Document:

Exhibit 10.1

  

合资公司协议

Joint Venture Agreement

 

甲方:海南赛维投资管理有限公司

Party A: Hainan
Savy Investment Management Ltd.

 

乙方:Akers
Biosciences, Inc.

Party B: Akers
Biosciences, Inc.

 

丙方:Thomas
Knox

Party C: Thomas
Knox

 

本协议由甲乙丙三方于
2014 年_10_月_24_日在中国海口市签订。甲方为根据中华人民共和国法律合法成立的中国公司,乙方为根据美国法律合法成立的美国公司,丙方为具有完全民事行为能力的自然人。基于平等互利的合作原则,各方同意在中国海口市成立合资企业海南赛维埃克斯生物科技有限公司,以研发、生产和销售乙方的相关产品。为此,特立约如下:

This
Agreement (the “agreement”) is executed on October 24th 2014 by and among Party A ,Party
B and Party C in Haikou City, China. Party A is a corporation duly organized and validly existing under the laws of People’s
Republic of China. Party B is a corporation duly organized and validly existing under the laws of the United States. Party C is
a natural person with full capacity for civil conduct. On the bases of equality and mutual benefit, the parties agree to set up
a Joint Venture named Hainan Savy-Akers Biosciences, Inc. in Haikou City, China, in purpose of researching, developing, producing
and selling relative products of Party B.

THEREFORE,
Party A, Party B and party C agree as follows:

   

  第一条 定义

  Article 1         Definitions

  在本协议中,除非文中另有明确规定,下列短语具有以下意思:

  1.“合资公司”,系指根据本协议建立的公司。

  2.“产品或许可产品”,系指快速诊断和筛查产品。

  In this Agreement, the following terms have the
following meanings unless the context clearly dictates otherwise.

  1.“Joint Venture” means the corporation
to be organized pursuant to the provisions of Article 2 hereto.

  2.“Products or Licensed Product” means
rapid diagnostic screening and testing products.

  第二条 建立合资公司

  Article 2         Formation of Joint Venture

  1.甲方、乙方、丙方按照中华人民共和国的法律建立合资公司。

 

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  2.合资公司称为海南赛维埃克斯生物科技有限公司,地址为________。

  3.合资公司的一切活动,必须遵守中华人民共和国的法律.法令和有关条例规定。

  4.合资公司的组织形式为有限责任公司。合资各方以各自认缴的出资额对合资公司的债务承担责任。各方按其出资额在注册资本中的比例分享利润和分担风险及亏损。

  5.合资公司的组建费用(指生产场地租赁、厂房装修、设施设备购置以及办公基本配置等)由合资公司承担。

  1. Party A, Party B and Party C shall spare no
efforts for the organization of Joint Venture under the laws of the People's Republic of China.

  2. The name of Joint Venture is
Hainan Savy-Akers Biosciences Ltd. with its legal address:_______.

  3. All activities of Joint Venture shall comply
with the provisions of the laws, decrees and pertinent regulations of the People's Republic of China.

  4. Joint Venture shall take the form of a limited
liability company. The profits, risks and losses of Joint Venture shall be shared by Party A , Party B and Party C in proportion
to the contributions to the registered capital.

  5. The expenses of organizing Joint Venture shall
be equally undertaken by Party A, Party B and Party C.

  第三条 生产经营的目的、范围和规模

  Article 3         Purpose, Scope and Size of
Business

  1. 各方合资经营的目的是:本着加强经济合作和扩大技术交流的愿望,有效发挥技术和管理优势,开发新产品,提高产品质量,提高市场竞争能力,创造良好的经济效益。

2.
合资公司生产和销售快速诊断和筛查产品。合资公司将努力改进产品,提高管理水平,拓展产品市场,扩大生产规模,满足中国市场需求。

3.
合资公司努力研发新的许可产品,优化产品结构,在中国形成产品优势,满足中国和国际市场的发展需要。

1.
In line with the aspiration of enhancing economic cooperation and expanding technical exchange, the purpose of Joint Venture is
to use state-of-the-art and appropriate technology and equipment with efficient management systems, to develop new product, improve
product quality and market competitiveness, creating good economic benefits.

  2. Joint Venture is to produce and sell rapid diagnostic
screening and testing products. Joint Venture shall do its best to improve Product and management, expanding market and production,
to meet the Chinese market demand.

  3. Joint Venture shall make every effort to develop
new varieties of Licensed Product, optimize product structure, and form product superiority in China, in order to meet
market development demand both in China and the world.

 

第四条
资本结构

  Article 4         Capital Structure

  1. 合资公司的注册资本为人民币5000万,其中甲方出资56%,乙方出资19.9%,丙方出资24.1%。

  2. 合资各方首期缴付出资额为200万元人民币,按股份比例出资:

(1)甲方出资

      
现金:人民币 112 万元;

 

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(2) 乙方出资

     现金:人民币39.8万元;(以等值外币出资,按缴款当日中国人民银行公布的基准汇率折算)

    
(3) 丙方出资
      现金:人民币48.2万元;(以等值外币出资,按缴款当日中国人民银行公布的基准汇率折算)
    3. 合资公司各方应在2014年11月25日前交付其出资。如延迟交付出资应交纳利息或赔偿因此而造成的损失。
    4. 合资各方中任何一方转让其出资额,须经另外两方同意和中国政府批准,另外两方享有优先购买权。
    1.
The registered capital of Joint Venture shall be RMB 50 million. Party A shall contribute 56% of the registered
capital, Party B shall contribute 19.9% and Party C shall contribute 24.1%.
    2.
The initial contribution of the registration capital is totally RMB 2 million. Party A, Party B and Party C shall
contribute the capital according to the investment proportion.
   A)    Party
A's contributions include
   
     Cash: RMB 1.12 million;

     B)
   Party A's contributions include

        Cash: RMB 0.398 million;(Contributed
in equivalent of foreign currency, with the benchmark exchange rate published by the People's Bank of China on the date of such
conversion.)

     C)
   Party C's contributions include

        Cash: RMB 0.482 million;(Contributed
in equivalent of foreign currency, with the benchmark exchange rate published by the People's Bank of China on the date of such
conversion.)

  3. Each Party of Joint Venture shall pay in its
contributions before November 25th, 2014. Any delay in payment will be subject to a payment of interest or a compensation
for the loss occurred therein.

  4. The transfer of one Party's share in the registered
capital shall be effective with the prior consent of the other Parties and approval of Chinese government and the latter shall
enjoy priority to purchase it.

 

第五条
合资各方在合作中的具体责任

Article
5         Responsibility and obligation of each party

		1.	甲方责任:

(1)办理申请设立合资公司、登记注册等事宜;

(2)办理申请土地使用权或租用厂房及建筑设施的手续;

(3)协助合资公司厂房和其他工程设施的设计施工;

(4)按第四章规定认缴出资;

(5)协助办理合资公司生产设备的进口报关手续;

(6)协助合资公司在国内外购置或租赁设备、材料、办公用具、交通工具、通讯设施等;

(7)协助合资公司落实水、电、交通等生产经营条件;

(8)协助合资公司招聘经营管理人员、技术人员、工人和所需的其他人员;

 

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(9)协助合资公司办理有关暂住证、入境签证、工作许可证等手续;

(10)协助合资公司在中国的食品药品监督管理部门注册申报产品事宜;

(11)负责办理合资公司委托的其他事宜。

1.
Responsibility and obligation of Party A:

A)
Pay in contribution according to the provision of Article 4;

A)
Incorporation of Joint Venture in China;

B)
Handling with land use permission or renting factory or building facilities;

C)
Assist with Joint Venture in design and construction of factory or other project;

D)
Pay in contribution according to the provision of Article 4;

E)
Assist with Joint Venture in the import entry of production equipments;

F)
Assist with Joint Venture in the purchasing or renting equipments, materials, office appliance, transportation vehicle,
communication facilities;

G)
Assist with Joint Venture in making condition for production and operation, such as water, electricity, transportation etc.;

H)
Assist with Joint Venture in recruiting management staff, technicians, workers and other staff required;

I)
Assist with Joint Venture in applying the related residence permit, visa, work permit etc;

J)
Assist with Joint Venture in applying and registration of product in State Food and Drug Administration (SFDA) in China;

K)
Other matters entrusted by Joint Venture

2.
乙方责任:

(1)按第四章规定认缴出资;

(2)协助合资公司在国际市场选购机械设备、材料等;

(3)协助合资公司设备安装、调试以及提供试生产所需的技术人员;

(4)协助合资公司培训合资公司的技术人员和工人;

(5)负责提供在中国注册产品要求的相关技术资料(美国FDA产品注册申报资料,如配方、工艺等),并提供相关产品申报注册的技术支持,确保在中国本地化生产的实现。

(6)协助合资公司研发新产品,并及时为合资公司提供本公司新产品技术资料和对口支持,加快本公司产品在中国本地化生产。

(7)
在乙方选择产品或原材料供应商时,在同等条件下应优先选择但不保证合资企业作为其相关产品或原材料的供应商。

2.
Responsibility and obligation of Party B:

A)
Pay in contribution according to the provision of Article 4;

B)
Assist with Joint Venture in purchasing equipments and materials in international market;

C)
Assist with Joint Venture in equipment installment and debugging, and provide technicians required for the trial production;

D)
Assist with Joint Venture in training technicians and workers;

E)
Provide the requested technical information (product application and registration information in American FDA, eg. formula, technology
etc ) for the application and registration of products in SFDA in China.

F)
Assist with Joint Venture in developing new products, providing technology support and accelerating the process of local production
in China.

G)
Party B shall give preference, but does not guarantee, to Joint Venture, provided that Joint Venture provides best pricing, as
supplier for raw materials, components, and relative products when searching suppliers.

 

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3.
丙方责任:

(1)按第四章规定认缴出资;

(2)协助合资公司拓展国际市场;

3.
Responsibility and obligation of Party C:

A)
Pay in contribution according to the provision of Article 4;

B)
Assist with Joint Venture in marketing products in international markets;

 

  第六条
专利许可

  Article 6         Patent Licensing Arrangement

  1. 乙方同意合资公司可以无偿使用下列独家许可:

(1)专利独占许可——在中国用乙方专利生产、使用和销售许可产品。

(2)商标独占许可——在中国用乙方商标销售许可产品。

(3)专有技术独占许可——在中国用乙方专有技术生产和销售专利产品。

(4)
经乙方同意,合资公司可在任何国家使用乙方专利和商标进行产品销售。

(5)
乙方专利列明于附件A。

(6)
甲方和乙方将全力合作在亚洲地区为合资公司申请专利。合资公司申请的所有新专利的所有权归合资公司所有。

  1. Party B agrees to grant Joint Venture the following
exclusive licenses:

  A) An exclusive license in China to manufacture,
use and sell Licensed Product under Party B's Patents.

  B) An exclusive license in China to use Trademark
in marketing Licensed Product.

  C) An exclusive license in China to practice Party
B's know-how for manufacturing and marketing Licensed Product.

D)
An exclusive license in any agreed countries to sell licensed products under Party B’s patents and to use trademark in marketing
licensed products.

E
) Party B’s patents for license under this agreement are listed in schedule A.

F)
Party A and Party B shall collaborate to file patents for the Joint Venture in Asia. All new patents filed by the Joint Venture
shall be owned by the Joint Venture.

2.为提高合资公司的技术竞争力以配合中国市场开拓需要,乙方同意在未来5年内无偿向合资公司授予或转让技术专利(限中国),协助合资公司逐步拥有国家发明专利和实用新型专利。

2.
To enhance the technological competitiveness of Joint Venture for Chinese market development purpose, Party B acknowledge to grant
and transfer Know-how and patent to Joint Venture (China only) for free in next 5 years and assist Joint Venture to gradually obtain
national patents for invention and utility model patents.

  第七条 产品销售

  Article 7         Marketing Arrangements

  1. 甲方协助合资公司在中国市场销售许可产品,乙方和丙方协助合资公司在中国之外市场销售许可产品。

  2. 合资公司所需购买的原材料、半成品、燃料和配套件等,在条件相同的情况下,应首先在中国购买。当然,也可使用自己的外汇直接从世界市场购进。

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  1.
Party A shall assist Joint Venture in the sales of products in Chinese market; Party B and Party C shall assist Joint Venture in
the sales of products in overseas market.

2.
In purchase of the required raw materials and semi-processed products, fuels, auxiliary equipment etc., Joint Venture shall give
first priority to Chinese sources where conditions are the same, but may also purchase them directly from the international market
with its own foreign exchange funds.

  第八条 董事会

  Article 8         Board of Directors

  1. 董事会是合资公司的最高领导机构,负责合资公司的主要事宜。

  2. 董事会由5名董事组成,甲方占3名,乙方和丙方各占1名,首届董事会成员如下:马俊宁、文小凡、马海燕、Thomas
Knox、 Raymond Akers。其中董事长由甲方指定,副董事长由丙方指定。董事的任期为3年,任期届满可以延长。

  3. 董事会每年召开两次,原则上在合资公司的法定地址举行。出席会议的法定人数不得少于董事人数的2/3。若董事不能出席会议,应授权代表出席会议,代表他投票。

若在任期内,因死亡.退休或因其他原因,董事在任期届满前不能履行职责者,双方同意充分合作,并由因其指定的董事死亡.退休或其他原因造成空位的一方给予更换。

  4. 对于下列问题,必须经出席会议的董事一致通过,方可作出决定:
  

  (1)修改合资公司章程;

  (2)终止和解散合资公司;

  (3)增加或转让合资公司的注册资本;

  (4)合资公司与其他经济组织合并;

(5)
转让持有的合资公司权益给第三方;

(6)
研发费用超过人民币65000元的新产品开发。

  其他问题的决定,以出席会议董事人数的微弱多数票作出。

  1. The Board of Directors is the top leadership
of Joint Venture. It is responsible for all major issues concerning Joint Venture.

  2. The Board of Directors shall be consisted of
5 directors, of whom 3 including the chairman shall be appointed by party A, one shall be appointed by Party B and the deputy chairman
shall be appointed by Party C. The first term of board members shall be consisted by Marco Ma, Wendy Wen, Hellen Ma, Thomas Knox,
and Raymond Akers. The office term for the directors is 3 years, which may be renewed in the expiration of office terms.

  3. Board meetings shall generally be held at the
location of Joint Venture's legal address, twice each year. A quorum for a meeting shall consist of not fewer than two thirds (2/3)
of the directors. Should any director be unable to attend the meeting, he shall authorize a representative to be present at the
meeting and vote for him.

In case a director dies, resigns, or is otherwise unable to fulfill his duties prior to the fulfillment of his term, the Parties
agree to cooperate fully to have as his replacement a director nominated by the Party, or his/her nominee, that nominated the director
whose death, resignation or other conditions created the vacancy.

  4. Decisions on the following items shall be made
only when unanimously agreed upon by the directors present at the Board meeting.

  (1) Amendment to the articles of incorporation
of Joint Venture.

 

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  (2)
Termination and dissolution of Joint Venture.

  (3) Increase or assignment of the registered capital
of Joint Venture.

  (4) Merger of Joint Venture with another economic
organization.

(5)
Issuance of ownership interest in Joint Venture to third parties.

(6)
New product development whose research expenses exceed RMB 65000 .

  Decisions on other items shall be made by a simple
majority vote of the directors present at the meeting.

  第九条 管理

  Article 9         Management

  1. 合资公司设经营管理机构,负责企业的日常经营管理工作。

  2. 经营管理机构设总经理1人,副总经理3人。总经理由董事会聘请,负责执行董事会的决议和日常管理工作。副总经理协助总经理工作。

3.
管理机构设若干部门,在总经理的领导下,负责相应的部门工作。

  1. Joint Venture shall establish a management office
which shall be responsible for daily management of Joint Venture.

  2. The management office shall have a general manager
and three deputy general managers. The general manager shall be hired by the board and is responsible for the implementation of
the decisions of the Board and daily operation. The deputy managers shall assist the general manager in his duties.

  3. The management office may have its subdivisions,
the duties of which are to manage different business departments under the leadership of the general manager.

  第十条 劳动管理

  Article 10       Labor management

  1. 合资公司的中方专家.技术人员、工人和其他人员由甲方招聘;合资公司的外方专家由乙方招聘。

  2. 合资公司的专家.职员或工人的雇用、辞退、工资、劳动保险、生活福利和奖惩等项,由董事会按照《中华人民共和国中外合资经营企业法实施条例》决定。

  1. Party A agrees to help Joint Venture to invite
and recruit Chinese experts, technicians, workers and other personnel and Party B agrees to help Joint Venture to invite and recruit
foreign experts.

  2. The employment and dismissal, wages, insurance,
welfare, bonuses, and fines of its experts, staff members and workers shall be decided by the Board of Directors according to “Regulations
for the Implementation of the Law of the People's Republic of China on Chinese Foreign Joint Venture”.

  条十一条 财务与会计

  Article 11       Financial Affairs and Accounting

  1. 协议各方充分认识到,基于合资各方和合资公司的最大利益,必须尽一切可能扩大企业规模。因此,对合资公司每一年的利润,董事会同意留存足够的公积金用于扩大再生产,其余部分用于公益金、股东分红、员工奖励等。

  2. 合资公司雇用合格的财务人员和审计员,设立会计帐目,合资各方可随时查看有关帐目。合资公司应在每个季度结束后的30天内向本协议下的合资方提供季度财务报表。

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  3.
合资公司的财政年度自1月1日至12月31日。合资公司的净收入,在扣除储备金.奖金和企业发展奖金以后,根据各方出资在注册资本中占的比例进行分配。红利以人民币支付。

  1.
The parties hereto acknowledge that, in the best interests of all parties and Joint Venture, all parties shall take all measures
to increase enterprise scale. Therefore, the Board of Directors agree to retain sufficient public reserved funds from annual earnings
of Joint Venture annually for use of expanding production, while the rest shall be used as public welfare fund, profit distribution
to shareholders and employee incentives etc. The annual proportion of the earnings to be retained and dividend distribution shall
be determined by the Board of Directors and shall be based on the pro rata ownership interest of the shareholders.

  2. Joint Venture shall employ competent treasurers
and auditors to keep all books of accounts, which are accessible at any time to each Party hereto, the Joint Venture shall provide
quarterly financial statements within 30 days from the end of each quarter.

  3. The fiscal year of Joint Venture shall begin
on January 1st and end on December 31st. The net profit of Joint Venture shall be distributed between the Parties to Joint Venture
in proportion to their respective ownership in the registered capital after the deduction therefrom of the reserve funds, the bonus
and the expansion funds of Joint Venture. Dividends shall be paid in RMB currency.

  

第十二条
税费

  Article 12       Tax

  1. 合资公司应按照中华人民共和国的法律纳税。

  2. 合资公司的职员和工人必须按照《中华人民共和国个人所得税》纳税。

  3. 合资公司进出口货物根据中华人民共和国的法律缴纳或减免关税。

  1. Joint Venture shall pay taxes in accordance
with the relevant laws of the People's Republic of China.

  2. The staff members and workers employed by Joint
Venture shall pay individual income tax according to the Individual Income Tax Law of the People's Republic of China.

  3. Joint Venture shall pay or exempt from customs
duty and industrial and commercial consolidated tax on goods imported or exported in accordance with the relevant laws of the People's
Republic of China.

  第十三条 合资期限

  Article 13       Duration of Joint Venture

  1. 合资期限应由董事会全体成员一致表决决定。合资公司的成立日期为合资公司营业执照签发之日。

  1. The duration of Joint Venture shall be determined
by unanimous vote of the Board of Directors, which begins on the date when Joint Venture is issued the business license.

  第十四条 解散与清算

  Article 14       Dissolution and Liquidation

  董事会宣布解散合资公司,必须制定清算程序和原则,并成立清算委会。

  合资公司解散和清算的一切事宜均按中华人民共和国法律办理。

  Upon announcement of the dissolution of Joint Venture,
its Board of Directors shall work out procedures and principles for the liquidation and set up a liquidation committee.

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  All
matters concerning the dissolution and liquidation of Joint Venture shall be dealt with in accordance with the relevant laws of
the People's Republic of China.

  

 

第十五条
仲裁

  Article 15       Arbitration

  有关本协议的一切分歧与争议,若董事会不能通过协商解决,则提交中国国际经济贸易仲裁委员会进行仲裁。该委员会的裁决是终局的,对双方均具有约束力。

  All disputes, controversies or differences which
may arise between the Parties hereto, out of or in relation to this Agreement and which the Board of Directors fails to settle
it through consultation, shall finally be submitted to arbitration which shall be conducted by the China International Economic
and Trade Arbitration Commission, the decision of which shall be final and binding upon both parties.

 

  

第十六条
协议的修改

  Article 16       Amendment

  本协议的修改,必须经甲乙双同意,签署书面协议,并报中华人民共和国主管部门批准。

  This Agreement may be amended during the duration
of this Agreement by the Parties, provided that such amendment shall be in writing and signed by all Parties and shall be approved
by the competent agency of the government of the People's Republic of China.

  

 

第十七条
不可抗力

  Article 17       Force Majeure

  1. 本协议任何一方因地震、火灾、洪、爆炸、风暴、事故和战争等不可抗力事件,未能履行协议,不构成违约或索赔之缘由。

  2. 遭受不可抗力事件一方必须立即书面通知另一方,并在书面通知后10天内提交当地主管部门出具的证明文件,供各方据以友好合理地解决有关问题。

  1. Any failure or delay in the performance by either
Party hereto of its obligations under this Agreement shall not constitute a breach hereof or give rise to any claims for damages
if it is caused by the following occurrences beyond the control of the Parties: earthquake, fire, floods, explosions, storms, accidents,
war.

  2. The Party affected by force majeure event shall
immediately notify the other Party about the event in written form, and submit within 10 days after the written notice the certified
documents issued by a public competent organization at the place where the force majeure event has taken place, with which all
the Parties hereto shall settle the problem in a friendly and reasonable way.

  

 

第十八条
通知

  Article 18       Notice

  一切有关本协议的通知必须采用书面形式,其地址如下:

  甲方地址:中国海南省海口市海甸岛文景东路踏浪小区

乙方地址:美国新泽西州萨勒费尔,格鲁夫路201号
邮编:08086:

  丙方地址:美国宾夕法尼亚州2710号十六大道南50号
邮编:19102

  通知日期以通知发出日为准,但改变地址的通知以通知收到日为准。时间按通知方所在的时区计算。

 

    	9

    	 

    

 

 

  Any
notice required or permitted under the provisions of this Agreement shall be in writing and addressed as follows:

  Party A: Talang Garden, East Wenjing Road, Haidian
Island, Haikou City, China .

  Party B: 201 Grove Road, Thorofare, N.J. 08086
USA

  Party C: 50 South 16th Street, Suite 2710 Philadelphia,
PA 19102

  Notice shall be deemed to have been given on the
date of mailing except the notice of change of address which shall be deemed to have been given when received.

        The time shall be calculated according to that of the time zone of the addresser or sender.

  

 

第十九条
唯一协议

  Article 19       Sole Agreement

  本协议是当事人的唯一协议,并取代当事人各方以前明确表示和暗示方式所达成的一切协议和承诺。

  This Agreement constitutes the entire and only
Agreement between the Parties hereto and supersedes and nullifies all prior agreements, commitments, expressed or implied, among
the Parties hereto.

  第二十条 适用法律

  Article 20       Governing Law

  本协议的形式、有效期、解释和履行,均以中华人民共和国法律为准。

  The formation, validation, interpretation and performance
of this Agreement are governed by the laws of the People's Republic of China.

  第二十一条
文字

  Article 21       Language

  本协议以中英文书写,两种文本对双方均具有约束力,但在产生分歧时,以中文本为准。

  兹证明,各方委派各自代表,
在以下开首语中书明的日期签署盖章。本协议一式七份,协议双方各执两份,其余供合资公司办理有关手续用,各份具有同等法律效力。

This
Agreement shall be executed by the Parties hereto in both Chinese version and English version, each of which shall be binding upon
all Parties. But the Chinese version shall prevail in the event of any discrepancy between the two said versions.

  This agreement shall be executive in seven copies
with each party holding two copies and the rest copy is for handling relative formalities by Joint Venture. Each copy has the same
legal effect.

 

(以下无正文,接签字页)

【Followed
by signature page】

 

    	10

    	 

    

 

 

【签字页/Signature
page】

 

	甲方签章:	 
	 	 
	By:	 	 	 
	 	 
	Party A:Hainan Savy-Akers Biosciences Ltd.
	 	 
	乙方签章:	 
	 	 
	By:	 	 	 
	 	 
	Party B:Akers Biosciences, Inc.	 
	 	 
	丙方签章:	 
	 	 
	By:	 	 	 
	 	 
	Party C:Thomas Knox	 
	 	 
	2014年 10 月 24 日	 
	 	 
	Date:October 24, 2014	 

 

    	11Exhibit 4.5

 

RIGHTS AGREEMENT

 

This Rights Agreement (this “Agreement”)
is made as of October 24, 2014 between Hydra Industries Acquisition Corp., a Delaware corporation, with offices at 3 Columbus Circle,
16th Floor, New York, New York 10019 (the “Company”), and Continental Stock Transfer & Trust Company,
a New York corporation, with offices at 17 Battery Place, New York, New York 10004 (“Rights Agent”).

 

WHEREAS, the Company is engaged in an initial
public offering (the “Offering”) of units of the Company’s equity securities (each, a “Unit” and
collectively, the “Units”) to UBS Securities LLC, as representative of the several underwriters (the “Underwriters”),
each such Unit comprised of one share of common stock of the Company, par value $.0001 per share (“Common Stock”),
one right to receive one-tenth of one share of Common Stock (each, a “Public Right” and collectively, the “Public
Rights”) upon the happening of an “Exchange Event” (defined herein), and one warrant to purchase one-half of
one share of Common Stock (collectively, the “Public Warrants”), and in connection therewith, has determined to issue
and deliver up to 9,200,000 Public Rights (including up to 1,200,000 Public Rights subject to the over-allotment option) to public
investors in the Offering; and

 

WHEREAS, the Company has entered into that
certain Contingent Forward Purchase Contract, dated as of October 24, 2014, with MIHI LLC (“MIHI”), pursuant to which
the Company will issue and deliver to MIHI up to an aggregate of 2,000,000 Units, including 2,000,000 warrants (the “Private
Warrants” and together with the Public Warrants, the “Warrants”) and 2,000,000 rights underlying such Units (the
“Private Rights” and together with the Public Rights, the “Rights”), such purchase to occur simultaneously
with the Company’s initial Business Combination (as defined in the Company’s Amended and Restated Certificate of Incorporation);
and

 

WHEREAS, the Company has filed with the
Securities and Exchange Commission a registration statement on Form S-1, File No. 333—198236, and the prospectus forming
a part thereof (the “Prospectus”), for the registration under the Securities Act of 1933, as amended, of the Units
and each of the securities comprising the Units, and the shares of Common Stock underlying the Public Rights; and

 

    	 

    	 

    

 

WHEREAS, the Company desires the Rights
Agent to act on behalf of the Company, and the Rights Agent is willing to so act, in connection with the issuance, registration,
transfer and exchange of the Rights; and

 

WHEREAS, the Company desires to provide
for the form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights, limitation of
rights, and immunities of the Company, the Rights Agent, and the holders of the Rights; and

 

WHEREAS, all acts and things have been done
and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on behalf
of the Rights Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution
and delivery of this Agreement.

 

NOW, THEREFORE, in consideration of the
mutual agreements herein contained, the parties hereto agree as follows:

 

1.Appointment of Rights Agent. The Company hereby
appoints the Rights Agent to act as agent for the Company for the Rights, and the Rights Agent hereby accepts such appointment
and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2.Rights.

 

2.1.Form of Right. Each Right shall be issued
in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein
and shall be signed by, or bear the facsimile signature of, the President and Secretary of the Company and shall bear a facsimile
of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Right shall have ceased
to serve in the capacity in which such person signed the Right before such Right is issued, it may be issued with the same effect
as if he or she had not ceased to be such at the date of issuance.

 

2.2.Effect of Countersignature. Unless and until
countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid and of no effect and may not be exchanged
for shares of Common Stock.

 

    	 

    	 

    

 

2.3.Registration.

 

2.3.1.Right Register. The Rights Agent shall
maintain books (“Right Register”) for the registration of original issuance and the registration of transfer of the
Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register the Rights in the names of the respective
holders thereof in such denominations and otherwise in accordance with instructions delivered to the Rights Agent by the Company.

 

2.3.2.Registered Holder. Prior to due presentment
for registration of transfer of any Right, the Company and the Rights Agent may deem and treat the person in whose name such Right
shall be registered upon the Right Register (“registered holder”) as the absolute owner of such Right and of each Right
represented thereby (notwithstanding any notation of ownership or other writing on the Right Certificate made by anyone other than
the Company or the Rights Agent), for the purpose of the exchange thereof, and for all other purposes, and neither the Company
nor the Rights Agent shall be affected by any notice to the contrary.

 

2.4.Detachability of Rights. The securities comprising
the Units, including the Rights, will not be separately transferable until ten business days following the earlier to occur of:
(i) the 52nd day following the date of the Prospectus or (ii) the announcement by UBS Securities LLC of its intention
to allow separate earlier trading, except that in no event will the securities comprising the Units be separately tradeable until
the Company files a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of
the gross proceeds of the Offering including the proceeds received by the Company from the exercise of the over-allotment option,
if the over-allotment option is exercised by the date thereof and the Company issues a press release and files a Current Report
on Form 8-K announcing when such separate trading shall begin.

 

3.Terms and Exchange of Rights

 

3.1.Rights. Each Right shall entitle the holder
thereof to receive one-tenth of one share of Common Stock upon the happening of an Exchange Event (defined below). No additional
consideration shall be paid by a holder of Rights in order to receive his, her or its shares of Common Stock upon an Exchange Event
as the purchase price for such shares of Common Stock has been included in the purchase price for the Units. In no event will the
Company be required to net cash settle the Rights.

 

    	 

    	 

    

 

3.2.Exchange Event. An “Exchange Event”
shall occur upon the Company’s consummation of an initial Business Combination (as defined in the Company’s Amended
and Restated Certificate of Incorporation).

 

3.3.Exchange of Rights.

 

3.3.1.Issuance of Certificates. As soon as practicable
upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights to return their Rights Certificates to
the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall issue to the registered holder of such Right(s)
a certificate or certificates for the number of full shares Common Stock to which he, she or it is entitled, registered in such
name or names as may be directed by him, her or it. Notwithstanding the foregoing, or any provision contained in this Agreement
to the contrary, in no event will the Company be required to net cash settle the Rights. The Company shall not issue fractional
shares upon exchange of Rights. At the time of an Exchange Event, the Company will either instruct the Rights Agent to round up
to the nearest whole share of Common Stock or otherwise inform it how fractional shares will be addressed, in accordance with Section
155 of the Delaware General Corporation Law.

 

3.3.2.Valid Issuance. All shares of Common Stock
issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully paid and nonassessable.

 

3.3.3.Date of Issuance. Each person in whose
name any such certificate for shares of Common Stock is issued shall for all purposes be deemed to have become the holder of record
of such shares on the date of the Exchange Event, irrespective of the date of delivery of such certificate.

 

3.3.4Company Not Surviving Following
Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held reporting entity, the definitive
agreement will provide for the holders of Rights to receive the same per share consideration the holders of the shares of Common
Stock will receive in such transaction, for the number of shares such holder is entitled to pursuant to Section 3.3.1 above. Each
holder of a Right will be required to affirmatively convert his, her or its rights in order to receive the 1/10 of a share underlying
each right (without paying any additional consideration) upon consummation of the Exchange Event. Each holder of a Right will be
required to indicate his, her or its election to convert the Rights into the underlying shares as well as to return the original
certificates evidencing the Rights to the Company.

 

    	 

    	 

    

 

3.5Duration of Rights. If an Exchange Event does
not occur within 24 months from the closing of the Offering, the Rights shall expire and shall be worthless.

 

4.Transfer and Exchange of Rights.

 

4.1.Registration of Transfer. The Rights Agent
shall register the transfer, from time to time, of any outstanding Right upon the Right Register, upon surrender of such Right
for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon
any such transfer, a new Right representing an equal aggregate number of Rights shall be issued and the old Right shall be cancelled
by the Rights Agent. The Rights so cancelled shall be delivered by the Rights Agent to the Company from time to time upon request.

 

4.2.Procedure for Surrender of Rights. Rights
may be surrendered to the Rights Agent, together with a written request for exchange or transfer, and thereupon the Rights Agent
shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights so surrendered, representing
an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer bears a restrictive
legend, the Rights Agent shall not cancel such Right and issue new Rights in exchange therefor until the Rights Agent has received
an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Rights must also bear
a restrictive legend.

 

4.3.Fractional Rights. The Rights Agent shall
not be required to effect any registration of transfer or exchange which will result in the issuance of a Right Certificate for
a fraction of a Right.

 

4.4.Service Charges. No service charge shall
be made for any exchange or registration of transfer of Rights.

 

4.5.Right Execution and Countersignature. The
Rights Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Rights required
to be issued pursuant to the provisions of this Section 4, and the Company, whenever required by the Rights Agent, will supply
the Rights Agent with Rights duly executed on behalf of the Company for such purpose.

 

    	 

    	 

    

 

5.Other Provisions Relating to Rights of Holders of Rights.

 

5.1.No Rights as Shareholder. Until exchange
of a Right for shares of Common Stock as provided for herein, a Right does not entitle the registered holder thereof to any of
the rights of a shareholder of the Company, including, without limitation, the right to receive dividends, or other distributions,
exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders
or the election of directors of the Company or any other matter.

 

5.2.Lost, Stolen, Mutilated, or Destroyed Rights.
If any Right is lost, stolen, mutilated, or destroyed, the Company and the Rights Agent may on such terms as to indemnity or otherwise
as they may in their discretion impose (which shall, in the case of a mutilated Right, include the surrender thereof), issue a
new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated, or destroyed. Any such new Right shall
constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed
Right shall be at any time enforceable by anyone.

 

5.3.Reservation of Common Stock. The Company
shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that will be sufficient
to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

6.Concerning the Rights Agent and Other Matters.

 

6.1.Payment of Taxes. The Company will from time
to time promptly pay all taxes and charges that may be imposed upon the Company or the Rights Agent in respect of the issuance
or delivery of shares of Common Stock upon the exchange of Rights, but the Company shall not be obligated to pay any transfer taxes
in respect of the Rights or such shares.

 

6.2.Resignation, Consolidation, or Merger of Rights
Agent.

 

6.2.1.Appointment of Successor Rights Agent.
The Rights Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further duties and
liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Rights Agent becomes
vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Rights Agent in place
of the Rights Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified in
writing of such resignation or incapacity by the Rights Agent or by the holder of the Right (who shall, with such notice, submit
his, her or its Right for inspection by the Company), then the holder of any Right may apply to the Supreme Court of the State
of New York for the County of New York for the appointment of a successor Rights Agent at the Company’s cost. Any successor
Rights Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of
the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York,
and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state
authority. After appointment, any successor Rights Agent shall be vested with all the authority, powers, rights, immunities, duties,
and obligations of its predecessor Rights Agent with like effect as if originally named as Rights Agent hereunder, without any
further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Rights Agent shall execute and
deliver, at the expense of the Company, an instrument transferring to such successor Rights Agent all the authority, powers, and
rights of such predecessor Rights Agent hereunder; and upon request of any successor Rights Agent the Company shall make, execute,
acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor
Rights Agent all such authority, powers, rights, immunities, duties, and obligations.

 

    	 

    	 

    

 

6.2.2.Notice of Successor Rights Agent. In the
event a successor Rights Agent shall be appointed, the Company shall give notice thereof to the predecessor Rights Agent and the
transfer agent for the Common Stock not later than the effective date of any such appointment.

 

6.2.3.Merger or Consolidation of Rights Agent.
Any corporation into which the Rights Agent may be merged or with which it may be consolidated or any corporation resulting from
any merger or consolidation to which the Rights Agent shall be a party shall be the successor Rights Agent under this Agreement
without any further act.

 

6.3.Fees and Expenses of Rights Agent.

 

6.3.1.Remuneration. The Company agrees to pay
the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse the Rights Agent upon
demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2.Further Assurances. The Company agrees
to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further
and other acts, instruments, and assurances as may reasonably be required by the Rights Agent for the carrying out or performing
of the provisions of this Agreement.

 

    	 

    	 

    

 

6.4.Liability of Rights Agent.

 

6.4.1.Reliance on Company Statement. Whenever
in the performance of its duties under this Agreement, the Rights Agent shall deem it necessary or desirable that any fact or matter
be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed
by the Chief Executive Officer, Chief Operating Officer or Chief Financial Officer and delivered to the Rights Agent. The Rights
Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

6.4.2.Indemnity. The Rights Agent shall be liable
hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section 6.6 below, the Company agrees
to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except as a result of the Rights Agent’s
gross negligence, willful misconduct, or bad faith.

 

6.4.3.Exclusions. The Rights Agent shall have
no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Right (except
its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained
in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation or warranty as to the
authorization or reservation of any Common Stock to be issued pursuant to this Agreement or any Right or as to whether any Common
Stock will when issued be valid and fully paid and nonassessable.

 

6.5.Acceptance of Agency. The Rights Agent hereby
accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set forth.

 

    	 

    	 

    

 

6.6Waiver. The Rights Agent hereby waives any
right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of,
the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between
the Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim against the Trust Account for any reason whatsoever.

 

7.Miscellaneous Provisions.

 

7.1.Successors. All the covenants and provisions
of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure to the benefit of their respective
successors and assigns.

 

7.2.Notices. Any notice, statement or demand
authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right to or on the Company shall be
sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within
five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with
the Rights Agent), as follows:

 

Hydra Industries Acquisition Corp.

3 Columbus Circle, 16th
Floor

New York, NY 10019

Attention: Jeffrey S. Lipkin

 

Any notice, statement or demand authorized by this Agreement
to be given or made by the holder of any Right or by the Company to or on the Rights Agent shall be sufficiently given when so
delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit
of such notice, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the Company), as
follows:

 

Continental Stock Transfer & Trust Company

17 Battery Place

New York, New York 10004

Attn: Compliance Department

 

with a copy to:

 

UBS Securities LLC

1285 Avenue of the Americas

New York, New York 10019

Attention: Syndicate / Michael Ryan

 

    	 

    	 

    

 

7.3.Applicable Law. The validity, interpretation,
and performance of this Agreement and of the Rights shall be governed in all respects by the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement
shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any
objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be
served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it at the address set forth in Section 7.2 hereof. Such mailing shall be deemed personal service
and shall be legal and binding upon the Company in any action, proceeding or claim.

 

7.4.Persons Having Rights under this Agreement.
Nothing in this Agreement expressed and nothing that may be implied from any of the provisions hereof is intended, or shall be
construed, to confer upon, or give to, any person or corporation other than the parties hereto and the registered holders of the
Rights and, for the purposes of Sections 3.1, 7.4 and 7.8 hereof, the Underwriters, any right, remedy, or claim under or by reason
of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Underwriters shall be deemed to
be a third-party beneficiary of this Agreement with respect to Sections 3.1, 7.4 and 7.8 hereof. All covenants, conditions, stipulations,
promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto (and the
Underwriters with respect to the Sections 3, 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders
of the Rights.

 

7.5.Examination of the Right Agreement. A copy
of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the Borough of Manhattan, City
and State of New York, for inspection by the registered holder of any Right. The Rights Agent may require any such holder to submit
his, her or its Right for inspection by it.

 

    	 

    	 

    

 

7.6.Counterparts. This Agreement may be executed
in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument.

 

7.7.Effect of Headings. The Section headings
herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.

 

7.8Amendments. This Agreement may be amended
by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity, or of curing, correcting
or supplementing any defective provision contained herein or adding or changing any other provisions with respect to matters or
questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely
affect the interest of the registered holders. All other modifications or amendments shall require the written consent or vote
of the registered holders of a majority of the then outstanding Rights. The provisions of this Section 7.8 may not be modified,
amended or deleted without the prior written consent of UBS Securities LLC.

 

7.9Severability. 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 and be valid and enforceable.

 

 

[Signature Page Follows]

 

 

    	 

    	 

    

 

IN WITNESS WHEREOF, this Agreement has been
duly executed by the parties hereto as of the day and year first above written.

 

	 	HYDRA INDUSTRIES ACQUISITION CORP.
	 	 	 
	 	By:	/s/A. Lorne Weil
	 	  	Name:  A. Lorne Weil
	 	 	Title:   Chief Executive Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER
	 	& TRUST COMPANY
	 	 	 
	 	By:	/s/Jeanne Schaffer
	 	 	Name:  Jeanne Schaffer
	 	 	Title:  Vice President

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