Document:

Exhibit 10.3

 

Dragon Victory International Limited

Room 1803, Yintai International Building, Kejiguan
Road,

Binjiang District, Hangzhou, Zhejiang Province,
China

+86-571-82213772

 

December 9, 2021

 

Mr. Bingzhong Wang

[*]

 

		Re:	Director
Offer Letter

 

Dear Mr. Bingzhong Wang,

 

Dragon Victory International
Limited, a Cayman Islands exempted company with limited liability (the “Company”), is pleased to offer you a position
as a member of its board of directors (the “Board”). We believe your background and experience will be a significant
asset to the Company and we look forward to your participation on the Board. Should you choose to accept this position as a member of
the Board, this letter agreement (this “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.

 

1. Term. This
Agreement is effective upon your acceptance and signature below. Your term as a director shall commence upon you being elected to the
Board. Subject to the Company’s memorandum and articles of association, as amended, and the provisions in Section 8 below, your
term shall continue until your successor is duly elected and qualified. The position shall be up for re-election each year at the annual
shareholder’s meeting, and upon re-election, the terms and provisions of this Agreement shall remain in full force and effect.

 

2. Services.
You shall render services as a member of the Board and the Board committees set forth on Schedule A attached hereto
(hereinafter your “Duties”). During the term of this Agreement, you shall attend and participate in such number of
meetings of the Board and of the Board committee(s) of which you are a member as regularly or specially called. You may attend and participate
at each such meeting via teleconference, video conference, or in person. You shall consult with the other members of the Board and Board
committee(s) as necessary via telephone, electronic mail, or other forms of correspondence.

 

3. Compensation.
As compensation for your services to the Company, you will receive compensation as set forth on Schedule B attached
hereto (hereinafter, the “Compensation”) for serving on the Board during your term as a director. You shall be reimbursed
for reasonable and approved expenses incurred by you in connection with the performance of your Duties.

 

4. 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.

 

5. Confidential Information;
Non-Disclosure. In consideration of your access to certain Confidential Information (as defined below) of the Company, and 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; or

 

ii. Any information
which is related to the business of the Company and is generally not known by non-Company personnel. 

 

iii. Confidential
Information includes, without limitation, trade secrets and any information concerning services provided by the Company, concepts, ideas,
improvements, techniques, methods, research, data, know-how, software, formats, marketing plans, general analyses, business plans and
analyses, strategies, forecasts, customer and supplier identities, characteristics and agreements.

 

     

     

    

 

Dragon Victory International Limited

Room 1803, Yintai International Building, Kejiguan
Road,

Binjiang District, Hangzhou, Zhejiang Province,
China

+86-571-82213772

 

b. Exclusions.
Notwithstanding the foregoing, the term “Confidential Information” shall not include:

 

i. Any information
which becomes generally 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; and

 

iii. Information
known by you prior to receipt of such information from the Company, which prior knowledge can be documented.

 

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 earliest of Company’s demand, termination of this Agreement, or your termination or Resignation, as defined in
Section 8 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 maybe
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.

 

e. Ownership. You agree
that 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 or conveyances as may be necessary in respect hereof, and to
perfect, obtain, maintain, enforce, and defend any rights assigned or otherwise conveyed.

 

6. Non-Competition.
You agree and undertake that you will not, so long as you are a member of the Board and for a period of 12 months following termination
of this Agreement for whatever reason, directly or indirectly as owner, partner, joint venture, shareholder, employee, broker, agent principal,
corporate officer, director, licensor, or in any other capacity whatsoever, engage in, become financially interested in, be employed by,
or have any connection with any business or venture that is engaged in any activities involving services or products which compete, directly
or indirectly, with the services or products provided or proposed to be provided by the Company or its subsidiaries or affiliates in the
People’s Republic of China; provided, however, that you may own securities of any public corporation
which is engaged in such business but in an amount not to exceed at any one time, one percent of any class of stock or securities of such
company, so long as you has no active role in the publicly owned company as director, employee, consultant, or otherwise. 

 

7. Non-Solicitation.
So long as you are a member of the Board and for a period of 12 months thereafter, you shall not directly or indirectly solicit for employment
any individual who was an employee of the Company during your tenure.

 

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Dragon Victory International Limited

Room 1803, Yintai International Building, Kejiguan
Road,

Binjiang District, Hangzhou, Zhejiang Province,
China

+86-571-82213772

 

8. Termination and Resignation.
Your membership on the Board may be terminated for any or no reason by an Ordinary Resolution, as defined in the Company’s memorandum
and articles of association, as amended. Your membership on the Board or on any Board committee shall be terminated if you become of unsound
mind, are prohibited by law from acting as a director, or are subject to any other conditions as specified in the Company’s memorandum
and articles of association, as amended. Your membership on any Board committee will be terminated on the same effective date when your
membership on the Board is terminated. You may also terminate your membership on the Board or on any Board committee 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 be subject to the Company’s obligations to pay
you any compensation (including the vested portion of the securities of the Company) 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. Any securities of the Company that have not vested as of the effective date of such termination or Resignation shall be
forfeited and cancelled.

 

9. Governing Law.
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 internal laws of the State of New York without regard to conflict of laws provisions therein.

 

10. 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.

 

11. 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 negligence, fraud, bad faith, 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.

 

12. Not an Employment
Agreement. This Agreement is not an employment agreement, and shall not be construed or interpreted to create any right for you
as an employee of 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 the Company of any questions arising under this Agreement.

 

[Signature Page Follows]

 

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Dragon Victory International Limited

Room 1803, Yintai International Building, Kejiguan
Road,

Binjiang District, Hangzhou, Zhejiang Province,
China

+86-571-82213772

 

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

 

	 	Sincerely,

 

	 	
    Dragon Victory International Limited

	 	 
	 	/s/ Limin Liu 
	 	By: 	Limin Liu
	 	Title: 	Chief Executive Officer

 

AGREED AND ACCEPTED:

 

	/s/ Bingzhong Wang	 
	By: 	Bingzhong Wang	 

 

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Dragon Victory International Limited

Room 1803, Yintai International Building, Kejiguan
Road,

Binjiang District, Hangzhou, Zhejiang Province,
China

+86-571-82213772

 

Schedule A

 

The Director is offered to serve on the following
Board committee(s):

 

	Committee	Title
	Audit Committee	 
	Nominating and Corporate Governance Committee	 
	Compensation Committee	 

 

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Dragon Victory International Limited

Room 1803, Yintai International Building, Kejiguan
Road,

Binjiang District, Hangzhou, Zhejiang Province,
China

+86-571-82213772

 

Schedule B

Compensation

 

During your term as a member of the Board, you
will receive cash compensation in the amount of HKD760,000 per year, which shall be paid to you quarterly at the end of each quarter.

 

 

6Exhibit 10.4

 

EMPLOYMENT AGREEMENT

 

This
EMPLOYMENT AGREEMENT (the “Agreement”), is entered into as of December 9, 2021, by and between Dragon Victory International
Limited, a company incorporated and existing under the laws of Cayman Islands (the “Company”), and Bingzhong Wang,
an individual (the “Executive”). The term “Company” as used herein with respect to all obligations of the
Executive hereunder shall be deemed to include the Company and all of its direct or indirect parent companies, subsidiaries, affiliates,
or subsidiaries or affiliates of its parent companies (collectively, the “Group”).

 

RECITALS

 

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

 

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

 

AGREEMENT

 

The parties hereto agree
as follows:

 

	1.	POSITION

 

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

 

	2.	TERM

 

Subject to
the terms and conditions of this Agreement, the initial term of the Employment shall be three years, commencing upon the Employment being
approved by the Board of Directors (the “Board”) of the Company (the “Effective Date”), unless terminated
earlier pursuant to the terms of this Agreement. Upon expiration of the three-year term, the Employment shall be automatically extended
for successive one-year terms unless terminated earlier pursuant to the terms of this Agreement prior to the expiration of such one-year
term.

 

	3.	PROBATION

 

There is no probationary period.

 

	4.	DUTIES AND RESPONSIBILITIES

 

The Executive’s
duties at the Company will include all jobs assigned by the Board.

 

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

 

     

     

    

 

	5.	NO BREACH OF CONTRACT

 

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

 

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

 

	6.	LOCATION

 

The Executive will be based in Hong
Kong, until both parties hereto agree to change otherwise. The Executive acknowledges that he/she may be required to travel from time
to time in the course of performing his/her duties for the Company.

 

	7.	COMPENSATION AND BENEFITS

 

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

 

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

 

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

 

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	8.	TERMINATION OF THE AGREEMENT

 

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

 

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

 

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

 

	9.	CONFIDENTIALITY AND NONDISCLOSURE

 

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

 

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

 

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

 

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

 

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

 

	10.	WITHHOLDING TAXES

 

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

 

	11.	NOTIFICATION OF NEW EMPLOYER

 

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

 

	12.	ASSIGNMENT

 

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

 

	13.	SEVERABILITY

 

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

 

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	14.	ENTIRE AGREEMENT

 

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

 

	15.	REPRESENTATIONS

 

The Executive
hereby agrees to execute any proper oath or verify any proper document required to carry out the terms of this Agreement. The Executive
hereby represents that the Executive’s performance of all the terms of this Agreement will not breach any agreement to keep in confidence
proprietary information acquired by the Executive in confidence or in trust prior to his/her Employment by the Company. The Executive
has not entered into, and hereby agrees that he/she will not enter into, any oral or written agreement in conflict with this Section 15.
The Executive represents that the Executive will consult his/her own consultants for tax advice and is not relying on the Company for
any tax advice with respect to this Agreement or any provisions hereunder.

 

	16.	GOVERNING LAW

 

This Agreement
shall be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflict of laws.

 

	17.	ARBITRATION

 

Any dispute
or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel
of three arbitrators in New York, New York, in accordance with the rules of the American Arbitration Association then in effect. Judgment
may be entered on the arbitrator’s award in any court having jurisdiction. Each party to this agreement agrees that it will not
challenge the jurisdiction or venue provisions as provided in this Section 17.

 

	18.	AMENDMENT

 

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

 

    5

     

    

 

	19.	WAIVER

 

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

  

	20.	NOTICES

 

All notices,
requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have
been duly given and made if (i) sent by facsimile or email (provided confirmation of transmission is mechanically or electronically generated
and kept on file by the sending party), (ii) delivered by hand, (iii) otherwise delivered against receipt therefor, or (iv) sent
by a recognized courier with next-day or second-day delivery to the last known address of the other party.

 

	21.	COUNTERPARTS

 

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

 

	22.	NO INTERPRETATION AGAINST DRAFTER

 

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

 

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

 

    6

     

    

 

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

 

	Dragon Victory International Limited	 
	 	 	 
	By:	
    /s/ Limin Liu
	 
	Name: 	Limin Liu	 
	Title:	Chief Executive Officer	 

 

Executive

 

	Signature: 	
    /s/ Bingzhong Wang
	 
	Name:	Bingzhong Wang	 

 

[Signature Page to
Employment Agreement]

 

    7

     

    

 

Schedule A

 

Annual compensation is HKD240,000.

 

 

8

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