Exhibit
10.1


 


EXECUTIVE
EMPLOYMENT AGREEMENT


 


THIS
EMPLOYMENT AGREEMENT (the “Agreement”), entered into as of July 1, 2021 (the “Effective Date”), is entered into
by and between HENGFAI BUSINESS DEVELOPMENT PTE. LTD. (the “Company”), CHAN TUNG MOE (the “Executive”),
and ALSET EHOME INTERNATIONAL INC. (“AEI”). The Executive, under this Agreement shall provide services to both the
Company and ALSET EHOME INTERNATIONAL INC. (“AEI”) as set forth under Section 2 herein.


 


	1.	Term
    of Employment. The Company agrees to employ Executive, and Executive agrees to work for the Company and AEI, upon
    the terms set forth in this Agreement, for the period commencing on July 1, 2021 and ending on June 30, 2024 (the “Term”).
    This Agreement shall terminate in accordance with the provisions of Section 4, below.
	 	 
	2.	Title;
    Capacity. The Company will employ and compensate Executive for all services rendered to the Company, and Executive
    agrees to provide his services to the Company and AEI as Co-Chief Executive Officer and to perform the duties and responsibilities
    inherent to such position (including travel, as required); Executive also agrees to perform all other duties and responsibilities
    consistent with such position as the Company’s Board of Directors (the “Board”) and the Board of Directors of AEI
    shall from time to time assign to him. Executive shall report directly to the Board of the Company and the Board of AEI and shall
    be subject to the supervision of each such Board. Executive shall also have such authority as is delegated to him by each such Board,
    which authority shall be sufficient to perform his duties hereunder.
	 	 
	3.	Compensation,
    Benefits and Equity.
	 	 
	3.1	Salary.
    The Company shall pay Executive a monthly base salary of USD$10,000 less applicable payroll withholding, which shall be payable
    in accordance with the Company’s customary payroll practices (the “Base Salary”) payable on a monthly basis.
	 	 
	3.2	Signing
    Bonus. Within thirty (30) days of the commencement of the Term, the Company shall pay to Executive a signing cash bonus in the
    amount of USD$60,000.
	 	 
	3.3	Benefits.
    Executive shall be entitled to participate in all benefit programs and allowances that the Company establishes and makes available
    to its executive employees, including eligibility for all Company benefit plans, including but not limited to, health care coverage,
    profit sharing, car allowance, cell phone and data usage payment or reimbursement, home and office internet and computer supply equipment.
    The Executive understands that, except when prohibited by applicable law, the Company’s benefit plans, and fringe benefits
    may be amended by the Company from time to time in its sole discretion.
	 	 
	 	The
    Executive shall be entitled to four (4) weeks of paid vacation time per year during the terms of this Agreement commencing immediately
    with the execution of this Agreement. All other terms of the Executive’s vacation shall be subject to the Company’s vacation
    policy, as it exists or is subsequently modified.
	 	 
	3.4	Expenses.
    The Company shall reimburse Executive for reasonable travel, entertainment, mileage, and other business expenses incurred by
    Executive in the performance of his duties hereunder in accordance with the Company’s general policies, as amended from time
    to time.


 




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	4.	Termination
    of Executive’s Employment
	 	 
	a)	By
    the Company. Either the Company or AEI may terminate the Executive’s employment at any time, with or without “Cause,”
    upon written notice by the Company or AEI to the Executive, and the Executive’s employment will terminate on the day specified
    in such notice. For the purposes of this Agreement, “Cause” means: (i) the Executive’s conviction of (or Executive
    pleads nolo contendere to) a felony or misdemeanor involving dishonesty, fraud, breach of trust, moral turpitude, or a crime
    leading to incarceration of more than sixty (60) days; (ii) the Executive’s material breach of this Agreement; (iii) Executive’s
    continued failure in any material respects with the performance of his/her employment duties for more than ten (10) business days
    (other than due to illness, disability, and vacation) after having received written notice specifying the nature of the failure;
    (iv) commission by the Executive of any act of fraud, dishonesty, or embezzlement against the Company or AEI, or any subsidiary or
    customer thereof; (v) the Executive reporting to work while impaired under the influence of alcohol or drugs, or the Executive’s
    use or distribution of illegal narcotics; (vi) the Executive’s commission of any illegal act of violence against an employee,
    customer, or vendor of the Company or AEI; (vii) willful disregard of any reasonable instruction of the Board of the Company or AEI
    relating to a material matter of the Company or AEI; and (viii) Executive’s violation of any material law, statue, or regulation
    relating to the business of the Company or AEI.
	 	 
	b)	By
    the Executive. The Executive may terminate his employment with the Company and AEI at any time with or without “Good Reason”
    upon written notice by the Executive to the Company and AEI, and the Executive’s employment will terminate on the date specified
    in the notice. “Good Reason” means: (i) a material reduction in the Executive’s compensation or benefits; (ii)
    a material breach by the Company or AEI of this Agreement; or (iii) a material reduction or material change in the Executive’s
    original duties, responsibilities or authority
	 	 
	c)	Death.
    Executive’s employment hereunder shall be terminated immediately upon death of the Executive.
	 	 
	d)	Disability
    of Executive. This Agreement may be terminated immediately upon the disability of the Executive. For purposes of this Agreement,
    “Disability” shall mean if Executive has a mental or physical condition that prevents Executive from carrying out the
    essential duties of his/her employment position for a period greater than three (3) months, notwithstanding the Company’s and
    AEI’s reasonable accommodations (to the extent required by law)
	 	 
	e)	Mutual
    Agreement of Parties. This Agreement shall terminate upon the mutual agreement of the parties.
	 	 
	f)	Effects
    of Termination. In the event that Executive’s employment is terminated by the Company or AEI without “Cause”
    or by similar premise, or by the Executive for “Good Reason”, then the Executive shall be entitled to payment for: (i)
    unpaid Base Salary, prorated to the date of termination or resignation; (ii) accrued and unused vacation pay, (iii) any benefits
    accruing to Executive under the terms and conditions of any then-existing employee benefit plan; (iv) three (3) months of Base Salary;
    (v) three (3) months of paid health insurance benefits, (vi) reimbursement of expenses incurred prior to termination in accordance
    with Section 3.4.; and (vii) benefits as required by law.
	 	 
	g)	Termination
    “For Cause” or due to the Executive’s resignation “Without Good Reason”. In the event of the Executive’s
    employment is terminated: (i) by the Company or AEI for “Cause”, or (ii) if the Executive resigns without “Good
    Reason”, then the Executive shall be entitled to payment for: (i) unpaid Base Salary, prorated to the date of termination or
    resignation; (ii) accrued and unused vacation pay, (iii) any benefits accruing to Executive under the terms and conditions of any
    then existing employee benefit plan; (iv) reimbursement of expenses incurred prior to termination in accordance with Section 3.4.;
    and (v) benefits as required by law.


 




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	h)	Termination
    due to the Executive’s Death or Disability. In the event that Company or AEI terminates Executive’s employment prior
    to expiration of the Term due to the Executive’s Death or Disability, then the Executive shall be entitled to payment for:
    (i) unpaid Base Salary, prorated to the date of the Executive’s Death or Disability; (ii) accrued and unused vacation pay,
    (iii) any benefits accruing to Executive under the terms and conditions of any then- existing employee benefit plan; (iv) reimbursement
    of expenses incurred prior to Death or Disability in accordance with Section 3.4.; and (v) benefits as required by law.
	 	 
	5.	Nondisclosure
    and Proprietary Information.
	 	 
	5.1	Proprietary
    Information.
	 	 
	(a)	Executive
    agrees that all information and know-how, whether or not in writing, of a private, secret or confidential nature concerning the business
    or financial affairs of the Company and AEI (collectively, “Proprietary Information”) is and shall be the exclusive property
    of the Company or AEI, as applicable. By way of illustration, but not limitation, Proprietary Information may include inventions,
    products, processes, methods, techniques, formulas, designs, drawings, slogans, tests, logos, ideas, practices, projects, developments,
    plans, research data, financial data, personnel data, computer programs, and customer and supplier data, or other materials or information
    relating to the Company’s or AEI’s business and activities and the manner in which the Company or AEI does business.
    Executive will not disclose any Proprietary Information to others outside the Company or AEI except in the performance of his duties
    or use the same for any unauthorized purposes without written approval by an officer of the Company or AEI, either during or after
    his employment, unless and until such Proprietary Information has become public knowledge or generally known within the industry
    without fault by Executive, or unless otherwise required by law.
	 	 
	(b)	Executive
    agrees that all files, letters, memoranda, reports, records, data, sketches, drawings, laboratory notebooks, program listings, or
    other written, photographic, electronic or other material containing Proprietary Information, whether created by Executive or others,
    which shall come into his custody or possession, shall be and are the exclusive property of the Company or AEI to be used by Executive
    only in the performance of his duties for the Company or AEI.
	 	 
	(c)	 Executive
    agrees that his obligation not to disclose or use information, know-how and records of the types set forth in paragraphs (a) and
    (b) above, also extends to such types of information, know-how, records and tangible property of subsidiaries and joint ventures
    of the Company or AEI, customers of the Company or AEI or suppliers to the Company or AEI or other third parties who may have disclosed
    or entrusted the same to the Company or AEI or to Executive in the course of the business and Company and AEI.
	 	 
	(d)	 Nothing
    in this Agreement prohibits Executive from reporting possible violations of federal law or regulation to any governmental agency
    or enforcement entity, or from making other disclosures that are protected under applicable whistleblower provisions of federal law
    and regulation.


 




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	5.2	Other
    Agreements. Executive represents that his performance of all the terms of this Agreement as an employee of the Company and AEI
    does not and will not breach any (i) agreement to keep in confidence proprietary information, knowledge or data acquired by him in
    confidence or in trust prior to his employment with the Company and AEI or (ii) agreement to refrain from competing, directly or
    indirectly, with the business of any previous employer or any other party. Executive represents that all information Executive provided
    to the Company and AEI regarding Executive’s education, work background, experience and lack of post-employment restrictions
    are all true and accurate and each of the Company and AEI is entitled to rely on such representations.
	 	 
	5.3	Other
    Business Exception. The Company and AEI each acknowledges that the Executive is also involved in the management of personal and
    family investments, banking and finance, and has multiple investments around the world, and is a board member of other publicly traded
    companies and non-publicly traded companies. It is expressly understood by the Company and AEI that the Executive is allowed to continue
    to be involved in these activities. This Agreement shall not limit the Executive’s ability to receive compensation from other
    business for services rendered as an employee, officer, director or consultant, including but not limited to any compensation which
    may be paid by any entity affiliated with the Company or AEI.
	 	 
	6.	Indemnification.
    Each of the Company and AEI hereby agrees to indemnify the Executive to the fullest extent permitted by applicable law for
    any and all sums owed by Executive in connection with any judgments rendered against Executive in connection with or as a result
    of Executive’s service as an officer of the Company and AEI, and any and all legal and related fees incurred in connection
    with the Executive’s defense. At the Executive’s request, the Company and AEI shall as promptly as possible acquire directors
    and officers insurance to include coverage for any and all activities related to the Executive’s service as an officer of the
    Company and AEI, in a manner and amount typical for companies of the size and activity of the Company and AEI. The amounts and type
    of such coverage shall be reviewed and updated from time to time, and no less frequently than annually.
	 	 
	7.	Notices.
    All notices required or permitted under this Agreement shall be in writing and shall be deemed effective upon (a) the date of
    receipt, if sent by personal delivery (including delivery by reputable overnight courier), or (b) the date of receipt or refusal,
    if posted in Singapore, by registered or certified mail, postage prepaid and return receipt requested, or (c) the date of receipt
    if sent by e-mail PDF or facsimile transmission to the e-mail address or facsimile number of record of Executive or the Company or
    AEI, or at such other place as may from time to time be designated by either party in writing.
	 	 
	8.	Entire
    Agreement. This Agreement, and those documents referenced herein, constitute the entire agreement between the parties
    and supersede all prior agreements and understandings, including prior employment agreements, whether written or oral relating to
    the subject matter of this Agreement. Signatures affixed to this Agreement may be delivered in e-mail PDF form and any such signatures
    shall be deemed original signatures for purposes of the validity and enforceability of this Agreement.
	 	 
	9.	Amendment.
    This Agreement may be amended or modified only by a written instrument executed by all the parties hereto.
	 	 
	10.	Governing
    Law. This Agreement shall be construed, interpreted and enforced in accordance with the laws of Singapore, applied
    without giving effect to any conflicts- of-law principles. Any action or proceeding relating to this Agreement or Executive’s
    employment shall be in Singapore.
	 	 
	11.	Assumption
    by Successors. Any successor of the Company or AEI shall succeed to all of the Company’s and AEI’s duties,
    obligations, rights and benefits hereunder. The obligations of Executive are personal and shall not be assigned by him.
	 	 
	12.	No
    Waiver. No delay or omission by a party in exercising any right under this Agreement shall operate as a waiver of
    that or any other right. A waiver or consent given by a party on any one occasion shall be effective only in that instance and shall
    not be construed as a bar or waiver of any right on any other occasion.
	 	 
	13.	Severability.
    In case any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability
    of the remaining provisions shall in no way be affected or impaired thereby.
	 	 
	14.	Survival.
    Upon the termination of the Term and any termination of this Agreement, the obligations of the parties under Sections 4, 5 and 6
    shall survive and continue in effect in accordance with their terms.


 




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IN
WITNESS WHEREOF, the undersigned parties have executed this Agreement effective on the date and year first above written.


 


Signed
by:


 


	/s/
    Chan Tung Moe	 
	CHAN
    TUNG MOE (Executive)	 
	 	 	 
	ALSET
    EHOME INTERNATIONAL INC.	 
	 	 	 
	By:	 /s/
    William Wu                   	 
	Title:
    	 Director 	 
	Date:
    	 July
    1, 2021 	 


 


	HENGFAI
    BUSINESS DEVELOPMENT PTE. LTD	 
	 	 	 
	By:
    	/s/
    Chan Heng Fai Ambrose  	 
	Title:
    	 Director 	 
	Date:
    	 July
                                            1, 2021 
	 


 






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