Exhibit 10.1


 





TAKUNG
ART CO., LTD


 


Executive Employment
Agreement


 


This EXECUTIVE EMPLOYMENT AGREEMENT
(the "Agreement"), entered into as of May 26, 2020, by and between Takung Art Co., Ltd., a Delaware corporation (the
 "Company") and Jing Wang (the "Executive"). The Company and Executive are collectively referred to herein
as the "Parties." This Agreement automatically shall supersede any agreement between the Company and Executive concerning
Executive's employment by the Company.



 


RECITALS


 


A. The Company desires to employ the Executive
as its Chief Financial Officer (CFO), and to assure itself of the services of the Executive for the Initial Period and Extended
Period (each as defined below).


 


B. The Executive desires to be employed
by the Company as its CFO for the Initial Period and Extended Period and upon the terms and conditions of this Agreement.


 


C. Executive agrees to use her best efforts,
and apply her skill and experience, to the proper performance of her duties hereunder and to the business and affairs of the Company.
Executive agrees to serve the Company faithfully, diligently and to the best of her ability.



  


AGREEMENT


 


ACCORDINGLY, the Parties agree as follows:


 


1. Term of Employment.  The
Company shall employ the Executive to render services to the Company in the position and with the duties and responsibilities described
in Section 2 for a period of three (3) months starting from June 1, 2020 (the “Initial Period”), which
period shall be automatically extended for an additional nine (9) months (the "Extended Period "), unless the
Company provides notice to the Executive of its election not to extend the period prior to the expiration of the Initial Period,
or unless the Initial Period or Extended Period, as applicable, is terminated sooner in accordance with Sections 4 or 5 below
or extended upon mutual agreement of the Parties.


 


2. Position, Duties, Responsibilities.


 


2.1 Position.  The Executive
shall render services to the Company in the positions of CFO and shall perform all services appropriate to such position. The Executive's
principal place of employment shall be at any location mutually acceptable to the board of directors of the Company and the Executive.  The
Executive shall devote her best efforts to the performance of her duties.  The Executive shall report to the board
of directors of the Company.


  


2.2 Execution of Other Employment
Agreements.  The Executive shall upon request of the Company execute an employment agreement with any direct or indirect
subsidiary of the Company (in each case, a "Subsidiary Employment Agreements") in accordance with Hong Kong
or China laws and regulations, in the form substantially identical to this Agreement except for adjustments or alterations required
to comply with the relevant laws and regulations of the Hong Kong or China as the case may be.


 






     


     


    

 


3. Compensation and Holiday.  In
consideration of the services to be rendered under this Agreement, the Executive shall be entitled to the following:


 


3.1 Base Salary.  The Company
shall pay the Executive a "Base Salary" of RMB 30,000 per month, subject to adjustment in accordance with Section
3.2 below.  The Base Salary shall be paid in accordance with the Company's regularly established payroll practices.


 


3.2 Salary Adjustment.  The
Executive's Base Salary will be reviewed from time to time in accordance with the established procedures of the Company for adjusting
salaries for similarly situated employees and may be adjusted in the sole discretion of the Company.


 


3.3 Benefits.  The Executive
shall be eligible to participate in the benefits made generally available by the Company to similarly-situated executives, in accordance
with the benefit plans established by the Company (including the Company’s Equity Incentive Plan), and as may be amended
from time to time in the Company's sole discretion. Nothing contained in this Article shall affect or in any way limit Executive's
rights as an executive employee of the Company to participate in any profit sharing plan, supplemental compensation arrangements
or any other fringe benefits offered by the Company to its employees as set forth in the Company's employee handbook, and compensation
received by Executive hereunder shall be in addition to the foregoing except that the severance benefits set forth in this Agreement
shall be exclusive.

  


3.4  Bonus.  The Executive
shall not be entitled to any bonus unless otherwise approved by the board of directors of the Company in its sole discretion.


 


3.5 Holidays.  The Executive
shall be entitled, in addition to applicable statutory public holidays, to take Twenty (20) working days as paid holidays
in each full calendar year.  If the Executive's employment commences or terminates part way through a calendar year,
her entitlement to holidays will be assessed on a pro-rata basis in accordance with the Company's holiday policy, as it may change
from time to time.


  


4. Termination By Company.


 


4.1 Termination for Cause.  For
purposes of this Agreement, "For Cause" shall mean the occurrence of any of the following, subject only to any
statutory requirement of any applicable law: (i) the failure of the Executive to properly carry out her duties after notice by
the Company of the failure to do so and a reasonable opportunity for the Executive to correct the same within a reasonable period
specified by the Company; (ii) any breach by the Executive of one or more provisions of any written agreement with, or written
policies of, the Company or her fiduciary duties to the Company likely to cause material harm to the Company and its affiliates,
at the Company's reasonable discretion, or (iii) any theft, fraud, dishonesty or serious misconduct by the Executive involving
her duties or the property, business, reputation or affairs of the Company and its affiliates.  The Company may terminate
the Executive's employment For Cause at any time, without any advance notice or payment in lieu of notice.  The Company
shall pay to the Executive all compensation prescribed under Section 3 hereof to which the Executive is entitled up through the
date of termination, subject to any other rights or remedies of the Company under law, and thereafter all obligations of the Company
under this Agreement shall cease.


  


4.2 By Disability.  In
the event Executive shall, by reason of illness or other incapacity, become unable to perform the services agreed upon herein ("Disability"
or "Disabled"), the Company shall continue to compensate Executive for six (6) months commencing from the date of such
Disability at her base monthly salary less any amounts actually received by Executive from the disability insurance policies carried
by the Company for the benefit of Executive pursuant to Section 3. "Disability" shall mean if, as a result of Executive's
incapacity due to physical or mental illness, Executive shall have been absent from the full-time performance of Executive's duties
with the Company for three (3) consecutive months, and within thirty (30) days after written notice of termination is given Executive
shall not have returned to the full-time performance of Executive's duties. The determination of Disability will be established
by the Company’s benefit provider. The determination of such benefit provider shall be made in writing to the Company and
Executive and shall be final and conclusive for purposes of this Agreement.


 






     


     


    

 


4.3 Other Termination by Company.  In
addition to Sections 4.1 through 4.2, the Company may at any time terminate the employment of the Executive without cause: (i)
at any time during the Initial Period, in which case the Executive will not be eligible to receive any severance; or (ii) by giving
one (1) month written notice to the Executive during the Extended Period, in which case the Executive will be eligible to receive
an amount equal to one (1) month of the then-current Base Salary of the Executive payable in the form of salary continuation (the
 “Severance”). The Executive's eligibility for Severance is conditioned on the Executive having first signed a Termination
Certificate in the form attached as Exhibit A.  The Executive shall not be entitled to any Severance payments
if the Executive's employment is terminated For Cause, by death or by Disability (as provided above) or if the Executive's employment
is terminated by the Executive for any reason other than Good Reason, as defined below.


 


5. Termination
By Executive.


 


5.1 Termination by Executive other than
for Good Reason.  The Executive may terminate employment with the Company at any time for any reason or no reason
at all, upon three (3) months' advance written notice.  During such notice period the Executive shall continue to diligently
perform all of the Executive's duties hereunder.  The Company shall have the option, in its sole discretion, to make
the Executive's termination effective at any time prior to the end of such notice period as long as the Company pays the Executive
all compensation under Section 3 hereof to which the Executive is entitled up through the actual termination date.  Thereafter
all obligations of the Company shall cease.  Unless the Executive terminates her employment for Good Reason, as provided
in Section 5.2, no Severance or other separation benefits shall be paid to the Executive.


 


5.2 Termination
for Good Reason.  The Executive's termination shall be for Good Reason (as defined below)
if the Executive provides written notice to the Company of the Good Reason within ten (10) days of the event constituting Good
Reason and provides the Company with a period of ten (10) days to cure the Good Reason and the Company fails to cure the Good Reason
within that period.  For purposes of this Agreement, "Good Reason" shall mean, without the Executive’s
express written consent, the occurrence of any of the following circumstances: (a) The assignment to Executive of any duties inconsistent
with Executive’s status as an executive officer of the Company or a substantial adverse alteration in the nature or status
of Executive’s responsibilities from those in effect upon the date hereof; (b) A reduction by the Company by more than twenty
percent (20%) in Executive’s Base Salary as in effect on the date hereof; (c) The failure by the Company, without Executive’s
consent, to pay to Executive any portion of Executive’s compensation due hereunder more than twice in any 12 month period
except pursuant to an across-the-board compensation deferral similarly affecting all executives of the Company; (d) The failure
by the Company to continue to provide Executive with benefits or arrangements (including, without limitation, income tax services,
car allowances, and other fringe benefits) at least as favorable to those enjoyed by Executive upon the start of employment hereunder,
the taking of any action by the Company which would directly or indirectly materially reduce any of such benefits or deprive Executive
of any material fringe benefit enjoyed by Executive upon the start of employment hereunder. Executive’s continued employment
shall not constitute consent to, or a waiver of rights with respect to, any circumstance constituting Good Reason hereunder. Upon
occurrence of any of the foregoing events which Executive believes constitutes "Good Reason," Executive must notify the
Company in writing within ten (10) days and give the Company ten (10) days to cure or correct the alleged action or failure. After
the expiration of twenty (20) days, Executive may quit for "Good Reason" by giving written notice within an additional
fourteen (14) days.


 


6. Termination Obligations.


 


The Executive agrees that on or before termination
of employment, she will promptly return to the Company all documents and materials of any nature pertaining to her work with the
Company, including all originals and copies of all or any part of any Proprietary Information or Inventions (as defined below)
along with any and all equipment and other tangible and intangible property of the Company.  The Executive agrees not
to retain any documents or materials or copies thereof containing any Proprietary Information or Inventions.


 






     


     


    

 


The Executive further agrees that:  (i) all
representations, warranties, and obligations under Articles 6, 7, 8, 9, 10, 11, 12, 14.1, 14.2, 14.3 and 14.4 contained in this
Agreement shall survive the termination of the Initial Period and Extended Period, as applicable; (ii) the Executive's representations,
warranties and obligations under Articles 6, 7, 8, 9, 10, 11, 12, 14.1, 14.2, 14.3 and 14.4 shall also survive the expiration of
this Agreement; and (iii) following any termination of the Initial Period or Extended Period, as applicable, the Executive
shall fully cooperate with the Company in all matters relating to her continuing obligations under this Agreement, including but
not limited to the winding up of pending work on behalf of the Company, the orderly transfer of work to the other employees of
the Company, and the defense of any action brought by any third party against the Company that relates in any way to the Executive's
acts or omissions while employed by the Company.  The Executive also agrees to sign and deliver the Termination Certificate
attached hereto as Exhibit A prior to her termination of employment with the Company.


 


7. Post-Termination Activity.


 


7.1 No Use of Proprietary Information.  The
Executive acknowledges that the pursuit of the activities forbidden by this subsection would necessarily involve the use or disclosure
of Proprietary Information in breach of this Agreement, but that proof of such a breach would be extremely difficult.  To
forestall such disclosure, use, and breach, and in consideration of the employment under this Agreement, the Executive also agrees
that while employed by the Company, and for a period of six (6) months after termination of the Executive's employment, the Executive
shall not, directly or indirectly:


 


(i) divert or attempt to divert from the
Company or any Affiliate ("Affiliate" shall mean any person or entity that directly, or indirectly through one
or more intermediaries, controls, or is controlled by, or is under common control with such entity).  For the purposes
of this definition "control" means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a person, whether through the ownership of voting securities, by contract or otherwise,
and includes (a) ownership directly or indirectly of 50% or more of the shares in issue or other equity interests of such person,
(b) possession directly or indirectly of 50% or more of the voting power of such person or (c) the power directly or indirectly
to appoint a majority of the members of the board of directors or similar governing body of such person, and the terms "controlling"
and "controlled" have meanings correlative to the foregoing) any business of any kind in which it is engaged,
including, without limitation, soliciting business from or performing services for, any persons, company or other entity which
at any time during the Executive's employment by the Company is a client, supplier, or customer of the Company or prospective client,
supplier, or customer of the Company if such business or services are of the same general character as those engaged in or performed
by the Company; 


 


(ii) solicit or otherwise induce any person
to terminate her employment or consulting relationship with the Company or any Affiliate; or


 


(iii) engage, invest or assist in any business
activity that directly or indirectly competes with any business plan of the Company or any Affiliate.


 


In addition, because the Executive acknowledges
the difficulty of establishing when any intellectual property, invention, or proprietary information is first conceived or developed
by the Executive, or whether it results from access to Proprietary Information or the Company equipment, supplies, facilities,
or data, the Executive agrees that any intellectual property, invention, or proprietary information shall be reported to the Company
and, unless proven otherwise to the reasonable satisfaction of the Company, shall be presumed to be an Invention (as defined below)
for the purpose of this Agreement and shall be subject to all terms and conditions hereof, if reduced to practice by the Executive
or with the aid of the Executive within six (6) months after termination of the Initial Period or Extended Period, as applicable.


 


7.2 No Competition.  Notwithstanding
Section 7.1 above, while employed by the Company and for a period of six (6) months after the termination of the Executive's employment
with the Company for any reason whatsoever, the Executive shall not, directly or indirectly, as an executive, employer, employee,
consultant, agent, principal, partner, manager, stockholder, officer, director, or in any other individual or representative capacity,
engage, aid, counsel or participate in any business within Hong Kong and the People’s Republic of China that is competitive
with the business of the Company or any Affiliate.  Notwithstanding the foregoing, the Executive may own less than one
percent (1%) of any class of stock or security of any corporation listed on an internationally recognized securities exchange which
competes with the Company.


 






     


     


    

 


7.3 Enforceability.  The
covenants of this Article 7 are several and separate, and the unenforceability of any specific covenant shall not affect the provisions
of any other covenant.  If any provision of this Article 7 relating to the time period or geographic area of the
restrictive covenants shall be declared by a court of competent jurisdiction to exceed the maximum time period or geographic area,
as applicable, that such court deems reasonable and enforceable, then this Agreement shall automatically be considered to have
been amended and revised to reflect the maximum time period or geographic area that such court deems enforceable.


 


7.4 Independent Covenants.  All
of the covenants in this Article 7 shall be construed as an agreement independent of any other provision in this Agreement,
and the existence of any claim or cause of action of the Executive against the Company or any of its Affiliates, whether predicated
on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants.





 


8. Proprietary Information.


 


The Executive agrees during her employment
with the Company and within three (3) years thereafter, to hold in strictest confidence and trust, and not to use or disclose to
any person, firm or corporation any Proprietary Information without the prior written consent of the Company, except as necessary
in carrying out her duties as an employee of the Company for the benefit of the Company.  "Proprietary Information"
means any information of a proprietary, confidential or secret nature that may be disclosed to the Executive that relates to the
business of the Company or of any parent, subsidiary, Affiliate, customer or supplier of the Company or any other party with whom
the Company agrees to hold information of such party in confidence ("Relevant Parties").  Such Proprietary
Information includes, but is not limited to, Inventions (as defined below), research, product plans, products, services, business
strategies, personnel information, customer lists, customers, markets, technical information, forecasts, marketing, finances or
other business information of the Company and its Affiliates.  This information shall remain confidential whether it
was disclosed to the Executive either directly or indirectly in writing, orally or by drawings or observation.  The Executive
understands that Proprietary Information does not include any of the foregoing items which has become publicly known and made generally
available through no wrongful act of the Executive or others who were under confidentiality obligations as to the items involved.


 


9. Former Employer Information.


 


The Executive agrees that she will not,
during her employment with the Company, improperly use or disclose any proprietary information or trade secrets, or bring onto
the premises of the Company any unpublished document or proprietary information belonging to any former or concurrent employer
or other person or entity (excluding any direct or indirect subsidiary of the Company).


  


10. Third Party Information.


 


The Executive recognizes that the Company
has received and in the future will receive confidential or proprietary information from third parties.  The Executive
agrees to hold all such confidential or proprietary information in the strictest confidence and trust, and not to disclose it to
any person, firm or corporation or to use it except as necessary in carrying out her work for the Company consistent with the Company's
agreement with such third party.


 


11. No Conflict.


 


The Executive represents and warrants that
the Executive's execution of this Agreement, her employment with the Company, and the performance of her proposed duties under
this Agreement shall not violate any obligations she may have to any former employer or other party, including any obligations
with respect to proprietary or confidential information or intellectual property rights of such party or require the consent or
approval of any third party.


 






     


     


    

 


12. Inventions.


 


12.1 Inventions Retained and Licensed.  The
Executive has attached, as Exhibit B, a list describing all inventions, original works of authorship, developments,
improvements, and trade secrets which were made by the Executive prior to the Executive's employment with the Company ("Prior
Inventions"), which belong to the Executive, and which relate to the Company's actual and/or proposed business, products
or research and development.  If, in the course of her employment with the Company, the Executive incorporates into a
Company product, process or machine a Prior Invention owned by the Executive or in which the Executive has an interest, the Company
is hereby granted and shall have a non-exclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify,
use and sell such Prior Invention as part of or in connection with such product, process or machine.


 


12.2 Assignment of Inventions.  The
Executive agrees that she will promptly make full written disclosure to the Company, will hold in trust for the sole right and
benefit of the Company, and hereby irrevocably assigns to the Company, or its designee, all the Executive's right, title, and interest
in and to any and all inventions, original works of authorship, developments, concepts, improvements, designs, drawings, discoveries,
ideas, formulas, processes, compositions of matter, software, databases, mask works, computer programs (including all source codes)
and related documentation, algorithms, engineering and reverse engineering, technology, hardware configuration information, logos,
trade names, trademarks, patents, patent applications, copyrights, trade secrets or know-how, which the Executive may solely or
jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice ("Inventions"),
while the Executive is employed by the Company.  The Executive further acknowledges that all original works of authorship
which are made by the Executive (solely or jointly with others) within the scope of and during her employment with the Company
and which are protectable by copyright are "works made for hire," as that term is defined in the United States
Copyright Act and that the Company will be considered the author and owner of such works.  The Executive understands
and agrees that the decision whether or not to commercialize or market any Invention developed by the Executive solely or jointly
with others is within the Company's sole discretion and for the Company's sole benefit and that no royalty will be due to the Executive
as a result of the Company's efforts to commercialize or market any such Invention.


 


12.3 Waiver of Moral Rights.  To
the utmost extent legally permitted, the Executive also hereby forever waives and agrees never to assert any and all Moral Rights
(as defined below) he may have in or with respect to any Invention, even after termination of her work on behalf of the Company.  "Moral
Rights" mean any rights to claim authorship of an Invention to object to or prevent the modification of any Invention,
or to withdraw from circulation or control the publication or distribution of any Invention, and any similar right, existing under
judicial or statutory law of any country in the world, or under any treaty, regardless of whether or not such right is denominated
or generally referred to as a "moral right."


 


12.4 Maintenance of Records.  The
Executive agrees to keep and maintain adequate and current written records of all Inventions made by the Executive (solely or jointly
with others) during the Executive's employment with the Company.  The records will be in the form of notes, sketches,
drawings, and any other format that may be specified by the Company.  The records will be provided to, and remain the
sole property of, the Company at all times.


 


12.5 Patent and Copyright Registrations.  The
Executive agrees to assist the Company, or its designee, at the Company's expense, in every proper way, to secure the Company's
rights in the Inventions and any copyrights, patents, mask work rights, trade secret rights or other intellectual property rights
relating thereto in any and all countries.  The Executive will disclose to the Company all pertinent information and
data which the Company deems necessary for the execution of all applications, specifications, oaths, assignments and execute all
instruments necessary to apply for and obtain such rights and in order to assign and convey to the Company, its successors, assigns,
and nominees, the sole and exclusive right, title and interest in and to such Inventions, and any copyrights, patents, mask work
rights, or other intellectual property rights relating thereto.  The Executive further agrees that the Executive's obligation
to execute or cause to be executed, when it is in the Executive’s power to do so, any such instrument or papers shall continue
after the termination of this Agreement.  If the Company is unable, because of the Executive's mental or physical incapacity
or for any other reason, to secure her signature to apply for or to pursue any application for any patents or copyright registrations
covering the Inventions assigned to the Company as above, then the Executive hereby irrevocably designates and appoints the Company
and its duly authorized officers and agents as her agent and attorney in fact, to act for and in the Executive's behalf and stead
to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of
letters, patent or copyright registrations thereon with the same legal force and effect as if executed by the Executive.


 






     


     


    

 


13. Alternative Dispute Resolution.


 


Except with respect to any proceeding brought under Section
7 hereof, the Company and Executive mutually agree that any controversy or claim arising out of or relating to this Agreement or
the breach thereof, or any other dispute between the parties, shall be submitted to mediation before a mutually agreeable mediator,
which cost is to be borne equally by the parties hereto. In the event the Parties fail to agree on a mediator, or mediation is
unsuccessful in resolving the claim or controversy within one (1) month after the commencement of mediation, such claim or controversy
shall be resolved by arbitration in Hong Kong. Any dispute, controversy, difference or claim arising out of or relating to this
Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding
non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered
by the Hong Kong International Arbitration Centre (HKIAC) under the UNCITRAL Arbitration Rules in force when the Notice of Arbitration
is submitted , as modified by the HKIAC Procedures for the Administration of International Arbitration. The law of this arbitration
clause shall be Hong Kong law. The seat of arbitration shall be in Hong Kong. The number of arbitrators shall be one. The arbitration
proceedings shall be conducted in English.


 


14. Miscellaneous.


 


14.1 Continuing Obligations.  The
obligations in this Agreement will continue in the event that the Executive is hired, renders services to or for the benefit of
or is otherwise retained at any time by any present or future Affiliates of the Company.  Any reference to the Company
in this Agreement will include such Affiliates.  Upon the expiration or termination for any reason whatsoever of
this Agreement, the Executive shall forthwith resign from any employment of office with an Affiliate of the Company unless the
board of directors of the Company requests otherwise.


 


14.2 Notification.  The
Executive hereby authorizes the Company to notify her actual or future employers of the terms of this Agreement and her responsibilities
hereunder.


 


14.3 Name and Likeness Rights.  The
Executive hereby authorizes the Company to use, reuse, and to grant others the right to use and reuse, her name, photograph, likeness
(including caricature), voice, and biographical information, and any reproduction or simulation thereof, in any media now known
or hereafter developed (including but not limited to film, video and digital or other electronic media), both during and after
her employment, for whatever purposes the Company deems necessary.


 


14.4 Injunctive Relief. The
Executive understands that in the event of a breach or threatened breach of this Agreement by her, the Company may suffer irreparable
harm and will therefore be entitled to injunctive relief to enforce this Agreement.


 


14.5 Entire Agreement.  This
Agreement, including the exhibits attached hereto, is intended to be the final, complete, and exclusive statement regarding their
subject matter, except for other agreements specifically referenced herein.  Unless otherwise specifically provided for
herein, this Agreement supersedes all other prior and contemporaneous agreements and statements pertaining to this subject matter,
and may not be contradicted by evidence of any prior or contemporaneous statements or agreements.  To the extent that
the practices, policies, or procedures of the Company, now or in the future, apply to the Executive and are inconsistent with the
terms of this Agreement, the provisions of this Agreement shall control.


 






     


     


    

 


14.7 Amendments, Renewals and Waivers.  This
Agreement may not be modified, amended, renewed or terminated except by an instrument in writing, signed by the Executive and by
a duly authorized representative of the Company other than the Executive.  No failure to exercise and no delay in exercising
any right, remedy, or power under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of
any right, remedy, or power under this Agreement preclude any other or further exercise thereof, or the exercise of any other right,
remedy, or power provided herein or by law or in equity.


 


14.8 Assignment; Successors and Assigns.  The
Executive agrees that she will not assign, sell, transfer, delegate or otherwise dispose of, whether voluntarily or involuntarily,
or by operation of law, any rights or obligations under this Agreement, nor shall the Executive's rights be subject to encumbrance
or the claims of creditors.  Any purported assignment, transfer, or delegation shall be null and void.  Nothing
in this Agreement shall prevent the consolidation of the Company with, or its merger into, any other corporation, or the sale by
the Company of all or substantially all of its properties or assets, or the assignment by the Company of this Agreement and the
performance of its obligations hereunder to any successor in interest.  In the event of a change in ownership or control
of the Company, the terms of this Agreement will remain in effect and shall be binding upon any successor in interest.  Notwithstanding
and subject to the foregoing, this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective
heirs, legal representatives, successors, and permitted assigns, and shall not benefit any person or entity other than those enumerated
above.


 


14.9
Indemnification. The Company shall indemnify the Executive, to the maximum extent permitted by applicable law, against
all costs, charges and expenses incurred or sustained by the Executive in connection with any action, suit or proceeding to which
she may be made a party by reason of being an officer, director or employee of the Company or of any subsidiary or affiliate of
the Company or any other corporation for which the Executive serves in good faith as an officer, director, or employee.  The
Company will cover Executive under its directors and officers liability insurance in the same amount and to the same extent as
the Company covers its other officers and directors.


 


14.10 Notices.  All notices
and other communications given or made pursuant hereto shall be in writing and shall be deemed to have been duly given or made
as of the date delivered or mailed if delivered personally or by nationally recognized courier or mailed by registered mail (postage
prepaid, return receipt requested) or by telecopy to the parties at the following addresses (or at such other address for a party
as shall be specified by like notice, except that notices of changes of address shall be effective upon receipt):


  


	To:	Company
	Contact Address:	Takung Art Co., Ltd
	 	Room 1105 Wing On Plaza, 62 Mody Road, Tsim Sha Tsui, Kowloon, Hong Kong
	Attention:	Fang Mu, Chief Executive Officer
	 	 
	To:	Executive
	Contact Address:	No. 351, Zone 1 ,Qian Jin Nong Ken Zone B,Tong Jiang City ,Hei Long Jiang ,PRC
	 	 
	Attention:	Jing Wang


 


14.11 Waiver of Immunity.  To
the extent that any Party (including its assignees of any such rights or obligations hereunder) may be entitled, in any jurisdiction,
to claim for itself (or himself or herself) or its revenues or assets or properties, immunity from service of process, suit, the
jurisdiction of any court, an interlocutory order or injunction or the enforcement of the same against its property in such court,
attachment prior to judgment, attachment in aid of execution of an arbitral award or judgment (interlocutory or final) or any other
legal process, and to the extent that, in any such jurisdiction there may be attributed such immunity (whether claimed or not),
such Party hereby irrevocably waives such immunity.


 






     


     


    

 


14.12 Severability; Enforcement.  If
any provision of this Agreement, or its application to any person, place, or circumstance, is held by an arbitrator or a court
of competent jurisdiction to be invalid, unenforceable, or void, such provision shall be enforced (by blue-penciling or otherwise)
to the maximum extent permissible under applicable law, and the remainder of this Agreement and such provision as applied to other
persons, places, and circumstances shall remain in full force and effect.


 


14.13 Governing Law.  This
Agreement shall in all respects be construed and enforced in accordance with and governed by the laws of Hong Kong, without regard
to principles of conflict of laws.


 


14.14 Interpretation.  This
Agreement shall be construed as a whole, according to its fair meaning, and not in favor of or against any party.  Sections
and section headings contained in this Agreement are for reference purposes only, and shall not affect in any manner the meaning
or interpretation of this Agreement.  Whenever the context requires, references to the singular shall include the plural
and the plural the singular.  References to one gender include both genders.


  


14.15 Counterparts.  This
Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this Agreement, but all of
which together shall constitute one and the same instrument.


 




     


     


    

  


EXECUTIVE ACKNOWLEDGEMENT.  The
Executive acknowledges (i) that she has consulted with or has had the opportunity to consult with independent counsel of her own
choice concerning this Agreement and has been advised to do so by the Company, and (ii) that she has read and understands the Agreement,
is fully aware of its legal effect, and has entered into it freely based on her own judgment.  The Executive hereby agrees
that her obligations set forth in Sections 7, 8, and 9 hereof and the definitions of Proprietary Information and Inventions contained
therein shall be equally applicable to Proprietary Information and Inventions relating to any work performed by the Executive for
the Company prior to the execution of this Agreement.


 


The parties have duly executed this Agreement
as of the date first written above.


 


	 	EXECUTIVE:
	 	 	 	 
	 	 	 	 
	 	 /s/ Jing Wang	 
	 	Name: Jing Wang
	 	 	 	 
	 	 	 	 
	 	COMPANY:
	 	 	 	 
	 	Takung Art Co., Ltd
	 	 	 	 
	 	 	 	 
	 	By:	 /s/ Fang Mu	 
	 	Name: Fang Mu
	 	Title:   Chief Executive Officer 


  




     


     


    

  


EXHIBIT A


 


TERMINATION CERTIFICATE


 


This is to certify that I have returned all property of Takung
Art Co., Ltd. (the "Company") and the Relevant Parties, including, without limitation, all books, manuals, records,
models, drawings, reports, notes, contracts, lists, blueprints, and other documents and materials, electronic data recorded or
retrieved by any means, Proprietary Information, and equipment furnished to or prepared by me in the course of or incident to my
employment with the Company, and that I did not make or distribute any copies of the foregoing.


 


I further certify that I have reviewed the Executive Employment
Agreement (the "Agreement") signed by me and that I have complied with and will continue to comply with all of
its terms, including, without limitation, (i) the reporting of any Inventions or any improvement, rights, or claims related
to the foregoing, conceived or developed by me and covered by the Agreement; (ii) the preservation as confidential of all
Proprietary Information pertaining to the Company and the Relevant Parties; (iii) not participating in any business competitive
with the business of the Company; (iv) not acting as the legal representative or an executive officer of any other company
within and outside Hong Kong, and (v) the reporting of any remuneration paid to me due to any employment or self-employment during
the severance period, if any.  This certificate in no way limits my responsibilities or liabilities to the Company or
the Company's rights under the Agreement.


 


On termination of my employment with the Company, I will be
employed by [name of new employer] in the [division name] division and I will be working in connection
with the following projects:


 


[generally describe the projects]


 


	 
	 
	 
	 


 


	Date:	 	 	 
	 	 	 	Print Executive's Name
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Executive's Signature


  




     


     


    

  


EXHIBIT B


 


LIST OF PRIOR INVENTIONS


AND ORIGINAL WORKS OF AUTHORSHIP


 





	Title	Date	 Identifying Number or Brief Description







 





 


 


 


______X_____                             No
inventions or improvements


____________                              Additional
Sheets Attached


 


Signature of Executive:   /s/                                         


Printed Name of Executive: Jing Wang


Date:    May , 2020