EXHIBIT 4.42


 


Employment Agreement


 


This Employment Agreement (this “Agreement”),
dated as of December 3, 2018, is entered into between China Biologic Products Holdings, Inc., a company established in the Cayman
Islands with its principal office located at 18th Floor, Jialong Int’l Tower, 19 Chaoyang Park Road, Beijing 100125, PRC
(“Company”), and Huaming He (the “Executive”).


 


WHEREAS, the Company desires to engage
the Executive as, and the Executive agrees to serve as, Executive Vice President and Chief Business Officer of the Company, upon
the terms and conditions contained herein.


 


NOW THEREFORE, for good and valuable consideration,
the sufficiency of which is hereby acknowledged by the parties, the parties hereby agree as follows:


 


	1. 	EFFECTIVENESS OF AGREEMENT AND EFFECTIVE DATE


 


This Agreement shall become effective as
of December 3, 2018. For the purpose of this Agreement, the term “Effective Date” means December 3, 2018.


 


	2. 	EMPLOYMENT AND DUTIES


 


2.1 General. The Executive will
perform such duties and services for the Company as may be designated from time to time by the Chief Executive Officer (the “CEO”)
of the Company. The Executive agrees to serve the Company faithfully and to the best of his ability under the direction of the
CEO and to carry out the functions typically performed by a Chief Business Officer. He further agrees to perform such duties in
accordance with the general fiduciary duties of officers and directors arising under the Cayman Islands Companies Law. The Executive
is expected and required to devote substantially all of his time and attention during normal business hours to the affairs of the
Company and/or its subsidiaries.


 


2.2 Term of Employment. The Executive’s
employment under this Agreement will commence as of the date hereof and will terminate on the second year of the Effective Date;
provided, however, that the term of the Executive’s employment will be automatically extended without further action of either
party for additional one (1) year periods unless written notice of either party’s intention not to extend has been given
to the other party hereto at least thirty (30) days prior to the expiration of the then effective term (the initial term and any
extensions thereof, the “Term of Employment”). Notwithstanding the foregoing, the Executive’s employment
may be terminated during the Term of Employment as provided in Section 5 below.


 


2.3 Reimbursement of Expenses. Unless
otherwise agreed to by the Executive and the Company, the Company will reimburse the Executive for reasonable travel and other
business expenses incurred by him to fulfill his duties hereunder upon presentation by the Executive of an itemized account of
such expenditures, in accordance with Company practices consistently applied.


 


	3. 	COMPENSATION


 


3.1 Base Salary. From the Effective
Date, the Executive will be entitled to receive a base salary (“Base Salary”) at a rate of US$450,000 per annum,
payable in accordance with the Company’s payroll practices and applicable law. If the rate of Base Salary per annum paid
to Executive is increased during the Term of Employment, such increased rate will thereafter constitute the Base Salary for all
purposes of this Agreement. Base Salary will not be decreased during the Term of Employment without the mutual consent of Executive
and the Company.


 




     


     


    

 


3.2 Annual Review. The Executive’s
Base Salary will be reviewed by the CEO, based upon the Executive’s performance not less than annually.


 


3.3 Bonus Compensation. In addition
to his Base Salary, the Executive would be eligible to receive additional bonus compensation as may be awarded to the Executive
from time to time by the CEO in the sole and absolute discretion of the CEO.


 


3.4 Additional Compensation. The
Company may, in its sole discretion, award the Executive equity-based compensation, and other cash allowances including housing
allowance. The Executive further will be eligible to participate in any employment compensation plan established by the Company
under the same terms as other Company executives and approved by the Board.


 


	4. 	EMPLOYEE BENEFITS


 


4.1 Leave. The Executive will be
entitled to accrue 15 working days paid annual leave each calendar year. All annual leave days will be taken at times mutually
agreed by the Executive and the Company and will be subject to the business needs of the Company. If, however, in any calendar
year during the Term of Employment, the Executive is unable to take any annual leave due to the business needs of the Company,
the Company, in its discretion, shall either pay the Executive the equivalent of 15 working days, or permit the Executive to carry
such leave over into the following calendar year.


 


4.2 Other Programs. The Executive
will, during his employment under this Agreement, be included to the extent eligible thereunder in all employee benefit plans,
programs or arrangements (including, without limitation, any plans, programs or arrangements providing for retirement benefits,
incentive compensation, profit sharing, bonuses, disability benefits, health and life insurance, or vacation and paid holiday)
which may be established by the Company for, or made available to, its executives generally.


 


	5.	TERMINATION OF EMPLOYMENT


 


5.1 Termination Events.


 


5.1.1 By the Company. The Company
may terminate the Executive’s employment immediately with Cause, without Cause upon ninety (90) days notice to the Executive,
or upon the Executive’s death or Permanent Disability (as hereinafter defined).


 


5.1.2 By the Executive. The Executive
may terminate his employment at any time for any reason upon ninety (90) days written notice to the Company.


 


5.2 Termination by Company. If the
Executive’s employment is terminated by the Company, the Company shall pay to the Executive all compensation to which the
Executive is entitled through the date of termination, and thereafter, all of the Company’s obligations under this Agreement
shall cease.


 


5.3 Voluntary Resignation. If the
Executive terminates his employment voluntarily, then the Executive shall not be entitled to receive payment of any severance benefits.
The Company further shall have the option, in its sole discretion, to make the Executive’s termination effective at any time
prior to the end of notice period required under Section 5.1.2 as long as the Company provides Executive with all compensation
to which he would be entitled for continuing employment through the last day of the notice period. Thereafter, all obligations
of the Company under this Agreement shall cease.


 




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5.4 Cause. Termination for “Cause”
means termination of the Executive’s employment by the Company because of:


 


(i) any act or omission that constitutes
a breach by the Executive of any of his obligations under this Agreement or any Company policy or procedure and failure to cure
such breach after notice of, and a reasonable opportunity to cure, such breach;


 


(ii) the continued willful failure or refusal
of the Executive to substantially perform the duties reasonably required of him as an employee of the Company;


 


(iii) an alleged act (with credible substantiated
evidence) of moral turpitude, dishonesty, fraud or violation of law (whether or not connected to the Company or its Affiliates
(as defined in Section 8.1)) by, or criminal conviction of, the Executive which in the determination of the Board (in its
sole discretion) would render his continued employment by the Company damaging or detrimental to the Company or its Affiliates
in any way; or


 


(iv) any misappropriation of Company property
by the Executive.


 


	6. 	DEATH OR DISABILITY


 


In the event of termination of employment
by reason of non-work-related death or Permanent Disability, the Executive (or his estate, as applicable) will be entitled to the
Base Salary and benefits determined under Sections 3 and 4 through the date of termination. In the event of termination
of employment by reason of work related death or Permanent Disability, the Executive (or his estate, as applicable) will be entitled
to the greater of (i) Base Salary and benefits determined under Sections 3 and 4 through the date of termination, or (ii) the minimum
compensation permitted by applicable law. Other benefits will be determined in accordance with the benefit plans maintained by
the Company, and the Company will have no further obligation hereunder. For purposes of this Agreement, “Permanent Disability”
means a physical or mental disability or infirmity of the Executive that prevents the normal performance of substantially all his
duties as an employee of the Company, which disability or infirmity exists for any continuous period of 180 days.


 


	
         7.
	CONFIDENTIALITY


 


7.1 Confidentiality. The Executive
covenants and agrees with the Company that he will not at any time during the Term of Employment and thereafter, except in performance
of his obligations to the Company hereunder or with the prior written consent of the Company, directly or indirectly, disclose
any secret or confidential information that he may learn or has learned by reason of his association with the Company or any of
its subsidiaries and Affiliates. The term “confidential information” includes information not previously made generally
available to the public or to the trade by the Company’s management, with respect to the Company’s or any of its subsidiaries’
or Affiliates’ products, facilities, applications and methods, trade secrets and other intellectual property, systems, procedures,
manuals, confidential reports, product price lists, customer lists, technical information, financial information (including the
revenues, costs or profits associated with any of the Company’s products), business plans, prospects or opportunities, but
will exclude any information which is or becomes generally available to the public or is generally known in the industry or industries
in which the Company operates other than as a result of disclosure by the Executive in violation of his agreements under Section
7.1. The Executive will be released of his obligations under this Section 7.1 to the extent the Executive is required
to disclose under any applicable laws, regulations or directives of any government agency, tribunal or authority having jurisdiction
in the matter or under subpoena or other process of law provided that the Executive provides the Company with prompt written notice
of such requirement. For the purposes of this Agreement, “Affiliate” means, with respect to any person or entity,
any other person or entity that is directly or indirectly through one or more intermediaries, controlled by, controlling or under
common control with such person or entity.


 




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7.2 Acknowledgment of Company Assets.
The Executive acknowledges that the Company, at the Company’s expense, has acquired, created and maintains, and will continue
to acquire, create and maintain, significant goodwill with its current and prospective customers, vendors and employees, and that
such goodwill is valuable property of the Company. The Executive further acknowledges that to the extent such goodwill will be
generated through the Executive’s efforts, such efforts will be funded by the Company and the Executive will be fairly compensated
for such efforts. The Executive acknowledges that all goodwill developed by the Executive relative to the Company’s customers,
vendors and employees will be the sole and exclusive property of the Company and will not be personal to the Executive.


 


7.3 Exclusive Property. The Executive
confirms that all confidential information is and will remain the exclusive property of the Company. All business records, papers
and documents kept or made by Executive relating to the business of the Company will be and remain the property of the Company,
except for such papers customarily deemed to be the personal copies of the Executive. Upon termination of the Executive’s
employment with the Company for any reason, the Executive will promptly deliver to the Company all of the following that are in
the Executive’s possession or under his control: (i) all computers, telecommunication devices and other tangible property
of the Company and its Affiliates, and (ii) all documents and other materials, in whatever form, which include confidential information
or which otherwise relate in whole or in part to the present or prospective business of the Company or its Affiliates, including
but not limited to, drawings, graphs, charts, specifications, notes, reports, memoranda, and computer disks and tapes, and all
copies thereof.


 


7.4 Communication to Third Parties.
The Executive agrees that Company will have the right to communicate the terms of this Section 7 to any third parties, including
but not limited to, any prospective employer of the Executive. The Company waives any right to assert any claim for damages against
Company or any officer, employee or agent of Company arising from such disclosure of the terms of this Section 7.


 


7.5 Independent Obligations. The
provisions of this Section 7 will be independent of any other provision of this Agreement. The existence of any claim or
cause of action by the Executive against the Company, whether predicated on this Agreement or otherwise, will not constitute a
defense of the enforcement of this Section 7 by the Company.


 


7.6 Non-Exclusivity. The Company’s
rights and the Executive’s obligations set forth in this Section 7 are in addition to, and not in lieu of, all rights
and obligations provided by applicable statutory or common law.


 


	8. 	INDEMNIFICATION


 


8.1 Indemnification of the Executive.
The Company agrees to indemnify Executive (and his heirs, executors, and administrators), and to advance expenses related to this
indemnification, to the fullest extent permitted under applicable law and regulations, against any and all expenses and liabilities
that Executive reasonably incurs in connection with or arising out of any action, suit, or proceeding in which he may be involved
by reason of his service as an Executive of the Company or any of its subsidiaries or Affiliates (whether or not he continues to
be an Executive at the time of incurring any such expenses or liabilities). Covered expenses and liabilities include, but are not
limited to, judgments, court costs, and attorneys’ fees and the costs of reasonable settlements, subject to Board approval,
if the action is brought against Executive in his capacity as an Executive of the Company or any of its subsidiaries or Affiliates.
Indemnification for expenses will not extend to matters related to Executive’s termination for Cause. Notwithstanding anything
in this Section 8.1 to the contrary, the Company will not be required to provide indemnification prohibited by applicable
law or regulation. The obligations of this Section 8.1 will survive the term of this Agreement by a period of six (6) years.


 


8.2 Indemnification of the Company.


 


The Executive will indemnify and keep the
Company fully indemnified at all times from and against all claims, suits, proceedings, fines, punishment, loss, damage, costs
and liabilities whatsoever incurred or sustained by the Company in connection with or arising out of or as a consequence of any
breach by the Executive of the confidentiality obligations set forth above.


 




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	9.	FOREIGN CORRUPT PRACTICES ACT


 


The Company and the Executive each represent
and warrant that it is aware of and familiar with the provisions of the Foreign Corrupt Practices Act of 1977, as amended by the
Omnibus Trade and Competitiveness Act of 1988 (“FCPA”), and the rules and regulations thereunder, and its purpose.
Each party agrees that it will take no action and make no payment in violation of, or which might cause the Company or the Executive
to be in violation of, the FCPA, including, but not limited to, the making of unlawful payments to foreign or domestic government
officials or employees or to any foreign or domestic political parties or campaigns from corporate funds.


 


	10. 	MISCELLANEOUS


 


10.1 Severability. The parties intend
this Agreement to be enforced as written. However, (i) if any portion or provision of this Agreement is to any extent be declared
illegal or unenforceable by a duly authorized court having jurisdiction, then the remainder of this Agreement, or the application
of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, will not
be affected thereby, and each portion and provision of this Agreement will be valid and enforceable to the fullest extent permitted
by law and (ii) if any provision, or part thereof, is held to be unenforceable because of the duration of such provision, the geographic
area covered thereby, or other aspect of the scope of such provision, the court making such determination will have the power to
reduce the duration, geographic area of such provision, or other aspect of the scope of such provision, and/or to delete specific
words and phrases (“blue-penciling”), and in its reduced or blue-penciled form, such provision will then be
enforceable and will be enforced.


 


10.2 Assignment. The rights and
obligations of this Agreement will bind and inure to the benefit of any successor of the Company by reorganization, merger or consolidation,
or any assignee of all or substantially all of the Company’s business and properties. Neither this Agreement nor any rights
hereunder will be assignable or otherwise subject to hypothecation by the Executive.


 


10.3 Entire Agreement. This Agreement
represents the entire agreement of the Company and the Executive and will supersede any and all previous contracts, arrangements
or understandings.


 


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IN WITNESS WHEREOF, the Executive and the
authorized representative of China Biologic Products Holdings, Inc., execute and enter into this Agreement as of the date first
written above.


 


	 	EXECUTIVE
	 	 
	 	/s/ Huaming He
	 	Huaming He


 


	 	CHINA BIOLOGIC PRODUCTS HOLDINGS,
INC.
	 	 
	 	By: 	/s/ Bing Li
	 	Name:	 Bing Li
	 	Title:	 Chief Executive Officer 
	 	Date: 	December 3, 2018


 








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