Common use of Duties of the General Manager Clause in Contracts

Duties of the General Manager. The General Manager shall be responsible for ------------------------------ the overall management of the Company. The General Manager shall report to the Board, and his duties shall include the following: 9.2.1 preparation of annual operating and capital budgets, business plans and financial projections for Board approval; 9.2.2 implementing budgets and plans approved by the Board; 9.2.3 maintaining an accounting system and a system of financial, budgetary and internal controls designed by any one of the International and Chinese Joint Venture Accounting firms licensed to practice accounting in China and such Accounting Firm shall be approved by the Board; 9.2.4 maintaining accounting ledgers, books and records in accordance with internationally accepted accounting principles and standards and regulations; 9.2.5 payroll administration; 9.2.6 labour relations and personnel administration; 9.2.7 supervising and administering all exploration, mining, processing and marketing operations; 9.2.8 implementing a system of security designed by experts in the security field in respect of the Company's diamonds, precious gems and other assets that is in accordance with good international standards and that is satisfactory to the Board; 9.2.9 doing all other things necessary or advisable to ensure that the business of the Company and is carried out in accordance with this Contract.

Duties of the General Manager. The General Manager shall be responsible ------------------------------ for ------------------------------ the overall management of the Company. The General Manager shall report to the Board, and his duties shall include the following: 9.2.1 preparation of annual operating and capital budgets, business plans and financial projections for Board approval; 9.2.2 implementing budgets and plans approved by the Board; 9.2.3 maintaining an accounting system and a system of financial, budgetary and internal controls designed by any one of the International and five (5) largest Chinese Joint Venture Accounting registered accounting firms licensed to practice accounting in China and such Accounting Firm shall be approved selected by the Board; 9.2.4 maintaining accounting ledgers, books and records in accordance with internationally accepted accounting principles and standards and regulations; 9.2.5 payroll administration; 9.2.6 labour relations and personnel administration; 9.2.7 supervising and administering all exploration, mining, processing and marketing operations; 9.2.8 implementing a system of security designed by experts in the security field in respect of the Company's diamonds, precious gems and other assets that is in accordance with good international standards and that is satisfactory to the Board; 9.2.9 generally, doing all other things necessary or advisable to ensure that the business of the Company and is carried out in accordance with this Contract.