Document:

Exhibit

EXECUTIVE EMPLOYMENT AGREEMENT
This Executive Employment Agreement (“Agreement”) is made and entered into, by and between Shiloh Industries, Inc., a Delaware corporation (the “Company”), and Lillian Etzkorn (“Executive”) (collectively, the “Parties” and each, a “Party”) on the date executed by the Parties.
WHEREAS, the Company desires to employ Executive and Executive wishes to be employed by the Company on the terms and conditions set forth in this Agreement.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:
		
	1.
	Effectiveness

1.1Effectiveness.  This Agreement is effective as of the date executed by the Parties; provided, however, that this Agreement is contingent upon Executive: (a) signing acknowledgements to the Company’s standard form of Conflict of Interest Policy Statement and the Company’s Insider Trading Policy and Guidelines with Respect to Certain Transactions in Company Securities of Shiloh Industries, Inc.; (b) entering into the Company’s standard form of Intellectual Property Agreement, as amended (the “IP Agreement”); (c) completing, to the Company’s satisfaction, a baseline physical exam, including a drug screen and a background check of credentials and prior employment; (d) providing the Company with proper documentation to establish Executive’s identity and eligibility for employment as required under the U.S. Immigration and Naturalization Service, and (e) resigning from her current employment as soon as reasonably practical (collectively, the “New Hire Prerequisites”). If Executive does not complete any of the New Hire Prerequisites as soon as reasonably practical following the date of this Agreement and prior to beginning employment, this Agreement will not become effective and all of the terms and provisions of this Agreement shall be null and void.

		
	2.
	Employment

2.1Term.  The Company hereby agrees to employ Executive as Senior Vice President and Chief Financial Officer of the Company, on the terms set forth herein, for the period commencing as soon as possible following the date of this Agreement and ending pursuant to Section 5 hereof. Executive is an at-will employee of the Company.   

2.2Position and Duties.  Upon the start of Executive’s employment, Executive shall serve in the capacity of Senior Vice President and Chief Financial Officer of the Company and shall report directly to the President and Chief Executive Officer of the Company (the “CEO”).  During employment with the Company, Executive agrees to devote Executive’s full business time, ability, knowledge and attention solely to the business affairs and interests of the Company.  Executive agrees to perform such services and assume such duties and responsibilities as are assigned to the best of Executive’s abilities, skills and efforts and will abide by applicable Company policies and directives as they exist from time to time to the extent not in conflict with applicable law.

2.3Work Location.  During Executive’s employment, Executive’s principal place of employment shall be at the Company’s facility in Plymouth, Michigan; provided, however, Executive will be expected to spend significant time at the Company’s corporate headquarters in Valley City, Ohio and the Company may, in its discretion, change Executive’s principal place of employment within the Detroit, Michigan metropolitan area.  The Company may direct Executive to engage in such other reasonable travel as the performance of Executive’s duties may require or the Company may reasonably request.

		
	3.
	Compensation

3.1Annual Base Salary.  In consideration of Executive’s ongoing services to the Company, the Company will pay Executive a gross base salary at the rate of $410,000 per year (“Base Salary”), which Base Salary shall be reviewed for adjustment at such time or times as the Company determines in its sole discretion.  Executive’s Base Salary will be paid in accordance with the Company’s standard payroll schedule. 

3.2Annual Bonus Compensation.  For each fiscal year of the Company or portion of a fiscal year during Executive’s employment, and prorated for the portion of any fiscal year during which Executive worked for the Company, Executive shall be eligible for an “Annual Bonus” pursuant to the terms of the Company’s Management Incentive Plan, as most recently approved by the Company’s stockholders on March 12, 2014, and as may be thereafter amended from time to time (the “MIP”), with a target Annual Bonus opportunity equal to 50% of Base Salary. Payment of the Annual Bonus, if any, will be based on the attainment of one or more pre-established Company and individual performance goals established by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) pursuant to the terms of the MIP.

3.3Annual Long-Term Incentive Compensation.  Beginning with the Company’s fiscal year 2019, Executive shall be eligible to participate in the Company’s long-term incentive compensation programs (subject to the approval of such programs and participation by the Compensation Committee) (collectively, the “Equity Plan”).  Executive’s annual target opportunity while eligible under the Equity Plan during Executive’s employment shall be not less than 50% of Base Salary, subject to the terms and conditions of the Equity Plan and any other terms set forth in the applicable award agreement(s).  The conversion of such target opportunity into a number of equity awards shall be conducted in a manner consistent with the methodology approved by the Compensation Committee from time to time for use with other senior executive officers of the Company.

3.4Sign-On Equity Grant.  Contingent upon Executive completing the New Hire Prerequisites and beginning employment with the Company and subject to approval by the Compensation Committee, Executive shall be granted an award with an aggregate value of $250,000 of restricted common stock of the Company (the “Sign-On Restricted Shares”) under the Shiloh Industries, Inc.’s 2016 Equity and Incentive Compensation Plan (the “2016 Equity Plan”) as soon as practicable after the Compensation Committee’s approval. The Sign-On Restricted Shares shall be subject to the terms and conditions of the 2016 Equity Plan and the equity award agreement evidencing the Sign-On Restricted Shares and shall vest in installments on each of the first three anniversaries of the date of grant (i.e., 20% on the first anniversary, 30% on the second anniversary and 50% on the third anniversary), generally subject to Executive’s continued employment with the Company through each such vesting date and the other terms set forth in the applicable equity award agreement and the 2016 Equity Plan.

3.5Sign-On Cash Bonus.

(a)Contingent upon Executive completing the New Hire Prerequisites and beginning employment with the Company, within 30 days of Executive’s first day of work with the Company, the Company shall pay Executive a sign-on cash bonus equal to $80,000 (“Sign-On Cash Bonus”). 
 
(b)Notwithstanding the foregoing, if Executive’s employment with the Company ends prior to the third anniversary of her beginning employment with the Company other than as a result of Executive’s death (i) if Executive does not receive a Severance Payment (as defined below) as a result of such termination, Executive shall repay to the Company an amount equal to the Sign-On 

Cash Bonus, and (ii) if Executive receives a Severance Payment as a result of such termination, Executive shall repay to the Company an amount equal to (A) the Sign-On Cash Bonus minus (B) the product of (x) the Sign-On Cash Bonus, multiplied by (y) a fraction, the numerator of which is the number of whole months of employment completed by Executive prior to the date of termination, and the denominator of which is 36 (the “Repayment Amount”).  In the event Executive is eligible for the Severance Payment as a result of her termination of employment, then each installment of the Severance Payment shall be reduced (in an amount up to the full amount of such installment) until the aggregate amount of such reductions is equal to the Repayment Amount; provided, that, to the extent the Severance Payment is subject to Section 409A (as defined below), the Severance Payment will only be so reduced to the extent it would not result in non-compliance with Section 409A.

		
	4.
	Benefits and Reimbursements

4.1Standard Benefits Package.  During Executive’s employment, Executive will be eligible to participate in all employee benefit plans which the Company makes available to senior executive officers (including the Company’s qualified retirement plan), in a manner no less favorable than other senior executive officers of the Company, according to the terms of the plans and policies as they exist from time to time.

4.2Vacation and Holidays.  Beginning with the 2018 calendar year, Executive shall be entitled to twenty days of vacation per calendar year in accordance with the Company’s vacation policy and applicable Company paid holidays pursuant to the terms of the applicable Company policies. For the 2018 calendar year, Executive’s vacation will be prorated based on Executive’s date of hire.

4.3Automobile Allowance.  During Executive’s employment, the Company will pay to Executive an automobile allowance equal to $700 per month.

4.4Cell Phone Reimbursement.  During Executive’s employment, the Company will reimburse Executive up to $100 each month for expenses related to the use of a cellular phone, provided that such expenses are substantiated as described in Section 4.5.  All such reimbursements will be made in compliance with Section 7.10 hereof.

4.5Expenses.  The Company will reimburse Executive for all reasonable and necessary out-of-pocket business, entertainment, and travel expenses incurred by Executive in the performance of Executive’s duties hereunder, provided that Executive submits such documentation as may be reasonably necessary to substantiate that all such expenses were incurred in the performance of her duties and are consistent with and subject to the policies of the Company in effect from time to time as to the kind and amount of such expenses.  All reimbursements will be made in compliance with Section 7.10 hereof.
  
4.6Indemnification and Insurance.  Executive will be entitled to such indemnification, defense of claims and insurance against liability as are generally provided to similarly situated employees of the Company, consistent with Company bylaws, insurance policies and contracts, and applicable law. 

		
	5.
	Termination

5.1Termination in General.  Executive is an at-will employee of the Company.  Executive’s employment hereunder may be terminated by either Party at any time and for any reason; provided that Executive will be required to give the Company at least 90 days’ advance written notice of any resignation of Executive’s employment without Good Reason (as defined below).  If Executive’s employment is terminated for any reason, subject to Section 7.10, the Company will pay Executive:

		
	(a)
	the unpaid portion of Executive’s then-current Base Salary accrued through the date of termination of Executive’s employment, within 30 days of Executive’s termination of employment;

		
	(b)
	unpaid reimbursements of expenses that are reimbursable pursuant to Sections 4.4 and 4.5 but have not been reimbursed by the Company as of the termination of Executive’s employment, within 30 days of Executive’s termination of employment;

		
	(c)
	to the extent provided by the Company’s vacation policy or to the extent required by applicable law, payment for accrued but unused days of vacation, within 30 days of Executive’s termination of employment; and

		
	(d)
	such employee benefits, if any, as to which Executive may be entitled pursuant to the terms of the employee benefit and compensation plans of the Company (the payments described in clauses (a) through (d) hereof being referred to as the “Accrued Rights”).

5.2Termination By Company Without Cause or By Executive for Good Reason.  If Executive’s employment is terminated by the Company without Cause or by Executive for Good Reason, subject to Sections 5.5 and 7.10, in addition to the Accrued Rights, the Company will pay Executive (i) a severance payment in an amount equal to one times Executive’s then-current Base Salary, payable in equal installments in accordance with the Company’s normal payroll practices during the 12 months immediately following the date of termination of Executive’s employment, and (ii) any earned but unpaid Annual Bonus for the fiscal year immediately preceding the fiscal year of the termination of Executive’s employment, subject to certification of the Company’s financial results by the Compensation Committee, payable when bonuses under the annual incentive plan for such fiscal year are paid to other executives of the Company but in all events, and to the extent it does not violate Section 409A of the Internal Revenue Code, no later than the 15th day of the third month following the end of the fiscal year in which such Annual Bonus was earned by Executive (collectively, the “Severance Payment”).
  
5.3Certain Definitions.  
		
	(a)
	For purposes of this Agreement, “Cause” shall mean:  (i) being charged with or indicted for, or a plea of guilty or nolo contendere to a felony or a crime involving dishonesty, fraud, or moral turpitude; (ii) conduct by Executive that brings the Company or any subsidiary or affiliate of the Company into public disgrace or disrepute, (iii) gross negligence or misconduct by Executive with respect to the Company or any subsidiary or affiliate of the Company, (iv) Executive’s insubordination or failure to follow the lawful directions of the CEO, which is not cured within three days after written notice thereof to Executive, (v) Executive’s violation of Section 6 of this Agreement or the provisions of the IP Agreement, (vi) Executive’s breach of a material employment policy of the Company, which is not cured within 10 days after written notice thereof to Executive, or (vii) any other breach by Executive of this Agreement or any other written agreement with the Company or any subsidiary or affiliate which is material and which is not cured within 30 days after written notice thereof to Executive. The existence of Cause shall be determined in good faith by the Company. 

		
	(b)
	For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following without Executive’s consent:  (i) a material adverse change in Executive’s title, duties or responsibilities; (ii) a material reduction in Executive’s Base Salary other than an across-the-board reduction that affects other executives similarly situated to Executive; and (iii) any relocation of Executive’s principal office by more than 75 miles from the Company’s Plymouth, Michigan location (this does not apply to customary business travel throughout the U.S. and abroad associated with Executive’s 

role). The Company and Executive agree that “Good Reason” shall not exist unless and until Executive provides the Company with written notice of the acts alleged to constitute Good Reason within 30 days of Executive’s knowledge of the occurrence of such event, and the Company fails to cure such acts within 30 days of receipt of such notice. Executive must terminate her employment within 30 days following the expiration of such cure period for the termination to be on account of “Good Reason.”

5.4Effect of Termination.  Upon termination of Executive’s employment, all compensation, benefits and reimbursements described in Sections 3 and 4 above terminate upon the termination date, and no further compensation, benefits, reimbursements or other payments will be due to Executive, other than as provided in this Section 5 and subject to the terms and conditions of Section 5.  In the event that the Company implements or maintains any other severance pay policy or practice, Executive shall not be entitled to pay under such policy or practice. 

5.5Waiver and Release.  Notwithstanding any provision herein to the contrary, the Company will have no obligation to make the Severance Payment, unless, (a) within 30 days following the date of termination of Executive’s employment, Executive executes and delivers to the Company a waiver and release of all current or future claims, known or unknown, arising on or before the date of the release against the Company, its subsidiaries, and the directors, officers, employees and affiliates of any of them, in a form approved by the Company (the “Release”) and (b) any applicable revocation period has expired during such 30-day period without Executive revoking such Release.  Subject to Section 7.10, the Severance Payment shall not commence earlier than the first payroll date after the Release is executed and delivered to the Company, and all revocation periods have expired unexercised and the first payment on or after such date will include any portion of the Severance Payment not previously paid because Executive has not executed the Release; provided, that if such 30-day period begins in one taxable year and ends in a second taxable year, the portion of the Severance Payment that would have otherwise been paid or provided in the first taxable year shall be withheld and paid to Executive (without interest) on the Company’s first payroll date in the second taxable year, with the remaining portion of such payments to be provided to Executive according to the applicable schedule set forth herein, as if no such delay had occurred.

5.6Board/Committee Resignation.  Upon termination of Executive’s employment for any reason, if applicable, Executive shall (if applicable) (a) automatically cease to serve on the Board of Directors of the Company (and any committees thereof) and the board of directors (and any committees thereof) of any subsidiary or controlled affiliate of the Company and (b) resign from all positions that Executive holds as an officer of the Company and its subsidiaries and controlled affiliates, and in each case does hereby resign from all such positions effective on such termination date.  In addition, upon request of the Company, Executive will promptly take all other actions, and will sign such other documents, as may be necessary to effectuate the intent of this paragraph. 

5.7 Cooperation. The Parties agree that certain matters in which the Executive will be involved during her employment may necessitate the Executive's cooperation in the future. Accordingly, following the termination of Executive's employment for any reason, to the extent reasonably requested by the Company’s Board of Directors and/or Chief Executive Officer, the Executive shall cooperate with the Company in connection with matters arising out of the Executive's service to the Company; provided that, the Company shall make reasonable efforts to minimize disruption of the Executive's other activities. The Company shall reimburse the Executive for reasonable expenses incurred in connection with such cooperation.

		
	6.
	Competitive Activity; Confidentiality; Non-Solicitation.

6.1Acknowledgements and Agreements.  Executive hereby acknowledges and agrees that in the performance of Executive’s duties to the Company during her employment, Executive will be brought into frequent contact with existing and potential customers of the Company throughout the world.  Executive also agrees that trade secrets and confidential information of the Company, more fully described in Section 6.5(a), gained by Executive during Executive’s association with the Company, have been developed by the Company through substantial expenditures of time, effort and money and constitute valuable and unique property of the Company.  Executive further understands and agrees that the foregoing makes it necessary for the protection of the Company’s Business that Executive not compete with the Company during Executive’s employment with the Company and not compete with the Company for a reasonable period thereafter, as further provided in the following subparagraphs.

6.2Covenants.

		
	(a)
	Covenants During Employment.  While employed by the Company, Executive will not compete with the Company anywhere in the world.  In accordance with this restriction, but without limiting its terms, while employed by the Company, Executive will not:

(i)enter into or engage in, or make preparations to enter into or engage in, any business which competes with the Company's Business;

(ii)solicit customers, business, patronage or orders for, or sell, any products or services in competition with, or for any business that competes with, the Company's Business;

(iii)divert, entice or otherwise take away any customers, business, patronage or orders of the Company or attempt to do so; or

(iv)promote or assist, financially or otherwise, any person, firm, association, partnership, corporation or other entity engaged in any business which competes with the Company's Business.

		
	(b)
	Covenants Following Termination.  For a period of one year following the termination of Executive’s employment, Executive will not:

(i)enter into or engage in any business which competes with the Company's Business within the Restricted Territory; 

(ii)solicit customers, business, patronage or orders for, or sell, any products and services in competition with, or for any business, wherever located, that competes with, the Company's Business within the Restricted Territory;

(iii)divert, entice or otherwise take away any customers, business, patronage or orders of the Company within the Restricted Territory, or attempt to do so; or

(iv)promote or assist, financially or otherwise, any person, firm, association, partnership, corporation or other entity engaged in any business which competes with the Company's Business within the Restricted Territory.

		
	(c)
	Indirect Competition.  For the purposes of Sections 6.2(a) and 6.2(b) inclusive, but without limitation thereof, Executive will be in violation thereof if Executive engages in any or all of the activities set forth therein directly as an individual on Executive’s own account, or indirectly as a partner, joint venturer, employee, agent, salesperson, consultant, officer and/or director of any firm, association, partnership, corporation or other entity, or as a stockholder of any corporation in which Executive or Executive’s spouse, child or parent owns, directly or indirectly, individually or in the aggregate, more than 1% of the outstanding stock.

		
	(d)
	If it shall be judicially determined that Executive has violated this Section 6.2, then the period applicable to each obligation that Executive shall have been determined to have violated shall automatically be extended by a period of time equal in length to the period during which such violation(s) occurred.

6.3The Company.  For purposes of this Section 6, the Company shall include any and all direct and indirect subsidiary, parent, affiliated, or related companies of the Company for which Executive worked or had responsibility at the termination of Executive’s employment and at any time during the two-year period prior to such termination.

6.4Non-Solicitation.  For a period of two years following the date of termination of Executive’s employment, Executive will not directly or indirectly at any time during the period of Executive’s employment or thereafter hire or attempt to hire any of the Company’s employees or solicit any of them to resign from their employment by the Company, or disrupt the relationship between the Company and any of its consultants, agents or representatives.  Executive acknowledges that this covenant is necessary to enable the Company to maintain a stable workforce and remain in business.

6.5Further Covenants.  
		
	(a)
	Executive will keep in strict confidence, and will not, directly or indirectly, at any time, during or after Executive’s employment with the Company, disclose, furnish, disseminate, make available or, except in the course of performing Executive’s duties of employment, use any trade secrets or confidential business and technical information of the Company or its customers or vendors, without limitation as to when or how Executive may have acquired such information.  Such confidential information shall include, without limitation, the Company’s unique selling, manufacturing and servicing methods and business techniques, training, service and business manuals, promotional materials, training courses and other training and instructional materials, vendor and product information, customer and prospective customer lists, other customer and prospective customer information and other business information.  Executive specifically acknowledges that all such confidential information, whether reduced to writing, maintained on any form of electronic media, or maintained in the mind or memory of Executive and whether compiled by the Company, and/or Executive, derives independent economic value from not being readily known to or ascertainable by proper means by others who can obtain economic value from its disclosure or use, that reasonable efforts have been made by the Company to maintain the secrecy of such information, that such information is the sole property of the Company and that any retention and use of such information by Executive during Executive’s employment with the Company (except in the course of performing Executive’s duties and obligations to the Company) or after the termination of 

Executive’s employment shall constitute a misappropriation of the Company’s trade secrets.

		
	(b)
	Executive agrees that upon termination of Executive’s employment with the Company, for any reason, Executive shall return to the Company, in good condition, all property of the Company, including without limitation, the originals and all copies of any materials which contain, reflect, summarize, describe, analyze or refer or relate to any items of information listed in Section 6.5(a) of this Agreement.  In the event that such items are not so returned, the Company will have the right to charge Executive for all reasonable damages, costs, attorneys’ fees and other expenses incurred in searching for, taking, removing and/or recovering such property.

6.6Communication of Contents of Agreement.  While employed by the Company and for one year thereafter, Executive will communicate the contents of Section 6 of this Agreement to any person, firm, association, partnership, corporation or other entity that Executive intends to be employed by, be associated with, or represent.

6.7Confidentiality Agreements.  Executive agrees that Executive shall not disclose to the Company or induce the Company to use any secret or confidential information belonging to Executive's former employers.  Executive hereby represents and warrants to the Company that the execution of this Agreement by Executive and Executive’s employment by the Company and the performance of Executive’s duties hereunder will not violate or be a breach of any agreement with or obligation to a former employer, client or any other person or entity, and Executive agrees to indemnify the Company for any costs and expenses arising out of a claim by any such third party has against the Company based upon or arising out of any non-competition agreement or other restrictive covenant, invention or confidentiality agreement between Executive and such third party which was in existence as of the date of this Agreement or thereafter and which Executive is alleged to be in violation of.

6.8Relief.  Executive acknowledges and agrees that the remedy at law available to the Company for breach of any of Executive's obligations under this Agreement would be inadequate.  Executive therefore agrees that, in addition to any other rights or remedies that the Company may have at law or in equity, temporary and permanent injunctive relief may be granted in any proceeding which may be brought to enforce any provision contained in Sections 6.2, 6.4, 6.5, 6.6, and 6.7 inclusive, of this Agreement, without the necessity of proof of actual damage.

6.9Reasonableness.  Executive acknowledges that Executive's obligations under this Section 6 are reasonable in the context of the nature of the Company's Business and the competitive injuries likely to be sustained by the Company if Executive were to violate such obligations.  Executive further acknowledges that this Agreement is made in consideration of, and is adequately supported by the agreement of the Company to perform its obligations under this Agreement and by other consideration, which Executive acknowledges constitutes good, valuable and sufficient consideration.

6.10Certain Definitions.

		
	(a)
	“Company’s Business” means the business of designing, engineering, manufacturing, marketing or selling lightweighting, noise and vibration solutions for automotive, commercial vehicle and other industrial markets or any other product, material or process sold or produced by the Company during the course of Executive’s employment with the Company, including any product, material or process which may 

be under development by the Company during the course of Executive’s employment with the Company and of which Executive gains knowledge.

		
	(b)
	“Restricted Territory” means: (i) North America (including any territory of the United States); and (ii) all of the specific customer accounts, whether within or outside of the geographic area described in (i) above, with which Executive had any contact or for which Executive had any responsibility (either direct or supervisory) at the termination of Executive’s employment and at any time during the two-year period prior to such termination.

6.11Permitted Disclosures.
		
	(a)
	Notwithstanding the foregoing, nothing in this Agreement prevents the Executive from disclosing information as may be required by applicable law, or pursuant to the valid order of a court or an authorized government agency, provided that, where permitted by applicable law, Executive agrees to give the Company advance notice of any anticipated disclosure of confidential information and will cooperate with the Company in seeking confidentiality protections. Moreover, nothing in this Agreement prohibits Executive from reporting possible violations of federal law or regulation to any governmental agency or entity or making other disclosures that are protected under the whistleblower provisions of applicable law and Executive does not need the Company’s prior authorization to make any such reports or disclosures and is not required to notify the Company that Executive has made such reports or disclosures.

 
		
	(b)
	The Company also gives Executive notice that: (i) Executive will not be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made: (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and solely for the purpose of reporting or investigating a suspected violation of law; or (B) in a complaint or other document that is filed under seal in a lawsuit or other proceeding; and (ii) if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the Company’s trade secrets to Executive’s attorney and use the trade secret information in the court proceeding if Executive (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.

		
	7.
	General Terms. 

7.1Governing Law; Jurisdiction; Venue; Interpretation.  This Agreement will be governed by the substantive laws of the State of Michigan, without regard to the principles of conflicts of laws.  This Agreement will be construed as a whole, according to its fair meaning, and not in favor of or against any Party, regardless of which Party may have initially drafted certain provisions set forth herein.

7.2Assignment.  This Agreement is personal to Executive and may not be assigned by Executive without prior written consent of the Company.  The Company may, without Executive’s consent, assign the Agreement to any affiliate of the Company or to any successor entity but will notify Executive immediately upon such assignment.

7.3Notices.  Any notice required or permitted hereunder will be in writing and will be deemed to have been duly given if delivered by hand, by express commercial delivery service, or if sent by certified 

mail, postage and certification prepaid, to Executive at Executive’s residence (as noted in the Company’s records), or to the Company address, or to such other address or addresses as either Party may have furnished to the other in writing.

7.4Entire Agreement; Amendments.  This Agreement, and any other exhibits and attachments to such agreement and the documents mentioned herein constitute the final and complete expression of all of the terms of the understanding and agreement between the Parties hereto and this Agreement replaces and supersedes any and all prior or other contemporaneous negotiations, communications, understandings, obligations, commitments, agreements or contracts, whether written or oral, between the Parties; and Executive hereby waives any and all claims based upon any and all prior or contemporaneous negotiations, communications, understandings, obligations, commitments, agreements or contracts, whether written or oral, between the Parties.  This Agreement may not be modified, amended, altered or supplemented except by means of the execution and delivery of a written instrument mutually executed by both Parties.  No action or omission by the Company shall be deemed to be a waiver of any of its rights under this Agreement unless such waiver is set forth in writing and identified as a waiver.  Any waiver by the Company of any rights under this Agreement shall not be deemed to be a waiver of any other right.  The covenants contained in Section 6 of this Agreement are essential terms hereof, and no breach or alleged breach by the Company of any term of this Agreement shall be deemed to release Executive from the obligations set forth in such Section.

7.5Compensation Recovery.  Notwithstanding anything in this Agreement to the contrary, Executive acknowledges and agrees that this Agreement and any compensation described herein are subject to the terms and conditions of the Company’s clawback policy (if any) as may be in effect from time to time specifically to implement Section 10D of the Securities Exchange Act of 1934, as amended, and any applicable rules or regulations promulgated thereunder (including applicable rules and regulations of any national securities exchange on which the common stock of the Company may be traded) (the “Compensation Recovery Policy”), and that applicable sections of this Agreement and any related documents shall be deemed superseded by and subject to the terms and conditions of the Compensation Recovery Policy from and after the effective date thereof.

7.6Severability.  If any provision of the Agreement is held to be invalid, illegal or unenforceable for any reason, the validity, legality and enforceability of the remaining provisions of this Agreement will not in any way be affected or impaired thereby.

7.7Survival.  Subject to any limits on applicability contained therein, Sections 6 and 7 shall survive and continue in full force in accordance with their terms notwithstanding any termination of Executive’s employment.

7.8Counterparts.  This Agreement may be executed in any number of counterparts and by the Parties hereto in separate counterparts, each of which when so executed shall be deemed an original and all of which together shall constitute but one and the same instrument.

7.9Withholding Taxes.  The Company may withhold from any amounts payable under this Agreement such Federal, state, and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

7.10Compliance with Section 409A. 
 
		
	(a)
	The Parties intend that any amounts payable under this Agreement, and the Company’s and Executive’s exercise of authority or discretion hereunder either comply with or 

are exempt from the provisions of Section 409A of the Internal Revenue Code (“Section 409A”) so as not to subject Executive to the payment of the additional tax, interest and any tax penalty which may be imposed under Section 409A.  Notwithstanding the foregoing, no particular tax result for Executive with respect to any income recognized by Executive in connection with this Agreement is guaranteed.

		
	(b)
	Notwithstanding any provisions of this Agreement to the contrary, if Executive is a “specified employee” (within the meaning of Section 409A and determined pursuant to policies adopted by the Company) at the time of Executive’s separation from service and if any portion of the payments or benefits to be received by Executive upon separation from service would be considered deferred compensation under Section 409A, amounts that would otherwise be payable pursuant to this Agreement and benefits that would otherwise be provided pursuant to this Agreement, in each case, during the six-month period immediately following Executive’s separation from service will instead be paid or made available on the earlier of (i) the first day of the seventh month following the date of Executive’s separation from service and (ii) Executive’s death.

  
		
	(c)
	To the extent any reimbursement or in-kind benefit provided under this Agreement is nonqualified deferred compensation within the meaning of Section 409A (i) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year; (ii) the reimbursement of an eligible expense must be made on or before the last day of the calendar year following the calendar year in which the expense was incurred; and (iii) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

		
	(d)
	Each payment under this Agreement is intended to be a “separate payment” and not of a series of payments for purposes of Section 409A.

		
	(e)
	A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits subject to Section 409A upon or following a termination of employment unless such termination is also a “separation from service” (within the meaning of Section 409A), and notwithstanding anything contained herein the contrary, the date on which such separation from service takes place shall be the termination date.

The Company and Executive acknowledge that each had the opportunity to consult with legal and financial counsel concerning the rights and obligations arising under this Agreement, that each has read and understands this Agreement, and that each enters into it willingly.

This Agreement is duly executed and delivered as of the day and year stated above. 

SHILOH INDUSTRIES, INC.

By:  /s/ Ramzi Hermiz       
Name: Ramzi Hermiz
Title:  President & CEO

EXECUTIVE

/s/ Lillian Etzkorn                
Lillian Etzkorn
April 26, 2018Exhibit 10.2

 

EMPLOYMENT AGREEMENT

 

This
EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
          , 20    by and between Weidai Ltd., an exempted company incorporated
and existing under the laws of the Cayman Islands (the “Company”) and        , an individual with [              passport/ID
number                                                ] (the Executive ).

 

RECITALS

 

WHEREAS, the Company desires to employ
the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below) and under
the terms and conditions of the Agreement;

 

WHEREAS, the Executive desires to be employed
by the Company during the term of Employment and under the terms and conditions of the Agreement;

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the
premises and the mutual covenants and agreements herein contained, the Company and the Executive agree as follows:

 

		1.	EMPLOYMENT

 

The Company hereby agrees to employ the
Executive and the Executive hereby accepts such employment, on the terms and conditions hereinafter set forth (the “Employment”).

 

		2.	TERM

 

Subject to the terms and conditions
of the Agreement, the initial term of the Employment shall be         years, commencing on           , (the “Effective
Date”) and ending on        , (the “Initial Term”), unless terminated earlier
pursuant to the terms of the Agreement. Upon expiration of the Initial Term of the Employment, the Employment shall be
automatically extended for successive periods of months each (each, an “Extension Period”) unless either
party shall have given 60 days advance written notice to the other party, in the manner set forth in Section 19 below, prior
to the end of the Extension Period in question, that the term of this Agreement that is in effect at the time such written
notice is given is not to be extended or further extended, as the case may be (the period during which this Agreement is
effective being referred to hereafter as the “Term”).

 

		3.	POSITION AND DUTIES

 

		(a)	During the Term, the Executive shall serve as                                  of the Company or in such other position or positions
with a level of duties and responsibilities consistent with the foregoing with the Company and/or its subsidiaries and affiliated
entities as the board of directors of the Company (the “Board”) may specify from time to time and shall have
the duties, responsibilities and obligations customarily assigned to individuals serving in the position or positions in which
the Executive serves hereunder and as assigned by the Board, or with the, by the Company’s Chief Executive Officer.

 

     

     

    

 

		(b)	The Executive agrees to serve without additional compensation, if elected or appointed thereto,
as a director of the Company or any subsidiaries or affiliated entities of the Company (collectively, the “Group”)
and as a member of any committees of the board of directors of any such entity, provided that the Executive is indemnified for
serving in any and all such capacities on a basis no less favorable than is currently provided to any other director of any member
of the Group.

 

		(c)	The Executive agrees to devote all of his/her working time and efforts to the performance of his/her
duties for the Company and to faithfully and diligently serve the Company in accordance with the Agreement and the guidelines,
policies and procedures of the Company approved from time to time by the Board.

 

		4.	NO BREACH OF CONTRACT

 

The Executive hereby represents to the
Company that: (i) the execution and delivery of the Agreement by the Executive and the performance by the Executive of the Executive’s
duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which
the Executive is a party or by which the Executive is otherwise bound, except that the Executive does not make any representation
with respect to agreements required to be entered into by and between the Executive and any member of the Group pursuant to the
applicable law of the jurisdiction in which the Executive is based, if any; (ii) that the Executive is not in possession of any
information (including, without limitation, confidential information and trade secrets) the knowledge of which would prevent the
Executive from freely entering into the Agreement and carrying out his/her duties hereunder; and (iii) that the Executive is not
bound by any confidentiality, trade secret or similar agreement with any person or entity other than any member of the Group.

 

		5.	LOCATION

 

The Executive will be based in                                 , or
any other location as requested by the Company during the Term.

 

		6.	COMPENSATION AND BENEFITS

 

		(a)	Cash Compensation. As compensation
                                         for the performance by the Executive of his/her obligations hereunder, during the Term,
                                         the Company shall pay the Executive cash compensation (inclusive of the statutory benefit
                                         contributions that the Company is required to set aside for the Executive under applicable
                                         law) pursuant to Schedule A hereto, subject to annual review and adjustment by
                                         the Board or any committee designated by the Board.

 

		(b)	Equity Incentives. During the
                                         Term, the Executive shall be eligible to participate, at a level comparable to similarly
                                         situated executives of the Company, in such long-term compensation arrangements as may
                                         be authorized from time to time by the Board, including any share incentive plan the
                                         Company may adopt from time to time in its sole discretion.

 

		(c)	Benefits. During the Term, the
                                         Executive shall be entitled to participate in all of the employee benefit plans and arrangements
                                         made available by the Company to its similarly situated executives, including, but not
                                         limited to, any retirement plan, medical insurance plan and travel/holiday policy, subject
                                         to and on a basis consistent with the terms, conditions and overall administration of
                                         such plans and arrangements.

 

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		7.	TERMINATION OF THE AGREEMENT

 

The Employment may be terminated as follows:

 

		(a)	Death. The
                                         Employment shall terminate upon the Executive’s death.

 

		(b)	Disability. The Employment shall
                                         terminate if the Executive has a disability, including any physical or mental impairment
                                         which, as reasonably determined by the Board, renders the Executive unable to perform
                                         the essential functions of his/her position at the Company, even with reasonable accommodation
                                         that does not impose an undue burden on the Company, for more than 180 days in any 12-month
                                         period, unless a longer period is required by applicable law, in which case that longer
                                         period shall apply.

 

		(c)	Cause. The Company may terminate
                                         the Executive’s employment hereunder for Cause. The occurrence of any of the following,
                                         as reasonably determined by the Company, shall be a reason for Cause, provided that,
                                         if the Company determines that the circumstances constituting Cause are curable, then
                                         such circumstances shall not constitute Cause unless and until the Executive has been
                                         informed by the Company of the existence of Cause and given an opportunity of ten business
                                         days to cure, and such Cause remains uncured at the end of such ten-day period:

 

		(1)	continued failure by the Executive to satisfactorily perform his/her duties;

 

		(2)	willful misconduct or gross negligence by the Executive in the performance of his/her duties hereunder,
including insubordination;

 

		(3)	the Executive’s conviction or entry of a guilty or nolo contendere plea of any felony
or any misdemeanor involving moral turpitude;

 

		(4)	the Executive’s commission of any act involving dishonesty that results in material financial,
reputational or other harm, monetary or otherwise, to any member of the Group, including but not limited to an act constituting
misappropriation or embezzlement of the property of any member of the Group as determined in good faith by the Board; or

 

		(5)	any material breach by the Executive of this Agreement.

 

		(d)	Good Reason. The Executive may
                                         terminate his/her employment hereunder for “Good Reason” upon the occurrence,
                                         without the written consent of the Executive, of an event constituting a material breach
                                         of this Agreement by the Company that has not been fully cured within ten business days
                                         after written notice thereof has been given by the Executive to the Company setting forth
                                         in sufficient detail the conduct or activities the Executive believes constitute grounds
                                         for Good Reason, including but not limited to: the failure by the Company to pay to the
                                         Executive any portion of an installment of deferred compensation under any deferred compensation
                                         program of the Company, within twenty business days of the date such compensation is
                                         due.

 

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		(e)	Without Cause by the Company; Without
                                         Good Reason by the Executive. The Company may terminate the Executive’s employment
                                         hereunder at any time without Cause upon 60-day prior written notice to the Executive.
                                         The Executive may terminate the Executive’s employment voluntarily for any reason
                                         or no reason at any time by giving 60-day prior written notice to the Company.

 

		(f)	Notice of Termination. Any termination
                                         of the Executive’s employment under the Agreement shall be communicated by written
                                         notice of termination (“Notice of Termination”) from the terminating
                                         party to the other party. The notice of termination shall indicate the specific provision(s)
                                         of the Agreement relied upon in effecting the termination.

 

		(g)	Date of Termination. The “Date
                                         of Termination” shall mean (i) the date specified in the Notice of Termination,
                                         or (ii) if the Executive s employment is terminated by the Executive’s death, the
                                         date of his/her death.

 

		(h)	Compensation upon Termination.

 

		(1)	Death. If the Executive’s
                                         employment is terminated by reason of the Executive’s death, the Company shall
                                         have no further obligations to the Executive under this Agreement and the Executive’s
                                         benefits shall be determined under the Company’s retirement, insurance and other
                                         benefit and compensation plans or programs then in effect in accordance with the terms
                                         of such plans and programs.

 

		(2)	By Company without Cause or
                                         by the Executive for Good Reason. If the Executive’s employment is terminated
                                         by the Company other than for Cause or by the Executive for Good Reason, the Company
                                         shall (i) continue to pay and otherwise provide to the Executive, during any notice period,
                                         all compensation, base salary and previously earned but unpaid incentive compensation,
                                         if any, and shall continue to allow the Executive to participate in any benefit plans
                                         in accordance with the terms of such plans during such notice period; and (ii) pay to
                                         the Executive, in lieu of benefits under any severance plan or policy of the Company,
                                         any such amount as may be agreed between the Company and the Executive.

 

		(3)	By Company for Cause or by the
                                         Executive other than for Good Reason. If the Executive’s employment shall be
                                         terminated by the Company for Cause or by the Executive other than for Good Reason, the
                                         Company shall pay the Executive his/her base salary at the rate in effect at the time
                                         Notice of Termination is given through the Date of Termination, and the Company shall
                                         have no additional obligations to the Executive under this Agreement.

 

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		(i)	Return of Company Property.
                                         The Executive agrees that following the termination of the Executive’s employment
                                         for any reason, or at any time prior to the Executive’s termination upon the request
                                         of the Company, he/she shall return all property of the Group that is then in or thereafter
                                         comes into his/her possession, including, but not limited to, any Confidential Information
                                         (as defined below) or Intellectual Property (as defined below), or any other documents,
                                         contracts, agreements, plans, photographs, projections, books, notes, records, electronically
                                         stored data and all copies, excerpts or summaries of the foregoing, as well as any automobile
                                         or other materials or equipment supplied by the Group to the Executive, if any.

 

		(j)	Requirement
                                         for a Release. Notwithstanding the foregoing, the Company’s obligations to
                                         pay or provide any benefits shall (1) cease as of the date the Executive breaches any
                                         of the provisions of Sections 8, 9 and 11 hereof, and (2) be conditioned on the Executive
                                         signing the Company’s customary release of claims in favor of the Group and the
                                         expiration of any revocation period provided for in such release.

 

		8.	CONFIDENTIALITY AND NONDISCLOSURE

 

		(a)	Confidentiality
                                         and Non-Disclosure.

 

		(1)	The Executive acknowledges and agrees that: (A) the Executive holds a position of trusts and confidence
with the Company and that his/her employment by the Company will require that the Executive have access to and knowledge of valuable
and sensitive information, material, and devices relating to the Company and/or its business, activities, products, services, customers
and vendors, including, but not limited to, the following, regardless of the form in which the same is accessed, maintained or
stored: the identity of the Company’s actual and prospective customers and, as applicable, their representatives; prior,
current or future research or development activities of the Company; the products and services provided or offered by the Company
to customers or potential customers and the manner in which such services are performed or to be performed; the product and/or
service needs of actual or prospective customers; pricing and cost information; information concerning the development, engineering,
design, specifications, acquisition or disposition of products and/or services of the Company; user base personal data, programs,
software and source codes, licensing information, personnel information, advertising client information, vendor information, marketing
plans and techniques, forecasts, and other trade secrets (“Confidential Information”); and (B) the direct and
indirect disclosure of any such Confidential Information would place the Company at a competitive disadvantage and would do damage,
monetary or otherwise, to the Company’s business.

 

		(2)	During the Term and at all times thereafter, the Executive shall not, directly or indirectly, whether
individually, as a director, stockholder, owner, partner, employee, consultant, principal or agent of any business, or in any other
capacity, publish or make known, disclose, furnish, reproduce, make available, or utilize any of the Confidential Information without
the prior express written approval of the Company, other than in the proper performance of the duties contemplated herein, unless
and until such Confidential Information is or shall become general public knowledge through no fault of the Executive.

 

		(3)	In the event that the Executive is required by law to disclose any Confidential Information, the
Executive agrees to give the Company prompt advance written notice thereof and to provide the Company with reasonable assistance
in obtaining an order to protect the Confidential Information from public disclosure.

 

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		(4)	The failure to mark any Confidential Information as confidential shall not affect its status as
Confidential Information under this Agreement.

 

		(b)	Third Party Information in the Executive’s
                                         Possession. The Executive agrees that he/she shall not, during the Term, (i) improperly
                                         use or disclose any proprietary information or trade secrets of any former employer or
                                         other person or entity with which the Executive has an agreement or duty to keep in confidence
                                         information required by Executive, if any, or (ii) bring into the premises of Company
                                         any document or confidential or proprietary information belonging to such former employer,
                                         person or entity unless consented to in writing by such former employer, person or entity.
                                         The Executive will indemnify the Company and hold it harmless from and against all claims,
                                         liabilities, damages and expenses, including reasonable attorneys’ fees and costs
                                         of litigation, arising out of or in connection with any violation of the foregoing.

 

		(c)	Third Party Information in the Company’s
                                         Possession. The Executive recognizes that the Company may have received, and in the
                                         future may receive, from third parties their confidential or proprietary information
                                         subject to a duty on the Company’s part to maintain the confidentiality of such
                                         information and to use it only for certain limited purposes. The Executive agrees that
                                         the Executive owes the Company and such third parties, during the Term and thereafter,
                                         a duty to hold all such confidential or proprietary information in strict confidence
                                         and not to disclose such information to any person or firm, or otherwise use such information,
                                         in a manner inconsistent with the limited purposes permitted by the Company’s agreement
                                         with such third party.

 

This Section 8 shall survive the termination
of the Agreement for any reason. In the event the Executive breaches this Section 8, the Company shall have right to seek remedies
permissible under applicable law.

 

		9.	INTELLECTUAL PROPERTY

 

		(a)	Prior Inventions. The Executive
                                         has attached hereto, as Schedule B, a list describing all inventions, ideas, improvements,
                                         designs and discoveries, whether or not patentable and whether or not reduced to practice,
                                         original works of authorship and trade secrets made or conceived by or belonging to the
                                         Executive (whether made solely by the Executive or jointly with others) that (i) were
                                         developed by Executive prior to the Executive’s employment by the Company (collectively,
                                         “Prior Inventions”), (ii) relate to the Company’s actual or
                                         proposed business, products or research and development, and (iii) are not assigned to
                                         the Company hereunder; or, if no such list is attached, the Executive represents that
                                         there are no such Prior Inventions. Except to the extent set forth in Schedule B,
                                         the Executive hereby acknowledges that, if in the course of his/her service for the Company,
                                         the Executive incorporates into a Company product, process or machine a Prior Invention
                                         owned by the Executive or in which he/she has an interest, the Company is hereby granted
                                         and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide right
                                         and license (which may be freely transferred by the Company to any other person or entity)
                                         to make, have made, modify, use, sell, sublicense and otherwise distribute such Prior
                                         Invention as part of or in connection with such product, process or machine.

 

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		(b)	Assignment
                                         of Intellectual Property. The Executive hereby assigns to the Company or its designees,
                                         without further consideration and free and clear of any lien or encumbrance, the Executive’s
                                         entire right, title and interest (within the United States and all foreign jurisdictions)
                                         to any and all inventions, discoveries, improvements, developments, works of authorship,
                                         concepts, ideas, plans, specification, software, formulas, databases, designees, processes
                                         and contributions to Confidential Information created, conceived, developed or reduced
                                         to practice by the Executive (alone or with others) during the Term which (i) are related
                                         to the Company’s current or anticipated business, activities, products, or services,
                                         (ii) result from any work performed by Executive for the Company, or (iii) are created,
                                         conceived, developed or reduced to practice with the use of Company property, including
                                         any and all Intellectual Property Rights (as defined below) therein (“Work Product”).
                                         Any Work Product which falls within the definition of work made for hire , as such term
                                         is defined in the U.S. Copyright Act, shall be considered a work made for hire, the copyright
                                         in which vests initially and exclusively in the Company. The Executive waives any rights
                                         to be attributed as the author of any Work Product and any droit morale (moral rights)
                                         in Work Product. The Executive agrees to immediately disclose to the Company all Work
                                         Product. For purposes of this Agreement, “Intellectual Property” shall
                                         mean any patent, copyright, trademark or service mark, trade secret, or any other proprietary
                                         rights protection legally available.

 

		(c)	Patent
                                         and Copyright Registration. The Executive agrees to execute and deliver any instruments
                                         or documents and to do all other things reasonably requested by the Company in order
                                         to more fully vest the Company with all ownership rights in the Work Product. If any
                                         Work Product is deemed by the Company to be patentable or otherwise registrable, the
                                         Executive shall assist the Company (at the Company’s expense) in obtaining letters
                                         of patent or other applicable registration therein and shall execute all documents and
                                         do all things, including testifying (at the Company’s expense) as necessary or
                                         appropriate to apply for, prosecute, obtain, or enforce any Intellectual Property right
                                         relating to any Work Product. Should the Company be unable to secure the Executive’s
                                         signature on any document deemed necessary to accomplish the foregoing, whether due to
                                         the Executive’s disability or other reason, the Executive hereby irrevocably designates
                                         and appoints the Company and each of its duly authorized officers and agents as the Executive’s
                                         agent and attorney-in-fact to act for and on the Executive’s behalf and stead to
                                         take any of the actions required of Executive under the previous sentence, with the same
                                         effect as if executed and delivered by the Executive, such appointment being coupled
                                         with an interest.

 

This Section 9 shall survive the termination
of the Agreement for any reason. In the event the Executive breaches this Section 9, the Company shall have right to seek remedies
permissible under applicable law.

 

		10.	CONFLICTING EMPLOYMENT

 

The Executive hereby agrees that, during
the Term, he/she will not engage in any other employment, occupation, consulting or other business activity related to the business
in which the Company is now involved or becomes involved during the Term, nor will the Executive engage in any other activities
that conflict with his/her obligations to the Company without the prior written consent of the Company.

 

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		11.	NON-COMPETITION AND NON-SOLICITATION

 

		(a)	Non-Competition. In consideration
                                         of the compensation provided to the Executive by the Company hereunder, the adequacy
                                         of which is hereby acknowledged by the parties hereto, the Executive agree that during
                                         the Term and for a period of one year following the termination of the Employment for
                                         whatever reason, the Executive shall not engage in Competition (as defined below) with
                                         the Group. For purposes of this Agreement, “Competition” by the Executive
                                         shall mean the Executive’s engaging in, or otherwise directly or indirectly being
                                         employed by or acting as a consultant or lender to, or being a director, officer, employee,
                                         principal, agent, stockholder, member, owner or partner of, or permitting the Executive’s
                                         name to be used in connection with the activities of, any other business or organization
                                         which competes, directly or indirectly, with the Group in the Business; provided,
                                         however, it shall not be a violation of this Section 11(a) for the Executive to
                                         become the registered or beneficial owner of up to five percent (5%) of any class of
                                         the capital stock of a publicly traded corporation in Competition with the Group, provided
                                         that the Executive does not otherwise participate in the business of such corporation.

 

For purposes of this Agreement,
 “Business” means express delivery services, transportation and courier services, and any other business which
the Group engages in, or is preparing to become engaged in, during the Term.

 

		(b)	Non-Solicitation; Non-Interference.
                                         During the Term and for a period of one year following the termination of the Executive’s
                                         employment for any reason, the Executive agrees that he/she will not, directly or indirectly,
                                         for the Executive’s benefit or for the benefit of any other person or entity, do
                                         any of the following:

 

		(1)	approach the suppliers, clients, direct or end customers or contacts or other persons or entities
introduced to the Executive in his/her capacity as a representative of the Group for the purpose of doing business of the same
or of a similar nature to the Business or doing business that will harm the business relationships of the Group with the foregoing
persons or entities;

 

		(2)	assume employment with or provide services to any competitors of the Group, or engage, whether
as principal, partner, licensor or otherwise, any of the Group’s competitors, without the Group’s express consent;
or

 

		(3)	seek, directly or indirectly, to solicit the services of, or hire or engage, any person who is
known to be employed or engaged by the Group; or

 

		(4)	otherwise interfere with the business or accounts of the Group.

 

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		(c)	Injunctive Relief; Indemnity of
                                         Company. The Executive agrees that any breach or threatened breach of subsections
                                         (a) and (b) of this Section 11 would result in irreparable injury and damage to the Company
                                         for which an award of money to the Company would not be an adequate remedy. The Executive
                                         therefore also agrees that in the event of said breach or any reasonable threat of breach,
                                         the Company shall be entitled to seek an immediate injunction and restraining order to
                                         prevent such breach and/or threatened breach and/or continued breach by the Executive
                                         and/or any and all persons and/or entities acting for and/or with the Executive. The
                                         terms of this paragraph shall not prevent the Company from pursuing any other available
                                         remedies for any breach or threatened breach hereof, including, but not limited to, remedies
                                         available under this Agreement and the recovery of damages. The Executive and the Company
                                         further agree that the provisions of this Section 11 are reasonable. The Executive agrees
                                         to indemnify and hold harmless the Company from and against all reasonable expenses (including
                                         reasonable fees and disbursements of counsel) which may be incurred by the Company in
                                         connection with, or arising out of, any violation of this Agreement by the Executive.
                                         This Section 11 shall survive the termination of the Agreement for any reason.

 

		12.	WITHHOLDING TAXES

 

Notwithstanding anything else herein to
the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable
under or pursuant to the Agreement such national, state, provincial, local or any other income, employment, or other taxes as may
be required to be withheld pursuant to any applicable law or regulation.

 

		13.	ASSIGNMENT

 

The Agreement is personal in its nature
and neither of the parties hereto shall, without the consent of the other, assign or transfer the Agreement or any rights or obligations
hereunder; provided, however, that the Company may assign or transfer the Agreement or any rights or obligations hereunder to any
member of the Group without such consent. If the Executive should die while any amounts would still be payable to the Executive
hereunder if the Executive had continued to live, all such amounts unless otherwise provided herein, shall be paid in accordance
with the terms of this Agreement to the Executive’s devisee, legatee, or other designee or, if there be no such designee,
to the Executive’s estate. The Company will require any and all successors (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree
to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such
succession had taken place. Failure of the Company to obtain such assumption and agreement prior to the effectiveness of any such
succession shall be a breach of this Agreement and shall entitle the Executive to compensation from the Company in the same amount
and on the same terms as the Executive would be entitled to hereunder if the Company had terminated the Executive’s employment
other than for Cause, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective
shall be deemed the Date of Termination. As used in this Section, “Company” shall mean the Company as herein
before defined and any successor to its business and/or assets as aforesaid which executes and delivers the agreement provided
for in this Section 13 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

 

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		14.	SEVERABILITY

 

If any provision of the Agreement or the
application thereof is held invalid, the invalidity shall not affect other provisions or applications of the Agreement which can
be given effect without the invalid provisions or applications and to this end the provisions of the Agreement are declared to
be severable.

 

		15.	ENTIRE AGREEMENT

 

The Agreement constitutes the entire agreement
and understanding between the Executive and the Company regarding the terms of the Employment and supersedes all prior or contemporaneous
oral or written agreements concerning such subject matter. The Executive acknowledges that he/she has not entered into the Agreement
in reliance upon any representation, warranty or undertaking which is not set forth in the Agreement.

 

		16.	GOVERNING LAW

 

The Agreement shall be governed by and
construed in accordance with the law of the State of New York.

 

		17.	AMENDMENT

 

The Agreement may not be amended, modified
or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to the Agreement, which
agreement is executed by both of the parties hereto.

 

		18.	WAIVER

 

Neither the failure nor any delay on the
part of a party to exercise any right, remedy, power or privilege under the Agreement shall operate as a waiver thereof, nor shall
any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of
any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence
be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective
unless it is in writing and is signed by the party asserted to have granted such waiver.

 

		19.	NOTICES

 

All notices, requests, demands and other
communications required or permitted under the Agreement shall be in writing and shall be deemed to have been duly given and made
if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, (iii) sent by a recognized courier with next-day or
second-day delivery to the last known address of the other party; or (iv) sent by e-mail with confirmation of receipt.

 

		20.	COUNTERPARTS

 

The Agreement may be executed in any number
of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which
together shall constitute one and the same instrument. The Agreement shall become binding when one or more counterparts hereof,
individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories.

 

Photographic copies of such signed counterparts
may be used in lieu of the originals for any purpose.

 

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		21.	NO INTERPRETATION AGAINST
DRAFTER

 

Each party recognizes that the Agreement
is a legally binding contract and acknowledges that such party has had the opportunity to consult with legal counsel of choice.
In any construction of the terms of the Agreement, the same shall not be construed against either party on the basis of that party
being the drafter of such terms.

 

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left blank.]

 

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IN WITNESS WHEREOF,
the Agreement has been executed as of the date first written above.

 

	COMPANY:	Weidai Ltd.
	 	a Cayman Islands exempted company
	 	 
	 	By:	     
	 	Name:	 
	 	Title:	 
	 	 
	EXECUTIVE:	
	 	 
	 	 
	 	Name:
	 	Address:

 

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SCHEDULE A

 

Cash Compensation

 

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SCHEDULE B

 

Prior Inventions

 

    	 	14

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