Document:

Exhibit 10.11

 

 

The
Directors

GBS
Inc.

708
Third Avenue, 6th Floor

New
York, New York 10017

 

26
November 2019

 

Dear
Directors

 

Confirmation
of Equity Support

 

In order to support compliance by GBS Inc.
(“GBS”) with the stockholders’ equity requirements for continued listing on its principal exchange, commencing
upon the completion of GBS’s initial public offering (the “IPO”) and continuing until the second anniversary
thereof, GBS shall have the option (the “Option”) to sell to iQnovate Ltd from time to time, and upon exercise
of the Option by GBS as set forth in this letter, iQnovate Ltd shall have the obligation to purchase from GBS, its proportionate
share of up to $9,300,000 in shares of GBS common stock, at a purchase price per share equal to the greater of the public
offering price in the IPO and the last closing sale price prior to the exercise of the Option. The “proportionate
share” shall be the ratio that the number of shares of Life Science Biosensor Diagnostics Pty Ltd (“LSBD”) held
by it as of the date of the IPO bears to the aggregate number of shares of LSBD held by it and IQX Ltd as the date of the IPO.

 

Such purchases shall be made not later than
five business days after GBS notifies iQnovate Ltd in writing that it is exercising the Option, which notice shall state
(i) that it reasonably expects its stockholders’ equity will be less than the minimum requirement for continued listing
on the principal exchange as of the end of the current fiscal quarter, or that its actual stockholders’ equity was less
than such amount as of the end of the most recently completed fiscal quarter, (ii) the amount of the deficiency, (iii)
the dollar amount as to which the Option is being exercised, and (iv) the purchase price per share. iQnovate Ltd’s obligation
to purchase shares of GBS common stock in connection with such notice shall be limited to an amount no greater than its
proportionate share of the sum of such deficiency plus 25% of the minimum stockholders’ equity requirement (but in
any event shall not exceed, in the aggregate, iQnovate Ltd’s proportionate share of $9,300,000).

 

 iQnovate Ltd hereby represents and warrants
that: (a) it has been advised that the shares of the Company’s common stock issuable upon exercise of the Option (the “Shares”)
have not been registered under the Securities Act of 1933, as amended (the “Act”), that the Shares may not be offered
or sold, directly or indirectly, unless registered (or exempt from registration) under the Act and the securities laws of all
applicable states, and that any certificates representing the Shares will bear a legend to such effect; (b) it is acquiring the
Shares for its account for investment purposes only; (c) it has no present intention of selling or otherwise disposing of the
Shares in violation of the securities laws; (d) it is an “accredited investor” as defined by Rule 501 of Regulation
D promulgated under the Act; (e) it has had both the opportunity to ask questions and receive answers from the officers and directors
of the Company and all persons acting on its behalf concerning the terms and conditions of the offer made hereunder; (f) it is
familiar with the proposed business, management, financial condition and affairs of the Company; (g) it has full power, authority
and legal capacity to execute and deliver this letter and any documents contemplated herein or needed to consummate the transactions
contemplated in this letter; and (h) this letter constitutes a legal, valid and binding obligation, and is enforceable against
it. 

 

Signed
for and behalf of IQnovate Ltd

 

Dr
George Syrmalis

CEO
& DirectorExhibit 10.12

 

 

The
Directors

GBS
Inc.

708
Third Avenue, 6th Floor

New
York, New York 10017

 

26
November 2019

 

Dear
Directors

 

Confirmation
of Equity Support

 

In order to support compliance by GBS Inc.
(“GBS”) with the stockholders’ equity requirements for continued listing on its principal exchange, commencing
upon the completion of GBS’s initial public offering (the “IPO”) and continuing until the second anniversary
thereof, GBS shall have the option (the “Option”) to sell to IQX Ltd from time to time, and upon exercise of
the Option by GBS as set forth in this letter, IQX Ltd shall have the obligation to purchase from GBS, its proportionate
share of up to $9,300,000 in shares of GBS common stock, at a purchase price per share equal to the greater of the public
offering price in the IPO and the last closing sale price prior to the exercise of the Option. The “proportionate
share” shall be the ratio that the number of shares of Life Science Biosensor Diagnostics Pty Ltd (“LSBD”) held
by it as of the date of the IPO bears to the aggregate number of shares of LSBD held by it and iQnovate Ltd as the date of the
IPO.

 

Such purchases shall be made not later than
five business days after GBS notifies IQX Ltd in writing that it is exercising the Option, which notice shall state (i)
that it reasonably expects its stockholders’ equity will be less than the minimum requirement for continued listing
on the principal exchange as of the end of the current fiscal quarter, or that its actual stockholders’ equity was less
than such amount as of the end of the most recently completed fiscal quarter, (ii) the amount of the deficiency, (iii)
the dollar amount as to which the Option is being exercised, and (iv) the purchase price per share. IQX Ltd’s obligation
to purchase shares of GBS common stock in connection with such notice shall be limited to an amount no greater than its
proportionate share of the sum of such deficiency plus 25% of the minimum stockholders’ equity requirement (but in
any event shall not exceed, in the aggregate, IQX Ltd’s proportionate share of $9,300,000).

 

 IQX Ltd hereby represents and warrants
that: (a) it has been advised that the shares of the Company’s common stock issuable upon exercise of the Option (the “Shares”)
have not been registered under the Securities Act of 1933, as amended (the “Act”), that the Shares may not be offered
or sold, directly or indirectly, unless registered (or exempt from registration) under the Act and the securities laws of all
applicable states, and that any certificates representing the Shares will bear a legend to such effect; (b) it is acquiring the
Shares for its account for investment purposes only; (c) it has no present intention of selling or otherwise disposing of the
Shares in violation of the securities laws; (d) it is an “accredited investor” as defined by Rule 501 of Regulation
D promulgated under the Act; (e) it has had both the opportunity to ask questions and receive answers from the officers and directors
of the Company and all persons acting on its behalf concerning the terms and conditions of the offer made hereunder; (f) it is
familiar with the proposed business, management, financial condition and affairs of the Company; (g) it has full power, authority
and legal capacity to execute and deliver this letter and any documents contemplated herein or needed to consummate the transactions
contemplated in this letter; and (h) this letter constitutes a legal, valid and binding obligation, and is enforceable against
it. 

   

Signed
for and behalf of IQX Ltd

 

Dr
George Syrmalis

CEO
& DirectorExhibit
10.2

 

EMPLOYMENT
AGREEMENT

 

This
EMPLOYMENT AGREEMENT (this “Agreement”) is made as of September 1, 2019 (“Agreement/Effective Date”)
by and between Leader Capital Holdings Corp., a Nevada corporation (the “Company”), and Yi-Hsiu LIN (“Executive”),
with reference to the following facts:

 

A.
Leader Capital Holdings Corp., a Nevada corporation (the “Company”), operates an international online financial
information and social platform APP with operations in Hong Kong and Taiwan.

 

B.
Executive has extensive experience in the field of finance technology.

 

C.
The Company desires to employ Executive to perform the duties and responsibilities described herein on the terms and conditions
hereinafter set forth.

 

NOW,
THEREFORE, the parties agree as follows:

 

1.
Employment. The Company hereby employs Executive and Executive hereby accepts such employment upon the terms and conditions
hereinafter set forth.

 

2.
Duties. Subject to the terms and provisions of this Agreement, Executive is hereby employed by the Company as Chief
Executive Officer of the Company. Executive shall have full responsibility and authority for such duties as customarily is
associated with service as Chief Executive Officer of the Company at the direction of the Board of Directors of the Company (the
“Board”). Executive shall faithfully and diligently perform such duties assigned to Executive and shall report
directly to the Board.

 

3.
Scope of Services. Executive shall devote substantially all of his business time, attention, energies, skills, learning
and efforts to the Company’s business.

 

4.
Term. Subject to prior termination of this Agreement as hereinafter provided, the term of this Agreement shall commence
on the Effective Date and shall continue for two (2) years thereafter, unless earlier terminated as provided in this Agreement.

 

5.
Compensation.

 

5.1
Salary. Executive’s annual compensation (“Base Compensation”) under this Agreement shall be $50,000.00
per year, prorated for any partial year, commencing upon the Effective Date. The Base Compensation shall be payable immediately
as from the Effective Date. The Company could fulfill the yearly Base Compensation either in cash or grant the Executive two million
five hundred thousand (2,500,000) shares of the Company’s restricted Common Stock to be vested on September 16, 2019, prorated
for any partial year. Any increases in Base Compensation shall be in the sole and absolute discretion of the Board.

 

5.2
Bonus. Executive shall be entitled to participate in an executive bonus plan, if any, adopted by the board of directors,
or an individual bonus, which shall provide for bonus compensation of up to three (3) times Base Compensation based on the Executive’s
achievement of appropriate performance criteria to be determined by the board of directors (or its compensation committee).

 

5.3
Expenses. The Company shall reimburse Executive for all reasonable business, office personnel, Company-related entertainment
and travel expenses actually incurred or paid by Executive in the performance of his services on behalf of the Company (“Expenses”),
in accordance with the Company’s expense reimbursement policy as from time to time in effect.

 

    	 	 	 

     

    

 

5.4
Options. The Executive shall be eligible to participate in the Company’s Stock Incentive Plan, if any, and receive
option grant(s) thereunder for the purchase common stock of the Company (“Options” or “Option”)
at the discretion of the Board of Directors. The Executive shall receive an initial Option for the purchase of a number of shares
of Company common stock representing up to one percent (1%) of the issued and outstanding common stock of the Company at an exercise
price per share equal to 50% the fair market value of the underlying stock on the date of grant. Options granted to the Executive
shall be controlled by the terms and conditions set forth in a Notice of Grant and Stock Option Agreement, if any, approved by
the Board of Directors (“Option Agreement”).

 

6.
Other Rights and Benefits. Executive shall receive all other rights and benefits, including health insurance, life insurance,
a car allowance, vacation time, sick pay and retirement plan participation, as are made available to all other executives of the
Company and its affiliates.

 

7.
Termination. Executive’s employment may be terminated as follows:

 

7.1
Termination for Death. Executive’s employment shall terminate immediately upon Executive’s death.

 

7.2
Termination Upon Disability. Executive’s employment shall terminate if Executive should become totally and permanently
disabled. For purposes of this Agreement, Executive shall be considered “totally and permanently disabled” if Executive
is treated as permanently “disabled” under any permanent disability insurance policy maintained by the Company and
is entitled to full benefits payable under such policy upon a total and permanent disability. In the event any such policy is
either not in force or the benefits are not available under such policy, then “total and permanent disability” shall
mean the inability of Executive, as a result of substance abuse, any mental, nervous or psychiatric disorder, or physical condition,
injury or illness to perform substantially all of his current duties on a full-time basis for a period of six (6) consecutive
months, as determined by a licensed physician selected by the Board.

 

7.3
Termination by Company for “Cause”. The Company may terminate this Agreement for “Cause” upon three
days written notice so long as the Company has given Executive written notice describing the Cause pursuant to subsections (c)
and/or (e) Executive has not cured such Cause within a reasonable time, but no less than 14 days. For purposes of this Agreement,
“Cause” shall mean the existence or occurrence of any of the following:

 

(a)
Executive’s conviction for or pleading of nolo contendre to any felony involving the Company or moral turpitude.

 

(b)
Executive’s misappropriation of Company assets.

 

(c)
Executive’s willful violation of a Company policy or a directive of the Board previously delivered to him in writing.

 

(d)
Executive’s breach of his obligations set forth in Sections 10, 11, or 12 below.

 

(e)
Any willful neglect or material breach of duty by Executive under this Agreement, or any failure by Executive to perform under
this Agreement.

 

    	 	2	 

     

    

 

8.
Representations and Warranties. Executive hereby represents and warrants to Company that as of the date of execution of
this Agreement: (i) this Agreement will not cause or require Executive to breach any obligation to, or agreement or confidence
with, any other person; (ii) Executive is not representing, or otherwise affiliated in any capacity with, any other lines of products,
manufacturers, vendors or customers of the Company; and (iii) Executive has not been induced to enter into this Agreement by any
promise or representation other than as expressly set forth in this Agreement.

 

9.
Non-Solicitation.

 

9.1
Non-Solicitation of Employees. Executive agrees that he will not, while employed by the Company and for a period of two
(2) years following termination of such employment:

 

(a)
directly solicit, encourage, or take any other action which is intended to induce any other employee of the Company to terminate
his or her employment with the Company; or

 

(b)
directly interfere in any manner with the contractual or employment relationship between the Company and any such employee of
the Company.

 

The
foregoing shall not prohibit Executive or any entity with which Executive may later be affiliated from hiring a former or existing
employee of the Company or any of its subsidiaries, provided that such hiring does not result from the direct actions of Executive.
For purposes of this Article 10, Article 11, Article 12 and Article 13, any reference to the Company shall include all of the
Company’s Affiliates. As used herein, “Affiliate” means any person or entity controlling, controlled by or under
common control with another person or entity.

 

9.2
Non-Solicit of Customers with respect to Competitive Business Activity. Executive agrees that he will not, while employed
by the Company and for a period of two (2) years following termination of such employment, directly or indirectly, whether for
his own account or for the account of any other individual or entity, solicit the business or patronage of any customers of the
Company with respect to products and/or services directly related to a Competitive Business Activity. “Competitive Business
Activity” shall mean engaging in, whether independently or as an employee, agent, consultant, advisor, independent contractor,
partner, stockholder, officer, director or otherwise, any business which is materially competitive with the business of the Company
as conducted or actively planned to be conducted by the Company during his employment by it, provided that Executive shall not
be deemed to engage in a Competitive Business Activity solely by reason of (i) owning 1% or less of the outstanding common stock
of any corporation if such class of common stock is registered under Section 12 of the Securities Exchange Act of 1934, or (ii)
after the termination of his employment by the Company, being employed by or otherwise providing services to a corporation having
total revenue of at least $500 million (or such lower number as may be agreed by the Board) so long as such services are provided
solely to a division or other business unit of such corporation which does not engage in a business which is then competitive
with the business of the Company.

 

    	 	3	 

     

    

 

10.
Confidentiality. Executive hereby acknowledges that the Company has made and will make available to Executive certain customer
lists, product design information, performance standards and other confidential and/or proprietary information of the Company
or licensed to the Company, including without limitation trade secrets, copyrighted materials and/or financial information of
the Company (or any of its Affiliates), including without limitation, financial statements, reports and data (collectively, the
“Confidential Material”); however, Confidential Material does not include any of the foregoing items which
has become publicly known or made generally available through no wrongful act of Executive or of others who were under confidentiality
obligations as to the item or items involved. Except as essential to Executive’s obligations under this Agreement, neither
Executive nor any agent, employee, officer, or independent contractor of or retained by Executive shall make any disclosure of
this Agreement, the terms of this Agreement, or any of the Confidential Material. Except as essential to Executive’s obligations
under this Agreement, neither Executive nor any agent, employee, officer, or independent contractor of or retained by Executive
shall make any duplication or other copy of any of the Confidential Material. Immediately upon request from the Company, Executive
shall return to the Company all Confidential Material. Executive shall notify each person to whom any disclosure is made that
such disclosure is made in confidence and that the Confidential Material shall be kept in confidence by such person. Nothing contained
in this Section 10 shall be construed as preventing Executive from providing Confidential Material in compliance with a valid
court order issued by a court of competent jurisdiction, providing Executive takes reasonable steps to prevent dissemination of
such Confidential Material.

 

11.
Proprietary Information. For purposes of this Agreement, “Proprietary Information” shall mean any information,
observation, data, written material, record, document, software, firmware, invention, discovery, improvement, development, tool,
machine, apparatus, appliance, design, promotional idea, customer list, practice, process, formula, method, technique, trade secret,
product and/or research related to the actual or anticipated research, marketing strategies, pricing information, business records,
development, products, organization, business or finances of the Company. Proprietary Information shall not include information
in the public domain as of execution of this Agreement except through any act or omission of Executive. All right, title and interest
of every kind and nature whatsoever in and to the Proprietary Information made, discussed, developed, secured, obtained or learned
by Executive during the term of this Agreement shall be the sole and exclusive property of the Company for any purposes or uses
whatsoever, and shall be disclosed promptly by Executive to the Company. The covenants set forth in the preceding sentence shall
apply regardless of whether any Proprietary Information is made, discovered, developed, secured, obtained or learned (a) solely
or jointly with others, (b) during the usual hours of work or otherwise, (c) at the request and upon the suggestion of the Company
or otherwise, or (d) with the Company’s materials, tools, instruments or on the Company’s premises or otherwise. All
Proprietary Information developed, created, invented, devised, conceived or discovered by Executive that is subject to copyright
protection is explicitly considered by Executive and the Company to be works made for hire to the extent permitted by law. Executive
hereby forever fully releases and discharges the Company, and the Company and their respective officers, directors and employees,
from and against any and all claims, demands, damages, liabilities, costs and expenses of Executive arising out of, or relating
to, any Proprietary Information. Executive shall execute any documents and take any action the Company may deem necessary or appropriate
to effectuate the provisions of this Agreement, including without limitation assisting the Company in obtaining and/or maintaining
patents, copyrights or similar rights to any Proprietary Information assigned to the Company, if the Company, in their sole discretion,
requests such assistance. Executive shall comply with any reasonable rules established from time to time by the Company for the
protection of the confidentiality of any Proprietary Information. Executive irrevocably appoints the President of the Company
to act as Executive’s agent and attorney-in-fact to perform all acts necessary to obtain and/or maintain patents, copyrights
and similar rights to any Proprietary Information assigned by Executive to the Company under this Agreement if (a) Executive refuses
to perform those acts, or (b) is unavailable, within the meaning of any applicable laws. Executive acknowledges that the grant
of the foregoing power of attorney is coupled with an interest and shall survive the death or disability of Executive. Executive
shall promptly disclose to the Company, in confidence (a) all Proprietary Information that Executive creates during the term of
this Agreement, and (b) all patent applications, copyright registrations or similar rights filed or applied for by Executive within
six months after termination of this Agreement. Any application for a patent, copyright registration or similar right filed by
Executive within six months after termination of this Agreement shall be presumed to relate to Proprietary Information created
by Executive during the term of this Agreement, unless Executive can prove otherwise. Nothing contained in this Agreement shall
be construed to preclude the Company from exercising all of its rights and privileges as sole and exclusive owner of all of the
Proprietary Information owned by or assigned to the Company under this Agreement. The Company, in exercising such rights and privileges
with respect to any particular item of Proprietary Information, may decide not to file any patent application or any copyright
registration on such Proprietary Information, may decide to maintain such Proprietary Information as secret and confidential,
or may decide to abandon such Proprietary Information or dedicate it to the public. Executive shall have no authority to exercise
any rights or privileges with respect to the Proprietary Information owned by or assigned to the Company under this Agreement.

 

    	 	4	 

     

    

 

12.
Business Opportunities. During the term of this Agreement, if Executive (or any agent, employee, officer or independent
contractor of or retained by Executive) becomes aware of, or develops, creates, invests, devises, conceives or discovers, any
project, investment, venture, business or other opportunity (any of the preceding, an “Opportunity”) that is
similar to, competitive with, related to or in the same field as the Company, or any project, investment, venture, or business
of the Company, then Executive shall so notify the Company immediately in writing of such Opportunity and shall use Executive’s
good-faith efforts to cause the Company to have the opportunity to invest in, participate in or otherwise become affiliated with
such Opportunity.

 

13.
Miscellaneous.

 

13.1
Section Headings. The section headings or captions in this Agreement are for convenience of reference only and do not form
a part hereof, and do not in any way modify, interpret or construe the intent of the parties or affect any of the provisions of
this Agreement.

 

13.2
Survival. The obligations and rights imposed upon the parties hereto by the provisions of this Agreement which relate to
acts or events subsequent to the termination of this Agreement shall survive the termination of this Agreement and shall remain
fully effective thereafter, including without limitation the obligations of Executive with to any Confidential Material under
Section 11.

 

13.3
Severability. Should any one or more of the provisions of this Agreement be determined to be illegal or unenforceable in
any relevant jurisdiction, then such illegal or unenforceable provision shall be modified by the proper court, if possible, but
only to the extent necessary to make such provision enforceable, and such modified provision and all other provisions of this
Agreement shall be given effect separately from the provision or portion thereof determined to be illegal or unenforceable and
shall not be affected thereby; provided that, any such modification shall apply only with respect to the operation of this
Agreement in the particular jurisdiction in which such determination of illegality or unenforceability is made.

 

13.4
Waiver. The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver of any
such provision, nor prevent such party thereafter from enforcing such provision or any other provision of this Agreement. The
rights granted both parties herein are cumulative and the election of one shall not constitute a waiver of such party’s
right to assert all other legal remedies available under the circumstances.

 

13.5
Parties in Interest. Nothing in this Agreement, except as expressly set forth herein, is intended to confer any rights
or remedies under or by reason of this Agreement on any persons other than the parties to this Agreement and the successors, assigns
and affiliates of the Company, nor is anything in this Agreement intended to relieve or discharge the obligation or liability
of any third person to any party to this Agreement, nor shall any provision give any third
person any right of action over or against any party to this Agreement.

 

    	 	5	 

     

    

 

13.6
Assignment. The rights and obligations under this Agreement shall be binding upon, and inure to the benefit of, the heirs,
executors, successors and assigns of Executive and the Company. Except as specifically provided in this Section 14, neither the
Company nor Executive may assign this Agreement or delegate their respective responsibilities under this Agreement without the
consent of the other party hereto. Upon the sale, exchange or other transfer of substantially all of the assets of the Company,
the Company shall assign this Agreement to the transferee of such assets. No assignment of this Agreement by the Company shall
relieve the Company of, and the Company shall remain obligated to perform, its duties and obligations under this Agreement, including,
without limitation, payment of the Base Compensation set forth in Section 5, above.

 

13.7
Attorneys’ Fees. In the event of any Controversy, suit, action or arbitration to enforce any of the terms or provisions
of this Agreement, the prevailing party shall be entitled to its reasonable attorneys’ fees and costs. The foregoing entitlement
shall also include attorneys’ fees and costs of the prevailing party on any appeal of a judgment and for any action to enforce
a judgment.

 

13.8
Modification. This Agreement may be modified only by a contract in writing executed by the party (ies) to this Agreement
against whom enforcement of such modification is sought.

 

13.9
Prior Understandings. This Agreement contains the entire agreement between the parties to this Agreement with respect to
the subject matter of this Agreement, is intended as a final expression of such parties’ agreement with respect to such
terms as are included in this Agreement, is intended as a complete and exclusive statement of the terms of such agreement, and
supersedes all negotiations, stipulations, understandings, agreements, representations and warranties, if any, with respect to
such subject matter, which precede or accompany the execution of this Agreement.

 

13.10
Interpretation. Whenever the context so requires in this Agreement, all words used in the singular shall be construed to
have been used in the plural (and vice versa), each gender shall be construed to include any other genders, and the word “person”
shall be construed to include a natural person, a corporation, a firm, a partnership, a joint venture, a trust, an estate or any
other entity.

 

13.11
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

13.12
Applicable Law. This Agreement and the rights and obligations of the parties hereunder shall be construed under, and governed
by, the laws of the State of Delaware without giving effect to conflict of laws provisions.

 

13.13
Drafting Ambiguities. Each party to this Agreement has reviewed and revised this Agreement. Each party to this Agreement
has had the opportunity to have such party’s legal counsel review and revise this Agreement. The rule of construction that
any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or
of any amendments or exhibits to this Agreement.

 

[Signature
Page Follows]

 

    	 	6	 

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

 

	 	THE
    COMPANY:
	 	 
	 	LEADER
    CAPITAL HOLDINGS CORP.,
	 	a
    NEVADA corporation
	 	 	 
	 	By:	/s/
    Shui Fung Cheng
	 	Name:
    	Shui
    Fung CHENG
	 	Title:	Director

 

	 	EXECUTIVE:
	 	 
	 	/s/
    Yi-Hsiu     Lin
	 	Yi-Hsiu
    LIN

 

    	 	7

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