CALL OPTION AGREEMENT AMONG
AMONG
XXXX XXXX
XXXXXXX XXXX
YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED
AND
JIANGXI YICHUNFENG BIOHEALTH LIMITED
MAY 20, 2019
This CALL OPTION AGREEMENT (this "AGREEMENT") is entered into in China as of May 20, 2019 by and among the following Parties:
| (1) | XXXX XXXX (“CL”) |
ADDRESS:
CITIZEN IDENTIFICATION NUMBER:
(2) XXXXXXX XXXX (“DH”)
ADDRESS:
CITIZEN IDENTIFICATION NUMBER:
(3) YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED (“YIBL”)
ADDRESS: NO. 000 XXXX XXXXXXXX, XXX XXXX KOK INTERNATIONAL HOTEL, 000 XXXXXXXX XXXXXX, XXXXXXX XXXXXXXX, XXXXXXX XXXX
UNIFIED SOCIAL CREDIT CODE:
(4) XXXXXXX XXXXXXXXXX BIOHEALTH LIMITED (“JYBL”)
REGISTERED ADDRESS: GOLDEN INDUSTRIAL PARK, NANFENG, FUZHOU, JIANGXI, 000000, XXXXX
UNIFIED SOCIAL CREDIT CODE:
(The above parties shall hereinafter be individually referred to as a "PARTY" and collectively, "PARTIES".)
WHEREAS
(1) CL and DH are the enrolled Shareholder of the JYBL, legally holding all of the equity of the JYBL as of the execution date of this Agreement.
(2) As of the date of this Agreement, CL and DH are the enrolled Shareholder of JYBL, legally holding all the equity in JYBL, of which CL holding 90% interest, DH holding 10%.
(3) The Shareholders intend to transfer to YIBL, and XXXX is willing to accept, all his respective equity interest in the JYBL, to the extent not violating laws of China.
(4) In order to conduct the above equity transfer, the Shareholders agree to grant YIBL an irrevocable call option for equity transfer (hereinafter the "CALL OPTION"), under which and to the extent permitted by laws of China, the Shareholder shall on demand of YIBL transfer the Option Equity (as defined below) to YIBL in accordance with the provisions contained herein.
(5) JYBL intends to transfer to YIBL all of its assets and liabilities to the extent not violating laws of China. In order to conduct the above asset transfer, XXXX agrees to grant YIBL an irrevocable call option for assets (hereinafter the"ASSET CALL OPTION"), under which and to the extent as permitted by laws of China, JYBL shall on demand of YIBL transfers the assets and liabilities to YIBL in accordance with the provisions contained herein.
THEREFORE, the Parties hereby have reached the following agreement upon mutual consultations:
ARTICLE 1 - DEFINITION
“RMB” shall mean the Renminbi, the lawful currency of China.
"LAWS OF CHINA" shall mean the then valid laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding regulatory documents of China.
"OPTION EQUITY" shall mean, in respect of each of the Shareholder, all of the equity interest held thereby in JYBL registered capital.
"JYBL REGISTERED CAPITAL" shall mean the registered capital of JYBL as of the execution date of this Agreement, i.e., RMB100,000,000, which shall include any expanded registered capital as the result of any capital increase within the term of this Agreement.
"TRANSFERRED EQUITY" shall mean the equity of JYBL which YIBL has the right to require the Shareholder to transfer to it or its designated entity or individual when YIBL exercises its Call Option (hereinafter the "EXERCISE OF OPTION") in accordance with Article 3.2 herein, the amount of which may be all or part of the Option Equity and the details of which shall be determined by YIBL at its sole discretion in accordance with the then valid Laws of China and from its commercial consideration.
"TRANSFER PRICE" shall mean all the consideration that YIBL or its designated entity or individual is required to pay to the Shareholder in order to obtain the Transferred Equity upon each Exercise of Option. In spite of any provision herein, in case of YIBL exercising the call option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible under the relevant laws in China, any additional consideration paid other than the RMB 1.00 which may be required under the laws of China to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately with no additional compensation to the owners. The Shareholder hereby acknowledges the purpose of such provisions and hereby agrees and authorizes the company to take any and all actions to effect such transaction and agrees irrevocably to execute any and all documents and instruments and authorize YIBL and its designated entity or individual to sign on his or his behalf and hereby gives the YIBL and its designated entity or individual a proxy to execute and deliver such documents and instruments to effect the purpose of this provision and hereby waives any defence or claim of causes of action to challenge or defeat this provision. If there exists any regulatory provision with respect to Transfer Price under the then Laws of China, YIBL or its designated entity or individual shall be entitled to determine the lowest price permitted by Laws of China as the Transfer Price.
"BUSINESS PERMITS" shall mean any approvals, permits, filings, registrations etc. which JYBL is required to have for legally and validly operating its advertisement designing, producing, agency, publishing and all such other businesses, including but not limited to the Business License of the Cooperate Legal Person, the Tax Registration Certificate, the Permit for Operating Biotechnology Businesses and such other relevant licenses and permits as required by the then Laws of China.
"JYBL ASSETS" shall mean all the tangible and intangible assets which such JYBL owns or has the right to use during the term of this Agreement, including but not limited to any immoveable and moveable assets, and such intellectual property rights as trademarks, copyrights, patents, proprietary know-how, domain names and software use rights.
"THE MANAGEMENT SERVICES AGREEMENT" shall mean the Management Services Agreement entered into among each party dated May 20, 2019.
"MATERIAL AGREEMENT" shall mean an agreement to which any JYBL is a party and which has a material impact on the businesses or assets of the JYBL, including but not limited to the Management Services Agreement among the JYBL and YIBL, and other agreements regarding the JYBL's business.
1.2 The references to any Laws of China herein shall be deemed
(1) to include the references to the amendments, changes, supplements and re-enactments of such law, irrespective of whether they take effect before or after the formation of this Agreement; and
(2) to include the references to other decisions, notices or regulations enacted in accordance therewith or effective as a result thereof.
1.3 Except as otherwise stated in the context herein, all references to an Article, clause, item or paragraph shall refer to the relevant part of this Agreement.
ARTICLE 2 - GRANT OF CALL OPTION
The Parties agree that the Shareholder exclusively grant YIBL hereby irrevocably and without any additional conditions with a Call Option, under which YIBL shall have the right to require the Shareholder to transfer the Option Equity to YIBL or its designated entity or individual in such method as set out herein and as permitted by Laws of China. XXXX also agrees to accept such Call Option.
In case of YIBL exercising the call option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible under the relevant laws in China, any additional consideration paid other than the RMB 1.00 which may be required under the laws of China to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately with no additional compensation to the JYBL and Shareholder. XXXX and Shareholder hereby acknowledge the purpose of such provisions and hereby agrees and authorizes the company to take any and all actions to effect such transaction and agrees irrevocably to execute any and all documents and instruments and authorize the company's relevant officers to sign on his or his behalf and hereby gives the company and any of its relevant officers a proxy to execute and deliver such documents and instruments to effect the purpose of this provision and hereby waives any defense or claim of causes of action to challenge or defeat this provision.
ARTICLE 3 - METHOD OF EXERCISE OF OPTION
3.1 To the extent permitted by Laws of China, YIBL shall have the sole discretion to determine the specific time, method and times of its Exercise of Option.
3.2 At each Exercise of Option by YIBL, the Shareholder shall transfer his respective equity in the JYBL to YIBL and/or other entity or individual designated by it respectively in accordance with the amount required in the Exercise Notice stipulated in Article 3.4. YIBL and other entity or individual designated by it shall pay the Transfer Price to the Shareholder who has transferred the Transferred Equity for the Transferred Equity accepted in each Exercise of Option. YIBL shall have the right to elect to pay the purchase price by settlement of certain credits held by it or its affiliates to the Shareholder.
3.3 In each Exercise of Option, YIBL may accept the Transferred Equity by itself or designate any third party to accept all or part of the Transferred Equity.
3.4 On deciding each Exercise of Option, YIBL shall issue to the Shareholder a notice for exercising the Call Option (hereinafter the "EXERCISE NOTICE", the form of which is set out as Appendix I hereto). The Shareholder shall, upon receipt of the Exercise Notice, forthwith transfer all the Transferred Equity in accordance with the Exercise Notice to YIBL and/or other entity or individual designated by YIBL in such method as described in Article 3.2 herein.
3.5 The Shareholder hereby undertakes and guarantees that once YIBL issues the Exercise Notice in respect to the specific Transferred Equity of the JYBL held by it:
(1) it shall immediately hold or request to hold a Shareholder' meeting of the JYBL and adopt a resolution through the Shareholder' meeting, and take all other necessary actions to agree to the transfer of all the Call Option to YIBL and/or other entity or individual designated by it at the Transfer Price and waive the possible pre-emption;
(2) it shall immediately enter into an equity transfer agreement with CET and/or other entity or individual designated by it for transfer of all the Transferred Equity to YIBL and/or other entity or individual designated by it at the Transfer Price; and
(3) it shall provide YIBL with necessary support (including providing and executing all the relevant legal documents, processing all the procedures for government approvals and registrations and bearing all the relevant obligations) in accordance with the requirements of YIBL and of the laws and regulations, in order that YIBL and/or other entity or individual designated by it may take all the Transferred Equity free from any legal defect.
3.6 At the meantime of this Agreement, the Shareholder shall respectively enter into a power of attorney (hereinafter the "POWER OF ATTORNEY", the form of which is set out as Appendix II hereto), authorizing in writing any person designated by XXXX to, on behalf of such Shareholder, to enter into any and all of the legal documents in accordance with this Agreement so as to ensure that YIBL and/or other entity or individual designated by it take all the Transferred Equity free from any legal defect. Such Power of Attorney shall be delivered for custody by XXXX and YIBL may, at any time if necessary, require the Shareholder to enter into multiple copies of the Power of Attorney respectively and deliver the same to the relevant government department.
ARTICLE 4 - ASSET CALL OPTION
JYBL and the Shareholder hereby further undertake to grant YIBL irrevocably an option to purchase assets within the term of this Agreement: to the extent not violating the mandatory requirements under Laws of China, JYBL will transfer all of its assets and liabilities to YIBL and/or other entity or individual designated by it when required by YIBL.
In case of the YIBL exercising the Asset Call Option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible under the relevant laws in China, any additional consideration paid other than the RMB 1.00 which may be required under the laws of China to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately with no additional compensation to the JYBL and Shareholder. JYBL and Shareholder hereby acknowledge the purpose of such provisions and hereby agree and authorize the company to take any and all actions to effect such transaction and agrees irrevocably to execute any and all documents and instruments and authorize the company's relevant officers to sign on his or his behalf and hereby gives the company and any of its relevant officers a proxy to execute and deliver such documents and instruments to effect the purpose of this provision and hereby waives any defense or claim of causes of action to challenge or defeat this provision.
ARTICLE 5 - REPRESENTATIONS AND WARRANTIES
5.1 Shareholder hereby represents and warrants in respect to itself and the JYBL in which she holds equity as follows:
5.1.1 The Shareholder is a Chinese citizen with full capacity, with full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may act independently as a litigant party.
The Shareholder has full power and authorization to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction referred to herein, and it has the full power and authorization to complete the transaction referred to herein.
5.1.2 This Agreement is executed and delivered by Shareholder legally and properly. This Agreement constitutes the legal and binding obligations on Shareholder and is enforceable on it in accordance with its terms and conditions. The Shareholder are the enrolled legal owner of the Option Equity as of the effective date of this Agreement, and except the rights created by this Agreement, the Shareholder' Voting Rights Proxy Agreement entered into by Shareholder, YIBL and JYBL dated May 20, 2019 (the "PROXY AGREEMENT"), the Equity Pledge Agreement entered into by Shareholder, YIBL, the JYBL dated May 20, 2019 (the "EQUITY PLEDGE AGREEMENT"), there is no lien, pledge, claim and other encumbrances and third party rights on the Option Equity. In accordance with this Agreement, YIBL and/or other entity or individual designated by it may, after the Exercise of Option, obtain the proper title to the Transferred Equity free from any lien, pledge, claim and other encumbrances and third party rights.
5.1.3 JYBL shall obtain complete Business Permits as necessary for its operations upon this Agreement taking effect, and JYBL shall have sufficient rights and qualifications to operate within China the businesses of producing and selling of biotechnology products and other business relating to its current business structure. JYBL has conducted its business legally since its establishment and has not incurred any cases which violate or may violate the regulations and requirements set forth by the departments of commerce and industry, tax, culture, news, quality technology supervision, labor and social security and other governmental departments or any disputes in respect of breach of contract.
5.2 JYBL hereby represents and warrants as follows:
5.2.1 JYBL is a limited liability company operation duly registered and validly existing under Laws of China, with independent status as a legal person; JYBL has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may act independently as a subject of actions.
5.2.2 JYBL has full power and authorization to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction referred to herein, and it has the full power and authorization to complete the transaction referred to herein.
5.2.3 This Agreement is executed and delivered by JYBL legally and properly. This Agreement constitutes legal and binding obligations on it.
5.2.4 The Shareholder is the enrolled legal shareholder of the Option Equity when this Agreement comes into effect, except the rights created by this Agreement, the Proxy Agreement, the Equity Pledge Agreement, there is no lien, pledge, claim and other encumbrances and third party rights on the Option Equity. In accordance with this Agreement, YIBL and/or other entity or individual designated by it may, upon the Exercise of Option, obtain the proper title to the Transferred Equity free from any lien, pledge, claim and other encumbrances and third party rights.
5.2.5 JYBL shall obtain complete Business Permits as necessary for its Operations upon this Agreement taking effect, and JYBL shall have sufficient rights and qualifications to operate within China the businesses of health and care and other business relating to its current business structure. JYBL has conducted its business legally since its establishment and has not incurred any cases which violate or may violate the regulations and requirements set forth by the departments of commerce and industry, tax, culture, news, quality technology supervision, labor and social security and other governmental departments or any disputes in respect of breach of contract.
5.3 YIBL hereby represents and warrants as follows:
5.3.1 YIBL is a company with limited liability properly registered and legally existing under Laws of China, with an independent status as a legal person. YIBL has full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently as a subject of actions.
5.3.2 YIBL has full power and authorization to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction referred to herein, and it has the full power and authorization to complete the transaction referred to herein.
ARTICLE 6 - UNDERTAKINGS BY THE SHAREHOLDER
6.1 The Shareholder hereby undertakes within the term of this Agreement that it must take all necessary measures to ensure that JYBL is able to obtain all the Business Permits necessary for its business in a timely manner and all the Business Permits remain in effect at any time.
6.2 The Shareholder hereby undertakes within the term of this Agreement that without the prior written consent by XXXX,
6.2.1 no Shareholder shall transfer or otherwise dispose of any Option Equity or create any encumbrance or other third party rights on any Option Equity;
6.2.2 it shall not increase or decrease the JYBL Registered Capital or cast affirmative vote regarding the aforesaid increase or decrease in registered capital;
6.2.3 it shall not dispose of or cause the management to dispose of any of the JYBL Assets (except as occurs during the arm’s length operations);
6.2.4 it shall not terminate or cause the management of JYBL to terminate any Material Agreements entered into by JYBL, or enter into any other Material Agreements in conflict with the existing Material Agreements;
6.2.5 it shall not cause JYBL to conduct any transactions that may substantively affect the asset, liability, business operation, equity structure, equity of a third party and other legal rights (except those occurring during the arm's length operations or daily operation, or having been disclosed to and approved by XXXX in writing);
6.2.6 it shall not appoint or cancel or replace any executive directors or members of board of directors (if any), supervisors or any other management personnel of JYBL to be appointed or dismissed by the Shareholder;
6.2.7 it shall not announce the distribution of or in practice release any distributable profit, dividend or share profit or cast affirmative votes regarding the aforesaid distribution or release;
6.2.8 it shall ensure that JYBL shall validly exist and prevent it from being terminated, liquidated or dissolved;
6.2.9 it shall not amend the Articles of Association of JYBL or cast affirmative votes regarding such amendment;
6.2.10 it shall ensure that JYBL shall not lend or borrow any money, or provide guarantee or engage in security activities in any other forms, or bear any substantial obligations other than on the arm's length basis; and
6.3 The Shareholder hereby undertakes that it must make all its efforts during the term of this Agreement to develop the business of JYBL, and ensure that the operations of JYBL are legal and in compliance with the regulations and that it shall not engage in any actions or omissions which might harm the JYBL Assets or its credit standing or affect the validity of the Business Permits of JYBL.
6.4 Without limiting the generality of Article 6.3 above, considering the fact that the Shareholder of JYBL sets aside all the equity interest held thereby in JYBL as security to secure the performance by JYBL of the obligations under the Management Services Agreement, the performance of such Shareholder of the obligations under the Proxy Agreement, the Shareholder undertakes to, within the term of this Agreement, make full and due performance of any and all of the obligations on the part thereof under the Proxy Agreement, and to procure the full and due performance of JYBL of any and all of its obligations under the Management Services Agreement and warrants that no adverse impact on exercising the rights under this Agreement by YIBL will be incurred due to the breach by the Shareholder of the Proxy Agreement or the breach of the JYBL of the Management Services Agreement.
6.5 YIBL undertakes that, before its Exercise of Option and acquire all equity of JYBL, JYBL shall not do the following:
6.5.1 Sell, transfer, mortgage or dispose by other way any assets, business, revenue or other legal rights of JYBL, or permit creating any encumbrance or other third party's interest on such assets, business, revenue
or other legal rights (except as occurs during the arm's length or operations or daily operation, or as is disclosed to YIBL and approved by YIBL in writing);
6.5.2 conduct any transactions that may substantively affect the asset, liability, business operation, equity structure, equity of a third party and other legal rights (except those occurring during the arm's length operations or daily operation, or having been disclosed to YIBL and approved by XXXX in writing);
6.5.3 release any dividend or share profit to the Shareholder or cause the JYBL to do so in any form.
ARTICLE 7 - CONFIDENTIALITY
7.1 Notwithstanding the termination of this Agreement, the Shareholder shall be obligated to keep in confidence the following information (hereinafter collectively the "CONFIDENTIAL 1NFORMATION"): (i) information on the execution, performance and the contents of this Agreement; (ii) the commercial secret, proprietary information and customer information in relation to YIBL known to or received by it as the result of execution and performance of this Agreement; and (iii) the commercial secrets, proprietary information and customer information in relation to JYBL known to or received by it as the shareholder of JYBL.
The Shareholder may use such Confidential Information only for the purpose of performing its obligations under this Agreement. The Shareholder shall not disclose the above Confidential Information to any third parties without the written consent from YIBL, or they shall bear the default liability and indemnify the losses.
7.2 Upon termination of this Agreement, the Shareholder shall, upon demand by XXXX, return, destroy or otherwise dispose of all the documents, materials or software containing the Confidential Information and suspend using such Confidential Information.
7.3 Notwithstanding any other provisions herein, the validity of this Article shall not be affected by the suspension or termination of this Agreement.
ARTICLE 8 - TERM OF AGREEMENT
This Agreement shall take effect as of the date of formal execution by the Parties. This Agreement shall terminate when all the Option Equity of JYBL held by the Shareholder is legally transferred under the name of YIBL and/or other entity or individual designated by it in accordance with the provisions of this Agreement.
ARTICLE 9 - NOTICE
9.1 Any notice, request, demand and other correspondences made as required by or in accordance with this Agreement shall be made in writing and delivered to the relevant Party.
9.2 The abovementioned notice or other correspondences shall be deemed to have been delivered when it is transmitted if transmitted by facsimile or telex; it shall be deemed to have been delivered when it is delivered if delivered in person; it shall be deemed to have been delivered five (5) days after posting the same if posted by mail.
ARTICLE 10 - LIABILITY FOR BREACH OF CONTRACT
10.1 The Parties agree and confirm that, if any party (hereinafter the "DEFAULTING PARTY") breaches substantially any of the provisions herein or omits substantially to perform any of the obligations hereunder, or fails substantially to perform any of the obligations under this Agreement, such a breach or omission shall constitute a default under this Agreement (hereinafter a "DEFAULT"), then non-defaulting Party shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period. If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10) days of non-defaulting Party's notifying the Defaulting Party in writing and requiring it to rectify the Default, then non-defaulting Party shall have the right at its own discretion to select any of the following remedial measures:
| (1) | to terminate this Agreement and require the Defaulting Party to indemnify it for all the damage; or |
(2) mandatory performance of the obligations of the Defaulting Party hereunder and require the Defaulting Party to indemnify it for all the damage.
10.2 Without limiting the generality of Article 10.1, any breach of the Proxy Agreement, the Equity Pledge Agreement shall be deemed as having constituted the breach by such Shareholder of this Agreement; and any breach by JYBL of any provision in the Management Services Agreement, if attributable to the failure of the Shareholder to perform the obligations thereof under Article 6.4 hereof, shall be deemed as having constituted the breach by such Shareholder of this Agreement.
10.3 The Parties agree and confirm that in no circumstances shall the Shareholder request the termination of this Agreement for any reason, except otherwise stipulated by law or this Agreement.
10.4 Notwithstanding any other provisions herein, the validity of this Article shall stand disregarding the suspension or termination of this Agreement.
ARTICLE 11 - MISCELLANEOUS
11.1 This Agreement shall be prepared in English language.
11.2 The formation, validity, execution, amendment, interpretation and termination of this Agreement shall be subject to Laws of China.
11.3 Any disputes arising from and in connection with this Agreement shall be settled through consultations among the Parties involved, and if the Parties involved fail to reach an agreement regarding such a dispute within thirty (30) days of its occurrence, such dispute shall be submitted to China Regional Centre for Arbitration for arbitration in China accordance with the arbitration rules of such commission, and the arbitration award shall be final and binding on all the Parties involved.
11.4 Any rights, powers and remedies empowered to any Party by any provisions herein shall not preclude any other rights, powers and remedies enjoyed by such Party in accordance with laws and other provisions under this Agreement, and the exercise of its rights, powers and remedies by a Party shall not preclude its exercise of its other rights, powers and remedies by such Party.
11.5 Any failure or delay by a Party in exercising any of its rights, powers and remedies hereunder or in accordance with laws (hereinafter the “PARTY’S RIGHTS”) shall not lead to a waiver of such rights, and the waiver of any single or partial exercise of the Party's Rights shall not preclude such Party from exercising such rights in any other way and exercising the remaining part of the Party's Rights.
11.6 The titles of the Articles contained herein shall be for reference only, and in no circumstances shall such titles be used in or affect the interpretation of the provisions hereof.
11.7 Each provision contained herein shall be severable and independent from each of other provisions, and if at any time any one or more articles herein become invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions herein shall not be affected as a result thereof.
11.8 Upon execution, this Agreement shall substitute any other legal documents previously executed by the Parties on the same subject.
11.9 Any amendments or supplements to this Agreement shall be made in writing and shall take effect only when properly signed by the Parties to this Agreement.
11.10 Without prior written consent by XXXX, the Shareholder shall not transfer to any third party any of its right and/or obligation under this Agreement, YIBL shall have the right to transfer to any third party designated by it any of its right and/or obligation under this Agreement after notice to the Shareholder.
11.11 This Agreement shall be binding on the legal successors of the Parties.
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IN WITNESS HEREOF, the Parties have caused this Call Option Agreement to be executed in China as of the date first herein above mentioned.
For and on behalf of
XXXX XXXX
| Signature by: | /s/Xxxx Xxxx | |
| Name: | Xxxx Xxxx | |
| Position: | Authorized Representative |
For and on behalf of
XXXXXXX XXXX
| Signature by: | /s/ Xxxxxxx Xxxx |
| Name: | Xxxxxxx Xxxx |
| Position: | Authorized Representative |
For and on behalf of
YICHUNFENG INTERNATIONAL BIOTEHNOLOGY (CHINA) LIMITED (Company chop)
| Signature by: | /s/XX XXXX |
| Name: | Xx Xxxx |
| Position: | Authorized Representative |
For and on behalf of
JIANGXI YICHUNFENG BIOHEALTH LIMITED (Company chop)
| Signed by: | /s/ Xxxx Xxxx and Xxxxxxx Xxxx |
| Name: | Xxxx Xxxx and Xxxxxxx Xxxx |
| Position: | Authorized Representative |
APPENDIX I:
FORMAT OF THE OPTION EXERCISE NOTICE
To: XXXX XXXX
As our company and you signed a Call Option Agreement as of May 20, 2019 (hereinafter the "OPTION AGREEMENT"), and reached an agreement that you shall transfer the equity you hold in JIANGXI YICHUNFENG BIOHEALTH LIMITED (hereinafter the "JYBL") to our company or any third parties designated by our company on demand of our company to the extent as permitted by Laws of China and regulations, Therefore, our company hereby gives this Notice to you as follows:
Our company hereby requires to exercise the Call Option under the Option Agreement and YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED, designated by our company shall accept the equity you hold accounting for 90% of in JIANGXI YICHUNFENG BIOHEALTH LIMITED Registered Capital (hereinafter the "PROPOSED ACCEPTED EQUITY"). You are required to forthwith transfer all the Proposed Accepted Equity to YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED upon receipt of this Notice in accordance with the agreed terms in the Option Agreement.
Best regards,
For and on behalf of
YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED (Company chop)
Authorized Representative:
Date: May 20, 2019
To: XXXXXXX XXXX
As our company and you signed a Call Option Agreement as of May 20, 2019 (hereinafter the "OPTION AGREEMENT"), and reached an agreement that you shall transfer the equity you hold in JIANGXI YICHUNFENG BIOHEALTH LIMITED (hereinafter the "JYBL") to our company or any third parties designated by our company on demand of our company to the extent as permitted by Laws of China and regulations, Therefore, our company hereby gives this Notice to you as follows:
Our company hereby requires to exercise the Call Option under the Option Agreement and YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED, designated by our company shall accept the equity you hold accounting for 10% of in JIANGXI YICHUNFENG BIOHEALTH LIMITED Registered Capital (hereinafter the "PROPOSED ACCEPTED EQUITY"). You are required to forthwith transfer all the Proposed Accepted Equity to YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED upon receipt of this Notice in accordance with the agreed terms in the Option Agreement.
Best regards,
For and on behalf of
YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED (Company chop)
Authorized Representative:
Date: May 20, 2019
APPENDIX II:
FORM OF THE POWER OF ATTORNEY
I, __________ , hereby irrevocably entrust [with his/her identity card number of____________], as the authorized representative of me, to sign the Equity Transfer Agreement and other relevant legal documents between me and YICHUNFENG INTERNATIONAL BIOTECHNOLOGY (CHINA) LIMITED regarding the Equity Transfer of JIANGXI YICHUNFENG BIOHEALTH LIMITED .
Signature:
Date: May 20, 2019
