Document:

Exhibit 10.1

 

 

 

 

SERVICE
AGREEMENT

This Service Agreement (“Agreement”)
is entered into as of the 1st day of January, 2020 (“Effective Date”) between China XD Plastics Company Limited (hereinafter
referred to as the “Company”) and Huiyi Chen, (hereinafter referred to as the “Director”), to provide the
terms under which the Director shall perform his functions as an elected independent member and audit committee Chairman of the
Board of Directors of the Company during his respective terms.

WHEREAS, the Company’s
business consists of the development, manufacture and sale of polymer composite materials, primarily for use in automotive applications
thereto (the “Business”) and the Company is a public company subject to the securities laws and rules and other applicable
laws and rules of the United States.

WHEREAS, the Company
recognizes the unique qualifications and contributions of the Director and desires to secure the services of the Director on the
terms and conditions set forth herein; and

WHEREAS, the Independent
Director is prepared to commit to such services in return for specific arrangements, compensation and other benefits on the terms
and conditions set forth herein.

NOW THEREFORE, in
consideration of the foregoing premises and the mutual covenants and agreements herein contained, the Company and the Director
do hereby agree as follows:

1.
DUTIES OF THE INDEPENDENT DIRECTOR:

1.1 The Director shall care out his duty
as an independent director to the Company and shall make himself available to perform such functions in keeping with all the applicable
laws, rules, and regulations of the United States of America, including, not limited to, the applicable securities laws and the
laws of the State of Nevada.

1.2 The Director hereby agrees faithfully to
render the service expected of an independent director and to promote the interests of the Company to the best of his ability and
keep his duty of care, confidentiality and loyalty, among other duties. The Director further agrees to devote the necessary time,
attention, skill, and best effort to the performance of his duties under this agreement. The Director shall not self-deal or do
anything harmful to the interest of the Company or its shareholders and shall not engage in any insider trading or similar activities.

1.3 The Director shall maintain his
standing and capacity as an “independent director” under the rules of the Securities and Exchange Commission and the
rules and regulations of relevant stock exchanges, and shall not engage in any employment or service with the Company or otherwise
that may impair such standing.

1.4 The Director shall serve on the audit
committee and the nominating committee in his capacity as an independent director.

 

 

    	  

    	 

    

 

 

 

 

2.   
COMPENSATION AND EXPENSES

During his term as a Director until the end
of his function as a Director:

2.1 The Company agrees to pay $5,000 per month
($60,000 annual) for services as such and for services as the chairperson of the Audit Committee.

2.2 The Company shall promptly pay or
reimburse the Director for all reasonable expenses actually and properly (in accordance with the Company’s policy) incurred
or paid by him in connection with the performance of his services under the Agreement (including, without limitation, travel expenses)
upon presentation of expense statements or vouchers or such other supporting documentation in such form and containing such information
as the Company may from time to time require. Any expense above $500 shall be pre-approved by the Company.

2.3 The Company shall have appropriate
Director and Officer Insurance coverage in place prior to the signing of this Agreement.

3.   
INDEMNIFICATION

The Company shall indemnify the Director
to the full extent permitted by the General Corporation Law of the State of Nevada.

4.   
MISCELLANEOUS

4.1 This Agreement expresses the entire understanding
and agreement of the parties and supersedes any and all prior agreements and understandings, whether written or oral, relating
in any way to the subject manner of this Agreement. This Agreement cannot be modified, amended, or supplemented except by a written
instrument or instruments executed by each of the parties hereto.

4.2 This Agreement shall have a term during
the period director serves as an director of the Company until such time that he is removed by the board of directors by a majority
vote or not elected by the next shareholder meeting, whichever comes earlier.

4.3 This Agreement shall be governed
by and construed under the laws of the State of Nevada. If any provision of this Agreement shall be invalid or unenforceable, this
Agreement shall be deemed amended but only to the extent required to make it valid and enforceable, and this Agreement as thereby
amended shall remain in full force and effect.

4.4 Arbitration is the only and exclusive
remedy to the parties for any dispute arising from this agreement. The Parties hereby expressly waive the right to any jury or
non-jury trial and hereby expressly submit to the exclusive jurisdiction of an arbitration tribunal under the auspices of the American
Association in the City of New York with such tribunal composed of three arbitrators of which one is selected by each party and
the third one selected by the two arbitrators already selected respectively by the parties.

 

 

    	  

    	 

    

 

 

 

 

4.5 The award of the tribunal shall be exclusive,
binding, final and enforceable against the parties. In any arbitration arising out of this Agreement, the prevailing party shall
be entitled to request, and receive an amount as and for the reasonable counsel fees and expenses incurred by the prevailing party
in connection with such action, proceeding, or arbitration.

IN WITNESS WHEREOF, the Company and
the Director have executed this Agreement as of the day and year first above written.

	Signed: /s/ Huiyi Chen    

Name in Print: Huiyi Chen

Title: Independent Director & Chairman of

the Audit Committee

Date: January 1, 2020

	 	Signed: /s/ Jie Han   

Name in Print: Jie Han

Title: Chairman, CEO

Date: January 1, 2020Exhibit
10.2

SERVICE
AGREEMENT

This Service Agreement (“Agreement”)
is entered into as of the 1st day of January, 2020 (“Effective Date”) between China XD Plastics Company Limited (hereinafter
referred to as the “Company”) and Guanbao Huang, (hereinafter referred to as the “Director”), to provide
the terms under which the Director shall perform his functions as an elected independent member and compensation committee Chairman
of the Board of Directors of the Company during his respective terms.

WHEREAS, the Company’s
business consists of the development, manufacture and sale of polymer composite materials, primarily for use in automotive applications
thereto (the “Business”) and the Company is a public company subject to the securities laws and rules and other applicable
laws and rules of the United States.

WHEREAS, the Company
recognizes the unique qualifications and contributions of the Director and desires to secure the services of the Director on the
terms and conditions set forth herein; and

WHEREAS, the Independent
Director is prepared to commit to such services in return for specific arrangements, compensation and other benefits on the terms
and conditions set forth herein.

NOW THEREFORE, in
consideration of the foregoing premises and the mutual covenants and agreements herein contained, the Company and the Director
do hereby agree as follows:

1.
DUTIES OF THE INDEPENDENT DIRECTOR:

1.1 The Director shall care out his duty
as an independent director to the Company and shall make himself available to perform such functions in keeping with all the applicable
laws, rules, and regulations of the United States of America, including, not limited to, the applicable securities laws and the
laws of the State of Nevada.

1.2 The Director hereby agrees faithfully to
render the service expected of an independent director and to promote the interests of the Company to the best of his ability and
keep his duty of care, confidentiality and loyalty, among other duties. The Director further agrees to devote the necessary time,
attention, skill, and best effort to the performance of his duties under this agreement. The Director shall not self-deal or do
anything harmful to the interest of the Company or its shareholders and shall not engage in any insider trading or similar activities.

1.3 The Director shall maintain his
standing and capacity as an “independent director” under the rules of the Securities and Exchange Commission and the
rules and regulations of relevant stock exchanges, and shall not engage in any employment or service with the Company or otherwise
that may impair such standing.

1.4 The Director shall serve on the compensation
committee and audit committee in his capacity as an independent director.

 

 

    	  

    	 

    

 

 

2.   
COMPENSATION AND EXPENSES

During his term as a Director until the end
of his function as a Director:

2.1 The Company agrees to pay ¥10,000 per month
(¥120,000 annual) for services as such and for services as the chairperson of the
Audit Committee.

2.2 The Company shall promptly pay or
reimburse the Director for all reasonable expenses actually and properly (in accordance with the Company’s policy) incurred
or paid by him in connection with the performance of his services under the Agreement (including, without limitation, travel expenses)
upon presentation of expense statements or vouchers or such other supporting documentation in such form and containing such information
as the Company may from time to time require. Any expense above $500 shall be pre-approved by the Company.

2.3 The Company shall have appropriate
Director and Officer Insurance coverage in place prior to the signing of this Agreement.

3.   
INDEMNIFICATION

The Company shall indemnify the Director
to the full extent permitted by the General Corporation Law of the State of Nevada.

4.   
MISCELLANEOUS

4.1 This Agreement expresses the entire understanding
and agreement of the parties and supersedes any and all prior agreements and understandings, whether written or oral, relating
in any way to the subject manner of this Agreement. This Agreement cannot be modified, amended, or supplemented except by a written
instrument or instruments executed by each of the parties hereto.

4.2 This Agreement shall have a term during
the period director serves as an director of the Company until such time that he is removed by the board of directors by a majority
vote or not elected by the next shareholder meeting, whichever comes earlier.

4.3 This Agreement shall be governed
by and construed under the laws of the State of Nevada. If any provision of this Agreement shall be invalid or unenforceable, this
Agreement shall be deemed amended but only to the extent required to make it valid and enforceable, and this Agreement as thereby
amended shall remain in full force and effect.

4.4 Arbitration is the only and exclusive
remedy to the parties for any dispute arising from this agreement. The Parties hereby expressly waive the right to any jury or
non-jury trial and hereby expressly submit to the exclusive jurisdiction of an arbitration tribunal under the auspices of the American
Association in the City of New York with such tribunal composed of three arbitrators of which one is selected by each party and
the third one selected by the two arbitrators already selected respectively by the parties.

 

 

    	  

    	 

    

 

 

4.5 The award of the tribunal shall be exclusive,
binding, final and enforceable against the parties. In any arbitration arising out of this Agreement, the prevailing party shall
be entitled to request, and receive an amount as and for the reasonable counsel fees and expenses incurred by the prevailing party
in connection with such action, proceeding, or arbitration.

IN WITNESS WHEREOF, the Company and
the Director have executed this Agreement as of the day and year first above written.

 

 

	Signed: /s/ Guanbao Huang   

Name in Print: Guanbao Huang

Title: Independent Director & Chairman of

the Compensation Committee

Date: January 1, 2020

	 	Signed: /s/ Jie Han   

Name in Print: Jie Han

Title: Chairman, CEO

Date: January 1, 2020

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