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EXHIBIT 10.5

PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K
FOR FISCAL YEAR ENDED DECEMBER 31, 2021

SUMMARY OF PERQUISITES FOR EXECUTIVE OFFICERS
OF PEOPLES BANCORP INC.

Peoples Bancorp Inc. ("Peoples") maintains an Executive Health Program, which provides an opportunity for each executive officer to participate, on a voluntary basis, in a comprehensive medical screening annually at the expense of Peoples.  The objective of the Executive Health Program is the early identification of potential health problems and the prompt, expert treatment of any medical problems detected, thereby mitigating the negative potential impact on Peoples' financial performance or current management succession plans.  Peoples offers a limited reimbursement for fitness club memberships, which is available to all employees, and is part of an overall wellness initiative at Peoples.  In 2021, named executive officers participated in a wellness incentive program, available to all Peoples medical plan participants, which provided up to a one-time $1,250 payment to a Health Savings or Flexible Spending Account, depending upon individual compliance with the program’s requirements, which include wellness related activities.
Based on business need, on a case-by-case basis, the Compensation Committee of Peoples' Board of Directors has granted the use of a company-paid automobile and/or country club membership to certain executive officers to further business development on behalf of Peoples and our shareholders.  Personal use of a company-paid automobile is reported as income to the executive officer.  Expenses relating to personal use of the country club amenities are either reimbursed to Peoples or paid by the named executive officer.
On a case-by-case basis, the Compensation Committee will approve the payment of or reimbursement to an executive officer for moving expenses and temporary housing as part of the executive officer's recruitment package.Document

EXHIBIT 10.6

PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K
FOR FISCAL YEAR ENDED DECEMBER 31, 2021

SUMMARY OF BASE SALARIES FOR EXECUTIVE OFFICERS 
OF PEOPLES BANCORP INC.

The base salaries of executive officers of Peoples Bancorp Inc. (“Peoples”) are determined by evaluating the most recent comparative peer data and the role and responsibilities of their positions.  Individual salary increases are reviewed annually and are based on Peoples' overall performance and the executive's attainment of specific individual business objectives during the preceding year.

The following table details the base salaries to be paid by Peoples and its subsidiaries for the fiscal year ending December 31, 2021 to Charles W. Sulerzyski, President and Chief Executive Officer of Peoples; Katie Bailey, Executive Vice President, Chief Financial Officer and Treasurer of Peoples; and the three other most highly compensated executive officers of Peoples serving as executive officers at December 31, 2021: 
									
	Name	Position/Title	Base Salary
	Charles W. Sulerzyski	President and Chief Executive Officer	$	658,750 	
			
	Katie Bailey	Executive Vice President, Chief Financial Officer and Treasurer	275,000 	
			
	Doug Wyatt	Executive Vice President, Chief Commercial Banking Officer	300,000 	
			
	Tyler Wilcox	Executive Vice President, Community Banking	275,000 	
			
	Jason Eakle	Executive Vice President, Chief Credit Officer	235,000Document

EXHIBIT 10.7

PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K 
FOR FISCAL YEAR ENDED DECEMBER 31, 2021

Summary of Compensation for 
Directors of Peoples Bancorp Inc. 

The Compensation Committee of the Board of Directors of Peoples Bancorp Inc. ("Peoples") believes the combination of cash and equity-based compensation (in the form of common shares) in its director compensation model promotes independent decision-making on the part of directors as the common shares have immediate value, unlike stock options or similar forms of equity-based awards.  From January 1, 2021 through December 31, 2021, an annual retainer of $47,500 was paid in quarterly installments.  The annual retainer was paid 60% in cash and 40% in the form of the number of common shares with an equivalent fair market value at the time of payment. 
In 2021, each director, other than Mr. Sulerzyski, received an additional retainer of $15,000, paid 100% in the form of common shares with an equivalent fair market value at the time of payment.
In 2021, the chairs of the Compensation, Governance and Nominating, and Risk Committees each received an additional annual retainer of $5,000 paid in quarterly installments.  In 2021, the chair of the Audit Committee received an additional retainer at an annual rate of $10,000 paid in quarterly installments.  Each of these annual retainers was paid 60% in cash and 40% in the form of the number of common shares with an equivalent fair market value at the time of payment. 
In 2021, the Chairman of the Board of Peoples received an additional retainer at an annual rate of $50,000 paid in quarterly installments.  The additional annual retainer was paid 60% in cash and 40% in the form of the number of common shares with an equivalent fair market value at the time of payment.
All directors of Peoples are also directors of Peoples Bank.  Directors receive compensation for their service as Peoples Bank directors in addition to the compensation received for their service as directors of Peoples.  From January 1, 2021 through December 31, 2021, each director of Peoples, other than Mr. Sulerzyski, received for service as a director of Peoples Bank an annual retainer of $12,000 paid in quarterly installments.  Each of these annual retainers was paid 60% in cash and 40% in the form of the number of common shares with an equivalent fair market value at the time of payment.
Directors who travel a distance of 50 miles or more to attend a Board or Board committee meeting of Peoples or Peoples Bank receive a $150 travel fee.  A single travel fee of $150 is paid for multiple meetings occurring on the same day or consecutive days.  Directors who travel a distance of 500 miles or more (round trip) to attend a Board of Directors or Board committee meeting are reimbursed for the actual cost of reasonable travel expenses including coach class airfare, car rental, and other usual and customary travel expense in lieu of the $150 fee.  Directors who stay overnight to attend a meeting are reimbursed for the actual cost of their overnight accommodations.  Peoples believes these fees and reimbursements are reasonable and partially offset travel expenses incurred by those directors living outside the Marietta, Ohio area, where Board of Directors and Board committee meetings are typically held.
In 2021, Peoples completed two strategic acquisitions which substantially increased its total asset size. As a result, Peoples reviewed its Peer Group and made changes to reflect Peoples' larger asset size. In recognition of those changes, the Board reviewed its compensation program relative to the updated Peer Group and made some changes to simplify the program, while still maintaining a strong link to shareholder interests. Beginning January 1, 2022, the Board eliminated the separate annual retainers for service as a director of Peoples and of Peoples Bank and replaced them with a single annual retainer in the amount of $92,500 paid in quarterly installments. Each installment of the annual retainer will be paid 50% in cash and 50% in the form of the number of unrestricted common shares with an equivalent fair market value at the time of payment. The additional annual retainer paid to each of the Chairs of the Compensation Committee, the Governance and Nominating, and the Risk Committee was increased to $7,500, and the additional retainer paid to the Chair of the Audit Committee was increased to $12,500. These additional annual retainers will be paid in quarterly installments and will paid 100% in cash. The Board also eliminated the additional retainer of $15,000 that had been paid in the first quarter of 2021 to each director. There was no change to the additional retainer paid to the Chairman of the Board.
Mr. Sulerzyski received no compensation as a director of Peoples or Peoples Bank during 2021 and will receive none in those capacities in 2022.Exhibit 4.5

 

DESCRIPTION OF SECURITIES

 

REGISTERED PURSUANT TO SECTION 12 OF THE

 

SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

As of December 31, 2021, Kandi
Technologies Group, Inc. (the “Company,” “we,” “us,” and “our” or “Kandi”)
had one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
which is our common stock, par value $0.001 per share (the “common stock”).

 

We are incorporated in the
State of Delaware. The rights of our shareholders are generally covered by Delaware law and our certificate of incorporation and by-laws.
The terms of our common stock are therefore subject to Delaware law, including the Delaware General Corporation Law. The following is
a summary of the material terms of our common stock. This summary does not purport to be exhaustive and is qualified in its entirety by
reference to our certificate of incorporation, bylaws, to the applicable provisions of Delaware law, and to Securities Purchase Agreement,
the Second RD Purchase Agreement, the Warrants and the Second RD Warrants, the Placement Agent Warrants and the Second RD Placement Agent
Warrants, each is defined below.

 

As of March 10, 2022, there
were 77,395,130 shares of our common stock issued and 76,256,345shares of our common stock outstanding, held by approximately 37 shareholders
of record.

 

Our common stock is currently
traded on the NASDAQ Global Select Market under the symbol “KNDI.”

 

Authorized Shares of Common Stock.
We currently have authorized 100,000,000 shares of common stock.

 

Voting. The holders of our common
stock are entitled to one vote for each share held of record on all matters submitted to a vote of the shareholders, including the election
of directors, and do not have cumulative voting rights. Accordingly, the holders of a majority of the shares of our common stock entitled
to vote in any election of directors can elect all of the directors standing for election.

 

Dividends. Subject to preferences
that may be applicable to any then outstanding preferred stock, the holders of common stock are entitled to receive dividends, if any,
as may be declared from time to time by our board of directors out of legally available funds.

 

Liquidation. In the event of
our liquidation, dissolution or winding up, holders of our common stock will be entitled to share ratably in the net assets legally available
for distribution to shareholders after the payment of all of our debts and other liabilities, subject to the satisfaction of any liquidation
preference granted to the holders of any then outstanding shares of preferred stock.

 

Rights and Preferences. The holders
of our common stock have no preemptive, conversion or subscription rights, and there are no redemption or sinking fund provisions applicable
to our common stock. The rights, preferences and privileges of the holders of our common stock are subject to, and may be adversely affected
by, the rights of the holders of shares of any series of our preferred stock that we may designate and issue in the future.

 

Fully Paid and Nonassessable.
All of our issued and outstanding shares of common stock are fully paid and nonassessable.

 

Equiniti Trust Company (f/k/a
Corporate Stock Transfer), 3200 Cherry Creek Drive South, Suite 4301, Denver, Colorado 80209, is the registrar and transfer agent of our
common stock.

 

     

     

    

 

Delaware Anti-Takeover Provisions

 

We are subject to Section
203 of the Delaware General Corporation Law, which prohibits a publicly-held Delaware corporation from engaging in a “business combination,”
except under certain circumstances, with an “interested shareholder” for a period of three years following the date such person
became an “interested shareholder” unless:

 

	 	●	
    before such person became an interested
    shareholder, the board of directors of the corporation approved either the business combination or the transaction that resulted in
    the interested shareholder becoming an interested shareholder;

 

	 	●	
    upon the consummation of the transaction
    that resulted in the interested shareholder becoming an interested shareholder, the interested shareholder owned at least 85% of the
    voting stock of the corporation outstanding at the time the transaction commenced, excluding shares held by directors who also are
    officers of the corporation and shares held by employee stock plans; or

 

	 	●	
    at or following the time such person became
    an interested shareholder, the business combination is approved by the board of directors of the corporation authorized at a meeting
    of shareholders by the affirmative vote of the holders of two-thirds (2/3) of the outstanding voting stock of the corporation which
    is not owned by the interested shareholder.

 

For
purposes of Section 203, the term “interested shareholder” generally is defined as a person who, together with affiliates
and associates, owns, or, within the three years prior to the determination of interested shareholder status, owned, 15% or more of a
corporation’s outstanding voting stock. The term “business combination” includes mergers, asset or stock sales and other
similar transactions resulting in a financial benefit to an interested shareholder.   Section
203 makes it more difficult for an “interested shareholder” to effect various business combinations with a corporation for
a three-year period. The existence of this provision would be expected to have an anti-takeover effect with respect to transactions not
approved in advance by our board of directors, including discouraging attempts that might result in a premium over the market price for
the shares of common stock held by shareholders. Presently, we have not opted out of this provision.

 

Common Stock underlying the Warrants

 

On November 12, 2020, Kandi entered into a Securities
Purchase Agreement (the “Purchase Agreement”) with certain purchasers (the “Buyers”) pursuant to which the Company
sold to the Buyers, in a registered direct offering, an aggregate of 9,404,392 units (the “Units”), each consisting of one
share (the “Shares”) of our common stock, and 0.4 warrant to purchase a share of our common stock (the “Warrants”),
at a purchase price of $6.38 per share, for aggregate gross proceeds to the Company of $60,000,021, before deducting fees to
the placement agent and other estimated offering expenses payable, approximately $3.1 million, by the Company. At the closing, the Company
issued Units consisting of an aggregate of 9,404,392 shares of our common stock and Warrants initially exercisable into an aggregate of
up to 3,761,757 shares of our common stock. The Warrants have a term of 30 months and are exercisable by the holders at any time after
six months of the date of issuance at an exercise price of $8.18 per share. The exercise price of
the Warrants is subject to adjustment in the event that the Company issues or is deemed to issue shares of our common stock for less than
the applicable exercise price of the Warrants. 

 

The Company
issued to FT Global Capital, Inc. (the “Placement Agent”) warrants to purchase an aggregate of up to six percent (6%) of the
aggregate number of shares of our common stock sold in the offering, or 564,264 shares of the common stock (the “Placement Agent
Warrants”). The Placement Agent Warrants shall generally be on the same terms and conditions as the Warrants, exercisable at a price
of $8.18 per share, provided that Placement Agent Warrants will not provide for certain anti-dilution protections included in the Warrants.

 

On November 24, 2020, Kandi entered into a Securities
Purchase Agreement (the “Second RD Purchase Agreement”), with certain purchasers (the “Second RD Buyers”) pursuant
to which the Company sold to the Second RD Buyers, in a registered direct offering, an aggregate of 8,849,560 units (the “Second
RD Units”), each consisting of one share (the “Second RD Shares”) of our common stock, and a warrant to purchase 0.4
share of our common stock (the “Second RD Warrants”), at a purchase price of $11.30 per share, for aggregate gross proceeds
to the Company of $100,000,028, before deducting fees to the placement agent and other estimated offering expenses payable, approximately
$5.0 million, by the Company. At the closing, the Company issued Second RD Units consisting of an aggregate of 8,849,560 shares of our
common stock and Second RD Warrants initially exercisable into an aggregate of up to 3,539,825 shares of our common stock. The Warrants
have a term of 30 months and are exercisable by the holders at any time after the date of issuance at an exercise price of $14.50 per
share. The exercise price of the Second RD Warrants is subject to adjustment in the event that the
Company issues or is deemed to issue shares of our common stock for less $10.08, or the average closing price of the five trading days
prior to the date of the Second RD Purchase Agreement (the “Minimum Price”). 

 

The Company
issued to the Placement Agent warrants to purchase an aggregate of up to three percent (3%) of the aggregate number of shares of our common
stock sold in the offering, or 265,487 shares of the common stock (the “Second RD Placement Agent Warrants”). The Second RD
Placement Agent Warrants shall generally be on the same terms and conditions as the Second RD Warrants, exercisable at a price of $14.50
per share, provided that the Second RD Placement Agent Warrants will not provide for certain anti-dilution protections included in the
Second RD Warrants.

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