Exhibit 10.11


 


EMPLOYMENT
AGREEMENT


 


This
EMPLOYMENT AGREEMENT (the “Agreement”), is entered into as of June 19, 2020, by and between Ostin Technology Group
Co., Ltd., a Cayman Islands exempted company (the “Company”) and Qiaoyun Xie, an individual (the “Executive”).
Except with respect to the direct employment of the Executive by the Company, the term “Company” as used herein with respect
to all obligations of the Executive hereunder shall be deemed to include Company and all of its subsidiaries and variable interest entity
(collectively, the “Group”).


 


RECITALS


 


WHEREAS,
the Company desires to employ the Executive as its Chief Financial Officer and to assure itself of the services of the Executive during
the term of Employment (as defined below); and


 


WHEREAS,
the Executive desires to be employed by the Company as its Chief Financial Officer during the term of Employment and upon the terms and
conditions of this Agreement.


 


NOW,
THEREFORE, in consideration of the mutual promises set forth in this Agreement, the parties agree as follows:


 


	1.  	POSITION


 


The
Executive hereby accepts the position of Chief Financial Officer (the “Employment”) of the Company.


 


	2.  	TERM


 


Subject
to the terms and conditions of this Agreement, the initial term of the Employment shall be two (2) years commencing on June 19, 2020
(the “Effective Date”), unless terminated earlier pursuant to the terms of this Agreement. The Employment will be
renewed automatically for additional one (1) year terms if neither the Company nor the Executive provides a notice of termination of
the Employment to the other party within thirty (30) days prior to the expiration of the applicable term.


 






    


     


    

 


	3.  	DUTIES
    AND RESPONSIBILITIES
	 	 


	(a)	The
    Executive’s duties at the Company will include all the duties and responsibilities associated with a Chief Financial Officer
    of a U.S. listed public company with primary operations in the People’s Republic of China. As Chief Financial Officer of the
    Company, the Executive shall be primarily responsible for all financial and strategic aspects of the business of the Company, including
    the development and implementation of the strategic development plans of the Company and preparation and review of the financial
    operations and financial statements of the Company, as well as all tasks and responsibilities normally associated with the office
    of a Chief Financial Officer of a business of similar size and nature to the Company. During the term of her Employment, Executive
    shall report to and be responsible to the Company’s board of directors (including any designated audit or other committee thereof)
    (the “Board”). Executive shall also perform such other duties and responsibilities as may be determined by the
    Board, as long as such duties and responsibilities are consistent with those of the Company’s Chief Financial Officer.
	 	 


	(b)	

    The
    Executive shall faithfully and diligently serve the Company and the Group in accordance with this Agreement, the memorandum and articles
    of association of the Company, as amended and restated from time to time, and the guidelines, policies and procedures of the Company
    approved from time to time by the Board.

	 	 


	(c)	The
    Executive shall use her best efforts to perform her duties hereunder. shall not be concerned or interested in any business
    or entity that engages in the same business in which the Company or any member of the Group engages (any such business or entity,
    a “Competitor”), provided that nothing in this clause shall preclude the Executive from holding less than one
    percent (1%) of the outstanding equity of any Competitor that is listed on any securities exchange or recognized securities market
    anywhere. The Executive shall notify the Company in writing of her interest in such shares or securities in a timely manner and with
    such details and particulars as the Company may reasonably require.


 


	4.  	NO
    BREACH OF CONTRACT


 


The
Executive hereby represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance
by the Executive of her duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement
or policy to which the Executive is a party or otherwise bound except for agreements entered into by and between the Executive and any
member of the Group pursuant to applicable law, if any; (ii) that the Executive has no information (including, without limitation,
confidential information and trade secrets) relating to any other person or entity which would prevent, or be violated by, the Executive
from entering into this Agreement or carrying out her duties hereunder; (iii) that the Executive is not bound by any confidentiality,
trade secret or similar agreement (other than this) with any other person or entity except for other member(s) of the Group, as the case
may be.


 


	5.  	LOCATION


 


The
Executive will be based in Nanjing, Jiangsu Province, China. The Company reserves the right to transfer or second the Executive to any
location in China or elsewhere in accordance with its operational requirements.


 






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		6.	COMPENSATION
AND BENEFITS



 


		(a)	Base
Salary. The Executive’s initial after-tax base salary shall be one dollar ($1) per year, paid monthly in arrears in accordance
with the Company’s regular payroll practices, and such compensation is subject to annual review and adjustment by the Board in
its sole discretion.  The Executive shall also be entitled to receive salary, as and in the amount approved by the Board, from
any member of the Group. The amount shall be paid to the designated bank account of the Executive at each month end.


 


		(b)	Bonus.
The Executive shall be eligible for cash bonuses as determined by the Board in its sole discretion.



 





		(c)	Benefits.
The Executive is eligible for participation in any standard employee benefit plan of the Company that currently exists or may be adopted
by the Company in the future, including, but not limited to, any retirement plan, life insurance plan, health insurance plan and travel/holiday
plan, provided that such plans shall be subject to review and approval by the Board.



 


		(d)	D&O
Insurance. The Company shall use its commercially reasonable efforts to purchase a director and officer insurance policy and include
the Executive as an insured officer under such policy during the term of Executive’s employment.



 


		(f)	Expenses.
The Executive shall be entitled to reimbursement by the Company for all reasonable ordinary and necessary travel and other expenses incurred
by the Executive in the performance of her duties under this Agreement, provided that he properly accounts for such expenses in accordance
with the Company’s policies and procedures.



 


		7.	TERMINATION
OF THE AGREEMENT



 


		(a)	By the
Company.



 


		(i)	For Cause. The Company may terminate the Employment for cause,
at any time, without notice or remuneration (unless notice or remuneration is specifically required by applicable law, in which
case notice or remuneration will be provided in accordance with applicable law), if:



 


		(1)	the Executive is convicted or pleads guilty to a felony or
to an act of fraud, misappropriation or embezzlement;



 


		(2)	the Executive has been grossly negligent or acted dishonestly
to the detriment of the Company;



 


		(3)	the Executive has engaged in actions amounting to willful
misconduct or failed to perform her duties hereunder and such failure continues after the Executive is afforded not less than fifteen
(15) days to cure such failure; or



 






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		(4)	the Executive violates Sections 8, 9 or 10 of this Agreement.



 


Upon termination for “cause”,
the Executive shall be entitled to the amount of base salary earned and not paid prior to termination. However, the Executive will
not be entitled to receive payment of any severance benefits or other amounts by reason of the termination, and the Executive’s
right to all other benefits will terminate, except as required by any applicable law.


 


		(ii)	For Death and Disability. The Company may also terminate
the Employment, at any time, without notice or remuneration (unless notice or remuneration is specifically required by applicable
law, in which case notice or remuneration will be provided in accordance with applicable law), if:



 


		(1)	the Executive has died, or



 


		(2)	the Executive has a disability which shall mean a physical
or mental impairment which, as reasonably determined by the Board, renders the Executive unable to perform the essential functions of
her employment with the Company, with or without reasonable accommodation, for more than 120 days in any 12-month period, unless a longer
period is required by applicable law, in which case that longer period would apply.



 


Upon termination for death or disability,
the Executive shall be entitled to the amount of base salary earned and not paid prior to termination. However, the Executive will
not be entitled to receive payment of any severance benefits or other amounts by reason of the termination, and the Executive’s
right to all other benefits will terminate, except as required by any applicable law.


 


		(iii)	Without Cause. The Company may terminate the Employment without
cause, at any time, upon thirty (30) days’ prior written notice. Upon termination without cause, the Company shall provide the
following severance payments and benefits to the Executive: a cash payment of three months of the Executive’s base salary as of
the date of such termination.



 


Upon termination without cause, the Executive
shall also be entitled to the amount of base salary earned and not paid prior to termination.


 


In order to be eligible for, and as a condition
precedent for the payment of, the severance payments and benefits under this Section 7(a)(iii), the Executive must execute and deliver
to the Company a general release of the Company and all members of the Group and their affiliates in a form reasonably satisfactory to
the Board.


 






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(iv) Change of Control Transaction. If the
Company or its successor terminates the Employment upon a merger, consolidation, or transfer or sale of all or substantially all
of the assets of the Company with or to any other individual(s) or entity (the “Change of Control Transaction”), the
Executive shall be entitled to the following severance payments and benefits upon such termination: (1) a lump sum cash payment equal
to three months of the Executive’s base salary at a rate equal to the greater of her annual salary in effect immediately prior to
the termination, or her then current annual salary as of the date of such termination; (2) a lump sum cash payment equal to a pro-rated
amount of her target annual bonus for the year immediately preceding the termination; (3) payment of premiums for continued health
benefits under the Company’s health plans for three months following the termination; and (4) immediate vesting of 100% of
the then-unvested portion of any outstanding equity awards held by the Executive.


 


		(b)	By
the Executive. The Executive may terminate the Employment at any time with thirty (30) days’ prior written notice to the Company
without cause, if (1) there is a material reduction in the Executive’s authority, duties and responsibilities unless such
reduction was made with her consent, or (2) there is a material reduction in the Executive’s annual salary (the occurrences
in (1) and (2) being referred to as “Good Reason”). Upon the Executive’s termination of the Employment due to
either of the above reasons, the Company shall provide compensation to the Executive equivalent to three months of the Executive’s
base salary that he is entitled to immediately prior to such termination. In addition, the Executive may resign prior to the expiration
of the Agreement if such resignation is approved by the Board or an alternative arrangement with respect to the Employment is agreed
to by the Board.



 


In order to be eligible for, and as a condition
precedent for the payment of, the severance payments and benefits under this Section 7(b), the Executive must execute and deliver to the
Company a general release of the Company and all members of the Group and their affiliates in a form reasonably satisfactory to the Board.


 


	(c)	Notice
of Termination. Any termination of the Executive’s employment under this Agreement shall be communicated by written notice
of termination from the terminating party to the other party. The notice of termination shall indicate the specific provision(s) of this
Agreement relied upon in effecting the termination.
	 	 



	8.	CONFIDENTIALITY
AND NONDISCLOSURE
	 	 



		(a)	Confidentiality
and Non-Disclosure. The Executive hereby agrees at all times during the term of the Employment and after its termination, to hold
in the strictest confidence, and not to use, except for the benefit of the Company, or to disclose to any person, corporation or other
entity without written consent of the Company, any Confidential Information. The Executive understands that “Confidential Information”
means any proprietary or confidential information of the Company, its affiliates, or their respective clients, customers or partners,
including, without limitation, technical data, trade secrets, research and development information, product plans, services, customer
lists and customers, supplier lists and suppliers, software developments, inventions, processes, formulas, technology, designs, hardware
configuration information, personnel information, marketing, finances, information about the suppliers, joint ventures, franchisees,
distributors and other persons with whom the Company does business, information regarding the skills and compensation of other employees
of the Company or other business information disclosed to the Executive by or obtained by the Executive from the Company, its affiliates,
or their respective clients, customers or partners either directly or indirectly in writing, orally or otherwise, if specifically indicated
to be confidential or reasonably expected to be confidential. Notwithstanding the foregoing, Confidential Information shall not include
information that is generally available and known to the public through no fault of the Executive.



 






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	(b)	Company
    Property. The Executive understands that all documents (including computer records, facsimile and e-mail) and materials created,
    received or transmitted in connection with her work or using the facilities of the Company are property of the Company and subject
    to inspection by the Company, at any time. Upon termination of the Executive’s employment with the Company (or at any other
    time when requested by the Company), the Executive will promptly deliver to the Company all documents and materials of any nature
    pertaining to her work with the Company and will provide written certification of her compliance with this Agreement. Under
    no circumstances will the Executive have, following her termination, in her possession any property of the Company, or
    any documents or materials or copies thereof containing any Confidential Information.
	 	 
	(c)	Former
    Employer Information. The Executive agrees that she has not and will not, during the term of her employment, (i) improperly
    use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive
    has an agreement or duty to keep in confidence information acquired by Executive, if any, or (ii) bring into the premises of
    the Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented
    to in writing by such former employer, person or entity. The Executive will indemnify the Company and hold it harmless from and against
    all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of suit, arising out of or in
    connection with any violation of the foregoing.


 


	(d)	Third
    Party Information. The Executive recognizes that the Company may have received, and in the future may receive, from third parties
    their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such
    information and to use it only for certain limited purposes. The Executive agrees that the Executive owes the Company and such third
    parties, during the Executive’s employment by the Company and thereafter, a duty to hold all such confidential or proprietary
    information in the strictest confidence and not to disclose it to any person or firm and to use it in a manner consistent with, and
    for the limited purposes permitted by, the Company’s agreement with such third party.
	 	 


 






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This
Section 8 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 8,
the Company shall have right to seek remedies permissible under applicable law.


 


		9.	CONFLICTING
EMPLOYMENT


 


The
Executive hereby agrees that, during the term of her employment with the Company, she will not engage in any other employment, occupation,
consulting or other business activity related to the business in which the Company is now involved or becomes involved during the term
of the Executive’s employment, nor will the Executive engage in any other activities that conflict with her obligations to the
Company without the prior written consent of the Company.


 


		10.	NON-COMPETITION
AND NON-SOLICITATION


 


In
consideration of the salary paid to the Executive by the Company, the Executive agrees that during the term of the Employment and for
a period of twelve (12) months following the termination of the Employment for whatever reason:


 


	(a)	The
    Executive will not approach clients, customers or contacts of the Company or the Group, users of the Company’s or the Group’s
    services, or other persons or entities introduced to the Executive in the Executive’s capacity as a representative of the Company
    or the Group for the purposes of doing business with such persons or entities which will harm the business relationship between the
    Company or the Group and such persons and/or entities;


 


	(b)	the
    Executive will not assume employment with or provide services as a director, consultant or otherwise for any Competitor, or engage,
    whether as principal, partner, licensor or otherwise, in any Competitor; and


 


	(c)	the
    Executive will not seek, directly or indirectly, by the offer of alternative employment or other inducement whatsoever, to solicit
    the services of any officer, director, or employee of or consultant to the Company or any member of the Group employed or engaged
    as at or after the date of such termination, or in the twelve (12) months preceding such termination.


 


The
provisions contained in Section 10 are considered reasonable by the Executive in order to protect the legitimate business interest
of the Company and the Group. In the event that any such provisions should be found to be void under applicable laws but would be valid
if some part thereof was deleted or the period or area of application reduced, such provisions shall apply with such modification as
may be necessary to make them valid and effective.


 


This
Section 10 shall survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 10,
the Executive acknowledges that there will be no adequate remedy at law, and the Company or the applicable member of the Group shall
be entitled to injunctive relief and/or a decree for specific performance, and such other relief as may be proper (including monetary
damages if appropriate). In any event, the Company or any applicable member of the Group shall have right to seek all remedies permissible
under applicable law.


 






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11.
INDEMNIFICATION.


 


The
Company shall, to the maximum extent provided under applicable law, indemnify and hold the Executive harmless from and against any expenses,
including reasonable attorneys’ fees, judgments, fines, settlements and other legally permissible amounts (“Losses”),
incurred in connection with any proceeding arising out of, or related to, her performance of the Employment, other than any such Losses
incurred as a result of the Executive’s fraud, willful default, gross negligence or willful misconduct. The Company shall advance
to the Executive any expenses, including reasonable attorneys’ fees and costs of settlement, incurred in defending any such proceeding
to the maximum extent permitted by applicable law. Such costs and expenses incurred by the Executive in defense of any such proceeding
shall be paid by the Company in advance of the final disposition of such proceeding promptly upon receipt by the Company of (a) written
request for payment; (b) appropriate documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment
is being sought; and (c) an undertaking adequate under applicable law made by the Executive or on her behalf to repay the amounts so
advanced if it shall ultimately be determined pursuant to any non-appealable judgment or settlement that the Executive is not entitled
to be indemnified by the Company.


 


		12.	WITHHOLDING
TAXES


 


Notwithstanding
anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise
due or payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or other taxes as
may be required to be withheld pursuant to any applicable law or regulation.


 


		13.	ASSIGNMENT


 


This
Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this
Agreement or any rights or obligations hereunder; provided, however, that (i) the Company may assign or transfer this Agreement
or any rights or obligations hereunder to any member of the Group without such consent, and (ii) in the event of a Change of Control
Transaction, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such
successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder. 


 






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		14.	SEVERABILITY


 


If
any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications
of this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement
are declared to be severable.


 


		15.	ENTIRE
AGREEMENT


 


This
Agreement constitutes the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment
and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The Executive acknowledges that
she has not entered into this Agreement in reliance upon any representation, warranty or undertaking which is not set forth in this Agreement.
Any amendment to this Agreement must be in writing and signed by the Executive and the Company.


 


		16.	GOVERNING
LAW; JURISDICTION


 


This
Agreement and all issues pertaining to the Employment or the termination of the Employment shall be governed and interpreted in accordance
with the laws of New York without regard to choice of law principles, except the arbitration provision which shall be governed by the
Federal Arbitration Act. Executive agrees that if, for any reason, any provision hereof is unenforceable, the remainder of this Agreement
will nonetheless remain binding and in effect. Any dispute regarding the Employment or this Agreement, other than any injunctive relief
available under Section 10 hereof, which cannot be resolved by negotiations between the Executive and the Company shall be submitted
to, and solely determined by, final and binding arbitration conducted by the American Arbitration Association (“AAA”)
in accordance with its arbitration rules applicable to employment disputes, and the parties agree to be bound by the final award of the
arbitrator in any such proceeding. The arbitrator shall apply the laws of the State of New York with respect to the interpretation or
enforcement of this Agreement, or to any claims involving the Employment or the termination of the Employment. All questions regarding
whether or not a dispute is subject to arbitration will be resolved by the arbitrator. Arbitration shall be held in the AAA New York
City Office, or such other place as the parties may mutually agree. Judgment upon the award by the arbitrator may be entered in any court
having jurisdiction, including in the People’s Republic of China or Hong Kong. The arbitrator shall award costs and attorney fees
to the prevailing party. As part of this Agreement, Executive agrees that Executive may not participate in a representative capacity
or as a member of any class of claims pertaining to any claim against the Company. There is no right or authority for any claims subject
to this Agreement to be arbitrated on a class or collective action basis or on any basis involving claims brought in a purported representative
capacity on behalf of any other person or group of people similarly situated. Such claims are prohibited. Furthermore, claims brought
by or against either the Company or the Executive may not be joined or consolidated in the arbitration with claims brought by or against
any other person or entity unless otherwise agreed to in writing by all parties involved.


 






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		17.	AMENDMENT


 


This
Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring
to this Agreement, which agreement is executed by both of the parties hereto.


 


		18.	WAIVER


 


Neither
the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate
as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further
exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with
respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No
waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.


 


		19.	NOTICES


 


All
notices, requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed
to have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, (iii) sent
by a recognized courier with next-day or second-day delivery, or (iv) by email, to the last known address of the other party, with communications
to the Company being to the attention of the Company’s Chief Executive Officer.


 


		20.	COUNTERPARTS


 


This
Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature
appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one
or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the
signatories.


 


Photographic
or electronic copies of such signed counterparts may be used in lieu of the originals for any purpose, and signed counterparts may be
delivered by electronic means.


 


		21.	NO
INTERPRETATION AGAINST DRAFTER


 


Each
party recognizes that this Agreement is a legally binding contract and acknowledges that it, or she has had the opportunity to consult
with legal counsel of choice. In any construction of the terms of this Agreement, the same shall not be construed against either party
on the basis of that party being the drafter of such terms.


 


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IN
WITNESS WHEREOF, this Agreement has been executed as of the date first written above.


 


	 	Ostin Technology Group Co., Ltd.
	 	 	 
	 	By:	/s/
    Tao Ling
	 	Name:	Tao Ling
	 	Title:	Chief Executive Officer
	 	 	 
	 	Executive
	 	 	 
	 	Signature: 	/s/ Qiaoyun
    Xie
	 	Name: 	Qiaoyun Xie 


 


 




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