Document:

EX-10.33

 Exhibit 10.33 

STOCK OWNERSHIP GUIDELINES 

FASTLY, INC. 
 Purpose 

The Board of Directors (“Board”) of Fastly, Inc. (“Fastly”) believes that it is in the best interest of Fastly and its stockholders to
align the financial interests of its Chief Executive Officer (the “CEO”), other executive officers and non-employee directors with those of its stockholders. 

Ownership Guidelines 
 Accordingly, the Board has
established these Stock Ownership Guidelines. Prior to the fifth anniversary of Fastly’s initial public offering, or prior to the fifth anniversary of the date on which an executive officer or
non-employee director is first subject to these guidelines, whichever is later: 
  

	 	•	 	 the CEO will be expected to hold common stock of Fastly having a value equal to three times the CEO’s annual
base salary; 

  

	 	•	 	 the other executive officers will be expected to hold common stock of Fastly having a value equal to their
respective annual base salary; and 

  

	 	•	 	 the non-employee directors will be expected to hold common stock of
Fastly having a value equal to four times their annual cash retainer for Board and Board committee service. 

 Definition of Ownership

 Stock ownership for the purpose of these guidelines will include the following: 

 

	 	•	 	 shares of common stock owned directly, including restricted shares and shares deliverable upon settlement of
restricted or unrestricted stock units, excluding restricted shares or restricted stock units that remain subject to achievement of performance goals, such as performance share units; and 

 

	 	•	 	 shares of common stock owned indirectly, if the individual has an economic interest in the shares. For this
purpose, indirect ownership includes shares that would be beneficially owned as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and
reported for purposes of the stock ownership table in Fastly’s proxy statement (excluding shares subject to a right to acquire) and shares beneficially owned and reportable on Table 1 of Forms 3, 4 or 5 under the Exchange Act.

 Stock ownership will not include shares underlying stock options or otherwise subject to a right to acquire, except to the extent
expressly provided above. 
 Stock Ownership Calculation 

The value of Fastly common stock beneficially owned by the executive officer or non-employee director will be measured
by reference to the closing price of the Class A common stock as quoted on the New York Stock Exchange. Share prices of all companies are subject to market volatility. In the event there is a significant decline in the stock price of
Fastly’s common stock that causes the individual’s holdings to fall below the applicable threshold, the individual will not be required to purchase additional shares to meet the threshold. 

Administration 
 The Compensation Committee of the Board
shall be responsible for monitoring compliance with these guidelines.Exhibit 10.1

 

FORM OF INDEMNIFICATION AGREEMENT 

 

THIS INDEMNIFICATION AGREEMENT (this “Agreement”)
dated as of             , 2019, by and between Kaixin Auto Holdings,
an exempted Cayman Islands company (the “Company”) and             ,
a [director and/or executive officer] of the Company (the “Indemnitee”).

 

WHEREAS, it is essential to the
Company that it be able to retain and attract the most capable persons available as directors and officers;

 

WHEREAS, increased corporate litigation
has subjected directors and officers to litigation risks and expenses, and the limitations on the availability of directors and
officers liability insurance have made it increasingly difficult for the Company to attract and retain such persons;

 

WHEREAS, the Company’s governing
documents require it to indemnify its directors and officers to the fullest extent permitted by law and permit it to make other
indemnification arrangements and agreements; and

 

WHEREAS, the Company desires to
provide the Indemnitee with specific contractual assurance of the Indemnitee’s rights to full indemnification against litigation
risks and expenses (regardless of any amendment to or revocation of the Company’s governing documents or any change in the
ownership of the Company or the composition of its Board of Directors).

 

NOW, THEREFORE, in consideration
of the promises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

 

1. Indemnification.

 

(a) Indemnification of Expenses.

 

(i) Third-Party Claims. Subject
to Section 8 below, the Company shall indemnify and hold harmless the Indemnitee to the fullest extent permitted by law if
the Indemnitee was or is or becomes a party to or witness in, or is threatened to be made a party to or witness in, any threatened,
pending or completed action, suit, proceeding or alternative dispute resolution mechanism, or any hearing, inquiry or investigation
that such Indemnitee reasonably believes might lead to the institution of any such action, suit, proceeding or alternative dispute
resolution mechanism, whether civil, criminal, administrative, investigative or other (hereinafter a “Claim”)
(other than an action by right of the Company) by reason of the fact that the Indemnitee is or was a director or officer of the
Company, or any subsidiary or affiliated entity of the Company, or is or was serving at the request of the Company as a director
or officer of another corporation, partnership, limited liability company, joint venture, trust or other enterprise, or by reason
of any action or inaction on the part of the Indemnitee while serving in such capacity (hereinafter, an “Agent”)
or as a direct or indirect result of any Claim made by any shareholder of the Company against the Indemnitee and arising out of
or related to any round of financing of the Company (including but not limited to Claims regarding non-participation, or non-pro
rata participation, in such round by such shareholder), or made by a third party against the Indemnitee based on any misstatement
or omission of a material fact by the Company in violation of any duty of disclosure imposed on the Company by securities or common
laws (hereinafter an “Indemnification Event”) against any and all expenses (including attorneys’ fees
and all other costs, expenses and obligations), judgments, fines, penalties and amounts paid in settlement (if, and only if, such
settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) (the “Expenses”)
actually and reasonably incurred by the Indemnitee in connection with investigating, attempting to amicably resolve, preparing
for, defending or participating in (including on appeal) such Claim if the Indemnitee acted in good faith and in a manner he or
she reasonably believed to be in, or not opposed to, the best interests of the Company and, with respect to any criminal action
or proceeding, had no reasonable cause to believe his conduct was unlawful.

 

(ii) Derivative Actions. If the
Indemnitee is a person who was or is a party or is threatened to be made a party to any Claim by or in the right of the Company
to procure a judgment in its favor by reason of the fact that he or she is or was an Agent of the Company, or by reason of anything
done or not done by him or her in any such capacity, the Company shall indemnify the Indemnitee against any amounts paid in settlement
of any such Claim and all Expenses actually and reasonably incurred by him or her in connection with investigating, attempting
to amicably resolve, preparing for, defending, settling or appealing such Claim if he or she acted in good faith and in a manner
he or she reasonably believed to be in, or not opposed to, the best interests of the Company; except that no indemnification
under this subsection shall be made in respect of any claim, issue or matter as to which such person shall have been finally adjudged
to be liable to the Company by a court of competent jurisdiction due to willful misconduct or gross negligence in the performance
of his or her duty to the Company, unless and only to the extent that the court in which such proceeding was brought shall determine
upon application that, despite the adjudication of liability and in view of all the circumstances of the case, such person is fairly
and reasonably entitled to indemnity for such amounts the court may deem proper.

 

     

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(b) Reviewing Party. Notwithstanding
the foregoing, (i) the obligations of the Company under Section 1(a) shall be subject to the condition that the Reviewing
Party (as defined in Section 10(e) hereof) shall not have determined that the Indemnitee would not be permitted to be indemnified
under applicable law or pursuant to Section 8 hereof, and (ii) the Indemnitee acknowledges and agrees that the obligation
of the Company to make an advance payment of Expenses to the Indemnitee pursuant to Section 2(a) (an “Expense Advance”)
shall be subject to the condition that, if, when and to the extent that the Reviewing Party determines that the Indemnitee would
not be permitted to be so indemnified under applicable law or Section 8 hereof, the Company shall be entitled to be reimbursed
by the Indemnitee (who hereby agrees to promptly reimburse the Company) for all such amounts theretofore paid; provided, however,
that if the Indemnitee has commenced or thereafter commences legal proceedings in a court of competent jurisdiction to secure a
determination that the Indemnitee should be indemnified under applicable law or Section 8 hereof, any determination made by
the Reviewing Party that the Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and
the Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made
with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). The Indemnitee’s obligation
to reimburse the Company for any Expense Advance shall be unsecured and no interest shall be charged thereon. If there has not
been a Change in Control (as defined in Section 10(c) hereof), the Reviewing Party shall be selected by a majority of the
Board of Directors (excluding the Indemnitee who is a director), and if there has been such a Change in Control (other than a Change
in Control which has been approved by a majority of the Company’s Board of Directors (other than the Indemnitee who is a
director) who were directors immediately prior to such Change in Control), the Reviewing Party shall be the Independent Legal Counsel
referred to in Section 1(e) hereof. If there has been no determination by the Reviewing Party or if the Reviewing Party determines
that the Indemnitee substantively would not be permitted to be indemnified in whole or in part under applicable law or Section 8
hereof, the Indemnitee shall have the right to commence litigation seeking an initial determination by the court or challenging
any such determination by the Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company
hereby consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise
shall be conclusive and binding on the Company and the Indemnitee.

 

(c) Contribution. If the indemnification
provided for in Section 1(a) above is, for any reason other than the statutory limitations of applicable law or as provided
in Section 8, held by a court of competent jurisdiction to be unavailable to the Indemnitee in respect of any losses, claims,
damages, expenses or liabilities in which the Company is jointly liable with the Indemnitee, as the case may be (or would be jointly
liable if joined), then the Company, in lieu of indemnifying the Indemnitee thereunder, shall contribute to the amount actually
and reasonably incurred and paid or payable by the Indemnitee as a result of such losses, claims, damages, expenses or liabilities
in such proportion as is appropriate to reflect (i) the relative benefits received by the Company and the Indemnitee, and
(ii) the relative fault of the Company and the Indemnitee in connection with the action or inaction that resulted in such
losses, claims, damages, expenses or liabilities, as well as any other relevant equitable considerations. The relative fault of
the Company and the Indemnitee shall be determined by reference to, among other things, whether the untrue or allegedly untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the
Company or the Indemnitee and the parties’ relative intent, knowledge, access to information and opportunity to correct or
prevent the circumstances resulting in such losses, claims, damages, expenses or liabilities.

 

The Company and the Indemnitee agree that
it would not be just and equitable if contribution pursuant to this Section 1(c) were determined by pro rata or per capita
allocation or by any other method of allocation which does not take into account the equitable considerations referred to in the
immediately preceding paragraph. No person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the U.S. Securities Act of 1933, as amended (the “Securities Act”)) shall be entitled to contribution from
any person who was not found guilty of such fraudulent misrepresentation.

 

     

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(d) Survival Regardless of Investigation.
The indemnification and contribution provided for in this Section 1 will remain in full force and effect regardless of any
investigation made by or on behalf of the Indemnitee.

  

(e) Change in Control. The Company
agrees that if there is a Change in Control of the Company (other than a Change in Control which has been approved by a majority
of the Company’s Board of Directors who were directors immediately prior to such Change in Control) then, with respect to
all matters thereafter arising concerning the rights of Indemnitee to payments of Expenses under this Agreement, any other agreement
or under the Company’s Memorandum and Articles of Association, as amended (the “M&A”), Independent
Legal Counsel (as defined in Section 10(d) hereof) shall be selected by the Indemnitee and approved by the Company (which
approval shall not be unreasonably withheld). The Company agrees to abide by the determination of the Independent Legal Counsel
and to pay the reasonable fees of the Independent Legal Counsel referred to above and to fully indemnify such counsel against any
and all expenses (including attorneys’ fees), claims, liabilities and damages arising out of or relating to this Agreement
or its engagement pursuant hereto.

 

(f) Mandatory Payment of Expenses.
Notwithstanding any other provision of this Agreement, to the extent the Indemnitee has been successful on the merits or otherwise,
in the defense of any Claim referred to in Section 1(a) hereof or in the defense of any claim, issue or matter therein, the
Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee in connection herewith.

 

2. Expenses; Indemnification Procedure.

 

(a) Advancement of Expenses. Subject
to Section 8 and except as prohibited by applicable law, the Company shall advance all Expenses incurred by the Indemnitee
in connection with investigating, attempting to amicably resolve, preparing for, defending, settling or appealing any Claim to
which the Indemnitee is a party or is threatened to be made a party by reason of the fact that the Indemnitee is or was an Agent
of the Company or by reason of anything done or not done by him or her in any such capacity. The Indemnitee hereby undertakes to
promptly repay such amounts advanced only if, and to the extent that, it shall ultimately be determined that the Indemnitee is
not entitled to be indemnified by the Company under the provisions of this Agreement, the M&A, applicable law or otherwise.
The advances to be made hereunder shall be paid by the Company to the Indemnitee as soon as practicable but in any event no later
than thirty (30) days after written demand by the Indemnitee therefor to the Company.

 

(b) Notice/Cooperation by Indemnitee.
The Indemnitee shall give the Company notice in writing promptly after receipt of notice of commencement of any Claim, or the threat
of the commencement of any Claim, made against the Indemnitee for which indemnification will or could be sought under this Agreement.
Notice to the Company shall be directed to the Chief Executive Officer of the Company at the address shown on the signature page
of this Agreement (or such other person and/or address as the Company shall designate in writing to the Indemnitee).

 

(c) No Presumptions; Burden of Proof.
For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval)
or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that the Indemnitee did not
meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not
permitted by applicable law. In addition, neither the failure of the Reviewing Party to have made a determination as to whether
the Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual determination by the Reviewing
Party that Indemnitee had not met such standard of conduct or did not have such belief, prior to the commencement of legal proceedings
by the Indemnitee to secure a judicial determination that the Indemnitee should be indemnified under applicable law, shall be a
defense to the Indemnitee’s claim or create a presumption that the Indemnitee had not met any particular standard of conduct
or did not have any particular belief. In connection with any determination by the Reviewing Party or otherwise as to whether the
Indemnitee is entitled to be indemnified hereunder, the burden of proof shall be on the Company to establish that the Indemnitee
is not so entitled.

 

(d) Notice to Insurers. If, at
the time of the receipt by the Company of a notice of a Claim pursuant to Section 2(b) hereof, the Company has liability insurance
in effect which may cover such Claim, the Company shall give prompt written notice of the commencement of such Claim to the insurers
in accordance with the procedures set forth in each of the policies. The Company shall thereafter take all necessary or desirable
action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit, proceeding,
inquiry or investigation in accordance with the terms of such policies.

 

     

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(e) Selection of Counsel. In the
event the Company shall be obligated hereunder to pay the Expenses of any Claim, the Company shall be entitled to assume the defense
of such Claim, with legal counsel reasonably approved by the Indemnitee, upon the delivery to the Indemnitee of written notice
of its election to do so. After delivery of such notice, approval of such legal counsel by the Indemnitee and the retention of
such legal counsel by the Company, the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel
subsequently incurred by the Indemnitee with respect to the same Claim; provided that, (i) the Indemnitee shall have the right
to employ the Indemnitee’s legal counsel in any such Claim at the Indemnitee’s expense; (ii) the Indemnitee shall
have the right to employ its own legal counsel in connection with any such proceeding, at the expense of the Company, if such legal
counsel serves in a review, observer, advice and counseling capacity and does not otherwise materially control or participate in
the defense of such proceeding; and (iii) if (A) the employment of legal counsel by the Indemnitee has been previously
authorized by the Company, (B) the Indemnitee shall have reasonably concluded that there is a conflict of interest between
the Company and the Indemnitee in the conduct of any such defense, or (C) the Company shall not in fact continue to retain
such legal counsel to defend such Claim, then the fees and expenses of the Indemnitee’s legal counsel shall be at the expense
of the Company.

 

3. Additional Indemnification Rights;
Nonexclusively.

 

(a) Scope. The Company hereby agrees
to indemnify the Indemnitee to the fullest extent permitted by law (except as provided in Section 8) with respect to Claims
for Indemnification Events, even if such indemnification is not specifically authorized by the other provisions of this Agreement
or any other agreement, the M&A, or by statute. In the event of any change after the date of this Agreement in any applicable
law, statute or rule which expands the right of a Cayman Islands company to indemnify a member of its Board of Directors or an
officer, it is the intent of the parties hereto that the Indemnitee shall enjoy by this Agreement the greater benefits afforded
by such change. In the event of any change in any applicable law, statute or rule which narrows the right of a Cayman Islands company
to indemnify a member of its Board of Directors or an officer, such change, to the extent not otherwise required by such law, statute
or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties’ rights and obligations hereunder
except as set forth in Section 8 hereof.

 

(b) Nonexclusively. Notwithstanding
anything in this Agreement, the indemnification provided by this Agreement shall be in addition to any rights to which the Indemnitee
may be entitled under the M&A, any agreement, any vote of shareholders or disinterested directors, the laws of the Cayman Islands,
or otherwise. Notwithstanding anything in this Agreement, the indemnification provided under this Agreement shall continue as to
the Indemnitee for any action the Indemnitee took or did not take while serving in an indemnified capacity even though such Indemnitee
may have ceased to serve in such capacity and such indemnification shall inure to the benefit of the Indemnitee from and after
the Indemnitee’s first day of service as a director or officer with the Company.

 

4. No Duplication of Payments. The
Company shall not be liable under this Agreement to make any payment in connection with any Claim made against the Indemnitee to
the extent the Indemnitee has otherwise actually received payment (under any insurance policy, M&A or otherwise) of the amounts
otherwise indemnifiable hereunder.

 

5. Partial Indemnification. If the
Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for any portion of Expenses incurred
in connection with any Claim, but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify the
Indemnitee for the portion of such Expenses to which the Indemnitee is entitled.

 

6. Mutual Acknowledgement. The Company
and the Indemnitee acknowledge that in certain instances, applicable law or public policy may prohibit the Company from indemnifying
its directors, officers, employees, controlling persons, agents or fiduciaries under this Agreement or otherwise.

 

7. Liability Insurance. To the extent
the Company maintains liability insurance applicable to directors and officers, the Company shall use commercially reasonable efforts
to provide that the Indemnitee shall be covered by such policies in such a manner as to provide the Indemnitee the same rights
and benefits as are accorded to the most favorably insured of the Company’s directors and officers.

 

     

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8. Exceptions. Any other provision
herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

(a) Claims Under Section 16(b).
To indemnify the Indemnitee for expenses and the payment of profits or an accounting thereof arising from the purchase and sale
by the Indemnitee of securities in violation of the provisions of Section 16(b) of the U.S. Securities Exchange Act of 1934,
as amended (the “Exchange Act”), or any similar provisions of any international, federal, state or local statutory
law;

 

(b) Unauthorized Settlements. To
indemnify the Indemnitee hereunder for any amounts paid in settlement of a proceeding unless the Company consents in advance in
writing to such settlement, which consent shall not be unreasonably withheld;

 

(c) Unlawful Indemnification. To
indemnify the Indemnitee if a final decision by a court having jurisdiction in the matter shall determine that such indemnification
is not lawful. In this respect, the Company and the Indemnitee have been advised that the U.S. Securities and Exchange Commission
takes the position that indemnification for liabilities arising under securities laws is against public policy and is, therefore,
unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication;

 

(d) Fraud. To indemnify the Indemnitee
if a final decision by a court having jurisdiction in the matter shall determine that the Indemnitee has committed fraud on the
Company;

 

(e) Insurance. To indemnify the
Indemnitee for which payment is actually and fully made to the Indemnitee under a valid and collectible insurance policy; or

 

(f) Company Contracts. To indemnify
the Indemnitee with respect to any Claim related to any dispute or breach arising under any contract or similar obligation between
the Company and the Indemnitee.

 

9. Period of Limitations. No legal
action shall be brought and no cause of action shall be asserted by or in the right of the Company against the Indemnitee, the
Indemnitee’s estate, spouse, heirs, executors or personal or legal representatives after the expiration of five (5) years
from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed
released unless asserted by the timely filing of a legal action within such five (5) year period; provided, however, that
if any shorter period of limitations is otherwise applicable to any such cause of action, such shorter period shall govern.

 

10. Construction of Certain Phrases.

 

(a) For purposes of this Agreement, references
to the “Company” shall include, in addition to the resulting corporation, any constituent corporation (including
any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have
had power and authority to indemnify its directors and officers, so that if the Indemnitee is or was or may be deemed a director
or officer of such constituent corporation, or is or was or may be deemed to be serving at the request of such constituent corporation
as a director or officer of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise,
the Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving
corporation as the Indemnitee would have with respect to such constituent corporation if its separate existence had continued.

 

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

 

     

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(c) For purposes of this Agreement a “Change
in Control” shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d)(3)
and 14(d)(2) of the Exchange Act), other than a trustee or other fiduciary holding securities under an employee benefit plan of
the Company or a corporation owned directly or indirectly by the shareholders of the Company in substantially the same proportions
as their ownership of stock of the Company, becomes the “beneficial owner” (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Company representing more than thirty percent (30%) of the total
voting power represented by the Company’s then outstanding Voting Securities, (ii) during any period of two (2) consecutive
years, individuals who at the beginning of such period constitute the Board of Directors of the Company and any new director whose
election by the Board of Directors or nomination for election by the Company’s shareholders was approved by a vote of at
least a majority of the directors then still in office who either were directors at the beginning of the period or whose election
or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the
shareholders of the Company approve a merger or consolidation of the Company with any other corporation other than a merger or
consolidation which would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least two-thirds (2/3) of
the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation, or (iv) the shareholders of the Company approve a plan of complete liquidation of the Company
or an agreement for the sale or disposition by the Company of (in one transaction or a series of transactions) all or substantially
all of the Company’s assets; provided that in no event shall a Change in Control be deemed to include (A) a merger,
consolidation or reorganization of the Company for the purpose of changing the Company’s state of incorporation and in which
there is no substantial change in the shareholders of the Company or its successor (as the case may be), or (B) the Company’s
first firm commitment underwritten public offering of any of its securities to the general public pursuant to (x) a registration
statement filed under the Securities Act, or (y) the securities laws applicable to an offering of securities in another jurisdiction
pursuant to which such securities will be listed on an internationally recognized securities exchange (the “IPO”).

 

(d) For purposes of this Agreement, “Independent
Legal Counsel” shall mean an attorney or firm of attorneys, selected in accordance with the provisions of Section 1(e)
hereof, who shall not have otherwise performed services for the Company or the Indemnitee within the last two (2) years (other
than with respect to matters concerning the right of the Indemnitee under this Agreement).

 

(e) For purposes of this Agreement, a
“Reviewing Party” shall mean any appropriate person or body consisting of a member or members of the Company’s
Board of Directors (other than the Indemnitee who is a director) or any other person or body appointed by the Board of Directors
who is not a named party to the particular Claim for which Indemnitee is seeking indemnification, or Independent Legal Counsel.

 

(f) For purposes of this Agreement, “Voting
Securities” shall mean any securities of the Company that vote generally in the election of directors.

 

11. Counterparts. This Agreement
may be executed in one or more counterparts, each of which shall constitute an original.

 

12. Binding Effect; Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective
successors, assigns, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially
all of the business and/or assets of the Company, spouses, heirs, and personal and legal representatives. The Company shall require
and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all,
or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance reasonably satisfactory
to the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company
would be required to perform if no such succession had taken place. This Agreement shall continue in effect with respect to Claims
relating to Indemnifiable Events regardless of whether the Indemnitee continues to serve as a director or officer of the Company
or of any other enterprise, including subsidiaries of the Company, at the Company’s request.

 

13. Attorneys’ Fees. Subject
to Section 8 and except as prohibited by applicable law, in the event that any action is instituted by the Indemnitee under
this Agreement or under any liability insurance policies maintained by the Company to enforce or interpret any of the terms hereof
or thereof, the Indemnitee shall be entitled to be paid all Expenses actually and reasonably incurred by the Indemnitee with respect
to such action if the Indemnitee is ultimately successful in such action. In the event of an action instituted by or in the name
of the Company under this Agreement to enforce or interpret any of the terms of this Agreement, the Indemnitee shall be entitled
to be paid Expenses actually and reasonably incurred by the Indemnitee in defense of such action (including costs and expenses
incurred with respect to the Indemnitee counterclaims and cross-claims made in such action), and shall be entitled to the advancement
of Expenses with respect to such action, in each case only to the extent that the Indemnitee is ultimately successful in such action.

 

     

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14. Notice. All notices and other
communications required or permitted hereunder shall be in writing, shall be effective when given, and shall in any event be deemed
to be given (a) five (5) days after deposit with the U.S. Postal Service or other applicable postal service, if delivered
by first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one (1) business day after the
business day of deposit with Federal Express or similar overnight courier, freight prepaid, or (d) one (1) day after
the business day of delivery by facsimile transmission, with a copy thereof delivered by first class mail, postage prepaid. Any
mail shall be directed, if addressed to the Indemnitee, at his or her address as set forth beneath his or her signature to this
Agreement and, if to the Company, at the address of its principal corporate offices (attention: Chief Executive Officer), or at
such other address as such party may designate by ten (10) days’ advance written notice to the other party hereto.

 

15. Severability. The provisions
of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a single section,
paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, and the remaining
provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions
of this Agreement (including, without limitations, each portion of this Agreement containing any provision held to be invalid,
void or otherwise unenforceable, that is not itself invalid, void or unenforceable) shall be construed so as to give effect to
the intent manifested by the provision held invalid, illegal or unenforceable.

 

16. Choice of Law. This Agreement
shall be governed by and its provisions construed and enforced in accordance with the laws of the State of New York, as applied
to contracts between California residents entered into and to be performed entirely within the State of New York, without regard
to the conflict of laws principles thereof.

 

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

 

18. Amendment and Termination. No
amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in writing signed by the
parties to be bound thereby. Notice of same shall be provided to all parties hereto. No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver.

 

19. No Construction as Employment Agreement.
Nothing contained in this Agreement shall be construed as giving the Indemnitee any right to be retained in the employment or service
of the Company or any of its subsidiaries or affiliated entities.

 

20. Corporate Authority. The Board
of Directors of the Company and its shareholders in accordance with Cayman Islands law have approved the terms of this Agreement.

 

[The remainder of this page is intentionally
left blank.] 

 

     

    8

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Indemnification Agreement on and as of the day and year first above written.

	 	 	 
	COMPANY:	
        Kaixin Auto Holdings

        a Cayman Islands exempted company

	 	 	 
	 	By:	
 

	 	Name:	 
	 	Title:	 
	 	 	 
	INDEMNITEE:	 	 
	 	 
	 	
 

	 	 	 
	 	Name:	 
	 	 	 
	 	Address:

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