Document:

Exhibit 4.1

 

performance
pledgeS 

 

Tiewei Song, the Chief Executive
Officer, and Xiaoping Wang, the Chief Operating Officer, of BIMI International Medical Inc.,
a company organized under the laws of the state of Delaware, the U.S.A. (the “Company”), for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, hereby make the following performance pledges to the Company:

 

The Company has continuously
provided financial support to all its Chinese subsidiaries, including a recent capital contribution of $2 Million to Chongqing Bimai Pharmaceutical
Technology Group Co., Ltd. (“Chongqing”), through the Company’s direct subsidiary, Bimai Pharmaceutical (Chongqing)
Co., Ltd., which is Chongqing’s sole shareholder, to be used as working capital by Chongqing and its subsidiaries. To assist the
Company in achieving sustainable operations and generating returns for its shareholders, we, as the executives responsible for managing
the operations of all the Company’s Chinese subsidiaries, pledge to use our best efforts to help each Chinese subsidiary increase
its revenue and achieve profitable operations.

 

Specifically, we pledge to
ensure that the aggregate amount of the available cash (excluding cash received as loans or capital infusions or cash held in restricted
accounts or otherwise unavailable for unrestricted use for any reason) of Chongqing and its subsidiaries, as of December 31, 2023 held
in bank accounts of financial banking institutions, as audited by the Company’s independent auditors will be not less than $2 million
(the “Performance Target”).

 

Furthermore,

 

		(1)	Tiewei Song agrees that:

 

My cash salary for the period
from October 1, 2021 to September 30, 2022 in the amount of $1 million will continue to accrue but not be paid, and if the Performance
Target is not met by December 31, 2023, I will forfeit such accrued and unpaid salary; and

 

		(2)	Xiaoping Wang agrees that:

 

Until December 31, 2023, all
my salary, consisting of both cash and stock, will continue to accrue but not be paid, and if the Performance Target is not met, I will
forfeit all my accrued and unpaid salary through the end of 2023 and will return to the Company the 50,000 shares of the Company’s
common stock I previously received as salary.

 

     

     

    

 

	By:	/s/ Tiewei Song	 
	Name: 	Tiewei Song	 
	Date:	December 23, 2022	 
	 	 	 
	By:	/s/ Xiaoping Wang	 
	Name:	Xiaoping Wang	 
	Date:	December 23, 2022Document

Exhibit 10.1

2022-1 AMENDMENT TO 

TRICO BANCSHARES SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

AND

PARTICIPATION AGREEMENT

WHERAS, TriCo Bancshares (the “Company”) maintains the TriCo Bancshares Supplemental Executive Retirement Plan (the “SERP”); 

WHEREAS, Richard P. Smith (the “Executive”) became a participant in the SERP pursuant to a participation agreement dated December 14, 1993 (the “Participation Agreement”);

WHEREAS, Section 8.2 of the SERP provides that the Company’s Board of Directors (the “Board”) may amend the SERP from time to time provided that such an amendment may not reduce a participant’s accrued benefit or change the vesting schedule without the participant’s consent; and

WHEREAS, the Board has determined to amend the SERP with respect to the Executive (and only the Executive) so as to help rationalize the balance between accrued SERP benefits and other compensation by freezing the Executive’s SERP benefit as between two life annuity benefit forms that as of the effective date hereof are actuarially equivalent applying reasonable actuarial methods and assumptions.

NOW, THERFORE, the SERP and the Participation Agreement are hereby amended with respect to the participation of Richard P. Smith as follows, effective December 27, 2022:

1.Section 4.1 (“Normal Retirement Benefit”) of the SERP is amended, solely with respect to the Executive, by deleting subsection (a) thereof and replacing it in its entirety with the following new language:

(a)  Notwithstanding any provision of the Plan to the contrary, the Supplemental Retirement Benefit of Participant Richard P. Smith shall, effective December 27, 2022, be frozen (the “Benefit Freeze Effective Date”); therefore, commencing on the first day of the month coinciding with or following Mr. Smith’s Normal Retirement Date, the Employer shall:

 (i) if at the time of benefit commencement Mr. Smith remains married to his spouse as of the Benefit Freeze Effective Date, pay to Mr. Smith and such spouse a 100% joint & survivor annuity in a monthly Supplemental Retirement Benefit amount equal to $65,416.67 (the equivalent of $785,000 annually), or 

(ii) if at the time of benefit commencement Mr. Smith is no longer married to his spouse as of the Benefit Freeze Effective Date (whether due to death or divorce), pay to Mr. Smith a single life annuity in a monthly Supplemental Retirement Benefit equal to $81,250 (the equivalent of $975,000 annually). 

2. The SERP is amended, solely with respect to the Executive, by deleting Section 4.6 (“Form of Benefit Payment”) and replacing it in its entirety with the following new language:

4.6       Reserved. 

3.  The provisions of the SERP shall remain applicable except as expressly provided herein.

[SIGNATURE PAGE FOLLOWS]

Exhibit 10.1

IN WITNESS WHEREOF, the Company has caused this 2022-1 Amendment to be executed by its duly authorized officer on this 27th day of December, 2022.

TRICO BANCSHARES

By:   /s/ Cory W. Giese         
Name: Cory W. Giese
Title: Lead Independent Director                                                            

Acknowledged and Agreed:

By:  /s/ Richard P. Smith  
 Richard P. SmithDocument

Exhibit 10.2

2022-2 AMENDMENT TO 

TRICO BANCSHARES SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

AND

PARTICIPATION AGREEMENT

WHERAS, TriCo Bancshares (the “Company”) maintains the TriCo Bancshares Supplemental Executive Retirement Plan (the “SERP”); 

WHEREAS, Daniel K. Bailey (the “Executive”) became a participant in the SERP pursuant to a participation agreement dated May 21, 2007 (the “Participation Agreement”);

WHEREAS, Section 8.2 of the SERP provides that the Company’s Board of Directors (the “Board”) may amend the SERP from time to time provided that such an amendment may not reduce a participant’s accrued benefit or change the vesting schedule without the participant’s consent; and

WHEREAS, the Board has determined to amend the SERP with respect to the Executive (and only the Executive) so as to help rationalize the balance between accrued SERP benefits and other compensation by freezing the Executive’s SERP benefit as between two life annuity benefit forms that as of the effective date hereof are actuarially equivalent applying reasonable actuarial methods and assumptions.

NOW, THERFORE, the SERP and the Participation Agreement are hereby amended with respect to the participation of Daniel K. Bailey as follows, effective December 27, 2022:

1.Section 4.1 (“Normal Retirement Benefit”) of the SERP is amended, solely with respect to the Executive, by deleting subsection (a) thereof and replacing it in its entirety with the following new language:

(a)  Notwithstanding any provision of the Plan to the contrary, the Supplemental Retirement Benefit of Participant Daniel K. Bailey shall, effective December 27, 2022, be frozen (the “Benefit Freeze Effective Date”); therefore, commencing on the first day of the month coinciding with or following Mr. Bailey’s Normal Retirement Date, the Employer shall:

 (i) if at the time of benefit commencement Mr. Bailey remains married to his spouse as of the Benefit Freeze Effective Date, pay to Mr. Bailey and such spouse a 100% joint & survivor annuity in a monthly Supplemental Retirement Benefit amount equal to $18,475 (the equivalent of $221,700 annually), or 

(ii) if at the time of benefit commencement Mr. Bailey is no longer married to his spouse as of the Benefit Freeze Effective Date (whether due to death or divorce), pay to Mr. Bailey a single life annuity in a monthly Supplemental Retirement Benefit equal to $21,250 (the equivalent of $255,000 annually). 

2. The SERP is amended, solely with respect to the Executive, by deleting Section 4.6 (“Form of Benefit Payment”) and replacing it in its entirety with the following new language:

4.6       Reserved. 

3.  The provisions of the SERP shall remain applicable except as expressly provided herein.

[SIGNATURE PAGE FOLLOWS]

Exhibit 10.2

IN WITNESS WHEREOF, the Company has caused this 2022-2 Amendment to be executed by its duly authorized officer on this 27th day of December, 2022.

TRICO BANCSHARES

By:   /s/ Cory W. Giese         
Name: Cory W. Giese
Title: Lead Independent Director                                                            

Acknowledged and Agreed:

By:  /s/Daniel K. Bailey  
Daniel K. BaileyDocument

Exhibit 10.3

2022-3 AMENDMENT TO 

TRICO BANCSHARES SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

AND

PARTICIPATION AGREEMENT

WHERAS, TriCo Bancshares (the “Company”) maintains the TriCo Bancshares Supplemental Executive Retirement Plan (the “SERP”); 

WHEREAS, Craig B. Carney (the “Executive”) became a participant in the SERP pursuant to a participation agreement dated December 12, 1999 (the “Participation Agreement”);

WHEREAS, Section 8.2 of the SERP provides that the Company’s Board of Directors (the “Board”) may amend the SERP from time to time provided that such an amendment may not reduce a participant’s accrued benefit or change the vesting schedule without the participant’s consent; and

WHEREAS, the Board has determined to amend the SERP with respect to the Executive (and only the Executive) so as to help rationalize the balance between accrued SERP benefits and other compensation by freezing the Executive’s SERP benefit as between two life annuity benefit forms that as of the effective date hereof are actuarially equivalent applying reasonable actuarial methods and assumptions.

NOW, THERFORE, the SERP and the Participation Agreement are hereby amended with respect to the participation of Craig B. Carney as follows, effective December 27, 2022:

1.Section 4.1 (“Normal Retirement Benefit”) of the SERP is amended, solely with respect to the Executive, by deleting subsection (a) thereof and replacing it in its entirety with the following new language:

(a)  Notwithstanding any provision of the Plan to the contrary, the Supplemental Retirement Benefit of Participant Craig B. Carney shall, effective December 27, 2022, be frozen (the “Benefit Freeze Effective Date”); therefore, commencing on the first day of the month coinciding with or following Mr. Carney’s Normal Retirement Date, the Employer shall:

 (i) if at the time of benefit commencement Mr. Carney remains married to his spouse as of the Benefit Freeze Effective Date, pay to Mr. Carney and such spouse a 100% joint & survivor annuity in a monthly Supplemental Retirement Benefit amount equal to $22,675 (the equivalent of $272,100 annually), or 

(ii) if at the time of benefit commencement Mr. Carney is no longer married to his spouse as of the Benefit Freeze Effective Date (whether due to death or divorce), pay to Mr. Carney a single life annuity in a monthly Supplemental Retirement Benefit equal to $26,666.67 (the equivalent of $320,000 annually). 

2. The SERP is amended, solely with respect to the Executive, by deleting Section 4.6 (“Form of Benefit Payment”) and replacing it in its entirety with the following new language:

4.6       Reserved. 

3.  The provisions of the SERP shall remain applicable except as expressly provided herein.

[SIGNATURE PAGE FOLLOWS]

Exhibit 10.3

IN WITNESS WHEREOF, the Company has caused this 2022-3 Amendment to be executed by its duly authorized officer on this 27th day of December, 2022.

TRICO BANCSHARES

By:   /s/ Cory W. Giese       
Name: Cory W. Giese
Title: Lead Independent Director                                                            

Acknowledged and Agreed:

By:  /s/Craig B. Carney
Craig B. Carney

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