Document:

Exhibit 10.2

 

iFRESH INC.

EMPLOYMENT AGREEMENT

 

This Employment
Agreement (this “Agreement”) is made and entered into on April 1st,
2018 (the “Effective Date”) by and between iFresh Inc. (the “Company”)
and Xin He (“Executive”). The Company and Executive are hereinafter collectively referred to as the “Parties”,
and individually referred to as a “Party”.

 

Recitals

 

A. The Company desires assurance
of the association and services of Executive in order to retain Executive’s experience, skills, abilities, background and
knowledge, and is willing to engage Executive’s services on the terms and conditions set forth in this Agreement.

 

B. Executive desires to be in the
employ of the Company, and is willing to accept such employment on the terms and conditions set forth in this Agreement.

 

Agreement

 

In consideration of
the foregoing Recitals and the mutual promises and covenants herein contained, and for other good and valuable consideration, the
Parties, intending to be legally bound, agree as follows:

 

1.
Employment.

 

1.1
Title. Effective as of the Effective Date, Executive’s position shall be Chief Financial Officer, subject
to the terms and conditions set forth in this Agreement.

 

1.2
Term. The term of this Agreement shall begin on the Effective Date and shall continue for a period of three (3)
years or until it is terminated pursuant to Section 4 herein (the “Term”). However, that Executive’s
employment under this Agreement, and the Term, shall be automatically renewed for additional one year periods commencing on the
third anniversary of the date hereof and, thereafter, on each successive anniversary of such date unless either the Company or
Executive notifies the other party in writing within sixty (60) days prior to any such anniversary that it or he desires to terminate
Executive’s employment under this Agreement.

 

1.3
Duties. Executive shall have the customary powers, responsibilities and authorities of the Chief Financial Officer
of corporations of the size, type and nature of the Company, as it exists from time to time, including the responsibilities listed
on Schedule A. Executive shall report to Chief Executive Officer of the Company and the Board of Directors of the Company.
Employee shall be permitted to work remotely.

 

     

     

    

 

1.4
Governing Agreement. The employment relationship between the Parties shall be governed by this Agreement.

 

2.
Loyalty; Noncompetition; Nonsolicitation.

 

2.1
Loyalty. During Executive’s employment by the Company, Executive shall devote substantially all his business
time to the performance of Executive’s duties under this Agreement. Notwithstanding the foregoing, except as otherwise agreed
to in writing, Executive shall have the right to perform such incidental services as are necessary in connection with (a) his private
passive investments, (b) his charitable or community activities, (c) his participation in trade or professional organizations,
and (d) his service on any third-party corporate entity that is not a Competitive Entity (as defined in Section 2.3), so long as
these activities do not materially interfere with Executive’s duties hereunder. Executive may also provide limited services
to other parties provided such services are without remuneration.

 

2.2
Agreement not to Participate in Company’s Competitors. During the Term, Executive agrees not to acquire,
assume or participate in, directly or indirectly, any position, investment or interest known by Executive to be adverse or antagonistic
to the Company, its business, or prospects, financial or otherwise, or in any company, person, or entity that is, directly or indirectly,
in competition with the business of the Company or any of its Affiliates (as defined below). For purposes of this Agreement, “Affiliate,”
means, with respect to any specific entity, any other entity that, directly or indirectly, through one or more intermediaries,
controls, is controlled by or is under common control with such specified entity.

 

2.3
Covenant not to Compete. During the Term and for a period of twelve (12) months thereafter (the “Restricted
Period”), Executive shall not engage in competition with the Company and/or any of its Affiliates, either directly
or indirectly, in any manner or capacity, as adviser, principal, agent, affiliate, promoter, partner, officer, director, employee,
stockholder, owner, co-owner, consultant, or member of any association or otherwise, in any phase of the Company’s business
in the cities in which the Company operates or in which it has plans to expand(a “Competitive Entity”),
except with the prior written consent of the Company.

 

2.4
Nonsolicitation. During the Restricted Period, Executive shall not: (i) solicit or induce, or attempt to
solicit or induce, any employee of the Company or its Affiliates to leave the employ of the Company or such Affiliate; or (ii)
solicit or attempt to solicit the business of any client or customer of the Company or its Affiliates with respect to products,
services, or investments similar to those provided or supplied by the Company or its Affiliates.

 

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2.5
Acknowledgements. Executive acknowledges and agrees that his services to the Company pursuant to this Agreement
are unique and extraordinary and that in the course of performing such services Executive shall have access to and knowledge of
significant confidential, proprietary, and trade secret information belonging to the Company. Executive agrees that the covenant
not to compete and the nonsolicitation obligations imposed by this Section 2 are reasonable in duration, geographic area, and scope
and are necessary to protect the Company’s legitimate business interests in its goodwill, its confidential, proprietary,
and trade secret information, and its investment in the unique and extraordinary services to be provided by Executive pursuant
to this Agreement. If, at the time of enforcement of this Section 2, a court holds that the covenant not to compete and/or the
nonsolicitation obligations described herein are unreasonable or unenforceable under the circumstances then existing, then the
Parties agree that the maximum duration, scope, and/or geographic area legally permissible under such circumstances will be substituted
for the duration, scope and/or area stated herein.

 

3.
Compensation of the Executive.

 

3.1
Base Salary. The Company shall pay Executive a base salary (the “Base Salary”) at the
annualized rate of Two Hundred Fifty Thousand Dollars ($250,000.00), less payroll deductions and all required withholdings, payable
in regular periodic payments in accordance with the Company’s normal payroll practices. The Base Salary shall be prorated
for any partial year of employment on the basis of a 365-day fiscal year. The Company may increase, but not decrease (except in
connection with a Company-wide decrease in executive compensation), Executive’s Base Salary from time to time, and if so
increased, “Base Salary” shall include such increases for purposes of this Agreement.

 

3.2
Bonuses. At the sole discretion of the Board of Directors of the Company (the “Board”)
or the compensation committee of the Board (the “Compensation Committee”), following each calendar year
of employment, Executive shall be eligible to receive an additional cash bonus on Executive’s attainment of certain financial,
clinical development, and/or business milestones (the “Milestones”) to be established annually by the
Board or the Compensation Committee. The determination of whether Executive has met the Milestones, and if so, the bonus amount
(if any) that will be paid, shall be determined by the Board or the Compensation Committee in its sole and absolute discretion.

 

3.3 Stock Grants. Executive shall
be granted 300,000 (Three Hundred Thousand) shares of the Company’s common stock (the “Shares”) under the Company’s
equity incentive plan. The Shares shall vest as follows: one third (1/3) on the first year anniversary of the Effective Date, one
third (1/3) on the second anniversary of the Effective Date, and the final one third (1/3) on the third anniversary of the Effective
Date, subject to Executive’s continued employment with the Company.

 

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3.4
Expense Reimbursements. The Company will reimburse Executive for all reasonable business expenses Executive incurs
in conducting his duties hereunder, pursuant to the Company’s usual expense reimbursement policies, but in no event later
than ninety (90) days after the end of the calendar month following the month in which such expenses were incurred by Executive;
provided that Executive supplies the appropriate substantiation for such expenses no later than the end of the calendar month following
the month in which such expenses were incurred by Executive. The Company will reimburse Executive for airfare for up to 2 round
trips to Chicago each month.

 

3.5
Employment Taxes. All of Executive’s compensation shall be subject to customary withholding taxes and any
other employment taxes as are commonly required to be collected or withheld by the Company.

 

3.6
Benefits. The Executive shall, in accordance with Company policy and the applicable plan documents, be eligible
to participate in benefits under any benefit plan or arrangement, including medical, dental, vision, disability and life insurance
programs, that may be in effect from time to time and made available to the Company’s senior management employees, subject
to the terms and conditions of those benefit plans.

 

3.7
Holidays and Vacation. Executive shall receive fifteen (15) days of paid vacation per year. In addition to such
paid vacation, Executive shall receive all paid Company holidays in accordance with Company policy.

 

4.
Termination.

 

4.1
Termination by the Company. Executive’s employment with the Company is at will and may be terminated by
the Company at any time and for any reason, or for no reason, including, but not limited to, under the following conditions:

 

4.1.1
Termination by the Company for Cause. The Company may terminate Executive’s employment under this Agreement
for “Cause” by delivery of written notice to Executive. Any notice of termination given pursuant to this Section 4.1.1
shall effect termination as of the date of the notice, or as of such other date as specified in the notice.

 

4.1.2
Termination by the Company without Cause. The Company may terminate Executive’s employment under this Agreement
without Cause at any time and for any reason, or for no reason. Such termination shall be effective on the date Executive is so
informed, or as otherwise specified by the Company.

 

4.2
Termination by Resignation of Executive. Executive’s employment with the Company is at will and may be
terminated by Executive at any time and for any reason, or for no reason, including via a resignation for Good Reason in accordance
with the procedures set forth in Section 4.6.3 below.

 

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4.3
Termination for Death or Complete Disability. Executive’s employment with the Company shall automatically
terminate effective upon the date of Executive’s death or Complete Disability (as defined below).

 

4.4
Termination by Mutual Agreement of the Parties. Executive’s employment with the Company may be terminated
at any time upon a mutual agreement in writing of the Parties. Any such termination of employment shall have the consequences specified
in such agreement.

 

4.5
Compensation Upon Termination.

 

4.5.1
Death or Complete Disability. If, during the Term of this Agreement, Executive’s employment shall be terminated
by death or Complete Disability, the Company shall pay to Executive, his estate, or his heirs, as applicable, (i) any Base Salary
owed to Executive through the date of termination; (ii) expenses reimbursement amounts owed to Executive; (iii) all unpaid bonuses
Executive earned prior to the termination date; (iv) a cash lump sum in respect to accrued and unused vacation benefits earned
through the date of termination at the rate in effect at the time of termination; (v) any payments and benefits to which Executive
(or his estate) is entitled pursuant to the terms of any employee benefit or compensation plan or program in which he participates
(or participated); and (vi) any amount to which Executive is entitled pursuant to any other written agreements between the Company
or any of its affiliates and Executive (the amounts in (i) through (vi) above being the “Termination Amounts”).
The Company shall pay Executive: (A) the amounts contained in items (i) through (iv) within ten (10) days following such termination;
(B) any payments associated with (v) in accordance to the terms of such plans or programs; and (C) any such amounts in (vi) in
accordance with the terms of such agreements, with the Termination Amounts being subject to the standard deductions and withholdings
(as applicable). All unvested Shares granted under Section 3.3 shall vest immediately upon Executive’s death or Complete
Disability.

 

4.5.2
Termination For Cause or Resignation without Good Reason. If, during the Term of this Agreement, Executive’s
employment is terminated by the Company for Cause, the Company shall pay Executive the Termination Amounts, less standard deductions
and withholdings. The Company shall thereafter have no further obligations to Executive under this Agreement, except as otherwise
provided by law. All unvested shares granted under Section 3.3 shall vest immediately upon Executive's termination. If Executive
resigns his employment hereunder without Good Reason, all unvested Stock Grant(s) under Section 3.3 shall be returned to the Company
for cancellation.

 

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4.5.3
Termination Without Cause or Resignation For Good Reason Not In Connection with a Change of Control. If the Company
terminates Executive’s employment without Cause, or if Executive resigns for Good Reason, at any time other than upon the
occurrence of, or within sixty (60) days prior to, or six (6) months following, the effective date of a Change of Control (as defined
below), the Company shall pay Executive the Termination Amounts, less standard deductions and withholdings. In addition, subject
to Executive furnishing to the Company an executed Release within the time period specified therein, and allowing the Release to
become effective in accordance with its terms, Executive shall be entitled to: (1) severance in the form of continuation of his
salary (at the Base Salary rate in effect at the time of termination, but prior to any reduction triggering Good Reason) for twelve
(12) months; (2) payment of Executive’s premiums to cover COBRA for a period of three (3) months following the termination
date; and (3) immediate accelerated vesting of any unvested Restricted Shares and unvested outstanding stock option(s). These payments
under (1), (2), and (3) above will be subject to standard payroll deductions and withholdings and will be made on the Company’s
regular payroll cycle, provided, however, that any payments otherwise scheduled to be made prior to the effective date of the Release
shall accrue and be paid in the first payroll period that follows such effective date. All unvested Shares granted under Section
3.3 shall vest immediately upon Executive’s termination for Good Reason.

 

4.5.4
Termination Without Cause or Resignation For Good Reason In Connection with a Change of Control. If the Company
terminates Executive’s employment without Cause, or if Executive resigns for Good Reason, upon the occurrence of, or within
sixty (60) days prior to, or within six (6) months following, the effective date of a Change of Control, the Company shall pay
Executive the Termination Amounts, less standard deductions and withholdings. In addition, subject to Executive furnishing to the
Company an executed Release within the time period specified therein, and allowing the Release to become effective in accordance
with its terms, then Executive shall be entitled to: (1) severance in the form of a lump sum payment equivalent to twelve (12)
months of his Base Salary (at the Base Salary rate in effect at the time of termination, but prior to any reduction triggering
Good Reason); (2) payment of Executive’s premiums to cover COBRA for a period of three, and (3) immediate accelerated vesting
of any unvested Restricted Shares and unvested outstanding stock option(s). These payments under (1), (2) and (3) above, will be
subject to standard payroll deductions and withholdings and will be made on the Company’s regular payroll cycle, provided,
however, that any payments otherwise scheduled to be made prior to the effective date of the Release shall accrue and be paid in
the first payroll period that follows such effective date. All unvested Shares granted under Section 3.3 shall vest immediately
upon Executive’s termination for Good Reason in connection with a Change of Control.

 

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4.6
Definitions. For purposes of this Agreement, the following terms shall have the following meanings:

 

4.6.1
Complete Disability. “Complete Disability” means that Executive is determined to be
permanently disabled pursuant to the Company’s long term disability plan and is receiving disability benefits under such
plan.

 

4.6.2
Cause. “Cause” for the Company to terminate Executive’s employment hereunder
shall mean the occurrence of any of the following events, as determined by the Company and/or the Board in its and/or their sole
and absolute discretion:

 

(i)
The willful failure, disregard or refusal by Executive to perform his material duties or obligations under this Agreement
or to follow lawful directions received by Executive from the Board, that results, or is reasonably likely to result, in material
injury (whether financial or otherwise) to the Company;

 

(ii)
Any grossly negligent act by Executive having the effect of materially injuring (whether financially or otherwise) the business
or reputation of the Company or any willful act by Executive intended to cause such material injury, except any acts (A) made by
Executive in connection with the enforcement of his rights, whether under this Agreement, any other agreement between the Company
or any affiliate and Executive, or pursuant to applicable law (e.g. disparagement, etc.) or (B) which are required by law or pursuant
to a subpoena or demand by a governmental or regulatory body, provided that Executive shall have the ability to cure such act (if
curable) within 30 days after Executive receives notice thereof from the Board;

 

(iii)
Executive’s indictment for any felony involving moral turpitude (including entry of a nolo contendere plea);

 

(iv)
The determination, after a reasonable and good-faith investigation by the Company, that the Executive engaged in discrimination
prohibited by law (including, without limitation, age, sex or race discrimination);

 

(v)
Executive’s misappropriation or embezzlement of the property of the Company or its Affiliates (whether or not a misdemeanor
or felony); or

 

(vi)
Material breach by Executive of this Agreement and/or of his Proprietary Information and Inventions Agreement (“PIIA”);
provided, however, that, any such termination of Executive shall only be deemed for Cause pursuant to this definition if: (1) the
Company gives the Executive written notice of the condition(s) alleged to constitute Cause, which notice shall describe such condition(s);
and (2) the Executive fails to remedy such condition(s) (if curable) within thirty (30) days following receipt of the written notice.

 

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4.6.3
Good Reason. For purposes of this Agreement, and subject to the caveat at the end of this Section, “Good
Reason” for Executive to terminate his employment hereunder shall mean the occurrence of any of the following events without
Executive’s prior written consent:

 

(i)
any reduction by the Company of Executive’s Base Salary as initially set forth herein, provided;

 

(ii)
a material breach by the Company (or any of its affiliates) of this Agreement or any other written agreement between the
Company or any of its affiliates and Executive; or

 

(iii)
a material adverse change in Executive’s duties, titles, authority, responsibilities or reporting relationships, with
such determination being made with reference to the greatest extent of your duties, titles, authority, responsibilities or reporting
relationships, etc. as increased (but not decreased) from time to time;

 

(iv)
any failure of the Company or any affiliate to pay Executive any amount owed to Executive under this Agreement or any other
written agreement plan or program between the Company, any affiliates and Executive;

 

(v)
any reduction in Executive’s bonus eligibility; or

 

(vi)
the assignment to Executive of duties materially inconsistent with his position with the Company.

 

Provided, however, that,
any such termination by the Executive shall only be deemed for Good Reason pursuant to this definition if: (1) the Executive
gives the Company written notice of his intent to terminate for Good Reason; which notice shall describe such condition(s); (2)
the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written notice the “Cure
Period”); and (3) Executive voluntarily terminates his employment within thirty (30) days following the end of the
Cure Period.

 

4.6.4
Change of Control. For purposes of this Agreement, “Change of Control” shall mean the occurrence,
in a single transaction or in a series of related transactions, of any one or more of the following events (excluding in any case
transactions in which the Company or its successors issues securities to investors primarily for capital raising purposes):

 

(i)
the acquisition by a third party (or more than one party acting as a group) of securities of the Company representing more
than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of
a merger, consolidation or similar transaction, provided that a Change of Control shall not be deemed to have occurred if such
third party (or a member of such group) owns in excess of 5% of the Company’s voting power as of the date of this Agreement;

 

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(ii)
a merger, consolidation or similar transaction following which the stockholders of the Company immediately prior thereto
do not own at least fifty percent (50%) of the combined outstanding voting power of the surviving entity (or that entity’s
parent) in such merger, consolidation or similar transaction;

 

(iii)
the dissolution or liquidation of the Company; or

 

(iv)
the sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company.

 

4.7
Survival of Certain Sections. Sections 3, 4, 5, 6, 7, 8, 9, 12, 13, 16, 17, 19 and 21 of this Agreement will
survive the termination of this Agreement.

 

4.8
Application of Internal Revenue Code Section 409A. Notwithstanding anything to the contrary set forth herein,
any payments and benefits provided under this Agreement (the “Severance Benefits”) that constitute “deferred
compensation” within the meaning of Section 409A of the Code and the regulations and other guidance thereunder and any state
law of similar effect (collectively “Section 409A”) shall not commence in connection with Executive’s
termination of employment unless and until Executive has also incurred a “separation from service” (as such term is
defined in Treasury Regulation Section 1.409A-1(h) (“Separation From Service”), unless the Company reasonably
determines that such amounts may be provided to Executive without causing Executive to incur the additional 20% tax under Section
409A.

 

It is intended that
each installment of the Severance Benefits payments provided for in this Agreement is a separate “payment” for purposes
of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that payments of the Severance Benefits
set forth in this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Section 409A provided
under Treasury Regulation Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However, if the Company (or, if applicable,
the successor entity thereto) determines that the Severance Benefits constitute “deferred compensation” under Section
409A and Executive is, on the termination of service, a “specified employee” of the Company or any successor entity
thereto, as such term is defined in Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence
of the adverse personal tax consequences under Section 409A, the timing of the Severance Benefit payments shall be delayed until
the earlier to occur of: (i) the date that is six months and one day after Executive’s Separation From Service, or (ii) the
date of Executive’s death (such applicable date, the “Specified Employee Initial Payment Date”),
the Company (or the successor entity thereto, as applicable) shall (A) pay to Executive a lump sum amount equal to the sum of the
Severance Benefit payments that Executive would otherwise have received through the Specified Employee Initial Payment Date if
the commencement of the payment of the Severance Benefits had not been so delayed pursuant to this Section and (B) commence paying
the balance of the Severance Benefits in accordance with the applicable payment schedules set forth in this Agreement.

 

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Notwithstanding anything
to the contrary set forth herein, Executive shall receive the Severance Benefits described above, if and only if Executive duly
executes and returns to the Company within the applicable time period set forth therein, but in no event more than forty-five days
following Separation From Service, the Release and permits the release of claims contained therein to become effective in accordance
with its terms. Notwithstanding any other payment schedule set forth in this Agreement, none of the Severance Benefits will be
paid or otherwise delivered prior to the effective date of the Release. Except to the extent that payments may be delayed until
the Specified Employee Initial Payment Date pursuant to the preceding paragraph, on the first regular payroll pay day following
the effective date of the Release, the Company will pay Executive the Severance Benefits Executive would otherwise have received
under the Agreement on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the
balance of the Severance Benefits being paid as originally scheduled. All amounts payable under the Agreement will be subject to
standard payroll taxes and deductions.

 

All reimbursements and
in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A to
the extent that such reimbursements or in-kind benefits are subject to Section 409A. All reimbursements for expenses paid pursuant
hereto that constitute taxable income to Executive shall in no event be paid later than the end of the calendar year next following
the calendar year in which Executive incurs such expense or pays such related tax. Unless otherwise permitted by Section 409A,
the right to reimbursement or in-kind benefits under this Agreement shall not be subject to liquidation or exchange for another
benefit and the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not
affect the expenses eligible for reimbursement, or in-kind benefits to be provided, respectively, in any other taxable year.

 

5.
Confidential And Proprietary Information.

 

As a condition of employment
Executive agrees to execute and abide by the PIIA.

 

6.
Assignment and Binding Effect.

 

This Agreement shall
be binding upon and inure to the benefit of Executive and Executive’s heirs, executors, personal representatives, assigns,
administrators and legal representatives. Because of the unique and personal nature of Executive’s duties under this Agreement,
neither this Agreement nor any rights or obligations under this Agreement shall be assignable by Executive. This Agreement shall
be binding upon and inure to the benefit of the Company and its successors, assigns and legal representatives. Any such successor
of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this purpose,
“successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger
or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company.

 

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7.
Notices.

 

All notices or demands
of any kind required or permitted to be given by the Company or Executive under this Agreement shall be given in writing and shall
be personally delivered (and receipted for) or faxed during normal business hours or mailed by certified mail, return receipt requested,
postage prepaid, addressed as follows:

 

If to the Company:

 

iFresh Inc.

2-39 54th Ave.

Long Island City, NY 11101

 

(718) 628-6200

 

Attn: Long Deng, Chairman and CEO

 

If to Executive:

 

Xin He

1030 N State St, Apt 15LM

 

Chicago, IL 60610

 

Tel: 917-981-1280

 

Email: hexin2@gmail.com

 

Any such written notice shall be deemed
given on the earlier of the date on which such notice is personally delivered or three (3) days after its deposit in the United
States mail as specified above. Either Party may change its address for notices by giving notice to the other Party in the manner
specified in this Section.

 

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8.
Choice of Law.

 

This Agreement shall
be construed and interpreted in accordance with the internal laws of the State of New York without regard to its conflict of laws
principles.

 

9.
Integration.

 

This Agreement, including
Exhibit A and the PIIA, contains the complete, final and exclusive agreement of the Parties relating to the terms and conditions
of Executive’s employment and the termination of Executive’s employment, and supersedes all prior and contemporaneous
oral and written employment agreements or arrangements between the Parties.

 

10.
Amendment.

 

This Agreement cannot
be amended or modified except by a written agreement signed by Executive and the Company.

 

11.
Waiver.

 

No term, covenant or
condition of this Agreement or any breach thereof shall be deemed waived, except with the written consent of the Party against
whom the wavier is claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of
any preceding or succeeding breach of the same or any other term, covenant, condition or breach.

 

12.
Severability.

 

The finding by a court
of competent jurisdiction of the unenforceability, invalidity or illegality of any provision of this Agreement shall not render
any other provision of this Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace
the invalid or unenforceable term or provision with a valid and enforceable term or provision, which most accurately represents
the Parties’ intention with respect to the invalid or unenforceable term, or provision.

 

13.
Interpretation; Construction.

 

The headings set forth
in this Agreement are for convenience of reference only and shall not be used in interpreting this Agreement. This Agreement has
been drafted by legal counsel representing the Company, but the Executive has been encouraged to consult with, and has consulted
with, Executive’s own independent counsel and tax advisors with respect to the terms of this Agreement. The Parties acknowledge
that each Party and its counsel has reviewed and revised, or had an opportunity to review and revise, this Agreement, and any rule
of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation
of this Agreement.

 

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14.
Representations and Warranties.

 

Executive represents
and warrants that Executive is not restricted or prohibited, contractually or otherwise, from entering into and performing each
of the terms and covenants contained in this Agreement, and that Executive’s execution and performance of this Agreement
will not violate or breach any other agreements between the Executive and any other person or entity.

 

15.
Counterparts.

 

This Agreement may be
executed in two counterparts, each of which shall be deemed an original, all of which together shall contribute one and the same
instrument. Signatures to this Agreement transmitted by fax, by email in “portable document format” (“.pdf”)
or by any other electronic means intended to preserve the original graphic and pictorial appearance of this Agreement shall have
the same effect as physical delivery of the paper document bearing original signature.

 

16.
Arbitration.

 

To ensure the rapid and
economical resolution of disputes that may arise in connection with the Executive’s employment with the Company, Executive
and the Company agree that any and all disputes, claims, or causes of action, in law or equity, arising from or relating to Executive’s
employment, or the termination of that employment, will be resolved, to the fullest extent permitted by law, by final, binding
and confidential arbitration pursuant to the Federal Arbitration Act in New York, New York conducted by the Judicial Arbitration
and Mediation Services/Endispute, Inc. (“JAMS”), or its successors, under the then current rules of JAMS
for employment disputes; provided that the arbitrator shall: (a) have the authority to compel adequate discovery for the resolution
of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written arbitration decision including
the arbitrator’s essential findings and conclusions and a statement of the award. Accordingly, Executive and the Company
hereby waive any right to a jury trial. Both Executive and the Company shall be entitled to all rights and remedies that either
Executive or the Company would be entitled to pursue in a court of law. The Company shall pay any JAMS filing fee and shall pay
the arbitrator’s fee. The arbitrator shall have the discretion to award attorneys fees to the party the arbitrator determines
is the prevailing party in the arbitration. Nothing in this Agreement is intended to prevent either Executive or the Company from
obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Notwithstanding
the foregoing, Executive and the Company each have the right to resolve any issue or dispute involving confidential, proprietary
or trade secret information, or intellectual property rights, by Court action instead of arbitration.

 

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17.
Indemnification.

 

The Company shall defend
and indemnify Executive in his capacity as an officer of the Company to the fullest extent permitted under the Delaware General
Corporation Law (“DGCL”). The Company shall also maintain a policy for indemnifying its officers and directors, including
but not limited to the Executive, for all actions permitted under the DGCL taken in good faith pursuit of their duties for the
Company, including but not limited to maintaining an appropriate level of Directors and Officers Liability coverage and maintaining
the inclusion of such provisions in the Company’s by-laws or articles of incorporation, as applicable and customary. The
rights to indemnification shall survive any termination of this Agreement.

 

18.
Trade Secrets Of Others.

 

It is the understanding
of both the Company and Executive that Executive shall not divulge to the Company and/or its subsidiaries any confidential information
or trade secrets belonging to others, including Executive’s former employers, nor shall the Company and/or its Affiliates
seek to elicit from Executive any such information. Consistent with the foregoing, Executive shall not provide to the Company and/or
its Affiliates, and the Company and/or its Affiliates shall not request, any documents or copies of documents containing such information.

 

[signature
page follows]

 

    14

     

    

  

In
Witness Whereof, the Parties have executed this Agreement as of the date first above written.

 

	iFRESH INC.	 
	 	 	 
	By:	/s/ Long Deng	 
	 	Name: Long Deng	 
	 	Title: Chairman and CEO	 

 

	Dated:  	April 1, 2018	 
	 	 	 
	Executive:	 
	 	 
	/s/Xin He	 
	Xin He	 
	 	 	 
	Dated:  	April 1, 2018	 

  

    15

     

    

 

SCHEDULE A

 

RESPONSIBILITIES

 

		·	Supervising and directing of the Company’s SEC
filings, including annual and quarterly reports with financial reports according to required regulations.

 

		·	Preparation of quarterly forecasts and yearly budgets, as
well as performing financial analysis and capital forecast.

 

		·	Coordination with independent auditors on quarterly
reviews and annual audits, including (i) supervision of Company staff to prepare financial results, schedules, and documents associated
with such audit or review, (ii) resolution of complicated accounting issues that may arise during the review or audit, and (iii)
ensuring that all financials are properly presented in accordance with U.S. GAAP, as applicable.

 

		·	Leading the listed Company for capital raise, including
coordination with investment banking firms, preparation of detailed projections and English business plan/presentation, and meeting
with and presenting to potential investors.

 

		·	Coordinating with the IR and PR firms and proactively
making and implementing IR management plan and regular IR presentation to investors, analysts and shareholders regarding financial
and operational matters of the Company.

 

		·	Working with CEO to prepare and implement business
development strategies, including future acquisition and opening of new stores.

 

		·	Assisting with CEO for preparation of grant allocation
plan for share options as compensation incentives for employees in the Company.

 

		·	Preparing and maintain internal control over financial
reporting and disclosures controls and procedures.

 

		·	Other service as the CFO is obliged to render to the
Company during the Employment Period.

 

    16

     

    

  

EXHIBIT A

 

RELEASE AND WAIVER OF CLAIMS

 

TO BE SIGNED ON OR FOLLOWING THE SEPARATION
DATE ONLY

 

In consideration of
the payments and other benefits set forth in the Employment Agreement effective as of ________________, to which this form is attached,
I, ___________, hereby furnish iFresh Inc. (the “Company”), with the following release and waiver (“Release
and Waiver”).

 

In exchange for the
consideration provided to me by the Employment Agreement that I am not otherwise entitled to receive, I hereby generally and completely
release the Company and its current and former directors, officers, employees, stockholders, partners, agents, attorneys, predecessors,
successors, parent and subsidiary entities, insurers, affiliates, and assigns (collectively, the “Released Parties”)
from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events,
acts, conduct, or omissions occurring prior to or on the date that I sign this Agreement (collectively, the “Released
Claims”). Except as provided below, the Released Claims include, but are not limited to: (a) all claims arising
out of or in any way related to my employment with the Company, or the termination of that employment; (b) all claims related
to my compensation or benefits from the Company including salary, bonuses, commissions, vacation pay, expense reimbursements, severance
pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (c) all claims for breach of
contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including
claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and
local statutory claims, including claims for discrimination, harassment, retaliation, misclassification, attorneys’ fees,
or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of
1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (the “ADEA”), the fair employment
practices statutes of the state or states in which I have provided services to the Company and/or any other federal, state or local
law, regulation or other requirement. Notwithstanding the foregoing, the following are not included in the Released Claims (the
“Excluded Claims”): (a) any rights or claims under the Agreement or any other written agreement
between the Company and me, including any stock option award agreement or plan, (b) any rights or claims that may arise as a result
of events occurring after the date this Release and Waiver is executed or which otherwise cannot lawfully be waived, (c) any indemnification
rights I may have as a former officer or director of the Company or its subsidiaries or affiliated companies, including any rights
or claims for indemnification I may have pursuant to any written indemnification agreement with the Company to which I am a party,
the charter, bylaws, or operating agreements of the Company, or under applicable law; (d) any claims for benefits under any directors’
and officers’ liability policy maintained by the Company or its subsidiaries or affiliated companies in accordance with the
terms of such policy, (e) any rights or claims under any employee benefit or compensation plan or program in which I participate
or participated (or was eligible to participate), (f) any rights or claims to unemployment compensation, and (g) reimbursement
for business expenses which are consistent with the Company’s reimbursement policy. I hereby represent and warrant that,
other than the Excluded Claims, I am not aware of any claims I have or might have against any of the Released Parties that are
not included in the Released Claims.

 

    17

     

    

  

I expressly waive and
relinquish any and all rights and benefits under any applicable law or statute providing, in substance, that a general release
does not extend to claims which a party does not know or suspect to exist in his or his favor at the time of executing the release,
which if known by him or his would have materially affected the terms of such release.

 

I acknowledge that,
among other rights, I am waiving and releasing any rights I may have under ADEA, that this Release and Waiver is knowing and voluntary,
and that the consideration given for this Release and Waiver is in addition to anything of value to which I was already entitled
as an executive of the Company. If I am 40 years of age or older upon execution of this Release and Waiver, I further acknowledge
that I have been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein
does not relate to claims under the ADEA which may arise after this Release and Waiver is executed; (b) I should consult with an
attorney prior to executing this Release and Waiver; and (c) I have twenty-one (21) days from the date of termination of my employment
with the Company in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver
earlier); (d) I have seven (7) days following the execution of this Release and Waiver to revoke my consent to this Release and
Waiver; and (e) this Release and Waiver shall not be effective until the seven (7) day revocation period has expired without my
having previously revoked this Release and Waiver.

 

I acknowledge my continuing
obligations under my Proprietary Information and Inventions Agreement. Pursuant to the Proprietary Information and Inventions Agreement
I understand that among other things, I must not use or disclose any confidential or proprietary information of the Company and
I must immediately return all Company property and documents (including all embodiments of proprietary information) and all copies
thereof in my possession or control. I understand and agree that my right to the severance pay I am receiving in exchange for my
agreement to the terms of this Release and Waiver is contingent upon my continued compliance with my Proprietary Information and
Inventions Agreement.

 

This Release and Waiver
constitutes the complete, final and exclusive embodiment of the entire agreement between the Company and me with regard to the
subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated herein. This
Release and Waiver may only be modified by a writing signed by both me and a duly authorized officer of the Company.

 

	Date:	 	 	By:	 

 

    18Exhibit

THE OFFER AND SALE OF THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE ACT, OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF SECTION 6 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
AMENDED AND RESTATED
WARRANT TO PURCHASE STOCK
On December 5, 2017, Domo, Inc., a Delaware corporation (the “Company”) issued ___________________ (“Holder”) a warrant to acquire certain shares of the Company’s equity securities, which warrant was amended as of April 17, 2018 (collectively, the “Original Warrant”).  The Company and Holder desire to amend and restate the Original Warrant in accordance with this Amended and Restated Warrant to Purchase Stock.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is acknowledged, the Company and Holder hereby agree:
The Original Warrant is hereby amended and restated by this Amended and Restated Warrant to Purchase Stock (“Warrant”), and the Company certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Holder is entitled to purchase that number of fully paid and non-assessable shares of Stock equal to the Warrant Number at a purchase price per share equal to the Exercise Price, subject to the provisions and upon the terms and conditions set forth in this Warrant. Capitalized terms used but not defined herein shall have the meaning provided in the Credit Agreement.
		
	SECTION 1.
	Exercise.

1.1.    Method of Exercise. Holder may exercise this Warrant at any time by delivering a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Section 1.2, Holder shall also deliver to the Company a check or wire transfer (to an account designated by the Company) for the aggregate Exercise Price for the Stock being purchased. 
1.2.    Net Issuance Right. In lieu of exercising this Warrant by check or wire transfer as specified in Section 1.1, Holder may from time to time convert this Warrant, in whole or in part, into a number of shares of Stock as is computed using the following formula: 
   X= Y*(A-B) 
                      A
where: 
	
			
	X =
	 
	the number of shares of Stock to be issued to the Holder pursuant to this Section 1.2.

	Y =
	 
	the number of shares of Stock covered by this Warrant in respect of which the net issue election is made pursuant to this Section 1.2.

	A =
	 
	the Fair Market Value (as determined pursuant to Section 1.3) of one share of Stock, as determined at the time the net issue election is made pursuant to this Section 1.2.

	B =
	 
	the Exercise Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 1.2.

1.3.    Fair Market Value. If, at the time of any exercise or conversion of this Warrant, the Company’s Class B Common Stock is traded in a public market and the Stock is Class B Common Stock, then the Fair Market Value of a share of Stock shall be the (i) the Trading Price of the Class B Common Stock on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 1.2 hereof on a day that is not a Trading Day or (2) both executed and delivered on a Trading Day prior to the closing of “regular trading hours” (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, or (ii) the Trading Price of the Class B Common Stock on the date of the applicable Notice of Exercise if the date of such Exercise Notice is a Trading Day and such Notice of Exercise is both executed and delivered after the close of “regular trading hours” on such Trading Day. If the Class B Common Stock is not traded in a public market or the Stock is not Class B Common Stock, then the Board of Directors of the Company shall determine the Fair Market Value of each share of Stock in its reasonable good faith judgment, provided however, that if the value of a share of Stock is to be determined in connection with an Acquisition, the fair market value shall be deemed to be the value ascribed to such Stock in the Acquisition assuming that the holders of such Stock receive the maximum consideration potentially available to the holders pursuant to such Acquisition (whether or not such consideration is actually received at closing of the Acquisition).
1.4.    Delivery of Certificate. Promptly, but in no event more than three (3) Business Days after Holder exercises or converts this Warrant and, if applicable, the Company receives payment of the aggregate Exercise Price with respect of the portion of the Stock underlying this Warrant that is being exercised, the Company shall deliver to Holder certificates or make appropriate book entries for the Stock acquired and/or other property to be delivered in connection with such exercise or conversion; provided, however, if the Company’s Class B Common Stock is then traded in a public market, the Company may provide electronic evidence from its transfer agent of such issuance in book entry.  If this Warrant has not been fully exercised or converted and has not expired, the Company shall also deliver a statement setting forth the number of shares of Stock that remain available for exercise under the Warrant. 
1.5.    Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 
		
	SECTION 2.
	Adjustments To The Stock and Exercise Price. 

2.1.    Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the outstanding shares of Stock payable in Class B Common Stock, other securities or other property, then upon exercise of this Warrant, for each share of Stock acquired, Holder shall receive, without cost to Holder, the total number and kind of securities or property to which Holder would have been entitled had Holder owned the Stock of record as of the date the dividend occurred. If the Company subdivides the outstanding shares of Stock by reclassification or otherwise into a greater number of shares, or if the outstanding shares of Stock are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, there will be no adjustment to the Warrant Number as it will adjust automatically based on the then current Exercise Price of the Stock.   
2.2.    Reclassification, Exchange, Combinations or Substitution. On any reclassification, exchange, substitution, or other event that results in a change to the Stock, Holder shall be entitled to receive, upon exercise or conversion of this Warrant, the number and kind of securities and property that Holder would have received for Stock if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. The Company or its successor shall promptly issue to Holder a certificate pursuant to Section 2.6 hereof setting forth the number, class and series or other designation of such new securities or other property issuable upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of securities issuable upon the exercise or conversion of this Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events.
2.3.    Reserved.
2.4.     No Impairment. The Company shall not, by amendment of the Charter or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Section 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Section against impairment. 
2.5.    Fractional Shares. No fractional shares of Stock shall be issuable upon exercise or conversion of the Warrant and the number of shares of Stock to be issued shall be rounded down to the nearest whole share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder in cash the amount computed by multiplying the fractional interest by the Fair Market Value of a full share of Stock as determined in accordance with Section 1.3. 
2.6.    Certificate as to Adjustments. Upon each adjustment of the Exercise Price, Stock and/or number of shares of Stock subject to this Warrant, the Company shall promptly notify Holder in writing, and, at the Company’s expense, promptly compute such adjustment, and furnish Holder with a certificate of a duly authorized officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Exercise Price, Stock and number of shares of Stock subject to this Warrant in effect upon the date thereof and the series of adjustments leading to such Exercise Price, Stock and number of shares of Stock.  
SECTION 3.REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. 
3.1.    Representations and Warranties. The Company represents, warrants and covenants to the Holder as follows: 
(a)    The Company is duly authorized to issue this Warrant and has obtained all necessary board and stockholder consents necessary in order for the proper issuance of this Warrant.
(b)    The issuance of this Warrant and the rights granted hereunder do not (i) conflict with or give rise to a breach of the Company’s Charter or any other agreement, judgment or other obligations binding on the Company, or (ii) violate any applicable laws, including without limitation, laws relating to the offer and sale of securities.
(c)    This Warrant has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
(d)    All shares of Stock which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable upon conversion of Stock, shall, when issued, sold and delivered in accordance with the terms and for the consideration set forth in this Warrant, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable securities laws. 
(e)    The Company has reserved and will keep available for issuance upon exercise of the Warrant the maximum number of shares of Stock that could possibly be issued on exercise of the Warrant from time to time outstanding, and any securities, if any, into which such shares are convertible.   
3.2.    Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon the outstanding shares of Stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend (other than securities for which adjustment is made pursuant to Section 2 hereof); (b) to offer for subscription or sale pro rata to all of the holders of the outstanding shares of Stock any additional shares of any other class or series of the Company’s stock (other than pursuant to contractual rights); (c) to effect any reclassification, reorganization or recapitalization of the shares of Stock; or (d) to effect an Acquisition or to liquidate, dissolve or wind up; then, in connection with each such event, the Company shall give Holder: (1) at least 10 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of shares of Stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; and (2) in the case of the matters referred to in (c) and (d) above at least 10 days prior written notice of the date when the same will take place (and specifying the date on which the holders of shares of Stock will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event). 
3.3.    Certain Information. Upon request of Holder at any time when the Company is either not current with its reporting requirements or subject to the reporting requirements under the Securities and Exchange Act of 1934, as amended, the Company shall promptly deliver to such Holder the information set forth in Appendix 3, provided however, that the rights set forth in this Section 3.3 shall not be transferable in connection with any transfer of this Warrant to a direct competitor of the Company.
		
	SECTION 4.
	REPRESENTATIONS, WARRANTIES OF THE HOLDER. 

4.1.    Representations and Warranties. The Holder represents and warrants to and covenants and agrees with the Company as follows: 
(a)    Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder will be acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that Holder has not been formed for the specific purpose of acquiring this Warrant or the shares of Stock.
(b)    Disclosure of Information. Holder is aware of the Company’s business affairs and financial condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access. 
(c)    Investment Experience. Holder understands that the acquisition of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons. 
(d)    Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated under the Act. 
(e)    The Act. Holder understands that the sale and issuance of this Warrant and the shares of Stock issuable upon exercise or conversion hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. Holder understands that this Warrant and the shares of Stock issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act.
(f)    Independent Tax Advice.  Holder has reviewed with its own tax advisors the U.S. federal, state and local and non-U.S. tax consequences of this investment and the transactions contemplated by this Warrant and the Credit Agreement. With respect to such tax consequences, Holder relies solely on any such advisors and not on any advice from the Company or any of its agents, written or oral. Holder understands that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment.
4.2.    No Stockholder Rights. Without limiting any provision in this Warrant, Holder agrees that it will not have any rights as a stockholder of the Company until the exercise of this Warrant. 
4.3.    No “Bad Actor” Disqualification. Neither (i) the Holder, (ii) any of its directors, executive officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing members, nor (iii) any beneficial owner of any of the Company’s voting equity securities (in accordance with Rule 506(d) of the Securities Act) held by the Holder is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii) under the Securities Act, except as set forth in Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed, reasonably in advance of the acceptance of this Warrant, in writing in reasonable detail to the Company.
		
	SECTION 5.
	DEFINITIONS.

5.1.    Defined Terms. The following capitalized terms shall have the meanings provided:
(a)    Acquisition means any transaction or series of related transactions involving any consolidation or merger of the Company or the issuance or transfer of the Company’s voting securities where either (A) the Company is not the surviving entity (other than a merger or consolidation effected exclusively to change the Company’s domicile or type of entity), or (B) the stockholders of the Company immediately prior to such transaction or series of related transactions do not hold at least 50% of the voting securities immediately after such transaction or series of related transactions.
(b)    Act means the Securities Act of 1933, as amended.
(c)    Charter means the Company’s certificate of incorporation as filed in its jurisdiction of organization, as may be amended or amended and restated from time to time.
(d)    Class B Common Stock means the Company’s Class B Common Stock, par value $0.001 per share, or such securities into which the Company’s Class B Common Stock are exchanged or converted.
(e)    Common Stock means any class of the Company’s equity securities designated in the Charter as common stock, such as Class A Common Stock or Class B Common Stock.
(f)    Credit Agreement means that certain Loan and Security Agreement by and between Holder, Company and the other parties thereto dated as of the Issuance Date, as such agreement may be amended, restated, supplemented, amended and restated or otherwise modified from time to time.
(g)    Exercise Price means, as of the date this Warrant is exercised or converted, $17.8736, adjusted for stock splits and combinations. 
(h)    Expiration Date means June 28, 2021. 
(i)    Holder shall have the meaning provided in the first paragraph of this Warrant, as may be modified by Section 6.4 of this Warrant.
(j)    Holder Entities shall have the meaning provided in Section 6.13 of this Warrant.
(k)    Issuance Date means December 5, 2017. 
(l)    Principal Market means the primary U.S. national securities exchange on which the Class B Common Stock is then listed, or, if the Class B Common Stock is not then listed on such an exchange, on the primary other market (if any) on which the Class B Common Stock is then traded.
(m)    Stock means Class B Common Stock.  
(n)    Subsidiary shall have the meaning provided in the Credit Agreement.
(o)    Trading Day means any day on which the Class B Common Stock is traded on the Principal Market, provided that “Trading Day” shall not include any day on which the Class B Common Stock is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Class B Common Stock is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time) unless such day is otherwise designated as a Trading Day in writing by the Holder and the agreed to by the Company.
(p)    Trading Price means, for any security as of any date, (1) VWAP, (2) if VWAP is not available, the last closing trade price for such security on the Principal Market, as reported by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing trade price, then the last trade price of such security prior to 4:00:00 p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading market for such security, the last trade price of such security on the principal securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or (3) if the foregoing do not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg, or (4) if no last trade price is reported for such security by Bloomberg, the average of the ask prices of any market makers for such security as reported in the “pink sheets” by Pink Sheets LLC.  If the Trading Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Trading Price of such security on such date shall be the fair market value as determined by the Board of Directors of the Company in good faith on a commercially reasonable manner.  All such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period.
(q)    VWAP means, for any security as of any date, the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on the applicable Bloomberg page for the Company’s Class B Common Stock, as determined by the Company in a good faith and commercially reasonable manner, in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such trading day (or if such volume-weighted average price is unavailable, the market value of one share of the Company’s Class B Common Stock on such trading day reasonably determined, using a volume-weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company).  The “VWAP” will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.
(r)    Warrant shall have the meaning provided in the first paragraph of this agreement.  
(s)    Warrant Number means ________, adjusted for stock splits and combinations.

 
		
	SECTION 6.
	MISCELLANEOUS. 

6.1.    Term. This Warrant is exercisable, in whole or in part, as to that number of shares of Stock equal to the Warrant Number at any time and from time to time on or before midnight Pacific time on the Expiration Date. 
6.2.    Legends. The shares of Stock (and the securities issuable, directly or indirectly, upon conversion of Stock, if any) shall be imprinted with a legend in substantially the following form: 
THE SALE AND ISSUANCE OF SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE ACT, OR THE SECURITIES LAWS OF ANY STATE AND, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.  NO OPINION OF COUNSEL SHALL BE REQUIRED IF THE TRANSFER IS TO AN AFFILIATE OF HOLDER, PROVIDED THAT ANY SUCH TRANSFEREE IS AN “ACCREDITED INVESTOR” AS DEFINED IN REGULATION D PROMULGATED UNDER THE ACT.
6.3.    Compliance with Securities Laws on Transfer. This Warrant and the shares of Stock issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of Stock, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of a legal opinion reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is an Affiliate of Holder, provided that any such transferee is an “accredited investor” as defined in Regulation D promulgated under the Act.  Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act or another exemption under applicable securities laws.
6.4.    Transfer Procedure. Subject to the provisions of Section 6.3 and upon providing the Company with written notice in substantially the form as provided in Appendix 2, hereto and countersigned by the proposed transferee, Holder and any subsequent Holder may transfer all or part of this Warrant or the shares of Stock issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of Stock, if any) to any transferee so long as such transferee agrees to be bound by the terms and conditions of this Warrant, provided, however, in connection with any such transfer, any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number, if any, of the transferee and Holder will surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable). 
6.5.    Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 
6.6.    Attorney’s Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 
6.7.    Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the Fair Market Value of one share of Stock (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Exercise Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be converted pursuant to Section 1.2 above as to all shares of Stock (or such other securities) for which it shall not previously have been exercised or converted that may be acquired hereunder, and the Company shall promptly deliver a certificate representing the shares of Stock (or such other securities) issued upon such conversion to Holder. 
6.8.    Counterparts. This Warrant may be executed in counterparts and by facsimile (e.g., PDF), all of which together shall constitute one and the same agreement. 
6.9.    Choice Of Law, Venue. Jury Trial Waiver. 
(a)      Governing Law.  Delaware law governs this Warrant without regard to principles of conflicts of law. The Company and Holder each submit to the exclusive jurisdiction of the State and Federal courts in Los Angeles County, California; provided, however, that nothing in this Agreement shall be deemed to operate to preclude Holder from bringing suit or taking other legal action in any other jurisdiction in connection with the Credit Agreement. The Company expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and the Company hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court. The Company hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or certified mail addressed to the Company at the address set forth in, or subsequently provided by the Company in accordance with, Section 6.14 of this Warrant and that service so made shall be deemed completed upon the earlier to occur of the Company’s actual receipt thereof or three (3) Business Days after deposit in the U.S. mails, proper postage prepaid.
(b)     Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE COMPANY AND HOLDER EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS WARRANT OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
(c)     Judicial Reference.  WITHOUT INTENDING IN ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them arising at any time shall be decided by a reference to a private judge, mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of Los Angeles County, California Superior Court) appointed in accordance with California Code of Civil Procedure Section 638 (or pursuant to comparable provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in Los Angeles County, California; and the parties hereby submit to the jurisdiction of such court. The reference proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall have the power, among others, to grant provisional relief, including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records relating thereto shall be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the Los Angeles County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders applicable to judicial proceedings in the same manner as a trial court judge.
(d)     Scope of Authority. The parties agree that the selected or appointed private judge shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall report a statement of decision thereon pursuant to California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph.
6.10.    Time of Essence.  Time is of the essence for the performance of all obligations in this Warrant.
6.11.    Severability of Provisions.  Each provision of this Warrant is severable from every other provision in determining the enforceability of any provision.
6.12.    Amendments in Writing; Waiver; Integration.  No purported amendment or modification of this Warrant, or waiver, discharge or termination of any obligation under this Warrant, shall be enforceable or admissible unless, and only to the extent, expressly set forth in a writing signed by the party against which enforcement or admission is sought.  Without limiting the generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance or course of conduct shall operate as, or evidence, an amendment, supplement or waiver or have any other effect on this Warrant.  Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any subsequent or other circumstance, whether similar or dissimilar, or give rise to, or evidence, any obligation or commitment to grant any further waiver.  This Warrant represents the entire agreement about this subject matter and supersedes prior negotiations or agreements, including any commitment letter or term sheet and modifications thereto, whether or not formally signed. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Warrant merge into this Warrant.
6.13.    Confidentiality.  In handling any confidential information provided pursuant to this Warrant, Holder shall exercise the same degree of care that it exercises for its own proprietary information, and shall not use such information other than to monitor or value such its investment in the Company or disclose such information, provided that disclosure of such information may be made: (a) to Holder’s Subsidiaries or Affiliates (such Subsidiaries and Affiliates, together with Holder, collectively, “Holder Entities”); (b) to prospective transferees or purchasers of any interest in the Warrant or Credit Extensions (provided, however, that any prospective transferee or purchaser shall have entered into an agreement containing provisions substantially the same as those in this Section 6.13); (c) as required by law, regulation, subpoena, or other order; (d) to Holder Entities’ regulators or as otherwise required in connection with Holder Entities’ examination or audit; (e) as Holder considers appropriate in exercising remedies under this Warrant; and (f) to Holder Entities’ third-party service providers so long as such service providers have executed a confidentiality agreement with one or more of the Holder Entities with terms no less restrictive than those contained herein.  Confidential information does not include information that is either: (i) in the public domain or in any Holder Entity’s possession when disclosed to Holder, or becomes part of the public domain after disclosure to Holder (in each case, through no fault of any of the Holder Entities); or (ii) disclosed to any Holder Entity by a third party if such Holder Entity does not know that the third party is prohibited from disclosing the information.
6.14.    Notices.  Notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail, sent by fax or email, as follows:
if to the Company, to it at 772 East Utah Valley Drive, American Fork, UT 84003, Attention: Dan Stevenson, General Counsel (email: Dan.Stevenson@domo.com), with a copy (which shall not constitute notice) to Wilson, Sonsini Goodrich & Rosati, 701 Fifth Avenue, Suite 5100, Seattle, WA 98104, Attention: Patrick J. Schultheis (email: pschultheis@wsgr.com);
if to Holder, to it at  2951 28th Street, Suite 1000, Santa Monica, CA 90405, Attention:  John Doyle (email: john.doyle@tennenbaumcapital.com, with a copy to asher.finci@tennenbaumcapital.com);
All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt if delivered by hand or overnight courier service or sent by fax or email, or on the date 5 Business Days after dispatch by certified or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to such party as provided in this Section 6.14 or in accordance with the latest unrevoked direction from such party given in accordance with this Section 6.14.  
6.15.    No Third Party Beneficiaries.  No Person other than a party to this Warrant shall have any rights under this Warrant.
6.16.    Electronic Execution of Documents.  The words “execution,” “signed,” “signature” and words of like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity and enforceability as a manually executed signature or the use of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act.
6.17.         Captions.  The headings used in this Agreement are for convenience only and shall not affect the interpretation of this Agreement.
6.18.         Construction of Agreement.  The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement.  In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist.

[Remainder of page left blank intentionally]

IN WITNESS WHEREOF, the parties have caused this Warrant to be executed and delivered as of the Issuance Date.
 
 “COMPANY”

	
			
	Domo, Inc.

_______________________________
 
Name: 
 
Title: 

	 
	 

 
“HOLDER”

______________________________________

By Tennenbaum Capital Partners, LLC
its Investment Manager
 
By: ________________________________
Name: _____________________________
Title: _______________________________
Address:
c/o Tennenbaum Capital Partners, LLC 
2951 28th Street, Suite 1000
Santa Monica, CA 90405,
Attention:  John Doyle and Asher Finci

APPENDIX 1
NOTICE OF EXERCISE
1. Holder elects to exercise the Warrant to Purchase Stock dated ________________ and initially issued to _______________ (the “Warrant”) to purchase   ________ shares of Class B Common Stock of Domo, Inc. pursuant to Section 1.1 of the Warrant, and tenders payment of the purchase price of the shares in full.   The undersigned represents and warrants that the aforesaid shares of capital stock are being acquired in compliance with applicable federal and state securities law. 
[or] 
1. Holder elects to exercise the Warrant dated ________________ and initially issued to _______________ (the “Warrant”), to purchase ______________ Class B Common Stock of Domo, Inc. pursuant to Section 1.2 of the Warrant, and tenders _______ shares of Stock available under the Warrant as payment in full. 
[Strike paragraph that does not apply.] 
2. Capitalized terms used but not defined herein shall have the meaning provided in the Warrant.
3.    Please issue a certificate or certificates representing the shares of Stock in the name specified below:  
	
	
	 

	 

	Holders Name

	 

	 

	 

	 

	(Address)

	
			
	 
	 
	 

	HOLDER:

	 

	 

	 
	 

	By:
	 
	 

	 
	 

	Name:
	 
	 

	 
	 

	Title:
	 
	 

	 
	 

	(Date):
	 
	 

Appendix 2
NOTICE OF TRANSFER
 (To be signed only upon transfer of Warrant)
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto _______________________________________________ the right represented by the attached Warrant to purchase Stock of _________________ (the “Company”) to which the attached Warrant relates, and appoints __________________________ as attorney in fact to transfer such right on the books of the Company, with full power of substitution in the premises.

Dated: ____________________
                        
(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)
Address:                        
                        
                        
Acknowledgement and Acceptance:
The undersigned transferee of the Warrant hereby accepts the transfer of the Warrant and agrees to be bound by the Warrant as if it were the original Holder thereof.

[insert name of transferee]

________________________________ 
Name: 
Title: 
Tax Payer Identification Number:  
Address:

APPENDIX 3

INFORMATION RIGHTS
The Company will furnish electronically to Holder:
As soon as practicable after the end of each fiscal year of the Company, and in any event within one hundred twenty (120) days after the end of each fiscal year of the Company, a consolidated balance sheet of the Company and its subsidiaries as of the end of such fiscal year, and consolidated statements of income and cash flows of the Company and its subsidiaries for such fiscal year, each prepared in accordance with U.S. generally accepted accounting principles consistently applied and certified by independent public accountants of nationally recognized standing selected by the Company.
As soon as practicable after the end of each of the first, second, third and fourth quarterly accounting periods in each fiscal year of the Company, and in any event within forty-five (45) days after the end of each of the first, second, third and fourth quarterly accounting periods in each fiscal year of the Company, an unaudited consolidated balance sheet of the Company and its subsidiaries, as of the end of each such quarterly period, and unaudited consolidated statements of income and cash flows of the Company and its subsidiaries, for such period, prepared in accordance with U.S. generally accepted accounting principles consistently applied, subject to changes resulting from normal year-end audit adjustments.

Warrant – Domo
____________________________________
1

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