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. Maochun Kang, Legal Representative, declaring duly authorized, (hereinafter called the "COMPANY")

 

(COMPANY and EMPLOYEE hereinafter collectively called "Parties")

COMPANY requires the services of EMPLOYEE as Chief Financial Officer (CFO);

 

EMPLOYEE agreed to provide COMPANY his full-time services as CFO;

 

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:

 

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

 

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;

 

 

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 Set-up and/or oversee all financial and operational controls and metrics within the organization.

3.2 Maintain executive responsibility for financial operations, including working capital, capital expenditures, debt levels, taxes, budget, and general accounting.

3.3 Develop and direct financial plans to the strategic business plan, company growth, and market opportunities and direction.

3.4 Establish and maintain stable cash flow management policies and procedures, and ensure cash resources are available for daily operations and business and product development.

3.5 Analyze current and future business operations and plans to determine financial effectiveness.

3.6 Establish the performance goals, allocate resources, and assess policies for employees, through other managers.

 

 

In consideration of the provision of services, COMPANY to pay EMPLOYEE, as compensation;

 

The gross amount of RMB 120,000.00 annually calculated at the rate of twelve (12) equal monthly installments consecutively of RMB 10,000.00 each.

   

 

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.

 

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;

 

 

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.

 

Either party may terminate this contract at any time, upon presentation of a sixty (60) days notice given to the other party.

 

 

Unless specific provision to the contrary in this Agreement, the following provisions apply.

 

 

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.

 

 

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.

 

 

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.