INDEPENDENT DIRECTOR’S AGREEMENT
This
Director’s Agreement is accepted and agreed between China Shenghuo
Pharmaceutical Holdings, Inc. (the “Company”), a Delaware corporation, and [Name
of Independent Director] (the “Independent Director”).
WHEREAS,
the Board of Directors of the Company wishes to appoint the Independent Director
as a member of the Board of Directors [and a member of the Audit Committee]
and
the Independent Director wishes to serve as a member of the Board of Directors
[and a member of Audit Committee] (“Board”);
WHEREAS,
the Company and Independent Director wish to set out the terms of compensation
for Independent Director’s service upon his appointment to the Company’s
Board;
NOW,
THEREFORE, the Company and Independent Director agree to the following
Independent Director’s Agreement.
1. The
annual compensation for the Independent Director is [Amount of Compensation],
namely [Amount of Compensation] will be credited into the account of the
Independent Director [every specified pay period].
[2. The
Company offers the [Independent Director] the Incentive Stock Option Plan of
purchasing 3,000 China Shenghuo Pharmaceutical Holdings Inc.’s shares at the
price of 3.5 dollars per share every year.]
[3. [Amount
of Compensation] for each Board meeting attended in person.]
4. The
Company further agrees to reimburse all the reasonable travel and other expenses
Independent Director incurs for attendance at every Board or Committee meeting
or providing the service requested by the Company.
5. This
Agreement starts from signing.
Accepted
and agreed to:
CHINA
SHENGHUO PHARMACEUTICAL
HOLDINGS,
INC.
__________________________________________
GUI
HUA
LAN
Chief
Executive Officer and Chairman of the Board
INDEPENDENT
DIRECTOR [AND OTHER POSITION HELD]
__________________________________________
[NAME
OF
INDEPENDENT DIRECTOR]
Independent
Director [and Other Position Held]
September
25, 2007
