Document:

Exhibit 10.10

 

 

 

February 15, 2019

 

VIA EMAIL

Alfred P. Poor

alf.poor@gmail.com

 

Offer of Employment

 

Dear Mr. Poor:

 

Ideanomics,
Inc. (Nasdaq:IDEX) (the “Company”) is pleased to make this offer of employment to you as Chief Executive Officer (“CEO”).
If you accept the offer contained in this agreement (“Employment Agreement”, or “Agreement”), your employment
will be effective according to the date of this document (the “Effective Date”) and subject to the terms and conditions
set forth below.

 

		1.	Job Duties

 

As Chief Executive
Officer, you will report to the Board of Directors of the Company. Your primary job duties will include setting the strategy and
direction of the company, formulating and leading the implementation of tactical and financial goals and objectives worldwide and
allocating its human and financial resources in a manner that the company can achieve profitable growth. All employees in the Company
report to you either directly or through management that reports to you. In that regard, you are to build a coherent corporate
culture and team in full compliance with the needs of a publically traded equity. This includes creating operations strategies
and policies, organizational planning, corporate governance, communicating operational strategies to employees, building employee
alignment with company goals and overseeing human resource development. In light of your anticipated job duties, compensation,
exercise of discretion, and advanced knowledge required of your position, you will be exempt from federal and state overtime wage
requirements. The principal place of your employment will be the Company’s offices in New York, NY. However, you will be
required to travel to other locations in connection with the performance of your job duties.

 

		2.	Compensation

 

Base Salary.
The Company shall pay you an initial Base Salary of Three Hundred Thousand Dollars annually ($300,000), less all required withholdings
and deductions, payable in accordance with the Company’s regular payroll policies (the “Base Salary”). The Base
Salary shall be subject to review from time to time depending upon your job performance and that of the Company, however, if the
Company achieves two consecutive quarters in Profits from Operations as defined in the Company’s financial statements, your
Base Salary shall immediately be raised to Four Hundred Thousand Dollars annually ($400,000). Your Base Salary shall not be decreased
without your consent.

 

Cash
Performance Incentive. In addition to the Base Salary, you shall be eligible to receive performance-related cash incentives
based on performance objectives mutually agreed by the Compensation Committee of the Company and yourself within the next 60 days.
The performance objectives and the corresponding cash incentive will be an amendment to this agreement and the performance objectives
relevant for your bonuses shall be discussed with you and agreed upon between the Company and you. In future years, such amendments
will be set no later than 60 days for prior to the end of the calendar year. The Company anticipates that any annual-based performance
bonuses, if issued, shall be paid within sixty (60) days from the end of the bonus year, and in no event later than March
15 of the year following the bonus year. All performance bonuses paid pursuant to this paragraph shall be less all required withholdings
and deductions.

 

    55
                                         Broadway, 19th Floor New York, NY 10006 | www.ideanomics.com | @ideanomicshq

     

    

  

Equity Compensation.
You will receive initial Company stock options in our Nasdaq listed equity for up to two million shares (2,000,000), depending
on the your continued functioning in the position of CEO on the following schedule:

 

		a)	Stock options on 200,000 shares of Company stock fully-vested 60 days from the effective date of this agreement

		b)	Stock options on 800,000 shares, 1/12th of the
that amount vesting monthly for each of the succeeding 12 months

		c)	Stock options on 1,000,000 shares 1/12th of the
that amount vesting monthly for the 12 months succeeding the previous award

 

The option price shall be based
on the closing of IDEX stock as of the Effective Date of this agreement . Certificates for each of the three components of vested
stock will be provided to you at the end of each of the three periods indicated above.

 

		3.	Term of Employment

 

This offer of
employment is for two (2) years beginning from the date of this Agreement (the “Term”), subject to the termination
rights below. The Company promises to employ you during the Term, subject to its rights to terminate this Agreement at an earlier
date as set forth herein. You, in turn, promise to devote your full business time and efforts to the performance of your job duties
during the Term, subject to your rights to terminate this Agreement at an earlier date as set forth herein. The Term and the terms
of this Agreement shall automatically continue unless you and the Company agree otherwise in a written document (excluding e-mail)
signed by both parties.

 

		4.	Termination of this Agreement

 

Either you or the Company may terminate this
Agreement at any time. In the event that the Company terminates this Agreement without “Cause,” it shall pay to you
(i) your then-Base Salary through the remainder of the Term, or renewal Term, as the case may be, plus the sum of your prior year’s
performance bonuses divided by twelve (12) and multiplied by the months remaining on the Term; (ii) the estimated cost of you
continuing your health insurance benefits pursuant to COBRA, if eligible, for a period of twelve (12) months following your termination
of employment. Whether and to the extent you are granted any deferred compensation or unvested equity that would vest during the
initial Term but-for your termination without “Cause,” all such awards shall immediately accelerate and vest and be
payable to you upon your termination without “Cause.” Any Base Salary payments owed to you because of a termination
of employment without “Cause” shall be paid to you in accordance with the Company’s regular payroll practices.
In the event that you terminate this Agreement before the end of the Term or the Company terminates this Agreement with “Cause,”
the only monetary compensation to which you shall be entitled from the Company shall be the Base Salary for your work performed
through the date of termination of this Agreement.

 

For purposes
of this Agreement, the Company shall have “Cause” to terminate this Agreement if, in the Company’s reasonable
discretion: (a) you willfully fail to comply with a reasonable directive of the BOD and fail to cure such willful non-compliance
within thirty (30) days of the Company’s notice of your willful non-compliance, provided such willful non-compliance is curable;
(b) you are convicted of, or plead guilty or nolo contendre to, a felony or any crime involving fraud or dishonesty or which
has an adverse effect upon the Company’s reputation or business; (c) you engage in any act of fraud, dishonesty, or embezzlement;
or (d) the Company determines in its reasonable discretion that you violated a securities law or related regulation; or (e) you
materially breach this Agreement and fail to cure such material breach within thirty (30) days of the Company’s notice of
such breach, provided such breach is curable.

 

    55
                                         Broadway, 19th Floor New York, NY 10006 | www.ideanomics.com | @ideanomicshq

     

    

 

In
the event you terminate this Agreement before the end of the Term, you promise to give the Company at least sixty (60) days’
notice of your decision. In exchange, the Company shall continue to pay you your Base Salary during the sixty (60) day notice period.
However, you understand and agree that the Company shall have the right to unilaterally reduce or waive any portion of the sixty
(60) day notice period and accelerate your final date of employment following notice of your decision to terminate this Agreement.
You further acknowledge and agree that your failure to comply with the sixty (60) day notice period shall constitute a material
breach of this Agreement in light of your substantial responsibilities for the Company.

 

		5.	Benefits

 

You shall be
eligible for such employee benefits that the Company provides to its senior executives, subject to any waiting time periods or
other limitations set forth in the policy or plan document governing each benefit. You will receive additional information regarding
some of these employee benefits in the mail. These employee benefits include:

 

		·	Paid
national holidays

		·	15
days paid vacation

		·	Paid
sick leave according to state requirements

		·	Group
health insurance

		·	Paid
family leave according to state requirements

 

Per Company
policy, advance authorization is required for all employees’ use of paid vacation time. Accordingly, you must notify the
Company in advance of your intent to use paid vacation time. Generally, the Company will not approve any employee request for more
than two (2) consecutive weeks of paid vacation. There will be no payment for unused paid vacation upon the end of your employment
with the Company, and paid vacation may not be carried over into a new calendar year without the approval of the BOD.

 

		6.	Confidential Information

 

Except as
authorized or directed by the Company in connection with the performance of your duties and obligations, or as provided below,
you will not, at any time either during your employment or after your employment ends for any reason, directly or indirectly, disclose,
use, or make available to any other person or entity any Confidential Information that has come into your possession, custody,
or control in the course of your employment with the Company, and you will not use any such Confidential Information for your own
personal use or advantage or the use or advantage of any person or entity other than the Company, or make any such Confidential
Information available to others.

 

    55
                                         Broadway, 19th Floor New York, NY 10006 | www.ideanomics.com | @ideanomicshq

     

    

 

For purposes
of this confidentiality obligation, “Confidential Information” means all confidential information, proprietary information,
trade secrets, or other information (whether oral or written) regarding the business or affairs of the Company, the Company’s
affiliates, or any of the Company’s clients or business partners, including, without limitation, information as to any of
the Company’s products; services; systems; designs; inventions; finances (including prices, costs, and revenues); marketing
plans; sales; sales strategies; prospects; pricing; pricing strategies; investments; investment strategies and methodologies; portfolio
management strategies; programs; methods of operation; prospective and existing contracts; customer lists and other business arrangements,
business plans, procedures, and strategies; costs; profits; databases; personnel (including but not limited to personal information
about employees, members, partners, and agents of the Company and its affiliates); operational methods; financial models; potential
transactions; pending negotiations; computer programs; algorithms; pending patent applications; systems; contractual negotiations;
terms of agreements; client lists; customer lists; investor lists; lists of potential clients, customers, and/or investors; financial
results; business developments; internal controls; and security procedures. Confidential Information also includes the performance
track record of all investments and other transactions in which the Company participates during your employment, which is the sole
and exclusive property of the Company. Confidential Information does not include: (a) information that has been lawfully and without
breach of obligation made available to the general public without restriction; (b) information that, by way of documentary evidence,
you can demonstrate was previously known to you prior to your affiliation with the Company; or (c) information for which you receive
express written authorization from the Company to possess after your employment with the Company ends. The foregoing is not an
exhaustive list, and Confidential Information also may include, without limitation, any other information, documents or materials
that may be identified as confidential or proprietary, or which would otherwise appear to a reasonable person, in the context in
which the information, documents or materials are received, provided or learned, to be confidential. This letter will also be treated
as Confidential Information; provided you may keep a personal copy of this letter, and may disclose the contents of this
letter to a personal attorney, financial advisor or tax accountant, or, solely with respect to restrictive covenants, a prospective
employer.

 

Notwithstanding
anything herein to the contrary, nothing in this letter, or any other agreement or policy of the Company will prevent you from
sharing any Confidential Information or other information with regulators or appropriate governmental agencies, including but not
limited to governing taxing authorities, whether in response to a subpoena or otherwise, without notice to the Company, or responding
to any other lawful subpoena or legal process, provided in such case, unless otherwise prohibited by law or court order or decree,
you provide the Company with reasonable notice of such subpoena or legal process. You hereby are notified that the immunity provisions
in Section 1833 of title 18 of the United States Code provide that an individual cannot 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 federal, state or
local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating
a suspected violation of the law, (b) under seal in a complaint or other document filed in a lawsuit or other proceeding, or (c)
to your attorney in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret
may be used in the court proceedings for such lawsuit) as long as any document containing the trade secret is filed under seal
and the trade secret is not disclosed except pursuant to court order.

 

Upon termination
of your employment with the Company for any reason, you promise to deliver to the Company all property, proprietary materials,
Confidential Information, documents, and computer media in any form (and all copies thereof) relating or belonging to the Company
or any Company affiliate, including the Company’s clients or business partners, that is in your possession.

 

		7.	Non-Competition Promise

 

In
consideration for the offer of employment described within this letter, you promise not to, directly or indirectly, on behalf of
yourself or any other person or entity, engage in “Competitive Activities” during the “Restricted Period.”
For purposes of this non-competition obligation, “Competitive Activities” means any activity (whether or not
for compensation and whether as an owner, employee, contractor, agent, or in any other capacity) engaged in or related to blockchain-based global financial technology
and financial asset digitization services in any State within the United States, Hong Kong, or other geographic region in which
the Company conducted business at any time during your employment. For purposes of this non-competition obligation, “Restricted
Period” means any period for which you receive the Base Salary pursuant to this Agreement and two (2) months after your employment
at the Company ends for any reason.

 

    55
                                         Broadway, 19th Floor New York, NY 10006 | www.ideanomics.com | @ideanomicshq

     

    

 

The Company
may elect to waive or shorten this non-competition obligation, but you acknowledge that such waiver or shortening of this non-competition
obligation must be set forth in a signed writing (excluding e-mail) executed by a duly authorized Company officer. Notwithstanding
anything to the contrary, (a) your ownership or investment of any entity that is engaged in Competitive Activities shall not constitute
a breach of this non-competition obligation, provided such ownership or investment is limited to five percent (5%) or less of such
entity’s outstanding shares, and (b) you shall not be precluded from devoting reasonable periods of time to charitable and
community activities, managing your personal investments and serving on boards of businesses not in competition with the Company.

 

		8.	Non-Solicitation Promises

 

In further consideration
for the offer of employment described within this letter, you promise not to, directly or indirectly, on behalf of yourself or
any other person or entity, during your employment and for a period of six (6) consecutive months immediately following the termination
of your employment for any reason, solicit any actual or potential client, investor, or business partner of the Company for the
purpose of performing any services that the Company also performed during your employment with the Company. For purposes of the
non-solicitation obligation described within this paragraph, a potential client, investor, or business partner of the Company shall
mean any person or entity that the Company solicited for business during your final two (2) years of employment with the Company,
unless you had a preexisting business relationship prior to joining the Company.

 

In further consideration
for the offer of employment described within this letter, you promise not to, directly or indirectly, on behalf of yourself or
any other person or entity, during your employment and for a period of twelve (12) months following the termination of your employment
for any reason, solicit any employee, officer, contractor, or other agent of the Company to terminate his or her business relationship
with the Company; provided that this non-solicitation obligation shall not apply to any employee, officer, contractor, or other
agent of the Company who did not have a business relationship with the Company at any time during your final six (6) months of
employment with the Company, unless you had a preexisting business relationship with such person or introduced such person for
hire by the Company.

 

		9.	Non-Disparagement

 

You agree not
to disparage the Company, its officers and owners, or its clients and business partners in any way during or after your employment
with the Company. This non-disparagement obligation prohibits you from making any statement that would or is reasonably likely
to defame, criticize, malign, or in any way be materially and financially harmful to the business reputation of the foregoing entities
or individuals. Notwithstanding the foregoing, nothing herein shall prohibit you from testifying or responding in good faith to
any subpoena or other legal process, provided that you provide reasonable advance notice to the Company of your receipt of such
subpoena or other legal process.

 

    55
                                         Broadway, 19th Floor New York, NY 10006 | www.ideanomics.com | @ideanomicshq

     

    

 

		10.	Reasonableness of Promises; Injunctive Relief

 

You acknowledge
and agree that the promises set forth in Sections 6, 7, 8, and 9 of this letter are reasonable and narrowly tailored to protect
the Company’s legitimate business interests, including the Company’s interests in protecting the competitive advantage
it derives from its Confidential Information and customer good will. Accordingly, in the event you breach or threaten to breach
one or more of the promises in Sections 6, 7, 8, or 9 of this Agreement, you acknowledge and agree that the Company shall be entitled
to injunctive relief from a court of competent jurisdiction enjoining such actual or threatened breach, in addition to any other
remedy available at law or equity. You further acknowledge that the promises in Sections 6, 7, 8, and 9 of this letter shall survive
termination of your employment relationship. You further agree that in the event of a legal action to enforce this Agreement, the
prevailing party shall be entitled to reimbursement by the non-prevailing party for its costs associated with such legal action,
including the prevailing party’s reasonable attorneys’ fees.

 

		11.	Inventions

 

You agree
that any and all improvements, inventions, discoveries, developments, creations, processes, methods, designs, and works of
authorship, and any documents, things, or information relating thereto, whether patentable or not, within the scope of or
pertinent to your primary job duties (as described in Section 1 above) or your other performance of work for the Company,
which you may conceive, make, author, create, invent, develop, or reduce to practice, or which you previously have conceived,
made, authored, created, invented, developed, or reduced to practice, in whole or in part, during your employment with the
Company, whether alone or with others, whether during or outside of normal working hours, whether inside or outside of the
Company’s offices, and whether with or without the use of the Company’s computers, systems, materials, equipment,
or other property, will be and remain the sole and exclusive property of the Company (the foregoing, individually and
collectively, “Work Product”). To the maximum extent allowable by law, any Work Product subject to
copyright protection will be considered “works made for hire” for the Company under U.S. copyright law. To the
extent that any Work Product that is subject to copyright protection is not considered a work made for hire, or to the extent
that you otherwise have or retain any ownership or other rights in any Work Product (or any intellectual property rights
therein), you hereby assign and transfer to the Company all such rights in the Work Product, including but not limited to the
intellectual property rights therein, effective automatically as and when such Work Product is conceived, made, authored,
created, invented, developed, or reduced to practice. The Company will have the full right to use, assign, license, and/or
transfer all rights in, with, to, or relating to Work Product (and all intellectual property rights therein). You will,
whenever requested to do so by the Company (whether during your employment or thereafter), at the Company’s expense,
execute any and all applications, assignments, and/or other instruments, and do all other things (including giving
testimony in any legal proceeding) which the Company may deem necessary or appropriate in order to (a) apply for, obtain,
maintain, enforce, or defend patent, trademark, copyright, or similar registrations of the United States or any other country
for any Work Product, (b) assign, transfer, convey, or otherwise make available to the Company any right, title, or interest
which you might otherwise have in any Work Product, and/or (c) confirm the Company’s right, title, and interest in any
Work Product. You will promptly communicate, disclose, and, upon request, report upon and deliver all Work Product to the
Company, and will not use or permit any Work Product to be used for any purpose other than on behalf of the Company, whether
during your employment or thereafter.

 

    55
                                         Broadway, 19th Floor New York, NY 10006 | www.ideanomics.com | @ideanomicshq

     

    

 

		12.	Business Related Expense Reimbursements

 

You may occasionally
incur business related expenses in the course of your job duties. Your permitted business expenses include: (a) your travel expenses
related to the performance of your job duties; and (b) reasonable expenses related to the entertainment of clients or other potential
business partners of the Company. However, you understand that all business expenses are subject to review, and the Company reserves
the right to deny a business expense reimbursement request in the event it reasonably determines that the expense was not related
to your job duties. The Company will reimburse you for an appropriate business-related expense, provided you submit proof of payment
and details concerning the expense in a timely manner, and in no event later than sixty (60) days after the expense was incurred.
Violation of this policy may result in the denial of an expense reimbursement request. In the event you intentionally submit a
false expense reimbursement request, you shall be subject to disciplinary action, up to and including immediate termination of
employment for “Cause.” Duly submitted reimbursement requests are typically processed within thirty (30) days of submission.

 

		13.	No Conflicts

 

By signing below,
you represent to the Company that you are not presently subject to any obligation that would otherwise prohibit you from performing
the above-referenced job duties for the Company, such as a non-competition promise or other restrictive covenant. You further represent
to the Company that you are not in possession of any confidential or proprietary information belonging to any entity or person
that directly or indirectly competes with the Company.

 

		14.	Dispute Resolution

 

Should any dispute
arise between you and the Company or any Company affiliate regarding any aspect of your employment relationship, you and the Company
or the Company affiliate will confer in good faith to promptly resolve such dispute. In the event that you and the Company or the
Company affiliate are unable to resolve the dispute, and should either party to the dispute desire to pursue a claim against the
other party, both you and the Company or the Company affiliate agree to have the dispute resolved by final and binding Arbitration
held in New York County, New York. The Arbitration shall be conducted by JAMS or the American Arbitration Association and provided
by an impartial third-party Arbitration provider in accordance with the employment dispute rules then in effect. All previously
unasserted claims arising under federal, state, or local statutory or common law and all disputes relating to the validity of this
contract, as well as this Arbitration provision, shall be decided by binding and final arbitration. Any award of the Arbitrator(s),
is final and binding, and may be entered as a judgment in any court of competent jurisdiction. The prevailing party shall be entitled
to reimbursement of his/its related costs, including reasonable attorneys’ fees, from the non-prevailing party. Notwithstanding
the foregoing, nothing in this letter shall prohibit either party from applying to a court of competent jurisdiction (instead of
an arbitrator) for injunctive relief to enjoin an actual or threatened breach of each other’s obligations set forth in this
letter.

 

		15.	Severability

 

You acknowledge
and agree that in the event any court or arbitrator of competent jurisdiction determines that one or more of the provisions of
this letter is unenforceable, such court or arbitrator shall be entitled to equitably reform such unenforceable provision so that
the provision is given its maximum affect permitted under applicable law. Each provision of this letter is severable from other
provisions hereof, and if one or more provisions are declared invalid, the remaining provisions shall nevertheless remain in full
force and effect.

 

    55
                                         Broadway, 19th Floor New York, NY 10006 | www.ideanomics.com | @ideanomicshq

     

    

 

		16.	Prior Agreements

 

You acknowledge
and agree that this document replaces and supersedes any previous offer of employment to you by the Company (whether oral or in
writing), and sets forth the parties’ entire understanding regarding the subject matter described herein. By signing below,
you are not relying upon any representation or promise that is not explicitly set forth within this letter.

 

		17.	Governing Law

 

You agree that
this letter and your employment with the Company shall be governed by the laws of the State of New York. Any legal proceeding arising
from dispute related to your employment with the Company must be commenced within New York County, New York.

 

		18.	Miscellaneous

 

You acknowledge
that this letter is the product of arms-length negotiations between you and the Company and, therefore, neither you nor the Company
will be considered the drafter of this letter. This letter may be executed in one or more counterparts, each of which shall constitute
an original. Original signatures shall not be required.

 

If these terms
are agreeable to you, please sign and date this letter and return it to Shane McMahon, Vice Chairman of the Board of Ideanomics.

 

	Sincerely,
	 
	Shane McMahon
	Vice Chairman of the Board
	 
	/s/ Shane McMahon

 

I understand that this offer of
employment is contingent upon proof of my employment eligibility in the United States.

 

	Accepted and Agreed:	 
	 	 
	 	 
	Alfred P. Poor	 
	 	 
	 	 
	Date	 

 

    55
                                         Broadway, 19th Floor New York, NY 10006 | www.ideanomics.com | @ideanomicshqExhibit 10.11

 

GENERAL
RELEASE AND COVENANT NOT TO SUE

 

This
General Release and Covenant Not To Sue (the “Agreement”) is entered into by Brett McGonegal (“McGonegal”)
and Ideanomics, Inc. (formerly known as Seven Stars Cloud Group, Inc.) (the “Company”). McGonegal and the Company hereby
agree that McGonegal’s last day of employment with the Company was February 12, 2019 (the “Separation Date”).
McGonegal and the Company further hereby agree as follows:

 

		1.	Consideration.
                                         McGonegal and the Company are entering into this Agreement in order to provide
                                         McGonegal severance payments and ensure that McGonegal commences no legal claims or proceedings
                                         against the Company. In consideration for the parties’ execution of this Agreement
                                         and promises to comply with its terms, the Company and McGonegal agree as follows:

 

		(a)	McGonegal and the Company are parties to an employment offer letter dated September 24, 2018 and signed by McGonegal on October
1, 2018 (the “Offer Letter”);

 

		(b)	The Company shall pay McGonegal all accrued and unpaid salary through the Separation Date which
is January 1, 2019 to February 12, 2019 at McGonegal's annual salary of $500,000, in the amount of $62,500;

 

		(c)	The Company will pay severance payments, totaling $200,000, in two (2) installments payable as $100,000 per each payment beginning
on the date one month from the effective date of this agreement and then, the second payment of $100,000 on or before April 12,
2019;

 

		(d)	Upon the effective date of this Agreement, the Company shall pay McGonegal’s attorneys, Sack & Sack, LLP, $100,000.

 

		(e)	The Company shall reimburse McGonegal for $60,535.10 in business expenses incurred in the furtherance of the business of the
Company during his employment; and

 

		(f)	McGonegal agrees that aside from the consideration set forth in this Section 1, he shall not be eligible for and he shall not
receive any other payments or benefits from the Company.

 

		2.	No
                                         Consideration Absent Execution of this Agreement. McGonegal understands
                                         and agrees that he is not entitled to and would not receive the consideration described
                                         in Section 1 above except for his execution of this Agreement and his fulfillment of
                                         the promises contained herein. McGonegal also acknowledges and agrees that the consideration
                                         set forth in Section 1 is adequate and sufficient consideration for all of his obligations
                                         under this Agreement.

 

     

     

    

 

		3.	General
                                         Release.

 

(a)       In
consideration of the benefits described above in Section 1, McGoncgal agrees that, to the extent such release and discharge are
permitted by law, he and his heirs, legal representatives and assigns hereby knowingly and voluntarily waive, release and forever
discharge, and will not file or cause to be filed against the Company, or any of its current of former directors, officers, owners,
employees, agents, affiliates, assigns, predecessors and successors (collectively referred to in this paragraph and Paragraphs
4(a) and 6 hereof as the “Company Releasees”) any claim, lawsuit, complaint or charge, whether known or unknown, asserted
or unasserted, suspected or unsuspected, that McGonegal may have as a result of any incident, act, event or omission, whether or
not related to his employment or separation from employment with the Company, that has occurred at any time from the beginning
of the world up to and including the date of his signing of this Agreement. McGonegal agrees that among the rights he knowingly
and voluntarily waives and releases, to the extent such waiver, release and discharge are permitted by law, are his right to bring
any complaints or charges against the Company arising on or before the date of his signing of this Agreement, under Title VII of
the Civil Rights Act, the Age Discrimination in Employment Act (including the amendments of the Older Workers Benefit Protection
Act of 1990), the Employee Retirement Income Security Act, the Americans with Disabilities Act, the Family and Medical Leave Act,
the New York State Human Rights Law, the New York City Human Rights Law, and any federal, state or local law dealing with discrimination
on any basis, including but not limited to sex, age, race, national origin, sexual orientation, veteran status, marital status,
religion, and physical and/or mental disability. McGonegal also agrees that he is waiving and releasing all rights to bring any
claims, lawsuits, complaints or charges against the Company Releasees alleging unpaid wages, unpaid commissions, unpaid bonuses,
accrued vacation pay, breach of contract, breach of the implied covenant of good faith and fair dealing, wrongful termination,
violation of public policy, failure to accommodate, misrepresentation, defamation, infliction of emotional distress or any other
possible claim arising or related to any incident, act, event or omission that has occurred at any time on or before the date of
McGonegal's signing of this Agreement. Nothing herein shall prohibit or prevent McGonegal from filing any complaint, claim or charge
with any federal, state or local government agency or administrative agency, provided, however, that McGonegal does not seek, accept
or receive any monetary damages or payments arising from or related to any such complaint, claim or charge.

 

(b)       In
consideration of the benefits described above in Section 1, the Company agrees that, to the extent such release and discharge are
permitted by law, it and any of its current of former directors, officers, owners, employees, agents, affiliates, assigns, predecessors
and successors (collectively referred to in this paragraph and Paragraph 4(b) as the “Company Releasors”) hereby knowingly
and voluntarily waive, release and forever discharge, and will not file or cause to be filed against McGonegal, any claim, lawsuit,
complaint or charge, whether known or unknown, asserted or unasserted, suspected or unsuspected, that the Company may have as a
result of any incident, act, event or omission, whether or not related to McGonegal’s employment or separation from employment
with the Company, that has occurred at any time from the beginning of the world up to and including the date of his signing of
this Agreement. Notwithstanding the foregoing, nothing in this agreement releases any claim, lawsuit, complaint or charge, whether
known or unknown, asserted or unasserted, suspected or unsuspected, that Bruno Wu, individually, may have against McGonegal, individually.

 

    	 	2	 

     

    

 

		4.	Covenant
                                         Not To Sue.

 

a)       Except
to enforce the Agreement, McGonegal hereby promises never to file or make, or permit to be filed or made on his behalf, a lawsuit,
charge, complaint, or other claim asserting any claim or demand against the Company Releasees which is within the scope of the
claims released in Paragraph 3 above. This Agreement may and shall be pleaded by the Company Releasees as a full and complete defense
to, and may be used as a basis for the immediate dismissal of or an injunction against any action, suit or other proceeding which
may be instituted, prosecuted or maintained in breach thereof. If McGonegal files or makes, or permits to be filed or made on his
behalf, a lawsuit, arbitration, charge, complaint, or other claim asserting any claim or demand against the Company Releasees which
is within the scope of the General Release set forth above in Section 3, whether or not McGonegal’s claim(s) is/are otherwise
valid, in addition to any other rights and remedies that may be available, such claim shall immediately be dismissed with prejudice,
the provisions of this Agreement shall remain in full force and effect, and McGonegal shall be liable to the Company for all costs,
expenses, and attorneys' fees incurred in defending against such lawsuit, arbitration, charge, complaint, or other claim. While
this Agreement does not prohibit the Equal Opportunity Employment Commission (“EEOC”) or any other federal or state
agency from investigating any complaint or instituting any action against the Company, McGonegal expressly agrees that he will
not seek, receive or accept any monetary damages arising from or related to any such investigation or action. In the event that
McGonegal believes he is compelled by lawful authority or by force of law or is requested to testify or otherwise participate in
any action or proceeding against the Company, he agrees to provide the Company with notice of the matter as promptly as possible
under the circumstances.

 

b)       Except
to enforce the Agreement, the Company hereby promises never to file or make, or permit to be filed or made on his behalf, a lawsuit,
charge, complaint, or other claim asserting any claim or demand against the Company Releasors which is within the scope of the
claims released in Paragraph 3 above. This Agreement may and shall be pleaded by the Company Releasors as a full and complete defense
to, and may be used as a basis for the immediate dismissal of or an injunction against any action, suit or other proceeding which
may be instituted, prosecuted or maintained in breach thereof. If McGonegal files or makes, or permits to be filed or made on his
behalf, a lawsuit, arbitration, charge, complaint, or other claim asserting any claim or demand against the Company Releasors which
is within the scope of the General Release set forth above in Section 3, whether or not McGonegal's claim(s) is/are otherwise valid,
in addition to any other rights and remedies that may be available, such claim shall immediately be dismissed with prejudice, the
provisions of this Agreement shall remain in full force and effect, and McGonegal shall be liable to the Company for all costs,
expenses, and attorneys' fees incurred in defending against such lawsuit, arbitration, charge, complaint, or other claim.

 

    	 	3	 

     

    

 

		5.	Review
                                         and Revocation Rights. By signing this Agreement, McGonegal acknowledges
                                         and agrees that:

 

		a)	McGonegal has read and understands this Agreement.

 

		b)	The Company advised McGonegal to consult with an attorney of his own choosing regarding the terms and meaning of this Agreement
prior to executing this Agreement, and McGonegal did so to the extent he deemed appropriate. McGonegal acknowledges that this Agreement
was negotiated on his behalf by an attorney of his choosing, Jonathan Sack.

 

		c)	McGonegal’s complete release of claims in Section 3(a) and covenant not to pursue released claims in Section 4(a) of
this Agreement are knowing and voluntary and in compliance with the OWBPA.

 

		d)	The consideration offered by the Company in exchange for McGonegal's signing this Agreement represents
valuable and sufficient consideration that McGonegal would not otherwise be eligible to receive. McGonegal acknowledges and agrees
that the complete release of claims contained in Section 3(a) and the covenant not to pursue released claims contained in Section
4(a) are essential material terms of this Agreement

 

		6.	No
                                         Claims Exist. McGonegal confirms that he has not filed any charge, complaint,
                                         or action in any forum or form against the Company Releasees prior to or on the date
                                         on which he signs this Agreement.

 

		7.	Non-Solicitation,
                                         Confidential Information, and Inventions. McGonegal and the Company agree
                                         that the non-solicitation, confidential information, and inventions provisions set forth
                                         in the Offer Letter (sections 6, 8 & 11) shall remain in full force and effect. McGonegal
                                         further agrees he shall continue to be bound by the non-solicitation, confidential information,
                                         and inventions provisions set forth in the Offer Letter.

 

		8.	Non-Disparagement.
                                         McGonegal and the Company agree that the non-disparagement provision set forth
                                         in the Offer Letter (section 9) shall remain in full force and effect. McGonegal further
                                         agrees he shall continue to be bound by the non-disparagement provision set forth in
                                         the Offer Letter.

 

		9.	Confidentiality
                                         of the Agreement. McGonegal and the Company agree that the terms and conditions
                                         of this Agreement are confidential matters and that they will not disclose them to anyone
                                         except that McGonegal may disclose them to his immediate family members, and McGonegal
                                         and the Company may disclose them to their legal or financial advisors (who shall be
                                         bound by this confidentiality agreement and for whom he shall be responsible). If at
                                         some time in the future either party hereto believes that it is required to disclose
                                         the terms or conditions of this Agreement by force of law or otherwise, they agree to
                                         notify the other party hereto in writing at least ten (10) days in advance of any such
                                         disclosure. In the event that it is not possible or practical to provide ten (10) days'
                                         advance written notice, the producing party shall provide as much notice as is possible
                                         and practical under the circumstances.

 

    	 	4	 

     

    

 

		10.	Return
                                         of Information and Materials. McGonegal acknowledges that he has returned
                                         to the Company all confidential information and all manuals, notebooks, records, tapes,
                                         computers, discs, CD-ROMS or other storage mechanisms of documents or information made,
                                         used or kept by McGonegal in connection with the business of the Company and all copies
                                         thereof.

 

		11.	No
                                         Admission of Wrongdoing. McGonegal and the Company agree that this Agreement
                                         is not and shall not be considered as an admission of any wrongdoing or liability on
                                         the part of McGonegal or the Company. McGonegal agrees that the execution of this Agreement
                                         is good, sufficient and legal cause for the Company to reject any request or application
                                         by McGonegal for any future employment.

 

		12.	Press
                                         Release. Notwithstanding paragraph 9 hereinabove, the parties will work
                                         diligently and in good faith on a mutually-agreed press release concerning this matter
                                         that will be released as soon as possible.

 

		13.	Amendment.
                                         McGonegal and the Company agree that no changes to this Agreement will be
                                         effective unless made in writing and signed by both parties.

 

		14.	Entire
                                         Agreement. This Agreement sets forth the entire agreement between the parties
                                         with respect to any and all matters described herein, and fully supersedes any prior
                                         agreements or understandings between the parties with respect to any such matters, except
                                         the provisions contained within the Offer Letter, as incorporated by reference herein.
                                         McGonegal and the Company acknowledge that they have not relied on any representations,
                                         promises, or agreements of any kind made to him in connection with his decision to sign
                                         this Agreement, except for those set forth in writing in this Agreement.

 

		15.	Severability.
                                         Should any provision of this Agreement, excluding Section 3 and Section 4,
                                         be declared illegal or unenforceable by any court or arbitrator of competent jurisdiction,
                                         and cannot be modified to be enforceable, such provision shall immediately become null
                                         and void, leaving the remainder of the Agreement in full force and effect. However, if
                                         McGonegal seeks and succeeds in having any portion of Section 3 or Section 4 of this
                                         Agreement ruled to be unenforceable for any reason, then the entirety of the Agreement
                                         automatically shall be deemed null and void other than sections 5, 6, 8, 9, 10, and 11,
                                         which shall remain in full force and effect.

 

		16.	Enforcement
                                         and Remedies. This Agreement shall be governed and conformed in accordance
                                         with the laws of the State of New York without regard to its conflict of laws rules.
                                         McGonegal and the Company agree that in the event of any dispute related to or arising
                                         from this Agreement, such dispute shall be submitted to binding arbitration. Any such
                                         arbitration shall be conducted in accordance with the American Arbitration Association
                                         (“AAA”) Rules for Employment Disputes then in effect, shall take place in
                                         New York, New York, and shall be conducted before a single neutral arbitrator selected
                                         by the AAA. Nothing herein shall prohibit either party from seeking injunctive or equitable
                                         relief from the state or federal courts of New York, New York in an effort to prevent
                                         an actual or threatened breach of this Agreement or in an effort to obtain specific performance
                                         of
                                         the terms and conditions of this Agreement. In any such injunction or equitable
                                         proceeding, the parties consent to be subject to the jurisdiction of the state and federal
                                         courts located in New York, New York.

 

    	 	5	 

     

    

 

		17.	Notices. All communications
                                         or notices required or permitted by this Agreement shall be made in writing or by e-mail
                                         and shall be delivered and addressed as follows:

 

If to the Company:

 

Robert C. Angelillo, Esq.

Arikin Solbakken LLP

750 Lexington Avenue, 25th Floor

New
York, NY 10022

lsolbakken@arkin-law.com

 

If to McGonegal:

 

Jonathan Sack, Esq.

Sack & Sack, LLP

70 East 55th Street, 10th Floor

New York, NY 10022

jsack@sackandsack.com

 

		18.	Counterparts.
                                         This Agreement may be executed in any number of counterparts and by different parlies
                                         hereto in separate counterparts, each of which when so executed shall be deemed to be
                                         an original and all of which when taken together shall constitute one and the same agreement

 

WHEREFORE, intending to be bound
by the provisions of the foregoing General Release and Covenant Not To Sue, the parties hereby enter into this Agreement by signing
below:

 

 

	BRETT MCGONEGAL	 	IDEANOMlCS, INC.
	 	 	 
	/s/Brett
    McGonegal	 	/s/ Alfred
    P. Poor
	Brett McGonegal	 	Name:	Alfred P. Poor
	 	 	Title:	Chief Operating Officer
	 	 	Date:	2/15/19
	Date:	2/14/19	 	 	 

 

    	 	6

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