Common use of Governing Laws and Dispute Resolution Clause in Contracts

Governing Laws and Dispute Resolution. 10.1 The Parties agree that the execution, performance, interpretation and dispute settlement of this Agreement shall be governed by the laws of the People’s Republic of China. 10.2 Any dispute arising from the execution and performance of this Agreement or in connection herewith shall be settled by the Parties through friendly consultation; if such dispute fails to be settled through consultation within 30 days from the occurrence of such dispute, either Party may submit such dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The seat of arbitration shall be Shanghai. The arbitration award shall be final and binding to the parties. During the arbitration period, the Parties shall continue to perform other obligations under this Agreement, except for the issues in dispute submitted for arbitration. 10.3 If there is any discrepancy between the interpretation of terms hereof and the interpretation corresponding to the “Cooperation Agreement on PD-L1 Project, dated December 27, 2018, between Guilin Sanjin Pharmaceutical Co., Ltd. and Adagene (Suzhou) Limited”, the latter interpretation shall prevail and supersede the interpretation of this Agreement.

Governing Laws and Dispute Resolution. 10.1 The Parties agree that the execution, performance, interpretation and dispute settlement of this Agreement shall be governed by the laws of the People’s Republic of China. 10.2 Any dispute arising from the execution and performance of this Agreement or in connection herewith shall be settled by the Parties through friendly consultation; if such dispute fails to be settled through consultation within 30 days from the occurrence of such dispute, either Party may submit such dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The seat place of arbitration shall be Shanghai. The arbitration award shall be final and binding to the parties. During the arbitration period, the Parties shall continue to perform other their obligations under this Agreement, except for the issues in dispute submitted for arbitration. 10.3 If there is any discrepancy between the interpretation of the terms hereof and the interpretation corresponding to the “Cooperation Agreement on PD-L1 [***] Project, dated December 27May 22, 2018, 2019 between Guilin Sanjin Pharmaceutical Co., Ltd. Dragon Boat Biopharmaceutical (Shanghai) Limited. and Adagene (Suzhou) Limited”, the interpretation of the latter interpretation shall prevail and supersede the interpretation of this Agreement.