Document:

Exhibit 10.1

 

KING RESOURCES, INC.

 

INSIDER TRADING COMPLIANCE PROGRAM

 

This Insider Trading Compliance
Program (the “Program”) consists of four sections:

 

Section I provides an overview;
Section II sets forth the policies of King Resources, Inc. (the “Company”) prohibiting insider trading; Section III
explains insider trading; and Section IV consists of various procedures which have been put in place by the Company to prevent insider
trading.

 

		I.	SUMMARY

 

Preventing insider trading
is necessary to apply with securities laws and to preserve the reputation and integrity of the Company as well as that of all persons
affiliated with it. “Insider trading” occurs when any person purchases or sells a security while in possession of inside information
relating to the security. As explained in Section III below, “inside information” is information which is considered to be
both “material” and “non-public.” Insider trading is a crime and the penalties for violating the law include imprisonment,
disgorgement of profits, civil fines of up to three (3) times the profit gained or loss avoided, and criminal fines of up to $5,000,000
for individuals and $25,000,000 of entities. Insider trading is also prohibited by this Program and could result in serious sanctions,
including dismissal.

 

This Program applies to all
officers, directors and employees of the company and extends to all activities within and outside an individual’s duties at the
Company. This program also applies to any consultant or contractor to the Company that receives or has access to material, non-public
information regarding the Company (each consultant or contractor, including such consultant’s or contractor’s representatives
and agents, a “Subject Contractor”). Every officer, director, employee and Subject Contractor must review and adhere
to this Program. The Company has appointed the Chief Financial Officer as the Company’s Insider Trading Compliance Officer (the
“Compliance Officer”). The audit committee (the “Compliance Committee”) of the Board of Directors
of the Company is responsible for oversight of this Program. The Compliance Officer is responsible for monitoring and updating this program,
presenting any material updates to the program to the Compliance Committee for approval, and providing a report, at least once annually,
to the Compliance Committee regarding his or her monitoring of this program. Questions regarding the program should be directed at the
Compliance Officer.

 

		II.	STATEMENT OF POLICIES PROHIBITING INSIDER TRADING

 

A.                 
No officer, director, employee or Subject Contractor shall purchase or sell any type of security while in possession of material,
non-public information relating to the security, whether the issuer of such security is the Company or any other company.

 

B.                 
Additionally, except as set forth in Section II.D. below and except for transactions effected under an approved Rule 10b5-1 Trading
Plan as described in Section V below, no officer, director, employee or Subject Contractor shall purchase or sell any security of the
Company during the period beginning five (5) full trading days before the public release of earnings data of the Company or quarterly/annual
report and ending two (2) full “trading days” after the public release of earnings data of the Company or quarterly/annual
report whether or not the Company or any of its officers, directors, employees or Subject Contractor is in possession of material, non-public
information (the “Black-Out Period”). For purposes of this Program, a “trading day” shall mean a day on which
national stock exchanges are open for trading. The Company also encourages officers, directors, employees and Subject Contractors to consider
conducting transactions in the Company’s securities during the first 45 calendar days following the end of the Black-Out Period.

 

 

 

 

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C.                 
No officer, director, employee or Subject Contractor shall directly or indirectly tip material, non-public information to anyone
while in possession of such information. In addition, material, and non-public information should not be communicated to anyone outside
the Company under any circumstances (absent prior approval from the Compliance Officer and execution of an appropriate confidentiality
agreement), or to anyone within the company other than on a need-to-know basis.

 

D.                 
This Program does not apply in the case of the following transactions under Company plans, except as set forth in Section IV.D.
(Pre-Clearance) and except as otherwise specifically noted:

 

		1.	This Program does not apply to the exercise of stock options or the vesting of restricted stock units
or restricted stock, in each case granted under Company’s equity compensation plans. This Program does apply, however, to any sale
of the Company Stock (as defined below) as part of a broker-assisted cashless option exercise, or any other market sale of the Company
Stock received upon exercise or vesting of any equity award, whether or not for the purpose of generating the cash needed to pay the exercise
price of a stock option or to pay taxes.

 

		2.	This Program does not apply to the surrender of shares directly to the Company to satisfy tax withholding
obligations as a result of the issuance of shares upon vesting or exercise of restricted stock units, stock options or other equity awards
granted under the Company’s equity compensation plans. Of course, any market sale of the Company Stock received upon exercise or
vesting of any such equity awards remains subject to all provisions of this Program, whether or not for the purpose of generating the
cash needed to pay the exercise price or pay taxes.

 

		III.	EXPLANATION OF INSIDER TRADING

 

As noted above, “insider
trading” refers to the purchase or sale of a security while in possession of “material,” “non-public” information
relating to the security. “securities” include not only stocks, bonds, notes and debentures, but also stock options, warrants
and similar instruments. “Purchase” and “sale” are defined broadly under the federal securities laws. “Purchase”
includes not only the actual purchase of a security, but any contract to purchase or otherwise acquire a security. “Sale”
includes not only the actual sale of a security, but any contract to sell or otherwise dispose of a security. These definitions extend
to a broad range of transactions including conventional cash-for-stock transactions, conversions, the grant and exercise of stock options
and acquisitions and exercises of warrants or puts, calls or other options related to a security. I tis generally understood that insider
trading includes the following:

 

		·	Trading by insiders while in possession of material, non-public information;

		·	Trading by persons other than insiders while in possession of material, non-public information where the
information either was given in breach of an insider’s fiduciary duty to keep it confidential or was misappropriated; or

		·	Communicating or tipping material, non-public information to others, including recommending the purchase
or sale of a security while in possession of such information

 

It is important to note that
the prohibition against insider trading is absolute. Such prohibitions apply even if the decision to trade is not based on your evaluation
of such material, non-public information; all that matters is whether you were simply aware of such information at the time you trade.
It also applies to transactions that may be necessary or justifiable for independent reasons (such as the need to raise money for an emergency
expenditure) and also to very small transactions. The U.S. federal securities laws do not recognize any mitigating circumstances to insider
trading. In addition, even the appearance of an improper transaction must be avoided to preserve the Company’s reputation for adhering
to the highest standards of conduct. In some circumstances, you may need to forgo a planned transaction even if you planned it before
becoming aware of the material, non-public information. So, even if you believe you may suffer an economic loss or sacrifice an anticipated
profit by waiting to trade, you must wait.

 

 

 

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		A.	What Facts are Material?

 

The materiality of a fact
depends upon the circumstances. A fact is considered “material” if there is a substantial likelihood that a reasonable investor
would consider it important in making a decision to buy, sell or hold a security or where the fact is likely to have a significant effect
on the market price of a security. Material information can be positive or negative and can relate to virtually any aspect of a company’s
business or to any type of security, debt or equity.

 

Examples of material information
include (but are not limited to) facts concerning: dividends; corporate earnings or earnings forecasts; possible mergers or acquisition;
significant developments in borrowings or financings; information concerning product developments or clinical results; important business
developments and major litigation developments. Moreover, material information does not have to be related to a company’s business.
For example, the contents of a forthcoming newspaper column that is expected to affect the market price of a security can be material.

 

A good general rule of thumb:
when in doubt, do not trade.

 

		B.	What is Non-Public?

 

Information is “non-public”
if it is not available to the general public. In order for information to be considered public, it must be widely disseminated in a manner
making it generally available to investors through such media as Dow Jones, Reuters, The Wall Street Journal, Business Wire, Globe Newswire,
Associated Press, PR Newswire or United Press International of filed with the United States Securities and Exchange Commission (“SEC”).
The circulation of rumors, even if accurate and reported in the media, does not constitute effective public dissemination.

 

In addition, even after a
public announcement, a reasonable period of time must lapse in order for the market to react to the information. Generally, one should
allow approximately 24 hours following publication asked a reasonable waiting period before such information is deemed to be public.

 

		C.	Who is an Insider?

 

“Insiders” include
officers, directors and employees of a company and anyone else who has material inside information about a company, including Subject
Contractors. Insiders have independent fiduciary duties to their company and its stockholders not to trade on material, non- public information
relating to the company’s securities. All officers, directors, employees and Subject Contractors of the Company should consider
themselves insiders with respect to material, non-public information about the Company’s business, activities and securities. Officers,
directors, employees and Subject Contractors may not trade the Company’s securities while in possession of material, non-public
information relating to the Company nor tip (or communicate except on a need-to-know basis) such information to others.

 

It should be noted that trading
by members of an insider’s household, as well as others whose transactions may be attributable to, or influenced, directed or controlled
by, an insider, can be the responsibility of such insider under certain circumstances and could give rise to legal and Company-imposed
sanctions.

 

 

 

 

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		D.	Trading by Persons other than Insiders

 

Insiders may be liable for
communicating or tipping material, non-public information to a third party (a “tippee”), and insider trading violations
are not limited to trading or tipping by insiders. Persons other than insiders also can be liable for insider trading, including tippees
who trade on material, non-public information tipped to them or individuals who trade on material, non- public information which has been
misappropriated.

 

Tippees inherit an insider’s
duties and are liable for trading on material, non-public information illegally tipped to them by an insider. Similarly, just as insiders
are liable for the insider trading of their tippees, so are tippees who pass the information along to others who trade. In other words,
a tippee’s liability for insider trading is no different from that of an insider. Tippees can obtain material, non-public information
by receiving overt tips from others or through, among other things, conversations at social, business or other gatherings.

 

		E.	Penalties for Engaging in Insider Trading

 

Penalties for trading on or
tipping material, non-public information can extend significantly beyond any profits made or losses avoided, both for individuals engaging
in such unlawful conduct and their employers. The SEC and the Department of Justice have made the civil and criminal prosecution of insider
trading violations a top priority. Enforcement remedies available to the government or private plaintiffs under the federal securities
laws include:

 

		·	SEC administrative sanctions;
		·	Securities industry self-regulatory organization sanctions;
		·	Civil injunctions;
		·	Damage awards to private plaintiffs;
		·	Disgorgement of profits;
		·	Civil fines for the violator of up to three (3) times the amount of profit gained or loss avoided;
		·	Civil fines for the employer or other controlling person of a violator (i.e., where the violator is an
employee or other controlled person) of up to the greater of $1,000,000 or three (3) times the amount of profit gained or loss avoided
by the violator;
		·	Criminal fines for individual violators of up to $5,000,000 ($25,000,000 for an entity); and
		·	Jail sentences of up to twenty (20) years.

 

In addition, insider trading
could result in serious sanctions by the Company, including dismissal. Insider trading violations are not limited to violations of the
federal securities laws. Other federal and state civil or criminal laws, such as the laws prohibiting mail and wire fraud and the Racketeer
Influenced and Corrupt Organizations Act, also may be violated upon the occurrence of insider trading.

 

		F.	Examples of Insider Trading

 

Examples of insider trading
cases include actions brought against: corporate officers, directors and employees who traded a company’s securities after learning
of significant confidential corporate developments; friends, business associates, family members and other tippees of such officers, directors
and employees who traded the securities after receiving such information; government employees who learned of such information in the
course of their employment; and other persons who misappropriated, and took advantage of, confidential information from their employers.

 

 

 

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The following are illustrations
of insider trading violations. These illustrations are hypothetical and are not comprehensive, and, consequently, are not intended to
reflect the actual activities or business of the Company or any other entity.

 

Trading by Insider

 

An officer of X Corporation learns that
earnings to be reported by X Corporation will increase dramatically. Prior to the public announcement of such earnings, the officer purchases
X Corporation’s stock. The officer, an insider, is liable for all profits as well as penalties of up to three (3) times the amount
of all profits. The officer also is subject to, among other things, criminal prosecution, including up to $5,000,000 in additional fines
and twenty (20) years in jail. Depending upon the circumstances, X Corporation and the individual to whom the officer reports also could
be liable as controlling persons.

 

Trading by Tippee

 

An officer of X Corporation tells a
friend that X Corporation is about to publicly announce that it has concluded an agreement for a major acquisition. This tip causes the
friend to purchase X Corporation’s stock in advance of the announcement. The officer is jointly liable with his friend for all of
the friend’s profits and each is liable for all penalties of up to three (3) times the amount of the friend’s profits. In
addition, the officer and his friend are subject to, among other things, criminal prosecution, as described above.

 

		G.	Insider Reporting Requirements, Short-Swing Profits and Short Sales

 

		1.	Reporting Obligations Under Section 16(a)—SEC Forms 3, 4 and 5

 

Section 16(a) of the Securities Exchange
Act of 1934, as amended (the “1934 Act”), generally requires all officers, directors and 10% stockholders, within ten
(10) days after the insider becomes an officer, director or 10% stockholder (such person a “Section 16 reporting person”),
to file with the SEC an “Initial Statement of Beneficial Ownership of Securities” on SEC Form 3 (“Form 3”)
listing the amount of the Company’s Common Stock (the “Stock”), stock options and warrants which the insider
beneficially owns. The Form 3 must include all Company Stock held directly and indirectly by the Section 16 reporting person, their spouse,
children and any other immediate family members living in their household, as well as certain securities owned by entities they control.
Special rules apply to 10% owners, groups, trusts, partnerships and other entities. A Section 16 reporting person may disclaim beneficial
ownership of applicable shares. The rules relating to the determination of beneficial ownership are complex and legal counsel should be
consulted with any questions.

 

Following the initial filing on Form 3,
every change in the beneficial ownership of the Company’s Stock, stock options and warrants must be reported on SEC Form 4 (“Form
4”) within two (2) business days after the date on which such change occurs or in certain cases on SEC Form 5 (“Form
5”) within forty-five (45) days after fiscal year end.

 

A Form 4 is required whenever there is
a non-exempt acquisition or disposition of the Company’s Stock. Examples of transactions that must be reported on a Form 4 include
open market purchases and sales, stock repurchases, stock awards and stock option grants and exercises (including regrants, cancellations
and repricings). In deciding the filing deadline for purposes of filing Form 4, the trade date rather than the settlement date is ordinarily
determinative, subject to two narrowly defined exceptions where the insider does not control the trade date. Additionally, a special rule
applies if an officer or director purchases or sells any of the Company’s Stock within six (6) months after his or her termination
from such position. In that situation, the transaction must be reported on Form 4 if he or she made any matching purchase or sale within
the preceding six (6) months and prior to termination.

 

 

 

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A Form 5 is required annually to report
holdings and transactions that should have been reported during the year but were not, and to report certain transactions that are allowed
to be reported on a deferred basis (e.g., gifts, transfers to trusts, inheritances). Filing a Form 5 for a late or omitted report, however,
will not cleanse the Section 16 violation. In addition, if a Form 5 is not filed at fiscal year end, the Section 16 reporting person will
be required to provide the Company with a written representation that no Form 5 filing is due (i.e., there were no unreported transactions).

 

		2.	Recovery of Profit Under Section 16(b)

 

For the purpose of preventing the unfair
use of information which may have been obtained by an insider, any profits realized by any Section 16 reporting person from any “purchase”
and “sale” of the Company’s Stock during a six (6) month period, so called “short-swing profits,” may be
recovered by the Company. When such a purchase and sale occurs, good faith is no defense. The Section 16 reporting person is liable even
if compelled to sell for personal reasons, and even if the sale takes place after full disclosure and without the use of any inside information.

 

The liability of a Section 16 reporting
person under Section 16(b) of the 1934 Act is only to the Company itself. The Company, however, cannot waive its right to short-swing
profits, and any Company stockholder can bring suit in the name of the Company. In this context it must be remembered that reports of
ownership filed with the SEC on Form 3, Form 4 or Form 5 pursuant to Section 16(a) (discussed above) are readily available to the public,
and certain attorneys carefully monitor these reports for potential Section 16(b) violations. In addition, liabilities under Section 16(b)
may require separate disclosure in the Company’s annual report to the SEC on Form 10-K or its proxy statement for its annual meeting
of stockholders. No suit may be brought more than two (2) years after the date the profit was realized. However, if the Section 16 reporting
person fails to file a report of the transaction under Section 16(a), as required, the two (2) year limitation period does not begin to
run until after the transactions giving rise to the profit have been disclosed. Failure to report transactions and late filing of reports
require separate disclosure in the Company’s proxy statements.

 

Officers and directors should consult
the attached “Short-Swing Profit Rule Section 16(b) Checklist” attached hereto as Attachment A in addition to consulting with
the Compliance Officer prior to engaging in any transactions involving the Company’s securities (see Section IV(A) below), including
without limitation, the Company’s Stock, stock options or warrants.

 

		3.	Short Sales Prohibited Under Section 16I

 

Section 16(c) of the 1934 Act absolutely
prohibits insiders from making short sales of the Company’s Stock, i.e., sales of shares which the insider does not own at the time
of sale or sales of the Company’s Stock against which the insider does not deliver the shares within twenty (20) days after the
sale. Under certain circumstances, the purchase or sale of put or call options, or the writing of such options, can result in a violation
of Section 16(c). Insiders violating Section 16(c) face criminal liability.

 

The Compliance Officer should
be consulted if you have any questions regarding reporting obligations, short-swing profits or short sales under Section 16.

 

 

 

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		H.	Prohibition of Records Falsifications and False Statements

 

Section 13(b)(2) of the 1934
Act requires companies subject to the 1934 Act to maintain proper internal books and records and to devise and maintain an adequate system
of internal accounting controls. The SEC has supplemented the statutory requirements by adopting rules that prohibit (1) any person from
falsifying records or accounts subject to the above requirements and (2) officers or directors from making any materially false, misleading
or incomplete statement to any accountant in connection with any audit or filing with the SEC. These provisions reflect the SEC’s
intent to discourage officers, directors and other persons with access to the Company’s books and records from taking action that
might result in the communication of materially misleading financial information to the investing public.

 

		IV.	STATEMENT OF PROCEDURES PREVENTING INSIDER TRADING

 

The following procedures have
been established, and will be maintained and enforced, by the Company to prevent insider trading. Every officer, director, employee and
Subject Contractor is required to follow these procedures.

 

		A.	Identifying Material, Non-Public Information

 

Prior to directly or indirectly
engaging in any transaction involving any security of the Company, every officer, director, employee and Subject Contractor is required
to contact the Compliance Officer (as part of the pre-clearance procedure discussed below in Section IV.D) and make an initial determination
whether the Company and/or such officer, director, employee and/or Subject Contractor is in possession of material, non-public information
relating to such security. In making such assessment, the explanations of “material” and “non-public” information
set forth above should be of assistance. If after consulting with the Compliance Officer it is determined that the Company and/or such
officer, director, employee or Subject Contractor is in possession of material, non-public information, there can be no trading of such
security.

 

		B.	Information Relating to the Company

 

		1.	Access to Information

 

Access to material, non-public information
about the Company, including the Company’s business, clinical data or analyses, interactions with regulatory authorities, pending
publication of scientific/clinical data or results, earnings or prospects, should be limited to officers, directors, employees and Subject
Contractors of the Company on a need-to-know basis. In addition, such information may not be communicated to anyone outside the Company
under any circumstances (absent prior approval by the Compliance Officer and execution of an appropriate confidentiality agreement) or
to anyone within the Company other than on a need-to-know basis.

 

In communicating material, non-public
information to employees of the Company, all officers, directors, employees and Subject Contractors must take care to emphasize the need
for confidential treatment of such information and adherence to the Company’s policies with regard to confidential information.

 

		2.	Inquiries from Third Parties

 

Inquiries from third parties, such as
industry analysts or members of the media, about the Company should be directed to the Compliance Officer or his/her designee.

 

 

 

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		C.	Limitations on Access to the Company Information

 

The following procedures are
designed to maintain confidentiality with respect to the Company’s information, business operations and activities.

 

		1.	All officers, directors, employees and Subject Contractors should take all steps and precautions necessary
to restrict access to, and secure, material, non-public information by, among other things:

 

		·	Maintaining the confidentiality of Company related information;
		·	Conducting their business and social activities so as not to risk inadvertent disclosure of confidential
information. Review of confidential documents in public places should be conducted so as to prevent access by unauthorized persons;
		·	Restricting access to documents and files (including computer files) containing material, non-public information
to individuals on a need-to-know basis (including maintaining control over the distribution of documents and drafts of documents);
		·	Promptly removing and cleaning up all confidential documents and other materials from conference rooms
following the conclusion of any meetings;
		·	Disposing of all confidential documents and other papers, after there is no longer any business or other
legally required need, through shredders when appropriate;
		·	Restricting access to areas likely to contain confidential documents or material, non- public information;
and.
		·	Avoiding the discussion of material, non-public information in places where the information could be overheard
by others, such as in elevators, restrooms, hallways, restaurants, airplanes or taxicabs.

 

		2.	Personnel involved with material, non-public information, to the extent feasible, should conduct their
business and activities in areas separate from other Company activities.

 

		D.	Pre-Clearance of Trades by Officers, Directors, Employees and Subject Contractors

 

To provide assistance in preventing
inadvertent violations of applicable securities laws and to avoid the appearance of impropriety in connection with the purchase and sale
of the Company securities, except as set forth in the paragraph below, any transactions in Company securities (including without limitation,
acquisitions and dispositions of the Company’s Stock, the exercise of stock options, the sale of the Company’s Stock issued
upon the exercise of stock options or the vesting of restricted stock units or restricted stock) by officers, directors, employees and
Subject Contractors must be pre-cleared by the Compliance Officer. Additionally, except as set forth in Section II.D. above, neither the
Company nor any of its officers, directors, employees or Subject Contractors may trade in any securities of the Company during the Black-Out
Period, unless authorized by the Compliance Officer. Also, please consult the “Insider Trading Reminders” attached hereto
as Attachment B.

 

The requirement for pre-clearance
as set forth in the above paragraph does not apply to the following transactions:

 

		·	the vesting of restricted stock units or restricted stock; and

		·	transactions effected under an approved Rule 10b5-1 Trading Plan as set forth in Section V below.

 

All other transactions in
Company securities, including gifts of Company securities and the exercise of stock options, are subject to pre-clearance as set forth
in the above paragraph.

 

 

 

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		E.	Avoidance of Certain Aggressive or Speculative Trading

 

Officers, directors, employees
and Subject Contractors, and their respective family members (including spouses, minor children or any other family members living in
the same household), as applicable, may not directly or indirectly participate in transactions involving trading activities which by their
aggressive or speculative nature cause or even give the appearance of an impropriety, such as, for example, those listed in Nos. 1 and
2 below. If you are uncertain whether your proposed transaction may implicate these prohibitions, please contact the Compliance Officer
for pre-approval.

 

		1.	PROHIBITION OF SPECULATIVE TRADING/HEDGING. All directors, officers, employees and Subject Contractors
are prohibited from engaging in short sales; transactions in put or call options, hedging or monetization transactions; or other inherently
speculative transactions with respect to the securities of the Company at any time.
		2.	PROHIBITION ON PLEDGING. All directors, officers, employees and Subject Contractors are prohibited
from holding any securities of the Company in a margin account or otherwise pledging any securities of the Company as collateral for any
loan.

 

		F.	Prohibition of Trading During Pension Plan Blackouts

 

No director or executive officer
of the Company may, directly or indirectly, purchase, sell or otherwise transfer any equity security of the Company (other than an exempt
security) which was acquired in connection with service to the issuer if a sufficient number of participants in the issuers’ benefit
plans are also prohibited from trading in the issuer’s securities because of a plan “blackout”, as defined by Regulation
BTR under the 1934 Act. This prohibition does not apply to any transactions that are specifically exempted, including but not limited
to, purchases or sales of the Company’s securities made pursuant to, and in compliance with, an approved Rule 10b5-1 Trading Plan
as described in Section V below; compensatory grants or awards of equity securities pursuant to a plan that, by its terms, permits executive
officers and directors to receive automatic grants or awards and specifies the terms of the grants and awards; or acquisitions or dispositions
of equity securities involving a bona fide gift or by will or the laws of descent or pursuant to a domestic relations order. The Company
will notify each director and executive officer of any blackout periods in accordance with the provisions of Regulation BTR. Because Regulation
BTR is very complex, no director or executive officer of the Company should engage in any transactions in the Company’s securities,
even if believed to be exempt from Regulation BTR, without first consulting with the Compliance Officer.

 

		V.	RULE 10B5-1 TRADING PLANS

 

		A.	Overview

 

SEC Rule 10b5-1 (“Rule
10b5-1”) protects directors, officers and employees from insider trading liability under Rule 10b5-1 for transactions under
a previously established contract, plan or instruction to trade the Company’s Stock (a “Trading Plan”) entered
into in good faith and in accordance with the terms of Rule 10b5-1 of the 1934 Act and all applicable state laws and shall be exempt from
the trading restrictions set forth in the Program. The initiation of, and any modification to, any such Trading Plan will be deemed to
be a transaction in the Company’s securities and such initiation or modification is subject to all limitations and prohibitions
of transactions involving the Company’s securities. Each such Trading Plan, and any modification thereof, shall be submitted to
and pre-approved by the Compliance Officer, or such other person as the Company’s Board of Directors may designate from time to
time (the “Authorizing Officer”), who may impose such conditions on the implementation and operation of the Trading
Plan as the Authorizing Officer deems necessary or advisable. Without limiting the generality of the foregoing, the Authorizing Officer
may prescribe certain forms of Trading Plans to which each Trading Plan must conform. The Authorizing Officer may also require that Trading
Plans be arranged with a specified broker. However, compliance of the Trading Plan to the terms of Rule 10b5-1 and the execution of transactions
pursuant to the Trading Plan are the sole responsibility of the person initiating the Trading Plan, not the Company or the Authorizing
Officer.

 

 

 

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Rule 10b5-1 presents an opportunity
for insiders to establish arrangements to sell (or purchase) the Company’s Stock without the restrictions of windows and blackout
periods even when there is undisclosed material information. A Trading Plan might also help reduce negative publicity that may result
when key executives sell the Company’s Stock. Rule 10b5-1 only provides an “affirmative defense” in the event there
is an insider-trading lawsuit. It does not prevent someone from bringing a lawsuit.

 

A director, officer and employee
may enter into a Trading Plan that outlines a pre-set plan for trading of the Company’s Stock, including the exercise of stock options
only when he or she is not in possession of material, non-public information, and only during an open trading window period outside of
the Black-Out Period. An individual may adopt more than one Trading Plan at a time. Although transactions effected under a Trading Plan
will not require further pre-clearance at the time of the trade, any transaction (including the quantity and price) made pursuant to a
Trading Plan of a Section 16 reporting person must be reported to the Company promptly on the day of each trade to permit the Company’s
Section 16 filing coordinator to assist in the preparation and filing of a required Form 4. Trades pursuant to a Trading Plan may occur
at any time, subject to a thirty (30) day waiting period after adoption of the Trading Plan during which time no transactions under the
Trading Plan can be made.

 

From time to time, for legal
or other reasons, the Authorizing Officer may direct that purchases and sales pursuant to any Trading Plan be suspended or discontinued.
Failure to discontinue purchases and sales as directed shall constitute a violation of the terms of this Section V and result in a loss
of the exemption set forth herein.

 

Please review the following
description of how a Trading Plan works.

 

Pursuant to Rule 10b5-1, an
individual’s purchase or sale of securities will not be “on the basis of” material non-public information if:

 

		·	First, before becoming aware of the information, the individual enters into a binding contract to purchase
or sell the securities, provides instructions to another person to sell the securities or adopts a written plan for trading the securities
(i.e., the Trading Plan).

		·	Second, the Trading Plan must either:

		o	specify the amount of securities to be purchased or sold, the price at which the securities are to be
purchased or sold and the date on which the securities are to be purchased or sold;

		o	include a written formula or computer program for determining the amount, price and date of the transactions;
or

		o	prohibit the individual from exercising any subsequent influence over the purchase or sale of the Company’s
Stock under the Trading Plan in question.

		·	Third, the purchase or sale must occur pursuant to the Trading Plan and the individual must not enter
into a corresponding hedging transaction or alter or deviate from the Trading Plan.

 

		B.	Revocation/Amendments to Trading Plans

 

Revocation of Trading Plans
(which includes terminations of Trading Plans) should occur only in unusual circumstances, and the effectiveness of any revocation of
a Trading Plan will be subject to the prior review and approval of the Authorizing Officer. If an individual revokes a Trading Plan, then
the individual may not enter into a new Trading Plan until thirty (30) days after termination of the Trading Plan or such longer period
as the Authorizing Officer may determine in his or her discretion. Such new Trading Plan can be executed only when the individual is not
in possession of material non-public information, and during a trading window period outside of a Black-Out Period. In addition, transactions
pursuant to such new Trading Plan will be subject to a thirty (30) day waiting period after adoption of the new Trading Plan during which
time no transactions under the new Trading Plan can be made.

 

 

 

    	 	10	 

     

    

 

Each Trading Plan must contain
provisions allowing the Company to revoke or suspend a Trading Plan. Circumstances under which Trading Plans may be revoked or suspended
include the announcement of a merger or the occurrence of an event that would cause the transaction either to violate applicable law or
to have an adverse effect on the Company. The Authorizing Officer or administrator of the Company’s stock plans is authorized to
notify the applicable broker in such circumstances.

 

Amendments to Trading Plans,
which for these purposes would include any modifications to or voluntary suspensions of Trading Plans, should be made in only very limited
circumstances and should be avoided if possible. Any amendment to a Trading Plan will be subject to the prior review and approval of the
Authorizing Officer. Any amendment to a Trading Plan can be effected only when the individual is not in possession of material non-public
information, and during a trading window period outside of a Black- Out Period. In addition, transactions pursuant to such amended Trading
Plan will be subject to a thirty (30) day waiting period after adoption of the amended Trading Plan (or such longer period as the Authorizing
Officer may determine in his or her discretion) during which time no transactions under the amended Trading Plan can be made.

 

		C.	Discretionary Plans

 

Discretionary Trading Plans,
where the discretion or control over trading is transferred to a broker, are permitted if (i) pre-approved by the Authorizing Officer,
(ii) the officer, director, or employee may not exercise influence over the broker’s trading decisions and (iii) the broker may
not be in possession of any Company material non-public information.

 

The Authorizing Officer of
the Company must pre-approve any Trading Plan, arrangement or trading instructions, etc., involving potential sales or purchases of the
Company’s Stock or stock option exercises, including but not limited to, blind trusts, or limit orders. The actual transactions
effected pursuant to a pre-approved Trading Plan will not be subject to further pre-clearance for transactions in the Company’s
Stock once the Trading Plan or other arrangement has been pre-approved.

 

		D.	Reporting (if required)

 

SEC Form 144 (“Form
144”) will be filled out and filed by the individual/brokerage firm in accordance with the existing rules regarding Form 144
filings. A footnote at the bottom of the Form 144 should indicate that the trades “are in accordance with a Trading Plan that complies
with Rule 10b5-1 and expires_______.” For Section 16 reporting persons, Form 4s should be filed before the end of the second (2nd)
business day following the date that the broker, dealer or plan administrator informs the individual that a transaction was executed,
provided that the date of such notification is not later than the third (3rd) business day following the trade date. A similar footnote
should be placed at the bottom of the Form 4 as outlined above.

 

		E.	Stock Options

 

Cash exercise of stock options
currently can be executed at any time. Same day sales exercises of stock options are subject to trading windows. However, the Company
will permit same day sales under Trading Plans. Once a broker determines that the time is right to exercise the stock option and dispose
of the shares in accordance with the Trading Plan, the broker will notify the Company in writing and the administrator of the Company’s
stock plans will process the transaction. The insider should not be involved with this type of same day sale exercise.

 

		F.	Trades Outside of a Trading Plan

 

Trades outside of a Trading
Plan are discouraged, but may be allowed during an open window with pre-clearance as set forth under Section IV.D. (Pre-Clearance), as
long as the Trading Plan continues to be followed.

 

 

 

    	 	11	 

     

    

 

The Trading Plans do not exempt the Section
16 reporting person from the Section 16 six(6) month short-swing profit rules or liability.

 

		G.	Public Announcements

 

The Company may make a public
announcement that Trading Plans are being implemented in accordance with Rule 10b5-1. It will consider in each case whether a public announcement
of a particular Trading Plan should be made. It may also make public announcements or respond to inquiries from the media as transactions
are made under a Trading Plan.

 

		H.	Pledging the Company’s Stock to Secure Margin of Other Loans

 

The Company does not permit
officers or directors to pledge the Company’s Stock or securities as collateral to secure loans. Such pledges also cannot be carried
out through a Trading Plan. The Trading Plan must be consistent with Section IV.E. above.

 

		I.	Put and Call Options and other Hedging Transactions

 

Put and call options and other
hedging transactions are not permitted under the Program and therefore are not be permitted under a Trading Plan. The Trading Plan must
be consistent with Section IV.E. above.

 

		J.	Program Takes Precedence

 

In the event of any conflict
between this Program and any Trading Plan, this Program shall control, to the extent the Trading Plan would permit activities otherwise
prohibited by this Program.

 

		VI.	EXECUTION AND RETURN OF CERTIFICATION OF COMPLIANCE

 

After reading this policy
statement all officers, directors, employees and Subject Contractors should execute and return to a Compliance Officer the applicable
Certification of Compliance form attached hereto as Attachment C, Attachment D or Attachment E.

 

 

 

    	 	12	 

     

    

Attachment A

 

SHORT-SWING PROFIT RULE
SECTION 16(b) CHECKLIST

 

Note: ANY combination of PURCHASE
AND SALE or SALE AND PURCHASE within six (6) months of each other results in a violation of Section 16(b), and the “profit”
must be recovered by the Company. It makes no difference how long the shares being sold have been held or that you are an insider for
only one of the two matching transactions. The highest priced sale will be matched with the lowest priced purchase within the six (6)
month period.

 

SALES

 

If a sale is to be made by
an officer, director or 10% stockholder (or any family member living in the same household):

 

		1.	Have there been any purchases by the insider (or family members living in the same household) within the
past six (6) months?
		2.	Have there been any stock option exercises within the past six (6) months?
		3.	Are any purchases (or stock option exercises) anticipated or required within the next six (6) months?
		4.	Has a Form 4 been prepared?

 

Note: If a sale is to be made
by an affiliate of the Company and unregistered stock is to be sold, has a Form 144 been prepared and has the broker been reminded to
sell pursuant to Rule 144?

 

PURCHASES AND STOCK OPTION EXERCISES

 

If a purchase or stock option
exercise for stock is to be made:

 

		1.	Have there been any sales by the insider (or family members living in the same household) within the past
six (6) months?
		2.	Are any sales anticipated or required within the next six (6) months (such as tax- related or year-end
transactions)?
		3.	Has a Form 4 been prepared?

 

BEFORE PROCEEDING WITH A PURCHASE OR SALE,
CONSIDER WHETHER YOU ARE AWARE OF MATERIAL, NON-PUBLIC INFORMATION WHICH COULD AFFECT THE PRICE OF THE STOCK.

 

 

 

 

 

 

 

    	 	13	 

     

    

 

Attachment B

 

INSIDER TRADING REMINDERS

 

Before engaging in any transaction
in the Company’s securities, please read the following:

 

Both the federal securities
laws and the Company’s policy prohibit transactions in the Company’s securities at a time when you may be in possession of
material information about the Company which has not been publicly disclosed. This also applies to members of your household as well as
all others whose transactions may be attributable to you or whose transactions you otherwise influence, direct or control.

 

Material information, in short,
is any information which could affect the price of the securities. Either positive or negative information may be material. Once a public
announcement has been made, you should wait until the information has been made available to the public for at least one (1) full trading
day before engaging in any transaction. For these purposes, a “trading day” shall mean a day on which national stock exchanges
are open for trading.

 

Except as set forth in Section
II.D. of our Insider Trading Compliance Program and except for transactions effected under an approved Rule 10b5-1 Trading Plan as described
in Section V of our Insider Trading Compliance Program, neither the Company nor any of its officers, directors, employees or Subject
Contractors may trade in any securities of the Company during the period beginning five (5) full trading days before the public release
of earnings data of the Company or quarterly/annual report and ending on the close of business two (2) full trading days after the public
release of earnings data or quarterly/annual report whether or not the Company or any of its officers, directors, employees or Subject
Contractors is in possession of material, non-public information, unless authorized by the Compliance Officer.

 

Important: All transactions
by officers, directors, employees and Subject Contractors must be pre-cleared with the Compliance Officer, except as specifically noted
in Section IV.D. of our Insider Trading Compliance Program.

 

For further information and
guidance, please refer to our Insider Trading Compliance Program and do not hesitate to contact the Compliance Officer.

ALL TRANSACTIONS IN KING RESOURCES, INC. SECURITIES
BY OFFICERS, DIRECTORS, EMPLOYEES AND SUBJECT CONTRACTORS MUST BE PRE- CLEARED BY THE COMPLIANCE OFFICER.

 

 

 

 

 

 

 

    	 	14	 

     

    

 

 

Attachment C

 

Outside Directors

CERTIFICATION OF COMPLIANCE

 

		TO:	Compliance Officer

		FROM:	_____________________________________

		RE:	INSIDER TRADING COMPLIANCE PROGRAM OF KING RESOURCES, INC.

 

I have received, reviewed
and understand the above-referenced Insider Trading Compliance Program and hereby undertake, as a condition to my present and continued
affiliation with King Resources, Inc., to comply fully with the policies and procedures contained therein.

 

I hereby certify that to the
best of my knowledge I have complied, and I will henceforth comply fully with all policies and procedures set forth in the above-referenced
Insider Trading Compliance Program.

 

 

	 	 	 
	SIGNATURE	 	DATE
	 	 	 
	TITLE	 	 

 

 

 

 

 

 

 

 

 

 

 

    	 	15	 

     

    

 

Attachment D

 

Officers, Management Directors & Employees

 

CERTIFICATION OF COMPLIANCE

 

		TO:	Compliance Officer

		FROM:	_____________________________________

		RE:	INSIDER TRADING COMPLIANCE PROGRAM OF KING RESOURCES, INC.

 

I have received, reviewed
and understand the above-referenced Insider Trading Compliance Program and hereby undertake, as a condition to my present and continued
affiliation with King Resources, Inc., to comply fully with the policies and procedures contained therein.

 

I hereby certify that to the
best of my knowledge I have complied, and I will henceforth comply fully with all policies and procedures set forth in the above-referenced
Insider Trading Compliance Program.

 

	 	 	 
	SIGNATURE	 	DATE
	 	 	 
	TITLE	 	 

 

 

 

 

 

 

 

 

 

 

 

    	 	16	 

     

    

 

Attachment E

 

Consultants, Contractors

 

CERTIFICATION OF COMPLIANCE

 

		TO:	Compliance Officer

		FROM:	_____________________________________

		RE:	INSIDER TRADING COMPLIANCE PROGRAM OF KING RESOURCES, INC.

 

The above named consultant
or contractor to King Resources, Inc. has received, reviewed and understands the above-referenced Insider Trading Compliance Program and
hereby undertakes, as a condition to his, her or its present and continued consulting or other contractual relationship with King Resources,
Inc., to comply fully with the policies and procedures contained therein.

 

The above named consultant
or contractor hereby certifies that to the best of his, her or its knowledge such consultant or contractor has complied and will henceforth
comply fully with all policies and procedures set forth in the above-referenced Insider Trading Compliance Program.

 

 

	 	 	 
	SIGNATURE	 	DATE
	 	 	 
	TITLE	 	 

 

 

 

 

 

 

 

 

    	 	17Exhibit 10.2

 

KING RESOURCES, INC.

AUDIT COMMITTEE CHARTER

 

I. Purpose

 

The purpose of the Audit Committee of the Board
of Directors (the “Board”) of King Resources, Inc. (the “Company”) is to oversee:

  

	 	·	evaluating the performance, independence and qualifications of our independent auditors and determining whether to retain our existing independent auditors or engage new independent auditors;

 

	 	·	reviewing and approving the engagement of our independent auditors to perform audit services and any permissible non- audit services;

 

	 	·	reviewing our annual and quarterly financial statements and reports, including the disclosures contained under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and discussing the statements and reports with our independent auditors and management;

 

	 	·	reviewing with our independent auditors and management significant issues that arise regarding accounting principles and financial statement presentation and matters concerning the scope, adequacy and effectiveness of our financial controls;

 

	 	·	reviewing our major financial risk exposures, including the guidelines and policies to govern the process by which risk assessment and risk management is implemented; and

 

	 	·	reviewing and evaluating on an annual basis the performance of the Audit Committee, including compliance of the Audit Committee with this Charter.

  

The Audit Committee will maintain
and foster an open avenue of communication with the Company’s management, internal audit, and any independent auditor. In addition
to the duties and responsibilities described in this Charter, it will also be responsible for any additional duties and responsibilities
prescribed or mandated by the Board.

 

The Audit Committee’s
responsibility is one of oversight. The members of the Audit Committee are not employees of the Company, and they do not perform management’s
or any independent auditor’s functions. The Audit Committee relies on the expertise and knowledge of management, the internal auditors,
and any independent auditor in carrying out its oversight responsibilities. The Company’s management is responsible for preparing
accurate and complete financial statements in accordance with generally accepted accounting principles (“GAAP”), crafting
periodic reports, and establishing and maintaining appropriate accounting principles and financial reporting policies and satisfactory
internal control over financial reporting. The independent auditor will audit the Company’s annual consolidated financial statements,
review the Company’s quarterly financial statements, and, as required under Securities and Exchange Commission (“SEC”)
rules, attest as to the effectiveness of the Company’s internal control over financial reporting. It is not the Audit Committee’s
responsibility to prepare or certify the Company’s financial statements, guarantee the audits or reports of the independent auditor,
certify as to whether any independent auditors are “independent” under applicable rules, or ensure that the financial statements
or periodic reports are complete and accurate, conform to GAAP, or otherwise comply with applicable laws and the Company’s policies.

 

 

 

 

    	 	1	 

     

    

 

II. Composition

 

The members of the Audit Committee,
including the Chair, will be appointed by and serve at the discretion of the Board. Members may be removed from the Audit Committee, with
or without cause, by the Board.

 

During such time as the common
stock of the Company is quoted on The OTC Markets, the Audit Committee shall be made up of at least two (2) members of the Board of Directors.
During such time as the common stock of the Company is listed on a national stock exchange such as the Nasdaq Stock Market (“Nasdaq”),
the Audit Committee shall be made up of at least three (3) members of the Board of Directors, subject to any available exception. Subject
to any available exception, each member of the Audit Committee will satisfy the independence requirements imposed by the SEC and Nasdaq,
not having participated in the preparation of the financial statements of the Company or any subsidiary of the Company at any time during
the past three years, be able to read and understand fundamental financial statements, including the Company’s balance sheet, income
statement and cash flow statement, and at least one member of the Audit Committee will satisfy the applicable financial-sophistication
requirements and any other requirement for accounting or related financial management expertise as determined by the Board and required
by the SEC and Nasdaq.

 

III. Authority

 

The Audit Committee will have
access to all books, records, facilities, and the Company’s personnel as deemed necessary or appropriate by any member of the Audit
Committee. The Audit Committee may retain any outside counsel, experts, or advisors that the Audit Committee believes to be necessary
or appropriate. The Company must provide for appropriate funding for payment of compensation to any independent auditor for the purpose
of preparing or issuing an audit report or performing other audit, review or attest services, and for payment of any compensation to any
outside counsel, experts, or advisors retained by the Audit Committee. The Company must also pay any ordinary administrative expenses
of the Audit Committee that the Audit Committee deems appropriate in carrying out its duties.

 

The Audit Committee may form
and delegate authority to one or more subcommittees. By delegating an issue to a subcommittee, the Audit Committee does not surrender
any authority over that issue. Although the Audit Committee may act on any issue that has been delegated to a subcommittee, doing so will
not limit or restrict future action by the subcommittee on any matters delegated to it. Any action or decision of a subcommittee, including
the preapproval of audit or non-audit services, will be presented to the full Audit Committee at its next scheduled meeting. By approving
this Charter, the Board delegates authority to the Audit Committee with respect to these responsibilities.

 

The Audit Committee may, in
its sole discretion, retain or obtain advice from consultants, legal counsel or other advisers (independent or otherwise), provided that,
preceding any such retention or advice, the Audit Committee must take into consideration the applicable factors under Nasdaq rules. The
Audit Committee will be directly responsible for the appointment, compensation and oversight of any adviser it retains. The Company must
provide for appropriate funding, as determined by the Audit Committee, for payment of reasonable compensation to any adviser retained
by the Audit Committee.

 

In addition to the duties
and responsibilities expressly delegated to the Audit Committee in this Charter, the Audit Committee may exercise any other powers and
carry out any other responsibilities consistent with this Charter, the purposes of the Audit Committee, the Company’s organizational
documents and other governance policies and applicable Nasdaq rules.

 

The Audit Committee has the
authority to conduct or authorize investigations into any matters within the scope of its responsibilities as it deems appropriate, including
the authority to request any officer, employee or adviser of the Company to meet with the Audit Committee or any advisers engaged by the
Audit Committee.

 

 

 

 

    	 	2	 

     

    

 

IV. Duties and Responsibilities

 

Auditor Management:

 

1 . Hiring, Selecting, and
Overseeing Auditors. The Audit Committee is responsible for the appointment, retention, and replacement of any independent auditor, as
well as determining the fees of any independent auditor. The independent auditor and any other registered public accounting firm engaged
for the financial reporting process will report directly to the Audit Committee and be accountable to it. In addition, the Audit Committee
may replace any existing independent auditor with a different public accounting firm.

 

2 . Approving Audit and Non-Audit
Engagements. The Audit Committee will oversee and evaluate audit plans, the adequacy of staffing, the fees to be paid to independent auditors,
and oversee the negotiation and execution of any engagement letters on behalf of the Company. The Audit Committee will oversee the rotation
of the independent auditors’ partners on the Company’s audit engagement team as required by applicable rules and regulations.
The Audit Committee Chair may pre-approve audit and permissible non-audit services and any associated fees, as long as this pre-approval
is presented to the full Audit Committee at scheduled meetings. The Audit Committee may, in accordance with applicable law, establish
pre-approval policies and procedures for the engagement of independent accountants to render services to the Company.

 

3 . Auditor Independence.
At least annually, the Audit Committee will review and discuss the qualifications, performance, and independence of the independent auditors,
or in the case of prospective independent auditors, before they are engaged. That review will include reviewing written disclosures from
any independent auditor regarding any relationships or services that may impact the objectivity and independence of such independent auditor,
as defined by applicable rules and regulations. If the Audit Committee determines that further inquiry is advisable, it must take appropriate
action in response to the independent auditor’s report to satisfy itself of the auditor’s independence.

 

4 . Former Employees of Auditors.
The Audit Committee will oversee the policies and procedures as required by applicable rules and regulations governing how the Company
may employ individuals who are or once were employed by an independent auditor.

 

Financial Review and Disclosure:

 

5 . Annual Audit Results.
The Audit Committee will review with the Company’s management and the independent auditors the results of the annual audit, including:

 

	 	·	the independent auditors’ assessment of the quality of the Company’s accounting principles and practices;

 

	 	·	the independent auditors’ views about qualitative aspects of the Company’s significant accounting practices, the reasonableness of significant judgments, and estimates (including material changes in estimates and analyses of the effects of alternative GAAP methods on the financial statements);

 

	 	·	all known and likely misstatements identified during the audit (other than those the independent auditors believe to be trivial);

 

	 	·	the adequacy of the disclosures in the financial statements; and

 

	 	·	any other matters that the independent auditor must communicate to the Audit Committee under applicable accounting or auditing standards.

  

 

 

    	 	3	 

     

    

 

6. Audited Financial Statement
Review; Quarterly and Annual Reports. The Audit Committee will review the annual audited financial statements and quarterly financial
statements with the Company’s management and the independent auditor. The Audit Committee will be responsible for recommending to
the Board whether the proposed annual audited financial statements should be included in the Company’s Annual Report on Form 10-K.

 

7 . Earnings Announcements.
The Audit Committee will review and discuss with the Company’s management and the independent auditors any earnings press releases
and other financial information regarding the Company’s results of operations.

 

8 . Proxy Report. The Audit
Committee will oversee the preparation of any report required by applicable rules and regulations to be included in the Company’s
annual proxy statement.

 

9 . Accounting Principles
and Policies. The Audit Committee will review and discuss with the Company’s management and the independent auditors significant
issues regarding accounting principles and financial statement presentation, including:

 

	 	·	critical accounting policies and practices;

 

	 	·	alternative accounting policies available under GAAP;

 

	 	·	the potential impact on the Company’s financial statements of alternative treatments; and

 

	 	·	any other significant reporting issues and judgments, significant regulatory, legal, and accounting initiatives, or developments that may have a material impact on the financial statement.

 

Audit Committee will review
with the independent auditors and the Company’s management, if appropriate, any written communication, such as any management letter
or internal control letter, before the independent auditors issue it and before management responds to the communication.

 

10. Management Cooperation
with Auditors. The Audit Committee will evaluate the Company’s management’s cooperation with the independent auditors during
their audit examination, including any significant difficulties or disagreements encountered during the audit,if any. The Audit Committee
will resolve any conflicts or disagreements regarding financial reporting.

 

Internal Control and Procedures:

 

11. Risk Assessment and Management.
The Audit Committee will review and discuss with the Company’s management and the independent auditors the Company’s policies
on risk management and assessment, including guidelines and policies to govern the process by which the Company’s exposure to risk
is handled, and oversee management of the Company’s financial risks, regulatory risks, cybersecurity risks and, as necessary or
advisable, such other material risks facing the Company. The Audit Committee will provide regular reports to the Board about material
issues affecting the quality or integrity of the Company’s financial statements, compliance with legal or regulatory requirements,
the performance or independence of the independent auditor, the performance of the Company’s internal audit function, and other
matters as the Audit Committee deems appropriate.

 

12. Internal Auditors. If
and when the Company establishes an internal audit team, the Audit Committee will review the audit plan of the Company’s internal
audit team and discuss with that team the adequacy and effectiveness of the Company’s scope, staffing, and general audit approach.
The Audit Committee will review any significant reports prepared by the Company’s internal auditors, as well as management’s
response. The head of the internal audit team will also have a reporting relationship to, and be evaluated by, the Audit Committee.

 

 

 

 

    	 	4	 

     

    

 

13. Internal Control over
Financial Reporting; Disclosure Controls. The Audit Committee will confer with the Company’s management and the independent auditors
concerning the scope, design, adequacy, and effectiveness of the Company’s internal control over financial reporting and its disclosure
controls and procedures. The Audit Committee will review reports on significant findings and recommendations with respect to internal
controls over financial reporting, together with management responses and any special audit steps adopted in light of any material control
deficiencies.

 

14. Correspondence with Regulators.
The Audit Committee will consider and review with the Company’s management, the independent auditors, and outside advisors or accountants
any correspondence with regulators or governmental agencies and any published reports that raise material issues regarding the Company’s
financial statements or accounting policies.

 

15. Complaint Procedures.
The Audit Committee is responsible for overseeing procedures for receiving, retaining, and investigating:

 

	 	·	complaints received by the Company regarding accounting, internal accounting controls, or auditing matters; and

 

	 	·	confidential and anonymous submissions by employees of concerns regarding questionable accounting or auditing matters.

 

16. Ethical Compliance. The
Audit Committee will review the results of management’s efforts to monitor compliance with the Company’s programs and policies
adhering to applicable laws and rules, including the Company’s Code of Conduct.

 

17. Related Party Transactions.
The Audit Committee will review and approve, in accordance with the Company’s policies, any related party transaction as defined
by applicable rules and regulations.

 

Other Matters:

 

18. Review of this Charter.
The Audit Committee will annually review and reassess this Charter and submit any recommended changes to the Board for its consideration.

 

19. Audit Committee Self-Evaluation.
The Audit Committee will annually perform an evaluation of the performance of the Audit Committee.

 

20. Other Legal and Finance
Matters. The Audit Committee will review and discuss, as needed, with the Company’s management legal and regulatory compliance and
any actual, pending, or threatened legal or financial matters that could significantly affect the Company’s business or financial
statements.

 

21. Compensation. Members
of the Audit Committee shall receive such fees, if any for their service as Audit Committee members as may be determined by the Board
in its sole discretion. Members of the Audit Committee may not receive any compensation from the Company except the fees that they receive
for service as a member of the Board or any committee thereof.

 

 

 

    	 	5	 

     

    

 

V. Meetings and Minutes

 

The Audit Committee will meet whenever its members
deem a meeting necessary or appropriate. The Audit Committee will meet at least quarterly, but may meet more frequently if its members
deem doing so necessary or appropriate. The Audit Committee will determine where and when to meet and provide this schedule in advance
to the Board.

 

Unless otherwise directed
by the Audit Committee, each regularly scheduled meeting will conclude with an executive session that excludes members of management.
As part of its responsibility to foster open communication, the Audit Committee will meet periodically with management, personnel in charge
of the internal audit function, and the independent auditor in separate executive sessions.

 

The Audit Committee will maintain
written minutes of its meeting and regularly report to the Board on its actions and recommendations. The Audit Committee may act by unanimous
written consent; when it does so, those actions will be filed in the minute book. The Audit Committee has the authority to establish its
own rules and procedures for notice and conduct of its meetings, so long as they are not otherwise inconsistent with any provision of
this Charter or of the Company's certificate of incorporation and bylaws that are applicable to the Audit Committee.

 

 

 

 

 

 

 

 

 

 

 

 

    	 	6

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