Document:

Exhibit 10.1  

 

Code of Ethics

 

 

 

OVERVIEW

 

MicroChannel Technologies Corporation (“MicroChannel”)
has adopted a Code of Ethics that applies to all Officers, Directors, and Employees of the company and its affiliates (herein collectively
referred to as, “Employee” or “Employees”). 

In so doing, this Code of Ethics demands the highest standards of business conduct required of all Employees. 

The Code is part of MicroChannel’s ongoing effort to comply with applicable laws and have an effective program in place to
prevent and detect violations of law; this code is an effort to train and educate MicroChannel Employees about ethical business
practices.

 

OBJECTIVE

 

A key MicroChannel objective is to conduct business operations
in the most ethical manner possible. MicroChannel cares about its Employees, shareholders, clients, suppliers and the communities
in which it conducts business operations. During the course of meeting its business objectives, MicroChannel believes that it is
essential for all Employees to understand and comply with the Code of Ethics and in so doing, participate in MicroChannel’s
way of operating its business.

 

STANDARD OF CONDUCT

 

MicroChannel insists that all aspects of its business operations
be conducted with honesty, integrity, fairness and with respect for those affected by its business activities. Similarly, MicroChannel
expects the same in its relationships among those with whom it does business.

All Employees are expected to maintain and promote integrity and honesty in all business transactions. Employees must conduct themselves
according to the highest ethical standards and are expected to apply ethical business practices in the administrative and financial
affairs of MicroChannel business operations.

There is no Code of Ethics that can expect to define suitable behavior for each situation, nor should it seek to do so. As such,
Employees are expected to exercise vigilance and make considered judgment of what is right and proper in any particular situation.

While carrying out the business operations of MicroChannel, Employees are expected to be accountable, truthful, trustworthy, conscientious,
and committed to the highest standards of ethical business practices. As such, Employees are required to avoid all impropriety
as well as the appearance of impropriety when conducting MicroChannel business operations.

 

ACCURACY AND COMPLETENESS OF ACCOUNTING RECORDS

 

MicroChannel’s accounting and supporting documents
must accurately and completely describe and represent the nature and result of MicroChannel’s business operations. The results
and activities of MicroChannel’s operations must be presented in a fair and unbiased manner.

 

 

 

	 

 

    	 

    	 

    

 

	 

MicroChannel business transactions must be appropriately authorized as well as completely and accurately recorded on the Company’s
books. Proposed budgets, financial assessments, evaluations and fiscal presentations must fairly present all information relevant
to the business transaction. Furthermore, at no time will the Company establish or maintain cash funds or asset accounts which
are unrecorded.

Misappropriation, wrongful allocation, or improper use of the Company’s assets and property, or the false entry to records
and reports by any Employee or by others must be reported to Board of MicroChannel.

 

ACCURATE AND TIMELY COMMUNICATION

 

MicroChannel expects Employees to be completely truthful
and forthright in all internal and external interactions and communications, whether with shareholders, clients, government agencies,
or others.

Employees will ensure that all statements are accurate and complete with no misrepresentations which may mislead or misinform.
In all cases, Employees are expected to provide full, prompt and accurate disclosure to governmental agencies.

 

MAINTAINING AND RETAINING RECORDS

 

In order to maintain the security and integrity of MicroChannel’s
record-keeping and reporting systems, all Employees must adhere to applicable records retention procedures and fully understand
how to document and transact entries that fall within their jurisdiction.

All Employees are expected to comply fully with audits and provide timely response to requests for records or other materials from
or on behalf of MicroChannel auditors or management.

 

COMPLYING WITH THE LAW

 

MicroChannel Employees are expected to fully comply with
both the letter and the spirit of the laws and regulations of the countries in which the Company conducts business.

MicroChannel Employees are expected to act in accordance with the accepted business practices in commercial markets and adhere
to the contractual terms and conditions applicable to any business transaction.

All Employees must commit to abiding by all applicable laws and regulations.

The breach of rules, regulations, ethical standards, and laws cannot be justified by the pursuit of profit or the departure from
acceptable practice by competitors.

 

INSIDER TRADING

 

MicroChannel Employees are strictly prohibited by law from
buying or selling the Company’s shares or any other public security as a result of inside information.

Furthermore, it is against the law and unethical to provide such information about MicroChannel to other individuals or companies
so that they may gain.

 

 

 

	 

 

    	 

    	 

    

 

	 

 

 

In accordance with the Code of Ethics, Employees are strictly
prohibited from trading in shares of MicroChannel, clients or suppliers as a result of any inside information.

 

ENVIRONMENTAL ISSUES

 

MicroChannel is committed to running its business in an environmentally
sound and sustainable manner. MicroChannel’s objective is to ensure that its business operations have the minimum adverse
environmental impact commensurate with the legitimate needs of its business operations.

DISCLOSURE OF PERSONAL INTEREST

 

MicroChannel Employees are expected to fully disclose any
personal interest(s) which could impinge or might reasonably be considered by others to conflict with their business dealings with
industry.

MicroChannel Employees must not engage in personal activities and financial interests that may conflict with their responsibilities
and obligations to the Company or give assistance to competitors, in conflict with the interests of MicroChannel or its clients.

Under all circumstances, Employees must obtain the formal consent of MicroChannel management if they intend to become partners,
shareholders, or Directors, or participants in companies outside the MicroChannel corporate structure.

 

PERSONAL DISCRETION AND CONFIDENTIALITY

 

At all times, Employees are expected to respect the confidentiality
of information received during the course of business dealings and must never use such information for personal benefit or gain.

Employees are expected to give information during the course of business which is truthful, complete and fair and never intended
to mislead.

Employees cannot disclose MicroChannel trade secrets, confidential or proprietary information, or any other such information without
the written, formal authorization of management. Such information may not be disclosed as a means of making profit, gains or benefits.

At no time can Employees use Internet bulletin boards, chat rooms, messaging services, or other electronic systems to discuss issues,
affairs, or opinions related to MicroChannel or any of its industries, or to respond to comments about the Company. MicroChannel
considers electronic postings to be the same as “speaking to the media”.

 

FAIR COMPETITION

 

MicroChannel is committed to vigorous yet fair competition
and supports the development of appropriate competition laws. Each Employee must avoid any business arrangement that might prevent
the effective operation of fair competition.

 

COMPLIANCE WITH THE COMPANY’S CODE OF ETHICS

 

MicroChannel’s Board of Directors is responsible for
ensuring that the standards outlined in the Code of Ethics are fully communicated to all Employees and are similarly understood
and adhered to.

 

 

 

	 

 

    	 

    	 

    

 

	 

Should the Company experience loss of business as a result of adhering to the Code of Ethics, the Board of Directors will not criticize,
condemn or complain.

Likewise, should a real or suspected breach of the Company’s Code of Ethics be brought to the attention of the Company, the
Board of Directors will ensure that the reporting Employee does not suffer as a consequence of doing so.

The Company’s Code of Ethics are reflective of MicroChannel’s ethical standards and expectations. Accordingly, Employees
are expected to fulfill the Company’s ethical commitments in a way that is clearly visible to all those with whom MicroChannel
conducts its business.

At all times, Employees are expected to fully comply with the standards established in the Code of Ethics and ensure that their
personal conduct is always above reproach.

MicroChannel expects each Employee to ensure that the conduct of others around him or her is in compliance with the Code of Ethics
and that any breach of the same is duly reported to management.

All breaches of the law or violations of regulations and the standards of conduct listed in this Code of Ethics may lead to serious
consequences for the Employee concerned; MicroChannel Employees have a legal, moral, and ethical duty to report any such real or
suspected violation to the Board of Directors and regulatory authorities.

 

“CODE OF ETHICS” ENFORCEMENT

 

MicroChannel Employees understand and acknowledge that a
breach of the Code of Ethics can result in severe disciplinary action, including but not necessarily limited to termination.

The Company’s Code of Ethics will be fairly enforced at all levels, without prejudice.

 

ANNUAL ACKNOWLEDGEMENT

 

Each Employee will be required to sign a statement annually
that he or she has read and understands MicroChannel’s Code of Ethics. This statement will also require that the Employee
state that he or she is in full compliance with the Code.

 

EMPLOYEE CERTIFICATION AND ACKNOWLEDGEMENT

 

I acknowledge and certify that I have read and understood
the information set forth in the Code of Ethics of MicroChannel Technologies, Inc. and will comply with these principles in my
daily work activities. I am not aware of any violation of the standards of MicroChannel’s Code of Ethics.

Date:___________________________________

Name (print):___________________________________

Position:___________________________________

Address:___________________________________

Signature:___________________________________Exhibit

 Exhibit 10.1
2018 Cash Incentive Compensation Plan

Eligible Employees:  All non-Section 16 officers (“Vice Presidents”) and senior executives (Section 16) officers (“Executive Officers”) of the Company are eligible for participation in the Company’s 2018 Cash Incentive Compensation Plan.  

Applicable Period:  The 2018 Cash Incentive Plan applies to performance during the Company’s fiscal year ending December 31, 2018.  

 Components of the Plan and Criteria to Fund:  The 2018 Cash Incentive Compensation Plan consists of the following three components: (i) revenue targets; (ii) EBITDA targets, and (iii) integration targets (synergies and sale/leaseback).  Each component of the 2018 Cash Incentive Compensation Plan includes targets at minimum, plan, and maximum payout with the exception of the sale/leaseback transaction target. The minimum targets serve as the threshold upon which the incentive pool will begin to fund for that component.  Achievement of the components at plan/target will earn the target cash incentive opportunity.  Payout will be calculated along a linear continuum from minimum to plan/target and from plan/target to maximum with the maximum target serving as the point at which the management team will earn the highest possible cash incentive opportunity.

The minimum performance target must be met in order for a portion of the bonus to be paid relative to any one of the three components.  Each component will be measured separately.  Bonus payouts will be based forty percent (40%) on achievement of revenue targets, forty percent (40%) on achievement of EBITDA targets; fifteen percent (15%) on achievement of cost savings integration targets; and five percent (5%) on achievement of the sale/leaseback target.

The following table below represents the target bonus and maximum bonus for each of the Company’s Vice Presidents and above and as a percent of such employee’s annual base salary.  

	
				
	Executive Officer

	Target
	Maximum

	President and CEO
	125%
	175%

	Executive Officers (other than President and CEO)
	75%
	100%

	Vice Presidents
	50%
	70%

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