Exhibit 10.1
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This AMENDMENT NO. 1 (the "Amendment") to EMPLOYMENT AGREEMENT is made as
of 4th day of December, 2010, by and between Fujian Jinjiang Pacific Shoes Co.,
Limited, located at Xx.00 Xxxxxxxx Xxxxxxx Xxxx, Xxxxxxxxx, Chendai Township,
Jinjiang City, Fujian Province, P.R.C. (the "Company"), on the one hand, and Li
Haiting, Chairman of the Board, President and Chief Executive Officer of the
Company, on the other hand (the "Executive").
WHEREAS, the Company and the Executive entered into an Employment Agreement
dated as of December 5, 2007 (the "Employment Agreement"); and
WHEREAS, the Executive continues to perform valuable services for the
Company and the Company desires to assure itself of the continuing services of
Executive; and
WHEREAS, in consideration of the foregoing and in order to amend the terms
of the Agreement and to provide for certain additional compensation to the
Executive in accordance with the present intent of the Company and the
Executive.
NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, receipt of which is hereby acknowledged, and in further
consideration of the mutual covenants contained in the Employment Agreement, the
parties do hereby agree that the Employment Agreement is hereby amended as
follows:
1. Paragraph 1 of the Employment Agreement is to be amended and restated to
read in its entirety as follows:
"l. TERM. The term of the Executive's employment with the Company pursuant
to this agreement shall be from December 4, 2010 to December 4, 2015."
2. In all other respects, the provisions of the Employment Agreement as
restated remain unchanged and in full force and effect.
THE PARTIES TO THIS AMENDMENT HAVE READ THIS AGREEMENT, UNDERSTAND ITS TERMS AND
CONDITIONS AND AGREE TO BE BOUND BY ITS TERMS AND CONDITIONS.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.
EXECUTIVE:
/s/ Li Haiting
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Li Haiting, President and CEO
FUJIAN JINJIANG PACIFIC SHOES CO., LIMITED:
/s/ Xxxxx Xxxx
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Xxxxx Xxxx, CFO
