Document:

EX-10.12

 Exhibit 10.12 

[EXECUTION VERSION] 
  

 
  

NOMINATION AND VOTING AGREEMENT 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
			
	 1.
	 	Definitions	  	 	1	 
			
	 2.
	 	Designation Right	  	 	2	 
			
	 3.
	 	Nomination	  	 	2	 
			
	 4.
	 	Voting Agreement	  	 	3	 
			
	 5.
	 	Representations and Warranties of the Company	  	 	4	 
			
	 6.
	 	Representations and Warranties of the Holder	  	 	4	 
			
	 7.
	 	Representations and Warranties of the Voting Holders	  	 	4	 
			
	 8.
	 	Indemnification Agreement	  	 	5	 
			
	 9.
	 	Termination	  	 	5	 
			
	 10.
	 	Miscellaneous	  	 	5	 

 NOMINATION AND VOTING AGREEMENT 

THIS NOMINATION AND VOTING AGREEMENT (this
“Agreement”), dated as of October 11, 2017, is made by and among ACM Research, Inc., a Delaware corporation (the “Company”), Xinxin (Hongkong) Capital Co., Limited (the “Holder”), and the several
individuals and entities named on SCHEDULE I (the “Voting Holders”). Certain capitalized terms used herein are defined in Section 1. 

RECITALS 
 A. The
Investors propose to purchase the Shares pursuant to the Purchase Agreement. 
 B. In connection with the Purchase Agreement and the
Holder’s acquisition of the Shares, the Holder desires to have the right, commencing as of the Closing, to identify a Designee for nomination and election to the Board at any Stockholder Meeting. 

C. The Board has deemed it to be in the best interests of the Company and its stockholders to (i) elect the Designee to the Board
effective upon the Closing and (ii) include the Designee in its slate of nominees for election as a director of the Company at each Stockholder Meeting thereafter during the term of this Agreement. 

D. In consideration of the transactions contemplated by the Purchase Agreement, each of the Voting Holders desires to vote such Voting
Holder’s Voting Shares in favor of the election of the Designee at each such Stockholder Meeting, on the terms and conditions contained herein. 

In consideration of and reliance upon the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, intending to be legally bound, the parties hereto agree as follows: 
 1.
Definitions. 
 (a) “Affiliate” means, with respect to any specified Person, any other Person who,
directly or indirectly, controls, is controlled by, or is under common control with such Person, including any general partner, managing member, officer or director of such Person or any venture capital fund now or hereafter existing that is
controlled by one or more general partners or managing members of, or shares the same management company with, such Person. 

(b) “Board” means the board of directors of the Company. 

(c) “Business Day” means any day other than (i) a Saturday or Sunday or (ii) a day on which the
Federal Reserve Bank of San Francisco is closed. 
 (d) “Closing” has the meaning set forth in the Purchase
Agreement. 
 (e) “Designee” means an individual designated by the Holder for purposes of this Agreement.

 (f) “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 

(g) “Expiration Date” means the first date on which the Holder and its Affiliates collectively hold fewer
than 625,000 of the Shares. 
 (h) “Holder Observer” has the meaning set forth in Section 4(c).

 (i) “Investors” means the Holder and the other
“Purchasers” named in the Purchase Agreement. 
 (j) “Purchase Agreement” means the Stock Purchase
Agreement being entered into as of the date hereof among the Company and the Investors. 
 (k) “Shares”
means the shares of the Company’s Class A Common Stock to be sold to the Investors at the Closing pursuant to the Purchase Agreement. 

(l) “Stockholder Meeting” means any annual or special meeting of the Company’s stockholders at which
directors of the Company are to be elected and that is held after the date of the Closing and before the Expiration Date. 

(m) “Voting Shares” means, with respect to a Voting Holder, all shares of capital stock of the Company for
which such Voting Holder either is the holder of record or otherwise has the power to direct the voting. 
 2. Designation Right.

 (a) Prior to the Closing, the Board shall vote unanimously to elect to the Board, effective upon the Closing,
                    , as the initial Designee. The Company confirms its understanding that the election of
[Mr.][Ms.]              to the Board effective upon the Closing is a condition precedent to the Holder’s obligation to purchase the Shares at the Closing. 

(b) Following the Closing and continuing until the Expiration Date, the Holder shall have the right, but not the obligation, to
designate one person for nomination and election to the Board on the terms and conditions contained herein. 
 3. Nomination. Subject
to Section 2(b): 
 (a) The Company shall use commercially reasonable efforts to include the Designee in its
slate of nominees for election as a director of the Company at each Stockholder Meeting. 
 (b) As a condition of the
Designee’s election to the Board effective upon the Closing and any subsequent nomination for election of the Designee to the Board at a Stockholder Meeting, the Holder shall provide to the Company information required, together with any
information reasonably determined by the Company (based upon the advice of its U.S. securities counsel and consistent with requests made by the Company of other similarly situated directors) to be appropriate, (i) for disclosure for directors,
candidates for directors, and Affiliates of directors or director candidates in a proxy statement or any other filing by the Company under applicable law or stock exchange rules or listing standards, (ii) in connection with assessing
eligibility, independence and other criteria applicable to directors or satisfying compliance and legal obligations, or (iii) in connection with the nomination and election of the Designee at a Stockholder Meeting. 

(c) In the event of a vacancy on the Board created by the resignation, removal or death of a Designee, the Holder may identify
a replacement Designee, in which case: 
  

	 	(i)	 if at such time (A) the Voting Shares of the Voting Holders, together with the Shares held by the Holder,
represent a majority of the voting power needed to elect directors and (B) the certificate of incorporation of the Company, as then amended or restated, does not prohibit stockholders of the Company from acting by written consent in lieu of a
meeting, then, within ten Business Days after receiving a written 

  
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request from the Holder, the Voting Holders and the Holder shall deliver a written consent of stockholders electing the replacement Designee as a member of the Board; or 

 

	 	(ii)	if the Voting Holders and the Holder are unable, or otherwise fail for any reason, to deliver a written consent of stockholders in accordance with the preceding clause (i), then, upon receipt of a written request
from the Holder, the Chairman of the Board shall, to the extent not precluded by applicable fiduciary duties or other legal requirements, either (A) include in the agenda for the next scheduled meeting of the Board the consideration of the
replacement Designee for election as a member of the Board or (B) if the next meeting of the Board is not scheduled for a date within twenty Business Days after the Chairman of the Board receives such written request from the Holder, then the
Chairman of the Board shall provide to members of the Board for their consideration a form of unanimous written consent of directors setting forth a resolution for the election of the replacement Designee as a member of the Board. 

Notwithstanding the foregoing, if such vacancy is created between the date on which a proxy statement is mailed with respect to a Stockholder
Meeting and the date on which such Stockholder Meeting is held, then, in lieu of the foregoing, the Company shall use commercially reasonable efforts to include the replacement Designee in its slate of nominees for election as a director of the
Company at such Stockholder Meeting, including, subject to receipt of required consents and approvals of the Board and to the Holder’s provision of the information described in Section 3(b), to amend such proxy statement as necessary to
include the replacement Designee as a director nominee. 
 4. Voting Agreement. Subject to Section 2: 

(a) Each Voting Holder shall appear in person or by proxy at each Stockholder Meeting, shall vote (or cause to be voted) all of
such Voting Holder’s Voting Shares in favor of the election of the Designee to the Board at each Stockholder Meeting at which the Designee is a Board nominee, and shall not vote in favor of the removal of the Designee except at the
Holder’s request. 
 (b) Solely in the event of a failure by a Voting Holder to act in accordance with
Section 4(a) within ten Business Days (as defined in Section 10(d)) of such Voting Holder’s receipt of a written request by the Company or any other party for his consent or signature in connection with the election of
the Designee at a Stockholder Meeting, such Voting Holder hereby irrevocably grants to and appoints the Holder (and any Affiliate thereof) as such Voting Holder’s proxy and
attorney-in-fact (with full power of substitution), for and in the name, place and stead of such Voting Holder, to (i) represent such Voting Holder’s Voting
Shares at such Stockholder Meeting for quorum purposes and (ii) vote the Voting Shares at such Stockholder Meeting in accordance with Section 4(a) until, subject to applicable law, the Expiration Date, to the same extent and with
the same effect as such Voting Holder could do under applicable law. Each Voting Holder intends that the proxy granted by such Voting Holder pursuant to this Section 4(b) be irrevocable and coupled with an interest and hereby revokes any
proxy previously granted by such Voting Holder with respect to such Voting Holder’s Voting Shares. Each Voting Holder hereby ratifies and confirms all actions that the proxy appointed hereunder may lawfully do or cause to be done in accordance
with this Agreement. Notwithstanding the foregoing, each Voting Holder’s proxy pursuant to this Section 4(b) shall automatically be revoked on the Expiration Date. The Holder may terminate this proxy with respect to any Voting
Holder at any time at its sole election by written notice provided to such Voting Holder. 

  
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 (c) Notwithstanding any other provision in this Agreement to the contrary, at any
time the Designee is not serving as a member of the Board, the Holder shall have the right to designate one individual (the “Holder Observer”) who will be permitted to (i) attend and observe, but not otherwise participate in,
all meetings of the Board and (ii) receive (on a concurrent basis) all notices and other information provided by the Company to directors in their capacity as directors, except that (A) as a condition to allowing the Holder Observer to
attend meetings of the Board or to receive any information, the Company may require that the Holder Observer execute a confidentiality agreement, reasonably satisfactory in form and substance to the Company, with respect to the information to be
provided, or the matters to be discussed, at any meeting of the Board and (B) the Company may exclude the Holder Observer from any meeting of the Board, or any portion thereof, or deny access to any information or portion thereof provided to
directors, if the Company reasonably determines that the Holder Observer’s participation in such meeting, or access to such applicable information, could (1) result in a waiver of the attorney-client privilege (based on the advice of
Company counsel) with respect to any matters to be discussed or any matters included in the information to be distributed, (2) cause the Company to violate obligations with respect to confidential or proprietary information of third parties,
provided that the Holder Observer shall not be so excluded from any such meeting, or denied access to any such information, unless the Company also excludes all other persons whose participation in such meeting, or receipt of such
information, could result in a violation of such third-party obligations, or (3) pose an actual or potential conflict of interest for the Holder, any of its Affiliates or the Holder Observer. 

5. Representations and Warranties of the Company. The Company represents and warrants to the Holder as follows: 

(a) The Company has the power and authority to execute, deliver and carry out the terms and provisions of this Agreement and to
perform its obligations hereunder. 
 (b) This Agreement has been duly and validly authorized, executed and delivered by the
Company and, assuming due execution and delivery by the other parties, constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms. 

6. Representations and Warranties of the Holder. The Holder represents and warrants to the Company and each of the Voting Holders as
follows: 
 (a) The Holder has the power and authority to execute, deliver and carry out the terms and provisions of this
Agreement and to perform its obligations hereunder. 
 (b) This Agreement has been duly and validly authorized, executed and
delivered by the Holder and, assuming due execution and delivery by the other parties, constitutes a valid and binding obligation of the Holder, enforceable against the Holder in accordance with its terms. 

7. Representations and Warranties of the Voting Holders. Each of the Voting Holders severally, but not jointly, represents and warrants
to the Holder as follows: 
 (a) If such Voting Holder is an entity, it (i) has the power and authority to execute,
deliver and carry out the terms and provisions of this Agreement and to perform its obligations hereunder and (ii) has duly and validly authorized the execution and delivery of this Agreement. 

(b) This Agreement has been duly and validly executed and delivered by such Voting Holder and, assuming due execution and
delivery by the other parties, constitutes a valid and binding obligation of such Voting Holder, enforceable against such Voting Holder in accordance with its terms. 

  
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 8. Indemnification Agreement.
                    , as the initial Designee, shall be offered the opportunity to enter into, effective as of the Closing, an indemnification
agreement with the Company in the form of Exhibit A. The Company confirms that the indemnification agreement attached as Exhibit A is consistent in all material respects with the form previously approved by the Board and the stockholders
of the Company for execution with, and delivery to, members of the Board from time to time. 
 9. Termination. This Agreement shall
automatically terminate without further action by any of the parties hereto as of the Expiration Date. Upon termination of this Agreement, no party shall have any further obligations or liabilities under this Agreement, provided that
(i) nothing set forth in this Section 9 shall relieve any party from liability for any breach of this Agreement occurring prior to the termination hereof and (ii) the provisions of this Section 9 and
Section 10 shall survive any termination of this Agreement. 
 10. Miscellaneous. 

(a) Governing Law; Forum and Remedies. The internal laws of the State of Delaware, irrespective of its conflicts of law
principles, shall govern the validity of this Agreement, the construction of its terms, and the interpretation and enforcement of the rights and duties of the parties hereto. The parties hereto hereby irrevocably submit to the exclusive jurisdiction
of first, the Court of Chancery in the State of Delaware (and any appellate court thereof) and to the extent such Court of Chancery (or appellate court thereof) lacks jurisdiction over the matter, the Federal courts of the United States of America
located in the State of Delaware (or appellate court thereof located within such county) solely in respect of the interpretation and enforcement of the provisions of this Agreement and of the documents referred to in this Agreement, and in respect
of the transactions contemplated hereby and thereby, and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or thereof, that it is not subject thereto or that such
action, suit or proceeding may not be brought or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement or any such document may not be enforced in or by such courts, and the parties hereto
irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined in such a Delaware state or Federal court. The parties hereby consent to and grant any such court jurisdiction over the person of such parties
and over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such action or proceeding in the manner provided in Section 10(d), shall be valid and sufficient service thereof. Except
as otherwise expressly provided herein, any and all remedies herein expressly conferred upon a party hereunder shall be deemed cumulative with and not exclusive of any other remedy conferred hereby or by law on such party, and the exercise of any
one remedy shall not preclude the exercise of any other. 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. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof, in accordance with this
Section 10(a). 
 (b) Amendments; No Waiver. This Agreement may be amended, modified or waived if, and
only if, such amendment, modification or waiver is in writing and signed, in the case of an amendment or modification, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective. Any waiver
by any party of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement. The failure of a party to insist upon
strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. 

  
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 (c) Entire Agreement. This Agreement constitutes the sole and entire
agreement of the parties to this Agreement with respect to the subject matter contained herein. 
 (d) Notices. All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon (i) personal delivery to the party to be notified, (ii) if sent by electronic mail, then (A) when
sent, if sent between 9 a.m. and 5 p.m., Pacific time, on a Business Day or (B) as of 9 a.m. Pacific time on the next Business Day, if sent at any other time, (iii) if sent by U.S. registered or certified mail, return receipt requested,
postage prepaid, the earlier of actual receipt and the fifth Business Day after having been deposited with the U.S. Postal Service, or (iv) if sent via an internationally recognized overnight courier, freight prepaid, specifying next or two
Business Day delivery, with written verification of receipt, two Business Days after deposit with such courier. All communications shall be sent to the Company or the Holder at their respective addresses set forth below or to any Voting Holder at
such Voting Holder’s address as set forth on Schedule I or to such other street or email address as subsequently modified by written notice given in accordance with this Section 10(d). 

If to the Company: 

ACM Research, Inc. 

42307 Osgood Road, Suite I 

Fremont, California 94539 

Attention:   David H. Wang 

Email:         dwang@acmrcsh.com 

With a copy to (which shall not constitute notice) 

K&L Gates LLP 

State Street Financial Center 

One Lincoln Street 

Boston, MA 02111-2950 

Attention:   Mark L. Johnson 

Email:         mark.johnson@klgates.com 

If to the Holder: 

Xinxin (Hongkong) Capital Co., Limited 

3rd Floor North, No. 7 Financial Street 

Xicheng District, Beijing 100033, P. R. China 

Attention: Qian Zhao 

Email:       zhaoqian@ic-capital.com 

(e) Severability. If at any time subsequent to the date hereof, any provision of this Agreement shall be held by any
court of competent jurisdiction to be illegal, void or unenforceable, such provision shall be of no force and effect, but the illegality or unenforceability of such provision shall have no effect upon the legality or enforceability of any other
provision of this Agreement. 
 (f) Counterparts. This Agreement may be executed in counterparts, each of which shall
be deemed an original but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf) or other transmission method and any counterpart so delivered shall be deemed
to have been duly and validly delivered and be valid and effective for all purposes. 

  
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 (g) Successors and Assigns. This Agreement and the rights hereunder shall
not be assignable or assigned, directly or indirectly, by operation of law or otherwise, by any of the parties to this Agreement. 

(h) No Third Party Beneficiaries. This Agreement is solely for the benefit of the parties hereto and is not enforceable
by any other persons. 
 (i) Fees and Expenses. All costs and expenses incurred in connection with this Agreement
shall be paid by the party incurring such cost or expense. 
 (j) Interpretation and Construction. For purposes of
this Agreement: 
  

	 	(i)	headings used in this Agreement are for convenience of reference only and shall not, for any purpose, be deemed a part of this Agreement; 

 

	 	(ii)	any references herein to a Section or Exhibit refer to a Section of, or Exhibit attached to, this Agreement, unless specified otherwise; 

 

	 	(iii)	the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a whole; 

 

	 	(iv)	the words “include,” “includes” and “including” as used herein shall not be construed so as to exclude any other thing not referred to or described; 

 

	 	(v)	the word “or” is not exclusive; 

  

	 	(vi)	the definition given for any term in this Agreement shall apply equally to both the singular and plural forms of the term defined; 

  

	 	(vii)	whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms; 

  

	 	(viii)	unless the context otherwise requires, (i) references herein to an agreement, instrument or other document mean such agreement, instrument or other document as amended, supplemented and modified from time to time
to the extent permitted by the provisions thereof and (ii) references herein to a statute means such statute as amended from time to time and includes any successor legislation thereto and any rules and regulations promulgated thereunder; and

  

	 	(ix)	this Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, each of the parties has executed
this Agreement or caused the same to be executed by its duly authorized representative as of the date first written above. 
  

			
	ACM RESEARCH, INC.
		
	By:	 	 /s/ David H. Wang

		 	David H. Wang
		 	Chief Executive Officer and President
	
	XINXIN (HONGKONG) CAPITAL CO., LIMITED
		
	By:	 	 /s/ Xinxin (Hongkong) Capital Co., Limited

		 	Name:
		 	Title:
	
	VOTING HOLDERS:
	
	DAVID H. WANG
	
	 /s/ David H. Wang

	
	JING CHEN
	
	 /s/ Jing Chen

	
	BRIAN WANG
	
	 /s/ Brian Wang

	
	SOPHIA WANG
	
	 /s/ Sophia Wang

	
	HAIPING DUN
	
	 /s/ Haiping Dun

 SIGNATURE PAGE—NOMINATION AND
VOTING AGREEMENT 

 EXHIBIT A 

Form of Indemnification Agreement 

 SCHEDULE I 

VOTING HOLDERS 
  

	
	 Name and Address

	 David H. Wang

	
	 Jing Chen

	
	 Brian Wang

	
	 Sophia Wang

	
	 Haiping DunEX-10.13

 Exhibit 10.13 

VOTING AGREEMENT 

THIS VOTING AGREEMENT (this “Agreement”) is made and entered into as of
March 23, 2017, by and among ACM Research, Inc. (the “Company”), Shanghai Technology Venture Capital Co., Ltd. (“STVC”), and each holder of the Company’s Class B common stock, $0.0001 par value per
share (the “Class B Stock”), listed on SCHEDULE A (collectively with any subsequent investors, or transferees, who become parties hereto as “Stockholders” pursuant to Section 4.1 or
4.2, the “Stockholders”). 
 WHEREAS, concurrently with the execution of this Agreement, the Company and
STVC are entering into a Securities Purchase Agreement providing for the sale of shares (the “Shares”) of the Company’s Series E preferred stock, $0.0001 par value per share (“Series E Stock”), to STVC,
and in connection with that agreement the parties desire to provide STVC with rights regarding STVC’s designation of one nominee to serve as a member of the board of directors of the Company (the “Board”) in accordance with the
terms of this Agreement. 
 NOW, THEREFORE, the parties agree as follows: 

1.    Voting Provisions Regarding Board. 

1.1    Board Composition. Subject to and effective upon the parties’ execution and delivery of this Agreement, the
Board has approved an increase in the size of the Board by one seat and the appointment of Xiang, Yinan, who has been designated by STVC, to fill such vacancy. For so long as STVC beneficially owns (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) (x) all of the Shares that have not been converted into shares of the Company’s Class A Common Stock, $0.0001 par value per share, in
accordance with the terms of the Company’s Certificate of Incorporation, as amended and restated from time to time, (y) all of the shares of such Class A Common Stock into which any or all of the Shares have been so converted, and
(z) all of the shares of any voting capital stock then: 
  

	 	(a)	the Company will include one individual designated by STVC (the “Designee”) in any slate of nominees for election as directors of the Company at each annual meeting of stockholders of the Company held
after the date of this Agreement, including any adjournment, recess or postponement of any such meeting, or in connection with any written consent of the stockholders of the Company in lieu of such an annual meeting (each, a “Stockholder
Vote”); 

  

	 	(b)	the Company will use its reasonable best efforts to cause the election of the Designee to the Board in connection with any Stockholder Vote for which the Company is required to include the Designee in its slate of
nominees pursuant to clause (a) above and to otherwise support the Designee for election to the Board in a manner no less rigorous and favorable than the manner in which the Company supports its other nominees in the aggregate in connection
with such Stockholder Vote; and 

  

	 	(c)	in connection with each Stockholder Vote for which the Company is required to include the Designee in its slate of nominees pursuant to clause (a) above, each Stockholder will, to the extent that its Covered Shares
(as defined below) are entitled to vote thereon or consent thereto: (i) appear at any meeting for a Stockholder Vote or otherwise cause all of its Covered Shares to be counted as present thereat for purposes of calculating a quorum; and
(ii) vote (or cause to be voted), in person or by proxy, or deliver (or cause to be delivered) a written consent covering, all of its Covered Shares in favor of the election of the Designee. 

 “Covered Shares” means, with respect to a Stockholder, any shares of voting capital stock of the
Company that are beneficially owned by the Stockholder on the date hereof, together with any other shares of voting capital stock of the Company that the Stockholder acquires beneficial ownership of after the date of this Agreement. 

1.2    Failure to Designate a Nominee. In the absence of any designation by STVC, the director previously
designated by it and then serving shall be deemed the Designee for purposes of Section 1.1 if still eligible to serve as provided herein. 

1.3    Removal of Board Member. Each Stockholder also agrees to vote, or cause to be voted, all of its Covered
Shares, at each Stockholder Vote, in whatever manner as shall be necessary for the purpose of providing that: 
  

	 	(a)	no Designee serving on the Board may be removed from office other than for cause unless (i) such removal is directed or approved by STVC or (ii) STVC is no longer entitled to designate a Designee;

  

	 	(b)	any vacancy created by the resignation, removal or death of a Designee shall be filled pursuant to the provisions of this Section 1 or otherwise in accordance with the Company’s certificate of incorporation
(as may be amended), provided any such person shall be approved by STVC in advance; and 

  

	 	(c)	upon the request of STVC, a Designee is removed from the Board. 

1.4    No Liability for Election of Designee. Neither STVC, nor any affiliate of STVC, shall have any liability as
a result of designating a person for election as a director for any act or omission by such Designee in his or her capacity as a director of the Company, nor shall any Stockholder have any liability as a result of voting for any such Designee in
accordance with the provisions of this Agreement. 
 2.    Remedies. 

2.1    Specific Enforcement. The Company and the Stockholders acknowledge and agree that STVC will be irreparably
damaged in the event any of the provisions of Section 1 are not performed by the Company or any Stockholder in accordance with their specific terms or are otherwise breached. Accordingly, it is agreed that STVC shall be entitled to an
injunction to prevent breaches of this Agreement, and to specific enforcement of this Agreement and its terms and provisions in any action instituted in any court of the United States or any state having subject matter jurisdiction. 

2.2    Remedies Cumulative. All remedies, either under this Agreement or by law or otherwise afforded to any party,
shall be cumulative and not alternative. 
 3.    Term. This Agreement shall be effective as of the date hereof
and shall continue in effect until and shall terminate automatically upon the earlier to occur of (a) termination in accordance with Section 4.8 and (b) the first date on which STVC is no longer entitled to designate a Designee. 

4.    Miscellaneous. 

4.1    Additional Parties. If the Company issues additional shares of Series E Stock after the date hereof, as a
condition to the issuance of such shares the Company shall require that any purchaser thereof become a party to this Agreement by executing and delivering (i) the Adoption Agreement attached to this Agreement as Exhibit A or (ii) a
counterpart signature page hereto agreeing to be bound by and subject to the terms of this Agreement as a Stockholder hereunder. In either event, each such 

  

					
		  		  	
		  	2	  	

 
person shall thereafter be deemed a Stockholder for all purposes under this Agreement. Nothwithstanding the foregoing, no purchaser of Series E Stock shall be required to become a party to this
Agreement if, immediately after its purchase of shares, STVC and the other Stockholders, if any, party to this Agreement collectively beneficially own a majority of the then-outstanding shares of Series E Stock 

4.2    Transfers. Each transferee or assignee of any Class B Stock or Series E Stock subject to this Agreement
shall continue to be subject to the terms hereof, and, as a condition precedent to the Company’s recognizing such transfer, each transferee or assignee shall agree in writing to be subject to each of the terms of this Agreement by executing and
delivering an Adoption Agreement substantially in the form attached hereto as Exhibit A. Upon the execution and delivery of an Adoption Agreement by any transferee, such transferee shall be deemed to be a party hereto as if such transferee
were the transferor and such transferee’s signature appeared on the signature pages of this Agreement and shall be deemed to be a Stockholder. The Company shall not permit the transfer of the Class B Stock or Series E Stock subject to this
Agreement on its books or issue a new certificate representing any such stock unless and until such transferee shall have complied with the terms of this Section 4.2. Each certificate instrument representing shares of Class B Stock or
Series E Stock subject to this Agreement if issued on or after the date of this Agreement shall be notated by the Company with an appropriate legend indicating the requirements under this Section 4.2. 

4.3    Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be
binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

4.4    Governing Law. This Agreement shall be governed by the internal law of the State of Delaware. 

4.5    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but
which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly
delivered and be valid and effective for all purposes. 
 4.6    Headings. The headings used in this Agreement
are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

4.7    Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing
and shall be deemed effectively given upon (a) personal delivery to the party to be notified, (b) if sent by electronic mail, then (i) when sent, if sent between 9 a.m. and 5 p.m., Pacific time, on a Business Day or (ii) as of 9
a.m. Pacific time on the next Business Day, if sent at any other time, (c) if sent by U.S. registered or certified mail, return receipt requested, postage prepaid, the earlier of actual receipt and the fifth Business Day after having been
deposited with the U.S. Postal Service, or (d) if sent via an internationally recognized overnight courier, freight prepaid, specifying next or two Business Day delivery, with written verification of receipt, two Business Days after deposit
with such courier. “Business Day” means any day other than (a) a Saturday or Sunday or (b) a day on which the Federal Reserve Bank of San Francisco is closed. All communications shall be sent to the respective parties at their
email or street address as set forth on SCHEDULE A, or to such email or street address as subsequently modified by written notice given in accordance with this Section 4.7. If notice is given to the
Company, a copy shall also be sent to K&L Gates LLP, One Lincoln Street, Boston, MA 02111, Attn: Mark L. Johnson, and if notice is given to any or all of the Stockholders, a copy shall also be given to the Company at 42307 Osgood Road, Suite 1,
Fremont, CA 94539, Attn: Chief Executive Officer. 

  

					
		  		  	
		  	3	  	

 4.8    Consent Required to Amend, Terminate or Waive. This Agreement
may be amended or terminated and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only by a written instrument executed by the Company, STVC; and the holders of
a majority of the shares of each of Class B Stock and Series E Stock held by the Stockholders. Notwithstanding the foregoing: 
  

	 	(a)	this Agreement may not be amended or terminated and the observance of any term of this Agreement may not be waived with respect to any Stockholder without the written consent of such Stockholder unless such amendment,
termination or waiver applies to all Stockholders in the same fashion; 

  

	 	(b)	SCHEDULE A may be amended by the Company from time to time to add information regarding additional Stockholders without the consent of the other parties hereto; and

  

	 	(c)	any provision hereof may be waived by the waiving party on such party’s own behalf, without the consent of any other party. 

The Company shall give prompt written notice of any amendment, termination, or waiver hereunder to any party that did not consent in writing thereto. Any
amendment, termination, or waiver effected in accordance with this Section 4.8 shall be binding on each party and all of such party’s successors and permitted assigns, whether or not any such party, successor or assignee entered
into or approved such amendment, termination or waiver. For purposes of this Section 4.8, the requirement of a written instrument may be satisfied in the form of an action by written consent of the Stockholders circulated by the Company
and executed by the Stockholder parties specified, whether or not such action by written consent makes explicit reference to the terms of this Agreement. 

4.9    Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under
this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting
party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any
other breach or default previously or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any
provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be
cumulative and not alternative. 
 4.10    Severability. The invalidity or unenforceability of any provision
hereof shall in no way affect the validity or enforceability of any other provision. 
 4.11    Entire Agreement.
This Agreement (including the Exhibits hereto), the Purchase Agreement and the Tripartite Agreement, by and among the Company, STVC and Shanghai Venture Capital Co., Ltd. constitute the full and entire understanding and agreement between the parties
with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled. 

4.12    Further Assurances. At any time or from time to time after the date hereof, the parties agree to cooperate
with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably 

  

					
		  		  	
		  	4	  	

 
request in order to evidence or effectuate the consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties hereunder. 

4.13    Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction
of the state courts of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to
commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the District of Delaware, and (c) hereby waive, and agree not to assert, by
way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that
the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. 

WAIVER OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT,
THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY
EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND
VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 
 Each party will bear its own costs in respect of any disputes arising
under this Agreement. 
 [Signature Page Follows] 

  

					
		  		  	
		  	5	  	

 IN WITNESS WHEREOF, the parties have executed this Voting Agreement as of the date first written
above. 
  

			
	ACM Research Inc.
		
	By:	 	/s/ David H. Wang
		 	 Name:
 Title:

  

			
	Shanghai Technology Venture Capital Co., Ltd.:
		
	By:	 	/s/ Shanghai Technology Venture Capital Co., Ltd.
		 	 Name:
 Title:

  

					
		 		 	STOCKHOLDERS:
			
	[For individual:]	 		 	   

		 		 	(Name)
			
	  
	 		 	   

		 		 	
			
	[For entity:]	 		 	   

		 		 	(Name)

  

			
	
		
	By:	 	 
		 	 Name:
 Title:

 SIGNATURE PAGE TO VOTING
AGREEMENT 

 SCHEDULE A 

STOCKHOLDERS 
  

					
	 
Name and Email and Street Addresses
	 	 Number of Shares of

Class B Stock Held
	 	 Number of Shares of

Series E Stock Held

 EXHIBIT A 

ADOPTION AGREEMENT 
 This
Adoption Agreement (this “Adoption Agreement”) is executed on ___________________, 20__, by the undersigned (the “Holder”) pursuant to the terms of the Voting Agreement as of ________, 2017 (the
“Agreement”), by and among the Company, Shanghai Technology Venture Capital Co., Ltd. and certain other Stockholders party thereto, as such Agreement may be amended from time to time. Capitalized terms used but not defined in this
Adoption Agreement shall have the respective meanings ascribed to such terms in the Agreement. By the execution of this Adoption Agreement, the Holder agrees as follows. 

1.1    Acknowledgement. The Holder is acquiring shares of capital stock of the Company for one of the following
reasons and agrees as follows (check the correct box): 
  

	 	☐	As a transferee of Class B Stock from a party in such party’s capacity as a “Stockholder” bound by the Agreement, and after such transfer, the Holder shall be considered a “Stockholder” for
all purposes of the Agreement. 

  

	 	☐	As a transferee of Series E Stock from a party in such party’s capacity as a “Stockholder” bound by the Agreement, and after such transfer, the Holder shall be considered a “Stockholder” for all
purposes of the Agreement. 

  

	 	☐	As a new Stockholder in accordance with Section 4.1 of the Agreement, in which case the Holder will be a “Stockholder” for all purposes of the Agreement. 

1.2    Agreement. The Holder (a) agrees that the Holder’s Class B Stock and/or Series E Stock, and
any other shares of capital stock or securities required by the Agreement to be bound thereby, shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement with the same force and effect as if the Holder were
originally a party thereto. 
 1.3    Notice. Any notice required or permitted by the Agreement shall be given to
the Holder at the email or street address listed below the Holder’s signature hereto. 
  

			
	HOLDER:                                    
                                         
                           	 	ACCEPTED AND AGREED:
		
	By:                                     
                                         
                                         
	 	ACM Research Inc.
	Name and Title of Signatory	 	
		
	Address:                                     
                                         
                               	 	By:                                     
                                         
                                       
		
	 	 	Title:                                     
                                         
                                   
		
	 	 	
		
	Email
Address:

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