Exhibit 10.43
Employment Agreement of the General Manager
Party A: Shandong Bangsheng Chemical Co., Ltd
Party B: Xx Xxxxxx
-----------
Party A: Shandong Bangsheng Chemical Co., Ltd
Party B: Xx Xxxxxx
-----------
-------------------- ----------- ----------- --------- ------- -----------------
Name Xx Xxxxxx Sex Male Date December 8, 1959
of
Birth
-------------------- ----------- ----------- --------- ------- -----------------
Education Associate Health Healthy Tel
Degree Condition
-------------------- ----------- ----------- --------- -------- ----------------
Professional Title Senior ID Number 370920591208007
Engineer
-------------------- ----------- ----------- -----------------------------------
Strong Points An Expert on Chemical Engineering
-------------------- -----------------------------------------------------------
Native Place Lodging House in Xintai City Fertilizer Plant,
Shandong Province
-------------------- -----------------------------------------------------------
According to the employer-and-employee-choice principle, Party A is willing to
offer Party B the position of General Manager, and Party B is willing to accept
such a position and will do a good job in the management of the production and
operation of the Chemical Company. After negotiation, the two parties have
reached the following provisions for the two parties to implement:
I. The parties agree that the term of this agreement shall be three years,
commencing from this _first_ day of __January, 2005 and ending on the
_first_ day of _January_, 2008.
II. Remuneration
The main indicator for performance evaluation of Party B conducted by Party A is
the profit realized in a year.
(1) The basic annual salary of Party B is RMB 160,000 yuan (One hundred and
sixty thousand yuan). The performance evaluation will be based on "The
Responsibility Contract of Management Objectives". If the operating profit
target has been realized by 100% and there is no major safety accident, Party B
is entitled to be given the basic annual salary. Starting from 100%, one added
or reduced percentage will be taken into account in paying Party B the salary
which will be computed in this way: Party B's salary = Basic Annual Salary
iA(1iA1%)
(2) 70% of Party B's salary will be paid along with the salaries of other
employees, and the remaining 30% will be paid off as a single payment at the end
of each year after the Financial Department of Party A has finished the
performance evaluation of Party B and the payment will be based on the result of
performance evaluation.
(3) Party B can only get the salary after the amount has been approved by the
legal representative of Party A with his or her signature. III. The
Responsibilities, Powers and Salary of Party B
Responsibilities: Party B is authorized by Party A to, in accordance with the
extent of power and the managerial system of this company, do a good job in the
management of production and operation.
Obligations:
1. Party B shall unconditionally and consciously abide by the managerial
system of Party A.
2. To take the full responsibility of the management of production and
operation of this company; to strengthen the internal management of the
company; to optimize the process flows; to effectively reduce the
production costs; to ensure work safety; to guarantee the quality of
products; to make sure that the up-to-standard rate of product quality
shall be 100%. If, some goods are returned or the payment for goods is
withheld, due to quality problems, Party B shall assume all
responsibilities for all losses arising from it (Party B has the rights to
hold production personnel to their responsibilities, but it will not
affect the responsibility of bearing the losses); to maximize the profit
of the enterprise.
3. Party B is responsible for the management of production and operation and
the instruction and management of the working personnel; to carry forward
the corporate culture; to strengthen the business training of employees;
to improve the quality of employees in an all around way; to cultivate a
batch of managerial talents having both ability and moral integrity, and
make a powerful team come into being.
4. To xxxxxx a good team spirit; to unite and be friendly to the comrades in
the team and employees; Party B shall be responsible for the performance
evaluation of the middle-level cadres and employees within his managerial
department; to quantize the task of each job and economic indicators, and
conduct the evaluation at least once a month, and publicize the result of
evaluation and the whole process should be transparent, and the
distribution should be based on the result of performance evaluation,
rewards and punishment should be clearly defined and implemented; to
strictly enforce the managerial system; to be resolute when firmness is
needed; to be free from partiality; to treat everyone equally without
discrimination; to be modest in accepting criticisms and conducting
self-criticisms.
5. During the term of the engagement, Party B shall do his best to make the
production line be fully operated, and ensure that the annual output of
synthetic ammonia will be 150,000 tons, and the output of methanol will be
30,000 tons. Except this company adjusts the product mix in line with the
market demand, the output can be appropriately increased or reduced.
6. During the service period, Party B shall strengthen the quality control
management to ensure the up-to-standard rate of product quality shall
reach 100%.
7. During the service period, Party B should attach great importance to work
safety, and break down the safety responsibility, and strengthen the
safety patrol and eliminate hidden risks of accident so as to make sure
work safety and there is no major safety accident and the rate of
incidence of wound and skin cuts will be below 5/oo.
8. Indicator of costs: The indicator of costs is a major indicator in the
performance evaluation of Party B. When the price of raw materials
fluctuates beyond the limit of 3%, Party A and Party B shall negotiate and
adjust the indicator of costs.
IV. Safety
1. During the term of engagement, Party B is the person directly
responsible for safety in production and has direct responsibility
for safety in production. Party B is supposed to have meetings on
safety on a regular basis, train the employees on safety on a
regularly basis and strengthen safety education so as to guarantee
this company free from safety accidents.
2. If there are no safety accidents in a whole year, Party B will be
given a safety reward amounting to yuan. If safety accidents should
happen, Party B would be held responsible for the economic
responsibilities and legal responsibilities.
3. During the period of production, production will be conducted in
strict accordance with the safety standards set by the Ministry of
Chemical Industry and state safety inspection departments; employees
should be educated on work safety; employees who have not been
trained on work safety should not be put in any post. If safety
accidents should happen, Party B would be held responsible.
4. During the period of equipment repair and maintenance, the operating
rules shall be strictly followed, and rules of making fire shall be
followed and safety accidents would be avoided at any cost.
V. Responsibilities and Obligations of the Two Parties
1. During the term of engagement of Party B, the salary shall be cashed
in according to the result of performance evaluation at the end of
year; Party A shall not deduct Party B's salary without good reason.
2. Party B shall, as much as possible, provide convenient conditions
for Party B's work.
3. During the term of engagement, Party B shall not accept any work
offered by any other party; otherwise, Party B's salary would be
deducted and both Party B and the third party would be held
responsible for legal liabilities.
4. During the term of engagement, should Party B suffer from personal
injuries or death while being on duty, and the cause is determined,
the matter will be handled in accordance with relevant stipulations
in the Labor Law. If any dispute arises, it will be submitted to the
court for settlement.
5. Party B should take the lead to consciously abide by all rules and
regulations of Party A.
6. Attendance: The system of check on work attendance shall be applied
to Party B and Party B should abide by the work discipline of this
company, and Party B's monthly working days will be 27.
7. The communication fee will be examined and reimbursed according to
the limit set for each month.
8. Principle of confidentiality: The provisions in the Confidentiality
Agreement will be observed by both parties.
9. Party B should be held responsible for all economic damages suffered
by Party A as a result of Party B's dereliction of duty or breach of
duty.
VI. Breach Liability: During the term of engagement, any party shall not
terminate the contract without the consent of the other party; otherwise,
the breach party should compensate the other party for the economic
damages suffered by the other party.
VII. The attachments and exhibits to the contract shall be equally binding on
both parties.
VIII. Should disputes arise during the performing of this contract, the two
parties shall settle them through negotiations on their own; if they
cannot be settled through negotiations, a lawsuit can be lodged to the
court where the party concerned resides.
Party A: Shandong Bangsheng Chemical Co., Ltd (official seal)
Party B: /s/ Xx Xxxxxx (signature)
---------------
Date: January 1, 2005
