Document:

EX-10.16

 Exhibit 10.16 

Xiaopeng Brand Vehicle Distribution Agreement 

Agreement No.: (HMC) JX-2017-001 

Execution Date: March 31, 2017 
 Party A:
Haima Automobile Co., Ltd. 
 Address: No. 1689, Hanghai East Road, Zhengzhou Economic and Technological Development Zone 450016 

Tel.: ************ 
 Party B: Guangzhou Xiaopeng Motors
Technology Co., Ltd. 
 Address: Floor 3, Building B7, No. 11, Kaiyuan Avenue, Science City, Guangzhou New and High-Tech Development Zone 510530

 Tel.: ************ 
 Whereas, 

In accordance with the Xiaopeng Brand Vehicle Cooperative Manufacturing Agreement entered into between Party A and Party B, Party B is the general distributor
of Party A’s XPeng Motor products (the “Products”) and Party A authorizes Party B to act as the general distributor of the Products. 
 Based
on the principles of good faith, equality and mutual benefits, sincere cooperation and mutual development, the parties enter into the following agreement through friendly consultation for mutual observance. 

 

	I.	 General Distribution Authorization 

 

	1.	 Party A authorizes Party B as the general distributor of all the Products and Party B enjoys the exclusive
distribution right of the Products. During performance of this Agreement, Party A may not authorize any other third party to distribute the Products, and undertakes that it will not sell the Products on its own. 

 

	2.	 As the general distributor of the Products, Party B will, at its sole discretion, conduct business activities,
including sales, post-sales service of the Products, providing repair service to customers of the Products, and expanding market share and brand awareness of the Products. Party B is responsible for establishing its own sales system, and has the
right to develop its own distributors and service outlets. 

  

	3.	 Party B’s business activities must be in compliance with law and respect customers in its service. Party B
bears full responsibility for post-sales service (including three guarantees, claims and recalls, etc.) of the Products. Party A shall be liable for quality problems and expenses caused by its manufacturing of the Products, and other expenses shall
be borne by Party B. Party A has the right to deduct such expenses directly from transactions between the parties, and Party B has no objection thereto. 

	4.	 Party A sells the Products to Party B at the general distribution price. The gap between the market retail
price and general distribution price of the Products includes expenses for sales outlets, advertising, compensation for new store setup, post-sales service, three-guarantees, financial subsidies and other sales expenses, etc. 

 

	5.	 Market feedback problems of the Products shall be handled by Party B, and Party A shall assist Party B in
tracing and handling inventory, manufacturing process and related parts. 

  

	II.	 Payment and Method of Settlement 

 

	(I)	 Payment for the Products 

 

	1.	 Party A shall provide qualified Products to Party B, and Party B shall pay to Party A (including ***% of VAT).
The parties shall otherwise agree on the general distribution price. 

  

	2.	 Party B will pay for the Products to Party A in 2 installments. Party B will notify Party A of the quantity in
the order plan of the Products before the 15th day of each month, and the parties will determine the order plan within 5 working days after mutual consultation. Party B will, based on the order quantity of the order determined by the parties, make
the advance payment corresponding to the order quantity through direct T/T (bank’s acceptance bill is not accepted) to Party A within *** days, in which ***% is the down payment, and the parties will otherwise agree on advance payment for each
set. After Party A delivers the Products to Party B, Party B will, based on the delivery procedures of the Products signed and confirmed by both parties on the 26th day of each month, make the remaining payment corresponding to the delivery quantity
through direct T/T (bank’s acceptance bill is not accepted) to Party A within *** days. 

  

	(II)	 Electric Vehicle Subsidies 

 

	1.	 Electric vehicle subsidies from manufacturing and sales of the Products will be collected and then paid to
Party B by Party A. 

  

	2.	 When the electric vehicle subsidies of the Products that Party A receives from the government and related
authorities arrive at the account of Party A, it shall give the arrival information to Party B in the month. After confirmation by the parties, Party A shall make all the payments to Party B through T/T (bank’s acceptance bill is not accepted)
before the *** day of the next month. 

  

	3.	 Party B shall issue the corresponding receipt to Party A within 3 working days at receiving the abovementioned
payment. 

  

	(III)	 Other Expenses 

  

	(1)	 If Party B commissions Party A with vehicle logistics, testing and other businesses of the Products, the
expenses incurred will be borne by Party B, and the parties will otherwise agree on the amount through consultation. 

	(2)	 For electric vehicle credits and related income from producing the Products, the parties will otherwise reach
an agreement through consultation. 

  

	III.	 Liability for Breach of Agreement 

 

	1.	 Party B shall inspect, accept and ship the Products in a timely manner. If the Products are not delivered or
shipped for a long time due to Party B’s reason, Party B shall compensate Party A for losses on storage and maintenance incurred therefrom. 

  

	2.	 If Party A does not deliver the Products by the time and quality as the agreed order plan and does not reach
consensus with Party B concerning the delay in advance, Party A shall compensate Party B for losses incurred therefrom. 

  

	3.	 Party B has the right to refuse inspection and acceptance of the Products manufactured by Party A in advance
without consent from Party B; Party A has the right to refuse Party B’s demand for manufacturing the Products in advance without consent from Party A. 

  

	4.	 If an order is cancelled due to the reason of Party B, Party A, in principle, will not return the down payment
made by Party B, except otherwise agreed by the parties through consultation. 

  

	5.	 Both parties shall make relevant payments to each other in time and in full. For overdue payments, the
breaching party shall pay liquidated damages to the abiding party in accordance with provisions of the People’s Bank of China on overdue payments. 

  

	IV.	 Term of this Agreement 

The Agreement is valid from its execution date to December 31, 2021. 

The parties may renew this Agreement on expiry. 
  

	V.	 Force Majeure 

In case of war, riot, natural disaster or other force majeure events during performance of this Agreement that cause this Agreement unable to
perform, the parties shall timely consult with each other for emergency measures. If a force majeure event occurs to either party, the party shall notify the other party within 15 working days. 

 

	VI.	 Amendment to this Agreement 

 

	1.	 If this Agreement needs to be amended during its performance, the parties shall reach consensus and enter into
a written agreement. Unless this Agreement is terminated by law or by agreement between the parties, neither party may unilaterally amend or terminate this Agreement. 

	2.	 After this Agreement takes effect, without the written consent from the other party, neither party may transfer
all or part of creditor’s rights under the agreement to any third party. 

  

	VII.	 Dispute Resolution 

Laws of the People’s Republic of China shall apply to validity, interpretation, performance, enforcement and dispute resolution of this
Agreement. All disputes from performance of this Agreement or related to this Agreement shall be first resolved through consultation. If the parties refuse consultation or the consultation fails, the parties may submit the dispute to Zhengzhou
Arbitration Commission for resolution. The award of the arbitration shall be final, which is legally binding on both parties. During the period of dispute resolution, the parties shall continue to perform other obligations in this Agreement than the
matter in dispute. 
  

	VIII.	 Supplementary Provisions 

 

	1.	 In case of inconsistency between terms of this Agreement and terms of other contracts/agreements/bonds, terms
of this Agreement shall prevail. 

  

	2.	 With respect to matters not covered by this Agreement, the parties may otherwise enter into written agreements
as appendixes of this Agreement. Any appendix, amendment or addition of this Agreement composes an indivisible part of this Agreement and carries the same legal effect with this Agreement. 

 

	3.	 The Agreement is made in quadruplicate, with each party holding two copies, each with the same legal force. The
Agreement comes into force as from the day that the parties and their authorized representatives sign and seal (the official seal or special seal for contract) this Agreement. 

 [Signature page of the Xiaopeng Brand Vehicle Distribution Agreement between Haima Automobile Co., Ltd. and
Guangzhou Xiaopeng Motors Technology Co., Ltd. follows] 
  

			
	Guangzhou Xiaopeng Motors Technology Co., Ltd.	  	Haima Automobile Co., Ltd
		
	(Seal)	  	(Seal)
		
	[Company seal is affixed here]	  	[Company seal is affixed here]
		
	 Authorized Representative (Signature):
  

/s/ Heng Xia
	  	Authorized Representative (Signature):EX-10.1

 Exhibit 10.1 
  

 
 Date: August 5, 2020 

Private and Confidential 

To: Boris Vaynberg 
 Dear Boris, 

This is a release and separation agreement in connection with the end of your employment with Venus Concept Ltd. (the
“Company”). 
  

	 	1.	 Following the hearing meeting in which you participated on July 8, 2020 the Company has decided to
terminate your employment. 

  

	 	2.	 Your employment will end effective today, July 9, 2020 (the “Separation Date”). Soon
after the Separation Date, you shall receive from the Company, subject to Employees providing any required information under applicable laws, and applicable statutory and tax deductions and withholdings, the following: 

 

	 	a.	 No later than, August 10, 2020, release letters for all severance and pension funds / policies under
your name, all with payments up to date till the Separation Date. 

  

	 	b.	 No later than, August 10, 2020, release letter for the Advanced Study Fund in your name with payments
up to date till the Separation Date. 

  

	 	3.	 Subject to the terms set forth below, by no later than August 10, 2020, you shall receive the sum of NIS
950,413.62 (gross) from which the applicable taxes shall be deducted that shall include the payments due to you as follows - 

  

	 	a.	 Gross payment of your salary and travel expenses until the Separation Date in the sum of NIS 25,213.

  

	 	b.	 Gross payment for your accrued vacation days in the sum of NIS 120,671.56 

 

	 	c.	 Gross payment of severance pay due to you for the period starting March 1, 2013 until January 1,
2016 in the sum of NIS 70,087.06. 

  

	 	d.	 Gross payment of Dmei Havra in the sum of NIS 2,427. 

 

	 	e.	 Subject to your execution of the waiver and release of claims set forth in Sections 6 and 7 of this notice,
payment in lieu of 9 months’ notice period in the sum of NIS 732,015. 

  

	 	4.	 All payments shall be paid to you in accordance with the Company’s standard payment procedures and
dates and applicable law. 

  

	 	5.	 Your stock options to purchase 110,888 shares of Common Stock which are fully vested (collectively, the
“Stock Options”) shall be exercisable for 180 days as of the Separation Date. The Company retains I.B.I Trust Management “IBI” as Stock Options Trustee for the benefit of all Israeli optionees. and you shall be able to
exercise the Stock Options and sell shares, subject to SEC rules apply on such exercise and sale of Stock Options. The Company will provide you with contact information for IBI upon your request. The Stock Options are exercisable and the exercise
and trade of the Stock 

 Options shall be in accordance with the terms of the grant letters,
Company’s Stock Option Plan and the requirements of all applicable securities laws, including but not limited to SEC rules and regulations. For the first 90 days following your termination, you are deemed to be an affiliate of the Company and
any exercise and/or trade of options must be in compliance with Securities Act and Rule 144, if applicable, during that time This letter shall not be deemed as providing any legal or tax advise with respect to the exercise of your Stock Options. You
are hereby advised to seek outside counsel from tax, legal and/or other advisors regarding the exercise and sell of your Stock Options. 
  

	 	6.	 You acknowledge and certify that subject to receipt of the release letters and payments set forth above and
the ability to exercise and sell the Stock Options subject to the terms of Section 5 above, you have received all rights, compensation and consideration due to you in connection with your employment with the Company and the termination of such
employment, under your employment agreement, any other agreement, understanding or obligation of the Company, and any applicable law, regulation, collective agreement (“Heskem Kibutzi”), collective arrangement (“Hesder Kibutzi”)
or custom, including, without limitations, all salaries, compensation for overtime, severance pay, accrued vacation, sick leave, Dmei Havraa, prior notice term, commissions, bonuses, incentive plans, royalties, compensation of any kind, or any other
rights in connection with your employment and your termination of your employment with the Company. 

  

	 	7.	 You, for yourself and for your heirs, representatives, executors, administrators and assigns, hereby
voluntarily and knowingly waive, release and forever discharge the Company, Venus Concept Inc., its subsidiaries, affiliates, and their respective predecessors, successors, assigns, affiliates, employees, managers, officers and directors, in their
individual and representative capacities (collectively, the “Released Parties”), from any and all actions, claims, demands, causes of action, obligations, damages, liabilities, expenses and controversies of any kind, nature and
description whatsoever, whether or not now known, suspected or claimed, which you had, have, or may have, against the Released Parties, relate to or are based on, your employment with the Company and your termination of your employment. You further
acknowledge that the terms of this Agreement constitute sufficient and adequate consideration for this release and waiver. Notwithstanding the above, the said release shall not apply in the event of any claim against you by the Company and in the
event of any such claim, you shall be entitled to file any counter claim and/or third party notice to the Company and/or any other claim necessary for your defence, at your discretion. 

 

	 	8.	 You hereby acknowledge and reaffirm your covenants and obligations under Appendix A of the Employment
Agreement (the “Confidentiality and IP Undertakings Agreement”), which shall remain in full force and effect in accordance with its terms. 

	 	9.	 You shall return to the Company on or as soon as possible after Separation Date all property of the Company,
Venus Concept Inc., and their respective subsidiaries and affiliates that is in your custody or control, including without limitation, any documents, whether or not such documents contain confidential or proprietary information, keys and security
access cards to the Company’s offices, employee badge, laptop, laptop charger, token, backpack, cellphone, Company credit card telephone charges, cellular phone and/or wireless data accounts and computer accounts. In addition, you agree to
transfer to the Company (including upon request by the representatives of the Company) any and all information associated with your position, such as passwords, contact persons names etc. 

 

	 	10.	 You agree to refrain from any defamation, slander of the Company and the Released Parties.

  

	 	11.	 During a period of three months as of the date hereof, You agree to provide any reasonable assistance to the
Company to ensure the smooth transition of your position and outstanding work to the Company, provided such shall be by telephone consultation and/or meeting in Israel and shall not exceed 3 working days in aggregate. 

 

	 	12.	 This Agreement shall be governed by the laws of the State of Israel, without regard to its conflict of laws
provisions, and the competent courts in Tel Aviv shall have exclusive jurisdiction upon any dispute in connection with this Agreement. 

  

	 	13.	 This Agreement sets forth the entire agreement between you and the Company, Venus Concept Inc and its
subsidiaries and affiliates and supersedes any prior agreement or understanding, whether written or oral. This Agreement may only be modified in writing signed by both parties. 

 

	 	14.	 This Agreement also constitutes a waiver and settlement notice under Section 29 to the Severance Pay
Law, 1963. 

  

	 	15.	 You confirm that before you signed this Agreement you consulted with, or had the opportunity to consult
with, a lawyer regarding all matters connected with the termination of your employment with the Company and this Agreement. 

We thank you for the work that you performed for the Company and we wish you success in the future. 

Venus Concept Ltd. 

Signature: /s/ Domenic
Serafino                 
 Name and
Title: Domenic Serafino, Chief Executive Officer 

 I voluntarily agree to and accept the terms set forth above. 

Signature: /s/ Boris
Vaynberg                 
 Name:
Boris Vaynberg

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