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Title: |
Employment Agreement |
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Entities: |
Intra Asia Entertainment Corp |
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Date: |
2007 |
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Size: |
37KB total |
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Price: |
$42 |
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ID: |
#3211717 |
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Start of
Preview |
EMPLOYMENT AGREEMENT
This Agreement is made effective as of the 1st day of January, 2008 (the ?Effective Date?), by and between China TransInfo Technology Corp., a Nevada corporation, (the ?Company?), and Zhihai Mao, an individual (the ?Employee?).
WHEREAS, the Company has made an offer of employment to the Employee, and the Employee has accepted such offer of employment on the terms and conditions set forth herein; and
WHEREAS, Employee shall commence his employment with the Company on or about January 1, 2008, or at another mutually agreeable date; and
WHEREAS, the parties hereto each recognize that, in the course of the Employee?s employment, the Employee has had and will have access to certain information that is confidential and proprietary to the Company, the disclosure of which would cause severe detriment to the Company and/or its affiliates; and
WHEREAS, the parties desire to fix their respective rights and responsibilities as set forth in this Agreement.
NOW, THEREFORE, in consideration of the premises and the mutual covenants, terms and conditions hereinafter set forth, and for other good and valuable consideration receipt of which is specifically acknowledged, the parties hereto hereby agree as follows:
Section 1. EMPLOYMENT
The Company hereby employs the Employee, and the Employee hereby accepts employment, as Chief Financial Officer of the Company.
Section 2. THE EMPLOYEE?S DUTIES
a. The Employee hereby agrees to perform his duties faithfully and honestly on behalf of the Company and its affiliates and subsidiaries, including but not limited to Beijing PKU Chinafront High Technology Co. Ltd., and use his reasonable good faith efforts and ability on behalf of the Company to perform the duties of the Employee?s position and perform such duties and services as shall be specified and designated from time to time by the Chief Executive Officer. In performance of his duties, Employee shall report to the Chief Executive Officer.
b. The Employee?s duties shall include, without limitation, those customarily associated with the position of Chief Financial Officer of a software company.
c. The Employee agrees that he shall, during the term of this Agreement, faithfully serve the Company as a full-time employee and devote his business time, attention and ability to his duties and responsibilities hereunder; provided, however, that nothing contained herein shall be construed to prohibit or restrict the Employee from serving in various capacities in community, civic, religious or charitable organizations or trade associations or leagues; or attending to passive personal business or investment matters; provided that no such service or activity permitted in this Section 2(c) shall individually or in the aggregate, either materially interfere with the performance by the Employee of his duties hereunder or give rise to any conflict of interest or the appearance of a conflict of interest with either the Company or any of its subsidiaries or affiliates.
d. The Employee agrees to enter into the Employment Confidentiality and Inventions Agreement, a copy of which is attached as Exhibit 1 (the ?Confidentiality and Inventions Agreement?).
e. The Employee agrees to observe and comply with all applicable domestic (federal, state, and local) and international laws. The Employee also agrees to comply with all lawful rules, regulations, policies and practices adopted by the Company and made generally applicable to all of the Company?s employees (or applicable to similarly situated employees), either orally or in writing, both as they now exist and as they may be duly adopted or modified from time to time, provided that in the event of a conflict between this Agreement or its attachments and such rules, regulations, policies, or practices, this Agreement shall govern and supersede the same.
Section 3. COMPENSATION AND BENEFITS
In consideration for all services rendered by the Employee to the Company and as consideration for the restrictive covenants referred to in Section 7 hereof, Company hereby agrees to pay compensation to the Employee as follows:
a. During the term of this Agreement, commencing on the Effective Date, the Company shall pay to the Employee, in accordance with the normal payroll practices of the Company, a base salary (?Base Salary?) of seven hundred and fifty thousand Chinese Yuan (RMB 750,000.00) per annum. The Company shall make deductions and withholding from the amount payable to Employee as may be required by applicable international, federal, state or local laws.
b. In addition to the foregoing, on or about January 1, 2008, Employee will be granted nonstatutory stock options for the purchase of 200,000 shares of common stock (the ?Shares?). The option?s exercise price will be equal to the fair market value of the Company?s common stock on the date of grant. The options shall vest in equal installments on a quarterly basis over a three-year period beginning on the grant date. The stock option grant shall be evidenced by a stock option agreement (the ?Stock Option Agreement?) and the stock options will be subject to the terms and conditions of such Stock Option Agreement.
c. Employee is also eligible to participate in the Company?s executive bonus program pursuant to which bonuses are granted at the sole discretion of the Company?s Board of Directors, or, if applicable, a compensation committee established by the Board of Directors. Bonuses are not earned until the date they are paid and Employee must be an employee of the Company on the day bonuses are issued to receive any bonus.
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