Document:

Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(the “AGREEMENT”) is made and entered into on December 30, 2021 by and between Wing Wai “John” Au (the “EXECUTIVE”)
and Millennium Group International Holdings Limited, a Cayman Islands company (the “COMPANY”).

 

WHEREAS, the Company and the
Executive desire to enter into this Agreement to memorialize the terms and conditions of the Executive’s employment with the Company
starting on the date hereof.

 

NOW, THEREFORE, in consideration
of the premises, the mutual covenants and representations contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

Article I. Employment;
Responsibilities; Compensation

 

Section 1.01 Employment.
Subject to ARTICLE 3, the Company hereby agrees to employ Executive and Executive hereby agrees to be employed by the Company,
in accordance with this Agreement, for the period commencing as of the Effective Date and ending on December 31, 2022 (“INITIAL
TERM”). the Initial Term shall automatically be extended one additional year unless either party gives written notice to the other
party 60 days prior to expiration of the Initial Term that it or she, as applicable, does not wish to extend this Agreement. Executive’s
continued employment after the expiration of the Initial Term shall be in accordance with and governed by this Agreement, unless modified
by the parties to this Agreement in writing. For purposes of this Agreement the Initial Term and any extended term shall be referred to
as the “TERM”. 

 

Section 1.02 Responsibilities;
Loyalty

 

(a) Subject
to the terms of this Agreement, Executive is employed in the position of Chief Financial Officer and Executive Director of the Company,
and shall perform the functions and responsibilities of that position. Additional or different duties may be assigned by the Company from
time to time. Executive’s position, job descriptions, duties and responsibilities maybe modified from time to time in the sole discretion
of the Company. 

 

(b) Executive
shall devote the whole of Executive’s professional time, attention and energies to the performance of Executive’s work. Executive
agrees to comply with all policies of the Company, if any, in effect from time to time, and to comply with all laws, rules and regulations,
including those applicable to the Company. 

 

Section 1.03 Compensation.
The Company will pay Employee an annual base salary at a rate of HKD720,000(or approximately $92,833) per annum (the “Base Salary”),
payable in accordance with the Company’s regular payroll policy for salaried employees. If the Employment Period is terminated “For
Cause” pursuant to Article III hereof or is otherwise shorter than a full contract year, then the Base Salary for any partial year
will be prorated and paid through the date of termination based on the number of days elapsed in such year during which services were
actually performed by Employee, and the Company shall have no further obligation to pay the Employee’s Base Salary following the
date of termination. Notwithstanding anything herein to the contrary, the Company shall not be obligated to pay Employee the Base Salary
during any period in which Employee has exhausted Employee’s paid time off and is either (a) receiving short-term or long-term disability
benefits under any policy or program maintained by the Company, (b) on family or medical leave, or (c) is unable to perform Employee’s
essential job duties by reason of a physical or Family mental incapacity or disability with or without a reasonable accommodation. The
Compensation shall also be subject to the approval of Company’s Board of Directors and/or Compensation Committees.

 

Section 1.04 Business
Expenses. The Company shall reimburse Executive for all business expenses that are reasonable and necessary
and incurred by Executive while performing his duties under this Agreement, upon presentation of expense statements, receipts and/or vouchers
or such other information and documentation as the Company may reasonably require. 

 

     

     

    

 

Article II. Confidential
Information; Post-Employment Obligations; Company Property 

 

Section 2.01 Company
Property. As used in this Article II, the term the “Company” refers to the Company and each
of its direct and indirect subsidiaries. All written materials, records, data and other documents relating to Company business, products
or services prepared or possessed by Executive during Executive’s employment by the Company are the Company’s property. All
information, ideas, concepts, improvements, discoveries and inventions that are conceived, made, developed or acquired by Executive individually
or in conjunction with others during Executive’s employment (whether during business hours and whether on Company’s premises
or otherwise) that relate to Company business, products or services are the Company’s sole and exclusive property. All memoranda,
notes, records, files, correspondence, drawings, manuals, models, specifications, computer programs, maps and all other documents, data
or materials of any type embodying such information, ideas, concepts, improvements, discoveries and inventions are Company property. At
the termination of Executive’s employment with the Company for any reason, Executive shall return all of the Company’s documents,
data or other Company property to the Company. 

 

Section 2.02 Confidential
Information; Non-Disclosure.

 

(a) Executive
acknowledges that the business of the Company is highly competitive and that the Company will provide Executive with access to Confidential
Information. Executive acknowledges that this Confidential Information constitutes a valuable, special and unique asset used by the Company
in its business to obtain a competitive advantage over competitors. Executive further acknowledges that protection of such Confidential
Information against unauthorized disclosure and use is of critical importance to the Company in maintaining its competitive position.
Executive agrees that Executive will not, at any time during or after Executive’s employment with the Company, make any unauthorized
disclosure of any Confidential Information of the Company, or make any use thereof, except in the carrying out of Executive’s employment
responsibilities to the Company. Executive also agrees to preserve and protect the confidentiality of third-party Confidential Information
to the same extent, and on the same basis, as the Company’s Confidential Information. 

 

(b) For
purposes hereof, “CONFIDENTIAL INFORMATION” includes all non-public information regarding the Company’s business operations
and methods, existing and proposed investments and investment strategies, seismic, well-log and other geologic and oil and gas operating
and exploratory data, financial performance, compensation arrangements and amounts (whether relating to the Company or to any of its employees),
contractual relationships, business partners and relationships (including customers and suppliers), strategies, business plans and other
confidential information that is used in the operation, technology and business dealings of the Company, regardless of the medium in which
any of the foregoing information is contained, so long as such information is actually confidential and proprietary to the Company. 

 

Section 2.03 Non-Competition
Obligations.

 

(a) Executive
acknowledges and agrees that as an employee and representative of the Company, Executive will be responsible for building and maintaining
business relationships and goodwill with current and future operating partners, investors, partners and prospects on a personal level.
Executive acknowledges and agrees that this responsibility creates a special relationship of trust and confidence between the Company,
Executive and these persons or entities. Executive also acknowledges that this creates a high risk and opportunity for Executive to misappropriate
these relationships and the goodwill existing between the Company and such persons. Executive acknowledges and agrees that it is fair
and reasonable for the Company to take steps to protect itself from the risk of such misappropriation. 

 

(b) Executive
acknowledges and agrees that, in exchange for his agreement in SECTION 2.03(c) below, he will receive substantial, valuable consideration
from the Company upon the execution of this Agreement and during the course of this Agreement, including, (i) Confidential Information
and access to Confidential Information, (ii) compensation and other benefits and (c) access to the Company’s prospects.

 

    2

     

    

 

(c) During
the Non-Compete Term and provided that the Company has made all severance payments provided for herein (to the extent applicable), Executive
will not, directly or indirectly, provide the same or substantially the same services that he provides to the Company to any Business
Enterprise in the Market Area (as defined below) without prior written consent, which will not be unreasonably withheld. This includes
working as an agent, consultant, employee, officer, director, partner or independent contractor or being a shareholder, member, joint
venturer or equity owner in, any such Business Enterprise; PROVIDED, HOWEVER, that the foregoing shall not restrict Executive from holding
up to 5% of the voting power or equity of one or more Business Enterprises. 

 

(d) For
purposes of hereof: 

 

(i) “BUSINESS
ENTERPRISE” means any corporation, partnership, limited liability company, sole proprietorship, joint venture or other business
association or entity (other than the Company) engaged in the business of publishing national and regional publications and development
of technology that serves the needs of online and print publishers and their advertisers in the Market Area;

 

(ii) “MARKET
AREA” means: (1) New York County, New York, and (3) any geographic area in which the Company is conducting any material amount publishing
or development of technology during the Term, and for which he has material responsibilities or about which he has material Confidential
Information; and 

 

(iii)
“NON-COMPETE TERM” means in the case of termination for any reason,
the period from the Effective Date to the date ending 2 years following the date of termination.

 

Section 2.04 Non-Solicitation
of Executives. During the Non-Compete Term, Executive will not, either directly or indirectly, call
on, solicit or induce any other executive or officer of the Company or its affiliates with whom Executive had contact, knowledge of, or
association with in the course of employment with the Company to terminate his employment, and will not assist any other person or entity
in such a solicitation; PROVIDED, HOWEVER, that with respect to soliciting any executive or officer whose employment was terminated by
the Company or its affiliates, or general solicitations for employment not targeted at current officers or employees of the Company or
its affiliates, the foregoing restriction shall not apply.

 

Article III. Termination
of Employment 

 

Section 3.01 Termination
of Employment.

 

(a) Executive’s
employment with the Company shall be terminated (i) immediately upon the death of Executive without further action by the Company,
(ii) upon Executive’s Permanent Disability without further action by the Company, (iii) by the Company for Cause, (iv) by
Executive without Good Reason, (v) by the Company without Cause or by Executive for Good Reason, including by the Company without
Cause or by Executive for Good Reason within 12 months following a Change of Control, provided that, in the case of clause (v),
the terminating party must give at least 30 days’ advance written notice of such termination. For purposes of this ARTICLE III,
“date of termination” means the date of Executive’s death, the date of Executive’s Permanent Disability, or the
date of Executive’s separation from service with the Company, as applicable. 

 

(b) For
purposes hereof: 

 

(i) “CAUSE”
shall include (A) continued failure by Executive to perform substantially Executive’s duties and responsibilities (other than
a failure resulting from Permanent Disability) that is materially injurious to the Company and that remains uncorrected for 10 days after
receipt of appropriate written notice from the Board; (B) engagement in willful, reckless or grossly negligent misconduct that is
materially injurious to Company or any of its affiliates, monetarily or otherwise; (C) except as provided by (D), the indictment
of Executive with a crime involving moral turpitude or a felony; (D) the indictment of Executive for an act of criminal fraud, misappropriation
or personal dishonesty; or (E) a material breach by Executive of any provision of this Agreement that is materially injurious to
the Company and that remains uncorrected for 10 days following written notice of such breach by the Company to Executive identifying the
provision of this Agreement that Company determined has been breached. For purposes of (C) and (D), if the criminal charge is subsequently
dismissed with prejudice or the Executive is acquitted at trial or on appeal then the Executive will be deemed to have been terminated
without Cause.

 

    3

     

    

 

(ii)
“CHANGE OF CONTROL” means the occurrence of any one or more of the following events that occurs after the Effective Date:

 

1) Any
“person” (as such term is used in sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “EXCHANGE
ACT”)) becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities
of the Company representing more than 50% of the voting power of the then outstanding securities of the Company; provided that a Change
of Control shall not be deemed to occur as a result of a transaction in which the Company becomes a subsidiary of another corporation
and in which the stockholders of the Company, immediately prior to the transaction, will beneficially own, immediately after the transaction,
shares entitling such stockholders to more than 50% of all votes to which all stockholders of the parent corporation would be entitled
in the election of directors; or

 

2) The
consummation of (A) a merger or consolidation of the Company with another corporation where the stockholders of the Company, immediately
prior to the merger or consolidation, will not beneficially own, immediately after the merger or consolidation, shares entitling such
stockholders to more than 50% of all votes to which all stockholders of the surviving corporation would be entitled in the election of
directors, (B) a sale or other disposition of all or substantially all of the assets of the Company, or (C) a liquidation or dissolution
of the Company.

 

(iii) “GOOD
REASON” shall mean one or more of the following conditions arising not more than six months before Executive’s termination
date without Executive’s consent: (A) a material breach by the Company of any provision of this Agreement; (B) assignment
by the Board or a duly authorized committee thereof to Executive of any duties that materially and adversely alter the nature or status
of Executive’s position, job descriptions, duties, title or responsibilities from those of a President and Chief Executive Officer,
or eligibility for Company compensation plans; (C) requirement by the Company for Executive to relocate to a primary place of business
which is more than [50] miles away from the Executive’s primary place of business as of the Effective Date of this Agreement; or
(D) a material reduction in Executive’s Base Salary in effect at the relevant time. Notwithstanding anything herein to the
contrary, Good Reason will exist only if Executive provides notice to the Company of the existence of the condition otherwise constituting
Good Reason within 90 days of the initial existence of the condition, and the Company fails to remedy the condition on or before the 30th
day following its receipt of such notice. 

 

(iv)
“PERMANENT DISABILITY” shall mean Executive’s inability to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months. Executive will be deemed permanently disabled if determined to be totally disabled by the Social Security
Administration or if determined to be disabled in accordance with a disability insurance program that applies a definition of disability
that complies with the requirements of this paragraph. 

 

(c) If
Executive’s employment is terminated under any of the foregoing circumstances, all future compensation to which Executive is otherwise
entitled and all future benefits for which Executive is eligible, other than those already earned but which is unpaid, shall cease and
terminate as of the date of termination, except as specifically provided in this ARTICLE III. 

 

Article IV. Miscellaneous

 

Section 4.01 Notices.
All notices and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been
duly given if delivered personally, mailed by certified mail (return receipt requested) or sent by overnight delivery service, or electronic
mail, or facsimile transmission.

 

    4

     

    

 

Section 4.02 Severability
and Reformation. If any one or more of the terms, provisions, covenants or restrictions of this Agreement
shall be determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions shall remain in full force and effect, and the invalid, void or unenforceable provisions shall be deemed severable.
Moreover, if any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to
duration, geographical scope, activity or subject, it shall be reformed by limiting and reducing it to the minimum extent necessary, so
as to be enforceable to the extent compatible with the applicable law as it shall then appear. 

 

Section 4.03 Assignment.
This Agreement shall be binding upon and inure to the benefit of the heirs and legal representatives
of Executive and the permitted assigns and successors of the Company, but neither this Agreement nor any rights or obligations hereunder
shall be assignable or otherwise subject to hypothecation by Executive (except by will or by operation of the laws of intestate succession)
or by the Company, except that the Company may assign this Agreement to any successor (whether by merger, purchase or otherwise), if such
successor expressly agrees to assume the obligations of the Company hereunder.

 

Section 4.04 Amendment.
This Agreement may be amended only by writing signed by Executive and by the Company. 

 

Section 4.05 GOVERNING
LAW. THIS AGREEMENT SHALL BE CONSTRUED, INTERPRETED AND GOVERNED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REFERENCE TO RULES RELATING TO CONFLICTS OF LAW. 

 

Section 4.06 Jurisdiction.
Each of the parties hereto hereby irrevocably consents and submits to the exclusive jurisdiction of
the state and federal courts located in NEW YORK in connection with any proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby and waives any objection to venue in NEW YORK. In addition, each of the parties hereto hereby waives
trial by jury in connection with any claim or proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby.

 

Section 4.07 Entire
Agreement. This Agreement contains the entire understanding between the parties hereto with respect
to the subject matter hereof and supersedes in all respects any prior or other agreement or understanding, written or oral, between the
Company or any affiliate of the Company and Executive with respect to such subject matter, including the Employment Agreement. 

 

Section 4.08 Counterparts;
No Electronic Signatures. This Agreement may be executed in two or more counterparts, each of which
will be deemed an original. For purposes of determining whether a party has signed this Agreement or any document contemplated hereby
or any amendment or waiver hereof, only a handwritten signature on a paper document or a facsimile transmission of a handwritten original
signature will constitute a signature, notwithstanding any law relating to or enabling the creation, execution or delivery of any contract
or signature by electronic means. 

 

Section 4.09 Construction.
The headings and captions of this Agreement are provided for convenience only and are intended to have
no effect in construing or interpreting this Agreement. The language in all parts of this Agreement shall be in all cases construed in
accordance to its fair meaning and not strictly for or against the Company or Executive. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” 

 

[signature page follows]

 

    5

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement on the date first written above:

 

	 	Sincerely,
	 	 
	 	
    Millennium Group International Holdings
Limited

	 	 
	 	/s/ Millennium Group International Holdings Limited
	 	 

	AGREED AND ACCEPTED:	 
	 	 
	/s/ Wing Wai “John” Au	 
	Wing Wai “John” Au	 

 

 

6Exhibit 10.4

 

Millennium Group International Holdings Limited

Rm 2722, 27/F, No.1 Hung To Road, Kwun Tong,

Kowloon, Hong Kong 999077

 

[●], 2022

 

Re: Independent Director Offer Letter –
[●]

 

Dear [●]:

 

Millennium
Group International Holdings Limited, a Cayman Islands limited liability company (the “Company” or “we”),
is pleased to offer you a position as an Independent Director of the Company. We believe your background and experience will
be a significant asset to the Company and we look forward to your participation as an Independent Director in the Company. Should you
choose to accept this position as an Independent Director, this letter agreement (the “Agreement”) shall constitute an agreement
between you and the Company and contains all the terms and conditions relating to the services you agree to provide to the Company. Your
appointment shall also be subject to the approval of Company’s Board of Directors and/or Nomination and Compensation Committees
and shall begin upon Company’s listing on the Nasdaq Capital Market.

 

1. Term. This
Agreement is effective upon Company’s listing on the Nasdaq Capital Market for a term of [●] years. Your term as an Independent
Director shall continue subject to the provisions in Section 9 below or until your successor is duly elected and qualified. The
position shall be up for re-appointment every year by the board of the Directors of the Company (the “Board”) and upon re-appointment,
the terms and provisions of this Agreement shall remain in full force and effect.

 

2. Services. You
shall render customary services as an Independent Director, Chair of the [●] Committee, and member of the [●] Committee and
[●] Committee (hereinafter, your “Duties”). During the term of this Agreement, you may attend and participate at each
meeting regarding the business and operation issues of the Company as regularly or specially called, via teleconference, video conference
or in person. You shall consult with the members of the Board and committee (if any) regularly and as necessary via telephone, electronic
mail or other forms of correspondence.

 

3. Services
for Others. You shall be free to represent or perform services for other persons during the term of this Agreement. 

 

4. Compensation. As
compensation for your services to the Company, you will receive upon execution of this Agreement a compensation of $[●] for each
calendar year of service under this Agreement on a pro-rated basis, payable on a quarterly basis.

 

You shall be reimbursed for
reasonable expenses incurred by you in connection with the performance of your Duties (including travel expenses for in-person meetings).

 

5. D&O
Insurance Policy. During the term under this Agreement, the Company shall include you as an insured under its officers and
directors insurance policy, if available.

 

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

 

     

     

    

 

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

 

a. Definition.  For
purposes of this Agreement the term “Confidential Information” means: (i) any information which the Company possesses that
has been created, discovered or developed by or for the Company, and which has or could have commercial value or utility in the business
in which the Company is engaged; (ii) any information which is related to the business of the Company and is generally not known by non-Company
personnel; and (iii) Confidential Information includes, without limitation, trade secrets and any information concerning products, processes,
formulas, designs, inventions (whether or not patentable or registrable under copyright or similar laws, and whether or not reduced to
practice), discoveries, concepts, ideas, improvements, techniques, methods, research, development and test results, specifications, data,
know-how, software, formats, marketing plans, and analyses, business plans and analyses, strategies, forecasts, customer and supplier
identities, characteristics and agreements.

 

b. Exclusions. Notwithstanding
the foregoing, the term Confidential Information shall not include: (i) any information which becomes generally available or is readily
available to the public other than as a result of a breach of the confidentiality portions of this Agreement, or any other agreement requiring
confidentiality between the Company and you; (ii) information received from a third party in rightful possession of such information
who is not restricted from disclosing such information; (iii) information known by you prior to receipt of such information from the Company,
which prior knowledge can be documented and (iv) information you are required to disclose pursuant to any applicable law, regulation,
judicial or administrative order or decree, or request by other regulatory organization having authority pursuant to the law; provided,
however, that you shall first have given prior written notice to the Company and made a reasonable effort to obtain a protective order
requiring that the Confidential Information not be disclosed.

 

c. Documents. You
agree that, without the express written consent of the Company, you will not remove from the Company’s premises, any notes, formulas,
programs, data, records, machines or any other documents or items which in any manner contain or constitute Confidential Information,
nor will you make reproductions or copies of same. You shall promptly return any such documents or items, along with any reproductions
or copies to the Company upon the Company’s demand, upon termination of this Agreement, or upon your termination or Resignation (as defined
in Section 9 herein).

 

 

d. Confidentiality. You
agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or indirectly,
any Confidential Information or anything relating to such information without the prior written consent of the Company, except as may
be necessary in the course of your business relationship with the Company. You further agree that you will not use any Confidential
Information without the prior written consent of the Company, except as may be necessary in the course of your business relationship with
the Company, and that the provisions of this paragraph (d) shall survive termination of this Agreement. Notwithstanding the foregoing,
you may disclose Confidential Information to your legal counsel and accounting advisors who have a need to know such information for accounting
or tax purposes and who agree to be bound by the provisions of this paragraph (d).

 

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

 

8. Non-Solicitation.
During the term of your appointment, you shall not solicit for employment any employee of the Company with whom you have had contact due
to your appointment.

 

9. Termination
and Resignation. Your services as an Independent Director may be terminated for any or no reason by the determination
of the Board. You may also terminate your services as an Independent Director for any or no reason by delivering your written notice of
resignation to the Company (“Resignation”), and such Resignation shall be effective upon the time specified therein or, if
no time is specified, upon receipt of the notice of resignation by the Company. Upon the effective date of the termination or Resignation,
your right to compensation hereunder will terminate subject to the Company’s obligations to pay you any compensation that you have already
earned and to reimburse you for approved expenses already incurred in connection with your performance of your Duties as of the effective
date of such termination or Resignation.

 

    2

     

    

 

10. Governing
Law; Arbitration.  All questions with respect to the construction and/or enforcement of this Agreement,
and the rights and obligations of the parties hereunder, shall be determined in accordance with the law of the State of New York. All
disputes with respect to this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof
or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration
administered by the American Arbitration Association at its New York office in force when the Notice of Arbitration is submitted. The
law of this arbitration clause shall be New York law. The seat of arbitration shall be in New York. The number of arbitrators shall be
one. The arbitration proceedings shall be conducted in English.

 

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

 

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

 

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

 

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

 

	 	Sincerely,
	 	 	 
	 	Millennium Group International Holdings Limited
	 	 	 
	 	By:	 
	 	 	
    [●]

    Chief Executive Officer

 

	AGREED AND ACCEPTED:
	 	 
	 	 
	[●]
	Address:
	Phone Number:
	Email:

 

 

3

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