Document:

Exhibit
10.10

PROPERTY
MANAGEMENT AGREEMENT

THIS
PROPERTY MANAGEMENT AGREEMENT, made as of the 28th day of February, 2020 (the “Effective Date”), between PIERRE
TOWERS LLC, a New Jersey limited liability company, and S AND A COMMERCIAL ASSOCIATES LIMITED PARTNERSHIP, a Delaware
limited partnership, as tenants in common (collectively, the “OWNER”), having its principal office c/o First Real Estate
Investment Trust of New Jersey, 505 Main Street, Hackensack, New Jersey 07601, and HEKEMIAN
& CO., INC., a New Jersey corporation
(the “PROPERTY MANAGER”), having its principal office at 5050 Main Street, Hackensack, New Jersey 07601.

 

 

WITNESS;

WHEREAS,
the OWNER is the owner of the fee interest in certain real property and the improvements constructed thereon consisting of
an apartment building located at 185 Prospect Avenue, Hackensack, New Jersey 07601 (hereinafter the “Property”); and

 

WHEREAS,
the PROPERTY MANAGER possesses expertise in the management, operation and administration of residential rental property and
has all the necessary license and/or certification required to perform its obligations and functions as set forth in this Agreement;
and

 

WHEREAS,
OWNER desires to engage the PROPERTY MANAGER to perform all of the management services required for the efficient administration,
operation and management of the Property, including but not limited to those authorized by the leasing agreements of the Property,
and those hereinafter expressly set forth.

 

IN
CONSIDERATION of the premises, conditions and covenants hereinafter set forth, the parties mutually agree as follows:

 

1.        The
OWNER hereby employs and appoints the PROPERTY MANAGER, and the PROPERTY MANAGER hereby accepts employment and appointment, as
the exclusive agent for the management, operation and administration of the Property on the terms and conditions hereinafter provided.

 

2.        The
responsibility of the PROPERTY MANAGER for the management, operation and administration of the Property shall commence on the
Effective Date, and shall expire on the first (1st) anniversary of the Effective Date. This Agreement will automatically
renew for successive one (1) year terms unless either party delivers to the other party written notice of termination of this
Agreement, which notice must be delivered at least sixty (60) days prior to the end of the then-current term.

     

     

    

3        The
PROPERTY MANAGER agrees that even though it is vested with authority to perform various acts on behalf of the OWNER by terms of
this Agreement, the PROPERTY MANAGER shall have no right or authority, express or implied, to commit or otherwise obligate the
OWNER or to encumber the Property in any manner whatsoever except to the extent specifically provided herein.

4.        The
services to be rendered by the PROPERTY MANAGER in connection with the operation, administration and management of the Property
are to be performed with diligence and care includes the following:

(a)        Cause
the common areas of the Property to be maintained and kept in a first-class condition, including interior and exterior cleaning,
and cause necessary repairs and alterations to the common areas of the Property to be made, including but not limited to electrical,
plumbing, carpentry, masonry, elevator, steam fitting, redecorating of public and common areas and such other incidental alterations
or changes therein that may be proper, subject only to the limitations contained in this Agreement. 

(b)        Cause
to be purchased, on behalf of and at the expense of the OWNER, all tools, equipment, supplies and materials as may be necessary
and desirable for the maintenance and upkeep of the common areas of the OWNER. Such purchases shall be made in the name of the
OWNER and all discounts or commissions obtained for such purchases shall be credited to the OWNER. 

(c)        Subject
to the approval of the OWNER, solicit bids, recommend and arrange for contracts for building services, including, as applicable:
elevator maintenance, telephone service, window cleaning, refuse removal, security protection, valet service, vermin extermination,
snow clearing, cable television service and other services as shall be deemed advisable.

(d)        Check
all bills received by the OWNER for services, work and supplies ordered in connection with and for maintaining the common areas
and cause to be paid by the OWNER all such bills, as and when same shall become due and payable.

(e)        Bill
and collect on behalf of the OWNER all common expense assessments, maintenance fees, charges, monies and debts which may become
due to the OWNER and to take such action in the name of the OWNER as may be required for the collection of same. For such purposes,
the PROPERTY MANAGER, and at the expense of the OWNER, employ counsel designated by the OWNER for such purposes.

(f)        Deposit
all rents and other funds collected from the operation of the Property, and any other funds to which Owner may be entitled hereunder,
in a special account or accounts at a bank directed by Owner for the Property separate and apart from Manager’s own funds
(the “Operating Account”). Manager shall pay out of the Operating Account on a monthly basis the operating expenses
of the Property and any other payments relative to the Premises as required by and subject to the terms of this Agreement and
the applicable provisions of any mortgage or deed of trust held by a Lender (as hereinafter

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defined)
encumbering the Property.

(g)        Maintain
businesslike relations with Property residents whose service requests and complaints shall be received, considered, acted upon
and recorded in a systematic fashion in order to show the action taken with respect to each. Requests that the PROPERTY MANAGER
deems outside of the scope of its responsibilities or of a serious nature or complaints or requests deemed by the PROPERTY MANAGER
to be unreasonable shall, after thorough investigation, are reported to the OWNER with appropriate recommendations.

(h)        Cooperate
with the accountants for the OWNER with regard to the preparation and filing on behalf of the OWNER of any governmental forms
or tax returns.

(i)        Cause
to be prepared and send out all letters, reports and notices as may be reasonably requested by OWNER, including any newsletters
or other publications.

(j)        Cause
all insurance required by law or otherwise to be carried and maintained in full force and effect and cause all insurance proceeds
to be promptly paid.

(k)        Maintain
records with respect to services and materials and expenses on behalf of the Property, which records shall be sufficient to describe
the services rendered and shall be kept in accordance with prevailing accounting procedures and shall identify the source and
expenditure of all funds. Such records shall be freely available for inspection by the Property Management on a reasonable basis
during normal business hours. It is further agreed that the PROPERTY MANAGER shall provide the following additional bookkeeping
services such as maintenance of bank accounts, performance of reconciliations, preparation of checks, preparation and/or filing
of reports. Such additional services shall be billed to and paid monthly by the Property as part of the management fee stated
in Section 7 of this Agreement.

(l)        Render
to the OWNER a monthly statement of all collections and disbursements made, with vouchers therefore, on or before the 15th
day of the next succeeding month, and at such other times, at the option of the OWNER, as shall be consistent with collections,
expenditures and commitments for the Property. Such statements shall be prepared at the expense of PROPERTY MANAGER.

(m)        Generally,
do all things deemed reasonable, necessary or desirable by the OWNER to oversee the proper management of the Property.

(n)        To
notify the OWNER of any practice, procedure or activity, or other matter connected with the Property, which, in the opinion of
the PROPERTY MANAGER, may constitute a violation of any ordinance, code or governmental

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regulation.

 

(o)        Process
applications by tenants of the Property for permission to alter or modify their respective unit; obtain plans and specifications,
completion bounds, insurance certificates and other documentation relative to such application for review by the OWNER; coordinate
the use of building services and equipment for any approved work, if necessary, provided however, that the PROPERTY MANAGER shall
not be responsible for supervision of the work or verifying that it complies with approved plans and specifications of applicable
codes or ordinances.

(p)        The
direct supervision of major capital improvement projects is not included within the scope of the PROPERTY MANAGER responsibilities
under this Agreement. However, the PROPERTY MANAGER will solicit bids for professional fees for such projects and, if requested,
will forward bid specifications prepared by a professional engineer or architect to vendors and subcontractors, without charge
to the OWNER.

5.        All
purchases and expenditures made by the PROPERTY MANAGER shall be made out on behalf of and to the credit of the OWNER, and the
PROPERTY MANAGER shall not be required or obligated to advance any monies or credit on behalf of the OWNER. In no event, however,
shall the PROPERTY MANAGER expend any sum in excess of $2,500 per expenditure or $10,000. in the aggregate, on an annual basis,
unless said expenditure(s) are specifically authorized or under circumstances where such expenditures are required to eliminate
or prevent an emergent danger to life or limb, or an imminent and substantial loss of or damage to the common areas of the Property,
in which cases such expenditure(s) may be made by the PROPERTY MANAGER, irrespective of the above limitations.

6.        The
PROPERTY MANAGER is authorized on behalf of the OWNER to make all necessary disbursements for expenses incurred by PROPERTY MANAGER
pursuant to any of the provisions of this Agreement, including the retention of legal counsel, accountants and other professional
services as may be necessary, subject to proper approval thereof by the OWNER, and also including the payment of the PROPERTY
MANAGER compensation as herein provided, and to deduct the same from the collections made for the Property. In the event that
at any time there are insufficient funds in the custody of PROPERTY MANAGER from the current collections to pay such expenses,
the OWNER agrees to supply the PROPERTY MANAGER immediately with funds required to make such payments. The OWNER agrees to reimburse
the PROPERTY MANAGER upon demand for any disbursement, which PROPERTY MANAGER may elect to advance for the account of the Property
and for any monies, which PROPERTY MANAGER become obligated and required to pay pursuant to any of the provisions of this Agreement.
Nothing herein contained, however, shall be construed to obligate PROPERTY MANAGER to make any such advances.

7.        The
OWNER agrees to pay the PROPERTY MANAGER for all services to be performed in connection with the management & bookkeeping,
administration and operation

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of
the annual management fee of 5% of Gross Income from Operations, payable in equal monthly installments throughout the annualized
period of this agreement. The term “Gross Income from Operations” shall mean, for any period, all collected income,
computed in accordance with generally accepted accounting principles (GAAP), derived from the ownership and operation of the Property
from whatever source during such period, including, but not limited to, rents from tenants, utility charges, escalations, forfeited
security deposits, interest (if any) on credit accounts, business interruption or other loss of income or rental insurance proceeds,
service fees or charges, license fees, parking fees, and other pass-through or reimbursements paid by tenants under the leases
of any nature, but excluding the following: (i) sales, use and occupancy or other taxes on receipts required to be accounted for
by Owner to any governmental authority; (ii) refunds and uncollectible accounts; (iii) insurance proceeds and condemnation proceeds
(other than business interruption or other loss of income insurance); and (iv) any disbursements to Owner from any of the escrows.
In addition, the PROPERTY MANAGER shall receive a payment in the amount of One Hundred Twenty-Five Dollars ($125.00) for each
new lease agreement entered into by the OWNER with a tenant for occupancy of a unit at the Property.

 

8.        PROPERTY
MANAGER is and shall have general authority and powers necessary to carry out the content of this Agreement and to act therefore
on behalf of the OWNER.

 

9.        The
PROPERTY MANAGER shall, at the expense of the OWNER, cause to be placed and kept in force all forms of insurance as required by
the laws of the State of New Jersey, including, but not limited to:

 

(a)        Fire
and extended coverage in a sum which is adequate to cover the full replacement value all improvements required to be insured by
the OWNER less a deductible of not more than an amount specified by OWNER for each occurrence;

 

(b)        Comprehensive
general liability insurance in an amount to be specified by OWNER for claims for liability exposure of the OWNER;

 

(c)        An
Excess Umbrella Liability
policy in the amount to be specified by OWNER;

 

(d)        Workmen’s
compensation and disability insurance as required by law; and

 

(e)        Such
other insurance coverages as may be requested by the OWNER.

 

The
PROPERTY MANAGER shall promptly investigate and make a full written report as to all accidents or claims for damages relating
to the management, operation and maintenance of the Property, including any damage or destruction to the Property, the estimated
cost of repair shall further cooperate and make any and all reports required by an insurance carrier in connection therewith.

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10.        The
PROPERTY MANAGER shall be liable to the OWNER for any loss or damage caused by the PROPERTY MANAGER’S gross negligence or
willful misconduct or caused by the PROPERTY MANAGER’S own failure to comply with its obligations hereunder. The OWNER will
indemnify the PROPERTY MANAGER against and hold the PROPERTY MANAGER harmless from:

 

(a)        any
liability, damage, costs or expenses (including reasonable attorney’s fees) sustained or incurred for injury to any person
or property in or about and in connection with the Property, from any cause except the gross negligence or willful misconduct
of the PROPERTY MANAGER; and

 

(b)        any
liability, damage, penalties, costs or expenses, statutory or otherwise, for any acts properly performed by the PROPERTY MANAGER
pursuant to this Agreement or the direct instructions of the OWNER or its duly authorized representative; provided however, in
each of the foregoing instances, the PROPERTY MANAGER promptly advises the OWNER of its receipt of information concerning any
such injury and the amount of any such injury, such liability, damages, penalties, costs and expenses.

 

If
available at no extra cost to the OWNER, the OWNER shall carry contractual liability insurance, specifically covering the indemnity
provisions contained in this Section 10, and employer’s liability insurance and will include the PROPERTY MANAGER as a party
insured in the liability policy and will deliver a copy of such liability policy to the PROPERTY MANAGER or a certificate evidencing
same.

 

11.        In
the event a petition in bankruptcy is filed by or against the OWNER or the PROPERTY MANAGER, or in the event that either shall
make an assignment for the benefit of creditors or take advantage of any insolvency act, either party hereto may forthwith terminate
this Agreement upon ten (10) days prior notice in writing to the other.

 

12.        Notice
which either party desires to give to the other or is required to give to the to the other under this Agreement, shall be given
by U.S. Certified Mail, Return Receipt Requested, or by recognized overnight carrier, and it shall be deemed given 72 hours after
addressed to the party for whom it is intended as follows or to such other address as either of the parties may designate in writing:

 

 

For
the
Owner:                                                                 Pierre Towers LLC

505
Main Street 

Hackensack, New Jersey 07601

 

  

S and A Commercial Associates Limited 

Partnership

505 Main Street

Hackensack, New Jersey 07601

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For the Property Manager:                                            Hekemian
& Co., Inc.

505 Main Street

Hackensack, New Jersey 07601

 

Despite
the forgoing, any notice of change of address or of an additional person to receive future notices shall not be effective until
received.

 

13.        The
term PROPERTY MANAGER as used in this Agreement shall include any corporate subsidiaries or affiliates of the PROPERTY MANAGER
who perform services, in on, or about the Property arising out of or in connection with this Agreement.

 

14.        This
Agreement may not be transferred or assigned by either party without the written consent of the other and shall bind, apply to
and run in the favor of the OWNER and the PROPERTY MANAGER and their respective successors in interest.

 

15.        Upon
termination of this Agreement, the parties shall account to one another with respect to all matters outstanding as of the date
of termination, and the OWNER shall furnish to the PROPERTY MANAGER security satisfactory to the PROPERTY MANAGER, against any
outstanding obligations or liabilities that may have been incurred hereunder.

 

16.        This
Agreement shall constitute the entire understanding between the patties, and not variance or modifications thereof shall be valid
and enforceable expect by supplemental agreement in writing, executed and approved in the same manner as this Agreement and shall
supersede and terminate any prior management agreement in effect.

 

17.        The
OWNER and the PROPERTY MANAGER agree that the holder of the first lien priority mortgage or deed of trust encumbering the Property
(“Lender”) and the related loan documents evidencing the loan to the OWNER (collectively, the “Loan Documents”)
may terminate this Agreement or instruct the OWNER to terminate this Agreement as provided for by, and pursuant to, the terms
and conditions set forth in the Loan Documents. The PROPERTY MANAGER shall assist the OWNER in all reasonable respects to comply
in all material respects with the obligations of the OWNER arising under or in connection with the Loan Documents entered into
with a Lender as the OWNER shall specify from time to time. The PROPERTY MANAGER shall promptly inform the OWNER of any defaults
under any of the Loan Documents that are known to the PROPERTY MANAGER; it being understood that the PROPERTY MANAGER shall be
under no obligation to independently interpret any Loan Documents but shall be directed by the OWNER as to such matters. However,
in no event shall the PROPERTY MANAGER have any liability under the Loan Documents.

 

[no further
text on this page; signature page follows)

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IN
WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written.

 

  

	 	
        PIERRE TOWERS LLC

        By: Pierre Towers Holdings LP, its sole member

        By: First Real Estate Investment Trust
        of New

        Jersey, its general partner

	 	 
	 	 
	 	By:  /s/ Robert S. Hekemian, Jr.
	 	
        Robert S. Hekemian, Jr.

        President and CEO

	 	 
	 	 
	 	
        S AND A COMMERCIAL ASSOCIATES

        LIMITED PARTNERSHIP

        By: Pierre Management, LLC, its general partner

        By: First Real Estate Investment Trust
        of New

        Jersey, its sole member

	 	 
	 	 
	 	By:  /s/ Robert S. Hekemian, Jr.
	 	
        Robert S. Hekemian, Jr.

        President and CEO

	 	 
	 	 
	 	Hekemian & Co., Inc.
	 	By:  /s/ Robert S. Hekemian, Jr.
	 	
        Robert S. Hekemian, Jr.

        President

 

 

 

 

[Property Management
Agreement Signature Page]

    8Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (the “Agreement”)
is made effective as of January 28, 2021, between SINO-GLOBAL SHIPPING AMERICA, LTD., a Virginia corporation (the “Company”)
and Mr. Lei Nie (the “Executive”).

 

1. EMPLOYMENT

 

The Company hereby agrees to employ the
Executive, and the Executive hereby agrees to be employed by the Company, on the terms and conditions set forth herein.

 

2. TERM

 

The term (“Term”) of this Agreement
shall begin on January 28, 2021 and will terminate January 27, 2026 (the “Initial Term”), unless sooner terminated
as hereinafter provided. At the conclusion of the Initial Term, the Term shall automatically be extended for one-year period in
the absence of notice of non-renewal provided at least 30 days prior to the anniversary date of this Agreement.

 

3. POSITION AND DUTIES

 

3.1 Position. The Executive hereby
agrees to serve as Chief Operating Officer of the Company, reporting to the Company’s Chief Executive Officer. At the Company’s
request, the Executive may, at the Executive’s discretion, serve the Company and/or its respective subsidiaries and affiliates
in other offices and capacities in addition to the foregoing, but shall not be required to do so. In the event that the Executive,
during the term of this Agreement, serves in any one or more of the aforementioned capacities, the Executive’s compensation
shall not be increased beyond that specified in Section 4 of this Agreement unless otherwise agreed by the parties. In addition,
in the event the Company and the Executive mutually agree that the Executive shall terminate the Executive’s service in any
one or more of the aforementioned capacities, or the Executive’s service in one or more of the aforementioned capacities
is terminated, the Executive’s compensation, as specified in Section 4 of this Agreement, shall not be diminished or reduced
in any manner unless otherwise agreed by the parties.

 

3.2 Duties. The Company agrees that
the duties that may be assigned to the Executive shall be the usual and customary duties of the Chief Operating Officer.

 

3.3 Devotion of Time and Effort. Executive
shall use Executive’s good faith best efforts and judgment in performing Executive’s duties as required hereunder and
to act in the best interests of the Company. Executive shall devote such time, attention and energies to the business of the Company
as are reasonably necessary to satisfy Executive’s required responsibilities and duties hereunder.

 

3.4 Other Activities . The Executive
may engage in other activities for the Executive’s own account while employed hereunder, including without limitation charitable,
community and other business activities, provided that such other activities do not materially interfere with the performance of
the Executive’s duties hereunder.

 

4. COMPENSATION AND RELATED
MATTERS

 

4.1 Compensation. During the Initial
Term, the Company shall pay the Executive (a) an annual salary of One Hundred Fifty Thousand Dollars (US $150,000.00), paid monthly,
bi-weekly or bi-monthly in equal installments at the beginning of each such period (the “Base Salary”). In addition,
the Executive will be eligible for a bonus, to be determined based on the performance of the Executive and the Company. The Executive’s
performance and salary shall be subject to review at any time, and an increase in salary, if one is so determined by the Compensation
Committee of the Board of Directors of the Company.

 

4.2 Benefits. The Executive shall be
entitled to participate in the Company’s employee benefit plans and programs on substantially the same terms and conditions
as other senior executives; provided, however, that the Executive shall, at a minimum, be provided healthcare and medical insurance
typically made available to United States-based executives in similar companies. The Executive will be entitled to (a) four weeks
of paid annual leave, (b) reasonable medical leave (provided that he is not deemed as incapacitated under the term of Disability)
and (c) time off on federal public holidays in the United States.

 

     

     

    

 

4.3 Business Expenses. The Company
shall promptly, in accordance with Company policy, reimburse the Executive for all reasonable business expenses incurred in accordance
with and subject to the limits set forth in the Company’s written policies with respect to business expenses, upon presentation
to the Company of written receipts for such expenses.

 

5. TERMINATION

 

5.1 Termination for Cause. The Company
may terminate the Executive for Cause at any time, upon written notice to Executive. For purposes of this Agreement, “Cause”
shall mean:

 

(a) The Executive’s
conviction for commission of a felony or a crime involving moral turpitude;

 

(b) The Executive’s
willful commission of any act of theft, embezzlement or misappropriation against the Company; or

 

(c) The Executive’s
material failure to perform his duties hereunder.

 

5.2 Termination Without Cause. Either
party may terminate this Agreement without Cause at any time, provided that such Party first delivers to the other Party written
notice of termination of this Agreement at least thirty (30) days prior to the effective date of termination.

 

5.3 Termination for Good Reason. The
Executive may terminate his employment under this Agreement for Good Reason by providing notice to the Company setting forth in
reasonable detail the nature of such Good Reason; provided, however, that such notice must be provided within thirty (30) days
from the Executive’s knowledge of the occurrence of a Good Reason event. For purposes of this Agreement, “Good Reason”
shall mean the occurrence of any of the following events without the Executive’s written consent: (i) a material breach by
the Company of this Agreement, including a failure to make such payments or provide such benefits as are provided herein; or (ii)
the Company requires Executive to locate his office to a location more than fifty (50) miles outside of the metropolitan area of
the Executive’s home city. Executive’s resignation for Good Reason shall only be effective if the Company has not cured
or remedied the Good Reason event within thirty (30) days after its receipt of Executive’s written notice.

 

6. COMPENSATION UPON TERMINATION

 

6.1 Effect of Termination for Cause.
In the event the Executive’s employment shall be terminated for Cause pursuant to Section 5.1 hereof, the Company shall pay
the Executive his salary through the date of termination.

 

6.2 Effect of Termination upon Death or
Disability. If the Executive’s employment is terminated by reason of his death or disability (which term shall mean the
legal determination that the Executive is unable to perform his duties without reasonable accommodation), he will be entitled to
receive a lump sum payment equal to two times of his Base Salary, and other benefits earned and accrued prior to the date of termination.

 

6.3 Effect of
Termination During the Initial Term. If the Executive’s employment is terminated (i) by the Company pursuant to Section
5.2 during the Initial Term of this Agreement or (ii) by the Executive pursuant to Section 5.3 during the Initial Term of this
Agreement, the Executive will receive his remaining annual salary through the date of January 27, 2026. Furthermore, the Executive
will be entitled to receive a severance payment equal to (1) if there has been no Change in Control, two times of the then applicable
annual salary (no less than US $300,000), or (2) after a Change in Control, three-and-a-half times of the then applicable annual
salary (no less than US $525,000).

 

    2

     

    

 

6.4 Change of
Control. For purposes of this Agreement, unless the Company’s Board of Directors (the “Board”) determines
otherwise, a Change of Control of the Company shall be deemed to have occurred at such time as: (A) any person (as the term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the Exchange Act)) is or becomes the beneficial
owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of voting securities of the Company representing
more than 50% of the Company’s outstanding voting securities or rights to acquire such securities except for any voting securities
issued or purchased under any employee benefit plan of the Company or its subsidiaries; or (B) any sale, lease, exchange or other
transfer (in one transaction or a series of transactions) of all or substantially all of the assets of the Company; or (C) a plan
of liquidation of the Company or an agreement for the sale or liquidation of the Company is approved and completed; or (D) the
Board determines in its sole discretion that a Change in Control has occurred, whether or not any event described above has occurred
or is contemplated.

 

7. CONFIDENTIALITY AND NON-SOLICITATION
COVENANTS

 

7.1 Non-Competition. The Executive
agrees that during the Term of this Agreement prior to any termination of his employment hereunder and for a period of one year
following the date on which the Executive’s employment hereunder is terminated, he will not directly or indirectly, without
the prior written consent of the Company, manage, operate, join, control, participate in, or be connected as a stockholder (other
than as a holder of shares publicly traded on a stock exchange or the NASDAQ National Market System), partner, or other equity
holder with, or as an officer, director or employee of, any other company whose business strategy is competitive with that of the
Company.

 

7.2 Confidentiality. The Executive
hereby agrees that the Executive will not, during the Term or at any time thereafter directly or indirectly disclose or make available
to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, any Confidential Information
(as defined below). The Executive agrees that, upon termination of his employment with the Company, all Confidential Information
in his possession that is in written or other tangible form (together with all copies or duplicates thereof, including computer
files) shall be returned to the Company and shall not be retained by the Executive or furnished to any third party, in any form
except as provided herein; provided, however, that the Executive shall not be obligated to treat as confidential, or return to
the Company copies of any Confidential Information that (i) was publicly known at the time of disclosure to the Executive, (ii)
becomes publicly known or available thereafter other than by any means in violation of this Agreement or any other duty owed to
the Company by the Executive, or (iii) is lawfully disclosed to the Executive by a third party. As used in this Agreement the term
“Confidential Information” means information disclosed to the Executive or known by the Executive as a consequence
of or through his relationship with the Company, about the owners, employees, business methods, public relations methods, organization,
procedures, property acquisition and development, or finances, including, without limitation, information of or relating to the
Company and its affiliates.

 

7.3 Non-Disparagement. During the Term
of this Agreement and upon termination for any or no reason, the Executive agrees that he shall not make any disparaging remarks
of any sort or otherwise communicate any disparaging comments about the Company. During the Term of this Agreement and upon termination
for any or no reason, Company agrees that it shall not make any disparaging remarks about Executive to any other person or entity.
In accordance with Company’s usual practice, the Company will confirm Executive’s dates of employment and Executive’s
job description upon request. Notwithstanding the above, nothing in this provision shall prevent or prohibit any Party from testifying
in any legal proceeding, including at deposition, hearing or trial, from cooperating in good faith in any governmental investigation
or action, or from making any report required by law, including as may be required under applicable securities laws.

 

7.4 Non-Solicitation. For a period
of one (1) year following the date on which the Executive’s employment hereunder is terminated, the Executive shall not directly
or indirectly (A) solicit or induce any of the Company’s employees, agents or independent contractors to end their relationship
with the Company, (B) recruit, hire or otherwise induce any such person to perform services for the Executive, or any other person,
firm or company, or (C) solicit or intentionally interfere with the customer or client relationships of the Company.

 

    3

     

    

 

7.5 Return of Property. The Executive
hereby acknowledges and agrees that all Personal Property and equipment furnished to or prepared by the Executive in the course
of or incident to his employment, belongs to the Company and shall be promptly returned to the Company upon termination of the
Employment Period. “Personal Property” includes, without limitation, all electronic devices of the Company used by
the Executive, including, without limitation, personal computers, facsimile machines, cellular telephones, pagers and tape recorders
and all books, manuals, records, reports, notes, contracts, lists, blueprints, maps and other documents, or materials, or copies
thereof (including computer files), and all other proprietary information relating to the business of the Company. Following termination,
the Executive will not retain any written or other tangible material containing any proprietary information of the Company.

 

7.6 Reasonableness of Restrictions.
Each of sections 7.1, 7.2, 7.3, 7.4 and 7.5 set out above is acknowledged by Executive to be reasonable in duration, extent and
application and is the minimum protection necessary for the Company in respect of its goodwill, Confidential Information, trade
connections and business. Each of the covenants and obligations on Executive’s part set out in sections 7.1, 7.2, 7.3, 7.4
and 7.5 is deemed to be separate and severable and enforceable by the Company accordingly. If any of the restrictions set out above
are held to be void but would be valid if part of the wording was deleted such restriction shall apply with such deletion as may
be necessary to make it valid and effective.

 

8. INDEMNIFICATION

 

8.1 Indemnification. In the event that
the Executive (a) was, is or may become a party to any proceeding, including a proceeding brought by a shareholder in the right
of the Company or brought by or on behalf of shareholders of the Company, by reason of the fact that he is or was a director or
officer of the Company, or (b) was or is serving at the request of the Company as a director, trustee, partner or officer of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, the Company agrees to hold harmless
and indemnify the Executive from and against any and all repayment obligations, losses, liabilities, damages, costs, expenses (including
actual attorneys’ fees), judgments, fines and amounts paid in settlement or otherwise reasonably incurred by the Executive
in connection with any claim or cause of action is threatened, asserted or brought against the Executive pursuant to or arising
under this Agreement or performance of his duties hereunder, whether in whole or in part (a “Claim”). The Company agrees
to reimburse the Executive for such reasonable out-of-pocket expenses actually incurred in connection with the defense of a Claim.

 

8.2 Procedure for Indemnification.
All requests for indemnification shall be addressed pursuant to Article VI of the Company’s Bylaws.

 

8.3 Inapplicability of Indemnification.
Indemnification under Section 8.1 shall be unavailable in the event the Executive has engaged in willful misconduct or a knowing
violation of criminal law. The Executive understands and agrees that insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to our directors, officers or persons controlling us, in the opinion of the SEC such indemnification
is against public policy as expressed in the Securities Act of 1933 and is therefore unenforceable as a matter of United States
law.

 

9. GENERAL PROVISIONS

 

9.1 Injunctive Relief and Enforcement.
The Executive acknowledges that the remedies at law for any breach by him of the provisions of Section 7 hereof may be inadequate
and that, therefore, in the event of breach by the Executive of the terms of Section 7 hereof, the Company shall be entitled to
institute legal proceedings to enforce the specific performance of this Agreement by the Executive and to enjoin the Executive
from any further violation of Section 7 hereof and to exercise such remedies cumulatively or in conjunction with all other rights
and remedies provided by law and not otherwise limited by this Agreement.

 

9.2 Notice. For the purposes of this
Agreement, notices, demands and all other communications provided for in this Agreement shall be in writing and shall be deemed
to have been duly given when addressed as follows and (i) when personally delivered, (ii) when transmitted by telecopy, electronic
or digital transmission with receipt confirmed, (iii) one day after delivery to an overnight air courier guaranteeing next day
delivery, or (iv) upon receipt if sent by certified or registered mail. In each case notice shall be sent to:

 

    4

     

    

 

	 	If to Executive:	Mr. Lei Nie
	 	 	
        49 Elmtree Lane

        Jericho NY, 11753

	 	 	 
	 	If to the Company:	Sino-Global Shipping America, Ltd.
	 	 	1044 Northern Blvd, suite 305
	 	 	Roslyn, New York 11576

 

or to such other address as any party may
have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only
upon receipt.

 

9.3 Severability. The invalidity or
unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement, which shall remain in full force and effect. In addition, in the event any provision in this Agreement
shall be determined by any court of competent jurisdiction to be unenforceable by reason of extending for too great a period of
time or over too great a geographical area or by reason of being too extensive in any other respect, each such agreement shall
be interpreted to extend over the maximum period of time for which it may be enforceable and to the maximum extent in all other
respects as to which it may be enforceable, and enforced as so interpreted, all as determined by such court in such action.

 

9.4 Assignment. This Agreement may
not be assigned by the Executive, but may be assigned by the Company to any successor to its business and will inure to the benefit
and be binding upon any such successor.

 

9.5 Counterparts. This Agreement may
be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute
one and the same instrument.

 

9.6 Headings. The headings contained
herein are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement.

 

9.7 Choice of Law; Venue. This Agreement
shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of Virginia without giving effect
to the principles of conflict of laws thereof. By execution and delivery of this Agreement, the parties agree and accept that any
legal action or proceeding brought with respect to this Agreement shall be brought in the court of appropriate jurisdiction in
and for the City of Richmond, Commonwealth of Virginia, and the parties expressly waive any objection to personal jurisdiction,
venue or forum non conveniens.

 

9.8 Entire Agreement. This Agreement
contains the entire agreement and understanding between the Company and the Executive with respect to the employment of the Executive
by the Company as contemplated hereby, and no representations, promises, agreements or understandings, written or oral, not herein
contained shall be of any force or effect. This Agreement shall not be changed unless in writing and signed by both the Executive
and the Board.

 

9.9 Amendments; Waivers. This Agreement
may be amended or modified, and any of the terms and covenants may be waived, only by a written instrument executed by the parties
hereto, or, in the case of a waiver, by the party waiving compliance. Any waiver by any party in any one or more instances of any
term or covenant contained in this Agreement shall neither be deemed to be nor construed as a further or continuing waiver of any
such term or covenant of this Agreement.

 

    5

     

    

 

IN WITNESS WHEREOF, the parties have executed this Employment
Agreement as of the date and year first above written.

  

	 	Company
	 	 
	 	Sino-Global Shipping America, Ltd.,
	 	a Virginia stock corporation
	 	 	 
	 	By:	/s/Lei Cao
	 	 	Lei Cao
	 	 	Chief Executive Officer
	 	 	 
	 	Executive
	 	 	 
	 	By:	/s/ Lei Nie
	 	 	Lei Nie

 

 

6

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