Employment Agreement between Gulf Resources, Inc. and Mr. Jiang Shitong (Independent Director & Audit Committee Chair)

Contract Categories: Human Resources › Employment Agreements
Summary

This contract is between Gulf Resources, Inc. and Mr. Jiang Shitong, appointing him as Independent Director and Chairman of the Audit Committee from April 1, 2008, to March 31, 2011. Mr. Jiang will work at the company's Chinese facility, help guide the company toward a NASDAQ listing, and receive an annual compensation of $10,000. The agreement outlines work hours, holidays, participation in social insurance, and procedures for workplace injuries. It also covers contract termination, dispute resolution, and compliance with Chinese employment laws.

Read More Arrow
EX-10.11 20 e605170_ex10-11.htm Unassociated Document
 
Exhibit 10.11


-Unofficial Translation-

Employment Contract

Party A: Gulf Resources, Inc
Party B: Mr. Jiang Shitong
Date: 1 Apr 2008
Comply with the <Chinese Employment Law>, <Chinese Employment Contract Law> and related regulation and law, both Party A and Party B agree to sign the contract and will comply with the all the clauses listed in this contract.

1. Basic Information

(1)       Party A: Gulf Resources, Inc
Legal Representative: Yang Ming
(2)       Party B Jiang Shitong, Gender: Male
Type of Identity: Non Agricultural
ID: 370105196810303395
Start Working Date in Party A:  April 1, 2008
Home Address: Room 302 Unin8/3, No 82 Bohai Road, Shouguang City, Shandong Province

2. Contract Term
(3) The contract has a fixed term duration.
The contract start being effective from April 1, 2008 and will be terminated on the date of 31 Mar 2011.

3. Main Work and Working Location
(4) Party B agrees to fill in the position as Independent Director & Chairman of the Audit Committee as needed by Party A.

(5) The working location is the Chinese real operation facility of Gulf Resources.

(6) The working of Party B should lead Gulf moving to NASDAQ through following US requirements.

4. Working hours and Holidays

(7) Party A will arrange a fixed working schedule of Party B. Party B will not work over 8 hours per day, not over 40 hours a week. If the workload of Party B over the stated time or have temporary work, Party A should obtain the permit from related regulator.
 
 
 
 

 
(8) The holidays issued for Party B will follow Chinese Public Holidays policy.

5. Compensation
(9) Party A will pay the annual compensation to Party B in March by cash, the annual compensation is $10000.
6. Other Welfare
(10) Party A and B will participate in Chinese Society Insurance Program, Party A will conduct the procedure for Party B and take certain obligation.

(11) If Party B is sick or Injured during the work, the expenses will following the related policies by the government.

(12) If Party B encounters occupational desease or Injured during the work, the expenses will following the related policies by the government.

7. Protection of Employment Terms and harm
(15) Due to the position requirement, Party A prepare the safety conduction and provide safety goods to Party B complying with government policy and regulation.

(16)  Party B should comply with Party A’s safety employment policy and prevent illegal action and accident to reduce occupation risks.

(17) Party A should enhance occupational desease management and establish related policies.
8. The termination of Contract and redeem

(18) Party A and B terminate or renew the contract should comply with the <Chinese Employment Contract Law>

(19) When the contract is terminated, Party A will provide a confirmation letter to Party B and finish all the related leaving matters within 15 days.

(20) Party B should pass the working depending the contract requirement, if need to be redeemed, should be done as working pass.

10. The conduction of disputant and others
(21) If there is disputant between two parties, can apply for intermediation to Intermediation Commission; if can’t be resolved, can apply to arbitrate commission.

(22) If there is any conflict to regulation or policies stated by Government and Beijing local government, can be conducted complying with regulation.

(23) There are two copies of the contract, each Party hold one copy.

Party A(Signature)                          (signed by Ming Yang)
Party B(Signature)                   (signed by Jiang Shitong)

Legal Representative

Date: 31 Mar 2008