EXECUTIVE EMPLOYMENT AGREEMENT
Exhibit
10.1
This
EXECUTIVE EMPLOYMENT AGREEMENT, dated effective as of December 11, 2008
(the “ Effective
Date ”) is between China Water Group Inc, a Nevada corporation (the
“ Company
”), and Wenge Fang (“ Executive
”).
AGREEMENTS
1.
Employment
The
Company will employ Executive and Executive will accept employment by the
Company as Chief Executive Officer. Executive shall report to the chairman
of the board (“ Chairman ”), and shall
have such responsibilities assigned, from time to time, by the chairman, which
relate to the business of the Company, or any business ventures in which the
Company may participate.
2.
Attention and Effort
Executive
shall devote his entire productive time, ability, attention and effort to the
Company’s business and shall skillfully serve its interests during the term of
this Agreement.
3.
Term
Unless
earlier terminated with appropriate notice of termination, the initial term of
this Agreement shall be from the date hereof until December 31, 2009; provided , however , that,
unless terminated with appropriate notice, on each January 1 following the
date of this Agreement, beginning with January 1, 2010, this Agreement
shall be automatically renewed for successive one-year terms.
4.
Compensation
During
the term of this Agreement, the Company shall pay or cause to be paid to
Executive, and Executive shall accept in exchange for the services rendered
hereunder by him, an annual base salary of US$60,000 before all customary
payroll deductions (the “ Base Salary ”). The
Base Salary shall be paid to Executive in substantially equal installments at
the same intervals as other executive of the Company are paid. At the end of
each year of employment (or sooner if determined by the Board), Executive’s Base
Salary shall be reviewed by the Chairman in its sole discretion.
Executive’s
eligibility for a performance bonus shall be based on the overall performance of
the Company. The actual amount of any bonus payable to Executive shall be
determined by the Chairman.
5.
Termination
The
Company may terminate the employment of Executive upon giving a written notice
of termination (“Notice of Termination”), which notice shall be effective thirty
(30) days later. This Agreement shall terminate upon the effective date
specified in such Notice of Termination.
Executive
may terminate this Agreement upon thirty (30) days’ prior written notice in
the form of a Notice of Termination, and this Agreement shall terminate upon the
effective date specified in such Notice of Termination. Notwithstanding the
preceding sentence, the Company shall have the right to accelerate Executive’s
termination of employment to be effective on the date that the Notice of
Termination is received by the Company, or any date of the Company’s choosing
between that date and the effective date specified in the Notice of
Termination.
This
Agreement and Executive’s employment shall terminate automatically upon
Executive’s death or Executive’s inability, for any reason, to perform his
duties with the Company for 120 days in any twelve (12) month
period.
Notwithstanding
any termination or expiration of this Agreement, the Company shall remain liable
for any rights or payments arising prior to such event to which Executive is
entitled under this Agreement.
6.
Miscellaneous
This
Agreement may not be amended except by written agreement between Executive and
the Chairman.
All
payments and benefits to which Executive is entitled under this Agreement shall
be made and provided without offset, deduction or mitigation on account of
income Executive could or may receive from other employment or
otherwise.
This
Agreement shall be governed by and construed in accordance with the laws of the
Republic of China applicable to contracts made and to be performed
there.
The
Company and Executive have executed this Agreement at Guangzhou as of the
Effective Date.
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China
Water Group Inc.
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By:
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/s/ Xxxxx Xxxxx Pu
_________
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Xxxxx
Xxxxx Pu
Chairman
of the board
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EXECUTIVE
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By:
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/s/ Wenge Fang
_________
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