Document:

Exhibit 10.2

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(“Agreement”) is entered into this 3rd day of March, 2017 but with effect from March 7, 2017 (the “Effective
Date”) by and between JUN ZHOU (“Employee”) and FARMMI, INC., (“Farmmi”).

 

WHEREAS, Farmmi desires
to employ Employee as the Chief Financial 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 Financial Officer upon and subject to the terms and conditions of this Agreement.
During the term of his employment under this Agreement, Employee shall report to Farmmi’s Chief Executive Officer and 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 his employment under this Agreement, Employee will perform his 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 his best efforts and his 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 his
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 he may from time to time have custody and delivering the same to
Farmmi whenever and however directed to do so.

 

(b)         In
performing his duties, Employee shall not undertake any action inconsistent with or harmful to the best interests of Farmmi. Employee
shall perform his 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 his 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
his employment with Farmmi, Employee shall devote his full time, attention, and best efforts to the operations of Farmmi and the
fulfillment of his duties. Employee agrees that, during his employment with Farmmi, he will exercise the highest degree of loyalty
and will conduct his duties with the highest degree of care. During his 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.

 

(a)         For
all services rendered by Employee to Farmmi, 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) shall pay Employee an base gross annual salary of Two Hundred Forty Thousand RMB (¥240,000).
Employee’s annual gross salary will be paid to Employee in accordance with Nongyuan Network’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 him under this Agreement will be reduced by all applicable federal
and state payroll and withholding taxes and any other deductions authorized by Employee for the provision of employee benefits
or otherwise. Nongyuan Network will conduct an annual performance review of Employee, and any changes in Employee’s salary
shall be determined in the sole discretion of Nongyuan Network.

 

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.

 

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(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 Chief Executive Officer 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 Financial 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 his job and there is no reasonable
accommodation that can be provided to enable him 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 his 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.

 

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(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 his 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).

 

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(iv)        During
his 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 his 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 his 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 his 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 his 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 himself; 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 himself employee
of Farmmi or related with Farmmi in any way, after termination of his 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.

 

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(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 his 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 his 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 he 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 him and arising out of Employee’s employment at all times during his employment with Farmmi and for a period of one (1)
year.

 

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(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 he owns, including the ones he invents by himself and the ones he 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 his 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
his 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.

 

(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.

 

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(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 his 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 his employment (regardless of the reason) and remain binding and enforceable against him 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 him 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.

 

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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:	Jun Zhou
	 	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.

 

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(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 his 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/his 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 he/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.

 

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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]

 

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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/ Jun Zhou	 	/s/ Yefang Zhang_
	JUN ZHOU	 	YEFANG ZHANG
	 	 	 
	Date: March 7, 2017	 	Date: March 3, 2017

 

    	 	12Exhibit 10.3

Exclusive Call Option Agreement

 

Among

Zhengyu Wang,

 

Hangzhou Suyuan Agricultural Technology
Co., Ltd.

 

And

 

Hangzhou Nongyuan Network Technology Co.,
Ltd.

 

September, 2016

 

    	 	 	 

     

    

 

Exclusive Call Option Agreement

 

This Exclusive Call Option Agreement (“this
Agreement”) is made and entered into this 18th day of September, 2016 in Hangzhou, People’s Republic of
China (“PRC”) by and among:

 

Party A: Hangzhou Suyuan Agricultural
Technology Co., Ltd. (the “Trustee”), a LIMITED LIABILITY COMPANY established and existed under the law of PRC,
located at Room 1107, Building 1, No. 400 Jianger Road, Changhe Street, Binjiang District, Hangzhou City.

 

Party B: Zhengyu Wang, citizen of
People’s Republic of China, shareholder of Party C, holding 100% shares, and;

 

Party C: Hangzhou Nongyuan Network Technology
Co., Ltd. , a LIMITED LIABILITY COMPANY established and existed under the law of PRC, located at Room 1106, Building 1, No.
400 Jianger Road, Changhe Street, Binjiang District, Hangzhou City.

 

In this Agreement, Party A, Party B and
Party C is one party each, collectively “all parties”.

 

WHEREAS,

 

		1)	Within legal restriction of People’s Republic of China, Party B agrees to transfer all shares
of Party C it holds to Party A, Party A agrees to accept the transfer. Party C agrees that Party B shall authorize shares purchase
right to Party A under this Agreement;

 

		2)	Within legal restriction of People’s Republic of China, Party C agrees to transfer its assets
to Party A, and Party A agrees to accept. Party B agrees that Party C authorizes assets purchase right to Party A under this Agreement;

 

		3)	In order to conduct the abovementioned share transfer and assets transfer, Party B and Party C
irrevocably authorize Party A with exclusive and unconditional shares purchase right and assets purchase right, respectively. In
accordance with such shares purchase right and assets purchase right, as requested by Party A and within legal restriction of People’s
Republic of China, Party B or Party C should transfer shares or assets of Party C to Party A in accordance with this Agreement.

 

NOW THEREFORE, towards decision-making
by consensus, all parties agree as follows:

 

		1.	Definition 

 

In this Agreement, except for otherwise
stated specified, the following defined terms shall have the following meaning:

 

    	 	 	 

     

    

 

“Assets Purchase Right”
means Party A’s right to purchase any assets of Party C in accordance with this Agreement.

 

“Operation Approval”
means approvals, permissions, records, registrations, and other materials that Party C needs to obtain in order to operate its
business legally and effectively, including without limitation business license and other approvals and certificates required by
law of PRC.

 

“Corporate Assets” means
all tangible and intangible assets (intellectual properties such as trademarks, copyrights, patents, know-how, domains, right to
use software, etc. ) owned by or could be disposed within rights of Party C during the term of this Agreement.

 

“Registered Capital of Party C”
means registered capital of Party C in amount of 5,000,000 CNY at the effective date of this Agreement, and any additional new
registered capital added in any form in the term of validity of this Agreement.

 

“Control” means owning
the right or power (whether execute or not) to manage others’ business operation, management and rules and regulations, whether
through holding share interests with voting right, agreements or other ways. However, if a person owns more than 50 percent shares
with voting right, or can control the voting of more than 50 percent shares with voting right, or can control a majority of the
composition of the Board of Directors, it is assumed that the control of the right or power exists.

 

“Encumbrance” is the
purpose of this Agreement, it means any kind of legal restriction of properties and rights and interests of the third party, including
but without limitation of liens, pledges, collateral, rights or claims of others, voting right proxy, voting right trust or similar
arrangements, defects of ownership, ownership reserve agreement, options, restrictive contracts, transfer restrictions, preemptive
purchase right or preemptive bid right, or any other similar rights and interests, or any kind of other legal restrictions.

 

“Share Purchase Right”
means Party A’s right to purchase shares of the company in accordance with this Agreement.

 

“Execution of Rights”
means Party A execute its share purchase right or assets purchase right.

 

“Major Assets” means
assets of which the book entry exceeds 300,000 CNY, or assets which might have great influence to business operation of any party
herein.

 

“Major Agreements” means
as for Party C, any agreements that Party C is involved or have great influence to Party C’s business or assets.

 

“Share rights” means
share rights and interests of Party C held by Party B.

 

“Assignee” means Party
A or designee of Party A, and designee must be 1) Party A or direct/indirect shareholders of Party A (at the time of executing
share purchase right or assets purchase right); or 2) director of Party A or direct/indirect shareholder of Party A, citizen of
PRC (at the time of executing share purchase right).

 

    	 	 	 

     

    

 

“Person” includes individuals,
corporations, partnership, sole proprietorship, other corporations or entities.

 

“China” means People’s
Republic of China, not including Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan Region
in this Agreement.

 

“Law of PRC” means current
effective laws, administrative rules and regulations, local rules and regulations, judicial interpretation and other standard legal
documents with binding force, no matter come into effect before or after signing date of this Agreement.

 

“Subsidiary” means person
directly/indirectly controlled by someone.

 

“Transfer Consideration”
means all considerations paid by assignee to Party B or Party C in order to obtain shares or assets it purchased.

 

		2.	Authorization of share purchase right and asset purchase right

 

		2.1.	Party B agrees to irrevocably, unconditionally and monopolistically and exclusively authorize Party
A with share purchase right. With such share purchase right, Party A has the right to request Party B transfer Share rights to
Assignee in accordance with this Agreement within legal restriction. Party A agrees to accept. Except for Assignee, any other third
party should not own share purchase right or any rights related to share rights.

 

		2.2.	Party C agrees with Party B to authorize specified share purchase right to Party A in accordance
with this Agreement.

 

		2.3.	Party C agrees to irrevocably, unconditionally and monopolistically and exclusively authorize Party
A with share purchase right. With such share purchase right, Party A has the right to request Party C transfer Share rights to
Assignee in accordance with this Agreement within legal restriction. Party A agrees to accept. Except for Assignee, any other third
party should not own share purchase right or any rights related to share rights.

 

		2.4.	Party B agrees with Party C to authorize specified share purchase right to Party A in accordance
with this Agreement.

 

		3.	Execution methods of rights 

 

		3.1.	Party A has absolute right to decide time, methods and frequency of execute rights within legal
restriction of PRC.

 

    	 	 	 

     

    

 

		3.2.	Party A has the right request Party C to transfer share rights to assignee within legal restriction
of PRC.

 

		3.3.	Party A has the right request Party C to transfer corporate assets to assignee within legal restriction
of PRC.

 

		3.4.	As for share purchase right, Party A can solely decide the amount of shares transfer from Party
B to Assignee every time executing share purchase right. Party B should transfer corresponding amount of shares to Assignee as
requested by Party A. Assignee should pay Party B the corresponding Transfer Consideration of shares purchased at the time of executing
rights.

 

		3.5.	As for asset purchase right, Party A can solely decide that Party C should transfer assets purchased
to Assignee every time executing asset purchase right. Party C should transfer corresponding assets to Assignee as requested by
Party A. Assignee should pay Party B the corresponding Transfer Consideration at the time of executing rights.

 

		3.6.	Party A shall accept partial or all shares or assets purchased by itself or through designated
third party when executing rights.

 

		3.7.	Party A should send notification of executing share purchase right or asset purchase right to Party
B or Party C before execution (“Notification of Execution”, see attachment 1 and 2 for notification format). Party
B or Party C should transfer shares or assets purchased to Assignee as requested in Notification of Execution within five (5) Business
Days after receiving Notification of Execution or within other time period as requested by Assignee in accordance with this Agreement.

 

		4.	Transfer Consideration

 

		4.1.	Transfer Consideration paid to Party B by Assignee each time executing share purchase right should
be the lesser of 1) actual total amount paid by Party B to Party C as for the shares purchased, and 2) the lowest price permitted
by law.

 

		4.2.	Transfer Consideration paid to Party B by Assignee each time executing asset purchase right should
be the lesser of 1) net book value of the assets purchased and 2) the lowest price permitted by law.

 

		5.	Acknowledgments and Confirmations

 

		5.1.	Party B hereby respectively and jointly acknowledges and confirms:

 

		5.1.1.	Party B is Chinese citizen with full capacity for civil conduct, full and independent juridical
status and legal capacity to sign and conduct this Agreement, and qualification as independent subject of litigant.

 

    	 	 	 

     

    

 

		5.1.2.	Party C is a LIMITED LIABILITY COMPANY established and existed under
the law of PRC with independent legal qualification and capacity to authorize third party to sign and conduct this Agreement, and
qualification as independent subject of litigant.

 

		5.1.3.	Party B has adequate power and authorization to sign and conduct this Agreement and other documents
to be signed in accordance with this Agreement, and adequate power and authorization to complete the transaction contemplated hereby.

 

		5.1.4.	This Agreement is signed by Party B legally and effectively and constitutes legal, effective, binding
and executive obligations of Party B.

 

		5.1.5.	Party B is legal owner of share rights. Except for rights set forth in the Pledge Agreement, Shareholder
Voting Right Authorization Agreement signed among Party A, B and C as of the signing date of this Agreement, the rights and interests
of the shares bear no other encumbrances, pledges, sales or transfers. Assignee will obtain full rights and interests on the shares
after executing the share purchase right, the shares purchased bears no other encumbrances.

 

		5.1.6.	The corporate assets bear no other encumbrances. Assignee will obtain full rights and interests
on the assets after executing the asset purchase right, the assets purchased bear no other encumbrances.

 

		5.1.7.	Signing and conduct of this Agreement or other related agreements will NOT:

 

(i) Violate
any law of PRC;

 

(ii) Collide
with Memorandum and Articles of Association of Party C or other organizational documents;

 

(iii) Breach
any binding agreements or documents signed by one party;

 

(iv) Violate
authorization of any approval or permission issued to any party or any condition of good standing; or

 

(v) Lead to
suspension, revocation or additional conditions of any approval or permission issued to any party.

 

		5.1.8.	There is neither suspending or potential litigation, arbitration, tax or administration investigation
or penalty related to shares or assets of Party C, nor any suspending or potential litigation, judicial proceedings, tax disputes,
request for arbitration or any appeals forwarded to any governmental departments that might adversely affect Party C’s financial
condition or capability to fulfill obligations under this Agreement.

 

    	 	 	 

     

    

 

		5.2.	Party C hereby acknowledges and confirms:

 

		5.2.1.	Party C is a LIMITED LIABILITY COMPANY established and existed under
the law of PRC with independent legal qualification and capacity to authorize third party to sign and conduct this Agreement, and
qualification as independent subject of litigant.

 

		5.2.2.	Party C has adequate power and authorization to sign and conduct this Agreement and other documents
to be signed in accordance with this Agreement, and adequate power and authorization to complete the transaction contemplated hereby.

 

		5.2.3.	This Agreement is signed by Party C legally and effectively and constitutes legal, effective, binding
and executive obligations of Party B.

 

		5.2.4.	The corporate assets bear no other encumbrances. Assignee will obtain full rights and interests
on the assets after executing the asset purchase right, the assets purchased bear no other encumbrances.

 

		5.2.5.	Signing and conduct of this Agreement or other related agreements will NOT:

 

		5.2.5.1.	Violate any law of PRC;

 

		5.2.5.2.	Collide with Memorandum and Articles of Association of Party C or other organizational documents;

 

		5.2.5.3.	Breach any binding agreements or documents signed by one party;

 

		5.2.5.4.	Violate authorization of any approval or permission issued to any party or any condition of good
standing; or

 

		5.2.5.5.	Lead to suspension, revocation or additional conditions of any approval or permission issued to
any party.

 

		5.2.6.	Except for liabilities generating during normal business processes, Party C has no outstanding
liabilities.

 

		5.2.7.	There is neither suspending or potential litigation, arbitration, tax or administration investigation
or penalty related to shares or assets of Party C, nor any suspending or potential litigation, judicial proceedings, tax disputes,
request for arbitration or any appeals forwarded to any governmental departments that might adversely affect Party C’s financial
condition or capability to fulfill obligations under this Agreement.

 

    	 	 	 

     

    

 

		5.3.	Party A hereby acknowledges and confirms:

 

		5.3.1.	Party A is a foreign-invested enterprise established and existed
under the law of PRC with independent legal qualification and capacity to sign and conduct this Agreement, and qualification
as independent subject of litigant.

 

		5.3.2.	Party A has adequate power and authorization to sign and conduct this Agreement and other documents
to be signed in accordance with this Agreement, and adequate power and authorization to complete the transaction contemplated hereby.

 

		5.3.3.	This Agreement is signed by Party A legally and effectively and constitutes legal, effective, binding
and executive obligations of Party B.

 

		6.	Commitments of Party B

 

Party B hereby promises:

 

		6.1.	Within term of validity of this Agreement, without written consent of Party A, Party B shall NOT:

 

		6.1.1.	Transfer or dispose in any other form with shares or set put any encumbrances on corporate shares.

 

		6.1.2.	Increase or decrease registered capital, or change the registered capital structure of Party C,
prompt or permit Party C to be separate from or combined with other entities.

 

		6.1.3.	Dispose or prompt management officers of Party C to dispose major assets (not including routine
business operation) of Party C, or put any encumbrances on any major assets.

 

		6.1.4.	Terminate or prompt management officers of Party C to terminate any major agreements signed by
Party C, or sign any other agreements collide with current major agreements.

 

		6.1.5.	Appoint, hire or replace any directors, supervisors or management officers of Party C that should
be appointed or hired by Party B.

 

		6.1.6.	Prompt Party C to allocate or actually allocate any profits, dividends, or interest of shares;

 

    	 	 	 

     

    

 

		6.1.7.	Prompt or permit Party C to be terminated, liquidated or dissolved;

 

		6.1.8.	Terminate, liquidate or dissolve Party C or damage or possibly damage good standing of Party C,
or violate normal financial and business standards and conventions.

 

		6.1.9.	Amend Party C’s articles of association;

 

		6.1.10.	Prompt or permit party C to merge or combine with any other entities, or acquire or invest in any
other entities;

 

		6.1.11.	Prompt or permit Party C to borrow or lend any fund, or provide guarantees or engage in guarantee
activities of any form, or bears any major obligations except routine business operation; and

 

		6.2.	Party B should make every effort to develop Party C’s business and ensure Party C’s
business operation conforms to law of PRC. Party B should or should not take any action that would damage assets, reputation and
operational effectiveness of Party C.

 

		6.3.	Party B should notify to Party A about any situation that would adversely affect existence, business
operation, financial condition, assets and reputation, and take any action to eliminate any negative condition mentioned above
with Party A’s consent.

 

		6.4.	Party B should notify to Party A about any current or potential litigation, arbitration or administration
procedures on the shares it held, and take any action to cope with the litigation, arbitration or administrative procedures mentioned
above with Party A’s consent.

 

		6.5.	Party B should sign all necessary documents to maintain ownership of the shares, take all necessary
action and make all accusations to demur on all claims.

 

		6.6.	Appoint Party A’s designated person to be director of Party C as requested by Party A.

 

		6.7.	If Party A send out Execution Notification about transferring company shares,

 

		6.7.1.	Party B should convene shareholders' meeting of Party C at once, approve Party B to transfer the
purchased shares to the assignee at the transfer consideration by passing the resolution and take all other necessary measures
(including prompting Party C’s executive director or board of directors to approve);

 

    	 	 	 

     

    

 

		6.7.2.	Party B should sign share transfer agreement with Asignee immediately in order to transfer purchased
shares to Asignee at the transfer consideration. Party B should provide necessary assistance (including provide or sign all related
legal documents, apply and complete necessary government approval or registration procedures, and undertake all other related obligations)
as requested by Party A and under laws and regulations, in order that the Asignee could accept the purchased shares, and ensure
the shares bear no encumbrances.

 

		6.8.	If Party B receives any form of profit distribution, dividends or interests from Party C, Party
B promises to return such fund (after paying taxes) to Party A;

 

		6.9.	If Party C receives fund in any form by transferring shares of Party C or any distribution by liquidating
Party C, and amount of such fund exceeds due amount Party C should pay Party A in relevant loan agreements, Party B should return
the fund after eliminating related taxes and due balances to Party A.

 

		6.10.	In order to protect execution of Party A’s share purchase right, Party B should sign additional
three blank Share Transfer Agreements while agreeing to sign this Agreement. Such agreements should be kept by Party C in order
that Party A could accept corresponding shares under this Agreement even if Party B does not conduct this Agreement timely.

 

		7.	Commitments of Party C

 

		7.1.	Party B hereby promises:

 

		7.1.1.	If signing and conducting this Agreement and authorizing share purchase right or assets purchase
right needs to obtain consent, approval, exemption, authorization, registration or application procedure of third party od government
departments, Party C should make every effort to provide assistance.

 

		7.1.2.	Party C should NOT assist or permit Party B to transfer or dispose company shares in any other
forms or set any encumbrances on company shares without Party A’s written consent.

 

		7.1.3.	Party C should NOT transfer or dispose any major assets (not including routine business operation)
of Party C in any form or set any encumbrances on Party C’s assets without Party A’s written consent.

 

		7.1.4.	Party C should NOT engage in or permit to engage in any behavior that would adversely affect Party
A’s rights and interests under this Agreement, including without limitation, the constrained behaviors in subsection 6.1.

 

		7.1.5.	Party C should not make any supplements or amendments to M&A documents of Party C in any from
to add or reduce registered capital of Party C, or change the registered capital structure in any other ways without Party A’s
prior written consent.

 

    	 	 	 

     

    

 

		7.1.6.	Maintain its existing and asset value, operate its business and deal with other affairs timely
and cautiously in accordance with good financial and business standards and conventions. Do or do not make any action that would
affect it operational conditions and asset value.

 

		7.1.7.	Should not sign or prompt its subsidiaries to sign any major contracts (not including routine business
operation) without Party A’s prior written consent. Contracts involving more than 300,000 CNY are considered major contracts
as of this subsection 7.1.7.

 

		7.1.8.	Provide Party A with documents relate to Party C’s operational and financial conditions as
requested.

 

		7.1.9.	Party C should purchase insurance related to its assets and business from Party A’s insurance
company, the amount and type of which should be the same as similar companies.

 

		7.1.10.	Party C should not merge or combine with any other entities, or acquire or invest in any other
entities without Party A’s written consent.

 

		7.1.11.	Notify to Party A immediately about any current or potential litigation, arbitration or administration
procedures on Party C’s assets, business or revenue.

 

		7.1.12.	Sign all necessary documents, take all necessary action and make all necessary accusations, or
demur on all claims to maintain ownership of all of Party C’s assets and other rights.

 

		7.1.13.	Should NOT distribute any dividends or interests to Party B in any form without Party A’s
written consent.

 

		7.1.14.	Appoint Party A’s designated
person to be director of Party C as requested by Party A.

 

		7.2.	If Party A send out Execution Notification about transferring company shares,

 

		7.2.1.	Party C should convene shareholders' meeting of Party C at once, approve Party B to transfer the
purchased shares to the assignee at the transfer consideration by passing the resolution and take all other necessary measures;

 

    	 	 	 

     

    

 

		7.2.2.	Party C should sign share transfer agreement with Asignee immediately in order to transfer purchased
shares to Asignee at the transfer consideration. Party C should provide necessary assistance (including provide or sign all related
legal documents, apply and complete necessary government approval or registration procedures, and undertake all other related obligations)
as requested by Party A and under laws and regulations, in order that the Asignee could accept the purchased shares, and ensure
the shares bear no encumbrances.

 

		7.3.	The cost paid due to Party A purchasing all or partial assets of Party C (it constitutes Party
A’s partial income) should be returned to Party A as the following forms: 1) Service fee under Exclusive Management Consulting
and Technology Service Agreement; 2) Dividends distributed to Party B with prior approval by Party A, such dividends should return
to Party A under this Agreement; or 3) if Party B obtains Party C’s properties or assets when Party C is liquidated or terminates
operation, Party B should return such properties or assets to Party A under this Agreement.

 

		8.	Confidentiality

 

		8.1.	Subject to subsection 8.2 hereunder, content in this Agreement, and any oral or written materials
exchanged among all parties in preparation of this Agreement shall be deemed as confidential information(“Confidential
Information”). All confidential information thereof will be maintained confidential and will not be disclosed to any
third parties without written consent of the disclosing party (“Disclosing Party”).

 

		8.2.	After this Agreement terminates, all parties should return all documents, materials and carriers
with information provided by Disclosing Party back to Disclosing Party; or destroy confidential information with prior written
consent of disclosing party, including deleting all confidential information provided by disclosing party from any restoring devices.

 

		8.3.	Restriction in Section 8.2 does NOT apply for:

 

		8.3.1.	Information went public before disclose by disclosing party;

 

		8.3.2.	Information went public not attributable to any party;

 

		8.3.3.	Information could be proved by any party that has been owned or developed before disclosed by disclosing
party.

 

		8.3.4.	Any information should be disclosed in accordance with applicable laws and regulations, stock exchange
rules, or order by government or court;

 

		8.3.5.	Any information disclosed to shareholders, investors, legal or financial consultant by any party
regarding transaction in this Agreement, while shareholders, investors, legal or financial consultant should comply with confidentiality
clauses as well. Each party should be liable for breaching the contract if staff of or agencies hired by this party breached the
confidentiality clauses. This section will survive termination of this Agreement.

 

    	 	 	 

     

    

 

		8.4.	All parties agree this section 8 will survive modification, rescission or termination of this Agreement.

 

		9.	Validation and Termination 

 

		9.1.	This Agreement will be signed and comes into effect as of the date marked on the top. This Agreement
will terminate after all companies shares and assets have been transferred to Asignee legally.

 

		9.2.	Party B or Party C should not terminate this Agreement in advance unless gross negligence or deceit
by Party A occurs. Despite of this, Party A could terminate this Agreement at any time by sending 30-days’ prior written
notification of Party B and Party C.

 

		9.3.	This Agreement shall be terminated with all parties’ consistent written consent.

 

		9.4.	Section 8, 11 and 12 will survive termination of this Agreement.

 

		9.5.	If Party B transfer company shares it holds to a third party with Party A’s prior written
consent, Party A will no long be a subject of this Agreement, while other Parties’ rights and obligations under this Agreement
should not be adversely affected.

 

		10.	Notification 

 

		10.1.	Any notice or correspondence under this Agreement shall be deemed served upon delivery by personal
delivery, registered mail, pre-paid postage or business express or fax to the address hereunder. Each notice should be sent by
email as well. The effective delivery date is defined as follows:

 

		10.2.	If the notice is sent though personal delivery, express service or registered mail, pre-paid postage,
the date of reception or rejection at the notice address will be deemed as Delivery Date.

 

		10.3.	If the notice is sent by fax, the date of success delivery will be deemed as effective Delivery
Date (proved by sending information automatically generated).

 

		10.4.	Notice addresses of both parties are as follows:

 

    	 	 	 

     

    

 

Party A : Hangzhou
Suyuan Agricultural Technology Co., Ltd. 

Address:
Room 1107, Building 1, No. 400 Jianger Road, Changhe Street, Binjiang District, Hangzhou City.

Consignee: Yan Sun

Mobile: +86-0571-87555801

Fax: +86-0571-87555826

 

Party B: Zhengyu
Wang

Address:
F11, Building T3, Herui Technology Park, No.475 Changhe Road, Binjiang District, Hangzhou City.

Mobile: +86-0571-87555829

Fax: +86-0571-87555826

 

Party C: Hangzhou
Nongyuan Network Technology Co., Ltd.

Address:
Room 1106, Building 1, No. 400 Jianger Road, Changhe Street, Binjiang District, Hangzhou City.

Consignee: Yan Sun

Mobile:+86-0571-87555801

Fax: +86-0571-87555826

 

		10.5.	Any party can send notice to the other parties to change the notice address according to this section.

 

		11.	Default Liabilities and Compensation 

 

		11.1.	If any party (“Default Party”) violates any section or does not fulfill or defers fulfill
obligations under this Agreement, it should be deemed as default (“Default”). Any other party (“Observant Party”)
has the right to request Default Party to make amendments or take remedy measures in reasonable time period. If Default Party fails
to take necessary remedy measures as requested by Observant Party ten (10) days after receiving notification from Observant Party,
Observant Party has the right to decide at its sole discretion to:

 

		11.1.1.	If Party B or Party C is the Default Party, Party A has the right to terminate this Agreement and
request Default Party to compensate for all direct or indirect losses caused by default (including prospectus loss in profits);

 

		11.1.2.	If Party A is the Default Party, Observant Parties have the right to request Default Party to compensate
for all losses relates. Unless otherwise specified by law, Observant Party has no right to terminate this Agreement in any condition.

 

		11.2.	If any litigation, arbitration, claims or other requests related to Party A occur due to Party
A’s signing or conducting this Agreement, and caused any direct or indirect losses(including profit loss), damage, liabilities
or fees (including legal fee) to Party A, Party B and Party C should bear joint liabilities to protect Party A from any damage,
unless this loss, damage, liabilities or fees are caused by Party A’s deliberate gross negligence.

 

    	 	 	 

     

    

 

		12.	Governing Law and Dispute Resolving

 

		12.1.	his Agreement shall be concluded, executed, interpreted, construed, conducted, amended, terminated
according to the laws of People’s Republic of China. Disputes
shall be resolved according to the laws of PRC.

 

		12.2.	If any disputes caused by interpreting and conducting this Agreement arises, all parties of this
Agreement shall settle the disputes through friendly negotiation in the first place. If the disputes remain unresolved 30 days
after one party send written request to resolve the disputes to the other party, any party shall submit relevant disputes to China
International Economic and Trade Arbitration Commission (the “Commission”
or “CIETAC”).
The disputes shall be resolved solely and exclusively by means of arbitration to be conducted in Hangzhou, in Chinese language.
The decision of arbitration is final and has binding force on all parties.

 

		12.3.	To the extent permitted by law, all parties agree and authorize that the said arbitration agency
has the right to make adjudication to take shares or assets of Party C as compensation, to issue injunction(if needed for business
operation or mandatory assets transfer), or to make adjudication to liquidate Party C.

 

		12.4.	To the extent permitted by law, while the arbitration court is being built or in proper conditions,
all parties agree and authorize that jurisdiction court has the right to enact provisional measures to support arbitration process.

 

		12.5.	While any dispute caused by interpreting and conducting this Agreement is in process of arbitration,
all parties of this Agreement shall continue to execute other rights and fulfill other obligations under this Agreement other than
the issue in dispute.

 

		13.	Others

 

		13.1.	This Agreement is made in quadruplicate with all parties herein holding one copy each. All copies
have the same legal effect.

 

		13.2.	Any rights, power or remedy approaches authorized to any party under any section of this Agreement
shall not exclude other rights, power or remedy approaches authorized to any party under other sections of this Agreement or by
law.

 

		13.3.	Any Party shall give up its right under any of section of this Agreement in written form with all
parties’ signatures. If one party fails to or defers to execute its rights, power or remedy (“Due Rights”)
under this Agreement or by law, it should not be considered as giving up its Due Rights; Any party giving up all or partial due
rights shall not prevent it from executing such rights or other due rights in other ways.

 

		13.4.	Headline of this Agreement is merely set easy for read, it should not be used to explained, illustrate
or otherwise affect meaning of this Agreement or any sections hereunder.

 

    	 	 	 

     

    

 

		13.5.	If one or more provisions of this Agreement is adjudicated invalid, illegal or unenforceable by
any law or regulation, the validity, legality and enforcement of other provisions of this Agreement will not be affected or damaged.
All parties should negotiate friendly to substitute legal and valid provisions to the maximum expectation of both sides for invalid,
illegal or unenforceable provisions. Economic effects produced by such valid provisions should be similar with that produced by
those invalid, illegal or unenforceable provisions as much as possible.

 

		13.6.	Any amendments, supplements or change to this Agreement shall be effective with written documents.

 

		13.7.	Party A can transfer it rights and obligations under this Agreement to third party without Party
B’s or Party C’s consent, but Party A should notify Party B and Party C about affairs related to transfer. Party B
and Party C should not transfer any rights and obligations under this Agreement to any third party unless with Party A’s
prior written consent. Successor or authorized surrenderee (if applicable) of Party B and Party C should undertake their obligations.

 

		13.8.	This Agreement is binding to successors of all parties.

 

		13.9.	All parties agree to sign any necessary documents quickly and rake necessary actions in order to
conduct this Agreement or achieve goal of this Agreement.

 

		13.10.	Each party should undertake any and all taxes, fees, and expenditures generated by law of PRC in
preparation of signing this Agreement and all transfer agreements and in order to complete transaction set in this Agreement and
all transfer Agreements.

 

		13.11.	If at any time Party A believes carry on conducting this Agreement, or maintain share purchase
right or asset purchase under this Agreement, or purchasing company shares or assets under this Agreement violates law of PRC due
to issuance or amendments to law of PRC, or interpretation or application of law of PRC changes, or related register procedure
changes, Party B and Party C should take all necessary actions and sign all necessary documents as requested in Party A’s
written request, in order to make every effort to keep effectiveness of share purchase right and asset purchase right under this
Agreement, and ensure purchasing company shares and assets under this Agreement or in other ways.

 

[PORTION OF PAGE INTENTIONALLY LEFT BLANK]

 

    	 	 	 

     

    

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed by their respected Officers, thereunto duly authorized as of the date first above written.

 

PARTY A: Hangzhou Suyuan Agricultural
Technology Co., Ltd.

/s/ Corporate Chop

 

	Signature: 		 

 

By: /s/ Zhengyu Wang

Name: Zhengyu Wang

Designation: Executive Officer & General
Manager

 

Party B: Zhengyu Wang

 

Signature: /s/ Zhengyu Wang  

 

PARTY C:Hangzhou Nongyuan Network Technology
Co., Ltd.

/s/ Corporate Chop

 

	Signature: 		 

 

By: /s/ Zhengyu Wang

Name: Zhengyu Wang

Designation: Executive Officer & General
Manager

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}]]