Document:

Exhibit 10.1

 

INDEMNIFICATION AGREEMENT

 

This Indemnification
Agreement (this “Agreement”) is entered into as of by and between Jinxuan Coking Coal Limited, a Cayman Islands
company (the “Company”), and the undersigned, a director and/or an officer of the Company (“Indemnitee”),
as applicable.

 

RECITALS

 

The Board of Directors
of the Company (the “Board of Directors”) has determined that the inability to attract and retain highly competent
persons to serve the Company is detrimental to the best interests of the Company and its shareholders and that it is reasonable
and necessary for the Company to provide adequate protection to such persons against risks of claims and actions against them
arising out of their services to the corporation.

 

AGREEMENT

 

In consideration of
the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

		A.	DEFINITIONS

 

The following terms shall have the meanings
defined below:

 

Expenses
shall include, without limitation, damages, judgments, fines, penalties, settlements and costs, attorneys’ fees and disbursements
and costs of attachment or similar bond, investigations, and any other expenses paid or incurred in connection with investigating,
defending, being a witness in, participating in (including on appeal), or preparing for any of the foregoing in, any Proceeding.

 

Indemnifiable
Event means any event or occurrence that takes place either before or after the execution of this Agreement, related to
the fact that Indemnitee is or was a director or an officer of the Company, or is or was serving at the request of the Company
as a director or officer of another corporation, partnership, joint venture or other entity, or related to anything done or not
done by Indemnitee in any such capacity, including, but not limited to neglect, breach of duty, error, misstatement, misleading
statement or omission.

 

Participant
means a person who is a party to, or witness or participant (including on appeal) in, a Proceeding.

 

Proceeding
means any threatened, pending, or completed action, suit, arbitration or proceeding, or any inquiry, hearing or investigation,
whether civil, criminal, administrative, investigative or other, including appeal, in which Indemnitee may be or may have been
involved as a party or otherwise by reason of an Indemnifiable Event.

 

		B.	AGREEMENT
TO INDEMNIFY

 

1. General Agreement.
In the event Indemnitee was, is, or becomes a Participant in, or is threatened to be made a Participant in, a Proceeding, the Company
shall indemnify the Indemnitee from and against any and all Expenses which Indemnitee incurs or becomes obligated to incur in connection
with such Proceeding, to the fullest extent permitted by applicable law.

 

2. Indemnification
of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has
been successful on the merits in defense of any Proceeding or in defense of any claim, issue or matter in such Proceeding, the
Company shall indemnify Indemnitee against all Expenses incurred in connection with such Proceeding or such claim, issue or matter,
as the case may be.

 

3. Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for a portion of Expenses, but not for the total amount of Expenses, the Company shall indemnify the Indemnitee
for the portion of such Expenses to which Indemnitee is entitled.

 

     

     

    

 

4. No Employment
Rights. Nothing in this Agreement is intended to create in Indemnitee any right to continued employment with the Company.

 

5. Contribution.
If the indemnification provided in this Agreement is unavailable and may not be paid to Indemnitee for any reason other than those
set forth in Section B.4, then the Company shall contribute to the amount of Expenses paid in settlement actually and reasonably
incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by
the Company on the one hand and by the Indemnitee on the other hand from the transaction or events from which such Proceeding arose,
and (ii) the relative fault of the Company on the one hand and of the Indemnitee on the other hand in connection with the events
which resulted in such Expenses, as well as any other relevant equitable considerations. The relative fault of the Company on the
one hand and of the Indemnitee on the other hand shall be determined by reference to, among other things, the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such Expenses, judgments,
fines or settlement amounts. The Company agrees that it would not be just and equitable if contribution pursuant to this Section
B.6 were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable
considerations.

 

		C.	INDEMNIFICATION
PROCESS

 

1. Notice and Cooperation
By Indemnitee. Indemnitee shall, as a condition precedent to his/her right to be indemnified under this Agreement, give the
Company notice in writing as soon as practicable of any claim made against Indemnitee for which indemnification will or could be
sought under this Agreement, provided that the delay of Indemnitee to give notice hereunder shall not prejudice any of Indemnitee’s
rights hereunder, unless such delay results in the Company’s forfeiture of substantive rights or defenses. Notice to the
Company shall be given in accordance with Section F.7 below. If, at the time of receipt of such notice, the Company has directors’
and officers’ liability insurance policies in effect, the Company shall give prompt notice to its insurers of the Proceeding
relating to the notice. The Company shall thereafter take all necessary and desirable action to cause such insurers to pay, on
behalf of Indemnitee, all Expenses payable as a result of such Proceeding. In addition, Indemnitee shall give the Company such
information and cooperation as the Company may reasonably request.

 

		2.	Indemnification
Payment.

 

(a) Advancement
of Expenses. Indemnitee may submit a written request with reasonable particulars to the Company requesting that the Company
advance to Indemnitee all Expenses that may be reasonably incurred in advance by Indemnitee in connection with a Proceeding. The
Company shall, within 10 business days of receiving such a written request by Indemnitee, advance all requested Expenses to Indemnitee.
Any excess of the advanced Expenses over the actual Expenses will be repaid to the Company.

 

(b) Reimbursement
of Expenses. To the extent Indemnitee has not requested any advanced payment of Expenses from the Company, Indemnitee shall
be entitled to receive reimbursement for the Expenses incurred in connection with a Proceeding from the Company immediately after
Indemnitee makes a written request to the Company for reimbursement unless the Company refers the indemnification request to the
Reviewing Party in compliance with Section C.2(c) below.

 

(c) Determination
by the Reviewing Party. If the Company reasonably believes that it is not obligated under this Agreement to indemnify the Indemnitee,
the Company shall, within 10 days after the Indemnitee’s written request for an advancement or reimbursement of Expenses,
notify the Indemnitee that the request for advancement of Expenses or reimbursement of Expenses will be submitted to the Reviewing
Party (as hereinafter defined). The Reviewing Party shall make a determination on the request within 30 days after the Indemnitee’s
written request for an advancement or reimbursement of Expenses. Notwithstanding anything foregoing to the contrary, in the event
the Reviewing Party informs the Company that Indemnitee is not entitled to indemnification in connection with a Proceeding under
this Agreement or applicable law, the Company shall be entitled to be reimbursed by Indemnitee for all the Expenses previously
advanced or otherwise paid to Indemnitee in connection with such Proceeding; provided, however, that Indemnitee may
bring a suit to enforce his/her indemnification right in accordance with Section C.3 below.

 

     

     

    

 

3.
Suit to Enforce Rights. Regardless of any action by the Reviewing Party, if Indemnitee has not received full indemnification
within 30 days after making a written demand in accordance with Section C.2 above or 50 days if the Company submits a request
for advancement or reimbursement to the Reviewing Party under Section C.2(c) above, Indemnitee shall have the right to enforce
its indemnification rights under this Agreement by commencing litigation in any court of competent jurisdiction seeking a determination
by the court or challenging any determination by the Reviewing Party or any aspect of this Agreement. Any determination by the
Reviewing Party not challenged by Indemnitee and any judgment entered by the court shall be binding on the Company and Indemnitee.

 

4. Assumption of
Defense. In the event the Company is obligated under this Agreement to advance or bear any Expenses for any Proceeding against
Indemnitee, the Company shall be entitled to assume the defense of such Proceeding, with counsel approved by Indemnitee, upon delivery
to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee
and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees
of counsel subsequently incurred by Indemnitee with respect to the same Proceeding, unless (i) the employment of counsel by Indemnitee
has been previously authorized by the Company, (ii) Indemnitee shall have reasonably concluded, based on written advice of counsel,
that there may be a conflict of interest of such counsel retained by the Company between the Company and Indemnitee in the conduct
of any such defense, or (iii) the Company ceases or terminates the employment of such counsel with respect to the defense of such
Proceeding, in any of which events the fees and expenses of Indemnitee’s counsel shall be at the expense of the Company.
At all times, Indemnitee shall have the right to employ counsel in any Proceeding at Indemnitee’s expense.

 

5. Defense to Indemnification,
Burden of Proof and Presumptions. It shall be a defense to any action brought by Indemnitee against the Company to enforce
this Agreement that it is not permissible under this Agreement or applicable law for the Company to indemnify the Indemnitee for
the amount claimed. In connection with any such action or any determination by the Reviewing Party or otherwise as to whether Indemnitee
is entitled to be indemnified under this Agreement, the burden of proving such a defense or determination shall be on the Company.

 

6. No Settlement
Without Consent. Neither party to this Agreement shall settle any Proceeding in any manner that would impose any damage, loss,
penalty or limitation on Indemnitee without the other party’s written consent. Neither the Company nor Indemnitee shall unreasonably
withhold its consent to any proposed settlement.

 

7. Company Participation.
Subject to Section B.5, the Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial
action if the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense, conduct
and/or settlement of such action.

 

		8.	Reviewing
Party.

 

(a)
For purposes of this Agreement, the Reviewing Party with respect to each indemnification request of Indemnitee that is referred
by the Company pursuant to Section C.2(c) above shall be (A) the Board of Directors by a majority vote of a quorum consisting
of Disinterested Directors (as hereinafter defined), or (B) if a quorum of the Board of Directors consisting of Disinterested
Directors is not obtainable or, even if obtainable, said Disinterested Directors so direct, by Independent Counsel in a written
opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee. If the Reviewing Party determines that Indemnitee
is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee
shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to
indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information
which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably
necessary to such determination. Any Independent Counsel or member of the Board of Directors shall act reasonably and in good
faith in making a determination under this Agreement of the Indemnitee’s entitlement to indemnification. Any reasonable
costs or expenses (including reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with
the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to
Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.
“Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in
respect of which indemnification is sought by Indemnitee.

 

     

     

    

 

(b) If
the determination of entitlement to indemnification is to be made by Independent Counsel, the Independent Counsel shall be selected
as provided in this Section C.8(b). The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that
such selection be made by the Board of Directors, in which event the proceeding sentence shall apply), and Indemnitee shall give
written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or
the Company, as the case may be, may, within 10 days after such written notice of selection shall have been given, deliver to the
Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section C.8(d) of this Agreement, and the objection shall set forth with particularity the factual
basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written
objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such
objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days after submission by Indemnitee
of a written request for indemnification, no Independent Counsel shall have been selected and not objected to, either the Company
or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the
Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of
a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections
are so resolved or the person so appointed shall act as Independent Counsel. The Company shall pay any and all reasonable fees
and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting under this Agreement, and the
Company shall pay all reasonable fees and expenses incident to the procedures of this Section C.8(b), regardless of the manner
in which such Independent Counsel was selected or appointed.

 

(c) In
making a determination with respect to entitlement to indemnification hereunder, the Reviewing Party shall presume that Indemnitee
is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with
this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making by any
person, persons or entity of any determination contrary to that presumption. The termination of any Proceeding or of any claim,
issue or matter therein, by judgment, order, settlement (with or without court approval), conviction, or upon a plea of nolocontendere
or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of
Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he/she reasonably
believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee
had reasonable cause to believe that his/her conduct was unlawful. For purposes of any determination of good faith, Indemnitee
shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Company
and any other corporation, partnership, joint venture or other entity of which Indemnitee is or was serving at the written request
of the Company as a director, officer, employee, agent or fiduciary, including financial statements, or on information supplied
to Indemnitee by the officers and directors of the Company or such other corporation, partnership, joint venture or other entity
in the course of their duties, or on the advice of legal counsel for the Company or such other corporation, partnership, joint
venture or other entity or on information or records given or reports made to the Company or such other corporation, partnership,
joint venture or other entity by an independent certified public accountant or by an appraiser or other expert selected with reasonable
care by the Company or such other corporation, partnership, joint venture or other entity. In addition, the knowledge and/or actions,
or failure to act, of any director, officer, agent or employee of the Company or such other corporation, partnership, joint venture
or other entity shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.
The provisions of this Section C.8(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which
the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

 

(d) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such
party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar
indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding
the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred
to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating
to this Agreement or its engagement pursuant hereto.

 

     

     

    

 

		D.	DIRECTOR
AND OFFICER LIABILITY INSURANCE

 

1. Good Faith Determination.
The Company shall from time to time make the good faith determination whether or not it is practicable for the Company to obtain
and maintain a policy or policies of insurance with reputable insurance companies providing the officers and directors of the Company
with coverage for losses incurred in connection with their services to the Company or to ensure the Company’s performance
of its indemnification obligations under this Agreement.

 

2. Coverage of
Indemnitee. To the extent the Company maintains an insurance policy or policies providing directors’ and officers’
liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum
extent of the coverage available for any of the Company’s directors or officers.

 

3.
No Obligation. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain any director and
officer insurance policy if the Company determines in good faith that such insurance is not reasonably available in the case that
(i) premium costs for such insurance are disproportionate to the amount of coverage provided, or (ii) the coverage provided by
such insurance is limited by exclusions so as to provide an insufficient benefit.

 

		E.	NON-EXCLUSIVITY;
U.S. FEDERAL PREEMPTION; TERM

 

1. Non-Exclusivity.
The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled
under the Company’s current memorandum and articles of association, as may be amended from time to time, applicable law or
any written agreement between Indemnitee and the Company (including its subsidiaries and affiliates). The indemnification provided
under this Agreement shall continue to be available to Indemnitee for any action taken or not taken while serving in an indemnified
capacity even though he/she may have ceased to serve in any such capacity at the time of any Proceeding.

 

2. U.S. Federal
Preemption. Notwithstanding the foregoing, both the Company and Indemnitee acknowledge that in certain instances, U.S. federal
law or public policy may override applicable law and prohibit the Company from indemnifying its directors and officers under this
Agreement or otherwise. Such instances include, but are not limited to, the U.S. Securities and Exchange Commission (the “SEC”)’s
prohibition on indemnification for liabilities arising under certain U.S. federal securities laws. Indemnitee understands and acknowledges
that the Company has undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification
to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee.

 

3.
Duration of Agreement. All agreements and obligations of the Company contained herein shall continue during the period
Indemnitee is an officer and/or a director of the Company (or is or was serving at the request of the Company as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or other enterprise) and shall continue thereafter
so long as Indemnitee shall be subject to any Proceeding by reason of his/her former or current capacity at the Company, whether
or not he/she is acting or serving in any such capacity at the time any Expense is incurred for which indemnification can be provided
under this Agreement. This Agreement shall continue in effect regardless of whether Indemnitee continues to serve as an officer
and/or a director of the Company or any other enterprise at the Company’s request.

 

		F.	MISCELLANEOUS

 

1. Amendment of
this Agreement. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by
the parties hereto. No waiver of any of the provisions of this Agreement shall operate as a waiver of any other provisions (whether
or not similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided in this Agreement, no failure
to exercise or any delay in exercising any right or remedy shall constitute a waiver.

 

     

     

    

 

2. Subrogation.
In the event of payment to Indemnitee by the Company under this Agreement, the Company shall be subrogated to the extent of such
payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may
be necessary to secure such rights, including the execution of such documents necessary to enable the Company to bring suit to
enforce such rights.

 

3. Assignment;
Binding Effect. Neither this Agreement nor any of the rights or obligations hereunder may be assigned by either party hereto
without the prior written consent of the other party; except that the Company may, without such consent, assign all such rights
and obligations to a successor in interest to the Company which assumes all obligations of the Company under this Agreement. Notwithstanding
the foregoing, this Agreement shall be binding upon and inure to the benefit of and be enforceable by and against the parties hereto
and the Company’s successors (including any direct or indirect successor by purchase, merger, consolidation, or otherwise
to all or substantially all of the business and/or assets of the Company) and assigns, as well as Indemnitee’s spouses, heirs,
and personal and legal representatives.

 

4.
Severability and Construction. Nothing in this Agreement is intended to require or shall be construed as requiring the
Company to do or fail to do any act in violation of applicable law. The Company’s inability, pursuant to a court order,
to perform its obligations under this Agreement shall not constitute a breach of this Agreement. In addition, if any portion of
this Agreement shall be held by a court of competent jurisdiction to be invalid, void, or otherwise unenforceable, the remaining
provisions shall remain enforceable to the fullest extent permitted by applicable law. The parties hereto acknowledge that they
each have opportunities to have their respective counsels review this Agreement. Accordingly, this Agreement shall be deemed to
be the product of both of the parties hereto, and no ambiguity shall be construed in favor of or against either of the parties
hereto.

 

5. Counterparts.
This Agreement may be executed in two counterparts, both of which taken together shall constitute one instrument.

 

6. Governing Law.
This agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed,
construed and interpreted in accordance with the laws of the State of New York, without giving effect to conflicts of law provisions
thereof.

 

7. Notices.
All notices, demands, and other communications required or permitted under this Agreement shall be made in writing and shall be
deemed to have been duly given if delivered by hand, against receipt, or mailed via postage prepaid, certified or registered mail,
return receipt requested, and addressed to the Company at:

 

Jinxuan
Coking Coal Limited

 

Attention: Chief Financial Officer

 

and to Indemnitee at his/her address last known to the Company.

 

8. Entire Agreement.
This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral,
between the parties with respect to the subject matter hereof.

 

(Signature page follows)

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto execute this Agreement
as of the date first written above.

 

	Jinxuan Coking Coal Limited	 
	 	 	 
	By:	 	 
	Name:  	 	 
	Title:	 	 
	 	 	 
	Indemnitee
	 	 	 
	Signature:  	 	 
	Name:	 	 

 

 

 

 

[Signature Page to
Indemnification Agreement]Exhibit 10.2

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT
AGREEMENT (the “Agreement”), is entered into as of                                         
by and between Jinxuan Coking Coal Limited, a company incorporated and existing under the laws of the Cayman Islands (the “Company”),
and                                         ,
an individual (the “Executive”). The term “Company” as used herein with respect to all obligations
of the Executive hereunder shall be deemed to include the Company and all of its direct or indirect parent companies, subsidiaries,
affiliates, or subsidiaries or affiliates of its parent companies (collectively, the “Group”).

 

RECITALS

 

The Company desires
to employ the Executive and to assure itself of the services of the Executive during the term of Employment (as defined below).

 

The Executive
desires to be employed by the Company during the term of Employment and upon the terms and conditions of this Agreement.

 

AGREEMENT

 

The parties hereto
agree as follows:

 

	 	1.	POSITION

 

The Executive hereby accepts
a position of                                         
of the Company (the “Employment”).

 

	 	2.	TERM

 

Subject to the terms and conditions
of this Agreement, the initial term of the Employment shall be [            years],
commencing on July 1, 2017 (the “Effective Date”), unless terminated earlier pursuant to the terms
of this Agreement. Upon expiration of the initial-year term, the Employment shall be automatically extended for successive              -year
terms unless either party gives the other party hereto a three-month prior written notice to terminate the Employment prior to
the expiration of such             -year term or unless terminated
earlier pursuant to the terms of this Agreement.

 

	 	3.	PROBATION

 

No probationary period.

 

	 	4.	DUTIES AND RESPONSIBILITIES

 

The Executive’s duties
at the Company will include all jobs assigned by the Company’s Board of Directors (the “Board”) and/or
the Chief Executive Officer of the Company.

 

The Executive shall devote
all of his/her working time, attention and skills to the performance of his/her duties at the Company and shall faithfully and
diligently serve the Company in accordance with this Agreement, the Memorandum and Articles of Association of the Company
(the “Articles of Association”), and the guidelines, policies and procedures of the Company approved from time
to time by the Board.

 

     

     

    

 

	 	5.	NO BREACH OF CONTRACT

 

The
Executive shall use his/her best efforts to perform his/her duties hereunder. The Executive shall not, without prior consent
of the Board, become an employee of any entity other than the Company and any subsidiary or affiliate of the Company, and shall
not be concerned or interested in any business or entity that directly or indirectly competes with the Group (any such business
or entity, a “Competitor”), provided that nothing in this clause shall preclude the Executive from holding up
to              %
of shares or other securities of any Competitor that is listed on any securities exchange or recognized securities market anywhere, provided
however, that the Executive shall notify the Company in writing prior to his/her obtaining a proposed interest in such
shares or securities in a timely manner and with such details and particulars as the Company may reasonably require. The Company
shall have the right to require the Executive to resign from any board or similar body which he/she may then serve if the Board
reasonably determines in writing that the Executive’s service on such board or body interferes with the effective discharge
of the Executive’s duties and responsibilities to the Company or that any business related to such service is then in competition
with any business of the Company or any of its subsidiaries or affiliates.

 

The Executive hereby represents
to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance by the Executive
of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement
or policy to which the Executive is a party or otherwise bound, except for agreements that are required to be entered into by and
between the Executive and any member of the Group pursuant to applicable law of the jurisdiction where the Executive is based,
if any; (ii) that the Executive has no information (including, without limitation, confidential information and trade secrets)
relating to any other person or entity which would prevent, or be violated by, the Executive entering into this Agreement or carrying
out his/her duties hereunder; (iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement
(other than this) with any other person or entity except for other member(s) of the Group, as the case may be.

 

	 	6.	LOCATION

 

The
Executive will be based in [Taiyuan, the People’s Republic of China],
until both parties hereto agree to change otherwise. The Executive acknowledges that he/she may be required to travel from time
to time in the course of performing his/her duties for the Company.

 

	 	7.	COMPENSATION AND BENEFITS

 

		(a)	Compensation. The
Executive’s cash compensation (inclusive of the statutory welfare reserves that the Company is required to set aside for
the Executive under applicable law) shall be provided by the Company in a separate schedule or as specified in a separate agreement
between the executive and the company’s designated subsidiary or affiliated entity, subject to annual review and adjustment
by the Company or the compensation committee of the Board. The cash compensation may be paid by the Company, a subsidiary
or affiliated entity or a combination thereof, as designated by the Company from time to time.

 

	 	(b)	Equity Incentives. To the extent the Company adopts and maintains a share incentive plan, the Executive will be eligible to participate in such plan pursuant to the terms thereof.

 

	 	(c)	Benefits. The Executive is eligible for participation in any standard employee benefit plan of the Company that currently exists or may be adopted by the Company in the future, including, but not limited to, any retirement plan, life insurance plan, health insurance plan and travel/holiday plan.

 

	 	(d)	Annual Leave. Upon the Effective Date, the Executive is entitled to              days per annum of paid leave, which shall accrue on a pro rata basis each year.

 

     

     

    

 

		8.	TERMINATION
OF THE AGREEMENT

 

	 	(a)	By the Company. The Company may terminate the Employment for cause, at any time, without notice or remuneration, if the Executive (1) commits any serious or persistent breach or non-observance of the terms and conditions of your employment; (2) is convicted of a criminal offence other than one which in the opinion of the Board does not affect the executive’s position as an employee of the Company, bearing in mind the nature of your duties and the capacity in which the executive is employed; (3) willfully disobeys a lawful and reasonable order; (4) misconducts himself/herself and such conduct being inconsistent with the due and faithful discharge of the Executive’s material duties; (5) is guilty of fraud or dishonesty; or (6) is habitually neglectful in his/her duties. The Company may terminate the Employment without cause at any time with a three-month prior written notice to the Executive or by payment of three months’ salary in lieu of notice.

 

	 	(b)	By the Executive. The Executive may terminate the Employment at any time with a three-month prior written notice to the Company or by payment of three months’ salary in lieu of notice. In addition, the Executive may resign prior to the expiration of the Agreement if such resignation or an alternative arrangement with respect to the Employment is approved by the Board.

 

	 	(c)	Notice of Termination. Any termination of the Executive’s employment under this Agreement shall be communicated by written notice of termination from the terminating party to the other party. The notice of termination shall indicate the specific provision(s) of this Agreement relied upon in effecting the termination.

 

		9.	CONFIDENTIALITY
AND NONDISCLOSURE

 

	 	(a)	Confidentiality and Non-disclosure. The Executive hereby agrees at all times during the term of his/her employment and after termination, to hold in the strictest confidence, and not to use, except for the benefit of the Group, or to disclose to any person, corporation or other entity without written consent of the Company, any Confidential Information. The Executive understands that “Confidential Information” means any proprietary or confidential information of the Group, its affiliates, their clients, customers or partners, and the Group’s licensors, including, without limitation, technical data, trade secrets, research and development information, product plans, services, customer lists and customers (including, but not limited to, customers of the Group on whom the Executive called or with whom the Executive became acquainted during the term of his/her employment), supplier lists and suppliers, software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, personnel information, marketing, finances, information about the suppliers, joint ventures, licensors, licensees, distributors and other persons with whom the Group does business, information regarding the skills and compensation of other employees of the Group or other business information disclosed to the Executive by or obtained by the Executive from the Group, its affiliates, or their clients, customers or partners either directly or indirectly in writing, orally or by drawings or observation of parts or equipment, if specifically indicated to be confidential or reasonably expected to be confidential. Notwithstanding the foregoing, Confidential Information shall not include information that is generally available and known to the public through no fault of the Executive.

 

	 	(b)	Company Property. The Executive understands that all documents (including computer records, facsimile and e-mail) and materials created, received or transmitted in connection with his/her work or using the facilities of the Group are property of the Group and subject to inspection by the Group, at any time. Upon termination of the Executive’s employment with the Company (or at any other time when requested by the Company), the Executive will promptly deliver to the Company all documents and materials of any nature pertaining to his/her work with the Company and will provide written certification of his compliance with this Agreement. Under no circumstances will the Executive have, following his/her termination, in his/her possession any property of the Group, or any documents or materials or copies thereof containing any Confidential Information.

 

     

     

    

 

	 	(c)	Former Employer Information. The Executive agrees that he has not and will not, during the term of his/her employment, (i) improperly use or disclose any proprietary information or trade secrets of any former employer or other person or entity with which the Executive has an agreement or duty to keep in confidence information acquired by Executive, if any, or (ii) bring into the premises of the Group any document or confidential or proprietary information belonging to such former employer, person or entity unless consented to in writing by such former employer, person or entity. The Executive will indemnify the Group and hold it harmless from and against all claims, liabilities, damages and expenses, including reasonable attorneys’ fees and costs of suit, arising out of or in connection with any violation of the foregoing.

 

	 	(d)	Third Party Information. The Executive recognizes that the Group may have received, and in the future may receive, from third parties their confidential or proprietary information subject to a duty on the Group’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. The Executive agrees that the Executive owes the Group and such third parties, during the Executive’s employment by the Company and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person or firm and to use it in a manner consistent with, and for the limited purposes permitted by, the Group’s agreement with such third party.

 

This Section 9 shall
survive the termination of this Agreement for any reason. In the event the Executive breaches this Section 9, the Company
shall have right to seek remedies permissible under applicable law.

 

		10.	WITHHOLDING
TAXES

 

Notwithstanding anything
else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise
due or payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or other taxes
as may be required to be withheld pursuant to any applicable law or regulation.

 

		11.	NOTIFICATION
OF NEW EMPLOYER

 

In the event that the Executive
leaves the employ of the Company, the Executive hereby grants consent to notification by the Company to his/her new employer about
his/her rights and obligations under this Agreement.

 

	 	12.	ASSIGNMENT

 

This Agreement is personal
in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any
rights or obligations hereunder; provided, however, that (i) the Company may assign or transfer this Agreement
or any rights or obligations hereunder to any member of the Group without such consent, and (ii) in the event of a merger,
consolidation, or transfer or sale of all or substantially all of the assets of the Company with or to any other individual(s) or
entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and
such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder.

 

	 	13.	SEVERABILITY

 

If any provision of this
Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this
Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement
are declared to be severable.

     

     

    

 

	 	14.	ENTIRE AGREEMENT

 

This Agreement constitutes
the entire agreement and understanding between the Executive and the Company regarding the terms of the Employment and supersedes
all prior or contemporaneous oral or written agreements concerning such subject matter, other than any such agreement under any
employment agreement entered into with a subsidiary of the Company at the request of the Company to the extent such agreement does
not conflict with any of the provisions herein. The Executive acknowledges that he/she has not entered into this Agreement
in reliance upon any representation, warranty or undertaking which is not set forth in this Agreement. Any amendment to this
Agreement must be in writing and signed by the Executive and the Company.

 

	 	15.	REPRESENTATIONS

 

The Executive hereby agrees
to execute any proper oath or verify any proper document required to carry out the terms of this Agreement. The Executive hereby
represents that the Executive’s performance of all the terms of this Agreement will not breach any agreement to keep in confidence
proprietary information acquired by the Executive in confidence or in trust prior to his/her employment by the Company. The Executive
has not entered into, and hereby agrees that he/she will not enter into, any oral or written agreement in conflict with this Section 18.
The Executive represents that the Executive will consult his/her own consultants for tax advice and is not relying on the Company
for any tax advice with respect to this Agreement or any provisions hereunder.

 

	 	16.	GOVERNING LAW

 

This Agreement shall be
governed by and construed in accordance with the laws of the State of New York.

 

	 	17.	ARBITRATION

 

Any
dispute arising out of, in connection with or relating to, this Agreement shall be resolved through arbitration pursuant to this
Section 17. The arbitration shall be conducted in Hong Kong under the auspices of the Hong Kong International Arbitration
Centre (the “Centre”) in accordance with the rules of the United Nations Commission of International Trade Law (“UNCITRAL
Rules”) in effect at the time of the arbitration.  There
shall be one arbitrator. The award of the arbitration tribunal shall be final and binding upon the disputing parties, and any party
may apply to a court of competent jurisdiction for enforcement of such award.

 

	 	18.	AMENDMENT

 

This Agreement may not be
amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this
Agreement, which agreement is executed by both of the parties hereto.

 

	 	19.	WAIVER

 

Neither the failure nor
any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver
thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise
of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect
to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No
waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

 

     

     

    

 

	 	20.	NOTICES

 

All notices, requests, demands
and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given
and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by a recognized
courier with next-day or second-day delivery to the last known address of the other party.

 

	 	21.	COUNTERPARTS

 

This Agreement may be executed
in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon,
and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more counterparts
hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic
copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

	 	22.	NO INTERPRETATION AGAINST DRAFTER

 

Each party recognizes that
this Agreement is a legally binding contract and acknowledges that such party has had the opportunity to consult with legal counsel
of choice. In any construction of the terms of this Agreement, the same shall not be construed against either party on the
basis of that party being the drafter of such terms. The Executive agrees and acknowledges that he/she has read and understands
this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel prior to entering into this Agreement
and has ample opportunity to do so.

 

[Remainder of
this page has been intentionally left blank.]

 

     

     

    

 

IN WITNESS WHEREOF, this Agreement
has been executed as of the date first written above.

 

	Jinxuan Coking Coal Limited	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	Executive	 	 
	 	 	 
	Signature: 	 	 
	Name:	 	 

 

[Signature Page to
Employment Agreement]

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