Independent Director and Audit Committee Chairman Appointment Letter – China Pharma Holdings, Inc. and Yingwen Zhang
China Pharma Holdings, Inc. appoints Mr. Yingwen Zhang as an independent director and Chairman of its Audit Committee. His term begins upon board approval and ends at the next annual shareholders meeting. Mr. Zhang will receive an annual retainer of RMB 40,000, paid quarterly. The agreement is confirmed by Mr. Zhang's signature, indicating his acceptance of the terms.
Exhibit 10.8
January 11, 2008
Re: Service about being independent director and Chairman of the Audit Committee of China Pharma Holdings, Inc
Dear Mr. Yingwen Zhang
On behalf of the Board of Directions and the Company, I am pleased to welcome you to join the Board of the China Pharma Holdings, Inc as an independent director and Chairman of the Audit Committee. I look forward to working with you. Your starting date will be the date of the board approves your engagement and your engagement for this term will end on the date of the next annual shareholders meeting.
Your compensation will consist of the following:
| 1) | A retainer of RMB 40,000 per year, payable quarterly within 5 days of the start of the quarter; |
If you agree to the terms and conditions stated above, please sign and date this letter below.
I look forward to working with you and sincerely hope that your service will be enjoyable and rewarding.
Sincerely
Chairman of the Board
China Pharma Holdings, Inc
Response:
This letter correctly sets forth the understanding of Mr. Yingwen Zhang.
By: ____________________________
Date:___________________________
