Document:

Exhibit 10.1

 

BAT
GROUP, INC.

Room
104, No. 33 Section D,

No.
6 Middle Xierqi Road,

Haidian
District, Beijing, China 100085

+86(010)59441080

 

October
17, 2019

 

BEIJING___

BEIJING__CHINA____

 

Re:
Director Offer Letter

 

Dear
Ms. Renmei Ouyang

 

Bat
Group, Inc., a Delaware corporation (the “Company”), is pleased to offer you a position as a member of its
Board of Directors (the “Board”). We believe your background and experience will be a significant asset to
the Company and we look forward to your participation on the Board. Should you choose to accept this position as a member of the
Board, this letter agreement (the “Agreement”) shall constitute an agreement between you and the Company and
contains all the terms and conditions relating to the services you agree to provide to the Company.

 

1. 
Term. This Agreement is effective upon your acceptance and signature below. Your term as director shall continue
subject to the provisions in Section 8 below or until your successor is duly elected and qualified. The position shall be up for
re-election each year at the annual shareholder’s meeting and upon re-election, the terms and provisions of this Agreement
shall remain in full force and effect.

 

2.  
Services. You shall render services as a member of the Board and the Board’s committees set forth on Schedule
A attached hereto (hereinafter your “Duties”). During the term of this Agreement, you shall attend and participate
in such number of meetings of the Board and of the committee(s) of which you are a member as regularly or specially called. You
may attend and participate at each such meeting via teleconference, video conference or in person. You shall consult with the other
members of the Board and committee(s) as necessary via telephone, electronic mail or other forms of correspondence.

 

3.  
Compensation. As compensation for your services to the Company, you will receive $10,000 in cash per year paid
quarterly for serving on the Board starting from the date of this Agreement, which shall be paid to you quarterly in arrears as
determined by the Company. You shall be reimbursed for reasonable and approved expenses incurred by you in connection with the
performance of your Duties.

 

4.  No
Assignment. Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by
you without the prior written consent of the Company.

 

5. 
Confidential Information; Non-Disclosure. In consideration of your access to certain Confidential Information
(as defined below) of the Company, in connection with your business relationship with the Company, you hereby represent and agree
as follows:

 

a.
Definition. For purposes of this Agreement the term “Confidential Information” means:

 

i.
Any information which the Company possesses that has been created, discovered or developed by or for the Company, and which
has or could have commercial value or utility in the business in which the Company is engaged; or

 

ii. Any information which is related to the business of the Company and is generally not known by non-Company personnel.

 

iii. Confidential
Information includes, without limitation, trade secrets and any information concerning services provided by the Company,
concepts, ideas, improvements, techniques, methods, research, data, know-how, software, formats, marketing plans,
and analyses, business plans and analyses, strategies, forecasts, customer and supplier identities, characteristics and
agreements.

 

b.
Exclusions. Notwithstanding the foregoing, the term Confidential Information shall not include:

 

i. Any information which becomes generally available to the public other than as a result of a breach of the confidentiality
portions of this Agreement, or any other agreement requiring confidentiality between the Company and you;

 

ii. Information received from a third party in rightful possession of such information who is not restricted from disclosing such
information; and

 

iii.
Information known by you prior to receipt of such information from the Company, which prior knowledge can be documented.

 

     

     

    

 

c.
Documents. You agree that, without the express written consent of the Company, you will not remove from the Company's
premises, any notes, formulas, programs, data, records, machines or any other documents or items which in any manner contain or
constitute Confidential Information, nor will you make reproductions or copies of same. You shall promptly return any such documents
or items, along with any reproductions or copies, to the Company upon the earliest of Company's demand, termination of this Agreement,
or your termination or Resignation, as defined in Section 8 herein.

 

d.
Confidentiality. You agree that you will hold in trust and confidence all Confidential Information and will not disclose
to others, directly or indirectly, any Confidential Information or anything relating to such information without the prior written
consent of the Company, except as maybe necessary in the course of your business relationship with the Company. You further agree
that you will not use any Confidential Information without the prior written consent of the Company, except as may be necessary
in the course of your business relationship with the Company, and that the provisions of this paragraph (d) shall survive termination
of this Agreement.

 

e.
Ownership. You agree that Company shall own all right, title and interest (including patent rights, copyrights, trade
secret rights, mask work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout
the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs,
know-how, ideas and information made or conceived or reduced to practice, in whole or in part, by you during the term of this
Agreement and that arise out of your Duties (collectively, “Inventions”) and you will promptly disclose and
provide all Inventions to the Company. You agree to assist the Company, at its expense, to further evidence, record and perfect
such assignments, and to perfect, obtain, maintain, enforce, and defend any rights assigned.

 

6. Non-Competition. You agree and undertake that you will not, so long as you are a member of the Board and for a period
of 12 months following termination of this Agreement for whatever reason, directly or indirectly as owner, partner, joint venture,
stockholder, employee, broker, agent principal, corporate officer, director, licensor or in any other capacity whatsoever, engage
in, become financially interested in, be employed by, or have any connection with any business or venture that is engaged in any
activities involving services or products which compete, directly or indirectly, with the services or products provided or proposed
to be provided by the Company or its subsidiaries or affiliates; provided, however, that you may own
securities of any public corporation which is engaged in such business but in an amount not to exceed at any one time, one percent
of any class of stock or securities of such company, so long as you has no active role in the publicly owned company as director,
employee, consultant or otherwise.

 

7. Non-Solicitation. So long as you are a member of the Board and for a period of 12 months thereafter, you shall not
directly or indirectly solicit for employment any individual who was an employee of the Company during your tenure.

 

8. Termination and Resignation. Your membership on the Board may be terminated for any or no reason by a vote of the stockholders
holding at least a majority of the shares of the Company’s issued and outstanding shares entitled to vote. Your membership
on the Board or on a Board committee may be terminated for any or no reason by a majority of the Board at any time, if you have
been declared incompetent by an order of a court of competent jurisdiction or convicted of a felony. You may also terminate your
membership on the Board or on a committee for any or no reason by delivering your written notice of resignation to the Company
(“Resignation”), and such Resignation shall be effective upon the time specified therein or, if no time is
specified, upon receipt of the notice of resignation by the Company. Upon the effective date of the termination or Resignation,
your right to compensation hereunder will terminate subject to the Company's obligations to pay you any compensation (including
the vested portion of the Shares) that you have already earned and to reimburse you for approved expenses already incurred in
connection with your performance of your Duties as of the effective date of such termination or Resignation. Any Shares that have
not vested as of the effective date of such termination or Resignation shall be forfeited and cancelled.

 

9. Governing Law. All questions with respect to the construction and/or enforcement of this Agreement, and the rights
and obligations of the parties hereunder, shall be determined in accordance with the law of the State of New York applicable to
agreements made and to be performed entirely in the State of New York.

 

10. Entire Agreement; Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to
the subject matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter
hereof. Any term of this Agreement may be amended and observance of any term of this Agreement may be waived only with the written
consent of the parties hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver
of any subsequent breach or failure of the same term or condition or waiver of any other term or condition of this Agreement.
The failure of any party at any time to require performance by any other party of any provision of this Agreement shall not affect
the right of any such party to require future performance of such provision or any other provision of this Agreement. This Agreement
may be executed in separate counterparts each of which will be an original and all of which taken together will constitute one
and the same agreement, and may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to
be the same, and equally enforceable, as an original of such signature.

 

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

 

    2

     

    

 

12. Not an Employment Agreement. This Agreement is not an employment agreement, and shall not be construed or interpreted
to create any right for you to continue employment with the Company.

 

13. Acknowledgement. You accept this Agreement subject to all the terms and provisions of this Agreement. You agree to
accept as binding, conclusive, and final all decisions or interpretations of the Board of Directors of the Company of any questions
arising under this Agreement.

  

The
Agreement has been executed and delivered by the undersigned and is made effective as of the date set first set forth above.

  

	 	Sincerely,
	 	 
	 	BAT
    GROUP, INC.
	 	 	 
	 	By:	/s/
Jiaxi Gao
	 	Name:	Jiaxi
    Gao
	 	Title:	Chief
    Executive Officer

 

AGREED
AND ACCEPTED:

  

/s/
Renmei Ouyang

 

Renmei
Ouyan

 

 

3Exhibit 10.2

 

EMPLOYMENT
AGREEMENT

 

This EMPLOYMENT AGREEMENT
(the “Agreement”), is entered into as of October 17, 2019 (the “Effective Date”), by and
between Bat Group, Inc., incorporated under the laws of the State of Delaware (the “Company”), and Renmei Ouyang,
an individual (the “Executive”). Except with respect to the direct employment of the Executive by the Company,
the term “Company” as used herein with respect to all obligations of the Executive hereunder shall be deemed to include
the Company and all of its subsidiaries and affiliated entities (collectively, the “Group”).

 

 RECITALS

 

 A. The Company desires to employ the Executive as its Chief Operating Officer and to assure itself of the services of the Executive during the term of Employment (as defined below).

 

 B. The Executive desires to be employed by the Company as its Chief Operating Officer during the term of Employment and upon the terms and conditions of this Agreement.

 

 AGREEMENT

 

The parties
hereto agree as follows:

 

1. POSITION

 

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

 

2. TERM

 

Subject to the terms and
conditions of this Agreement, the initial term of the Employment shall be 2 years commencing on the Effective Date, unless terminated
earlier pursuant to the terms of this Agreement. The Employment will be renewed automatically for additional one-year terms if
neither the Company nor the Executive provides a notice of termination of the Employment to the other party or otherwise proposes
to renegotiate the terms of the Employment with the other party within three months prior to the expiration of the applicable term.

 

3. DUTIES AND RESPONSIBILITIES

 

		a)	The Executive’s duties at the Company will include all jobs assigned by the Company’s
Board of the Directors (the “Board”).

 

		b)	The Executive shall devote all of his working time, attention and skills to the performance of
his duties at the Company and shall faithfully and diligently serve the Company in accordance with this Agreement, the Certificate
of Incorporation and Bylaws of the Company, as amended and restated from time to time (the

 

		c)	“Charter Documents”), and the guidelines, policies and procedures of the Company
approved from time to time by the Board.

 

		d)	The Executive shall use his best efforts to perform his duties hereunder. The Executive shall not,
without the prior written consent of the Board, become an employee of any entity other than the Company and any subsidiary or affiliate
of the Company, and shall not be concerned or interested in any business or entity that engages in the same business in which the
Company engages (any such business or entity, a

 

		e)	“Competitor”), provided that nothing in this clause shall preclude the Executive
from holding any shares or other securities of any Competitor that is listed on any securities exchange or recognized securities
market anywhere if such shares or securities represent less than 5% of the competitors outstanding shares and securities. The Executive
shall notify the Company in writing of his interest in such shares or securities in a timely manner and with such details and particulars
as the Company may reasonably require

 

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4. NO BREACH OF CONTRACT

 

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

 

5. Intentionally
Omitted

 

6. COMPENSATION AND BENEFITS

 

		a)	Base Salary. The
                                         Executive’s initial base salary shall be $60,000 per year, paid in periodic installments
                                         in accordance with the Company’s regular payroll practices, and such compensation
                                         is subject to annual review and adjustment by the Board.

 

		b)	Bonus. The Executive shall be eligible for Bonuses determined by the Board.

 

		c)	Equity Incentives. To the extent the Company adopts and maintains a share incentive plan,
the Executive will be eligible to participate in such plan pursuant to the terms thereof as determined by the Board.

 

		d)	Benefits. The Executive is eligible for participation in any standard employee benefit plan
of the Company that currently exists or may be adopted by the Company in the future, including, but not limited to, any retirement
plan, life insurance plan, health insurance plan and travel/holiday plan.

 

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

 

7. TERMINATION OF THE AGREEMENT

 

		(a)	By the Company.

 

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

 

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

 

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

 

		(3)	the Executive has engaged in actions amounting to willful misconduct or failed to perform his duties
hereunder and such failure continues after the Executive is afforded a reasonable opportunity to cure such failure; or

 

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		(4)	the Executive violates Section 8 or 10 of this Agreement.

 

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

 

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

 

		(1)	the Executive has died, or

 

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

 

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

 

		(iii)	Without Cause. The Company may terminate the Employment without cause, at any time, upon
one month prior written notice. Upon termination without cause, the Company shall provide the following severance payments and
benefits to the Executive: (1) a lump sum cash payment equal to1 months of the Executive’s base salary as of the date of
such termination; (2) a lump sum cash payment equal to a pro-rated amount of his target annual bonus for the year immediately preceding
the termination, if any; (3) payment of premiums for continued health benefits under the Company’s health plans for 12 months
fo1lowing the termination, if any; and (4) immediate vesting of 100% of the then-unvested portion of any outstanding equity awards
held by the Executive.

 

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

 

		(iv)	Change of Control Transaction. If the Company or its successor terminates the Employment
upon a merger, consolidation, or transfer or sale of all or substantially all of the assets of the Company with or to any other
individual(s) or entity (the “Change of Control Transaction”), the Executive shall be entitled to the following
severance payments and benefits upon such termination: (1) a lump sum cash payment equal to 1 months of the Executive’s base
salary at a rate equal to the greater of his/her annual salary in effect immediate1y prior to the termination, or his/her then
current annua1 salary as of the date of such termination; (2) a lump sum cash payment equal to a pro-rated amount of his/her target
annual bonus for the year immediately preceding the termination; (3) payment of premiums for continued health benefits under the
Company’s health plans for 12 months fo1lowing the termination; and (4) immediate vesting of 100% of the then unvested portion
of any outstanding equity awards held by the Executive.

 

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		(b)	By the Executive. The Executive may terminate the Employment at any time with a one-month
prior written notice to the Company, if (1) there is a material reduction in the Executive’s authority, duties and responsibilities,
or (2) there is a material reduction in the Executive’s annual salary. Upon the Executive’s termination of the Employment
due to either of the above reasons, the Company shall provide compensation to the Executive equivalent to 1 months of the Executive’s
base salary that he is entitled to immediately prior to such termination. In addition, the Executive may resign prior to the expiration
of the Agreement if such resignation is approved by the Board or an alternative arrangement with respect to the Employment is agreed
to by the Board.

 

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

 

8. CONFIDENTIALITY AND NON-DISCLOSURE

 

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

 

(b) Company
Property. The Executive understands that all documents (including computer records, facsimile and e-mail) and materials created,
received or transmitted in connection with his work or using the facilities of the Company are property of the Company and subject
to inspection by the Company at any time. Upon termination of the Executive’s employment with the Company (or at any other
time when requested by the Company), the Executive will promptly deliver to the Company all documents and materials of any nature
pertaining to his work with the Company and will provide written certification of his compliance with this Agreement. Under no
circumstances will the Executive have, following his termination, in his possession any property of the Company, or any documents
or materials or copies thereof containing any Confidential Information.

 

(c) Former
Employer Information. The Executive agrees that he has not and will not, during the term of his employment, (i) improperly
use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive
has an agreement or duty to keep in confidence information acquired by Executive, if any, or (ii) bring into the premises of the
Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented
to in writing by such former employer, person or entity. The Executive will indemnify the Company and hold it harmless from and
against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of suit, arising out
of or in connection with any violation of the foregoing.

 

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

 

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

 

9. CONFLICTING
EMPLOYMENT.

 

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

 

10. NON-COMPETITION AND NON-SOLICITATION

 

In consideration
of the salary paid to the Executive by the Company and subject to applicable law, the Executive agrees that during the term of
the Employment and for a period of one (1) year following the termination of the Employment for whatever reason:

 

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

 

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

 

(c) The
Executive will not seek, directly or indirectly, by the offer of alternative employment or other inducement whatsoever, to solicit
the services of any employee of the Company employed as at or after the date of such termination, or in the year preceding such
termination.

 

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

 

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

 

11. WITHHOLDING TAXES

 

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

 

12. ASSIGNMENT

 

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

 

    5 

     

    

 

13. SEVERABILITY

 

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

 

14. ENTIRE AGREEMENT

 

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

 

15. GOVERNING LAW; JURISDICTION

 

This Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware and each of the parties irrevocably consents
to the jurisdiction and venue of the federal and state courts located in Delaware.

 

16. AMENDMENT

 

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

 

17. WAIVER

 

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

 

18. NOTICES

 

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

 

19. COUNTERPARTS

 

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

 

Photographic
copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

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20. NO INTERPRETATION AGAINST
DRAFTER

 

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

 

[Remainder of
this page has been intentionally left blank.]

 

    7 

     

    

 

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

 

	 	Bat Group, Inc.
	 	 	 
	 	By:	/s/ Jiaxi Gao
	 	Name:	Jiaxi Gao
	 	Title:	Chief Executive Officer
	  	 	 
	 	Executive
	 	 
	 	Signature:	/s/ Renmei Ouyang
	 	Name:	Renmei Ouyang

 

 

8

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