REMARK HOLDINGS, INC. WARRANT TO PURCHASE COMMON STOCKWarrant Agreement • September 7th, 2021 • Remark Holdings, Inc. • Communications services, nec • Delaware
This Warrant is issued by the Company as of August 31, 2021 (the “Effective Date”) in connection with that certain Settlement Agreement and Mutual General Release, dated as of August 31, 2021 (the “Settlement Agreement”) by and among the Company, KanKan Limited, a company organized under the laws of the British Virgin Islands, the Holder and the Holder’s Joint Official Liquidators, pursuant to which the Company has agreed to issue and deliver this warrant to the Holder as partial consideration for the resolution of litigation between the parties. Except as otherwise specified herein, capitalized terms in this Warrant shall have the meanings set forth in the Second Amended and Restated Asset Purchase Agreement dated as of September 20, 2016 and entered between the Holder, Holder’s Management, Holder’s Joint Official Liquidators, the Target Entities (as defined therein), Kankan Limited and the Company (the “Purchase Agreement”).
SETTLEMENT AGREEMENT AND MUTUAL GENERAL RELEASESettlement Agreement • September 7th, 2021 • Remark Holdings, Inc. • Communications services, nec • Delaware
This SETTLEMENT AGREEMENT (this “Agreement”) is entered into as of August 31, 2021, by and among Remark Holdings, Inc., a Delaware corporation, and KanKan Limited, a British Virgin Island company (collectively, “Remark”), China Branding Group Limited (In Official Liquidation), an exempted Cayman Islands company (“CBG”), acting by and through its joint official liquidators with no personal liability, Hugh Dickson and David Bennett (collectively, the “JOLs”). Remark, CBG and the JOLs shall each be referred to herein as a “Party” and shall collectively be referred to herein as the “Parties.”
