EXHIBIT 10.25
GENESIS
TECHNOLOGY GROUP
EMPLOYMENT AGREEMENT FOR XX. XX SHAOQING
Job Title: Chief Executive Officer of Genesis Technology Group's China
Operations (abbreviated as "CEO China").
Location: Headquartered in Shanghai, China.
Starting Date: October 1, 2004
The Company: Genesis Technology Group, Inc. (also referred to as "Genesis China"
and abbreviated as "GTEC") is a business development firm that fosters bilateral
commerce between companies in the West with those, in China. Genesis has'
created successful profit centers in product development. manufacturing,
distribution, joint ventures and operational services. The Company has fully
staffed offices in the United States, Germany, and China. Genesis has
established effective working relationships with various governmental agencies,
public institutions, and private industries in China. In addition, the company
acquires and invests in innovative technology companies in China or forms joint
ventures with both American and elite Chinese companies, focusing on emerging
technology industries including, but not limited to, computer hardware and
software, nanotechnology, biotech, wireless telecommunication, information
systems, environmental protection and biomedicine technologies. For more
information, visit xxx.xxxxxxx-xxxxx.xxx
Responsibilities: By reporting to the Board of Directors and the GTEC CEO, the
responsibilities of this position would include the following:
1) Overseeing the operations of the Chinese enterprises, including - but not
limited to - Genesis Shanghai (in the process of being registered), Yastock,
Yastand, Chorry and future initiatives in China. In addition, GTEC's 30%
ownership in the CIIC joint venture shall be under the direction of the CEO
China.
2) Overseeing the financial operations of each Chinese enterprise, with the
designated financial staff-bookkeeper, controller, certified public
accountant and/or chief financial officer-reporting to the CEO China.
3) Overseeing the recruiting and retaining of staff and other HR functions in
all China operations.
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GENESIS
TECHNOLOGY GROUP
4) Securing investments and opportunities for GTEC and its China operations.
5) Representing the Company at public functions and in media interviews.
6) Committing 100% of his time and effort to the success of GTEC, Xx. Xx shall
refrain from any activities that would be considered a conflict of interest
to GTEC business interests.
Remuneration:
(1) 1.5 million (1,500,000) 144 common shares of Genesis Technology Group
stock (OTCBB: GTEC) delivered as follows: (a) one million (1,000,000)
shares on or about October 1, 2004, and (b) five hundred thousand
(500,000) shares after six (6) months of Xx. Xx Shaoqing's serving as
the CEO of China operations. These shares, and any other 144 shares
granted, shall become free trading exactly one year after the issuance
date.
(2) Salary of Four Thousand Dollars ($4,000.00) per month, payable by the
fifth of each month starting in November 2004 and for a period of one
(1) year.
(3) Participation in the Management Options Program, whereby Xx. Xx receives
the same number of GTEC options and under the same conditions as other
members of management. This program is still being formulated.
(4) An annual bonus of five percent (5%) of the net profit generated by
Genesis's China operations. This bonus shall be paid to Xx. Xx in
free-trading GTEC stock or cash, as determined by GTEC.
AGREED TO AND APPROVED BY:
/s/ Li Shaoqing September 28, 2004
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Li Shaoqing, Chief Executive Officer of GTEC's China Operations
/s/ Xxxx X. Xxxxxxx September 28, 2004
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Xxxx X. Xxxxxxx, Chief Executive Officer of Genesis Technology Group, Inc.
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