Document:

Exhibit 10.13

    

    

    EMPLOYMENT AGREEMENT

    

    

    THIS AGREEMENT is dated as of the 20th day of August, 2017 by and between Cenntro Automotive Corporation, a Delaware
      corporation (the “Company”), and, Mr. Tony Wen Tsai (“Executive”).

    

    

    W I T N E S S E T H:

    

    

    WHEREAS, the Company is desirous of engaging Mr. Tony Wen Tsai as its VP of Corporate Affairs 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. Effective Date of Agreement.  This Agreement and the obligations of the parties to adhere to the terms and
      conditions contained herein shall not be deemed effective until (i) the earlier of 30 days from the date of this Agreement, or (ii) the date that the Executive has resolved any prior conflicts with his ability to assume his duties under the terms of
      this Agreement.

     

    

    2. Employment and Duties.

     

    

    (a)          Subject to the terms and conditions hereinafter set forth, the Company hereby employs Tony Wen Tsai as its VP of Corporate Affairs.  During the Term, as hereinafter
      defined, Executive shall report to the Company’s Chief Executive Officer.  Executive shall also perform such other duties and responsibilities as may be determined by the Company’s board of directors and Chief Executive Officer, as long as such
      duties and responsibilities are consistent with those of the Company’s VP of Corporate Affairs.

    

    

    (b)          Unless terminated earlier as provided in Section 5 of this Agreement, this Agreement shall have an initial term (the “Initial Term”) commencing as of (i) the
      earlier of 30 days from the date of this Agreement, or (ii) the date that the Executive has resolved any prior conflicts with his ability to assume his duties under the terms of this Agreement, and expiring on July 11, 2019, 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.”

    

    

    3. 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.

    

    

    4. Compensation and Other Benefits.

    

    

    For his services to the Company during the Term, the Company shall (a) pay Executive an annual salary (“Salary”), and (b) grant to Executive an option (“Option”) to purchase the Company’s common
      stock.  Executive’s Salary and terms of the Option will be discussed and determined separately.

    

    

    
      

      
        

      

    

    
    All Salary payments shall be payable in equal monthly installments at the end of each calendar month, as the Company regularly pays its employees in accordance with normal payroll practices.

    

    

    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 two (2) consecutive months or three (3)
      months, even though not consecutive, in any twelve (12) month period.

    

    

    (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 and/or Chief Executive Office, 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 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 or 7 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 the Company’s Chief Executive Officer 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;

    

    

    
      

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    (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.

    

    

    (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 VP of Corporate Affairs, 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 VP of Corporate Affairs.

    

    

    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 VP of Corporate Affairs, Executive agrees that he will not, during or after the Term, without the consent of the Company’s Chief Executive Officer, 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 him 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 and 7 of this Agreement, the term
      “Company” shall include the Company, its parent, its subsidiaries and its affiliates.

     

      

    
      

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    7. Covenant Not To Solicit or Compete.

     

    

    (a)          During the period from the date of this Agreement until two (2) years following the date on which Executive’s employment is terminated, he will not, directly or
      indirectly:

    

    

    (i)          Be employed by or otherwise serve (including but not limited to as a director of the board, a founder or co-founder) in any other entities in the industry or business of electric
      vehicles;

    

    

    (ii)          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);

    

    

    (iii)          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

    

    

    (iv)          persuade or attempt to persuade any employee of the Company, or any individual who was an employee of the Company during the two (2) 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 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. 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.

    

    

    
      

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    (b)          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
      Delaware applicable to contracts executed and to be performed wholly within such State, without regard to principles of conflicts of laws.

    

    

    (c)          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 of this Agreement, so that it complies with applicable law.

    

    

    (d)          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.

    

    

    (e)          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.

    

    

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

    

    

    	 	
            CENNTRO AUTOMOTIVE CORPORATION

          
	 	 	 
	 	
            By:

          	
            /s/ Peter Zuguang Wang

          
	 	 	
            Peter Zuguang Wang

          
	 	 	
            President

          
	 	 	 
	 	
            Executive:

          
	 	 	 
	 	 	
            /s/ Tony Wen Tsai

          
	 	 	
            Tony Wen TsaiExhibit 10.14

    

    

    Full-time Labor Contract

    

    

    Party A (employer): Hangzhou Ronda Tech Co., Ltd. (杭州容大智造科技有限公司)

    Address: Building 12, Sunking Plaza, Wuchang Sub-district, Yuhang District, Hangzhou

    Legal representative (or person-in-charge): Zuguang Wang

    Party B (employee): Wei Zhong Gender: male

    Citizen identity card no.: 330103197802170013 Education: Bachelor

    Address: Room 502, Building 321, Xianlin Yuan, Xiacheng District, Hangzhou

    

    

    In accordance with the Labor Law of the People’s Republic of China, the Labor Contract Law of the People’s Republic of China and other
      applicable laws, regulations and rules, on the basis of equality, free will, and consensus through negotiations, Party A and Party B agree to enter into this labor contract and bide by and terms and conditions set forth herein:

    

    

    Article 1 Type and Term of Labor Contract

    

    

    1.     The type and term of this labor contract shall follow the Item (1) as below:

    

    

    (1)    Fixed term: from November 26, 2017 to November 25, 2020

    

    

    (2)    Open-ended: from ____________ until satisfaction of any of the conditions for termination stipulated by law.

    

    

    (3)    Term based on the completion of a certain job: from ____________ until____________.

    

    

    2.     A probationary period is provided hereunder, from    ----      until     ----     

    

    

    Article 2 Job Content, Working Place and Job Requirement

    

    

    Party B shall be responsible for technical management, and work at Hangzhou.

    

    

    Party B shall meet the job requirement of his position as required by the company. According to the work need by Party A, the job position and working place may be changed after negotiation and agreement by
      Party A and Party B.

    

    

    Article 3 Working Hours and Rest and Leaves

    

    

    1.     The working hours shall follow the Item (1) as below:

    

    

    (1)    Standard working hour system. Party B shall work 8 hours a day and 40 hours a week, with two days off a week.

    

    

    
      
        

    

    (2)    Flexible working hour system approved by the labor and social security administrative department.

    

    

    (3)    Comprehensive working hour system approved by labor and social security administrative department. Settlement cycle: __________.

    

    

    2.     Party A may extend the working hours of Party B due to its business need and after negotiation with the trade union and Party B, generally for up to one hour per day, and for up to three hours per day if there
      is a need to extend the working hours due to special reasons, but shall not exceed 36 hours per month. Party A shall guarantee Party B’s right to take rest according to law.

    

    

    Article 4 Labor Remuneration and Method and Time for Payment of Labor Remuneration

    

    

    1.      The monthly labor remuneration for Party B during the probationary period shall be     -------    . 

    

    

    2.     After the probationary period, the monthly labor remuneration of Party B shall be RMB 7,000 for providing normal work during statutory working hours, or be     ----- based on the remuneration
      system established by Party A.

    

    

    The increase or decrease of Party B’s salary, the payment of bonus, allowance, subsidy and overtime pay, and the salary payment under special circumstances shall be implemented according to applicable laws and
      regulations and the policies established by Party A according to law. The salary payable by Party A to Party B shall not be lower than the local minimum salary standard.

    

    

    3.      The payroll date shall be the 30th day of each month. Party A shall pay salary to Party B in cash every month without delay.

    

    

    4.      Party A shall pay salary according to law during the period when Party B enjoys statutory holidays or participates in social activities according to law.

    

    

    Article 5 Social Insurance

    

    

    Party A and Party B must contribute to the social insurance according to law, and pay social insurance premiums on a monthly basis. Party A shall withhold the portion payable by Party B from Party B’s salary.

    

    

    
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    Article 6 Labor Protection, Working Conditions and Occupational Hazard Protection

    

    

    Party A and Party B must strictly implement the national regulations on safety production, labor protection and occupational health. The type of work with occupational hazards shall be specified in the contract. Party
      A shall provide Party B with labor protection facilities, labor protection articles and other labor protection conditions in accordance with relevant regulations. Party B shall strictly abide by all safety operation procedures. Party A must
      consciously implement the national regulations on labor protection for female employees and special protection for underage workers.

    

    

    Article 7 Modification, Rescission and Termination of Labor Contract

    

    

    1.     Party A and Party B may modify the provisions of this labor contract after agreement through negotiations. Modifications of this labor contract shall be made in written form. Party A and Party B shall each hold
      one copy of the modified labor contract.

    

    

    2.      Party A and Party B may terminate this labor Contract after agreement through negotiations.

    

    

    3.     Party B may terminate this labor contract after giving Party A a written notice thirty (30) days in advance. During probationary period, Party B may terminate this labor contract by giving Party A a notice three
      (3) days in advance.

    

    

    
      4.     Party B may rescind this labor contract if Party A has any of the following situations:

    

    

    

    (1)    fails to provide the labor protection or working conditions as specified in this labor contract;

    

    

    (2)    fails to pay full labor remuneration in a timely manner;

    

    

    (3)    fails to contribute social insurance premiums in accordance with law;

    

    

    (4)    rules and systems of Party A violate the provisions of laws or regulations and are prejudicial to Party B’s rights and interests;

    

    

    (5)    uses such means as fraud or coercion, or takes advantage of another’s danger, to cause Party B to conclude or modify this labor contract against his real intention which makes this labor contract be invalid; or

    

    

    (6)    Other circumstances under which Party B may rescind this labor contract as provided by laws and regulations.

    

    

    Where Party A uses violence, threats or unlawful restriction of personal freedom to compel Party B to work, or if Party A makes commands against rules or compels Party B to work at risk which endangers Party B’s
      personal safety, Party B may rescind this labor contract forthwith without giving prior notice to Party A.

    

    

    
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      5.     Party A may rescind this labor contract if Party B has any of the following situations:

    

    

    

    (1)    is proved not to be qualified for the employment conditions during the probationary period;

    

    

    (2)    seriously violates Party A’s rules and regulations;

    

    

    (3)    commits serious dereliction of duty or engages in malpractice, causing substantial damage to Party A;

    

    

    (4)   has concurrently established employment relationship with another employer which seriously affects the completion of Party A’s tasks or refuses to make correction after Party A raises the issue;

    

    

    (5)    uses such means as fraud or coercion, or takes advantage of another’s danger, to cause Party A to conclude or modify this labor contract against its real intention which makes this labor contract be invalid; or

    

    

    (6)    is subject to criminal liability in accordance with law.

    

    

    6.     Under any of following situations, Party A may rescind this labor contract by giving Party B a written notice thirty (30) days in advance, or paying one month’s salary in lieu of the notice:

    

    

    (1)    Party B is ill or suffers non-work-related injury, and is unable to engage in the original work or the work otherwise arranged by Party A after the specified medical treatment period expires;

    

    

    (2)    Party B is incompetent for the job and remains incompetent after training or job adjustment; or

    

    

    (3)   where material changes to the objective circumstances under which the labor contract was concluded have occurred and rendered the original labor contract unenforceable, and Party A and Party B have failed to
      reach an agreement on an amendment to the label contract after negotiation;

    

    

    7.     If Party A carries out reorganization in accordance with Business Bankruptcy Law; or faces serious difficulties in production and operation; or undergoes business transformation, major technological innovation
      or business mode adjustment, and still needs to retrench personnel after modification of the labor contract; or there is a material change in the objective economic circumstances under which the labor contract was concluded, which makes the labor
      contract unenforceable, it shall explain the situation to the labor union or all employees thirty (30) days in advance and listen to the opinions of the labor union or employees, and the labor contract may be rescinded after the retrenchment plan is
      reported to the labor administrative department in a written form.

    

    

    
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      8.      Under any of the following circumstances, this labor contract shall be terminated:

    

    

    

    (1)    the labor contract expires;

    

    

    (2)    Party B has started to enjoy his basic insurance pension according to law;

    

    

    (3)    where Party B dies, or is declared dead or missing by a people’s court;

    

    

    (4)    where Party A is declared bankrupt, or has its business license revoked, is ordered to close, is revoked, or Party A decides on an early dissolution; or

    

    

    (5)    other circumstances as specified by laws or administrative regulations.

    

    

    9.    Upon expiration of this labor contract, if Party B is under any of the following circumstances, the term of this labor contract shall be extended until the corresponding circumstance ceases to exist: 

    

    

    (1)    engages in operations exposing him to occupational disease hazards and has not undergone a pre-departure occupational health check-up, or is suspected of having contracted an occupational disease and is under
      diagnosis or medical observation;

    

    

    (2)    is confirmed as having lost or partially lost his capacity to work due to an occupational disease or work-related injury while working for the employer;

    

    

    (3)    is ill or suffers non-work-related injury during the stipulated medical treatment period;

    

    

    (4)    a female employee is in her pregnancy, confinement or nursing period;

    

    

    (5)    has been working for the employer continuously for fifteen (15) years and will attain his/her statutory retirement age in less than five years;

    

    

    (6)    other circumstances as specified in laws or administrative regulations.

    

    

    10.    Party A shall not terminate his labor contract in accordance with Item 6 and Item 7 of this Article if Party B has any of the circumstances as specified in Item 9 of this Article.

    

    

    
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    Article 8 Liability for Breach of Labor Contract

    

    

    Party A shall be liable for compensation to Party B if it illegally rescinds or terminates this labor contract. Party B shall be liable for compensation according to law if it illegally terminates this labor contract
      and causes economic losses to Party A.

    

    

    Article 9 Other Matters Agreed by both Parties

    

    

    Party B shall abide by the confidentiality policy of the company.

    

    

    Article 10 Miscellaneous

    

    

    1.      Either party may submit any dispute arising out of the performance of this contract to the enterprise labor dispute mediation committee for settlement, any may also submit to the labor dispute arbitration
      commission for arbitration, and may bring a lawsuit to the people’s court against the arbitration award.

    

    

    3.      For any matters not covered herein, the relevant laws and regulations of the state shall apply.

    

    

    4.     In case any provision of this contract conflicts with the provision of any laws and regulations subsequently promulgated by the state, such laws and regulations shall apply.

    

    

    5.      This contract is concluded according to law and comes into force after signatures and seal by both parties. Both Parties shall strictly perform this contract.

    

    

    6.      This contract is made in duplicate, and Party A and Party B shall each hold one copy.

    

    

    	
            Party A (Seal):

          	
            Party B (signature):

          
	 	 
	
            (Seal of Hangzhou Ronda Tech Co., Ltd.)

          	
            /s/ Wei Zhong

          
	 	 
	
            Signature of legal representative:

          	 
	 	 
	
            /s/ Legal Representative

          	
             

          
	 	 
	 Date:	 
	 	 Date: November 26, 2017

    

    

    

    

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