Attached files
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| 8-K - QKL Stores Inc. | v199574_8k.htm |
Exhibit
10.1
Employment
Contract
The
employment contract (hereinafter referred to as the "Contract") entered into on
October 18, 2010 in Daqing City, the parties are:
Daqing
Qing Ke Long Chain Commerce Co., Ltd., a company under the People’s Republic of
China (hereinafter referred to as "China", the purpose of this contract,
excluding Hong Kong SAR China, Macao Special Administrative Region and Taiwan
region) the laws of the limited liability company (hereinafter
"Company").
Party
A
Legal
representative: Zhuangyi Wang
Address:
Dongfeng Village, Daqing City Saertu by Street
Party
B
Tsz-Kit
Chan, Hong Kong residents (hereinafter referred to as "employee")
Hong Kong
identity card number: K516232 (7)
Address:
Flat B 8th Floor, Tung Shan Mansion Taikoo Shing, Hong Kong,
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1.
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POSITION
AND RESPONSIBILITIES
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1.1 Positions.
The Company employs the employee as chief financial officer (CFO) position. The
overall responsibilities are providing services of capital market-related works
and financial strategies, including but not limited to the Company’s affiliates
- Nasdaq listed company QKL STORES INC.'s financial
reporting. Employee should be in accordance with the industry
standard usually associated with the job-related duties and the Company may also
assign other related duties.
Employee
should report to the Company's CEO Mr. Zhuangyi Wang. Employee's terms of
responsibilities will be adjusted when necessary.
1.2 Duty.
Company will provide
employee with a job description outlining the duties and obligations of employee
at work. According to job requirements, employee would need to travel in China
and overseas. Employee should be familiar with the company’s expense
claiming policy on traveling. In specific, employee can reimburse any
expenditure on the maintenance of his professional qualifications, including but
not limited to the membership fees, registration fees, examination fees,
continuing education courses and other expenses relating to professional
organizations such as American Institute of Certified Public Accountants
(AICPA), Association of Chartered Certified Accountants (ACCA) and the Hong Kong
Institute of Certified Public Accountants (HKICPA).
1.3 Other
activities. During employment period, the employee shall make its best time,
energy and ability to fulfill his duties, to diligence, loyalty and
conscientious and with responsible attitude to promote the development of
business and should be of its own best efforts to promote the interests of Party
A.
1.4 No conflict. Employee represents and
warrants that, the employee signed this contract, to accept the Company to
employ and discharge its responsibilities under this contract does not violate
the employee may have to other employers, individuals or institutions any
obligation, including any other individual or agency specifically or
confidential information which has any obligations.
1.5 Holiday.
In accordance with applicable laws, regulations, this contract and staff
handbook of the Company, the employee shall be entitled to the minimum annual
leave and statutory holidays under the Labor Law in China and Hong
Kong.
1.6 Working hours. The Company and the
employee agree that due to the professional nature of works, the employee will
not have a fixed working hour system. The Company and employee here confirm
that, the employee's job function determines the amount of payment of its work.
Remunerations stipulated by the contract have fully compensated the
employee.
1.7 Place of work. Place of work in Hong
Kong, but for the completion of duties, the Company would require employee to
arrive promptly to the location of the Company. In the performance of its duties
under this contract, the employee may be required to work in a place other than
Hong Kong and Daqing.
1.8 General Insurance. Company will provide
employee with health insurance and business travel
protection.
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2.
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SALARY
AND BENEFITS
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2.1 Salary. Employee's salary after tax is
50,000 yuan / month. Employee's salary will be paid by wire transfer to a
designated financial institution. Salaries are payable at the end of the
month.
2.2 Employee
stock options. According to the Company's employee stock options plan, the
employee will be granted subscription options on an annual basis based on his
performance of the work and performance of listed company.
2.3 Social insurance. Employee confirms
that the salary of the contract includes the cost of social insurance. The
Company are not required to buy any social insurance for
employee.
2.4 Tax. Employee benefits and salary
income and the option should be involved in the tax burden borne by the
employee, the Company will deduct the total wages of employee of the tax and the
tax on behalf of the employee's pay to the relevant government
departments. The salary of this contract is after deduction of
tax.
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3.
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CONTRACT
PERIOD
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3.1 Contract period. After signing, the
contract is valid for 2 years ("Term") unless earlier terminated in accordance
with the provisions of this contract.
3.2 Contract
renewal. At least 30 days before the expiry of the contract, the Company and
employee can renew the contract, or the Company upon written notice to employee
can refuse to renew the contract. If the Company decides to renew the contract,
the employee should decide before the expiry of the contract to accept or reject
the renewal. If the employee fails to respond before the expiration of the
contract, it should be regarded as the employee agrees that the contract
duration was renewed, and the terms and conditions of this contract will be the
same.
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4.
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LABOR
DISCIPLINE
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4.1 Labor discipline. Employee shall abide
by the terms of this contract and the Company developed all of the relevant
provisions of the labor discipline in the employee handbook or other document
listed in the other work systems and procedures. Executive or employee shall
comply with the rules and regulations.
4.2
Communication
with the outside world. Without the Company’s prior approval or authorization,
the employee cannot communicate with party other than the party A for terms and
working conditions on the job, the company's business and related
matters.
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5.
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TO
TERMINATE THE CONTRACT BY THE
COMPANY
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5.1 Dismissal without notice. If any one of the following conditions
occurs, the Company can at any time dismiss an employee without
notice:
(a) Serious violation of company rules and
regulations;
(b) Serious dereliction of duty or
practices graft, causing significant harm to the interests of the
company;
(c) Be held criminally
responsible.
5.2 Dismissal after notice. Any of the following circumstances,
the Company can make written notice of 30 days prior dismissal of
employee:
(a) Employee
with non-occupational diseases or non-work related injury, medical treatment
period expires, and still cannot perform the original work, and cannot perform
other works arranged by the Company;
(b) Employee cannot reach an appropriate
level of performance, even after training or work;
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(c) The circumstances at the conclusion of
the contract have changed significantly, resulting in inability to perform the
contract, even though The Company in consultation with the
employee;
(d) In order to avoid bankruptcy of the
Company, or because of serious difficulties in operations, management needs to
cut staff, after consultation with the staff union or employee provided that it
is compliance with other relevant law;
(e) Relevant laws or regulations in other
circumstances.
If the
employee's dismissal is based on the above (a), (b) or (c) any circumstances
referred to, the Company may elect to pay an additional month's wages of
employee to replace its 30-day advance written notice sent
obligations.
5.3 Compensation.
If the Company pursuant to Article 5.2 of the dismissal of employee, the Company
in accordance with relevant laws and regulations shall pay economic compensation
to employee.
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6.
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TERMINATE
THE CONTRACT BY EMPLOYEE
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6.1 Resigned after
notification. Employee can
terminate the employment relationship by giving thirty (30) days written notice
to the Company. If the employee resigns by this method, the Company has no
obligation to any financial compensation paid to employee. If the employee fails
to under Article 6.1 to give at least thirty (30) days written notice to the
Company for his termination of employment relationship, the Company should be
compensated by the employee. The compensation should be based on daily wages for
employee and the number of days of the notice should be made
to.
6.2 Resignation without notice. Notwithstanding the provisions of
Article 6.1, an employee can at any time terminate the contract without notice
to the resignation of the Company:
(a) Company does not provide a safe working
environment;
(b) Company under this contract is not
timely, full payment of remuneration or provides working
conditions;
(c) Company violates laws and
administrative regulations, violation of employee benefits;
(d) Applicable laws or regulations in other
circumstances.
6.3 Financial compensation. If an employee resigns pursuant to
section 6.2, the Company shall pay economic compensation to employee in
according to the relevant legal provisions.
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7.
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OBLIGATIONS
AFTER TERMINATION OF THE CONTRACT
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7.1 Return of property. Employee agrees that employee whose
employment is provided during the period, or created or produced by employee of
all property (including, without limitation, all equipment, tangible proprietary
information, documents, records, records, contracts and computer-generated
materials) are the property of Company, and should be returned to the Company
immediately when the contract is terminated.
7.2 Resign.
After the termination of the employment relationship, employee shall cooperate
with the Company for its work of finishing appropriate works and orderly
transfer of work to other employee.
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8.
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PRIVACY
POLICY
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8.1 Confidential information. Employee represents, warrants and
undertakes that, without prior written consent by the Company, employee shall
not disclose to any third parties or use for purposes other than performing
their duties employee any intellectual property rights, management and business
model, customers, vendors, employee and other sources as well as the
relationship between the entities any information (hereinafter referred to as
"Confidential Information") from which the employee acquires during his
employment period.
8.2 Competition.
Employee agrees that before or at the termination of contract, Company can
choose to complete Appendix A (the appendix is an integral part of this
contract). The provisions of Appendix A will need to follow the non-competition
obligations of employee time ("non-compete period ') and the company will pay to
the employee, a certain percentage of the employee basic salary compensation ("
non-compete compensation "). specified in Appendix A. "Non-compete period" and
"non-compete amount" is final, decisive. Employee understand if the Company
decided not to complete Appendix A, the employee do not have to follow
non-competition obligations after the end of employment and the employee also
will not get compensation.
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9.
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APPLICABLE
LAW AND DISPUTE RESOLUTION
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9.1 Applicable law. This contract, the implementation and
interpretation and dispute settlement should apply the laws of
China.
9.2 Dispute Resolution. Both sides should resolve the labor
dispute in accordance with the following procedures:
(a) The two sides should first resolve any
dispute that occurs during the performance of this contract through negotiation
and mediation.
(b) If
the negotiation and mediation is unsuccessful, both parties should go to the
company’s local labor dispute arbitration committee for arbitration; either
party refuses to accept the ruling of labor dispute arbitration committee, both
parties should go to the people's court according to law.
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10.
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OTHER
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10.1 Amendments. Without the signed writing by the
authorized representatives of employee and the Company, there should not be any
amendment or changes to this contract. Failure to exercise any right under the
contract does not constitute a waiver of that right.
10.2 Notice. Under this contract, any notice must
be made in writing to the appropriate address, listed on the first page of this
contract, of employee and the Company. Notice under this Agreement shall be in
effect under the following circumstances: (a) when delivered by hand and to be
served personally; (b) When delivery by overnight delivery or registered mail,
the time of receipt of a written receipt; or (c) when sent by e-mail or fax,
when confirmation of receipt of electronic transmission. The employee has
obligation to notice in writing of any change of its address. Notice of change
of address is valid only to be served in accordance with the above
circumstances.
10.3 Complete the contract. The contract is the subject of the
contract the two sides reached the final, complete and exclusive contract, and
replaces, and merge the two sides before or at the same time the subject of this
contract the reach of all oral or written statements, negotiations, proposals,
negotiations , conditions, communications and conventions, and habits of all
previous transactions, and industry practice.
10.4 Contract. Two (2) original contract is signed,
each party hold an original.
(No text
below.)
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(No text
in this page, signature page of this contract.)
IN WITNESS WHEREOF, the parties hereto
the date first above stated signed this contract.
Company:
Daqing Qing Ke Long Chain Commerce Co., Ltd. (Seal)
Authorized
Representative: Zhuangyi Wang
Title: CEO
/s/
Zhuangyi Wang
Employee:
Tsz-Kit Chan
Signature: /s/
Tsz-Kit Chan
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Appendix
A
Post-termination
non-competition clause
Employee
acknowledges that the Company and its users, customers, vendors, employee and
other entities is the Company valuable business asset, if an employee after
termination with the Company competes directly with the Company, it will likely
lead to proprietary information from unauthorized use or disclosure or cause the
Company to its users, customers, vendors, employee and other entities, the
relationship between the interference and unauthorized use or disclosure that is
difficult to be identified or confirmed. Therefore, the employee agrees to the
following non-competition period alone or with others not engaged in business
the same, similar or competing business, and not with the company's business the
same, similar or competing company office.
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Non-competition
period (up to 24 months):
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_______
Month
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Basic
wage = average of the last 12 months of basic wage:
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_______
RMB
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Prohibition
of non-competition compensation ratio:
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_______
%
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Month
non-competition compensation =
Basic
salary x proportion of non-competition compensation:
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_______RMB
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Daqing
Qing Ke Long Chain Commerce Co., Ltd.
Signature
of Authorized Representative：
Title:
Date:
Employee
Name:
Signature:
Date:
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