展品10.2

補償協議形式

小馬 人工智能公司。

此《賠償協議》（以下簡稱「本協議」）於 年 月 日（以下簡稱「生效日」）由Cayman Islands法律下享受有限責任的豁免公司XCHG有限公司（以下稱爲「受讓方」）和（以下稱爲「賠償方」）之間簽署並生效。協議於2024年______日簽署並生效，由以下雙方簽訂 Pony 人工智能有限公司，一家根據開曼群島法律設立的有限責任豁免公司（以下簡稱“公司”） 和______________（“受益人”).

鑑於各方已經簽署了日期爲 2022 年 11 月 21 日，經過修改、補充後形成的某商業組合協議（下稱「協議」）。

鑑於，高度勝任的人士日益不願擔任公開上市公司的董事或高管，除非他們得到足夠的保護，通過保險或適當的賠償來應對因其爲公司服務和活動而產生的訴訟和訴求風險。

鑑於公司和受益人認識到繼續難以爲其董事和高管獲得責任保險，在這種保險成本顯著增加和保險範圍普遍縮減的情況下。

鑑於與此類保險和賠償有關的不確定性增加了吸引和留住這些人的難度。

鑑於公司董事會 （以下簡稱“董事會董事會已確定，吸引和留住這些人的困難增加對公司股東利益不利，並且公司應採取行動，確保這些人將來將享有更多的保護。

鑑於，公司以合同方式對自身進行賠償義務，並向此類人員預付費用，以最大程度地允許適用法律，以便他們能夠自由地爲公司服務或繼續爲公司服務，而不必擔心賠償問題。

鑑於，本協議是公司章程的補充和發展（可能不時進行補充和修改）的一部分（以下簡稱“備忘錄和章程”) 並不得視爲其替代品，也不得減少或廢除受保障人在其中的任何權利。”

鑑於，被保險人認爲在當前情況下，備忘錄和章程以及保險提供的保護並不足夠，可能不願意在沒有足夠保護的情況下擔任公司的高管或董事，並且公司希望被保險人擔任此類職務。被保險人願意擔任，並繼續擔任，並承擔額外服務或代表公司服務的條件是他得到相應的補償。

鑑於上述情況和本協議中包含的契約條款，公司和受保障人特此達成以下契約並同意：

第1條
確定性定義

(a) 在本協議中使用的術語：

“控制權變更「」意味着在本文件日期之後發生的以下任何情況：(i)公司發生需要根據《交易所法》第14A調度表的第6(e)項報告的事件，無論公司是否當時受到此報告要求的約束；(ii) 任何「人員」或「組」（如交易所法第13(d)和14(d)條中所使用的術語）未經公司董事會至少三分之二的持續董事批准，成爲公司證券的「實質持有人」(如《交易所法》第13d-3條規定)直接或間接持有公司證券，代表公司當時流通投票權證券的30%或更多（爲本條(ii)的目的，術語「人員」不包括（x）公司，（y）公司僱員福利計劃中持有證券的任何受託人或其他受託人，以及（z）按照其對公司股份的持股比例大體相同的公司的股東直接或間接擁有的任何公司；(iii)公司與任何其他實體進行合併或合併，但不包括導致公司在此類合併或合併之前即時流通的投票權證券繼續代表（通過繼續流通或將其轉換爲具有投票權的生存實體的投票權證券）超過該類合併或合併後立即出現並擁有至少選舉生存實體的董事會或其他管理機構的至少佔多數的組合投票權裏多於51%的組合投票權；(iv)公司的全部或幾乎全部資產在一筆交易或一系列相關交易中出售或處置；(v)公司股東批准對公司進行全面清算；或(vi)持續董事因任何原因停止構成董事會成員大多數。

“持續董事”表示：本日期董事會上的每位董事。

“公司地位「」”指的是曾經或現任公司（或其他企業）的董事、高管、受託人、普通合夥人、管理成員、受託人、董事會委員、僱員或代理人的地位或身份。

“「無利益董事」指公司的董事，其本人不是訴訟的當事人，申請人不保護董事個人利益，而是主要與公司的利益有關。「董事」指的是公司中不是也曾經不是與受益人所尋求補償的訴訟有關的一方。

“企業「公司」指（i）公司，（ii）公司的任何子公司和關聯公司，以及（iii）任何由被保障人在公司的要求下擔任董事、高級職員、受託人、普通合夥人、管理成員、理事會委員會成員、僱員或代理人的公司、有限責任公司、合夥企業、合資企業、信託、僱員福利計劃或其他企業。

“使擁有公司註冊證券類別10%以上股權的官員、董事或實際股東代表簽署人遞交表格3、4和5（包括修正版及有關聯合遞交協議）,符合證券交易法案第16(a)條及其下屬規則規定的要求；”指1934年修訂的證券交易法案。

“費用「費用」指所有在與（i）起訴、辯護、準備起訴或辯護、調查、作或準備作證人，或以其他方式參與程序有關，或（ii）在本協議、備忘錄和章程、適用法律或其他方式下建立或執行獲得賠償權利方面合理發生的直接和間接成本（包括律師費、保全費、法院費用、筆錄費、專家費、證人費、旅行費、複印費、印刷和裝訂費、電話費、郵費、快遞服務費和所有其他支出或費用）。費用還應包括與任何程序引起的任何上訴有關的費用，包括與任何費用按金、覆蓋按金或其他上訴按金或其等值相關的保費、擔保以及其他成本。爲避免疑問，然而，費用不應包括任何負債。

“獨立法律顧問“獨立律師”表示一家律師事務所，或者該事務所的成員，在公司法律事務方面具有豐富的經驗，且在該事務所的選擇或任命中，當前並且在之前五年內皆未代表（i）該公司或受保人在任何對該方重要的事宜中承擔代表（與本協議下受保人事宜或其他類似賠償協議下其他受保人事宜無關的事宜除外）或（ii）引起基於此處賠償索賠的程序中涉及的任何其他方。儘管上述情況，但“獨立律師”一詞不包括根據當時適用的專業行為標準，將因代表公司或受保人進行確定本協議下受保人權益的行動而存在利益衝突的任何人。

“負債” 意指任何損失或負債，包括因任何訴訟而產生或相關的任何賠償、罰款、違法行為，以及為或有關任何此類訴訟、賠償、罰款或和解支付的全部費用（包括相關或與任何此類賠償、罰款、違法行為或和解有關的利息、評估費和其他收費）。

“進行中“受威脅的”，暫時的或已完成的行動，衍生行動，訴訟，索賠，反訴，交叉索賠，仲裁，替代爭議解決機制，調查，詢問，行政聽證會或其他實際的、受威脅的或已完成的訴訟程序，無論是民事（包括有意或無意的侵權索賠），刑事，行政或調查，包括由公司或其他方發起或代表公司或任何其他方發起的上訴，以及本保護協議任何項上述 Indemnitee 以證人、潛在當事人、非當事人證人或其他身份因 Indemnitee 之身份或他或她採取的行動 (或未採取的行動)、或他或她在任何身份中仍將參與的行動 (或未進行的行動) 的任何行為，或因他或她在擔任任何身份時採取的行動（或未採取的行動）或其部分行動（或未採取的行動）所進行的任何調查，或者因 Indemnitee 以員工、代理人、董事、顧問或其他身份而從事的行為（或未採取行動）而使 Indemnitee 以當事人、潛在當事人、非當事人證人或其他身份受到任何 Corporate Status 而受到任何騷擾。

(b)  根據本協議的規定：

「公司」一詞的引用，除了指導致或繼續存在的公司外，還包括合併或併購中被吸收的任何母公司（包括母公司的母公司），如果其獨立存在繼續下去，便擁有賦予其董事、高級職員、員工或代理人賠償的權力和授權。因此，如果受保人是被保條款提及的母公司的董事、高級職員、員工或代理人，或者是被保條款提到的母公司的董事、高級職員、員工或代理人正代表其他公司、合夥、合資企業、信託或其他企業服務，那麼受保人將以相同身份根據本協議的條款站在繼承或存續公司的立場，若其獨立存在維持下去，受保人將對該母公司具有同樣方式的賠償權。

對“其他企業”的提及應包括員工福利計劃；對“罰款”的提及應包括就任何員工福利計劃而徵收的任何消費稅；對“應公司要求提供服務”的提及應包括作為公司的董事、高級職員、員工或代理人在公司的子公司、聯屬公司、員工福利計劃、參與人員或受益人方面對所述董事、高級職員、員工或代理人提出職責或涉及服務的所有情況；以善意行事並理性地相信該行動符合員工福利計劃的參與人員和受益人最佳利益的人應被視為以“不違背公司最佳利益”的方式行事，如本協議中所指。

涉及「包括」一詞 必然指「包括但不限於」，無論「但不限於」一詞是否實際出現，對「本文件」、「本文」和「以下」等具有相似含義的字詞的引用，應指涉整個協議，而不僅僅指特定的段落、子段落、節、子節或其他細分。

文章 2
投保人提供的服務

第2.01節由被賠償方提供的服務。 被賠償方 在此同意擔任或繼續擔任 ，只要受保護人被正式選舉或任命或直到受保護人提出辭職或被免職。 公司的董事，直到被賠償方被正式選舉或任命或者被賠償方自行辭職或被解除職務爲止。 受保護人在此同意作爲公司的[高級管理人員] 繼續服務或繼續服務，直到受保護人的僱傭因任何原因終止。 公司的一個高級職員，直到被賠償方因任何原因終止其僱傭關係。

第3章
賠償

第3.01節。普通。 (a) 公司特此同意並應賠償受保護人並使受保護人免受任何費用和責任的影響，無論實際上還是合理地由受保護人或代表受保護人出面的人因受保護人的公司地位而發生，按適用法律規定的最大範圍進行。本公司在本第3.01節中規定的賠償義務適用於（i）受保護人在任何公司地位下的過去、現在和未來的服務以及（ii）無論受保護人在任何公司地位下任職時是否發生任何此類費用或責任。

根據本協議的目的，「在法律許可的最大範圍內」一詞的含義應包括但不限於：

（i）在開曼群島公司法（經修訂）的任何規定允許的最大範圍內（以下簡稱“根據上述情況，批准延期修改提議需要公司法案（修訂）（開曼群島）的特別決議，即在特別股東持有的普通股每股面值爲0.0001美元的股份中，至少有三分之二（2/3）的認同投票者，在股東大會或任何順延的時間以身份或代理人投票，爲贊成票。批准信託協議修正提議需要公司法案表示的普通決議，並根據信託協議，需要出席或代表投票的已發行和待上市普通股和創始股的認同投票者的投票數所佔的百分之六十五（65％），在股東大會或任何順延的時間中，有資格投票該項議題。錯期提議需要公司法案表示的普通決議，並由出席或代表投票的已發行和待上市的普通股和創始股的持有人中，佔出席投票者的簡單多數肯定投票。如果在股東大會上沒有足夠的投票來批准延長修正提議和信託協議修正提議，則將提出錯期提議進行投票。”）或任何後繼法規的對應規定允許的範圍內，且

（ii）在本協議簽訂日期後通過任何《公司法》的修正案或替代法案授權或允許的最大範圍內，增加公司對其高級職員和董事進行補償的幅度。

概括財務信息見證費用儘管本協議的其他條款，但因受益人因其公司地位，在任何受益人並非當事人的程序中作證，應對受益人或代表其爲此發生的一切實際合理費用提供賠償。

(c) 作爲一方完全或部分成功的一方產生的費用儘管本協議的其他規定，但在適用法律允許的最大範圍內，如果被保險人蔘與並在任何訴訟中或在辯護中某個或全部要求、問題或事項中全面或部分成功，公司應賠償被保險人在該訴訟相關費用中實際和合理支出的所有費用。如果被保險人在該訴訟中並不全面成功，但在一項或多項但不是全部訴求、問題或事項中在法律或其他方面成功，公司應在適用法律允許的最大範圍內對被保險人在成功解決的每項訴求、問題或事項中實際和合理髮生的費用進行賠償。所有這些針對費用的賠償應抵消被保險人因其在其中取得成功而獲得的現金金額。對於本條款，無論限制，在該訴訟中任何要求、問題或事項因撤訴（或有或無偏見）而終止的，應視爲對該要求、問題或事項的成功結果。

第3.02節。除外條款。 儘管本協議的任何規定， 除非獲賠方最終在任何此類索賠方面取得成功，否則公司不必根據本協議對針對獲賠方提出的任何索賠進行任何賠償：

(a) 對於由受賠償人購買和出售（或出售和購買）公司證券所產生的利潤的記賬，不管這些證券是否受到《交易所法》第16（b）條或類似州法律或普通法規定的要求的約束；或（ii）根據《交易所法》的要求，受賠償人對公司的任何獎金或其他基於激勵或股權的補償，或受賠償人從出售公司證券獲得的任何利潤的償還，包括根據《薩班斯-奧克斯利法》第304條對公司進行會計重述而產生的任何此類償還（“《薩班斯-奧克斯利法案》）或者賠償人購買和銷售違反美國《薩班斯-奧克斯利法案》第306條規定的證券產生的利潤支付給公司。

(b) 除非另有規定，根據本協議第6.01(e)條，在控制權變更之前，與任何由被保障人發起的訴訟（或任何訴訟的部分）相關的，包括任何由被保障人針對公司、公司董事、高管、員工或其他被保障人發起的訴訟（或任何訴訟的部分），除非(i) 董事會事先授權該訴訟（或任何訴訟的部分）或(ii) 公司依照適用法律授予公司的權力，自行決定提供賠償。

(c) 在被賠償方被賠償且實際上收到的款項不根據本協議的情況下；

(d) 與公司的司法行動有關，在對此索賠、問題或事項的最終判決中，若Indemnitee被法院裁定因欺詐或故意失職而對公司承擔責任，除非且僅在該司法行動提起的法院判斷申請時，儘管已裁定承擔責任，但鑑於案件的所有情況，Indemnitee合理且公正地有權獲得該法院認爲適當的相關費用的賠償。

(e) 由於適用法律禁止的任何判決、罰款或處罰， 公司不得作爲賠償支付；

(傳真) 因被 indemnity 方的行爲最終被裁定爲故意不當行爲、明知違反適用法律或從中獲得不當個人利益的交易；或

(g) 產生於被 indemnified 方違反與公司（如有）或（如適用）任何子公司或關聯公司的僱傭協議或其他協議。

第4條
支出的預付款；軍工股索賠的辯護

第4.01節先進的. 儘管本協議中的任何條款與此相反，公司應該會在每次事先或後續處理的期間內的30個工作日之內，根據書面申請提供適當和合理的支出，支付任何受益人與任何程序有關的費用。預付款應該是不受擔保的，免息的，而且與受益人償還當時的能力和最終根據本協議的其他條款享有免責的權利無衝突。預付款應該包括通過採取行動以強制執行這種預付款權利而造成的任何有意義的費用，包括準備和轉交書面聲明向公司支持所聲稱的預付款所發生的費用。超出預付支出金額的費用將被及時退還公司。在受益人沒有向公司請求任何預付費用的情況下，受益人應該能夠根據公司的書面請求儘快獲得與程序有關的費用的償還。 公司收到每份以書面形式提出的請求後的30個業務日 每次提前，無論在任何程序結束之前還是之後，都應該提前。提前款項應該是無抵押的，且不收取利息。應提前付款金額不受受款人償還此類金額的能力限制，也不受受款人根據本協議其他條款進行賠償的最終資格限制。提前付款應包括追索強迫執行這項提前權利而發生的一切合理費用，包括準備和 寄出書面聲明以支持所要求的提前支出的費用所產生的費用。已支出費用超出實際費用部分應迅速償還給公司。在受款人未向公司要求任何費用預付款的情況下， 受款人 應當有權儘快從公司那裏得到與程序相關的費用的追索，這是在受款人向公司書面請求追索後儘快進行。如本部分 和本協議中使用的“工作日應具有根據備忘錄和章程賦予的含義。

第4.02節。 知識產權。。預付款項或其他費用的償還。 受保護人同意，受保護人應當償還公司根據第4.01條提前支付的所有費用，只有在根據任何適用法律的規定和最終裁決（對此不再有上訴權或上訴期已屆滿）確定受保護人無權享有公司對這些費用的賠償的情況下，方可進行償還。

Section 4.03. Defense of Claims. The Company will be entitled to participate in the Proceeding at its own expense. Upon the delivery of written notice by the Company to Indemnitee, the Company shall be entitled to assume the defense of any Proceeding with counsel consented to by Indemnitee (such consent not to be unreasonably withheld), except for such Proceeding brought by the Company or as to which the Indemnitee has reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee. After delivery of such notice, consent to such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees or expenses of counsel subsequently incurred by Indemnitee with respect to such Proceeding; provided that (i) Indemnitee shall have the right to employ separate counsel in respect of any Proceeding at Indemnitee’s expense and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized in writing by the Company or (B) Indemnitee shall have reasonably concluded upon the advice of counsel that there is a conflict of interest between the Company and Indemnitee in the conduct of the defense of such Proceeding, then in each such case the fees and expenses of Indemnitee’s counsel shall be borne by the Company. Neither party to this Agreement shall settle any Proceeding in any manner that would impose any Expense, judgment, fine, damages, penalty or limitation on Indemnitee without the other party’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold its consent to any proposed settlement. The Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any Proceeding if the Company was not given a reasonable and timely opportunity to participate in the defense and/or settlement of such Proceeding.

ARTICLE 5 PROCEDURES FOR NOTIFICATION OF AND DETERMINATION OF ENTITLEMENT TO INDEMNIFICATION

Section 5.01. Notification; Request For Indemnification. (a) As a condition precedent to Indemnitee’s right to obtain indemnification under this Agreement, as soon as reasonably practicable after receipt by Indemnitee of a written notice that he or she is a party to or a participant (as a witness or otherwise) in any Proceeding or of any other matter in respect of which Indemnitee intends to seek indemnification or advancement of Expenses hereunder, Indemnitee shall provide to the Company written notice thereof, including the nature of and the facts underlying the Proceeding.

(b)  As a condition precedent to an Indemnitee’s right to obtain indemnification under this Agreement, Indemnitee shall deliver to the Company a written request for indemnification, including therewith such information as is reasonably available to Indemnitee and reasonably necessary to determine Indemnitee’s entitlement to indemnification hereunder and such information as reasonably requested by the Company. Such request(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion. Indemnitee’s entitlement to indemnification shall be determined according to Section 5.02 of this Agreement and applicable law.

Section 5.02. Determination of Entitlement. (a) Where there has been a written request by Indemnitee for indemnification pursuant to Section 5.01(b), then as soon as is reasonably practicable (but in any event not later than 60 calendar days) after final disposition of the relevant Proceeding, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case: (i) if a Change of Control shall not have occurred, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, or (B) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change of Control shall have occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) Business Days after such determination. Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) actually and reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification).

(b)  If entitlement to indemnification is to be determined by Independent Counsel pursuant to Section 5.02(a)(ii), such Independent Counsel shall be selected by Indemnitee, and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. If entitlement to indemnification is to be determined by Independent Counsel pursuant to Section 5.02(a)(i)(B) (or if Indemnitee requests that such selection be made by the Board), such Independent Counsel shall be selected by the Company in which case the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within ten (10) Business Days after such written notice of selection shall have been received, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 1 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. If, within 20 Business Days after the submission by Indemnitee of a written request for indemnification pursuant to Section 5.01(b) hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 5.02(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 6.01(a) of this Agreement, the Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

(c)  The Company agrees to pay the reasonable fees and expenses of any Independent Counsel serving under this Agreement.

Section 5.03. Presumptions and Burdens of Proof; Effect of Certain Proceedings. (a) In making any determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 5.01(b) of this Agreement, and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure of any person, persons or entity to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by any person, persons or entity that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

(b)  If the person, persons or entity empowered or selected under Section 5.02 of this Agreement to determine whether Indemnitee is entitled to indemnification shall not have made a determination within the sixty (60) day period referred to in Section 5.02(a), the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification , absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) calendar days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto.

(c)  The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful.

(d)  For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is in good faith reliance on the records or books of account of any Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of such Enterprise in the course of their duties, or on the advice of legal counsel for such Enterprise or on information or records given or reports made to such Enterprise by an independent certified public accountant or by an appraiser or other expert selected by such Enterprise. The provisions of this Section 5.03(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in this Agreement.

(e)  The knowledge and/or actions, or failure to act, of any other director, trustee, partner, managing member, fiduciary, officer, agent or employee of any Enterprise shall not be imputed to Indemnitee for purposes of determining any right to indemnification under this Agreement.

ARTICLE 6
REMEDIES OF INDEMNITEE

Section 6.01. Adjudication or Arbitration. (a) In the event of any dispute between Indemnitee and the Company hereunder as to entitlement to indemnification or advancement of Expenses (including where (i) a determination is made pursuant to Section 5.02 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 4.01 of this Agreement, (iii) payment of indemnification pursuant to Section 3.01 of this Agreement is not made within ten (10) Business Days after a determination has been made that Indemnitee is entitled to indemnification, (iv) no determination as to entitlement to indemnification is timely made pursuant to Section 5.02 of this Agreement and no payment of indemnification is made within ten (10) Business Days after entitlement is deemed to have been determined pursuant to Section 5.03(b)) or (v) a contribution payment is not made in a timely manner pursuant to Section 8.04 of this Agreement, then Indemnitee shall be entitled to an adjudication by a court of his or her entitlement to such indemnification, contribution or advancement. Alternatively, in such case, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by the Hong Kong International Arbitration Centre. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.

(b)  In the event that a determination shall have been made pursuant to Section 5.02(a) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 6.01 shall be conducted in all respects as a de novo trial, or arbitration, on the merits, and Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 6.01 the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be, and the Company may not refer to or introduce into evidence any determination pursuant to Section 5.02(a) of this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 6.01, Indemnitee shall not be required to reimburse the Company for any advances pursuant to Section 4.02 until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed).

(c)  If a determination shall have been made pursuant to Section 5.02(a) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 6.01, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

(d)  The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 6.01 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

(e)  The Company shall indemnify Indemnitee to the fullest extent permitted by law against all Expenses and, if requested by Indemnitee in writing, shall advance such Expenses to Indemnitee, which are reasonably incurred by Indemnitee in connection with any judicial proceeding or arbitration brought by Indemnitee for (i) indemnification or advances of Expenses by the Company (or otherwise for the enforcement, interpretation or defense of his or her rights) under this Agreement or any other agreement, including any other indemnification, contribution or advancement agreement, or any provision of the Memorandum and Articles now or hereafter in effect or (ii) recovery or advances under any directors’ and officers’ liability insurance policy maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, contribution, advancement or insurance recovery, as the case may be.

ARTICLE 7
DIRECTORS’ AND OFFICERS’ LIABILITY INSURANCE

Section 7.01. D&O Liability Insurance. To the extent that the Company maintains a policy or policies of insurance (“D&O Liability Insurance”) providing liability insurance for directors and officers of the Company in their capacities as such (and for any capacity in which any director or officer of the Company serves any other Enterprise at the request of the Company), in respect of acts or omissions occurring while serving in such capacity, Indemnitee shall be covered by the D&O Liability Insurance, in accordance with its or their terms, to the maximum extent of the coverage available for any other director or officer under such policy or policies. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable (or for which advancement is provided) hereunder or any other agreement, including any other indemnification, contribution or advancement agreement, or any provision of the Memorandum and Articles now or hereafter in effect if and to the extent that Indemnitee has actually received such payment under valid and enforceable D&O Liability Insurance.

Section 7.02. Evidence of Coverage. Upon request by Indemnitee, the Company shall provide copies of all policies of D&O Liability Insurance providing liability insurance for Indemnitee obtained and maintained in accordance with Section 7.01 of this Agreement. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Liability Insurance if the Company determines in good faith that such insurance is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage provided, or the coverage is reduced by exclusions so as to provide an insufficient benefit.

ARTICLE 8
MISCELLANEOUS

Section 8.01. Non-exclusivity of Rights. The rights of indemnification, contribution and advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled to under applicable law, the Memorandum and Articles, any agreement, a vote of stockholders or a resolution of directors, or otherwise. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

Section 8.02. Insurance and Subrogation. (a) If, at the time the Company receives notice of a claim hereunder, the Company has D&O Liability Insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. The failure or refusal of any such insurer to pay any such amount shall not affect or impair the obligations of the Company under this Agreement.

(b)  In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

(c)  The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable (or for which advancement is provided) hereunder if and to the extent that Indemnitee has actually received such payment under any insurance policy (including without limitation to policies of the D&O Liability Insurance) or other indemnity provision.

Section 8.03. The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, fiduciary, board of directors’ committee member, employee or agent of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such Enterprise.

Section 8.04. Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving rise to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). The relative fault of the Company on the one hand and of the Indemnitee on the other hand shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses. The Company agrees that it would not be just and equitable if contribution pursuant to this Section 8.04 were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations.

Section 8.05. Amendment. This Agreement may not be modified or amended except by a written instrument executed by or on behalf of each of the parties hereto. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit, restrict or reduce any right of Indemnitee under this Agreement in respect of any act or omission, or any event occurring, prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision limits rights with respect to indemnification, contribution or advancement of Expenses, it is the intent of the parties hereto that the rights with respect to indemnification, contribution or advancement of Expenses in effect prior to such change shall remain in full force and effect to the extent permitted by applicable law.

Section 8.06. Waivers. The observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) by the party entitled to enforce such term only by a writing signed by the party against which such waiver is to be asserted. Unless otherwise expressly provided herein, no delay on the part of any party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party hereto of any right, power or privilege hereunder operate as a waiver of any other right, power or privilege hereunder nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder.

Section 8.07. Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to the matters covered hereby are superseded by this Agreement, provided that this Agreement is a supplement to and in furtherance of the Memorandum and Articles and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

Section 8.08. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

Section 8.09. Notices. All notices, requests, demands and other communications under this Agreement shall be in writing (which may be by facsimile transmission). All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt. The address for notice to a party is as shown on the signature page of this Agreement, or such other address as any party shall have given by written notice to the other party as provided above.

Section 8.10. Binding Effect. (a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director or officer of the Company.

(b)  This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, and executors, administrators, personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all, or a substantial part of the business or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the manner and to the same extent that the Company would be required to perform if no such succession had taken place.

(c)  The indemnification, contribution and advancement of Expenses provided by, or granted pursuant to this Agreement shall continue during the period Indemnitee is an officer and/or a director of the Company or is or was serving at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any Proceeding by reason of his former or current capacity at the Company or any other enterprise at the Company’s request, whether or not he is acting or serving in any such capacity at the time any Expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall inure to the benefit of the heirs, executors, administrators, legatees and assigns of such Indemnitee.

Section 8.11. Governing Law. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, Cayman laws, without regard to its conflict of laws rules.

Section 8.12. Consent to Jurisdiction. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 6.01(a) of this Agreement, each of the parties to this Agreement irrevocably agrees that the courts of the Cayman Islands shall have nonexclusive jurisdiction to hear and determine any claim, suit, action or proceeding, and to settle any disputes, which may arise out of or are in any way related to or in connection with this Agreement, and, for such purposes, irrevocably submits to the nonexclusive jurisdiction of such courts.

Section 8.13. Headings. The Article and Section headings in this Agreement are for convenience of reference only, and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

Section 8.14. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

Section 8.15. U.S. Federal Preemption. Notwithstanding the foregoing, both the Company and Indemnitee acknowledge that in certain instances, U.S. federal law or public policy may override applicable law and prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise. Such instances include, but are not limited to, the U.S. Securities and Exchange Commission’s (the “SEC”) prohibition on indemnification for liabilities arising under certain U.S. federal securities laws. Indemnitee also understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee.

Section 8.16. No Employment Rights. Nothing in this Agreement is intended to create in Indemnitee any right to continued employment with the Company.

Section 8.17. Use of Certain Terms. As used in this Agreement, the words “herein,” “hereof,” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular paragraph, subparagraph, section, subsection, or other subdivision. Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa.

IN WITNESS WHEREOF, this Agreement has been duly executed and delivered to be effective as of the date first above written.