Sale and Purchase Agreement (Smart Optic Detector)

Exhibit 10.15

Sale and Purchase Agreement

(Smart Optic Detector)

Contract No. (Buyer):

Contract No. (Seller):

Buyer: Beijing Zhixin Microelectronics Technology Co., Ltd.

Seller: Cloudminds (Shenzhen) Holdings Co., Ltd.

Date of signing: August 31, 2018

Place of signing: Beijing

Table of Contents

Part 1 Purchase Agreement	1

Part 2 General Terms	5

1. Contract Subject	5

2. Contract Price	5

3. Delivery	6

4. Packaging and Labeling	6

5. Inspection upon Arrival	7

6. Installation and Quality Assurance	7

7. Responsibility for Breach of Contract	8

8. Force Majeure	9

9. Applicable Law	10

10. Dispute Resolution	10

11. Contract Validity	10

12. Counterparts	10

13. Confidentiality	10

Part 3 Special Terms	11

Part 1 Purchase Agreement

Buyer: Beijing Zhixin Microelectronics Technology Co., Ltd.

Seller: Cloudminds (Shenzhen) Holdings Co., Ltd.

Whereas the Buyer intends to buy smart optic detectors and other equipment (hereinafter referred to as “contractual product”) from the Seller and the Seller agrees to supply to the Buyer the above-mentioned contractual products, the Buyer and the Seller hereby enter into this agreement for the purchase of contractual products.

I. Definition

All terms in this Agreement shall have the same meaning as those in general terms and special terms.

II. Components

The following documents shall form a part of this Agreement:

1. Minutes, agreements and other documents reached by both parties during the performance of this Agreement;

2. Purchase Agreement and its appendixes;

3. Notice of Award (Signing), if any;

4. Special terms and its appendixes;

5. General terms;

6. Invitation to bid and bid document, if any;

7. Other documents forming a part of this Agreement.

All components of this Agreement shall interpret each other. In case of discrepancy, they shall be interpreted in the sequence in which they are listed above.

Each document shall include the supplement and amendment to it developed by any party involved, and the latest version shall prevail in case of multiple versions. The Seller commits that is has fully satisfy the invitation to bid issued by the Buyer except those already clarified by the deviation list. In case of any discrepancy between the invitation to bid and the bid document, the Buyer shall have the right to choose to rely on the invitation to bid or the bid document.

Any document in relation to the Agreement formed in the process of the performance hereof shall constitute a component of the Agreement, and its priority of interpretation shall depend on its nature.

III. Contract Subject

As for the name, specification, model and quantity of contractual products agreed upon in the Contract by both parties, please refer to Appendix I: List of Priced Contractual Products.

IV. Contract Price and Payment

1. The contract price is (in words) RMB * YUAN ONLY (￥*)(including 16% VAT).

2. Payment of contract price

After the Contract takes effect, the Seller shall send the products to the location of the end user according to the notice of the Buyer; after products are inspected and accepted, the Seller shall issue a VAT invoice in full amount of the value of products within 30 days. After the Buyer receives the payment from the end user, it shall pay Party B the contract price at the same percentage of the end user’s payment via E-banking remittance within 30 days.

V. Delivery

Place of delivery: products shall be delivered to the end user at the place designated by the Buyer.

Time of delivery: products shall be delivered within one month after the signing of the Contract.

VI. Quality Assurance

The Seller commits to provide a warranty period of 12 months (inclusive) starting from the date of acceptance. Other agreements regarding quality assurance are provided in general terms.

VII. Commitment

1. The Seller commits to provide the Buyer with satisfactory contractual products and services as agreed in the Agreement.

2. Without the consent of the Buyer, the Seller shall not transfer it creditor’s right hereunder (contract price and other rights) to any third party, provide security for any third party or handle any factoring.

3. The Buyer shall pay the contract price to the Seller as agreed in the Agreement.

VIII Dispute Resolution

Any dispute between both parties shall be first settled via friendly negotiation; where such negotiation fails, the first following method shall apply:

(1) Arbitration: submit the case to Beijing Arbitration Commission. The arbitration shall be carried out in according with the arbitration rules in force at the time of application. The arbitration award is final and binding on both parties.

(2) Lawsuit: file a lawsuit with the people’s court where \ is located.

IX. Validity

This Agreement shall take effect on the date when the legal representatives (responsible persons) of both parties or their authorized agents affix their names and official seals or contract seals hereon. The date of signing shall be subject to the date when the last party affixes its name and official seal or contract seal hereon.

X. Counterparts

This Contract is made in three counterparts, with the Buyer holding two counterparts and the Seller holding one. All counterparts shall have the same legal effect.

(Intentionally left blank below)

Signature page

Buyer: Beijing Zhixin Microelectronics Technology Co., Ltd.		Seller: Cloudminds (Shenzhen) Holdings Co., Ltd.


By:	/s/ Shouhang Yuan	By:	/s/ ▇▇▇▇▇▇ ▇▇▇▇▇

Name: Shouhang Yuan		Name: ▇▇▇▇▇▇ ▇▇▇▇▇

Title: Authorized Signatory		Title: Authorized Signatory

Date: August 31, 2018		Date: August 31, 2018


Address: Building ▇▇. ▇, ▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ guancun, ▇▇. ▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇		Address: Cloudminds Technology, 33/F, Building ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇

Contact:		Contact:

Telephone:		Telephone:

Fax:		Fax:

Email:		Email:

Bank of deposit: *		Bank of deposit: *

Account No.: *		Account No.: *

Unified Social Credit Code: 91110108061292553X		Unified Social Credit Code: 91440300335227741U

Appendix 1: List of Priced Contractual Products

List of Priced Contractual Products

S.N.

Component
And Material
Item

Place Of
Origin

Manufacturer

Unit

Quantity

Equipment
Model

Price

Total

Remark (Item
Name)

Smart Optic Detector

Shenzhen

Shenzhen Cloudminds

Set

DT-ZDG01

Smart optic detector purchase project

Total

Part 2 General Terms

1. Contract Subject

1.1 Please refer to the List of Priced Contractual Products for the name, brand, specification, model and quantity of the products supplied by the Seller to the Buyer.

1.2 The Seller shall provide the Buyer with brand-new, technically-leading and reliable products, and shall guarantee that such products do not infringe upon the legal rights of any third party (including but not limited to intellectual property right). Please refer to the “Technical Specification” for detailed requirements.

1.3 The products supplied by the Seller shall comply with national or industrial technical standards. Where the technical standards of the manufacturer are superior to national or industrial technical standards, the technical standards of the manufacturer shall prevail.

1.4 The Seller shall provide technical data and services in relation to the installation and use of products.

1.5 The Seller shall guarantee that the contractual products it delivers to the Buyers according to the Agreement are free from any defect of right, any mortgage, pledge, lien or other security interest, the intellectual property right of any third party, or any affiliated interest or restricted interest of any kind, and are not sealed up, detained or frozen by any government or judicial organ. The Seller holds legal and complete title, intellectual property right and other rights to contractual products. By delivering contractual products, providing service and performing other obligations hereunder, the Seller will not violate its Articles of Association, or go beyond its business scope or mode, or violate any agreement or commitment entered into with any third party, or violate any order imposed on it by any governmental department, judicial organ or arbitration organ. The Seller shall protect the Buyer from any claim, allegation or request against the Buyer for the contractual product’s infringement on any intellectual property right, otherwise the Seller shall compensate the Buyer for any and all losses caused thereby (including but not limited to direct loss, indirect loss, attorney fee, litigation cost or arbitration cost, etc.).

2. Contract Price

The contract price refers to the total cost required by the Seller to transport the contracted products to the place of delivery agreed upon in the Agreement and fulfill other contractual obligations, including but not limited to the price and packaging fee of contractual products, insurance fee, various taxes, transportation and miscellaneous fees, unloading fees, technical data fees, installation and commissioning fees, training fees, technical service fees, etc.

The Buyer has the right to deduct from the contractual price payable to the Seller any liquidated damage, compensation or other expenses that the Seller should pay to the Buyer as agreed in the Agreement.

3. Delivery

3.1 The Seller shall deliver the products under this Agreement to the Buyer at the time, place and manner designated by the Buyer.

The Seller shall submit two sets of technical data (including but not limited to drawings required for installation and use of products and the certificate of conformity) to the Buyer accompanied by the products, otherwise it shall be deemed a delay of delivery.

3.2 The Seller shall be responsible for transportation of products and shall bear all the cost incurred thereby.

3.3 The actual date of delivery shall be the date when the contractual products conforming to the requirements herein (including spare parts) arrive at the place of delivery agreed upon in the Agreement.

3.4 The Seller shall bear all risks of damage and loss of products before products are handed over to the Buyer.

3.5 The shipment by the Seller shall follow the notice of shipment uniformly sent by the Buyer or the unit designated by the Buyer, otherwise such shipment will not be settled.

3.6 Within 3 working days after the Seller receives the notice of shipment sent by the unit designated by the Buyer, the Seller shall submit the shipment plan to such unit by email or in other written form. Where the Seller fails to submit the shipment plan to the Buyer on schedule, it shall pay the Buyer a liquidated damage at 0.05% of the contract price for each day of delay.

3.7 After products arrive at the place of delivery and are handed over to the Buyer, the Seller shall send the ▇▇▇▇ of acceptance to the unit designated by the Buyer within 3 working days, otherwise it shall pay the Buyer a liquidated damage at 0.05% of the contract price for each day of delay.

4. Packaging and Labeling

4.1 All contractual products delivered by the Seller shall conform to relevant regulations regarding the indicative signs for packaging and storage, be packaged in line with the latest rules of the competent national authority, and meet packaging requirements such as long-distance transportation, withstanding horizontal stress, vertical force, multiple handling, loading and unloading, moisture proof, shockproof and shatterproof. The Seller shall indicate the name and model of product on the package, and apply protective measures against impact, mildew, rust, corrosion, frost and burglary on contractual products in accordance with their features. Before contractual products are packaged, the Seller shall download, produce and attach identity code tags on them as required by the Buyer, maintain the identity code tags on a designated platform, check and clean different parts to remove all foreign objects and ensure all parts are in place.

4.2 It is strictly forbidden to use pines to package contractual products (including cartons, cable trays, skids and fixed brackets made of pines). If other wooden material is used for packaging, the Seller shall notify the Buyer before shipment and obtain the Plant Quarantine Certificate from local forest quarantine department. Such certificate shall, being an attachment, accompany the products to be delivered to the Buyer and act as one of the certificates for inspection and acceptance, otherwise the Buyer has the right to reject the products, in which case the Seller shall pay the Buyer a liquidated damage of no less than RMB 5,000 for each consignment.

5. Inspection upon Arrival

5.1 After the products arrive at the place of delivery, the Buyer shall inspect the package, appearance and quantity of products, and issue a ▇▇▇▇ of acceptance to the Seller after accepting the products. In case the products suffer any damage, defect, shortfall or noncompliance with the quality standards and regulations specified in the Agreement not for the reason of the Buyer, the Seller shall, upon the receipt of the notice from the Buyer, repair, replace or complement such parts as soon as possible at its own cost.

5.2 The inspection mentioned above shall be carried out on site. The Seller shall not be relieved of or exempted from any quality liability borne by it as specified in the Agreement even if no nonconformity was found in on-site inspection or the Seller has repaired, replaced or complemented the parts in question as required by the Buyer.

6. Installation and Quality Assurance

6.1 Products are installed by the Seller in accordance with the technical data, inspection standards, drawings and manuals provided by the Seller, while the Buyer shall offer cooperation.

6.2 During the process of installation, if products are checked, tested, re-tested, repaired or replaced for the reason of the Seller, any cost arising therefrom shall be borne by the Seller.

6.3 After the contractual products are installed, the Seller shall participate in the inspection and handle relevant procedure according to the notice of the Buyer, otherwise it shall be deemed that the Seller has accepted the inspection result. The Buyer’s acceptance of contractual products shall not relieve the Seller of its liability and obligation in relation to the contractual products during the warranty period.

6.4 The Seller commits to provide a warranty period of 24 months (inclusive) for the products supplied. Where national laws and regulations specify a longer warranty period, such laws and regulations shall apply. During the warranty period, if any defective equipment or part is repaired or replaced due to the Seller, which leads to the suspension of product transportation or affects the normal operation, the warranty period of products shall recommence from the time such defect is removed by the Seller, and all the losses incurred therefrom shall be borne by the Seller. If a defect is found on an equipment or part during the warranty period but the normal operation of products is not affected, the warranty period of such equipment or part, once being repaired or replaced, shall recommence. The Seller shall provide “three-guarantee” services for the products it provides before the expiry of the warranty period.

6.5 The Seller commits that the service life of products shall be no less than 10 years. Where any defect or malfunction is found on products due to the design, material or process of the Seller, the Seller shall repair or replace the defective equipment or part free of charge according to the requirements of the Buyer.

6.6 If any defect or malfunction is found on the contractual products provided by the Seller, which violates any provision in the Agreement, during the period from the date products are delivered to the place of delivery to the date the warranty period expires, the Buyer shall have the right to ask the Seller to take any one of the following remedies:

6.6.1 Repair nonconforming contractual products at the cost of the Seller to make them comply with the requirements herein. The repair shall be finished within 30 days (inclusive) unless otherwise agreed by the Buyer.

6.6.2 Replace nonconforming products with conforming ones at the cost of the Seller. The replacement shall be finished within 30 days (inclusive) unless otherwise agreed by the Buyer.

6.6.3 The Buyer returns the defective products to the Seller and the Seller transports the returned products out of the installation site. In this case, the Seller shall refund all contract price it has collected, and bear any additional cost of the Buyer on installation, uninstallation, transportation, insurance and purchase of alternative products incurred therefrom.

6. 7 The products provided by the Seller to the Buyer shall not infringe upon the right of any third party. The Seller shall protect the Buyer from any action or claim raised by any third party against the Buyer on the infringement upon its any patent, registered design, copyright, trademark, commodity name, other intellectual propriety right or industrial design right due to the Buyer’s use of such products or any part hereof. In case the Buyer suffers any such claim or action, the Seller shall defend the Buyer against and assume any and all losses and damages caused thereby, in which case the Buyer shall have the right to rescind the Agreement and the Seller shall pay a liquidated damage, as much as 10% of the total contract price, to the Buyer.

7. Responsibility for Breach of Contract

7.1 Where the Seller fails to perform or unsatisfactorily performs its obligations hereunder, the Buyer shall be entitled to request the Seller to bear default liabilities by continuing to perform this Agreement, compensating the Seller for all losses or paying the liquidated damage.

7.1.1 If the Seller delays the delivery against the Agreement, the Buyer shall be entitled to claim a liquidated damage from the Seller at 1‰ of the contract price for each day of delay.

7.1.2 If the Seller fails to perform its obligation of repair and replace in accordance with Article 6.6.1 and Article 6.6.2 hereof, the Buyer shall be entitled to claim a liquidated damage from the Seller at 1‰ of the contract price for each day of violation.

7.1.3 If the project of the Buyer fails to be launched on schedule due to the quality issue or late delivery of the Seller’s products, the Seller shall pay the Buyer a liquidated damage at 0.1% of the contract price for each day of delay.

7.1.4 If any contractual product cannot be used properly due to a defect in the Seller’s design, material or manufacturing during the warranty period, the Seller shall pay the Buyer a liquidated damage at 2% of the contract price for each occurrence.

7.1.5 The Buyer shall be entitled to rescind the Agreement and request the Seller to refund all or part of the payment the Buyer has already made in one of the following cases; the Buyer shall also be entitled to request the Seller to pay a liquidated damage at 20% of the contract price in full or in part in the 1st, 2nd and 4th following case:

(1) Products provided by the Seller cannot be used at all;

(2) The Buyer cannot supply any longer, as clearly expressed by the Seller, or as reasonably believed by the Buyer;

(3) The total amount of liquidated damaged paid by the Seller reach 20% of the total contract price;

(4) The Seller fails to rectify any of its violating acts within the given time after the notice of the Buyer.

Where the Agreement is terminated by the Buyer, the Buyer shall be entitled to buy the products similar to those under this Agreement in the conditions and ways it deems proper, with any extra expenses borne by the Seller.

7.1.6 Where the liquidated damage paid by the Seller as agreed herein is insufficient to cover the loss of the Buyer, the shortfall shall also be paid by the Seller to the Buyer.

7.2 Where the Buyer delays the payment of the contract price, it shall pay a liquidated damage for the delayed products, calculated based on the benchmark interest rate for loan of current period stipulated by the People’s Bank of China to the Seller.

8. Force Majeure

8.1 Force majeure events mentioned in this Contract refer to objective circumstances that are unforeseeable, unavoidable and insuperable, including but not limited to natural disasters, wars, armed conflicts, social turmoils, riots or other events defined as force majeure in accordance with this article.

8.2 Where the performance of either party’s contractual obligation hereunder is affected by a force majeure event, the performance of such contractual obligation may be postponed or exempted in full or in part in accordance with the influence degree and scope of such force majeure event. However, the affected party shall take very measure necessary to minimize the delay or other adverse impact of such force majeure event, and immediately notify the other party once such impact is eliminated. Neither party shall be allowed to ask for the adjustment of contract price by the reason of delay caused by force majeure.

8.3 The party affected by the force majeure event shall, within 2 weeks (inclusive) after the occurrence, obtain the proof of such force majeure event from the relevant authority, and send such proof to the other party for confirmation by fax or in other written form. Otherwise, the affected party shall have no right to ask for a relief or exemption of contractual obligation for the reason of force majeure.

8.4 If the impact of a force majeure event has already reached, or is expected to reach, 120 days (inclusive), either party shall have the right to terminate the Agreement. Any subsequent issue caused by this Agreement therefrom shall be settled via friendly negotiations of both parties.

9. Applicable Law

The conclusion, interpretation, performance and dispute resolution of this Agreement shall be governed by the laws of the People’s Republic of China.

10. Dispute Resolution

The method of dispute resolution is specified in the Purchase Agreement.

11. Contract Validity

The conditions for validity of this Agreement are specified in the Purchase Agreement.

12. Counterparts

The number of counterparts is agreed upon in the Purchase Agreement.

13. Confidentiality

Both parties and their respective employees and agents shall bear confidentiality liability for the client information, technical information, price, offer, discounts, market, product information and other information provided by the other party in any form, and shall not disclose such confidential information to any third party. The provisions specified in this part shall survive the termination of this Agreement.

(Intentionally left blank below)

Part 3 Special Terms

Special terms shall constitute amendments or supplements to the general terms upon the negotiations by both parties hereto. Where there is any discrepancy between special terms and general terms, the special terms shall prevail.

The “Technical Specification” in Article 1.2 of the general terms does not apply to this Contract.

1. The products provided by the Seller to the Buyer under this Contract and the raw materials, production process and service shall satisfy or try to satisfy national, local and industrial laws, regulations and requirements on environmental protection, and shall guarantee quality and protect the environment on the premise of production safety.

2. During the performance of this Contract, the Seller shall, in the process of production, activity or service, guarantee to save water, use electricity safely, give priority to pollution-free production process and equipment and abandon any production process or equipment that has been forbidden by the state or local government; pollutants discharged (waste water, waste gas, solid waste, noise, etc.) shall comply with national or local emission standards and receive regular test.

3. During the storage and transportation of products, the Seller shall ensure that vehicle condition is fine, the waste gas and noise discharged by vehicles and waste water produced from car washing comply with national standards, and the transportation does not disturb residents.

4. When the Seller enters into the office or other site of the Buyer for the performance hereof, it shall strictly abide by the Buyer’s regulations and requirements on quality, environment, occupational health and safety.

Sale and Purchase Agreement

(Smart Optic Detector)

Contract No. (Buyer):

Contract No. (Seller):

Buyer: Beijing Zhixin Microelectronics Technology Co., Ltd.

Seller: Cloudminds (Shenzhen) Holdings Co., Ltd.

Date of signing: September 30, 2018

Place of signing: Beijing

Table of Contents

Part 1 Purchase Agreement	1

Part 2 General Terms	6

1. Contract Subject	6

2. Contract Price	6

3. Delivery	7

4. Packaging and Labeling	7

5. Inspection upon Arrival	8

6. Installation and Quality Assurance	8

7. Responsibility for Breach of Contract	9

8. Force Majeure	10

9. Applicable Law	11

10. Dispute Resolution	11

11. Contract Validity	11

12. Counterparts	11

13. Confidentiality	11

Part 3 Special Terms	12

Part 1 Purchase Agreement

Buyer: Beijing Zhixin Microelectronics Technology Co., Ltd.

Seller: Cloudminds (Shenzhen) Holdings Co., Ltd.

Whereas the Buyer intends to buy smart optic detectors (hereinafter referred to as “contractual product”) from the Seller and the Seller agrees to supply to the Buyer the above-mentioned contractual products, the Buyer and the Seller hereby enter into this agreement for the purchase of contractual products.

I. Definition

All terms in this Agreement shall have the same meaning as those in general terms and special terms.

II. Components

The following documents shall form a part of this Agreement:

1. Minutes, agreements and other documents reached by both parties during the performance of this Agreement;

2. Purchase Agreement and its appendixes;

3. Notice of Award (Signing), if any;

4. Special terms and its appendixes;

5. General terms;

6. Invitation to bid and bid document, if any;

7. Other documents forming a part of this Agreement.

All components of this Agreement shall interpret each other. In case of discrepancy, they shall be interpreted in the sequence in which they are listed above.

Any document in relation to the Agreement formed in the process of the performance hereof shall constitute a component of the Agreement, and its priority of interpretation shall depend on its nature.

III. Contract Subject

As for the name, specification, model and quantity of contractual products agreed upon in the Contract by both parties, please refer to Appendix I: List of Priced Contractual Products.

IV. Contract Price and Payment

1. The contract price is (in words) RMB * YUAN ONLY (￥*) (Including 16% VAT).

2. Payment of contract price

V. Delivery

Place of delivery: products shall be delivered to the end user at the place designated by the Buyer.

Time of delivery: products shall be delivered within one month after the signing of the Contract.

VI. Quality Assurance

The Seller commits to provide a warranty period of 12 months (inclusive) starting from the date of acceptance. Other agreements regarding quality assurance are provided in general terms.

VII. Commitment

1. The Seller commits to provide the Buyer with satisfactory contractual products and services as agreed in the Agreement.

3. The Buyer shall pay the contract price to the Seller as agreed in the Agreement.

VIII Dispute Resolution

Any dispute between both parties shall be first settled via friendly negotiation; where such negotiation fails, the first following method shall apply:

(2) Lawsuit: file a lawsuit with the people’s court where / is located.

IX. Validity

X. Counterparts

This Contract is made in four counterparts, with the Buyer holding two counterparts and the Seller holding two. All counterparts shall have the same legal effect.

(Intentionally left blank below)

Signature page

Buyer: Beijing Zhixin Microelectronics Technology Co., Ltd.		Seller: Cloudminds (Shenzhen) Holdings Co., Ltd.


By:	/s/ Shouhang Yuan	By:	/s/ ▇▇▇▇▇▇ ▇▇▇▇▇

Name: Shouhang Yuan		Name: ▇▇▇▇▇▇ ▇▇▇▇▇

Title: Authorized Signatory		Title: Authorized Signatory

Date: September 30, 2018		Date: September 30, 2018


Address: Building ▇▇. ▇, ▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ Zhongguancun, ▇▇. ▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇		Address: ▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇, ▇▇. ▇, ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, Qianhai Shenzhen-Hong Kong Cooperation Zone, Shenzhen City

Contact:		Contact:

Telephone:		Telephone:

Fax:		Fax:

Email:		Email:

Bank of deposit: *		Bank of deposit: *

Account No.: *		Account No.: *

Unified Social Credit Code: 91110108061292553X		Unified Social Credit Code: 91440300335227741U

Appendix 1: List of Priced Contractual Products

List of Priced Contractual Products

S.N.

Component
And Material
Item

Place Of
Origin

Manufacturer

Unit

Quantity

Equipment
Model

Price

Total

Remarks (Item
Name)

Smart Optic Detector

Shenzhen

Cloudminds

Set

DT-ZDG02

Total

Part 2 General Terms

1. Contract Subject

1.1 Please refer to the List of Priced Contractual Products for the name, brand, specification, model and quantity of the products supplied by the Seller to the Buyer.

1.4 The Seller shall provide technical data and services in relation to the installation and use of products.

2. Contract Price

3. Delivery

3.1 The Seller shall deliver the products under this Agreement to the Buyer at the time, place and manner designated by the Buyer.

3.2 The Seller shall be responsible for transportation of products and shall bear all the cost incurred thereby.

3.4 The Seller shall bear all risks of damage and loss of products before products are handed over to the Buyer.

3.5 The shipment by the Seller shall follow the notice of shipment uniformly sent by the Buyer or the unit designated by the Buyer, otherwise such shipment will not be settled.

4. Packaging and Labeling

5. Inspection upon Arrival

6. Installation and Quality Assurance

6.1 Products are installed by the Seller in accordance with the technical data, inspection standards, drawings and manuals provided by the Seller, while the Buyer shall offer cooperation.

6.2 During the process of installation, if products are checked, tested, re-tested, repaired or replaced for the reason of the Seller, any cost arising therefrom shall be borne by the Seller.

6.5 The Seller commits that the service life of products shall be no less than 1 year. Where any defect or malfunction is found on products due to the design, material or process of the Seller, the Seller shall repair or replace the defective equipment or part free of charge according to the requirements of the Buyer.

6.6.2 Replace nonconforming products with conforming ones at the cost of the Seller. The replacement shall be finished within 30 days (inclusive) unless otherwise agreed by the Buyer.

6.7 The products provided by the Seller to the Buyer shall not infringe upon the right of any third party. The Seller shall protect the Buyer from any action or claim raised by any third party against the Buyer on the infringement upon its any patent, registered design, copyright, trademark, commodity name, other intellectual propriety right or industrial design right due to the Buyer’s use of such products or any part hereof. In case the Buyer suffers any such claim or action, the Seller shall defend the Buyer against and assume any and all losses and damages caused thereby, in which case the Buyer shall have the right to rescind the Agreement and the Seller shall pay a liquidated damage, as much as 10% of the total contract price, to the Buyer.

7. Responsibility for Breach of Contract

7.1 Where the Seller fails to perform or unsatisfactorily performs its obligations hereunder, the Buyer shall be entitled to request the Seller to bear the responsibility for breach of contract by continuing to perform this Agreement, compensating the Seller for all losses or paying the liquidated damage.

7.1.1 If the Seller delays the delivery against the Agreement, the Buyer shall be entitled to claim a liquidated damage from the Seller at 1‰ of the contract price for each day of delay.

(1) Products provided by the Seller cannot be used at all;

(2) The Buyer cannot supply any longer, as clearly expressed by the Seller, or as reasonably believed by the Buyer;

(3) The total amount of liquidated damaged paid by the Seller reach 20% of the total contract price;

(4) The Seller fails to rectify any of its violating acts within the given time after the notice of the Buyer.

7.1.6 Where the liquidated damage paid by the Seller as agreed herein is insufficient to cover the loss of the Buyer, the shortfall shall also be paid by the Seller to the Buyer.

7. 2 Where the Buyer delays the payment of the contract price, it shall pay a liquidated damage for the delayed products, calculated based on the benchmark interest rate for loan of current period stipulated by the People’s Bank of China to the Seller.

8. Force Majeure

9. Applicable Law

The conclusion, interpretation, performance and dispute resolution of this Agreement shall be governed by the laws of the People’s Republic of China.

10. Dispute Resolution

The method of dispute resolution is specified in the Purchase Agreement.

11. Contract Validity

The conditions for validity of this Agreement are specified in the Purchase Agreement.

12. Counterparts

The number of counterparts is agreed upon in the Purchase Agreement.

13. Confidentiality

(Intentionally left blank below)

Part 3 Special Terms

The “Technical Specification” in Article 1.2 of the general terms does not apply to this Contract.

5. The list of purchased items under this Contract is shown as follows:

S.N.	Product Name	Product Description	Unit	Quantity	Place of Delivery
1	Smart Optic Detector	DT-ZDG02	Set	*	Designated by the Buyer
2
3
4
5
6

Supplemental Agreement

According to the Sale and Purchase Agreement entered into between our company (Cloudminds (Shenzhen) Holdings Co., Ltd., hereinafter referred to as Party B) and your company (Beijing Zhixin Microelectronics Technology Co., Ltd., hereinafter referred to as Party A) (hereinafter referred to as Sale and Purchase Agreement), your company has purchased * sets of smart optic detectors (* sets of model DT-ZDG01 and * sets of model DT-ZDG02) from our company, amounting to RMB *, including tax.

According to the Sale and Purchase Agreement, we need to delivery * sets of smart optic detectors. In addition to smart optic detector hardware, we still need to provide cloud artificial intelligence service of two years, encrypted network, cloud service as well as other contents and services in relation to AI application. Our company shall not bear any other delivery obligation than the service mentioned above after the contract price is paid.

Party A: Beijing Zhixin Microelectronics Technology Co., Ltd.


By:	/s/ Shouhang Yuan

Name: Shouhang Yuan

Title: Authorized Signatory

Date: October 8, 2018


Party B: Cloudminds (Shenzhen) Holdings Co., Ltd.


By:	/s/ ▇▇▇▇▇▇ ▇▇▇▇▇

Name: ▇▇▇▇▇▇ ▇▇▇▇▇

Title: Authorized Signatory

Date: October 8, 2018

Sale and Purchase Agreement (Smart Optic Detector)

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