Document:

Exhibit 10.20

 Exhibit 10.20 
 ESCROW AGREEMENT 
 This Escrow Agreement is made and
entered into as of the     th
day of             , 2010, by and among ANDERSON & STRUDWICK, INCORPORATED, a Virginia corporation (the “Placement Agent”), TIBET PHARMACEUTICALS, INC., a British
Virgin Islands company (the “Company”) and SUNTRUST BANK (the “Escrow Agent”). 
 R E C I T A L S:

 A. The Company proposes to sell a minimum of 2,500,000 common shares and a maximum of 3,000,000 common shares (the
“Shares”) of the Company at a price of $         per share on a “best efforts, minimum/maximum” basis (the “Offering”). 

B. The Company has retained the Placement Agent, as agent for the Company to sell the Shares in the Offering, and the Placement Agent has
agreed to sell the shares in the Offering as the Company’s agent. 
 C. The Escrow Agent is willing to hold the proceeds of
the Offering in escrow pursuant to this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
and agreements contained in this Agreement, it is hereby agreed as follows: 
 1. Establishment of the Escrow Agent.
Contemporaneously herewith, the parties have established a non-interest-bearing account with the Escrow Agent, which escrow account is entitled “Tibet Pharmaceuticals, Inc. IPO Escrow Account” (the “Escrow Account”). The
Placement Agent will transfer funds directly to the Escrow Agent as directed by its customers and will instruct other purchasers of the Shares to make checks payable to the Escrow Agent. 

2. Escrow Period. The escrow period (the “Escrow Period”) shall begin with the commencement of the Offering and shall
terminate upon the earlier to occur of the following dates: 
 (a) the date on which the Escrow Agent confirms that it has
received in the Escrow Account gross proceeds of $15,000,000, representing the funds necessary to purchase the Shares (the “Maximum”); 
 (b) November 30, 2010; or 
 (c) the date on which the Placement Agent and the
Company notify the Escrow Agent in writing that the Offering has been terminated. 
 During the Escrow Period, the Company is
aware and understands that it is not entitled to any funds received into escrow and no amounts deposited in the Escrow Account shall become the property of the Company or any other entity, or be subject to the debts of the Company or any other
entity. 
 3. Deposits into the Escrow Account. The Placement Agent agrees that it shall deliver to the Escrow Agent for
deposit in the Escrow Account all monies received from purchasers of the Shares by noon of the next business day after receipt together with a written account of each sale, which account shall set forth, among other things, (i) the
purchaser’s name and address, (ii) the number of Shares purchased by the purchaser, (iii) the amount paid therefor by the purchaser, (iv) whether the consideration received from the purchaser was in the form of a check, draft or
money order, and (v) the purchaser’s social security or tax identification number. The Escrow Agent agrees to hold all monies so deposited in the Escrow Account (the “Escrow Amount”) for the benefit of the parties hereto until
authorized to disburse such monies under the terms of this Agreement. 

 4. Disbursements from the Escrow Account. In the event the Escrow Agent does not
receive minimum deposits totaling $15,000,000 prior to the termination of the Escrow Period, or if the Placement Agent and the Company notify the Escrow Agent that the Offering has been terminated, the Escrow Agent shall promptly refund to each
purchaser the amount received from the purchaser, without deduction, penalty, or expense to the purchaser, and the Escrow Agent shall notify the Company and the Placement Agent of its distribution of the funds. The purchase money returned to each
purchaser shall be free and clear of any and all claims of the Company or any of its creditors. 
 In the event the Escrow Agent
does not receive minimum deposits totaling $15,000,000 prior to termination of the Escrow Period, on the Closing Date (as defined in Section 8), the Escrow Agent shall disburse the Escrow Amount pursuant to the provisions of Section 6,
provided, however, in no event will the Escrow Amount be released to the Company until such amount is received by the Escrow Agent in collected funds. For purposes of this Agreement, the term “collected funds” shall mean all funds,
including fed funds, received by the Escrow Agent which have cleared normal banking channels. 
 5. Collection Procedure.

 (a) The Escrow Agent is hereby authorized to deposit each check in the Escrow Account. 

(b) In the event any check paid by a purchaser and deposited in the Escrow Account shall be returned, the Escrow Agent shall notify the
Placement Agent by telephone of such occurrence and advise it of the name of the purchaser, the amount of the check returned, and any other pertinent information. The Escrow Agent shall then transmit the returned check directly to the purchaser and
shall transmit the statement previously delivered by the Placement Agent relating to such purchase to the Placement Agent. 

(c) If the Company rejects any purchase of Shares for which the Escrow Agent has already collected funds, the Escrow Agent shall promptly
issue a refund check to the rejected purchaser. If the Placement Agent rejects any purchase for which the Escrow Agent has not yet collected funds but has submitted the purchaser’s check for collection, the Escrow Agent shall promptly issue a
check in the amount of the purchaser’s check to the rejected purchaser after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet submitted a rejected purchaser’s check for collection, the Escrow Agent shall promptly
remit the purchaser’s check directly to the purchaser. 
 6. Delivery of Escrow Account. 

(a) Prior to the Closing (as defined in Section 8 of this Agreement), the Placement Agent and the Company shall provide the Escrow
Agent with a statement, executed by each party, containing the following information: 
 (i) The total number of Shares sold by
the Placement Agent directly to purchasers and a list of each purchaser, and the number of Shares purchased by such purchaser, and specification of the manner in which the Shares should be issued; and 

(ii) A calculation by the Placement Agent and the Company as to the manner in which the Escrow Account should be distributed to the
Company and the Placement Agent and in the event of oversubscription or rejection of certain purchasers, the aggregate amount to be returned to individual purchasers and a listing of the exact amount to be returned to each such purchaser.

 The Escrow Agent shall hold the Escrow Account and distribute it in accordance with the above-described statement on the date
of Closing or such later date that it receives the above-described statement. 
 (b) Upon termination of the Offering by the
Company or the Placement Agent for any reason, the Escrow Agent shall return to the purchasers who contributed to the Escrow Account the exact amount contributed by them. 
 7. Investment of Escrow Account. The Escrow Agent shall deposit funds received from purchasers in the Escrow Account, which shall be a non-interest-bearing bank account at SunTrust Bank.

  

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 8. Closing Date. The “Closing” shall be the date of closing of the
Offering, and the “Closing Date” shall be the date on or subsequent to the date on which the Escrow Agent has received minimum deposits of at least $10,002,000 in collected funds that is designated to the Escrow Agent by the Placement
Agent and the Company as the Closing Date. 
 9. Compensation of Escrow Agent. The Company shall pay the Escrow Agent a
fee for its services hereunder in an amount equal to One Thousand Five Hundred Dollars ($1,500), which amount shall be paid on the Closing Date. In the event the Offering is canceled for any reason, the Company shall pay the Escrow Agent its fee
within ten (10) days after the Escrow Amount is refunded to purchasers. No such fee or any other monies whatsoever shall be paid out of or chargeable to the funds on deposit in the Escrow Account. 

10. Disbursement into Court. If, at any time, there shall exist any dispute between the Company, the Placement Agent and/or the
purchasers with respect to the holding or disposition of any portion of the Escrow Amount or any other obligations of the Escrow Agent hereunder, or if at any time the Escrow Agent is unable to determine, to the Escrow Agent’s sole
satisfaction, the proper disposition of any portion of the Escrow Amount or the Escrow Agent’s proper actions with respect to its obligations hereunder, or if the Company and the Placement Agent have not within 30 days of the furnishing by the
Escrow Agent of a notice of resignation appointed a successor Escrow Agent to act hereunder, then the Escrow Agent may, in its sole discretion, take either or both of the following actions: 

(a) suspend the performance of any of its obligations under this Escrow Agreement until such dispute or uncertainty shall be resolved to
the sole satisfaction of the Escrow Agent or until a successor Escrow Agent shall have been appointed (as the case may be); provided, however, that the Escrow Agent shall continue to hold the Escrow Amount in accordance with Section 7
hereof; and/or 
 (b) petition (by means of an interpleader action or any other appropriate method) any court of competent
jurisdiction in Richmond, Virginia, for instructions with respect to such dispute or uncertainty, and pay into court all funds held by it in the Escrow Account for holding and disposition in accordance with the instructions of such court.

 The Escrow Agent shall have no liability to the Company, the Placement Agent or any other person with respect to any such
suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of or as a result of any delay in the disbursement of funds held in the Escrow Account
or any delay in or with respect to any other action required or requested of the Escrow Agent. 
 11. Duties and Rights of
the Escrow Agent. The foregoing agreements and obligations of the Escrow Agent are subject to the following provisions: 

(a) The Escrow Agent’s duties hereunder are limited solely to the safekeeping of the Escrow Account in accordance with the terms of
this Agreement. It is agreed that the duties of the Escrow Agent are only such as herein specifically provided, being purely of a ministerial nature, and the Escrow Agent shall incur no liability whatsoever except for negligence, willful misconduct
or bad faith. 
 (b) The Escrow Agent is authorized to rely on any document believed by the Escrow Agent to be authentic in
making any delivery of the Escrow Account or the certificates representing the Shares. It shall have no responsibility for the genuineness or the validity of any document or any other item deposited with it and it shall be fully protected in acting
in accordance with this Agreement or instructions received. 
 (c) The Company and the Placement Agent hereby waive any suit,
claim, demand or cause of action of any kind which they may have or may assert against the Escrow Agent arising out of or relating to the execution or performance by the Escrow Agent of this Agreement, unless such suit, claim, demand or cause of
action is based upon the gross negligence, willful misconduct, or bad faith of the Escrow Agent. 
  

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 12. Notices. It if further agreed as follows: 

(a) All notices given hereunder will be in writing, served by registered or certified mail, return receipt requested, postage prepaid,
express courier, or by hand-delivery, to the parties at the following addresses: 
 to the Company: 

Tibet Pharmaceuticals, Inc. 
 Room 1701, 17/F 
 90 Jaffe Rd. 

Wanchai, Hong Kong 
 Attention: Taylor Z. Gao, Chief Executive Officer 
 to the Placement Agent:

 Anderson & Strudwick, Incorporated 

707 East Main Street, 20th Floor 
 Richmond, Virginia 23219 
 Attention: L. McCarthy Downs, III 

Facsimile: (804) 648-3404 
 with copy to: 
 Kaufman & Canoles, P.C. 

Three James Center 
 1051 East Cary Street 
 12th Floor 

Richmond, Virginia 23219 
 Attention: Bradley A. Haneberg, Esq. 
 to the Escrow Agent: 

SunTrust Bank 

919 East Main Street 
 7th Floor

 Richmond, Virginia 23219 
 Attention: Matthew Ward 
 13. Miscellaneous. 

(a) This Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors
and assigns. 
 (b) If any provision of this Agreement shall be held invalid by any court of competent jurisdiction, such
holding shall not invalidate any other provision hereof. 
 (c) This Agreement shall be governed by the applicable laws of the
Commonwealth of Virginia. 
 (d) This Agreement may not be modified except in writing signed by the parties hereto. 

(e) All demands, notices, approvals, consents, requests and other communications hereunder shall be given in the manner provided in this
Agreement. 
 (f) This Agreement may be executed in one or more counterparts, and if executed in more than one counterpart, the
executed counterparts shall together constitute a single instrument. 
  

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 [Tibet Pharmaceuticals, Inc. - Escrow Agreement Execution Page] 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in their respective names, all as of the date first
above written. 
  

			
	ANDERSON & STRUDWICK, INCORPORATED
		
	By:	 	  

		 	L. McCarthy Downs, III
		 	Managing Director
	
	TIBET PHARMACEUTICALS, INC.
		
	By:	 	  

	Name:	 	Taylor Z. Gao
	Title:	 	Chief Executive Officer
	
	SUNTRUST BANK
		
	By:	 	  

	Name:	 	Matthew Ward
	Title:	 	Assistant Vice President

  

 5Exhibit 10.21

 Exhibit 10.21 

 

 

 LETTER OF ENGAGEMENT 
 Tibet Pharmaceuticals, Inc. 
 October 12, 2010 

The following sets forth the agreement (this “Agreement”) for the engagement of Trilogy Capital Partners, Inc.,
(“Trilogy”) by Tibet Pharmaceuticals, Inc. (“Tibet” or the “Company”): 
  

	 Term and Termination 
	Six months, commencing as of the date the Company closes its Initial Public Offering (“IPO”) (the “Initial Term”), and terminable thereafter by either party upon 20
days’ prior written notice. The Initial Term shall commence on the date set forth above (the “Commencement Date”). 

  

	 Objective 
	The development and implementation of a proactive financial communications program designed to increase the investor awareness of the Company in the investment community and generate a
significant increase in liquidity. 

  

	 The Program 
	Trilogy will work with the Company to structure and implement a marketing program designed to create extensive financial market and investor awareness for the Company to drive long-term
shareholder support and assist in generating a market capitalization consistent with the Company’s intrinsic financial values. The core drivers of the program will be to provide information to potential institutional and retail investors about
the Company and its business to stimulate interest in investment in the Company’s stock. The program will utilize technology-driven communications to attract additional long term investors and to create additional opportunities in M&A and
Business Development. As share price is affected by various factors unrelated to Trilogy’s efforts, Trilogy can give no assurance that the marketing program will result in an increase in the Company’s stock price. 

 

	 	Current law provides that during any period in which the Company is in “registration” for a public offering of securities under the Securities Act of 1933, and during the distribution
of such securities, the 

  

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Company’s investor relations and marketing efforts must be severely limited. To ensure that Trilogy does not violate this requirement, the Company will advise Trilogy in writing whenever a
registration statement is filed or a registration is pending for any of the Company’s securities. It will be the responsibility of the Company (with the advice of its securities counsel) to determine and advise Trilogy as to what investor
relations and financial marketing efforts are permissible and not permissible during such periods. Trilogy will advise the Company in advance of any proposed investor relations or financial marketing efforts and follow the direction of the Company
and its securities counsel with regard thereto. Unless the Company advises Trilogy to the contrary, Trilogy will proceed with any planned marketing program. 
  

	 IR Documents 
	Trilogy shall assist the Company in preparing and disseminating investor relations documents, materials and Company presentations (“IR Documents”), including without limitation
press releases, online communications and the Company’s website. The Company assumes full responsibility for the accuracy and completeness of all IR Documents and for their compliance with applicable laws, rules and regulations. Trilogy shall
have no obligation or duty to verify the accuracy or completeness of the IR Documents or their compliance with applicable law. Trilogy shall have the right to refuse to release or publish or participate in the release or publication of any IR
Document that has not been approved in writing by the Company or that it reasonably believes to contain a misstatement of material fact, to omit to state any material fact or to otherwise not fully comply with applicable law.

  

	 SEC & Legal Compliance 
	Trilogy hereby represents that it has in place policies and procedures relating to, and addressing, with the commercially reasonable intent to ensure compliance with, applicable securities laws,
rules and regulations, including, but not limited to: 

  

	 	1.	 	The use, release or other publication of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange
Act 

  

	 	2.	 	Disclosure requirements outlined in Section 17B of the Exchange Act regarding the required disclosure of the nature and terms of Trilogy’s relationship with
the Company in any and all of Trilogy’s literature or other communication(s) relating to the Company, including, but not limited to: Press Releases, letters to investors and telephone or other personal communication(s) with potential or current
investors. 

  

	 	 Trilogy further acknowledges that by the very nature of its relationship with the Company, it will, from time to time, have knowledge of or access to material non-public information (as such
term is defined by the Exchange Act). Trilogy hereby agrees and covenants that: 

  

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	 	1.	 	Trilogy will not make any purchases or sales in the stock of the Company based on such information. 

 

	 	2.	 	Trilogy will utilize its commercially reasonable efforts to safeguard and prevent the dissemination of such information to third parties unless authorized in writing by
the Company to do so as may be necessary in the performance of its Services under this Agreement. 

  

	 	Trilogy will not, in any way, utilize or otherwise include such information, in actual form or in substantive content, in its analysis for, preparation of or release of any of Trilogy literature
or other communication(s) relating to the Company, including, but not limited to: Press Releases, letters to investors and telephone or other personal communication(s) with potential or current investors. 

 

	 Fees 
	The Company agrees to pay to Trilogy a fee (the “Base Fee”) for the six month Initial Term at the rate of Seven Thousand Five Hundred Dollars ($7500) per month, the initial
payment of which shall be paid directly from the proceeds of the Company's IPO upon the completion of the IPO 

  

	 	If the Commencement Date is not on the first day of the month, the Company shall pay to Trilogy a pro rata share of the monthly fee for the remainder of such month (based on a 30-day month) plus
the monthly fee for the following month. Subsequent payments shall be due on the first day of each month thereafter (including payments for services after the Initial Term). 

 

	 	All payments shall be made by wire transfer of funds to such account as may be designated by Trilogy. 

 

	 	Wiring Instructions are as follows: 

 Trilogy
Capital Partners, Inc. 

	 Signature Bank New York 

 Private Client Group 
 261 Madison Avenue 

New York, NY 10016 
 Account No.: 1500565515 
 ABA No.: 026013576 

 

	 	 As a material inducement to Trilogy to execute this Agreement, the Company shall issue to Trilogy a number of shares (the “Shares”) of restricted common stock of the Company
equal to Two Hundred Thousand Dollars ($200,000) valued at the IPO per-share price pursuant to a Stock Issuance Agreement entered into concurrently with this Agreement. One Half (1/2) of the Shares shall be issued on the Commencement Date
(“First Tranche”) and One Half (1/2) of the 

  

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Shares shall be issued Ninety (90) days following the Commencement Date (“Second Tranche”) (collectively the “Respective Issuance Dates”.) In the event the Company
terminates this Agreement within ninety days from the Commencement Date, the Company shall not be obligated to issue the Second Tranche of Shares nor shall the Company be further obligated to pay to Trilogy the monthly $7,500 Base Fee. In the event
either the Company or Trilogy terminates this Agreement after the first ninety days following the Commencement Date, Trilogy shall be entitled to retain both the First Tranche and the Second Tranche of Shares, however the Company shall not be
required to pay any additional $7,500 monthly Base Fee. The Shares shall be deemed earned as of the respective Issuance Dates and shall be delivered to Trilogy as soon as possible. 

 

	 Marketing Budget 
	Tier 1. 

  

	 	In accordance with the Tier 1. marketing plan to be provided to the Company, Trilogy will work in conjunction with the Company’s management and securities counsel. Notwithstanding anything
to the contrary in this Agreement, Trilogy shall be responsible for setting-up the Company’s website, presentation materials and other related IR Documents, which documents shall belong to the Company after the termination of this Agreement.

  

	 	The Tier 1. marketing plan includes the following: 

  

	 	•	 	 Campaign Planning, Development and Execution 

  

	 	•	 	 Press Announcements: Drafting, Approval and Distribution 

 

	 	•	 	 Internal Database Development and Management 

  

	 	•	 	 Image Analysis: Recommendations and Implementation 

  

	 	•	 	 Messaging: Institutional and Retail 

  

	 	•	 	 Website Overhaul including installation and maintenance of auto IR program 

 

	 	•	 	 Media including Investor Fact Sheets, White Papers, Interactives and PowerPoints 

 

	 	Tier 2. 

  

	 	The Tier 2. financial marketing program provided by Trilogy is highly proactive and requires the Company to incur certain third party marketing costs. Such costs shall, at Trilogy’s
election, be invoiced directly to the Company or paid by Trilogy and reimbursed by the Company. Trilogy will not incur these costs on behalf of the Company except with the approval of the Company or pursuant to a budget approved by the Company. The
Company understands that prompt payment of these costs is vital to the on-going investor relations program. 

  

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 The Tier 2. marketing plan includes all of Tier 1. and additionally: 

 

	 	•	 	 Direct Mail: Institutional including fund managers, Shareholders, Media and the Company’s relationship universe 

 

	 	•	 	 Public Relations 

  

	 	•	 	 Capital Conferences 

  

	 	•	 	 Research Reports (CFA compliant) and broad distribution 

 

	 	•	 	 Market Commentators 

  

	 	•	 	 Financial Newsletters 

  

	 	•	 	 Third Party Investor Databases 

  

	 	•	 	 Online presentations: Drafting, Production and Distribution 

 

	 Indemnification 
	The Company unconditionally, absolutely and irrevocably agrees to and shall indemnify and hold harmless Trilogy and its past, present and future directors, officers, affiliates, counsel,
shareholders, employees, agents, representatives, contractors, successors and assigns (Trilogy and such persons are collectively referred to as the “Indemnified Persons”) from and against any and all losses, claims, costs, expenses,
liabilities and damages (or actions in respect thereof) arising out of or related to this Agreement, the performance of services pursuant to the Agreement, and any actions taken or omitted to be taken by an Indemnified Party in connection with this
Agreement (“Indemnified Claim”). Without limiting the generality of the foregoing, such indemnification shall cover losses, claims, costs, expenses, liabilities and damages imposed on or incurred by the Indemnified Persons, directly
or indirectly, relating to, resulting from, or arising out of any actual or alleged misstatement of fact or omission of fact, or any actual or alleged inaccuracy in any information provided or approved by the Company in connection with the
engagement, including any actual or alleged misstatement, omission or inaccuracy in any SEC filing, press release, website, marketing material or other document, or oral presentation or webcast, whether or not the Indemnified Persons
relied thereon or had knowledge thereof. 

  

	 Terms and Conditions 
	The Company agrees to all of the Terms and Conditions that are attached hereto and are deemed to be part of this Agreement. 

The remainder of this page intentionally left blank. 

 

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 SIGNATURE PAGE TO LETTER OF ENGAGEMENT BETWEEN TIBET 

PHARMACEUTICALS, INC. AND TRILOGY CAPITAL PARTNERS, INC. DATED 
 OCTOBER         , 2010 
 Agreed and Accepted: 

 

									
	 TIBET PHARMACEUTICALS, INC.
	 		 	TRILOGY CAPITAL PARTNERS, INC.
					
	By	 	/s/    Taylor Z. Guo	 		 	By:	 	/s/    A.J. Cervantes
					
	Name	 	Taylor Z. Guo	 		 	Name	 	A.J. Cervantes
					
	Title	 	Chief Executive Officer	 		 	Title	 	CEO

  

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 Terms and Conditions of Letter of Engagement 

“Confidential Information” means all technical, commercial, financial or other information concerning the business,
affairs and operations of the Company and its affiliates and which the Company or its agents or representatives have provided or will provide to Trilogy in connection with its services hereunder whether provided in writing, electronically or
verbally. Notwithstanding the foregoing, the following will not constitute “Confidential Information” for purposes of this Agreement: (i) information which is available in the public domain or marketplace; (ii) information which
after disclosure to Trilogy by the Company becomes part of the public domain by publication or otherwise, except by breach by Trilogy of the terms of this Agreement; (iii) information which was rightfully in the possession of Trilogy at the
time of disclosure to Trilogy by the Company; and (iv) information which is rightfully received by Trilogy from a third party who is not prohibited from transmitting the information to Trilogy by a contractual, legal or fiduciary obligation to
the Company. 
 Without the consent of the Company, Trilogy may disclose Confidential Information pursuant to legal process or
as otherwise required by law, to enforce its rights under this Agreement, and/or to defend itself or any of its officers, directors, agents or affiliates in connection any claim, action or proceeding arising out of or related to this Agreement, the
performance of services pursuant to the Agreement, or any actions taken or omitted to be taken by an Indemnified Party in connection with this Agreement. 
 1. Corporate Obligations. The obligations of Trilogy under this Agreement are solely corporate obligations, and no officer, director, employee, agent, shareholder or controlling person of Trilogy
shall be subject to any personal liability whatsoever to any person, nor will any such claim be asserted by or on behalf of any other party to this Agreement. 
 2. Limitation of Liability. In no event shall Trilogy be liable for consequential damages, even if it has been advised thereof. In no event shall Trilogy’s liability exceed the fees
paid to it pursuant to this Agreement. 
 3. Additional Services. If Trilogy is called upon to render services directly
or indirectly relating to the subject matter of this Agreement beyond the services contemplated above (including, but not limited to, production of documents, answering interrogatories, giving depositions, giving expert or other testimony, whether
by agreement, subpoena or otherwise), the Company shall pay to Trilogy a reasonable hourly rate for the persons involved for the time expended in rendering such services, including, but not limited to, time for meetings, conferences, preparation and
travel, and all related costs and expenses and the reasonable legal fees and expenses of Trilogy’s counsel. This Section is not intended to address circumstances in which Trilogy has a claim for indemnification, which circumstances are
addressed by Exhibit A to this Agreement. 
 4. Survival of Certain Provisions. The Sections of this Agreement entitled
“Indemnification”, “Corporate Obligations,” “Limitation of Liability,” “Additional Services,” “Attorneys’ Fees” and “Governing Law” shall survive any

  

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termination of this Agreement and Trilogy’s engagement pursuant to this Agreement. In addition, such termination shall not terminate Trilogy’s right to compensation accrued through the
date of termination and for reimbursement of allowed expenses (including third party marketing costs). Any purported termination of this Agreement by the Company prior to the end of the Initial Term other than for material breach or default under
“Term and Termination” above, or any termination by Trilogy as a result of material breach or default by the Company under “Term and Termination” above, shall not terminate Trilogy’s right to the entire Base Fee. 

6. Services/Reimbursable Expenses. The Base Fee and other monthly fees paid to Trilogy under this Agreement will cover all
services rendered by Trilogy and Trilogy personnel. Travel and entertainment costs for Trilogy personnel, in addition to certain third-party costs, will be borne and paid or reimbursed by the Company. Trilogy will provide reasonable documentation to
support reimbursement claims. Trilogy will not incur any individual reimbursable cost of $500 or more that is not included in the approved marketing budget without the written approval from the Company. 

7. Attorneys’ Fees. If any action or proceeding is brought to enforce or interpret any provision of this Agreement, the
prevailing party shall be entitled to recover as an element of its costs, and not its damages, reasonable attorneys’ fees to be fixed by the court. 
 8. Governing Law. This Agreement is made and entered into at New York City, New York, and shall be governed by New York law without giving effect to the principles of conflicts of law thereof. The
invalidity of any provision shall not affect the remaining provisions. The parties hereby consent to the exclusive jurisdiction, venue and forum of any state or federal court in New York City, New York with respect to any action, which, in whole or
in part, in any manner arises under or relates to this Agreement. 
  

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 STOCK ISSUANCE AGREEMENT 

This STOCK ISSUANCE AGREEMENT (this “Agreement”) is made and entered into as of October 12, 2010, by and between
Trilogy Capital Partners, Inc. (“Trilogy”) and Tibet Pharmaceuticals, Inc., a British Virgin Islands corporation (the “Company”), with reference to the following facts: 

A. Trilogy and the Company have concurrently herewith entered into that certain Letter of Engagement (the “LOE”)
pursuant to which the Company has engaged Trilogy to provide investor relations services. 
 B. This constitutes the Stock
Issuance Agreement contemplated by the LOE. 
 NOW, THEREFORE, with reference to the foregoing facts, Trilogy and the Company
agree as follows: 
  

	1.	Issuance of Shares. 

 As
a material inducement to Trilogy to enter into the LOE, the Company shall issue to Trilogy a number of shares (the “Shares”) of restricted common stock of the Company equal to Two Hundred Thousand Dollars ($200,000) valued at the
IPO per-share price pursuant to a Stock Issuance Agreement entered into concurrently with this Agreement. One Half (1/2) of the Shares shall be issued on the Commence Date (“First Tranche”) and One Half (1/2) of the Shares shall
be issued Ninety (90) days following the Commence Date (“Second Tranche”) (collectively the “Respective Issuance Dates”.) In the event the Company terminates this Agreement within ninety days from the Commencement Date, the
Company shall not be obligated to issue the Second Tranche of Shares nor shall the Company be further obligated to pay to Trilogy the monthly $7,500 Base Fee. In the event either the Company or Trilogy terminates this Agreement after the first
ninety days following the Commencement Date, Trilogy shall be entitled to retain both the First Tranche and the Second Tranche of Shares, however the Company shall not be required to pay any additional $7,500 monthly Base Fee. The Shares shall be
deemed earned as of the respective Issuance Dates and shall be delivered to Trilogy as soon as possible. 
  

	2.	Representations and Warranties of the Company 

 The Company represents and warrants to Trilogy as follows: 
 2.1 The Company is a
corporation duly organized, validly existing and in good standing under the laws of the state referenced in the first paragraph of this Agreement and has all requisite corporate power to own, lease and operate its

  

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property and to carry on its business as now being conducted and as currently proposed to be conducted. 
 2.2 This Agreement and the LOE have been duly authorized by all necessary corporate action and constitute valid and binding obligations of the Company, enforceable against the Company in accordance with
their terms, subject, as to enforcement of remedies, to applicable bankruptcy, insolvency, moratorium, reorganization and similar laws affecting creditors’ rights generally and to general equitable principles. 

2.3 The Shares have been duly authorized and are validly issued, fully paid and non-assessable. 

2.4 All consents, approvals, orders, authorizations or registrations, qualifications, declarations or filings with any federal or state
governmental authority on the part of the Company to issue the Shares have been obtained. 
  

	3.	Representations, Warranties and Agreements of Trilogy 

 Trilogy represents and warrants to, and agrees with, the Company as follows: 
 3.1
Trilogy is acquiring the Shares for its own account, for investment purposes only and not with a view to distribution in violation of the Securities Act of 1933, as amended (the “Securities Act”). 

3.2 Trilogy understands that an investment in the Shares involves a high degree of risk, and Trilogy has the financial ability to bear
the economic risk of this investment in the Shares, including a complete loss of such investment. 
 3.3 Trilogy has such
knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of an investment in the Shares and in protecting its own interest in connection with this transaction. 

3.4 Trilogy understands that the issuance of the Shares to Trilogy has not been registered under the Securities Act. Trilogy is familiar
with the provisions of the Securities Act and Rule 144 thereunder and understands that the restrictions on transfer of the Shares may result in Trilogy being required to hold the Shares for an indefinite period of time unless the transfer by the
undersigned is registered under the Securities Act. 
 3.5 Trilogy agrees that each certificate evidencing the Shares will bear
the following legend (or a legend substantially similar to the following): 
 “THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE EXERCISED, SOLD, PLEDGED OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION 

 

 2625 Townsgate Road, Suite 330, Westlake Village, CA 91361 

 
STATEMENT FOR SUCH SECURITIES UNDER THE ACT OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.” 
  

	4.	Miscellaneous 

 4.1
Notices. All notices, requests, demands and other communications (collectively, “Notices”) given pursuant to this Agreement shall be in writing, and shall be delivered by personal service, courier, facsimile
transmission or by United States first class, registered or certified mail, postage prepaid, addressed to the party at the address set forth on the signature page of this Agreement. Any Notice, other than a Notice sent by registered or certified
mail, shall be effective when received; a Notice sent by registered or certified mail, postage prepaid return receipt requested, shall be effective on the earlier of when received or the third day following deposit in the United States mails. Any
party may from time to time change its address for further Notices hereunder by giving notice to the other party in the manner prescribed in this Section. 
 4.2 Attorneys Fees. If any action or proceeding is brought to enforce or interpret any provision of this Agreement, the prevailing party shall be entitled to recover as an element of its costs, and
not its damages, reasonable attorneys’ fees to be fixed by the court. 
 4.3 Governing Law. This Agreement is made
and entered into at New York City, N.Y., and shall be governed by New York law without giving effect to the principles of conflicts of law thereof. The invalidity of any provision shall not affect the remaining provisions. The parties hereby consent
to the exclusive jurisdiction, venue and forum of any state or federal court in New York City, N.Y. with respect to any action, which, in whole or in part, in any manner arises under or relates to this Agreement. 

4.4 Severability. Whenever possible each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be or become prohibited or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity without invalidating the
remainder of such provision or the remaining provisions of this Agreement. 
 4.5 Captions. The various captions
of this Agreement are for reference only and shall not be considered or referred to in resolving questions of interpretation of this Agreement. 
 4.6 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same
instrument. 
 4.7 Assignment. The registration rights under Section 4 of this Agreement may be assigned to any
purchaser of any of the Shares, whereupon such purchaser 
  

 2625 Townsgate Road, Suite 330, Westlake Village, CA 91361 

 
shall have all of the rights of Trilogy with respect to the purchased Shares and shall be subject to all of the obligations of Trilogy with respect to any registration. 

IN WITNESS WHEREOF, the Company and Trilogy have executed this Agreement as of the day and year first above written. 

 

			
	 TIBET PHARMACEUTICALS, INC.
 Room 1701
,17th Floor

90 Jaffe Road
 Wanchai, Hong
Kong

		
	 By:
	 	/s/    Taylor Z. Guo
		
	 Its:
	 	Chief Executive Officer

 

			
	 TRILOGY CAPITAL PARTNERS, INC.
 2625 Townsgate Road, Suite 330
 Westlake Village, CA 91361

		
	 By:
	 	/s/    A.J. Cervantes
		
	 Its:
	 	CEO

  

 2625 Townsgate Road, Suite 330, Westlake Village, CA 91361 

 AMENDMENT TO LETTER OF ENGAGEMENT AND 

STOCK ISSUANCE AGREEMENT 

Trilogy Capital Partners, Inc. (“Trilogy”) and Tibet Pharmaceuticals, Inc. (“Tibet”), for the covenants made herein and for other
good and valuable consideration the receipt and sufficiency of which each party acknowledges, hereby agree to amend and modify the Letter of Engagement and the Stock Issuance Agreement entered into by and between Trilogy and Tibet as of
October 12, 2010. Trilogy and Tibet hereby amend the Letter of Engagement and the Stock Issuance Agreement as follows: 
  

	 	1.	Trilogy and Tibet amend the Letter of Engagement by deleting the following language from the “Fees” section thereof: 

As a material inducement to Trilogy to execute this Agreement, the Company shall issue to Trilogy a number of shares (the
“Shares”) of restricted common stock of the Company equal to Two Hundred Thousand Dollars ($200,000) valued at the IPO per-share price pursuant to a Stock Issuance Agreement entered into concurrently with this Agreement. One Half
(1/2) of the Shares shall be issued on the Commencement Date (“First Tranche”) and One Half (1/2) of the Shares shall be issued Ninety (90) days following the Commencement Date (“Second Tranche”) (collectively the
“Respective Issuance Dates”.) 
 And inserting in its place the following language: 

As a material inducement to Trilogy to execute this Agreement, the Company shall issue to Trilogy 33,334 shares (the
“Shares”) of restricted common stock of the Company pursuant to a Stock Issuance Agreement entered into concurrently with this Agreement. One Half (1/2) of the Shares, or 16,667 Shares, shall be issued two (2) business
days after the date of the IPO, as defined above (“First Tranche”), and One Half (1/2) of the Shares, or 16,667 Shares, shall be issued Ninety (90) days following the issuance of the First Tranche (“Second Tranche”)
(collectively the “Respective Issuance Dates”.). 
 The remainder of the amended paragraph shall remain unaltered.

  

	 	2.	Trilogy and Tibet amend the Stock Issuance Agreement by deleting the following language from Section 1 thereof (“Issuance of Shares”):

 As a material inducement to Trilogy to enter into the LOE, the Company shall issue to Trilogy a number of
shares (the “Shares”) of restricted common stock of the Company equal to Two Hundred Thousand Dollars ($200,000) valued at the IPO per-share price pursuant to a Stock Issuance Agreement entered into concurrently with this Agreement.
One Half (1/2) of the Shares shall be issued on the Commencement Date 
  

 2625 Townsgate Road, Suite 330, Westlake Village, CA 91361 

 
(“First Tranche”) and One Half (1/2) of the Shares shall be issued Ninety (90) days following the Commencement Date (“Second Tranche”) (collectively the
“Respective Issuance Dates”.), 
 And substituting the following language in its place: 

As a material inducement to Trilogy to enter into the LOE, the Company shall issue to Trilogy 33,334 shares (the
“Shares”) of restricted common stock of the Company. One Half (1/2) of the Shares, or 16,667 Shares, shall be issued two (2) business days after the date of Tibet’s IPO, as defined in the LOE (“First
Tranche”), and One Half (1/2) of the Shares, or 16,667 Shares, shall be issued Ninety (90) days following the date of the issuance of the First Tranche (“Second Tranche”) (collectively the “Respective Issuance
Dates”.). 
 The remainder of Section 1 of the Share Issuance Agreement shall remain unaltered. 

 

	 	3.	The Letter of Engagement and the Share Issuance Agreement, as so amended, shall remain in full force and effect. This amendment shall be deemed to be effective as of
the Commencement Date as set forth in those agreements. 

 IN WITNESS WHEREOF, the Company and
Trilogy have executed this Amendment to Letter of Engagement and Stock Issuance Agreement as of this 15th day of October, 2010. 
  

			
	 TIBET PHARMACEUTICALS, INC.
 Room 1701, 17/F
 90 Jaffe Road
 Wanchai, Hong Kong

		
	 By:
	 	/s/ Taylor Z. Guo
		
	 Its:
	 	Chief Executive Officer

 

			
	 TRILOGY CAPITAL PARTNERS, INC.
 2625 Townsgate Road, Suite 330
 Westlake Village, CA 91361

		
	 By:
	 	/s/ A. J. Cervantes
		
	 Its:
	 	Chief Executive Officer

  

 2625 Townsgate Road, Suite 330, Westlake Village, CA 91361

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