Document:

Exhibit 10.17

 

POWERBRIDGE TECHNOLOGIES CO., LTD.

1st
Floor, Building D2, Southern Software Park

Tangjia Bay, Zhuhai, Guangdong 519080, China

+86-756-339-5666

 

October 22, 2018

 

Bo Wu

No. 1802, Bldg 10, Tianshui, Xiyuan

Chaoyang, Beijing, China

 

Re: Director Offer Letter

 

Dear Mr. Wu,

 

Powerbridge Technologies Co., Ltd., a Cayman
Islands exempted company with limited liability (the “Company”), is pleased to offer you a position as of member of
its Board of Directors (the “Board”). We believe your background and experience will be a significant asset to the
Company and we look forward to your participation on the Board. Should you choose to accept this position as a member of the Board
and Class I director, this letter agreement (the “Agreement”) shall constitute an agreement between you and the Company
and contains all the terms and conditions relating to the services you agree to provide to the Company.

 

1.  Term.
This Agreement is effective upon your acceptance and signature below. Your term as a Class I director shall commence on the effective
date of the prospectus that the Company has filed with the U.S. Securities and Exchange Commission in connection with its initial
public offering and continue subject to the provisions in Section 8 below or until your successor is duly elected and qualified.
The position shall be up for re-election at the first annual shareholder’s meeting following the consummation of the Company’s
initial public offering and upon re-election, the terms and provisions of this Agreement shall remain in full force and effect.

 

2.   Services.
You shall render services as a member of the Board and the Board’s committees set forth on Schedule A
attached hereto (hereinafter your “Duties”). During the term of this Agreement, you shall attend and participate in
such number of meetings of the Board and of the committee(s) of which you are a member as regularly or specially called. You may
attend and participate at each such meeting via teleconference, video conference or in person. You shall consult with the other
members of the Board and committee(s) as necessary via telephone, electronic mail or other forms of correspondence.

 

3.    
Compensation. As compensation for your services to the Company, you will receive compensation as set forth on Schedule
B attached hereto (hereinafter, the “Compensation”) per year for serving on the Board during your term
as a director, which shall be paid to you quarterly in arrears as determined by the Company. You shall be reimbursed for reasonable
and approved expenses incurred by you in connection with the performance of your Duties.

 

4.   No Assignment.
Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by you without the prior
written consent of the Company.

 

5.    
Confidential Information; Non-Disclosure. In consideration of your access to certain Confidential Information (as
defined below) of the Company, in connection with your business relationship with the Company, you hereby represent and agree as
follows:

 

a. Definition. For purposes
of this Agreement the term “Confidential Information” means:

 

i. Any information
which the Company possesses that has been created, discovered or developed by or for the Company, and which has or could have commercial
value or utility in the business in which the Company is engaged; or

 

ii.   Any information
which is related to the business of the Company and is generally not known by non-Company personnel.

 

iii. 
Confidential Information includes, without limitation, trade secrets and any information concerning services provided by the Company,
concepts, ideas, improvements, techniques, methods, research, data, know-how, software, formats, marketing plans, and analyses,
business plans and analyses, strategies, forecasts, customer and supplier identities, characteristics and agreements.

 

    1

     

    

 

b. Exclusions. Notwithstanding
the foregoing, the term Confidential Information shall not include:

 

i. Any information
which becomes generally available to the public other than as a result of a breach of the confidentiality portions of this Agreement,
or any other agreement requiring confidentiality between the Company and you;

 

ii.  Information received
from a third party in rightful possession of such information who is not restricted from disclosing such information; and

 

iii.   Information known
by you prior to receipt of such information from the Company, which prior knowledge can be documented.

 

c.  Documents.
You agree that, without the express written consent of the Company, you will not remove from the Company's premises, any notes,
formulas, programs, data, records, machines or any other documents or items which in any manner contain or constitute Confidential
Information, nor will you make reproductions or copies of same. You shall promptly return any such documents or items, along with
any reproductions or copies, to the Company upon the earliest of Company's demand, termination of this Agreement, or your termination
or Resignation, as defined in Section 8 herein.

 

d.   
Confidentiality. You agree that you will hold in trust and confidence all Confidential Information and will not disclose
to others, directly or indirectly, any Confidential Information or anything relating to such information without the prior written
consent of the Company, except as maybe necessary in the course of your business relationship with the Company. You further agree
that you will not use any Confidential Information without the prior written consent of the Company, except as may be necessary
in the course of your business relationship with the Company, and that the provisions of this paragraph (d) shall survive termination
of this Agreement.

 

e.  
Ownership. You agree that Company shall own all right, title and interest (including patent rights, copyrights, trade
secret rights, mask work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout
the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs,
know-how, ideas and information made or conceived or reduced to practice, in whole or in part, by you during the term of this Agreement
and that arise out of your Duties (collectively, “Inventions”) and you will promptly disclose and provide all Inventions
to the Company. You agree to assist the Company, at its expense, to further evidence, record and perfect such assignments, and
to perfect, obtain, maintain, enforce, and defend any rights assigned.

 

6.   
Non-Competition. You agree and undertake that you will not, so long as you are a member of the Board and for a period
of 24 months following termination of this Agreement for whatever reason, directly or indirectly as owner, partner, joint venture,
shareholder, employee, broker, agent principal, corporate officer, director, licensor or in any other capacity whatsoever, engage
in, become financially interested in, be employed by, or have any connection with any business or venture that is engaged in any
activities involving services or products which compete, directly or indirectly, with the services or products provided or proposed
to be provided by the Company or its subsidiaries or affiliates; provided, however, that you may own
securities of any public corporation which is engaged in such business but in an amount not to exceed at any one time, one percent
of any class of stock or securities of such company, so long as you has no active role in the publicly owned company as director,
employee, consultant or otherwise.

 

7.   Non-Solicitation.
So long as you are a member of the Board and for a period of 24 months thereafter, you shall not directly or indirectly solicit
for employment any individual who was an employee of the Company during your tenure.

 

8.  Termination
and Resignation. Your membership on the Board or on a Board committee may be terminated for any or no reason by a vote
of the shareholders holding at least a majority of the shares of the Company’s issued and outstanding shares entitled to
vote. Your membership on the Board or on a Board committee shall be terminated if you become of unsound mind or are prohibited
by law from being so. You may also terminate your membership on the Board or on a committee for any or no reason by delivering
your written notice of resignation to the Company (“Resignation”), and such Resignation shall be effective upon the
time specified therein or, if no time is specified, upon receipt of the notice of Resignation by the Company. Upon the effective
date of the termination or Resignation, your right to compensation hereunder will terminate subject to the Company's obligations
to pay you any compensation (including the vested portion of the Shares) that you have already earned and to reimburse you for
approved expenses already incurred in connection with your performance of your Duties as of the effective date of such termination
or Resignation. Any Shares that have not vested as of the effective date of such termination or Resignation shall be forfeited
and cancelled.

 

    2

     

      

 

9.   Governing
Law. All questions with respect to the construction and/or enforcement of this Agreement, and the rights and obligations
of the parties hereunder, shall be determined in accordance with the law of the State of New York applicable to agreements made
and to be performed entirely in the State of New York.

 

10.   Entire
Agreement; Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to the subject
matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any
term of this Agreement may be amended and observance of any term of this Agreement may be waived only with the written consent
of the parties hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any
subsequent breach or failure of the same term or condition or waiver of any other term or condition of this Agreement. The failure
of any party at any time to require performance by any other party of any provision of this Agreement shall not affect the right
of any such party to require future performance of such provision or any other provision of this Agreement. This Agreement may
be executed in separate counterparts each of which will be an original and all of which taken together will constitute one and
the same agreement, and may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to be the
same, and equally enforceable, as an original of such signature.

 

11.   Indemnification.
The Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any expenses,
including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts (“Losses”),
incurred in connection with any proceeding arising out of, or related to, your performance of your Duties, other than any such
Losses incurred as a result of your negligence or willful misconduct. The Company shall advance to you any expenses, including
reasonable attorneys’ fees and costs of settlement, incurred in defending any such proceeding to the maximum extent permitted
by applicable law. Such costs and expenses incurred by you in defense of any such proceeding shall be paid by the Company in advance
of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request for payment; (b) appropriate
documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (c)
an undertaking adequate under applicable law made by or on your behalf to repay the amounts so advanced if it shall ultimately
be determined pursuant to any non-appealable judgment or settlement that you are not entitled to be indemnified by the Company.

 

12.  Not an Employment Agreement.
This Agreement is not an employment agreement, and shall not be construed or interpreted to create any right for you to continue
employment with the Company.

 

13.  Acknowledgement.
You accept this Agreement subject to all the terms and provisions of this Agreement. You agree to accept as binding, conclusive,
and final all decisions or interpretations of the Board of the Company of any questions arising under this Agreement.

 

    3

     

    

 

The Agreement has been executed and delivered by the undersigned
and is made effective as of the date set first set forth above.

 

Sincerely,

 

Powerbridge Technologies Co., Ltd. 

 

By: /s/ Ban Lor                                               

Name:Ban
Lor

Title:Chief
Executive Officer

 

 

 

 

AGREED AND ACCEPTED:

 

By: /s/ Bo Wu                                                    

Name: Bo Wu

 

    4

     

    

	Schedule A	 
	The Director is offered to serve on the following Board committee(s):	 
	 	 	 
	Committee	 	Title
	Audit Committee	 	Member
	Nominating and Governance Committee	 	Chairman
	Compensation Committee	 	Member

 

 

    5

     

    

 

Schedule B

Compensation

 

During your term as a member of Board of Directors of
the Company, you will receive stock option compensation under the Company’s 2018 Stock Option Plan,     as set forth
below:

 

	Stock Options	Amount	Exercise Price	Vesting Schedule	Potential
	 	 	 	 	Forfeiture
	2018 Stock Option Plan	6,000 Shares	Company’s IPO	12 Months	Per terms and
	 	 	price	 	conditions under
	 	 	 	 	2018 Stock
	 	 	 	 	Option Plan

 

 

 

6Exhibit 10.18

 

POWERBRIDGE TECHNOLOGIES CO., LTD.

1st
Floor, Building D2, Southern Software Park

Tangjia Bay, Zhuhai, Guangdong 519080, China

+86-756-339-5666

 

October 23, 2018

 

Ban Lor

A6, Haiyi Wanpan, Tanjia Bay

Zhuhai, Guangdong, China

 

Re: Director Offer Letter

 

Dear Mr. Lor,

 

Powerbridge Technologies Co., Ltd., a Cayman
Islands exempted company with limited liability (the “Company”), is pleased to offer you a position as of member of
its Board of Directors (the “Board”). We believe your background and experience will be a significant asset to the
Company and we look forward to your participation on the Board. Should you choose to accept this position as a member of the Board
and Class II director, this letter agreement (the “Agreement”) shall constitute an agreement between you and the Company
and contains all the terms and conditions relating to the services you agree to provide to the Company.

 

1.  Term.
This Agreement is effective upon your acceptance and signature below. Your term as a Class II director shall continue subject to
the provisions in Section 8 below or until your successor is duly elected and qualified. The position shall be up for re-election
at the third annual shareholder’s meeting following the consummation of the Company’s initial public offering and upon
re-election, the terms and provisions of this Agreement shall remain in full force and effect.

 

2.   Services.
You shall render services as a member of the Board (hereinafter your “Duties”). During the term of this Agreement,
you shall attend and participate in such number of meetings of the Board and of the committee(s) of which you are a member as regularly
or specially called. You may attend and participate at each such meeting via teleconference, video conference or in person. You
shall consult with the other members of the Board and committee(s) as necessary via telephone, electronic mail or other forms of
correspondence.

 

3.    
Compensation. As compensation for your services to the Company, you will receive compensation as set forth on Schedule
A attached hereto (hereinafter, the “Compensation”) per year for serving on the Board during your term
as a director, which shall be paid to you quarterly in arrears as determined by the Company. You shall be reimbursed for reasonable
and approved expenses incurred by you in connection with the performance of your Duties.

 

4.   No Assignment.
Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by you without the prior
written consent of the Company.

 

5.    
Confidential Information; Non-Disclosure. In consideration of your access to certain Confidential Information (as
defined below) of the Company, in connection with your business relationship with the Company, you hereby represent and agree as
follows:

 

a. Definition. For purposes
of this Agreement the term “Confidential Information” means:

 

i. Any information
which the Company possesses that has been created, discovered or developed by or for the Company, and which has or could have commercial
value or utility in the business in which the Company is engaged; or

 

ii.   Any information
which is related to the business of the Company and is generally not known by non-Company personnel.

 

iii. 
Confidential Information includes, without limitation, trade secrets and any information concerning services provided by the Company,
concepts, ideas, improvements, techniques, methods, research, data, know-how, software, formats, marketing plans, and analyses,
business plans and analyses, strategies, forecasts, customer and supplier identities, characteristics and agreements.

 

    	 	1	 

     

    

 

b. Exclusions. Notwithstanding
the foregoing, the term Confidential Information shall not include:

 

i. Any information
which becomes generally available to the public other than as a result of a breach of the confidentiality portions of this Agreement,
or any other agreement requiring confidentiality between the Company and you;

 

ii.  Information received
from a third party in rightful possession of such information who is not restricted from disclosing such information; and

 

iii.   Information known
by you prior to receipt of such information from the Company, which prior knowledge can be documented.

 

c.  Documents.
You agree that, without the express written consent of the Company, you will not remove from the Company's premises, any notes,
formulas, programs, data, records, machines or any other documents or items which in any manner contain or constitute Confidential
Information, nor will you make reproductions or copies of same. You shall promptly return any such documents or items, along with
any reproductions or copies, to the Company upon the earliest of Company's demand, termination of this Agreement, or your termination
or Resignation, as defined in Section 8 herein.

 

d.   
Confidentiality. You agree that you will hold in trust and confidence all Confidential Information and will not disclose
to others, directly or indirectly, any Confidential Information or anything relating to such information without the prior written
consent of the Company, except as maybe necessary in the course of your business relationship with the Company. You further agree
that you will not use any Confidential Information without the prior written consent of the Company, except as may be necessary
in the course of your business relationship with the Company, and that the provisions of this paragraph (d) shall survive termination
of this Agreement.

 

e.  
Ownership. You agree that Company shall own all right, title and interest (including patent rights, copyrights, trade
secret rights, mask work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout
the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs,
know-how, ideas and information made or conceived or reduced to practice, in whole or in part, by you during the term of this Agreement
and that arise out of your Duties (collectively, “Inventions”) and you will promptly disclose and provide all Inventions
to the Company. You agree to assist the Company, at its expense, to further evidence, record and perfect such assignments, and
to perfect, obtain, maintain, enforce, and defend any rights assigned.

 

6.   
Non-Competition. You agree and undertake that you will not, so long as you are a member of the Board and for a period
of 24 months following termination of this Agreement for whatever reason, directly or indirectly as owner, partner, joint venture,
shareholder, employee, broker, agent principal, corporate officer, director, licensor or in any other capacity whatsoever, engage
in, become financially interested in, be employed by, or have any connection with any business or venture that is engaged in any
activities involving services or products which compete, directly or indirectly, with the services or products provided or proposed
to be provided by the Company or its subsidiaries or affiliates; provided, however, that you may own
securities of any public corporation which is engaged in such business but in an amount not to exceed at any one time, one percent
of any class of stock or securities of such company, so long as you has no active role in the publicly owned company as director,
employee, consultant or otherwise.

 

7.   Non-Solicitation.
So long as you are a member of the Board and for a period of 24 months thereafter, you shall not directly or indirectly solicit
for employment any individual who was an employee of the Company during your tenure.

 

8.  Termination
and Resignation. Your membership on the Board may be terminated for any or no reason by a vote of the shareholders
holding at least a majority of the shares of the Company’s issued and outstanding shares entitled to vote. Your
membership on the Board or on a Board committee shall be terminated if you become of unsound mind or are prohibited by
law from being so. You may also terminate your membership on the Board or on a committee for any or no reason by delivering
your written notice of resignation to the Company (“Resignation”), and such Resignation shall be effective upon
the time specified therein or, if no time is specified, upon receipt of the notice of Resignation by the Company. Upon the
effective date of the termination or Resignation, your right to compensation hereunder will terminate subject to the
Company's obligations to pay you any compensation (including the vested portion of the Shares) that you have already earned
and to reimburse you for approved expenses already incurred in connection with your performance of your Duties as of the
effective date of such termination or Resignation. Any Shares that have not vested as of the effective date of such
termination or Resignation shall be forfeited and cancelled.

 

    	 	2	 

     

    

 

9.   Governing
Law. All questions with respect to the construction and/or enforcement of this Agreement, and the rights and obligations
of the parties hereunder, shall be determined in accordance with the law of the State of New York applicable to agreements made
and to be performed entirely in the State of New York.

 

10.   Entire
Agreement; Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to the subject
matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any
term of this Agreement may be amended and observance of any term of this Agreement may be waived only with the written consent
of the parties hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any
subsequent breach or failure of the same term or condition or waiver of any other term or condition of this Agreement. The failure
of any party at any time to require performance by any other party of any provision of this Agreement shall not affect the right
of any such party to require future performance of such provision or any other provision of this Agreement. This Agreement may
be executed in separate counterparts each of which will be an original and all of which taken together will constitute one and
the same agreement, and may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to be the
same, and equally enforceable, as an original of such signature.

 

11.   Indemnification.
The Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any expenses,
including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts (“Losses”),
incurred in connection with any proceeding arising out of, or related to, your performance of your Duties, other than any such
Losses incurred as a result of your negligence or willful misconduct. The Company shall advance to you any expenses, including
reasonable attorneys’ fees and costs of settlement, incurred in defending any such proceeding to the maximum extent permitted
by applicable law. Such costs and expenses incurred by you in defense of any such proceeding shall be paid by the Company in advance
of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request for payment; (b) appropriate
documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (c)
an undertaking adequate under applicable law made by or on your behalf to repay the amounts so advanced if it shall ultimately
be determined pursuant to any non-appealable judgment or settlement that you are not entitled to be indemnified by the Company.

 

12.  Not an Employment Agreement.
This Agreement is not an employment agreement, and shall not be construed or interpreted to create any right for you to continue
employment with the Company.

 

13.  Acknowledgement.
You accept this Agreement subject to all the terms and provisions of this Agreement. You agree to accept as binding, conclusive,
and final all decisions or interpretations of the Board of the Company of any questions arising under this Agreement.

 

    	 	3	 

     

    

 

The Agreement has been executed and delivered by the undersigned
and is made effective as of the date set first set forth above.

 

	 	Sincerely,
	 	 	 
	 	Powerbridge Technologies Co., Ltd.
	 	 	 
	 	By:	/s/ Ban Lor
	 	Name:	Ban Lor
	 	Title:	Chief Executive Officer

 

	AGREED AND ACCEPTED:	 
	 	 	 
	By:	/s/ Ban Lor	 
	Name: 	Ban Lor	 

 

    	 	4	 

     

    

 

Schedule A

Compensation

 

During your term as a member of Board of Directors of the Company,
you will receive cash compensation in the amount of $4,500, payable quarterly.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	5

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