Kandi Technologies Group, Inc.: Exhibit 10.16 - Filed by newsfilecorp.com






Employment Contract 

This Employment Contract (this “Contract”) is made and entered
into as of March 20, 2015 by and between Kandi Technologies Group, Inc., a
Delaware Corporation (hereinafter referred to as “Party A”), and Wang Cheng, an
individual (hereinafter referred to as “Party B”, ID# 420106197311197730). 

In consideration that Party A intends to retain Party B as
Party A’s CFO and both parties have reached following agreement through friendly
consultation: 

	1. 	
      Party B shall perform his duties upon the terms and
      conditions as agreed upon by both parties and such other duties as may be
      assigned to him from time to time by Party A’s Chief Executive Officer.
      Party B shall report to the Chief Executive Officer of Party A during the
      Term (as defined in Section 3.1) of this Contract.

	 	 
	2. 	
      Compensation As compensation for the services
      during the Term (as defined in Section 3.1) pursuant to this Contract,
      Party B shall be compensated as follows:




	2.1 	
      Party B’s annual compensation is RMB1,200,000.00, of
      which RMB50,000.00 is monthly fixed compensation and paid according to the
      specified time by Party A, with his individual income tax deducted from
      his fixed compensation in accordance with applicable Chinese tax laws. The
      remaining compensation will be made up at the end of each year. Party A
      shall pay Party B no less than RMB300,000.00 as year-end bonus at the end
      of each year based on Party A’s operating results and Party B’s
      performance. Such bonus can be paid in the form of stocks by Party A. (The
      cash compensation portion above will be paid by Zhejiang Kandi Vehicles
      Co., Ltd. on behalf of Party A.)

	 	 
	2.2 	
      Expense Reimbursement. Party A shall reimburse
      Party B for all reasonable and necessary business-related out-of-pocket
      expenses, including travel, telephone, transportation expenses and others,
      incurred by Party B in performing his duties under this Contract that are
      consistent with applicable policies of Party A during the Term hereunder
      upon presentation by Party B of such documentation and records as Party A
      shall from time to time require.

	 	 
	2.3 	
      Holiday. In addition to statutory holidays
      stipulated by Chinese government, Party B shall get a 10-day paid leave
      and such paid leave shall be used up by March 31 of each year. In case the
      Party B gives up the paid leave, Party A will not make compensation for
      it.








	3. 	
      Term and Termination




	3.1 	
      Term. The valid period of this Contract is 3
      (three) years starting from May 1, 2015 and ending on April 30, 2018. The
      parties can renew the contract upon the expiration of this Contract,
      provided that both parties agree to do so.

	 	 
	3.2 	
      Termination for Cause. Party A reserves the right
      to terminate this Contract by giving written notice of termination to
      Party B 30 days in advance if Party B materially breaches the duties that
      he is required to perform under the terms of this Contract, or if Party B
      commits such acts of dishonesty, fraud, misrepresentation, gross
      negligence, willful misconduct as would prevent the effective performance
      of the duties or which results in material harm to Party A or its
      business. In the event Party A terminates the Contract pursuant to this
      section, Party B shall be entitled to receive any accrued and unpaid
      amounts earned pro rata through the date of such termination. Party A
      shall also pay to Party B all previously accrued but unpaid expense
      reimbursements under Section 2.2 and 2.3 at the time of
  termination.




	4. 	
      Confidential Information, Noncompetition and
      Cooperation.




	4.1 	
       Confidential Information. As used in this
      Contract, “Confidential Information” means information which is of value
      to Party A in the course of conducting its business and the disclosure of
      which could result in a competitive or other disadvantage to Party A,
      therefore, Party B is obligated to keep such information secret.
      Confidential Information includes, without limitation, financial
      information, reports, and forecasts; inventions, improvements and other
      intellectual property; trade secrets; know-how; designs, processes or
      formulae; software; market or sales information or plans; Party A’s
      customer lists; and business plans, prospects and opportunities (such as
      possible acquisitions or dispositions of businesses or facilities) which
      have been discussed or considered by the management of Party A.
      Confidential Information includes information developed by Party B in the
      course of Party B’s engagement by Party A, as well as other information to
      which Party B may have access in connection with Party B’s engagement.
      Confidential Information also includes the confidential information of
      others with which Party A has a business relationship. Notwithstanding the
      foregoing, Confidential Information does not include information in the
      public domain and information have been disclosed to public by Party A,
      unless in the public domain due to breach of Party B’s duties under
      Section 4.2.

	 	 	 
	4.2 	
      Confidentiality. Party B understands and agrees
      that this Contract creates a relationship of confidence and trust between
      Party B and Party A with respect to all Confidential Information. At all
      times, both during Party B’s engagement with Party A and after its
      termination, Party B will keep in confidence and trust all
  such Confidential Information, and will not use or disclose any such Confidential
Information without the written consent of Party A, except as may be necessary in
the ordinary course of performing Party B’s duties for Party A.








	4.3 	
      Documents, Records, etc. All documents, records,
      data, apparatus, equipment and other physical property, whether or not
      pertaining to Confidential Information, which are furnished to Party B by
      Party A or are produced by Pary B in connection with Party B’s engagement
      will be and remain the sole property of Party A. Party B will return to
      Party A all such materials and property as and when requested by Party A.
      In any event, Party B will return all such materials and property
      immediately upon termination of Party B’s engagement for any reason. Party
      B will not retain with him any such material or property or any copies
      thereof after such termination.

	 	 
	4.4	
       Noncompetition and Nonsolicitation. Without
      the prior written consent of the Board of Directors of Party A, during the
      period that Party B is engaged by Party A and for two (2) years
      thereafter, Party B:




		4.4.1 	
      will refrain from soliciting or encouraging any customer
      or supplier to terminate or otherwise modify adversely its business
      relationship with Party A; 

	 	 	
       

		4.4.2 	
      will not, directly or indirectly, whether as owner,
      partner, shareholder, consultant, agent, employee, co-venturer or
      otherwise, engage, participate, assist or invest in any Competing
      Business. 

	 	 	
       

		4.4.3 	
      will refrain from directly or indirectly employing,
      attempting to employ, recruiting or otherwise soliciting, inducing or
      influencing any person to leave employment with Party A. Party B
      understands that the restrictions set forth in this Section 4.4 are
      intended to protect Party A’s interest in its Confidential Information and
      established employee, customer and supplier relationships and goodwill,
      and agrees that such restrictions are reasonable and appropriate for this
      purpose. For purposes of this Contract, the term “Competing Business”
      shall mean any business that provides or intends to provide the same or
      similar types of services or products as those provided or targeted by
      Party A or any of its subsidiaries in any geographic area then served or
      targeted by Party A or any of its subsidiaries.





	4.5 	
      Injunction. Party B agrees that it would be
      difficult to measure any damages caused to Party A which might result from
      any breach by Party B of the promises set forth in this Section 4, and
      that in any event money damages would be an inadequate remedy for any such
      breach. Pary B serves as an employee engaged by Party A, Party A may not,
      on the ground of this section, recover from Party B in terms of Party B’s
      labor remuneration already paid by Party A.








	5. 	
      Settlement of Disputes and Miscellaneous Provisions.
      Any dispute and other outstanding issues arising out of performance of
      this Contract may be settled by reference to related PRC laws and
      regulations. 

	 	
      

	6. 	
      This Contract is induplicate, each of the parties holds
      one copy, shall come into force upon signatures.





	Party A 	 	Party B 
	 	 	 
	/s/Hu
      Xiaoming	 	/s/Wang Cheng 
	 	 	 
	Hu Xiaoming 	 	Wang Cheng 
	 	 	 
	President and CEO 	 	  
	 	 	 
	Date: 	   3/20/2015 	 	Date: 	   3/20/2015