Exhibit 10.1


 


PINGTAN
MARINE ENTERPRISE LIMITED


 


Re:
Employment Contract


 


Dear
Mr. LiMing Yung,


 


We
are pleased to offer you an appointment with Pingtan Marine Enterprise Ltd. on the following terms:


 


Position


 


Chief
Financial Officer (“CFO”)


 


Duties


 


You
agree that during the course of your employment as CFO, you will abide by the Company’s constitution, this Agreement, the
resolution(s) passed by the shareholder’s meeting of the Company and the resolution(s) passed by the Board of Directors
of the Company to perform the duties of CFO and shall in accordance with the constitution fulfill your obligations to the shareholders.


 


You
shall perform all of your duties as CFO of the Company in accordance with the Company law and any other applicable regulations.


 


You
shall have the obligation to act in good faith and diligence and not to engage in any activities that may harm the Company’s
interests.


 


Commencement
Date


 


2019/12/5


 


Probation
Period


 


1
month from the Commencement Date


 


Emoluments
and Reimbursement


 


Your
monthly salary will be USD $15,000 payable in arrears on the last working day of each and every calendar month, plus a bonus of
USD $20,000 payable on last working day of each and every calendar year.


 


During
the course of your employment, the Company shall reimburse you for any reasonable and necessary fees (travel expenses, accommodation
expenses, hospitality expenses and other actual expenses) incurred by you during the fulfillment of your duties under this Agreement
upon the production of relevant receipts and /or valid documentation of expenditure.


 






     


     


    

 


Termination


 


During
the probation period, the contract of employment may be terminated by either party without prior notice. Thereafter two month’s
advance written notice or payment in lieu of notice is required.


 


Confidentiality


 


You
shall keep strictly confidential any matter or information concerning the business of the company both during the course of your
employment and at any time thereafter.


 


Prohibition
of Other Employment


 


You
shall devote your whole time and attention to your employment. You shall not during the terms of your employment engage in any
other employment or business without the prior written consent of the Company.


 


Prohibition
of Competition


 


You
shall undertake to the Company that during the course of employment with the Company, you shall not in any way engage in any business
which is in competition with the business of the Company.


 


Governing
Laws and Jurisdiction


 


This
Agreement is governed by the laws of New York and the parties submit to the non-exclusive jurisdiction of the courts of New York.


 


Prohibition
and Enforceability


 


Any
provision of, or the application of any provision of, this Agreement which is prohibited in any jurisdiction is, in that jurisdiction,
ineffective only to the extent of that prohibition. Any provision of, or the application of any provision of, this
Agreement which is void, illegal or unenforceable in any jurisdiction does not affect the validity, legality or enforceability
of that provision in any other jurisdiction or of the remaining provisions in that or any other jurisdiction.


 


Counterparts


 


This
agreement may be executed in any number of counterparts. All counterparts, taken together, constitute one instrument. A party
may execute this Agreement by signing any counterpart.


 






    2


     


    

 


Interpretation


 


In
this Agreement, unless the context otherwise requires:


 


		1.	headings
and underlining are for convenience only and do not affect the interpretation of this Agreement;



		2.	words
importing the singular include the plural and vice versa; words importing a gender include any gender;



		3.	where
a word or phrase is defined in this Agreement, other parts of speech and grammatical forms of that word or phrase have a corresponding
meaning;



		4.	a
reference to a document includes an amendment or supplement to, or replacement or novation of, that document; and



		5.	references
to sums of money are to amounts in US dollars.



 


Please
signify your acceptance of our offer by countersigning and returning to us the duplicate of this Agreement.


 


We
welcome you to join our Company and trust that your service with us will be of great value to our Company.


 


Yours
faithfully,


 


Pingtan
Marine Enterprise Limited


 





/s/ Xinrong Zhuo


Name: Xinrong Zhuo


Title: Chief Executive Officer 


 


I
agree to accept the appointment on the terms above stated and shall abide by the Company’s instructions.


 


	Appointee:	/s/
    LiMing Yung	 	Date:	December
    5, 2019


 


 


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