Document:

Exhibit 10.1

 

COMMERCIAL LOAN AGREEMENT

 

THIS COMMERICAL LOAN
AGREEMENT (this “Agreement”) is made as of this 11th day of March 2021 (“Effective Date”),
by and between Sysorex, Inc., a Nevada corporation having an address 13880 Dulles Corner Lane, Ste. 175, Herndon, VA 20171 (“Borrower”)
and Quantum Lexicon, LLC, a Delaware limited liability company, having an address at 16192 Coastal Highway, Lewes, DE 19958 (the
“Lender”). The Borrower and Lender are individually referred to herein as a “party” and collectively
as the “parties”.

 

RECITALS

 

WHEREAS, the Lender
has agreed to lend the Borrower the principal amount of $125,000 at an interest rate of 1% per month and a term of 90 days (“Loan”).

 

WHEREAS, the Borrower
has agreed to secure full performance of the obligations set forth in the Loan Documents with a pledge of the that number of shares
of the Borrower’s common stock equal to three hundred percent of the Loan Amount (“Collateral”). The terms
of the pledge shall be set forth in the Stock Pledge Agreement included herewith.

 

WHEREAS, this Agreement,
the Promissory Note, the Stock Pledge Agreement and any ancillary documents related thereto shall hereinafter be referred to as
the “Loan Documents” and no general reference to the same used herein or in the Promissory Note or Stock Pledge
Agreement shall invalidate the obligations of the Borrower set forth in this Agreement, the Promissory Note, the Stock Pledge Agreement
and any ancillary documents related thereto.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements herein contained, the parties hereto agree as follows:

 

1. Incorporation
of Recitals and Exhibits. Each of the Recitals above and all Exhibits, and other instruments referred to in this Agreement
are hereby incorporated into this Agreement as though set forth in full. Provisions set forth in the Recitals have the same force
and effect as any other provisions of this Agreement.

 

2. The Loan.
Subject to all of the terms and conditions of this Agreement, the Promissory Note and the Stock Pledge Agreement, Lender agrees
to lend to Borrower and Borrower agrees to borrow from Lender the Principal Amount defined in the Promissory Note.

 

3. The Promissory
Note; Stock Pledge Agreement. The Borrower shall execute this Agreement, the Promissory Note and the Stock Pledge Agreement
attached hereto and deliver it to Lender.

 

    Page 1 of 18

     

    

 

4. Representations,
Warranties and Covenants. Borrower makes the following representations and warranties and covenants to the Lender, all of which
shall survive Closing:

 

(a) Borrower
is a corporation, validly formed and validly existing under the laws of the state of its incorporation. Borrower has full power
and authority to execute, deliver and perform the obligations and carry out the duties imposed upon Borrower by the Loan Documents,
and Borrower has taken all actions necessary to carry out Borrower’s obligations and duties in connection with the Loan.

 

(b) The individual
executing the Loan Documents is an individual having full power and authority to execute and deliver the Loan Documents on behalf
of Borrower, and to execute, deliver and perform the obligations and carry out the duties imposed upon the Borrower by the Loan
Documents, and Borrower has taken all action necessary to carry out Borrower’s obligations and duties in connection with
the Loan.

 

(c) Each of the Loan Documents
executed by the Borrower have been duly and properly executed and delivered.

 

(d) To the
Borrower’s actual knowledge, each of the Loan Documents constitute legal, valid and binding obligations of the Borrower,
and are enforceable in accordance with their respective terms, except as such enforceability may be affected by bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of creditor’s rights generally, and limitations imposed
by general principles of equity.

 

(e) No provision
of any deed of trust, mortgage, indenture, agreement, contract, or other instrument requires the consent or authorization of any
other person, firm or corporation as a condition precedent to the consummation of the transactions contemplated herein or in any
of the other Loan Documents, or if required, such consents or authorizations have been obtained.

 

(f) No approvals,
consents or permits are required in connection with the execution, delivery and performance by the Borrower of this Agreement or
any of the other Loan Documents, or in connection with the performance or consummation by the Borrower, of any of the transactions
contemplated hereby or thereby, or if required, such approvals, consents or permits have been obtained.

 

(g) The execution,
delivery and performance of any of the Loan Documents, the granting of the security interests therein (either stated herein or
hereinafter required), and the compliance with the provisions of Loan Documents, (i) have not constituted (and will not, upon the
giving of notice or lapse of time or both, constitute) either (A) a breach or default under any organizational document of Borrower,
or any indenture, mortgage, deed of trust, franchise, permit, license, note or any other agreement or instrument to which the Borrower
is a party, or any of the Borrower’s respective properties or assets may be bound or affected, or (B) a violation of any
applicable law, court order, writ, injunction or other decree which may affect the Borrower and (ii) will not result in a lien
or privilege against any property or assets of the Borrower, other than liens in favor of Lender pursuant to the Loan Documents
(either stated herein or hereinafter required).

 

    Page 2 of 18

     

    

 

(h) No actions,
suits or proceedings are pending, or to the Borrower’s actual knowledge are threatened against the Borrower which might affect
the ability of the Borrower to perform their respective obligations pursuant to and as contemplated by the terms and provisions
of the Loan Documents.

 

(i) Neither
the Borrower nor or any of its affiliates have dealt with any brokers in connection with this Loan transaction, and no brokerage
fees or commissions are payable by or to any person in connection with any of the Loan Documents.

 

(j) No aspect of the Loan transaction
violates or will violate any usury laws or laws regarding the validity of agreements to pay interest in effect on the date hereof.

 

(k) The information
provided by the Borrower to Lender in connection with the Loan does not include an untrue statement of a material fact or omit
to state any material fact or any other fact which is necessary to make the statements contained therein (in the light of the circumstances
under which they were made) not misleading.

 

(l)
Neither the Borrower nor any of its affiliates is subject to sanctions of the United States government or in violation of any
laws relating to terrorism or money laundering, including Executive Order No. 13224, 66 Fed. Reg. 49079 (published September
25, 2001) (the “Terrorism Executive Order”) or a person similarly designated under any related enabling
legislation or any other similar executive order (collectively with the Terrorism Executive Order, the “Executive
Orders”), the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001 (Public Law 107-56, the “Patriot Act”), any sanctions and regulations promulgated
under authority granted by the Trading with the Enemy Act, 50 U.S.C. App. 1-44, as amended from time to time, the
International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-06, as amended from time to time, the Iraqi
Sanctions Act, Publ. L. No. 101-513; United Nations Participation Act, 22 U.S.C. § 287c, as amended from time to time,
the International Security and Development Cooperation Act, 22 U.S.C. § 2349 aa-9, as amended from time to time, The
Cuban Democracy Act, 22 U.S.C. §§ 6001-10, as amended from time to time, The Cuban Liberty and Democratic
Solidarity Act, 18 U.S.C. §§ 2332d and 2339b, as amended from time to time, and The Foreign Narcotics Kingpin
Designation Act, Publ. L. No. 106-120, as amended from time to time.

 

(m) Neither
the Borrower nor any of its affiliates is (i) listed on the Specially Designated Nationals and Blocked Persons List maintained
by the Office of Foreign Assets Control, Department of the Treasury, and/or on any other similar list (the “Lists”)
maintained by such office pursuant to any authorizing statute, Executive Order or regulation or (ii) a Person (a “Designated
Person”) either (A) included within the term “designated national” as defined in the Cuban Assets Control
Regulations, 31 C.F.R. Part 515, or (B) designated under Sections 1(a), 1(b), 1(c) or 1(d) of the Terrorism Executive Order or
a Person similarly designated under any related enabling legislation or any other similar Executive Orders.

 

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(n)
Neither the Borrower nor any of is affiliates are knowingly or will knowingly (i) conduct any business or engage in making or
receiving any contribution of funds, goods or services to or for the benefit of any Designated Person, (ii) deal in, or
otherwise engage in, any transaction relating to any property or interest in property blocked pursuant to any Executive Order
or the Patriot Act, or (iii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of
evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Executive Order or the Patriot Act.

 

(o) To the Borrower’s actual
knowledge, the Borrower has procured and properly maintained all licenses or permits necessary to operate their business.

 

(p) The Borrower
hereby agrees to protect, indemnify, defend and save harmless the Lender and its affiliates, including, but not limited to, its
shareholders, directors, managers, members, officers, agents, attorneys and employees from and against any and all injuries, damages,
losses, liabilities and expenses of any kind or nature and from any suits, claims or demands, including legal fees and expenses,
by reason of, or as a result of any violation of its obligations arising from the Loan Documents.

 

5. Event of Default. An “Event
of Default” means the occurrence of any one or more of the following events:

 

(a) the failure by the Borrower
to make any payment required under the Promissory Note when due;

 

(b) the failure
of the Borrower to observe or perform its obligations under the Loan Documents, which failure continues beyond the expiration of
the applicable notice and cure period;

 

(c) the failure of the Borrower
to convey the Collateral to the Lender after the expiration of any cure period under the Promissory Note;

 

(d) any representation or warranty
contained in the Loan Documents shall have been false or misleading in any material respect when made;

 

(e) if
the Borrower (i) shall commence any case, proceeding or other action under any existing or future law of any jurisdiction,
domestic or foreign, relating to bankruptcy, insolvency, conservatorship or relief of debtors, seeking to have an order for
relief entered with respect to it, or seeking to adjudicate it bankrupt or insolvent, or seeking relief with respect to it or
its debts, or seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all
or any substantial part of its assets; (ii) shall make a general assignment for the benefit of its creditors; or (iii) shall
have commenced against it any case, proceeding or other action of a nature referred to in clause (i) above which results in
the entry of an order for relief or any such adjudication or appointment or remains undismissed, undischarged or unbonded for
a period of sixty (60) days; (iv) shall have commenced against it any case, proceeding or other action seeking issuance of a
warrant of attachment, execution, restraint or similar process against all or any substantial part of its assets which
results in the entry of any order for any such relief which shall not have been vacated, discharged, or stayed or bonded
pending appeal within sixty (60) days from the entry thereof; (v) shall take any action that results in a stop transfer order
being placed on the Collateral; (vi) shall take any action to further encumber the Collateral in any respect; (vii) shall
take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth
in clause (i) through (v vii) above; or (viii) shall generally not, or shall be unable to, or shall admit in writing its
inability to, pay its debts as they become due.

 

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6. Notice and Cure.
Borrower shall be entitled to notice and (i) in the case of covenants which can be cured by the payment of money, ten (10) days
from such notice to cure such covenant, and (ii) in the case of other covenants, thirty (30) days from such notice to cure failure
to perform. If a failure to perform which cannot be cured by the payment of money is susceptible of cure, but cannot be cured within
thirty (30) days from notice through the exercise of reasonable diligence, then, so long as the Borrower commences cure within
such thirty (30)-day period, such failure remains susceptible to cure, and the Borrower diligently pursues cure and completes such
cure within sixty (60) days of receipt of notice of default, such failure shall not be deemed to create an Event of Default.

 

7. The Lender’s
Remedies. If an Event of Default shall occur, the Lender shall have all rights and remedies available to it or for its benefit
under the Loan Documents or otherwise at law and in equity and the Lender shall have no further obligation to perform its obligations
under any of the Loan Documents. The Borrower shall not interfere with the exercise by the Lender of any of its rights and remedies
under the Loan Documents, including but not limited to the issuance of the Collateral to and in the name of Lender or assigns and
shall fully cooperate with the Lender in the exercise of the Lender’s rights.

 

8. Miscellaneous.

 

(a) Relationship
of the Borrower and the Lender. The relationship between the Borrower and the Lender is solely that of debtor and creditor.
The Lender has no fiduciary or other special relationship with the Borrower, is not a partner or joint venturer of the Borrower
and is not an agent of the Borrower. No term of the Loan Documents shall be construed as creating any relationship between the
Borrower on one hand and the Lender on the other hand, to be anything other than that of debtor and creditor.

 

(b) No
Lender Obligations. By accepting or approving anything required to be observed, performed or fulfilled or to be given to the
Lender pursuant to the Loan Documents, including without limitation, any officer’s certificate, balance sheet, statement
of profit and loss or other financial statement, the Lender shall not be deemed to have warranted, consented to, or affirmed the
sufficiency, the legality or effectiveness of same, and such acceptance or approval thereof shall not constitute any warranty or
affirmation with respect thereto by the Lender.

 

(c) Survival
of Covenants, Representations and Warranties. All covenants, representations and warranties contained in the Loan
Documents or made in writing by or on behalf of the Borrower in connection with the transactions contemplated by this
Agreement shall survive for the duration of any statutes of limitation applicable thereto, the execution and delivery of this
Agreement, the Promissory Note, the Stock Pledge Agreement, any ancillary document to the Loan Documents, and the funding of
the Loan, any investigation at any time made by the Lender or on the Lender’s behalf, and any disposition of or payment
on the Promissory Note.

 

    Page 5 of 18

     

    

 

(d) Severability.
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity
or enforceability of such provisions in any other jurisdiction.

 

(e) Amendment,
Waiver, Entire Agreement. This Agreement may be amended, and waivers or consents to departures from the provisions hereof may
be given, only in a writing signed by the party against which enforcement is sought. The Loan Documents contain the entire agreement
and understanding between the Lender and the Borrower and supersede all prior agreements and understandings relating to the subject
matter hereof.

 

(f) Descriptive
Headings; Interpretation. The headings in this Agreement are for purposes of convenience only and shall not be used in construing
or interpreting this Agreement. References to an “Exhibit” are, unless otherwise specified, to an Exhibit attached
to this Agreement. References to an “Article” or “Section” are, unless otherwise specified, to an “Article”
or “Section” of this Agreement, as the case may be. Notwithstanding that this Agreement was initially prepared by the
Lender’s counsel, this Agreement has been reviewed and negotiated by competent counsel on behalf of the Borrower. The parties
to this Agreement agree that the Loan Documents shall not be construed against the Lender as a result of this Agreement having
been so prepared by Lender’s legal counsel. If the Borrower consists of more than one person or party, the obligations and
liabilities of each such person or party shall be joint and several.

 

(g) Successors
and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include
the successors and assigns of such party, and all covenants, promises and agreements by or on behalf of the respective parties
which are contained in this Agreement shall bind and inure to the benefit of the successors and assigns of all parties originally
benefited thereby. The terms and provisions of the Loan Documents shall inure to the benefit of and shall be binding upon any assignee
or transferee of the Lender, and in the event of such transfer or assignment, the rights and privileges herein conferred upon the
Lender shall automatically extend to and be vested in, and become an obligation of, such transferee or assignee, all subject to
the terms and conditions hereof. In connection therewith, any such transferee or assignee may disclose all documents and information
which such transferee or assignee now or hereafter may have relating to this Loan transaction. Notwithstanding the foregoing, the
Loan is personal to the Borrower and the Borrower is prohibited from assigning or transferring their rights and obligations under
the Loan Documents without the express written consent of Lender, which consent shall not be unreasonably withheld.

 

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(h) Governing
Law. THIS AGREEMENT, THE PROMISSORY NOTE AND ALL OTHER INSTRUMENTS EVIDENCING AND SECURING THE LOAN SECURED HEREBY WERE
NEGOTIATED IN THE STATE OF DELAWARE AND MADE BY DEBTOR AND ACCEPTED BY LENDER IN THE STATE OF DELAWARE, AND THE PROCEEDS OF
THE LOAN SECURED HEREBY WERE DISBURSED FROM DELAWARE, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE
PARTIES AND THE UNDERLYING TRANSACTIONS EMBODIED HEREBY. IN ALL RESPECTS, INCLUDING, WITHOUT LIMITATION, MATTERS OF
CONSTRUCTION AND PERFORMANCE OF THIS AGREEMENT AND THE SECURED OBLIGATIONS ARISING HEREUNDER, THIS AGREEMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF DELAWARE APPLICABLE TO CONTRACTS MADE AND TO
BE PERFORMED IN SUCH STATE (WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS) AND ANY APPLICABLE LAWS OF THE UNITED STATES
OF AMERICA. THE LAW OF THE STATE OF DELAWARE SHALL GOVERN THE VALIDITY AND ENFORCEABILITY OF THE OBLIGATION ARISING UNDER
THIS AGREEMENT AND THE LOAN DOCUMENTS, AND THE INDEBTEDNESS OR OBLIGATIONS ARISING HEREUNDER AND THEREUNDER.

 

(i) Waiver
of Jury Trial. The Lender and the Borrower hereby waive, to the fullest extent permitted by law, the right to trial by jury
in any action, proceeding or counterclaim, whether in contract, tort or otherwise, in connection with, or relating directly or
indirectly to the Loan Documents.

 

(j) Service
of Process. The Borrower consents to process being served in any suit, action or proceeding hereunder by the mailing of a copy
thereof by registered or certified mail, postage prepaid, return receipt requested, to the Borrower at its address set forth above
or to any other address which the Borrower shall have designated by written notice to the Lender. Nothing herein shall affect the
rights of the Lender to serve process in any manner permitted by law.

 

(k) Notices,
Etc. Any notice, demand or other communication under the Loan Documents shall be in writing and shall be deemed delivered on
the earlier to occur of (i) receipt or (ii) the date of delivery, refusal or non-delivery indicated on the return receipt, if deposited
in a United States Postal Service depository, postage prepaid, sent registered or certified mail, return receipt requested, or
if sent via a recognized commercial courier service providing for a receipt, addressed to the party to receive the same at the
address of such party set forth above or, in each case, at such other address, or to the attention of such other officer, as the
Borrower or the Lender, as the case may be, shall have furnished to the other party in writing.

 

(l) Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, and it shall
not be necessary in making proof of this Agreement to produce or account for more than one such counterpart.

 

(m) Limitation
on Liability of the Lender and Others. The Borrower’s sole recourse and remedy for any default on the part of any
person under the Loan Documents shall be limited to the Principal Amount (as defined in the Promissory Note) of the Loan.
Borrower shall have no recourse against the Collateral or any conveyance thereof. Neither the Lender, nor any of its agents
or representatives, or any officer, director, shareholder, partner, agent, principal, heir, estate, attorney, successor or
assign of any of the foregoing shall have any personal liability in any respect under this Agreement.

 

(n) Attorneys
Fee; Legal Fees. In the event of a dispute with regard to the Loan Documents, the costs, fees and expenses of the prevailing
party shall be borne by the non-prevailing party within five (5) business days of any final determination ordered or agreed upon
by a court, mediator, or arbitrator having jurisdiction over such dispute. The parties to the Loan Documents shall bear the cost
of their respective legal fees with regard to the negotiation, preparation and consummation of the Loan Documents.

 

[Signature Page Follows]

 

[The Remainder of this Page is Intentionally
Blank]

 

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WHEREAS, the duly authorized representatives
of the Lender and Borrower have executed this Agreement as of the date first set forth above.

 

BORROWER:

 

	Sysorex, Inc.	 
	 	 	 
	By:	/s/ Zaman Khan	 
	Name:	Zaman Khan	 
	Title:	Chief Executive Officer	 
	 	 	 
	LENDER:	 
	 	 
	Quantum Lexicon, LLC	 
	 	 	 
	By:	/s/ Wayne Wasserberg	 
	Name:	Wayne Wasserberg	 
	Title:	Manager	 

 

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SECURED PROMISSORY NOTE

 

 

 

Borrower: Sysorex, Inc.

 

Lender: Quantum Lexicon, LLC

 

	Date: March 11, 2021	Interest Rate: 1% per month

 

 

 

PROMISE TO PAY. Sysorex, Inc., a
Nevada corporation having an address 13880 Dulles Corner Lane, Ste. 175, Herndon, VA 20171 (“Borrower”) promises
to pay to the order of Quantum Lexicon, LLC, a Delaware limited liability company (“Lender”), without setoff,
in lawful money of the United States of America, the principal amount of One Hundred Twenty-Five Thousand and 00/100 Dollars ($125,000)(“Principal
Amount”), together with interest at the rate of One Percent (1%) on the unpaid outstanding Principal Amount of this Promissory
Note (“Interest”). Interest shall accrue and compound upon the unpaid balance of this Promissory Note monthly.

 

COLLATERAL. This Promissory Note
is secured by security interest in and stock pledge of the that number of shares of the Borrower’s common stock equal to
three hundred percent of the Principal Amount and accrued Interest currently outstanding from time to time (“Collateral”).

 

REPAYMENT. Borrower shall make a
single balloon payment, which shall include the Principal Amount, accrued Interest and any incurred fees, expenses or penalties
on or before the Maturity Date (defined herein). Payment shall be made as directed by the Lender.

 

MATURITY DATE. The Principal Amount,
accrued Interest and any incurred fees, expenses or penalties must be paid in full on or before June 9, 2021 (“Maturity
Date”). Failure to pay the Principal Amount, accrued Interest, incurred fees, expenses or penalties on the Maturity Date
shall constitute an Event of Default (as defined in the Loan Agreement and/or Stock Pledge Agreement) and the Lender shall have
all rights and remedies set forth herein or available at law or equity.

 

BANK INFORMATION; WIRE INSTRUCTIONS.
All amounts due hereunder shall be payable to the Lender at its direction.

 

MAXIMUM INTEREST AMOUNT. Any amount
assessed or collected as interest under the terms of this Promissory Note will be limited to the maximum amount of interest allowed
by state or federal law, whichever is greater. Amounts collected in excess of the maximum lawful amount will be applied first to
the unpaid Principal Amount of the Promissory Note and any remainder will be paid to the Lender as an origination fee.

 

PREPAYMENT. The Borrower may prepay
the Principal Amount plus accrued Interest at any time.

 

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DEFAULT. Each of the following shall constitute an event
of default (“Event of Default”) under this Promissory Note:

 

a) Borrower fails to make any payment
when due under this Promissory Note;

 

b) Borrower fails to cooperate with the
Lender in perfecting the Lender’s security interest in the Collateral;

 

c) Borrower or its transfer agent fails
to execute the SYSX Corporate Instruction Letter included within Loan Documents; or

 

d) Borrower fails to do anything required
of Borrower as set forth under the Loan Documents (as defined in the Loan Agreement).

 

If the Borrower fails to make payment according
to the terms set forth herein, the parties hereby acknowledge that Interest on the Principal Amount shall accrue at a rate of 18%
per annum, compounded annually, and that the Lender shall have the right to exercise its remedies under this Promissory Note, the
Loan Agreement, the Stock Pledge Agreement or in law or equity.

 

OPPORTUNITY TO CURE. Upon the
occurrence of an Event of Default, Borrower shall be entitled to a limited opportunity to cure. If Borrower defaults upon
this Promissory Note, either party may notify the other that the Borrower has triggered and Event of Default and the
reasonable particulars of such default. Receipt of notice shall be deemed received one day from the date upon which the
written notice is sent to the above referenced email addresses. Borrower shall have five (5) calendar days after either
sending or receiving such written notice to either cure the Event of Default or provide the Lender notice that the entire
Principal Amount, accrued Interest, expenses, fees or penalties has been paid.

 

GOVERNING LAW. This Promissory Note
will be governed by, construed and enforced in accordance with federal law and the laws of the State of Delaware. This Promissory
Note has been accepted by Lender in the State of Delaware.

 

CHOICE OF VENUE. If there is a lawsuit,
Borrower agrees upon Lender’s request to submit to the jurisdiction of the courts of Kent County, State of Delaware.

 

DISHONORED ITEM FEE. Borrower will
pay a fee to Lender of $1,000.00 if Borrower makes a payment on the Loan (as defined in the Loan Agreement) and the check or preauthorized
charge with which Borrower pays is dishonored.

 

SUCCESSOR INTERESTS. The terms of
this Promissory Note shall be binding upon Borrower and shall inure to the benefit of Lender and its successors and assigns.

 

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	Borrower’s Initials	NO ORAL AGREEMENTS. This written agreement is the final expression of the agreement between Lender and Borrower and may not be contradicted by evidence of any prior oral agreement or of a contemporaneous oral agreement between Lender and Borrower.
	 	 
	Lender’s Initials

                                                                        

                                                                       
	By initialing the boxes to the left, Lender and Borrower affirm that no unwritten oral agreement exists between them.

 

[Signature Page Follows]

 

[The Remainder of This Page is Intentionally
Blank]

 

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PRIOR TO SIGNING THIS PROMISSORY NOTE,
BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS PROMISSORY NOTE. BORROWER AGREES TO THE TERMS OF THE PROMISSORY NOTE. BORROWER
ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE.

 

BORROWER:

 

	Sysorex,
    Inc.	 
	 	 	 
	By:	/s/
    Zaman Khan	 
	Name:	Zaman
    Khan	 
	Title:	Chief
    Executive Officer	 
	 	 	 
	LENDER:	 
	 	 
	Quantum
    Lexicon, LLC	 
	 	 	 
	By:
    	/s/
    Wayne Wasserberg	 
	Name:
    	Wayne
    Wasserberg	 
	Title:
    	Manager	 

 

    Page 12 of 18

     

    

 

 

 

STOCK PLEDGE AGREEMENT

 

 

 

THIS STOCK PLEDGE AGREEMENT
(this “Agreement”) is made as of this 11th day of March 2021 (“Effective Date”),
by Sysorex, Inc., a Nevada corporation having an address 13880 Dulles Corner Lane, Ste. 175, Herndon, VA 20171 (“Pledgor”)
for the benefit of Quantum Lexicon, LLC, a Delaware limited liability company, having an address at 16192 Coastal Highway, Lewes,
DE 19958 (“Pledgee”).

 

RECITALS:

 

WHEREAS, the Pledgor
has executed a Loan Agreement and Promissory Note (the “Note”) in the amount of One Hundred Twenty-Five Thousand
and 00/100 Dollars ($125,000), on even date herewith for the benefit of Pledgee (“Loan”).

 

WHEREAS, in order to
induce the Lender into giving the Loan, the Pledgor has agreed to grant a security interest in and stock pledge of the that number
of shares of Sysorex, Inc.’s common stock equal to three hundred percent of the Principal Amount and accrued Interest currently
outstanding from time to time under the Loan (“Common Stock”), to Pledgee.

 

WHEREAS, in connection
with this Agreement, the Pledgor shall execute and deliver to the Pledgee and the Pledgor’s transfer agent Computershare,
Inc. that certain SYSX Corporate Instruction Letter.

 

WHEREAS, the Pledgor
has agreed to pledge to the Pledgee the Common Stock, on the terms and conditions set forth below, to secure the full performance
of the Pledgor’s obligations under the Note and this Agreement.

 

AGREEMENT:

 

NOW, THEREFORE, in
consideration of the matters described in the foregoing Recitals, which Recitals are incorporated herein and made a part hereof,
and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Pledgor hereby agrees
as follows:

 

1. Definitions.

 

(a) Certificates.
The term “Certificates” means the certificates evidencing ownership of the Collateral, and includes without limitation
direct registration book entry statements.

 

(b) Collateral.
The term “Collateral” means the Common Stock.

 

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(c) The Company. The term “Company”
means Sysorex, Inc., a Nevada corporation.

 

(d) Cure Period. The
term “Cure Period” shall have the meaning set forth in the Note.

 

(e) Default or Event of Default. The
term “Default” and “Event of Default” shall have the meanings set forth in the Loan Agreement and the Note.

 

(f) Loan Documents. The term “Loan
Documents” shall have the meaning set forth in the Loan Agreement entered into on a date even herewith.

 

(g) Note.
The term “Note” means that certain Secured Promissory Note dated March 11, 2021, the amount of One Hundred Twenty-Five
Thousand and 00/100 Dollars ($125,000), tendered by the Pledgor to the Pledgee.

 

2. Pledge of Shares
of Common Stock and Creation of Security Interest. The Pledgor pledges the Collateral to the Pledgee to secure the full and
punctual payment and discharge of the Note, and grants to the Pledgee a continuing security interest in the Collateral.

 

3. Covenants and Warranties
of Pledgor. The Pledgor covenants and warrants as follows:

 

(a) Payment of Indebtedness;
Performance under Loan Documents. The Pledgor will promptly pay the Note amounts when due and will discharge its duties
and obligations under the Loan Documents. In doing so, the Pledgor shall comply fully with all terms and provisions of the Note,
the Loan Agreement and this Agreement, and any other related documents;

 

(b) Ownership of Collateral. The Pledgor
has good and marketable title to the Collateral, free from prior liens, encumbrances, or pledges of any kind;

 

(c) Liens. The Pledgor will
neither create nor permit the creation of any lien or other encumbrance of the Collateral without Pledgee’s prior written
consent;

 

(d) Transfers. The Pledgor and
Pledgee will neither make nor permit any transfer of the Collateral, except as provided in this Agreement, without each party’s
prior written consent;

 

(e) Transfer Agent.
The Pledgor shall agree to the administrative requirements of Pledgor’s transfer agent with regard to actions necessary to
perfect Pledgee’s security interest in the Collateral; and

 

(f) Perfection of
Security Interest. The Pledgor will take all actions required by Pledgee in order to perfect Pledgee’s security interest
in the Collateral, including but not limited to, permitting the Pledgee to file one or more UCC-1 financing statement covering
the Collateral and executing and delivering a stock power and/or Certificates evidencing in the Common Stock to Pledgee’s
attorney to hold in escrow until full performance of the Loan Agreement and Note at the request of the Pledgee.

 

    Page 14 of 18

     

    

 

(g) Reservation of Shares of Common Stock.
Pledgor shall direct its transfer agent to reserve from its capital stock that number of shares of Common Stock covering the Collateral.

 

(h) SYSX Corporate
Instruction Letter. Pledgor shall execute and direct its transfer agent Computershare, Inc. to execute that certain SYSX Corporate
Instruction Letter and deliver it to Pledgee at closing of the Loan.

 

4. Duties of Pledgee.
The Pledgee covenants and warrants as follows:

 

(a) Return of Collateral.
The Pledgee shall ensure the return of any Collateral received to the Pledgor upon the complete and satisfactory performance of
the Note and the Loan Documents;

 

(b) Protection of
Collateral. Pledgee shall not sell the Collateral or engage in any acts which will cause or contribute to the depreciation
of the value of the Collateral, other than to take action necessary to levy upon the Collateral pursuant to a Default; and

 

(c) Release of Security
Interest. Upon full satisfaction of the Loan Agreement and Note, the Pledgee, assuming it has filed a UCC-1, will file a UCC-3
releasing its security interest in the Collateral and will provide the Pledgor a copy of the lien release.

 

5. Exercise of Shareholder Rights.

 

(a) Receipt of Dividends
and Distributions. As long as the Pledgor is not in Default, the Pledgor shall have the right to receive and retain any dividends
or other distributions approved and paid on the Collateral.

 

(b) Right to Vote.
As long as the Pledgor is not in Default, and assuming the shares evidencing the Collateral have been issued and are outstanding,
the Pledgor may vote the Collateral for all purposes allowed within the restrictions set by this Agreement, and related Loan Documents.

 

(c) Compliance with
Securities Laws. The requirements of the U.S. securities laws, or other applicable state securities laws, may limit
the Pledgee’s actions if the Pledgee elects, following a Default, to dispose of any part of the Collateral, and also may limit
the subsequent transferee’s ability to transfer the Collateral. Accordingly, the Pledgee agrees that if the Pledgee sells the Collateral
at any public or private sale, the Pledgee will only effect that the sale in accordance with applicable securities laws.

 

6. Default and Return of Collateral.

 

(a) Notice of
Default and Cure. The Pledgee shall deliver notice of any Default to the Pledgor. The Pledgor shall have the right
to cure any Default as set forth under the Loan Agreement and Note. If the Pledgor fails to cure a Default as described in
the Loan Agreement and/or Note, then, after expiration of such applicable cure period, the Pledgee may pursue any and all
remedies provided in this Agreement, including but not limited to, taking title to the Collateral and noticing the
Pledgor’s transfer agent that an uncured Event of Default has occurred and that the shares evidencing the Collateral
are to be issued to the Pledgee or assigns as set forth herein.

 

    Page 15 of 18

     

    

 

(b) Pledgee May Register
Shares on Pledgor’s Books. Should a Default occur, upon expiration of any applicable cure period, the Pledgee may immediately
cause the Collateral to be issued and transferred to the Pledgee’s name on the ownership records of the Company and may exercise
any right normally incident to the ownership of the Collateral.

 

(c) Sale of Collateral. Upon the transfer
of the Collateral the Pledgee, the Pledgee may sell all or any part of the Collateral at public or private sale.

 

(d) Remedies Cumulative.
Upon Default, the Pledgee shall have all rights available to the Pledgee at law or in equity, including all rights available under
the Commercial Code of Delaware or Nevada, as applicable with regard to the Common Stock, and all rights and remedies granted under
this Agreement, the Note, and any related Loan Documents. These rights and remedies shall be cumulative and may be exercised singly
or concurrently with all other rights and remedies the Pledgee may have.

 

7. Termination of
Agreement. This Agreement shall remain in effect until the obligations under the Note and Loan Agreement have been discharged
in full, at which time it shall terminate, and the Pledgee shall return the Collateral to the Pledgor or its assigns.

 

8. Miscellaneous.

 

(a) Waiver.
No right or obligation under this Agreement will be deemed to have been waived unless evidenced by a writing signed by the party
against which the waiver is asserted, or by its duly authorized representative. Any waiver will be effective only with respect
to the specific instance involved and will not impair or limit the right of the waiving party to insist upon strict performance
of the right or obligation in any other instance, in any other respect, or at any other time.

 

(b) Notice. Any notice or other
communication required or permitted under this Agreement shall be sent in accordance with the notice provision of the Loan Agreement.

 

(c) Modifications to be in Writing.
To be effective, any modification to this Agreement must be in writing signed by all parties to the Agreement.

 

(d) Agreement Binding
upon Successors and Assigns. This Agreement shall bind the Pledgor and its successors and assigns. All rights, privileges,
and powers granted to the Pledgee under this Agreement shall benefit the Pledgee and its successors and assigns.

 

(e) Assignment of
Agreement. At any time, the Pledgee may assign or transfer any of its rights or powers under this Agreement to any person or
entity. The Pledgor may not transfer its rights, duties, or obligations under this Agreement without the prior written consent
of the Pledgee.

 

    Page 16 of 18

     

    

 

(f) Further Assurances.
Both the Pledgor and the Pledgee agree to take any further actions and to make, execute, and deliver any further written instruments
which may be reasonably required to carry out the terms, provisions, intentions, and purposes of this Agreement.

 

(g) Attorneys’ Fees
and Costs. If the Pledgor or the Pledgee institutes legal proceedings, to settle any controversy arising under this
Agreement, then the prevailing party shall be entitled to reasonable attorney’s fees and costs.

 

(h) Governing Law.
This Agreement shall be enforced, governed, and construed in all respects in accordance with the substantive and procedural laws
of the State of Delaware, United States of America.

 

(i) Severability.
If any provision of this Agreement or any application of any provision is determined to be unenforceable, the remainder of this
Agreement shall be unaffected. If the provision is found to be unenforceable when applied to particular persons or circumstances,
the application of the provision to other persons or circumstances shall be unaffected.

 

(j) Headings.
Headings used in this Agreement have been included for convenience and ease of reference only and will not in any manner influence
the construction or interpretation of any provision of this Agreement.

 

(k) References.
Except as otherwise specifically indicated, all references in this Agreement to numbered or lettered sections or subsections refer
to sections or subsections of this Agreement. All references to Exhibits refer to Exhibits attached to this Agreement. All references
to “this Agreement,” or to any Exhibit to this Agreement, shall include any subsequent amendments to this Agreement,
or to the Exhibit, as the case may be.

 

(l) Number and Gender.
When required by the context, the word “it” will include the plural and the word “its” will include the singular;
the masculine will include the feminine gender and the neuter, and vice versa; and the word “person” will include corporation,
partnership, or other form of association.

 

(m) Counterparts.
This Agreement may be executed in any number of counterparts, including via electronically, each of which will be deemed to be
an original and all of which together will constitute a single agreement.

 

(n) Entire Agreement.
This Agreement, the Note and the collective Loan Documents represent the entire understanding of the parties with respect to the
subject matter of the Agreement. There are no other prior or contemporaneous agreements, either written or oral, among the parties
with respect to this subject.

 

[Signature Page Follows]

 

[The Remainder of This Page is Intentionally
Blank]

 

    Page 17 of 18

     

    

 

EXECUTED AND DELIVERED, as of the date first above written.

 

	PLEDGOR:	 
	 	 
	Sysorex,
    Inc.	 
	 	 	 
	By:	/s/
    Zaman Khan	 
	Name:	Zaman
    Khan	 
	Title:	Chief
    Executive Officer	 
	 	 	 
	PLEDGEE:	 
	 	 
	Quantum
    Lexicon, LLC	 
	 	 	 
	By:	/s/
    Wayne Wasserberg	 
	Name:	Wayne
    Wasserberg	 
	Title:	Manager	 

 

 

Page 18 of 18EX-4.1

 Exhibit 4.1 

EXHIBIT A 

CUSIP             

ISIN             

American Depositary 

Shares (Each 

American Depositary 

Share 

representing two 

Fully Paid Ordinary 

Shares) 
 [FORM
OF FACE OF RECEIPT] 
 AMERICAN DEPOSITARY RECEIPT 

for 
 AMERICAN DEPOSITARY SHARES

 representing 
 DEPOSITED
ORDINARY SHARES 
 of 
 HYWIN
HOLDINGS LTD. 
 (Incorporated under the laws of the Cayman Islands) 

DEUTSCHE BANK TRUST COMPANY AMERICAS, as depositary (herein called the “Depositary”), hereby certifies
that                     is the owner
of                     American Depositary Shares (hereinafter “ADS”), representing deposited ordinary shares, each of Par Value of
U.S. $0.0001 including evidence of rights to receive such ordinary shares (the “Shares”) of Hywin Holdings Ltd., a company incorporated under the laws of the Cayman Islands (the “Company”). As of the date of
the Deposit Agreement (hereinafter referred to), each ADS represents two Shares deposited under the Deposit Agreement with the Custodian which at the date of execution of the Deposit Agreement is Deutsche Bank AG, Hong Kong Branch (the
“Custodian”). The ratio of Depositary Shares to shares of stock is subject to subsequent amendment as provided in Article IV of the Deposit Agreement. The Depositary’s Corporate Trust Office is located at 60 Wall Street, New
York, New York 10005, U.S.A. 
 (1)    The Deposit Agreement. This American Depositary Receipt is one of an issue of American
Depositary Receipts (“Receipts”), all issued or to be issued upon the terms and conditions set forth in the Deposit Agreement, dated as of [●], 2021 (as amended from time to time, the “Deposit Agreement”), by
and among the Company, the Depositary, and all Holders and Beneficial Owners from time to time of Receipts issued thereunder, each of whom by accepting a Receipt agrees to become a party thereto and becomes bound by all the terms and conditions
thereof. The Deposit Agreement sets forth the rights and obligations of Holders and Beneficial Owners of Receipts and the rights and duties of the Depositary in respect of the Shares deposited thereunder and any and all other securities, property
and cash from time to time, received in respect of such Shares and held thereunder (such Shares, other securities, property and cash are herein called “Deposited Securities”). Copies of the Deposit Agreement are on file at the
Corporate Trust Office of the Depositary and the Custodian. 

  
 1 

 Each owner and each Beneficial Owner, upon acceptance of any ADSs (or any interest therein) issued in
accordance with the terms and conditions of the Deposit Agreement, shall be deemed for all purposes to (a) be a party to and bound by the terms of the Deposit Agreement and applicable ADR(s), and (b) appoint the Depositary its attorney-in-fact, with full power to delegate, to act on its behalf and to take any and all actions contemplated in the Deposit Agreement and the applicable ADR(s), to adopt
any and all procedures necessary to comply with applicable law and to take such action as the Depositary in its sole discretion may deem necessary or appropriate to carry out the purposes of the Deposit Agreement and the applicable ADR(s) (the
taking of such actions to be the conclusive determinant of the necessity and appropriateness thereof). 
 The statements made on the face and reverse of
this Receipt are summaries of certain provisions of the Deposit Agreement and the Memorandum and Articles of Association (as in effect on the date of the Deposit Agreement) and are qualified by and subject to the detailed provisions of the Deposit
Agreement, to which reference is hereby made. All capitalized terms used herein which are not otherwise defined herein shall have the meanings ascribed thereto in the Deposit Agreement. To the extent there is any inconsistency between the terms of
this Receipt and the terms of the Deposit Agreement, the terms of the Deposit Agreement shall prevail. Prospective and actual Holders and Beneficial Owners are encouraged to read the terms of the Deposit Agreement. The Depositary makes no
representation or warranty as to the validity or worth of the Deposited Securities. The Depositary has made arrangements for the acceptance of the American Depositary Shares into DTC. Each Beneficial Owner of American Depositary Shares held through
DTC must rely on the procedures of DTC and the DTC Participants to exercise and be entitled to any rights attributable to such American Depositary Shares. The Receipt evidencing the American Depositary Shares held through DTC will be registered in
the name of a nominee of DTC. So long as the American Depositary Shares are held through DTC or unless otherwise required by law, ownership of beneficial interests in the Receipt registered in the name of DTC (or its nominee) will be shown on, and
transfers of such ownership will be effected only through, records maintained by (i) DTC (or its nominee), or (ii) DTC Participants (or their nominees). 

(2)    Surrender of Receipts and Withdrawal of Deposited Securities. Upon surrender, at the Corporate Trust Office of the
Depositary, of ADSs evidenced by this Receipt for the purpose of withdrawal of the Deposited Securities represented thereby, and upon payment of (i) the fees and charges of the Depositary for the making of withdrawals of Deposited Securities
and cancellation of Receipts (as set forth in Section 5.9 of the Deposit Agreement and Article (9) hereof) and (ii) all fees, taxes and/or governmental charges payable in connection with such surrender and withdrawal, and, subject to
the terms and conditions of the Deposit Agreement, the Memorandum and Articles of Association, Section 7.11 of the Deposit Agreement, Article (22) hereof and the provisions of or governing the Deposited Securities and other applicable
laws, the Holder of the American Depositary Shares evidenced hereby is entitled to Delivery, to him or upon his order, of the Deposited Securities represented by the ADS so surrendered. ADS may be surrendered for the purpose of withdrawing Deposited
Securities by Delivery of a Receipt evidencing such ADS (if held in registered form) or by book-entry delivery of such ADS to the Depositary. 

  
 2 

 A Receipt surrendered for such purposes shall, if so required by the Depositary, be properly endorsed in
blank or accompanied by proper instruments of transfer in blank, and if the Depositary so requires, the Holder thereof shall execute and deliver to the Depositary a written order directing the Depositary to cause the Deposited Securities being
withdrawn to be Delivered to or upon the written order of a person or persons designated in such order. Thereupon, the Depositary shall direct the Custodian to Deliver (without unreasonable delay) at the designated office of the Custodian or through
a book-entry delivery of the Shares (in either case subject to the terms and conditions of the Deposit Agreement, to the Memorandum and Articles of Association, and to the provisions of or governing the Deposited Securities and applicable laws, now
or hereafter in effect), to or upon the written order of the person or persons designated in the order delivered to the Depositary as provided above, the Deposited Securities represented by such ADSs, together with any certificate or other proper
documents of or relating to title for the Deposited Securities or evidence of the electronic transfer thereof (if available) as the case may be to or for the account of such person. Subject to Article (4) hereof, in the case of surrender of a
Receipt evidencing a number of ADSs representing other than a whole number of Shares, the Depositary shall cause ownership of the appropriate whole number of Shares to be Delivered in accordance with the terms hereof, and shall, at the discretion of
the Depositary, either (i) issue and Deliver to the person surrendering such Receipt a new Receipt evidencing American Depositary Shares representing any remaining fractional Share, or (ii) sell or cause to be sold the fractional Shares
represented by the Receipt so surrendered and remit the proceeds thereof (net of (a) applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and (b) taxes and/or
governmental charges) to the person surrendering the Receipt. At the request, risk and expense of any Holder so surrendering a Receipt, and for the account of such Holder, the Depositary shall direct the Custodian to forward (to the extent permitted
by law) any cash or other property (other than securities) held in respect of, and any certificate or certificates and other proper documents of or relating to title to, the Deposited Securities represented by such Receipt to the Depositary for
Delivery at the Corporate Trust Office of the Depositary, and for further Delivery to such Holder. Such direction shall be given by letter or, at the request, risk and expense of such Holder, by cable, telex or facsimile transmission. Upon receipt
of such direction by the Depositary, the Depositary may make delivery to such person or persons entitled thereto at the Corporate Trust Office of the Depositary of any dividends or cash distributions with respect to the Deposited Securities
represented by such Receipt, or of any proceeds of sale of any dividends, distributions or rights, which may at the time be held by the Depositary. 

(3)    Transfers, Split-Ups and Combinations of Receipts. Subject to the terms and
conditions of the Deposit Agreement, the Registrar shall register transfers of Receipts on its books, upon surrender at the Corporate Trust Office of the Depositary of a Receipt by the Holder thereof in person or by duly authorized attorney,
properly endorsed in the case of a certificated Receipt or accompanied by, or in the case of Receipts issued through any book-entry system, including, without limitation, DRS/Profile, receipt by the Depositary of proper instruments of transfer
(including signature guarantees in accordance with standard industry practice) and duly stamped as may be required by the laws of the State of New York, of the United States, of the Cayman Islands and of any other applicable jurisdiction. Subject to
the terms and conditions of the Deposit Agreement, including payment of the applicable fees and expenses incurred by, and charges of, the Depositary, the Depositary shall execute and Deliver a new Receipt(s) (and if necessary, cause the Registrar to
countersign such Receipt(s)) and deliver same to or upon the order of the person entitled to such Receipts evidencing the same aggregate number of ADSs as those evidenced by the Receipts surrendered. Upon surrender of a Receipt or Receipts for the
purpose of effecting a split-up or combination of such Receipt or Receipts upon payment of the applicable fees and charges of the Depositary, and subject to the terms and conditions of the Deposit Agreement,
the Depositary shall execute and deliver a new Receipt or Receipts for any authorized number of ADSs requested, evidencing the same aggregate number of ADSs as the Receipt or Receipts surrendered. 

  
 3 

 (4)    Pre-Conditions to Registration,
Transfer, Etc. As a condition precedent to the execution and Delivery, registration, registration of transfer, split-up, subdivision, combination or surrender of any Receipt, the delivery of any
distribution thereon (whether in cash or shares) or withdrawal of any Deposited Securities, the Depositary or the Custodian may require (i) payment from the depositor of Shares or presenter of the Receipt of a sum sufficient to reimburse it for
any tax or other governmental charge and any stock transfer or registration fee with respect thereto (including any such tax or charge and fee with respect to Shares being deposited or withdrawn) and payment of any applicable fees and charges of the
Depositary as provided in the Deposit Agreement and in this Receipt, (ii) the production of proof satisfactory to it as to the identity and genuineness of any signature or any other matter and (iii) compliance with (A) any laws or
governmental regulations relating to the execution and Delivery of Receipts and ADSs or to the withdrawal of Deposited Securities and (B) such reasonable regulations of the Depositary or the Company consistent with the Deposit Agreement and
applicable law. 
 The issuance of ADSs against deposits of Shares generally or against deposits of particular Shares may be suspended, or the issuance of
ADSs against the deposit of particular Shares may be withheld, or the registration of transfer of Receipts in particular instances may be refused, or the registration of transfer of Receipts generally may be suspended, during any period when the
transfer books of the Depositary are closed or if any such action is deemed necessary or advisable by the Depositary or the Company, in good faith, at any time or from time to time because of any requirement of law, any government or governmental
body or commission or any securities exchange upon which the Receipts or Share are listed, or under any provision of the Deposit Agreement or provisions of, or governing, the Deposited Securities or any meeting of shareholders of the Company or for
any other reason, subject in all cases to Article (22) hereof. 
 The Depositary shall not issue ADSs prior to the receipt of Shares or deliver Shares
prior to the receipt and cancellation of ADSs. 
 (5)    Compliance With Information Requests. Notwithstanding any other
provision of the Deposit Agreement or this Receipt, each Holder and Beneficial Owner of the ADSs represented hereby agrees to comply with requests from the Company pursuant to the laws of the Cayman Islands, the rules and requirements of the NASDAQ
Global Market Stock Exchange and any other stock exchange on which the Shares are, or will be registered, traded or listed, the Memorandum and Articles of Association, which are made to provide information as to the capacity in which such Holder or
Beneficial Owner owns ADSs and regarding the identity of any other person interested in such ADSs and the nature of such interest and various other matters whether or not they are Holders and/or Beneficial Owner at the time of such request. The
Depositary agrees to use reasonable efforts to forward any such requests to the Holders and to forward to the Company any such responses to such requests received by the Depositary. 

  
 4 

 (6)    Liability of Holder for Taxes, Duties and Other Charges. If any tax or
other governmental charge shall become payable by the Depositary or the Custodian with respect to any Receipt or any Deposited Securities or ADSs, such tax or other governmental charge shall be payable by the Holders and Beneficial Owners to the
Depositary. The Company, the Custodian and/or the Depositary may withhold or deduct from any distributions made in respect of Deposited Securities and may sell for the account of the Holder and/or Beneficial Owner any or all of the Deposited
Securities and apply such distributions and sale proceeds in payment of such taxes (including applicable interest and penalties) or charges, with the Holder and the Beneficial Owner hereof remaining fully liable for any deficiency. The Custodian may
refuse the deposit of Shares, and the Depositary may refuse to issue ADSs, to deliver Receipts, register the transfer, split-up or combination of ADRs and (subject to Article (22) hereof) the withdrawal
of Deposited Securities, until payment in full of such tax, charge, penalty or interest is received. 
 The liability of Holders and Beneficial Owners under
the Deposit Agreement shall survive any transfer of Receipts, any surrender of Receipts and withdrawal of Deposited Securities or the termination of the Deposit Agreement. 

Holders understand that in converting Foreign Currency, amounts received on conversion are calculated at a rate which may exceed the number of decimal places
used by the Depositary to report distribution rates (which in any case will not be less than two decimal places). Any excess amount may be retained by the Depositary as an additional cost of conversion, irrespective of any other fees and expenses
payable or owing hereunder and shall not be subject to escheatment. 
 (7)    Representations and Warranties of Depositors. Each
person depositing Shares under the Deposit Agreement shall be deemed thereby to represent and warrant that (i) such Shares (and the certificates therefor) are duly authorized, validly issued, fully paid,
non-assessable and were legally obtained by such person, (ii) all preemptive (and similar) rights, if any, with respect to such Shares, have been validly waived or exercised, (iii) the person making
such deposit is duly authorized so to do, (iv) the Shares presented for deposit are free and clear of any lien, encumbrance, security interest, charge, mortgage or adverse claim, and are not, and the ADSs issuable upon such deposit will not be,
Restricted Securities, (v) the Shares presented for deposit have not been stripped of any rights or entitlements and (vi) the Shares are not subject to any lock-up agreement with the Company or other
party, or the Shares are subject to a lock-up agreement but such lock-up agreement has terminated or the lock-up restrictions
imposed thereunder have expired or been validly waived. Such representations and warranties shall survive the deposit and withdrawal of Shares and the issuance, cancellation and transfer of ADSs. If any such representations or warranties are false
in any way, the Company and Depositary shall be authorized, at the cost and expense of the person depositing Shares, to take any and all actions necessary to correct the consequences thereof. 

  
 5 

 (8)    Filing Proofs, Certificates and Other Information. Any person presenting
Shares for deposit shall provide, any Holder and any Beneficial Owner may be required to provide, and every Holder and Beneficial Owner agrees, from time to time to provide to the Depositary such proof of citizenship or residence, taxpayer status,
payment of all applicable taxes and/or other governmental charges, exchange control approval, legal or beneficial ownership of ADSs and Deposited Securities, compliance with applicable laws and the terms of the Deposit Agreement and the provisions
of, or governing, the Deposited Securities or other information as the Depositary deems necessary or proper or as the Company may reasonably require by written request to the Depositary consistent with its obligations under the Deposit Agreement.
Pursuant to the Deposit Agreement, the Depositary and the Registrar, as applicable, may withhold the execution or Delivery or registration of transfer of any Receipt or the distribution or sale of any dividend or other distribution of rights or of
the proceeds thereof, or to the extent not limited by the terms of Article (22) hereof or the terms of the Deposit Agreement, the Delivery of any Deposited Securities until such proof or other information is filed or such certifications are
executed, or such representations and warranties are made, or such other documentation or information provided, in each case to the Depositary’s and the Company’s satisfaction. The Depositary shall from time to time on the written request
of the Company advise the Company of the availability of any such proofs, certificates or other information and shall, at the Company’s sole expense, provide or otherwise make available copies thereof to the Company upon written request
therefor by the Company, unless such disclosure is prohibited by law. Each Holder and Beneficial Owner agrees to provide any information requested by the Company or the Depositary pursuant to this paragraph. Nothing herein shall obligate the
Depositary to (i) obtain any information for the Company if not provided by the Holders or Beneficial Owners or (ii) verify or vouch for the accuracy of the information so provided by the Holders or Beneficial Owners. 

Every Holder and Beneficial Owner agrees to indemnify the Depositary, the Company, the Custodian, the Agents and each of their respective directors, officers,
employees, agents and Affiliates against, and to hold each of them harmless from, any Losses which any of them may incur or which may be made against any of them as a result of or in connection with any inaccuracy in or omission from any such proof,
certificate, representation, warranty, information or document furnished by or on behalf of such Holder and/or Beneficial Owner or as a result of any such failure to furnish any of the foregoing. 

The obligations of Holders and Beneficial Owners under the Deposit Agreement shall survive any transfer of Receipts, any surrender of Receipts and withdrawal
of Deposited Securities or the termination of this Deposit Agreement. 
 (9)    Charges of Depositary. The Depositary reserves
the right to charge the following fees for the services performed under the terms of the Deposit Agreement, provided, however, that no fees shall be payable upon distribution of cash dividends so long as the charging of such fee is prohibited by the
exchange, if any, upon which the ADSs are listed: 
 (i)    to any person to whom ADSs are issued or to any person to
whom a distribution is made in respect of ADS distributions pursuant to stock dividends or other free distributions of stock, bonus distributions, stock splits or other distributions (except where converted to cash), a fee not in excess of U.S. $
5.00 per 100 ADSs (or fraction thereof) so issued under the terms of the Deposit Agreement to be determined by the Depositary; 

(ii)    to any person surrendering ADSs for withdrawal of Deposited Securities or whose ADSs are cancelled or reduced for
any other reason including, inter alia, cash distributions made pursuant to a cancellation or withdrawal, a fee not in excess of U.S. $ 5.00 per 100 ADSs reduced, cancelled or surrendered (as the case may be); 

(iii)     to any holder of ADSs (including, without limitation, Holders), a fee not in excess of U.S. $ 5.00 per 100 ADSs
held for the distribution of cash dividends; 

  
 6 

 (iv)     to any holder of ADSs (including, without limitation, Holders),
a fee not in excess of U.S. $ 5.00 per 100 ADSs held for the distribution of cash entitlements (other than cash dividends) and/or cash proceeds, including proceeds from the sale of rights, securities and other entitlements; 

(v)    to any holder of ADSs (including, without limitation, Holders), a fee not in excess of U.S. $ 5.00 per 100 ADSs (or
portion thereof) issued upon the exercise of rights; and 
 (vi)    for the operation and maintenance costs in
administering the ADSs an annual fee of U.S. $ 5.00 per 100 ADSs, such fee to be assessed against Holders of record as of the date or dates set by the Depositary as it sees fit and collected at the sole discretion of the Depositary by billing such
Holders for such fee or by deducting such fee from one or more cash dividends or other cash distributions. 
 In addition, Holders, Beneficial Owners, any
person depositing Shares for deposit and any person surrendering ADSs for cancellation and withdrawal of Deposited Securities will be required to pay the following charges: 

(i)    taxes (including applicable interest and penalties) and other governmental charges; 

(ii)    such registration fees as may from time to time be in effect for the registration of Shares or other Deposited
Securities with the Foreign Registrar and applicable to transfers of Shares or other Deposited Securities to or from the name of the Custodian, the Depositary or any nominees upon the making of deposits and withdrawals, respectively; 

(iii)    such cable, telex, facsimile and electronic transmission and delivery expenses as are expressly provided in the
Deposit Agreement to be at the expense of the depositor depositing or person withdrawing Shares or Holders and Beneficial Owners of ADSs; 

(iv)    the expenses and charges incurred by the Depositary and/or a division or Affiliate(s) of the Depositary in the
conversion of Foreign Currency; 
 (v)    such fees and expenses as are incurred by the Depositary in connection with
compliance with exchange control regulations and other regulatory requirements applicable to Shares, Deposited Securities, ADSs and ADRs; 

(vi)    the fees and expenses incurred by the Depositary in connection with the delivery of Deposited Securities, including
any fees of a central depository for securities in the local market, where applicable; 
 (vii)    any additional fees,
charges, costs or expenses that may be incurred by the Depositary or a division or Affiliate(s) of the Depositary from time to time. 
 Any other fees and
charges of, and expenses incurred by, the Depositary or the Custodian under the Deposit Agreement shall be for the account of the Company unless otherwise agreed in writing between the Company and the Depositary from time to time. All fees and
charges may, at any time and from time to time, be changed by agreement between the Depositary and Company but, in the case of fees and charges payable by Holders or Beneficial Owners, only in the manner contemplated by Article (20) hereof.

  
 7 

 The Depositary may make payments to the Company and/or may share revenue with the Company derived from fees
collected from Holders and Beneficial Owners, upon such terms and conditions as the Company and the Depositary may agree from time to time. 

(10)    Title to Receipts. It is a condition of this Receipt, and every successive Holder of this Receipt by accepting or holding
the same consents and agrees, that title to this Receipt (and to each ADS evidenced hereby) is transferable by delivery of the Receipt, provided it has been properly endorsed or accompanied by proper instruments of transfer, such Receipt being a
certificated security under the laws of the State of New York. Notwithstanding any notice to the contrary, the Depositary may deem and treat the Holder of this Receipt (that is, the person in whose name this Receipt is registered on the books of the
Depositary) as the absolute owner hereof for all purposes. The Depositary shall have no obligation or be subject to any liability under the Deposit Agreement or this Receipt to any holder of this Receipt or any Beneficial Owner unless such holder is
the Holder of this Receipt registered on the books of the Depositary or, in the case of a Beneficial Owner, such Beneficial Owner or the Beneficial Owner’s representative is the Holder registered on the books of the Depositary. 

(11)    Validity of Receipt. This Receipt shall not be entitled to any benefits under the Deposit Agreement or be valid or
enforceable for any purpose, unless this Receipt has been (i) dated, (ii) signed by the manual or facsimile signature of a duly authorized signatory of the Depositary, (iii) if a Registrar for the Receipts shall have been appointed,
countersigned by the manual or facsimile signature of a duly authorized signatory of the Registrar and (iv) registered in the books maintained by the Depositary or the Registrar, as applicable, for the issuance and transfer of Receipts.
Receipts bearing the facsimile signature of a duly-authorized signatory of the Depositary or the Registrar, who at the time of signature was a duly-authorized signatory
of the Depositary or the Registrar, as the case may be, shall bind the Depositary, notwithstanding the fact that such signatory has ceased to be so authorized prior to the execution and delivery of such Receipt by the Depositary or did not hold such
office on the date of issuance of such Receipts. 
 (12)    Available Information; Reports; Inspection of Transfer Books. The
Company is subject to the periodic reporting requirements of the Exchange Act applicable to foreign private issuers (as defined in Rule 405 of the Securities Act) and accordingly files certain information with the Commission. These reports and
documents can be inspected and copied at the public reference facilities maintained by the Commission located at 100 F Street, N.E., Washington D.C. 20549, U.S.A. The Depositary shall make available during normal business hours on
any Business Day for inspection by Holders at its Corporate Trust Office any reports and communications, including any proxy soliciting materials, received from the Company which are both (a) received by the Depositary, the Custodian, or the
nominee of either of them as the holder of the Deposited Securities and (b) made generally available to the holders of such Deposited Securities by the Company. 

The Depositary or the Registrar, as applicable, shall keep books for the registration of Receipts and transfers of Receipts which at all reasonable times
shall be open for inspection by the Company and by the Holders of such Receipts, provided that such inspection shall not be, to the Depositary’s or the Registrar’s knowledge, for the purpose of communicating with Holders of such Receipts
in the interest of a business or object other than the business of the Company or other than a matter related to the Deposit Agreement or the Receipts. 

  
 8 

 The Depositary or the Registrar, as applicable, may close the transfer books with respect to the Receipts,
at any time or from time to time, when deemed necessary or advisable by it in good faith in connection with the performance of its duties hereunder, or at the reasonable written request of the Company subject, in all cases, to Article (22)
hereof. 
  

							
	Dated:	 		 	      DEUTSCHE BANK TRUST
		 		 	      COMPANY AMERICAS, as Depositary
				
		 		 	By:	 	  

				
		 		 	By:	 	  

 The address of the Corporate Trust Office of the Depositary is 60 Wall Street, New York, New York 10005, U.S.A. 

  
 9 

 EXHIBIT B 

[FORM OF REVERSE OF RECEIPT] 

SUMMARY OF CERTAIN ADDITIONAL PROVISIONS 

OF THE DEPOSIT AGREEMENT 

(13)    Dividends and Distributions in Cash, Shares, etc. Whenever the Depositary receives confirmation from the Custodian of
receipt of any cash dividend or other cash distribution on any Deposited Securities, or receives proceeds from the sale of any Shares, rights securities or other entitlements under the Deposit Agreement, the Depositary will, if at the time of
receipt thereof any amounts received in a Foreign Currency can, in the judgment of the Depositary (upon the terms of the Deposit Agreement), be converted on a practicable basis, into Dollars transferable to the United States, promptly convert or
cause to be converted such dividend, distribution or proceeds into Dollars and will distribute promptly the amount thus received (net of applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of
the Depositary and taxes and/or governmental charges) to the Holders of record as of the ADS Record Date in proportion to the number of ADSs representing such Deposited Securities held by such Holders respectively as of the ADS Record Date. The
Depositary shall distribute only such amount, however, as can be distributed without attributing to any Holder a fraction of one cent. Any such fractional amounts shall be rounded down to the nearest whole cent and so distributed to Holders entitled
thereto. Holders and Beneficial Owners understand that in converting Foreign Currency, amounts received on conversion are calculated at a rate which exceeds the number of decimal places used by the Depositary to report distribution rates. The excess
amount may be retained by the Depositary as an additional cost of conversion, irrespective of any other fees and expenses payable or owing hereunder and shall not be subject to escheatment. If the Company, the Custodian or the Depositary is required
to withhold and does withhold from any cash dividend or other cash distribution in respect of any Deposited Securities an amount on account of taxes, duties or other governmental charges, the amount distributed to Holders on the ADSs representing
such Deposited Securities shall be reduced accordingly. Such withheld amounts shall be forwarded by the Company, the Custodian or the Depositary to the relevant governmental authority. Evidence of payment thereof by the Company shall be forwarded by
the Company to the Depositary upon request. The Depositary shall forward to the Company or its agent such information from its records as the Company may reasonably request to enable the Company or its agent to file with governmental agencies such
reports as are necessary to obtain benefits under the applicable tax treaties for the Holders and Beneficial Owners of Receipts. 
 If any distribution upon
any Deposited Securities consists of a dividend in, or free distribution of, Shares, the Company shall cause such Shares to be deposited with the Custodian and registered, as the case may be, in the name of the Depositary, the Custodian or their
nominees. Upon receipt of confirmation of such deposit, the Depositary shall, subject to and in accordance with the Deposit Agreement, establish the ADS Record Date and either (i) distribute to the Holders as of the ADS Record Date in
proportion to the number of ADSs held by such Holders as of the ADS Record Date, additional ADSs, which represent in aggregate the number of Shares received as such dividend, or free distribution, subject to the terms of the Deposit Agreement
(including, without limitation, the applicable fees and charges of, and expenses incurred by, the Depositary, and taxes and/or governmental charges), or (ii) if additional ADSs are not so distributed, each ADS issued and outstanding after the
ADS Record Date shall, to the extent permissible by law, thenceforth also represent rights and interests in the additional Shares distributed upon the Deposited Securities represented thereby (net of the applicable fees and charges of, and the
expenses incurred by, the Depositary, and taxes and/or governmental charges). In lieu of delivering fractional ADSs, the Depositary shall sell the number of Shares represented by the aggregate of such fractions and distribute the proceeds upon the
terms set forth in the Deposit Agreement. 

  
 10 

 In the event that (x) the Depositary determines that any distribution in property (including Shares) is
subject to any tax or other governmental charges which the Depositary is obligated to withhold, or, (y) if the Company, in the fulfillment of its obligations under the Deposit Agreement, has either (a) furnished an opinion of
U.S. counsel determining that Shares must be registered under the Securities Act or other laws in order to be distributed to Holders (and no such registration statement has been declared effective), or (b) fails to timely deliver the
documentation contemplated in the Deposit Agreement, the Depositary may dispose of all or a portion of such property (including Shares and rights to subscribe therefor) in such amounts and in such manner, including by public or private sale, as the
Depositary deems necessary and practicable, and the Depositary shall distribute the net proceeds of any such sale (after deduction of taxes and/or governmental charges, and fees and charges of, and expenses incurred by, the Depositary and/or a
division or Affiliate(s) of the Depositary) to Holders entitled thereto upon the terms of the Deposit Agreement. The Depositary shall hold and/or distribute any unsold balance of such property in accordance with the provisions of the Deposit
Agreement. 
 Upon timely receipt of a notice indicating that the Company wishes an elective distribution to be made available to Holders upon the terms
described in the Deposit Agreement, the Depositary shall, upon provision of all documentation required under the Deposit Agreement, (including, without limitation, any legal opinions the Depositary may request under the Deposit Agreement) determine
whether such distribution is lawful and reasonably practicable. If so, the Depositary shall, subject to the terms and conditions of the Deposit Agreement, establish an ADS Record Date according to Article (14) hereof and establish procedures to
enable the Holder hereof to elect to receive the proposed distribution in cash or in additional ADSs. If a Holder elects to receive the distribution in cash, the dividend shall be distributed as in the case of a distribution in cash. If the Holder
hereof elects to receive the distribution in additional ADSs, the distribution shall be distributed as in the case of a distribution in Shares upon the terms described in the Deposit Agreement. If such elective distribution is not lawful or
reasonably practicable or if the Depositary did not receive satisfactory documentation set forth in the Deposit Agreement, the Depositary shall, to the extent permitted by law, distribute to Holders, on the basis of the same determination as is made
in the Cayman Islands, in respect of the Shares for which no election is made, either (x) cash or (y) additional ADSs representing such additional Shares, in each case, upon the terms described in the Deposit Agreement. Nothing herein
shall obligate the Depositary to make available to the Holder hereof a method to receive the elective dividend in Shares (rather than ADSs). There can be no assurance that the Holder hereof will be given the opportunity to receive elective
distributions on the same terms and conditions as the holders of Shares. 

  
 11 

 Whenever the Company intends to distribute to the holders of the Deposited Securities rights to subscribe
for additional Shares, the Company shall give notice thereof to the Depositary at least 60 days prior to the proposed distribution stating whether or not it wishes such rights to be made available to Holders of ADSs. Upon timely receipt by the
Depositary of a notice indicating that the Company wishes such rights to be made available to Holders of ADSs, the Company shall determine whether it is lawful and reasonably practicable to make such rights available to the Holders. The Depositary
shall make such rights available to any Holders only if the Company shall have timely requested that such rights be made available to Holders, the Depositary shall have received the documentation required by the Deposit Agreement, and the Depositary
shall have determined that such distribution of rights is lawful and reasonably practicable. If such conditions are not satisfied, the Depositary shall sell the rights as described below. In the event all conditions set forth above are satisfied,
the Depositary shall establish an ADS Record Date and establish procedures (x) to distribute such rights (by means of warrants or otherwise) and (y) to enable the Holders to exercise the rights (upon payment of the applicable fees and
charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and taxes and/or governmental charges). Nothing herein or in the Deposit Agreement shall obligate the Depositary to make available to the
Holders a method to exercise such rights to subscribe for Shares (rather than ADSs). If (i) the Company does not timely request the Depositary to make the rights available to Holders or if the Company requests that the rights not be made
available to Holders, (ii) the Depositary fails to receive the documentation required by the Deposit Agreement or determines it is not lawful or reasonably practicable to make the rights available to Holders, or (iii) any rights made
available are not exercised and appear to be about to lapse, the Depositary shall determine whether it is lawful and reasonably practicable to sell such rights, and if it so determines that it is lawful and reasonably practicable, endeavour to sell
such rights in a riskless principal capacity or otherwise, at such place and upon such terms (including public and/or private sale) as it may deem proper. The Depositary shall, upon such sale, convert and distribute proceeds of such sale (net of
applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and taxes and/or governmental charges) upon the terms hereof and in the Deposit Agreement. If the Depositary is unable to
make any rights available to Holders or to arrange for the sale of the rights upon the terms described above, the Depositary shall allow such rights to lapse. The Depositary shall not be responsible for (i) any failure to determine that it may
be lawful or practicable to make such rights available to Holders in general or any Holders in particular, (ii) any foreign exchange exposure or loss incurred in connection with such sale, or exercise, or (iii) the content of any materials
forwarded to the Holders on behalf of the Company in connection with the rights distribution. 
 Notwithstanding anything herein to the contrary, if
registration (under the Securities Act and/or any other applicable law) of the rights or the securities to which any rights relate may be required in order for the Company to offer such rights or such securities to Holders and to sell the securities
represented by such rights, the Depositary will not distribute such rights to the Holders (i) unless and until a registration statement under the Securities Act covering such offering is in effect or (ii) unless the Company furnishes to
the Depositary opinion(s) of counsel for the Company in the United States and counsel to the Company in any other applicable country in which rights would be distributed, in each case satisfactorily to the Depositary, to the effect that the offering
and sale of such securities to Holders and Beneficial Owners are exempt from, or do not require registration under, the provisions of the Securities Act or any other applicable laws. In the event that the Company, the Depositary or the Custodian
shall be required to withhold and does withhold from any distribution of property (including rights) an amount on account of taxes and/or other governmental charges, the amount distributed to the Holders shall be reduced accordingly. In the event
that the Depositary determines that any distribution in property (including Shares and rights to subscribe therefor) is subject to any tax or other governmental charges which the Depositary is obligated to withhold, the Depositary may dispose of all
or a portion of such property (including Shares and rights to subscribe therefor) in such amounts and in such manner, including by public or private sale, as the Depositary deems necessary and practicable to pay any such taxes and/or charges. 

  
 12 

 There can be no assurance that Holders generally, or any Holder in particular, will be given the opportunity
to exercise rights on the same terms and conditions as the holders of Shares or to exercise such rights. Nothing herein shall obligate the Company to file any registration statement in respect of any rights or Shares or other securities to be
acquired upon the exercise of such rights or otherwise to register or qualify the offer or sale of such rights or securities under the applicable law of any other jurisdiction for any purpose. 

Upon receipt of a notice regarding property other than cash, Shares or rights to purchase additional Shares, to be made to Holders of ADSs, the Depositary
shall determine, after consultation with the Company, whether such distribution to Holders is lawful and reasonably practicable. The Depositary shall not make such distribution unless (i) the Company shall have timely requested the Depositary
to make such distribution to Holders, (ii) the Depositary shall have received the documentation required by the Deposit Agreement, and (iii) the Depositary shall have determined that such distribution is lawful and reasonably practicable.
Upon satisfaction of such conditions, the Depositary shall distribute the property so received to the Holders of record as of the ADS Record Date, in proportion to the number of ADSs held by such Holders respectively and in such manner as the
Depositary may deem practicable for accomplishing such distribution (i) upon receipt of payment or net of the applicable fees and charges of, and expenses incurred by, the Depositary, and (ii) net of any taxes and/or governmental charges.
The Depositary may dispose of all or a portion of the property so distributed and deposited, in such amounts and in such manner (including public or private sale) as the Depositary may deem practicable or necessary to satisfy any taxes (including
applicable interest and penalties) or other governmental charges applicable to the distribution. 
 If the conditions above are not satisfied, the
Depositary shall sell or cause such property to be sold in a public or private sale, at such place or places and upon such terms as it may deem proper and shall distribute the proceeds of such sale received by the Depositary (net of
(a) applicable fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the Depositary and (b) taxes and/or governmental charges) to the Holders upon the terms hereof and of the Deposit Agreement.
If the Depositary is unable to sell such property, the Depositary may dispose of such property in any way it deems reasonably practicable under the circumstances. 

(14)    Fixing of Record Date. Whenever necessary in connection with any distribution (whether in cash, Shares, rights or other
distribution), or whenever for any reason the Depositary causes a change in the number of Shares that are represented by each ADS, or whenever the Depositary shall receive notice of any meeting of or solicitation of holders of Shares or other
Deposited Securities, or whenever the Depositary shall find it necessary or convenient in connection with the giving of any notice, or any other matter, the Depositary shall fix a record date (the “ADS Record Date”), as close as
practicable to the record date fixed by the Company with respect to the Shares (if applicable), for the determination of the Holders who shall be entitled to receive such distribution, to give instructions for the exercise of voting rights at any
such meeting, or to give or withhold such consent, or to receive such notice or solicitation or to otherwise take action, or to exercise the rights of Holders with respect to such changed number of Shares represented by each ADS or for any other
reason. Subject to applicable law and the terms and conditions of this Receipt and the Deposit Agreement, only the Holders of record at the close of business in New York on such ADS Record Date shall be entitled to receive such distributions, to
give such voting instructions, to receive such notice or solicitation, or otherwise take action. 

  
 13 

 (15)    Voting of Deposited Securities. Subject to the next sentence, as soon as
practicable after receipt of notice of any meeting at which the holders of Deposited Securities are entitled to vote, or of solicitation of consents or proxies from holders of Deposited Securities, the Depositary shall fix the ADS Record Date in
respect of such meeting or such solicitation of consents or proxies. The Depositary shall, if requested by the Company in writing in a timely manner (the Depositary having no obligation to take any further action if the request shall not have been
received by the Depositary at least 30 Business Days prior to the date of such vote or meeting) and at the Company’s expense, and provided no U.S. legal prohibitions exist, mail by regular, ordinary mail delivery (or by electronic mail or as
otherwise may be agreed between the Company and the Depositary in writing from time to time) or otherwise distribute as soon as practicable after receipt thereof to Holders as of the ADS Record Date: (a) such notice of meeting or solicitation
of consent or proxy; (b) a statement that the Holders at the close of business on the ADS Record Date will be entitled, subject to any applicable law, the provisions of this Deposit Agreement, the Company’s Memorandum and Articles of
Association and the provisions of or governing the Deposited Securities (which provisions, if any, shall be summarized in pertinent part by the Company), to instruct the Depositary as to the exercise of the voting rights, if any, pertaining to the
Deposited Securities represented by such Holder’s American Depositary Shares; and (c) a brief statement as to the manner in which such voting instructions may be given to the Depositary, or in which instructions may be deemed to have been
given in accordance with this Article (15), including an express indication that instructions may be given (or be deemed to have been given in accordance with the immediately following paragraph of this section if no instruction is received) to the
Depositary to give a discretionary proxy to a person or persons designated by the Company. Voting instructions may be given only in respect of a number of American Depositary Shares representing an integral number of Deposited Securities. Upon the
timely receipt of voting instructions of a Holder on the ADS Record Date in the manner specified by the Depositary, the Depositary shall endeavor, insofar as practicable and permitted under applicable law, the provisions of this Deposit Agreement,
the Company’s Memorandum and Articles of Association and the provisions of or governing the Deposited Securities, to vote or cause the Custodian to vote the Deposited Securities (in person or by proxy) represented by American Depositary Shares
evidenced by such Receipt in accordance with such voting instructions. 
 In the event that (i) the Depositary timely receives voting instructions from
a Holder which fail to specify the manner in which the Depositary is to vote the Deposited Securities represented by such Holder’s ADSs or (ii) no timely instructions are received by the Depositary from a Holder with respect to any of the
Deposited Securities represented by the ADSs held by such Holder on the ADS Record Date, the Depositary shall (unless otherwise specified in the notice distributed to Holders) deem such Holder to have instructed the Depositary to give a
discretionary proxy to a person designated by the Company with respect to such Deposited Securities and the Depositary shall give a discretionary proxy to a person designated by the Company to vote such Deposited Securities, provided, however, that
no such instruction shall be deemed to have been given and no such discretionary proxy shall be given with respect to any matter as to which the Company informs the Depositary (and the Company agrees to provide such information as promptly as
practicable in writing, if applicable) that (x) the Company does not wish to give such proxy, (y) the Company is aware or should reasonably be aware that substantial opposition exists from Holders against the outcome for which the person
designated by the Company would otherwise vote or (z) the outcome for which the person designated by the Company would otherwise vote would materially and adversely affect the rights of holders of Deposited Securities, provided, further, that
the Company will have no liability to any Holder or Beneficial Owner resulting from such notification. 

  
 14 

 In the event that voting on any resolution or matter is conducted on a show of hands basis in accordance
with the Memorandum and Articles of Association, the Depositary will refrain from voting and the voting instructions (or the deemed voting instructions, as set out above) received by the Depositary from Holders shall lapse. The Depositary will have
no obligation to demand voting on a poll basis with respect to any resolution and shall have no liability to any Holder or Beneficial Owner for not having demanded voting on a poll basis. 

Neither the Depositary nor the Custodian shall, under any circumstances exercise any discretion as to voting, and neither the Depositary nor the Custodian
shall vote, attempt to exercise the right to vote, or in any way make use of for purposes of establishing a quorum or otherwise, Deposited Securities represented by ADSs except pursuant to and in accordance with such written instructions from
Holders, including the deemed instruction to the Depositary to give a discretionary proxy to a person designated by the Company. Deposited Securities represented by ADSs for which (i) no timely voting instructions are received by the Depositary
from the Holder, or (ii) timely voting instructions are received by the Depositary from the Holder but such voting instructions fail to specify the manner in which the Depositary is to vote the Deposited Securities represented by such
Holder’s ADSs, shall be voted in the manner provided in this Article (15). Notwithstanding anything else contained herein, and subject to applicable law, regulation and the Memorandum and Articles of Association, the Depositary shall, if so
requested in writing by the Company, represent all Deposited Securities (whether or not voting instructions have been received in respect of such Deposited Securities from Holders as of the ADS Record Date) for the purpose of establishing quorum at
a meeting of shareholders. 
 There can be no assurance that Holders or Beneficial Owners generally or any Holder or Beneficial Owner in particular will
receive the notice described above with sufficient time to enable the Holder to return voting instructions to the Depositary in a timely manner. 

Notwithstanding the above, save for applicable provisions of the law of the Cayman Islands, and in accordance with the terms of Section 5.3 of the
Deposit Agreement, the Depositary shall not be liable for any failure to carry out any instructions to vote any of the Deposited Securities or the manner in which such vote is cast or the effect of such vote. 

  
 15 

 (16)    Changes Affecting Deposited Securities. Upon any change in par value, split-up, subdivision, cancellation, consolidation or any other reclassification of Deposited Securities, or upon any recapitalization, reorganization, merger, amalgamation or consolidation or sale of assets
affecting the Company or to which it otherwise is a party, any securities which shall be received by the Depositary or a Custodian in exchange for, or in conversion of or replacement or otherwise in respect of, such Deposited Securities shall, to
the extent permitted by law, be treated as new Deposited Securities under the Deposit Agreement, and the Receipts shall, subject to the provisions of the Deposit Agreement and applicable law, evidence ADSs representing the right to receive such
additional securities. Alternatively, the Depositary may, with the Company’s approval, and shall, if the Company shall so requests, subject to the terms of the Deposit Agreement and receipt of satisfactory documentation contemplated by the
Deposit Agreement, execute and deliver additional Receipts as in the case of a stock dividend on the Shares, or call for the surrender of outstanding Receipts to be exchanged for new Receipts, in either case, as well as in the event of newly
deposited Shares, with necessary modifications to this form of Receipt specifically describing such new Deposited Securities and/or corporate change. Notwithstanding the foregoing, in the event that any security so received may not be lawfully
distributed to some or all Holders, the Depositary may, with the Company’s approval, and shall if the Company requests, subject to receipt of satisfactory legal documentation contemplated in the Deposit Agreement, sell such securities at public
or private sale, at such place or places and upon such terms as it may deem proper and may allocate the net proceeds of such sales (net of fees and charges of, and expenses incurred by, the Depositary and/or a division or Affiliate(s) of the
Depositary and taxes and/or governmental charges) for the account of the Holders otherwise entitled to such securities and distribute the net proceeds so allocated to the extent practicable as in the case of a distribution received in cash pursuant
to the Deposit Agreement. The Depositary shall not be responsible for (i) any failure to determine that it may be lawful or feasible to make such securities available to Holders in general or any Holder in particular, (ii) any foreign
exchange exposure or loss incurred in connection with such sale, or (iii) any liability to the purchaser of such securities. 

(17)    Exoneration. None of the Depositary, the Custodian or the Company shall be obligated to do or perform any act which is
inconsistent with the provisions of the Deposit Agreement or shall incur any liability to Holders, Beneficial Owners or any third parties (i) if the Depositary, the Custodian or the Company or their respective controlling persons or agents
shall be prevented or forbidden from, or subjected to any civil or criminal penalty or restraint on account of, or delayed in, doing or performing any act or thing required by the terms of the Deposit Agreement and this Receipt, by reason of any
provision of any present or future law or regulation of the United States, the Cayman Islands or any other country, or of any other governmental authority or regulatory authority or stock exchange, or by reason of any provision, present or
future of the Memorandum and Articles of Association or any provision of or governing any Deposited Securities, or by reason of any act of God or war or other circumstances beyond its control, (including, without limitation, nationalization,
expropriation, currency restrictions, work stoppage, strikes, civil unrest, revolutions, rebellions, explosions and computer failure), (ii) by reason of any exercise of, or failure to exercise, any discretion provided for in the Deposit
Agreement or in the Memorandum and Articles of Association or provisions of or governing Deposited Securities, (iii) for any action or inaction of the Depositary, the Custodian or the Company or their respective controlling persons or agents in
reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder, any Beneficial Owner or authorized representative thereof, or any other person believed by it in good faith to be
competent to give such advice or information, (iv) for any inability by a Holder or Beneficial Owner to benefit from any distribution, offering, right or other benefit which is made available to holders of Deposited Securities but is not, under
the terms of the Deposit Agreement, made available to Holders of ADS or (v) for any special, consequential, indirect or punitive damages for any breach of the terms of the Deposit Agreement or otherwise. The Depositary, its controlling persons,
its agents (including without limitation, the Agents), any Custodian and the Company, its controlling persons and its agents may rely and shall be protected in acting upon any written notice, request, opinion or other document believed by it to be
genuine and to have been signed or presented by the proper party or parties. No disclaimer of liability under the Securities Act or the Exchange Act is intended by any provision of the Deposit Agreement. 

  
 16 

 (18)    Standard of Care. The Company and the Depositary and their respective
directors, officers, Affiliates, employees and agents (including without limitation, the Agents) assume no obligation and shall not be subject to any liability under the Deposit Agreement or the Receipts to Holders or Beneficial Owners or other
persons, except in accordance with Section 5.8 of the Deposit Agreement, provided, that the Company and the Depositary and their respective directors, officers, Affiliates, employees and agents (including without limitation, the Agents) agree
to perform their respective obligations specifically set forth in the Deposit Agreement without gross negligence or wilful misconduct. The Depositary and its directors, officers, Affiliates, employees and agents (including without limitation, the
Agents) shall not be liable for any failure to carry out any instructions to vote any of the Deposited Securities, or for the manner in which any vote is cast or the effect of any vote. The Depositary shall not incur any liability for any failure to
determine that any distribution or action may be lawful or reasonably practicable, for the content of any information submitted to it by the Company for distribution to the Holders or for any inaccuracy of any translation thereof, for any investment
risk associated with acquiring an interest in the Deposited Securities, for the validity or worth of the Deposited Securities or for any tax consequences that may result from the ownership of ADSs, Shares or Deposited Securities, for the credit-worthiness of any third party, for allowing any rights to lapse upon the terms of the Deposit Agreement or for the failure or timeliness of any notice from the Company or for any action or non action by it in
reliance upon the opinion, advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder or any other person believed by it in good faith to be competent to give such advice or information. The
Depositary and its agents (including without limitation, the Agents) shall not be liable for any acts or omissions made by a successor depositary whether in connection with a previous act or omission of the Depositary or in connection with any
matter arising wholly after the removal or resignation of the Depositary, provided that in connection with the issue out of which such potential liability arises the Depositary performed its obligations without gross negligence or willful misconduct
while it acted as Depositary. 

  
 17 

 (19)    Resignation and Removal of the Depositary; Appointment of Successor
Depositary. The Depositary may at any time resign as Depositary under the Deposit Agreement by written notice of resignation delivered to the Company, such resignation to be effective on the earlier of (i) the 90th day after delivery
thereof to the Company (whereupon the Depositary shall, in the event no successor depositary has been appointed by the Company, be entitled to take the actions contemplated in the Deposit Agreement), or (ii) the appointment of a successor
depositary and its acceptance of such appointment as provided in the Deposit Agreement, save that, any amounts, fees, costs or expenses owed to the Depositary under the Deposit Agreement or in accordance with any other agreements otherwise agreed in
writing between the Company and the Depositary from time to time shall be paid to the Depositary prior to such resignation. The Company shall use reasonable efforts to appoint such successor depositary, and give notice to the Depositary of such
appointment, not more than 90 days after delivery by the Depositary of written notice of resignation as provided in the Deposit Agreement. The Depositary may at any time be removed by the Company by written notice of such removal which notice shall
be effective on the later of (i) the 90th day after delivery thereof to the Depositary (whereupon the Depositary shall be entitled to take the actions contemplated in the Deposit Agreement if a successor depositary has not been appointed), or
(ii) the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement save that, any amounts, fees, costs or expenses owed to the Depositary under the Deposit Agreement or in accordance with
any other agreements otherwise agreed in writing between the Company and the Depositary from time to time shall be paid to the Depositary prior to such removal. In case at any time the Depositary acting hereunder shall resign or be removed, the
Company shall use its best efforts to appoint a successor depositary which shall be a bank or trust company having an office in the Borough of Manhattan, the City of New York and if it shall have not appointed a successor depositary the provisions
referred to in Article (21) hereof and correspondingly in the Deposit Agreement shall apply. Every successor depositary shall be required by the Company to execute and deliver to its predecessor and to the Company an instrument in writing
accepting its appointment hereunder, and thereupon such successor depositary, without any further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor. The predecessor depositary, upon payment
of all sums due to it and on the written request of the Company, shall (i) execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder (other than as contemplated in the Deposit
Agreement), (ii) duly assign, transfer and deliver all right, title and interest to the Deposited Securities to such successor, and (iii) deliver to such successor a list of the Holders of all outstanding Receipts and such other
information relating to Receipts and Holders thereof as the successor may reasonably request. Any such successor depositary shall promptly mail notice of its appointment to such Holders. Any corporation into or with which the Depositary may be
merged or consolidated shall be the successor of the Depositary without the execution or filing of any document or any further act and, notwithstanding anything to the contrary in the Deposit Agreement, the Depositary may assign or otherwise
transfer all or any of its rights and benefits under the Deposit Agreement (including any cause of action arising in connection with it) to Deutsche Bank AG or any branch thereof or any entity which is a direct or indirect subsidiary or other
affiliate of Deutsche Bank AG. 
 (20)    Amendment/Supplement. Subject to the terms and conditions of this Article (20),
and applicable law, this Receipt and any provisions of the Deposit Agreement may at any time and from time to time be amended or supplemented by written agreement between the Company and the Depositary in any respect which they may deem necessary or
desirable without the consent of the Holders or Beneficial Owners. Any amendment or supplement which shall impose or increase any fees or charges (other than the charges of the Depositary in connection with foreign exchange control regulations, and
taxes and/or other governmental charges, delivery and other such expenses), or which shall otherwise materially prejudice any substantial existing right of Holders or Beneficial Owners, shall not, however, become effective as to outstanding Receipts
until 30 days after notice of such amendment or supplement shall have been given to the Holders of outstanding Receipts. Notice of any amendment to the Deposit Agreement or form of Receipts shall not need to describe in detail the specific
amendments effectuated thereby, and failure to describe the specific amendments in any such notice shall not render such notice invalid, provided, however, that, in each such case, the notice given to the Holders identifies a means for Holders and
Beneficial Owners to retrieve or receive the text of such amendment (i.e., upon retrieval from the Commission’s, the Depositary’s or the Company’s website or upon request from the Depositary). The parties hereto agree that any
amendments or supplements which (i) are reasonably necessary (as agreed by the Company and the Depositary) in order for (a) the ADSs to be registered on Form F-6 under the Securities Act or
(b) the ADSs or Shares to be traded solely in electronic book-entry form and (ii) do not in either such case impose or increase any fees or charges to be borne by Holders, shall be deemed not to
materially prejudice any substantial rights of Holders or Beneficial Owners. Every Holder and Beneficial Owner at the time any amendment or supplement so becomes effective shall be deemed, by continuing to hold such ADS, to consent and agree to such
amendment or supplement and to be bound by the Deposit Agreement as amended or supplemented thereby. In no event shall any amendment or supplement impair the right of the Holder to surrender such Receipt and receive therefor the Deposited Securities
represented thereby, except in order to comply with mandatory provisions of applicable law. Notwithstanding the foregoing, if any governmental body should adopt new laws, rules or regulations which would require amendment or supplement of the
Deposit Agreement to ensure compliance therewith, the Company and the Depositary may amend or supplement the Deposit Agreement and the Receipt at any time in accordance with such changed laws, rules or regulations. Such amendment or supplement to
the Deposit Agreement in such circumstances may become effective before a notice of such amendment or supplement is given to Holders or within any other period of time as required for compliance with such laws, or rules or regulations. 

  
 18 

 (21)    Termination. The Depositary shall, at any time at the written direction
of the Company, terminate the Deposit Agreement by mailing notice of such termination to the Holders of all Receipts then outstanding at least 90 days prior to the date fixed in such notice for such termination provided that, the Depositary
shall be reimbursed for any amounts, fees, costs or expenses owed to it in accordance with the terms of the Deposit Agreement and in accordance with any other agreements as otherwise agreed in writing between the Company and the Depositary from time
to time, prior to such termination shall take effect. If 90 days shall have expired after (i) the Depositary shall have delivered to the Company a written notice of its election to resign, or (ii) the Company shall have delivered to
the Depositary a written notice of the removal of the Depositary, and in either case a successor depositary shall not have been appointed and accepted its appointment as provided herein and in the Deposit Agreement, the Depositary may terminate the
Deposit Agreement by mailing notice of such termination to the Holders of all Receipts then outstanding at least 30 days prior to the date fixed for such termination. On and after the date of termination of the Deposit Agreement, each Holder
will, upon surrender of such Holder’s Receipt at the Corporate Trust Office of the Depositary, upon the payment of the charges of the Depositary for the surrender of Receipts referred to in Article (2) hereof and in the Deposit Agreement
and subject to the conditions and restrictions therein set forth, and upon payment of any applicable taxes and/or governmental charges, be entitled to delivery, to him or upon his order, of the amount of Deposited Securities represented by such
Receipt. If any Receipts shall remain outstanding after the date of termination of the Deposit Agreement, the Registrar thereafter shall discontinue the registration of transfers of Receipts, and the Depositary shall suspend the distribution of
dividends to the Holders thereof, and shall not give any further notices or perform any further acts under the Deposit Agreement, except that the Depositary shall continue to collect dividends and other distributions pertaining to Deposited
Securities, shall sell rights or other property as provided in the Deposit Agreement, and shall continue to deliver Deposited Securities, subject to the conditions and restrictions set forth in the Deposit Agreement, together with any dividends or
other distributions received with respect thereto and the net proceeds of the sale of any rights or other property, in exchange for Receipts surrendered to the Depositary (after deducting, or charging, as the case may be, in each case the charges of
the Depositary for the surrender of a Receipt, any expenses for the account of the Holder in accordance with the terms and conditions of the Deposit Agreement and any applicable taxes and/or governmental charges or assessments). At any time after
the expiration of six months from the date of termination of the Deposit Agreement, the Depositary may sell the Deposited Securities then held hereunder and may thereafter hold uninvested the net proceeds of any such sale, together with any other
cash then held by it hereunder, in an unsegregated account, without liability for interest for the pro rata benefit of the Holders of Receipts whose Receipts have not theretofore been surrendered. After making such sale, the Depositary shall be
discharged from all obligations under the Deposit Agreement with respect to the Receipts and the Shares, Deposited Securities and ADSs, except to account for such net proceeds and other cash (after deducting, or charging, as the case may be, in each
case the charges of the Depositary for the surrender of a Receipt, any expenses for the account of the Holder in accordance with the terms and conditions of the Deposit Agreement and any applicable taxes and/or governmental charges or assessments)
and except as set forth in the Deposit Agreement. Upon the termination of the Deposit Agreement, the Company shall be discharged from all obligations under the Deposit Agreement except as set forth in the Deposit Agreement. The obligations under the
terms of the Deposit Agreement and Receipts of Holders and Beneficial Owners of ADSs outstanding as of the effective date of any termination shall survive such effective date of termination and shall be discharged only when the applicable ADSs are
presented by their Holders to the Depositary for cancellation under the terms of the Deposit Agreement and the Holders have each satisfied any and all of their obligations hereunder (including, but not limited to, any payment and/or reimbursement
obligations which relate to prior to the effective date of termination but which payment and/or reimbursement is claimed after such effective date of termination). 

  
 19 

 Notwithstanding anything contained in the Deposit Agreement or any ADR, in connection with the termination
of the Deposit Agreement, the Depositary may, independently and without the need for any action by the Company, make available to Holders of ADSs a means to withdraw the Deposited Securities represented by their ADSs and to direct the deposit of
such Deposited Securities into an unsponsored American depositary shares program established by the Depositary, upon such terms and conditions as the Depositary may deem reasonably appropriate, subject however, in each case, to satisfaction of the
applicable registration requirements by the unsponsored American depositary shares program under the Securities Act, and to receipt by the Depositary of payment of the applicable fees and charges of, and reimbursement of the applicable expenses
incurred by, the Depositary. 
 (22)    Compliance with U.S. Securities Laws; Regulatory Compliance. Notwithstanding any
provisions in this Receipt or the Deposit Agreement to the contrary, the withdrawal or Delivery of Deposited Securities will not be suspended by the Company or the Depositary except as would be permitted by Section I.A.(1) of the General
Instructions to Form F-6 Registration Statement, as amended from time to time, under the Securities Act. 

(23)    Certain Rights of the Depositary. The Depositary, its Affiliates and their agents, on their own behalf, may own and deal in
any class of securities of the Company and its Affiliates and in ADSs. The Depositary may issue ADSs against evidence of rights to receive Shares from the Company, any agent of the Company or any custodian, registrar, transfer agent, clearing agency
or other entity involved in ownership or transaction records in respect of the Shares. 
 (24)    Ownership Restrictions. Owners
and Beneficial Owners shall comply with any limitations on ownership of Shares under the Memorandum and Articles of Association or applicable Cayman Islands law as if they held the number of Shares their American Depositary Shares represent. The
Company shall inform the Owners, Beneficial Owners and the Depositary of any such ownership restrictions in place from time to time. 

  
 20 

 (25)    Waiver. EACH PARTY TO THE DEPOSIT AGREEMENT (INCLUDING, FOR AVOIDANCE OF
DOUBT, EACH HOLDER AND BENEFICIAL OWNER AND/OR HOLDER OF INTERESTS IN ANY ADRs) HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING AGAINST THE
DEPOSITARY AND/OR THE COMPANY DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE SHARES OR OTHER DEPOSITED SECURITIES, THE ADSs OR THE ADRs, THE DEPOSIT AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN OR THEREIN, OR THE BREACH HEREOF OR
THEREOF (WHETHER BASED ON CONTRACT, TORT, COMMON LAW OR ANY OTHER THEORY). 

  
 21 

 (ASSIGNMENT AND TRANSFER SIGNATURE LINES) 

FOR VALUE RECEIVED, the undersigned Holder hereby sell(s), assign(s) and transfer(s) unto
                                         whose
taxpayer identification number is
                                         and
whose address including postal zip code is
                                        , the
within Receipt and all rights thereunder, hereby irrevocably constituting and appointing
                                         attorney-in-fact to transfer said Receipt on the books of the Depositary with full power of substitution in the premises. 

 

							
	 Dated:
	 		 		 	Name:
                                         
                                   
		 		 	 By:
	 	
		 		 	Title:	 	
		 		 		 	  
 NOTICE: The signature of the Holder to this assignment must
correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatsoever.

				
		 		 		 	If the endorsement be executed by an attorney, executor, administrator, trustee or guardian, the person executing the endorsement must give his/her full title in such capacity and proper evidence of authority to act in such
capacity, if not on file with the Depositary, must be forwarded with this Receipt.

  

			
	 SIGNATURE GUARANTEED
	 	
	  

                     
                               
	 	

  
 22

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