Document:

Founder's 2008 Equity and Performance Incentive Plan

 Exhibit 10.2 

May, 2008 

Founder’s 2008 Equity and Performance Incentive Plan 

 

	1.	Purpose. The purpose of the Founder’s 2008 Equity and Performance Incentive Plan (the “Plan”) is to attract, motivate and retain
employees, non-employee directors, officers and consultants of the Company (as defined below) and its Subsidiaries; to provide to such persons incentives to stay with the Company and make contributions to the Company in the future; to demonstrate
management continuity to potential investors; and to provide long-term compensation that is competitive with similarly-situated companies; 

  

	2.	Definitions. As used in this Plan, 

  

	 	(a)	“Applicable Law” means the legal requirements relating to the Plan and the Awards under applicable provisions of the corporate and securities laws of the
Cayman Islands, the PRC tax laws, rules, regulations and government orders, the rules of any applicable Share exchange or national market system, and the laws and the rules of any jurisdiction applicable to Awards granted to residents therein.

  

	 	(b)	“Award” means any award under this Plan, including any award of Restricted Share Units. 

 

	 	(c)	“Cause” means, with respect any employee, any of the reasons which would allow the Company to terminate an employee for “cause” as provided for in
his or her employment agreement, including, but not limited to, if i) the employee has been proven unable to satisfy the requirements or working standards of the Company during the employee’s probation period; ii) the employee has engaged in
any competitive, fraudulent, or any other dishonest behavior against the Company, whether or not such behavior has caused actual economic damage to the Company; iii) the employee has seriously breached the rules of employment of the Company; iv) the
employee has been seriously derelict in duties or engaged in misconducts, causing material harm to the interests of the Company; v) the employee has been charged with a criminal offense, or punished with detention or rehabilitation through labor for
his or her violation of Applicable Law; or vi) the employee violates his or her noncompete or confidentiality obligations or duties specified in his or her employment contract. With respect to any non-employee Participant, to the extent
“cause” is not defined in the Participant's agreement or understanding between the Company or any Subsidiary (i) any willful, material violation by the Participant of any law or regulation applicable to the business of the Company or
a Subsidiary, (ii) the Participant’s commission of an act of personal dishonesty which involves personal profit in connection with the Company or any other entity having a business relationship with the Company, (iii) any material
breach by the Participant of any provision of any agreement or understanding between the Company or any Subsidiary and the Participant regarding the terms of the Participant’s service as a non-employee director, officer or consultant to the
Company or a Subsidiary, other than as a result of having a Disability, or a breach of any applicable invention assignment and confidentiality agreement or similar agreement between the Company or a Subsidiary and the Participant,
(iv) Participant’s disregard of the policies of the Company or any Subsidiary so as to cause loss, damage or injury to the property, reputation or employees of the Company or a Subsidiary, or (v) any other misconduct by the
Participant which is materially injurious to the financial condition or business reputation of, or is otherwise materially injurious to, the Company or a Subsidiary. 

 

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	 	(d)	“Change of Control” means, except as may be otherwise prescribed by the Founder in an Evidence of Award, if at any time any of the following events shall have
occurred: 

 (i) The stockholders approve a sale of the Company for cash consideration. 

(ii) The Company is merged or consolidated or reorganized into or with another corporation or other legal person, and as a
result of such merger, consolidation or reorganization the Company’s original shareholders prior to the Series A investment of TPG cease to own, collectively with their affiliates, the largest percentage of the outstanding securities of the
Company; 
 (iii) The Company sells or otherwise transfers all or substantially all of its assets to any other
corporation (other than a Subsidiary) or other legal person, and as a result of such sale or transfer, the Company's original shareholders prior to the Series A investment of TPG cease to own, collectively with their affiliates, the largest
percentage of the outstanding securities of the Company; or 
 (iv) The stockholders of the Company approve a
plan of complete liquidation or dissolution of the Company. 
  

	 	(e)	“Company” means ShangPharma Corporation, a company organized and existing under the laws of the Cayman Islands, or any successor corporation thereto.

  

	 	(f)	“Date of Grant” means the date specified by the Founder on which a grant or sale of Restricted Share Units will become effective. 

 

	 	(g)	“Disability” means the inability of the Participant, in the opinion of a qualified physician acceptable to the Company, to perform the major duties of the
Participant's position with the Company or any Subsidiary because of the sickness or injury of the Participant. 

  

	 	(h)	“Evidence of Award” means an agreement, certificate, resolution or other type or form of writing or other evidence approved by the Founder that sets forth the
terms and conditions of the awards granted. 

  

	 	(i)	“Fair Market Value” means, as of any particular date, the fair market value of one Share of the Company as determined by the Founder, in its discretion, if
such determination is expressly allocated to the Company herein, subject to the following: 

 (i)
If, on such date, the Share is listed on a national or other regulated securities exchange or market system, the Fair Market Value of a Share shall be the closing price of a Share (or the mean of the closing bid and asked prices of a Share if the
Share is so quoted instead) as quoted on the national or regional securities exchange or market system constituting the primary market for the Shares, as reported in such source as the Founder deems reliable. If the relevant date does not fall on a
day on which the Share has traded on such securities exchange or market system, the date on which the Fair Market Value shall be established shall be the last day on which the Share was so traded prior to the relevant date, or such other appropriate
day as shall be determined by the Founder, in its discretion. 
  

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 (ii) If, on such date, the Share is not listed on a national or regional
securities exchange or market system, the Fair Market Value of a Share shall be as determined by the Founder in good faith without regard to any restriction other than a restriction which, by its terms, will never lapse. 

 

	 	(j)	“Founder” means ChemPartner Investment Holdings and ChemExplorer Investment Holdings, both entities incorporated in the British Virgin Islands.

  

	 	(k)	“Participant” means a person who is selected by the Founder to receive benefits under this Plan and who is at the time an employee, non-employee director,
officer or consultant of the Company or any one or more of its Subsidiaries, or who has agreed to commence serving in any of such capacities within 90 days of the Date of Grant. The term "Participant" shall also include any person who provides
services to the Company or a Subsidiary that are equivalent to those typically provided by an employee. 

  

	 	(l)	“PRC” means the People’s Republic of China. 

  

	 	(m)	“Restriction Period” shall have the meaning given to such term in the Evidence of Award for Restricted Share Units. 

 

	 	(n)	“Restricted Share Units” means an award made pursuant to Section 4 of this Plan of the right to receive Shares at the end of a specified Restriction
Period. 

  

	 	(o)	“Shares” means the ordinary shares of the Company, or any security into which such Shares may be changed by reason of any transaction or event of the type
referred to in Section 6 of this Plan. 

  

	 	(p)	“Subsidiary” means a corporation, company or other entity (i) more than 50 percent of whose outstanding shares or securities (representing the right to
vote for the election of directors or other managing authority) are, or (ii) which does not have outstanding shares or securities (as may be the case in a partnership, joint venture or unincorporated association), but more than 50 percent of
whose ownership interest representing the right generally to make decisions for such other entity is, now or hereafter, owned or controlled, directly or indirectly, by the Company. 

 

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	 	(q)	“Termination” or “Terminated” means, for purposes of this Plan with respect to a Participant, which the Participant has for any reason, ceased to
provide services as an employee, non-employee director, officer and consultant of the Company or a Subsidiary. A Participant will not be deemed to have ceased to provide services in the case of sick leave, military leave or any other leave of
absence approved by the Company, provided that such leave is for a period of not more than 90 days (a) unless reinstatement upon the expiration of such leave is guaranteed by contract or statute, or (b) unless provided otherwise pursuant
to formal policy adopted from time to time by the Company’s Board and issued and promulgated in writing. In the case of any Participant on sick leave, military leave or an approved leave of absence, the Founder may make such provisions
respecting suspension of vesting of the Award while on leave from the Company or a Subsidiary as it may deem appropriate. The Founder will have sole discretion to determine whether a Participant has ceased to provide services and the effective date
on which the Participant ceased to provide services (the “Termination Date”). 

  

	 	(r)	“TPG” means TPG Star Charisma Ltd. And TPG Biotech II Charisma Ltd. 

 

	3.	Shares Available Under the Plan. 

  

	 	(a)	Subject to adjustment as provided in Section 6 of this Plan, the number of Shares that may be issued or transferred upon conversion of Restricted Share Units into
Shares shall not exceed in the aggregate 20,000,000 Shares. In addition to the Shares authorized by the preceding sentence, to the extent any award under this Plan otherwise terminates without the issuance of some or all of the Shares underlying the
award to a Participant, the Shares underlying such Award, to the extent of any such forfeiture or termination, shall be available for future grant under this Plan and credited toward the Plan limit. Subject to Section 11(a), the Founder may, at
any time, increase or reduce the number of Shares subject to this Plan, but not below the number of Shares then issuable upon outstanding, unvested Restricted Share Units. 

 

	 	(b)	The total number of Shares available under this Plan as of a given date shall not be reduced by any Shares relating to prior awards that have expired or have been
forfeited or cancelled. Notwithstanding anything to the contrary contained herein the number of Shares withheld by the Company to satisfy any tax withholding obligation shall reduce the aggregate plan limit described above. 

 

	 	(c)	Upon payment in cash of a benefit provided by any Award granted under this Plan, any Shares that were covered by that Award shall again be available for issue or
transfer hereunder. 

  

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	4.	Restricted Share Units. The Founder may authorize the granting or sale of Restricted Share Units to Participants. Each such grant or sale may utilize any
or all of the authorizations, and shall be subject to all of the requirements contained in the Evidence of Award and in the following provisions: 

  

	 	(a)	Each such grant or sale of Restricted Share Units shall constitute the agreement by the Founder to deliver Shares to the Participant in the future in consideration of
the performance of services, but subject to the fulfillment of such conditions during the Restriction Period contained in the Evidence of Award and as the Founder may specify. 

 

	 	(b)	Each such grant or sale may be made without additional consideration or in consideration of a payment by such Participant that is less than the Fair Market Value of the
Shares at the Date of Grant. 

  

	 	(c)	Each grant will specify whether the Restricted Shares Units will be payable at the end of the Restriction Period by the actual transfer to the Participant of Shares, or
by some alternative method of payment. 

  

	 	(d)	Any grant of Restricted Share Units may specify management objectives that, must be achieved as a condition to the Restricted Share Units vesting.

  

	 	(e)	Each grant or sale of Restricted Share Units shall be evidenced by an Evidence of Award and shall contain such terms and provisions, consistent with this Plan, as the
Founder may approve. 

  

	5.	Transferability. Except as otherwise determined by the Founder, no Award granted under this Plan shall be transferable by a Participant other than by will or the
laws of descent and distribution. Except as otherwise determined by the Founder and permitted by Applicable Law, Grant shall be exercisable during the Participant’s lifetime only by him or her or by his or her guardian or legal representative.

  

	6.	Adjustments. The Founder shall make or provide for such adjustments in the number of Shares covered by outstanding Restricted Share Units granted hereunder, as
the Founder, in its sole discretion, exercised in good faith, may determine is equitably required to prevent dilution or enlargement of the rights of Participants that otherwise would result from (a) any share dividend, share split, combination
of shares, recapitalization or other change in the capital structure of the Company, (b) any merger, consolidation, spin-off, split-off, spin-out, split-up, reorganization, partial or complete liquidation or other distribution of assets,
issuance of rights or warrants to purchase securities, or (c) any other corporate transaction or event having an effect similar to any of the foregoing. Moreover, in the event of any such transaction or event, the Founder, in its discretion,
may provide in substitution for any or all outstanding Awards under this Plan such alternative consideration as it, in good faith, may determine to be equitable in the circumstances and may require in connection therewith the surrender of all Awards
so replaced. The Founder shall also make or provide for such adjustments in the number of Shares specified in Section 3 of this Plan as the Founder in its sole discretion, exercised in good faith, may determine is appropriate to reflect any
transaction or event described in this Section 6. 

  

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	7.	Fractional Shares. The Founder shall not be required to issue any fractional Shares pursuant to this Plan. The Founder may provide for the elimination of
fractions or for the settlement of fractions in cash. 

  

	8.	Withholding Taxes. The Founder shall have the power to withhold, or require a Participant to remit to the Founder or to the Company, an amount sufficient to
satisfy all applicable withholding requirements on any Award under the Plan, and the Founder may defer issuance of Shares until such requirements are satisfied. The Founder may, in its discretion, permit a Participant to elect, subject to such
conditions as the Founder shall impose, (i) to have Shares otherwise issuable under the Plan withheld by the Founder or (ii) to deliver to the Founder previously acquired Shares, in each case having a Fair Market Value sufficient to
satisfy all or part of the Participant's estimated total tax obligation associated with the transaction. 

  

	9.	Multiple Jurisdictions. In order to facilitate the making of any grant under this Plan, the Founder may provide for such special terms for Awards to Participants
who are employed by the Company or any of its Subsidiaries in any particular jurisdiction other than the PRC, or who are nationals of any particular jurisdiction other than the PRC, as the Founder may consider necessary or appropriate to accommodate
differences in local law, tax policy or custom. In addition, the Founder may approve such supplements to or restatements or alternative versions of this Plan, including, without limitation, a sub-plan to this Plan, as it may consider necessary or
appropriate for such purposes, without thereby affecting the terms of this Plan as in effect for any other purpose, and the Founder may certify any such document as having been approved and adopted in the same manner as this Plan. No such special
terms, supplements or restatements, however, shall include any provisions that are inconsistent with the terms of this Plan as then in effect unless this Plan could have been amended to eliminate such inconsistency without further approval by the
Founder. 

  

	10.	Administration of the Plan. 

  

	 	(a)	This Plan will be administered by the Founder, which may from time to time delegate all or any part of its authority under this Plan to the Company (or a subcommittee
thereof), as constituted from time to time. To the extent permitted by law, the Founder may otherwise delegate any of its authority under the Plan to any person or persons. To the extent of any such delegation, references in this Plan to the Founder
will be deemed to be references to such designee. 

  

	 	(b)	The interpretation and construction by the Founder of any provision of this Plan or of any agreement, notification or document evidencing the grant or Restricted Share
Units and any determination by the Founder pursuant to any provision of this Plan or of any such agreement, notification or document will be final and conclusive. No member of the Founder will be liable for any such action or determination made in
good faith. 

  

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	11.	Amendments and Miscellaneous. 

  

	 	(a)	The Founder may at any time and from time to time amend the Plan in whole or in part; provided, however, that any amendment which must be approved by the
Company or the shareholders of the Company will not be effective unless and until such approval has been obtained. 

  

	 	(b)	The Founder also may permit Participants to elect to defer the issuance of Shares or the settlement of Awards in cash under the Plan pursuant to such rules, procedures
or programs as it may establish for purposes of this Plan. The Founder also may provide that deferred issuances and settlements include the payment or crediting of dividend equivalents or interest on the deferral amounts. 

 

	 	(c)	The Founder may condition the grant of any Award or combination of Awards authorized under this Plan on the surrender or deferral by the Participant of his or her right
to receive a cash bonus or other compensation otherwise payable by the Company or a Subsidiary to the Participant. 

  

	 	(d)	Shares issued under the Plan may be subject to a right of first refusal, one or more repurchase options, or other conditions and restrictions as determined by the
Founder in its discretion at the time the Award is granted. The Founder shall have the right to assign at any time any repurchase right it may have, whether or not such right is then exercisable, to one or more persons as may be selected by the
Founder. Upon request by the Founder, each Participant shall execute any agreement evidencing such transfer restrictions prior to the receipt of Shares hereunder and shall promptly present to the Founder any and all certificates representing Shares
acquired hereunder for the placement on such certificates of appropriate legends evidencing any such transfer restrictions. 

  

	 	(e)	RSU Awards may be subject to accelerated vesting and conversion into Shares, as applicable, as determined by the Founder, in its sole discretion, or upon a Change of
Control, or public offering of the shares on a national securities exchange or other regulated market system, as provided in the evidence of Award. 

  

	 	(f)	This Plan shall not confer upon any Participant any right with respect to employment or other service with the Company or any Subsidiary (including, without limitation,
continuation of employment), nor shall it interfere in any way with any right the Company or any Subsidiary would otherwise have to terminate such Participant’s employment or other service at any time, with or without Cause.

  

	 	(g)	The terms of employment of an employee shall not be affected by the execution of this Plan. Awards granted under this Plan shall not form a part of the terms of
employment of an employee or entitle such employee to take into account Awards granted under this Plan when calculating any compensation or damages upon Termination of such employee’s employment for any reason. 

 

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	 	(h)	This Plan shall be effective immediately upon its adoption by the Founder. All Awards under this Plan shall be null and void if the Plan is not approved by the
shareholders within such 12-month period. 

  

	12.	Governing Law. The Plan and all grants and Awards and actions taken thereunder shall be governed by and construed in accordance with the internal substantive
laws of the Cayman Islands. 

  

	13.	Compliance with Law. The grant of Awards and the issuance of Shares in connection with such Awards under this Plan shall be subject to compliance with all
applicable requirements of the laws of the PRC, the laws of the Cayman Islands, and all other Applicable Laws with respect to the issuance of securities. Restricted Share Units may not be paid out if the issuance of Shares would constitute a
violation of any Applicable Laws or the requirements of any stock exchange or market system upon which the Shares may then be listed. The inability of the Company or Founder to obtain from any regulatory body having jurisdiction the authority, if
any, deemed by the Company’s or the Founder’s legal counsel to be necessary to the lawful issuance and sale of any Shares hereunder shall relieve the Founder of any liability in respect of the failure to transfer such shares as to which
such requisite authority shall not have been obtained. As a condition to payment of Restricted Share Units, the Founder may require the Participant to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any
Applicable Law and to make any representation or warranty with respect thereto as may be requested by the Founder. 

  

	14.	Termination. No grant will be made under this Plan more than 10 years after the date on which this Plan is first approved by the Founder, but all grants made on
or prior to such date will continue in effect thereafter subject to the terms thereof and of this Plan. 

  

 - 8 -Form of Indemnification Agreement

 Exhibit 10.3 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (the “Agreement”) is entered into as of
                    , 2010 by and between ShangPharma Corporation, a company incorporated and existing under the laws of the Cayman Islands
(the “Company”), and the undersigned, a director and/or officer of the Company (“Indemnitee”). 
 RECITALS

 1. The Company recognizes that highly competent persons are becoming more reluctant to serve corporations as directors or
in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against risks of claims and actions against them arising out of their services to the corporation. 

2. The Board of Directors of the Company (the “Board”) 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 Company. 
 3. The Company is willing to indemnify Indemnitee to the fullest extent
permitted by applicable law, and Indemnitee is willing to serve and continue to serve the Company on the condition that he or she be so indemnified. 

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 damages, judgments, fines, penalties, settlements and
costs, attorneys’ fees and disbursements and costs of attachment or similar bond, investigations, and any 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 (as hereinafter defined). 
 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 of the Company or an officer of the Company or any of its subsidiaries, 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. 

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 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, including,
without limitation, any threatened, pending or completed action, suit or proceeding by or in the right of the Company. 
  

	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 contrary, 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, Indemnitee shall be indemnified against all Expenses incurred in connection with such Proceeding or
such claim, issue or matter, as the case may be, offset by the amount of cash, if any, received by Indemnitee resulting from his/her success therein. 

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 Indemnitee for the portion of such Expenses to which Indemnitee is entitled. 

4. Exclusions. Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not be entitled to indemnification
under this Agreement: 
 (a) to the extent that payment is actually made to Indemnitee under a valid, enforceable and
collectible insurance policy; 
 (b) to the extent that Indemnitee is indemnified and actually paid other than pursuant to this
Agreement; 
 (c) in connection with a judicial action by or in the right of the Company, in respect of any claim, issue or
matter as to which Indemnitee shall have been adjudicated by final judgment in a court of law to be liable for intentional misconduct in the performance of his/her duty to the Company unless and only to the extent that any court in which such action
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 indemnity for such Expenses as such court shall deem proper;

 (d) in connection with any Proceeding initiated by Indemnitee against the Company, any director or officer of the Company or
any other party, and not by way of defense, unless (i) the Company has joined in or the Reviewing Party (as hereinafter defined) has consented to the initiation of such Proceeding; or (ii) the Proceeding is one to enforce indemnification
rights under this Agreement or any applicable law; 
  

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 (e) for a disgorgement of profits made from the purchase and sale by the Indemnitee of
securities pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of any applicable U.S. state statutory law or common law; 

(f) brought about by the dishonesty or fraud of Indemnitee seeking payment hereunder; provided, however, that Indemnitee
shall be protected under this Agreement as to any claims upon which suit may be brought against him/her by reason of any alleged dishonesty on his/her part, unless a judgment or other final adjudication thereof adverse to Indemnitee establishes that
he/she committed (i) acts of active and deliberate dishonesty, (ii) with actual dishonest purpose and intent, and (iii) which acts were material to the cause of action so adjudicated; 

(g) for any judgment, fine or penalty which the Company is prohibited by applicable law from paying as indemnity; 

(h) arising out of Indemnitee’s personal tax matter; or 

(i) arising out of Indemnitee’s breach of an employment agreement with the Company (if any) or any other agreement with the Company
or any of its subsidiaries. 
 5. No Employment Rights. Nothing in this Agreement is intended to create in Indemnitee any
right to continued employment with the Company. 
 6. 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 above, 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 Indemnitee on the other hand from the transaction from which such Proceeding arose, and (ii) the relative
fault of the Company on the one hand and of 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
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. The Company
agrees that it would not be just and equitable if contribution pursuant to this Section B.6 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. Notice to the Company shall be given in accordance with Section F.7 below. In addition, Indemnitee shall give the Company such information and cooperation as the Company may reasonably
request. 
  

 3 

 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 by Indemnitee in connection with a Proceeding. The Company shall, within ten (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 as soon as practicable after Indemnitee makes a written request to the Company for reimbursement. 

(c) Determination by the Reviewing Party. Notwithstanding anything foregoing to the contrary, in the event the Reviewing Party (as
hereinafter defined) 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 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, Indemnitee shall have the right to enforce his/her 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 breach in any aspect of this Agreement. Any determination by the Reviewing Party not challenged by Indemnitee and any final judgment entered by the court
shall be binding on the Company and Indemnitee. 
 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. 
  

 4 

 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. Neither the failure of
the Reviewing Party or the Company to have made a determination prior to the commencement of such action by Indemnitee that indemnification is proper under the circumstances because Indemnitee has met the standard of conduct set forth in applicable
law, nor an actual determination by the Reviewing Party or the Company that Indemnitee had not met such applicable standard of conduct shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of
conduct. 
 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.6, 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. 

8. Reviewing Party. 

(a) For purposes of this Agreement, the “Reviewing Party” with respect to each indemnification request of Indemnitee
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, Independent Counsel (as hereinafter defined) in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee; and, if it is determined that Indemnitee is
entitled to indemnification, payment to Indemnitee shall be made within ten (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 to the extent as aforesaid. “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. 
  

 5 

 (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
Board of Directors by a majority vote of a quorum consisting of Disinterested Directors shall select), 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 the determination of entitlement to indemnification is to be made by Independent Counsel, but within 20
days after submission by Indemnitee of a written request for indemnification, no Independent Counsel shall have been selected and not objected to, then the Board of Directors by a majority vote shall select the 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. 
 (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 nolo contendere 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 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 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 Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. 

 

 6 

 (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 (5) 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 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. 
  

	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, (ii) the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or (iii) Indemnitee is
covered by similar insurance maintained by a parent, subsidiary of the Company. 
  

	E.	NON-EXCLUSIVITY; 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 Articles of Association, applicable law or any written agreement between Indemnitee and the Company (including its subsidiaries). 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. 

 

 7 

 2. 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. Indemnitee acknowledges that the U.S.
Securities and Exchange Commission (the “SEC”) believes that indemnification for liabilities arising under the federal securities laws is against public policy and is, therefore, unenforceable and 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. 

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 former or current capacity at the Company or any other enterprise at the Company’s request, 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 as
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. 
  

 8 

 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 counsel 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. 
 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 hereunder shall be governed, construed and interpreted in accordance with the laws of the State of New York, U.S.A., 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, postage prepaid, certified or registered mail, return receipt requested, and addressed to the
Company at: 
 ShangPharma Corporation 

No. 5 Building, 998 Halei Road 

Zhangjiang Hi-Tech Park Pudong New Area 

Shanghai, 201203 

The People’s Republic of China 

Attn: Chief Operating Officer 

and to Indemnitee at: 

the address set forth on Annex A hereto. 

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.

  

			
	COMPANY
	
	SHANGPHARMA CORPORATION
		
	By:	 	  

	Name:
	Title:
	
	INDEMNITEE
	
	  

	Name:

 Annex A 

 

			
	Name and Business Address
	  

	  

	  

	  

	Attn:	 	  

	Tel:	 	  

	Fax:	 	  

	Email:

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