Document:

EX-10.16

Exhibit 10.16

INDEMNIFICATION AGREEMENT

     This Indemnification Agreement (this “Agreement”) is entered into as of [•], 2010 by and
between Le Gaga Holdings Limited, Cayman Islands company (the “Company”) and the undersigned, a
director and/or an officer of the Company (“Indemnitee”), as applicable.

RECITALS

     The Board of Directors of the Company (the “Board of Directors”) has determined that the
inability to attract and retain highly competent persons to serve the Company is detrimental to the
best interests of the Company and its shareholders and that it is reasonable and necessary for the
Company to provide adequate protection to such persons against risks of claims and actions against
them arising out of their services to the corporation.

AGREEMENT

     In consideration of the premises and the covenants contained herein, the Company and
Indemnitee do hereby covenant and agree as follows:

A. DEFINITIONS

     The following terms shall have the meanings defined below:

     Expenses shall include, without limitation, damages, judgments, fines, penalties, settlements
and costs, attorneys’ fees and disbursements and costs of attachment or similar bond,
investigations, and any other expenses paid or incurred in connection with investigating,
defending, being a witness in, participating in (including on appeal), or preparing for any of the
foregoing in, any Proceeding.

     Indemnifiable Event means any event or occurrence that takes place either [before or] after
the execution of this Agreement, related to the fact that Indemnitee is or was a director or an
officer of the Company, or is or was serving at the request of the Company as a director or officer
of another corporation, partnership, joint venture or other entity, or related to anything done or
not done by Indemnitee in any such capacity, including, but not limited to neglect, breach of duty,
error, misstatement, misleading statement or omission.

     Participant means a person who is a party to, or witness or participant (including on appeal)
in, a Proceeding.

     Proceeding means any threatened, pending, or completed action, suit, arbitration or
proceeding, or any inquiry, hearing or investigation, whether civil, criminal, administrative,
investigative or other, including appeal, in which Indemnitee may be or may have been involved as a
party or otherwise by reason of an Indemnifiable Event.

B. AGREEMENT TO INDEMNIFY

     1. General Agreement. In the event Indemnitee was, is, or becomes a Participant in,
or is threatened to be made a Participant in, a Proceeding, the Company shall indemnify the
Indemnitee from and against any and all Expenses which Indemnitee incurs or becomes

 

 

obligated to incur in connection with such Proceeding, whether or not such Proceeding proceeds to
judgment or is settled or is otherwise brought to a final disposition, to the fullest extent
permitted by applicable law.

     2. Indemnification of Expenses of Successful Party. Notwithstanding any other
provision of this Agreement, to the extent that Indemnitee has been successful on the merits in
defense of any Proceeding or in defense of any claim, issue or matter in such Proceeding, the
Company shall indemnify Indemnitee against all Expenses incurred in connection with such Proceeding
or such claim, issue or matter, whether or not such Proceeding proceeds to judgment or is settled
or is otherwise brought to a final disposition, as the case may be, offset by the amount of cash,
if any, received by the Indemnitee resulting from his/her success therein.

     3. Partial Indemnification. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for a portion of Expenses, but not for the total amount
of Expenses, the Company shall indemnify the Indemnitee for the portion of such Expenses to which
Indemnitee is entitled.

     4. Exclusions. Notwithstanding anything in this Agreement to the contrary, Indemnitee
shall not be entitled to indemnification under this Agreement:

     (a) to the extent that payment is actually made to Indemnitee under a valid, enforceable and
collectible insurance policy;

     (b) to the extent that Indemnitee is indemnified and actually paid other than pursuant to this
Agreement;

     (c) subject to Section C.2(a), in connection with a judicial action by or in the right of the
Company, in respect of any claim, issue or matter as to which the Indemnitee shall have been
adjudicated by a court of competent jurisdiction, in a decision from which there is no further
right of appeal, to be liable for gross negligence or knowing or willful misconduct in the
performance of his/her duty to the Company unless and only to the extent that any court in which
such action was brought shall determine upon application that, despite the adjudication of
liability but in view of all the circumstances of the case, the Indemnitee is fairly and reasonably
entitled to indemnity for such Expenses as such court shall deem proper;

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

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

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

     (g) arising out of Indemnitee’s breach of an employment agreement with the Company (if any) or
any other agreement with the Company or any of its subsidiaries, or

     (h) arising out of Indemnitee’s personal income tax payable on any salaries, bonuses,
director’s fees, including fees for attending meetings, or gain on disposition of shares, options
or restricted shares of the Company.

     5. No Employment Rights. Nothing in this Agreement is intended to create in
Indemnitee any right to continued employment with the Company.

     6. Contribution. If the indemnification provided in this Agreement is unavailable and
may not be paid to Indemnitee for any reason other than those set forth in Section B.4, then the
Company shall contribute to the amount of Expenses paid in settlement actually and reasonably
incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the
relative benefits received by the Company on the one hand and by the Indemnitee on the other hand
from the transaction or events from which such Proceeding arose, and (ii) the relative fault of the
Company on the one hand and of the Indemnitee on the other hand in connection with the events which
resulted in such Expenses, as well as any other relevant equitable considerations. The relative
fault of the Company on the one hand and of the Indemnitee on the other hand shall be determined by
reference to, among other things, the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent the circumstances resulting in such Expenses, judgments,
fines or settlement amounts. The Company agrees that it would not be just and equitable if
contribution pursuant to this Section B.6 were determined by pro rata allocation or any other
method of allocation which does not take account of the foregoing equitable considerations.

C. INDEMNIFICATION PROCESS

     1. Notice and Cooperation By Indemnitee. Indemnitee shall, as a condition precedent
to his/her right to be indemnified under this Agreement, give the Company notice in writing as soon
as practicable of any claim made against Indemnitee for which indemnification will or could be
sought under this Agreement, provided that the delay of Indemnitee to give notice hereunder shall
not prejudice any of Indemnitee’s rights hereunder, unless such delay results in the Company’s
forfeiture of substantive rights or defenses. Notice to the Company shall be given in accordance
with Section F.7 below. If, at the time of receipt of such notice, the Company has directors’ and
officers’ liability insurance policies in effect, the Company shall give prompt notice to its
insurers of the Proceeding relating to the notice. The Company shall thereafter take all necessary
and desirable action to cause such insurers to pay, on behalf of Indemnitee, all Expenses payable
as a result of such Proceeding. In addition, Indemnitee shall give the Company such cooperation as
the Company may reasonably request and the Company shall give the Indemnitee such cooperation as
the Indemnitee may reasonably request, including providing any documentation or information which
is not privileged or otherwise protected from disclosure and which is reasonably available to
Indemnitee or the Company, as the case may be.

     2. Indemnification Payment.

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     (a) Advancement of Expenses. Indemnitee may submit a written request with reasonable
particulars to the Company requesting that the Company advance to Indemnitee all Expenses that may
be reasonably incurred in advance by Indemnitee in connection with a Proceeding. The Company
shall, within ten (10) business days of receiving such a written request by Indemnitee, advance all
requested Expenses to Indemnitee. Any excess of the advanced Expenses over the actual Expenses
will be repaid to the Company.

     (b) Reimbursement of Expenses. To the extent Indemnitee has not requested any advanced
payment of Expenses from the Company, Indemnitee shall be entitled to receive reimbursement for the
Expenses incurred in connection with a Proceeding from the Company as soon as practicable and, in
any event, within 30 days after Indemnitee makes a written request to the Company for reimbursement
unless the Company refers the indemnification request to the Reviewing Party in compliance with
Section C.2(c) below.

     (c) Determination by the Reviewing Party. If the Company reasonably believes that it is not
obligated under this Agreement to indemnify the Indemnitee, the Company shall, within 10 days after
the Indemnitee’s written request for an advancement or reimbursement of Expenses, notify the
Indemnitee that the request for advancement of Expenses or reimbursement of Expenses will be
submitted to the Reviewing Party (as hereinafter defined). The Reviewing Party shall make a
determination on the request within 30 days after the Indemnitee’s written request for an
advancement or reimbursement of Expenses. Notwithstanding anything foregoing to the contrary, in
the event the Reviewing Party informs the Company that Indemnitee is not entitled to
indemnification in connection with a Proceeding under this Agreement or applicable law, the Company
shall be entitled to be reimbursed by Indemnitee for all the Expenses previously advanced or
otherwise paid to Indemnitee in connection with such Proceeding; provided, however,
that Indemnitee may bring a suit to enforce his/her indemnification right in accordance with
Section C.3 below.

     3. Suit to Enforce Rights. Regardless of any action by the Reviewing Party, if
Indemnitee has not received full indemnification within 30 days after making a written demand in
accordance with Section C.2 above or 50 days if the Company submits a request for advancement or
reimbursement to the Reviewing Party under Section C.2(c), Indemnitee shall have the right to
enforce its indemnification rights under this Agreement by commencing litigation in any court of
competent jurisdiction seeking a determination by the court or challenging any determination by the
Reviewing Party or with respect to any breach in any aspect of this Agreement. Any determination
by the Reviewing Party not challenged by Indemnitee and any judgment entered by the court shall be
binding on the Company and Indemnitee.

     4. Assumption of Defense. In the event the Company is obligated under this Agreement
to advance or bear any Expenses for any Proceeding against Indemnitee, the Company shall be
entitled to assume the defense of such Proceeding, with counsel approved by Indemnitee, upon
delivery to Indemnitee of written notice of its election to do so. After delivery of such notice,
approval of such counsel by Indemnitee and the retention of such counsel by the Company, the
Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same Proceeding, unless (i) the employment of counsel by
Indemnitee has been previously authorized by the Company, (ii) Indemnitee shall have reasonably
concluded, based on written advice of counsel, that there may be a conflict of interest of such
counsel retained by

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the Company between the Company and Indemnitee in the conduct of any such defense, or (iii) the
Company ceases or terminates the employment of such counsel with respect to the defense of such
Proceeding, in any of which events the fees and expenses of Indemnitee’s counsel shall be at the
expense of the Company. At all times, Indemnitee shall have the right to employ counsel in any
Proceeding at Indemnitee’s expense.

     5. Burden of Proof and Presumptions. Upon making a request for indemnification,
Indemnitee shall be presumed to be entitled to indemnification under this Agreement and the Company
shall have the burden of proof to overcome that presumption in reaching any contrary determination.

     6. No Settlement Without Consent. Neither party to this Agreement shall settle any
Proceeding in any manner that would impose any damage, loss, penalty or limitation on Indemnitee
without the other party’s written consent. Neither the Company nor Indemnitee shall unreasonably
withhold its consent to any proposed settlement.

     7. Company Participation. Subject to Section B.6, the Company shall not be liable to
indemnify the Indemnitee under this Agreement with regard to any judicial action if the Company was
not given a reasonable and timely opportunity, at its expense, to participate in the defense,
conduct and/or settlement of such action.

     8. Reviewing Party.

          (a) For purposes of this Agreement, the Reviewing Party with respect to each indemnification
request of Indemnitee that is referred by the Company pursuant to Section C.2(c) above shall be (A)
the Board of Directors by a majority vote of a quorum consisting of Disinterested Directors (as
hereinafter defined), or (B) if a quorum of the Board of Directors consisting of Disinterested
Directors is not obtainable or, even if obtainable, said Disinterested Directors so direct, by
Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be
delivered to Indemnitee. If the Reviewing Party determines that Indemnitee is entitled to
indemnification, payment to Indemnitee shall be made within ten (10) days after such determination.
Indemnitee shall cooperate with the person, persons or entity making such determination with
respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons
or entity upon reasonable advance request any documentation or information which is not privileged
or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to such determination. Any Independent Counsel or member of the Board of
Directors shall act reasonably and in good faith in making a determination under this Agreement of
the Indemnitee’s entitlement to indemnification. Any reasonable costs or expenses (including
reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the
person, persons or entity making such determination shall be borne by the Company (irrespective of
the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby
indemnifies and agrees to hold Indemnitee harmless therefrom. “Disinterested Director”
means a director of the Company who is not and was not a party to the Proceeding in respect of
which indemnification is sought by Indemnitee.

          (b) If the determination of entitlement to indemnification is to be made by Independent
Counsel, the Independent Counsel shall be selected as provided in this Section C.8(b). The
Independent Counsel shall be selected by Indemnitee (unless Indemnitee

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shall request that such selection be made by the Board of Directors, in which event the proceeding
sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the
identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as
the case may be, may, within 10 days after such written notice of selection shall have been given,
deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection;
provided, however, that such objection may be asserted only on the ground that the Independent
Counsel so selected does not meet the requirements of “Independent Counsel” as defined in
Section C.8(d) of this Agreement, and the objection shall set forth with particularity the factual
basis of such assertion. Absent a proper and timely objection, the person so selected shall act as
Independent Counsel. If a written objection is made and substantiated, the Independent Counsel
selected may not serve as Independent Counsel unless and until such objection is withdrawn or a
court has determined that such objection is without merit. If, within 20 days after submission by
Indemnitee of a written request for indemnification, no Independent Counsel shall have been
selected and not objected to, either the Company or Indemnitee may petition the a court of
competent jurisdiction for resolution of any objection which shall have been made by the Company or
Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as
Independent Counsel of a person selected by the court or by such other person as the court shall
designate, and the person with respect to whom all objections are so resolved or the person so
appointed shall act as Independent Counsel. The Company shall pay any and all reasonable fees and
expenses of Independent Counsel incurred by such Independent Counsel in connection with acting
under this Agreement, and the Company shall pay all reasonable fees and expenses incident to the
procedures of this Section C.8(b), regardless of the manner in which such Independent Counsel was
selected or appointed.

          (c) In making a determination with respect to entitlement to indemnification hereunder, the
Reviewing Party shall presume that Indemnitee is entitled to indemnification under this Agreement
if Indemnitee has submitted a request for indemnification in accordance with this Agreement, and
the Company shall have the burden of proof to overcome that presumption in connection with the
making by any person, persons or entity of any determination contrary to that presumption. The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order,
settlement (with or without court approval), conviction, or upon a plea of nolo contendere or its
equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself
adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee
did not act in good faith and in a manner which he/she reasonably believed to be in or not opposed
to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee
had reasonable cause to believe that his/her conduct was unlawful. For purposes of any
determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s
action is based on the records or books of account of the Company and any other corporation,
partnership, joint venture or other entity of which Indemnitee is or was serving at the written
request of the Company as a director, officer, employee, agent or fiduciary, including financial
statements, or on information supplied to Indemnitee by the officers and directors of the Company
or such other corporation, partnership, joint venture or other entity in the course of their
duties, or on the advice of legal counsel for the Company or such other corporation, partnership,
joint venture or other entity or on information or records given or reports made to the Company or
such other corporation, partnership, joint venture or other entity by an independent certified
public accountant or by an appraiser or other expert selected with reasonable care by the Company
or such other corporation, partnership, joint venture or other entity. In addition, the knowledge
and/or actions, or failure to act, of any

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director, officer, agent or employee of the Company or such other corporation, partnership,
joint venture or other entity shall not be imputed to Indemnitee for purposes of determining the
right to indemnification under this Agreement. The provisions of this Section C.8(c) shall not be
deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may
be deemed to have met the applicable standard of conduct set forth in this Agreement.

          (d) “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in
matters of corporation law and neither presently is, nor in the past five (5) years has been,
retained to represent (i) the Company or Indemnitee in any matter material to either such party
(other than with respect to matters concerning the Indemnitee under this Agreement, or of other
indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding
giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term
“Independent Counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The
Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully
indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of
or relating to this Agreement or its engagement pursuant hereto.

D. DIRECTOR AND OFFICER LIABILITY INSURANCE

     1. Good Faith Determination. The Company shall from time to time make the good faith
determination whether or not it is practicable for the Company to obtain and maintain a policy or
policies of insurance with reputable insurance companies providing the officers and directors of
the Company with coverage for losses incurred in connection with their services to the Company or
to ensure the Company’s performance of its indemnification obligations under this Agreement.

     2. Coverage of Indemnitee. To the extent the Company maintains an insurance policy or
policies providing directors’ and officers’ liability insurance, Indemnitee shall be covered by
such policy or policies, in accordance with its or their terms, to the maximum extent of the
coverage available for any of the Company’s directors or officers.

     3. No Obligation. Notwithstanding the foregoing, the Company shall have no obligation
to obtain or maintain any director and officer insurance policy if the Company determines in good
faith that such insurance is not reasonably available in the case that (i) premium costs for such
insurance are disproportionate to the amount of coverage provided, or (ii) the coverage provided by
such insurance is limited by exclusions so as to provide an insufficient benefit.

E. NON-EXCLUSIVITY; [ U.S. FEDERAL PREEMPTION;] TERM

     1. Non-Exclusivity. The indemnification provided by this Agreement shall not be
deemed exclusive of any rights to which Indemnitee may be entitled under the Company’s memorandum
and articles of association, as may be amended from time to time, applicable law or any written
agreement between Indemnitee and the Company (including its subsidiaries and affiliates). The
indemnification provided under this Agreement shall

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continue to be available to Indemnitee for any action taken or not taken while serving in an
indemnified capacity even though he/she may have ceased to serve in any such capacity at the time
of any Proceeding. To the extent that a change in the laws of the Cayman Islands permits greater
indemnification by agreement than would be afforded under the Articles of Association or this
Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the
greater benefits so afforded by such change.

     2. U.S. Federal Preemption. Notwithstanding the foregoing, both the Company and
Indemnitee acknowledge that in certain instances, U.S. federal law or public policy may override
applicable law and prohibit the Company from indemnifying its directors and officers under this
Agreement or otherwise. Such instances include, but are not limited to, the U.S. Securities and
Exchange Commission’s prohibition on indemnification for liabilities arising under certain U.S.
federal securities laws. Indemnitee understands and acknowledges that the Company has undertaken
or may be required in the future to undertake with the SEC to submit the question of
indemnification to a court in certain circumstances for a determination of the Company’s right
under public policy to indemnify Indemnitee.

     3. Duration of Agreement. All agreements and obligations of the Company contained
herein shall continue during the period Indemnitee is an officer and/or a director of the Company
(or is or was serving at the request of the Company as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise) and shall continue
thereafter so long as Indemnitee shall be subject to any Proceeding by reason of his/her former or
current capacity at the Company or any other enterprise at the Company’s request, whether or not
he/she is acting or serving in any such capacity at the time any Expense is incurred for which
indemnification can be provided under this Agreement. This Agreement shall continue in effect
regardless of whether Indemnitee continues to serve as an officer and/or a director of the Company
or any other enterprise at the Company’s request.

F. MISCELLANEOUS

     1. Amendment of this Agreement. No supplement, modification, or amendment of this
Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of
the provisions of this Agreement shall operate as a waiver of any other provisions (whether or not
similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided in
this Agreement, no failure to exercise or any delay in exercising any right or remedy shall
constitute a waiver.

     2. Subrogation. In the event of payment to Indemnitee by the Company under this
Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of
recovery of Indemnitee, who shall execute all papers required and shall do everything that may be
necessary to secure such rights, including the execution of such documents necessary to enable the
Company to bring suit to enforce such rights.

     3. Assignment; Binding Effect. Neither this Agreement nor any of the rights or
obligations hereunder may be assigned by either party hereto without the prior written consent of
the other party; except that the Company may, without such consent, assign all such rights and
obligations to a successor in interest to the Company which assumes all obligations of the Company
under this Agreement. Notwithstanding the foregoing, this Agreement shall be binding upon and
inure to the benefit of and be enforceable by and

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against the parties hereto and the Company’s successors (including any direct or indirect successor
by purchase, merger, consolidation, or otherwise to all or substantially all of the business and/or
assets of the Company) and assigns, as well as Indemnitee’s spouses, heirs, and personal and legal
representatives.

     4. Severability and Construction. Nothing in this Agreement is intended to require or
shall be construed as requiring the Company to do or fail to do any act in violation of applicable
law. The Company’s inability, pursuant to a court order, to perform its obligations under this
Agreement shall not constitute a breach of this Agreement. In addition, if any portion of this
Agreement shall be held by a court of competent jurisdiction to be invalid, void, or otherwise
unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted by
applicable law. The parties hereto acknowledge that they each have opportunities to have their
respective counsels review this Agreement. Accordingly, this Agreement shall be deemed to be the
product of both of the parties hereto, and no ambiguity shall be construed in favor of or against
either of the parties hereto.

     5. Counterparts. This Agreement may be executed in two counterparts, both of which
taken together shall constitute one instrument.

     6. Governing Law. This agreement and all acts and transactions pursuant hereto and
the rights and obligations of the parties hereto shall be governed, construed and interpreted in
accordance with the laws of the Hong Kong Special Administrative Region, without giving effect to
conflicts of law provisions thereof.

     7. Notices. All notices, demands, and other communications required or permitted
under this Agreement shall be made in writing and shall be deemed to have been duly given if
delivered by hand, against receipt, or mailed via postage prepaid, certified or registered mail,
return receipt requested, and addressed to the Company at:

Le Gaga Holdings Limited

Unit 1112, The Metropolis Tower

10 Metropolis Drive, Hung Hom

Kowloon, Hong Kong

Attention: Chief Financial Officer

          and to Indemnitee at his/her address last known to the Company.

     8. Entire Agreement. This Agreement constitutes the entire agreement and supersedes
all prior agreements and understandings, both written and oral, between the parties with respect to
the subject matter hereof.

(Signature page follows)

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

	 	 	 	 	 
	LE GAGA HOLDINGS LIMITED

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

Signature Page to Indemnification Agreement

 

 

INDEMNITEE

 

Name:

Signature Page to Indemnification AgreementEX-10.17

Exhibit 10.17

EMPLOYMENT AGREEMENT

     This EMPLOYMENT AGREEMENT (the “Agreement”), is entered into as of             , 2010 by
and between Le Gaga Holdings Limited, a company incorporated and existing under the laws of the
Cayman Islands (the “Company”), and             , an individual (the “Executive”).
The term “Company” as used herein with respect to all obligations of the Executive hereunder shall
be deemed to include the Company and all of its direct or indirect parent companies, subsidiaries,
affiliates, or subsidiaries or affiliates of its parent companies (collectively, the
“Group”).

RECITALS

A. The Company desires to employ the Executive as its            and to assure itself of the
services of the Executive during the term of Employment (as defined below).

B. The Executive desires to be employed by the Company as its            during the term of
Employment and upon the terms and conditions of this Agreement.

AGREEMENT

     The parties hereto agree as follows:

	1.	 	POSITION
	 
	 	 	The Executive hereby accepts a position of            of the Company (the
“Employment”).
	 
	2.	 	TERM
	 
	 	 	Subject to the terms and conditions of this Agreement, the initial term of the Employment
shall be [three] years, commencing on             , 2010 (the “Effective Date”), until
          , 20          , unless terminated earlier pursuant to the terms of this Agreement.
Upon expiration of the initial [three]-year term, the Employment shall be automatically
extended for successive [one]-year terms unless either party gives the other party hereto a
one-month prior written notice to terminate the Employment prior to the expiration of such
[one]-year term or unless terminated earlier pursuant to the terms of this Agreement.
	 
	3.	 	LOCATION
	 
	 	 	The Executive’s place of employment shall be the Company’s principal executive offices are
currently located at Unit 1112, The Metropolis Tower, 10 Metropolis Drive, Hung Hom,
Kowloon, Hong Kong. [The Executive’s principal place of employment shall be the Company’s
principal executive offices.] / [The Executive agrees that he will be regularly present at
the Company’s principal executive offices.] The Executive acknowledges that he may be
required to travel from time to time in the course of performing his duties for the Company.

 

 

	4.	 	PROBATION
	 
	 	 	No probationary period.
	 
	5.	 	DUTIES AND RESPONSIBILITIES
	 
	 	 	The Executive’s duties at the Company will include all jobs assigned by the Company’s Board
of Directors (the “Board”) and/or the            of the Company.
	 
	 	 	The Executive shall devote all of his working time, attention and skills to the performance
of his duties at the Company and shall faithfully and diligently serve the Company in
accordance with this Agreement, the Memorandum and Articles of Association of the Company
(the “Articles of Association”), and the guidelines, policies and procedures of the
Company approved from time to time by the Board.
	 
	 	 	The Executive shall use his best efforts to perform his duties hereunder. The Executive
shall not hold any other employment, and shall not be concerned or interested in any
business or entity that directly or indirectly competes with the Group (any such business or
entity, a “Competitor”), provided that nothing in this clause shall preclude the
Executive from holding up to [            % of] or             ] shares or other securities of any Competitor
that is listed on any securities exchange or recognized securities market anywhere,
provided however, that the Executive shall notify the Company in writing prior to
his obtaining a proposed interest in such shares or securities in a timely manner and with
such details and particulars as the Company may reasonably require. The Company shall have
the right to require the Executive to resign from any board or similar body which he may
then serve if the Board reasonably determines in writing that the Executive’s service on
such board or body interferes with the effective discharge of the Executive’s duties and
responsibilities to the Company or that any business related to such service is then in
competition with any business of the Company or any of its subsidiaries or affiliates.
	 
	6.	 	NO BREACH OF CONTRACT
	 
	 	 	The Executive hereby represents to the Company that: (i) the execution and delivery of this
Agreement by the Executive and the performance by the Executive of the Executive’s duties
hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other
agreement or policy to which the Executive is a party or otherwise bound, except for
agreements that are required to be entered into by and between the Executive and any member
of the Group pursuant to applicable law of the jurisdiction where the Executive is based, if
any; (ii) that the Executive has no information (including, without limitation, confidential
information and trade secrets) relating to any other person or entity which would prevent,
or be violated by, the Executive entering into this Agreement or carrying out his duties
hereunder; (iii) that the Executive is not bound by any confidentiality, trade secret or
similar agreement (other than this) with any other person or entity except for other
member(s) of the Group, as the case may be.

2

 

	7.	 	COMPENSATION AND BENEFITS

	 	(a)	 	Cash Compensation. The Executive’s salary shall be provided by the
Company pursuant to Schedule A hereto, subject to annual review and adjustment
by the Company.
	 
	 	(b)	 	Equity Incentives. Once the Board and the shareholders of the Company
adopt a share incentive plan of the Company, the Executive will be entitled to receive
an option to purchase            ordinary shares of the Company, and upon such other terms as
determined by the Board.
	 
	 	(c)	 	Benefits. The Executive is eligible for participation in any standard
employee benefit plan of the Company that currently exists or may be adopted by the
Company in the future, including, but not limited to, any retirement plan, life
insurance plan, health insurance plan and travel/holiday plan.
	 
	 	(d)	 	Pension. The Executive is entitled to become a member of the Company’s
mandatory provident fund scheme subject to the terms of its trust deed and rules in
force from time to time. The Executive’s and the Company’s mandatory contributions
shall each be capped at HK$[1,000] per month. No additional voluntary contribution
shall be made by the Company. No withholdings shall be made by the Company other than
the Executive’s mandatory contribution.

	8.	 	TERMINATION OF THE AGREEMENT

	 	(a)	 	By the Company. The Company may terminate the Employment for cause, at
any time, without notice or remuneration, if the Executive (1) commits any serious or
persistent breach or non-observance of the terms and conditions of your employment;
(2):is convicted of a criminal offence other than one which in the opinion of the Board
does not affect the executive’s position as an employee of the Company, bearing in mind
the nature of your duties and the capacity in which the executive is employed; (3)
wilfully disobeys a lawful and reasonable order; (4) misconducts himself or herself
such conduct being inconsistent with the due and faithful discharge of the executive’s
duties; (5) is guilty of fraud or dishonesty; or (6) is habitually neglectful in his or
her duties. Company may terminate the Employment without cause, at any time, upon one
month written notice or by payment of one month salary in lieu of notice.
	 
	 	(b)	 	By the Executive. The Executive may terminate the Employment at any
time with a one-month prior written notice to the Company or by payment of one month
salary in lieu of notice. In addition, the Executive may resign prior to the
expiration of the Agreement if such resignation or an alternative arrangement with
respect to the Employment is approved by the Board.
	 
	 	(c)	 	Notice of Termination. Any termination of the Executive’s employment
under this Agreement shall be communicated by written notice of termination from the terminating party to the other party. The notice of termination shall indicate the
specific provision(s) of this Agreement relied upon in effecting the termination.

3

 

	9.	 	CONFIDENTIALITY AND NONDISCLOSURE

	 	(a)	 	Confidentiality and Non-disclosure. The Executive hereby agrees at all
times during the term of his employment and after termination, to hold in the strictest
confidence, and not to use, except for the benefit of the Group, or to disclose to any
person, corporation or other entity without written consent of the Company, any
Confidential Information. The Executive understands that “Confidential
Information” means any proprietary or confidential information of the Group, its
affiliates, their clients, customers or partners, and the Group’s licensors, including,
without limitation, technical data, trade secrets, research and development
information, product plans, services, customer lists and customers (including, but not
limited to, customers of the Group on whom the Executive called or with whom the
Executive became acquainted during the term of his employment), supplier lists and
suppliers, software, developments, inventions, processes, formulas, technology,
designs, drawings, engineering, hardware configuration information, personnel
information, marketing, finances, information about the suppliers, joint ventures,
licensors, licensees, distributors and other persons with whom the Group does business,
information regarding the skills and compensation of other employees of the Group or
other business information disclosed to the Executive by or obtained by the Executive
from the Group, its affiliates, or their clients, customers or partners either directly
or indirectly in writing, orally or by drawings or observation of parts or equipment,
if specifically indicated to be confidential or reasonably expected to be confidential.
Notwithstanding the foregoing, Confidential Information shall not include information
that is generally available and known to the public through no fault of the Executive.
	 
	 	(b)	 	Company Property. The Executive understands that all documents
(including computer records, facsimile and e-mail) and materials created, received or
transmitted in connection with his work or using the facilities of the Group are
property of the Group and subject to inspection by the Group, at any time. Upon
termination of the Executive’s employment with the Company (or at any other time when
requested by the Company), the Executive will promptly deliver to the Company all
documents and materials of any nature pertaining to his work with the Company and will
provide written certification of his compliance with this Agreement. Under no
circumstances will the Executive have, following his termination, in his possession any
property of the Group, or any documents or materials or copies thereof containing any
Confidential Information.
	 
	 	(c)	 	Former Employer Information. The Executive agrees that he has not and
will not, during the term of his employment, (i) improperly use or disclose any
proprietary information or trade secrets of any former employer or other person or
entity with which the Executive has an agreement or duty to keep in confidence
information acquired by Executive, if any, or (ii) bring into the premises of the Group any
document or confidential or proprietary information belonging to such former
employer, person or entity unless consented to in writing by such former

4

 

	 	 	 	employer, person or entity. The Executive will indemnify the Group and hold it harmless from
and against all claims, liabilities, damages and expenses, including reasonable
attorneys’ fees and costs of suit, arising out of or in connection with any
violation of the foregoing.
	 
	 	(d)	 	Third Party Information. The Executive recognizes that the Group may
have received, and in the future may receive, from third parties their confidential or
proprietary information subject to a duty on the Group’s part to maintain the
confidentiality of such information and to use it only for certain limited purposes.
The Executive agrees that the Executive owes the Group and such third parties, during
the Executive’s employment by the Company and thereafter, a duty to hold all such
confidential or proprietary information in the strictest confidence and not to disclose
it to any person or firm and to use it in a manner consistent with, and for the limited
purposes permitted by, the Group’s agreement with such third party.

	 	 	This Section 9 shall survive the termination of this Agreement for any reason. In the
event the Executive breaches this Section 9, the Company shall have right to seek remedies
permissible under applicable law.
	 
	10.	 	INVENTIONS

	 	(a)	 	Inventions Retained and Licensed. The Executive has attached hereto, as
Schedule B, a list describing all inventions, ideas, improvements, designs and
discoveries, whether or not patentable and whether or not reduced to practice, original
works of authorship and trade secrets made or conceived by or belonging to the
Executive (whether made solely by the Executive or jointly with others) that (i) were
developed by Executive prior to the Executive’s employment by the Company
(collectively, “Prior Inventions”), (ii) relate to the Group’s actual or
proposed business, products or research and development, and (iii) are not assigned to
the Group hereunder; or, if no such list is attached, the Executive represents that
there are no such Prior Inventions. Except to the extent set forth in Schedule
B, the Executive hereby acknowledges and represents that, if in the course of his
service for the Group, the Executive incorporates into a Group product, process or
machine a Prior Invention owned by the Executive or in which he has an interest, (a)
the Group is hereby granted and shall have a nonexclusive, royalty-free, irrevocable,
perpetual, worldwide right and license (which may be freely transferred by the Group to
any other person or entity) to make, have made, modify, use, sell, sublicense and
otherwise distribute such Prior Invention as part of or in connection with such
product, process or machine, and (b) he has all necessary rights, powers and
authorization to use such Prior Invention in the manner it is used and such use will
not infringe any right of any company, entity or person. The Executive hereby agrees
to indemnify the Group and hold it harmless from all claims, liabilities, damages and
expenses, including reasonable legal fees and costs for resolving disputes arising out of or in connection with any
violation or claimed violation of a third party’s rights resulting from any use,
sub-licensing, modification, transfer or sale by the Group of such Prior Invention.

5

 

	 	(b)	 	Disclosure and Assignment of Inventions. The Executive understands that
the Company engages in research and development and other activities in connection with
its business and that, as an essential part of the Employment, the Executive is
expected to make new contributions to and create inventions of value for the Company.
	 
	 	 	 	From and after the Effective Date, the Executive shall make full written disclosure
in confidence to the Company all inventions, improvements, designs, original works
of authorship, formulas, processes, compositions of matter, computer software
programs, databases, mask works, concepts and trade secrets, whether or not
patentable or registrable under patent, copyright, circuit layout design or similar
laws in China or anywhere else in the world, which the Executive may solely or
jointly conceive or develop or reduce to practice, or cause to be conceived or
developed or reduced to practice, during the period of the Executive’s Employment at
the Company (whether or not during business hours) that are either related to the
scope of his Employment at the Company or make use, in any manner, of the resources
of the Group (collectively, the “Inventions”)The Executive hereby
acknowledges that the Company or the Group shall be the sole owner of all rights,
title and interest in the Inventions created hereunder. In the event the foregoing
assignment of Inventions to the Company or the Group is ineffective for any reason,
each member of the Group is hereby granted and shall have a royalty-free,
sub-licensable, transferable, irrevocable, perpetual, worldwide license to make,
have made, modify, use, and sell such Inventions as part of or in connection with
any product, process or machine. Such exclusive license shall continue in effect for
the maximum term as may now or hereafter be permissible under applicable law. Upon
expiration, such license, without further consent or action on the Executive’s part,
shall automatically be renewed for the maximum term as is then permissible under
applicable law, unless, within the six-month period prior to such expiration, the
Company and the Executive have agreed that such license will not be renewed. The
Executive also hereby forever waives and agrees never to assert any and all rights
he may have in or with respect to any Inventions even after termination of his
employment with the Company. The Executive hereby further acknowledges that all
Inventions created by him (solely or jointly with others) are, to the extent
permitted by applicable law, “works made for hire” or “inventions made for hire,” as
those terms are defined in the People’s Republic of China (“PRC”) Copyright
Law, the PRC Patent Law and the Regulations on Computer Software Protection,
respectively, and all titles, rights and interests in or to such Inventions are or
shall be vested in the Company.
	 
	 	(c)	 	Patent and Copyright Registration. The Executive agrees to assist the
Company or its designees in every proper way to obtain for the Company and enforce
patents, copyrights, mask work rights, trade secret rights, and other legal
protection for the Inventions in any and all countries. The Executive will execute
any documents that the Company may reasonably request for use in obtaining or
enforcing such patents, copyrights, mask work rights, trade secrets and other legal
protections. The Executive’s obligations under this paragraph will continue 

6

 

	 	 	 	beyond the termination of the Employment with the Company, provided that the Company will
reasonably compensate the Executive after such termination for time or expenses
actually spent by the Executive at the Company’s request on such assistance. The
Executive appoints the Company and its duly authorized officers and agents as the
Executive’s attorney-in-fact to execute documents on the Executive’s behalf for this
purpose.

	 	(d)	 	Remuneration. The Executive hereby agrees that the remuneration
received by the Executive pursuant to this Agreement with the Company includes any
remuneration which the Executive may be entitled to under applicable PRC law for any
“works made for hire,” “inventions made for hire” or other Inventions assigned to the
Company pursuant to this Agreement.
	 
	 	(e)	 	Return of Confidential Material. In the event of the Executive’s
termination of employment with the Company for any reason whatsoever, Executive agrees
promptly to surrender and deliver to the Company all records, materials, equipment,
drawings, documents and data of any nature pertaining to any confidential information
or to his employment, and Executive will not retain or take with him any tangible
materials or electronically stored data, containing or pertaining to any confidential
information that Executive may produce, acquire or obtain access to during the course
of his employment.

	 	 	This Section 10 shall survive the termination of this Agreement for any reason. In the
event the Executive breaches this Section 10, the Company shall have right to seek remedies
permissible under applicable law.
	 
	11.	 	CONFLICTING EMPLOYMENT.
	 
	 	 	The Executive hereby agrees that, during the term of his employment with the Company, he
will not engage in any other employment, occupation, consulting or other business activity
related to the business in which the Group is now involved or becomes involved during the
term of the Executive’s employment, nor will the Executive engage in any other activities
that conflict with his obligations to the Company without the prior written consent of the
Company.
	 
	12.	 	NON-COMPETITION AND NON-SOLICITATION
	 
	 	 	In consideration of the salary paid to the Executive by the Company, the Executive
undertakes that for a period of [one (1)] year after he ceases to be employed by the
Company, he will not, without the prior written consent of the Company:

	 	(a)	 	in the territory of the PRC (for the purpose of this Section 12, the PRC shall
include Hong Kong, Macau and Taiwan) (the “Territory”), either on his own
account or through any of his affiliates, or in conjunction with or on behalf of any
other person, carry on or be engaged, concerned or interested directly or indirectly
whether as shareholder, director, employee, partner, agent or otherwise carry on any
business in direct competition with the business of the Group;

7

 

	 	(b)	 	either on his own account or through any of his affiliates or in conjunction
with or on behalf of any other person, solicit or entice away or attempt to solicit or
entice away from the Group, any person, firm, company or organization who is or shall
at any time within [two (2)] years prior to such cessation have been a customer,
client, representative or agent of the Group or in the habit of dealing with the Group;
	 
	 	(c)	 	either on his own account or through any of his affiliates or in conjunction
with or on behalf of any other person, employ, solicit or entice away or attempt to
employ, solicit or entice away from the Group any person who is or shall have been at
the date of or within twelve (12) months prior to such cessation of employment an
officer, manager, consultant or employee of any such the Group whether or not such
person would commit a breach of contract by reason of leaving such employment; or
	 
	 	(d)	 	either on his own account or through any of his affiliates or in conjunction
with or on behalf of any other person, in relation to any trade, business or company
use a name including the words [“LandV”, “Le Gaga”] or any other words hereafter used
by the Group in its name or in the name of any of its products, services or their
derivative terms, or the Chinese or English equivalent or any similar word in such a
way as to be capable of or likely to be confused with the name of the Group or the
product or services or any other products or services of the Group, and shall use all
reasonable endeavors to procure that no such name shall be used by any of his
affiliates or otherwise by any person with which he is connected.

	 	 	Each and every obligation under Section 12 shall be treated as a separate obligation and
shall be severally enforceable as such and in the event of any obligation or obligations
being or becoming unenforceable in whole or in part, such part or parts which are
unenforceable shall be deleted from such section and any such deletion shall not affect the
enforceability of the remainder parts of such section.
	 
	 	 	The Executive agrees that in light of the circumstances, the restrictive covenants contained
in Section 12 are reasonable and necessary for the protection of the Group, and further
agrees that having regard to those circumstances the said covenants and are not excessive or
unduly onerous upon the Executive. However, it is recognized that restrictions of the
nature in question may fail for technical reasons currently unforeseen and accordingly it is
hereby agreed and declared that if any of such restrictions shall be adjudged to be void as
going beyond what is reasonable, in light of the circumstances, for the protection of the
Group, but would be valid if part of the wording thereof were deleted or the periods thereof
reduced or the range of activities or area dealt with thereby reduced in scope, the said
restriction shall apply with such modification as may be necessary to make it valid and
effective.
	 
	 	 	This Section 12 shall survive the termination of this Agreement for any reason. In the
event the Executive breaches this Section 12, the Executive acknowledges that there will be
no adequate remedy at law, and the Company shall be entitled to injunctive relief and/or a
decree for specific performance, and such other relief as may be proper 

8

 

	 	 	(including monetary damages if appropriate). In any event, the Company shall have right to seek all remedies
permissible under applicable law.

	13.	 	NOTIFICATION OF NEW EMPLOYER
	 
	 	 	In the event that the Executive leaves the employ of the Company, the Executive hereby
grants consent to notification by the Company to his or her new employer about his or her
rights and obligations under this Agreement.
	 
	14.	 	ASSIGNMENT
	 
	 	 	This Agreement is personal in its nature and neither of the parties hereto shall, without
the consent of the other, assign or transfer this Agreement or any rights or obligations
hereunder; provided, however, that (i) the Company may assign or transfer this Agreement or
any rights or obligations hereunder to any member of the Group without such consent, and
(ii) in the event of a merger, consolidation, or transfer or sale of all or substantially
all of the assets of the company with or to any other individual(s) or entity, this
Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit
of such successor and such successor shall discharge and perform all the promises,
covenants, duties, and obligations of the Company hereunder.
	 
	15.	 	SEVERABILITY
	 
	 	 	If any provision of this Agreement or the application thereof is held invalid, the
invalidity shall not affect other provisions or applications of this Agreement which can be
given effect without the invalid provisions or applications and to this end the provisions
of this Agreement are declared to be severable.
	 
	16.	 	ENTIRE AGREEMENT
	 
	 	 	This Agreement constitutes the entire agreement and understanding between the Executive and
the Company regarding the terms of the Employment and supersedes all prior or
contemporaneous oral or written agreements concerning such subject matter. The Executive
acknowledges that he has not entered into this Agreement in reliance upon any
representation, warranty or undertaking which is not set forth in this Agreement. Any
amendment to this Agreement must be in writing and signed by the Executive and the Company.
	 
	17.	 	REPRESENTATIONS
	 
	 	 	The Executive hereby agrees to execute any proper oath or verify any proper document
required to carry out the terms of this Agreement. The Executive hereby represents that the
Executive’s performance of all the terms of this Agreement will not breach any
agreement to keep in confidence proprietary information acquired by the Executive in
confidence or in trust prior to his or her employment by the Company. The Executive has not
entered into, and hereby agrees that he or she will not enter into, any oral or written
agreement in conflict with this Section 18.

9

 

	18.	 	GOVERNING LAW
	 
	 	 	This Agreement shall be governed by and construed in accordance with the law of the Hong
Kong Special Administrative Region.
	 
	19.	 	AMENDMENT
	 
	 	 	This Agreement may not be amended, modified or changed (in whole or in part), except by a
formal, definitive written agreement expressly referring to this Agreement, which agreement
is executed by both of the parties hereto.
	 
	20.	 	WAIVER
	 
	 	 	Neither the failure nor any delay on the part of a party to exercise any right, remedy,
power or privilege under this Agreement shall operate as a waiver thereof, nor shall any
single or partial exercise of any right, remedy, power or privilege preclude any other or
further exercise of the same or of any right, remedy, power or privilege, nor shall any
waiver of any right, remedy, power or privilege with respect to any occurrence be construed
as a waiver of such right, remedy, power or privilege with respect to any other occurrence.
No waiver shall be effective unless it is in writing and is signed by the party asserted to
have granted such waiver.
	 
	21.	 	NOTICES
	 
	 	 	All notices, requests, demands and other communications required or permitted under this
Agreement shall be in writing and shall be deemed to have been duly given and made if (i)
delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by a
recognized courier with next-day or second-day delivery to the last known address of the
other party.
	 
	22.	 	COUNTERPARTS
	 
	 	 	This Agreement may be executed in any number of counterparts, each of which shall be deemed
an original as against any party whose signature appears thereon, and all of which together
shall constitute one and the same instrument. This Agreement shall become binding when one
or more counterparts hereof, individually or taken together, shall bear the signatures of
all of the parties reflected hereon as the signatories. Photographic copies of such signed
counterparts may be used in lieu of the originals for any purpose.
	 
	23.	 	NO INTERPRETATION AGAINST DRAFTER
	 
	 	 	Each party recognizes that this Agreement is a legally binding contract and acknowledges
that he has had the opportunity to consult with legal counsel of choice. In any
construction of the terms of this Agreement, the same shall not be construed against either
party on the basis of that party being the drafter of such terms. The Executive agrees and
acknowledges that he has read and understands this Agreement, is entering 

10

 

	 	 	into it freely and voluntarily, and has been advised to seek counsel prior to entering into this Agreement and
has ample opportunity to do so.

[Remainder of this page intentionally has been intentionally left blank.]

11

 

IN WITNESS WHEREOF, this Agreement has been executed as of the date first written above.

	 	 	 	 	 
	Le Gaga Holdings Limited

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 

Signature Page to Employment Agreement

 

 

Executive

	 	 	 	 	 
	Signature: 	 	
 	 	 
	Name: 	 	
 	 	 
	 	 	 
	 

Signature Page to Employment Agreement

 

 

Schedule A

Cash Compensation

	 	 	 	 	 
	 	 	Amount	 	Pay Period
	Salary

	 	[HK$]             annually
	 	[HK$]             to be paid monthly

Schedule A to Employment Agreement

 

 

Schedule B

List of Prior Inventions

	 	 	 	 	 
	 	 	 	 	Identifying Number
	Title	 	Date	 	or Brief Description
	 

	 	 	 	 

______ No inventions or improvements

______ Additional Sheets Attached

Signature of Executive: ________________

Print Name of Executive: ________________

Date: __________________, 2010

Schedule B to Employment Agreement

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