary pre-paid post to the addressee’s registered office or usual place of business in Hong Kong and in proving service it shall be sufficient to prove that the legal process or summons or notice was properly
addressed and posted or properly left (as the case may be) irrespective of whether the same is returned through the post undelivered to the addressee. 

  

	20.	 SET OFF AND LIEN 

The Company agrees that the Bank shall (without prejudice to any general or banker’s lien, right of
set-off or any other right to which it may be entitled) have the right, without notice to the Company or any other person, at any time to set off and apply any credit balance on any account (whether subject to
notice or not and whether matured or not and in whatever currency) of the Company with the Bank and any other indebtedness owing by the Bank to the Company, against any moneys, obligations and liabilities of the Company to the Bank on any account or
in any other respect whether actual or contingent and the Bank is authorized to purchase with the moneys standing to the credit of any such account such other currencies as may be necessary for this purpose. Until payment in full of the Secured
Indebtedness the Bank shall, in addition to any other rights and remedies, have a lien on all property and assets of the Company from time to time in the possession of or registered in the name of the Bank or its nominees (including but not limited
to all stocks, shares and marketable or other securities) whether such property and assets are held for safe custody or otherwise. 

  
 - 21 - 

	21.	 CURRENCY CONVERSION 

 

	21.1	 For the purpose of or pending the discharge of any of the Secured Indebtedness, the Bank may convert any moneys
received, recovered or realized under this Deed (including the proceeds of any previous conversion under this Clause) from their existing currency of denomination into such other currency of denomination as the Bank may think fit and any such
conversion shall be effected at the then prevailing spot selling rate of exchange for such other currency against the existing currency quoted by the Bank. Each previous reference in this Clause to a currency extends to funds of that currency and
for the avoidance of doubt, funds of one currency may be converted into different funds of the same currency. 

  

	21.2	 No payment to the Bank (whether under any judgment or court order or otherwise) shall discharge the
Company’s obligation or liability in respect of which it was made unless and until the Bank shall have received payment in full in the currency in which such obligation or liability was incurred and to the extent the amount of any such payment
shall on actual conversion into such currency fall short of such obligation or liability expressed in that currency, the Bank shall have a further separate cause of action against the Company and shall be entitled to enforce the security hereby
created to recover the amount of the shortfall. The Company hereby agrees to fully indemnify the Bank in this respect. 

  

	22.	 GOVERNING LAW AND JURISDICTION 

 

	22.1	 Law. This Deed and the rights and obligations of the parties hereunder shall be governed by and
construed in accordance with the laws of Hong Kong. 

  

	22.2	 Jurisdiction. The Company agrees that any legal action or proceeding arising out of or relating to this
Deed may be brought in the courts of Hong Kong Special Administrative Region and irrevocably submits to the non-exclusive jurisdiction of such courts. 

 

	22.3	 No Limitation on Right of Action. Nothing herein shall limit the right of the Bank to commence any legal
action against the Company and/or its property in any other jurisdiction or to serve process in any manner permitted by law, and the taking of proceedings in any jurisdiction shall not preclude the taking of proceedings in any other jurisdiction
whether concurrently or not. 

  
 - 22 - 

	23.	 MISCELLANEOUS 

 

	23.1	 Legal Representation: The parties acknowledge that Messrs. Li, Wong, Lam & W.l. Cheung acts as
legal counsel of the Bank only relating to this Deed. The Company will take separate legal advice as it sees fit. 

  

	23.2	 Third Party Rights: Nothing contained herein is intended to grant to any third party any right to
enforce any term hereof or to confer on any third party any right or benefit hereunder for the purposes of the Contracts (Rights of Third Parties) Ordinance and any enactment thereof and the application of the said Ordinance is expressly excluded.

  
 - 23 - 

 IN WITNESS whereof this Deed has been duly executed the day and year first above written. 

 

					
	 SEALED with the COMMON SEAL

of the Company and SIGNED by
  

duly authorized by the Board of

Directors, in the presence of:-
	  	 )
 )

)
 )

)
	  	  
 /s/ Zeng Qingchun

  
 - 24 - 

 DATED the 25 day of Oct 2018 

ECMOHO (Hong Kong) Limited 

to 
 Taipei Fubon Commercial
Bank Co., Ltd. 
 **************************************************** 

DEED OF CHARGE 
 OF
INVENTORIES 
 **************************************************** 

     

     
 §§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§§ 
 LI, WONG, LAM & W.l. CHEUNG

 SOLICITORS & NOTARIES 

22/F., INFINITUS PLAZA, 

199 DES VOEUX ROAD CENTRAL, 

HONG KONG 
  

                       
                                         
                 
 Ref. :
033/93398/18/COMM/B/033/147 

  
 - 25 - 

 Execution Version 

THIS SUPPLEMENTAL DEED is made on 23 November 2018 

PARTIES 
  

	(1)	 ECMOHO (Hong Kong) Limited, a company incorporated under the laws of Hong Kong whose registered office
is situated at Flat 9, 4/F, Beverley Commercial Centre, 87-105 Chatham Road South, Tsimshatsui, Kowloon, Hong Kong (“the Company”); and  

 

	(2)	 Taipei Fubon Commercial Bank Co., Ltd., Hong Kong Branch whose principal place of business in Hong Kong
is situated at 16/F, K11 Atelier, Victoria Dockside, 18 Salisbury Road, Tsim Sha Tsui, Kowloon, Hong Kong (“the Bank”). 

 Each
a “Party” and collectively, the “Parties”. 
 WHEREAS: 

 

	(A)	 By a facility letter (“Facility Agreement”) dated 18 October 2018 issued by the Bank to the
Company and Import it Corp (collectively the “Borrowers”) and duly executed by them, the Bank agreed to provide to the Borrowers revolving credit facility to the extent of USD25,000,000.00. 

 

	(B)	 It is a condition (amongst others) of the Facility Agreement that a floating charge of the Inventories (as
hereinafter defined) be provided by the Company in favour of the Bank as security for Secured Indebtedness. On 25 October 2018, the Parties has entered into a Deed of Charge of Inventories. 

 

	(C)	 The Parties agree to enter into this Supplemental Deed to vary the Deed of Charge of Inventories as set out
herein. 

 WHEREBY IT IS AGREED as follows: 
  

	1.	 DEFINITIONS 

In this Supplemental Deed, unless the context otherwise requires or unless this Supplemental Deed expressly otherwise provides, all words and expressions as
defined in the Deed of Charge of Inventories shall have the same meanings when used or referred to herein. 

  
 1 

	2.	 AMENDMENT AND VARIATION TO THE AGREEMENT 

The Parties hereby agree to the following amendments and variations to the Supplemental Deed: 

 

	(A)	 The definition of Share Charge shall be deleted in its entirety and be replaced with the following new
definition of Share Charge: 

 “Share Charges” means (i) the first fixed legal charge of 9,393,800
Class B Ordinary Shares of ECMOHO Limited by Behealth Limited in favour of the Bank as security for Secured Indebtedness; and (ii) the first fixed legal charge of 9,393,800 Class B Ordinary Shares of ECMOHO Limited by Uhealth Limited
in favour of the Bank as security for Secured Indebtedness.” 
  

	(B)	 Clause 3.1 of the Deed of Charge of Inventories shall be deleted in its entirety and be replaced with the
following new Clause 3.1: 

 “3.1 Charge. The Company as legal and beneficial owner hereby charges to the Bank
the Inventories by way of first floating charge as a continuing security for the payment and discharge of the Secured Indebtedness Provided That upon payment and discharge of the entire Secured Indebtedness the Bank shall, at the request and costs
of the Company, release the Inventories hereby charged within fourteen (14) Business Days upon the request of the Company and at the cost of the Company. For the avoidance of doubt, the Facility Agreement shall be terminated upon the above
release. 
  

	(C)	 Clause 7.1 of the Deed of Charge of Inventories shall be deleted in its entirety and be replaced with the
following new Clause 7.1: 

 “Each of the following events shall be an Event of Default:- 

 

	 	(a)	 any of the Borrowers makes default in the payment on the due date and in accordance with the terms and
conditions under Facility Agreement of any principal or interest or other moneys outstanding and payable by the Company to the Bank (whether demanded or not); 

 

	 	(b)	 any of the Obligors make default in the payment on the due date and in accordance with the terms and conditions
relating thereto under any Finance Documents in respect of money and other liabilities; 

  

	 	(c)	 any representation, warranty or undertaking by the Company hereunder is not complied with or proves to have
been or to be untrue or incorrect in any material respect when made or deemed to be made; 

  
 2 

	 	(d)	 any representation, warranty or undertaking by any of the Obligors under any Finance Documents is not complied
with or proves to have been or to be untrue or incorrect in any material respect when made or deemed to be made; 

  

	 	(e)	 the Company does not comply with any of the Company’s covenants or obligations under this Deed in any
material respect; 

  

	 	(f)	 any of the Obligors does not comply with any of its covenants and obligation under any Finance Documents in any
material respect; 

  

	 	(g)	 a petition is presented or an order is made or an effective resolution is passed or analogous proceedings are
taken for the winding up of the Company or any Obligor, save for the purposes of an amalgamation, merger or reconstruction the terms whereof have previously been approved by the Bank; 

 

	 	(h)	 the Company or any of the Obligors shall without the consent in writing of the Bank stop payment to creditors
when due nor within any originally applicable grace period or (if applicable) the Company or any of the Obligors shall (otherwise than for the purpose of such an amalgamation, merger or reconstruction as is referred to in Sub-Clause 7.1(g)) cease or threaten to cease to carry on its business or any substantial part thereof or shall be unable to pay its debts or disposes of the whole or a substantial part of its undertaking or assets;

  

	 	(i)	 there occurs a material adverse change in the Company’s or any Obligor’s financial condition which
would, in the reasonable opinion of the Bank, prevent the Company or any Obligor from performing in any material respect its obligations under this Deed or under any Finance Documents; 

 

	 	(j)	 the Company purports or attempts to create any Encumbrance over all or any part of the Inventories or any third
party asserts a reasonable and substantial claim in respect thereof (except as permitted under this Deed); 

  

	 	(k)	 the security hereby created or under any Finance Documents or any part thereof fails or ceases for any reason
to be in full force and effect or is terminated or jeopardised or becomes invalid or unenforceable or if there is any dispute regarding the same or if there is any purported termination of the same or it becomes impossible or unlawful for the
Company or any Obligor to perform any of its obligations hereunder or under any Finance Documents or for the Bank to exercise all or any of its rights, powers and remedies hereunder or under any Finance Documents; and 

 

	 	(l)	 a creditor takes possession of all or any part of the business or assets of the Company or any Obligor or any
execution or other legal process is enforced against the business or any asset of the Company and is not discharged within fourteen (14) days.” 

  
 3 

	(D)	 Clause 7.2 of the Deed of Charge of Inventories shall be deleted in its entirety and be replaced with the
following new Clause 7.2: 

 “If an Event of Default has occurred and is continuing, the Bank may: 

 

	 	(a)	 declare the Secured Indebtedness, all loans and other moneys, obligations and liabilities hereby secured to be,
whereupon they shall become, immediately due and payable without further demand, notice or other legal formality of any kind; 

  

	 	(b)	 declare the Credit Facility to be terminated whereupon all obligations of the Bank to make further advances to
the Company shall immediately cease; 

  

	 	(c)	 demand that the Company to provide cash cover to the Bank for all liabilities of the Company to the Bank,
whereupon the Company shall be under an immediate obligation to provide such cash cover; and 

  

	 	(d)	 in its absolute discretion enforce all or any part of this security in any manner it sees fit or as the Bank
direct including but limited to the sale and disposal of the Inventories at any price which the Bank may deem fit. The Company shall not have any right to claim against the Bank in respect of any loss arising out of any sale pursuant to this Charge
of Inventories in the absence of fraud, gross negligence or willful misconduct by the Bank, however such loss may have been caused and whether or not a better price could or might have been obtained on the sale of any of the Inventories by either
deferring or advancing the date of such sale or otherwise howsoever.” 

  

	3.	 EFFECT OF THIS SUPPLEMENTAL AGREEMENT 

 

	3.1	 This Supplemental Deed is and shall be construed as supplemental to the Deed of Charge of Inventories, and the
Deed of Charge of Inventories and this Supplemental Deed shall be read and construed as one document and references to “this Deed of Charge of Inventories” in the Deed of Charge of Inventories and shall be construed accordingly.

  

	3.2	 Save as expressly amended or varied herein, the other terms and conditions of the Deed of Charge of Inventories
(which have not been amended or varied by this Supplemental Deed) shall remain to be valid, subsisting and enforceable between the Parties. 

  
 4 

	4.	 GENERAL 

This Agreement shall be governed by and construed in accordance with the laws of Hong Kong and the parties irrevocably submit to the non-exclusive jurisdiction of the courts of Hong Kong. 
 Remainder of the page intentionally left
blank  

  
 5 

 IN WITNESS whereof this Deed has been duly executed the day and year first above written. 

 

					
	 SEALED with the COMMON SEAL of the

Chargor and SIGNED by
  

duly authorized by the Board of Directors, in

the presence of :-
	  	 )
 )

)
 )

)
	  	  
 /s/ Qingchun Zeng

 [Signature Page] 

 DATE: 23rd day of November 2018

 ECMOHO (Hong Kong) Limited 

to 
 Taipei Fubon Commercial
Bank Co., Ltd. 
 ******************************************* 

SUPPLEMENTAL DEED 
 to 

DEED OF CHARGE 
 OF
INVENTORIES 
 ******************************************* 

LI, WONG, LAM & W.I. CHEUNG 

SOLICITORS & NOTARIES 

22/F., INFINITUS PLAZA, 

199 DES VOEUX ROAD CENTRAL, 

HONG KONG 
 Ref. :
033/93398/18/COMM/B/033/147 

  
 7

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