TERMINATION AGREEMENT
Exhibit 10.1
This TERMINATION AGREEMENT (this “Agreement”) is entered into on March 29, 2021 by and among:
Party A:
Beijing Asian League Wins Technology Co., Ltd
Registered Address: 1162, 1/F, 00 Xxxxxxx Xxxx, Xxxxxxxx Xxxxxxxx, Xxxxxxx, XXX;
Party B:
Hengshui Jingzhen Environmental Company Limited
Registered Address: North Side of Changning Road, Economic and Technological Development Zone, Hengshui City,
Hebei Province, PRC;
Party C:
Xxxxxx Xxx (Identity Card Number:
Beijing Xxxxxx Xxx Lian Zi Xun Co., Ltd. (Unified Social Credit Code: 91110105MA01RLQ67P).
WHEREAS:
| 1. | Party A and Party B entered into the exclusive technology development, consulting and services agreement on January 20, 2021; |
| 2. | Party A, Party B and Party C entered into the exclusive option agreement on January 20, 2021; |
| 3. | Party A, Party B and Party C entered into the equity pledge agreement on January 20, 2021; |
| 4. | Each of Party C executed the power of attorney to Party A on January 20, 2021; |
| 5. | Xxxxxx Xxx'x spouse executed a commitment letter to Party A on January 20, 2021. |
THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties agree as follows:
| 1. | Party A and Party B agree to terminate the exclusive technology development, consulting and services agreement entered into on January 20, 2021. From the effective date of this Agreement, the exclusive technology development, consulting and services agreement shall terminate and all the rights and obligations thereunder shall have no effect automatically. |
| 2. | Party A, Party B and Party C agree to terminate the exclusive option agreement entered into on January 20, 2021. From the effective date of this Agreement, the exclusive option agreement shall terminate and all the rights and obligations thereunder shall have no effect automatically. |
| 3. | Party A, Party B and Party C agree to terminate the equity pledge agreement entered into on January 20, 2021. From the effective date of this Agreement, the equity pledge agreement shall terminate and all the rights and obligations thereunder shall have no effect automatically. |
| 4. | Each of Party C hereby confirms that the power of attorney executed on January 20, 2021 shall be terminated concurrently with the termination of the exclusive option agreement entered into by Party A, Party B and Party C on January 20, 2021. |
| 5. | The commitment letter executed by Xxxxxx Xxx'x spouse on January 20, 2021 shall be terminated from the effective date of this Agreement. |
| 6. | This Agreement shall take effect upon the execution of this Agreement by the parties. |
| 7. | This Agreement is governed by laws of the PRC. |
| 8. | This Agreement shall be executed in four copies. Each party shall have one copy. |
[Signature Page]
Party A: Beijing Asian League Wins Technology Co., Ltd (Seal)
| By: | /s/ Xxxxxx Xxx |
| Name: | Xxxxxx Xxx |
| Title: | Legal Representative |
Party B: Hengshui Jingzhen Environmental Company Limited (Seal)
| By: | /s/ Xxxxxxx Xxxxx |
| Name: | Xxxxxxx Xxxxx |
| Title: | Legal Representative |
Party C:
| /s/ Xxxxxx Xxx | |
| Xxxxxx Xxx | |
Beijing Xxxxxx Xxx Lian Zi Xun Co., Ltd. (Seal)
| By: | /s/ Xxxxxx Xxx |
| Name: | Xxxxxx Xxx |
| Title: | Legal Representative |
SIGNATURE PAGE TO TERMINATION AGREEMENT
