Document:

Form of Indemnification Agreement

 Exhibit 10.3 
 BCD SEMICONDUCTOR MANUFACTURING LIMITED 
 INDEMNIFICATION AGREEMENT

 This Indemnification Agreement (this “Agreement”) is dated as of [—], and is between BCD Semiconductor Manufacturing Limited, an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Company”), and [—] (“Indemnitee”). 
 RECITALS 

A.        The Company desires to attract and retain the services of highly
qualified individuals, such as Indemnitee. 
 B.        The Company and
Indemnitee recognize that individuals are reluctant to serve as directors or officers of corporations or in certain other capacities unless they are provided with adequate protection through insurance or indemnification against the risks of
litigation and claims against them arising out of such service. 

C.        In light of the increases in corporate litigation in general, and the
limited protections provided by applicable law, the Company’s governing documents and any insurance, Indemnitee may not be willing to serve as a director or officer without additional protection. 

D.        In order to induce Indemnitee to continue to provide services to the
Company, it is reasonable, prudent and necessary for the Company to contractually obligate itself to indemnify, and to advance expenses on behalf of, Indemnitee as permitted by applicable law. 

E.        This Agreement is a supplement to and in furtherance of the
indemnification provided in the Company’s articles of association, and any resolutions adopted pursuant thereto, and this Agreement shall not be deemed a substitute therefor, nor shall this Agreement be deemed to limit, diminish or abrogate any
rights of Indemnitee thereunder. 
 The parties therefore agree as follows: 

1.    Definitions.  
 (a)        A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the
following events: 
 (i)        Acquisition of Stock by Third
Party. Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing twenty (20) percent or more of the combined voting power of the Company’s
then outstanding securities; 
 (ii)        Change in Board
Composition. During any period of two consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Company’s board of directors, and any new directors
(other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 1(a)(i), 1(a)(iii) or 1(a)(iv)) whose election by the board of directors or nomination for election
by the Company’s shareholders was approved by a vote of at least two-thirds of the directors then still in office who 

 
either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members
of the Company’s board of directors; 
 (iii)        Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or
consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the surviving entity outstanding
immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity; 

(iv)        Liquidation. The approval by the shareholders of the Company
of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; and 

(v)        Other Events. Any other event of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended, whether or not the
Company is then subject to such reporting requirement. 
 For purposes of this Section 1(a), the following
terms shall have the following meanings: 

(1)        “Person” shall have the meaning as set forth
in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended; provided, however, that “Person” shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities
under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of stock of the Company. 

(2)        “Beneficial Owner” shall have the meaning
given to such term in Rule 13d-3 under the Securities Exchange Act of 1934, as amended; provided, however, that “Beneficial Owner” shall exclude any Person otherwise becoming a Beneficial Owner by reason of
(i) the shareholders of the Company approving a merger of the Company with another entity or (ii) the Company’s board of directors approving a sale of securities by the Company to such Person. 

(b)        “Corporate Status” describes the status of a
person who is or was a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of the Company or any other Enterprise. 
 (c)        “Enterprise” means the Company and any other corporation, partnership, limited liability company, joint venture, trust, employee
benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary. 

(d)        “Expenses” include all reasonable
attorneys’ fees, retainers, court costs, transcript costs, fees and costs of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements
or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses also include
(i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without 

  
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limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond or other appeal bond or their equivalent, (ii) Expenses incurred by Indemnitee in connection
with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company, and (iii) Expenses incurred in a
Declaratory Action pursuant to Section 10(c). Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 

(e)        “Independent Counsel” means a law firm, or a
partner or 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 as Independent Counsel with respect to matters concerning Indemnitee under this Agreement, or 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. 
 (f)        “Proceeding” means any threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing or proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature, including any appeal therefrom and including
without limitation any such Proceeding pending as of the date of this Agreement, in which Indemnitee was, is or will be involved as a party, a potential party, a non-party witness or otherwise by reason of (i) the fact that Indemnitee is or was
a director or officer of the Company, (ii) any action taken by Indemnitee or any action or inaction on Indemnitee’s part while acting as a director or officer of the Company, or (iii) the fact that he or she is or was serving at the
request of the Company as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of the Company or any other Enterprise, in each case whether or not serving in such capacity at the time any liability or Expense
is incurred for which indemnification or advancement of expenses can be provided under this Agreement. 

(g)        Reference to “other enterprises” shall include
employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at the request of the Company” shall
include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and
a person who acted in good faith and in a manner he or she reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the
best interests of the Company” as referred to in this Agreement. 
 2.    Indemnity in
Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 2 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or
in the right of the Company to procure a judgment in its favor. Pursuant to this Section 2, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein. 
 3.    Indemnity in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 3 if Indemnitee
is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by
applicable law 

  
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against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein. No indemnification for
Expenses shall be made under this Section 3 in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged by a court of competent jurisdiction to be liable to the Company, unless and only to the extent that such court
or any court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such
expenses as such court or such other court shall deem proper. 
 4.    Indemnification for Expenses of a
Party Who is Wholly or Partly Successful. To the extent that Indemnitee is a party to or a participant in and is successful (on the merits or otherwise) in defense of any Proceeding or any claim, issue or matter therein, the Company shall
indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. To the extent permitted by applicable law, if Indemnitee is not wholly successful in such Proceeding but
is successful, on the merits or otherwise, in defense of one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection with (a) each successfully resolved claim, issue or matter and (b) any claim, issue or matter related to any such successfully resolved claim, issue or matter. For purposes of this section, the
termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

5.    Indemnification for Expenses of a Witness. To the extent that Indemnitee is, by reason of his or her
Corporate Status, a witness in any Proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified to the extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection therewith. 
 6.    Additional Indemnification. 

(a)        Notwithstanding any limitation in Sections 2, 3 or 4, the Company
shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment
in its favor) against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on his or her behalf in connection with the Proceeding or any claim, issue or matter therein. 

(b)        For purposes of Section 6(a), the meaning of the phrase
“to the fullest extent permitted by applicable law” shall include, but not be limited to: 
 (i)        the fullest extent permitted by the provision of the laws of the Cayman Islands or otherwise, as applicable, that authorizes or contemplates additional
indemnification by agreement, or the corresponding provision of any amendment to or replacement of such laws; and 
 (ii)        the fullest extent authorized or permitted by any amendments to or replacements of the laws of the Cayman Islands or otherwise, as applicable, adopted
after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors. 

7.    Exceptions. Notwithstanding any provision in this Agreement, the Company shall not be obligated under
this Agreement: 
 (a)        To indemnify Indemnitee for an accounting
or disgorgement of profits pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, if applicable, or similar provisions of U.S. 

  
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federal, state or local statutory law or common law, if Indemnitee is held conclusively by a court of competent jurisdiction to be liable therefor (including pursuant to any settlement
arrangements); 
 (b)        To indemnify Indemnitee for any
reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Securities Exchange
Act of 1934, as amended (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to
the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor (including pursuant to any settlement arrangements); 

(c)        To advance expenses or provide indemnification in connection with any
Proceeding (or any part of any Proceeding) initiated or brought voluntarily by Indemnitee, and not by way of defense, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers,
employees, agents or other indemnitees, unless (i) the Company’s board of directors authorized the Proceeding (or the relevant part of the Proceeding) prior to its initiation, (ii) the Company provides the indemnification, in its sole
discretion, pursuant to the powers vested in the Company under applicable law; (iii) with respect to Proceedings brought to establish or enforce a right to indemnification or advancement under this Agreement or any other agreement, insurance
policy, or under the Company’s Articles of Association, as now or hereafter in effect; or (iv) otherwise required by applicable law; or 
 (d)        To provide indemnification for any acts, omissions or transactions from which Indemnitee may not be relieved of liability under applicable law.

 8.    Advancement of Expenses. The Company shall advance the Expenses incurred by Indemnitee in
connection with any Proceeding, and such advancement shall be made as soon as reasonably practicable, but in any event no later than thirty (30) days after the receipt by the Company of a written statement or statements requesting such advances
from time to time (which shall include invoices received by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditure made that would cause
Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice). Indemnitee hereby undertakes to repay any advance to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified
by the Company. This Section 8 shall not apply to the extent advancement is prohibited by law and shall not apply to any Proceeding for which indemnity is not permitted under this Agreement, but shall apply to any Proceeding referenced in
Section 7(a) or 7(b) prior to a determination that Indemnitee is not entitled to be indemnified by the Company. 

9.    Procedures for Notification and Defense of Claim. 

(a)        Indemnitee shall notify the Company in writing of any matter with
respect to which Indemnitee intends to seek indemnification or advancement of Expenses as soon as reasonably practicable following the receipt by Indemnitee of notice thereof. The written notification to the Company shall include, in reasonable
detail, a description of the nature of the Proceeding and the facts underlying the Proceeding. The failure by Indemnitee to notify the Company will not relieve the Company from any liability which it may have to Indemnitee hereunder or otherwise
than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights, except to the extent that such failure or delay materially prejudices the Company. 

  
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 (b)        If, at the time of the
receipt of a notice of a Proceeding pursuant to the terms hereof, the Company has directors’ and officers’ liability insurance in effect, the Company shall give prompt notice of the commencement of the Proceeding to the insurers in
accordance with the procedures set forth in the applicable policies. The Company shall thereafter take all reasonable and necessary action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in
accordance with the terms of such policies. 
 (c)        In the event
the Company may be obligated to provide indemnification in connection with a Proceeding, the Company shall be entitled to assume the defense of such Proceeding with counsel approved by Indemnitee, which approval shall not be unreasonably withheld,
upon the 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 for any
fees or expenses of counsel subsequently incurred by Indemnitee with respect to the same Proceeding. Notwithstanding the Company’s assumption of the defense of any such Proceeding, the Company shall be obligated to pay the fees and expenses of
Indemnitee’s counsel to the extent (i) the employment of counsel by Indemnitee is authorized by the Company, (ii) the Company shall have reasonably concluded that there is a conflict of interest between the Company and Indemnitee in
the conduct of any such defense such that Indemnitee needs to be separately represented, (iii) the fees and expenses are non-duplicative and reasonably incurred in connection with Indemnitee’s role in the Proceeding despite the
Company’s assumption of the defense, (iv) the Company is not financially or legally able to perform its indemnification obligations or (v) the Company shall not have retained, or shall not continue to retain, such counsel to defend
such Proceeding. The Company shall have the right to conduct such defense as it sees fit in its sole discretion, including the right to settle any Proceeding (or any part thereof) without the consent of Indemnitee. Indemnitee shall give the Company
such information and cooperation in connection with the Proceeding as may be reasonably appropriate. The Company shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company.

 (d)        Regardless of any provision in this Agreement, Indemnitee
shall have the right to employ counsel in any Proceeding at Indemnitee’s personal expense. The Company shall not be liable to indemnify Indemnitee for any settlement of any Proceeding (or any part thereof) entered into without the
Company’s prior written consent, which shall not be unreasonably withheld. 
 10.  Procedures upon Application
for Indemnification.  
 (a)        To obtain indemnification,
Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and as is reasonably necessary to determine whether and to what extent Indemnitee is
entitled to indemnification following the final disposition of the Proceeding. Any delay in providing the request will not relieve the Company from its obligations under this Agreement, except to the extent such failure is prejudicial. Indemnitee
shall cooperate with the person, persons or entity making the 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 that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements)
reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company, to the extent permitted by applicable law. 

(b)        If a Change in Control has occurred, upon written request by
Indemnitee for indemnification pursuant to Section 10(a), a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made, at the election of Indemnitee, by Independent Counsel selected

  
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by and paid for by the Company in a written opinion to the Company’s board of directors, a copy of which shall be delivered to Indemnitee. If it is so determined that Indemnitee is entitled
to indemnification, payment to Indemnitee shall be made within ten (10) business days after such determination. 
 (c)        If at any time the Company believes that Indemnitee has not met the standards of conduct which make it permissible under applicable law to indemnify
Indemnitee or advance expenses for the amount(s) claimed, the Company may file an action to obtain a declaratory judgment that Indemnitee is not entitled under applicable law to receive indemnification or advancement from the Company
(“Declaratory Action”). In any such Declaratory Action, the burden of proof shall be on the Company to establish that Indemnitee is not entitled to indemnification or advances. If the Company files a Declaratory Action, Indemnitee shall be
entitled to receive interim payment of Expenses pursuant to Section 8 including Expenses defending a Declaratory Action unless and until the court issues an order or judgment that Indemnitee is not entitled under applicable law to receive
indemnification or advancement from the Company. In the event of an order or judgment in a Declaratory Action that Indemnitee is not entitled under applicable law to receive indemnification or advancement from the Company, the Company shall have no
further obligation under this Agreement, the Company’s articles of association, or any other applicable law, statute or rule to provide indemnification or advancement of Expenses to Indemnitee. 

(d)        Notwithstanding anything in this Agreement to the contrary, no
determination as to entitlement to indemnification shall be required to be made prior to the final disposition of the Proceeding. 
 11.  Presumptions and Effect of Certain Proceedings. 
 (a)        The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo
contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself create a presumption that Indemnitee did not act in good faith and in a manner which he or 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 or her conduct was unlawful. 

(b)        Neither (i) the failure of the Company, its board of directors,
any committee or subgroup of the board of directors, Independent Counsel or shareholders to have made a determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct,
nor (ii) an actual determination by the Company, its board of directors, any committee or subgroup of the board of directors, Independent Counsel or shareholders that Indemnitee has not met the applicable standard of conduct, shall create a
presumption that Indemnitee has or has not met the applicable standard of conduct. 

(c)        None of the knowledge, actions or failure to act of any other
director, officer, agent or employee of the Enterprise shall be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 
 12.  Non-exclusivity. The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which
Indemnitee may at any time be entitled under applicable law, the Company’s articles of association, any agreement, a vote of shareholders or a resolution of directors, or otherwise. To the extent that a change in the laws of the Cayman Islands,
or otherwise, as applicable, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Company’s articles of association and this Agreement, it is the intent
of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change, subject to the restrictions expressly set forth herein or therein. Except as

  
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expressly set forth herein, no right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. Except as expressly set forth herein, the assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other right or remedy. 
 13.  No Duplication of Payments. The
Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received payment for such
amounts under any insurance policy, contract, agreement or otherwise. 
 14.  Insurance. To the extent that the
Company maintains an insurance policy or policies providing liability insurance for directors, trustees, general partners, managing members, officers, employees, agents or fiduciaries of the Company or any other Enterprise, Indemnitee shall be
covered by such policy or policies to the same extent as the most favorably-insured persons under such policy or policies in a comparable position. 
 15.  Subrogation. In the event of any payment 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 take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 

16.  No Construction as Employment Agreement. This Agreement shall not be deemed an employment contract between the
Company (or any of its subsidiaries or any Enterprise) and Indemnitee, and nothing contained in this Agreement shall be construed as giving Indemnitee any right to be retained in the employ of the Company or any of its subsidiaries. 

17.  Successors. This Agreement shall inure to the benefit of Indemnitee and Indemnitee’s heirs, executors and
administrators. 
 18.  Severability. 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 court order or other applicable law, to perform its obligations under this Agreement shall not constitute a breach of this
Agreement. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (i) the validity, legality and enforceability of the remaining provisions of this Agreement (including
without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby
and shall remain enforceable to the fullest extent permitted by law; (ii) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties
hereto; and (iii) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is
not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. 

19.  Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the
subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to
and in furtherance of the Company’s articles of association and applicable law. 
 20.  Modification and
Waiver. No supplement, modification or amendment to this Agreement shall be binding unless executed in writing by the parties hereto. No amendment, alteration or repeal of this Agreement 

  
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shall adversely affect any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration
or repeal. No waiver of any of the provisions of this Agreement shall constitute or be deemed a waiver of any other provision of this Agreement nor shall any waiver constitute a continuing waiver. 

21.  Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be
mailed by registered or certified mail, postage prepaid, sent by facsimile or electronic mail or otherwise delivered by hand, messenger or courier service addressed: 

(a)        if to Indemnitee, to Indemnitee’s address, facsimile number or
electronic mail address as shown on the signature page of this Agreement or in the Company’s records, as may be updated in accordance with the provisions hereof; or 

(b)        if to the Company, to the attention of the Chief Executive Officer or
Chief Financial Officer of the Company at No. 1600, Zi Xing Road, Shanghai ZiZhu Science Park, 200241, China, or at such other current address as the Company shall have furnished to Indemnitee, with a copy (which shall not constitute notice) to
Ms. Carmen Chang, Wilson Sonsini Goodrich & Rosati, P.C., Jin Mao Tower, 38F, Unit 01-04, 88 Century Boulevard, Pudong New Area, Shanghai 200121, China. 

Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been
given (i) if delivered by hand, messenger or courier service, when delivered (or if sent via a internationally-recognized overnight courier service, freight prepaid, specifying next-business-day delivery, one business day after deposit
with the courier), (ii) if sent via mail, at the earlier of its receipt or five (5) days after the same has been deposited in a regularly-maintained receptacle for the deposit of the mail in China, addressed and mailed as aforesaid,
or (iii) if sent via facsimile, upon confirmation of facsimile transfer or, if sent via electronic mail, when directed to the relevant electronic mail address, if sent during normal business hours of the recipient, or if not sent
during normal business hours of the recipient, then on the recipient’s next business day. 
 22.  Applicable
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware of the United States, without regard to conflict of
laws rules. The Company and Indemnitee hereby (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the State of Delaware of the United States, and not in any other state or federal
court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the State of Delaware of the United States for purposes of any action or proceeding arising out of or in connection
with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware of the United States, National Corporate Research, Ltd. as its agent in the State of Delaware of the United
States as such party’s agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware of the
United States, waive any objection to the laying of venue of any such action or proceeding in the State of Delaware of the United States, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in
the State of Delaware of the United States has been brought in an improper or inconvenient forum. 

23.  Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be
deemed to be an original but all of which together shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature and in counterparts, each of which shall for all purposes be deemed to be an
original but all of which together shall constitute one and the same 

  
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Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement. 

24.  Captions. The headings of the Sections of this Agreement are inserted for convenience only and shall not be deemed
to constitute part of this Agreement or to affect the construction thereof. 

  
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 The parties are signing this Indemnification Agreement as of the date stated
in the introductory sentence. 
  

	
	BCD SEMICONDUCTOR MANUFACTURING LIMITED
	
	  

	(Signature)
	
	  

	(Print name)
	
	  

	(Title)
	
	[INSERT INDEMNITEE NAME]
	
	  

	(Signature)
	
	  

	(Print name)
	
	  

	(Address)State-owned Land Use Right Grant Contract

 Exhibit 10.4 
 Shanghai Municipality 
 Contract for the Grant of Land Use Rights for
State-Owned 
 Land 
 Hu Min Fang Di (2006) Chu Rang He Tong Di 23 Hao 
 Bureau of Housing and Land
Administration, Minhang District, Shanghai 
 February 15th, 2006 
 Grantor: Bureau of Housing and Land Administration, Minhang District, Shanghai (hereinafter “Party A”) 
 Legal representative: Yu Jianyuan 
 Grantee: BCD (Shanghai) Semiconductor Manufacturing
Limited (hereinafter “Party B”) 
 Legal representative: Zhang Guowei 
 Both Parties shall comply with the Land Administration Law of the People’s Republic of China, the Real Estate Administration Law for Urban Areas of the People’s Republic of China, the Interim
Regulations of the People’s Republic of China Concerning the Grant and Transfer of the State-Owned Land Use Right in Urban Areas, the Measures of Shanghai Municipality on the Transfer of Land Use Rights and other relevant laws and regulations.
Pursuant to the Min Fu Tu (2006) No. 27, the parties hereto hereby enter into this contract (the “Contract”): 

Article 1 
 The land (the
“Land”) whose use right is granted hereunder is owned by the People’s Republic of China. Under the laws of the People’s Republic of China, the State and the government have judicial and administrative jurisdiction over the
Land and have other state powers, rights and interests as required by the public interest in connection therewith. Subterranean minerals and resources, buried objects and municipal public utility facilities etc. are not within the scope of the grant
herein. 
 Article 2 
 The Land
is located at the 1/1 Land Plot in the Sixtieth Street, Zhuanqiao Township, Minhang District, Shanghai. The area of the land plot is 109,808.8 square meters. The area, location and boundaries of the plot are indicated in the Exhibit to this
Contract, which Exhibit has been signed and acknowledged by both Party A and Party B. 
 The land use right is granted under this Contract for
industrial purpose, the term being fifty (50) years commencing from the date of this Contract (the “Term”). 
 Article
3 
 The land use right grant premium (the “Premium”) shall be RMB 9,718,079 (Nine Million Seven Hundred Eighteen Thousand
and Seventy-Nine). The foreign investors of Party B shall convert their foreign exchange into RMB for payment pursuant to the administrative rules of the State Administration of Foreign Exchange. 

  
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 During the Term for the granted land use, Party B shall pay an annual land use fee to the Shanghai
Administration Center for Land Fee at RMB 1 per square meter. 
 Article 4 

Within 15 days from the execution of this Contract, i.e. prior to
March 2nd, 2006, Party B shall deposit with Shanghai
Housing and Land Resources Administration Bureau RMB 900,000 (Nine Hundred Thousand) (the “Deposit”) to guarantee its performance of the Contract. Such deposit shall be credited towards the Premium. 

Within 60 days from the execution of this Contract, i.e. prior to April 18th, 2006, Party B shall pay Shanghai Housing and Land Resources
Administration Bureau the balance of the Premium, RMB 8,818,079 (Eight Million Eight Hundred Eighteen Thousand and Seventy-Nine). 
 Article
5 
 Party B shall make full and timely payment of the Premium (including the Deposit) pursuant to the Contract. Should Party B desire to
defer its payment of the Premium, it shall submit a written application to Shanghai Housing and Land Resources Administration Bureau prior to the due date of such payment under the Contract. If such application is approved, Party B shall pay a
penalty of 0.1% of the total deferred payment per day, starting from the due date of such payment under the Contract; if no application is submitted, the application is denied or Party B fails to make a payment on time without justification, Party B
shall pay a penalty of 0.3% of the total deferred payment per day, starting from the due date for such payment under the Contract. 
 Under any
of the following circumstances, Party A is entitled to terminate the Contract and claim compensation for breach; Party B shall have no right to the refund of the Premium. 
 1. Party B fails to make timely or full payments of the Premium by the due dates as stipulated in this Contract, has not applied to Shanghai Housing and Land Resources Administration Bureau for deferral
of the payments and such payments are overdue for over ninety (90) days; 
 2. Party B’s application for deferral of the payments has
been denied and such payments are overdue for over ninety (90) days; 
 3. Party B still fails to make timely or full payments after it
secures the approval for deferral of the payments. 
 Article 6 

Party A agrees to deliver the Land as is to Party B prior to August 31st, 2006. 

Article 7 
 Within 5 days from the
execution of the Contract, Party B shall enter into the Contracting Agreement for Land Requisition and Housing Relocation for 1/1 Land Plot in the Sixtieth Street, Zhuanqiao Township, Minhang District, Shanghai with Party A and the People’s
Government of Wujing Township, Minhang District, Shanghai, pursuant to which agreement Party B shall pay expenses including housing relocation compensation. In the event that Party B fails to make such payment or breaches the Contract in any other
manner, Party A is entitled to terminate this Contract and shall not refund the Premium paid by Party B. 
 Article 8 

After paying off the Premium pursuant to the Contract, Party B shall apply to the Real Restate Department of the Bureau of Housing and Land Administration
of Minhang District, Shanghai, for the initial registration of the land use right in accordance with relevant regulations for real estate registration in Shanghai. 

  
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 Article 9 
 During the Term, Party B shall develop and use the Land pursuant to the Contract and the attached State-owned Land Use Conditions for the 1/1 Land Plot in the Sixtieth Street, Zhuanqiao Township, Minhang
District, Shanghai (the “Land Use Conditions”). In the event that Party B desires to amend the Land Use Conditions, Party B shall obtain approvals required by law, obtain Party A’s consent, execute a supplementary agreement
with Party A, adjust the land grant premium and complete the real estate registration. 
 Article 10 

The People’s Government of Shanghai Municipality reserves the right to adjust the zoning plan with respect to the land plot under the Contract.
During the Term, any re-construction, renovation, and reestablishment of the buildings on the Land pursuant to the Land Use Conditions or any application for renewal upon the expiration of the Term for land use right shall be subject to the then
effective zoning plan. 
 Article 11 
 Party B shall engage in the development and construction in accordance with the land use purpose and the commencement date of the development under the Contract. In the event that the development and
construction have not started after the commencement date as set forth in the Land Use Conditions, the land administration authorities shall levy an idle land fee and may take back the land use right without compensation in accordance with the Real
Estate Administration Law for Urban Areas of the People’s Republic of China, the Administrative Ordinance on Development, Operation and Management of Urban Real Estate and Section 3.2 of the Land Use Conditions. 

Article 12 
 After Party B has made the
full payment of the Premium in accordance with the Contract and obtained the Real Estate Ownership Certificate after it completes the land use right registration, Party B shall have the right to transfer, lease and mortgage the land use right
herein. Party A shall have the right to supervise and inspect the development, utilization, transfer, lease, and mortgage of the Land during the Term. 
 When the land use right and the construction on the Land are transferred for the first time, the investments on the construction of buildings on the Land shall have met the requirements stipulated in
Shanghai Real Estate Transfer Regulations. Party B shall not transfer the land use right or change the name of Grantee or the portion of its investment before such requirements are met. 
 The obligations and rights set forth in this Contract shall be transferred along with the transfer or re-transfer of the land use right. After such transfer, the term of the land use right shall be
reached by subtracting the number of years the Land has been used from the Term specified in the Contract. 
 Article 13 

In the event that Party B, without changing the Grantee’s portion of investment, sets up a development company to develop the Land with the approval
from relevant authorities, Party B shall enter into a supplementary contract with Party A to amend the name of the Grantee. Party B shall have the right to apply for issuance or change of the Real Estate Ownership Certificate and to complete the
real estate registration in the name of the development company. 
 Notwithstanding the foregoing, if other regulations of tendering, listing
and auctioning provided otherwise, such other regulations shall prevail. 

  
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 Article 14 
 Party A shall not take back from Party B the land use right granted during the Term. Nonetheless, under circumstances where Party A desires to take back the land use right before the expiration of the
Term for public interest reasons, Party A shall secure approval in accordance with legal process. With respect to land use right taken back in such manner, Party B shall be compensated based on the balance of the Term, the status of the development
or utilization of the Land, etc. 
 Article 15 
 If Party B desires to continue its use of the Land upon the Term’s expiration, it shall submit a renewal application to Party A at least one year prior to the Term’s expiration. If Party A
agrees to such renewal, Party B shall complete relevant procedures, enter into a contract with Party A for the grant of land use right and pay the land grant premium. If Party B does not apply for renewal or Party B applies for the renewal but the
application is not approved, Party B shall return the land use right to Party A or land administration authorities with competent jurisdiction and complete the registration for cancellation of land use right. 

Article 16 
 In the event that Party A
breaches the contract, Party B may require Party A to cure the breach within specified period. If Party A fails to cure or perform, Party B is entitled to terminate the contract and claim for compensation. 

In the event that Party B breaches the contract, Party A may require Party B to cure the breach within specified period. If Party B fails to cure or
perform, Party A is entitled to terminate the contract and claim for compensation. 
 Article 17 

The Land Use Conditions are an integral part of the Contract and are equally binding. 
 Article 18 
 The execution, interpretation and performance of the Contract and the dispute
resolution in connection therewith shall be governed by the People’s Republic of China laws and the local rules and regulations of Shanghai Municipality. Any dispute arising from the Contract’s performance shall be settled by the
parties’ negotiations; if the parties fail to settle the dispute through negotiation, such dispute shall be litigated at the courts. 

Article 19 
 There are a total of eleven
(11) pages in this Contract and the attached Land Use Conditions, all of which are written in Chinese. If any contractual document is written in both Chinese and other languages, the Chinese version shall prevail. 

The Contract amounts are both spelled out and given as figures. Words shall control in case of conflicts. 

The Contract shall not be modified by handwriting. The Contract is executed in three (3) counterparts, all of which are equally binding. Party A and
Party B shall, respectively, keep one copy. One copy shall be submitted to the real estate registration authorities for land use right registration purposes. 
 Article 20 
 The Contract is entered into in Shanghai, People’s
Republic of China, as of February 15th, 2006.

  
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 Article 21 
 Any unsettled matters relevant to the Contract may be further negotiated by the parties and the agreed-upon provisions thereof shall be attached to this Contract. 

  
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 State-Owned Land Use Conditions for the 1/1 Land Plot in the Sixtieth Street,

 Zhuanqiao Township, Minhang District, Shanghai 
 The State-owned Land Use Conditions for the 1/1 Land Plot in the Sixtieth Street, Zhuanqiao Township, Minhang District, Shanghai (the “Land Use Conditions”), are hereby stipulated as
follows: 
  

	1.	Land Use Conditions 

 Party B’s
development and utilization of the Land shall meet the following requirements. 
 1.1 Purpose of Use: Industrial land. 

1.2 Term of Use of Land: Fifty (50) years, commencing from the date of the Contract. 
 1.3 Plot Ratio: Not bigger than 10,000 square meters per hectare (total floor space shall not exceed 109,808.8 square meters). 
 1.4 Ratio of Green Space to Total Area: No less than 30% and the percentage of accessible public green space is no less than 5% of the total area. 
 1.5 Other relevant planning parameters are subject to No. 21 Document issued by Planning Administration Bureau, Min Hang District, Shanghai [Min Gui Jian (2006) No. 21]. 

1.6 Buildings on the Land must meet the requirements of Shanghai Urban Planning and Administration Technical Requirements. 

 

	2.	Requirements for Urban Construction Administration 

 2.1 Party B shall abide by the relevant national and local regulations with respect to the urban construction administration including landscaping, city environment, sanitation, environment protection,
fire safety, administration and designing of transportation and construction which are related to the construction on the Land. 
 2.2 Party B
shall allow the government to pass and cross the Land for the purpose of laying various pipes and lines for public utilities. In case such activities cause damages to buildings thereon or any other attachments, Party B is entitled to claim for
compensation from relevant authorities. 
 2.3 Party B shall ensure the accessibility to the Land by staff members, vehicles and machine and
equipment of government departments responsible for public security, fire safety and medical rescue services during emergencies or as required by their duty. 
 2.4 Party B shall be liable for compensation if its activities on the Land cause damages to the environment or facilities in the surrounding area which in turn result in losses of the State or any
individuals. 
  

	3.	Requirements for Construction Administration 

 3.1 Party B shall commence the construction by January 31, 2007 and complete the construction by January 31, 2010. 
 3.2 If Party B cannot commence the construction as specified in Section 3.1, Party B shall file an application for extension of the construction period with sufficient justification 30 days in
advance. Nevertheless, such extension shall not exceed one year. 
 Unless Party A has agreed to delays in the commencement of construction, the
relevant land administration authorities will charge an idle land fee not more than 20% of the land grant premium if the construction has 

  
 -6-

 
not commenced on the first anniversary of the starting date specified in Section 3.1; the relevant authorities shall take back the use right of the Land and all buildings thereon and
attachments thereto without compensation if the construction has not commenced on the second anniversary of the starting date specified in Section 3.1. Provided, however, the foregoing sentence does not apply to delays caused by force majeure,
acts of relevant government authorities or necessary preparatory work essential to the commencement of the construction. 
 3.3 Party B shall
not occupy any land beyond the boundaries of the Land. Party B must complete necessary procedures with respect to temporary land use if it is necessary to use such land temporarily. Otherwise, Party B shall be punished for illegal use of land.

  

	4.	Calibration and Demarcation 

 4.1 Party A
shall lay the boundary posts at each turning point in the plot according to the redline drawing indicating the coordinates. Party B shall take effective measures to protect such boundary posts. Party B shall promptly report in writing to Party A and
apply for subsequent calibration and demarcation if the boundary posts are moved or damaged. 
 4.2 Party B shall be responsible for expenses
related to subsequent calibration and demarcation as a result of the boundary posts’ missing, being moved or damaged. 
  

	5.	Requirements for Municipal Utilities and Housing Relocation 

 5.1 Party B shall be responsible for municipal utilities for the Land and shall assume the relevant costs. 
 5.2 Party B or its contractors shall timely repair or restore the open drain system, water channel, cables, other pipes and lines and buildings in the vicinity that are damaged by its construction and
shall assume corresponding expenses. 
 5.3 During the Term, Party B shall properly maintain and prevent from damages the municipal public
utilities on the Land (including land subsidence monitoring facilities). Party B shall be responsible for the entire repair and restoring costs should there be any damage. 
 5.4 The user of adjacent land shall be jointly responsible for the construction and maintenance of the common paths and facilities and shall share the cost and expenses in connection therewith.

  

	6.	Requirements for Transfer, Lease and Mortgage of Land Use Right 

 6.1 The land use right herein cannot be transferred or leased unless the development and utilization of the Land have complied with the Contract and the Land Use Conditions. 

6.2 The use right of the Land along with buildings thereon can be transferred according to the applicable laws after the requirements set forth in
Article 12 of the Contract have been satisfied. 
 6.3 The land use right herein can be mortgaged pursuant to the applicable laws and
regulations and Shanghai Real Estate Mortgage Rules. Prior to the completion of the buildings on the Land, the mortgage loan must be used for the development and construction of the Land. When such land use right is mortgaged, the buildings on the
Land and attachments thereto shall also be mortgaged. 
 6.4 The activities related to the buildings, including presale, sale, lease and
donation, shall be conducted pursuant to the applicable laws and regulations, Shanghai Real Estate Registration Regulations, Shanghai Real Estate Transfer Regulations, Shanghai Housing Leasing Regulations, and relevant rules of Shanghai Housing and
Land Resources Administration Bureau. 

  
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	7.	Requirements for Maintenance, Repair, Renovation and Reconstruction 

 7.1 During the Term, Party B shall ensure that all the existing buildings and the buildings to be constructed on the Land and their attached facilities are in good and usable conditions, and shall assume
all the related expenses. 
 7.2 During the Term, Party B may not demolish, renovate or reconstruct the public facilities and
buildings on the Land without Party A’s approval. 

  
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