Exhibit 10.13


 


FORM OF INDEMNIFICATION AGREEMENT


 


AGREEMENT, effective as of                       , 2016, between
BeyondSpring Inc., an exempted company incorporated in the Cayman Islands (the “Company”), and                       (the “Indemnitee”).


 


WHEREAS, it is essential to the Company
to retain and attract as directors and officers the most capable persons available;


 


WHEREAS, Indemnitee is a director or officer
of the Company;


 


WHEREAS, both the Company and Indemnitee
recognize the increased risk of litigation and other claims being asserted against directors and officers of public companies;


 


WHEREAS, basic protection against undue
risk of personal liability of directors and officers heretofore has been provided through insurance coverage providing reasonable
protection at reasonable cost, and Indemnitee has relied on the availability of such coverage; but as a result of substantial changes
in the marketplace for such insurance it has become increasingly more difficult to obtain such insurance on terms providing reasonable
protection at reasonable cost;


 


WHEREAS, the amended and restated memorandum
and articles of association of the Company require that every director, alternate director, secretary, assistant secretary or other
officer of the Company (but not including the Company’s auditors) and the personal representatives of the same (each an “Indemnified
Person”) to be indemnified and secured harmless against all actions, proceedings, costs, charges, expenses, losses, damages
or liabilities incurred or sustained by such Indemnified Person, other than by reason of such Indemnified Person’s own dishonesty,
willful default or fraud, in or about the conduct of the Company’s business or affairs or in the execution or discharge of
his duties, powers, authorities or discretions, including without prejudice to the generality of the foregoing, any costs, expenses,
losses or liabilities incurred by such Indemnified Person in defending (whether successfully or otherwise) any civil proceedings
concerning the Company or its affairs in any court whether in the Cayman Islands or elsewhere. and the Indemnitee has been serving
and continues to serve as a director or officer of the Company in part in reliance on such amended and restated memorandum and
articles of association;


 


WHEREAS, in recognition of
Indemnitee’s need for substantial protection against personal liability in order to enhance Indemnitee’s
continued service to the Company in an effective manner, the increasing difficulty in obtaining satisfactory director and
officer liability insurance coverage, and Indemnitee’s reliance on the aforesaid amended and restated memorandum and
articles of association, and in part to provide Indemnitee with specific contractual assurance that the protection promised
by such amended and restated memorandum and articles of association will be available to Indemnitee (regardless of, among
other things, any amendment to or revocation of such amended and restated memorandum and articles of association or any
change in the composition of the Board of Directors or acquisition transaction relating to the Company), the Company wishes
to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent
(whether partial or complete) permitted by law and as set forth in this Agreement, and, to the extent insurance is
maintained, for the continued coverage of Indemnitee under the Company’s directors’ and officers’ liability
insurance policies;


 



    	 



    	 



    




NOW, THEREFORE, in consideration of the
premises and of Indemnitee serving or continuing to serve the Company directly or, at its request, another entity or enterprise,
and intending to be legally bound hereby, the parties hereto agree as follows:


 


1.               
Certain Definitions:


 


(a)               
Affiliate: a Person that directly, or indirectly through one or more intermediaries, controls or is controlled by,
or is under common control with, the Person specified, the term “control” (including the terms “controlling,”
“controlled by” and “under common control with”) meaning the possession, direct or indirect, of the power
to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities,
by contract, or otherwise.


 


 (b)               
Board of Directors: the board of directors of the Company.




 


(c)                Change
in Control: shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended), other than (A) those persons (and their respective Affiliates) who
were stockholders of the Company immediately prior to the consummation of the initial public offering of securities of
the Company, (B) a trustee or other fiduciary holding securities under an employee benefit plan of the Company, or (C) a
corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act),
directly or indirectly, of securities of the Company representing 20% or more of the total voting power represented by the
Company’s then outstanding Voting Securities, or (ii) during any period of two consecutive years, individuals who at the
beginning of such period constitute the Board of Directors and any new director whose election by the Board of Directors or
nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) 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 a majority thereof, or (iii) the stockholders of the
Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation
which would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the
total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company or an
agreement for the sale or disposition by the Company of (in one transaction or a series of transactions) all or substantially
all of the Company’s assets.


 


(d)              
Claim: any threatened, asserted, pending or completed action, suit or proceeding, whether civil, criminal, administrative,
investigative or other, including any arbitration or other alternative dispute resolution mechanism, or any appeal of any kind
thereof, or any inquiry or investigation, in each case whether instituted by (or in the right of) the Company or any other party,
in which Indemnitee was, is, may be or will be involved as a party, witness or otherwise.


 


(e)               
Expenses: include reasonable attorneys’ fees and all other reasonable costs, expenses and obligations paid
or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing
to investigate, defend, be a witness in or participate in, any Claim relating to any Indemnifiable Event.


 


(f)               
Indemnifiable Event: any event or occurrence related to the fact that Indemnitee is or was a director, officer, employee,
agent or fiduciary of the Company, or is or was serving at the request of the Company as a director, officer, employee, trustee,
agent or fiduciary of another company, corporation, partnership, joint venture, employee benefit plan, trust or other entity or
enterprise, or by reason of anything done or not done by Indemnitee in any such capacity.


 



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(g)              
Independent Legal Counsel: an attorney or firm of attorneys, selected in accordance with the provisions of Section
3, who is experienced in the matters of corporate law and who shall not have otherwise performed services for the Company or Indemnitee
within the last five years (other than with respect to matters concerning the rights of Indemnitee under this Agreement, or of
other indemnitees under similar indemnity agreements).


 


(h)              
Person: any corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association,
organization, governmental entity or other entity, or any individual natural person.


 


(i)                
Reviewing Party: any appropriate person or body consisting of a member or members of the Board of Directors or any
other Person or body appointed by the Board of Directors who is not a party to the particular Claim for which Indemnitee is seeking
indemnification, or Independent Legal Counsel.


 


(j)                
Voting Securities: any securities of the Company which vote generally in the election of directors.


 


2.Basic Indemnification Arrangement; Advancement
of Expenses.


 


(a)              
(i) In the event
Indemnitee was, is or becomes a party to or witness or other participant in, or is threatened to be made a party to or
witness or other participant in, a Claim by reason of (or arising in part out of) an Indemnifiable Event, the Company shall
indemnify Indemnitee, or cause such Indemnitee to be indemnified, to the fullest extent permitted by applicable law as soon
as practicable but in any event no later than thirty (30) days after written demand is presented to the Company, against any
and all Expenses, judgments, fines, penalties 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, penalties or amounts paid in
settlement) arising out of or resulting from such Claim, and (ii) if so requested by Indemnitee, the Company shall advance,
or cause to be advanced (within five (5) business days of such request) any and all Expenses to Indemnitee (an “Expense
Advance”). To the fullest extent permitted by applicable law, and subject to Section 2(b)(ii), Indemnitee’s right
to an Expense Advance is absolute and shall not be subject to any prior determination by the Reviewing Party that the
Indemnitee has satisfied any applicable standard of conduct for indemnification.


 


(b)              
Notwithstanding the foregoing, (i) the obligations
of the Company under Section 2(a)(i) shall be subject to the condition that the Reviewing Party shall not have determined (in a
written opinion, in any case in which the Independent Legal Counsel referred to in Section 3 hereof is involved) that Indemnitee
would not be permitted to be indemnified under applicable law, and (ii) the obligation of the Company to make an Expense Advance
pursuant to Section 2(a)(ii) shall be subject to the condition that, if, when and to the extent that the Reviewing Party determines
that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed
by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid (without interest); provided,
however, that if Indemnitee has commenced or thereafter commences legal proceedings in a court of competent jurisdiction to secure
a determination that Indemnitee should be indemnified under applicable law, any determination made by the Reviewing Party that
Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required
to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which
all rights of appeal therefrom have been exhausted or lapsed).


 


(c)              
If there has not been a Change in
Control, the Reviewing Party shall be selected by the Board of Directors, and if there has been such a Change in Control (other
than a Change in Control which has been approved by a majority of the Board of Directors who were directors immediately prior to
such Change in Control), the Reviewing Party shall be the Independent Legal Counsel referred to in Section 3 hereof. If there has
been no determination by the Reviewing Party within thirty (30) days after written demand is presented to the Company or if the
Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in whole or in part under applicable
law, Indemnitee shall have the right to commence litigation in any court in the State of Delaware having subject matter jurisdiction
thereof and in which venue is proper seeking an initial determination by the court or challenging any such determination by the
Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company hereby consents to service
of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive and binding
on the Company and Indemnitee.


 



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3.              
Change in Control.
The Company agrees that if there is a Change in Control of the Company (other than a Change in Control which has been
approved by a majority of the Board of Directors who were directors immediately prior to such Change in Control) then with
respect to all matters thereafter arising concerning the rights of Indemnitee to indemnity payments and Expense Advances
under this Agreement or the Company’s amended and restated memorandum and articles of association now or hereafter in
effect relating to Claims for Indemnifiable Events, the Company shall seek legal advice only from Independent Legal Counsel
selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld). Such counsel, among
other things, shall render its written opinion to the Company and Indemnitee as to whether and to what extent the Indemnitee
would be permitted to be indemnified under applicable law. The Company agrees to pay the reasonable fees of the Independent
Legal Counsel referred to above and to indemnify fully such counsel against any and all expenses (including attorneys’
fees), claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.


 


4.              
Indemnification for Additional Expenses. The
Company shall indemnify Indemnitee, or cause Indemnitee to be indemnified, against any and all expenses (including attorneys’
fees) and, if requested by Indemnitee, shall (within five (5) business days of such request) advance such expenses to Indemnitee,
which are incurred by Indemnitee in connection with any action brought by Indemnitee for (i) indemnification or advance payment
of Expenses by the Company under this Agreement or the Company’s amended and restated memorandum and articles of association
now or hereafter in effect relating to Claims for Indemnifiable Events and/or (ii) recovery under any directors’ and officers’
liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled
to such indemnification, advance expense payment or insurance recovery, as the case may be; provided, however, that Indemnitee
shall be required to reimburse such expenses in the event that a final judicial determination is made (as to which all rights of
appeal therefrom have been exhausted or lapsed) that such action brought by Indemnitee was frivolous or in bad faith. Except as
set forth above in this paragraph, Indemnitee shall not be entitled to indemnification or advancement of expenses pursuant to this
Agreement in connection with any Claim initiated by Indemnitee.


 


5.              
Partial Indemnity, Etc. If Indemnitee is entitled
under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, fines,
penalties and amounts paid in settlement arising out of or resulting from a Claim but not, however, for the entire amount thereof,
the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. Moreover, notwithstanding
any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in defense
of any or all Claims relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, including
dismissal without prejudice, Indemnitee shall be indemnified against all Expenses incurred in connection therewith.


 


6.              
Burden of Proof. In connection with any determination
by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified hereunder the burden of proof shall
be on the Company to establish that Indemnitee is not so entitled.


 


7.              
No Presumptions. For
purposes of this Agreement, the termination of any claim, action, suit or proceeding, by judgment, order, settlement (whether
with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a
presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has
determined that indemnification is not permitted by applicable law. In addition, neither the failure of the Reviewing Party
to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular
belief, nor an actual determination by the Reviewing Party that Indemnitee has not met such standard of conduct or did not
have such belief, prior to the commencement of legal proceedings by Indemnitee to secure a judicial determination that
Indemnitee should be indemnified under applicable law shall be a defense to Indemnitee’s claim or create a presumption
that Indemnitee has not met any particular standard of conduct or did not have any particular belief.


 



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8.              
Nonexclusivity, Etc. The rights of the Indemnitee
hereunder shall be in addition to any other rights Indemnitee may have under the Company’s amended and restated memorandum
and articles of association, the applicable law or otherwise. To the extent that a change in applicable law (whether by statute
or judicial decision) permits greater indemnification by agreement than would be afforded currently under the Company’s amended
and restated memorandum and articles of association and this Agreement, it is the intent of the parties hereto that Indemnitee
shall enjoy by this Agreement the greater benefits so afforded by such change. To the extent that there is a conflict or inconsistency
between the terms of this Agreement and the Company’s amended and restated memorandum and articles of association, it is
the intent of the parties hereto that the Indemnitee shall enjoy the greater benefits regardless of whether contained herein or
in the Company’s amended and restated memorandum and articles of association. No amendment or alteration of the Company’s
amended and restated memorandum and articles of association or any other agreement shall adversely affect the rights provided to
the Indemnitee under this Agreement.


 


9.              
Liability Insurance. To the extent the Company
maintains an insurance policy or policies providing directors’ and officers’ liability insurance, Indemnitee shall
be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for
any Company director or officer.


 


10.             Period of Limitations. No legal action shall
be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s spouse,
heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause
of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely
filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise
applicable to any such cause of action such shorter period shall govern.


 


11.              Amendments, Etc. No supplement, modification
or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar)
nor shall such waiver constitute a continuing waiver.


 


12.              Subrogation. In the event of 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 shall do everything that may be necessary to secure such rights, including the execution
of such documents necessary to enable the Company effectively to bring suit to enforce such rights.


 


13.              No Duplication of Payments. The Company shall
not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee
has otherwise actually received payment (under any insurance policy, By-law or otherwise) of the amounts otherwise indemnifiable
hereunder.


 


14.              Binding Effect, Etc. This Agreement shall
be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (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), assigns, spouses, heirs, executors and personal and legal representatives. This Agreement shall continue
in effect regardless of whether Indemnitee continues to serve as an officer or director of the Company or of any other entity or
enterprise at the Company’s request.


 


15.              Severability. The provisions of this Agreement
shall be severable in the event that any of the provisions hereof (including any provision within a single section, paragraph or
sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable in any respect, and the
validity and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in
any way impaired and shall remain enforceable to the fullest extent permitted by law.


 



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16.               Notices. All notices, requests,
consents and other communications hereunder to any party shall be deemed to be sufficient if contained in a written document delivered
in person or sent by email or facsimile, nationally recognized overnight courier or personal delivery, addressed to such party
at the address set forth below or such other address as may hereafter be designated on the signature pages of this Agreement or
in writing by such party to the other parties:


 


(a)       
If to the Company, to:


 


BeyondSpring Inc. 


28 Liberty Street, 39th Floor 


New York, NY 10005 


Attention:

Chief Financial Officer


 


with copies (which shall not constitute notice) to:


 


Skadden, Arps, Slate, Meagher & Flom LLP 


Four Times Square 


New York, NY 10036 


Attention: Andrea Nicolas 


Email: andrea.nicolas@skadden.com


 


(b)       
If to the Indemnitee, to the address set forth on Annex A hereto.


 


All such notices, requests, consents and other communications
shall be deemed to have been given or made if and when received (including by overnight courier) by the parties at the above addresses,
email addresses or sent by electronic transmission, with confirmation received, to the facsimile numbers specified above (or at
such other address, email address or facsimile number for a party as shall be specified by like notice). Any notice delivered by
any party hereto to any other party hereto shall also be delivered to each other party hereto simultaneously with delivery to the
first party receiving such notice.


 


16.               Counterparts. This Agreement
may be executed in 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.


 


17.               Governing Law. This Agreement shall be governed
by and construed and enforced in accordance with the laws of the State of Delaware applicable to contracts made and to be performed
in such state without giving effect to principles of conflicts of laws.


 



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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement this [Date] day of [Month], 2016.


 


	 	BEYONDSPRING INC.	 
	 	 	 	 
	 	By	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 
	 	 	 	 
	 	 	 
	 	                      , as indemnitee	 









 



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Annex A


 


Address for Notices to Indemnitee