<50 points> Simple English contract translation

This is the fourth post I have translated. This post is partially duplicated by another post. Please review it together

Article 2. Term

Article 2 Term of Agreement

2.1 This Agreement shall become effective upon its execution by the parties hereto and shall continue in force for 12 months from the execution date of the Agreement unless earlier terminated under Article 3.

2.1 This Agreement will take effect once executed by both parties and will continue to be in force for 12 months from the execution date of the Agreement unless earlier terminated under Article 3. Early termination in accordance with paragraph 3

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2.2 This term may be amended by the parties mutual agreement, if required, during the performance of the Services hereunder.

2.2 During the performance of the Services hereunder. The term of the agreement can be modified by mutual consent of both parties.

Article 3. Termination

Termination of Article 3

3.1 Either party may terminate this Agreement if the other party commits a material breach of this Agreement and such breach is either not curable, or not cured by defaulting party within (15) days from the date when the defaulting party received the written notice from the non-defaulting party, or if either party making an assignment for the benefit of creditors, or being adjudged bankrupt, or insolvent, or filing any petition seeking for itself any arrangement for dissolution and liquidation of its interests.

3.1 Either party may terminate this agreement if 1) the other party commits a material breach of contract, and Such a breach is not curable, or in other words, such a breach cannot be cured by the defaulting party within 15 days from the date it receives written notice from the non-defaulting party, or 2) either party makes an assignment for the benefit of creditors , or has been judged to be bankrupt or insolvent, or is filling out a petition to seek arrangements for the dissolution and liquidation of its own equity.

3.2 Notwithstanding the above circumstances, Part A may terminate at any time this Agreement by giving to Part B thirty days prior written termination notice without any reason.

3.2 Notwithstanding the above, Party B can still terminate this agreement at any time without any reason by submitting a written notice of termination to Party B 30 days in advance.

3.3 If this Agreement is terminated for any reason attributable Part A before the term expires, Part A will pay the costs and expenses actually used and incurred in accordance with the Part B's prompt written report within the limitation of Consultant Fee.

3.3 If this agreement is terminated for any reason attributable to Party A before the end of the agreement period, Party A will pay the actual costs used and incurred in accordance with Party B’s immediate written report within the scope of consulting fee liability. spend.

3.4 If this Agreement is terminated for any reason attributable Part B before the term expires, Part B will pay ten percent (10%) of the Consultant Fee as liquidated damages.

3.4 If this agreement is terminated for any reason attributable to Party B before the end of the agreement period, Party B will pay 10% of the consulting fee as agreed loss compensation.

Article 4. Consultant Fee

Article 4 Consultant Fee

4.1 In consideration of the Service rendered by Part B, Part A agrees to pay Part B CNY500 ,000 as Part B's consultant fee ("Consultant Fee") against Part B's invocies.

4.1 Considering the services performed by Party B, Party A agrees to pay Party B RMB 500,000 as Party B's invocies. Consultant fees (consultant fees) for party invoices.

4.2 The Consultant Fee shall be paid to Part B by the end of December.

4.2 The Consultant Fee shall be paid to Party B at the end of December.

Article 5. Reimbursable Expenses

Recoverable Expenses in Paragraph 5

5.1 Following expenses incurred by Part B relating to this Agreement (“Reimbursable Expenses”) shall be reimbursed by Part A to Part B subject to the Part A's prior written consent for which Part B shall provide Part A with the ten(10)days prior written notice describing the situation and estimated Reimbursable Expenses:

a . Travel (business class international), accommodation;

b. translation, and communication;

5.1 The following expenses (recoverable expenses) incurred by Party B in connection with this agreement shall be Reimbursed by Party A to Party B, subject to Party A's prior consent and for which Party B will provide Party A with 10 days' written notice in advance stating the situation and estimated recoverable expenses:

a. Travel expenses (international business class), food and accommodation expenses;

b. Translation fees and communication fees;

5.2 Part B shall provide Part A with the invoice for Reimbursable Expenses together with the detailed record for and documents evidencing such Reimbursable Expenses, and the Reimbursable Expenses shall be made concurrently with the invoice for the Consultant Fee specified in Article 4. Part B shall keep the record for all Reimbursable Expenses on a generally recognized accounting basis and such record for Reimbursable Expenses shall be available to Part A or Part A's authorized representative for review.

< p>5.2 Party B shall provide Party A with invoices for recoverable expenditures, accompanied by detailed records of these recoverable expenditures and documents evidencing these recoverable expenditures, and the recoverable expenditures shall be consistent with the invoice for the consulting fees specified in Clause 4 Proceed in parallel. Party B shall retain records of all recoverable expenditures in accordance with generally accepted accounting principles, and such records of recoverable expenditures shall be available to Party A, or Party A's authorized representative, for review.

5.3 Notwithstanding foregoing, all Reimbursable Expenses shall not exceed ten percent (10%) of total Consultant Fee

5.3 Notwithstanding the above, all Reimbursable Expenses shall not exceed ten percent (10%) of total Consultant Fee 10% of the fee.