Document:

Employment Agreement

 

This Employment Agreement (this “Agreement”)
is made and entered into this February 22, 2021, by and between AB International Group Corp., a Nevada company (“Employer”
or “Company” or “we” or “our” or “us”) and Jimmy Chue (“Employee” or
“you”).

 

The Employer is engaged in the business
of acquisition and distribution of movies. Online TV, entertainment only and desires Jimmy Chue to serve as the Chief Investment
Officer for the company.

 

Base Salary. Your
annual base salary is $78,000 (“Base Salary”). Your Base Salary is payable in accordance with the Company’s regular
payroll practices and subject to customary and required withholdings and deductions.

 

Bonus

As Chief Investment Officer,
you are eligible for a bonus as outlined herein. Your annual bonus target will be at least 50% of your annual salary, payable in
a lump sum at such time as may be determined by our Board of Directors, but no later than the earlier of ten (10) business days
after we finalize our audited financial statements for the fiscal year; or ninety (90) days following the end of such fiscal year.
To be eligible to receive a payment, you must be employed by AB International Group Corp. at the time any bonuses are paid. The
decision to pay any annual bonus in excess of 50% of your annual salary, and the amount of any annual bonus increment in excess
of 50% of your annual salary, shall be within the Board’s sole discretion based on its review of the operating performance
of the Company during the preceding fiscal year. Subject to approval of the Board of Directors, Employee will have the option to
take the bonus in equity or in a split 50/50 arrangement with 50% in cash and 50 % in equity.

 

RRestricted
Stock Award. We shall issue to you 500,000 shares of our common stock within a

reasonable time after execution of this Agreement.

 

Job Responsibilities.
As Chief Investment Officer, you shall perform such duties and have such responsibilities as are typically associated with such
position, including such duties and responsibilities as are prescribed by the Board of Directors consistent with such position.
While you are an employee, you agree to devote your full business time and attention to the performance of your duties and responsibilities
hereunder. You shall report to our Chief Executive Officer. Your principal work location shall be at the offices of the Company
located in New York City.

 

EEmployee
Benefits. In addition to your compensation, you will have the opportunity to participate in various Company benefit programs
offered to employees, pursuant to the terms and conditions of such programs, including applicable waiting periods prior to eligibility.
You will also be eligible to participate in the Company 4 weeks vacation plan. Please note that the Company reserves the right
to change or discontinue any of our benefits, plans, providers, and policies, at any time with prior comsent of the employee..

 

EExpense
Reimbursement. You will be entitled to payment or reimbursement of any reasonable expenses
paid or incurred by you in connection with and related to the performance of your duties and responsibilities. All requests
for payment of reimbursement of such expenses shall be supported by appropriate invoices,
vouchers, receipts or such other supporting documentation in such form and containing such information as we may from time to time
require.

 

    	 		 

    	 

    

At-Will Employment. You
are being offered employment for a term of one (1) year, (subject to mutual extension) and either you or the Company may terminate
your employment at any time for any reason, with or without cause or notice, except as prohibited by law. Nothing in this offer
to you should be interpreted as creating anything other than an at-will employment
relationship. You also have the right terminate your employment with the company at
any time for any reason on thirty days’ prior written notice.

 

Severance Pay. If your employment
agreement is terminated at any time by the Company without cause, the Company shall
continue to pay you, as severance pay, the monthly portion of your Base Compensation for a period of (9 months) following such
termination, subject to your continued compliance with the terms and conditions of this Agreement and the Business Protection Agreement.

 

409A. To the extent that
any provision of this letter agreement is ambiguous as to its exemption or compliance with Code Section 409A, the provision will
be read in such a manner so that all payments hereunder are exempt from Code Section 409A to the maximum permissible extent, and
for any payments where such construction is not tenable, that those payments comply
with Code Section 409A to the maximum permissible extent. To the extent any payment
under this letter agreement may be classified as a “short-term deferral”
within the meaning of Code Section 409A, such payment shall be deemed a short-term
deferral, even if it may also qualify for an exemption from Code Section 409A under another provision of Code Section 409A. Payments
pursuant to this agreement (or referenced in this agreement) are intended to constitute separate payments for purposes of Section
1.409A-2(b)(2) of the regulations under Code Section 409A.

 

Section 280G. If any of
the payments or benefits received or to be received by you from us (including, without limitation, any payment or benefits received
in connection with a Change in Control or the termination of your employment, whether
pursuant to the terms of this letter agreement or any other plan, arrangement, or
agreement, or otherwise) (all such payments collectively referred to herein as the “280G
Payments”) constitute “parachute payments” within the meaning of Section 280G of the Code and will
be subject to the excise tax imposed under Section 4999 of the Code (the “Excise
Tax”), we shall pay to you, no later than the time such Excise Tax is required to be paid by you or withheld by us,
an additional amount equal to the sum of the Excise Tax payable by you, plus the amount necessary to put you in the
same after-tax position (taking into account any and all applicable federal, state, and local excise, income, or other taxes
at the highest applicable rates on such 280G Payments and on any payments under this Section
5.9 or otherwise) as if no Excise Tax had been imposed.

 

Business Protection Agreement.
We consider the protection of our confidential information, proprietary materials and goodwill to be extremely important. Accordingly,
as a condition of your employment with the Company, you will be required to execute
and return to us the enclosed Business Protection Agreement on or before your first day of employment.

 

Required I-9 Documentation.
Your employment by the Company is also subject to you providing the Company with
proof of your legal right to work in the United States by completing the Form I-9 and providing
Company with the accepted documents specified on the Form I-9 on your first day of employment.

 

    	 	2	 

    	 

    

  

CCertifications.
As a condition of your employment, you certify to the Company that you are free to enter

into and fully perform
the duties of your position, and that you are not subject to any employment, confidentiality, non-competition or other agreement
that would restrict your performance for the Company. If you are subject to any such agreement, please forward it to the Company
as soon as possible.

 

Additionally, as a condition
of your employment, you certify that you will not disclose to or use for the benefit of the Company any trade secret or confidential
or proprietary information of any previous employer. You further affirm that you have not divulged or used any such information
for the benefit of the Company, and that you have not and will not misappropriate any such information from any former employer.

 

EEntire
Agreement. This offer letter and your signed Business Protection Agreement, states the terms of your employment and supersedes
and cancels any prior oral or written representations, offers or promises made by the Company and any understandings or agreements,
whether written or oral, between the Company and you.

 

	Accepted by Employer:	 	Accepted by
Employee:	 
	 	 	 	 
	AB International Group Corp.	 	/s/ Jimmy Chue	 
	 	 	Jimmy Chue	 
	/s/ Chiyuan Deng	 	2/22/21	 
	By: Chiyuan Deng	 	 	 
	Title: CEO	 	 	 
	Date: 2/22/2021	 	 	 

 

    	 	3EX-4.1

 Exhibit 4.1 

DESCRIPTION OF REGISTRANT’S SECURITIES 

REGISTERED PURSUANT TO SECTION 12 OF THE 

SECURITIES EXCHANGE ACT OF 1934 

The following description of our common stock is a summary and does not purport to be complete. It is subject to and qualified in its
entirety by reference to our Second Amended and Restated Certificate of Incorporation, as amended (our “Certificate”), and our Amended and Restated Bylaws (our “Bylaws”), each of which has been filed with the Securities and
Exchange Commission as an exhibit to this Annual Report on Form 10-K or incorporated by reference therein. The summary below is also qualified by provisions of applicable law. 

General 
 Under our Certificate, we have
authority to issue up to 400,000,000 shares of common stock, par value $0.01 per share. Our common stock is registered under Section 12 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), and is listed on the New
York Stock Exchange under the symbol “WAT.” 
 The rights, preferences and privileges of holders of common stock are subject to
the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future. 
 Voting Rights 

Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have
cumulative voting rights. Our Bylaws provide that a nominee for director will be elected by the affirmative vote of a majority of the votes cast with respect to such nominee; however, if the number of nominees exceeds the number of directors to be
elected, the directors will be elected by affirmative vote of a plurality of the votes cast. 
 Dividend Rights 

Subject to the rights of holders of any outstanding shares of preferred stock, holders of our common stock are entitled to receive dividends,
if any, as may be declared from time to time by our board of directors (the “Board of Directors”) in its discretion out of funds legally available for the payment of dividends. 

Liquidation Rights 
 Subject to the rights
of holders of any outstanding shares of preferred stock, holders of our common stock will share ratably in all assets legally available for distribution to out stockholders in the event of dissolution. 

Anti-takeover Effects of the Delaware General Corporation Law and Our Certificate of Incorporation and Bylaws 

Our Certificate and our Bylaws contain certain provisions that may discourage, delay, or prevent a change in our management or control over us.
We expect that these provisions, which are summarized below, will discourage coercive takeover practices or inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with
the Board of Directors, which we believe may result in an improvement of the terms of any such acquisition in favor of our stockholders. However, they may also discourage acquisitions that some stockholders may favor. 

No Stockholder Action by Written Consent 

Our Certificate provides that any action required or permitted to be taken by our stockholders must be effected at a duly called annual or
special meeting of stockholders and may not be effected by written consent in lieu of a meeting. 

 Special Meeting of Stockholders and Advance Notice Requirements for Stockholder
Proposals 
 Our Certificate and Bylaws provide that a special meeting of our stockholders may only be called by the Board of
Directors, the Chairman of the Board of Directors or our President and Chief Executive Officer, or by the Chairman of the Board of Directors, our President and Chief Executive Officer or our Secretary at the request in writing of stockholders
holding at least fifty percent (50%) of the number of shares of stock outstanding and entitled to vote at such meeting. 
 Our Bylaws
provide that nominations of persons for election to our Board of Directors and the proposal of any other business to be considered by our stockholders, may be made at any annual meeting of stockholders, or at any special meeting of stockholders
called for such purpose, (a) by or at the direction of the Board of Directors (or any duly authorized committee thereof), (b) by any stockholder of the Corporation who (A) is a stockholder of record on the date of the giving of the
notice required by our Bylaws, on the record date for the determination of stockholders entitled to vote at such meeting and at the time of the meeting, (B) is entitled to vote at such meeting and (C) who complies with the notice
procedures set forth in our Bylaws, or (c) solely with respect to nominations of persons for election to our Board of Directors, by an Eligible Stockholders (as defined in our Bylaws) whose Stockholder Nominee (as defined in our Bylaws) is
included in our proxy materials for the annual meeting pursuant to our Bylaws. In addition to any other applicable requirements, for a nomination to be made or other business to be properly brought before an annual or special meeting by a
stockholder pursuant to our Bylaws, such stockholder must give timely notice of any such proposal in proper written form to our Secretary. To be timely, a stockholder’s notice must be delivered to the Secretary (i) in the case of an annual
meeting, not earlier than the close of business on the 120th calendar day prior to the first anniversary of the date of the preceding year’s annual meeting nor later than the close of business on the 90th calendar day prior to the
first anniversary of the date of the preceding year’s annual meeting; provided, however, that in the event that the date of the annual meeting is more than 30 calendar days before or more than 70 calendar days after the anniversary
date of the preceding year’s annual meeting, or if no annual meeting was held in the preceding year, notice by the stockholder to be timely must be so delivered not earlier than the Close of Business on the 120th calendar day prior to the
date of such annual meeting and not later than the Close of Business on the later of the 90th calendar day prior to the date of such annual meeting or the tenth calendar day following the calendar day on which we first make public announcement
of the date of such meeting; and (ii) in the case of a special meeting of stockholders, not later than the close of business on the tenth day following the day on which notice of the date of the special meeting was mailed or public disclosure
of the date of the special meeting was made, whichever first occurs. In no event shall the public announcement of an adjournment or postponement of an annual or a special meeting commence a new time period (or extend any time period) for the giving
of a stockholder’s notice as described above. 
 These provisions could have the effect of delaying until the next stockholder meeting
any stockholder actions that are favored by the holders of a majority of our outstanding voting securities.
 Requirements for Removal
and Interim Election of Directors 
 The stockholders may, at any special meeting the notice of which states that it is called for
that purpose, remove, with or without cause, any director and fill the vacancy, provided that if any director was elected by the holders of any class of stock voting separately as a class under the provisions of the Certificate, such director may be
removed and the vacancy filled only by the holders of that class of stock voting separately as a class. Vacancies caused by any such removal and not filled by the stockholders at the meeting at which such removal was made, or any vacancy caused by
the death or resignation of any director or for any other reason, and any newly created directorship resulting from any increase in the authorized number of directors, may be filled by the affirmative vote of a majority of the directors then in
office, even if less than a quorum, or by sole remaining director, and any director so elected to fill any such vacancy or newly created directorship will hold office until his successor is elected and qualified or until his earlier death,
resignation or removal. 
 In the case of the resignation of a director, a majority of the directors then in office, including those who
have so resigned, will have power to fill such vacancy and the vote will take effect when such resignation becomes effective, and each director so chosen will hold office until his successor is elected and qualified or until his earlier death,
resignation or removal. 

 Amendment to Certificate of Incorporation and Bylaws 

Our Bylaws may be amended or repealed, or new bylaws may be adopted, by our Board of Directors at any regular or special meeting by the
affirmative vote of a majority of all of the members of the Board of Directors, provided, in the case of any special meeting at which all of the members of the Board of Directors are not present, that the notice of such meeting shall have stated
that the amendment of the Bylaws was one of the purposes of the meeting. Our Bylaws may be altered, amended or repealed and other bylaws may be adopted by the holders of a majority of the total outstanding stock of the Corporation entitled to vote
at any annual meeting or special meeting, provided, in the case of any special meeting, that notice of such proposed alteration, amendment, repeal or adoption is included in the notice of the meeting. 

Any provision of our Certificate may be amended or repealed from time to time and at any time in the manner prescribed by the laws of the
state of Delaware. The Delaware General Corporation Law (the “DGCL”) provides generally that the affirmative vote of a majority of the outstanding stock entitled to vote on amendments to a corporation’s certificate of incorporation or
bylaws is required to approve such amendment. 
 Exclusive Jurisdiction of Certain Actions 

Unless we consent in writing to the selection of an alternative forum, our Bylaws require that the Court of Chancery of the State of Delaware,
to the fullest extent permitted by law, be the sole and exclusive forum for (a) any derivative action or proceeding brought on our behalf, (b) any action asserting a claim of breach of fiduciary duty owed by, or other wrongdoing by, any of
our directors, officers, employees or agents to us or to our stockholders, creditors or other constituents, or a claim of aiding and abetting any such breach of fiduciary duty, (c) any action asserting a claim against us or any of our directors
or other employees arising pursuant to any provision of the DGCL or our Certificate or Bylaws, (d) any action to interpret, apply, enforce or determine the validity of our Certificate or Bylaws, (e) any action asserting a claim against us
or any of our directors or officers or other employees governed by the internal affairs doctrine, or (f) any action asserting an “internal corporate claim” as that term is defined in Section 115 of the DGCL. Such exclusive forum
provision shall not apply to any action or proceeding asserting a claim under the Securities Act of 1933, as amended, or the Exchange Act. Further, unless we consent in writing to the selection of an alternative forum, the federal district courts of
the United States of America shall be the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act against us or any of our directors or officers. Although we believe this provision
benefits the company by providing increased consistency in the application of Delaware law in the types of lawsuits to which it applies, the provision may have the effect of discouraging lawsuits against our directors, officers, employees or agents.

 Authorized but Unissued Shares 

The authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject
to any limitations imposed by the listing standards of the New York Stock Exchange. Our Board of Directors may issue shares of preferred stock in one or more series, to establish the number of shares to be included in each such series, and to fix
the designations, powers, preferences, and rights of the share of each such series, and any qualifications limitations, or restrictions thereof. These additional shares may be used for a variety of corporate finance transactions, acquisitions and
employee benefit plans. The existence of authorized but unissued common stock and preferred stock could make more difficult, or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger, or otherwise.

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