Exhibit 10.1


 


TSZ-KIT
CHAN EMPLOYMENT AGREEMENT


 


Employment
Agreement


 


This
Employment Agreement (this "Agreement") is entered into in Wuhan, Hubei Province, China on May 10, 2017 by and between:


 


Party
A: Yangtze River Development Limited ("the Company")


Address:
41 John Street, Suite 2A


New
York, NY 10038


Legal
Representative: Xiangyao Liu, President and Chief Executive Officer


 


Party
B: Tsz-Kit Chan


Address:
31C Tower 1B, The Wings 2, Tseung Kwan O, NT, Hong Kong SAR, PRC


 


	Chapter 1	General Provisions




 


1.       Pursuant
to the Labor Law of the People's Republic of China, the Labor Contract Law of the People's Republic of China and other relevant
provisions, the parties hereto have, after mutual discussions and consultations and careful consideration and adequate communications
and understanding, reached the following terms and conditions:


 


	Chapter 2	Term




 


2.       This
Agreement shall have an initial term commencing on May 10, 2017 and ending on May 9, 2018, and shall, subject to Chapter 10 below,
automatically renew for successive one year periods.


 


	Chapter 3	Scope of Work




 


3.       According
to Party A's work requirements, Party B agrees to assume the position of Chief Financial Officer (to carry out works relating
to the listed company). With respect to Party B's job duties, work assignments, responsibility goals, job disciplines, relevant
management policies, etc., the rules formulated by Party A for that job and other relevant provisions shall apply.


 


	Chapter 4	Party B's Obligations




 


4.       Party
B agrees that, in addition to the obligations and responsibilities set forth herein, he or she shall also:


 


4.1.   Within
the specified work hours, contribute his or her time, energy and skills exclusively in fulfilling the obligations established
by Party A and effectively performing his or her duties, in order to exert best efforts to ensure the successful completion of
Party A's assignments; and


 


4.2.   Comply
with the provisions of this Agreement, Party A's internal rules and policies and relevant laws and regulations, and fulfill his
or her duties to Party A.


 






    


     

    

 


	Chapter 5	Work Location, Work Hours, Labor Protection and Work Conditions




 


5.       Party
B shall work at different locations according to business requirements. Party A shall be required to work Monday through Friday
from 9:00 a.m. to 5:00 p.m. Party B's work hours shall be mainly for the purpose of meeting the needs of the listed company. CEO
may change work hours for the needs of the listed company.


 


6.       Party
A shall provide Party B with proper work conditions and facilities and labor protection up to the local government's standards.
Party B shall comply with Party A's labor safety policies.


 


7.       Party
A is responsible for arranging education and trainings to Party B with respect to professional skills, labor safety and hygiene
policies and the Company's articles of association.


 


8.       Party
A shall reimburse Party B's business travel, entertainment and other expenses incurred for work purposes, for which Party B is
obligated to completely provide supporting voucher documents.


 


	Chapter 6	Remunerations




 


9.       Party
B's total remunerations include monthly salary and equity compensation as follows.


 


9.1.   Monthly
salary. Party B is entitled to a monthly salary of US$8,000 which shall be paid for each month on the fifth day of the next month.


 


9.2.   Equity
compensation. Party B is entitled to a share-based compensation of 100,000 shares of the Party A’s common stock for the
Party B’s first year of employment. Party B may also be eligible to participate in incentive plans that Party A may establish
from time to time, subject to the terms and conditions of the applicable plan.


 


	Chapter 7	Benefits and Holidays




 


10.    Party
B shall be entitled to the China public holidays and statutory holidays. Party B who is required to work on public holidays will
be compensated by alternative day(s) off as substitution.


 


10.1. Annual
Leave. Party B is entitled to the paid annual leave pursuant to Party A's vacation policy.


 


10.2. Sick
Leave must be certified by a registered doctor.


 


10.3. Unauthorized
Absences. Without prejudice to the other rights of Party A, Party A may deduct the equivalent amount of basic daily salary from
Party B's salary for every day of absence from employment without the prior permission of Party A.


 






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	Chapter 8	Labor Disciplines




 


11.    Party
B shall comply with Party A's lawfully formulated labor disciplines and the Company's articles of association, strictly abide
by Party A's instructions and decisions, safeguard all the assets of Party A and observe professional ethics.


 


12.    Party
A has the right to make reasonable modifications to the labor disciplines and the Company's articles of association according
to its business needs, provided that Party A shall inform Party B in the forms regarded as proper by Party A, which forms include
but not limited to notification, public announcement, e-mail and memorandum.


 


	Chapter 9	Confidentiality Obligations




 


13.    Party
B shall keep confidential Party A's proprietary information and confidential information concerning Party A and its subsidiaries
and affiliates and its and their respective businesses including without limitation, confidential information regarding suppliers,
customers, products, and marketing and pricing data, as long as such information is not publicly disclosed, except as required
either by law or by a court of competent jurisdiction, and shall comply with Party A's relevant confidentiality policies. Unless
as required either by law or by a court of competent jurisdiction or subject to prior written consent from Party A, Party B shall
not use, or disclose to any third party, any materials or information of Party A.


 


14.    Non-compete.
During the term of Party B's employment hereunder and for a term of two years following termination, Party B shall not initiate,
directly or indirectly, on his own behalf or on behalf of any person, contact with any person who is or was a customer of Party
A within the twelve (12) month period preceding the termination of Party B's employment hereunder, or who was a prospective customer
of Party A with whom Party B had dealings with in the twelve (12) month period preceding the termination of Party B's employment,
for the purpose of conducting any business which is the same as or which competes with any part of the business of Party A with
which Party B was involved.


 


15.    Party
B agrees that Party A shall, according to any reasonable operational needs, whether direct or indirect, have the right to disclose
Party B's personal information, including but not limited to his or her name, address, nationality, position, and salary, this
Agreement and the renewals and changes thereof.


 


	Chapter 10	Change and Termination of Agreement




 


16.    If
any laws and regulations applicable for this Agreement is amended, the corresponding portions hereof or annexes hereto shall be
amended accordingly. In the event of any material change to, or any conflict with relevant Chinese laws and regulations by, any
objective condition on which the entry into the Agreement was based, which makes the performance of the Agreement impossible,
the parties may, after friendly consultation, change the relevant portions of the Agreement pursuant to the relevant laws and
regulations.


 






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17.    During
the term of this Agreement, Party A may terminate this Agreement at any time by giving Party B 30-day prior written notice.


 


18.    During
the term of the Agreement, Party B has the right to resign and terminate the Agreement, provided that he or she shall give a 30-day
prior written notice to Party A.


 


19.    Immediately
upon termination of the Agreement, Party B shall cease its engagement in any activities in Party A's name or complete any business
as Party A so requested, and shall settle all the accounts. Party B shall, within 3 days of the termination hereof, return all
of Party A's assets that are in Party B's possession and deliver all the documents and files (including but not limited to any
written documents and electronic documents). Party A will handle the departure formalities for Party B after Party A's confirmation
and issue a departure consent letter. If Party B fails to complete the said transfer formalities, Party A may refuse to handle
the departure formalities for Party B.


 


	Chapter 11	Resolution of Labor Disputes




 


20.    Any
dispute arising from the interpretation and performance hereof shall be resolved through friendly consultation by the parties.
If such friendly consultation fails, either or both of the parties may, within one year of the occurrence of the dispute, submit
it for arbitration by a labor dispute arbitration committee having jurisdiction over the dispute. In case the parties have no
disagreement as to the arbitral award rendered by such labor dispute arbitration commission, such arbitral award is final and
binding upon the parties. In case the parties refuse to accept the arbitration award made by that labor dispute arbitration committee,
they may file an action with a court of jurisdiction.


 


	Chapter 12	Miscellaneous




 


21.    The
invalidity or non-enforceability of any provision shall not affect the validity of any other provisions hereof.


 


22.    Either
party's failure to perform, or delay in performance of, any of the rights hereunder shall not constitute a waiver of such right.


 


23.    In
the case of any discrepancy between this Agreement and any related laws and regulations, the provisions of such laws and regulations
shall prevail.


 


24.    This
Agreement shall become effective upon signing and affixation of seals by both parties on the date first written above.


 


	Party
    A: Yangtze River Development Limited	 	Party
    B: Tsz-Kit Chan
	 	 	 	 	 
	By:	/s/ Xiangyao
    Liu	 	By:	/s/ Tsz-Kit
    Chan
	Name:	Xiangyao
    Liu	 	 	Tsz-Kit Chan
	Chief
    Executive Officer	 	 	 


 


 


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