Employment Agreement
Party
A:
Zhongpin Inc.
Party
B
(signature): Wang Feng
Signing
Spot: /s/ Wang Feng
Signing
Date: 2008-11-18
Whereas
Party B’s probation term from Aug 18th,
2008 to
Nov 18th,
2008
expires and his eligibility within probation term, under the principle of
equality, freewill, mutual trust and friendly consultations, both Party A and
Party B agree to reach the following agreement, according to the related laws
and regulations in China.
Item
One The
agreement’s term is 3 years, starting from Aug, 18th,
2008 to
Aug, 18th,
2011.
Item
Two Working
Scope
Party
B
shall be hired as company’s Vice President, Chief Financial Officer and
Financial Controller according to Party A’s operational demand. Party B shall
complete tasks that he should be charged of based on his working responsibility.
During the agreement term, Party A owns the right to adjust Party B’s working
responsibilities in accordance to its requirement.
Item
Three Working
Condition
Party
A
shall endow Party B with a corresponding authority to fulfill tasks. Within
working period, Party B has the right to access training programs, participate
management, earn honor and material incentives. Party B shall comply with all
rules and stipulations of Party A, and shall be responsible for assigned
property by Party A.
Item
Four
Compensation
The
compensation standard according to both Parties’ negotiation: $120,000 per year
(exchange rate 1: 6.8), whereas individual income tax shall be responsible
by
Party B. Option grants shall be negotiated by both Parties in another agreement.
Compensation payment shall be executed on the basis of “Salary Management System
for Staff” and “Performance Management System for Staff”
Item
Five Confidential
Agreement
Party
B
shall take confidential liability and obligation within his working term and
after resignation. Specific requirement shall be referred to “Stipulations on
Strengthen Company’s Commercial Secret Protection” in accordance with “Code of
Business Conduct and Ethics”.
Item
Six Modifications,
revocation and termination of agreement shall be executed according to relevant
laws and regulations. Within agreements term, in the event that Party B asks
for
resignation, Party B shall notify Party A at least 3 months in
advance.
Item
Seven With
the
expiration of the agreement, the Agreement can be extend with the consent of
both Parties.
Item
Eight
This
agreement shall be effective with both Parties’ signatures or seals attached
hereunder.
Item
Nine
This
agreement is in duplicate, Party A and Party B shall keep one for
each.
Party
A:
Zhongpin Inc.
Adress:
00 Xxxxxxxx Xxxx,
Xxxxxxx
Xxxx, Xxxxx Province
Representative’s
Signature of Party A: /s/ Xxxxxx Xxx
Party
B
(signature): /s/ Wang Feng
ID
No.:
Agreement
Date: Nov 18th,
2008
