Document:

EX-10.1

 Exhibit 10.1 

DIRECTOR NOMINATION AGREEMENT 

THIS DIRECTOR NOMINATION AGREEMENT (this “Agreement”) is made and entered into as of July 26, 2021, by and among
Instructure Holdings, Inc., a Delaware corporation (the “Company”), Thoma Bravo Fund XIII, L.P., a Delaware limited partnership, Thoma Bravo Fund XIII-A, L.P., a Delaware limited partnership,
Thoma Bravo Executive Fund XIII, L.P., a Delaware limited partnership, Thoma Bravo Partners XIII, L.P., and Thoma Bravo UGP, LLC, a Delaware limited liability company (collectively, “Thoma Bravo”). This Agreement shall become
effective (the “Effective Date”) upon the closing of the Company’s proposed initial public offering (the “IPO”) of shares of its Common Stock (as defined below). 

WHEREAS, as of the date hereof, Thoma Bravo beneficially owns a majority of the equity interests in the Company; 

WHEREAS, Thoma Bravo is contemplating causing the Company to effect an IPO; 

WHEREAS, Thoma Bravo currently has the authority to appoint all directors of the Company; 

WHEREAS, in consideration of Thoma Bravo agreeing to undertake the IPO, the Company has agreed to permit Thoma Bravo to designate persons for
nomination for election to the board of directors of the Company (the “Board”) following the Effective Date on the terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each of the parties to this Agreement agrees as follows: 
 1. Board Nomination Rights.

 (a) From the Effective Date, Thoma Bravo shall have the right, but not the obligation, to nominate to the Board a number of designees
equal to at least: (i) 100% of the Total Number of Directors (as defined below), so long as Thoma Bravo continuously from the time of the IPO Beneficially Owns shares of common stock, par value $0.01 per share (the “Common Stock”)
representing at least 40% of the Original Amount of Thoma Bravo, (ii) 40% of the Total Number of Directors, in the event that Thoma Bravo continuously from the time of the IPO Beneficially Owns shares of Common Stock representing at least 30% but
less than 40% of the Original Amount of Thoma Bravo, (iii) 30% of the Total Number of Directors, in the event that Thoma Bravo continuously from the time of the IPO Beneficially Owns shares of Common Stock representing at least 20% but less than 30%
of the Original Amount of Thoma Bravo, (iv) 20% of the Total Number of Directors, in the event that Thoma Bravo continuously from the time of the IPO Beneficially Owns shares of Common Stock representing at least 10% but less than 20% of the
Original Amount of Thoma Bravo and (v) one Director, in the event that Thoma Bravo continuously from the time of the IPO Beneficially Owns shares of Common Stock representing at least 5% of the Original Amount of Thoma Bravo (such persons, the
“Nominees”). For purposes of calculating the number of directors that Thoma Bravo is entitled to designate pursuant to the immediately preceding sentence, any fractional amounts shall automatically be rounded up to the nearest whole
number (e.g., 11⁄4 Directors shall equate to 2 Directors) and any such calculations shall be made after taking into account any increase in the Total Number of
Directors. 

 (b) In the event that Thoma Bravo has nominated less than the total number of designees
Thoma Bravo shall be entitled to nominate pursuant to Section 1(a), Thoma Bravo shall have the right, at any time, to nominate such additional designees to which it is entitled, in which case, the Company and the Directors
shall take all necessary corporation action (including increasing the size of the Board to create a vacancy), to the fullest extent permitted by applicable law (including with respect to fiduciary duties under Delaware law), to (x) enable Thoma
Bravo to nominate and effect the election or appointment of such additional individuals, whether by increasing the size of the Board, or otherwise and (y) to designate such additional individuals nominated by Thoma Bravo to fill such newly
created vacancies or to fill any other existing vacancies. 
 (c) In addition to the nomination rights set forth in
Section 1(a) above, from the Effective Date, for so long as Thoma Bravo continuously from the time of the IPO Beneficially Owns shares of Common Stock representing at least 5% of the Original Amount of Thoma Bravo, Thoma
Bravo shall have the right, but not the obligation, to designate a person (a “Non-Voting Observer”) to attend meetings of the Board (including any meetings of any committees thereof) in a non-voting observer capacity. Any such Non-Voting Observer shall be permitted to attend all meetings of the Board. Thoma Bravo shall have the right to remove and replace its Non-Voting Observer at any time and from time to time. The Company shall furnish to any Non-Voting Observer (i) notices of Board meetings no later than, and using the
same form of communication as, notice of Board meetings are furnished to directors and (ii) copies of any materials prepared for meetings of the Board that are furnished to the directors no later than the time such materials are furnished to
the directors; provided that failure to deliver notice, or materials, to such Non-Voting Observer in connection with such Non-Voting Observer’s right to attend
and/or review materials with respect to, any meeting of the Board shall not, by itself, impair the validity of any action taken by such Board at such meeting. Such Non-Voting Observer shall be required to
execute or otherwise become subject to any codes of conduct or confidentiality agreements of the Company generally applicable to directors of the Company or as the Company reasonably requests. Notwithstanding the foregoing, the Company reserves the
right to withhold any information and to exclude the Non-Voting Observer from receiving any materials and/or attending any meeting or portion thereof if access to such information or attendance at such meeting
could adversely affect the attorney-client privilege between the Company and its counsel. 
 (d) The Company shall pay all reasonable out-of-pocket expenses incurred by the Nominees and the Non-Voting Observer in connection with the performance of his or her duties as
a director or a Non-Voting Observer and in connection with his or her attendance at any meeting of the Board. 

(e) “Affiliate” of any person shall mean any other person controlled by, controlling or under common control with such person;
where “control” (including, with its correlative meanings, “controlling,” “controlled by” and “under common control with”) means possession, directly or indirectly, of power to
direct or cause the direction of management or policies (whether through ownership of securities, by contract or otherwise). 

  
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 (f) “Beneficially Own” shall mean that a specified person has or shares the
right, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, to vote shares of capital stock of the Company. 

(g) “Director” means any member of the Board. 

(h) “Original Amount of Thoma Bravo” means the aggregate number of shares of Common Stock held, directly or indirectly, by
Thoma Bravo on the date hereof, as such number may be adjusted from time to time for any reorganization, recapitalization, stock dividend, stock split, reverse stock split or other similar changes in the Company’s capitalization. 

(i) “Total Number of Directors” means the total number of Directors comprising the Board. 

(j) No reduction in the number of shares of Common Stock that Thoma Bravo Beneficially Owns shall shorten the term of any incumbent director.
At the Effective Date, the Board shall be comprised of seven members and the initial Nominees shall be Steve Daly, Charles Goodman, Erik Akopiantz, Ossa Fisher, James Hutter, Brian Jaffee and Paul Holden Spaht, Jr. 

(k) In the event that any Nominee shall cease to serve for any reason, Thoma Bravo shall be entitled to designate such person’s successor
in accordance with this Agreement (regardless of Thoma Bravo’s beneficial ownership in the Company at the time of such vacancy) and the Board shall promptly fill the vacancy with such successor nominee; it being understood that any such
designee shall serve the remainder of the term of the director whom such designee replaces. 
 (l) If a Nominee is not appointed or elected
to the Board because of such person’s death, disability, disqualification, withdrawal as a nominee or for other reason is unavailable or unable to serve on the Board, Thoma Bravo shall be entitled to designate promptly another nominee and the
director position for which the original Nominee was nominated shall not be filled pending such designation. 
 (m) So long as Thoma Bravo
has the right to nominate Nominees under Section 1(a) or any such Nominee is serving on the Board, the Company shall use its reasonable best efforts to maintain in effect at all times directors and officers indemnity insurance coverage
reasonably satisfactory to Thoma Bravo, and the Company’s Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws (each as may be further amended, supplemented or waived in accordance with its terms) shall at all times
provide for indemnification, exculpation and advancement of expenses to the fullest extent permitted under applicable law. 
 (n) If the size
of the Board is expanded, Thoma Bravo shall be entitled to nominate a number of Nominees to fill the newly created vacancies such that the total number of Nominees serving on the Board following such expansion will be equal to that number of
Nominees that Thoma Bravo would be entitled to nominate in accordance with Section 1(a) if such expansion occurred immediately prior to any meeting of the stockholders of the Company called with respect to the election of
members of the Board, and the Board shall appoint such Nominees to the Board. 

  
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 (o) At such time as the Company ceases to be a “controlled company” and is
required by applicable law or The New York Stock Exchange (the “Exchange”) listing standards to have a majority of the Board comprised of “independent directors” (subject in each case to any applicable phase-in periods), Thoma Bravo’s Nominees shall include a number of persons that qualify as “independent directors” under applicable law and the Exchange listing standards such that, together with any
other “independent directors” then serving on the Board that are not Nominees, the Board is comprised of a majority of “independent directors.” 

(p) At any time that Thoma Bravo shall have any nomination rights under Section 1, the Company shall not take any
action, including making or recommending any amendment to the Amended and Restated Certificate of Incorporation or the Company’s Amended and Restated Bylaws that could reasonably be expected to adversely affect Thoma Bravo’s rights under
this Agreement, in each case without the prior written consent of Thoma Bravo. 
 2. Company Obligations. The Company agrees to use
its reasonable best efforts to ensure that prior to the date that Thoma Bravo and its Affiliates cease to Beneficially Own shares of Common Stock representing at least 5% of the total voting power of the then outstanding Common Stock, (i) each
Nominee is included in the Board’s slate of nominees to the stockholders (the “Board’s Slate”) for each election of directors; and (ii) each Nominee is included in the proxy statement prepared by management of the
Company in connection with soliciting proxies for every meeting of the stockholders of the Company called with respect to the election of members of the Board (each, a “Director Election Proxy Statement”), and at every adjournment
or postponement thereof, and on every action or approval by written consent of the stockholders of the Company or the Board with respect to the election of members of the Board. Thoma Bravo will promptly provide reporting to the Company after Thoma
Bravo ceases to Beneficially Own shares of Common Stock representing at least 5% of the total voting power of the then outstanding Common Stock, such that Company is informed of when this obligation terminates. The calculation of the number of
Nominees that Thoma Bravo is entitled to nominate to the Board’s Slate for any election of directors shall be based on the percentage of the total voting power of the then outstanding Common Stock then Beneficially Owned by Thoma Bravo
(“Thoma Bravo Voting Control”) immediately prior to the mailing to shareholders of the Director Election Proxy Statement relating to such election (or, if earlier, the filing of the definitive Director Election Proxy Statement with
the U.S. Securities and Exchange Commission). Unless Thoma Bravo notifies the Company otherwise prior to the mailing to shareholders of the Director Election Proxy Statement relating to an election of directors, the Nominees for such election shall
be presumed to be the same Nominees currently serving on the Board, and no further action shall be required of Thoma Bravo for the Board to include such Nominees on the Board’s Slate; provided, that, in the event Thoma Bravo is no longer
entitled to nominate the full number of Nominees then serving on the Board, Thoma Bravo shall provide advance written notice to the Company, of which currently servicing Nominee(s) shall be excluded from the Board Slate, and of any other changes to
the list of Nominees. If Thoma Bravo fails to provide such notice prior to the mailing to shareholders of the Director Election Proxy Statement relating to such election (or, if earlier, the filing of the definitive

  
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Director Election Proxy Statement with the U.S. Securities and Exchange Commission), a majority of the independent directors then serving on the Board shall determine which of the Nominees of
Thoma Bravo then serving on the Board will be included in the Board’s Slate. Furthermore, the Company agrees for so long as the Company qualifies as a “controlled company” under the rules of the Exchange the Company will elect to be a
“controlled company” for purposes of the Exchange and will disclose in its annual meeting proxy statement that it is a “controlled company” and the basis for that determination. The Company and Thoma Bravo acknowledge and agree
that, as of the Effective Date, the Company is a “controlled company.” 
 3. Committees. From and after the Effective Date
hereof until such time as Thoma Bravo and its Affiliates cease to Beneficially Own shares of Common Stock representing at least 5% of the total voting power of the then outstanding Common Stock, Thoma Bravo shall have the right to designate a number
of members of each committee of the Board equal to the nearest whole number greater than the product obtained by multiplying (a) the percentage of the total voting power of the then outstanding Common Stock then Beneficially Owned by Thoma
Bravo and (b) the number of positions, including any vacancies, on the applicable committee, provided that any such designee shall be a director and shall be eligible to serve on the applicable committee under applicable law or listing
standards of the Exchange, including any applicable independence requirements (subject in each case to any applicable exceptions, including those for newly public companies and for “controlled companies,” and any applicable phase-in periods). Any additional members shall be determined by the Board. Nominees designated to serve on a Board committee shall have the right to remain on such committee until the next election of directors,
regardless of the level of Thoma Bravo Voting Control following such designation. Unless Thoma Bravo notifies the Company otherwise prior to the time the Board takes action to change the composition of a Board committee, and to the extent Thoma
Bravo has the requisite Thoma Bravo Voting Control for Thoma Bravo to nominate a Board committee member at the time the Board takes action to change the composition of any such Board committee, any Nominee currently designated by Thoma Bravo to
serve on a committee shall be presumed to be re-designated for such committee. 
 4. Amendment and
Waiver. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by the Company and Thoma Bravo, or in the case of a waiver, by the party against
whom the waiver is to be effective. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. Thoma Bravo shall not be obligated to nominate all (or any) of
the Nominees it is entitled to nominate pursuant to this Agreement for any election of directors but the failure to do so shall not constitute a waiver of its rights hereunder with respect to future elections; provided, however, that
in the event Thoma Bravo fails to nominate all (or any) of the Nominees it is entitled to nominate pursuant to this Agreement prior to the mailing to shareholders of the Director Election Proxy Statement relating to such election (or, if earlier,
the filing of the definitive Director Election Proxy Statement with the U.S. Securities and Exchange Commission), the Compensation and Governance Committee of the Board shall be entitled to nominate individuals in lieu of such Nominees for inclusion
in the Board’s Slate and the applicable Director Election Proxy Statement with respect to the election for which such failure occurred and Thoma Bravo shall be deemed to have waived its rights hereunder with respect to such election. The rights
and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 

  
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 5. Benefit of Parties. This Agreement shall be binding upon and shall inure to the
benefit of the parties hereto and their respective permitted successors and assigns. Notwithstanding the foregoing, the Company may not assign any of its rights or obligations hereunder without the prior written consent of Thoma Bravo. Except as
otherwise expressly provided in Section 6, nothing herein contained shall confer or is intended to confer on any third party or entity that is not a party to this Agreement any rights under this Agreement. 

6. Assignment. Upon written notice to the Company, Thoma Bravo may assign to any any Affiliate of Thoma Bravo (other than a portfolio
company) all of its rights hereunder and, following such assignment, such assignee shall be deemed to be “Thoma Bravo” for all purposes hereunder. 

7. Indemnification. 
 (a)
The Company shall defend, indemnify and hold harmless Thoma Bravo, its Affiliates, partners, employees, agents, directors, managers, officers and controlling Persons (collectively, the “Indemnified Parties”) from and against any and
all actions, causes of action, suits, claims, liabilities, losses, damages, costs, expenses, or obligations of any kind or nature (whether accrued or fixed, absolute or contingent) in connection therewith (including reasonable attorneys’ fees
and expenses) incurred by the Indemnified Parties before or after the date of this Agreement (each, an “Action”) arising directly or indirectly out of, or in any way relating to, (i) Thoma Bravo’s or its Affiliates’
Beneficial Ownership of Common Stock or other equity securities of the Company or control or ability to influence the Company or any of its subsidiaries (other than any such Actions (x) to the extent such Actions arise out of any breach of this
Agreement by an Indemnified Party or its Affiliates or the breach of any fiduciary or other duty or obligation of such Indemnified Party to its direct or indirect equity holders, creditors or Affiliates or (y) to the extent such Actions are
directly caused by such Person’s willful misconduct), (ii) the business, operations, properties, assets or other rights or liabilities of the Company or any of its subsidiaries or (iii) any services provided prior, on or after the date of
this Agreement by Thoma Bravo or its Affiliates to the Company or any of its subsidiaries. The Company shall defend at its own cost and expense in respect of any Action which may be brought against the Company and/or its Affiliates and the
Indemnified Parties. The Company shall defend at its own cost and expense any and all Actions which may be brought in which the Indemnified Parties may be impleaded with others upon any Action by the Indemnified Parties, except that if such damage
shall be proven to be the direct result of gross negligence, bad faith or willful misconduct by any of the Indemnified Parties, then such Indemnified Party shall reimburse the Company for the costs of defense and other costs incurred by the Company
in proportion to such Indemnified Party’s culpability as proven. In the event of the assertion against any Indemnified Party of any Action or the commencement of any Action, the Company shall be entitled to participate in such Action and in the
investigation of such Action and, after written notice from the Company to such Indemnified Party, to assume the investigation or defense of such Action with counsel of the Company’s choice at the Company’s

  
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expense; provided, however, that such counsel shall be reasonably satisfactory to the Indemnified Party. Notwithstanding anything to the contrary contained herein, the Company may retain one firm
of counsel to represent all Indemnified Parties in such Action; provided, however, that the Indemnified Party shall have the right to employ a single firm of separate counsel (and any necessary local counsel) and to participate in the defense or
investigation of such Action and the Company shall bear the expense of such separate counsel (and local counsel, if applicable), if (x) in the opinion of counsel to the Indemnified Party use of counsel of the Company’s choice could
reasonably be expected to give rise to a conflict of interest, (y) the Company shall not have employed counsel satisfactory to the Indemnified Party to represent the Indemnified Party within a reasonable time after notice of the assertion of
any such Action or (z) the Company shall authorize the Indemnified Party to employ separate counsel at the Company’s expense. The Company further agrees that with respect to any Indemnified Party who is employed, retained or otherwise
associated with, or appointed or nominated by, Thoma Bravo or any of its Affiliates and who acts or serves as a director, officer, manager, fiduciary, employee, consultant, advisor or agent of, for or to the Company or any of its subsidiaries, that
the Company or such subsidiaries, as applicable, shall be primarily liable for all indemnification, reimbursements, advancements or similar payments (the “Indemnity Obligations”) afforded to such Indemnified Party acting in such
capacity or capacities on behalf or at the request of the Company, whether the Indemnity Obligations are created by law, organizational or constituent documents, contract (including this Agreement) or otherwise. The Company hereby agrees that in no
event shall the Company or any of its subsidiaries have any right or claim against Thoma Bravo for contribution or have rights of subrogation against Thoma Bravo through an Indemnified Party for any payment made by the Company or any of its
subsidiaries with respect to any Indemnity Obligation. In addition, the Company hereby agrees that in the event that Thoma Bravo pay or advance an Indemnified Party any expenses with respect to an Indemnity Obligation, the Company will, or will
cause its subsidiaries to, as applicable, promptly reimburse Thoma Bravo, for such payment or advance upon request; subject to the receipt by the Company of a written undertaking executed by the Indemnified Party and Thoma Bravo, that makes such
payment or advance to repay any such amounts if it shall ultimately be determined by a court of competent jurisdiction that such Indemnified Party was not entitled to be indemnified by the Company. The foregoing right to indemnity shall be in
addition to any rights that any Indemnified Party may have at common law or otherwise and shall remain in full force and effect following the completion or any termination of the engagement. If for any reason the foregoing indemnification is
unavailable to any Indemnified Party or insufficient to hold it harmless as and to the extent contemplated by this Section 7, then the Company shall contribute to the amount paid or payable by the Indemnified Party as a result of such Action in
such proportion as is appropriate to reflect the relative benefits received by the Company, on the one hand, and the Indemnified Party, as the case may be, on the other hand, as well as any other relevant equitable considerations. 

(b) The Company hereby acknowledges that the certain of the Indemnified Parties have certain rights to indemnification, advancement of expenses
and/or insurance provided by investment funds managed by Thoma Bravo and certain of their Affiliates (collectively, the “Fund Indemnitors”). The Company hereby agrees with respect to any indemnification, hold harmless obligation, expense
advancement or reimbursement provision or any other similar obligation whether pursuant to or with respect to this Agreement, the organizational documents of the Company or any of its subsidiaries or any other agreement, as applicable, (i) that
the Company 

  
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and its subsidiaries are the indemnitor of first resort (i.e., their obligations to the Indemnified Parties are primary and any obligation of the Fund Indemnitors to advance expenses or to
provide indemnification for claims, expenses or obligations arising out of the same or similar facts and circumstances suffered by any Indemnified Party are secondary), (ii) that the Company shall be required to advance the full amount of expenses
incurred by any Indemnified Party and shall be liable for the full amount of all expenses, liabilities, obligations, judgments, penalties, fines, and amounts paid in settlement to the extent legally permitted and as required by the terms of this
Agreement, the organizational documents of the Company or any of its subsidiaries or any other agreement, as applicable, without regard to any rights any Indemnified Party may have against the Fund Indemnitors, and (iii) that the Company, on
behalf of itself and each of its subsidiaries, irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all Actions against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect
thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of any Indemnified Party with respect to any Action for which any Indemnified Party has sought indemnification from the Company shall affect the
foregoing and the Fund Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of any Indemnified Party against the Company. The Company agrees that the Fund
Indemnitors are express third-party beneficiaries of the terms of this Section 7(b). 
 8. Headings. Headings are for ease of
reference only and shall not form a part of this Agreement. 
 9. Governing Law. This Agreement shall be construed in accordance with
and governed by the law of the State of Delaware without giving effect to the principles of conflicts of laws thereof. 
 10.
Jurisdiction. Any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement may be brought against any of the parties in any federal court located in the State
of Delaware or any Delaware state court, and each of the parties hereby consents to the exclusive jurisdiction of such court (and of the appropriate appellate courts) in any such suit, action or proceeding and waives any objection to venue laid
therein. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each of the parties agrees that service of
process upon such party at the address referred to in Section 16, together with written notice of such service to such party, shall be deemed effective service of process upon such party. 

11. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. 
 12. Entire Agreement. This Agreement constitutes the entire
agreement among the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, both written and oral among the parties with respect to the subject matter hereof. 

  
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 13. Counterparts; Effectiveness. This Agreement may be signed in any number of
counterparts, each of which shall be deemed an original. This Agreement shall become effective when each party shall have received a counterpart hereof signed by each of the other parties. An executed copy or counterpart hereof delivered by
facsimile shall be deemed an original instrument. 
 14. Severability. If any provision of this Agreement or the application thereof
to any person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provisions to other persons or circumstances shall not be affected thereby and shall be enforced to the
greatest extent permitted by law. 
 15. Further Assurances. Each of the parties hereto shall execute and deliver such further
instruments and do such further acts and things as may be required to carry out the intent and purpose of this Agreement. 
 16. Specific
Performance. Each of the parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to
prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in any federal or state court located in the State of Delaware, in addition to any other remedy to which they are entitled at law or in
equity. 
 17. Notices. All notices, requests and other communications to any party or to the Company shall be in writing (including
telecopy or similar writing) and shall be given, 
 If to the Company: 

Instructure Holdings, Inc. 
 6330
South 3000 East, Suite 7000 
 Salt Lake City, UT 84121 

Attention: Matt Kaminer, Chief Legal Officer 

Email: [****] 
 With a copy to
(which shall not constitute notice): 
 Kirkland & Ellis LLP 

300 North LaSalle Street 

Chicago, IL 60654 
 Attention:
Bradley C. Reed, P.C. 
     Michael P. Keeley 

Email: [****] 
 If to any
member of Thoma Bravo or any Nominee: 
 c/o Thoma Bravo, L.P 

600 Montgomery Street, 20th Floor 

San Francisco, CA 94111 

  
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 Attention: Holden Spaht 

    Brian Jaffee 

Email: [****] 
 With a copy to
(which shall not constitute notice): 
 Kirkland & Ellis LLP 

300 North LaSalle Street 

Chicago, IL 60654 
 Attention:
Bradley C. Reed, P.C. 
     Michael P. Keeley 

Email: [****] 
 or to such other address or
telecopier number as such party or the Company may hereafter specify for the purpose by notice to the other parties and the Company. Each such notice, request or other communication shall be effective when delivered at the address specified in this
Section 16 during regular business hours. 
 18. Enforcement. Each of the parties hereto covenant and agree
that the disinterested members of the Board have the right to enforce, waive or take any other action with respect to this Agreement on behalf of the Company. 

*        *        *       
 *        * 

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

			
	INSTRUCTURE HOLDINGS, INC.
		
	By:	 	 /s/ Dale Bowen

	Name: Dale Bowen
	Title: Chief Financial Officer

  
 [Signature Page to
Director Nomination Agreement] 

 
			
	THOMA BRAVO FUND XIII, L.P.
	
	By: Thoma Bravo Partners XIII, L.P.
	Its: General Partner
	
	By: Thoma Bravo UGP XIII, LLC
	Its: General Partner
	
	By: Thoma Bravo UGP, LLC
	
	Its: Managing Member
	By:	 	 /s/ Holden Spaht

	Name: Holden Spaht
	
	Title: Managing Partner
	
	THOMA BRAVO FUND XIII-A, L.P.
	
	By: Thoma Bravo Partners XIII, L.P.
	Its: General Partner
	
	By: Thoma Bravo UGP XIII, LLC
	Its: General Partner
	
	By: Thoma Bravo UGP, LLC
	Its: Managing Member
		
	By:	 	 /s/ Holden Spaht

	Name: Holden Spaht
	Title: Managing Partner
	
	THOMA BRAVO EXECUTIVE FUND XIII,
	L.P.
	
	By: Thoma Bravo Partners XIII, L.P.
	Its: General Partner
	
	By: Thoma Bravo UGP XIII, LLC
	Its: General Partner
	
	By: Thoma Bravo UGP, LLC
	Its: Managing Member
		
	By:	 	 /s/ Holden Spaht

	Name: Holden Spaht
	Title: Managing Partner

  
 [Signature Page to
Director Nomination Agreement] 

 
			
	THOMA BRAVO PARTNERS XIII, L.P.
	
	By: Thoma Bravo UGP XIII, LLC
	Its: General Partner
	
	By: Thoma Bravo UGP, LLC
	Its: Managing Member
		
	By:	 	 /s/ Holden Spaht

	Name: Holden Spaht
	Title: Managing Partner
	
	THOMA BRAVO UGP, LLC
		
	By:	 	 /s/ Holden Spaht

	Name: Holden Spaht
	Title: Managing Partner

  
 [Signature Page to
Director Nomination Agreement]Exhibit 10.1

 

 

 

 

 

 

 

FRAMEWORK AGREEMENT

RELATING TO INVESTMENT 

OF

DALIAN CBAK POWER BATTERY CO., LTD.

IN

ZHEJIANG MEIDU HITRANS LITHIUM BATTERY

TECHNOLOGY
CO., LTD

 

 

 

 

 

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

	1.	Dispute Settlement	3
	2.	Provision of Loans	5
	3.	Transfer of Shares	7
	4.	Representations, Warranties and Covenants	9
	5.	Default	12
	6.	Dispute Resolution	13
	7.	Notice	13
	8.	Others	15
	Appendix 1: Enforcement Settlement
    Agreement	
	Appendix 2: Civil Mediation Document
    and Hitrans’s Shareholders Resolutions	
	Appendix 3: Loan Agreement	 
	Appendix 4: Asset Purchase Agreement	 
	Appendix 5: Form of Hitrans’s
    Shareholders Resolutions Approving the Loan	
	Appendix 6: Share Transfer Agreement (21.56% Shares)	 
	Appendix 7: Form of Hitrans’s
    Shareholders Resolutions and Charter Amendment Regarding CBAK Power’s Acquisition of 21.56% Shares	
	Appendix 8: Share Transfer Agreement (60% Shares)	 
	Appendix 9: Form of Hitrans’s
    Shareholders Resolutions and Charter Amendment Regarding CBAK Power’s Acquisition of 60% Shares	
	Appendix 10: Form of Resignation	

 

     

     

    

 

THIS AGREEMENT is signed by the following
parties on the 20th day of July, 2021.

 

		1.	Dalian CBAK Power Battery Co., Ltd. (hereinafter referred to as “Party A” or “CBAK
Power”).

 

		2.	Junnan Ye、Hangzhou Juzhong Daxin
Asset Management Co., Ltd. (hereinafter referred to as “Juzhong Daxin”) (Junnan Ye and Juzhong Daxin are hereinafter
collectively referred to as “Party B”).

 

		3.	Haijun Wu、Chunhong Shi (Haijun
Wu、Chunhong Shi are hereinafter collectively referred to as “Party
C”).

 

		4.	Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd (hereinafter referred to as “Party
D” or “Hitrans”).

 

WHEREAS:

 

		I.	Hitrans is a limited company duly incorporated under the laws of the People’s Republic of China
and is valid and subsisting. It mainly engages in research and development, production and sale of lithium battery three-way positive
electrode material and ternary precursor relating businesses. Up to the date of the signing of this Agreement, its registered capital
is RMB40,000,000.00, of which Zhejiang Meidu Graphene Technology Co., Ltd. (hereinafter referred to as “Meidu Graphene”)
subscribed RMB24,000,000.00 (paid up RMB15,500,000.00) holding 60% shares; Shaoxing Yongjin Battery Material Co., Ltd., Shaoxing Shangyu
Hitrans International Trade Co., Ltd., Haijun Wu, Chunhong Shi, Zhiting Qian, Yinfeng Wang (hereinafter collectively referred to as “Management
Shareholders”) totally subscribed RMB10,000,000.00 (paid up RMB7,000,000.00) holding 25% shares; New Era Group Zhejiang New
Energy Materials Co., Ltd. (hereinafter referred to as “New Era”) subscribed RMB6,000,000.00 (paid up RMB6,000,000.00)
holding 15% shares.

 

		II.	Among Hitrans、Meidu Graphene、Meidu
Energy Corporation (hereinafter referred to as “Meidu Energy”) and New Era, there was legal action due to Hitrans being
unable to timely pay the asset transfer consideration under the Asset Transfer Agreement and the Supplemental Asset Transfer Agreement
and due to Meidu Graphene’s and Meidu Energy’s provision of guarantee in those transactions. Shaoxing Intermediate People’s
Court and Higher People’s Court of Zhejiang Province after two trials have entered final judgement. Also, New Era has through the
Court seized and frozen the 60% shares of Hitrans held by Meidu Graphene (the said legal case is hereinafter referred to as “New
Era Asset Transfer Agreement Case”).

 

    1

     

    

 

		III.	Among Meidu Graphene、Meidu Energy
and New Era, there was legal action due to Meidu Graphene’s failure to timely perform its obligation to make capital contribution
to Hitrans. Also, New Era has through the Court seized and frozen the 60% shares of Hitrans held by Meidu Graphene (the said legal case
is hereinafter referred to as “New Era Capital Increase Obligation Case”).

 

		IV.	Among Hitrans、Meidu Energy and
Meidu Graphene, there was legal action due to Meidu Graphene’s failure to timely perform its obligations to make capital contribution
to Hitrans. This case was ended through mediation by Shaoxing Intermediate People’s Court and Civil Mediation Document ((2021) Zhejiang
06 Civil Trial No. 65) has been issued, delivered and is effective. The shareholders of Hitrans have passed special shareholders’
resolutions agreeing that all shareholders shall perform their obligations to increase the capital of Hitrans according to the lawful
valid judgement, mediation document, or order issued by People’s Court or an arbitration tribunal (the said legal case is hereinafter
referred to as “Hitrans Capital Increase Obligation Case”).

 

		V.	Between Management Shareholders and Zhejiang Meidu Pawn Co., Ltd. (hereinafter referred to as “Pawn
Co.”), there was legal action due to Management Shareholders having pledged the 25% shares of Hitrans held by them and that
the Management Shareholders were not able to make timely repayment. Pawn Co. has through the Court seized and frozen the 25% shares of
Hitrans held by Management Shareholders (the said case is hereinafter referred to as “Pawn Co. against Management Shareholders
Case”).

 

		VI.	CBAK Power is a limited liability company duly incorporated under the laws of People’s Republic
of China and is valid and subsisting. It mainly engages in the research and development, manufacturing and sale of lithium battery and
its business has synergy with that of Hitrans.

 

		VII.	To resolve the above legal actions which have caused adverse impacts on the production and operation of
Hitrans, Hitrans intends to introduce CBAK Power as a strategic investor. CBAK Power will purchase 60% shares of Hitrans held by Meidu
Graphene, and will purchase 21.56% shares of Hitrans from Management Shareholders except Party C. After completion of the purchase, CBAK
Power as the controlling shareholder of Hitrans will hold 81.56% shares of Hitrans.

 

    2

     

    

 

		VIII.	Prior to the signing of this Agreement, Party B has through Juzhong Daxin as representative signed Share
Purchase Cooperation Framework Agreement with CBAK Power, agreeing that Party B will facilitate this transaction and CBAK Power has paid
a security deposit of RMB20,000,000.00 to Juzhong Daxin pursuant to the said agreement.

 

		IX.	In this transaction, Junnan Ye will be the parties’ intermediary who will first purchase the 60%
shares of Hitrans held by Meidu Graphene and the 22.5% shares of Hitrans held by Management Shareholders at fair prices, and then will
transfer the 81.56% shares to CBAK Power in stages.

 

NOW THEREFORE, all parties through negotiation
unanimously reach the following agreement and will comply with the same:

 

		1.	Dispute Settlement

 

		1.1	New Era Asset Transfer Agreement Case Settlement.

 

		1.1.1	To facilitate this transaction, CBAK Power agrees to provide conditional repayment in New Era Asset Transfer
Agreement case, and CBAK Power, Junnan Ye, Juzhong Daxin and Zhejiang New Era Jonoon Recycling Technology Co., Ltd. (hereinafter referred
to as “Jonoon”) as third parties and the said case’s Plaintiff and Defendant have together entered into an enforcement
settlement under the coordination of Shaoxing Intermediate People’s Court. The main contents of the enforcement settlement, as an
integral part of this Agreement, (collectively referred to as “Settlement Agreement”) includes:

 

		1.1.1.1	Hitrans, New Era, and third party Jonoon have reached unanimous agreement to change the transferees involved
in the said case: that Hitrans will accept transfer of, the building and land use rights that it is now using, existing construction projects,
machinery equipment, and pollution discharge permit and will pay the total consideration of RMB131,039,378.00 to New Era; that Jonoon
will accept transfer of the other assets under the Asset Transfer Agreement and will pay the total consideration of RMB78,177,522.00 to
New Era; after execution, the Settlement Agreement shall replace the rights and obligations determined by the Asset Transfer Agreement,
Supplemental Asset Transfer Agreement and related judgements.

 

    3

     

    

 

		1.1.1.2	CBAK Power will provide conditional repayment for the payment obligation of Hitrans under the Settlement
Agreement, that is, after reaching the Settlement Agreement and after CBAK Power has, according to this Agreement, obtained not less than
21.56% shares of Hitrans, CBAK Power, according to the Settlement Agreement, shall remit the monetary fund of RMB131,039,378.00 into the
public account designated by Shaoxing Intermediate People’s Court, the said fund will be handled in the following manner:

 

when the above assets of New Era have
been transferred to Hitrans in registration in accordance with the Settlement Agreement, and Junnan Ye has obtained no less than 60% shares
of Hitrans, then the above fund of RMB131,039,378.00 shall be transferred from the public account designated by Shaoxing Intermediate
People’s Court to New Era. If the above assets or shares transfer is not completed, then the above fund of RMB131,039,378.00 shall
be returned by Shaoxing Intermediate People’s Court to CBAK Power’s account via the original route.

 

		1.1.1.3	Save the total consideration payable to New Era as determined under the Settlement Agreement, Hitrans
has no responsibility whatsoever towards New Era to perform any obligation or duty under any agreement or judgement.

 

		1.1.1.4	After CBAK Power remits RMB131,039,378.00 into the account designated by Shaoxing Intermediate People’s
Court, New Era shall remove the freeze on the 60% shares of Hitrans held by Meidu Graphene. The above assets and shares transfers shall
be completed in 35 business days.

 

		1.2	New Era Capital Increase Obligation Case Settlement

 

		1.2.1	All parties agree that Party B shall, within 15 days from the date of signing of this Agreement, coordinate
the Plaintiff and Defendant of the said case to reach settlement of the case and remove the seizure and freeze of the 60% shares of Hitrans
held by Meidu Graphene so that those shares can be returned to free transaction status.

 

		1.3	Hitrans Capital Increase Obligation Case Settlement

 

		1.3.1	Whereas, the said case has been closed by Shaoxing Intermediate People’s Court through mediation,
and the Civil Mediation Document has been delivered and become effective, the relating parties should comply with the obligations prescribed
by the terms of the mediation.

 

    4

     

    

 

		1.3.2	Party B, Party C and Party D confirm that prior to the closing of the said case by mediation, all the
shareholders of Hitrans had passed lawful resolutions agreeing to perform their obligations to increase the capital of Hitrans according
to the lawful valid judgement, mediation document, or order issued by People’s Court or an arbitration tribunal.

 

		1.3.3	All parties agree to attach the above Civil Mediation Document and Hitrans’s shareholders resolutions
as Appendix 2 to this Agreement and to regard them as an integral part of this Agreement.

 

		1.4	Pawn Co. against Management Shareholders Case Settlement 

 

		1.4.1	All parties agree that, Party B and Party C shall, within 10 business days from the date of the signing
of this Agreement, coordinate the Plaintiff and the Defendant of the said case to reach an enforcement settlement and discharge the pledging,
seizing and freezing of the total 25% shares of Hitrans held by Management Shareholders so that those shares can be returned to free transaction
status.

 

		2.	Provision of Loans

 

		2.1	Simultaneously with the signing of this Agreement, CBAK Power and Hitrans shall sign the Loan Agreement
attached to this Agreement as Appendix 3, the main terms of which are as follows:

 

		2.1.1	Total loan amount: RMB131,039,378.00;

 

		2.1.2	Term of loan: 21 days from release of the loan amount;

 

		2.1.3	Use of the loan: To pay the asset purchase consideration payable to New Era under (2020) Zhejiang 06 Zhi
No. 444 Enforcement Settlement;

 

		2.1.4	Loan interest rate: If CBAK Power is able to smoothly acquire 81.56% shares of Hitrans within the term
of the loan, the above loan shall be interest free. If CBAK Power is not able to smoothly acquire 81.56% shares of Hitrans within the
term of the loan, the loan interest rate shall be 4 times of the one-year loan prime rate (LPR) announced by National Interbank Funding
Center (NIFC) from the date of the release of the loan until Hitrans fully repays the above loan principal and interest. If CBAK Power
transfers its creditor’s rights under this Agreement, then the balance of the loan amount after the loan transfer shall be subject
to a loan interest at 6% per annum, and the term for the balance of the loan shall be extended to 1 year from the effective date of the
transfer of the creditor’s rights;

 

    5

     

    

 

		2.1.5	Condition for the loan: When all the following conditions are satisfied, CBAK Power will be deemed to
have advanced the above loan to Hitrans:

 

		(i)	CBAK Power has acquired 21.56% shares of Hitrans according to this Agreement;

 

		(ii)	the Settlement Agreement mentioned in Section 1.1 of this Agreement has been signed and effective;

 

		(iii)	CBAK Power has remitted the funds into the public account designated by Shaoxing Intermediate People’s
Court according to Section 1.1.1.2 of this Agreement.

 

		2.2	At the time of signing the Agreement, CBAK Power and Hitrans sign the Assets Purchase Agreement in the
form attached as Appendix 4 hereto, and agree to the following:

 

		2.2.1	If CBAK Power is not able to obtain 81.56% of Hitrans’s shares in accordance with this Agreement,
then CBAK Power has the right to immediately effectuate the Assets Purchase Agreement, which will be based on CBAK Power’s written
notice.

 

		2.2.2	After the Assets Purchase Agreement takes effect, CBAK Power has the right to select one or more of the
following approaches:

 

		2.2.2.1	If part or all of the assets set forth in Section 1.1 of this Agreement are transferred to Hitrans, then
Hitrans shall transfer such assets to CBAK Power at CBAK Power’s request, to repay the corresponding loan amount, with the repayment
value being determined in accordance with the assets transfer consideration provided in Section 1.1 of this Agreement.

 

    6

     

    

 

		2.2.2.2	If the assets set forth in Section 1.1 of this Agreement are not transferred in their entirety, and CBAK
Power does not receive the return of the repayment set forth in Section 1.1, then CBAK Power has the right to demand Hitrans to transfer
the relevant assets purchasing rights to CBAK Power, and Hitrans shall assist CBAK Power in recovering payment from the relevant parties
or demanding performance.

 

		2.2.2.3	CBAK Power may also elect to have Hitrans recover payment from relevant parties or demand performance.
Once Hitrans obtains all the assets set forth in Section 1.1 of the Agreement, such assets shall be transferred to CBAK Power.

 

		2.3	Within 5 days from the signing of this Agreement, Party C and Party D shall deliver to CBAK Power a copy
of the Resolutions of the Shareholders of Hitrans in the form attached hereto as Appendix 5, which approve the execution of the Loan Agreement
and the Assets Purchase Agreement with CBAK Power.

 

		3.	Transfer of Shares

 

		3.1	Party B obtain 22.5% shares of Hitrans and then transfer 21.56% shares to CBAK Power.

 

		3.1.1	Party B undertake that at the time of signing this Agreement, Junnan Ye has reached that shares transfer
agreement with Management Shareholders, agreeing that after the pledging, seizing and freezing of the shares mentioned in Section 1.4
of this Agreement are discharged, Junnan Ye shall obtain 22.5% shares of Hitrans held by Management Shareholders at fair price. The said
transfer of shares has already been approved by shareholders of Hitrans, and relevant shareholders have all waived their rights of first
refusal.

 

		3.1.2	Party B, Party C and Party D undertake, within 10 business days from the discharge of the pledge, seizing
and freezing of the shares mentioned in Section 1.4 of this Agreement, transfer the above 22.5% shares of Hitrans to Junnan Ye, free from
any third party rights. Thereafter, Junnan Ye shall sign the Share Transfer Agreement with CBAK Power in the form attached hereto as Appendix
6, and transfer 21.56% shares to CBAK Power, and coordinate the other shareholders of Hitrans to deliver shareholders resolutions, waiver
of rights of first refusal, amended company articles and other documents (in the form of Appendix 7).

 

    7

     

    

 

		3.1.3	The consideration for CBAK Power to acquire the above 21.56% shares of Hitrans is RMB40,744,376 (including
tax), the said sum shall be paid within 5 days after CBAK Power acquires the said shares. Party B, Party C and Party D confirm that the
consideration for the transfer of the said shares is calculated according to Hitrans’s fair value, and there do not exist any circumstances
harming the rights of Hitrans, the creditors and shareholders of Hitrans or any other third party.

 

		3.1.4	All parties agree that all the consideration paid by CBAK Power to Junnan Ye for the transfer of shares
aforesaid shall be exclusively used to repay the debt due by Management Shareholders to Pawn Co. Party B and Party C undertake that they
shall not delay the payment of Pawn Co.’s debt which may lead to the creditors, who has signed a settlement, applying to resume
enforcement.

 

		3.2	Party B acquire 60% shares of Hitrans and transfer of the said shares to CBAK Power.

 

		3.2.1	Party B undertake that at the time of signing this Agreement, Junnan Ye has reached a shares transfer
agreement with Meidu Graphene agreeing that after the seizure and freeze on the shares mentioned in Section 1.1.1.4 and Section 1.2.1
of this Agreement are discharged, Junnan Ye shall obtain 60% shares of Hitrans held by Meidu Graphene at fair price. The said transfer
of shares has obtained approval from shareholders of Hitrans and authority bodies of Meidu Graphene and Meidu Energy, and relevant shareholders
have all waived their rights of first refusal. Party B undertakes that its acquisition of 60% shares of Hitrans held by Meidu Graphene
does not involve any circumstances harming Meidu Graphene or its creditors or other third party rights, and is lawful and valid.

 

		3.2.2	Party B undertake, within 10 business days from the date of discharge of the seizing and freezing mentioned
in Section 1.1.1.4 and Section 1.2.1 of this Agreement, Junnan Ye shall obtain the above 60% shares of Hitrans, free from any attached
third party rights. Thereafter, Junnan Ye shall within 10 days of obtaining the said shares sign the Share Transfer Agreement with CBAK
Power in the form attached hereto as Appendix 8, complete the transfer of the said shares to CBAK Power in registration, and coordinate
the other shareholders of Hitrans to deliver shareholders resolutions and amended company articles. (in the form of Appendix 9).

 

    8

     

    

 

		3.2.3	Party B agrees that the consideration for CBAK Power to obtain the above 60% shares of Hitrans is RMB118,000,000.00
(including tax). The said shares consideration shall be paid by the equal value of creditor’s rights of CBAK Power towards Hitrans
formed by the loan mentioned in Section 2 of this Agreement. The above agreement shall be effective immediately upon the transfer of the
above 60% shares of Hitrans to CBAK Power in registration. Given that the creditor’s rights against Hitrans responsive to the above
60% shares of Hitrans have been transferred from CBAK Power to Junnan Ye, Hitrans and Junnan Ye shall separately execute a loan repayment
agreement. The said repayment agreement requires CBAK Power to provide joint and several liabilities guarantee for Hitrans.

 

		4.	Representations, Warranties and Covenants

 

		4.1	Each party represents, warrants and covenants to the other parties.

 

		4.1.1	It is a company lawfully incorporated under the applicable law and is validly subsisting and in good standing
or is a natural person with full capacity for civil conduct, possess full capacity for civil rights and full capacity for civil conduct
to externally and independently assume responsibilities.

 

		4.1.2	Unless otherwise agreed under this Agreement, if that party is a company, under the law applicable to
it, that party has all required power, authorization and approval to execute this Agreement and has all the required power authorization
and approval to fully perform each of its obligations under this Agreement.

 

		4.1.3	The person signing this Agreement on behalf of that party has obtained irrevocable, legal and complete
authorization, and that party should not in any circumstances challenge the other parties based on unauthorized agency, agency in excess
of authority or any other flaws in the authorization.

 

		4.1.4	The signing of this Agreement by that party does not violate any contract, agreement, company charter,
effective judgement, arbitration award, court order or administrative decision that are binding on that party.

 

		4.2	All the parties in Party B jointly and severally represent and warrant:

 

		4.2.1	Approval for engagement in the transactions mentioned in this Agreement has been obtained from other joint
owners of applicable properties (if any).

 

    9

     

    

 

		4.2.2	Its acquisition of the 60% shares of Hitrans held by Meidu Graphene has the lawful approval by the authority
body of Meidu Graphene, the transfer price for those shares is fair, and there does not exist and will not occur any circumstances harmful
to the lawful rights of Meidu Graphene, Meidu Energy and their creditors.

 

		4.2.3	It has the right to transfer the relevant Hitrans shares to CBAK Power. For the said transfer of shares,
there is no existence and there will not be any occurrence of circumstances that may result in a revocation or a restoration to original
state or a demand to CBAK Power for payment of damages, indemnity or any duty or obligation other than the payment obligation as agreed
under this Agreement.

 

		4.2.4	Within 10 days from the date the 60% shares of Hitrans mentioned in Section 3.2 of this Agreement are
transferred to Party B in registration, Party B should procure resignations from the director(s) of Hitrans nominated by Meidu Graphene
or Meidu Energy (in the form of Appendix 9 to this Agreement). The said resignation shall include resignation of all duties of the director(s)
and release of any claim against Hitrans for any compensation or indemnity or request to Hitrans for any other obligation or duty. During
the said period, if another director(s) need to be elected, it would be based on the instructions of CBAK Power.

 

		4.2.5	Juzhong Daxin should, in accordance with its agreement with CBAK Power, use the security deposit of RMB20,000,000.00
for the transaction stipulated in this Agreement, and shall, prior to CBAK Power remitting the amount to the public account designated
by the Court under Section 1.1.1.2 of this Agreement, return RMB15,000,000.00 out of the security deposit to CBAK Power, and keep the
balance of RMB5,000,000.00, by at the request of CBAK Power the issuance of a value-added tax invoice in equal amount which invoice shall
note that the amount serves as liquidated damages. The information of the account of CBAK Power is as follows:

 

Account Holder:

Bank:

Account No.:

 

		4.2.6	According to the Share Purchase Cooperation Framework Agreement executed between CBAK Power and Juzhong
Daxin, when New Era transfers the assets to Hitrans in registration and Junnan Ye pays all amounts due to Meidu Graphene, within 3 days
from the date of transfer of the shares to CBAK Power, CBAK Power shall pay all fees due to Juzhong Daxin under the Share Purchase Cooperation
Framework Agreement. Other than the foregoing, CBAK Power will not need to pay any other amounts or fees to Party B in respect of this
transaction.

 

    10

     

    

 

		4.2.7	Party B agree that if CBAK Power has to fulfil any obligation to pay or to deduct tax payment on behalf
of anyone due to the performance of this Agreement, any such payment of Party B’s tax obligation by CBAK Power can be deducted from
the costs to be paid by CBAK Power to Juzhong Daxin.

 

		4.2.8	Without the written consent of CBAK Power, Party B shall not, during the period of its holding of Hitrans
shares, change the composition of the authority bodies of Hitrans and shall not whether directly or indirectly create any third party
rights or make any arrangement to reduce or damage shareholder rights.

 

		4.2.9	Facilitate the settlement of the disputes stipulated in this Agreement and create favorable conditions
beneficial to the transactions contemplated hereby.

 

		4.3	Party C and Party D representations, warranties and covenants

 

		4.3.1	Their engagement in the transactions mentioned in this Agreement have been approved by other joint owners
(if any) of applicable assets.

 

		4.3.2	The transfer of 21.56% shares of Hitrans by Management Shareholders through Party B to CBAK Power has
been approved by the relevant authority bodies (applicable when company is the transferor), the consideration for this transaction is
fair, and there is no existence or occurrence of any circumstances that would harm the lawful rights of relevant parties or their creditors.

 

		4.3.3	Management Shareholders have the right to transfer the relevant shares of Hitrans indirectly to CBAK Power
in accordance with this Agreement. For the said transfer of shares, there is no existence and there will not be any occurrence of circumstancesthat
may result in a revocation or a restoration to original state or a demand to CBAK Power for payment of damages, indemnity or any duty
or obligation other than the payment obligation as agreed under this Agreement.

 

		4.3.4	While being a shareholder, CBAK Power will maintain the stability of the core management team and technology
team of Hitrans, and the production and operation of Hitrans in order. Without the written consent of CBAK Power, Hitrans will not dispose
of its intellectual property rights, land use rights, property ownership rights, machinery equipment, pollution discharge permit and other
material core assets.

 

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		4.3.5	If CBAK Power is not able to get 81.56% shares of Hitrans as agreed, CBAK Power has the right within 1
month to choose to demand Party C or Party D to repurchase all the shares held by CBAK Power at an interest rate of 10% per annum (simple
interest) within 1 month. Share repurchase price = all investment by CBAK Power x (1 + 10%) x (number of days shares are held by CBAK
Power ÷365). The repurchase price should be paid within 1 month. If CBAK Power is not able to get 81.56% shares of Hitrans as agreed,
and CBAK Power has not within 1 month demanded Party C or Party D to repurchase all the shares held by CBAK Power at the 10% per annum
interest rate (simple interest), then CBAK Power should compensate Management Shareholders with RMB11,000,000.00 and pay the same within
3 days.

 

		4.3.6	Facilitate the settlement of the dispute stipulated in this Agreement and create favorable conditions
beneficial to the transactions contemplated hereby.

 

		4.3.7	While CBAK Power holds Hitrans shares, Hitrans shall timely provide company operation and financial data
to the shareholders according to requirements of relevant laws.

 

		5.	Default

 

		5.1	Any party (“Defaulting Party”) who does not perform any obligation according to this
Agreement or as agreed under any main or supplemental agreement or related agreement relating to or originating from the transactions
under the Agreement, or any party who makes any declaration, guarantee, agreement, representation and undertaking in this Agreement or
in the main or supplemental agreement or related agreement relating to or originating from the transactions under this Agreement, which
is proved to be false, the party shall be regarded to conduct a default. The Defaulting Party shall from the date of the default pay to
the Non-Defaulting Party liquidated damages calculated from the date of default at the rate of 10/10,000 per day on the amount paid or
on the amount unpaid (non-monetary debt shall be calculated according to the corresponding transaction consideration). If the default
is over 15 days, the Non-Defaulting Party has the right to unilaterally rescind this Agreement and demand the Defaulting Party to be responsible
for other damages caused by the default.

 

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		5.2	All parties confirm and agree that the liquidated damages agreed under this Agreement are the reasonable
anticipation and calculation by all parties. All parties hereby waive their respective civil rights to request reduction of the said liquidated
damages.

 

		5.3	The Defaulting Party also have to be responsible for the damages to the Non-Defaulting Party caused by
the Defaulting Party’s default, including, but not limited to, lawyer’s fees, consultation fee, evaluation fee, execution
fee, litigation fee, audit or liquidation fee which the Non-Defaulting Party has to pay, as well as other extra expenses or costs which
the Non-Defaulting Party has to pay because relating transactions are forced to discontinue, terminate or postpone.

 

		6.	Dispute Resolution

 

		6.1	Any dispute arising under this Agreement or relating to this Agreement, including but not limited to,
main and supplemental agreement relating to this Agreement and originating from the same transaction or same series of transaction, the
agreements in Appendixes, other agreements signed for the implementation of the present transactions, whether appearing before or after
the signing of this Agreement, whether the amount is big or small, all should be presented to Shanghai Arbitration Commission for arbitration
in ordinary procedures under the existing effective Shanghai Arbitration Commission Arbitration Rules. Arbitration award is final and
is binding upon all parties.

 

		6.2	Arbitration fee, valuation fee, notarization fee, lawyer’s fee, preservation fee, travelling expenses,
and witness fee, etc., arising out of arbitration and all expenses relating to the case shall be borne by the losing party.

 

		7.	Notice

 

		7.1	Any notice or other correspondence document sent from one party to the other parties under this Agreement
shall be in writing and written in Chinese.

 

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		7.2	Unless otherwise agreed in this Agreement, any party sending notice under this Agreement can be by personal
delivery, recognized courier service, registered mail or electronic mail to the addresses of the parties:

 

CBAK Power:designated
contacted person is

Mailing
address:

Telephone:

Email:

 

Junnan Ye and Juzhong
Daxin: designated contacted person is Junnan Ye

Mailing
address:

Telephone:

Email:

 

Haijun
Wu、Chunhong Shi: 

Mailing
address:

Telephone:

Email:

 

Hitrans:designated
contacted person is Haijun Wu

Mailing
address:

Telephone:

Email:

 

		7.3	Any notice clearly stating the mailing address of the receiving party shall be deemed to have been duly
delivered at the following prescribed time:

 

		7.3.1	by personal delivery (including through recognized courier service), shall be deemed to have been duly
delivered upon delivery to the receiving party’s mailing address, even if the receiving party refused to receive, it is still deemed
to have been delivered;

 

		7.3.2	by registered mail, shall be deemed to have been delivered on the 7th day of posting;

 

		7.3.3	notice sent by email shall be deemed to be duly delivered on the first business day after the sending
(the time recorded in the computer of the dispatching party) of the email;

 

		7.4	Any party changing the above contact information must give advance notice to the other parties. The new
contact information mentioned in the notice shall be effective commencing from the following dates:

 

		7.4.1	the effective date indicated in the notice; or

 

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		7.4.2	if no effective date is indicated or the indicated effective date is less than 10 days from the date of
issue of the notice, the change will become effective on the 10th day after the issue of the notice.

 

		8.	Others

 

		8.1	This Agreement shall be effective on the date when all parties and their legal representative or authorized
agent have signed and the official seal stamped thereon.

 

		8.2	On the date when this Framework Agreement becomes effective, it will replace all matters agreed prior
to the signing of this Framework Agreement, and any negotiations through correspondence emails, letters, memorandum, WeChat, meetings,
etc. Also, if there is any conflict or inconsistency between any legal document signed by the above parties and this Framework Agreement,
this Framework Agreement shall prevail.

 

		8.3	If there are further details to this Agreement, the parties can sign a supplemental agreement. Supplemental
agreement and this Agreement have the same legal effect. If there is conflict between the supplemental agreement and this Agreement, the
supplemental agreement shall prevail.

 

		8.4	At the time of signing this Agreement, each party has a clear, accurate and full understanding and decision
of all the terms and conditions of this Agreement, and on this basis voluntarily and friendly negotiate and accept the rights, obligations
and duties agreed in this Agreement. The drafting or amending of this Agreement by any party or any interim documents cannot be construed
as proof or evidence to acquire or avoid rights, obligations or duties agreed under this Agreement.

 

		8.5	This Agreement is executed in six counterparts, each party keeps one counterpart, and each counterpart
has the same legal effect.

 

(no contents
below, signature page)

 

    15

     

    

 

(signature
page to the Framework Agreement Relating to Investment of Dalian CBAK Power

 Battery Co., Ltd. in Zhejiang Meidu Hitrans Lithium Battery
Technology Co., Ltd)

 

	Party A	DALIAN CBAK POWER BATTERY CO., LTD.	 
	 	Seal: Dalian CBAK Power Battery Co., Ltd.	 
	 	Authorized Representative: 	/s/ Yunfei Li	 
	 	 	 
	 	 	 
	Party B	/s/ JUNNAN YE	 
	 	 	 
	 	HANGZHOU JUZHONG DAXIN ASSET MANAGEMENT CO., LTD.	 
	 	Seal: Hangzhou Juzhong Daxin Asset Management Co., Ltd.	 
	 	Authorized Representative: 	/s/ Yunjun Luo 	 
	 	   	 
	 	 	 
	Party C	/s/ HAIJUN WU	 
	 	 	 
	 	/s/ CHUNHONG SHI	 
	 	   	 
	 	 	 
	Party D	ZHEJIANG MEIDU HITRANS LITHIUM BATTERY TECHNOLOGY CO., LTD	 
	 	Seal: Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd	 
	 	Authorized Representative: 	/s/ Haijun Wu	 

 

    16

     

    

 

Appendix
1: Enforcement Settlement Agreement

 

(Enforcement Settlement Minutes referred to in Section
1 of this Agreement)

 

     

     

    

 

Appendix
2: Civil Mediation Document and Hitrans’s Shareholders Resolutions

 

(Civil Mediation Document referred to in Section
1.3.3 of this Agreement relating to the Hitrans Capital Increase Obligation Case and the Resolutions of Shareholders of Hitrans)

 

     

     

    

 

Appendix 3: Loan Agreement

 

This Loan Agreement (“this Agreement”)
is executed on the ______ day of July 2021 by the following parties:

 

Lender (Party
A): Dalian CBAK Power Battery Co., Ltd. (hereinafter referred to as “CBAK Power”)

 

Legal
Representative: Yunfei Li

 

Borrower
(Party B): Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd (hereinafter referred to as “Hitrans”)

 

Legal Representative:
Haijun Wu

 

Clause
1 Purpose of the Loan

 

		1.	The purpose of the loan under this Agreement is to be entirely used to pay the consideration for the purchase
of the assets (Attachment 1) of New Era Group Zhejiang New Energy Materials Co., Ltd. by Hitrans.

 

		2.	Without the written consent of CBAK Power, Hitrans cannot change the purpose of the loan confirmed under
this Agreement.

 

Clause
2 Loan Amount and Maturity Date

 

		1.	The loan amount under this Agreement is RMB One Hundred and Thirty One Million Thirty Nine Thousand Three
Hundred and Seventy Eight (CNY131,039,378.00) (if words and figures are not the same, words prevail, same for below).

 

		2.	All parties under this Agreement unanimously agree that from the date CBAK Power remitted the fund into
Shaoxing Intermediate People’s Court’s public account, the loan is deemed to have been released.

 

    1

     

    

 

		3.	The term of the loan under this Agreement is 21 days from the actual date of the release of the funds.
Bank transfer records are the accurate evidence of the actual funds release date and repayment date. Bank transfer records form part of
this Agreement and have the same legal effect as this Agreement.

 

Clause
3 Conditions for the Loan

 

The following conditions must be satisfied before
the remittance of funds by CBAK Power into the Shaoxing Intermediate People’s Court’s public account:

 

		1.	CBAK Power already legally holds 21.56% of Hitrans’s shares and has already obtained proof of share
registration issued by the Administration for Industry and Commence and has become a shareholder of Hitrans.

 

		2.	CBAK Power, according to its company articles, U.S. Nasdaq Securities Listing Rules and regulations of
related regulatory authorities, has approved this Agreement and the related series of transactions under this Agreement.

 

Clause
4 Loan Interest

 

		1.	During the term of the loan under this Agreement, if

 

		(1)	CBAK Power is able to obtain at least 81.56% shares of Hitrans and obtain share registration proof issued
by the Administration for Industry and Commerce, then the loan will be interest free;

 

		(2)	CBAK Power is not able to obtain at least 81.56% shares ofHitrans
and does not acquire share registration proof issued by the Administration for Industry and Commerce, then the interest rate for the
said loan shall be 4 times of the one-year loan prime rate (LPR) announced by National Interbank Funding Center, from the actual date
of release of the loan until Hitrans has fully repaid the above loan principal and interest;

 

		(3)	If during the term of the loan, CBAK Power transfers its creditor’s rights mentioned in this Agreement,
then the balance of the loan amount after the loan transfer shall be subject to loan interest at 6% per annum, the term of the balance
of the loan amount shall be changed and extended to 1 year from the effective date of the transfer of the creditor’s rights.

 

    2

     

    

 

Clause 5 Undertakings
and Covenants

 

		1.	Undertakings and covenants of Hitrans

 

		(1)	Access and use the loan in accordance with the deadlines and purpose outlined in this Agreement.

 

		(2)	Ensure the truthfulness, accuracy, and completeness of the materials provided to CBAK Power for the grant
of this loan.

 

		(3)	Repay the loan principal and interest in full in accordance with the terms of this Agreement.

 

		(4)	If proceeding with contract leasing, share ownership reform, joint venture, merger, consolidation, joint
funding, separation, reduction of capital, share right change, major asset transfer and other actions which will affect the implementation
of the rights of CBAK Power, should give at least 30-day prior written notice to CBAK Power and obtain the written consent from CBAK Power,
or otherwise, must not proceed with the above actions prior to the repayment in full of all of the debt liabilities.

 

		(5)	CBAK Power must be given written notice within seven days of a change of residence, mailing address, business
scope, legal representative, or matters of industry and commerce registration.

 

		(6)	Written notice must immediately be given to CBAK Power, if any event happens that would cause danger to
its normal operation or would adversely affect the obligation to repay the loan under this Agreement, including but not limited to major
financial disputes, bankruptcy, deteriorating financial conditions, etc.

 

		(7)	CBAK Power must be provided written notice with five days of the temporary or permanent closing of business,
dissolution of business, halting of business for reorganization, or the revocation/cancellation of one’s business license.

 

    3

     

    

 

Clause 6 Default

 

		1.	Under this Agreement, any one party (“Defaulting Party”) who is not able to perform any of
its obligations according to this Agreement or who makes any declaration, warranties, agreement, representations and undertaking in this
Agreement which is proved to be false or there is anything which may cause the implementation of the creditor’s rights of CBAK Power
under this Agreement to be threatened or suffer major damages, these shall be regarded as a default.

 

		2.	The Non-Defaulting Party has the right to
demand in writing the Defaulting Party to correct and implement remedial measures according to the demands of the Non-Defaulting Party.
If the Defaulting Party does not promptly correct and implement remedial measures, they must pay the Non-Defaulting Party liquidated
damages equivalent to 5/10,000 of the loan amount of RMB One Hundred and Thirty One Million Thirty Nine Thousand Three Hundred and Seventy
Eight (CNY131,039,378.00) for each day of delay. All parties confirm and agree that all parties waive their respective rights to apply
for an increase or reduction of the said liquidated damages and there is no need to prove direct or indirect loss.

 

		3.	The Defaulting Party also must assume responsibility for all the damages suffered by the Non-Defaulting
Party resulting from the Defaulting Party’s default, including but not limited to : lawyer’s fees, consultation fees, evaluation
fees, implementation fees, litigation fees, audit or liquidation fees which the Non-Defaulting Party has to pay, as well as other extra
expenses or costs which the Non-Defaulting Party has to pay because relating transactions are forced to be discontinued, terminated or
postponed.

 

Clause
7 Force Majeure

 

		1.	Force majeure events mentioned in this Agreement refer to any event which a party is unable to reasonably
control, unforeseeable or even if it is foreseeable is unavoidable and impossible to surmount, and appears after the execution of this
Agreement, causing the total or partial performance of this Agreement objectively impossible or unrealistic, including but not limited
to epidemic, flooding, fire, typhoon, earthquake and other natural disasters, strike, disturbance, riot and war (whether or not war declared)
etc.

 

    4

     

    

 

		2.	If force majeure event occurs, the affected party should immediately use the fastest method to notify
the opposite party, and within 15 days after the date of the force majeure event provide sufficient evidence to prove the following facts:
their inability to fulfill their obligations due to obstructions which they could not control and at the time of execution of the Agreement
could not reasonably foresee or its effects on their capacity to perform, and they were unable to reasonably avoid and surmount the said
obstruction or its effects.

 

		3.	When any party cannot perform this Agreement due to a force majeure event, part or all obligations can
be exempted according to the effects of the force majeure event, unless otherwise provided in law or regulations. If a force majeure event
occurs after one party delays in performance, obligation cannot be exempted.

 

		4.	The party suffering from force majeure should, after they know about such an obstruction and its effect
on their capacity to perform, notify all other parties as soon as reasonably possible, and submit to the other parties reliable third-party
proof about the suffering caused by the force majeure event and a reasonable assessment of the scope of the influence of the force majeure
and its duration. The party affected has the duty to take all kind of commercially reasonable measures to surmount the effects of the
force majeure event and resume their performance in accordance with the Framework Agreement. When force majeure element is removed, it
should also inform the other parties. If unable to send notice, then that party cannot exempt liabilities due to force majeure.

 

		5.	The party suffering from force majeure should take all necessary measures to reduce loss suffered as a
result of the force majeure, and after the event’s conclusion immediately resume the performance of this Agreement, unless such
performance is impossible or unnecessary. If one party is unable to perform their obligations under this Agreement, the other parties
should have the right to terminate part or whole of the Agreement. When a party terminates the agreement, they should send agreement termination
notice to the other party.

 

    5

     

    

 

		6.	All parties agree that if the force majeure event and the resulting consequences continue to exist for
90 days (starting from the date the force majeure event occurs) which causes either both parties or any one party to suffer great financial
loss and both parties are not able to agree on a corresponding solution method or remedial measures, then any one party has the right
to unilaterally terminate this Agreement.

 

Clause
8 Dispute Resolution

 

		1.	Any dispute arising under this Agreement or relating to this Agreement, including but not limited to,
transactions originating from or related to this agreement or same series of transaction and related agreements; regardless of whether
appearing before or after the signing of this Agreement, regardless of the size of the amount, all should be presented to Shanghai Arbitration
Commission for arbitration via ordinary procedures. The arbitration award is final and is binding upon all parties.

 

		2.	The arbitration fees, evaluation fees, notarization fees, legal fees, preservation fees, travelling expenses,
witness fees etc. arising out of arbitration and all expenses relating to the case shall be borne by the losing party.

 

Clause
9 Notice

 

		1.	Any notice or other correspondence document (hereinafter collectively referred to as “notice”)
sent from one party to the other parties under this Agreement shall be in writing and written in Chinese.

 

		2.	Unless otherwise agreed in this Agreement, any party sending notice under this Agreement can be by personal
delivery, recognized courier service, registered mail or electronic mail to the following addresses of the parties:

 

Hitrans: designated
person of contact is Chunhong Shi

 

Mailing
address:

 

Telephone:

 

Email:

 

    6

     

    

 

		3.	Any notice clearly stating the mailing address of the receiving party shall be deemed to have been duly
delivered at the following prescribed time:

 

		(1)	by personal delivery (including through recognized courier service), shall be deemed to have been duly
delivered upon delivery to the receiving party’s mailing address, even if the receiving party refused to receive, it is still deemed
to have been delivered;

 

		(2)	by registered mail, shall be deemed to have been delivered
on the 7th day after posting;

 

		(3)	notice sent by email shall be deemed to be duly delivered
on the first working day after the sending (the time recorded in the computer of the dispatching party) of the email;

 

		4.	Any party changing the above correspondence information must give advance notice to the other parties,
the new correspondence information mentioned in the notice shall be effective commencing from the following dates:

 

		(1)	the effective date indicated in the notice; or

 

		(2)	if no effective date is indicated or the indicated effective date is less than 10 days from the date of
issue of the notice, the change will be effective on the 10th day after the issue of the notice.

 

Clause
10 Effectiveness, Modification and Termination

 

		1.	This Agreement is effective after all parties’ legal representative, responsible person or authorized
agent have signed the Agreement and affixed the official seal thereon.

 

		2.	If any clause or part of the content of any term is or will in future become invalid, the said invalid
clause or the said invalid part will not affect the validity of this Agreement and the other terms or the other contents of the said clause.

 

    7

     

    

 

		3.	If there are further details to this Agreement, the parties can sign a supplemental agreement. Supplemental
agreements and this Agreement have the same legal effect. If there is conflict between the supplemental agreement and this Agreement,
the supplemental agreement shall prevail.

 

		4.	If this Agreement cannot be performed or cannot be totally performed due to law, regulations or change
of government policy, upon unanimous agreement of all parties, this Agreement can be terminated partly or entirely. The damages caused
thereby shall be shared among the parties based on fair negotiation.

 

		5.	Use of information of Hitrans

 

Hitrans agrees
to authorize CBAK Power to contact Basic Database of Financial Credit Information and credit bureaus approved by People’s Bank of
China to inquire about the credit record of Hitrans and also agrees that CBAK Power can provide credit information concerning Hitrans
to the Basic Database of Financial Credit Information and credit bureaus approved by People’s Bank of China.

 

		6.	Hitrans agrees that CBAK Power has the right without separate confirmation/consent from Hitrans to reveal
voluntarily or upon reasonable request any material information or data of Hitrans any time to financial institutions, intermediary service
agency, district share markets, internet financial platforms and investors relating to financing under the main agreement and relative
regulatory authorities, government authorities and self-regulatory associations within the industry.

 

		7.	All obligations and duties of Hitrans under this Agreement have continuity and is totally binding upon
its successor, receiver, assignee and the corporate body after a merger, reorganization, or change of name etc., and will not be affected
by any dispute, claim and legal procedure and direction from a superior power and any agreement or document executed between the main
agreement creditor and any natural person or legal person, and will not have any change because the debtor under the main agreement is
bankrupt, has no ability to repay debts, has lost business qualifications, change incorporation article or there is occurrence of any
inherent change.

 

		8.	This Agreement is in two counterparts, each party keeps one counterpart, and each counterpart has equal
legal effect.

 

		9.	Attachment: Asset Particulars

 

(no contents
below, signing page)

 

    8

     

    

 

(Signature Page)

 

When executing this Agreement, each party shall
have read all of the provisions of the Agreement, hold no dissent, and have an accurate understanding of the legal relationships between
the parties and the rights and obligations prescribed by the provisions.

 

Lender: 

Dalian CBAK
Power Battery Co., Ltd.

 

Seal: Dalian
CBAK Power Battery Co., Ltd.

Legal Representative
(or authorized representative): /s/ Yunfei Li

 

 Borrower:

Zhejiang Meidu
Hitrans Lithium Battery Technology Co., Ltd

 

Seal: Zhejiang
Meidu Hitrans Lithium Battery Technology Co., Ltd

Legal Representative:/s/
Haijun Wu

 

Attachment:
Asset Particulars

 

    9

     

    

 

Appendix 4: Assets Purchase
Agreement

 

This Agreement is executed by the following parties
this 20th day of July 2021

 

Seller:
Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd(hereinafter referred to as “Hitrans”)

 

Legal Representative: Haijun Wu

 

Purchaser: Dalian CBAK Power Battery Co.,
Ltd. (hereinafter referred to as “CBAK Power”)

 

Legal Representative:
Yunfei Li

 

		WHEREAS:	

 

		1.	At the time of signing of this Agreement, CBAK Power and Hitrans has already executed the Framework Agreement
Relating to Dalian CBAK Power Battery Co., Ltd.’s Investment in Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd (hereinafter
referred to as “Framework Agreement”) and “Settlement Agreement Regarding the Enforcement Proceeding of (2020) Zhejiang
06 Zhi No. 444” (hereinafter referred to as “Settlement Agreement”).

 

		2.	Upon the satisfication of the conditions precedent agreed in the Framework Agreement and the Settlement
Agreement, CBAK Power shall advance a loan of RMB131,039,378.00 to Hitrans so as to pay the asset purchase consideration payable by Hitrans
to New Era Group Zhejiang New Energy Materials Co., Ltd. (hereinafter referred to as “New Era”) under the Settlement Agreement.
Within 35 days from the date the said loan is remitted into the public account of the enforcement Court (Zhejiang Shaoxing Intermediate
People’s Court), the above assets of New Era transferred to Hitrans shall have their registration changed to under the name of Hitrans
free from encumbrances and third party rights (save and except those disclosed in that Asset Transfer Agreement) according to the Settlement
Agreement.

 

    1

     

    

 

		3.	Hitrans agrees that if CBAK Power is not able to obtain 81.56% shares of Hitrans as agreed, then the relating
assets owned at that time by Hitrans as agreed under this Agreement shall be used to repay the above loan amount. Therefore, all parties
upon negotiation, have reached the following agreements, to be abide by the parties:

 

		I.	Object of Sale and Purchase (that is the assets to be purchased by Hitrans from New Era under the Settlement
Agreement)

 

	No.	 	Name	 	Serial No. and Details	 	Consideration
	1.	 	Immovable Property	 	Real estate certificate 0030391 (former state-owned Land use right certificate, Shangyu City State-owned (2012) No. 09842; Original Building Ownership Certificate: 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263316, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263309, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263306, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263307, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263311, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263312, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263308, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263313, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263310, 
Shangyu City Real Estate Certificate Gaibei Town Zi No. 00263314, 
Four Cobalt real estate (no certificate), Calcined real estate (powder workshop 2) (no certificate), Powder Workshop (no certificate), Wet Method Phase I Civil Engineering (no certificate), environmental protection online monitoring room (no certificate))	 	RMB95,471,827.00
	 	 	 	 	 	 	 
	2.	 	Machinery Equipment	 	mainly include equipment used in production, including new battery materials burning furnace, ammonia nitrogen content water treatment and recycle ammonia water resources 
utilization system, pure water preparation system, power facilities, etc.	 	RMB26,870,451.00
	 	 	 	 	 	 	 
	3.	 	Project Under Construction	 	environmental project	 	RMB540,562.00
	 	 	 	 	 	 	 
	4.	 	Pollution Discharge Permit	 	Certificate No. 913306044780463953W001P 
Valid period: 24th August 2020 ~ 23rd August 2023	 	RMB8,156,538.00

 

    2

     

    

 

		II.	Execution, Effectiveness and Asset Purchase

 

		1.	This Agreement is entered into upon execution by legal representative or authorized representative of
both parties and official stamp affixed.

 

		2.	If CBAK Power shall not be able to obtain 81.56% shares of Hitrans according to the provisions of the
Framework Agreement, then CBAK Power has the right to decide this Assets Purchase Agreement to be effective immediately, which shall be
based on the written notice by CBAK Power at that time.

 

		3.	After this Assets Purchase Agreement becomes effective, CBAK Power has the right to choose one or any
number of the following ways to handle this matter:

 

		(1)	If all or part of the above target assets are transferred to under the name of Hitrans, then Hitrans should,
according to the request of CBAK Power, transfer the said assets to under the name of CBAK Power or its designated related party, so as
to offset the corresponding loan. The amount to be offset shall be determined according to the asset purchase consideration agreed in
section 1.1 of the Framework Agreement and Settlement Agreement.

 

		(2)	If the above target assets are not able to be totally transferred, and the corresponding purchase price
provided by CBAK Power according to section 1.1 of the Framework Agreement is not returned, then CBAK Power has the right to request Hitrans
to transfer to CBAK Power the corresponding asset purchase rights, and Hitrans shall assist CBAK Power to obtain recovery or to demand
specific performance from related responsible parties.

 

		(3)	CBAK Power can also choose that Hitrans shall commence recovery or demand specific performance from related
responsible parties, and to transfer to CBAK Power all the assets mentioned in section 1.1 of the Framework Agreement after Hitrans has
obtained the same.

 

		III.	Others

 

		1.	This Agreement as an attachment to the Framework Agreement is an integral part of the Framework Agreement.
The terms in the Framework Agreement relating to Default Obligation, Dispute Resolution and Notice apply to this Agreement.

 

		2.	If there are matters that this Agreement fails to cover, the parties can sign a supplemental agreement.
Supplement agreement and this Agreement have the same legal effect. If there is conflict between the supplemental agreement and this Agreement,
the supplemental agreement shall prevail.

 

		3.	This Agreement is executed in duplicate, each party keeps one counterpart, and each counterpart has the
same legal effect.

 

(no contents
below, signature page)

 

    3

     

    

 

(Signature
Page)

 

	Zhejiang Meidu Hitrans Lithium Battery Technology Co.,
    Ltd 
	Seal: Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd

Authorized Representative: /s/ Haijun Wu

 

	Dalian CBAK Power Battery Co., Ltd.
	Seal: Dalian CBAK Power Battery Co., Ltd.

Authorized Representative: /s/ Yunfei Li

 

    4

     

    

 

Appendix
5: Form of Hitrans’s Shareholders Resolutions Approving the Loan

 

(Form of Resolutions of Shareholders of Hitrans
approving the Loan and relevant matters referred to in Section 2.3 of this Agreement)

 

     

     

    

 

Appendix 6: Share Transfer
Agreement

 

Transferor:
Junnan Ye

 

Transferee:
Dalian CBAK Power Battery Co., Ltd.

 

Transferor and
Transferee, through friendly negotiation, have executed the following agreement relating to the transfer by Transferor of his shares in
Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd to Transferee:

 

		1.	Transferor shall transfer 21.56% shares of Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd
held by him to Transferee.

 

		2.	For this transfer of shares, the transfer consideration is RMB40,744,376.00.

 

		3.	Relating to the unpaid subscribed capital for this shares transfer, Transferee shall fully pay the same
according to the agreed schedule.

 

		4.	After the transfer of shares, Transferor no longer enjoys the shareholder’s rights nor undertakes
the corresponding shareholder’s obligations; Transferee shall, according to this Agreement, enjoy the shareholder’s rights
and at the same must undertake the shareholder’s obligation.

 

		5.	This Agreement shall be effective upon execution by the parties.

 

Transferor:
/s/ Junnan Ye

 

 Transferee:

Seal: Dalian
CBAK Power Battery Co., Ltd.

Authorized Representative: /s/ Yunfei Li

 

		Date:

 

     

     

    

 

Appendix 7:
Form of Hitrans’s Shareholders Resolutions and Charter Amendment Regarding CBAK Power’s Acquisition of 21.56% Shares

 

(Form of Shareholders Resolutions of Hitrans relating
to Junnan Ye’s Transfer of 21.56% Shares of Hitrans to CBAK Power, Waiver of Rights of First Refusal and Amended Company Charter
as referred to in Section 3.1.2 of this Agreement) 

 

     

     

    

 

Appendix 8: Share Transfer
Agreement

 

Transferor:
Junnan Ye

 

Transferee:
Dalian CBAK Power Battery Co., Ltd.

 

Transferor and
Transferee, through friendly negotiation, have executed the following agreement relating to the transfer by Transferor of his shares in
Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd to Transferee:

 

		1.	Transferor shall transfer 60% of shares responsive to RMB24,000,000.00 in subscribed capital (of which
RMB8,500,000.00 is unpaid) of Zhejiang Meidu Hitrans Lithium Battery Technology Co., Ltd held by him to Transferee.

 

		2.	For this transfer of shares, the transfer consideration is RMB118,000,000.00. Transferor shall, within
2 days from the date of receipt of any part of the transfer consideration, transfer the same amount of money into the bank account of
Zhejiang Meidu Graphene Technology Co., Ltd.

 

		3.	As to the unpaid subscribed capital in connection with this shares transfer, Transferee shall fully pay
the same according to the agreed schedule.

 

		4.	After the transfer of shares, Transferor no longer enjoys the shareholder’s rights nor undertakes
the corresponding shareholder’s obligations; Transferee shall, according to this Agreement, enjoy the shareholder’s rights
and at the same must undertake the shareholder’s obligation.

 

		5.	This Agreement shall be effective upon execution by the parties.

 

Transferor: /s/
Junnan Ye

 

 Transferee:

Seal: Dalian
CBAK Power Battery Co., Ltd.

Authorized Representative: /s/ Yunfei Li

 

 Date:                         

 

     

     

    

 

Appendix 9:
Form of Hitrans’s Shareholders Resolutions and Charter Amendment Regarding CBAK Power’s Acquisition of 60% Shares

 

(Form of Hitrans’s Shareholders Resolutions
and Charter Amendment Relating to Junnan Ye’s transfer of 60% shares of Hitrans to CBAK Power as referred to in Section 3.2.2 of
this Agreement)

 

     

     

    

 

Appendix
10: Form of Resignation

 

(Form of Resignation as referred to in Section 4.2.4
of this Agreement)

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