Exhibit 4.67
Termination Agreement
This Termination Agreement is made in Beijing on August 31, 2022 by and among:
(1)Party A: Xxxx Xxxx；Xx Xxxxxxxx ;
(2)Party B: Xxx Xx You (Beijing) Information Technology Co., Ltd.
Address: #0-00 Xxxxxxxx Xx. 0 Xxxxxxx Xxxxx, Xxxxxxx Xxxxxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxx, Xxxxx ; and
(3)Party C: Beijing Chenhuan Technology Co., Ltd.
Address: #0-00 Xxxxxxxx Xx. 0 Xxxxxxx Xxxxx, Xxxxxxx Xxxxxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxx, Xxxxx
For the purpose of this Agreement, Party A, Party B and Party C shall hereinafter be referred to individually as a “Party” and collectively as the “Parties”.
WHEREAS:
1.Party A and Party B signed a Loan Agreement on March 30, 2021, according to which Party B provided Party A with a loan totaling RMB 1.5 million;
2.Party A and Party B signed an Equity Pledge Agreement on May 7, 2021, according to which Xxxx Xxxx pledged 51% of the equities held by Xxxx Xxxx in Party C to Party B and Xx Xxxxxxxx pledged 49% of the equities held by Xx Xxxxxxxx in Party C to Party B;
3.Party B and Party C signed an Exclusive Technical Consulting and Service Agreement on May 7, 2021;
4.On May 7, 2021, the Parties signed an Exclusive Equity Option Agreement, a Voting Right Entrustment Agreement and a Business Management Agreement;
5.Due to the impact of market conditions and poor business management, Party C is now insolvent. All parties have decided to liquidate Party C.
(The above agreements are collectively referred to as “Existing Control Documents”).
NOW, THEREFORE, based on the principle of equality and mutual benefit, the Parties, through friendly negotiation, agree as follows (this “Agreement”):
1.Termination of the Existing Control Documents
(1)Party A and Party B hereby irrevocably agree and confirm that the Loan Agreement and the Equity Pledge Agreement shall be terminated as of the signing date of this Agreement and shall no longer be valid.
All parties hereby confirm and agree that with respect to the loan of RMB 1.5 million (the “Loan”) provided by Party B to Party A under the Loan Agreement, Party A is released from its obligation to repay the Loan. As of the signing date of this Agreement, Party B agrees not to assert any claims against Party A related to the Loan, and Party A shall have no further obligation to repay the Loan to Party B.
(2)Party B and Party C hereby irrevocably agree and confirm that the Exclusive Technology License and Service Agreement shall be terminated as of the signing date of this Agreement and shall no longer be valid.
(3)The Parties hereby irrevocably agree and confirm that the Exclusive Technical Consulting and Service Agreement and the Voting Right Entrustment Agreement and the Business Management Agreement shall be terminated as of the signing date of this Agreement and shall no longer be valid.
(4)From the signing date of this Agreement, each Party shall no longer have the rights under the Existing Control Documents and does not need to perform the obligations thereunder.
(5)Each Party hereby irrevocably and unconditionally releases the other Parties from any kind or nature of disputes, claims, demands, rights, obligations, responsibilities, actions, contracts or prosecution reasons that such Party has or may have against other Parties in the past, present or future, which are directly or indirectly related to or arise from the Existing Control Documents.
2.This Agreement is made in four counterparts, with each Party holding one counterpart, and such four counterparts shall have the same legal force.
(The following remainder of this page is intentionally left blank and is a signature page)
(This page is the signature page of this Termination Agreement)
Xxxx Xxxx
Signature:/s/ Xxxx Xxxx
Xx Xxxxxxxx
Signature:/s/ He Xxxxxxxx
Xxx Xx You (Beijing) Information Technology Co., Ltd. (Seal)
Beijing Chenhuan Technology Co., Ltd. (Seal)
