Document:

Exhibit 10.1

 

SEPARATION AGREEMENT AND GENERAL RELEASE

 

1.This
Separation Agreement and General Release (“Agreement”) is between Yi-Jong Shy (“Employee”) and NowNews
Digital Media Technology Co. Ltd, a Nevada Corporation (“Company”) to resolve any and all outstanding issues between
the parties and to set forth all of the obligations between the parties.

 

2.For $10 and other good and valuable
consideration the receipt of which is acknowledged, the Employee and the Company make the agreements set forth in this Agreement.
Employee’s employment with the Company terminated effective March 25, 2016 (“Release Date”), and as of such time
Employee shall no longer serve as the Company's Chief Investor Relations Officer or in any other capacity with Company. Employee
acknowledges that he has been paid his regular rate of pay in equal biweekly installments, less applicable deductions through the
Release Date. In addition to the foregoing, as of Release Date, Employee acknowledges that he shall no longer serve in any
capacity or capacities with respect to any affiliate of the Company to which he may have been elected or appointed as of the date
hereof. For purposes of this agreement, the term “affiliate” shall mean any entity that is controlled by the Company.

 

3.Employee agrees that he is not entitled
to and will not seek any further consideration, including but not limited to, any wages, vacation pay, sick pay, disability pay,
bonus, compensation, profit sharing contributions, restricted stock, stock options, other equity-related instruments, payment or
benefit from Releasees (as defined in Section 4) other than that to which he is entitled pursuant to the Employment Agreement entered
by and between the Company and the Employee dated November 14, 2014.

 

4.In consideration of the agreements
made herein and benefits to Employee provided herein, Employee agrees to and hereby does release and discharge the Company, its
parents, subsidiaries, affiliates and their successors or assigns, directors, officers, consultants, attorneys, representatives
and employees (collectively “Releasees”) from any and all claims, causes of action, arbitrations and demands, whether
known or unknown, which he has or ever has had, which are based on acts or omissions occurring up to and including the date this
Agreement is fully executed, except as to the enforcement of this Agreement and any rights which cannot be waived as a matter of
law. Employee further releases the Company and its parents, subsidiaries and affiliated entities from any and all compensation
owed to him, including vacation pay and any attorneys’ fees, damages and costs Employee could recover under any statute or
common law theory. Included within this release, without limiting its scope, are claims arising out of Employee’s employment
or the termination of his employment based on Title VII of the Civil Rights Acts of 1964 as amended, the Civil Rights Act of 1870,
the Americans with Disabilities Act of 1990 as amended, the Americans with Disabilities Act Amendments Act of 2008, the Age Discrimination
in Employment Act, as amended, the Older Workers Benefit Protection Act, the Fair Labor Standards Act of 1938 as amended by the
Equal Pay Act of 1963, the Family and Medical Leave Act, the Employee Retirement Income Security Act of 1974, the Civil Rights
Act of 1991, the Genetic Information Nondiscrimination Act of 2008, the Lilly Ledbetter Fair Pay Act of 2009, the New York State
Human Rights Law, the New York City Human Rights Law, the New York Labor Law, the New York Wage Theft Prevention Act, the U.S.
Patriot Act, the Sarbanes-Oxley Act of 2002, the Dodd–Frank Wall Street Reform and Consumer Protection Act, and any other
federal, state or local civil rights, disability, discrimination, retaliation or labor law, or any theory of contract, criminal,
arbitral or tort law.

 

    	 	- 1 -	 

     

    

 

 

5.Rights Not Waived. Regardless of
any term stated in any other section of this Agreement:

 

a.This Agreement
does not waive Employee’s rights, if any, to receive ERISA-covered benefits (e.g., pension or medical benefits) that are
vested pursuant to a formally-adopted and properly-authorized written benefit plan.

 

b.This Agreement
does not waive unemployment compensation benefits, workers’ compensation benefits or any other rights that may not lawfully
be released by a private agreement.

 

c.Nothing in this
Agreement prevents Employee from filing a charge or complaint with, or from participating in an investigation or proceeding conducted
by, the Equal Employment Opportunity Commission (“EEOC”), United States Securities and Exchange Commission (the “SEC”),
National Labor Relations Board (the “NLRB”), United States Department of Labor (the “DOL”), or any other
governmental agency; but as to all of the claims that Employee has released as provided in this Agreement, Employee is waiving
your right to receive any individual relief in any such investigation or proceeding.

 

d.Nothing in this
Agreement prevents Employee from (a) providing truthful testimony in any legal proceeding to which he is a party, (b) providing
truthful testimony or information if he is legally compelled or required to do so, (c) providing truthful information in any charge
or complaint with the EEOC, SEC, NLRB, DOL or other governmental agency, or (d) providing truthful information in the course of
participating in an investigation or proceeding conducted by the EEOC, SEC, NLRB, DOL, or any other governmental agency.

 

e.Nothing in this
Agreement prevents Employee from taking any action to challenge the knowing and voluntary nature of this Agreement under the Older
Workers Benefit Protection Act (OWBPA). This includes, without limitation, that this Agreement does not prevent Employee from filing
or pursuing a charge of discrimination, lawsuit or arbitration to the extent it is brought under the federal Age Discrimination
in Employment Act of 1967 (ADEA) and challenges the knowing and voluntary nature of this Agreement under the OWBPA. Further, nothing
in this Agreement shall cause Employee to be liable for damages, attorneys’ fees, costs or disbursements in connection with
any such charge of discrimination, lawsuit or arbitration to the extent it is so brought. However, if this Agreement is found to
be knowing and voluntary under the OWBPA, Employee’s release and waiver of claims under the ADEA, as provided in this Agreement,
shall be fully effective.

 

    	 	- 2 -	 

     

    

 

 

6. As of the date hereof, Employee
agrees to abide by Sections 6; Trade Secrets and Proprietary Information; 7, Covenant Not to Solicit or Compete; 8 Inventions and
Discoveries and 9 Injunctive Relief of the Employment Agreement into which he entered with the Company on November 14, 2014 (the
“Employment Agreement”), in addition to any other sections of the Employment Agreement which expressly survive the
termination of Employee’s employment with the Company, subject to Section 5 above (Rights Not Waived).

 

7. If any claim is asserted by or against
the Company as to which the Employee has relevant knowledge, the Employee will reasonably cooperate with the Company in the prosecution
or defense of that claim, including by providing truthful information and testimony as reasonably requested by the Company, subject
to Section 5 above (Rights Not Waived)

 

8. This Agreement is not an admission
by the Company of any liability. The Company specifically denies and disclaims any discrimination or injury to any person.

 

9.
The parties agree that this Agreement may not be introduced in any proceeding, except to establish the settlement and release,
the breach of this Agreement, or as may be required by law or judicial directive.

 

10.
Employee agrees not to directly or indirectly take, support, encourage or participate in any activity or attempted activity which
in any way would disparage the Company, its parents, subsidiaries and affiliated entities subject to Section 5 above (Rights Not
Waived). Employee agrees not to write or speak about the Company, its parents, subsidiaries and affiliated entities in negative
terms subject to Section 5 above (Rights Not Waived).

 

11.
Employee agrees that Employee will not disclose the existence or terms of this Agreement except to his immediate family, tax
advisor and attorney, federal or state taxing authorities, or as compelled by court process and subject to Section 5 above (Rights
Not Waived).

 

12.This
Agreement contains the complete understanding of the parties. No other promises or agreements shall be binding or shall modify
this Agreement unless reduced to writing and signed by the parties hereto or counsel for the parties.

 

13.This Agreement shall be governed
by New York law without regard to conflicts of laws principles, and the parties hereto agree to submit to the exclusive jurisdiction
of the state and federal courts of New York, New York. The parties to this Agreement consent to personal jurisdiction in New York
in any action commenced to enforce its terms.

 

14.AS A SPECIFICALLY BARGAINED FOR
INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL),
EACH PARTY HERETO EXPRESSLY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING
RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY.

 

    	 	- 3 -	 

     

    

 

 

15.Employee shall not institute nor
be represented as a party in any lawsuit, claim, complaint or other proceeding against or involving the Company, its parents, subsidiaries
or affiliated entities based on Employee’s employment with the Company or upon any act or omission occurring up to and including
the date this Agreement is fully executed, whether as an individual or class action, under any federal, state or local laws, rules,
regulations or any other basis. Further, Employee shall not seek or accept any award or settlement from any such source or proceeding
(not including unemployment insurance proceedings). In the event that Employee institutes, is a knowing participant, or is a willing
member of a class that institutes any such action, Employee’s claims shall be dismissed or class membership terminated with
prejudice immediately upon presentation of this Agreement. This Agreement does not affect Employee’s right to file a charge
with the EEOC, SEC, NLRB, DOL or other similar Federal, state or local agency, or to participate in any investigation conducted
by the EEOC, SEC, NLRB, DOL or other similar Federal, state or local agency, but Employee acknowledges that he is not entitled
to any other monies other than those payments described in this Agreement except where such a waiver of individual relief is prohibited.

 

16.
Employee warrants that he is fully competent to enter into this Agreement and Employee acknowledges that he has been afforded
the opportunity to review this Agreement with his attorney for at least twenty-one (21) days, that Employee is advised and has
been advised to consult with an attorney of his choice before signing this Agreement, that Employee has consulted with his attorney
prior to executing this Agreement, that Employee has read and understands this Agreement and that Employee has signed this Agreement
freely and voluntarily. Further, Employee understands that he has the opportunity to revoke such Agreement within seven (7) days
of signing it. Employee understands that if he does revoke this Agreement, Employee must notify the Company in writing within
seven (7) days of signing this Agreement and must return any amount he has received hereunder in such event.

 

17.Employee acknowledges that he has
had the opportunity to conduct an investigation into the facts and evidence relevant to his decision to sign this Agreement. Employee
acknowledges that, in deciding to enter into this Agreement, he has not relied on any promise, representation, or other information
not contained in this Agreement, and also has not relied on any expectation that the Company has disclosed all material facts to
him. By entering into this Agreement, he is assuming all risks that he may be mistaken as to the true facts, that he may have been
led to an incorrect understanding of the true facts, and/or that facts material to his decision to sign this Agreement may have
been withheld from him. He will have no claim to rescind this Agreement on the basis of any alleged mistake, misrepresentation,
or failure to disclose any fact.

 

    	 	- 4 -	 

     

    

 

 

PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES
A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. To signify the parties’ agreement to the terms of this Agreement, the parties
have executed this Agreement on the date set forth below their signatures which appear below.

 

	YI-JONG SHY	NOWNEWS DIGITAL MEDIA CO LTD
	 	 
	/s/
Yi-Jong Shy	By: /s/
Alan Chan
	 	Name:    Alan Chan
	 	Title:       Chairman of the Board

 

 

    	 	- 5 -Exhibit 10.2

 

EMPLOYMENT
AGREEMENT

 

THIS AGREEMENT is dated
as of March 25, 2016 by and between NowNews Digital Media Technology Co., Ltd., a Nevada corporation with its principal office
at 4F, No. 550, Riuguang Road, Neihu District, Taipei City 114, Taiwan (the “Company”), and Shuo-Wei Shih (“Executive”).

 

W I T N E S S E T H:

 

WHEREAS, the Company is desirous of
engaging Shuo-Wei Shih as its Chief Executive Officer and he is agreeable to being so appointed on the terms and conditions hereinafter
set forth.

 

NOW, THEREFORE, in
consideration of the mutual promises set forth in this Agreement, the parties agree as follows:

 

1.     
Employment and Duties.

 

(a)   
Subject to the terms and conditions hereinafter set forth, the Company hereby employs Shuo-Wei Shih as its Chief Executive
Officer, and he shall have the duties and responsibilities associated with a Chief Executive officer of a public corporation. During
the Term, as hereinafter defined, Executive shall report to the Company’s board of directors. Executive shall also perform
such other duties and responsibilities as may be determined by the Company’s board of directors as long as such duties and
responsibilities are consistent with those of the Company’s Chief Executive Officer.

 

(b)  
Executive shall also serve in such executive capacity or capacities with respect to any affiliate of the Company to which
he may be elected or appointed, provided that such duties are consistent with those of the Company’s Chief Executive Officer.
During the Term, Executive shall receive no additional compensation for services rendered pursuant to this Section 1(b). For purposes
of this Agreement, the term “affiliate” shall mean an entity that is controlled by the Company.

 

(c)   
Unless terminated earlier as provided in Section 5 of this Agreement, this Agreement shall have an initial term (the “Initial
Term”) commencing as of the date of this Agreement and expiring on December 31, 2016 and continuing on a year-to-year basis
thereafter unless terminated by either party on not less than thirty (30) days notice prior to the expiration of the Initial Term
or any one-year extension. The Initial Term and the one-year extensions are collectively referred to as the “Term.”

 

 

2.     
Performance. Executive hereby accepts the employment contemplated by this Agreement. During the Term, he shall devote
substantially all of his business time to the performance of his duties under this Agreement, and shall perform such duties diligently,
in good faith and in a manner consistent with the best interests of the Company.

 

3.     
Compensation and Other Benefits.

 

(a)   
For his services to the Company during the Term, the Company shall pay Executive an annual salary (“Salary”)
at the rate of $6,000. All Salary payments shall be payable in such installments as the Company regularly pays its employees in
accordance with normal payroll practices.

 

(b)  
In the event that the Company reports a net income of $500,000 or more for the fiscal year ended December 31, 2016, Executive
shall be entitled to receive a stock option grant to purchase up to 15,000 shares of common stock of the Company, which shall vest
which option shall vest 100% immediately upon the Board’s confirmation that the Performance Target is met, provided that
Executive remains employed by the Company as of December 31, 2016.

 

    	 

     

    

 

 

(c)   
During the Term, Executive shall be eligible for such bonuses, payments and increases in Salary as shall be determined by
the Compensation Committee in its sole discretion.

 

4.     
Reimbursement of Expenses. The Company shall reimburse Executive, upon presentation of proper expense statements,
for all authorized, ordinary and necessary out-of-pocket expenses reasonably incurred by Executive during the Term in connection
with the performance of his services pursuant to this Agreement hereunder in accordance with the Company’s expense reimbursement
policy.

 

5.     
Termination of Employment.

 

(a)   
This Agreement and Executive’s employment hereunder shall terminate immediately upon his death.

 

(b)  
This Agreement and Executive’s employment pursuant to this Agreement, may be terminated by him or the Company on not
less than thirty (30) days’ written notice in the event of Executive’s Disability. The term “Disability”
shall mean any illness, disability or incapacity of Executive which prevents him from substantially performing his regular duties
for a period of three (3) consecutive months or four (4) months, even though not consecutive, in any twelve (12) month period.
However, if Executive is covered by long-term disability insurance, the Company may not terminate this Agreement pursuant to this
Section 5(b) unless he is eligible for disability payments under his long-term disability insurance.

 

(c)   
The Company may terminate this Agreement and Executive’s employment pursuant to this Agreement for cause with no notice.
The term “cause” shall mean:

 

(i)                
Repeated failure to perform material instructions from the Company’s board of directors, provided that such instructions
are reasonable and consistent with his duties as set forth in Section 1 of this Agreement or any other failure or refusal by Executive
to perform his duties required by said Section 1; provided, however, that Executive shall have received notice from the board of
directors specifying the nature of such failure in reasonable detail and he shall have failed to cure the failure within ten (10)
business days after receipt of such notice:

 

(ii)              
a breach of Section 6, 7 or 8 of this Agreement;

 

(iii)            
a breach of trust whereby Executive obtains personal gain or benefit at the expense of or to the detriment of the Company;

 

(iv)            
 his use of illegal substances;

 

(v)              
 his abuse of alcohol continuing after written notice from the board of directors or ;

 

(vi)            
any fraudulent or dishonest conduct by Executive or any other conduct by him, which damages the Company or any of its affiliates
or their property, business or reputation;

 

(vii)          
a conviction of or plea of nolo contendere by Executive of (A) any felony or (B) any other crime involving fraud, theft,
embezzlement or use or possession of illegal substances; or

 

(viii)        
the admission by Executive of any matters set forth in Section 5(c)(vii) of this Agreement.

 

 

    	 	- 2 -	 

     

    

 

 

(ix)            
failure to ensure that the Company’s filings with the Securities and Exchange Commission are on time;

 

(x)              
failure to ensure the accuracy of Company’s filings with the Securities and Exchange Commission.

 

(d)  
Executive’s resignation prior to the expiration of the Term, other than for Good Reason shall be treated in the
same manner as a termination for cause. The term “Good Reason” shall mean:

 

		(i)	Any material breach by the Company of its obligations under this Agreement which are not cured within ten (10) business days
after notice from Executive which sets forth in reasonable detail the nature of the breach.

 

		(ii)	Any change in Executive’s duties such that Executive is no longer the Company’s Chief Executive Officer, unless
such change was made with his consent.

 

		(iii)	Any action on the part of the Company which impairs Executive’s
ability to exercise his duties as the Company’s Chief Executive Officer.

 

6.     
Trade Secrets and Proprietary Information. Executive recognizes and acknowledges that the Company, through the expenditure
of considerable time and money, has developed and will continue to develop in the future information concerning customers, clients,
marketing, products, services, business, research and development activities and operational methods of the Company and its customers
or clients, contracts, financial or other data, technical data or any other confidential or proprietary information possessed,
owned or used by the Company, the disclosure of which could or does have a material adverse effect on the Company, its business,
any business it proposes to engage in, its operations, financial condition or prospects and that the same are confidential and
proprietary and considered “confidential information” of the Company for the purposes of this Agreement. In consideration
of his employment and engagement as Chief Executive Officer, Executive agrees that he will not, during or after the Term, without
the consent of the Company’s board of directors, make any disclosure of confidential information now or hereafter
possessed by the Company, to any person, partnership, corporation or entity either during or after the Term here of, except that
nothing in this Agreement shall be construed to prohibit him from using or disclosing such information (a) if such disclosure is
necessary in the normal course of the Company’s business in accordance with Company policies or instructions or authorization
from the board of directors or executive committee, (b) such information shall become public knowledge other than by or as a result
of disclosure by a person not having a right to make such disclosure, (c) complying with legal process; provided, that in the event
he is required to make disclosure pursuant to legal process, he shall give the Company prompt notice thereof and the opportunity
to object to the disclosure, or (d) subsequent to the Term, if such information shall have either (i) been developed by his independent
of any of the Company’s confidential or proprietary information or (ii) been disclosed to him by a person not subject to
a confidentiality agreement with or other obligation of confidentiality to the Company. For the purposes of Sections 6, 7 and 8
of this Agreement, the term “Company” shall include the Company, its parent, its subsidiaries and its affiliates.

 

7.     
Covenant Not To Solicit or Compete.

 

(a)   
During the period from the date of this Agreement until one (1) year following the date on which Executive’s employment
is terminated, he will not, directly or indirectly:

 

    	 	- 3 -	 

     

    

 

 

(i)               Persuade or attempt to persuade any person or entity which is or was a customer, client or supplier of the Company to cease
doing business with the Company, or to reduce the amount of business it does with the Company (the terms “customer”
and “client” as used in this Section 7 to include any potential customer or client to whom the Company submitted bids
or proposals, or with whom the Company conducted negotiations, during the term of Executive’s employment hereunder or during
the twelve (12) months preceding the termination of his employment);

 

(ii)              solicit for himself or any other person or entity other than the Company the business of any person or entity which is a
customer or client of the Company, or was a customer or client of the Company within one (1) year prior to the termination of his
employment; or

 

(iii)            
persuade or attempt to persuade any employee of the Company, or any individual who was an employee of the Company during
the one (1) year period prior to the lawful and proper termination of this Agreement, to leave the Company’s employ, or to
become employed by any person or entity other than the Company.

 

(b)  
Executive acknowledges that the restrictive covenants (the “Restrictive Covenants”) contained in Sections
6 and 7 of this Agreement are a condition of his employment and are reasonable and valid in geographical and temporal scope and
in all other respects. If any court determines that any of the Restrictive Covenants, or any part of any of the Restrictive Covenants,
is invalid or unenforceable, the remainder of the Restrictive Covenants and parts thereof shall not thereby be affected and shall
remain in full force and effect, without regard to the invalid portion. If any court determines that any of the Restrictive Covenants,
or any part thereof, is invalid or unenforceable because of the geographic or temporal scope of such provision, such court shall
have the power to reduce the geographic or temporal scope of such provision, as the case may be, and, in its reduced form, such
provision shall then be enforceable.

 

8.     
Inventions and Discoveries. Executive agrees promptly to disclose in writing to the Company any invention or discovery
made by him during the period of time that this Agreement remains in full force and effect, whether during or after working hours,
in any business in which the Company is then engaged or which otherwise relates to any product or service dealt in by the Company
and such inventions and discoveries shall be the Company’s sole property. Executive acknowledges that any such invention
or discovery developed by him and any intellectual property rights relating thereto shall be considered as “work performed
for hire.” In the event that any such intellectual property rights are not, for any reason, deemed work performed for hire,
Executive hereby assigns to the Company any and all of his right, title and interest therein to the Company. Upon the Company’s
request, Executive shall execute and assign to the Company all applications for copyrights and patents of the United States and
such foreign countries as the Company may designate, and Executive shall execute and deliver to the Company such other instruments
as the Company deems necessary to confirm the Company’s sole ownership of all rights, title and interest in and to such inventions
and discoveries, as well as all copyrights and/or patents. If services in connection with applications for copyrights and/or patents
are performed by Executive at the Company’s request after the termination of his employment hereunder, the Company shall
pay him reasonable compensation for such services rendered after termination of this Agreement.

 

9.     
Injunctive Relief. Executive agrees that his violation or threatened violation of any of the provisions of Sections
6, 7 or 8 of this Agreement shall cause immediate and irreparable harm to the Company. In the event of any breach or threatened
breach of any of said provisions, Executive consents to the entry of preliminary and permanent injunctions by a court of competent
jurisdiction prohibiting him from any violation or threatened violation of such provisions and compelling him to comply with such
provisions. In the event an injunction is issued against any such violation by Executive, the period referred to in Section 7 of
this Agreement shall continue until the later of the expiration of the period set forth therein or one (1) month from the date
a final judgment enforcing such provisions is entered and the time for appeal has lapsed. The provisions of Sections 6, 7, 8 and
9 of this Agreement shall survive any termination of this Agreement and Executive’s employment pursuant to this Agreement.

 

    	 	- 4 -	 

     

    

 

 

10. 
Miscellaneous.

 

(a)   
Executive represents, warrants, covenants and agrees that he has a right to enter into this Agreement, that he is not a
party to any agreement or understanding, oral or written, which would prohibit performance of his obligations under this Agreement,
and that he will not use in the performance of his obligations hereunder any proprietary information of any other party which he
is legally prohibited from using.

 

(b)  
If requested by the Company, Executive will cooperate with the Company in connection with the Company’s application
to obtain key-man life insurance on his life, on which the Company will be the beneficiary. Such cooperation shall include the
execution of any applications or other documents requiring his signature and submission of insurance applications and submission
to a physical.

 

(c)   
Any notice, consent or communication required under the provisions of this Agreement shall be given in writing and sent
or delivered by hand, overnight courier or messenger service, against a signed receipt or acknowledgment of receipt, or by registered
or certified mail, return receipt requested, or telecopier or similar means of communication if receipt is acknowledged or if transmission
is confirmed by mail as provided in this Section 10(c), to the parties at their respective addresses set forth at the beginning
of this Agreement or by telecopier to the Company or to Executive, with notice to the Company being sent to the attention of the
individual who executed this Agreement on behalf of the Company. Either party may, by like notice, change the person, address or
telecopier number to which notice is to be sent. If no telecopier number is provided for Executive, notice to him shall not be
sent by telecopier.

 

(d)  
This Agreement shall in all respects be construed and interpreted in accordance with, and the rights of the parties shall
be governed by, the laws of the State of New York applicable to contracts executed and to be performed wholly within such State,
without regard to principles of conflicts of laws. The parties hereto agree to submit to the exclusive jurisdiction of the state
and federal courts of New York, New York.

 

(e)   
If any term, covenant or condition of this Agreement or the application thereof to any party or circumstance shall, to any
extent, be determined to be invalid or unenforceable, the remainder of this Agreement, or the application of such term, covenant
or condition to parties or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected
thereby and each term, covenant or condition of this Agreement shall be valid and be enforced to the fullest extent permitted by
law, and any court having jurisdiction may reduce the scope of any provision of this Agreement, including the geographic and temporal
restrictions set forth in Section 7(a) of this Agreement, so that it complies with applicable law.

 

(f)   
This Agreement constitutes the entire agreement of the Company and Executive as to the subject matter hereof, superseding
all prior or contemporaneous written or oral understandings or agreements, including any and all previous employment agreements
or understandings, all of which are hereby terminated, with respect to the subject matter covered in this Agreement. This Agreement
may not be modified or amended, nor may any right be waived, except by a writing which expressly refers to this Agreement, states
that it is intended to be a modification, amendment or waiver and is signed by both parties in the case of a modification or amendment
or by the party granting the waiver. No course of conduct or dealing between the parties and no custom or trade usage shall be
relied upon to vary the terms of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement
on any occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence
to that term or any other term of this Agreement.

 

    	 	- 5 -	 

     

    

 

 

(g)  
Neither party hereto shall have the right to assign or transfer any of its or his rights hereunder except in connection
with a merger or consolidation of the Company or a sale by the Company of all or substantially all of its business and assets.

 

(h)  
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors,
executors, administrators and permitted assigns.

 

(i)    
The headings in this Agreement are for convenience of reference only and shall not affect in any way the construction or
interpretation of this Agreement.

 

(j)    
No delay or omission to exercise any right, power or remedy accruing to either party hereto shall impair any such right,
power or remedy or shall be construed to be a waiver of or an acquiescence to any breach hereof. No waiver of any breach hereof
shall be deemed to be a waiver of any other breach hereof theretofore or thereafter occurring. Any waiver of any provision hereof
shall be effective only to the extent specifically set forth in an applicable writing. All remedies afforded to either party under
this Agreement, by law or otherwise, shall be cumulative and not alternative and shall not preclude assertion by such party of
any other rights or the seeking of any other rights or remedies against any other party.

 

IN WITNESS WHEREOF,
the parties have executed this Agreement as of the date first above written.

 

 

NOWNEWS
DIGITAL MEDIA TECHNOLOGY CO., LTD.

 

 

By:
 /s/ Alan Chan

Alan
Chan

Chairman
of the Board

 

 

Executive:

 

 

/s/
Shuo-Wei Shih

Shuo-Wei
Shih

 

 

 

    	 	- 6 -

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