Document:

Exhibit 4.2

 

THIS WARRANT AND THE SECURITIES ISSUABLE
UPON EXERCISE HEREOF MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, OR HYPOTHECATED, OR BE THE SUBJECT OF ANY HEDGING, SHORT
SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION OF SUCH SECURITIES BY ANY PERSON
FOR A PERIOD OF one hundred and eighty (180) days IMMEDIATELY FOLLOWING THE DATE
OF EFFECTIVENESS OF THE PUBLIC OFFERING OF THE COMPANY’S SECURITIES PURSUANT TO REGISTRATION STATEMENT NO.: 333-[●]
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, EXCEPT IN ACCORDANCE WITH FINRA RULE 5110(G)(2).

 

REPRESENTATIVE’S WARRANT

 

FARMMI, INC.

 

	Warrant Shares: [●]	Issuance Date: [●] [●],2017

 

THIS REPRESENTATIVE’S
WARRANT (the “Warrant”) certifies that, for value received, ViewTrade Securities, Inc. or its assigns (the
“Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after the date that is 180 days from the effective date of the Registration Statement (the “Initial
Exercise Date”) and on or prior to the close of business on the three (3) year anniversary of the effective date of the
Registration Statement (the “Termination Date”) but not thereafter, to subscribe for and purchase from Farmmi,
Inc., a Cayman Islands exempted company (the “Company”), up to [●] Ordinary Shares (as subject to adjustment
hereunder, the “Warrant Shares”). The purchase price of one Warrant Share under this Warrant shall be equal
to the Exercise Price, as defined in Section 2(b).

 

Section 1.            Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Underwriting Agreement
(the “Agreement”), dated [●] [●], 2017, between the Company and ViewTrade Securities, Inc., as representative
of the several Underwriters named in Schedule A thereto.

 

Section 2.            Exercise.

 

(a)         Exercise
of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial
Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as
it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company)
of a duly executed facsimile copy of the Notice of Exercise form annexed hereto. Within three (3) trading days following the date
of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice
of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified
in Section 2(c) below is available and specified in the applicable Notice of Exercise. Notwithstanding anything herein to the contrary,
the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the
Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant
to the Company for cancellation within three (3) trading days of the date the final Notice of Exercise is delivered to the Company.
Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder
shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable
number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased
and the date of such purchases; provided that the records of the Company, absent manifest error, will be conclusive with respect
to the number of Warrant Shares purchasable from time to time hereunder. The Company shall deliver any objection to any Notice
of Exercise form within one (1) business day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant,
acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares
hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on
the face hereof. For purposes of this agreement, “business day” means any day other than a Saturday, Sunday or
any other day on which commercial banks are required or authorized to close in the City of New York, State of New York or the City
of Athens in the Country of Greece.

 

     

     

    

 

(b)         Exercise
Price. The exercise price per share of the Ordinary Shares under this Warrant shall be $[●] [120% of the public
offering price], subject to adjustment hereunder (the “Exercise Price”). Except as where otherwise permitted
in accordance with Section 2(c), this Warrant may only be exercised by means of payment by wire transfer or cashier’s check
drawn on a United States bank.

 

(c)         Cashless
Exercise. This Warrant may, at the option of the Holder, be exercised, in whole or in part, at such time by means of a “cashless
exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing
[(A-B) (X)] by (A), where:

 

(A) = the VWAP on the trading
day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless exercise,”
which shall be set forth in the applicable Notice of Exercise;

 

(B) = the Exercise Price
of this Warrant, as adjusted hereunder, at the time of exercise; and

 

(X) = the number of Warrant
Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were
by means of a cash exercise rather than a cashless exercise.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Ordinary Shares are then
listed or quoted on The New York Stock Exchange, the NYSE MKT or any tier of The NASDAQ Stock Market (each, a “Trading
Market”), the daily volume weighted average price of the Ordinary Shares for such date (or the nearest preceding date)
on the Trading Market on which the Ordinary Shares are then listed or quoted as reported by Bloomberg L.P. (“Bloomberg”)
(based on a trading day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if the Ordinary Shares
are listed or quoted on the OTCQB or OTCQX (each as operated by OTC Markets Group, Inc., or any successor market), the volume weighted
average price of the Ordinary Shares for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the
Ordinary Shares are not then listed or quoted for trading on the OTCQB or OTCQX Markets and if prices for the Ordinary Shares are
then reported in the OTC Pink Market published by OTC Markets Group Inc. (or a similar organization or agency succeeding to its
functions of reporting prices), the most recent bid price per share of the Ordinary Shares so reported, or (d) in all other
cases, the fair market value of an Ordinary Share as determined by an independent appraiser selected in good faith by the Board
of Directors of the Company and reasonably acceptable to the Holder, the fees and expenses of which shall be paid by the Company. 

 

(d)         Mechanics
of Exercise.

 

(i)           Delivery
of Warrant Shares Upon Exercise. The Company shall use its reasonable best efforts to cause the Warrant Shares purchased hereunder
to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or
resale of the Warrant Shares or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical delivery to
the address specified by the Holder in the Notice of Exercise by the date that is two (2) trading days after the latest of (A)
the delivery to the Company of the Notice of Exercise, (B) surrender of this Warrant (if required) and (C) receipt by the Company
of the aggregate Exercise Price as set forth above (including by cashless exercise, if permitted) (such date, the “Warrant
Share Delivery Date”). The Warrant Shares shall be deemed to have been issued, and the Holder or any other person so
designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date
the Warrant has been exercised and payment to the Company of the aggregate Exercise Price (or by cashless exercise, if permitted)
has been received by the Company and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior to
the issuance of such shares have been paid.

 

(ii)          Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

     

     

    

 

(iii)         Rescission
Rights. If the Company fails to cause its transfer agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

(iv)         Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to an exercise on or before
the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction
or otherwise) or the Holder’s brokerage firm otherwise purchases, Ordinary Shares to deliver in satisfaction of a sale by
the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then
the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including
brokerage commissions, if any) for the Ordinary Shares so purchased exceeds (y) the amount obtained by multiplying (1) the number
of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the
price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either
reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which
case such exercise shall be deemed rescinded) or deliver to the Holder the number of Ordinary Shares that would have been issued
had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Ordinary
Shares having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of Warrant Shares with
an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence
the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts
payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein
shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver
Ordinary Shares upon exercise of the Warrant as required pursuant to the terms hereof.  

 

(v)           No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

(vi)           Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;
provided, however, that, in the event Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder
and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise.

 

(vii)           Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

     

     

    

 

(e)          Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after
exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other
Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess of
the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of Ordinary Shares
beneficially owned by the Holder and its Affiliates shall include the number of Ordinary Shares which are issuable upon exercise
of this Warrant with respect to which such determination is being made, but shall exclude the number of Ordinary Shares which would
be issuable upon (i) exercise of the remaining, non-exercised portion of this Warrant beneficially owned by the Holder or any of
its Affiliates and (ii) exercise or conversion of the unexercised or non-converted portion of any other securities of the Company
(including, without limitation, any other securities of the Company which by their terms are convertible into or exercisable for
Ordinary Shares (“Ordinary Share Equivalents”) subject to a limitation on conversion or exercise analogous to
the limitation contained herein beneficially owned by the Holder or any of its Affiliates.  Except as set forth in the preceding
sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the 1934
Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing
to the Holder that such calculation is in compliance with Section 13(d) of the 1934 Act and the Holder is solely responsible for
any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies,
the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any
Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission
of a Notice of Exercise shall be deemed to be the Holder’s determination of whether, and representation and certification
to the Company that, this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates)
and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the 1934 Act and the rules and regulations
promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding Ordinary Shares, a Holder may
rely on the number of outstanding Ordinary Shares as reflected in (A) the Company’s most recent periodic or annual report
filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written
notice by the Company or the Transfer Agent setting forth the number of Ordinary Shares outstanding.  Upon the written or
oral request of a Holder, the Company shall within two (2) trading days confirm orally and in writing to the Holder the number
of Ordinary Shares then outstanding.  In any case, the number of outstanding Ordinary Shares shall be determined after giving
effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates since
the date as of which such number of outstanding Ordinary Shares was reported. The “Beneficial Ownership Limitation”
shall be 4.99% of the number of Ordinary Shares outstanding immediately after giving effect to the issuance of Warrant Shares issuable
upon exercise of this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company, may increase or decrease
the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event
exceeds 9.99% of the number of Ordinary Shares outstanding immediately after giving effect to the issuance of Ordinary Shares upon
exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any such increase
or decrease will not be effective until the 61st day after such notice is delivered to the Company. The provisions of
this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section
2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership
Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation.
The limitations contained in this paragraph shall apply to a successor holder of this Warrant. 

 

Section 3.             Certain
Adjustments.

 

(a)          Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions pro rata to the record holders of its Ordinary Shares of its Ordinary Shares or any other
equity or equity equivalent securities payable in Ordinary Shares (which, for avoidance of doubt, shall not include any Ordinary
Shares issued by the Company upon exercise of this Warrant), (ii) subdivides its outstanding Ordinary Shares into a larger number
of shares, (iii) combines (including by way of reverse stock split) its outstanding Ordinary Shares into a smaller number of shares,
or (iv) issues by reclassification of the Ordinary Shares any shares of capital stock of the Company, then in each case the Exercise
Price shall be multiplied by a fraction of which the numerator shall be the number of Ordinary Shares (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of Ordinary Shares outstanding
immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted
such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a)
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

     

     

    

 

(b)         Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time during which this Warrant is
outstanding the Company grants, issues or sells any Ordinary Share Equivalents or other rights to purchase stock, warrants, securities
or other property pro rata to the record holders of any class of Ordinary Shares (the “Purchase Rights”), then
the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which
the Holder could have acquired if the Holder had held the number of Ordinary Shares acquirable upon complete exercise of this Warrant
(without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately
before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken,
the date as of which the record holders of Ordinary Shares are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder
exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such Ordinary Shares as a result of such Purchase Right to such extent) and such Purchase Right
to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the
Holder exceeding the Beneficial Ownership Limitation). The provisions of this Section 3(b) will not apply to any grant, issuance
or sale of Ordinary Share Equivalents or other rights to purchase stock, warrants, securities or other property of the Company
which is not made pro rata to the record holders of any class of Ordinary Shares. 

 

(c)         Extraordinary
Distributions. If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire
its assets) to holders of Ordinary Shares , by way of return of capital or otherwise (including, without limitation, any distribution
of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement,
scheme of arrangement or other similar transaction), except to the extent an adjustment was already made pursuant to Section
3(a) or 3(b) and other than regular quarterly or other periodic dividends that may be initiated in the future (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, then the Exercise Price shall be decreased, effective
immediately after the effective date of such Distribution, by the amount of cash and/or the fair market value (as determined by
the Company’s Board of Directors, in good faith) of any securities or other assets paid on each Ordinary Share in respect
of such Distribution in order that subsequent thereto upon exercise of this Warrant the Holder may obtain the equivalent benefit
of such Distribution.

 

     

     

    

 

(d)         Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Ordinary Shares are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Ordinary
Shares , (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary Shares are effectively
converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more
related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons (other than (but
except in the case of a “Rule 13e-3 transaction” transaction as defined in Rule 13e-3 promulgated under the 1934 Act
involving), whereby such other Person or group acquires more than 50% of the outstanding Ordinary Shares (not including any Ordinary
Shares held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making
or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would
have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction (without regard to any
limitation in Section 2(e) on the exercise of this Warrant), the number of shares of common equity of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of Ordinary Shares for which this Warrant is exercisable
immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant),
without duplication of the Successor Entity securities deliverable under Section 3(e) below. For purposes of any such exercise,
the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount
of Alternate Consideration issuable in respect of one Ordinary Share in such Fundamental Transaction, and the Company shall apportion
the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components
of the Alternate Consideration. If holders of Ordinary Shares are given any choice as to the securities, cash or property to be
received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives
upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the event
of a Fundamental Transaction that is (1) an all cash transaction, (2) a “Rule 13e-3 transaction” as defined in Rule
13e-3 under the 1934 Act, or (3) a Fundamental Transaction involving a person or entity not traded on a Trading Market the Company
or any Successor Entity (as defined below) shall, at the option of the Holder or the Company or any Successor Entity, exercisable
at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction, purchase this Warrant
from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value of the remaining unexercised portion
of this Warrant on the date of the exercise of the option. “Black Scholes Value” means the value of this Warrant
based on the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg determined as of the
day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate
corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable
Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility
obtained from the HVT function on Bloomberg as of the trading day immediately following the public announcement of the applicable
Fundamental Transaction, or, if the Fundamental Transaction is not publicly announced, the date the Fundamental Transaction is
consummated, (C) the underlying price per share used in such calculation shall be the sum of the price per share being offered
in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (D) a
remaining option time equal to the time between the date of the public announcement of the applicable Fundamental Transaction and
the Termination Date. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the
survivor (the “Successor Entity”) and for which stockholders of the Company received any equity securities of
the Successor Entity to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions
of this Section 3(e), and to deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by
a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number
of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the Ordinary Shares acquirable and receivable
upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction,
and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account
the relative value of the Ordinary Shares pursuant to such Fundamental Transaction and the value of such shares of capital stock,
such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant
immediately prior to the consummation of such Fundamental Transaction). Upon the occurrence of any such Fundamental Transaction,
the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to
the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company
under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company
herein. 

 

(f)           Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest whole share, as the case may be. For purposes
of this Section 3, the number of Ordinary Shares deemed to be issued and outstanding as of a given date shall be the sum of the
number of Ordinary Shares (excluding treasury shares, if any) issued and outstanding.

 

(g)          Notice
to Holder.

 

(i)           Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of
Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

     

     

    

 

(ii)           Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Ordinary Shares , (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary Shares
, (C) the Company shall authorize the granting to all holders of the Ordinary Shares rights or warrants to subscribe for or purchase
any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required
in connection with any reclassification of the Ordinary Shares , any consolidation or merger to which the Company is a party, any
sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Ordinary
Shares are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution,
liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder
at its last address as it shall appear upon the Warrant Register of the Company, at least 10 business days prior to the applicable
record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose
of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders
of the Ordinary Shares of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective
or close, and the date as of which it is expected that holders of the Ordinary Shares of record shall be entitled to exchange their
Ordinary Shares for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer
or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect
the validity of the corporate action required to be specified in such notice. To the extent that any notice provided hereunder
constitutes, or contains, material, non-public information regarding the Company, the Company shall simultaneously file such notice
with the Commission pursuant to a Form 6-K. The Holder shall remain entitled to exercise this Warrant during the period commencing
on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth
herein.

 

Section 4.            Transfer
of Warrant.

 

(a)          Transferability.
This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in
part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment
of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient
to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company
shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly assigned in accordance
herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued. Neither
this Warrant nor any Warrant Shares issued upon exercise of this Warrant shall be sold, transferred, assigned, pledged, or hypothecated,
or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic
disposition of the securities by any person for a period of 180 days immediately following the date of effectiveness or commencement
of sales of the offering pursuant to which this Warrant is being issued, except the transfer of any security:

 

(i)           by
operation of law or by reason of reorganization of the Company;

 

(ii)          to
any FINRA member firm participating in the offering and the officers or partners thereof, if all securities so transferred remain
subject to the lock-up restriction in this Section 4(a) for the remainder of the time period; or

 

(iii)         the
exercise or conversion of any security, if all securities received remain subject to the lock-up restriction in this Section 4(a)
for the remainder of the time period.

 

(b)          New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial
issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant
thereto.

 

     

     

    

 

(c)         Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

Section
5.            Registration Rights. To the extent the
Company does not maintain an effective registration statement for the Warrant Shares and cashless exercise is unavailable to
any Holder under Section 2(c) hereof pursuant to which all of the Warrant Shares issuable upon exercise of the Warrants under
Section 2(c) would be tradable upon exercise of this Warrant upon issuance, and in the further event that the Company files a
registration statement with the Securities and Exchange Commission to register its Ordinary Shares (other than a registration
statement on Form S-4 or S-8, or on another form, or in another context, in which such “piggyback”
registration would be inappropriate), then, for a period of three  (3) years from the effective date of the Registration
Statement, the Company shall give written notice of such proposed filing to the Holder as soon as practicable but in no event
less than thirty (30) days before the anticipated filing date, which notice shall describe the amount and type of securities
to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing underwriter or
underwriters, if any, of the offering, and offer to the Holder in such notice the opportunity to register the sale of such
number of shares of Warrant Shares as such Holder may request in writing within five (5) days following receipt of such
notice (a “Piggyback Registration”). The Company shall cause such Warrant Shares to be included in
such registration and shall use its reasonable best efforts to cause the managing underwriter or underwriters of a proposed
underwritten offering to permit the Warrant Shares requested to be included in a Piggyback Registration on the same terms and
conditions as any similar securities of the Company and to permit the sale or other disposition of such Warrant Shares in
accordance with the intended method(s) of distribution thereof. All Holders proposing to distribute their securities through
a Piggyback Registration that involves an underwriter or underwriters shall enter into an underwriting agreement in customary
form with the underwriter or underwriters selected for such Piggyback Registration.

 

 Section 6.            Miscellaneous.

 

(a)          No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividend rights or other
rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth
in Section 3.

 

(b)          Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

(c)         Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a business day, then, such action may be taken or such right may be exercised on the next succeeding
business day.

 

(d)         Authorized
Shares.

 

(i)          The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Ordinary
Shares a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of executing stock certificates to execute and issue the necessary Warrant Shares upon the exercise
of the purchase rights under this Warrant. The Company will take all such commercially reasonable action as may be necessary to
assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any
requirements of the Trading Market upon which the Ordinary Shares may be listed. The Company covenants that all Warrant Shares
which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights
represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully
paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other
than taxes in respect of any transfer occurring contemporaneously with such issue).

 

     

     

    

 

(ii)          Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms
of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such
actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without
limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount
payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary
or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise
of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any
public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under
this Warrant.

 

(iii)          Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

(e)         Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the laws of the State of New York, without regard to conflict of laws principles, and federal or state courts sitting in the
State of New York shall have exclusive jurisdiction over matters arising out of this Warrant.

 

(f)          Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does
not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

(g)          Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision
of this Warrant or the Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which
results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover
any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings,
incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies
hereunder. 

 

(h)          Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Agreement.

 

(i)          Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Ordinary Shares or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

(j)          Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

     

     

    

 

(k)          Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of this Warrant.

 

(l)          Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

(m)         Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

(n)          Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

********************

 

     

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Representative’s Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

	 	FARMMI, INC. 
	 	 
	 	By: 	 
	 	 	Name: 
	 	 	Title: 

 

     

     

    

 

NOTICE OF EXERCISE

 

To:
      FARMMI, INC.

 

(1) The undersigned hereby
elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant, dated _______, 2017, and
tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2) Payment shall take the
form of (check applicable box):

 

 ̈ in
lawful money of the United States by wire transfer or cashier’s check drawn on a United States bank; or

 

 ̈ if
permitted by the terms of the Warrant, the cancellation of such number of Warrant Shares as is necessary, in accordance with the
formula set forth in subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable
pursuant to the cashless exercise procedure set forth in subsection 2(c).

 

(3) Please issue said Warrant
Shares in the name of the undersigned or in such other name as is specified below:

 

	 	 	 

 

The Warrant Shares shall be delivered to the
following DWAC Account Number:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

[SIGNATURE
OF HOLDER]

 

	Name of Investing Entity:	 

 

	Signature of Authorized Signatory of Investing Entity:	 

 

	Name of Authorized Signatory:	 

 

	Title of Authorized Signatory:	 

 

	Date:	 

 

     

     

    

 

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, [____]
all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to _______________________________________________
whose address is _______________________________________________________________.  

 

Date: ______________

 

	 	Holder’s Signature:	 
	 	 	 
	 	Holder’s Address:	 
	 	 	 
	 	 	 

 

NOTE: The signature to this Assignment Form
must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever,
and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative
capacity should file proper evidence of authority to assign the foregoing Warrant.Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(“Agreement”) is entered into this 3rd day of March, 2017 (the “Effective Date”) by and between YEFANG
ZHANG (“Employee”) and FARMMI, INC., (“Farmmi”).

 

WHEREAS, Farmmi desires
to employ Employee as the Chief Executive Officer of FARMMI, the parent company of its subsidiaries (Farmmi International Limited,
Farmmi (Hangzhou) Enterprise Management Co., Ltd., Hangzhou Suyuan Agriculture Technology Co., Ltd., Hangzhou Nongyuan Network
Technology Co., Ltd, Lishui Farmmi Technology Co., Ltd., Zhejiang FLS Mushroom Co., Ltd., and Zhejiang Forest Food Co., Ltd. are
all referred to collectively herein as “Farmmi”); and

 

WHEREAS, Employee
and Farmmi desire to establish and govern the employment relationship under the terms and conditions set forth in this Agreement;
and

 

NOW, THEREFORE, in consideration of the
mutual covenants and promises set forth herein, the adequacy of which is acknowledged, Employee and Farmmi hereby agree as follows:

 

1.            Employment.
Employee is being employed by Farmmi as the Chief Executive Officer upon and subject to the terms and conditions of this Agreement.
During the term of her employment under this Agreement, Employee shall report to Farmmi’s Board of Directors, or to such
other persons as Farmmi may designate from time to time. Farmmi reserves the right to change Employee’s title, duties, and
reporting relationships as may be determined by it to be in the best interests of Farmmi.

 

2.            Duties.

 

(a)          During
the term of her employment under this Agreement, Employee will perform her duties hereunder at such time or times as Farmmi may
reasonably request. Employee’s duties may be varied by Farmmi from time to time without violating the terms of this Agreement
and shall include: (i) devoting her best efforts and her entire business time to further properly the interests and revenues of
Farmmi to the satisfaction of Farmmi, (ii) being subject to Farmmi’s direction and control at all times with respect to
her activities on behalf of Farmmi, (iii) complying with all rules, orders, regulations, policies, practices and decisions of
Farmmi, (iv) truthfully and accurately maintaining and preserving all records and making all reports as Farmmi may require, and
(v) fully accounting for all monies and other property of Farmmi of which she may from time to time have custody and delivering
the same to Farmmi whenever and however directed to do so.

 

(b)          In
performing her duties, Employee shall not undertake any action inconsistent with or harmful to the best interests of Farmmi. Employee
shall perform her duties and responsibilities in a professional manner and consistent with the overall goals and objectives of
Farmmi and applicable federal, state, and local law.

 

     

     

    

 

(c)          In
performing her duties, Employee shall be familiar with and shall comply with: (i) all applicable federal, state, and local laws
and regulations; (ii) the policies and decisions of Farmmi’s Board of Directors; and (iii) all policies, procedures, and
requirements enacted by Farmmi’s Board of Directors, as they may be amended from time to time. Employee agrees to adhere
to and support Farmmi’s policies and practices as set forth in any employee handbook or policy manual. Employee acknowledges
and agrees that Farmmi may amend or update its employee handbooks or policy manuals from time to time by written notice to Employee.

 

(d)          During
her employment with Farmmi, Employee shall devote her full time, attention, and best efforts to the operations of Farmmi and the
fulfillment of her duties. Employee agrees that, during her employment with Farmmi, she will exercise the highest degree of loyalty
and will conduct her duties with the highest degree of care. During her employment with Farmmi, Employee shall not directly or
indirectly engage in any other business activity, whether as an employee, employer, consultant, principal, officer, or otherwise
and whether or not done for compensation, gain, or other financial or economic advantage.

 

3.            Compensation.
For all services rendered by Employee to Farmmi, Farmmi shall pay Employee an base gross annual salary of Three Hundred Thousand
RMB (¥300,000), paid by Zhejiang Forest Food Co., Ltd.,
a PRC company (“Forest Food”) (also referred to as 浙江富来森食品有限公司
in Chinese) and Hangzhou Nongyuan Network Technology Co., Ltd., a PRC company (“Nongyuan Network”) (also referred
to as 杭州农源网络科技有限公司
in Chinese). Employee’s annual gross salary will be paid to Employee in accordance with Farmmi’s standard payroll
policies and practices, beginning with the first regularly scheduled pay date following the Effective Date of this Agreement.
Employee understands and acknowledges that the base gross annual salary to be paid to her under this Agreement will be reduced
by all applicable payroll and withholding taxes and any other deductions authorized by Employee for the provision of employee
benefits or otherwise. Farmmi will conduct an annual performance review of Employee, and any changes in Employee’s salary
shall be determined in the sole discretion of Farmmi.

 

4.            Expenses.
Farmmi shall reimburse Employee for all ordinary and necessary out-of-pocket expenses incurred and paid by Employee in the course
of the performance of Employee’s duties pursuant to this Agreement, provided that Employee incurred such expenses consistent
with Farmmi’s policies in effect from time to time with respect to travel, entertainment and other business expenses. To
receive such expenses reimbursement, Employee shall submit written requests, along with supporting documentation and/or receipts,
in compliance with Farmmi’s requirements with respect to the manner of approval and reporting of such expenses.

 

5.            Additional
Benefits.

 

(a)          Subject
to meeting the eligibility requirements to participate in such plans under the terms and conditions established by the plans,
Employee shall be eligible to participate in all employee benefits programs provided by Farmmi to its employees, as such may be
established and modified from time to time in the discretion of Farmmi. However, nothing contained in this Agreement shall be
construed to obligate Farmmi in any manner to maintain any existing plans, put into effect any plans not presently in existence,
or provide special benefits to Employee.

 

    	 	2	 

     

    

 

(b)          During
the term of this Agreement, Employee shall be entitled to all national statutory annual paid vacation leave per year. Employee
understands and agrees that all vacation time shall be approved by the Chair of the Board before Employee takes such leave. Employee’s
ability to carry over unused vacation leave from year to year and to receive payment for unused vacation leave upon termination
of employment shall be governed by Farmmi’s policies in existence at the time of such occurrence.

 

6.            Indemnity.
Farmmi will indemnify Employee against all expenses, including legal fees, and against all judgments, fines and amounts paid in
settlement and reasonably incurred in connection with civil, criminal, administrative or investigative proceedings to which Employee
is party or are threatened to be made a party by reason of Employee acting as the Chief Executive Officer. To be entitled to indemnification,
Employee must have acted honestly and in good faith with a view to the best interest of Farmmi and, in the case of criminal proceedings,
Employee must have had no reasonable cause to believe Employee’s conduct was unlawful. Such limitation of liability does
not affect the availability of equitable remedies such as injunctive relief or rescission. These provisions will not limit Employee’s
liability under United States federal securities laws.

 

7.            Termination.

 

(a)          Either
party may terminate this Agreement at any time, for any reason or for no reason, with or without cause, upon thirty (30) days’
written notice to the other party.

 

(b)          Notwithstanding
Paragraph 7(a) above, Employee’s employment with Farmmi shall terminate immediately upon: (i) the death, disability, or
adjudication of legal incompetence of Employee; (ii) Farmmi’s ceasing to carry on its business without assigning this Agreement;
or (iii) Farmmi becoming bankrupt. For purposes of this Agreement, Employee shall be deemed to be disabled when Employee has become
unable, by reason of physical or mental disability, to satisfactorily perform the essential functions of her job and there is
no reasonable accommodation that can be provided to enable her to perform satisfactorily those essential functions. Such matters
shall be determined by, or to the reasonable satisfaction of, Farmmi.

 

(c)          Notwithstanding
Paragraph 7(a) above, Farmmi may immediately terminate this Agreement for cause, effective upon the provision of notice to Employee,
for the following reasons: (i) Employee’s repeated failure to satisfactorily and substantially perform her duties as an
employee of Farmmi (other than any such failure resulting from a disability), which failure has continued without remedy for more
than thirty (30) days after Farmmi has provided written notice thereof; (ii) Employee’s dishonesty, incompetence, willful
misconduct, gross negligence, or breach of fiduciary duty; (iii) failure to comply with the lawful directives of Farmmi’s
Board of Directors; (iv) failure to abide by and/or comply with any laws or regulations governing or relating to the operations
of Farmmi; (v) failure to abide by and/or comply with any other applicable laws, including, but not limited to, laws prohibiting
discrimination and harassment in the workplace; (vi) theft, misappropriation, or misuse of Farmmi’s property or assets;
(vii) Employee’s conviction of or plea of guilty or nolo contendere to any felony or any other crime involving theft, dishonesty,
or fraudulent conduct; or (viii) breach of Employee’s obligations under this Agreement.

 

    	 	3	 

     

    

 

(d)          In
the event Employee’s employment with Farmmi is terminated by Employee or Employer for any or no reason, Farmmi shall pay
or provide to Employee any salary that Employee shall have earned and not yet received through the date of such employment termination,
determined on a pro rata basis based on the number of work days in the month of termination.

 

8.            Employee
Covenants.

 

(a)          Non-Disclosure
and Return of Confidential Information.

 

(i)          Employee
acknowledges that, as an employee of Farmmi, Employee will be provided access to, and may develop or assist in developing on Farmmi’s
behalf, confidential and proprietary information and trade secrets. As used in this Agreement, “Confidential Information”
shall be deemed to include, but shall not be limited to, information and materials related to Farmmi’s business procedures,
methods, and manufacturing processes for producing its products; marketing plans and strategies; customer lists, business histories,
customer presentations, strategic business opportunities and plans; market research, analyses of customer information, and prospective
customer lists; pricing of goods sold, margins, and sales strategies; accounting, operational, organizational, and financial data,
processes, and services; technical know-how; research and development; proprietary computer software and hardware; and any other
information that is not generally known to the public or within the industry in which Farmmi competes. “Confidential Information”
shall also be deemed to include information or material received by Farmmi from others and intended by them to be kept in confidence
by its recipients. “Confidential Information” shall not include Employee’s general skills and knowledge concerning
general business practices not specific to Farmmi’s business, nor shall it include information that has become widely disseminated
and generally available to the public through no wrongful act or omission on the part of Employee.

 

(ii)         At
all times during and after employment with Farmmi, Employee shall take all reasonable steps necessary to preserve the confidential
and proprietary nature of Confidential Information and to prevent the inadvertent or accidental disclosure of Confidential Information.
Employee will not use, disclose, transfer, or make available any Confidential Information other than: (i) as required by the proper
performance of Employee’s duties for Farmmi; (ii) as authorized by Farmmi; and (iii) as required by an order or subpoena
from a court of competent jurisdiction and/or administrative agency, provided that, prior to such disclosure, Employee promptly
notifies Farmmi so that Farmmi may take appropriate action with such court or agency to protect its Confidential Information.
Employee will not remove any Confidential Information from Farmmi’s premises or make copies of such materials except for
use in Farmmi’s business. Employee shall not retain any tangible, intangible, or electronic copies of any Confidential Information
after the termination of her employment with Farmmi for any reason.

 

(iii)        If
part of the Confidential Information is known by public, but other parts or the whole is not public knowledge yet, the whole Confidential
Information still has confidential value. Employee agrees to have non-disclosure covenant for such Confidential Information. Employee
shall not disclose such information directly or indirectly, or solicit any third party to put together Confidential Information
by collecting the public part(s).

 

    	 	4	 

     

    

 

(iv)        During
her employment with Farmmi, for the interest of Farmmi, Employee shall promptly report to Farmmi the Confidential Information
arising out of work, submit a written report, and assist Farmmi to obtain the right of such information. Such Confidential Information
shall be owned Farmmi exclusively. During employment with Farmmi, employee shall fully disclose all of her conceptions about Farmmi’s
business to Farmmi.

 

(v)         The
compensation paid to Employee by Farmmi has included all the consideration for Employee to perform the covenants in Paragraph
8(a).

 

(vi)        Employee
warrants that, unless Employee has stated to Farmmi in writing, Employee’s usage or disclosure of any confidential information
during employment with Farmmi does not violate any confidentiality agreement between Employee and any previous employer or other
party. No matter if Employee is bound by such confidentiality agreement, Employee shall not disclose it to Farmmi, or solicit
Farmmi to use any confidential information of Employee’s any previous employer or other party.

 

(b)          Non-Compete.

 

(i)          Employee
acknowledges that, during the course of her employment, Employee will be granted access to and may develop or assist in developing
Farmmi’s Confidential Information and goodwill. Employee recognizes and agrees that in light of her extensive access to
and knowledge of such Confidential Information and in order to protect Farmmi’s goodwill with its customers, Farmmi has
a reasonable and legitimate interest in protecting itself from unfair competition as set forth in subsection (ii).

 

(ii)         Non-Compete
Period is the course of employment with Farmmi and a period of two (2) years after Employee’s employment with Farmmi ceases
(whether voluntarily or involuntarily and for whatever reason) . During the Non-Compete Period, Employee shall not, on her own
behalf or on behalf of any other person or entity, compete with Farmmi by engaging in a position where Employee holds any registered
or beneficial ownership/stock interest, or as its employee, consultant, management, director or other capacity, holds any interest
of any company or entity that competes with the goods and services provided by Farmmi, or helps or assists such company by any
way; (ii) usurp business opportunities provided by other parties to Farmmi, use Farmmi’s resources to create any business
opportunity for herself; take commission fee related to Farmmi’s transactions, sign contracts or conduct transactions with
Farmmi without proper approval under internal rules of Farmmi; or conduct other actions detrimental to Farmmi’s interests
and/or competitive position, (iii) use any of Farmmi’s names, any other name that Farmmi uses to operate business, or any
similar name, or use such name to build or create any entrepreneur entity, organization or domain name, or use it in any other
way without written consent of Farmmi, or (iv) call herself employee of Farmmi or related with Farmmi in any way, after termination
of her employment with Farmmi. This restriction shall only apply within any geographic area serviced by Employee for Farmmi at
any time during the one (1) year period preceding Employee’s termination of employment.

 

    	 	5	 

     

    

 

(iii)        During
the Non-Compete Period, if Employee continues performing all the covenants in Paragraph 8(b), Farmmi will pay Employee compensation.
The calculation of such compensation is: if Employee continues performing non-compete covenant within twenty (24) months after
the termination of employment, Farmmi will pay Employee compensation equaling to six (6) months of base salary prior to the termination
of employment and pay it month by month. Employee confirms that such compensation is enough and reasonable. Employee further agrees
that Farmmi has the right at its sole discretion to choose to pay consideration for Employee to perform the covenants in Paragraph
8(b), or choose to cease payment of consideration to waive Employee’s covenants in Paragraph 8(b). Farmmi has the right
at its sole discretion to require Employee to continue to perform the non-compete covenant (but the term shall not exceed 24 months
after the termination of the employment).

 

(iv)        The
benefits obtained (including already obtained or agreed to obtain) by Employee through conducting restricted actions in the Non-Compete
Period shall belong to Farmmi.

 

(c)          Non-Solicitation
of Customers. Employee specifically agrees that, at all times during her employment with Farmmi and for a period of two (2)
years Employee will not solicit or offer to any Customer of Farmmi any goods or services that compete with the goods or services
provided by Farmmi. For purposes of this Agreement, the term “Customer” means: (i) any person or entity that contracted
with Farmmi for goods or services at any time during the twelve (12) month period preceding the Employee's termination of employment;
and (ii) any person or entity to whom Farmmi made a proposal or presentation for the provision of goods or services at any time
during the six (6) month period preceding Employee’s termination of employment. Except as set forth in Paragraph 8(b), this
restriction is not intended to prohibit Employee from providing goods or services to persons or entities who are not Customers
of Company.

 

(d)          Non-Solicitation
of Employees. Employee specifically agrees that, at all times during her employment with Farmmi and for a period of two (2)
years after Employee’s employment with Farmmi ceases (whether voluntarily or involuntarily and for whatever reason), Employee
shall not, on Employee’s own behalf or on behalf of any other person or entity, hire, recruit, solicit for employment, or
assist in solicitation or hiring any other employee who works for Farmmi. This includes, but is not limited to: (i) providing
to any such prospective employer the identities of any of Farmmi’s employees; (ii) providing to any such prospective employer
information about the quantity of work, quality of work, special knowledge, or personal characteristics of any person who is still
employed at the Farmmi at the time such information is provided; and/or (iii) assisting any of Farmmi’s employees in obtaining
employment with any such prospective employer through the dissemination of resumes and applications, or otherwise. Employee also
specifically agrees that she will not provide the information set forth in subparts (i), (ii), or (iii) above to any prospective
employer during interviews preceding possible employment.

 

(e)          Intellectual
Property.

 

(i)          Employee
agrees to disclose to Farmmi all inventions, ideas, works of authorship and other trade secrets made, developed and/or conceived
by her and arising out of Employee’s employment at all times during her employment with Farmmi and for a period of one (1)
year.

 

    	 	6	 

     

    

 

(ii)         Employee
further agrees that all such inventions, ideas, works of authorship and other trade secrets made shall be “works made for
hire” and that Farmmi shall be deemed the author thereof under the U.S. Copyright Act or other applicable law, and all work
product is and shall be free from any claim or retention of rights thereto on the part of Employee.

 

(iii)        In
any event and at any time, Employee hereby irrevocably assigns to Farmmi any and all right, title interest in such inventions,
ideas, works of authorship and other trade secrets made, including any and all patents and/or copyrights in connection with any
of the foregoing, and agrees to do any and all acts necessary, and sign any and all instruments, which Farmmi may request to secure
all rights related to the foregoing in the United States or in any foreign country.

 

(iv)        By
exhibit to this Agreement, Employee lists all inventions she owns, including the ones she invents by herself and the ones she
invents with others. All the inventions, completed prior to the employment with Farmmi, and owned by Employee, or although owned
by third party but Employee can use within the scope of agreement, are called Prior Inventions. If no exhibit discloses such inventions,
it deems that Employee states such Prior Invention does not exist. If, during her employment with Farmmi, Employee uses any Prior
Invention on products, service, procedure, or machine equipment of Farmmi, Farmmi automatically gets non-exclusive, free, irrevocable,
permanent and global license (including sublicensing to others through different levels of sublicense) to produce, modify, use
and sell such Prior Invention. In light of the foregoing, Employee agrees that, without prior written consent of Farmmi, Employee
shall not use any Prior Invention which has been used on Farmmi’s products or service, or authorize others to use.

 

(v)         During
her employment with Farmmi, Employee confirms the compensation paid from Farmmi to Employee fully covers the work for enforcing
the invention, such as proposal of concept, creation, development, improvement or simplification. Employee represents to give
up all legal priority rights to apply patent or trademark, rights to transfer any invention or technology products, and rights
to claim or challenge the ownership of “works made for hire.”

 

(vi)        Employee
acknowledges and agrees that the covenants and rights in Paragraph 8(e) will be effective for an indefinite period, and will not
be restricted by the termination of employment with Farmmi.

 

    	 	7	 

     

    

 

(f)           Return
of Company Property.

 

Upon the request of
Farmmi or upon the termination of Employee’s employment with Farmmi for any reason, Employee shall return to Farmmi: (a)
all Confidential Information; (b) all other records, designs, patents, business plans, financial statements, manuals, memoranda,
lists, correspondence, reports, records, charts, advertising materials, and other data or property delivered to or compiled by
Employee by or on behalf of Farmmi or its operating subsidiaries, or their representatives, vendors, or customers that pertain
to Farmmi’s business, whether in paper, electronic, or other form; and (c) all keys, credit cards, computers, telephones,
PDA’s, equipment, and other property of Farmmi. Employee shall not retain or cause to be retained any copies of the foregoing.
Employee hereby agrees that all of the foregoing shall be and remain the property of Farmmi, and be subject, at all times to its
discretion and control.

 

(g)          Enforcement.

 

(i)          Employee
and Farmmi have examined in detail the covenants and restrictions set forth in Paragraph 8 (including all subsections) of this
Agreement and agree that the restraints imposed upon Employee are reasonable in light of the legitimate interests of Farmmi and
are not unduly restrictive of Employee’s ability to earn a living following the termination of her employment.

 

(ii)         Employee
understands and agrees that the covenants and restrictions set forth in Paragraph 8 (including all subsections) of this Agreement
survive the termination of her employment (regardless of the reason) and remain binding and enforceable against her according
to the restrictions’ respective terms.

 

(iii)        If
any of the covenants contained in Paragraph 8 (including all subsections) of this Agreement are held by a court or other enforcement
authority to be overly broad by reason of time period, geography or scope, the court shall modify any time period, geography or
scope deemed overly broad to the maximum time period, geography or scope that such court or other enforcement authority finds
reasonable and enforceable in light of all the circumstances present at the time such determination is made and this Agreement
shall be deemed to be amended at such time to reflect such determination.

 

(iv)        Employee
agrees that a breach by her of any of the covenants and restrictions set forth in Paragraph 8 (including all subsections) of this
Agreement will result in irreparable injury to Farmmi for which a remedy at law shall be insufficient. Employee agrees that in
the event of a breach or threatened breach of such covenants, Farmmi shall be entitled to temporary, preliminary, and permanent
injunctive relief without the need to prove irreparable harm and without the necessity of placing a bond for such injunction.
The application of any form of injunctive relief shall not make any other legal or equitable remedy unavailable.

 

(v)         In
the event that the Employee is found by a court or other enforcement authority to have breached any of the covenants and restrictions
set forth in Paragraph 8 (including all subsections) of this Agreement, then the time periods set forth in such restrictions,
if any, shall automatically be extended by the length of time which Employee shall have been in breach of any of said provisions.

 

9.            Survival
of Obligations. All obligations of Employee that by their nature involve performance after the expiration or termination of
Employee’s employment with Farmmi, or that cannot be ascertained to have been fully performed until after the expiration
or termination of Employee’s employment with Farmmi, shall survive the expiration or termination of this Agreement. Except
as otherwise specifically provided in this Agreement, all of Farmmi’s obligations under this Agreement will terminate at
the time this Agreement or Employee’s employment with Farmmi is terminated for any reason.

 

    	 	8	 

     

    

 

10.          Notice.
Any notice, request, consent or communication under this Agreement shall be effective only if it is in writing and personally
delivered or sent by certified mail, return receipt requested, postage prepaid, or by a nationally recognized overnight delivery
service, with delivery confirmed, addressed as follows:

 

	If to Farmmi:	Farmmi, Inc.
	 	No. 307, Tianning Industrial Area
	 	Lishui, Zhejiang Province
	 	People’s Republic of China 323000
	 	 
	With a Copy to:	Anthony W. Basch
	 	Kaufman & Canoles, P.C.
	 	Two James Center, 14th Floor
	 	1021 E. Cary St.
	 	Richmond, VA 23219
	 	 
	If to Employee:	Yefang Zhang
	 	Farmmi, Inc.
	 	No. 307, Tianning Industrial Area
	 	Lishui, Zhejiang Province
	 	People’s Republic of China 323000

 

or such other persons and/or addresses
as shall be furnished in writing by any party to the other party, and shall be deemed to have been given only upon its delivery
in accordance with this Paragraph 10.

 

11.          No
Conflicts. Employee represents and warrants to Farmmi that neither the execution nor delivery of this Agreement, nor the performance
of Employee’s obligations hereunder will conflict with, or result in a breach of, any term, condition, or provision of,
or constitute a default under, any obligation, contract, agreement, covenant or instrument to which Employee is a party or under
which Employee is bound, including, but not limited to, the breach by Employee of a fiduciary duty to any former employers.

 

12.          Defined
Terms. A term defined in any part of this Agreement shall have the defined meaning wherever the term is used in this Agreement.

 

13.          Assignment.

 

(a)           This
Agreement may be assigned by Farmmi to any successor, subsidiary or affiliated entity or in connection with sale, merger, or consolidation
of Farmmi with another entity. Additionally, this Agreement shall be deemed to have been assigned without any further action on
the part of Farmmi to a successor entity in the event of a sale, merger, or consolidation of Farmmi. Such assignment may occur
without prior notice to Employee and without the provision of any additional consideration to Employee.

 

    	 	9	 

     

    

 

(b)          Employee
understands and agrees that the duties and obligations of Employee under this Agreement are personal in nature and cannot be assigned,
in whole or in part, by Employee.

 

14.          Waiver.

 

(a)          Any
failure of any party on one or more occasions to enforce or require the strict keeping and performance of any of the terms and
conditions of this Agreement shall not constitute a waiver of such terms and conditions of this Agreement, shall not constitute
a waiver of such term or condition at any future time, and shall not prevent any party from insisting on the strict keeping and
performance of such terms and conditions at a later time.

 

(b)          The
existence of any claim or cause of action of the Employee against Farmmi, whether predicated upon an alleged breach of this Agreement
or otherwise, shall not relieve Employee of her obligations under this Agreement and shall not constitute a defense to the enforcement
by Farmmi of any provision of this Agreement, including but not limited to the covenants contained in Paragraph 8 of this Agreement.

 

15.          Governing
Law. This Agreement is deemed to have been entered into in China and shall be construed and interpreted at all times and in
all respects in accordance with the laws of China without regard to the principles of conflicts of laws, and jurisdiction and
venue for any action relating in any manner to this Agreement shall be in a court of competent jurisdiction located in or having
jurisdiction over China.

 

16.          Attorneys’
Fees. In the event there is any litigation to enforce this Agreement, the prevailing party will be awarded its/her costs,
expenses, and reasonable attorneys’ fees.

 

17.          Severability.
In the event that any provision of this Agreement shall be determined by a court or tribunal having proper jurisdiction to be
invalid, or illegal, or unenforceable, the remainder of this Agreement shall not be affected but shall continue in full force
and effect as though such invalid, illegal or unenforceable provision were not originally part of this Agreement.

 

18.          Amendment.
This Agreement may not be amended or modified except by an agreement in writing signed by all the parties hereto.

 

19.          Construction
of Agreement. Each party to this Agreement agrees and acknowledges that no presumption, inference, or conclusion of any kind
shall be made or drawn against the drafter or drafter(s) of this Agreement. Each party to this Agreement also agrees and acknowledges
that she/it has contributed to the final version of this Agreement through comments and negotiations.

 

20.          Headings.
The headings used in this Agreement are for convenience only and shall not be used to construe or interpret the meaning or intent
of any provision.

 

    	 	10	 

     

    

 

21.          Entire
Agreement. This Agreement represents and contains the entire agreement and understanding between the parties with respect
to the terms and conditions of this Agreement and supersedes any and all prior and contemporaneous written and oral agreements,
understandings, representations, inducements, promises, warranties, and conditions between the parties with respect to the terms
and conditions of this Agreement. No agreement, understanding, representation, inducement, promise, warranty or condition of any
kind with respect to the terms and conditions of this Agreement shall be relied upon by either party unless expressly incorporated
herein.

 

22.          Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which
shall constitute one agreement that is binding upon both of the parties hereto, notwithstanding that both parties are not signatories
to the same counterpart.

 

[Signature page follows]

 

    	 	11	 

     

    

 

IN WITNESS WHEREOF, the parties
have executed this Employment Agreement to be effective as of the date indicated above:

 

	 	FARMMI, INC.
	 	/s/ Corporate Chop
	 	 
	 	/s/ Yefang Zhang
	 	YEFANG ZHANG
	 	 
	 	Date: March 3, 2017

 

    	 	12

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