Exhibit
10.1


 


INDEMNIFICATION
AND ADVANCEMENT AGREEMENT


 


This
Indemnification and Advancement Agreement (“Agreement”) is made as of May 13, 2021 by and between Nano Magic Holdings
Inc., a Delaware corporation (the “Company”), and ___, a member of the Board of Directors of the Company (“Indemnitee”).


 


Background


 


A.
The Board of Directors of the Company (the “Board”) believes that capable individuals have become reluctant to serve
publicly-held corporations as directors unless they are provided with adequate protection through insurance or adequate indemnification
and advancement of expenses against risks of claims and actions against them arising out of their service to and activities on behalf
of the corporation.


 


B.
Directors in service to business enterprises are increasingly subjected to expensive and time-consuming litigation relating to, among
other things, matters that traditionally would have been brought only against the business enterprise itself. The Certificate of Incorporation
of the Company requires indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification
under the General Corporation Law of the State of Delaware (the “DGCL”). The Certificate of Incorporation and the
DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts
may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification
and advancement of expenses.


 


C.
The uncertainties and expense regarding the availability of insurance for the protection of officers and directors supplemental to the
Company’s commitment(s) related to indemnification and to advancement of expenses may increase the difficulty of attracting and
retaining capable and qualified individuals to serve on the Board.


 


D.
The Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty of
such protection in the future.


 


E.
It is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf
of, its directors to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from
undue concern that they will not be so indemnified.


 


F.
This Agreement is a supplement to and in furtherance of the Certificate of Incorporation and any resolutions adopted pursuant thereto,
and is not a substitute therefor, nor diminishes or abrogates any rights of Indemnitee thereunder.


 


Agreement


 


NOW,
THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree
as follows:


 


Section
1. Services to the Company. Indemnitee agrees to serve as a director of the Company. Indemnitee may at any time and for any reason
resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law). This Agreement
does not create any obligation on the Company to continue Indemnitee in such position.


 


Section
2. Definitions. As used in this Agreement:


 


(a)
“Agent” means any person who is authorized by the Company or an Enterprise to act for or represent the interests of
the Company or an Enterprise, respectively.


 




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(b)
A “Change in Control” occurs upon the earliest to occur after the date of this Agreement of any of the following events:


 


i.
Acquisition of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly
or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s
then outstanding securities unless the change in relative beneficial ownership of the Company’s securities by any Person is approved
in advance by a majority of the Board in advance of the acquisition that results in ownership above 11% or results solely from a reduction
in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors;


 


ii.
Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution
of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director
designated by a person who has entered into an agreement with the Company to effect a Change of Control transaction described in Sections
2(b)(i), 2(b)(iii) or 2(b)(iv)) whose election by the Board or nomination for election by the Company’s stockholders was approved
by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose
election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members
of the Board;


 


iii.
Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger
or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than
50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation
and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;


 


iv.
Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the
sale or disposition by the Company of all or substantially all of the Company’s assets; and


 


v.
Certain Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e)
of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange
Act (as defined below), whether or not the Company is then subject to such reporting requirement.


 


vi.
For purposes of this Section 2(b), the following terms have the following meanings:


 


	 	1	“Exchange
    Act” means the Securities Exchange Act of 1934, as amended from time to time.
	 	 	 
	 	2	“Person”
    has the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person excludes (i) the Company,
    (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned,
    directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the
    Company.
	 	 	 
	 	3	“Beneficial
    Owner” has the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner
    excludes any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the
    Company with another entity.


 


(c)
“Corporate Status” means the status of a person who is or was acting as a director, officer, employee, fiduciary,
or Agent of the Company or an Enterprise.


 


(d)
“Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect
of which indemnification is sought by Indemnitee.


 


(e)
“Enterprise” means any other corporation, limited liability company, partnership, joint venture, trust, employee benefit
plan or other entity for which Indemnitee is or was serving at the request of the Company as a director, officer, employee, or Agent.


 




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(f)
“Expenses” means all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts and
other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery
service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments
under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in
connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise
participating in, a Proceeding. Expenses also include Expenses incurred in connection with any appeal resulting from any Proceeding,
including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal
bond or its equivalent. Expenses, however, do not include amounts paid in settlement by Indemnitee or judgments or fines against Indemnitee.


 


(g)
“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law
and neither presently is, nor in the past three years has been, representing: (i) the Company or Indemnitee in any matter material to
either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar
indemnification agreements), or (ii) any adverse party to the Proceeding giving rise to a claim for indemnification hereunder.


 


(h)
“Proceeding” means any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration,
mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or
completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, legislative,
or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved as a party,
potential party, non-party witness or otherwise by reason of Indemnitee’s Corporate Status or by reason of any action taken by
Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while acting under
Indemnitee’s Corporate Status, in each case whether or not serving in such capacity at the time any liability or Expense is incurred
for which indemnification, reimbursement, or advancement of Expenses can be provided under this Agreement.


 


Section
3. Indemnity in Third-Party Proceedings. The Company will indemnify Indemnitee under this Section 3 if Indemnitee is, or is threatened
to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment
in its favor. Under this Section 3, the Company will indemnify Indemnitee to the fullest extent permitted by applicable law against all
Expenses, judgments, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection
with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably incurred by Indemnitee
or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of
a criminal Proceeding had no reasonable cause to believe that Indemnitee’s conduct was unlawful.


 


Section
4. Indemnity in Proceedings by or in the Right of the Company. The Company will indemnify Indemnitee under this Section 4 if Indemnitee
is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment
in its favor. Under this Section 4, the Company will indemnify Indemnitee to the fullest extent permitted by applicable law against all
Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim,
issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to
the best interests of the Company. The Company will not indemnify Indemnitee for Expenses under this Section 4 related to any claim,
issue or matter in a Proceeding for which Indemnitee has been finally adjudged by a court to be liable to the Company, unless, and only
to the extent that, the Delaware Court of Chancery or any court in which the Proceeding was brought determines upon application by Indemnitee
that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled
to indemnification.


 


Section
5. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To the fullest extent permitted by applicable law,
the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection with any Proceeding
the extent that Indemnitee is successful, on the merits or otherwise. If Indemnitee is not wholly successful in such Proceeding but is
successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company
will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section
5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
will be deemed to be a successful result as to such claim, issue or matter.


 




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Section
6. Indemnification for Expenses of a Witness. To the fullest extent permitted by applicable law, the Company will indemnify Indemnitee
against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any Proceeding
to which Indemnitee is not a party but to which Indemnitee is a witness, deponent, interviewee, or otherwise asked to participate.


 


Section
7. Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company
for some or a portion of Expenses, but not, however, for the total amount thereof, the Company will indemnify Indemnitee for the portion
thereof to which Indemnitee is entitled.


 


Section
8. Exclusions. Notwithstanding any provision in this Agreement, the Company is not obligated under this Agreement to make any
indemnification payment or advancement to Indemnitee in connection with any Proceeding:


 


(a)
for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except
with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or


 


(b)
if the action or omission of the Indemnitee was undertaken with deliberate intent to cause injury to the Company or Enterprise or undertaken
with reckless disregard for the best interests of the Company or Enterprise; or


 


(c)
for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 14(b) of the Exchange Act (as defined in Section 2(b)) or similar provisions of state statutory law or common
law, (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or of
any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including
any such reimbursements that arise from an accounting restatement of the Company under Section 304 of the Sarbanes-Oxley Act of 2002
(the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee
of securities in violation of Section 306 of the Sarbanes-Oxley Act) or (iii) any reimbursement of the Company by Indemnitee of any compensation
under any compensation recoupment or clawback policy adopted by the Board or the compensation committee of the Board, including but not
limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act; or


 


(d)
initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its
directors, officers, employees or other indemnitees, unless (i) the Proceeding or part of any Proceeding is to enforce Indemnitee’s
rights to indemnification or advancement, of Expenses, (ii) the Board authorized the Proceeding (or any part of any Proceeding) prior
to its initiation or (iii) the Company provides the indemnification, in its sole discretion, under the powers vested in the Company under
applicable law.


 


Section
9. Advances of Expenses.


 


(a)
The Company will advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding
(or any part of any Proceeding) not initiated by Indemnitee or any Proceeding (or any part of any Proceeding) initiated by Indemnitee
if (i) the Proceeding or part of any Proceeding is to enforce Indemnitee’s rights to obtain indemnification or advancement of Expenses
from the Company or Enterprise, (ii) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation. The
Company will advance the Expenses within thirty (30) days after the receipt by the Company of a statement or statements requesting such
advances from time to time, whether prior to or after final disposition of any Proceeding.


 


(b)
Advances will be unsecured and interest free unless and until it may be determined that Indemnitee is obligated to repay some or all
of the amounts advanced. Indemnitee undertakes to repay the amounts advanced (without interest) to the extent that it is ultimately determined
that Indemnitee is not entitled to be indemnified by the Company, thus Indemnitee qualifies for advances upon the execution of this Agreement
and delivery to the Company. No other form of undertaking is required other than the execution of this Agreement. The Company will make
advances without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement
to indemnification under the other provisions of this Agreement.


 




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Section
10. Procedure for Notification of Claim for Indemnification or Advancement.


 


(a)
Indemnitee will notify the Company in writing of any Proceeding with respect to which Indemnitee intends to seek indemnification or advancement
of Expenses hereunder as soon as reasonably practicable. Indemnitee will include in the written notification to the Company a description
of the nature of the Proceeding and the facts underlying the Proceeding and provide such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification
following the final disposition of such Proceeding. Indemnitee’s failure to notify the Company will not relieve the Company from
any obligation it may have to Indemnitee under this Agreement, and any delay in so notifying the Company will not constitute a waiver
by Indemnitee of any rights under this Agreement. The Secretary of the Company will, promptly upon receipt of such a request for indemnification
or advancement, advise the Board in writing that Indemnitee has requested indemnification or advancement.


 


(b)
The Company will be entitled to participate in the Proceeding at its own expense.


 


Section
11. Procedure Upon Application for Indemnification.


 


(a)
Unless a Change of Control has occurred, the determination of Indemnitee’s entitlement to indemnification will be made:


 


i.
by a majority vote of the Disinterested Directors, even though less than a quorum of the Board;


 


ii.
by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum
of the Board;


 


iii.
if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by written opinion provided by Independent
Counsel selected by the Board; or


 


iv.
if so directed by the Board, by the stockholders of the Company.


 


(b)
If a Change in Control has occurred, the determination of Indemnitee’s entitlement to indemnification will be made by written opinion
provided by Independent Counsel selected by Indemnitee (unless Indemnitee requests such selection be made by the Board)


 


(c)
The party selecting Independent Counsel under subsection (a)(iii) or (b) of this Section 11 will provide written notice of the selection
to the other party. The notified party may, within ten (10) days after receiving written notice of the selection of Independent Counsel,
deliver to the selecting party a written objection to such selection; except, 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
2, and the objection will set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the
person so selected will 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 the Delaware Court has determined that
such objection is without merit. If, within thirty (30) days after the later of submission by Indemnitee of a written request for indemnification
under Section 10(a) and the final disposition of the Proceeding, Independent Counsel has not been selected or, if selected, any objection
to has not been resolved, either the Company or Indemnitee may petition the Delaware Court for the appointment as Independent Counsel
of a person selected by such court or by such other person as such court designates.


 


(d)
Indemnitee will cooperate with the person, persons or entity making the 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. The Company will advance and pay any Expenses incurred by Indemnitee in so cooperating with the person, persons
or entity making the indemnification determination irrespective of the determination as to Indemnitee’s entitlement to indemnification
and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. The Company promptly will advise Indemnitee in writing
of the determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which
indemnification has been denied.


 




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(e)
If it is determined that Indemnitee is entitled to indemnification, the Company will make payment to Indemnitee within thirty (30) days
after such determination.


 


Section
12. Non-exclusivity; Survival of Rights; Insurance; Subrogation.


 


(a)
The indemnification and advancement of Expenses provided by this Agreement are not exclusive of any other rights to which Indemnitee
may at any time be entitled. The indemnification and advancement of Expenses provided by this Agreement may not be limited or restricted
by any amendment, alteration or repeal of this Agreement with respect to any action taken or omitted by Indemnitee in Indemnitee’s
Corporate Status occurring prior to the amendment, alteration or repeal of this Agreement. To the extent that a change in Delaware law,
whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently
under the Certificate of Incorporation, or this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement
the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or
remedy, and every other right and remedy is cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise.


 


(b)
Except as stated in Section 12(d), the Company is the indemnitor of first resort with respect to any request for indemnification or advancement
of Expenses made under this Agreement concerning any Proceeding;


 


(c)
If and to the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, or agents of the Company, the Company will obtain a policy or policies covering Indemnitee to the maximum extent of the coverage
available for any such director, officer, employee or agent under such policy or policies, including coverage in the event the Company
does not or cannot, for any reason, indemnify or advance Expenses to Indemnitee as required by this Agreement. If, at the time of the
receipt of a notice of a claim under this Agreement, the Company has director and officer liability insurance in effect, the Company
will give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with
the procedures set forth in the respective policies. Indemnitee agrees to assist the Company efforts to cause the insurers to pay such
amounts and will comply with the terms of such policies, including selection of approved panel counsel, if required.


 


(d)
The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee for any Proceeding concerning Indemnitee’s
Corporate Status with an Enterprise will be reduced by any amount Indemnitee has actually received as indemnification or advancement
of Expenses from the Enterprise. The Company and Indemnitee intend that any such Enterprise (and its insurers) be the indemnitor of first
resort with respect to indemnification and advancement of Expenses for any Proceeding related to or arising from Indemnitee’s Corporate
Status with such Enterprise. The Company’s obligation to indemnify and advance Expenses to Indemnitee is secondary to the obligations
the Enterprise or its insurers owe to Indemnitee. Indemnitee agrees to take all reasonably necessary and desirable action to obtain from
an Enterprise indemnification and advancement of Expenses for any Proceeding related to or arising from Indemnitee’s Corporate
Status with such Enterprise.


 


(e)
In the event of any payment made by the Company under this Agreement, the Company will be subrogated to the extent of such payment to
all of the rights of recovery of Indemnitee from any Enterprise or insurance carrier. Indemnitee will 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.


 


Section
13. Duration of Agreement. This Agreement continues until and terminates five (5) years after the date that Indemnitee ceases
to have a Corporate Status. The rights provided by or granted under this Agreement are binding upon and be enforceable by the parties
hereto and their successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to
all or substantially all of the business or assets of the Company), continue as to an Indemnitee who has ceased to be a director, officer,
employee or agent of the Company or of any other Enterprise, and inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns,
heirs, devisees, executors and administrators and other legal representatives.


 




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Section
14. Severability. If any provision or provisions of this Agreement is held to be invalid, illegal or unenforceable for any reason
whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement will not in any way be affected
or impaired thereby and remain enforceable to the fullest extent permitted by law; (b) such provision or provisions will 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, this Agreement will be construed so as to give effect to the intent manifested thereby.


 


Section
15. Enforcement.


 


(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 of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement
in serving or continuing to serve as a director or officer of the Company.


 


(b)
This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof;
provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation and applicable law,
and is not a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.


 


Section
16. Modification and Waiver. No supplement, modification or amendment of this Agreement is binding unless executed in writing
by the parties hereto. No waiver under this Agreement will be deemed or constitute a waiver of any other provisions of this Agreement
nor will any waiver constitute a continuing waiver.


 


Section
17. Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon becoming aware of any circumstance
that may give rise to a Proceeding covered by this Agreement or upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses
covered hereunder. The failure of Indemnitee to so notify the Company does not relieve the Company of any obligation which it may have
to the Indemnitee under this Agreement or otherwise.


 


Section
18. Notices. All notices, requests, demands and other communications under this Agreement will be in writing and will be deemed
to have been duly given if (a) delivered by hand to the other party, (b) sent by reputable overnight courier to the other party or (c)
sent by facsimile transmission or electronic mail, with confirmation that such communication has been received:


 


(a)
If to Indemnitee, at the address indicated on the signature page of this Agreement, or to another address as Indemnitee communicates
to the Company.


 


(b)
If to the Company to:


 





	 	Name:
    	Nano
    Magic Holdings Inc.
	 	 	 
	 	Address:
    	31601
    Research Park Drive
	 	 	Madison
    Heights, Michigan
	 	 	Attention:
    Chief Executive Officer
	 	 	 
	 	E-mail:
    	__
    with a copy to __


 


or
to another address as the Company communicates to Indemnitee.


 


Section
19. Contribution. To the fullest extent permissible under applicable law, if indemnification provided under this Agreement is
unavailable to Indemnitee, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount paid 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 the proportion that is 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 cause 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).


 




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Section
20. Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties are governed by, and
construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Any action
or Proceeding arising out of or in connection with this Agreement may be brought only in the Delaware Court of Chancery. The parties
consent to submit to the exclusive jurisdiction of the Delaware Court, waive any objection to the laying of venue of any such action
or Proceeding in the Delaware Court, and waive, and agree not to plead or to make, any claim that any such action or Proceeding brought
in the Delaware Court has been brought in an improper or inconvenient forum.


 


Section
21. Counterparts and Signatures. This Agreement may be executed in one or more counterparts, each of which will for all purposes
be deemed to be an original but all of which together constitutes 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. Electronic signatures or
original signatures transmitted by facsimile or other electronic transmission shall be acceptable and shall have the same effect as originals.


 


IN
WITNESS WHEREOF, the parties have signed this Agreement as of the day and year first above written.


 


	NANO
    MAGIC HOLDINGS INC. 	 	INDEMNITEE
	 	 	 
	 	 	 
	By:
    Tom Berman	 	Name:
	Its:
    CEO 	 	Address:
    
	 	 	 
	 	 	Email:
      


 



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