Document:

Exhibit 10.1

 

YOUR CHOICE FOUR CA INC HOSTING AGREEMENT

 

This Hosting Agreement (“Agreement”),
made as of June 06, 2022 (“Effective Date”), is made by and between Your Choice Four CA, Inc. (“Host”), a Delaware
company with its principal place of business located at 19800 MacArthur Blvd, Irvine, CA 92612 and SonicHash LLC (“Client”),
a Delaware registered company with its principal place of business located at 375 Park Ave, Fl 1502, Seagram Building, New York, NY 10152.
(collectively “Parties”; individually “Party”).

  

Recitals

 

WHEREAS, Host primarily engages in the business
of cryptocurrency mining and ancillary hosting services;

 

WHEREAS, Client engages in the business of cryptocurrency
mining;

 

WHEREAS, Host seeks to provide certain cryptocurrency
mining and hosting services to Client in exchange for equitable compensation; and

 

WHEREAS, Client seeks to utilize certain cryptocurrency
mining and hosting services of Host;

 

NOW, THEREFORE, in consideration of the premises
herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties
hereto, each intending to be legally bound hereby, agree to the provisions of this Agreement as follows:

 

Agreement

 

		1.	Host Services.

 

		1.1.	Services. Client has, or shall promptly, deliver the Digital Asset mining equipment listed in Exhibit
A attached hereto (the “Client Equipment”) to Host. Host shall receive and test the Client Equipment, engage in
cryptocurrency mining and operation of the Client Equipment, provide rack space allocation for the Client Equipment (“Client
Space”), installation services, electrical power connection, cooling infrastructure, network connectivity, security, and technical
support, as outlined in this Agreement (collectively, the “Services”), for the Term.

  

    	 	Page 1 of 20	 

     

    

 

		1.2.	Host Containers. Host may use modified pods designed or procured by Host (“Host Container”)
for purposes of providing Services for the Client. Host may transfer the Client Equipment to Host Containers. In the event Client Equipment
is delivered earlier than the date on which certain Host Containers may be deemed ready for hosting by the Host, Host may find other facilities
to host such Client Equipment before the relevant Host Containers are deemed ready for hosting by the Host. Notwithstanding any contradictory
terms in this Agreement, Host shall not be liable for any delays in providing the Host Containers, and the Host Containers shall remain
the property of Host at all times. Host can not move the Client Equipment to other properties without the prior written consent of Client.
Nothing in this Subsection shall be construed to provide Client any ownership interest in any Host Container(s).

 

		1.3.	Installation and Testing. Upon receipt of Client Equipment, Host shall perform commercially reasonable
testing in accordance with Host’s equipment testing procedures and notify Client of any malfunctioning Client Equipment within five
(5) business days. Host shall install all properly functioning Client Equipment in the Client Space within seven (7) business days of
testing such Client Equipment. Host shall not be liable for any defects or malfunctions in Client Equipment attributable to the Equipment’s
quality problem or for failing to identify any hidden defects during installation or testing.

 

		1.4.	Commencement Date. Host shall commence the provision of Services on the Commencement Date which
shall be either of:

 

		1.4.1.	Ten (10) business days after Host informs Client that Host is ready to receive the Client Equipment and
receives such Client Equipment; or

 

		1.4.2.	A date agreed to by the Parties in writing as stated in Exhibit A; provided, however, that Host may extend
the agreed-upon Commencement Date by up to six (6) calendar months.

 

In any event, Host shall provide Client
written notice that the provision of Services has commenced no later than seven (7) business days following such commencement.

 

		1.5.	Maintenance. Host shall perform such maintenance actions as Host deems necessary or desirable with
respect to the buildings and facilities owned or leased by Host in which the Client Equipment is located (“Data Center”)
and maintain Host’s network (“Maintenance”). Client acknowledges and agrees that the performance of Maintenance
may cause the network to be temporarily inaccessible and the Services unavailable to Client. Host shall use commercially reasonable efforts
to conduct such Maintenance in a manner so as to avoid or minimize the unavailability of Services to Client Equipment. If Maintenance
is planned or expected to interrupt the availability of Services, Host shall provide Client notice forty-eight (48) hours prior to conducting
such maintenance via email/wechat, identifying the time and anticipated duration of the Maintenance. Notwithstanding the foregoing, Host
may conduct emergency Maintenance without prior notice to Client; provided, however, that Host shall provide Client notice during or after
such emergency Maintenance within a reasonable time. Host shall take commercially reasonable efforts to ensure that the Maintenance frequency
shall not exceed three (3) occurrences (excluding emergency Maintenance) each calendar month and shall not exceed eight (8) hours per
occurrence.

 

    	 	Page 2 of 20	 

     

    

 

		1.6.	Repair Work. Host shall monitor Client Equipment daily and shall, within three (3) business days, contact
Client if any Client Equipment is not fully operational. At Client’s request, Host shall perform diagnostic and repair work (“Repair
Work”) on such Client Equipment. Repair Work shall be billed in hourly increments, and billable services for such Repair Work
shall include all time expended to diagnose problems, communicate and receive Client instructions, perform repairs, and report results.
Repair Work shall be billed at the rate of fifty dollars per hour ($25.00/hr), excluding the cost of any materials or equipment supplied
or purchased by Host; provided, however, that Host shall provide a quote to Client in advance and obtain the written consent of Client
prior to the commencement of any Repair Work. Notwithstanding the foregoing, such quotes provided by Host may be subject to change. The
response time for Repair Work shall be based upon the availability of resources at the time of Client’s request. Subject to the
aforementioned notification and consent requirement, Client hereby authorizes Host to open and modify Client Equipment for Repair Work
and acknowledges that such requests may void the warranty of the affected Client Equipment. Any hardware replacement determined necessary
by Host shall be as agreed by the Parties prior to making additional purchases.

 

		1.7.	Minimum Service Level. Except in the event of Maintenance, Client Equipment failure, Repair Work,
and force majeure, each month, Host shall provide the Services to Client ninety percent (90%) of the time (“Uptime”)
during any thirty (30) day period (“Minimum Service Level”). The Client should negotiate with the Host and reach a
mutual agreement if the Minimum Service Level is below the reasonable expectation.

 

The Customer agrees to consume the
electricity as much the total theoretical electricity consumption of the equipment included in the Exhibit A to this agreement as possible
and rack high performance machines at the Site. Host will charge the service fee according to actual consumption if the monthly electricity
consumption is less than 80% in the event of Maintenance, Repair Work, electricity/network breakdown and force majeure. If there is evidence
suggesting Client deliberately rack low quality machines or shut down machines without notice to Host or reasonable ground, Client shall
pay the service fee according to the minimum requirement of 80% of total theoretical equipment electricity. To avoid different interpretation,
the first month to apply this 80% shall count from the moment all the machines included in Exhibit A connect to the network and electricity
at the site. To be specific, if the machines connect to the network and electricity at June 20, 20221, the consumption ratio shall be
calculated as: actual consumption between June 20 and June 30 divided by theoretical consumption after deducting aforementioned underperformance
of Host and etc.

 

    	 	Page 3 of 20	 

     

    

 

		1.8.	Service Failures. Client accepts that Services may not be uninterrupted, error-free, or on a completely
secure basis. Host shall have no obligation to credit Client any amount for any such failure in the event that Host fails to provide Service
and Host determines in its reasonable judgment that such failure was the result of:

 

		1.8.1.	Force majeure;

 

		1.8.2.	Host’s curtailment of power to the Data Center, the Client Space or to the Client Equipment, if
Host reasonably determines that either the energy grid requires additional power, there is a surge in energy supply prices beyond fifteen
percent (15%) of its historical seasonal average, and/or such curtailment is warranted by any extreme weather events

 

		1.8.3.	Any actions or inactions of Client, including any activity under Client’s control or within the
obligations undertaken by Client (including, without limitation, hacking, provision of inaccurate or corrupt data, use of the Services
other than in accordance with the directions of Host, failure or inability of Client to receive Digital Assets, failure of the underlying
software protocols of the Digital Asset networks; or

 

		1.8.4.	Maintenance.

 

		2.	Hosting Fee and Deposit.

 

		2.1.	Hosting Fee. The Hosting Fee shall be based on a price of $0.060 per kilowatt and will be billed
to Client according to the actual electricity consumption generated.

 

    	 	Page 4 of 20	 

     

    

 

The formula is: Hosting Fee = (Electrical
Meter Reading + Electrical Meter Reading * 3% Electrical Power Loss) * Electricity Rate $0.060/kWh.

 

The Hosting Fee is an all-inclusive
hosting price which covers all the hosting costs incurred by the Client, including, without limitation, Internet usage fees and hosting
management. The Client agrees to pay Host all fees, expenses, charges and obligations, including the Hosting Fee, incurred from time to
time in relation to the Services in accordance with the terms set forth on the “Schedule of Deposits, Fees & Payments”
attached hereto as Exhibit B.

 

		2.2.	Deposit. Within five (5) business days of receipt of the deposit invoice and after the Effective
Date of this Agreement, Client shall pay the Host a deposit equal to $ _____404,914__________ (the “Deposit”). Host shall
return the security deposit to Client within thirty (30) days upon termination of the Agreement if not used by the Host.

 

		3.	Invoices, Rates, and Payment Terms.

 

		3.1.	Invoice. Host shall provide an invoice to Client stating all applicable Services rendered (including
associated fees) and for any Repair Work provided under this Agreement. Host shall provide each invoice via email no later than five (5)
business days following the end of each calendar month.

 

		3.2.	Rates. Host shall invoice Client for all Services on a monthly basis as stated in this Agreement
or as agreed to by the Parties in writing from time to time.

 

		3.3.	Rate Changes. Host shall reach a mutual agreement with Client to modify its rates in the event
as follows:

 

		3.3.1.	At the end of any Term, provided Host notifies Client at least thirty (30) calendar days in advance of
the effective date of such rate change;

 

		3.3.2.	Upon a material and substantiated increase in any of Host’s operating costs, including, without
limitation, power rates, facility leasing rates, tax rates, or increased regulatory compliance costs, but not within the first six (6)
calendar months of any Term; or

 

		3.3.3.	If there is sustained decrease of greater than fifty percent (50%) in the market rate of BTC following
the Commencement Date for more than thirty (30) calendar days.

 

		3.4.	Payment Term. Client shall render full payment for all invoices within ten (10) calendar days of
their receipt. The Parties agree that time shall be deemed of the essence in the payment of each invoice. If any invoice amount shall
be due and unpaid on the fifteenth calendar day following such invoice’s applicable deadline (subject to a Disputed Invoice), the
Host will discuss with the Client to achieve a mutually agreed solution.

 

    	 	Page 5 of 20	 

     

    

 

		3.5.	Payment Currency and Taxes.

 

		3.5.1.	Except for payments made in United States Dollars (or equivalent USDT), Host reserves the right to reject
any payment, or require additional payment based on the conversion rate of such payment to United States Dollars (if applicable).

 

		3.5.2.	Each Party shall be responsible for the taxes (including, without limitation, sales, use, transfer, privilege,
excise, consumption, and other taxes), fees, duties, governmental assessments, impositions and levies that may be imposed or levied on
it in connection with this Agreement and/or the provision of Services hereunder under applicable law.

 

		3.6.	Disputed invoices. In the event Client disputes any Service or other charge listed in an invoice,
Host must be notified of such dispute in writing within seven (7) calendar days of the invoice date, and Client shall render full payment
for the remaining undisputed portion. Notices of disputes issued by Client more than seven (7) calendar days of the invoice date shall
be paid in full first but shall be investigated thoroughly. Host shall credit any disputed amounts resolved in favor of Client to Client’s
account, and any disputed amounts resolved in favor of Host shall be paid within ten (10) calendar days of such resolution.

 

		3.7.	Return of Client Mining Equipment. Upon Client’s request, and provided that Client is current
on all amounts due to Host, Host shall return Client Equipment upon termination of the Agreement. Shipping and handling costs for such
returns shall be paid by Client. Risk of loss during shipping shall be borne by Client.

 

		3.8.	Client Equipment Storage Fee. In the event this Agreement expires or is terminated and Client either
maintains a deficiency in payment(“Deficiency”) for Services rendered or does not arrange for the Client Equipment's
return shipping, and Client does not cure such breach within thirty (30) calendar days of the date of expiration or termination of the
Agreement, Host may assess a reasonable storage fee until such payment is rendered by Client in full.

 

		3.9.	Client Equipment Forfeiture. In the event Client fails to cure the Deficiency within ninety
(90) calendar days of the date of expiration or termination of the Agreement, the Host may convert the Deficiency to debt with Client
Equipment as collateral. The Parties shall renegotiate the term of the debt.

 

    	 	Page 6 of 20	 

     

    

 

		4.	Term and Termination.

 

		4.1.	Term. The term of the Agreement shall begin on the Commencement Date and end on the date one (1)
calendar year following of the Commencement Date (“Term”). Client has the option to terminate the Agreement. Client
is required to notify Host thirty (30) days prior to Termination. The Parties shall work together to reach mutual agreement on the Termination.
At the end of the Term, the Parties shall renegotiate the renewal of the Agreement, the Client is required to notify Host four (4) calendar
months prior to the end of the term for renewal.

 

		4.2.	Termination.

 

		4.2.1.	Termination by Either Party. This Agreement may be terminated by either Party, at any time, without
liability to the other Party, for any one or more of the following:

 

		4.2.1.1.	The non-terminating Party breaches any material term of this Agreement and fails to cure such breach (if
susceptible to cure) within thirty (30) calendar days after receipt of written notice of the same;

 

		4.2.1.2.	The non-terminating Party becomes the subject of a voluntary or involuntary proceeding relating to insolvency,
bankruptcy, receivership, liquidation, or reorganization for the benefit of creditors, and such petition or proceeding is not dismissed
within sixty (60) calendar days of the filing thereof; or

 

		4.2.1.3.	A court or other government authority having jurisdiction over the Services prohibits Host from furnishing
the Services to Client.

 

		4.2.2.	Termination by Host. Host may terminate this Agreement if Client fails to pay any sum for Services
when such payment is due (and such failure remains uncured for a period of thirty (30) calendar days).

 

		4.2.3.	Termination by Client. Client may terminate this Agreement if Host fails to furnish the Services
during any given two-month period or for 7 consecutive days excluding downtime caused to scheduled maintenance, demand response curtailment,
and/or force majeure.)

 

    	 	Page 7 of 20	 

     

    

 

		5.	Representations and Warranties.

 

		5.1.	Host Representations. Host represents and warrants to Client that:

 

		5.1.1.	Host has full power and authority to enter into this Agreement and perform Host’s obligations hereunder;

 

		5.1.2.	Host’s performance of its obligations hereunder will not violate any applicable laws or require
the consent of any third party;

 

		5.1.3.	The transaction herein meets the requirements of local laws, regulations, and industry norms of the jurisdiction
of the Data Center and/or Client Space, and the content of this transaction with the Client is protected by any applicable laws.

 

		5.1.4.	In the event Host provides any Services for Client Containers, Host shall be liable for the integrity
and security of such Client Containers.

 

		5.1.5.	Host shall be liable for the integrity and security of Client Equipment.

 

		5.1.6.	Host has clear title, free and clear of all security interests or liens, to Host Containers/Data Center,
transformers, equipment, cables and other essential factors required to maintain regular and safte operation of the mining sites. Host
shall has the legal right(lease/purchase of the land) to operate on the land.

 

		5.2.	No Other Host Warranties. The Services (including all materials supplied and used therewith) are
provided “as is,” “where is”, and Client’s use of the Services is at Client’s own risk. Host does
not make, and hereby disclaims, any and all representations and warranties, express or implied, whether in fact or by operation of law,
statutory or otherwise, including, but not limited to, any representation or warranty regarding the price or liquidity of any Digital
Asset, either now or in the future, warranties of merchantability, habitability, marketability, profitability, fitness for a particular
purpose, suitability, noninfringement, title, or arising from a course of dealing, or trade practice.

 

		5.3.	Client Representations. Client represents and warrants to Host that:

 

		5.3.1.	Client has full power and authority to enter into this Agreement and perform Client’s obligations
hereunder;

 

    	 	Page 8 of 20	 

     

    

 

		5.3.2.	Client will provide Client’s Bitcoin address to Host in compliance with Host’s Bitcoin address
procedure. Client will verify that Host has correctly installed Client’s Bitcoin address and will immediately notify Host if there
are any inaccuracies in Client’s Bitcoin address;

 

		5.3.3.	Client will provide all end-user equipment, software, credentials, and/or related equipment that Client
deems necessary or desirable for Client’s receipt of Digital Assets. Host does not provide, and Client shall hold Host harmless
from, user or access security with respect to any of Client’s Equipment or the Data Center and shall be solely liable for user access
security and network access to Client Equipment. Host will not provide any service to detect or identify any security breach of Client
Equipment or the Data Center. Host will not provide any tests, tools, or techniques intended to gain unauthorized access to Client Equipment
or Client’s personal property;

 

		5.3.4.	Client will at all times comply with the laws, regulations and rules of any applicable governmental or
regulatory authority, including, without limitation, Money Service Business regulations under the Financial Crimes Enforcement Network
(“FinCen”); state money transmission laws; laws, regulations, and rules of relevant tax authorities; applicable regulations
and guidance set forth by FinCEN; the Bank Secrecy Act of 1970; the USA PATRIOT Act of 2001; AML/CTF provisions as mandated by U.S. federal
law and any other rules and regulations regarding AML/CTF; issuances from the Office of Foreign Assets Control (“OFAC”); the
National Futures Association; the Financial Industry Regulatory Authority; and the Commodity Exchange Act;

 

		5.3.5.	Client will not use the Services to store or transmit infringing, libelous, or otherwise unlawful or tortious
material, or to store or transmit material in violation of third party privacy rights; use the Services to store or transmit Viruses;
attempt to gain unauthorized access to any Service or its related systems or networks; permit direct or indirect access to or use of any
Service in a way that circumvents a contractual usage limit; copy a Service or any part, feature, function, or user interface thereof
except as permitted under this Agreement; or use the Services in relation to any act deemed unlawful. Client will use commercially reasonable
efforts to prevent unauthorized access to or unauthorized use of the Services and shall notify Host promptly of any such unauthorized
access of use. For purposes of this section, “Viruses” means any malicious data, code, program, or other internal component
(e.g., computer worm, computer time bomb or similar component), which could damage, destroy, alter, or disrupt any computer program, firmware,
or hardware, or which could, in any manner, reveal, damage, destroy, alter, or disrupt any data or other information accessed through
or processed by the Service in any manner;

 

    	 	Page 9 of 20	 

     

    

 

		5.3.6.	Client has clear title, free and clear of all security interests or liens, to Client Equipment, including
the legal right to use, operate and locate Client Equipment in the Data Center; and

 

		5.3.7.	Client’s performance of its obligations hereunder and receipt of the Digital Assets will not violate
any applicable laws or require the consent of any third party.

 

		6.	Limitations of Liability and Indemnification.

 

		6.1.	Digital Assets. Host does not own any Digital Assets or associated equipment and does not own the
underlying software protocols of Digital Asset networks which govern the operation of such Digital Assets. Host is not responsible for
the operation of the underlying protocols and makes no guarantees regarding their security, functionality, or availability. In no event
shall Host be liable to Client or any other entity for any decision made or action taken by Client in reliance on, or in connection with
the Services. This limitation on liability includes, without limitation, any damage or interruptions caused by any computer viruses, spyware,
scamware, trojan horses, worms, or other malware that may affect Client’s computer or other equipment, or any phishing, spoofing,
domain typosquatting or other attacks (collectively, “Hacking”), or force majeure. If this disclaimer of liability
section is deemed to conflict with any other section of this Agreement, this disclaimer of liability section shall prevail and control
to the extent of the conflict. For purposes of this Agreement, “Digital Asset” means any digital asset, cryptocurrency,
virtual currency, digital currency, or digital commodity, including, without limitation, Bitcoin and Ether, which is based on the cryptographic
protocol of a computer network that may be: centralized or decentralized; closed or open-source; or used as a medium of exchange and/or
store of value.

 

		6.2.	Information Security. Client understands and agrees that use of telecommunications and data communications
networks and the Internet may not be secure and that connection to and transmission of data and information over the Internet and such
facilities provides the opportunity for unauthorized access to wallets, computer systems, networks, and all data stored therein. Information
and data transmitted through the Internet or stored on any equipment through which Internet information is transmitted may not remain
confidential, and Host does not make any representation or warranty regarding privacy, security, authenticity, and non-corruption or destruction
of any such information. Host does not warrant that the Services or Client’s use will be uninterrupted, error-free, or secure. Host
shall not be responsible for any adverse consequence or loss whatsoever to Client’s (or its users‟ or subscribers‟)
use of the Services or the Internet. Use of any information transmitted or obtained by Client from Host is at Client’s own risk.
Host is not responsible for the accuracy or quality of information obtained through its network, including as a result of failure of performance,
error, omission, interruption, corruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure,
theft or destruction or unauthorized access to, alteration of, or use of information or facilities, or malfunctioning of websites. Host
does not control the transmission or flow of data to or from Host’s network and other portions of the Internet, including the Digital
Asset networks. Such transmissions and/or flow depend in part on the performance of telecommunications and/or Internet services provided
or controlled by third parties. At times, actions or inactions of such third parties may impair or disrupt Host or Client’s connections
to the Services. Host does not represent or warrant that such events will not occur, and Host disclaims any and all liability resulting
from or related to such acts or omissions. If Host suspects any security violations have occurred related to Client’s account or
Digital Assets, Host may suspend access to Client’s account and hardware pending resolution.

 

    	 	Page 10 of 20	 

     

    

 

		6.3.	Consequential Damages. In no event will either Party be liable to the other for any type of incidental,
special, exemplary, punitive, indirect or consequential damages, including, but not limited to, lost revenue, lost profits, replacement
goods, loss of technology, rights or services, loss of data, or interruption or loss of use of service or equipment, even if such Party
was advised of the possibility of such damages, and whether arising under theory of contract, tort, strict liability or otherwise.

 

		6.4.	Limitation of liability. In no event shall host’s aggregate liability arising out of or related
to this agreement, whether arising out of or related to breach of contract, tort (including negligence) or otherwise, exceed the aggregate
amounts paid to host pursuant to this agreement for the two-year period preceding the event giving rise to the claim, except if such liability
was primarily due to the gross negligence or willful misconduct of the host.

 

		6.5.	Physical injuries. Client acknowledges and agrees that any employee, representative, agent, affiliate,
or invitee of Client who visits premises does so at their own risk. Host shall have no liability whatsoever for any harm to such persons
related to any such injuries resulting from visits to Host premises.

 

    	 	Page 11 of 20	 

     

    

 

		6.6.	Damage to Client Equipment. Host shall be responsible for any cosmetic damage or operation deficiency
from Client Equipment, or Client Containers, due to Host’s intentional acts, willful misconduct, gross negligence or omissions,
and Host shall repair or reimburse the Client for any such damages.

 

		6.7.	Legal Processes. Host and its affiliates, service providers, and their respective officers, directors,
agents, joint venturers, employees, and representatives may comply with any writ of attachment, execution, garnishment, tax levy, restraining
order, subpoena, warrant or other legal process, which Host reasonably and in good faith believes to be valid. Host may notify Client
of such process by electronic communication unless specifically ordered not to effect such notice. Host may charge Client for costs associated
with any legal process fees upon mutual agreement.

 

		6.8.	Host Indemnification. In addition to any other applicable rights under this Agreement, Client agrees
to indemnify, defend and hold harmless Host and its officers, managers, partners, members, agents, employees, affiliates, attorneys, heirs,
successors and assigns (collectively “Host Parties”) from any and all claims, demands, actions, suits, proceedings,
and all damages, judgments, liabilities, losses, and expenses, including, but not limited to, reasonable attorneys‟ fees (“Losses”),
arising from or relating to (a) any legal, regulatory or governmental action against Client, (b) any Loss by any of Client, its officers,
managers, partners, members, agents, employees, affiliates, attorneys, heirs, successors or assigns (collectively “Client Parties”),
(c) any claim by an affiliate of the Client Parties, including a customer, relating to, or arising out of, this Agreement or the Services
(including claims arising from or relating to interruptions, suspensions, failures, defects, delays, impairments or inadequacies in any
of the aforementioned Services), (e) any breach or nonperformance by Client Parties of any provision or covenant contained in this Agreement
or the Services, or (f) any claim related to Hacking.

 

		6.9.	Client Indemnification. The Host shall indemnify, defend and hold harmless the Client and its respective
Affiliates, officers, directors, employees, agents, successors and assigns from and against any and all Indemnifiable Losses resulting
from or arising out of: (a) any inaccuracy in or breach or non- performance of any of the Host's representations and warranties, or other
covenants or agreements in this Agreement or any other transaction document by the Host, (b) the failure of the Host to perform or observe
fully any covenant, agreement or other provision to be performed or observed by it pursuant to this agreement or any other transaction
document, or (c) any other matters, things or events which give rise to any Indemnified Party suffering or incurring Indemnifiable Losses
with respect to its or its Affiliates’ investments in the Client. If and to the extent that such indemnification is unenforceable
for any reason, the Host will make the maximum contribution to the payment and satisfaction of such indemnified liabilities permissible
under applicable Law.

 

    	 	Page 12 of 20	 

     

    

 

		7.	Insurance.

 

		7.1.	Client Insurance. Client shall comply with the following insurance requirements:

 

		7.1.1.	Client shall procure, pay for and keep in full force and effect: (i) commercial general liability insurance,
including property damage, against liability for personal injury, bodily injury, death and damage to property occurring in or about, or
resulting from an occurrence in or about, the Host Facility with combined single limit coverage of not less than $2,000,000, which insurance
shall contain a “contractual liability” endorsement insuring performance of Client’s obligation to indemnify Host contained
in Section [6.6]; and (ii) fire and property damage insurance in a “Causes of Loss - Special Form” (formerly known as “All
Risk”) policy insuring Client's trade fixtures, personal property, equipment and the Client Equipment (during the Term) for their
full actual replacement cost.

		7.1.2.	Where applicable and required by Client, each policy of insurance required to be carried by Client pursuant
to this Section: (i) shall name Client and such other parties in interest as Host reasonably designates as additional insured; (ii) shall
be primary and not secondary or contributing; (iii) shall be in a form and carried with companies reasonably acceptable to Host; (iv)
shall provide that such policy shall not be subject to cancellation, lapse or chance except after at least ten (10) days prior written
notice to Host; and (v) shall contain a cross liability endorsement and a “severability” clause.

 

		7.1.3.	A copy of certificates evidencing the insurance required to be carried by Client pursuant to this Section
(appropriately authenticated by the insurer) shall be delivered to Host prior to the Commencement Date. If Client fails to procure and
maintain such insurance, Host may, but need not, procure and maintain the same, upon not less than thirty (30) days’ prior written
notice to Client, and Client shall pay Host as additional fees the cost thereof.

 

		7.2.	Release and Waiver of Subrogation. The Parties hereto release each other, and their respective
agents and employees, from any liability for injury to any person or damage to property that is caused by or results from any risk insured
against under any valid and collectible insurance policy carried by either of the parties or required under this Agreement, except if
such liability was primarily due to the gross negligence or willful misconduct of the otherwise released party. Each Party shall cause
each insurance policy obtained by it to provide that the insurer waives all right of recovery by way of subrogation against the other
party and its agents and employees to the extent released above. The provisions of this Section shall survive the expiration or sooner
termination of this Agreement.

 

    	 	Page 13 of 20	 

     

    

 

		8.	Confidentiality.

 

		8.1.	Disclosure and Use. Each Party agrees that it will not use in any way, nor disclose to any third
party, the other Party’s Confidential Information, and will take reasonable precautions to protect the confidentiality of such information,
as stringently as it takes to protect its own Confidential Information, but in no case will the degree of care be less than reasonable
care. Nothing herein shall preclude disclosure by a Party to that Party’s attorneys, accountants and employees who have a bona fide
need to know the other Party’s Confidential Information in connection with the receiving Party’s performance under this Agreement.
Each Party agrees to only make copies of the other’s Confidential Information for purposes consistent with this Agreement, and each
Party shall maintain on any such copies a proprietary legend or notice as contained on the original or as the disclosing Party may request.
For purposes of this Section 8.1, “Confidential Information” means information which:

 

		8.1.1.	Derives actual or potential economic value from not being generally known to, and not available through
proper means, by other persons who could obtain economic value from receipt or use of such information;

 

		8.1.2.	Is the subject of reasonable efforts by its owner to maintain its confidentiality or secrecy; or

 

		8.1.3.	Is by its nature confidential, trade secrets or otherwise proprietary to its owner.

 

Confidential information includes
the terms and conditions of this Agreement, software source and object code, inventions, know-how, data, formulas, patterns, compilations,
programs, devices, methods, techniques, drawings, configurations, plans, processes, financial and business plans, names of actual or potential
clients or suppliers, Data Center configuration, and proprietary technology developed or created by Host and Client, including operations,
design, content, hardware designs, algorithms, software (in source and object forms), user interface designs, architecture, class libraries,
and documentation (both printed and electronic), know-how, trade secrets and any related intellectual property rights throughout the world,
and any derivative works, improvements, enhancements or extensions thereof.

 

    	 	Page 14 of 20	 

     

    

 

		8.2.	Exclusions from Confidentiality Obligations. Notwithstanding the confidentiality obligations required
herein, neither Party’s confidentiality obligations hereunder shall apply to information which:

 

		8.2.1.	Is already known to the receiving Party (other than the terms of this Agreement); or

 

		8.2.2.	Is required to be disclosed by Law, provided, however, if either Party is at any time requested or required
to disclose any information supplied to it in connection with this Agreement, the Party agrees to provide the other Party with prompt
notice of such request.

 

		9.	Miscellaneous Provisions.

 

		9.1.	Amendment. No provision of the Agreement may be amended, superseded, or otherwise modified unless
the amendment or modification is agreed to in writing and signed by the Parties.

 

		9.2.	Relocation of Client Equipment or Client Space. If it is necessary or desirable for Host’s efficient
use of the Data Center to relocate the Client Equipment or Client Space to another area of the Data Center, the Parties shall cooperate
in good faith to facilitate such relocation. Host shall be solely liable for the costs incurred in connection with any such relocation.
Client shall be solely liable for costs incurred in connection with relocation made by Host at the request of Client. Host shall use commercially
reasonable efforts to minimize and avoid any interruption in Services during such relocation.

 

		9.3.	Force Majeure. In no event shall Host be responsible or liable for any failure or delay in the
performance of its obligations arising out of the Agreement caused by, directly or indirectly, forces beyond its control, including, without
limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes
or acts of God, epidemics, pandemics and related health disasters, and interruptions, loss, local, state, or national government acts,
delays or conflicts with shippers, or malfunctions of utilities, communications, or computer (software and hardware) services.

 

		9.4.	Notice. All notices, requests, consents, claims, demands, waivers, and other communications hereunder
shall be in writing and addressed to either Party as set forth in this Section. All notices shall be delivered by internationally recognized
overnight courier (with all fees prepaid) or electronic mail if adequate confirmation of receipt is provided. Except as otherwise provided
in this Master Agreement, a notice is effective only if (i) the receiving Party has received the notice and (ii) the Party giving the
notice has complied with the requirements of this Section. Notice is deemed received: in the case of internationally recognized overnight
courier, the date and time the courier confirms delivery; or in the case of electronic mail, the date and time the recipient’s server
receives the electronic mail. Such communications must be sent to the respective parties at the following addresses (or at such other
address for a party as shall be specified in a notice given in accordance with this Section):

 

    	 	Page 15 of 20	 

     

    

 

If to Host:                  Your
Choice Four CA Inc 

19800 MacArthur
Blvd

Irvine, CA
92612

 

Email:

 

Attention:

 

If to Client:                 SonicHash LLC

375 Park Ave,
Fl 1502, Seagram Building

New York, NY 10152

 

Email:

 

Attention: Jiaming
Li

 

		9.5.	Non-Circumvention. Client agrees not to contact persons or entities introduced by Host without
the prior written consent of Host. Furthermore, Client agrees that Client shall not utilize confidential information nor consummate any
transaction, for fees or otherwise, with any entity (including such entity's affiliates and related entities) introduced by Host without
providing compensation to Host in an amount deemed acceptable to Host at Host‘s sole discretion. The provisions of this Subsection
shall apply during the term of this Agreement and for two (2) calendar years thereafter.

 

		9.6.	Non-Solicitation. During the term of this Agreement, and for two (2) calendar years thereafter,
Client shall not induce any employee or contractor of Host to leave Host’s employ or contractual relationship or hire any such employee
or contractor without Host’s prior written consent. Notwithstanding, an employee or contractor shall not be deemed to have been
solicited or as a result hired for employment or contract solely as a result of a general public advertisement or other such general solicitation
of employment.

 

    	 	Page 16 of 20	 

     

    

 

		9.7.	Non-Disparagement. Each Party agrees to take no action which is intended, or would reasonably be
expected, to harm the other Party or its reputation or which would reasonably be expected to lead to unwanted or unfavorable publicity
to the other Party. Such actions include, without limitation, disparaging remarks, comments or statements that impugn the character, honesty,
integrity, morality or business acumen or abilities in connection with any aspect of the operation of the other Party.

 

The provisions of this Section do
not extend to statements made by either Party when compelled by an authority of law; provided, however, that the Party making such statement
informs the other Party (unless explicitly ordered not to do so by such legal authority).

 

		9.8.	Assignment. Neither the Agreement nor any of the rights, interests, or obligations hereunder may
be assigned by either Party (whether by operation of law or otherwise) without the prior written consent of the non-assigning Party. Subject
to the preceding sentence, Host may assign the Agreement to its affiliates, parent, subsidiaries, or successors-in-interest with Client’s
consent via written notice to Client. Subject to the foregoing, the Agreement shall be binding upon and inure to the benefit of and be
enforceable by the Parties and their respective successors and assigns.

 

		9.9.	Entire Agreement. Unless specifically provided herein, this Agreement contains all of the understandings
and representations between the Parties relating to the subject matter hereof and supersede all prior and contemporaneous understandings,
discussions, agreements, representations, and warranties, both written and oral, regarding such subject matter.

 

		9.10.	Severability. If any term or provision of the Agreement is held invalid, illegal, or unenforceable
in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of the Agreement or
invalidate or render unenforceable such term or provision in any other jurisdiction.

 

		9.11.	Waiver. No waiver by either Party of any breach by the other Party of any term or provision of
the Agreement to be performed by the other Party shall be deemed a waiver of any similar or dissimilar term or provision at the same or
any prior or subsequent time, nor shall the failure of or delay by either Party in exercising any right, power, or privilege under the
Agreement operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right, power,
or privilege.

 

    	 	Page 17 of 20	 

     

    

 

		9.12.	Third Party Beneficiaries. There shall be no third-party beneficiaries to this Agreement.

 

		9.13.	Governing Law. The Agreement and all related documents including all exhibits attached hereto,
and all matters arising out of or relating to this Agreement, whether sounding in contract, tort, statute, or otherwise, are governed
by, and construed in accordance with the laws of the State of Florida (including its statutes of limitations and choice of law statutes),
without giving effect to the conflict of laws provisions thereof to the extent such principles or rules would require or permit the application
of the laws of any jurisdiction other than those of the State of Florida.

 

		9.14.	Alternative Dispute Resolution. Unless the Parties agree otherwise in writing, in the event a dispute
arises from, or related to, the terms or performance of the Agreement, the Parties shall engage in direct negotiation. In the event such
negotiations fail to amicably resolve any remaining dispute(s), the Parties shall proceed to binding arbitration before a single arbitrator
of the American Arbitration Association (“AAA”). In the event the Parties fail to agree on the identity of the arbitrator,
the arbitrator shall be assigned to the Parties by the AAA. Any arbitration shall be conducted in accordance with the AAA’s Commercial
Arbitration Rules and Mediation Procedures. Unless otherwise agreed to by the Parties in writing, the seat of arbitration shall be Miami,
Florida. The Parties shall bear their own dispute-related expenses.

 

		9.15.	Jury Trial Waiver. To the full extent permitted by law, the Parties hereby expressly waive any
and all right to a trial by jury on the issue to enforce any term or condition of the Agreement.

 

		9.16.	Class Action Waiver. Any proceedings to resolve or litigate any dispute arising from the provisions
of this Agreement will be conducted solely on an individual basis. Neither Party will seek to have any dispute heard as a class action,
private attorney general action, or in any other proceeding in which either party acts or proposes to act in a representative capacity.

 

		9.17.	Construction. The recitals and preamble are incorporated herein as if set forth at length.

    	 	Page 18 of 20	 

     

    

 

		9.18.	Counterparts. The Parties may execute this Agreement in multiple counterparts, each of which shall
be deemed an original, and all of which taken together shall constitute one and the same instrument. Delivery of an executed counterpart
of this Agreement via facsimile, electronic mail in portable document format (.pdf), or by any other electronic means shall have the same
effect as delivery of an executed original of this Agreement.

 

[Signature Page Follows] 

 

    	 	Page 20 of 20	 

     

    

  

IN WITNESS WHEREOF, the Parties have executed
this Hosting Agreement as of Effective Date. The Company:

  

	HOST:	 
	 	 
	 	 
	Your Choice Four CA, Inc.	 
	 	 
	 	 
	Print Name:	 Xiaojing Chen	 
	 	 	 
	 
	Signature:	 /s/ Xiaojing Chen	 
	 	 	 
	 
	Title:	 CEO	 
	 	 	 
	 
	CLIENT:	 
	 	 
	 
	SonicHash LLC	 
	 	 
	 
	Print Name: 	Jiaming
    Li	 
	 	 
	 
	Signature: 	/s/ Jiaming
    Li	 
	 	 
	 
	Title: 	Manager	 

  

    	 	Page 21 of 20Exhibit 10.2

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement (the “AGREEMENT”)
is made and entered into on May 31, 2022 by and between Lucas Wang (the “EXECUTIVE”) and Bit Origin Limited, 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 hereof.

 

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 April 27 2022 and ending on April 26 2025
(“INITIAL TERM”). the Initial Term shall automatically be extended one
additional year 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 Executive Officer and Chairman of the Board 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
in April 2022 and for three consecutive fiscal years during the Executive’s employment with the Company, the Company shall pay annual
Base Salary of US$ 240,000 to the Executive from the first year, as will be increased by 6% from the next year. 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. 

 

    	 	 	 

     

    

 

(b)            
Annual Bonus. The Executive shall
be eligible to receive an annual bonus the ("Annual Bonus"), as reasonably determined by the Company’s Board of Directors
and/or Compensation Committees. The Annual Bonus shall be paid
by the Company to the Executive promptly after determination.

 

(c)            
Equity Awards. The Company hereby provides the
Executive with grants of 1,896,066 restricted stock units ("Executive Award"), subject to the vesting schedule displayed below
("Vesting Schedule"). 

 

	Vesting
    dates	Number
    of Shares 
	Date
    of this agreement	632,022  (33.33%)
	April
    27, 2023	158,005  (8.33%)
	July
    27, 2023	158,005  (8.33%)
	October
    27, 2023	158,005  (8.33%)
	January
    27, 2024	158,005  (8.33%)
	April
    27, 2024	158,005  (8.33%)
	July
    27, 2024	158,005  (8.33%)
	October
    27, 2024	158,005  (8.33%)
	January
    27, 2025	158,005  (8.33%)
	Total	1,896,066  (100%)

 

In
the event of a Change of Control, specified in section 3.01(b), the remaining unvested rsus will vest immediately.

 

The Compensation shall also be
subject to the approval of Company’s Board of Directors and/or Compensation Committees.

 

(d)            
Vacation. Up to 20 working days per year. Executive may not carry over any unused vacation
from prior years. All the unused vacation will be reimbursed based on base salary.

 

(e)            
Sick Leave. Absence due to personal illness, excluding pregnancy, shall be allowed up
to ten (10) working days per calenda year, and shall not be accumulative from year to year. 

 

(f)            
Benefit. 

 

                
(i)                   The Company shall pay a signing bonus totaling US$ 2,000 to the Executive to procure work laptop/desktop
and essential stationery. In the event of Termination of Employment as defined in Article III during the Term, the executive shall promptly
pay back the signing bonus of US$ 2,000 to the Company.

 

             
(ii)                    The Company shall pay 100% of the medical insurance premium for the medical insurance coverage mutually
agreed by the Company and the Executive. 

 

(g)           
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. 

 

(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:

 

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.

 

                      
(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. 

 

    	 	 	 

     

    

 

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]

 

    	 	 	 

     

    

 

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

  

	 	
    Bit Origin Limited

	 	 
	 	/s/ Jiaming Li
	 	
    Name: Jiaming Li

    Title:   President 

	 	 
	 	 
	 	
    

    Executive 

	 	 
	 	/s/ Lucas Wang
	 	Lucas Wang

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]