Document:

Exhibit 10.2

 

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement
(this “Agreement”) is entered into as of [●] by and between Hongli Group Inc., a Cayman Islands company (the
“Company”), and the undersigned, a director and/or an officer of the Company (“Indemnitee”), as
applicable.

 

RECITALS

 

The Board of Directors of
the Company (the “Board of Directors”) has determined that the inability to attract and retain highly competent persons
to serve the Company is detrimental to the best interests of the Company and its shareholders and that it is reasonable and necessary
for the Company to provide adequate protection to such persons against risks of claims and actions against them arising out of their services
to the corporation.

 

AGREEMENT

 

In consideration of the premises
and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

A. DEFINITIONS

 

The following terms shall
have the meanings defined below:

 

“Expenses”
shall include, without limitation, damages, judgments, fines, penalties, settlements and costs, attorneys’ fees and disbursements
and costs of attachment or similar bond, investigations, and any other expenses paid or incurred in connection with investigating, defending,
being a witness in, participating in (including on appeal), or preparing for any of the foregoing in, any Proceeding.

 

“Indemnifiable Event”
means any event or occurrence that takes place either before or after the execution of this Agreement, related to the fact that Indemnitee
is or was a director or an officer of the Company, or is or was serving at the request of the Company as a director or officer of another
corporation, partnership, joint venture or other entity, or related to anything done or not done by Indemnitee in any such capacity, including,
but not limited to neglect, breach of duty, error, misstatement, misleading statement or omission.

 

“Participant”
means a person who is a party to, or witness or participant (including on appeal) in, a Proceeding.

 

“Proceeding”
means any threatened, pending, or completed action, suit, arbitration or proceeding, or any inquiry, hearing or investigation, whether
civil, criminal, administrative, investigative or other, including appeal, in which Indemnitee may be or may have been involved as a party
or otherwise by reason of an Indemnifiable Event.

 

     

     

    

 

B. AGREEMENT TO INDEMNIFY

 

1. General Agreement.
In the event Indemnitee was, is, or becomes a Participant in, or is threatened to be made a Participant in, a Proceeding, the Company
shall indemnify the Indemnitee from and against any and all Expenses which Indemnitee incurs or becomes obligated to incur in connection
with such Proceeding, to the fullest extent permitted by applicable law.

 

2. Indemnification of Expenses
of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the
merits in defense of any Proceeding or in defense of any claim, issue or matter in such Proceeding, the Company shall indemnify Indemnitee
against all Expenses incurred in connection with such Proceeding or such claim, issue or matter, as the case may be.

 

3. Partial Indemnification.
If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for a portion of Expenses, but not for
the total amount of Expenses, the Company shall indemnify the Indemnitee for the portion of such Expenses to which Indemnitee is entitled.

 

4. No Employment Rights.
Nothing in this Agreement is intended to create in Indemnitee any right to continued employment with the Company.

 

5. Contribution. If
the indemnification provided in this Agreement is unavailable and may not be paid to Indemnitee for any reason other than those set forth
in Section B.4, then the Company shall contribute to the amount of Expenses paid in settlement actually and reasonably incurred and paid
or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by the Company on the one
hand and by the Indemnitee on the other hand from the transaction or events from which such Proceeding arose, and (ii) the relative fault
of the Company on the one hand and of the Indemnitee on the other hand in connection with the events which resulted in such Expenses,
as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and of the Indemnitee on the
other hand shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent the circumstances resulting in such Expenses, judgments, fines or settlement amounts. The Company
agrees that it would not be just and equitable if contribution pursuant to this Section B.5 were determined by pro rata allocation or
any other method of allocation which does not take account of the foregoing equitable considerations.

 

C. INDEMNIFICATION PROCESS

 

1. Notice and Cooperation
by Indemnitee. Indemnitee shall, as a condition precedent to his/her right to be indemnified under this Agreement, give the Company
notice in writing as soon as practicable of any claim made against Indemnitee for which indemnification will or could be sought under
this Agreement, provided that the delay of Indemnitee to give notice hereunder shall not prejudice any of Indemnitee’s rights hereunder,
unless such delay results in the Company’s forfeiture of substantive rights or defenses. Notice to the Company shall be given in
accordance with Section F.7 below. If, at the time of receipt of such notice, the Company has directors’ and officers’ liability
insurance policies in effect, the Company shall give prompt notice to its insurers of the Proceeding relating to the notice. The Company
shall thereafter take all necessary and desirable action to cause such insurers to pay, on behalf of Indemnitee, all Expenses payable
as a result of such Proceeding. In addition, Indemnitee shall give the Company such information and cooperation as the Company may reasonably
request.

 

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2. Indemnification Payment.

 

(a) Advancement
of Expenses. Indemnitee may submit a written request with reasonable particulars to the Company requesting that the Company advance
to Indemnitee all Expenses that may be reasonably incurred in advance by Indemnitee in connection with a Proceeding. The Company shall,
within 10 business days of receiving such a written request by Indemnitee, advance all requested Expenses to Indemnitee. Any excess of
the advanced Expenses over the actual Expenses will be repaid to the Company.

 

(b) Reimbursement
of Expenses. To the extent Indemnitee has not requested any advanced payment of Expenses from the Company, Indemnitee shall be entitled
to receive reimbursement for the Expenses incurred in connection with a Proceeding from the Company immediately after Indemnitee makes
a written request to the Company for reimbursement unless the Company refers the indemnification request to the Reviewing Party in compliance
with Section C.2(c) below.

 

(c) Determination
by the Reviewing Party. If the Company reasonably believes that it is not obligated under this Agreement to indemnify the Indemnitee,
the Company shall, within 10 days after the Indemnitee’s written request for an advancement or reimbursement of Expenses, notify
the Indemnitee that the request for advancement of Expenses or reimbursement of Expenses will be submitted to the Reviewing Party (as
hereinafter defined). The Reviewing Party shall make a determination on the request within 30 days after the Indemnitee’s written
request for an advancement or reimbursement of Expenses. Notwithstanding anything foregoing to the contrary, in the event the Reviewing
Party informs the Company that Indemnitee is not entitled to indemnification in connection with a Proceeding under this Agreement or applicable
law, the Company shall be entitled to be reimbursed by Indemnitee for all the Expenses previously advanced or otherwise paid to Indemnitee
in connection with such Proceeding; provided, however, that Indemnitee may bring a suit to enforce his/her indemnification right in accordance
with Section C.3 below.

 

3. Suit to Enforce Rights.
Regardless of any action by the Reviewing Party, if Indemnitee has not received full indemnification within 30 days after making a written
demand in accordance with Section C.2 above or 50 days if the Company submits a request for advancement or reimbursement to the Reviewing
Party under Section C.2(c) above, Indemnitee shall have the right to enforce its indemnification rights under this Agreement by commencing
litigation in any court of competent jurisdiction seeking a determination by the court or challenging any determination by the Reviewing
Party or any aspect of this Agreement. Any determination by the Reviewing Party not challenged by Indemnitee and any judgment entered
by the court shall be binding on the Company and Indemnitee.

 

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4. Assumption of Defense.
In the event the Company is obligated under this Agreement to advance or bear any Expenses for any Proceeding against Indemnitee, the
Company shall be entitled to assume the defense of such Proceeding, with counsel approved by Indemnitee, upon delivery to Indemnitee of
written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such
counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred
by Indemnitee with respect to the same Proceeding, unless (i) the employment of counsel by Indemnitee has been previously authorized by
the Company, (ii) Indemnitee shall have reasonably concluded, based on written advice of counsel, that there may be a conflict of interest
of such counsel retained by the Company between the Company and Indemnitee in the conduct of any such defense, or (iii) the Company ceases
or terminates the employment of such counsel with respect to the defense of such Proceeding, in any of which events the fees and expenses
of Indemnitee’s counsel shall be at the expense of the Company. At all times, Indemnitee shall have the right to employ counsel
in any Proceeding at Indemnitee’s expense.

 

5. Defense to Indemnification,
Burden of Proof and Presumptions. It shall be a defense to any action brought by Indemnitee against the Company to enforce this Agreement
that it is not permissible under this Agreement or applicable law for the Company to indemnify the Indemnitee for the amount claimed.
In connection with any such action or any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be
indemnified under this Agreement, the burden of proving such a defense or determination shall be on the Company.

 

6. No Settlement without
Consent. Neither party to this Agreement shall settle any Proceeding in any manner that would impose any damage, loss, penalty or
limitation on Indemnitee without the other party’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold
its consent to any proposed settlement.

 

7. Company Participation.
Subject to Section B.5, the Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial action
if the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense, conduct and/or settlement
of such action.

 

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8. Reviewing Party.

 

(a) For purposes
of this Agreement, the Reviewing Party with respect to each indemnification request of Indemnitee that is referred by the Company pursuant
to Section C.2(c) above shall be (A) the Board of Directors by a majority vote of a quorum consisting of Disinterested Directors (as hereinafter
defined), or (B) if a quorum of the Board of Directors consisting of Disinterested Directors is not obtainable or, even if obtainable,
said Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be
delivered to Indemnitee. If the Reviewing Party determines that Indemnitee is entitled to indemnification, payment to Indemnitee shall
be made within 10 days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable
advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. Any Independent Counsel or member of the Board of Directors shall
act reasonably and in good faith in making a determination under this Agreement of the Indemnitee’s entitlement to indemnification.
Any reasonable costs or expenses (including reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating
with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s
entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

(b) If the determination
of entitlement to indemnification is to be made by Independent Counsel, the Independent Counsel shall be selected as provided in this
Section C.8(b). The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by
the Board of Directors, in which event the proceeding sentence shall apply), and Indemnitee shall give written notice to the Company advising
it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within
10 days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written
objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so
selected does not meet the requirements of “Independent Counsel” as defined in Section C.8(d) of this Agreement, and
the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person
so selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not
serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit.
If, within 20 days after submission by Indemnitee of a written request for indemnification, no Independent Counsel shall have been selected
and not objected to, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which
shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as
Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect
to whom all objections are so resolved or the person so appointed shall act as Independent Counsel. The Company shall pay any and all
reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting under this Agreement,
and the Company shall pay all reasonable fees and expenses incident to the procedures of this Section C.8(b), regardless of the manner
in which such Independent Counsel was selected or appointed.

 

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(c) In making a
determination with respect to entitlement to indemnification hereunder, the Reviewing Party shall presume that Indemnitee is entitled
to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with this Agreement, and
the Company shall have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity
of any determination contrary to that presumption. The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement (with or without court approval), conviction, or upon a plea of nolocontendere or its equivalent, shall not (except
as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption
that Indemnitee did not act in good faith and in a manner which he/she reasonably believed to be in or not opposed to the best interests
of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his/her conduct was unlawful.
For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is
based on the records or books of account of the Company and any other corporation, partnership, joint venture or other entity of which
Indemnitee is or was serving at the written request of the Company as a director, officer, employee, agent or fiduciary, including financial
statements, or on information supplied to Indemnitee by the officers and directors of the Company or such other corporation, partnership,
joint venture or other entity in the course of their duties, or on the advice of legal counsel for the Company or such other corporation,
partnership, joint venture or other entity or on information or records given or reports made to the Company or such other corporation,
partnership, joint venture or other entity by an independent certified public accountant or by an appraiser or other expert selected with
reasonable care by the Company or such other corporation, partnership, joint venture or other entity. In addition, the knowledge and/or
actions, or failure to act, of any director, officer, agent or employee of the Company or such other corporation, partnership, joint venture
or other entity shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. The
provisions of this Section C.8(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee
may be deemed to have met the applicable standard of conduct set forth in this Agreement.

 

(d) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such party
(other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification
agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully indemnify
such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

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D. DIRECTOR AND OFFICER LIABILITY INSURANCE

 

1. Good Faith Determination.
The Company shall from time to time make the good faith determination whether or not it is practicable for the Company to obtain and maintain
a policy or policies of insurance with reputable insurance companies providing the officers and directors of the Company with coverage
for losses incurred in connection with their services to the Company or to ensure the Company’s performance of its indemnification
obligations under this Agreement.

 

2. Coverage of Indemnitee.
To the extent the Company maintains an insurance policy or policies providing directors’ and officers’ liability insurance,
Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available
for any of the Company’s directors or officers.

 

3. No Obligation. Notwithstanding
the foregoing, the Company shall have no obligation to obtain or maintain any director and officer insurance policy if the Company determines
in good faith that such insurance is not reasonably available in the case that (i) premium costs for such insurance are disproportionate
to the amount of coverage provided, or (ii) the coverage provided by such insurance is limited by exclusions so as to provide an insufficient
benefit.

 

E. NON-EXCLUSIVITY; U.S. FEDERAL PREEMPTION; TERM

 

1. Non-Exclusivity.
The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled under the
Company’s current memorandum and articles of association, as may be amended from time to time, applicable law or any written agreement
between Indemnitee and the Company (including its subsidiaries and affiliates). The indemnification provided under this Agreement shall
continue to be available to Indemnitee for any action taken or not taken while serving in an indemnified capacity even though he/she may
have ceased to serve in any such capacity at the time of any Proceeding.

 

2. U.S. Federal Preemption.
Notwithstanding the foregoing, both the Company and Indemnitee acknowledge that in certain instances, U.S. federal law or public policy
may override applicable law and prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise. Such
instances include, but are not limited to, the U.S. Securities and Exchange Commission (the “SEC”)’s prohibition
on indemnification for liabilities arising under certain U.S. federal securities laws. Indemnitee understands and acknowledges that the
Company has undertaken or may be required in the future to undertake with the SEC to submit the question of indemnification to a court
in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee.

 

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3. Duration of Agreement.
All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an officer and/or a director
of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise) and shall continue thereafter so long as Indemnitee shall be subject to any Proceeding by reason
of his/her former or current capacity at the Company, whether or not he/she is acting or serving in any such capacity at the time any
Expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall continue in effect regardless
of whether Indemnitee continues to serve as an officer and/or a director of the Company or any other enterprise at the Company’s
request.

 

F. MISCELLANEOUS

 

1. Amendment of this Agreement.
No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver
of any of the provisions of this Agreement shall operate as a waiver of any other provisions (whether or not similar), nor shall such
waiver constitute a continuing waiver. Except as specifically provided in this Agreement, no failure to exercise or any delay in exercising
any right or remedy shall constitute a waiver.

 

2. Subrogation. In
the event of payment to Indemnitee by the Company under this Agreement, the Company shall be subrogated to the extent of such payment
to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to
secure such rights, including the execution of such documents necessary to enable the Company to bring suit to enforce such rights.

 

3. Assignment; Binding
Effect. Neither this Agreement nor any of the rights or obligations hereunder may be assigned by either party hereto without the prior
written consent of the other party; except that the Company may, without such consent, assign all such rights and obligations to a successor
in interest to the Company which assumes all obligations of the Company under this Agreement. Notwithstanding the foregoing, this Agreement
shall be binding upon and inure to the benefit of and be enforceable by and against the parties hereto and the Company’s successors
(including any direct or indirect successor by purchase, merger, consolidation, or otherwise to all or substantially all of the business
and/or assets of the Company) and assigns, as well as Indemnitee’s spouses, heirs, and personal and legal representatives.

 

4. Severability and Construction.
Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation
of applicable law. The Company’s inability, pursuant to a court order, to perform its obligations under this Agreement shall not
constitute a breach of this Agreement. In addition, if any portion of this Agreement shall be held by a court of competent jurisdiction
to be invalid, void, or otherwise unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted by
applicable law. The parties hereto acknowledge that they each have opportunities to have their respective counsels review this Agreement.
Accordingly, this Agreement shall be deemed to be the product of both of the parties hereto, and no ambiguity shall be construed in favor
of or against either of the parties hereto.

 

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5. Counterparts. This
Agreement may be executed in two counterparts, both of which taken together shall constitute one instrument.

 

6. Governing Law. This
agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed
and interpreted in accordance with the laws of the State of New York, without giving effect to conflicts of law provisions thereof.

 

7. Notices. All notices,
demands, and other communications required or permitted under this Agreement shall be made in writing and shall be deemed to have been
duly given if delivered by hand, against receipt, or mailed via postage prepaid, certified or registered mail, return receipt requested,
and addressed to the Company at:

 

Hongli Group Inc.

Attention: Chief Executive Officer

 

and to Indemnitee at his/her address last known
to the Company.

 

8. Entire Agreement.
This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between
the parties with respect to the subject matter hereof.

 

[Signature page follows]

 

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IN WITNESS WHEREOF, the parties hereto execute
this Agreement as of the date first written above.

 

	 	Hongli Group Inc.
	 	 	 
	 	By:
    	                  
	 	Name:
    	Jie Liu
	 	Title:
    	CEO and Chairman
	 	 	 
	 	Indemnitee
	 	 	 
	 	Signature:
    	             
	 	Name:
    	[●]

 

[Signature Page to Indemnification Agreement-Hongli
Group Inc.]

 

 

10Exhibit 10.3

 

独家业务合作和管理协议

Exclusive Business Cooperation and Management
Agreement

 

合同编号/
Contract NO. 2

 

本独家业务合作和管理协议(下称“本协议”)由以下各方于2021年4月12日在中华人民共和国(下称“中国”)潍坊市签署:

 

This Exclusive Business Cooperation and Management
Agreement (“this Agreement”) is made and entered into by and between the following Parties on April 12, 2021 in the city of
Weifang, the People’s Republic of China (“China” or “PRC”):

 

甲方:山东祥丰重工有限公司,一家根据中国法律依法设立并有效存续的外商独资企业,注册地址为山东省潍坊市昌乐县经济开发区北三里街487号,法定代表人为刘洁。

 

Party A: Shandong Xiangfeng Heavy Industry Company
Limited, a wholly foreign-owned entity established and been validly existed under the laws of China, which is registered at North Sanli
Street No. 487, Economic Development District, Changle County, Weifang, Shandong, China; the legal representative of the company is Liu
Jie.

 

乙方:山东宏力异型钢管有限公司,一家根据中国法律依法设立并有效存续的有限责任公司,注册地址为昌乐县经济开发区,法定代表人为刘元庆。

 

Party B:Shandong Hongli Special Section Tube
Company Limited, a limited liability company established and been validly existed under the laws of China, which is registered at Economic
Development Zone, Changle County, Weifang, Shandong, China.; the legal representative of the company is Liu Yuanqing.

 

甲方和乙方以下各称为“一方”,统称为“双方”。

 

Each of Party A and Party B shall be hereinafter
referred to as a “Party” respectively, and as the “Parties” collectively.

 

鉴于:

Whereas,

 

		1.	甲方是一家在中国注册的外商独资企业,拥有提供本协议项下服务的必要资源;

 

Party A is a wholly foreign-owned enterprise
established in China, and has the necessary resources to provide the services set forth hereunder;

 

		2.	乙方是一家在中国注册的有限责任公司,根据中国法律法规规定从事经营活动(“业务”);

 

Party B is a limited liability company
established in China, and is entitled to engage business operations permitted by Chinese laws (“Business”);

 

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		3.	甲方同意在本协议期间向乙方提供业务的独家全面服务,乙方同意接受甲方或其指定方按本协议条款的规定提供服务。

 

Party A is willing to provide Party B
with exclusive services in relation to the Business during the term of this Agreement, and Party B is willing to accept such services
provided by Party A or Party A's designee(s), each on the terms set forth herein.

 

据此,甲方和乙方经协商一致,达成如下协议:

 

Now, therefore, through mutual discussion, the
Parties have reached the following agreements:

 

		1	服务提供

 

Services Provided by Party
A

 

		1.1	按照本协议条款和条件并在中国现行法律允许的范围内,乙方在此委任甲方在本协议期间作为乙方的独家服务提供者向乙方提供全面的业务支持、运营管理和技术服务和咨询服务,具体内容包括所有在乙方营业范围内由甲方不时决定的服务,包括但不限于以下内容:技术服务、业务咨询和市场咨询。

 

Party B hereby appoints Party A as
Party B’s exclusive services provider to provide Party B with complete business support, operational management and technical and
consulting services during the term of this Agreement, in accordance with the terms and conditions of this Agreement and to the extent
permitted by the currently effective laws of China, which may include all services within the business scope of Party B as may be determined
from time to time by Party A, such as but not limited to technical services, business consultations and marketing consultancy.

 

		1.2	甲方应全面独家地对乙方的经营活动负责,甲方包括有权任免董事/执行董事和高管成员。乙方的董事会/执行董事和股东会应当按照甲方的要求通过决议,乙方股东应当另行签署授权委托书明确甲方或其关联方享有的该等权利。甲方有权独家全面的管理和处置乙方的资产和现金流。甲方有权决定乙方资金的使用。甲方有权控制乙方的财务和日常运营,包括签署协议和支付费用开支等。

 

Party A shall be fully and exclusively
responsible for the operation of Party B, which includes the right to appoint and terminate members of Board of Directors/ executive director
and the right to hire managerial and administrative personnel etc. Party B or its voting proxy shall make a shareholder’s resolution
and a Board of Directors’/executive director’s resolution based on the decision of Party A, shareholders of Party B shall
grant such shareholder’s rights to Party A or its related parties by signing a Power of Attorney. Party A has the full and exclusive
right to manage and control all cash flow and assets of Party B. Party A has the full and exclusive right to decide the use of the funds
of Party B. Party A shall have the full and exclusive right to control and administrate the financial affairs and daily operation of Party
B, such as entering into and performance of contracts, and payment of fees and expenses etc.

 

    2

     

    

 

		1.3	乙方接受甲方的服务。乙方进一步同意,除非经甲方事先书面同意,在本协议期间,就本协议约定事宜,乙方不得接受任何第三方提供的任何类似服务和/或支持,不得与任何第三方建立任何类似合作。双方同意,甲方可以指定其他方(该被指定方可以与乙方签署本协议第1.4条描述的某些协议)为乙方提供本协议约定的服务和/或支持。

 

Party B agrees to accept all the services
provided by Party A. Party B further agrees that unless with Party A's prior written consent, during the term of this Agreement, Party
B shall not accept any similar consultations and/or services provided by any third party and shall not establish similar corporation relationship
with any third party regarding the matters contemplated by this Agreement. Party A may appoint other parties, who may enter into certain
agreements described in Section 1.4 with Party B, to provide Party B with the consultations and/or services under this Agreement.

 

		1.4	服务的提供方式

 

Service Providing
Methodology

 

		1.4.1	甲、乙双方同意在本协议有效期内,乙方可以与甲方或甲方指定的其他方进一步签订技术服务协议和咨询服务协议,对各项技术服务、咨询服务的具体内容、方式、人员、收费等进行约定。

 

Party A and Party B agree that during
the term of this Agreement, Party B may enter into further technical service agreements or consulting service agreements with Party A
or any other party designated by Party A, which shall provide the specific contents, manner, personnel, and fees for the specific technical
services and consulting services.

 

		1.4.2	为更好地履行本协议,甲乙双方同意,乙方在本协议有效期内将与甲方或甲方指定的其他方根据业务进展需要随时签署其他协议,。

 

To fulfill this Agreement, Party A
and Party B agree that during the term of this Agreement, Party B may enter into other agreements with Party A or any other party designated
by Party A.

 

		2	服务的价格和支付方式

 

The Calculation and
Payment of the Service Fees

 

		2.1	乙方每年应将其该年度经审计的全部净收入支付给甲方作为该年度服务费(“年度服务费”)。

 

Party B shall pay an annual service
fee to Party A in the equivalent amount of Party B’s audited total amount of net income of such year (the “Annual Service
Fee”).

 

    3

     

    

 

		2.2	如果乙方的年度净收入为零,则乙方不需要支付年度服务费。如果乙方在任何财政年度产生亏损,则该亏损将从下一年的年度服务费中扣除。

 

If Party B’s annual net income
is zero, Party B is not required to pay the Annual Service Fee; if Party B sustains losses in any fiscal year, all such losses will be
carried over to next year and deducted from next year’s Annual Service Fee.

 

		3	知识产权和保密条款

 

Intellectual Property
Rights and Confidentiality Clauses

 

		3.1	甲方对履行本协议而产生或创造的任何权利、所有权、权益和所有知识产权包括但不限于著作权、专利权、专利申请权、软件、技术秘密、商业机密及其他均享有独占的和排他的权利和利益。

 

Party A shall have exclusive and proprietary
rights and interests in all rights, ownership, interests and intellectual properties arising out of or created during the performance
of this Agreement, including but not limited to copyrights, patents, patent applications, software, technical secrets, trade secrets and
others.

 

		3.2	双方承认及确定有关本协议、本协议内容,以及彼此就准备或履行本协议而交换的任何口头或书面资料均被视为保密信息。双方应当对所有该等保密信息予以保密,在未得到另一方书面同意前,不得向任何第三方披露任何保密信息,惟下列信息除外:(a)公众人士知悉或将会知悉的任何信息(惟并非由接受保密信息之一方擅自向公众披露);(b)根据适用法律法规、股票交易规则、或政府部门或法院的命令而所需披露之任何信息;或(c)由任何一方就本协议所述交易而需向其股东、投资者、法律或财务顾问披露之信息,而该股东、法律或财务顾问亦需遵守与本条款相类似之保密责任。如任何一方工作人员或聘请机构的泄密均视为该方的泄密,需依本协议承担违约责任。无论本协议以任何理由终止,惟本条款仍然生效。

 

The Parties acknowledge that the existence
and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and
performance this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential
information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information
to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s
unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock
exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders,
investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors,
legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section. Disclosure
of any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information
by such Party, which Party shall be held liable for breach of this Agreement. This Section shall survive the termination of this Agreement
for any reason.

 

    4

     

    

 

		3.3	双方同意,不论本协议是否变更、解除或终止,本条款将持续有效。

 

The Parties agree that this Section
shall survive changes to, and rescission or termination of, this Agreement.

 

		4	陈述和保证

 

Representations and
Warranties

 

		4.1	甲方陈述和保证如下:

 

Party A hereby represents and warrants
as follows:

 

		4.1.1	甲方是按照中国法律合法注册并有效存续的外商独资企业。

 

Party A is a domestic wholly foreign-owned
enterprise legally registered and validly existing in accordance with the laws of China.

 

		4.1.2	甲方签署并履行本协议在其公司权力和营业范围中;已采取必要的公司行为和适当授权并取得第三方和政府部门的同意及批准;并不违反对其有约束力或影响的法律和其他的限制。

 

Party A’s execution and performance
of this Agreement is within its corporate capacity and the scope of its business operations; Party A has taken necessary corporate actions
and given appropriate authorization and has obtained the consent and approval from third parties and government agencies, and will not
violate any restrictions in law or otherwise binding or having an impact on Party A.

 

		4.1.3	本协议构成对其合法、有效、有约束力并依本协议之条款对其强制执行的义务。

 

This Agreement constitutes Party A's
legal, valid and binding obligations, enforceable in accordance with its terms.

 

		4.2	乙方陈述和保证如下:

 

Party B hereby represents and
warrants as follows:

 

		4.2.1	乙方是按照中国法律合法注册且有效存续的有限责任公司。

 

Party B is a limited liability company
legally registered and validly existing in accordance with the laws of China.

 

    5

     

    

 

		4.2.2	乙方签署并履行本协议在其公司权力和营业范围中;已采取必要的公司行为和适当授权并取得第三方或政府的同意和批准;并不违反对其有约束力影响的法律和其他的限制。

 

Party B's execution and performance
of this Agreement is within its corporate capacity and the scope of its business operations; Party B has taken necessary corporate actions
and given appropriate authorization and has obtained the consent and approval from third parties and government agencies, and will not
violate any restrictions in law or otherwise binding or having an impact on Party B.

 

		4.2.3	本协议构成对其合法、有效、有约束力并依本协议之条款对其强制执行的义务。

 

This Agreement constitutes Party B’s
legal, valid and binding obligations, and shall be enforceable against it.

 

		5	生效和有效期

 

Effectiveness and Term

 

		5.1	本协议于文首标明的协议日期签署并同时生效。除非依本协议或双方其他协议的约定而提前终止,本协议有效期为持续有效,除非经协议各方一致书面同意予以解除。

 

This Agreement is executed on the date
first above written and shall take effect as of such date. Unless earlier terminated in accordance with the provisions of this Agreement
or relevant agreements separately executed between the Parties, the term of this Agreement shall be continuously effective unless mutually
terminated by all parties in writing.

 

		5.2	协议期满前,经甲方书面确认,本协议可以延期。延期的期限由甲方决定,乙方必须无条件地同意该延期。

 

The term of this Agreement may be extended
if confirmed in writing by Party A prior to the expiration thereof. The extended term shall be determined by Party A, and Party B shall
accept such extended term unconditionally.

 

		6	终止

 

Termination

 

		6.1	除非依据本协议续期,本协议于到期之日终止。

 

Unless renewed in accordance with the
relevant terms of this Agreement, this Agreement shall be terminated upon the date of expiration hereof.

 

    6

     

    

 

		6.2	本协议有效期内,除非甲方对乙方有重大过失或存在欺诈行为,乙方不得提前终止本协议。尽管如此,甲方可在任何时候通过提前30天向乙方发出书面通知的方式终止本协议。

 

During the term of this Agreement, unless
Party A commits gross negligence, or a fraudulent act, against Party B, Party B shall not terminate this Agreement prior to its expiration
date. Nevertheless, Party A shall have the right to terminate this Agreement upon giving 30 days' prior written notice to Party B at any
time.

 

		6.3	在本协议终止之后,双方在第3、7和8条项下的权利和义务将继续有效。

 

The rights and obligations of the Parties
under Articles 3, 7 and 8 shall survive the termination of this Agreement.

 

		7	适用法律和争议解决

 

Governing Law and Resolution
of Disputes

 

		7.1	本协议的订立、效力、解释、履行、修改和终止以及争议的解决适用中国的法律。

 

The execution, effectiveness, construction,
performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of China.

 

		7.2	因解释和履行本协议而发生的任何争议,本协议双方应首先通过友好协商的方式加以解决。如果在一方向另一方发出要求协商解决的书面通知后30天之内争议仍然得不到解决,则任何一方均可将有关争议提交给中国国际经济贸易仲裁委员会,由该会按照其届时有效的仲裁规则仲裁解决。仲裁应在北京进行,使用之语言为中文。仲裁裁决是终局性的,对双方均有约束力。

 

In the event of any dispute with respect
to the construction and performance of the provisions of this Agreement, the Parties shall negotiate in good faith to resolve the dispute.
In the event the Parties fail to reach an agreement on the resolution of such a dispute within 30 days after any Party's request for resolution
of the dispute through negotiations, any Party may submit the relevant dispute to the China International Economic and Trade Arbitration
Commission for arbitration, in accordance with its then-effective arbitration rules. The arbitration shall be conducted in Beijing, and
the language used during arbitration shall be Chinese. The arbitration ruling shall be final and binding on both Parties.

 

		7.3	因解释和履行本协议而发生任何争议或任何争议正在进行仲裁时,除争议的事项外,本协议双方仍应继续行使各自在本协议项下的其他权利并履行各自在本协议项下的其他义务。

 

Upon the occurrence of any disputes
arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters
under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their
respective obligations under this Agreement.

 

    7

     

    

 

		8	补偿

 

Indemnification

 

就甲方根据本协议向乙方提供的咨询和服务内容所产生或引起的针对甲方的诉讼、请求或其他要求而招致的任何损失、损害、责任或费用都应由乙方补偿给甲方,以使甲方不受损害,除非该损失、损害、责任或费用是因甲方的重大过失或故意产生的。

 

Party B shall indemnify and hold harmless Party
A from any losses, injuries, obligations or expenses caused by any lawsuit, claims or other demands against Party A arising from or caused
by the consultations and services provided by Party A to Party B pursuant this Agreement, except where such losses, injuries, obligations
or expenses arise from the gross negligence or willful misconduct of Party A.

 

		9	通知

 

Notices

 

		9.1	本协议项下要求或发出的所有通知和其他通信应通过专人递送、挂号邮寄、邮资预付或商业快递服务或传真的方式发到本协议首页双方的地址或以后随时以书面形式通知的其他指定地址。每一通知还应再以电子邮件送达。该等通知视为有效送达的日期按如下方式确定:

 

All notices and other communications
required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid,
by a commercial courier service or by facsimile transmission to the address of the parties which are written at the first page of this
Agreement or other designated address that will be notified in writing at any time in the future. A confirmation copy of each notice shall
also be sent by email. The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

 

		9.1.1	通知如果是以专人递送、快递服务或挂号邮寄、邮资预付发出的,则以于设定为通知的地址在发送或拒收之日为有效送达日。

 

Notices given by personal delivery,
by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at the
address specified for notices.

 

		9.1.2	通知如果是以传真发出的,则以成功传送之日为有效送达日(应以自动生成的传送确认信息为证)。

 

Notices given by facsimile transmission
shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

 

    8

     

    

 

		10	协议的转让

 

Assignment

 

		10.1	乙方不得将其在本协议项下的权利与义务转让给第三方,除非事先征得甲方的书面同意。

 

Without Party A's prior written consent,
Party B shall not assign its rights and obligations under this Agreement to any third party.

 

		10.2	乙方在此同意,甲方可以在其需要时向其他第三方转让其在本协议项下的权利和义务,并在该等转让发生时甲方仅需向乙方发出书面通知,并且无需再就该等转让征得乙方的同意。

 

Party B agrees that Party A may assign
its obligations and rights under this Agreement to any third party upon a prior written notice to Party B but without the consent of Party
B.

 

		11	协议的分割性

 

Severability

 

如果本协议有任何一条或多条规定根据任何法律或法规在任何方面被裁定为无效、不合法或不可执行,本协议其余规定的有效性、合法性或可执行性不应因此在任何方面受到影响或损害。双方应通过诚意磋商,争取以法律许可以及双方期望的最大限度内有效的规定取代那些无效、不合法或不可执行的规定,而该等有效的规定所产生的经济效果应尽可能与那些无效、不合法或不能强制执行的规定所产生的经济效果相似。

 

In the event that one or several of the provisions
of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity,
legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect. The Parties
shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the
greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close
as possible to the economic effect of those invalid, illegal or unenforceable provisions.

 

		12	协议的修改、补充

 

Amendments and Supplements

 

		12.1	双方可以书面协议方式对本协议做出修改和补充。经过双方签署的有关本协议的修改协议和补充协议是本协议组成部分,具有与本协议同等的法律效力。

 

Any amendments and supplements to this
Agreement shall be in writing. The amendment agreements and supplementary agreements that have been signed by the Parties and that relate
to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement.

 

    9

     

    

 

		12.2	本协议生效后,为各方签署的整体协议,代替本协议签订前签署的其他口头或书面协议,与本协议不一致的以本协议为准。

 

This Agreement constitutes the whole
agreement between the parties hereto and shall supersede the terms of any agreement, whether oral or otherwise, made prior to the entering
into of this Agreement.

 

		13	语言和副本

 

Language and Counterparts

 

本协议以中文和英文书就,一式二份,甲乙方各持一份,具有同等效力;中英文版本如有冲突,应以中文版为准。

This Agreement is written in both Chinese and
English language in four copies, each Party having two copies with equal legal validity; in case there is any conflict between the Chinese
version and the English version, the Chinese version shall prevail.

 

[以下无正文]

[The Remainder of this page is intentionally left
blank]

 

    10

     

    

 

有鉴于此,双方已使得经其授权的代表于文首所述日期签署了本独家业务合作和管理协议并即生效,以昭信守。

 

IN WITNESS WHEREOF, the Parties have caused their
authorized representatives to execute this Exclusive Business Cooperation and Management Agreement as of the date first above written.

 

甲方:山东祥丰重工有限公司(盖章)

 

Party A:Shandong Xiangfeng Heavy Industry
Company Limited

 

法定代表人或授权代表签署:
    /s/ Jie Liu          

(Signature of legal representative or authorized representative)

 

乙方:山东宏力异型钢管有限公司(盖章)

 

Party B:Shandong Hongli Special Section Tube
Company Limited

 

 

法定代表人或授权代表签署:   /s/ Yuanqing Liu          

(Signature of legal representative or authorized representative)

 

 

 

11

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