Document:

Exhibit
10.10

 

HeartCore
Enterprises, Inc.

 

Independent
Director Agreement

 

(Director
Name: ________________)

 

Dated
as of [_________], 2021

 

This
Independent Director Agreement (this “Agreement”), dated and made effective as of the date first set forth above (the “Effective
Date”), is entered into by and between HeartCore Enterprises, Inc., a Delaware Corporation (“Company”), and [_____________],
an individual resident of [____________] (“Director”). The Company and Director may be referred to herein individually as
a “Party” or collectively as the “Parties”.

 

WHEREAS,
the Company has appointed the Director to the Board of Directors of Company (the “Board”) on the Effective Date and now desires
to enter into an agreement with the Director with respect to Director’s continuing service as a director of Company; and

 

WHEREAS,
the Director is willing to continue serving as a director of Company upon the terms and conditions set forth herein and in accordance
with the provisions of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged. the Parties hereby agree as follows:

 

	1.	Defined
    Terms. Wherever the following terms are used in this Agreement, they shall have the meanings ascribed to them below, unless the
    context clearly indicates otherwise. Other capitalized terms in this Agreement are defined in the text hereof.
	 	 	 	 
	 	 	(a)	“Affiliate”
    means, with reference to Company, any other Person controlling, controlled by or under the common control of Company. For purposes
    hereof, the term “control” (or any equivalent term) means having ownership of more than fifty percent (50%) of the voting
    securities of a Person or the power, whether through voting power or otherwise, to control the management policies of such Person.
	 	 	 	 
	 	 	(b)	“Common
    Stock” means the common stock, par value $0.001 per share, of Company.
	 	 	 	 
	 	 	(c)	“Person”
    means any natural person, corporation, company, partnership (including both general and limited partnerships), limited liability
    company, sole proprietorship, association, joint stock company, firm, trust, trustee, joint venture, unincorporated organization,
    executor, administrator, legal representative or other legal entity, including any governmental authority, entity or instrumentality.

 

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	2.	Duties.
	 	 	 	 
	 	 	(a)	Director
    agrees to serve as an independent Director of the Company and to be available to perform the duties consistent with such position
    pursuant to the Certificate of Incorporation and Bylaws of the Company, and any additional codes, guidelines or policies of the Company
    that may be effective now or in the future (collectively, the “Governance Documents”) and the laws of the state of Delaware.
    The Company acknowledges that Director currently holds other positions (“Other Employment”) and agrees that Director
    may maintain such positions, provided that such Other Employment shall not materially interfere with Director’s obligations
    under this Agreement. Director confirms that Director expects Director will be able to devote sufficient time and attention to the
    Company as is necessary to fulfill Director’s responsibilities as a Director of the Company and that Director expects the Other
    Employment will not in any way impact Director’s independence, and if Director determines that is no longer the case, Director
    will promptly notify the Company. Such time and attention shall include, without limitation, participation in telephonic and/or in-person
    meetings of the Board; provided, that Director is given reasonable advance notice of such meetings and they are scheduled at times
    when Director is available. Director also represents that the Other Employment shall not materially and unreasonably interfere with
    Director’s obligations under this Agreement. Subject to the forgoing, Director will use Director’s best efforts to promote
    the interests of Company and its shareholders.
	 	 	 	 
	 	 	(b)	Without
    limiting the generality of the foregoing, Director confirms that Director is independent (as such term has been construed under Delaware
    law with respect to directors of Delaware corporations and the OTC Markets, the NASDAQ Stock Exchange and the New York Stock Exchange).
    Director also confirms that, to Director’s knowledge, (a) Director does not possess material business, close personal relationships
    or other affiliations, or any history of any such material business, close personal relationships or other affiliations, with the
    Company’s significant equity or debt holders or any of their respective corporate affiliates that would cause Director to be
    unable to (i) exercise independent judgment based on the best interests of the Company or (ii) make decisions and carry out Director’s
    responsibilities as a Director of the Company, in each case in accordance with the terms of the Governance Documents and applicable
    law, and (b) Director has no existing relationship or affiliation of any kind with any entity Director knows to be a competitor of
    the Company.
	 	 	 	 
	 	 	(c)	[In
    addition to Director’s service on the Board, Director agrees that, if so selected by the Board, Director shall serve on the
    [Compensation Committee, Audit Committee/Nomination Committee] of the Board].
	 	 	 	 
	 	 	(d)	By
    execution of this Agreement, Director accepts Director’s appointment or election as an independent Director of the Company,
    and agrees to serve in such capacity, subject to the terms of this Agreement, until Director’s successor is duly elected and
    qualified or until Director’s earlier death, resignation or removal. The Parties acknowledge and agree that Director is being
    engaged to serve as an independent Director of the Company only and is not being engaged to serve, and shall not serve, the Company
    in any other capacity.

 

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	 	 	(e)	Director’s
    status during the Term (as defined below) shall be that of an independent contractor and not, for any purpose, that of an employee
    or agent with authority to bind the Company in any respect. All payments and other consideration made or provided to the Director
    hereunder shall be made or provided without withholding or deduction of any kind, and the Director shall assume sole responsibility
    for discharging all tax or other obligations associated therewith.
	 	 	 	 
	3.	Term.
    The term of this Agreement shall continue until the earliest of (a) such time as Director resigns or is removed in accordance with
    the Governance Documents, and (b) the death of the Director (the “Term”).
	 	 
	4.	Compensation.
    For all services to be rendered by Director hereunder, and so long as Director remains a Director of the Company, the Company shall,
    during the Term, pay to Director the compensation and reimbursement of expenses as set forth in this Section 3.
	 	 	 	 
	 	 	(a)	Director
    shall be paid the sum of $50,000 annually for Director’s service as a director of the Company, to be paid $12,500 each calendar
    quarter, payable within 5 business days of the end of each calendar quarter, and with such amount for any partial calendar quarter
    being appropriately prorated.
	 	 	 	 
	 	 	(b)	Director
    shall be paid the following compensation for service on committees of the Board:

 

	 	 	(i)	For
    as long as the Director serves as a member of the Compensation Committee, the Director shall be paid the sum of $7,500 annually for
    such service, to be paid $1,875 each calendar quarter, payable within 5 business days of the end of each calendar quarter, and with
    such amount for any partial calendar quarter being appropriately prorated.
	 	 	 	 
	 	 	(ii)	For
    as long as the Director serves as the Chairman of the Compensation Committee, the Director shall be paid an additional sum of $7,500
    annually for such service, to be paid $1,875 each calendar quarter, payable within 5 business days of the end of each calendar quarter,
    and with such amount for any partial calendar quarter being appropriately prorated.
	 	 	 	 
	 	 	(iii)	For
    as long as the Director serves as a member of the Audit Committee, the Director shall be paid the sum of $7,500 annually for such
    service, to be paid $1,875 each calendar quarter, payable within 5 business days of the end of each calendar quarter, and with such
    amount for any partial calendar quarter being appropriately prorated.
	 	 	 	 
	 	 	(iv)	For
    as long as the Director serves as the Chairman of the Audit Committee, the Director shall be paid an additional sum of $7,500 annually
    for such service, to be paid $1,875 each calendar quarter, payable within 5 business days of the end of each calendar quarter, and
    with such amount for any partial calendar quarter being appropriately prorated.

 

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	 	 	(v)	For
    as long as the Director serves as a member of the Nominating Committee, the Director shall be paid the sum of $5,000 annually for
    such service, to be paid $1,250 each calendar quarter, payable within 5 business days of the end of each calendar quarter, and with
    such amount for any partial calendar quarter being appropriately prorated.
	 	 	 	 
	 	 	(vi)	For
    as long as the Director serves as the Chairman of the Nominating Committee, the Director shall be paid an additional sum of $5,000
    annually for such service, to be paid $1,250 each calendar quarter, payable within 5 business days of the end of each calendar quarter,
    and with such amount for any partial calendar quarter being appropriately prorated.

 

	 	 	(c)	During
    the Term, Company shall reimburse Director for all reasonable out-of-pocket expenses incurred by Director in attending any in-person
    meetings, provided that Director complies with the generally applicable policies, practices and procedures of the Company for submission
    of expense reports, receipts or similar documentation of such expenses. Any reimbursements for allocated expenses (as compared to
    out-of-pocket expenses of the Director in excess of $500.00) must be approved in advance by the Company.
	 	 	 	 
	5.	Confidentiality.
	 	 	 	 
	 	 	(a)	Definition.
    For purposes of this Agreement, “Confidential Information” shall mean all Company Work Product (as hereinafter defined)
    and all non-public written, electronic, and oral information or materials of Company communicated to or otherwise obtained by Director
    in connection with this Agreement, which is related to the products, business and activities of Company, its Affiliates, and subsidiaries,
    and their respective customers, clients, suppliers, and other entities with which such party does business, including: (i) all costing,
    pricing, technology, software, documentation, research, techniques, procedures, processes, discoveries, inventions, methodologies,
    data, tools, templates, know how, intellectual property and all other proprietary information of Company; (ii) the terms of this
    Agreement; and (iii) any other information identified as confidential in writing by Company. Confidential Information shall not include
    information that: (a) was lawfully known by Director without an obligation of confidentiality before its receipt from Company; (b)
    is independently developed by Director without reliance on or use of Confidential Information; (c) is or becomes publicly available
    without a breach by Director of this Agreement; or (d) is disclosed to Director by a third party which is not required to maintain
    its confidentiality. An “Affiliate” of a Party shall mean any entity directly or indirectly controlling, controlled by,
    or under common control with, such Party at any time during the Term for so long as such control exists.
	 	 	 	 
	 	 	(b)	Company
    Ownership. Company shall retain all right, title, and interest to the Confidential Information, including all copies thereof
    and all rights to patents, copyrights, trademarks, trade secrets and other intellectual property rights inherent therein and appurtenant
    thereto. Subject to the terms and conditions of this Agreement, Company hereby grants Director a non-exclusive, non-transferable,
    license during the Term to use any Confidential Information solely to the extent that such Confidential Information is necessary
    for the performance of Director’s duties hereunder. Director shall not, by virtue of this Agreement or otherwise, acquire any
    proprietary rights whatsoever in Confidential Information, which shall be the sole and exclusive property and confidential information
    of Company. No identifying marks, copyright or proprietary right notices may be deleted from any copy of Confidential Information.
    Nothing contained herein shall be construed to limit the rights of Company from performing similar services for, or delivering the
    same or similar deliverable to, third parties using the Confidential Information and/or using the same personnel to provide any such
    services or deliverables.

 

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	 	 	(c)	Confidentiality
    Obligations. Director agrees to hold the Confidential Information in confidence and not to copy, reproduce, sell, assign, license,
    market, transfer, give or otherwise disclose such Confidential Information to any person or entity or to use the Confidential Information
    for any purposes whatsoever, without the express written permission of Company, other than disclosure to Director’s, partners,
    principals, directors, officers, employees, subcontractors and agents on a “need-to-know” basis as reasonably required
    for the performance of Director’s obligations hereunder or as otherwise agreed to herein. Director shall be responsible to
    Company for any violation of this Section 5 by Director’s employees, subcontractors, and agents. Director shall maintain the
    Confidential Information with the same degree of care, but no less than a reasonable degree of care, as Director employs concerning
    its own information of like kind and character.
	 	 	 	 
	 	 	(d)	Required
    Disclosure. If Director is requested to disclose any of the Confidential Information as part of an administrative or judicial
    proceeding, Director shall, to the extent permitted by applicable law, promptly notify Company of that request and cooperate with
    Company, at Company’s expense, in seeking a protective order or similar confidential treatment for the Confidential Information.
    If no protective order or other confidential treatment is obtained, Director shall disclose only that portion of Confidential Information
    which is legally required and will exercise all reasonable efforts to obtain reliable assurances that confidential treatment will
    be accorded the Confidential Information which is required to be disclosed.
	 	 	 	 
	 	 	(e)	Enforcement.
    Director acknowledges that the Confidential Information is unique and valuable, and that remedies at law will be inadequate to protect
    Company from any actual or threatened breach of this Section 5 by Director and that any such breach would cause irreparable and continuing
    injury to Company. Therefore, Director agrees that Company shall be entitled to seek equitable relief with respect to the enforcement
    of this Section 5 without any requirement to post a bond, including, without limitation, injunction and specific performance, without
    proof of actual damages or exhausting other remedies, in addition to all other remedies available to Company at law or in equity.
    For greater clarity, in the event of a breach or threatened breach by Director of any of the provisions of this Section 5, in addition
    to and not in limitation of any other rights, remedies or damages available at law or in equity, Company shall be entitled to a permanent
    injunction or other like remedy in order to prevent or restrain any such breach or threatened breach by Director, and Director agrees
    that an interim injunction may be granted against Director immediately on the commencement of any action, claim, suit or proceeding
    by Company to enforce the provisions of this Section 5, and Director further irrevocably consents to the granting of any such interim
    or permanent injunction or any like remedy. If any action at law or in equity is necessary to enforce the terms of this Section 5,
    Director, if it is determined to be at fault, shall pay Company’s reasonable legal fees and expenses on a substantial indemnity
    basis.

 

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	 	 	(f)	Related
    Duties. Director shall: (i) promptly deliver to Company upon Company’s request all materials in Director’s possession
    which contain Confidential Information; (ii) use its best efforts to prevent any unauthorized use or disclosure of the Confidential
    Information; (iii) notify Company in writing immediately upon discovery of any such unauthorized use or disclosure; and (iv) cooperate
    in every reasonable way to regain possession of any Confidential Information and to prevent further unauthorized use and disclosure
    thereof.
	 	 	 	 
	 	 	(g)	Legal
    Exceptions. Further notwithstanding the foregoing provisions of this Section 5, Director may disclose confidential information
    as may be expressly required by law, governmental rule, regulation, executive order, court order, or in connection with a dispute
    between the Parties; provided that prior to making any such disclosure, subject to applicable law, Director shall use its best efforts
    to: (i) provide Company with at least fifteen (15) days’ prior written notice setting forth with specificity the reason(s)
    for such disclosure, supporting documentation therefor, and the circumstances giving rise thereto; and (ii) limit the scope and duration
    of such disclosure to the strictest possible extent.
	 	 	 	 
	 	 	(h)	Limitation.
    Except as specifically set forth herein, no licenses or rights under any patent, copyright, trademark, or trade secret are granted
    by Company to Director hereunder, or are to be implied by this Agreement. Except for the restrictions on use and disclosure of Confidential
    Information imposed in this Agreement, no obligation of any kind is assumed or implied against either Party or their Affiliates by
    virtue of meetings or conversations between the Parties hereto with respect to the subject matter stated above or with respect to
    the exchange of Confidential Information. Each Party further acknowledges that this Agreement and any meetings and communications
    of the Parties and their affiliates relating to the same subject matter shall not: (i) constitute an offer, request, invitation or
    contract with the other Party to engage in any research, development or other work; (ii) constitute an offer, request, invitation
    or contract involving a buyer-seller relationship, joint venture, teaming or partnership relationship between the Parties and their
    affiliates; or (iii) constitute a representation, warranty, assurance, guarantee or inducement with respect to the accuracy or completeness
    of any Confidential Information or the non-infringement of the rights of third persons.
	 	 	 	 
	6.	Intellectual
    Property Rights.
	 	 	 	 
	 	 	(a)	Disclosure
    of Work Product. As used in this Agreement, the term “Work Product” means any invention, whether or not patentable,
    know-how, designs, mask works, trademarks, formulae, processes, manufacturing techniques, trade secrets, ideas, artwork, software
    or any copyrightable or patentable works. Director agrees to disclose promptly in writing to Company, or any person designated by
    Company, all Work Product that is solely or jointly conceived, made, reduced to practice, or learned by Director in the course of
    any work performed for Company (“Company Work Product”). Director agrees (a) to use Director’s best efforts to
    maintain such Company Work Product in trust and strict confidence; (b) not to use Company Work Product in any manner or for any purpose
    not expressly set forth in this Agreement; and (c) not to disclose any such Company Work Product to any third party without first
    obtaining Company’s express written consent on a case-by-case basis.

 

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	 	 	(b)	Ownership
    of Company Work Product. Director agrees that any and all Company Work Product conceived, written, created or first reduced to
    practice in the performance of work under this Agreement shall be deemed “work for hire” under applicable law and shall
    be the sole and exclusive property of Company.
	 	 	 	 
	 	 	(c)	Assignment
    of Company Work Product. Director irrevocably assigns to Company all right, title and interest worldwide in and to the Company
    Work Product and all applicable intellectual property rights related to the Company Work Product, including without limitation, copyrights,
    trademarks, trade secrets, patents, moral rights, contract and licensing rights (the “Proprietary Rights”). Except as
    set forth below, Director retains no rights to use the Company Work Product and agrees not to challenge the validity of Company’s
    ownership in the Company Work Product. Director hereby grants to Company a perpetual, non-exclusive, fully paid-up, royalty-free,
    irrevocable and world-wide right, with rights to sublicense through multiple tiers of sublicensees, to reproduce, make derivative
    works of, publicly perform, and display in any form or medium whether now known or later developed, distribute, make, use and sell
    any and all Director owned or controlled Work Product or technology that Director uses to complete the services and which is necessary
    for Company to use or exploit the Company Work Product.
	 	 	 	 
	 	 	(d)	Assistance.
    Director agrees to cooperate with Company or its designee(s), both during and after the Term, in the procurement and maintenance
    of Company’s rights in Company Work Product and to execute, when requested, any other documents deemed necessary by Company
    to carry out the purpose of this Agreement. Director will assist Company in every proper way to obtain, and from time to time enforce,
    United States and foreign Proprietary Rights relating to Company Work Product in any and all countries. Director’s obligation
    to assist Company with respect to Proprietary Rights relating to such Company Work Product in any and all countries shall continue
    beyond the termination of this Agreement, but Company shall compensate Director at a reasonable rate to be mutually agreed upon after
    such termination for the time actually spent by Director at Company’s request on such assistance.
	 	 	 	 
	 	 	(e)	Execution
    of Documents. In the event Company is unable for any reason, after reasonable effort, to
    secure Director’s signature on any document requested by Company pursuant to this Section 6 within seven (7) days of the Company’s
    initial request to Director, Director hereby irrevocably designates and appoints Company and its duly authorized officers and agents
    as its agent and attorney in fact, which appointment is coupled with an interest, to act for and on its behalf solely to execute,
    verify and file any such documents and to do all other lawfully permitted acts to further the purposes of this Section 6 with the
    same legal force and effect as if executed by Director. Director hereby waives and quitclaims to Company any and all claims, of any
    nature whatsoever, which Director now or may hereafter have for infringement of any Proprietary Rights assignable hereunder to Company.

 

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	 	 	(f)	Director
    Representations and Warranties. Director hereby represents and warrants that: (i) Company Work Product will be an original work
    of Director or all applicable third parties will have executed assignments of rights reasonably acceptable to Company; (ii) neither
    the Company Work Product nor any element thereof will infringe the intellectual property rights of any third party; (iii) neither
    the Company Work Product nor any element thereof will be subject to any restrictions or to any mortgages, liens, pledges, security
    interests, encumbrances or encroachments; (iv) Director will not grant, directly or indirectly, any rights or interest whatsoever
    in the Company Work Product to any third party; (v) Director has full right and power to enter into and perform Director’s
    obligations under this Agreement without the consent of any third party; (vi) Director will use best efforts to prevent injury to
    any person (including employees of Company) or damage to property (including Company’s property) during the Term; and (vii)
    should Company permit Director to use any of Company’s equipment, tools, or facilities during the Term, such permission shall
    be gratuitous and Director shall be responsible for any injury to any person (including death) or damage to property (including Company’s
    property) arising out of use of such equipment, tools or facilities.
	 	 	 	 
	7.	Director’s
    Representation and Acknowledgment. Director represents to the Company that Director’s execution and performance of this
    Agreement shall not be in violation of any agreement or obligation (whether or not written) that Director may have with or to any
    person or entity, including without limitation, any prior or current employer. The Director hereby acknowledges and agrees that this
    Agreement (and any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the Director
    shall have no recourse whatsoever against any shareholder of Company or any of any of its affiliate or subsidiary companies with
    respect to any matter arising under this Agreement.
	 	 
	8.	Effect
    of Waiver. The waiver by either Party of a breach of any provision of this Agreement shall not operate or be construed as a waiver
    of any subsequent breach hereof. No waiver shall be valid unless in writing.
	 	 
	9.	Assignment.
    No Party shall have any power or any right to assign or transfer, in whole or in part, this Agreement, or any of its rights or any
    of its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Agreement
    or the transactions contemplated herein, or to pursue any claim for any breach or default of this Agreement, or any right arising
    from the purported assignor’s due performance of its obligations hereunder, without the prior written consent of the other
    Party and any such purported assignment in contravention of the provisions herein shall be null and void and of no force or effect,
    provided that, notwithstanding the foregoing, the Company may transfer, assign or delegate to any successor (whether direct or indirect,
    by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company any of
    Company’s rights, obligations or duties hereunder.
	 	 
	10.	No
    Third-Party Rights. Except as expressly provided in this Agreement, this Agreement is intended solely for the benefit of the
    Parties hereto and is not intended to confer any benefits upon, or create any rights in favor of, any person or entity other than
    the Parties hereto.

 

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	11.	Entire
    Agreement; Effectiveness of Agreement. This Agreement sets forth the entire agreement of the Parties hereto and shall supersede
    any and all prior agreements and understandings concerning the Director’s employment by the Company. This Agreement may be
    changed only by a written document signed by the Director and the Company.
	 	 
	12.	Survival.
    The provisions of Section 5, Section 6, and Section 9 through Section 23, inclusive, shall survive any termination or expiration
    of this Agreement, and provided that any expiration or termination of this Agreement shall not excuse a Party from compliance with,
    or fulfillment of, any obligations or conditions which arose prior to such expiration or termination.
	 	 
	13.	Severability.
    If any one or more of the provisions, or portions of any provision, of the Agreement shall be held to be invalid, illegal or unenforceable,
    the validity, legality or enforceability of the remaining provisions or parts hereof shall not in any way be affected or impaired
    thereby.
	 	 
	14.	Governing
    Law and Waiver of Jury Trial.
	 	 	 	 
	 	 	(a)	All
    questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined, and this Agreement
    shall be governed by and construed and enforced in accordance with the internal laws of the State of Delaware, and for all purposes
    shall be construed in accordance with the laws of such state, without giving effect to the choice of law provisions of such state.
	 	 	 	 
	 	 	(b)	Subject
    to Section 15, each Party agrees that all legal proceedings concerning this Agreement shall be commenced in the state and federal
    courts sitting in SANTA CLARA COUNTY, CALIFORNIA (the “Selected Courts”). Each Party hereto hereby irrevocably submits
    to the exclusive jurisdiction of the Selected Courts for the adjudication of any dispute hereunder or in connection herewith or with
    any transaction contemplated hereby or discussed herein (including with respect to the enforcement of the rights of a Party under
    this Agreement), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is
    not personally subject to the jurisdiction of such Selected Courts, or such Selected Courts are improper or inconvenient venue for
    such proceeding. Each Party hereby irrevocably waives personal service of process and consents to process being served in any such
    suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)
    to such Party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good
    and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
    process in any other manner permitted by applicable law.

 

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	 	 	(c)	TO
    THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
    OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES
    THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
    NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE
    BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 14(c).
	 	 	 	 
	 	 	(d)	Subject
    to the provisions of Section 15, if any Party shall commence an action or proceeding to enforce any provisions of this Agreement,
    then the prevailing Party in such action or proceeding shall be reimbursed by the other Party for its attorney’s fees and other
    costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.
	 	 	 	 
	15.	Arbitration.
    Any controversy, claim or dispute arising out of or relating to this Agreement or the Director’s employment by the Company,
    including, but not limited to, common law and statutory claims for discrimination, wrongful discharge, and unpaid wages, shall be
    resolved by arbitration in Los Altos, California pursuant to then-prevailing National Rules for the Resolution of Employment Disputes
    of the American Arbitration Association. The arbitration shall be conducted by three arbitrators, with one arbitrator selected by
    each Party and the third arbitrator selected by the two arbitrators so selected by the Parties. The arbitrators shall be bound to
    follow the applicable Agreement provisions in adjudicating the dispute. It is agreed by both Parties that the arbitrators’
    decision is final, and that no Party may take any action, judicial or administrative, to overturn such decision. The judgment rendered
    by the arbitrators may be entered in the Selected Courts. Each Party will pay its own expenses of arbitration and the expenses of
    the arbitrators will be equally shared provided that, if in the opinion of the arbitrators any claim, defense, or argument raised
    in the arbitration was unreasonable, the arbitrators may assess all or part of the expenses of the other Party (including reasonable
    attorneys’ fees) and of the arbitrators as the arbitrators deem appropriate. The arbitrators may not award either Party punitive
    or consequential damages.
	 	 
	16.	General
    Remedies. Each Party acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the other Party,
    and thus each Party acknowledges that the remedy at law for a breach of its obligations under this Agreement will be inadequate and
    agrees, in the event of a breach or threatened breach by such Party of the provisions of this Agreement, that the other Party shall
    be entitled, in addition to all other available remedies at law or in equity, and in addition to the penalties assessable herein,
    to an injunction or injunctions restraining, preventing or curing any breach of this Agreement and to enforce specifically the terms
    and provisions hereof, without the necessity of showing economic loss and without any bond or other security being required.

 

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	17.	Indemnification.
    During the Term, the Director shall be entitled to indemnification and insurance coverage for officers’ liability, fiduciary
    liability and other liabilities arising out of the Director’s position with the Company in any capacity, in an amount not less
    than the highest amount available to any other director, and such coverage and protections, with respect to the various liabilities
    as to which the Director has been customarily indemnified prior to termination of employment, shall continue for at least six years
    following the end of the Term. Any indemnification agreement entered into between the Company and the Director shall continue in
    full force and effect in accordance with its terms following the termination of this Agreement.
	 	 
	18.	Expenses.
    Other than as specifically set forth herein, each of the Parties will bear their own respective expenses, including legal, accounting
    and professional fees, incurred in connection with this Agreement and the transactions contemplated herein.
	 	 
	19.	Notices.
    All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other Party, or by
    registered or certified mail, return receipt requested, postage prepaid, or by email with return receipt requested and received or
    nationally recognized overnight courier service, addressed as set forth below or to such other address as either Party shall have
    furnished to the other in writing in accordance herewith. All notices, requests, demands and other communications shall be deemed
    to have been duly given (i) when delivered by hand, if personally delivered, (ii) when delivered by courier or overnight mail, if
    delivered by commercial courier service or overnight mail, and (iii) on receipt of confirmed delivery, if sent by email.

 

If
to the Company:

 

HeartCore
Enterprises, Inc.

Attn:
Sumitaka Yamamoto

848
Jordan Ave. Apt. G

Los
Altos CA 94022

Email:
kanno@heartcore.co.jp

 

With
a copy, which shall not constitute notice, to:

 

Anthony
L.G., PLLC

Attn:
John Cacomanolis

625
N. Flagler Drive, Suite 600

West
Palm Beach, FL 33401

Email:
JCacomanolis@anthonypllc.com

 

If
to Director, to:

 

[____________]

[____________]

[____________]

Email:
[____________]

 

	20.	Headings.
    The section headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or
    interpretation of this Agreement.

 

    	11

     

    

 

	21.	Counsel.
    The Parties acknowledge and agree that Anthony L.G., PLLC (“Counsel”) has acted as legal counsel to the Company, and
    that Counsel has prepared this Agreement at the request of the Company, and that Counsel is not legal counsel to Director individually.
    Each of the Parties acknowledges and agrees that they are aware of, and have consented to, the Counsel acting as legal counsel to
    the Company and preparing this Agreement, and that Counsel has advised each of the Parties to retain separate counsel to review the
    terms and conditions of this Agreement and the other documents to be delivered in connection herewith, and each Party has either
    waived such right freely or has otherwise sought such additional counsel as it has deemed necessary. Each of the Parties acknowledges
    and agrees that Counsel does not owe any duties to Director in Director’s individual capacity in connection with this Agreement
    and the transactions contemplated herein. Each of the Parties hereby waives any conflict of interest which may apply with respect
    to Counsel’s actions as set forth herein, and the Parties confirm that the Parties have previously negotiated the material
    terms of the agreements as set forth herein.
	 	 
	22.	Rule
    of Construction. The general rule of construction for interpreting a contract, which provides that the provisions of a contract
    should be construed against the Party preparing the contract, is waived by the Parties hereto. Each Party acknowledges that such
    Party was represented by separate legal counsel in this matter who participated in the preparation of this Agreement or such Party
    had the opportunity to retain counsel to participate in the preparation of this Agreement but elected not to do so.
	 	 
	23.	Execution
    in Counterparts, Electronic Transmission. This Agreement may be executed in any number of counterparts, each of which shall be
    deemed an original. The signature of any Party which is transmitted by any reliable electronic means such as, but not limited to,
    a photocopy, electronically scanned or facsimile machine, for purposes hereof, is to be considered as an original signature, and
    the document transmitted is to be considered to have the same binding effect as an original signature or an original document.

 

[Signatures
appear on following page]

 

    	12

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

 

	 	HeartCore
    Enterprises, Inc.
	 	 	                                                                
	 	By:	
	 	Name:	Sumitaka
    Yamamoto
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	[_____________________]
	 	 	 
	 	By:	
	 	Name:	[_________________]
	 	 	 
	 	Address
    for notices:
	 	 
	 	
	 	
	 	
	 	
	 	

 

    	13Exhibit
10.11

 

HeartCore
Enterprises, Inc.

 

Indemnification
Agreement

 

Dated
as of [____________], 2021

 

This
Indemnification Agreement (the “Agreement”) dated as of the date first set forth above (the “Effective Date”)
is entered into by and between HeartCore Enterprises, Inc., a Delaware corporation (the “Company”) and [____________] (the
“Indemnitee”). The Company and Indemnitee may collective be referred to as the “Parties” and each individually
as a “Party”.

 

WHEREAS,
Indemnitee’s service to the Company substantially benefits the Company;

 

WHEREAS,
Individuals are reluctant to serve as directors or officers of corporations or in certain other capacities unless they are provided with
adequate protection through insurance or indemnification against the risks of claims and actions against them arising out of such service;

 

WHEREAS,
Indemnitee does not regard the protection currently provided by applicable law, the Company’s governing documents and any insurance
as adequate under the present circumstances, and Indemnitee may not be willing to serve as a director or officer without additional protection;

 

WHEREAS,
in order to induce Indemnitee to continue to provide services to the Company, it is reasonable, prudent and necessary for the Company
to contractually obligate itself to indemnify, and to advance expenses on behalf of, Indemnitee as permitted by applicable law; and

 

WHEREAS,
this Agreement is a supplement to and in furtherance of the indemnification provided in the Company’s Certificate of Incorporation
and Bylaws, and any resolutions adopted pursuant thereto, and this Agreement shall not be deemed a substitute therefor, nor shall this
Agreement be deemed to limit, diminish or abrogate any rights of Indemnitee thereunder;

 

NOW,
THEREFORE, in consideration of the promises and of the mutual covenants and agreements hereinafter set forth, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Indemnitee hereby agree as follows:

 

1.
Definitions.

 

(a)
A “Change in Control” shall be deemed to occur upon the earliest to occur after the Effective Date of any of the following
events:

 

(i)
Acquisition of Stock by Third Party. Any Person (as defined below) becomes the Beneficial Owner (as defined below), directly or
indirectly, of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s
then outstanding securities; provided, that any acquisition that occurs as a result of any transaction that has been approved by a majority
of the Company’s board of directors shall be excluded from the definition of Change in Control;

 

    	 

    	 

    

 

(ii)
Change in Board Composition. During any period of two consecutive years (not including any period prior to the execution of this
Agreement), individuals who at the beginning of such period constitute the Company’s board of directors, and any new directors
(other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in
Section 1(a)(i), Section 1(a)(iii) or Section 1(a)(iv)) whose election by the board of directors or nomination for election by the Company’s
stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning
of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a
majority of the members of the Company’s board of directors; provided, that changes in the composition of the Company’s board
of directors as a result of any transaction that has been approved by a majority of the Company’s board of directors shall be excluded
from the definition of Change in Control;

 

(iii)
Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger
or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than
50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation
and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

 

(iv)
Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the
sale or disposition by the Company of all or substantially all of the Company’s assets; or

 

(v)
Other Events. Any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended,
whether or not the Company is then subject to such reporting requirement.

 

(b)
“Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended;
provided, however, that “Person” shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under
an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company
in substantially the same proportions as their ownership of stock of the Company.

 

(c)
“Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under the Securities Exchange Act of 1934, as
amended; provided, however, that “Beneficial Owner” shall exclude any Person otherwise becoming a Beneficial Owner by reason
of (i) the stockholders of the Company approving a merger of the Company with another entity or (ii) the Company’s board of directors
approving a sale of securities by the Company to such Person.

 

(d)
“Corporate Status” describes the status of a person who is or was a director, trustee, general partner, managing member,
officer, employee, agent or fiduciary of the Company or any other Enterprise.

 

(e)
“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 and who meets the requirements of a “disinterested director” as set forth in the
DGCL.

 

(f)
“Enterprise” means the Company and any other corporation, partnership, limited liability company, joint venture, trust, employee
benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, trustee, general
partner, managing member, officer, employee, agent or fiduciary.

 

    	2

    	 

    

 

(g)
“Expenses” include all reasonable and actually incurred attorneys’ fees, retainers, court costs, transcript costs,
fees and costs of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding.
Expenses also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation
the premium, security for, and other costs relating to any cost bond, supersedeas bond or other appeal bond or their equivalent, and
(ii) for purposes of Section 12(d), Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of
Indemnitee’s rights under this Agreement or under any directors’ and officers’ liability insurance policies maintained
by the Company. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against
Indemnitee.

 

(h)
“DGCL” means the Delaware General Corporation Law.

 

(i)
“Independent Counsel” means a law firm, or a partner or member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter
material to either such Party (other than as Independent Counsel with respect to matters concerning Indemnitee under this Agreement,
or 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.

 

(j)
“Proceeding” means any threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing or proceeding, whether brought in the right of the Company or otherwise and
whether of a civil, criminal, administrative or investigative nature, including any appeal therefrom and including without limitation
any such Proceeding pending as of the Effective Date, in which Indemnitee was, is or will be involved as a party, a potential party,
a non-party witness or otherwise by reason of (i) the fact that Indemnitee is or was a director or officer of the Company, (ii) any action
taken by Indemnitee or any action or inaction on Indemnitee’s part while acting as a director or officer of the Company, or (iii)
the fact that he or she is or was serving at the request of the Company as a director, trustee, general partner, managing member, officer,
employee, agent or fiduciary of the Company or any other Enterprise, in each case whether or not serving in such capacity at the time
any liability or Expense is incurred for which indemnification or advancement of expenses can be provided under this Agreement.

 

(k)
Reference to “other enterprises” shall include employee benefit plans; references to “fines” shall include any
excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at the request of the Company”
shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by,
such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who
acted in good faith and in a manner he or she reasonably believed to be in the best interests of the participants and beneficiaries of
an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as
referred to in this Agreement.

 

    	3

    	 

    

 

2.
Indemnity in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section
2 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the
right of the Company to procure a judgment in its favor. Pursuant to this Section 2, Indemnitee shall be indemnified to the fullest extent
permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by
Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company and, with respect to
any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was unlawful.

 

3.
Indemnity in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with the provisions
of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of
the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted
by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with
such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed
to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 3 in respect
of any claim, issue or matter as to which Indemnitee shall have been adjudged by a court of competent jurisdiction to be liable to the
Company, unless and only to the extent that the or any court in which the Proceeding was brought shall determine upon application that,
despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled
to indemnification for such Expenses as such court shall deem proper.

 

4.
Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To the extent that Indemnitee is a party to or a participant
in and is successful (on the merits or otherwise) in defense of any Proceeding or any claim, issue or matter therein, the Company shall
indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
therewith. For purposes of this section, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without
prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

5.
Indemnification for Expenses of a Witness. To the extent that Indemnitee is, by reason of his or her Corporate Status, a witness
in any Proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified to the extent permitted by applicable law against
all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

 

6.
Additional Indemnification.

 

(a)
Notwithstanding any limitation in Section 2, Section 3 or Section 4, the Company shall indemnify Indemnitee to the fullest extent permitted
by applicable law if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding (including a Proceeding
by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred by Indemnitee or on his or her behalf in connection with the Proceeding or any claim, issue or matter
therein.

 

    	4

    	 

    

 

(b)
For purposes of Section 6(a), the meaning of the phrase “to the fullest extent permitted by applicable law” shall include,
but not be limited to:

 

(i)
the fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement, or
the corresponding provision of any amendment to or replacement of the DGCL; and

 

(ii)
the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the Effective Date that increase
the extent to which a corporation may indemnify its officers and directors.

 

7.
Exclusions. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any
indemnity in connection with any Proceeding (or any part of any Proceeding):

 

(a)
for which payment has actually been made to or on behalf of Indemnitee under any statute, insurance policy, indemnity provision, vote
or otherwise, except with respect to any excess beyond the amount paid;

 

(b)
for an accounting or disgorgement of profits pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar
provisions of federal, state or local statutory law or common law, if Indemnitee is held liable therefor (including pursuant to any settlement
arrangements);

 

(c)
for any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits
realized by Indemnitee from the sale of securities of the Company, as required in each case under the Securities Exchange Act of 1934,
as amended (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the
Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase
and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor (including
pursuant to any settlement arrangements);

 

(d)
initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its
directors, officers, employees, agents or other indemnitees, unless (i) the Company’s board of directors authorized the Proceeding
(or the relevant part of the Proceeding) prior to its initiation, (ii) the Company provides the indemnification, in its sole discretion,
pursuant to the powers vested in the Company under applicable law, (iii) otherwise authorized in Section 12(d) or (iv) otherwise required
by applicable law; or

 

(e)
if prohibited by applicable law.

 

8.
Advances of Expenses. The Company shall advance the Expenses incurred by Indemnitee in connection with any Proceeding prior to
its final disposition, and such advancement shall be made as soon as reasonably practicable, but in any event no later than 90 days,
after the receipt by the Company of a written statement or statements requesting such advances from time to time (which shall include
invoices received by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services, any
references to legal work performed or to expenditure made that would cause Indemnitee to waive any privilege accorded by applicable law
shall not be included with the invoice). Advances shall be unsecured and interest free and made without regard to Indemnitee’s
ability to repay such advances. Indemnitee hereby undertakes to repay any advance to the extent that it is ultimately determined that
Indemnitee is not entitled to be indemnified by the Company. This Section 8 shall not apply to the extent advancement is prohibited by
law and shall not apply to any Proceeding (or any part of any Proceeding) for which indemnity is not permitted under this Agreement,
but shall apply to any Proceeding (or any part of any Proceeding) referenced in Section 7(b) or Section 7(c) prior to a determination
that Indemnitee is not entitled to be indemnified by the Company.

 

    	5

    	 

    

 

9.
Procedures for Notification and Defense of Claim.

 

(a)
Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement
of Expenses as soon as reasonably practicable following the receipt by Indemnitee of notice thereof. The written notification to the
Company shall include, in reasonable detail, a description of the nature of the Proceeding and the facts underlying the Proceeding. The
failure by Indemnitee to notify the Company will not relieve the Company from any liability which it may have to Indemnitee hereunder
or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any
rights, except to the extent that such failure or delay materially prejudices the Company.

 

(b)
If, at the time of the receipt of a notice of a Proceeding pursuant to the terms hereof, the Company has directors’ and officers’
liability insurance in effect that may be applicable to the Proceeding, the Company shall give prompt notice of the commencement of the
Proceeding to the insurers in accordance with the procedures set forth in the applicable policies. The Company shall thereafter take
all commercially-reasonable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding
in accordance with the terms of such policies.

 

(c)
In the event the Company may be obligated to make any indemnity in connection with a Proceeding, the Company shall be entitled to assume
the defense of such Proceeding with counsel approved by Indemnitee, which approval shall not be unreasonably withheld, conditioned or
delayed, upon the 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 for any fees or
expenses of counsel subsequently incurred by Indemnitee with respect to the same Proceeding. Notwithstanding the Company’s assumption
of the defense of any such Proceeding, the Company shall be obligated to pay the fees and expenses of Indemnitee’s separate counsel
to the extent (i) the employment of separate counsel by Indemnitee is authorized by the Company, (ii) counsel for the Company or Indemnitee
shall have reasonably concluded that there is a conflict of interest between the Company and Indemnitee in the conduct of any such defense
such that Indemnitee needs to be separately represented, (iii) the Company is not financially or legally able to perform its indemnification
obligations or (iv) the Company shall not have retained, or shall not continue to retain, counsel to defend such Proceeding. The Company
shall have the right to conduct such defense as it sees fit in its sole discretion. Regardless of any provision in this Agreement, Indemnitee
shall have the right to employ counsel in any Proceeding at Indemnitee’s personal expense. The Company shall not be entitled, without
the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company.

 

(d)
Indemnitee shall give the Company such information and cooperation in connection with the Proceeding as may be reasonably appropriate.

 

(e)
The Company shall not be liable to indemnify Indemnitee for any settlement of any Proceeding (or any part thereof) without the Company’s
prior written consent, which shall not be unreasonably withheld, conditioned or delayed.

 

    	6

    	 

    

 

(f)
The Company shall not settle any Proceeding (or any part thereof) in a manner that imposes any penalty or liability on Indemnitee without
Indemnitee’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed.

 

10.
Procedures upon Application for Indemnification.

 

(a)
To obtain indemnification, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation
and information as is reasonably available to Indemnitee and as is reasonably necessary to determine whether and to what extent Indemnitee
is entitled to indemnification following the final disposition of the Proceeding. Any delay in providing the request will not relieve
the Company from its obligations under this Agreement, except to the extent such failure is prejudicial.

 

(b)
Upon written request by Indemnitee for indemnification pursuant to Section 10(a), a determination with respect to Indemnitee’s
entitlement thereto shall be made in the specific case (i) if a Change in Control shall have occurred, by Independent Counsel in a written
opinion to the Company’s board of directors, a copy of which shall be delivered to Indemnitee or (ii) if a Change in Control shall
not have occurred, (A) by a majority vote of two or more of the Disinterested Directors, even though less than a quorum of the Company’s
board of directors, (B) by a committee of two or more of the Disinterested Directors designated by a majority vote of the Disinterested
Directors, even though less than a quorum of the Company’s board of directors, (C) if there are less than two Disinterested Directors
or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Company’s board of directors,
a copy of which shall be delivered to Indemnitee or (D) if so directed by the Company’s board of directors, by the stockholders
of the Company. If it is determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten days
after such determination. Indemnitee shall cooperate with the person, persons or entity making the 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 that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably
necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) actually and reasonably incurred
by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company, to the extent
permitted by applicable law.

 

(c)
In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 10(b), the
Independent Counsel shall be selected as provided in this Section 10(c). If a Change in Control shall not have occurred, the Independent
Counsel shall be selected by the Company’s board of directors, and the Company shall give written notice to Indemnitee advising
him or her of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent Counsel
shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Company’s board of directors,
in which event the preceding 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 ten 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 1(i), 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 such written objection is so made and substantiated, the Independent Counsel so 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 the later of (i) submission by Indemnitee of a written request for indemnification pursuant to Section 10(a) and
(ii) the final disposition of the Proceeding, the Parties have not agreed upon an Independent Counsel, either the Company or Indemnitee
may petition 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 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 under Section 10(b). Upon the due commencement of any judicial proceeding or arbitration
pursuant to Section 12(a), the Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject
to the applicable standards of professional conduct then prevailing).

 

(d)
The Company agrees to pay the reasonable fees and expenses of any Independent Counsel.

 

    	7

    	 

    

 

11.
Presumptions and Effect of Certain Proceedings.

 

(a)
In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement, and
the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption.

 

(b)
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea
of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself create a
presumption that Indemnitee did not act in good faith and in a manner which he or 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
or her conduct was unlawful.

 

(c)
Neither the knowledge, actions nor failure to act of any other director, officer, agent or employee of the Enterprise shall be imputed
to Indemnitee for purposes of determining the right to indemnification under this Agreement.

 

12.
Remedies of Indemnitee.

 

(a)
Subject to Section 12(e), in the event that (i) a determination is made pursuant to Section 10 that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 or Section 12(d), (iii) no determination
of entitlement to indemnification shall have been made pursuant to Section 10 within 90 days after the later of the receipt by the Company
of the request for indemnification or the final disposition of the Proceeding, (iv) payment of indemnification pursuant to this Agreement
is not made (A) within ten days after a determination has been made that Indemnitee is entitled to indemnification or (B) with respect
to indemnification pursuant to Section 4, Section 5 and Section 12(d), within 30 days after receipt by the Company of a written request
therefor, or (v) the Company or any other person or entity takes or threatens to take any action to declare this Agreement void or unenforceable,
or institutes any litigation or other action or proceeding designed to deny, or to recover from, Indemnitee the benefits provided or
intended to be provided to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of competent jurisdiction
of his or her entitlement to such indemnification or advancement of Expenses. Alternatively, Indemnitee, at his or her option, may seek
an award in arbitration with respect to his or her entitlement to such indemnification or advancement of Expenses, to be conducted by
a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such
proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right
to commence such proceeding pursuant to this Section 12(a); provided, however, that the foregoing clause shall not apply in respect
of a proceeding brought by Indemnitee to enforce his or her rights under Section 4. The Company shall not oppose Indemnitee’s right
to seek any such adjudication or award in arbitration in accordance with this Agreement.

 

    	8

    	 

    

 

(b)
Neither (i) the failure of the Company, its board of directors, any committee or subgroup of the board of directors, Independent Counsel
or stockholders to have made a determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee has
met the applicable standard of conduct, nor (ii) an actual determination by the Company, its board of directors, any committee or subgroup
of the board of directors, Independent Counsel or stockholders that Indemnitee has not met the applicable standard of conduct, shall
create a presumption that Indemnitee has or has not met the applicable standard of conduct. In the event that a determination shall have
been made pursuant to Section 10 that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced
pursuant to this Section 12 shall be conducted in all respects as a de novo trial, or arbitration, on the merits, and Indemnitee
shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this
Section 12, the Company shall, to the fullest extent not prohibited by law, have the burden of proving Indemnitee is not entitled to
indemnification or advancement of Expenses, as the case may be.

 

(c)
To the fullest extent not prohibited by law, the Company shall be precluded from asserting in any judicial proceeding or arbitration
commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and
shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement. If
a determination shall have been made pursuant to Section 10 of this Agreement that Indemnitee is entitled to indemnification, the Company
shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent (i) a misstatement
by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statements not materially misleading,
in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

(d)
To the extent not prohibited by law, the Company shall indemnify Indemnitee against all Expenses that are incurred by Indemnitee in connection
with any action for indemnification or advancement of Expenses from the Company under this Agreement or under any directors’ and
officers’ liability insurance policies maintained by the Company to the extent Indemnitee is successful in such action, and, if
requested by Indemnitee, shall (as soon as reasonably practicable, but in any event no later than 90 days, after receipt by the Company
of a written request therefor) advance such Expenses to Indemnitee, subject to the provisions of Section 8.

 

(e)
Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification shall be required to
be made prior to the final disposition of the Proceeding.

 

    	9

    	 

    

 

13.
Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is
unavailable to Indemnitee, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amounts incurred by Indemnitee, whether
for Expenses, judgments, fines or amounts paid or to be paid in settlement, in connection with any claim relating to an indemnifiable
event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding
in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the events and transactions giving
rise to such Proceeding; and (ii) the relative fault of Indemnitee and the Company (and its other directors, officers, employees and
agents) in connection with such events and transactions.

 

14.
Non-exclusivity. The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not
be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Company’s Certificate
of Incorporation or Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. To the extent that a change
in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded
currently under the Company’s Certificate of Incorporation and Bylaws and this Agreement, it is the intent of the Parties that
Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change, subject to the restrictions expressly set forth
herein or therein. Except as expressly set forth herein, no right or remedy herein conferred is intended to be exclusive of any other
right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder
or now or hereafter existing at law or in equity or otherwise. Except as expressly set forth herein, the assertion or employment of any
right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

15.
No Duplication of Payments. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable
hereunder (or for which advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received payment
for such amounts under any insurance policy, contract, agreement or otherwise.

 

16.
Insurance. To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors,
trustees, general partners, managing members, officers, employees, agents or fiduciaries of the Company or any other Enterprise, Indemnitee
shall be covered by such policy or policies to the same extent as the most favorably-insured persons under such policy or policies in
a comparable position.

 

17.
Subrogation. In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to
all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights,
including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

18.
Services to the Company. Indemnitee agrees to serve as a director or officer of the Company or, at the request of the Company,
as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of another Enterprise, for so long as
Indemnitee is duly elected or appointed or until Indemnitee tenders his or her resignation or is removed from such position. Indemnitee
may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by
operation of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in such position.
This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee.
Indemnitee specifically acknowledges that any employment with the Company (or any of its subsidiaries or any Enterprise) is at will,
and Indemnitee may be discharged at any time for any reason, with or without cause, with or without notice, except as may be otherwise
expressly provided in any executed, written employment contract between Indemnitee and the Company (or any of its subsidiaries or any
Enterprise), any existing formal severance policies adopted by the Company’s board of directors or, with respect to service as
a director or officer of the Company, the Company’s Certificate of Incorporation or Bylaws or the DGCL. No such document shall
be subject to any oral modification thereof.

 

    	10

    	 

    

  

19.
Duration. This Agreement shall continue until and terminate upon the later of (a) ten years after the date that Indemnitee shall
have ceased to serve as a director or officer of the Company or as a director, trustee, general partner, managing member, officer, employee,
agent or fiduciary of any other Enterprise, as applicable; or (b) one year after the final termination of any Proceeding, including any
appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of
any proceeding commenced by Indemnitee pursuant to Section 12 relating thereto.

 

20.
Successors. This Agreement shall be binding upon the Company and its successors and assigns, including any direct or indirect
successor, by purchase, merger, consolidation or otherwise, to all or substantially all of the business or assets of the Company, and
shall inure to the benefit of Indemnitee and Indemnitee’s heirs, executors and administrators. The Company shall require and cause
any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all of the business
or assets of the Company, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform if no such succession had taken place. The Company shall require and cause
any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all of the business
or assets of the Company, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform if no such succession had taken place. Other than as set forth herein, no Party
shall have any power or any right to assign or transfer, in whole or in part, this Agreement, or any of its rights or any of its obligations
hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Agreement or the transactions contemplated
herein, or to pursue any claim for any breach or default of this Agreement, or any right arising from the purported assignor’s
due performance of its obligations hereunder, without the prior written consent of the other Party and any such purported assignment
in contravention of the provisions herein shall be null and void and of no force or effect.

 

21.
Severability; Limitation. 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. All obligations of the Company hereunder shall be subject to any limitations in,
and any requirements of, the DGCL as it may be in place at the applicable time. The Company’s inability, pursuant to court order
or other applicable law, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. If any provision
or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (i) the validity, legality
and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any section of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall
not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (ii) such provision
or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent
of the Parties; and (iii) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion
of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid,
illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

 

    	11

    	 

    

 

22.
Enforcement. The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed
on it hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as a director or officer of the Company.

 

23.
Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof
and supersedes all prior agreements and understandings, oral, written and implied, between the Parties with respect to the subject matter
hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Company’s Certificate
of Incorporation and Bylaws and applicable law.

 

24.
Modification and Waiver. No supplement, modification or amendment to this Agreement shall be binding unless executed in writing
by the Parties. No amendment, alteration or repeal of this Agreement shall adversely affect any right of Indemnitee under this Agreement
in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or repeal.
No waiver of any of the provisions of this Agreement shall constitute or be deemed a waiver of any other provision of this Agreement
nor shall any waiver constitute a continuing waiver.

 

25.
Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered
or certified mail, postage prepaid, sent by facsimile or electronic mail or otherwise delivered by hand, messenger or courier service
addressed:

 

(a)
if to Indemnitee, to Indemnitee’s address, facsimile number or electronic mail address as shown in the Company’s records,
as may be updated in accordance with the provisions hereof; or if to the Company, to:

 

HeartCore
Enterprises, Inc.

Attn:
Sumitaka Yamamoto

848
Jordan Ave. Apt. G

Los
Altos CA 94022

Email:
kanno@heartcore.co.jp

 

(b)
Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given (i) if
delivered by hand, messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service, freight
prepaid, specifying next-business-day delivery, one business day after deposit with the courier), (ii) if sent via mail, at the earlier
of its receipt or five days after the same has been deposited in a regularly-maintained receptacle for the deposit of the United States
mail, addressed and mailed as aforesaid, or (iii) if sent via facsimile, upon confirmation of facsimile transfer or, if sent via electronic
mail, upon confirmation of delivery when directed to the relevant electronic mail address, if sent during normal business hours of the
recipient, or if not sent during normal business hours of the recipient, then on the recipient’s next business day.

 

    	12

    	 

    

  

26.
Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the Parties shall be governed by, and
construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with
respect to any arbitration commenced by Indemnitee pursuant to Section 12(a), the Company and Indemnitee hereby irrevocably and unconditionally
(i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the courts of the
State of Delaware or the United States District Courts located in the State of Delaware (the “Selected Courts”), and not
in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the
exclusive jurisdiction of the Selected Courts for purposes of any action or proceeding arising out of or in connection with this Agreement,
(iii) appoint, to the extent such Party is not otherwise subject to service of process in the State of Delaware, the Company’s
registered agent, as registered with the Delaware Secretary of State, as its agent in the State of Delaware as such Party’s agent
for acceptance of legal process in connection with any such action or proceeding against such Party with the same legal force and validity
as if served upon such Party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action
or proceeding in the Selected Courts, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding
brought in the Selected Courts has been brought in an improper or inconvenient forum.

 

27.
Captions. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction thereof.

 

28.
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be
an original but all of which together shall constitute one and the same Agreement. This Agreement may also be executed and delivered
by facsimile signature and in counterparts, each of which shall for all purposes be deemed to be an original but all of which together
shall constitute one and the same Agreement. Only one such counterpart signed by the Party against whom enforceability is sought needs
to be produced to evidence the existence of this Agreement.

 

[Signatures
appear on following page]

 

    	13

    	 

    

 

In
witness whereof, the Parties have signed this Agreement as of the Effective Date.

 

	 	HeartCore
    Enterprises, Inc.
	 	 	 
	 	By:
    	 
	 	Name:
    	Sumitaka
    Yamamoto
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	Indemnitee:
    [________________]
	 	 	 
	 	By:
    	 
	 	Name:	[________________]

 

    	14

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