Asia Time Corporation EMPLOYMENT CONTRACT
Asia
Time Corporation
EMPLOYMENT
CONTRACT
Contract
No.: C058
This
employment contract is entered into between Asia Time Corporation (hereinafter
referred to as the “Employer”) and Xx.
Xxxx Xxx XXX,
HKID No.
C497030
(
4 )
(hereinafter referred to as the “Employee”) on the 21st
April
2008 under the terms and conditions of employment below:
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1.
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Commencement
of Employment
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Effective
from 21th
April
2008 until either party terminates the contract.
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2.
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Position
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Department:
Finance Department
Position:
Chief Financial Officer
Job
Responsibility: In charge of finance department.
Employee
No.: C058
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3.
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Wages
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3.1
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Probation
Wage (HK$):
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Monthly
Wage HK$80,000.00
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3.2
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Basics
Wage (HK$):
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Monthly
Wage HK$80,000.00, and
Annual
bonus, which is subject to the performance of the company, will be set by the
board of directors and may include cash and stock options.
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3.3
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Special
Allowance (HK$):
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Traveling
Allowance: HK$
NIL
Overseas
Trip Allowance: HK$
NIL
Monthly
Sales Commission: HK$ NIL
Others:
NIL
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3.4
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Salary
will be paid monthly in the first day of the following month, or
the first
working day in case of public
holiday.
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1/9
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4.
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Working
Hours
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Monday
to
Friday:
From:
9:00 A.M. To: 6:00 P.M.
Saturday
From:
9:00 A.M. To: 1:00 P.M.
Lunch
Time:
From:
1:00 P.M. To: 2:00 P.M.
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5.
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Probation
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5.1
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Probation Period: |
From:
21st
April
2008 To: 20th
June
2008
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5.2
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The Employee will become a normal employee after the probation period; therefore, he/she is not entitled to the normal employee benefits during the probation. Normal employee benefits includes paid holidays (Hong Kong General Holidays), paid annual vacation, paid sick leave and paid maternity leave. |
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6.
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Employee
Benefits
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6.1
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Paid
Holidays:
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§ The
Employee is entitled to the general holidays of Hong Kong; but only normal
employees can enjoy the holidays with pay.
§ During
probation, the Employee shall take rest in these holidays but without pay.
The
deduction of wages will be calculated as follows:
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Wage
deduction =
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No.
of Leave
|
X
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Monthly
or Basic Wage
|
|
No.
of Days of that Month
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6.2
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Paid
Annual Vacation:
§ The
Employer’s holiday year runs from 1 January to 31 December of every year.
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| § |
The
Employee is entitled to paid annual leave according to the provisions
of
the Employment Ordinance. 7 working days annual vacation after completion
of the first year’s service. One day will be added for completion of one
year service, subject to a maximum of 14 days. Vacations should be
taken
in the next 12 months; vacations not taken in any year will be forfeited
and cannot be carried forward to the next
year.
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2/9
| § |
According
to the practice of the Employer, part of the annual vacation will
be taken
during the consecutive holidays of the Lunar New Year. Rest of the
vacation would be taken at the Employee’s discretion. However, seven day’s
application is required if 2 or more days are applied.
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6.3
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Paid
Sick Leave
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The
Employee is entitled to paid sick leave and allowance according to the
provisions of the Employment Ordinance. In addition, normal employee can enjoy
one day full paid leave per month, but medical certificate from a registered
practitioner or dentist should be presented by the Employee. Full paid sick
leave entitlement cannot be accumulated and the use should not be
abused.
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6.4
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Maternity
Leave
The
Employee is eligible for maternity leave pay according to the provisions
of the Employment Ordinance if:
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|
i)
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She
has been employed under a continuous contract for not less than 40
weeks
immediately before the commencement of scheduled maternity leave;
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|
ii)
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She
has given notice of pregnancy and 1 month prior notice of her intention
to
take maternity leave to the Employer with the presentation of a medical
certificate confirming her pregnancy.
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7.
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Termination
of Contract
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| 7.1 |
Termination
of Contract during Probation:
During
the probation, if either party wishes to terminate the contract,
a one
month written notice shall be given to the other party or a sum
equivalent
to the amount of monthly/basic wages for the notice period.
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7.2
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After
the probation:
If
either party wishes to terminate the contract, four months written
notice
should be given to the other party or a sum equivalent to the amount
of
monthly/basic wages for the notice period.
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7.3
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If
the Employee is guilty of dishonesty, theft, fraud, habitually neglectful
in his/her duties, or have done anything detrimental to the business
of
the Employer, any material breach of the regulations of the Employer,
willfully disobeys a lawful and reasonable order, the Employee could
be
summarily dismissed without notice or payment in lieu of notice and
the
Employer reserves the right to take further action.
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3/9
| 7.4 |
Existing
works should be passed to the successor prior
leave.
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| 7.5 |
The
Employee is not allowed to work for any suppliers or clients who
have
business relationship with the Employer within the next 12 months
after
termination, and no information of the Employer should be used for
any
purposes, otherwise, the Employer reserves the right to take further
action.
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8. Mandatory
Provident Fund
In
accordance with the requirements specified in the Mandatory Provident Fund
Schemes Ordinance, the Employee will contribute 5% of his/her monthly wages
towards the Scheme, while the Employer for another 5%. The Employee is required
to produce copies of MFP Statements for final compensation calculation upon
the
request of the Employer.
9. Others
| 9.1 |
Any
provisions not detailed in this contract shall be referred to the
Employment Ordinance, the Employees’ Compensation Ordinance and any other
relevant Ordinances, and the employee regulations of the
Employer.
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| 9.2 |
This
Contract has the following annex: Confidential
Agreement for
Asia Time Employeeswhich
forms part of this contract.
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| 9.3 |
This
contract is the agreement between the Employer and the Employee,
and
should not be used for any other purpose. Once discovered, the Employer
reserves the right for further
action.
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4/9
The
Employer and the Employee hereby declare that they understand thoroughly the
above provisions and further agree to sign to abide by such provisions. They
shall each retain a copy of this contract for future reference.
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The
Employer:
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The
Employee:
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||
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(With
company chop)
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|||
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/s/
Kai Xxxx Xxxxx
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/s/
King Xxx Xxx
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Name:
Kai Xxxx XXXXX
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Name:
King Xxx XXX
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CEO
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HKID
No.:
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Date:
21st
April, 2008
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Date:
21st
April, 2008
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5/9
Annex
Confidential
Agreement for Asia Time Employees
1. Confidentiality
| 1.1 |
The
Employee shall not either during or after the termination of his
employment by the Company
hereunder:
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| (a) |
divulge
or communicate to any person or persons except to those officers
of the
Company or the Group whose province it is to know the same and except
as
required by law; or
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| (b) |
use
for his own purposes or for any purposes other than those of the
Company
or the Group; or
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| (c) |
through
any failure to exercise all due care and diligence cause any unauthorised
disclosure of,
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any
secret confidential or any other information:
| (i) |
relating
to the business, potential business, finances, dealings or affairs
of the
Company or any member of the Group; or
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| (ii) |
relating
to the working of any process or invention which is carried on or
used by
the Company or any member of the Group or which he may discover or
make
during his employment hereunder; or
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| (iii) |
in
respect of which any such company is bound by an obligation of confidence
to any third party (including any principal, joint venture partner,
contracting party or client of the Company or Group) written notice
of
which has been given to the Employee or of which he is aware,
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but
these
restrictions shall cease to apply to any information or knowledge which may
(otherwise than through the default of the Employee) become available to the
public generally without requiring a significant expenditure of labour, skill
or
money, or becomes lawfully available to the Employee from a third party free
from any confidentiality restriction or any information required to be disclosed
under any relevant law or regulation. The Employee undertakes to notify the
Company promptly of any unauthorized release of the above secret confidential
information.
6/9
Save
as
mentioned above, for the purpose of this clause, “secret confidential
information” shall also include all information which is obtained, whether in
writing, pictorially, in machine-readable form or orally, by observation during
visits or provided by Company or the Group to the Employee, whether of a
technical or business nature and/or ideas including but without limitation,
financial information, know-how, trade secrets, technology, customers lists
(potential or actual) and other customers-related information, suppliers
information, sales statistics, market projection and intelligence, marketing
and
other business strategies and other business or commercial
information.
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1.2
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The
Employee will promptly whenever requested by the board of directors
of the
Company and in any event upon the termination of his employment,
deliver
up to the Company or its nominees all lists of suppliers, clients
or
customers, correspondence and all other documents and records in
whatever
medium and assets relating to the business of the Group, which may
have
been prepared by him or have come into his possession, custody or
control
in the course of his employment, and the Employee will not be entitled
to
and will not retain any copies thereof. Title to and copyright in
these
items will vest in the Company.
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2. Non-competition
and Non-solicitation
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2.1
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During
his employment the Employee will not, without obtaining the prior
approval
of the board of directors of the Company, be directly or indirectly
engaged or concerned in the conduct of any other business or have
any
financial interest in any other business which, in the reasonable
opinion
of the board of directors of the Company, is an
organisation:
|
|
(a)
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which
competes or may compete with the business of the Company or the Group;
or
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(b)
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an
association with which could jeopardize the reputation of the Company
or
the Group; or
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7/9
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(c)
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an
engagement with which would adversely affect the Employee's ability
to
perform his duties fully and properly under this
Agreement,
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provided
that this shall not prohibit the holding (directly or through nominees) of
investments listed on any recognised stock exchange as long as not more than
five per cent. (5%) of the issued shares or stock of any class of any company
shall be so held without the prior sanction of the board of directors of the
Company.
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2.2
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The
Employee will not, for a period of [twelve (12)] months after the
termination of his employment with the Company (howsoever caused),
either
personally or through an agent, carry on or be interested or engaged
in
(other than as a holder of not more than five per cent (5%) of the
issued
shares or debentures of any company listed on any recognised stock
exchange), or be concerned directly or indirectly in any Employee,
technical, advisory or other capacity in, any business concern (of
whatever kind) which is in direct competition with the business of
any
member of the Group. However, this restriction will not restrain
the
Employee from being engaged or concerned in any business concern
insofar
as the Employee's duties or work will relate solely
to:
|
|
(a)
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geographical
areas outside Hong Kong where the Group have not transacted any business;
or
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(b)
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services
or activities of a kind with which the Employee was not concerned
to a
material extent in respect of the Group during his employment with
the
Company.
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2.3
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The
Employee undertakes that he will not within a period of [twelve (12)
months] after the termination of his employment with the Company
(howsoever caused), within Hong Kong, or in any other country where
the
Group has transacted business, either personally or through an agent,
directly or indirectly:
|
|
(a)
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solicit
or endeavour to entice away from the
Group:
|
|
(i)
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any
person, firm, company or other organisation which within [twelve
(12)]
months prior to or at the date of such termination was a customer
or
client of, or in the habit of dealing with the Group and with whom
the
Employee had contact or about whom he became aware or informed of
in the
course of his employment; or
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8/9
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(ii)
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any
other person, firm, company or other organisation with whom the Employee
had regular, substantial or a series of business dealings on behalf
of the
Group; or
|
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(iii)
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any
employee, director, adviser or consultant of any member of the Group;
and
|
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employ
or otherwise engage or use the services of any person who is an employee,
adviser, consultant of or under a contract of services with any member
of
the Group.
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2.4
|
While
the restrictions contained in this Agreement are considered by the
parties
to be reasonable in all the circumstances, it is agreed that if such
restrictions as a whole are adjudged to go beyond what is reasonable
for
the protection of the confidential information and other legitimate
investment interests of the Company, and to be unenforceable, but
would be
adjudged reasonable and enforceable if any part of the wording thereof
were deleted or the period thereof reduced or the range of activities
or
area reduced in scope, then such restrictions will apply with such
modifications as may be necessary to make it valid and
effective.
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Accepted
by:
________________________
King
Xxx
XXX
9/9
