Document:

Exhibit 10.22

 

STOCK PURCHASE AGREEMENT

 

STOCK PURCHASE AGREEMENT, dated as of 10 November, 2014 (this "Agreement"),
by and among Sunrise Real Estate Group, Inc. ("Issuer " and “Company”), having an office and address at Hengfeng
Road, No. 638, Fl 25, Bldg. A, Shanghai, China, and Ace Develop Properties Limited, a company organized under the laws of the British
Virgin Island, having an office and address at P.O. Box 957 Offshore Incorporation Centre, Road Town, Tortola ("Purchaser”).

 

W I T N E S S E T H

 

WHEREAS, the Issuer desires to issue to the Purchaser 20 million
shares of the Company's common stock, $0.01 US par value per share (the "Common Stock"), (the "Shares"), on
the terms and condition set forth in this Stock Purchase Agreement ("Agreement"), and

 

WHEREAS, Purchaser desires to buy the Shares for $0.085 US per share
(the "Purchase Price") for an aggregate of $1,700,000 US (RMB 10,460,000 at exchange rate 6.1529) on the terms and conditions
set forth herein, and

 

NOW THEREFORE, in consideration of the promises and respective mutual
agreements herein contained, it is agreed by and between the parties hereto as follows.

 

ARTICLE 1 

SALE AND PURCHASE OF THE SHARES

 

1.1 Sale of the Shares. Upon the execution of this Agreement, subject
to the terms and conditions herein set forth, on the basis of the representations, warranties and agreements herein contained,
Issuer shall deliver the Shares to Purchaser who shall purchase the Shares from the Issuer.

 

1.2 Instruments of Conveyance and Transfer. At the Closing, Issuer
shall deliver a certificate or certificates representing the Shares to Purchaser, in form and substance satisfactory to Purchaser
("Certificates"), as shall be effective to vest in Purchaser all right, title and interest in and to all of the Shares.

 

1.3 Consideration and Payment for the Shares. In consideration for
the Shares, Purchaser shall pay to the Issuer the purchase price of ONE MILLION SEVENTY THOUSAND (1,700,000) Dollars (RMB 10,460,000
at exchange rate 6.1529) in U.S. currency ("Purchase Price"). The Purchase Price shall be payable only upon Closing (as
set forth in Article 7 hereof).

 

ARTICLE 2 

REPRESENTATIONS AND WARRANTIES OF THE ISSUER

 

The Issuer represents and warrants to the Purchaser now and as of
the Closing, the following:

 

2.1 Transfer of Title. Issuer shall transfer title in and to the
Shares to the Purchaser free and clear of all liens, security interests, pledges, encumbrances, charges, restrictions, demands
and claims, of any kind or nature whatsoever, whether direct or indirect or contingent.

 

    	 

    	 

    

 

(a) Due Execution This Agreement has been duly executed and delivered
by the Issuer.

 

(b) Valid Agreement This Agreement constitutes, and upon execution
and delivery thereof by the Issuer, will constitute, a valid and binding agreement of the Issuer enforceable against the Issuer
in accordance with its respective terms.

 

(c) Authorization. The execution, delivery and performance by the
Issuer of this Agreement and the delivery by the Issuer of the Shares have been duly and validly authorized and no further consent
or authorization of the Issuer or another is required.

 

(d) Issuer's Title to Shares; No Liens or Preemptive Rights; Valid
Issuance. Issuer has and at the Closing will have full and valid title, possession and control of the Shares; there is and will
be no existing impediment or encumbrance to the sale and transfer of such Shares to the Purchaser; and on delivery to the Purchaser
of the Shares, all of the Shares will be free and clear of all taxes, liens, encumbrances, charges or assessments of any kind and
shall not be subject to preemptive rights, tag-along rights, or similar rights of any of the stockholders of the Company. Such
Shares are and will be legally and validly issued in material compliance with all applicable U.S. federal and state securities
laws, and will be fully paid and non-assessable shares of the Company's common stock; and the Shares have all been issued under
duly authorized resolutions of the Board of Directors of the Company. At the Closing, Issuer shall deliver to the Purchaser certificates
representing the Shares subject to no liens, security interests, pledges, encumbrances, charges, restrictions, demands or claims
in any other party whatsoever.

 

2.2 No Governmental Action Required. The execution and delivery
by the Issuer of this Agreement does not and will not, and the consummation of the transactions contemplated hereby will not, require
any action by or in respect of, or filing with, any governmental body, agency or governmental official, including but not limited
to the Securities and Exchange Commission ("Commission") and the Financial Industry Regulatory Authority ("FINRA"),
except such actions or filings that have been undertaken or made prior to the date hereof and that will be in full force and effect
(or as to which all applicable waiting periods have expired) on and as of the date hereof or which are not required to be filed
on or prior to the date of Closing.

 

2.3 Compliance with Applicable Law and Corporate Documents. The
execution and delivery by the Issuer of this Agreement does not and will not and, the sale by the Issuer of the Shares does not
and will not contravene or constitute a default under or violation of (i) any provision of applicable law or regulation, (ii) the
articles of incorporation or by-laws of the Issuer, or (iii) any agreement, judgment, injunction, order, decree or other instrument
binding upon the Issuer or any its assets, or result in the creation or imposition of any lien on any asset of the Issuer. The
Issuer is in compliance with and conforms to all statutes, laws, ordinances, rules, regulations, orders, restrictions and all other
legal requirements of any domestic or foreign government or any instrumentality thereof having jurisdiction over the conduct of
their businesses or the ownership of their properties.

 

2.4 Due Diligence Materials. The information heretofore furnished
by the Issuer to the Purchaser for purposes of or in connection with this Agreement or any transaction contemplated hereby does
not, and all such information hereafter furnished by the Issuer to the Purchaser will not (in each case taken together and on the
date as of which such information is furnished), contain any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements contained therein, in the light of the circumstances under which they are made, not misleading.

 

2.5 Not a Voting Trust: No Proxies. None of the Shares are or will
be subject to any voting trust or agreement. No person holds or has the right to receive any proxy or similar instrument with respect
to the Shares. Except as provided in this Agreement, the Issuer is not a party to any agreement which offers or grants to any person
the right to purchase or acquire any of the Shares. There is no applicable local, state or federal law, rule, regulation, or decree
which would, as a result of the sale contemplated by this Agreement, impair, restrict or delay any voting rights with respect to
the Shares.

 

2.6 Survival of Representations. The representations and warranties
herein by the Issuer will be true and correct in all material respects on and as of the Closing with the same force and effect
as though said representations and warranties had been made on and as of the Closing and will, except, provided herein, survive
the Closing.

 

    	 

    	 

    

 

2.7 No Solicitation. No form of general solicitation or general
advertising was used by the Issuer or, to the best of its actual knowledge, any other person acting on behalf of the Issuer, in
connection with the offer and sale of the Shares. Neither the Issuer, nor, to its knowledge, any person acting on behalf of the
Issuer, have, either directly or indirectly, sold or offered for sale to any person (other than the Purchaser) any of the Shares,
and the Issuer represent that they will not, nor will any person authorized to act on its behalf (except that the Issuer makes
no representation as to the Purchaser) sell or offer for sale any such security to, or solicit any offers to buy any such security
from, or otherwise approach or negotiate in respect thereof with, any person or persons so as thereby to cause the issuance or
sale of any of the Shares to be in violation of any of the provisions of Section 5 of the Securities Act of 1933, as amended or
any other provision of federal or state law.

 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents and warrants to the Purchaser now and at
the Closing, the following:

 

3.1 Due Organization. The Company is a corporation duly organized,
validly existing and in good standing under the laws of the State of Texas (a) with full power and authority to own, lease, use,
and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted. The Company
has no subsidiaries. The Company is duly qualified to conduct business as a foreign corporation and is in good standing in every
jurisdiction in which the nature of the business conducted by it makes such qualification necessary, and (b) all actions taken
by the current directors and stockholders of the Company have been valid and in accordance with the laws of the State of Texas.

 

3.2 (a) Company Authority. The Company has all requisite corporate
power and authority to enter into and perform this Agreement.

 

(b) Due Authorization. The execution, delivery
and performance by the Company of this Agreement has been duly and validly authorized and no further consent or authorization of
the Company, its Board of Directors or its stockholders is required.

 

(c) Valid Execution. This Agreement has been
duly executed and delivered by the Company.

 

(d) Binding Agreement. This Agreement constitutes,
and upon execution and delivery thereof by the Company, will constitute, a valid and binding agreement of the Company, enforceable
against the Company in accordance with its terms.

 

(e) No Violation of Corporate Documents or Agreements.
The execution and delivery of this Agreement by the Company and the performance by the Company of its obligations hereunder will
not cause, constitute, or conflict with or result in (i) any breach or violation or any of the provisions of or constitute a default
under any license, indenture, mortgage, charter, instrument, articles of incorporation, bylaw, or other agreement or instrument
to which the Company or its stockholders are a party, or by which they may be bound, nor will any consents or authorizations of
any party other than those hereto be required, (ii) an event that would cause the Company to be liable to any party, or (iii) an
event that would result in the creation or imposition or any lien, charge or encumbrance on any asset of the Company or on the
securities of the Company to be acquired by the Purchaser.

 

3.3 Authorized Capital, No Preemptive Rights, No Liens; Anti-Dilution.
As of the date hereof, the authorized capital of the Company is 200,000,000 shares of Common Stock, $0.01 par value. The issued
and outstanding capital stock of the Company is 48,691,925 shares of Common Stock. All of the shares of capital stock are, duly
authorized, validly issued, fully paid and non-assessable. No shares of capital stock of the Company are subject to preemptive
rights or similar rights of the stockholders of the Company or any liens or encumbrances imposed through the actions or failure
to act of the Company, or otherwise. As of the date hereof and at Closing, (i) there are no outstanding options, warrants, convertible
securities, scrip, rights to subscribe for, puts, calls, rights of first refusal, tag-along agreements, nor any other agreements,
understandings, claims or other commitments or rights of any character whatsoever relating to, or securities or rights convertible
into or exchangeable for any shares of capital stock of the Company, or arrangements by which the Company is or may become bound
to issue additional shares of capital stock of the Company, and (ii) there are no agreements or arrangements under which the Company
is obligated to register the sale of any of its securities under the Securities Act and (iii) there are no anti-dilution or price
adjustment provisions contained in any security issued by the Company (or in the Company's articles of incorporation or by-laws
or in any agreement providing rights to security holders) that will be triggered by the transactions contemplated by this Agreement.
The Company has furnished to Purchaser true and correct copies of the Company's articles of incorporation and by-laws.

 

    	 

    	 

    

 

3.4 No Governmental Action Required. The execution and delivery
by the Company of this Agreement does not and will not, and the consummation of the transactions contemplated hereby will not,
require any action by or in respect of, or filing with, any governmental body, agency or governmental official, including but not
limited to, the Commission and FINRA, except such actions or filings that have been undertaken or made prior to the date hereof
and that will be in full force and effect (or as to which all applicable waiting periods have expired) on and as of the date hereof
or which are not required to be filed on or prior to the Closing.

 

3.5 Compliance with Applicable Law and Corporate Documents. The
execution and delivery by the Company of this Agreement does not and will not contravene or constitute a default under or violation
of (i) any provision of applicable law or regulation, (ii) the Company's articles of incorporation or bylaws, or (iii) any agreement,
judgment, injunction, order, decree or other instrument binding upon the Company or any its assets, or result in the creation or
imposition of any lien on any asset of the Company. The Company is in compliance with and conforms to all statutes, laws, ordinances,
rules, regulations, orders, restrictions and all other legal requirements of any domestic or foreign government or any instrumentality
thereof having jurisdiction over the conduct of its businesses or the ownership of its properties.

 

3.6 SEC Representations. Through the date hereof, the Company has
filed all forms, reports and documents with the Commission required to be filed by it ("SEC Reports"). The Company has
delivered and/or made available to Purchaser true and complete copies of the required SEC Reports. Such SEC Reports, at the time
filed, complied in all material respects with the requirements of the federal and state securities laws and the rules and regulations
of the Commission thereunder applicable to such SEC Reports. None of the SEC Reports, including without limitation, any financial
statements or schedules included therein, contains any untrue statement of a material fact or omits to state a material fact necessary
in order to make the statements made, in light of the circumstances under which they were made, not misleading. In connection with
all shares of common stock and other securities issued by the Company from inception to date, the Company has complied with the
registration requirements of the federal Securities Act of 1933 and all applicable state blue sky laws or has relied upon a valid,
applicable exemption from those registration requirements.

 

3.7 Financial Statements. (a) The Purchaser has received a copy
of the unaudited financial statements of the Company for the nine months ended September 30, 2013 and the related statements of
income and retained earnings for the period then ended (the "Financial Statements") that are included in the Company's
Form 10-Q for the quarter ended September 30, 2013 and included in the SEC Reports. The Financial Statements have been prepared
in accordance with generally accepted accounting principles consistently followed by the Company throughout the periods indicated.
Such financial statements fairly present the financial condition of the Company at the dates indicated and its results of its operations
and cash flows for the periods then ended and, except as indicated therein, reflect all claims against, debts and liabilities of
the Company, fixed or contingent, and of whatever nature. Since September 30, 2013 (the "Balance Sheet Date"), there
has been no material adverse change in the assets or liabilities, or in the business or condition, financial or otherwise, or in
the results of operations or prospects, of the Company, whether as a result of any legislative or regulatory change, revocation
of any license or rights to do business, fire, explosion, accident, casualty, labor trouble, flood, drought, riot, storm, condemnation,
act of God, public force or otherwise and no material adverse change in the assets or liabilities, or in the business or condition,
financial or otherwise, or in the results of operation or prospects, of the Company except in the ordinary course of business.

 

3.8 No Litigation. The Company is not a party to any suit, action,
arbitration, or legal, administrative, or other proceeding, or pending governmental investigation which its has not disclosed to
Purchaser. The Company is not subject to or in default with respect to any order, writ, injunction, or decree of any federal, state,
local, or foreign court, department, agency, or instrumentality.

 

3.9 No Taxes. The Company is not liable for any income, sales, withholding,
real or personal property taxes to any governmental agencies whatsoever. All United States federal, state, county, municipality
local or foreign income tax returns and all other material tax returns (including foreign tax returns) which are required to be
filed by or on behalf of the Company have been or will be filed as of the Closing Date and all material taxes due pursuant to such
returns or pursuant to any assessment received by the Company have been or will be paid as of the Closing Date, except those being
disputed in good faith and for which adequate reserves have been established. The charges, accruals and reserves on the books of
the Company in respect of taxes or other governmental charges have been established in accordance with GAAP.

 

    	 

    	 

    

 

3.10 Material Agreements (a) The Company is not currently carrying
on any business and is not a party to any contract, agreement, lease or order which would subject it to any performance or business
obligations or restrictions in the future after the Closing of the transactions contemplated by this Agreement.

 

(b) The Company has no stockholder contracts
or agreements.

 

(c) The Company is not in default under any contract or any
other document.

 

(d) The Company has no outstanding powers of attorney and no obligations
concerning the performance by the Issuer of this Agreement.

 

(e) The Company has all material Permits ("Permits" means
all licenses, franchises, grants, authorizations, permits, easements, variances, exemptions, consents, certificates, orders and
approvals necessary to own, lease and operate the properties, of, and to carry on the business of the Company);

(ii) all such Permits are in full force and effect, and the Company has fulfilled and performed all material obligations with respect
to such Permits;

(iii) no event has occurred which allows, or after notice or lapse of time would allow, revocation or termination by the issuer
thereof or which results in any other material impairment of the rights of the holder of any such Permit, and

(iv) the Company has no reason to believe that any governmental body or agency is considering limiting, suspending or revoking
any such Permit.

 

(f) Neither the Company nor, to the Company's knowledge, any employee
or agent of the Company has made any payments of funds of the Company, or received or retained any funds, in each case in violation
of any law, rule or regulation or of a character required to be disclosed by the Company in any of the SEC Reports.

 

(g) There are no outstanding judgments or Uniform Commercial Code
financing instruments or UCC Securities Interests filed against the Company or any of its properties.

 

3.11 No Liabilities. There are no liabilities of the Company of
any kind whatsoever which has not been disclosed to Purchaser, whether accrued, contingent, absolute, determined, determinable
or otherwise, and there is no existing condition, situation or set of circumstances which could reasonably be expected to result
in such a liability. The Company does not have any debt, liability, or obligation of any nature, whether accrued, absolute, contingent,
or otherwise, and whether due or to become due, that is not reflected on the Company's Financial Statements.

 

3.12 Compliance with Law. To the best of its knowledge, the Company
has complied with, and is not in violation of any provision of laws or regulations of federal, state or local government authorities
and agencies. There are no pending or threatened proceedings against the Company by any federal, state or local government, or
any department, board, agency or other body thereof.

 

3.13 Corporate Documents Effective. The articles of incorporation,
as amended, and the bylaws of the Company, as provided to Purchaser are, or will at Closing be, in full force and effect and all
actions of the Board of Directors or stockholders required to accomplish same have, or will at Closing have been, taken.

 

3.14 No Stockholder Approval Required. The acquisition of the Shares
by Purchaser from Issuer does not require the approval of the stockholders of the Company under the Texas General Corporate Law
("TGCL"), the Company's articles of incorporation or bylaws, or any other requirement of law or, if stockholder approval
is required it has or will, prior to the Closing, be properly obtained in accordance with the requirements of the Company's articles
of incorporation and by-laws and the TGCL.

 

    	 

    	 

    

 

3.15 No Dissenters' Rights. The acquisition of the Shares by Purchaser
from Issuer will not give rise to any dissenting stockholders' rights under the TGCL, the Company's articles of incorporation or
bylaws, or otherwise.

 

3.16 Not Subject to Voting Trust. None of the Shares are or will
be subject to any voting trust or agreement. No person holds or has the right to receive any proxy or similar instrument with respect
to such Shares. The Company is not a party to any agreement that offers or grants to any person the right to purchase or acquire
any of the securities to be issued pursuant to this Agreement. There is no applicable local, state or federal law, rule, regulation,
or decree which would, as a result of the transfer of the Shares to Purchaser, impair, restrict or delay any voting rights with
respect to the Shares.

 

3.17 True Representations. The information heretofore furnished
by the Company to the Purchaser for purposes of or in connection with this Agreement or any transaction contemplated hereby does
not, and all such information hereafter furnished by the Company to the Purchaser will not (in each case taken together and on
the date as of which such information is furnished), contain any untrue statement of a material fact or omit to state a material
fact necessary in order to make the statements contained therein, in the light of the circumstances under which they are made,
not misleading.

 

3.18 Survival. The representations and warranties herein by the
Company will be true and correct in all material respects on and as of the Closing with the same force and effect as though said
representations and warranties had been made on and as of the Closing Time and will, except, as otherwise provided herein, survive
the Closing for a period of three (3) years.

 

ARTICLE 4 

REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

 

Unless specifically stated otherwise, Purchaser represents and warrants
that the following are true and correct as of the date hereof and will be true and correct through the Closing Date as if made
on that date:

 

4.1 Agreement's Validity. This Agreement has been duly executed
and delivered by Purchaser and constitutes legal, valid and binding obligations of Purchaser, enforceable against Purchaser in
accordance with its respective terms, except as may be limited by applicable bankruptcy, insolvency or similar laws affecting creditors'
rights generally or the availability of equitable remedies.

 

4.2 Investment Intent. Purchaser is acquiring the Shares for its
own account for investment and not with a view to, or for sale or other disposition in connection with, any distribution of all
or any part thereof, except (i) in an offering covered by a registration statement filed with the Securities and Exchange Commission
under the Securities Act covering the Shares, or (ii) pursuant to an applicable exemption under the Securities Act.

 

4.3 Restricted Securities. Purchaser understands that the Shares
have not been registered pursuant to the Securities Act or any applicable state securities laws, that the Shares will be characterized
as "restricted securities" under federal securities laws, and that under such laws and applicable regulations the Shares
cannot be sold or otherwise disposed of without registration under the Securities Act or an exemption therefrom. In this connection,
Purchaser represents that it is familiar with Rule 144 promulgated under the Securities Act, as currently in effect, and understands
the resale limitations imposed thereby and by the Securities Act. Stop transfer instructions may be issued to the transfer agent
for securities of the Company (or a notation may be made in the appropriate records of the Company) in connection with the Shares.

 

4.4 Legend. It is agreed and understood by Purchaser that the certificates
representing the Shares shall each conspicuously set forth on the face or back thereof a legend in substantially the following
form:

 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
AS TO THE SECURITIES UNDER SAID ACT OR PURSUANT TO AN EXEMPTION FROM REGISTRATION OR AN OPINION OF COUNSEL SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

    	 

    	 

    

 

4.5 Disclosure of Information. Purchaser acknowledges that it has
been furnished with information regarding the Company and its business, assets, results of operations, and financial condition
to allow Purchaser to make an informed decision regarding an investment in the Shares. Purchaser represents that it has had an
opportunity to ask questions of and receive answers from the Company regarding the Company and its business, assets, results of
operation, and financial condition.

 

ARTICLE 5 

INDEMNIFICATION

 

5.1 Issuer hereby agrees to, indemnify and hold harmless the Purchaser
(which includes, for purposes of this Article, Purchaser's against any losses, joint or several, to which Purchaser may become
subject under the federal securities laws, any state or other federal law, statutory or common law, or otherwise, insofar as such
losses, claims, damages or liabilities (or actions or proceedings, whether commenced or threatened, in respect thereof) arise by
reason of the inaccuracy of any warranty or representation contained in this Agreement, or any omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and Issuer
will in addition reimburse Purchaser and the Company for any legal or any other expenses reasonably incurred by Purchaser in connection
with investigating or defending any such loss, claim, liability, action or proceeding. Such indemnity shall remain in full force
and effect regardless of any investigation made by or on behalf of Purchaser and shall survive the Closing for a period of three
(3) year. As used herein, "Losses" means any loss, claim, demand, damage, award, liabilities, suits, penalties, forfeitures,
cost or expense (including, without limitation, reasonable attorneys', consultant and other professional fees and disbursements
of every kind, nature and description).

 

ARTICLE 6 

COVENANTS

 

6.1 From the date of this Agreement to Closing, the Issuer and the
Company covenant as follows.

 

(a) Company will to the best of its ability preserve intact the
current status of the Company and the trading capacity of the Company as a FINRA Bulletin Board company.

 

(b) The Issuer will furnish Purchaser with whatever
corporate records and documents are available, such as articles of incorporation and bylaws.

 

(c) The Company will not amend or change its articles of incorporation
or Bylaws, or issue any further shares in the common stock of the Company without the express written consent of its shareholders.

 

ARTICLE 7 

CLOSING AND DELIVERY OF DOCUMENTS

 

7.1 Closing. The Closing shall be held on or before November 28,
2014 (the "Closing Date"). The Closing shall occur as a single integrated transaction, as follows.

 

(a) Delivery by Issuer

 

(i) Issuer shall deliver to the Purchaser such instruments, documents
and certificates as are required to be delivered by Issuer or its representatives pursuant to the provisions of this Agreement.

 

(ii) Issuer shall deliver to Purchaser the share Certificate issued
by the Issuer.

 

(b) Delivery by Purchaser. The Purchaser shall
pay to the Issuer an aggregate of $1,700,000 Dollars (RMB 10,460,000 at exchange rate 6.1529) by wire transfer as instructed by
Issuer.

 

    	 

    	 

    

 

ARTICLE 8 

TERMINATION, AMENDMENT AND WAIVER

 

8.1 Waiver. Any term, provision, covenant, representation, warranty
or condition of this Agreement may be waived, but only by a written instrument signed by the party entitled to the benefits thereof.
The failure or delay of any party at any time or times to require performance of any provision hereof or to exercise its rights
with respect to any provision hereof shall in no manner operate as a waiver of or affect such party's right at a later time to
enforce the same. No waiver by any party of any condition, or of the breach of any term, provision, covenant, representation or
warranty contained in this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing
waiver of any such condition or breach or waiver of any other condition of the breach of any other term, provision, covenant, representation
or warranty. No modification or amendment of this Agreement shall be valid and binding unless it be in writing and signed by all
parties hereto.

 

8.2 Termination by Purchaser. Notwithstanding anything to the contrary
herein, Purchaser shall have the right, in its sole and absolute discretion, at any time prior to its payment of the Purchase Price,
to terminate this Agreement, in which event, this Agreement shall be terminated and no party shall have any further obligation
to any other party.

 

ARTICLE 9

MISCELLANEOUS

 

9.1 Entire Agreement. This Agreement sets forth the entire agreement
and understanding of the parties hereto with respect to the transactions contemplated hereby, and supersedes all prior agreements,
arrangements and understanding related to the subject matter hereof. No understanding, promise, inducement, statement of intention,
representation, warranty, covenant or condition, written or oral, express or implied, whether by statute or otherwise, has been
made by any party hereto which is not embodied in this Agreement or the written statement, certificates, or other documents delivered
pursuant hereto or in connection with the transactions contemplated hereby, and no party hereto shall be bound by or liable for
any alleged understanding, promise, inducement, statement, representation, warranty, covenant or condition not set forth.

 

9.2 Notices. Any notice or communications hereunder must be in writing
and given by depositing same in the United States mail addressed to the party to be notified, postage prepaid and registered or
certified mail with return receipt requested or by delivering same in person. Such notices shall be deemed to have been received
on the date on which it is hand delivered or on the third business day following the date on which it is to be mailed. For purpose
of giving notice, the addresses of the parties shall be:

 

If to Issuer: 

Sunrise Real Estate Group, Inc.

No.638, Hengfeng Road

Shanghai, China, PRC

Tel: +86-21-6422-2185

Fax: +86-21-6422-8337

 

If to Purchaser to: 

Lin Chi Jung.

No.638, Hengfeng Road

Shanghai, China, PRC

Tel: +86-21-6422-2185

Fax: +86-21-6422-8337

 

    	 

    	 

    

 

9.3 Governing Law. This Agreement shall be governed in all respects,
including validity, construction, interpretation and effect, by the laws of the State of Texas (without regard to principles of
conflicts of law). Each of the parties hereto agrees to submit to the exclusive jurisdiction of any federal or state court within
the County of Dallas, with respect to any claim or cause of action arising under or relating to this Agreement. The parties agree
that any service of process to be made hereunder may be made by certified mail, return receipt requested, addressed to the party
at the address appearing in Section 9.2, together with a copy to be delivered to such party's attorneys via telecopier (if provided
in Section 9.2). Such service shall be deemed to be completed when mailed and sent and received by telecopier. Issuer and Purchaser
each waives any objection based on forum non conveniens. Nothing in this paragraph shall affect the right of Issuer or Purchaser
to serve legal process in any other manner permitted by law.

 

9.4 Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument.

 

9.5 Waivers and Amendments; Non-Contractual Remedies; Preservation
of Remedies. This Agreement may be amended, superseded, canceled, renewed, or extended, and the terms hereof may be waived, only
by a written instrument signed by authorized representatives of the parties or, in the case of a waiver, by an authorized representative
of the party waiving compliance. No such written instrument shall be effective unless it expressly recites that it is intended
to amend, supersede, cancel, renew or extend this Agreement or to waive compliance with one or more of the terms hereof, as the
case may be. No delay on the part of any party in exercising any right, power or privilege shall hereunder shall operate as a waiver
thereof, nor shall any waiver on the part of any party of any such right, power or privilege, or any single or partial exercise
of any such right, power of privilege, preclude any further exercise thereof or the exercise of any other right, power or privilege.
The rights and remedies herein provided are cumulative and are not exclusive of any rights or remedies that any party may otherwise
have at law or in equity. The rights and remedies of any party based upon, arising out of or otherwise in respect of any inaccuracy
in or breach of any representation, warranty, covenant or agreement contained in this Agreement shall in no way be limited by the
fact that the act, omission, occurrence or other state of facts upon which any claim of any such inaccuracy or breach is based
may also be the subject of any other representation, warranty, covenant or agreement contained in this Agreement (or in any other
agreement between the parties) as to which there is no inaccuracy or breach.

 

9.6 Binding Effect; No Assignment, No Third-Party Rights. This Agreement
shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. This Agreement
is not assignable without the prior written consent of each of the parties hereto or by operation of law.

 

9.7 Further Assurances. Each party shall, at the request of the
other party, at any time and from time to time following the Closing promptly execute and deliver, or cause to be executed and
delivered, to such requesting party all such further instruments and take all such further action as may be reasonably necessary
or appropriate to carry out the provisions and intents of this Agreement and of the instruments delivered pursuant to this Agreement.

 

9.8 Severability of Provisions. If any provision or any portion
of any provision of this Agreement or the application of any such provision or any portion thereof to any person or circumstance,
shall be held invalid or unenforceable, the remaining portion of such provision and the remaining provisions of the Agreement,
or the application of such provision or portion of such provision is held invalid or unenforceable to person or circumstances other
than those as to which it is held invalid or unenforceable, shall not be affected thereby and such provision or portion of any
provision as shall have been held invalid or unenforceable shall be deemed limited or modified to the extent necessary to make
it valid and enforceable, in no event shall this Agreement be rendered void or unenforceable.

 

9.9 Exhibits and Schedules. All exhibits annexed hereto, and all
schedules referred to herein, are hereby incorporated in and made a part of this Agreement as if set forth herein. Any matter disclosed
on any schedule referred to herein shall be deemed also to have been disclosed on any other applicable schedule referred to herein.

 

9.10 Captions. All section titles or captions contained in this
Agreement or in any schedule or exhibit annexed hereto or referred to herein, and the table of contents to this Agreement, are
for convenience only, shall not be deemed a part of this Agreement and shall not affect the meaning or interpretation of this Agreement.
All references herein to sections shall be deemed references to such parts of this Agreement, unless the context shall otherwise
require.

 

9.11 Expenses. Except as otherwise expressly provided in this Agreement,
whether or not the Closing occurs, each party hereto shall pay its own expenses incidental to the preparation of this Agreement,
the carrying out of the provisions hereof and the consummation of the transactions contemplated.

 

    	 

    	 

    

 

 

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

 

 

	/s/ Lin, Chi-Jung	 
	Lin, Chi-Jung, CEO	 
	SUNRISE REAL ESTATE GROUP, INC.	 
	 	 
	 	 
	/s/ Lin, Chi- Jung	 
	Lin, Chi-Jung, President, Sole Board of Director and Shareholder
	ACE DEVELOP PROPERTIES LIMITED.EX-10.1

 Exhibit 10.1 

INDEMNIFICATION AGREEMENT 

THIS AGREEMENT (the “Agreement”) is made and entered into as of
            , between Actuate Corporation, a Delaware corporation (the “Company”), and
            (“Indemnitee”). 
 WITNESSETH THAT: 

WHEREAS, Indemnitee performs a valuable Services for the Company; and 

WHEREAS, the Board of Directors of the Company has adopted Bylaws (the “Bylaws”) providing for the indemnification of the officers
and directors of the Company to the maximum extent authorized by Section 145 Of the Delaware General Corporation Law, as amended (“Law”); and 

WHEREAS, the Bylaws and the Law, by their nonexclusive nature, permit contracts between the Company and the officers or directors of the
Company with respect to indemnification of such officers or directors; and 
 WHEREAS, in accordance with the authorization as provided by
the Law, the Company may purchase and maintain a policy or of directors’ and officers’ liability insurance (“D & O Insurance”), covering certain liabilities which may be incurred by its officers or directors in the
performance of their obligations to the Company; and 
 WHEREAS, in recognition of past services and in order to induce Indemnitee to
continue to serve as an officer or director of the Company, the Company has determined and agreed to enter into this contract with Indemnitee; 

NOW, THEREFORE, in consideration of Indemnitee’s service as an officer or director after the date hereof, the parties hereto agree as
follows: 
 1. Indemnity of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent not
prohibited by the Law, as such may be amended from time to time (but only to the extent that such amendment permits the Company to provide broader indemnification rights than the Law permitted prior to the adoption of such amendment), and to the
fullest extent authorized or permitted by the provisions of Article VII, Section 7.6 of the Bylaws, as such may be amended. In furtherance of the foregoing indemnification, and without limited the generality thereof: 

(a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification
provided in this Section 1(a) if, by reason of his Corporate Status (as hereinafter defined), he is, or is threatened to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of
the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter defined), judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him or on his behalf in
connection with such Proceeding or any claim, issue or matter therein to the fullest extent not prohibited by the Law, as the same may 

  
 1 

 
be amended from time to time (but only to the extent that such amendment permits the Company to provide broader indemnification rights than the Law permitted prior to the adoption of such
amendment). 
 (b) Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification
provided in this Section 1(b) if, by reason of his Corporate Status, he is, or is threatened to be made, a party to or participant in any Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall
be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding to the fullest extent not prohibited by the Law, as the same may be amended from time to time (but only to the extent
that such amendment permits the Company to provide broader indemnification rights than the Law permitted prior to the adoption of such amendment). 

(c) Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement
to the extent that Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he shall be indemnified to the maximum extent permitted by law against all Expenses actually and
reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to 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 him or on his behalf in connection with each successfully resolved claim, issue or matter. For purposes of this Section and without
limitation, 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. 

2. Additional Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in Section 1,
the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him or on his behalf if, by reason of his Corporate Status,
he is, or is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the negligence or active or passive wrongdoing of
Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that is finally determined (under the procedures, and
subject to the presumptions, set forth in Sections 6 and 7 hereof) to be Unlawful under Delaware law. 
 3. Contribution in the Event of
Joint Liability. 
 (a) Whether or not the indemnification provided in Sections 1 and 2 hereof is available, in respect of any
threatened, pending or completed action, suit or proceeding in which Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), Company shall pay, in the first instance, the entire amount of any judgment or
settlement of such action, suit or proceeding without requiring Indemnitee to contribute to such payment and Company hereby waives and relinquishes any right of contribution it may have 

  
 2 

 
against Indemnitee. Company shall not enter into any settlement of any action, suit or proceeding in which Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee. 
 (b) Without
diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or
completed action, suit or proceeding in which Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), Company shall contribute to the amount of expenses (including attorneys’ fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and all officers, directors or employees of the Company other than Indemnitee who are
jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the-other hand, from the transaction from which such action, suit or proceeding arose; provided, however, that the
proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to the relative fault of Company and all officers, directors or employees of the Company other than Indemnitee
who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the events that resulted in such expenses, judgments, fines or settlement
amounts, as well as any other equitable considerations which the law may require to be considered. The relative fault of Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or
would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined by reference to among other things, the degree to which their actions were motivated by intent to gain personal profit or
advantage, the degree to which their liability is primary or secondary, and the degree to which their conduct is active or passive. 
 (c)
Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee. 

4. Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is,
by reason of his Corporate Status, a witness in any Proceeding to which Indemnitee is not a party; he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. 

5. Advancement of Expenses. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred by
or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within ten (10) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances
from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by an undertaking by or on
behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and 

  
 3 

 
undertakings to repay pursuant to this Section 5 shall be unsecured and interest free. Notwithstanding the foregoing, the Indemnitee shall repay such amounts advanced if, and only if and to
the extent that, it shall ultimately be determined that the Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the Company’s Bylaws, or the Law. 

6. Procedures and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for
Indemnitee rights of indemnity that are as favorable as may be permitted under the law and public policy of the State of Delaware. Accordingly, the parties agree that the following procedures and presumptions shall apply in the event of any question
as to whether Indemnitee is entitled to indemnification under this Agreement 
 (a) To obtain indemnification (including, but not limited
to, the advancement of Expenses and contribution by the Company) under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to
Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors
in writing that Indemnitee has requested indemnification. 
 (b) Upon written request by Indemnitee for indemnification pursuant to the
first sentence of Section 6(a) hereof, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following three methods, which shall be at the
election of Indemnitee: (1) by a majority vote of the disinterested directors, even though less than a quorum, or (2) by independent legal counsel in a written opinion, or (3) by the stockholders. 

(c) If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof, the
Independent Counsel shall be selected as provided in this Section 6(c). The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board of Directors). 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 14 of this Agreement, and the objection shall set forth with particularity the factual
basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless
and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof, no Independent
Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware or other court of competent jurisdiction for resolution of any objection which shall have been made by
the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such 

  
 4 

 
other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 6(b)
hereof. The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b) hereof, and the Company shall pay all reasonable fees and
expenses incident to the procedures of this Section 6(c), regardless of the manner in which such Independent Counsel was selected or appointed. 

(d) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such
determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 6(a) of this Agreement. Anyone seeking to overcome this
presumption shall have the burden of proof and the burden of persuasion, by clear and convincing evidence. 
 (e) 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 Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course of their
duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the
Enterprise. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement.
Whether or not the foregoing provisions of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably believed to be in or not opposed to the best
interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion, by clear and convincing evidence. 

(f) If the person, persons or entity empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within thirty (30) days after receipt by the Company of the, request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled
to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially, misleading, in connection with the request for indemnification,
or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 30 day period may be extended for a reasonable time, not to exceed an additional fifteen (15) days, if the, person, persons or entity making
the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating documentation and/or information relating thereto; and provided, further, that the foregoing provisions of
this Section 6(g) shall not apply if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days after receipt by the
Company of the request for such determination the Board of Directors or the Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within
seventy five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is 

  
 5 

 
called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting, is held for such purpose within sixty (60) days after having been so
called and such determination is made thereat. 
 (g) 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, member of the Board of Directors, or stockholder of the Company shall act reasonably and in good faith in making
a determination under the Agreement of the Indemnitee’s entitlement to indemnification. Any costs or expenses (including 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. 

(h) The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to avoid
expense, delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation,
settlement of such action, claim or proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to
overcome this presumption shall have the burden of proof and the burden of persuasion, by clear and convincing evidence. 
 7. Remedies
of Indemnitee. 
 (a) In the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is
not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to
Section 6(b) of this Agreement within 90 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within ten (10) days after receipt by the Company of
a written request therefor, or (v) payment of indemnification is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to
Section 6 of this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of his entitlement to such indemnification. Indemnitee shall
commence such proceeding seeking an adjudication within, 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company shall not oppose Indemnitee’s right to seek
any such adjudication. 
 (b) In the event that a determination shall have been made pursuant to Section 6(b) of this Agreement that
Indemnitee is not entitled to indemnification, any judicial 

  
 6 

 
proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial, on the merits and Indemnitee shall not be prejudiced by reason of that adverse
determination under Section 6(b). 
 (c) If a determination shall have been made pursuant to Section 6(b) of this Agreement that
Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent a prohibition of such indemnification under applicable law. 

(d) In the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover damages
for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies maintained by the Company, the Company shall pay on his behalf, in advance, any and all expenses (of the types described in the
definition of Expenses in Section 14 of this Agreement) actually and reasonably incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of
expenses or insurance recovery. 
 (e) The Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this
Section 7 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of this Agreement. 

8. Assumption of Defense. In the event the Company shall be obligated to advance the Expenses for any Proceeding against Indemnitee,
the Company, if deemed appropriate by the Company, shall be entitled to assume the defense of such Proceeding as provided herein. Such defense by the Company may include the representation of two or more parties by one attorney or law firm as
permitted under the ethical rules and legal requirements related to joint representations. Following delivery of written notice to Indemnitee of the Company’s election to assume the defense of such Proceeding, the approval by Indemnitee (which
approval shall not be unreasonably withheld) of counsel designated by the Company and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees and expenses of counsel subsequently
incurred by Indemnitee with respect to the same Proceeding. If (A) the employment of counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have notified the Board in writing that Indemnitee has
reasonably concluded that there is likely to be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or (C) the Company fails to employ counsel to assume the defense of such Proceeding, the fees and
expenses of Indemnitee’s counsel shall be subject to indemnification and/or advancement pursuant to the terms of this Agreement. Nothing herein shall prevent Indemnitee from employing counsel for any such Proceeding at Indemnitee’s
expense. 
 9. Non-Exclusivity; Survival of Rights; Insurance; Subrogation. 

(a) The rights of indemnification 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 certificate of incorporation of the Company, the Bylaws, any agreement, a 

  
 7 

 
vote of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee
under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in the Law, whether by statute or judicial decision, permits greater
indemnification than would be afforded currently under the Bylaws 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. 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.
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. 

(b) The Company shall use reasonable efforts to maintain in full force and effect for the benefit of the Indemnitee as an insured an insurance
policy or policies providing liability insurance for directors, officers, employees, or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which such person
serves at the request of the Company, 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 such director, officer, employee or agent under such policy or
policies. In the event of a Change in Control subsequent to the date of this Agreement, or the Company’s becoming insolvent, including being placed into receivership or entering the federal bankruptcy process, the Company shall maintain in
force any directors’ and officers’ liability insurance policies then maintained by the Company in providing insurance in respect of Indemnitee, for a period of six years thereafter. 

(c) 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. 

(d) The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent
that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 
 10.
Exception to Right of Indemnification. Notwithstanding any other provision of this Agreement, Indemnitee shall not be entitled to indemnification under this Agreement with respect to any Proceeding brought by Indemnitee, or any claim therein,
unless (a) the bringing of such Proceeding or making of such claim shall have been approved by the Board of Directors of the Company, (b) such Proceeding is being brought by the Indemnitee to assert, interpret or enforce his rights under
this Agreement, or (c) such Proceeding is brought to discharge Indemnitee’s fiduciary responsibilities, whether under the Employee Retirement Income Security Act (“ERISA”) or otherwise, but such indemnification or advancement of
Expenses may be provided by the Company in specific cases if the Board finds it to be appropriate. 

  
 8 

 11. Duration of Agreement. All agreements and obligations of the Company contained herein
shall continue during the period Indemnitee is an officer or 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 (or any proceeding commenced under Section 7 hereof) by reason of his Corporate Status, whether or not he is acting or serving in any such
capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective
successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives.
This Agreement shall continue in effect regardless of whether Indemnitee continues to serve as an officer or director of the Company or any other Enterprise at the Company’s request. 

12. Security. To the extent requested by the Indemnitee and approved by the Board of Directors of the Company, the Company may at any
time and from time to time provide security to the Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to the Indemnitee, may not be
revoked or released without the prior written consent of the Indemnitee. 
 13. Enforcement. 

(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in
order to induce Indemnitee to serve as an officer or director of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as an officer or director of the Company. 

(b) 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. 

14. Definitions. For purposes of this Agreement: 

(a) “Change in Control” means (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended), other than a Subsidiary or a trustee or other fiduciary holding securities under an employee benefit plan of the Company or Subsidiary, is or becomes the “Beneficial Owner” (as defined in Rule 13d-3 under
said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the Company’s then outstanding capital stock or (ii) during any period of two consecutive years, individuals
who at the beginning of such period constitute the Board and any new director whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) 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 a majority thereof, or (iii) the stockholders of the Company
approve a merger or consolidation of the 

  
 9 

 
Company with any other corporation, other than a merger or consolidation that would result in the outstanding capital stock of the Company outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into capital stock of the surviving entity) at least 50% of the total voting power represented by the capital stock of the Company or such surviving entity outstanding immediately
after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company (in one transaction or a series of transactions) of all or
substantially all of the Company’s assets. 
 (b) “Corporate Status” describes the status of a person who is or was a
director, officer, employee or agent or fiduciary of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which such person is or was serving at the express written request of the
Company. 
 (c) “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. 
 (d) “Enterprise” shall mean the Company and any other corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the express written request of the Company as a director, officer, employee, agent or fiduciary. 

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

(g) “Proceeding” includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism,
investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee
was, is or will be involved as a party or otherwise, by reason of the fact that 

  
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Indemnitee is or was a director of the Company, by reason of any action taken by him or of any inaction on his part while acting as an officer or director of the Company, or by reason of the fact
that he 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; in each case whether or not he is acting or serving in any such capacity
at the time any liability or expense is incurred for which indemnification can be provided under this Agreement; including one pending on or before the date of this Agreement; and excluding one initiated by an Indemnitee pursuant to Section 7
of this Agreement to enforce his rights under this Agreement. 
 (h) “Subsidiary” means any entity of which more than 50% of the
outstanding voting securities is owned directly or indirectly by the Company. 
 15. Severability. If any provision or provisions of
this Agreement shall be held by a court of competent jurisdiction to be invalid, void, illegal or otherwise unenforceable for any reason whatsoever: (a) 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; and (b) 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. 

16. Modification and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed
in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 17. Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any
obligation which it may have to the Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially prejudices the Company. 

18. Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been
duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after
the date on which it is so mailed: 
 (a) If to Indemnitee, to the address set forth below Indemnitee’s signature hereto. 

  
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 (b) If to the Company, to: 

951 Mariners Island Boulevard 

San Mateo, CA 94404 
 Attention:
General Counsel 
 or to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

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

 20. Headings. The headings of the paragraphs 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. 
 21. Governing Law. The parties agree that this Agreement
shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware without application of the conflict of laws principles thereof. 

22. Consent to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the State
of Delaware for all purposes in connection with any Proceeding which arises out of or relates to this Agreement. 
 23. Gender. Use
of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and year
first above written. 
  

					
	ACTUATE CORPORATION
	
	 By:

		 	Name:	 	  

		 	Title:	 	  

	
	  

	Name:	 	  

	Address:	 	
	  

	  

	  

	  

  
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