SEC Contract Filing

Filing Date: 2017-01-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>f8k122716ex10iv_pacific.htm
<DESCRIPTION>FORM OF NON-COMPETITION AND NON-SOLICITATION AGREEMENT, BY AND AMONG THE SHAREHOLDER OF BORQS INTERNATIONAL HOLDING CORP PARTY THERETO, PACIFIC SPECIAL ACQUISITION CORP
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit 10.4</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
OF</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>NON-COMPETITION
AND NON-SOLICITATION AGREEMENT</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this &ldquo;<B><I>Agreement</I></B>&rdquo;) is being executed and delivered as
of [&#9679;], 2017 by [_______________________], an individual residing in [____________] (the &ldquo;<B><I>Subject Party</I></B>&rdquo;),
in favor of and for the benefit of <B>Pacific Special Acquisition Corp.</B>, a business company incorporated in the British Virgin
Islands with limited liability, which will be known after the consummation of the transactions contemplated by the Merger Agreement
(as defined below) as &ldquo;Borqs Technologies, Inc.&rdquo; (including any successor entity thereto, &ldquo;<B><I>Purchaser</I></B>&rdquo;),
<B>Borqs International Holding Corp.</B>, a company formed under the laws of the Cayman Islands with limited liability (together
with its successors, including the Surviving Company (as defined in the Merger Agreement), the &ldquo;<B><I>Company</I></B>&rdquo;),
and each of Purchaser&rsquo;s and/or the Company&rsquo;s respective present and future successors and direct and indirect Subsidiaries
(collectively with Purchaser and the Company, the &ldquo;<B><I>Covered Parties</I></B>&rdquo;). Any capitalized term used, but
not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
on December 27, 2016, Purchaser and the Company entered into that certain Merger Agreement (as amended from time to time in accordance
with the terms thereof, the &ldquo;<B><I>Merger Agreement</I></B>&rdquo;), by and among (i) Purchaser, (ii) PAAC Merger Subsidiary
Limited, a company formed under the laws of the Cayman Islands with limited liability and a wholly-owned subsidiary of Purchaser
(<I>&ldquo;<B>Merger Sub</B>&rdquo;</I>), (iii) Zhengqi International Holding Limited, in the capacity as the Purchaser Representative
thereunder (including any successor Purchaser Representative appointed in accordance therewith, the &ldquo;<B><I>Purchaser Representative</I></B>&rdquo;),
(iv) Zhengdong Zou, in the capacity as the Seller Representative thereunder, (v) the Company and (vi) for certain limited purposes
thereunder, Zhengqi International Holding Limited, a company incorporated in the British Virgin Islands, pursuant to which, subject
to the terms and conditions thereof, Merger Sub merged with an into the Company, with the Company continuing as the surviving
company, and with the Company&rsquo;s shareholders receiving equity shares of Purchaser;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the Company, directly and indirectly through its Subsidiaries (including the WFOE, the VIE Entities and their respective Subsidiaries),
provides software and solutions for connected devices in the Internet of Things industry, and mobile communication service as
a Mobile Virtual Network Operator (the &ldquo;<B><I>Business</I></B>&rdquo;);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
in connection with, and as a condition to the consummation of the transactions contemplated by the Merger Agreement (the &ldquo;<B><I>Transactions</I></B>&rdquo;),
and to enable Purchaser and the Company to secure more fully the benefits of the Transactions, including the protection and maintenance
of the goodwill and confidential information of the Company and its Subsidiaries, Purchaser has required that the Subject Party
enter into this Agreement;</FONT></P>

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