Document:

Exhibit

Exhibit 10.3

NON-EMPLOYEE DIRECTOR FEE ARRANGEMENTS 
Non-employee directors are paid an annual retainer fee of $240,000. If the Chairman of the Board is not an employee of the Corporation, he or she is paid an additional annual fee of $50,000. If the Chairman of the Board is an employee of the Corporation, a Presiding or Lead Director is appointed who is paid an additional annual fee of $25,000. Committee Chairs are paid an additional annual fee of $20,000. 
No meeting fees or committee membership fees are paid.
See the Corporation’s most recent definitive proxy statement on Schedule 14A for additional disclosure on director compensation.EX-10.1

 Exhibit 10.1 

Trex Company, Inc. 

Description of Management Compensatory Plans and Arrangements 

Components of Executive Compensation. 
 In accordance with
the rules of the New York Stock Exchange, all components of compensation for the chief executive officer and other executive officers of Trex Company (the “Company”) are determined by the Compensation Committee of the Board of Directors,
all of whom meet the independence requirements prescribed by such rules. 
 The Company’s executive compensation program includes a base salary, annual
cash incentive compensation, and long-term equity incentive compensation issued under the Trex Company, Inc. 2014 Stock Incentive Plan (the “Stock Incentive Plan”). 

Base Salary. Base salaries are the only non-variable element of the Company’s total compensation. They
reflect each executive officer’s responsibilities, the impact of each executive officer’s position, and the contributions each executive officer delivers to the Company. Salaries are determined by competitive levels in the market for
executives with comparable responsibilities and job scope based on the Company’s peer group and the results of executive compensation surveys, as well as the Company’s internal equity considerations. Each year, at its December meeting, the
Compensation Committee reviews and establishes the base salaries of the Company’s executive officers for the next calendar year. Salary increases, if any, are based on individual performance, market conditions and Company performance. To gauge
market conditions, the Compensation Committee evaluates the peer group and market data compiled by its independent compensation consultant. Base salaries are set upon review of the peer group and market data provided to the Compensation Committee
upon consideration of the executive officer’s experience, tenure, performance and potential. 
 Annual Cash Incentive Compensation. The Company
pays annual cash incentive compensation to its chief executive officer, other executive officers, and other key employees generally based upon the achievement of the Company’s planned pretax earnings and cash-flow objectives for the fiscal
year, which are approved by the Compensation Committee no later than the first quarter of the year. For each fiscal year, each participant in the plan is assigned a “target incentive,” which is expressed as a percentage of the
participant’s annual base salary. The cash incentive amount paid to a participant is determined by multiplying their target incentive by a performance percentage, which is calculated based on the extent to which the planned pretax earnings and
cash flow objectives are achieved (excluding any items determined by the Compensation Committee to be extraordinary and not considered in the establishment of such targets), subject to the discretion of the Compensation Committee to increase or
decrease such amount. Cash incentive payments are conditional upon the participant’s continued employment by the Company through the date of grant, and are pro-rated for employees who have served for less
than a full year. 
 Long-Term Equity Incentive Compensation. The Company maintains a long-term equity incentive compensation plan for the benefit of
its chief executive officer, other executive officers, and other key employees. Awards under the plan are made under the Stock Incentive Plan by the Compensation Committee. Such awards consisted of a mix of 50% performance-based restricted stock
units, 35% time-based restricted stock units, and 15% stock appreciation rights, or “SARS”. The restricted stock units and SARS each have a three-year vesting period, vesting one-third each year
equally, with the vesting of the performance-based restricted stock units based on performance against target earnings before interest, taxes, depreciation and amortization, or “EBITDA,” for 1 year, cumulative 2 years and cumulative 3
years, respectively (in each case excluding any items determined by the Compensation Committee to be extraordinary and not considered in the establishment of such targets). The total target long-term incentive award for each participant in the plan
is expressed as a percentage of the participant’s base salary. The grant of any long-term equity is conditional upon the attainment of positive pretax earnings target for the prior year (excluding any items determined by the Compensation
Committee to be extraordinary and not considered in the establishment of such targets), subject to the discretion of the Compensation Committee to increase or decrease the award. 

Personal Benefits and Perquisites. The Company maintains a limited number of benefit programs available solely to the Company’s executive
officers. The personal benefits are considered to constitute a part of the Company’s overall program and are presented in this light as part of the total compensation package approved by the Compensation Committee at the time of an executive
officer’s hiring or promotion, as part of the Compensation Committee’s review of each executive officer’s annual total compensation, and in compensation discussions with executive officers. 

Other Compensatory Plans 
 The Company’s executive
officers also are eligible to participate in the Company’s 401(k) plan, which is available to all regular Company employees.Exhibit 10.11

 

EARLYBIRDCAPITAL, INC.

366 MADISON AVENUE, 8TH
FLOOR

NEW YORK, NEW YORK 10017

  

November 16, 2017

 

Bison Capital Acquisition Corp.

  

Attention: James Tong

 

Dear James:

 

The purpose of this
letter is to confirm the engagement of EarlyBirdCapital, Inc. (sometimes referred to as “we” or “Finder”)
by Bison Capital Acquisition Corp. (sometimes referred to as “you” or “Company”) to introduce potential
targets (“Targets”) to the Company on a nonexclusive basis in connection with consummating a merger, capital stock
exchange, asset acquisition or other similar business combination (a “Transaction”), all as described in the Company’s
final prospectus dated June 19, 2017 (the “Prospectus”), with one or more businesses or entities listed on Exhibit
A hereto (each a “Target”). Exhibit A may be updated from time to time by mutual agreement of the parties hereto, as
evidenced by their initials next to each of the potential Targets listed on Exhibit A.

 

Section
1. Services. Finder will:

 

(a)        advise
and assist the Company in identifying potential Target(s) and will, on behalf of the Company, contact potential Targets as the
Company may designate from among those identified by Finder or as identified by the Company; and

 

(b)        assist
the Company in the course of its negotiation of a Transaction with a potential Target and will participate directly in such negotiations
only if requested to do so by the Company.

 

It is understood that
the Company will be under no obligation to enter into a Transaction and the Company will be within its rights to decline any offer
made in connection with a Transaction at anytime.

  

     

    

    

 

In connection with
our activities on the Company’s behalf, the Company will furnish us and any potential Target or Targets with all information
about the Company (the “Information”) which we may reasonably request, and the Company will provide Finder and any
potential Target(s) approved by the Company reasonable access to the Company’s officers, directors, accountants and counsel;
provided however, that prior to the delivery of any confidential Company information, you may require that a potential Target
shall have signed and delivered a confidentiality agreement acceptable to the Company. The Company represents and warrants that,
to the best of its knowledge, the information it provides about the Company will be true, accurate and complete and will not contain
any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein not misleading. The Company acknowledges and agrees that, in rendering our services hereunder, we will be using
and relying on the Company information (and information available from public sources and other sources which we deem to be reliable)
without any independent verification thereof and without independent appraisal of any of the Company’s assets. We do not
assume responsibility for the accuracy or the completeness of the Company information provided to us or a potential Target or any
other information regarding the Company that we obtain for use in connection with this engagement.

 

It is understood and
acknowledged by the Company that the value of the services to be rendered by Finder under this agreement is not susceptible of
quantification. In addition, although Finder will render the services contemplated by this agreement, Finder will not be obligated
to spend any specific amount of time in so doing. Because Finder has access to staff persons and others with specialized skills,
the services to be provided hereunder may be rendered by any one of that staff and consultants as Finder determines in its sole
discretion; provided, however, that in such event, Finder will advise such staff and/or consultants of the obligations of confidentiality
of the Finder set forth in the Confidentiality Agreement (defined below),have such staff and/or consultants agree to be bound by
such obligations and be responsible for any breach of such obligations by such persons. Finder is an independent investment banking
firm, and except as otherwise provided herein, it may render services of the same or similar nature to any other person, for entities
in the same or similar business lines as the Company.

 

Section
2. Fees. The Company shall pay to Finder for its services hereunder, upon the closing (or closings) of a Transaction with
a Target and as otherwise provided in this agreement, a cash fee equal to one percent (1.0%) of the Total Consideration (as the
term “Total Consideration” is defined below) deducting any finder fee, advisor fee or any other type of service fee
or compensation that Target has paid or has agreed to pay to Finder in connection with such Transaction.

 

For the purposes of
this agreement, “Total Consideration” shall mean the total value of all cash, securities, or other property paid or
transferred at the closing (or closings) of a Transaction by or to the Company, the Target and/or their respective shareholders
or to be paid or transferred in the future to such parties with respect to such Transaction (other than payments of interest or
dividends), including, without limitation, any value paid in respect of (i) the assets of the Company or Target, (ii) the capital
stock of the Company or Target (and any securities convertible into options, warrants or other rights to acquire such capital stock),
and (iii) the assumption, retirement or defeasance, directly or indirectly (by operation of law or otherwise), of any long-term
liabilities of the Company or Target or repayment of indebtedness, including, without limitation, indebtedness secured by the assets
of the Company or Target, capital leases or preferred stock obligations.

  

    	 	2	 

    

    

 

If Total Consideration
paid or transferred in the Transaction includes non-cash consideration consisting of common stock, options, warrants or rights
for which a public trading market existed prior to consummation of the Transaction, then the value of such securities shall be
determined by the closing or last sales price thereof on the date of the consummation of the Transaction; provided, however, that
if such non-cash consideration consists of newly-issued, publicly traded common stock, options, warrants or rights for which no
public trading market existed prior to the consummation of the Transaction, then the value thereof shall be the average of the
closing prices for the 20 trading days subsequent to the fifth trading day after the consummation of the Transaction. In such event,
the fee payable to us pursuant to this Section 2 shall be paid on the 30th trading day subsequent to consummation of the Transaction.
If all or a portion of the Total Consideration paid or transferred in the Transaction is other than cash and securities for which
there is a public trading market, then the value of such other consideration shall be the fair market value thereof on the date
the Transaction is consummated as mutually agreed upon in good faith by the Company and Finder. Any amounts payable or transferable
to the Company or Target, or any affiliate of the Company or Target or any shareholder of the Company or Target in connection with
a non-competition agreement or any employment, consulting, licensing, supply, transfer, assignment, forbearance or other agreement
(whether by separate agreement or in the Transactions documents), to the extent that such amounts payable are greater than what
would customarily be paid on an arms-length basis, shall be deemed to be part of the consideration paid in the Transaction. If
all or a portion of the Total Consideration payable or transferable in connection with a Transaction includes future payments,
whether or not in escrow, then the Company shall pay us any additional cash fee, determined in accordance with this Section 2,
when, and if such payments are paid.

 

Section
3. Expenses. In addition to the compensation described in Section 2 above, the Company agrees to promptly reimburse Finder,
upon request, for all out-of-pocket expenses incurred (including, without limitation, all travel and lodging expenses, and reasonable
fees and disbursements of any counsel, consultants and advisors retained by us with the Company’s consent) in connection
with our services pursuant to this agreement; provided, however, that unless otherwise consented to in writing by the Company
in advance such expenses shall not exceed $10,000 in the aggregate through the termination of the Agreement.

 

Section
4. Indemnity. Because we will be acting on the Company’s behalf, it is our practice to receive indemnification. A
copy of our standard indemnification provisions (the “Indemnification Provisions”) is attached to this agreement and
is incorporated herein and made a part hereof. Finder will indemnify the Company for any losses, claims, damages, obligations,
penalties, judgments, awards, liabilities, costs, expenses and disbursements relating to Finder’s bad faith, gross negligence
or willful misconduct in performing services for the Company hereunder

  

    	 	3	 

    

    

 

Section
5. Termination of Engagement. Finder’s engagement hereunder may be terminated by either the Company or Finder at any
time, with or without cause, upon written advice to that effect to the other party; provided, however, that notwithstanding any
such termination, Finder will be entitled to its full fee under Section 2 hereof in the event that at any time prior to the expiration
of 24 months after such termination, a Transaction is consummated with a Target. The termination of this agreement will not terminate
the provisions of Sections 3 through 9 hereof.

 

Section
6. Intentionally Omitted.

 

Section
7. Trust Account. Finder represents that it has read the Prospectus and understands that the Company has established the
trust account described in the Prospectus for the benefit of the Company’s public stockholders and the underwriters, and
that, except for certain exceptions described in the Prospectus, the Company may disburse monies from the trust account only: (i)
to the public stockholders in the event of the conversion of their shares or the liquidation of the Company; or (ii) to the Company
and the underwriters after consummation of a Transaction, as described in the Prospectus. Finder hereby agrees that it does not
have any right, title, interest or claim of any kind in or to any monies in the trust account (a “Claim”) and hereby
waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the
Company and will not seek recourse against the trust account for any reason whatsoever

 

Section
8. Public Announcements. Finder may, at its option and expense, upon prior consent of the Company and after public announcement
of the Transaction, place announcements and advertisements or otherwise publicize the Transaction and Finder’s role in it,
which may include the reproduction of the Company’s logo and a hyperlink to the Company’s website on Finder’s
website, and in such financial and other newspapers and journals as it may choose, stating that Finder has acted as financial advisor
to the Company in connection with the Transaction. Further, if requested by Finder, the Company will include a mutually acceptable
reference to Finder in any press release or other public announcement made by the Company regarding the matters described in this
agreement.

 

Section
9. Successors and Assigns. The benefits of this agreement shall inure to the respective successors and assigns of the parties
hereto and of the indemnified parties hereunder, and the obligations and liabilities assumed in this agreement by the parties hereto
shall be binding upon their respective successors and assigns; provided, that the rights and obligations of either party under
this agreement may not be assigned without the prior written consent of the other party hereto and any other purported assignment
shall be null and void.

  

    	 	4	 

    

    

 

Section
10. Miscellaneous.

 

(a)        The
validity and interpretation of this agreement shall be governed by the law of the State of New York applicable to agreements made
and to be fully performed therein. Any dispute that arises under this agreement initially will be mediated by a mutually acceptable
mediator to be chosen by Finder and the Company within 15 days after written notice from either party demanding mediation. Neither
party may unreasonably withhold consent to the selection of a mediator, and the parties will share the costs of the mediation equally.
Any dispute which the parties cannot resolve through mediation within two months of the date of the initial demand for it by one
of the parties may then be submitted to binding arbitration under the rules of the American Arbitration Association. The use of
mediation will not be construed under the doctrine of latches, waiver or estoppel to affect adversely the rights of either party.
Nothing in this paragraph will prevent either party from resorting to judicial proceedings if (a) good faith efforts to resolve
the dispute under these procedures have been unsuccessful or (b) interim relief from a court is necessary to prevent serious and
irreparable injury. The parties hereto agree that for any judicial proceeding arising out of this agreement, the exclusive jurisdiction
and venue will be any court of the State of New York located in the City and County of New York, or the United States District
Court for the Southern District of New York, and the parties agree to accept service by mail sent to the address of the parties
as set forth in this agreement or as notified by written correspondence and made a part hereof. Finder agrees, and the Company
herby agrees on its own behalf and to the extent permitted by applicable law on behalf of its security holders, to waive any right
to trial by jury with respect to any claim, counter-claim or action arising out of this agreement.

 

(b)        The
Company expressly acknowledges that all opinions and advice (written or oral) given by Finder to the Company in connection with
Finder’s engagement are intended solely for the benefit and use of the Company. Such opinions and advice may not be disclosed
to any person or entity other than the directors and executive officers of the Company, without the prior written permission of
the Finder.

 

(c)        The Company is a sophisticated business enterprise that has retained Finder for the limited purposes
set forth in this agreement, and the parties acknowledge and agree that their respective rights and obligations are
contractual in nature. Each party disclaims an intention to impose fiduciary obligations on the other by virtue of the
engagement contemplated by the agreement, and each party agrees that there is no fiduciary relationship between them.

  

    	 	5	 

    

    

 

Please confirm that
the foregoing is in accordance with your understanding by signing and returning to Finder two copies of this agreement.

 

	 	Very truly yours,
	 	 
	 	EARLYBIRDCAPITAL, INC.
	 	 
	 	By:	/s/ Michael Powell
	 	Name:	 Michael Powell
	 	Title: 	Managing Director

 

ACCEPTED AND AGREED AS OF

THE DATE FIRST ABOVE WRITTEN:

  

	Bison Capital Acquisition Corp.	 
	 	 
	By:	 /s/ James Jiayuan Tong	 
	Name: 	James Jiayuan Tong	 
	Title:	Chief Executive Officer	 

  

    	 	6	 

    

    

 

INDEMNIFICATION PROVISIONS

  

Bison Capital Acquisition
Corp. (the “Company”) agrees to indemnify and hold harmless EarlyBirdCapital, Inc. (“Finder”) and its affiliates
against any and all losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses and disbursements
(and any and all actions, suits, proceedings and investigations in respect thereof and any and all reasonable legal and other costs,
expenses and disbursements in giving testimony or furnishing documents in response to a subpoena or otherwise), including without
limitation, the reasonable costs, expenses and disbursements, as and when incurred, of investigating, preparing or defending any
such action, suit, proceeding or investigation (whether or not in connection with litigation in which Finder is a party), directly
or indirectly, caused by, relating to, based upon, arising out of, or in connection with Finder’s performance of services
for the Company, including, without limitation, any act or omission by Finder in connection with its acceptance of or the performance
of its obligations under the agreement dated October 18, 2017 between the Company and Finder to which these indemnification provisions
are attached and form a part (the “Agreement”); provided, however, that the Company shall not be obligated to
indemnify, defend or hold harmless Finder for losses, claims, damages, obligations, penalties, judgments, awards, liabilities,
costs, expenses and disbursements suffered by or paid by Finder as a result of acts or omissions of Finder which have been made
or not made in bad faith or which constitute willful misconduct or gross negligence.

 

The indemnification
provisions shall be in addition to any liability which the Company may otherwise have to Finder or the persons indemnified below
in this sentence and shall extend to the following: Finder, its affiliated entities, members, partners, employees, legal counsel,
agents and controlling persons (within the meaning of the federal securities laws), and the officers, directors, employees, legal
counsel, agents and controlling persons of any of them. All references to Finder in these indemnification provisions shall be understood
to include any and all of the foregoing.

 

If any action, suit,
proceeding or investigation is commenced, as to which Finder proposes to demand indemnification, it shall notify the Company within
30 days from the time Finder has any knowledge of such action, suit, proceeding or investigation. Finder shall have the right to
retain counsel which will be reasonably acceptable to the Company to represent it (provided, however, that Finder shall hire only
one law firm and to the extent necessary, local counsel) and the Company shall pay the reasonable fees, expenses and disbursements
of such counsel; and such counsel shall, to the extent consistent with its professional responsibilities, cooperate with the Company
and any counsel designated by the Company. The Company shall be liable for any settlement of any claim against Finder only if made
with the Company’s written consent. The Company shall not, without the prior written consent of Finder, settle or compromise
any claim, or permit a default or consent to the entry of any judgment in respect thereof, unless such settlement, compromise or
consent includes, as an unconditional term thereof, the giving by the claimant to Finder of an unconditional release from all liability
in respect of such claim. If the Company makes any indemnity payment hereunder this Agreement and thereafter a determination is
found in a final judgment by a court of competent jurisdiction (not subject to further appeal) that the Company did not owe indemnity
under this Agreement, Finder shall immediately repay all amounts paid pursuant to the indemnity provisions of this Agreement.

 

In order to provide
for just and equitable contribution, if a claim for indemnification pursuant to these indemnification provisions is made but it
is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) that such indemnification may
not be enforced in such case, even though the express provisions hereof provide for indemnification in such case, then the Company,
on the one hand, and Finder, on the other hand, shall contribute to the losses involved in such proportion as is appropriate to
reflect (i) the relative benefits received by the Company, on the one hand, and Finder, on the other hand, (ii) the relative fault
of the Company, on the one hand, and Finder, on the other hand, in connection with the statements, acts or omissions which resulted
in such losses, and (iii) the relevant equitable considerations. No person found liable for a fraudulent misrepresentation shall
be entitled to contribution from any person who is not also found liable for fraudulent misrepresentation. Notwithstanding the
foregoing, Finder shall not be obligated to contribute any amount hereunder that exceeds the amount of fees previously received
by Finder pursuant to the Agreement.

 

Neither termination
nor completion of the engagement of Finder referred to above shall affect these indemnification provisions which shall then remain
operative and in full force and effect.

   

    	 	7	 

    

    

 

Exhibit A

 

	
        Name of Potential Target
	 	
        Initials
        of Company
	 	
        Initials
        of Finder

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