Document:

Exhibit 10.1

 

Non-Plan
Stock Compensation

Election

and

Terms and Conditions

 

Pursuant to this instrument,
RXi Pharmaceuticals Corporation (the “Company”) is permitting Geert Cauwenbergh, Dr. Med. Sc. (“Executive”)
to make an irrevocable election (the “Election”), within fourteen (14) days following August 31, 2018, to receive,
for the period from September 15, 2018 through December 31, 2018, 50% of his annual base salary and cash bonuses, if any (collectively,
the “Compensation”), in the form of cash or restricted shares of Company common stock, $0.0001 par value (“Common
Stock”). If Executive shall elect to receive the Compensation in the form of restricted Common Stock, such restricted
Common Stock shall be issued to Executive outside of any equity compensation plan of the Company.

 

	1.	Cash/Share Election. 

 

		(a)	[_] Option 1 – (Default) Cash Payment. By checking the box for this Option 1, Executive
is electing to continue to receive the Compensation in cash, less applicable tax withholding and other required deductions (a “Cash
Election”). If no election is made within the permitted 14-day period, the Executive will be deemed to have made a Cash
Election.

 

		(b)	[X] Option 2 – Restricted Common Stock Grant. By checking the box for this Option
2, Executive is electing to receive 50% of the Compensation in the form of a series of grants of unvested, restricted shares of
Common Stock (a “Stock Election”) made on each payroll date on which he would have otherwise received the Compensation
had he made a Cash Election. The number of shares of restricted Common Stock to be granted on each such date shall be determined
by dividing the cash amount that would have been payable on each such date, less applicable tax withholding and other required
deductions, by the closing price of a share of Common Stock on such date. The restricted stock received pursuant to a Stock Election
will vest in full on January 1, 2019.

 

	2.	Securities Law Requirements.

 

		(a)	If the Executive makes a Stock Election and at any time the Compensation
Committee of the Board of Directors (the “Committee”) determines that issuing Common Stock hereunder would violate
applicable securities laws and/or the rules of any stock exchange on which the Common Stock is listed, the Company will not be
required to issue such Common Stock and instead the Executive will be deemed to have made a Cash Election. The Committee may declare
any provision of these Terms and Conditions or action of its own null and void, if it determines the provision or action fails
to comply with the short-swing trading rules. As a condition to issuance of the Common Stock, the Company may require Executive
to make written representations it deems necessary or desirable to comply with applicable securities laws.

 

		(b)	No Person who acquires Common Stock under these Terms and Conditions
may sell the Common Stock, unless they make the offer and sale pursuant to an effective registration statement under the Securities
Act of 1933, as amended (the “Securities Act”), which is current and includes the Common Stock to be sold, or
an exemption from the registration requirements of the Securities Act. For purposes hereof, a “Person” means
any individual, partnership, corporation, limited liability company, association, joint stock company, trust, joint venture, unincorporated
organization and any other entity, whether foreign or domestic, including any governmental entity or any department, agency or
political subdivision thereof.

 

	3.	No Limitation on Rights of the Company. Nothing herein shall
in any way affect the right or power of the Company to make adjustments, reclassifications or changes in its capital or business
structure, or to merge, consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets.

 

	4.	Successors. All obligations of the Company hereunder will
be binding on any successor to the Company, whether the existence of the successor results from a direct or indirect purchase of
all or substantially all of the business of the Company, or a merger, consolidation, or otherwise.

 

 

 

    	 	1	 

     

    

 

	5.	Governing Law. To the extent not preempted by federal law,
these Terms and Conditions will be construed and enforced in accordance with, and governed by, the laws of the State of Delaware,
without giving effect to its conflicts of law principles that would require the application of the law of any other jurisdiction.

 

	6.	Not a Contract of Employment or Service. Nothing herein
shall be deemed to be a contract of employment or service or construed as conferring any legal rights on the Executive to
continue to be employed or remain in service with the Company.

 

	7.	Amendment of the Agreement. These Terms and Conditions may
be amended by a written instrument signed by both parties.

 

	8.	Entire Agreement. These Terms and Conditions constitute
the entire obligation of the parties with respect to the subject matter hereof and supersede any prior written or oral expressions
of intent or understanding with respect to such subject matter.

 

 

	 	RXi Pharmaceuticals Corporation
	 	 
	 	By: /s/ Caitlin Kontulis
	 	 
	 	Name: Caitlin Kontulis
	 	 
	 	Title:  Senior Director of Finance and Secretary

 

 

By signing below and checking Option 1 or Option 2, Executive
acknowledges he has made an irrevocable Election to receive the Compensation in the form specified in the agreement.

 

 

	 	  Geert Cauwenbergh, Dr. Med. Sc. 
	 	 
	 	By: /s/ Geert Cauwenbergh
	 	 
	 	Date:  August 31, 2018

 

 

 

 

 

 

 

    	 	2Exhibit 10.1 

 

Share Purchase Agreement

 

Transferee: Xianning Sanhe Power Equipment
Manufacturing Co., Ltd (hereinafter referred to as “Party A”)

 

Transferor: Sheng Zhou ID No.: 330722197504065911
(hereinafter referred to as “Party B”)

 

Transferor: Heping Zhang ID No.: 42230119600815091X
(hereinafter referred to as “Party C”).

 

Party A is a technology
company engaged in research and development, production and sales of new energy. Party B and Party C incorporated Hubei Jinli
Hydraulic Co., Ltd. in December 2004, which engages in the manufacturing and sales of hydraulic parts, processing and sales of
non-ferrous metal, sales of electronic components, and information technology consulting services regarding hydraulic parts. In
view of the good business complementation of Hubei Jinli Hydraulic Co., Ltd., and based on needs of market expansion and uplisting
work, the parties has reached the following agreement on the purchase of the equity interests (the “shares”) of Hubei
Jinli Hydraulic Co., Ltd.in accordance with the provisions of the civil law and relevant laws of China under the principles of
equality, mutual benefit and consensus:

 

I. Purchase of Shares

 

Whereas Party A agrees
to acquire 93% of the shares held by Party B in Hubei Jinli Hydraulic Co., Ltd., and 7% of the shares held by Party C in Hubei
Jinli Hydraulic Co., Ltd., and the shareholders’ meeting of Hubei Jinli Hydraulic Co., Ltd. fully approved Party A’s acquisition
of 100% of the shares from Party B and Party C. The three parties agree as follows:

 

1.      
Party B agrees to transfer his shares of Hubei Jinli Hydraulic Co., Ltd., which is 93% of the registered capital of the company,
to Party A, and Party A agrees to purchase those shares from him.

 

Party C agrees to transfer
his shares of Hubei Jinli Hydraulic Co., Ltd., which is 7% of the registered capital of the company, to Party A, and Party A agrees
to purchase those shares from him.

 

2.      
The shares Party B and Party C agree to sell and Party A agree to purchase have all collateral entitlement and rights, and no (including
but not limited to) lien, mortgage or any third party’s interest or claims.

 

3.      
When the agreement comes into effect, Party A shall not bear any liability or obligation that Party B and Party
C conceals or omits from Party A.

 

II. Consideration and Payment

 

1.      
The asset value of Hubei Jinli Hydraulic Co., Ltd. has been evaluated by Xianning XinDa Accounting Firm and Hubei Jiuyu Real Estate
Appraisal Co., Ltd., and Hubei Kaicheng Law Firm has conducted due diligence. It is confirmed by the three parties that the total
assets of Hubei Jinli Hydraulic Co., Ltd. is RMB 96.57 million, and offset by the bank debt of RMB 29.93 million the net value
of the assets is RMB 66.64 million (see assessment report and asset and capital verification report for details).

 

2.      
Based on the assessment report and due diligence opinion, the three parties agree the total consideration is RMB One Hundred Fifty
Million (150,000,000).

 

3.      
Payment

 

(1) Party A shall
pay RMB Forty Million (40,000,000) to Party B and Party C within 7 days after the execution of this agreement.

 

    

     

    

 

(2) Party A shall
issue shares of the Nasdaq listed company’s stock (symbol: XTNY), which shall have a value equal to RMB Eighty Million and
Seventy Thousand (80,070,000) to Party B and Party C within 7 days after the execution of this agreement.

 

The price of the share
is based on the average price from January 1, 2018 to June 30, 2018 (180 days) for _____ shares with a total value of RMB 80.07
million.

 

(3) Party A shall
assume the repayment obligations for the bank loan of Hubei Jinli Hydraulic Co., Ltd. (in which, the principal is RMB 29,930,000)
(specific repayment term is stipulated in the bank loan agreement).

 

(4) When this agreement comes
into effect, Party B and Party C shall complete the registration for transfer of stock of Hubei Jinli Hydraulic Co., Ltd.
within one month upon receipt of RMB 40 million.

 

III. Representation by Party B and Party
C 

 

1.      
Party B and Party C are the only owners of the shares transferred under Article I herein.

 

2.      
Party B and Party C have fulfilled their capital contribution obligations for the registered capital as the shareholders.

 

3.      
From the effective date, Party B and Party C shall completely exit from the company’s manufacturing and operation, and no
longer participate in the distribution of the company’s property and profits.

 

IV. Representation by Party A 

 

1.
      Party A shall bear liability limited to the amount of its contribution to the company.

 

2.
      Party A acknowledges and will comply with the revised articles of association.

 

3.
      Party A guarantees payment according to Article II herein.

 

V. Cost Related to the Transfer of Equity

 

The three parties agree
to bear relevant taxes and fees incurred in the equity transfer procedures respectively according to law.

 

VI. Based on Party A’s due diligence
on Hubei Jinli Hydraulic Co., Ltd., Party A is only responsible for the bank loan obligation of the RMB 29.93 million by Party
B and Party C;

 

Party A shall not bear
any other liabilities arising from Party B and Party C’s failure to disclose or concealment from Party A, and Party B and Party
C shall bear all the liabilities arising therefrom.

 

Since effective date
of this agreement, Party A will exercise its rights and perform the obligations as a shareholder accordingly. Party
B and Party C shall assist Party A in exercising shareholder’s rights and performing obligations, including handling related procedures
and documents.

 

VII. Amendment and Termination of this
Agreement

 

This agreement can be
amended by the three parties with consent through negotiation. In the event of breach of this agreement by any party seriously
affecting the economic interests of the other parties or making the performance unnecessary, the other party can amend or terminate
this agreement.

 

    	 	2	 

     

    

 

VIII. Liabilities for Breach of Contract

 

1.      
If any party failed to perform or materially breached any provisions of this agreement, the breaching party must compensate the
non-breaching party for all economic losses. Except as otherwise provided herein, the non-breaching party shall also have the right
to request the termination of this agreement and claim indemnity from the breaching party for all the economic losses suffered
by the non-breaching party.

 

2.      
If Party A failed to make the payment according to Article II herein, Party A shall pay 0.5‰ of
the delayed portion by day for overdue payment.

 

3.      
In case any party failed to perform or fulfill the material obligations under this agreement timely, which has caused the purpose
of this contract to be defeated, the other parties have the right to unilaterally terminate this agreement. All losses caused by
the breaching party shall be borne by the breaching party.

 

4.      
Party A shall have the right to recover from Party B and Party C if Party B and Party C concealed the external debts of Hubei Jinli
Hydraulic Co., Ltd. and Party A actually undertakes such debts.

 

IX. Confidentiality

 

1.     Without
the written consent from the other parties, no party may disclose the business secrets or relevant information known in the performance
of the agreement to a third party, nor the contents of this agreement and the relevant file materials to any third party. The contents
that must be disclosed in accordance with laws and regulations may be excluded.

 

2.      The
confidentiality clause is independent. This provision stays in effect, regardless of whether this agreement is signed, altered,
receded or terminated.

 

X. Dispute Resolution

 

The three parties shall
make friendly negotiations to resolve all disputes arising from or in connection with this agreement. If no agreement was reached,
any party may file a suit with the people’s court where the property object is located.

 

XI. Entry Into Effect and Miscellaneous

 

1.      This
Agreement shall come into force on the date of signing and sealing by Party A, Party B and Party C.

 

2.      As
for unsettled affairs in implementation of the agreement, the three parties should resolve them in a friendly, sincere and matter-of-fact attitude.
If any supplementary agreement was signed after negation by the parties, the supplementary agreement shall have the same effect
as this agreement.

 

    	 	3	 

     

    

 

3.      The
settlement, validity, interpretation, termination and dispute resolution of this agreement shall be governed by the laws of the
People’s Republic of China.

 

4.      In
view of the uplisting needs of Party A, Party B and C must cooperate with Party A if it needs to sign an agreement which is not
completely consistent with the contents of this agreement. However, Party A hereby undertakes that the rights and obligations
of the parties herein shall be governed by this agreement.

 

5.      In
the event that the equity transfer agreement for share transfer registration with Industrial and Commercial Bureau is inconsistent
with the provisions of this agreement, this agreement shall prevail.

 

6.       This agreement is made
in triplicate, and each party shall hold one copy.

 

Party A: Xianning Sanhe Power Equipment
Manufacturing Co., Ltd. [Company Seal Affixed Here]

 

Legal Representative: /s/ Zhou Deng Hua

 

	
        Party B: /s/ Sheng Zhou

         
	Party
    C: /s/ Heping Zhang 
	
        June 21, 2018
	
        June 21, 2018

 

 

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