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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 15, 2024
IVANHOE
ELECTRIC INC.
(Exact name of registrant
as specified in its charter)
Delaware |
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001-41436 |
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32-0633823 |
(State or other jurisdiction of
incorporation or organization) |
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(Commission
File Number) |
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(I.R.S. Employer
Identification No.) |
450
E Rio Salado Parkway, Suite 130
Tempe, Arizona |
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85281 |
(Address of principal executive offices) |
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(Zip Code) |
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Registrant’s telephone number, including
area code: (480) 656-5821
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the
Act:
Title
of each class |
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Trading
Symbol(s) |
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Name
of each exchange on which
registered |
Common
Stock, par value $0.0001 per share |
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IE |
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NYSE
American |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01. Entry into a Material Definitive
Agreement.
On October 15, 2024, VRB Energy, Inc. (“VRB
Energy”), a 90% owned subsidiary of Ivanhoe Electric Inc. (the “Company”), signed definitive agreements pursuant to
the Term Sheet previously disclosed in the Company’s Form 8-K filed on September 23, 2024 providing for the creation of a 51%/49%
joint venture (the “Transaction”) between VRB Energy and China Energy Storage Industry Co., Ltd. (“Red Sun”),
a subsidiary of Shanxi Red Sun Co., Ltd., pending certain conditions precedent, with closing of the Transaction expected to occur by the
end of October 2024. The purpose of the joint venture is to manufacture and sell vanadium redox flow battery systems with a market focus
in Asia, the Middle East, and Africa.
The definitive agreements include i) a Purchase,
Sale and Investment Agreement by and among VRB Energy, VRB Energy System (Beijing) Co., Ltd., a wholly-owned subsidiary of VRB Energy
("VRB China" or the "Joint Venture") and Red Sun (the “Purchase Agreement”), ii) a VRB China Joint Venture
Agreement by and among the Joint Venture, VRB Energy and Red Sun (the “Joint Venture Agreement”) and iii) a Cooperation Agreement
by and among the Joint Venture, Red Sun, VRB Energy and VRB Energy USA, Inc. (“VRB USA”) (the “Cooperation Agreement”
and together with the Purchase Agreement and the Joint Venture Agreement, the “Agreements”).
The Purchase Agreement provides for Red Sun's
purchase of shares in the Joint Venture from VRB Energy for $20 million in cash payable in two equal tranches, the first of which will
be paid at the closing of the Transaction and the second of which will be paid by no later than June 30, 2025, and the increase in the
Joint Venture's share capital through Red Sun's subscription of the Chinese Renminbi equivalent of $35 million in a series of payments
through the end of 2025, approximately $12.5 million of which will be paid at the closing of the Transaction. Upon closing of the Transaction,
Red Sun will own 51% of the Joint Venture and VRB Energy will own 49% of the Joint Venture. If the remaining payments are not made according
to their parties agreed-upon schedule, Red Sun will transfer to VRB Energy a portion of its interest in the Joint Venture proportionate
to the unpaid amount.
The Joint Venture Agreement provides for funding
of the Joint Venture after the Transaction to be pro rata and subject to a customary dilution formula. Pursuant to the Joint Venture Agreement,
certain matters may not be taken by the Joint Venture, its Board of Directors (the “Board”), any of its directors, or any
of its officers in the name or on behalf of the Joint Venture, without the affirmative vote or consent of the shareholder holding, or
the shareholders collectively holding, at least two-thirds (2/3) of the equity interest. The Board will be set at six directors, with
two nominees from VRB Energy. So long as VRB Energy owns 20% of the share capital of the Joint Venture, it shall be entitled to designate
two of six directors on the Board. From the date that VRB Energy has less than 20% of the share capital of the Joint Venture but more
than 10%, it shall be entitled to designate only one of six directors. Should VRB Energy come to own less than 10% of the share capital
of the Joint Venture, it shall not be entitled to designate any nominees on the Board. Subject to certain exceptions, the Board shall
operate by majority vote.
The Cooperation Agreement provides for certain
allocations of business opportunities, supply arrangements, technical assistance and intellectual property arrangements as between the
businesses of the Joint Venture and VRB USA, a wholly-owned subsidiary of VRB Energy being established as a separate United States-based
vanadium redox battery business.
The foregoing summary of the Agreements does not
purport to be a complete description of the Agreements and is qualified in its entirety by reference to the full text of the Agreements,
copies of which are attached hereto as Exhibit 10.1, 10.2 and 10.3, and incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
A copy of the Company’s press release dated
October 15, 2024, relating to the announcement of the execution of the Agreements, is furnished as Exhibit 99.1 to this Form 8-K.
The information contained in this Item 7.01 and
Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference
into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference
in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
## Certain schedules or portions thereof are omitted
pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to provide on a supplemental basis a copy of any omitted schedule to
the U.S. Securities and Exchange Commission or its staff upon request.
Forward-Looking Statements
The Company cautions
you that statements included in this Current Report on Form 8-K that are not a description of historical facts are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty, including statements
regarding the proposed creation of the joint venture in respect of VRB China in the Transaction, the establishment of VRB USA, and the
other matters contemplated by the Agreements. In some cases, you can identify these statements by forward-looking words such as “may,”
“might,” “could,” “should,” “would,” “achieve,” “budget,” “scheduled,”
“forecasts,” “expects,” “plans,” “anticipates,” “believes,” “estimates,”
“predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology.
These forward-looking statements may include projections of our future financial performance, our anticipated growth strategies and anticipated
trends in our industry. Forward-looking statements are based on management’s current expectations and are subject to a number of
risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All
forward-looking statements speak only as of the date on which they are made. These statements are not guarantees of future performance
and involve certain risks, uncertainties and assumptions concerning future events that are difficult to predict. Therefore, actual future
events or results may differ materially from these statements. We believe that the factors that could cause our actual results to differ
materially from those expressed or implied by forward-looking statements include the following: we and Red Sun may not successfully obtain
all necessary regulatory and third party approvals and satisfy other applicable conditions to the transactions contemplated herein; the
Transaction may not close on the timeline anticipated, or at all; we and VRB China may not receive all of the payments called for by the
Agreements; and such payments may not be applied in the manner currently anticipated; our mineral projects are all at the exploration
stage and are subject to the significant risks and uncertainties associated with mineral exploration; the initial assessment for our Santa
Cruz Project is only an early stage study of its potential economic viability and future studies and actual economic outcomes may vary
greatly from those set forth in the initial assessment; we have no mineral reserves, other than at the San Matias project; we have a limited
operating history on which to base an evaluation of our business and prospects; we depend on our material projects for our future operations;
our mineral resource and reserve calculations and economic projections relating to our properties are only estimates; actual capital costs,
operating costs, production and economic returns at any future mine may differ significantly from those we have anticipated or projected;
the title to some of the mineral properties may be uncertain or defective; our business is subject to changes in the prices of copper,
gold, silver, nickel, cobalt, vanadium and platinum group metals; we have claims and legal proceedings against one of our subsidiaries;
our business is subject to significant risk and hazards associated with future mining operations; we may fail to identify attractive acquisition
candidates or joint ventures with strategic partners or be unable to successfully integrate acquired mineral properties; we may fail to
successfully manage joint ventures and are reliant on our joint venture partners to comply with their obligations; our business is extensively
regulated by the United States and foreign governments as well as local governments; the requirements that we obtain, maintain and renew
environmental, construction and mining permits are often a costly and time-consuming process; our non-U.S. operations are subject to additional
political, economic and other uncertainties not generally associated with domestic operations; and our activities may be hindered, delayed
or have to cease as a result of climate change effects, including increased and excessive heating and the potential for forest fires at
many of our properties. You should carefully consider these risks, as well as the additional risks described in other documents we file
with the SEC. We also operate in a very competitive and rapidly changing industry. New risks emerge from time to time and it is not possible
for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor,
or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements.
We disclaim any obligation to update such forward-looking statements, except as required by law.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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IVANHOE ELECTRIC INC. |
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Date: October 15, 2024 |
By: |
/s/ Taylor Melvin |
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Taylor Melvin |
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President and Chief Executive Officer |
Exhibit 10.1
PURCHASE, SALE AND INVESTMENT AGREEMENT
购买、销售和投资协议
THIS PURCHASE, SALE AND INVESTMENT
AGREEMENT (this “Agreement”), is made as of October 15, 2024 (the “Execution Date”), by and
among VRB Energy Inc., a corporation existing under the laws of the Cayman Islands (the “VRB Cayman”), VRB Energy
System (Beijing) Co., Ltd., a wholly foreign-owned enterprise also known as Pu Neng (Beijing) Energy Technology Co., Ltd. and
registered in Beijing, PRC and existing under the laws of the PRC (“VRB China”, and together with VRB Cayman, each
a “Seller Party” and collectively, the “Seller Parties”), and China Energy Storage Industry Co., Ltd.,
a company registered in Beijing, PRC and existing under the laws of the PRC (“Purchaser”). Purchaser and each Seller
Party are collectively the “Parties” and each individually a “Party.”
本购买、销售和投资协议(本“协议”)于2024年10月15日(“签署日”)由以下各方签署:VRB
Energy Inc.,一家根据开曼群岛法律成立的公司(“VRB开曼”),VRB
Energy System (Beijing) Co., Ltd.,也称普能(北京)能源科技有限公司,一家在中国北京注册并根据中国法律成立的外商独资企业(“VRB中国”,与VRB开曼均单独称为“卖方”,统称为“卖方全体”),以及中能储实业有限公司,一家在中国北京注册并根据中国法律成立的公司(“买方”)。买方和各卖方统称为“各方”,单独称为“一方”。
WHEREAS, VRB Cayman owns
100% of the equity interests in VRB China;
鉴于,VRB开曼持有VRB中国100%的股权;
WHEREAS, subject to the terms
and conditions set forth in this Agreement, Purchaser desires to (1) purchase from VRB Cayman, and VRB Cayman desires to sell to Purchaser
RMB 164,801,923.08 registered capital of VRB China (the “Transferred Interests”), representing 27.3077% of equity
interests in VRB China as of the Execution Date (the “Equity Transfer”) for a purchase price of USD 20,000,000 (the
“Purchase Price”), (2) as part of the Equity Transfer, purchase unpaid registered capital of RMB 95,698,076.92 from
VRB Cayman for zero (0) consideration, i.e., obtaining the right to make capital contribution for that portion of equity interests, (3)
invest a sum of RMB 249,734,693.88 in VRB China to (i) subscribe for newly issued RMB 96,500,000.00 registered capital and (ii) pay the
capital contribution for the transferred equity interests, transferred right to make capital contribution and the contributed equity
interests (the “Capital Increase”), as a result of which Purchaser will obtain RMB 357,000,000 registered capital
of VRB China, and VRB China will be owned 51% by Purchaser (the “Target Equity”) and 49% by VRB Cayman;
鉴于,在本协议条款和条件的约束下,买方希望(1)从VRB开曼购买,且VRB开曼希望向买方出售VRB中国的人民币164,801,923.08元的注册资本(以下简称“转让权益”),对应截至签署日VRB中国27.3077%的股权(以下简称“股权转让”),购买价格为20,000,000美元(以下简称“购买价款”),(2)作为股权转让的一部分,0对价受让VRB开曼未实缴注册资本人民币95,698,076.92元,即受让该部分股权的出资权,(3)向VRB中国投资人民币249,734,693.88元用于(i)认购新增注册资本人民币96,500,000.00元并且(ii)完成所有受让股权、受让出资权以及出资股权部分的实缴(以下简称“增资”)。前述股权转让及增资完成后买方将由此获得VRB中国人民币357,000,000元的注册资本,从而使得VRB中国的股权将由买方拥有51%(以下简称“目标股权”),由VRB开曼拥有49%。
NOW, THEREFORE, in consideration
of the above premises and of the mutual covenants, conditions and agreements set forth herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:
兹据上述前提及本协议所述之各项互约、条件和协议,以及其他良好且有价值的对价,其收取及充分性特此确认,各方有意接受法律约束,特此同意如下:
Article I
definitions
第一条
定义
The following terms have
the following meanings as used in this Agreement:
本协议中使用的下列术语具有下列含义:
“Affiliate”
means, with respect to any specified Person, any other Person who, directly or indirectly, Controls, is Controlled by, or is under common
Control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of such Person,
or any venture capital fund or investment fund now or hereafter existing that is controlled by one or more general partners, managing
members or investment advisers of, or shares the same management company or investment adviser with, such Person.
“关联方”就任何特定人士而言,是指直接或间接控制该人士、受该人士控制或与该人士受共同控制的任何其他人士,包括但不限于该人士的任何一般合伙人、管理成员、高级职员、董事或受托人,或现在或以后存在的、受该人士的一个或多个一般合伙人、管理成员或投资顾问控制或与该人士共享同一管理公司或投资顾问的任何风险投资基金或投资基金。
“AMR”means
the Administration of Market Regulation of the PRC and/or its local counterparts, as applicable.
“AMR”
指中国市场监督管理总局及/或其当地分支(按适用情形)。
“Business”
means the vanadium redox flow battery systems business as conducted by VRB China as of the Execution Date.
“业务”指
VRB中国截至签署日开展的全钒液流电池系统业务。
“Business Day”
means any day except Saturday, Sunday, or any other day on which commercial banks in Beijing, PRC are authorized or required by law to
be closed for business.
“工作日”指除星期六、星期日或中国北京市的商业银行依法被授权或要求停止营业的其他日子以外的任何一天。
“China ETA”
means an Equity Transfer and Capital Increase Agreement in the form attached hereto as Exhibit D to be executed and delivered
on the Execution Date by and among VRB China, VRB Cayman, and Purchaser that needs to be filed with the competent Governmental Authority
in China in order to effect the Equity Transfer and Capital Increase.
“中国ETA”
指由VRB中国、VRB开曼和买方之间于签署日签署、交付的、如本协议附件D形式所示的股权转让及增资协议,该协议需向中国主管政府机关备案以实现股权转让及增资。
“Cooperation Agreement”
means a Cooperation Agreement in the form attached hereto as Exhibit B to be executed and delivered on the Execution Date
by and among VRB China, VRB Cayman, Purchaser, and VRB USA.
“
《合作协议》”指由VRB中国、VRB开曼、买方和
VRB美国于签署日签署并交付的、以本协议附件
B形式附随的合作协议。
“Control”
means, with respect to a Person, the power or authority, whether exercised or not, to direct the business, management and policies of
such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; provided, that such
power or authority shall conclusively be presumed to exist upon possession of beneficial ownership or power to direct the vote of more
than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control
the composition of a majority of the board of directors of such Person. The terms “Controlled” and “Controlling”
have meanings correlative to the foregoing.
“控制”,就某一人士而言,指直接或间接决定该人士经营、管理和政策的权力或授权,无论是否行使,无论是否通过拥有有投票权的证券、通过合同约定或以其他方式;但在拥有受益所有权或有权在该人士成员或股东会上指导百分之五十(50%)以上有表决权的票数或有权控制该人士董事会大多数成员组成时,应最终推定存在该等权力或授权。“受控制”及该词在英文文本中的其他动词形态应具有上述相关含义。
“Encumbrance”
means all mortgages, claims, charges, liens, encumbrances, easements, restrictions, options, pledges, calls, commitments, security interests,
and any other restrictions of any kind whatsoever (excluding the covenants, obligations, and restrictions in the Transaction Agreements).
“权利负担”
指所有的抵押、索赔、押记、留置权、负担、地役权、限制、选择权、质押、强买权、承诺、担保权益以及其他任何形式的限制(不包括交易协议中的契约、义务和限制)。
“Governmental Authority”
means (i) any national, state, regional, county, city, municipal or local government, whether foreign or domestic, (ii) governmental
or quasi-governmental authority of any nature, including any regulatory or administrative agency, commission, department, board, bureau,
court, tribunal, arbitrator, arbitral body, agency, branch, official entity or other administrative or regulatory body obtaining authority
from any of the foregoing, including courts, public utilities, sewer authorities and any supra-national organization, state, county,
city or other political subdivision, or (iii) any other Person, exercising or entitled to exercise, any administrative, executive,
judicial, legislative, police, regulatory or taxing authority or power of any nature.
“政府机关”指(i)任何国家、州、地区、县、市、市政或地方政府,不论是外国政府还是国内政府,(ii)任何性质的政府或准政府机关,包括任何监管或行政机构、委员会、部门、董事会、局、法院、法庭、仲裁员、仲裁机构、代理机构、分支机构、官方实体或从上述任何机构获得权力的其他行政或监管机构,包括法院、公共事业、污水处理部门和任何超国家组织、州、县、市或其他政治分支机构,或
(iii)行使或有权行使任何性质的管理、行政、司法、立法、警察、监管或税收职权或权力的任何其他人士。
“IE Beijing”
means Ivanhoe Electric Technology (Beijing) Co., Ltd., a company registered in Beijing, PRC and existing under the laws of the PRC
and an Affiliate of VRB Cayman.
“IE北京”指艾芬豪电气技术(北京)有限公司,该公司在中国北京注册成立,依照中国法律存续,是VRB开曼的关联方。
“Indebtedness”
means, without duplication, as of any particular time, (i) the amount of all indebtedness for borrowed money of VRB China and its
Subsidiaries (including any unpaid principal, premium, accrued and unpaid interest, related expenses, prepayment penalties, commitment
and other fees, reimbursements, indemnities and all other amounts payable in connection therewith), (ii) Liabilities of VRB China
and its Subsidiaries evidenced by bonds, debentures, notes, or other similar instruments or debt securities, (iii) Liabilities of
VRB China and its Subsidiaries to pay the deferred purchase price of property or services other than trade payables incurred in the ordinary
course of business consistent with past practice, (iv) all Liabilities of VRB China and its Subsidiaries arising out of interest
rate and currency swap arrangements and any other arrangements designed to provide protection against fluctuations in interest or currency
rates, (v) any deferred purchase price Liabilities related to past acquisitions of VRB China or any of its Subsidiaries, (vi) all
indebtedness in the nature of guarantees of the obligations of other Persons described in the immediately preceding clauses (i) through
(v).
“债务”指在任何特定时间,不重复地,(i)VRB中国及其附属公司的所有借款债务金额(包括任何未付本金、溢价、应计及未付利息、相关费用、预付罚金、承诺费及其他费用、偿付款、赔偿金以及与此相关的所有其他应付款项),(ii)VRB中国及其附属公司以债券、债权、票据或其他类似票据或债务证券为凭证的负债,(iii)VRB中国及其子公司为支付财产或服务的递延购买价格而产生的负债,但在正常业务过程中按照以往惯例产生的应付账款除外;(iv)VRB中国及其子公司因利率和货币互换安排以及旨在提供利率或货币波动保护的任何其他安排而产生的所有负债;(v)与VRB中国或其任何子公司过去的收购相关的任何递延收购价格负债,(vi)为紧接前面第(i)至(v)项所述其他人士的债务提供担保性质的所有债务。
“Intellectual Property”
means any of the following: (i) trademarks, service marks, trade names, and similar indicia of source or origin, all registrations
and applications for registration thereof, and the goodwill connected with the use of and symbolized by the foregoing; (ii) copyrights
and all registrations and applications for registration thereof; (iii) trade secrets and know-how; (iv) patents and patent
applications; (v) internet domain name registrations; and (vi) other intellectual property and related proprietary rights.
“知识产权”指以下任何一项:(i)商标、服务标记、商业名称和类似的来源或原产地标记、所有注册和注册申请、以及与使用前述内容有关并由前述内容象征的商誉;(ii)著作权以及所有注册和注册申请;(iii)商业秘密和专有技术;(iv)专利和专利申请;(v)互联网域名注册;以及(vi)其他知识产权和相关专有权利。
“Joint Venture Agreement”
means a Joint Venture Agreement in the form attached hereto as Exhibit A to be executed and delivered on the Execution Date
by and among VRB China, VRB Cayman, and Purchaser.
“
《合资协议》”指VRB 中国、VRB
开曼和买方于签署日签署并交付的、以本协议附件
A形式附随的合资协议。
“Knowledge,”
including the phrase “to the Seller Parties’ Knowledge,” means the actual knowledge of any officer of VRB China.
“知识”,包括“据卖方全体所知”一词,指VRB中国任何高级职员的实际知识。
“Law”
means all applicable federal, state, local, municipal, tribal and foreign laws (statutory or common), rules, ordinances, regulations,
grants, concessions, franchises, licenses, orders, directives, judgments, decrees, and other governmental restrictions, including permits
and other similar requirements, whether legislative, municipal, administrative or judicial in nature applicable to the Parties.
“法律”是指所有适用的联邦、州、地方、市、部落和外国法律(成文法或普通法)、规则、法令、法规、批准、特许权、特许经营权、许可证、命令、指令、判决、法令和其他政府限制,包括许可和其他类似要求,无论是立法、市、行政还是司法性质的,均适用于各方。
“Liabilities”
means liabilities, debts or other obligations of any nature, whether known or unknown, absolute, accrued, contingent, liquidated, unliquidated
or otherwise, due or to become due or otherwise, and whether or not required to be reflected on a balance sheet prepared in accordance
with PRC GAAP.
“负债”是指任何性质的负债、债务或其他义务,不论其为已知或未知、绝对、应计、或有、已清算、未清算或其他、到期或将到期或其他,也不论是否需要反映在根据中国公认会计准则编制的资产负债表中。
“Material Adverse
Effect” means any event, occurrence, fact, condition or change that is, or could reasonably be expected to become, individually
or in the aggregate, materially adverse to (a) the business, results of operations, condition (financial or otherwise) or assets
of the Business, (b) the value of the Target Equity, or (c) the ability of the Seller Parties to consummate the transactions
contemplated hereby; provided, however, that “Material Adverse Effect” shall not include any event, occurrence, fact, condition
or change, directly or indirectly, arising out of or attributable to: (i) general economic or political conditions; (ii) conditions
generally affecting the industry in which the Business operates; (iii) any changes in financial or securities markets in general;
(iv) acts of war (whether or not declared), armed hostilities or terrorism, or the escalation or worsening thereof; (v) any
action required or permitted by this Agreement; (vi) any changes in applicable laws, regulations, or rules; or (vii) the public
announcement, pendency or completion of the transactions contemplated by this Agreement; provided further, however, that any event, occurrence,
fact, condition or change referred to in clauses (i) through (iii) immediately above shall be taken into account in determining
whether a Material Adverse Effect has occurred or could reasonably be expected to occur to the extent that such event, occurrence, fact,
condition or change has a disproportionate effect on the Business compared to other participants in the industry in which the Business
operates.
“重大不利影响”指任何事件、情况、事实、条件或变化,其单独或总体上对(a)企业的业务、经营成果、状况(财务或其他)或资产,(b)目标股权的价值,或(c)卖方全体完成本协议所述交易的能力造成重大不利影响,或可合理预期会造成重大不利影响;但是,“重大不利影响”不包括直接或间接由以下因素引起或可归因于以下因素的任何事件、情况、事实、条件或变化:(i)一般经济或政治条件;(ii)一般影响企业所在行业的条件;(iii)一般金融或证券市场的任何变化;(iv)战争行为(无论是否宣布)、武装敌对行为或恐怖主义行为,或此类行为的升级或恶化;(v)本协议要求或允许的任何行动;(vi)适用法律、法规或规则的任何变化;(vii)本协议所述交易的公开宣布、未决或完成;但是,在确定是否发生重大不利影响或是否可以合理预期发生重大不利影响时,应考虑上述第(i)至(iii)条中提及的任何事件、发生、事实、条件或变化
,只要该等事件、发生、事实、条件或变化对业务的影响与业务所处行业的其他参与者相比不成比例。
“Mutual Account”
means a bank account held with a bank in China that is selected and agreed upon by the Parties for their mutual benefit, with Purchaser
as the account holder and IE Beijing as the supervising party, and that requires the approval of an authorized representative from each
of Purchaser and IE Beijing to direct the bank to make transfers or withdrawals from the account.
“共同账户”指各方为共同利益而选定并同意在中国的一家银行开设的银行账户,以买方为账户持有人,IE北京为监督方,且该账户需要买方和IE北京各自一名授权代表的批准才能指示银行从该账户进行转账或提款。
“Mutual Account
Instructions” means joint written instructions in form and substance mutually agreed upon by the Parties, directing the bank
to transfer from the Mutual Account the first payment of the Purchase Price to VRB Cayman as provided in Section 2.6, but
only after Purchaser withholds and pays from the account the Withholding Taxes payable with respect to the transactions contemplated
by this Agreement as provided in Section 2.8 and the applicable stamp duties as provided in Section 2.9.
“共同账户指示”指各方以共同商定的形式和内容形成的联合书面指示,指示银行根据第2.6条的规定从共同账户中将首笔购买价款转给VRB开曼,但前提是买方根据第2.8条的规定从账户中预扣并支付与本协议所述交易有关的应付预扣税以及根据第2.9条的规定缴纳适用的印花税。
“Payment Schedule”
means the schedule of Purchase Price payments and Capital Increase payments to be made by Purchaser as set forth on Schedule I
attached hereto.
“付款时间表”指本协议附表I中规定的买方应支付的购买价款和增资款的时间表。
“Person”
means any individual, corporation, partnership, trust, limited liability company, association or other entity.
“人士”是指任何个人、公司、合伙、信托、有限责任公司、协会或其他实体。
“PRC”
means the People’s Republic of China.
“PRC”指中华人民共和国或中国。
“Related Party”
of any Person shall mean any director, five percent (5%) equity holder, or Affiliate of such Person, or of any of its Subsidiaries, or
any relative of such a director, equity holder, or Affiliate.
“相关方”指某人士或其任何子公司的任何董事、百分之五(5%)的股权持有人或关联方,或该董事、股权持有人或关联方的任何亲属。
“Subsidiary”
of any Person shall mean any corporation, partnership, limited liability company, or other organization or entity, whether incorporated
or unincorporated, which is directly or indirectly Controlled by such Person.
“子公司”指由某人士直接或间接控制的任何公司、合伙企业、有限责任公司或其他组织或实体(无论其是否注册)。
“Transaction Agreements”
means this Agreement, the Joint Venture Agreement, the Cooperation Agreement, the Transition Plan, and the China ETA.
“交易协议”指本协议、《合资协议》、《合作协议》、过渡计划和中国ETA。
“Transition Plan”
means the plan for transition of the Business in the form attached hereto as Exhibit C to be executed and delivered on the
Execution Date by and among VRB China, VRB Cayman, Purchaser, and VRB USA.
“过渡计划”指以本协议附件
C形式附随的业务过渡计划,该计划将由VRB中国、VRB开曼、买方和
VRB美国于签署日签署并交付。
“Withholding Tax”
means the non-resident enterprise income (capital gain) withholding tax as addressed by the competent PRC Governmental Authority.
“预扣税”指中国政府主管部门规定的非居民企业所得税(资本利得)预扣税。
“VRB USA”
means VRB Energy USA, Inc., a Delaware corporation and wholly-owned subsidiary of VRB Cayman.
“VRB美国”指VRB
Energy USA, Inc.,一家特拉华州公司,是VRB开曼的全资子公司。
Article II
Equity Transfer and Capital Increase
第二条
股权转让及增资
2.1. Equity
Transfer. Subject to the terms and conditions of this Agreement, effective as of the Control Acquisition Date, Purchaser hereby agrees
to purchase from VRB Cayman, and VRB Cayman hereby agrees to sell to Purchaser the Transferred Interests for the Purchase Price as the
consideration for the Equity Transfer. The Purchase Price shall be paid by Purchaser to VRB Cayman by wire transfer of immediately available
United States Dollars, with fifty percent (50%) paid from the Mutual Account as soon as lawfully possible following the Control Acquisition
Date as provided in Section 2.6, but only after Purchaser withholds and pays from the account the Withholding Taxes payable with
respect to the transactions contemplated by this Agreement as provided in Section 2.8 and the applicable stamp duties as provided
in Section 2.9, and the remaining portion of the Purchase Price shall be paid as set out on the Payment Schedule.
2.1. 股权转让。在遵守本协议条款和条件的情况下,自控制权取得日起,买方同意从VRB开曼购买,而VRB开曼同意向买方出售转让权益,购买价款为股权转让的对价。买方应通过电汇立即可用的美元向VRB开曼支付购买价款,其中百分之五十(50%)应根据第2.6条规定在控制权取得日后在法律允许的范围内尽快地从共同账户支付,但只有在买方按照第2.8条的规定从账户中预扣并支付了与本协议拟进行的交易有关的应付预扣税以及按照第2.9条的规定支付了适用的印花税之后才支付,购买价款的剩余部分按照付款时间表的规定支付。
2.2. Capital
Increase. Subject to the terms and conditions of this Agreement, upon the Control Acquisition Date, in addition to the Purchase
Price paid by the Purchaser to VRB Cayman pursuant to terms and conditions of this Agreement, Purchaser shall invest in VRB China a total
sum of TWO HUNDRED FORTY-NINE MILLION, SEVEN HUNDRED THIRTY-FOUR THOUSAND, SIX HUNDRED NINETY-THREE AND 88/100 RENMINBI (¥249,734,693.88)
to (i) subscribe for newly issued RMB 96,500,000.00 registered capital and (ii) pay the capital contribution for the transferred equity
interests, transferred right to make capital contribution and the contributed equity interests. The Capital Increase shall be paid by
Purchaser to VRB China by wire transfer of immediately available renminbi, with NINETY MILLION AND NO/100 RENMINBI (¥90,000,000.00)
paid prior to or on the Control Acquisition Date as provided in Section 2.5.2 and the remaining portion of the Capital Increase
paid as set out on the Payment Schedule. Purchaser, in its sole discretion, may prepay any portion of the Capital Increase without penalty
or interest, and any such prepayment will be applied to, and reduce, the subsequent Capital Increase payment obligations in chronological
order.
2.2. 增资。根据本协议的条款及条件,在控制权取得日,除向VRB开曼按照本协议约定支付购买价款外,买方应向VRB中国投资共计贰亿四千九百七十三万四千六百九十三元八角八分人民币(249,734,693.88元)用于(i)认购新增注册资本人民币96,500,000.00元并且(ii)完成所有受让股权、受让出资权以及出资股权部分的实缴。增资应由买方通过电汇立即可用的人民币支付给VRB中国,其中九千万元整人民币(¥90,000,000.00)应按照第2.5.2条的规定在控制权取得日之前或当日支付,增资的剩余部分按照付款时间表的规定支付。买方可自行决定预付增资的任何部分,而无须支付罚款或利息,任何该等预付款项将按时间顺序适用于和减少其后的增资付款义务。
2.3. Default
on Payments. In the event Purchaser fails to make payment of the remaining Purchase Price to VRB Cayman or any payment of
the remaining Capital Increase to VRB China, in each case as set out in the Payment Schedule and within five (5) days after notice
of such failure from VRB Cayman, then, to the extent permitted by applicable Law, Purchaser shall assign back to VRB Cayman a portion
of the equity interests in VRB China held by Purchaser based on the below table, with no additional consideration or further action required
from the Parties other than the filings required under applicable Law to record the changes in the ownership interests of VRB China’s
shareholders and the register of shareholders of VRB China as a result of such assignment. Purchaser shall promptly execute and deliver
such agreements, certificates, instruments, filings or other documents, and shall take all steps to fully and faithfully cooperate, as
VRB Cayman may request to complete any such assignment. The portion of equity interests in VRB China to be assigned back to VRB Cayman
in the event of Purchaser’s payment default as provided in this Section 2.3 shall be equal to the applicable percentage
of the total equity interests in VRB China that is set forth opposite the applicable payment requirement in the table on the following
page:
2.3. 付款违约。如果买方未能按照付款时间表的规定,在VRB开曼发出通知后五(5)天内,向VRB开曼支付剩余购买价款或向VRB中国支付任何剩余增资款项,则在
在适用法律允许的范围内,买方应立即根据下表立即将其持有的VRB中国的部分股权转让回VRB开曼,除根据适用法律的要求进行登记以记录因该转让而导致的VRB中国股东所有者权益和VRB中国股东名册的变更外,各方无需支付额外对价或采取进一步行动。买方应按VRB开曼的要求及时签署和交付此类协议、证书、文书、备案或其他文件,并应采取一切步骤进行全面和忠实地合作,以完成任何此类转让。在买方出现本第2.3条规定的付款违约情况时,VRB中国应转让回VRB开曼的股权比例应等于下页表格中与适用付款要求相对应的VRB中国总股权的适用百分比:
Remaining Purchase
Price or
Capital Increase Payment
剩余购买价款或
增资付款 |
%
Equity Assigned Back
(as a % of the total equity
interests of VRB China)
转回股权百分比(占
VRB
中国总股权的百分比) |
January 31,
2025 (Capital Increase)
2025年1月31日(增资) |
3.90% |
April 30,
2025 (Capital Increase)
2025年4月30日
(增资) |
6.50% |
June 30,
2025 (Capital Increase and Purchase Price)
2025年6月30日(增资及购买价款) |
9.22% |
July 31,
2025 (Capital Increase)
2025年7月31日(增资) |
2.60% |
October 31,
2025 (Capital Increase)
2025年10月31日(增资) |
2.60% |
December 31,
2025 (Capital Increase)
2025年12月31日(增资) |
5.16% |
In addition to the foregoing, Purchaser’s
failure to fulfill its payment obligations is an event of default under the Joint Venture Agreement and Cooperation Agreement, thereby
triggering certain additional default provisions as set forth therein.
除上述外,买方未能履行其付款义务构成《合资协议》和《合作协议》项下的违约事件,从而触发该些协议中规定的某些额外违约条款。
2.4. Execution
Date. On the Execution Date, concurrently with the execution of this Agreement, the Parties shall deliver the following to
each other:
2.4. 签署日。签署日当天,在签署本协议的同时,各方应相互交付下列文件:
a. The
Joint Venture Agreement, executed by each Party;
由每一方签署的《合资协议》;
b. The
Cooperation Agreement, executed by each Party and by VRB USA;
由每一方和VRB美国签署的《合作协议》;
c. The
Transition Plan, executed by each Party and by VRB USA;
由每一方和VRB美国签署的过渡计划;
d. The
China ETA, executed by each Party;
由每一方签署的中国
ETA;
e. The
Mutual Account Instructions, executed by a representative of each of Purchaser and IE Beijing that is authorized on the Mutual Account,
to be held in escrow by the Parties until they are released after the Control Acquisition Date in accordance with Section 2.6;
and
由买方和
IE北京各自授权的共同账户代表签署的共同账户指示,由各方代管,直至根据第2.6条的规定在控制权取得日后解除代管;以及
f. A
certificate of the secretary or an assistant secretary (or equivalent officer) of each Party certifying that attached thereto are true
and complete copies of all resolutions adopted by the board of directors (or similar company authority) of the Party authorizing the
execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby, and that all such
resolutions are in full force and effect and are all the resolutions adopted in connection with the transactions contemplated hereby.
每一方的秘书或助理秘书(或同级官员)的证明,证明随附的是该一方董事会(或类似的公司权力机构)通过的所有决议的真实完整副本,这些决议授权签署、交付和履行本协议以及完成本协议拟进行的交易,并且所有这些决议完全有效,是就本协议拟进行的交易通过的所有决议。
2.5. Control
Acquisition Date. Following the Execution Date, the Parties shall work together in good faith to complete the Equity Transfer and
Purchaser’s first payments of the Purchase Price and Capital Increase as contemplated herein. Purchaser shall become the holder
of the Target Equity on the first date following the Execution Date that all the steps set forth in Section 2.5.1 have been
completed to the Parties’ satisfaction (the “Control Acquisition Date”).
2.5. 控制权取得日。在签署日后,各方应本着诚信原则共同完成股权转让以及买方对本协议下的首笔购买价款和增资款的支付。签署日后,在第2.5.1条规定的所有步骤均已完成并令各方满意之日的第一天(“控制权取得日”),买方将成为目标股权的持有人。
2.5.1 Control
Acquisition Date Steps. On or before the Control Acquisition Date, the Parties shall complete the following steps:
2.5.1 控制权取得日步骤。在控制权取得日当天或之前,各方应完成以下步骤:
a. Purchaser
shall deposit fifty percent (50%) of the Purchase Price in the Mutual Account;
买方应将购买价款的百分之五十(50%)存入共同账户;
b. VRB
China shall de-register the existing capital contribution certificates of VRB China and issue new capital contribution certificates to
VRB Cayman and Purchaser evidencing the capital contributions made by each of VRB Cayman and Purchaser to VRB China as of the Control
Acquisition Date and the Equity Transfer;
VRB
中国应注销VRB中国现有的出资证明,并向
VRB开曼及买方签发新的出资证明,证明VRB开曼及买方各自于控制权取得日及股权转让时向VRB中国作出的出资;
c. The
Parties shall submit to the AMR for recording amended and restated Articles of Association of VRB China in form and substance that is
mutually agreed upon by them and consistent with the terms of the Joint Venture Agreement, and the AMR shall have approved such filings;
各方应向北京市海淀区市场监督管理局提交形式和内容经各方同意且与《合资协议》条款一致的修改及重述的VRB中国章程以供备案,且北京市海淀区市场监督管理局已批准此类备案;
d. The
Parties shall submit to the AMR for recording filings for changes in the ownership interests of VRB China’s shareholders and the
register of shareholders of VRB China reflecting Purchaser as the record holder of the Target Equity, and changes of VRB China’s
management team (including the directors of VRB China) in accordance with the Joint Venture Agreement, and the AMR shall have approved
such filings;
各方应根据《合资协议》的约定,向北京市海淀区市场监督管理局提交VRB中国的股东权益变更、反映买方为目标股权登记持有人的VRB中国股东名册以及VRB中国管理团队(包括VRB中国的董事)变更的备案,且该等备案应已获北京市海淀区市场监督管理局批准;
e. Purchaser
shall make the first payment of the Capital Increase to VRB China as set forth in Section 2.2;
f. 买方应按照第2.2条的规定向VRB中国支付第一笔增资;To
the extent all documents for Withholding Tax Filing are ready (provided the Parties cooperate with each other in good faith), the Parties
shall submit to the applicable Governmental Authority, including, without limitation, the tax bureau, commerce bureau, or foreign exchange
administration of the PRC, Withholding Tax Filing and such other documents or other information that such Governmental Authority shall
have requested with respect to the Equity Transfer or Capital Increase; and
在预扣税申报的所有文件准备就绪的情况下(前提是双方善意合作)各方应向相关政府机关(包括但不限于中国税务部门、商务部门或外汇管理部门)提交预扣税申报及该等政府机关就股权转让或增资要求的其他文件或其他信息;及
g. The
Parties shall submit to the commercial banks of VRB China and Purchaser filings as may be required by them under applicable regulatory
requirements.
各方应向VRB中国及买方的商业银行提交根据适用监管要求可能要求的备案文件。
2.5.2 Seller
Parties’ Conditions Precedent to Control Acquisition Date. Subject to the terms and conditions of this Agreement, the
Seller Parties’ obligations to complete the steps set forth in Section 2.5.1 are subject to the fulfillment or the
Seller Parties’ waiver, prior to or on the Control Acquisition Date, of each of the following conditions:
2.5.2 控制权取得日的卖方全体先决条件。根据本协议的条款和条件,卖方全体完成第2.5.1条所列步骤的义务取决于在控制权取得日之前或当天下列各项条件的完成或卖方全体的放弃:
a. No
Governmental Authority shall have enacted, issued, promulgated, enforced or entered any law, regulation, rule, or order which is in effect
and has the effect of making the transactions contemplated by this Agreement illegal, otherwise restraining or prohibiting consummation
of such transactions or causing any of the transactions contemplated hereunder to be rescinded following the Control Acquisition Date;
任何政府机关未曾制定、颁发、颁布、执行或订立任何有效的法律、法规、规则或命令,导致本协议项下的交易非法,或以其他方式限制或禁止此类交易的完成,或导致本协议项下的任何交易在控制权取得日后被撤销;
b. Except
for those described in Section 2.5.1, the Seller Parties shall have received all consents, approvals, permits, or governmental
orders, made all declarations or filings, and provided all notices as may be required in connection with, or as a result of, the transactions
contemplated by this Agreement;
除第2.5.1条所述外,卖方全体应已收到所有同意、批准、许可或政府命令,作出所有声明或备案,并提供与本协议所述交易有关的或由本协议所述交易导致的所有通知;
c. The
representations and warranties of Purchaser contained in Article IV shall be true and correct in all respects as of the Control
Acquisition Date with the same effect as though made at and as of such date (except those representations and warranties that address
matters only as of a specified date, which shall be true and correct in all respects as of that specified date); and
买方根据第四条所作的陈述和保证应于控制权取得日全部真实准确,并具有与在该日做出时相同的效力(只涉及特定日期事宜的陈述和保证除外,该等陈述和保证应于该特定日期全部真实准确);以及
d. Purchaser
shall have duly performed and complied in all material respects with all agreements, covenants and conditions required by this Agreement
or the Transition Plan to be performed or complied with by Purchaser prior to or on the Control Acquisition Date.
买方应在控制权取得日之前或当日,在所有实质层面履行和遵守本协议或过渡计划所要求买方履行或遵守的所有协议、契约和条件。
e. Purchaser
shall have executed and delivered to the Seller Parties a certificate dated as of the Control Acquisition Date certifying that the conditions
specified in this Section 2.5.2 have been fulfilled.
买方应签署并向卖方全体交付一份日期为控制权取得日的证书,证明本第2.5.2条规定的条件已得到满足。
2.5.3 Purchaser’s
Conditions Precedent. Subject to the terms and conditions of this Agreement, Purchaser’s obligations to complete the
steps set forth in Section 2.5.1 are subject to the fulfillment or Purchaser’s waiver, prior to or on the Control Acquisition
Date, of each of the following conditions:
2.5.3 买方的先决条件。根据本协议的条款和条件,买方完成第
2.5.1 条所述步骤的义务取决于以下各项条件在控制权取得日之前或当日是否得到满足或买方是否放弃:
a. No
Governmental Authority shall have enacted, issued, promulgated, enforced or entered any law, regulation, rule, or order which is in effect
and has the effect of making the transactions contemplated by this Agreement illegal, otherwise restraining or prohibiting consummation
of such transactions or causing any of the transactions contemplated hereunder to be rescinded following the Control Acquisition Date;
在控制权取得日之后,任何政府机关均未曾颁布、发布、颁布、执行或发布任何有效的法律、法规、规则或命令,使本协定拟进行的交易成为非法,或以其他方式限制或禁止此类交易的完成,或导致本协定拟进行的任何交易被撤销;
b. Except
for those described in Section 2.5.1, Purchaser shall have received all consents, approvals, permits, or governmental orders,
made all declarations or filings, and provided all notices as may be required in connection with, or as a result of, the transactions
contemplated by this Agreement;
除第
2.5.1 条所述者外,买方应已收到与本协议拟进行的交易有关或因其而可能需要的
所有同意、批准、许可或政府命令,作出所有相关声明或备案,并提供所有相关通知;
c. The
representations and warranties of the Seller Parties contained in Article III shall be true and correct in all respects as
of the Control Acquisition Date with the same effect as though made at and as of such date (except those representations and warranties
that address matters only as of a specified date, which shall be true and correct in all respects as of that specified date);
卖方全体根据第三条所作的陈述和保证应于控制权取得日全部真实准确,并具有与在该日做出的陈述和保证相同的效力(仅涉及特定日期事宜的陈述和保证除外,该等陈述和保证应在该特定日期全部真实准确;
d. The
Seller Parties shall have duly performed and complied in all material respects with all agreements, covenants and conditions required
by this Agreement or the Transition Plan to be performed or complied with by the Seller Parties prior to or on the Control Acquisition
Date;
卖方全体应控制权取得日之前或当日,在所有实质层面履行和遵守本协议或过渡计划所要求卖方全体履行或遵守的所有协议、契约和条件;
e. Except
as set forth in Section 3.3 of the Disclosure Schedule, all capital payment obligations from VRB Cayman to VRB China shall
have been paid in full;
除披露附表第
3.3 条规定的情况外,VRB开曼对VRB中国的所有资本支付义务均应已全额支付;
f. All
loans made by VRB Cayman to VRB China or its subsidiaries shall have been equitized in full;
VRB
开曼向VRB中国或其子公司提供的所有贷款均应已全额股份化
g. Since
September 23, 2024, except for trade debt incurred in the ordinary course of business, VRB China has not incurred any new financial Indebtedness
other than from VRB Cayman;
自
2024 年 9 月
23 日以来,除在正常业务过程中产生的贸易债务外,VRB
中国除来自 VRB 开曼公司的债务外,未产生任何新的金融债务;
h. Since
September 23, 2024, VRB China has not made any dividends or distributions to the shareholders of VRB China;
自
2024 年 9 月 23 日以来,VRB 中国未向VRB中国的股东派发任何股息或分红;
i. Since
September 23, 2024, the Seller Parties have kept Purchaser informed of all litigation proceedings regarding VRB China and have not
commenced any new litigation;
自
2024 年 9 月
23 日以来,卖方全体一直向买方通报有关
VRB 中国的所有诉讼程序,且未提起任何新的诉讼;
j. Since
September 23, 2024, the Seller Parties have kept Purchaser informed of the status and progress of the reorganization of the Intellectual
Property held by VRB China or its Subsidiaries and the Intellectual Property held by VRB Cayman or VRB USA, as further described in Section
3.8;
自
2024 年 9 月
23 日以来,卖方全体一直向买方通报VRB中国或其子公司持有的知识产权与
VRB 开曼或 VRB 美国持有的知识产权的重组情况和进展,详见第
3.8 条;
k. Since
September 23, 2024, VRB China has operated the Business in the ordinary course except as otherwise contemplated in this Agreement
or the Transition Plan.
自
2024 年 9 月
23 日以来,除本协议或过渡计划另有规定外,VRB
中国一直在正常经营过程中经营业务。
l. Seller
Parties shall have executed and delivered to the Purchaser a certificate dated as of the Control Acquisition Date certifying that the
conditions specified in this Section 2.5.3 have been fulfilled.
卖方应签署并向买方交付一份日期为控制权取得日的证书,证明本第2.5.3节规定的条件已得到满足。
2.6. Completion
Date. As soon as the applicable Governmental Authority notifies Purchaser of the Withholding Taxes payable with respect to the transactions
contemplated by this Agreement as provided in Section 2.8 and the applicable stamp duties payable with respect to the transactions
contemplated by this Agreement as provided in Section 2.9, Purchaser shall cause such Withholding Taxes and stamp duties
to be paid from the Mutual Account (and VRB Cayman shall cause IE Beijing to approve any joint written instructions authorizing the bank
to make such payments in form and substance reasonably acceptable to IE Beijing) and, thereafter, the Purchaser shall release, and VRB
Cayman shall cause IE Beijing to release, the Mutual Account Instructions to the bank, which shall authorize and direct the bank to pay
the remaining funds in the Mutual Account to VRB Cayman as set forth therein. The Equity Transfer and the Purchaser’s first payment
of the Purchase Price shall be considered complete (“Completion”) upon the first date following the Control Acquisition
Date (the “Completion Date”) that Purchaser has provided a clearance letter of Withholding Taxes issued by competent
PRC Governmental Authority and a MT103 issued by the bank showing the remaining funds in the Mutual Account has been wired out to VRB
Cayman.
2.6. 交割日。一旦相关政府机关根据本协议第
2.8 条的约定通知买方有关本协议拟进行的交易应支付的非居民企业所得(资本利得)预扣税,以及根据第
2.9 条的约定通知买方有关本协议拟进行的交易应支付的适用印花税,买方应立即安排从共同账户中支付该等预提税和印花税(且VRB开曼应促使IE北京批准任何授权银行以IE
北京合理接受的形式和内容进行此类付款的联合书面指示),此后,买方应向银行发放共同账户指示,且VRB开曼应促使
IE北京向银行发放该指示,该指示应授权并指示银行按上述约定向VRB开曼支付共同账户中的剩余资金。股权转让和买方首次支付购买价款应在控制权取得日后的首日被视为完成(“交割”),该日期即为提供由中国政府主管部门签发的预扣税清算函,以及由银行签发显示共同账户中的剩余资金已汇出至VRB开曼的MT103之日(“交割日”)。
2.7. Pre-Completion
Date Covenants.
2.7. 交割日前约定
2.7.1 From
and after the Execution Date until the Completion Date, each Party shall use its best efforts to take, or cause to be taken, all actions
and to do, or cause to be done, all things necessary, proper, or advisable to satisfy the Parties’ obligations and conditions precedent
set forth in this Agreement and make effective as promptly as practicable following the Execution Date the Equity Transfer and the first
payments of the Purchase Price and Capital Increase, and to cooperate with each other in connection with the foregoing, including to
obtain effective authorizations, approvals, permits, or filings, if any, of any Governmental Authority that are required in connection
with the lawful Equity Transfer and Capital Increase pursuant to this Agreement, including but not limited to authorizations, approvals,
permits, and filings from the AMR, tax bureau, commerce bureau and foreign exchange administration of the PRC related to (i) filings
for changes in the ownership interests of VRB China’s shareholders with the AMR, (ii) filings for changes of VRB China’s
Articles of Association, register of shareholders, and management team (including the directors) with the AMR, (iii) filings of
tax withholding documents with the Tax Bureau and payment of the applicable withholdings tax, and (iv) filings with the Seller Parties’
commercial bank consistent with the regulatory requirements.
2.7.1 自签署日起至交割日止,每一方应尽最大努力采取或促使采取一切必要、适当或可取的行动,以履行本协议规定的各方义务并满足先决条件,并在签署日后并在实际可行范围内尽快使股权转让及购买价款和增资的首笔付款生效,并就前述事宜相互合作,包括取得根据本协议合法进行股权转让和增资所需的任何政府机关的有效授权、批准、许可或备案(如有),包括但不限于北京市海淀区市场监督管理局、税务部门、商务部门和外汇管理部门就(i)向北京市海淀区市场监督管理局备案VRB中国股东所有权权益变更,(ii)向北京市海淀区市场监督管理局备案VRB中国章程、股东名册和管理团队(包括董事)变更,(iii)向税务部门提交扣缴税款文件并缴纳适用的扣缴税款,以及(iv)按照监管要求向卖方全体的商业银行提交备案。
2.7.2 From
and after the Execution Date until the Completion Date, no Party may authorize or direct for any withdrawal or payment of funds from
the Mutual Account unless such authorization or direction is made pursuant to the Mutual Account Instructions or a writing signed by
a representative of each of Purchaser and IE Beijing that is authorized on the Mutual Account.
2.7.2 自签署日起至交割日止,任何一方不得授权或指示从共同账户中提取或支付资金,除非该授权或指示是根据共同账户指示或由买方和IE北京各自在共同账户上获得授权的代表共同签署的书面文件作出的。
2.7.3 VRB
Cayman hereby covenants and agrees that, for a period from the Execution Date to the Completion Date, it shall not, directly or indirectly,
sell, transfer, assign, pledge, or otherwise dispose of any of the Target Equity in VRB China without the prior consent of Purchaser.
Any attempted transfer or disposition in violation of this covenant shall be deemed null and void and shall not be recognized by VRB
China, Purchaser, or any third party.
2.7.3 VRB开曼在此承诺并同意,自签署日起至交割日止期间,未经买方事先同意,其不得直接或间接出售、转让、让与、质押或以其他方式处置VRB中国的任何目标股权。任何违反本约定的转让或处置企图均视为无效,且不为VRB中国、买方或任何第三方所认可。
2.7.4 Purchaser
covenants and agrees that, for a period from the Execution Date until the Completion Date, it shall not, directly or indirectly, sell,
transfer, assign, pledge, or otherwise dispose of any of the part of the Target Equity in VRB China without the prior consent of VRB
Cayman. Any attempted transfer or disposition in violation of this covenant shall be deemed null and void and shall not be recognized
by VRB China, VRB Cayman or any third party.
2.7.4 买方承诺并同意,自签署日起至交割日止,未经VRB开曼事先同意,买方不得直接或间接出售、转让、质押或以其他方式处置VRB中国的任何目标股权。任何违反本约定的转让或处置企图均视为无效,且不为VRB中国、VRB开曼或任何第三方所认可。
2.7.5 From
the Execution Date until the Completion Date, except as otherwise provided in this Agreement or the Transition Plan, or as consented
to in writing by Purchaser (which consent shall not be unreasonably withheld, conditioned or delayed), the Seller Parties shall: (a) use
commercially reasonable efforts to conduct the Business in the ordinary course in all material respects; and (b) use commercially
reasonable efforts to maintain and preserve intact the current organization, business and franchise of VRB China and to preserve its
rights, franchises, goodwill and relationships with its employees, customers, lenders, suppliers, regulators and others having business
relationships with VRB China.
2.7.5 自签署日起至交割日止,除非本协议或过渡计划另有规定,或经买方书面同意(该同意不得无理拒绝、附加条件或延迟),卖方全体应:(a)尽商业上合理的努力在所有重大方面按正常程序开展业务;及(b)尽商业上合理的努力维护和保存VRB中国现有的组织、业务和特许经营权,并维护其权利、特许经营权、商誉以及与其员工、客户、贷款人、供应商、监管机构及其他与VRB中国有业务关系的各方的关系。
2.8. Withholding
Tax and Expenses
2.8. 预扣税和费用
2.8.1 VRB
Cayman acknowledges that Purchaser has obligation to make the Withholding Tax Filing (the “Withholding Tax Filing”)
in respect of the Equity Transfer with the competent Governmental Authority in accordance with applicable PRC taxation Laws. For the
avoidance of doubt, unless required otherwise by applicable PRC taxation Laws and the competent Governmental Authority, the Purchase
Price payable by Purchaser for Equity Transfer under this Agreement shall be used as the consideration for the sale of the Transferred
Interests, and the corresponding percentage of the paid-in capital of VRB China shall be used as the VRB Cayman’s cost of investment
for such portion of equity interest, in calculating the amount of VRB Cayman’s gain for the purpose of the Withholding Tax Filing.
2.8.1 VRB开曼确认,买方有义务根据适用的中国税法向主管政府机关就本次股权转让进行预扣税申报(以下简称“预扣税申报”)。为避免疑义,除非适用的中国税法和政府部门另有要求,在为预扣税申报计算VRB开曼收益金额时,买方根据本协议应付的股权转让购买价款应作为转让权益出售的对价,VRB中国实缴资本的对应比例应作为VRB开曼对该部分股权的投资成本。
2.8.2 Purchaser
shall provide to VRB Cayman a draft of the Withholding Tax Filing at least 10 days before the deadline of the Withholding Tax Filing
required under applicable PRC taxation Laws and shall incorporate any reasonable comments on such draft Withholding Tax Filing to be
provided by VRB Cayman. Purchaser shall provide a copy of such Withholding Tax Filing to VRB Cayman as soon as reasonably practicable
after Purchaser submits it to the competent tax bureau.
2.8.2 买方应在适用的中华人民共和国税收法律规定的预扣税申报截止日期前至少10天向VRB开曼提供预扣税申报草案,并应纳入VRB开曼就该预扣税申报草案提供的任何合理意见。买方应在向主管税务局提交预扣税申报后,在合理可行的情况下尽快向VRB开曼提供该预扣税申报的副本。
2.8.3 Within
the deadline for payment as set out in the payment demand issued by the competent tax bureau to Purchaser in relation to the Withholding
Tax to be paid by Purchaser, Purchaser shall pay the non-resident enterprise income (capital gain) withholding tax as assessed by the
competent Tax Bureau and shall provide a copy of the tax payment receipt issued by the competent Tax bureau in respect of the payment
of the withholding tax by Purchaser to VRB Cayman as soon as reasonably practicable after Purchaser has received the same from the competent
Tax bureau. The Parties shall prepare and have their respective authorized representatives execute joint written instructions directing
the bank to transfer from the Mutual Account the payment of the Withholding Tax.
2.8.3 在主管税务局向买方发出的付款要求中规定的付款截止日期内,买方应支付主管税务局评估的预扣税,并在买方收到主管税务局的预扣税后,尽快向VRB开曼提供主管税务局就买方支付预扣税出具的纳税收据副本。各方应准备并让各自的授权代表签署联合书面指示,指示银行从共同账户中转账支付预扣税。
2.8.4 Purchaser
shall use its best reasonable efforts to cause the payment of the Withholding Tax under this Section 2.8 shall be done in conformity
with Paragraph 3 of Article 7 of PRC State Administration of Taxation Announcement [2017] No. 37 (Announcement of the State
Administration of Taxation on Issues Relating to Withholding at Source of Income Tax of Non-resident Enterprises), as amended.
2.8.4 买方应尽最大合理努力使本第
2.8 条规定的预扣税的支付符合修订后的《中华人民共和国国家税务总局公告[2017]第
37 号》(《国家税务总局关于非居民企业所得税源泉扣缴有关问题的公告》)第七条第三款的规定。
2.8.5 Stamp
Duties. The stamp duties on the Equity Interest and the Capital Increase shall be borne and paid by the respective Parties in accordance
with applicable PRC taxation Laws.
2.8.5印花税。
股权和增资的印花税应由各方根据适用的中华人民共和国税收法律承担和支付。
2.8.6 Transaction
Expenses. Purchaser and VRB Cayman shall pay their respective costs and expenses incurred in connection with the negotiation, execution,
delivery and performance of this Agreement and other Transaction Agreements and the transactions contemplated hereby and thereby; provided
that, VRB Cayman shall be responsible for all costs and expenses in connection with the preparation of Withholding Tax Filing, including
without limitation, expenses of preparing valuation report.
2.8.6 交易费用。买方和VRB开曼应支付各自因谈判、签署、交付和履行本协议和其他交易协议以及据此拟进行的交易而产生的成本和费用;但VRB开曼应负责与准备预扣税申报有关的所有成本和费用,包括但不限于准备估值报告的费用。
Article III
Representations and Warranties of the Seller Parties
第三条
卖方全体的陈述和保证
The
Seller Parties hereby represent and warrant to Purchaser that, except as set forth on Schedule II attached hereto (the “Disclosure
Schedule”), which exceptions shall be deemed to be part of the representations and warranties made by the Seller Parties hereunder,
the following representations are true, correct and complete as of the Execution Date and
the Control Acquisition Date, except as otherwise indicated. The Disclosure Schedule shall be arranged in sections corresponding to the
numbered and lettered sections contained in this Article III, and the disclosures in any section of the Disclosure Schedule
shall qualify other sections in this Article III only to the extent it is readily apparent from a reading of the disclosure
that such disclosure is applicable to such other sections.
卖方全体特此向买方陈述和保证,除本协议所附附表二(“披露附表”)所列的例外情况(该等例外情况应被视为卖方全体在本协议项下所作陈述和保证的一部分)外,以下陈述于签署日和控制权取得日均为真实和完整的,另有说明的除外。披露附表应按与本协议第三条所含编号和字母章节相对应的章节编排,披露附表任一章节中的披露仅在阅读披露内容即可明显看出该披露适用于本协议第三条其他章节的情况下,才符合本协议第三条其他章节的约定。
3.1. Organization
and Authority of VRB Cayman. VRB Cayman is a corporation duly organized, validly existing and in good standing under the laws of
the Cayman Islands. VRB Cayman has all necessary corporate power and authority to enter into this Agreement, to carry out its obligations
hereunder and to consummate the transactions contemplated hereby. The execution and delivery by VRB Cayman of this Agreement, the performance
by VRB Cayman of its obligations hereunder and the consummation by VRB Cayman of the transactions contemplated hereby have been duly
authorized by all requisite corporate action on the part of VRB Cayman. This Agreement has been duly executed and delivered by VRB Cayman,
and (assuming due authorization, execution and delivery by Purchaser) this Agreement constitutes a legal, valid and binding obligation
of VRB Cayman, enforceable against VRB Cayman in accordance with its terms, except as such enforceability may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors' rights generally and by general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity).
3.1. VRB开曼的组织和授权。VRB开曼是一家根据开曼群岛法律正式组织、有效存在且信誉良好的公司。VRB开曼拥有签订本协议、履行其在本协议项下的义务以及完成本协议约定的交易所需的一切公司权力和授权。VRB开曼签署和交付本协议、VRB开曼履行其在本协议项下的义务以及VRB开曼完成本协议约定的交易已获得
VRB开曼方面所有必要的公司行动的正式授权。本协议已由VRB开曼正式签署和交付,并且(假定由买方适当授权、签署和交付)本协议构成VRB开曼的合法、有效和具有约束力的义务,可根据其条款对VRB开曼强制执行,但受破产、资不抵债、重组、延期偿付或影响债权人权利的类似法律以及一般衡平法原则(无论是否在法律程序或衡平法程序中寻求强制执行)限制的强制执行除外。
3.2. Organization,
Authority, and Qualification of VRB China. VRB China is a corporation duly organized, validly existing and in good standing under
the laws of the PRC and has all necessary corporate power and authority to own, operate or lease the properties and assets now owned,
operated or leased by it and to carry on its business as it is currently conducted. VRB China is duly licensed or qualified to do business
and is in good standing in each jurisdiction in which the properties owned or leased by it or the operation of its business as currently
conducted makes such licensing or qualification necessary, except where the failure to be so licensed, qualified or in good standing
would not have a Material Adverse Effect. The execution and delivery by VRB China of this Agreement, the performance by VRB China of
its obligations hereunder and the consummation by VRB China of the transactions contemplated hereby have been duly authorized by all
requisite corporate action on the part of VRB China. This Agreement has been duly executed and delivered by VRB China, and (assuming
due authorization, execution and delivery by Purchaser) this Agreement constitutes a legal, valid and binding obligation of VRB China,
enforceable against VRB China in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors' rights generally and by general principles of equity (regardless of whether enforcement
is sought in a proceeding at law or in equity).
3.2. VRB中国的组织、授权和资格。VRB中国是一家根据中华人民共和国法律正式组建、有效存续且信誉良好的公司,拥有一切必要的公司权力和授权,以拥有、经营或租赁其目前拥有、经营或租赁的财产和资产,并按其目前的经营方式开展业务。VRB中国在其拥有或租赁的物业或其目前开展的业务运营使其有必要获得此类许可或资格的各司法管辖区均已获得正式许可或资格,且信誉良好,除非未能获得此类许可、资格或信誉良好不会产生重大不利影响。VRB中国签署和交付本协议、VRB中国履行其在本协议项下的义务以及VRB中国完成本协议约定的交易,均已获得VRB中国方面所有必要的公司行动的正式授权。本协议已由
VRB中国正式签署和交付,且(假定买方适当授权、签署和交付)本协议构成VRB中国的合法、有效和具有约束力的义务,可根据其条款对VRB中国强制执行,但受破产、资不抵债、重组、延期偿付或影响债权人权利的类似法律以及一般衡平法原则(无论是否在法律程序或衡平法程序中寻求强制执行)限制的强制执行除外。
3.3. Capitalization.
The structure of VRB China’s registered capital described in the Articles of Association registered and filed with AMR is completely
consistent with that described in the Articles of Association provided by VRB China to Purchaser and accurately and completely reflects
the capital structure of VRB China before the Completion of the transaction, except for the unpaid capital of VRB China as described
on Section 3.3 of the Disclosure Schedule. All of the equity interests are validly and legally owned of record and beneficially
by VRB Cayman; other than the Unpaid Transferred Interests VRB Cayman has fully paid capital contribution with respect to all of the
equity interests of VRB China and all of equity interests of VRB China are free and clear of all Encumbrances. There are no outstanding
or authorized options, warrants, convertible securities or other rights, agreements, arrangements or commitments of any character relating
to the equity interests in VRB China or obligating any Seller Party to issue or sell the equity interests in, or any other interest in,
VRB China. VRB China does not have outstanding or authorized any equity appreciation, phantom equity, profit participation or similar
rights. There are no voting trusts, shareholder agreements, proxies or other agreements or understandings in effect with respect to the
voting or transfer of any of the equity interests of VRB China.
3.3. 资本化。VRB中国向北京市海淀区市场监督管理局注册和存档的公司章程中描述的VRB中国注册资本结构与VRB中国向买方提供的公司章程中描述的结构完全一致,并准确和完整地反映了
VRB中国在交易完成前的资本结构,但披露附表第
3.3 条中描述的 VRB中国未缴付资本除外。所有股权均由VRB开曼有效和合法地记录和实益拥有;除未实缴转让权益外,VRB开曼已就VRB中国全部股权全额实缴出资,并且VRB中国全部股权不附带任何权利负担。VRB中国不存在与VRB中国股权相关的任何性质的未行使或授权的期权、认股权证、可转换证券或其他权利、协议、安排或承诺,也不存在责成任何卖方发行或出售
VRB中国股权或任何其他权益的义务。VRB中国没有任何尚未行使或授权行使的股权增值权、影子股权、利润参与权或类似权利。VRB中国不存在与任何股权的投票或转让有关的投票信托、股东协议、委托书或其他有效协议或谅解。
3.4. Subsidiaries.
Except as set forth in Section 3.4 of the Disclosure Schedule, VRB China does not own, or have any interest in any shares
or have an ownership interest in any other Person. There are no outstanding options, warrants, rights, commitments, preemptive rights
or agreements of any kind to which VRB China or any of its Subsidiaries is a party or by which any of them is bound which would obligate
any of them to issue, deliver, purchase or sell any additional shares of capital stock, units, membership, or other equity or profit
interests of any kind in any of the Subsidiaries of VRB China.
3.4. 子公司。除披露附表第
3.4 条所列情况外,VRB中国不拥有任何股份或任何权益,也不拥有任何其他人士的所有者权益。VRB中国或其任何附属公司均无任何未行使的期权、认股权证、权利、承诺、优先购买权或任何类型的协议,而这些期权、认股权证、权利、承诺、优先购买权或协议是VRB中国或其任何附属公司的一方,或对VRB中国或其任何附属公司具有约束力,从而使VRB中国或其任何附属公司有义务发行、交付、购买或出售VRB中国任何附属公司的任何额外股本、单股、成员资格或其他任何类型的股权或利润权益。
3.5. No
Conflicts; Consents. The execution, delivery and performance by the Seller Parties of this Agreement, and the consummation of the
transactions contemplated hereby, do not and will not: (a) result in a violation or breach of any provision of the Articles of Association
of VRB China or the Memorandum and Articles of Association of VRB Cayman; (b) result in a violation or breach of any provision of
any law or governmental order applicable to a Seller Party; or (c) except as has been obtained or delivered prior to the Execution
Date (a copy of which has been provided to Purchaser), require the consent, notice or other action by any Person under, conflict with,
result in a violation or breach of, constitute a default under or result in the acceleration of any contract, except in the cases of
clauses (b) and (c), where the violation, breach, conflict, default, acceleration or failure to give notice or obtain consent would
not have a Material Adverse Effect. No consent, approval, permit, governmental order, declaration or filing with, or notice to, any Governmental
Authority is required by or with respect to Seller or VRB China in connection with the execution and delivery of this Agreement and the
consummation of the transactions contemplated hereby, except for such filings as are contemplated by this Agreement or where the failure
to make or obtain such consents, approvals, permits, governmental orders, declarations, filings, or notices would not have, in the aggregate,
a Material Adverse Effect.
3.5. 无冲突;同意。卖方全体签署、交付和履行本协议,以及完成本协议约定的交易,现在和将来都不会:(a)导致违反或违背VRB中国公司章程或VRB开曼公司组织大纲和章程的任何规定;(b)导致违反适用于卖方的任何法律或政府命令的任何规定;或(c)除非在签署日之前已获得或交付(已向买方提供副本),否则要求任何人士根据任何合同同意、通知或采取其他行动,与任何合同相冲突,导致违反或违背任何合同,构成任何合同项下的违约或导致任何合同的提前履行,但在第(b)和(c)款的情况下,违反、违背、冲突、违约、提前履行或未能发出通知或获得同意不会产生重大不利影响的除外。卖方或VRB中国无需就本协议的签署和交付以及本协议约定的交易的完成向任何政府机构提交同意、批准、许可、政府命令、声明或备案,也无需向任何政府机关发出通知,但本协议约定的此类备案除外,或者未能提交或获得此类同意、批准或许可、政府订单、声明、备案或通知总体上不会产生重大不利影响。
3.6. Valid
Equity Transfer and Capital Increase. Assuming the accuracy of the representations of Purchaser in Article IV of this
Agreement, the Equity Transfer and Capital Increase, when delivered and filed in accordance with the terms and for the consideration
set forth in this Agreement, will be valid, legal and free of restrictions on transfer other than restrictions on transfer under the
Transaction Agreements, applicable securities laws and liens or encumbrances created by or imposed by Purchaser.
3.6. 有效的股权转让和增资。假设买方在本协议第四条中的陈述准确无误,股权转让和增资在根据本协议约定的条款和对价交付和备案时,将是有效、合法和无转让限制的,但交易协议、适用证券法和买方设立或施加的留置权或抵押权规定的转让限制除外。
3.7. Litigation.
Except as set forth on Section 3.7 of the Disclosure Schedule, there are no actions, suits, claims, investigations or other
legal proceedings pending, or to the Seller Parties’ Knowledge, threatened against or by any Seller Party affecting the Business
or any of assets of VRB China or any of its Subsidiaries, which if determined adversely to such Seller Party would result in a Material
Adverse Affect. There are no actions, suits, claims, investigations or other legal proceedings in relation to the employee share incentive
plan at VRB Cayman level, or to the Seller Parties’ Knowledge, threatened against or by any Seller Party.
3.7. 诉讼。除披露附表第
3.7 条所列情况外,任何卖方均不存在任何未决诉讼、起诉、索赔、调查或其他法律程序,据卖方全体所知,任何卖方也不存在任何针对或威胁影响
VRB中国或其任何子公司的业务或任何资产的诉讼、起诉、索赔、调查或其他法律程序,如判定对该卖方不利,将导致重大不利影响。在VRB开曼层面,不存在与员工股权激励计划有关的诉讼、起诉、索赔、调查或其他法律程序,据卖方所知,也没有任何卖方受到或威胁要受到此类诉讼、起诉、索赔、调查或其他法律程序。
3.8. Intellectual
Property.
3.8. 知识产权。
3.8.1 Section 3.8.1
of the Disclosure Schedule lists all patents, patent applications, trademark registrations and pending applications for registration,
copyright registrations and pending applications for registration and internet domain name registrations owned by VRB China or its subsidiaries.
3.8.1 披露附表第
3.8.1 条列出了VRB中国或其子公司拥有的所有专利、专利申请、商标注册和待批注册申请、版权注册和待批注册申请以及互联网域名注册。
3.8.2 Section 3.8.2
of the Disclosure Schedule lists all patents, patent applications, trademark registrations and pending applications for registration,
copyright registrations and pending applications for registration and internet domain name registrations not owned by VRB China as of
September 23, 2024, but which are in the process of being assigned to VRB China or its subsidiaries. The Seller Parties have provided
Purchaser with copies of those assignments.
3.8.2 披露附表第
3.8.2 条列出了截至
2024 年 9 月
23 日 VRB中国不拥有但正在转让给
VRB中国或其子公司的所有专利、专利申请、商标注册和待批注册申请、版权注册和待批注册申请以及互联网域名注册。卖方全体已向买方提供了这些转让的副本。
3.8.3 Section 3.8.3
of the Disclosure Schedule lists all patents, patent applications, trademark registrations and pending applications for registration,
copyright registrations and pending applications for registration and internet domain name registrations owned by VRB Cayman or VRB USA.
3.8.3 披露附表第
3.8.3 条列出了VRB开曼或 VRB 美国拥有的所有专利、专利申请、商标注册和待批注册申请、版权注册和待批注册申请以及互联网域名注册。
3.8.4 Section 3.8.4
of the Disclosure Schedule lists all patents, patent applications, trademark registrations and pending applications for registration,
copyright registrations and pending applications for registration and internet domain name registrations not owned by VRB Cayman or VRB
USA as of September 23, 2024, but which are in the process of being assigned to VRB Cayman or VRB USA. The Seller Parties have provided
Purchaser with copies of those assignments.
3.8.4 披露附表第
3.8.4 条列出了截至 2024 年 9 月 23 日不为VRB开曼或
VRB美国所拥有,但正在转让给VRB开曼或 VRB美国的所有专利、专利申请、商标注册和待批注册申请、版权注册和待批注册申请以及互联网域名注册。卖方全体已向买方提供了这些转让的副本。
3.8.5 Except
(i) for completion of the assignments to VRB China or its subsidiaries of the Intellectual Property set forth in Section 3.8.2
of the Disclosure Schedule, or (ii) as would not have a Material Adverse Effect, VRB China or its subsidiaries own or have the
right to use all Intellectual Property necessary for the conduct of the Business (the “VRB China Intellectual Property”).
3.8.5 除(i)完成披露附表第3.8.2条约定的知识产权向VRB中国或其子公司的转让,或(ii)不会产生重大不利影响外,VRB中国及其子公司拥有或有权使用开展业务所需的所有知识产权(“VRB中国知识产权”)。
3.8.6 Except
as set forth in Section 3.8.6 of the Disclosure Schedule or as would not have a Material Adverse Effect, to the Seller Parties’
Knowledge, (i) the conduct of the Business does not infringe, misappropriate or otherwise violate the Intellectual Property of any Person;
(ii) VRB China or its Subsidiaries does not infringe, misappropriate or otherwise violate the Intellectual Property of any Person; (iii)
there is no unauthorized use by any third party of any Intellectual Property or other Confidential Information of VRB China; and (iv)
no Person is infringing, misappropriating or otherwise violating any VRB China Intellectual Property. This Section 3.8.6 constitutes
the sole representation and warranty of the Seller Parties under this Agreement with respect to any actual or alleged infringement, misappropriation
or other violation of Intellectual Property.
3.8.6 除披露附表第3.8.6条所述或据卖方全体所知不会产生重大不利影响外,(i)业务的开展不侵犯、盗用或以其他方式侵犯任何人士的知识产权;以及(ii)任何人士均未侵犯、盗用或以其他方式违反任何VRB中国知识产权;(iii)任何第三方未擅自使用VRB中国的任何知识产权或其他保密信息;以及(iv)任何人士均未侵犯、盗用或以其他方式违反任何VRB中国知识产权。本第3.8.6条构成卖方全体在本协议项下对任何实际或涉嫌侵犯、盗用或其他侵犯知识产权行为的唯一陈述和保证。
3.9. Agreements;
Actions.
3.9. 协议;行动。
3.9.1 Since
December 31, 2023, VRB China has not (i) declared or paid any dividends, or authorized or made any distribution upon or with
respect to any equity interests, (ii) except for trade debt incurred in the ordinary course of business, incurred any new financial
indebtedness other than from VRB Cayman, or (iii) sold, exchanged or otherwise disposed of any material portion of its assets or
rights, other than in the ordinary course of business.
3.9.1 自
2024 年12月31日以来,VRB中国未曾:(i)宣布或支付任何股息,或授权或就任何股权进行任何分配,(ii)除正常业务过程中产生的贸易债务外,未产生除VRB开曼以外的任何新的金融债务,或(iii)出售、交换或以其他方式处置其资产或权利的任何重要部分,正常业务过程除外。
3.9.2 VRB
China is not a guarantor or indemnitor of any Indebtedness.
3.9.2 VRB中国不是任何债务的担保人或赔偿人。
3.9.3 VRB
China does not have any outstanding Indebtedness, other than accounts payables and trade debt specifically reflected on, and fully reserved
against in the Financial Statements or incurred in the ordinary course of business.
3.9.3 除财务报表中明确反映并充分预留的应付账款和贸易债务或在正常业务过程中产生的应付账款和贸易债务外,VRB中国没有任何未偿债务。
3.10. Certain
Transactions. Other than (i) standard employee benefits generally made available to all employees, standard employee offer letters
and agreements concerning the confidential information of VRB China; (ii) standard director and officer indemnification agreements
approved by the executive director of VRB China; (iii) as contemplated by the Transition Plan, and (iv) the Transaction Agreements,
there are no agreements, understandings or proposed transactions between VRB China and any of its officers or directors, or any Affiliate
thereof. None of the Company and its Subsidiaries has any Liability of any nature whatsoever to any Related Party, except for employment-related
Liabilities and obligations incurred in the ordinary course of business consistent with past practice.
3.10. 特定交易。除(i)通常向所有员工提供的标准员工福利、有关VRB中国机密信息的标准员工聘书和协议;(ii)VRB中国执行董事批准的标准董事和高级职员赔偿协议;(iii)过渡计划约定的和(iv)交易协议以外,VRB中国与其任何高级职员或董事或其任何关联方之间没有协议、谅解或拟议交易。公司及其子公司均不对任何关联方承担任何性质的责任,但与雇佣相关的责任和在正常业务过程中按照以往惯例承担的义务除外。
3.11. Voting
Rights. No holder of equity interests of VRB China has entered into any agreements with respect to the voting of equity interests
of VRB China.
3.11. 投票决权。VRB中国的任何股权持有人均未就
VRB中国股权的投票权签订任何协议。
3.12. Financial
Statements. VRB China has delivered to Purchaser audited financial statements for VRB China and its Subsidiaries for the fiscal year
ended December 31, 2023 and December 31, 2022, as prepared in accordance with generally accepted accounting principles of the PRC (“PRC
GAAP”) (the “Financial Statements”). The Financial Statements are (i) true, complete, and correct and are
in accordance with the books and records of VRB China and its subsidiaries, (ii) fairly present in all material respects the financial
condition and operating results of VRB China as of the date, and for the period, indicated therein.
3.12. 财务报表。VRB中国已向买方交付VRB中国及其子公司截至
2023 年 12 月
31 日及 2022 年
12 月 31 日止财政年度根据中国公认会计准则(“中国公认会计准则”)编制的经审计财务报表(“财务报表”)。财务报表(i)真实、完整、正确,并与VRB中国及其子公司的账簿和记录相符,(ii)在所有重大方面公允反映了VRB中国截至财务报表所示日期及期间的财务状况和经营成果。
3.13. Employee
Matters.
3.14. 员工事宜。
3.13.1 Neither
the execution or delivery of the Transaction Agreements, nor the carrying on of the Business by the employees of VRB China, nor the conduct
of the Business as now conducted and as presently proposed to be conducted, will conflict with or result in a breach of the terms, conditions,
or provisions of, or constitute a default under, any contract, covenant or instrument under which any such employee is now obligated.
3.13.1 无论是交易协议的签署或交付,还是
VRB中国的员工开展业务,抑或是目前开展和目前拟开展的业务,均不会与任何该等员工目前负有义务的任何合同、契约或文书的条款、条件或约定相冲突,也不会导致违反这些条款、条件或约定,或构成违约。
3.13.2 VRB
China is not delinquent in payments to any of its employees, consultants, or independent contractors for any wages, salaries, commissions,
bonuses, or other direct compensation for any service performed for it to the date hereof or amounts required to be reimbursed to such
employees, consultants or independent contractors. VRB China has complied in all material respects with all applicable laws related to
employment, including those related to wages, hours, worker classification and collective bargaining, except to the extent any non-compliance
would not result in a Material Adverse Effect. VRB China has withheld and paid to the appropriate governmental entity or is holding for
payment not yet due to such governmental entity all amounts required to be withheld from employees of VRB China and is not liable for
any arrears of wages, taxes, penalties or other sums for failure to comply with any of the foregoing.
3.13.2 VRB中国没有拖欠其任何员工、顾问或独立承包商的任何工资、薪水、佣金、奖金或截至本协议日期为其提供的任何服务的其他直接补偿,也没有拖欠应向此类员工、顾问和独立承包商报销的金额。VRB中国在所有重大方面遵守了所有与就业有关的适用法律,包括与工资、工时、工人分类和集体谈判有关的法律,除非任何不遵守行为不会导致重大不利影响。VRB中国已向相关政府实体扣缴并支付了或扣留了尚未支付给该政府实体的所有应向VRB中国员工扣缴的款项,并且不对因未遵守上述任何规定而拖欠的工资、税款、罚款或其他款项负责。
3.14. Tax
Returns and Payments. There are no taxes due and payable by VRB China that have not been timely paid and no material withholding
taxes required to be withheld by VRB China that have not been withheld and timely paid over to the appropriate governmental agency. VRB
China has duly and timely filed all income or other material tax returns required to have been filed by it, and no extensions or waivers
of statutes of limitations have been given or requested with respect to any material taxes of VRB China. There are no ongoing actions,
suits, claims, investigations or other legal proceedings by any taxing authority against VRB China.
3.14. 纳税申报表和付款。VRB中国没有未及时支付的到期应付税款,也没有未及时扣缴和支付给相关政府机构的需要由VRB中国扣缴的重大预扣税。VRB中国已正式及时地提交了其要求提交的所有收入或其他重要纳税申报表,并且没有就VRB中国的任何重要税款给予或要求延长或放弃诉讼时效。任何税务机关均未对VRB中国提起任何诉讼、起诉、索赔、调查或其他法律程序。
3.15. Permits,
Compliance with Laws.
3.15. 许可证,遵守法律。
3.15.1 VRB
China has all franchises, permits, and licenses necessary for the conduct of the Business, the lack of which could reasonably be expected
to have a Material Adverse Effect. VRB China is not default in any material respect under any of such franchises, permits, or licenses.
3.15.1 VRB中国拥有开展业务所需的所有特许经营权、许可证和执照,如缺乏这些权利、许可证和执照,合理预期将会产生重大不利影响。VRB中国在任何该等特许经营权、许可证或执照项下均无任何重大违约行为。
3.15.2 VRB
China and its Subsidiaries are in material compliance with Laws applicable to their respective businesses, operations and assets. Neither
VRB China nor any of its Subsidiaries has received any written notice alleging a failure comply with all Laws applicable to their respective
businesses, operations and assets.
3.15.2 VRB
中国及其附属公司严格遵守适用于其各自业务、运营和资产的法律。VRB
中国及其任何子公司均未收到任何书面通知,指控其未能遵守适用于各自业务、运营和资产的所有法律。
3.16. Corporate
Documents. The Articles of Association of VRB China as of the Execution Date are in the form made available to Purchaser.
3.16. 公司文件。截至签署日,VRB中国公司章程采用买方可用的格式。
3.17. Disclosure.
Seller Parties have provided Purchaser with full and complete access to all of VRB China’s or its Subsidiaries’ records and
other data relating to the Target Equity, VRB China, or its Subsidiaries. Seller Parties have provided Purchaser with full and complete
access to all of the contracts and transactions between VRB Cayman or its any Affiliates (on the one hand) and VRB China or its Subsidiaries
(on the other hand).
3.17. 披露。卖方已向买方提供了充分和完整地查阅
VRB中国或其子公司的所有记录以及与目标股权、VRB中国或子公司有关的其他数据的权利。卖方已向买方提供全面完整地查阅VRB开曼或其任何附属公司(一方面)与VRB中国或子公司(另一方面)之间的所有合同和交易的权限。
3.18. No
Other Representations and Warranties. Except for the representations and warranties contained in this Article III, none
of the Seller Parties, the Business, or any other Person has made or makes any other express or implied representation or warranty, either
written or oral, on behalf of any Seller Party or the Business, including any representation or warranty as to the accuracy or completeness
of any information regarding the Business furnished or made available to Purchaser and its representatives (including any information,
documents or material delivered to Purchaser, management presentations or in any other form in expectation of the transactions contemplated
hereby) or as to the future revenue, profitability or success of the Business, or any representation or warranty arising from statute
or otherwise in law.
3.18. 无其他陈述和保证。除本第三条所载的陈述和保证外,卖方全体、业务或任何其他人士均未代表任何卖方或业务作出或曾作出任何其他明示或暗示的书面或口头陈述或保证,包括对向买方及其代表提供的有关业务的任何信息的准确性或完整性的任何陈述或保证(包括向买方交付的任何信息、文件或材料、管理层演示文稿或本协议预期交易的任何其他形式),或对业务的未来收入、盈利能力或成功,或因法规或其他法律而产生的任何陈述和保证。
Article IV
representations and warranties of purchaser
第四条
买方的陈述和保证
Purchaser hereby represents
and warrants to the Seller Parties that, except as set forth on the Disclosure Schedule, which exceptions shall be deemed to be part
of the representations and warranties made by the Purchaser hereunder, the following representations are true, correct and complete as
of the Execution Date and as of the Control Acquisition Date, except as otherwise indicated. The Disclosure Schedule shall be arranged
in sections corresponding to the numbered and lettered sections contained in this Article IV, and the disclosures in any
section of the Disclosure Schedule shall qualify other sections in this Article IV only to the extent it is readily apparent
from a reading of the disclosure that such disclosure is applicable to such other sections.
买方特此向卖方全体陈述并保证,除披露附表中约定的情况外,以下陈述截至签署日和控制权取得日真实和完整的,除非另有说明,否则这些例外情况应被视为买方在本协议项下作出的陈述和保证的一部分。披露附表应按与本协议第四条所含编号和字母章节相对应的章节编排,披露附表任一章节中的披露仅在阅读披露内容即可明显看出该披露适用于本协议第四条其他章节的情况下,才符合本协议第四条其他章节的约定。
4.1. Organization
and Authority of Purchaser. Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the
PRC and has all necessary corporate power and authority to own, operate or lease the properties and assets now owned, operated or leased
by it and to carry on its business as it is currently conducted. The execution and delivery by Purchaser of this Agreement, the performance
by Purchaser of its obligations hereunder and the consummation by Purchaser of the transactions contemplated hereby have been duly authorized
by all requisite corporate action on the part of Purchaser. This Agreement has been duly executed and delivered by Purchaser, and (assuming
due authorization, execution and delivery by the Seller Parties) this Agreement constitutes a legal, valid and binding obligation of
Purchaser, enforceable against Purchaser in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors' rights generally and by general principles of equity (regardless of whether
enforcement is sought in a proceeding at law or in equity).
4.1. 买方的组织和权力。买方是一家根据中华人民共和国法律正式组建、有效存续且信誉良好的公司,拥有一切必要的公司权力和授权,以拥有、经营或租赁其目前拥有、经营或租赁的物业和资产,并按其目前的经营方式开展业务。买方签署和交付本协议、买方履行其在本协议项下的义务以及买方完成本协议约定的交易已获得买方所有必要的公司行动的正式授权。本协议已由买方正式签署和交付,并且(假定卖方全体适当授权、签署和交付)本协议构成买方的合法、有效和具有约束力的义务,可根据其条款对买方强制执行,但受破产、资不抵债、重组、延期偿付或影响债权人权利的类似法律以及一般衡平法原则(无论是否在法律程序或衡平法程序中寻求强制执行)限制的强制执行除外。
4.2. No
Conflicts; Consents. The execution, delivery and performance by Purchaser of this Agreement, and the consummation of the transactions
contemplated hereby, do not and will not: (a) result in a violation or breach of any provision of the Articles of Association of
Purchaser; (b) result in a violation or breach of any provision of any law or governmental order applicable to Purchaser; or (c) except
as has been obtained or delivered prior to the Execution Date (a copy of which has been provided to the Seller Parties), require the
consent, notice or other action by any Person under, conflict with, result in a violation or breach of, constitute a default under or
result in the acceleration of any contract, except in the cases of clauses (b) and (c), where the violation, breach, conflict, default,
acceleration or failure to give notice or obtain consent would not have a Material Adverse Effect. No consent, approval, permit, governmental
order, declaration or filing with, or notice to, any Governmental Authority is required by or with respect to Purchaser in connection
with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby, except for such filings
as contemplated by this Agreement or where the failure to make or obtain such consents, approvals, permits, governmental orders, declarations,
filings, or notices would not have, in the aggregate, a Material Adverse Effect.
4.2. 无冲突;同意。买方签署、交付和履行本协议,以及完成本协议约定的交易,现在和将来都不会:(a)导致违反或违背买方公司章程的任何规定;(b)导致违反适用于买方的任何法律或政府命令的任何规定;或(c)除非在签署日之前已获得或交付(已向卖方全体提供副本),否则要求任何人士根据任何合同同意、通知或采取其他行动,与任何合同相冲突,导致违反或违背任何合同,构成任何合同项下的违约或导致任何合同的提前履行,但在第(b)和(c)款的情况下,违反、违背、冲突、违约、提前履行或未能发出通知或获得同意不会产生重大不利影响的除外。买方无需就本协议的签署和交付以及本协议拟议交易的完成向任何政府机构提交同意、批准、许可、政府命令、声明或备案,也无需向任何政府机关发出通知,但本协议约定的此类备案除外,或者未能作出或获得此类同意、批准或许可、政府订单、声明、文件或通知总体上不会产生重大不利影响。
4.3. Purchase
Entirely for Own Account. This Agreement is made with Purchaser in reliance upon Purchaser’s representation to the Seller Parties,
which by Purchaser’s execution of this Agreement, Purchaser hereby confirms, that the Target Equity to be acquired by Purchaser
will be acquired for investment for Purchaser’s own account, not as a nominee or agent, and not with a view to the resale or distribution
of any part thereof, that Purchaser has no present intention of selling, granting any participation in, or otherwise distributing the
same, and that Purchaser has sufficient financial capacity to make the Purchase Price payments to VRB Cayman and make the Capital Increase
payments to VRB China in accordance with the terms and conditions of this Agreement.
4.3. 完全为自己购买。本协议是根据买方对卖方全体的陈述与买方订立的,买方在签署本协议时确认,买方将收购的目标股权是为买方自己进行投资,而不是作为代名人或代理人,也不是为了转售或分销其中的任何部分,买方目前无意出售、授予任何参与权或以其他方式分销目标股权,且买方有足够的财务能力根据本协议的条款和条件向VRB开曼支付购买价款款项以及向
VRB中国支付增资款项。
4.4. Sanctions.
Neither Purchaser, nor any of its officers, directors, employees, agents, shareholders or partners has been or presently is subject to
any sanctions that would impair the ability of Purchaser to enter into this Agreement and consummate the transactions contemplated hereby.
4.4. 制裁。买方及其任何高级职员、董事、雇员、代理人、股东或合伙人过去或现在均未受到任何可能损害买方签订本协议和完成本协议约定的交易的能力的制裁。
4.5. Exculpation.
Purchaser acknowledges that it is not relying upon Person in making its investment or decision to invest in VRB China.
4.5. 免责。买方承认,其在投资或决定投资于
VRB中国时并不依赖于人士。
4.6. Residence.
The office or offices of Purchaser in which it has its principal place of business is identified in the address or addresses of Purchaser
set forth on Purchaser’s signature page.
4.6. 住所。买方主要营业地点所在的一个或多个办事处在买方签名页上列出的买方地址中确定。
4.7. Independent
Investigation. Purchaser has conducted its own independent investigation, review and analysis of the Business, results of
operations, prospects, condition (financial or otherwise), and assets of VRB China. Purchaser acknowledges and agrees that: (a) in making
its decision to enter into this Agreement and to consummate the transactions contemplated hereby, Purchaser has relied solely upon its
own investigation and the express representations and warranties of the Seller Parties set forth in Article III; and (b) none
of the Seller Parties or any other Person has made any representation or warranty as to any Seller Party, the Business, or this Agreement,
except as expressly set forth in Article III.
4.7. 独立调查。买方已对
VRB中国的业务、经营业绩、前景、状况(财务或其他方面)和资产进行了独立调查、审查和分析。买方承认并同意(a)买方在决定签订本协议和完成本协议中约定的交易时,完全依赖于其自身的调查和第三条中约定的卖方全体的明确陈述和保证;以及(b)除第三条中明确约定的情况外,卖方全体或任何其他人士均未就任何卖方、业务或本协议做出任何陈述或保证。
Article V
miscellaneous
第五条
杂项
5.1. Governing
Law. This Agreement shall be governed by the law of the PRC (excluding the law of Hong Kong SAR, Macao SAR and Taiwan), without regard
to conflicts of law principles that would result in the application of any law other than the law of the PRC.
5.1. 适用法律。本协议受中华人民共和国法律(不包括香港特别行政区、澳门特别行政区和台湾区域的法律)管辖,不考虑导致适用中华人民共和国法律以外任何法律的法律冲突原则。
5.2. Language.
This Agreement has been prepared in both the English language and in the Chinese language, with the Chinese language prevailing in the
case of any inconsistency.
5.2. 语言。本协议以英文和中文两种语言编写,如有任何不一致之处,以中文为准。
5.3. Dispute
Resolution. Any disputes arising from or related to this Agreement or any other Transaction Agreements shall be resolved through
friendly negotiations between the Parties. If an agreement cannot be reached, either Purchaser or any Seller Party shall submit to Beijing
Arbitration Commission for arbitration in accordance with its rules of arbitration in effect at the time of applying for arbitration.
The seat of arbitration shall be Beijing. The arbitral award is final and binding upon all Parties.
5.3. 争议解决。因本协议或任何其他交易协议产生的或与本协议或任何其他交易协议有关的任何争议应由各方通过友好协商解决。如无法达成协议,买方或任何卖方可提请北京仲裁委员会按照该会现行仲裁规则进行仲裁。仲裁地在北京,仲裁裁决是终局的,对各方均有约束力。
5.4. Confidentiality.
Except with prior written consent of the Party providing the Confidential Information, the other Parties shall not disclose or permit
the disclosure of the Confidential Information in any manner. “Confidential Information” means (a) the existence and
contents of the transaction contemplated under this Agreement and other Transaction Agreements; (b) any terms, conditions or other
aspects of this Agreement and other Transaction Agreements; (c) negotiations of the transaction contemplated under this Agreement
and other Transaction Agreements; and (d) any confidential or proprietary information relating to its business, financial condition,
information of customers and other confidential matters that have been disclosed or may be disclosed by a Party to the other Parties
under the Transaction Agreements. Notwithstanding the foregoing, the Parties may disclose (i) the Confidential Information only
for their own use to their Affiliates and their employees, officers, directors, bankers, lenders, accountants, legal counsels, business
partners, representatives or advisors (the “Representatives”) who need to know the Confidential Information, in each
case only where such Persons are aware of the confidentiality of the Confidential Information and are under substantially similar obligations
as set forth in this Section 5.4; (ii) the disclosure is required pursuant to any applicable laws and regulations (including
security laws, rules, and regulations), or any applicable requirements of any securities exchange listing; and (iii) the disclosure
is required by any competent Governmental Authority; provided further that, in the case of (iii), any Party is requested or becomes legally
compelled to disclose (the “Disclosing Party”) shall (x) provide the other Parties with prompt written notice
of that fact and shall consult with the other Parties regarding such disclosure, and (y) at the request of another Party, to the
extent reasonably possible and with the cooperation and reasonable efforts of the other parties, seek a protective order, confidential
treatment or other appropriate remedies. In any event, the Disclosing Party shall furnish only that portion of the information that is
legally required and shall exercise reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such
information.
5.4. 保密。除非事先得到提供保密信息一方的书面同意,否则其他各方不得以任何方式披露或允许披露保密信息。“保密信息”指(a)本协议及其他交易协议项下进行的交易的存在和内容;(b)本协议及其他交易协议中的任何条款、条件或其他方面;(c)根据本协议及其他交易协议进行的交易的谈判;以及(d)已经或可能由一方根据交易协议向其他各方披露的,有关其业务、财务状况、客户信息及其他保密事项的保密或专有信息。尽管有以上约定,各方仍可(i)仅为自身使用的目的向其关联方及需要了解保密信息的员工、管理人员、董事、银行家、贷款人、会计、法律顾问、商业伙伴、代表或顾问(“代表”)披露保密信息,且在每种情况下,仅在此类人士了解保密信息的保密性并承担与本协议第5.4条约定的相似的义务的情况下披露保密信息;(ii)根据任何适用法律和法规(包括证券法、规则和法规),或任何适用的任何交易所上市规则要求披露;以及(iii)应任何主管政府机关要求披露,但在第(ii)和(iii)项的情况下,任何一方被要求或被依法强制披露(“披露方”)应
(x) 及时向其他各方发出书面通知,并就披露事宜与其他各方进行协商,
(y) 应另一方的要求,在其他各方的合作和合理努力下,在合理可能的范围内寻求保护令、保密处理或其他适当的补救措施。在任何情况下,披露方仅应提供法律要求的那部分信息,并应尽合理努力获得可靠保证,使此类信息得到保密处理。
5.5. Successors
and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors
and assigns of the Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the Parties
hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.
5.5. 继承人和受让人。本协议的条款和条件应惠及各方各自的继承人和受让人,并对其具有约束力。除本协议有明确约定外,本协议的任何明示或默示条款均无意赋予本协议各方或其各自的继承人和受让人以外的任何一方本协议项下的或因本协议而产生的任何权利、补救措施、义务或责任。
5.6. Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing (including electronic mail as permitted
in this Agreement) and shall be deemed effectively given upon the earlier of actual receipt, or (i) personal delivery to the Party
to be notified; (ii) when sent, if sent by electronic mail during normal business hours of the recipient, and if not sent during
normal business hours, then on the recipient’s next Business Day; (iii) five days after having been sent by registered or
certified mail, return receipt requested, postage prepaid; or (iv) one Business Day after deposit with a nationally recognized overnight
courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All communications shall be sent
to the respective Parties at the following addresses (or to such address as subsequently modified by written notice given in accordance
with this Section 5.6):
5.6. 通知。根据本协议发出或进行的所有通知和其他通信均应采用书面形式(包括本协议允许的电子邮件),并应在实际收到之日或以下情况中最早的时间视为有效送达:(i)通过个人递送至被通知方;(ii)在正常工作时间内通过电子邮件发送的情况下,发送时视为已送达;若不在正常工作时间内发送,则在接收方的下一个工作日视为已送达;(iii)通过挂号或认证邮件发送后五天,要求回执,邮费已付;或(iv)在通过全国知名的隔夜快递公司寄送后一个工作日内,运费已付,指定次日送达,并附有书面收件确认。所有通信应发送至各方的以下地址(或按本第5.6条约定以书面通知方式修改的地址)。
If to VRB Cayman:
若至VRB开曼:
VRB Energy Inc.
PO Box 1350
Clifton House, 75 Fort Street
Grand Cayman
KYI-1108 Cayman Islands
Email: GeneralCounsel@ivnelectric.com; Quentin@ivnelectric.com;
and leonardo.sacch@ivanhoeelectric.com
If to VRB China:
若至VRB中国:
VRB Energy System (Beijing) Co. Ltd.
Beijing Lutong Hongyun Technology and Cultural
Creativity Park,
No. 17 Yunshan South Road, Tongzhou District,
Beijing, PRC
Email: charlesge@vrbenergy.com; PeterZ@ivanhoemines.com
If to Purchaser:
若至买方:
China Energy Storage Co. Ltd.
中能储实业有限公司
Unit 908, Xirongxian Hutong,
Xuannei Street, Xicheng District, Beijing, PRC 北京西城区宣内大街西绒线胡同天安国汇大厦908
Email 邮件:
pengqi@vrbenergy.com; zeshuaihan@vrbenergy.com
5.7. No
Finder’s Fees. Each party represents that it neither is nor will be obligated for any finder’s fee or commission in connection
with this transaction. Purchaser agrees to indemnify and to hold harmless the Seller Parties from any liability for any commission or
compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending
against such liability or asserted liability) for which Purchaser or any of its officers, employees or representatives is responsible.
Each Seller Party agrees to indemnify and hold harmless Purchaser from any liability for any commission or compensation in the nature
of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such liability
or asserted liability) for which each Seller Party or any of its officers, employees or representatives is responsible.
5.7. 无中介费。每一方声明,现在和将来都不承担与本交易有关的任何中介费或佣金。买方同意赔偿卖方全体因本次交易产生的任何佣金或中介费性质的责任(以及就此类责任或主张的责任进行抗辩的成本和费用)并使其免受损害。各卖方同意赔偿买方因本次交易产生的任何佣金或中介费性质的责任(以及就此类责任或主张的责任进行抗辩的成本和费用)并使买方免受损害,各卖方或其任何高级职员、雇员或代表对此负责。
5.8. Costs
of Enforcement. If any action at law or in equity (including, arbitration) is necessary to enforce or interpret the terms of this
Agreement or any other Transaction Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary
disbursements in addition to any other relief to which such party may be entitled.
5.8. 执行费用。如果为执行或解释本协议或任何其他交易协议的条款而必须采取任何法律或衡平法行动(包括仲裁),则胜诉方除有权获得任何其他救济外,还有权获得合理的律师费、成本费和必要的支出。
5.9. Amendments
and Waivers. This Agreement may not be amended, except in a writing signed by all Parties to this Agreement. Any waiver, permit,
consent or approval of any kind or character on the part of any Party of any breach or default under this Agreement, or any waiver on
the part of any Party of any provisions or conditions of this Agreement, must be in writing and signed by the Party providing the waiver,
and shall be effective only to the extent specifically set forth in such writing.
5.9. 修订与弃权。除非本协议所有方签署书面文件,否则不得修订本协议。任何一方对本协议项下任何违反或违约行为的任何种类或性质的放弃、许可、同意或批准,或任何一方对本协议任何条款或条件的任何放弃,必须以书面形式做出,并由提供放弃的一方签署,且仅在该书面形式具体规定的范围内有效。
5.10. Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.
5.10. 可分割性。本协议任何条款的无效性或不可执行性绝不影响任何其他条款的有效性或可执行性。
5.11. Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any Party under this Agreement, upon any breach
or default of any other Party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting
Party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach
or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default
theretofore or thereafter occurring.
5.11. 延迟或遗漏。任何一方在本协议下因另一方的违约或失责而享有的任何权利、权力或补救措施的延迟行使或未行使,均不得损害该未违约或未失责方的任何此类权利、权力或补救措施,也不得被解释为对该违约或失责的放弃、默认或对随后发生的类似违约或失责的放弃或默认;对任何单一违约或失责的放弃不应被视为对之前或之后发生的任何其他违约或失责的放弃。
5.12. Entire
Agreement. This Agreement (including the Schedules and Exhibits attached hereto) constitutes the full and entire understanding and
agreement between the Parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject
matter hereof existing between the Parties are expressly canceled.
5.12. 完整协议。本协议(包括附于本协议的附表和附件)构成各方就本协议标的事项达成的完整且全部的理解与协议,任何各方之间关于本协议标的事项的其他书面或口头协议均被明确取消。
[Signature Page Follows]
[下接签字页]
IN WITNESS WHEREOF, the undersigned has duly executed
and delivered this Agreement effective as of the Execution Date.
下列签署人已正式签署并递交本协议,自签署日起生效,以昭信守。
|
VRB CAYMAN: |
|
VRB开曼: |
|
|
|
VRB Energy Inc. |
|
|
|
By: |
/s/ Quentin Markin |
|
|
|
|
由: |
/s/ Quentin Markin |
|
|
|
|
Name: |
Quentin Markin |
|
|
|
|
姓名: |
Quentin Markin |
|
|
|
|
Title: |
Director |
|
|
|
|
职务: |
董事 |
SIGNATURE PAGE TO PURCHASE, SALE AND INVESTMENT
AGREEMENT
IN WITNESS WHEREOF, the undersigned has duly executed
and delivered this Agreement effective as of the Execution Date.
下列签署人已正式签署并递交本协议,自签署日起生效,以昭信守。
|
VRB CHINA: |
|
VRB中国: |
|
|
|
VRB Energy System (Beijing) Co. Ltd. |
|
普能(北京)能源科技有限公司 |
|
|
|
By: |
/s/ Yanbao Li |
|
|
|
|
由: |
/s/ 李艳保 |
|
|
|
|
Name: |
Yanbao Li |
|
|
|
|
姓名: |
李艳保 |
|
|
|
|
Title: |
Legal Representative |
|
|
|
|
职务: |
法定代表人 |
SIGNATURE PAGE TO PURCHASE, SALE AND INVESTMENT
AGREEMENT
IN WITNESS WHEREOF, the undersigned has duly executed
and delivered this Agreement effective as of the Execution Date.
下列签署人已正式签署并递交本协议,自签署日起生效,以昭信守。
|
PURCHASER: |
|
买方: |
|
|
|
China Energy Storage Industry Co., Ltd. |
|
中能储实业有限公司 |
|
|
|
By: |
/s/ Zeshuai Han |
|
|
|
|
由: |
/s/ 韩泽帅 |
|
|
|
|
Name: |
Zeshuai Han |
|
|
|
|
姓名: |
韩泽帅 |
|
|
|
|
Title: |
Executive Director |
|
|
|
|
职务: |
执行董事 |
SIGNATURE PAGE TO PURCHASE, SALE AND INVESTMENT
AGREEMENT
SCHEDULE I
附表
I
PAYMENT SCHEDULE
付款时间表
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RMB |
Year/年 |
|
2024 |
2025 |
Total |
Quarter/季度 |
|
第4季度
Q4 |
第一季度
Q1 |
第二季度
Q2 |
第三季度
Q3 |
第四季度
Q4 |
|
Month/月 |
|
10 |
11 |
12 |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
12 |
Total |
股权收购
Transfer Consideration |
USD |
10,000,000.00 |
|
|
|
|
|
|
|
10,000,000.00 |
|
|
|
|
|
|
20,000,000.00 |
增资款
Capital Increase |
RMB |
90,000,000.00 |
|
|
30,000,000.00 |
|
|
50,000,000.00 |
|
|
20,000,000.00 |
|
|
20,000,000.00 |
|
39,734,693.88 |
249,734,693.88 |
中能储持股比例
Shares Percentage of CES |
|
51% |
|
|
51% |
|
|
51% |
|
51% |
51% |
|
|
51% |
|
51% |
|
预算
Budget |
固投预算
Investment budget |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
电解液工厂投资
electrolyte plant |
50,000,000.00 |
15,000,000.00 |
|
|
15,000,000.00 |
|
|
15,000,000.00 |
|
|
|
|
|
5,000,000.00 |
|
|
50,000,000.00 |
产线工厂(长治)
production line plant(Changzhi City) |
40,000,000.00 |
12,000,000.00 |
|
|
12,000,000.00 |
|
|
12,000,000.00 |
|
|
|
|
|
4,000,000.00 |
|
|
40,000,000.00 |
产线工厂(怀化)
production line plant(Huaihua City) |
25,000,000.00 |
7,500,000.00 |
|
|
7,500,000.00 |
|
|
7,500,000.00 |
|
|
|
|
|
2,500,000.00 |
|
|
25,000,000.00 |
研发费用
R&D |
|
3,000,000.00 |
|
|
3,000,000.00 |
|
|
3,000,000.00 |
|
|
3,000,000.00 |
|
|
3,000,000.00 |
|
|
15,000,000.00 |
管理费用
Management expenses |
|
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
75,000,000.00 |
剩余资金
Cash |
|
47,500,000.00 |
42,500,000.00 |
37,500,000.00 |
25,000,000.00 |
20,000,000.00 |
15,000,000.00 |
22,500,000.00 |
17,500,000.00 |
12,500,000.00 |
24,500,000.00 |
19,500,000.00 |
14,500,000.00 |
15,000,000.00 |
10,000,000.00 |
44,734,693.88 |
|
总质押股权
Total No. of Shares Pledged |
|
29.98% |
|
|
26.08% |
|
|
19.58% |
|
10.36% |
7.76% |
|
|
5.16% |
|
0.00% |
|
解质押股权
Share to be Released |
|
|
|
|
3.90% |
|
|
6.50% |
|
9.22% |
2.60% |
|
|
2.60% |
|
5.16% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
投前估值 Pre-money Valuation |
520,000,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
投后估值 Post-money Valuation |
769,734,693.88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
人民币/美元汇率
Exchange Rate |
7.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
USD 1M对应人民币
RMB Corresponding to USD 1M |
71,000,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SCHEDULE II
附表
II
DISCLOSURE SCHEDULE
披露附表
DISCLOSURE SCHEDULE
披露附表
TO
附于
PURCHASE, SALE AND INVESTMENT AGREEMENT
购买、销售和投资协议
DATED AS OF OCTOBER 15, 2024
日期为
2024 年 10 月
15 日
BY AND AMONG
各方为
VRB ENERGY INC.,
VRB ENERGY SYSTEM (BEIJING) CO., LTD.,
普能(北京)能源科技有限公司
AND
和
CHINA ENERGY STORAGE INDUSTRY CO., LTD.
中能储实业有限公司
SECTION 3.3
第
3.3 条
As of October 15, 2024, VRB China has unpaid
registered capital in the amount of approximately $14,500,000, which amount fluctuates on a regular basis. This unpaid registered capital
relates to transactions that occurred prior to VRB Cayman acquiring VRB China, and the Parties intend to address the situation as set
forth in the Joint Venture Agreement.
截至
2024 年 10 月
15 日,VRB中国的未缴注册资本约为
14,500,000 美元,该金额定期波动。该未缴注册资本与
VRB开曼收购 VRB中国之前发生的交易有关,双方打算按照合资协议的规定处理该情况。
SECTION 3.4
第
3.4 条
VRB China has the following, direct or indirect, wholly-owned subsidiaries
(all of which are companies registered under the PRC):
VRB Energy Operations (Beijing) Co. Ltd. (“Beijing VRB”)
VRB Energy Operations (Hubei) Co. Ltd. (“Hubei VRB”)
VRB Shanxi New Energy Co. Ltd.
VRB Shanxi New Materials Co. Ltd.
VRB China also owns 49% of the following subsidiary (a company registered
under the PRC):
Hebei Big River Energy Storage Co. Ltd.
VRB中国拥有以下直接或间接全资子公司(均为在中国注册的公司):
北京普能世纪科技有限公司(“北京VRB”)
湖北普能世纪新能源科技有限公司(“湖北VRB”)
普能世纪(山西)新能源有限公司
普能世纪(山西)新材料有限公司
VRB中国同时持有以下子公司49%的所有权(一家在中国注册的公司):
河北大河储能科技有限公司
SECTION 3.7
第
3.7 条
Trade Secret Infringement Case
侵犯商业秘密案
In this case, the plaintiffs are Beijing VRB
and Hubei VRB, while the 8 defendants include Green Vanacium and the following 7 individuals who were former employees of Beijing VRB:
Huang Mianyan, Hu Bo, Zhang Chen, Zhang Zhanzhan, Ma Yitao, Liu Xuedong, and Suo Yangang. The case was filed in November 2023 with the
Beijing High Court. VRB is seeking an injunction to stop the defendants from infringing on the former employer’s trade secrets
and has claimed damages in the amount of RMB 200 million. The dispute involves 12 trade secrets, including the stack structure, sealing
design, test stack, and energy storage system. As of the Execution Date, the second instance trial regarding jurisdictional challenge
by defendants has concluded in the plaintiffs’ favor. The case will proceed to trial in the Beijing High Court. Litigation counsel
for VRB China anticipates several rounds of hearings, and the first instance judgment is expected to be issued by Beijing High Court
before October 2025.
该案的原告是北京VRB和湖北VRB,被告有
8 人,包括Green Vanacium和以下
7 名曾是北京VRB员工的个人:Huang
Mianyan, Hu Bo, Zhang Chen, Zhang Zhanzhan, Ma Yitao, Liu Xuedong, 和Suo
Yangang。此案于 2023 年
11 月提交北京高级法院。VRB
要求法院下达禁令,制止被告侵犯前雇主的商业秘密,并索赔
2 亿元人民币。该纠纷涉及
12 项商业秘密,包括堆栈结构、密封设计、测试堆栈和储能系统。截至签署日,关于被告提出的管辖权异议的二审庭审已经结束,原告胜诉。
该案将在北京高级法院开庭审理。VRB中国的诉讼律师预计将进行多轮听证,预计北京高院将于
2025 年 10 月前做出一审判决。
Litigation for Breach of Fiduciary Duties
违反信托义务的诉讼
Beijing VRB filed a lawsuit in Beijing Tongzhou
District Court against the individuals Huang Mianyan, Hu Bo and Ma Yitao for breach of fiduciary duties on April 29, 2024, and against
Green Vanadium for damaging the company’s interests, demanding damages in the amount of RMB 30 million. Beijing VRB has successfully
frozen the defendant’s property. This has put great pressure on the defendants. They have since raised objections to such property
preservation measures. Beijing VRB will deal with it by preparing effective counter arguments.
For the merit of the case, Beijing Tongzhou District
Court held the first pre-trial conference on September 25, 2024, where all parties presented their claims and defenses, with evidence
being submitted and cross-examined. The Court has scheduled the second pre-trial conference for November 7, 2024, during which the parties
will continue submitting and cross-examining supplemental evidence. As the factual matrix of this case is highly complex and intertwined
with the trade secret infringement case before the Beijing High Court, the date of trial and first-instance judgment cannot yet be estimated
and will depend on the outcome of the second pre-trial conference.
北京VRB于2024年4月29日向北京市通州区法院起诉个人Huang
Mianyan, Hu Bo 和Ma Yitao违反信托义务,起诉Green
Vanadium损害公司利益,要求赔偿3000万元。北京VRB已成功冻结被告的财产。这给被告带来了巨大的压力。此后,他们对这些财产保护措施提出了反对意见。北京VRB将通过准备有效的反驳来应对。
实体案情是,北京市通州区法院于2024年9月25日举行了第一次庭前会议,各方陈述了各自的主张和抗辩,并提交了证据进行了质证。法院已定于2024年11月7日举行第二次审前会议,在此期间,各方将继续提交和盘问补充证据。由于本案的事实矩阵高度复杂,与北京高等法院审理的侵犯商业秘密案件交织在一起,审判和一审判决的日期尚无法估计,将取决于第二次审前会议的结果
Patent Infringement Litigation
专利侵权诉讼
This case is currently in the preparatory stage
and has not yet been filed. The Beijing Intellectual Property Court is the court with competent jurisdiction. The plaintiffs are expected
to be Beijing VRB and Hubei VRB, with Green Vanadium as the defendant. VRB China plans to initiate two lawsuits based on two utility
model patents related to the stack structure. The litigation documents are being prepared, and litigation counsel expects to file the
cases with the Beijing Intellectual Property Court in October 2024. In both lawsuits, VRB China intends to seek an injunction to stop
the defendants from infringing, plus RMB 20 million in damages from Green Vanadium.
该案件目前处于筹备阶段,尚未立案。北京知识产权法院是具有管辖权的法院。原告预计为北京VRB和湖北VRB,Green
Vanadium为被告。VRB中国计划根据与堆叠结构相关的两项实用新型专利提起两起诉讼。诉讼文件正在准备中,诉讼律师预计将于2024年10月向北京知识产权法院提起诉讼。在这两起诉讼中,VRB中国都打算寻求禁令,以阻止被告侵权,并要求Green
Vanadium赔偿2000万元人民币。
SECTION 3.8.1
VRB China Registered Patents
Owned by VRB China1
第
3.8.1 条
VRB中国注册专利
由VRB中国所有2
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
China |
WIRELESS
CHARGING AND DISCHARGING DEVICE FOR FLOW BATTERY |
2017205193372 |
May 10,
2017 |
ZL201720519337.2 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
COMPLEX
CARBON FELT FLOW CHANNEL |
2017205151079 |
May 10,
2017 |
ZL201720515107.9 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
FLOW FRAME
FOR NEW TYPE FLOW BATTERY |
2017205154715 |
May 10,
2017 |
ZL201720515471.5 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
FLOW BATTERY
SYSTEM FOR VARIABLE FREQUENCY DRIVER |
2017205194290 |
May 10,
2017 |
ZL201720519429.0 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
FLOW BATTERY
ELECTRODE WITH NEW TYPE FLOW FIELD |
2017205151064 |
May 10,
2017 |
ZL201720515106.4 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
BLACK START
DEVICE FOR FLOW BATTERY |
2017205150343 |
May 10,
2017 |
ZL201720515034.3 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A SEALING
STRUCTURE FOR A CELL STACK AND A NON-INLET POSITION OF A CELL STACK |
2018100604777 |
Jan 22,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A POWER
SUPPLY SYSTEM, STACK GROUYP AND STACKS |
2018201075070 |
Jan 22,
2018 |
ZL201820107507.0 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A POWER
SUPPLY SYSTEM, STACK GROUP AND STACKS |
2018100592977 |
Jan 22,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A SEALING
STRUCTURE FOR A CELL STACK AND A NON-INLET POSITION OF A CELL STACK |
2018201074932 |
Jan 22,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A FLOW BATTERY
SYSTEM AND ITS CELL STACK |
2018100651744 |
Jan 23,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A FLOW BATTERY
AND ITS BIPOLAR PLATE STRUCTURE |
2018201145995 |
Jan 23,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
1To
the extent permissible, VRB China retains the right to file applications in Taiwan claiming priority to any of the Chinese patents/applications
listed in this Section 3.8.1 of the Disclosure Schedule.
2
在允许的范围内,VRB中国保留在台湾提出申请的权利,要求对披露附表第
3.8.1 条中列出的任何中国专利/申请享有优先权。
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
China |
A
FLOW BATTERY AND ITS BIPOLAR PLATE STRUCTURE |
2018100638580 |
Jan
23, 2018 |
|
VRB
Energy Operations (Beijing) Co., Ltd. |
China |
A CARBON
FELT AND A FLOW BATTERY STACK THAT USING THE CARBON FELT |
2018100641988 |
Jan 23,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A FLOW BATTERY
SYSTEM AND ITS CELL STACK |
2018201165306 |
Jan 23,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A CONDUCTIVE
FLOW BATTERY AND ITS LEAKAGE DETECTION DEVICE |
2018201166084 |
Jan 23,
2018 |
ZL201820116608.4 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A CONDUCTIVE
FLOW BATTERY AND ITS LEAKAGE DETECTION DEVICE |
2018100646021 |
Jan 23,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A CELL STACK
TRANSPORTATION ASSEMBLY AND A CELL STACK TRANSPORTATION DEVICE |
2018201242533 |
Jan 24,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A CELL STACK
TRANSPORTATION ASSEMBLY AND A CELL STACK TRANSPORTATION DEVICE |
2018100688185 |
Jan 24,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
COMPOSITE
VANADIUM FLOW BATTERY |
2018201242228 |
Jan 24,
2018 |
ZL201820124222.8 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A CELL STACK
AND ITS ASSEMBLY TOOLING |
2018101334775 |
Feb 9, 2018 |
ZL201810133477.5 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A CELL STACK
AND ITS ASSEMBLY TOOLING |
2018202407054 |
Feb 9, 2018 |
ZL201820240705.4 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A POWER
SUPPLY SYSTEM AND POWER SUPPLY METHOD |
2018101463687 |
Feb 12,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
POLYMER
COMPOSITE BIPOLAR PLATES, METHOD OF PREPARATION THEREOF AND VANADIUM FLOW BATTERY |
2018104421065 |
May 10,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A PREPARATION
METHOD OF AN INTEGRATED ELECTRODE AND A VANADIUM FLOW BATTERY |
201810631681X |
Jun 19,
2018 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
NON-CROSSLINKED
ANION-EXCHANGE MEMBRANE AND ITS PREPARATION METHOD, CROSSLINKED ANION-EXCHANGE MEMBRANE AND ITS PREPARATION METHOD AND VANADIUM FLOW
BATTERY |
2018109531199 |
Aug
21, 2018 |
|
VRB
Energy Operations (Beijing) Co., Ltd. |
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
China |
INTEGRATED
COLLECTOR PLATE, ITS PREPARATION METHOD AND APPLICATION |
2018109531201 |
Aug 21,
2018 |
ZL201810953120.1 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A SHELF
FOR SCISSOR LIFT AND A SCISSOR LIFT |
2019212693964 |
Aug 6, 2019 |
ZL201921269396.4 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A BATTERY
CONTROL DEVICE AND METHOD |
2019107274819 |
Aug 7, 2019 |
ZL201910727481.9 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
SURFACE
RESISTANCE TEST EQUIPMENT FOR ION EXCHANGE MEMBRANES FOR VANADIUM FLOW BATTERY |
201922189501X |
Dec 6, 2019 |
ZL201922189501.X |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A METHOD
FOR RECOVERING VANADIUM, MOLYBDENUM, NICKEL AND ALUMINUM FROM SPENT CATALYST IN PETROLEUM REFINING |
2020115092069 |
Dec 18,
2020 |
ZL202011509206.9 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A METHOD
FOR RECOVERING VANADIUM-NICKEL FROM POOR QUALITY PETROLEUM COKE |
2021103497815 |
Mar 31,
2021 |
ZL202110349781.5 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A METHOD
FOR RECOVERING VANADIUM, NICKEL AND ALUMINUM FROM SULFURIC ACID-RIPENED LEACH SOLUTION |
2021103466785 |
Mar 31,
2021 |
ZL202110346678.5 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
ALUMINUM
END PLATE (HIGH POWER REACTOR CASTING TYPE) |
202130403301X |
Jun 28,
2021 |
ZL202130403301.X |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
ALUMINUM
END PLATE (VANADIUM FLOW BATTERY CASTING TYPE) |
2021304029457 |
Jun 28,
2021 |
ZL202130402945.7 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A VANADIUM
BATTERY AND ITS CELL STACK |
2021218220980 |
Aug 3, 2021 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A FLOW BATTERY
TESTING PLATFORM |
2021217993411 |
Aug 3, 2021 |
ZL202121799341.1 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A VANADIUM
FLOW BATTERY SOC BALANCING SYSTEM |
2021112874586 |
Nov 2, 2021 |
ZL202111287458.6 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A VANADIUM
FLOW BATTERY DECENTRALIZED SCALE-UP SYSTEM |
202111288951X |
Nov 2, 2021 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A
VANADIUM FLOW BATTERY SOC BALANCING SYSTEM STRUCTURE AND ITS CONTROL METHOD |
2021115950524 |
Dec
23, 2021 |
|
VRB
Energy Operations (Beijing) Co., Ltd. |
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
China |
A METHOD
FOR PREPARING VANADIUM ELECTROLYTE FOR VANADIUM FLOW BATTERY |
2022100693067 |
Jan 20,
2022 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A METHOD
AND DEVICE FOR ACCURATELY CONTROLLING THE REDUCTION VALENCE STATE OF HIGH-PURITY VANADIUM PENTOXIDE |
2022100686788 |
Jan 20,
2022 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A BATTERY
MANAGEMENT CONTROL SYSTEM FOR FLOW BATTERY |
2022203503587 |
Feb 21,
2022 |
ZL202220350358.7 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
HIGH-POWER
STACKS FOR VANADIUM BATTERIES |
2022107884972 |
Jul 6, 2022 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
HIGH-POWER
STACKS FOR VANADIUM BATTERIES |
2022217300535 |
Jul 6, 2022 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
AN INTEGRATED
ELECTRODE FOR VANADIUM FLOW BATTERY AND ITS PREPARATION METHOD |
2022107941655 |
Jul 7, 2022 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
CARBON FELT
AND BIPOLAR PLATE RESISTANCE TEST TOOLS |
2022108086255 |
Jul 11,
2022 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A VANADIUM
FLOW BATTERY BIPOLAR PLATE AND ITS PREPARATION METHOD |
202210876126X |
Jul 25,
2022 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
CELL STACK |
2023301578752 |
Mar 28,
2023 |
ZL202330157875.2 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A FLOW STACK
SYSTEM |
202321135424X |
May 11,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A FLOW TRACK
SYSTEM |
2023211342007 |
May 11,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
FLOW BATTERY
INTEGRATED ELECTRODE AND FLOW BATTERY |
2023106108803 |
May 26,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
ALL-VANADIUM
REDOX FLOW BATTERY CAPACITY RECOVERY METHOD |
2023106598130 |
Jun 6, 2023 |
ZL 202310659813.0 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A FLOW BATTERY
SYSTEM AND CONTROL METHOD |
2023107455882 |
Jun 21,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
FLOW BATTERY
TESTING DEVICE |
2023217182533 |
Jun 30,
2023 |
ZL202321718253.3 |
VRB Energy
Operations (Beijing) Co., Ltd. |
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
China |
BIPOLAR
PLATE FOR FLOW BATTERY AND FLOW BATTERY |
2023108392325 |
Jul
10, 2023 |
ZL
202310839232.5 |
VRB
Energy Operations (Beijing) Co., Ltd. |
China |
INSULATION
AND PROTECTION MECHANISMS, CONVEYING EQUIPMENT AND FLOW BATTERY STORAGE SYSTEMS |
2023219575838 |
Jul 24,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A HEAT EXCHANGER
AND A FLOW STACK SYSTEM |
2023219770046 |
Jul 25,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
BIPOLAR
PLATE AIR TIGHTNESS TESTING DEVICE |
2023219757179 |
Jul 25,
2023 |
ZL202321975717.9 |
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
AN ELECTROLYTE
STORAGE TANK |
202310969212X |
Aug 2, 2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
FLOW BATTERY
CLEANING DEVICE, CLEANING METHOD AND SYSTEM |
2023109620282 |
Aug 2, 2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
AN ELECTRODE
FOR FLOW BATTERY AND A FLOW BATTERY |
2023110225636 |
Aug 14,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
FLOW BATTERY
BUBBLE DETECTION DEVICE, DETECTION METHOD, SYSTEM AND STORAGE MEDIUM |
2023111471727 |
Sep 7, 2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A FLOW BATTERY
BUBBLE DETECTION DEVICE, DETECTION METHOD, SYSTEM AND STORAGE MEDIUM |
2023111527690 |
Sep 7, 2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
FLOW BATTERY
DEGASSING DEVICE, DEGASSING METHOD, SYSTEM AND STORAGE MEDIUM |
2023111540430 |
Sep 7, 2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A BIPOLAR
PLATE AND A COLLECTOR PLATE OF FLOW BATTERY |
2023111745055 |
Sep 13,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
ALL-VANADIUM
REDOX FLOW BATTERY SYSTEM |
2023113455540 |
Oct 18,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
PROCESSING
SYSTEM AND METHOD OF FLOW BATTERY SYSTEM |
2023115115079 |
Nov 13,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
METHOD AND
SYSTEM OF ELECTROLYTE MONITORING |
2023114979647 |
Nov 13,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A LIQUID
FLOW BATTERY THERMAL STORAGE SYSTEM |
2023116114618 |
Nov 29,
2023 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
China |
INTEGRATED
ELECTRODE AND FLOW BATTERY SYSTEM |
2023116690716 |
Dec
7, 2023 |
ZL202311669071.6 |
VRB
Energy Operations (Beijing) Co., Ltd. |
China |
CONDUCTIVE
SLURRY, PREPARATION METHOD, COMPOSITE ELECTRODE, AND FLOW BATTERY |
2024100953082 |
Jan 23,
2024 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
BIPOLAR
PLATE STRUCTURE AND ITS MANUFACTURING METHOD, LIQUID FLOW BATTERY |
2024102992344 |
Mar 15,
2024 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
China |
A Flow Battery
System |
2024102795933 |
Mar 12,
2024 |
|
VRB Energy
Operations (Beijing) Co., Ltd. |
Japan |
POLYMER
BLEND PROTON EXCHANGE MEMBRANE AND PREPARATION METHOD THEREOF |
2011543962 |
Dec 4, 2009 |
5599819 |
VRB Energy
Operations (Beijing) Co., Ltd. |
VRB China Registered Trademarks
Owned by VRB China
VRB中国注册商标
VRB中国所有
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
Japan |
VRBFLEX |
Pending |
A08T252 |
2024-85679 |
9 |
VRB Energy
Operations (Beijing) Co., Ltd. |
Japan |
VRBPOD |
Pending |
A08T253 |
2024-85680 |
9 |
VRB Energy
Operations (Beijing) Co., Ltd. |
Taiwan |
VRBFLEX |
Pending |
113053761 |
|
9 |
VRB ENERGY
OPERATIONS (BEIJING) CO., LTD. |
Taiwan |
VRBPOD |
Pending |
113053762 |
|
9 |
VRB ENERGY
OPERATIONS (BEIJING) CO., LTD. |
Thailand |
VRBFLEX |
Pending |
240137472 |
|
9 |
วีอาร์บี
เอเนอร์จี้ โอเปอเรชั่นส์(เป่ยจิง)
โค. แอลทีดี.
(computer-generated English translation: VRB Energy Operations
(Beijing) Co., Ltd.) |
Thailand |
VRBPOD |
Pending |
240137478 |
|
9 |
วีอาร์บี
เอเนอร์จี้ โอเปอเรชั่นส์(เป่ยจิง)
โค. แอลทีดี.
(computer-generated English translation: VRB Energy Operations
(Beijing) Co., Ltd.) |
SECTION 3.8.2
VRB Cayman Registered Patents
To Be Assigned To VRB China
第
3.8.2 条
VRB开曼注册专利
将转让给VRB中国
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
India |
ELECTROCHEMICAL
BATTERY INCORPORATING INTERNAL MANIFOLDS |
759DELNP2010 |
Sep 25,
2007 |
303399 |
VRB Energy
Inc. |
India |
ELECTROCHEMICAL
BATTERY INCORPORATING INTERNAL MANIFOLDS |
201818034734 |
Sep 25,
2007 |
411268 |
VRB Energy
Inc. |
Republic
of Korea |
SYSTEMS
AND METHODS FOR ASSEMBLING REDOX FLOW BATTERY REACTOR CELLS |
1020147008704 |
Sep 14,
2012 |
10-2036388 |
VRB Energy
Inc. |
VRB Cayman Registered Trademarks
To Be Assigned To VRB China
VRB开曼注册商标
将转让给VRB中国
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
China |
Heartbeat Logo
|
Registered |
4718865 |
4718865 |
9 |
VRB
Energy Inc. |
China |
VRB POWER |
Registered |
4718867 |
4718867 |
9 |
VRB
Energy Inc. |
China |
VRB KW-ESS |
Registered |
G1058676
(IR No. 1058676) |
G1058676
(IR No. 1058676) |
9 |
VRB
Energy Inc. |
China |
VRB-ESS |
Registered |
4718866 |
4718866 |
9 |
VRB
Energy Inc. |
China |
VRB MW-ESS |
Registered |
G1052723
(IR No. 1052723) |
G1052723
(IR No. 1052723) |
9 |
VRB
Energy Inc. |
China |
VRB Design
|
Registered |
42722019 |
42722019 |
9 |
VRB
ENERGY INC. |
China |
VRB Design
|
Registered |
40209506 |
40209506 |
37 |
VRB
ENERGY INC. |
China |
VRB ENERGY in Chinese Characters
|
Registered |
39701471 |
39701471 |
6 |
VRB
ENERGY INC. |
China |
VRB ENERGY (and Chinese Characters and Design)
|
Registered |
36719819 |
36719819 |
6 |
VRB
ENERGY INC. |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Chinese Characters
and Design)
|
Registered |
33603164 |
33603164 |
6 |
VRB
ENERGY INC. |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Chinese Characters
and Design)
|
Registered |
33603167 |
33603167 |
11 |
VRB
ENERGY INC. |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Chinese Characters
and Design)
|
Registered |
33603169 |
33603169 |
37 |
VRB
ENERGY INC. |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Chinese Characters
and Design)
|
Registered |
33603168 |
33603168 |
17 |
VRB
ENERGY INC. |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Chinese Characters
and Design)
|
Registered |
33603162 |
33603162 |
1 |
VRB
ENERGY INC. |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Chinese Characters
and Design)
|
Registered |
33603165 |
33603165 |
7 |
VRB
ENERGY INC. |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Chinese Characters
and Design)
|
Registered |
33603163 |
33603163 |
4 |
VRB
ENERGY INC. |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Design)
|
Registered |
40209508 |
40209508 |
7 |
VRB
ENERGY INC. |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS (and Design)
|
Registered |
40209509 |
40209509 |
1 |
VRB
ENERGY INC. |
China |
VRB ENERGY VANADIUM REDOX BATTERY SOLUTIONS
|
Registered |
40209505 |
40209505 |
37 |
VRB
ENERGY INC. |
China |
VRB ENERGY
|
Registered |
42696955 |
42696955 |
9 |
VRB
ENERGY INC. |
China |
VRB ENERGY & Design
|
Registered |
36714844 |
36714844 |
6 |
VRB
ENERGY INC. |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
China |
VRB ENERGY & Design
|
Registered |
36518057 |
36518057 |
9 |
VRB
ENERGY INC. (Cayman Island) |
China |
|
Published
on Jun 13, 2024 |
77735432 |
|
1 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77742632 |
|
6 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77754127 |
|
17 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77746229 |
|
7 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77736346 |
|
9 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77746250 |
|
11 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77760888 |
|
37 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77745766 |
|
4 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77754916 |
|
1 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77752231 |
|
6 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77731194 |
|
7 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77731278 |
|
9 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77755412 |
|
11 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77755271 |
|
17 |
VRB
ENERGY INC. |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
China |
|
Published
on Jun 13, 2024 |
77740687 |
|
37 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77752937 |
|
4 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77750062 |
|
1 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77750265 |
|
6 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77757347 |
|
7 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77753371 |
|
9 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77757241 |
|
17 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77761337 |
|
11 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77753435 |
|
37 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77736381 |
|
4 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77754971 |
|
1 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77760868 |
|
7 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77748572 |
|
6 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77747568 |
|
9 |
VRB ENERGY
INC. |
China |
|
Published
on Jun 13, 2024 |
77754994 |
|
11 |
VRB ENERGY
INC. |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
China |
|
Published
on Jun 13, 2024 |
77753421 |
|
17 |
VRB
ENERGY INC. |
China |
|
Published
on Jun 13, 2024 |
77740742 |
|
37 |
VRB ENERGY
INC. |
India |
VRB ENERGY (and Design)
|
Registered |
4103374 |
4103374 |
9 |
VRB ENERGY
INC. |
India |
VRB MW-ESS |
Registered |
1971562 |
1971562 |
9 |
VRB ENERGY
INC. |
India |
VRB ENERGY (and Chinese Characters Design)
|
Registered |
4103375 |
4103375 |
9 |
VRB ENERGY
INC. |
International
Bureau (WIPO) |
VRB ENERGY & Design
|
Registered |
97361130 |
1702772A
(Thailand and Vietnam designations; child registration of IR No.
1702772) |
9 |
VRB Energy
Inc. |
International
Bureau (WIPO) |
VRB KW-ESS |
Registered |
1058676 |
1058676A
(Korea and Kenya designations; child registration of IR No. 1058676) |
9 |
VRB Energy
Inc. |
International
Bureau (WIPO) |
VRB MW-ESS |
Registered |
1052723 |
1052723
(China designation only; entire IR) |
9 |
VRB Energy
Inc. |
International
Bureau (WIPO) |
VRB MW-ESS |
Registered |
1059221 |
1059221
(Kenya designation only; entire IR) |
9 |
VRB Energy
Inc. |
Japan |
VRB ENERGY & Design
|
Registered |
2019-031766 |
6156814 |
9 |
"VRB ENERGY INC. (UNKNOWN)
ブイアールビー エネルギー インコーポレイテッド
" |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
Japan |
VRB ENERGY & Design
|
Registered |
2019-031767 |
6156815 |
9 |
"VRB ENERGY INC. (UNKNOWN)
ブイアールビー エネルギー インコーポレイテッド
" |
Republic
of Korea |
VRB
MW-ESS |
Registered |
40-2010-0035543 |
40-0892337-0000 |
9 |
VRB Energy
Inc. |
Republic
of Korea |
VRB KW-ESS |
Registered |
1058676
(IR No. 1058676) |
1058676
(IR No. 1058676) |
9 |
VRB Energy
Inc. |
Thailand |
VRB ENERGY & Design
|
Pending |
230102499
(IR No. 1702772) |
1702772
(IR No. 1702772) |
9 |
VRB Energy
Inc. |
Indonesia |
VRB MW-ESS |
Registered |
D002010025479 |
IDM000330544 |
9 |
VRB Energy Inc.
JD Holding Inc. |
Vietnam |
VRB ENERGY & Design
|
Abandoned |
1702772
(IR No. 1702772) |
1702772
(IR No. 1702772) |
9 |
VRB Energy
Inc. |
South
Africa |
Heartbeat Logo
|
Abandoned |
200407710 |
200407710 |
9 |
VRB Energy
Inc. |
South
Africa |
VRB |
Registered |
200407881 |
200407881 |
9 |
VRB Energy
Inc. |
South
Africa |
VRB KW-ESS |
Registered |
201026231 |
201026231 |
9 |
VRB Energy
Inc. |
South
Africa |
VRB MW-ESS |
Registered |
201010979 |
201010979 |
9 |
VRB Energy
Inc. |
South
Africa |
VRB-ESS |
Registered |
200407882 |
200407882 |
9 |
VRB Energy
Inc. |
Kenya |
VRB KW-ESS |
Registered |
1058676
(IR No. 1058676) |
1058676
(IR No. 1058676) |
9 |
VRB Energy Inc.
JD Holding Inc. |
Kenya |
VRB MW-ESS |
Registered |
1059221
(IR No. 1059221)
|
1059221
(IR No. 1059221)
|
9 |
VRB Energy Inc.
JD Holding Inc. |
SECTION 3.8.3
VRB Cayman Registered Patents
Owned by VRB Cayman
第
3.8.3 条
VRB开曼注册专利
由VRB开曼拥有
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
United
States of America |
SYSTEM AND
METHOD FOR OPTIMIZING EFFICIENCY AND POWER OUTPUT FROM A VANADIUM REDOX BATTERY ENERGY STORAGE SYSTEM |
11032280 |
Jan 10,
2005 |
8277964 |
VRB Energy
Inc. |
United
States of America |
POWER GENERATION
SYSTEM INCORPORATING A VANADIUM REDOX BATTERY AND A DIRECT CURRENT WIND TURBINE GENERATOR |
11035922 |
Jan 14,
2005 |
7265456 |
VRB Energy
Inc. |
United
States of America |
VANADIUM
REDOX BATTERY ENERGY STORAGE AND POWER GENERATING SYSTEM INCORPORATING AND OPTIMIZING DIESEL ENGINE GENERATORS |
11035466 |
Jan 14,
2005 |
7353083 |
VRB Energy
Inc. |
United
States of America |
METHOD FOR
RETROFITTING WIND TURBINE FARMS |
11048388 |
Feb 1, 2005 |
7227275 |
VRB Energy
Inc. |
United
States of America |
TELECOMMUNICATION
SYSTEM INCORPORATING A VANADIUM REDOX BATTERY ENERGY STORAGE SYSTEM |
11341770 |
Jan 27,
2006 |
7181183 |
VRB Energy
Inc. |
United
States of America |
SYSTEM AND
METHOD FOR A SELF-HEALING GRID USING DEMAND SIDE MANAGEMENT TECHNIQUES AND ENERGY STORAGE |
11377034 |
Mar 16,
2006 |
7184903 |
VRB Energy
Inc. |
United
States of America |
SYSTEM AND
METHOD FOR A SELF-HEALING GRID USING DEMAND SIDE MANAGEMENT TECHNIQUES AND ENERGY STORAGE |
11584897 |
Oct 23,
2006 |
7389189 |
VRB Energy
Inc. |
United
States of America |
INHERENTLY
SAFE REDOX FLOW BATTERY STORAGE SYSTEM |
11716120 |
Mar 9, 2007 |
7517608 |
VRB Energy
Inc. |
United
States of America |
VANADIUM
REDOX BATTERY INCORPORATING MULTIPLE ELECTROLYTE RESERVOIRS |
11728521 |
Mar 26,
2007 |
7740977 |
VRB Energy
Inc. |
United
States of America |
ELECTROCHEMICAL
BATTERY INCORPORATING INTERNAL MANIFOLDS |
11893929 |
Aug 17,
2007 |
7687193 |
VRB Energy
Inc. |
United
States of America |
ELECTROCHEMICAL
BATTERY INCORPORATING INTERNAL MANIFOLDS |
12197932 |
Aug 25,
2008 |
7682728 |
VRB Energy
Inc. |
United
States of America |
INTEGRATED
SYSTEM FOR ELECTROCHEMICAL ENERGY STORAGE SYSTEM |
12820972 |
Jun 22,
2010 |
10651492 |
VRB Energy
Inc. |
United
States of America |
SYSTEMS
AND METHODS FOR REDOX FLOW BATTERY SCALABLE MODULAR REACTANT STORAGE |
12975709 |
Dec 22,
2010 |
8709629 |
VRB Energy
Inc. |
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
United
States of America |
SYSTEMS
AND METHODS FOR ASSEMBLING REDOX FLOW BATTERY REACTOR CELLS |
13269362 |
Oct
7, 2011 |
10141594 |
VRB
Energy Inc. |
United
States of America |
VANADIUM
REDOX BATTERY ENERGY STORAGE SYSTEM |
13332002 |
Dec 20,
2011 |
9853454 |
VRB Energy
Inc. |
United
States of America |
SYSTEM AND
METHOD FOR OPTIMIZING EFFICIENCY AND POWER OUTPUT FROM A VANADIUM REDOX BATTERY ENERGY STORAGE SYSTEM |
13605771 |
Sep 6, 2012 |
9853306 |
VRB Energy
Inc. |
Mexico |
TELECOMMUNICATION
SYSTEM INCORPORATING A VANADIUM REDOX BATTERY ENERGY STORAGE SYSTEM |
MXa2008009345 |
Oct 24,
2006 |
283056 |
VRB Energy
Inc. |
Mexico |
SYSTEMS
AND METHODS FOR ASSEMBLING REDOX FLOW BATTERY REACTOR CELLS |
MXa2014003414 |
Sep 14,
2012 |
358374 |
VRB Energy
Inc. |
Chile |
INHERENTLY
SAFE REDOX FLOW BATTERY STORAGE SYSTEM |
29922007 |
Oct 18,
2007 |
46.336 |
VRB Energy
Inc. |
VRB Cayman Registered Trademarks
Owned by VRB Cayman
VRB开曼注册商标
由VRB开曼拥有
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
Australia |
Heartbeat Logo
|
Registered |
1007859 |
1007859 |
9 |
VRB
Energy Inc. |
Australia |
VRB |
Registered |
1007860 |
1007860 |
9 |
VRB
Energy Inc. |
Australia |
VRB ENERGY (and Chinese Characters Design)
|
Registered |
1992616 |
1992616 |
9 |
VRB
Energy Inc. |
Australia |
VRB ENERGY (and Design)
|
Registered |
1992617 |
1992617 |
9 |
VRB
Energy Inc. |
Australia |
VRB ENERGY
STORAGE SYSTEM |
Registered |
1007861 |
1007861 |
9 |
VRB
Energy Inc. |
Australia |
VRB MW-ESS |
Registered |
1370581 |
1370581 |
9 |
VRB
Energy Inc. |
Australia |
VRB POWER |
Registered |
1007858 |
1007858 |
9 |
VRB
Energy Inc. |
Australia |
VRB-ESS |
Registered |
1007862 |
1007862 |
9 |
VRB
Energy Inc. |
Australia |
VRB KW-ESS |
Registered |
1399866 |
1399866 |
9 |
VRB
Energy Inc. |
Canada |
Heartbeat Logo
|
Registered |
1212146 |
TMA697644 |
9 |
VRB
Energy Inc. |
Canada |
PRUDENT ENERGY VRB SYSTEMS & Design
|
Registered |
1484844 |
TMA806983 |
9 |
VRB
Energy Inc. |
Canada |
VRB ENERGY & Design
|
Pending |
2229697
(IR No. 1702772) |
1702772
(IR No. 1702772) |
9 |
VRB
Energy Inc. |
Canada |
VRB |
Registered |
1212151 |
TMA694908 |
9 |
VRB
Energy Inc. |
Canada |
VRB MW-ESS |
Registered |
1484843 |
TMA807017 |
9 |
VRB
Energy Inc. |
Canada |
VRB-ESS |
Registered |
1212149 |
TMA695019 |
9 |
VRB
Energy Inc. |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
Canada |
VRB ENERGY (and Chinese Characters Design)
|
Registered |
1948726 |
TMA1209131 |
9 |
VRB
Energy Inc. |
Canada |
VRB ENERGY & Design
|
Registered |
1948725 |
TMA1209132 |
9 |
VRB Energy
Inc. |
Chile |
VRB MW-ESS |
Registered |
906486 |
903936 |
9 |
VRB Energy
Inc. |
European
Union |
VRB ENERGY & Design
|
Registered |
1702772
(IR No. 1702772) |
1702772
(IR No. 1702772) |
9 |
VRB Energy
Inc. |
European
Union |
VRB MW-ESS |
Registered |
009126814 |
009126814 |
9 |
VRB Energy
Inc. |
European
Union |
VRB KW-ESS |
Registered |
1058676
(IR No. 1058676) |
1058676
(IR No. 1058676) |
9 |
VRB Energy
Inc. |
European
Union |
VRB ENERGY & Design
|
Registered |
018028815 |
018028815 |
9 |
VRB Energy
Inc. |
European
Union |
VRB ENERGY (and Chinese Characters Design)
|
Registered |
018028793 |
018028793 |
9 |
VRB Energy
Inc. |
International
Bureau (WIPO) |
Heartbeat Logo
|
Registered |
840388 |
840388
(UK designation only; entire IR) |
9 |
VRB Energy
Inc. |
International
Bureau (WIPO) |
VRB |
Registered |
840390 |
840390
(Mexico and UK designations; entire IR) |
9 |
VRB Energy
Inc. |
International
Bureau (WIPO) |
VRB ENERGY & Design
|
Registered |
1702772
|
1702772
(Canada, EU, and UK designations; parent of IR No. 1702772A) |
9 |
VRB Energy
Inc. |
International
Bureau (WIPO) |
VRB-ESS |
Registered |
840386 |
840386
(Mexico and UK designations; entire IR) |
9 |
VRB Energy
Inc. |
International
Bureau (WIPO) |
VRB ENERGY
STORAGE SYSTEM |
Registered |
840389 |
840389
(Mexico and UK designations; entire IR) |
9 |
VRB Energy
Inc. |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
International Bureau (WIPO) |
VRB
KW-ESS |
Registered |
1058676 |
1058676
(EU, Switzerland, Turkey, and UK designations; parent of IR No.
1058676A) |
9 |
VRB
Energy Inc. |
Mexico |
VRB |
Registered |
1497286
(IR No. 840390) |
1512833
(IR No. 840390) |
9 |
VRB Energy
Inc. |
Mexico |
VRB-ESS |
Registered |
1489742
(IR No. 840386) |
1505711
(IR No. 840386) |
9 |
VRB Energy
Inc. |
Mexico |
VRB ENERGY
STORAGE SYSTEM |
Lapsed |
1489775
(IR. No. 840389) |
1505732
(IR. No. 840389) |
9 |
VRB Energy
Inc. |
Switzerland |
VRB KW-ESS |
Registered |
1058676
(IR No. 1058676) |
1058676
(IR No. 1058676) |
9 |
VRB Energy
Inc. |
Turkey |
VRB MW-ESS |
Registered |
201047696 |
201047696 |
9 |
VRB Energy
Inc. |
Turkey |
VRB KW-ESS |
Registered |
1058676
(IR No. 1058676) |
1058676
(IR No. 1058676) |
9 |
VRB Energy
Inc. |
United
Kingdom |
Heartbeat Logo
|
Registered |
840388
(IR No. 840388) |
840388
(IR No. 840388) |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB |
Registered |
840390
(IR No. 840390) |
840390
(IR No. 840390) |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB ENERGY & Design
|
Registered |
1702772
(IR No. 1702772) |
1702772
(IR No. 1702772) |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB-ESS |
Registered |
840386
(IR No. 840386) |
840386
(IR No. 840386) |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB MW-ESS |
Registered |
UK00909126814 |
UK00909126814 |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB POWER |
Registered |
2536715 |
2536715 |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB ENERGY
STORAGE SYSTEM |
Registered |
840389
(IR No. 840389) |
840389
(IR No. 840389) |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB KW-ESS |
Registered |
UK00801058676
(IR No. 1058676) |
UK00801058676
(IR No. 1058676) |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB ENERGY & Design
|
Registered |
UK00918028815 |
UK00918028815 |
9 |
VRB Energy
Inc. |
United
Kingdom |
VRB ENERGY (and Chinese Characters Design)
|
Registered |
UK00918028793 |
UK00918028793 |
9 |
VRB Energy
Inc. |
United
States of America |
VRB |
Registered |
76/570,858 |
3098573 |
9 |
VRB Energy
Inc. |
Country |
Mark |
Status |
Application
No. |
Registration
No. |
Class |
Owner |
United States
of America |
VRB ENERGY & Design
|
Allowed |
97/361,130 |
|
9 |
VRB
Energy Inc. |
United
States of America |
VRB-ESS |
Registered |
76/570,857 |
3098572 |
9 |
VRB
Energy Inc. |
United
States of America |
VRB ENERGY (and Chinese Characters Design)
|
Allowed |
97/361,136 |
|
9 |
VRB
Energy Inc. |
SECTION 3.8.4
VRB China Registered Patents
To Be Assigned To VRB Cayman
第
3.8.4 条
VRB中国注册专利
将转让给VRB开曼
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
United
States of America |
METHOD FOR
RECOVERING CAPACITY OF VANADIUM REDOX FLOW BATTERY |
18679153 |
May 30,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
FLOW BATTERY
TESTING DEVICE |
18744315 |
Jun 14,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
BIPOLAR
PLATE FOR FLOW BATTERY AND FLOW BATTERY |
18744285 |
Jun 14,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
INSULATING
PROTECTIVE MECHANISM, CONVEYING APPARATUS, AND FLOW BATTERY ENERGY STORAGE SYSTEM |
18742684 |
Jun 13,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
DEVICE FOR
TESTING GAS TIGHTNESS OF BIPOLAR PLATE |
18744245 |
Jun 14,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
ELECTROLYTE
STORAGE TANK |
18742737 |
Jun 13,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
FLOW BATTERY
CLEANING APPARATUS, METHOD, AND SYSTEM |
18756901 |
Jun 27,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
FLOW BATTERY
DEGASSING DEVICE, DEGASSING METHOD, SYSTEM AND STORAGE MEDIUM |
18741180 |
Jun 12,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
BIPOLAR
PLATE AND CURRENT COLLECTOR PLATE OF FLOW BATTERY |
18756343 |
Jun 27,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
ALL-VANADIUM
REDOX FLOW BATTERY SYSTEM |
18742653 |
Jun 13,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
METHOD AND
SYSTEM OF IMPLEMENTING ELECTROLYTE MONITORING, COMPUTER STORAGE MEDIUM, AND TERMINAL |
18777117 |
Jul 18,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
CONDUCTIVE
PASTE, PREPARATION METHOD THEREFOR, COMPOSITE ELECTRODE, AND FLOW BATTERY |
18750339 |
Jun 21,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
BIPOLAR
PLATE STRUCTURE, METHOD OF MANUFACTURING SAME, AND FLOW BATTERY |
18750309 |
Jun 21,
2024 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
Country |
Title |
Application
No. |
Date
Filed |
Patent
No. |
Owner |
United States of America |
Flow
Battery |
18750299 |
Jun
21, 2024 |
|
VRB
Energy Operations (Beijing) Co. Ltd. |
United
States of America |
REDOX FLOW
BATTERY AND METHOD FOR OPERATING THE BATTERY CONTINUOUSLY IN A LONG PERIOD OF TIME |
12810950 |
Dec 14,
2009 |
10608274 |
Beijing
Pu Neng Century Sci & Tech Co., Ltd. |
United
States of America |
POLYMER
BLEND PROTON EXCHANGE MEMBRANE AND METHOD FOR MANUFACTURING THE SAME |
12821961 |
Jun 23,
2010 |
8486579 |
Beijing
Pu Neng Century Sci & Tech Co., Ltd. |
United
States of America |
POLYMER
BLEND PROTON EXCHANGE MEMBRANE AND METHOD FOR MANUFACTURING THE SAME |
13934046 |
Jul 2, 2013 |
10923754 |
Beijing
Pu Neng Century Sci & Tech Co., Ltd. |
United
States of America |
VANADIUM
CELL SOC BALANCED SYSTEM |
18051478 |
Oct 31,
2022 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
DISTRIBUTED
LARGE-SCALE SYSTEM OF ALL-VANADIUM REDOX FLOW BATTERY |
18051479 |
Oct 31,
2022 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
VANADIUM
BATTERY SOC BALANCE SYSTEM STRUCTURE AND CONTROL METHOD THEREOF |
18145778 |
Dec 22,
2022 |
|
VRB Energy
Operations (Beijing) Co. Ltd. |
United
States of America |
METHOD FOR
PREPARING VANADIUM ELECTROLYTE FOR ALL-VANADIUM REDOX FLOW BATTERY |
18157013 |
Jan 19,
2023 |
|
VRB Energy Operations (Beijing) Co. Ltd.
Beijing Pu Neng Century Sci & Tech Co., Ltd. |
United
States of America |
METHOD AND
DEVICE FOR ACCURATELY CONTROLLING REDUCTION VALENCE STATE OF HIGH-PURITY VANADIUM PENTOXIDE |
18157014 |
Jan 19,
2023 |
|
VRB Energy Operations (Beijing) Co. Ltd.
Beijing Pu Neng Sci & Tech Co., Ltd.
Beijing Pu Neng Century Sci & Tech Co., Ltd. |
United
States of America |
BATTERY
MANAGEMENT SYSTEM OF FLOW BATTERY |
18171855 |
Feb 21,
2023 |
|
VRB Energy Operations (Beijing) Co. Ltd.
Beijing Pu Neng Sci & Tech Co., Ltd.
Beijing Pu Neng Century Sci & Tech Co., Ltd. |
VRB China Registered Trademarks
To Be Assigned To VRB Cayman
VRB中国注册商标
将转让给VRB开曼
(none)
(无)
SECTION 3.8.6
第
3.8.6 条
See the disclosures made in Section 3.7 of the Disclosure Schedule
见披露附表第3.7条中的披露
EXHIBIT A
附件
A
JOINT VENTURE AGREEMENT
《合资协议》
EXHIBIT B
附件
B
COOPERATION AGREEMENT
《合作协议》
EXHIBIT C
附件C
TRANSITION PLAN
过渡计划
EXHIBIT D
附件D
CHINA ETA
中国ETA
Exhibit 10.2
VRB CHINA JOINT
VENTURE AGREEMENT
VRB中国合资协议
by and among
由
vrb
energy system (beijing) co., ltd.
普能(北京)能源科技有限公司
and
与
vrb
enERGY inc.
and
以及
CHINA ENERGY
STORAGE INDUSTRY CO., LTD.
中能储实业有限公司
dated as of October 15, 2024
日期:2024
年 月 日
TABLE OF CONTENTS
Article 1
DEFINITIONS AND INTERPRETATION |
2 |
|
|
1.1 |
Definitions |
2 |
1.2 |
Interpretation |
12 |
1.3 |
Conflict |
13 |
1.4 |
Equity Interests Covered by this Agreement |
13 |
|
|
|
Article 2
PRE-COMPLETION GOVERNANCE AND OPERATIONS |
14 |
|
|
2.1 |
VRB Cayman Control |
14 |
2.2 |
Pre-Completion Covenants and Obligations |
14 |
2.3 |
Application of Agreement in Pre-Completion Period |
14 |
|
|
|
Article 3
JOINT VENTURE GOVERNANCE |
15 |
|
|
3.1 |
Joint Venture Governance |
15 |
3.2 |
Conduct of the Business |
15 |
3.3 |
Board of Directors |
15 |
3.4 |
Officers |
21 |
3.5 |
Shareholders |
25 |
3.6 |
Capital Reduction |
|
|
|
|
Article 4
ACCOUNTING AND FINANCING |
25 |
|
|
4.1 |
Budgeting |
25 |
4.2 |
Existing Financing Obligations |
26 |
4.3 |
Additional Financing |
27 |
4.4 |
Shareholder Loans |
30 |
4.5 |
Capital Contributions |
30 |
4.6 |
Financing |
31 |
4.7 |
Accounting, Auditing and Insurance |
31 |
|
|
|
Article 5
RIGHTS AND OBLIGATIONS OF THE SHAREHOLDERS |
33 |
|
|
5.1 |
Information Rights |
33 |
5.2 |
Confidentiality |
35 |
5.3 |
Press Releases |
39 |
5.4 |
Competitive Activity |
39 |
|
|
|
Article 6
TRANSFER RESTRICTIONS |
41 |
|
|
6.1 |
General Prohibition on Transfers |
41 |
6.2 |
No Transfers to Competitors |
41 |
6.3 |
Transfers to Permitted Transferees |
41 |
6.4 |
Rights of First Refusal |
42 |
6.5 |
Tag-Along Rights |
43 |
Article 7
TAXES |
45 |
|
|
7.1 |
Shareholder Responsibility |
45 |
7.2 |
Tax Receipts |
45 |
|
|
|
Article 8
BREACH |
46 |
|
|
8.1 |
Default |
46 |
8.2 |
Default Notice |
46 |
8.3 |
Effect of Default |
47 |
|
|
|
Article 9
COMPLIANCE WITH LAW |
47 |
|
|
9.1 |
Sanctions and Anti-Corruption Laws |
47 |
9.2 |
Sanctioned Customers |
48 |
|
|
|
Article 10
MISCELLANEOUS |
48 |
|
|
10.1 |
Governing Law |
48 |
10.2 |
Language |
48 |
10.3 |
Termination |
49 |
10.4 |
Dispute Resolution |
49 |
10.5 |
Successors and Assigns |
49 |
10.6 |
Notices |
49 |
10.7 |
Costs of Enforcement |
50 |
10.8 |
Amendments and Waivers |
51 |
10.9 |
Severability |
51 |
10.10 |
Compliance with Agreement |
51 |
10.11 |
Delays or Omissions |
51 |
10.12 |
Entire Agreement |
52 |
VRB
CHINA JOINT VENTURE AGREEMENT
VRB中国合资协议
THIS VRB CHINA JOINT VENTURE
AGREEMENT (this “Agreement”) is made and entered into October 15, 2024 (the “Effective Date”),
by and among VRB ENERGY SYSTEM (BEIJING) CO., LTD., a wholly foreign-owned enterprise also known as Pu Neng (Beijing) Energy Technology
Co., Ltd. and registered in Beijing, PRC and existing under the laws of the PRC (the “VRB China”), VRB ENERGY
INC., a corporation existing under the laws of the Cayman Islands (“VRB Cayman”), and China Energy Storage Industry
Co., Ltd., a company registered in Beijing, PRC and existing under the laws of the PRC (“CES”). VRB China, VRB
Cayman, and CES may be referred to herein individually as a “Party” and collectively as the “Parties.”
本VRB中国合资协议(本“协议”)于2024年[
]月[ ]日(“生效日”)由以下各方之间签署:VRB
Energy System (Beijing) Co., Ltd.,也称普能(北京)能源科技有限公司,一家在中国北京注册并依据中国法律存续的外商独资企业,简称“VRB中国”;VRB
ENERGY INC.,一家依据开曼群岛法律存续的公司,简称“VRB开曼”;和中能储实业有限公司,一家在中国北京注册并依据中国法律存续的公司,简称“中能储”。VRB中国、VRB开曼和中能储在本协议中单称“一方”,合称“各方”。
RECITALS
前言
A. Pursuant
to that certain Purchase, Sale and Investment Agreement of even date herewith by and among the Parties (the “Purchase Agreement”),
on the Control Acquisition Date CES shall acquire a fifty-one percent (51%) Equity Interest (the “Target Equity”)
for the consideration and subject to the terms of the Purchase Agreement, and VRB Cayman shall retain the remaining forty-nine (49%)
Equity Interest.
根据各方于本协议签署日签署的《购买、销售和投资协议》(“购买协议”),中能储应于控制权取得日依据购买协议条款收购百分之五十一(51%)的股权(“目标股权”),作为购买协议的对价,VRB开曼应保留剩余的百分之四十九(49%)股权。
B. The
Parties desire to enter into this Agreement to set forth the terms under which CES and VRB Cayman shall collectively own, manage, supervise,
and operate VRB China.
各方有意签订本协议,载明协议条款,根据该等条款,中能储和VRB开曼应共同拥有、管理、监督并运营VRB中国。
C. The
execution and delivery of this Agreement is a condition to the execution of the Purchase Agreement.
本协议的签署和交付是签署购买协议的前提条件。
AGREEMENT
协议
NOW,
THEREFORE, for and in consideration of the payments prescribed in the Purchase Agreement, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged and confirmed, and the mutual promises, covenants, and conditions herein
contained and recited, the Parties agree as follows:
兹鉴于购买协议中规定的付款对价及其他充分有效对价,特此承认且确认业已足额收讫对价,以及本协议下文所列的相互承诺、约定和条件,各方约定如下:
Article 1
DEFINITIONS AND INTERPRETATION
第1条
定义与释义
1.1 Definitions.
For the purposes of this Agreement, unless there is something in the subject matter or context inconsistent therewith, the following
words and expressions shall have the following meanings:
定义.
本协议中,除非主题或上下文不一致,以下词语和表述具有以下含义:
“Accepted Equity Interest”
has the meaning set forth in Section 6.4.2.
“已接受股权”具有第6.4.2条中所述的含义。
“Additional Financing”
has the meaning set forth in Section 4.3.1.
“额外融资”具有第4.3.1条中所述的含义。
“Additional Financing
Notice” has the meaning set forth in Section 4.3.4
“额外融资通知”具有第4.3.4条中所述的含义。
“Affiliate”
means, with respect to any specified Person, any other Person who, directly or indirectly, Controls, is Controlled by, or is under
common Control with such Person, including, without limitation, any general partner, managing member, officer, supervisor, executive,
director, or trustee of such Person.
“关联方”就任何特定人士而言,是指直接或间接控制该人士、受该人士控制或与该人士受共同控制的任何其他人士,包括但不限于该人士的任何一般合伙人、管理成员、高级职员、监事、高管、董事或受托人。
“Agreement”
has the meaning set forth in the Preamble.
“协议”具有前言中所述的含义。
“Annual
Budget” means a Budget for each Financial Year of VRB China, including, the Annual Budget for the remainder of Financial Year
2024 and the Annual Budget for Financial Year 2025 that have been approved by the Parties as of the Effective Date pursuant to the Transition
Plan and each subsequent Annual Budget that is approved by the Parties after the Control Acquisition Date pursuant to the terms
of this Agreement.
“年度预算”指VRB中国每个财政年度的预算,包括各方根据《过渡计划》于生效日批准的
2024 财政年度剩余时间的年度预算和
2025 财政年度的年度预算,以及各方根据本协议条款于控制权取得日后批准的各后续年度预算。
“Anti-Corruption Laws”
shall mean all laws, rules and regulations of any jurisdiction applicable to any Shareholder and/or its Affiliates concerning or
relating to bribery or corruption.
“反腐败法"是指适用于任何股东和/或其关联方的、涉及或与贿赂或腐败有关的任何司法管辖区的所有法律、规则和法规。
“Board”
has the meaning set forth in Section 3.3.1.
“董事会”具有第3.3.1条中所述的含义。
“Budget”
means a description in reasonable detail of the operations to be conducted and the objectives to be accomplished by VRB China for a given
period together with a detailed estimate of all sales revenues and other income to be received by, and all operating and capital costs
to be incurred by, VRB China, and, if applicable, a detailed description of any funding requirements and whether such funding will be
provided through equity or debt financings.
“预算”指对VRB中国在特定期间内要开展的业务和要实现的目标的合理详细描述,以及对
VRB 中国将获得的所有销售收入和其他收入以及将产生的所有运营成本和资金成本的详细估算,以及(如适用)对任何资金需求以及是否将通过股权或债务融资提供该等资金的详细描述。
“Business”
means the business of building, developing, manufacturing, selling, and researching and developing vanadium redox flow batteries and
upstream components, including electrolyte production, but solely in the VRB China Areas.
“业务”指建造、开发、制造、出售和研发全钒液流电池及上游组件(包括电解液生产)的业务,但仅限于在VRB中国区域开展上述业务。
“Business Day”
means any day except Saturday, Sunday, or any other day on which commercial banks in Beijing, PRC are authorized or required by law to
be closed for business.
“工作日”指除星期六、星期日或中国北京市的商业银行依法被授权或要求停止营业的其他日子以外的任何一天。
“Capital Contribution”
has the meaning set forth in Section 4.3.1.
“出资”具有第4.3.1条中所述的含义。
“CES” has
the meaning set forth in the Preamble.
“中能储”具有前言中所述的含义。
“CES Director”
and “CES Directors” have the meaning set forth in Section 3.3.4(a).
“中能储董事”具有第3.3.4(a)条中所述的含义。
“Chairman”
means the Chairman of the Board.
“董事长”指董事会主席。
“Competitor”
means any Person whose business is predominantly in the manufacture of flow batteries anywhere in the world, including, without limitation,
Dalian Rongke, Beijing Star, Shanghai Electric, Sumitomo Electric, Redflow, and Weilide, in each case subject to applicable U.S. antitrust
laws.
“竞争对手”指在世界上任何地方以制造液流电池为主营业务的任何人士,包括但不限于大连融科、北京星辰、上海电气、住友电工、Redflow和伟力得,在任何情况下须遵守适用的美国反垄断法。
“Control
Acquisition Date” has its meaning set forth in the Purchase Agreement.
“控制权取得日”具有购买协议中所述的含义。
“Control”
means, with respect to a Person, the power or authority, whether exercised or not, to direct the business, management and policies of
such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; provided, that such
power or authority shall conclusively be presumed to exist upon possession of beneficial ownership or power to direct the vote of more
than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control
the composition of a majority of the board of directors of such Person. The terms “Controlled” and “Controlling”
have meanings correlative to the foregoing.
“控制”,就某一人士而言,指直接或间接决定该人士经营、管理和政策的权力或授权,无论是否行使,无论是否通过拥有有投票权的证券、通过合同约定或以其他方式;但在拥有受益所有权或有权在该人士成员或股东会上指导百分之五十(50%)以上有表决权的票数或有权控制该人士董事会大多数成员组成时,应最终推定存在该等权力或授权。“受控制”及该词在英文文本中的其他动词形态应具有上述相关含义。
“Confidential Information”
has the meaning set forth in Section 5.2.1(a).
“保密信息”具有第5.2.1(a)条中所述的含义。
“Cooperation
Agreement” means that certain Cooperation Agreement of even date herewith by and among VRB China, VRB Cayman, VRB USA, and
CES, a copy of which is attached hereto as Exhibit A.
“合作协议”指本协议签署日由VRB中国、VRB开曼、VRB美国和中能储之间签署的《合作协议》,《合作协议》副本附于本协议附件A。
“Current
Budget” and “Current Budgets” have the meaning set forth in Section 4.2.2.
“当前预算”具有第4.2.2条中所述的含义。
“Default”
has the meaning set forth in Section 8.1.
“违约”具有第8.1条中所述的含义。
“Default Notice”
has the meaning set forth in Section 8.2.
“违约通知”具有第8.2条中所述的含义。
“Defaulting Shareholder”
has the meaning set forth in Section 8.1.
“违约股东”具有第8.1条中所述的含义。
“Director”
and “Directors” has the meaning set forth in Section 3.3.3.
“董事”具有第3.3.3条中所述的含义。
“Effective Date”
has the meaning set forth in the Preamble.
“生效日”具有前言中所述的含义。
“Equity Interest”
means any equity ownership interest in VRB China, expressed as a percentage and determined by the Parties as set forth in this Agreement.
“股权”指VRB中国的任何股权所有权。
“Financial Year”
means the financial year of VRB China, which as of the Effective Date is the period commencing on 1 January and ending on
31 December of each year.
“财政年度”指VRB中国的财政年度,自生效日起,为每年1月1日起至12月31日止的期间。
“Funding Shareholder”
has the meaning set forth in Section 4.3.5.
“出资股东”具有第4.3.5条中所述的含义。
“Governmental Authority”
means (i) any national, state, regional, county, city, municipal or local government, whether foreign or domestic, (ii) governmental
or quasi-governmental authority of any nature, including any regulatory or administrative agency, commission, department, board, bureau,
court, tribunal, arbitrator, arbitral body, agency, branch, official entity or other administrative or regulatory body obtaining authority
from any of the foregoing, including courts, public utilities, sewer authorities and any supra-national organization, state, county,
city or other political subdivision, or (iii) any other Person, exercising or entitled to exercise, any administrative, executive,
judicial, legislative, police, regulatory or taxing authority or power of any nature.
“政府机关”指(i)任何国家、州、地区、县、市、市政或地方政府,不论是外国政府还是国内政府,(ii)任何性质的政府或准政府机关,包括任何监管或行政机构、委员会、部门、董事会、局、法院、法庭、仲裁员、仲裁机构、代理机构、分支机构、官方实体或从上述任何机构获得权力的其他行政或监管机构,包括法院、公共事业、污水处理部门和任何超国家组织、州、县、市或其他政治分支机构,或(iii)行使或有权行使任何性质的管理、行政、司法、立法、警察、监管或税收职权或权力的任何其他人士。
“Intellectual Property”
means any of the following: (i) trademarks, service marks, trade names, and similar indicia of source or origin, all registrations
and applications for registration thereof, and the goodwill connected with the use of and symbolized by the foregoing; (ii) copyrights
and all registrations and applications for registration thereof; (iii) trade secrets and know-how; (iv) patents and patent
applications; (v) internet domain name registrations; and (vi) other intellectual property and related proprietary rights.
“知识产权”指以下任何一项:(i)商标、服务标记、商业名称和类似的来源或原产地标记、所有注册和注册申请、以及与使用前述内容有关并由前述内容象征的商誉;(ii)著作权以及所有注册和注册申请;(iii)商业秘密和专有技术;(iv)专利和专利申请;(v)互联网域名注册;以及(vi)其他知识产权和相关专有权利。
“Insolvency
Event” means, with respect to any Shareholder: (i) any involuntary proceeding shall be commenced under any Law or any
involuntary petition shall be filed under any Law seeking liquidation, reorganization, or other relief in respect of the Shareholder,
its debts, or a substantial part of its assets, or the appointment of a receiver, trustee, custodian, sequestrator, conservator, or similar
official for the Shareholder or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue
undismissed for a period of ninety (90) days or an order or decree approving or ordering any of the foregoing shall be entered;
(ii) the Shareholder shall voluntarily commence any proceeding under any Law or file any petition under any Law seeking liquidation,
reorganization, or other relief in respect of the Shareholder, its debts, or a substantial part of its assets, or the appointment of
a receiver, trustee, custodian, sequestrator, conservator, or similar official for the Shareholder or for a substantial part of its assets;
(iii) the Shareholder shall make a general assignment for the benefit of creditors; (iv) the Shareholder shall be dissolved
and all or any substantial part of its assets shall be distributed to any Person that is not an Affiliate of the Shareholder; (v) an
event has taken place with respect to the Shareholder which would make it to be insolvent under any Laws applicable to it .
“破产事件”就任何股东而言,指:(i)根据任何法律启动任何非自愿程序,或根据任何法律提交任何非自愿申请,寻求有关股东、其债务或其大部分资产的清算、重组或其他救济,或为股东或其大部分资产指定接管人、受托人、保管人、扣押人、保全人或类似官员,且在任何此类情况下,该等程序或申请应在九十(90)天内持续未被驳回,或命令或法令批准或命令任何上述情况;(ii)股东自愿启动就任何法律规定的任何程序,或根据任何法律提出任何申请,寻求有关股东、其债务或其大部分资产的清算、重组或其他救济,或为股东或其大部分资产指定接管人、受托人、保管人、扣押人、保全人或类似官员;(iii)股东为债权人的利益进行全面转让;(iv)股东解散,其全部或任何大部分资产分配给非股东关联方的任何人士;(v)股东发生任何对其适用的法律规定的破产事件。
“Law” means
all applicable federal, state, local, municipal, tribal and foreign laws (statutory or common), rules, ordinances, regulations, grants,
concessions, franchises, licenses, orders, directives, judgments, decrees, and other governmental restrictions, including permits and
other similar requirements, whether legislative, municipal, administrative or judicial in nature.
“法律”指所有适用的联邦、州、地方、市、部落和外国法律(成文法或普通法)、规则、条例、法规、拨款、特许权、专营权、许可证、命令、指令、判决、法令和其他政府限制,包括许可证和其他类似要求,无论是立法、市政、行政还是司法性质的。
“Liquidation
Event” means, with respect to any Shareholder: (i) the dissolution of the Shareholder; (ii) a sale, merger, reorganization,
or other transaction or series of connected transactions in which a majority of the voting equity securities of the Shareholder are transferred
to a Person or group of Persons that did not hold a majority of the voting equity securities of the Shareholder immediately prior to
such transaction or series of connected transactions; or (iii) the sale, lease, transfer, or other disposition of all or
substantially all of the assets of the Shareholder to a Person or group of Persons that did not hold a majority of the voting equity
securities of the Shareholder immediately prior to such transaction.
“清算事件”就任何股东而言,指(i)股东解散;
(ii)出售、合并、重组或其他交易或一系列关联交易,其中股东的大部分有表决权的股本证券转让给该交易或一系列关联交易之前未持有股东大部分有表决权的股本证券的人士或人士集团,或
(iii)向在该交易之前未持有股东大部分有表决权的股本证券的人士或人士集团出售、出租、转让或以其他方式处置股东的全部或实质全部资产。
“Non-Confidential
Information” has the meaning set forth in Section 5.2.1(b).
“非保密信息”具有第5.2.1(b)条中所述的含义。
“Non-Funding Shareholder”
has the meaning set forth in Section 4.3.5.
“非出资股东”具有第4.3.5条中所述的含义。
“Offered Equity Interest”
has the meaning set forth in Section 6.4.2.
“要约股权”具有第 6.4.2.条中所述的含义。
“Offeree”
has the meaning set forth in Section 6.4.2.
“受要方”具有第6.4.2.条中所述的含义。
“Offeror”
has the meaning set forth in Section 6.4.2.
“要约方”具有第6.4.2.条中所述的含义。
“Party”
and “Parties” has the meaning set forth in the Preamble.
“一方”和“各方”具有前言中所述的含义
“Permitted Transferee”
has the meaning set forth in Section 6.3.
“获准受让方”具有第6.3.条中所述的含义。
“Person”
means any natural person, corporation, joint venture, partnership, limited liability partnership, limited partnership, limited liability
limited partnership, limited liability company, trust, estate, business trust, association, governmental authority or other entity.
“人士”是指任何自然人、公司、合资、合伙、有限责任合伙、有限合伙、有限责任有限合伙、有限责任公司、信托、遗产、商业信托、协会、政府机关或其他实体。
“PRC” means
the People’s Republic of China.
“中国”指中华人民共和国。
“PRC GAAP”
means the generally accepted accounting principles of the PRC.
“中国通用会计准则”指中国通用会计准则。
“Pre-Completion Period”
has the meaning set forth in Section 2.1.
“交割前期间”具有第 2.1条中所述的含义。
“Purchase Agreement”
has the meaning set forth in the Recitals.
“购买协议”具有前言中所述的含义。
“Quarterly Report”
has the meaning set forth in Section 5.1.2(a).
“季度报告”具有第 5.1.2(a)条中所述的含义。
“Receiving Party”
has the meaning set forth in Section 5.2.1(a).
“接收方”具有第 5.1.2(a)条中所述的含义。
“Representatives”
has the meaning set forth in Section 5.2.2(a)(i).
“代表”具有第 5.2.2(a)(i)条中所述的含义.
“ROFR” has
the meaning set forth in Section 6.4.1.
“ROFR”具有第6.4.1.条中所述的含义。
“Sanctioned Country”
means, at any time, a country, region or territory that is, or whose government is, the subject or target of any comprehensive Sanctions,
including, without limitation, Crimea, Cuba, Iran, North Korea and Syria.
“受制裁国家”指在任何时候作为或其政府作为任何全面制裁的对象或目标的国家、地区或区域,包括但不限于克里米亚、古巴、伊朗、朝鲜和叙利亚。
“Sanctioned Person”
means, at any time, (a) any Person that is the subject or target of any Sanctions by being identified on any Sanctions-related
list, (b) any Person located, organized, operating or resident in a Sanctioned Country or (c) any Person Controlled by any
such Person described in (a) and (b).
“受制裁人士”指在任何时候,(a)因被列入任何制裁相关名单而成为任何制裁对象或目标的任何人士,(b)位于、组建、运营或居住在受制裁国家的任何人士,或(c)任何由(a)和(b)项所述人士控制的任何人士。
“Sanctions”
shall mean economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S.
government, including those administered by OFAC or the U.S. Department of State, or (b) the United Nations Security Council, the
European Union or His Majesty’s Treasury of the United Kingdom.
“制裁”指:(a)美国政府,包括美国财政部海外资产控制办公室或美国国务院,或(b)联合国安理会、欧盟或英国财政部不时施加、管理或执行的经济或金融制裁或贸易禁运。
“Secretary”
means the secretary of the Board.
“董事会秘书”指董事会秘书。
“Shareholder”
and “Shareholders” means, as of the Effective Date, VRB Cayman, and, as of the Control Acquisition Date, each of VRB
Cayman and CES and their respective Permitted Transferees, and any other Person that becomes a holder of an Equity Interest and joins
and becomes a party to this Agreement.
“股东”截至生效日,指VRB开曼;截至控制权取得日,指VRB开曼和
中能储及其各自的获准受让方,以及成为股权持有人并加入和成为本协议一方的任何其他人士。
“Shareholder Loan”
has the meaning set forth in Section 4.3.1.
“股东贷款”具有第 4.3.1条中所述的含义。
“Subject Party”
has the meaning set forth in Section 5.2.1(a).
“标的方”具有第 5.2.1(a)条中所述的含义。
“Tag-Along Sale”
has the meaning set forth in Section 6.5.1.
“随售权出售”具有第6.5.1.条中所述的含义。
“Tax” or
“Taxes” means all foreign, federal, state, provincial, national, local and other taxes, fees, levies, duties and other
assessments or charges of whatever kind (including zakat, income, excise, customs duties, tariffs, stamp, transfer, property, occupancy,
value added, use, real estate, sales, payroll, gains, gross receipts, withholding and mining royalties or severance or other fees) together
with any commission, penalties, or additions payable in connection with such taxes, fees, levies, duties or other assessments or charges
imposed or collected by a Governmental Authority whether directly or primarily charged against, recoverable from or attributable to any
person;
“税费”或“税”指所有外国、联邦、州、省、国家、地方和其他税款、费用、征税、关税和其他任何种类的评估或收费(包括扎卡特税、所得税、
消费税、关税、关税、印花税、转让税、财产税、占用税、增值税、
使用税、不动产税、销售税、工资税、收益税、总收入税、预提税、
采矿特许权使用费或析产费或其他费用),以及政府机关征收的与上述税款、费用、征税、关税或其他评估或收费有关的任何佣金、罚金或附加应收款,无论其直接或主要是向任何人收取、可向任何人追讨或归属于任何人;
“Target Equity”
has the meaning set forth in the Recitals.
“目标股权”具有前言中所述的含义。
“Transition Plan”
means that certain plan for transition of the Business of even date herewith by and among VRB China, VRB Cayman, VRB USA, and CES, a
copy of which is attached hereto as Exhibit B.
“过渡计划”指由
VRB 中国、VRB开曼、
VRB美国和中能储于本协议签署日签署的业务过渡计划,附于本协议附件B。
“Unfunded Amount”
has the meaning set forth in Section 4.3.5.
“未出资金额”具有第4.3.5条中所述的含义。
“VRB Cayman”
has the meaning set forth in the Preamble.
“VRB开曼”具有前言中所述的含义。
“VRB Cayman/USA Areas”
means the jurisdictions assigned to VRB Cayman or VRB USA as required and provided in the Cooperation Agreement.
“VRB开曼/美国区域”指根据《合作协议》的要求和规定分配给
VRB 开曼或 VRB 美国的辖区。
“VRB Cayman Director”
and “VRB Cayman Directors” have the meaning set forth in Section 3.3.4(a).
“VRB开曼董事”具有第3.3.4(a)条中所述的含义。
“VRB China”
has the meaning set forth in Preamble.
“VRB中国”具有前言中所述的含义。
“VRB China Areas”
means the jurisdictions assigned to VRB China as required and provided in the Cooperation Agreement.
“VRB中国区域”指根据《合作协议》的要求和规定分配给
VRB中国的辖区。
“VRB China Governing
Documents” means the VRB China Joint Venture Agreements and the VRB China Organizational Documents.
“VRB中国治理文件”指VRB中国合资协议和VRB中国设立文件。
“VRB China Joint Venture
Agreements” means this Agreement, the Cooperation Agreement, and the Transition Plan, as they exist as of the Effective Date
and as they may be subsequently amended or restated in accordance with the terms thereof.
“VRB中国合资协议”指截至生效日业已存在的本协议、《合作协议》和《过渡计划》,以及随后可能根据其条款进行的修订版或重述版。
“VRB China Organizational
Documents” means the Articles of Association of VRB China, as they exist as of the Effective Date, and as they may be subsequently
amended or restated in accordance with Law, the terms thereof, and the terms of this Agreement and the Purchase Agreement.
“VRB中国设立文件”指截至生效日业已存在的VRB中国的章程,以及随后可能根据法律、章程条款、本协议条款和购买协议进行的修订版或重述版。
“VRB USA”
means VRB Energy USA, Inc., a Delaware corporation and wholly-owned subsidiary of VRB Cayman as of the Effective Date, and any
successor or assignee thereof.
“VRB美国”指VRB
Energy USA, Inc.,一家特拉华公司,以及截至生效日
VRB 开曼的全资子公司,及其任何继任人或受让人。
1.2 Interpretation.
In interpreting this Agreement, except as otherwise indicated in this Agreement or as the context may otherwise require, (a) the
words “include,” “includes,” and “including” are deemed to be followed by “without limitation”
whether or not they are in fact followed by those words or words of similar import, (b) the words “hereof,” “herein,”
“hereunder,” and comparable terms refer to the entirety of this Agreement, including any Appendix or Exhibits, and not to
any particular Article, Section, or other subdivision of this Agreement or Appendix or Exhibit to this Agreement, (c) any
pronoun shall include the corresponding masculine, feminine, and neuter forms, (d) the singular includes the plural and vice versa,
(e) references to any agreement (including this Agreement) or other document are to the agreement or document as amended, modified,
supplemented, and restated now or from time to time in the future, (f) references to any Law are to it as amended, modified, supplemented,
and restated now or from time to time in the future, and to any corresponding provisions of successor Laws, (g) except as otherwise
expressly provided in this Agreement, references to an “Article,” “Section,” “preamble,” “recital,”
or another subdivision, or to the “Appendix” or an “Exhibit,” are to an Article, Section, preamble, recital or
subdivision of this Agreement, or to the “Appendix” or an “Exhibit” to this Agreement, (h) references to
any Person include the Person’s respective successors and permitted assigns, (i) references to “dollars” or “$”
shall mean the lawful currency of the United States of America and references to “RMB” or “¥” shall mean
the lawful currency of the PRC, (j) references to a “day” or number of “days” (without the explicit qualification
of “Business”) refer to a calendar day or number of calendar days, (k) if interest is to be computed under this Agreement,
it shall be computed on the basis of a 360-day year of twelve 30-day months, (l) if any action or notice is to be taken or given
on or by a particular calendar day, and the calendar day is not a Business Day, then the action or notice may be taken or given on the
next succeeding Business Day, and (m) any financial or accounting terms that are not otherwise defined herein shall have the meanings
given under PRC GAAP.
释义. 在解释本协议时,除非本协议另有说明或上下文另有要求,(a)“包括”一词被视为后面跟着“但不限于”,无论它们是否实际上后面跟着具有类似含义的词语,(b)“本协议”、“本协议中”、“根据本协议”和类似术语是指本协议的全部内容,包括任何附录或附件,而不是指本协议或本协议附录或附件的任何特定条款、章节或其他细分,(c)任何代名词应包括相应的阳性、阴性和中性形式,(d)单数包括复数反之亦然,(e)提及任何协议(包括本协议)或其他文件是指现在或将来不时修订、修改、补充和重申的协议或文件,并在现在或将来不时重申,以及继承法律的任何相应规定,(g)除非本协议另有明确规定,否则提及“条”、“节”、“前言”或其他细分,或“附录”或“附件”,均指本协议的条款、章节、前言或细项,或本协议的“附录”和“附件”;(h)提及任何人士包括该人士各自的继承人和许可受让人;(i)提及“美元”或“$”应指美国的法定货币,提及“人民币”或“¥
”是指中国的法定货币,(j)提及“日”或“天”(不明确限定为“工作”)是指日历日或日历天数,(k)如果根据本协议计算利息,应按一年360天,即12个30天的月计算,(l)如果在特定日历日或之前采取或发出任何行动或通知,而该日历日不是工作日,则该行动或通知可在下一个工作日采取或发出,并且(m)本协议中未另行定义的任何财务或会计术语应具有中国通用会计准则规定的含义。
1.3 Conflict.
In the event of any conflict between the terms or provisions of this Agreement and the terms or provisions of any other VRB China
Governing Document, the terms or provisions of this Agreement shall control and prevail except (i) the more specific terms or provisions
of any other VRB China Governing Document, if any, shall control and prevail, or (ii) as otherwise as required by Law.
冲突.
如果本协议条款或规定与任何其他VRB中国治理文件的条款或规定之间存在任何冲突,则应以本协议条款为准,但以下情况除外:(i)应以任何其他VRB中国治理文件(如有)的更具体条款或规定为准,或(ii)法律另有要求。
1.4 Equity
Interests Covered by this Agreement. This Agreement shall apply to all Equity Interests that are now or hereafter (i) registered
in VRB China’s records in the name of a Shareholder, (ii) Controlled by a Shareholder, or (iii) beneficially owned
by a Shareholder or any Permitted Transferee of a Shareholder. This Agreement shall apply to any options, warrants, conversion privileges,
and any other share rights directly, indirectly, or beneficially owned by a Shareholder in VRB China. If after the Effective Date, any
Equity Interests or other securities (other than any equity interests or securities of another Person issued to VRB China’s Shareholders
pursuant to a plan of merger) are issued on, in exchange for, or in connection with any of the Equity Interests by reason of any stock
dividend, stock split, reverse stock split, merger, consolidation, combination, reorganization, reclassification, recapitalization, or
other share transaction involving VRB China, such Equity Interests or other securities shall be deemed to be covered as Equity Interests
for purposes of this Agreement.
本协议涵盖的股权.
本协议适用于现在或以后(i)以股东名义在VRB中国记录中登记的所有股权,(ii)由股东控制的股权,或(iii)股东或股东的任何许可受让人实益拥有的股权。本协议适用于VRB中国股东直接、间接或实益拥有的任何期权、认股权证、转换特权和任何其他股权。如果在生效日后,由于任何股票股息、股票分割、反向股票分割、合并、兼并、合并、重组、重新分类、资本重组或涉及VRB中国的其他股票交易,在任何股权上发行任何股权或其他证券(根据合并计划向VRB中国股东发行的任何股权或证券除外),以换取任何股权或与任何股权相关的证券,则就本协议而言,此类股权或其他债券应被视为包含在股权范围内。
Article 2
PRE-COMPLETION GOVERNANCE AND OPERATIONS
第二条
交割前治理和运营
2.1 VRB
Cayman Control. During the time period from the Effective Date until the Control Acquisition Date (the “Pre-Completion Period”),
VRB China shall remain a wholly-owned subsidiary of VRB Cayman and shall continue to be governed by the directors, supervisors and officers
of VRB China as they are constituted on the Effective Date in accordance with Law and the VRB China Organizational Documents.
VRB
开曼控制. 生效日起至控制权取得日止的期间(“交割前期间”),VRB中国应继续作为VRB开曼的全资子公司,并应继续受VRB中国董事、监事和高级职员的管辖,因为他们是在生效日根据法律和VRB中国设立文件组成的。
2.2 Pre-Completion
Covenants and Obligations. Notwithstanding VRB Cayman’s control of VRB China during the Pre-Completion Period, the Parties
acknowledge, understand, and agree that they shall uphold the covenants and fulfill the obligations set forth in the Purchase Agreement
and work together in good faith to transition and operate the Business as contemplated in the Transition Plan and the Cooperation Agreement.
交割前承诺和义务
尽管 VRB开曼在交割前期间对
VRB 中国拥有控制权,但各方承认、理解并同意,他们应遵守购买协议中规定的契约和履行购买协议中规定的义务,并真诚合作,按照《过渡计划》和《合作协议》的约定过渡和运营业务。
2.3 Application
of Agreement in Pre-Completion Period. During the Pre-Completion Period, notwithstanding VRB Cayman’s control of VRB China
and in addition to the covenants and obligations set forth in the Purchase Agreement and the terms of the Transition Plan and Cooperation
Agreement, neither VRB China nor VRB Cayman as the sole Shareholder of VRB China shall take, or permit any of their respective supervisors,
directors, secretary or officers (as applicable) to take, any actions with respect to VRB China which are inconsistent or contrary to
this Agreement or any of the other Transaction Documents (as defined under the Purchase Agreement), applied in each case as though CES
is the owner of the Target Entity.
在交割前期间,尽管
VRB 开曼控制
VRB 中国,除《购买协议》中规定的承诺和义务以及《过渡计划》和《合作协议》的条款外,VRB
中国或 VRB开曼作为
VRB 中国的唯一股东均不得采取或允许其各自的监事、董事、秘书或高级职员(如适用)采取与本协议或任何其他交易文件不一致或相违背的有关
VRB 中国的任何行动、或允许其各自的任何监事、董事、秘书或高级职员(如适用)就
VRB 中国采取任何与本协议或任何其他交易文件(定义见《购买协议》)不一致或相违背的行动,在每种情况下适用时均视同中能储为目标实体的所有者。
Article 3
JOINT VENTURE GOVERNANCE
第三条
合资企业治理
3.1 Joint
Venture Governance. As of the Control Acquisition Date, CES holds a 51% Equity Interest and VRB Cayman holds a 49% Equity Interest.
From the Control Acquisition Date and continuing until this Agreement is terminated in writing signed by all the Parties or the Parties
consummates a public exchange listing of VRB China, the provisions of this Article 3, in addition to the terms of the other VRB
China Joint Venture Agreements and the VRB China Organizational Documents, shall control the governance and decision making of VRB China.
合资企业治理。自控制权取得日起,直至本协议经各方书面签署终止或各方完成VRB中国的公开交易上市,除其他VRB中国合资协议和VRB中国设立文件的条款外,本第3条的约定应控制VRB中国公司的治理和决策。
3.2 Conduct
of the Business. The Shareholders acknowledge, agree, and understand that VRB China has been formed and is existing for the purpose
of carrying on the Business. Notwithstanding any provisions of the VRB China Governing Documents to the contrary, VRB China may not conduct
any other business, and shall have no powers or authority to conduct any business, other than the Business, without the affirmative vote
or consent of the Shareholder holding or the Shareholders collectively holding at least two-thirds (2/3) of the Equity Interests.
业务经营。股东承认、同意并理解,VRB中国已成立并存续以开展业务。尽管VRB中国治理文件有任何相反的规定,未经持有或共同持有至少三分之二(2/3)股权的股东的赞成票或同意,VRB中国不得开展任何其他业务,也无权或无授权开展除业务以外的任何业务。
3.3 Board
of Directors.
董事会
3.3.1 General
Responsibility and Authority. Subject to the terms set forth in this Agreement and the other Joint Venture Agreements, the board
of directors of VRB China (the “Board”) shall have the general responsibility and authority for the day-to-day management,
operational functions, and affairs of VRB China and the supervision of the officers of VRB China (except for any matters requiring approval
of the Shareholders pursuant to Section 3.5.2(b) or any authority that the Shareholders of VRB China may not delegate to
the Board in accordance with Law).
一般责任和权力。根据本协议和其他合资协议约定的条款,VRB中国董事会(“董事会”)应对VRB中国的日常管理、运营职能和事务以及VRB中国高级职员的监督负有一般责任和权力(根据第3.5.2(b)条需要股东批准的任何事项或VRB中国股东依法不得授予董事会的任何权力除外)。
3.3.2 Voting
and Written Consents.
投票和书面同意
(a) Subject
to Section 3.3.2(b) and Section 3.5.2(b), the Board shall decide every matter considered by it by a vote requiring
approval by a simple majority, except that, in the event of a tie, the Chairman shall have the deciding vote. Any action required or
permitted to be taken at a meeting of the Board may be taken without a meeting and without prior notice if the action is evidenced by
a written consent describing the action taken, signed by all the Directors. Action taken by written consent shall be effective upon the
signing by all Directors of the consent, unless the consent specifies a different effective date (in which case such consent shall be
effective as of such different date).
根据第3.3.2(b)和3.6.2(b)条,董事会应通过需要简单多数批准的投票决定其审议的每一事项,但如果票数相等,董事长应拥有决定权。如果所有董事签署了描述所采取动议的书面同意书,则董事会会议上要求或允许采取的任何动议都可以在不召开会议和不事先通知的情况下采取。书面同意采取的动议应在所有董事签署同意书后生效,除非同意书规定了不同的生效日期(在这种情况下,该同意书应自该不同日期起生效)。
(b) Notwithstanding
Section 3.3.2(a), and subject to and except as otherwise provided in the other VRB China Joint Venture Agreements, if and for so
long as CES is entitled to designate a majority of the Directors pursuant to Section 3.3.4(a), then the following matters of the
Board shall be solely determined by the affirmative vote or consent of the CES Directors:
尽管有第3.3.2(a)条的约定,除其他VRB中国合资协议另有约定外,如果且只要中能储有权根据第3.3.4(a)条指定大多数董事,则董事会的以下事项应仅由中能储董事的赞成票或同意决定:
(i) Any
necessary or advisable changes to the VRB China management team for operational requirements of the Business;
根据业务运营要求,对VRB中国管理团队进行任何必要或适当的变更;
(ii) The
appointment, removal, or replacement of the Chief Executive Officer; and
首席执行官的任命、免职或更换:
(iii) The
creation of any other necessary or advisable senior management positions at VRB China or with respect to any of its subsidiaries.
在VRB中国或其任何子公司设立任何其他必要或适当的高级管理职位。
3.3.3 Size
of the Board. The size of the Board shall be set at six (6) individuals (each a “Director” and collectively the
“Directors”).
董事会的人数。董事会应设六(6)人(各称为“各董事”,统称为“董事”)。
3.3.4 Designation
and Election of Directors. The Directors shall be designated and elected to the Board by the Shareholders as follows:
董事的指定和选举。董事应由股东指定并选举为董事会成员,具体如下:
(a) Based
on their respective Equity Interests in VRB China (either alone or together in the aggregate with the Equity Interests in VRB China held
by their respective Permitted Transferees), CES shall be entitled to designate Directors to the Board (each a “CES Director”
and collectively the “CES Directors”) and VRB Cayman shall be entitled to designate Directors to the Board (each a
“VRB Cayman Director” and collectively the “VRB Cayman Directors”) according to the following table:
根据其各自在VRB中国的股权(单独或与各自获准受让方合计持有的VRB中国股权),中能储有权根据下表向董事会指定董事(称为“中能储董事”),VRB开曼有权根据以下表格向董事会指定董事(称为“VRB开曼董事”):
% Equity
Interests
%股权 |
Greater
than
50% 高于
50% |
Greater
than
50%
高于
50% |
Greater
than
50%
高于
50% |
50%
50% |
Less
than
50% and
greater
than
20%
低于
50%且高于
20% |
Less
than
20% and
greater
than
10%
低于
20%
且高于
10% |
Less
than
10%
低于
10% |
CES
Directors 中能储董事 |
6 |
5 |
4 |
3 |
2 |
1 |
0 |
% Equity
Interest %股权 |
Less than 10% 低于10% |
Less than 20% and greater than 10%
低于20%且高于10% |
Less than 50% and greater than 20%
低于50%且高于20% |
50% 50% |
Greater than 50% 高于50% |
Greater than 50% 高于50% |
Greater than 50% 高于50% |
VRB
Cayman Directors VRB开曼董事 |
0 |
1 |
2 |
3 |
4 |
5 |
6 |
(b) If
neither CES nor VRB Cayman is entitled to designate a Director pursuant to Section 3.3.4(a), then any individual may be nominated
for election as a Director by any current Director or any Shareholder owning at least ten percent (10%) of the Equity Interests of VRB
China and shall be elected to the Board upon the affirmative vote or consent of the Shareholder holding or the Shareholders collectively
holding greater than fifty (50%) of the Equity Interests of VRB China.
如果中能储和VRB开曼均无权根据第3.3.4(a)条指定董事,则任何个人均可由任何现任董事或拥有VRB中国至少百分之十(10%)股权的任何股东提名为董事,并应在持有或共同持有VRB中国超过五十(50%)股权的股东投赞成票或同意后当选为董事会成员。
(c) Each
Shareholder shall vote or consent pursuant to an action by written consent of the Shareholders all Equity Interests in VRB China now
or hereafter directly or indirectly owned of record or beneficially by the Shareholder, or to cause such Equity Interests to be voted,
in such manner as may be necessary to elect (and maintain in office) as the members of the Board the individuals designated by CES as
CES Directors and the individuals designated by VRB Cayman as VRB Cayman Directors pursuant to Section 3.3.4(a).
各股东应根据股东书面同意的动议,以必要的方式以股东现在或以后直接或间接拥有或实益拥有的VRB中国的所有股权,或促使此类股权用于投票,进行投票或同意,以选举(并维持)中能储根据第3.3.4(a)条指定的中能储董事和VRB开曼根据第3.3.4(a)条指定的VRB开曼董事作为董事会成员。
3.3.5 Term
of Service. Until the earlier of the Director’s death, disability, resignation, removal, or replacement in accordance with
the terms of this Agreement, the VRB China Organizational Documents, and Law, each Director shall serve in such position on the Board
for a term of three (3) years and could be reelected or redesignated to serve for consecutive terms when the current term expires.
服务期限。根据本协议、VRB中国设立文件和法律的条款,在董事死亡、残疾、辞职、免职或更换(以较早者为准)之前,各董事应在董事会任职三(3)年,并可在当前任期届满时通过被重新选举或被重新指定进行连任。
3.3.6 Removal
and Replacement. In the event CES or VRB Cayman loses a right to designate a Director to the Board pursuant to Section 3.3.4(a),
then such Director may be removed from the Board upon written notice by any Party to the other Parties. Each of CES and VRB Cayman may
remove a Director designated by it, replace any Director designated by it, and appoint a new Director designated by it, in each case
pursuant to Section 3.3.4(a), by written notice to the other Parties. If required by Law or the VRB China Organizational Documents,
the Shareholders shall adopt a resolution removing such Director and appointing such new Director at the next Shareholders’ meeting.
A Shareholder shall not take any action to remove or replace a Director that was not designated to the Board by such Shareholder.
免职和更换。如果中能储或VRB开曼失去根据第3.3.4(a)条向董事会指定董事的权利,则任何一方向其他各方发出书面通知后,该董事可被免职。中能储和VRB开曼均可根据第3.3.4(a)条向其他各方发出书面通知,免职其指定的各董事,更换其指定的任何董事,并任命其指定的新董事。如果法律或VRB中国设立文件要求,股东应在下次股东大会上通过决议罢免该董事并任命新董事。股东不得采取任何行动免职或更换非由其向董事会指定的董事。
3.3.7 Board
Meetings.
董事会会议
(a) The
Board shall meet at least annually and as often as is required under Law, either on dates fixed at an earlier meeting or as called by
the Chairman. The Chairman shall give notice, specifying the time and place of, and the agenda for, each meeting of the Board, to all
Directors at least five (5) Business Days before the time appointed for the meeting.
董事会应至少每年举行一次会议,并按照法律要求的频率举行会议,会议日期可以在之前的会议上确定,也可以由董事长召集。董事长应在会议指定时间前至少五(5)个工作日向所有董事发出通知,说明每次董事会会议的时间、地点和议程。
(b) The
Board shall meet virtually or in a mutually agreeable place, and failing agreement, at VRB China’s principal office.
董事会应线上举行或在各方同意的地点举行,如未达成同意,则应在VRB中国总部举行会议。
(c) Meetings
of the Board may be held by means of conference telephone or other communications equipment by means of which all Persons participating
in the meeting can hear each other, and participation in a meeting by such communications equipment shall constitute presence in person
at the meeting.
董事会会议可以通过电话会议或其他通信设备举行,所有与会人员都可以通过这些设备相互听到对方的声音,通过这些通信设备参加会议应构成现场出席会议。
(d) The
Board shall not decide on any matter at a meeting unless such matter is included in the agenda for such meeting (or all the Directors
present at the meeting otherwise agree).
董事会不得在会议上就任何事项作出决定,除非该事项已列入会议议程(或经出席会议的所有董事同意)。
(e) A
quorum for any meeting of the Board shall consist of not less than four (4) Directors in person or by telephone, at least one (1) of
which shall be a CES Director (if any) and at least one (1) of which shall be a VRB Cayman Director (if any).
任何董事会会议的法定人数应由不少于四(4)名董事现场出席或通过电话出席,其中至少一(1)名董事应为中能储董事(如有),至少一(一)名董事为VRB
开曼董事(如有)。
3.3.8 Legal
Representative, Chairman and Secretary.
法定代表人,董事长及董事会秘书
(a) Whichever
Party is entitled to designate a majority of the Directors to the Board pursuant to Section 3.3.4, respectively, shall, as part
of such designations, designate the Director that shall serve as the Chairman of the Board. If no Party is entitled to designate a majority
of the Directors to the Board pursuant to Section 3.3.4, then the Directors shall appoint the Chairman of the Board. The Chairman
shall be the legal representative of VRB China.
根据第3.3.4条,无论哪一方有权分别指定董事会多数董事,作为此类指定的一部分,应指定一名董事担任董事长。如果任何一方均无权根据第3.3.4条指定董事会多数董事,则董事应任命董事会董事长。董事长应为VRB中国的法定代表人。
(b) The
Chairman shall be entitled to appoint the secretary for each meeting of the Board. The secretary of the meeting shall prepare minutes
of that meeting and circulate copies thereof to each Director within ten (10) Business Days after the meeting. The minutes, unless
objected by any attending Director at the next meeting at which such minutes are being brought before the Board for approval, shall be
the official record of the decision made by the Board.
董事长有权为每次董事会会议任命董事会秘书。董事会秘书应为该次董事会会议准备会议纪要,并应在会议结束后十(10)个工作日内将副本分发给各董事。除非出席会议的任何董事在下一次会议该会议纪要被董事会传阅并批准时进行反对,该会议记录应作为董事会决定的正式记录。
3.4 Officers.
Subject to the terms set forth in this Agreement and the other VRB China Governing Documents, the Board may delegate the day-to-day management
of the business and affairs of VRB China to one or more officers. Each officer, unless otherwise provided in this Agreement, or any employment
agreement or consulting agreement with the officer, may be appointed or removed by the Board at any time and shall serve at the discretion
of the Board until the officer’s death, disability, resignation, removal, or replacement. Each officer shall have such powers,
duties, and responsibilities as determined from time to time by the Board or, with respect to any officer other than the Chief Executive
Officer, as determined from time to time by the Chief Executive Officer, or as provided in the VRB China Governing Documents or Law.
The officers of VRB China shall at least include a Chief Executive Officer and Chief Financial Officer.
高级职员。受本协议和其他VRB中国治理文件条款的约束,董事会可将VRB中国业务和事务的日常管理委托给一名或多名高级职员。除非本协议或与该高级职员签订的任何雇佣协议或咨询协议另有约定,否则董事会可随时自行决定任命或罢免各高级职员,直至该高级职员死亡、残疾、辞职、免职或被更换。各高级职员应具有董事会不时确定的权力、职责和责任,对于首席执行官以外的任何高级职员,则应由首席执行官不时确定,或根据VRB中国治理文件或法律的规定。VRB中国的高级职员应至少包括一名首席执行官、首席财务官。
3.5 Shareholders.
股东
3.5.1 Shareholder
Meetings. The Shareholders shall meet at least once each calendar year, either on dates fixed at an earlier meeting or as called
in accordance with the VRB China Organizational Documents or Law. Meetings of Shareholders shall take place in accordance with the VRB
China Organizational Documents and Law, and subject to the following requirements:
股东大会。股东应至少在每个日历年举行一次会议,会议日期可在之前的会议上确定,也可根据VRB中国设立文件或法律召开。股东大会应按照VRB中国设立文件和法律举行,并符合以下要求:
(a) The
Shareholder meeting shall be virtually, at a place designated by the Board, or at VRB China’s principal office.
股东大会应在董事会指定的地点线上举行或在VRB中国总部举行。
(b) Meetings
of the Shareholders may be held by means of conference telephone or other communications equipment by means of which all Persons participating
in the meeting can hear each other, and participation in a meeting by such communications equipment shall constitute presence in person
at the meeting.
股东大会可以通过电话会议或其他通信设备举行,所有与会者都可以通过这些设备相互听到对方的声音,通过这些通信设备参加会议应构成现场出席会议。
(c) The
Shareholders shall not decide on any matter at a meeting unless such matter is included in the agenda for such meeting (or all the Shareholders
present at the meeting otherwise agree).
股东不得在会议上就任何事项作出决定,除非该事项已列入会议议程(或经出席会议的所有股东同意)。
(d) The
Board shall call a Shareholder meeting by giving not less than fifteen (15) days prior notice to each Shareholder.
董事会应至少提前十五(15)日通知各股东召开股东大会。
(e) A
quorum for a Shareholder meeting shall consist of not less than one (1) Shareholder in person or by telephone.
股东大会的法定人数应不少于一(1)名股东现场出席或通过电话出席。
3.5.2 Voting
and Written Consents.
投票和书面同意
(a) Subject
to Section 3.5.2(b) and except as otherwise required by the VRB China Organizational Documents or Law, the Shareholders of
VRB China shall decide every question submitted to it by a vote requiring approval by the Shareholder holding or the Shareholders holding
greater than fifty percent (50%) of the Equity Interests. Any action required or permitted to be taken at a meeting of the Shareholders
may be taken without a meeting and without prior notice if the action is evidenced by a written consent describing the action taken,
signed by the Shareholder or the Shareholders holding the Equity Interests required to approve such action if the action were taken by
affirmative vote at a meeting of the Shareholders. Action taken by written consent shall be effective upon the signing of the consent
by the requisite Shareholders, unless the consent specifies a different effective date (in which case such consent shall be effective
as of such different date).
根据第3.5.2(b)条,除非VRB中国设立文件或法律另有要求,否则VRB中国的股东应通过投票决定提交给它的每一个问题,该投票需要持有百分之五十(50%)以上股权的股东批准。股东大会上要求或批准采取的任何动议,如果该动议有股东或持有股权的股东签署的书面同意证明,则可以在不召开会议和不事先通知的情况下采取,通过股东签署或如果该动议是在股东大会上以赞成票采取的,则需要持有股权的股东批准该动议。书面同意采取的动议应在必需的股东签署同意书后生效,除非同意书规定了不同的生效日期(在这种情况下,该同意书应自该不同日期起生效)。
(b) Notwithstanding
Section 3.5.2(a), and subject to and except as otherwise provided in the other VRB China Joint Venture Agreements, or except as
otherwise required by the VRB China Organizational Documents or Law, the following matters may not be taken by VRB China, or the Board,
any of its Directors, or any of its officers in the name or on behalf of VRB China, without the affirmative vote or consent of the Shareholder
holding, or the Shareholders collectively holding, at least two-thirds (2/3) of the Equity Interests:
尽管有第3.5.2(a)条的约定,除非其他VRB中国合资协议另有约定,或除非VRB中国设立文件或法律另有要求,未经持有或共同持有至少三分之二(2/3)股权的股东的赞成票或同意,VRB中国、董事会、其任何董事或其任何高级职员不得以VRB中国的名义或代表VRB中国处理以下事项:
(i) The
formation, creation, acquisition, ownership, operation, or conduct of any business other than the Business;
成立、创建、收购、拥有、经营或开展除业务以外的任何业务;
(ii) Except
for Current Budgets or any modifications made to the Current Budgets in accordance with the Transition Plan, the approval or modification
of any Annual Budget or any annual accounts;
除当前预算或根据《过渡计划》对当前预算进行的任何修改外,任何年度预算或任何年度账目的批准或修改;
(iii) The
adoption, approval, or any modification of VRB China’s profit distribution and loss recovery plan;
采用、批准或修改VRB中国的利润分配和亏损弥补计划;
(iv) Except
as required by the terms of the Purchase Agreement, any increase or decrease in VRB China’s registered capital;
除购买协议条款要求外,VRB中国注册资本的任何增加或减少;
(v) Except
as provided in Article 4 (Financing), the incurrence of any substantial financial indebtedness in excess of, in the aggregate, RMB
20,000,000 by VRB China or any of its Subsidiaries, including any loans from Shareholders (other than Shareholder loans to support VRB
China’s liquidity requirements);
除第4条(融资)约定外,VRB中国或其任何子公司发生的任何总数超过人民币20,000,000元的重大金融债务,包括股东提供的任何贷款(支持VRB中国流动性要求提供的股东贷款除外);
(vi) Except
for the issuance of Equity Interests pursuant to the employee share incentive plan of VRB China as duly adopted by the Board, the issuance
of any Equity Interests of any nature to any Person other than CES, VRB Cayman, or their respective Permitted Transferees;
除根据董事会正式通过的VRB
中国员工股权激励计划发行股权外,向中能储、VRB
开曼或其各自的许可受让人以外的任何人发行任何性质的股权;
(vii) Granting
a pledge, lien or charge over any Intellectual Property or other assets of VRB China or any Equity Interests;
对VRB中国的任何知识产权或其他资产或任何股权授予质押、留置或押记;
(viii) Except
for the completion of the assignments contemplated in Section 3.8 of the Purchase Agreement or the licensing of software, know-how,
or marks in the ordinary course of business, the sale, assignment, licensing, or other transfer of any Intellectual Property used in
or relating to the Business;
除为完成购买协议第3.8条约定的转让或在正常业务过程中许可软件、专有技术或商标外,出售、转让、许可或以其他方式转让业务中使用的或与业务有关的任何知识产权;
(ix) Any
merger, division, dissolution, liquidation, or change in the company form of VRB China;
VRB中国的任何合并、分立、解散、清算或公司形式的变更;
(x) Any
transfer of any Equity Interests by any Shareholder to any Person other than CES or VRB Cayman or their respective Permitted Transferees,
except in compliance with Section 6.4 (Rights of First Refusal) and Section 6.5 (Tag-Along Rights), or in connection with
a public exchange listing of VRB China;
任何股东向除中能储或VRB
开曼或其各自许可受让人以外的任何人转让任何股权,除非符合第6.4条(优先购买权)和第6.5条(随售权)的规定,或与VRB中国的公开上市有关;
(xi) Any
acquisition of assets by VRB China pursuant to which Equity Interests are to be issued as consideration;
VRB中国对资产的任何收购,根据该收购,将以发行股权作为对价;
(xii) Any
material disposition of assets by VRB China, other than transactions made in the ordinary course of business with the disposition of
any asset with a value of at least RMB 10,000,000 being deemed material;
VRB中国对资产的任何重大处置,但在正常业务过程中进行的交易除外,处置价值至少为人民币10,000,000元的任何资产被视为重大处置;
(xiii) The
entering of material related party transactions (being any transaction with an aggregate value of at least RMB 10,000,000) other than
transactions with CES or its Affiliates as contemplated by the Current Budget or an Annual Budget; and
进行重大关联交易(总价值至少为人民币10,000,000元的任何交易),但不包括当前预算或年度预算中规定的与中能储或其关联方的交易;以及
(xiv) The
amendment, restatement or other modification to any of the VRB China Organizational Documents.
对任何VRB中国设立文件的修订、重述或其他修改。
3.6
Capital Reduction. After the Control Acquisition Date, VRB China shall proceed with the
reduction of the unpaid registered capital of VRB China as the Board determines necessary (the “Capital Reduction”)
and register such Capital Reduction with the competent company registration authorities, or take such other action as the Board determines
necessary to address VRB China’s unpaid registered capital; provided, that under no circumstances shall VRB China require VRB Cayman
or CES to contribute capital to VRB China in satisfaction of any unpaid registered capital of VRB China unless finally required by the
applicable Laws. Both VRB Cayman and CES shall conduct all necessary actions and provide all necessary assistance relating to the Capital
Reduction, including but not limited to signing, or causing the directors designated by them, respectively, to sign, any documentation
required for the Capital Reduction, including but not limited to board resolutions, shareholders resolutions, amended articles of association,
and administrative forms, etc., as determined by the Board in its discretion.
在控制权取得日之后,VRB中国应在董事会认为必要的情况下推进缩减注册资本(“减资”),并在适用的公司备案机构就该项减资进行备案,或采取董事会认为必要的其他措施以解决VRB中国的未缴注册资本,前提是VRB中国在任何情况下均不能要求VRB开曼或中能储向VRB中国进行注资以满足VRB中国的未缴注册资本,除非适用法律最终要求。VRB开曼及中能储双方均须就减资进行所有必要的工作并提供所有必要的协助,包括但不限于签署或使其委托的董事签署任何减资需要的文件,包括但不限于董事会决议、股东决议、修订版章程、以及行政表格等。
Article 4
ACCOUNTING AND FINANCING
第四条 会计与筹资
4.1 Budgeting.
预算编制
4.1.1 Budgets.
The Business shall be conducted, expenses shall be incurred, and assets shall be acquired only pursuant to Budgets approved in accordance
with this Agreement.
预算。
业务的开展、费用的发生和资产的获得只能依据根据本协议批准的预算。
4.1.2 Preparation
of Budgets. Management shall, at least sixty (60) days prior to the end of each Financial Year, prepare and submit to the Board
a detailed Annual Budget in relation to the forthcoming Financial Year.
预算的编制。
管理层应在每个财政年度结束前至少六十(60)天编制并向董事会提交下一个财政年度的详细年度预算。
4.1.3 Approval
and Funding of Budgets. A Budget shall be deemed adopted and effective upon approval by the Board and Shareholders as required by
Section 3.5.2(b)(ii).
预算的批准和供资。
根据第 3.5.2(b)(ii)条的规定,预算一经董事会和股东批准,即视为通过并生效。
4.1.4 Budget
Overruns. Overruns of ten percent (10%) or more of the amount provided for in any approved Budget shall require Board approval.
Without prejudice to the foregoing, management shall immediately notify the Board of any anticipated material departure from, or proposed
changes to, the then applicable approved Budget and overruns of five percent (5%) or more of the amount provided for in an approved
Budget shall be added to the agenda for discussion at the next meeting of the Board.
预算超支。
预算超支达到或超过任何已批准预算金额的百分之十
(10%)时,须经董事会批准。
在不影响前述规定的前提下,管理层应立即通知董事会任何与当时适用的已批准预算的预期重大偏离或拟议变更,而超出已批准预算金额百分之五(5%)或以上的部分应列入下一次董事会会议议程进行讨论。
4.2 Existing
Financing Obligations. Notwithstanding the provisions of Section 4.1, the Parties acknowledge, ratify, and confirm the following
existing obligations as of the Effective Date to finance the Business:
现有融资义务。
尽管有第 4.1 条的规定,各方承认、批准并确认以下截至生效日的现有融资义务:
4.2.1 CES
shall make the Equity Transfer payments to VRB Cayman and the Capital Increase payments to VRB China as provided in the Purchase Agreement
and the Payment Schedule (as defined therein and attached thereto as Appendix 1);
中能储应按照购买协议和付款时间表(如本协议定义和附件1所示)的规定,向VRB开曼支付股权转让款,向VRB中国支付增资款;
4.2.2 As
of the Effective Date, the Parties have approved the Annual Budgets for the remainder of the Financial Year 2024 and the Financial Year
2025 that are attached to the Transition Plan (each a “Current Budget” and collectively the “Current Budgets”),
and CES shall make the capital contributions to VRB China as required by the Current Budgets;
截至生效日,各方已批准了《过渡计划》所附的2024财政年度剩余时间和2025财政年度的年度预算(“当前预算”),中能储应按照当前预算的要求向VRB中国出资;
4.2.3 None
of VRB China nor any Shareholder shall incur any expenses on behalf of VRB China, or reimburse any expenses of VRB China, except as may
be provided for in Current Budgets; and
VRB中国或任何股东均不得代表VRB中国承担任何费用,也不得报销VRB中国的任何费用,但当前预算中另有规定的除外;和
4.2.4 VRB
China shall manage its assets and liabilities, pay any expenses or incur any liabilities, or establish any reserves, as may be provided
for in the Current Budgets.
VRB中国应按照当前预算的规定管理其资产和负债,支付任何费用或承担任何负债,或建立任何储备金。
4.3 Additional
Financing.
额外融资
4.3.1 If
the Board determines that VRB China requires additional funding, which may or may not be pursuant to a Budget, then subject to any Shareholder
approval requirements under Section 3.5.2(b), the Board may call for the Shareholders to provide the additional funding (“Additional
Financing”) in the form of either contributions of capital (“Capital Contribution”) or loans (“Shareholder
Loan”), as determined by the Board. Notwithstanding the foregoing, except to the extent otherwise determined by the unanimous
approval of the Board, any Additional Financing shall not be obtained by VRB China until CES has made all capital contributions to VRB
China as required by the Current Budgets.
如果董事会决定
VRB中国需要额外的资金(可能是也可能不是根据预算),则在符合第
3.5.2(b)条规定的任何股东批准要求的前提下,董事会可要求股东以出资(“出资”)或贷款(“股东贷款”)的形式提供额外的资金(“额外融资”),具体形式由董事会决定。尽管有上述规定,除非经董事会一致批准,否则在中能储按当前预算要求向
VRB中国提供所有出资之前,VRB中国不得获得任何额外融资。
4.3.2 The
Shareholders shall have the right, but shall not be obligated, to provide Additional Financing to VRB China. The Shareholders shall not
be obligated to participate in any guarantee or similar undertaking in relation to VRB China.
股东有权但无义务向VRB中国提供额外融资。股东没有义务参与与VRB中国有关的任何担保或类似承诺。
4.3.3 All
Additional Financing shall be allocated among the Shareholders proportionately in accordance with their respective Equity Interests in
VRB China.
所有额外融资应按照股东在VRB中国的股权比例在股东之间分配。
4.3.4 VRB
China shall notify the Shareholders in advance of an Additional Financing (“Additional Financing Notice”). If the
Additional Financing is to be made pursuant to an Annual Budget, the Shareholders shall have twenty (20) Business Days following the
date of the Additional Financing Notice to fund their portion of the Additional Financing.
VRB中国应提前通知股东额外融资(“额外融资通知”)。如果根据年度预算进行额外融资,股东应在额外融资通知日后二十(20)个工作日内为其部分额外融资提供资金。
4.3.5 If
any Shareholder does not fund their portion of Additional Financing in full by the relevant due date (a “Non-Funding Shareholder”),
then VRB China shall provide a notice to each other Shareholder that did fund its Additional Financing in full by the relevant due date
(a “Funding Shareholder”) that specifies (A) the amount that the Non-Funding Shareholder has not funded (the
“Unfunded Amount”) and (B) the date by which the Funding Shareholder may fund the Unfunded Amount; provided,
that if there is more than one Funding Shareholder, the right of the Funding Shareholders to fund the Unfunded Amount shall be allocated
among them on a pro rata basis according to their respective amounts of Additional Financing they have funded in response to the Additional
Financing Notice as of the date of the calculation. A Funding Shareholder may, in its sole discretion, fund some or all of the Unfunded
Amount by the date specified in the notice from VRB China, which funding must be made in the same form (Capital Contribution or Shareholder
Loan). This process in Section 4.3.4 shall be repeated, with each amount of Additional Financing that is not funded by a Funding
Shareholder pursuant to this Section 4.3.4 treated as an Unfunded Amount, until either the Additional Financing is funded in full
or no Funding Shareholder remains.
如果任何股东未在相关到期日之前全额出资其额外融资部分(“未出资股东”),则VRB中国应向在相关到期日之前全额出资其额外融资的其他各股东(“出资股东”)发出通知,通知中应指明(A)未出资股东未出资的金额(“未出资金额”)以及(B)出资股东可出资未出资金额的日期;前提是,如果有一个以上的出资股东,出资股东为未出资金额出资的权利应根据其在计算日为响应额外融资通知而各自出资的额外融资额按比例分配。出资股东可自行决定在
VRB中国发出通知指定的日期之前出资部分或全部未出资额,但必须以相同的形式(出资或股东贷款)出资。第
4.3.4 条中的流程应重复进行,未由出资股东根据本第
4.3.4 条出资的每笔额外融资金额均应视为未出资金额,直至额外融资全额出资或不再有出资股东。
4.3.6 If
an Additional Financing is to be funded in the form of Capital Contributions and a Funding Shareholder funds some or all of the Unfunded
Amount as provided in Section 4.3.4, the Equity Interest held by the Non-Funding Shareholder shall be diluted so that its shareholding
after the dilution shall be calculated according the following formula:
如果额外融资以出资的形式进行,且出资股东按照第
4.3.4 条的规定出资部分或全部未出资额,则非出资股东持有的股权应被稀释,稀释后的股权应按照以下公式计算:
SH = DE x 100%
TE
Where:
其中:
SH = the Equity Interest of the Non-Funding Shareholder
after the dilution, expressed as a percentage
SH=稀释后非出资股东的股权,以百分比表示
DE = the sum of the Capital Contributions made
by the Non-Funding Shareholder as of the date of the calculation
DE = 非出资股东截至计算日的出资总额
TE = the sum of the Capital Contributions made
by all the Shareholders as of the date of the calculation
TE = 截至计算日所有股东的出资总和
Provided, that:
前提是:
As of the Control Acquisition Date, CES is deemed
to have made Capital Contributions in the aggregate amount of RMB 357,000,000 and VRB Cayman is deemed to have made Capital Contributions
in the aggregate amount of RMB 343,000,000.
截至控制权取得日,中能储视为已累计出资人民币
357,000,000元,VRB开曼视为已累计出资人民币343,000,000元。
And,
if there is more than one Funding Shareholder, the increase in the Equity Interest held by the Funding Shareholders shall be allocated
among the Funding Shareholders on a pro rata basis according to their respective sums of Capital Contributions as of the date of the
calculation.
如果有一个以上的出资股东,则出资股东所持股权的增加额应根据各出资股东在计算日的出资额按比例分配给各出资股东。
4.4 Shareholder
Loans.
股东贷款
4.4.1 Shareholder
Loans shall be on terms (including as to interest rate) determined by the Board.
股东贷款的条款(包括利率)应由董事会决定。
4.4.2 Shareholder
Loans shall be unsecured and subordinated in right of payment to all indebtedness of VRB China to third parties for borrowed money.
股东贷款应是无担保的,在付款权上从属于VRB中国对第三方借款的所有债务。
4.4.3 Each
Shareholder Loan shall rank pari passu with all other subordinated indebtedness of VRB China outstanding from time to time to
the Shareholders.
每笔股东贷款应与
VRB中国不时欠股东的所有其他次级债务享有同等权益。
4.4.4 Neither
the rights nor the obligations under a Shareholder Loan may be assigned or novated to any third party without the prior written consent
of all the Shareholders and VRB China except in connection with a transfer of an Equity Interest in accordance with Article 6.
未经全体股东和
VRB中国事先书面同意,股东贷款项下的权利和义务均不得转让或更替给任何第三方,但根据第
6 条转让股权时除外。
4.4.5 No
demand for any amount outstanding under any Shareholder Loan may be made by a Shareholder unless the Shareholders unanimously agree.
除非股东一致同意,否则一股东不得要求偿还任何股东贷款项下的未偿金额。
4.5 Capital
Contributions.
出资
4.5.1 Each
Capital Contribution shall rang pari passu with the existing Equity Interests.
每笔出资应与现有股权享有同等权益。
4.5.2 At
completion of Capital Contributions in response to an Additional Funding Notice pursuant to the process set forth in Section 4.3,
VRB China shall amend its register of Shareholders and file with relevant Government Authorities to reflect the Equity Interests in VRB
China held by each Shareholder, as adjusted based on the Capital Contributions provided by the Shareholders in response to the Additional
Financing Notice and in accordance with the terms of Section 4.3.6.
在根据第
4.3 条规定的程序响应额外融资通知的出资完成时,VRB中国应修改其股东名册并向相关政府机关备案,以反映各股东持有的
VRB中国股权,该股权应根据股东响应额外融资通知提供的出资并按照第
4.3.6 条的条款进行调整。
4.6 Financing.
融资
4.6.1 The
Board shall determine the means in which to obtain any Additional Financing that has not been satisfied pursuant to Section 4.4
or Section 4.5.
董事会应确定获得任何未根据第
4.4 条或第 4.5 条满足的额外融资的方式。
4.6.2 The
portion of the Additional Financing that takes the form of debt financing, if any, may consist of a loan from a Shareholder on terms
to be determined by the Board and the Shareholder, loans from local and international financing sources, and such other sources as may
be recommended by the Board based upon which source offers the best rates and terms.
采取债务融资形式的部分额外融资(如有)可包括股东按照董事会和股东确定的条款提供的贷款、本地和国际融资渠道的贷款以及董事会根据哪种渠道提供的利率和条款最优惠
而推荐的其他渠道。
4.6.3 All
bank financing, whether obtained in PRC or abroad, shall be arranged in accordance with normal and sound business principles and the
terms and conditions of any such facilities shall require the approval of the Board with the approval of the Shareholders required by
Section 3.5.2(b)(v).
所有银行融资,无论是在中国还是国外获得的,都应按照正常和健全的商业原则进行安排,任何此类贷款的条款和条件都需要董事会的批准,并按照第3.5.2(b)(v)条的要求获得股东的批准。
4.7 Accounting,
Auditing and Insurance.
会计、审计和保险
4.7.1 Accounting
Systems, Books and Policies. VRB China shall keep proper books of record and accounts necessary to comply with the financial reporting
and other requirements of this Agreement including to prepare the necessary financial statements.
会计制度、账簿和政策。
VRB中国应妥善保存必要的记录簿和账目,以符合本协议的财务报告和其他要求,包括编制必要的财务报表。
4.7.2 Accountant.
VRB China shall engage an accountant with qualifications necessary to review and prepare its annual financial statements and tax returns
and filings as required by this Agreement. The Board shall select the accountant and may replace the accountant from time to time in
its discretion; provided, that the accountant must be independent from CES and VRB Cayman and their respective Affiliates and such replaced
accountant.
会计。
VRB中国应聘请一名具有必要资格的会计师,负责审核和编制本协议要求的年度财务报表、纳税申报表和申报文件。
董事会应选择会计师,并可自行决定不时更换会计师;但会计师必须独立于中能储和
VRB开曼及其各自的关联方以及被更换的会计师。
4.7.3 Auditor.
VRB China shall engage a local auditor to audit its annual financial statements and prepare audit reports. The Board shall select the
auditor and may replace the auditor from time to time in its discretion; provided, that the auditor must be independent from CES and
VRB Cayman and their respective Affiliates.
审计师。VRB中国应聘请一名当地审计师审计其年度财务报表并编制审计报告。董事会应选择审计师,并可不时酌情更换审计师;但审计师必须独立于中能储和VRB开曼及其各自的关联方。
4.7.4 Insurance.
VRB China shall procure and maintain all such insurance as may be required by Law or as may otherwise be reasonably necessary to protect
the assets and operations of VRB China.
保险。VRB中国应购买并维持法律规定的或保护
VRB中国的资产和运营所合理需要的所有保险。
4.7.5 VRB
Cayman Financial Statement and Audit Requirements. The Parties
acknowledge and understand that the ultimate parent company of VRB Cayman is subject to accounting, auditing, and other standards imposed
by U.S. securities Law. For so long as required by VRB Cayman, (i) VRB China shall engage, at VRB Cayman’s expenses, Deloitte China
or another PCAOB registered audit firm acceptable to VRB Cayman and VRB China, to audit VRB China’s annual financial statements
and prepare audit reports in accordance with the requirements applicable to VRB Cayman, and (ii) VRB China shall provide such necessary
or appropriate information to such auditor to complete its audits and to VRB Cayman’s personnel or designated accountant to prepare,
at VRB Cayman’s expenses, financial statements of VRB China in accordance with US GAAP.
VRB开曼财务报告及审计要求。各方知晓并理解VRB开曼的最终母公司受制于美国证券法规定的会计、审计以及其他标准。如果VRB开曼作出相关要求,(i)VRB中国应聘用德勤中国或其他在美国公众公司会计监管委员会注册的并可以被VRB开曼和VRB中国接受的审计师事务所,来根据VRB开曼所适用的要求审计VRB中国的年度财务报告并准备审计报告,所有应VRB开曼要求产生的相关费用由VRB开曼承担;以及(ii)VRB中国应向该审计师提供必要且合适的信息来完成其审计,并向VRB开曼的人员或其指定的会计师提供该信息来准备适用于美国通用会计准则的VRB中国的财务报表,相关全部费用由VRB开曼承担。
Article 5
RIGHTS AND OBLIGATIONS OF THE SHAREHOLDERS
第五条
股东的权利和义务
5.1 Information
Rights.
信息权
5.1.1 Books
and Records. VRB China shall keep true and accurate books and records of all of its operations and activities of VRB China.
账簿和记录。
VRB中国应保存真实准确的
VRB中国所有运营和活动的账簿和记录。
5.1.2 Quarterly
and Annual Reports. VRB China shall provide to each Shareholder (and any Affiliate that requests a copy):
季度和年度报告。VRB中国应向每位股东(以及要求获得副本的任何关联方)提供:
(a) Within
fifteen (15) days following the end of each quarter of each Financial Year, other than the last quarter of each Financial Year, a quarterly
report prepared by VRB China’s management team regarding VRB China’s activities and operations, including, without limitation,
updates on sales data, litigation updates, order fulfillment data, and research and development updates, potential new projects, installed
projects updated, a comparison of the Annual Budget against year-to-date actual financial performance, and such other information as
may be reasonably requested prior to the end of the quarter (each, a “Quarterly Report”).
在每个财政年度的每个季度结束后十五(15)天内,除每个财政年度的最后一个季度外,VRB中国管理团队应编制一份关于VRB中国活动和运营的季度报告,包括但不限于销售数据更新、诉讼更新、订单履行数据和研发更新、潜在新项目、已安装项目更新、年度预算与年初至今实际财务业绩的比较,以及在季度结束前合理要求的其他信息(各称“季度报告”)。
(b) Within
thirty (30) days following the end of each Financial Year, a Quarterly Report for the last quarter of that Financial Year and a report
covering all of the information required in a Quarterly Report but in respect of VRB China for the entire Financial Year and such other
information as may be reasonably requested prior to the end of the Financial Year.
在每个财政年度结束后三十(30)天内,提交该财政年度最后一个季度的季度报告,以及一份涵盖季度报告中要求的所有信息的报告,且涉及整个财政年度的VRB中国,以及在财政年度结束前合理要求的其他信息。
5.1.3 Financial
Statements.
财务报表
(a) VRB
China shall provide to each Shareholder (and any Affiliate that requests a copy), when available, but not later than thirty (30) days
following the end of each Financial Year, annual unaudited financial statements of VRB China for the Financial Year, including an unaudited
balance sheet as of the end of the Financial Year, an unaudited income statement, and an unaudited statement of cash flows and notes,
all prepared in accordance with both PRC GAAP and (at VRB Cayman’s expenses) US GAAP.
VRB
中国应在每个财务年度结束后不迟于三十(30)天内,向每位股东(及任何要求副本的关联方)提供
VRB中国在该财务年度未经审计的年度财务报表,包括截至该财务年度结束时未经审计的资产负债表、未经审计的损益表及未经审计的现金流量表及附注,所有报表均按照中国通用会计准则及(由VRB开曼承担费用)美国通用会计准则编制。
(b) VRB
China shall provide to each Shareholder (and any Affiliate that requests a copy), when available, but not later than thirty (30) days
following the end of each quarter other than the last quarter of each Financial Year, unaudited financial statements of VRB China for
the quarter, including an unaudited balance sheet as of the end of the quarter, an unaudited income statement, and an unaudited statement
of cash flows and notes, all prepared in accordance with both PRC GAAP and (at VRB Cayman’s expense) US GAAP.
VRB中国应在每个季度结束后三十(30)天内(每个财政年度最后一个季度除外),向每位股东(以及任何要求副本的关联方)提供VRB中国该季度的未经审计的财务报表,包括截至该季度末的未经审计资产负债表、未经审计损益表和未经审计现金流量表及附注,所有报表均按照中国通用会计准则及(由VRB开曼承担费用)美国通用会计准则编制。
(c) VRB
China shall provide to each Shareholder (and any Affiliate that requests a copy), each audit report prepared by VRB China’s auditor
within thirty (30) days after receiving the final audit report.
VRB中国应在收到最终审计报告后三十(30)天内向每位股东(以及任何要求副本的关联方)提供VRB中国审计师编制的每份审计报告。
5.1.4 Audit
and Inspection Rights.
审计和检查权
(a) Each
Shareholder is entitled to inspect and copy the books and records of VRB China at its own expense, either directly or through any Representatives
reasonably acceptable to the Board, subject to such Shareholder first obtaining reasonable undertakings of confidentiality from such
Representatives, for the purpose of evaluating compliance with this Agreement. Such rights of inspection shall be exercised upon reasonable
prior notice to the Board and in such a manner as not to interfere unreasonably with the conduct of VRB China’s business. Further,
subject to PRC Laws, each Shareholder is entitled to request, at its own expense, an audit to be performed by an independent third-party
reasonably acceptable to the Board (the “Shareholder Auditor”), to confirm the accuracy of the books and records of
VRB China, as well as compliance with the terms of this Agreement and the other VRB China Joint Venture Agreements.
出于检验本协议下合规情况的目的,每位股东均有权直接或通过董事会合理接受的任何代表自费检查和复制VRB中国的账簿和记录,前提是该股东首先从这些代表处获得合理的保密承诺。此类检查权应在向董事会发出合理事先通知后行使,且不得无理干扰VRB中国业务的开展。此外,根据中国法律,各股东有权自费要求董事会合理接受的独立第三方(“股东审计师”)进行审计,以确认VRB中国账簿和记录的准确性,以及是否符合本协议和其他VRB中国合资协议的条款。
5.1.5 Marketing
Material and Contracts. Each Shareholder shall be entitled
to receive a copy of any marketing document or contract entered into by VRB China (other than any contract where the customer or applicable
Law prohibits disclosure to a Shareholder or any contract with a state-owned enterprise), which shall be promptly provided upon request
by a Shareholder.
营销材料和合同。每位股东均有权获得
VRB中国所签订的任何营销文件或合同的副本,VRB中国应根据股东的要求及时提供(除了客户或适用法律禁止向某一股东披露的任何合同或与国有企业之间的任何合同)。
5.2 Confidentiality.
保密
5.2.1 Confidential
Information.
保密信息
(a) The
term “Confidential Information” where used in this Agreement means the written confidential commercial, financial,
marketing, business, and technical or other data including know-how, trade secrets, specifications, calculations, formulae, processes,
business methods, diagrams, drawings and all other written confidential information relating to VRB China or the Business, VRB Cayman,
CES, or any of their Affiliates (whether written or electronic) (each a “Subject Party”) received or obtained by a
Party (the “Receiving Party”), and excludes in all cases Non-Confidential Information;
本协议中使用的“保密信息”一词是指一方(“接收方”)收到或获得的书面机密商业、财务、营销、业务和技术或其他数据,包括专有技术、商业秘密、规范、计算、公式、流程、商业方法、图表、图纸以及与VRB中国或业务、VRB开曼、中能储或其任何关联方(无论是书面还是电子形式)(各称为“标的方”)有关的所有其他书面保密信息,在任何情况下均不包括非保密信息;
(b) The
term “Non-Confidential Information” where used in this Agreement means information:
本协议中使用的“非保密信息”一词是指:
(i) in
the public domain at the time the Receiving Party learns of it, or which later becomes publicly known through no wrongful act of a Party
(other than the Subject Party);
接收方获悉时已为公众所知,或后来并非因一方(标的方除外)的不法行为而为公众所熟知;
(ii) which
was in the possession of the Receiving Party prior to the Effective Date, as shown by written records of the Receiving Party, and which
was not subject to prior confidentiality obligations with any Subject Party;
如接收方的书面记录所示,在生效日之前由接收方持有,并且不受任何标的方事先保密义务的约束;
(iii) which
the Receiving Party acquired, after the time of disclosure by or on behalf of any Subject Party, from a third party who had a lawful
right to disclose it to the Receiving Party and had no obligation to any Subject Party to maintain the confidentiality of such information;
接收方在任何标的方或其代表披露后从第三方处获得的信息,该第三方有权向接收方披露该信息,且对任何标的方均无义务对该信息保密;
(iv) which
was independently developed by the Receiving Party without the use of or reference to the Confidential Information of any Subject Party;
or
接收方在不使用或参考任何标的方的保密信息的情况下独立开发的;或
(v) which
is approved for release in writing by the Board.
经董事会书面批准发布。
5.2.2 Ownership/Uses
of Confidential Information.
保密信息的所有权/使用
(a) The
Receiving Party hereby acknowledges that the relevant Subject Party is the owner or licensee of the Confidential Information. The Receiving
Party shall not use any of the Confidential Information at any time except for the purposes of this Agreement and the management of the
Business. The Receiving Party shall:
接收方特此承认,相关标的方是保密信息的所有人或被许可人。接收方在任何时候均不得使用任何保密信息,除非是出于本协议和业务管理的目的。接收方应:
(i) not
disclose any of the Confidential Information other than on a need to know basis, as reasonably necessary, to its directors, officers,
employees, attorneys, accountants, bankers, financial advisors or consultants (collectively, the “Representatives”);
provided, that they are bound by written agreements with the Receiving Party to maintain the Confidential Information in confidence or
are otherwise under obligations of confidentiality to the Receiving Party, in each case on terms that are as protective of the Confidential
Information as the provisions of this Section 5.2;
不得向其董事、高级职员、雇员、律师、会计师、银行家、财务顾问或咨询顾问(统称为“代表”)披露任何保密信息,但合理必要的情况除外;前提是,他们受与接收方签订的书面协议的约束,对保密信息保密,或对接收方负有保密义务,在每种情况下,其条款都与第5.2条的规定一样保护保密信息;
(ii) advise
its Representatives of the obligation of confidentiality hereunder;
告知其代表本协议项下的保密义务;
(iii) require
its Representatives to use the same degree of care as is used with the Receiving Party’s own proprietary information; and
要求其代表使用与接收方自己的专有信息相同的谨慎程度;和
(iv) advise
the Board of any misappropriation or misuse of the Confidential Information.
告知董事会任何盗用或滥用保密信息的行为。
5.2.3 Permitted
Uses or Disclosures 1.1.1 . Notwithstanding the provisions
of Section 5.2.2, a Receiving Party shall be permitted to use or disclose Confidential Information as provided in this Section 5.2.3.
允许的使用或披露。尽管有第5.2.2条的规定,接收方仍应被允许使用或披露本第5.2.3条规定的保密信息。
(a) The
Receiving Party shall have the right to disclose Confidential Information to the extent required by, and in accordance with, Law or the
rules or bylaws of any stock exchange applicable to the Receiving Party. For the avoidance of doubt, with respect to VRB Cayman
or any of its Affiliates as the Receiving Party, it shall have the right to disclose Confidential Information as required by Securities
Exchange Act of 1934, as amended, or any rules or regulations promulgated by the United States Securities Exchange Commission thereunder,
and include Confidential Information in any filings to be made pursuant thereto, in each case as determined by VRB Cayman in its sole
discretion.
接收方有权在法律或适用于接收方的任何证券交易所的规则或细则要求的范围内披露保密信息。为避免疑义,就作为接收方的VRB开曼或其任何关联方而言,其有权根据1934年《证券交易法》(经修订)或美国证券交易委员会根据该法颁布的任何规则或条例的要求披露保密信息,并将保密信息纳入根据该法提交的任何文件中,每种情况均由VRB开曼自行决定。
(b) The
Receiving Party shall have the right to disclose Confidential Information on a need to know basis, as reasonably necessary, to customers
or potential customers of the Receiving Party and their Representatives; provided, that they are bound by written agreements with the
Receiving Party to maintain the Confidential Information in confidence or are otherwise under obligations of confidentiality to the Receiving
Party, in each case on terms that are as protective of the Confidential Information as the provisions of this Section 5.2.
接收方有权在需要知道的基础上,在合理必要的情况下,向接收方的客户或潜在客户及其代表披露保密信息;前提是,他们受与接收方签订的书面协议的约束,对保密信息保密,或者对接收方负有保密义务,在每种情况下,其条款都与第5.2条的规定一样保护保密信息。
(c) Where
a Shareholder wishes to transfer its interest to a purchaser, it shall have the right to disclose Confidential Information to the extent
reasonably required to enable a purchaser to carry out due diligence and review information on VRB China and the Business as would be
reasonable for a purchaser seeking to purchase such interest for value and on arm’s length terms; provided, that the transferor
shall obtain from the purchaser a confidentiality undertaking in favor of VRB China and the Shareholders, in each case acting reasonably.
如果股东希望将其权益转让给买方,则有权在合理要求的范围内披露保密信息,以便买方能够对VRB中国和业务进行尽职调查和审查信息,这对于寻求以公平条款有偿购买该权益的买方来说是合理的;前提是,转让人应从买方处获得一份以VRB中国和股东为受益人的保密承诺,在每种情况下都应合理行事。
5.2.4 Return
of Confidential Information. Upon the termination of this Agreement as to any Party or upon the request of the Board, the Receiving
Party shall promptly return to the relevant Subject Party all Confidential Information that is tangible form, and any copies thereof,
and use all reasonable endeavors to expunge all Confidential Information from any computer, word processor or other device containing
Confidential Information.
保密信息的归还。在本协议对任何一方终止后或应董事会的要求,接收方应立即向相关标的方归还所有有形形式的保密信息及其任何副本,并尽一切合理努力从任何计算机、文字处理器或其他包含保密信息的设备中删除所有保密信息。
5.3 Press
Releases. Unless otherwise required by Law (based upon the reasonable advice of counsel), no Party shall make any public announcements
in respect of this Agreement or the transactions contemplated hereby or otherwise communicate with any news media without the prior written
consent of the other Parties (which consent shall not be unreasonably withheld, conditioned or delayed), and the Parties shall cooperate
as to the timing and contents of any such announcement. Notwithstanding the foregoing, nothing contained in this Agreement shall prevent
any Party, after notification to the other Parties to the extent legally permissible, from making any announcement or publication required
by Law or from making any filings with Governmental Authorities that, based on advice of legal counsel, may be required in connection
with the execution and delivery of this Agreement or the transactions contemplated hereby.
新闻发布。除非法律另有要求(基于律师的合理建议),否则未经其他各方事先书面同意(不得无理拒绝、限制或延迟同意),任何一方不得就本协议或本协议拟进行的交易发布任何公告,也不得以其他方式与任何新闻媒体沟通,各方应就任何此类公告的时间和内容进行合作。尽管有上述规定,本协议中的任何内容均不得阻止任何一方在法律允许的范围内向其他各方发出通知后,根据律师的建议,就本协议的签署和交付或本协议拟进行的交易向政府机关作出法律要求的任何公告或公布,或向政府机关提交任何文件。
5.4 Competitive
Activity.
竞争行为
5.4.1 Non-Competition.
Each of CES and VRB Cayman represent, warrant, and covenant to the other Party and VRB China that, from the date of this Agreement,
for so long as CES or an Affiliate of CES remains a Shareholder or VRB Cayman or an Affiliate of VRB Cayman remains a Shareholder,
and for a period of two (2) years thereafter, respectively, CES and VRB Cayman shall not, and shall ensure that that their Affiliates
shall not, directly or indirectly, manage, operate, Control, or participate in ownership of more than twenty percent (20%), management,
or operations of any other third party predominantly operating in the Business that VRB China is engaged in without the prior written
consent of each Shareholder holding greater than twenty percent (20%) of the Equity Interests.
竞业禁止。中能储和VRB开曼各自向另一方和VRB中国声明、保证和承诺,自本协议之日起,只要中能储或中能储的关联方仍然是股东,或VRB开曼或VRB开曼的关联方仍然是股东,在此后的两(2)年内,中能储和VRB开曼不得,并应确保其关联方不得直接或间接管理、经营、控制或参与(所有权超过百分之二十(20%))主要从事VRB中国所从事业务的任何其他第三方,除非每个持有超过百分之二十(20%)股权的股东事先书面同意。
5.4.2 Non-Solicitation.
Each of VRB Cayman and CES represents, warrants, and covenants to the other Party and VRB China that, for so long as it remains a
Shareholder, and for a period of two (2) years thereafter, respectively, CES and VRB Cayman shall not, and shall ensure that that
their Affiliates shall not, directly or indirectly, approach or solicit any of the officers, agents or employees of the other Party,
their Affiliates, or VRB China, with a view to offering them employment within its organisation or their Affiliates without the prior
written consent of the other Party or VRB China, as applicable.
禁止招揽。VRB开曼和中能储向另一方及VRB中国声明、保证并承诺,只要其仍然是股东,以及此后两(2)年内,未经另一方或VRB中国(如适用)事先书面同意,中能储和VRB开曼不得,并应确保其关联方不得直接或间接接近或招揽另一方、其关联方,或VRB中国的任何高级职员、代理人或雇员,以期在其组织或其关联方实体内为其提供就业机会。
5.4.3 No
Reverse Engineering. No Shareholder or Affiliate of any Shareholder shall reverse engineer any Intellectual Property of VRB China
or product produced by VRB China or any Confidential Information of VRB China.
无反向工程。任何股东或任何股东的关联方均不得对VRB中国的任何知识产权或VRB中国生产的产品或VRB中国的任何保密信息进行逆向工程。
5.4.4 No
Intellectual Property Rights.
无知识产权
(a) Each
Shareholder acknowledges and agrees on behalf of itself and each of its Affiliates that:
各股东代表其自身及其各关联方承认并同意:
(i) Neither
the Shareholder nor any of its Affiliates shall have any rights to the Intellectual Property of VRB China by virtue of being a Shareholder
or an Affiliate of the Shareholder;
股东或其任何关联方均不得因作为股东或股东的关联方而对VRB中国的知识产权享有任何权利;
(ii) Neither
the Shareholder nor any of its Affiliates shall make any claim or otherwise portray or hold itself out to have any rights to the Intellectual
Property of VRB China; and
股东或其任何关联方均不得对VRB中国的知识产权提出任何索赔或以其他方式描述或声称自己拥有任何权利;和
(iii) Neither
the Shareholder nor any of its Affiliates (other than VRB China) shall, in the VRB China Areas, file, record, apply for, or seek to obtain
any registered Intellectual Property rights that are used in or relate to the Business.
股东或其任何关联方(VRB中国除外)均不得在VRB中国地区提交、记录、申请或寻求获得在业务中使用或与业务相关的任何注册知识产权。
Article 6
TRANSFER RESTRICTIONS
第六条
转让限制
6.1 General
Prohibition on Transfers. Except as provided in this Article 6, the Equity Interests held by the Shareholders may not be transferred,
sold, assigned or disposed. A Shareholder may not pledge an Equity Interest, grant a security interest in an Equity Interest, or use
an Equity Interest as collateral for any obligations unless such agreement is approved by the Board and the Shareholders in accordance
with the terms of this Agreement.
全面禁止转让。
除本协议第6条规定外,股东持有的股权不得转让、出售、转让或处置。
股东不得抵押股权、授予股权担保权益或将股权用作任何债务的抵押品,除非该协议根据本协议的条款获得董事会和股东的批准。
6.2 No
Transfers to Competitors. Notwithstanding any other provisions of this Agreement, a Shareholder may not transfer all or any portion
of an Equity Interest to any Person that is a Competitor.
不得转让给竞争对手。不论本协议其他条款如何规定,股东不得将将全部或部分股权转让给竞争对手。
6.3 Transfers
to Permitted Transferees. A Shareholder may transfer all or any portion of its Equity Interest to an Affiliate of the Shareholder
(a “Permitted Transferee”) upon delivering notice of the transfer to the Board and each other Shareholder; provided,
that the Permitted Transferee is not a Competitor and agrees in writing to join this Agreement and become subject to the terms of this
Agreement to the same extent as the transferring Shareholder. Upon receiving any notice of the transfer of an Equity Interest to a Permitted
Transferee pursuant to this Section 6.3, the Board shall instruct the Secretary of VRB China to update the register of Shareholders
and file with relevant Government Authorities to reflect such transfer.
向获准受让方转让。股东可将其全部或部分股权转让给股东的关联方(“获准受让方”),但须向董事会及其他股东发出转让通知;获准受让方不得为竞争对手,并应书面同意加入本协议,在与转让股东相同的范围内受本协议条款的约束。在收到根据本条向获准受让方转让股权的任何通知后,董事会应指示VRB中国的秘书更新股东名册并向相关政府部门备案,以反映该转让。
6.4 Rights
of First Refusal.
优先购买权
6.4.1 Grant.
Subject to the terms of this Section 6.4, each of CES and VRB Cayman hereby unconditionally and irrevocably grants to the other
Party a right of first refusal (a “ROFR”) to purchase all of the Equity Interest that CES or VRB Cayman, as applicable,
may propose to transfer to a third-party at the same price and on the same terms and conditions as those offered to the prospective transferee.
授予。根据本第6.4条的用语,中能储和VRB开曼特此各自无条件且不可撤销地授予另一方优先购买权(“优先购买权”),以购买中能储或
VRB开曼(如适用)可能建议转让给第三方的所有股权,价格及条款和条件与提供给潜在受让方的相同。
6.4.2 Notice.
If CES or VRB Cayman (as the case may be, the “Offeror”) proposes to transfer all of its Equity Interest (the “Offered
Equity Interest”) to a Person that is not a Permitted Transferee, it must deliver a proposed notice (the “Offer Notice”)
to the Board and the other Party (the “Offeree”) no later than thirty (30) days prior to the consummation of such
transfer. The Offer Notice shall contain the material terms and conditions (including price and form of consideration) of the transfer,
the identity of the prospective transferee, and the intended date of the transfer. To exercise the ROFR, the Offeree must deliver an
acceptance notice to the Board and the Offeror within fifteen (15) days after the Offeree’s receipt of the Offer Notice specifying
the portion of the Offered Equity Interest the Offeree elects to purchase from the Offeror (the “Accepted Equity Interest”).
若中能储或VRB开曼(视情况而定,“要约方”)拟将其全部股权(“要约股权”)转让给非获准受让方,则必须在完成该转让前三十(30)天内向董事会和另一方(“受要方”)发出拟议通知(“要约通知”)。要约通知应包含转让的重要条款和条件(包括价格和对价形式)、潜在受让方的身份以及预定转让日期。若要行使优先购买权,受要方必须在收到要约通知后十五(15)天内向董事会及要约方递交接收通知,列明受要方选择向要约方购买的要约股权部分(“已接受股权”)。
6.4.3 Consideration;
Closing. If the consideration proposed to be paid for the Accepted Equity Interest is in property, services, or other non-cash consideration,
the fair market value of the consideration shall be agreed by the Offeror and Offeree and if the Offeror and Offeree cannot agree the
fair market value, then the fair market value will be determined by an independent appraiser selected by the mutual agreement of the
Offeror and the Offeree. If the Offeree cannot for any reason pay for the Accepted Equity Interest in the same form of non-cash consideration,
the Offeree may pay the cash value equivalent thereof, as determined by the independent appraiser or agreed by the Offeror and Offeree.
The closing of the purchase and sale of the Accepted Equity Interest shall take place, and all payments from the Offeree shall have been
delivered to the Offeror, by the later of (i) the date specified in the Offer Notice as the intended date of the transfer; and
(ii) sixty (60) days after the Offeree’s receipt of the Offer Notice, in each case as extended for each day that an independent
appraiser requires to determine fair market value (if necessary).
对价;交割。若为拟接受股权支付的对价为财产、服务或其他非现金对价,则对价的公平市场价格应由要约方和受要方协商确定。若要约方和受要方无法就公平市场价格达成一致,则该公平市场价格应由双方共同同意的独立评估师确定。若因任何原因受要方无法以相同形式的非现金对价支付已接受股权,受要方可以支付其等值的现金对价,该现金对价由独立评估师确定或由要约方和受要方协商一致确定。已接受股权的购买和销售的交割应在以下较晚的时间进行,并且受要方应在此时间之前将所有支付款项交付给要约方:(i)要约通知中指定的预期转让日期;或(ii)受要方收到要约通知后六十(60)天内,必要时还应延长独立评估师为确定公平市场价格所需的每一天。
6.4.4 Sale
to Prospective Transferee. If the Offeree declines or fails to timely exercise the ROFR with respect to any portion of the Offered
Equity Interest in accordance with this Section 6.4, the Offeror may then sell the remaining portion of the Offered Equity Interest
to the prospective transferee and on the terms set forth in the Offer Notice (subject to the Tag-Along Rights set forth in Section 6.5,
if applicable); provided, that if such purchase and sale is not completed within ninety (90) days (excluding the time required for tax
clearance) after date the Offeree declines or fails to timely exercise the ROFR, then such portion of the Offered Equity Interest shall
once again be subject to the ROFR.
向拟受要方出售。若受要方根据本协议第6.4条拒绝或未能及时行使对任何要约股权部分的优先购买权,则要约方可以将剩余部分的要约股权出售给潜在受让方,并按照要约通知中规定的条款进行出售(如适用,受限于第6.5条中规定的随售权);但前提是,若该购买和出售未能在受要方拒绝或未能及时行使优先购买权后的九十(90)天内(不包括税务清算所需的时间)完成,则该部分要约股权将再次受限于优先购买权。
6.5 Tag-Along
Rights.
随售权
6.5.1 Participation.
Subject to the terms of this Section 6.5, if CES proposes to transfer all or any portion of its Equity Interest to a Person that
is not a Permitted Transferee and VRB Cayman declines or fails to timely exercise the ROFR with respect to any portion of such Equity
Interest, then VRB Cayman shall have the right to participate in the proposed sale (a “Tag-Along Sale”) by selling
to the prospective transferee identified in the Offer Notice, at the same price and on the same terms and conditions as set forth in
the Offer Notice, up to that portion of the Equity Interest held by VRB Cayman that is equal to product of (i) the Equity Interest
CES proposes to sell in the Tag-Along Sale, multiplied by (ii) a fraction (x) the numerator of which is the Equity Interest
held by VRB Cayman and (y) the denominator of which is the total issued and outstanding Equity Interest of VRB China.
参与。根据本第6.5条的规定,若中能储拟将其全部或部分股权转让给一个非获准受让方,且VRB开曼拒绝或未能及时行使对该股权的优先购买权,则VRB开曼有权参与拟进行的出售(“随售权出售”),按照要约通知中所列的相同价格和条款,将其持有的股权出售给要约通知中指定的潜在受让方。VRB开曼最多可以出售其持有的股权比例,该比例等于以下乘积:(i)中能储拟在随售权出售中出售的股权,乘以(ii)一个分数(x),其中分子为VRB开曼持有的股权,分母为VRB中国已发行的总股权。
6.5.2 Notice.
VRB Cayman may exercise its tag-along rights in connection with a Tag-Along Sale by notifying CES within fifteen (15) days after
the expiration of the ROFR. Such exercise notice must identify the Equity Interest VRB Cayman elects to sell to the prospective transferee
in the Tag-Along Sale.
通知。VRB开曼可通过在优先购买权期满后的十五(15)天内通知中能储,行使其与随售权出售相关的随售权。行使该权利的通知必须明确VRB开曼选择在随售权出售中出售给潜在受让方的股权。
6.5.3 Closing.
CES shall use commercially reasonable efforts to include in the Tag-Along Sale all of the Equity Interest VRB Cayman has elected to sell
pursuant to its tag-along rights, it being understood that the prospective transferee shall not be required to purchase any amount of
Equity Interests in excess of the Offered Equity Interest. In the event the prospective transferee elects to purchase less than all of
the Equity Interest sought to be sold by VRB Cayman in the Tag-Along Sale, the portion of the Equity Interest to be sold to the prospective
transferee by CES and VRB Cayman shall be reduced pro rata in proportion to the Equity Interest that each proposed to sell to the prospective
transferee in the Tag-Along Sale so that the aggregate amount of Equity Interest to be sold to the prospective transferee by CES and
VRB Cayman equals the aggregate amount that the prospective transferee is willing to purchase.
交割。中能储应尽商业上合理的努力将VRB开曼根据其随售权选择出售的全部股权包含在随售权出售的范围内,但应理解,潜在受让方不需购买超过要约股权的任何股权。若潜在受让方选择购买的股权少于VRB开曼在随售权出售中拟出售的全部股权,则中能储和VRB开曼分别出售给潜在受让方的股权份额将按比例缩减,比例依据各自拟在随售权出售中出售给潜在受让方的股权比例进行调整,从而确保中能储和VRB开曼出售给潜在受让方的股权总额等于潜在受让方愿意购买的总额。
6.5.4 Sale
to Prospective Transferee. If VRB Cayman declines or fails to timely exercise its tag-along rights with respect to any portion of
the Offered Equity Interest in accordance with this Section 6.5, CES may then sell the remaining portion of the Offered Equity
Interest to the prospective transferee and on the terms set forth in the Offer Notice; provided, that if such purchase and sale is not
completed within ninety (90) days after date VRB Cayman declines or fails to timely exercise the its tag-along rights, then such
portion of the Offered Equity Interest shall once again be subject to the tag-along rights.
向潜在受让方出售。若VRB开曼根据本第
6.5条拒绝或未能及时行使其针对任何要约股权部分的随售权,则中能储可以按照要约通知中规定的条款,将剩余的要约股权出售给潜在受让方;但前提是,若该购买和出售未能在VRB开曼拒绝或未能及时行使其随售权后的九十(90)天内完成,则该部分要约股权将再次受限于随售权。
6.6 No
Shop. VRB Cayman agrees that for a period of three (3) years from the Execution Date that it shall not solicit or seek any offers or
inquiries from any person or company for the sale of Control of VRB Cayman, but provided that the foregoing restriction does not prevent
VRB Cayman from responding to, discussing, accepting, or consummating a transaction that would otherwise be prohibited by this section
and that is made and received on an unsolicited basis from any person or company.
不得寻找买家。VRB开曼同意自签署日三(3)年的期间内其不会兜售或向任何个人或公司寻求关于出售VRB开曼控制权的要约或问询,但前提是该限制不禁止VRB开曼回应、讨论、接受或完成其本应在本条下禁止的、在未兜售的情况下从任何个人或公司处收到并达成的交易。
Article 7
TAXES
第七条
税
7.1 Shareholder
Responsibility. In accordance with Law, and notwithstanding any other provision of this Agreement, each Shareholder shall be responsible
for and shall bear the cost of any Tax which may be imposed on such Shareholder with respect to its Equity Interests, including any such
Taxes imposed on such Shareholder with respect to its respective share of profits in VRB China and any Taxes imposed on payments made
to such Shareholder by VRB China in connection with a distribution to such Shareholder. Each Shareholder shall bear the cost of any withholding
Taxes imposed on any payments made to such Shareholder by VRB China in connection with a distribution to such Shareholder. VRB China
shall withhold and pay all withholding or other Taxes required under Law (as such withholding or other Taxes may be adjusted pursuant
to the provisions of any applicable treaty, to the extent that the provisions of such treaty are permitted to be applied under Law).
In addition, VRB China shall have the right to withhold from any payment to any Shareholder any Taxes required to be withheld under any
Law. All such amounts withheld from payments made to any Shareholder shall be deemed to have been distributed to such Shareholder and
shall be accounted for in accordance with PRC GAAP.
股东责任。根据法律规定,且不论本协议的其他条款如何规定,每位股东应对其股权可能产生的任何税款负责,并承担该等税款的费用,包括对其在VRB中国中的利润份额所征收的任何税款,以及VRB中国向该股东分配时支付的任何款项所产生的税款。每位股东应承担与VRB中国向其分配款项相关的任何代扣税的费用。VRB中国应按照法律的要求扣缴并支付所有应缴的代扣或其他税款(此类代扣或其他税款可根据适用条约的规定进行调整,前提是该条约的规定在法律允许的范围内适用)。此外,VRB中国有权从向任何股东支付的款项中扣除根据任何法律要求代扣的税款。从支付给任何股东的款项中扣除的所有此类金额应被视为已分配给该股东,并根据中国通用会计准则进行处理。
7.2 Tax
Receipts. VRB China shall provide each Shareholder with copies of all applicable Tax receipts evidencing such payments or other evidence
reasonably satisfactory to the Shareholder.
税收凭证。VRB中国应向每位股东提供所有相关税收凭证的副本,证明该等支付,或提供其他令股东合理满意的证明材料。
Article 8
BREACH
第八条
违约
8.1 Default.
If:
违约。若:
8.1.1 A
Shareholder is in material breach of its obligations under any VRB China Governing Document and such breach is not remedied within ninety
(90) days of being notified in writing by another Party of the breach; or
股东严重违反其在任何VRB中国治理文件中的义务,且在另一方书面通知该违约后的九十(90)天内未得到补救;或
8.1.2 A
Shareholder is subject to an Insolvency Event; or
股东发生破产事件;或
8.1.3 A
Shareholder is subject to a Liquidation Event.
股东发生清算事件。
then such Shareholder shall be in “Default”
and shall be a “Defaulting Shareholder.” For the purposes of this Article 8, any Permitted Transferee of a Defaulting
Shareholder shall also be deemed to be in Default.
则该股东将被视为“违约”,并成为“违约股东”。为本第8条的目的,违约股东的任何获准受让方也将被视为违约。
8.2 Default
Notice. In the event of a Default, VRB China, CES (if it is not in Default), or VRB Cayman (if it is not in Default), may give written
notice of the Default (a “Default Notice”) to the Board, the Defaulting Shareholder, and all the other Shareholders.
The Default Notice shall state with reasonable certainty the grounds for the Default and the date the Default began.
违约通知。在发生违约的情况下,VRB中国、中能储(如果其未违约)或VRB开曼(如果其未违约)可以向董事会、违约股东及所有其他股东发出书面违约通知(“违约通知”)。违约通知应合理明确地陈述违约的理由及违约开始的日期。
8.3 Effect
of Default. After service of a Default Notice and during the continuation of any Default:
违约影响。在违约通知发出后及任何违约持续期间:
8.3.1 Except
as otherwise required by Law, the Defaulting Shareholder shall not have any of the governance rights under this Agreement or any of the
other VRB China Governing Documents, and, accordingly, the Defaulting Shareholder shall not be entitled designate or nominate any Director
to the Board (if applicable), call for a meeting of the Shareholders, introduce any item for the agenda of a meeting of the Shareholders,
vote or execute any written consent with respect to the Defaulting Shareholder’s Equity Interests, from VRB China, or otherwise
exercise any approval rights the Defaulting Shareholder may have under any VRB China Governing Document, and the Equity Interests of
the Defaulting Shareholder shall not be considered in determining the quorum, voting, or consent requirements for the Board or Shareholders
to validly meet or vote on or approve a matter;
除非法律另有要求,违约股东将失去本协议或任何其他VRB中国治理文件下的治理权利,因此,违约股东无权指定或提名任何董事(如适用),召集股东会议,向股东会议提出任何议程项目,投票或对违约股东的股权执行任何书面同意,或以其他方式行使违约股东在任何VRB中国治理文件下可能拥有的任何批准权,并且违约股东的股权在确定董事会或股东有效召开或表决或批准事项的法定人数、投票或同意要求时不应予以考虑;
8.3.2 Any
Director designated for election to the Board by the Defaulting Shareholder (if any), shall not be entitled to call for a meeting of
the Board, introduce any item for the agenda of a meeting of the Board, vote on any matter to be decided by the Board or execute a written
consent of the Board, or otherwise exercise any approval rights it may have under any VRB China Governing Document (except as otherwise
required by Law); and
由违约股东提名的任何董事(如有)无权召集董事会会议、向董事会会议提出任何议程项目、就董事会要决定的任何事项投票或执行董事会的书面同意,或以其他方式行使其在任何VRB中国治理文件下可能拥有的任何批准权(法律另有要求的除外);以及
8.3.3 The
transfer restrictions set forth in Article 6 shall not apply to the Equity Interests held by a Shareholder other than the Defaulting
Shareholder.
第6条中规定的转让限制不适用于除违约股东以外的其他股东所持有的股权。
Article 9
COMPLIANCE WITH LAW
第九条
遵守法律
9.1 Sanctions
and Anti-Corruption Laws. No Shareholder nor any of its Affiliates or any of their respective directors, supervisors, executives,
officers, employees, or to the knowledge of the Shareholder, any of their respective agents, in each case, is a Sanctioned Person. Each
Shareholder and its Affiliates and their respective directors, supervisors, executives, officers, employees and, to the knowledge of
the Shareholder, their respective agents, in each case when such directors, supervisors, executives, officers, employees, or agents are
acting in their capacity as such or acting for or on behalf of the Shareholder or an Affiliate, are in compliance in all material respects
with applicable Anti-Corruption Laws and applicable Sanctions. VRB China shall institute and maintain policies and procedures designed
to ensure continued compliance with applicable Sanctions and Anti-Corruption Laws.
制裁与反腐败法律。任何股东或其关联方,或其各自的董事、监事、执行官、职员,或在股东知晓的情况下,其各自的代理人,均不属于受制裁人士。每位股东及其关联方,以及其各自的董事、监事、执行官、职员,和在股东知晓的情况下,其各自的代理人,在上述董事、监事、执行官、职员或代理人以其身份行事或代表股东或关联方行事时,在所有实质方面均遵守适用的反腐败法律和适用的制裁。VRB中国应建立并保持旨在确保持续遵守适用制裁和反腐败法律的政策和程序。
9.2 Sanctioned
Customers. VRB China agrees not to conduct its Business with any Person, or Governmental Authority that is subject to any Sanctions
and Anti-Corruption Laws, (where doing so is breaching or would breach Sanctions and Anti-Corruption Laws applicable to VRB China, CES,
VRB Cayman or any of their Affiliates), including without limitation, selling any good or product to, or providing any service to, any
such Person or Governmental Authority.
受制裁客户。VRB中国同意不与任何受制裁的人士或政府机关开展业务(若这样做会违反适用于VRB中国、中能储、VRB开曼或其任何关联实体的制裁和反腐败法律),包括但不限于向任何此类人士或政府机关出售任何商品或产品,或提供任何服务。
Article 10
MISCELLANEOUS
第十条
杂项
10.1 Governing
Law. This Agreement shall be governed by the law of the PRC (excluding the law of Hong Kong SAR, Macao SAR and Taiwan), without regard
to conflicts of law principles that would result in the application of any law other than the law of the PRC.
适用法律。本协议受中华人民共和国法律(不包括香港特别行政区、澳门特别行政区和台湾地区的法律)管辖,不考虑导致适用中华人民共和国法律以外任何法律的法律冲突原则。
10.2 Language.
This Agreement has been prepared in both the English language and in the Chinese language, with the Chinese language prevailing in the
case of any inconsistency.
语言。本协议以英文和中文两种语言编写,如有任何不一致之处,以中文为准。
10.3 Termination.
This Agreement shall continue in effect until either (i) it is terminated pursuant to a written agreement signed by all the Parties
or (ii) there is only one shareholder of VRB China, at which time this Agreement shall automatically terminate and be of no further
force or effect.
终止。本协议应持续有效直至(i)由所有各方共同签署的书面协议约定终止或(ii)VRB中国仅有一名股东,则本协议届时将自动终止且之后不再存在约束力。
10.4 Dispute
Resolution. Any disputes arising from or related to this Agreement or any other Transaction Agreement shall be resolved through friendly
negotiations between the Parties. If an agreement cannot be reached, either VRB Cayman, VRB China or CES shall submit to Beijing Arbitration
Commission for arbitration in accordance with its rules of arbitration in effect at the time of applying for arbitration. The seat
of arbitration shall be Beijing. The arbitral award is final and binding upon all Parties.
争议解决。因本协议或任何其他交易协议产生的或与本协议或任何其他交易协议有关的任何争议应由各方通过友好协商解决。如无法达成协议,VRB开曼、VRB中国或中能储中的任何一方可提请北京仲裁委员会按照该会现行仲裁规则进行仲裁。仲裁地在北京,仲裁裁决是终局的,对各方均有约束力。
10.5 Successors
and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors
and assigns of the Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the Parties
hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.
继承人和受让人。本协议的条款和条件应惠及各方各自的继承人和受让人,并对其具有约束力。除本协议有明确约定外,本协议的任何明示或默示条款均无意赋予本协议各方或其各自的继承人和受让人以外的任何一方本协议项下的或因本协议而产生的任何权利、补救措施、义务或责任。
10.6 Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing (including electronic mail as permitted
in this Agreement) and shall be deemed effectively given upon the earlier of actual receipt, or (i) personal delivery to the Party
to be notified; (ii) when sent, if sent by electronic mail during normal business hours of the recipient, and if not sent during
normal business hours, then on the recipient’s next Business Day; (iii) five days after having been sent by registered or
certified mail, return receipt requested, postage prepaid; or (iv) one Business Day after deposit with a nationally recognized
overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All communications shall
be sent to the respective Parties at the following addresses (or to such address as subsequently modified by written notice given in
accordance with this Section 10.6):
通知。根据本协议发出或进行的所有通知和其他通信均应采用书面形式(包括本协议允许的电子邮件),并应在实际收到之日或以下情况中最早的时间视为有效送达:(i)通过个人递送至被通知方;(ii)在正常工作时间内通过电子邮件发送的情况下,发送时视为已送达;若不在正常工作时间内发送,则在接收方的下一个工作日视为已送达;(iii)通过挂号或认证邮件发送后五天,要求回执,邮费已付;或(iv)在通过全国知名的隔夜快递公司寄送后一个工作日内,运费已付,指定次日送达,并附有书面收件确认。所有通信应发送至各方的以下地址(或按本条规定以书面通知方式修改的地址)。
If to VRB Cayman:
若至VRB开曼:
VRB Energy Inc.
PO Box 1350
Clifton House, 75 Fort Street
Grand Cayman
KYI-1108 Cayman Islands
Email: GeneralCounsel@ivnelectric.com; Quentin@ivnelectric.com;
and leonardo.sacch@ivanhoeelectric.com
If to VRB China:
若至VRB中国:
VRB Energy System (Beijing) Co. Ltd.
Beijing Lutong Hongyun Technology and Cultural Creativity
Park,
No. 17 Yunshan South Road, Tongzhou District,
Beijing, PRC
Email: charlesge@vrbenergy.com; PeterZ@ivanhoemines.com
If to CES:
若至中能储:
China Energy Storage Co. Ltd.
中能储实业有限公司
Unit
908, Xirongxian Hutong, Xuannei Street, Xicheng District, Beijing, PRC 北京西城区宣内大街西绒线胡同天安国汇大厦908
Email 邮件: pengqi@vrbenergy.com; zeshuaihan@vrbenergy.com
10.7 Costs
of Enforcement. If any action at law or in equity (including, arbitration) is necessary to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition
to any other relief to which such party may be entitled.
执行费用。若为执行或解释本协议的条款而必须采取任何法律或衡平法行动(包括仲裁),则胜诉方除有权获得任何其他救济外,还有权获得合理的律师费、成本费和必要的支出。
10.8 Amendments
and Waivers. This Agreement may not be amended, except in a writing signed by all Parties to this Agreement. Any waiver, permit,
consent or approval of any kind or character on the part of any Party of any breach or default under this Agreement, or any waiver on
the part of any Party of any provisions or conditions of this Agreement, must be in writing and signed by the Party providing the waiver,
and shall be effective only to the extent specifically set forth in such writing.
修订与弃权。除非本协议所有各方签署书面文件,否则不得修订本协议。任何一方对本协议项下任何违反或违约行为的任何种类或性质的放弃、许可、同意或批准,或任何一方对本协议任何条款或条件的任何放弃,必须以书面形式做出,并由提供放弃的一方签署,且仅在该书面形式具体规定的范围内有效。
10.9 Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.
可分割性。本协议任何条款的无效性或不可执行性绝不影响任何其他条款的有效性或可执行性。
10.10 Compliance
with Agreement. In all cases, each Shareholder designating Directors to the Board shall cause such Directors to perform and comply
with the terms set forth in this Agreement. In the event any such Director fails to perform or comply with the terms set forth in this
Agreement, the Shareholder designating such Director to the Board shall immediately replace such Director.
协议遵守。在任何情况下,指派董事进入董事会的每位股东都应促使这些董事履行并遵守本协议规定的条款。若任何董事未能履行或遵守本协议规定的条款,指定该董事进入董事会的股东应立即替换该董事。
10.11 Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any Party under this Agreement, upon any breach
or default of any other Party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting
Party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach
or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default
theretofore or thereafter occurring.
延迟或遗漏。任何一方在本协议下因另一方的违约或失责而享有的任何权利、权力或补救措施的延迟行使或未行使,均不得损害该未违约或未失责方的任何此类权利、权力或补救措施,也不得被解释为对该违约或失责的放弃、默认或对随后发生的类似违约或失责的放弃或默认;对任何单一违约或失责的放弃不应被视为对之前或之后发生的任何其他违约或失责的放弃。
10.12 Entire
Agreement. The Preamble and the Recitals are incorporated into and made a part of this Agreement. This
Agreement (including any Appendices, Exhibits, or Schedules attached hereto) constitutes the full and entire understanding and agreement
between the Parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter
hereof existing between the Parties are expressly canceled.
完整协议。序言和前言被纳入本协议且为本协议的一部分。本协议(包括本协议所附的任何附件、附录或附表)构成各方就本协议标的事项达成的完整且全部的理解与协议,任何各方之间关于本协议标的事项的其他书面或口头协议均被明确取消。
[Signature Page Follows]
[下接签字页]
IN WITNESS WHEREOF, the undersigned
has duly executed and delivered this Agreement effective as of the Effective Date.
下列签署人已正式签署并递交本协议,自生效日起生效,以昭信守。
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VRB CHINA: |
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VRB中国: |
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VRB Energy System (Beijing) Co. Ltd. |
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普能(北京)能源科技有限公司 |
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By: |
/s/ Yanbao Li |
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由: |
/s/ 李艳保 |
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Name: |
Yanbao Li |
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姓名: |
李艳保 |
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Title: |
Legal Representative |
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职务: |
法定代表人 |
SIGNATURE PAGE TO
VRB CHINA JOINT VENTURE AGREEMENT
IN WITNESS WHEREOF, the undersigned
has duly executed and delivered this Agreement effective as of the Effective Date.
下列签署人已正式签署并递交本协议,自生效日起生效,以昭信守。
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VRB CAYMAN: |
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VRB开曼: |
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VRB Energy Inc. |
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By: |
/s/ Quentin Markin |
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由: |
/s/ Quentin Markin |
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Name: |
Quentin Markin |
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姓名: |
Quentin Markin |
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Title: |
Director |
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职务: |
董事 |
SIGNATURE PAGE TO
VRB CHINA JOINT VENTURE AGREEMENT
IN WITNESS WHEREOF, the undersigned
has duly executed and delivered this Agreement effective as of the Effective Date.
下列签署人已正式签署并递交本协议,自生效日起生效,以昭信守。
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CES: |
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中能储: |
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China Energy Storage Industry Co., Ltd. |
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中能储实业有限公司 |
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By: |
/s/ Zeshuai Han |
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由: |
/s/ 韩泽帅 |
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Name: |
Zeshuai Han |
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姓名: |
韩泽帅 |
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Title: |
Executive Director |
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职务: |
执行董事 |
SIGNATURE PAGE TO
VRB CHINA JOINT VENTURE AGREEMENT
Exhibit A
Cooperation Agreement
Exhibit B
Transition Plan
Exhibit 10.3
COOPERATION AGREEMENT
合作协议
THIS
COOPERATION AGREEMENT (this “Agreement”) is made and entered into October 15, 2024 (the “Execution Date”),
by and among VRB Energy System (Beijing) Co., Ltd., a company registered in Beijing, PRC and existing under the laws of the PRC
and also known as Pu Neng (Beijing) Energy Technology Co., Ltd. (“VRB China”), China Energy Storage Industry
Co., Ltd., a company registered in Beijing, PRC and existing under the laws of the PRC (“CES”), VRB Energy Inc.,
a corporation existing under the laws of the Cayman Islands (“VRB Cayman”), and VRB Energy USA, Inc., a Delaware
corporation (“VRB USA”). Each of VRB China, CES, VRB Cayman, and VRB USA may also be referred to herein individually
as a “Party” and collectively as the “Parties.”
本合作协议(“本协议”)于2024年10月15日(“签署日”)由以下各方签订:VRB
Energy System (Beijing) Co., Ltd.,一家在中华人民共和国北京市注册成立并受中华人民共和国法律管辖的公司,也称普能(北京)能源科技有限公司(“VRB中国”),中能储实业有限公司,一家在中华人民共和国北京市注册成立并受中华人民共和国法律管辖的公司(“中能储”),VRB
Energy Inc.,一家根据开曼群岛法律成立的公司(“VRB开曼”),以及VRB
Energy USA, Inc.,一家特拉华州公司(“VRB美国”)。VRB中国、中能储、VRB开曼以及VRB美国中的每一方各称为“一方”,统称为“各方”。
RECITALS
前言
A. Pursuant
to that certain Purchase, Sale and Investment Agreement of even date herewith by and among VRB China, VRB Cayman, and CES (the “Purchase
Agreement”), CES shall acquire fifty-one percent (51%) of the equity interests in
VRB China and VRB Cayman shall retain the remaining forty-nine (49%) of the equity interests in VRB China.
根据VRB中国、VRB开曼及中能储于本协议同日签订的《购买、出售和投资协议》(“《购买协议》”),中能储将收购VRB中国百分之五十一(51%)的股权,VRB开曼将保留VRB中国剩余百分之四十九(49%)的股权。
B. The
Parties desire to enter into this Agreement to set forth the terms under which they will work together in good faith to support the “VRB”
branded vanadium redox flow battery businesses of VRB China in the VRB China Areas and of VRB USA in the VRB Cayman/USA Areas (each of
VRB China and VRB USA a “Company” and collectively the “Companies” and each of VRB China Areas
and VRB Cayman/USA Areas (as set forth in Schedule 1 of this Agreement) an “Area”
and collectively the “Areas”).
各方希望签订本协议以载明各方将善意协作以支持VRB中国在VRB中国区域以及VRB美国在VRB开曼/美国区域的“VRB”品牌全钒液流电池业务的条款(VRB中国和VRB美国各自称为“公司”,统称为“两公司”,VRB中国区域和VRB开曼/美国区域(如本协议附件1所述)各自称为“区域”,统称为“两区域”)。
COOPERATION AGREEMENT - 1
C. The
execution and delivery of this Agreement, along with the other Transaction Documents, is a condition to the execution of the Purchase
Agreement.
签署和交付本协议以及其他交易文件是签署《购买协议》的条件之一。
D. Any
capitalized terms used in this Agreement and not otherwise defined in this Agreement shall have the meaning given to them in the Joint
Venture Agreement.
本协议中使用的任何定义术语,除非本协议另有定义,应具有其在《合资协议》中赋予的含义。
AGREEMENT
协议
NOW,
THEREFORE, for and in consideration of the payments prescribed in the Purchase Agreement, and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confirmed, and the mutual promises,
covenants, and conditions herein contained and recited, the Parties agree as follows:
据此,鉴于《购买协议》中约定的付款以及其他良好和有价值的对价,其收取及充分性特此确认,并基于此,以及本协议所载的相互承诺、契约和条件,各方同意如下:
Section 1.
Business
Opportunities. It is understood and agreed that the Parties recognize the following mutually beneficial provisions with respect to
cooperation in identification of business opportunities in their respective Areas, and a fair allocation of potential orders between
the Companies with respect to patent protection, cost, customer demands, and capacity, and that these provisions shall only apply for
a period of three (3) years from the Execution Date:
商业机会。各方理解并同意,在识别各自区域的商业机会的合作,以及根据专利保护、成本、客户需求和产能公平分配两公司间的潜在订单方面,各方认可以下互利条款,前述约定仅适用于自签署日起三(3)年内:
(a) Each
Company (“A”) may, but shall not be obligated to, notify the other Company (“B”) of any business opportunity
that becomes known to A that is not in B’s Area.
每家公司(“A”)可以但没有义务将A了解到的不在另一家公司(“B”)区域内的任何商业机会通知B。
(b) Each
Company (“A”) shall notify the other Company (“B”) of any business opportunity that becomes known to A that is
in B’s Area.
COOPERATION AGREEMENT - 2
每家公司(“A”)应将A了解到的在另一家公司(“B”)区域内的任何商业机会通知B。
(c) Each
Company (“A”) shall notify the other Company (“B”) of any business opportunity that becomes known to A in that
A’s Area and for which A is not reasonably able to fulfill the expression of interest or request for proposal from a potential
customer because of a lack of manufacturing capacity or due to price.
每家公司(“A”)应将A了解到的,因其生产能力不足或价格而无法合理满足客户所表达意向或请求报价的在A区域内的商业机会,通知另一家公司(“B”)。
(d) Each
Company (“A”) shall notify the other Company (“B”) if a customer expressly requests production from B or from
within B’s Area.
如果客户明确要求从另一家公司(“B”)或在B的区域内生产,则每家公司(“A”)应通知B。
(e) Any
notification required under this Section 1 shall be made in writing and as promptly as reasonably possible upon the notifying Company’s
knowledge of the necessity to provide notice to the other Company.
本协议第1条所要求的任何通知应以书面形式,并在通知方公司知道有必要向另一家公司发出通知后尽快合理地发出。
(f) A
Company notified of a business opportunity or customer request may pursue such business opportunity or fulfill such customer request
in its sole discretion, and nothing in this Agreement obligates the Company receiving such notification to pursue such business opportunity
or fulfill such request or allows the Company providing the notification the right to pursue such business opportunity or fulfill such
request because the Company receiving such notification declined to pursue such business opportunity or fulfill such request.
收到商业机会或客户要求通知的公司可自行决定寻求该商业机会或满足该客户要求,本协议中的任何条款均不要求收到通知的公司寻求该商业机会或满足客户请求,也不允许提供通知的公司因收到通知的公司拒绝寻求该商机或满足该请求而有权寻求该商机或满足该请求。
(g) A
Company shall not be obligated to notify the other Company of a business opportunity or customer request where the other Company would
be unable to pursue or complete such business opportunity or fulfill such customer request under the Law or where the notification or
other disclosure of such business opportunity or customer request would violate confidentiality restrictions binding upon, or known to,
the Company.
如果根据法律,另一家公司无法寻求或实现该商业机会或满足客户要求,或者通知或以其他方式披露该商业机会或客户要求将违反对公司有约束力的或该公司已知的保密限制,则该公司没有义务将该商业机会或客户要求通知另一家公司。
COOPERATION AGREEMENT - 3
(h) Neither
Company may conduct active marketing activities or actively seek business opportunities in the other Company’s Area without the
approval of the other Company, but provided that this Section 1(h) shall not prevent a Company from undertaking these activities
in furtherance of pursuing any order contemplated by Section 7.
未经另一家公司批准,任何一家公司均不得在另一家公司的区域内积极开展营销活动或积极寻求商机,但本第1(h)条不应妨碍公司为推进本协议第7条所述的任何订单而开展这些活动。
(i) Each
Company shall continue to cooperate with the other Company with respect to any business opportunity in the other Company’s Area
that is known to the Companies as of the Execution Date.
每家公司应继续与另一家公司就在签署日另一家公司区域内的两公司已知晓的任何商业机会进行合作。
Section 2.
Electrolyte
and Equipment. It is understood and agreed that the Parties recognize the following provisions with respect to VRB USA fulfilling
its requirements for electrolyte and Equipment (as defined below), and that these provisions shall only apply for a period of three (3) years
from the Execution Date:
电解液和设备。各方理解并同意,在VRB美国满足其对电解液和设备(定义见下文)的要求方面,各方认可以下条款,前述约定仅适用于自签署日起三(3)年内:
(a) Preferred
Supplier. VRB USA shall use VRB China as its “preferred supplier”; meaning that VRB USA shall first seek to fulfill its
electrolyte and Equipment requirements by purchasing such electrolyte and Equipment from VRB China, and VRB China commits to use its
best efforts to fulfill such requirements. Notwithstanding the foregoing, such arrangement is subject to the following:
优先供应商。VRB美国应将VRB中国作为其“优先供应商”,即VRB美国应首先寻求从VRB中国购买电解液和设备,以满足其对电解液和设备的需求,VRB中国承诺尽最大努力满足这些需求。尽管如此,此安排须遵守以下约定:
Electrolyte:
电解液:
(i) VRB
USA may fulfill its electrolyte requirements from its own manufacturing capacity;
COOPERATION AGREEMENT - 4
VRB美国可利用自身的产能满足其电解液需求;
(ii) VRB
USA may fulfill its electrolyte requirements pursuant to any electrolyte partnering arrangement between VRB USA and a third-party electrolyte
producer or supplier that is not in the VRB China Areas;
VRB美国可根据VRB美国与不在VRB中国区域的第三方电解液生产商或供应商之间的任何电解液合作安排来满足其电解液需求;
(iii) To
the extent VRB China is unable to fulfill VRB USA’s electrolyte requirements from VRB China’s own producing capacity, VRB
China may seek to fulfill such requirements by purchasing the electrolyte from a third-party in the VRB China Areas and selling the electrolyte
to VRB USA on a cost pass-through basis, and to the extent VRB China is still unable to fulfill such requirements, VRB USA may seek to
fulfill such requirements by purchasing the electrolyte from a third-party in China or elsewhere;
如果VRB中国自身的产能无法满足VRB美国的电解液需求,VRB中国可向VRB中国区域的第三方购买电解液,并以成本转嫁方式将电解液出售给VRB美国,以满足VRB美国的电解液需求;如果VRB中国仍无法满足VRB美国的电解液需求,VRB美国可能会从中国或其他地区的第三方购买电解液,以满足VRB美国的电解液需求;
(iv) VRB
USA shall not be obligated to purchase electrolyte from VRB China where it would be contrary to Law;
VRB美国在将违反法律的情况下没有义务从VRB中国购买电解液;
(v) VRB
USA shall not be obligated to purchase electrolyte from VRB China where it is expressly prohibited by VRB USA’s customer;
VRB美国在其客户明确禁止的情况下没有义务从VRB中国购买电解液;
(vi) VRB
USA shall not be obligated to purchase electrolyte from VRB China where it would inhibit or adversely affect any government support,
tax credit, or other incentive available to VRB USA or a VRB USA customer; and
如果从VRB中国购买电解液会抑制或不利于VRB美国或其客户可获得的任何政府支持、税收减免或其他激励措施,则VRB美国没有义务从VRB中国购买电解液;以及
(vii) VRB
USA shall not be obligated to purchase electrolyte from VRB China where any other supplier of electrolyte can provide better commercial
terms than those offered by VRB China after factoring in relevant duties, taxes, and fees for delivery of the electrolyte to the jurisdiction
of VRB USA’s customer, provided that VRB USA shall notify VRB China of such comparison and provide proof and documents supporting
such analysis;
COOPERATION AGREEMENT - 5
如果任何其他电解液供应商在计入相关关税、税费以及将电解液交付至VRB美国客户所在管辖区域的费用后,能够提供比VRB中国更好的商业条款,则VRB美国没有义务从VRB中国购买电解液,条件是VRB
美国应将此类对比通知
VRB 中国,并提供支持此类分析的证明和文件;
Equipment
(defined to include only the following: VRB battery systems, manufacturing equipment, cell stacks,
and DC modules):
设备(仅包括VRB电池系统、制造设备、电池堆和直流模块):
(i) VRB
USA may fulfill its Equipment requirements from its own manufacturing capacity;
VRB美国可利用自身的产能满足其设备需求;
(ii) VRB
USA may fulfill its Equipment requirements from purchases directly from third-party vendors that are not in the VRB China Areas; and
VRB美国可直接从不在VRB中国区域的第三方供应商采购设备,以满足其设备需求;以及
(iii) VRB
USA shall not be obligated to purchase Equipment from VRB China where any other supplier of Equipment can provide better commercial terms
than those offered by VRB China after factoring in relevant duties, taxes, and fees for delivery of the Equipment VRB USA or its customer,
provided that VRB USA shall notify VRB China of such comparison and provide proof and documents supporting such analysis.
在计入相关关税、税费以及VRB美国或其客户交付设备的费用后,如果任何其他设备供应商能够提供比VRB中国提供的更好的商业条款,则VRB美国没有义务从VRB中国购买设备,条件是VRB美国应将此类对比通知VRB中国,并提供支持此类分析的证明和文件。
(b) Pricing.
The electrolyte and Equipment supplied by VRB China to VRB USA pursuant to these provisions shall be at the then-current market price
made available by VRB China to its customers, subject to a friendship discount to be reasonably and mutually agreed upon by the Companies
in each particular instance.
定价。VRB中国根据本协议条款向VRB美国提供的电解液和设备应按照VRB中国向其客户提供的当时的市场价格,但可享受两公司在各个具体情形下合理商定的友好折扣。
COOPERATION AGREEMENT - 6
Section 3.
Interim Technical Assistance. It
is understood and agreed that the Parties recognize the following provisions with respect to the provision of technical assistance from
VRB China to VRB USA for establishing VRB USA’s VRB battery manufacturing capacity in the U.S.:
临时技术援助。各方理解并同意,在VRB中国向VRB美国提供技术援助以在美国建立VRB美国的VRB电池产能方面,各方认可以下条款:
(a) From
the Execution Date until December 31, 2025, VRB China shall provide the following technical assistance services to VRB USA at no
cost (provided, that, VRB USA shall be responsible for any reasonable out-of-pocket expenses, such as airfare, accommodation, and visa
costs):
自协议签署日起至2025年12月31日,VRB中国应免费向VRB美国提供以下技术援助服务(但VRB美国应负责任何合理的实付费用,如机票、住宿和签证费用):
(i) support
periodic tours of VRB China VRB-ESS manufacturing facilities in Tongzhou, Huaihua, and Changzhi, including battery assembly, electrolyte
production and research and development facilities;
支持VRB美国定期参观VRB中国位于通州、怀化和长治的VRB-ESS制造设施,包括电池组装、电解液生产和研发设施;
(ii) provide
expertise in the calibration and operation of specialized manufacturing equipment, including procurement and implementation of any manufacturing
automation equipment or systems;
提供专业制造设备校准和操作方面的专业知识,包括采购和实施任何制造自动化设备或系统;
(iii) train,
both in China and the U.S., VRB USA’s workforce, on the operation and maintenance of specialized equipment (but only to the extent
of time commitments further set out in this Section 3(a));
在中国和美国对VRB美国的员工进行专业设备操作和维护方面的培训(但仅限于本第3(a)条约定的时间承诺范围内);
(iv) share
guidelines and feedback for optimizing production efficiency, reducing costs, and minimizing waste;
分享优化生产效率、降低成本和减少浪费的指南和反馈意见;
(v) provide
VRB USA electronic and physical copies of all engineering, research and development, manufacturing, and testing documentation related
to VRB-ESS design, production, operation and maintenance and performance results, for the Gen3 components and systems as well as future
iterations of VRB-ESS developed only prior to December 31, 2025, and where documentation is not available, VRB China will respond
to VRB USA’s inquiries in a timely manner (meaning within no more than 5 working days);
COOPERATION AGREEMENT - 7
为Gen3组件和系统及仅在2025年12月31日之前开发的VRB-ESS未来迭代提供与VRB-ESS设计、生产、操作和维护以及性能结果相关的所有工程、研发、制造和测试文件的VRB美国电子和物理副本。如果文件不可用,VRB中国将及时回应VRB美国的询问(不超过5个工作日);
(vi) provide
detailed workflow processes and procedures for quality control, from raw material inspection and handling to final assembly and testing;
提供详细的质量控制工作流程和程序,从原材料检查和处理到最终组装和测试;
(vii) share
information on key suppliers for vanadium electrolyte, cell stack materials and other essential components, including detailed specifications;
分享钒电解液、电池堆材料和其他关键部件(包括详细规格)主要供应商的信息;
(viii) assist
in establishing relationships with reliable and cost-effective suppliers for parts in China that cannot be sourced technically and economically
from within VRB USA’s jurisdictions;
协助与可靠的、具有成本效益、从技术及经济上在VRB美国管辖区域内无法获得的零部件的中国供应商建立关系;
(ix) support
VRB USA in achieving certifications and seeking compliance with international and U.S. safety and environmental regulations, e.g. assistance
in certifying VRB-ESS products to UL1973 and UL9540 standards;
支持VRB美国获得认证,并寻求符合国际和美国的安全和环境法规,如协助认证VRB-ESS产品符合UL1973和UL9540标准;
(x) provide
sales engineering support for technical inquiries from VRB USA potential customers, including technical support for customer-requested
modifications to VRB-ESS system designs;
为VRB美国潜在客户的技术咨询提供销售工程支持,包括为客户要求的VRB-ESS系统设计修改提供技术支持;
COOPERATION AGREEMENT - 8
(xi) make
the employees of VRB China then serving in the following or equivalent positions (if the following positions do not exist), and any other
employees who are necessary for the provision of the technical assistance referenced herein, available for a Teams videoconference with
VRB USA employees once per week (not to exceed 2 hours per week total); e.g. Director of International Projects; Director of R&D;
Director of Product Development; Director of Quality; Director of Supply Chain; and Director of IT;
让VRB中国届时担任以下或同等职位的员工(如果不存在以下职位)以及与提供本协议所述技术援助所需的任何其他员工每周与VRB美国员工进行一次Teams视频会议(每周共计不超过2小时)例如国际项目总监、研发总监、产品开发总监、质量总监、供应链总监和IT总监;
(xii) only
during 2025 and on not less than 2 weeks prior notice, make up to 4 employees of VRB China then serving in the following or equivalent
positions (if the following positions do not exist) available to travel to the U.S. to meet with VRB USA employees for no more than a
total of 2 weeks each (for a total of 8 weeks and with no more than one employee traveling to the U.S. at a time); e.g. Director of International
Projects; Director of R&D: Director of Product Development; Director of Quality; and Director of Project Fulfillment;
仅在2025年期间且在提前至少2周通知的情况下,使VRB中国公司从事以下职位或同等职位(如果不存在以下职位)的最多4名员工可以前往美国与VRB美国公司的员工会面,每次会面时间不超过2周(总共8周,一次最多只能有一名员工前往美国);例如国际项目总监;研发总监:产品开发总监;质量总监;项目执行总监;
(xiii) provide
no longer than one week of VRB-ESS system commissioning, operations and maintenance training by two VRB China technical personnel to
VRB USA employees in Arizona after commissioning of the two Pod100 units purchased by Ivanhoe Electric; and
在Ivanhoe
Electric购买的两组Pod100组件投入调试后,由两名VRB中国技术人员向亚利桑那州的VRB美国员工提供不超过一周的VRB-ESS系统调试、操作和维护培训;和
(xiv) provide
remote monitoring support for operation of VRB-ESS units in the manufacturing and test process through factory acceptance testing of
the first two production units by VRB USA.
在VRB美国对前两台生产组件进行工厂验收测试过程中为VRB-ESS组件在制造和测试过程中的操作提供远程监控支持。
From the Execution Date until December 31, 2025,
each of VRB China and VRB USA shall share with the other any possible items for improvements to the technology being discussed pursuant
to the above provisions in this Section 3(a), and shall promptly provide feedback and assistance to achieve such technology improvements.
自签署日起至
2025 年 12 月
31 日,VRB 中国和
VRB 美国均应与对方分享根据上述第
3(a)条的规定所讨论的任何可能的技术改进事项,并应及时提供反馈和协助以实现此类技术改进。
(b) Any
additional technical assistance services not contemplated above that VRB China agrees to provide VRB USA at VRB USA’s request at
any time prior to December 31, 2025 shall be provided by VRB China at-cost, meaning that the recipient shall reimburse the provider
for the provider’s actual cost to provide the technical assistance services (which includes employee salary cost for the time they
are providing the services) and reimbursement of any out-of-pocket expenses (such as airfare, accommodation, and visa costs).
COOPERATION AGREEMENT - 9
VRB中国同意应VRB美国于2025年12月31日前任何时间提出的要求向VRB美国提供的任何上述未约定的额外技术援助服务应由VRB中国按成本提供,这意味着接受方应支付提供方提供技术援助服务的实际成本(包括提供服务期间的员工工资成本)以及任何实付费用(如机票、住宿和签证费用)。
Section 4.
Trademarks
and Marketing Materials. It is understood and agreed that the Parties recognize the following provisions with respect to use of VRB-related
trademarks and marketing materials, and that these provisions shall only apply for a period of three (3) years from the Execution
Date:
商标和营销材料。各方理解并同意,在使用与VRB相关的商标和营销材料方面,各方认可以下条款,下述约定仅适用于自签署日起三(3)年内:
(a) Each
Company may use in its discretion any of the trademarks held by it in its Area as of the date hereof (or after giving effect to the IP
Reorganization (as defined below)), (collectively, the “Existing Marks”), subject to the limitations in Section 4(c) regarding
press releases.
每家公司可自行决定使用截至本协议签订之日(或知识产权重组生效后(定义见下文))在其区域内持有的任何商标(统称为“现有标志”),但须遵守第4(c)条关于新闻稿的限制。
(b) Any
marketing materials prepared by either Company that incorporate any of the Existing Marks shall be provided to the other Company and
made available for the other Company’s use in their own marketing materials.
任何一家公司制备的包含任何现有标志的任何营销材料均应提供给另一家公司,并供另一家公司在自己的营销材料中使用。
(c) Neither
Company shall make any material public announcements or statements in respect of the battery business of VRB China or VRB USA, or both,
in each case using any VRB-related trademarks, without the prior written consent of the other Company (which consent shall not be unreasonably
withheld, conditioned or delayed), and the Companies shall cooperate as to the timing and contents of any such material public announcements
or statements. Notwithstanding the foregoing, nothing contained in this Agreement shall prevent any Party, after notification to the
other Parties to the extent legally permissible, from making any announcement or publication required by Law or from making any filings
with Governmental Authorities that, based on advice of legal counsel, may be required, in each case without the consent of the other
Company. “Material public announcements” do not include any ordinary course trade industry disclosures, product or project
promotions, or similar matters directed to potential or existing customers, or the energy storage industry generally.
COOPERATION AGREEMENT - 10
未经另一家公司事先书面同意(该同意不得无理拒绝、附加条件或延迟),任何公司均不得使用任何与VRB相关的商标进行任何关于VRB中国或VRB美国或双方的电池业务的重大公告或声明,且两公司应就任何此类重大公告或声明的时间和内容进行合作。尽管如此,本协议的任何条款均不妨碍任何一方在法律允许的范围内通知其他各方后,在未经另一家公司同意的情况下,发布法律要求的任何公告或出版物,或根据法律顾问的建议向政府部门提交可能需要的任何文件。“重大公告”不包括针对潜在或现有客户的任何常规贸易行业披露、产品或项目推广或类似事项,或者一般储能行业的事项。
(d) Neither
Company may use or file for any new trademarks that incorporate the “VRB” brand or any aspects of any of the word marks or
design marks included in any of the Existing Marks without the prior approval of the other Company.
未经另一家公司事先批准,两家公司均不得使用或申请任何包含“VRB”品牌或现有标志中任何文字标志或设计标志的任何方面的任何新商标。
(e) Each
Company may create and use in its discretion any trademarks that do not incorporate the “VRB” brand or any aspects of any
of the word marks or design marks included in any of the Existing Marks.
每家公司可自行决定创建和使用不包含“VRB”品牌或现有标志中任何文字标志或设计标志的任何方面的任何商标。
(f) Neither
Company shall file for any new trademarks outside of its Area except solely for the purpose of protecting against counterfeit uses of
such trademarks by third-parties.
两家公司均不得在其区域外申请任何新商标,除非仅仅是为了防止第三方仿冒。
Section 5.
IP
Reorganization.
(a) It
is understood and agreed that the Parties recognize the following provisions with respect to the reorganization of the registered Intellectual
Property held by VRB China and VRB Cayman/VRB USA as contemplated in the Term Sheet entered into by CES and VRB Cayman on September 23,
2024 and as described in the representations and warranties made by VRB China and VRB Cayman to CES in the Purchase Agreement (the “IP
Reorganization”). As of the Execution Date, all filings to complete the IP Reorganization have been submitted to the local
filing agents in the applicable jurisdictions except for Indonesia and the United States of America. VRB Cayman shall make all best efforts
to submit the remaining filings to complete the IP Reorganization by not later than the Completion Date (as defined in the Purchase Agreement),
and to otherwise take all steps necessary, reasonable or appropriate to complete the IP Reorganization as promptly as possible, in each
case at VRB Cayman’s sole expense. VRB Cayman shall regularly update CES (meaning not less than once in each 30-day period) with
respect to the status of the IP Reorganization and cooperate with, and respond to requests of, CES and its agents with respect to its
efforts to ensure that the IP Reorganization is timely completed in all respects to CES’s reasonable satisfaction.
COOPERATION AGREEMENT - 11
知识产权重组。
各方理解并同意,各方承认以下关于VRB中国和VRB开曼/VRB美国持有的注册知识产权重组的规定,如中能储和VRB开曼于2024年9月23日签订的《条款清单》所述,以及VRB中国与VRB开曼在《购买协议》中向中能储作出的陈述和保证所述(“知识产权重组”)。截至签署日,完成知识产权重组的所有文件均已提交给除印度尼西亚和美利坚合众国以外的适用司法管辖区的当地备案代理人。VRB
开曼应尽最大努力在不迟于交割日(如《购买协议》中所定义)之前提交剩余文件以完成知识产权重组,并采取一切必要、合理或适当的措施尽快完成知识产权改组,每种情况下费用由VRB
开曼承担。VRB开曼应定期向中储能更新知识产权重组的最新情况(即每30天至少一次),并与中储能及其代理人合作,回应他们的要求,努力确保知识产权重组在各方面及时完成,达到中储能的合理满意:
(b) Except
as otherwise provided in Section 4(f), VRB China shall not register any Intellectual Property, including the nationalization of
any patent applications filed under the Patent Cooperation Treaty, in the VRB Cayman/USA Areas, and VRB Cayman and VRB USA shall not
register any Intellectual Property, including the nationalization of any patent applications filed under the Patent Cooperation Treaty,
in the VRB China Areas.
除第4(e)条另有约定外,VRB中国不得在VRB开曼/美国区域注册任何知识产权,包括不在VRB开曼/美国区域基于《专利合作条约》提交任何国内专利申请;VRB开曼和VRB美国不得在VRB中国区域注册任何知识产权,包括不在VRB中国区域基于《专利合作条约》提交任何区域内专利申请。
Section 6.
Cross-Licensing.
Subject to compliance with the applicable rules and regulation in each Company’s Area, it is understood and agreed that the
Parties recognize the following provisions with respect to cross-licensing of any improvement or modification of the design, manufacturing,
production, or operation of the VRB batteries as such are designed, manufactured, produced, or operated by VRB China , VRB Cayman, and/or
VRB USA as of the date hereof (“New Inventions”), and that these provisions shall only apply until December 31,
2025:
交叉许可。在遵守各公司区域的适用规则和条例的前提下,各方理解并同意,各方承认以下关于任何改进或修改的交叉许可约定,这些改进或修改与截至本协议日期由VRB中国,VRB开曼和/或VRB美国设计、制造、生产或运营的VRB电池的设计、生产或操作有关(“新发明”),前述约定仅适用于2025年12月31日之前:
(a) The
Companies will convene regular meetings (meaning at least once in each 6-month period) to discuss any New Inventions researched /
developed or is researching / developing by VRB China, VRB Cayman and/or VRB USA and the prospects of applying for patent rights
with respect such New Inventions under the Patent Cooperation Treaty and in their respective Areas. If either Company desires to
apply for any potential patent rights with respect to any New Inventions, it will notify the other Company in advance of such
application and will provide copies of the application and all supporting documentation to the other Company.
COOPERATION AGREEMENT - 12
两公司将定期召开会议(即至少每6个月一次),讨论任何VRB中国、VRB开曼和/或VRB美国已经研究、开发的或正在研究、开发的新发明以及根据《专利合作条约》和在各自区域申请此类新发明专利权的前景。如果任何一家公司希望申请与任何新发明有关的任何潜在专利权利,须提前通知另一家公司,并向另一家公司提供申请副本和所有支持文件。
(b) Each
Company (“A”) hereby grants to the other Company (“B”) a perpetual, royalty-free, non-sublicensable license and
right to apply for patent rights with respect to any New Inventions in B’s Area. Either Company may apply for patent rights with
respect to any New Inventions under the Patent Cooperation Treaty, in which case the Company applying for such patent rights will identify
in the application VRB China as the applicant with respect to assigning such patent rights in the VRB China Areas and VRB USA as the
applicant with respect to assigning such patent rights in the VRB Cayman/USA Areas. The Companies agree to execute and deliver any inventor
assignments or similar agreements, or any notices, certificates, consents, instruments, or other documents, as either Company may reasonably
require to facilitate the provisions of this Section 6.
每一公司(“A”)特此授予另一公司(“B”)永久、免版税、不可再许可的许可和权利,以在B区域内申请任何新发明的专利权。任何一家公司均可根据专利合作条约就任何新发明申请专利权,在这种情况下,申请此类专利权的公司将在申请中确定VRB中国为在VRB中国区域转让此类专利权方面的申请人,VRB美国为在VRB开曼/美国区域转让此类专利权方面的申请人。两公司同意签署和交付任何发明人转让或类似协议,或任何通知、证书、同意书、文书或其他文件,以促进本第6条的规定。
(c) It
is the obligation of each Company to take any and all appropriate actions to file for the patent rights for any Inventions in its respective
Area, and bear any and all costs related thereto.
各公司有义务采取任何和所有适当的行动,在其各自区域内为任何发明申请专利权,并承担与此相关的任何和所有费用。
Section 7.
Orders
in Respective Jurisdictions. It is understood and agreed that the Parties recognize the following provisions with respect to how
VRB Cayman and VRB USA may help VRB China fulfill orders in the VRB Cayman/USA Areas:
在各自管辖区域的订单。各方理解并同意,对于VRB开曼和VRB美国如何帮助VRB中国完成VRB开曼/美国区域的订单,各方认可以下条款:
(a) For
a period of 3 years from the Execution Date, if VRB USA lacks sufficient overall manufacturing capacity to meet the customer’s
order:
自签署日起3年内,若VRB美国缺乏足够的整体产能来满足客户的订单时:
(i) VRB
USA shall notify VRB China of any potential order for which it does not have enough manufacturing capacity to fulfill and for which the
customer agrees to fulfillment by VRB China;
COOPERATION AGREEMENT - 13
VRB美国应通知VRB中国其没有足够产能完成并且客户同意由VRB中国完成的任何潜在订单;
(ii) VRB
China shall fulfill the order on the commercial terms agreed by VRB USA and the customer which will be assigned to VRB China or paid
over to VRB China by VRB USA; and
VRB中国将按照VRB美国和客户商定的商业条款履行订单,这些订单将转让给VRB中国或由VRB美国支付给VRB中国;以及
(iii) VRB
China shall provide the customer with the same sales engineering support it provides to any arm’s length customer via VRB USA or,
if approved by VRB USA, direct to the customer; provided, that VRB China shall include VRB USA on all substantial communications with
the customer, including any sales proposals, inclusive of pricing and terms and conditions.
VRB中国应通过VRB美国向客户提供与任何独立客户相同的销售工程支持,或者如果VRB美国批准,则直接向客户提供;前提是,VRB中国应在与客户的所有实质沟通中包括VRB美国,包括涵盖定价和条款和条件的任何销售提案。
(b) When
the end-use customer or ultimate beneficial owner is a PRC enterprise that requires the energy storage system for direct use in the VRB
Cayman/USA Areas or the customer specifically requests that the order be fulfilled by VRB China, so long as it is not part of an arrangement
intended to circumvent VRB USA’s rights to sell product in the VRB Cayman/USA Areas:
当最终用户或最终受益所有人是一家要求在VRB开曼/美国区域直接使用储能系统的中国企业,或者客户特别要求由VRB中国履行订单时,只要这不是旨在规避VRB美国在VRB
开曼/美国区域销售产品的权利的安排的一部分:
(i) The
Company who receives such request shall notify the other Company promptly;
收到此类请求的公司应立即通知另一家公司;
(ii) VRB
China shall fulfill the order on the commercial terms agreed by VRB USA and the customer which will be assigned to VRB China or paid
over to VRB China by VRB USA; and
COOPERATION AGREEMENT - 14
如果VRB美国收到此类订单,并且客户同意,VRB中国应按照VRB美国和客户商定的商业条款履行订单,该订单将被分配给VRB中国或由VRB美国支付给VRB中国;和
(iii) VRB
China shall provide the customer with the same sales engineering support it provides to any arm’s length customer via VRB USA or,
if approved by VRB USA, direct to the customer; provided, that VRB China shall include VRB USA on all substantial communications with
the customer, including any sales proposals, inclusive of pricing and terms and conditions.
VRB中国应通过VRB美国向客户提供与任何公平交易客户相同的销售工程支持,或者如果VRB美国批准,则直接向客户提供;前提是,VRB中国应将VRB美国纳入与客户的所有实质性沟通中,包括任何销售提案,包括定价和条款和条件。
(c) In
the event that VRB China is fulfilling an order in VRB Cayman/USA Areas pursuant to this Section 7, VRB USA shall take reasonable
measures, such as sub-licensing of VRB USA’s Intellectual Property Rights in VRB Cayman/USA Areas to VRB China, solely for the
purposes of ensuring that VRB China may utilize the subject Intellectual Property for the purposes of fulfilling the order.
如果VRB中国根据第7条在VRB开曼/美国区域履行订单,VRB美国应采取合理措施,例如将VRB美国在VRB开曼/美国区域的知识产权再许可给VRB中国,其唯一目的是确保VRB中国可以为履行订单的目的而使用特定知识产权。
(d) Any
marketing materials to be provided or used with respect to any orders in the VRB Cayman/USA Areas to be fulfilled by VRB China pursuant
to the provisions of this Section 7 shall require the mutual approval of VRB China and VRB USA.
根据本第7条的规定,VRB中国在VRB开曼/美国区域履行的任何订单所提供或使用的任何营销材料都需要VRB中国和VRB美国的共同批准。
Section 8.
Sales
or Licenses of Intellectual Property to Third-Parties. It is understood and agreed that the Parties recognize the following provisions
with respect to a Company’s sale or license of Intellectual Property to third-parties:
向第三方出售或许可知识产权。各方理解并同意,各方认可以下关于公司向第三方出售或许可知识产权的条款:
(a) Notwithstanding
any provisions of this Agreement to the contrary, VRB USA shall not sell or license any Intellectual Property, directly or indirectly
(including pursuant to a change of Control of VRB USA or VRB Cayman), to any Person whose business, at the time of the transaction, is
predominantly in China or that, to the knowledge of VRB USA or VRB Cayman at the time of the transaction, who intends to commercialize
or monetize such Intellectual Property with any method in VRB China Areas, expressly including, without limitation, Dalian Rongke, Beijing
Star, Shanghai Electric, Sumitomo Electric, Redflow, and Weilide (collectively, a “Competitor”).
COOPERATION AGREEMENT - 15
尽管本协议中有任何相反的规定,VRB美国不得直接或间接(包括基于
VRB美国或VRB开曼控制权变更)向在交易时业务主要在中国的任何人士或据VRB美国或VRB开曼在交易时所知,计划在VRB中国区域通过任何方式将此类知识产权商业化或货币化的任何人士出售或许可任何知识产权,明确包括但不限于大连融科、北京星辰、上海电气、住友电气、Redflow和伟力得
(统称为“竞争对手”)。
(b) Subject
to the restriction in Section 8(a), the Parties expressly permit the following licenses of Intellectual Property:
在符合第
8(a)条的限制的情况下,各方明确允许以下知识产权的许可:
(i) Any
license of Intellectual Property to customers or subcontractors of the Company as necessary to sell or provide products or services to
the Company’s customers;
向公司客户或分包商许可任何必要的知识产权,以便向公司客户销售或提供产品或服务;
(ii) Any
license of Intellectual Property to an Affiliate or for the purpose of R&D activities; or
向关联方或为研发活动目的授予的任何知识产权许可;或
(iii) Any
license of Intellectual Property by a Company to the other Company as contemplated herein.
公司根据本协议向另一家公司授予的任何知识产权许可.
(c) Nothing
in this Agreement shall prohibit VRB USA from undertaking an initial public offering of its equity securities or from undertaking a change
of Control so long as the acquirer in such change of Control is not a Competitor.
只要控制权变更中的收购方不是竞争对手,本协议中的任何内容均不禁止VRB美国对其股权进行首次公开募股或进行控制权变更。
(d) Other
than the exceptions listed in Section 8(b), for any potential sale or license of any Intellectual Property of VRB USA in compliance
with the restriction in Section 8(a), and with respect to any patent rights only for so long as such patent rights are enforceable
under applicable patent Law, VRB China shall have a right of first refusal to purchase or license the Intellectual Property to be sold
or licensed to the third-party on the same terms and conditions as being offered to the third-party (“ROFR”). VRB
USA shall provide VRB China with notice of the potential sale or license, including the material terms and conditions being offered by
VRB USA to the third-party, and VRB China shall have a period of thirty (30) days from the date of such notice to notify VRB USA whether
VRB China elects to exercise the ROFR. If VRB China timely notifies VRB USA that VRB China elects to exercise the ROFR, then VRB China
and VRB USA shall close (which shall include the payment transfer but may be pending on filing completion) the sale or license of the
Intellectual Property within thirty (30) days from the date of such notice. If VRB China notifies VRB USA that it does not elected to
exercise the ROFR or fails to timely notify VRB USA that VRB China elects to exercise the ROFR, then VRB USA shall have a period of thirty
(30) days from the expiration of VRB China’s period of time in which it may notify VRB USA that VRB China elects to exercise the
ROFR to close the sale or license of the Intellectual Property to the third-party on the terms set forth in VRB USA’s notice of
the potential sale or license to VRB China and, if VRB USA fails to close the sale or license within such time period, the foregoing
ROFR provisions shall apply to any future sale or license of the Intellectual Property.
COOPERATION AGREEMENT - 16
除第8(b)条所列的例外情况外,对于符合第8(a)条限制的VRB美国任何知识产权的任何潜在销售或许可,以及对于任何专利权,只要该专利权根据适用的专利法可以强制执行,VRB中国应享有优先购买权或许可权,以向第三方提供的相同条款和条件购买或许可将出售或许可给第三方的知识产权(“优先购买权”)。VRB美国应向VRB中国提供潜在出售或许可的通知,包括VRB美国向第三方提供的重要条款和条件,VRB中国应在自该通知之日起三十(30)天内通知VRB美国VRB中国是否选择行使优先购买权。如果VRB中国及时通知VRB美国VRB中国选择行使优先购买权,则VRB中国和VRB美国应在通知之日起三十(30)天内完成知识产权的销售或许可(包括付款转账,但申请的完成可待定)。如果VRB中国通知VRB美国其未选择行使优先购买权,或未能及时通知VRB
美国VRB中国选择行使优先购买权,则VRB美国应在VRB中国通知VRB美国VRB中国选择行使优先购买权的期限届满后三十(30)天内,按照VRB美国向VRB中国发出的潜在销售或许可通知中约定的条款,完成向第三方销售或许可知识产权的工作,并且,如果VRB美国未能在上述期限内完成出售或许可,则上述优先购买权条款应适用于知识产权的任何未来出售或许可。
Section 9.
Confidentiality.
The confidentiality obligations and related provisions in the Joint Venture Agreement are hereby incorporated into and made a part
of this Agreement by this reference and shall be binding upon each of the Parties.
保密。《合资协议》中的保密义务和相关约定特此通过引用纳入本协议,并成为本协议的一部分,对各方均具有约束力。
Section 10.
Default.
违约。
(a) If
CES or VRB Cayman is in Default under the Joint Venture Agreement, or if CES or VRB Cayman has materially breached a covenant in the
Purchase Agreement, or a Party has materially breached a covenant in this Agreement, and that breach has not been remedied within ninety
(90) days of being notified in writing of the breach, or if such breach is incapable of being remedied, then CES’s and VRB China’s
obligations under this Agreement (with respect to the Default of VRB Cayman or the breach of the Purchase Agreement or this Agreement
by VRB Cayman or VRB USA) or VRB Cayman’s and VRB USA’s obligations under this Agreement (with respect to the Default of
CES or the breach of the Purchase Agreement or this Agreement by CES or VRB China) shall be suspended until the Party is no longer in
Default or the breach has been remedied, or the Parties have agreed for a feasible solution (in the case that such breach is incapable
of being remedied). The suspension shall include, without limitation, Section 1, Section 6, and Section 7 , but in no
event shall include VRB USA or VRB Cayman’s obligation in relation to the IP Reorganization.
COOPERATION AGREEMENT - 17
如果中能储或VRB开曼违反了《合资协议》,或者如果中能储或VRB开曼严重违反了《购买协议》中的契约,或者一方严重违反了本协议中的契约,并且在收到违约书面通知后九十(90)天内未对违约行为进行补救,或者如果违约行为无法补救,则中能储和VRB中国在本协议项下的义务(就VRB
开曼的违约或VRB开曼或VRB美国违反《购买协议》或本协议)或VRB
开曼和VRB美国在本协议下的义务(就中能储违约或VRB中国违反《购买协议》或本协议)应暂停,直至该方不再违约或违约行为得到补救,或者各方已就可行的解决方案达成一致(在违约无法补救的情况下)。暂停应包括但不限于第1条、第6条和第7条,但是无论何时均不包括VRB美国或VRB开曼与知识产权重组有关的义务。
Section 11.
Annual Review.
Given the long-term relationship of the Parties and their obligations under this Agreement, they shall meet within the first ninety (90)
days of each calendar year 2025, 2026, and 2027 to review this Agreement and discuss any necessary modifications, which will not be binding
unless they are memorialized in a writing signed by all Parties.
年度审查。鉴于各方的长期关系及其在本协议项下的义务,各方应在2025、2026和2027每个日历年的前九十(90)天内会面,审查本协议并讨论任何必要的修改,除非各方以书面形式记录并签署,否则这些修改不具约束力。
Section 12.
Compliance
with Laws. The rights and obligations are only exercisable and enforceable to the extend it is in compliance with the applicable
rules and regulations.
遵守法律。权利和义务仅在符合适用规则和规定的范围内可行使和执行。
Section 13.
Change of Control. In the event of a change
of Control of VRB USA (excluding a change of Control of the voting securities of VRB USA’s ultimate parent) or the sale of all
or substantially all of the assets of VRB USA, or in the event CES, alone or together with its Affiliates, ceases to own at least 30%
of VRB China, then the provisions of this Agreement shall automatically terminate as of the date of such event except for Section 5(b);
provided, however, in no event shall any change in Control or sale of all or substantially all of the assets of VRB USA result in VRB
USA being Controlled or such assets being owned by a Competitor unless otherwise agreed by VRB China.
控制权变更。若VRB美国的控制权发生变更(不包括VRB美国最终母公司有表决权证券控制权的变更),或VRB美国全部资产或实质上全部资产被出售,或中能储单独或与其关联方共同不再拥有
VRB中国至少30%的股份,则除第5(b)条外,本协议的条款应于该事件发生之日自动终止。但是,除非
VRB 中国另行同意,在任何情况下,控制权变更或VRB美国全部资产或实质上全部资产的出售均不得导致VRB美国被竞争对手控制或该等资产被竞争对手拥有。
Section
14. No-Shop. VRB Cayman agrees
that for a period of three (3) years from the Execution Date that it shall not solicit or seek any offers or inquiries from any person
or company for the sale of Control of VRB USA, but provided that the foregoing restriction does not prevent VRB Cayman from responding
to, discussing, accepting, or consummating a transaction that would otherwise be prohibited by this section and that is made and received
on an unsolicited basis from any person or company.
不得寻找买家。VRB开曼同意自签署日三(3)年的期间内其不会兜售或向任何个人或公司寻求关于出售VRB美国控制权的要约或问询,但前提是该限制不禁止VRB开曼回应、讨论、接受或完成其本应在本条下禁止的、在未兜售的情况下从任何个人或公司处收到并达成的交易。
Section 15.
Governing
Law. This Agreement shall be governed by the law of the PRC (excluding the law of Hong Kong SAR, Macao SAR and Taiwan), without regard
to conflicts of law principles that would result in the application of any law other than the law of the PRC.
COOPERATION AGREEMENT - 18
适用法律。本协议受中华人民共和国法律(不包括香港特别行政区、澳门特别行政区和台湾的法律)管辖,不考虑导致适用中华人民共和国法律以外任何法律的法律冲突原则。
Section 16.
Language.
This Agreement has been prepared in both the English language and in the Chinese language, with the Chinese language prevailing in the
case of any inconsistency.
语言。本协议以英文和中文两种语言编写,如有任何不一致之处,以中文为准。
Section 17.
Successors and Assigns.
The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of
the Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the Parties hereto or their
respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly
provided in this Agreement.
继承人和受让人。本协议的条款和条件应惠及各方各自的继承人和受让人,并对其具有约束力。除本协议有明确约定外,本协议任何条款均无意,明示或默示,赋予本协议各方或其各自的继承人和受让人以外的任何一方本协议项下的或因本协议而产生的任何权利、补救措施、义务或责任。
Section 18.
Amendments
and Waivers. This Agreement may not be amended, except in a writing signed by all Parties to this Agreement. Any waiver, permit,
consent or approval of any kind or character on the part of any Party of any breach or default under this Agreement, or any waiver on
the part of any Party of any provisions or conditions of this Agreement, must be in writing and signed by the Party providing the waiver,
and shall be effective only to the extent specifically set forth in such writing.
修订与弃权。除非本协议所有缔约方签署书面文件,否则不得修订本协议。任何一方对本协议项下任何违反或违约行为的任何种类或性质的放弃、许可、同意或批准,或任何一方对本协议任何条款或条件的任何放弃,必须以书面形式做出,并由提供放弃的一方签署,且仅在该书面形式具体约定的范围内有效。
Section 19.
Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.
可分割性。本协议任何条款的无效性或不可执行性绝不影响任何其他条款的有效性或可执行性。
[Signature Page Follows]
[下接签署页]
COOPERATION AGREEMENT - 19
IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Agreement effective as of the
date first hereinabove set forth.
下列签署人已正式签署并递交本协议,自上述日期起生效,以昭信守。
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CES: |
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中能储: |
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China Energy Storage Industry Co., Ltd. |
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中能储实业有限公司 |
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By: |
/s/ Zeshuai Han |
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由: |
/s/ 韩泽帅 |
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|
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Name: |
Zeshuai Han |
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姓名: |
韩泽帅 |
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|
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Title: |
Executive Director |
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|
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职务: |
执行董事 |
SIGNATURE PAGE TO
COOPERATION AGREEMENT
IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Agreement effective as of the
date first hereinabove set forth.
下列签署人已正式签署并递交本协议,自上述日期起生效,以昭信守。
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VRB CAYMAN: |
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VRB开曼: |
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VRB Energy Inc. |
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By: |
/s/
Quentin Markin |
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由: |
/s/
Quentin Markin |
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Name: |
Quentin Markin |
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姓名: |
Quentin Markin |
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Title: |
Director |
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|
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职务: |
董事 |
SIGNATURE PAGE TO
COOPERATION AGREEMENT
IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Agreement effective as of the
date first hereinabove set forth.
下列签署人已正式签署并递交本协议,自上述日期起生效,以昭信守。
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VRB CHINA: |
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VRB中国: |
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VRB Energy System (Beijing) Co., Ltd. |
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普能(北京)能源科技有限公司 |
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By: |
/s/ Yanbao Li |
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由: |
/s/ 李艳保 |
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Name: |
Yanbao Li |
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姓名: |
李艳保 |
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Title: |
Legal Representative |
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职务: |
法定代表人 |
SIGNATURE PAGE TO
COOPERATION AGREEMENT
IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Agreement effective as of the
date first hereinabove set forth.
下列签署人已正式签署并递交本协议,自上述日期起生效,以昭信守。
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VRB USA: |
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VRB美国: |
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VRB Energy USA, Inc. |
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By: |
/s/ Taylor Melvin |
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由: |
/s/ Taylor Melvin |
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Name: |
Taylor Melvin |
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姓名: |
Taylor Melvin |
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Title: |
Director |
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职务: |
董事 |
SIGNATURE PAGE TO
COOPERATION AGREEMENT
Schedule I
附表一
VRB
China and VRB Cayman/USA Areas
VRB中国和VRB开曼/美国区域
VRB China Areas:
VRB中国区域:
Asia (including
Chinese Mainland, Honk Kong SRA, and Taiwan Region, India, Japan, South Korea, Philippines, Vietnam, Thailand, Indonesia, Russia,
Mongolia, Brunei Darussalam, Krygyzstan, Belarus, Armenia, Azerbaijan, Georgia,
Cambodia, Democratic People’s Republic of Korea, Kazakhstan, Laos, Sri Lanka, Malaysia, Oman, Singapore, Syrian Arab Republic,
Tajikistan, Turkmenistan, Uzbekistan, Vietnam)
亚洲(包括中国大陆、香港特别行政区和台湾省地区、印度、日本、韩国、菲律宾、越南、台湾、泰国、印度尼西亚、俄罗斯、蒙古、文莱达鲁萨兰国、吉尔吉斯斯坦、白俄罗斯、亚美尼亚、阿塞拜疆、格鲁吉亚、柬埔寨、朝鲜民主主义人民共和国、哈萨克斯坦、老挝、斯里兰卡、马来西亚、阿曼、新加坡、阿拉伯叙利亚共和国、塔吉克斯坦、土库曼斯坦、乌兹别克斯坦、越南)
Middle East (including
Saudi Arabia, Abu Dhabi, Dubai, Qatar, Bahrain, United Arab Emirates, Iraq, Iran, Jordan, Kuwait)
中东(包括沙特阿拉伯、阿布扎比、迪拜、卡塔尔、巴林、阿拉伯联合酋长国、伊拉克、伊朗、约旦、科威特)
Africa (including
South Africa, Nigeria, Angola, DRC, Egypt, Burkina Faso, Benin, Botswana, Congo, Central Africa Republic, Côte d’Ivoire,
Cameroon, Cabo Verde, Djibouti, Algeria, Gabon, Ghana, Gambia, Guinea, Equatorial Guinea, Guinea-Bissau,
Kenya, Comoros, Liberia, Lesotho, Libya, Morocco, Madagascar, Mali, Mauritania, Mauritius,
Malawi, Mozambique, Namibia, Niger, Rwanda, Seychelles, Sudan, Sierra Leone, Senegal, Sao Tome and Principe, Eswatini, Chad, Togo,
Tunisia, United Republic of Tanzania, Uganda, Zambia, Zimbabwe)
非洲(包括南非、尼日利亚、安哥拉、刚果民主共和国、埃及、布基纳法索、贝宁、博茨瓦纳、刚果、中非共和国、科特迪瓦、喀麦隆、佛得角、吉布提、阿尔及利亚、加蓬、加纳、冈比亚、几内亚、赤道几内亚、几内亚比绍、肯尼亚、科摩罗、利比里亚、莱索托、利比亚、摩洛哥、马达加斯加、马里、毛里塔尼亚、毛里求斯、马拉维、莫桑比克、纳米比亚、尼日尔、卢旺达、塞舌尔、苏丹、塞拉利昂、塞内加尔、圣多美和普林西比、斯威士兰、乍得、多哥、突尼斯、坦桑尼亚联合共和国、乌干达、赞比亚、津巴布韦)
VRB
Cayman/USA Areas:
VRB开曼群岛/美国区域:
North America (including USA, Canada,
Mexico)
北美(包括美国、加拿大、墨西哥)
Oceana (Australia, New Zealand, Papua
New Guinea, Samoa)
大洋洲(澳大利亚、新西兰、巴布亚新几内亚、萨摩亚)
South America (including
Chile, Brazil, Colombia, Ecuador, Peru, )
南美洲(包括智利、巴西、哥伦比亚、厄瓜多尔、秘鲁)
Europe (including
Albania, Austria, Belgium, Switzerland, Cyprus, Czechia, Denmark, UK, France, Germany, Estonia, Spain, Finland, Italy, Greece, Croatia,
Hungary, Ireland, Iceland, Liechtenstein, Lithuania, Luxembourg, Latvia, Monaco, Moldova, Montenegro, North Macedonia, Malta,
Netherlands, Norway, Poland, Portugal, Romania, Serbia, Sweden, Slovenia, Slovakia, San Marino, Türkiye,
Ukraine)
欧洲(包括阿尔巴尼亚、奥地利、比利时、瑞士、塞浦路斯、捷克、丹麦、英国、法国、德国、爱沙尼亚、西班牙、芬兰、意大利、希腊、克罗地亚、匈牙利、爱尔兰、冰岛、列支敦士登、立陶宛、卢森堡、拉脱维亚、摩纳哥、摩尔多瓦、黑山、北马其顿、马耳他、荷兰、挪威、波兰、葡萄牙、罗马尼亚、塞尔维亚、瑞典、斯洛文尼亚、斯洛伐克、圣马力诺、土耳其、乌克兰)
Israel
以色列
Central America
(including Belize, Costa Rica, Guatemala, Honduras, Nicaragua, Panama, El Salvador)
中美洲(包括伯利兹、哥斯达黎加、危地马拉、洪都拉斯、尼加拉瓜、巴拿马、萨尔瓦多)
Caribbean (including
Antigua and Barbuda, Barbados, Cuba, Dominica, Dominican Republic, Grenada, Jamaica, Saint Kitts and Nevis, Saint Lucia, Trinidad and
Togabo, Saint Vincent and the Grenadines) 加勒比地区(包括安提瓜和巴布达、巴巴多斯、古巴、多米尼克、多米尼加共和国、格林纳达、牙买加、圣基茨和尼维斯、圣卢西亚、特立尼达和多巴哥、圣文森特和格林纳丁斯)
Balkans (including
Bosnia and Herzegovina, Bulgaria)
巴尔干半岛(包括波斯尼亚和黑塞哥维那、保加利亚)
Exhibit 99.1
October 15, 2024
Ivanhoe Electric’s
VRB Energy Subsidiary and Red Sun Sign Definitive Agreements for Formation of New Grid Scale Battery Joint Venture
Ivanhoe Electric
to Allocate $20 million of Transaction Proceeds to Establish US-Domiciled Vanadium Redox Flow Battery Business
PHOENIX, ARIZONA – Ivanhoe
Electric Inc. (“Ivanhoe Electric”) (NYSE American: IE; TSX: IE) Executive Chairman Robert Friedland and President and
Chief Executive Officer Taylor Melvin are pleased to announce today the signing of Definitive Agreements (the
“Agreements”) between the Company’s 90%-owned subsidiary, VRB Energy Inc. (“VRB Energy”), a subsidiary
of privately held Shanxi Red Sun Co., Ltd. (“Red Sun”), and certain other affiliates, finalizing the terms of
the transaction announced on September 23, 2024 (refer to Ivanhoe Electric’s September 23, 2024 news
release).
The Joint Venture, which will
receive a $35 million capital increase from Red Sun, is being formed to expand manufacturing and sales of vanadium redox flow
battery systems. In addition to the formation of the Joint
Venture, Ivanhoe Electric and VRB Energy, using $20 million of the transaction proceeds, will establish a separate United
States-based vanadium redox battery business, to be located in Arizona.
Mr. Melvin commented: “Today’s signing
of the definitive agreements between our VRB Energy subsidiary and Red Sun allows Ivanhoe Electric to retain
exposure to growing grid-scale battery markets through the creation of our Joint Venture.
This transaction also provides us with $20 million that we will invest in the establishment of a domestic battery assembly facility
in Arizona, capable of producing 50 megawatts per year of VRB-ESS® vanadium flow batteries.”
The agreements were signed on October 15,
2024. The establishment of the 51% / 49% joint venture is expected to occur by the end of the month, pending certain other conditions
precedent, with several post-transfer matters to be subsequently completed following certain Chinese regulatory filings. Ivanhoe Electric
has completed an 8-K filing of the Agreement with the U.S. Securities and Exchange Commission.
About Red Sun
Shanxi Red Sun Co., Ltd (“Red
Sun”) is a prominent Asian investment firm specializing in new energy and advanced technologies, with several publicly listed companies
under its umbrella. Red Sun's diverse portfolio spans industries such as new energy, new materials, high-end manufacturing, advanced
equipment, biopharmaceuticals, modern agriculture, and cultural communication. Guided by a philosophy of sustained financial backing,
comprehensive resource allocation, and targeted industrial development, Red Sun has recently expanded its focus to include mineral resources,
critical materials, and key technologies in the energy storage supply chain. Moving forward, the group is committed to deepening its
investments in new energy storage, positioning itself as a future leader in this rapidly growing sector.
About VRB Energy
VRB Energy is a clean technology
innovator that has commercialized the largest vanadium flow battery on the market, the VRB-ESS®, certified to UL1973 product safety
standards. VRB-ESS® is best suited for solar photovoltaic integration onto utility grids and industrial sites, as well as backup
for electric vehicle charging stations. Vanadium flow battery systems are ideally suited to stabilize isolated microgrids, integrating
solar and wind power in a safe, reliable, low-maintenance, and environmentally friendly manner. VRB Energy grid-scale energy storage
systems allow for flexible, long-duration energy with proven high performance. VRB Energy is a subsidiary of Ivanhoe Electric.
Website: www.vrbenergy.com
About Ivanhoe Electric
We are a U.S. company that combines
advanced mineral exploration technologies with electric metals exploration projects predominantly located in the United States. We use
our accurate and powerful Typhoon™ geophysical surveying system, together with advanced data analytics provided by our subsidiary,
Computational Geosciences Inc., to accelerate and de-risk the mineral exploration process as we seek to discover new deposits of critical
metals that may otherwise be undetectable by traditional exploration technologies. We believe the United States is significantly underexplored
and has the potential to yield major new discoveries of critical metals. Our mineral exploration efforts focus on copper as well as other
metals including nickel, vanadium, cobalt, platinum group elements, gold and silver. Through the advancement of our portfolio of electric
metals exploration projects, headlined by the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah, as well
as other exploration projects in the United States, we intend to support United States supply chain independence by finding and delivering
the critical metals necessary for the electrification of the economy. We also operate a 50/50 joint venture with Saudi Arabian Mining
Company Ma’aden to explore for minerals on ~48,500 km2 of underexplored Arabian Shield in the Kingdom of Saudi Arabia.
Website: www.ivanhoeelectric.com.
Contact Information
Mike Patterson
Vice President, Investor Relations
and Business Development
Email: mike@ivnelectric.com
Phone: 1-480-601-7878
Follow us on |
|
Ivanhoe Electric’s Executive
Chairman Robert Friedland: @robert_ivanhoe
Ivanhoe Electric: @ivanhoeelectric
Ivanhoe Electric’s investor relations
website located at www.ivanhoeelectric.com should be considered Ivanhoe Electric’s recognized distribution channel for purposes
of the Securities and Exchange Commission’s Regulation FD.
Forward-Looking Statements
Certain statements in this news release
constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable U.S.
and Canadian securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of Ivanhoe Electric, its projects, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements
can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”,
“expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”,
“forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be achieved. These statements
reflect Ivanhoe Electric’s current expectations regarding future events, performance and results and speak only as of the date
of this news release.
Such statements in this news release
include, without limitation statements regarding the establishment of the Joint Venture by the end of the month, the successful completion
of conditions precedent to closing, the successful completion of post-transfer matters following Chinese regulatory filings, the success
of the businesses of the Joint Venture, the capital contributions of Red Sun toward the Joint Venture, the establishment, success and
funding of a vanadium redox battery manufacturing business located in the Arizona, and other planned or potential developments in the
businesses of Ivanhoe Electric.
Forward-looking statements are based
on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to significant
risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due
to various factors, including any inability to negotiate and sign mutually agreeable definitive agreements; any inability to satisfy
all applicable closing conditions; changes in the prices of copper or other metals Ivanhoe Electric is exploring for; the results of
exploration and drilling activities and/or the failure of exploration programs or studies to deliver anticipated results or results that
would justify and support continued exploration, studies, development or operations; the final assessment of exploration results and
information that is preliminary; the significant risk and hazards associated with any future mining operations, extensive regulation
by the U.S. government as well as local governments; changes in laws, rules or regulations, or their enforcement by applicable authorities;
the failure of parties to contracts with Ivanhoe Electric to perform as agreed; and the impact of political, economic and other uncertainties
associated with operating in foreign countries, and the impact of the COVID-19 pandemic and the global economy. These factors should
not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risk factors described in Ivanhoe
Electric’s Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission at www.sec.gov.
No assurance can be given that such
future results will be achieved. Forward-looking statements speak only as of the date of this news release. Ivanhoe Electric cautions
you not to place undue reliance on these forward-looking statements. Subject to applicable securities laws, Ivanhoe Electric does
not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring
after the date of this news release, and Ivanhoe Electric expressly disclaims any requirement to do so.
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Ivanhoe Electric (AMEX:IE)
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From Dec 2024 to Jan 2025
Ivanhoe Electric (AMEX:IE)
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From Jan 2024 to Jan 2025