Document:

Exhibit
10.3

 

NON-COMPETITION
AND NON-SOLICITATION AGREEMENT

 

THIS
NON-COMPETITION AND NON-SOLICITATION AGREEMENT (this “Agreement”) is being executed and delivered as of December 9, 2021
by Honghu Li, Songhua Ouyang and Shun Liu (“Sellers”), and Honghu Li serving as director, officer, manager
or employee of the Company (as defined below) or any of its Subsidiaries (“Managers” and, together with Sellers,
the “Subject Parties”), in favor of and for the benefit of Planet Green Holdings Corporation, a
corporation incorporated in the State of Nevada (“Parent”), Shandong Yunchu Supply Chain Co., Ltd., a limited
liability incorporated in China (the “Company”), and each of Parent’s, and/or the Company’s respective
present and future Affiliates, successors and direct and indirect Subsidiaries (collectively, the “Covered Parties”).
Any capitalized term used, but not defined in this Agreement will have the meaning ascribed to such term in the Share Exchange Agreement.

 

WHEREAS,
on December 9, 2021, Parent, the Company and Sellers entered into that certain Share Exchange Agreement (as amended from time to time
in accordance with the terms thereof, the “Share Exchange Agreement”), by and among Parent, the Company and
Sellers, pursuant to which, subject to the terms and conditions thereof, Purchaser will acquire from Sellers 100% of the issued and outstanding
shares and other equity interests of the Company in exchange for 5,900,000 Parent Shares;

 

WHEREAS,
the Company is a regional leading beef products importer and distributor in China (the “Business”);

 

WHEREAS,
in connection with, and as a condition to the consummation of the transactions contemplated by the Share Exchange Agreement (the “Transactions”),
and to enable Parent to secure more fully the benefits of the Transactions, including the protection and maintenance of the goodwill
and confidential information of the Company and its Subsidiaries, and Parent have required that the Subject Parties enter into this Agreement;

 

WHEREAS,
the Subject Parties are entering into this Agreement in order to induce Parent to consummate the Transactions, pursuant to which each
Subject Party will directly or indirectly receive a material benefit; and

 

WHEREAS,
Sellers, as former owners of the Company, and Managers, as director, officer or employee of the Company or its Subsidiaries, have contributed
to the value of the Company and have obtained extensive and valuable knowledge and confidential information concerning the business of
the Company and its Subsidiaries.

 

NOW,
THEREFORE, in order to induce Parent to consummate the Transactions, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, each Subject Party hereby agrees as follows:

 

1.
Restriction on Competition.

 

(a)
Restriction. Each Subject Party hereby agrees that during the period from the Closing until the later of (i) the four (4) year
anniversary of the Closing Date and (ii) the date on which the Subject Parties, their respective Affiliates or any of their respective
officers, directors or employees are no longer directors, officers, managers or employees of the Company or any of its Subsidiaries (the
later of such date in this clause (ii) or the Closing Date, the “Termination Date”, and such period from the
Closing until the later of clauses (i) and (ii), the “Restricted Period”), such Subject Party will not, and
will cause its Affiliates not to, without the prior written consent of Parent (which may be withheld in its sole discretion), anywhere
in North America and/or the Peoples’ Republic of China (the “Territory”), directly or indirectly engage
in the Business (other than through a Covered Party) or own, manage, finance or control, or participate in the ownership, management,
financing or control of, or become engaged or serve as an officer, director, member, partner, employee, agent, consultant, advisor or
representative of, a business or entity (other than a Covered Party) that engages in the Business (a “Competitor”).
Notwithstanding the foregoing, (i) the Subject Parties and their respective Affiliates may own passive portfolio company investments
in a Competitor, so long as the Subject Parties and their Affiliates and their respective shareholders, directors, officer, managers
and employees who were involved with the business of the Company and its Subsidiaries are not involved in the management or control of
such Competitor (“Permitted Ownership”), and (ii) for the avoidance of doubt, certain family members and associates
of the Subject Parties as set forth on Exhibit 1 hereto may continue to manage the businesses set forth next to their
respective names on Exhibit 1 hereto consistent with past practice prior to the date hereof, even if such businesses
are Competitors, so long as the Subject Parties are not involved in the management or control of such Competitors.

 

     

     

    

 

(b)
Acknowledgment. Each Subject Party acknowledges and agrees, based upon the advice of legal counsel and/or such Subject Party’s
own education, experience and training, that (i) such Subject Party possesses knowledge of confidential information of the Company and
its Subsidiaries and the Business, (ii) such Subject Party’s execution of this Agreement is a material inducement to Parent to
consummate the Transactions and to realize the goodwill of the Company and its Subsidiaries, for which such Subject Party will receive
a substantial direct or indirect financial benefit, and that Parent would not have entered into the Share Exchange Agreement or consummated
the Transactions but for the Subject Parties’ agreements set forth in this Agreement, (iii) it would impair the goodwill of the
Company and its Subsidiaries and reduce the value of the assets of the Company and its Subsidiaries and cause serious and irreparable
injury if such Subject Party were to use its ability and knowledge by engaging in the Business in competition with a Covered Party, and/or
to otherwise breach the obligations contained herein and that the Covered Parties would not have an adequate remedy at law because of
the unique nature of the Business, (iv) such Subject Party has no intention of engaging in the Business during the Restricted Period
other than Permitted Ownership, (v) the relevant public policy aspects of restrictive covenants, covenants not to compete and non-solicitation
provisions have been discussed, and every effort has been made to limit the restrictions placed upon such Subject Party to those that
are reasonable and necessary to protect the Covered Parties’ legitimate interests, (vi) the Covered Parties conduct and intend
to conduct the Business everywhere in the Territory and compete with other businesses that are or could be located in any part of the
Territory, (vii) the foregoing restrictions on competition are fair and reasonable in type of prohibited activity, geographic area covered,
scope and duration, (viii) the consideration provided to such Subject Party under this Agreement and the Share Exchange Agreement is
not illusory, and (ix) such provisions do not impose a greater restraint than is necessary to protect the goodwill or other business
interests of the Covered Parties.

 

2.
No Solicitation; No Disparagement.

 

(a) No
Solicitation of Employees and Consultants. Each Subject Party agrees that, during the Restricted Period, such Subject Party will
not, without the prior written consent of Parent (which may be withheld in its sole discretion), either on its own behalf or on
behalf of any other Person (other than, if applicable, a Covered Party in the performance of such Subject Party’s duties on
behalf of the Covered Parties), directly or indirectly: (i) hire or engage as an employee, independent contractor, consultant or
otherwise any Covered Personnel (as defined below); (ii) solicit, induce, encourage or otherwise cause (or attempt to do any of the
foregoing) any Covered Personnel to leave the service (whether as an employee, consultant or independent contractor) of any Covered
Party; or (iii) in any way interfere with or attempt to interfere with the relationship between any Covered Personnel and any
Covered Party; provided, however, no Subject Party will be deemed to have violated this Section
2(a) if any Covered Personnel voluntarily and independently solicits an offer of employment from such Subject Party (or
other Person whom such Subject Party is acting on behalf of) by responding to a general advertisement or solicitation program
conducted by or on behalf of such Subject Party (or such other Person whom such Subject Party is acting on behalf of) that is not
targeted at such Covered Personnel or Covered Personnel generally, so long as such Covered Personnel is not hired. For purposes of
this Agreement, “Covered Personnel” shall mean any Person who is or was an employee, consultant or
independent contractor of the Covered Parties, (A) if the relevant time of determination is before the Termination Date, as of such
date of determination or during the one (1) year period preceding such date and, (B) if the relevant time of determination is after
the Termination Date, as of the Termination Date or during the one (1) year period preceding the Termination Date.

 

(b) Non-Solicitation
of Customers and Suppliers. Each Subject Party agrees that, during the Restricted Period, such Subject Party will not, without
the prior written consent of Parent (which may be withheld in its sole discretion), individually or on behalf of any other Person
(other than, if applicable, a Covered Party in the performance of such Subject Party’s duties on behalf of the Covered
Parties), directly or indirectly: (i) solicit, induce, encourage or otherwise cause (or attempt to do any of the foregoing) any
Covered Customer (as defined below) to (A) cease being, or not become, a client or customer of any Covered Party with respect to the
Business or (B) reduce the amount of business of such Covered Customer with any Covered Party, or otherwise alter such business
relationship in a manner adverse to any Covered Party, in either case, with respect to or relating to the Business; (ii) interfere
with or disrupt (or attempt to interfere with or disrupt) the contractual relationship between any Covered Party and any Covered
Customer; (iii) divert any business with any Covered Customer relating to the Business from a Covered Party; (iv) solicit for
business, provide services to, engage in or do business with, any Covered Customer for products or services that are part of the
Business; or (v) interfere with or disrupt (or attempt to interfere with or disrupt), any Person that was a vendor, supplier,
distributor, agent or other service provider of a Covered Party at the time of such interference or disruption, for a purpose
competitive with a Covered Party as it relates to the Business. For purposes of this Agreement, a “Covered
Customer” shall mean any Person who is or was an actual customer or client (or prospective customer or client with
whom a Covered Party actively marketed or made or taken specific action to make a proposal) of a Covered Party, (A) if the relevant
time of determination is before the Termination Date, as of such date of determination or during the one (1) year period preceding
such date and, (B) if the relevant time of determination is after the Termination Date, as of the Termination Date or during the one
(1) year period preceding the Termination Date.

 

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(c) Non-Disparagement.
Each Subject Party agrees that from and after the Closing Date such Subject Party will not directly or indirectly engage in any
conduct that involves the making or publishing (including through electronic mail distribution or online social media) of any
written or oral statements or remarks (including the repetition or distribution of derogatory rumors, allegations, negative reports
or comments) that are disparaging, deleterious or damaging to the integrity, reputation or good will of one or more Covered Parties
or their respective management, officers, employees, independent contractors or consultants. Notwithstanding the foregoing, subject
to Section 3 below, the provisions of this Section 2(c) shall not restrict any Subject Party from
providing truthful testimony or information in response to a subpoena or investigation by a Governmental Authority or in connection
with any legal action by such Subject Party against any Covered Party under this Agreement, the Share Exchange Agreement or any
other Ancillary Document that is asserted by such Subject Party in good faith.

 

3.
Confidentiality. From and after the Closing Date, each Subject Party will, and will cause its Representatives to, keep
confidential and not (except, if applicable, in the performance of such Subject Party’s duties on behalf of the Covered
Parties) directly or indirectly use, disclose, reveal, publish, transfer or provide access to, any and all Covered Party Information
without the prior written consent of both Parent and Purchaser (which may be withheld in its sole discretion). As used in this
Agreement, “Covered Party Information” means all material and information relating to the business,
affairs and assets of any Covered Party, including material and information that concerns or relates to such Covered Party’s
bidding and proposal, technical, computer hardware or software, administrative, management, operational, data processing, financial,
marketing, sales, human resources, business development, planning and/or other business activities, regardless of whether such
material and information is maintained in physical, electronic, or other form, that is: (A) gathered, compiled, generated, produced
or maintained by such Covered Party through its Representatives, or provided to such Covered Party by its suppliers, service
providers or customers; and (B) intended and maintained by such Covered Party or its Representatives, suppliers, service providers
or customers to be kept in confidence. The obligations set forth in this Section 3 will not apply to any Covered
Party Information where a Subject Party can prove that such material or information: (i) is known or available through other lawful
sources not bound by a confidentiality agreement with, or other confidentiality obligation to, any Covered Party; (ii) is or becomes
publicly known through no violation of this Agreement or other non-disclosure obligation of such Subject Party or any of its
Representatives; (iii) is already in the possession of such Subject Party at the time of disclosure through lawful sources not bound
by a confidentiality agreement or other confidentiality obligation as evidenced by the Subject Party’s documents and records;
or (iv) is required to be disclosed pursuant to an order of any administrative body or court of competent jurisdiction (provided
that (A) the applicable Covered Party is given reasonable prior written notice, (B) such Subject Party cooperates (and causes its
Representatives to cooperate) with any reasonable request of any Covered Party to seek to prevent or narrow such disclosure and (C)
if after compliance with clauses (A) and (B) such disclosure is still required, such Subject Party and its Representatives only
disclose such portion of the Covered Party Information that is expressly required by such order, as it may be subsequently
narrowed).

 

4.
Representations and Warranties. Each Subject Party hereby represents and warrants, to and for the benefit of the Covered
Parties as of the date of this Agreement and as of the Closing Date, that: (a) such Subject Party has full power and capacity to
execute and deliver, and to perform all of such Subject Party’s obligations under, this Agreement; and (b) neither the
execution and delivery of this Agreement nor the performance of such Subject Party’s obligations hereunder will result
directly or indirectly in a violation or breach of any agreement or obligation by which such Subject Party is a party or otherwise
bound. By entering into this Agreement, each Subject Party certifies and acknowledges that such Subject Party has carefully read all
of the provisions of this Agreement, and that such Subject Party voluntarily and knowingly enters into this Agreement.

 

    3

     

    

 

5.
Remedies. The covenants and undertakings of the Subject Parties contained in this Agreement relate to matters which are of
a special, unique and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury to
the Covered Parties, the amount of which may be impossible to estimate or determine and which cannot be adequately compensated. Each
Subject Party agrees that, in the event of any breach or threatened breach by such Subject Party of any covenant or obligation
contained in this Agreement, each applicable Covered Party will be entitled to obtain the following remedies (in addition to, and
not in lieu of, any other remedy at law or in equity or pursuant to the Share Exchange Agreement or the other Ancillary Documents
that may be available to the Covered Parties, including monetary damages), and a court of competent jurisdiction may award: (i) an
injunction, restraining order or other equitable relief restraining or preventing such breach or threatened breach, without the
necessity of proving actual damages or posting bond or security, which each Subject Party expressly waives; and (ii) recovery of the
Covered Party’s attorneys’ fees and costs incurred in enforcing the Covered Party’s rights under this Agreement.
If sought and obtained in accordance with this Agreement, each Subject Party hereby consents to the award of any of the above
remedies to the applicable Covered Party in connection with any such breach or threatened breach. Each Subject Party hereby
acknowledges and agrees that in the event of any breach of this Agreement, any value attributed or allocated to this Agreement (or
any other non-competition agreement with such Subject Party) under or in connection with the Share Exchange Agreement shall not be
considered a measure of, or a limit on, the damages of the Covered Parties.

 

6.
Survival of Obligations. The expiration of the Restricted Period will not relieve any Subject Party of any obligation or
liability arising from any breach by such Subject Party of this Agreement during the Restricted Period. Each Subject Party further
agrees that the time period during which the covenants contained in Section 1 and Section 2 of
this Agreement will be effective will be computed by excluding from such computation any time during which such Subject Party is in
violation of any provision of such Sections, provided the Company has delivered to the Subject Party notice of any
such exclusion prior to the date on which such time period would otherwise expire.

 

7.
Miscellaneous.

 

(a) Notices.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) one
Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business Days
after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable
party at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	If
    to Parent (or any other Covered Party), to:

     

    Planet
    Green Holdings Corporation

    36-10
    Union St. 2nd Floor

    Flushing
    NY 11354

    Telephone
    No.: (718) 799 0380

     
	with
    a copy (that will not constitute notice) to:

     

    Becker
    & Poliakoff LLP

    45
    Broadway, 17th Floor

    New
    York, New York 10006

    Attention:
Bill Huo

                      Brian Daughney

    Telephone
    No.: (212) 599 3322

    Email:
bhuo@beckerlawyers.com

                bdaughney@beckerlawyers.com

	If
    to a Subject Party, to:

    the address below such Subject Party’s name on the signature page to this Agreement.

 

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(b) Integration
and Non-Exclusivity. This Agreement, the Share Exchange Agreement and the other Ancillary Documents contain the entire agreement
between the Subject Parties and the Covered Parties concerning the subject matter hereof. Notwithstanding the foregoing, the rights
and remedies of the Covered Parties under this Agreement are not exclusive of or limited by any other rights or remedies which they
may have, whether at law, in equity, by contract or otherwise, all of which will be cumulative (and not alternative). Without
limiting the generality of the foregoing, the rights and remedies of the Covered Parties, and the obligations and liabilities of
each Subject Party, under this Agreement, are in addition to their respective rights, remedies, obligations and liabilities (i)
under the laws of unfair competition, misappropriation of trade secrets, or other requirements of statutory or common law, or any
applicable rules and regulations and (ii) otherwise conferred by contract, including the Share Exchange Agreement and any other
written agreement between a Subject Party and any of the Covered Parties. Nothing in the Share Exchange Agreement will limit any of
the obligations, liabilities, rights or remedies of the Subject Parties or the Covered Parties under this Agreement, nor will any
breach of the Share Exchange Agreement or any other agreement between any Subject Party and any of the Covered Parties limit or
otherwise affect any right or remedy of the Covered Parties under this Agreement. If any term or condition of any other agreement
between any Subject Party and any of the Covered Parties conflicts or is inconsistent with the terms and conditions of this
Agreement, the more restrictive terms will control as to such Subject Party.

 

(c) Severability;
Reformation. Each provision of this Agreement is separable from every other provision of this Agreement. If any provision of
this Agreement is found or held to be invalid, illegal or unenforceable, in whole or in part, by a court of competent jurisdiction,
then (i) such provision will be deemed amended to conform to applicable laws so as to be valid, legal and enforceable to the fullest
possible extent, (ii) the invalidity, illegality or unenforceability of such provision will not affect the validity, legality or
enforceability of such provision under any other circumstances or in any other jurisdiction, and (iii) the invalidity, illegality or
unenforceability of such provision will not affect the validity, legality or enforceability of the remainder of such provision or
the validity, legality or enforceability of any other provision of this Agreement. The Subject Parties and the Covered Parties will
substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be
valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision. Without limiting the
foregoing, if any court of competent jurisdiction determines that any part hereof is unenforceable because of the duration,
geographic area covered, scope of such provision, or otherwise, such court will have the power to reduce the duration, geographic
area covered or scope of such provision, as the case may be, and, in its reduced form, such provision will then be enforceable. Each
Subject Party will, at a Covered Party’s request, join such Covered Party in requesting that such court take such
action.

 

(d) Amendment;
Waiver. This Agreement may not be amended or modified in any respect, except by a written agreement executed by the Subject
Parties, Parent, Purchaser and the Company (or their respective permitted successors or assigns). No waiver will be effective unless
it is expressly set forth in a written instrument executed by the waiving party and any such waiver will have no effect except in
the specific instance in which it is given. Any delay or omission by a party in exercising its rights under this Agreement, or
failure to insist upon strict compliance with any term, covenant, or condition of this Agreement will not be deemed a waiver of such
term, covenant, condition or right, nor will any waiver or relinquishment of any right or power under this Agreement at any time or
times be deemed a waiver or relinquishment of such right or power at any other time or times.

 

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(e) Dispute
Resolution. Any dispute, difference, controversy or claim arising in connection with or related or incidental to, or question
occurring under, this Agreement or the subject matter hereof (other than applications for a temporary restraining order, preliminary
injunction, permanent injunction or other equitable relief or application for enforcement of a resolution under this Section
7(e)) (a “Dispute”) shall be governed by this Section 7(e). A party must, in the first
instance, provide written notice of any Disputes to the other parties subject to such Dispute, which notice must provide a
reasonably detailed description of the matters subject to the Dispute. Any Dispute that is not resolved may at any time after the
delivery of such notice immediately be referred to and finally resolved by arbitration pursuant to the then-existing Expedited
Procedures of the Commercial Arbitration Rules (the “AAA Procedures”) of the American Arbitration
Association (the “AAA”). Any party involved in such Dispute may submit the Dispute to the AAA to commence
the proceedings after the Resolution Period. To the extent that the AAA Procedures and this Agreement are in conflict, the terms of
this Agreement shall control. The arbitration shall be conducted by one arbitrator nominated by the AAA promptly (but in any event
within five (5) Business Days) after the submission of the Dispute to the AAA and reasonably acceptable to each party subject to the
Dispute, which arbitrator shall be a commercial lawyer with substantial experience arbitrating disputes under acquisition
agreements. The arbitrator shall accept his or her appointment and begin the arbitration process promptly (but in any event within
five (5) Business Days) after his or her nomination and acceptance by the parties subject to the Dispute. The proceedings shall be
streamlined and efficient. The arbitrator shall decide the Dispute in accordance with the substantive law of the State of New York.
Time is of the essence. Each party shall submit a proposal for resolution of the Dispute to the arbitrator within twenty (20) days
after confirmation of the appointment of the arbitrator. The arbitrator shall have the power to order any party to do, or to refrain
from doing, anything consistent with this Agreement, the Ancillary Documents and applicable Law, including to perform its
contractual obligation(s); provided, that the arbitrator shall be limited to ordering pursuant to the foregoing power
(and, for the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to comply with only one or the other
of the proposals. The arbitrator’s award shall be in writing and shall include a reasonable explanation of the arbitrator’s
reason(s) for selecting one or the other proposal. The seat of arbitration shall be in New York County, State of New York. The
language of the arbitration shall be English.

 

(f) Governing
Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the Laws of the State of New
York without regard to the conflict of laws principles thereof. Subject to Section 7(e), all Actions arising out of or
relating to this Agreement shall be heard and determined exclusively in any state or federal court located in New York, New York (or
in any court in which appeal from such courts may be taken) (the “Specified Courts”). Subject
to Section 7(e), each party hereto hereby (a) submits to the exclusive jurisdiction of any Specified Court for the
purpose of any Action arising out of or relating to this Agreement brought by any party hereto, (b) irrevocably waives, and agrees
not to assert by way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the
jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action is
brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated
hereby may not be enforced in or by any Specified Court and (c) waives any bond, surety or other security that might be required of
any other party with respect thereto. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced
in other jurisdictions by suit on the judgment or in any other manner provided by Law or in equity. Each party irrevocably consents
to the service of the summons and complaint and any other process in any other action or proceeding relating to the transactions
contemplated by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party
at the applicable address set forth in Section 7(a). Nothing in this Section 7(f) shall affect the
right of any party to serve legal process in any other manner permitted by Law.

 

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(g)
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (B) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 7(g). ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 7(g) WITH
ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

 

(h) Successors
and Assigns; Third Party Beneficiaries. This Agreement will be binding upon each Subject Party and each Subject Party’s
estate, successors and assigns, and will inure to the benefit of the Covered Parties, and their respective successors and assigns.
Each Covered Party may freely assign any or all of its rights under this Agreement, at any time, in whole or in part, to any Person
which acquires, in one or more transactions, at least a majority of the equity securities (whether by equity sale, merger or
otherwise) of such Covered Party or all or substantially all of the assets of such Covered Party and its Subsidiaries, taken as a
whole, without obtaining the consent or approval of either Subject Party. Each Subject Party agrees that the obligations of such
Subject Party under this Agreement are personal and will not be assigned by such Subject Party. Each of the Covered Parties are
express third party beneficiaries of this Agreement and will be considered parties under and for purposes of this
Agreement.

 

(i) Construction.
Each Subject Party acknowledges that such Subject Party has been represented by counsel, or had the opportunity to be represented by
counsel of such Subject Party’s choice. Any rule of construction to the effect that ambiguities are to be resolved against the
drafting party will not be applied in the construction or interpretation of this Agreement. Neither the drafting history nor the
negotiating history of this Agreement will be used or referred to in connection with the construction or interpretation of this
Agreement. The headings and subheadings contained in this Agreement are for reference purposes only and shall not affect in any way
the meaning or interpretation of this Agreement. In this Agreement: (i) the words “include,” “includes” and
“including” when used herein shall be deemed in each case to be followed by the words “without limitation”;
(ii) the definitions contained herein are applicable to the singular as well as the plural forms of such terms; (iii) whenever
required by the context, any pronoun shall include the corresponding masculine, feminine or neuter forms, and the singular form of
nouns, pronouns and verbs shall include the plural and vice versa; (iv) the words “herein,” “hereto,” and
“hereby” and other words of similar import shall be deemed in each case to refer to this Agreement as a whole and not to
any particular Section or other subdivision of this Agreement; (v) the word “if” and other words of similar import when
used herein shall be deemed in each case to be followed by the phrase “and only if”; (vi) the term “or”
means “and/or”; and (vii) any agreement or instrument defined or referred to herein or in any agreement or instrument
that is referred to herein means such agreement or instrument as from time to time amended, modified or supplemented, including by
waiver or consent and references to all attachments thereto and instruments incorporated therein.

 

(j) Counterparts.
This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which
when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. A photocopy,
faxed, scanned and/or emailed copy of this Agreement or any signature page to this Agreement, shall have the same validity and enforceability
as an originally signed copy.

 

(k) Effectiveness.
This Agreement shall be binding upon each Subject Party upon such Subject Party’s execution and delivery of this Agreement, but
this Agreement shall only become effective upon the consummation of the Transactions. In the event that the Share Exchange Agreement
is validly terminated in accordance with its terms prior to the consummation of the Transactions, this Agreement shall automatically
terminate and become null and void, and the parties shall have no obligations hereunder.

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

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IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Non-Competition and Non-Solicitation Agreement as of the date first
written above.

 

	 	Sellers:	 
	 	 	Honghu Li 
	 	 	 
	 	 	 
	 	 	 
	 	Address for Notice:	 
	 	 	 
	 	Address: 	
    No. 1209-011, Unit A, Floor 1, Building 2, Yihe Third Road, Comprehensive
    Free Trade Zone,

    Linyi City, Shandong Province, China

	 	Telephone No.:	(86) 151-5394-0010
	 	
     

     
	
     

    Songhua Ouyang 

	 	 	 
	 	 	 
	 	 	 
	 	
    Address for Notice:

     
	 
	 	Address: 	
    No. 1209-011, Unit A, Floor 1, Building 2, Yihe Third Road, Comprehensive
    Free Trade Zone,

    Linyi City, Shandong Province, China

	 	Telephone No.:	(86) 151-5394-0010
	 	
     

     
	
     

    Shun Liu

	 	 	 
	 	 	 
	 	 	 
	 	
    Address for Notice:

     
	 
	 	Address: 	
    No. 1209-011, Unit A, Floor 1, Building 2, Yihe Third Road, Comprehensive
    Free Trade Zone,

    Linyi City, Shandong Province, China

	 	Telephone No.:	(86) 151-5394-0010
	 	
    

     

    Managers:

    
	
    

     

    Honghu Li

     

	 	 	 
	 	Address for Notice:
	 	 	 
	 	Address: 	
    No. 1209-011, Unit A, Floor 1, Building 2, Yihe Third Road, Comprehensive
    Free Trade Zone,

    Linyi City, Shandong Province, China

	 	Telephone No.:	(86) 151-5394-0010

 

[Signature
Page to Non-Competition and Non-Solicitation Agreement]

 

    8

     

    

 

Acknowledged
and accepted as of the date first written above:

 

	Planet Green Holdings Corporation
	 	 	 
	By:	 	 
	Name:	Bin Zhou	 
	Title:	CEO 	 
	 	 	 
	Shandong Yunchu Supply Chain Co., Ltd.
    
	 	 	 
	By:	 	 
	Name:	Honghu Li
     	 
	Title:	CEO	 

 

[Signature
Page to Non-Competition and Non-Solicitation Agreement]

 

 

9Document

Exhibit 10.1
PEABODY Logo
PEABODY ENERGY 
AUSTRALIA COAL PTY LTD
ABN: 61 001 401 663
100 Melbourne Street 
South Brisbane Qld 4101
GPO Box 164
Brisbane Qld 4001
Australia
Tel + 61 (0) 7 3225 5500
Fax + 61 (0) 7 3225 5555

December 9, 2021

PRIVATE & CONFIDENTIAL
Mr. Darren Yeates
c/- 100 Melbourne Street 
South Brisbane QLD 4101

Dear Darren:

Variation of Employment Contract

This letter serves to confirm the recent discussion regarding variations to the terms and conditions of your employment contract (Contract). Capitalized terms in this document have the meaning as defined in the Contract (as amended) unless otherwise specified. The details of the varied terms are outlined below and will be effective from 10 December 2021:

1.    The paragraph in the General Conditions document titled ‘Relocation to United States of
 America and subsequent employment’ is deleted in its entirety.

2.    Schedule 1 – Employment Offer Term Sheet is amended as follows:

a.The paragraph:

‘INTERIM LOCATION: Brisbane, Australia. Given current pandemic conditions and potential delays to obtain a U.S. work visa, candidate agrees to relocate at the earliest opportunity but no later than eighteen months from the initial date of hire, to the Company’s headquarters in St. Louis Missouri, USA, or will voluntarily resign employment if the latter, notice must be given a minimum of ninety (90) days prior to the end of the eighteen month period. Prior to relocation, COO and company agree to mutually seek an essential business exemption, allowing COO to spend up to 50% of the time in the U.S as job duties may require.’

is deleted in its entirety and replace with the following:

‘POSITION LOCATION: Brisbane’

b.The following paragraph is deleted in its entirety:
1

‘EMPLOYING ENTITY AND EMPLOYEE BENEFITS: Employee may initially be hired as an AU-based employee, and if so, employee will be entitled to participate in all employee benefit plans and programs applicable to similarly situated company employees. Employee agrees that the requirement to relocate to St Louis will be a condition of his initial employment in Brisbane, AU, and that upon relocation, he will become a U.S. employee (not an AU employee on expatriate assignment) and will then be entitled to participate in all employee benefit plans and programs applicable to similarly situated company employees’.

c.The following paragraph is deleted in its entirety:

‘U.S. EMPLOYMENT AND VISA: The position is U.S.-based and will ultimately be employed through Peabody Investment Corporation. Peabody will provide support and legal counsel for employee’s application for the U.S. employment authorization and work visa, and if applicable, to obtain appropriate U.S. visas for the accompanying spouse and for dependent children under the age of 26.’

All other benefits and conditions remain unchanged.

Please sign and return the acknowledgement below to signify your acceptance of these changes.

Yours sincerely, 

/s/ James Grech
James Grech
President & Chief Executive Officer
____________________________________________________________________________________
I acknowledge and accept the terms and conditions contained in this letter:

									
	/s/ Darren Yeates
		 /s/ Ferdinand Kruger
	Darren Yeates		Ferdinand Kruger
	Executive Vice President		Vice President Operations -
	& Chief Operating Officer		Human Resources

2

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