Document:

Stock Option Plan adpoted on November 1, 2003

 Exhibit 4.4 
 SINOVAC BIOTECH LTD. 
 STOCK OPTION PLAN 
 This stock option plan (the “Plan”) is adopted in consideration of services rendered and to be rendered by key personnel to Sinovac
Biotech Ltd., its subsidiaries and affiliates. 
 1. Definitions. 
 The terms used in this Plan shall, unless otherwise indicated or required by the particular context, have the following meanings: 
  

			
	Board:	  	The Board of Directors of Sinovac Biotech Ltd.
		
	Common Stock:	  	The U.S. $0.001 par value common stock of Sinovac Biotech Ltd.
		
	Company:	  	Sinovac Biotech Ltd., a company incorporated under the International Business Corporations Act of Antigua and Barbuda, and any successors in interest by merger, operation of law, assignment
or purchase of all or substantially all of the property, assets or business of the Company.
		
	Date of Grant:	  	The date on which an Option (see hereinbelow) is granted under the Plan.
		
	Fair Market Value:	  	The Fair Market Value of the Option Shares. Such Fair Market Value as of any date shall be reasonably determined by the Board; provided, however, that if there is a public market for the
Common Stock, the Fair Market Value of the Option Shares as of any date shall not be less than the closing price for the Common Stock on the last trading day preceding the date of grant; provided, further, that if the Company’s shares are not
listed on any exchange the Fair Market Value of such shares shall not be less than the average of the means between the bid and asked prices quoted on each such date by any two independent persons or entities making a market for the Common Stock,
such persons or entities to be selected by the Board. Fair Market Value shall be determined without regard to any restriction other than a restriction which, by its terms, will never lapse.

			
	Incentive Stock Option:	  	An Option as described in Section 9 hereinbelow intended to qualify under section 422 of the United States Internal Revenue Code of 1986, as amended.
		
	Key Person:	  	A person designated by the Board upon whose judgment, initiative and efforts the Company or a Related Company may rely, who shall include any Director, Officer, employee or consultant of the
Company. A Key Person may include a corporation that is wholly-owned and controlled by a Key Person who is eligible for an Option grant, but in no other case may the Company grant an option to a legal entity other than an
individual.
		
	Option:	  	The rights granted to a Key Person to purchase Common Stock pursuant to the terms and conditions of an Option Agreement (see hereinbelow).
		
	Option Agreement:	  	The written agreement (and any amendment or supplement thereto) between the Company and a Key Person designating the terms and conditions of an Option.
		
	Option Shares:	  	The shares of Common Stock underlying an Option granted to a Key Person.
		
	Optionee:	  	A Key Person who has been granted an Option.
		
	Related Company:	  	Any subsidiary or affiliate of the Company or of any subsidiary of the Company. The determination of whether a corporation is a Related Company shall be made without regard to whether the entity
or the relationship between the entity and the Company now exists or comes into existence hereafter.

 2. Purpose and scope. 
  

	 	(a)	The purpose of the Plan is to advance the interests of the Company and its stockholders by affording Key Persons, upon whose judgment, initiative and efforts the Company may rely
for the successful conduct of their businesses an opportunity for investment in the Company and the incentive advantages inherent in stock ownership in the Company. 

  

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	 	(b)	This Plan authorizes the Board to grant Options to purchase shares of Common Stock to Key Persons selected by the Board while considering criteria such as employment position or
other relationship with the Company, duties and responsibilities, ability, productivity, length of service or association, morale, interest in the Company, recommendations by supervisors and other matters. 

 3. Administration of the Plan. 
 The
Plan shall be administered by the Board. The Board shall have the authority granted to it under this section and under each other section of the Plan. 
 In accordance with and subject to the provisions of the Plan, the Board is hereby authorized to provide for the granting, vesting, exercise and method of exercise of any Options all on such terms (which may vary
between Options and Optionees granted from time to time) as the Board shall determine. In addition, and without limiting the generality of the foregoing, the Board shall select the Optionees and shall determine: (i) the number of shares of
Common Stock to be subject to each Option, however, in no event may the maximum number of shares reserved for any one individual exceed 10% of the issued and outstanding share capital of the Company; (ii) the time at which each Option is to be
granted; (iii) the purchase price for the Option Shares; (iv) the Option period; and (v) the manner in which the Option becomes exercisable or terminated. In addition, the Board shall fix such other terms of each Option as it may deem
necessary or desirable. The Board may determine the form of Option Agreement to evidence each Option. 
 The Board from time to time may
adopt such rules and regulations for carrying out the purposes of the Plan as it may deem proper and in the best interests of the Company subject to the rules and policies of any exchange or over-the-counter market which is applicable to the
Company. 
 The Board may from time to time make such changes in and additions to the Plan as it may deem proper, subject to the prior
approval of any exchange or over-the-counter market which is applicable to the Company, and in the best interests of the Company; provided, however, that no such change or addition shall impair any Option previously granted under the Plan. If the
shares are not listed on any exchange, then such approval is not necessary. 
 Each determination, interpretation or other action made or
taken by the Board shall be final, conclusive and binding on all persons, including without limitation, the Company, the stockholders, directors, officers and employees of the Company and the Related Companies, and the Optionees and their respective
successors in interest. 
  

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 4. The Common Stock. 
 Save and except as may be determined by the Board at a duly constituted meeting of the Board as set forth hereinbelow, the Board is presently authorized to appropriate, grant Options, issue and sell for the purposes
of the Plan, a total number of shares of the Company’s Common Stock not to exceed 5,000,000, or the number and kind of shares of Common Stock or other securities which in accordance with Section 10 shall be substituted for the shares or
into which such shares shall be adjusted. Save and except as may otherwise be determined by the disinterested approval of the shareholders of the Company at any duly called meeting of the shareholders of the Company, at any duly constituted Board
meeting the Board may determine that the total number of shares of the Company’s Common Stock which may be reserved for issuance for Options granted and to be granted under this Plan, from time to time, may be to the maximum extent of up to 20%
of the Company’s issued and outstanding Common Stock as at the date of any such meeting of the Board. In this regard, and subject to the prior disinterested approval of the shareholders of the Company at any duly called meeting of the
shareholders of the Company, the total number of shares of the Company’s Common Stock which may be reserved for issuance for Options granted and to be granted under this Plan, from time to time, may be increased to greater than 20% of the
Company’s issued and outstanding Common Stock as at the date of notice of any such meeting of the shareholders of the Company whereat such disinterested shareholders’ approval is sought and obtained by the Company. All or any unissued
shares subject to an Option that for any reason expires or otherwise terminates may again be made subject to Options under the Plan. 
 5.
Eligibility. 
 Options will be granted only to Key Persons. Key Persons may hold more than one Option under the Plan and may hold
Options under the Plan and options granted pursuant to other plans or otherwise. 
 6. Option Price and number of Option Shares.

 The Board shall, at the time an Option is granted under this Plan, fix and determine the exercise price at which Option Shares may be
acquired upon the exercise of such Option; provided, however, that any such exercise price shall not be less than that, from time to time, permitted under the rules and policies of any exchange or over-the-counter market which is applicable to the
Company. 
 The number of Option Shares that may be acquired under an Option granted to an Optionee under this Plan shall be determined by
the Board as at the time the Option is granted; provided, however, that the aggregate number of Option Shares reserved for issuance to any one Optionee under this Plan, or any other plan of the Company, shall not exceed 10% of the total number of
issued and outstanding Common Stock of the Company. 
  

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 7. Duration, vesting and exercise of Options. 
  

	 	(a)	The option period shall commence on the Date of Grant and shall be up to 10 years in length subject to the limitations in this Section 7 and the Option Agreement.

  

	 	(b)	During the lifetime of the Optionee the Option shall be exercisable only by the Optionee. Subject to the limitations in paragraph (a) hereinabove, any Option held by an
Optionee at the time of his death may be exercised by his estate within one year of his death or such longer period as the Board may determine. 

  

	 	(c)	The Board may determine whether an Option shall be exercisable at any time during the option period as provided in paragraph (a) of this Section 7 or whether the Option
shall be exercisable in installments or by vesting only. If the Board determines the latter it shall determine the number of installments or vesting provisions and the percentage of the Option exercisable at each installment or vesting date. In
addition, all such installments or vesting shall be cumulative. In this regard the Company will be subject, at all times, to any rules and policies of any exchange or over-the-counter market which is applicable to the Company and respecting any such
required installment or vesting provisions for certain or all Optionees. 

  

	 	(d)	In the case of an Optionee who is a director or officer of the Company or a Related Company, if, for any reason (other than death or removal by the Company or a Related Company),
the Optionee ceases to serve in that position for either the Company or a Related Company, any option held by the Optionee at the time such position ceases or terminates may, at the sole discretion of the Board, be exercised within up to 90 calendar
days after the effective date that his position ceases or terminates (subject to the limitations at paragraph (a) hereinabove), but only to the extent that the option was exercisable according to its terms on the date the Optionee’s
position ceased or terminated. After such 90-day period any unexercised portion of an Option shall expire. 

  

	 	(e)	In the case of an Optionee who is an employee or consultant of the Company or a Related Company, if, for any reason (other than death or termination for cause by the Company or a
Related Company), the Optionee ceases to be employed by either the Company or a Related Company, any option held by the Optionee at the time his employment ceases or terminates may, at the sole discretion of the Board, be exercised within up to 60
calendar days (or up to 30 calendar days where the Optionee provided only investor relations services to the Company or a Related Company) after the effective date that his employment ceased or terminated (that being up to 60 calendar days (or up to
30 calendar days) from the date that, having previously provided to or received from the Company a notice of such cessation or termination, as the case may be, the cessation or termination becomes effective; and subject to the limitations at
paragraph (a) hereinabove), but only to the extent that the option was exercisable according to its terms on the date the Optionee’s employment ceased or terminated. After such 60-day (or 30-day) period any unexercised portion of an Option
shall expire. 

  

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	 	(f)	In the case of an Optionee who is an employee or consultant of the Company or a Related Company, if the Optionee’s employment by the Company or a Related Company ceases due to
the Company’s termination of such Optionee’s employment for cause, any unexercised portion of any Option held by the Optionee shall immediately expire. For this purpose “cause” shall mean conviction of a felony or continued
failure, after notice, by the Optionee to perform fully and adequately the Optionee’s duties. 

  

	 	(g)	Neither the selection of any Key Person as an Optionee nor the granting of an Option to any Optionee under this Plan shall confer upon the Optionee any right to continue as a
director, officer, employee or consultant of the Company or a Related Company, as the case may be, or be construed as a guarantee that the Optionee will continue as a director, officer, employee or consultant of the Company or a Related Company, as
the case may be. 

  

	 	(h)	Each Option shall be exercised in whole or in part by delivering to the office of the Treasurer of the Company written notice of the number of shares with respect to which the
Option is to be exercised and by paying in full the purchase price for the Option Shares purchased as set forth in Section 8. 

 8. Payment for Option Shares. 
 In the case of all Option exercises, the purchase price shall be paid in cash
or certified funds upon exercise of the Option. 
  

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 9. Incentive stock Options. 
  

	 	(a)	The Board may, from time to time, and subject to the provisions of this Plan and such other terms and conditions as the Board may prescribe, grant to any Key Person who is an
employee eligible to receive Options one or more Incentive Stock Options to purchase the number of shares of Common Stock allotted by the Board. 

  

	 	(b)	The Option price per share of Common Stock deliverable upon the exercise of an Incentive Stock Option shall be no less than the Fair Market Value of a share of Common Stock on the
Date of Grant of the Incentive Stock Option. 

  

	 	(c)	The Option term of each Incentive Stock Option shall be determined by the Board and shall be set forth in the Option Agreement, provided that the Option term shall commence no
sooner than from the Date of Grant and shall terminate no later than 10 years from the Date of Grant and shall be subject to possible early termination as set forth in Section 7 hereinabove. 

 10. Changes in Common Stock, adjustments, etc. 
 In the event that each of the outstanding shares of Common Stock (other than shares held by dissenting stockholders which are not changed or exchanged) should be changed into, or exchanged for, a different number or kind of shares of stock
or other securities of the Company, or, if further changes or exchanges of any stock or other securities into which the Common Stock shall have been changed, or for which it shall have been exchanged, shall be made (whether by reason of merger,
consolidation, reorganization, recapitalization, stock dividends, reclassification, split-up, combination of shares or otherwise), then there shall be substituted for each share of Common Stock that is subject to the Plan, the number and kind of
shares of stock or other securities into which each outstanding share of Common Stock (other than shares held by dissenting stockholders which are not changed or exchanged) shall be so changed or for which each outstanding share of Common Stock
(other than shares held by dissenting stockholders) shall be so changed or for which each such share shall be exchanged. Any securities so substituted shall be subject to similar successive adjustments. 
 In the event of any such changes or exchanges, the Board shall determine whether, in order to prevent dilution or enlargement of rights, an adjustment
should be made in the number, kind, or option price of the shares or other securities then subject to an Option or Options granted pursuant to the Plan and the Board shall make any such adjustment, and such adjustments shall be made and shall be
effective and binding for all purposes of the Plan. 
  

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 11. Relationship of employment. 
 Nothing contained in the Plan, or in any Option granted pursuant to the Plan, shall confer upon any Optionee any right with respect to employment by the
Company, or interfere in any way with the right of the Company to terminate the Optionee’s employment or services at any time. 
 12.
Non-transferability of Option. 
 No Option granted under the Plan shall be transferable by the Optionee, either voluntarily or
involuntarily, except by will or the laws of descent and distribution, and any attempt to do so shall be null and void. 
 13. Rights as a
stockholder. 
 No person shall have any rights as a stockholder with respect to any share covered by an Option until that person
shall become the holder of record of such share and, except as provided in Section 10, no adjustments shall be made for dividends or other distributions or other rights as to which there is an earlier record date. 
 14. Securities laws requirements. 
 No
Option Shares shall be issued unless and until, in the opinion of the Company, any applicable registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Act”), any applicable listing
requirements of any securities exchange on which stock of the same class is then listed, and any other requirements of law or of any regulatory bodies having jurisdiction over such issuance and delivery, have been fully complied with. Each Option
and each Option Share certificate may be imprinted with legends reflecting federal and state securities laws restrictions and conditions, and the Company may comply therewith and issue “stop transfer” instructions to its transfer agent and
registrar in good faith without liability. 
 In addition, the Company may not, except as otherwise directed by counsel to the Company,
register any Option Shares for resale under the U.S. Act or under any other applicable securities legislation when the registration of any such Option Shares may be contrary or inconsistent with the intent of any provisions, rules or policies
promulgated under the U.S. Act or any other securities legislation applicable to any such Option Shares. 
  

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 15. Disposition of Option Shares. 
 Each Optionee, as a condition of exercise, shall represent, warrant and agree, in a form of written certificate approved by the Company, as follows:
(i) that all Option Shares are being acquired solely for his own account and not on behalf of any other person or entity; (ii) that no Option Shares will be sold or otherwise distributed in violation of the U.S. Act or any other applicable
federal or state securities laws; (iii) that if he is subject to reporting requirements under Section 16(a) of the United States Securities Exchange Act of 1934, as amended, he will (a) furnish the Company with a copy of each
Form 4 filed by him and (b) timely file all reports required under the federal securities laws; and (iv) that he will report all sales of Option Shares to the Company in writing on a form prescribed by the Company. 
 16. Effective date of Plan; termination date of Plan. 
 The Plan shall be deemed effective as of November 1, 2003. The Plan shall terminate at midnight on November 1, 2023 except as to Options previously granted and outstanding under the Plan at the time. No
Options shall be granted after the date on which the Plan terminates. The Plan may be abandoned or terminated at any earlier time by the Board, except with respect to any Options then outstanding under the Plan. 
 17. Other provisions. 
 The following
provisions are also in effect under the Plan: 
  

	 	(a)	the use of a masculine gender in the Plan shall also include within its meaning the feminine, and the singular may include the plural, and the plural may include the singular,
unless the context clearly indicates to the contrary; 

  

	 	(b)	any expenses of administering the Plan shall be borne by the Company; 

  

	 	(c)	this Plan shall be construed to be in addition to any and all other compensation plans or programs. The adoption of the Plan by the Board shall not be construed as creating any
limitations on the power or authority of the Board to adopt such other additional incentive or other compensation arrangements as the Board may deem necessary or desirable; and 

  

	 	(d)	the validity, construction, interpretation, administration and effect of the Plan and of its rules and regulations, and the rights of any and all personnel having or claiming to
have an interest therein or thereunder shall be governed by and determined exclusively and solely in accordance with the laws of Antigua. 

 This Plan is dated and made effective on this 1st day of November, 2003. 

 

 9Employment Agreement between the Registrant and Weidong Yin, dated July 7,2006

 Exhibit 4.5 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (the “Agreement”), is entered into
as of July 7, 2006 (the “Effective Date”) by and between Sinovac Biotech Ltd., a company incorporated and existing under the laws of Antigua (the “Company”) and Dr. Weidong Yin, an individual (the
“Executive”). Except with respect to the direct employment of the Executive by the Company, the term “Company” as used herein with respect to all obligations of the Executive hereunder shall be deemed to include the
Company and all of its subsidiaries and affiliated entities (collectively, the “Group”). 
 RECITALS 
 A. The Company desires to continue to employ the Executive as its Chief Executive Officer and President and to enter into an agreement embodying the terms of such
employment and considers it essential to its best interests and the best interests of its shareholders to retain the employment of the Executive by the Company during the term of Employment (as defined below). 
 B. The Executive desires to accept such continued employment by the Company as its Chief Executive Officer and President during the term of Employment and upon the terms
and conditions of this Agreement. 
 AGREEMENT 
 The parties hereto agree as follows: 
  

	1.	POSITION 

 The Executive hereby accepts a position
as Chief Executive Officer and President (the “Employment”) of the Company. 
  

	2.	TERM 

 Subject to the terms and conditions of this
Agreement, the initial term of the Employment shall be three years commencing on the Effective Date, unless terminated earlier pursuant to the terms of this Agreement. Upon expiration of the initial three-year term, the Employment shall be
automatically extended for successive one-year terms unless either party gives the other party hereto a one-month prior written notice to terminate the Employment prior to the expiration of such one-year term or unless terminated earlier pursuant to
the terms of this Agreement. 
  

	3.	PROBATION 

 No probationary period. 

	4.	DUTIES AND RESPONSIBILITIES 

 The Executive’s
duties at the Company will include all jobs assigned by the Company’s Board of the Directors (the “Board”). 
 The
Executive shall devote all of his or her working time, attention and skills to the performance of his or her duties at the Company and shall faithfully and diligently serve the Company in accordance with this Agreement, and the by-laws, guidelines,
policies and procedures of the Company approved from time to time by the Board. 
 The Executive shall use his or her best efforts to perform
his or her duties hereunder. The Executive shall not, without the prior written consent of the Board, become an employee of any entity other than the Company and any subsidiary or affiliate of the Company, and shall not be concerned or interested in
any business or entity that competes with that carried on by the Company (any such business or entity, a “Competitor”), provided that nothing in this clause shall preclude the Executive from holding any shares or other securities of
any Competitor that is listed on any securities exchange or recognized securities market anywhere. The Executive shall notify the Company in writing of his or her interest in such shares or securities in a timely manner and with such details and
particulars as the Company may reasonably require. 
  

	5.	NO BREACH OF CONTRACT 

 The Executive hereby
represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms
of any other agreement or policy to which the Executive is a party or otherwise bound except for agreements entered into by and between the Executive and any member of the Group pursuant to applicable law, if any; (ii) that the Executive has no
information (including, without limitation, confidential information and trade secrets) relating to any other person or entity that would prevent, or be violated by, the Executive entering into this Agreement or carrying out his duties hereunder;
(iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement (other than this) with any other person or entity except for other member(s) of the Group, as the case may be. 
  

	6.	LOCATION 

 The Executive will be based in Beijing,
China. The Company reserves the right to transfer or second the Executive to any location in China or elsewhere in accordance with its operational requirements. 
  

	7.	COMPENSATION AND BENEFITS 

  

	 	(a)	Cash Compensation. The Executive’s cash compensation (including salary and bonus) shall be provided by the Company pursuant to Schedule A hereto, subject to
annual review and adjustment by the Company. 

  

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	 	(b)	Equity Incentives. To the extent the Company adopts and maintains a share incentive plan, the Executive will be eligible for participating in such plan pursuant to the terms
thereof as determined by the Company. 

  

	 	(c)	Benefits. The Executive is eligible for participation in any standard employee benefit plan of the Company that currently exists or may be adopted by the Company in the
future, including, but not limited to, any retirement plan, life insurance plan, health insurance plan and travel/holiday plan. 

  

	8.	TERMINATION OF THE AGREEMENT 

  

	 	(a)	By the Company. The Company may terminate the Employment for cause, at any time, without notice or remuneration, if (1) the Executive is convicted or pleads guilty to a
felony or to an act of fraud, misappropriation or embezzlement, (2) the Executive has been negligent or acted dishonestly to the detriment of the Company, (3) the Executive has engaged in actions amounting to misconduct or failed to
perform his or her duties hereunder and such failure continues after the Executive is afforded a reasonable opportunity to cure such failure, (4) the Executive has died, or (5) the Executive has a disability that shall mean a physical or
mental impairment which, as reasonably determined by the Board, renders the Executive unable to perform the essential functions of his employment with the Company, even with reasonable accommodation that does not impose an undue hardship on the
Company, for more than 180 days in any 12-month period, unless a longer period is required by applicable law, in which case that longer period would apply. In addition, the Company may terminate the Employment without cause, at any time, upon one
month’s written notice, and upon termination without cause, the Company shall provide compensation to the Executive as expressly required by applicable law of the jurisdiction where the Executive is based. 

  

	 	(b)	By the Executive. The Executive may terminate the Employment at any time with a one-month prior written notice to the Company, if (1) there is a material reduction in
the Executive’s authority, duties and responsibilities, or (2) there is a material reduction in the Executive’s annual salary before the next annual salary review. In addition, the Executive may resign prior to the expiration of the
Agreement if such resignation is approved by the Board or an alternative arrangement with respect to the Employment is agreed to by the Board. 

  

	 	(c)	Notice of Termination. Any termination of the Executive’s employment under this Agreement shall be communicated by written notice of termination from the terminating
party to the other party. The notice of termination shall indicate the specific provision(s) of this Agreement relied upon in effecting the termination. 

  

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	9.	EMPLOYEE INVENTIONS 

  

	 	(a)	The term “Employee Inventions” means any and all processes, inventions, technology, computer programs, original works or authorship, designs, formulas, patents,
discoveries, copyrights and all improvements, rights, and claims that are conceived, developed or reduced to practice by the Executive alone or with others. 

  

	 	(b)	Any and all Employee Inventions that the Executive has conceived or made, or may conceive or make during the term of the Employment using the equipment, supplies, facilities or
trade secret of the Company or any other member of the Group, directly or indirectly, connected with the business of the Company or any other member of the Group, shall be the sole and exclusive property of the Company or as it may designate, any
other member of the Group. The Executive agrees that all patentable and copyrightable works by the Executive while working on company projects or under the Company’s direction, in connection with the Company’s or the Group’s business
are “works made for hire” and the Executive hereby assigns all proprietary rights, including patent and copyright, in these works to the Company or as it may designate, any other member of the Group without further compensation.

  

	 	(c)	The Executive further agrees to (i) disclose promptly to the Company all such Employee Inventions that the Executive has made or may make while working on company projects
solely, jointly or commonly with others, (ii) assign all such Employee Inventions to the Company or as it may designate, any other member of the Group, and (iii) execute and sign any and all applications, assignments or other instruments
that the Company may deem necessary in order to enable it, at its expense, to apply for, prosecute, and obtain patents, copyrights, or other proprietary rights in China and foreign countries, or in order to transfer to the Company or as it may
designate, any other member of the Group all right, title and interest in such Employee Inventions. 

  

	 	(d)	The provisions set forth in Exhibit A shall apply. 

  

	10.	CONFIDENTIAL INFORMATION. 

  

	 	(a)	The Executive recognizes and acknowledges that he will have access to certain information of the Company or the Group and that such information is confidential and constitutes
valuable, special and unique property of the Company or the Group. The parties agree that the Company and the Group have a legitimate interest in protecting the Confidential Information (as defined in Exhibit A), which includes all the
commercial and technological secrets and know-how and other confidential information of the Company or the Group. The parties agree that each of the Company and other members of the Group is entitled to protection of its interests in the
Confidential Information. The Executive shall not at any time, either during or subsequent to the term of this Agreement, disclose to others, use, copy or permit to be copied, except in pursuance of his duties for an on behalf of the Company, it
successors, assigns or nominees, any Confidential Information (regardless of whether developed by the Executive) without the prior written consent of the Company. 

  

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	 	(b)	The parties agrees that in the event of a violation of this covenant against non-use and non-disclosure of Confidential Information, that the Company or the relevant member of the
Group shall be entitled to a recovery of damages from Executive and/or an injunction against the Executive for the breach or violation or continued breach or violation of this covenant or the confidential agreement mentioned above.

  

	 	(c)	The Executive shall not issue any publications and papers containing any Confidential Information without the Company’s prior written consent. 

  

	 	(d)	The provisions set forth in Exhibit A shall apply. 

  

	11.	NON-COMPETITION 

  

	 	(a)	During the Employment Term, the Executive shall devote his full business efforts and time to the Company. Executive agrees, during the Employment Term for a period of 6 months
thereafter, not to actively engage in any other employment, occupation, consulting activity or business referral for any direct or indirect remuneration without the prior approval of the Company; provided, however, that Executive may serve in any
capacity with any civic, educational or charitable organization, or as a member of corporate Boards of Directors or committees thereof, without the approval of the Company, unless there is a conflict of interest. 

  

	 	(b)	During the Employment Term, the Executive shall declare any shareholdings and interest in other companies in which there is a conflict interest with the Company.

  

	 	(c)	The provisions set forth in Exhibit A shall apply. 

  

	12.	WITHHOLDING TAXES 

 Notwithstanding anything else
herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable under or pursuant to this Agreement such national, provincial, local or any other income, employment, or
other taxes as may be required to be withheld pursuant to any applicable law or regulation. 
  

	13.	ASSIGNMENT 

 This Agreement is personal in its
nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or any rights or obligations hereunder; provided, however, that (i) the Company may assign or transfer this Agreement or any
rights or obligations hereunder to any member of the Group without such consent, and (ii) in the event of a merger, consolidation, or transfer or sale of all or substantially all of the assets of the company with or to any other individual(s)
or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company
hereunder. 
  

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	14.	SEVERABILITY 

 If any provision of this Agreement or
the application thereof is held invalid, the invalidity of that certain provision shall not affect the validity of other provisions or applications of this Agreement, which can be given effect without the invalid provisions or applications and to
this end the provisions of this Agreement are declared to be severable. 
  

	15.	ENTIRE AGREEMENT 

 This Agreement constitutes the
entire agreement and understanding between the Executive and the Company regarding the terms of the Employment and supersedes all prior or contemporaneous oral or written agreements concerning such subject matter. The Executive acknowledges that he
or she has not entered into this Agreement in reliance upon any representation, warranty or undertaking that is not set forth in this Agreement. Any amendment to this Agreement must be in writing and signed by the Executive and the Company.

  

	16.	GOVERNING LAW 

 This Agreement shall be governed by
and construed in accordance with the law of the State of New York, USA. 
  

	17.	AMENDMENT 

 This Agreement may not be amended,
modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this Agreement, which agreement is executed by both of the parties hereto. 
  

	18.	WAIVER 

 Neither the failure nor any delay on the
part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the
same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence.
No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver. 
  

	19.	NOTICES 

 All notices, requests, demands and other
communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given and made if (i) delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by a
recognized courier with next-day or second-day delivery to the last known address of the other party. 
  

 6 

	20.	COUNTERPARTS 

 This Agreement may be executed in any
number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more
counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

  

	21.	NO INTERPRETATION AGAINST DRAFTER 

 Each party
recognizes that this Agreement is a legally binding contract and acknowledges that it, he or she has had the opportunity to consult with legal counsel of choice. In any construction of the terms of this Agreement, the same shall not be construed
against either party on the basis of that party being the drafter of such terms. 
 [Remainder of this page intentionally has been
intentionally left blank.] 
  

 7 

 IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above.

  

			
	SINOVAC BIOTECH LTD.
		
	By:	 	
	Name:	 	
	Title:	 	
	
	WEIDONG YIN
	  
  

 Schedule A 
 Cash Compensation 
  

					
	 	 	 Amount
	 	 Pay Period

	 Salary
	 		 	
			
	 Bonus
	 		 	

  

 9 

 Exhibit A 
 1. Non-Disclosure 
 A. The Executive will hold all Confidential Information in confidence and will not disclose, use, copy,
publish, summarize, or remove from the premises of Company any Confidential Information, except (a) as a necessary to carry out his assigned responsibilities as a Company employee, and (b) after termination of his employment, only as
specifically authorized in writing by an officer of Company. However, The Executive shall not be obligated under this paragraph with respect to information if such information is or becomes readily publicly available without restriction through no
fault of his. “Confidential Information” shall mean all information related to any aspect of the business of Company or the Group that is either information not known by actual or potential competitors of Company or any other member
of the Group or is proprietary information of Company or any other member of the Group, whether of a technical nature or otherwise. Confidential Information includes inventions, disclosures, processes, systems, methods, formulae, devices, patents,
patent applications, trademarks, intellectual properties, instruments, materials, products, patterns, compilations, programs, techniques, sequences, designs, research or development activities and plans, specifications, computer programs, source
codes, costs of production, prices or other financial data, volume of sales, promotional methods, marketing plans, lists of names or classes of customers or personnel, lists of suppliers, business plans, business opportunities or financial
statements. 
 B. The Executive will safeguard and keep confidential the proprietary information of customers, vendors, consultants and other
parties with which Company or any other member of the Group does business to the same extent as if it were Confidential Information. The Executive will not, during his employment with Company or otherwise, use or disclose to the Company any
confidential, trade secret or other proprietary information or material of any previous employer or other person, and the Executive will not bring onto the Company’s premises any unpublished document or any other properly belonging to any
former employer without the written consent of that former employer. 
 2. Non-Competition 
 A. During the Executive’s employment with the Company, the Executive will perform for the Company such duties as it may designate from time to time
and will devote his full time and best efforts to the business of the Company and will not, without the prior written approval of (i) an officer for the Company if he is not an executive officer of the Company or (ii) the board of
directors of the Company if he is an executive officer for the Company: (a) engage in any other professional employment or consulting, or (b) directly or indirectly participate in or assist any business that is a current or potential
supplier, customer, or competitor of the Company. 
 B. The Executive agrees that during the term of his employment with the Company (whether
or not during business hours), he will not engage in any activity that is in any way competitive with the business or demonstrably anticipated business of the Company, and he will not assist any other person or organization in competing or in
preparing to compete with any business or demonstrably anticipated business of the Company. 
  

 10 

 C. During the terms of his employment by the Company and for one year thereafter, The Executive shall not
directly or indirectly, without the prior written consent of the Company, solicit, recruit, encourage or induce any employees, officers, consultants, contractors or subcontractors of the Company to leave the employ of the Company, either on his own
behalf or on behalf of any other person or entity. 
 3. Proprietary Information 
 A. Upon termination of his employment, the Executive will promptly return to the Company all items containing or embodying Confidential Information
(including all copies), except that he may keep his personal copies of (i) his compensation records, (ii) materials distributed to shareholders generally and (iii) this Agreement. All papers, records, data, notes, drawings, files,
documents, samples, devices, products, equipment and other materials, including copies and in whatever form relating to the business of Company that the Executive possesses or creates as a result of his employment, whether or not confidential, are
the sole and exclusive property of the Company. In the event of the termination or expiration of his employment, the Executive will promptly deliver all such materials to the Company. 
 B. All inventions, ideas, designs, circuits, schematics, formulas, algorithms, trade secrets, works of authorship, developments, processes, techniques,
improvements and related know-how that result from work performed by the Executive, alone or with others, on behalf of the Company or through access to Confidential Information or property, whether or not patentable or copyrightable (collectively
“Inventions”) shall be the property of the Company, and to the extent permitted by law, shall be “works made for hire”. The Executive hereby assigns and agrees to assign to the Company or its designee, without further
consideration, his entire right, title and interest in and to all Inventions, including all rights to obtain, register, perfect and enforce patents, copyrights and other intellectual property protection for inventions. The Executive will disclose
promptly and in writing to the individual designated by the Company or to his immediate supervisor all Inventions that he has made or reduced to practice. During his employment and for four years after, the Executive will assist the Company (at its
expense) to obtain and enforce patents, copyrights and other forms of intellectual property protection on Inventions. If the Executive uses or discloses his own confidential information or intellectual property when acting within the scope of his
employment or otherwise on behalf of the Company, the Company will have and the Executive hereby grants the Company a perpetual, irrevocable, worldwide royalty-free, non-exclusive, sublicensable right and license to exploit and exercise all such
confidential information and intellectual property rights. 
 C. The Executive has not entered into, and he agrees he will not enter into,
any agreement either written or oral in conflict with this Agreement or his employment with the Company. The Executive will not violate any agreement with or rights of any third party or, except as expressly authorized by the Company in writing
hereafter, use or disclose his own or any third party’s confidential information or intellectual property when acting within the scope of his employment or otherwise on behalf of the Company. Further, the Executive has not retained anything
containing any confidential information of a prior employer or other third party, whether or not created by him. 
  

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 4. Miscellaneous 
 The Executive agrees that his obligation under paragraphs 1, 2 and 3 of this exhibit shall continue in effect after termination of his employment, regardless of the reason or reasons for termination, and whether such
termination is voluntary of involuntary on his part, and that the Company is entitled to communicate the Executive’s obligations under this exhibit to any further employer or potential employer of his. The Executive’s obligations under
paragraphs 1, 2 and 3 also shall be binding upon his heirs, executors, assigns, and administrators and shall inure to the benefit of the Company, its subsidiaries, successors and assigns. 
  

 12

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