Employment Contract
Exhibit
10.7
Employment
Contract
Shenzhen
Ritar Power Co. Ltd (
hereinafter “Party A”) agrees to employ
Mr. Degang He
(hereinafter “Party B”) as the Chief
Engineer and the head of the research and development of new products
(CTO).
The two
parties, pursuant to the principles of freedom
of contract, equity, mutual benefits and trustworthiness,
agree
to sign this contract on August 1st,
2006.
I. Period
The
period of the employment contract will be three years, from the 1st of August
2006 to the 31st of July 2009.
II. The
Duty of Party B
Based
on
negotiation between Party A and Party B, Party B shall serve as Party A’s Chief
Engineer and the head of the research and development of new products (CTO).
During the period, Party A has the right to arrange and adjust Party B’s
position in accordance with his capacity and relevant requirements. Party B
shall comply with instructions from Party A’s management and finish the task
assigned by Party A in the given time.
III. Working
hours
1. The
working hours of Party B shall not exceed eight hours each day.
2. Any
treatment of overtime work should be in conformity with the Provision 41 of
the
Labor Law.
IV. Salary
Party
B's
monthly salary will be RMB15,000 yuan (pretax income) in accordance with the
company rule.
Party
B
shall get the bonus in accordance with the company’s bonus system
Party
A
shall pay Party B's salary regularly based on actual work days. Party B’s salary
will be deducted for each absent day including leave for illness or personal
affairs.
V.
Working
Conditions
Party
A
should provide necessary protective measures in conformity with relevant state
regulations and rules pertaining to the specific working
environment.
VI.
Benefits
Pursuant
to applicable laws, Party A shall purchase social security insurance for Party
B.
In
the
event that Party B endures illness or work-related injury, Party A shall grant
Party B leave of absence pursuant to relevant state regulations. During the
above mention period, Party B shall be entitled to salary payment pursuant
to
the terms of applicable laws. If Party A fails to purchase health insurance
under the terms of this contract before the illness or injury occurs, Party
A
shall be responsible for medical expenses incurred by the above mentioned
illness or injury.
In
the
event of Party B’s injury, illness or loss of life due to his employment, Party
A shall provide benefits pursuant to the applicable laws.
Party
A
shall provide Party B with applicable holiday benefits, vacation benefits,
personal time benefits, and maternity leave. The above mentioned periods shall
be paid by Party A.
VII.
Disclosures
and Compliance of Applicable Regulations
Party
A
shall disclose to Party B all the internal regulations and rules enacted
pursuant to applicable state laws. Party B shall comply with the internal
regulations and is subject to evaluations regarding his compliance.
VIII.
Termination
of the Contract
Either
of
the both parties shall give written notice to the other party 30 days before
it
terminates the contract.
IX. Breach
of the Contract
1
If
Party A terminates the contract without justified cause and this behavior
infringes Party B’s interests, it should pay a breach penalty to Party
B.
2
If
Party B should pay breach penalty to Party A for terminates the contract without
justified cause, breach of the working disciplines or breaking the operating
rules. If the aforesaid behaviors infringes Party A’s interests, Party B shall
pay the damages.
X. Party
A
and Party B entered into this Agreement under the principle of freedom of
contract, equity, mutual benefits and trustworthiness. This contract takes
effect on the date signed by both parties and will automatically expire when
the
contract ends.
XI. This
contract shall be prepared in duplicate, and each Party holds one copy. Both
copies have the same legal effect.
Party
A:
Shenzhen Ritar Power Co. Ltd:
(Corporate
Seal)
Date:
08/01/06
| Party B: | /s/ Degang He | |||
|
Degang
He
Date:
08/01/06
|
||||
