Document:

isigform8kexh10

 

 

DocuSign Envelope
ID: FD02E669-7EBF-4E13-BB94-75994DC5C7E8

 

 

#004814817107####################

 

PROMISSORY
NOTE

 

	

Borrower:

	

Insignia Systems, Inc.

	

Lender:

	

Alerus Financial, N.A.

	
 

	

8799 Brooklyn Blvd

	
 

	

2300 S
Columbia Rd

	
 

	

Minneapolis, MN 55445-0000

	
 

	

Grand
Forks, ND 58201

	
 

	
 

	
 

	

(800)
279-3200

 

	

Principal Amount: $1,054,200.00

	

Date of Note: April 22, 2020

 

PROMISE
TO PAY. Insignia Systems, Inc. ("Borrower") promises to pay to
Alerus Financial, N.A. ("Lender"), or order, in lawful money of the
United States of America, the principal amount of One Million
Fifty-four Thousand Two Hundred & 00/100 Dollars
($1,054,200.00), together with interest on the unpaid principal
balance from April 22, 2020, calculated as described in the
"INTEREST CALCULATION METHOD" paragraph using an interest rate of
1.000% per annum based on a year of 360 days, until paid in full.
The interest rate may change under the terms and conditions of the
"INTEREST AFTER DEFAULT" section.

 

PAYMENT.
Borrower will pay this loan in 18 payments of $59,337.80 each
payment. Borrower's first payment is due November 22, 2020, and all
subsequent payments are due on the same day of each month after
that. Borrower's final payment will be due on April 22, 2022, and
will be for all principal and all accrued interest not yet paid.
Payments include principal and interest. Unless otherwise agreed or
required by applicable law, payments will be applied first to any
accrued unpaid interest; then to principal; and then to any unpaid
collection costs. Borrower will pay Lender at Lender's address
shown above or at such other place as Lender may designate in
writing.

 

PAYMENT
AMORTIZATION. Lender
reserves the right to change the monthly principal and interest
payment due on the note to cause the note to fully amortize by the
maturity date. The payment will be reviewed for any necessary
adjustment and will be changed accordingly 45 days prior to the
first payment date of November 22, 2020.

 

INTEREST
CALCULATION METHOD. Interest on this Note is computed on a 365/360
basis; that is, by applying the ratio of the interest rate over a
year of 360 days, multiplied by the outstanding principal balance,
multiplied by the actual number of days the principal balance is
outstanding. All interest payable under this Note is computed using
this method.

 

PREPAYMENT. Borrower may pay without
penalty all or a portion of the amount owed earlier than it is due.
Early payments will not, unless agreed to by Lender in writing,
relieve Borrower of Borrower's obligation to continue to make
payments under the payment schedule. Rather, early payments will
reduce the principal balance due and may result in Borrower's
making fewer payments. Borrower agrees not to send Lender payments
marked "paid in full", "without recourse", or similar language. If
Borrower sends such a payment, Lender may accept it without losing
any of Lender's rights under this Note, and Borrower will remain
obligated to pay any further amount owed to Lender. All written communications concerning disputed
amounts, including any check or other payment instrument that
indicates that the payment constitutes "payment in full" of the
amount owed or that is tendered with other conditions or
limitations or as full satisfaction of a disputed amount must be
mailed or delivered to: Alerus Financial, N.A., Main Office, P.O.
Box 6001 Grand Forks, ND 58206-6001.

 

INTEREST AFTER DEFAULT. Upon default,
including failure to pay upon final maturity, the total sum due
under this Note will continue to accrue interest at the interest
rate under this Note.

 

DEFAULT. Each of the following shall
constitute an event of default ("Event of Default") under this
Note:

 

Payment Default. Borrower fails to make
any payment when due under this Note.

 

Other Defaults. Borrower fails to comply
with or to perform any other term, obligation, covenant or
condition contained in this Note or in any of the related documents
or to comply with or to perform any term, obligation, covenant or
condition contained in any other agreement between Lender and
Borrower.

 

False Statements. Any warranty,
representation or statement made or furnished to Lender by Borrower
or on Borrower's behalf under this Note or the related documents is
false or misleading in any material respect, either now or at the
time made or furnished or becomes false or misleading at any time
thereafter.

 

Insolvency. The dissolution or
termination of Borrower's existence as a going business, the
insolvency of Borrower, the appointment of a receiver for any part
of Borrower's property, any assignment for the benefit of
creditors, any type of creditor workout, or the commencement of any
proceeding under any bankruptcy or insolvency laws by or against
Borrower.

 

Creditor or Forfeiture Proceedings.
Commencement of foreclosure or forfeiture proceedings, whether by
judicial proceeding, self-help, repossession or any other method,
by any creditor of Borrower or by any governmental agency against
any collateral securing the loan. This includes a garnishment of
any of Borrower's accounts, including deposit accounts, with
Lender. However, this Event of Default shall not apply if there is
a good faith dispute by Borrower as to the validity or
reasonableness of the claim which is the basis of the creditor or
forfeiture proceeding and if Borrower gives Lender written notice
of the creditor or forfeiture proceeding and deposits with Lender
monies or a surety bond for the creditor or forfeiture proceeding,
in an amount determined by Lender, in its sole discretion, as being
an adequate reserve or bond for the dispute.

 

Events Affecting Guarantor. Any of the
preceding events occurs with respect to any guarantor, endorser,
surety, or accommodation party of any of the indebtedness or any
guarantor, endorser, surety, or accommodation party dies or becomes
incompetent, or revokes or disputes the validity of, or liability
under, any guaranty of the indebtedness evidenced by this
Note.

 

Change In Ownership. Any change in
ownership of twenty-five percent (25%) or more of the common stock
of Borrower.

 

Adverse Change. A material adverse
change occurs in Borrower's financial condition, or Lender believes
the prospect of payment or performance of this Note is
impaired.

 

LENDER'S RIGHTS. Upon default, Lender
may declare the entire unpaid principal balance under this Note and
all accrued unpaid interest immediately due, and then Borrower will
pay that amount.

 

ATTORNEYS' FEES; EXPENSES. Lender may
hire or pay someone else to help collect this Note if Borrower does
not pay. Borrower will pay Lender that amount. This includes,
subject to any limits under applicable law, Lender's reasonable
attorneys' fees and Lender's legal expenses, whether or not there
is a lawsuit, including reasonable attorneys' fees, expenses for
bankruptcy proceedings (including efforts to modify or vacate any
automatic stay or injunction), and appeals. If not prohibited by
applicable law, Borrower also will pay any court costs, in addition
to all other sums provided by law.

 

WHEN FEDERAL LAW APPLIES. When SBA is
the holder, this Note will be interpreted and enforced under
federal law, including SBA regulations. Lender or SBA may use state
or local procedures for filing papers, recording documents, giving
notice, foreclosing liens, and other purposes. By using such
procedures, SBA does not waive any federal immunity from state or
local control, penalty, tax, or liability. As to this Note,
Borrower may not claim or assert against SBA any local or state law
to deny any obligation, defeat any claim of SBA, or preempt federal
law.

 

CHOICE OF VENUE. If there is a lawsuit,
Borrower agrees upon Lender's request to submit to the jurisdiction
of the courts of Grand Forks County, State of North
Dakota.

 

RIGHT OF SETOFF. To the extent permitted
by applicable law, Lender reserves a right of setoff in all
Borrower's accounts with Lender (whether checking, savings, or some
other account). This includes all accounts Borrower holds jointly
with someone else and all accounts Borrower may open in the future.
However, this does not include any IRA or Keogh accounts, or any
trust accounts for which setoff would be prohibited by law.
Borrower authorizes Lender, to the extent permitted by applicable
law, to charge or setoff all sums owing on the debt against any and
all such accounts.

 

ADDENDUM TO NOTE. An exhibit, titled
"Addendum to Note," is attached to this Note and by this reference
is made a part of this Note just as if all the provisions, terms
and conditions of the Exhibit had been fully set forth in this
Note.

 

SUCCESSOR INTERESTS. The terms of this
Note shall be binding upon Borrower, and upon Borrower's heirs,
personal representatives, successors and assigns, and shall inure
to the benefit of Lender and its successors and
assigns.

 

GENERAL PROVISIONS. If any part of this
Note cannot be enforced, this fact will not affect the rest of the
Note. Lender may delay or forgo enforcing any of its rights or
remedies under this Note without losing them. Borrower and any
other person who signs, guarantees or endorses this Note, to the
extent allowed by law, waive presentment, demand for payment, and
notice of dishonor. Upon any change in the terms of this Note, and
unless otherwise expressly stated in writing, no party who signs
this Note, whether as maker, guarantor, accommodation maker or
endorser, shall be released from liability. All such parties agree
that Lender may renew or extend (repeatedly and for any length of
time) this loan or release any party or guarantor or collateral; or
impair, fail to realize upon or perfect Lender's security interest
in the collateral; and take any other action deemed necessary by
Lender without the consent of or notice to anyone. All such parties
also agree that Lender may modify this loan without the consent of
or notice to anyone other than the party with whom the modification
is made. The obligations under this Note are joint and
several.

 

 

 

 

PROMISSORY NOTE

(Continued)

 

 

	

Loan No: 4814817107

	

Page 2

 

 

PRIOR
TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE
PROVISIONS OF THIS NOTE. BORROWER AGREES TO THE TERMS OF THE
NOTE.

 

BORROWER
ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE.
BORROWER:

 

	

INSIGNIA SYSTEMS, INC.

	
 

	
 

	
 

	
 

	
 

	
 

	

By:

	

                       4/22/2020

	

By:

	

                       4/22/2020

	
 

	

Jeffrey Jagerson, CFO of Insignia Systems, Inc.

	
 

	

Kristine A Glancy, CEO of Insignia Systems, Inc.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

 

 

 

LaserPro,
Ver. 19.4.10.036 Copr. Finastra USA Corporation 1997, 2020. All
Rights Reserved. - ND L:\CFI\LPL\D20.FC TR-14676
PR-224

 

 

 

 

ADDENDUM TO NOTE

 

	

Borrower:

	

Insignia Systems, Inc.

	

Lender:

	

Alerus Financial, N.A.

	
 

	

8799 Brooklyn Blvd

	
 

	

2300 S
Columbia Rd

	
 

	

Minneapolis, MN 55445-0000

	
 

	

Grand
Forks, ND 58201

	
 

	
 

	
 

	

(800)
279-3200

 

This
ADDENDUM TO NOTE is attached to and by this reference is made a
part of the Promissory Note, dated April 22, 2020, and executed in
connection with a loan or other financial accommodations between
ALERUS FINANCIAL, N.A. and Insignia Systems, Inc.

 

SBA
Loan Name: Paycheck Protection Program

 

DEFINITIONS:

 

“Collateral”
means any property taken as security for payment of this Note or
any guarantee of this Note. “Guarantor” means each
person or entity that signs a guarantee of payment of this
Note.

 

“Loan”
means the loan evidenced by this Note.

 

“Loan
Documents” means the documents related to this loan signed by
Borrower, any Guarantor, or anyone who pledges
collateral.

 

“SBA”
means the Small Business Administration, an Agency of the United
States of America.

 

DEFAULT:

Borrower is in
default under this Note if Borrower does not make a payment when
due under this Note, or if Borrower:

 

Does
not preserve, or account to Lender’s satisfaction for, any of
the Collateral or its proceeds;

 

Does
not disclose, or anyone acting on their behalf does not disclose,
any material fact to Lender or SBA;

 

Makes,
or anyone acting on their behalf makes, a materially false or
misleading representation to Lender or SBA;

 

Fails
to pay any taxes when due;

 

Makes
an assignment for the benefit of creditors;

 

Reorganizes,
merges, consolidates, or otherwise changes ownership or business
structure without Lender’s prior written consent;
or

 

Becomes
the subject of a civil or criminal action that Lender believes may
materially affect Borrower’s ability to pay this
Note.

 

LENDER’S
RIGHTS IF THERE IS A DEFAULT:

Without
notice or demand and without giving up any of its rights, Lender
may:

 

Collect
all amounts owing from any Borrower or Guarantor; File suit and
obtain judgment;

 

Take
possession of any Collateral; or

 

Sell,
lease, or otherwise dispose of, any Collateral at public or private
sale, with or without advertisement.

 

LENDER’S
GENERAL POWERS:

Without
notice and without Borrower’s consent, Lender
may:

 

Bid on
or buy the Collateral at its sale or the sale of another
lienholder, at any price it chooses;

 

Incur
expenses to collect amounts due under this Note, enforce the terms
of this Note or any other Loan Document, and preserve or dispose of
the Collateral. Among other things, the expenses may include
payments for property taxes, prior liens, insurance, appraisals,
environmental remediation costs, and reasonable attorney’s
fees and costs. If Lender incurs such expenses, it may demand
immediate repayment from Borrower or add the expenses to the
principal balance;

 

Release
anyone obligated to pay this Note;

 

Compromise,
release, renew, extend or substitute any of the Collateral;
and

 

Take
any action necessary to protect the Collateral or collect amounts
owing on this Note.

 

SUCCESSORS
AND ASSIGNS:

Under
this Note, Borrower includes its successors, and Lender includes
its successors and assigns.

 

GENERAL
PROVISIONS:

Borrower waives all
suretyship defenses.

 

Borrower may not
use an oral statement of Lender or SBA to contradict or alter the
written terms of this Note.

 

To the
extent allowed by law, Borrower waives all demands and notices in
connection with this Note, including presentment, demand, protest,
and notice of dishonor.

 

Borrower also
waives any defenses based upon any claim that Lender did not obtain
any guarantee; did not obtain, perfect, or maintain a lien upon
Collateral; impaired Collateral; or did not obtain the fair market
value of Collateral at a sale.

 

BORROWER
IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THE NOTE, THE LOAN
DOCUMENTS AND ANY OTHER INSTRUMENTS OR AGREEMENTS EXECUTED BY ANY
PARTY IN CONNECTION HEREWITH OR THEREWITH.

 

THIS
ADDENDUM TO NOTE IS EXECUTED ON APRIL 22, 2020.
BORROWER:

 

INSIGNIA
SYSTEMS, INC.

	
 

	
 

	

By:

	

                       4/22/2020

	
 

	

Jeffrey
Jagerson, CFO of Insignia Systems, Inc.

	
 

	
 

	

By:

	

                       4/22/2020

	
 

	

Kristine A Glancy, CEO of Insignia Systems, Inc.Exhibit 10.21

  

Job
number:

 

Cana
Technology Co., Ltd.

 

JIANA
Science and Technology Co., Ltd.

 

Labor
Contract

 

Party
A (employer) name: Jiana Technology Co., Ltd. 

Address:
7cde, Jinfeng Building, Shangbu South Road, Futian District, Shenzhen, Guangdong 

Phone:
0755-83581568

  

Party
B (Employee) Name: Wang Jirong Gender: Male 

Identity
Card Number: 

Current
residence: 604, Building 2, Tongxinling, Shangbu Road, Futian District, Shenzhen

Place
of residence: Shenzhen, Guangdong

  

     

     

    

 

Party
A and Party B follow the principles of voluntariness, equality, and consensus in accordance with the Labor Contract Law of the
People's Republic of China and relevant labor laws, regulations, administrative regulations, and rules and regulations formulated
by enterprises on the establishment of labor relations and their rights and obligations. , Unanimously agree to conclude this
labor contract (hereinafter referred to as the contract), abide by the terms listed in the contract, and confirm that the contract
is the basis for resolving disputes.

 

Party
A has informed Party B of the employment conditions, work content, job responsibilities, working conditions, work place, occupational
hazards, work safety conditions, labor compensation, labor discipline, the contents of the employee manual, and other information
required by Party B.

 

Party
B is aware of the employment conditions, job content, job responsibilities, working conditions, work place, occupational hazards,
work safety status, labor remuneration, labor discipline, employee manual content, and other relevant information.

 

Party
B ensures the authenticity and legitimacy of the material information provided by Party B to Party A. Party B guarantees that
it has terminated labor relations with all the previously employed units and does not have any restriction on competition with
all the previously employed units.

 

Article
1 Duration of Labor Contract

 

(I)
The term of this contract is a fixed-term labor contract. The contract period between the two parties is 2 years, that is, the
contract period starts from November 1, 2019 to October 30, 2021.

 

(2)
If the starting time of Party B is not consistent with the agreed time, the date of actual arrival shall be the starting time
of the contract.

 

(3)
During the probation period, Party B's job performance, post skills requirements, R & D technical capabilities, sales performance
completion, etc. have not met Party A's employment requirements, and Party A has the right to terminate the labor contract relationship
at any time.

  

    1

     

    

 

Article
2: Jobs and Work Places

 

(1)
Party A hires Party B for CFO work. For the job responsibilities of this post, please refer to the detailed description
in Party A's relevant company rules and regulations.

 

(2)
If Party A needs to adjust Party B's job due to work needs, in principle, they should reach consensus, except in the following
cases:

 

1.When
Party A needs to transfer Party B's work due to changes in production and operation service needs, organizational settings, personnel
changes, etc., Party B is willing to obey Party A's arrangements.

 

2.Party
B is incapable of work due to skills, physical and other factors.

 

3.Party
A may reasonably adjust Party B's job position and work content in the production and operation process based on the evaluation
results of Party B and Party B's professionalism, expertise, work ability and performance.

 

(3)
Party B agrees that Party A accepts the work arranged by Party A that is not within the scope of this contract without changing
the terms of this contract according to production and business needs.

 

(4)
Party B's working place is: Shenzhen (Jinfeng Building)

 

(5)
If Party B temporarily works outside the above work place due to Party A's work, Party B agrees to obey the work arrangement and
actively complete the work tasks. At the same time, Party B agrees that according to Party A's production and management needs,
it can be located in Party A's branch or related Work at company location.

 

Article
3 Working Hours and Breaks

 

(I)
Both parties A and B shall implement the following __1___ working hours system through negotiation.

 

1.
Standard working hours, that is, 40 hours of work per week, with at least one day off per week. However, overtime caused by Party
A's normal work content is not completed during working hours, and is not included in the definition of "overtime and overtime";
A Party B has the right to adjust Party B's working hours and rest days according to business needs.

 

2.
Irregular work system, Party B's commute time is determined according to work needs and Party A's arrangements. Party A adopts
appropriate methods such as centralized work, centralized rest, shift vacations, flexible working hours, etc. to ensure employees'
rights to rest and production 2.Completion of work tasks.

 

3.Comprehensive
calculation of the working hour system, the average daily and average weekly working hours within the time period specified by
Party A shall not exceed the legal standard working hours.

 

(2)
If Party A does arrange for Party B to work overtime due to work needs, Party B shall pay Party B's overtime fees in accordance
with the regulations. At the same time, Party B must obtain Party A's confirmation and consent for overtime, otherwise it will
not be considered as overtime.

 

(3)
Party B's attendance, overtime and vacation shall be implemented in accordance with the relevant management system formulated
by Party A.

  

    2

     

    

 

Article
4 Salary and Insurance Benefits

 

(1)
After the agreement between Party A and Party B, Party B's salary shall be determined according to the following paragraph 1:

 

1.Party
A pays Party B's monthly normal working hours in currency form as RMB 20,000 per month before tax.

 

2.According
to the position of Party B, Party A pays Party B's position allowance and performance evaluation benefits. The specific criteria
are determined in the Registration Form for Party B's employment. Party B has understood and agreed to abide by Party A's relevant
compensation and benefits system.

 

3.Party
A implements the piece rate wage system. For details, please refer to Party A's remuneration system.

 

(2)
The various subsidies, bonuses and benefits enjoyed by Party B shall be implemented in accordance with the salary distribution
system, methods and standards formulated by Party A in accordance with the law.

 

(3)
Party B's personal income tax shall be withheld and paid by Party A from Party B's monthly salary.

 

(4)
Party A's monthly salary payment day is the 10th of the previous month. In case of rest days or statutory holidays, Party B agrees
that Party A will be paid 1-3 working days in advance or later.

 

(5)
Party A may adjust Party B's salary level based on the actual production and operation conditions, internal rules and regulations,
labor remuneration distribution methods formulated in accordance with the law, and changes in Party B's job positions, the results
of Party B's assessment, the number of years of work, and the record of rewards and penalties.

 

(6)
Party A draws a certain percentage of rewards to employees based on the operating efficiency of the enterprise. The rewards include
year-end rewards and irregular performance rewards.

 

    3

     

    

 

(7)
If Party B disagrees with the time and amount of Party A's actual payment of wages, they shall notify Party A within three days
after each wage is signed or paid.

 

If
it is submitted in writing, if Party B does not submit within this period, it is deemed that Party B recognizes that Party A has
paid enough current wages on time, and Party A will not pay any subsequent payment requirements of Party B for current wages.

 

(8)
During the period of the labor contract, Party A handles social insurance for Party B and pays the employee's pension and medical
insurance costs that the company should bear; Party B has the right to deduct from the salary for the employee who did not pay
the salary in the month of termination when Party B agreed to leave The social security premiums paid by Party A on the day of
full attendance. If Party B cannot provide an effective social security application, and the social security payment is delayed
or cannot be paid, the losses and related costs incurred during this period shall be borne by Party B himself.

 

(9)
Party B enjoys the paid vacation stipulated by the company. For detailed regulations, please refer to the Employee Management
Regulations;

 

(10)
Changes in wages caused by Party B's work adjustment shall be based on the salary scale, and no additional contract shall be signed.

 

Article
5 Labor protection

 

		(–)	Party
                                         B shall abide by Party A's legal system and safety operation
                                         regulations in accordance with national and local governments regarding safety and labor
                                         protection.

 

Work
instructions or work instructions.

 

(2)
Party A provides Party B with the necessary working conditions and working environment to ensure that Party B successfully performs
its work duties.

 

Article
6. Labor Disciplines and Rules and Regulations

 

(1)
Party A establishes and improves various rules and regulations in accordance with the law. Party A shall publicize or inform Party
B of the formulated and changed rules and regulations in a timely manner, and Party B shall strictly abide by them.

 

(2)
During the contract period, Party B shall comply with the various rules and regulations formulated by Party A in accordance with
the law and obey Party A's work arrangements; complete its own work on time, quality and quantity; strictly abide by the operating
rules and regulate its own words and deeds. Maintain Party A's corporate image and reputation.

 

    4

     

    

 

(3)
Party B promises that when performing its duties for Party A, it shall not use any technical secrets or other commercial secrets
belonging to others without authorization.

 

Information,
or unauthorized conduct of acts that may infringe on the intellectual property rights of others. If Party B violates the foregoing
commitments and causes Party A to be accused of infringement by a third party, Party B shall bear all losses suffered by Party
A as a result.

 

(4)
Without Party A's consent, Party B shall not operate or produce similar products and engage in similar business for Party A during
the term of Party A. Party B shall not hold any position in a unit that has a competitive relationship with Party A, including
Shareholders, partners, directors, supervisors, managers, employees, agents, consultants, consultants, etc. No information will
be provided to such companies, and other business activities will not occur.

 

(5)
Without the consent of Party A, Party B shall not be the shareholders, partners, directors, supervisors, managers, employees,
agents, consultants, etc. of Party A's suppliers and Party A's customers during his term of office.

 

(6)
Party B shall not use the company's resources for personal gain.

 

(7)
Without the written consent of Party A, Party B shall not work concurrently in other units.

 

(8)
Party B violates labor discipline, and Party A may give corresponding administrative treatment, administrative sanctions, economic
punishment, etc. according to the rules and regulations of the unit until the termination of this contract.

 

Article
7. Confidentiality Provisions and Restrictions on Prohibition of Competition

 

(1)
Party B shall be careful to keep Party A's technical information and trade secrets known to him. Party A may sign confidentiality
agreements, agreement related to job results, competition restrictions, etc. with Party B within the contract time according to
the needs of the company's operations and development. Agreement. When Party B is required to sign the above agreement, and the
content of this agreement complies with relevant national laws and regulations, Party B shall implement it.

 

(2)
The technical information and trade secrets of Party A referred to in this contract are not limited to the technical information
and trade secrets of Party A's own enterprises, but also include the technical information and trade secrets of Party A or other
member companies affiliated with it due to business transactions, and Party A is aware of the confidentiality obligations of the
other party in accordance with the provisions of the law (such as during the contracting process) or the external obligations
of confidentiality stipulated in relevant agreements (such as cooperation agreements, etc.).

  

    5

     

    

 

The
technical information and business secrets specifically include (but are not limited to): technical secrets, product secrets,
project secrets, transaction secrets, business secrets, management secrets, and technical information, business information, management
information, etc.

 

(3)
During the term of Party A, Party B must comply with any written or unwritten confidentiality rules and systems stipulated by
Party A, and perform its duties of confidentiality corresponding to its job position.

 

(4)
Party B promises that, without Party A's consent, during the term of office, he shall not disclose, notify, announce, publish,
publish, impart, transfer or any other means to make any third party (including those who are not aware of the secret in accordance
with the provisions of the confidentiality system). (Party A's other staff) are aware of the confidential information provided
in this Article, and Party B does not use Party A's technical information or trade secrets.

 

(V)
The confidentiality obligations stipulated in this contract are not limited to the period during which both parties maintain labor
relations. After Party B promises to leave office, Party B promises to keep confidential during the period of service of Party
A or knows that it belongs to Party A or although it belongs to a third party. Shall bear the same confidentiality responsibilities
as during his term of office, regardless of the reasons for Party B leaving. Party B's confidentiality obligation shall continue
until the date when the confidential information is disclosed by Party A or known to the public.

 

(6)
If Party B is found to have failed to fulfill the confidentiality obligations agreed upon in this contract, and disclosed Party
A's technical information and business secrets, Party A has the right to give administrative sanctions until the termination of
the employment contract, and has the right to require Party B to assume corresponding liabilities for breach of contract according
to the severity Party B shall compensate Party A for all losses caused by the disclosure of Party A's technical information and
business secrets. At the same time, Party A will require Party B to bear corresponding liabilities in accordance with relevant
national and local laws and regulations.

  

    6

     

    

 

Article
8 Alteration, Termination, Termination and Renewal of Labor Contracts

 

(I)
Changes in labor contracts

 

1.When
the laws, administrative regulations, and administrative rules on which this contract is concluded change, this contract shall
change the relevant content;

 

2.If
there is a significant change in the objective circumstances on which this contract is based, which makes it impossible to perform
this contract, it shall be agreed upon by both parties

 

Can
change the content of the labor contract;

 

3.The
modification of the labor contract shall be in written form, and the modified labor contract shall be held by each party.

 

(2)
Termination of labor contract

 

1.The
parties A and B terminate the labor contract in accordance with the law or after the two parties have reached consensus, unless
otherwise agreed.

 

2.If
Party B has any of the following circumstances, Party A has the right to terminate the labor contract without giving Party B any
economic compensation:

 

(1)
Party B proves that it does not meet Party A's employment conditions or employment standards during the trial period; the employment
conditions or employment standards can be found in the detailed description of Party A's relevant company rules and regulations.

 

(2)
Serious violations of Party A's labor discipline or rules and regulations or causing significant losses to Party A's interests;
the definition of the act and the specific extent of the significant damage are detailed in the detailed description of Party
A's relevant rules and regulations.

 

(3)
Party B's serious dereliction of duty, malpractices for private business, and significant damage to Party A's interests; the definition
of this behavior and the specific extent of the significant damage are detailed in the detailed description of Party A's relevant
company rules and regulations.

 

(4)
According to Party A's rules and regulations (including but not limited to employee manuals, reward and punishment measures, performance
management measures, etc.), the contract can be terminated without compensation.

 

(5)
Party B refuses to sign Party A's documents or refuses to sign a Confidentiality Agreement or a Restriction Agreement on Competition
with Party A without justified reasons.

 

(6)
Party B violates the confidentiality agreement signed with Party A separately.

 

(7)
Party B has unfaithful or fraudulent behaviors, including but not limited to: the certificate of resignation, identity certificate,
family register certificate, academic certificate, medical certificate, sick leave certificate, etc. are false or forged; suffer
from mental illness, infectious disease before applying And other diseases that have a serious impact on work and are not declared
at the time of application; have had inferiority such as drug abuse before being applied for, have been reeducated through labor,
detained, or have not been declared when applying for criminal responsibility according to law; etc. False statements such as
working hours, positions, projects involved, etc.), providing false invoices, credentials and documents during the work process;

  

    7

     

    

 

(8)
Party B establishes a labor relationship with another employer or holds a part-time job in another employer.

 

(9)
During the extraordinary period of the company's emergency tasks, those who refuse to obey the tasks assigned by the superiors,
such as overtime and business trips in special circumstances;

 

(10)
Accepting bribes from customers and suppliers, or accepting gifts, red envelopes, and banquets from customers and suppliers, causing
adverse effects or losses to the company;

 

(11)
Party B is investigated for criminal responsibility or is being reeducated through labor.

 

(12),
other circumstances stipulated by laws and regulations.

 

3.In
any of the following circumstances, Party A shall notify Party B in writing 30 days in advance or pay Party B an additional month
of salary

 

After
that, the labor contract can be terminated:

 

(1)
Party A is on the verge of bankruptcy and undergoing reorganization (reorganization) or serious difficulties in production and
operation, or the company needs to reduce staff due to enterprise conversion, major technological innovation, and adjustment of
business methods;

 

(2)
Party B is ill or not injured due to work, and cannot perform the original work after the prescribed medical period expires, and
cannot perform work arranged by the unit;

 

(3)
Party B is not qualified for the job, and after training or adjustment of job positions, it is still not qualified for the job;

 

(4)
A significant change in the objective circumstances on which the labor contract was concluded makes the labor contract unable
to be performed.

 

The
parties failed to reach an agreement on changing the content of the labor contract.

 

4.Party
A has forced Party B to work by means of violence, threats or illegal restrictions on personal freedom, or Party A has violated
the command and forced risk

 

If
the operation endangers Party B's personal safety, Party B may immediately terminate the labor contract.

  

    8

     

    

 

5.If
Party B has any of the following circumstances, Party A shall not terminate the labor contract during the contract period:

 

(1)
Sick or injured within the prescribed medical period;

 

(2)
Female employees during pregnancy, childbirth and lactation;

 

(3)
Suffering from an occupational disease or injury due to work at Party B and being confirmed to have lost or partially lost his
ability to work;

 

(4)
Those who have worked in the unit for fifteen consecutive years and are less than five years from their legal retirement age;

 

(5)
Other circumstances stipulated by laws and administrative regulations.

 

6.
Party B can terminate the labor contract by notifying Party A in writing 30 days in advance; Party B agrees that if the above
procedures are not followed,

 

It
is agreed to compensate Party A based on Party B's one-month salary standard. Party B can terminate the labor contract by notifying
Party A three days in advance during the probation period. Party B agrees to agree to Party A's three-day salary standard if Party
A does not comply with the above procedures However, if Party B has one of the following circumstances, Party B shall not terminate
the labor contract without Party A's written consent:

 

(1)
The labor contract is being performed. Party B is engaged in an important job position or an important business development task
(project) in Party A.

 

Resignation
will cause significant losses to Party A;

 

(2)
The economic losses caused by Party B to Party A have not yet been completed or the case has not been concluded after judicial
or administrative processing;

 

(3)
Party B has a service period agreement with Party A.

 

7.
If Party B participates in Party A's project, the labor contract can be terminated unilaterally after the project ends. If Party
B resigns when the project is not completed, Party B shall deal with it according to the provisions of Party A's project management
measures. If Party A has no project management regulations, Party B shall Take full compensation for his last month's wages and
bonuses, and compensate direct and indirect losses to Party A.

 

8.If
Party B resigns and does not handle the transfer of work content, transfer of technical information, transfer of customer information,
and transfer of property in accordance with the provisions of Party A,

 

It
has no right to require Party A to pay outstanding wages, royalties, etc.At the same time, Party A has the right to hold Party
B to cause Party A to cause economic losses due to its liability for breach of contract.

 

If
Party B fails to complete the work transfer formalities for more than five working days and causes Party A's economic losses,
Party B shall be liable for compensation.

  

    9

     

    

 

(3)
The labor contract is terminated under any of the following circumstances:

 

1.The
labor contract expires;

 

2.Party
B has reached the legal retirement age or has begun to enjoy basic pension insurance benefits in accordance with the law;

 

3.Party
B died or was declared dead or missing by a people's court;

 

4.Party
A was declared bankrupt according to law;

 

5.Party
A dissolves, has its business license cancelled or is ordered to close;

 

6.There
are other circumstances stipulated by laws and administrative regulations.

 

(IV)
Renewal of labor contract

 

1.When
the term of the labor contract expires, the labor contract can be renewed after mutual agreement between the parties; if Party
B decides not to continue the labor relationship,

 

Party
A shall be notified in writing within 30 days before the expiration of the contract.

 

2.
Before the expiry of the term of the labor contract, if Party A maintains or raises the terms of the labor contract and notifies
Party B to renew, Party B shall reply in writing within five working days after receiving the notification. Agree to renew.

 

Article
9 Handling of Labor Disputes

 

If
a dispute arises due to the performance of this contract, the two parties shall resolve the dispute through negotiation. If the
settlement is not successful, they may apply to the labor dispute arbitration commission where Party A is located, or directly
apply to the labor dispute arbitration commission for arbitration. Party A has filed a lawsuit in a people's court with jurisdiction.

 

Article
10 Other matters agreed by both parties

 

(1)
Party B's technical secrets, product secrets, project secrets, transaction secrets, or other trade secret information completed
in the course of Party A's performance of its duties or business activities, or Party B's use of Party A's material conditions
(including but not limited to Party A (Machines, equipment, etc.) and technical conditions of inventions, works, computer software,
technical secrets or other trade secrets. As a result of the work, all rights related to it, including patent rights, belong to
Party A.

 

(2)
Party A's rules and regulations (including but not limited to employee manuals, job duties, training agreements, confidentiality
agreements, remuneration systems, performance appraisal systems, safety standards, etc.) are all annexes to the contract, with
the same effect as the contract terms. Confirmed that when signing this agreement with Party A, Party A provided them with various
rules and regulations, including the Employee Handbook, and Party B has clearly understood and approved the contents of various
rules and regulations, including the Employee Handbook. And agree to comply.

  

    10

     

    

 

(3)
If the contract does not cover the matters and the two parties have agreed otherwise, the agreement shall prevail; if the parties
have not agreed, the laws, regulations and rules and regulations formulated by Party A shall be implemented.

 

(4)
Any Labor Contract previously signed by the two parties shall automatically expire from the date of this contract. The text of
other relevant agreements signed before (including but not limited to the Confidentiality Agreement and the Agreement on Restriction
on Business Competition) and this Agreement If the contract is inconsistent, this contract shall prevail.

 

(5)
Party B violates the agreement of this contract, including but not limited to Party B's breach of contract or termination of employment.
Party B shall compensate Party A for economic losses, loss of available profits and reasonable expenses paid by Party A for investigating
Party B's breach of contract (including (But not limited to Party A's attorney fees, notarization fees, litigation costs, security
fees, etc.). Party A has the right to deduct corresponding losses from Party B's wages and economic compensation, and the wages
and economic compensation are not enough to compensate for the losses. Party B shall continue to bear liability for compensation.

 

(6)
Party B confirms that the address on the first page of this contract or the address of Party B's ID card is the address for delivery
of relevant documents and documents. In the case where Party A's relevant documents cannot be directly delivered to Party B (including
but not limited to where Party B is located) (Unknown or rejected), if Party A mails to the address by ems or registered letter,
it shall be deemed to have been delivered. If the address changes, Party B shall notify Party A in writing within three days after
the change, otherwise the delivery of the above address shall be deemed For already delivered.

 

(7)
This contract is made in two copies, each of which is held by both parties A and B, and shall take effect from the date of signature
or seal of both parties.

 

Return
this contract to Party A for safekeeping.

 

(No
text below)

  

    11

     

    

 

Party
A's stamp: Party B (employee) signature:

 

(signature):

 

Contract
signing date: November 1, 2019

 

(The
following is blank)

  

	 	JIANA
    SCIENCE AND TECHNOLOGY CO., LTD. 
	 	 	 
	 	By:	/s/
Company Seal

 

	JIRONG
    WANG
	 	 
	/s/
Jirong Wang	 

Jirong
Wang

 

 

12

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