Document:

Exhibit 10.3

 

PLACEMENT AGENCY AGREEMENT

 

FT Global Capital, Inc.

5 Concourse Parkway, Suite
3000

Atlanta, GA, 30328

 

February 8, 2021

 

Ladies and Gentlemen:

 

This letter (this “Agreement”)
constitutes the agreement between CBAK Energy Technology, Inc. (the “Company”) and FT Global Capital, Inc. (“FT
Global”) pursuant to which FT Global shall serve as the placement agent (the “Placement Agent”) (the
“Services”), for the Company, on a reasonable “best efforts” basis, in connection with the proposed
offer and placement (the “Offering”) by the Company of its Securities (as defined Section 3 of this Agreement).
The Company expressly acknowledges and agrees that FT Global’s obligations hereunder are on a reasonable “best efforts”
basis only and that the execution of this Agreement does not constitute a commitment by FT Global to purchase the Securities and
does not ensure the successful placement of the Securities or any portion thereof or the success of FT Global placing the Securities.

 

		1.	Appointment of FT Global as Exclusive Placement Agent. 

 

On the basis of the
representations, warranties, covenants and agreements of the Company herein contained, and subject to all the terms and conditions
of this Agreement, the Company hereby appoints the Placement Agent as its exclusive placement agent in connection with a distribution
of its Securities to be offered and sold by the Company pursuant to a registration statement filed under the Securities Act of
1933, as amended (the “Securities Act”) on Form S-3 (File No. 333-250893), and FT Global agrees to act as the
Company’s exclusive Placement Agent. Pursuant to this appointment, the Placement Agent will solicit offers for the purchase
of or attempt to place all or part of the Securities of the Company in the proposed Offering. Until the final closing or earlier
upon termination of this Agreement pursuant to Section 5 hereof, the Company shall not, without the prior written consent of the
Placement Agent, solicit or accept offers to purchase the Securities other than through the Placement Agent. The Company acknowledges
that the Placement Agent will act as an agent of the Company and use its reasonable “best efforts” to solicit offers
to purchase the Securities from the Company on the terms, and subject to the conditions, set forth in the Prospectus (as defined
below). The Placement Agent shall use commercially reasonable efforts to assist the Company in obtaining performance by each Purchaser
whose offer to purchase Securities has been solicited by the Placement Agent, but the Placement Agent shall not, except as otherwise
provided in this Agreement, be obligated to disclose the identity of any potential purchaser or have any liability to the Company
in the event any such purchase is not consummated for any reason. Under no circumstances will the Placement Agent be obligated
to underwrite or purchase any Securities for its own account and, in soliciting purchases of the Securities, the Placement Agent
shall act solely as an agent of the Company. The Services provided pursuant to this Agreement shall be on an “agency”
basis and not on a “principal” basis.

 

The Placement Agent
will solicit offers for the purchase of the Securities in the Offering at such times and in such amounts as the Placement Agent
deems advisable. The Company shall have the sole right to accept offers to purchase Securities and may reject any such offer, in
whole or in part. The Company and Placement Agent shall negotiate the timing and terms of the Offering and acknowledge that the
Offering and the provision of Placement Agent services related to the Offering are subject to market conditions and the receipt
of all required related clearances and approvals.

 

		2.	Fees; Expenses; Other Arrangements.

 

A. Placement
Agent’s Fee. As compensation for services rendered, the Company shall pay to the Placement Agent in cash by wire transfer
in immediately available funds to an account or accounts designated by the Placement Agent an amount (the “Placement Fee”)
equal to six percent (6.0%) of the aggregate gross proceeds received by the Company from the sale of the Securities, at the closing
(the “Closing” and the date on which the Closing occurs, the “Closing Date”); and the Company
shall issue to the Placement Agent or its designees at the Closing three-year warrants to purchase such number of Shares (as defined
in Section 3) equal to 5.0% of the Shares sold in this Offering (or underlying any convertible Securities sold in the Offering,
which shall be calculated based on the maximum number of Shares that may be issued to investors in the Offering, but shall exclude
any Shares issuable upon exercise of the Warrants issued in the Offering) at an exercise price of $9.204, which warrants shall
be exercisable at any time beginning 180 days from the date of the Offering (the “Placement Agent Warrant” and
together with the shares of Common Stock underlying the Placement Agent Warrant, the “Placement Agent Securities”).
The Placement Agent may deduct from the net proceeds of the Offering payable to the Company on the Closing Date the Placement Fee
set forth herein to be paid by the Company to the Placement Agent.

 

     

     

    

 

B. Offering
Expenses. The Company will be responsible for and will pay all expenses relating to the Offering, including, without limitation,
(a) all filing fees and expenses relating to the registration of the Securities with the Commission; (b) all FINRA Public Offering
filing fees; (c) all fees and expenses relating to the listing of the Shares on the NASDAQ Stock Market; (d) the costs of all
mailing and printing of the Offering documents; (e) transfer and/or stamp taxes, if any, payable upon the transfer of Securities
from the Company to Investors; (f) the fees and expenses of the Company’s accountants; (g) travel expenses and diligence
expenses not to exceed $30,000; and (h) legal fees of FT Global’s counsel not to exceed $50,000. The Placement Agent may
deduct from the net proceeds of the Offering payable to the Company on the Closing Date the expenses set forth herein to be paid
by the Company to the Placement Agent, provided, however, that in the event that the Offering is terminated, the Company agrees
to reimburse the Placement Agent to the extent required by Section 5 hereof.

 

C. Tail
Financing. The Placement Agent shall be entitled to fees per Section 2.A. of this Agreement with respect to any public or private
offering or other financing or capital-raising transaction of any kind (“Tail Financing”) to the extent that
such Tail Financing is provided to the Company by any investors that the Placement Agent has contacted on behalf of the Company
or investors that the Placement Agent had “wall-crossed” in connection with this Offering (or any entity under common
management or having a common investment advisor), if such Tail Financing is consummated at any time within the 12-month period
following the expiration of the Engagement Letter (as defined herein) (the “Tail Period”).

 

		3.	Description of the Offering. 

 

The Securities to be
offered directly to various investors (each, an “Investor” or “Purchaser” and, collectively,
the “Investors” or the “Purchasers”) pursuant to the Securities Purchase Agreement dated
on or about the date hereof between the Company and the Investors (the “Securities Purchase Agreement”) shall
consist of shares (the “Shares”) of the Company’s common stock (“Common Stock”) and
certain warrants to purchase Common Stock (the “Warrants,” and collectively with the Shares, the “Securities”).
The purchase price for one Share and accompanying Warrants shall be $[7.83] per unit of securities (the “Purchase Price”).
If the Company shall default in its obligations to deliver Securities to a Purchaser whose offer it has accepted and who has tendered
payment, the Company shall indemnify and hold the Placement Agent harmless against any loss, claim, damage or expense arising from
or as a result of such default by the Company under this Agreement.

 

		4.	Delivery and Payment; Closing.

 

Settlement of the Securities
purchased by an Investor shall be made as set forth in the Securities Purchase Agreement. On the Closing Date, the Shares to which
the Closing relates shall be delivered through such means as the parties to the Securities Purchase Agreement may hereafter agree.
The Securities shall be registered in such name or names and in such authorized denominations as set forth in the Securities Purchase
Agreement. The term “Business Day” means any day other than a Saturday, a Sunday or a legal holiday or a day on which
banking institutions are authorized or obligated by law to close in New York, New York.

 

		5.	Term and Termination of Agreement. 

 

The term of this Agreement
will commence upon the execution of this Agreement and will terminate on the earlier of the closing of this Offering or 30 days
after the date hereof. Notwithstanding anything to the contrary contained herein, any provision in this Agreement concerning or
relating to confidentiality, indemnification, contribution, advancement, the Company’s representations and warranties and
the Company’s obligations to pay fees and reimburse expenses will survive any expiration or termination of this Agreement.
If any condition specified in Section 8 is not satisfied when and as required to be satisfied, this Agreement may be terminated
by the Placement Agent by notice to the Company at any time on or prior to a Closing Date, which termination shall be without liability
on the part of any party to any other party, except that those portions of this Agreement specified in Section 19 shall at all
times be effective and shall survive such termination.

 

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		6.	Permitted Acts. 

 

Nothing in this Agreement
shall be construed to limit the ability of the Placement Agent, its officers, directors, employees, agents, associated persons
and any individual or entity “controlling,” controlled by,” or “under common control” with the Placement
Agent (as those terms are defined in Rule 405 under the Securities Act) to conduct its business including without limitation the
ability to pursue, investigate, analyze, invest in, or engage in investment banking, financial advisory or any other business relationship
with any individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

		7.	Representations, Warranties and Covenants of the Company.

 

As of the date and
time of the execution of this Agreement, the Closing Date and the Initial Sale Time (as defined herein), the Company (i) makes
such representations and warranties to the Placement Agent as the Company makes to the Investors pursuant to the Securities Purchase
Agreement, and (ii) further represents, warrants and covenants to the Placement Agent, other than as disclosed in any of its filings
with the Securities and Exchange Commission (the “Commission”), that:

 

A. Registration
Matters.

 

i. The
Company has filed with the Commission a registration statement on Form S-3 (File No. 333-250893) including a related prospectus,
for the registration of certain securities (the “Shelf Securities”), including the Shares, Warrants, and Common
Stock underlying the Warrants and the Placement Agent Securities, under the Securities Act and the rules and regulations thereunder
(the “Securities Act Regulations”). The registration statement has been declared effective under the Securities
Act by the Commission. The “Registration Statement,” as of any time, means such registration statement as amended
by any post-effective amendments thereto to such time, including the exhibits and any schedules thereto at such time, the documents
incorporated or deemed to be incorporated by reference therein at such time pursuant to Form S-3 under the Securities Act and the
documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430A (“Rule 430A”) or Rule
430B under the Securities Act Regulations (“Rule 430B”); provided, however, that the “Registration Statement”
without reference to a time means such registration statement as amended by any post-effective amendments thereto as of the time
of the first contract of sale for the Securities, which time shall be considered the “new effective date” of such registration
statement with respect to the Securities within the meaning of paragraph (f)(2) of Rule 430B, including the exhibits and schedules
thereto as of such time, the documents incorporated or deemed incorporated by reference therein at such time pursuant to Form S-3
under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430A or Rule
430B. Any registration statement filed pursuant to Rule 462(b) of the Securities Act Regulations is hereinafter called the “Rule
462(b) Registration Statement,” and after such filing the term “Registration Statement” shall include the
Rule 462(b) Registration Statement. The prospectus covering the Shelf Securities in the form first used to confirm sales of the
Securities (or in the form first made available to the Placement Agent by the Company to meet requests of purchasers pursuant to
Rule 173 under the Securities Act) is hereinafter referred to as the “Base Prospectus.” The Base Prospectus,
as supplemented by the prospectus supplement specifically related to the Securities in the form first used to confirm sales of
the Securities (or in the form first made available to the Placement Agent by the Company to meet requests of purchasers pursuant
to Rule 173 under the Securities Act), is hereinafter referred to, collectively, as the “Prospectus,” and the
term “Preliminary Prospectus” means any preliminary form of the Prospectus, including any preliminary prospectus
supplement specifically related to the Securities filed with the Commission by the Company with the consent of the Placement Agent.

 

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ii. All
references in this Agreement to financial statements and schedules and other information which is “contained,” “included”
or “stated” (or other references of like import) in the Registration Statement, any Preliminary Prospectus or the Prospectus
shall be deemed to include all such financial statements and schedules and other information incorporated or deemed incorporated
by reference in the Registration Statement, such Preliminary Prospectus or the Prospectus, as the case may be, prior to the execution
and delivery of this Agreement; and all references in this Agreement to amendments or supplements to the Registration Statement,
any Preliminary Prospectus or the Prospectus shall be deemed to include the filing of any document under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), and the rules and regulations thereunder (the “Exchange
Act Regulations”), incorporated or deemed to be incorporated by reference in the Registration Statement, such Preliminary
Prospectus or the Prospectus, as the case may be, at or after the execution and delivery of this Agreement.

 

iii. The
term “Disclosure Package” means (i) the Preliminary Prospectus, if any, as most recently amended or supplemented
immediately prior to the Initial Sale Time (as defined herein), and (ii) the Issuer Free Writing Prospectuses (as defined below),
if any, identified in Schedule I hereto.

 

iv. The
term “Issuer Free Writing Prospectus” means any issuer free writing prospectus, as defined in Rule 433 of the
Securities Act Regulations. The term “Free Writing Prospectus” means any free writing prospectus, as defined
in Rule 405 of the Securities Act Regulations.

 

v. Any
Preliminary Prospectus when filed with the Commission, and the Registration Statement as of each effective date and as of the date
hereof, complied or will comply, and the Prospectus and any further amendments or supplements to the Registration Statement, any
Preliminary Prospectus or the Prospectus will, when they become effective or are filed with the Commission, as the case may be,
comply, in all material respects, with the requirements of the Securities Act and the Securities Act Regulations; and the documents
incorporated by reference in the Registration Statement, any Preliminary Prospectus or the Prospectus complied, and any further
documents so incorporated will comply, when filed with the Commission, in all material respects to the requirements of the Exchange
Act and Exchange Act Regulations.

 

vi. The
issuance by the Company of the Securities has been registered under the Securities Act. The Securities will be issued pursuant
to the Registration Statement and each of the Securities will be freely transferable and freely tradable by each of the Investors
without restriction, unless otherwise restricted by applicable law or regulation. The Company is eligible to use Form S-3 under
the Securities Act and it meets the transaction requirements as set forth in General Instruction I.B.1 of Form S-3.

 

B. Stock
Exchange Listing. The Common Stock is approved for listing on the NASDAQ Global Market (the “Exchange”)
and the Company has taken no action designed to, or likely to have the effect of, delisting the shares of Common Stock from the
Exchange, nor has the Company received any notification that the Exchange is contemplating terminating such listing.

 

C. No
Stop Orders, etc. Neither the Commission nor, to the Company’s knowledge, any state regulatory authority has issued any
order preventing or suspending the use of the Registration Statement, any Preliminary Prospectus or the Prospectus or has instituted
or, to the Company’s knowledge, threatened to institute, any proceedings with respect to such an order. The Company has complied
with each request (if any) from the Commission for additional information.

 

D. Disclosures
in Registration Statement.

 

		i.	Compliance with Securities Act and 10b-5 Representation. 

 

(a) Each
of the Registration Statement and any post-effective amendment thereto, at the time it became effective, complied in all material
respects with the requirements of the Securities Act and the Securities Act Regulations. The Preliminary Prospectus and the Prospectus,
at the time each was or will be filed with the Commission, complied or will comply in all material respects with the requirements
of the Securities Act and the Securities Act Regulations. The Preliminary Prospectus delivered to the Placement Agent for use in
connection with this Offering and the Prospectus was or will be identical to the electronically transmitted copies thereof filed
with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.

 

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(b) None
of the Registration Statement, any amendment thereto, or the Preliminary Prospectus, as of 8:00 a.m. (Eastern time) on the date
hereof (the “Initial Sale Time”), and at the Closing Date, contained, contains or will contain an untrue statement
of a material fact or omitted, omits or will omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading; provided, however, that this representation and warranty shall not apply to statements made
or statements omitted in reliance upon and in conformity with written information furnished to the Company with respect to the
Placement Agent by the Placement Agent expressly for use in the Registration Statement or any amendment thereof or supplement thereto.
The parties acknowledge and agree that such information provided by or on behalf of any Placement Agent consists solely of the
following disclosure contained in the following paragraphs in the “Plan of Distribution” section of the Prospectus:
(i) the name of the Placement Agent, and (ii) the information under the subsection “Fees and Expenses” (the “Placement
Agent’s Information”).

 

(c) The
Disclosure Package, as of the Initial Sale Time and at the Closing Date, did not, does not and will not include an untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; and each Issuer Free Writing Prospectus does not conflict with the information contained
in the Registration Statement, any Preliminary Prospectus, or the Prospectus, and each such Issuer Free Writing Prospectus, as
supplemented by and taken together with the Preliminary Prospectus as of the Initial Sale Time, did not include an untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to statements
made or statements omitted in reliance upon and in conformity with written information furnished to the Company with respect to
the Placement Agent by the Placement Agent expressly for use in the Registration Statement, the Preliminary Prospectus or the Prospectus
or any amendment thereof or supplement thereto. The parties acknowledge and agree that such information provided by or on behalf
of any Placement Agent consists solely of the Placement Agent’s Information; and

 

(d) 
Neither the Prospectus nor any amendment or supplement thereto, as of its issue date, at the time of any filing with the Commission
pursuant to Rule 424(b), or at the Closing Date, included, includes or will include an untrue statement of a material fact or omitted,
omits or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to the Placement
Agent’s Information.

 

ii. Disclosure
of Agreements. The agreements and documents described in the Registration Statement, the Disclosure Package and the Prospectus
conform in all material respects to the descriptions thereof contained therein and there are no agreements or other documents required
by the Securities Act and the Securities Act Regulations to be described in the Registration Statement, the Disclosure Package
and the Prospectus or to be filed with the Commission as exhibits to the Registration Statement, that have not been so described
or filed. Each agreement or other instrument (however characterized or described) to which the Company is a party or by which it
is or may be bound or affected and (i) that is referred to in the Registration Statement, the Disclosure Package and the Prospectus,
and (ii) is material to the Company’s business, has been duly authorized and validly executed by the Company, is in full
force and effect in all material respects and is enforceable against the Company and, to the Company’s knowledge, the other
parties thereto, in accordance with its terms, except (x) as such enforceability may be limited by bankruptcy, insolvency, reorganization
or similar laws affecting creditors’ rights generally, (y) as enforceability of any indemnification or contribution provision
may be limited under the federal and state securities laws, and (z) that the remedy of specific performance and injunctive and
other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding
therefor may be brought. None of such agreements or instruments has been assigned by the Company, and neither the Company nor,
to the Company’s knowledge, any other party is in default thereunder and, to the Company’s knowledge, no event has
occurred that, with the lapse of time or the giving of notice, or both, would constitute a default thereunder, except as disclosed
in the Registration Statement, the Disclosure Package and the Prospectus. To the Company’s knowledge, performance by the
Company of the material provisions of such agreements or instruments will not result in a violation of any existing applicable
law, rule, regulation, judgment, order or decree of any governmental agency or court, domestic or foreign, having jurisdiction
over the Company or any of its assets or businesses (each, a “Governmental Entity”), including, without limitation,
those relating to environmental laws and regulations.

 

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iii. Changes
After Dates in Registration Statement.

 

(a) No
Material Adverse Change. Since the respective dates as of which information is given in the Registration Statement, the Disclosure
Package and the Prospectus, except as otherwise specifically stated therein: (i) there has been no material adverse change in the
financial position or results of operations of the Company, nor any change or development that, singularly or in the aggregate,
would involve a material adverse change, in or affecting the condition (financial or otherwise), results of operations, business,
assets or prospects of the Company (a “Material Adverse Change”); (ii) there have been no material transactions
entered into by the Company, other than as contemplated pursuant to this Agreement; and (iii) no officer or director of the Company
has resigned from any position with the Company.

 

(b) Recent
Securities Transactions, etc. Subsequent to the respective dates as of which information is given in the Registration Statement,
the Disclosure Package and the Prospectus, and except as may otherwise be indicated or contemplated herein or disclosed in the
Registration Statement, the Disclosure Package and the Prospectus, the Company has not: (i) issued any securities (other than (i)
grants under any stock compensation plan and (ii) shares of common stock issued upon exercise or conversion of option, warrants
or convertible securities described in the Registration Statement, the Disclosure Package and the Prospectus) or incurred any liability
or obligation, direct or contingent, for borrowed money; or (ii) declared or paid any dividend or made any other distribution on
or in respect to its capital stock.

 

E. Transactions
Affecting Disclosure to FINRA.

 

i. Finder’s
Fees. There are no claims, payments, arrangements, agreements or understandings relating to the payment of a finder’s,
consulting or origination fee by the Company or any executive officer or director of the Company (each an, “Insider”)
with respect to the sale of the Securities hereunder or any other arrangements, agreements or understandings of the Company or,
to the Company’s knowledge, any of its stockholders.

 

ii. Payments
Within Twelve (12) Months. The Company has not made any direct or indirect payments (in cash, securities or otherwise) to:
(i) any person, as a finder’s fee, consulting fee or otherwise, in consideration of such person raising capital for the Company
or introducing to the Company persons who raised or provided capital to the Company; (ii) any FINRA member; or (iii) any person
or entity that has any direct or indirect affiliation or association with any FINRA member, within the twelve (12) months prior
to the date hereof, other than (A) the payment to the Placement Agent as provided hereunder in connection with the Offering, and
(B) other payments to the Placement Agent under other engagement letters.

 

iii. Use
of Proceeds. None of the net proceeds of the Offering will be paid by the Company to any participating FINRA member or its
affiliates, except as specifically authorized herein.

 

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iv. FINRA
Affiliation. There is no (i) officer or director of the Company, (ii) to the Company’s knowledge, beneficial owner of
5% or more of any class of the Company’s securities or (iii) to the Company’s knowledge, beneficial owner of the Company’s
unregistered equity securities which were acquired during the 180-day period immediately preceding the filing of the Registration
Statement that is an affiliate or associated person of a FINRA member participating in the Offering (as determined in accordance
with the rules and regulations of FINRA).

 

F. Integration.
Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf has, directly or indirectly, made
any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause the Offering
to be integrated with prior offerings by the Company for purposes of the Securities Act that would require the registration of
any such securities under the Securities Act.

 

G. Restriction
on Sales of Capital Stock. The Company, on behalf of itself and any successor entity, agrees that it will not, for a period
of 30 days after the date of this Agreement (the “Lock-Up Period”), without the prior written consent of the
Placement Agent (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract
to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any
shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital
stock of the Company; (ii) file or cause to be filed any registration statement with the Commission relating to the offering of
any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital
stock of the Company, other than pursuant to a registration statement on Form S-8 for employee benefit plans; whether any such
transaction described in clause (i) or (ii) above is to be settled by delivery of shares of capital stock of the Company or such
other securities, in cash or otherwise; or (iii) publicly announce an intention to effect any transaction specified in clause (i)
or (ii). The restrictions contained in this section shall not apply to (i) the issuance by the Company of Common Stock upon the
exercise of stock options, warrants or the conversion of a security, in each case, that is outstanding on the date hereof, or (ii)
the grant by the Company of stock options or other stock-based awards, or the issuance of shares of capital stock of the Company
under any stock compensation plan of the Company in effect on the date hereof.

 

H. Lock-Up
Agreements. The Company has caused each of its officers, directors and 10% shareholders to deliver to the Placement Agent an
executed Lock-Up Agreement, in the form attached as Exhibit A hereto (the “Lock-Up Agreement”).

 

I. Variable
Rate Transactions. From the date hereof until one (1) year after the Closing Date, the Company shall be prohibited from effecting
or entering into an agreement to effect any issuance by the Company or any of its subsidiaries of Ordinary Shares or Ordinary Shares
equivalents (or a combination of units thereof) involving a Variable Rate Transaction. For purposes of this Agreement, “Variable
Rate Transaction” shall mean a transaction in which the Company (i) issues or sells any debt or equity securities that
are convertible into, exchangeable or exercisable for, or include the right to receive additional Ordinary Shares either (A) at
a conversion price, exercise price or exchange rate or other price that is based upon and/or varies with the trading prices of
or quotations for the Ordinary Shares at any time after the initial issuance of such debt or equity securities, or (B) with a conversion,
exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity
security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company
or the market for the Ordinary Shares or (ii) enters into, or effects a transaction under, any agreement, including, but not limited
to, an equity line of credit, whereby the Company may issue securities at a future determined price. The Placement Agent shall
be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to
any right to collect damages.

 

		8.	Conditions of the Obligations of the Placement Agent. 

 

The obligations of
the Placement Agent hereunder shall be subject to the accuracy of the representations and warranties on the part of the Company
set forth in Section 7 hereof, in each case as of the date hereof and as of the Closing Date as though then made, to the timely
performance by each of the Company of its covenants and other obligations hereunder on and as of such dates, and to each of the
following additional conditions: 

 

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A. Regulatory
Matters.

 

i. Effectiveness
of Registration Statement; Rule 424 Information. The Registration Statement is effective on the date of this Agreement, and,
on the Closing Date no stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto
has been issued under the Securities Act, no order preventing or suspending the use of any Preliminary Prospectus or the Prospectus
has been issued and no proceedings for any of those purposes have been instituted or are pending or, to the Company’s knowledge,
contemplated by the Commission. The Company has complied with each request (if any) from the Commission for additional information.
All filings with the Commission required by Rule 424 under the Securities Act to have been filed by the Closing Date, shall have
been made within the applicable time period prescribed for such filing by Rule 424.

 

ii. FINRA
Clearance. On or before the Closing Date of this Agreement, the Placement Agent shall have received clearance from FINRA as
to the amount of compensation allowable or payable to the Placement Agent as described in the Registration Statement.

 

iii. Listing
of Additional Shares. On or before the Closing Date of this Agreement, the Company shall have received clearance from The Nasdaq
Stock Market, Inc. with respect to the Company’s application for the additional listing of the securities sold in the Offering.

 

B. Company
Counsel Matters. On the Closing Date, the Placement Agent shall have received the favorable opinions of Bevilacqua PLLC, outside
U.S counsel for the Company and PacGate, PRC counsel for the Company, dated the Closing Date and addressed to the Placement Agent,
substantially in form and substance reasonably satisfactory to the Placement Agent.

 

C. Comfort
Letter. The Placement Agent shall have received a letter dated such date, in form and substance satisfactory to the Placement
Agent, from the Company’s independent public accountants, containing statements and information of the type ordinarily included
in accountants’ “comfort letters” with respect to the financial statements and certain financial information
contained in the Registration Statement and Prospectus.

 

D. Officers
Certificate. On the Closing Date, the Placement Agent shall have received a certificate of the chief executive officer and
chief financial officer of the Company, dated the Closing Date, to the effect that, (i) such officers have carefully examined the
Registration Statement, the Disclosure Package, any Issuer Free Writing Prospectus and the Prospectus and, in their opinion, the
Registration Statement and each amendment thereto, as of the Initial Sale Time and through the Closing Date did not include any
untrue statement of a material fact and did not omit to state a material fact required to be stated therein or necessary to make
the statements therein not misleading, and the Disclosure Package, as of the Initial Sale Time through the Closing Date, any Issuer
Free Writing Prospectus as of its date and as of the Closing Date, the Prospectus and each amendment or supplement thereto, as
of the respective date thereof and as of the Closing Date, did not include any untrue statement of a material fact and did not
omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances in which they
were made, not misleading; and (ii) as of the Closing Date the representations and warranties of the Company contained herein and
in the Securities Purchase Agreement were and are accurate in all material respects, and that the obligations to be performed by
the Company hereunder have been fully performed in all material respects.

 

E. Secretary
Certificate. On the Closing Date, the Placement Agent shall have received from the Company a certificate of the corporate secretary
of the Company, dated the Closing Date, certifying to the organizational documents of the Company, good standing in the jurisdiction
of formation of the Company and board resolutions authorizing the Offering of the Securities.

 

F. Indemnification
Escrow. On the Closing Date, the Company will enter into an escrow agreement (the “Escrow Agreement”) with
a mutually agreeable escrow agent, pursuant to which $500,000 of the proceeds of the Offering will be deposited by the Company,
in connection with the payments of the Company’s indemnification obligations pursuant to Section 9. All remaining funds in
the escrow account that are not subject to an indemnification claim as of the six-month anniversary of the Closing Date will be
returned to the Company in accordance with the terms of the escrow agreement. The Company shall pay the reasonable fees and expenses
of the escrow agent.

 

    8

     

    

 

G. No
Material Changes. Prior to and on the Closing Date: (i) there shall have been no Material Adverse Change or development involving
a prospective Material Adverse Change in the condition or prospects or the business activities, financial or otherwise, of the
Company from the latest dates as of which such condition is set forth in the Registration Statement, the Disclosure Package and
the Prospectus; (ii) no action, suit or proceeding, at law or in equity, shall have been pending or threatened against the Company
or any affiliates of the Company before or by any court or federal or state commission, board or other administrative agency wherein
an unfavorable decision, ruling or finding may materially adversely affect the business, operations, prospects or financial condition
or income of the Company, except as set forth in the Registration Statement, the Disclosure Package and the Prospectus; (iii) no
stop order shall have been issued under the Securities Act and no proceedings therefor shall have been initiated or threatened
by the Commission; and (iv) the Registration Statement, the Disclosure Package and the Prospectus and any amendments or supplements
thereto shall contain all material statements which are required to be stated therein in accordance with the Securities Act and
the Securities Act Regulations and shall conform in all material respects to the requirements of the Securities Act and the Securities
Act Regulations, and neither the Registration Statement, the Disclosure Package nor the Prospectus nor any amendment or supplement
thereto shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

 

H. Delivery
of Agreements.

 

(i) Lock-Up
Agreements. On or before the Closing Date of this Agreement, the Company shall have delivered to the Placement Agent executed
copies of the Lock-Up Agreements from each of the Company’s officers and directors.

 

(ii) Placement
Agent Warrant. On the Closing Date, the Company shall have delivered to the Placement Agent an executed copy of the Placement
Agent Warrant in such designations as requested by the Placement Agent.

 

(iii) Escrow
Agreement. On the Closing Date, the Company shall have delivered to the Placement Agent an executed copy of the Escrow Agreement.

 

I. Additional
Documents. At the Closing Date, Placement Agent Counsel shall have been furnished with such documents and opinions as they
may require in order to evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions,
herein contained; and all proceedings taken by the Company in connection with the issuance and sale of the Securities as herein
contemplated shall be satisfactory in form and substance to the Placement Agent and Placement Agent Counsel.

 

		9.	Indemnification and Contribution; Procedures. 

 

A. Indemnification
of the Placement Agent. The Company agrees to indemnify and hold harmless the Placement Agent, its affiliates and each person
controlling such Placement Agent (within the meaning of Section 15 of the Securities Act), and the directors, officers, agents
and employees of the Placement Agent, its affiliates and each such controlling person (the Placement Agent, and each such entity
or person hereafter is referred to as an “Indemnified Person”) from and against any losses, claims, damages,
judgments, assessments, costs and other liabilities (collectively, the “Liabilities”), and shall reimburse each
Indemnified Person for all fees and expenses (including the reasonable fees and expenses of counsel for the Indemnified Persons,
except as otherwise expressly provided in this Agreement) (collectively, the “Expenses”) and agrees to advance
payment of such Expenses as they are incurred by an Indemnified Person in investigating, preparing, pursuing or defending any actions,
whether or not any Indemnified Person is a party thereto, arising out of or based upon any untrue statement or alleged untrue statement
of a material fact contained in (i) the Registration Statement, the Disclosure Package, the Preliminary Prospectus, the Prospectus
or in any Issuer Free Writing Prospectus (as from time to time each may be amended and supplemented); (ii) any materials or information
provided to investors by, or with the approval of, the Company in connection with the marketing of the Offering, including any
“road show” or investor presentations made to investors by the Company (whether in person or electronically); or (iii)
any application or other document or written communication (in this Section 9, collectively called “application”) executed
by the Company or based upon written information furnished by the Company in any jurisdiction in order to qualify the Securities
under the securities laws thereof or filed with the Commission, any state securities commission or agency, any national securities
exchange; or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading, unless such statement or omission
was made in reliance upon, and in conformity with, the Placement Agent’s information. The Company also agrees to reimburse
each Indemnified Person for all Expenses as they are incurred in connection with such Indemnified Person’s enforcement of
his or its rights under this Agreement. Each Indemnified Person is an intended third party beneficiary with the same rights to
enforce the indemnification that each Indemnified Person would have if he was a party to this Agreement.

 

    9

     

    

 

B. Procedure.
Upon receipt by an Indemnified Person of actual notice of an action against such Indemnified Person with respect to which indemnity
may reasonably be expected to be sought under this Agreement, such Indemnified Person shall promptly notify the Company in writing;
provided that failure by any Indemnified Person so to notify the Company shall not relieve the Company from any obligation or liability
which the Company may have on account of this Section 9 or otherwise to such Indemnified Person, except to the extent (and only
to the extent) that its ability to assume the defense is actually impaired by such failure or delay. The Company shall, if requested
by the Placement Agent, assume the defense of any such action (including the employment of counsel and reasonably satisfactory
to the Placement Agent). Any Indemnified Person shall have the right to employ separate counsel in any such action and participate
in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless: (i)
the Company has failed promptly to assume the defense and employ counsel for the benefit of the Placement Agent and the other Indemnified
Persons or (ii) such Indemnified Person shall have been advised that in the opinion of counsel that there is an actual or potential
conflict of interest that prevents (or makes it imprudent for) the counsel engaged by the Company for the purpose of representing
the Indemnified Person, to represent both such Indemnified Person and any other person represented or proposed to be represented
by such counsel, it being understood, however, that the Company shall not be liable for the expenses of more than one separate
counsel (together with local counsel), representing the Placement Agent and all Indemnified persons who are parties to such
action. The Company shall not be liable for any settlement of any action effected without its written consent (which shall not
be unreasonably withheld). In addition, the Company shall not, without the prior written consent of the Placement Agent, settle,
compromise or consent to the entry of any judgment in or otherwise seek to terminate any pending or threatened action in respect
of which advancement, reimbursement, indemnification or contribution may be sought hereunder (whether or not such Indemnified Person
is a party thereto) unless such settlement, compromise, consent or termination (i) includes an unconditional release of each Indemnified
Person, acceptable to such Indemnified Party, from all Liabilities arising out of such action for which indemnification or contribution
may be sought hereunder and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act,
by or on behalf of any Indemnified Person. The advancement, reimbursement, indemnification and contribution obligations of the
Company required hereby shall be made by periodic payments of the amount thereof during the course of the investigation or defense,
as every Liability and Expense is incurred and is due and payable, and in such amounts as fully satisfy each and every Liability
and Expense as it is incurred (and in no event later than 30 days following the date of any invoice therefor).

 

C. Indemnification
of the Company. The Placement Agent agrees to indemnify and hold harmless the Company, its directors, its officers who signed
the Registration Statement and persons who control the Company within the meaning of Section 15 of the Securities Act or Section
20 of the Exchange Act against any and all Liabilities, but only with respect to untrue statements or omissions, or alleged untrue
statements or omissions made in the Registration Statement, any Preliminary Prospectus, the Disclosure Package or Prospectus or
any amendment or supplement thereto, in reliance upon, and in strict conformity with, the Placement Agent’s Information.
In case any action shall be brought against the Company or any other person so indemnified based on any Preliminary Prospectus,
the Registration Statement, the Disclosure Package or Prospectus or any amendment or supplement thereto, and in respect of which
indemnity may be sought against the Placement Agent, the Placement Agent shall have the rights and duties given to the Company,
and the Company and each other person so indemnified shall have the rights and duties given to the Placement Agent by the provisions
of Section 9.B. The Company agrees promptly to notify the Placement Agent of the commencement of any litigation or proceedings
against the Company or any of its officers, directors or any person, if any, who controls the Company within the meaning of Section
15 of the Securities Act or Section 20 of the Exchange Act, in connection with the issuance and sale of the Securities or in connection
with the Registration Statement, the Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus, provided, that failure
by the Company so to notify the Placement Agent shall not relieve the Placement Agent from any obligation or liability which the
Placement Agent may have on account of this Section 9.C. or otherwise to the Company, except to the extent the Placement Agent
is materially prejudiced as a proximate result of such failure..

 

    10

     

    

 

D. Contribution.
In the event that a court of competent jurisdiction makes a finding that indemnity is unavailable to any indemnified person, then
each indemnifying party shall contribute to the Liabilities and Expenses paid or payable by such indemnified person in such proportion
as is appropriate to reflect (i) the relative benefits to the Company, on the one hand, and to the Placement Agent and any other
Indemnified Person, on the other hand, of the matters contemplated by this Agreement or (ii) if the allocation provided by the
immediately preceding clause is not permitted by applicable law, not only such relative benefits but also the relative fault of
the Company, on the one hand, and the Placement Agent and any other Indemnified Person, on the other hand, in connection with the
matters as to which such Liabilities or Expenses relate, as well as any other relevant equitable considerations; provided that
in no event shall the Company contribute less than the amount necessary to ensure that all Indemnified Persons, in the aggregate,
are not liable for any Liabilities and Expenses in excess of the amount of commissions actually received by the Placement Agent
pursuant to this Agreement. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied
by the Company on the one hand or the Placement Agent on the other and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. The Company and the Placement Agent agree that it
would not be just and equitable if contributions pursuant to this subsection (D) were determined by pro rata allocation or by any
other method of allocation which does not take account of the equitable considerations referred to above in this subsection (D).
For purposes of this paragraph, the relative benefits to the Company, on the one hand, and to the Placement Agent on the other
hand, of the matters contemplated by this Agreement shall be deemed to be in the same proportion as: (a) the total value received
by the Company in the Offering, whether or not such Offering is consummated, bears to (b) the commissions paid to the Placement
Agent under this Agreement. Notwithstanding the above, no person guilty of fraudulent misrepresentation within the meaning of Section
11(f) of the Securities Act shall be entitled to contribution from a party who was not guilty of fraudulent misrepresentation.

 

E. Limitation.
The Company also agrees that no Indemnified Person shall have any liability (whether direct or indirect, in contract or tort or
otherwise) to the Company for or in connection with advice or services rendered or to be rendered by any Indemnified Person pursuant
to this Agreement, the transactions contemplated thereby or any Indemnified Person’s actions or inactions in connection with
any such advice, services or transactions, except to the extent that a court of competent jurisdiction has made a finding that
Liabilities (and related Expenses) of the Company have resulted primarily from such Indemnified Person’s gross negligence
or willful misconduct in connection with any such advice, actions, inactions or services.

 

F. Survival.
The advancement, reimbursement, indemnity and contribution obligations set forth in this Section 9 shall remain in full force and
effect regardless of any termination of, or the completion of any Indemnified Person’s services under or in connection with,
this Agreement. Each Indemnified Person is an intended third-party beneficiary of this Section 9, and has the right to enforce
the provisions of Section 9 as if he/she/it was a party to this Agreement.

 

		10.	Limitation of FT Global’s Liability to the Company. 

 

FT Global and the Company
further agree that neither FT Global nor any of its affiliates or any of their respective officers, directors, controlling persons
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), employees or agents shall have any
liability to the Company, its security holders or creditors, or any person asserting claims on behalf of or in the right of the
Company (whether direct or indirect, in contract or tort, for an act of negligence or otherwise) for any losses, fees, damages,
liabilities, costs, expenses or equitable relief arising out of or relating to this Agreement or the Services rendered hereunder,
except for losses, fees, damages, liabilities, costs or expenses that arise out of or are based on any action of or failure to
act by FT Global and that are finally judicially determined to have resulted solely from the gross negligence or willful misconduct
of FT Global.

 

    11

     

    

 

		11.	Limitation of Engagement to the Company. 

 

The Company acknowledges
that FT Global has been retained only by the Company, that FT Global is providing services hereunder as an independent contractor
(and not in any fiduciary or agency capacity) and that the Company’s engagement of FT Global is not deemed to be on behalf
of, and is not intended to confer rights upon, any shareholder, owner or partner of the Company or any other person not a party
hereto as against FT Global or any of its affiliates, or any of its or their respective officers, directors, controlling persons
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), employees or agents. Unless otherwise
expressly agreed in writing by FT Global, no one other than the Company is authorized to rely upon any statement or conduct of
FT Global in connection with this Agreement. The Company acknowledges that any recommendation or advice, written or oral, given
by FT Global to the Company in connection with FT Global’s engagement is intended solely for the benefit and use of the Company’s
management and directors in considering a possible Offering, and any such recommendation or advice is not on behalf of, and shall
not confer any rights or remedies upon, any other person or be used or relied upon for any other purpose. FT Global shall not have
the authority to make any commitment binding on the Company. The Company, in its sole discretion, shall have the right to reject
any investor introduced to it by FT Global. If any purchase agreement and/or related transaction documents are entered into between
the Company and the investors in the Offering, FT Global will be entitled to rely on the representations, warranties, agreements
and covenants of the Company contained in any such purchase agreement and related transaction documents as if such representations,
warranties, agreements and covenants were made directly to FT Global by the Company.

 

		12.	Amendments and Waivers. 

 

No supplement, modification
or waiver of this Agreement shall be binding unless executed in writing by the party to be bound thereby. The failure of a party
to exercise any right or remedy shall not be deemed or constitute a waiver of such right or remedy in the future. No waiver of
any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (regardless
of whether similar), nor shall any such waiver be deemed or constitute a continuing waiver unless otherwise expressly provided.

 

		13.	Confidentiality.

 

In the event of the
consummation or public announcement of any Offering, FT Global shall have the right to disclose its participation in such Offering,
including, without limitation, the placement at its cost of “tombstone” advertisements in financial and other newspapers
and journals. FT Global agrees not to use any confidential information concerning the Company provided to FT Global by the Company
for any purposes other than those contemplated under this Agreement.

 

		14.	Headings. 

 

The headings of the
various sections of this Agreement have been inserted for convenience of reference only and will not be deemed to be part of this
Agreement.

 

		15.	Counterparts. 

 

This Agreement may
be executed in one or more counterparts and, if executed in more than one counterpart, the executed counterparts shall each be
deemed to be an original and all such counterparts shall together constitute one and the same instrument.

 

		16.	Severability. 

 

In case any provision
contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability
of the remaining provisions contained herein will not in any way be affected or impaired thereby.

 

    12

     

    

 

		17.	Use of Information. 

 

The Company will furnish
FT Global such written information as FT Global reasonably requests in connection with the performance of its services hereunder.
The Company understands, acknowledges and agrees that, in performing its services hereunder, FT Global will use and rely entirely
upon such information as well as publicly available information regarding the Company and other potential parties to an Offering
and that FT Global does not assume responsibility for independent verification of the accuracy or completeness of any information,
whether publicly available or otherwise furnished to it, concerning the Company or otherwise relevant to an Offering, including,
without limitation, any financial information, forecasts or projections considered by FT Global in connection with the provision
of its services.

 

		18.	Absence of Fiduciary Relationship. 

 

The Company acknowledges
and agrees that: (a) the Placement Agent has been retained solely to act as Placement Agent in connection with the sale of the
Securities and that no fiduciary, advisory or agency relationship between the Company and the Placement Agent has been created
in respect of any of the transactions contemplated by this Agreement, irrespective of whether the Placement Agent has advised or
is advising the Company on other matters; (b) the Purchase Price and other terms of the Securities set forth in this Agreement
were established by the Company following discussions and arms-length negotiations with the Investors and the Company is capable
of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated by
this Agreement; (c) it has been advised that the Placement Agent and its affiliates are engaged in a broad range of transactions
that may involve interests that differ from those of the Company and that the Placement Agent has no obligation to disclose such
interest and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and (d) it has been advised
that the Placement Agent is acting, in respect of the transactions contemplated by this Agreement, solely for the benefit of the
Placement Agent, and not on behalf of the Company and that the Placement Agents may have interests that differ from those of the
Company. The Company waives to the full extent permitted by applicable law any claims it may have against the Placement Agent arising
from an alleged breach of fiduciary duty in connection with the Offering.

 

		19.	Survival of Indemnities, Representations, Warranties, Etc. 

 

The respective indemnities,
covenants, agreements, representations, warranties and other statements of the Company and Placement Agent, as set forth in this
Agreement or made by them respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation
made by or on behalf of the Placement Agent, the Company, the Purchasers or any person controlling any of them and shall survive
delivery of and payment for the Securities. Notwithstanding any termination of this Agreement, including without limitation any
termination pursuant to Section 5, the payment, reimbursement, indemnity, contribution and advancement agreements contained in
Sections 2, 9, 10, and 11, respectively, and the Company’s covenants, representations, and warranties set forth in this Agreement
shall not terminate and shall remain in full force and effect at all times. The indemnity and contribution provisions contained
in Section 9 and the covenants, warranties and representations of the Company contained in this Agreement shall remain operative
and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of
any Placement Agent, any person who controls any Placement Agent within the meaning of either Section 15 of the Securities Act
or Section 20 of the Exchange Act or any affiliate of any Placement Agent, or by or on behalf of the Company, its directors or
officers or any person who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of
the Exchange Act, and (iii) the issuance and delivery of the Securities.

 

		20.	Governing Law. 

 

This Agreement shall
be governed by and construed in accordance with the laws of the State of Georgia applicable to agreements made and to be fully
performed therein. Any disputes that arise under this Agreement, even after the termination of this Agreement, will be heard only
in the state or federal courts located in Fulton County, Georgia. The parties hereto expressly agree to submit themselves to the
jurisdiction of the foregoing courts in Fulton County, Georgia. The parties hereto expressly waive any rights they may have to
contest the jurisdiction, venue or authority of any court sitting in Fulton County, Georgia.

 

    13

     

    

 

		21.	Notices. 

 

All communications
hereunder shall be in writing and shall be mailed or hand delivered and confirmed to the parties hereto as follows: 

 

If to the Company:

 

CBAK Energy Technology,
Inc.

BAK Industrial Park,
Meigui Street

Huayuankou Economic
Zone

Dalian, China 116442

Attention: Chairman

 

If to the Placement
Agent:

 

FT Global Capital,
Inc.

5 Concourse Parkway,
Suite 3000

Atlanta, GA, 30328

Attention: President

 

Any party hereto may
change the address for receipt of communications by giving written notice to the others. 

 

		22.	Miscellaneous. 

 

This Agreement constitutes
the entire agreement of FT Global and the Company, and supersedes any prior agreements, with respect to the subject matter hereof;
provided that notwithstanding anything to the contrary set forth herein, it is understood and agreed by the parties hereto that
all other terms and conditions of that certain engagement letter between the Company and Placement Agent dated as of January 9,
2021 shall remain in full force and effect. If any provision of this Agreement is determined to be invalid or unenforceable in
any respect, such determination will not affect such provision in any other respect, and the remainder of this Agreement shall
remain in full force and effect. This Agreement may be executed in counterparts (including facsimile or .pdf counterparts), each
of which shall be deemed an original but all of which together shall constitute one and the same instrument.

 

		23.	Successors. 

 

This Agreement will
inure to the benefit of and be binding upon the parties hereto, and to the benefit of the employees, officers and directors and
controlling persons referred to in Section 9 hereof, and to their respective successors, and personal representative, and, except
as set forth in Section 9 of this Agreement, no other person will have any right or obligation hereunder. 

 

		24.	Partial Unenforceability. 

 

The invalidity or unenforceability
of any section, paragraph or provision of this Agreement shall not affect the validity or enforceability of any other section,
paragraph or provision hereof. If any Section, paragraph or provision of this Agreement is for any reason determined to be invalid
or unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it
valid and enforceable.

 

[SIGNATURE PAGE TO FOLLOW]

 

    14

     

    

 

In acknowledgment that
the foregoing correctly sets forth the understanding reached by FT Global and the Company, and intending to be legally bound, please
sign in the space provided below, whereupon this letter shall constitute a binding Agreement as of the date executed.

 

	Very truly yours,	 
	 	 
	CBAK ENERGY TECHNOLOGY, INC	 
	 	 	 
	By:	 	 
	 	Name:  	 	 
	 	Title:	 	 
	 	 	 	 
	Confirmed as of the date first written above:	 
	 	 
	 	 
	 	 
	FT GLOBAL CAPITAL, INC.	 
	 	 
	By:	 	 
	 	Name: 	Patrick Ko	 
	 	Title: 	President	 

 

    15

     

    

 

SCHEDULE I

 

Issuer General Use
Free Writing Prospectuses

 

 

None.

 

    16

     

    

 

Exhibit A

 

Lock-Up Agreement

 

February
8, 2021

 

FT Global Capital, Inc.

5 Concourse Parkway,
Suite 3000

Atlanta, GA, 30328

Attention: President

 

Ladies and Gentlemen:

 

The undersigned understands
that FT Global Capital, Inc. (the “Placement Agent”) proposes to enter into a Placement Agency Agreement (the
“Agreement”) with CBAK Energy Technology, a Nevada
corporation (the “Company”), providing for the public offering (the “Public Offering”)
of securities of the Company, including shares (the “Shares”) of the Company’s common stock (the “Common
Stock”).

 

To induce the Placement
Agent to continue its efforts in connection with the Public Offering, the undersigned hereby agrees that, without the prior written
consent of the Placement Agent, the undersigned will not, during the period commencing on the date hereof and ending 30 days after
the date of the final prospectus (the “Prospectus”) relating to the Public Offering (the “Lock-Up Period”),
(1) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose of, directly or indirectly, any Common
Stock, any securities convertible into or exercisable or exchangeable for Common Stock, whether now owned or hereafter acquired
by the undersigned or with respect to which the undersigned has or hereafter acquires the power of disposition (collectively, the
“Lock-Up Securities”); (2) enter into any swap or other arrangement that transfers to another, in whole or in
part, any of the economic consequences of ownership of the Lock-Up Securities, whether any such transaction described in clause
(1) or (2) above is to be settled by delivery of Lock-Up Securities, in cash or otherwise; (3) make any demand for or exercise
any right with respect to the registration of any Lock-Up Securities; or (4) publicly disclose the intention to make any offer,
sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any Lock-Up Securities.

 

Notwithstanding the
foregoing, and subject to the conditions below, the undersigned may transfer Lock-Up Securities without the prior written consent
of the Placement Agent in connection with (a) transactions relating to Lock-Up Securities acquired in open market transactions
after the completion of the Public Offering; provided that no filing under Section 16(a) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), shall be required or shall be voluntarily made in connection with
subsequent sales of Lock-Up Securities acquired in such open market transactions; (b) transfers of Lock-Up Securities as a bona
fide gift, by will or intestacy or to a family member or trust for the benefit of a family member (for purposes of this lock-up
agreement, “family member” means any relationship by blood, marriage or adoption, not more remote than first cousin);
(c) transfers of Lock-Up Securities to a charity or educational institution; or (d) if the undersigned, directly or indirectly,
controls a corporation, partnership, limited liability company or other business entity, any transfers of Lock-Up Securities to
any shareholder, partner or member of, or owner of similar equity interests in, the undersigned, as the case may be; provided
that in the case of any transfer pursuant to the foregoing clauses (b), (c) or (d), (i) any such transfer shall not involve
a disposition for value, (ii) each transferee shall sign and deliver to the Placement Agent a lock-up agreement substantially in
the form of this lock-up agreement and (iii) no filing under Section 16(a) of the Exchange Act shall be required or shall
be voluntarily made. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s
transfer agent and registrar against the transfer of the undersigned’s Lock-Up Securities except in compliance with this
lock-up agreement.

 

    17

     

    

 

Any release or waiver
granted by the Placement Agent hereunder shall only be effective two (2) business days after the publication date of a press release
announcing such release or waiver. The provisions of this paragraph will not apply if (a) the release or waiver is effected solely
to permit a transfer of Lock-Up Securities not for consideration and (b) the transferee has agreed in writing to be bound by the
same terms described in this lock-up agreement to the extent and for the duration that such terms remain in effect at the time
of such transfer.

 

No provision in this
agreement shall be deemed to restrict or prohibit the exercise, exchange or conversion by the undersigned of any securities exercisable
or exchangeable for or convertible into Common Stock, as applicable; provided that the undersigned does not transfer the
Common Stock acquired on such exercise, exchange or conversion during the Lock-Up Period, unless otherwise permitted pursuant to
the terms of this lock-up agreement. In addition, no provision herein shall be deemed to restrict or prohibit the entry into or
modification of a so-called “10b5-1” plan at any time (other than the entry into or modification of such a plan in
such a manner as to cause the sale of any Lock-Up Securities within the Lock-Up Period).

 

The undersigned understands
that the Company and the Placement Agent are relying upon this lock-up agreement in proceeding toward consummation of the Public
Offering. The undersigned further understands that this lock-up agreement is irrevocable and shall be binding upon the undersigned’s
heirs, legal representatives, successors and assigns.

 

The undersigned understands
that, if the Agreement is not executed within 30 days of the date hereof, or if the Agreement (other than the provisions thereof
which survive termination) shall terminate or be terminated prior to payment for and delivery of the Shares to be sold thereunder,
then this lock-up agreement shall be void and of no further force or effect.

 

Whether or not the
Public Offering actually occurs depends on a number of factors, including market conditions. Any Public Offering will only be made
pursuant to an Agreement, the terms of which are subject to negotiation between the Company and the Placement Agent.

 

[SIGNATURE PAGE TO FOLLOW]

 

    18

     

    

 

	 	Very truly yours,
	 	 
	 	 
	 	(Name - Please Print)
	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	(Name of Signatory, in the case of entities - Please Print)
	 	 
	 	 
	 	(Title of Signatory, in the case of entities - Please Print)Document

AIRCRAFT TIME SHARING AGREEMENT

This Aircraft Time Sharing Agreement (“Agreement”) is effective as of the 10th day of November 2020 (“Effective Date”), by and between Jack Henry and Associates, Inc. (“Lessor”), and David Foss (“Lessee”);

    RECITALS

WHEREAS, Lessor is the registered owner (“Owner”) of the following aircraft (individually and collectively, the “Aircraft):

•that certain Embraer Executive Aircraft Inc. model EMB-505 aircraft, bearing manufacturer’s serial number 50500138, currently registered with the Federal Aviation Administration (“FAA”) as N894JH;
•that certain Embraer Executive Aircraft Inc. model EMB-505 aircraft, bearing manufacturer’s serial number 50500174, currently registered with the FAA as N895JH;
•that certain Embraer Executive Aircraft Inc. model EMB-505 aircraft, bearing manufacturer’s serial number 50500215, currently registered with the FAA as N896JH; and
•that certain Embraer Executive Aircraft Inc. model EMB-505 aircraft, bearing manufacturer’s serial number 50500318, currently registered with the FAA as N897JH; 
      
WHEREAS, Lessor has obtained a fully qualified flight crew to operate the Aircraft; 

WHEREAS, Lessor desires to lease to Lessee said Aircraft and to provide a fully qualified flight crew for all operations on a periodic, non-exclusive time sharing basis, as defined in Section 91.501(c) of the Federal Aviation Regulations (“FARs”); and

WHEREAS, the use of the Aircraft by Lessee shall at all times be pursuant to and in full compliance with the requirements of FAR Sections 91.501 (b)(6), 91.501 (c)(1) and 91.501 (d);

NOW, THEREFORE, in consideration of the mutual promises and considerations contained in this Agreement, the parties agree as follows:

1.    Lessor agrees and has the right to lease the Aircraft to Lessee on a periodic, non-exclusive basis, and to provide a fully qualified flight crew for all operations, pursuant and subject to the provisions of FARs Section 91.501 (c)(1) and the terms to this Agreement.  With respect to each flight undertaken under this Agreement, Lessor shall have and retain operational control of the Aircraft as provided in the applicable FAR (as defined in FAR Section 1.1 “operational control,” with respect to a flight, means the exercise of authority over initiating, conducting, or terminating a flight.); and, for federal tax purposes, shall have and retain “possession, command and control” of the Aircraft.  This Agreement shall commence on the Effective Date and continue for a period of one 

(1) year after the Effective Date (the “Term”).  Thereafter, the Term of this Agreement will be automatically renewed on an annual basis, unless sooner terminated by either party at any time upon ten (10) days prior written notice to the other party.  

2.    Lessee shall pay Lessor for each flight conducted under this Agreement in an amount determined by Lessor, which in no event shall exceed the following actual expenses of each specific flight as authorized by FAR Section 91.501 (d);

(a)Fuel, oil, lubricants, and other additives;
(b)Travel expenses of the crew, including food, lodging and ground transportation;
(c)Hangar and tie down costs away from the Aircraft's base of operation;
(d)Insurance obtained for the specific flight;
(e)Landing fees, airport taxes and similar assessments; 
(f)Customs, foreign permit, and similar fees directly related to the flight;
(g)In-flight food and beverages;
(h)Passenger ground transportation;
(i)Flight planning and weather contract services; and
(j)An additional charge equal to 100% of the expenses listed in subparagraph             (a) of this paragraph.

3.    Lessor will pay all expenses related to each flight during the operation of the Aircraft when incurred, and will bill Lessee on a monthly basis as soon as practicable after the last day of each calendar month for the amount payable in accordance with paragraph 2 above for all flights for the account of Lessee during the preceding month.  Lessee shall pay Lessor for all flights for the account of Lessee pursuant to this Agreement within thirty (30) days of receipt of the invoice therefor.  Without limiting the foregoing, amounts payable by Lessee to Lessor under this Agreement may include any federal excise tax that may be imposed under Internal Revenue Code Section 4261 or any similar excise taxes, if any.

4.    Lessee shall provide Lessor with requests for flight time and proposed flight schedules as far in advance of any given flight as possible, and in no event less than twenty-four (24) hours in advance of Lessee's planned departure, unless Lessor otherwise agrees.  Requests for flight time shall be in a form, whether written or oral, mutually convenient to, and agreed upon by the parties.  In addition to the proposed schedules and flight times, Lessee shall provide at least the following information for each proposed flight at some time prior to scheduled departure as required by the Lessor or Lessor's flight crew:

(a)proposed departure point;
(b)destinations;
(c)date and time of flight;
(d)the number of anticipated passengers;
(e)the identity of each anticipated passenger;
(f)the nature and extent of luggage and/or cargo to be carried;
(g)the date and time of return flight, if any; and
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(h)any other information concerning the proposed flight that may be pertinent or required by Lessor or Lessor's flight crew.

5.     Lessor shall have sole and exclusive authority over the scheduling of the Aircraft, including any limitations on the number of passengers on any flight, provided however, that, Lessor will use reasonable efforts to accommodate Lessee's needs.  Lessee acknowledges that use of the Aircraft is on a first-come, first-serve basis and Lessor has no responsibility to make the Aircraft available.

6.     As between Lessor and Lessee, Lessor shall be solely responsible for securing maintenance, preventive maintenance and required or otherwise necessary inspections on the Aircraft, and shall take such requirements into account in scheduling the Aircraft.  No period of maintenance, preventative maintenance or inspection shall be delayed or postponed for the purpose of scheduling the Aircraft, unless said maintenance or inspection can be safely conducted at a later time in compliance with all applicable laws and regulations, and within the sound discretion of the pilot in command.  The pilot in command shall have final and complete authority to cancel any flight for any reason or condition, which in his judgment would compromise the safety of the flight.

7.    In accordance with applicable FARs, the qualified flight crew provided by Lessor will exercise all of its duties and responsibilities concerning the safety of each flight conducted hereunder.  Lessee specifically agrees that the flight crew, in its sole discretion, may terminate any flight, refuse to commence any flight, or take other action, which in the considered judgment of the pilot in command is necessitated by considerations of safety.  No such action of the pilot in command shall create or support any liability for loss, injury, damage or delay to Lessee or any other person.  The parties further agree that Lessor shall not be liable for delay or failure to furnish the Aircraft and crew pursuant to this Agreement when such failure is caused by government regulation or authority, mechanical difficulty, war, civil commotion, strikes or labor disputes, weather conditions, or acts of God or any other event or circumstance beyond the reasonable control of Lessor.

8.     (a)    At all times during the term of this Agreement, as between Lessor and Lessee, Lessor shall cause to be carried and maintained, at Lessor's cost and expense, physical damage insurance with respect to the Aircraft and third party aircraft liability insurance in such amounts and on such terms and conditions as Lessor shall determine in its sole discretion, Lessor shall also bear the cost of paying any deductible amount on any policy of insurance in the event of a claim or loss.

(b)    Any policies of insurance carried in accordance with this Agreement: (i) shall name Lessee as an additional insured and (ii) shall contain a waiver by the underwriter thereof of any right of subrogation against Lessee.  Each liability policy shall be primary without right of contribution from any other insurance, which is carried by Lessee or Lessor and shall expressly provide that all of the provisions thereof, except the limits of liability, shall operate in the same manner as if there were a separate policy covering each insured.

9.    (a)        LESSEE AGREES THAT THE PROCEEDS OF ANY INSURANCE (“INSURANCE PROCEEDS”) WILL BE LESSEE'S SOLE RECOURSE AGAINST 
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LESSOR, IT'S AFFILIATES, ITS AND THEIR RESPECTIVE PRESENT OR FORMER DIRECTORS, OFFICERS, EMPLOYEES, INSURERS AND AGENTS, AND THE SUCCESSORS AND ASSIGNS THEREOF, OR LESSOR’S OTHER LESSEES (COLLECTIVELY, THE “LESSOR PARTIES”) WITH RESPECT TO ANY CLAIMS, ACTIONS, SUITS, PROCEDURES, COSTS, EXPENSES, DAMAGES AND LIABILITIES (COLLECTIVELY, “CLAIMS”) THAT LESSEE, ITS EMPLOYEES, AGENTS, GUESTS OR INVITEES (AND THE LAWFUL SUCCESSOR AND ASSIGNS THEREOF) (COLLECTIVELY, THE “LESSEE PARTIES”), MAY HAVE UNDER THIS AGREEMENT OF WHATSOEVER NATURE, WHETHER SEEN OR UNFORESEEN, EXCEPT IN THE EVENT OF GROSS NEGLIGENCE OR WILLFUL MISCONDUCT BY LESSOR.  

 (b)  IN NO EVENT SHALL THE LESSOR PARTIES BE LIABLE TO THE LESSEE PARTIES FOR ANY CLAIMS FOR INDIRECT, CONSEQUENTIAL, SPECIAL OR INCIDENTAL DAMAGES AND/OR PUNITIVE DAMAGES OF ANY KIND OR NATURE (COLLECTIVELY, “CONSEQUENTIAL DAMAGES”), UNDER ANY CIRCUMSTANCES OR FOR ANY REASON, INCLUDING AND NOT LIMITED TO ANY DELAY OR FAILURE TO FURNISH THE AIRCRAFT, OR CAUSED BY THE PERFORMANCE OR NON-PERFORMANCE BY LESSOR OF THIS AGREEMENT.

(c)   LESSEE AGREES TO INDEMNIFY AND HOLD HARMLESS THE LESSOR PARTIES FROM ALL CLAIMS, INCLUDING REASONABLE ATTORNEY’S FEES AND COSTS, BROUGHT BY THE LESSEE PARTIES AGAINST THEM ARISING FROM OR RELATED TO (i) SUBJECT TO PARAGRAPH 9 (a) ABOVE, AMOUNTS THAT EXCEED THE INSURANCE PROCEEDS, OR (ii) CONSEQUENTIAL DAMAGES.

(d)  THE PROVISIONS OF THIS PARAGRAPH 9 SHALL SURVIVE INDEFINITELY THE TERMINATION OR EXPIRATION OF THE AGREEMENT.

10.    Lessee warrants that:

(a)    It will not use the Aircraft for the purpose of providing transportation of passengers or cargo in air commerce for compensation or hire, for any illegal purpose, or in violation of any insurance policies with respect to the Aircraft; 

(b)    It will refrain from incurring any mechanics, international interest, prospective international interest or other lien and shall not attempt to convey, mortgage, assign, lease or grant or obtain an international interest or prospective international interest or in any way alienate the Aircraft or create any kind of lien or security interest involving the Aircraft or do anything or take any action that might mature into such a lien; and

(c)     It will comply with all applicable laws, governmental and airport orders, rules, regulations, and Lessor’s policies, as shall from time to time be in effect relating in any way to the operation and use of the Aircraft under this Agreement.

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11.    For purposes of this Agreement, the permanent base of operation of the Aircraft shall be at a location of Lessor’s sole discretion.

12.    Lessee shall not assign this Agreement or its interest herein to any other person or entity without the prior written consent of Lessor, which may be granted or denied in Lessor’s sole discretion.  Subject to the preceding sentence, this Agreement shall inure to the benefit of and be binding upon the parties hereto, and their respective heirs, representatives, successors and assigns, and does not confer any rights on any other person.  This Agreement constitutes the entire understanding between the parties with respect to the subject matter hereof and supersedes any prior understandings and agreements between the parties respecting such subject matter.  This Agreement may be amended or supplemented and any provision hereof waived only by a written instrument signed by all parties.  The failure or delay on the part of any party to insist on strict performance of any of the terms and conditions of this Agreement or to exercise any rights or remedies hereunder shall not constitute a waiver of any such provisions, rights or remedies.  This Agreement may be executed in counterparts, which shall, singly or in the aggregate, constitute a fully executed and binding Agreement.

13.     Except as otherwise set forth in Section 4, any notices provided for in this Agreement shall be in writing and shall be deemed to have been duly given (i) when delivered personally, or (ii) when received by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested).  Notice to or consent by Lessor, shall be sent to c/o Chief Financial Officer, 663 Highway 60, Monett, MO 65708, and in the case of notice to or consent by Lessee, to David Foss with an address [REDACTED], or to such other address as a party may from time to time designate in writing to the other for that purpose.

14.    If any one or more provisions of this Agreement shall be held invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement shall be unimpaired, and the invalid, illegal, or unenforceable provisions shall be replaced by a mutually acceptable provision, which, being valid, legal, and enforceable, comes closest to the intention of the parties underlying the invalid, illegal, or unenforceable provision.  To the extent permitted by applicable law, the parties hereby waive any provision of law, which renders any provision of this Agreement prohibited or unenforceable in any respect.

15.     This Agreement is entered into under, and is to be construed in accordance with, the laws of the State of Missouri, without reference to conflicts of laws.  

[Remainder of Page Intentionally Left Blank]

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16.        TRUTH IN LEASING STATEMENT UNDER FAR SECTION 91.23
EACH OF THE FOLLOWING AIRCRAFT HAVE BEEN MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE 12 MONTH PERIOD PRECEDING THE DATE OF THIS LEASE
•AN EMBRAER EXECUTIVE AIRCRAFT, INC. MODEL EMB-505 AIRCRAFT, BEARING MANUFACTURER’S SERIAL NUMBER 50500138, CURRENTLY REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION AS N894JH;
•AN EMBRAER EXECUTIVE AIRCRAFT, INC. MODEL EMB-505 AIRCRAFT, BEARING MANUFACTURER’S SERIAL NUMBER 50500174, CURRENTLY REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION AS N895JH; 
•AN EMBRAER EXECUTIVE AIRCRAFT, INC. MODEL EMB-505 AIRCRAFT, BEARING MANUFACTURER’S SERIAL NUMBER 50500215, CURRENTLY REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION AS N896JH; 
•AN EMBRAER EXECUTIVE AIRCRAFT, INC. MODEL EMB-505 AIRCRAFT, BEARING MANUFACTURER’S SERIAL NUMBER 50500318, CURRENTLY REGISTERED WITH THE FEDERAL AVIATION ADMINISTRATION AS N897JH;

THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FAR PART 91 FOR OPERATIONS TO BE CONDUCTED UNDER THIS LEASE.  DURING THE DURATION OF THIS LEASE, JACK HENRY AND ASSOCIATES, INC. OF 663 HIGHWAY 60, MONETT, MO 65708 IS CONSIDERED RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT UNDER THIS LEASE.

AN EXPLANATION OF FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE.

THE “INSTRUCTIONS FOR COMPLIANCE WITH TRUTH IN LEASING REQUIREMENTS” ATTACHED HERETO ARE INCORPORATED HEREIN BY REFERENCE.

    JACK HENRY AND ASSOCIATES, INC., THROUGH ITS UNDERSIGNED AUTHORIZED SIGNATORY BELOW, CERTIFIES THAT LESSOR IS RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT AND THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS.

IN WITNESS WHEREOF, the parties have executed this Agreement to be effective as of the date first above written.

LESSOR – JACK HENRY AND ASSOCIATES, INC.
 
By:     _/s/ Kevin D. Williams_________                    
Name:     __Kevin Williams    __________                    
Title:     __CFO & Treasurer____________                     

LESSEE – DAVID FOSS

By:     _/s/ David Foss_________________                        
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INSTRUCTIONS FOR COMPLIANCE WITH “TRUTH IN LEASING” REQUIREMENTS

1.Mail a copy of the Agreement to the following address via certified mail, return receipt requested, immediately upon execution of the Agreement (14 C.F.R. 91.23 requires that the copy be sent within twenty-four hours after it is signed):

Federal Aviation Administration
Aircraft Registration Branch
ATTN:  Technical Section
P.O. Box 25724
Oklahoma City, Oklahoma 73125

2.At least forty-eight hours prior to the first flight under this Agreement telephone or notify in person the responsible Flight Standards office of:

i.The location of the airport of departure
ii.The departure time; and
iii.The registration number of the aircraft involved.

3.Carry a copy of the Agreement in the aircraft at all times.

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