AMENDED PRELIMINARY FINANCIAL SERVICE AGREEMENTPreliminary Financial Service Agreement • August 5th, 2008 • China Power Equipment, Inc. • Electrical industrial apparatus
The Preliminary Financial Service Agreement is entered into as of May 14, 2008 between ELZ Accountancy Corp., its designated employee Elaine Zhao (collectively “Zhao”), and China Power Equipment, Inc. (the ‘Company”). ELZ Accountancy Corp. hereby agrees to designate its employee Elaine Zhao to serve as Chief Financial Officer of China Power Equipment, Inc., for an initial period of two years. The annual compensation, paid quarterly to ELZ Accountancy Corp. or Elaine Zhao at the beginning of each quarter, shall be US $45,000.
