Employment Agreement Between China Teletech Holding, Inc. and Ms. Qing Yu as Part-Time CFO (March 2013–March 2014)

Contract Categories: Human Resources › Employment Agreements
Summary

China Teletech Holding, Inc. has hired Ms. Qing Yu as a part-time Chief Financial Officer from March 5, 2013, to March 4, 2014. Ms. Yu will prepare US GAAP consolidated financial statements and related disclosures, based on subsidiary financials reviewed or audited by US auditors each quarter. She is required to visit the company two to three times during the year, with travel expenses covered by the company. Compensation includes a monthly payment of RMB5,000 and 500,000 shares of company stock upon the agreement’s start.

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EX-10.1 2 exh10-1.htm EMPLOYMENT AGREEMENT WITH MS. YU EFFECTIVE AS OF MARCH 5, 2013. _

Exhibit 10.1

Financial Consultant Service Agreement

Party A: China Teletech Holding, Inc.

Party B: Ms. Qing Yu (Jane)

Party A agrees to employ Party B as part-time CFO during the period from March 5, 2013 to March 4, 2014.

As CFO, the working scopes include:

  • Preparation of whole set of US GAAP consolidated financial statements (including disclosure notes and MD&A) based on financial statements of each subsidiary reviewed or audited by US auditors quarterly;

  • During the employment period, Party B needs to visit Party A two to three times and three days each time. All travel expenses shall be borne by Party A.

Party A shall pay remuneration to Party B by cash and company common stock of Party A. Details are as below:

  • Party A pay RMB5,000 to Party B by the 10th day of each month.

  • Party A will pay for 500,000 shares company stock to Party B when the agreement comes into effect.

This agreement takes effect after being signed by both parties. This agreement has made in duplicate, one for each party.

Party A (Stamp): Party B (Signature):

Date: March 4, 2013