Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT
(the “Agreement”), is entered into as of June 6, 2019 (the “Effective Date”), by and
between Qilian International Holding Group Limited, incorporated under the laws of the Cayman Islands (the “Company”),
and Zhanchang Xin, an individual (the “Chief Technology Officer (CEO)”). Except with respect to the direct employment
of the CEO by the Company, the term “Company” as used herein with respect to all obligations of the CEO hereunder shall
be deemed to include the Company and all of its subsidiaries and affiliated entities (collectively, the “Group”).

 

RECITALS

 

A. The Company desires to employ Zhanchang
Xin as its CEO and to assure itself of the services of the CEO during the term of Employment (as defined below).

 

B. Zhanchang Xin desires to be employed
by the Company as its CEO during the term of Employment and upon the terms and conditions of this Agreement.

 

AGREEMENT

 

The parties hereto agree as follows:

 

		1.	POSITION

 

Zhanchang Xin hereby
accepts a position of CEO (the “Employment”) of the Company.

 

		2.	TERM

 

Subject to the terms and conditions of this Agreement, the initial term of the Employment shall be five year commencing on the Effective Date, unless terminated earlier pursuant to the terms of this Agreement. The Employment will be renewed automatically for an additional one-year term if neither the Company nor the CEO provides a notice of termination of the Employment to the other party or otherwise proposes to re-negotiate the terms of the Employment with the other party within three months prior to the expiration of the applicable term.

 

		3.	DUTIES
AND RESPONSIBILITIES

 

		(a)	The
CEO’s duties at the Company will include all jobs assigned by the Company’s Board of the Directors (the “Board”).

 

		(b)	The
CEO shall devote all of his working time, attention and skills to the performance of his duties at the Company and shall faithfully
and diligently serve the Company in accordance with this Agreement, the Certificate of Incorporation and Bylaws of the Company,
as amended and restated from time to time (the “Charter Documents”), and the guidelines, policies and procedures
of the Company approved from time to time by the Board.

 

		(c)	The
CEO shall use his best efforts to perform his duties hereunder. The CEO shall not, without the prior written consent of the Board,
become an employee of any entity other than the Company and any subsidiary or affiliate of the Company, and shall not be concerned
or interested in any business or entity that engages in the same business in which the Company engages (any such business or entity,
a “Competitor”), provided that nothing in this clause shall preclude the CEO from holding any shares or other
securities of any Competitor that is listed on any securities exchange or recognized securities market anywhere if such shares
or securities represent less than 5% of the competitors outstanding shares and securities. The CEO shall notify the Company in
writing of his interest in such shares or securities in a timely manner and with such details and particulars as the Company may
reasonably require.

 

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		4.	NO
BREACH OF CONTRACT

 

The CEO
hereby represents to the Company that: (i) the execution and delivery of this Agreement by the CEO and the performance by
the CEO of the CEO’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement
or policy to which the CEO is a party or otherwise bound, except for agreements entered into by and between the CEO and any member
of the Group pursuant to applicable law, if any; (ii) that the CEO has no information (including, without limitation, confidential
information and trade secrets) relating to any other person or entity which would prevent, or be violated by, the CEO entering
into this Agreement or carrying out his duties hereunder; (iii) that the CEO is not bound by any confidentiality, trade secret
or similar agreement (other than this) with any other person or entity except for other member(s) of the Group, as the case may
be.

 

		5.	Intentionally
Omitted

  

		6.	COMPENSATION
AND BENEFITS

 

		(a)	Base
Salary. The CEO’s initial base salary shall be $90,000 and such compensation is subject to annual review and adjustment
by the Board.

 

		(b)	Bonus.
The CEO shall be eligible for Bonuses determined by the Board.

 

		(c)	Equity
Incentives. To the extent the Company adopts and maintains a share incentive plan, the CEO will be eligible to participate
in such plan pursuant to the terms thereof as determined by the Board.

 

		(d)	Benefits.
The CEO is eligible for participation in any standard employee benefit plan of the Company that currently exists or may be adopted
by the Company in the future, including, but not limited to, any retirement plan, life insurance plan, health insurance plan and
travel/holiday plan.

 

		(e)	Expenses.
The CEO shall be entitled to reimbursement by the Company for all reasonable ordinary and necessary travel and other expenses
incurred by the CEO in the performance of his duties under this Agreement; provided that he properly accounts for such expenses
in accordance with the Company’s policies and procedures.

 

		7.	TERMINATION
OF THE AGREEMENT

 

	 	(a)	By the Company.

 

(i) For Cause.
The Company may terminate the Employment for cause, at any time, without notice or remuneration (unless notice or remuneration
is specifically required by applicable law, in which case notice or remuneration will be provided in accordance with applicable
law), if:

 

(1) the CEO is convicted or pleads
guilty to a felony or to an act of fraud, misappropriation or embezzlement,

 

(2) the CEO has been grossly
negligent or acted dishonestly to the detriment of the Company,

 

(3) the CEO has engaged in actions
amounting to willful misconduct or failed to perform his duties hereunder and such failure continues after the CEO is afforded
a reasonable opportunity to cure such failure; or

 

(4) the CEO violates Section
8 or 10 of this Agreement.

 

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Upon termination for cause, the
CEO shall be entitled to the amount of base salary earned and not paid prior to termination. However, the CEO will not be entitled
to receive payment of any severance benefits or other amounts by reason of the termination, and the CEO’s right to all other
benefits will terminate, except as required by any applicable law.

 

(ii) For death
and disability. The Company may also terminate the Employment, at any time, without notice or remuneration (unless notice or
remuneration is specifically required by applicable law, in which case notice or remuneration will be provided in accordance with
applicable law), if:

 

(1) the CEO has died, or

 

(2) the CEO has a disability
which shall mean a physical or mental impairment which, as reasonably determined by the Board, renders the CEO unable to perform
the essential functions of his employment with the Company, with or without reasonable accommodation, for more than 120 days in
any 12-month period, unless a longer period is required by applicable law, in which case that longer period would apply.

 

Upon termination for death or
disability, the CEO shall be entitled to the amount of base salary earned and not paid prior to termination. However, the CEO will
not be entitled to receive payment of any severance benefits or other amounts by reason of the termination, and the CEO’s
right to all other benefits will terminate, except as required by any applicable law.

 

(iii) Without
Cause. The Company may terminate the Employment without cause, at any time, upon one-month prior written notice. Upon termination
without cause, the Company shall provide the following severance payments and benefits to the CEO: (1) a lump sum cash payment
equal to 12 months of the CEO’s base salary as of the date of such termination; (2) a lump sum cash payment equal to
a pro-rated amount of his target annual bonus for the year immediately preceding the termination, if any; (3) payment of premiums
for continued health benefits under the Company’s health plans for 12 months fo1lowing the termination, if any; and (4) immediate
vesting of 100% of the then-unvested portion of any outstanding equity awards held by the CEO.

 

Upon termination without, the
CEO shall be entitled to the amount of base salary earned and not paid prior to termination.

 

(iv) Change of Control
Transaction. If the Company or its successor terminates the Employment upon a merger, consolidation, or transfer or sale of
all or substantially all of the assets of the Company with or to any other individual(s) or entity (the “Change of Control
Transaction”), the CEO shall be entitled to the following severance payments and benefits upon such termination: (1) a
lump sum cash payment equal to 12  months of the CEO’s base salary at a rate equal to the greater of her/her annual
salary in effect immediate1y prior to the termination, or her/her then current annua1 salary as of the date of such termination;
(2) a lump sum cash payment equal to a pro-rated amount of her/her target annual bonus for the year immediately preceding
the termination; (3) payment of premiums for continued health benefits under the Company’s health plans for 12 months
fo1lowing the termination; and (4) immediate vesting of 100% of the then-unvested portion of any outstanding equity awards
held by the CEO.

 

		(b)	By
the CEO. The CEO may terminate the Employment at any time with a one-month prior written notice to the Company, if (1) there
is a material reduction in the CEO’s authority, duties and responsibilities, or (2) there is a material reduction in
the CEO’s annual salary. Upon the CEO’s termination of the Employment due to either of the above reasons, the Company
shall provide compensation to the CEO equivalent to 12 months of the CEO’s base salary that he is entitled to immediately
prior to such termination. In addition, the CEO may resign prior to the expiration of the Agreement if such resignation is approved
by the Board or an alternative arrangement with respect to the Employment is agreed to by the Board.

 

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		(c)	Notice
of Termination. Any termination of the CEO’s employment under this Agreement shall be communicated by written notice
of termination from the terminating party to the other party. The notice of termination shall indicate the specific provision(s)
of this Agreement relied upon in effecting the termination.

 

		8.	CONFIDENTIALITY
AND NON-DISCLOSURE

 

		(a)	Confidentiality
and Non-disclosure. The CEO hereby agrees at all times during the term of the Employment and after his termination, to hold
in the strictest confidence, and not to use, except for the benefit of the Company, or to disclose to any person, corporation
or other entity without prior written consent of the Company, any Confidential Information. The CEO understands that “Confidential
Information” means any proprietary or confidential information of the Company, its affiliates, or their respective clients,
customers or partners, including, without limitation, technical data, trade secrets, research and development information, product
plans, services, customer lists and customers, supplier lists and suppliers, software developments, inventions, processes, formulas,
technology, designs, hardware configuration information, personnel information, marketing, finances, information about the suppliers,
joint ventures, francherees, distributors and other persons with whom the Company does business, information regarding the skills
and compensation of other employees of the Company or other business information disclosed to the CEO by or obtained by the CEO
from the Company, its affiliates, or their respective clients, customers or partners, either directly or indirectly, in writing,
orally or otherwise, if specifically indicated to be confidential or reasonably expected to be confidential. Notwithstanding the
foregoing, Confidential Information shall not include information that is generally available and known to the public through
no fault of the CEO.

 

		(b)	Company
Property. The CEO understands that all documents (including computer records, facsimile and e-mail) and materials created,
received or transmitted in connection with his work or using the facilities of the Company are property of the Company and subject
to inspection by the Company at any time. Upon termination of the CEO’s employment with the Company (or at any other time
when requested by the Company), the CEO will promptly deliver to the Company all documents and materials of any nature pertaining
to his work with the Company and will provide written certification of his compliance with this Agreement. Under no circumstances
will the CEO have, following his   termination, in his possession any property of the Company, or any documents or materials
or copies thereof containing any Confidential Information.

 

		(c)	Former
Employer Information. The CEO agrees that he has not and will not, during the term of his employment, (i) improperly
use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the CEO
has an agreement or duty to keep in confidence information acquired by CEO, if any, or (ii) bring into the premises of the
Company any document or confidential or proprietary information belonging to such former employer, person or entity unless consented
to in writing by such former employer, person or entity. The CEO will indemnify the Company and hold it harmless from and against
all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of suit, arising out of or
in connection with any violation of the foregoing.

 

		(d)	Third
Party Information. The CEO recognizes that the Company may have received, and in the future may receive, from third parties
their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of
such information and to use it only for certain limited purposes. The CEO agrees that the CEO owes the Company and such third
parties, during the CEO’s employment by the Company and thereafter, a duty to hold all such confidential or proprietary
information in the strictest confidence and not to disclose it to any person or firm and to use it in a manner consistent with,
and for the limited purposes permitted by, the Company’s agreement with such third party.

 

This Section 8 shall
survive the termination of this Agreement for any reason. In the event the CEO breaches this Section 8, the Company shall have
right to seek remedies permissible under applicable law.

 

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		9.	CONFLICTING
EMPLOYMENT.

 

The CEO
hereby agrees that, during the term of his employment with the Company, he will not engage in any other employment, occupation,
consulting or other business activity related to the business in which the Company is now involved or becomes involved during the
term of the CEO’s employment, nor will the CEO engage in any other activities that conflict with his obligations to the Company
without the prior written consent of the Company.

 

		10.	NON-COMPETITION
AND NON-SOLICITATION

 

In consideration
of the salary paid to the CEO by the Company and subject to applicable law, the CEO agrees that during the term of the Employment
and for a period of one (1) year following the termination of the Employment for whatever reason:

 

		(a)	The
CEO will not approach clients, customers or contacts of the Company or other persons or entities introduced to the CEO in the
CEO’s capacity as a representative of the Company for the purposes of doing business with such persons or entities which
will harm the business relationship between the Company and such persons and/or entities;

 

		(b)	The
CEO will not assume employment with or provide services as a director or otherwise for any Competitor, or engage, whether as principal,
partner, licensor or otherwise, in any Competitor; and

 

		(c)	The
CEO will not seek, directly or indirectly, by the offer of alternative employment or other inducement whatsoever, to solicit the
services of any employee of the Company employed as at or after the date of such termination, or in the year preceding such termination.

 

The provisions contained
in Section 10 are considered reasonable by the CEO and the Company. In the event that any such provisions should be found
to be void under applicable laws but would be valid if some part thereof was deleted or the period or area of application reduced,
such provisions shall apply with such modification as may be necessary to make them valid and effective.

 

This Section 10 shall
survive the termination of this Agreement for any reason. In the event the CEO breaches this Section 10, the CEO acknowledges that
there will be no adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a decree for specific performance,
and such other relief as may be proper (including monetary damages if appropriate). In any event, the Company shall have right
to seek all remedies permissible under applicable law.

 

		11.	WITHHOLDING
TAXES

 

Notwithstanding anything
else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise
due or payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or other taxes
as may be required to be withheld pursuant to any applicable law or regulation.

 

		12.	ASSIGNMENT

 

This Agreement is personal
in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any
rights or obligations hereunder; provided, however, that (i) the Company may assign or transfer this Agreement or any rights
or obligations hereunder to any member of the Group without such consent, and (ii) in the event of a Change of Control Transaction,
this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor
shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder.

 

		13.	SEVERABILITY

 

If any provision of
this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of
this Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this
Agreement are declared to be severable.

 

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		14.	ENTIRE
AGREEMENT

 

This Agreement constitutes
the entire agreement and understanding between the CEO and the Company regarding the terms of the Employment and supersedes all
prior or contemporaneous oral or written agreements concerning such subject matter, including any prior agreements between the
CEO and a member of the Group. The CEO acknowledges that he has not entered into this Agreement in reliance upon any representation,
warranty or undertaking which is not set forth in this Agreement. Any amendment to this Agreement must be in writing and signed
by the CEO and the Company.

 

		15.	GOVERNING
LAW; JURISDICTION

 

This Agreement shall
be governed by and construed in accordance with the laws of the Cayman Islands and each of the parties irrevocably consents to
the jurisdiction and venue of the courts located in Cayman Islands.

 

		16.	AMENDMENT

 

This Agreement may
not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring
to this Agreement, which agreement is executed by both of the parties hereto.

 

		17.	WAIVER

 

Neither the failure
nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a
waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further
exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege
with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence.
No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

 

		18.	NOTICES

 

All notices, requests,
demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been
duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by
a recognized courier with next-day or second-day delivery to the last known address of the other party.

 

		19.	COUNTERPARTS

 

This Agreement may
be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears
thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or
more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the
signatories.

 

Photographic copies
of such signed counterparts may be used in lieu of the originals for any purpose.

 

		20.	NO
INTERPRETATION AGAINST DRAFTER

 

Each party recognizes
that this Agreement is a legally binding contract and acknowledges that it, he or he has had the opportunity to consult with legal
counsel of choice. In any construction of the terms of this Agreement, the same shall not be construed against either party on
the basis of that party being the drafter of such terms.

 

[Remainder of this page has been intentionally
left blank.]

 

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IN WITNESS WHEREOF, this Agreement has
been executed as of the date first written above.

 

	 	Qilian International Holding Group Limited
	 	 	 
	 	By:	/s/Zhanchang Xin
	 	Name:	Zhanchang Xin     
	 	Title:	Chairman    
	 	 	 
	 	CEO
	 	 	 
	 	Signature:	/s/Zhanchang Xin
	 	Name:	Zhanchang Xin

 

    	 	7Exhibit 10.2

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement (this “Agreement”)
is entered into as of                          by
and between Qilian International Holding Group Limited, a Cayman Islands company (the “Company”), and the undersigned,
a director and/or an officer of the Company (“Indemnitee”), as applicable.

 

RECITALS

 

The Board of Directors of the Company
(the “Board of Directors”) has determined that the ability to attract and retain highly competent persons
to serve the Company is essential to the best interests of the Company and its shareholders and that it is reasonable and
necessary for the Company to provide adequate protection to such persons against risks of claims and actions against them
arising out of their services to the corporation.

 

AGREEMENT

 

In consideration of the premises and the covenants contained
herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

A. DEFINITIONS

 

The following defined terms shall have the respective
meanings below:

 

Expenses include,
without limitation, damages, judgments, fines, penalties, settlements and costs, attorneys’ fees and disbursements and
costs of attachment or similar bond, investigations, and any other expenses paid or incurred in connection with
investigating, defending, being a witness in, participating in (including on appeal), or preparing for any of the foregoing
in, any Proceeding.

 

Indemnifiable Event means any event or occurrence
that takes place either before or after the execution of this Agreement, related to the fact that Indemnitee is or was a director
or an officer of the Company, or is or was serving at the request of the Company as a director or officer of another corporation,
partnership, joint venture or other entity, or related to anything done or not done by Indemnitee in any such capacity, including,
but not limited to neglect, breach of duty, error, misstatement, misleading statement or omission.

 

Participant means a person who is a party to,
or witness or participant (including on appeal) in, a Proceeding.

 

Proceeding means any threatened, pending, or completed
action, suit, arbitration or proceeding, or any inquiry, hearing or investigation, whether civil, criminal, administrative, investigative
or other, including appeal, in which Indemnitee may be or may have been involved as a party or otherwise by reason of an Indemnifiable
Event.

 

B. AGREEMENT TO INDEMNIFY

 

1. General Agreement. In the event Indemnitee was, is,
or becomes a Participant in, or is threatened to be made a Participant in, a Proceeding, the Company shall indemnify the Indemnitee
from and against any and all Expenses which Indemnitee incurs or becomes obligated to incur in connection with such Proceeding,
to the fullest extent permitted by applicable law.

 

2. Indemnification of Expenses of Successful Party. Notwithstanding
any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits in defense of any Proceeding
or in defense of any claim, issue or matter in such Proceeding, the Company shall indemnify Indemnitee against all Expenses incurred
in connection with such Proceeding or such claim, issue or matter, as the case may be.

 

3.
Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company
for a portion of Expenses, but not for the total amount of Expenses, the Company shall indemnify the Indemnitee for the portion
of such Expenses to which Indemnitee is entitled.

 

 

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4. No Employment Rights. Nothing in this Agreement is
intended to create in Indemnitee any right to continued employment with the Company.

 

5. Contribution. If the indemnification provided in this
Agreement is unavailable and may not be paid to Indemnitee for any reason, then the Company
shall contribute to the amount of Expenses paid in settlement actually and reasonably incurred and paid or payable by Indemnitee
in such proportion as is appropriate to reflect (i) the relative benefits received by the Company on the one hand and by the Indemnitee
on the other hand from the transaction or events from which such Proceeding arose, and (ii) the relative fault of the Company on
the one hand and of the Indemnitee on the other hand in connection with the events which resulted in such Expenses, as well as
any other relevant equitable considerations. The relative fault of the Company on the one hand and of the Indemnitee on the other
hand shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent the circumstances resulting in such Expenses, judgments, fines or settlement amounts. The
Company agrees that it would not be just and equitable if contribution pursuant to this Section B.5 were determined by pro rata
allocation or any other method of allocation which does not take account of the foregoing equitable considerations.

 

C. INDEMNIFICATION PROCESS

 

1. Notice and Cooperation by Indemnitee. Indemnitee shall,
as a condition precedent to his/her right to be indemnified under this Agreement, give the Company notice in writing as soon as
practicable of any claim made against Indemnitee for which indemnification will or could be sought under this Agreement, provided
that the delay of Indemnitee to give notice hereunder shall not prejudice any of Indemnitee’s rights hereunder, unless such
delay results in the Company’s forfeiture of substantive rights or defenses. Notice to the Company shall be given in accordance
with Section F.7 below. If, at the time of receipt of such notice, the Company has directors’ and officers’ liability
insurance policies in effect, the Company shall give prompt notice to its insurers of the Proceeding relating to the notice. The
Company shall thereafter take all necessary and desirable action to cause such insurers to pay, on behalf of Indemnitee, all Expenses
payable as a result of such Proceeding. In addition, Indemnitee shall give the Company such information and cooperation as the
Company may reasonably request.

 

2. Indemnification Payment.

 

(a) Advancement of Expenses. Indemnitee may submit a
written request with reasonable particulars to the Company requesting that the Company advance to Indemnitee all Expenses that
may be reasonably incurred in advance by Indemnitee in connection with a Proceeding. The Company shall, within 10 business days
of receiving such a written request by Indemnitee, advance all requested Expenses to Indemnitee. Any excess of the advanced Expenses
over the actual Expenses will be repaid to the Company.

 

(b) Reimbursement of Expenses. To the extent Indemnitee
has not requested any advanced payment of Expenses from the Company, Indemnitee shall be entitled to receive reimbursement for
the Expenses incurred in connection with a Proceeding from the Company immediately after Indemnitee makes a written request to
the Company for reimbursement unless the Company refers the indemnification request to the Reviewing Party in compliance with Section
C.2(c) below.

 

(c) Determination by the Reviewing Party. If the Company
reasonably believes that it is not obligated under this Agreement to indemnify the Indemnitee, the Company shall, within 10 days
after the Indemnitee’s written request for an advancement or reimbursement of Expenses, notify the Indemnitee that the request
for advancement of Expenses or reimbursement of Expenses will be submitted to the Reviewing Party (as hereinafter defined). The
Reviewing Party shall make a determination on the request within 30 days after the Indemnitee’s written request for an advancement
or reimbursement of Expenses. Notwithstanding anything foregoing to the contrary, in the event the Reviewing Party informs the
Company that Indemnitee is not entitled to indemnification in connection with a Proceeding under this Agreement or applicable law,
the Company shall be entitled to be reimbursed by Indemnitee for all the Expenses previously advanced or otherwise paid to Indemnitee
in connection with such Proceeding; provided, however, that Indemnitee may bring a suit to enforce his/her indemnification
right in accordance with Section C.3 below.

  

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3. Suit to Enforce Rights. Regardless of any action by
the Reviewing Party, if Indemnitee has not received full indemnification within 30 days after making a written demand in accordance
with Section C.2 above or 50 days if the Company submits a request for advancement or reimbursement to the Reviewing Party under
Section C.2(c) above, Indemnitee shall have the right to enforce its indemnification rights under this Agreement by commencing
litigation in any court of competent jurisdiction seeking a determination by the court or challenging any determination by the
Reviewing Party or any aspect of this Agreement. Any determination by the Reviewing Party not challenged by Indemnitee and any
judgment entered by the court shall be binding on the Company and Indemnitee.

 

4. Assumption of Defense. In the event the Company is
obligated under this Agreement to advance or bear any Expenses for any Proceeding against Indemnitee, the Company shall be entitled
to assume the defense of such Proceeding, with counsel approved by Indemnitee, upon delivery to Indemnitee of written notice of
its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel
by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred
by Indemnitee with respect to the same Proceeding, unless (i) the employment of counsel by Indemnitee has been previously authorized
by the Company, (ii) Indemnitee shall have reasonably concluded, based on written advice of counsel, that there may be a conflict
of interest of such counsel retained by the Company between the Company and Indemnitee in the conduct of any such defense, or (iii)
the Company ceases or terminates the employment of such counsel with respect to the defense of such Proceeding, in any of which
events the fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. At all times, Indemnitee shall
have the right to employ counsel in any Proceeding at Indemnitee’s expense.

 

5. Defense to Indemnification, Burden of Proof and Presumptions.
It shall be a defense to any action brought by Indemnitee against the Company to enforce this Agreement that it is not permissible
under this Agreement or applicable law for the Company to indemnify the Indemnitee for the amount claimed. In connection with any
such action or any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified under
this Agreement, the burden of proving such a defense or determination shall be on the Company.

 

6. No Settlement Without Consent.
Neither party to this Agreement shall settle any Proceeding in any manner that would impose any damage, loss, penalty or limitation
on Indemnitee without the other party’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold its
consent to any proposed settlement.

 

7. Company Participation. Subject to Section B.5, the
Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial action if the Company
was not given a reasonable and timely opportunity, at its expense, to participate in the defense, conduct and/or settlement of
such action.

 

8. Reviewing Party.

 

(a) For purposes of this Agreement,
the Reviewing Party with respect to each indemnification request of Indemnitee that is referred by the Company pursuant to Section
C.2(c) above shall be (A) the Board of Directors by a majority vote of a quorum consisting of Disinterested Directors (as hereinafter
defined), or (B) if a quorum of the Board of Directors consisting of Disinterested Directors is not obtainable or, even if obtainable,
said Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which
shall be delivered to Indemnitee. If the Reviewing Party determines that Indemnitee is entitled to indemnification, payment to
Indemnitee shall be made within 10 days after such determination. Indemnitee shall cooperate with the person, persons or entity
making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person,
persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected
from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any Independent
Counsel or member of the Board of Directors shall act reasonably and in good faith in making a determination under this Agreement
of the Indemnitee’s entitlement to indemnification. Any reasonable costs or expenses (including reasonable attorneys’
fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination
shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and
the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. “Disinterested Director” means
a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 

 

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(b) If the determination of entitlement to
indemnification is to be made by Independent Counsel, the Independent Counsel shall be selected as provided in this Section
C.8(b). The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made
by the Board of Directors, in which event the proceeding sentence shall apply), and Indemnitee shall give written notice to
the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company,
as the case may be, may, within 10 days after such written notice of selection shall have been given, deliver to the Company
or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of
“Independent Counsel” as defined in Section C.8(d) of this Agreement, and the objection shall set forth
with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall
act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve
as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without
merit. If, within 20 days after submission by Indemnitee of a written request for indemnification, no Independent Counsel
shall have been selected and not objected to, either the Company or Indemnitee may petition a court of competent jurisdiction
for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of
Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other
person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so
appointed shall act as Independent Counsel. The Company shall pay any and all reasonable fees and expenses of Independent
Counsel incurred by such Independent Counsel in connection with acting under this Agreement, and the Company shall pay all
reasonable fees and expenses incident to the procedures of this Section C.8(b), regardless of the manner in which
such Independent Counsel was selected or appointed.

 

(c) In making a determination
with respect to entitlement to indemnification hereunder, the Reviewing Party shall presume that Indemnitee is entitled to indemnification
under this Agreement if Indemnitee has submitted a request for indemnification in accordance with this Agreement, and the Company
shall have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of
any determination contrary to that presumption. The termination of any Proceeding or of any claim, issue or matter therein, by
judgment, order, settlement (with or without court approval), conviction, or upon a plea of nolocontendere or its equivalent,
shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification
or create a presumption that Indemnitee did not act in good faith and in a manner which he/she reasonably believed to be in or
not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause
to believe that his/her conduct was unlawful. For purposes of any determination of good faith, Indemnitee shall be deemed to have
acted in good faith if Indemnitee’s action is based on the records or books of account of the Company and any other corporation,
partnership, joint venture or other entity of which Indemnitee is or was serving at the written request of the Company as a director,
officer, employee, agent or fiduciary, including financial statements, or on information supplied to Indemnitee by the officers
and directors of the Company or such other corporation, partnership, joint venture or other entity in the course of their duties,
or on the advice of legal counsel for the Company or such other corporation, partnership, joint venture or other entity or on
information or records given or reports made to the Company or such other corporation, partnership, joint venture or other entity
by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Company
or such other corporation, partnership, joint venture or other entity. In addition, the knowledge and/or actions, or failure to
act, of any director, officer, agent or employee of the Company or such other corporation, partnership, joint venture or other
entity shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. The provisions
of this Section C.8(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee
may be deemed to have met the applicable standard of conduct set forth in this Agreement. 

 

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(d) “Independent Counsel” means a law firm,
or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years
has been, retained to represent (i) the Company or Indemnitee in any matter material to either such party (other than with respect
to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or
(ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the
term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to
fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement
or its engagement pursuant hereto.

 

D. DIRECTOR AND OFFICER LIABILITY INSURANCE

 

1. Good Faith Determination. The Company shall from time
to time make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies
of insurance with reputable insurance companies providing the officers and directors of the Company with coverage for losses incurred
in connection with their services to the Company or to ensure the Company’s performance of its indemnification obligations
under this Agreement.

 

2. Coverage of Indemnitee. To the extent the Company
maintains an insurance policy or policies providing directors’ and officers’ liability insurance, Indemnitee shall
be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for
any of the Company’s directors or officers.

 

3. No Obligation. Notwithstanding the foregoing, the
Company shall have no obligation to obtain or maintain any director and officer insurance policy if the Company determines in good
faith that such insurance is not reasonably available in the case that (i) premium costs for such insurance are disproportionate
to the amount of coverage provided, or (ii) the coverage provided by such insurance is limited by exclusions so as to provide an
insufficient benefit.

 

E. NON-EXCLUSIVITY; U.S. FEDERAL PREEMPTION; TERM

 

1. Non-Exclusivity. The
indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled
under the Company’s current memorandum and articles of association, as may be amended from time to time, applicable law
or any written agreement between Indemnitee and the Company (including its subsidiaries and affiliates). The indemnification
provided under this Agreement shall continue to be available to Indemnitee for any action taken or not taken while serving in
an indemnified capacity even though he/she may have ceased to serve in any such capacity at the time of any Proceeding. In
the event of any inconsistencies between the terms as set out in this Agreement and the provisions in the Company’s
memorandum and articles of association (as may be amended from time to time), the provisions in the Company’s
memorandum and articles of association (as may be amended from time to time) shall prevail.

 

2. U.S. Federal Preemption. Notwithstanding the foregoing,
both the Company and Indemnitee acknowledge that in certain instances, U.S. federal law or public policy may override applicable
law and prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise. Such instances include,
but are not limited to, the U.S. Securities and Exchange Commission (the “SEC”)’s prohibition on indemnification
for liabilities arising under certain U.S. federal securities laws. Indemnitee understands and acknowledges that the Company has
undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification to a court in certain
circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee.

 

3. Duration of Agreement. All agreements
and obligations of the Company contained herein shall continue during the period Indemnitee is an officer and/or a director of
the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise) and shall continue thereafter so long as Indemnitee shall be subject to
any Proceeding by reason of his/her former or current capacity at the Company, whether or not he/she is acting or serving in any
such capacity at the time any Expense is incurred for which indemnification can be provided under this Agreement. This Agreement
shall continue in effect regardless of whether Indemnitee continues to serve as an officer and/or a director of the Company or
any other enterprise at the Company’s request. 

 

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F. MISCELLANEOUS

 

1. Amendment of this Agreement. No supplement, modification,
or amendment of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions
of this Agreement shall operate as a waiver of any other provisions (whether or not similar), nor shall such waiver constitute
a continuing waiver. Except as specifically provided in this Agreement, no failure to exercise or any delay in exercising any right
or remedy shall constitute a waiver.

 

2. Subrogation. In the event of payment to Indemnitee
by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery
of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including
the execution of such documents necessary to enable the Company to bring suit to enforce such rights.

 

3. Assignment; Binding Effect. Neither this Agreement
nor any of the rights or obligations hereunder may be assigned by either party hereto without the prior written consent of the
other party; except that the Company may, without such consent, assign all such rights and obligations to a successor in interest
to the Company which assumes all obligations of the Company under this Agreement. Notwithstanding the foregoing, this Agreement
shall be binding upon and inure to the benefit of and be enforceable by and against the parties hereto and the Company’s
successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise to all or substantially
all of the business and/or assets of the Company) and assigns, as well as Indemnitee’s spouses, heirs, and personal and legal
representatives.

 

4. Severability and Construction. Nothing in this Agreement
is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of applicable law.
The Company’s inability, pursuant to a court order, to perform its obligations under this Agreement shall not constitute
a breach of this Agreement. In addition, if any portion of this Agreement shall be held by a court of competent jurisdiction to
be invalid, void, or otherwise unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted
by applicable law. The parties hereto acknowledge that they each have opportunities to have their respective counsels review this
Agreement. Accordingly, this Agreement shall be deemed to be the product of both of the parties hereto, and no ambiguity shall
be construed in favor of or against either of the parties hereto.

 

5. Counterparts. This Agreement may be executed in two
counterparts, both of which taken together shall constitute one instrument.

 

6. Governing Law. This agreement
and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed
and interpreted in accordance with the laws of the State of New York, without giving effect to conflicts of law provisions thereof.

 

7. Notices. All notices, demands,
and other communications required or permitted under this Agreement shall be made in writing and shall be deemed to have been duly
given if delivered by hand, against receipt, or mailed via postage prepaid, certified or registered mail, return receipt requested,
and addressed to the Company at:

 

Qilian International Holding Group Limited

 

Attention: Chief Executive Officer

 

and to Indemnitee at his/her address last
known to the Company.

 

8. Entire Agreement. This Agreement constitutes the entire
agreement and supersedes all prior agreements and understandings, both written and oral, between the parties with respect to the
subject matter hereof.

 

(Signature page follows) 

 

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IN WITNESS WHEREOF, the parties hereto execute this Agreement
as of the date first written above.

 

	Qilian International Holding Group Limited	 
	 	 	 
	By: 		 
	Name: 	 	 
	Title:	 	 
	 	 
	Indemnitee	 
	 	 	 
	Signature:		 
	Name:	 	 

 

[Signature Page to Indemnification Agreement]

 

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