Document:

Exhibit 10.2

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of July 12, 2019, by and among
(i) Greenland Acquisition Corporation, a British Virgin Islands business company with limited liability, which will be
known after the consummation of the transactions contemplated by the Share Exchange Agreement (as defined below) as
“Greenland Technologies Holding Corporation” (including any successor entity thereto,
“Purchaser”), (ii) Greenland Asset Management Corporation, a British Virgin Islands business
company with limited liability, in the capacity under the Share Exchange Agreement as the Purchaser Representative (including
any successor Purchaser Representative appointed in accordance therewith, the “Purchaser
Representative”), and (iii) the undersigned party listed under Investor on the signature page hereto (the
“Investor” and collectively with any assignees pursuant to Section 2 thereof, the
“Investors”).

 

WHEREAS, on
July 12, 2019, Purchaser, the Purchaser Representative and the Investor entered into that certain Share Exchange Agreement
(as amended from time to time in accordance with the terms thereof, the “Share Exchange Agreement”),
by and among Purchaser, the Purchaser Representative, Zhongchai Holding (Hong Kong) Limited, a Hong Kong registered company
(including any successor entity thereto, the “Company”), and the Investor, pursuant to which, subject
to the terms and conditions thereof, Purchaser will acquire from the Investor all of the issued and outstanding equity interests
of the Company in exchange for shares of Purchaser Ordinary Shares, a portion of which will be set aside in escrow and held in
an escrow account in accordance with the terms and conditions of the Share Exchange Agreement and the Escrow Agreement;

 

WHEREAS, in
connection with the consummation of the transactions contemplated by the Share Exchange Agreement, Purchaser, the Purchaser Representative
and the Investor are also entering into a Lock-Up Agreement (as amended from time to time in accordance with the terms thereof,
the “Lock-Up Agreement”), pursuant to which Investor has agreed not to transfer its Exchange Shares for
a lock-up period of one (1) year after the Closing Date (as defined below) (subject to earlier release upon certain events) or
to transfer the Escrow Shares while such shares are held in escrow under the Escrow Agreement; and

 

WHEREAS, the
parties desire to enter into this Agreement to provide the Investors with certain rights relating to the registration of the Exchange
Shares;

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1. DEFINITIONS.
Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Share Exchange Agreement.
The following capitalized terms used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Company”
is defined in the recitals to this Agreement.

 

“Demand
Registration” is defined in Section 2.1.1.

 

“Demanding
Holder” is defined in Section 2.1.1.

 

     

     

    

 

“Dispute”
is defined in Section 6.10.

 

“Form S-3”
is defined in Section 2.3.

 

“Founder
Registration Rights Agreement” means that certain Registration Rights Agreement, dated as of July 24, 2018, between
Purchaser and the investors named therein, as it may be amended in accordance with the terms thereof.

 

“Founder
Securities” means those securities included in the definition of “Registrable Securities” specified in
the Founder Registration Rights Agreement.

 

“Indemnified
Party” is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

“Investor(s)”
is defined in the preamble to this Agreement, and include any transferee of the Registrable Securities (so long as they remain
Registrable Securities) of an Investor permitted under this Agreement and such Investor’s Lock-Up Agreement.

 

“Investor
Indemnified Party” is defined in Section 4.1.

 

“Lock-Up
Agreement” is defined in the recitals to this Agreement.

 

“Maximum
Number of Shares” is defined in Section 2.1.4.

 

“Piggy-Back
Registration” is defined in Section 2.2.1.

 

“Pro Rata”
is defined in Section 2.1.4.

 

“Proceeding”
is defined in Section 6.11.

 

“Purchaser”
is defined in the preamble to this Agreement, and shall include Purchaser’s successors by merger, acquisition, reorganization
or otherwise.

 

“Purchaser
Representative” is defined in the preamble to this Agreement.

 

“Purchaser
UPO” means the Unit Purchase Option that was issued to Chardan Capital Markets, LLC or its designees in connection
with the Purchaser’s initial public offering.

 

“Register,”
“Registered” and “Registration” mean a registration effected by preparing and
filing a registration statement or similar document in compliance with the requirements of the Securities Act, and the applicable
rules and regulations promulgated thereunder, and such registration statement becoming effective.

 

“Registrable
Securities” means all of the Exchange Shares, including any shares held in escrow as Escrow Shares. Registrable Securities
include any warrants, share capital or other securities of Purchaser issued as a dividend or other distribution with respect to
or in exchange for or in replacement of such Exchange Shares. As to any particular Registrable Securities, such securities shall
cease to be Registrable Securities when: (a) a Registration Statement with respect to the sale of such securities shall have become
effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance
with such Registration Statement; (b) such securities shall have been otherwise transferred, new certificates for them not bearing
a legend restricting further transfer shall have been delivered by Purchaser and subsequent public distribution of them shall not
require registration under the Securities Act; (c) such securities shall have ceased to be outstanding or (d) the Registrable Securities
are freely saleable under Rule 144 without volume limitations.

 

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“Registration
Statement” means a registration statement filed by Purchaser with the SEC in compliance with the Securities Act and
the rules and regulations promulgated thereunder for a public offering and sale of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities (other than a registration statement on Form S-4 or Form
S-8, or their successors, or any registration statement covering only securities proposed to be issued in exchange for securities
or assets of another entity).

 

“Resolution
Period” is defined in Section 6.10.

 

“Share
Exchange Agreement” is defined in the recitals to this Agreement.

 

“Specified
Courts” is defined in Section 6.11.

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of
such dealer’s market-making activities.

 

“UPO Securities”
means the Purchaser Ordinary Shares or other securities registrable pursuant to the terms of the Purchaser UPO.

 

2. REGISTRATION
RIGHTS.

 

2.1 Demand
Registration.

 

2.1.1 Request
for Registration. Subject to Section 2.4, at any time and from time to time after the Closing Date, Investors holding a majority-in-interest
of Registrable Securities then issued and outstanding may make a written demand for registration under the Securities Act of all
or part of their Registrable Securities (a “Demand Registration”). Any demand for a Demand Registration
shall specify the number of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. Within
thirty (30) days following receipt of any request for a Demand Registration, Purchaser will notify all other Investors holding
Registrable Securities of the demand, and each Investor holding Registrable Securities who wishes to include all or a portion of
such Investor’s Registrable Securities in the Demand Registration (each such Investor including shares of Registrable Securities
in such registration, a “Demanding Holder”) shall so notify Purchaser within fifteen (15) days after
the receipt by the Investor of the notice from Purchaser. Upon any such request, the Demanding Holders shall be entitled to have
their Registrable Securities included in the Demand Registration, subject to Section 2.1.4 and the provisos set forth in Section
3.1.1. Purchaser shall not be obligated to effect more than an aggregate of three (3) Demand Registrations under this Section 2.1.1
in respect of all Registrable Securities.

 

2.1.2 Effective
Registration. A registration will not count as a Demand Registration until the Registration Statement filed with the SEC with
respect to such Demand Registration has been declared effective and Purchaser has complied with all of its obligations under this
Agreement with respect thereto; provided, however, that if, after such Registration Statement has been declared effective, the
offering of Registrable Securities pursuant to a Demand Registration is interfered with by any stop order or injunction of the
SEC or any other governmental agency or court, the Registration Statement with respect to such Demand Registration will be deemed
not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise terminated,
and (ii) a majority-in-interest of the Demanding Holders thereafter elect to continue the offering; provided, further, that Purchaser
shall not be obligated to file a second Registration Statement until a Registration Statement that has been filed is counted as
a Demand Registration or is terminated.

 

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2.1.3 Underwritten
Offering. If a majority-in-interest of the Demanding Holders so elect and advise Purchaser as part of their written demand
for a Demand Registration, the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form
of an underwritten offering. In such event, the right of any Demanding Holder to include its Registrable Securities in such registration
shall be conditioned upon such Demanding Holder’s participation in such underwriting and the inclusion of such Demanding
Holder’s Registrable Securities in the underwriting to the extent provided herein. All Demanding Holders proposing to distribute
their Registrable Securities through such underwriting shall enter into an underwriting agreement in customary form with the Underwriter
or Underwriters selected for such underwriting by a majority-in-interest of the Investors initiating the Demand Registration.

 

2.1.4 Reduction
of Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten offering advises
Purchaser and the Demanding Holders in writing that the dollar amount or number of Registrable Securities which the Demanding Holders
desire to sell, taken together with all other Purchaser Ordinary Shares or other securities which Purchaser desires to sell and
the Purchaser Ordinary Shares or other securities, if any, as to which registration by Purchaser has been requested pursuant to
written contractual piggy-back registration rights held by other security holders of Purchaser who desire to sell, exceeds the
maximum dollar amount or maximum number of shares that can be sold in such offering without adversely affecting the proposed offering
price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum
number of shares, as applicable, the “Maximum Number of Shares”), then Purchaser shall include in such
registration: (i) first, the Registrable Securities as to which Demand Registration has been requested by the Demanding Holders
(pro rata in accordance with the number of securities that each applicable Person has requested be included in such registration,
regardless of the number of securities held by each such Person (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has
not been reached under the foregoing clause (i), the Purchaser Ordinary Shares or other securities that Purchaser desires to sell
that can be sold without exceeding the Maximum Number of Shares; and (iii) third, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clauses (i) and (ii), the Purchaser Ordinary Shares or other securities for the account
of other Persons that Purchaser is obligated to register pursuant to written contractual arrangements with such Persons and that
can be sold without exceeding the Maximum Number of Shares. In the event that Purchaser securities that are convertible into Purchaser
Ordinary Shares are included in the offering, the calculations under this Section 2.1.4 shall include such Purchaser securities
on an as-converted to Purchaser Ordinary Share basis.

 

2.1.5 Withdrawal.
If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled to include all
of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw from
such offering by giving written notice to Purchaser and the Underwriter or Underwriters of their request to withdraw prior to the
effectiveness of the Registration Statement filed with the SEC with respect to such Demand Registration. If the majority-in-interest
of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration in such event, then such registration
shall not count as a Demand Registration provided for in Section 2.1.

 

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2.2 Piggy-Back
Registration.

 

2.2.1 Piggy-Back
Rights. Subject to Section 2.4, if at any time after the Closing Date Purchaser proposes to file a Registration Statement under
the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable
for, or convertible into, equity securities, by Purchaser for its own account or for security holders of Purchaser for their account
(or by Purchaser and by security holders of Purchaser including pursuant to Section 2.1), other than a Registration Statement (i)
filed in connection with any employee share option or other benefit plan, (ii) for an exchange offer or offering of securities
solely to Purchaser’s existing shareholders, (iii) for an offering of debt that is convertible into equity securities of
Purchaser or (iv) for a dividend reinvestment plan, then Purchaser shall (x) give written notice of such proposed filing to Investors
holding Registrable Securities as soon as practicable but in no event less than ten (10) days before the anticipated filing date,
which notice shall describe the amount and type of securities to be included in such offering, the intended method(s) of distribution,
and the name of the proposed managing Underwriter or Underwriters, if any, of the offering, and (y) offer to Investors holding
Registrable Securities in such notice the opportunity to register the sale of such number of Registrable Securities as such Investors
may request in writing within five (5) days following receipt of such notice (a “Piggy-Back Registration”).
Purchaser shall cause such Registrable Securities to be included in such registration and shall use its best efforts to cause the
managing Underwriter or Underwriters of a proposed underwritten offering to permit the Registrable Securities requested to be included
in a Piggy-Back Registration on the same terms and conditions as any similar securities of Purchaser and to permit the sale or
other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All Investors
holding Registrable Securities proposing to distribute their securities through a Piggy-Back Registration that involves an Underwriter
or Underwriters shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters selected for
such Piggy-Back Registration.

 

2.2.2 Reduction
of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten offering
advises Purchaser and Investors holding Registrable Securities proposing to distribute their Registrable Securities through such
Piggy-Back Registration in writing that the dollar amount or number of Purchaser Ordinary Shares or other Purchaser securities
which Purchaser desires to sell, taken together with the Purchaser Ordinary Shares or other Purchaser securities, if any, as to
which registration has been demanded pursuant to written contractual arrangements with Persons other than the Investors hereunder,
the Registrable Securities as to which registration has been requested under this Section 2.2, and the Purchaser Ordinary Shares
or other Purchaser securities, if any, as to which registration has been requested pursuant to the written contractual piggy-back
registration rights of other security holders of Purchaser, exceeds the Maximum Number of Shares, then Purchaser shall include
in any such registration:

 

(a) If
the registration is undertaken for Purchaser’s account: (i) first, the Purchaser Ordinary Shares or other securities that
Purchaser desires to sell that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the
Maximum Number of Shares has not been reached under the foregoing clause (i), the Purchaser Ordinary Shares or other securities,
if any, comprised of Founder Securities or UPO Securities, as to which registration has been requested pursuant to the applicable
written contractual piggy-back registration rights of such security holders, Pro Rata among such security holders based on the
number of securities requested by such security holders to be included in such registration, that can be sold without exceeding
the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of shares has not been reached under the foregoing
clauses (i) and (ii), the Registrable Securities of Investors as to which registration has been requested pursuant to this Section
2.2, Pro Rata among such Investors based on the number of Registrable Securities requested by such Investors to be included in
such registration, that can be sold without exceeding the Maximum Number of Shares; and (iv) fourth, to the extent that the Maximum
Number of Shares has not been reached under the foregoing clauses (i), (ii) and (iii), the Purchaser Ordinary Shares or other securities
for the account of other Persons that Purchaser is obligated to register pursuant to written contractual arrangements with such
Persons and that can be sold without exceeding the Maximum Number of Shares;

 

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(b) If
the registration is a “demand” registration undertaken at the demand of holders of UPO Securities, (i) first, the UPO
Securities for the account of the demanding holders, Pro Rata among such holders based on the number of UPO Securities requested
by such holders to be included in such registration, that can be sold without exceeding the Maximum Number of Shares; (ii) second,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (i), the Purchaser Ordinary Shares
or other securities that Purchaser desires to sell that can be sold without exceeding the Maximum Number of Shares; (iii) third,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i) and (ii), the Founder Securities,
Pro Rata among the holders of Founder Securities based on the number of Founder Securities requested by such holders to be included
in such registration, as to which registration has been requested pursuant to the terms of the Founder Registration Rights Agreement,
that can be sold without exceeding the Maximum Number of Shares; (iv) fourth, to the extent that the Maximum Number of Shares has
not been reached under the foregoing clauses (i), (ii) and (iii), the Registrable Securities of Investors as to which registration
has been requested pursuant to this Section 2.2, Pro Rata among such Investors based on the number of Registrable Securities requested
by such Investors to be included in such registration, that can be sold without exceeding the Maximum Number of Shares; and (v)
fifth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii), (iii) and (iv),
the Purchaser Ordinary Shares or other securities for the account of other Persons that Purchaser is obligated to register pursuant
to written contractual arrangements with such Persons and that can be sold without exceeding the Maximum Number of Shares;

 

(c) If
the registration is a “demand” registration undertaken at the demand of holders of Founder Securities, (i) first, the
Founder Securities for the account of the demanding holders, Pro Rata among such holders based on the number of Founder Securities
requested by such holders to be included in such registration, that can be sold without exceeding the Maximum Number of Shares;
(ii) second, to the extent that the Maximum Number of Shares has not been reached under the foregoing clause (i), the Purchaser
Ordinary Shares or other securities that Purchaser desires to sell that can be sold without exceeding the Maximum Number of Shares;
(iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i) and (ii), the
UPO Securities, Pro Rata among the holders of UPO Securities based on the number of UPO Securities requested by such holders to
be included in such registration, as to which registration has been requested pursuant to the terms of the Unit Purchase Option,
that can be sold without exceeding the Maximum Number of Shares; (iv) fourth, to the extent that the Maximum Number of Shares has
not been reached under the foregoing clauses (i), (ii) and (iii), the Registrable Securities of Investors as to which registration
has been requested pursuant to this Section 2.2, Pro Rata among such Investors based on the number of Registrable Securities requested
by such Investors to be included in such registration, that can be sold without exceeding the Maximum Number of Shares; and (v)
fifth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii), (iii) and (iv),
the Purchaser Ordinary Shares or other securities for the account of other Persons that Purchaser is obligated to register pursuant
to written contractual arrangements with such Persons and that can be sold without exceeding the Maximum Number of Shares; and

 

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(d) If
the registration is a “demand” registration undertaken at the demand of Persons other than Investors holding Registrable
Securities or the holders of Founder Securities or UPO Securities, (i) first, the Purchaser Ordinary Shares or other securities
for the account of such demanding Persons that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the
extent that the Maximum Number of Shares has not been reached under the foregoing clause (i), the Purchaser Ordinary Shares or
other securities that Purchaser desires to sell that can be sold without exceeding the Maximum Number of Shares; (iii) third, to
the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i) and (ii), collectively the Founder
Securities and UPO Securities, Pro Rata among the holders of Founder Securities and UPO Securities based on the number of Founder
Securities and UPO Securities requested by such holders to be included in such registration, as to which registration has been
requested pursuant to the terms of the Founder Registration Rights Agreement and the Unit Purchase Option, as applicable, that
can be sold without exceeding the Maximum Number of Shares; (iv) fourth, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clauses (i), (ii) and (iii), the Registrable Securities of Investors as to which registration
has been requested pursuant to this Section 2.2, Pro Rata among such Investors based on the number of Registrable Securities requested
by such Investors to be included in such registration, that can be sold without exceeding the Maximum Number of Shares; and (v)
fifth, to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii), (iii) and (iv),
the Purchaser Ordinary Shares or other securities for the account of other Persons that Purchaser is obligated to register pursuant
to written contractual arrangements with such Persons and that can be sold without exceeding the Maximum Number of Shares.

 

In the event that Purchaser
securities that are convertible into Purchaser Ordinary Shares are included in the offering, the calculations under this Section
2.2.2 shall include such Purchaser securities on an as-converted to Purchaser Ordinary Share basis.

 

2.2.3 Withdrawal.
Any Investor holding Registrable Securities may elect to withdraw such Investor’s request for inclusion of Registrable Securities
in any Piggy-Back Registration by giving written notice to Purchaser of such request to withdraw prior to the effectiveness of
the Registration Statement. Purchaser (whether on its own determination or as the result of a withdrawal by Persons making a demand
pursuant to written contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness of such
Registration Statement without any liability to the applicable Investor, subject to the next sentence and the provisions of Section
4. Notwithstanding any such withdrawal, Purchaser shall pay all expenses incurred in connection with such Piggy-Back Registration
as provided in Section 3.3 by Investors holding Registrable Securities that requested to have their Registrable Securities included
in such Piggy-Back Registration.

 

2.3 Registrations
on Form S-3. After the Closing Date, subject to Section 2.4, Investors holding Registrable Securities may at any time and from
time to time, request in writing that Purchaser register the resale of any or all of such Registrable Securities on Form S-3 or
any similar short-form registration which may be available at such time (“Form S-3”); provided, however,
that Purchaser shall not be obligated to effect such request through an underwritten offering. Upon receipt of such written request,
Purchaser will promptly give written notice of the proposed registration to all other Investors holding Registrable Securities,
and, as soon as practicable thereafter, effect the registration of all or such portion of such Investors’ Registrable Securities
as are specified in such request, together with all or such portion of the Registrable Securities, if any, of any other Investors
joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice
from Purchaser; provided, however, that Purchaser shall not be obligated to effect any such registration pursuant to this Section
2.3: (i) if Form S-3 is not available to Purchaser for such offering; or (ii) if Investors holding Registrable Securities, together
with the holders of any other securities of Purchaser entitled to inclusion in such registration, propose to sell Registrable Securities
and such other securities (if any) at any aggregate price to the public of less than $1,000,000. Registrations effected pursuant
to this Section 2.3 shall not be counted as Demand Registrations effected pursuant to Section 2.1.

 

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2.4 Restriction
of Offerings. Notwithstanding anything to the contrary contained in this Agreement, the Investors shall not be entitled to
request, and Purchaser shall not be obligated to effect, or to take any action to effect, any registration (including any Demand
Registration or Piggy-Back Registration) pursuant to this Section 2 with respect to any Registrable Securities during the Lock-Up
Period (as such term is defined in such Investor’s Lock-Up Agreement) or any Escrow Shares while they are subject to restrictions
on transfer under such Investor’s Lock-Up Agreement.

 

3. REGISTRATION
PROCEDURES.

 

3.1 Filings;
Information. Whenever Purchaser is required to effect the registration of any Registrable Securities pursuant to Section 2,
Purchaser shall use its best efforts to effect the registration and sale of such Registrable Securities in accordance with the
intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request:

 

3.1.1 Filing
Registration Statement. Purchaser shall use its best efforts to, as expeditiously as possible after receipt of a request for
a Demand Registration pursuant to Section 2.1, prepare and file with the SEC a Registration Statement on any form for which Purchaser
then qualifies or which counsel for Purchaser shall deem appropriate and which form shall be available for the sale of all Registrable
Securities to be registered thereunder in accordance with the intended method(s) of distribution thereof, and shall use its best
efforts to cause such Registration Statement to become effective and use its best efforts to keep it effective for the period required
by Section 3.1.3; provided, however, that Purchaser shall have the right to defer any Demand Registration for up to sixty (60)
days, and any Piggy-Back Registration for such period as may be applicable to deferment of any demand registration to which such
Piggy-Back Registration relates, in each case if Purchaser shall furnish to Investor requesting to include their Registrable Securities
in such registration a certificate signed by the President, Chief Executive Officer or Chairman of Purchaser stating that, in the
good faith judgment of the Board of Directors of Purchaser, it would be materially detrimental to Purchaser and its shareholders
for such Registration Statement to be effected at such time; provided further, however, that Purchaser shall not have the right
to exercise the right set forth in the immediately preceding proviso more than once in any 365-day period in respect of a Demand
Registration hereunder.

 

3.1.2 Copies.
Purchaser shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without
charge to Investors holding Registrable Securities included in such registration, and such Investors’ legal counsel, copies
of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case
including all exhibits thereto and documents incorporated by reference therein), the prospectus included in such Registration Statement
(including each preliminary prospectus), and such other documents as Investors holding Registrable Securities included in such
registration or legal counsel for any such Investors may request in order to facilitate the disposition of the Registrable Securities
owned by such Investors.

 

3.1.3 Amendments
and Supplements. Purchaser shall prepare and file with the SEC such amendments, including post-effective amendments, and supplements
to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such Registration Statement
effective and in compliance with the provisions of the Securities Act until all Registrable Securities and other securities covered
by such Registration Statement have been disposed of in accordance with the intended method(s) of distribution set forth in such
Registration Statement or such securities have been withdrawn or until such time as the Registrable Securities cease to be Registrable
Securities as defined by this Agreement.

 

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3.1.4 Notification.
After the filing of a Registration Statement, Purchaser shall promptly, and in no event more than three (3) Business Days after
such filing, notify Investors holding Registrable Securities included in such Registration Statement of such filing, and shall
further notify such Investors promptly and confirm such advice in writing in all events within three (3) Business Days after the
occurrence of any of the following: (i) when such Registration Statement becomes effective; (ii) when any post-effective amendment
to such Registration Statement becomes effective; (iii) the issuance or threatened issuance by the SEC of any stop order (and Purchaser
shall take all actions required to prevent the entry of such stop order or to remove it if entered); and (iv) any request by the
SEC for any amendment or supplement to such Registration Statement or any prospectus relating thereto or for additional information
or of the occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter
delivered to the purchasers of the securities covered by such Registration Statement, such prospectus will not contain an untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein not misleading, and promptly make available to Investors holding Registrable Securities included in such Registration Statement
any such supplement or amendment; except that before filing with the SEC a Registration Statement or prospectus or any amendment
or supplement thereto, including documents incorporated by reference, Purchaser shall furnish to Investors holding Registrable
Securities included in such Registration Statement and to the legal counsel for any such Investors, copies of all such documents
proposed to be filed sufficiently in advance of filing to provide such Investors and legal counsel with a reasonable opportunity
to review such documents and comment thereon, and Purchaser shall not file any Registration Statement or prospectus or amendment
or supplement thereto, including documents incorporated by reference, to which such Investors or their legal counsel shall object.

 

3.1.5 State
Securities Laws Compliance. Purchaser shall use its best efforts to (i) register or qualify the Registrable Securities covered
by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as
Investors holding Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations
of Purchaser and do any and all other acts and things that may be necessary or advisable to enable Investors holding Registrable
Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions;
provided, however, that Purchaser shall not be required to qualify generally to do business in any jurisdiction where it would
not otherwise be required to qualify but for this paragraph or subject itself to taxation in any such jurisdiction.

 

3.1.6 Agreements
for Disposition. Purchaser shall enter into customary agreements (including, if applicable, an underwriting agreement in customary
form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable
Securities. The representations, warranties and covenants of Purchaser in any underwriting agreement which are made to or for the
benefit of any Underwriters, to the extent applicable, shall also be made to and for the benefit of Investors holding Registrable
Securities included in such Registration Statement. No Investor holding Registrable Securities included in such Registration Statement
shall be required to make any representations or warranties in the underwriting agreement except, if applicable, with respect to
such Investor’s organization, good standing, authority, title to Registrable Securities, lack of conflict of such sale with
such Investor’s material agreements and organizational documents, and with respect to written information relating to such
Investor that such Investor has furnished in writing expressly for inclusion in such Registration Statement.

 

3.1.7 Cooperation.
The principal executive officer of Purchaser, the principal financial officer of Purchaser, the principal accounting officer of
Purchaser and all other officers and members of the management of Purchaser shall cooperate fully in any offering of Registrable
Securities hereunder, which cooperation shall include the preparation of the Registration Statement with respect to such offering
and all other offering materials and related documents, and participation in meetings with Underwriters, attorneys, accountants
and potential investors.

 

    9

     

    

 

3.1.8 Records.
Purchaser shall make available for inspection by Investors holding Registrable Securities included in such Registration Statement,
any Underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other
professional retained by any Investor holding Registrable Securities included in such Registration Statement or any Underwriter,
all financial and other records, pertinent corporate documents and properties of Purchaser, as shall be necessary to enable them
to exercise their due diligence responsibility, and cause Purchaser’s officers, directors and employees to supply all information
requested by any of them in connection with such Registration Statement.

 

3.1.9 Opinions
and Comfort Letters. Purchaser shall furnish to each Investor holding Registrable Securities included in such Registration
Statement a signed counterpart, addressed to such Investor, of (i) any opinion of counsel to Purchaser delivered to any Underwriter
and (ii) any comfort letter from Purchaser’s independent public accountants delivered to any Underwriter. In the event no
legal opinion is delivered to any Underwriter, Purchaser shall furnish to each Investor holding Registrable Securities included
in such Registration Statement, at any time that such Investor elects to use a prospectus, an opinion of counsel to Purchaser to
the effect that the Registration Statement containing such prospectus has been declared effective and that no stop order is in
effect.

 

3.1.10 Earnings
Statement. Purchaser shall comply with all applicable rules and regulations of the SEC and the Securities Act, and make available
to its shareholders, as soon as practicable, an earnings statement covering a period of twelve (12) months, which earnings statement
shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

 

3.1.11 Listing.
Purchaser shall use its best efforts to cause all Registrable Securities that are Purchaser Ordinary Shares included in any registration
to be listed on such exchanges or otherwise designated for trading in the same manner as similar securities issued by Purchaser
are then listed or designated or, if no such similar securities are then listed or designated, in a manner satisfactory to Investors
holding a majority-in-interest of the Registrable Securities included in such registration.

 

3.1.12 Road
Show. If the registration involves the registration of Registrable Securities involving gross proceeds in excess of $25,000,000,
Purchaser shall use its reasonable efforts to make available senior executives of Purchaser to participate in customary “road
show” presentations that may be reasonably requested by the Underwriter in any underwritten offering.

 

3.2 Obligation
to Suspend Distribution. Upon receipt of any notice from Purchaser of the happening of any event of the kind described in Section
3.1.4(iv), or, in the case of a resale registration on Form S-3 pursuant to Section 2.3 hereof, upon any suspension by Purchaser,
pursuant to a written insider trading compliance program adopted by Purchaser’s Board of Directors, of the ability of all
“insiders” covered by such program to transact in Purchaser’s securities because of the existence of material
non-public information, each Investor holding Registrable Securities included in any registration shall immediately discontinue
disposition of such Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such
Investor receives the supplemented or amended prospectus contemplated by Section 3.1.4(iv) or the restriction on the ability of
“insiders” to transact in Purchaser’s securities is removed, as applicable, and, if so directed by Purchaser,
each such Investor will deliver to Purchaser all copies, other than permanent file copies then in such Investor’s possession,
of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice.

 

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3.3 Registration
Expenses. Subject to Section 4, Purchaser shall bear all costs and expenses incurred in connection with any Demand Registration
pursuant to Section 2.1, any Piggy-Back Registration pursuant to Section 2.2, and any registration on Form S-3 effected pursuant
to Section 2.3, and all expenses incurred in performing or complying with its other obligations under this Agreement, whether or
not the Registration Statement becomes effective, including: (i) all registration and filing fees; (ii) fees and expenses of compliance
with securities or “blue sky” laws (including fees and disbursements of counsel in connection with blue sky qualifications
of the Registrable Securities); (iii) printing expenses; (iv) Purchaser’s internal expenses (including all salaries and expenses
of its officers and employees); (v) the fees and expenses incurred in connection with the listing of the Registrable Securities
as required by Section 3.1.11; (vi) Financial Industry Regulatory Authority fees; (vii) fees and disbursements of counsel for Purchaser
and fees and expenses for independent certified public accountants retained by Purchaser (including the expenses or costs associated
with the delivery of any opinions or comfort letters requested pursuant to Section 3.1.9); (viii) the fees and expenses of any
special experts retained by Purchaser in connection with such registration and (ix) the fees and expenses of one legal counsel
selected by Investors holding a majority-in-interest of the Registrable Securities included in such registration. Purchaser shall
have no obligation to pay any underwriting discounts or selling commissions attributable to the Registrable Securities being sold
by the holders thereof, which underwriting discounts or selling commissions shall be borne by such holders. Additionally, in an
underwritten offering, all selling security holders and Purchaser shall bear the expenses of the Underwriter pro rata in proportion
to the respective amount of securities each is selling in such offering.

 

3.4 Information.
Investors holding Registrable Securities included in any Registration Statement shall provide such information as may reasonably
be requested by Purchaser, or the managing Underwriter, if any, in connection with the preparation of such Registration Statement,
including amendments and supplements thereto, in order to effect the registration of any Registrable Securities under the Securities
Act pursuant to Section 2 and in connection with the obligation to comply with federal and applicable state securities laws.

 

4. INDEMNIFICATION
AND CONTRIBUTION.

 

4.1 Indemnification
by Purchaser. Purchaser agrees to indemnify and hold harmless each Investor, and each Investor’s officers, employees,
affiliates, directors, partners, members, attorneys and agents, and each Person, if any, who controls an Investor (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, an “Investor Indemnified Party”),
from and against any expenses, losses, judgments, claims, damages or liabilities, whether joint or several, arising out of or based
upon any untrue statement (or allegedly untrue statement) of a material fact contained in any Registration Statement under which
the sale of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or
summary prospectus contained in the Registration Statement, or any amendment or supplement to such Registration Statement, or arising
out of or based upon any omission (or alleged omission) to state a material fact required to be stated therein or necessary to
make the statements therein not misleading, or any violation by Purchaser of the Securities Act or any rule or regulation promulgated
thereunder applicable to Purchaser and relating to action or inaction required of Purchaser in connection with any such registration;
and Purchaser shall promptly reimburse the Investor Indemnified Party for any legal and any other expenses reasonably incurred
by such Investor Indemnified Party in connection with investigating and defending any such expense, loss, judgment, claim, damage,
liability or action; provided, however, that Purchaser will not be liable in any such case to the extent that any such expense,
loss, claim, damage or liability arises out of or is based upon any untrue statement or allegedly untrue statement or omission
or alleged omission made in such Registration Statement, preliminary prospectus, final prospectus, or summary prospectus, or any
such amendment or supplement, in reliance upon and in conformity with information furnished to Purchaser, in writing, by such selling
holder expressly for use therein. Purchaser also shall indemnify any Underwriter of the Registrable Securities, their officers,
affiliates, directors, partners, members and agents and each Person who controls such Underwriter on substantially the same basis
as that of the indemnification provided above in this Section 4.1.

 

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4.2 Indemnification
by Holders of Registrable Securities. Each Investor selling Registrable Securities will, in the event that any registration
is being effected under the Securities Act pursuant to this Agreement of any Registrable Securities held by such selling Investor,
indemnify and hold harmless Purchaser, each of its directors and officers and each Underwriter (if any), and each other selling
holder and each other Person, if any, who controls another selling holder or such Underwriter within the meaning of the Securities
Act, against any losses, claims, judgments, damages or liabilities, whether joint or several, insofar as such losses, claims, judgments,
damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or allegedly untrue
statement of a material fact contained in any Registration Statement under which the sale of such Registrable Securities was registered
under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained in the Registration Statement,
or any amendment or supplement to the Registration Statement, or arise out of or are based upon any omission or the alleged omission
to state a material fact required to be stated therein or necessary to make the statement therein not misleading, if the statement
or omission was made in reliance upon and in conformity with information furnished in writing to Purchaser by such selling Investor
expressly for use therein, and shall reimburse Purchaser, its directors and officers, each Underwriter and each other selling holder
or controlling Person for any legal or other expenses reasonably incurred by any of them in connection with investigation or defending
any such loss, claim, damage, liability or action. Each selling Investor’s indemnification obligations hereunder shall be
several and not joint and shall be limited to the amount of any net proceeds actually received by such selling Investor.

 

4.3 Conduct
of Indemnification Proceedings. Promptly after receipt by any Person of any notice of any loss, claim, damage or liability
or any action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such Person (the “Indemnified
Party”) shall, if a claim in respect thereof is to be made against any other Person for indemnification hereunder,
notify such other Person (the “Indemnifying Party”) in writing of the loss, claim, judgment, damage,
liability or action; provided, however, that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve
the Indemnifying Party from any liability which the Indemnifying Party may have to such Indemnified Party hereunder, except and
solely to the extent the Indemnifying Party is actually prejudiced by such failure. If the Indemnified Party is seeking indemnification
with respect to any claim or action brought against the Indemnified Party, then the Indemnifying Party shall be entitled to participate
in such claim or action, and, to the extent that it wishes, jointly with all other Indemnifying Parties, to assume control of the
defense thereof with counsel satisfactory to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified
Party of its election to assume control of the defense of such claim or action, the Indemnifying Party shall not be liable to the
Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified Party in connection with the defense
thereof other than reasonable costs of investigation; provided, however, that in any action in which both the Indemnified Party
and the Indemnifying Party are named as defendants, the Indemnified Party shall have the right to employ separate counsel (but
no more than one such separate counsel) to represent the Indemnified Party and its controlling Persons who may be subject to liability
arising out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party, with
the fees and expenses of such counsel to be paid by such Indemnifying Party if, based upon the written opinion of counsel of such
Indemnified Party, representation of both parties by the same counsel would be inappropriate due to actual or potential differing
interests between them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, consent to entry
of judgment or effect any settlement of any claim or pending or threatened proceeding in respect of which the Indemnified Party
is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such judgment or
settlement includes an unconditional release of such Indemnified Party from all liability arising out of such claim or proceeding.

 

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4.4 Contribution.

 

4.4.1 If
the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in respect
of any loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying
such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim,
damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties and the
Indemnifying Parties in connection with the actions or omissions which resulted in such loss, claim, damage, liability or action,
as well as any other relevant equitable considerations. The relative fault of any Indemnified Party and any Indemnifying Party
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by such Indemnified Party or such Indemnifying
Party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement
or omission.

 

4.4.2 The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined by pro
rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in
the immediately preceding Section 4.4.1.

 

4.4.3 The
amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred
by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions
of this Section 4.4, no holder of Registrable Securities shall be required to contribute any amount in excess of the dollar amount
of the net proceeds (after payment of any underwriting fees, discounts, commissions or taxes) actually received by such holder
from the sale of Registrable Securities which gave rise to such contribution obligation. No Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation.

 

5. UNDERWRITING
AND DISTRIBUTION.

 

5.1 Rule
144. Purchaser covenants that it shall file any reports required to be filed by it under the Securities Act and the Exchange
Act and shall take such further action as Investors holding Registrable Securities may reasonably request, all to the extent required
from time to time to enable such Investors to sell Registrable Securities without registration under the Securities Act within
the limitation of the exemptions provided by Rule 144 under the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the SEC.

 

6. MISCELLANEOUS.

 

6.1 Other
Registration Rights. Purchaser represents and warrants that as of the date of this Agreement, no Person, other than the holders
of (i) the Registrable Securities, (ii) the UPO Securities and (iii) the Founder Securities, has any right to require Purchaser
to register any of Purchaser’s share capital for sale or to include Purchaser’s share capital in any registration filed
by Purchaser for the sale of share capital for its own account or for the account of any other Person.

 

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6.2 Assignment;
No Third Party Beneficiaries. This Agreement and the rights, duties and obligations of Purchaser hereunder may not be assigned
or delegated by Purchaser in whole or in part. This Agreement and the rights, duties and obligations of Investors holding Registrable
Securities hereunder may be freely assigned or delegated by such Investor in conjunction with and to the extent of any transfer
of Registrable Securities by such Investor. This Agreement and the provisions hereof shall be binding upon and shall inure to the
benefit of each of the parties, to the permitted assigns of the Investors or of any assignee of the Investors. This Agreement is
not intended to confer any rights or benefits on any Persons that are not party hereto other than as expressly set forth in Article
4 and this Section 6.2. If the Purchaser Representative is replaced in accordance with the terms of the Share Exchange Agreement,
the replacement Purchaser Representative shall automatically become a party to this Agreement as if it were the original Purchaser
Representative hereunder.

 

6.3 Notices.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) one
Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business
Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable
Party at the following addresses (or at such other address for a Party as shall be specified by like notice):

 

	 	 
	
        If to the Purchaser Representative, to:

         

        Greenland Asset Management Corporation

        Suite 906, Tower W1, Oriental Plaza, No. 1 East Chang’an
        Street

        Dongcheng District, Beijing

        People’s Republic of China

        Attn: Yanming Liu, Chief Executive Officer

        Telephone No.: (86) 010-53607082

        Email: liuym@msn.com
	
        With a copy to (which shall not constitute notice):

         

        Ellenoff Grossman & Schole, LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attn:      Bill
        Huo, Esq.

        Ari Edelman, Esq.

        Fax:       (212)
        370-7889

        Tel:        (212)
        370-1300

        Email:    bhuo@egsllp.com

        aedelman@egsllp.com

         

	
         

        If to Purchaser after the Closing, to:

         

        Greenland Acquisition Corporation

        Suite 906, Tower W1, Oriental Plaza, No. 1 East, Chang’an
        Street, Dongcheng District, Beijing, People’s Republic of China 100738

        Attn: Chief Executive Officer

        Telephone No.: (86) 010-53607082

        Email: peterw@cenntro.com
	
         

        With copies to (which shall not constitute notice):

         

        Ellenoff Grossman & Schole, LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attn:      Bill Huo, Esq.

        Ari Edelman, Esq.

        Fax:       (212) 370-7889

        Tel:        (212) 370-1300

        Email:    bhuo@egsllp.com

        aedelman@egsllp.com

         

        and

         

        the Purchaser Representative (and its copy for notices hereunder)

         

	
         

        If to the Investor, to: the address set forth next to
        Investor’s name on Exhibit A hereto.

         

 

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6.4 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible that is valid and enforceable. Notwithstanding
anything to the contrary contained in this Agreement, in the event that an Investor identified on Exhibit A hereto or any other
Person receiving Exchange Shares in connection with the Closing does not sign and provide to Purchaser a duly executed copy of
this Agreement and a Lock-Up Agreement, such Investor or other Person failing to provide such signature shall not be a party to
this Agreement or have any rights or obligations hereunder, but such failure shall not affect the rights and obligations of the
other parties to this Agreement as amongst such other parties.

 

6.5 Counterparts.
This Agreement may be executed in multiple counterparts (including by facsimile or pdf or other electronic document transmission),
each of which shall be deemed an original, and all of which taken together shall constitute one and the same instrument.

 

6.6 Entire
Agreement. This Agreement (together with the Share Exchange Agreement and the Lock-Up Agreement to the extent incorporated
herein, and including all agreements entered into pursuant hereto or referenced herein and all certificates and instruments delivered
pursuant hereto and thereto) constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes
all prior and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether
oral or written, relating to the subject matter hereof; provided, that, for the avoidance of doubt, the foregoing shall not affect
the rights and obligations of the parties under the Share Exchange Agreement or any other Ancillary Document.

 

6.7 Interpretation.
Titles and headings of sections of this Agreement are for convenience only and shall not affect the construction of any provision
of this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural
and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words
“without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other
words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular
section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties have
participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

 

6.8 Amendments;
Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally
or in a particular instance, and either retroactively or prospectively) only with the written agreement or consent of Purchaser,
the Purchaser Representative and Investors holding a majority-in-interest of the Registrable Securities. No failure or delay by
a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or exceptions to any term, condition,
or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver
of any such term, condition, or provision

 

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6.9 Remedies
Cumulative. In the event a party fails to observe or perform any covenant or agreement to be observed or performed under this
Agreement, the other parties may proceed to protect and enforce its rights by suit in equity or action at law, whether for specific
performance of any term contained in this Agreement or for an injunction against the breach of any such term or in aid of the exercise
of any power granted in this Agreement or to enforce any other legal or equitable right, or to take any one or more of such actions,
without being required to post a bond. None of the rights, powers or remedies conferred under this Agreement shall be mutually
exclusive, and each such right, power or remedy shall be cumulative and in addition to any other right, power or remedy, whether
conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise.

 

6.10 Arbitration.
Any and all disputes, controversies and claims (other than applications for a temporary restraining order, preliminary injunction,
permanent injunction or other equitable relief or application for enforcement of a resolution under this Section 6.10) arising
out of, related to, or in connection with this Agreement or the transactions contemplated hereby (a “Dispute”)
shall be governed by this this Section 6.10. A party must, in the first instance, provide written notice of any Disputes to the
other parties subject to such Dispute, which notice must provide a reasonably detailed description of the matters subject to the
Dispute. The parties involved in such Dispute shall seek to resolve the Dispute on an amicable basis within ten (10) Business Days
of the notice of such Dispute being received by such other parties subject to such Dispute (the “Resolution Period”);
provided, that if any Dispute would reasonably be expected to have become moot or otherwise irrelevant if not decided within sixty
(60) days after the occurrence of such Dispute, then there shall be no Resolution Period with respect to such Dispute. Any Dispute
that is not resolved during the Resolution Period may immediately be referred to and finally resolved by arbitration pursuant to
the then-existing Expedited Procedures of the Commercial Arbitration Rules of the AAA. Any party involved in such Dispute may submit
the Dispute to the AAA to commence the proceedings after the Resolution Period. To the extent that the then-existing Expedited
Procedures of the Commercial Arbitration Rules of the AAA and this Agreement are in conflict, the terms of this Agreement shall
control. The arbitration shall be conducted by one arbitrator nominated by the AAA promptly (but in any event within five (5) Business
Days) after the submission of the Dispute to the AAA and reasonably acceptable to each party subject to the Dispute, which arbitrator
shall be a commercial lawyer with substantial experience arbitrating disputes under acquisition agreements and registration rights
agreements. The arbitrator shall accept his or her appointment and begin the arbitration process promptly (but in any event within
five (5) Business Days) after his or her nomination and acceptance by the parties subject to the Dispute. The proceedings shall
be streamlined and efficient. The arbitrator shall decide the Dispute in accordance with the substantive law of the state of New
York. Time is of the essence. Each party shall submit a proposal for resolution of the Dispute to the arbitrator within twenty
(20) days after confirmation of the appointment of the arbitrator. The arbitrator shall have the power to order any party to do,
or to refrain from doing, anything consistent with this Agreement, the Share Exchange Agreement and other Ancillary Documents and
applicable law, including to perform its contractual obligation(s); provided, that the arbitrator shall be limited to ordering
pursuant to the foregoing power (and, for the avoidance of doubt, shall order) the relevant party (or parties, as applicable) to
comply with only one or the other of the proposals. The arbitrator’s award shall be in writing and shall include a reasonable
explanation of the arbitrator’s reason(s) for selecting one or the other proposal. The seat of arbitration shall be in New
York County, State of New York. The language of the arbitration shall be English.

 

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6.11 Governing
Law; Jurisdiction. This Agreement shall be governed by, construed and enforced in accordance with the laws of the State of
New York without regard to the conflict of laws principles thereof. Subject to Section 6.10, all actions, claims or other legal
proceedings arising out of or relating to this Agreement (a “Proceeding”) shall be heard and determined
exclusively in any state or federal court located in New York, New York (or in any court in which appeal from such courts may be
taken) (the “Specified Courts”). Subject to Section 6.10, each party hereto hereby (a) submits to the
exclusive jurisdiction of any Specified Court for the purpose of any Proceeding brought by any party hereto and (b) irrevocably
waives, and agrees not to assert by way of motion, defense or otherwise, in any such 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 Proceeding is brought in an inconvenient forum, that the venue of the Proceeding is improper, or that this Agreement or the
transactions contemplated hereby may not be enforced in or by any Specified Court. Each party agrees that a final judgment in any
Proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by applicable Law. Each party irrevocably consents to the service of the summons and complaint and any other process in any Proceeding,
on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable address set
forth in Section 6.3. Nothing in this Section 6.11 shall affect the right of any party to serve legal process in any other manner
permitted by applicable Law.

 

6.12 WAIVER
OF TRIAL BY JURY

 

. EACH PARTY HEREBY
IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM OR OTHER PROCEEDING (WHETHER
BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED
HEREBY, OR THE ACTIONS OF THE INVESTORS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

6.13 Termination
of Share Exchange Agreement. This Agreement shall be binding upon each party upon such party’s execution and delivery
of this Agreement, but this Agreement shall only become effective upon the Closing. In the event that the Share Exchange Agreement
is validly terminated in accordance with its terms prior to the Closing, this Agreement shall automatically terminate and become
null and void and be of no further force or effect, and the parties shall have no obligations hereunder.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK; SIGNATURE PAGES FOLLOW]

 

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IN WITNESS WHEREOF,
the parties have caused this Registration Rights Agreement to be executed and delivered as of the date first written above.

 

	 	Purchaser:
	 	 
	 	GREENLAND ACQUISITION CORPORATION
	 	 
	 	By:	/s/ Yanming Liu

	 	Name: Yanming Liu
	 	Title: Chairman and Chief Executive Officer
	 	 
	 	The Purchaser Representative:
	 	 
	 	GREENLAND ASSET MANAGEMENT CORPORATION,
	 	in its capacity under the Share Exchange Agreement as the Purchaser Representative
	 	 
	 	By:	/s/ Yanming Liu

	 	Name: Yanming Liu
	 	Title: Managing Member

 

 

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

 

	 	Investor:
	 	 
	 	CENNTRO HOLDING LIMITED
	 	 
	 	By:	/s/ Peter Zuguang Wang

	 	Name: 	Peter Zuguang Wang 
	 	Title:	Chairman

 

 

 

[Signature Page to Registration Rights
Agreement]

 

     

     

    

 

EXHIBIT
A

 

Investor

 

	Name of Investor	 	Address of Investor
	Cenntro Holding Limited	 	
        11-F, Building #12, Sunking Plaza, Gaojiao Road Hangzhou, Zhejiang
        People’s Republic of China 311122

        Attention: Peter Zuguang Wang

 

 

A-1Exhibit 10.3

 

LOCK-UP AGREEMENT

 

THIS LOCK-UP
AGREEMENT (this “Agreement”) is made and entered into as of  July 12, 2019 by and among (i) Greenland
Acquisition Corporation, a British Virgin Islands company with limited liability, which will be known after the
consummation of the transactions contemplated by the Share Exchange Agreement (as defined below) as “Greenland
Technologies Holding Corporation” (including any successor entity thereto, the
“Purchaser”), (ii) Greenland Asset Management Corporation, a British Virgin Islands company
with limited liability, in the capacity under the Share Exchange Agreement as the Purchaser Representative (including any
successor Purchaser Representative appointed in accordance therewith, the “Purchaser
Representative”), and (iii) the undersigned (“Holder”). Any capitalized term used but
not defined in this Agreement will have the meaning ascribed to such term in the Share Exchange Agreement.

 

WHEREAS, on
July 12, 2019, the Purchaser, the Purchaser Representative and Holder entered into that certain Share Exchange Agreement
(as amended from time to time in accordance with the terms thereof, the “Share Exchange Agreement”),
by and among the Purchaser, the Purchaser Representative, Zhongchai Holding (Hong Kong) Limited, a Hong Kong registered company
(including any successor entity thereto, the “Company”) and Holder, pursuant to which, subject to the
terms and conditions thereof, Purchaser will acquire from Holder all of the issued and outstanding equity interests of the Company
in exchange for shares of Purchaser Ordinary Shares, a portion of which will be set aside in escrow and held in an escrow account
in accordance with the terms and conditions of the Share Exchange Agreement and the Escrow Agreement;

 

WHEREAS, Holder
is a holder of the capital stock of the Company in such amount as set forth underneath Holder’s name on the signature page
hereto; and

 

WHEREAS, pursuant
to the Share Exchange Agreement, and in view of the valuable consideration to be received by Holder thereunder, including the rights
under the Registration Rights Agreement being entered into by and among Purchaser, the Purchaser Representative and Holder, on
or about the date hereof in connection with the Share Exchange Agreement (the “Registration Rights Agreement”),
the parties desire to enter into this Agreement, pursuant to which the Exchange Shares to be issued to Holder (including any shares
held in escrow as Escrow Shares) (such Exchange Shares, together with any securities paid as dividends or distributions with respect
to such securities or into which such securities are exchanged or converted, the “Restricted Securities”)
shall become subject to limitations on disposition as set forth herein.

 

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NOW, THEREFORE,
in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending
to be legally bound hereby, the parties hereby agree as follows:

 

1. 
Lock-Up Provisions.

 

(a) 
Holder hereby agrees not to, during the period commencing from the Closing and ending on the earlier of (x) the one (1)
year anniversary of the date of the Closing and (y) the date after the Closing on which Purchaser consummates a liquidation, merger,
share exchange or other similar transaction with an unaffiliated third party that results in all of Purchaser’s shareholders
having the right to exchange their equity holdings in Purchaser for cash, securities or other property (the “Lock-Up
Period”),: (i) lend, offer, pledge, hypothecate, encumber, donate, assign, sell, contract to sell, sell any option
or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise
transfer or dispose of, directly or indirectly, any Restricted Securities, (ii) enter into any swap or other arrangement that
transfers to another, in whole or in part, any of the economic consequences of ownership of the Restricted Securities, or (iii) publicly
disclose the intention to do any of the foregoing, whether any such transaction described in clauses (i), (ii) or (iii) above is
to be settled by delivery of Restricted Securities or other securities, in cash or otherwise (any of the foregoing described in
clauses (i), (ii) or (iii), a “Prohibited Transfer”). The foregoing sentence shall not apply to the transfer
of any or all of the Restricted Securities owned by Holder (other than Escrow Shares until such Escrow Shares are disbursed to
Holder from the Escrow Account in accordance with the terms and conditions of the Share Exchange Agreement and the Escrow Agreement)
(A) by gift, will or intestate succession upon the death of Holder, (B) to any Permitted Transferee or (C) pursuant to a court
order or settlement agreement related to the distribution of assets in connection with the dissolution of marriage or civil union;
provided, however, that in any of cases (A), (B) or (C) it shall be a condition to such transfer that the transferee executes and
delivers to Purchaser and the Purchaser Representative an agreement stating that the transferee is receiving and holding the Restricted
Securities subject to the provisions of this Agreement applicable to Holder, and there shall be no further transfer of such Restricted
Securities except in accordance with this Agreement. As used in this Agreement, the term “Permitted Transferee”
shall mean: (I) the members of Holder’s immediate family (for purposes of this Agreement, “immediate family”
shall mean with respect to any natural person, any of the following: such person’s spouse, the siblings of such person and
his or her spouse, and the direct descendants and ascendants (including adopted and step children and parents) of such person and
his or her spouses and siblings), (II) any trust for the direct or indirect benefit of Holder or the immediate family of Holder,
(III) if Holder is a trust, to the trustor or beneficiary of such trust or to the estate of a beneficiary of such trust, (IV) as
a distribution to limited partners, shareholders, members of, or owners of similar equity interests in Holder upon the liquidation
and dissolution of Holder or (V) to any affiliate of Holder. Holder further agrees to execute such agreements as may be reasonably
requested by Purchaser or the Purchaser Representative that are consistent with the foregoing or that are necessary to give further
effect thereto.

 

(b) 
Holder further acknowledge and agrees that it shall not be permitted to engage in any Prohibited Transfer with respect to
any Escrow Shares until such Escrow Shares are disbursed to Holder from the Escrow Account in accordance with the terms and conditions
of the Share Exchange Agreement and the Escrow Agreement.

 

(c) 
If any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited
Transfer shall be null and void ab initio, and Purchaser shall refuse to recognize any such purported transferee of the Restricted
Securities as one of its equity holders for any purpose. In order to enforce this Section 1, Purchaser may impose stop-transfer
instructions with respect to the Restricted Securities of Holder (and permitted transferees and assigns thereof) until the end
of the Lock-Up Period.

 

(d) 
During the Lock-Up Period (and with respect to any Escrow Shares, if longer, the during the period when such Escrow Shares
are held in the Escrow Account), each certificate evidencing any Restricted Securities shall be stamped or otherwise imprinted
with a legend in substantially the following form, in addition to any other applicable legends:

 

“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS OF JULY 12, 2019, BY
AND AMONG THE ISSUER OF SUCH SECURITIES (THE “ISSUER”) AND THE ISSUER’S SECURITY HOLDER NAMED THEREIN, AS AMENDED.
A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

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(e) 
For the avoidance of any doubt, Holder shall retain all of its rights as a shareholder of Purchaser during the Lock-Up Period,
including the right to vote any Restricted Securities.

 

2. 
Miscellaneous.

 

(a) 
Termination of Share Exchange Agreement. Notwithstanding anything to the contrary contained herein, in the event
that the Share Exchange Agreement is terminated in accordance with its terms prior to the Closing, this Agreement and all rights
and obligations of the parties hereunder shall automatically terminate and be of no further force or effect.

 

(b) 
Binding Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the
benefit of the parties hereto and their respective permitted successors and assigns. This Agreement and all obligations of Holder
are personal to Holder and may not be transferred or delegated by Holder at any time. Purchaser may freely assign any or all of
its rights under this Agreement, in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset
sale or otherwise) without obtaining the consent or approval of Holder. If the Purchaser Representative is replaced in accordance
with the terms of the Share Exchange Agreement, the replacement Purchaser Representative shall automatically become a party to
this Agreement as if it were the original Purchaser Representative hereunder.

 

(c) 
Third Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection
with the transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any
person or entity that is not a party hereto or thereto or a successor or permitted assign of such a party.

 

(d) 
Governing Law; Jurisdiction. This Agreement and any dispute or controversy arising out of or relating to this Agreement
shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of law
principles thereof. All Actions arising out of or relating to this Agreement shall be heard and determined exclusively in any state
or federal court located in New York, New York (or in any appellate courts thereof) (the “Specified Courts”).
Each party hereto hereby (i) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising
out of or relating to this Agreement brought by any party hereto and (ii) irrevocably waives, and agrees not to assert by
way of motion, defense or otherwise, in any such Action, 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 Action is brought in an inconvenient
forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced
in or by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents to the service
of the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated
by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth in Section 2(g). Nothing in this Section 2(d) shall affect the right of any party
to serve legal process in any other manner permitted by applicable law.

 

(e) 
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION
WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT
FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 2(e).

 

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(f) 
Interpretation. The titles and subtitles used in this Agreement are for convenience only and are not to be considered
in construing or interpreting this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in
this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and
verbs shall include the plural and vice versa; (ii) “including” (and with correlative meaning “include”)
means including without limiting the generality of any description preceding or succeeding such term and shall be deemed in each
case to be followed by the words “without limitation”; (iii) the words “herein,” “hereto,”
and “hereby” and other words of similar import in this Agreement shall be deemed in each case to refer to this Agreement
as a whole and not to any particular section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”.
The parties have participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity
or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto,
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision
of this Agreement.

 

(g) 
Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed
to have been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation
of receipt, (iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv)
three (3) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in
each case to the applicable party at the following addresses (or at such other address for a party as shall be specified by like
notice):

 

	
        If to the Purchaser Representative, to:

         

        Greenland Asset Management Corporation

        Suite 906, Tower W1, Oriental Plaza, No. 1 East, Chang’an Street, Dongcheng District, Beijing, People’s Republic of
        China 100738

        Attention: Yanming Liu

        Telephone No.: (86) 010-53607082

        Email: liuym@msn.com

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

         

        Ellenoff Grossman & Schole, LLP

1345 Avenue of the Americas, 11th Floor

New York, NY 10105

Attn: Bill Huo, Esq.

         Ari Edelman, Esq.

Fax:   (212) 370-7889

Tel:   (212) 370-1300

Email: bhuo@egsllp.com

            aedelman@egsllp.com

 

	
        If to Purchaser after the Closing, to:

         

        Greenland Technologies Holding Corporation

        11-F, Building #12, Sunking Plaza, Gaojiao Road Hangzhou, Zhejiang, People’s Republic of China 311122

        Attention: Peter Zuguang Wang

        Telephone No.: (86) 571-85775711

        Email: peterw@cenntro.com
	
        With copies to (which shall not constitute notice):

         

        Ellenoff Grossman & Schole, LLP

        1345 Avenue of the Americas, 11th Floor

        New York, NY 10105

        Attn: Bill Huo, Esq.

                  Ari Edelman, Esq.

        Fax:   (212) 370-7889

        Tel:   (212) 370-1300

        Email: bhuo@egsllp.com

                    aedelman@egsllp.com

         

        and

         

        the Purchaser Representative (and its copy for notices
hereunder)

 

If to Holder, to: the address set forth below Holder’s name on the signature page to this Agreement.

 

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(h) 
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent
of Purchaser, the Purchaser Representative and Holder. No failure or delay by a party in exercising any right hereunder shall operate
as a waiver thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances,
shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

(i) 
Severability. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction,
such provision shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid,
legal and enforceable, and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be
affected or impaired thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other
jurisdiction. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the
parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out,
so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.

 

(j) 
Specific Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms
that in the event of a breach of this Agreement by Holder, money damages will be inadequate and Purchaser (and the Purchaser Representative
on behalf of Purchaser) will have no adequate remedy at law, and agrees that irreparable damage would occur in the event that any
of the provisions of this Agreement were not performed by Holder in accordance with their specific terms or were otherwise breached.
Accordingly, each of Purchaser and the Purchaser Representative shall be entitled to an injunction or restraining order to prevent
breaches of this Agreement by Holder and to enforce specifically the terms and provisions hereof, without the requirement to post
any bond or other security or to prove that money damages would be inadequate, this being in addition to any other right or remedy
to which such party may be entitled under this Agreement, at law or in equity.

 

(k) 
Entire Agreement. This Agreement constitutes the full and entire understanding and agreement among 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; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights
and obligations of the parties under the Share Exchange Agreement or any Ancillary Document, including the Registration Rights
Agreement. Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of Purchaser and
the Purchaser Representative or any of the obligations of Holder under any other agreement between Holder and Purchaser or the
Purchaser Representative or any certificate or instrument executed by Holder in favor of Purchaser or the Purchaser Representative,
and nothing in any other agreement, certificate or instrument shall limit any of the rights or remedies of Purchaser or the Purchaser
Representative or any of the obligations of Holder under this Agreement.

 

(l) 
Further Assurances. From time to time, at another party’s request and without further consideration (but at
the requesting party’s reasonable cost and expense), each party shall execute and deliver such additional documents and take
all such further action as may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(m) 
Counterparts; Facsimile.  This Agreement may also be executed and delivered by facsimile signature or by email
in portable document format in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

 

[Remainder of Page Intentionally Left
Blank; Signature Pages Follow]

 

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

 

	 	Purchaser:
	 	 
	 	GREENLAND ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/
Yanming Liu 
	 	Name: 	Yanming Liu
	 	Title:	Chairman and Chief
Executive Officer
	 	 	 
	 	The Purchaser Representative:
	 	 
	 	GREENLAND ASSET MANAGEMENT CORPORATION,
	 	in its capacity under the Share Exchange Agreement as the Purchaser Representative
	 	 
	 	By:	/s/
Yanming Liu 
	 	Name:  	Yanming Liu
	 	Title: 	Managing Member

 

 

 

{Additional Signature on the Following
Page}

 

{Signature Page to Lock-Up Agreement}

 

    

     

    

 

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

 

	Holder:	 
	 	 
	CENNTRO HOLDING LIMITED	 
	 	 	 
	By:	/s/
Peter Zuguang Wang	 
	Name: 	Peter Zuguang Wang	 
	Title: 	Chairman	 

  

Number and Type of Shares of Company Capital
Stock:

 

1,000,000 ordinary shares of Zhongchai
Holding (Hong Kong) Limited                                                                                                              

                                                                                                                                                                                                                               

 

Address for Notice:

 

Address:

11-F, Building #12, Sunking Plaza, Gaojiao Road

Hangzhou, Zhejiang, People’s Republic of China 311122

Telephone No.: (86) 571-85775711

Email: peterw@cenntro.com

 

 

 

{Signature Page to Lock-Up Agreement}

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