Exhibit 10.1


 


 


CHINA BIOLOGIC PRODUCTS, INC.


AMENDED AND RESTATED DIRECTOR AGREEMENT


 


THIS AGREEMENT (this “Agreement”)
is made as of the 22rd day of February, 2016 and is by and between China Biologic Products, Inc., a Delaware corporation (the “Company”),
and Mr. David Li (the “Director”).


 


BACKGROUND


 


The Director and the
Company entered into a director agreement (the “Original Agreement”) dated November 7, 2013 in connection with
the appointment of the Director to fill an existing vacancy and to have the Director perform the duties of a director.


 


The Director and the
Company desire to enter into this Agreement to amend and restate the Original Agreement in its entirety.


 


AGREEMENT


 


In consideration for
the above recited promises and the mutual promises contained herein, the adequacy and sufficiency of which are hereby acknowledged,
the Company and the Director hereby agree as follows:


 


1.           DUTIES.
The Company requires that the Director be available to perform the duties of a director customarily related to this function as
may be determined and assigned by the Board of Directors of the Company (the “Board”) and as may be required
by the Company’s constituent instruments, including its certificate or articles of incorporation, bylaws and its corporate
governance and board committee charters, each as amended or modified from time to time, and by applicable law, including by the
Delaware General Corporation Law (the “DGCL”). The Director agrees to devote as much time as is necessary to
perform completely the duties as the Director of the Company. The Director will perform such duties described herein in accordance
with the general fiduciary duty of directors arising under the DGCL.


 


2.           TERM.
The term of this Agreement shall commence as of the date of the Director’s appointment by the Board and shall continue until
the Director’s removal or resignation.


 


3.           COMPENSATION.
For all services to be rendered by the Director in any capacity hereunder, the Company agrees to pay the Director a fee of $5,000
per month. Such fee may be adjusted from time to time as agreed by the parties. Subject to approval by the Board (or an appropriate
committee appointed thereby), the Director will also be granted 5,000 shares of the Company’s
restricted stock (the “Granted Stock”), under the Company’s 2008 Equity Incentive Plan (the “Plan”),
which will vest in two equal portions over 24 months with the fist portion vesting on February 23, 2017 and the second on February
23, 2018. The Granted Stock will be evidenced by a Restricted Stock Agreement as contemplated by the Plan, in the form attached
hereto as Exhibit A. Both the Plan and the Restricted Stock Agreement will govern the terms and conditions of the Granted
Stock, notwithstanding any other provision of this Agreement.  


 






    	 	 	 



     

    

 


4.           EXPENSES.
In addition to the compensation provided in paragraph 3 hereof, the Company will reimburse the Director for pre-approved reasonable
business related expenses incurred in good faith in the performance of the Director’s duties for the Company. Such payments
shall be made by the Company upon submission by the Director of a signed statement itemizing the expenses incurred. Such statement
shall be accompanied by sufficient documentary matter to support the expenditures.


 


5.           CONFIDENTIALITY.
The Company and the Director each acknowledge that, in order for the intents and purposes of this Agreement to be accomplished,
the Director shall necessarily be obtaining access to certain confidential information concerning the Company and its affairs,
including, but not limited to business methods, information systems, financial data and strategic plans which are unique assets
of the Company (“Confidential Information”). The Director covenants not to, either directly or indirectly,
in any manner, utilize or disclose to any person, firm, corporation, association or other entity any Confidential Information.


 


6.           NON-COMPETE.
During the term of this Agreement (the “Restricted Period”), the Director shall not, directly or indirectly,
(i) in any manner whatsoever engage in any capacity with any business competitive with the Company’s current lines of business
or any business then engaged in by the Company, any of its subsidiaries or any of its affiliates (the “Company's Business”)
for the Director’s own benefit or for the benefit of any person or entity other than the Company or any subsidiary or affiliate;
or (ii) have any interest as owner, sole proprietor, shareholder, partner, lender, director, officer, manager, employee, consultant,
agent or otherwise in any business competitive with the Company's Business; provided, however, that the Director
may hold, directly or indirectly, solely as an investment, not more than two percent (2%) of the outstanding securities of any
person or entity which are listed on any national securities exchange or regularly traded in the over-the-counter market notwithstanding
the fact that such person or entity is engaged in a business competitive with the Company's Business. In addition, during the
Restricted Period, the Director shall not develop any property for use in the Company’s Business on behalf of any person
or entity other than the Company, its subsidiaries and affiliates.


 


7.           TERMINATION.
With or without cause, the Company and the Director may each terminate this Agreement at any time upon ten (10) days written notice,
and the Company shall be obligated to pay to the Director the compensation and expenses due up to the date of the termination.
Nothing contained herein or omitted herefrom shall prevent the shareholder(s) of the Company from removing the Director with immediate
effect at any time for any reason.


 


8.           INDEMNIFICATION.
The Company shall indemnify, defend and hold harmless the Director, to the full extent allowed by the law of the State of Delaware,
and as provided by, or granted pursuant to, any charter provision, bylaw provision, agreement (including, without limitation,
the Indemnification Agreement executed herewith), vote of stockholders or disinterested directors or otherwise, both as to action
in the Director’s official capacity and as to action in another capacity while holding such office. The Company and the
Director are executing the Indemnification Agreement in the form attached hereto as Exhibit B.


 






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9.           EFFECT
OF WAIVER. The waiver by either party of the breach of any provision of this Agreement shall not operate as or be construed
as a waiver of any subsequent breach thereof.


 


10.         NOTICE.
Any and all notices referred to herein shall be sufficient if furnished in writing at the addresses specified on the signature
page hereto or, if to the Company, to the Company’s address as specified in filings made by the Company with the U.S. Securities
and Exchange Commission and if by fax to +8610 6598 3222.


 


11.         GOVERNING
LAW. This Agreement shall be interpreted in accordance with, and the rights of the parties hereto shall be determined by,
the laws of the State of New York without reference to that state’s conflicts of laws principles.


 


12.         ASSIGNMENT.
The rights and benefits of the Company under this Agreement shall be transferable, and all the covenants and agreements hereunder
shall inure to the benefit of, and be enforceable by or against, its successors and assigns. The duties and obligations of the
Director under this Agreement are personal and therefore the Director may not assign any right or duty under this Agreement without
the prior written consent of the Company.


 


13.         MISCELLANEOUS.
If any provision of this Agreement shall be declared invalid or illegal, for any reason whatsoever, then, notwithstanding such
invalidity or illegality, the remaining terms and provisions of the this Agreement shall remain in full force and effect in the
same manner as if the invalid or illegal provision had not been contained herein.


 


14.         ARTICLE HEADINGS.
The article headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.


 


15.         COUNTERPARTS.
This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument. Facsimile
execution and delivery of this Agreement is legal, valid and binding for all purposes.


 


16.         ENTIRE AGREEMENT.
Except as provided elsewhere herein, this Agreement sets forth the entire agreement of the parties with respect to its subject
matter and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties,
whether oral or written, by any officer, employee or representative of any party to this Agreement with respect to such subject
matter.


 


 


 


[Signature Page Follows]




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IN WITNESS WHEREOF,
the parties hereto have caused this Director Agreement to be duly executed and signed as of the day and year first above written.


 


 


	 	CHINA BIOLOGIC PRODUCTS, INC.
	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	     /s/
    David Gao	 
	 	Name: David Gao
	 	Title: Chairman & Chief Executive Officer
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	DIRECTOR
	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	     /s/
    David Li	 
	 	Name: David Li
	 	 	 	 	 
	 	Address:	 




 


 




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EXHIBIT A


 


Form of Restricted Stock Agreement



 


(See Attached)


 


 




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EXHIBIT B


 


Form of Indemnification Agreement


 


(See Attached)


 


 



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