Document:

Exhibit
10.01

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT is made effective as of the 1st day of September, 2017.

 

BETWEEN:

 

H/CELL
ENERGY CORPORATION, a corporation formed pursuant to the laws of the State of Nevada and having an office for business located
at 97 River Road, Flemington, NJ 08822 (“Employer”);

 

AND

 

ANDREW
HIDALGO, an individual having an address at 99 Gorge Road, #2406, Edgewater, NJ 07020 (“Employee”)

 

WHEREAS,
Employee has agreed to continue to serve as an employee of Employer, and Employer has agreed to continue to employ Employee
as such, pursuant to the terms and conditions of this Employment Agreement (the “Agreement”).

 

NOW
THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration of the premises and the mutual covenants, agreements, representations
and warranties contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Employee and Employer hereby agree as follows:

 

ARTICLE
1

EMPLOYMENT

 

Employer
hereby affirms, renews and extends the employment of Employee as Chief Executive Officer of the Employer and Employee hereby affirms,
renews and accepts such employment by Employer for the “Term” (as defined in Article 3 below), upon the terms and
conditions set forth herein.

 

ARTICLE
2

DUTIES

 

During
the Term, Employee shall serve Employer faithfully, diligently and to the best of his ability, under the direction and supervision
of Employer as defined and shall use his best efforts to promote the interests and goodwill of Employer and any affiliates, successors,
assigns, subsidiaries, and/or future purchasers of Employer. Employee shall render such services during the Term at Employer’s
principal place of business or at such other place of business as may be determined by Employer, as Employer may from time to
time reasonably require of him, and shall devote all of his business time to the performance thereof. Employee shall have those
duties and powers as generally pertain to each of the offices of which he holds, as the case may be, subject to the control of
Employer.

 

ARTICLE
3

TERM

 

The
“Term” of this Agreement shall commence on the Effective Date and continue for five (5) years. Upon each one (1) year
anniversary of the Effective Date, the Agreement will automatically renew for another five (5) years from the anniversary date.
For purposes of this Agreement, the Effective Date shall be the date that the Employee, either directly or indirectly (including
through Turquino Equity LLC and any other entity affiliated with the Employee) is no longer entitled to receive compensation (whether
in the form of salary, fees, or any type of remuneration) from The Pride Group (Qld) Pty Ltd (or any other subsidiary, direct
or indirect, of the Employer).

 

    	 

    	 

    

 

ARTICLE
4

COMPENSATION

 

Salary

 

4.1

Employer
shall pay to Employee an annual salary of $156,000 (the “Salary”) payable in equal installments at the end of such
regular payroll accounting periods as are established by Employer, or in such other installments upon which the parties hereto
shall mutually agree, and in accordance with Employer’s usual payroll procedures, but no less frequently than monthly. In
addition to the Salary, Employee will be entitled to a discretionary annual bonus as determined by Employer.

 

Benefits

 

4.2

During
the Term, Employee shall be entitled to participate in all medical and other employee benefit plans, including vacation, sick
leave, retirement accounts and other employee benefits provided by the Employer to similarly situated employees on terms and conditions
no less favorable than those offered to such employees. Such participation shall be subject to the terms of the applicable plan
documents, Employer’s generally applicable policies, and the discretion of the Board of Directors or any administrative
or other committee provided for in, or contemplated by, such plan.

 

Expense
Reimbursement

 

4.3

Employer
shall reimburse Employee for reasonable and necessary expenses incurred by him on behalf of Employer in the performance of his
duties hereunder during the Term in accordance with Employer’s then customary policies, provided that such expenses are
adequately documented.

 

Automobile

 

4.4

Employee
shall be entitled to the full-time use of an automobile owned or leased by Employer. In addition, Employer shall reimburse Employee
for all maintenance and gasoline expenses associated with the automobile, provided that such expenses are adequately documented.

 

ARTICLE
5

OTHER
EMPLOYMENT

 

During
the Term of this Agreement, Employee shall devote substantially all of his business and professional time and effort, attention,
knowledge, and skill to the management, supervision and direction of Employer’s business and affairs as Employee’s
highest professional priority. Except as provided below, Employer shall be entitled to all benefits, profits or other issues arising
from or incidental to all work, services and advice performed or provided by Employee. Provided that the activities listed below
do not materially interfere with the duties and responsibilities under this Agreement, nothing
in this Agreement shall preclude Employee from devoting reasonable periods required for:

 

	 	(a)	Serving
    as a member or owner of any organization involving no conflict of interest with Employer;
	 	 	 
	 	(b)	Serving
    as a consultant in his area of expertise to government, commercial and academic panels where it does not conflict with the
    interests of Employer; and
	 	 	 
	 	(c)	Managing
    his personal investments or engaging in any other non-competing business

 

    	2 

    	 

    

 

ARTICLE
6

CONFIDENTIAL
INFORMATION/INVENTIONS

 

Confidential
Information

 

6.1

Employee
shall not, in any manner, for any reasons, either directly or indirectly, divulge or communicate to any person, firm or corporation,
any confidential information concerning any matters not generally known or otherwise made public by Employer which affects or
relates to Employer’s business, finances, marketing and/or operations, research, development, inventions, products, designs,
plans, procedures, or other data (collectively, “Confidential Information”) except in the ordinary course of business
or as required by applicable law. Without regard to whether any item of Confidential Information is deemed or considered confidential,
material, or important, the parties hereto stipulate that as between them, to the extent such item is not generally known, such
item is important, material, and confidential and affects the successful conduct of Employer’s business and goodwill, and
that any breach of the terms of this Section 6.1 shall be a material and incurable breach of this Agreement. Confidential Information
shall not include information in the public domain at the time of the disclosure of such information by Employee or information
that is disclosed by Employee with the prior consent of Employer.

 

Documents

 

6.2

Employee
further agrees that all documents and materials furnished to Employee by Employer and relating to the Employer’s business
or prospective business are and shall remain the exclusive property of Employer. Employee shall deliver all such documents and
materials, not copied, to Employer upon demand therefore and in any event upon expiration or earlier termination of this Agreement.
Any payment of sums due and owing to Employee by Employer upon such expiration or earlier termination shall be conditioned upon
returning all such documents and materials, and Employee expressly authorizes Employer to withhold any payments due and owing
pending return of such documents and materials.

 

Inventions

 

6.3

All
ideas, inventions, and other developments or improvements conceived or reduced to practice by Employee, alone or with others,
during the Term of this Agreement, whether or not during working hours, that are within the scope of the business of Employer
or that relate to or result from any of Employer’s work or projects or the services provided by Employee to Employer pursuant
to this Agreement, shall be the exclusive property of Employer. Employee agrees to assist Employer, at Employer’s expense,
to obtain patents and copyrights on any such ideas, inventions, writings, and other developments, and agrees to execute all documents
necessary to obtain such patents and copyrights in the name of Employer.

 

Disclosure

 

6.4

During
the Term, Employee will promptly disclose to the Board of Directors of Employer full information concerning any interest, direct
or indirect, of Employee (as owner, shareholder, partner, lender or other investor, director, officer, employee, consultant or
otherwise) or any member of his immediate family in any business that is reasonably known to Employee to purchase or otherwise
obtain services or products from, or to sell or otherwise provide services or products to, Employer or to any of its suppliers
or customers.

 

ARTICLE
7

COVENANT
NOT TO COMPETE

 

Except
as expressly permitted in Article 5 above, during the Term of this Agreement, (a) Employee shall not engage, directly or indirectly,
in any business or activity competitive to any business or activity engaged in by Employer or (b) soliciting or taking away or
interfering with any contractual relationship of any employee, agent, representative, contractor, supplier, vendor, customer,
franchisee, lender or investor of Employer, or using, for the benefit of any person or entity other than Employer, any Confidential
Information of Employer. The foregoing covenant prohibiting competitive activities shall survive the termination of this Agreement
and shall extend, and shall remain enforceable against Employee, for the period of one (1) year following the date this Agreement
is terminated. In addition, during the one-year period following such expiration or earlier termination, neither Employee nor
Employer shall make or permit the making of any negative statement of any kind concerning Employer or its affiliates, or their
directors, officers or agents or Employee.

 

    	3 

    	 

    

 

ARTICLE
8

SURVIVAL

 

Employee
agrees that the provisions of Articles 6, 7 and 9 shall survive expiration or earlier termination of this Agreement for any reasons,
whether voluntary or involuntary, with or without cause, and shall remain in full force and effect thereafter. Notwithstanding
the foregoing, if this Agreement is terminated upon the dissolution of Employer, the filing of a petition in bankruptcy by Employer
or upon an assignment for the benefit of creditors of the assets of Employer, Articles 6, 7 and 9 shall be of no further force
or effect.

 

ARTICLE
9

INJUNCTIVE
RELIEF

 

Employee
acknowledges and agrees that the covenants and obligations of Employee set forth in Articles 6 and 7 with respect to non-competition,
non-solicitation, confidentiality and Employer’s property relate to special, unique and extraordinary matters and that a
violation of any of the terms of such covenants and obligations will cause Employer irreparable injury for which adequate remedies
are not available at law. Therefore, Employee agrees that Employer shall be entitled to an injunction, restraining order or such
other equitable relief (without the requirement to post bond) as a court of competent jurisdiction may deem necessary or appropriate
to restrain Employee from committing any violation of the covenants and obligations referred to in this Article 9. These injunctive
remedies are cumulative and in addition to any other rights and remedies Employer may have at law or in equity.

 

ARTICLE
10

TERMINATION

 

Termination
by Employee

 

10.1

Employee
may terminate this Agreement for Good Reason at any time upon 30 days’ written notice to Employer, provided the Good Reason
has not been cured by Employer within such period of time.

 

Good
Reason

 

10.2

In
this Agreement, “Good Reason” means, without Employee’s prior written consent, the occurrence of any of the
following events, unless Employer shall have fully cured all grounds for such termination within thirty (30) days after Employee
gives notice thereof:

 

	 	(i)	any
    reduction in his then-current Salary;
	 	 	 
	 	(ii)	failure
    to pay or provide required compensation and benefits;
	 	 	 
	 	(iii)	any
    failure to appoint, elect or reelect him to the position of Chief Executive Officer of the Employer or the removal of him
    from such position;
	 	 	 
	 	(iv)	any
    material diminution in his title or duties or the assignment to him of duties not customarily associated with Employee’s
    position as Chief Executive Officer of the Employer;
	 	 	 
	 	(v)	any
    relocation of Employee’s office as assigned to him by Employer, to a location more than 25 miles from the assigned location;
	 	 	 
	 	(vi)	the
    failure of Employer to obtain the assumption in writing of its obligation to perform the Employment Agreement by any successor
    to all or substantially all of the assets of Employer or upon a merger, consolidation, sale or similar transaction of Employer
    or;
	 	 	 
	 	(vii)	the
    voluntary or involuntary dissolution of Employer, the filing of a petition in bankruptcy by Employer or upon an assignment
    for the benefit of creditors of the assets of Employer.

 

The
written notice given hereunder by Employee to Employer shall specify in reasonable detail the cause for termination, and such
termination notice shall not be effective until thirty (30) days after Employer’s receipt of such notice, during which time
Employer shall have the right to respond to Employee’s notice and cure the breach or other event giving rise to the termination.

 

    	4 

    	 

    

 

Termination
by Employer

 

10.3

Employer
may terminate its employment of Employee under this Agreement for cause at any time by written notice to Employee. For purposes
of this Agreement, the term “cause” for termination by Employer shall be (a) a conviction of or plea of guilty or
nolo contendere by Employee to a felony, or any crime involving fraud or embezzlement; (b) the refusal by Employee to perform
his material duties and obligations hereunder; (c) Employee’s willful and intentional misconduct in the performance of his
material duties and obligations; or (d) if Employee or any member of his family makes any personal profit arising out of or in
connection with a transaction to which Employer is a party or with which it is associated without making disclosure to and obtaining
the prior written consent of Employer. The written notice given hereunder by Employer to Employee shall specify in reasonable
detail the cause for termination, and such termination notice shall not be effective until thirty (30) days after Employee’s
receipt of such notice, during which time Employee shall have the right to respond to Employer’s notice and cure the breach
or other event giving rise to the termination.

 

Severance

 

10.4

Upon
a termination of this Agreement without Good Reason by Employee or with cause by Employer, Employer shall pay to Employee all
accrued and unpaid compensation as of the date of such termination. Upon a termination of this Agreement with Good Reason by Employee
or without cause by Employer, Employer shall pay to Employee all accrued and unpaid compensation and expense reimbursement as
of the date of such termination and the Severance Payment. The Severance Payment shall be defined as the Salary received by Employee
from Employer at time of such termination and shall equal an amount of Salary from the date of such termination until the end
of the Term of this Agreement (prorated for any partial month) as stated in Article 3. The Severance Payment shall be payable
in a lump sum, subject to Employer’s statutory and customary withholdings. If the termination of Employee hereunder is by
Employee with Good Reason, the Severance Payment shall be paid by Employer within five (5) business days of the expiration of
any applicable cure period. If the termination of Employee hereunder is by Employer without cause, the Severance Payment shall
be paid by Employer within five (5) business days of termination.

 

Termination
Upon Death

 

10.5

If
Employee dies during the Term of this Agreement, Employer shall pay Employee’s estate, within fifteen (15) business days
all compensation pursuant to Section 4.1 of this Agreement from the date of such death until the end of the Term of this Agreement
(prorated for any partial month) as stated in Article 3.

 

Termination
Upon Disability

 

10.6

If,
during the Term of this Agreement, Employee suffers and continues to suffer from a “Disability” then Employer may
terminate this Agreement by delivering to Employee thirty (30) days’ prior written notice of termination based on such Disability,
setting forth with specificity the nature of such Disability and the determination of Disability by Employer. For the purposes
of this Agreement, “Disability” means Employee’s inability, with reasonable accommodation, to substantially
perform Employee’s duties, services and obligations under this Agreement due to physical or mental illness for a continuous,
uninterrupted period of ninety (90) calendar days or one hundred twenty (120) days during any twelve month period. Upon any such
termination for Disability, Employer shall pay Employee or Employee’s estate, within fifteen (15) business days, all compensation
pursuant to Section 4.1 of this Agreement from the date of such termination for disability until the end of the Term of this Agreement
(prorated for any partial month) as stated in Article 3.

 

ARTICLE
11

PERSONNEL
POLICIES, BENEFITS, BENEFICIARIES

 

Except
as otherwise provided herein, Employee’s employment shall be subject to the personnel policies, benefit plans and vacation
plans which apply generally to Employer’s employees as the same may be interpreted, adopted, revised or deleted from time
to time, during the Term of this Agreement, by Employer in its sole discretion. This Agreement shall inure to the benefit of Employer
and any affiliates, successors, assigns, parent corporations, subsidiaries, and/or purchasers of Employer as they now or shall
exist while this Agreement is in effect.

 

    	5 

    	 

    

 

ARTICLE
12

GENERAL
PROVISIONS

 

No
Waiver

 

12.1

No
failure by either party to declare a default based on any breach by the other party of any obligation under this Agreement, nor
failure of such party to act quickly with regard thereto, shall be considered to be a waiver of any such obligation, or of any
future breach.

 

Indemnification

 

12.2

Employer
agrees that if Employee is made a party to any action, suit or proceeding by reason of the fact that he is or was a director or
officer of the Employer, Employee shall be indemnified and held harmless by Employer to the fullest extent permitted and will
be reimbursed by Employer for any expenses and legal fees associated with defending such action, suit or proceeding.

 

Modification

 

12.3

No
waiver or modification of this Agreement or of any covenant, condition, or limitation herein contained shall be valid unless in
writing and duly executed by the parties to be charged therewith.

 

Choice
of Jurisdiction

 

12.4

This
Agreement shall be governed by and construed in accordance with the laws of the state and country where the Employee maintains
a permanent address, without regard to any conflict-of-laws principles. Employer and Employee hereby consent to personal jurisdiction
before all courts in such state and country, and hereby acknowledge and agree that to be the most proper forum to bring a complaint
before a court of law.

 

Entire
Agreement

 

12.5

This
Agreement embodies the whole agreement between the parties hereto regarding the subject matter hereof and supersedes any agreement
prior to the Effective Date first above written. The parties agree that there are no inducements, promises, terms, conditions,
or obligations made or entered into by Employer or Employee other than contained herein.

 

Severability,
Headings and Assignment

 

12.6

All
agreements and covenants contained herein are severable, and in the event any of them, with the exception of those contained in
Articles 1 and 4 hereof, shall be held to be invalid by any competent court, this Agreement shall be interpreted as if such invalid
agreements or covenants were not contained herein. The headings contained herein are for the convenience of reference and are
not to be used in interpreting this Agreement. Employee may not assign, pledge or encumber his interest in this Agreement nor
assign any of his rights or duties under this Agreement without the prior written consent of Employer.

 

Independent
Legal Advice

 

12.7

Employer
has obtained legal advice concerning this Agreement and has requested that Employee obtain independent legal advice.

 

[signature
page follows]

 

    	6 

    	 

    

 

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

 

	Employer:
    H/CELL ENERGY CORPORATION	 	Employee:
    ANDREW HIDALGO
	 	 	 	 	 
	By:	/s/
    MATTHEW HIDALGO	 	By:	/s/
    ANDREW HIDALGO
	Name:	Matthew
    Hidalgo	 	 	 
	Title:	Chief
    Financial Officer	 	 	 

 

    	7Exhibit
10.02

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT is made effective as of the 1st day of September, 2017.

 

BETWEEN:

 

H/CELL
ENERGY CORPORATION, a corporation formed pursuant to the laws of the State of Nevada and having an office for business located
at 97 River Road, Flemington, NJ 08822 (“Employer”);

 

AND

 

MATTHEW
R. HIDALGO, an individual having an address at 4411 Bowser Avenue, #105, Dallas, TX 75219 (“Employee”)

 

WHEREAS,
Employee has agreed to continue to serve as an employee of Employer, and Employer has agreed to continue to employ Employee
as such, pursuant to the terms and conditions of this Employment Agreement (the “Agreement”).

 

NOW
THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration of the premises and the mutual covenants, agreements, representations
and warranties contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Employee and Employer hereby agree as follows:

 

ARTICLE
1

EMPLOYMENT

 

Employer
hereby affirms, renews and extends the employment of Employee as Chief Financial Officer of the Employer and Employee hereby affirms,
renews and accepts such employment by Employer for the “Term” (as defined in Article 3 below), upon the terms and
conditions set forth herein.

 

ARTICLE
2

DUTIES

 

During
the Term, Employee shall serve Employer faithfully, diligently and to the best of his ability, under the direction and supervision
of Employer as defined and shall use his best efforts to promote the interests and goodwill of Employer and any affiliates, successors,
assigns, subsidiaries, and/or future purchasers of Employer. Employee shall render such services during the Term at Employer’s
principal place of business or at such other place of business as may be determined by Employer, as Employer may from time to
time reasonably require of him, and shall devote all of his business time to the performance thereof. Employee shall have those
duties and powers as generally pertain to each of the offices of which he holds, as the case may be, subject to the control of
Employer.

 

ARTICLE
3

TERM

 

The
“Term” of this Agreement shall commence on the Effective Date and continue for five (5) years. Upon each one (1) year
anniversary of the Effective Date, the Agreement will automatically renew for another five (5) years from the anniversary date.
For purposes of this Agreement, the Effective Date shall be the date that the Employee, either directly or indirectly (including
through Turquino Equity LLC and any other entity affiliated with the Employee) is no longer entitled to receive compensation (whether
in the form of salary, fees, or any type of remuneration) from The Pride Group (Qld) Pty Ltd (or any other subsidiary, direct
or indirect, of the Employer).

 

    	 

    	 

    

 

ARTICLE
4

COMPENSATION

 

Salary

 

4.1

Employer
shall pay to Employee an annual salary of $150,000 (the “Salary”) payable in equal installments at the end of such
regular payroll accounting periods as are established by Employer, or in such other installments upon which the parties hereto
shall mutually agree, and in accordance with Employer’s usual payroll procedures, but no less frequently than monthly. In
addition to the Salary, Employee will be entitled to a discretionary annual bonus as determined by Employer.

 

Benefits

 

4.2

During
the Term, Employee shall be entitled to participate in all medical and other employee benefit plans, including vacation, sick
leave, retirement accounts and other employee benefits provided by the Employer to similarly situated employees on terms and conditions
no less favorable than those offered to such employees. Such participation shall be subject to the terms of the applicable plan
documents, Employer’s generally applicable policies, and the discretion of the Board of Directors or any administrative
or other committee provided for in, or contemplated by, such plan.

 

Expense
Reimbursement

 

4.3

Employer
shall reimburse Employee for reasonable and necessary expenses incurred by him on behalf of Employer in the performance of his
duties hereunder during the Term in accordance with Employer’s then customary policies, provided that such expenses are
adequately documented.

 

Automobile

 

4.4

Employee
shall be entitled to the full-time use of an automobile owned or leased by Employer. In addition, Employer shall reimburse Employee
for all maintenance and gasoline expenses associated with the automobile, provided that such expenses are adequately documented.

 

ARTICLE
5

OTHER
EMPLOYMENT

 

During
the Term of this Agreement, Employee shall devote substantially all of his business and professional time and effort, attention,
knowledge, and skill to the management, supervision and direction of Employer’s business and affairs as Employee’s
highest professional priority. Except as provided below, Employer shall be entitled to all benefits, profits or other issues arising
from or incidental to all work, services and advice performed or provided by Employee. Provided that the activities listed below
do not materially interfere with the duties and responsibilities under this Agreement, nothing in this Agreement shall preclude
Employee from devoting reasonable periods required for:

 

	 	(a)	Serving
    as a member or owner of any organization involving no conflict of interest with Employer;
	 	 	 
	 	(b)	Serving
    as a consultant in his area of expertise to government, commercial and academic panels where it does not conflict with the
    interests of Employer; and
	 	 	 
	 	(c)	Managing
    his personal investments or engaging in any other non-competing business

 

    	2 

    	 

    

 

ARTICLE
6

CONFIDENTIAL
INFORMATION/INVENTIONS

 

Confidential
Information

 

6.1

Employee
shall not, in any manner, for any reasons, either directly or indirectly, divulge or communicate to any person, firm or corporation,
any confidential information concerning any matters not generally known or otherwise made public by Employer which affects or
relates to Employer’s business, finances, marketing and/or operations, research, development, inventions, products, designs,
plans, procedures, or other data (collectively, “Confidential Information”) except in the ordinary course of business
or as required by applicable law. Without regard to whether any item of Confidential Information is deemed or considered confidential,
material, or important, the parties hereto stipulate that as between them, to the extent such item is not generally known, such
item is important, material, and confidential and affects the successful conduct of Employer’s business and goodwill, and
that any breach of the terms of this Section 6.1 shall be a material and incurable breach of this Agreement. Confidential Information
shall not include information in the public domain at the time of the disclosure of such information by Employee or information
that is disclosed by Employee with the prior consent of Employer.

 

Documents

 

6.2

Employee
further agrees that all documents and materials furnished to Employee by Employer and relating to the Employer’s business
or prospective business are and shall remain the exclusive property of Employer. Employee shall deliver all such documents and
materials, not copied, to Employer upon demand therefore and in any event upon expiration or earlier termination of this Agreement.
Any payment of sums due and owing to Employee by Employer upon such expiration or earlier termination shall be conditioned upon
returning all such documents and materials, and Employee expressly authorizes Employer to withhold any payments due and owing
pending return of such documents and materials.

 

Inventions

 

6.3

All
ideas, inventions, and other developments or improvements conceived or reduced to practice by Employee, alone or with others,
during the Term of this Agreement, whether or not during working hours, that are within the scope of the business of Employer
or that relate to or result from any of Employer’s work or projects or the services provided by Employee to Employer pursuant
to this Agreement, shall be the exclusive property of Employer. Employee agrees to assist Employer, at Employer’s expense,
to obtain patents and copyrights on any such ideas, inventions, writings, and other developments, and agrees to execute all documents
necessary to obtain such patents and copyrights in the name of Employer.

 

Disclosure

 

6.4

During
the Term, Employee will promptly disclose to the Board of Directors of Employer full information concerning any interest, direct
or indirect, of Employee (as owner, shareholder, partner, lender or other investor, director, officer, employee, consultant or
otherwise) or any member of his immediate family in any business that is reasonably known to Employee to purchase or otherwise
obtain services or products from, or to sell or otherwise provide services or products to, Employer or to any of its suppliers
or customers.

 

ARTICLE
7

COVENANT
NOT TO COMPETE

 

Except
as expressly permitted in Article 5 above, during the Term of this Agreement, (a) Employee shall not engage, directly or indirectly,
in any business or activity competitive to any business or activity engaged in by Employer or (b) soliciting or taking away or
interfering with any contractual relationship of any employee, agent, representative, contractor, supplier, vendor, customer,
franchisee, lender or investor of Employer, or using, for the benefit of any person or entity other than Employer, any Confidential
Information of Employer. The foregoing covenant prohibiting competitive activities shall survive the termination of this Agreement
and shall extend, and shall remain enforceable against Employee, for the period of one (1) year following the date this Agreement
is terminated. In addition, during the one-year period following such expiration or earlier termination, neither Employee nor
Employer shall make or permit the making of any negative statement of any kind concerning Employer or its affiliates, or their
directors, officers or agents or Employee.

 

    	3 

    	 

    

 

ARTICLE
8

SURVIVAL

 

Employee
agrees that the provisions of Articles 6, 7 and 9 shall survive expiration or earlier termination of this Agreement for any reasons,
whether voluntary or involuntary, with or without cause, and shall remain in full force and effect thereafter. Notwithstanding
the foregoing, if this Agreement is terminated upon the dissolution of Employer, the filing of a petition in bankruptcy by Employer
or upon an assignment for the benefit of creditors of the assets of Employer, Articles 6, 7 and 9 shall be of no further force
or effect.

 

ARTICLE
9

INJUNCTIVE
RELIEF

 

Employee
acknowledges and agrees that the covenants and obligations of Employee set forth in Articles 6 and 7 with respect to non-competition,
non-solicitation, confidentiality and Employer’s property relate to special, unique and extraordinary matters and that a
violation of any of the terms of such covenants and obligations will cause Employer irreparable injury for which adequate remedies
are not available at law. Therefore, Employee agrees that Employer shall be entitled to an injunction, restraining order or such
other equitable relief (without the requirement to post bond) as a court of competent jurisdiction may deem necessary or appropriate
to restrain Employee from committing any violation of the covenants and obligations referred to in this Article 9. These injunctive
remedies are cumulative and in addition to any other rights and remedies Employer may have at law or in equity.

 

ARTICLE
10

TERMINATION

 

Termination
by Employee

 

10.1

Employee
may terminate this Agreement for Good Reason at any time upon 30 days’ written notice to Employer, provided the Good Reason
has not been cured by Employer within such period of time.

 

Good
Reason

 

10.2

In
this Agreement, “Good Reason” means, without Employee’s prior written consent, the occurrence of any of the
following events, unless Employer shall have fully cured all grounds for such termination within thirty (30) days after Employee
gives notice thereof:

 

	 	(i)	any
    reduction in his then-current Salary;
	 	 	 
	 	(ii)	failure
    to pay or provide required compensation and benefits;
	 	 	 
	 	(iii)	any
    failure to appoint, elect or reelect him to the position of Chief Financial Officer of the Employer or the removal of him
    from such position;
	 	 	 
	 	(iv)	any
    material diminution in his title or duties or the assignment to him of duties not customarily associated with Employee’s
    position as Chief Executive Officer of the Employer;
	 	 	 
	 	(v)	any
    relocation of Employee’s office as assigned to him by Employer, to a location more than 25 miles from the assigned location;
	 	 	 
	 	(vi)	the
    failure of Employer to obtain the assumption in writing of its obligation to perform the Employment Agreement by any successor
    to all or substantially all of the assets of Employer or upon a merger, consolidation, sale or similar transaction of Employer
    or;
	 	 	 
	 	(vii)	the
    voluntary or involuntary dissolution of Employer, the filing of a petition in bankruptcy by Employer or upon an assignment
    for the benefit of creditors of the assets of Employer. 

 

The
written notice given hereunder by Employee to Employer shall specify in reasonable detail the cause for termination, and such
termination notice shall not be effective until thirty (30) days after Employer’s receipt of such notice, during which time
Employer shall have the right to respond to Employee’s notice and cure the breach or other event giving rise to the termination.

 

    	4 

    	 

    

 

Termination
by Employer

 

10.3

Employer
may terminate its employment of Employee under this Agreement for cause at any time by written notice to Employee. For purposes
of this Agreement, the term “cause” for termination by Employer shall be (a) a conviction of or plea of guilty or
nolo contendere by Employee to a felony, or any crime involving fraud or embezzlement; (b) the refusal by Employee to perform
his material duties and obligations hereunder; (c) Employee’s willful and intentional misconduct in the performance of his
material duties and obligations; or (d) if Employee or any member of his family makes any personal profit arising out of or in
connection with a transaction to which Employer is a party or with which it is associated without making disclosure to and obtaining
the prior written consent of Employer. The written notice given hereunder by Employer to Employee shall specify in reasonable
detail the cause for termination, and such termination notice shall not be effective until thirty (30) days after Employee’s
receipt of such notice, during which time Employee shall have the right to respond to Employer’s notice and cure the breach
or other event giving rise to the termination.

 

Severance

 

10.4

Upon
a termination of this Agreement without Good Reason by Employee or with cause by Employer, Employer shall pay to Employee all
accrued and unpaid compensation as of the date of such termination. Upon a termination of this Agreement with Good Reason by Employee
or without cause by Employer, Employer shall pay to Employee all accrued and unpaid compensation and expense reimbursement as
of the date of such termination and the Severance Payment. The Severance Payment shall be defined as the Salary received by Employee
from Employer at time of such termination and shall equal an amount of Salary from the date of such termination until the end
of the Term of this Agreement (prorated for any partial month) as stated in Article 3. The Severance Payment shall be payable
in a lump sum, subject to Employer’s statutory and customary withholdings. If the termination of Employee hereunder is by
Employee with Good Reason, the Severance Payment shall be paid by Employer within five (5) business days of the expiration of
any applicable cure period. If the termination of Employee hereunder is by Employer without cause, the Severance Payment shall
be paid by Employer within five (5) business days of termination.

 

Termination
Upon Death

 

10.5

If
Employee dies during the Term of this Agreement, Employer shall pay Employee’s estate, within fifteen (15) business days
all compensation pursuant to Section 4.1 of this Agreement from the date of such death until the end of the Term of this Agreement
(prorated for any partial month) as stated in Article 3.

 

Termination
Upon Disability

 

10.6

If,
during the Term of this Agreement, Employee suffers and continues to suffer from a “Disability” then Employer may
terminate this Agreement by delivering to Employee thirty (30) days’ prior written notice of termination based on such Disability,
setting forth with specificity the nature of such Disability and the determination of Disability by Employer. For the purposes
of this Agreement, “Disability” means Employee’s inability, with reasonable accommodation, to substantially
perform Employee’s duties, services and obligations under this Agreement due to physical or mental illness for a continuous,
uninterrupted period of ninety (90) calendar days or one hundred twenty (120) days during any twelve month period. Upon any such
termination for Disability, Employer shall pay Employee or Employee’s estate, within fifteen (15) business days, all compensation
pursuant to Section 4.1 of this Agreement from the date of such termination for disability until the end of the Term of this Agreement
(prorated for any partial month) as stated in Article 3.

 

ARTICLE
11

PERSONNEL
POLICIES, BENEFITS, BENEFICIARIES

 

Except
as otherwise provided herein, Employee’s employment shall be subject to the personnel policies, benefit plans and vacation
plans which apply generally to Employer’s employees as the same may be interpreted, adopted, revised or deleted from time
to time, during the Term of this Agreement, by Employer in its sole discretion. This Agreement shall inure to the benefit of Employer
and any affiliates, successors, assigns, parent corporations, subsidiaries, and/or purchasers of Employer as they now or shall
exist while this Agreement is in effect.

 

    	5 

    	 

    

 

ARTICLE
12

GENERAL
PROVISIONS

 

No
Waiver

 

12.1

No
failure by either party to declare a default based on any breach by the other party of any obligation under this Agreement, nor
failure of such party to act quickly with regard thereto, shall be considered to be a waiver of any such obligation, or of any
future breach.

 

Indemnification

 

12.2

Employer
agrees that if Employee is made a party to any action, suit or proceeding by reason of the fact that he is or was a director or
officer of the Employer, Employee shall be indemnified and held harmless by Employer to the fullest extent permitted and will
be reimbursed by Employer for any expenses and legal fees associated with defending such action, suit or proceeding.

 

Modification

 

12.3

No
waiver or modification of this Agreement or of any covenant, condition, or limitation herein contained shall be valid unless in
writing and duly executed by the parties to be charged therewith.

 

Choice
of Jurisdiction

 

12.4

This
Agreement shall be governed by and construed in accordance with the laws of the state and country where the Employee maintains
a permanent address, without regard to any conflict-of-laws principles. Employer and Employee hereby consent to personal jurisdiction
before all courts in such state and country, and hereby acknowledge and agree that to be the most proper forum to bring a complaint
before a court of law.

 

Entire
Agreement

 

12.5

This
Agreement embodies the whole agreement between the parties hereto regarding the subject matter hereof and supersedes any agreement
prior to the Effective Date first above written. The parties agree that there are no inducements, promises, terms, conditions,
or obligations made or entered into by Employer or Employee other than contained herein.

 

Severability,
Headings and Assignment

 

12.6

All
agreements and covenants contained herein are severable, and in the event any of them, with the exception of those contained in
Articles 1 and 4 hereof, shall be held to be invalid by any competent court, this Agreement shall be interpreted as if such invalid
agreements or covenants were not contained herein. The headings contained herein are for the convenience of reference and are
not to be used in interpreting this Agreement. Employee may not assign, pledge or encumber his interest in this Agreement nor
assign any of his rights or duties under this Agreement without the prior written consent of Employer.

 

Independent
Legal Advice

 

12.7

Employer
has obtained legal advice concerning this Agreement and has requested that Employee obtain independent legal advice.

 

[signature
page follows]

 

    	6 

    	 

    

 

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

 

	Employer:
    H/CELL ENERGY CORPORATION	 	Employee:
    MATTHEW R. HIDALGO
	 	 	 	 	 
	By:	/s/
    ANDREW HIDALGO	 	By:	/s/
    MATTHEW R. HIDALGO
	Name:	Andrew
    Hidalgo	 	 	 
	Title:	Chief
    Executive Officer	 	 	 

 

    	7

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