Document:

Exhibit 10.1

 

 

 

INDEMNITY AGREEMENT

 

This Indemnification
Agreement (“Agreement”) is made as of June 25, 2012, by and between LAKELAND INDUSTRIES, INC., a Delaware corporation
(the “Company”), and _______________________ (“Indemnitee”).

 

RECITALS 

 

WHEREAS, highly competent persons
have become more reluctant to serve publicly-held corporations as directors or in other capacities unless they are provided with
adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising
out of their service to and activities on behalf of the corporation.

 

WHEREAS, the Board of Directors
of the Company (the “Board”) has determined that, in order to attract and retain qualified individuals, the Company
will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and
its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice
among United States based corporations and other business enterprises, the Company believes that, given current market conditions
and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time,
directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive
and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against
the Company or business enterprise itself. The Restated Certificate of Incorporation of the Company requires indemnification of
the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to the Delaware General
Corporation Law (“DGCL”). The Restated Certificate of Incorporation and the DGCL expressly provide that the indemnification
provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company
and members of the board of directors, officers and other persons with respect to indemnification.

 

WHEREAS, the uncertainties relating
to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons.

 

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

 

WHEREAS, it is reasonable, prudent
and necessary for the Company contractually to obligate itself to indemnity, and to advance expenses on behalf of, such persons
to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern
that they will not be so indemnified.

 

    	 

    	 	

    

 

WHEREAS, this Agreement is a supplement
to and in furtherance of the Restated Certificate of Incorporation of the Company and any resolutions adopted pursuant thereto,
and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

 

WHEREAS, Indemnitee does not regard
the protection available under the Company’s Restated Certificate of Incorporation and insurance as adequate in the present
circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee
to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf
of the Company on the condition that he be so indemnified;

 

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

 

1.          Services to
the Company. Indemnitee will serve or continue to serve, at the will of the Company, as an officer, director or key employee
of the Company for so long as Indemnitee is duly elected or appointed or until Indemnitee tenders his or her resignation.

 

2.           Definitions.
As used in this Agreement:

 

(a)      A “Change
in Control” shall mean the acquisition by any person or entity of voting shares of the Company if upon such acquisition such
person is the beneficial owner (as defined under Section 13(d) of the Securities Exchange Act of 1934) of at least 50% of the voting
shares of the Company; consummation of a consolidation or merger involving the Company in which the Company is not the surviving
entity (unless the stockholders of the Company immediately prior to such transaction beneficially own voting securities in the
surviving parent entity representing at least 50% of the voting shares in substantially the same ownership proportions as immediately
before such transaction); the sale, lease or exchange of all or substantially all of the Company’s assets; or the shareholder
approval of a plan of liquidation or dissolution of the Company followed by a substantial event representing commencement of such
liquidation or dissolution.

 

     (b) 
     “Company” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent
of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and
authority to indemnify its directors, officers, employees or agents, so that if Indemnitee is or was a director, officer, employee
or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or other enterprise, Indemnitee shall stand in the
same position under the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would
have with respect to such constituent corporation of its separate existence had continued.

 

    	 

    	 	

    

 

     (c) 
     “Corporate Status” describes the status of a person who is or was a director, officer, employee or agent of the
Company or of any other corporation, partnership or joint venture, trust, employee benefit plan or other enterprise which such
person is or was serving at the request of the Company.

 

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

 

     (e) 
     “Enterprise” shall mean the Company and any other corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee,
agent or fiduciary.

 

     (f) 
     “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of
experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service
fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing
to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses
also shall include Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation
the premium, security for, and other costs relating to any cost bond, supersedes bond, or other appeal bond or its equivalent.
Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

     (g)        Reference
to “other enterprise” shall include employee benefit plans; references to “fines” shall include any excise
tax assessed with respect to any employee benefit plan; references to “serving at the request of the Company” shall
include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by,
such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person
who acted in good faith and in a manner he reasonably believed to be in the best interests of the participants and beneficiaries
of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Company”
as referred to in this Agreement.

 

     (h) 
     The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, alternate dispute
resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, including
any and all appeals, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative
or investigative nature, in which Indemnitee was, or will be involved as a party or otherwise by reason of the fact that Indemnitee
is or was a director or officer of the Company, by reason of any action taken by him or of any action on his part while acting
as director or officer of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director,
officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, in each case whether
or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement
of expenses can be provided under this Agreement; except one initiated by a Indemnitee to enforce his rights under this Agreement.

 

    	 

    	 	

    

 

     (i) 
     “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in
any matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or
of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a
claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to
pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any
and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

3.          Indemnity
in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 3
if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in
the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified against
all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on his behalf in
connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal proceeding had
no reasonable cause to believe that such conduct was unlawful.

 

4.          Indemnity
in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with the provisions
of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the
right of the Company to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be indemnified against
all Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding or any claim, issue or
matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests
of the Company. No indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter
as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that
the Delaware Court of Chancery or any court in which the Proceeding was brought shall determine upon application that, despite
the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to
indemnification.

 

5.           Indemnification
for Expenses of a Party who is Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement, to the
extent that Indemnitee is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or
in defense of any claim, issue or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses
actually and reasonably incurred by him in connection therewith. If Indemnitee is not wholly successful in such Proceeding but
is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the
Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection
with each successfully resolved claim, issue or matter. If the Indemnitee is not wholly successful in such Proceeding, the Company
also shall indemnify Indemnitee against all Expenses reasonably incurred in connection with a claim, issue or matter related to
any claim, issue, or matter on which the Indemnitee was successful. For purposes of this Section and without limitation, the termination
of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful
result as to such claim, issue or matter.

 

6.           Indemnification
for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of his Corporate Status, a witness in any Proceeding to which Indemnitee is not a party, he shall be indemnified against all Expenses
actually and reasonably incurred by him or on his behalf in connection therewith.

 

    	 

    	 	

    

 

7.           Additional
Indemnification.

 

     (a) Notwithstanding
any limitation in Sections 3, 4, or 5, the Company shall indemnify Indemnitee to the fullest extent permitted by law if Indemnitee
is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure
a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred
by Indemnitee in connection with the Proceeding.

 

     (b)        For
purposes of Sections 7(a), the meaning of the phrase “to the fullest extent permitted by law” shall include, but
not be limited to:

 

            i.     to
the fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement,
or the corresponding provision of any amendment to or replacement of the DGCL, and

 

            ii.
   to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this
Agreement that increase the extent to which a corporation may indemnify its officers and directors.

 

8.          Exclusions.
Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity
in connection with any claim made against Indemnitee:

 

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

 

     (b) 
     for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state or
local law; or

 

    	 

    	 	

    

 

     (c) 
      in connection with any Proceeding (or any part of any Proceeding) initiated or brought voluntarily by Indemnitee, including
any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees
or other indemnitees, unless (i) the Board of Directors of the Company authorized the Proceeding (or any part of any Proceeding)
prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested
in the Company under applicable law.

 

9.           Advances
of Expenses. Notwithstanding any provision of this Agreement to the contrary and upon written notice to the Company, the Company
shall pay Expenses incurred by the Indemnitee in advance (each, an “Advance”) of the final disposition of a Proceeding.
Indemnitee undertakes to repay the amount of each Advance if it shall ultimately be determined that Indemnitee is not entitled
to be indemnified by the Company. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s
ability to repay the expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other
provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this
right of advancement. This Section 9 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant
to Section 8.

 

10.         Selection
of Counsel. In the event the Company shall be obligated under Section 9 hereof to pay the expenses of any Proceeding against
Indemnitee, the Company shall be entitled to assume the defense of such Proceeding, with counsel of its choice upon the delivery
to Indemnitee of written notice of its election to do so. After delivery of such notice and the retention of such counsel by the
Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee
with respect to the same Proceeding, provided that (i) Indemnitee shall have the right to employ his counsel in any such Proceeding
at Indemnitee’s expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized
in writing by the Company and the Company shall have agreed in writing to bear the cost thereof, (B) Indemnitee shall have
reasonably concluded upon the advice of legal counsel that there is a conflict of interest between the Company and Indemnitee in
the conduct of any such defense, or (C) the Company shall not, in fact, have employed counsel to assume the defense of such
Proceeding within a reasonable period of time after its election to do so, then the fees and expenses of Indemnitee’s counsel
shall be at the expense of the Company.

 

11.         Procedure
for Notification and Defense of Claim.

 

     (a) Indemnitee
shall, as a condition precedent to his right to be indemnified under this Agreement, give the Company notice in writing as soon
as practicable of any claim made against Indemnitee for which indemnification will or could be sought under this Agreement, provided
however, that a delay in giving such notice shall not deprive Indemnitee of any right to be indemnified under this Agreement unless,
and then only to the extent that, such delay is materially prejudicial to the defense of such claim. The omission to notify the
Company will not relieve the Company from any liability for indemnification which it may have to Indemnitee otherwise than under
this Agreement. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board
in writing that Indemnitee has requested indemnification.

 

    	 

    	 	

    

 

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

 

12.        Procedure
upon Application for Indemnification.

 

     (a) 
    Upon written request by Indemnitee for indemnification pursuant to Section 11 or 9 of this Agreement, a determination,
if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case: (i) if
a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board of Directors, a copy of which
shall be delivered to Indemnitee; or (ii) if a Change in Control shall not have occurred, (A) by a majority vote of the
Disinterested Directors, whether or not such majority constituted a quorum of the Board, (B) by a committee of Disinterested
Directors designated by a majority vote of the Disinterested Directors, whether or not such majority constituted a quorum of the
Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel
in a written opinion to the Board, a copy of which shall be delivered to Indemnitee or (D) if so directed by the Board, by
the stockholders of the Company. Indemnitee shall cooperate with the person, persons or entity making such determination with respect
to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance
request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees
and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall
be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company
hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

     (b) 
      In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a)
hereof, the Independent Counsel shall be selected as provided in this Section 12(b). If a Change in Control shall not have
occurred, the Independent Counsel shall be selected by the Board of Directors, and the Company shall give written notice to Indemnitee
advising him of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent
Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board of Directors,
in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the
identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within 10 days
after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written
objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent
Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement,
and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection,
the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent
Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined
that such objection is without merit. If, within 20 days after submission by Indemnitee of a written request for indemnification
pursuant to Section 11(a) hereof, no Independent Counsel shall have been selected and not objected to, either the Company
or lndemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the
Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of
a person selected by the Court or by such other person as the Court shall designate, and the person with respect to whom all objections
are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due commencement
of any judicial proceeding pursuant to Section 14 of this Agreement, Independent Counsel shall be discharged and relieved
of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

    	 

    	 	

    

 

13.       Presumptions and Effect of
Certain Proceedings.

 

     (a)        Upon
making a written request for indemnification, the Indemnitee shall be presumed to be entitled to indemnification hereunder, and
the Company shall have the burden of proof in the making of any determination contrary to such presumption. The person or persons
empowered to make the determination of entitlement to indemnification shall, within 45 days in the case of indemnification and
within 20 days in the case of an Advance after receipt by the Company of the Indemnitee’s written request for indemnification
or an advance, specifically determine that the Indemnitee is so entitled, unless it or they make a determination that (i) sufficient
evidence exists to rebut the presumption that the Indemnitee has met the applicable standard of conduct set forth in Section 3,
4 or 5 hereof and it is determined that the Indemnitee did not meet the applicable standard of conduct or (ii) that the request
relates to one of the matters with respect to which Section 8 of this Agreement prohibits indemnification. The termination of any
Proceeding described in Section 3, 4 or 5 by judgment, order, settlement conviction, or upon a plea of nolo contendere or
its equivalent, shall not, of itself, create a presumption that the Indemnitee did not meet the applicable standard of conduct
set forth in Section 3, 4 or 5 or otherwise adversely affect the rights of the Indemnitee to indemnification except as may be provided
herein.

 

     (b)        For purposes of any determination
of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books
of account of the Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise
in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports
made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with the reasonable
care by the Enterprise. The provisions of this Section 13(b) shall not be deemed to be exclusive or to limit in any way the other
circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

 

    (c)        The knowledge and/or actions,
or failure to act, of any other director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes
of determining the right to indemnification under this Agreement.

 

    	 

    	 	

    

 

14.        Remedies
of Indemnitee in Cases of Determination not to Indemnify or to Advance Expenses. Regardless of any action taken under Section
12(a) of this Agreement, if Indemnitee has not received payment in full within 45 days after making a written demand for indemnification
in accordance with Section 11(a), or within 20 days after making a written request for an Advance in accordance with Section 9,
Indemnitee shall have the right to enforce Indemnitee’s indemnification rights under this Agreement by commencing litigation
in accordance with Section 26 herein seeking an initial determination by the court or challenging any determination made pursuant
to Section 12(a) of this Agreement or any aspect thereof. The Company hereby consents to service of process and to appear in any
such proceeding. Any determination made pursuant to Section 12(a) of this Agreement not challenged by the Indemnitee shall be binding
on the Company and Indemnitee. The remedy provided for in this Section 14 shall be in addition to any other remedies available
to Indemnitee at law or in equity.     

 

15.        Expenses
to Enforce Agreement. In the event that the Indemnitee is subject to or intervenes in any Proceeding in which the validity
or enforceability of this Agreement is at issue or seeks an adjudication or to enforce his rights under, or to recover damages
for breach of, this Agreement, the Indemnitee, if he prevails in whole or in part in such action, shall be entitled to recover
from the Company and shall be indemnified by the Company against all Expenses actually and reasonably incurred by him or on his
behalf in connection therewith.

 

16.        Non-exclusivity;
Survival of Rights; Insurance; Subrogation.

 

     (a)       The
rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of
any other rights to which Indemnitee may at any time be entitled under applicable law, the Company’s Restated Certificate
of Incorporation, the Company’s Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise.
No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee
under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment,
alteration or repeal. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification
or advancement of Expenses than would be afforded currently under the Company’s Restated Certificate of Incorporation 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. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right
and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at
law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other right or remedy.

 

     (b) 
     To the extent the Company maintains liability insurance applicable to directors and officers, the Indemnitee shall be covered
by such policies in such a manner as to provide to the Indemnitee the same rights and benefits as are accorded to the most favorably
insured of the Company’s directors, if the Indemnitee is a director, or of the Company’s officers, if the Indemnitee
is not a director of the Company but is an officer.

 

    	 

    	 	

    

 

     (c) 
     In the event of any 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 take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

     (d) 
    The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable (or for which advancement
is provided hereunder) hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance
policy, contract, agreement or otherwise.

 

     (e) 
     The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request
of the Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement
of expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

 

17.        Duration
of Agreement. This Agreement shall continue until and terminate upon the later of: (a) 10 years after the date that
Indemnitee shall have ceased to serve as a director or officer of the Company or as a director, officer, employee or agent of any
other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which Indemnitee served at the
request of the Company; or (b) one year after the final termination of any Proceeding, including any and all appeals, then
pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding
commenced by Indemnitee pursuant to Section 14 of this Agreement relating thereto.

 

18.        Successors
and Assigns. This Agreement shall be binding upon the Company and its successors and assigns and shall insure to the benefit
of Indemnitee and his heirs, executors and administrators.

 

19.        Severability.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation,
each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that
is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable
to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary
to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent
possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be
construed so as to give effect to the intent manifested thereby.

  

    	 

    	 	

    

 

20.        Enforcement.

 

     (a) 
     The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it
hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as a director or officer of the Company.

 

     (b) 
     This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof.

 

21.        Effectiveness
of Agreement. This Agreement shall be effective as of the date set forth on the first page and may apply to acts or omissions
of Indemnitee which occurred prior to such date if Indemnitee was an officer, director, employee or other agent of the Company,
or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, at the time such act or omission occurred.

 

22.        Modification
and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties
thereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions
of this Agreement nor shall any waiver constitute a continuing waiver.

 

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

 

24.        Notices.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given (a) if delivered by hand and receipted for by the party to whom said notice or other communication shall have been
directed, or (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on
which it is so mailed:

 

     (a) 
     If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall
provide to the Company.

 

     (b)       If
to the Company to

 

	 	Lakeland Industries, Inc.
 Attn: Christopher J. Ryan and Gary Pokrassa
 701 Koehler Avenue, Suite 7
 Ronkonkoma, New York 11779

 

    	 

    	 	

    

 

or to any other address as may have been
furnished to Indemnitee by the Company.

 

25.       Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred
by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses,
in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and
reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received
by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the
relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s)
and/or transaction(s).

 

26.        Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and
Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with
this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not
in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to
the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with
this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware,
irrevocably CT Corporation System, 1209 Orange Street, Wilmington, Delaware 19801 as its agent in the State of Delaware as such
party’s agent for acceptance of legal process in connection with any such action or proceeding against such party with the
same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to
the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any
claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

 

27.        Identical
Counterparts. This Agreement may be executed in one or more 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.

 

     28.          Miscellaneous.
Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings of the paragraphs
of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

 

    	 

    	 	

    

 

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

	 	 	 
	Lakeland Industries, Inc.	 	INDEMNITEE
	 	 	 
	
        By: /s/ Christopher J. Ryan 

        Name: Christopher J. Ryan

         

        Title: President and Secretary
	 	
                                                                                

        Name:

         

        Address:EXECUTION VERSION

 

VOTING AGREEMENT

 

VOTING AGREEMENT, dated
as of June 28, 2012 (this “Agreement”), by and between Fushi Copperweld, Inc., a Nevada corporation (the
“Company”), Green Dynasty Limited, a Cayman Islands exempted company (“Parent”)
and the stockholders of the Company listed on Schedule A hereto (each, a “Stockholder” and collectively,
the “Stockholders”). Capitalized terms used herein but not defined shall have the meanings given to them
in the Merger Agreement (as defined below).

 

WITNESSETH:

 

WHEREAS, Parent, Green
Dynasty Acquisition, Inc., a Nevada corporation and a wholly-owned subsidiary of Parent (“Merger Sub”),
Green Dynasty Holdings Limited, a Cayman Islands exempted company (“Holdco”) and the Company are concurrently
herewith entering into an Agreement and Plan of Merger (as may be amended, supplemented or otherwise modified, the “Merger
Agreement”), pursuant to which at the effective time under the Merger Agreement (the “Effective Time”),
Merger Sub will merge with and into the Company, with the Company continuing as the surviving entity and a wholly-owned subsidiary
of Parent (the “Merger”);

 

WHEREAS, as of the
date hereof, each Stockholder Beneficially Owns the Stockholder Existing Shares (each such term as hereinafter defined); and

 

WHEREAS, as a condition
to the willingness of and material inducement to Parent, Merger Sub, Holdco and the Company to enter into the Merger Agreement
and to consummate the transactions contemplated thereby, including the Merger, each Stockholder has agreed to enter into this Agreement,
pursuant to which such Stockholder is agreeing, among other things, to vote all of the Securities (as hereinafter defined) it Beneficially
Owns in accordance with the terms of this Agreement.

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual representations, warranties, covenants and agreements contained herein, and intending
to be legally bound hereby, the parties hereto hereby agree as follows:

 

Section
1.             Certain Definitions.
For purposes of this Agreement:

 

(a)          “Beneficially
Own” or “Beneficial Ownership” with respect to any securities means having “beneficial
ownership” of such securities as determined pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”).

 

(b)          “Company
Shares” means the shares of common stock, par value $0.006 per share, of the Company.

 

(c)          “Securities”
means the Stockholder Existing Shares together with any Company Shares and other securities of the Company which the Stockholder
and/or any of its “affiliates” (as defined in the Merger Agreement as of the date hereof) acquires Beneficial Ownership
of after the date hereof and prior to the termination of this Agreement whether upon the exercise of options, warrants or rights,
the conversion or exchange of convertible or exchangeable securities, or by means of purchase, dividend, distribution, split-up,
recapitalization, combination, exchange of shares or the like, gift, bequest, inheritance or as a successor in interest in any
capacity or otherwise.

 

    	 

    	 

    

 

(d)          “Stockholder
Existing Shares” means the Company Shares as set forth on Schedule A hereto. In the event of a stock dividend
or distribution, or any change in the Company Shares by reason of any stock dividend, split-up, recapitalization, combination,
exchange of shares or the like other than pursuant to the Merger, the term “Stockholder Existing Shares” will be deemed
to refer to and include all such stock dividends and distributions and any shares into which or for which any or all of the Stockholder
Existing Shares may be changed or exchanged as well as the Stockholder Existing Shares that remain.

 

Section
2.             Representations and Warranties
of Stockholder. Each Stockholder, severally and not jointly, hereby represents and warrants to the Company and Parent as follows:

 

(a)          Ownership
of Company Shares. As of the date hereof and at all times prior to the termination of this Agreement, such Stockholder Beneficially
Owns (and will Beneficially Own, unless any Stockholder Existing Shares are transferred pursuant to Section 6(a) hereof)
the Stockholder Existing Shares set forth opposite such Stockholder’s name on Schedule A. Such Stockholder has and
will have at all times through the termination of this Agreement sole voting power, sole power of disposition, sole power to issue
instructions with respect to the matters set forth in Section 7 hereof, and sole power to agree to all of the matters set
forth in this Agreement, in each case with respect to the Stockholder Existing Shares set forth opposite such Stockholder’s
name on Schedule A, with no limitations, qualifications or restrictions on such power, subject to applicable securities
laws and the terms of this Agreement. As of the date hereof, neither such Stockholder nor any of its affiliates Beneficially Owns
any Securities other than the Company Shares set forth opposite such Stockholder’s name on Schedule A. None of the
Stockholder Existing Shares of such Stockholder is the subject of any commitment, undertaking or agreement, contingent or otherwise,
the terms of which relate to or could give rise to the transfer of any Stockholder Existing Shares or would affect in any way the
ability of such Stockholder to perform its, his or her obligations as set out in this Agreement. Such Stockholder has not appointed
or granted any proxy inconsistent with this Agreement with respect to the Securities.

 

(b)          Authority.
Such Stockholder has the requisite power to agree to all of the matters set forth in this Agreement with respect to the Securities
it Beneficially Owns and the full authority to vote, transfer and hold all the Securities it Beneficially Owns, with no limitations,
qualifications or restrictions on such power, subject to applicable securities laws and the terms of this Agreement.

 

(c)          Power;
Binding Agreement. Such Stockholder has the legal capacity and authority to enter into this Agreement and to perform all of
its obligations under this Agreement. This Agreement has been duly and validly executed and delivered by such Stockholder and constitutes
a valid and binding agreement of such Stockholder, enforceable against such Stockholder in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or
affecting creditors’ rights and to general equity principles.

 

    	2

    	 

    

 

(d)          No
Conflicts. None of the execution and delivery of this Agreement by such Stockholder, the consummation by such Stockholder of
any of the transactions contemplated hereby or compliance by such Stockholder with any of the provisions hereof (i) if such Stockholder
is not a natural person, conflicts with or results in any breach of any organizational documents applicable to such Stockholder,
(ii) violates any order, writ, injunction, decree, judgment, law, statute, rule or regulation applicable to such Stockholder or
any of such Stockholder’s properties or assets, (iii) results in or constitutes (with or without notice or lapse of time
or both) any breach of or default under, or result in the creation of any lien or encumbrance or restriction on, such Stockholder
or any of the Securities of such Stockholder, including pursuant to, any note, bond, mortgage, indenture, contract, agreement,
lease, license, permit, franchise or other instrument or obligation to which such Stockholder is a party or by which the Securities
of such Stockholder is bound or (iv) except for the requirements of the Exchange Act, requires any filing with, or permit, authorization,
consent or approval of, any Governmental Entity. There is no beneficiary, trustee or holder of a voting trust certificate or other
interest in such Stockholder whose consent is required for the execution and delivery of this Agreement of the performance by such
Stockholder of the obligations hereunder.

 

(e)          No
Encumbrance. Except as permitted by this Agreement, such Stockholder Existing Shares are now and at all times during the term
hereof will be, and the Securities will be, held by such Stockholder, free and clear of all liens, proxies, powers of attorney,
voting trusts and voting agreements and arrangements (collectively, “liens”), except for any such liens
arising hereunder or under applicable federal and state securities laws and/or liens that are not material to the performance of
any of its obligations under this Agreement by such Stockholder.

 

(f)          No
Litigation. There is no Legal Proceeding outstanding, pending or, to the knowledge of such Stockholder, threatened against
or affecting such Stockholder or the Securities of such Stockholder at law or in equity before or by any Governmental Entity or
any other person that could reasonably be expected to impair the ability of such Stockholder to perform his or its obligations
hereunder on a timely basis.

 

(g)          Opportunity
to Review; Reliance. Such Stockholder has had the opportunity to review the Merger Agreement and this Agreement with counsel
of its own choosing. Such Stockholder understands and acknowledges that Parent, Merger Sub and the Company are entering into the
Merger Agreement in reliance upon the execution, delivery and performance of this Agreement and such Stockholder’s representations,
warranties and covenants hereunder.

 

Section
3.             Representations and Warranties
of the Company and Parent.

 

(a)          The
Company hereby represents and warrants to Parent and each Stockholder that:

 

(i)          Power;
Binding Agreement. The Company has the corporate power and authority to enter into and perform all of its obligations under
this Agreement. This Agreement has been duly and validly executed and delivered by the Company and constitutes a valid and binding
agreement of the Company, enforceable against the Company in accordance with its terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights
and to general equity principles.

 

    	3

    	 

    

 

(ii)         No
Conflicts. None of the execution and delivery of this Agreement by the Company, the consummation by the Company of any of the
transactions contemplated hereby or compliance by the Company with any of the provisions hereof (i) conflicts with, or results
in any breach of, any provision of the certificate of incorporation or by-laws of the Company, (ii) violates any order, writ, injunction,
decree, judgment, law, statute, rule or regulation applicable to the Company, any of its subsidiaries or any of their respective
properties or assets or (iii) except for the requirements of the Exchange Act, requires any filing with, or permit, authorization,
consent or approval of, any Governmental Entity, except in the case of clauses (ii) and (iii) where such violations or failures
to make or obtain any filing with, or permit, authorization, consent or approval of, any Governmental Entity would not, individually
or in the aggregate, materially impair the ability of the Company to perform this Agreement.

 

(b)          Parent
hereby represents and warrants to the Company and each Stockholder that:

 

(i)          Power;
Binding Agreement. Parent has the corporate power and authority to enter into and perform all of its obligations under this
Agreement. This Agreement has been duly and validly executed and delivered by Parent and constitutes a valid and binding agreement
of Parent, enforceable against Parent in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles.

 

(ii)         No
Conflicts. None of the execution and delivery of this Agreement by Parent, the consummation by Parent of any of the transactions
contemplated hereby or compliance by Parent with any of the provisions hereof (i) conflicts with, or results in any breach of,
any provision of the certificate of incorporation or by-laws of Parent, (ii) violates any order, writ, injunction, decree, judgment,
law, statute, rule or regulation applicable to Parent, any of its subsidiaries or any of their respective properties or assets
or (iii) except for the requirements of the Exchange Act, requires any filing with, or permit, authorization, consent or approval
of, any Governmental Entity, except in the case of clauses (ii) and (iii) where such violations or failures to make or obtain any
filing with, or permit, authorization, consent or approval of, any Governmental Entity would not, individually or in the aggregate,
materially impair the ability of Parent to perform this Agreement.

 

Section
4.          Disclosure. Unless required
by law or legal process, each Stockholder shall not, and shall cause its affiliates and representatives not to, make any press
release, public announcement or other public communication that criticizes or disparages this Agreement or the Merger Agreement
or the transactions contemplated hereby or thereby, without the prior written consent of Parent and the Company. Each Stockholder
(a) consents to and authorizes the publication and disclosure by Parent or the Company of such Stockholder’s identity and
ownership of the Securities and the existence and terms of this Agreement (including, for the avoidance of doubt, the disclosure
of this Agreement) and any other information, in each case, that Parent or the Company (including the Special Committee) reasonably
determines in its good faith judgment is required to be disclosed by law (including the rules and regulations of the Securities
and Exchange Commission) in any press release, any Current Report on Form 8-K, the Proxy Statement, the Schedule 13E-3 and any
other disclosure document in connection with the Merger Agreement and any filings with or notices to any Governmental Entity in
connection with the Merger Agreement (or the transactions contemplated thereby) and (b) agrees promptly to give to Parent and the
Company any information it may reasonable request for the preparation of any such documents.

 

Section
5.          Additional Securities.
Each Stockholder hereby agrees that, during the period commencing on the date hereof and continuing until this Agreement is terminated
in accordance with its terms, such Stockholder shall promptly (and in any event within twenty-four (24) hours) notify Parent and
the Company of the number of any additional Securities acquired by such Stockholder after the date hereof.

 

    	4

    	 

    

 

Section
6.          Transfer and Other Restrictions.
Prior to the termination of this Agreement, each Stockholder hereby irrevocably and unconditionally agrees not to, and to cause
each of its affiliates not to, directly or indirectly:

 

(a)          except
pursuant to the terms of the Merger Agreement, offer for sale, sell, transfer, tender, pledge, encumber, assign or otherwise dispose
of, or enter into any contract, option or other arrangement or understanding with respect to, or consent to the offer for sale,
sale, transfer, tender, pledge, encumbrance, assignment or other disposition of, or enter into a loan of (collectively, “transfer”),
any or all of the Securities it Beneficially Owns or any interest therein, (i) except as provided in Section 7 hereof or
(ii) unless each “person” (as defined in the Merger Agreement as of the date hereof) to which any of such Securities
it Beneficially Owns (or any interest in any of such Securities) is or may be transferred shall have: (A) executed a counterpart
of this Agreement and (B) agreed in writing to hold such Securities (or interest in such Securities) subject to all of the terms
and provisions of this Agreement;

 

(b)          grant
any proxy or power of attorney with respect to any of the Securities it Beneficially Owns, or deposit any of the Securities it
Beneficially Owns into a voting trust or enter into a voting agreement or arrangement with respect to any such Securities except
as provided in this Agreement; or

 

(c)          take
any other action that would prevent or materially impair the Stockholder from performing any of its obligations under this Agreement
or that would make any representation or warranty of such Stockholder hereunder untrue or incorrect or have the effect of preventing
or materially impairing the performance by the Stockholder of any of its obligations under this Agreement or that is intended,
or would reasonably be expected, to impede, frustrate, interfere with, delay, postpone, adversely affect or prevent the consummation
of the Merger or the other transactions contemplated by the Merger Agreement or this Agreement or the performance by the Company
of its obligations under the Merger Agreement or by any Stockholder of its obligations under this Agreement.

 

Any purported transfer in violation of this
Section 6 shall be null and void.

 

Section
7.          Voting of the Company Shares.
Each Stockholder hereby irrevocably and unconditionally agrees that, during the period commencing on the date hereof and continuing
until termination of this Agreement in accordance with its terms, at any meeting (whether annual or special and whether or not
an adjourned or postponed meeting) of the holders of the Company Shares, however called, each Stockholder and each of its affiliates
that acquires Beneficial Ownership of any Securities will appear at such meeting or otherwise cause the Securities to be counted
as present thereat for purposes of establishing a quorum and vote (or cause to be voted) the Securities in favor of the approval
of the Merger Agreement and the approval of other actions contemplated by the Merger Agreement and any actions required in furtherance
thereof.

 

    	5

    	 

    

 

Section
8.          Proxy Card. Each Stockholder
hereby irrevocably appoints Parent and any designee thereof as its proxy and attorney-in-fact (with full power of substitution),
to vote or cause to be voted (including by proxy or written consent, if applicable) the Securities in accordance with Section
7 at any annual or special meeting of the stockholders of the Company, however called, including any adjournment or postponement
thereof, at which any of the matters described in Section 7 is to be considered. Each Stockholder hereby represents that
all proxies, powers of attorney, instructions or other requests given by such Stockholder prior to the execution of this Agreement
in respect of the voting of such Stockholder’s Securities, if any, are not irrevocable and such Stockholder hereby revokes
(or causes to be revoked) any and all previous proxies, powers of attorney, instructions or other requests with respect to such
Stockholder’s Securities. Each Stockholder shall take such further action or execute such other instruments as may be necessary
to effectuate the intent of this proxy.

 

Section
9.          Termination. This Agreement
shall terminate on the earliest to occur of: (a) termination of the Merger Agreement in accordance with its terms, (b) delivery
of a written agreement of Parent and, at the direction of the Special Committee, the Company to terminate this Agreement and (c)
the Effective Time; provided, that the provisions set forth in Section 4 and Section 10 shall survive the
termination of this Agreement; provided, further, that any liability incurred by any party hereto as a result of
a breach of a term or condition of this Agreement prior to such termination shall survive the termination of this Agreement.

 

Section
10.         Miscellaneous.

 

(a)        Entire
Agreement. This Agreement (including the documents and instruments referred to herein) constitutes the entire agreement among
the parties hereto with respect to the subject matter hereof, and supersedes all other prior agreements and understandings, both
written and oral, among the parties, with respect to the subject matter hereof.

 

(b)        Successors
and Assigns. This Agreement shall not be assigned by operation of law or otherwise without the prior written consent of the
other parties hereto. This Agreement shall be binding upon, inure to the benefit of and be enforceable by each party, and each
party’s respective heirs, beneficiaries, executors, representatives, successors and assigns.

 

(c)        Amendment;
Modification and Waiver. This Agreement may not be amended, altered, supplemented or otherwise modified or terminated except
upon the execution and delivery of a written agreement executed by (i) each Stockholder, (ii) the Company, but only upon the approval
of the Special Committee and (iii) Parent.

 

(d)        No
Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in the Company any direct or indirect ownership
or incident of ownership of or with respect to any Securities. All rights, ownership and economic benefits of and relating to the
Securities shall remain vested in and belong to each Stockholder and its respective affiliates, if any.

 

(e)        Interpretation.
When a reference is made in this Agreement to sections or subsections, such reference shall be to a section or subsection of this
Agreement unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect
in any way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes” or
“including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”
The words “herein,” “hereof,” “hereunder” and words of similar import shall be deemed to refer
to this Agreement as a whole, including any schedules and exhibits hereto, and not to any particular provision of this Agreement.
Any pronoun shall include the corresponding masculine, feminine and neuter forms. References to “party” or “parties”
in this Agreement means each Stockholder, the Company and Parent. References to “US dollar,” “dollars,”
“US$ “ or “$ “ in this Agreement are to the lawful currency of the United States of America.

 

    	6

    	 

    

 

(f)          Notices.
All notices, requests, claims, demands and other communications hereunder shall be in writing (in the English language) and shall
be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by facsimile, by registered or certified
mail (postage prepaid, return receipt requested) or by electronic email transmission (so long as a receipt of such e-mail is requested
and received) to the respective parties at the following addresses (or at such other address for a party as shall be specified
by like notice):

 

		(i)	if to a Stockholder to such Stockholder in accordance with
the contact information set forth next to such Stockholder’s name on Schedule A, with a copy to (which shall not constitute
notice):

 

Skadden, Arps, Slate, Meagher &
Flom

30th Floor, China World
Office 2

1 Jianguomenwai Avenue

Beijing 100004, PRC

 

Attention: Michael
V. Gisser, Esq.

Peter X. Huang,
Esq.

E-mail: 
Michael.Gisser@skadden.com

Peter.Huang@skadden.com

Facsimile:
+86 10 6535 5577

 

		(ii)	if to the Company, to:

 

Fushi Copperweld, Inc.

TYG Center Tower B, Suite 2601

Dongsanhuan Bei Lu, Bing 2

Beijing, PRC 100027

 

Attention: Joseph J. Longever

E-mail: jlongever@fushicopperweld.com

Facsimile: +86 10 8447 8292

 

with a copy (which shall not
constitute notice) to each of:

 

Gibson, Dunn & Crutcher LLP

200 Park Avenue

New York, New York 10166

 

Attention: Dennis J. Friedman,
Esq.

Eduardo Gallardo, Esq.

E-mail: DFriedman@gibsondunn.com

EGallardo@gibsondunn.com

Facsimile: +1 212-351-5245

 

and

 

    	7

    	 

    

 

Loeb & Loeb LLP

345 Park Avenue

New York, New York 10154

 

		Attention:	Mitchell S. Nussbaum

		E-mail:	mnussbaum@loeb.com

		Facsimile:	+1 212-504-3013

 

(iii)        if
to Parent, to:

 

c/o Fushi Copperweld,
Inc.

TYG Center Tower B, Suite
2601

Dongsanhuan Bei Lu, Bing
2

Beijing, 100027, PRC

 

Attention: Li Fu

E-mail: cwang@fushicopperweld.com

Facsimile: +86 10 8447
8292

 

with a copy to (which shall not
constitute notice):

 

Weil, Gotshal & Manges

29/F, Alexandra House

18 Chater Road

Central, Hong Kong

 

Attention: Akiko Mikumo, Esq.

E-mail: akiko.mikumo@weil.com

Facsimile: +852 3015-9354

 

and

 

Skadden, Arps, Slate, Meagher &
Flom

30th Floor, China World
Office 2

1 Jianguomenwai Avenue

Beijing 100004, PRC

 

Attention: Michael V. Gisser, Esq.

Peter X. Huang, Esq.

E-mail:   Michael.Gisser@skadden.com

Peter.Huang@skadden.com

Facsimile: +86 10 6535 5577

 

(g)          Severability.
In the event that any provision of this Agreement or the application thereof, becomes or is declared by a court of competent jurisdiction
to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application
of such provision to other persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto.
The parties further agree to replace such void or unenforceable provision of this Agreement with a valid and enforceable provision
that will achieve, to the extent possible, the economic, business and other purposes of such void or unenforceable provision.

 

    	8

    	 

    

 

(h)          Other
Remedies; Specific Performance. Except as otherwise provided herein, any and all remedies herein expressly conferred upon a
party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party,
and the exercise by a party of any one remedy will not preclude the exercise of any other remedy. No failure or delay on the part
of any party hereto in the exercise of any right hereunder will impair such right or be construed to be a waiver of, or acquiescence
in, any breach of any representation, warranty or agreement herein, nor will any single or partial exercise of any such right preclude
other or further exercise thereof or of any other right. The parties hereto agree that irreparable damage would occur in the event
that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached
or threatened to be breached. It is accordingly agreed that each party shall be entitled to seek an injunction or injunctions to
prevent breaches or threatened breaches of this Agreement and to enforce specifically the terms and provisions hereof in the federal
courts of the United States of America located in Nevada, this being in addition to any other remedy to which they are entitled
at law or in equity, without the requirement to post bond or other security.

 

(i)          No
Survival. None of the representations, warranties, covenants and agreements made in this Agreement shall survive the termination
of the Agreement in accordance with its terms, except for the agreements in Section 4 and this Section 10.

 

(j)          No
Third Party Beneficiaries. This Agreement is not intended to confer upon any person other than the parties hereto any rights
or remedies hereunder.

 

(k)          Governing
Law. This Agreement and all disputes or controversies arising out of or relating to this Agreement or the transactions contemplated
hereby shall be governed by, and construed in accordance with, the internal laws of the State of Nevada, without regard to the
laws of any other jurisdiction that might be applied because of the conflicts of laws principles of the State of Nevada.

 

(l)          Jurisdiction.
Each of the parties irrevocably agrees that any legal action or proceeding arising out of or relating to this Agreement brought
by any such party or its affiliates against any other such party or its affiliates shall be brought and determined in the courts
of the State of Nevada located in Clark County, Nevada or the federal courts of the United States of America located in Nevada.
Each of the parties hereby irrevocably submits to the jurisdiction of the aforesaid courts for itself and with respect to its property,
generally and unconditionally, with regard to any such action or proceeding arising out of or relating to this Agreement and the
transactions contemplated hereby. Each of the parties agrees not to commence or maintain any action, suit or proceeding relating
thereto except in the courts described above, other than actions in any court of competent jurisdiction to enforce any judgment,
decree or award rendered by any such court in Nevada as described herein. Each of the parties further agrees that notice as provided
herein shall constitute sufficient service of process and the parties further waive any argument that such service is insufficient.
Each of the parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense,
counterclaim or otherwise, in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby, (i) any claim that it is not personally subject to the jurisdiction of the courts in Nevada as described herein for any
reason, (ii) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced
in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution
of judgment or otherwise), and (iii) that (A) the suit, action or proceeding in any such court is brought in an inconvenient forum,
(B) the venue of such suit, action or proceeding is improper, or (C) this Agreement, or the subject matter hereof, may not be enforced
in or by such courts.

 

    	9

    	 

    

 

(m)          Waiver
of Jury Trial. EACH PARTY TO THIS AGREEMENT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN
ANY JUDICIAL PROCEEDING IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

(n)          Expenses.
All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the
party incurring such expenses.

 

(o)          Counterparts.
This Agreement may be executed in one or more counterparts, and by facsimile or .pdf format, all of which shall be considered one
and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered
to the other party, it being understood that all parties need not sign the same counterpart; provided, however, that if any Stockholder
fails for any reason to execute, or perform its obligations under, this Agreement, this Agreement shall remain effective as to
all parties executing this Agreement.

 

[Signatures appear on following page.]

 

    	10

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have signed or have caused this Agreement to be signed by their respective officers or other authorized persons
thereunto duly authorized as of the date first written above.

 

	 	GREEN DYNASTY LIMITED
	 	 
	 	By:	 /s/ Li Fu
	 	Name:  	Li Fu
	 	Title:	Director
	 	 
	 	FUSHI COPPERWELD, INC.
	 	 
	 	By:	 /s/ Craig H. Studwell
	 	Name:	Craig H. Studwell
	 	Title:	Chief Financial Officer

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

    	 

    	 

    

 

	 	STOCKHOLDERS:
	 	 
	 	By:	/s/ Li Fu
	 	Li Fu
	 	 
	 	By:	/s/ Yuyan Zhang
	 	Yuyan Zhang
	 	 
	 	By:	/s/ Xin Liu
	 	Xin Liu
	 	 
	 	Wise Sun Investments Limited
	 	 
	 	By:	/s/ Li Fu
	 	Name:  	Li Fu
	 	Title:	Director
	 	 
	 	ABAX LOTUS LTD.
	 	 
	 	By:	/s/ Xiang Dong Yang
	 	Name:	Xiang Dong Yang
	 	Title:	Director

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

    	 

    	 

    

 

Schedule A

 

	Stockholder	 	Company Shares	 
	Li Fu	 	 	1,806,723	 
	 	 	 	 	 
	Yuyan Zhang	 	 	179,925	 
	 	 	 	 	 
	Xin Liu	 	 	1,118,418	 
	 	 	 	 	 
	Wise Sun Investments Limited	 	 	7,930,090	 
	 	 	 	 	 
	Abax Lotus Ltd.	 	 	205,050

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}]]