Agreement For Termination of Yu Hua Chen’s Employment Contract As Chief Officer - China Termination Of Chen Yu Hua’s Employment & Settlement of Salary
Exhibit
99.9
Agreement For Termination of
Yu Xxx Xxxx’x Employment Contract As Chief Officer - China
Termination Of Xxxx Xx Hua’s
Employment & Settlement of Salary
Xxxx Xx
Hua (“CYH”) and Mezabay International Inc. (Formerly, Cardtrend International
Inc.) (“Company”) herby mutually agree that CYH’s employment with the Company
under the Employment Contract dated October 31st,
2007 (“Employment Contract”) shall be terminated with effect from September 23,
2009. Accordingly, CYH hereby resigns from the Company as its Chief Officer –
Greater China with effect from September 23, 2009.
CYH and
the Company mutually agree that the Company shall pay to CYH (i) a sum of HK$
41,148.84 being salary from September 1, 2009 to September 23, 2009; (ii)a sum
of HK$ 113,260.27 in lieu of 53 days of vacation leave which CYH was entitled to
but unconsumed as at September 23, 2009; and (iii) a sum of HK 2,423,342.47
being compensation for early termination of the Employment Contract, totaling
HK$ 2,577,751.58 (or US$ 332,548.74) (“Total Due”).
CYH and
the Company mutually agree that the Company shall settle the Total Due of US$
332,548.74 by issuing to CYH a total of 41,568,593 Rule 144 restricted shares of
its common stock, at a price of $0.008 per share (“Shares”).
CYH
agrees that the unvested and vested shares as at September 23, 2009 of all the
two share options granted to him by the Company on September 5, 2008 are hereby
cancelled with immediate effect.
CYH and
the Company hereby agree that upon the issuance and delivery of the Shares to
CYH by the Company, the Company and CYH shall have discharged all their
respective obligations under the said Employment Contract and any addendum
thereto and they shall release each other of any other obligation and shall have
no claim against each other.
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Agreed
to by:
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For
and on-behalf of
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For
and on-half of
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Xxxx
Xx Xxx
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XXXXX
XXX XXXX
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XXXX
XX XXX
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Xxxxx
Xxx Xxxx
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Xxxx
Xx Hua
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Director
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(China
I/C No.: 000000000000000000)
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Date:
September 23, 2009.
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Date:
September 23, 2009
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