Document:

Exhibit 10.30

 

股东表决权委托协议

 

Voting Rights Proxy and Financial Supporting
Agreement

 

本股东表决权委托协议(以下称”本协议”)于2019年12月20日由以下各方在咸宁签订:

 

This Voting Rights Proxy and Financial Supporting Agreement
(the “Agreement”) is made in Xianning, China on December 20, 2019 among the following parties:

 

	甲方:	 	蔡明玥 (”委托人”)
	身份证号码:	 	310110197803215455
	Party A:	 	Cai Mingyue “Entrusting Party.”
	ID No.:	 	310110197803215455
	 	 	 
	乙方:	 	祥天石化科技(咸宁)有限公司 (”受托人”)
	地址:	 	湖北省咸宁市黄畈村一组金色海湾2幢3层
	Party B:	 	Lucky Sky Petrochemical Technology (Xianning) Co., Ltd. (“Designee”)
	Address:	 	3 / F, building 2, Golden Bay, Group 1, Huangfan village, Xianning City, Hubei Province
	 	 	 
	丙方:	 	绿润食品(深圳)有限公司
	地址:	 	深圳市南山区蛇口街道南海大道以西美年广场1栋1104F
	Party C:	 	Lorain Food Stuff (Shenzhen) Co., Ltd.
	Address:	 	F1104, Building 1, Meinian Square, West of Nanhai Avenue, Shekou Street, Nanshan District, Shenzhen

 

(在本协议中,以上各方分别称为”一方”,合称为”各方”。)

(In this Agreement, each of Party A, Party B and Party C shall
be referred to as a “Party” respectively, and they shall be collectively referred to as the “Parties”.)

鉴于:

 

Whereas:

 

1. 委托方是丙方现时的股东,登记为持有丙方100%的股权的股东;

 

The Entrusting Party, the shareholder of Party C, owns
100% of the equity interest in Party C in record.

 

2. 委托方有意分别不可撤销地委托乙方或乙方指定的个人行使其在丙方中享有的表决权,乙方有意接受该等委托。

 

The Entrusting Party is willing to unconditionally
entrust Party B or Party B’s designee to vote on his or her behalf at the shareholders’ meeting of Party C, and Party
B is willing to accept such proxy on behalf of Entrusting Party.

 

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各方经友好协商,兹一致协议如下:

 

Therefore, the Parties hereby agree as follows:

 

第一条 表决权委托

 

Proxy of Voting Rights

 

1.1 委托方兹不可撤消地承诺,其在本协议签订后将签署内容和格式如本协议附件一的授权委托书(“授权委托书”),分别授权乙方或乙方届时指定的人士(以下称”受托人”)代表其行使委托方作为丙方的股东,依据丙方届时有效的章程所分别享有的权利,包括但不限于(以下统称”委托权利”):

 

Entrusting Party hereby irrevocably covenants that,
he/she shall execute the Power of Attorney (“POA”) set forth in Exhibit A upon signing this Agreement and entrust Party
B or Party B’s designee (“Designee”) to exercise all his or her rights as the shareholder of Party C under the
Articles of Association of Party C, including without limitation to:

 

(1) 作为委托方的代理人,根据丙方的章程提议召开和出席丙方的股东会会议;

 

propose to hold a shareholders’ meeting in accordance
with the Articles of Association of Party C and attend shareholders’ meetings of Party C as the agent and attorney of Entrusting
Party;

 

(2) 代表委托方对所有需要股东会讨论、决议的事项行使表决权,包括但不限于指定和选举丙方的董事、总经理及其他应由股东任免的高级管理人员;

 

exercise all shareholder’s voting rights with
respect to all matters to be discussed and voted in the shareholders’ meeting of Party C, including but not limited to designate
and appoint the director, the chief executive officer and other senior management members of Party C;

 

(3) 不时修订的中国法律法规规定的股东所应享有的其他表决权;以及

 

exercise other voting rights the shareholders are
entitled to under the laws of China promulgated from time to time; and

 

(4) 不时修订的丙方章程项下的其他股东表决权。

 

exercise other voting rights the shareholders are
entitled to under the Articles of Association of Party C amended from time to time;

 

乙方特此同意接受第1.1条所述该等委托。当收到乙方向委托方发出的更换受托人的书面通知,委托方应立即指定乙方届时指定的其他人行使第1.1条的委托权利;除此外,委托方不得撤销向受托人做出的委托和授权。

 

Party B hereby agrees to accept such proxy as set
forth in Clause 1.1. Upon receipt of the written notice of change of Designee from Party B, the Entrusting Party shall immediately
entrust such person to exercise the rights set forth in Clause 1.1. Except the aforesaid situation, the proxy shall be irrevocable
and continuously valid.

 

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1.2 对受托人行使上述委托权利所产生的任何法律后果,委托方均予以认可并承担相应责任。

 

The Entrusting Party hereby acknowledges and ratify
all the actions associated with the proxy conducted by the Designee.

 

1.3 委托方兹确认,受托人在行使上述委托权利时,无需事先征求委托方的意见。

 

The Parties hereby confirm that, Designee is entitled
to exercise all proxy rights without the consent of Entrusting Party.

 

第二条 知情权

 

Rights to Information

 

2.1 为行使本协议下委托权利之目的,受托人有权要求丙方提供相关信息,查阅丙方相关资料,丙方应对此予以充分配合。

 

For the purpose of this Agreement, the Designee is
entitled to request relevant information of Party C and inspect the materials of Party C. Party C shall provide appropriate assistance
to the Designee for his/her work.

 

2.2 发生本协议项下的委托事项时,委托方及丙方应及时通知乙方。

 

The Entrusting Party and Party C shall immediately
inform Party B once the proxy matter happens.

 

第三条 委托权利的行使

 

Performance of Proxy Rights

 

3.1 委托方将就受托人行使委托权利提供充分的协助,包括在必要时及时签署及执行受托人已作出的股东会决议或其他相关的法律文件。

 

The Entrusting Party shall provide appropriate assistance
to the Designee for the performance of proxy rights provided in this Agreement, including signing and executing the shareholders’
resolution and other relevant legal documents (if applicable) which have been confirmed by the Designee.

 

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3.2 如果本协议有任何一条或多条规定根据任何法律或法规在任何方面被裁定为无效、不合法或不可执行,本协议其余规定的有效性、合法性或可执行性不应因此在任何方面受到影响或损害。双方应通过诚意磋商,争取以法律许可以及双方期望的最大限度内有效的规定取代那些无效、不合法或不可执行的规定,而该等有效的规定所产生的经济效果应尽可能与那些无效、不合法或不能强制执行的规定所产生的经济效果相似。

 

In the event that one or several of the provisions
of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the
validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any
aspect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions
that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective
provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

 

第四条 财务支持

 

Financial Supporting

 

考虑到委托方授予的上述投票权,受托人同意安排向丙方提供有关于其业务的必要的资金(”财务支持”)。受托人同意如果因正常商业运作失败而丙方不能偿还其财务支持,丙方将无返还义务。

 

In consideration of the foregoing grant of voting
rights by the Entrusting Party, Party B agrees to arrange for funds to be provided as necessary to Party C in connection with the
business (the “Financial Support”). Party B further agrees that should the business fails in the ordinary course of
business, and as a result Party C is unable to repay the Financial Support, the Party C shall have no repayment obligation.

 

第五条 声明与保证

 

Representations and Warranties

 

5.1 委托方兹分别地声明与保证如下:

 

The Entrusting Party hereby represents and warrants
to Party B as follows:

 

5.1.1 其拥有签订和履行本协议及授权委托书项下义务的完全权力和授权。本协议构成对其的合法的、具有约束力的义务,并可根据本协议条款对其强制执行。

 

The Entrusting Party has full power and legal right
to enter into this Agreement and perform his or her obligations under this Agreement and in executing the POA; This Agreement and
the POA constitute legal, valid, binding and enforceable obligation of each Entrusting Party.

 

5.1.2 其已获得适当的授权签署、交付并履行本协议,对本协议的签署和履行并不违反丙方公司文件的任何规定。

 

Entrusting Party has necessary authorization for
the execution and delivery of this Agreement, and the execution, delivery and performance of this Agreement will not conflict with
or violate any and all constitutional documents of Party C.

 

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5.1.3 其是丙方的在册的合法股东,除本协议及委托方、乙方与丙方签订的《股权质押协议》及《股权处分合同》所设定的权利外,委托权利上不存在任何第三方权利或限制。根据本协议,受托人可以根据丙方届时有效的章程完全、充分地行使委托权利。

 

Entrusting Party is the lawfully registered and beneficial
owner of the shares of Party C, and none of the shares held by the Entrusting Party is subject to any encumbrance or other restrictions,
except as otherwise provided under the Equity Pledge Agreement and Equity Option Agreement entered into by and between Party B,
Party C and the Entrusting Party. According to this Agreement, the Designee has full power and legal rights to exercise the proxy
rights according to the Articles of Association of Party C.

 

5.2丙方兹声明与保证如下:

 

Party C hereby represents and warrants as follows:

 

5.2.1 其是根据其注册地法律适当注册并合法存续的有限责任公司,具有独立法人资格;具有完全、独立的法律地位和法律能力签署、交付并履行本协议,可以独立地作为一方诉讼主体。

 

Party C is a company legally registered and validly
existing in accordance with the laws of China and has independent legal person status, and has full and independent civil and legal
capacity to execute, deliver and perform this Agreement. It can sue and be sued as a separate entity;

 

5.2.2 其已采取必要的公司行为,获得必要的授权,并取得第三方和政府部门的同意及批准(若需)以签署和履行本协议;其对本协议的签署和履行并不违反法律法规的明确规定。

 

Party C has taken all necessary corporate actions,
obtained all necessary authorization and the consent and approval from third parties and government agencies (if any) for the execution
and performance of this Agreement. Party C’s execution and performance of this Agreement do not violate any explicit requirements
under any law or regulation binding on Party C.

 

5.2.3 委托方是丙方的在册的合法股东。除本协议及委托方、乙方与丙方签订的《股权质押协议》及《股权处分合同》所设定的权利外,委托权利上不存在任何第三方权利。根据本协议,受托人可以根据丙方届时有效的章程完全、充分地行使委托权利。

 

Each Entrusting Party is the lawfully registered
and beneficial owner of the shares of Party C, and none of the shares held by the Entrusting Party is subject to any encumbrance
or other restrictions, except as otherwise provided under the Equity Pledge Agreement and Equity Option Agreement entered into
by and between Party B, Party C and the Entrusting Party. According to this Agreement, the Designee has full power and legal rights
to exercise the proxy rights according to the Articles of Association of Party C.

 

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第六条 协议期限

 

Term of this Agreement

 

6.1 本协议自各方正式签署之日起生效,有效期三十(30)年;双方同意,在本协议期满前,乙方有权以书面通知的方式延长本协议的期限,其他方必须无条件地同意该延期。

 

This Agreement shall become effective upon the date
hereof with a term of thirty (30) years. The Parties agree that, this Agreement can be extended only if Party B gives its written
consent of the extension of this Agreement before the expiration of this Agreement and the other Parties shall agree with this
extension without reserve.

 

6.2 如委托方经乙方的事先同意转让了其持有的全部丙方的股权,委托方在本协议下的义务与承诺将由受让方承担。

 

If the Entrusting Party has transferred all his or
her equity interests in Party C subject to the prior consent of Party B, the obligations and warranties under this Agreement of
the Entrusting Party shall be undertaken by the assignee.

 

第七条 通知

 

Notices

 

7.1 本协议要求的或根据本协议作出的任何通知、请求、要求和其他通信往来应以书面形式送达有关方。

 

All notices and other communications required or
permitted to be given pursuant to this Agreement shall be delivered in written.

 

7.2 上述通知如果是以专人递送、快递服务或挂号邮寄、邮资预付发出的,则以于设定为通知的地址在签收或拒收之日为有效送达日。如果是以传真发出的,则以成功传送之日为有效送达日(应以自动生成的传送确认信息为证)。

 

Notices given by personal delivery, by courier service
or by registered mail, postage prepaid, shall be deemed effectively given on the date of acceptance or refusal at the address specified
for notices. Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as
evidenced by an automatically generated confirmation of transmission).

 

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第八条 保密义务

 

Confidentiality

 

8.1 各方承认及确定有关本合同、本合同内容,以及彼此就准备或履行本合同而交换的任何口头或书面资料均被视为保密信息。各方应当对所有该等保密信息予以保密,而在未得到另一方书面同意前,不得向任何第三者披露任何保密信息,惟下列信息除外:(a)公众人士知悉或将会知悉的任何信息(惟并非由接受保密信息之一方擅自向公众披露);(b)根据适用法律法规、股票交易规则、或政府部门或法院的命令而所需披露之任何信息;或(c)由任何一方就本合同所述交易而需向其股东、投资者、法律或财务顾问披露之信息,而该股东、法律或财务顾问亦需遵守与本条款相类似之保密责任。如任何一方工作人员或聘请机构的泄密均视为该方的泄密,需依本合同承担违约责任。无论本合同以任何理由终止,本条款仍然生效。

 

The Parties acknowledge that the existence and the
terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and
performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential
information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information
to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving
Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations,
rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any
Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided
that such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar
to those set forth in this Section. Disclosure of any confidential information by the staff members or agencies hired by any Party
shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this
Agreement. This Section shall survive the termination of this Agreement for any reason.

 

第九条 违约责任

 

Liability for Breach of Agreement

 

9.1 各方同意并确认,如任一方(“违约方”)违反本协议项下所作的任何一项约定,或未履行或迟延履行本协议项下的任何一项义务,即构成本协议项下的违约(“违约”),其他未违约方(“守约方”)的任一方有权要求违约方在合理期限内补正或采取补救措施。如违约方在合理期限内或在另一方书面通知违约方并提出补正要求后十(10)天内仍未补正或采取补救措施的,则

 

The Parties agree and confirm that, if either Party
is in breach of any provisions herein or fails to perform its obligations hereunder, such breach or failure shall constitute a
default under this Agreement, which shall entitle the non-defaulting Party to request the defaulting Party to rectify or remedy
such default with a reasonable period of time. If the defaulting Party fails to rectify or remedy such default within the reasonable
period of time or within 10 days of non-defaulting Party’s written notice requesting for such rectification or remedy, then
the non-defaulting Party shall be entitled to elect the following remedial actions:

 

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9.1.1 若任何委托方或丙方为违约方,乙方有权终止本协议并要求违约方给予损害赔偿;

 

If the defaulting Party is any Entrusting Party or
Party C, then Party B has the right to terminate this Agreement and request the defaulting Party to fully compensate its losses
and damages;

 

9.1.2 若乙方为违约方,守约方有权要求违约方给予损害赔偿,但除非法律另有规定,否则其在任何情况均无任何权利终止或解除本协议。

 

If the defaulting Party is Party B, then the non-defaulting
Party has the right to request the defaulting Party to fully compensate its losses and damages, but in no circumstance shall the
non-defaulting Party early terminate this Agreement unless the applicable law provides otherwise.

 

9.2 尽管有本协议其它规定,本条规定的效力不受本协议中止或者终止的影响。

 

Notwithstanding otherwise provided under this Agreement,
the validity of this Section shall not be affect by the suspension or termination of this Agreement.

 

第十条 其他事项

 

 Miscellaneous

 

10.1 本协议采用中文、英文两种文本,中文文本与英文文本具有同等法律效力,中文文本与英文文本不一致的,以中文文本为准。正本一式叁(3)份,本协议之各方当事人各执壹(1)份。

 

This Agreement shall be signed in Chinese and English
language bearing the same legal effect. In the event of any inconsistency between the Chinese and English language, the Chinese
version of this Agreement shall prevail. This Agreement shall have three counterparts, with each party holding one original. All
counterparts shall be given the same legal effect.

 

10.2 本协议的订立、生效、履行、修改、解释和终止均适用中华人民共和国法律。

 

The execution, effectiveness, interpretation, performance,
amendment, termination and dispute resolution shall be governed by the law of the People’s Republic of China.

 

10.3 一切因执行本协议或与本协议有关的争执,应由各方通过友好方式协商解决。如经协商不能得到解决时,应提交位于深圳的中国国际经济贸易仲裁委员会华南分会,根据提交仲裁时中国国际经济贸易仲裁委员会的仲裁规则进行仲裁,仲裁地点在深圳。仲裁裁决是终局性的,对各方均由约束力。

 

In the event of any dispute with respect to this
Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an
agreement on the dispute, either Party may submit the relevant dispute to the Southern Commission of China International Economic
and Trade Arbitration Commission for arbitration, in accordance with its Arbitration Rules. The arbitration shall be conducted
in Shenzhen. The arbitration award shall be final and binding on all Parties.

 

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10.4 本合同规定的权利和救济是累积的,并不排斥法律规定的其他权利或者救济。

 

The rights and remedies provided for in this Agreement
shall be accumulative and shall not affect any other rights and remedies stipulated at law.

 

10.5 任何一方可以对本合同的条款和条件作出弃权,但必须经书面作出并经各方签字。一方在某种情况下就其他方的违约所作的弃权不应被视为该方在其他情况下就类似的违约已经对其他方作出弃权。

 

Any Party may waive the terms and conditions of this
Agreement, provided that such a waiver must be provided in writing and shall require the signatures of the Parties. No waiver by
any Party in certain circumstances with respect to a breach by other Parties shall operate as a waiver by such a Party with respect
to any similar breach in other circumstances.

 

10.6 本协议各条的标题仅为索引而设,在任何情况下,该等标题不得用于或影响对本协议条文的解释。

 

The headings of this Agreement are for convenience
only, and shall not be used to interpret, explain or otherwise affect the meanings of the provisions of this Agreement.

 

10.7 本协议的任何修改、补充必须以书面形式进行,并由本协议各方适当签署后方能生效。

 

Any amendment, change and supplement to this Agreement
shall require the execution of a written agreement by all of the Parties.

 

10.8 未经乙方的事先书面同意,其他方均不得向任何第三方转让其于本协议下的任何权利及/或义务;委托方、丙方在此同意,乙方有权在书面通知委托方及丙方后,将其在本协议下的任何权利及/或义务转让给任何第三方。

 

Without Party B’s prior written consent, other
Parties shall not assign its rights and obligations under this Agreement to any third party. Entrusting Party and Party C agrees
that Party B may assign its obligations and rights under this Agreement to any third party upon a prior written notice to Entrusting
Party and Party C.

 

10.9 本协议对各方的合法继受人均具有约束力。

 

This Agreement shall be binding on the legal successors
of each Party.

 

本页其余部分刻意留为空白

 

The Remainder of this page is intentionally
left blank

 

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有鉴于此,各方已使得经其授权的代表于文首所述日期签署了本股东表决权委托协议并即生效,以昭信守。

 

IN WITNESS WHEREOF, the Parties have caused
their authorized representatives to execute this Voting Rights Proxy and Financial Supporting Agreement as of the date first above
written.

 

甲方:

Party A:

签字:

	By:	/s/ Mingyue Cai	 
	姓名:	蔡明玥	 

 

乙方: 祥天石化科技(咸宁)有限公司

Party B:  Lucky Sky Petrochemical
Technology (Xianning) Co., Ltd. [Corporate Seal Affixed Herein]

 

签字:

	By:	/s/ Bin Zhou	 
	姓名:	周彬	 
	Name:	Bin Zhou	 
	职务:	法定代表人	 
	Title:	Legal Representative	 

 

丙方:绿润食品(深圳)有限公司

Party C:Lorain
Food Stuff (Shenzhen) Co., Ltd. [Corporate Seal Affixed Herein]

 

签字:

	By:	/s/ Mingyue Cai	 
	姓名:	蔡明玥	 
	Name:	Mingyue Cai	 
	职务:	法定代表人	 
	Title:	Legal Representative	 

 

    10

     

    

 

附件一

 

Exhibit A

 

授权委托书

Power of Attorney

 

本人,蔡明玥,中国公民,身份证号码为310110197803215455,系拥有绿润食品(深圳)有限公司100%的股权(”本人股权”)的股东,就本人股权,特此不可撤销地授权祥天石化科技(咸宁)有限公司 (“受托人”)在本授权委托书的有效期内行使如下权利:

 

I, Cai Mingyue, a Chinese citizen with
Chinese Identification Card No.:310110197803215455 and a holder of 100% of the entire registered capital in Lorain Food Stuff (Shenzhen)
Co., Ltd. (“My Shareholding”), hereby irrevocably authorize Lucky Sky Petrochemical Technology (Xianning) Co., Ltd.
(“Designee”) to exercise the following rights relating to My Shareholding during the term of this Power of Attorney:

 

授权受托人作为本人唯一的排他的代理人就有关本人股权的事宜全权代表本人行使包括但不限于如下的权利:1)参加绿润食品(深圳)有限公司的股东会;2)行使按照法律和绿润食品(深圳)有限公司章程规定本人所享有的全部股东权和股东表决权,包括但不限于出售或转让或质押或处置本人股权的全部或任何一部分;以及3)作为本人的授权代表指定和任命绿润食品(深圳)有限公司法定代表人(董事长)、董事、监事、总经理以及其他高级管理人员等。

 

The Designee is hereby authorized to act
on behalf of myself as my exclusive agent and attorney with respect to all matters concerning My Shareholding, including without
limitation to: 1) attend shareholders’ meetings of Lorain Food Stuff (Shenzhen) Co., Ltd.; 2) exercise all the shareholder’s
rights and shareholder’s voting rights I am entitled to under the laws of China and Articles of Association of Lorain Food
Stuff (Shenzhen) Co., Ltd., including but not limited to the sale or transfer or pledge or disposition of My Shareholding in part
or in whole; and 3) designate and appoint on behalf of myself the legal representative (chairperson), the director, the supervisor,
the chief executive officer and other senior management members of Lorain Food Stuff (Shenzhen) Co., Ltd.

 

受托人将有权在授权范围内代表本人签署股权处分合同(本人应要求作为合同方)中约定的转让合同,如期履行本人作为合同一方的与本授权委托书同日签署的股权质押合同和股权处分合同,该权利的行使将不对本授权形成任何限制。

 

Without limiting the generality of the
powers granted hereunder, the Designee shall have the power and authority under this Power of Attorney to execute the Transfer
Contracts stipulated in Share Disposal Agreement, to which I am required to be a party, on behalf of myself, and to effect the
terms of the Equity Pledge Agreement and Equity Option Agreement, both dated the date hereof, to which I am a party.

 

    11

     

    

 

受托人就本人股权的一切行为均视为本人的行为,签署的一切文件均视为本人签署,本人会予以承认。

 

All the actions associated with My Shareholding
conducted by the Designee shall be deemed as my own actions, and all the documents related to My Shareholding executed by the Designee
shall be deemed to be executed by me. I hereby acknowledge and ratify those actions and/or documents by the Designee.

 

除非祥天石化科技(咸宁)有限公司对本人发出要求更换受托人的指令,在本人为绿润食品(深圳)有限公司的股东期间,本授权委托书不可撤销并持续有效,自授权委托书签署之日起算。

 

Unless Lucky Sky Petrochemical Technology
(Xianning) Co., Ltd. issues an instruction to me to change the Designee, this Power of Attorney is coupled with an interest and
shall be irrevocable and continuously valid from the date of execution of this Power of Attorney, so long as I am a shareholder
of Lorain Food Stuff (Shenzhen) Co., Ltd.

 

本授权委托书期间,本人特此放弃已经通过本授权委托书授权给受托人的与本人股权有关的所有权利,不再自行行使该等权利。

 

During the term of this Power of Attorney,
I hereby waive all the rights associated with My Shareholding, which have been authorized to the Designee through this Power of
Attorney, and shall not exercise such rights by myself.

 

本授权委托书以中文和英文书就,中英文版本如有冲突,应以中文版为准。

 

This Power of Attorney is written in Chinese
and English; in case there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

 

	By:	/s/ Mingyue Cai	 
	姓名:	蔡明钥	 

2019年12月20日

December 20, 2019

 

 

12Exhibit
4.17

 

DESCRIPTION
OF SECURITIES

 

The
following description summarizes the material terms and provisions of Verb Technology Company, Inc.’s common stock,
preferred stock and warrants. The following description of our capital stock does not purport to be complete and is subject to,
and qualified in its entirety by, our articles of incorporation, which we refer to as the articles of incorporation, warrants,
and our amended and restated bylaws, as may be amended, which we refer to as the bylaws. The terms of our common stock, preferred
stock and warrants may also be affected by Nevada law.

 

Authorized
Capital Stock

 

Our
authorized capital stock consists of 200,000,000 shares of common stock, $0.0001 par value per share, and 15,000,000 shares of
preferred stock, $0.0001 par value per share, of which 6,000 shares have been designated Series A Convertible Preferred Stock,
or Series A Preferred Stock. As of May 5, 2020, we had 29,894,621 shares of common stock outstanding and 3,246 shares of
Series A Preferred Stock outstanding.

 

Common
Stock

 

All
outstanding shares of our common stock are fully paid and nonassessable. The following summarizes the rights of holders of our
common stock:

 

	 	●	a
    holder of common stock is entitled to one vote per share on all matters to be voted upon generally by the stockholders and
    are not entitled to cumulative voting for the election of directors;
	 	 	 
	 	●	subject
    to preferences that may apply to shares of preferred stock outstanding, the holders of common stock are entitled to receive
    lawful dividends as may be declared by our board of directors;
	 	 	 
	 	●	upon
    our liquidation, dissolution or winding up, the holders of shares of common stock are entitled to receive a pro rata portion
    of all our assets remaining for distribution after satisfaction of all our liabilities and the payment of any liquidation
    preference of any outstanding preferred stock;
	 	 	 
	 	●	there
    are no redemption or sinking fund provisions applicable to our common stock; and
	 	 	 
	 	●	there
    are no preemptive, subscription or conversion rights applicable to our common stock.

 

    	 

     

    

 

Preferred
Stock

 

All
of the preferred stock authorized in our articles of incorporation is undesignated. Our board of directors is authorized, without
further approval from our stockholders, to create one or more series of preferred stock, and to designate the rights, privileges,
preferences, restrictions, and limitations of any given series of preferred stock. Accordingly, our board of directors may, without
stockholder approval, issue shares of preferred stock with dividend, liquidation, conversion, voting, or other rights that could
adversely affect the voting power or other rights of the holders of our common stock. The issuance of preferred stock could have
the effect of restricting dividends payable to holders of our common stock, diluting the voting power of our common stock, impairing
the liquidation rights of our common stock, or delaying or preventing a change in control of us, all without further action by
our stockholders. The following is a summary of the terms and conditions of the Series A Preferred Stock.

 

Series
A Preferred Stock

 

The
rights and preferences of the Series A Preferred Stock are outlined below.

 

Rank
and Liquidation Preference

 

Shares
of Series A Preferred Stock rank prior to our common stock as to distribution of assets upon liquidation events, which include
a liquidation, dissolution or winding up of our company, whether voluntary or involuntary. The liquidation preference of each
share of Series A Preferred Stock is equal to $1,000.00, or the Series A Stated Value, plus any accrued but unpaid dividends on
the Series A Preferred Stock and any other fees or liquidated damages then due and owing under the Certificate of Designation
of Rights, Preferences, and Restrictions of Series A Convertible Preferred Stock, or the Certificate of Designations. If the assets
are insufficient to pay in full such amounts, then the entire assets to be distributed to the holders of our Series A Preferred
Stock shall be distributed pro rata among the holders of our Series A Preferred Stock in accordance with the respective amounts
that would be payable on such shares if all amounts payable thereon were paid in full.

 

Dividend
Rights

 

The
holders of Series A Preferred Stock are entitled to receive lawful dividends as may be declared by our board of directors.

 

Optional
Conversion Rights

 

Each
share of Series A Preferred Stock is convertible at the option of the holder into shares of our common stock at any time. Each
share of Series A Preferred Stock is convertible into the number of shares of common stock as calculated by dividing the Stated
Value of such share of Series A Preferred Stock by the conversion price. The conversion price was initially $1.55 per share of
Series A Preferred Stock, subject to adjustment; therefore, each share of Series A Preferred Stock was initially convertible into
approximately 645 shares of common stock, which number is equal to the quotient of the Stated Value of the Series A Preferred
Stock of $1,000.00 divided by the initial conversion price of $1.55 per share of Series A Preferred Stock. No fractional shares
or scrip representing fractional shares are to be issued upon conversion of the Series A Preferred Stock. As to any fraction of
share that the holder of Series A Preferred Stock would otherwise be entitled to purchase upon conversion, we shall, at our election,
either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the conversion
price, or round up to the next whole share.

 

    	2

     

    

 

The
holders of Series A Preferred Stock cannot convert the Series A Preferred Stock if, after giving effect to the conversion, the
number of shares of our common stock beneficially held by the holder (together with such holder’s affiliates) would be in
excess of 4.99% (or, upon election by a holder prior to the issuance of any shares, 9.99% of the number of shares of our common
stock issued and outstanding immediately after giving effect to the issuance of any shares of common stock issuance upon conversion
of the Series A Preferred Stock held by the holder).

 

We
are also prevented from issuing shares of our common stock upon conversion of the Series A Preferred Stock or exercise of the
August Warrants (as defined below), which, when aggregated with any shares of our common stock issued on or after the issuance
date and prior to such conversion date or exercise date, as applicable (i) in connection with any conversion of the Series A Preferred
Stock issued pursuant to that certain securities purchase agreement entered into on August 14, 2019 by and among us and the investors
thereto, or SPA, (ii) in connection with the exercise of any August Warrants issued pursuant to the SPA, and (iii) in connection
with the exercise of any warrants issued to any registered broker-dealer as a fee in connection with the issuance of the securities
pursuant to the SPA, would exceed 4,459,725 shares of common stock, or 19.99% Cap. This prohibition will terminate upon the approval
by our stockholders of a release from such 19.99% Cap.

 

Mandatory
Conversion Rights

 

In
the event the closing price on The NASDAQ Capital Market is 100% greater than the then-base conversion price on each trading day
for any twenty trading days during a consecutive thirty trading day period, we may, within one trading day after the later of
stockholder approval to issue a number of shares of common stock in excess of the 19.99% Cap and the date that the conversion
shares registration statement filed by us with the Securities and Exchange Commission is declared effective, notify each holder
of Series A Preferred Stock that all or part of such holder’s Series A Preferred Stock, plus all liquidated damages and
other amounts due, were converted into shares of common stock. Any mandatory conversion will be made into the number of shares
of common stock determined on the same basis as the optional conversion rights above.

 

Conversion
Price Adjustments

 

The
conversion price of the Series A Preferred Stock is subject to certain customary adjustments, including upon certain subsequent
equity sales and rights offerings. The conversion price is also subject to downward adjustments if we issue shares of our common
stock or securities convertible into or exercisable for shares of common stock, other than specified excluded securities, at per
share prices less than the then-base conversion price. In this event, the conversion price shall be reduced to then-base conversion
price.

 

    	3

     

    

 

The
conversion price is also subject to adjustment if we issue rights, options, or warrants to holders of common stock entitling them
to subscribe for or purchase shares of common stock at a price per share that is lower than the volume weighted average price
on the date for determination of stockholders entitled to receive such rights, option, or warrants. In this event, the conversion
price shall be multiplied by a fraction of which the denominator is the number of shares of common stock outstanding on the date
of issuance of such rights, options, or warrants plus the number of additional shares of common stock offered for subscription
or purchase, and the numerator shall be the number of shares of common stock outstanding on the date of issuance of such rights,
options, or warrants plus the number of shares that the aggregate offering price of the total number of shares so offered would
purchase at such volume weighted average price.

 

If
we distribute to holders of common stock evidences of our indebtedness or assets, including cash and cash dividends, or rights
or warrants to subscribe for or purchase any security, subject to certain limitations, then the conversion price shall be adjusted
by multiplying the conversion price then in effect immediately prior to the record date fixed for determination of stockholders
entitled to receive such distribution by a fraction of which the denominator shall be the volume weighted average price determined
as of the record date, and of which the numerator shall be the volume weighted average price on such record date less the then
fair market value at such record date of the portion of such assets or evidence of indebtedness or rights or warrants so distributed
applicable to one outstanding share of our common stock as determined by our board of directors in good faith.

 

In
the event of a Fundamental Transaction (as defined below) while the Series A Preferred Stock is outstanding, holders of Series
A Preferred Stock shall have the right to receive, for each share of common stock issuable upon conversion of the shares of our
Series A Preferred Stock that would have been issuable upon such conversion immediately prior to the occurrence of such Fundamental
Transaction, the number of shares of common stock of the successor or acquiring corporation or of us, if we are the surviving
corporation, and any additional consideration receivable as a result of the Fundamental Transaction by a holder of the number
of shares of common stock for which the Series A Preferred Stock is convertible immediately prior to such Fundamental Transaction.
A “Fundamental Transaction” is defined as any time while the Series A Preferred Stock is outstanding (a) we, directly
or indirectly, in one or more related transactions shall effect any merger or consolidation of us with or into another person,
(b) we, directly or indirectly, effect any sale, lease, license, assignment, transfer, conveyance, or other disposition of all
or substantially all of our assets in one or a series of related transactions, (c) any, direct or indirect, purchase offer, tender
offer, or exchange offer (whether by us or another person) is completed pursuant to which holders of our common stock are permitted
to sell, tender, or exchange their shares for other securities, cash, or property and has been accepted by the holders of a majority
of the outstanding common stock, (d) we, directly or indirectly, in one or more related transactions effect any reclassification,
reorganization or recapitalization of our common stock or any compulsory share exchange, pursuant to which the common stock is
effectively converted into or exchanged for other securities, cash or property, or (e) we, directly or indirectly, in one or more
related transactions consummate a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off, or scheme of arrangement) with another person, whereby such other person acquires
more than 50% of the outstanding shares of common stock (not including any shares of common stock held by the other person or
other persons making or party to, or associated or affiliated with the other persons making or party to, such stock or share purchase
agreement or other business combination).

 

    	4

     

    

 

Voting
Rights and Protective Provisions

 

The
holders of Series A Preferred Stock have no voting rights. However, we cannot, without the affirmative vote of the holders of
a majority of the then-outstanding shares of Series A Preferred Stock:

 

	 	●	authorize
    or create any class of stock ranking as to dividends, redemption, or distribution of assets upon a liquidation senior to,
    or otherwise pari passu with, the Series A Preferred Stock;
	 	 	 
	 	●	amend
    our articles of incorporation, or other charter documents in any manner that materially and adversely affects any rights of
    the holders;
	 	 	 
	 	●	increase
    the number of authorized shares of Series A Preferred Stock; or
	 	 	 
	 	●	enter
    into any agreement with respect to any of the foregoing.

 

As
long as any shares of Series A Preferred Stock are outstanding, unless the holders of at least 75% in Stated Value of the then-outstanding
shares of Series A Preferred Stock have otherwise given prior written consent, we cannot, directly or indirectly:

 

	 	●	other
    than permitted indebtedness, as long as 25% of the then-outstanding shares of Series A Preferred Stock issued pursuant to
    the SPA are then outstanding, enter into, create, incur, assume, guarantee, or suffer to exist any indebtedness for borrowed
    money of any kind that is or may be senior to the Series A Preferred Stock in dividend rights or liquidation preference, including,
    but not limited to, a guarantee, on or with respect to any of our property or assets now owned or hereafter acquired or any
    interest therein of any income or profits therefrom;
	 	 	 
	 	●	other
    than permitted liens, enter into, create, incur, assume, or suffer to exist any liens of any kind, on or with respect to any
    of our property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;
	 	 	 
	 	●	amend
    our charter documents, including, without limitation, our articles of incorporation and bylaws, in any manner that materially
    and adversely affects any rights of the holder;
	 	 	 
	 	●	repay,
    repurchase, or offer to repay, repurchase, or otherwise acquire more than a de minimis number of shares of our common stock,
    common stock equivalents or junior securities, other than as to (a) the conversion shares or warrant shares as permitted under
    the transaction documents and (b) repurchases of common stock or common stock equivalents of departing officers and directors,
    provided that such repurchases shall not exceed an aggregate of $100,000.00 for all officers and directors for so long as
    the Series A Preferred Stock is outstanding;
	 	 	 
	 	●	pay
    cash dividends or distributions on junior securities;
	 	 	 
	 	●	enter
    into any transaction with any affiliate of us that would be required to be disclosed in any public filing with the SEC, unless
    such transaction is made on an arm’s length basis and expressly approved by a majority of the disinterested directors
    of us (even if less than a quorum otherwise required for board approval); or
	 	 	 
	 	●	enter
    into any agreement with respect to the foregoing. 

 

    	5

     

    

 

Reservation
of Shares

 

We
initially were required to reserve 3,245,162 shares of common stock for issuance upon conversion of shares of Series A Preferred
Stock and are required to maintain a sufficient number of reserved shares of common stock to allow for the conversion of all shares
of Series A Preferred Stock.

 

Undesignated
Preferred Stock

 

The
ability to authorize undesignated preferred stock makes it possible for our board of directors to issue preferred stock with voting
or other rights or preferences that could impede the success of any attempt to acquire us. These and other provisions may have
the effect of deferring hostile takeovers or delaying changes in control or management of us.

 

Anti-Takeover
Effects of Nevada Law and Our Articles of Incorporation and Bylaws

 

Some
provisions of Nevada law, our articles of incorporation, and our bylaws contain provisions that could make the following transactions
more difficult: an acquisition of us by means of a tender offer; an acquisition of us by means of a proxy contest or otherwise;
or the removal of our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish
or could deter transactions that stockholders may otherwise consider to be in their best interest or in our best interests, including
transactions that provide for payment of a premium over the market price for our shares.

 

These
provisions, summarized below, are intended to discourage coercive takeover practices and inadequate takeover bids. These provisions
are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors. We believe
that the benefits of the increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited
proposal to acquire or restructure us outweigh the disadvantages of discouraging these proposals because negotiation of these
proposals could result in an improvement of their terms.

 

    	6

     

    

 

Undesignated
Preferred Stock. The ability of our board of directors, without action by the stockholders, to issue up to 15,000,000 shares
of preferred stock, which was previously authorized but remain undesignated, other than the Series A Preferred Stock, with voting
or other rights or preferences as designated by our board of directors could impede the success of any attempt to change control
of us. These and other provisions may have the effect of deferring hostile takeovers or delaying changes in control or management
of us.

 

Stockholder
Meetings. Our bylaws provide that a special meeting of stockholders may be called only by our president, by all of
the directors provided that there are no more than three directors, or if more than three, by any three directors, or by the holder
of a majority of our capital stock.

 

Stockholder
Action by Written Consent. Our bylaws allow for any action that may be taken at any annual or special meeting of the stockholders
to be taken without a meeting and without prior notice, if a consent in writing, setting forth the action so taken, is signed
by the holders of outstanding shares having not less than the minimum number of votes that would be necessary to authorize or
take such action at a meeting at which all shares entitled to vote thereon were present and voted.

 

Stockholders
Not Entitled to Cumulative Voting. Our bylaws do not permit stockholders to cumulate their votes in the election of directors.
Accordingly, the holders of a majority of the outstanding shares of our common stock entitled to vote in any election of directors
can elect all of the directors standing for election, if they choose, other than any directors that holders of our preferred stock
may be entitled to elect.

 

Nevada
Business Combination Statutes. The “business combination” provisions of Sections 78.411 to 78.444, inclusive,
of the Nevada Revised Statutes, or NRS, generally prohibit a Nevada corporation with at least 200 stockholders from engaging in
various “combination” transactions with any interested stockholder for a period of two years after the date of the
transaction in which the person became an interested stockholder, unless the transaction is approved by the board of directors
prior to the date the interested stockholder obtained such status or the combination is approved by the board of directors and
thereafter is approved at a meeting of the stockholders by the affirmative vote of stockholders representing at least 60% of the
outstanding voting power held by disinterested stockholders, and extends beyond the expiration of the two-year period, unless:

 

	 	●	the
    combination was approved by the board of directors prior to the person becoming an interested stockholder or the transaction
    by which the person first became an interested stockholder was approved by the board of directors before the person became
    an interested stockholder or the combination is later approved by a majority of the voting power held by disinterested stockholders;
    or
	 	 	 
	 	●	if
    the consideration to be paid by the interested stockholder is at least equal to the highest of: (a) the highest price per
    share paid by the interested stockholder within the two years immediately preceding the date of the announcement of the combination
    or in the transaction in which it became an interested stockholder, whichever is higher, (b) the market value per share of
    common stock on the date of announcement of the combination and the date the interested stockholder acquired the shares, whichever
    is higher, or (c) for holders of preferred stock, the highest liquidation value of the preferred stock, if it is higher.

 

    	7

     

    

 

A
“combination” is generally defined to include mergers or consolidations or any sale, lease exchange, mortgage, pledge,
transfer, or other disposition, in one transaction or a series of transactions, with an “interested stockholder” having:
(a) an aggregate market value equal to 5% or more of the aggregate market value of the assets of the corporation, (b) an aggregate
market value equal to 5% or more of the aggregate market value of all outstanding shares of the corporation, (c) 10% or more of
the earning power or net income of the corporation, and (d) certain other transactions with an interested stockholder or an affiliate
or associate of an interested stockholder.

 

In
general, an “interested stockholder” is a person who, together with affiliates and associates, owns (or within two
years, did own) 10% or more of a corporation’s voting stock. The statute could prohibit or delay mergers or other takeover
or change in control attempts and, accordingly, may discourage attempts to acquire us even though such a transaction may offer
our stockholders the opportunity to sell their stock at a price above the prevailing market price.

 

Nevada
Control Share Acquisition Statutes. The “control share” provisions of Sections 78.378 to 78.3793, inclusive, of
the NRS apply to “issuing corporations” that are Nevada corporations with at least 200 stockholders, including at
least 100 stockholders of record who are Nevada residents, and that conduct business directly or indirectly in Nevada. The control
share statute prohibits an acquirer, under certain circumstances, from voting its shares of a target corporation’s stock
after crossing certain ownership threshold percentages, unless the acquirer obtains approval of the target corporation’s
disinterested stockholders. The statute specifies three thresholds: one-fifth or more but less than one-third, one-third but less
than a majority, and a majority or more, of the outstanding voting power. Generally, once an acquirer crosses one of the above
thresholds, those shares in an offer or acquisition and acquired within 90 days thereof become “control shares” and
such control shares are deprived of the right to vote until disinterested stockholders restore the right. These provisions also
provide that if control shares are accorded full voting rights and the acquiring person has acquired a majority or more of all
voting power, all other stockholders who do not vote in favor of authorizing voting rights to the control shares are entitled
to demand payment for the fair value of their shares in accordance with statutory procedures established for dissenters’
rights.

 

A
corporation may elect to not be governed by, or “opt out” of, the control share provisions by making an election in
its articles of incorporation or bylaws, provided that the opt-out election must be in place on the 10th day following the date
an acquiring person has acquired a controlling interest, that is, crossing any of the three thresholds described above. We have
not opted out of the control share statutes, and will be subject to these statutes if we are an “issuing corporation”
as defined in such statutes.

 

The
effect of the Nevada control share statutes is that the acquiring person, and those acting in association with the acquiring person,
will obtain only such voting rights in the control shares as are conferred by a resolution of the stockholders at an annual or
special meeting. The Nevada control share law, if applicable, could have the effect of discouraging takeovers of us.

 

    	8

     

    

 

Amendment
of Charter Provisions. The amendment of any of the above provisions would require approval by holders of at least a majority
of the total voting power of all of our outstanding voting stock.

 

The
provisions of Nevada law, our articles of incorporation, and our bylaws could have the effect of discouraging others from attempting
hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the market price of our common stock
that often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes
in the composition of our board of directors and management. It is possible that these provisions could make it more difficult
to accomplish transactions that stockholders may otherwise deem to be in their best interests.

 

Outstanding
Warrants

 

August
2019 Warrants

 

On
August 14, 2019, we entered into the SPA with certain purchasers named therein, or the Preferred Purchasers, pursuant to which
we agreed to issue and sell to the Preferred Purchasers, in addition to shares of our Series A Preferred Stock, warrants, which
we refer to as the August Warrants, to purchase up to approximately 3.87 million shares of our common stock. We closed the offering
on August 14, 2019 and issued 5,030 shares of Series A Preferred Stock and granted the August Warrants exercisable for up to 3,245,162
shares of common stock in connection therewith. We received gross proceeds equal to $5,030,000.

 

Exercisability.
The warrants are exercisable from and after six months after the date of issuance and at any time for the five-year period from
the date of issuance. The warrants will be exercisable, at the option of each holder, in whole or in part, by delivering to us
a duly executed exercise notice accompanied by payment in full for the number of shares of our common stock purchased upon such
exercise (except in the case of a cashless exercise as discussed below).

 

Cashless
Exercise. In the event that a registration statement covering shares of our common stock underlying the warrants is not available
for the resale of such shares of our common stock underlying the warrants, the holder may, in its sole discretion, exercise the
warrant in whole or in part and, in lieu of making the cash payment otherwise contemplated to be made to us upon such exercise
in payment of the aggregate exercise price, elect instead to receive upon such exercise the net number of shares of our common
stock determined according to the formula set forth in the warrant. In no event will we be required to make any cash payments
or net cash settlement to the registered holder in lieu of issuing shares of our common stock underlying the warrants.

 

Exercise
Price. The initial exercise price per-whole share of our common stock purchasable upon exercise of the warrants was $1.88.
The exercise price is subject to appropriate adjustment in the event of certain stock dividends and distributions, stock splits,
stock combinations, reclassifications, or similar events affecting our common stock and also upon any distribution of assets,
including cash, stock, or other property to our stockholders.

 

    	9

     

    

 

Transferability.
Subject to applicable laws, the warrants may be transferred at the option of the holders upon surrender of the warrants together
with the appropriate instruments of transfer.

 

Fundamental
Transaction. If, at any time while the warrants are outstanding, (a) we consolidate or merge with or into another corporation
and we are not the surviving corporation, (b) we sell, lease, license, assign, transfer, convey, or otherwise dispose of all or
substantially all of our assets, (c) any purchase offer, tender offer, or exchange offer (whether by us or another individual
or entity) is completed pursuant to which holders of shares of our common stock are permitted to sell, tender, or exchange their
shares of our common stock for our other securities, cash, or property and has been accepted by the holders of 50% or more of
the outstanding shares of our common stock, (d) we effect any reclassification or recapitalization of shares of our common stock
or any compulsory share exchange pursuant to which the shares of our common stock are converted into or exchanged for other securities,
cash, or property, or (e) we consummate a stock or share purchase agreement or other business combination with another person
or entity whereby such other person or entity acquires more than 50% of the outstanding shares of our common stock, each, an “August
Warrant Fundamental Transaction,” then upon any subsequent exercise of the warrants, the holders thereof will have the right
to receive the same amount and kind of securities, cash, or property as it would have been entitled to receive upon the occurrence
of such August Warrant Fundamental Transaction if it had been immediately prior to such August Warrant Fundamental Transaction,
the holder of the number of warrant shares then issuable upon exercise of the warrant, and any additional consideration payable
as part of the August Warrant Fundamental Transaction.

 

Rights
as a Stockholder. Except as otherwise provided in the warrants or by virtue of such holder’s ownership of shares of
our common stock, the holder of the warrant does not have the rights or privileges of a holder of our common stock, including
any voting rights, until the holder exercises the warrant.

 

February
2020 Warrants

 

In
connection with our private placement of common stock in February 2020, or Private Placement, the accredited investors who purchased
Series A Preferred Stock pursuant to the SPA, or August 2019 Investors, and who, as of February 7, 2020, continued to own shares
of our Series A Preferred Stock (a) waived their respective rights, or the February 2020 Waiver, to participate in our Private
Placement, and (b) declined to accept the price protection rights to which they otherwise were entitled as holders of shares of
our Series A Preferred Stock. In connection with the February 2020 Waiver, we granted to each of our August 2019 Investors a five-year
common stock purchase warrant, or February 2020 Warrants, the terms of which are substantially similar to the terms of our August
2019 Warrants, with the sole material differences being the grant date and the $1.55 per-share exercise price. The initial per-share
exercise price of our August 2019 Warrants was $1.88 and, by virtue of our Private Placement, the per-share exercise price has
been modified to $1.20.

 

    	10

     

    

 

As
of May 5, 2020, we had 13,651,051 shares of our common stock underlying outstanding warrants, having a weighted-average exercise
price of approximately $2.72 per share.

 

Outstanding
Options and Awards

 

As
of May 5, 2020, we had 4,532,608 shares of our common stock underlying outstanding stock options, having a weighted-average
exercise price of approximately $1.72 per share, and 2,341,305 restricted stock awards having a weighted-average grant date fair
value of 1.40 issued under our 2019 Omnibus Incentive Plan, respectively.

 

Choice
of Forum

 

Our
bylaws provide that, unless we consent in writing to the selection of an alternative forum, the courts in the State of Nevada
shall be the exclusive forum for any litigation relating to our internal affairs, including, without limitation: (a) any derivative
action brought on behalf of us, (b) any action asserting a claim for breach of fiduciary duty to us or our stockholders by any
current or former officer, director, employee, or agent of us, or (c) any action against us or any current or former officer,
director, employee, or agent of us arising pursuant to any provision of the NRS, the articles of incorporation, or the bylaws.

 

Transfer
Agent and Registrar 

 

Our
transfer agent and registrar for our common stock is VStock Transfer, LLC, 18 Lafayette Place, Woodmere, New York 11598. Its telephone
number is 855-9VSTOCK.

 

Listing

 

Shares
of our common stock are being traded on The NASDAQ Capital Market under the symbol “VERB.” Our common stock purchase
warrants are being traded on The NASDAQ Capital Market under the symbol “VERBW.”

 

    	11

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