Employment Contract

EX-10.5 2 fs12013a1ex10v_anpulofood.htm EMPLOYMENT AGREEMENT Unassociated Document
Exhibit 10.5
 
Employment Contract

BETWEEN:  Laifeng Anpulo (Group) Food Development Co., Ltd., a company legally incorporated under the laws of People’s Republic of China, having a mailing address at Hangkong Road, Xiangfeng Town, Laifeng County, Hubei, acting and represented herein by Mr. Wenping Luo, Legal Representative, declaring duly authorized, (hereinafter called the "COMPANY")
 
AND:   Mr. Wenping Luo, residing at 39 Fengshan Road, Xiangfeng Town, Laifeng County, Hubei, (hereinafter called the “EMPLOYEE ")
 
(COMPANY and EMPLOYEE hereinafter collectively called "Parties")

WHEREAS:
 
COMPANY requires the services of EMPLOYEE as President and CEO;
 
EMPLOYEE agreed to provide COMPANY his full-time services as President and CEO;
 
the parties wish to confirm their agreement in writing;
 
the parties have the capacity and quality of exercise all the rights necessary for the conclusion and implementation of the agreement found in this contract;
 
THEREFORE THE FOREGOING, THE PARTIES AGREE AS FOLLOWS:
 
1. Employment

EMPLOYEE agrees to assume full-time for COMPANY (minimum of forty (40) hours per week) the role of president and CEO during the entire duration of the contract;

2. Term
 
This contract is for an initial term of 36 months, namely from December 1, 2013 to November 30, 2016, renewable for an additional period of 24 months unless either party terminates it in writing at least sixty (60) days before the expiration of the initial term;
 
 
 
 
 
3. Responsibilities
 
EMPLOYEE agrees and undertakes to COMPANY to the following: The services must be made full time in a professional manner, according to the rules generally accepted by industry.
 
3.1 Shall be subject to regulatory oversight of the Board, and shall take overall responsibility for the production, operation and management of the COMPANY, to ensure the safety of production, effective management and the preservation and appreciation of assets.
 
3.2 Shall be strictly compliance with laws, regulations and financial and accounting system, drafting plans on the establishment of the COMPANY’s internal management departments and basic management system of the COMPANY.
 
3.3 Unless agreed by the boards, shall not make change to the legal representative, company name, business scope of the company.
 
3.4 Unless agreed by the boards, shall not dispose the property of the COMPANY, including but not limited to transfer, selling off, mortgaging, pledge, leasing or giving out.
 
3.5 If the COMPANY needs to ask for a loan, consent of the broad shall be made.
 
3.6 Shall not provide external guarantee in the name of the COMPANY.
 
3.7 Shall regularly submit factual financial reports to the boards.
 
3.8 Deciding on the hiring or dismissing of the persons-in-charge other than those who shall be decided by the boards.
 
3.9 Performing other responsibility granted by the articles of association or the boards.
 
4. CONSIDERATION
 
4.1 Service Awards
 
In consideration of the provision of services, COMPANY to pay EMPLOYEE, as compensation;
 
The gross amount of RMB 240,000.00 annually calculated at the rate of twelve (12) equal monthly installments consecutively of RMB20, 000.00 each.
   
4.2 Expenditure incurred
 
COMPANY will reimburse EMPLOYEE all reasonable expenses incurred in connection with this Agreement, upon presentation of appropriate documentation. The date of reimburse EMPLOYEE shall be 24th of each month.
 
 
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5. Commitment to confidentiality and nondisclosure
 
EMPLOYEE recognizes that certain disclosures to be provided by COMPANY have or may have considerable strategic importance, and therefore represent trade secrets for purposes of this contract. During the term of this Contract and for a period of 36 months following the end of it, EMPLOYEE is committed to COMPANY to:
 
a) keep confidential and not disclose the information;
 
b) take and implement all appropriate measures to protect the confidentiality of the information;
 
c) not disclose, transmit, exploit or otherwise use for its own account or for others, elements of information;
 
6. Exclusivity of service provider
 
During the term of this Contract and for a period of 24 months following the end of it, EMPLOYEE is committed to COMPANY not render services to or for direct or indirect competitors of COMPANY.
 
7. Termination of Contract
 
Either party may terminate this contract at any time, upon presentation of a sixty (60) days notice given to the other party.

8. GENERAL PROVISIONS
 
Unless specific provision to the contrary in this Agreement, the following provisions apply.
 
8.1 Force Majeure
 
Neither party can be considered in default under this contract if the performance of its obligations in whole or in part is delayed or prevented by following a force majeure situation. Force majeure is an external event, unforeseeable, irresistible and it absolutely impossible to fulfill an obligation.
 
 
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8.2 Severability
 
The possible illegality or invalidity of an article, a paragraph or provision (or part of an article, a paragraph or provision) does not in any way affect the legality of other items, paragraphs or provisions of this contract, nor the rest of this article, this paragraph or provision unless a contrary intention is evident in the text.
 
8.3 Notices
 
Any notice to a party is deemed to have been validly given if in writing and sent by registered or certified mail, by bailiff or by courier to such party at the address listed at the beginning of this contract or any other address that the party may indicate a similar notice to another party. A copy of any notice sent by mail must be sent by one mode of delivery mentioned above.
 
8.4 No Waiver
 
The inertia, neglect or delay by any party to exercise any right or remedy under this Agreement shall in no way be construed as a waiver of such right or remedy.
 
8.5 Contract Amendment
 
This contract may be amended only by a writing signed by all parties.
 
9. Applicable Laws and Election of domicile
 
This contract is subject to the laws of the People’s Republic of China.
 
The parties agree to elect domicile in the judicial district of Laifeng County, Hubei，China, and chose it as the appropriate district to hear any claim arising from the interpretation, application, and performance, the entry into force, validity and effect of this contract.
 
10. Currencies
 
All sums of money under this contract refer to Chinese currency.

11. Effectiveness and Copies
 
This contract will come into force upon signature and seal by both parities. This contract is made in duplicate and both are of equally binding force. The COMPANY and the EMPLOYEE each holds one copy.
 
 
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IN THE CITY OF LAIFENG, HUBEI PROVINCE, 
December 1st, 2013
   
/s/ Laifeng Anpulo (Group) Food Development Co., Ltd.
  
Laifeng Anpulo (Group) Food Development Co., Ltd.
  
   
/s/ Wenping Luo  
Wenping Luo
  
 
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