EXHIBIT 10.52
INDEMNIFICATION AGREEMENT
WHEREAS, SHENZHEN BAK BATTERY CO., LTD., a publicly held company
organized in China, established in 2001, located in Shenzhen, China (herein
referred to as "BAK Battery"), and Heritage Management Consultants, Inc., a
South Carolina corporation ("Heritage"), along with Xxxxx X. Xxxx ("Xxxx")
acting on behalf of Heritage, (herein referred to jointly as "Consultant"), are
presently engaged in a contract in which Heritage and Xxxx provide consulting
services to BAK Battery; and
WHEREAS, Heritage and Xxxx have expressed their desire to continue
providing consulting services to BAK Battery if BAK Battery agrees to provide
the indemnification contained in this Agreement.
NOW, THEREFORE, in consideration of the above premises and ten dollars
and other good and valuable consideration, the receipt of which is hereby
acknowledged, BAK Battery hereby agrees to indemnify and save harmless both Xxxx
and Heritage as well as Heritage's officers, employees, and agents from all
suits, actions, losses, damages, claims, or liability of any character, type or
description including without limiting the generality of the foregoing all
expenses of litigation, court costs and attorney's fees arising out of or
occasioned by the acts of BAK Battery, its agents or employees, or occasioned by
the acts of either Xxxx or Heritage in the execution or performance of the
services provided by either Heritage or Xxxx, at any time from the inception of
BAK Battery and Consultant's agreement for consulting services and until such
time after any pertinent limitation period expires after the termination of the
agreement between BAK Battery and Consultant.
As part of this indemnification, BAK Battery agrees to defend and hold
harmless Consultant from and against any and all liabilities arising from the
consulting agreement. As such, Consultant shall not be liable to BAK Battery, or
to anyone who may claim any right due to its relationship with BAK Battery, for
any acts or omissions on the part of the Consultant or the agents or employees
of the Consultant in the performance of Consultant's services under this
agreement. The Company shall hold Consultant free and harmless from any
obligation, costs, claims, judgments, attorney's fees, or attachments arising
from or growing out of the services rendered to BAK Battery.
EXECUTED this 25th day of July 2005.
SHENZHEN BAK BATTERY COMPANY, LTD.:
By: /s/ Xxxxxxxxx Xx
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Printed Name: Xxxxxxxxx Xx
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Its: President & CEO
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