Document:

lhdx-ex101_99.htm

 

Exhibit 10.1

LUCIRA HEALTH, INC.

 

		
	
Kevin Collins
	
May 6, 2021

 

Dear Kevin,

On behalf of Lucira Health Inc. (the “Company”), it is my pleasure to offer you employment beginning on May 27, 2021 (the “Start Date”). This letter shall serve to confirm the terms of your employment with the Company.

 

If the terms below are acceptable to you, please sign this confirmation letter where indicated and return it to me.

 

SUMMARY:

Position. Your initial position will be Chief Revenue Officer. The responsibilities associated with this position are outlined below in Exhibit A and may change due to the dynamic nature of the job. You will primarily work at our office located in Emeryville, CA. Of course, the Company may change your position, duties, and work location from time to time in its discretion.

Salary. Your initial base salary will be $440,000.00 per year, less payroll deductions and withholdings, paid on the Company’s normal payroll schedule. All reasonable business expenses that are documented by you will be reimbursed that are incurred in the ordinary course of business.

Annual Discretionary Bonus. You will also be eligible to earn an annual discretionary bonus of up to 40% of your base salary. The amount of this bonus will be determined in the sole discretion of the Company and based, in part, on your performance and the performance of the Company during the calendar year, as well as any other criteria the Company deems relevant, as set forth in the Company’s Employee Bonus Program or any successor bonus program sponsored by the Company. The Company will pay you this bonus, if any, no later than March 15th of the following calendar year. The bonus is not earned until paid and no pro-rated amount will be paid if your employment terminates for any reason prior to the payment date.

 

Sales Commission Plan. While you remain employed by the Company, you will also be eligible to earn sales commissions with a target of 30% of your base salary. The terms and conditions for earning sales commissions will be governed by the Company’s Sales Commission Plan, which will be acceptable to you and the Company. You will be provided with a copy of the Sales Commission Plan applicable to you.

 

Equity Incentive Plan. Subject to approval by the Company’s Board of Directors (the “Board”), the Company anticipates granting you Restricted Stock Units (“RSUs”) that will approximate $2,150,000. The RSUs will be governed by the terms and conditions of the Company’s 2021 Equity Incentive Plan (the “Plan”) and will include a four year vesting schedule, under which 25% will vest 12 months after the vesting commencement date, and 3/48ths of the total shares will vest on the first day of the last month of each quarter thereafter, until either the RSUs are fully vested or your continuous service (as defined in the Plan) terminates, whichever occurs first with a one year cliff.

 

 

Benefits. During your employment, you will be eligible to enroll in the Company’s standard employee benefit plans, including health, dental, and vision plans, and other benefit programs as they are adopted by the Company, subject to plan terms and generally applicable Company policies. Currently, the Company provides the following insurance coverages: $450 per month for health insurance ($200 for dependents) and 80% of the monthly cost for vision and dental insurance (50% for dependents). We will provide you more information regarding these plans upon your request. The Company may change compensation and benefits from time to time in its discretion.

 

Exempt Salaried Employee. We believe in working efficiently and we strive to uphold normal business hours from 9:00 a.m. to 6:00 p.m., Monday through Friday. However, as an exempt salaried employee, you will be expected to work the Company’s normal business hours as well as additional hours as required by the nature of your work assignments, and you will not be eligible for overtime compensation.

 

At-Will Employment. It is our desire that our association be long-lasting and mutually rewarding. You should however understand that your employment with the Company is for no specified period and will be “at-will”. As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and with or without advance notice. Your employment at-will status can only be modified in a written agreement signed by you and by an officer of the Company. We request that, in the event of your resignation, you give the Company at least two (2) weeks’ notice.

 

Prior Agreements and Restrictions. By signing this letter, you represent that you have full authority to accept this position and perform the duties of the position without conflict with any other obligations and you specifically warrant that you are not a party to any agreement that in any way prohibits or imposes any restriction on your employment with the Company, and your acceptance of this offer will not breach any agreement to which you are a party. You further represent that you are not involved in any situation that might create, or appear to create, a conflict of interest with respect to your loyalty or duties to the Company. You will provide the Company with copies of any relevant employment-related agreements with any former employer, including any non-compete agreement that you may have with another company. We also wish to emphasize that we are hiring you because we believe that you have general skills and experience that will benefit the Company. We are not hiring you to acquire any proprietary or confidential information of your prior employers and ask that you not bring any such confidential information with you, including trade secrets. You agree that you will not bring onto Company premises, or upload onto any Company system, any unpublished documents, information or property belonging to any former employer or other person to whom you have an obligation of confidentiality. You hereby represent that you have disclosed to the Company any contract you have signed that may restrict your activities on behalf of the Company. You also agree to honor all obligations to former employers during your employment with the Company.

 

Outside Activities. You agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting, advisory roles or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company; provided, however, that the Company acknowledges and agrees that you are currently and will continue to be an advisory board member of Alvarez Larrea Equipos Medicos Alem CIA. LTDA. and SofMedica Group SRL.

 

 

Confidential Information and Company Policies. As a Company employee, you will be expected to abide by Company rules and policies. As a condition of employment, you must sign and comply with the attached Employee Confidential Information and Invention Assignment Agreement which prohibits unauthorized use or disclosure of the Company’s proprietary information, among other obligations. Upon your acceptance of this offer, please return to me a signed copy of this agreement.

Arbitration. To ensure the rapid and economical resolution of disputes that may arise in connection with your employment with the Company, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory claims, arising from or relating to the enforcement, breach, performance, or interpretation of this Agreement, your employment with the Company, or the termination of your employment, shall be resolved pursuant to the Federal Arbitration Act, 9 U.S.C. § 1-16, to the fullest extent permitted by law, by final, binding and confidential arbitration conducted by JAMS or its successor, under JAMS’ then applicable rules and procedures for employment disputes before a single arbitrator (available upon request and also currently available at http://www.jamsadr.com/rules- employment-arbitration/). You acknowledge that by agreeing to this arbitration procedure, both you and the Company waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding.

 

In addition, all claims, disputes, or causes of action under this section, whether by you or the Company, must be brought in an individual capacity, and shall not be brought as a plaintiff (or claimant) or class member in any purported class or representative proceeding, nor joined or consolidated with the claims of any other person or entity. The arbitrator may not consolidate the claims of more than one person or entity and may not preside over any form of representative or class proceeding. To the extent that the preceding sentences regarding class claims or proceedings are found to violate applicable law or are otherwise found unenforceable, any claim(s) alleged or brought on behalf of a class shall proceed in a court of law rather than by arbitration.

 

This section shall not apply to any action or claim that cannot be subject to mandatory arbitration as a matter of law, including, without limitation, claims brought pursuant to the California Private Attorneys General Act of 2004, as amended, the California Fair Employment and Housing Act, as amended, and the California Labor Code, as amended, to the extent such claims are not permitted by applicable law(s) to be submitted to mandatory arbitration and the applicable law(s) are not preempted by the Federal Arbitration Act or otherwise invalid (collectively, the “Excluded Claims”). In the event you intend to bring multiple claims, including one of the Excluded Claims listed above, the Excluded Claims may be filed with a court, while any other claims will remain subject to mandatory arbitration. You will have the right to be represented by legal counsel at any arbitration proceeding. Questions of whether a claim is subject to arbitration under this agreement shall be decided by the arbitrator. Likewise, procedural questions which grow out of the dispute and bear on the final disposition are also matters for the arbitrator.

 

 

 

 

The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written statement signed by the arbitrator regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential findings and conclusions on which the award is based. The arbitrator shall be authorized to award all relief that you or the Company would be entitled to seek in a court of law. The Company shall pay all JAMS arbitration fees in excess of the administrative fees that you would be required to pay if the dispute were decided in a court of law. Nothing in this letter agreement is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Any awards or orders in such arbitrations may be entered and enforced as judgments in the federal and state courts of any competent jurisdiction.

 

Background Check: Proof of Right to Work. This offer is contingent upon a satisfactory reference check and satisfactory proof of your right to work in the United States. If the Company informs you that you are required to complete a background check, this offer is contingent upon satisfactory clearance of such background check. You agree to assist as needed and to complete any documentation at the Company’s request to meet these conditions.

 

Acceptance of Offer; Entire Agreement. This letter, along with the Employee Confidential Information and Invention Assignment Agreement, sets forth the complete and exclusive terms of your employment with the Company and supersedes any prior representations or agreements made to you by anyone, whether written or oral. Changes in your employment terms, other than those changes expressly reserved to the Company’s discretion in this letter, require a written modification signed by an officer of the Company. If any provision of this offer letter agreement is determined to be invalid or unenforceable, in whole or in part, this determination shall not affect any other provision of this offer letter agreement and the provision in question shall be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible under applicable law. This letter may be delivered and executed via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, or other applicable law) or other transmission method and shall be deemed to have been duly and validly delivered and executed and be valid and effective for all purposes.

 

If you wish to accept the employment offer at under the terms described above, please sign and date this letter, along with the enclosed Employee Confidential Information and Inventions Assignment Agreement. This offer, if not accepted, will expire on May 11, 2021.

SIGNATURE PAGE FOLLOWS

 

 

 

 

I am delighted that you will be joining the Lucira Health team and I personally look forward to working together with you to build our company and improve healthcare around the world. If you have any questions, please do not hesitate to contact me.

 

	
	
Best regards,

	
 

	
 

	
/s/ Erik T. Engelson

	
Erik T. Engelson

	
Chief Executive Officer

	
Lucira Health, Inc.

 

UNDERSTOOD AND ACCEPTED:

I accept this employment offer. The provisions stated in this letter supersede all prior discussions and offer negotiations.

 

	
Signed:
	
 
	
/s/ Kevin Collins

	
Date:
	
 
	
May 10, 2021

	
Start Date:
	
 
	
May 27, 2021

 

 

 

 

 

 

EXHIBIT A 

RESPONSIBILITIES

The following summary is a partial list of the responsibilities associated with your job and is intended to illustrate initial job function. Due to the dynamic nature of the job, your duties and responsibilities may change over time.

 

SUMMARY:

 

As the Chief Revenue Officer, you are responsible for the company’s revenue streams and leveraging knowledge of the roles both sales and marketing play in driving growth. You have ultimate accountability in aligning all revenue-generating departments and building strategic partnerships. Your cross-functional expertise will ensure sales and marketing communicate well, share information, and collaborate in content creation so that all messaging fits our target customers.

PRIMARY RESPONSIBILITIES:

 

	
 
	
•
	
Partner with other members of the executive team to execute the current corporate strategic plan, and develop future plans

	
 
	
•
	
Ensure performance, strategy, and alignment of the organization’s revenue- generating departments

	
 
	
•
	
Manage a global sales team that can drive business growth across all customer segments and profiles, and share accountability with the marketing function for improving the individual customer experience and strategy

	
 
	
•
	
Help maximize reach and efficiency by adding new, scalable partners in a strategic way

	
 
	
•
	
Build and foster creative teams committed to continuing our culture of innovation

	
 
	
•
	
Monitor the revenue pipeline and leads, adjusting as necessary to create sustainable growth

YOU WILL REPORT TO: Erik T. Engelson, Chief Executive Officer.Exhibit 10.9

 

INDEPENDENT DIRECTOR AGREEMENT

 

INDEPENDENT DIRECTOR AGREEMENT,
dated [*], 2021 (this “Agreement”), by and between Guardforce AI Co., Limited,
an exempted company with limited liability incorporated under the laws of the Cayman Islands (the “Company”), and [
] (the “Director”).

 

RECITALS

 

A. The
Company has proposed to raise additional capital through an initial public offering (“IPO”) of the Company’s
ordinary shares and, in connection with the IPO, the Company proposes to file with the United States Securities and Exchange Commission
(the “SEC”) a registration statement on Form F-1 (the “Form F-1 Registration Statement”) relating
to the registration of the IPO shares under Section 5 of the Securities Act of 1933, as amended; and

 

B. The
Company desires to appoint the Director, subject to and upon effectiveness of the Form F-1 Registration Statement, to serve on the Company’s
board of directors (the “Board”) and the Director desires to accept such appointment to serve on the Board; and

 

C. The
Director may be appointed as a member of one or more committees of the Board; and

 

D. The
Director may also be appointed to serve as Chairman of one or more committees of the Board.

 

AGREEMENT

 

NOW THEREFORE, in consideration
of the foregoing and the Director’s services to the Company as a member of the Board, as a member of such Committees of the Board
to which he may be appointed from time to time and as Chairman of one or more committees to which he may be appointed in such capacity
from time to time, and intending to be legally bound hereby, the Company and the Director hereby agree as follows:

 

1. Appointment;
Duties.

 

(a) Appointment.
Subject to and upon effectiveness of the Form F-1 Registration Statement (the “Form F-1 Effective Date”), the Director shall
be appointed to serve as a member of the Board.

 

(b) General
Duties. The Company requires that the Director be available to perform the duties of an independent director customarily related to
this function as may be determined and assigned by the Board and as may be required by the Company’s constituent instruments, including
its Amended and Restated Memorandum of Association, Articles of Association, and its corporate governance and board committee charters,
each as amended or modified from time to time, and by applicable law, including the Companies Act (2020 Revision) of the Cayman Islands.
The Director agrees to devote as much time as is necessary to perform completely the duties as a Director of the Company, including duties
as a member of one or more committees of the Board, to which the Director may hereafter be appointed. The Director will perform such duties
described herein in accordance with the general fiduciary duty of directors.

 

(c) Conflicts
of Int0erest. In the event that the Director has a direct or indirect financial or personal interest in a contract or transaction to
which the Company is a party, or the Director is contemplating entering into a transaction that involves use of corporate assets or competition
against the Company, the Director shall promptly disclose such potential conflict to the Board and proceed as directed by the Board.

 

(d) Corporate
Opportunities. Whenever the Director becomes aware of a business opportunity, related to the Company’s business, which one could
reasonably expect the Director to make available to the Company, the Director shall promptly disclose such opportunity to the applicable
Board committee and proceed as directed by such committee or the Board, as applicable.

 

2. Term.
The term of this Agreement shall commence as of the Form F-1 Effective Date (the “Effective Date”), which shall be
the date of the Director’s appointment by the board of directors of the Company, and shall continue until the Director’s removal
or resignation.

 

     

     

    

 

3. Compensation.

 

(a) Cash
Compensation. Following the commencement of the term of this Agreement, for all services to be rendered by the Director in any capacity
hereunder, the Company agrees to compensate the Director a fee of $[ ] per year in cash (the “Annual Fee”), which Annual
Fee shall be paid to the Director in four equal installments no later than the fifth business day of each calendar quarter commencing
in the first quarter following the Effective Date. The Director shall be responsible for his or her own individual income tax payment
on the Annual Fee in jurisdictions where the Director resides.

 

(b) Equity
Compensation. Upon execution of this agreement, the Director shall be entitled to receive an initial stock option (the “Initial
Award”) to purchase [ ] of the Company’s ordinary shares. The per share exercise price of each option granted to the Director
shall equal 100% of the fair market value (as defined by the Board) of an ordinary share on the date the option is granted. The Initial
Award shall vest and become exercisable in twelve (12) equal monthly installments over the first year following the date of grant, subject
to the Director continuing in service on the Board through each such vesting date. The term of each stock option granted to the Director
shall be ten (10) years from the date of grant.

 

In the event that the Director
serves less than a full year on the Board, the Company shall only be obligated to pay the pro rata portion of such Annual Fee to the Director
for his services performed during such year. Furthermore, the vesting of the Option shall not accelerate in the event the Director serves
less than a full year on the Board.

 

4. Independence.
The Director acknowledges that his appointment hereunder is contingent upon the Board’s determination that he is “independent”
with respect to the Company, in accordance with the listing requirements of the New York Stock Exchange, and that his appointment may
be terminated by the Company in the event that the Director does not maintain such independence standard.

 

5. Expenses.
The Company shall reimburse the Director for pre-approved reasonable business related expenses incurred in good faith in connection with
the performance of the Director’s duties for the Company. Such reimbursement shall be made by the Company upon submission by the
Director of a signed statement itemizing the expenses incurred, which shall be accompanied by sufficient documentation to support the
expenditures.

 

6. Other
Agreements.

 

(a) Confidential
Information and Insider Trading. The Company and the Director each acknowledge that, in order for the intentions and purposes of this
Agreement to be accomplished, the Director shall necessarily be obtaining access to certain confidential information concerning the Company
and its affairs, including, but not limited to, business methods, information systems, financial data and strategic plans which are unique
assets of the Company (as further defined below, the “Confidential Information”) and that the communication of such
Confidential Information to third parties could irreparably injure the Company and its business. Accordingly, the Director agrees that,
during his association with the Company and thereafter, he will treat and safeguard as confidential and secret all Confidential Information
received by him at any time and that, without the prior written consent of the Company, he will not disclose or reveal any of the Confidential
Information to any third party whatsoever or use the same in any manner except in connection with the business of the Company and in any
event in no way harmful to or competitive with the Company or its business. For purposes of this Agreement, “Confidential Information”
includes any information not generally known to the public or recognized as confidential according to standard industry practice, any
trade secrets, know-how, development, manufacturing, marketing and distribution plans and information, inventions, formulas, methods or
processes, whether or not patented or patentable, pricing policies and records of the Company (and such other information normally understood
to be confidential or otherwise designated as such in writing by the Company), all of which the Director expressly acknowledges and agrees
shall be confidential and proprietary information belonging to the Company. Upon termination of his association with the Company, the
Director shall return to the Company all documents and papers relating to the Company, including any Confidential Information, together
with any copies thereof, or certify that he or she has destroyed all such documents and papers. Furthermore, the Director recognizes that
the Company has received and in the future will receive confidential or proprietary information from third parties subject to a duty on
the Company’s part to maintain the confidentiality of such information and, in some cases, to use it only for certain limited purposes.
The Director agrees that the Director owes the Company and such third parties, both during the term of the Director’s association
with the Company and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and not to,
except as is consistent with the Company’s agreement with the third party, disclose it to any person or entity or use it for the
benefit of anyone other than the Company or such third party, unless expressly authorized to act otherwise by an officer of the Company.
In addition, the Director acknowledges and agrees that the Director may have access to “material non-public information” for
purposes of the federal securities laws (“Insider Information”) and that the Director will abide by all securities
laws relating to the handling of and acting upon such Insider Information.

 

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(b) Disparaging
Statements. At all times during and after the period in which the Director is a member of the Board and at all times thereafter, the
Director shall not either verbally, in writing, electronically or otherwise: (i) make any derogatory or disparaging statements about the
Company, any of its affiliates, any of their respective officers, directors, shareholders, employees and agents, or any of the Company’s
current or past customers or employees, or (ii) make any public statement or perform or do any other act prejudicial or injurious to the
reputation or goodwill of the Company or any of its affiliates or otherwise interfere with the business of the Company or any of its affiliates;
provided, however, that nothing in this paragraph shall preclude the Director from complying with all obligations imposed by law or legal
compulsion, and provided, further, however, that nothing in this paragraph shall be deemed applicable to any testimony given by the Director
in any legal or administrative proceedings.

 

(c) Enforcement.
The Director acknowledges and agrees that the covenants contained herein are reasonable, that valid consideration has been and will be
received and that the agreements set forth herein are the result of arms-length negotiations between the parties hereto. The Director
recognizes that the provisions of this Section 6 are vitally important to the continuing welfare of the Company and its affiliates and
that any violation of this Section 6 could result in irreparable harm to the Company and its affiliates for which money damages would
constitute a totally inadequate remedy. Accordingly, in the event of any such violation by the Director, the Company and its affiliates,
in addition to any other remedies they may have, shall have the right to institute and maintain a proceeding to compel specific performance
thereof or to obtain an injunction or other equitable relief restraining any action by the Director in violation of this Section 6 without
posting any bond therefore or demonstrating actual damages, and the Director will not claim as a defense thereto that the Company has
an adequate remedy at law or require the posting of a bond. If any of the restrictions or activities contained in this Section 6 shall
for any reason be held by a court of competent jurisdiction to be excessively broad as to duration, geographical scope, activity or subject,
such restrictions shall be construed so as thereafter to be limited or reduced to be enforceable to the extent compatible with the applicable
law; it being understood that by the execution of this Agreement the parties hereto regard such restrictions as reasonable and compatible
with their respective rights. The Director acknowledges that injunctive relief may be granted immediately upon the commencement of any
such action without notice to the Director and in addition Company may recover monetary damages.

 

(d) Separate
Agreement. The parties hereto further agree that the provisions of Section 6 are separate from and independent of the remainder of
this Agreement and that Section 6 is specifically enforceable by the Company notwithstanding any claim made by the Director against the
Company. The terms of this Section 6 shall survive termination of this Agreement.

 

7. Market
Stand-Off Agreement. In the event of a public or private offering of the Company’s securities and upon request of
the Company, the underwriters or placement agents placing the offering of the Company’s securities, the Director agrees not to sell,
make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any securities of the Company Director may
own, other than those included in the registration, without the prior written consent of the Company or such underwriters, as the case
may be, for such period of time from the effective date of such registration as may be requested by the Company or such placement agent
or underwriter.

 

8. Termination.
With or without cause, the Company and the Director may each terminate this Agreement at any time upon ten (10) days written notice, and
the Company shall be obligated to pay to the Director the compensation and expenses due up to the date of the termination. Nothing contained
herein or omitted herefrom shall prevent the shareholder(s) of the Company from removing the Director with immediate effect at any time
for any reason.

 

9. Indemnification.
The Company shall indemnify, defend and hold harmless the Director, to the full extent allowed by the law of the Cayman Islands, and as
provided by, or granted pursuant to, the memorandum and articles of association of the Company, agreement (including, without limitation,
the Indemnification Agreement executed herewith), vote of shareholders or disinterested directors or otherwise, both as to action in the
Director’s official capacity and as to action in another capacity while holding such office. The Company and the Director are executing
an indemnification agreement in the form attached hereto as Exhibit A.

 

10. Effect
Of Waiver. The waiver by either party of the breach of any provision of this Agreement shall not operate as or be construed
as a waiver of any subsequent breach thereof.

 

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11. Notice.
Any and all notices referred to herein shall be sufficient if furnished in writing at the addresses specified on the signature page hereto
or, if to the Company, to the Company’s address as specified in filings made by the Company with the U.S. Securities and Exchange
Commission.

 

12. Governing
Law. This Agreement shall be interpreted in accordance with, and the rights of the parties hereto shall be determined by,
the laws of the Cayman Islands without reference to the Cayman Islands’ conflicts of laws principles.

 

13. Assignment.
The rights and benefits of the Company under this Agreement shall be transferable, and all the covenants and agreements hereunder shall
inure to the benefit of, and be enforceable by or against, its successors and assigns. The duties and obligations of the Director under
this Agreement are personal and therefore the Director may not assign any right or duty under this Agreement without the prior written
consent of the Company.

 

14. Miscellaneous.
If any provision of this Agreement shall be declared invalid or illegal, for any reason whatsoever, then, notwithstanding such invalidity
or illegality, the remaining terms and provisions of this Agreement shall remain in full force and effect in the same manner as if the
invalid or illegal provision had not been contained herein. The article headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same instrument.
Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the Electronic
Transactions Act (2003) of the Cayman Islands, as amended from time to time, (other than Section 8 and Section 19 , which shall not apply
to this Agreement to the extent it imposes obligations or requirements in addition to those set out in this Agreement)) or other transmission
method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
Except as provided elsewhere herein, this Agreement sets forth the entire agreement of the parties with respect to its subject matter
and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or
written, by any officer, employee or representative of any party to this Agreement with respect to such subject matter.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties
hereto have caused this Independent Director Agreement to be duly executed and signed as of the day and year first above written.

 

	GUARDFORCE AI CO., LIMITED  	 	DIRECTOR  
	 	 	 
	By:	 	 	By: 	             
	Name: 	Lei Wang	 	Name: 	 
	Title:	Chief Executive Officer	 	 

 

     

     

    

 

EXHIBIT A

 

Indemnity Agreement

(See Attached)

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