<SEC-DOCUMENT>0001213900-22-068755.txt : 20221103
<SEC-HEADER>0001213900-22-068755.hdr.sgml : 20221103
<ACCEPTANCE-DATETIME>20221102180323
ACCESSION NUMBER:		0001213900-22-068755
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20221102
FILED AS OF DATE:		20221103
DATE AS OF CHANGE:		20221102

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ReTo Eco-Solutions, Inc.
		CENTRAL INDEX KEY:			0001687277
		STANDARD INDUSTRIAL CLASSIFICATION:	ABRASIVE ASBESTOS & MISC NONMETALLIC MINERAL PRODUCTS [3290]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38307
		FILM NUMBER:		221355503

	BUSINESS ADDRESS:	
		STREET 1:		C/O BEIJING REIT TECHNOLOGY CO. LTD.
		STREET 2:		24TH FL., BLDG. B, ANLI RD., CHAOYANG
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100001
		BUSINESS PHONE:		(86) 10-64827328

	MAIL ADDRESS:	
		STREET 1:		C/O BEIJING REIT TECHNOLOGY CO. LTD.
		STREET 2:		24TH FL., BLDG. B, ANLI RD., CHAOYANG
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100001
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k1122_retoeco.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD><TITLE></TITLE></HEAD>
 <BODY STYLE="margin:0;padding:0;border-width:0;text-justify-trim: punctuation; margin: 0; padding: 10pt;"><DIV STYLE="margin:0;padding:0;border-width:0;width:600px;margin: 0 auto;">
	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<DIV STYLE="border: none; border-bottom: double windowtext 6.0pt; padding: 0in 0in 4.0pt 0in; margin-left: 0in; margin-right: 0.0pt;"></DIV>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"> <FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Washington, D.C. 20549</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:6pt;">_____________________</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:3pt;margin-top:3pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">FORM&#x00a0;6-K</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:2pt;margin-top:2pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:6pt;">_____________________</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR&#x00a0;15d-16<BR></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">For the month of November&#x00a0;2022</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Commission file number:&#x00a0;001-38307</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:8pt;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:7pt;">_____________________________________________________________</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:16pt;">RETO </FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:16pt;">ECO-SOLUTIONS</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:16pt;">, INC.</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:2pt;text-align:center;margin-top:2pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:8pt;">_____________________________________________________</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:0pt;margin-top:0pt;"><FONT CLASS="CharOverride-6" STYLE="font-style:normal;font-weight:normal;">(Registrant&#x2019;s name)</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">c</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">/</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">o Beijing REIT Technology Development Co., Ltd.<BR>X-702, Tower A, 60 Anli Road, Chaoyang District, Beijing<BR>People&#x2019;s Republic of China 100101<BR></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:8pt;">_____________________________________________________</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:0pt;text-align:center;margin-top:0pt;"><FONT CLASS="CharOverride-7" STYLE="font-style:normal;font-weight:normal;">(Address of principal executive office)</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form&#x00a0;20<FONT CLASS="nobreak">-F</FONT> or Form&#x00a0;40<FONT CLASS="nobreak">-F</FONT>.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;text-align:center;margin-top:8pt;">Form&#x00a0;20<FONT CLASS="nobreak">-F</FONT>&#x00a0;<FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;">&#9746;</FONT>&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0; Form&#x00a0;40<FONT CLASS="nobreak">-F</FONT> <FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;">&#9744;</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Indicate by check mark if the registrant is submitting the Form&#x00a0;6<FONT CLASS="nobreak">-K</FONT> in paper as permitted by Regulation&#x00a0;S<FONT CLASS="nobreak">-T</FONT> Rule&#x00a0;101(b)(1):&#x00a0;<FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;">&#9744;</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Indicate by check mark if the registrant is submitting the Form&#x00a0;6<FONT CLASS="nobreak">-K</FONT> in paper as permitted by Regulation&#x00a0;S<FONT CLASS="nobreak">-T</FONT> Rule&#x00a0;101(b)(7):&#x00a0;<FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;">&#9744;</FONT></P>
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		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">&#x00a0;</P>


	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H6" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:justify;text-decoration:underline;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="CharOverride-8" STYLE="font-style:normal;font-weight:bold;text-decoration:underline;">Explanatory Note:</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Registrant is filing this Report on Form&#x00a0;6<FONT CLASS="nobreak">-K</FONT> to provide its proxy statement for its 2022 annual shareholder meeting.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">1</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">EXHIBIT INDEX</FONT></P>
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					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;vertical-align:top;width: 10.26%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="top">

						<P CLASS="TCH_left" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:0;widows:1;"><FONT CLASS="CharOverride-9" STYLE="font-style:normal;font-weight:bold;">Exhibit&#x00a0;No.</FONT></P>
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					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;border-bottom-width:0pt;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 88.46%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="top">
						<P CLASS="TCH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0pt;"><FONT CLASS="CharOverride-9" STYLE="font-style:normal;font-weight:bold;">Description</FONT></P>
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						<P CLASS="Tbody_nowrap" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">99.1</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-top-width:0pt;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 88.46%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Tbody_nowrap" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><A HREF="f6k1122ex99-1_retoeco.htm"><FONT CLASS="Hyperlink" STYLE="text-decoration:underline;">Proxy Statement for 2022 Annual Shareholder Meeting.</FONT></A></P>
					</TD>
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		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">2</P>



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		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">SIGNATURE</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Pursuant to the requirements of the Securities Exchange&#x00a0;Act&#x00a0;of&#x00a0;1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>
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				<TR CLASS="No-Table-Style _idGenTableRowColumn-5" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;vertical-align:top;width: 57.06%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">

						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Date: November&#x00a0;2, 2022</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" COLSPAN="3" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 41.65%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">RETO ECO</FONT><FONT CLASS="nobreak"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">-SOLUTIONS</FONT></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">, INC.</FONT></P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-9" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-top:10pt;vertical-align:top;width: 57.06%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:top;width: 5.98%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:8pt;">By:</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:top;width: 34.39%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="top">
						<P CLASS="Signature_rule" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:0;widows:1;margin-top:8pt;"><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">s</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;"> Hengfang Li</FONT></P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-5" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;vertical-align:top;width: 57.06%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 5.98%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Name:</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-top-color:#000000;border-top-style:solid;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 34.39%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Hengfang Li</P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-5" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;vertical-align:top;width: 57.06%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 5.98%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Title:</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 34.39%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Chief Executive Officer</P>
					</TD>
				</TR>

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		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">3</P>



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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>f6k1122ex99-1_retoeco.htm
<DESCRIPTION>PROXY STATEMENT FOR 2022 ANNUAL SHAREHOLDER MEETING
<TEXT>
<HTML>
<HEAD><TITLE></TITLE></HEAD>
<BODY STYLE="margin:0;padding:0;border-width:0;text-justify-trim: punctuation; margin: 0; padding: 10pt;"><DIV STYLE="margin:0;padding:0;border-width:0;width:600px;margin: 0 auto;">
	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;text-align:right;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Exhibit 99.1</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">RETO </FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">ECO-SOLUTIONS</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">, INC.</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">c</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">/</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">o Beijing REIT Technology Development Co., Ltd.<BR>Building&#x00a0;X-702, Tower A, 60 Anli Road, Chaoyang District, Beijing <BR>People&#x2019;s Republic of China 100101</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">NOTICE OF<BR>ANNUAL MEETING OF SHAREHOLDERS OF 2022</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;text-align:right;margin-top:8pt;">November&#x00a0;2, 2022</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:0pt;text-align:right;margin-top:0pt;">Beijing, China</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">To the Shareholders of ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT>, Inc.:</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">It is my pleasure to invite you to the 2022 Annual Meeting of Shareholders (the &#x201c;Annual Meeting&#x201d;) of ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT>, Inc. (the &#x201c;Company&#x201d;) on December&#x00a0;7, 2022, at 9:00 A.M., Beijing Time (December&#x00a0;6, 2022, at 8:00 P.M., Eastern Time). The Annual Meeting will be held at the Company&#x2019;s principal executive offices at Building&#x00a0;X<FONT CLASS="nobreak">-702</FONT>, Tower A, 60 Anli Road, Chaoyang District, Beijing, People&#x2019;s Republic of China 100101.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The matters to be acted upon at the Annual Meeting are described below:</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(1)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>The election of Austin Huang and Lidong Liu as Class&#x00a0;A directors, each to serve a term expiring at the annual meeting of shareholders in 2023 or until their successors are duly elected and qualified; the election of Baoqing Sun and Tonglong Liu as Class&#x00a0;B directors, each to serve a term expiring at the annual meeting of shareholders in 2024 or until their successors are duly elected and qualified; and the election of Hengfang Li, Guangfeng Dai and Zhizhong Hu as Class&#x00a0;C directors, each to serve a term expiring at the annual meeting of shareholders in 2025 or until their successors are duly elected and qualified;</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(2)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>The ratification of the appointment of YCM CPA, Inc. as the Company&#x2019;s independent registered public accounting firm for the fiscal year ending December&#x00a0;31, 2022; and</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(3)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>The approval of the 2022 Share Incentive Plan; and</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(4)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>The transaction of any other business properly coming before the Annual Meeting.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Holders of record of the Company&#x2019;s common shares at the close of business on November&#x00a0;2, 2022 (the &#x201c;Record Date&#x201d;) will be entitled to notice of, and to vote at, the Annual Meeting and any adjournment or postponement thereof. Each common share entitles the holder thereof to one vote.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">YOUR VOTE IS VERY IMPORTANT.&#x00a0;WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING, WE URGE YOU TO VOTE AND SUBMIT YOUR PROXY ON THE INTERNET, EMAIL OR BY MAIL.&#x00a0;IF YOU ARE A REGISTERED SHAREHOLDER AND ATTEND THE ANNUAL MEETING, YOU MAY REVOKE YOUR PROXY AND VOTE YOUR SHARES IN PERSON.&#x00a0;IF YOU HOLD YOUR SHARES THROUGH A BANK OR BROKER AND WANT TO VOTE YOUR SHARES IN PERSON AT THE ANNUAL MEETING, PLEASE CONTACT YOUR BANK OR BROKER TO OBTAIN A LEGAL PROXY.&#x00a0;THANK YOU FOR YOUR SUPPORT.</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">This notice and the enclosed proxy statement are first being mailed to shareholders on or about November&#x00a0;2, 2022.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">You are urged to review carefully the information contained in the enclosed proxy statement prior to deciding how to vote your shares.</P>
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					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 50.00%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">By order of the Board,</P>
					</TD>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-top:10pt;vertical-align:top;width: 48.72%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:top;width: 50.00%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="top">
						<P CLASS="Signature_rule" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:0;widows:1;margin-top:8pt;">/s/ Hengfang Li</P>
					</TD>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;vertical-align:top;width: 48.72%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-top-color:#000000;border-top-style:solid;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 50.00%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Hengfang Li</P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-4" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;vertical-align:top;width: 48.72%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 50.00%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Chairman of the Board</P>
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		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">&#x00a0;</P>


	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">IMPORTANT NOTICE REGARDING INTERNET AVAILABILITY OF PROXY MATERIALS</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">This proxy statement and the Annual Report on Form&#x00a0;20<FONT CLASS="nobreak">-F</FONT> to shareholders are available at:&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">http://www.retoeco.com/companyfile/4/</FONT>.</P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">ABOUT THE 2022 ANNUAL MEETING OF SHAREHOLDERS</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What am&#x00a0;I voting on?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">You will be voting on the following:</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(1)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>The election of Austin Huang and Lidong Liu as Class&#x00a0;A directors, each to serve a term expiring at the annual meeting of shareholders in 2023 or until their successors are duly elected and qualified; the election of Baoqing Sun and Tonglong Liu as Class&#x00a0;B directors, each to serve a term expiring at the annual meeting of shareholders in 2024 or until their successors are duly elected and qualified; and the election of Hengfang Li, Guangfeng Dai and Zhizhong Hu as Class&#x00a0;C directors, each to serve a term expiring at the annual meeting of shareholders in 2025 or until their successors are duly elected and qualified;</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(2)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>The ratification of the appointment of YCM CPA, Inc. as the Company&#x2019;s independent registered public accounting firm for the fiscal year ending December&#x00a0;31, 2022;</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(3)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>The approval of the 2022 Share Incentive Plan; and</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(4)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>The transaction of any other business properly coming before the Annual Meeting.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Who is entitled to vote?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">You may vote if you owned common shares of the Company as of the close of business on November&#x00a0;2, 2022. Each common share is entitled to one vote. As of November&#x00a0;2, 2022, we had 43,108,112 common shares outstanding.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How do&#x00a0;I vote before the Annual Meeting?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If you are a registered shareholder, you have three voting options:</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(1)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>By Internet, which we encourage if you have Internet access, at the address shown on your proxy card;</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(2)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>By email, by emailing your signed proxy card to vote@vstocktransfer.com; or</P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;">(3)<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>By mail, by completing, signing and returning the enclosed proxy card.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If you hold your shares through an account with a bank or broker, your ability to vote by the Internet depends on their voting procedures. Please follow the directions that your bank or broker provides.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Please note that Internet and email voting will close at 10:59&#x00a0;a.m., Eastern Time, on December&#x00a0;6, 2022 or 11:59&#x00a0;p.m. Beijing Time on December&#x00a0;6, 2022.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">May&#x00a0;I vote at the Annual Meeting?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If you are a shareholder of record, you may vote in person at the Annual Meeting. If you hold your shares through an account with a bank or broker, please follow the directions provided to you by your bank or broker. If you wish to vote in person at the Annual Meeting, please contact your bank or broker to learn the procedures necessary to allow you to vote your shares in person. Even if you plan to attend the Annual Meeting, we encourage you to vote your shares by proxy. You may vote by proxy through the Internet, by email or by mail.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Can&#x00a0;I change my mind after&#x00a0;I return my proxy?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">You may change your vote at any time before the polls close at the conclusion of voting at the Annual Meeting. You may do this by (1)&#x00a0;signing another proxy card with a later date and returning it to us by mail before the Annual Meeting, (2)&#x00a0;voting again over the Internet prior to the time of the Annual Meeting, (3)&#x00a0;voting again by email prior to the time of the Annual Meeting, or (4)&#x00a0;voting at the Annual Meeting if you are a registered shareholder or have followed the necessary procedures required by your bank or broker.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">1</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What if&#x00a0;I return my proxy card but do not provide voting instructions?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;">Proxies that are signed and returned but do not contain instructions will be voted in favor of Proposals<FONT CLASS="nobreak"> </FONT>1,<FONT CLASS="nobreak"> </FONT>2, and<FONT CLASS="nobreak"> </FONT>3, in accordance with the best judgment of the named proxies on any other matters properly brought before the Annual Meeting.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:10pt;margin-top:10pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What does it mean if&#x00a0;I receive more than one proxy card or instruction form?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;">It indicates that your common shares are registered differently and are in more than one account. To ensure that all shares are voted, please either vote each account on the Internet, or sign and return all proxy cards. We encourage you to register all your accounts in the same name and address. Those holding shares through a bank or broker should contact their bank or broker and request consolidation.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:10pt;margin-top:10pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Will my shares be voted if&#x00a0;I do not provide my proxy or instruction form?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;">If you are a registered shareholder and do not provide a proxy, you must attend the Annual Meeting in order to vote your shares. If you hold shares through an account with a bank or broker, your shares may be voted even if you do not provide voting instructions on your instruction form. Brokerage firms have the authority to vote shares for which their customers do not provide voting instructions on certain routine matters. The ratification of the appointment of YCM CPA, Inc. as the Company&#x2019;s independent registered public accounting firm for the fiscal year ending December&#x00a0;31, 2022 is considered a routine matter for which brokerage firms may vote without specific instructions. However, election of directors and adoption of equity incentive plan are not considered routine matters for which brokerage firms may vote without specific instructions. When a proposal is not a routine matter and the brokerage firm has not received voting instructions from the beneficial owner of the shares with respect to that proposal, the brokerage firm cannot vote the shares on that proposal. Shares that a broker is not authorized to vote are counted as &#x201c;broker non<FONT CLASS="nobreak">-votes</FONT>.&#x201d;</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:10pt;margin-top:10pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How can&#x00a0;I attend the Annual Meeting?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;">The Annual Meeting is open to all holders of the Company&#x2019;s common shares as of November&#x00a0;2, 2022. In order to be admitted to the Annual Meeting, you must bring documentation showing that you are holders of the Company&#x2019;s common shares as of November<FONT CLASS="nobreak"> </FONT>2, 2022, the Record Date.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:10pt;margin-top:10pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">May shareholders ask questions at the Annual Meeting?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;">Yes. Representatives of the Company will answer questions of general interest at the end of the Annual Meeting.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:10pt;margin-top:10pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How many votes must be present to hold the Annual Meeting?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;">Your shares are counted as present at the Annual Meeting if you attend the Annual Meeting and vote in person or if you properly return a proxy by Internet, email, or mail. In order for us to conduct our meeting, not less than one<FONT CLASS="nobreak">-third</FONT> of the votes of our outstanding common shares as of November<FONT CLASS="nobreak"> </FONT>2, 2022 must be present in person or by proxy. This is referred to as a quorum. Abstentions and broker non<FONT CLASS="nobreak">-votes</FONT> will be counted for purposes of establishing a quorum at the Annual Meeting. If a quorum is not present or represented within two hours from the time appointed for the meeting, the meeting shall stand adjourned to the next business day at the same time and place or to such other time and place as the directors may determine, and if at the adjourned meeting there are present within one hour from the time appointed for the meeting in person or by proxy not less than one third (1/3) of the votes of the shares entitled to vote on the matters to be considered by the meeting, those present shall constitute a quorum.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:10pt;margin-top:10pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How many votes are needed to approve the Company&#x2019;s proposals?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Proposal 1.</FONT>&#x00a0;&#x00a0;&#x00a0;&#x00a0;The director nominees are elected and appointed by the affirmative vote of a majority in excess of 50 percent of the votes of the shares entitled to vote thereon which were present at the meeting and were voted in person or by proxy. This means that each of the director nominees will be elected if approved by the affirmative vote of a majority in excess of 50 percent of the votes of the shares entitled to vote thereon which were present at the meeting and were voted in person or proxy. The proxy given will be voted &#x201c;For&#x201d; each of the nominees for director unless a properly executed proxy card is marked &#x201c;Withhold&#x201d; as to a particular nominee or nominees for director.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Proposal 2.</FONT>&#x00a0;&#x00a0;&#x00a0;&#x00a0;The ratification of the appointment of YCM CPA, Inc. as the Company&#x2019;s independent registered public accounting firm for the fiscal year ending December<FONT CLASS="nobreak"> </FONT>31, 2022 requires that a majority in excess of 50 percent of the votes of the shares entitled to vote thereon which were present at the meeting and voted &#x201c;For&#x201d; the proposal. </P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:6pt;margin-top:6pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Proposal 3.</FONT>&#x00a0;&#x00a0;&#x00a0;&#x00a0;The approval of the 2022 Share Incentive Plan requires that a majority in excess of 50 percent of the votes of the shares entitled to vote thereon which were present at the meeting and voted &#x201c;For&#x201d; the proposal. </P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">2</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">PROPOSAL ONE<BR>ELECTION OF DIRECTORS<BR>(ITEM 1 ON THE PROXY CARD)</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our board of directors (the &#x201c;Board of Directors&#x201d; or the &#x201c;Board&#x201d;) currently consists of seven directors and is divided into three classes, Class&#x00a0;A, Class&#x00a0;B and Class&#x00a0;C, with only one class of directors being elected in each year and each class serving a three<FONT CLASS="nobreak">-year</FONT> term. At the annual meeting of shareholders held in 2021, the shareholders approved the re<FONT CLASS="nobreak">-election</FONT> of all the directors of the Company, regardless of whether the class of such directors was up for re<FONT CLASS="nobreak">-election</FONT>. As a result, each of Mr.&#x00a0;Hengfang Li, Mr.&#x00a0;Guangfeng Dai, Mr.&#x00a0;Zhizhong Hu, Dr.&#x00a0;Shuhua Ma, Dr.&#x00a0;Austin Huang, Dr.&#x00a0;Zhi Li, and Ms. Lidong Liu was reelected to serve as a director of the Company until the Annual Meeting. As a result of the resignation of each of Dr. Zhi Li and Dr. Shuhua Ma as the director and the appointment of each of Mr.<FONT CLASS="nobreak"> </FONT>Baoqing Sun and Mr.<FONT CLASS="nobreak"> </FONT>Tonglong Liu as the director, the existing directors of the Board consist of Mr.&#x00a0;Hengfang Li, Mr.&#x00a0;Guangfeng Dai, Mr.&#x00a0;Zhizhong Hu, Dr.&#x00a0;Austin Huang, Ms. Lidong Liu, Mr.<FONT CLASS="nobreak"> </FONT>Baoqing Sun and Mr.<FONT CLASS="nobreak"> </FONT>Tonglong Liu. At the Annual Meeting, the shareholders will vote on the reelection of the following director nominees:</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>Austin Huang and Lidong Liu as Class&#x00a0;A directors, each to serve a term expiring at the annual meeting of shareholders in 2023 or until their successors are duly elected and qualified;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>Baoqing Sun and Tonglong Liu as Class&#x00a0;B directors, each to serve a term expiring at the annual meeting of shareholders in 2024 or until their successors are duly elected and qualified; and</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>Hengfang Li, Guangfeng Dai and Zhizhong Hu as Class&#x00a0;C directors, each to serve a term expiring at the annual meeting of shareholders in 2025 or until their successors are duly elected and qualified.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">All shares duly voted will be voted for the election of directors as specified by the shareholders. No proxy may be voted for more people than the number of nominees listed below. Unless otherwise instructed, the proxy holders will vote the proxies received by them&#x00a0;<FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">FOR</FONT>&#x00a0;the election of each of the nominees named below, all of whom are presently directors. If any nominee is unable or declines to serve as a director at the time of the Annual Meeting, although we know of no reason to anticipate that this will occur, the proxies will be voted for any nominee designated by the present Board to fill the vacancy.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The following paragraphs set forth the biographical information regarding our director nominees.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Hengfang Li</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:0pt;margin-top:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Chairman of the Board</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:0pt;margin-top:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Director since April&#x00a0;2016</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Mr.&#x00a0;Li has served as the Chief Executive Officer and Chairman of the Company since April&#x00a0;2016. Mr.&#x00a0;Li founded Beijing REIT Technology Development Co., Ltd. (&#x201c;Beijing REIT&#x201d;) in 1999 and has served as Beijing REIT&#x2019;s Chief Executive Officer and Chairman since 1999. Mr.&#x00a0;Li served as the chief representative in China of the German Hess Group from 1995 until 1999. From 1988 through 1995, Mr.&#x00a0;Li was an engineer, senior engineer and then branch director at China North Vehicle Engine Research Center. Mr.&#x00a0;Li holds a Master degree in Engine Studies from Beijing Institute of Technology. Mr.&#x00a0;Li was nominated as a director because of his intimate knowledge of our business as a founder of the Company, his experience serving as an executive in the construction materials industry and has extensive knowledge, experience and relationships in China&#x2019;s construction materials industry.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Guangfeng Dai</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:0pt;margin-top:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Director</FONT> <FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">since November&#x00a0;2016</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Mr.&#x00a0;Dai became the President of the Company in 2020. Previously Mr.&#x00a0;Dai served as the Chief Operating Officer and of the Company and has served as a Director since November&#x00a0;2016. Mr.&#x00a0;Dai has served as Beijing REIT&#x2019;s Chief Operating Officer and Director since 2000. Mr.&#x00a0;Dai served as the deputy representative in China for Hess Mechanical Engineering Co., Ltd. of Germany from 1997 until 2000. From 1995 through 1997, Mr.&#x00a0;Dai was a senior engineer at Yanxing Corporation of China. From 1992 through 1994, Mr.&#x00a0;Dai was a senior engineer at China North Industries Group Corporation. Mr.&#x00a0;Dai received his Master degree in Automobile Engineering from Beijing Institute of Technology. Mr.&#x00a0;Dai was nominated as a director because of his operations and management experience and of his knowledge of our Company as a long<FONT CLASS="nobreak">-term</FONT> executive of Beijing REIT and a founder of the Company.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">3</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Zhizhong Hu</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:0pt;margin-top:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Director</FONT> <FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">since November&#x00a0;2016</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Mr.&#x00a0;Hu has served as the Chief Technology Officer and Director of the Company since November&#x00a0;2016. Mr.&#x00a0;Hu has served as Beijing REIT&#x2019;s Chief Technology Officer and Director since 2000. Mr.&#x00a0;Hu served as the general manager and executive director of Yichang Hayes Building Materials Co., Ltd. from 1997 through 2000. From 1996 through 1997, Mr.&#x00a0;Hu served as the business representative for Hayes Mechanical Engineering Co., Ltd. of Germany. Mr.&#x00a0;Hu received his Bachelor&#x2019;s Degree in Mechanical Engineering from Nanjing University of Science and Technology. Mr.&#x00a0;Hu was nominated as a director because of his experience in research and development and his intimate knowledge of our business as a founder of the Company.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Lidong Liu</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:0pt;margin-top:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Director</FONT> <FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">since June&#x00a0;2021</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Ms. Liu has served as the Chief Financial Officer since November&#x00a0;2015 for Jilin Yiyatong Deep Supply Chain Management Co., Ltd, a supply chain management company. From January&#x00a0;2011 to September&#x00a0;2015, she served as the Chief Financial Officer for Sinopharm Holding (Jilin) Co., Ltd, a pharmaceuticals company. In addition, between January&#x00a0;2002 and December&#x00a0;2010, Ms. Liu was the Chief Financial Officer for Changchun Yongxin Dirui Pharmaceutical Co., Ltd., a pharmaceuticals company. Ms. Liu is a member of China Certified Public Accountants and a seasoned executive with professional experience in auditing and financial reporting. Ms. Liu holds a bachelor&#x2019;s degree in Accounting from JiLin University of Finance and Economics, and an MBA from Changchun University of Science and Technology. She has strong working capabilities for company management and business development. Ms. Liu was nominated as a director because of her expertise in management and business development.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Austin Huang</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:0pt;margin-top:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Director</FONT> <FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">since November&#x00a0;2016</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Dr.&#x00a0;Huang has served as an independent director of the Company since November&#x00a0;2016. Dr.&#x00a0;Huang has served as the President and Principal Engineer for Merit Engineering, Inc., a geotechnical, environmental, and civil engineering services company, since 1993. Among other awards, Mr.&#x00a0;Huang has received the Diplomat of Geotechnical Engineering by the Academy of Geoprofessionals in 2011 and named a Fellow, ACCE (American Society of Civil engineering) in 2007. Dr.&#x00a0;Huang served as an expert witness on geo<FONT CLASS="nobreak">-retaining</FONT> wall design issues. In addition, he has presented two papers in the area of slope stability and pile foundations with socket in bedrock in international conferences. He holds 19 research publications including six in leading research journals. Dr.&#x00a0;Huang holds a Master&#x2019;s Degree and Ph.D. in Geotechnical Engineering from University of Wisconsin. Dr.&#x00a0;Huang was nominated as a director because of his experience in geotechnical engineering, including, slope stability, soil infiltration and retaining walls that are areas applicable to our sponge city projects.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Baoqing Sun</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:0pt;margin-top:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Director since November&#x00a0;2022</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Mr.&#x00a0;Sun has served as an independent director of the Company since November&#x00a0;2022. Before retiring in 2014, Mr.&#x00a0;Sun served as the Deputy Director of Gu&#x2019;an County Transportation Bureau from March&#x00a0;2003 to April&#x00a0;2014, where he was responsible for political and administration affairs, matters regarding transportation technology, transportation combat readiness, and highway stations. He was also responsible for construction and maintenance of national and provincial main lines and local highways. Prior to that, Mr.&#x00a0;Sun served as the Director of Economic Commission, Deputy Secretary of the Committee, Secretary of the Disciplinary Committee, and Deputy Mayor of Gu&#x2019;an Town, Gu&#x2019;an County, from March&#x00a0;2001 to March&#x00a0;2003, from June&#x00a0;2000 to March&#x00a0;2001, from December&#x00a0;1999 to June&#x00a0;2000, and from December&#x00a0;1999 to April&#x00a0;1995, respectively, where he was mainly handling town affairs such as town enterprises, taxation, or market development. From April&#x00a0;1995 to May&#x00a0;1996, he was the Deputy General Manager of Langfang Sanhe Food Co., Ltd.. Mr.&#x00a0;Sun served as the Clerk of Gu&#x2019;an County Labor and Personnel Bureau from June&#x00a0;1984 to April&#x00a0;1995 and worked in Gu&#x2019;an County Transportation Bureau Second Automobile Team Overhaul Workshop from July&#x00a0;1983 to June&#x00a0;1984. Mr.&#x00a0;Sun obtained a bachelor&#x2019;s degree in mechanical engineering automotive from Hebei Institute of Technology. Mr.&#x00a0;Sun was nominated as a director because of his experience in managing public construction and transportation projects and government relationship.</P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">4</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Tonglong Liu</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:0pt;margin-top:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Director since November&#x00a0;2022</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Mr.&#x00a0;Liu has served as an independent director of the Company since November&#x00a0;2022. Mr.&#x00a0;Liu has also served as the Chief Executive Officer and Chairman of Beike Huizhi Software Technology Co., Ltd., a private company, since June&#x00a0;2018. From December&#x00a0;2012 to June&#x00a0;2018, he served as the Vice President of Great China of Dassault Syst&#x00e8;mes S.A., a software solutions provider. Mr.&#x00a0;Liu was with PTC, Inc. (formerly Parametric Technology Corporation) (China), a computer software and services company, from March&#x00a0;1993 to November&#x00a0;2012, where he served as the Application Engineer from March&#x00a0;1993 to March&#x00a0;1995, Sale Representative from March&#x00a0;1995 to September&#x00a0;1996, District Manager of North China from September&#x00a0;1996 to September&#x00a0;1999, Reginal Director of North China from September&#x00a0;1999 to September&#x00a0;2002, Senior Regional Director of North China from September&#x00a0;2002 to September&#x00a0;2005, Area Vice President of China from September&#x00a0;2005 to September&#x00a0;2008, and Senior Vice President of China from September&#x00a0;2008 to September&#x00a0;2012. Prior to that, Mr.&#x00a0;Liu worked at Computer Application Research Institute, NORICO Group from February&#x00a0;1988 to February&#x00a0;1993 where, he served as Engineer from February&#x00a0;1988 to February&#x00a0;1990 and as the Deputy Director of Computer Aided Design software research division from February&#x00a0;1990 to February&#x00a0;1993. Mr.&#x00a0;Liu received his master&#x2019;s degree and bachelor&#x2019;s degree from the Department of Vehicle Engineering of Beijing Institute of Technology. Mr.&#x00a0;Liu was nominated as a director because of his experience in enterprise digital transformation including information management and product lifecycle management.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Involvement in Certain Legal Proceedings</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">To the best of our knowledge, none of our directors or officers has been convicted in a criminal proceeding, excluding traffic violations or similar misdemeanors, nor has any been a party to any judicial or administrative proceeding during the past five&#x00a0;years that resulted in a judgment, decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws, except for matters that were dismissed without sanction or settlement.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Board Leadership Structure and Risk Oversight</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Mr.&#x00a0;Hengfang Li serves as our Chief Executive Officer and Chairman of the Board of Directors. As a smaller public company, we believe it is in the Company&#x2019;s best interest to allow the Company to benefit from guidance from key members of management in a variety of capacities. We do not have a lead independent director and do not anticipate having a lead independent director because we will encourage our independent directors to freely voice their opinions on a relatively small company board. We believe this leadership structure is appropriate because we are a relatively small public company.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our Board of Directors plays a significant role in our risk oversight. The Board of Directors makes all relevant Company decisions. As such, it is important for us to have our Chief Executive Officer serve on the Board as he plays a key role in the risk oversight of the Company. As a smaller reporting company with a small board of directors, we believe it is appropriate to have the involvement and input of all of our directors in risk oversight matters.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Vote Required for Approval</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If a quorum is present, directors are elected by the affirmative vote of a majority in excess of 50 percent of the votes of the shares entitled to vote thereon which were present at the meeting. This means that each of the director nominees will be elected if approved by the affirmative vote of a majority in excess of 50 percent of the votes of the shares entitled to vote thereon which were present at the meeting. Votes marked &#x201c;FOR&#x201d; a nominee will be counted in favor of that nominee. Proxies will have full discretion to cast votes for other persons in the event any nominee is unable to serve. Failure to vote by proxy or to vote in person at the Annual Meeting and broker non<FONT CLASS="nobreak">-votes</FONT> will have no effect on the vote since a majority in excess of 50 percent of the votes of shares entitled to vote thereon which were present at the meeting and voted for the election of each nominee is the requirement.  </P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Recommendation of the Board</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;page-break-after:auto;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">THE BOARD RECOMMENDS THAT YOU VOTE FOR THE ELECTION<BR>OF EACH OF THE NOMINEES TO THE BOARD OF DIRECTORS.</FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">5</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">PROPOSAL TWO<BR>RATIFICATION OF THE APPOINTMENT OF YCM CPA, INC.<BR>(ITEM 2 ON THE PROXY CARD)</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What am&#x00a0;I voting on?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">A proposal to ratify the appointment of YCM CPA, Inc. as the Company&#x2019;s independent registered public accounting firm for the fiscal year ending December&#x00a0;31, 2022. The audit committee of the Board of Directors (the &#x201c;Audit Committee&#x201d;) has appointed YCM CPA, Inc. to serve as the Company&#x2019;s independent registered public accounting firm for the fiscal year ending December&#x00a0;31, 2022. Although the Company&#x2019;s governing documents do not require the submission of this matter to shareholders, the Board of Directors considers it desirable that the appointment of YCM CPA, Inc. be ratified by our shareholders.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Has the Company changed its independent registered public accounting firm during its two most recent fiscal&#x00a0;years?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Yes. On March&#x00a0;15, 2021, the Company dismissed its independent registered public accounting firm, Friedman LLP and appointed YCM CPA Inc. as its new independent registered public accounting firm.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What services does YCM CPA, Inc. provide?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Audit services provided by YCM CPA, Inc. for the fiscal year ending December&#x00a0;31, 2022 will include the examination of the consolidated financial statements of the Company and services related to periodic filings made with the SEC.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Will a representative of YCM CPA, Inc. be present at the Annual Meeting?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">We do not expect that any representatives of YCM CPA, Inc. will be present at the Annual Meeting.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What if this proposal is not approved?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If the appointment of YCM CPA, Inc. is not ratified, the Audit Committee will reconsider the appointment.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Vote Required for Approval</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If a quorum is present, the affirmative vote of a majority in excess of 50 percent of the shares entitled to vote that are present and voting in person or by proxy at the Annual Meeting is required to approve the appointment of YCM CPA, Inc. as the independent registered public accounting firm for the fiscal year ending December<FONT CLASS="nobreak"> </FONT>31, 2022. Failure to vote by proxy or to vote in person at the Annual Meeting will have no effect on the vote. </P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Recommendation of the Board</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">THE BOARD RECOMMENDS THAT YOU VOTE FOR THE RATIFICATION OF<BR>YCM CPA, INC.&#x00a0;AS THE COMPANY&#x2019;S INDEPENDENT<BR>REGISTERED PUBLIC ACCOUNTING FIRM</FONT> <FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">FOR THE FISCAL YEAR ENDING DECEMBER&#x00a0;31,&#x00a0;2022.</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">6</P>




	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">PROPOSAL THREE<BR>APPROVAL OF 2022 SHARE INCENTIVE PLAN<BR>(ITEM 3 ON THE PROXY CARD)</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What am&#x00a0;I voting on?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Board of Directors adopted the ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT>, Inc. 2022 Share Incentive Plan (the &#x201c;2022 Plan&#x201d;) on November&#x00a0;2, 2022, subject to approval by the shareholders of the Company. A copy of the 2022 Plan is attached to this proxy statement as Annex&#x00a0;A.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Board of Directors believes that the 2022 Plan will further the long<FONT CLASS="nobreak">-term</FONT> stability and financial success of the Company by attracting and retaining personnel, including employees, non<FONT CLASS="nobreak">-employee</FONT> directors, and consultants, through the use of stock incentives. It is believed that ownership of Company stock will stimulate the efforts of those employees upon whose judgment, interest, and efforts the Company is and will be largely dependent for the successful conduct of its business.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If the 2022 Plan is approved by our shareholders, then the 2022 Plan will become effective and awards made granted thereunder. If the 2022 Plan is not approved by our shareholders, it will not become effective and no awards will be granted thereunder.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Summary of the 2022 Plan</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The following is a summary of the material features of the 2022 Plan. This summary is qualified in its entirety by the full text of the 2022 Plan, a copy of which is included as Annex&#x00a0;A to this proxy statement.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How is the 2022 Plan administered?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The 2022 Plan is administered by the compensation committee of the Board of Directors (the &#x201c;Compensation Committee&#x201d;). The 2022 Plan provides the Compensation Committee with flexibility to design compensatory awards that are responsive to the Company&#x2019;s needs. Subject to the terms of the 2022 Plan, the Compensation Committee has the discretion to determine the terms of each award.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Who is eligible to receive awards?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Persons eligible to participate in the 2022 Plan will be officers, employees, non<FONT CLASS="nobreak">-employee</FONT> directors, and consultants of the Company and its subsidiaries as selected from time to time by the Compensation Committee in its discretion. As of the date of this proxy statement, approximately 39 individuals will be eligible to participate in the 2022 Plan, which includes approximately 5 officers, 28 employees who are not officers, 4 non<FONT CLASS="nobreak">-employee</FONT> directors, and 2 consultants.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What kind of awards may be granted?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Awards under the 2022 Plan may be in the form of incentive stock options, nonstatutory stock options or restricted stock awards.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">An option is the right to purchase common shares at a price and on a schedule set by the Compensation Committee. The option price will be no less than the fair market value of the shares on the option grant date.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How many shares are available for issuance under the 2022 Plan?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Subject to the adjustment provisions contained in the 2022 Plan, the maximum number of shares as to which awards may be granted under the 2022 Plan is 5,000,000<FONT CLASS="nobreak"> </FONT>shares. The fair market value of a common share of the Company as  of November<FONT CLASS="nobreak"> </FONT>1, 2022 was $0.64 as reported on the Nasdaq Stock Market.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The 2022 Plan provides for an automatic share reserve increase feature, whereby the share reserve will be increased automatically on the first&#x00a0;day of each fiscal year beginning with the 2023 fiscal year, in an amount equal to the lesser of (i)&#x00a0;a number equal to 5% of the aggregate number of Company common shares outstanding on the last&#x00a0;day of the immediately preceding fiscal year and (ii)&#x00a0;such smaller number of shares as is determined by the Compensation </P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">7</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Committee. The automatic share reserve feature and any provisions that are or would create a &#x201c;formula&#x201d; plan for purposes of Nasdaq listing requirements will operate only until the ten<FONT CLASS="nobreak">-year</FONT> anniversary of the earlier of the initial adoption of the 2022 Plan by the Board or the approval of the 2022 Plan by our shareholders, and therefore no automatic share reserve increase will be added after the increase on the first&#x00a0;day of our 2032 fiscal year.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Shares underlying any awards under the 2022 Plan that are forfeited, cancelled, held back upon exercise of an option or settlement of an award to cover the exercise price or tax withholding, satisfied without the issuance of stock or otherwise terminated (other than by exercise) will be added back to the shares available for issuance under the 2022 Plan.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Up to 5,000,000 common shares may be issued upon the exercise of incentive stock options under the 2022 Plan.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Are awards made under the 2022 Plan transferable?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Except as provided below, no award under the 2022 Plan may be transferred by a participant other than by will or the laws of descent and distribution, and options may be exercised during the participant&#x2019;s lifetime only by the participant. The Compensation Committee may expressly provide in a nonstatutory stock option award agreement that the participant may transfer the award to a spouse or lineal descendant, a trust for the exclusive benefit of such family members, a partnership or other entity in which all the beneficial owners are such family members, or any other entity affiliated with the participant that the Compensation Committee may approve. Notwithstanding the foregoing, any shares awarded (subject to any vesting requirements in a given grant) may be transferred in accordance with applicable law.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">When does the 2022 Plan terminate?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Board of Directors may terminate the 2022 Plan at any time. If not sooner terminated by the Board of Directors, the 2022 Plan will terminate on the tenth anniversary of its effective date. Any such termination will not affect outstanding awards.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How can the 2022 Plan be amended?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The 2022 Plan and any award may be amended by the Board of Directors, although no amendment may, without the consent of the participant, materially and adversely affect a participant&#x2019;s rights under an award previously granted to him.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Approval of the shareholders shall be required for any amendment where required by applicable law, as well as (i)&#x00a0;to increase the number of shares available for issuance under the 2022 Plan, (ii)&#x00a0;to change the persons or class of persons eligible to receive awards under the 2022 Plan, or (iii)&#x00a0;to materially increase the benefits accruing to participants under the 2022 Plan.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Board may condition any amendment on the approval of the shareholders if such approval is necessary or deemed advisable with respect to the applicable listing or other requirements of a national securities exchange or other applicable laws, policies or regulations.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What tax withholding obligations apply to awards under the 2022 Plan?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Participants in the 2022 Plan are responsible for the payment of any federal, state, or local taxes that the Company or its affiliate are required by law to withhold upon the exercise of options or vesting of a restricted stock award. The Compensation Committee may cause any tax withholding obligation of the Company or its affiliate to be satisfied, in whole or in part, by the applicable entity withholding from the common shares to be issued pursuant to an award a number of shares with an aggregate fair market value that would satisfy the withholding amount due. The Compensation Committee may also permit any tax withholding obligation of the Company or its affiliate to be satisfied, in whole or in part, by the participant&#x2019;s delivery of common shares already owned by the participant in an amount that would satisfy the withholding amount due.</P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">8</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How are awards under the 2022 Plan affected by corporate changes or a change in control?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">In the event of a consolidation, merger, dissolution or liquidation of the Company, a sale or distribution of assets or stock, or a change in control (as defined in the 2022 Plan), the Compensation Committee may take any action it deems appropriate, which action may include, without limitation, the following: (i)&#x00a0;acceleration of the vesting schedule; (ii)&#x00a0;purchase or settlement of the award for a cash payment; (iii)&#x00a0;adjustments to reflect the event; or (iv)&#x00a0;assumption of or substitution for the award by the acquiring or surviving legal entity.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Certain United&#x00a0;States Federal Income Tax Aspects</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The following is a summary of the principal U.S.&#x00a0;federal income tax consequences of certain awards under the 2022 Plan, based upon the current provisions of the U.S.&#x00a0;Tax Code and regulations promulgated thereunder. The rules governing the tax treatment of such awards are quite technical, so the following discussion of tax consequences is necessarily general in nature and is not complete. In addition, statutory provisions are subject to change, as are their interpretations, and their application may vary in individual circumstances. This summary does not describe all U.S.&#x00a0;federal tax consequences under the 2022 Plan, nor does it describe state, local, or non<FONT CLASS="nobreak">-U</FONT>.S.&#x00a0;tax consequences.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The 2022 Plan is not qualified under the provisions of Section&#x00a0;401(a)&#x00a0;of the Code and is not subject to any of the provisions of the U.S.&#x00a0;Employee Retirement Income Security Act&#x00a0;of&#x00a0;1974, as amended. The Company&#x2019;s ability to realize the benefit of any tax deductions described below depends on the Company&#x2019;s generation of taxable income as well the satisfaction of the Company&#x2019;s tax reporting obligations.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">Incentive Stock Options.<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>No taxable income is generally realized by the optionee upon the grant or exercise of an incentive stock option. If Company common shares issued to an optionee pursuant to the exercise of an incentive stock option are sold or transferred after two&#x00a0;years from the date of grant and after one year from the date of exercise, then generally (i)&#x00a0;upon sale of such shares, any amount realized in excess of the exercise price (the amount paid for the shares) will be taxed to the optionee as a long<FONT CLASS="nobreak">-term</FONT> capital gain, and any loss sustained will be a long<FONT CLASS="nobreak">-term</FONT> capital loss, and (ii)&#x00a0;neither the Company nor its subsidiaries will be entitled to any deduction for U.S.&#x00a0;federal income tax purposes; provided that such incentive stock option otherwise meets all of the technical requirements of an incentive stock option. The exercise of an incentive stock option will give rise to an item of tax preference that may result in alternative minimum tax liability for the optionee.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If Company common shares acquired upon the exercise of an incentive stock option are disposed of prior to the expiration of the two<FONT CLASS="nobreak">-year</FONT> and one<FONT CLASS="nobreak">-year</FONT> holding periods described above (a &#x201c;disqualifying disposition&#x201d;), generally (i)&#x00a0;the optionee will realize ordinary income in the year of disposition in an amount equal to the excess (if any) of the fair market value of the shares at exercise (or, if less, the amount realized on a sale of such shares) over the exercise price thereof, and (ii)&#x00a0;the Company or a subsidiary will be entitled to deduct such amount. Special rules will apply where all or a portion of the exercise price of the incentive stock option is paid by tendering Company common shares.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If an incentive stock option is exercised at a time when it no longer qualifies for the tax treatment described above, the option is treated as a nonstatutory stock option. Generally, an incentive stock option will not be eligible for the tax treatment described above if it is exercised more than three&#x00a0;months following termination of employment (or one year in the case of termination of employment by reason of disability). In the case of termination of employment by reason of death, the three<FONT CLASS="nobreak">-month</FONT> rule does not apply.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">Nonstatutory Stock Option.<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>No taxable income is generally realized by the optionee at the time a nonstatutory stock option is granted. Generally (i)&#x00a0;at exercise, ordinary income is realized by the optionee in an amount equal to the difference between the exercise price and the fair market value of the Company common shares on the date of exercise, and either the Company or a subsidiary receives a tax deduction for the same amount, and (ii)&#x00a0;at disposition, appreciation or depreciation after the date of exercise is treated as either short<FONT CLASS="nobreak">-term</FONT> or long<FONT CLASS="nobreak">-term</FONT> capital gain or loss depending on how long the shares have been held. Special rules will apply where all or a portion of the exercise price of the nonstatutory stock option is paid by tendering Company common shares. Upon exercise, the optionee will also be subject to Social Security taxes on the excess of the fair market value over the exercise price of the option.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">Restricted Stock.<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>Either the Company or a subsidiary generally will be entitled to a tax deduction in an amount equal to the ordinary income realized by the participant at the time the participant recognizes such income. Participants typically are subject to income tax and recognize such tax at the time that an award is exercised, vests, or becomes non<FONT CLASS="nobreak">-forfeitable</FONT>, unless the award provides for deferred settlement.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">9</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The participant&#x2019;s basis for the determination of gain or loss upon the subsequent disposition of restricted shares will be the amount paid for such shares plus any ordinary income recognized when the shares were originally delivered, and the participant&#x2019;s capital gain holding period for those shares will begin on the&#x00a0;day after they are transferred to the participant.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">New Plan Benefits</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">No awards have been previously granted under the 2022 Plan and no awards have been granted that are contingent on shareholder approval of the 2022 Plan. The awards that are to be granted to any participant or group of participants are indeterminable at the date of this proxy statement because participation and the types of awards that may be granted under the 2022 Plan are subject to the discretion of the Compensation Committee. Consequently, no new plan benefits table is included in this proxy statement.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Where can&#x00a0;I get a copy of the 2022 Plan?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">This summary is not a complete description of all provisions of the 2022 Plan. A copy of the 2022 Plan is attached hereto as <FONT CLASS="CharOverride-1" STYLE="text-decoration:underline;">Annex&#x00a0;A</FONT>.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Vote Required for Approval</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The approval of the 2022 Share Incentive Plan requires that a majority in excess of 50 percent of the shares entitled to vote thereon which were present at the meeting and were voted &#x201c;For&#x201d; the proposal. A properly executed proxy card marked &#x201c;Abstain&#x201d; with respect to this proposal will not be voted. Broker non<FONT CLASS="nobreak">-votes</FONT> will have no effect on the vote for Proposal 3.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Recommendation of the Board</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;text-align:center;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">THE BOARD RECOMMENDS THAT YOU VOTE FOR THE <BR>APPROVAL OF THE 2022 SHARE INCENTIVE PLAN</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">10</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">BOARD OF DIRECTORS AND CORPORATE GOVERNANCE INFORMATION</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What if a nominee is unwilling or unable to serve?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Each of the nominees listed in this proxy statement (the &#x201c;Proxy Statement&#x201d;) has agreed to serve as a director, if re<FONT CLASS="nobreak">-elected</FONT> or elected. If for some unforeseen reason a nominee becomes unwilling or unable to serve, proxies will be voted for a substitute nominee selected by the Board of Directors</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How are directors compensated?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">All directors hold office until the expiration of their respective terms or until their successors have been duly elected and qualified. Non<FONT CLASS="nobreak">-employee</FONT> directors are entitled to receive $10,000 per year for serving as directors and may receive stock grants pursuant to our share incentive plans. In addition, non<FONT CLASS="nobreak">-employee</FONT> directors are entitled to receive compensation for their actual travel expenses for each Board of Directors meeting attended, up to a maximum of $2,000 per meeting and $4,000 per year.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How does the Board determine which directors are independent?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Board of Directors reviews the independence of each director yearly. During this review, the Board of Directors considers transactions and relationships between each director (and his or her immediate family and affiliates) and the Company and its management to determine whether any such relationships or transactions are inconsistent with a determination that the director is independent in light of applicable law, listing standards and the Company&#x2019;s director independence standards. The Company believes that it maintains a majority of independent directors who are deemed to be independent under the definition of independence provided by Nasdaq Listing Rule&#x00a0;5605(a)(2).</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What role does the Nominating Committee play in selecting nominees to the Board of Directors?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Two of the primary purposes of the nominating committee of the Board of Director (the &#x201c;Nominating Committee&#x201d;) are (i)&#x00a0;to develop and implement policies and procedures that are intended to ensure that the Board of Directors will be appropriately constituted and organized to meet its fiduciary obligations to the Company and its shareholders and (ii)&#x00a0;to identify individuals qualified to become members of the Board of Directors and to recommend to the Board of Directors the director nominees for the annual meeting of shareholders. The Nominating Committee is also responsible for considering candidates for membership on the Board of Directors submitted by eligible shareholders. The Nominating Committee&#x2019;s charter is available on the Company&#x2019;s Investor Relations website at&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">http:</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">//</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">en.retoeco.com</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT> and in print upon request.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Are the members of the Nominating Committee independent?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Yes. All members of the Nominating Committee have been determined to be independent by the Board of Directors.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How does the Nominating Committee identify and evaluate nominees for director?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Nominating Committee considers candidates for nomination to the Board of Directors from a number of sources. The Nominating Committee conducts an annual evaluation of the Board of Directors, identifies, considers, and recommends candidates to fill new positions or vacancies on the Board, and reviews any candidates recommended by shareholders. The Nominating Committee also evaluates the performance of individual members of the Board eligible for re<FONT CLASS="nobreak">-election</FONT> and recommending the director nominees by class for election to the Board by the shareholders at the annual meeting of shareholders. The Nominating Committee also ensures that each director appointed to the Board of Directors  is not disqualified from acting as a company director under Section 111 of the BVI Business Companies Act, 2004 (as amended).</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What are the Nominating Committee&#x2019;s policies and procedures for considering director candidates recommended by shareholders?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Nominating Committee considers candidates for nomination to the Board of Directors from a number of sources. Current members of the Board of Directors are considered for re<FONT CLASS="nobreak">-election</FONT> unless they have notified the Company that they do not wish to stand for re<FONT CLASS="nobreak">-election</FONT>. The Nominating Committee also considers candidates recommended by current members of the Board of Directors, members of management or eligible shareholders. From time to time the Board of Directors may engage a firm to assist in identifying potential candidates, although the Company did not engage such a firm to identify any of the nominees for director proposed for election at the Annual Meeting.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">11</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Nominating Committee evaluates all candidates for director, regardless of the person or firm recommending such candidate, on the basis of the length and quality of their business experience, the applicability of such candidate&#x2019;s experience to the Company and its business, the skills and perspectives such candidate would bring to the Board of Directors and the personality or &#x201c;fit&#x201d; of such candidate with existing members of the Board of Directors and management. The Nominating Committee does not have a specific policy in place with regard to the consideration of diversity when identifying director nominees. However, the Nominating Committee does consider diversity of opinion and experience when nominating directors.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What are the minimum qualifications required to serve on the Company&#x2019;s Board of Directors?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">All members of the Board of Directors must possess the following minimum qualifications as determined by the Nominating Committee:</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>A director must demonstrate integrity, accountability, informed judgment, financial literacy, creativity and vision;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>A director must be prepared to represent the best interests of all shareholders of the Company, and not just one particular constituency;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>A director must have a record of professional accomplishment in his or her chosen field;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>A director must be prepared and able to participate fully in activities of the Board of directors, including membership on committees of the Board.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If the candidate is to be evaluated by the Nominating Committee, the Secretary will request a detailed resume, an autobiographical statement explaining the candidate&#x2019;s interest in serving as a director of the Company, a completed statement regarding conflicts of interest, and a waiver of liability for a background check from the candidate.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What other considerations does the Nominating Committee consider?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Nominating Committee believes it is important to have directors from various backgrounds and professions in order to ensure that the Board of Directors has a wealth of experiences to inform its decisions. Consistent with this philosophy, in addition to the minimum standards set forth above, business and managerial experience and an understanding of financial statements and financial matters are very important. A director must also not be disqualified from acting as a company director under Section 111 of the BVI Business Companies Act, 2004 (as amended).</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How may shareholders communicate with the members of the Board of Directors?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Shareholders and others who are interested in communicating directly with members of the Board of Directors, including communication of concerns relating to accounting, internal accounting controls or audit matters, or fraud or unethical behavior, may do so by writing to the directors at the following address:</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;text-align:center;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Name of Director or Directors<BR>ReTo </FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Eco</FONT><FONT CLASS="nobreak"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">-Solutions</FONT></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">, Inc.<BR>c</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">/</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">o Beijing REIT Technology Development Co., Ltd.<BR>Building&#x00a0;X</FONT><FONT CLASS="nobreak"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">-702</FONT></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">, Tower A, 60 Anli Road, Chaoyang District, Beijing<BR>People&#x2019;s Republic of China 100101</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Does the Company have a Code of Business Ethics and Conduct?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company has adopted a Code of Business Conduct and Ethics, which is applicable to all directors, officers and associates of the Company, including the principal executive officer and the principal financial and accounting officer. The complete text of the Code of Business Conduct and Ethics is available on the Company&#x2019;s Investor Relations web site at&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">http:</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">//</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">en.retoeco.com</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT> and is also available in print upon request. The Company intends to post any amendments to or waivers from its Code of Business Conduct and Ethics (to the extent applicable to the Company&#x2019;s principal executive officer and principal financial and accounting officer) at this location on its web site.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How often did the Board meet in 2021?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Board of Directors met two times during 2021.</P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">12</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What are the committees of the Board?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">During the fiscal year ended December&#x00a0;31, 2021, the Board of Directors had standing Audit, Nominating, and Compensation Committees (collectively the &#x201c;Committees&#x201d;). The members of each of the Committees as of December&#x00a0;31, 2021, their principal functions, and the number of meetings held during the year ended December&#x00a0;31, 2021 are shown below.</P>
		<P CLASS="H3" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="BoldItalic" STYLE="font-style:italic;font-weight:bold;">Audit Committee</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our Audit Committee consists of Lidong Liu, Baoqing Sun and Tonglong Liu, with Lidong Liu serving as the chairperson. The Board has determined that each of the members of the Audit Committee is &#x201c;independent&#x201d; and that Ms. Lidong Liu qualifies as an &#x201c;audit committee financial expert&#x201d; in accordance with applicable Nasdaq listing standards. The primary responsibility of the Audit Committee is to make such examinations as are necessary to monitor the corporate financial reporting and external audits of the Company and its subsidiaries; to provide to the Board the results of its examinations and recommendations derived therefrom; to outline to the Board improvements made, or to be made, in internal accounting controls; to nominate an independent auditor; and to provide to the Board such additional information and materials as it may deem necessary to make the Board aware of significant financial matters requiring Board attention. The Audit Committee&#x2019;s charter is available on the Company&#x2019;s website at&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">http:</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">//</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">en.retoeco.com</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT> and in print upon request. Our Audit Committee held two meetings during the fiscal year ended December&#x00a0;31, 2021.</P>
		<P CLASS="H3" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="BoldItalic" STYLE="font-style:italic;font-weight:bold;">Compensation Committee</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our Compensation Committee consists of Austin Huang, Baoqing Sun and Tonglong Liu, with Austin Huang serving as the chairperson. The Board has determined that each member of the Compensation Committee is &#x201c;independent&#x201d; as that term is defined under the Nasdaq listing rules.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Compensation Committee reviews and makes recommendations to the board regarding our compensation policies for our officers and all forms of compensation, and also administers our incentive compensation plans and equity<FONT CLASS="nobreak">-based</FONT> plans (but our board retains the authority to interpret those plans). The Compensation Committee&#x2019;s charter is available on the Company&#x2019;s website at&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">http:</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">//</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">en.retoeco.com</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT> and in print upon request. The Compensation Committee held one meeting during the fiscal year ended December&#x00a0;31, 2021.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Compensation Committee may not delegate its authority to other persons. The Compensation Committee has not engaged a compensation consultant to assist in the determination of executive compensation issues. While the Company&#x2019;s executives will communicate with the Compensation Committee regarding executive compensation issues, the Company&#x2019;s executive officers do not participate in any executive compensation decisions.</P>
		<P CLASS="H3" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="BoldItalic" STYLE="font-style:italic;font-weight:bold;">Nominating Committee</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our Nominating Committee consists of Baoqing Sun, Tonglong Liu and Austin Huang, with Austin Huang serving as the chairperson. All members of the Nominating Committee are independent, as such term is defined by the Nasdaq Capital Market listing standards.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Nominating Committee is responsible for the assessment of the performance of the Board, considering and making recommendations to the board with respect to the nominations or elections of directors and other governance issues. The nominating committee considers diversity of opinion and experience when nominating directors. The Nominating Committee&#x2019;s charter is available on the Company&#x2019;s website at&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">http:</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">//</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">en.retoeco.com</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT> and in print upon request. The Nominating Committee held one meeting during the fiscal year ended December&#x00a0;31, 2021.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Board of Directors has determined to provide a process by which shareholders may communicate with the Board as a whole, a Board committee or individual director. Shareholders wishing to communicate with the Board as a whole, a Board committee or an individual member may do so by sending a written communication addressed to the Board of Directors of the Company or to the committee or to an individual director, ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT>, Inc., c/o Beijing REIT Technology Development Co., Ltd., Building&#x00a0;X<FONT CLASS="nobreak">-702</FONT>, Tower A, 60 Anli Road, Chaoyang District, Beijing, People&#x2019;s Republic of China 100101. All communications will be compiled by the Secretary of the Company and submitted to the Board of Directors or the addressee no later than the next regular Board meeting.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">13</P>




	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">MANAGEMENT</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">In addition to the information below, for information as to the business history of our other directors, see the section &#x201c;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">Proposal&#x00a0;One: Election of Directors</FONT>&#x201d; elsewhere in this Proxy Statement.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Degang Hou.<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>Mr.&#x00a0;Hou has served as the Chief Internal Control Officer of ReTo since 2020. From 1983 through 1999, he was an engineer and senior engineer of North Vehicle Research Institute, State Weaponry Equipment Corporation. From 1999 through 2020 he was the deputy general manager for ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT>. He graduated in Ship&#x00a0;Internal&#x00a0;Combustion&#x00a0;Engine&#x00a0;Direction from Dalian University of Technology in 1983.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Yue Hu.<FONT STYLE="width: 13px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>Ms. Hu has served as Chief Financial Officer of ReTo since August&#x00a0;2022. She has worked in Beijing REIT Technology Development Co., Ltd., a wholly owned subsidiary of ReTo, as an assistant to the management since May&#x00a0;2019, and has assisted with preparation and filing of periodic reports of the Company to the Securities and Exchange Commission. From March&#x00a0;2015 to December&#x00a0;2016, Ms. Hu worked in Gu&#x2019;an REIT Machinery Manufacturing Co., Ltd., a former wholly owned subsidiary of the Company, as a procurement specialist, in charge of purchasing accessories needed for production and processing. Ms. Hu received her Bachelor&#x2019;s degree in Accounting from Xi&#x2019;an Siyuan University.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Employment Agreements</FONT></P>
		<P CLASS="H3" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="BoldItalic" STYLE="font-style:italic;font-weight:bold;">Employment Agreement of Hengfang Li</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company entered into an employment agreement with Mr.&#x00a0;Li on December&#x00a0;31, 2021 (the &#x201c;Li Employment Agreement&#x201d;), pursuant to which Mr.&#x00a0;Li serves as Chairman and Chief Executive Officer of the Company and Beijing REIT for a term from January&#x00a0;1, 2022 and shall terminate on December&#x00a0;31, 2023. Pursuant to the Li Employment Agreement, Mr.&#x00a0;Li is entitled to an annual compensation of RMB 800,000 (approximately $117,000) and social insurance and other employee benefits (including health insurance, vacation and expense reimbursement), each in accordance with PRC law and the Company&#x2019;s policies.</P>
		<P CLASS="H3" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="BoldItalic" STYLE="font-style:italic;font-weight:bold;">Employment Agreement of Guangfeng Dai</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company entered into an employment agreement with Mr.&#x00a0;Dai on December&#x00a0;31, 2021, (the &#x201c;Dai Employment Agreement&#x201d;) pursuant to which Mr.&#x00a0;Dai serves as the President of the Company and Beijing REIT for a term from January&#x00a0;1, 2022 and shall terminate on December&#x00a0;31, 2023. Pursuant to the Dai Employment Agreement, Mr.&#x00a0;Dai is entitled to annual compensation of RMB 750,000 (approximately $109,000) and social insurance and other employee benefits (including health insurance, vacation and expense reimbursement), each in accordance with PRC law and the Company&#x2019;s policy.</P>
		<P CLASS="H3" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="BoldItalic" STYLE="font-style:italic;font-weight:bold;">Employment Agreement of Zhizhong Hu</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company entered into an employment agreement with Mr.&#x00a0;Hu on December&#x00a0;31, 2021, (the &#x201c;Hu Employment Agreement&#x201d;), pursuant to which Mr.&#x00a0;Hu serves as the Chief Technology Officer of the Company and Beijing REIT for a term from January&#x00a0;1, 2022 and shall terminate on December&#x00a0;31, 2023. Pursuant to the Hu Employment Agreement, Mr.&#x00a0;Hu is entitled to annual compensation of RMB 700,000 (approximately $102,000) and social insurance and other employee benefits (including health insurance, vacation and expense reimbursement), each in accordance with PRC law and the Company&#x2019;s policy.</P>
		<P CLASS="H3" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="BoldItalic" STYLE="font-style:italic;font-weight:bold;">Employment Agreement of Degang Hou</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company entered into an employment agreement with Mr.&#x00a0;Hou on December&#x00a0;31, 2021 (the &#x201c;Hou Employment Agreement&#x201d;), pursuant to which Mr.&#x00a0;Hou serves as the Chief Internal Control Officer of the Company and Beijing REIT for a term from January&#x00a0;1, 2022 and shall terminate on December&#x00a0;31, 2023. Pursuant to the Hou Employment Agreement, Mr.&#x00a0;Hou is entitled to annual compensation of RMB 700,000 (approximately $102,000) and social insurance and other employee benefits (including health insurance, vacation and expense reimbursement), each in accordance with PRC law and the Company&#x2019;s policy.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">14</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H3" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="BoldItalic" STYLE="font-style:italic;font-weight:bold;">Employment Agreement with Yue Hu</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company entered into an employment agreement with Ms. Hu on August&#x00a0;15, 2022 providing for Ms. Hu to serve as the Company&#x2019;s Chief Financial Officer (the &#x201c;Hu Employment Agreement&#x201d;) for a term from August&#x00a0;15, 2022 to August&#x00a0;14, 2025. Pursuant to the terms of the Hu Employment Agreement, Ms. Hu will be entitled to an annual compensation of RMB180,000 (approximately $26,500) and social insurance and other employee benefits (including health insurance, vacation and expense reimbursement), each in accordance with laws in the People&#x2019;s Republic of China and the Company&#x2019;s policy. The Hu Employment Agreement may be terminated in accordance with the PRC Labor Contract Law and relevant local regulations in Beijing.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Compensation of Directors and Executive Officers</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">In 2021, we expensed an aggregate of approximately $501,233 as salaries, bonuses and fees to our senior officers named in this Proxy Statement. We do not separately set aside any amounts for pensions, retirement or other benefits for our executive officers, other than pursuant to relevant statutory requirements.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Officers are elected by and serve at the discretion of the Board of Directors. Employee directors do not receive any compensation for their services on the Board of Directors. Non<FONT CLASS="nobreak">-employee</FONT> directors are entitled to receive $10,000 per year for serving as directors and may receive stock grants pursuant to our share incentive plans. In addition, non<FONT CLASS="nobreak">-employee</FONT> directors are entitled to receive compensation for their actual travel expenses for each Board of Directors meeting attended, up to a maximum of $2,000 per meeting and $4,000 per year.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">2018 Share Incentive Plan</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">On November&#x00a0;6, 2018, the Company&#x2019;s shareholders approved the 2018 Share Incentive Plan (the &#x201c;2018 Incentive Plan&#x201d;). The 2018 Incentive Plan allows for issuance of up to 2,000,000 common shares to employees, non<FONT CLASS="nobreak">-employee</FONT> directors, officers and consultants for services rendered to the Company.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">As of the date of this Proxy Statement, no shares available for issuance under the 2018 Incentive Plan.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">2021 Share Incentive Plan</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">On November&#x00a0;23, 2021, Beijing time, the Company&#x2019;s shareholders approved the 2021 Share Incentive Plan (the &#x201c;2021 Incentive Plan&#x201d;). The 2021 Incentive Plan allows for issuance of up to 3,000,000 common shares to employees, non<FONT CLASS="nobreak">-employee</FONT> directors, officers and consultants for services rendered to the Company.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">As of the date of this Proxy Statement, there are no shares available for issuance under the 2021 Incentive Plan.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Board of Directors</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our board of directors currently consists of seven directors. The directors are divided into three classes, as nearly equal in number as the then total number of directors permits. Only one class of directors will be elected in each year and each class serving a three <FONT CLASS="nobreak">-year</FONT> term. The term of office for our Class&#x00a0;A directors, consisting of Austin Huang and Lidong Liu, will expire at our 2023 annual meeting of shareholders. The term of office for our Class&#x00a0;B directors, consisting of Baoqing Sun and Tonglong Liu, will expire at our 2024 annual meeting of shareholders. The term of office for our Class&#x00a0;C directors, consisting of Hengfang Li, Guangfeng Dai and Zhizhong Hu, will expire at our 2025 annual meeting of shareholders.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If the number of directors changes, any increase or decrease will be apportioned among the classes so as to maintain the number of directors in each class as nearly as possible. Any additional director of a class elected to fill a vacancy resulting from an increase in such class will hold office for a term that coincides with the remaining term of that class. Decreases in the number of directors will not shorten the term of any incumbent director. These board provisions could make it more difficult for third parties to gain control of our Company by making it difficult to replace members of the board of directors.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">There are no membership qualifications for directors. Further, there are no share ownership qualifications for directors unless so fixed by us in a general meeting.</P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">15</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Board of Directors maintains a majority of independent directors who are determined to be independent under the definition of independence Nasdaq listing rules. Baoqing Sun, Tonglong Liu and Austin Huang are our independent directors.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">There are no other arrangements or understandings pursuant to which our directors are selected or nominated. We do not have any service contacts with our directors that provide for benefits upon termination of employment.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our Board of Directors plays a significant role in our risk oversight. The Board of Directors makes all relevant company decisions. As such, it is important for us to have our Chief Executive Officer serve on the Board as he plays key roles in the risk oversight or the Company. As a smaller reporting company with a small board of directors, we believe it is appropriate to have the involvement and input of all of our directors in risk oversight matters.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Committees of the Board of Directors</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Currently, three Committees have been established under the board: the Audit Committee, the Compensation Committee and the Nominating Committee. The Audit Committee is responsible for overseeing the accounting and financial reporting processes of our Company and audits of the financial statements of our Company, including the appointment, compensation and oversight of the work of our independent auditors. The Compensation Committee reviews and makes recommendations to the board regarding our compensation policies for our officers and all forms of compensation, and also administers our incentive compensation plans and equity<FONT CLASS="nobreak">-based</FONT> plans (but our board retains the authority to interpret those plans). The Nominating Committee is responsible for the assessment of the performance of the board, considering and making recommendations to the board with respect to the nominations or elections of directors and other governance issues. The Nominating Committee considers diversity of opinion and experience when nominating directors.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Baoqing Sun and Tonglong Liu serve on all three Committees, Austin Huang serves on the Nominating Committee and Compensation Committee, Lidong Liu serves on the Audit Committee. At this time, Austin Huang chairs the Nominating Committee; Lidong Liu chairs the Audit Committee; and Austin Huang chairs the Compensation Committee. Lidong Liu qualifies as an &#x201c;audit committee financial expert&#x201d; as that term is defined by the applicable SEC regulations and Nasdaq Capital Market corporate governance requirements.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Duties of Directors</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Under British Virgin Islands law, our directors have a duty to act honestly, in good faith and in the best interests of the Company. Our directors also have a duty to exercise the care, diligence and skills that a reasonable person would exercise in comparable circumstances. In fulfilling their duty of care to us, our directors must ensure compliance with our Memorandum and Articles of Association and British Virgin Islands law. Failure to perform these duties in this manner may leave the director liable for damages if the Company suffers a loss as a result of such actions.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The functions and powers of our Board of Directors include, among others:</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>having all the powers necessary for managing and for directing and supervising, the business and affairs for the Company;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>appointing officers and determining the term of office of the officers;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>fixing the emoluments of officers;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>exercising all powers of the Company to incur indebtedness, liabilities or obligations and to secure indebtedness, liabilities or obligations whether of the Company or of any third party;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>designating Committees of directors;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>executing checks, promissory notes, drafts, bills of exchange and other negotiable instruments on behalf of the Company; and</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;list-style-type:none;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>determining that any sale, transfer, lease, exchange, or other disposition is in the usual or regular course of the business carried on by the Company and such determination is, in the absence of fraud, conclusive.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">16</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Interested Transactions</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">A director may vote, attend a Board meeting or sign a document on our behalf with respect to any contract or transaction in which he or she is interested. A director must promptly disclose the interest to all other directors after becoming aware of the fact that he or she is interested in a transaction we have entered into or are to enter into. A general notice or disclosure to the board or otherwise contained in the minutes of a meeting or a written resolution of the board or any committee of the board that a director is a shareholder, director, officer or trustee of any specified firm or company and is to be regarded as interested in any transaction with such firm or company will be sufficient disclosure, and, after such general notice, it will not be necessary to give special notice relating to any particular transaction. A director may be counted for a quorum upon a motion in respect of any contract or arrangement which he shall make with our company, or in which he is so interested and may vote on such motion.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Remuneration and Borrowing</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The directors may receive such remuneration as our Board of Directors may determine from time to time. Each director is entitled to be repaid or prepaid for all traveling, hotel and incidental expenses reasonably incurred or expected to be incurred in attending meetings of our Board of Directors or committees of our Board of Directors or shareholder meetings or otherwise in connection with the discharge of his or her duties as a director. The Compensation Committee will assist the directors in reviewing and approving the compensation structure for the directors.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our Board of Directors may exercise all the powers of the Company to borrow money and to mortgage or charge our undertakings and property or any part thereof, to issue debentures, debenture stock and other securities whenever money is borrowed or as security for any debt, liability or obligation of the Company or of any third party.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Qualification</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">A director is not required to hold shares as a qualification to office.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Limitation on Liability and Other Indemnification Matters</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Under British Virgin Islands law, each of our directors and officers, in performing his or her functions, is required to act honestly and in good faith with a view to our best interests. Our Memorandum and Articles of Association provide that we shall indemnify against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement and reasonably incurred in connection with legal, administrative or investigative proceedings any person who: (a) is or was a party or is threatened to be made a party to any threatened, pending or completed proceedings, whether civil, criminal, administrative or investigative, by reason of the fact that the person is or was a director; or (b)&#x00a0;is&#x00a0;or was, at our request, serving as a director of, or in any other capacity is or was acting for, another body corporate or a partnership, joint venture, trust or other enterprise. Such limitation of liability does not affect the availability of equitable remedies such as injunctive relief or rescission. These provisions will not limit the liability of directors under United&#x00a0;States federal securities laws.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">We may only indemnify a director if he or she acted honestly and in good faith with the view to our best interests and, in the case of criminal proceedings, the director had no reasonable cause to believe that his or her conduct was unlawful. The decision of our Board of Directors as to whether the director acted honestly and in good faith with a view to our best interests and as to whether the director had no reasonable cause to believe that his or her conduct was unlawful, is in the absence of fraud sufficient for the purposes of indemnification, unless a question of law is involved. The termination of any proceedings by any judgment, order, settlement, conviction or the entry of no plea does not, by itself, create a presumption that a director did not act honestly and in good faith and with a view to our best interests or that the director had reasonable cause to believe that his or her conduct was unlawful. If a director to be indemnified has been successful in defense of any proceedings referred to above, the director is entitled to be indemnified against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement and reasonably incurred by the director or officer in connection with the proceedings.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">We may purchase and maintain insurance in relation to any of our directors or officers against any liability asserted against the directors or officers and incurred by the directors or officers in that capacity, whether or not we have or would have had the power to indemnify the directors or officers against the liability as provided in our Memorandum and Articles of Association.</P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">17</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted for our directors or officers under the foregoing provisions, we have been informed that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable as a matter of United&#x00a0;States law.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Material Changes in Manner of Recommending Board of Directors Nominees</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">There were no material changes in manner of recommending Board of Directors nominees to our Board of Directors in the fiscal year ended December&#x00a0;31, 2021.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Related Party Transactions</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Please refer to the Company&#x2019;s Annual Report on Form&#x00a0;20<FONT CLASS="nobreak">-F</FONT> for a full discussion of related party transactions.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our Audit Committee (which consists solely of independent directors) has approved all related party transactions. All material related party transactions are made or entered into on terms that are no less favorable to us than can be obtained from unaffiliated third parties.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">18</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">AUDIT COMMITTEE REPORT AND FEES PAID TO <BR>INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Who served on the Audit Committee of the Board of Directors during fiscal year 2021?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The members of the Audit Committee as of December&#x00a0;31, 2021 were Sophia Liu (resigned in June&#x00a0;2021), Lidong Liu (appointed in June&#x00a0;2021), Shuhua Ma and Zhi Li. Each member of the Audit Committee is independent under the rules of the SEC and the Nasdaq Capital Market. The Board of Directors has determined that Dr.&#x00a0;Liu, who is an independent director, is an &#x201c;audit committee financial expert&#x201d; as such term is defined in Item&#x00a0;407(d)(5)&#x00a0;of Regulation&#x00a0;S<FONT CLASS="nobreak">-K</FONT> promulgated under the Securities Exchange&#x00a0;Act&#x00a0;of&#x00a0;1934, as amended (the &#x201c;Exchange&#x00a0;Act&#x201d;).</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What document governs the activities of the Audit Committee?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Audit Committee acts under a written charter, which sets forth its responsibilities and duties, as well as requirements for the Audit Committee&#x2019;s composition and meetings. The Audit Committee Charter is available on the Company&#x2019;s website at&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">http:</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">//</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">en.retoeco.com</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT>.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">How does the Audit Committee conduct its meetings?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">During fiscal year ended December&#x00a0;31, 2021, the Audit Committee met with the senior members of the Company&#x2019;s financial management team and the Company&#x2019;s independent registered public accounting firm. The Audit Committee&#x2019;s agenda was established by the Chairman. At each meeting, the Audit Committee reviewed and discussed various financial and regulatory issues. The Audit Committee also had private, separate sessions from time to time with representatives of the Company&#x2019;s independent registered public accounting firm, at which meetings candid discussions of financial management, accounting and internal control issues took place.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Does the Audit Committee review the periodic reports and other public financial disclosures of the Company?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Audit Committee reviews each of the Company&#x2019;s semi<FONT CLASS="nobreak">-annal</FONT> and annual reports, including Management&#x2019;s Discussion of Results of Operations and Financial Condition. As part of this review, the Audit Committee discusses the reports with the Company&#x2019;s management and considers the audit and review reports prepared by the independent registered public accounting firm about the Company&#x2019;s semi<FONT CLASS="nobreak">-annual</FONT> and annual reports, as well as related matters such as the quality (and not just the acceptability) of the Company&#x2019;s accounting principles, alternative methods of accounting under generally accepted accounting principles and the preferences of the independent registered public accounting firm in this regard, the Company&#x2019;s critical accounting policies and the clarity and completeness of the Company&#x2019;s financial and other disclosures.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What is the role of the Audit Committee in connection with the financial statements and controls of the Company?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Management of the Company has primary responsibility for the financial statements and internal control over financial reporting. The independent registered public accounting firm has responsibility for the audit of the Company&#x2019;s financial statements. The responsibility of the Audit Committee is to oversee financial and control matters, among other responsibilities fulfilled by the Audit Committee under its charter. The Audit Committee meets regularly with the independent registered public accounting firm, without the presence of management, to ensure candid and constructive discussions about the Company&#x2019;s compliance with accounting standards and best practices among public companies comparable in size and scope to the Company. The Audit Committee also regularly reviews with its outside advisors material developments in the law and accounting literature that may be pertinent to the Company&#x2019;s financial reporting practices.</P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">19</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What has the Audit Committee done with regard to the Company&#x2019;s audited financial statements for the fiscal year ended December&#x00a0;31, 2021?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Audit Committee has:</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>reviewed and discussed the audited financial statements with the Company&#x2019;s management; and</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>discussed with YCM CPA Inc., the Company&#x2019;s independent registered public accounting firm for the fiscal year ended December<FONT CLASS="nobreak">&#x00a0;</FONT>31, 2021, the matters required to be discussed by Statement on Auditing Standards No.<FONT CLASS="nobreak"> </FONT>61, Communication with Audit Committees, as amended.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Has the Audit Committee considered the independence of the Company&#x2019;s auditors?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Audit Committee has received from YCM CPA Inc. the written disclosures and the letter required by Independence Standards Board Standard No.<FONT CLASS="nobreak"> </FONT>1, Independence Discussions with Audit Committees, and the Audit Committee has discussed with YCM CPA Inc. about their independence. The Audit Committee has concluded that YCM CPA Inc. is independent from the Company and its management.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Has the Audit Committee made a recommendation regarding the audited financial statements for fiscal 2021?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Based upon its review and the discussions with management and the Company&#x2019;s independent registered public accounting firm, the Audit Committee recommended to the Board of Directors that the audited consolidated financial statements for the Company be included in the Company&#x2019;s Annual Report on Form&#x00a0;20<FONT CLASS="nobreak">-F</FONT> for the fiscal year ended December&#x00a0;31, 2021.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Has the Audit Committee reviewed the fees paid to the independent registered public accounting firm during fiscal 2021?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Audit Committee has reviewed and discussed the fees paid to YCM CPA Inc. during 2021 for audit, audit<FONT CLASS="nobreak">-related</FONT>, tax and other services, which are set forth below under &#x201c;Fees Paid to Independent Registered Public Accounting Firm.&#x201d;</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">What is the Company&#x2019;s policy regarding the retention of the Company&#x2019;s auditors?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Audit Committee has adopted a policy regarding the retention of the independent registered public accounting firm that requires pre<FONT CLASS="nobreak">-approval</FONT> of all services by the Audit Committee.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Who prepared this report?</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">This report has been furnished by the members of the Audit Committee:</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Lidong Liu, Chairwoman</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:0pt;margin-top:0pt;">Baoqing Sun</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:0pt;margin-top:0pt;">Tonglong Liu</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">20</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">FEES PAID TO INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Audit Fees</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">During fiscal 2021, the aggregate audit fees of YCM CPA Inc., our new independent registered public accounting firm, and Friedman LLP, our former independent registered public accounting firm, for the annual audit of our financial statements and the periodic reviews of the financial statements were $190,000.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">During fiscal 2020, Friedman LLP&#x2019;s fees for the annual audit of our financial statements and the periodic reviews of the financial statements were $160,000.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Audit-Related</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;"> Fees</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company has not paid YCM CPA Inc. and Friedman LLP, for audit<FONT CLASS="nobreak">-related</FONT> services for the fiscal year ended December&#x00a0;31, 2021 and 2020, respectively.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;">Tax Fees</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company has not paid YCM CPA Inc. and Friedman LLP, for tax services for the fiscal year ended December&#x00a0;31, 2021 and 2020, respectively.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">All Other Fees</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The Company has not paid YCM CPA Inc. and Friedman LLP for any other services in the fiscal year ended December&#x00a0;31, 2021 and 2020, respectively.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Audit Committee </FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Pre-Approval</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;"> Policies</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Before YCM CPA Inc. was engaged by the Company to render audit or non<FONT CLASS="nobreak">-audit</FONT> services, the engagement was approved by the Company&#x2019;s Audit Committee. All services rendered by YCM CPA Inc. have been so approved.</P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">21</P>



	<DIV CLASS="Basic-Text-Frame" STYLE="margin:0;padding:0;border-width:0;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">BENEFICIAL OWNERSHIP OF COMMON STOCK</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The following table sets forth information with respect to beneficial ownership of our common shares as of November&#x00a0;2, 2022, for:</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>Each person who is known by us to beneficially own 5% or more of our outstanding common shares;</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>Each of our current directors and named executive officers; and</P>
		<P CLASS="BL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:8pt;"><FONT CLASS="bullet" STYLE="font-size:10pt;">&#x2022;<FONT STYLE="width: 27px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT>All directors and named executive officers as a group.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The number and percentage of common shares beneficially owned are based on 43,108,112 common shares issued and outstanding as of November&#x00a0;2, 2022. Information with respect to beneficial ownership has been furnished by each director, officer or beneficial owner of more than 5% of our common shares. Beneficial ownership is determined in accordance with the rules of the SEC and generally requires that such person have voting or investment power with respect to securities. In computing the number of common shares beneficially owned by a person listed below and the percentage ownership of such person, common shares underlying options, warrants or convertible securities held by each such person that are exercisable or convertible within 60&#x00a0;days of November&#x00a0;2, 2022 are deemed outstanding, but are not deemed outstanding for computing the percentage ownership of any other person. Except as otherwise indicated in the footnotes to this table, or as required by applicable community property laws, all persons listed have sole voting and investment power for all common shares shown as beneficially owned by them. Unless otherwise indicated in the footnotes, the address for each principal shareholder is in the care of our Company at Building&#x00a0;X<FONT CLASS="nobreak">-702</FONT>, Tower A, 60 Anli Road, Chaoyang District, Beijing, People&#x2019;s Republic of China 100101.</P>
		<TABLE CLASS="No-Table-Style" STYLE="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 3pt 0;">


				<TR CLASS="No-Table-Style _idGenTableRowColumn-6" STYLE="height:12pt;">
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">

					</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TCH" COLSPAN="4" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 30.77%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="bottom">
						<P CLASS="TCH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0pt;"><FONT CLASS="CharOverride-1" STYLE="font-style:normal;font-weight:bold;">Beneficial Ownership</FONT></P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-6" STYLE="height:12pt;">
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="bottom">
						<P CLASS="TCH_left" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-style:normal;font-weight:bold;">Name of Beneficial Owner</FONT></P>
					</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;border-bottom-width:0pt;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="bottom">
						<P CLASS="TCH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0pt;"><FONT CLASS="CharOverride-1" STYLE="font-style:normal;font-weight:bold;">Common Shares</FONT></P>
					</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;border-bottom-width:0pt;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TCH" COLSPAN="2" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 15.38%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="bottom">
						<P CLASS="TCH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0pt;"><FONT CLASS="CharOverride-1" STYLE="font-style:normal;font-weight:bold;">Percentage</FONT></P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="background: #CCEEFF;height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Directors and Executive Officers</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-top-width:0pt;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-top-width:0pt;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 13.68%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.71%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;border-bottom: none; border-bottom-style: none;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;margin-left:0pt;text-indent:0pt;">&#x00a0;</P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;">Hengfang Li<FONT CLASS="Superscript" STYLE="vertical-align:super;font-size:58%;">(1)</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">2,396,264</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 13.68%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">5.6</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.71%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;border-bottom: none; border-bottom-style: none;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;text-align:left;">%</P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="background: #CCEEFF;height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;">Guangfeng Dai<FONT CLASS="Superscript" STYLE="vertical-align:super;font-size:58%;">(2)</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">1,370,632</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 13.68%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">3.2</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.71%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;border-bottom: none; border-bottom-style: none;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;text-align:left;">%</P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;">Zhizhong Hu<FONT CLASS="Superscript" STYLE="vertical-align:super;font-size:58%;">(3)</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">1,205,632</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 13.68%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">2.8</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.71%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;border-bottom: none; border-bottom-style: none;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;text-align:left;">%</P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="background: #CCEEFF;height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;">Degang Hou<FONT CLASS="Superscript" STYLE="vertical-align:super;font-size:58%;">(4)</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">1,105,632</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 13.68%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">2.6</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.71%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;border-bottom: none; border-bottom-style: none;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;text-align:left;">%</P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;">Lidong Liu</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">&#x2014;</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 13.68%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
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						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;">Austin Huang</P>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">30,000</P>
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						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">&#x2014;</P>
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						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">&#x00a0;</P>
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				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="background: #CCEEFF;height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">All directors and executive officers as a group (nine persons)</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">6,</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">108</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">,160</FONT></P>
					</TD>
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						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">1</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">4.2</FONT></P>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.71%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;border-bottom: none; border-bottom-style: none;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;text-align:left;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">%</FONT></P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;">Other 5% or Greater Beneficial Owners</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 13.68%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.71%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;border-bottom: none; border-bottom-style: none;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;margin-left:0pt;text-indent:0pt;">&#x00a0;</P>
					</TD>
				</TR>
				<TR CLASS="No-Table-Style _idGenTableRowColumn-7" STYLE="background: #CCEEFF;height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 67.95%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:10pt;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:-10pt;widows:1;">REIT International Development (Group) Co., Limited<FONT CLASS="CharOverride-2" STYLE="font-size:58%;vertical-align:super;">(1)(2)(3)(4)</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 14.10%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">3,903,161</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 13.68%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;">9.1</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.71%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;border-bottom: none; border-bottom-style: none;" VALIGN="bottom">
						<P CLASS="Tbody_rightalign-bracket-" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:right;text-indent:0;widows:1;margin-right:0pt;text-align:left;">%</P>
					</TD>
				</TR>

		</TABLE>
		<P CLASS="Tablefootnotef" STYLE="margin-top: 0in;  border: none; margin-right: 0in; margin-bottom: -5pt; margin-left: 24.0pt; text-align: justify; text-justify: inter-ideograph; text-indent: -24.0pt; padding: 0in; font-size: 9.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">____________</P><P CLASS="Tablefootnote_f" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:10pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:10pt;">*<FONT STYLE="width: 24px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>Less than 1%.</P>
		<P CLASS="Tablefootnote_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:0;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:0pt;">(1)<FONT STYLE="width: 18px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>Represents (i)&#x00a0;approximately 1,561,264 common shares held through REIT International Development (Group) Co., Limited, a Hong&#x00a0;Kong limited liability company (&#x201c;REIT International&#x201d;). Mr.&#x00a0;Li holds a 40% ownership of REIT International and has the voting and investment power with respect to 40% of the 3,903,161 common shares held by REIT International; (ii)&#x00a0;10,000 common shares held through Soothie Holdings Limited, a British Virgin Islands company, controlled by Mr.&#x00a0;Li; (iii)&#x00a0;225,000 common shares held by Mr.&#x00a0;Li directly and (iv)&#x00a0;600,000 common shares to be granted to Mr.&#x00a0;Li under the 2021 Share Incentive Plan.</P>
		<P CLASS="Tablefootnote_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:0;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:0pt;">(2)<FONT STYLE="width: 18px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>Represents (i)&#x00a0;approximately 780,632 common shares held through REIT International. Mr.&#x00a0;Dai holds a 20% ownership of REIT International and has the voting and investment power with respect to 20% of the 3,903,161 common shares held by REIT International; (ii)&#x00a0;150,000 common shares held by Mr.&#x00a0;Dai directly and (iii)&#x00a0;440,000 common shares to be granted to Mr.&#x00a0;Dai under the 2021 Share Incentive Plan.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">22</P>



	<DIV CLASS="Basic-Text-Frame" STYLE="margin:0;padding:0;border-width:0;">
		<P CLASS="Tablefootnote_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:0;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:0pt;">(3)<FONT STYLE="width: 18px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>Represents (i)&#x00a0;approximately 780,632 common shares held through REIT International. Mr.&#x00a0;Hu holds a 20% ownership of REIT International and has the voting and investment power with respect to 20% of the 3,903,161 common shares held by REIT International; (ii)&#x00a0;125,000 common shares held by Mr.&#x00a0;Hu directly; and (iii)&#x00a0;300,000 common shares to be granted to Mr.&#x00a0;Hu under the 2021 Share Incentive Plan.</P>
		<P CLASS="Tablefootnote_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:0;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-top:0pt;">(4)<FONT STYLE="width: 18px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>Represents (i)&#x00a0;approximately 780,632 common shares held through REIT International. Mr.&#x00a0;Hou holds a 20% ownership of REIT International and has the voting and investment power with respect to 20% of the 3,903,161 common shares held by REIT International; (ii)&#x00a0;125,000 common shares held by Mr.&#x00a0;Hou directly; and (iii)&#x00a0;200,000 common shares to be granted to Mr.&#x00a0;Hou under the 2021 Share Incentive Plan.</P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">23</P>




	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">GENERAL</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-decoration:underline;text-indent:-24pt;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Compensation Committee Interlocks and Insider Participation</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">None of the members of the Board of Directors who served on the Compensation Committee during the fiscal year ended December&#x00a0;31, 2021 were officers or employees of the Company or any of its subsidiaries or had any relationship with the Company requiring disclosure under SEC regulations. During fiscal year 2021, no interlocking relationships existed between any of our executive officers or members of our Board or Compensation Committee, on the one hand, and the executive officers or members of the board of directors or compensation committee of any other entity, on the other hand.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-decoration:underline;text-indent:-24pt;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Compliance with Section&#x00a0;16(a)&#x00a0;Beneficial Ownership Reporting Requirements</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">We are a foreign private issuer and, as a result, our directors and executive officers will not be required to report equity holdings under Section&#x00a0;16 of the Exchange&#x00a0;Act and will not be subject to the insider short<FONT CLASS="nobreak">-swing</FONT> profit disclosure and recovery regime.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-decoration:underline;text-indent:-24pt;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Availability of Annual Report to Shareholders</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Rules promulgated by the SEC require us to provide an Annual Report to Shareholders who receive this Proxy Statement. We will also provide copies of the Annual Report to brokers, dealers, banks, voting trustees and their nominees for the benefit of their beneficial owners of record. Additional copies of the Annual Report on Form&#x00a0;20<FONT CLASS="nobreak">-F</FONT> for the fiscal year ended December&#x00a0;31, 2021 (without exhibits or documents incorporated by reference), are available without charge to shareholders upon written request to Secretary, ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT> Inc., Building&#x00a0;X<FONT CLASS="nobreak">-702</FONT>, Tower A, 60 Anli Road, Chaoyang District, Beijing, People&#x2019;s Republic of China 100101, by calling (+86)&#x00a0;010<FONT CLASS="nobreak">-64827328</FONT> or via the Internet at&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">http:</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">//</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">en.retoeco.com</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">/</FONT>. You may obtain a copy of the Company&#x2019;s Annual Report on Form&#x00a0;20<FONT CLASS="nobreak">-F</FONT>, free of charge, from the SEC&#x2019;s website at&#x00a0;<FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">https:</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">//</FONT><FONT CLASS="Italic" STYLE="font-style:italic;font-weight:normal;">www.sec.gov</FONT>.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-decoration:underline;text-indent:-24pt;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Shareholder Proposals</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">To be considered for inclusion in next year&#x2019;s Proxy Statement or considered at next year&#x2019;s annual meeting but not included in the Proxy Statement, shareholder proposals must be submitted in writing no later than July<FONT CLASS="nobreak"> </FONT>5, 2023. All written proposals should be submitted to: Secretary, ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT> Inc., Building&#x00a0;X<FONT CLASS="nobreak">-702</FONT>, Tower A, 60 Anli Road, Chaoyang District, Beijing, People&#x2019;s Republic of China 100101.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-decoration:underline;text-indent:-24pt;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Other Proposed Actions</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">If any other items or matters properly come before the Annual Meeting, the proxies received will be voted on those items or matters in accordance with the discretion of the proxy holders.</P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:24pt;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-decoration:underline;text-indent:-24pt;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Solicitation by Board; Expenses of Solicitation</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Our Board of Directors has sent you this Proxy Statement. Our directors, officers and associates may solicit proxies by telephone or in person. We will also reimburse the expenses of brokers, nominees and fiduciaries that send proxies and proxy materials to our shareholders.</P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">24</P>



	<DIV CLASS="Basic-Text-Frame" STYLE="margin:0;padding:0;border-width:0;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;text-align:right;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">ANNEX A</FONT></P>
		<P CLASS="ParaOverride-2" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:center;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">RETO ECO-SOLUTIONS, INC.</FONT></P>
		<P CLASS="ParaOverride-2" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:center;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-2" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:underline;">2022 SHARE INCENTIVE PLAN  2022</FONT><FONT CLASS="CharOverride-3" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5e74;&#x80a1;&#x6743;&#x6fc0;&#x52b1;&#x8ba1;&#x5212;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">1. </FONT><FONT CLASS="CharOverride-2" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:underline;">Purpose and Effective Date</FONT><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">1.&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x76ee;&#x7684;&#x548c;&#x751f;&#x6548;&#x65e5;&#x671f;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) The purpose of the ReTo Eco-Solutions, Inc. 2022 Share Incentive Plan (the &#x201c;Plan&#x201d;) is to further the long-term stability and financial success of ReTo Eco-Solutions, Inc. (the &#x201c;Company&#x201d;) by attracting and retaining personnel, including employees, non-employee directors, and consultants, through the use of stock incentives. It is believed that ownership of Company stock will stimulate the efforts of those employees upon whose judgment, interest and efforts the Company is and will be largely dependent for the successful conduct of its business.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) ReTo Eco-Solutions, Inc. 2022</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;&#x80a1;&#x6743;&#x6fc0;&#x52b1;&#x8ba1;&#x5212;&#xff08;&#x4ee5;&#x4e0b;&#x7b80;&#x79f0;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x8ba1;&#x5212;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x7684;&#x76ee;&#x7684;&#x662f;&#x901a;&#x8fc7;&#x4f7f;&#x7528;&#x80a1;&#x7968;&#x6fc0;&#x52b1;&#x63aa;&#x65bd;&#x5438;&#x5f15;&#x548c;&#x7559;&#x4f4f;&#x5458;&#x5de5;&#xff08;&#x5305;&#x62ec;&#x96c7;&#x5458;&#x3001;&#x975e;&#x96c7;&#x5458;&#x8463;&#x4e8b;&#x548c;&#x987e;&#x95ee;&#xff09;&#xff0c;&#x4fc3;&#x8fdb;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">ReTo Eco-Solutions, Inc.</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x957f;&#x671f;&#x7a33;&#x5b9a;&#x548c;&#x8d22;&#x52a1;&#x6210;&#x529f;&#x3002;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x516c;&#x53f8;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x957f;&#x671f;&#x7a33;&#x5b9a;&#x548c;&#x8d22;&#x52a1;&#x6210;&#x529f;&#x3002;&#x6211;&#x4eec;&#x76f8;&#x4fe1;&#xff0c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x6240;&#x6709;&#x6743;&#x5c06;&#x6fc0;&#x52b1;&#x8fd9;&#x4e9b;&#x5458;&#x5de5;&#x7684;&#x52aa;&#x529b;&#xff0c;&#x516c;&#x53f8;&#x4e1a;&#x52a1;&#x7684;&#x6210;&#x529f;&#x5f00;&#x5c55;&#x5728;&#x5f88;&#x5927;&#x7a0b;&#x5ea6;&#x4e0a;&#x53d6;&#x51b3;&#x4e8e;&#x4ed6;&#x4eec;&#x7684;&#x5224;&#x65ad;&#x3001;&#x5174;&#x8da3;&#x548c;&#x52aa;&#x529b;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The Plan was adopted by the Board of Directors of the Company on </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">November 2</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">, 2022 (the &#x201c;Effective Date&#x201d;), subject to shareholder approval.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x672c;&#x8ba1;&#x5212;&#x7531;&#x516c;&#x53f8;&#x8463;&#x4e8b;&#x4f1a;&#x4e8e;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">2022</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;"> </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">11</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6708;2&#x65e5;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x751f;&#x6548;&#x65e5;&#x671f;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x901a;&#x8fc7;&#xff0c;&#x4f46;&#x987b;&#x7ecf;&#x80a1;&#x4e1c;&#x6279;&#x51c6;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">2.&#x00a0;</FONT><FONT CLASS="CharOverride-2" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:underline;">Definitions</FONT><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:bold;">2.</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5b9a;&#x4e49;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Act</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The U.S. Securities Exchange Act of 1934, as amended.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6cd5;&#x6848;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x7ecf;&#x4fee;&#x8ba2;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">1934</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;&#x7684;&#x7f8e;&#x56fd;&#x300a;&#x8bc1;&#x5238;&#x4ea4;&#x6613;&#x6cd5;&#x300b;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Affiliate</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The meaning assigned to the term &#x201c;affiliate&#x201d; under Rule 12b-2 of the Act.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5173;&#x8054;&#x516c;&#x53f8;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x6cd5;&#x6848;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12b-2</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x5c31;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5173;&#x8054;&#x516c;&#x53f8;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e00;&#x8bcd;&#x6240;&#x8d4b;&#x4e88;&#x7684;&#x542b;&#x4e49;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Applicable Withholding Taxes</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The aggregate amount of federal, state and local income and payroll taxes that the Company or its Affiliate is required to withhold (based on the minimum applicable statutory withholding rates) in connection with any exercise of an Option or the Award, lapse of restrictions or payment with respect to Restricted Stock.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x9002;&#x7528;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x6b3e;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x56e0;&#x884c;&#x4f7f;&#x671f;&#x6743;&#x6216;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5956;&#x52b1;&#xff0c;&#x6216;&#x8005;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x9650;&#x5236;&#x5931;&#x6548;&#x6216;&#x652f;&#x4ed8;&#x800c;&#x987b;&#x9884;&#x6263;&#x7684;&#x8054;&#x90a6;&#x3001;&#x5dde;&#x548c;&#x5730;&#x65b9;&#x6240;&#x5f97;&#x7a0e;&#x548c;&#x5de5;&#x8d44;&#x7a0e;&#x7684;&#x603b;&#x989d;&#xff08;&#x6839;&#x636e;&#x6700;&#x4f4e;&#x9002;&#x7528;&#x7684;&#x6cd5;&#x5b9a;&#x9884;&#x6263;&#x7387;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Award</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The award of an Option or Restricted Stock under the Plan.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5956;&#x52b1;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x671f;&#x6743;&#x6216;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Beneficiary</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The person or persons entitled to receive a benefit pursuant to an Award upon the death of a Participant.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x53d7;&#x76ca;&#x4eba;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x6709;&#x6743;&#x5728;&#x53c2;&#x4e0e;&#x4eba;&#x6b7b;&#x4ea1;&#x540e;&#x6839;&#x636e;&#x5956;&#x52b1;&#x83b7;&#x5f97;&#x5229;&#x76ca;&#x7684;&#x4eba;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(f)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Board</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The Board of Directors of the Company.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(f)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x8463;&#x4e8b;&#x4f1a;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x672c;&#x516c;&#x53f8;&#x7684;&#x8463;&#x4e8b;&#x4f1a;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-1</P>



	<DIV CLASS="Basic-Text-Frame" STYLE="margin:0;padding:0;border-width:0;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(g)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Cause</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Dishonesty, fraud, misconduct, gross incompetence, gross negligence, breach of a material fiduciary duty, material breach of an agreement with the Company or its Affiliate, unauthorized use or disclosure of confidential information or trade secrets, or conviction or confession of a crime punishable by law (except minor violations), in each case as determined by the Committee, which determination shall be binding. Notwithstanding the foregoing, if &#x201c;Cause&#x201d; is defined in an employment agreement between a Participant and the Company (or its Affiliate), &#x201c;Cause&#x201d; shall have the meaning assigned to it in such agreement.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(g)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x539f;&#x56e0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x4e0d;&#x8bda;&#x5b9e;&#x3001;&#x6b3a;&#x8bc8;&#x3001;&#x884c;&#x4e3a;&#x4e0d;&#x7aef;&#x3001;&#x4e25;&#x91cd;&#x65e0;&#x80fd;&#x3001;&#x4e25;&#x91cd;&#x758f;&#x5ffd;&#x3001;&#x8fdd;&#x53cd;&#x91cd;&#x5927;&#x53d7;&#x6258;&#x8d23;&#x4efb;&#x3001;&#x4e25;&#x91cd;&#x8fdd;&#x53cd;&#x4e0e;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x7b7e;&#x8ba2;&#x7684;&#x534f;&#x8bae;&#x3001;&#x672a;&#x7ecf;&#x6388;&#x6743;&#x4f7f;&#x7528;&#x6216;&#x62ab;&#x9732;&#x673a;&#x5bc6;&#x4fe1;&#x606f;&#x6216;&#x5546;&#x4e1a;&#x79d8;&#x5bc6;&#x3001;&#x6216;&#x88ab;&#x5b9a;&#x7f6a;&#x6216;&#x4f9b;&#x8ba4;&#x72af;&#x6709;&#x5e94;&#x53d7;&#x6cd5;&#x5f8b;&#x60e9;&#x7f5a;&#x7684;&#x7f6a;&#x884c;&#xff08;&#x8f7b;&#x5fae;&#x8fdd;&#x6cd5;&#x884c;&#x4e3a;&#x9664;&#x5916;&#xff09;&#xff0c;&#x5728;&#x6bcf;&#x79cd;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x51b3;&#x5b9a;&#xff0c;&#x8fd9;&#x79cd;&#x51b3;&#x5b9a;&#x5e94;&#x5177;&#x6709;&#x7ea6;&#x675f;&#x529b;&#x3002;&#x5c3d;&#x7ba1;&#x6709;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#xff0c;&#x5982;&#x679c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> &#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x539f;&#x56e0;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x548c;&#x516c;&#x53f8;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x4e4b;&#x95f4;&#x7684;&#x5c31;&#x4e1a;&#x534f;&#x8bae;&#x4e2d;&#x6709;&#x6240;&#x5b9a;&#x4e49;&#xff0c;&#x5219;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> &#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x539f;&#x56e0;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e94;&#x5177;&#x6709;&#x8be5;&#x534f;&#x8bae;&#x4e2d;&#x8d4b;&#x4e88;&#x5b83;&#x7684;&#x542b;&#x4e49;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(h)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Change of Control</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(h)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x63a7;&#x5236;&#x6743;&#x7684;&#x6539;&#x53d8;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i) The acquisition by any unrelated person of beneficial ownership (as that term is used for purposes of the Act) of 50% or more of the then outstanding common shares of the Company or the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors. The term &#x201c;unrelated person&#x201d; means any person other than (x)&#x00a0;the Company and its subsidiaries, (y)&#x00a0;an employee benefit plan or related trust sponsored by the Company or its subsidiaries, and (z)&#x00a0;a person who acquires stock of the Company pursuant to an agreement with the Company that is approved by the Board in advance of the acquisition. For purposes of this subsection, a &#x201c;person&#x201d; means an individual, entity or group, as that term is used for purposes of the Act;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x4efb;&#x4f55;&#x975e;&#x5173;&#x8054;&#x4eba;&#x58eb;&#x83b7;&#x5f97;&#x672c;&#x516c;&#x53f8;&#x5f53;&#x65f6;&#x5df2;&#x53d1;&#x884c;&#x7684;&#x666e;&#x901a;&#x80a1;&#x6216;&#x672c;&#x516c;&#x53f8;&#x5f53;&#x65f6;&#x5df2;&#x53d1;&#x884c;&#x7684;&#x6709;&#x6295;&#x7968;&#x6743;&#x7684;&#x8bc1;&#x5238;&#x7684;&#x5408;&#x5e76;&#x6295;&#x7968;&#x6743;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">50%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6216;&#x4ee5;&#x4e0a;&#x7684;&#x5b9e;&#x9645;&#x6240;&#x6709;&#x6743;&#xff08;&#x8be5;&#x672f;&#x8bed;&#x7684;&#x4f7f;&#x7528;&#x5e94;&#x53c2;&#x89c1;&#x300a;&#x6cd5;&#x6848;&#x300b;&#xff09;&#xff0c;&#x6709;&#x6743;&#x5728;&#x9009;&#x4e3e;&#x8463;&#x4e8b;&#x65f6;&#x8fdb;&#x884c;&#x6295;&#x7968;&#x3002;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x975e;&#x5173;&#x8054;&#x4eba;&#x58eb;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x662f;&#x6307;&#x9664;&#x4ee5;&#x4e0b;&#x4eba;&#x58eb;&#x5916;&#x7684;&#x4efb;&#x4f55;&#x4eba;&#x58eb;&#xff1a;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">x</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x672c;&#x516c;&#x53f8;&#x53ca;&#x5176;&#x5b50;&#x516c;&#x53f8;&#xff0c;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">y</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x672c;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5b50;&#x516c;&#x53f8;&#x8d5e;&#x52a9;&#x7684;&#x5458;&#x5de5;&#x798f;&#x5229;&#x8ba1;&#x5212;&#x6216;&#x76f8;&#x5173;&#x4fe1;&#x6258;&#xff0c;&#x4ee5;&#x53ca;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">z</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x6839;&#x636e;&#x4e0e;&#x672c;&#x516c;&#x53f8;&#x8fbe;&#x6210;&#x7684;&#x534f;&#x8bae;&#x6536;&#x8d2d;&#x672c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x4eba;&#x58eb;&#xff0c;&#x8be5;&#x534f;&#x8bae;&#x5728;&#x6536;&#x8d2d;&#x524d;&#x5df2;&#x83b7;&#x8463;&#x4e8b;&#x4f1a;&#x6279;&#x51c6;&#x3002;&#x5c31;&#x672c;&#x5206;&#x8282;&#x800c;&#x8a00;&#xff0c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4eba;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> &#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x662f;&#x6307;&#x4e2a;&#x4eba;&#x3001;&#x5b9e;&#x4f53;&#x6216;&#x56e2;&#x4f53;&#xff0c;&#x8be5;&#x672f;&#x8bed;&#x7684;&#x4f7f;&#x7528;&#x5e94;&#x53c2;&#x89c1;&#x300a;&#x6cd5;&#x6848;&#x300b;&#xff1b;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least 50% of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x516c;&#x53f8;&#x4e0e;&#x4efb;&#x4f55;&#x5176;&#x4ed6;&#x516c;&#x53f8;&#x7684;&#x517c;&#x5e76;&#x6216;&#x5408;&#x5e76;&#xff0c;&#x4f46;&#x82e5;&#x8be5;&#x7b49;&#x517c;&#x5e76;&#x6216;&#x5408;&#x5e76;&#x5c06;&#x5bfc;&#x81f4;&#x516c;&#x53f8;&#x5728;&#x517c;&#x5e76;&#x6216;&#x5408;&#x5e76;&#x524d;&#x53d1;&#x884c;&#x7684;&#x6709;&#x8868;&#x51b3;&#x6743;&#x8bc1;&#x5238;&#x5728;&#x8be5;&#x517c;&#x5e76;&#x6216;&#x5408;&#x5e76;&#x540e;&#x4ecd;&#x7136;&#x7ee7;&#x7eed;&#x4ee3;&#x8868;&#x516c;&#x53f8;&#x6216;&#x5b58;&#x7eed;&#x5b9e;&#x4f53;&#x6216;&#x5176;&#x6bcd;&#x516c;&#x53f8;&#x6d41;&#x901a;&#x7684;&#x6709;&#x8868;&#x51b3;&#x6743;&#x8bc1;&#x5238;&#xff08;&#x901a;&#x8fc7;&#x4ecd;&#x7136;&#x4fdd;&#x6301;&#x6d41;&#x901a;&#x6216;&#x8005;&#x88ab;&#x8f6c;&#x6362;&#x4e3a;&#x5b58;&#x7eed;&#x5b9e;&#x4f53;&#x6216;&#x5176;&#x6bcd;&#x516c;&#x53f8;&#x7684;&#x8868;&#x51b3;&#x6743;&#x8bc1;&#x5238;&#x7684;&#x65b9;&#x5f0f;&#xff09;&#x81f3;&#x5c11;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 50% </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x603b;&#x6295;&#x7968;&#x6743;&#x7684;&#x60c5;&#x5f62;&#xff0c;&#x5219;&#x4e0d;&#x5305;&#x542b;&#x5728;&#x5185;&#xff1b;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) The consummation of the sale or disposition by the Company of all or substantially all of the Company&#x2019;s assets; or</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x516c;&#x53f8;&#x5b8c;&#x6210;&#x51fa;&#x552e;&#x6216;&#x8005;&#x5904;&#x7f6e;&#x516c;&#x53f8;&#x5168;&#x90e8;&#x6216;&#x51e0;&#x4e4e;&#x5168;&#x90e8;&#x7684;&#x8d44;&#x4ea7;&#xff1b;&#x6216;&#x8005;</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iv) A liquidation of the Company.</FONT></P>
		<P CLASS="ParaOverride-5" STYLE="margin:0;padding:0;border-width:0;margin-left:63pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iv) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x516c;&#x53f8;&#x7684;&#x6e05;&#x7b97;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Code</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The U.S. Internal Revenue Code of 1986, as amended.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6cd5;&#x5178;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x7ecf;&#x4fee;&#x8ba2;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">1986</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;&#x7684;&#x7f8e;&#x56fd;&#x300a;&#x56fd;&#x5185;&#x7a0e;&#x6536;&#x6cd5;&#x300b;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-2</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(j)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Committee</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The Compensation Committee of the Board.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(j) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x59d4;&#x5458;&#x4f1a;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6307;&#x8463;&#x4e8b;&#x4f1a;&#x7684;&#x85aa;&#x916c;&#x59d4;&#x5458;&#x4f1a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(k)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Company</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. ReTo Eco-Solutions, Inc., a business company incorporated in the British Virgin Islands, or any successor thereto.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(k) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x53f8;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">ReTo Eco-Solutions, Inc.</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff0c;&#x4e00;&#x95f4;&#x5728;&#x82f1;&#x5c5e;&#x7ef4;&#x5c14;&#x4eac;&#x7fa4;&#x5c9b;&#x6ce8;&#x518c;&#x6210;&#x7acb;&#x7684;&#x5546;&#x4e1a;&#x516c;&#x53f8;&#x6216;&#x5176;&#x4efb;&#x4f55;&#x7ee7;&#x4efb;&#x516c;&#x53f8;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(l)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Company Stock</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The common shares of the Company. In the event of a change in the capital structure of the Company (as provided in Section&#x00a0;12 below), the shares resulting from such a change shall be deemed to be Company Stock within the meaning of the Plan.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(l)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x53f8;&#x80a1;&#x7968;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x672c;&#x516c;&#x53f8;&#x7684;&#x666e;&#x901a;&#x80a1;&#x3002;&#x5982;&#x679c;&#x516c;&#x53f8;&#x7684;&#x8d44;&#x672c;&#x7ed3;&#x6784;&#x53d1;&#x751f;&#x53d8;&#x5316;&#xff08;&#x5982;&#x4e0b;&#x6587;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x8282;&#x7684;&#x89c4;&#x5b9a;&#xff09;&#xff0c;&#x7531;&#x8fd9;&#x79cd;&#x53d8;&#x5316;&#x4ea7;&#x751f;&#x7684;&#x80a1;&#x4efd;&#x5e94;&#x88ab;&#x89c6;&#x4e3a;&#x672c;&#x8ba1;&#x5212;&#x610f;&#x4e49;&#x4e0a;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(m)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Consultant</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A consultant or adviser who provides bona fide services to the Company, a parent, or a subsidiary as an independent contractor and who qualifies as a consultant or advisor under Instruction A.1.(a)(1) of Form S-8 under the U.S. Securities Act of 1933, as amended.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(m) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x987e;&#x95ee;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x4f5c;&#x4e3a;&#x72ec;&#x7acb;&#x627f;&#x5305;&#x5546;&#x5411;&#x516c;&#x53f8;&#x3001;&#x6bcd;&#x516c;&#x53f8;&#x6216;&#x5b50;&#x516c;&#x53f8;&#x63d0;&#x4f9b;&#x5b9e;&#x8d28;&#x4e0a;&#x670d;&#x52a1;&#x7684;&#x72ec;&#x7acb;&#x987e;&#x95ee;&#xff0c;&#x4e14;&#x5176;&#x6839;&#x636e;&#x7ecf;&#x4fee;&#x8ba2;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">1933 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;&#x7f8e;&#x56fd;&#x8bc1;&#x5238;&#x6cd5;&#x4e0b;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">Form S-8 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x8bf4;&#x660e;&#x4e2d;&#x7684;&#x9879;&#x76ee;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">A.1. (a)(1) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7b26;&#x5408;&#x987e;&#x95ee;&#x7684;&#x8d44;&#x683c;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(n)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Corporate Change</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A consolidation, merger, dissolution or liquidation of the Company, or a sale or distribution of assets or stock (other than in the ordinary course of business) of the Company; provided that, unless the Committee determines otherwise, a Corporate Change shall only be considered to have occurred with respect to Participants whose business unit is affected by the Corporate Change.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(n)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x53f8;&#x53d8;&#x66f4;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x516c;&#x53f8;&#x7684;&#x5408;&#x5e76;&#x3001;&#x517c;&#x5e76;&#x3001;&#x89e3;&#x6563;&#x6216;&#x6e05;&#x7b97;&#xff0c;&#x6216;&#x516c;&#x53f8;&#x8d44;&#x4ea7;&#x6216;&#x80a1;&#x7968;&#x7684;&#x51fa;&#x552e;&#x6216;&#x5206;&#x914d;&#xff08;&#x9664;&#x6b63;&#x5e38;&#x4e1a;&#x52a1;&#x8fc7;&#x7a0b;&#x5916;&#xff09;&#xff1b;&#x4f46;&#x9664;&#x975e;&#x59d4;&#x5458;&#x4f1a;&#x53e6;&#x6709;&#x51b3;&#x5b9a;&#xff0c;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x5e94;&#x4ec5;&#x88ab;&#x89c6;&#x4e3a;&#x53d1;&#x751f;&#x5728;&#x5176;&#x4e1a;&#x52a1;&#x5355;&#x4f4d;&#x53d7;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x5f71;&#x54cd;&#x7684;&#x53c2;&#x4fdd;&#x8005;&#x8eab;&#x4e0a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(o)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Date of Grant</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The date as of which an Award is made by the Committee.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(o) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6388;&#x4e88;&#x65e5;&#x671f;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6307;&#x59d4;&#x5458;&#x4f1a;&#x4f5c;&#x51fa;&#x5956;&#x52b1;&#x7684;&#x65e5;&#x671f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(p)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Disability or Disabled</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. As to an Incentive Stock Option, a Disability within the meaning of Code Section&#x00a0;22(e)(3). As to all other Awards, the Committee shall determine whether a Disability exists and such determination shall be conclusive.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(p)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6b8b;&#x75be;&#x6216;&#x6b8b;&#x5e9f;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x5bf9;&#x4e8e;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x6765;&#x8bf4;&#xff0c;&#x662f;&#x6307;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">22(e)(3)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x610f;&#x4e49;&#x4e0a;&#x7684;&#x6b8b;&#x75be;&#x3002;&#x5bf9;&#x4e8e;&#x6240;&#x6709;&#x5176;&#x4ed6;&#x5956;&#x52b1;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x51b3;&#x5b9a;&#x662f;&#x5426;&#x5b58;&#x5728;&#x6b8b;&#x75be;&#xff0c;&#x8be5;&#x51b3;&#x5b9a;&#x5e94;&#x662f;&#x7ed3;&#x8bba;&#x6027;&#x7684;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(q)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Fair Market Value</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(q) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i) If Company Stock is traded on a national securities exchange, the average of the highest and lowest registered sales prices of Company Stock (or the closing bid, if no sales were reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5728;&#x56fd;&#x5bb6;&#x8bc1;&#x5238;&#x4ea4;&#x6613;&#x6240;&#x4ea4;&#x6613;&#xff0c;&#x5219;&#x6307;&#x4f9d;&#x636e;&#x534e;&#x5c14;&#x8857;&#x65e5;&#x62a5;&#x6216;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x53ef;&#x9760;&#x7684;&#x5176;&#x4ed6;&#x6765;&#x6e90;&#x62a5;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x544a;&#xff0c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5728;&#x8be5;&#x4ea4;&#x6613;&#x6240;&#x7684;&#x6700;&#x9ad8;&#x548c;&#x6700;&#x4f4e;&#x767b;&#x8bb0;&#x9500;&#x552e;&#x4ef7;&#x683c;&#x7684;&#x5e73;&#x5747;&#x503c;&#xff08;&#x6216;&#x82e5;&#x65e0;&#x9500;&#x552e;&#x65f6;&#xff0c;&#x5219;&#x4ee5;&#x6536;&#x76d8;&#x4e70;&#x4ef7;&#x4e3a;&#x51c6;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii) If Company Stock is traded in the over-the-counter market, the average between the closing bid and asked prices of Company Stock, as reported in The Wall Street Journal or such other source as the Committee deems reliable; or</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5728;&#x573a;&#x5916;&#x5e02;&#x573a;&#x4ea4;&#x6613;&#xff0c;&#x5219;&#x6307;&#x4f9d;&#x636e;&#x534e;&#x5c14;&#x8857;&#x65e5;&#x62a5;&#x6216;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x53ef;&#x9760;&#x7684;&#x5176;&#x4ed6;&#x6765;&#x6e90;&#x62a5;&#x544a;&#xff0c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6536;&#x76d8;&#x4e70;&#x4ef7;&#x548c;&#x5356;&#x4ef7;&#x4e4b;&#x95f4;&#x7684;&#x5e73;&#x5747;&#x503c;&#xff1b;&#x6216;</FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-3</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) If shares of Company Stock are not publicly traded, the Fair Market Value shall be determined by the Committee using any reasonable method in good faith.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6ca1;&#x6709;&#x516c;&#x5f00;&#x4ea4;&#x6613;&#xff0c;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x5e94;&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x4f7f;&#x7528;&#x4efb;&#x4f55;&#x5408;&#x7406;&#x7684;&#x65b9;&#x6cd5;&#x57fa;&#x4e8e;&#x8bda;&#x4fe1;&#x786e;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">Fair Market Value shall be determined as of the applicable date specified in the Plan or, if there are no trades on such date, the value shall be determined as of the last preceding day on which Company Stock is traded.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x5e94;&#x5728;&#x8ba1;&#x5212;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x9002;&#x7528;&#x65e5;&#x671f;&#x786e;&#x5b9a;&#xff0c;&#x5982;&#x679c;&#x8be5;&#x65e5;&#x671f;&#x6ca1;&#x6709;&#x4ea4;&#x6613;&#xff0c;&#x5219;&#x5e94;&#x5728;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x4ea4;&#x6613;&#x7684;&#x524d;&#x4e00;&#x5929;&#x786e;&#x5b9a;&#x4ef7;&#x503c;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(r)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Incentive Stock Option</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. An Option intended to meet the requirements of, and qualify for favorable Federal income tax treatment under, Code Section&#x00a0;422.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(r)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x4e00;&#x79cd;&#x65e8;&#x5728;&#x6ee1;&#x8db3;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">422</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x89c4;&#x5b9a;&#x7684;&#x8981;&#x6c42;&#xff0c;&#x5e76;&#x6709;&#x8d44;&#x683c;&#x83b7;&#x5f97;&#x6709;&#x5229;&#x7684;&#x8054;&#x90a6;&#x6240;&#x5f97;&#x7a0e;&#x5f85;&#x9047;&#x7684;&#x671f;&#x6743;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(s)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Nonstatutory Stock Option</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. An Option that does not meet the requirements of Code Section&#x00a0;422, or that is otherwise not intended to be an Incentive Stock Option and is so designated.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(s)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x4e0d;&#x7b26;&#x5408;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">422</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x8981;&#x6c42;&#x7684;&#x671f;&#x6743;&#xff0c;&#x6216;&#x8005;&#x4e0d;&#x6253;&#x7b97;&#x6210;&#x4e3a;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x5e76;&#x88ab;&#x5982;&#x6b64;&#x6307;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(t)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Option</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A right to purchase Company Stock granted under the Plan, at a price determined in accordance with the Plan.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(t) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x671f;&#x6743;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x8d2d;&#x4e70;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x6743;&#x5229;&#xff0c;&#x5176;&#x4ef7;&#x683c;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x786e;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(u)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Participant</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Any individual who receives an Award under the Plan.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(u) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x53c2;&#x4e0e;&#x8005;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x83b7;&#x5f97;&#x5956;&#x52b1;&#x7684;&#x4efb;&#x4f55;&#x4e2a;&#x4eba;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(v)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Restricted Stock</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Company Stock awarded upon the terms and subject to the restrictions set forth in Section&#x00a0;7 below.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(v) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x4e0b;&#x6587;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">7</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x89c4;&#x5b9a;&#x7684;&#x6761;&#x6b3e;&#x548c;&#x9650;&#x5236;&#x800c;&#x6388;&#x4e88;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(w)&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">10% Shareholder</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A person who owns, directly or indirectly, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate. Indirect ownership of stock shall be determined in accordance with Code Section&#x00a0;424(d).</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(w)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">10%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x7684;&#x80a1;&#x4e1c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x76f4;&#x63a5;&#x6216;&#x95f4;&#x63a5;&#x62e5;&#x6709;&#x7684;&#x80a1;&#x7968;&#x5360;&#x516c;&#x53f8;&#x6216;&#x5173;&#x8054;&#x516c;&#x53f8;&#x6240;&#x6709;&#x7c7b;&#x522b;&#x80a1;&#x7968;&#x603b;&#x6295;&#x7968;&#x6743;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4ee5;&#x4e0a;&#x7684;&#x4eba;&#x3002;&#x95f4;&#x63a5;&#x62e5;&#x6709;&#x7684;&#x80a1;&#x7968;&#x5e94;&#x6839;&#x636e;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">424(d)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x786e;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">3.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">General</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Awards of Options and Restricted Stock may be granted under the Plan. Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">3.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x4e00;&#x822c;&#x60c5;&#x51b5;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x53ef;&#x4ee5;&#x6388;&#x4e88;&#x671f;&#x6743;&#x548c;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x5956;&#x52b1;&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x671f;&#x6743;&#x53ef;&#x4ee5;&#x662f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x6216;&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">4.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Stock</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">4.&#x00a0; </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x80a1;&#x7968;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) Subject to Section&#x00a0;12 of the Plan, there shall be reserved for issuance under the Plan a total of </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5,000,000 </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> unissued shares of Company Stock.</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#xff0c;&#x5e94;&#x4fdd;&#x7559;&#x603b;&#x5171;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5,000,000</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x80a1;&#x672a;&#x53d1;&#x884c;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x4f9b;&#x672c;&#x8ba1;&#x5212;&#x5206;&#x914d;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-4</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) On the first day of each calendar year during the term of the Plan, commencing on January 1, 2023 and continuing until (and including) January 1, 2032, the number of shares of Company Stock available under the Plan shall automatically increase by a number equal to the lesser of (i) </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">% of the total number of shares of Company Stock issued and outstanding on December 31 of the calendar year immediately preceding the date of such increase and (ii) a number of shares of Company Stock determined by the Committee.</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x672c;&#x8ba1;&#x5212;&#x671f;&#x95f4;&#x5185;&#x6bcf;&#x4e2a;&#x65e5;&#x5386;&#x5e74;&#x7684;&#x7b2c;&#x4e00;&#x5929;&#xff0c;&#x4ece;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 2023 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 1 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6708; </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">1 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x65e5;&#x5f00;&#x59cb;&#x5e76;&#x6301;&#x7eed;&#x5230;&#xff08;&#x5305;&#x62ec;&#xff09;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">2032 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5e74;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 1 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6708;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 1 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x65e5;&#xff0c;&#x672c;&#x8ba1;&#x5212;&#x4e0b;&#x53ef;&#x5206;&#x914d;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6570;&#x91cf;&#x5c06;&#x81ea;&#x52a8;&#x589e;&#x52a0;&#x4e0b;&#x5217;&#x6570;&#x91cf;&#x4e2d;&#x8f83;&#x5c11;&#x7684;&#x6570;&#x91cf;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> (i)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x7d27;&#x90bb;&#x589e;&#x52a0;&#x6570;&#x91cf;&#x65e5;&#x671f;&#x7684;&#x524d;&#x4e00;&#x65e5;&#x5386;&#x5e74; </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6708; </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">31 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x65e5;&#x5df2;&#x53d1;&#x884c;&#x548c;&#x6d41;&#x901a;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x603b;&#x6570;&#x7684;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;"> </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">% </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x548c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> (ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x51b3;&#x5b9a;&#x7684;&#x589e;&#x52a0;&#x6570;&#x91cf;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) Shares allocable to Options granted under the Plan that expire or otherwise terminate unexercised and shares that are forfeited pursuant to restrictions on Restricted Stock awarded under the Plan may again be subjected to an Award under this Plan. Shares surrendered by a Participant or retained by the Company (i)&#x00a0;in connection with the exercise of an Option or (ii)&#x00a0;in payment of Applicable Withholding Taxes shall again become available for issuance under the Plan (but such Shares shall not again become available for issuance as Incentive Stock Options).</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x671f;&#x6743;&#x5230;&#x671f;&#x6216;&#x4ee5;&#x5176;&#x4ed6;&#x65b9;&#x5f0f;&#x7ec8;&#x6b62;&#x672a;&#x884c;&#x4f7f;&#x7684;&#x80a1;&#x7968;&#xff0c;&#x4ee5;&#x53ca;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x9650;&#x5236;&#x800c;&#x88ab;&#x6ca1;&#x6536;&#x7684;&#x80a1;&#x7968;&#xff0c;&#x53ef;&#x4ee5;&#x518d;&#x6b21;&#x6210;&#x4e3a;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x5956;&#x52b1;&#x5bf9;&#x8c61;&#x3002;&#x53c2;&#x4e0e;&#x8005;&#x4ea4;&#x51fa;&#x7684;&#x6216;&#x516c;&#x53f8;&#x4fdd;&#x7559;&#x7684;&#x80a1;&#x4efd;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> (i) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x884c;&#x4f7f;&#x671f;&#x6743;&#x6709;&#x5173;&#x7684;&#x6216;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> (ii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7528;&#x4e8e;&#x652f;&#x4ed8;&#x9002;&#x7528;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x6b3e;&#xff0c;&#x5c06;&#x53ef;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x518d;&#x6b21;&#x53d1;&#x884c;&#xff08;&#x4f46;&#x8be5;&#x7b49;&#x80a1;&#x4efd;&#x5c06;&#x4e0d;&#x53ef;&#x518d;&#x7528;&#x4e8e;&#x4f5c;&#x4e3a;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x53d1;&#x884c;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) No more than </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5,000,000</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> shares of Company Stock (subject to adjustment pursuant to Section&#x00a0;12) may be issued under the Plan upon the exercise of Incentive Stock Options.</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x884c;&#x4f7f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x65f6;&#xff0c;&#x4e0d;&#x5f97;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x53d1;&#x884c;&#x8d85;&#x8fc7;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5,000,000</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x80a1;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#xff08;&#x6839;&#x636e;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> 12 </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x8fdb;&#x884c;&#x8c03;&#x6574;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Eligibility</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-3" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">5. </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x8d44;&#x683c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-6" STYLE="margin:0;padding:0;border-width:0;margin-left:21pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) Any employee of, non-employee director of, or Consultant to the Company or its Affiliates is eligible to </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">become a Participant. The Committee shall have the power and complete discretion, as provided in Section&#x00a0;14, to select eligible Participants and to determine for each Participant the terms, conditions and nature of the Award and the number of shares to be allocated as part of the Award; provided, however, that any award made to a member of the Committee must be approved by the Board. The Committee is expressly authorized to make an Award to a Participant conditioned on the surrender for cancellation of an existing Award.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x672c;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x7684;&#x4efb;&#x4f55;&#x96c7;&#x5458;&#x3001;&#x975e;&#x96c7;&#x5458;&#x8463;&#x4e8b;&#x6216;&#x987e;&#x95ee;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5747;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6709;&#x8d44;&#x683c;&#x6210;&#x4e3a;&#x53c2;&#x4e0e;&#x8005;&#x3002;&#x6839;&#x636e;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">14</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x7684;&#x89c4;&#x5b9a;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x6743;&#x529b;&#x548c;&#x5b8c;&#x5168;&#x7684;&#x81ea;&#x7531;&#x88c1;&#x91cf;&#x6743;&#x6765;&#x9009;&#x62e9;&#x5408;&#x683c;&#x7684;&#x53c2;&#x4e0e;&#x8005;&#xff0c;&#x5e76;&#x4e3a;&#x6bcf;&#x4e2a;&#x53c2;&#x4e0e;&#x8005;&#x51b3;&#x5b9a;&#x5956;&#x52b1;&#x7684;&#x6761;&#x6b3e;&#x3001;&#x6761;&#x4ef6;&#x548c;&#x6027;&#x8d28;&#x4ee5;&#x53ca;&#x4f5c;&#x4e3a;&#x5956;&#x52b1;&#x7684;&#x4e00;&#x90e8;&#x5206;&#x5206;&#x914d;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#xff1b;&#x4f46;&#x662f;&#xff0c;&#x5411;&#x59d4;&#x5458;&#x4f1a;&#x6210;&#x5458;&#x4f5c;&#x51fa;&#x7684;&#x4efb;&#x4f55;&#x5956;&#x52b1;&#x5fc5;&#x987b;&#x7531;&#x8463;&#x4e8b;&#x4f1a;&#x6279;&#x51c6;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x88ab;&#x660e;&#x786e;&#x6388;&#x6743;&#x4ee5;&#x4ea4;&#x51fa;&#x73b0;&#x6709;&#x5956;&#x52b1;&#x4e3a;&#x6761;&#x4ef6;&#x5411;&#x53c2;&#x4e0e;&#x8005;&#x4f5c;&#x51fa;&#x5956;&#x52b1;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The grant of an Award shall not obligate the Company to pay an employee any particular amount of remuneration, to continue the employment of the employee after the grant or to make further grants to the employee at any time thereafter.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6388;&#x4e88;&#x5956;&#x52b1;&#x5e76;&#x4e0d;&#x610f;&#x5473;&#x7740;&#x516c;&#x53f8;&#x6709;&#x4e49;&#x52a1;&#x5411;&#x96c7;&#x5458;&#x652f;&#x4ed8;&#x4efb;&#x4f55;&#x7279;&#x5b9a;&#x6570;&#x989d;&#x7684;&#x62a5;&#x916c;&#xff0c;&#x5728;&#x6388;&#x4e88;&#x540e;&#x7ee7;&#x7eed;&#x96c7;&#x7528;&#x96c7;&#x5458;&#x6216;&#x5728;&#x6b64;&#x540e;&#x7684;&#x4efb;&#x4f55;&#x65f6;&#x95f4;&#x5411;&#x96c7;&#x5458;&#x8fdb;&#x4e00;&#x6b65;&#x6388;&#x4e88;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) Non-employee directors and Consultants shall not be eligible to receive the Award of an Incentive Stock Option.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x975e;&#x96c7;&#x5458;&#x8463;&#x4e8b;&#x548c;&#x987e;&#x95ee;&#x6ca1;&#x6709;&#x8d44;&#x683c;&#x83b7;&#x5f97;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x5956;&#x52b1;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-5</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">6.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Stock Options</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">6.&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x80a1;&#x7968;&#x671f;&#x6743;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) Whenever the Committee deems it appropriate to grant Options, notice shall be given to the Participant stating the number of shares for which Options are granted, the exercise price per share, whether the options are Incentive Stock Options or Nonstatutory Stock Options, and the conditions to which the grant and exercise of the Options are subject. This notice, when duly accepted in writing by the Participant, shall become a stock option agreement between the Company and the Participant.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5f53;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5408;&#x6388;&#x4e88;&#x671f;&#x6743;&#x65f6;&#xff0c;&#x5e94;&#x5411;&#x53c2;&#x4e0e;&#x8005;&#x53d1;&#x51fa;&#x901a;&#x77e5;&#xff0c;&#x8bf4;&#x660e;&#x6388;&#x4e88;&#x671f;&#x6743;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#x3001;&#x6bcf;&#x80a1;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x3001;&#x671f;&#x6743;&#x662f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x8fd8;&#x662f;&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;&#xff0c;&#x4ee5;&#x53ca;&#x6388;&#x4e88;&#x548c;&#x884c;&#x4f7f;&#x671f;&#x6743;&#x6240;&#x9700;&#x7684;&#x6761;&#x4ef6;&#x3002;&#x8be5;&#x901a;&#x77e5;&#x4e00;&#x65e6;&#x88ab;&#x53c2;&#x4e0e;&#x8005;&#x6b63;&#x5f0f;&#x4e66;&#x9762;&#x63a5;&#x53d7;&#xff0c;&#x5c06;&#x6210;&#x4e3a;&#x516c;&#x53f8;&#x548c;&#x53c2;&#x4e0e;&#x8005;&#x4e4b;&#x95f4;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The Committee shall establish the exercise price of Options. The exercise price of an Incentive Stock Option shall be not less than 100% of the Fair Market Value of such shares on the Date of Grant, provided that if the Participant is a 10% Shareholder, the exercise price of an Incentive Stock Option shall be not less than 110% of the Fair Market Value of such shares on the Date of Grant.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x786e;&#x5b9a;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x3002;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x5e94;&#x4e0d;&#x4f4e;&#x4e8e;&#x6388;&#x4e88;&#x65e5;&#x671f;&#x8be5;&#x80a1;&#x4efd;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">100%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff0c;&#x4f46;&#x5982;&#x679c;&#x53c2;&#x4e0e;&#x8005;&#x662f;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x80a1;&#x4e1c;&#xff0c;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x5e94;&#x4e0d;&#x4f4e;&#x4e8e;&#x6388;&#x4e88;&#x65e5;&#x671f;&#x8be5;&#x80a1;&#x4efd;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x7684;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">110%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) Options may be exercised in whole or in part at such times as may be specified by the Committee in the Participant&#x2019;s stock option agreement. The Committee may impose such vesting conditions and other requirements as the Committee deems appropriate, and the Committee may include such provisions regarding a Change of Control or Corporate Change as the Committee deems appropriate.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x671f;&#x6743;&#x53ef;&#x5728;&#x59d4;&#x5458;&#x4f1a;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x65f6;&#x95f4;&#x5168;&#x90e8;&#x6216;&#x90e8;&#x5206;&#x884c;&#x4f7f;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x89c4;&#x5b9a;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x5f52;&#x5c5e;&#x6761;&#x4ef6;&#x548c;&#x5176;&#x4ed6;&#x8981;&#x6c42;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x8fd8;&#x53ef;&#x4ee5;&#x5305;&#x62ec;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x5173;&#x4e8e;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x7684;&#x89c4;&#x5b9a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) The Committee shall establish the term of each Option in the Participant&#x2019;s stock option agreement. The term of an Incentive Stock Option shall not be longer than ten years from the Date of Grant, except that an Incentive Stock Option granted to a 10% Shareholder may not have a term in excess of five years. No option may be exercised after the expiration of its term or, except as set forth in the Participant&#x2019;s stock option agreement, after the termination of the Participant&#x2019;s employment. The Committee shall set forth in the Participant&#x2019;s stock option agreement when, and under what circumstances, an Option may be exercised after termination of the Participant&#x2019;s employment or period of service; provided that no Incentive Stock Option may be exercised after (i)&#x00a0;three months from the Participant&#x2019;s termination of employment with the Company for reasons other than Disability or death, or (ii)&#x00a0;one year from the Participant&#x2019;s termination of employment on account of Disability or death. The Committee may, in its sole discretion, amend a previously granted Incentive Stock Option to provide for more liberal exercise provisions, provided however that if the Incentive Stock Option as amended no longer meets the requirements of Code Section&#x00a0;422, and, as a result the Option no longer qualifies for favorable federal income tax treatment under Code Section&#x00a0;422, the amendment shall not become effective without the written consent of the Participant.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#x6bcf;&#x4e2a;&#x671f;&#x6743;&#x7684;&#x671f;&#x9650;&#x3002;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x671f;&#x9650;&#x4ece;&#x6388;&#x4e88;&#x65e5;&#x671f;&#x5f00;&#x59cb;&#x4e0d;&#x5f97;&#x8d85;&#x8fc7;&#x5341;&#x5e74;&#xff0c;&#x4f46;&#x6388;&#x4e88;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10%</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7684;&#x80a1;&#x4e1c;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x671f;&#x9650;&#x4e0d;&#x5f97;&#x8d85;&#x8fc7;&#x4e94;&#x5e74;&#x3002;&#x4efb;&#x4f55;&#x671f;&#x6743;&#x90fd;&#x4e0d;&#x5f97;&#x5728;&#x5176;&#x671f;&#x9650;&#x5c4a;&#x6ee1;&#x540e;&#x884c;&#x4f7f;&#xff0c;&#x6216;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x5c31;&#x4e1a;&#x7ec8;&#x6b62;&#x540e;&#x884c;&#x4f7f;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#xff0c;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x5c31;&#x4e1a;&#x6216;&#x670d;&#x52a1;&#x671f;&#x7ec8;&#x6b62;&#x540e;&#xff0c;&#x4f55;&#x65f6;&#x4ee5;&#x53ca;&#x5728;&#x4f55;&#x79cd;&#x60c5;&#x51b5;&#x4e0b;&#x53ef;&#x4ee5;&#x884c;&#x4f7f;&#x671f;&#x6743;&#xff1b;&#x4f46;&#x5728;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x56e0;&#x6b8b;&#x75be;&#x6216;&#x6b7b;&#x4ea1;&#x4ee5;&#x5916;&#x7684;&#x539f;&#x56e0;&#x4e0e;&#x516c;&#x53f8;&#x7ec8;&#x6b62;&#x5c31;&#x4e1a;&#x4e09;&#x4e2a;&#x6708;&#x540e;&#xff0c;&#x6216;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x56e0;&#x6b8b;&#x75be;&#x6216;&#x6b7b;&#x4ea1;&#x800c;&#x7ec8;&#x6b62;&#x5c31;&#x4e1a;&#x4e00;&#x5e74;&#x540e;&#xff0c;&#x4e0d;&#x5f97;&#x884c;&#x4f7f;&#x5956;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x81ea;&#x884c;&#x51b3;&#x5b9a;&#x4fee;&#x6539;&#x4ee5;&#x524d;&#x6388;&#x4e88;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#xff0c;&#x4ee5;&#x89c4;&#x5b9a;&#x66f4;&#x5bbd;&#x677e;&#x7684;&#x884c;&#x4f7f;&#x6761;&#x6b3e;&#xff0c;&#x4f46;&#x662f;&#xff0c;&#x5982;&#x679c;&#x4fee;&#x6539;&#x540e;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x4e0d;&#x518d;&#x7b26;&#x5408;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">422</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x7684;&#x8981;&#x6c42;&#xff0c;&#x56e0;&#x6b64;&#xff0c;&#x8be5;&#x671f;&#x6743;&#x4e0d;&#x518d;&#x7b26;&#x5408;&#x6cd5;&#x5178;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">422</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x89c4;&#x5b9a;&#x7684;&#x6709;&#x5229;&#x7684;&#x8054;&#x90a6;&#x6240;&#x5f97;&#x7a0e;&#x5f85;&#x9047;&#xff0c;&#x5219;&#x672a;&#x7ecf;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x4e66;&#x9762;&#x540c;&#x610f;&#xff0c;&#x8be5;&#x4fee;&#x6539;&#x4e0d;&#x5f97;&#x751f;&#x6548;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-6</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e) An Incentive Stock Option, by its terms, shall be exercisable in any calendar year only to the extent that the aggregate Fair Market Value (determined at the Date of Grant) of Company Stock with respect to which Incentive Stock Options are exercisable by the Participant for the first time during the calendar year does not exceed $100,000 (the &#x201c;Limitation Amount&#x201d;). Incentive Stock Options granted under the Plan and all other plans of the Company and any parent or subsidiary of the Company shall be aggregated for purposes of determining whether the Limitation Amount has been exceeded. The Committee may impose such conditions as it deems appropriate on an Incentive Stock Option to ensure that the foregoing requirement is met. If Incentive Stock Options that first become exercisable in a calendar year exceed the Limitation Amount, the excess Options will be treated as Nonstatutory Stock Options to the extent permitted by law.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6839;&#x636e;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x6761;&#x6b3e;&#xff0c;&#x5728;&#x4efb;&#x4f55;&#x4e00;&#x4e2a;&#x65e5;&#x5386;&#x5e74;&#x4e2d;&#xff0c;&#x53ea;&#x6709;&#x5f53;&#x53c2;&#x4e0e;&#x8005;&#x5728;&#x8be5;&#x65e5;&#x5386;&#x5e74;&#x4e2d;&#x9996;&#x6b21;&#x884c;&#x4f7f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x6240;&#x6d89;&#x53ca;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#xff08;&#x5728;&#x6388;&#x4e88;&#x65e5;&#x671f;&#x786e;&#x5b9a;&#xff09;&#x603b;&#x989d;&#x4e0d;&#x8d85;&#x8fc7;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">100,000</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7f8e;&#x5143;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x9650;&#x5236;&#x91d1;&#x989d;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x65f6;&#xff0c;&#x624d;&#x53ef;&#x4ee5;&#x884c;&#x4f7f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x672c;&#x516c;&#x53f8;&#x53ca;&#x672c;&#x516c;&#x53f8;&#x4efb;&#x4f55;&#x6bcd;&#x516c;&#x53f8;&#x6216;&#x5b50;&#x516c;&#x53f8;&#x7684;&#x6240;&#x6709;&#x5176;&#x4ed6;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x5e94;&#x5408;&#x5e76;&#x8ba1;&#x7b97;&#xff0c;&#x4ee5;&#x786e;&#x5b9a;&#x662f;&#x5426;&#x5df2;&#x8d85;&#x8fc7;&#x9650;&#x5236;&#x91d1;&#x989d;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5bf9;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x65bd;&#x52a0;&#x5176;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x6761;&#x4ef6;&#xff0c;&#x4ee5;&#x786e;&#x4fdd;&#x6ee1;&#x8db3;&#x4e0a;&#x8ff0;&#x8981;&#x6c42;&#x3002;&#x5982;&#x679c;&#x5728;&#x4e00;&#x4e2a;&#x65e5;&#x5386;&#x5e74;&#x5185;&#x9996;&#x6b21;&#x53ef;&#x884c;&#x4f7f;&#x7684;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x8d85;&#x8fc7;&#x4e86;&#x9650;&#x5236;&#x91d1;&#x989d;&#xff0c;&#x5728;&#x6cd5;&#x5f8b;&#x5141;&#x8bb8;&#x7684;&#x8303;&#x56f4;&#x5185;&#xff0c;&#x8d85;&#x51fa;&#x7684;&#x671f;&#x6743;&#x5c06;&#x88ab;&#x89c6;&#x4e3a;&#x975e;&#x6cd5;&#x5b9a;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(f) If a Participant dies and if the Participant&#x2019;s stock option agreement provides that part or all of the Option may be exercised after the Participant&#x2019;s death, then such portion may be exercised by the personal representative of the Participant&#x2019;s estate during the time period specified in the stock option agreement.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(f)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x53c2;&#x4e0e;&#x8005;&#x6b7b;&#x4ea1;&#xff0c;&#x4e14;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x89c4;&#x5b9a;&#x90e8;&#x5206;&#x6216;&#x5168;&#x90e8;&#x671f;&#x6743;&#x53ef;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x6b7b;&#x4ea1;&#x540e;&#x884c;&#x4f7f;&#xff0c;&#x5219;&#x8be5;&#x90e8;&#x5206;&#x671f;&#x6743;&#x53ef;&#x7531;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x9057;&#x4ea7;&#x4ee3;&#x7406;&#x4eba;&#x5728;&#x80a1;&#x7968;&#x671f;&#x6743;&#x534f;&#x8bae;&#x89c4;&#x5b9a;&#x7684;&#x65f6;&#x95f4;&#x6bb5;&#x5185;&#x4e88;&#x4ee5;&#x884c;&#x4f7f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(g) If a Participant&#x2019;s employment or services is terminated by the Company for Cause, the Participant&#x2019;s Options shall terminate as of the date of the misconduct.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(g) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x5c31;&#x4e1a;&#x6216;&#x670d;&#x52a1;&#x56e0;&#x6545;&#x88ab;&#x516c;&#x53f8;&#x7ec8;&#x6b62;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x671f;&#x6743;&#x5e94;&#x5728;&#x4e0d;&#x5f53;&#x884c;&#x4e3a;&#x53d1;&#x751f;&#x4e4b;&#x65e5;&#x7ec8;&#x6b62;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">7.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Restricted Stock Awards</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">7. </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5956;&#x52b1;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) Whenever the Committee deems it appropriate to grant a Restricted Stock Award, notice shall be given to the Participant stating the number of shares of Restricted Stock for which the Award is granted and the terms and conditions to which the Award is subject. This notice, when accepted in writing by the Participant, shall become an Award agreement between the Company and the Participant. Certificates representing the shares shall be issued in the name of the Participant, subject to the restrictions imposed by the Plan and the Committee. A Restricted Stock Award may be made by the Committee in its discretion without cash consideration.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53ea;&#x8981;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x6388;&#x4e88;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5956;&#x52b1;&#x662f;&#x5408;&#x9002;&#x7684;&#xff0c;&#x5c31;&#x5e94;&#x5411;&#x53c2;&#x4e0e;&#x8005;&#x53d1;&#x51fa;&#x901a;&#x77e5;&#xff0c;&#x8bf4;&#x660e;&#x6388;&#x4e88;&#x5956;&#x52b1;&#x7684;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x6570;&#x91cf;&#x4ee5;&#x53ca;&#x5956;&#x52b1;&#x7684;&#x6761;&#x6b3e;&#x548c;&#x6761;&#x4ef6;&#x3002;&#x8be5;&#x901a;&#x77e5;&#x5728;&#x88ab;&#x53c2;&#x4e0e;&#x8005;&#x4e66;&#x9762;&#x63a5;&#x53d7;&#x540e;&#xff0c;&#x5e94;&#x6210;&#x4e3a;&#x516c;&#x53f8;&#x4e0e;&#x53c2;&#x4e0e;&#x8005;&#x4e4b;&#x95f4;&#x7684;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x3002;&#x4ee3;&#x8868;&#x80a1;&#x7968;&#x7684;&#x8bc1;&#x4e66;&#x5e94;&#x4ee5;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x540d;&#x4e49;&#x53d1;&#x884c;&#xff0c;&#x4f46;&#x987b;&#x9075;&#x5b88;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x9650;&#x5236;&#x89c4;&#x5b9a;&#x3002;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5956;&#x52b1;&#x53ef;&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x81ea;&#x884c;&#x51b3;&#x5b9a;&#xff0c;&#x4e0d;&#x9700;&#x8981;&#x73b0;&#x91d1;&#x8865;&#x507f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The Committee may place such restrictions on the transferability and vesting of Restricted Stock as the Committee deems appropriate, including restrictions relating to continued employment and financial performance goals. Without limiting the foregoing, the Committee may provide performance or Change of Control or Corporate Change acceleration parameters under which all, or a portion, of the Restricted Stock will vest on the Company&#x2019;s achievement of established performance objectives. Restricted Stock may not be sold, assigned, transferred, disposed of, pledged, hypothecated or otherwise encumbered until the restrictions on such shares shall have lapsed or shall have been removed pursuant to subsection (c)&#x00a0;below.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5bf9;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x53ef;&#x8f6c;&#x8ba9;&#x6027;&#x548c;&#x5f52;&#x5c5e;&#x505a;&#x51fa;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x9650;&#x5236;&#xff0c;&#x5305;&#x62ec;&#x4e0e;&#x6301;&#x7eed;&#x96c7;&#x4f63;&#x548c;&#x8d22;&#x52a1;&#x4e1a;&#x7ee9;&#x76ee;&#x6807;&#x6709;&#x5173;&#x7684;&#x9650;&#x5236;&#x3002;&#x5728;&#x4e0d;&#x9650;&#x5236;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x63d0;&#x4f9b;&#x4e1a;&#x7ee9;&#x6216;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x52a0;&#x901f;&#x53c2;&#x6570;&#xff0c;&#x6839;&#x636e;&#x8fd9;&#x4e9b;&#x53c2;&#x6570;&#xff0c;&#x6240;&#x6709;&#x6216;&#x90e8;&#x5206;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5c06;&#x5728;&#x516c;&#x53f8;&#x5b9e;&#x73b0;&#x65e2;&#x5b9a;&#x4e1a;&#x7ee9;&#x76ee;&#x6807;&#x540e;&#x5f52;&#x5c5e;&#x3002;&#x5728;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x9650;&#x5236;&#x5931;&#x6548;&#x6216;&#x6839;&#x636e;&#x4e0b;&#x6587;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6b3e;&#x53d6;&#x6d88;&#x9650;&#x5236;&#x4e4b;&#x524d;&#xff0c;&#x4e0d;&#x5f97;&#x51fa;&#x552e;&#x3001;&#x8f6c;&#x8ba9;&#x3001;&#x8f6c;&#x79fb;&#x3001;&#x5904;&#x7f6e;&#x3001;&#x8d28;&#x62bc;&#x3001;&#x62b5;&#x62bc;&#x6216;&#x4ee5;&#x5176;&#x4ed6;&#x65b9;&#x5f0f;&#x8bbe;&#x7f6e;&#x6743;&#x5229;&#x8d1f;&#x62c5;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-7</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) The Committee may provide in a Restricted Stock Award, or subsequently, that the restrictions will lapse if a Change of Control or Corporate Change occurs. The Committee may at any time, in its sole discretion, accelerate the time at which any or all restrictions will lapse or may remove restrictions on Restricted Stock as it deems appropriate.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5728;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5956;&#x52b1;&#x4e2d;&#x6216;&#x968f;&#x540e;&#x89c4;&#x5b9a;&#xff0c;&#x5982;&#x679c;&#x53d1;&#x751f;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#xff0c;&#x9650;&#x5236;&#x5c06;&#x5931;&#x6548;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5728;&#x4efb;&#x4f55;&#x65f6;&#x5019;&#x81ea;&#x884c;&#x51b3;&#x5b9a;&#x52a0;&#x5feb;&#x4efb;&#x4f55;&#x6216;&#x6240;&#x6709;&#x9650;&#x5236;&#x7684;&#x5931;&#x6548;&#x65f6;&#x95f4;&#xff0c;&#x6216;&#x5728;&#x5176;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x65f6;&#x5019;&#x53d6;&#x6d88;&#x5bf9;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x9650;&#x5236;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) A Participant shall hold shares of Restricted Stock subject to the restrictions set forth in the Award agreement and in the Plan. In other respects, the Participant shall have all the rights of a shareholder with respect to the shares of Restricted Stock, including, but not limited to, the right to vote such shares and the right to receive all cash dividends and other distributions paid thereon. Certificates representing Restricted Stock shall bear a legend referring to the restrictions set forth in the Plan and the Participant&#x2019;s Award agreement. If stock dividends are declared on Restricted Stock, such stock dividends or other distributions shall be subject to the same restrictions as the underlying shares of Restricted Stock</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6301;&#x6709;&#x7684;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x5e94;&#x53d7;&#x5230;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x548c;&#x8ba1;&#x5212;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x9650;&#x5236;&#x3002;&#x5728;&#x5176;&#x4ed6;&#x65b9;&#x9762;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x5bf9;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x4eab;&#x6709;&#x80a1;&#x4e1c;&#x7684;&#x6240;&#x6709;&#x6743;&#x5229;&#xff0c;&#x5305;&#x62ec;&#x4f46;&#x4e0d;&#x9650;&#x4e8e;&#x6295;&#x7968;&#x6743;&#x548c;&#x6536;&#x53d6;&#x6240;&#x6709;&#x73b0;&#x91d1;&#x80a1;&#x606f;&#x548c;&#x5176;&#x4ed6;&#x5206;&#x914d;&#x6b3e;&#x7684;&#x6743;&#x5229;&#x3002;&#x4ee3;&#x8868;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x7684;&#x8bc1;&#x4e66;&#x5e94;&#x5e26;&#x6709;&#x4e00;&#x4e2a;&#x8bf4;&#x660e;&#xff0c;&#x63d0;&#x53ca;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x53c2;&#x4e0e;&#x8005;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x4e2d;&#x89c4;&#x5b9a;&#x7684;&#x9650;&#x5236;&#x3002;&#x5982;&#x679c;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x88ab;&#x5ba3;&#x5e03;&#x6d3e;&#x53d1;&#x80a1;&#x7968;&#x7ea2;&#x5229;&#xff0c;&#x8fd9;&#x79cd;&#x80a1;&#x7968;&#x7ea2;&#x5229;&#x6216;&#x5176;&#x4ed6;&#x5206;&#x914d;&#x5e94;&#x53d7;&#x5230;&#x4e0e;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x76f8;&#x5173;&#x80a1;&#x4efd;&#x76f8;&#x540c;&#x7684;&#x9650;&#x5236;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">8.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Method of Exercise of Options</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Options may be exercised by giving written notice of the exercise to the Company, stating the number of shares the Participant has elected to purchase under the Option. Such notice shall be effective only if accompanied by the exercise price in full in cash; provided that, if the terms of an Option so permit, the Participant may (i)&#x00a0;deliver Company Stock that the Participant has owned for at least six months (valued at Fair Market Value on the date of exercise), or (ii)&#x00a0;exercise any applicable net exercise provision contained therein. Unless otherwise specifically provided in the Option, any payment of the exercise price paid by delivery of Company Stock acquired directly or indirectly from the Company shall be paid only with shares of Company Stock that have been held by the Participant for more than six months (or such longer or shorter period of time required to avoid a charge to earnings for financial accounting purposes).</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">8.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x884c;&#x4f7f;&#x671f;&#x6743;&#x7684;&#x65b9;&#x6cd5;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x53ef;&#x4ee5;&#x901a;&#x8fc7;&#x5411;&#x516c;&#x53f8;&#x53d1;&#x51fa;&#x4e66;&#x9762;&#x884c;&#x4f7f;&#x901a;&#x77e5;&#x6765;&#x884c;&#x4f7f;&#x671f;&#x6743;&#xff0c;&#x5e76;&#x8bf4;&#x660e;&#x53c2;&#x4e0e;&#x8005;&#x9009;&#x62e9;&#x6839;&#x636e;&#x671f;&#x6743;&#x8d2d;&#x4e70;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#x3002;&#x8be5;&#x901a;&#x77e5;&#x53ea;&#x6709;&#x5728;&#x9644;&#x6709;&#x5168;&#x989d;&#x73b0;&#x91d1;&#x884c;&#x4f7f;&#x4ef7;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#x624d;&#x6709;&#x6548;&#xff1b;&#x4f46;&#x662f;&#xff0c;&#x5982;&#x679c;&#x671f;&#x6743;&#x7684;&#x6761;&#x6b3e;&#x5141;&#x8bb8;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x53ef;&#x4ee5;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4ea4;&#x4ed8;&#x53c2;&#x4e0e;&#x8005;&#x5df2;&#x7ecf;&#x62e5;&#x6709;&#x81f3;&#x5c11;&#x516d;&#x4e2a;&#x6708;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#xff08;&#x6309;&#x884c;&#x4f7f;&#x65e5;&#x7684;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x4f30;&#x503c;&#xff09;&#xff0c;&#x6216;&#x8005;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x884c;&#x4f7f;&#x5176;&#x4e2d;&#x5305;&#x542b;&#x7684;&#x4efb;&#x4f55;&#x9002;&#x7528;&#x7684;&#x51c0;&#x884c;&#x4f7f;&#x6761;&#x6b3e;&#x3002;&#x9664;&#x975e;&#x671f;&#x6743;&#x4e2d;&#x53e6;&#x6709;&#x7279;&#x522b;&#x89c4;&#x5b9a;&#xff0c;&#x4efb;&#x4f55;&#x901a;&#x8fc7;&#x4ea4;&#x4ed8;&#x76f4;&#x63a5;&#x6216;&#x95f4;&#x63a5;&#x4ece;&#x516c;&#x53f8;&#x83b7;&#x5f97;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6765;&#x652f;&#x4ed8;&#x7684;&#x884c;&#x6743;&#x4ef7;&#x6b3e;&#xff0c;&#x53ea;&#x80fd;&#x7528;&#x53c2;&#x4e0e;&#x8005;&#x5df2;&#x6301;&#x6709;&#x516d;&#x4e2a;&#x6708;&#x4ee5;&#x4e0a;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6765;&#x652f;&#x4ed8;&#xff08;&#x6216;&#x4e3a;&#x907f;&#x514d;&#x5728;&#x8d22;&#x52a1;&#x4f1a;&#x8ba1;&#x4e2d;&#x8ba1;&#x5165;&#x6536;&#x76ca;&#x800c;&#x9700;&#x8981;&#x7684;&#x66f4;&#x957f;&#x6216;&#x66f4;&#x77ed;&#x7684;&#x65f6;&#x95f4;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">9.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Applicable Withholding Taxes</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Each Participant shall agree, as a condition of receiving an Award, to pay to the Company or its Affiliate, or make arrangements satisfactory to the Company regarding the payment of, all Applicable Withholding Taxes with respect to the Award. Until the Applicable Withholding Taxes have been paid or arrangements satisfactory to the Company have been made, no stock certificates (or, in the case of Restricted Stock, no stock certificates free of a restrictive legend) shall be issued to the Participant. As an alternative to making a cash payment to the Company to satisfy Applicable Withholding Tax obligations, the Committee may establish procedures permitting the Participant to elect to (a)&#x00a0;deliver shares of already owned Company Stock (subject to such restrictions as the Committee may establish, including a requirement that any shares of Company Stock so delivered shall have been held by the Participant for not less than six months) or (b)&#x00a0;have the Company retain that number of shares of Company Stock that would satisfy all or a specified portion of the Applicable Withholding Taxes. Any such election shall be made only in accordance with procedures established by the Committee.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">9.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x9002;&#x7528;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x6b3e;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x4f5c;&#x4e3a;&#x9886;&#x53d6;&#x5956;&#x52b1;&#x7684;&#x4e00;&#x4e2a;&#x6761;&#x4ef6;&#xff0c;&#x6bcf;&#x4e2a;&#x53c2;&#x4e0e;&#x8005;&#x5e94;&#x540c;&#x610f;&#x5411;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x652f;&#x4ed8;&#xff0c;&#x6216;&#x4f5c;&#x51fa;&#x4ee4;&#x516c;&#x53f8;&#x6ee1;&#x610f;&#x7684;&#x5b89;&#x6392;&#xff0c;&#x652f;&#x4ed8;&#x4e0e;&#x5956;&#x52b1;&#x6709;&#x5173;&#x7684;&#x6240;&#x6709;&#x9002;&#x7528;&#x9884;&#x6263;&#x7a0e;&#x6b3e;&#x3002;&#x5728;&#x652f;&#x4ed8;&#x9002;&#x7528;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x6b3e;&#x6216;&#x505a;&#x51fa;&#x4ee4;&#x516c;&#x53f8;&#x6ee1;&#x610f;&#x7684;&#x5b89;&#x6392;&#x4e4b;&#x524d;&#xff0c;&#x4e0d;&#x5f97;&#x5411;&#x53c2;&#x4e0e;&#x8005;&#x53d1;&#x653e;&#x80a1;&#x7968;&#xff08;&#x5982;&#x679c;&#x662f;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#xff0c;&#x5219;&#x4e0d;&#x5f97;&#x53d1;&#x653e;&#x4e0d;&#x542b;&#x9650;&#x5236;&#x6027;&#x6807;&#x5fd7;&#x7684;&#x80a1;&#x7968;&#xff09;&#x3002;&#x4f5c;&#x4e3a;&#x5411;&#x516c;&#x53f8;&#x652f;&#x4ed8;&#x73b0;&#x91d1;&#x4ee5;&#x5c65;&#x884c;&#x9884;&#x6263;&#x7a0e;&#x4e49;&#x52a1;&#x7684;&#x66ff;&#x4ee3;&#x65b9;&#x6848;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5236;&#x5b9a;&#x7a0b;&#x5e8f;&#xff0c;&#x5141;&#x8bb8;&#x53c2;&#x4e0e;&#x8005;&#x9009;&#x62e9;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4ea4;&#x4ed8;&#x5df2;&#x7ecf;&#x62e5;&#x6709;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#xff08;&#x53d7;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x80fd;&#x5236;&#x5b9a;&#x7684;&#x9650;&#x5236;&#xff0c;&#x5305;&#x62ec;&#x8981;&#x6c42;&#x5982;&#x6b64;&#x4ea4;&#x4ed8;&#x7684;&#x4efb;&#x4f55;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5e94;&#x88ab;&#x53c2;&#x4e0e;&#x8005;&#x6301;&#x6709;&#x4e0d;&#x5c11;&#x4e8e;&#x516d;&#x4e2a;&#x6708;&#xff09;&#x6216;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7531;&#x516c;&#x53f8;&#x4fdd;&#x7559;&#x4e00;&#x5b9a;&#x6570;&#x91cf;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#xff0c;&#x4ee5;&#x6ee1;&#x8db3;&#x5168;&#x90e8;&#x6216;&#x7279;&#x5b9a;&#x90e8;&#x5206;&#x7684;&#x9884;&#x6263;&#x7a0e;&#x3002;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x9009;&#x62e9;&#x53ea;&#x80fd;&#x6839;&#x636e;&#x59d4;&#x5458;&#x4f1a;&#x5236;&#x5b9a;&#x7684;&#x7a0b;&#x5e8f;&#x8fdb;&#x884c;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-8</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Nontransferability of Awards</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">10. </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x5956;&#x52b1;&#x7684;&#x4e0d;&#x53ef;&#x8f6c;&#x8ba9;&#x6027;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) In general, Awards, by their terms, shall not be transferable by the Participant except by will or by the laws of descent and distribution or except as described below. Options shall be exercisable, during the Participant&#x2019;s lifetime, only by the Participant or by his guardian or legal representative.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e00;&#x822c;&#x6765;&#x8bf4;&#xff0c;&#x6839;&#x636e;&#x5176;&#x6761;&#x6b3e;&#xff0c;&#x9664;&#x975e;&#x6709;&#x9057;&#x5631;&#x6216;&#x6839;&#x636e;&#x4e16;&#x88ad;&#x548c;&#x5206;&#x914d;&#x6cd5;&#xff0c;&#x6216;&#x5982;&#x4e0b;&#x6240;&#x8ff0;&#xff0c;&#x5426;&#x5219;&#x53c2;&#x4e0e;&#x8005;&#x4e0d;&#x5f97;&#x8f6c;&#x8ba9;&#x5956;&#x52b1;&#x3002;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x751f;&#x524d;&#xff0c;&#x671f;&#x6743;&#x53ea;&#x80fd;&#x7531;&#x53c2;&#x4e0e;&#x8005;&#x6216;&#x5176;&#x76d1;&#x62a4;&#x4eba;&#x6216;&#x6cd5;&#x5b9a;&#x4ee3;&#x8868;&#x4eba;&#x884c;&#x4f7f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) Notwithstanding the provisions of (a)&#x00a0;and subject to federal and state securities laws, the Committee may grant Nonstatutory Stock Options that permit a Participant to transfer the Options to one or more immediate family members, to a trust for the benefit of immediate family members, or to a partnership, limited liability company, or other entity the only partners, members, or interest-holders of which are among the Participant&#x2019;s immediate family members. Consideration may not be paid for the transfer of Options. The transferee of an Option shall be subject to all conditions applicable to the Option prior to its transfer. The agreement granting the Option shall set forth the transfer conditions and restrictions. The Committee may impose on any transferable Option and on stock issued upon the exercise of an Option such limitations and conditions as the Committee deems appropriate.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5c3d;&#x7ba1;&#x6709;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x9879;&#x7684;&#x89c4;&#x5b9a;&#xff0c;&#x5728;&#x9075;&#x5b88;&#x8054;&#x90a6;&#x548c;&#x5dde;&#x8bc1;&#x5238;&#x6cd5;&#x7684;&#x524d;&#x63d0;&#x4e0b;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x6388;&#x4e88;&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;&#xff0c;&#x5141;&#x8bb8;&#x53c2;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x8005;&#x5c06;&#x671f;&#x6743;&#x8f6c;&#x8ba9;&#x7ed9;&#x4e00;&#x4e2a;&#x6216;&#x591a;&#x4e2a;&#x76f4;&#x7cfb;&#x4eb2;&#x5c5e;&#x3001;&#x4e3a;&#x76f4;&#x7cfb;&#x4eb2;&#x5c5e;&#x5229;&#x76ca;&#x800c;&#x8bbe;&#x7acb;&#x7684;&#x4fe1;&#x6258;&#x57fa;&#x91d1;&#x3001;&#x6216;&#x5408;&#x4f5c;&#x4f19;&#x4f34;&#x3001;&#x6709;&#x9650;&#x8d23;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4efb;&#x516c;&#x53f8;&#x3001;&#x6216;&#x5176;&#x4ed6;&#x5b9e;&#x4f53;&#xff08;&#x5176;&#x552f;&#x4e00;&#x7684;&#x5408;&#x4f5c;&#x4f19;&#x4f34;&#x3001;&#x6210;&#x5458;&#x6216;&#x5229;&#x76ca;&#x6301;&#x6709;&#x4eba;&#x662f;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x76f4;&#x7cfb;&#x4eb2;&#x5c5e;&#xff09;&#x3002;&#x5728;&#x8f6c;&#x8ba9;&#x671f;&#x6743;&#x65f6;&#xff0c;&#x4e0d;&#x5f97;&#x652f;&#x4ed8;&#x5bf9;&#x4ef7;&#x3002;&#x671f;&#x6743;&#x7684;&#x53d7;&#x8ba9;&#x4eba;&#x5728;&#x8f6c;&#x8ba9;&#x524d;&#x5e94;&#x53d7;&#x5236;&#x4e8e;&#x6240;&#x6709;&#x9002;&#x7528;&#x4e8e;&#x8be5;&#x671f;&#x6743;&#x7684;&#x6761;&#x4ef6;&#x3002;&#x6388;&#x4e88;&#x671f;&#x6743;&#x7684;&#x534f;&#x8bae;&#x5e94;&#x89c4;&#x5b9a;&#x8f6c;&#x8ba9;&#x6761;&#x4ef6;&#x548c;&#x9650;&#x5236;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x5bf9;&#x4efb;&#x4f55;&#x53ef;&#x8f6c;&#x8ba9;&#x7684;&#x671f;&#x6743;&#x548c;&#x56e0;&#x884c;&#x4f7f;&#x671f;&#x6743;&#x800c;&#x53d1;&#x884c;&#x7684;&#x80a1;&#x7968;&#x65bd;&#x52a0;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x5408;&#x9002;&#x7684;&#x9650;&#x5236;&#x548c;&#x6761;&#x4ef6;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">11.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Termination, Modification, Change</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. If not sooner terminated by the Board, this Plan shall terminate at the close of business on the tenth anniversary of the Effective Date. No Awards shall be made under the Plan after its termination. The Board may terminate the Plan or may amend the Plan in such respects as it shall deem advisable; provided that, no change shall be made that increases the total number of shares of Company Stock reserved for issuance pursuant to Awards granted under the Plan (except pursuant to Section&#x00a0;12), expands the class of persons eligible to receive Awards, or materially increases the benefits accruing to Participants under the Plan, unless such change is authorized by the shareholders of the Company. Notwithstanding the foregoing, the Board may unilaterally amend the Plan and Awards as it deems appropriate to cause Incentive Stock Options to meet the requirements of the Code and regulations thereunder. Except as provided in the preceding sentence, a termination or amendment of the Plan shall not, without the consent of the Participant, materially and adversely affect a Participant&#x2019;s rights under an Award previously granted to him.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">11.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x7ec8;&#x6b62;&#x3001;&#x4fee;&#x6539;&#x3001;&#x53d8;&#x66f4;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x5982;&#x679c;&#x8463;&#x4e8b;&#x4f1a;&#x4e0d;&#x63d0;&#x524d;&#x7ec8;&#x6b62;&#xff0c;&#x672c;&#x8ba1;&#x5212;&#x5e94;&#x5728;&#x751f;&#x6548;&#x65e5;&#x671f;&#x5341;&#x5468;&#x5e74;&#x7684;&#x8425;&#x4e1a;&#x7ed3;&#x675f;&#x65f6;&#x7ec8;&#x6b62;&#x3002;&#x5728;&#x672c;&#x8ba1;&#x5212;&#x7ec8;&#x6b62;&#x540e;&#xff0c;&#x4e0d;&#x5f97;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x8fdb;&#x884c;&#x5956;&#x52b1;&#x3002;&#x8463;&#x4e8b;&#x4f1a;&#x53ef;&#x4ee5;&#x7ec8;&#x6b62;&#x672c;&#x8ba1;&#x5212;&#xff0c;&#x4e5f;&#x53ef;&#x4ee5;&#x5728;&#x5176;&#x8ba4;&#x4e3a;&#x5408;&#x9002;&#x7684;&#x65b9;&#x9762;&#x4fee;&#x6539;&#x672c;&#x8ba1;&#x5212;&#xff1b;&#x4f46;&#x4e0d;&#x5f97;&#x505a;&#x51fa;&#x4efb;&#x4f55;&#x6539;&#x53d8;&#x4ee5;&#x589e;&#x52a0;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#x6240;&#x4fdd;&#x7559;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x603b;&#x6570;&#xff08;&#x6839;&#x636e;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x9664;&#x5916;&#xff09;&#xff0c;&#x6269;&#x5927;&#x6709;&#x8d44;&#x683c;&#x83b7;&#x5f97;&#x5956;&#x52b1;&#x7684;&#x4eba;&#x5458;&#x7c7b;&#x522b;&#xff0c;&#x6216;&#x5927;&#x5e45;&#x589e;&#x52a0;&#x53c2;&#x4e0e;&#x8005;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x5e94;&#x5f97;&#x7684;&#x5229;&#x76ca;&#xff0c;&#x9664;&#x975e;&#x8fd9;&#x79cd;&#x6539;&#x53d8;&#x5f97;&#x5230;&#x516c;&#x53f8;&#x80a1;&#x4e1c;&#x6388;&#x6743;&#x3002;&#x5c3d;&#x7ba1;&#x6709;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#xff0c;&#x8463;&#x4e8b;&#x4f1a;&#x53ef;&#x4ee5;&#x5728;&#x5176;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#x5355;&#x65b9;&#x9762;&#x4fee;&#x6539;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x5956;&#x52b1;&#xff0c;&#x4ee5;&#x4f7f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7b26;&#x5408;&#x7f8e;&#x56fd;&#x6cd5;&#x5178;&#x53ca;&#x5176;&#x89c4;&#x5b9a;&#x7684;&#x8981;&#x6c42;&#x3002;&#x9664;&#x524d;&#x53e5;&#x89c4;&#x5b9a;&#x5916;&#xff0c;&#x672a;&#x7ecf;&#x53c2;&#x4e0e;&#x8005;&#x540c;&#x610f;&#xff0c;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x7ec8;&#x6b62;&#x6216;&#x4fee;&#x8ba2;&#x4e0d;&#x5f97;&#x5bf9;&#x53c2;&#x4e0e;&#x8005;&#x5148;&#x524d;&#x6388;&#x4e88;&#x4ed6;&#x7684;&#x5956;&#x52b1;&#x7684;&#x6743;&#x5229;&#x4ea7;&#x751f;&#x91cd;&#x5927;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0d;&#x5229;&#x5f71;&#x54cd;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Change in Capital Structure</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12.&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x8d44;&#x672c;&#x7ed3;&#x6784;&#x7684;&#x53d8;&#x5316;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) In the event of a stock dividend, stock split or combination of shares, spin-off, reclassification, recapitalization, merger or other change in the Company&#x2019;s capital stock (including, but not limited to, the creation or issuance to shareholders generally of rights, options or warrants for the purchase of common shares or preferred stock of the Company), the number and kind of shares of stock or securities of the Company to be </FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-9</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">issued under the Plan (under outstanding Awards and Awards to be granted in the future), the exercise price of options, and other relevant provisions shall be appropriately adjusted by the Committee, whose determination shall be binding on all persons. If the adjustment would produce fractional shares with respect to any Award, the Committee may adjust appropriately the number of shares covered by the Award so as to eliminate the fractional shares.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x53d1;&#x751f;&#x80a1;&#x7968;&#x7ea2;&#x5229;&#x3001;&#x80a1;&#x7968;&#x62c6;&#x5206;&#x6216;&#x5408;&#x5e76;&#x3001;&#x5206;&#x62c6;&#x3001;&#x91cd;&#x65b0;&#x5206;&#x7c7b;&#x3001;&#x8d44;&#x672c;&#x91cd;&#x7ec4;&#x3001;&#x5408;&#x5e76;&#x6216;&#x516c;&#x53f8;&#x80a1;&#x672c;&#x7684;&#x5176;&#x4ed6;&#x53d8;&#x5316;&#xff08;&#x5305;&#x62ec;&#x4f46;&#x4e0d;&#x9650;&#x4e8e;&#x8bbe;&#x7acb;&#x6216;&#x5411;&#x80a1;&#x4e1c;&#x666e;&#x904d;&#x53d1;&#x653e;&#x8d2d;&#x4e70;&#x516c;&#x53f8;&#x666e;&#x901a;&#x80a1;&#x6216;&#x4f18;&#x5148;&#x80a1;&#x7684;&#x6743;&#x5229;&#x3001;&#x671f;&#x6743;&#x6216;&#x8ba4;&#x80a1;&#x6743;&#xff09;&#x3002;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x53d1;&#x884c;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6216;&#x8bc1;&#x5238;&#x7684;&#x6570;&#x91cf;&#x548c;&#x79cd;&#x7c7b;&#xff08;&#x6839;&#x636e;&#x672a;&#x5b8c;&#x6210;&#x7684;&#x5956;&#x52b1;&#x548c;&#x672a;&#x6765;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#xff09;&#x3001;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x4ee5;&#x53ca;&#x5176;&#x4ed6;&#x76f8;&#x5173;&#x89c4;&#x5b9a;&#x5e94;&#x7531;&#x59d4;&#x5458;&#x4f1a;&#x8fdb;&#x884c;&#x9002;&#x5f53;&#x8c03;&#x6574;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x51b3;&#x5b9a;&#x5bf9;&#x6240;&#x6709;&#x4eba;&#x90fd;&#x6709;&#x7ea6;&#x675f;&#x529b;&#x3002;&#x5982;&#x679c;&#x8c03;&#x6574;&#x4f1a;&#x4ea7;&#x751f;&#x4efb;&#x4f55;&#x5956;&#x52b1;&#x7684;&#x788e;&#x80a1;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x9002;&#x5f53;&#x8c03;&#x6574;&#x5956;&#x52b1;&#x6240;&#x6d89;&#x53ca;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#xff0c;&#x4ee5;&#x6d88;&#x9664;&#x788e;&#x80a1;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) In the event the Company distributes to its shareholders a dividend, or sells or causes to be sold to a person, other than the Company or a subsidiary, shares of stock in any corporation (a &#x201c;Spinoff Company&#x201d;) which, immediately before the distribution or sale, was a majority owned subsidiary of the Company, the Committee shall have the power, in its sole discretion, to make such adjustments as the Committee deems appropriate. The Committee may make adjustments in the number and kind of shares or other securities to be issued under the Plan (under outstanding Awards and Awards to be granted in the future), the exercise price of Options, and other relevant provisions, and, without limiting the foregoing, may substitute securities of a Spinoff Company for securities of the Company. The Committee shall make such adjustments as it determines to be appropriate, considering the economic effect of the distribution or sale on the interests of the Company&#x2019;s shareholders and the Participants in the businesses operated by the Spinoff Company, and subject to the proviso that any such adjustments or new options shall not be made or granted, respectively, that would result in subjecting the Plan to variable plan accounting treatment. The Committee&#x2019;s determination shall be binding on all persons. If the adjustment would produce fractional shares with respect to any Award, the Committee may adjust appropriately the number of shares covered by the Award so as to eliminate the fractional shares.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x672c;&#x516c;&#x53f8;&#x5411;&#x5176;&#x80a1;&#x4e1c;&#x5206;&#x914d;&#x80a1;&#x606f;&#xff0c;&#x6216;&#x5411;&#x672c;&#x516c;&#x53f8;&#x6216;&#x5b50;&#x516c;&#x53f8;&#x4ee5;&#x5916;&#x7684;&#x4eba;&#x51fa;&#x552e;&#x6216;&#x5bfc;&#x81f4;&#x51fa;&#x552e;&#x4efb;&#x4f55;&#x516c;&#x53f8;&#xff08;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5265;&#x79bb;&#x516c;&#x53f8;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff09;&#x7684;&#x80a1;&#x7968;&#xff0c;&#x800c;&#x8be5;&#x516c;&#x53f8;&#x5728;&#x5206;&#x914d;&#x6216;&#x51fa;&#x552e;&#x4e4b;&#x524d;&#x662f;&#x672c;&#x516c;&#x53f8;&#x62e5;&#x6709;&#x591a;&#x6570;&#x80a1;&#x6743;&#x7684;&#x5b50;&#x516c;&#x53f8;&#xff0c;&#x5219;&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x6743;&#x81ea;&#x884c;&#x51b3;&#x5b9a;&#x4f5c;&#x51fa;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x8c03;&#x6574;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5bf9;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#xff08;&#x6839;&#x636e;&#x672a;&#x5b8c;&#x6210;&#x7684;&#x5956;&#x52b1;&#x548c;&#x672a;&#x6765;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#xff09;&#x53d1;&#x884c;&#x7684;&#x80a1;&#x4efd;&#x6216;&#x5176;&#x4ed6;&#x8bc1;&#x5238;&#x7684;&#x6570;&#x91cf;&#x548c;&#x79cd;&#x7c7b;&#x3001;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4ef7;&#x683c;&#x4ee5;&#x53ca;&#x5176;&#x4ed6;&#x76f8;&#x5173;&#x89c4;&#x5b9a;&#x8fdb;&#x884c;&#x8c03;&#x6574;&#xff0c;&#x5e76;&#x4e14;&#x5728;&#x4e0d;&#x9650;&#x5236;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x53ef;&#x4ee5;&#x7528;&#x5265;&#x79bb;&#x516c;&#x53f8;&#x7684;&#x8bc1;&#x5238;&#x53d6;&#x4ee3;&#x672c;&#x516c;&#x53f8;&#x7684;&#x8bc1;&#x5238;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x5728;&#x8003;&#x8651;&#x5230;&#x5206;&#x914d;&#x6216;&#x51fa;&#x552e;&#x5bf9;&#x516c;&#x53f8;&#x80a1;&#x4e1c;&#x548c;&#x53c2;&#x4e0e;&#x8005;&#x5728;&#x5265;&#x79bb;&#x516c;&#x53f8;&#x7ecf;&#x8425;&#x7684;&#x4e1a;&#x52a1;&#x4e2d;&#x7684;&#x5229;&#x76ca;&#x7684;&#x7ecf;&#x6d4e;&#x5f71;&#x54cd;&#x540e;&#xff0c;&#x505a;&#x51fa;&#x5176;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x8c03;&#x6574;&#xff0c;&#x4f46;&#x6761;&#x4ef6;&#x662f;&#xff0c;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x8c03;&#x6574;&#x6216;&#x65b0;&#x671f;&#x6743;&#x7684;&#x505a;&#x51fa;&#x6216;&#x6388;&#x4e88;&#xff0c;&#x4e0d;&#x5f97;&#x5bfc;&#x81f4;&#x672c;&#x8ba1;&#x5212;&#x53d7;&#x5230;&#x53ef;&#x53d8;&#x8ba1;&#x5212;&#x4f1a;&#x8ba1;&#x5904;&#x7406;&#x7684;&#x5f71;&#x54cd;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x51b3;&#x5b9a;&#x5bf9;&#x6240;&#x6709;&#x4eba;&#x5458;&#x90fd;&#x6709;&#x7ea6;&#x675f;&#x529b;&#x3002;&#x5982;&#x679c;&#x8c03;&#x6574;&#x4f1a;&#x4ea7;&#x751f;&#x4efb;&#x4f55;&#x5956;&#x52b1;&#x7684;&#x96f6;&#x661f;&#x80a1;&#x4efd;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x9002;&#x5f53;&#x8c03;&#x6574;&#x5956;&#x52b1;&#x6240;&#x6d89;&#x53ca;&#x7684;&#x80a1;&#x4efd;&#x6570;&#x91cf;&#xff0c;&#x4ee5;&#x6d88;&#x9664;&#x96f6;&#x661f;&#x80a1;&#x4efd;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) To the extent required to avoid a charge to earnings for financial accounting purposes, adjustments made by the Committee pursuant to this Section&#x00a0;12 to outstanding Awards shall be made so that both (i)&#x00a0;the aggregate intrinsic value of an Award immediately after the adjustment is not greater than or less than </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">the Award&#x2019;s</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> aggregate intrinsic value before the adjustment and (ii)&#x00a0;the ratio of the exercise price per share to the market value per share is not reduced.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e3a;&#x907f;&#x514d;&#x5728;&#x8d22;&#x52a1;&#x4f1a;&#x8ba1;&#x65b9;&#x9762;&#x4ea7;&#x751f;&#x8d39;&#x7528;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x6839;&#x636e;&#x672c;&#x7b2c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">12</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6761;&#x5bf9;&#x5c1a;&#x672a;&#x5151;&#x73b0;&#x7684;&#x5956;&#x52b1;&#x8fdb;&#x884c;&#x7684;&#x8c03;&#x6574;&#xff0c;&#x5e94;&#x4f7f;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x7d27;&#x63a5;&#x8c03;&#x6574;&#x540e;&#x7684;&#x5956;&#x52b1;&#x7684;&#x5185;&#x5728;&#x4ef7;&#x503c;&#x603b;&#x989d;&#x4e0d;&#x9ad8;&#x4e8e;&#x6216;&#x4f4e;&#x4e8e;&#x8c03;&#x6574;&#x524d;&#x7684;&#x5956;&#x52b1;&#x5185;&#x5728;&#x4ef7;&#x503c;&#x603b;&#x989d;&#xff0c;&#x5e76;&#x4e14;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6bcf;&#x80a1;&#x884c;&#x4f7f;&#x4ef7;&#x4e0e;&#x6bcf;&#x80a1;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x7684;&#x6bd4;&#x7387;&#x4e0d;&#x51cf;&#x5c11;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) Notwithstanding anything in the Plan to the contrary, the Committee may take the foregoing actions without the consent of any Participant, and the Committee&#x2019;s determination shall be conclusive and binding on all persons for all purposes. The Committee shall make its determinations consistent with the applicable provisions of the Code.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5373;&#x4f7f;&#x672c;&#x8ba1;&#x5212;&#x6709;&#x4efb;&#x4f55;&#x76f8;&#x53cd;&#x7684;&#x89c4;&#x5b9a;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x4e0d;&#x7ecf;&#x4efb;&#x4f55;&#x53c2;&#x4e0e;&#x8005;&#x540c;&#x610f;&#x800c;&#x91c7;&#x53d6;&#x4e0a;&#x8ff0;&#x884c;&#x52a8;&#xff0c;&#x800c;&#x4e14; &#x59d4;&#x5458;&#x4f1a;&#x7684;&#x51b3;&#x5b9a;&#x5e94;&#x662f;&#x51b3;&#x5b9a;&#x6027;&#x7684;&#xff0c;&#x5728;&#x6240;&#x6709;&#x65b9;&#x9762;&#x5bf9;&#x6240;&#x6709;&#x4eba;&#x90fd;&#x6709;&#x7ea6;&#x675f;&#x529b;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x51b3;&#x5b9a;&#x5e94;&#x7b26;&#x5408;&#x300a;&#x6cd5;&#x5178;&#x300b;&#x7684;&#x9002;&#x7528;&#x6761;&#x6b3e;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-10</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">13.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Change of Control</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. In the event of a Change of Control or Corporate Change, the Committee may take such actions with respect to Awards as the Committee deems appropriate. These actions may include, but shall not be limited to, the following:</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">13.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x63a7;&#x5236;&#x6743;&#x7684;&#x53d8;&#x66f4;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x5728;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x5bf9;&#x5956;&#x52b1;&#x91c7;&#x53d6;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x884c;&#x52a8;&#x3002;&#x8fd9;&#x4e9b;&#x884c;&#x52a8;&#x53ef;&#x80fd;&#x5305;&#x62ec;&#xff0c;&#x4f46;&#x4e0d;&#x9650;&#x4e8e;&#x4ee5;&#x4e0b;&#x65b9;&#x9762;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) At the time the Award is made, provide for the acceleration of the vesting schedule relating to the exercise or realization of the Award so that the Award may be exercised or realized in full on or before a date initially fixed by the Committee;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x4f5c;&#x51fa;&#x5956;&#x52b1;&#x65f6;&#xff0c;&#x89c4;&#x5b9a;&#x52a0;&#x901f;&#x4e0e;&#x884c;&#x4f7f;&#x6216;&#x5b9e;&#x73b0;&#x5956;&#x52b1;&#x6709;&#x5173;&#x7684;&#x5f52;&#x5c5e;&#x65f6;&#x95f4;&#x8868;&#xff0c;&#x4ee5;&#x4fbf;&#x5956;&#x52b1;&#x53ef;&#x4ee5;&#x5728;&#x59d4;&#x5458;&#x4f1a;&#x6700;&#x521d;&#x786e;&#x5b9a;&#x7684;&#x65e5;&#x671f;&#x6216;&#x4e4b;&#x524d;&#x5168;&#x90e8;&#x884c;&#x4f7f;&#x6216;&#x5b9e;&#x73b0;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) Provide for the purchase or settlement of any such Award by the Company for any amount of cash equal to the amount which could have been obtained upon the exercise of such Award or realization of a Participant&#x2019;s rights had such Award been currently exercisable or payable;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x89c4;&#x5b9a;&#x516c;&#x53f8;&#x4ee5;&#x4efb;&#x4f55;&#x6570;&#x989d;&#x7684;&#x73b0;&#x91d1;&#x8d2d;&#x4e70;&#x6216;&#x7ed3;&#x7b97;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x5956;&#x52b1;&#xff0c;&#x5176;&#x6570;&#x989d;&#x76f8;&#x5f53;&#x4e8e;&#x5728;&#x8be5;&#x5956;&#x52b1;&#x76ee;&#x524d;&#x53ef;&#x884c;&#x4f7f;&#x6216;&#x5e94;&#x652f;&#x4ed8;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#x884c;&#x4f7f;&#x8be5;&#x5956;&#x52b1;&#x6216;&#x5b9e;&#x73b0;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x6743;&#x5229;&#x6240;&#x80fd;&#x83b7;&#x5f97;&#x7684;&#x6570;&#x989d;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) Make adjustments to Awards then outstanding as the Committee deems appropriate to reflect such Change of Control or Corporate Change; provided, however, that to the extent required to avoid a charge to earnings for financial accounting purposes, such adjustments shall be made so that both (i)&#x00a0;the aggregate intrinsic value of an Award immediately after the adjustment is not greater than or less than the Award&#x2019;s aggregate intrinsic value before the Award and (ii)&#x00a0;the ratio of the exercise price per share to the market value per share is not reduced; or</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x5bf9;&#x5f53;&#x65f6;&#x5c1a;&#x672a;&#x5151;&#x73b0;&#x7684;&#x5956;&#x52b1;&#x8fdb;&#x884c;&#x8c03;&#x6574;&#xff0c;&#x4ee5;&#x53cd;&#x6620;&#x8be5;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#xff1b;&#x4f46;&#x662f;&#xff0c;&#x5728;&#x9700;&#x8981;&#x907f;&#x514d;&#x4e3a;&#x8d22;&#x52a1;&#x4f1a;&#x8ba1;&#x76ee;&#x7684;&#x800c;&#x4ece;&#x6536;&#x76ca;&#x4e2d;&#x6263;&#x9664;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x8be5;&#x7b49;&#x8c03;&#x6574;&#x5e94;&#x4f7f;(i)&#x7d27;&#x63a5;&#x8c03;&#x6574;&#x540e;&#x7684;&#x5956;&#x52b1;&#x7684;&#x603b;&#x5185;&#x5728;&#x4ef7;&#x503c;&#x4e0d;&#x9ad8;&#x4e8e;&#x6216;&#x4f4e;&#x4e8e;&#x5956;&#x52b1;&#x524d;&#x7684;&#x603b;&#x5185;&#x5728;&#x4ef7;&#x503c;&#xff0c;&#x4ee5;&#x53ca;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii)</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6bcf;&#x80a1;&#x884c;&#x4f7f;&#x4ef7;&#x4e0e;&#x6bcf;&#x80a1;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#x7684;&#x6bd4;&#x7387;&#x4e0d;&#x51cf;&#x5c11;&#xff1b;&#x6216;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) Cause any such Award then outstanding to be assumed, or new rights substituted therefore, by the acquiring or surviving legal entity in such Change of Control or Corporate Change.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5728;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#x4e2d;&#xff0c;&#x4f7f;&#x5f53;&#x65f6;&#x5c1a;&#x672a;&#x5151;&#x73b0;&#x7684;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x5956;&#x52b1;&#x7531;&#x6536;&#x8d2d;&#x65b9;&#x6216;&#x5b58;&#x7eed;&#x7684;&#x6cd5;&#x5f8b;&#x5b9e;&#x4f53;&#x627f;&#x62c5;&#xff0c;&#x6216;&#x7528;&#x65b0;&#x7684;&#x6743;&#x5229;&#x66ff;&#x4ee3;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-9" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;page-break-after:avoid;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">14.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Administration of the Plan</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.</FONT></P>
		<P CLASS="ParaOverride-9" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;page-break-after:avoid;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">14.&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x8ba1;&#x5212;&#x7684;&#x7ba1;&#x7406;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) The Plan shall be administered by the Committee, who shall be appointed by the Board. The Board may designate the Compensation Committee of the Board, or a subcommittee of the Compensation Committee, to be the Committee for purposes of the Plan.  The Board may from time to time may appoint members of the Committee and fill vacancies, however caused, in the Committee.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x672c;&#x8ba1;&#x5212;&#x7531;&#x8463;&#x4e8b;&#x4f1a;&#x4efb;&#x547d;&#x7684;&#x59d4;&#x5458;&#x4f1a;&#x8d1f;&#x8d23;&#x7ba1;&#x7406;&#x3002;&#x8463;&#x4e8b;&#x4f1a;&#x53ef;&#x6307;&#x5b9a;&#x8463;&#x4e8b;&#x4f1a;&#x7684;&#x85aa;&#x916c;&#x59d4;&#x5458;&#x4f1a;&#xff0c;&#x6216;&#x85aa;&#x916c;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x4e00;&#x4e2a;&#x5c0f;&#x7ec4;&#x59d4;&#x5458;&#x4f1a;&#xff0c;&#x4f5c;&#x4e3a;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x59d4;&#x5458;&#x4f1a;&#x3002;&#x8463;&#x4e8b;&#x4f1a;&#x53ef;&#x4ee5;&#x4e0d;&#x65f6;&#x5730;&#x4efb;&#x547d;&#x59d4;&#x5458;&#x4f1a;&#x6210;&#x5458;&#xff0c;&#x5e76;&#x586b;&#x8865;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x7531;&#x4efb;&#x4f55;&#x539f;&#x56e0;&#x9020;&#x6210;&#x7684;&#x7a7a;&#x7f3a;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) The Committee shall have the authority to impose such limitations or conditions upon an Award as the Committee deems appropriate to achieve the objectives of the Award and the Plan. Without limiting the foregoing and in addition to the powers set forth elsewhere in the Plan, the Committee shall have the power and complete discretion to determine (i)&#x00a0;which eligible persons shall receive an Award and the nature of the Award, (ii)&#x00a0;the number of shares of Company Stock to be covered by each Award, (iii)&#x00a0;whether Options shall be Incentive Stock Options or Nonstatutory Stock Options, (iv)&#x00a0;the Fair Market Value of Company Stock, (v)&#x00a0;the time or times when an Award shall be granted, (vi)&#x00a0;whether an Award shall become vested over a period of time, according to a performance-based vesting schedule or otherwise, and when it shall be fully vested, (vii)&#x00a0;the </FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-11</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">terms and conditions under which restrictions imposed upon an Award shall lapse, (viii)&#x00a0;whether a Change of Control or Corporate Change exists, (ix)&#x00a0;the terms of incentive programs, performance criteria and other factors relevant to the issuance of Awards or the lapse of restrictions on Restricted Stock or Options, (x)&#x00a0;when Options may be exercised, (xi)&#x00a0;whether to approve a Participant&#x2019;s election with respect to Applicable Withholding Taxes, (xii)&#x00a0;conditions relating to the length of time before disposition of Company Stock received in connection with an Award is permitted, (xiii)&#x00a0;notice provisions relating to the sale of Company Stock acquired under the Plan, and (xiv)&#x00a0;any additional requirements relating to Awards that the Committee deems appropriate. Notwithstanding the foregoing, no &#x201c;tandem stock options&#x201d; (where two stock options are issued together and the exercise of one option affects the right to exercise the other option) may be issued in connection with Incentive Stock Options.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x6743;&#x5bf9;&#x5956;&#x52b1;&#x65bd;&#x52a0;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x9650;&#x5236;&#x6216;&#x6761;&#x4ef6;&#xff0c;&#x4ee5;&#x5b9e;&#x73b0;&#x5956;&#x52b1;&#x548c;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x76ee;&#x6807;&#x3002;&#x5728;&#x4e0d;&#x9650;&#x5236;&#x5728;&#x4e0d;&#x9650;&#x5236;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x9664;&#x4e86;&#x672c;&#x8ba1;&#x5212;&#x5176;&#x4ed6;&#x90e8;&#x5206;&#x89c4;&#x5b9a;&#x7684;&#x6743;&#x529b;&#x5916;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x6709;&#x6743;&#x5e76;&#x5b8c;&#x5168;&#x914c;&#x60c5;&#x51b3;&#x5b9a;&#xff1a;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(i)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x54ea;&#x4e9b;&#x7b26;&#x5408;&#x6761;&#x4ef6;&#x7684;&#x4eba;&#x5e94;&#x83b7;&#x5f97;&#x5956;&#x52b1;&#x548c;&#x5956;&#x52b1;&#x7684;&#x6027;&#x8d28;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6bcf;&#x9879;&#x5956;&#x52b1;&#x6240;&#x6db5;&#x76d6;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x6570;&#x91cf;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x671f;&#x6743;&#x5e94;&#x662f;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x8fd8;&#x662f;&#x975e;&#x6cd5;&#x5b9a;&#x80a1;&#x7968;&#x671f;&#x6743;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(iv) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x516c;&#x5e73;&#x5e02;&#x573a;&#x4ef7;&#x503c;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(v) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6388;&#x4e88;&#x5956;&#x52b1;&#x7684;&#x65f6;&#x95f4;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(vi) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5956;&#x52b1;&#x662f;&#x5426;&#x5728;&#x4e00;&#x6bb5;&#x65f6;&#x95f4;&#x5185;&#x6839;&#x636e;&#x4e1a;&#x7ee9;&#x5f52;&#x5c5e;&#x65f6;&#x95f4;&#x8868;&#x6216;&#x5176;&#x4ed6;&#x65b9;&#x5f0f;&#x5f52;&#x5c5e;&#xff0c;&#x4ee5;&#x53ca;&#x4f55;&#x65f6;&#x5b8c;&#x5168;&#x5f52;&#x5c5e;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(vii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5956;&#x52b1;&#x6240;&#x53d7;&#x9650;&#x5236;&#x5931;&#x6548;&#x7684;&#x6761;&#x6b3e;&#x548c;&#x6761;&#x4ef6;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(viii) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x662f;&#x5426;&#x5b58;&#x5728;&#x63a7;&#x5236;&#x6743;&#x53d8;&#x66f4;&#x6216;&#x516c;&#x53f8;&#x53d8;&#x66f4;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(ix) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6fc0;&#x52b1;&#x8ba1;&#x5212;&#x7684;&#x6761;&#x6b3e;&#x3001;&#x4e1a;&#x7ee9;&#x6807;&#x51c6;&#x548c;&#x5176;&#x4ed6;&#x4e0e;&#x53d1;&#x884c;&#x5956;&#x52b1;&#x6216;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x6216;&#x671f;&#x6743;&#x7684;&#x9650;&#x5236;&#x5931;&#x6548;&#x6709;&#x5173;&#x7684;&#x56e0;&#x7d20;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(x) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4f55;&#x65f6;&#x53ef;&#x4ee5;&#x884c;&#x4f7f;&#x671f;&#x6743;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(xi)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x662f;&#x5426;&#x6279;&#x51c6;&#x53c2;&#x4e0e;&#x8005;&#x5173;&#x4e8e;&#x9002;&#x7528;&#x9884;&#x6263;&#x7a0e;&#x6b3e;&#x7684;&#x9009;&#x62e9;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(xii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x5141;&#x8bb8;&#x5904;&#x7f6e;&#x56e0;&#x5956;&#x52b1;&#x800c;&#x6536;&#x5230;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x65f6;&#x95f4;&#x957f;&#x5ea6;&#x6709;&#x5173;&#x7684;&#x6761;&#x4ef6;&#xff0c;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(xiii)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x51fa;&#x552e;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x83b7;&#x5f97;&#x7684;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x6709;&#x5173;&#x7684;&#x901a;&#x77e5;&#x6761;&#x6b3e;&#xff0c;&#x4ee5;&#x53ca;</FONT></P>
		<P CLASS="ParaOverride-8" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(xiv)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e0e;&#x59d4;&#x5458;&#x4f1a;&#x8ba4;&#x4e3a;&#x9002;&#x5f53;&#x7684;&#x5956;&#x52b1;&#x6709;&#x5173;&#x7684;&#x4efb;&#x4f55;&#x5176;&#x4ed6;&#x8981;&#x6c42;&#x3002;&#x5c3d;&#x7ba1;&#x6709;&#x4e0a;&#x8ff0;&#x89c4;&#x5b9a;&#xff0c;&#x4f46;&#x5728;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x4e2d;&#x4e0d;&#x5f97;&#x53d1;&#x884c; </FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x4e32;&#x8054;&#x80a1;&#x7968;&#x671f;&#x6743;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x201d;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#xff08;&#x5373;&#x4e24;&#x4e2a;&#x80a1;&#x7968;&#x671f;&#x6743;&#x4e00;&#x8d77;&#x53d1;&#x884c;&#xff0c;&#x4e00;&#x4e2a;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x4f1a;&#x5f71;&#x54cd;&#x53e6;&#x4e00;&#x4e2a;&#x671f;&#x6743;&#x7684;&#x884c;&#x4f7f;&#x6743;&#xff09;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) The Committee shall have the power to amend the terms of previously granted Awards so long as the terms as amended are consistent with the terms of the Plan and, where applicable, consistent with the qualification of an Option as an Incentive Stock Option. The consent of the Participant must be obtained with respect to any amendment that would materially and adversely affect the Participant&#x2019;s rights under the Award, except that such consent shall not be required if such amendment is for the purpose of complying any requirement of the Code applicable to the Award.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x6743;&#x4fee;&#x6539;&#x4ee5;&#x524d;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#x7684;&#x6761;&#x6b3e;&#xff0c;&#x53ea;&#x8981;&#x4fee;&#x6539;&#x540e;&#x7684;&#x6761;&#x6b3e;&#x4e0e;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x6761;&#x6b3e;&#x76f8;&#x4e00;&#x81f4;&#xff0c;&#x5e76;&#x5728;&#x9002;&#x7528;&#x7684;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x4e0e;&#x6fc0;&#x52b1;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x8d44;&#x683c;&#x76f8;&#x4e00;&#x81f4;&#x3002;&#x4efb;&#x4f55;&#x4f1a;&#x5bf9;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x6743;&#x5229;&#x4ea7;&#x751f;&#x91cd;&#x5927;&#x4e0d;&#x5229;&#x5f71;&#x54cd;&#x7684;&#x4fee;&#x8ba2;&#x5fc5;&#x987b;&#x5f81;&#x5f97;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x540c;&#x610f;&#xff0c;&#x4f46;&#x5982;&#x679c;&#x8be5;&#x4fee;&#x8ba2;&#x662f;&#x4e3a;&#x4e86;&#x9075;&#x5b88;&#x9002;&#x7528;&#x4e8e;&#x8be5;&#x5956;&#x52b1;&#x7684;&#x6cd5;&#x5178;&#x7684;&#x4efb;&#x4f55;&#x8981;&#x6c42;&#xff0c;&#x5219;&#x4e0d;&#x9700;&#x8981;&#x5f81;&#x5f97;&#x540c;&#x610f;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d) The Committee may adopt rules and regulations for carrying out the Plan. The Committee shall have the express discretionary authority to construe and interpret the Plan and the Award agreements, to resolve any ambiguities, to define any terms, and to make any other determinations required by the Plan or an Award agreement. The interpretation and construction of any provisions of the Plan or an Award agreement by the Committee shall be final and conclusive. The Committee may consult with counsel, who may be counsel to the Company, and shall not incur any liability for any action taken in good faith in reliance upon the advice of counsel.</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-12</P>



	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(d)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x901a;&#x8fc7;&#x89c4;&#x5219;&#x548c;&#x6761;&#x4f8b;&#x6765;&#x6267;&#x884c;&#x672c;&#x8ba1;&#x5212;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x6709;&#x660e;&#x786e;&#x7684;&#x81ea;&#x7531;&#x88c1;&#x91cf;&#x6743;&#x6765;&#x89e3;&#x91ca;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x5956;&#x52b1;&#x534f;&#x8bae;&#xff0c;&#x89e3;&#x51b3;&#x4efb;&#x4f55;&#x542b;&#x7cca;&#x4e0d;&#x6e05;&#x7684;&#x95ee;&#x9898;&#xff0c;&#x5b9a;&#x4e49;&#x4efb;&#x4f55;&#x672f;&#x8bed;&#xff0c;&#x5e76;&#x4f5c;&#x51fa;&#x672c;&#x8ba1;&#x5212;&#x6216;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x6240;&#x8981;&#x6c42;&#x7684;&#x4efb;&#x4f55;&#x5176;&#x4ed6;&#x51b3;&#x5b9a;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x5bf9;&#x672c;&#x8ba1;&#x5212;&#x6216;&#x5956;&#x52b1;&#x534f;&#x8bae;&#x7684;&#x4efb;&#x4f55;&#x6761;&#x6b3e;&#x7684;&#x89e3;&#x91ca;&#x548c;&#x8bf4;&#x660e;&#x5e94;&#x662f;&#x6700;&#x7ec8;&#x548c;&#x51b3;&#x5b9a;&#x6027;&#x7684;&#x3002;&#x59d4;&#x5458;&#x4f1a;&#x53ef;&#x4ee5;&#x54a8;&#x8be2;&#x5f8b;&#x5e08;&#xff0c;&#x5f8b;&#x5e08;&#x53ef;&#x4ee5;&#x662f;&#x516c;&#x53f8;&#x7684;&#x6cd5;&#x5f8b;&#x987e;&#x95ee;&#xff0c;&#x5e76;&#x4e14;&#x4e0d;&#x5bf9;&#x4efb;&#x4f55;&#x6839;&#x636e;&#x6cd5;&#x5f8b;&#x987e;&#x95ee;&#x7684;&#x5efa;&#x8bae;&#x800c;&#x5584;&#x610f;&#x91c7;&#x53d6;&#x7684;&#x884c;&#x52a8;&#x627f;&#x62c5;&#x4efb;&#x4f55;&#x8d23;&#x4efb;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e) A majority of the members of the Committee shall constitute a quorum, and all actions of the Committee shall be taken by a majority of the members present. Any action may be taken by a written instrument signed by all of the members, and any action so taken shall be fully effective as if it had been taken at a meeting.</FONT></P>
		<P CLASS="ParaOverride-4" STYLE="margin:0;padding:0;border-width:0;margin-left:24pt;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(e)</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x59d4;&#x5458;&#x4f1a;&#x8fc7;&#x534a;&#x6570;&#x7684;&#x6210;&#x5458;&#x6784;&#x6210;&#x6cd5;&#x5b9a;&#x4eba;&#x6570;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x6240;&#x6709;&#x884c;&#x52a8;&#x5747;&#x5e94;&#x7531;&#x51fa;&#x5e2d;&#x4f1a;&#x8bae;&#x7684;&#x8fc7;&#x534a;&#x6570;&#x6210;&#x5458;&#x4f5c;&#x51fa;&#x3002;&#x4efb;&#x4f55;&#x884c;&#x52a8;&#x90fd;&#x53ef;&#x4ee5;&#x901a;&#x8fc7;&#x6240;&#x6709;&#x6210;&#x5458;&#x7b7e;&#x7f72;&#x7684;&#x4e66;&#x9762;&#x6587;&#x4ef6;&#x8fdb;&#x884c;&#xff0c;&#x8fd9;&#x6837;&#x91c7;&#x53d6;&#x7684;&#x4efb;&#x4f55;&#x884c;&#x52a8;&#x90fd;&#x5e94;&#x50cf;&#x5728;&#x4f1a;&#x8bae;&#x4e0a;&#x91c7;&#x53d6;&#x7684;&#x90a3;&#x6837;&#x5b8c;&#x5168;&#x6709;&#x6548;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">15.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Issuance of Company Stock</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The Company shall not be required to issue or deliver any certificate for shares of Company Stock before (a)&#x00a0;the admission of such shares to listing on any stock exchange on which Company Stock may then be listed, (b)&#x00a0;receipt of any required registration or other qualification of such shares under any state or federal securities law or regulation that the Company&#x2019;s counsel shall determine is necessary or advisable, and (c)&#x00a0;the Company shall have been advised by counsel that all applicable legal requirements have been complied with. The Company may place on a certificate representing Company Stock any legend required to reflect restrictions pursuant to the Plan, and any legend deemed necessary by the Company&#x2019;s counsel to comply with federal or state securities laws. The Company may require a customary written indication of a Participant&#x2019;s investment intent. Until a Participant has been issued a certificate for the shares of Company Stock acquired, the Participant shall possess no shareholder rights with respect to the shares.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">15.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x53d1;&#x884c;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x5728;&#x4ee5;&#x4e0b;&#x60c5;&#x51b5;&#x4e0b;&#xff0c;&#x516c;&#x53f8;&#x65e0;&#x9700;&#x53d1;&#x884c;&#x6216;&#x4ea4;&#x4ed8;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x4efb;&#x4f55;&#x8bc1;&#x4e66;&#xff1a;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x8be5;&#x7b49;&#x80a1;&#x7968;&#x83b7;&#x51c6;&#x5728;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x5f53;&#x65f6;&#x53ef;&#x80fd;&#x4e0a;&#x5e02;&#x7684;&#x4efb;&#x4f55;&#x8bc1;&#x5238;&#x4ea4;&#x6613;&#x6240;&#x4e0a;&#x5e02;&#xff1b;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6839;&#x636e;&#x4efb;&#x4f55;&#x5dde;&#x6216;&#x8054;&#x90a6;&#x8bc1;&#x5238;&#x6cd5;&#x5f8b;&#x6216;&#x6cd5;&#x89c4;&#x6536;&#x5230;&#x8be5;&#x7b49;&#x80a1;&#x7968;&#x7684;&#x4efb;&#x4f55;&#x5fc5;&#x8981;&#x767b;&#x8bb0;&#x6216;&#x5176;&#x4ed6;&#x8d44;&#x683c;&#xff0c;&#x800c;&#x516c;&#x53f8;&#x7684;&#x5f8b;&#x5e08;&#x8ba4;&#x4e3a;&#x8fd9;&#x662f;&#x5fc5;&#x8981;&#x6216;&#x53ef;&#x53d6;&#x7684;&#xff1b;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x516c;&#x53f8;&#x5df2;&#x88ab;&#x5f8b;&#x5e08;&#x544a;&#x77e5;&#x6240;&#x6709;&#x9002;&#x7528;&#x7684;&#x6cd5;&#x5f8b;&#x8981;&#x6c42;&#x90fd;&#x5df2;&#x5f97;&#x5230;&#x9075;&#x5b88;&#x3002;&#x516c;&#x53f8;&#x53ef;&#x5728;&#x4ee3;&#x8868;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x8bc1;&#x4e66;&#x4e0a;&#x653e;&#x7f6e;&#x53cd;&#x6620;&#x672c;&#x8ba1;&#x5212;&#x6240;&#x89c4;&#x5b9a;&#x9650;&#x5236;&#x7684;&#x4efb;&#x4f55;&#x56fe;&#x4f8b;&#xff0c;&#x4ee5;&#x53ca;&#x516c;&#x53f8;&#x5f8b;&#x5e08;&#x8ba4;&#x4e3a;&#x5bf9;&#x9075;&#x5b88;&#x8054;&#x90a6;&#x6216;&#x5dde;&#x8bc1;&#x5238;&#x6cd5;&#x6709;&#x5fc5;&#x8981;&#x7684;&#x4efb;&#x4f55;&#x56fe;&#x4f8b;&#x3002;&#x516c;&#x53f8;&#x53ef;&#x80fd;&#x4f1a;&#x8981;&#x6c42;&#x53c2;&#x4e0e;&#x8005;&#x6309;&#x60ef;&#x4f8b;&#x4ee5;&#x4e66;&#x9762;&#x5f62;&#x5f0f;&#x8868;&#x660e;&#x5176;&#x6295;&#x8d44;&#x610f;&#x5411;&#x3002;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x83b7;&#x5f97;&#x6240;&#x8d2d;&#x516c;&#x53f8;&#x80a1;&#x7968;&#x7684;&#x8bc1;&#x4e66;&#x4e4b;&#x524d;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x4e0d;&#x62e5;&#x6709;&#x4e0e;&#x80a1;&#x7968;&#x6709;&#x5173;&#x7684;&#x80a1;&#x4e1c;&#x6743;&#x5229;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">16.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Rights Under the Plan</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. Title to and beneficial ownership of all benefits described in the Plan shall at all times remain with the Company. Participation in the Plan and the right to receive payments under the Plan shall not give a Participant any proprietary interest in the Company or any Affiliate or any of their assets. No trust fund shall be created in connection with the Plan, and there shall be no required funding of amounts that may become payable under the Plan. A Participant shall, for all purposes, be a general creditor of the Company. The interest of a Participant in the Plan cannot be assigned, anticipated, sold, encumbered or pledged and shall not be subject to the claims of his creditors.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">16.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x672c;&#x8ba1;&#x5212;&#x4e0b;&#x7684;&#x6743;&#x5229;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x4e2d;&#x6240;&#x8ff0;&#x7684;&#x6240;&#x6709;&#x798f;&#x5229;&#x7684;&#x6240;&#x6709;&#x6743;&#x548c;&#x5b9e;&#x76ca;&#x6240;&#x6709;&#x6743;&#x5728;&#x4efb;&#x4f55;&#x65f6;&#x5019;&#x90fd;&#x5c5e;&#x4e8e;&#x516c;&#x53f8;&#x3002;&#x53c2;&#x4e0e;&#x672c;&#x8ba1;&#x5212;&#x548c;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x83b7;&#x5f97;&#x4ed8;&#x6b3e;&#x7684;&#x6743;&#x5229;&#x4e0d;&#x5e94;&#x7ed9;&#x4e88;&#x53c2;&#x4e0e;&#x8005;&#x5728;&#x672c;&#x516c;&#x53f8;&#x6216;&#x4efb;&#x4f55;&#x5173;&#x8054;&#x516c;&#x53f8;&#x6216;&#x5176;&#x4efb;&#x4f55;&#x8d44;&#x4ea7;&#x4e2d;&#x7684;&#x4efb;&#x4f55;&#x6240;&#x6709;&#x6743;&#x5229;&#x76ca;&#x3002;&#x4e0d;&#x5e94;&#x8bbe;&#x7acb;&#x4e0e;&#x672c;&#x8ba1;&#x5212;&#x6709;&#x5173;&#x7684;&#x4fe1;&#x6258;&#x57fa;&#x91d1;&#xff0c;&#x4e5f;&#x4e0d;&#x5e94;&#x8981;&#x6c42;&#x4e3a;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x53ef;&#x80fd;&#x652f;&#x4ed8;&#x7684;&#x91d1;&#x989d;&#x63d0;&#x4f9b;&#x8d44;&#x91d1;&#x3002;&#x5c31;&#x6240;&#x6709;&#x76ee;&#x7684;&#x800c;&#x8a00;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x5e94;&#x662f;&#x516c;&#x53f8;&#x7684;&#x4e00;&#x822c;&#x503a;&#x6743;&#x4eba;&#x3002;&#x53c2;&#x4e0e;&#x8005;&#x5728;&#x672c;&#x8ba1;&#x5212;&#x4e2d;&#x7684;&#x6743;&#x76ca;&#x4e0d;&#x80fd;&#x88ab;&#x8f6c;&#x8ba9;&#x3001;&#x9884;&#x671f;&#x3001;&#x51fa;&#x552e;&#x3001;&#x62b5;&#x62bc;&#x6216;&#x8d28;&#x62bc;&#xff0c;&#x5e76;&#x4e14;&#x4e0d;&#x5e94;&#x53d7;&#x5230;&#x5176;&#x503a;&#x6743;&#x4eba;&#x7684;&#x7d22;&#x8d54;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">17.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Beneficiary</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. A Participant may designate, on a form provided by the Committee, one or more beneficiaries to receive any payments under Awards of Restricted Stock or Options after the Participant&#x2019;s death. If a Participant makes no valid designation, or if the designated beneficiary fails to survive the Participant or otherwise fails to receive the benefits, the Participant&#x2019;s beneficiary shall be the first of the following persons who survives the Participant: (a)&#x00a0;the Participant&#x2019;s surviving spouse, (b)&#x00a0;the Participant&#x2019;s surviving descendants,&#x00a0;</FONT><FONT CLASS="CharOverride-7" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:italic;font-weight:normal;">per stirpes</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;,</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> or (c)&#x00a0;the personal representative of the Participant&#x2019;s estate.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">17.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x53d7;&#x76ca;&#x4eba;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x53c2;&#x4e0e;&#x8005;&#x53ef;&#x5728;&#x59d4;&#x5458;&#x4f1a;&#x63d0;&#x4f9b;&#x7684;&#x8868;&#x683c;&#x4e0a;&#x6307;&#x5b9a;&#x4e00;&#x540d;&#x6216;&#x591a;&#x540d;&#x53d7;&#x76ca;&#x4eba;&#xff0c;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x6b7b;&#x4ea1;&#x540e;&#x63a5;&#x6536;&#x9650;&#x5236;&#x6027;&#x80a1;&#x7968;&#x6216;&#x671f;&#x6743;&#x5956;&#x52b1;&#x7684;&#x4efb;&#x4f55;&#x6b3e;&#x9879;&#x3002;&#x5982;&#x679c;&#x53c2;&#x4e0e;&#x8005;&#x6ca1;&#x6709;&#x505a;&#x51fa;&#x6709;&#x6548;&#x7684;&#x6307;&#x5b9a;&#xff0c;&#x6216;&#x8005;&#x6307;&#x5b9a;&#x7684;&#x53d7;&#x76ca;&#x4eba;&#x5728;&#x53c2;&#x4e0e;&#x8005;&#x53bb;&#x4e16;&#x540e;&#x672a;&#x80fd;&#x5b58;&#x6d3b;&#xff0c;&#x6216;&#x8005;&#x672a;&#x80fd;&#x83b7;&#x5f97;&#x5229;&#x76ca;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x53d7;&#x76ca;&#x4eba;&#x5e94;&#x662f;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x5b58;&#x6d3b;&#x7684;&#x4e0b;&#x5217;&#x4eba;&#x5458;&#x4e2d;&#x7684;&#x7b2c;&#x4e00;&#x4eba;&#xff1a;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x672a;&#x4ea1;&#x914d;&#x5076;&#xff0c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x672a;&#x4ea1;&#x540e;&#x4ee3;&#xff0c;&#x6216;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(c) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x9057;&#x4ea7;&#x4ee3;&#x7406;&#x4eba;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-13</P>



	<DIV CLASS="Basic-Text-Frame" STYLE="margin:0;padding:0;border-width:0;">
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">18.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Notice</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. All notices and other communications required or permitted to be given under this Plan shall be in writing and shall be deemed to have been duly given if delivered personally or mailed first class, postage prepaid, as follows: (a)&#x00a0;if to the Company &#x2014; at its principal business address to the attention of the Secretary; (b)&#x00a0;if to any Participant &#x2014; at the last address of the Participant known to the sender at the time the notice or other communication is sent.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">18.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x901a;&#x77e5;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x8981;&#x6c42;&#x6216;&#x5141;&#x8bb8;&#x53d1;&#x51fa;&#x7684;&#x6240;&#x6709;&#x901a;&#x77e5;&#x548c;&#x5176;&#x4ed6;&#x901a;&#x4fe1;&#x5e94;&#x91c7;&#x7528;&#x4e66;&#x9762;&#x5f62;&#x5f0f;&#xff0c;&#x5982;&#x679c;&#x4eb2;&#x81ea;&#x9001;&#x8fbe;&#x6216;&#x4ee5;&#x5934;&#x7b49;&#x8231;&#x90ae;&#x5bc4;&#xff0c;&#x5e76;&#x9884;&#x4ed8;&#x90ae;&#x8d44;&#xff0c;&#x5219;&#x5e94;&#x89c6;&#x4e3a;&#x5df2;&#x6b63;&#x5f0f;&#x53d1;&#x51fa;&#xff1a;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(a) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;&#x679c;&#x662f;&#x7ed9;&#x516c;&#x53f8;&#xff0c;&#x5219;&#x5bc4;&#x5230;&#x516c;&#x53f8;&#x7684;&#x4e3b;&#x8981;&#x8425;&#x4e1a;&#x5730;&#x5740;&#xff0c;&#x7531;&#x79d8;&#x4e66;&#x6536;&#xff1b;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">(</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">b) </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x5982;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x679c;&#x662f;&#x7ed9;&#x4efb;&#x4f55;&#x53c2;&#x4e0e;&#x8005;&#xff0c;&#x5219;&#x5bc4;&#x5230;&#x5bc4;&#x4ef6;&#x4eba;&#x5728;&#x53d1;&#x9001;&#x901a;&#x77e5;&#x6216;&#x5176;&#x4ed6;&#x901a;&#x4fe1;&#x65f6;&#x5df2;&#x77e5;&#x7684;&#x53c2;&#x4e0e;&#x8005;&#x7684;&#x6700;&#x540e;&#x5730;&#x5740;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">19.&#x00a0;</FONT><FONT CLASS="CharOverride-6" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Interpretation</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">. The terms of this Plan and Awards granted pursuant to the Plan are subject to all present and future regulations and rulings of the Secretary of the Treasury relating to the qualification of Incentive Stock Options under the Code, to the extent applicable, and they are subject to all present and future rulings of the Securities and Exchange Commission, to the extent applicable. If any provision of the Plan or an Award conflicts with any such regulation or ruling, to the extent applicable, the Committee shall cause the Plan to be amended, and shall modify the Award, so as to comply, or if for any reason amendments cannot be made, that provision of the Plan and/or the Award shall be void and of no effect.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">19.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x89e3;&#x91ca;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x6761;&#x6b3e;&#x548c;&#x6839;&#x636e;&#x672c;&#x8ba1;&#x5212;&#x6388;&#x4e88;&#x7684;&#x5956;&#x52b1;&#xff0c;&#x5728;&#x9002;&#x7528;&#x8303;&#x56f4;&#x5185;&#xff0c;&#x987b;&#x9075;&#x5b88;&#x8d22;&#x653f;&#x90e8;&#x90e8;&#x957f;&#x5173;&#x4e8e;&#x6fc0;&#x52b1;&#x6027;&#x80a1;&#x7968;&#x671f;&#x6743;&#x7684;&#x8d44;&#x683c;&#x6216;&#x9075;&#x5b88;&#x6cd5;&#x5178;&#x6240;&#x6709;&#x73b0;&#x884c;&#x548c;&#x672a;&#x6765;&#x7684;&#x6cd5;&#x89c4;&#x548c;&#x88c1;&#x51b3;&#xff0c;&#x5e76;&#x4e14;&#x5728;&#x9002;&#x7528;&#x7684;&#x60c5;&#x5f62;&#x4e0b;&#xff0c;&#x987b;&#x9075;&#x5b88;&#x8bc1;&#x5238;&#x4ea4;&#x6613;&#x59d4;&#x5458;&#x4f1a;&#x7684;&#x6240;&#x6709;&#x73b0;&#x884c;&#x548c;&#x672a;&#x6765;&#x7684;&#x88c1;&#x51b3;&#x3002;&#x5982;&#x679c;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x4efb;&#x4f55;&#x6761;&#x6b3e;&#x6216;&#x5956;&#x52b1;&#x4e0e;&#x4efb;&#x4f55;&#x6b64;&#x7c7b;&#x6cd5;&#x89c4;&#x6216;&#x88c1;&#x51b3;&#x76f8;&#x51b2;&#x7a81;&#xff0c;&#x5728;&#x9002;&#x7528;&#x7684;&#x8303;&#x56f4;&#x5185;&#xff0c;&#x59d4;&#x5458;&#x4f1a;&#x5e94;&#x4fc3;&#x4f7f;&#x672c;&#x8ba1;&#x5212;&#x5f97;&#x5230;&#x4fee;&#x6b63;&#xff0c;&#x5e76;&#x5e94;&#x4fee;&#x6539;&#x5956;&#x52b1;&#xff0c;&#x4ee5;&#x7b26;&#x5408;&#x89c4;&#x5b9a;&#xff0c;&#x6216;&#x8005;&#x5982;&#x679c;&#x7531;&#x4e8e;&#x4efb;&#x4f55;&#x539f;&#x56e0;&#x4e0d;&#x80fd;&#x8fdb;&#x884c;&#x4fee;&#x6b63;&#xff0c;&#x672c;&#x8ba1;&#x5212;&#x7684;&#x8be5;&#x6761;&#x6b3e;&#x548c;</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">/</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x6216;&#x5956;&#x52b1;&#x5e94;&#x65e0;&#x6548;&#xff0c;&#x6ca1;&#x6709;&#x4efb;&#x4f55;&#x6548;&#x529b;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">20.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="CharOverride-9" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Discretionary Nature of Plan</FONT><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.  The benefits and rights provided under the Plan are wholly discretionary and, although provided by the Company, do not constitute regular or periodic payments.  Unless otherwise required by applicable laws, the benefits and rights provided under the Plan are not to be considered part of a Participant&#x2019;s salary or compensation or for purposes of calculating any severance, resignation, redundancy, or other end of service payments, vacation, bonuses, long-term service awards, indemnification, pension or retirement benefits, or any other payments, benefits or rights of any kind.  By acceptance of an Award, a Participant waives any and all rights to compensation or damages as a result of the termination of employment with the Company or its Affiliates for any reason whatsoever insofar as those rights result or may result from this Plan or any Award.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">20.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x672c;&#x8ba1;&#x5212;&#x7684;&#x914c;&#x60c5;&#x88c1;&#x91cf;&#x6027;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x63d0;&#x4f9b;&#x7684;&#x798f;&#x5229;&#x548c;&#x6743;&#x5229;&#x662f;&#x5177;&#x6709;&#x914c;&#x60c5;&#x88c1;&#x91cf;&#x6027;&#x7684;&#xff0c;&#x5e76;&#x4e14;&#xff0c;&#x867d;&#x7136;&#x8be5;&#x7b49;&#x798f;&#x5229;&#x548c;&#x6743;&#x5229;&#x662f;&#x7531;&#x516c;&#x53f8;&#x63d0;&#x4f9b;&#xff0c;&#x5176;&#x5e76;&#x4e0d;&#x6784;&#x6210;&#x5b9a;&#x671f;&#x4ed8;&#x6b3e;&#x3002;&#x9664;&#x975e;&#x9002;&#x7528;&#x6cd5;&#x5f8b;&#x53e6;&#x6709;&#x89c4;&#x5b9a;&#xff0c;&#x5426;&#x5219;&#x672c;&#x8ba1;&#x5212;&#x63d0;&#x4f9b;&#x7684;&#x798f;&#x5229;&#x548c;&#x6743;&#x5229;&#x4e0d;&#x5f97;&#x89c6;&#x4e3a;&#x53c2;&#x4e0e;&#x8005;&#x5de5;&#x8d44;&#x6216;&#x85aa;&#x916c;&#x7684;&#x4e00;&#x90e8;&#x5206;&#x6216;&#x8005;&#x7528;&#x4e8e;&#x8ba1;&#x7b97;&#x4efb;&#x4f55;&#x9063;&#x6563;&#x8d39;&#x3001;&#x8f9e;&#x804c;&#x3001;&#x88c1;&#x5458;&#x6216;&#x5176;&#x4ed6;&#x670d;&#x52a1;&#x7ec8;&#x6b62;&#x4e0b;&#x7684;&#x4ed8;&#x6b3e;&#x3001;&#x5047;&#x671f;&#x3001;&#x5956;&#x91d1;&#x3001;</FONT><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;"> </FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x957f;&#x671f;&#x670d;&#x52a1;&#x5956;&#x52b1;&#x3001;&#x8d54;&#x507f;&#x3001;&#x517b;&#x8001;&#x91d1;&#x6216;&#x9000;&#x4f11;&#x798f;&#x5229;&#xff0c;&#x6216;&#x4efb;&#x4f55;&#x5176;&#x4ed6;&#x4ed8;&#x6b3e;&#x3001;&#x798f;&#x5229;&#x6216;&#x4efb;&#x4f55;&#x79cd;&#x7c7b;&#x7684;&#x6743;&#x5229;&#x3002;&#x5bf9;&#x4e8e;&#x56e0;&#x7ec8;&#x6b62;&#x4e0e;&#x516c;&#x53f8;&#x6216;&#x5176;&#x5173;&#x8054;&#x516c;&#x53f8;&#x7684;&#x96c7;&#x4f63;&#x5173;&#x7cfb;&#x800c;&#x83b7;&#x5f97;&#x8d54;&#x507f;&#x6216;&#x635f;&#x5bb3;&#x8d54;&#x507f;&#x7684;&#x4efb;&#x4f55;&#x6743;&#x5229;&#xff0c;&#x82e5;&#x8be5;&#x7b49;&#x6743;&#x5229;&#x6765;&#x81ea;&#x6216;&#x53ef;&#x80fd;&#x6765;&#x81ea;&#x672c;&#x8ba1;&#x5212;&#x6216;&#x4efb;&#x4f55;&#x5956;&#x52b1;&#xff0c;&#x53c2;&#x4e0e;&#x8005;&#x901a;&#x8fc7;&#x63a5;&#x53d7;&#x5956;&#x52b1;&#x653e;&#x5f03;&#x8be5;&#x7b49;&#x6743;&#x5229;&#x3002;</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">21. </FONT><FONT CLASS="CharOverride-9" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;text-decoration:underline;">Choice of Law</FONT><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">.  The Plan will be governed by and construed in accordance with the internal laws of the State of New York, without reference to any choice of law principles.</FONT></P>
		<P CLASS="ParaOverride-7" STYLE="margin:0;padding:0;border-width:0;margin-top:8pt;orphans:2;text-align:justify;text-indent:24pt;widows:2;margin-top:8pt;"><FONT CLASS="CharOverride-8" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">21.</FONT><FONT CLASS="CharOverride-5" STYLE="font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-weight:normal;">&#x00a0;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;text-decoration:underline;">&#x6cd5;&#x5f8b;&#x9009;&#x62e9;</FONT><FONT CLASS="Adobe" STYLE="font-family:Adobe Song Std L, serif;font-size:10pt;font-style:normal;font-weight:300;">&#x3002;&#x672c;&#x8ba1;&#x5212;&#x5c06;&#x53d7;&#x7ebd;&#x7ea6;&#x5dde;&#x5dde;&#x6cd5;&#x5f8b;&#x7ba1;&#x8f96;&#x5e76;&#x6309;&#x5176;&#x89e3;&#x91ca;&#xff0c;&#x4e0d;&#x63f4;&#x5f15;&#x4efb;&#x4f55;&#x6cd5;&#x5f8b;&#x9009;&#x62e9;&#x539f;&#x5219;&#x3002;</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">A-14</P>




	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<TABLE CLASS="No-Table-Style" STYLE="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;">


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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;vertical-align:top;width: 27.78%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">

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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 32.78%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 37.22%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">VOTE ON INTERNET</FONT></P>
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">Go to http:</FONT><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">//</FONT><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">www.vstocktransfer.com</FONT><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">/</FONT><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">proxy</FONT></P>
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:left;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">Click on Proxy Voter Login and log</FONT><FONT CLASS="nobreak" STYLE="font-size:9pt;">-on</FONT><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;"> using the below control number</FONT></P>
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">CONTROL #</FONT></P>
					</TD>
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					<TD CLASS="TB" ROWSPAN="3" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;vertical-align:top;width: 27.78%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">*&#x00a0;<FONT STYLE="width: 15px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>SPECIMEN<FONT STYLE="width: 18px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT>*</FONT></P>
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">1 MAIN STREET</FONT></P>
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:8pt;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">ANYWHERE PA&#x00a0;99999</FONT><FONT CLASS="nobreak" STYLE="font-size:9pt;">-9999</FONT></P>
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					<TD CLASS="TB" ROWSPAN="3" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
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					<TD CLASS="TB" ROWSPAN="2" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 37.22%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:left;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">VOTE BY EMAIL<BR></FONT><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">Mark, sign and date your proxy card and <BR>email it to vote@vstocktransfer.com</FONT></P>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 37.22%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 32.78%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" ROWSPAN="2" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 37.22%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:left;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">VOTE IN PERSON<BR></FONT><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">If you would like to vote in person, please <BR>attend the Annual Meeting to be held on December&#x00a0;7, 2022 at 9:00&#x00a0;a.m., Beijing Time.</FONT></P>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 32.78%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="top">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:top;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="top">&#x00a0;</TD>
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		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:5pt;text-align:center;margin-top:5pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">Please Vote, Sign, Date and Return Promptly in the Enclosed Envelope.</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:5pt;text-align:center;margin-top:5pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">All votes must be received by 1</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">0</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">:59&#x00a0;</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">a</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">.m., Eastern Time, on December&#x00a0;</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">6</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">, 2022</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">/</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">1</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">1</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">:59&#x00a0;p.m. Beijing Time on December&#x00a0;6, 2022.</FONT></P>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:5pt;margin-top:5pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">Annual Meeting Proxy Card&#x00a0;-&#x00a0;ReTo </FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">Eco-Solutions</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">, Inc.</FONT></P>
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						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">DETACH PROXY CARD HERE TO VOTE BY MAIL</FONT></P>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:middle;width: 7.81%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="middle">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:8pt;text-align:right;"><FONT CLASS="CharOverride-2" STYLE="font-family:Times New Roman, serif;font-size:20pt;font-style:normal;font-weight:bold;">&#x25bc;</FONT></P>
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					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:middle;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="middle">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;padding-top:10pt;vertical-align:middle;width: 66.78%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="middle">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:8pt;text-align:center;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">The&#x00a0;Board&#x00a0;of&#x00a0;Directors&#x00a0;recommends&#x00a0;that&#x00a0;you&#x00a0;vote&#x00a0;FOR&#x00a0;each&#x00a0;director&#x00a0;nominee:</FONT></P>
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						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:8pt;"><FONT CLASS="CharOverride-2" STYLE="font-family:Times New Roman, serif;font-size:20pt;font-style:normal;font-weight:bold;">&#x25bc;</FONT></P>
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		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-left:24pt;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">(1)<FONT STYLE="width: 18px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">To elect Austin Huang and Lidong Liu as Class&#x00a0;A directors, each to serve a term expiring at the annual meeting of shareholders in 2023 or until their successors are duly elected and qualified; to elect Baoqing Sun and Tonglong Liu as Class&#x00a0;B directors, each to serve a term expiring at the annual meeting of shareholders in 2024 or until their successors are duly elected and qualified; and to elect Hengfang Li, Guangfeng Dai and Zhizhong Hu as Class&#x00a0;C directors, each to serve a term expiring at the annual meeting of shareholders in 2025 or until their successors are duly elected and qualified</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">.</FONT></P>
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						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">WITHHOLD</FONT></P>
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		</TABLE>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:5pt;text-align:center;margin-top:5pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">The Board of Directors recommends that you vote FOR the following item:</FONT></P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-left:24pt;margin-top:5pt;margin-top:5pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">(2)<FONT STYLE="width: 18px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">To ratify the appointment of YCM CPA, Inc. as the company&#x2019;s independent registered public accounting firm for the fiscal year ending December&#x00a0;31, 2022.</FONT></P>
		<TABLE CLASS="No-Table-Style" STYLE="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;">


				<TR CLASS="No-Table-Style _idGenTableRowColumn-6" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 4.23%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">

					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.88%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;font-size:9pt;">&#9744;</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 29.34%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">VOTE FOR</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 2.52%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;font-size:9pt;">&#9744;</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 23.73%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">VOTE AGAINST</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 2.09%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;font-size:9pt;">&#9744;</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 10.21%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">ABSTAIN</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 18.22%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">&#x00a0;</TD>
				</TR>

		</TABLE>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-top:8pt;text-align:center;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">The Board of Directors recommends that you vote FOR the following item:</FONT></P>
		<P CLASS="NL_m" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:48pt;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-24pt;widows:3;margin-left:24pt;margin-top:6pt;margin-top:6pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">(3)<FONT STYLE="width: 18px;display: inline-block;">&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;&#x00a0;</FONT></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">To approve the 2022 Share Incentive Plan.</FONT></P>
		<TABLE CLASS="No-Table-Style" STYLE="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;">


				<TR CLASS="No-Table-Style _idGenTableRowColumn-6" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 4.23%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">

					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.88%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;font-size:9pt;">&#9744;</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 29.34%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">VOTE FOR</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 2.52%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;font-size:9pt;">&#9744;</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 23.73%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">VOTE AGAINST</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 2.09%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;font-size:9pt;">&#9744;</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 10.21%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">ABSTAIN</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 18.22%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">&#x00a0;</TD>
				</TR>

		</TABLE>
		<TABLE CLASS="No-Table-Style" STYLE="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;">


				<TR CLASS="No-Table-Style _idGenTableRowColumn-32" STYLE="height:12pt;">
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;width: 32.22%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="bottom">

						<P CLASS="TCH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;text-align:left;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Date</FONT></P>
					</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 32.22%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="bottom">
						<P CLASS="TCH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0pt;text-align:left;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Signature</FONT></P>
					</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TCH" STYLE="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="bottom">
						<P CLASS="TCH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:9pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0pt;text-align:left;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">Signature, if held jointly</FONT></P>
					</TD>
				</TR>

		</TABLE>
		<TABLE CLASS="No-Table-Style" STYLE="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;">


				<TR CLASS="No-Table-Style _idGenTableRowColumn-35" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;vertical-align:middle;width: 45.26%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="middle">

						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:left;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">To change the address on your account, please check <BR>the box at right and indicate your new address.</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:middle;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="middle">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;vertical-align:middle;width: 53.63%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="middle">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;font-size:9pt;">&#9744;</FONT></P>
					</TD>
				</TR>

		</TABLE>
		<TABLE CLASS="No-Table-Style" STYLE="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;">


				<TR CLASS="No-Table-Style _idGenTableRowColumn-6" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 32.22%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">

						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">* SPECIMEN *</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 32.22%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">AC:ACCT9999</FONT></P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.11%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 33.33%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:right;"><FONT CLASS="CharOverride-1" STYLE="font-size:9pt;">90.00</FONT></P>
					</TD>
				</TR>

		</TABLE>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:8pt;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">RETO </FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">ECO-SOLUTIONS</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">, INC.<BR></FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">Proxy Card for the Annual Meeting of Shareholders<BR>To be Held on December&#x00a0;7, 2022<BR>9:00&#x00a0;a.m., Beijing Time<BR>(</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">8</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">:00 </FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">p</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">.</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">m</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;font-size:9pt;">.&#x00a0;Eastern Time, December&#x00a0;6, 2022)</FONT></P>
		</DIV>

		<P CLASS="RRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; page-break-after: always; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">&#x00a0;</P>


	<DIV CLASS="_idGenObjectStyleOverride-1" STYLE="margin:0;padding:0;border-width:0;border-width:0pt;">
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">RETO </FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">ECO-SOLUTIONS</FONT><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">, INC.</FONT></P>
		<P CLASS="H1" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:1;page-break-after:avoid;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">The undersigned, having received notice of the Annual Meeting and management&#x2019;s Proxy Statement therefore, and revoking all prior proxies, hereby appoints Hengfang Li, as proxy to represent and vote and act upon the following matters in respect of all common shares of ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT>, Inc. (the &#x201c;Company&#x201d;), which the undersigned will be entitled to vote if personally present at the Annual Meeting of the Shareholders of the Company to be held on December&#x00a0;7, 2022, at 9:00&#x00a0;a.m., Beijing Time (December&#x00a0;6, 2022, at 8:00 P.M., Eastern Time), at Building&#x00a0;X<FONT CLASS="nobreak">-702</FONT>, Tower A, 60 Anli Road, Chaoyang District, Beijing, People&#x2019;s Republic of China 100101, and at any adjournment or postponement thereof. The proxies are further authorized to vote, in their discretion, upon such other business as may properly come before the Annual Meeting.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">This proxy, when properly executed, will be voted as directed herein. If no direction is made, the proxy shall be voted &#x201c;FOR&#x201d; the election of each of the nominees to the board of directors, &#x201c;FOR&#x201d; the ratification of the appointment of YCM CPA, Inc., and &#x201c;FOR&#x201d; the approval of the 2022 Share Incentive Plan.</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">In their discretion, the proxies are authorized to vote upon such other matters as may properly come before the Annual Meeting or any postponements or adjournments of the Annual Meeting.</P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Please check here if you plan to attend the Annual Meeting of Shareholders on December&#x00a0;7, 2022, at 9:00&#x00a0;a.m., Beijing Time.&#x00a0;<FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;">&#9744;</FONT></P>
		<P CLASS="Text_flush" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:8pt;">Electronic Delivery of Future Proxy Materials. If you would like to reduce the costs incurred by ReTo Eco<FONT CLASS="nobreak">-Solutions</FONT>, Inc. in mailing materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via email or the internet. To sign up for electronic delivery, please provide your email address below and check here to indicate you consent to receive or access proxy materials electronically in future&#x00a0;years.</P>
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				<TR CLASS="No-Table-Style _idGenTableRowColumn-6" STYLE="height:12pt;">
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;width: 14.42%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">

						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;">Email Address:</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;padding-left:0pt;padding-right:0pt;width: 26.28%; padding: 0in 0in 3px 0in;border-width: 0pt;border-bottom: windowtext 1pt none; border-bottom-style: solid;" VALIGN="bottom">
						<P CLASS="Signature_rule" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:left;text-indent:0;widows:1;">&#x00a0;</P>
					</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;border-bottom-color:#000000;border-bottom-style:solid;padding-left:0pt;padding-right:0pt;width: 1.28%; padding: 0in 0in 3px 0in;border-width: 0pt;white-space: nowrap;" VALIGN="bottom">&#x00a0;</TD>
					<TD CLASS="TB" STYLE="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:bottom;padding-left:0pt;padding-right:0pt;width: 56.73%; padding: 0in 0in 3px 0in;border-width: 0pt;" VALIGN="bottom">
						<P CLASS="Texttable" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;"><FONT CLASS="GrepStyle" STYLE="font-family:'Wingdings 24', sans-serif;">&#9744;</FONT></P>
					</TD>
				</TR>

		</TABLE>
		<P CLASS="H2" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:99;page-break-after:avoid;page-break-before:auto;text-align:justify;text-indent:0;widows:1;text-align:center;margin-top:12pt;"><FONT CLASS="Bold" STYLE="font-style:normal;font-weight:bold;">(Continued and to be signed on Reverse Side)</FONT></P>
		</DIV>

		<P CLASS="LRH" STYLE="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin: 10px 0px 10px 0pt; border-bottom: 1px solid; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">&#x00a0;</P>


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