Document:

Exhibit 10.1

 

DEFINITIVE
SHARE EXCHANGE AGREEMENT

 

This
Definitive Share Exchange Agreement (“Agreement”), dated as of September 30, 2019, is among Shengshi International
Holdings Co., Ltd.  (“SHENGSHI”), a Cayman Islands corporation located at No.12, Yingtai Road, Dalang Street,
Longhua District, ShenZhen, China, the shareholders of SHENGSHI listed on Exhibit A attached hereto (collectively, the
“Shareholders”), Shengshi Elevator International Holding Group Inc. (“SSDT”), located at No.12, Yingtai
Road, Dalang Street, Longhua District, ShenZhen, China, and Jun Chen, the majority shareholder of SSDT (“Chen”). Collectively,
the Shareholders, SHENGSHI, SSDT and Chen are the “Parties.”

 

The
parties hereby enter into this Agreement, following which,

 

		1.	SSDT
                                         will own 500,000,000 common shares of SHENGSHI, representing one hundred percent (100%)
                                         of its issued and outstanding shares;

 

		2.	The
                                         Shareholders will acquire 600,000,000 shares of SSDT common shares representing 99.34%
                                         of SSDT’s outstanding shares (the “Share Exchange”), calculated post-issuance;

 

		3.	SHENGSHI
                                         will hold no common shares of SSDT, as the wholly-owned subsidiary of SSDT.

 

RECITALS

 

WHEREAS,
the Shareholders currently hold 500,000,000 shares of common stock, with a stated capital of $50,000, issued and outstanding of
SHENGSHI and is desirous of relinquishing all of their SHENGSHI shares so that they would be issued 600,000,000 shares, as per
Exhibit A, of SSDT common stock and that 603,970,000 shares of SSDT common stock would be outstanding; their ownership
from this issuance would represent 99.34% of SSDT’s outstanding shares; and that SHENGSHI would be a wholly-owned subsidiary
of SSDT.

 

WHEREAS,
Chen currently owns 3,000,000 shares of common stock of SSDT, representing a controlling voting interest, and is desirous of SHENGSHI
becoming a wholly-owned subsidiary of SSDT.

 

WHEREAS,
SSDT, Chen, and SHENGSHI are desirous of SSDT acquiring 100% of the outstanding shares of SHENGSHI, issuing 600,000,000 shares
of SSDT common stock in the process, making SHENGSHI a wholly-owned subsidiary of SSDT.

 

WHEREAS,
the board of directors and the Shareholders of SSDT and SHENGSHI, respectively, have each agreed to issue and exchange shares,
as necessary to cause the forgoing results, upon the terms, and subject to the conditions, set forth in this Agreement.

 

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WHEREAS,
it is intended that, for federal income tax purposes, the Share Exchange shall qualify as a reorganization under the provisions
of Section 368(a)(1)(B) of the Internal Revenue Code of 1986, as amended (the “Code”), and the rules and regulations
promulgated thereunder, and be tax-free pursuant to Section 351(a) of the Code.

 

WHEREAS,
the Parties desire to make certain representations, warranties, covenants and agreements in connection with this Agreement.

 

NOW,
THEREFORE, in consideration of the premises and mutual promises herein made, and in consideration of the representations,
warranties, covenants and agreements herein contained, and intending to be legally bound hereby, the Parties agree as follows:

 

INCORPORATION
OF RECITALS BY REFERENCE. The Recitals are hereby incorporated herein by this reference, as if fully restated herein.

 

ARTICLE
I

DEFINITIONS

 

I.1
Certain Definitions. The following terms shall, when used in this Agreement, have the following meanings:

 

“Acquisition”
means the acquisition of any businesses, assets or property other than in the ordinary course, whether by way of the purchase
of assets or stock, by SSDT acquiring one hundred percent (100%) of the outstanding shares of SHENGSHI pursuant to this Share
Exchange Agreement and the Shareholders acquiring 600,000,000 shares of SSDT.

 

“Affiliate”
means, with respect to any Person: (i) any Person directly or indirectly owning, controlling or holding with power to vote ten
percent (10%) or more of the outstanding voting securities of such other Person (other than passive or institutional investors);
(ii) any Person ten percent (10%) or more of whose outstanding voting securities are directly or indirectly owned, controlled
or held with power to vote, by such other Person; (iii) any Person directly or indirectly controlling, controlled by or under
common control with such other Person; and (iv) any officer, director or partner of such other Person. “Control” for
the foregoing purposes shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities or voting interests, by contract or otherwise.

 

“Business
Day” means any day other than Saturday, Sunday or a day on which banking institutions in New York, New York, are required
or authorized to be closed.

 

“Code”
means the United States Internal Revenue Code of 1986, as amended.

 

“Collateral
Documents” mean the Exhibits and any other documents, instruments and certificates to be executed and delivered by the Parties
hereunder or there under.

 

“Commission”
means the Securities and Exchange Commission or any Regulatory Authority that succeeds to its functions.

 

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“Effective
Time” means, the moment in time when the shares of the SSDT are exchanged for the shares of SHENGSHI.

 

“Encumbrance”
means any material mortgage, pledge, lien, encumbrance, charge, security interest, security agreement, conditional sale or other
title retention agreement, limitation, option, assessment, restrictive agreement, restriction, adverse interest, restriction on
transfer or exception to or material defect in title or other ownership interest (including restrictive covenants, leases and
licenses).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations there under.

 

“GAAP”
means United States generally accepted accounting principles as in effect from time to time.

 

“Legal
Requirement” means any statute, ordinance, law, rule, regulation, code, injunction, judgment, order, decree, ruling, or
other requirement enacted, adopted or applied by any Regulatory Authority, including judicial decisions applying common law or
interpreting any other Legal Requirement.

 

“Losses”
shall mean all damages, awards, judgments, assessments, fines, sanctions, penalties, charges, costs, expenses, payments, diminutions
in value and other losses, however suffered or characterized, all interest thereon, all costs and expenses of investigating any
claim, lawsuit or arbitration and any appeal there from, all actual attorneys’, accountants’ investment bankers’
and expert witness’ fees incurred in connection therewith, whether or not such claim, lawsuit or arbitration is ultimately
defeated and, subject to Section 9.4, all amounts paid incident to any compromise or settlement of any such claim, lawsuit or
arbitration.

 

“Liability”
means any liability or obligation (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether
accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due), including any liability for Taxes.

 

“Material
Adverse Effect” means a material adverse effect on (i) the assets, Liabilities, properties or business of the Parties, (ii)
the validity, binding effect or enforceability of this Agreement or the Collateral Documents or (iii) the ability of any Party
to perform its obligations under this Agreement and the Collateral Documents; provided, however, that none of the following shall
constitute a Material Adverse Effect on SSDT: (i) the filing, initiation and subsequent prosecution, by or on behalf of Shareholder
of any Party, of litigation that challenges or otherwise seeks damages with respect to the Share Exchange, this Agreement and/or
transactions contemplated thereby or hereby, (ii) occurrences due to a disruption of a Party’s business as a result of the
announcement of the execution of this Agreement or changes caused by the taking of action required by this Agreement, (iii) general
economic conditions, or (iv) any changes generally affecting the industries in which a Party operates.

 

“Exchange
Shares” means 500,000,000 common shares of SHENGSHI held by the Shareholder (the “SHENGSHI Shares”), exchanged
by the Shareholder to SSDT, for 600,000,000 newly issued shares of SSDT (the “SSDT Shares”).

 

“SSDT
Business” means the business conducted by SSDT.

 

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“SSDT
Common Stock” means the common shares of SSDT.

 

“Permit”
means any license, permit, consent, approval, registration, authorization, qualification or similar right granted by a Regulatory
Authority.

 

“Permitted
Liens” means (i) liens for Taxes not yet due and payable or being contested in good faith by appropriate proceedings; (ii)
rights reserved to any Regulatory Authority to regulate the affected property; (iii) statutory liens of banks and rights of set
off; (iv) as to leased assets, interests of the lessors and sub-lessors thereof and liens affecting the interests of the lessors
and sub-lessors thereof; (v) inchoate material men’s, mechanics’, workmen’s, repairmen’s or other like
liens arising in the ordinary course of business; (vi) liens incurred or deposits made in the ordinary course in connection with
workers’ compensation and other types of social security; (vii) licenses of trademarks or other intellectual property rights
granted by SSDT, in the ordinary course and not interfering in any material respect with the ordinary course of the business of
SSDT; and (viii) as to real property, any encumbrance, adverse interest, constructive or other trust, claim, attachment, exception
to or defect in title or other ownership interest (including, but not limited to, reservations, rights of entry, rights of first
refusal, possibilities of reversion, encroachments, easement, rights of way, restrictive covenants, leases, and licenses) of any
kind, which otherwise constitutes an interest in or claim against property, whether arising pursuant to any Legal Requirement,
under any contract or otherwise, that do not, individually or in the aggregate, materially and adversely affect or impair the
value or use thereof as it is currently being used in the ordinary course.

 

“Person”
means any natural person, corporation, partnership, trust, unincorporated organization, association, Limited Liability Company,
Regulatory Authority or other entity.

 

“Proposed
Acquisition” means any of the following transactions (other than the transactions contemplated by this Agreement): (i) a
merger, consolidation, business combination, recapitalization, liquidation, dissolution or similar transaction involving SSDT
pursuant to which the Shareholder of SSDT immediately preceding such transaction hold less than fifty percent (50%) of the aggregate
equity interests in the surviving or resulting entity of such transaction, (ii) a sale or other disposition by SSDT of assets
representing in excess of fifty percent (50%) of the aggregate fair market value of SSDT Business immediately prior to such sale
or (iii) the acquisition by any person or group (including by way of a tender offer or an exchange offer or issuance by SSDT),
directly or indirectly, of beneficial ownership or a right to acquire beneficial ownership of shares representing in excess of
fifty percent (50%) of the voting power of the then outstanding shares of capital stock of SSDT.

 

“Regulatory
Authority” means: (i) the United States of America; (ii) any state, commonwealth, territory or possession of the United
States of America and any political subdivision thereof (including counties, municipalities and the like); (iii) Canada and any
other foreign (as to the United States of America) sovereign entity and any political subdivision thereof; or (iv) any agency,
authority or instrumentality of any of the foregoing, including any court, tribunal, department, bureau, commission or board.

 

“Representative”
means any director, officer, employee, agent, consultant, advisor or other representative of a Person, including legal counsel,
accountants and financial advisors.

 

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“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations there under.

 

“Subsidiary”
of a specified Person means (a) any Person if securities having ordinary voting power (at the time in question and without regard
to the happening of any contingency) to elect a majority of the directors, trustees, managers or other governing body of such
Person are held or controlled by the specified Person or a Subsidiary of the specified Person; (b) any Person in which the specified
Person and its subsidiaries collectively hold a fifty percent (50%) or greater equity interest; (c) any partnership or similar
organization in which the specified Person or subsidiary of the specified Person is a general partner; or (d) any Person the management
of which is directly or indirectly controlled by the specified Person and its Subsidiaries through the exercise of voting power,
by contract or otherwise.

 

“Tax”
means any U.S. or non U.S. federal, state, provincial, local or foreign income, gross receipts, license, payroll, employment,
excise, severance, stamp, occupation, premium, windfall profits, environmental, customs duties, capital, franchise, profits, withholding,
social security (or similar), unemployment, disability, real property, personal property, intangible property, recording, occupancy,
sales, use, transfer, registration, value added minimum, estimated or other tax of any kind whatsoever, including any interest,
additions to tax, penalties, fees, deficiencies, assessments, additions or other charges of any nature with respect thereto, whether
disputed or not.

 

“Tax
Return” means any return, declaration, report, claim for refund or credit or information return or statement relating to
Taxes, including any schedule or attachment thereto, and including any amendment thereof.

 

“Treasury
Regulations” means regulations promulgated by the U.S. Treasury Department under the Code.

 

ARTICLE
II

THE
SHARE EXCHANGE

 

II.1
Share Exchange. In accordance with and subject to the provisions of this Agreement and the Nevada Revised Statutes (the
“Code”), at the Effective Time, SHENGSHI shall become a wholly-owned subsidiary of SSDT, and SSDT shall be the sole
shareholder and shall continue in its existence until a merger, if any. Pursuant to the Share Exchange, the Shareholders are relinquishing
all of their SHENGSHI common shares, constituting one hundred percent (100%) of the issued and outstanding shares of SHENGSHI
(the “SHENGSHI Shares”), and is acquiring 600,000,000 shares of SSDT (the “SSDT Shares”), representing
99.34% of the outstanding shares of SSDT; SSDT is issuing 600,000,000 of its shares, and is acquiring the 500,000,000 SHENGSHI
Shares; and becoming the wholly-owned subsidiary of SSDT.

 

II.2
Stock Transfer Books. Effective immediately, the stock transfer books of SSDT shall be delivered to SHENGSHI.

 

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II.3
Restriction on Transfer. The Exchange Shares may not be sold, transferred, or otherwise disposed of without registration
under the Act or an exemption therefrom, and that in the absence of an effective registration statement covering the Share Exchange
Shares or any available exemption from registration under the Act, the Share Exchange Shares must be held indefinitely. The Parties
are aware that the Share Exchange Shares may not be sold pursuant to Rule 144 promulgated under the Act unless all of the conditions
of that Rule are met. Among the conditions for use of Rule 144 may be the availability of current information to the public about
the Surviving Company.

 

II.4
Restrictive Legend. All certificates representing the Exchange Shares shall contain an appropriate restrictive legend.

 

II.5
Closing. The closing of the transactions contemplated by this Agreement and the Collateral Documents (the “Closing”)
shall take place via conference call at the offices of McMurdo Law Group LLC 1185 Avenue of the Americas 3rd Floor
New York, New York 10036, or at such other location as the parties may agree at 10:00 AM, EST Time on the agreed date, which,
shall be concurrent with the signing hereof (the “Closing Date”).

 

ARTICLE
III

REPRESENTATIONS
AND WARRANTIES OF SSDT

 

SSDT
represents and warrants to the Shareholder that the statements contained in this ARTICLE III are correct and complete as of the
date of this Agreement and, except as provided in Section 7.1, will be correct and complete as of the Closing Date (as though
made then and as though the Closing Date were substituted for the date of this Agreement throughout this ARTICLE III, except in
the case of representations and warranties stated to be made as of the date of this Agreement or as of another date and except
for changes contemplated or permitted by this Agreement).

 

III.1
Organization and Qualification. SSDT is a corporation duly organized, validly existing and in good standing under the laws
of its respective jurisdiction of organization. SSDT has all requisite power and authority to own, lease and use its assets as
they are currently owned, leased and used and to conduct its business as it is currently conducted. SSDT is duly qualified or
licensed to do business in and is in good standing in each jurisdiction in which the character of the properties owned, leased
or used by it or the nature of the activities conducted by it make such qualification necessary, except any such jurisdiction
where the failure to be so qualified or licensed would not have a Material Adverse Effect on SSDT or a material adverse effect
on the validity, binding effect or enforceability of this Agreement or the Collateral Documents or the ability of SSDT to perform
its obligations under this Agreement or any of the Collateral Documents.

 

III.2
Capitalization.

 

(a) The
authorized capital stock and other ownership interests of SSDT, a Nevada corporation, consists of 1,000,000,000 common shares
of Common Stock, of which 3,970,000 were issued and outstanding as of September 17, 2019, 3,000,000 of which were held by Chen.
All of the outstanding SSDT Common Stock have been duly authorized and are validly issued, fully paid and non-assessable.

 

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(b) Other
than what has been described herein or in SSDT’s public filings, there are no outstanding or authorized options, warrants,
purchase rights, preemptive rights or other contracts or commitments that could require SSDT to issue, sell, or otherwise cause
to become outstanding any of its capital stock or other ownership interests (collectively “Options”).

 

(c) All
of the issued and outstanding shares of SSDT Common Stock and SSDT Preferred Stock have been duly authorized and are validly issued
and outstanding, fully paid and non-assessable and have been issued in compliance with applicable securities laws and other applicable
Legal Requirements or transfer restrictions under applicable securities laws.

 

III.3 Authority
and Validity. SSDT has all requisite corporate power to execute and deliver, to perform its obligations under, and to consummate
the transactions contemplated by, this Agreement (subject to the approval of Chen as contemplated herein and subject to the receipt
of any necessary consents, approvals, authorizations or other matters referred to herein). The execution and delivery by SSDT
of, the performance by SSDT of its obligations under, and the consummation by SSDT of the transactions contemplated by, this Agreement
have been duly authorized by all requisite action of SSDT (subject to the approval of Chen as contemplated herein). This Agreement
has been duly executed and delivered by SSDT and (assuming due execution and delivery by the Shareholder and approval by Chen
and Xukai Jin) is the legal, valid and binding obligation of SSDT, enforceable against it in accordance with its terms, except
that such enforcement may be subject to (i) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
or relating to enforcement of creditors’ rights generally and (ii) general equitable principles. Upon the execution and
delivery of the Collateral Documents by each Person (other than by the Shareholder) that is required by this Agreement to execute,
or that does execute, this Agreement or any of the Collateral Documents, and assuming due execution and delivery thereof by the
Shareholder, the Collateral Documents will be the legal, valid and binding obligations of SSDT, enforceable against SSDT in accordance
with their respective terms, except that such enforcement may be subject to (i) bankruptcy, insolvency, reorganization, moratorium
or other similar laws affecting or relating to enforcement of creditors’ rights generally and (ii) general equitable principles.

 

III.4 No
Breach or Violation. Subject to obtaining the consents, approvals, authorizations, and orders of and making the registrations
or filings with or giving notices to Regulatory Authorities and Persons identified herein, the execution, delivery and performance
by SSDT of this Agreement and the Collateral Documents to which it is a party, and the consummation of the transactions contemplated
hereby and thereby in accordance with the terms and conditions hereof and thereof, do not and will not conflict with, constitute
a violation or breach of, constitute a default or give rise to any right of termination or acceleration of any right or obligation
of SSDT under, or result in the creation or imposition of any Encumbrance upon SSDT, SSDT Assets, SSDT Business or SSDT Common
Stock by reason of the terms of (i) the articles of incorporation, by laws or other charter or organizational document of SSDT
or any Subsidiary of SSDT, (ii) any material contract, agreement, lease, indenture or other instrument to which SSDT is a party
or by or to which SSDT, or the Assets may be bound or subject and a violation of which would result in a Material Adverse Effect
on SSDT, (iii) any order, judgment, injunction, award or decree of any arbitrator or Regulatory Authority or any statute, law,
rule or regulation applicable to SSDT or (iv) any Permit of SSDT, which in the case of (ii), (iii) or (iv) above would have a
Material Adverse Effect on SSDT or a material adverse effect on the validity, binding effect or enforceability of this Agreement
or the Collateral Documents or the ability of SSDT to perform its obligations under this Agreement or any of the Collateral Documents.

 

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III.5 Consents
and Approvals. Except for requirements described in Schedule 3.5, no consent, approval, authorization or order of, registration
or filing with, or notice to, any Regulatory Authority or any other Person is necessary to be obtained, made or given by SSDT
in connection with the execution, delivery and performance by SSDT of this Agreement or any Collateral Document or for the consummation
by SSDT of the transactions contemplated hereby or thereby, except to the extent the failure to obtain any such consent, approval,
authorization or order or to make any such registration or filing would not have a Material Adverse Effect on SSDT or a material
adverse effect on the validity, binding effect or enforceability of this Agreement or the Collateral Documents or the ability
of SSDT to perform its obligations under this Agreement or any of the Collateral Documents.

 

III.6 Intellectual
Property. SSDT warrants that it has good title to or the right to use all material company intellectual property rights and
all material inventions, processes, designs, formulae, trade secrets and know how necessary for the operation of SSDT Business
without the payment of any royalty or similar payment.

 

III.7 Compliance
with Legal Requirements. SSDT has operated its business in compliance with all Legal Requirements applicable to SSDT except
to the extent the failure to operate in compliance with all material Legal Requirements would not have a Material Adverse Effect
on SSDT or Material Adverse Effect on the validity, binding effect or enforceability of this Agreement or the Collateral Documents.

 

III.8 Litigation.
There are no outstanding judgments or orders against or otherwise affecting or related to SSDT, SSDT Business or SSDT Assets and
there is no action, suit, complaint, proceeding or investigation, judicial, administrative or otherwise, that is pending or, to
SSDT’s knowledge, threatened that, if adversely determined, would have a Material Adverse Effect on SSDT or a material adverse
effect on the validity, binding effect or enforceability of this Agreement or the Collateral Documents, except as noted in the
audited Company Financial Statements or documented by SSDT to the Shareholder.

 

III.9 Taxes.
SSDT has duly and timely filed in proper form all Tax Returns for all Taxes required to be filed with the appropriate Regulatory
Authority, and has paid all taxes required to be paid in respect thereof except where such failure would not have a Material Adverse
Effect on SSDT, except where, if not filed or paid, the exception(s) have been documented by SSDT to the Shareholder.

 

III.10 Books
and Records. The books and records of SSDT accurately and fairly represent SSDT Business and its results of operations in
all material respects.

 

III.11 Brokers
or Finders. All negotiations relative to this Agreement and the transactions contemplated hereby have been carried out by
SSDT and/or its Affiliates/Representatives in connection with the transactions contemplated by this Agreement, neither SSDT, nor
any of its Affiliates/Representatives have incurred any obligation to pay any brokerage or finder’s fee or other commission
in connection with the transaction contemplated by this Agreement.

 

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III.12 Disclosure.
No representation or warranty of SSDT in this Agreement or in the Collateral Documents and no statement in any certificate furnished
or to be furnished by SSDT pursuant to this Agreement contained, contains or will contain on the date such agreement or certificate
was or is delivered, or on the Closing Date, any untrue statement of a material fact, or omitted, omits or will omit on such date
to state any material fact necessary in order to make the statements made, in light of the circumstances under which they were
made, not misleading.

 

III.13 No
Undisclosed Liabilities. SSDT is not subject to any material liability (including unasserted claims), absolute or contingent,
which is not shown or which is in excess of amounts shown or reserved for in the balance sheet as of June 30, 2019 other than
liabilities of the same nature as those set forth in SSDT Financial Statements and reasonably incurred in the ordinary course
of its business after June 30, 2019.

 

III.14 Absence
of Certain Changes. Since June 30, 2019, SSDT has not: (a) suffered any material adverse change in its financial condition,
assets, liabilities or business; (b) contracted for or paid any capital expenditures; (c) incurred any indebtedness or borrowed
money, issued or sold any debt or equity securities, declared any dividends or discharged or incurred any liabilities or obligations
except in the ordinary course of business as heretofore conducted; (d) mortgaged, pledged or subjected to any lien, lease, security
interest or other charge or encumbrance any of its properties or assets; (e) paid any material amount on any indebtedness prior
to the due date, forgiven or cancelled any material amount on any indebtedness prior to the due date, forgiven or cancelled any
material debts or claims or released or waived any material rights or claims; (f) suffered any damage or destruction to or loss
of any assets (whether or not covered by insurance); (g) acquired or disposed of any assets or incurred any liabilities or obligations;
(h) made any payments to its affiliates or associates or loaned any money to any person or entity; (i) formed or acquired or disposed
of any interest in any corporation, partnership, limited liability company, joint venture or other entity; (j) entered into any
employment, compensation, consulting or collective bargaining agreement or any other agreement of any kind or nature with any
person. Or group, or modified or amended in any respect the terms of any such existing agreement; (k) entered into any other commitment
or transaction or experience any other event that relates to or affect in any way this Agreement or to the transactions contemplated
hereby, or that has affected, or may adversely affect SSDT Business, operations, assets, liabilities or financial condition; or
(1) amended its Articles of Incorporation or By-laws, except as otherwise contemplated herein.

 

III.15 Contracts.
A true and complete list of all contracts, agreements, leases, commitments or other understandings or arrangements, written or
oral, express or implied, to which SSDT is a party or by which it or any of its property is bound or affected requiring payments
to or from, or incurring of liabilities by, SSDT in excess of $100,000 (the “Contracts”). The Company has complied
with and performed, in all material respects, all of its obligations required to be performed under and is not in default with
respect to any of the Contracts, as of the date hereof, nor has any event occurred which has not been cured which, with or without
the giving of notice, lapse of time, or both, would constitute a default in any respect there under. To the best knowledge of
SSDT, no other party has failed to comply with or perform, in all material respects, any of its obligations required to be performed
under or is in material default with respect to any such Contracts, as of the date hereof, nor has any event occurred which, with
or without the giving of notice, lapse of time or both, would constitute a material default in any respect by such party there
under. SSDT knows of and has no reason to believe that there are any facts or circumstances which would make a material default
by any party to any contract or obligation likely to occur subsequent to the date hereof.

 

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III.16 Permits
and Licenses. SSDT has all certificates of occupancy, rights, permits, certificates, licenses, franchises, approvals and other
authorizations as are reasonably necessary to conduct its business and to own, lease, use, operate and occupy its assets, at the
places and in the manner now conducted and operated, except those the absence of which would not materially adversely affect its
business. SSDT has not received any written or oral notice or claim pertaining to the failure to obtain any material permit, certificate,
license, approval or other authorization required by any federal, state or local agency or other regulatory body, the failure
of which to obtain would materially and adversely affect its business.

 

III.17 Assets
Necessary to Business. SSDT owns or leases all properties and assets, real, personal, and mixed, tangible and intangible,
and is a party to all licenses, permits and other agreements necessary to permit it to carry on its business as presently conducted.

 

III.18 Labor
Agreements and Labor Relations. SSDT has no collective bargaining or union contracts or agreements. SSDT is in compliance
with all applicable laws respecting employment and employment practices, terms and conditions of employment and wages and hours,
and is not engaged in any unfair labor practices; there are no charges of discrimination or unfair labor practice charges”
or complaints against SSDT pending or threatened before any governmental or regulatory agency or authority; and, there is no labor
strike, dispute, slowdown or stoppage actually pending or threatened against or affecting SSDT.

 

III.19 Employment
Arrangements. SSDT has no employment or consulting agreements or arrangements, written or oral, which are not terminable at
the will of SSDT, or any pension, profit-sharing, option, other incentive plan, or any other type of employment benefit plan as
defined in ERISA or otherwise, or any obligation to or customary arrangement with employees for bonuses, incentive compensation,
vacations, severance pay, insurance or other benefits. No employee of SSDT is in violation of any employment agreement or restrictive
covenant.

 

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ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES OF THE SHAREHOLDERS

 

The
Shareholders represent and warrant to SSDT that the statements contained in this ARTICLE IV are correct and complete as of the
date of this Agreement and, except as provided in Section 8.1, will be correct and complete as of the Closing Date (as though
made then and as though the Closing Date were substituted for the date of this Agreement throughout this ARTICLE IV, except in
the case of representations and warranties stated to be made as of the date of this Agreement or as of another date and except
for changes contemplated or permitted by the Agreement).

 

IV.1
Organization and Qualification. The Shareholders have all requisite power and authority to own, lease and use SHENGSHI’s
assets as they are currently owned, leased and used and to conduct its business as it is currently conducted. The Shareholders
are duly qualified or licensed to do business in and are each in good standing in each jurisdiction in which the character of
the properties owned, leased or used by it or the nature of the activities conducted by it makes such qualification necessary,
except any such jurisdiction where the failure to be so qualified or licensed and in good standing would not have a Material Adverse
Effect on the Shareholders or a Material Adverse Effect on the validity, binding effect or enforceability of this Agreement or
the Collateral Documents or the ability of SSDT or the Shareholder to perform their or its obligations under this Agreement or
any of the Collateral Documents.

 

IV.2 Capitalization.

 

(a) The
authorized capital stock of SHENGSHI is 500,000,000. 500,000,000 of the issued and outstanding shares of SHENGSHI Common Stock
are owned by the Shareholders. SHENGSHI has 500,000,000 shares of common stock issued and outstanding and no shares of Preferred
Stock authorized. All 500,000,000 shares of Common Stock are duly issued and outstanding, and have been duly authorized, validly
issued and outstanding and fully paid and non-assessable, which shares are exchanged hereby, as above provided.

 

(b) There
are no outstanding or authorized options, warrants, purchase rights, preemptive rights or other contracts or commitments that
could require SHENGSHI or any of its Subsidiaries to issue, sell, or otherwise cause to become outstanding any of its capital
stock or other ownership interests.

 

(c) All
of the issued and outstanding shares of the SHENGSHI capital stock have been duly authorized and are validly issued and outstanding,
fully paid and non-assessable (with respect to Subsidiaries that are corporations) and have been issued in compliance with applicable
securities laws and other applicable Legal Requirements.

 

IV.3 Authority
and Validity. The Shareholders have all requisite power to execute and deliver to perform his obligations under, and to consummate
the transactions contemplated by, this Agreement and the Collateral Documents. The execution and delivery by the Shareholder and
the performance by the Shareholders of their obligations under, and the consummation by the Shareholders of the transactions contemplated
by, this Agreement and the Collateral Documents have been duly authorized by all requisite action of the Shareholders. This Agreement
has been duly executed and delivered (assuming due execution and delivery by the Shareholders) is the legal, valid and binding
obligation of the Shareholders, enforceable in accordance with its terms except that such enforcement may be subject to (i) bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting or relating to enforcement of creditors’ rights generally
and (ii) general equitable principles. Upon the execution and delivery by the Shareholders of the Collateral Documents to which
they are a party, and assuming due execution and delivery thereof by the other parties thereto, the Collateral Documents will
be the legal, valid and binding obligations, enforceable in accordance with their respective terms except that such enforcement
may be subject to (i) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to enforcement
of creditors’ rights generally and (ii) general equitable principles.

 

    11

     

    

 

IV.4 No
Breach or Violation. Subject to obtaining the consents, approvals, authorizations, and orders of and making the registrations
or filings with or giving notices to Regulatory Authorities and Persons identified herein, the execution, delivery and performance
by the Shareholders of this Agreement and the Collateral Documents to which they are a party and the consummation of the transactions
contemplated hereby and thereby in accordance with the terms and conditions hereof and thereof, do not and will not conflict with,
constitute a violation or breach of, constitute a default or give rise to any right of termination or acceleration of any right
or obligation of the Shareholders under, or result in the creation or imposition of any Encumbrance upon the property of the Shareholders
by reason of the terms of (i) the articles of incorporation, by laws or other charter or organizational document of SHENGSHI,
(ii) any contract, agreement, lease, indenture or other instrument to which any the Shareholders or SHENGSHI are a party or by
or to which the Shareholders or SHENGSHI or their property may be bound or subject and a violation of which would result in a
Material Adverse Effect on the Shareholders or SHENGSHI taken as a whole, (iii) any order, judgment, injunction, award or decree
of any arbitrator or Regulatory Authority or any statute, law, rule or regulation applicable to the Shareholders or SHENGSHI or
(iv) any Permit of SHENGSHI or subsidiary, which in the case of (ii), (iii) or (iv) above would have a Material Adverse Effect
on SHENGSHI or a material adverse effect on the validity, binding effect or enforceability of this Agreement or the Collateral
Documents or the ability of the Shareholders or SHENGSHI to perform its obligations hereunder or there under.

 

IV.5 Consents
and Approvals. Except for requirements under applicable United States or state securities laws, no consent, approval, authorization
or order of, registration or filing with, or notice to, any Regulatory Authority or any other Person is necessary to be obtained,
made or given by the Shareholders in connection with the execution, delivery and performance by them of this Agreement or any
Collateral Documents or for the consummation by them of the transactions contemplated hereby or thereby, except to the extent
the failure to obtain such consent, approval, authorization or order or to make such registration or filings or to give such notice
would not have a Material Adverse Effect on the Shareholders, in the aggregate, or a material adverse effect on the validity,
binding effect or enforceability of this Agreement or the Collateral Documents or the ability of the Shareholders to perform their
obligations under this Agreement or any of the Collateral Documents.

 

IV.6 Compliance
with Legal Requirements. SHENGSHI’s business has operated in compliance with all material Legal Requirements including,
without limitation, the Securities Act applicable to SHENGSHI, except to the extent the failure to operate in compliance with
all material Legal Requirements, would not have a Material Adverse Effect on SHENGSHI or a Material Adverse Effect on the validity,
binding effect or enforceability of this Agreement or the Collateral Documents.

 

IV.7 Litigation.
There are no outstanding judgments or orders against or otherwise affecting or related to SHENGSHI, or the business or assets;
and there is no action, suit, complaint, proceeding or investigation, judicial, administrative or otherwise, that is pending or,
to the best knowledge of the Shareholders, threatened that, that has not been disclosed and if adversely determined, would have
a material adverse effect on the validity, binding effect or enforceability of this Agreement or the Collateral Documents.

 

    12

     

    

 

IV.8 Ordinary
Course. Since the date of its most recent balance sheet, there has not been any occurrence, event, incident, action, failure
to act or transaction involving SHENGSHI, which is reasonably likely, individually or in the aggregate, to have a Material Adverse
Effect on SHENGSHI.

 

IV.9 Assets
and Liabilities. As of the date of this Agreement, neither SHENGSHI nor any of its Subsidiaries has any Assets or Liability,
except for the (i) Liabilities disclosed in the balance sheet disclosed to SSDT through the date hereof and (ii) as described
in Exhibit B, attached hereto.

 

IV.10 Taxes.
SHENGSHI, and any Subsidiaries, have duly and timely filed in proper form all Tax Returns for all Taxes required to be filed with
the appropriate Governmental Authority, except where such failure to file would not have a Material Adverse Effect on SHENGSHI.

 

IV.11 Books
and Records. The books and records of SHENGSHI and any Subsidiaries accurately and fairly represent the SHENGSHI Business
and its results of operations in all material respects. All accounts receivable and inventory of the SHENGSHI Business are reflected
properly on such books and records in all material respects.

 

IV.12 Financial
and Other Information.

 

(a) Financial
statements of SHENGSHI and any Subsidiaries will be prepared in accordance with GAAP applied on a consistent basis throughout
the periods covered thereby (except as may be indicated in the notes thereto), and present fairly the financial condition of SHENGSHI
and its results of operations as of the dates and for the periods indicated, subject in the case of the unaudited financial statements
only to normal yearend adjustments (none of which will be material in amount) and the omission of footnotes.

 

(b) To
the knowledge of current management, SHENGSHI’s financials do not contain (directly or by incorporation by reference) any
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein (or incorporated therein by reference), in light of the circumstances under which they were or will be made, not misleading.

 

IV.13 Brokers
or Finders. All negotiations relative to this Agreement and the transactions contemplated hereby have been carried out by
SHENGSHI and/or its Affiliates/Representatives in connection with the transactions contemplated by this Agreement, neither SHENGSHI,
nor any of its Affiliates/Representatives have incurred any obligation to pay any brokerage or finder’s fee or other commission
in connection with the transaction contemplated by this Agreement.

 

IV.14 Disclosure.
No representation or warranty of the Shareholders in this Agreement or in the Collateral Documents and no statement in any certificate
furnished or to be furnished by the Shareholders pursuant to this Agreement contained, contains or will contain on the date such
agreement or certificate was or is delivered, or on the Closing Date, any untrue statement of a material fact, or omitted, omits
or will omit on such date to state any material fact necessary in order to make the statements made, in light of the circumstances
under which they were made, not misleading.

 

    13

     

    

 

IV.15 Filings.
Neither SHENGSHI nor the Shareholders are subject to filings required by the Securities Act of 1933, as amended, and the Exchange
Act of 1934, as amended. SHENGSHI and the Shareholders will make filings required to be made under such statutes and no such filing
will contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, not
misleading.

 

IV.16 Conduct
of Business. Prior to the Closing Date, SHENGSHI shall conduct its business in the normal course, and shall not sell, pledge,
or assign any assets, without the prior written approval of SSDT, except in the regular course of business. Except as otherwise
provided herein, SHENGSHI shall not amend its Articles of Incorporation or By-Laws, declare dividends, redeem or sell stock or
other securities, acquire or dispose of fixed assets, change employment terms, enter into any material or long-term contract,
guarantee obligations of any third party, settle or discharge any material balance sheet receivable for less than its stated amount,
pay more on any liability than its stated amount or enter into any other transaction other than in the regular course of business.

 

ARTICLE
V

COVENANTS
OF SSDT

 

Between
the date of this Agreement and the Closing Date:

 

V.1
Additional Information. SSDT shall provide to the Shareholders and their Representatives such financial, operating and
other documents, data and information relating to SSDT, SSDT Business and SSDT Assets and Liabilities, as the Shareholders or
their Representatives may reasonably request. In addition, SSDT shall take all action necessary to enable the Shareholders and
their Representatives to review, inspect and review SSDT Assets, SSDT Business and Liabilities of SSDT and discuss them with SSDT’s
officers, employees, independent accountants, customers, licensees, and counsel. Notwithstanding any investigation that the Shareholders
may conduct of SSDT, SSDT Business, SSDT Assets and the Liabilities of SSDT, the Shareholders may fully rely on SSDT’s warranties,
covenants and indemnities set forth in this Agreement.

 

V.2
Consents and Approvals. As soon as practicable after execution of this Agreement, SSDT shall use commercially reasonable
efforts to obtain any necessary consent, approval, authorization or order of, make any registration or filing with or give any
notice to, any Regulatory Authority or Person as is required to be obtained, made or given by SSDT to consummate the transactions
contemplated by this Agreement and the Collateral Documents.

 

V.3
Non-circumvention. SSDT will not, and it will cause its directors, officers, employees, agents and representatives not
to attempt, directly or indirectly, (i) to contact any party introduced to it by any of the Shareholders, or (ii) deal with, or
otherwise become involved in any transaction with any party which has been introduced to it by any of the Shareholders, without
the express written permission of the introducing party and without having entered into a commission agreement with the introducing
party. Any violation of the covenant shall be deemed an attempt to circumvent such Shareholder, and the party so violating this
covenant shall be liable for damages in favor of the circumvented party.

 

    14

     

    

 

V.4
No Solicitations. From and after the date of this Agreement until the Effective Time or termination of this Agreement pursuant
to ARTICLE X, SSDT will not nor will it authorize or permit any of its officers, directors, affiliates or employees or any investment
banker, attorney or other advisor or representative retained by it, directly or indirectly, (i) solicit or initiate the making,
submission or announcement of any other acquisition proposal, (ii) participate in any discussions or negotiations regarding, or
furnish to any person any nonpublic information with respect to any other acquisition proposal, (iii) engage in discussions with
any Person with respect to any other acquisition proposal, except as to the existence of these provisions, (iv) approve, endorse
or recommend any other acquisition proposal or (v) enter into any letter of intent or similar document or any contract agreement
or commitment contemplating or otherwise relating to any other acquisition proposal.

 

V.5
Notification of Adverse Change. SSDT shall promptly notify the Shareholders of any material adverse change in the condition
(financial or otherwise) of SSDT.

 

V.6
Notification of Certain Matters. SSDT shall promptly notify the Shareholders of any fact, event, circumstance or action
known to it that is reasonably likely to cause SSDT to be unable to perform any of their covenants contained herein or any condition
precedent in ARTICLE VII not to be satisfied, or that, if known on the date of this Agreement, would have been required to be
disclosed to the Shareholders pursuant to this Agreement or the existence or occurrence of which would cause any of SSDT’s
representations or warranties under this Agreement not to be correct and/or complete. SSDT shall give prompt written notice to
the Shareholders of any adverse development causing a breach of any of the representations and warranties in ARTICLE III as of
the date made.

 

V.7
The Company Disclosure Schedule. For purposes of determining the satisfaction of any of the conditions to the obligations
of the Shareholders in ARTICLE VII, SSDT disclosures shall be deemed to include only (a) the information contained therein on
the date of this Agreement and (b) information provided by written supplements delivered prior to Closing by SSDT that (i) are
accepted in writing by a majority of the Shareholders, or (ii) reflect actions taken or events occurring after the date hereof
prior to Closing.

 

V.8
State Statutes. SSDT and its Board of Directors shall, if any state takeover statute or similar law is or becomes applicable
to the Share Exchange, this Agreement or any of the transactions contemplated by this Agreement, use all reasonable efforts to
ensure that the Share Exchange and the other transactions contemplated by this Agreement may be consummated as promptly as practicable
on the terms contemplated by this Agreement and otherwise to minimize the effect of such statute or regulation on the Share Exchange,
this Agreement and the transactions contemplated hereby.

 

V.9
Conduct of Business. Prior to the Closing Date, SSDT shall conduct its business in the normal course, and shall not sell,
pledge, or assign any assets, without the prior written approval of a majority of the Shareholders, except in the regular course
of business. Except as otherwise provided herein, SSDT shall not amend its Articles of Incorporation or Bylaws, declare dividends,
redeem or sell stock or other securities, acquire or dispose of fixed assets, change employment terms, enter into any material
or long-term contract, guarantee obligations of any third party, settle or discharge any material balance sheet receivable for
less than its stated amount, pay more on any liability than its stated amount, or enter into any other transaction other than
in the regular course of business.

 

    15

     

    

 

V.10
Securities Filings. Until closing, SSDT will timely file all reports and other documents relating to the operation of SSDT
required to be filed with the Securities and Exchange Commission, which reports and other documents do not and will not contain
any misstatement of a material fact, and do not and will not omit any material fact necessary to make the statements therein not
misleading.

 

V.11
Election to SSDT’s Board of Directors. At the Effective Time of the Share Exchange, SSDT shall take all steps necessary
so that there will be at least one (1) continuing director.

 

ARTICLE
VI

COVENANTS
OF THE SHAREHOLDERS

 

Between
the date of this Agreement and the Closing Date,

 

VI.1
Additional Information. The Shareholders shall provide to SSDT and its Representatives such financial, operating and other
documents, data and information relating to SHENGSHI, SHENGSHI’s business and the SHENGSHI Assets and the Liabilities of
the SHENGSHI and its Subsidiaries, as SSDT or its Representatives may reasonably request. In addition, the Shareholder shall take
all action necessary to enable SSDT and its Representatives to review and inspect the SHENGSHI Assets, the SHENGSHI Business and
the Liabilities of SHENGSHI and discuss them with SSDT’s officers, employees, independent accountants and counsel. Notwithstanding
any investigation that SSDT may conduct of SHENGSHI, the SHENGSHI Business, the SHENGSHI Assets and the Liabilities of the SHENGSHI,
SSDT may fully rely on the Shareholders’ warranties, covenants and indemnities set forth in this Agreement.

 

VI.2
No Solicitations. From and after the date of this Agreement until the Effective Time or termination of this Agreement pursuant
to ARTICLE X, the Shareholders will not nor will they authorize or permit any of SHENGSHI’ officers, directors, affiliates
or employees or any investment banker, attorney or other advisor or representative retained by it, directly or indirectly, (i)
solicit or initiate the making, submission or announcement of any other acquisition proposal, (ii) participate in any discussions
or negotiations regarding, or furnish to any person any non-public information with respect to any other acquisition proposal,
(iii) engage in discussions with any Person with respect to any other acquisition proposal, except as to the existence of these
provisions, (iv) approve, endorse or recommend any other acquisition proposal or (v) enter into any letter of intent or similar
document or any contract agreement or commitment contemplating or otherwise relating to any other acquisition proposal.

 

VI.3
Notification of Adverse Change. The Shareholders shall promptly notify SSDT of any material adverse change in the condition
(financial or otherwise) of SHENGSHI.

 

VI.4
Consents and Approvals. As soon as practicable after execution of this Agreement, the Shareholders shall use his commercially
reasonable efforts to obtain any necessary consent, approval, authorization or order of, make any registration or filing with
or give notice to, any Regulatory Authority or Person as is required to be obtained, made or given by the Shareholders to consummate
the transactions contemplated by this Agreement and the Collateral Documents.

 

    16

     

    

 

VI.5
Notification of Certain Matters. The Shareholders shall promptly notify SSDT of any fact, event, circumstance or action
known to it that is reasonably likely to cause SHENGSHI to be unable to perform any of its covenants contained herein or any condition
precedent if not to be satisfied, or that, if known on the date of this Agreement, would have been required to be disclosed to
SSDT pursuant to this Agreement or the existence or occurrence of which would cause the Shareholder’s representations or
warranties under this Agreement not to be correct and/or complete. The Shareholder shall give prompt written notice to SSDT of
any adverse development causing a breach of any of the representations and warranties in ARTICLE IV.

 

VI.6
SHENGSHI Information. The Shareholders shall, from time to time prior to Closing, supplement the SHENGSHI disclosure with
additional information that, if existing or known to it on the date of this Agreement, would have been required to be included
therein.

 

ARTICLE
VII

CONDITIONS
PRECEDENT TO OBLIGATIONS OF THE PARTIES

 

All
obligations of the Parties under this Agreement shall be subject to the fulfillment at or prior to Closing of each of the following
conditions, it being understood that the Parties may, in their sole discretion, to the extent permitted by applicable Legal Requirements,
waive any or all of such conditions in whole or in part.

 

VII.1
Accuracy of Representations. All representations and warranties of SSDT contained in this Agreement, the Collateral Documents
and any certificate delivered by any of SSDT at or prior to Closing shall be, if specifically qualified by materiality, true in
all respects and, if not so qualified, shall be true in all material respects, in each case on and as of the Closing Date with
the same effect as if made on and as of the Closing Date, except for representations and warranties expressly stated to be made
as of the date of this Agreement or as of another date other than the Closing Date and except for changes contemplated or permitted
by this Agreement.

 

VII.2
Covenants. SSDT shall, in all material respects, have performed and complied with each of the covenants, obligations and
agreements contained in this Agreement and the Collateral Documents that are to be performed or complied with by them at or prior
to Closing.

 

VII.3
Consents and Approvals. All consents, approvals, permits, authorizations and orders required to be obtained from, and all
registrations, filings and notices required to be made with or given to, any Regulatory Authority or Person as provided herein.

 

VII.4
Delivery of Documents. SSDT shall have delivered, or caused to be delivered, to the Shareholder the following documents:

 

(i) Copies
of SSDT articles of incorporation and bylaws and resolutions of the board of directors of SSDT authorizing the execution of this
Agreement and the Collateral Documents to which it is a party and the consummation of the transactions contemplated hereby and
thereby.

 

    17

     

    

 

(ii) Such
other documents and instruments as the Shareholders may reasonably request: (A) to evidence the accuracy of SSDT’s representations
and warranties under this Agreement, the Collateral Documents and any documents, instruments or certificates required to be delivered
hereunder; (B) to evidence the performance by SSDT of, or the compliance by SSDT with, any covenant, obligation, condition and
agreement to be performed or complied with by SSDT under this Agreement and the Collateral Documents; or (C) to otherwise facilitate
the consummation or performance of any of the transactions contemplated by this Agreement and the Collateral Documents.

 

VII.5
No Material Adverse Change. Since the date hereof, there shall have been no material adverse change in SSDT Assets, SSDT
Business or the financial condition or operations of SSDT, taken as a whole.

 

ARTICLE
VIII

CONDITIONS
PRECEDENT TO OBLIGATIONS OF THE SHAREHOLDERS AND SSDT

 

All
obligations of the Shareholders under this Agreement shall be subject to the fulfillment at or prior to Closing of the following
conditions, it being understood that SSDT may, in its sole discretion, to the extent permitted by applicable Legal Requirements,
waive any or all of such conditions in whole or in part.

 

VIII.1
Accuracy of Representations. All representations and warranties of the Shareholders contained in this Agreement and the
Collateral Documents and any other document, instrument or certificate delivered by the Shareholders at or prior to the Closing
shall be, if specifically qualified by materiality, true and correct in all respects and, if not so qualified, shall be true and
correct in all material respects, in each case on and as of the Closing Date with the same effect as if made on and as of the
Closing Date, except for representations and warranties expressly stated to be made as of the date of this Agreement or as of
another date other than the Closing Date and except for changes contemplated or permitted by this Agreement.

 

VIII.2
Covenants. The Shareholder shall, in all material respects, have performed and complied with each obligation, agreement,
covenant and condition contained in this Agreement and the Collateral Documents and required by this Agreement and the Collateral
Documents to be performed or complied with by the Shareholders at or prior to Closing.

 

VIII.3
Consents and Approvals. All consents, approvals, authorizations and orders required to be obtained from, and all registrations,
filings and notices required to be made with or given to, any Regulatory Authority or Person as provided herein.

 

VIII.4
Delivery of Documents. The Shareholders shall have executed and delivered, or caused to be executed and delivered, to SSDT
the following documents:

 

Documents
and instruments as SSDT may reasonably request: (A) to evidence the accuracy of the representations and warranties of the Shareholders
under this Agreement and the Collateral Documents and any documents, instruments or certificates required to be delivered hereunder;
(B) to evidence the performance by the Shareholders of, or the compliance by the Shareholders with, any covenant, obligation,
condition and agreement to be performed or complied with by the Shareholders under this Agreement and the Collateral Documents;
or (C) to otherwise facilitate the consummation or performance of any of the transactions contemplated by this Agreement and the
Collateral Documents.

 

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VIII.5
No Material Adverse Change. There shall have been no material adverse change in the business, financial condition or operations
of SHENGSHI and its Subsidiaries taken as a whole.

 

VIII.6
No Litigation. No action, suit or proceeding shall be pending or threatened by or before any Regulatory Authority and no
Legal Requirement shall have been enacted, promulgated or issued or deemed applicable to any of the transactions contemplated
by this Agreement and the Collateral Documents that would: (i) prevent consummation of any of the transactions contemplated by
this Agreement and the Collateral Documents; (ii) cause any of the transactions contemplated by this Agreement and the Collateral
Documents to be rescinded following consummation; or (iii) have a Material Adverse Effect on SHENGSHI.

 

ARTICLE
IX

INDEMNIFICATION

 

IX.1
Indemnification by SSDT. SSDT shall indemnify, defend and hold harmless the Shareholders, and any of the Shareholders’
assigns and successors in interest to SSDT Shares, from and against any and all Losses which may be incurred or suffered by any
such party and which may arise out of or result from any breach of any material representation, warranty, covenant or agreement
of SSDT contained in this Agreement. All claims to be assorted hereunder must be made for the first anniversary of the Closing.

 

IX.2
Indemnification by the Shareholder. The Shareholders shall indemnify, defend and hold harmless SSDT from and against any
and all Losses which may be incurred or suffered by any such party hereto and which may arise out of or result from any breach
of any material representation, warranty, covenant or agreement of the Shareholder contained in this Agreement. All claims to
be assorted hereunder must be made for the first anniversary of the Closing.

 

IX.3
Notice to Indemnifying Party. If any party (the “Indemnified Party”) receives notice of any claim or other
commencement of any action or proceeding with respect to which any other party (or parties) (the “Indemnifying Party”)
is obligated to provide indemnification pursuant to Sections 9.1 or 9.2, the Indemnified Party shall promptly give the Indemnifying
Party written notice thereof, which notice shall specify in reasonable detail, if known, the amount or an estimate of the amount
of the liability arising here from and the basis of the claim. Such notice shall be a condition precedent to any liability of
the Indemnifying Party for indemnification hereunder, but the failure of the Indemnified Party to give prompt notice of a claim
shall not adversely affect the Indemnified Party’s right to indemnification hereunder unless the defense of that claim is
materially prejudiced by such failure. The Indemnified Party shall not settle or compromise any claim by a third party for which
it is entitled to indemnification hereunder without the prior written consent of the Indemnifying Party (which shall not be unreasonably
withheld or delayed) unless suit shall have been instituted against it and the Indemnifying Party shall not have taken control
of such suit after notification thereof as provided in Section 9.4.

 

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IX.4
Defense by Indemnifying Party. In connection with any claim giving rise to indemnity hereunder resulting from or arising
out of any claim or legal proceeding by a Person who is not a party to this Agreement, the Indemnifying Party at its sole cost
and expense may, upon written notice to the Indemnified Party, assume the defense of any such claim or legal proceeding (i) if
it acknowledges to the Indemnified Party in writing its obligations to indemnify the Indemnified Party with respect to all elements
of such claim (subject to any limitations on such liability contained in this Agreement) and (ii) if it provides assurances, reasonably
satisfactory to the Indemnified Party, that it will be financially able to satisfy such claims in full if the same are decided
adversely. If the Indemnifying Party assumes the defense of any such claim or legal proceeding, it may use counsel of its choice
to prosecute such defense, subject to the approval of such counsel by the Indemnified Party, which approval shall not be unreasonably
withheld or delayed. The Indemnified Party shall be entitled to participate in (but not control) the defense of any such action,
with its counsel and at its own expense; provided, however, that if the Indemnified Party, in its sole discretion, determines
that there exists a conflict of interest between the Indemnifying Party (or any constituent party thereof) and the Indemnified
Party, the Indemnified Party (or any constituent party thereof) shall have the right to engage separate counsel, the reasonable
costs and expenses of which shall be paid by the Indemnified Party. If the Indemnifying Party assumes the defense of any such
claim or legal proceeding, the Indemnifying Party shall take all steps necessary to pursue the resolution thereof in a prompt
and diligent manner. The Indemnifying Party shall be entitled to consent to a settlement of, or the stipulation of any judgment
arising from, any such claim or legal proceeding, with the consent of the Indemnified Party, which consent shall not be unreasonably
withheld or delayed; provided, however, that no such consent shall be required from the Indemnified Party if (i) the Indemnifying
Party pays or causes to be paid all Losses arising out of such settlement or judgment concurrently with the effectiveness thereof
(as well as all other Losses theretofore incurred by the Indemnified Party which then remain unpaid or unreimbursed), (ii) in
the case of a settlement, the settlement is conditioned upon a complete release by the claimant of the Indemnified Party and (iii)
such settlement or judgment does not require the encumbrance of any asset of the Indemnified Party or impose any restriction upon
its conduct of business.

 

ARTICLE
X

TERMINATION

 

X.1
Termination. This Agreement may be terminated, and the transactions contemplated hereby may be abandoned, at any time prior
to it being fully executed, or thereafter:

 

(a) by
mutual written agreement of a majority of the Shareholders and SSDT hereto duly authorized by action taken by or on behalf of
the respective Boards of Directors; or

 

(b) by
either SSDT or a majority of the Shareholders upon notification to the non-terminating party by the terminating party:

 

(i) if
the terminating party is not in material breach of its obligations under this Agreement and there has been a material breach of
any representation, warranty, covenant or agreement on the part of the non-terminating party set forth in this Agreement such
that the conditions will not be satisfied; provided, however, that if such breach is curable by the non-terminating party and
such cure is reasonably likely to be completed prior to the date specified in Section 10.1(b)(i), then, for so long as the non-terminating
party continues to use commercially reasonable efforts to effect and cure, the terminating party may not terminate pursuant to
this Section 10.1(b)(i); or

 

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(ii) 
if any court of competent jurisdiction or other competent Governmental or Regulatory Authority shall have issued an order making
illegal or otherwise permanently restricting, preventing or otherwise prohibiting the Share Exchange and such order shall have
become final.

 

(c) Effect
of Termination. If this Agreement is validly terminated by either SSDT or the Shareholder pursuant to Section 10.1, this Agreement
will forthwith become null and void and there will be no liability or obligation on the part of the parties hereto, except that
nothing contained herein shall relieve any party hereto from liability for willful breach of its representations, warranties,
covenants or agreements contained in this Agreement.

 

ARTICLE
XI

MISCELLANEOUS

 

XI.1
Parties Obligated and Benefited. This Agreement shall be binding upon the Parties and their respective successors by operation
of law and shall inure solely to the benefit of the Parties and their respective successors by operation of law, and no other
Person shall be entitled to any of the benefits conferred by this Agreement. Without the prior written consent of the other Party,
no Party may assign this Agreement or the Collateral Documents or any of its rights or interests or delegate any of its duties
under this Agreement or the Collateral Documents.

 

XI.2
Publicity. The initial press release, if any, shall be a joint press release and thereafter SSDT and the Shareholders each
shall consult with each other prior to issuing any press releases or otherwise making public announcements with respect to the
Share Exchange and the other transactions contemplated by this Agreement and prior to making any filings with any third party
and/or any Regulatory Authorities (including any national securities inter dealer quotation service) with respect thereto, except
as may be required by law or by obligations pursuant to any listing agreement with or rules of any national securities inter dealer
quotation service.

 

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XI.3
Notices. Any notices and other communications required or permitted hereunder shall be in writing and shall be effective
upon delivery by hand or upon receipt if sent by certified or registered mail (postage prepaid and return receipt requested) or
by a nationally recognized overnight courier service (appropriately marked for overnight delivery) or upon transmission if sent
by telex or facsimile (with request for immediate confirmation of receipt in a manner customary for communications of such respective
type and with physical delivery of the communication being made by one or the other means specified in this Section as promptly
as practicable thereafter). Notices shall be addressed as follows:

 

	If
to the Shareholders:

         

         
	Zhang
Lina, as representative of the Shareholders, as majority shareholder 

        c/o
Shengshi International Holdings Co., Ltd.  

        No.12,
Yingtai Road 

        Dalang
Street, Longhua District 

        ShenZhen,
China

	 	 
	If
    to SSDT:  	Xukai
Jin 

        c/o
Shengshi Elevator International Holding 

No.12, Yingtai Road 

        Dalang
Street, Longhua District 

        ShenZhen,
        China

	 	 
	If
    to Chen:  	Jun
Chen 

        c/o
Shengshi Elevator International Holding 

Zhongmingshidai Square #12, 

        Sungang
Road 

        Luohu
District 

        ShenZhen,
        China

 

 

XI.4
Address. Any Party may change the address to which notices are required to be sent by giving notice of such change in the
manner provided in this Section.

 

XI.5
Attorneys’ Fees. In the event of any action or suit based upon or arising out of any alleged breach by any Party
of any representation, warranty, covenant or agreement contained in this Agreement or the Collateral Documents, the prevailing
Party shall be entitled to recover reasonable attorneys’ fees and other costs of such action or suit from the other Party.

 

XI.6
Headings. The Article and Section headings of this Agreement are for convenience only and shall not constitute a part of
this Agreement or in any way affect the meaning or interpretation thereof.

 

XI.7
Choice of Law. This Agreement and the rights of the Parties under it shall be governed by and construed in all respects
in accordance with the laws of the State of Nevada, without giving effect to any choice of law provision or rule.

 

XI.8
Rights Cumulative. All rights and remedies of each of the Parties under this Agreement shall be cumulative, and the exercise
of one or more rights or remedies shall not preclude the exercise of any other right or remedy available under this Agreement
or applicable law.

 

XI.9
Further Actions. The Parties shall execute and deliver to each other, from time to time at or after Closing, for no additional
consideration and at no additional cost to the requesting party, such further assignments, certificates, instruments, records,
or other documents, assurances or things as may be reasonably necessary to give full effect to this Agreement and to allow each
party fully to enjoy and exercise the rights accorded and acquired by it under this Agreement.

 

    22

     

    

 

XI.10
Time of the Essence. Time is of the essence under this Agreement. If the last day permitted for the giving of any notice
or the performance of any act required or permitted under this Agreement falls on a day which is not a Business Day, the time
for the giving of such notice or the performance of such act shall be extended to the next succeeding Business Day.

 

XI.11
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

XI.12
Entire Agreement. This Agreement (including the Exhibits, disclosures made as to SSDT, the SHENGSHI executive summary and
any other documents, instruments and certificates referred to herein, which are incorporated in and constitute a part of this
Agreement) contains the entire agreement of the Parties.

 

XI.13
Survival of Representations and Covenants. Notwithstanding any right of the Shareholder to fully investigate the affairs
of SSDT and notwithstanding any knowledge of facts determined or determinable by the Shareholder pursuant to such investigation
or right of investigation, the Shareholder shall have the right to rely fully upon the representations, warranties, covenants
and agreements of SSDT contained in this Agreement. Each representation, warranty, covenant and agreement of SSDT contained herein
shall survive the execution and delivery of this Agreement and the Closing and shall thereafter terminate and expire on the first
anniversary of the Closing Date unless, prior to such date, the Shareholder has delivered to SSDT a written notice of a claim
with respect to such representation, warranty, covenant or agreement.

 

    23

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have duly executed this Agreement as of the day and year first above written.

 

Dated:
September 30, 2019

 

SHENGSHI
ELEVATOR INTERNATIONAL HOLDING GROUP INC. 

 

	By:	/s/ Xukai Jin 	 

Name:
Xukai Jin

Title:
Chief Executive Officer

 

JUN
CHEN

 

	/s/ Jun Chen 	 

 

SHENGSHI
INTERNATIONAL HOLDINGS CO., LTD.  

 

	By:	/s/ Xukai Jin 	 

Name:
Xukai Jin

Title:
Chief Executive Officer

 

SHAREHOLDERS

 

Shengshi
Qianyuan Co., Ltd.

 

	By:	/s/
Jiang Yanru	 

Name:
Jiang Yanru

Its:

 

Shengshi
Xinguang Co., Ltd

 

	By:	/s/
Zhang Baozhu	 

Name:
Zhang Baozhu

Its:

 

Shengshi
Jinhong Co., Ltd

 

	By:	/s/
Zhang Lina	 

Name:
Zhang Lina

Its:

 

    24

     

    

 

Shengshi
Huading Co., Ltd.

 

	By:	/s/
    Li Ying	

Name:
Li Ying

Its:

 

	/s/ Jin
Xukai	 

Jin
Xukai

 

	/s/
    Lin Yanyu	 

Lin
Yanyu

 

	/s/ Liu Bin	 

Liu
Bin

 

	/s/
    Li Zhonglin	 

Li
Zhonglin

 

    25

     

    

 

EXHIBIT
A

 

	Shareholder English  Name	 	Directors Name

(For Company)	 	Shares Volume in Cayman Island Company

(500M in Total)	 	 	Number of share to be received in this acquisition

(600M in Total)	 
	Shengshi Qianyuan Co., Ltd.	 	Jiang Yanru	 	 	18,500,000	 	 	 	22,200,000	 
	Shengshi Xinguang Co., Ltd	 	Zhang Baozhu	 	 	75,000,000	 	 	 	90,000,000	 
	Shengshi Jinhong Co., Ltd	 	Zhang Lina	 	 	191,350,000	 	 	 	229,620,000	 
	Shengshi Huading Co., Ltd.	 	Li Ying	 	 	100,000,000	 	 	 	120,000,000	 
	Jin Xukai	 	Jin Xukai	 	 	50,000,000	 	 	 	60,000,000	 
	Liu Yanyu	 	Liu Yanyu	 	 	21,000,000	 	 	 	25,200,000	 
	Liu Bin	 	Liu Bin	 	 	21,650,000	 	 	 	25,980,000	 
	Li Zhonglin	 	Li Zhonglin	 	 	22,500,000	 	 	 	27,000,000	 

 

 

26Exhibit 10.5

 

		 

 

Shenzhen

 

Labor

 

Contract

 

(for full-time
employment)

 

Name:

 

Prepared by Shenzhen Labor and Social Security
Bureau

 

    1 / 13

     

    

 

		 

 

	Party A (employer) Party	Party B (employee):
	 	 
	Name: Shenzhen Shengshi Elevator Co., Ltd. Name:	Gender:
	 	 
	Address: Dalang Street, Longhua New District,	ID Number:
	 	 
	Shenzhen,Yingtai Road No. 12	 
	 	 
	Contacts:	ID card address:
	 	 
	Contact number:	Contact number:

 

According to the “Labor
Law of the People’s Republic of China” (hereinafter referred to as “Labor Law”), “Labor Contract Law of the
People’s Republic of China” (hereinafter referred to as “Labor Contract Law”) and other relevant laws and regulations,
both parties shall follow the lawful, fair and equal voluntary The principle of consensus, honesty and credit, sign this contract
and abide by the terms listed in this contract.

 

First, the contract period

 

(1) Both Party A and
Party B agree to determine the term of this labor contract in the first way below.

 

1.  There is a fixed period: ______________________

 

2.  no fixed period:  ______________________

 

3.  The deadline for completing certain tasks: ______________________

 

(2) The probation period is 3 months(The
probationary period is included in the term of the labor contract. If the probation period needs to be extended, it shall be implemented
in accordance with relevant laws and regulations).

 

Second, the work content and work location

 

(1) Party B’s work contents (posts or
types of work)_____, Party B agrees and guarantees that the tasks shall be completed on time, according to quality and
quantity according to the duties (jobs) or job descriptions, job plans or task indicators determined by Party A.

 

Party B fully
understands and agrees: Party A has the right to adjust the work performed by Party B according to the business or work
needs, Party B’s physical condition, work ability and performance, the results of the assessment and Party A’s
work adjustment system. The main methods are: promotion or reduction of duties, scheduling to new departments or regional
work, participation in major projects, projects or major business activities, and on-the-job training. Party A informs Party
B in written notice, and Party B does not file a written objection. In order to recognize the change of work, increase or
decrease the position or change the position of the job, Party B’s salary and wages shall be implemented in accordance
with the provisions of the Labor Contract Law. Party B shall report to the change department within three days from the date
of receipt of Party A’s notice of change, otherwise it shall be processed as completed.

 

    2 / 13

     

    

 

		 

  

If there
is a major change in the objective situation such as market or business operation, Party A must adjust the business strategy, reset
the organizational structure and staffing, and when the job (post) is cancelled or the staffing is reduced, Party A and Party B
can negotiate to change the labor contract. Or cancel the “Labor Contract.”

 

(2) Working place of
Party B: Dalang Street, Longhua New District,Shenzhen,Yingtai Road No. 12

 

Party B
has in-depth understanding of the geographical distribution of Party A, its affiliates, affiliates and cooperative companies when
entering the company and signing this labor contract. Party B voluntarily accepts the changes made by Party A to Party B’s work
location according to the needs of the work, including but not limited to : The location of Shenzhen and Party A’s branches, affiliates
and partner companies.

 

Party B
agrees that Party A shall arrange for Party B to engage in temporary or temporary work or other job positions (locations) outside
the place of work agreed upon in the labor contract according to the needs of the work, but during the temporary adjustment period,
Party B’s position (job) The total salary is not lower than the original level, and the welfare standard is determined according
to the welfare standards of the company and department where the adjustment work is conducted.

 

Third, working hours and
rest days

 

Party
A shall implement standard working hours in accordance with Articles 36, 37 and 38 of the Labor Law of the People’s
Republic of China, ie 8 hours a day (no more than 8 hours) and 40 hours per week (no more than 40 hours) , at least one day
off every week. If Party A needs to extend working hours due to production and operation, it shall be implemented in
accordance with Article 41 of the Labor Law. Party B shall enjoy legal holidays, annual leave, marriage leave, maternity
leave, bereavement leave and other holidays. Party B’s other rest and vacation arrangements are implemented in
accordance with the Labor Law and related systems and regulations.

 

    3 / 13

     

    

 

		 

 

The
working time is the time required for Party B to complete the duties of the post (job). Party B shall complete the
tasks within the scope of duties within the specified time. Party A does not arrange for Party B to work overtime, but Party
B does not work for non-working hours in order to better perform its duties without being declared and approved to work
overtime. Party A is not considered to work overtime. Party A does not need to pay any overtime or allowance. (Supplement)
stickers, there is no need to give a compensatory time off. Party A shall arrange for Party B to work overtime, and may
arrange for a supplementary break. If the compensatory time limit cannot be arranged within the specified time, the overtime
pay will be calculated. The overtime pay shall be calculated according to the basic salary standard of Party B’s normal
working hours, and the proportion of the calculation shall be implemented in accordance with relevant state regulations. If
Party B pays in terms of performance (such as the commission award), Party A does not need to pay any overtime pay or arrange
for compensatory time off for Party B.

 

Party A
shall determine Party B’s working hour system according to the industry characteristics and job title (job position) of Party B’s
work. Party B belongs to:

 

☐ Management/Professional Technology/Marketing
Personnel:   ☐   Targeting the completion of job responsibility system;   ☐  Targeting the completion of design/engineering/marketing
tasks;   ☐   Ordinary employees

 

Fourth,
labor compensation

 

(1)  Both parties agree
to determine the labor remuneration of Party B by the “Employee Labor Remuneration Confirmation Form” confirmed and
signed by both parties.

 

(2)  Party A shall issue
the labor remuneration of Party B for the previous month on the 20th of each month.

 

(3)
Party B’s overtime pay, holiday pay and wages under special circumstances shall be implemented in accordance with
the relevant laws and regulations.

 

(4)
Other agreements between Party A and Party B on labor compensation shall be implemented in accordance with the relevant
compensation system of the company.

 

Fifth, Social insurance and welfare benefits

 

(1) Party A shall handle social
insurance procedures for Party B according to law, and the payment base of social insurance shall be implemented in accordance
with government regulations.

 

Party B
shall submit to Party A the documents and relevant materials necessary for the formal employment procedures prescribed by the government
labor management department.

 

    4 / 13

     

    

 

		 

 

If Party B fails to deliver the above
materials to Party A, Party A may not participate in social insurance for Party B. Party B shall bear all the liabilities caused
by this, and the late payment of social security payment and the relevant economic penalties of the government labor management
department shall be borne by Party B.If Party B does not have a Shenzhen account, it has purchased the new rural cooperative social
insurance in the rural area before entering the job, and Party B has applied in writing to Party A not to purchase social insurance,
and promised to bear all the liabilities arising therefrom. Party A may no longer be Party B. Purchase social insurance (except
for work-related injuries and medical insurance), except for those that are mandatory for purchase due to government or policy
reasons.

 

(2) If Party B is sick or not injured
by work, Party A shall give Party B the medical treatment and medical treatment according to the relevant provisions of the state,
the province and the city.

 

(3) If Party B suffers from occupational
diseases or injuries due to work, Party A shall comply with the relevant laws and regulations such as the Law of the People’s Republic
of China on the Prevention and Control of Occupational Diseases and the Regulations on Industrial Injury Insurance.

 

Sixth. Labor protection, working conditions and occupational
hazard protection

 

(1) Party A shall provide labor work
sites and necessary labor-related protective articles in accordance with national safety standards, in accordance with national,
provincial and municipal labor protection regulations, and effectively protect Party B’s safety and health in production.

 

(2) Party A shall do a good job in
the special labor protection of female employees in accordance with the relevant provisions of the state, the province and the
city.

 

(3)  Party B has the right to
refuse Party A’s illegal command and force the risky operation; Party B has the right to request correction or report to the relevant
department for Party A’s actions that endanger life safety and physical health.

 

Seventh, rules and regulations

 

(1) Party A shall inform Party B of
the rules and regulations formulated by Party A according to law.

 

(2)  Party B shall abide by the
relevant laws and regulations of the State, the province and the municipality, and the rules and regulations formulated by Party
A according to law, complete the tasks on time, improve vocational skills, and abide by safe operating procedures and professional ethics.

 

    5 / 13

     

    

 

		 

 

(3)  Party B shall keep the business secrets
of Party A. If Party B violates the “Non-Disclosure Agreement” attached to the labor contract, Party A shall have the
right to deal with it according to the agreement.

 

(4)  Party B consciously
abides by the relevant provisions of the state, provincial and municipal family planning.

 

Eighth, contract changes

 

Party
A and Party B may change the contract by consensus. The change contract should be in writing. Each party to the revised
contract text shall hold one copy.

 

Ninth. Dissolution and termination of the contract

 

(1) Both parties may agree to terminate the contract
by consensus.

 

(2)
Party B shall terminate the labor contract within three days before the trial period, and terminate the labor contract after
30 days in advance, and notify Party A in writing in writing of the “Resignation Application” 30 days after Party
A approves the “Resignation Application”. Can be removed from the formalities. If Party B leaves the post and
causes losses to Party A, Party A will pursue the responsibility through legal channels.

 

(3) If Party A has one of the
following circumstances, Party B may notify Party A to terminate the labor contract:

 

1.  Failure to provide
labor protection or working conditions in accordance with the labor contract;

 

2.  Failure to pay labor
remuneration in full and on time;

 

3.  Failure to pay social
insurance premiums to Party B according to law;

 

4.  Party A’s rules and
regulations violate the provisions of laws and regulations and damage Party B’s rights and interests;

 

5.  Party A uses the means
of fraud, coercion or arbitrage to cause Party B to enter into or change this contract in violation of the true meaning, resulting
in invalid labor contract;

 

6.  The law and administrative
regulations stipulate that Party B can terminate other circumstances of the labor contract.

 

(4) If Party A forces Party B to
labor by means of violence, threats or illegal restrictions on personal freedom, or Party A violates the rules and forces the
risky operation to endanger the personal safety of Party B, Party B may immediately terminate the labor contract without
prior notice to Party A.

 

    6 / 13

     

    

 

		 

 

(5) If Party B has one of the following
circumstances, Party A may terminate the labor contract, and the circumstances are serious, causing major economic losses or reputation
losses to the company. Party A reserves the right to demand compensation and resort to the law.

 

1.   It is proved that it does not meet the conditions
of employment during the trial period;

 

2.   Party B pulls out the
gang to make a living, seriously damages the company’s reputation and interests, and seriously violates Party A’s rules and regulations;

 

3. serious dereliction of duty, malpractice,
corruption and bribery, causing significant damage to Party A;

 

4.  If Party B establishes a
labor relationship with other employers at the same time and has serious influence on the completion of the work tasks of the unit,
or if it is submitted by Party A, it shall refuse to make corrections;

 

5.  Party B shall use the means
of fraud, coercion or arbitrage to cause Party A to enter into or change this contract in violation of the true meaning, resulting
in invalidation of the labor contract;

 

6.  If the criminal responsibility
is investigated according to law, or Party B fails to disclose to Party A the fact that there are hidden dangers such as formal
detention due to illegal acts, etc.;

 

7.  Party B provides false documents
or materials, or fabricates fraudulent acts such as untrue work experience;

 

8.  Reporting, missing reports,
unauthorized modification, and interception of company technical data and related materials, causing serious losses to the company.

 

(6) In any of the following circumstances,
the employer may terminate the labor contract after notifying the employee himself in writing or paying the employee one month’s
salary 30 days in advance:

 

1. If a worker is sick or not injured
by work, he or she cannot perform the original work after the prescribed medical period expires, nor can he engage in work that
is otherwise arranged by the employer;

 

    7 / 13

     

    

 

		 

 

2.  Laborers are not qualified
for work. After training or adjusting their jobs, they are still not qualified for work;

 

3.   The objective situation
on which the labor contract was based was significantly changed, resulting in the inability to perform the labor contract. After
the employer negotiated with the laborer, it was unable to reach an agreement on changing the content of the labor contract.

 

(7) In one of the following forms,
Party A needs to lay off more than 20 personnel or reduce less than 20 people but account for more than 50% of the total number
of employees of Party

 

A. Party A shall explain the situation
to all employees 30 days in advance. After listening to the opinions of the trade unions or employees, the plan for the reduction
of personnel can be reported to the labor administrative department, and the personnel can be reduced:

 

1.  Reorganization in accordance with the provisions
of the Enterprise Bankruptcy Law;

 

2.  Serious difficulties in production and operation;

 

3.  The enterprise has changed
its production, major technological innovations or adjustments to its business methods. After changing the labor contract, it is
still necessary to reduce the number of personnel;

 

4.  Other major changes in the
objective economic situation on which the labor contract was based were made, resulting in the inability to perform the labor contract.

 

(8) In any of the following circumstances, the labor
contract is terminated:

 

1.  The expiration of the labor contract;

 

2.  Party B begins to enjoy basic pension insurance
benefits according to law;

 

3.  Party B dies or is declared dead or declared
missing by the people’s court;

 

4.  Party A is declared bankrupt according to
law;

 

5.  Party A is revoked business
license, ordered to close, revoked or Party A decides to dissolve in advance;

 

6.  Other circumstances
as stipulated by laws and administrative regulations.

 

Tenth. Contract cancellation
and termination procedures

 

After the expiration
of this contract, if the service period for the special training agreement signed between Party B and Party A has not expired,
Party A and Party B shall negotiate the renewal of the labor contract 30 days in advance. If the agreement is reached, Party A
and Party B shall renew the labor contract. If Party B requests to terminate the labor contract or Party B automatically
resigns or resigns in violation of the service period, Party B shall pay Party A liquidated damages. The amount of liquidated damages
shall be the training expenses that Party B shall not share in the service period.

 

    8 / 13

     

    

 

		 

 

When Party B promises
to leave the company, it will complete the work handover procedures (including written documents, articles, documents, electronic
documents, owed (penalties), etc.), retired all the loans and Party A’s property, and signed the resignation and resignation form.
Party A agrees that the authenticity and integrity of the work shall be subject to permanent legal responsibility. Party B shall
have the right to refuse to issue the documents for the termination or termination of the labor contract and the transfer or withdrawal
of social insurance, and to settle the wages and economic compensation before the completion of the resignation formalities. (if
any) and other matters, and Party B’s procrastination behavior shall be investigated for the legal responsibility of Party B.

 

☐
Party B is a senior management, financial controller or an auditor. When leaving office, he/she should be subject to
resignation. Party B agrees and accepts Party A’s suspension of settlement of remuneration during the audit. 

 

Eleventh. Dispute Resolution

 

If a labor
dispute arises between Party A and Party B, it shall be settled through consultation. If the negotiation fails, it may seek
resolution from the unit trade union or apply to the labor dispute mediation committee of the unit for mediation; or directly
apply to the labor dispute arbitration committee for arbitration. If there is no objection to the arbitral award, both
parties must perform; if they are dissatisfied with the arbitral award, they may file a suit in the people’s court
where the unit is located.

 

Twelfth. Other matters that the
parties believe need to be agreed upon:

 

1.   In
the case of Party B paying normal labor, Party A shall pay Party B’s salary standard no less than the local minimum
wage. The specific salary standard shall be implemented in accordance with the relevant system of Party A’s salary
distribution according to the position and work of Party B;

 

2.  
Party B agrees that Party A shall cooperate with Party A to adjust its work and duties according to the operational
needs, and adjust Party B’s work location (including other countries, cities and regions) and posts in a
business trip or short-term manner. Party B agrees to travel from time to time or to the designated area ofParty A for
the performance of its duties.If necessary, Party B shall cooperate with Party A to make changes to the labor contract.

 

    9 / 13

     

    

 

		 

 

 

3. All
information collected and/or reported by Party B during the period of service of the Company for the purpose of completing
the assigned work or tasks and all inventions created are owned by the company, and employees shall not claim or exercise any
personal rights to such intellectual property rights. right. All other information, business information, trade secrets and
research and development achievements of the company belong to the company’s property. They may not be disclosed or
prejudiced in any form without the written permission of the company. The above-mentioned related information and materials,
research and development achievements and other company property shall not be taken away from the company, and it is not
allowed to be removed or not transferred to the company by illegal means.

 

4. Party B prohibits persuasion to leave the company.
After leaving the company, Party B shall not induce other employees of Party A to know the company’s trade secrets to
leave their posts. Otherwise, Party B shall compensate Party A for all losses suffered by Party A.

 

5.    Any notice sent by
Party A to the household registration address or residence address confirmed in the “Employee Registration Application Form”
is deemed to be delivered to the person and has legal effect, regardless of whether Party B receives it.If the information such
as the household registration address or residence address of Party B changes, Party B shall inform Party A in writing on the 3rd
day from the date of the change, otherwise Party B shall be responsible for all consequences.

 

6.    The terms and contents
of this contract shall be complied with in accordance with the rules and regulations formulated by Party A and disclosed to Party
B; Party A has the right to adjust and amend the rules and regulations from time to time according to the needs and to pass the
company announcement according to law. The column shall be posted and announced in the form of mail; Party B shall receive the
above revised version according to the notice of the personnel department and sign and confirm, and obtain the current version
of the rules and regulations; unless there is evidence to the contrary, Party B confirms that all current rules and regulations
of Party A are known and agrees. Obey, and must not be excused for ignorance.

 

    10 / 13

     

    

 

		 

 

7.   If
Party B terminates the labor contract in any case, it shall be responsible for the handover of the work. Party B shall hand over
the work in accordance with the procedures prescribed by Party A, and Party B shall immediately return to Party A all equipment,
work results and all that are kept or controlled by Party A. Relevant materials, records and memos, documents, keys and other belongings
belonging to Party A.If Party B fails to unilaterally terminate the labor contract and causes Party A to suffer losses, Party A
will pursue its responsibility according to law and will resort to the law if necessary. If Party B leaves the company without
going through the above procedures, Party A has the right to suspend payment to Party B. Wages and economic compensation (if any),
and have the right to require Party B to compensate for the actual losses or even resort to the law, and investigate Party B’s
civil and criminal responsibilities according to law.

 

8.   Party
B has learned and been aware of the company’s relevant institutional processes, the “Employee Handbook”, the confidentiality
agreement, and any other agreements between the company and its employees as parties to the agreement, as well as other supplementary
rules, regulations, notices, notices, meetings announced by Party A. Resolutions, etc.If there is a violation, it will be handled
in accordance with the relevant regulations. If the circumstances are serious, Party A has the right to terminate the labor relationship
with Party B, and there is no need to provide any supplement or compensation. Party A reserves the right to pursue Party B’s civil
tort liability or other criminal liability.

 

9.   Work report, work plan,
work summary as part of the performance appraisal. If the work report, work plan, work summary is incomplete or there are major
omissions, it is deemed that there is no effective work and the requirements specified by Party A are not met. Competent performance.

 

10.  Party
B agrees not to join the company’s competitors within 2 years after being employed by the company and after the
termination of the labor contract, and will not directly or indirectly be in any way (including but not limited to owners,
shareholders, partners, employees) , the identity of a director, supervisor, agent or consultant) engages in any business
that competes with the services provided by the company or its affiliates and the products produced or represented. According
to the applicable laws and regulations of China, Party B will receive the compensation given by the company in fulfilling its
responsibilities under the non-compete agreement, and the compensation will be paid monthly according to the two years after
the termination or termination of the employment contract; however, the company has the right to It is discretionary to
shorten or cancel the employee’s non-compete requirements, so that the above compensation is not required to be paid to
Party B when the employment relationship is lifted.

 

    11 / 13

     

    

 

		 

 

11.  
Party B is responsible for the personal information filled in the “Employee Registration Form” at the time of
employment and the authenticity and validity of the personal data provided to Party A’s personnel management department
in the future.Party B agrees that if there is any concealment or misrepresentation, Party A has the right to terminate the
labor contract without paying any financial compensation.

 

12.  
If Party B intentionally discloses company information, trade secrets, technical secrets or possession of duties, Party A has
the right to terminate the labor contract and does not have to pay any economic compensation to Party B. If Party B’s actions
cause losses to Party A, Party A has the right to Party B shall pursue civil liability and/or criminal liability and require Party
B to compensate for all losses.

 

13.  
Without the written approval of Party A’s personnel management department, Party B shall be absent from work for more
than one working day, Party A shall issue a written warning to Party B, Party B shall be absent for more than three working
days in a row or within one month, or the completion of the year shall be completed. For 6 days, Party B shall be deemed to
have seriously violated the company’s rules and regulations. Party A has the right to terminate the contract without
paying any compensation fees from Party B.

 

14.  
Party B agrees that the three aspects of work attitude, work ability and job performance are the necessary conditions for
job qualification. Any failure to meet the requirements set by Party A is an incompetent performance. If Party B is not
qualified for the job, Party A has the right to train or adjust the position. If Party B is still unable to perform the job,
or Party B refuses to reasonably adjust the position arranged by Party A, it is a serious violation of discipline. Party A
has the right to notify 30 days in advance. The labor contract will be terminated and no financial compensation will be
paid.

 

15.  
Party B voluntarily and solemnly promises: no matter whether it is on-the-job or resignation, guarantee that it will never use
any form or means to do anything that harms the interests of Party A (including subordinate enterprises), otherwise it will bear
corresponding legal liabilities and compensate for economic losses.

 

    12 / 13

     

    

 

		 

 

Thirteenth, other

 

(1) If the matters not covered in the contract or
the terms of the contract conflict with the provisions of the current laws and regulations, it shall be implemented in accordance
with the current laws and regulations.

 

(2) This contract shall become effective on the date of
signature and seal of both parties, and shall be invalidated or not authorized by the written authority.

 

(3) This contract is made in two copies, one for
each party.

 

(4) The annex to this contract includes: “Non-Disclosure
Agreement”, etc., which also has legal effects.

 

Party A: (seal) Party B: (Signature)

 

Legal representative: (main person in charge)

 

Date:

 

According to
Article 10 of the Labor Contract Law: a written labor contract shall be concluded when establishing a labor relationship.
Article 16 of the Labor Contract Law stipulates that: the labor contract shall be agreed upon by the employer and the
employee, and shall be signed or sealed by the employer and the employee on the text of the labor contract. The text of the
labor contract is held by the employer and the laborer.

 

After holding the labor contract text, the employee
signs:

 

Signing time:

 

 

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