Document:

Exhibit 10.2

 

 

 

Employment Contract

 

This contract of employment
is entered into between HongKong Takung Assets and Equity of Artworks Exchange Co., Ltd. (hereinafter referred to as "Employer")
and Mr CHOW, Chun Hin Leslie (hereinafter referred to as "Employee") on February 22, 2016 under the terms and conditions
of employment below:

 

	 	1.	Commencement of Employment	Effective from February 22, 2016
	 	 	 	 
	 	2.	Probation Period	1 month (Employer
    can request an extension of  the probation period if working performance within probation period is considered as unsatisfactory).
	 	 	 	 
	 	3.	Position	Chief Financial Officer
	 	 	 	 
	 	4.	Place of Work	Office:  Room  03-04,  20/F,  Hutchison  House,  10
	 	 	 	Harcourt Road, Central, Hong Kong.
	 	 	 	 
	 	 	 	The Employee will be required to report duty and to perform his/her work at the Office or at such other places or locations to be designated to the Employee from time to time or as the circumstances may require.
	 	 	 	 
	 	5.	Normal Working Hours	
        5 days per week, 8 hours per day from 8:30
        am to 5:30 pm

         

        The Employee is required to work at such
        times and for such periods as the efficient and conscientious discharge of his/her duties requires. If it finds necessary due to
        bank clearing or event happen beyond the Employer's control, the Employee is required to work overtime. Unless otherwise approved
        by the Employer, there will not be any additional payment or allowance for overtime work.

         

        The Employer reserves the right to alter
        the Employee's working hours and rest days if it finds necessary. The Employee understands and agrees to such arrangement.

        

	 	 	 	 
	 	6.	Meal Break working	
        From 12:00 pm to 1:00 pm Meal
break is not counted as hour and is without pay.

	 	 	 	 

 

 

    	 

     

    

 

 

 

 

	 	7.	Rest Days	Saturdays and Sunday
	 	 	 	 
	 	8.	Salary	HK$45,000 per month
	 	 	 	 
	 	9.	Double pay	You are entitled to participate in the Company year end double pay scheme. The double pay period shall be 1st January to 31st December every year. If this is your first year of employment, your double pay entitlement will be calculated on a pro-rata basis on the number of days between the Commencement Date to 31st December; otherwise it will be calculated as per the aforementioned full calendar year double pay period.
	 	 	 	 
	 	10.	Holidays	The Employee is entitled to statutory holidays with pay.
	 	 	 	 
	 	11.	Annual Leave	The Employee is entitled to 20 days of paid annual leave at such time to be agreed with the Employer.
	 	 	 	 
	 	12.	Sickness Allowance	The Employee is entitled to sickness allowance according to the provisions of the Employment Ordinance.
	 	 	 	 
	 	13.	Termination of Employment Contract	
        a.During the probation period, either
        party may give to the other seven (7) days' notice in writing or seven (7) days' salary in lieu thereof to terminate the employment.

         

        b.After probation, either party may
        give to the other one (1) month's notice in writing or one (1) month's' salary in lieu thereof to terminate the employment. After
        service of such notice of termination, no annual leave may be taken by the Employee before the actual date of termination of the
        employment.

        

	 	 	 	 
	 	14.	Confidentiality	The Employee shall not at any time whether during employment or at any time thereafter except so far as is necessary and proper in the ordinary course of employment make public or disclose to any person any information as to the Employer's practice business dealings affairs or other information which may come to his/her knowledge in the course of his/her employment.

 

 

    	 

     

    

 

 

 

	 	15.	Work Arrangements during Typhoon	
        The Employee is not required to work when
        typhoon signal no.8 or above is hoisted and no salary will be deducted during the period. The Employee is required to resume duty
        if the typhoon signal no.8 is lowered before 4:00pm. The Employee is required to return to work within 2 hours after cancellation
        of typhoon signal no.8.

        

	 	 	 	 
	 	16.	Rainstorm  Warning	
        The Employee is not required to work when
        black rainstorm warning is hoisted and no salary will be deducted during the period. The Employee is required to resume duty if
        the black rainstorm warning is cancelled before 4:00pm. The Employee is required to return to work within 2 hours after cancellation
        of black rainstorm warning.

        

	 	 	 	 
	 	17.	Others	
        The Employee is entitled to all other rights,
        benefits or protection under the Employment Ordinance, the Minimum Wage Ordinance, the Mandatory Provident Fund Schemes Ordinance,
        the Employees’ Compensation Ordinance and any other relevant Ordinances.

        

 

 

The Employer and the Employee hereby declare
that they understand thoroughly the above provisions and agree to sign to abide by such provisions. They shall each retain a copy
of this contract for future reference. If there is any inconsistency or conflict between Chinese
and English version, the Chinese version shall prevail.

 

The Employee understands
that he/she is entitled to seek independent legal advice before signing this contract.

 

	Signature of Employee	 	Signature of Employer or Employer's Representative
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	
        Name in full : CHOW, Chun Hin Leslie

 HK
        I.D. No : Z347865(4)

        Date : Feb 22, 2016

        
	 	
        Name in full : XIAO, Di 

Position held : CEO 

Date : Feb 22, 2016

	 	 	 
	 	 	Chop of the CompanyExhibit

EXHIBIT 10.23
SUMMARY OF COMPENSATION ARRANGEMENTS FOR NON-EMPLOYEE DIRECTORS
The following is a description of the standard arrangements pursuant to which directors of SM Energy are compensated for services provided as a director, including additional amounts payable for committee participation:

DIRECTOR COMPENSATION
Employee directors do not receive additional compensation for serving on the Board of Directors or any committee.  

For service in 2015 - 2016 as it relates to the period from May 2015 through May 2016, target compensation for each member of the Board of Directors has been set at $180,000 annually, plus a retainer paid in lieu of committee and attendance fees.  As described more fully below, the actual value of compensation may be higher or lower depending on the results of the restricted stock component of director compensation.  Primary director compensation is in the form of stock grants and is fully described below.  The retainer component of director compensation for non-employee directors consists of an annual retainer of $90,000 for committee and board meeting fees paid in SM Energy common stock or cash as selected by the director; provided that in the event any director attends in excess of 30 Board and committee meetings in the aggregate during the period from May 2015 through May 2016, such director shall receive $1,500 per meeting for each meeting in excess of 30.  In addition, each non-employee director is reimbursed for expenses incurred in attending Board and committee meetings and director education programs.
The committee chairs receive the cash payments identified in the list below in recognition of the additional workload of their respective committee assignments.  These amounts are paid at the beginning of the annual service period.        
		
	•
	Audit Committee - $20,000

		
	•
	Compensation Committee - $15,000

		
	•
	Nominating and Corporate Governance Committee - $10,000

The stock compensation for non-employee directors is as follows:
		
	1)
	Annual compensation payable upon election to the Board by the stockholders, valued at $180,000.  This resulted in a grant of restricted stock to each non-employee director of 3,308 shares of SM Energy common stock issued on May 20, 2015, under SM Energy's Equity Incentive Compensation Plan.  These shares are earned over the one-year board service period and carry a subsequent six month transfer restriction imposed by SM Energy.

		
	2)
	A retainer for the Non-Executive Chairman of the Board valued at $85,000.  This resulted in a grant of 1,562 shares of SM Energy common stock issued on May 20, 2015, under SM Energy's Equity Incentive Compensation Plan.  These shares are earned over the one-year board service period and carry a subsequent six month transfer restriction imposed by SM Energy.  

		
	3)
	Steven R. Brand, William J. Gardiner, Loren M. Leiker, Julio M. Quintana, Rose M. Robeson and William D. Sullivan each elected to receive SM Energy common stock for 

their retainer, which resulted in a grant of 1,654 shares of SM Energy common stock issued on May 20, 2015, under SM Energy's Equity Incentive Compensation Plan.  These shares are earned over the one-year Board service period and carry a subsequent six month transfer restriction imposed by SM Energy.  Larry W. Bickle and Ramiro G. Peru each elected to receive a $90,000 cash payment for their retainer.Exhibit

EXHIBIT 10.29
AMENDMENT NO. 3 
TO THE
PENSION PLAN FOR EMPLOYEES OF 
SM ENERGY COMPANY

WHEREAS, SM Energy Company (the “Company”) maintains the Pension Plan for Employees of SM Energy Company (the “Plan”) for the benefit of certain of its employees; and

WHEREAS, the Plan has been amended from time to time and was most recently amended and restated in its entirety, effective January 1, 2010; and

WHEREAS, pursuant to the authority in Section 10.1 of the Plan, the Plan may be amended at any time and from time to time; and

WHEREAS, the Administrative Committee of the Plan has recommended to the Board of Directors of the Company to amend the Plan’s eligibility provisions to provide that no individual will be eligible to participate effective on and after January 1, 2016, and the Company desires to make such change at this time.

NOW, THEREFORE, effective January 1, 2016, the Plan is amended as hereinafter set forth:

Section 2.2 of the Plan is hereby amended in its entirety to provide as follows:

2.2    ELIGIBILITY TO PARTICIPATE.
		
	(a)
	Each Employee who was an Active Participant immediately prior to the Effective Date and is a Covered Employee on the Effective Date will continue to be an Active Participant as of the Effective Date.

		
	(a)
	Each other Employee will become an Active Participant on the first day of the calendar month coincident with or next following the date on which such Employee attains Age 21 and completes one Year of Eligibility Service, if then a Covered Employee.

		
	(b)
	A Participant (or a former Participant) who has a Separation from Service and who is later reemployed as a Covered Employee will become an Active Participant as of the date on which he or she first again completes an Hour of Service as a Covered Employee, but, if he or she has had a Break in Service, only if he or she (1) had any vested interest in his or her Accrued Benefit as of the prior Separation from Service or (2) again completes one Hour of Service at a time when the consecutive Breaks in Service do not equal or exceed the greater of five, or the number of Years of Eligibility Service credit prior to the Break in Service.

    
Amendment No. 3 to the Pension Plan for Employees of SM Energy Company    12/2015       1
Prepared by Holland & Hart LLP 

		
	(c)
	If an individual is not a Covered Employee on the date on which the individual would otherwise become an Active Participant (but for the fact that such individual is not then a Covered Employee), such individual will become an Active Participant as of the first date thereafter on which the individual becomes a Covered Employee; but, if there was a Break in Service, only if the individual (1) had any vested interest in his or her Accrued Benefit as of the prior Separation from Service or (2) again completes one Hour of Service at a time when his or her consecutive Breaks in Service do not equal or exceed the greater of five, or the number of Years of Eligibility Service prior to the Break in Service.

		
	(d)
	Notwithstanding the above, effective January 1, 2016, the Plan is frozen with respect to participation.  Accordingly, Employees hired on and after January 1, 2015 will not be eligible to participate in the Plan.  

IN WITNESS WHEREOF, SM Energy Company has caused this Amendment No. 3 to be executed this 28th day of December, 2015 by a duly authorized officer of the Company.

SM ENERGY COMPANY

By:  /s/ John Monark

Title:  Senior Vice President – Human Resources

    
Amendment No. 3 to the Pension Plan for Employees of SM Energy Company    12/2015       2
Prepared by Holland & Hart LLP

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