Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(the “Agreement”) is signed on March 1, 2021, effective as of March 1, 2021 (the “Effective Date”) by and
between DEHONG ZHANG (“Employee”) and FARMMI, INC.

 

WHEREAS, Farmmi desires
to employ Employee as the Chief Operating Officer of Farmmi, Inc., the parent company of its subsidiaries (all referred to collectively
herein as “Farmmi”); and

 

WHEREAS, Employee and
Farmmi desire to establish and govern the employment relationship under the terms and conditions set forth in this Agreement; and

 

NOW, THEREFORE, in consideration of the
mutual covenants and promises set forth herein, the adequacy of which is acknowledged, Employee and Farmmi hereby agree as follows:

 

1. Employment.
Employee is being employed by Farmmi as the Chief Operating Officer upon and subject to the terms and conditions of this Agreement.
During the term of his employment under this Agreement, Employee shall report to Farmmi’s Chief Executive Officer and Board
of Directors, or to such other persons as Farmmi may designate from time to time. Farmmi reserves the right to change Employee’s
title, duties, and reporting relationships as may be determined by it to be in the best interests of Farmmi.

 

2. Duties.

 

(a) During
the term of his employment under this Agreement, Employee will perform his duties hereunder at such time or times as Farmmi may
reasonably request. Employee’s duties may be varied by Farmmi from time to time without violating the terms of this Agreement
and shall include: (i) devoting his best efforts and his entire business time to further properly the interests and revenues of
Farmmi to the satisfaction of Farmmi, (ii) being subject to Farmmi’s direction and control at all times with respect to his
activities on behalf of Farmmi, (iii) complying with all rules, orders, regulations, policies, practices and decisions of Farmmi,
(iv) truthfully and accurately maintaining and preserving all records and making all reports as Farmmi may require, and (v) fully
accounting for all monies and other property of Farmmi of which he may from time to time have custody and delivering the same to
Farmmi whenever and however directed to do so.

 

(b) In
performing his duties, Employee shall not undertake any action inconsistent with or harmful to the best interests of Farmmi. Employee
shall perform his duties and responsibilities in a professional manner and consistent with the overall goals and objectives of
Farmmi and applicable federal, state, and local law.

 

(c) In
performing his duties, Employee shall be familiar with and shall comply with: (i) all applicable federal, state, and local laws
and regulations; (ii) the policies and decisions of Farmmi’s Board of Directors; and (iii) all policies, procedures, and
requirements enacted by Farmmi’s Board of Directors, as they may be amended from time to time. Employee agrees to adhere
to and support Farmmi’s policies and practices as set forth in any employee handbook or policy manual. Employee acknowledges
and agrees that Farmmi may amend or update its employee handbooks or policy manuals from time to time by written notice to Employee.

 

     

     

    

 

(d) During
his employment with Farmmi, Employee shall devote his full time, attention, and best efforts to the operations of Farmmi and the
fulfillment of his duties. Employee agrees that, during his employment with Farmmi, he will exercise the highest degree of loyalty
and will conduct his duties with the highest degree of care. During his employment with Farmmi, Employee shall not directly or
indirectly engage in any other business activity, whether as an employee, employer, consultant, principal, officer, or otherwise
and whether or not done for compensation, gain, or other financial or economic advantage.

 

3. Compensation.

 

(a) For
all services rendered by Employee to Farmmi, Hangzhou Nongyuan Network Technology Co., Ltd., a PRC company (“Nongyuan Network”)
(also referred to as 杭州农源网络科技有限公司
in Chinese) shall pay Employee an base gross annual salary of Three Hundred Thousand RMB (¥300,000).
Employee’s annual gross salary will be paid to Employee in accordance with Nongyuan Network’s standard payroll policies
and practices, beginning with the first regularly scheduled pay date following the Effective Date of this Agreement. Employee understands
and acknowledges that the base gross annual salary to be paid to him under this Agreement will be reduced by all applicable federal
and state payroll and withholding taxes and any other deductions authorized by Employee for the provision of employee benefits
or otherwise. Nongyuan Network will conduct an annual performance review of Employee, and any changes in Employee’s salary
shall be determined in the sole discretion of Nongyuan Network.

 

4. Expenses.
Farmmi shall reimburse Employee for all ordinary and necessary out-of-pocket expenses incurred and paid by Employee in the course
of the performance of Employee’s duties pursuant to this Agreement, provided that Employee incurred such expenses consistent
with Farmmi’s policies in effect from time to time with respect to travel, entertainment and other business expenses. To
receive such expenses reimbursement, Employee shall submit written requests, along with supporting documentation and/or receipts,
in compliance with Farmmi’s requirements with respect to the manner of approval and reporting of such expenses.

 

5. Additional
Benefits.

 

(a) Subject
to meeting the eligibility requirements to participate in such plans under the terms and conditions established by the plans, Employee
shall be eligible to participate in all employee benefits programs provided by Farmmi to its employees, as such may be established
and modified from time to time in the discretion of Farmmi. However, nothing contained in this Agreement shall be construed to
obligate Farmmi in any manner to maintain any existing plans, put into effect any plans not presently in existence, or provide
special benefits to Employee.

 

(b) During
the term of this Agreement, Employee shall be entitled to all national statutory annual paid vacation leave per year. Employee
understands and agrees that all vacation time shall be approved by the Chief Executive Officer before Employee takes such leave.
Employee’s ability to carry over unused vacation leave from year to year and to receive payment for unused vacation leave
upon termination of employment shall be governed by Farmmi’s policies in existence at the time of such occurrence.

 

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6. Indemnity.
Farmmi will indemnify Employee against all expenses, including legal fees, and against all judgments, fines and amounts paid in
settlement and reasonably incurred in connection with civil, criminal, administrative or investigative proceedings to which Employee
is party or are threatened to be made a party by reason of Employee acting as the Chief Operating Officer. To be entitled to indemnification,
Employee must have acted honestly and in good faith with a view to the best interest of Farmmi and, in the case of criminal proceedings,
Employee must have had no reasonable cause to believe Employee’s conduct was unlawful. Such limitation of liability does
not affect the availability of equitable remedies such as injunctive relief or rescission. These provisions will not limit Employee’s
liability under United States federal securities laws.

 

7. Termination.

 

(a) Either
party may terminate this Agreement at any time, for any reason or for no reason, with or without cause, upon thirty (30) days’
written notice to the other party.

 

(b) Notwithstanding
Paragraph 7(a) above, Employee’s employment with Farmmi shall terminate immediately upon: (i) the death, disability, or adjudication
of legal incompetence of Employee; (ii) Farmmi’s ceasing to carry on its business without assigning this Agreement; or (iii)
Farmmi becoming bankrupt. For purposes of this Agreement, Employee shall be deemed to be disabled when Employee has become unable,
by reason of physical or mental disability, to satisfactorily perform the essential functions of his job and there is no reasonable
accommodation that can be provided to enable him to perform satisfactorily those essential functions. Such matters shall be determined
by, or to the reasonable satisfaction of, Farmmi.

 

(c) Notwithstanding
Paragraph 7(a) above, Farmmi may immediately terminate this Agreement for cause, effective upon the provision of notice to Employee,
for the following reasons: (i) Employee’s repeated failure to satisfactorily and substantially perform his duties as an employee
of Farmmi (other than any such failure resulting from a disability), which failure has continued without remedy for more than thirty
(30) days after Farmmi has provided written notice thereof; (ii) Employee’s dishonesty, incompetence, willful misconduct,
gross negligence, or breach of fiduciary duty; (iii) failure to comply with the lawful directives of Farmmi’s Board of Directors;
(iv) failure to abide by and/or comply with any laws or regulations governing or relating to the operations of Farmmi; (v) failure
to abide by and/or comply with any other applicable laws, including, but not limited to, laws prohibiting discrimination and harassment
in the workplace; (vi) theft, misappropriation, or misuse of Farmmi’s property or assets; (vii) Employee’s conviction
of or plea of guilty or nolo contendere to any felony or any other crime involving theft, dishonesty, or fraudulent conduct; or
(viii) breach of Employee’s obligations under this Agreement.

 

(d) In
the event Employee’s employment with Farmmi is terminated by Employee or Employer for any or no reason, Farmmi shall pay
or provide to Employee any salary that Employee shall have earned and not yet received through the date of such employment termination,
determined on a pro rata basis based on the number of work days in the month of termination.

 

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8. Employee
Covenants.

 

(a) Non-Disclosure
and Return of Confidential Information.

 

(i)Employee
acknowledges that, as an employee of Farmmi, Employee will be provided access to, and may develop or assist in developing on Farmmi’s
behalf, confidential and proprietary information and trade secrets. As used in this Agreement, “Confidential Information”
shall be deemed to include, but shall not be limited to, information and materials related to Farmmi’s business procedures,
methods, and manufacturing processes for producing its products; marketing plans and strategies; customer lists, business histories,
customer presentations, strategic business opportunities and plans; market research, analyses of customer information, and prospective
customer lists; pricing of goods sold, margins, and sales strategies; accounting, operational, organizational, and financial data,
processes, and services; technical know-how; research and development; proprietary computer software and hardware; and any other
information that is not generally known to the public or within the industry in which Farmmi competes. “Confidential Information”
shall also be deemed to include information or material received by Farmmi from others and intended by them to be kept in confidence
by its recipients. “Confidential Information” shall not include Employee’s general skills and knowledge concerning
general business practices not specific to Farmmi’s business, nor shall it include information that has become widely disseminated
and generally available to the public through no wrongful act or omission on the part of Employee.

 

(ii) At
all times during and after employment with Farmmi, Employee shall take all reasonable steps necessary to preserve the confidential
and proprietary nature of Confidential Information and to prevent the inadvertent or accidental disclosure of Confidential Information.
Employee will not use, disclose, transfer, or make available any Confidential Information other than: (i) as required by the proper
performance of Employee’s duties for Farmmi; (ii) as authorized by Farmmi; and (iii) as required by an order or subpoena
from a court of competent jurisdiction and/or administrative agency, provided that, prior to such disclosure, Employee promptly
notifies Farmmi so that Farmmi may take appropriate action with such court or agency to protect its Confidential Information. Employee
will not remove any Confidential Information from Farmmi’s premises or make copies of such materials except for use in Farmmi’s
business. Employee shall not retain any tangible, intangible, or electronic copies of any Confidential Information after the termination
of his employment with Farmmi for any reason.

 

(iii) If
part of the Confidential Information is known by public, but other parts or the whole is not public knowledge yet, the whole Confidential
Information still has confidential value. Employee agrees to have non-disclosure covenant for such Confidential Information. Employee
shall not disclose such information directly or indirectly, or solicit any third party to put together Confidential Information
by collecting the public part(s).

 

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(iv) During
his employment with Farmmi, for the interest of Farmmi, Employee shall promptly report to Farmmi the Confidential Information arising
out of work, submit a written report, and assist Farmmi to obtain the right of such information. Such Confidential Information
shall be owned Farmmi exclusively. During employment with Farmmi, employee shall fully disclose all of his conceptions about Farmmi’s
business to Farmmi.

 

(v) The
compensation paid to Employee by Farmmi has included all the consideration for Employee to perform the covenants in Paragraph 8(a).

 

(vi) Employee
warrants that, unless Employee has stated to Farmmi in writing, Employee’s usage or disclosure of any confidential information
during employment with Farmmi does not violate any confidentiality agreement between Employee and any previous employer or other
party. No matter if Employee is bound by such confidentiality agreement, Employee shall not disclose it to Farmmi, or solicit Farmmi
to use any confidential information of Employee’s any previous employer or other party.

 

 

(b) Non-Compete.

 

(i)Employee
acknowledges that, during the course of his employment, Employee will be granted access to and may develop or assist in developing
Farmmi’s Confidential Information and goodwill. Employee recognizes and agrees that in light of his extensive access to and
knowledge of such Confidential Information and in order to protect Farmmi’s goodwill with its customers, Farmmi has a reasonable
and legitimate interest in protecting itself from unfair competition as set forth in subsection (ii).

 

(ii)Non-Compete
Period is the course of employment with Farmmi and a period of two (2) years after Employee’s
employment with Farmmi ceases (whether voluntarily or involuntarily and for whatever reason) . During the Non-Compete Period, Employee
shall not, on his own behalf or on behalf of any other person or entity, compete with Farmmi by engaging in
a position where Employee holds any registered or beneficial ownership/stock interest, or as its employee, consultant, management,
director or other capacity, holds any interest of any company or entity that competes with
the goods and services provided by Farmmi, or helps or assists such company by any way; (ii) usurp business opportunities provided
by other parties to Farmmi, use Farmmi’s resources to create any business opportunity for himself; take commission fee related
to Farmmi’s transactions, sign contracts or conduct transactions with Farmmi without proper approval under internal rules
of Farmmi; or conduct other actions detrimental to Farmmi’s interests and/or competitive position, (iii) use any of Farmmi’s
names, any other name that Farmmi uses to operate business, or any similar name, or use such name to build or create any entrepreneur
entity, organization or domain name, or use it in any other way without written consent of Farmmi, or (iv) call himself employee
of Farmmi or related with Farmmi in any way, after termination of his employment with Farmmi. This restriction shall only
apply within any geographic area serviced by Employee for Farmmi at any time during the one (1) year period preceding Employee’s
termination of employment.

 

(iii)During
the Non-Compete Period, if Employee continues performing all the covenants in Paragraph 8(b), Farmmi will pay Employee compensation.
The calculation of such compensation is: if Employee continues performing non-compete covenant within twenty (24) months after
the termination of employment, Farmmi will pay Employee compensation equaling to six (6)
months of base salary prior to the termination of employment and pay it month by month. Employee confirms that such compensation
is enough and reasonable. Employee further agrees that Farmmi has the right at its sole discretion to choose to pay consideration
for Employee to perform the covenants in Paragraph 8(b), or choose to cease payment of consideration to waive Employee’s
covenants in Paragraph 8(b). Farmmi has the right at its sole discretion to require Employee to continue to perform the non-compete
covenant (but the term shall not exceed 24 months after the termination of the employment).

 

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(iv)The benefits
obtained (including already obtained or agreed to obtain) by Employee through conducting restricted actions in the Non-Compete
Period shall belong to Farmmi.

 

(c) Non-Solicitation
of Customers. Employee specifically agrees that, at all times during his employment with
Farmmi and for a period of two (2) years Employee will not solicit or offer to any Customer of Farmmi any goods or services that
compete with the goods or services provided by Farmmi. For purposes of this Agreement, the term “Customer” means: (i)
any person or entity that contracted with Farmmi for goods or services at any time during the twelve (12) month period preceding
the Employee's termination of employment; and (ii) any person or entity to whom Farmmi made a proposal or presentation for the
provision of goods or services at any time during the six (6) month period preceding Employee’s termination of employment.
Except as set forth in Paragraph 8(b), this restriction is not intended to prohibit Employee from providing goods or services to
persons or entities who are not Customers of Company.

 

(d) Non-Solicitation
of Employees. Employee specifically agrees that, at all times during his employment with Farmmi and for a period of two (2)
years after Employee’s employment with Farmmi ceases (whether voluntarily or involuntarily and for whatever reason), Employee
shall not, on Employee’s own behalf or on behalf of any other person or entity, hire, recruit, solicit for employment, or
assist in solicitation or hiring any other employee who works for Farmmi. This includes, but is not limited to: (i) providing to
any such prospective employer the identities of any of Farmmi’s employees; (ii) providing to any such prospective employer
information about the quantity of work, quality of work, special knowledge, or personal characteristics of any person who is still
employed at the Farmmi at the time such information is provided; and/or (iii) assisting any of Farmmi’s employees in obtaining
employment with any such prospective employer through the dissemination of resumes and applications, or otherwise. Employee also
specifically agrees that he will not provide the information set forth in subparts (i), (ii), or (iii) above to any prospective
employer during interviews preceding possible employment.

 

(e) Intellectual
Property.

 

(i) Employee
agrees to disclose to Farmmi all inventions, ideas, works of authorship and other trade secrets made, developed and/or conceived
by him and arising out of Employee’s employment at all times during his employment with Farmmi and for a period of one (1)
year.

 

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(ii) Employee
further agrees that all such inventions, ideas, works of authorship and other trade secrets made shall be “works made for
hire” and that Farmmi shall be deemed the author thereof under the U.S. Copyright Act or other applicable law, and all work
product is and shall be free from any claim or retention of rights thereto on the part of Employee.

 

(iii) In
any event and at any time, Employee hereby irrevocably assigns to Farmmi any and all right, title interest in such inventions,
ideas, works of authorship and other trade secrets made, including any and all patents and/or copyrights in connection with any
of the foregoing, and agrees to do any and all acts necessary, and sign any and all instruments, which Farmmi may request to secure
all rights related to the foregoing in the United States or in any foreign country.

 

(iv) By
exhibit to this Agreement, Employee lists all inventions he owns, including the ones he invents by himself and the ones he invents
with others. All the inventions, completed prior to the employment with Farmmi, and owned by Employee, or although owned by third
party but Employee can use within the scope of agreement, are called Prior Inventions. If no exhibit discloses such inventions,
it deems that Employee states such Prior Invention does not exist. If, during his employment with Farmmi, Employee uses any Prior
Invention on products, service, procedure, or machine equipment of Farmmi, Farmmi automatically gets non-exclusive, free, irrevocable,
permanent and global license (including sublicensing to others through different levels of sublicense) to produce, modify, use
and sell such Prior Invention. In light of the foregoing, Employee agrees that, without prior written consent of Farmmi, Employee
shall not use any Prior Invention which has been used on Farmmi’s products or service, or authorize others to use.

 

(v) During
his employment with Farmmi, Employee confirms the compensation paid from Farmmi to Employee fully covers the work for enforcing
the invention, such as proposal of concept, creation, development, improvement or simplification. Employee represents to give up
all legal priority rights to apply patent or trademark, rights to transfer any invention or technology products, and rights to
claim or challenge the ownership of “works made for hire.”

 

(vi) Employee
acknowledges and agrees that the covenants and rights in Paragraph 8(e) will be effective for an indefinite period, and will not
be restricted by the termination of employment with Farmmi.

 

(f) Return
of Company Property.

 

Upon the request of
Farmmi or upon the termination of Employee’s employment with Farmmi for any reason, Employee shall return to Farmmi: (a)
all Confidential Information; (b) all other records, designs, patents, business plans, financial statements, manuals, memoranda,
lists, correspondence, reports, records, charts, advertising materials, and other data or property delivered to or compiled by
Employee by or on behalf of Farmmi or its operating subsidiaries, or their representatives, vendors, or customers that pertain
to Farmmi’s business, whether in paper, electronic, or other form; and (c) all keys, credit cards, computers, telephones,
PDA’s, equipment, and other property of Farmmi. Employee shall not retain or cause to be retained any copies of the foregoing.
Employee hereby agrees that all of the foregoing shall be and remain the property of Farmmi, and be subject, at all times to its
discretion and control.

 

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(g) Enforcement.

 

(i)Employee
and Farmmi have examined in detail the covenants and restrictions set forth in Paragraph 8 (including all subsections) of this
Agreement and agree that the restraints imposed upon Employee are reasonable in light of the legitimate interests of Farmmi and
are not unduly restrictive of Employee’s ability to earn a living following the termination of his employment.

 

(ii)Employee
understands and agrees that the covenants and restrictions set forth in Paragraph 8 (including all subsections) of this Agreement
survive the termination of his employment (regardless of the reason) and remain binding and enforceable against him according to
the restrictions’ respective terms.

 

(iii)If any
of the covenants contained in Paragraph 8 (including all subsections) of this Agreement are held by a court or other enforcement
authority to be overly broad by reason of time period, geography or scope, the court shall modify any time period, geography or
scope deemed overly broad to the maximum time period, geography or scope that such court or other enforcement authority finds reasonable
and enforceable in light of all the circumstances present at the time such determination is made and this Agreement shall be deemed
to be amended at such time to reflect such determination.

 

(iv)Employee
agrees that a breach by him of any of the covenants and restrictions set forth in Paragraph 8 (including all subsections) of this
Agreement will result in irreparable injury to Farmmi for which a remedy at law shall be insufficient. Employee agrees that in
the event of a breach or threatened breach of such covenants, Farmmi shall be entitled to temporary, preliminary, and permanent
injunctive relief without the need to prove irreparable harm and without the necessity of placing a bond for such injunction. The
application of any form of injunctive relief shall not make any other legal or equitable remedy unavailable.

 

(v) In
the event that the Employee is found by a court or other enforcement authority to have breached any of the covenants and restrictions
set forth in Paragraph 8 (including all subsections) of this Agreement, then the time periods set forth in such restrictions, if
any, shall automatically be extended by the length of time which Employee shall have been in breach of any of said provisions.

 

9. Survival
of Obligations. All obligations of Employee that by their nature involve performance after the expiration or termination of
Employee’s employment with Farmmi, or that cannot be ascertained to have been fully performed until after the expiration
or termination of Employee’s employment with Farmmi, shall survive the expiration or termination of this Agreement. Except
as otherwise specifically provided in this Agreement, all of Farmmi’s obligations under this Agreement will terminate at
the time this Agreement or Employee’s employment with Farmmi is terminated for any reason.

 

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10. Notice.
Any notice, request, consent or communication under this Agreement shall be effective only if it is in writing and personally delivered
or sent by certified mail, return receipt requested, postage prepaid, or by a nationally recognized overnight delivery service,
with delivery confirmed, addressed as follows:

 

	If to Farmmi:	Farmmi, Inc.
	 	Fl 1, Building No. 1, 888 Tianning Street, Liandu District
	 	Lishui, Zhejiang Province
	 	People’s Republic of China 323000
	 	 
	With a Copy to:	Anthony W. Basch
	 	Kaufman & Canoles, P.C.
	 	Two James Center, 14th Floor
	 	1021 E. Cary St.
	 	Richmond, VA 23219
	 	 
	If to Employee:	DEHONG ZHANG
	 	Fl 1, Building No. 1, 888 Tianning Street, Liandu District
	 	Lishui, Zhejiang Province
	 	People’s Republic of China 323000

 

or such other persons and/or addresses
as shall be furnished in writing by any party to the other party, and shall be deemed to have been given only upon its delivery
in accordance with this Paragraph 10.

 

11. No
Conflicts. Employee represents and warrants to Farmmi that neither the execution nor delivery of this Agreement, nor the performance
of Employee’s obligations hereunder will conflict with, or result in a breach of, any term, condition, or provision of, or
constitute a default under, any obligation, contract, agreement, covenant or instrument to which Employee is a party or under which
Employee is bound, including, but not limited to, the breach by Employee of a fiduciary duty to any former employers.

 

12. Defined
Terms. A term defined in any part of this Agreement shall have the defined meaning wherever the term is used in this Agreement.

 

13. Assignment.

 

(a) This
Agreement may be assigned by Farmmi to any successor, subsidiary or affiliated entity or in connection with sale, merger, or consolidation
of Farmmi with another entity. Additionally, this Agreement shall be deemed to have been assigned without any further action on
the part of Farmmi to a successor entity in the event of a sale, merger, or consolidation of Farmmi. Such assignment may
occur without prior notice to Employee and without the provision of any additional consideration to Employee.

 

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(b) Employee
understands and agrees that the duties and obligations of Employee under this Agreement are personal in nature and cannot be assigned,
in whole or in part, by Employee.

 

14. Waiver.

 

(a) Any
failure of any party on one or more occasions to enforce or require the strict keeping and performance of any of the terms and
conditions of this Agreement shall not constitute a waiver of such terms and conditions of this Agreement, shall not constitute
a waiver of such term or condition at any future time, and shall not prevent any party from insisting on the strict keeping and
performance of such terms and conditions at a later time.

 

(b) The
existence of any claim or cause of action of the Employee against Farmmi, whether predicated upon an alleged breach of this Agreement
or otherwise, shall not relieve Employee of his obligations under this Agreement and shall not constitute a defense to the enforcement
by Farmmi of any provision of this Agreement, including but not limited to the covenants contained in Paragraph 8 of this Agreement.

 

15. Governing
Law. This Agreement is deemed to have been entered into in China and shall be construed and interpreted at all times and in
all respects in accordance with the laws of China without regard to the principles of conflicts of laws, and jurisdiction and venue
for any action relating in any manner to this Agreement shall be in a court of competent jurisdiction located in or having jurisdiction
over China.

 

16. Attorneys’
Fees. In the event there is any litigation to enforce this Agreement, the prevailing party will be awarded its/his costs, expenses,
and reasonable attorneys’ fees.

 

17. Severability.
In the event that any provision of this Agreement shall be determined by a court or tribunal having proper jurisdiction to be invalid,
or illegal, or unenforceable, the remainder of this Agreement shall not be affected but shall continue in full force and effect
as though such invalid, illegal or unenforceable provision were not originally part of this Agreement.

 

18. Amendment.
This Agreement may not be amended or modified except by an agreement in writing signed by all the parties hereto.

 

19. Construction
of Agreement. Each party to this Agreement agrees and acknowledges that no presumption, inference, or conclusion of any kind
shall be made or drawn against the drafter or drafter(s) of this Agreement. Each party to this Agreement also agrees and acknowledges
that he/it has contributed to the final version of this Agreement through comments and negotiations.

 

20. Headings.
The headings used in this Agreement are for convenience only and shall not be used to construe or interpret the meaning or intent
of any provision.

 

21. Entire
Agreement. This Agreement represents and contains the entire agreement and understanding between the parties with respect to
the terms and conditions of this Agreement and supersedes any and all prior and contemporaneous written and oral agreements, understandings,
representations, inducements, promises, warranties, and conditions between the parties with respect to the terms and conditions
of this Agreement. No agreement, understanding, representation, inducement, promise, warranty or condition of any kind with respect
to the terms and conditions of this Agreement shall be relied upon by either party unless expressly incorporated herein.

 

22. Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which
shall constitute one agreement that is binding upon both of the parties hereto, notwithstanding that both parties are not signatories
to the same counterpart.

 

[Signature page follows]

 

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[Signature page]

 

IN WITNESS WHEREOF, the parties
have executed this Employment Agreement to be effective as of the date indicated above:

 

	 	 	
        FARMMI, INC.

        /s/ (Corporate Chop)

	 	 	 
	 	 	 
	/s/ Dehong Zhang	 	/s/ Yefang Zhang
	DEHONG ZHANG	 	YEFANG ZHANG
	 	 	 
	Date:
March 1, 2021	 	Date:
March 1, 2021

 

    11Document

Exhibit 4.5

RESTRICTED STOCK AWARD AGREEMENT
This RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”), upon acceptance by the recipient of the Award Shares (the “Participant”) within 60 days of [the date of grant as stated on the Notice of Award (the “Award Date”) through the acknowledgement procedures of the Computershare Employee Online portal (https://www-us.computershare.com/EmployeePortal/) (“Computerhsare”)], between 3D SYSTEMS CORPORATION, a Delaware corporation (the “Company”), and the Participant is effective as of the Award Date.
The 2015 Incentive Plan of 3D Systems Corporation (the “Plan”) is designed to assist the Company and its subsidiaries and affiliates in attracting and retaining employees and consultants of outstanding competence by providing an incentive that permits the persons responsible for the Company’s growth to share directly in that growth and to further the identity of their interests with the interests of the Company’s stockholders.  The Participant is eligible to receive grants of shares of the Company’s common stock, $0.001 par value per share (“Common Stock”), under Section 7 of the Plan.
NOW, THEREFORE, the Company and the Participant mutually agree as follows:
Section 1.  Award of Restricted Stock
Subject to the terms and conditions hereinafter set forth [and as set forth on the Participant’s Notice of Award from Computershare], the Company hereby grants to the Participant the shares of Common Stock [number of shares] (the “Award Shares”).  The Participant will receive evidence of ownership of such shares of Common Stock within a reasonable time after acceptance of the Award Shares [and the terms and conditions of this Agreement through the Computershare online acknowledgement procedures].
Section 2.  Terms and Conditions of Plan 
The Participant agrees that the Award Shares shall be held in accordance with the terms and conditions of the Plan.  The authority of the Company to enter into this Agreement and to issue shares of Common Stock pursuant hereto is derived exclusively from the Plan.  If any terms or conditions of this Agreement conflict with any terms or conditions of the Plan, the terms and conditions of the Plan shall control. Any capitalized terms not defined herein shall have the meaning assigned to such term in the Plan.  The Participant acknowledges that a copy of the Plan has been made available to the Participant.
Section 3.  Restriction on Transfer
Until the Participant’s interest in the Award Shares become vested and nonforfeitable under Section 4 of this Agreement and except as permitted by Section 4 of this Agreement and Section 10 of the Plan, none of the Award Shares, or any interest therein, shall be sold, transferred, pledged, encumbered or otherwise disposed of by the Participant so long as the 
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Exhibit 4.5

Participant shall remain a Participant of the Company, except that such restrictions may expire earlier as provided by Section 9 of the Plan.
Section 4.  Vesting; Forfeiture and Period of Restriction
Subject to the satisfaction of any and all of the conditions set forth in this Agreement, including the requirement to accept the Award Shares and the terms of this Agreement [pursuant to the Computershare acknowledgement procedures] within 60 days of the Award Date,  the Participant’s interest in the Award Shares shall be vested and nonforfeitable on [the first anniversary of the Award Date set forth on the Notice of Award] if the Participant remains in the continuous employ of the Company, a Subsidiary or an Affiliate from Award Date until such first anniversary.
Any Award Shares that have not become vested and nonforfeitable on or before the date of a termination of the Participant’s employment (for any reason) shall be forfeited on the date that the Participant is no longer employed by the Company, a Subsidiary or an Affiliate.
Notwithstanding anything contained in Section 7 of the Plan to the contrary, the Compensation Committee of the Board of Directors of the Company (the “Committee”) may, in its sole discretion, waive the forfeiture period and any other conditions set forth in this Agreement under appropriate circumstances (including, but not limited to, the death, Disability or Retirement of the Participant or a material change in circumstances arising after the date of an Award) and subject to such terms and conditions (including forfeiture of a proportionate number of the Award Shares) as the Committee shall deem appropriate.
Section 5.  Undertakings of Participant 
The Participant represents and agrees that he or she will comply with the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Securities Exchange Act”), with respect to the Award Shares, and he or she will indemnify the Company for any costs, liabilities and expenses that it may sustain by reason of any violation of the Securities Act or the Securities Exchange Act caused by any act or omission on his or her part with respect to the Award Shares.
Section 6.  Restrictive Legends and Stop-Transfer Instructions
The obligation of the Company to issue Common Stock upon execution of this Agreement shall be subject to all applicable laws, rules and regulations and to such approvals by governmental agencies as may be required.  Stock certificates evidencing Common Stock issued under this Agreement may bear such restrictive legends and/or appropriate stop transfer instructions may be issued to the Company’s transfer agent as the Company and the Company’s counsel deem necessary under applicable law or pursuant to this Agreement.
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Exhibit 4.5

Section 7.  Registration of Shares
The Company shall use its reasonable commercial efforts to cause the shares of Common Stock issuable in connection with the Plan to be registered under the Securities Act, but shall otherwise be under no obligation to register any shares of Common Stock issued under the Plan under the Securities Act or otherwise.  If, at the time any shares of Common Stock are issued pursuant to the Plan, there shall not be on file with the Securities and Exchange Commission an effective Registration Statement under the Securities Act covering such shares of Common Stock, the Participant to whom such shares are to be issued will execute and deliver to the Company upon receipt by him or her of any such shares an undertaking, in form and substance satisfactory to the Company, that (i) such Participant has had access or will, by reason of such person’s employment or service with the Company, or otherwise, have access to sufficient information concerning the Company to enable him or her to evaluate the merits and risks of the acquisition of shares of the Company’s Common Stock pursuant to the Plan, (ii) such Participant has such knowledge and experience in financial and business matters that such person is capable of evaluating such acquisition, (iii) it is the intention of such Participant to acquire and hold such shares for investment and not for the resale or distribution thereof, (iv) such Participant will comply with the Securities Act and the Exchange Act with respect to such shares, and (v) such Participant will indemnify the Company for any cost, liability and expense that the Company may sustain by reason of any violation of the Securities Act or the Exchange Act occasioned by any act or omission on his or her part with respect to such shares.
Section 8.  No Rights in Common Stock
The prospective recipient of a Restricted Stock award shall not have any right with respect to such award, unless and until the recipient has agreed to be bound by this agreement by acknowledging acceptance of the award and otherwise complied with the terms and conditions of such award and of Section 7 of the Plan, and then only from the date such person becomes the record owner of the shares of Restricted Stock.  Once the conditions in the foregoing sentence have been satisfied, and except as provided in Section 4 of this Agreement, the Participant shall have with respect to an award of Restricted Stock all the rights of a stockholder of the Company, including the right to vote and to receive cash dividends (if any).  The Committee, in its sole discretion, as determined at the time of the award, may permit or require such cash dividends (if any) to be reinvested in additional Restricted Stock, provided that sufficient shares of Common Stock are available under Section 3 of the Plan for such reinvestment (taking into account then outstanding awards under the Plan).  Stock dividends issued with respect to Restricted Stock shall be treated as additional shares of Restricted Stock that are subject to the same restrictions and other terms and conditions that apply to the shares with respect to which such dividends are issued.
Section 9. Notices 
Any notice that either party hereto may be required or permitted to give to the other shall be in writing and, except as otherwise required herein, may be delivered personally or by mail to the Company at 333 Three D Systems Circle, Rock Hill, South Carolina 29730, attention of the 
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Exhibit 4.5

Secretary of the Company, or to the Participant at the address set forth below or at such other address as either party may designate by notice to the other.
Section 10. Adjustments
The number of Award Shares of Common Stock subject to the award under this Agreement and the terms of this Agreement shall be subject to adjustment in accordance with Section 3(a) of the Plan.  
Section 11.  Successors
The provisions of the Plan shall be binding upon and inure to the benefit of all successors of any person receiving Common Stock of the Corporation pursuant to the Plan, including, without limitation, the estate of such person and the executors, administrators or trustees thereof, the heirs and legatees of such person, and any receiver, trustee in bankruptcy or representative of creditors of such person.
Section 12.  Company’s Right to Terminate Retention; Exclusivity
Nothing contained in the Plan shall prevent the Board from adopting other or additional compensation arrangements or modifying existing compensation arrangements for Participants, subject to stockholder approval if such approval is required by applicable statute, rule or regulation; and such arrangements either may be generally applicable or applicable only in specific cases.  Neither the adoption of the Plan nor the grant to the Participant of the Award Shares shall confer upon any Participant any right to continued employment or service with the Company, a Subsidiary or an Affiliate.
Section 13.  Payment of Withholding Tax 
The Participant undertakes to comply with any appropriate requests that may be made by the Company in respect of the withholding of any federal, state or local taxes and any other charges that may be required by law to be withheld by reason of a grant or the issuance of shares of Award Shares.
Section 14. Applicable Law 
This Agreement shall be governed and construed in accordance with the laws of the State of Delaware.
Section 15.  Severability
If any provision of this Agreement is held to be illegal, void or unenforceable for any reason, it shall be adjusted rather than voided, if possible, in order to achieve the intent of the parties to the extent possible. In any event, all other provisions of this Agreement shall be deemed valid and enforceable to the fullest extent possible.  
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Exhibit 4.5

Section 16. Appendix
Notwithstanding any provision in this Agreement, the award under this Agreement shall be subject to any special terms and conditions set forth in any Appendix to the Agreement for your country of residence.  Moreover, if you relocate to one of the countries included in the Appendix, the special terms and conditions for such country will apply to you, to the extent the Company determines that the application of such terms and conditions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan. The Appendix constitutes part of this Agreement.
Section 17.  Electronic Delivery
The Company may, in its sole discretion, decide to deliver any documents related to your current or future participation in the Plan by electronic means or to request your consent to participate in the Plan by electronic means, including through the Terms and Conditions page of the Computershare Employee Portal.  You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company, including Computershare.

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