EXHIBIT 10.7
Cooperation Agreement
Party A: Beijing DaHua Real Estate Development Ltd.
Party B: Beijing Guohong Dahua Economy Research Center
In consideration of the mutual promises of the parties hereto, the parties
hereby agree as follows:
1. Party B hereby dispatches Yonglin Du, Changan Song, Xxxxx Xxxx, Xxx
Xxxx, Xxxxxxxxx Xxxx, Bing He, Xxxxxxx Xxxx, Yunbao Xxxxx, Xxxxx Xxx,
Xxx Xxx, Xxxxxx Xxxx, Qinghuan He and etc. totally 12 employees, to
work on the projects for Party A, the DaHua Real Estate Development,
Ltd. The work period is two years.
During this work period, the personnel dispatched shall
unconditionally accept the operational management and work allocation
of Party A, abide by the rules and regulations of Party A, keep the
business secrets of Party A, and fulfill the tasks assigned by
Party A.
2. Party A shall pay Party B service fee every year, in the total amount
of 1,200,000 RMB. The service fee including Party B administration
fee, training fee and personnel salary expense, shall be paid by Party
A to Party B all together.
The specific expense standards are as follows: Senior Technical
Personnel Xxxxxxx Xxxx, Xxxxxxxxx Xxxx, Bing He, shall be under the
expense standard of 18,000 RMB every month per person; Senior
Financial Personnel Changan Song, Xxxxx Xxxx, Xxx Xxxx, shall be under
the expense standard of 10,500 RMB every month per person; ordinary
personnel Yunbao Xxxxx, Xxxxx Xxx, Xxx Xxx, Xxxxxx Xxxx, Qinghuan He,
shall be under the expense standard of 5,000 RMB every month per
person.
Party B shall directly pay salary, allowance and subsidizes to
dispatched personnel, and be responsible for their old-age insurance,
unemployment insurance, medical insurance and public accumulation fund
for housing construction and other welfares.
3. During this period, Party A shall have right to dismiss the dispatched
personnel and ascertain the economic responsibilities of Party B, if
the dispatched personnel cause any losses for Party A due to their
disobedience to operational management and work allocation or their
disclosure of any business secrets of Party A. Party A shall be
responsible for personal accidences of dispatched personnel for the
sake of Party A.
4. This Agreement shall validate from July 1st, 2003 to June 30th, 2004.
5. This Agreement may be supplemented by negotiation by both Parties.
6. This Agreement shall be signed in duplicate. One for each Party. Each
counterpart is legally of equal effect.
IN WITNESS WHEREOF, the Parties, intending to be legally bound by the terms
of this Agreement, have caused this Agreement to be executed as of the Effective
Date hereof.
Party A: BEIJING DAHUA REAL ESTATE DEVELOPMENT LTD.
By: /s/ Corporate Official Seal of Beijing Dahua Real Estate
Development Ltd.
________________________________________________________________
Party B: BEIJING GUOHONG DAHUA ECONOMY RESEARCH CENTER
By: /s/ Corporate Official Seal of Beijing Guohong Dahua Economic
Research Center
________________________________________________________________
June 18th, 2003
