Exhibit 10.23
EMPLOYMENT CONTRACT
An agreement made the 1st day of January 2009 between B2B Chips, Ltd. of Xxxx X,
00xx Xxxxx, Xxxx Xxxxx, 0 San Xx Xxxxxx, Xxxx Xxx, Xxx Xxxxxxxxxxx, Xxxx Xxxx
(hereinafter called "the Employer" which expression shall where the content so
admits include his servants and agents)
and Li De Hai, Chinese ID No. 000000000000000000 of Hai Xia Ge 14G, Hai Xxx
Xxxxx, Xxx Xxxx, Xxxxxxxx, XXX 000000 having his place of origin at the same
address (hereinafter called "the Employee"), witnesseth as follows.
1. The Employee shall be employed by the Employer for twelve (12) months
commencing from the date first written above.
2. The Employee agrees to proceed to Xxxx X, 00xx Xxxxx, Xxxx Xxxxx, 0 San Xx
Xxxxxx, Xxxx Xxx, Xxx Xxxxxxxxxxx, Xxxx Xxxx (hereinafter called "the place of
employment") as and when directed by the Employer and undertakes to work
diligently and faithfully as Chief Financial Officer for the term of his
engagement set out in Clause 1 of this Contract and to act in all respects
according to the reasonable instructions and directions given to him by the
Employer.
3. The Employee shall perform the normal duties for which he has been engaged
under Clause 2.
4. (a) The Employee shall receive wages at a rate of not less than US$12,000 per
month.
(b) Wages shall be paid by the Employer every month on the 5th day of the
following month by wire transfer.
(c) The Company shall be responsible for the payment of income tax.
(d) Other conditions (please specify): .........................................
................................................
5. (a) In the event of the death of or injury to, or incapacity due to
occupational disease, of the Employee arising out of and in the course of
employment, the Employer shall:
(i) defray the expenses necessarily incurred by the Employee on account of
medical treatment, including maintenance in hospital, while he is incapacitated;
(ii) pay or arrange with the appropriate authority for payment of compensation
in accordance with the law of the place of employment or, if no law on
compensation exists, himself pay compensation not less favourable than that laid
down in the Employees' Compensation Ordinance (Cap. 282), the Laws of Hong Kong;
(iii) be responsible for all expenses incurred whenever the Employee is required
to undergo a medical assessment for the purpose of employees' compensation.
(b) When the Employee is ill or suffers from an accident not attributable to his
employment, the Employer shall provide free medical attention and maintenance in
hospital to the Employee while he is incapacitated. Full wages shall be paid for
three months of incapacity and thereafter half wages shall be paid for nine
months. After this period the Employer shall continue to provide free medical
attention and maintenance in hospital until the Employee has recovered or a
medical certificate has been obtained as prescribed in Clause 5(c).
(c) In the event of a medical practitioner certifying that in his opinion the
Employee is unfit for further service with the Employer, the Employer shall
provide free maintenance in hospital or an adequate maintenance allowance prior
to repatriation, and free return passage, airport tax, travel and subsistence
expenses, free accommodation and other benefits for the Employee to Hong Kong
or, at the Employee's request, to his place of origin if such place is nearer to
the place of employment in accordance with Clause 2 of the Contract.
(d) Provided that in any place where medical attention, hospitalisation, cash
payments in the event of accident or occupational disease arising out of and in
the course of employment are provided under a scheme of state insurance or
otherwise free of charge, the Employer shall not be so liable; and provided
further that in any place where free medical attention and hospitalisation are
available to an employee when ill or suffering from an accident not attributable
to employment or payment of cash benefits to employees who are incapacitated by
illness are provided by the state or by a system of national insurance, the
Employer shall not be liable except insofar as the benefits paid may be less
than the amounts set out in paragraph (b) of this clause.
6. (a) In the event of the Employer wishing to terminate this Contract, he shall
give one month's notice or one month's wages in lieu thereof.
(b) The Employee shall be repatriated within 3 months at the Employer's expense
in circumstances where:-
(i) the Employee gives the Employer one month's notice of his decision to
terminate this Contract, or gives the Employer one month's wages in lieu of
notice; or
(ii) the Employer has breached a term, express or implied, of this Contract and
the Employee has chosen to terminate the Contract as a consequence of the
breach.
(c) The Employer reserves the right to dismiss summarily the Employee for gross
misconduct. In such a case the Employee shall retain the right to be repatriated
within 3 months at the Employer's expense from the day of dismissal.
Should the Employee be dismissed under this paragraph, the Employer shall
immediately inform an official responsible for matters pertaining to employment
in the place of employment.
(d) Where this Contract has been terminated in accordance with paragraph (a),
(b) or (c) above, the Employer shall provide the Employee with wages, free
return passage, airport tax, travel and subsistence expenses, free accommodation
and other benefits for the Employee to Hong Kong or at the Employee's request to
his place of origin if such place is nearer to his place of work in accordance
with Clause 9 of the Contract.
7. (a) Should the Employer and the Employee wish to extend the period of
employment after the expiry of this Contract, they may do so by entering into a
re-engagement contract.
(b) The re-engagement contract shall require attestation by the Commissioner for
Labour, Hong Kong. Before attesting any re-engagement contract the Commissioner
for Labour shall be satisfied that the Employee has had the opportunity of being
repatriated.
8. Any variation or addition to the terms of this Contract during its duration
shall be made only with the consent of an official responsible for matters
pertaining to employment in the place of employment.
9. (a) The Employee during the performance of this Contract shall be subject to
the law of the place of employment.
(b) Where the law or the relevant collective agreement in force in the place of
employment provides more favourable benefits to the Employee than those
specified in this Contract, the Employee shall be entitled to such benefits as
are enjoyed by the employees in comparable employment in that place.
10. (a) If the Employee shall be in any way dissatisfied with the manner in
which the Employer observes the terms of this Contract he shall make before he
leaves the place of employment a complaint to an official responsible for
matters pertaining to employment in the place of employment. If he fails to do
so he shall not be entitled to maintain legal proceedings for breach of a term,
condition or warranty of this Contract against the Employer in Hong Kong unless
he can show that his failure to make a complaint in the place of employment was
not due to his own act or default or that the complaint arose subsequent to his
leaving the place of employment.
(b) In the event of any dispute between the parties arising out of this Contract
both parties hereto agree to submit to the jurisdiction of the courts of Hong
Kong and the proper law of this Contract shall, save for Clause 9(b), be the
laws of Hong Kong.
11. In this Contract, unless the contrary intention appears, words importing the
masculine gender shall include the feminine and the neuter genders and words
importing the singular number shall include the plural number and vice versa.
12. The Employer and the Employee hereby agree that this is the only valid and
enforceable contract of employment between them.
In witness whereof the said parties to these presents have hereunto set their
hands the day and year first above written.
SIGNED by the Employer...../s/ Xxxxx X. Xxxxxxx...........................
in the presence of........./s/ Xxxxxx Xxxxxx..............................
(Name of Witness) (Signature of Witness)
SIGNED by the Employee...../s/ Li De Hai..................................
in the presence of........./s/ Lei Xia..........................
(Name of Witness) (Signature of Witness)
