Document:

firstamendmenttoseidmana

    FIRST AMENDMENT TO   AGREEMENT       This First Amendment to Agreement (this “Amendment”), is made as of July 30, 2022,  by and among Bankwell Financial Group, Inc., a Connecticut corporation (“Bankwell”) and  Lawrence B. Seidman, an individual (“Seidman”).    WHEREAS, the undersigned are parties to that certain Agreement dated as of February 5,  2020 (the “Agreement”) and all capitalized terms not otherwise defined herein shall have the  respective meanings set forth in the Agreement;     WHEREAS, pursuant to Section 16 of the Agreement, the Agreement may be amended  in a written document signed by each party to the Agreement; and    WHEREAS, the undersigned, being all of the parties to the Agreement, desire to amend  the Agreement to correct a scrivener’s error as further set forth herein;     NOW THEREFORE, in consideration of the foregoing premises and the mutual  covenants contained herein, and for other good and valuable consideration, the receipt and  sufficiency of which are hereby acknowledged, the parties hereto acknowledge and agree as  follows:    1. Amendment to Agreement. The first sentence of Section 8 of the Agreement is hereby  deleted in its entirety and replaced with the following:     “Notwithstanding anything herein or in any separate agreement between the Company  and Seidman or his Affiliates (including without limitation the Funds) to the contrary, in  the event that the Company’s tangible book value per share (as determined in good faith  by the Company) (“TBVPS”) is greater than the Company’s closing stock price (as  reported on the Nasdaq Stock Market) for twenty (20) consecutive trading days, any  restrictions on Seidman’s acquisition of shares of Common Stock in excess of 9.9% of  the Company’s fully diluted outstanding Common Stock shall be waived.”      2. Effect of Amendment.  This Amendment is an amendment to (and not a novation of) the  Agreement as well as the schedules thereto.  Except as specifically amended by this  Amendment, the Agreement is, and continues to be, in full force and effect as in effect prior to  the date hereof.    3. Counterparts.  This Amendment may be executed in one or more counterparts (including  by means of facsimile signature pages or other electronic means), all of which shall be  considered one and the same agreement and shall become effective when one or more such  counterparts have been signed by each of the parties and delivered to the other party.      [Signature page to follow]   

 

  2    IN WITNESS WHEREOF, the parties have signed this Amendment or caused this  Amendment to be signed by their duly authorized representatives, all as of the date first written  above.         BANKWELL FINANCIAL GROUP, INC.           By:  s/Christopher Gruseke    Name:   Christopher Gruseke    Title:    Chief Executive Officer                 s/ Lawrence B. Seidman    LAWRENCE B. SEIDMANExhibit 10.4

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August 5, 2022
Via Electronic Mail
Bluerock Real Estate, L.L.C.
1345 Avenue of the Americas, 32nd Floor
New York, New York 10105
Attention: Michael Konig
Email: mkonig@bluerockre.com
Bluerock Real Estate Holdings, LLC
1345 Avenue of the Americas, 32nd Floor
New York, New York 10105
Attention: Michael Konig
Email: mkonig@bluerockre.com
		Re:
	Notice of Renewal of Administrative Services Agreement dated October 31, 2017 (the “Agreement”), by and between Bluerock Real Estate, L.L.C. (“BRRE”) and Bluerock Real Estate Holdings, LLC (“BREH,” and together with BRRE, the “Bluerock Entities”), and Bluerock Residential Growth REIT, Inc. (the “REIT”), Bluerock Residential Holdings, L.P. (the “OP”), Bluerock TRS Holdings, LLC (the “TRS”), and Bluerock REIT Operator, LLC (“REIT Operator,” and together with the REIT, the OP and the TRS, the “Company”).

Gentlemen:
The Company hereby notifies the Bluerock Entities that pursuant to Section 9.1 of the Agreement, the Company elects to renew the Agreement for an additional one-year term, to expire on October 31, 2023.
Please let me know if you have any questions.
Sincerely,
/s/ Jordan B. Ruddy
Jordan B. Ruddy
Chief Operating Officer and President
Bluerock Residential Growth REIT, Inc.
Cc:R. Ramin Kamfar (via email)Exhibit 10.1

 

Supplementary Agreement II to Share Transfer Agreement
Of

 

Jiangxi Huiyi New Energy Co., Ltd.

 

by and between

 

Zhejiang Kandi Technologies Group Co., Ltd

 

And

 

Liao Zongjiang, Liao Chunsheng,
Liao Caijin

 

     

     

    

 

This Supplementary Agreement II to the share transfer
agreement (hereinafter referred to as this “Supplementary Agreement II”) is signed on June 20, 2022 in Jinhua City Zhejiang
Province, People’s Republic of China, by and between:

 

Party A: Zhejiang Kandi Technologies Group Co.,
Ltd. (hereinafter referred to as “Transferee”)

 

Legal Representative: Hu Xiaoming

 

Party B: Liao Zongjiang, Liao Chunsheng, Liao
Caijin (hereinafter referred to as “Transferors”)

 

Liao Zongjiang's ID number:
612324197306105310

 

Liao Chunsheng’s ID
number: 612324198403145175

 

Liao Caijin’s ID number:
612324198202095191

 

The following transferors and transferee are hereinafter
collectively referred to as the "parties" and individually as a "party".

 

Whereas: The ongoing COVID-19 and Russia-Ukraine conflicts
which impacted company’s normal operation and business, through friendly negotiation both parties agreed to make following adjustments
and supplements to the Supplementary Agreement dated on July 13, 2021 (hereinafter referred to as “the original Supplementary Agreement”):

 

1. The original Supplementary Agreement “1.
Both parties shall make joint efforts to ensure that Jiangxi Huiyi will realize a net profit of no less than RMB15 million yuan from July
1, 2021 to June 30, 2022, and no less than RMB15 million yuan from July 1, 2022 to June 30, 2023, and no less than RMB15 million yuan
from July 1, 2023 to June 30, 2024, in the premise of no increase in the existing investment. Each net profit under this Supplementary
Agreement shall be calculated based on the definition of “Net Income”in the United States General Accounting Standards (USGAAP),
and shall be reviewed and confirmed by the third party auditor designated by the transferee.” is adjusted to“1. Both parties
shall make joint efforts to ensure that Jiangxi Huiyi will realize a net profit of no less than RMB 8 million yuan from July 1, 2021 to
September 30, 2022, and no less than RMB 15 million yuan from October 1, 2022 to September 30, 2023, and no less than RMB 15 million yuan
from October 1, 2023 to September 30, 2024, in the premise of no increase in the existing investment. Each net profit under this Supplementary
Agreement, except as specifically provided in Article 2 hereof, shall be calculated based on the definition of “Net Income”in
the United States General Accounting Standards (USGAAP), and shall be reviewed and confirmed by the third party auditor designated by
the transferee.

 

    2

     

    

 

The original Supplementary Agreement “Condition
I : The transferors have the right to obtain 858,770 KNDI shares, namely one third of the total number of shares, provided that Jiangxi
Huiyi achieves a net profit of RMB 15 million yuan or more during the period from July 1, 2021 to June 30, 2022, and after the above value
is reviewed and confirmed by the auditor designated by the transferors and meets the US GAAP. If the net profit of Jiangxi Huiyi in the
current year fails to reach 15 million yuan, the shares that the transferors are entitled to obtain in the current year will be adjusted
as follows according to the situation:

 

A. If the difference between
the net profit in the current year and RMB 15 million yuan is less than or equivalent to 20% of RMB 15 million, the transferee or KNDI
has right to directly subtract 171,754 KNDI shares from the total shares, and the transferors are entitled to obtain 687,016 KNDI shares;

 

B. If the difference between
the net profit of the current year and RMB 15 million yuan is more than 20% of RMB 15 million and less than 40% of RMB 15 million, the
transferee or KNDI has the right to directly subtract 343,508 KNDI shares from the total shares, and the transferors have the right to
obtain 515,262 KNDI shares;

 

C. If the difference between
the net profit of the current year and RMB 15 million is greater than or equal to 40% of RMB 15 million, the transferee or KNDI has the
right to directly subtract 858,770 KNDI shares from the total shares, and the transferors will not have the right to obtain any shares
in such year.

 

Being adjusted to: Condition I : The transferors
have the right to obtain 858,770 KNDI shares, namely one third of the total number of shares, provided that Jiangxi Huiyi achieves a net
profit of RMB 8 million yuan or more during the period from July 1, 2021 to September 30, 2022, and after the above value is reviewed
and confirmed by the auditor designated by the transferors and meets the US GAAP. If the net profit of Jiangxi Huiyi in the current year
fails to reach 8 million yuan, the shares that the transferors are entitled to obtain in the current year will be adjusted as follows
according to the situation:

 

A. If the difference between
the net profit in the current year and RMB 8 million yuan is less than or equivalent to 20% of RMB 8 million, the transferee or KNDI has
right to directly subtract 171,754 KNDI shares from the total shares, and the transferors are entitled to obtain 687,016 KNDI shares;

 

B. If the difference between
the net profit of the current year and RMB 8 million yuan is more than 20% of RMB 8 million and less than 40% of RMB 8 million, the transferee
or KNDI has the right to directly subtract 343,508 KNDI shares from the total shares, and the transferors have the right to obtain 515,262
KNDI shares;

 

C. If the difference between
the net profit of the current year and RMB 8 million is greater than or equal to 40% of RMB 8 million, the transferee or KNDI has the
right to directly subtract 858,770 KNDI shares from the total shares, and the transferors will not have the right to obtain any shares
in such year.

 

    3

     

    

 

The original Supplementary Agreement “Condition
II.: The transferors have the right to obtain 858,770 KNDI shares, namely one third of the total number of shares, provided that Jiangxi
Huiyi achieves a net profit of RMB 15 million yuan or more during the period from July 1, 2022 to June 30, 2023, and after the above value
is reviewed and confirmed by the auditor designated by the transferors and meets the US GAAP. If the net profit of Jiangxi Huiyi in the
current year fails to reach 15 million yuan, the shares that the transferors are entitled to obtain in the current year will be adjusted
as follows according to the situation:

 

A. If the difference between
the net profit in the current year and RMB 15 million yuan is less than or equivalent to 20% of RMB 15 million, the transferee or KNDI
has right to directly subtract 171,754 KNDI shares from the total shares, and the transferors are entitled to obtain 687,016 KNDI shares;

 

B. If the difference between
the net profit of the current year and RMB 15 million yuan is more than 20% of RMB 15 million and less than 40% of RMB 15 million, the
transferee or KNDI has the right to directly subtract 343,508 KNDI shares from the total shares, and the transferors have the right to
obtain 515,262 KNDI shares;

 

C. If the difference between
the net profit of the current year and RMB 15 million is greater than or equal to 40% of RMB 15 million, the transferee or KNDI has the
right to directly subtract 858,770 KNDI shares from the total shares, and the transferors will not have the right to obtain any shares
in such year.

 

Being adjusted to: Condition II.: The transferors
have the right to obtain 858,770 KNDI shares, namely one third of the total number of shares, provided that Jiangxi Huiyi achieves a net
profit of RMB 15 million yuan or more during the period from October 1, 2022 to September 30, 2023, and after the above value is reviewed
and confirmed by the auditor designated by the transferors and meets the US GAAP. If the net profit of Jiangxi Huiyi in the current year
fails to reach 15 million yuan, the shares that the transferors are entitled to obtain in the current year will be adjusted as follows
according to the situation:

 

A. If the difference between
the net profit in the current year and RMB 15 million yuan is less than or equivalent to 20% of RMB 15 million, the transferee or KNDI
has right to directly subtract 171,754 KNDI shares from the total shares, and the transferors are entitled to obtain 687,016 KNDI shares;

 

B. If the difference between
the net profit of the current year and RMB 15 million yuan is more than 20% of RMB 15 million and less than 40% of RMB 15 million, the
transferee or KNDI has the right to directly subtract 343,508 KNDI shares from the total shares, and the transferors have the right to
obtain 515,262 KNDI shares;

 

C. If the difference between
the net profit of the current year and RMB 15 million is greater than or equal to 40% of RMB 15 million, the transferee or KNDI has the
right to directly subtract 858,770 KNDI shares from the total shares, and the transferors will not have the right to obtain any shares
in such year.

 

    4

     

    

 

The original Supplementary Agreement “Condition
III: The transferors have the right to obtain 858,770 KNDI shares, namely one third of the total number of shares, provided that Jiangxi
Huiyi achieves a net profit of RMB 15 million yuan or more during the period from July 1, 2023 to June 30, 2024, and after the above value
is reviewed and confirmed by the auditor designated by the transferors and meets the US GAAP. If the net profit of Jiangxi Huiyi in the
current year fails to reach RMB15 million yuan, the shares that the transferors are entitled to obtain in the current year will be adjusted
as follows according to the situation:

 

A. If the difference between
the net profit in the current year and RMB 15 million yuan is less than or equivalent to 20% of RMB 15 million, the transferee or KNDI
has right to directly subtract 171,754 KNDI shares from the total shares, and the transferors are entitled to obtain 687,016 KNDI shares;

 

B. If the difference between
the net profit of the current year and RMB 15 million yuan is more than 20% of RMB 15 million and less than 40% of RMB 15 million, the
transferee or KNDI has the right to directly subtract 343,508 KNDI shares from the total shares, and the transferors have the right to
obtain 515,262 KNDI shares;

 

C. If the difference between
the net profit of the current year and RMB 15 million is greater than or equal to 40% of RMB 15 million, the transferee or KNDI has the
right to directly subtract 858,770 KNDI shares from the total shares, and the transferors will not have the right to obtain any shares
in such year.

 

Being adjusted to: Condition III: The transferors
have the right to obtain 858,770 KNDI shares, namely one third of the total number of shares, provided that Jiangxi Huiyi achieves a net
profit of RMB 15 million yuan or more during the period from October 1, 2023 to September 30, 2024, and after the above value is reviewed
and confirmed by the auditor designated by the transferors and meets the US GAAP. If the net profit of Jiangxi Huiyi in the current year
fails to reach RMB15 million yuan, the shares that the transferors are entitled to obtain in the current year will be adjusted as follows
according to the situation:

 

A. If the difference between
the net profit in the current year and RMB 15 million yuan is less than or equivalent to 20% of RMB 15 million, the transferee or KNDI
has right to directly subtract 171,754 KNDI shares from the total shares, and the transferors are entitled to obtain 687,016 KNDI shares;

 

B. If the difference between
the net profit of the current year and RMB 15 million yuan is more than 20% of RMB 15 million and less than 40% of RMB 15 million, the
transferee or KNDI has the right to directly subtract 343,508 KNDI shares from the total shares, and the transferors have the right to
obtain 515,262 KNDI shares;

 

C. If the difference between
the net profit of the current year and RMB 15 million is greater than or equal to 40% of RMB 15 million, the transferee or KNDI has the
right to directly subtract 858,770 KNDI shares from the total shares, and the transferors will not have the right to obtain any shares
in such year.

 

    5

     

    

 

2. Special agreement The transferee agreed to
adjust Jiangxi Huiyi 's net profit in accordance with USGAAP as follow: Agreed that the amortization expenses and tax costs (if any)
of intangible assets of RMB 69 million, which was recognized under the consolidation standards based on the Purchase Price Allocation
Evaluation, shall be adjusted on the net income confirmed by the third party auditor designated by the transferee shall not be taken
as a deduction of the total pre-tax income. 

 

3. This Supplementary Agreement constitutes an
effective supplement to the Share transfer Agreement and the original Supplementary Agreement, and has the same legal force. The Share
Transfer Agreement, the original Supplementary Agreement and this Supplementary Agreement shall be legally binding on both parties to
this Supplementary Agreement. The provisions in this Supplementary Agreement shall prevail in the event of any discrepancy among provisions
in this Supplementary Agreement, the Share Transfer Agreement and the original Supplementary Agreement. The Share Transfer Agreement,
the original Supplementary Agreement and/or this Supplementary Agreement shall not be supplemented or modified in any form without the
consensus of both parties.

 

4. Both parties are obliged to keep this Supplementary
Agreement confidential, without the prior written consent of both parties, neither party has the right to disclose or confirm contents
of this Supplementary Agreement to a third party. However, if the transferee and KNDI are required to disclose this Supplementary Agreement
in accordance with the regulations of the U.S. Securities and Exchange Commission, such disclosure shall not be subject to the restrictions
of this article.

 

5. This Supplementary Agreement shall take effect
from the date of signing by both parties. The conclusion, effectiveness, interpretation, performance and dispute settlement of this Supplementary
Agreement shall be governed by Chinese law. The invalidity of any provision in this Supplementary Agreement shall not affect the validity
of any other provision in this Supplementary Agreement.

 

6. Any dispute arising out of the Share Transfer
Agreement, the original Supplementary Agreement or this Supplementary Agreement or in connection with this Supplementary Agreement shall
be settled through friendly negotiation. In case no agreement can be reached, the dispute shall be adjudicated by the people’s
court.

 

7. This Supplementary Agreement is written in
Chinese, and the Chinese original is made in quadruplicate. Each transferor holds one original, and the transferee holds one original.

 

(no text below)

 

    6

     

    

 

IN WITNESS HEREOF, the transferee and the
transferors have executed this Supplementary Agreement as of the date first above written.

 

The Transferee: Zhejiang Kandi Technologies Group
Co., Ltd.

 

Seal:

 

Signature of authorized representative: _________________________

 

The transferor: Liao Zongjiang, Liao Chunsheng,
Liao Caijin

 

Signature: __________________________

 

Kandi Technologies Group, Inc. hereby acknowledges
this Supplementary Agreement and promises to perform its obligations under this Supplementary Agreement.

 

Seal:

 

Signature of President or CEO: ___________________________

 

 

7

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