Document:

Exhibit 10.1

 

FORM OF STOCKHOLDER AGREEMENT

 

This STOCKHOLDER AGREEMENT (this “Agreement”) is made and entered into as of February 22, 2016 by and between MKS INSTRUMENTS, INC., a Massachusetts corporation (“Parent”), and the undersigned stockholder (“Stockholder”) of NEWPORT CORPORATION, a Nevada corporation (the “Company”).

 

W I T N E S S E T H:

 

WHEREAS, concurrently with the execution and delivery hereof, Parent, PSI Equipment, Inc., a Nevada corporation and a wholly owned Subsidiary of Parent (“Merger Sub”), and the Company are entering into an Agreement and Plan of Merger of even date herewith (as it may be amended or supplemented from time to time pursuant to the terms thereof, the “Merger Agreement”), which provides for the merger (the “Merger”) of Merger Sub with and into the Company in accordance with its terms and subject to its conditions;

 

WHEREAS, Stockholder is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of such number of shares of each class of capital stock of the Company as is indicated on the signature page of this Agreement; and

 

WHEREAS, as a material inducement to the willingness of Parent and Merger Sub to enter into the Merger Agreement, Parent has required that Stockholder enter into this Agreement;

 

NOW, THEREFORE, in consideration of the premises, and of the representations, warranties, covenants and agreements contained herein, and intending to be legally bound hereby, Parent and Stockholder hereby agree as follows:

 

1.                                      Certain Definitions.  Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed thereto in the Merger Agreement.  For purposes of this Agreement, the following terms shall have the respective meanings set forth below:

 

(a)         “Constructive Sale” means with respect to any security, a short sale with respect to such security, entering into a futures or forward contract to deliver such security or entering into any other transaction that has the effect of either directly or indirectly pledging, encumbering or assigning such security.

 

(b)         “Shares” means (i) all shares of capital stock of the Company owned, beneficially or of record, by Stockholder as of the date hereof, and (ii) all additional shares of capital stock of the Company acquired by Stockholder, beneficially or of record, during the period commencing with the execution and delivery of this Agreement and expiring on the Expiration Date (as such term is defined in Section 7); provided, that no Share that is Transferred by Stockholder in a manner expressly permitted by this Agreement shall be deemed a Share for the purposes of this Agreement following such Transfer.

 

(c)          “Transfer” means, with respect to any security, the direct or indirect assignment, sale, transfer, tender, exchange, pledge, hypothecation, or the grant, creation or

 

 

suffrage of a Lien upon, or the gift, grant or placement in trust, or the Constructive Sale or other disposition of such security (including transfers by testamentary or intestate succession, by domestic relations order or other court order, or otherwise by operation of law) or any right, title or interest therein (including any right or power to vote to which the holder thereof may be entitled, whether such right or power is granted by proxy or otherwise), or the record or beneficial ownership thereof.

 

2.                                      Transfer and Voting Restrictions.

 

(a)         At all times during the period commencing with the execution and delivery of this Agreement and expiring on the Expiration Date (as defined in Section 7), Stockholder shall not, except in connection with the Merger, Transfer or suffer a Transfer of any of the Shares.  Notwithstanding anything to the contrary in this Agreement, this Section 2(a) shall not prohibit a Transfer of the Shares by Stockholder (i) to any Person who is a family member of Stockholder (as the term “family member” is defined by Form S-8 promulgated under the Securities Act (or any successor or comparable form)), (ii) upon the death of Stockholder, (iii) pursuant to any written trading plan in effect on the date of this Agreement intended to satisfy the requirements of Rule 10b5-1 under the Exchange Act, (iv) to an Affiliate of Stockholder, (v) that results from the withholding by the Company, or sale by Stockholder, to the extent necessary to cover Taxes incurred upon (1) the exercise and settlement of any Company SAR of Stockholder that otherwise would expire in accordance with its terms prior to the Expiration Date, or (2) the vesting of any Company RSU of Stockholder prior to the Expiration Date, or (vi) to any person or entity if and to the extent required by any non-consensual legal order, by divorce decree or similar Law; provided, that a Transfer referred to in clauses (i), (ii) and (iv) of this sentence shall be permitted only if, as a precondition to such Transfer, the transferee agrees in writing to be bound by all of the terms of this Agreement.

 

(b)         Except as otherwise permitted by this Agreement or by order of a court of competent jurisdiction, Stockholder will not knowingly or intentionally commit any act that would reasonably be expected to restrict or affect Stockholder’s legal power, authority and right to vote any of the Shares.  Without limiting the generality of the foregoing, except for this Agreement and as otherwise permitted by this Agreement, Stockholder shall not enter into any voting agreement with any Person with respect to any of the Shares, grant any Person any proxy (revocable or irrevocable) or power of attorney with respect to any of the Shares, deposit any of the Shares in a voting trust or otherwise enter into any agreement or arrangement with any Person limiting or affecting Stockholder’s legal power, authority or right to vote any of the Shares in favor of the approval of the Proposed Transaction (as such term is defined in Section 3).

 

(c)          In furtherance of this Agreement, and concurrently herewith, Stockholder shall and hereby does authorize the Company or the Company’s counsel to notify the Company’s transfer agent that there is a stop transfer order with respect to all of the Shares during the time this Agreement is in effect.  At the request of Parent, Stockholder shall cause to be provided to Parent evidence of such stop transfer order.

 

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3.                                      Agreement to Vote Shares.

 

(a)         Prior to the Expiration Date, at every meeting of the stockholders of the Company called, and at every adjournment or postponement thereof, and on every action or approval by written consent of the stockholders of the Company, Stockholder (in Stockholder’s capacity as such) shall appear at the meeting or otherwise cause the Shares to be present thereat for purposes of establishing a quorum and, to the extent not voted by the Persons appointed as proxies pursuant to this Agreement, vote (i) in favor of the adoption and approval of the Merger Agreement and the approval of the other transactions contemplated thereby (collectively, the “Proposed Transaction”), (ii) against the approval or adoption of any proposal made in opposition to, or in competition with, the Proposed Transaction, and (iii) against any Acquisition Proposal or any other action that could reasonably be expected to impede, interfere with, delay, postpone, discourage or adversely affect the consummation of the Proposed Transaction.  Notwithstanding the foregoing, nothing in this Agreement shall require Stockholder to vote or otherwise consent to any amendment to the Merger Agreement or the taking of any action that would result in the amendment, modification or a waiver of a provision therein, in any such case, in a manner that decreases the amount or changes the form of the Merger Consideration.  Except as expressly set forth in this Section 3(a), Stockholder shall not be restricted from voting in favor of, against or abstaining with respect to any other matter presented to the stockholders of the Company.

 

(b)         If Stockholder is the beneficial owner, but not the record holder, of any of the Shares, Stockholder agrees to take all actions necessary to cause the record holder and any nominees to vote all of the Shares in accordance with Section 3(a).

 

4.                                      Grant of Irrevocable Proxy.

 

(a)         Stockholder hereby irrevocably appoints, until the Expiration Date, Parent and each of its executive officers or other designees (the “Proxyholders”), as Stockholder’s proxy and attorney-in-fact (with full power of substitution and re-substitution), and grants to the Proxyholders full authority, for and in the name, place and stead of Stockholder, to vote the Shares, to instruct nominees or record holders to vote the Shares, or grant a consent or approval in respect of the Shares solely in accordance with Section 3.

 

(b)         Stockholder hereby revokes any proxies heretofore given by Stockholder in respect of the Shares and agrees to execute any further agreement or form reasonably necessary or appropriate to confirm and effectuate the grant of the proxy contained herein.

 

(c)          Stockholder hereby affirms that the irrevocable proxy set forth in this Section 4 is given in connection with the execution of the Merger Agreement, and that such irrevocable proxy is given to secure the performance of the duties of Stockholder under this Agreement.  Stockholder hereby further affirms that the irrevocable proxy is coupled with an interest, is intended to be irrevocable in accordance with the provisions of Section 78.355 of the NRS, and may under no circumstances be revoked.  The irrevocable proxy granted by Stockholder herein is a durable power of attorney and shall survive the dissolution, bankruptcy or incapacity of Stockholder.

 

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(d)         The Proxyholders may not exercise this irrevocable proxy on any matter except as provided above.  Stockholder may vote the Shares on all other matters.

 

(e)          Parent may terminate this proxy at any time by written notice to Stockholder.  Notwithstanding anything to the contrary in this Agreement, this proxy shall automatically terminate upon the valid termination of this Agreement in accordance with Section 7.

 

5.                                      Action in Stockholder Capacity Only.  Stockholder is entering into this Agreement solely in Stockholder’s capacity as a record holder and beneficial owner, as applicable, of Shares and not in Stockholder’s capacity as a director or officer of the Company.  Nothing herein shall limit or affect Stockholder’s ability to act as an officer or director of the Company.

 

6.                                      Representations and Warranties of Stockholder.  Stockholder hereby represents and warrants to Parent as follows:

 

(a)         (i) Stockholder is the beneficial or record owner of the Shares indicated on the signature page of this Agreement free and clear of any and all Liens; and (ii) Stockholder does not beneficially own any securities of the Company other than the Shares set forth on the signature page of this Agreement.

 

(b)         As of the date hereof and for so long as this Agreement remains in effect (including as of the date of the Company Stockholders Meeting, which, for purposes of this Agreement, includes any adjournment or postponement thereof), except as otherwise provided in this Agreement, Stockholder has full power and authority to (i) make, enter into and carry out the terms of this Agreement and to grant the irrevocable proxy as set forth in Section 4; and (ii) vote all of the Shares in the manner set forth in this Agreement without the consent or approval of, or any other action on the part of, any other Person (including any Governmental Entity), except for any such consent, approval or action that, individually or in the aggregate, would not materially impair Stockholder’s ability to perform Stockholder’s obligations under this Agreement.  Without limiting the generality of the foregoing, Stockholder has not entered into any voting agreement (other than this Agreement) with any Person with respect to any of the Shares, granted any Person any proxy (revocable or irrevocable) or power of attorney with respect to any of the Shares, deposited any of the Shares in a voting trust or entered into any arrangement or agreement with any Person limiting or affecting Stockholder’s legal power, authority or right to vote the Shares on any matter.

 

(c)          This Agreement has been duly executed and delivered by Stockholder and, assuming the due authorization, execution and delivery by Parent, constitutes a valid and binding obligation of Stockholder, enforceable against Stockholder in accordance with its terms (except to the extent that enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar Laws affecting the enforcement of creditors’ rights generally or by general principles of equity (regardless of whether considered in a proceeding in equity or at law).

 

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(d)         The execution, delivery and performance of this Agreement by Stockholder do not and will not require any consent, approval, authorization or permit of, action by, filing with or notification to, any Governmental Entity, except for any such consent, approval, authorization, permit, action, filing or notification the failure of which to make or obtain, individually or in the aggregate, has not and would not materially impair Stockholder’s ability to perform Stockholder’s obligations under this Agreement.

 

7.                                      Termination.  This Agreement shall terminate and be of no further force or effect whatsoever as of the earlier of (a) such date and time as the Merger Agreement shall have been validly terminated pursuant to the terms of Article VII thereof or (b) the Effective Time (the “Expiration Date”); provided, however, that (i) Section 8 shall survive the termination of this Agreement, and (ii) the termination of this Agreement shall not relieve Stockholder from any liability for any inaccuracy in or breach of any representation, warranty, covenant or agreement contained in this Agreement prior to such termination.

 

8.                                      Miscellaneous Provisions.

 

(a)         Amendments.  This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or otherwise, except by an instrument in writing specifically designated as an amendment hereto, signed on behalf of each of the parties.

 

(b)         Extension of Time; Waivers.  The parties may, to the extent permitted by applicable Law, (i) extend the time for the performance of any of the obligations or acts of the other party, (ii) waive any inaccuracies in the representations and warranties of the other party set forth in this Agreement or any document delivered pursuant hereto or (iii) subject to applicable Law, waive compliance with any of the agreements of the other party contained herein.  Any agreement on the part of a party to any such waiver shall be valid only if set forth in a written instrument executed and delivered by such party.  No failure or delay of either party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power.

 

(c)          Notices.  All notices and other communications hereunder shall be in writing and shall be deemed duly given (i) on the date of delivery if delivered personally, or if by facsimile or e-mail, upon written confirmation of receipt by facsimile, e-mail or otherwise, (ii) on the first Business Day following the date of dispatch if delivered utilizing a next-day service by a recognized next-day courier or (iii) on the earlier of confirmed receipt or the third Business Day following the date of mailing if delivered by registered or certified mail, return receipt requested, postage prepaid.  All notices hereunder shall be delivered (x) if to Parent, to the address, e-mail address or facsimile provided in the Merger Agreement, including to the persons designated therein to receive copies; and (y) if to Stockholder, to Stockholder’s address, e-mail address or facsimile number shown on Stockholder’s signature page hereto.

 

(d)         Interpretation.  When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated.  The headings

 

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contained in this Agreement are for convenience of reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.  All words used in this Agreement will be construed to be of such gender or number as the circumstances require.  The word “including” and words of similar import when used in this Agreement will mean “including, without limitation,” unless otherwise specified.  The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to the Agreement as a whole and not to any particular provision in this Agreement.  The term “or” is not exclusive.  The word “will” shall be construed to have the same meaning and effect as the word “shall.”  References to days mean calendar days unless otherwise specified.  No summary of this Agreement prepared by either party shall affect the meaning or interpretation of this Agreement.

 

(e)          Entire Agreement.  This Agreement constitutes the entire agreement, and supersedes all prior written agreements, arrangements, communications and understandings and all prior and contemporaneous oral agreements, arrangements, communications and understandings among the parties with respect to the subject matter hereof.

 

(f)           Parties in Interest.  This Agreement is not intended to, and shall not, confer upon any other Person other than the parties and their respective successors and permitted assigns any rights or remedies hereunder.

 

(g)          Governing Law.  This Agreement and all disputes or controversies arising out of or relating to this Agreement or the transactions contemplated hereby shall be governed by, and construed in accordance with, the internal Laws of the State of Delaware, without regard to any choice or conflict of Law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of laws of any jurisdiction other than those of the State of Delaware.

 

(h)         Submission to Jurisdiction.  Each of the parties irrevocably agrees that any legal action or proceeding arising out of or relating to this Agreement brought by either party or such party’s Affiliates against the other party or its Affiliates shall be brought and determined in the Court of Chancery of the State of Delaware, provided that if jurisdiction is not then available in the Court of Chancery of the State of Delaware, then any such legal action or proceeding may be brought in any federal court located in the State of Delaware or the CCLD.  Each of the parties hereby irrevocably submits to the jurisdiction of the aforesaid courts for itself and with respect to its property, generally and unconditionally, with regard to any such action or proceeding arising out of or relating to this Agreement and the transactions contemplated hereby.  Each of the parties agrees not to commence any action, suit or proceeding relating thereto except in the courts described above in Delaware, other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein.  Each of the parties further agrees that notice as provided herein shall constitute sufficient service of process and the parties further waive any argument that such service is insufficient.  Each of the parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby, (i) any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for any reason, (ii) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service

 

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of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (iii) that (x) the suit, action or proceeding in any such court is brought in an inconvenient forum, (y) the venue of such suit, action or proceeding is improper or (z) this Agreement, or the subject matter hereof, may not be enforced in or by such courts.

 

(i)             Assignment; Successors.  Neither this Agreement nor any of the rights, interests or obligations under this Agreement may be assigned or delegated, in whole or in part, by operation of law or otherwise, by either party without the prior written consent of the other party, and any such assignment without such prior written consent shall be null and void, except that Parent may assign this Agreement to any direct or indirect wholly owned Subsidiary of Parent without the consent of Stockholder. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the parties and their respective successors and assigns, including Stockholder’s estate and heirs upon the death of Stockholder.

 

(j)            Enforcement.  The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached.  Accordingly, each party shall be entitled to specific performance of the terms hereof, including an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in the Court of Chancery of the State of Delaware, provided, that if jurisdiction is not then available in the Court of Chancery of the State of Delaware, then in any federal court located in the State of Delaware or the CCLD, this being in addition to any other remedy to which such party is entitled at law or in equity.  Each of the parties hereby further waives (i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any Law to post security as a prerequisite to obtaining equitable relief.

 

(k)         Severability.  Whenever possible, each provision or portion of any provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable Law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable Law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or portion of any provision in such jurisdiction, and this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had never been contained herein.

 

(l)             WAIVER OF JURY TRIAL.  EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

(m)     Counterparts.  This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same instrument and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party.

 

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(n)         Facsimile or .pdf Signature.  This Agreement may be executed by facsimile or .pdf signature and a facsimile or .pdf signature shall constitute an original for all purposes.

 

(o)         No Presumption Against Drafting Party.  Each of Parent and Stockholder acknowledges that each party to this Agreement has been represented by counsel in connection with this Agreement and the transactions contemplated by this Agreement.  Accordingly, any rule of law or any legal decision that would require interpretation of any claimed ambiguities in this Agreement against the drafting party has no application and is expressly waived.

 

(p)         Attorneys’ Fees.  In any action at law or suit in equity with respect to this Agreement or the rights of any of the parties, the prevailing party in such action or suit shall be entitled to receive its reasonable attorneys’ fees and all other reasonable costs and expenses incurred in such action or suit.

 

(q)         Further Assurances.  Stockholder hereby agrees that Parent may publish and disclose in any proxy materials (including all documents and schedules filed with the SEC), Stockholder’s identity and ownership of the Shares and the nature of Stockholder’s commitments, arrangements and understandings under this Agreement and may further file this Agreement with any filing made by Parent with the SEC relating to the Proposed Transaction.  Stockholder agrees to notify Parent promptly of any additional Shares of which Stockholder becomes the record or beneficial owner after the date of this Agreement.

 

[REMAINDER OF PAGE INTENTIONALLY BLANK]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Stockholder Agreement to be duly executed as of the date first above written.

 

 

	
 
    	
MKS   INSTRUMENTS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
[Stockholder   Name]
    
	
 
    	
 
    
	
 
    	
Address:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Telephone: (__) ____-__________
    
	
 
    	
Facsimile:  (__) ____-__________
    
	
 
    	
E-Mail Address:   ________________
    
	
 
    	
 
    
	
 
    	
Shares Beneficially   Owned by Stockholder:
    
	
 
    	
__________ shares   of common stock, par value $0.1167 per shareExhibit 10.38 

 

The Future Education Group Inc.

Room 501, Gaohelanfeng Building, East 3rd
Ring South Road,

Chaoyang District, Beijing

P. R. China

+86 10-87663458

 

未来教育集团公司

中国北京市朝阳区东三环南路高和蓝峰大厦501室

+86 10-87663458

 

 

 

January 30,
2016

2016 年 1 月30日

Thomas Jiayao Wu

地址:广州市天河区珠江新城华夏路16号,富力盈凯广场2201

 

Re: 
Director Offer Letter

关于:董事聘任书

 

Dear Mr. Thomas Jiayao Wu:

尊敬的吴家耀先生:

 

The Future Education
Group Inc. (the “Company”) is pleased that you have joined the Company’s Board of Directors (the “Board”)
as a member of the Board.

 

未来教育集团公司(“公司”)很高兴您已加入公司董事会(“董事会”)并成为董事会的一名成员。

 

Upon the later
of your signature hereto or its approval by the Board, this letter shall constitute an agreement (“Agreement”) between
you and the Company and contains all the terms and conditions relating to your service to the Company.

 

在您签署本聘任书或经董事会批准后,本聘任书将作为您和公司之间协议(“协议”)的组成部分,并包含了有关您为公司服务的有关条款和条件。

 

1.  Term.
This Agreement will become effective upon your appointment to the Board and continue until your resignation or removal, or until
your successor is duly elected and qualified. Your position will be subject to re-election each year at the annual shareholders’
meeting and, upon re-election, the terms and provisions of this Agreement shall remain in full force and effect.

 

1. 条款。本协议在您开始任职董事会时生效直至您辞职或被免职为止,或直至您的继任者被正式选举和任命为止。您的职位根据每年年度股东会议重新选举进行确认,如连任,本协议条款仍将持续有效。

 

2. Services.

 

2. 服务。

 

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2.1.Duties.
You shall render services as a member of the Board in accordance with high professional and ethical standards and in accordance
with all applicable laws, rules and regulations pertaining to your performance hereunder. You shall use your best efforts to attend
all meetings of the Board and any committee of the Board on which you serve called from time to time, either in-person or by telephone.
As an independent director, you may also be required to attend meetings with the other independent directors without the presence
of the Company’s officers and non-independent directors. The services described in this Section 2.1 shall hereinafter be
referred to as your “Duties.”

 

2.1.职责。作为公司董事会的一名成员,您应以与您工作相符的高专业和道德标准并按照所有适用的法律、法规和规章为公司提供服务。您应尽最大努力参加所有董事会会议及您不时被要求参加的董事会委员会的会议(无论亲自或以电话的方式)。作为一名独立董事,您也会被要求与其他一些独立董事参加公司高管及非独立董事未出席的会议。本条(第2.1条)所描述的服务应指本协议下您的“职责”。

 

2.2.Reporting.
While this Agreement is in effect, you shall immediately advise the Company if: (1) you know, have reason to know, or believe,
that your are no longer independent; and (2) you serve on an audit committee of any other public company.

 

2.2.报告。在本协议生效期间,如发生下列情况,您应立即通知公司:(1)您知晓或有理由知晓或认为自己不再处于独立状态;以及(2)您已任职于任何其他上市公司的审计委员会。

 

3. Services
for Others. You shall be free to represent or perform services for other persons during the term of this Agreement. You
represent, however, that you do not presently perform and do not intend to perform, during the term of this Agreement, similar
duties, consulting, or other services for companies whose businesses are or would be in any way competitive with the Company (except
for companies previously disclosed by you to the Company in writing). Should you propose to perform similar duties, consulting,
or other services for any such company, you agree to notify the Company in writing in advance (specifying the name of the organization
for whom you propose to perform such services) and to provide information to the Company sufficient to allow it to determine if
the performance of such services would conflict with your duties as a director of the Company.

 

3. 对他方的服务。您在本协议期间有代表其他方或为其他方提供服务的自由。但是,您表示您目前且在本协议期间也未计划在与本公司相竞争或可能以任何方式相竞争的公司中任职、提供咨询或服务(除非您事先已向本公司书面披露此类公司)。如您计划在与本公司相竞争或可能以任何方式相竞争的公司中任职、提供咨询或服务,您同意将书面提前通知本公司(说明您计划向其提供服务的组织名称),并向公司提供足够信息使公司可决定您提供该等服务是否与作为本公司董事的职责相冲突。

 

4. Compensation.

 

4. 报酬。

 

4.1.Cash. The
Company will pay to you cash compensation of $40,000 per year, payable quarterly in advance
and pro-rated for periods of less than a year. You shall be reimbursed for reasonable expenses documented and incurred by you in
connection with the performance of your Duties (including travel expenses for meetings you attend in-person).

 

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4.1.现金。公司每年会向您支付40,000美元的现金报酬,按季度提前支付,不足一年则按比例折算。您为履行您职责相关的合理花费都将得到报销(包括您亲自参加会议的差旅费用)。

 

4.2.Taxes.
You are solely responsible for taxes arising out of any compensation paid by the Company to you under this Agreement. The
Company will comply with any tax or withholding obligations as required by applicable law from time to time in connection with
this Agreement.

 

4.2.税费。您仅需承担本协议下公司向您支付的报酬而产生的税费。公司将按本协议相关的适用法律的不时要求履行相关税收或代扣代缴义务。

 

5.
D&O Insurance Policy. During the term of this Agreement, the Company shall include you as an insured under
a director’s and officer’s insurance policy, with coverage determined annually by the Company and the Board. 

 

5.
董事和高管保险政策。 在本协议期限内,
公司会将您作为董事和高管保险政策下的被保险人,
并由公司和董事会每年决定保险的覆盖范围。

 

6. No Assignment.
Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by you without the prior
written consent of the Company.

 

6. 不得转让。由于您所提供服务的个人属性,在未征得公司事先书面同意之前,您不得转让本协议。

 

7. Confidential Information;
Non-Disclosure. In consideration of your access to the premises of the Company and/or you access to certain confidential
information of the Company, you hereby represent and agree as follows:

 

7. 保密信息;不披露。考虑到您可进入公司的经营场所和/或您将获得本公司的某些机密信息,您特此同意如下:

 

7.1.Definition.
For purposes of this Agreement, the term “Confidential Information” means:

 

a. Any information that
the Company possesses that has been created, discovered, or developed by or for the Company, and that has or could have commercial
value or utility in the business in which the Company is engaged;

 

b.Any information provided
to the Board at or for meetings of the Board, and any information relating to proceedings of the Board; or

 

c. Any information that
is related to the business of the Company and is generally not known by non-Company personnel.

 

7.1.定义。为本协议之目的,“保密信息”是指:

 

a. 由公司或为公司创造、发现或开发的公司占有的任何信息,且该等信息具有或可能具有商业价值或对公司从事的业务具有实用性;

 

    	 	3	 

     

    

 

b.向董事会提供或为董事会会议而提供的任何信息,以及有关董事会议程的任何信息;或

 

c. 通常并不为非公司人员所知的与公司业务相关的任何信息。

 

7.2.Exclusions. Notwithstanding
the foregoing, the term Confidential Information shall not include:

 

a. Any information that
becomes generally available to the public other than as a result of a breach of this Agreement, or any other agreement requiring
confidentiality between the Company and you;

 

b. Information received
from a third party in rightful possession of such information who is not restricted from disclosing such information; and

 

c. Information known by
you prior to receipt of such information from the Company, which prior knowledge can be documented.

 

7.2.除外规定。尽管有前述规定,保密信息并不包括:

 

a. 任何通常可为公众所获取的而非因违反本协议而获取的或任何其他协议要求公司和您保密的信息;

 

b. 从第三方获得的信息,且该第三方合法占有该等信息而不受披露信息的限制;以及

 

c. 在收到来自公司的该等信息前便为您所知的信息,且先前的所知情况可被记录在案。

 

7.3. Documents.
You agree that, without the express prior written consent of the Company, you will not remove from the Company's premises, any
notes, formulas, programs, data, records, machines, or any other documents or items that in any manner contain or constitute Confidential
Information, nor will you make reproductions or copies of same. In the event you receive any such documents or items by personal
delivery from any duly designated or authorized personnel of the Company, you shall be deemed to have received the express written
consent of the Company. In the event that you receive any such documents or items, other than through personal delivery as described
in the preceding sentence, you agree to inform the Company promptly of your possession of such documents or items. You shall promptly
return any such documents or items, along with any reproductions or copies to the Company upon the Company's demand, upon termination
of this Agreement, or upon your termination or Resignation, as defined in Section 8, below.

 

7.3. 文件。未经公司明确书面同意,您同意不从公司经营场所带走任何笔记、公式、程序、数据、记录、机器或以任何方式包含或构成保密信息的任何其他文件或任何物品,也不会复制或拷贝上述文件或物品。如您收到公司正式指派或授权的人员亲自递送的任何上述文件或物品,您应被视为已经收到公司的明示书面同意。在您通过上述方式之外的方式收到任何上述文件或物品,您同意将及时告知公司您对该文件或物品的占有情况。应公司要求、本协议终止时、或您提出终止或辞呈(定义见下文第8条)时,您应及时向公司返还任何上述文件或物品,及其任何复制品或拷贝品。

 

    	 	4	 

     

    

 

7.4. No Disclosure.
You agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or
indirectly, any Confidential Information or anything relating to such information without the prior written consent of the Company,
except as maybe necessary in the course of your relationship with the Company. You further agree that you will not use any Confidential
Information other than in connection with your service as a member of the Board without the prior written consent of the Company.
The provisions of this Section 7.4 shall survive termination of this Agreement.

 

7.4. 不披露。您同意代为保管并对所有的保密信息保密,并且在未经公司书面同意不得直接或间接地向其他方披露任何保密信息或任何与保密信息有关的事项,除非在您与公司的关系存续过程中必要的披露外。您进一步同意,在未经公司书面同意不得使用任何保密信息,除非与您作为董事会成员的服务有关的使用。本7.4条的规定在本协议终止之后将继续有效。

 

8. Termination
and Resignation. Your membership on the Company’s Board may be terminated for any or no reason except as provided
in the Company’s organizational documents or pursuant to applicable law. You may also terminate your membership on the Board
for any or no reason by delivering your written notice of resignation to the Company (“Resignation”), and such Resignation
shall be effective on the later of the date of its delivery or the date specified in the Resignation. Upon the effective date of
the termination or Resignation, your right to compensation hereunder will terminate, subject to the Company's obligations to pay
you any compensation that you have already earned and to reimburse you for approved expenses already incurred in connection with
your performance of your Duties as of the effective date of such termination or Resignation.

 

8. 终止与辞呈。您的公司董事会成员的身份可因任何理由或无需任何理由而终止,除非公司的组织文件或适用的法律另有规定。您无需任何理由可通过向公司提交书面辞职通知(“辞呈”)而终止您作为公司董事会成员的身份。该辞呈将在提交之日与辞呈中指定之日中较晚之日生效。自终止或辞呈生效之日起,您依据本协议获得报酬的权利将随之终止,但公司仍然有义务向您支付截至终止或辞呈生效之日您已经获得的报酬,并为您报销截至终止或辞呈生效之日已经产生且通过核准的与您履行职责有关的费用。

 

9. Not an Employee. Nothing
in this Agreement shall be construed as a contract of employment/engagement between you and the Company or as a commitment on the
part of the Company to retain you in any capacity, for any period of time or under any specific terms or conditions, or to continue
your service to the Company beyond any period.

 

9.
非雇员。 本协议的任何内容均不得被解释为您与公司之间的雇佣/聘用合同,
或公司依据任何具体的条款或条件在任何期间内为您保留任何职位或超过任何期间继续要求您向公司提供服务的承诺。

 

10.Governing
Law; Consent to Jurisdiction.  All questions with respect to the construction and/or enforcement of this Agreement, and
the rights and obligations of the parties hereunder, shall be determined in accordance with the laws of the State of New York applicable
to agreements made and to be performed entirely in the State of New York. The parties hereby consent to the jurisdiction of the
courts having jurisdiction over matters arising in New York for any proceeding arising out of or relating to this Agreement. The
parties agree that in any such proceeding, each party shall waive, if applicable, inconvenience of forum and right to a jury.

 

    	 	5	 

     

    

 

10.适用法律;同意管辖。与本协议的解释及/或执行,以及本协议各方的权利及义务有关的所有问题,应由协议所适用的纽约州法律确定,且本协议将完全在纽约州履行。各方在此同意接受对纽约州内的事宜具有管辖权的法院对因本协议而产生的或与本协议有关的任何法律程序的管辖。各方同意在任何该等法律程序中,每一方均应放弃不方便法院主张以及由陪审团审判的权利(如适用)。

 

11. Entire
Agreement; Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to the subject
matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any
term of this Agreement may be amended and observance of any term of this Agreement may be waived only with the written consent
of the parties hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any
subsequent breach or failure of the same term or condition or waiver of any other term or condition of this Agreement. The failure
of any party at any time to require performance by any other party of any provision of this Agreement shall not affect the right
of any such party to require future performance of such provision or any other provision of this Agreement. This Agreement may
be executed in separate counterparts each of which will be an original and all of which taken together will constitute one and
the same agreement, and may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to be the
same, and equally enforceable, as an original of such signature.

 

11. 完整协议;修订;豁免;副本。本协议为有关本协议项下事宜的完整协议,并且替代及终止之前任何有关本协议项下事宜的口头或书面协议。本协议的任何条款和对本协议任何条款的遵守经本协议各方的书面同意可被修订或豁免。任何一方对本协议任何条款或条件的豁免不应被解读为对任何后续对该条款或条件的违反或不履行的豁免,或对本协议任何其他条款或条件的豁免。任何一方在任何时候未能要求任何其他方履行本协议的任何规定将不会影响该方将来要求履行本协议的该规定或任何其他规定的权利。本协议可分别签署多份副本,每一份均被视为原件,所有副本共同构成一份相同的协议,且可以通过签名的传真件签署,一个签名的传真件应被视为与该签名的原件具有同样及相等的可执行性。

 

 

[Remainder of Page Left Blank Intentionally]

[本页以下无正文]

 

 

 

 

 

 

    	 	6	 

     

    

 

 

This Agreement
has been executed and delivered by the undersigned and is made effective as of the date set first set forth above.

 

本协议已由下列签署方签署并交付,并于本协议首页所载之日生效。

 

 

	 	
        Sincerely,

        谨上,

	 	 
	 	
        The Future Education Group Inc.

        未来教育集团公司

	 	 
	 	 
	 	
        By: /s/ Weifu Li

         

        Name姓名:Weifu Li

         

        Title职位:Chairman

         

 

 

 

AGREED AND ACCEPTED:

同意并接受:

 

 

 

/s/ Thomas Jiayao Wu 

Name姓名:
Thomas Jiayao Wu

 

 

 

 

 

 

 

 

 

    	 	7

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