Document:

Exhibit 10.16

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(the “AGREEMENT”) is made and entered into on January 22, 2022 by and between Xiaoli Zhong (the “EXECUTIVE”) and
U-BX Technology Ltd. , a Cayman Islands company (the “COMPANY”).

 

WHEREAS, the Company and the
Executive desire to enter into this Agreement to memorialize the terms and conditions of the Executive’s employment with the Company
starting on the date of this Agreement (the “EFFECTIVE DATE”).

 

NOW, THEREFORE, in consideration
of the premises, the mutual covenants and representations contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

Article I. Employment;
Responsibilities; Compensation

 

Section 1.01 Employment.
Subject to ARTICLE III, the Company hereby agrees to employ Executive and Executive hereby agrees to be employed by the Company,
in accordance with this Agreement, for the period commencing on the Effective Date and ending on the one year anniversary of the Effective
Date (“INITIAL TERM”). the Initial Term shall automatically be extended on yearly basis unless either party gives written
notice to the other party 60 days prior to expiration of the Initial Term that it or she, as applicable, does not wish to extend this
Agreement. Executive’s continued employment after the expiration of the Initial Term shall be in accordance with and governed by
this Agreement, unless modified by the parties to this Agreement in writing. For purposes of this Agreement the Initial Term and any extended
term shall be referred to as the “TERM”. 

 

Section 1.02 Responsibilities;
Loyalty

 

(a) Subject
to the terms of this Agreement, Executive is employed in the position of Chief Financial Officer of the Company, and shall perform the
functions and responsibilities of that position. Additional or different duties may be assigned by the Company from time to time. Executive’s
position, job descriptions, duties and responsibilities maybe modified from time to time in the sole discretion of the Company. 

 

(b) Executive
shall devote the whole of Executive’s professional time, attention and energies to the performance of Executive’s work. Executive
agrees to comply with all policies of the Company, if any, in effect from time to time, and to comply with all laws, rules and regulations,
including those applicable to the Company. 

 

Section 1.03 Compensation
and Benefits. As consideration for the services and covenants described in this Agreement, the Company
agrees to compensate Executive in the following manner: 

 

     

     

    

 

(a) Base
Salary. Commencing on the Effective Date and during
the Executive’s employment with the Company, the Company shall pay annual Base Salary of RMB 200,000.00 to the Executive, payable
quarterly. The first payment should be due on the date within 20 weekdays after the effectiveness of the registration statement of the
initial public offering. Annual Base Salary may also be increased from time to time by action of the Board of Directors of the Company
(or any committees or delegees thereof) (the “BOARD”). Termination of the employment shall forfeit the rights to such annual
Base Salary. The Compensation shall also be subject to the approval of Company’s Board of Directors and/or Compensation Committees.

 

(b) Payment
of all compensation to Executive shall be made in accordance with the terms of this Agreement, applicable state or federal law, and applicable
Company policies in effect from time to time, including normal payroll practices, and shall be subject to all applicable withholdings
and taxes. 

 

Section 1.04 Business
Expenses. The Company shall reimburse Executive for all business expenses that are reasonable and necessary
and incurred by Executive while performing his duties under this Agreement, upon presentation of expense statements, receipts and/or vouchers
or such other information and documentation as the Company may reasonably require. 

 

Article II. Confidential
Information; Post-Employment Obligations; Company Property 

 

Section 2.01 Company
Property. As used in this Article II, the term the “COMPANY” refers to the Company and each
of its direct and indirect subsidiaries. All written materials, records, data and other documents relating to Company business, products
or services prepared or possessed by Executive during Executive’s employment by the Company are the Company’s property. All
information, ideas, concepts, improvements, discoveries and inventions that are conceived, made, developed or acquired by Executive individually
or in conjunction with others during Executive’s employment (whether during business hours and whether on Company’s premises
or otherwise) that relate to Company business, products or services are the Company’s sole and exclusive property. All memoranda,
notes, records, files, correspondence, drawings, manuals, models, specifications, computer programs, maps and all other documents, data
or materials of any type embodying such information, ideas, concepts, improvements, discoveries and inventions are Company property. At
the termination of Executive’s employment with the Company for any reason, Executive shall return all of the Company’s documents,
data or other Company property to the Company. 

 

Section 2.02 Confidential
Information; Non-Disclosure.

 

(a) Executive
acknowledges that the business of the Company is highly competitive and that the Company will provide Executive with access to Confidential
Information. Executive acknowledges that this Confidential Information constitutes a valuable, special and unique asset used by the Company
in its business to obtain a competitive advantage over competitors. Executive further acknowledges that protection of such Confidential
Information against unauthorized disclosure and use is of critical importance to the Company in maintaining its competitive position.
Executive agrees that Executive will not, at any time during or after Executive’s employment with the Company, make any unauthorized
disclosure of any Confidential Information of the Company, or make any use thereof, except in the carrying out of Executive’s employment
responsibilities to the Company. Executive also agrees to preserve and protect the confidentiality of third party Confidential Information
to the same extent, and on the same basis, as the Company’s Confidential Information. 

 

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(b) For
purposes hereof, “CONFIDENTIAL INFORMATION” includes all non-public information regarding the Company’s business operations
and methods, existing and proposed investments and investment strategies, seismic, well-log and other geologic and oil and gas operating
and exploratory data, financial performance, compensation arrangements and amounts (whether relating to the Company or to any of its employees),
contractual relationships, business partners and relationships (including customers and suppliers), strategies, business plans and other
confidential information that is used in the operation, technology and business dealings of the Company, regardless of the medium in which
any of the foregoing information is contained, so long as such information is actually confidential and proprietary to the Company. 

 

Section 2.03 Non-Solicitation
of Executives. For a period of six (6) months following the Termination Date, Executive will not, either
directly or indirectly, call on, solicit or induce any other executive or officer of the Company or its affiliates with whom Executive
had contact, knowledge of, or association with in the course of employment with the Company to terminate his employment, and will not
assist any other person or entity in such a solicitation; PROVIDED, HOWEVER, that with respect to soliciting any executive or officer
whose employment was terminated by the Company or its affiliates, or general solicitations for employment not targeted at current officers
or employees of the Company or its affiliates, the foregoing restriction shall not apply.

 

Article III. Termination
of Employment 

 

Section 3.01 Termination
of Employment.

 

(a) General:
The rights of Executive upon termination will be governed by this ARTICLE III. 

 

(b) Definitions:
For purposes hereof: 

 

(i) “CAUSE”
shall include (A) continued failure by Executive to perform substantially Executive’s duties and responsibilities (other than
a failure resulting from Permanent Disability) that is materially injurious to the Company and that remains uncorrected for 10 days after
receipt of appropriate written notice from the Board; (B) engagement in willful, reckless or grossly negligent misconduct that is
materially injurious to Company or any of its affiliates, monetarily or otherwise; (C) except as provided by (D), the indictment
of Executive with a crime involving moral turpitude or a felony; (D) the indictment of Executive for an act of criminal fraud, misappropriation
or personal dishonesty; or (E) a material breach by Executive of any provision of this Agreement that is materially injurious to
the Company and that remains uncorrected for 10 days following written notice of such breach by the Company to Executive identifying the
provision of this Agreement that Company determined has been breached. For purposes of (C) and (D), if the criminal charge is subsequently
dismissed with prejudice or the Executive is acquitted at trial or on appeal then the Executive will be deemed to have been terminated
without Cause.

 

(ii)
“CHANGE OF CONTROL” means the occurrence of any one or more of the following events that occurs after the Effective Date:

 

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1) Any
“person” (as such term is used in sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “EXCHANGE
ACT”)) becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities
of the Company representing more than 50% of the voting power of the then outstanding securities of the Company; provided that a Change
of Control shall not be deemed to occur as a result of a transaction in which the Company becomes a subsidiary of another corporation
and in which the stockholders of the Company, immediately prior to the transaction, will beneficially own, immediately after the transaction,
shares entitling such stockholders to more than 50% of all votes to which all stockholders of the parent corporation would be entitled
in the election of directors; or

 

2) The
consummation of (A) a merger or consolidation of the Company with another corporation where the stockholders of the Company, immediately
prior to the merger or consolidation, will not beneficially own, immediately after the merger or consolidation, shares entitling such
stockholders to more than 50% of all votes to which all stockholders of the surviving corporation would be entitled in the election of
directors, (B) a sale or other disposition of all or substantially all of the assets of the Company, or (C) a liquidation or dissolution
of the Company.

 

(iii) “GOOD
REASON” shall mean one or more of the following conditions arising not more than six months before Executive’s termination
date without Executive’s consent: (A) a material breach by the Company of any provision of this Agreement; (B) assignment
by the Board or a duly authorized committee thereof to Executive of any duties that materially and adversely alter the nature or status
of Executive’s position, job descriptions, duties, title or responsibilities from those of a President and Chief Executive Officer,
or eligibility for Company compensation plans; (C) requirement by the Company for Executive to relocate to a primary place of business
which is more than 50 miles away from the Executive’s primary place of business as of the Effective Date of this Agreement; or (D) a
material reduction in Executive’s Base Salary in effect at the relevant time. Notwithstanding anything herein to the contrary, Good
Reason will exist only if Executive provides notice to the Company of the existence of the condition otherwise constituting Good Reason
within 90 days of the initial existence of the condition, and the Company fails to remedy the condition on or before the 30th day following
its receipt of such notice. 

 

(iv) Involuntary
Termination. For purposes of this Agreement, “Involuntary Termination” shall mean either: a termination without Cause
or a termination for Good Reason. In no event will it be deemed an independent and sufficient basis for an Involuntary Termination 

 

(c) Involuntary
Termination.

 

(i) Involuntary
Termination After Change in Control. If, prior to the expiration of the Employment Period and within twelve (12) months following
a Change in Control, Executive is subject to an Involuntary Termination (as defined in Section 3.01.b.iv), then the Company
will pay “Change in Control Severance Benefits” to Executive (which shall be the sole benefits Executive is entitled to under
these circumstances). The Change in Control Severance Benefits will be a payment (less applicable withholdings and deductions) equivalent
to 18 months of Executive’s Base Salary (as in effect immediately prior to the Change in Control, or the date of the termination
of Executive’s employment, whichever is greater), payable as a single lump sum within 74 days of Executive’s termination of
employment.

 

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(ii) Involuntary
Termination — No Change in Control. If, prior to the expiration of the Employment Period, no Change in Control has occurred
in the preceding twelve (12) months and Executive is subject to an Involuntary Termination (as defined in Section 3.01.b.iv),
then the Company will pay “Severance Benefits” to Executive (which shall be the sole benefits Executive is entitled to under
these circumstances). The Severance Benefits will be a payment (less applicable withholdings and deductions) equivalent to 12 months
of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of employment, payable as
a single lump sum within 74 days of the termination of Executive’s employment.

 

(iii) Determination
of Good Reason. In order for Executive to terminate for Good Reason, (i) Executive must notify the Board, in writing, within
ninety (90) days of the event constituting Good Reason of Executive’s intent to terminate employment for Good Reason, that
specifically identifies in reasonable detail the facts and events that the Executive believes constitute Good Reason; (ii) the event
must remain uncured for thirty (30) days following the date that Executive notifies the Board in writing of Executive’s intent
to terminate employment for Good Reason (the “Notice Period”), and; (iii) the termination date must occur within sixty
(60) days after the expiration of the Notice Period.

 

(d) Voluntary
Resignation; Termination For Cause. If Executive’s employment with the Company terminates
(i) voluntarily by Executive (other than for Good Reason during the period following a Change in Control) or (ii) by the Company
for Cause, then Company shall have no duty to make any payments or provide any benefits to Executive pursuant to this Agreement other
than the amount of Executive’s Base Salary and Over-Time Allowance, if any, accrued through the Termination Date. The use of the
term “Cause” in Section 3.01.b.i in no way limits the right of the Company to terminate Executive’s
employment pursuant to the provisions of this Article III. The Company must notify the Executive, in writing, that the Executive
is being terminated for Cause, and such notice shall identify in reasonable detail the facts and events that the Company believes constitute
Cause.

 

(e)  Accrued
Wages; Expenses. Without regard to the reason for, or the timing of, Executive’s termination
of employment: (i) the Company will pay Executive any unpaid Base Salary and Over-Time Allowance due for periods prior to the Termination
Date, and; (ii) following submission of proper expense reports by Executive, the Company will reimburse Executive for all expenses
reasonably and necessarily incurred by Executive in connection with the business of the Company prior to the Termination Date. These payments
will be made promptly upon the Termination Date and within the period of time mandated by law, subject to provisions set forth herein.

 

Article IV. Miscellaneous

 

Section 4.01 Notices.
All notices and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been
duly given if delivered personally, mailed by certified mail (return receipt requested) or sent by overnight delivery service, or electronic
mail, or facsimile transmission.

 

Section 4.02 Severability
and Reformation. If any one or more of the terms, provisions, covenants or restrictions of this Agreement
shall be determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions shall remain in full force and effect, and the invalid, void or unenforceable provisions shall be deemed severable.
Moreover, if any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to
duration, geographical scope, activity or subject, it shall be reformed by limiting and reducing it to the minimum extent necessary, so
as to be enforceable to the extent compatible with the applicable law as it shall then appear. 

 

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Section 4.03 Assignment.
This Agreement shall be binding upon and inure to the benefit of the heirs and legal representatives
of Executive and the permitted assigns and successors of the Company, but neither this Agreement nor any rights or obligations hereunder
shall be assignable or otherwise subject to hypothecation by Executive (except by will or by operation of the laws of intestate succession)
or by the Company, except that the Company may assign this Agreement to any successor (whether by merger, purchase or otherwise), if such
successor expressly agrees to assume the obligations of the Company hereunder.

 

Section 4.04 Amendment.
This Agreement may be amended only by writing signed by Executive and by the Company. 

 

Section 4.05 GOVERNING
LAW. THIS AGREEMENT SHALL BE CONSTRUED, INTERPRETED AND GOVERNED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REFERENCE TO RULES RELATING TO CONFLICTS OF LAW. 

 

Section 4.06 Jurisdiction.
Each of the parties hereto hereby irrevocably consents and submits to the exclusive jurisdiction of
the state and federal courts located in NEW YORK in connection with any proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby and waives any objection to venue in NEW YORK. In addition, each of the parties hereto hereby waives
trial by jury in connection with any claim or proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby.

 

Section 4.07 Entire
Agreement. This Agreement contains the entire understanding between the parties hereto with respect
to the subject matter hereof and supersedes in all respects any prior or other agreement or understanding, written or oral, between the
Company or any affiliate of the Company and Executive with respect to such subject matter, including the Employment Agreement. 

 

Section 4.08 Counterparts;
No Electronic Signatures. This Agreement may be executed in two or more counterparts, each of which
will be deemed an original. For purposes of determining whether a party has signed this Agreement or any document contemplated hereby
or any amendment or waiver hereof, only a handwritten signature on a paper document or a facsimile transmission of a handwritten original
signature will constitute a signature, notwithstanding any law relating to or enabling the creation, execution or delivery of any contract
or signature by electronic means. 

 

Section 4.09 Construction.
The headings and captions of this Agreement are provided for convenience only and are intended to have
no effect in construing or interpreting this Agreement. The language in all parts of this Agreement shall be in all cases construed in
accordance to its fair meaning and not strictly for or against the Company or Executive. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” 

 

[signature page follows]

 

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IN WITNESS WHEREOF, the parties hereto
have executed this Agreement on the date first written above:

 

	 	/s/ Jian Chen
	 	Name: Jian Chen
	 	Title: Director
	 	 
	 	Executive
	 	 
	 	/s/ Xiaoli Zhong
	 	Name: Xiaoli Zhong

 

 

7Exhibit
10.17

 

NO:________________

 

 

 

 

 

Labor
Contract

(Fixed
Term)

 

 

 

 

 

 

 

Party
A: Youjiayoubao (Beijing) Technology Co., Limited

 

Party
B : _________Liu Mingfei_________

 

Signing
date :May 1, 2020

 

 

 

 

 

 

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Party
A:Youjiayoubao (Beijing) Technology Co., Limited

 

Party
B:Liu Mingfei      Gender: Male      ID card No.: 220702198404031451

 

Telephone
Number:13811134141      Email Address:44226945@qq.com

 

Mailing
Address:Songyuan City, Jilin Province      Registered residence type : Non agricultural

 

Physical
Address:B21a, No. 27, Panjiayuan Nanli, Chaoyang District, Beijing 

 

The
English contract is for reference,and the actual signingshall be subject to the Chinese contract.

 

In
accordance with national labor laws, regulations and relevant provisions, Party A and Party B have reached an agreement through equal
and voluntary negotiation and signed this contract for mutual compliance.

 

Party
B promises that it has terminated the labor contract with any other enterprises, institutions, social organizations and other institutions,
entities or organizations, and there are no other legal relations that may affect the effectiveness or performance of this contract,
and guarantees that its own data and various certificates provided by it are true, complete and accurate.

 

Party
B shall notify Party A in writing within 10 days from the date of change if it changes its communication address or mobile phone, fixed
phone and other contact information. Otherwise, Party A shall be deemed to have delivered the documents to Party B according to Party
B’s communication address specified on this page.

 

1.
Term of labor contract:

 

Party
B applies to join party A for employment, and party A preliminarily agrees to recruit Party B as an employee after selection. Both parties
agree that the term of the labor contract is 5 years, from May 1, 2020 to May 1, 2025.

 

2.
Job position and work content:

 

2.1.
Party B’s post is C0O. Party B’s working area is Beijing. Party A can adjust Party B’s working place according to business needs,
and Party B agrees to obey the adjustment and change of Party A’s working place. In view of the operation characteristics of Party
B’s post, during the term of the labor contract, Party A and Party B agree that if there is a significant change in the objective
situation on which the contract is concluded, or it is really necessary to adjust Party B’s post due to the needs of production work
or according to Party B’s work performance and work performance, Party A shall make reasonable changes to Party B’s post, place of
work and salary, Party B shall obey the adjustment and arrangement of Party A.

 

If
Party B’s post is adjusted according to the above provisions, the adjusted post shall be implemented in accordance with the relevant
incentive measures for the new post and the provisions on salary, treatment and welfare. If Party B disagrees with the adjustment, it
shall be deemed that Party B voluntarily resigns.

 

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2.2.
Party B’s work shall meet the post responsibilities specified in the post description (see the annex to the contract), as well as
various work indicators and objectives assigned by Party A. Employees in the probation period shall meet the relevant employment
regulations during the probation period.

 

3.
Working hours:

 

Party
A shall arrange Party B to implement the standard working hour system. Due to the needs of production and operation, work needs and special
reasons, Party A can appropriately arrange Party B to extend the working hours on the premise of complying with the provisions of the
law. If Party B needs to work overtime, it shall fill in the overtime application form and obtain the approval of the personnel department.
Without approval, Party B shall extend the working hours by itself, which shall not be regarded as overtime. Party A has the right to
reasonably adjust and arrange Party B’s work shifts and rest days according to work needs.

 

4.
Labor remuneration:

 

4.1.
According to Party B’s position and other conditions, Party B’s salary is determined to be 5000 yuan / month (before tax). After normal
attendance and normal labor, Party B has the right to receive basic salary or piecework, hourly salary, other bonuses and subsidies calculated
and issued according to different conditions such as corresponding labor intensity, work performance and actual benefits of the enterprise.
The salary base of Party B for overtime work shall be calculated according to the basic salary standard or the standard specified in
the company’s rules and regulations.

 

4.2.
The salary payment date is the 8th of the next month, and the total monthly income is the monthly salary before tax,
including:

 

(1)
The labor income of Party B in the current month and all other welfare benefits given by Party A to Party B except otherwise agreed in
this contract, including basic salary, post salary, performance salary, confidential salary, etc.

 

(2)
All insurance premiums that Party B must pay by itself and withheld by Party A in accordance with relevant national laws and regulations.

 

(3)
All taxes arising from Party B’s various salaries and treatments.

 

4.3.
Party A has the right to adjust Party B’s salary according to its production and operation status, the change of Party B’s job position
and the labor remuneration distribution method formulated according to law.

 

5.
Insurance benefits:

 

Party
A shall pay social insurance premiums for Party B in accordance with the relevant provisions of the state labor and Social Security Bureau
(each party shall bear the payment proportion according to the relevant provisions). The payment wage declaration base of relevant social
insurance expenses shall be handled by Party A in accordance with the laws and the company’s system.

 

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Party
A handles the relevant social insurance for Party B, but Party B shall submit the true and complete materials necessary for handling
the insurance, including but not limited to files and insurance transfer policies, when handling the employment procedures. Party A shall
not bear all consequences and responsibilities caused by Party B’s refusal, delay in submitting materials or untrue and incomplete materials.

 

6.
Labor protection and working conditions:

 

6.1.
Party A shall provide safe and hygienic working conditions according to national regulations, carry out labor safety and health education
for Party B, and do a good job in the labor protection of employees according to regulations. During the labor process, Party B must
strictly abide by the safe production operation procedures and rules and regulations formulated by the state and Party A.

 

6.2.
If Party B is ill or injured not due to work, his sick leave salary, disease relief fee and medical treatment shall be implemented
in accordance with relevant national regulations and Party A’s medical system and attendance system. The salary and medical
insurance benefits of Party B suffering from occupational disease or work-related injury shall be implemented in accordance with the
relevant provisions of the state and Party A.

 

7.
Responsibilities and obligations of both parties:

 

During
the term of the labor contract, both parties shall abide by the national laws and regulations and the rules and regulations in line with
the labor laws and regulations formulated by Party A. both parties shall perform the contract based on the principle of good faith.

 

7.1.
Obligations to be performed by Party B:

 

(1)
Undertaking guarantee obligations:

 

Party
B promises that when entering into this contract, Party B will not have any legal disputes or dispute risks with others outside the agreement
in terms of business cooperation, business contacts, employment relationship, intellectual property protection, trade secret confidentiality,
etc. If Party B damages or may damage the interests of Party A and Party A’s shareholders (including material interests or non-material
interests such as goodwill, reputation and name) due to the above legal disputes or legal risks with others outside the agreement, and
Party B causes losses to Party A, Party B shall bear the liability for compensation according to law, and Party A has the right to terminate
this contract unconditionally and unilaterally.

 

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Party
B promises that when entering into this contract, Party B shall ensure that there is no previous violation of laws, criminal records
and prohibition of employment stipulated by relevant laws or Party A; Ensure that they are in good health, free from major diseases and
that their physical condition fully meets the job post and work requirements agreed in the contract; Ensure that the educational background,
professional title certificate, qualification certificate and relevant resume certificate provided to Party A are completely true. If
Party B violates the above obligations and causes losses to Party A, Party B shall be liable for compensation, and Party A has the right
to terminate this contract unconditionally and unilaterally.

 

(2)
Obligation to observe discipline and Law:

 

Party
B has known and promised to strictly abide by a series of management systems such as Party A’s rules and regulations, labor discipline,
code of conduct and attendance and leave system; Party A has the right to issue the company’s rules and regulations and labor discipline
to Party B in the form of employee manual and e-mail, and Party B is obliged to perform the work in accordance with the company’s rules
and regulations and labor discipline; Party B shall abide by professional ethics and strive to improve its business level and working
ability.

 

If
Party B disobeys Party A’s management and violates labor discipline, Party A has the right to give disciplinary sanctions to Party B
in accordance with laws and regulations and the rules and regulations of the unit until the contract is terminated, and has the right
to investigate Party B’s liability for breach of contract. If Party B violates the company’s rules and regulations and causes economic
losses to Party A, Party B shall be liable for compensation.

 

In
case of any of the following circumstances, Party B shall be deemed to have seriously violated labor discipline, and Party A shall have
the right to terminate the labor contract at any time:

 

A.
Having two or more major violations within one term of employment;

 

B.
Party B is absent from work for 2 consecutive times or for more than 2 days in a month;

 

C.
Party B embezzles the company’s property, engages in malpractices for personal gain, or forges, alters or misrepresents (budget / reimbursement
/ payment application / external statements, etc.);

 

D.
Providing false information in job application (resume, identity certificate, academic certificate, personal resume, etc.) or other signed
documents;

 

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E.
Fraudulently using, forging, altering or embezzling signatures, company seals or letters;

 

F.
Party B commits theft, gambling, drug abuse and other acts, which do not constitute a criminal crime;

 

G.
Party B commits fraud, extortion, bribery and other acts by taking advantage of his work;

 

H.
Party B has established labor relations with other employers at the same time or engaged in any form of part-time work in other units;

 

1.
Party B takes advantage of his position or work to engage in any business activities other than his position;

 

J.
Party B is administratively detained in violation of the public security management punishment law or arrested, released on bail, reeducation
through labor or investigated for criminal responsibility according to law in violation of national laws and regulations;

 

K.
Without the permission of Party A, Party B publishes information, signs contracts, provides guarantees or certificates in the name of
the company; 50. Party B steals or divulges the company’s business secrets (see article 8 of the contract for details);

 

M.
Party B makes trouble, fights or engages in unhealthy activities in the company (such as MLM, browsing unhealthy websites, discussing
other people’s privacy, etc.) and refuses to correct or cause adverse effects;

 

N.
Deliberately destroying the company’s property or repeatedly slowing down, failing to comply with the work requirements or the work assigned
by the superior, resulting in work delay and other economic losses;

 

O.
Smoking in the company causes fire, or other violations of fire safety and health regulations, resulting in heavy losses to the company;

 

P.
Causing economic loss of more than 10000 yuan or personal injury to others due to dereliction of duty or violation of operating procedures;

 

Q.
Spreading rumors, instigating others to leave or strike.

 

R.
Other circumstances stipulated by laws and regulations and the company’s rules and regulations.

 

(3)
Duty of due diligence:

 

According
to the resolutions of the shareholders’ meeting and the board of directors of Party A and the instructions of the general manager, Party
B shall complete its own work on time, with quality and quantity, create economic benefits for the company and give advice for the operation
and management of the company.

 

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(4)
Duty of loyalty and good faith:

 

During
the term of office of Party A, Party B shall bear the obligations of loyalty and diligence, and shall faithfully perform its duties and
safeguard the interests of the company. They shall not take advantage of their position to accept commissions, rebates or other illegal
income, occupy the company’s property, or commit acts that harm the interests of the company, others and the public interest.

 

(5)
Resignation handover obligations:

 

Party
B must fill in the employee resignation registration form and handle the resignation procedures specified by the company, including business
handover and property handover. If Party B leaves without permission without completing the handover, it shall be liable for breach of
contract. If Party B causes losses to Party A, Party B shall also be liable for compensation.

 

7.2.
Obligations to be performed by Party A:

 

(1)
Pay wages and social insurance to Party B on time according to the contract;

 

(2)
Party A shall provide Party B with necessary working conditions and labor protection conditions according to work needs.

 

8.
Confidentiality responsibility:

 

8.1.Party
A’s trade secret refers to the technical information and business information that is not known to the public, can bring economic benefits
to Party A, has practicability and has been kept confidential by Party A, including but not limited to design, procedure, creative copy,
scheme discussion and demonstration conclusion, product formula, manufacturing process, manufacturing method, management know-how, customer
(Supplier) list, source information Production and marketing strategies, marketing materials, financial statements, bidding documents,
enterprise quality, environmental protection, safety management certification system materials, personnel files, salary and welfare information,
recruitment information, as well as the customer’s business secrets legally mastered by Party A and the business secrets of related enterprises
legally mastered by Party A. (both the discussion draft, the scheme, conclusion and demonstration results not adopted temporarily, as
well as the operation and management documents and information being implemented are within the scope of the above information).

 

8.2.
Unless the above business secrets of Party A have become known to the public through legal channels, Party B’s confidentiality
obligations will terminate.

 

8.3.
Party B shall not obtain Party A’s trade secrets by theft, inducement, coercion, fraud or other improper means, disclose, use
or allow others to use Party A’s trade secrets, copy, hold or retain Party A’s trade secrets and their carriers without
authorization, and shall not engage in other acts in violation of the obligation to keep trade secrets. When this contract is
dissolved or terminated, Party B must immediately return all trade secret materials, documents and other carriers related to Party A
kept or controlled by Party B to Party A, and shall not copy or retain them.

 

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9.
Non competition:

 

9.1.
Party B solemnly promises to perform the following non competition period and obligations during Party A’s tenure and after the termination
or termination of this contract. However, when Party B leaves office, Party A has the right to decide whether to require Party B to perform
the above non competition obligations according to the actual situation. If Party A notifies Party B in writing that it will no longer
require Party B to perform the obligations, Party B will no longer be bound by the non competition obligations, Party A is no longer
required to pay compensation to it:

 

(1)
After canceling or terminating this contract with Party A during the contract period, the non competition period is one year from the
day when the employee completes all formalities and leaves the company.

 

(2)
In case of any dispute arising from the breach of this obligation by both parties, either party has the right to submit to arbitration
and litigation. If the effective arbitration or litigation results determine that Party B has indeed violated the non competition obligation,
Party B shall continue to abide by the non competition obligation in accordance with the contract within one year after the arbitration
or judgment takes effect. If Party B is still within the non competition period agreed in the contract when the arbitration or judgment
takes effect, Then it will automatically continue for one year after the expiration of the non competition period agreed in this contract.

 

During
the non competition period, Party B and its interested parties (including but not limited to Party B’s relatives, agents, partners, etc.)
shall not operate the same, similar or competitive activities as Party A (including but not limited to shares, investment, employment,
agency, cooperation, etc.) on their own or for others, or engage in activities detrimental to Party A’s interests, or operate the same
Units, organizations or individuals with similar or competitive businesses shall provide consulting, guidance, consulting and other auxiliary
services, and shall not take advantage of their positions to seek business opportunities belonging to Party A for themselves or others.

 

9.2.
Party B shall bear all legal liabilities for the consequences and liabilities arising from the violation of the above agreement by
the interested party of Party B.

 

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9.3. After Party B
leaves office, Party A promises to perform the non competition obligation, and Party A shall pay Party B the non competition compensation
on a monthly basis. The amount of compensation shall be subject to the specific provisions in the non competition agreement signed separately.

 

9.4. If Party B violates
the non competition agreement in this labor contract, it shall pay liquidated damages to Party A in accordance with the agreement, and
the amount of liquidated damages is [five times the total salary of the employee in the previous year]. If Party B violates the confidentiality
obligations or non competition restrictions stipulated in this labor contract and causes losses to Party A, it shall also be liable for
compensation.

 

10. Intellectual property agreement:

 

During the term of this contract, the intellectual
property achievements (including but not limited to copyright, trademark right, patent right, non patented technology right, discovery,
invention, etc.) completed by Party B alone, jointly or entrusted by Party B meet one of the following circumstances. No matter whether
Party B completes them during working hours or not, they belong to Party B’s job behavior, and the intellectual property achievements
belong to Party A:

 

10.1. To perform Party
A’s tasks;

 

10.2. Use working time
to complete;

 

10.3. Party B or Party
B’s interested parties use Party A’s material and technical conditions to complete;

 

10.4. Intellectual
property achievements related to the work or task undertaken by party a completed by Party B within 1 year after resignation, retirement
or resignation;

 

10.5. Intellectual
property achievements completed by Party B or Party B’s interested parties during the non competition period that are the same or similar
to or form a competitive relationship with Party A’s business;

 

10.6. Intellectual
property achievements related to Party A’s secrets completed by Party B or Party B’s interested parties during the confidentiality period;

 

10.7. The intellectual
property achievements completed by the interested party of Party B using the position and work of Party B or the information provided
or disclosed by Party B that are the same as or similar to the business of Party A or form a competitive relationship;

 

10.8. Intellectual
property achievements of which Party A and Party B agree that the rights belong to Party A; Party A may give appropriate rewards to the
intellectual property achievements completed by Party B whose rights belong to Party A, and the specific reward methods shall be handled
in accordance with Party A’s rules and regulations.

 

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11. Dissolution and termination of labor contract:

 

11.1. Party A and
Party B may terminate the labor contract upon consensus.

 

11.2. If Party B fails
to meet Party A’s employment standards or recruitment conditions during the probation period, Party A may terminate the contract by notifying
Party B three days in advance.

 

11.3. Party A shall
provide Party B with a certificate of dissolution or termination of the labor contract at the time of dissolution or termination of this
contract, and Party A and Party B are obliged to jointly handle the transfer procedures of Party B’s archives and social insurance relationship
within 15 days.

 

11.4. Party A may
terminate the labor contract at any time under any of the following circumstances:

 

(1) If Party B fails to provide
relevant materials required for employment or social insurance within three months from the date of signing this contract, resulting in
Party A’s failure to go through employment or social insurance payment procedures, it shall be deemed that Party B does not meet the employment
conditions, and Party A shall notify Party B to terminate the contract and explain the reasons;

 

(2) Violating the company’s
rules and regulations and refusing to correct after education and criticism;

 

(3) Party B resigns from
Party A or is dismissed by Party A through negotiation;

 

(4) Party B causes Party
A to conclude or change the contract against its true will by means of fraud, coercion or taking advantage of others’ danger;

 

(5) Party B violates any
of the obligations agreed in Article 7 of the contract;

 

(6) Other circumstances stipulated
by laws and regulations.

 

11.5. Under any of
the following circumstances, Party A may terminate the contract, but shall notify Party B in writing 30 days in advance:

 

(1) Party B is ill or injured
not due to work, and cannot engage in the original work or other work arranged by Party A after the expiration of medical treatment;

 

(2) Party B is incompetent
for his job, and still incompetent after training or job adjustment, and refuses to obey Party A’s work arrangement and labor management;

 

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(3) Party A has serious difficulties
in production and operation, or the contract cannot be performed due to Party A’s change of production and major changes in operating
conditions;

 

11.6. Under any of the following
circumstances, the contract shall be terminated automatically:

 

(1) The contract expires
and both parties cannot reach an agreement on the renewal of the same working conditions;

 

(2) Party A goes bankrupt,
dissolves, has its business license revoked, is ordered to close down or is revoked;

 

(3) Party B enjoys basic pension treatment, retires, declares death,
declares disappearance or death;

 

(4) Party B is temporarily unable to perform its obligations under
the contract, but there are still conditions and possibilities for continued performance, including but not limited to Party B’s suspected
violation of law and crime and restriction of personal freedom by public security, national security or judicial organs;

 

(5) Party B shall be enlisted or perform other legal obligations stipulated
by the state;

 

(6) Other written commitments or agreements stipulated by laws and
regulations or confirmed by both parties.

 

12. Other contents agreed by both parties:

 

12.1. During the term
of this contract, Party A shall invest to appoint Party B to go out for training due to work needs. Both parties agree to extend the term
of this contract in the following ways, and other terms in this contract remain unchanged:

 

(1) The training cost is less than 5000 yuan, and the service shall
be guaranteed for at least one year after training;

 

(2) The training cost is more than 5000 yuan (including 5000 yuan)
and less than 10000 yuan, and the service shall be guaranteed for at least two years after training;

 

(3) The training cost is more than 10000 yuan (including 10000 yuan)
and less than 30000 yuan, and the service shall be guaranteed for at least three years after training;

 

(4) The training cost is more than 30000 yuan (including 30000 yuan),
and the service shall be guaranteed for at least five years after training;

 

The above training expenses include all expenses
incurred by Party B during the training period, such as training expenses, accommodation expenses, travel expenses and communication expenses,
except labor remuneration.

 

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13. Liability for breach of contract:

 

13.1. If Party B leaves
the company without authorization during the contract period, or terminates the labor contract in advance without Party A’s
reason during the contract period, resulting in losses to Party A, Party B shall be liable for compensation.

 

13.2. If Party B is
terminated by Party A under the circumstances specified in Item (3) of Article 8 of the contract, Party A has the right to deduct all
unpaid wages of Party B as liquidated damages paid by Party B to Party A, and has the right to recover all economic losses of Party A
caused by his fault.

 

13.3. If Party B
accepts Party A’s expatriate training and terminates the labor relationship before the service period specified in the labor
contract, Party B shall compensate Party A for the training expenses in accordance with the labor law.

 

13.4. If Party B
violates the provisions of Article 9 above, it shall make compensation in accordance with the labor law and the non competition
agreement signed by both parties.

 

13.5. If Party B damages,
deletes or loses Party A’s operation and management documents and information, or violates the provisions of Article 8 above,
Party B shall be liable for damages to Party A according to law. The payment of Party B’s above compensation shall not exempt
Party B from its confidentiality responsibility.

 

13.6. If Party B
embezzles, accepts bribes, encroaches, destroys, damages, misappropriates or infringes upon the interests of the company or its
shareholders in other ways, Party B shall compensate Party A for the actual losses caused to Party A. If the compensation is
insufficient to make up for Party A’s economic losses, Party A reserves the right to continue to recover.

 

13.7. Party A reserves
the right to make final interpretation of this contract. Party B represents and warrants that it has fully understood and fully accepted
all terms of the contract and fully performed the contract when signing the contract.

 

14. This contract is made
in duplicate and shall come into force after being signed and sealed by both parties. Party A and Party B hold one copy respectively,
and the two contracts have the same legal effect.

 

15. For matters not covered
in this contract, Party A and Party B shall sign a supplementary agreement on the basis of consensus. As an integral part of this contract,
the supplementary agreement has the same legal effect as this contract.

 

16. All rules and regulations,
labor discipline, assessment and reward measures, management forms and documents of Party A shall serve as annexes to this contract and
have the same legal effect as this contract.

 

17. Any labor dispute
arising from the performance of this contract may be settled by both parties through negotiation. If the negotiation fails, both parties
may apply for arbitration to the labor dispute arbitration committee in the place where Party A is located within one year from the date
of the labor dispute.

 

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	Party A (seal):	 	Party B: LIU MINGFEI
	 	 	 
	Authorized Representative:	 	Signature/Seal:
	 	 	 
	Seal: Youjiayoubao (Beijing) Technology Co., Limited	 	/s/ Mingfei Liu
	 	 	 
	May 1, 2020	 	May 1, 2020

 

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Employee Statement

 

Declare that Party B has
read and understood the terms of this contract in detail without any objection. Meanwhile, Party A has shown and explained to Party B
all rules and regulations and labor disciplines of the company. Party B has known and has no objection to all rules and regulations and
labor disciplines of Party A, and promises to strictly abide by them.

 

Party B (Signature/Seal):/s/ Mingfei
Liu

 

May 1, 2020

 

 

 

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