Document:

Exhibit 10.1

 

NOTE
PURCHASE AGREEMENT 

 

THIS
NOTE PURCHASE AGREEMENT (the “Purchase Agreement”) dated as of 28th April 2021, is between Sharing
Economy International Inc., a Nevada corporation (the “Company”), and PYRAM LC ARCHITECTURE LIMITED (the “Purchaser”).

 

RECITALS

 

A.
The Company has requested that the Purchaser purchase a convertible promissory note in the form attached hereto as Exhibit A (the
“Note”) for a purchase price of US$ 38,462 on the terms and conditions set forth herein.

 

B.
The Purchaser has agreed to purchase the Note on the terms and conditions set forth therein.

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants contained in this Purchase Agreement, the parties hereto, intending
to be legally bound, agree as follows:

 

ARTICLE
I DEFINITIONS 

 

1.01
Defined Terms.

 

As
used in this Purchase Agreement and to the extent not otherwise defined herein, the following terms shall have the following meanings:

 

“Affiliate”
means with respect to the Purchaser, another entity that controls, is controlled by, or is under common control with the Purchaser, for
so long as such control exists. For purposes of this definition only, “control” shall mean beneficial ownership (direct or
indirect) of at least fifty percent (50%) of the equity securities of an entity entitled to vote in the election of directors (or,
in the case of an entity that is not a corporation, in the election of the corresponding managing authority).

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such
securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is
at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

     

     

    

 

“Material
Adverse Effect” means a material adverse effect on the business, operations, property or financial condition of the Company.

 

“Person”
means an individual, partnership, corporation, business trust, joint stock company, limited liability company, trust, unincorporated
association, joint venture, governmental authority or other entity of whatever nature.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Subsidiary”
means any subsidiary of the Company, and shall, where applicable, also include any direct or indirect subsidiary of the Company formed
or acquired after the date hereof.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

ARTICLE
II PURCHASE OF CONVERTIBLE NOTE

 

2.01
Purchase and Sale of the Note by the Purchaser. Subject to and upon the terms and conditions set forth in this Purchase Agreement
and in reliance on the representations and warranties set forth herein, the Company agrees to issue and sell to Purchaser, and Purchaser
agrees to purchase from the Company, at the Closing referred to in Section 2.02 below, a Note made by the Company in favor of such Purchaser
in the principal amount of US$50,000.

 

2.02
The Closing. The sale and purchase of the Note under this Purchase Agreement shall be made pursuant to a closing on or before 29th
November 2019 and at such closing, the Company will deliver to Purchaser the Note against payment of the purchase price therefor
(the “Closing” and the date thereof, the “Closing Date”). The parties agree that the delivery of
this Purchase Agreement and any other documents at the Closing may be completed by means of an exchange of facsimile (or email) signatures
with original copies to follow by mail or courier service.

 

ARTICLE
III REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The
Company hereby makes the following representations and warranties to the Purchaser as of the date hereof and as of the Closing.

 

3.01
Incorporation and Good Standing. The Company is a corporation duly incorporated, validly existing and in good standing under the
laws of the State of Nevada. The Company has the requisite power and authority to own, lease and operate its properties and to carry
on its business as now being conducted or as proposed to be conducted.

 

3.02
Corporate Power and Authority; Authorization; Enforceability. All corporate action on the part of the Company necessary for the authorization
of this Purchase Agreement, the Note and the performance of all obligations of the Company hereunder and thereunder at the Closing has
been taken or will be taken prior to the Closing. This Purchase Agreement has been, and the Note will be, when executed and delivered
at the Closing, duly executed and delivered by the Company. This Purchase Agreement constitutes, and the Note when executed and delivered
at the Closing, will constitute valid and binding obligations of the Company enforceable in accordance with their terms, except as limited
by (a) applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’
rights, and (b) general principles of equity that restrict the availability of equitable remedies.

 

    2

     

    

 

3.03
No Conflict. Neither the authorization, execution, delivery and performance of this Purchase Agreement, the consummation of the transactions
contemplated hereby, or the sale, issuance and delivery of the Note, or any of the shares of capital stock of the Company which may be
issued pursuant to the terms of the Note will conflict with or result in a breach of or default under (or with due notice or lapse of
time or both would result in a default under) the Company’s Articles of Incorporation or by-laws, as amended or any statute, law,
rule, regulation, judgment, decree, writ, injunction, order or award of any arbitrator, court or governmental authority.

 

3.04
Capitalization. The Company has not issued any capital stock since its most recently filed periodic report under the Exchange Act,
other than pursuant to the exercise of employee stock options under the Company’s stock option plans, the issuance of shares of
Common Stock to employees pursuant to the Company’s employee stock purchase plans and pursuant to the conversion and/or exercise
of Common Stock Equivalents outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person has
any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated
by the Purchase Agreement. Except as a result of the purchase and sale of the Note, there are no outstanding options, warrants, scrip
rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible
into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire any shares of Common Stock or the
capital stock of any Subsidiary, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is
or may become bound to issue additional shares of Common Stock or Common Stock Equivalents or capital stock of any Subsidiary. The issuance
and sale of the Note will not obligate the Company or any Subsidiary to issue shares of Common Stock or other securities to any Person
(other than the Purchaser) and will not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange
or reset price under any of such securities. There are no outstanding securities or instruments of the Company or any Subsidiary that
contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company
or any Subsidiary is or may become bound to redeem a security of the Company or such Subsidiary. The Company does not have any stock
appreciation rights or “phantom stock” plans or any similar plan or agreement. All of the outstanding shares of capital stock
of the Company are duly authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and
state securities laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe
for or purchase securities. No further approval or authorization of any stockholder, the Board of Directors or others is required for
the issuance and sale of the Note.

 

3.05
Financial Statements. The Company is current with all reports, schedules, forms, statements and other documents required to be filed
by the Company under the Securities Act and the Exchange Act, (the “SEC Reports”). As of their respective dates, the
SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and none
of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be
stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading. The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting
requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial
statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis
during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes
thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material
respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations
and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.

 

    3

     

    

 

3.06
Absence of Undisclosed Liabilities. Since the date of the latest audited financial statements included within the SEC Reports, except
as specifically disclosed in a subsequent SEC Report filed prior to the date hereof: (i) there has been no event, occurrence or development
that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities
(contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with
past practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or disclosed
in filings made with the Commission, (iii) the Company has not altered its method of accounting, and (iv) the Company has not declared
or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase
or redeem any shares of its capital stock. The Company does not have pending before the Commission any request for confidential treatment
of information. Except for the issuance of the Note contemplated by this Purchase Agreement, no event, liability, fact, circumstance,
occurrence or development has occurred or exists, or is reasonably expected to occur or exist, with respect to the Company or its Subsidiaries
or their respective businesses, properties, operations, assets or financial condition, that would be required to be disclosed by the
Company under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed
at least one (1) Trading Day prior to the date that this representation is made.

 

3.07
Litigation. There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the
Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator,
governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which (i) adversely affects or challenges the legality, validity or enforceability of any of the Purchase Agreement or the Note or (ii)
could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. Neither the Company
nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or
liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge of
the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former
director or officer of the Company. The Commission has not issued any stop order or other order suspending the effectiveness of any registration
statement filed by the Company or any Subsidiary under the Exchange Act or the Securities Act.

 

3.08
No Broker. The Company has no contract, arrangement or understanding with any broker, finder, agent, financial advisor or other intermediary
with respect to the transactions contemplated by this Purchase Agreement.

 

    4

     

    

 

3.09
Compliance. Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has
not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has
the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan
or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether
or not such default or violation has been waived), (ii) is in violation of any judgment, decree, or order of any court, arbitrator or
other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority,
including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health
and safety, product quality and safety and employment and labor matters, except in each case as could not have or reasonably be expected
to result in a Material Adverse Effect.

 

3.10
Listing and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and
the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration
of the Common Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating
such registration. The Company is, and has no reason to believe that it will not continue to be, in compliance with all such listing
and maintenance requirements.

 

3.11
Tax Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material
Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all
foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid
all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns,
reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for
periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount
claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis
for any such claim.

 

ARTICLE
IV REPRESENTATIONS AND WARRANTIES OF THE PURCHASER 

 

Purchaser
hereby represents and warrants to the Company as follows:

 

4.01
Authorization. The execution, delivery and performance by Purchaser of this Purchase Agreement and the Note have been duly authorized
by all requisite corporate, partnership or other action on the part of Purchaser. This Purchase Agreement and the Note to which Purchaser
is a party have been duly executed and delivered on behalf of Purchaser by a duly authorized representative of Purchaser and constitute
the valid and legally binding obligations of Purchaser enforceable against Purchaser in accordance with their respective terms, except
as such enforceability may be limited by bankruptcy, insolvency, reorganization and other laws affecting creditors’ rights generally
and by general equitable principles.

 

    5

     

    

 

4.02
Information. Purchaser has been furnished with or has had access to all information it has requested from the Company and has had
an opportunity to review the books and records of the Company and to discuss with management of the Company its business and financial
affairs and has generally such knowledge and experience in business and financial matters and with respect to investments in securities
of this nature so as to enable it to understand and evaluate the risks of such investment and form an investment decision with respect
thereto.

 

4.03
Own Account. The Purchaser understands that the Common Stock underlying the Note are “restricted securities” and have
not been registered under the Securities Act or any applicable state securities law and is making this investment for its own account
and not with a view to or for distributing or reselling such Common Stock or any part thereof in violation of the Securities Act, has
no present intention of distributing any of such Common Stock in violation of the Securities Act and has no direct or indirect arrangement
or understandings with any other persons to distribute or regarding the distribution of such Common Stock in violation of the Securities
Act.

 

4.04
Experience of Such Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Company, and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an
investment in the Company and, at the present time, is able to afford a complete loss of such investment.

 

4.05
General Solicitation. The Purchaser is not, to such Purchaser’s knowledge, purchasing the Note as a result of any advertisement,
article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television
or radio or presented at any seminar or any other general solicitation or general advertisement.

 

4.06
Purchaser Status. The Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction
in connection with any invitation to subscribe for the Note or any use of this Purchase Agreement, including (i) the legal requirements
within its jurisdiction for the purchase of the Note, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental
or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the
purchase, holding, redemption, sale, or transfer of the Note. The Purchaser’s subscription and payment for and continued beneficial
ownership of the Common Stock will not violate any applicable securities or other laws of the Purchaser’s jurisdiction.

 

    6

     

    

 

4.07
Regulation S Compliance. If the Purchaser is a non-U.S. Person (as defined in Regulation S promulgated under the Securities Act),
neither the Purchaser nor any person acting on its behalf has engaged, nor will engage, in any directed selling efforts to a U.S. Person
(as defined in Regulation S promulgated under the Securities Act) with respect to the Note and the Purchaser and any person acting on
its behalf has complied and will comply with the “offering restrictions” requirements of Regulation S. The transactions contemplated
by this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S. Person, and are not part of a plan
or scheme to evade the registration requirements of the Securities Act. Neither the Purchaser nor any person acting on its behalf has
undertaken or carried out any activity for the purpose of, or that could reasonably be expected to have the effect of, conditioning the
market in the United States, its territories or possessions, for the Note. The Purchaser agrees not to cause any advertisement of the
Note to be published in any newspaper or periodical or posted in any public place and not to issue any circular relating to the Note,
except such advertisements that include the statements required by Regulation S, and only offshore and not in the U.S. or its territories,
and only in compliance with any local applicable securities laws.

 

4.08
Accredited Investor. If the Purchaser is a U.S. Person, the Purchaser is an “accredited investor” within the meaning
set forth in Rule 501 under the Securities Act, is capable of evaluating the merits and risks of the transactions contemplated hereunder
and is able to bear the economic risks of its investment in the Note.

 

ARTICLE
V CONDITIONS 

 

5.01
Conditions to Purchaser’s Obligations at the Closing. Purchaser’s obligations under Article II of this Purchase Agreement
are subject to the satisfaction, at or prior to the Closing Date, of the following conditions:

 

(a)
Representations and Warranties True; Performance of Obligations. The representations and warranties made by the Company in Article
III hereof shall be true and correct in all material respects as of the Closing;

 

(b)
Legal Investment. On the Closing Date, the sale and issuance of the Note shall be legally permitted by all laws and regulations
to which Purchaser and the Company are subject;

 

(c)
Consents, Permits, and Waivers. The Company shall have obtained any and all consents, permits and waivers necessary or appropriate
for consummation of the transactions contemplated by this Purchase Agreement; and

 

(d)
Delivery of the Note. The Company shall have delivered the Note to Purchaser.

 

5.02
Conditions to Obligations of the Company. The Company’s obligation to issue and sell the Note is subject to the satisfaction,
at or prior to each Closing Date, of the following conditions:

 

(a)
Representations and Warranties True. The representations and warranties in Article IV made by Purchaser shall be true and correct
as of the Closing Date;

 

(b)
Legal Investment. On the Closing Date, the sale and issuance of the Note shall be legally permitted by all laws and regulations
to which Purchaser and the Company are subject;

 

(c)
Consents, Permits, and Waivers. The Company shall have obtained any and all consents, permits and waivers necessary or appropriate
for consummation of the transactions contemplated by this Purchase Agreement; and

 

(d)
Purchase Price Delivery. The Company shall have received from Purchaser in immediately available funds the principal amount of
the Note.

 

    7

     

    

 

ARTICLE
VI AFFIRMATIVE COVENANTS OF THE COMPANY 

 

For
so long as the Note is outstanding, the Company agrees to the following:

 

6.01
Payment of Notes. The Company will punctually pay or cause to be paid the principal of and interest on the Note at the times and
places and in the manner specified in the Note.

 

6.02
Reservation of Shares of Capital Stock. The Company agrees to take any and all action as is necessary or desirable to authorize,
reserve and issue the shares of the Company’s capital stock issuable upon conversion of the Note promptly upon a determination
of the terms of such securities.

 

ARTICLE
VII MISCELLANEOUS 

 

7.01
Amendments and Waivers. This Purchase Agreement and the Note may be amended, and any term or provision of this Purchase Agreement
and the Note may be waived (either generally or in a particular instance and either retroactively or prospectively) only upon the written
consent of the Company and the Purchaser.

 

7.02
No Stockholder Rights. Nothing contained in this Purchase Agreement or the Note shall be construed as conferring upon Purchaser the
right to vote or to consent or to receive notice as a stockholder in respect of meetings of stockholders for the election of directors
of the Company or any other matters or any rights whatsoever as a stockholder of the Company and (ii) no dividends shall be payable or
accrued in respect of the Note or the Common Stock obtainable thereunder, in both cases of (i) and (ii) until, and only to the extent
that, the Note shall have been duly converted into and/or exercised for Common Stock.

 

7.03
Successors and Assigns. This Purchase Agreement may not be assigned, conveyed or transferred without the prior written consent of
the Company. Subject to the foregoing, the rights and obligations of the Company and Purchaser under this Purchase Agreement shall be
binding upon and benefit their respective permitted successors, assigns, heirs, administrators and transferees. The terms and provisions
of this Purchase Agreement are for the sole benefit of the parties hereto and their respective permitted successors and assigns, and
are not intended to confer any third-party benefit on any other person.

 

7.04
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing
and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment as set forth on the signature pages attached hereto at or prior to 5:30 p.m.
(New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment as set forth on the signature pages attached hereto on a day that is not a
Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the
date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such
notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached
hereto. To the extent that any notice provided pursuant to any Transaction Document constitutes, or contains material, non-public information
regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a
Current Report on Form 8-K.

 

    8

     

    

 

7.05
Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of Purchaser, any right, remedy, power
or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights,
remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided
by law.

 

7.06
Payment of Fees, Expenses. Each of the parties hereto shall bear its own costs and expenses in connection with the transactions contemplated
hereunder.

 

7.07
Counterparts. This Purchase Agreement may be executed by one or more of the parties to this Purchase Agreement on any number of separate
counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

 

7.08
Severability. Any provision of this Purchase Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

7.09
Governing Law. This Purchase Agreement shall be construed and enforced in accordance with and governed by the State of New York,
without giving effect to the conflicts of law principles thereof.

 

    9

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Purchase Agreement to be duly executed and delivered by their proper and duly authorized
officers as of the day and year first above written.

 

	SHARING ECONOMY INTERNATIONAL INC.	 	Address for Notice:
	 	 	 
	By:	 	 	Email:carmen.lam@seii.com
	Name: 	Lam Ka Man	 	 
	Title: 	Chief Financial Officer	 	 

 

 

Name
of Purchaser: PYRAM LC ARCHITECTURE LIMITED

Signature of Authorized Signatory of Purchaser: /s/ Yeung Shuk Mei

Name
of Authorized Signatory: Yeung Shuk Mei

Title
of Authorized Signatory: Director

Email
Address of Authorized Signatory: lorraine.pyramarchitecture@gmail.com

Address
for Notice to Purchaser: REDHILL PENINSULA, HOUSE 74 CEDAR DRIVE, TAI TAM

,
HONG KONG

 

    10

     

    

 

EXHIBIT
A 

 

THIS
NOTE AND ANY SHARES ACQUIRED UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED
UNDER SUCH ACT OR PURSUANT TO AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

CONVERTIBLE
PROMISSORY NOTE

	 	 	 
	US$38,462	 	28th
     April 2021

 

FOR
VALUE RECEIVED, Sharing Economy International Inc., a Nevada corporation (the “Maker”), promises to pay to PYRAM LC
ARCHITECTURE LIMITED or its assigns (the “Holder”) the principal sum of US$38,462, together with interest on the unpaid
principal balance of this Note from time to time outstanding at the rate of one percent (12%) per annum until paid in full or converted
in accordance with the terms of the Note. Interest on this Note shall be computed on the basis of a year of 365 days for the actual number
of days elapsed and shall accrue, but not compound, daily. All payments by the Maker under this Note shall be in immediately available
funds.

 

1.
Conversion. On 28th October 2021, all of the outstanding principal and accrued interest under this Note (the “Outstanding
Amount”) will be converted into shares of common stock of the Company at a conversion price equal to 70% of the average of
past ten days closing price prior to 28th October 2021 (the “Conversion Date”).

 

2.
Repayment. The Company shall have the option, in its sole and absolute discretion, to repay the Outstanding Amount in full on
or before the Conversion Date.

 

3.
Events of Default. This Note shall become immediately due and payable without notice or demand upon the occurrence at any time
of any of the following events of default (individually, an “Event of Default” and collectively, “Events
of Default”):

 

(a)
the Maker files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law
for the relief of, or relating to, debtors, now or hereafter in effect, or seeks the appointment of a custodian, receiver, trustee (or
other similar official) of the Maker or all or any substantial portion of the Maker’s assets, or makes any assignment for the benefit
of creditors or takes any action in furtherance of any of the foregoing, or fails to generally pay its debts as they become due; or

 

(b)
an involuntary petition is filed, or any proceeding or case is commenced, against the Maker (unless such proceeding or case is dismissed
or discharged within 60 days of the filing or commencement thereof) under any bankruptcy, reorganization, arrangement, insolvency, adjustment
of debt, liquidation or moratorium statute now or hereafter in effect, or a custodian, receiver, trustee, assignee for the benefit of
creditors (or other similar official) is applied or appointed for the Maker or to take possession, custody or control of any property
of the Maker, or an order for relief is entered against the Maker in any of the foregoing.

 

Upon
the occurrence of an Event of Default, the Holder shall have then, or at any time thereafter, all of the rights and remedies afforded
creditors generally by the applicable federal laws or the laws of the State of New York.

 

    11

     

    

 

4.
Miscellaneous.

 

(a)
All payments by the Maker under this Note shall be made without set-off or counterclaim and be free and clear and without any deduction
or withholding for any taxes or fees of any nature whatever, unless the obligation to make such deduction or withholding is imposed by
law.

 

(b)
No delay or omission on the part of the Holder in exercising any right under this Note shall operate as a waiver of such right or of
any other right of the Holder, nor shall any delay, omission or waiver on anyone occasion be deemed a bar to or waiver of the same or
any other right on any future occasion.

 

(c)
The Maker and every endorser of this Note, regardless of the time, order or place of signing, hereby waives presentment, demand, protest
and notices of every kind and assents to any permitted extension of the time of payment and to the addition or release of any other party
primarily or secondarily liable hereunder.

 

(d)
Any notices, requests and other communications hereunder shall be delivered in accordance with the terms of the Note Purchase Agreement.

 

(e)
The Holder agrees that no director or officer of the Maker shall have any personal liability for the repayment of this Note.

 

(f)
This Note may not be amended or modified except by an instrument executed by the Maker and the Holder.

 

(g)
Until the conversion of this Note, the Holder shall not have or exercise any rights by virtue hereof as a member or stockholder of the
Maker.

 

(h)
All rights and obligations hereunder shall be governed by the laws of the State of New York (without giving effect to principles of conflicts
or choices of law).

 

	SHARING ECONOMY INTERNATIONAL INC.	 
	 	 
	By:	/s/ Lam
    Ka Man	 
	Name:	Lam Ka Man	 
	Title: 	Chief Financial Officer	 

 

    12

     

    

 

WIRE
TRANSFER INSTRUCTIONS:

 

Fund
in US Dollars:

 

	Bank	Name: The Hongkong and Shanghai Banking Corporation Limited

 

Bank
Branch:

 

	Bank Address:	1 Queen’s Road, Central, Hong Kong

 

Account
Name: Sharing Economy Investment Limited

 

Account
Number: 456-653757-838

 

Routing/ABA
Number (Domestic Wires):

 

Swift
Code (Foreign Wire): HSBCHKHHHKH

 

Reference:
Sharing Economy International Inc Note Purchase

 

 

13Document

Exhibit 32.1

April 27, 2021

Patricia Mount
[Address]
[Address]

Dear Trisha, 

This letter agreement and release (the “Agreement”) confirms the agreement entered into between you and your Employer regarding the termination of your employment effective March 31, 2021 (“Termination Date”) and explains the package of separation compensation and benefits that has been specially developed for you in consideration of a fully bargained for release and settlement of any and all claims that you have presently, may have or have had in the past arising from your employment with and termination of your employment from the Employer up to and including the date you execute this Agreement.  Additionally, pursuant to this Agreement, you are releasing all claims against the Company.  For purposes of this Agreement, the term “Employer” shall mean Element Solutions Inc.  The term “Company” shall mean the Employer and any of its direct or indirect parent or subsidiary corporations or companies, and any of its or their affiliates, divisions, and business units. “Effective Date” is defined in Section 15.  

1.     CONSIDERATION IN SETTLEMENT. The consideration provided to you under this Agreement is not required under the Employer's policies or otherwise, except as expressly noted, and you acknowledge that you know of no circumstances other than you agreeing to the terms of this Agreement which would require the Employer to provide such consideration. You acknowledge that no representations of any kind have been made by the Employer to induce your execution of this Agreement and that the only representations made to you in order to obtain your consent to this Agreement are as stated herein. The fact that the Employer is offering to make these payments to you on these terms and conditions imposes no obligation whatsoever on the Employer or the Company to offer to pay any amounts to any employee whose employment is terminated with the Employer or the Company now or in the future. Accordingly, if you execute (and do not revoke) this Agreement you will receive:
(a)    COBRA.  To the extent provided by the federal Consolidated Omnibus Budget Reconciliation Act of 1985 law, or if applicable, state insurance laws (collectively “COBRA”), and by the Employer’s current group health insurance policies, you will be eligible to continue your group health insurance benefits after the Termination Date at your own expense for up to 18 months at a monthly premium equal to 102% of actual plan cost.  Within the timing required by law, you will be provided a separate notice describing your COBRA rights and obligations with respect to continued group health insurance under the applicable state and/or federal insurance laws.   Specific costs and details will be provided to you on a timely basis. 
(b)     LONG-TERM INCENTIVE EQUITY AWARDS.  During your employment, you were a participant in the Element Solutions Inc long-term incentive program (“LTI”), pursuant to which you received (i) a Performance-Based Restricted Stock Award Agreement dated February 20, 2019 (“Award #1”),  (ii) a Performance-Based Restricted Stock Award Agreement dated February 19, 2020 (“Award #2”), (iii) an Incentive Stock Option Award Agreement dated February 20, 2019 (“Award #3”), (iv) an Incentive Stock Option Award Agreement dated February 19, 2020 (“Award #4”), and (v) a Non-Qualified Stock Option Award Agreement dated February 19, 2020 (“Award #5”), in each case representing LTI awards under the Element Solutions Inc (f/k/a) Platform Specialty Products Corporation Amended and Restated 2013 Incentive Compensation Plan (the “Plan”).   (Award #1, Award #2, Award #3, Award #4, and Award #5 are referred to herein each as an “Award” and collectively as the “Awards”.)   Within 60 days after the Effective Date, each of Award #1 and Award #2 will be vestedat target, even though you will no longer be a full-time, active employee and the restrictions would not otherwise have lapsed.   Subject to achieving the respective time vesting criteria set forth in Award #3, Award #4, and Award #5, you will continue to be eligible to receive the vesting of the options from such Awards if, as and when such Awards otherwise would vest if you were actively employed, even though you will not be a full-time, active employee on the date the Awards would otherwise vest. The Awards will otherwise continue to be governed by and subject to the 
1

terms and conditions of the applicable award agreement and the Plan.  Any remaining unvested equity awards not addressed in this paragraph will be forfeited upon termination.  
(c)    NO MITIGATION.  Nothing in this Section 1 or any other provision of this Agreement shall be deemed to require you to mitigate the cost of severance compensation and benefits provided hereunder.
2.    OTHER BENEFIT PLANS.  Effective as of the Termination Date, you acknowledge that you are no longer eligible to participate in any of the Employer’s or the Company’s other benefit plans including, but not limited to the Employer’s 401(k) savings plan (the "401(k) Plan").  
3.    VACATION AND PAID TIME OFF (“PTO”).  As of the Termination Date, no further vacation or PTO shall accrue.  An amount equal to 24.6 days, representing your remaining accrued and unused vacation based on your base salary in effect at the time of your termination was paid in a lump sum on the next pay date following your Termination Date, subject to standard payroll deductions and withholdings.  This amount represents payment to you in lieu of any and all accrued but unused vacation or PTO time you may still have.  Those payments are not contingent on entering into this Agreement.    
4.     ELECTION.  If you decide not to execute this Agreement, you may elect to receive the Severance Pay and/or benefits defined in any employment contract or other written agreement between you and the Employer which may be in effect on your Termination Date and covers your separation with the Employer, if any.  The acceptance of Severance Pay and benefits available under this Agreement shall constitute a waiver of any Severance Pay you would have been entitled to under any other agreement.   
5.    RETURN OF EMPLOYER AND COMPANY PROPERTY.  You acknowledge that prior to and as a condition of your receipt of any Severance Pay and/or consideration as described in this Agreement, you will return all Employer and Company documents (and all copies thereof) and other property, which is in your possession.  Such property includes, but is not limited to office keys, credit cards, computers, computer discs and software, printers, fax machines, cellular phones, all documents, files and other information of the Employer and Company whether or not the property meets the definition of “Confidential Information” or “Trade Secrets” under any applicable policy of the Company, agreement between you and the Company or applicable laws, and other related Employer and Company books, equipment or records.  
6.    REIMBURSEMENT OF EXPENSES.  The Employer shall reimburse you for any and all business expenses for which you are entitled to reimbursement under the Employer’s expense reimbursement policies and procedures in effect on the date hereof.  All expenses for reimbursement shall be submitted within thirty (30) days from the date of this Agreement, and the Employer shall process such expenses promptly.  Any expenses submitted after this thirty (30) day period will not be paid.
7.    NON-DUPLICATION OF BENEFITS.  The amount of severance payments hereunder shall be reduced on a dollar for dollar basis by any disability, severance, separation or termination pay benefits that the Employer pays or is required to pay you through insurance or otherwise under any plan or contract or under any federal or state law; provided, however, that the severance payment shall never be less than two (2) weeks' base salary, and such amount is acknowledged to be full and adequate consideration for this Agreement.
8.    GENERAL RELEASE OF CLAIMS. You agree to release and hold harmless (on behalf of yourself and your family, heirs, executors, successors and assigns) now and forever, the Employer and the Company and any of the foregoing entities’ past, present or future parent and subsidiary corporations, affiliates, divisions, successors and assigns (whether or not incorporated) and any of its past, present or future employees, agents, assigns, officers, directors, shareholders and attorneys whether acting in their individual or representative capacity (the “Released Parties”) from and waive any claim that you have presently, may have or have had in the past, known or unknown, against the Released Parties upon or by reason of any matter, cause or thing whatsoever, from the beginning of the world through the date you execute this Agreement, including, without limitation, all claims arising from your employment with, or termination of employment from, the Employer and the Company, or otherwise, including but not limited to, any and all claims brought or that could be brought pursuant to or under any federal, state or local statute (including, without limitation, the Age Discrimination in Employment Act of 1967, the 1990 Older Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, the Equal Pay Act, the Americans with Disabilities Act of 1990, the Employee Retirement Income Security Act of 1974, the Family and Medical Leave Act of 1993, the Fair Labor Standards Act, the Worker Adjustment and 
2

Retraining Notification Act, as well as any state or local equivalents of any of the foregoing, and all other applicable statutes regulating the terms and conditions of your employment), any regulation or ordinance, under the common law or in equity (including any claims for wrongful discharge, slander, libel or otherwise), or under any policy, agreement, understanding or promise, written or oral, formal or informal, between the Released Parties and you, including, without limitation, any claim you might have for severance, termination or severance pay pursuant to the Employer's severance policies or practices as from time to time in effect, or otherwise (the “Released Claims”).
You expressly waive and relinquish all rights and benefits under any section of any law or legal principle of similar effect in any other jurisdiction with respect to your release of any unknown or unsuspected claims herein. 
Notwithstanding the foregoing, the following are not included in the Released Claims (the “Excluded Claims”): (i) any rights or claims which are not waivable as a matter of law; and (ii) any claims for breach of this Agreement.  You represent and warrant that, other than the Excluded Claims, you are not aware of any claims you have or might have against any of the Released Parties that are not included in the Released Claims.
9.       NO PENDING ACTION/COVENANT NOT TO SUE. Except to enforce the terms of this Agreement and as provided below, you agree and covenant not to file any suit or other legal action against the Released Parties with regard to any of the Released Claims.   You further represent and warrant that as of the date you sign this Agreement no suits, complaints, charges, or other proceedings are pending against the Released Parties before any court, administrative agency, commission or other forum relating directly or indirectly to the Released Claims.  
NOTHING IN THIS AGREEMENT IS INTENDED IN ANY WAY TO LIMIT YOUR RIGHT OR ABILITY TO INITIATE OR PARTICIPATE IN ANY INVESTIGATION OR PROCEEDING CONDUCTED BY ANY FEDERAL, STATE OR LOCAL AGENCY, INCLUDING THE U.S. EQUAL EMPLOYMENT OPPORTUNITY COMMISSION (“EEOC”).  NOTWITHSTANDING THE FOREGOING, YOU AGREE TO WAIVE YOUR RIGHT TO RECOVER MONETARY DAMAGES IN ANY SUIT, COMPLAINT, CHARGE OR OTHER PROCEEDING FILED BY YOU OR ANYONE ELSE ON YOUR BEHALF.
10.    ADEA WAIVER.  You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA (the “ADEA Waiver”), and that the consideration given for this ADEA Waiver is in addition to anything of value to which you are already entitled.  You further acknowledge that you have been advised, as required by the ADEA, that: (i) your ADEA Waiver does not apply to any rights or claims that may arise after the date that you sign this Agreement; (ii) you should consult with an attorney prior to signing this Agreement (although you may choose voluntarily not to do so); (iii) you have twenty-one (21) days to consider this Agreement (although you may choose voluntarily to sign it earlier); (iv) you have seven (7) days following the date you sign this Agreement to revoke the ADEA Waiver (by providing written notice of your revocation to the Company; and (v) this ADEA Waiver will not be effective until the date upon which the revocation period has expired, which will be the eighth day after the date that this Agreement is signed by you provided that you do not revoke it (the “Effective Date’).  You further acknowledge that the Employer has provided you with the ADEA Disclosure information (under Title 29 USC Section 626(f)(1)(H)).
11.      FUTURE ASSISTANCE.  Upon request, you agree to provide such assistance and cooperation in any matter relating to your expertise or experience as the Employer may reasonably request including your attendance and truthful testimony where deemed appropriate by the Employer, to the Employer's defense or prosecution of any existing or future claims or litigations of which the Employer identifies you as potentially having knowledge.  The Employer shall pay you reasonable costs and expenses in connection therewith.  
12.    RIGHT TO COUNSEL.  The Employer hereby advises you that you should consult with an attorney prior to execution of this Agreement.  You acknowledge that you understand it is in your best interest to have this document reviewed by an attorney of your own choosing and at your own expense, and you hereby acknowledge that you have been afforded not less than twenty-one (21) days during which to consider this Agreement and to have it reviewed by your attorney.  To the extent that you decide to execute this Agreement prior to the expiration of the twenty-one (21) day review period, such execution shall constitute a voluntary and knowing valid waiver of such review period.
13.    FREE WILL.    You are entering into this Agreement of your own free will and without coercion, intimidation or threat of retaliation.  You acknowledge and agree that the Employer and/or the Company 
3

have not exerted any undue pressure or influence on you in this regard.  You acknowledge that you have had reasonable time to determine whether entering into this Agreement is in your best interest and you have read and fully understand the terms set forth in this Agreement.  You understand that if you request additional time to review the provisions of this Agreement, a reasonable extension of time will be granted.
14.    BREACH OF AGREEMENT/PENALTIES.     If you initiate or participate in any lawsuit or other legal action in violation of this Agreement, or if you fail to abide by any of the terms of this Agreement, except to the extent prohibited by law, the Employer may reclaim any amounts paid under this Agreement, without waiving the release granted herein, and terminate any benefit or payments that are due under the Agreement, in addition to any other remedies it may have.  In addition, you shall pay the Employer all of its actual attorneys' fees and costs incurred resulting from, or incident to, such violation and you agree to pay such fees and costs within thirty (30) days of the Employer's written demand.
15.    REVOCATION AND EFFECTIVE DATE.  This Agreement may be revoked by you within the seven (7) days after the date on which you sign this Agreement and it is received by the Employer.  You understand that this Agreement shall not become binding or enforceable until this seven (7) day period has expired without you having so revoked. This Agreement shall become effective on the eighth (8th) day following your signing of this Agreement (the "Effective Date") provided that you have not revoked the Agreement prior to such date.  Any such revocation must be made in a signed letter executed by you and received by the Employer at the following address no later than 5 p.m. Eastern Time on the seventh day after you have executed this Agreement: Element Solutions Inc, 500 East Broward Blvd - Suite 1860, Fort Lauderdale, FL 33394, Attention: General Counsel. You understand that if you revoke this Agreement, this Agreement will not be effective or enforceable by you and you will not be entitled to any payments or benefits hereunder.  You understand and agree that you will not receive the payments and benefits set forth in this Agreement, except for your execution of this Agreement and the fulfillment of your promises set forth herein. Any notice to be given under this Agreement (other than the revocation, if any, set forth above) shall be given in writing and delivered either personally or sent by certified mail to the Employer c/o General Counsel at the above address and to you at your address in the Employer's records or such other address as you may provide to Employer in writing in advance in accordance with this Section 15.
16.    CONFIDENTIALITY.  In addition to any agreement related to trade secrets, confidential information and/or work products previously executed by you, including, you will not at any time divulge to any other entity or person any information acquired by you concerning the financial affairs of the Employer or the Company, its affiliates and subsidiaries, its officers, directors, employees and/or shareholders or the Employer’s or the Company’s business processes or methods or research, development or marketing programs or plans, any other of its trade secrets, any information regarding personal matters of any directors, officers, shareholders, employees or agents of the Employer or the Company or their respective family members, any information concerning this Agreement or the terms thereof or any information concerning the circumstances of your employment with and the termination of your employment from the Employer or the Company, or any information regarding discussions related to any of the foregoing or make, write, publish, produce or in any way participate in placing into the public domain any statement, opinion or information with respect to any of the foregoing or which reflects adversely upon or would reasonably impair the reputation or best interests of the Employer or the Company or any of its directors, officers, employees or agents or their respective family members.  Confidential information does not include (i) information which is required to be disclosed by court order, subpoena or other judicial process, (ii) information regarding your job responsibilities during your employment with the Employer to prospective employers in connection with an application for employment, (iii) information regarding the financial terms of this Agreement to your spouse or your tax advisor for purposes of obtaining tax advice provided that such persons are made aware of and agree to comply with the confidentiality obligation, or (iv) information which is necessary to be disclosed to your attorney to determine whether you should enter into this Agreement.
The foregoing prohibitions shall include, without limitation, directly or indirectly publishing (or causing, participating in, assisting or providing any statement, opinion or information in connection with the publication of) any diary, memoir, letter, story, photograph, interview, article, essay, account or description (whether fictionalized or not) concerning any of the foregoing, publication being deemed to include any presentation or reproduction of any written, verbal or visual material in any communication medium, including any book, magazine, newspaper, theatrical production or movie, or television or radio programming or commercial or any posting on the Internet.  In addition to any and all other remedies available to the Employer for any violation of this Section, you agree to 
4

immediately remit and disgorge to the Employer any and all payments paid or payable to you in connection with or as a result of engaging in any of the above acts. 
Nothing herein is intended to interfere with any disclosure right protected by law.
17.    DISCLOSURE OF CONFIDENTIAL INFORMATION.  In the event that you are required to make disclosure under any court order, subpoena or other judicial process, you will cooperate with the Employer and provide the Employer with prompt written notice, take all steps requested by the Employer to defend against the compulsory disclosure and permit the Employer to participate with counsel of its choice in any proceeding relating to the compulsory disclosure.  You acknowledge that all information, the disclosure of which is prohibited by this Agreement, is of a confidential and proprietary character and of great value to the Employer and/or the Company.  You also acknowledge that, to the extent you had access to and became acquainted with confidential information of the Employer and/or the Company, any subsequent employment with a competitor of the Employer and/or the Company would inevitably result in a prohibited disclosure of confidential information.
18.    COVENANT AGAINST COMPETITION, SOLICITATION.  In addition to any agreement related to competition previously executed by you, for a period of two (2) years after the Termination Date (the “Severance Period”), you shall not, without the prior written consent of the Employer’s Chief Executive Officer, directly or indirectly own, manage, control or participate in the ownership, management, or control of, or be employed or engaged by or otherwise affiliated or associated with, any other corporation, partnership, proprietorship, firm, association or other business entity, or otherwise engage in competition with, perform services for, own an interest in, or otherwise participate in, a “Competitive Business”.  This restriction of competition is limited to provision of the same or similar services as those performed by you during your employment with the Employer or any of its direct and indirect subsidiary companies.  Notwithstanding the foregoing, this provision shall not prohibit you from performing any services for any entity if such services are performed outside the United States unless those services were provided outside the United States during the term of your employment with the Employer or any of its direct and indirect subsidiary companies, in which case the restriction shall extend to those geographic areas in comity with those services provided; nor shall it prohibit you from performing any service for any entity if such services are in no way related to any business which is competitive with the business of the Employer or any of its direct and indirect subsidiary companies.  “Competitive Business” means the business engaged in by the Employer and any or all of its direct and indirect subsidiary companies immediately prior to the Termination Date.  Further, during the Severance Period you shall not, and shall not permit any of your employees, agents or others under your control to, directly or indirectly, on behalf of you or any other person, (i) call upon, accept Competitive Business from or solicit Competitive Business of any person who is, or had been at any time during the preceding two years, a customer of the Company or any successor to the business of the Company, or otherwise divert or attempt to divert any business of the Company of any such successor, or (ii) directly or indirectly recruit or otherwise solicit or induce any person who is an employee of, or otherwise engaged by, the Company or any successor to the business of the Company to terminate his or her employment or other relationship with the Company or such successor.
19.    NON-ADMISSION.  Nothing contained in this Agreement shall be deemed or construed as an admission of wrongdoing or liability on the part of the Employer or the Company.
20.    SEVERABILITY CLAUSE.  The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision or provisions of this Agreement, which shall remain in full force and effect.  If any provision of this Agreement is held to be invalid, void or unenforceable in any jurisdiction, any court so holding shall substitute a valid, enforceable provision that preserves, to the maximum lawful extent, the terms and intent of such provisions of this Agreement.  If any of the provisions of, or covenants contained in, this Agreement are hereafter construed to be invalid or unenforceable in any jurisdiction, the same shall not affect the remainder of the provisions or the enforceability thereof in any other jurisdiction, which shall be given full effect, without regard to the invalidity or unenforceability in such other jurisdiction.  Any such holding shall affect such provision of this Agreement, solely as to that jurisdiction, without rendering that or any other provisions of this Agreement invalid, illegal or unenforceable in any other jurisdiction.  If any covenant should be deemed invalid, illegal or unenforceable because its scope is considered excessive, such covenant will be modified so that the scope of the covenant is reduced only to the minimum extent necessary to render the modified covenant valid, legal and enforceable.
5

21.    OFFSET.  The Employer shall be entitled to offset any sums owed by you to the Employer against the severance pay payable pursuant to Sections 1 and/or 4 including, but not limited to, any Severance Pay and/or Employer contributions to your medical and/or dental coverage provided to you prior to the Effective Date of this Agreement.
22.      CONSULTING AGREEMENT.   You and the Employer agree to enter into a Consultant Agreement in the form attached hereto as Annex A, effective as of the Effective Date, providing for the terms pursuant to which you will provide assistance to the Employer after the Termination Date.  
23.    ASSIGNMENT.    This Agreement is personal to you and you may not assign any rights or delegate any responsibilities hereunder.
24.    GOVERNING LAW AND CHOICE OF FORUM. This Agreement shall be governed by, and construed pursuant to, the laws of the State of Florida applicable to transactions executed and to be wholly performed in Florida between residents thereof.  The parties consent and agree to the exclusive jurisdiction of the Federal and State courts sitting in the State of Florida for all purposes.
25.    ENTIRE AGREEMENT.    This Agreement, including Exhibits and documents referenced herein, expressly supersedes any and all previous understandings and agreements between the Employer and/or the Company and you and constitute the sole and exclusive understanding between the Employer and/or the Company and you concerning the subjects set forth herein, other than any agreements related to non-competition or trade secrets, confidential information and/or work product previously executed by you.  This Agreement may not be altered, modified, changed or discharged except in a writing signed by you and agreed to by the Employer. You understand and agree that other than as set forth in this Agreement, you will not receive any compensation, payments or benefits of any kind from the Employer and/or the Company and you expressly agree that you are not entitled and have no right to any additional compensation, payments or benefits other than the payment of vested benefits (if any) under the terms of the Employer’s qualified pension plans, as amended from time to time. 
To accept the above terms, please execute and return to the undersigned an original of this Agreement in the postage paid envelope included with this letter no later than twenty-one (21) days after the date first written above. Until the Effective Date, you will not receive any of the benefits outlined in this letter.
If you have any questions, please let me know.

Sincerely,

/s/ Benjamin Gliklich
Benjamin Gliklich
Chief Executive Officer
Element Solutions Inc 
6

AGREEMENT AND
ACKNOWLEDGMENT

I, Patricia Mount, acknowledge receipt of the Agreement and I agree to all the terms and conditions set forth in the Agreement.  I have read and fully understand the terms set forth in the Agreement and enter into such agreement of my own free will and without coercion, intimidation or threat of retaliation.  I also acknowledge and understand that I have been afforded twenty-one (21) days to consider the Agreement and to have the Agreement reviewed by my attorney if I so choose.  I further understand that I have seven (7) days to revoke the Agreement after the date I sign the Agreement and that the Agreement shall not be effective or enforceable until the expiration of this seven (7) day revocation period without revocation.  

Signature: /s/ Patricia A. Mount     Date: April 27, 2021
 

7

Annex A

FORM OF CONSULTANT AGREEMENT

 

8

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