Document:

Exhibit
10.1

 

This
Employment Agreement (the “Agreement”) is made on July 12, 2022 (the “Effective Date”) by and between JX Luxventure
Limited, a corporation organized under the Republic of Marshall Island (“Company” or “Employer”) and Sun Lei,
a citizen of People’s Republic of China (“Employee”), (each, a “Party” and collectively, the “Parties”).
The Parties agree and covenant to be bound by the terms set forth in this Agreement as follows:

 

		1.	Employment. 
                                            On the Effective Date, the Company will employ Employee as the Chief Executive Officer. The
                                            Employee shall be responsible for all operations of the Company during the term of this employment.

 

		2.	Term. The
                                            term of this Agreement is for one (1) year.

 

		3.	Compensation.
                                             

 

Base
Salary: US$1.00

 

Based
upon the Company achieving certain financial results in 2022 as to be reported on the Company’s 2022 annual report, the Employee
shall be entitled to receive the shares of the Company’s common stock as follows:

 

	Revenue	 	Number
    of Shares
	US$59,000,0000 - US$99,999,999	 	25,000
	US$100,000,000 and above	 	50,000
	 	 	 
	Profit (Loss) Margin from Operation 	 	 
	5% - 9% improvement from 2021 	 	50,000
	10% - 19% improvement from 2021	 	75,000
	20% and over improvement from 2021	 	100,000
	 	 	 
	Profit from Non-Menswear operation	 	 
	Achieve profitability on an adjusted basis	 	50,000

 

The
Employee will be entitled to a special bonus as determined by the Board of Directors of the Company from time to time.

 

		4.	Signing
                                            Bonus

 

[Not
Applicable]

 

5.
Confidentiality.

 

A.
Confidential and Proprietary Information. In the course of employment, Employee will be exposed to confidential and proprietary information
of Employer. Confidential and proprietary information shall mean any data or information that is competitively sensitive material and
not generally known to the public, including, but not limited to, information relating to development and plans, marketing strategies,
finance, operations, systems, proprietary concepts, documentation, reports, data, specifications, computer software, source code, object
code, flow charts, data, databases, inventions, know-how, trade secrets, customer lists, customer relationships, customer profiles, supplier
lists, supplier relationships, supplier profiles, pricing, sales estimates, business plans and internal performance results relating
to the past, present or future business activities, technical information, design, process, procedure, formula, or improvement, which
Employer considers confidential and proprietary. Employee acknowledges and agrees that the confidential and proprietary information is
the valuable property of Employer, developed over a long period of time at substantial expense and that it is worthy of protection.  

 

     

     

    

 

B.
Confidentiality Obligations.  Except as otherwise expressly permitted in this Agreement, Employee shall not disclose or use
in any manner, directly or indirectly, any confidential and proprietary information either during the term of this Agreement or at any
time thereafter, except as required to perform their duties and responsibilities or with Employer’s prior written consent. 

 

C.
Rights in Confidential and Proprietary Information.  All ideas, concepts, work product, information, written material or other
confidential and proprietary information disclosed to Employee by Employer (i) are and shall remain the sole and exclusive property of
Employer, and (ii) are disclosed or permitted to be acquired by Employee solely in reliance on Employee’s agreement to maintain
them in confidence and not to use or disclose them to any other person except in furtherance of Employer’s business. Except as
expressly provided herein, this Agreement does not confer any right, license, ownership or other interest or title in, to or under the
confidential and proprietary information to Employee. 

 

D.
Irreparable Harm.  Employee acknowledges that use or disclosure of any confidential and proprietary information in a manner
inconsistent with this Agreement will give rise to irreparable injury for which damages would not be an adequate remedy. Accordingly,
in addition to any other legal remedies which may be available at law or in equity, Employer shall be entitled to equitable or injunctive
relief against the unauthorized use or disclosure of confidential and proprietary information. Employer shall be entitled to pursue any
other legally permissible remedy available as a result of such breach, including but not limited to damages, both direct and consequential.
In any action brought by Employer under this Section, Employer shall be entitled to recover its attorney’s fees and costs from
Employee.

 

6.
Ownership of Work Product.  The Parties agree that all work product, information or other materials created and developed by
Employee in connection with the performance of duties and responsibilities under this Agreement and any resulting intellectual property
rights are the sole and exclusive property of Employer. 

 

7.
Termination.

 

Each
Party may terminate this Agreement at any time for any reason by giving 5 days’ notice in writing to the other Party. During the notice
period, Employee and Employer agree to continue diligently fulfilling their duties and obligations in good faith with best efforts.

 

In
addition, Employee may terminate this Agreement immediately in the event Employee violates any provision of this Agreement.

 

Upon
termination of this Agreement and the employment with the Company, Employee agrees to return all Employer property, including but not
limited to computers, cell phones, and any other electronic devices. Employee shall reimburse Employer for any Employer property lost
or damaged in an amount equal to the market price of such property.

 

    2

     

    

 

9.
Miscellaneous. 

 

A.
Authority to Contract.  Employee acknowledges and agrees that Employee does not have authority to enter into any binding contracts
or commitments for or on behalf of Employer without first obtaining the prior written consent of Employer. 

 

B.
Governing Law.  The terms of this Agreement shall be governed exclusively by the laws of the Republic of Marshall Island (not
including its conflicts of law provisions). Any dispute arising from this Agreement shall be resolved through binding arbitration conducted
in accordance with the rules of the American Arbitration Association.

 

C.
Entire Agreement and Amendment. This Agreement constitutes the entire agreement between the Parties and supersedes all prior understandings
of the Parties. No supplement, modification or amendment of this Agreement will be binding unless executed in writing by both of the
Parties.

 

D.
Notices.  Any notice or other communication given or made to either Party under this Agreement shall be in writing and delivered
by hand, sent by overnight courier service or sent by certified or registered mail, return receipt requested, to the address stated above
or to another address as that Party may subsequently designate by notice and shall be deemed given on the date of delivery.

 

E.
Waiver.  Neither Party shall be deemed to have waived any provision of this Agreement or the exercise of any rights held under
this Agreement unless such waiver is made expressly and in writing. A waiver by either Party of a breach or violation of any provision
of this Agreement shall not constitute a waiver of any subsequent or other breach or violation.

 

F.
Further Assurances.  At the request of one Party, the other Party shall execute and deliver such other documents and take such
other actions as may be reasonably necessary to give effect the terms of this Agreement.

 

G.
Severability.  If any provision of this Agreement is found or declared to be invalid, illegal or unenforceable in whole or in
part, the remaining provisions shall not be affected and shall continue to be valid, legal and enforceable as though the invalid, illegal
or unenforceable parts had not been included in this Agreement.

 

H.
No Assignment.  The Employee’s responsibilities to Employer are personal in nature and cannot be delegated. 

 

    3

     

    

 

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

 

	Employee:	 
	 	 
	/s/ Sun Lei	 
	Sun Lei	 

 

Employer:

 

JX
Luxventure Limited

 

	By:	/s/
    Keyan Yan	 

	Keyan Yan	 
	Chief Financial OfficerBetter For You Wellness, Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

    

    COMMON SHARE OPTION CANCELLATION AND FORFEITURE AGREEMENT

    This Common Share Option Cancellation, Forfeiture Agreement (hereinafter "Agreement"), dated as of June 30, 2022, and effective as of the Effective Date (as defined herein), is made between Better For You Wellness, Inc. (the "Company") and Dr. Nicola Finley, MD (the "Optionee").

    WHEREAS, pursuant to that certain Director Agreement, dated as of August 29, 2021, between the Company and the Optionee (the "Director Agreement"), the Company granted an option to the Optionee to purchase 4,000,000 common shares of the Company ("Common Shares") as of September 30, 2021 (the "2021 Option"); and

    WHEREAS, the Optionee has requested that the Company cancel the 2021 Option, the Optionee desires to forfeit the 2021 Option and all rights thereunder, and the Company has agreed to such cancellation and forfeiture, effective as of the Effective Date.

    NOW, THEREFORE, the Company and the Optionee agree as follows:

    1. Option Cancellation and Forfeiture. The 2021 Option is hereby canceled, effective as of the Effective Date. Upon such cancellation, the Optionee shall have no further rights to exercise the 2021 Option or to acquire Common Shares pursuant to the 2021 Option. Such cancellation shall include the cancellation of the Common Shares of the 2021 Option that have vested and shall also include the cancellation of additional Common Shares of the 2021 Option that may vest prior to the Effective Date. Upon such forfeiture, the Optionee shall have no further rights to exercise the 2021 Option or to acquire Common Shares pursuant to the 2021 Option. The cancellation and forfeiture set forth in this Section 1 shall not affect the restricted Common Shares granted by the Company to the Optionee pursuant to the Director Agreement.

    2. Cancellation and Forfeiture Payment. As a payment in lieu of whatever benefits, if any, to which the Optionee may be entitled under the 2021 Option, and in exchange for the release of claims and covenants contained herein, the Company shall pay the Optionee the amount of $1 on the Effective Date.

    3. Optionee Release. Performance by the Company under this Agreement and the delivery of the good and valuable consideration described herein is conditioned upon the Optionee executing and delivering on the Effective Date a Waiver and Release in the form attached hereto as Exhibit A.

    4. Effective Date. As used in this Agreement, "Effective Date" shall mean the earlier to occur of (i) the date that the Company obtains all approvals of this Agreement and the transactions contemplated hereby, if any, required by applicable regulations, or (ii) the date on which the Company determines that such approval is not necessary.

    5. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the Company and the Optionee and their respective successors, heirs, and legal representatives. The Optionee's signature below on this Agreement affirms that he has read and understands all provisions of this Agreement and agrees to comply with all terms hereof.

    6. Entire Agreement. This Agreement constitutes the entire agreement between the Company and the Optionee and contains all the agreements between them with respect to the subject matter hereof; provided, however, that except to the extent set forth herein, this Agreement shall not affect any other agreements existing between the Company and the Optionee, including but not limited to the Employment Agreement, and provided further that, notwithstanding anything to the contrary herein, the Optionee shall remain eligible to receive future equity compensation awards from the Company.

    

    7. Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada and the federal laws of the United States applicable therein, without reference to principles of conflict of laws.

    [SIGNATURE PAGE TO FOLLOW]

    

    IN WITNESS WHEREOF, this Agreement has been executed and delivered by the parties hereto as of the day, month and year first set forth above.

     

     

    COMPANY:

     

     

    Better For You Wellness, Inc.

     

    	By:	
	 	 
	Name        	 
	:	Ian James
	 	 
	Its:	 
	 	Chief Executive Officer and Director

     

     

    OPTIONEE:

     

    Dr. Nicola Finley, MD

     

    	By:	
	 	 
	Name         	 
	:	Dr. Nicola Finley, MD

    

    

    Exhibit A

    WAIVER AND RELEASE

    Pursuant to that certain Common Share Option Cancellation and Forfeiture Agreement between the undersigned Optionee and Better For You Wellness, Inc. (the "Company") dated as of June 30, 2022 (the "Agreement"), Optionee has agreed as a condition of the Company's performance under the Agreement to execute and deliver this Waiver and Release. For good and valuable consideration under the Agreement, the receipt and sufficiency of which is hereby acknowledged, the Optionee hereby waives his rights under, and releases and discharges fully and forever the Company and its officers, directors and shareholders and each of its and their predecessors and successors from any and all present or future claims, demands, and causes of action arising from or in connection with, the 2021 Option, as such term is defined in the Agreement.

    	Date:  	7/11/2022

     

     

    OPTIONEE:

     

     

    Dr. Nicola Finley, MD

     

     

    	By:	
	 	 
	Name:         	 
	 	Nicola Finley

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