Document:

Unassociated Document

 

Exhibit 10.1

EMPLOYMENT CONTRACT

BETWEEN: Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd., a company legally incorporated under the laws of People’s Republic of China (mailing address: Suite K, 12th Floor, Building A, Jiangjing Mansion, 228 Yanjiang Ave., Jiang’an District, Wuhan City, Hubei Province) acting and represented herein by Mrs. Hanying Li, Co-Chief Executive Officer, declaring duly authorized, (hereinafter called the "AOXIN TIANLI")

 

AND:   Mr. Wocheng Liu, Chinese Identification number: 410305196304204013, (hereinafter called the "WOCHENG LIU")

(AOXIN TIANLI and WOCHENG LIU hereinafter collectively called "Parties")

	
1.

	
PREAMBLE

The preamble is an integral part of this contract.

WHEREAS, AOXIN TIANLI requires the services of WOCHENG LIU as President and CEO;

WHEREAS, WOCHENG LIU agreed to provide AOXIN TIANLI his full-time services as President and CEO;

WHEREAS the parties wish to confirm their agreement in writing;

WHEREAS the parties have the capacity and quality of exercise all the rights necessary for the conclusion and implementation of the agreement found in this contract;

THEREFORE, THE PARTIES AGREE AS FOLLOWS:

	
2.

	
PURPOSE

	
2.1

	
Services

WOCHENG LIU agrees to assume full-time for AOXIN TIANLI (minimum of forty (40) hours per week) the role of president and CEO during the entire duration of the contract;

	
2.2

	
Term

This contract is for an initial term of 24 months (From June 1, 2016 to May 31, 2018), renewable for an additional period of 24 months unless either party terminates it in writing at least three (3) months before the expiration of the initial term;

	
3.

	
CONSIDERATION

	
3.1

	
Service Awards

In consideration of the provision of services, AOXIN TIANLI to pay WOCHENG LIU, as compensation:

The gross amount of RMB 600,000 ($92,308 US dollars) annually and it is calculated at the rate of twelve (12) equal monthly installments consecutively of RMB 50,000 ($7,692 US dollars) each, less withholding taxes applicable.

 

  

  

  

 

The Year-end award shall only be paid and performed under the Incentive Plan submitted by the management team and approved by the Compensation Committee of the Board.

	
3.2

	
Expenditure incurred

AOXIN TIANLI will reimburse WOCHENG LIU all reasonable expenses incurred in connection with this Agreement, upon presentation of appropriate documentation;

	
3.3

	
Terms and conditions of payment

	
3.3.1

	
The price payable by AOXIN TIANLI to WOCHENG LIU is as follows:

	
3.3.2

	
The sum of RMB 50,000 ($7,692 US dollars) shall be paid on the 10th day of each month from July, 2016.

	
3.3.3

	
The sum of Year-end award shall be paid in terms of the Company’s incentive plan.

	
3.3.4

	
Expenses will be reimbursed on presentation of an expense account on the 24th day of each month.

	
4.

	
SPECIAL PROVISIONS

	
4.1

	
Obligations of AOXIN TIANLI

 

AOXIN TIANLI agrees and undertakes to WOCHENG LIU as follows:

AOXIN TIANLI to bring WOCHENG LIU collaboration and will provide information necessary to ensure the full and faithful discharge of services to be rendered.

	
4.2

	
Obligation to WOCHENG LIU

WOCHENG LIU agrees and undertakes to AOXIN TIANLI to the following: The services must be made full time in a professional manner, according to the rules generally accepted by industry.

	
4.3

	
Commitment to confidentiality and nondisclosure

WOCHENG LIU recognizes that certain disclosures to be provided by AOXIN TIANLI have or may have considerable strategic importance, and therefore represent trade secrets for purposes of this contract. During the term of this Contract and for a period of 36 months following the end of it, WOCHENG LIU is committed to AOXIN TIANLI to:

	
a)  

	
keep confidential and not disclose the information;

	
b)  

	
take and implement all appropriate measures to protect the confidentiality of the information;

 

	
c)

	
not disclose, transmit, exploit or otherwise use for its own account or for others, elements of information.

	
4.4

	
Exclusivity of service provider

During the term of this Contract and for a period of 24 months following the end of it, WOCHENG LIU is committed to AOXIN TIANLI not render services to or for direct or indirect competitors of AOXIN TIANLI.

 

  

  

  

 

	
4.5

	
Responsibilities

 

	
4.5.1

	
Board Administration and Support -- Supports operations and administration of Board by advising and informing Board members, interfacing between Board and staff, and supporting Board's evaluation of chief executives;

 

	
4.5.2

	
Program, Product and Service Delivery: Oversees design, marketing, promotion, delivery and quality of programs, products and services;

 

	
4.5.3

	
Financial, Tax, Risk and Facilities Management:  Recommends yearly budget for Board approval and prudently manages organization's resources within those budget guidelines according to current laws and regulations;

 

	
4.5.4

	
Human Resource Management: Effectively manages the human resources of the organization according to authorized personnel policies and procedures that fully conform to current laws and regulations;

 

	
4.5.5

	
Community and Public Relations: Assures the organization and its mission, programs, products and services are consistently presented in strong, positive image to relevant stakeholders;

 

	
4.5.6

	
Fundraising (nonprofit-specific):Oversees fundraising planning and implementation, including identifying resource requirements, researching funding sources, establishing strategies to approach funders, submitting proposals and administrating fundraising records and documentation.

 

	
4.6

	
Relationship between the parties

Neither party may bind the other in any way whatsoever to anyone, except in accordance with the provisions of this contract.

	
4.7

	
Representations and Warranties WOCHENG LIU

WOCHENG LIU represents and warrants to AOXIN TIANLI that:

 

	
a) 

	
He has the capacity required to undertake under this contract, such capacity was not limited by any commitment to another person;

 

	
b) 

	
He has the expertise and experience required to execute and complete the its obligations under this contract; 

 

	
c)  

	
He will make services efficient and professional manner, according to the rules generally accepted by industry;

	
4.8

	
Termination of Contract

Either party may terminate this contract at any time, upon presentation of a 60-day notice given to the other party. Amounts due and options purchases of shares will be delivered when calculated on a pro-rata to the time elapsed since the last payment or the last delivery of stock options.

	
5.

	
GENERAL PROVISIONS

Unless specific provision to the contrary in this Agreement, the following provisions apply.

	
5.1

	
Force Majeure

Neither party can be considered in default under this contract if the performance of its obligations in whole or in part is delayed or prevented by following a force majeure situation. Force majeure is an external event, unforeseeable, irresistible and it absolutely impossible to fulfill an obligation.

	
5.2

	
Severability

The possible illegality or invalidity of an article, a paragraph or provision (or part of an article, a paragraph or provision) does not in any way affect the legality of other items, paragraphs or provisions of this contract, nor the rest of this article, this paragraph or provision unless a contrary intention is evident in the text.

 

  

  

  

 

	
5.3

	
Notices

Any notice to a party is deemed to have been validly given if in writing and sent by registered or certified mail, by bailiff or by courier to such party at the address listed at the beginning of this contract or any other address that the party may indicate a similar notice to another party. A copy of any notice sent by mail must be sent by one mode of delivery mentioned above.

	
5.4

	
Titles

The headings used in this contract are only for reference and convenience only. They do not affect the meaning or scope of the provisions they designate.

	
5.5

	
No Waiver

The inertia, neglect or delay by any party to exercise any right or remedy under this Agreement shall in no way be construed as a waiver of such right or remedy.

	
5.6

	
Rights cumulative and not alternative

All the rights mentioned in this Agreement are cumulative and not alternative. The waiver of a right should not be construed as a waiver of any other right.

	
5.7

	
Totality and entire agreement

This contract represents the full and entire agreement between the parties. No statement, representation, promise or condition not contained in this agreement can and should be allowed to contradict, modify or affect in any manner whatsoever the terms thereof.

	
5.8

	
Contract Amendment

This contract may be amended only by a writing signed by all parties.

	
5.9

	
Gender and Number

All words and terms used in this agreement shall be interpreted as including the masculine and feminine and singular and plural as the context or meaning of this contract.

	
5.10

	
Assignable

Neither party may assign or otherwise transfer to any third party or of his rights in this contract without the prior written permission of the other party to that effect.

	
5.11

	
Computation of time

In computing any period fixed by the contract:

	
a)

	
the day that marks the starting point is not counted, but the terminal is;

	
b)

	
non-juridical days (Saturdays, Sundays and holidays) are counted;

	
c)

	
when the last day is not legal, the deadline is extended to the next juridical day.

 

  

  

  

 

	
5.12

	
Applicable Laws

This contract is subject to the laws of the People’s Republic of China.

	
5.13

	
Election of domicile

The parties agree to elect domicile in the judicial district of Wuhan P.R.China, and chose it as the appropriate district to hear any claim arising from the interpretation, application, and performance, the entry into force, validity and effect of this contract.

	
5.15

	
Copies

When initialed and signed by all parties, each copy of this contract shall be deemed an original, but these examples do not reflect all one and the same agreement.

	
5.16

	
Scope of Contract

This contract binds the parties and their successors, heirs and assigns, respectively.

	
5.17

	
Solidarity

If a party consists of two or more persons, they are forced and severally liable to the other party.

	
5.18

	
Time is of Essence

If a party must fulfill an obligation under this contract within a specified time, the passage of time will effectively be part of this notice.

	
6.

	
EFFECTIVE DATE OF CONTRACT

This Agreement shall enter into force June 1, 2016.

SIGNED BY THREE (2) copies,

IN THE CITY OF WUHAN, HUBEI PROVINCE, 

DATED June 1, 2016.

Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd.,

Hanying Li /s/

Hanying Li

Co-Chief Executive Officer

Wocheng Liu /s/

Wocheng LiuEXHIBIT 10.1

 

SHARE
EXCHANGE AGREEMENT

 

This
Agreement to Purchase (the “Agreement”) is entered into this 15th day of January 2016 by and between Nutriband Inc.,
a Nevada Corporation (the “Purchaser”), Nutriband Limited, an Ireland Corporation (the “Company”) and
Gareth Sheridan and/or his nominees (hereinafter referred to as “Seller”), the sole stockholder of the Company.

 

The
stockholders of Purchaser (“Stockholders”) wish to acquire 100% of the outstanding shares of the Company by way of
a Share Exchange whereby the Stockholders will acquire controlling interest in the Company, following which the Company will become
a wholly owned subsidiary of Purchaser.

 

THE
PARTIES AGREE AS FOLLOWS: 

 

		1.	Purchase
                                         of Shares. Subject to the terms and conditions set forth herein, and that the
                                         Purchaser has a fully diluted, issued and outstanding share capital of 3,500,000
                                         common shares, the Purchaser shall acquire from the Seller all of the outstanding shares
                                         of the Company in exchange for a total of 500,000 restricted shares of common stock,
                                         par value $0.001 per share, of the Purchaser, valued at US $1.00 per share (the “Shares”).
                                         At the closing, the Seller shall deliver to the Purchaser 100% of the outstanding shares
                                         of the Company to Purchaser in exchange for the issuance of the Shares by Purchaser to
                                         Seller.

 

		2.	Representations
                                         and Warranties of Purchaser. The Purchaser represents and warrants to Seller
                                         as follows:

 

		(a)	All
                                         Shares being delivered are free and clear of all claims, liens, and encumbrances, and
                                         have been duly and validly issued and are fully paid and non-assessable;

 

		(b)	Neither
                                         the execution of this Agreement nor the consummation of the transactions contemplated
                                         hereby will constitute a violation of, conflict with or constitute a default under any
                                         contract, commitment, agreement, understanding or restriction of any kind to which the
                                         Purchaser is bound;

 

		(c)	No
                                         person has any agreement or option or a right for the purchase of any of the Shares;

 

		(d)	No
                                         person holds any option, warrant, or other security of any nature which is convertible
                                         into one or more shares in the capital stock of the Company; and

 

		(e)	That
                                         on the date of the completion of the transfer of Shares pursuant to this Agreement there
                                         will be no shareholders' agreements or other agreements.

 

		(f)	The
                                         Purchaser has no outstanding or contingent liabilities and will incur no liabilities
                                         from the date hereof until the completion of transfer of Shares pursuant to this Agreement.

 

		3.	Representations
                                         of the Seller and the Company. Seller and the Company represent and warrant to
                                         Purchaser as follows:

 

		(a)	The
                                         shares of the Company being delivered represent all of the outstanding shares of the
                                         Company, have been duly and validly issued and are fully paid and non-assessable and
                                         are free and clear of all claims, liens, and encumbrances;

 

		(b)	No
                                         person has any agreement or option or a right for the purchase of any of the shares of
                                         the Company; and

 

		(c)	Neither
                                         the execution of this Agreement nor the consummation of the transactions contemplated
                                         hereby will constitute a violation of, conflict with or constitute a default under any
                                         contract, commitment, agreement, understanding or restriction of any kind to which the
                                         Seller or the Company is bound.

 

     

     

    

 

		4.	The
                                         Closing. At the closing Purchaser shall issue and deliver to Seller the
                                         Shares, constituting 500,000 restricted shares of common stock of Purchaser, in
                                         exchange for the assignment and sale to Purchaser of 100% of the shares of Nutriband
                                         Limited.

 

		5.	Conditions
                                         precedent to the obligations of Seller. The obligation of Seller to complete
                                         the transaction herein contemplated is subject to the fulfillment of each of the following
                                         conditions at the times stipulated:

 

		(a)	that
                                         the representations and warranties contained in Article 2 above shall be true and correct
                                         in all material respects at the closing except as may be in writing disclosed to and
                                         approved by Purchaser;

 

		(b)	that
                                         prior to the closing, the Company shall not have experienced any event or condition or
                                         have taken any action of any character adversely affecting the assets or the undertaking
                                         of the Company so as materially to reduce the value of the Shares to Purchaser;

 

		(c)	that
                                         from the date of this Agreement up to the Closing Date, Purchaser and its authorized
                                         representatives will be afforded full access during normal business hours to all assets,
                                         books, contracts, commitments, records of the Company and will be furnished with such
                                         copies (certified if requested) thereof and other information as Purchaser may reasonably
                                         request;

 

The
foregoing conditions of this Article are inserted for the exclusive benefit of the Purchaser and may be waived by Purchase by
notice in whole or in part at any time prior to the closing. Any condition so waived shall be deemed to have been fulfilled on
the date of such notice.

 

		6.	Amendment
                                         and Modification. Subject to applicable law, this Agreement may be amended, modified
                                         or supplemented only by a written agreement signed by Seller, Purchaser and the Company.

 

		7.	Entire
                                         Agreement. This Agreement contains the entire understanding between and among
                                         the parties and supersedes any prior understandings and agreements among them respecting
                                         the subject matter of this Agreement.

 

		8.	Agreement
                                         Binding. This Agreement shall be binding upon successors and assigns of the parties
                                         hereto.

 

		9.	Attorneys
                                         Fees. In the event an arbitration, suit or action is brought by any party under
                                         this Agreement to enforce any of its terms, or any appeal there from, it is agreed that
                                         the prevailing party shall be entitled to reasonable attorneys' fees to be fixed by the
                                         arbitrator, trial court and/or appellate court.

 

		10.	Governing
                                         Law. The parties agree that any litigation relating directly or indirectly to
                                         this Agreement must be brought before and determined by a court of competent jurisdiction
                                         within the State of Nevada,

 

    	 	2	 

     

    

 

		11.	Arbitration
                                         Legal Proceedings and Venue. The parties will attempt through good faith negotiation
                                         to resolve their disputes. The term “disputes” includes, without limitation,
                                         any disagreements between the parties concerning the existence, formation and interpretation
                                         of this Agreement and their obligations there under. If the parties hereto are unable
                                         to resolve their disputes by negotiation, they shall attempt to resolve their disputes
                                         through modification. If mediation proves unsuccessful, either party may commence arbitration
                                         by sending a written notice of arbitration to the other party. The notice will state
                                         the dispute with particularity. As part of the arbitrators' decision, the arbitrator
                                         may allocate the cost of arbitration, including fees of attorneys and experts, as the
                                         arbitrator deems fair and equitable in light of all relevant circumstances. The arbitration
                                         hearing shall be commenced thirty (30) days following the date of delivery of notice
                                         of arbitration to the other party, or as soon thereafter as set by the arbitrator(s).

 

		12.	Further
                                         Action. The parties hereto shall execute and deliver all documents, provide all
                                         information and take or forbear from all such action as may be necessary or achieve the
                                         purpose of this Agreement.

 

		13.	Confidentiality.
                                          The parties shall keep this Agreement and its terms confidential.  In the
                                         event that the transactions contemplated by this Agreement are not consummated for any
                                         reason whatsoever, the parties hereto agree not to disclose or use any confidential information
                                         they may have concerning the affairs of other parties, except for information which is
                                         required by law to be disclosed. Confidential information includes, but is not limited
                                         to, financial records, surveys, reports, plans, proposals, financial information, personnel
                                         contracts, stock ownership, liabilities and litigation.

 

		14.	Costs,
                                         Expenses and Legal Fees.  Whether or not the transactions hereby are consummated,
                                         each party hereto shall bear its own costs and expenses except the auditing fees that
                                         will be paid by the Purchaser. 

 

		15.	Counterparts
                                         and Facsimile Signatures. This Agreement may be executed in one or more counterparts,
                                         each of which shall be deemed an original, but all of which together shall constitute
                                         one and the same instrument, for purposes of this Agreement, facsimile signatures shall
                                         be treated as originals until such a time that applicable pages bearing non facsimile
                                         signatures are obtained from the relevant party or parties.

 

    	 	3	 

     

    

 

IN
WITNESS WHEREOF, the parties have set their hands this 15th day of January 2016.

 

Nutriband
Inc.

 

	Per:		 
	 	Authorized
    Signatory	 
	 

        Print:
	 

        Gareth
        Sheridan
	 
	 	Gareth
Sheridan, President and CEO	 
	 	Address:

         

        1
        Minnowbrook
	 
	 	 	 
	 	Terenure
    Road West, Dublin 6W	 

 

Nutriband
Limited

 

	Per:		 
	 	Authorized
    Signatory	 
	 	 	 
	Print:	Gareth
Sheridan
	 

 

 

4

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