Document:

Exhibit 10.2

MANAGEMENT CONTINUITY AGREEMENT
 
This Management Continuity Agreement (“Agreement”), is made as of January 14, 2022, by and between Atlantic Union Bankshares Corporation, a Virginia corporation (“Bankshares”), which is the parent company of Atlantic Union Bank, a Virginia banking corporation (the “Bank”), the Bank, and Maria P. Tedesco (the “Executive”).  Bankshares and the Bank shall be collectively referred to herein as the “Company.”  
 
1.          Purpose
 
The Company recognizes that the possibility of a Change in Control exists and the uncertainty and questions that it may raise among management may result in the departure or distraction of management personnel to the detriment of the Company and its shareholders. Accordingly, the purpose of this Agreement is to encourage the Executive to continue employment with the Company and/or its affiliates or successors in interest by merger or acquisition after a Change in Control by providing reasonable employment security to the Executive and to recognize the prior service of the Executive in the event of a termination of employment under certain circumstances after a Change in Control.
 
2.          Term of the Agreement
 
This Agreement will be effective on January 14, 2022 (the “Effective Date”) and will expire on December 31, 2022; provided, that on December 31, 2022 and on each December 31st thereafter (each such December 31st is referred to as the “Renewal Date”), this Agreement will be automatically extended for an additional calendar year. This Agreement will not, however, be extended if the Company gives written notice of non-renewal to the Executive no later than September 30th before the Renewal Date (the original and any extended term of this Agreement is referred to as the “Change in Control Period”). 
 
3.          Employment after a Change in Control
 
If a Change in Control of the Company (as defined in Section 12) occurs during the Change in Control Period and the Executive is employed by the Company on the date the Change in Control occurs (the “Change in Control Date”), the Company will continue to employ the Executive in accordance with the terms and conditions of this Agreement for the period beginning on the Change in Control Date and ending on the date that is twenty-four (24) months after the Change in Control Date  (the “Employment Period”). If a Change in Control occurs on account of a series of transactions, the Change in Control Date is the date of the last of such transactions.
 
4.          Terms of Employment
 
(a)          Position and Duties. During the Employment Period, (i) the Executive’s position, authority, duties and responsibilities will be at least commensurate in all material respects with the most significant of those held, exercised and assigned to Executive by the Company at any time during the ninety (90)-day period immediately preceding the Change in Control Date and (ii) the Executive’s services will be performed at the location where the Executive was employed immediately preceding the Change in Control Date or any office that is the headquarters of the Company and is less than thirty-five (35) miles from such location.
  
(b)          Compensation.
 
(i)          Base Salary. During the Employment Period, the Executive will receive an annual base salary (the “Annual Base Salary”) at least equal to the base salary paid or payable to the Executive by the Company and its affiliated companies for the twelve-month period immediately preceding the Change of Control Date with such Annual Base Salary paid in accordance with the payroll practices of the Company applicable to all officers (but not less frequently than monthly). During the Employment Period, the Annual Base Salary will be reviewed at least annually and will be increased at any time and from time to time as will be substantially consistent with increases in base salary generally awarded in the ordinary course of business to other peer executives of the Company and its affiliated companies. Any increase in the Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary will not be reduced after any such increase, and the term 

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Annual Base Salary as used in this Agreement will refer to the Annual Base Salary as so increased. The term “affiliated companies” includes any company controlled by, controlling or under common control with the Company.
 
(ii)          Annual Bonus. In addition to the Annual Base Salary, the Executive will be awarded for each year ending during the Employment Period and for which the Executive is employed on the last day of the year an annual bonus (the “Annual Bonus”) in cash at least equal to the average annual bonus paid or payable, including by reason of any deferral, for the two years immediately preceding the year in which the Change in Control Date occurs. Each such Annual Bonus earned will be paid no later than two and one-half months after the end of the year for which the Annual Bonus is awarded.
 
(iii)          Incentive, Savings and Retirement Plans. During the Employment Period, the Executive will be entitled to participate in all incentive (including stock incentive), savings and retirement, insurance plans, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, subject to the terms and conditions of such plans, policies and programs as in effect from time to time.
 
(iv)          Welfare Benefit Plans. During the Employment Period, the Executive and/or the Executive’s spouse and/or eligible dependents, as the case may be, will be eligible for participation in and will receive all benefits under welfare benefit plans, policies and programs provided by the Company and its affiliated companies to the extent applicable generally to other peer executives of the Company and its affiliated companies, subject to the terms and conditions of such plans, policies and programs as in effect from time to time.
  
(v)          Fringe Benefits. During the Employment Period, the Executive will be entitled to fringe benefits in accordance with the most favorable plans, policies and programs of the Company and its affiliated companies in effect for the Executive at any time during the six months immediately preceding the Change in Control Date or, if more favorable to the Executive, as in effect generally from time to time after the Change in Control Date with respect to other peer executives of the Company and its affiliated companies.
 
(vi)          Paid Time Off. During the Employment Period, the Executive will be entitled to paid time off in accordance with the most favorable plans, policies and programs of the Company and its affiliated companies in effect for the Executive at any time during the six months immediately preceding the Change in Control Date or, if more favorable to the Executive, as in effect generally from time to time after the Change in Control Date with respect to other peer executives of the Company and its affiliated companies.
 
5.          Termination of Employment Following a Change in Control
 
(a)          Death or Disability. The Executive’s employment will terminate automatically upon the Executive’s death during the Employment Period. If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period, it may terminate the Executive’s employment. For purposes of this Agreement, “Disability” means the Executive’s inability to perform the essential functions of her position with the Company on a full time basis for one hundred and eighty (180) consecutive days or a total of at least two hundred and forty (240) days in any twelve (12)-month period as a result of the Executive’s incapacity due to physical or mental illness as determined pursuant to the Company’s long-term disability policy. 
 
(b)          Cause. The Company may terminate the Executive’s employment during the Employment Period for Cause. For purposes of this Agreement, “Cause” means (i) gross incompetence, gross negligence, willful misconduct in connection with the performance of your duties or breach of a fiduciary duty owed to the Company or any affiliated company; (ii) conviction of or entering of a guilty plea or a plea of no contest with respect to a felony or a crime of moral turpitude or commission of an act of embezzlement or fraud against the Company or any affiliated company; (iii) any material breach by the Executive of a material term of this Agreement, including, without limitation, material failure to perform a substantial portion of her duties and responsibilities 

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hereunder, after being advised in writing of such breach or failure and provided a thirty (30)-day opportunity to cure; or (iv) deliberate dishonesty of the Executive with respect to the Company or any affiliated company.
 
(c)          Good Reason. The Executive’s employment may be terminated during the Employment Period by the Executive for Good Reason. The Executive must provide written notice to the Company of the existence of the event or condition constituting such Good Reason within ninety (90) days after the initial occurrence of the event or condition alleged to constitute Good Reason. Upon delivery of such notice by you, the Company shall have a period of thirty (30) days during which it may remedy the event or condition constituting Good Reason, and the Executive’s employment shall continue in effect during such time. In the event the Company shall remedy the event or condition constituting Good Reason, then such notice of termination shall be null and void, and the Company shall not be required to pay any amount due to you under this Section 4(f). If the Company has not remedied the event or condition constituting Good Reason during the thirty (30) day cure period and the Executive does not terminate employment for Good Reason within ninety (90) days thereafter, then the Executive will have waived her right to terminate for Good Reason with respect to such grounds.  For purposes of this Agreement, “Good Reason” means:
 
(i)          a material reduction in the Executive’s duties or authority;
 
(ii)          a failure by the Company to comply with any of the provisions of Section 4(b);
 
(iii)          the Company’s requiring the Executive to be based at any office or location other than that described in Section 4(a)(ii);
 
(iv)          the failure by the Company to comply with and satisfy Section 7(b); or
 
(v)          the Company breaches any term or provision of this Agreement;
 
Notwithstanding the above, Good Reason shall not include any resignation by the Executive where Cause for the Executive’s termination by the Company exists or an isolated, insubstantial and/or inadvertent action not taken in bad faith by the Company and which is remedied by the Company within thirty (30) days after receipt of notice thereof if given by the Executive.  
 
(d)          Notice of Termination. Any termination during the Employment Period by the Company or by the Executive for Good Reason shall be communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and the Date of Termination.
 
(e)          Date of Termination. “Date of Termination” means (i) if the Executive’s employment is terminated by the Company for Cause, or by the Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein, as the case may be, (ii) if the Executive’s employment is terminated by the Company other than for Cause or Disability, the date specified in the Notice of Termination (which shall not be less than thirty (30) nor more than sixty (60) days from the date such Notice of Termination is given), and (iii) if the Executive’s employment is terminated for Disability, thirty (30) days after Notice of Termination is given, provided that the Executive shall not have returned to the full-time performance of her duties during such thirty (30)-day period.
 
(f)          Resignation of All Other Positions. Effective upon the termination of the Executive’s employment for any reason, the Executive shall be deemed to have resigned from all positions the Executive holds as an officer of the Company or any of its affiliates.
 
6.          Compensation Upon Termination
 
(a)          Termination Without Cause or for Good Reason. The Executive will be entitled to the following benefits if, during the Employment Period, the Company terminates her employment without Cause or the Executive terminates her employment with the Company or any affiliated company for Good Reason; provided with 

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respect to the payments set forth in paragraphs (ii) and (iii) below, the Executive signs and delivers a general release and waiver of all claims in favor of the Company, its affiliates and their respective officers and directors in a form provided by the Company and such release has become effective and irrevocable (the “Release”) (for avoidance of doubt, no release is required in connection with the payments set forth in paragraph (i) below).
 
(i)          Accrued Obligations. The Accrued Obligations are the sum of: (1) the accrued but unpaid amount of the Executive’s Annual Base Salary that remains unpaid through the Date of Termination at the rate in effect just prior to the time a Notice of Termination is given; (2) the amount, if any, of any Annual Bonus compensation theretofore earned under Section 4(b)(ii) which has not yet been paid; (3) the product of the Annual Bonus paid or payable, including by reason of deferral, for the most recently completed year and a fraction, the numerator of which is the number of days in the current year through the Date of Termination and the denominator of which is 365; (4) any benefits or awards (including both the cash and stock components) which pursuant to the terms of any plans, policies or programs have been earned or become payable, but which have not yet been paid to the Executive (but not including amounts that previously had been deferred at the Executive’s request, which amounts will be paid in accordance with the Executive’s existing directions); and (5) all unreimbursed business expenses properly incurred on behalf of the Company by the Executive. The Accrued Obligations will be paid to the Executive in a lump sum cash payment within ten (10) days after the Date of Termination or such earlier date as required by law;
 
(ii)          Salary Continuance Benefit. The Salary Continuance Benefit is an amount equal to 2.0 times the Executive’s Final Compensation. For purposes of this Agreement, “Final Compensation” means the Annual Base Salary in effect at the Date of Termination, plus the highest Annual Bonus paid or payable for the two most recently completed years. The Salary Continuance Benefit will be paid to the Executive in a lump sum cash payment within sixty (60) days after the Date of Termination, subject to compliance with Section 16 of this Agreement regarding the requirements of Section 409A of the Internal Revenue Code of 1986 (the “Code”), if applicable;
 
(iii)          Welfare Continuance Benefit. The Company shall pay you a welfare continuance benefit (the “Welfare Continuance Benefit”) in an amount equal to the product of (x) the amount of the Company’s monthly contribution pursuant to its current plan, or plans, in effect as of the Date of Termination to provide group health, dental and vision insurance benefits made available to similarly situated officers of the Company (for avoidance of doubt, that monthly contribution is $720 as of the date of this Agreement), times (y) twenty-four (24). The Welfare Continuance Benefit will be paid to the Executive in a lump sum cash payment within sixty (60) days after the Date of Termination, subject to compliance with Section 16 of this Agreement regarding the requirements of Section 409A of the Code, if applicable.
 
(iv)          Equity Acceleration. All outstanding Awards (as defined in the applicable equity award plan of Bankshares) shall vest in accordance with the terms of the applicable award agreement or other governing document pursuant to which an Award is granted (the “Award Agreement”), except that, solely for purposes of determining vesting in such Awards that are outstanding as of the date of this Agreement and subject to the Release requirement herein, you will be treated as if you are eligible to receive severance pay under the Atlantic Union Bankshares Executive Severance Plan for purposes of applying the terms of the applicable Award Agreement.
 
(b)          Death. If the Executive dies during the Employment Period, this Agreement will terminate without any further obligation on the part of the Company under this Agreement, other than for (i) payment of the Accrued Obligations and six months of the Executive’s Annual Base Salary (which shall be paid to the Executive’s beneficiary or beneficiaries named on Exhibit 1 to this Agreement (or if none, to her estate) in a lump sum cash payment within sixty (60) days after the date of Executive’s death); (ii) payment of an amount equal to the Welfare Continuance Benefit calculated under Section 6(b)(iii) (which shall be paid to the Executive’s beneficiary or beneficiaries named on Exhibit 1 to this Agreement (or if none, to her estate) in a lump sum cash payment within sixty (60) days after the date of Executive’s death); and (iii) the timely payment of all death and retirement benefits pursuant to the terms of any plan, policy or arrangement of the Company and its affiliated companies.

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(c)          Disability. If the Executive’s employment is terminated because of the Executive’s Disability during the Employment Period, this Agreement will terminate without any further obligation on the part of the Company under this Agreement, other than for (i) payment of the Accrued Obligations and six months of the Executive’s Annual Base Salary (which shall be paid to the Executive in a lump sum cash payment within sixty (60) days after the Date of Termination, subject to compliance with Section 16 of this Agreement regarding the requirements of Section 409A of the Code, if applicable); (ii) payment of an amount equal to the Welfare Continuance Benefit calculated under Section 6(b)(iii) (which shall be paid to the Executive in a lump sum cash payment within sixty (60) days after the Date of Termination, subject to compliance with Section 16 of this Agreement regarding the requirements of Section 409A of the Code, if applicable); and (iii) the timely payment of all disability and retirement benefits pursuant to the terms of any plan, policy or arrangement of the Company and its affiliated companies.
 
(d)          Cause; Other than for Good Reason. If the Executive’s employment is terminated for Cause during the Employment Period, this Agreement will terminate without any further obligation to the Executive other than the payment to the Executive of the Annual Base Salary through the Date of Termination, plus the amount of any compensation previously deferred by the Executive paid in accordance with the terms of the plan or program under which such compensation was deferred and applicable law, and all unreimbursed business expenses properly incurred by the Executive. If the Executive terminates employment during the Employment Period, excluding a termination for Good Reason, this Agreement will terminate without any further obligation to the Executive other than for the Accrued Obligations (which will be paid in a lump sum in cash within sixty (60) days after the Date of Termination or such earlier date required by law) and any other benefits to which the Executive may be entitled pursuant to the terms of any plan, program or arrangement of the Company and its affiliated companies.
 
(e)          Maximum Benefit. No amounts will be payable and no benefits will be provided under this Agreement to the extent that such payments or benefits, together with other payments or benefits under other plans, agreements or arrangements, would make the Executive liable for the payment of an excise tax under Section 4999 of the Code, or any successor provision. The amounts otherwise payable and the benefits otherwise to be provided under this Agreement shall be reduced in a manner determined by the Company (by the minimum possible amount) that is consistent with the requirements of Section 409A of the Code until no amount payable to the Executive will be subject to such excise tax. All calculations and determinations under this Section 6(e) shall be made by an independent accounting firm or independent tax counsel appointed by the Company (the “Tax Advisor”) whose determinations shall be conclusive and binding on the Company and the Executive for all purposes. The Tax Advisor may rely on reasonable, good faith assumptions and approximations concerning the application of Section 280G and Section 4999 of the Code. The Company shall bear all costs of the Tax Advisor.
 
7.          Binding Agreement; Successors
 
(a)          This Agreement will be binding upon and inure to the benefit of the Executive (and her personal representative), the Company and any successor organization or organizations which shall succeed to substantially all of the business and property of the Company, whether by means of merger, consolidation, acquisition of all or substantially of all of the assets of the Company or otherwise, including by operation of law.
 
(b)          The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.
 
(c)          For purposes of this Agreement, the term “Company” includes any subsidiaries of the Company and any corporation or other entity which is the surviving or continuing entity in respect of any merger, consolidation or form of business combination in which the Company ceases to exist; provided, however, that for purposes of determining whether a Change in Control has occurred herein, the term “Company” refers to Atlantic Union Bankshares Corporation or its successors.
 
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8.          Fees and Expenses; Mitigation
 
(a)          The Company will pay or reimburse the Executive for all costs and expenses, including without limitation court costs and reasonable attorneys’ fees, incurred by the Executive (i) in contesting or disputing any termination of the Executive’s employment or (ii) in seeking to obtain or enforce any right or benefit provided by this Agreement, in each case provided the Executive is the prevailing party in a proceeding brought in a court of competent jurisdiction. The Company shall reimburse the foregoing costs on a current basis after the Executive submits a claim for reimbursement with the proper documentation of the costs and expenses, provided that no expense will be reimbursed after the end of the year following the year in which the expense is incurred.
 
(b)          The Executive shall not be required to mitigate the amount of any payment the Company becomes obligated to make to the Executive in connection with this Agreement, by seeking other employment or otherwise. The amount of any payment provided for in Section 6 shall not be reduced, offset or subject to recovery by the Company by reason of any compensation earned by the Executive as the result of employment by another employer after the Date of Termination, or otherwise.
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9.          No Employment Contract
 
Nothing in this Agreement will be construed as creating an employment contract between the Executive and the Company prior to a Change in Control.
 
10.          Survival of Certain Restrictive Covenants
 
Section 5(a) of the Employment Agreement, dated as of the same hereof, between the Company and the Executive with respect to the Executive’s covenants concerning noncompetition will not apply to the Executive after she ceases to be employed by the Company, unless the Executive is entitled to receive the severance benefits provided for in Section 6 of this Agreement in connection with the termination of her employment without Cause or for Good Reason in which case the restrictions imposed by Section 5(a) in the Employment Agreement will continue to apply. The non-solicitation and non-piracy restrictions in Sections 5(b) and 5(c) of the Employment Agreement and the confidentiality provisions in Section 5(f) of the Employment Agreement, together with the other provisions of Section 5, except to the extent Section 5(a) of the Employment Agreement may not apply as provided above, will survive the termination of the Employment Agreement and are incorporated into and made a part of this Agreement as though Section 5 of the Employment Agreement were set forth in full in this Agreement and shall apply in all circumstances.
 
11.          Notice
 
Any notices and other communications provided for by this Agreement will be sufficient if in writing and delivered in person, or sent by registered or certified mail, postage prepaid (in which case notice will be deemed to have been given on the third day after mailing), or by overnight delivery by a reliable overnight courier service (in which case notice will be deemed to have been given on the day after delivery to such courier service). Notices to the Company shall be directed to the Secretary of the Company, with a copy directed to the Chairman of the Board. Notices to the Executive shall be directed to her last known address.
 
12.          Definition of a Change in Control
 
No benefits shall be payable hereunder unless there shall have been a Change in Control of the Company during the Change in Control Period as set forth below. For purposes of this Agreement, a “Change in Control” means:
 
(a)          The acquisition by any Person of beneficial ownership of 20% or more of the then outstanding shares of common stock of the Company, provided that an acquisition directly from the Company (excluding an acquisition by virtue of the exercise of a conversion privilege) shall not constitute a Change in Control.
 

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(b)          Individuals who constitute the Board on the date of this Agreement (the “Incumbent Board”) cease to constitute a majority of the Board, provided that any director whose nomination was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board will be considered a member of the Incumbent Board, but excluding any such individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the Company.
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(c)          Consummation by the Company of a reorganization, merger, share exchange or consolidation (a “Reorganization”), provided that a Reorganization will not constitute a Change in Control if, upon consummation of the Reorganization, each of the following conditions is satisfied:
 
(i)          more than 50% of the then outstanding shares of common stock of the corporation resulting from the Reorganization is beneficially owned by all or substantially all of the former shareholders of the Company in substantially the same proportions as their ownership existed in the Company immediately prior to the Reorganization;
 
(ii)          no Person beneficially owns 20% or more of either (1) the then outstanding shares of common stock of the corporation resulting from the transaction or (2) the combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors; and
 
(iii)          at least a majority of the members of the board of directors of the corporation resulting from the Reorganization were members of the Incumbent Board at the time of the execution of the initial agreement providing for the Reorganization.
 
(d)          Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company, or the consummation of a sale or other disposition of all or substantially all of the assets of the Company.
 
(e)          For purposes of this Agreement, “Person” means any individual, entity or group (within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934 (the “Exchange Act”), other than any employee benefit plan (or related trust) sponsored or maintained by the Company or any affiliated company, and “beneficial ownership” has the meaning given the term in Rule 13d-3 under the Exchange Act.
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(f) The foregoing definition of Change in Control shall be modified to the extent necessary to be consistent with and interpreted in accordance with Code Section 409A and regulations issued thereunder. 
 
13.          Miscellaneous
 
No provision of this Agreement may be amended, modified, waived or discharged unless such amendment, modification, waiver or discharge is agreed to in a writing signed by the Executive and the Chairman of the Board, Chief Executive Officer, or President of Bankshares. This Agreement replaces and supersedes any prior agreements, written or oral, relating to the subject matter hereof, and all such agreements are hereby terminated and are without any further legal force or effect. No waiver by either party hereto at any time of any breach by the other party hereto of, or of compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party that are not expressly set forth in this Agreement, except for the Employment Agreement of even date herewith.
  
14.          Arbitration/Venue
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(a)          Both the Company and the Executive acknowledge and agree that any dispute or controversy arising out of, relating to, or in connection with the Executive’s employment or this Agreement, or the interpretation, validity, construction, performance, breach, or termination thereof, shall be settled by binding arbitration unless otherwise required by law, to be held in Richmond, Virginia in accordance with the National Rules for the Resolution of Employment Disputes then in effect of the American Arbitration Association. The arbitrator 

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may grant injunctions or other relief in such dispute or controversy. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. The party against whom the arbitrator(s) shall render an award shall pay the other party’s reasonable attorneys’ fees and other reasonable costs and expenses in connection with the enforcement of its rights under this Agreement (including the enforcement of any arbitration award in court), unless and to the extent the arbitrator(s) shall determine that, under the circumstances, recovery by the prevailing party of all or a part of any such fees and costs and expenses would be unjust.
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(b)          The arbitrator(s) shall apply Virginia law to the merits of any dispute or claim, without reference to rules of conflicts of law.
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(c)          The parties may apply to any court of competent jurisdiction for a temporary restraining order, preliminary injunction, or other interim or conservatory relief, as necessary, without breach of this arbitration agreement and without abridgment of the powers of the arbitrator.  To the extent any dispute between the parties is or becomes part of a judicial proceeding, the exclusive venue for any such proceeding shall be the Circuit Court of Henrico County, Virginia or the federal district court in Richmond, Virginia, selected at the option of the Company and to which the Executive waives all objections and consent to personal jurisdiction.  
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(d)         THE  EXECUTIVE HEREBY CONFIRMS THE EXECUTIVE HAS READ AND UNDERSTANDS THIS SECTION 14, WHICH DISCUSSES ARBITRATION, AND UNDERSTANDS THAT BY SIGNING THIS AGREEMENT, THE EXECUTIVE AGREES, EXCEPT AS PROVIDED IN SECTION 14(c), TO SUBMIT ANY CLAIMS ARISING OUT OF, RELATING TO, OR IN CONNECTION WITH THE EXECUTIVE’S EMPLOYMENT, THIS AGREEMENT, OR THE INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH OR TERMINATION THEREOF TO BINDING ARBITRATION, UNLESS OTHERWISE REQUIRED BY LAW, AND THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF THE EXECUTIVE’S RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO ALL ASPECTS OF THE EXECUTIVE’S RELATIONSHIP WITH THE COMPANY 
 
15.          Validity/Severability
 
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. Should any part of this Agreement be declared or held illegal, invalid or unenforceable, such determination shall not affect the legality, validity or enforceability of any remaining portion or provision of this Agreement, which remaining portions and provisions shall remain in full force and effect as if the Agreement had been executed without the illegal, invalid or unenforceable portion.  
 
16.          Deferred Compensation Omnibus Provision
 
(a)          It is intended that payments and benefits under this Agreement that are considered to be deferred compensation subject to Section 409A of the Code shall be provided and paid in a manner, and at such time and in such form, as complies with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided for therein for non-compliance. Notwithstanding any other provision of this Agreement, Bankshares’ Compensation Committee or Board is authorized to amend this Agreement, to amend or void any election made by the Executive under this Agreement and/or to delay the payment of any monies and/or provision of any benefits in such manner as may be determined by it to be necessary or appropriate to comply with Section 409A of the Code. For purposes of this Agreement, all rights to payments and benefits hereunder shall be treated as rights to receive a series of separate payments and benefits to the fullest extent allowed by Section 409A of the Code.
 
(b)          If the Executive is deemed on the date of separation of service with the Company to be a “specified employee,” as defined in Section 409A(a)(2)(B) of the Code, then payment of any amount or provision of any benefit under this Agreement that is considered deferred compensation subject to Section 409A of the Code shall not be made or provided prior to the earlier of (A) the expiration of the six-month period measured from the date of separation of service or (B) the date of death (the “409A Deferral Period”).

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(c)          In the case of benefits that are subject to Section 409A of the Code, the Executive may pay the cost of benefit coverage, and thereby obtain benefits, during the 409A Deferral Period and then be reimbursed by the Company when the 409A Deferral Period ends. Not later than ten (10) days after the end of the 409A Deferral Period, all payments delayed pursuant to this Section 16 (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such deferral) shall be paid or reimbursed to the Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided as originally scheduled.
  
(d)          “Termination of employment” shall have the same meaning as “separation of service,” as that phrase is defined in Section 409A of the Code (taking into account all rules and presumptions provided for in the Section 409A regulations).
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(e)When, if ever, a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within sixty (60) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company.
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(f)Notwithstanding any of the provisions of this Agreement, neither the Company the Company’s affiliates, nor any of the Company’s officers, directors, employees, agents or representatives shall be liable to the Executive if any payment or benefit which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to Section 409A of the Code otherwise fails to comply with, or be exempt from, the requirements of Section 409A of the Code.
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17.Withholding. All payments required to be made by the Company hereunder to Executive shall be subject to the withholding of such amounts, if any, relating to tax and other payroll deductions as the Company may reasonably determine should be withheld pursuant to any applicable law or regulation.
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18.          Clawback. The Executive agrees that any incentive based compensation or award that she receives, or has received, from the Company or its Affiliates under this Agreement or otherwise, will be subject to clawback by the Company as may be required by applicable law or stock exchange listing requirement and on such basis as the Board determines, but in no event with a look-back period of more than three years, unless required by applicable law or stock exchange listing requirement.
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19.          Counterparts; Electronic Signatures. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. In the event that any signature is executed or delivered by means of an electronic signature (such as DocuSign), facsimile or scanned pages via electronic mail, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such electronic signature, facsimile or scanned pages were the original signed version thereof delivered in person.
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20. No Construction Against Any Party. This Agreement is the product of informed negotiations between parties. If any part of this Agreement is deemed to be unclear or ambiguous, it shall be construed as if it were drafted jointly by all parties. The parties agree neither party was in a superior bargaining position regarding the substantive terms of this Agreement.
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21.Interpretation.  Words importing any gender include all genders.  Words importing the singular form shall include the plural and vice versa.  The terms “herein,” “hereunder,” “hereby,” “hereto,” “hereof” and any similar terms refer to this Agreement.  Any captions, titles or headings preceding the text of any article, section or subsection herein are solely for convenience of reference and shall not constitute part of this Agreement or affect its meaning, construction or effect. Any reference to “days” shall refer to calendar days unless specifically provided otherwise.
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[Signatures follow on next page.]

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IN WITNESS WHEREOF, this Agreement has been executed by a duly authorized officer of each of Atlantic Union Bankshares Corporation and Atlantic Union Bank and by the Executive, as of the date first above written.
 
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ATLANTIC UNION BANKSHARES CORPORATION
​
​
By: ​ ​/s/ John C. Asbury​ ​​ ​​ ​​ ​
John C. Asbury
Chief Executive Officer
​
ATLANTIC UNION BANK
​
​
​
By: ​ ​/s/ John C. Asbury​ ​​ ​​ ​​ ​
John C. Asbury
Chief Executive Officer
​
​
EXECUTIVE:
​
​
​
/s/ Maria P. Tedesco​ ​​ ​
Maria P. Tedesco
​
​

10
​

EXHIBIT 1
BENEFICIARY DESIGNATION
​
​
I hereby designate the following person(s) as a beneficiary for the purposes of Section 6(b) to the extent of the percentage interest listed next to their name:
​
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                NAME                                 PERCENTAGE INTEREST
---------------------------------------------- --------------------------------
---------------------------------------------- --------------------------------
---------------------------------------------- --------------------------------
---------------------------------------------- --------------------------------
---------------------------------------------- --------------------------------
---------------------------------------------- --------------------------------
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          TOTAL (CANNOT EXCEED 100%)
---------------------------------------------- --------------------------------

11
​Exhibit 10.1

 

CONFIDENTIAL

 

INTERNATIONAL
SALES CONTRACT

 

This INTERNATIONAL SALES CONTRACT
(the “Contract”) is made between the Seller and the Buyer after consensus has been reached by both Parties on the cooperation
of 【A1246】(the
“Product”) during the term of this Contract. The Seller and the Buyer shall hereinafter collectively be referred to
as the “Parties”, and individually as a “Party”.

 

	
    THE SELLER: 【FORTUNE
    GEAR LIMITED】

     

    Address: 【
    】

    Tel/Fax: 【
    】

    E-mail: 【
    】

     

    1. PRODUCT & DELIVERY

     
	
    THE BUYER: 【New
    York Tech Capital Inc.】

     

    Address: 【
    】

    Tel/Fax: 【
    】

    E-mail: 【
    】

 1.1 PRODUCT SPECIFICATIONS & PRICE LIST.

 

	Description of Products	Quantity (UNIT)	Per Thera Hash Price(USD/T)	Unit Price (USD)	Subtotal (USD)
	【A1246】	【350】	【  】	【  】	【  】
	 	Total Price (USD)	【  】
	 	 	 	 	 	 

1.2 The【A1246】is
in the following different specifications in terms of Hash performance,【83T,85T
and 87T】The Product the Buyer is going to receive will be a
mix of these according to the production output. The price difference (if any) will be adjusted at the last shipment. The Buyer agrees
with this option upon the Seller’s email notice. The Buyer shall replenish the

 

corresponding payment after receiving
the notice.

 

1.3 The
cost of Delivery & Insurance of the Products from the Seller’s warehouse to the Buyer’s Shipping Address shall be covered
by the Buyer, and other specific rights and obligations in delivery shall be determined according to the Trade Term.

 

1.4 The
Total Price of this Contract will be adjusted according to the final shipment mix of the Product’s model, the Product’s total
Thera Hash performance and the unit price for each Thera Hash as specified in Article 1.1 of this Contract. The Seller/Buyer shall reimburse/pay
the price difference (if any) to the Buyer/Seller without interest or as otherwise agreed by both Parties. In calculating the price difference,
both Parties shall only refer to the Thera Hash performance specification listed in the Product, and shall not use the Thera Hash performance
result acquired from any other sources.

 

 1.5 The Seller has the right to terminate this Contract if the Buyer fails to make any payment on time as stipulated in this Contract.

 

     

     

    

 

CONFIDENTIAL

 

 2. PAYMENT & THE PAYER’S ACCOUNT.

 

The Buyer shall pay 【100】%
of total payment ($【 】 before 【15
January 2022】 .

 

	Seller	Buyer
	
     

    Bank Name
	 	
     

    Bank Name
	 
	
     

    Address
	 	
     

    Address
	 
	Beneficiary Name	 	Beneficiary Name	 
	
     

    Beneficiary Address
	 	
     

    Beneficiary Address
	 
	A/C No.	 	A/C No.	 
	Swift Code	 	Swift Code	 

 

 3. TRADE TERM.

 

【EXW】
To: 【/】,
Port of Loading: 【/】,
Shipping Address:【 】, Shipping Method:【/】,
Delivery Date : depending on the actual logistic availability in 【Jan
2022】 or another date agreed by both Parties and/or after the
Seller receives the payment in full.

 

Any outstanding information of this Article shall be based
on the notification from e-mail of the Buyer on the home page of this Contract. Any modification of the Trade Term shall be agreed in
writing by the Seller and the Buyer.

 

 4. BUYER’S OBLIGATIONS.

 

4.1 The payer of the payment shall be the Buyer of this Contract. Otherwise, in case of any inconformity with THE PAYER’S

 

ACCOUNT set forth above, the Buyer shall
obtain the Seller’s prior written consent in advance.

 

4.2 The
Buyer represents and warrants that it possesses all licenses, certificates, permits and other authorizations that are necessary or required
for the lawful conduct of its business, and further undertakes that it will operate lawfully and with integrity.

 

4.3 A
default configuration will be set for each Product before delivery to test whether the Product operates normally, and the Buyer could
change the configuration settings by itself on the first use of the Product. The Buyer acknowledges and confirms that the Seller shall
not be liable for any loss caused by the Buyer’s change of the configuration settings and/or its failure to change the configuration settings.

 

4.4 This
Contract does not establish any distribution relationships between the Buyer and the Seller (including its affiliated companies). The
Buyer shall make no use of the Seller’s name, trade names or trademarks in connection with the Buyer’s own advertising, marketing,
web sites, etc. without obtaining the Seller’s prior written permission in each instance.

 

    2

     

    

 

			CONFIDENTIAL

 

 5. DELIVERY.

 

 5.1 Trade Term in this Contract is based on Incoterms 2010 of the International Chamber of Commerce.

 

5.2 Insurance
and delivery cost shall be borne by the Buyer. If it is otherwise agreed to be borne by the Seller, the Seller has the right to choose
a third-party company that provides the service.

 

5.3 All
delivery dates are approximate, and as stipulated by the Trade Term, the Seller shall not be liable for any damages of any kind resulting
from delay in delivery.

 

5.4 If
the Seller fails to deliver the Products before the latest delivery date agreed in this Contract, the Seller shall have the right to terminate
this Contract or send a written notice to the Buyer to adjust the delivery of Products including but not limited to the model, quantity,
quality, TH/s specifications, power efficiency, power consumption, the spare parts of the Product and the delivery time agreed in this
Contract, and the Seller shall not be liable for breach of contract. Upon termination of this Contract due to failure of the Seller described
in this Article 5.4, the Seller will refund to the Buyer all the amount paid by the Buyer (excluding the interest between the payment
date and the refund date).

 

The Buyer agrees that any adjustment
or termination of this Contract by the Seller in accordance with this Article shall not cause any Party to be filed for litigation, arbitration
or other legal or administrative procedures, and shall not cause any Party to have the possibility of litigation and potential disputes.

 

5.5 The
Seller shall not be liable for any loss or damage suffered by the Buyer resulting directly or indirectly from, or through, or arising
out of any delay in shipment or delivery of any Product, or resulting directly or indirectly from or through delay arising out of any
of the following: fire, flood, strike, epidemic, accident, civil commotion, riot or war, shortage of labor, fuel, materials or supplies,
regulations, priorities, orders or embargoes imposed by any civil or military government; or any other cause or causes (whether or not
similar to the foregoing) beyond the reasonable control of the Seller.

 

 6. INSPECTION AND ACCEPTANCE.

 

The Buyer shall notify the Seller
in writing on the day of receiving the Products, otherwise the receipt date shown in the carrier’s logistics status shall be deemed as
the actual receipt date (the “Arrival Date”). The Buyer shall examine the Products as soon as possible after the Arrival
Date and shall notify the Seller in writing of any lack of conformity of the Products within 3 days from the date when the Buyer discovers
or ought to have discovered the lack of conformity. In any case the Buyer shall have no remedy for lack of conformity if it fails to notify
the Seller thereof within 15 days from the Arrival Date. The Products will be deemed as consistent with the agreement by both Parties
if the Buyer fails to do so in the above-mentioned inspection and acceptance period.

 

 7. CLAIM.

 

7.1 Any
claim by the Buyer concerning to the Products shipped hereunder shall be filed within 30 days after the Arrival Date and supported by
a survey report issued by a survey or approved by the Seller in writing for the Seller’s examination. Claims in respect of matters
within the scope of responsibility of the insurance company, shipping company, transportation organization and/or post office will not
be entertained by the Seller.

 

7.2 Notwithstanding
Article 7.1, the Buyer shall not raise a claim concerning the inconformity aspects of the Hashrate and/or power efficiency and/or power
consumption specification of the Product, unless their inconformity aspects are so material that prevents the achievement of the purpose
of this Contract.

 

    3

     

    

 

CONFIDENTIAL

 

 8. WARRANTIES.

 

8.1 The Seller’s Warranties

 

8.1.1 The
Seller gives a warranty for all delivered Products 360 days from the date of the delivery. If during this period defects in the Products
are revealed, the Seller shall repair or replace, free of charge, any part proven defective in material, performance, or workmanship;
but lost or potential lost in earning due to the defects of the Product will not be compensated. For the avoidance of doubt, the Buyer
shall pay the inbound shipping and the Seller will pay the return shipping charges for any Products required to be replaced or repaired.
The Buyer shall bear all and any additional costs incurred due to incorrect or incomplete delivery information provided by the Buyer and
all and any risks of loss or damage to the Product, or the parts or components of the Products during the transportation period (including
the transportation period when the Product is sent to the Seller and returned by the Seller to the Buyer).

 

8.1.2 The
exclusions of the Seller’s warranty: a) damages caused by the Buyer’s improper installation, operation, usage, maintenance,
examination or repair of the Products that is in accordance with the technical requirements of the Products or the requirements of the
Products Manual; b) damages intentionally or carelessly caused by the Buyer or any third party; c) normal wear and tear of the Products;
d) damages resulting from improper repair, accident, abuse or neglect; e) damages resulting from force majeure; (f) damages caused by
undue physical or electrical stress, including but not limited to moisture, corrosive environments, high voltage surges, extreme temperatures,
shipping, or abnormal working conditions; (g) damage or loss of data due to interoperability with current and/or future versions of operating
system, software and/or hardware; (h) burnt hash boards or chips; (i) the quality, performance, functionality, or compatibility of pre-installed
software; and (j) other conditions irrelevant with the Seller.

 

8.1.3 Other
than the express warranties set forth in this Contract, the Seller disclaims all other representations, guarantees, and warranties, express
or implied, including, without limitation, the implied warranties of merchantability or fitness for a particular purpose. Further, the
Seller makes no warranty or guarantee with respect to any third-party services or products delivered with or embodied in the services
or deliverables provided hereunder

 

8.1.4 The
Seller is not responsible for any consequences arising from the Buyer’s failure to use the Product in accordance with any instructions,
specifications or conditions of use provided to the Buyer in writing.

 

8.1.5 The
Seller is not responsible for any loss caused by shutdown or other reasons during Product replacement or maintenance, or any Product related
loss caused by confiscation, sealing, seizure, search or other actions by customs or government authorities.

 

8.1.6 Notwithstanding
the Seller’s warranty, the Seller reserves the right to make changes or improvements in design, firmware or manufacturing without
assuming any obligation to change or improve the products previously manufactured and/or sold.

 

    4

     

    

 

CONFIDENTIAL

 

 8.2 The Buyer’s Warranties

 

8.2.1 The
Buyer represents and warrants that none of the Buyer, any of its subsidiaries or, to the best knowledge of the Buyer or its representative,
any director, officer, shareholders or employee of the Buyer or any of its subsidiaries is an entity or person who is a) the target of
any Sanctions Law, or b) located, controlled, organized, or resident in a country or territory that is, or whose government currently
is, the target of countrywide sanctions imposed by any sovereign government sanctions authorities.

 

8.2.2 The
Buyer represents and warrants that it is and will be in compliance with any applicable anti-money laundering, anti-terrorist or economic
sanctions legislation, regulation or guideline, in respect of the source of funds, making the transaction, or using the Products herein.

 

8.2.3 The
Buyer represents and warrants that the execution, delivery and performance of this Contract by the Buyer have been duly authorized by
all necessary corporate action of the Buyer, and this Contract constitutes the valid and binding obligation of Buyer enforceable against
it in accordance with its terms.

 

8.2.4 The
Buyer represents and warrants that the execution, delivery, and performance of this Contract by the Buyer will not (a) violate or conflict
with the articles of organization or by-laws of the Buyer; or (b) constitute a violation of any law, regulation, order, writ, judgment,
injunction or decree applicable to the Buyer.

 

8.2.5 The
Buyer represents and warrants that once the Seller delivered the Products to the Buyer, it bears no responsibility in connection with
the later transactions of the Product made by the Buyer, such as assisting investigation, providing relevant certifications, dealing with
export tax rebate etc.

 

8.2.6 The
Buyer represents and warrants that it will cooperate without condition with the agency engaged by the Seller to conduct the audition,
including but not limited to confirming the already made payments, providing the relevant information and feedbacks as required by the
auditing agency.

 

8.2.7 All
information supplied by the Buyer is and shall be true and correct, and the information does not contain and will not contain any statement
that is false or misleading. The Buyer shall promptly notify the Seller in writing, and furnish to the Seller any information that the
Seller may reasonably request, with respect to the occurrence of any event or the existence of any state of facts that would result in
the Buyer’s warranties not being true.

 

 9. COMPLIANCE & SANCTIONS.

 

9.1 The
Buyer undertakes that it will fully comply with all applicable laws in relation to export and import controls and sanctions and shall
not take any action that would cause the Seller or any of its Affiliates to be in violation of any applicable export and import control
laws or sanctions. For the purpose of this Contract, “Affiliate” means, in the case of a Person other than a natural person,
any other Person that directly or indirectly Controls, is Controlled by or is under common Control of the Person. The Buyer shall also
be fully and exclusively liable for and shall defend, fully indemnify and hold harmless the Seller and/or its Affiliates from and against
any and all claims, demands, actions, costs or proceedings brought or instituted against the Seller and/or its Affiliates arising out
of or in connection with any breach by the Buyer or the carrier of any applicable laws in relation to export and import control or sanction.

 

    5

     

    

 

CONFIDENTIAL

 

9.2 The Buyer and its customers who purchased
the Products in the stream of commerce shall not export, re-export, transfer or otherwise release Products provided by the Seller,
directly or indirectly, to or for: i) a U.S. prohibited destination, such as Iran, Syria, North Korea, Crimean region, Venezuela and
Cuba, or a national thereof wherever located, or to any other country subject to restriction under applicable laws and regulations
of any countries and international organizations; ii) any sanctioned person or entity identified on the U.S. Consolidated Screening
List (see https://2016.export.gov/ecr/eg_main_023148.asp) or subject to sanctions
administeredbytheU.S.DepartmentofTreasury’sOfficeofForeignAssetsControl(OFAC)(see
http://sanctionssearch.ofac.treas.gov/); iii) the design, production or use of military, nuclear, missile or chemical &
biological weapons activities or systems and any party engaged in such activities; and iv) the target of economic sanctions
administered by the United Nations Security Council, the European Union, Her Majesty’s Treasury or Singapore.

 

9.3 The
Buyer undertakes that it will not take any action under this Contract or use the Product(s) in a way that will be a breach of any anti-money
laundering laws, any anti-corruption laws, and/or any counter-terrorist financing laws.

 

9.4 The
Buyer warrants that the Product(s) have been purchased with funds that are from legitimate sources and such funds do not constitute proceeds
of criminal conduct, or realizable property, or proceeds of terrorism financing or property of terrorist, within the meaning given in
the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act and the Terrorism (Suppression of Financing)
Act, respectively. If the Seller receives, including but not limited to investigation, evidence collection, restriction and other measures,
from any competent organizations or institutions, the Buyer shall immediately cooperate with the Seller and such competent organizations
or institutions in the investigation process, and the Seller may request the Buyer to provide necessary security if so required. If any
competent organizations or institutions request the Seller to seize or freeze the Buyer’s Products and funds (or take any other
measures), the Seller shall be obliged to cooperate with such competent organizations or institutions, and shall not be deemed as breach
of this Contract.

 

 10. INTELLECTUAL PROPERTY RIGHTS

 

10.1 The
Parties agree that the intellectual property rights in any way contained in the Product(s), made, conceived or developed by the Seller
and/or its Affiliates for the Product(s) under this Contract and/or, achieved, derived from, related to, connected with the provision
of the Product(s) by the Seller and/or acquired by the Seller from any other person in performance of this Contract shall be the exclusive
property of the Seller and/or its Affiliates.

 

10.2 All
intellectual property rights in the Product(s) shall remain the exclusive property of the Seller and/or its licensors. The Buyer shall
in no event violate the intellectual property rights of the Seller and/or its licensors. Nothing in this Contract will function to transfer
the Seller’s or its Affiliates’ intellectual property rights in connection with the Product to the Buyer or to any third party.
No right or license is granted or implied under any of the Seller’s or its Affiliates’ patents, copyrights, trademarks, trade
names, service marks or other intellectual property rights to the Buyer or to any third party. If any act of the Buyer or third party
infringes, violates, or misappropriates any intellectual property rights of the Seller, the Seller shall defend and claim for compensation
through relevant ways.

 

10.3 The
Buyer shall not illegally use or infringe the intellectual property rights of the Product in any other measure. Otherwise, The Seller
shall have the right to request the Buyer to take immediate remedial measures and assume full responsibilities, including but not limited
to ceasing the infringement immediately, eliminating the impact, and compensating the Seller and/or its suppliers for all losses arising
out of the infringement, etc.

 

10.4 The
Buyer shall not use any technical means to disassemble, mapping or analyze the Products of the Seller that the Buyer obtains publicly
to retrieve relevant technical information of the Products and use it for commercial purposes. Otherwise, the Buyer shall be liable for
losses caused to the Seller in accordance with Article 10.3.

 

 11. LIABILITY FOR BREACH.

 

11.1 After
this Contract comes into effect, the Seller and the Buyer shall fully perform their obligations as stipulated in this Contract. Except
as otherwise provided in this Contract, if either Party fails to perform or partially performs its contractual obligations, it shall be
liable for such breach and shall compensate all losses resulting thereof to the other Party.

 

11.2 If
the Buyer cancels the order except upon the Seller’s written consent, the Seller shall have the right to deduct all the Buyer’s
payment, plus all costs and losses it sustains arising from the Buyer’s cancellation of an order without the Seller’s written
consent and the Seller shall also have the right to refuse to perform the delivery obligation under this Contract.

 

11.3 In
the event that the Seller suffers any loss or receives any complaint as a result of the Buyer’s breach of contract, or any other
circumstances cause or may cause the damage of the Seller’s interests by the Buyer’s breach, then the Seller has the right to unilaterally
suspend or terminate this Contract and to require the Buyer to be liable for all losses of the Seller and assume related liabilities.

 

    6

     

    

 

CONFIDENTIAL

 

11.4 If
the Buyer delays in the payments, it shall pay compensation to the Seller, which shall be the sum of non-paid amount × the days
postponed/365 × 10%. The Seller has the right to terminate this Contract if the delay exceeds 30 days and to hold the Buyer to be
liable for breach of contract under this Article 11 of this Contract.

 

11.5 If
the Seller fails to deliver the Products on schedule pursuant to this Contract for the Buyer’s reason or the Buyer fails to take
the Products according to the agreed delivery date, the Seller shall be entitled to charge storage fees as 0.2%/per day on the value of
Products not delivered. The Seller has the right to unilaterally suspend or terminate this Contract and refuse to perform the delivery
obligation under this Contract if the Products cannot be delivered more than 30 days after the agreed delivery date due to the Buyer’s
reason.

 

11.6 If
there are damages or losses in the Buyer due to the quality or delivery of the Products, the Buyer’s remedies are limited to the
repair or replacement under the Seller’s warranties. Any other representations, expressed or implied, warranty, or liability relating
to the condition or use of the Product are specifically disallowed, and in no event shall the Seller be liable to Buyer, or any third
party, for any direct and indirect consequential or incidental damages, and the Buyer hereby fully and finally releases, acquits and discharges
the Seller and its Affiliates for any and all rights, titles, claims, liabilities and causes of action in respect of any such damages
or losses.

 

11.7 The Buyer shall
defend, indemnify, and hold harmless the Seller, its Affiliates and their respective officers, directors, employees, agents,
servants, subcontractors, and distributors from and against any and all actions, claims, demands, suits, judgments, liabilities,
expenses (including but not limited to reasonable attorney’s fees), losses, or damages of whatever nature arising out of or
relating to (i) any breach by the Buyer of any representation, warranty, covenant or obligation hereunder; (ii) any third party
claim against the Buyer in respect of infringement of a third party’s intellectual property rights arising out of the
Buyer’s use of the Product; and (iii) any other third-party claims to the extent caused by acts or omissions of the Buyer.

 

11.8 If
the Seller breaches the Contract, it shall be liable for compensation and to perform its obligations within the prescribed time limit.
The Seller and its Affiliates’ cumulative aggregate liability pursuant to this Contract, whether arising from tort, breach of contract
or any other cause of action shall be limited to and not exceed the amount of one hundred percent (100%) of the payment actually received
by the Seller from the Buyer for the Product(s).

 

11.9 Notwithstanding
any other provisions in this Contract, neither Party shall be liable to the other Party for any loss of profit or revenues, loss of opportunity,
loss of goodwill or reputation, and /or any indirect or consequential losses whatsoever, even if advised of the possibility of such damages.

 

 12. FORCE MAJEURE.

 

Neither Party shall be liable for
the delays in certificate, stocking, shipment or delivery due to force majeure. The affected Party shall notify the other Party that the
delivery date of Products exported overseas is determined by the customs clearance time and logistics speed at home abroad. Under all
the conditions of force majeure, the Seller will not be responsible for the delay and failure of delivery or any problems of the quality
of the Products.

 

    7

     

    

 

CONFIDENTIAL

 

13. APPLICABLE LAW AND JURISDICTION.

 

13.1 This
Contract shall be governed by and construed in accordance with the laws of P.R.China excluding conflict of laws provisions which may direct
the application of another jurisdiction’s laws.

 

13.2 Any
disputes arising from or in connection with this Contract shall be submitted to China International Economic and Trade Arbitration Commission
(“CIETAC”) in Beijing, China for arbitration in accordance with its arbitration rules in effect at the time of applying for
arbitration. The language to be used in the arbitral proceedings shall be Chinese. The arbitral award is final and binding upon both Parties.

 

 14. ATTORNEYS’ FEES.

 

The Prevailing Party in any dispute
shall have the right to collect from the other Party its reasonable costs, necessary disbursements, and attorneys’ fees incurred
in enforcing this Contract. The “Prevailing Party” means the Party in whose favor a(n) arbitral award, judgment, decree, or
final order is rendered, and also means the Party obtaining substantially the relief sought, whether by compromise, settlement, or judgment.

 

If either Party fails to comply
with the provisions of Article 13 to initiate the dispute resolution procedure, it shall indemnify the other party for the legal costs
incurred for the objection to jurisdiction and the correction of the judicial procedure.

 

 15. CONFIDENTIALITY.

 

15.1 Either
Party shall keep any and all Confidential Information obtained from the other Party, as well as this cooperation and the specific content
of this Contract in strict confidence. For the purpose of this Contract, “Confidential Information” shall mean any and all
information (whether in oral, written or electronic form) including technical or other information imparted in confidence or disclosed
by one Party to the other or otherwise obtained by one Party relating to the other’s business, finance or technology, know- how,
trade secrets, intellectual property, assets, strategy, Products and customers, including without limitation information relating to management,
financial, marketing, technical and other arrangements or operations of any person, firm, or organisation associated with that Party;

 

15.2 Either
Party shall not use such Confidential Information for any purpose other than that specified herein nor disclose such information to any
company or individual other than The Seller or The Buyer, unless agreed by the other Party. Either Party shall only disclose the Confidential
Information to its Representatives (i) who need to know the Confidential Information for the purpose of the performance of the Contract,
(ii) who are bound by confidentiality obligations at least as restrictive as those contained herein. For the purpose of this Contract,
“Representative” means any Affiliates, directors, officers, financier and prospective financier, employees, agents and advisors.

 

15.3 However,
such confidential information may be disclosed as required by laws and regulations, listing rules, judicial organs, regulatory agencies,
or as otherwise provided herein. This Article 15 shall survive the termination, suspension, invalidation or invalidity of this Contract
or any articles herein, and remain binding on both Parties.

 

 16. PERSONAL DATA

 

For the purpose of this Contract,
“Personal Data” includes but is not limited to the Buyer’s name and identification information, contact information
such as the Buyer’s address, email address and telephone number, nationality, gender, date of birth, and financial information such
as credit card numbers, debit card numbers and bank account information.

 

The Seller generally does not collect
the Buyer’s personal data unless (a) it is provided to the Seller voluntarily by the Buyer directly or via a third party who has
been duly authorized by the Buyer to disclose the Buyer’s personal data to the Seller (the Buyer’s “authorized representative”)
after (i) the Buyer (or the Buyer’s authorized representative) has been notified of the purposes for which the data is collected,
and (ii) the Buyer (or the Buyer’s authorized representative) has provided written consent to the collection and usage of the Buyer’s
personal data for those purposes, or (b) collection and use of personal data without consent is permitted or required by related laws.
The Seller shall seek the Buyer’s consent before collecting any additional personal data and before using the Buyer’s personal
data for a purpose which has not been notified to the Buyer (except where permitted or authorized by law).

 

    8

     

    

 

CONFIDENTIAL

 

 17. MISCELLANEOUS.

 

17.1 This
Article 17.1 shall survive any termination, suspension, invalidation or invalidity of this Contract or any articles herein, and shall
continue to remain binding on both Parties regardless of any termination, suspension or invalidation.

 

17.2 This
Contract shall constitute the entire agreement of both Parties and supersede all prior oral or written agreement, commitments and understandings
with respect to the transaction hereof.

 

17.3 If
any provision of this Contract is held to be invalid or unenforceable by a court of competent jurisdiction, then that provision will be
enforced to the maximum extent permissible in conformance with the intent of the parties, and the remaining provisions will remain in
full force and effect.

 

17.4 For
matters not covered in this Contract, both Parties shall enter into a written supplementary contract upon mutual agreement through negotiation.
The supplementary agreement shall have the same legal effect as this Contract.

 

17.5 The
Seller may freely assign or transfer any of its rights, benefits or obligations under this Contract in whole or in part to its Affiliates
or to any third party. The Buyer may not assign or transfer any of its rights, benefits or obligations under this Contract in whole or
in part without the Seller’s prior written consent.

 

17.6. This Contract shall be binding
upon and inure to the benefit of each Party to this Contract and its successors in title and permitted assigns.

 

17.7 Failure
by either Party to enforce at any time any provision of this Contract, or to exercise any election of options provided herein shall not
constitute a waiver of such provision or option, nor affect the validity of this Contract or any part hereof, or the right of the waiving
Party to thereafter enforce each and every such provision or option.

 

17.8 This
Contract shall come into force on the date that it is duly executed by both Parties. There shall be four original copies, two originals
to be held by each Party. A signed copy of this Contract transmitted by email shall be deemed to have the same legal effect as delivery
of an original Contract. An electronic signature shall be deemed the same as an original or wet ink signature.

 

 17.9 Appendix A and Appendix B constitute an integral part of this Contract and the Parties shall abide by the provisions thereof.

 

(No text below)

 

    9

     

    

 

CONFIDENTIAL

 

(Signature Page of this INTERNATIONAL SALES CONTRACT)

 

	
    SELLER:【FORTUNE
    GEAR LIMITED】

    Seal and Signature:【       】

     

    Title: 【   】

    Date: 【2022.1.12】
	
    BUYER: 【New
    York Tech Capital Inc.】

    Seal and Signature:【             
    】

     

    Title:【CEO
    】

    Date: 【2022.1.12】

 

    10

     

    

 

CONFIDENTIAL

 

Appendix A: Declaration for Integrity

 

As the cooperative
customer of the Seller, the Buyer would like to eliminate illegal actions together with the Seller, including but not limited to commercial
bribery; and the Buyer warrants that:

 

1. The
Buyer prohibits itself and/or its relevant employees, officers or principals to provide any presents, money or any tangible or intangible
interests through any other methods (other than reasonable and customary business souvenir, meal and entertaining proven acceptable under
Chinese law. For souvenir, any souvenir that is priced over 500RMB is deemed inappropriate and unacceptable).

 

2. If
the Buyer authorizes itself and/or its relevant employees, officers or principals to engage in any of the aforesaid actions, the Seller
is entitled to terminate the cooperation with the Buyer and cancel the Contract entered into by the parties. At the same time, the Buyer
agrees to pay the fine for breach of this Declaration, which shall be all losses, damages, costs, legal fees, penalties and all damages
caused to the Seller from such acts and any other restitution provided by law.

 

3. If
the Buyer and/or its relevant employees, officers or principals treat the Seller’s employees and/or their families secretly, or
provide any interests to the Seller’s employees and/or their families, the Buyer shall immediately notify the Seller; if the Buyer
fails to do so, the above Article 2 may be applied.

 

4. If
the Seller’s employees ask for any tangible or intangible interests from the Buyer and/or its employees, the Buyer will notify the
Seller immediately and coordinate with the Seller to deal with such employees according to the laws. The Seller may terminate the cooperation
with the Buyer permanently if the Buyer conceals such acts of asking for bribes.

 

    11

     

    

 

CONFIDENTIAL

 

Appendix B: Technical acceptance standards

 

The following custom parameters are:

 

1、Device
name: 【A1246】

 

2、Hashrate:the
whole machine is stable at【83/85/87】TH/s(【-3】%~
【+3】
%)without overclocking

 

3、Power
Consumption: 【3400】
( 【-5】 %~【+5】
%)@Wall-Plug

 

4、Power
Supply AC Input:【185-285】
V

 

5、Operating
Temperature: 【-5-35】°C

 

6 、Cooling
method: 【Wind Cooling】 

 

 

12

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