WEALTHCRAFT LOGO GOES HERE] LABOR CONTRACT OF SHENZHEN SPECIAL ECONOMIC ZONE
PARTY A (EMPLOYER) PARTY B (EMPLOYEE) COMPANY: WEALTHCRAFT SYSTEMS (SHENZHEN)
LIMITED NAME JENNY LI OWNERSHIP OF THE COMPANY: Whole of GENDER:FEMALE AGE: 32
YEARS OF WORK:11 Foreign Investment ADD: Room B01,B02, 14th ...
[WEALTHCRAFT LOGO GOES HERE]
LABOR CONTRACT OF SHENZHEN SPECIAL ECONOMIC ZONE
PARTY A (EMPLOYER) PARTY B (EMPLOYEE)
COMPANY: WEALTHCRAFT SYSTEMS (SHENZHEN) LIMITED NAME JENNY LI
OWNERSHIP OF THE COMPANY: Whole of GENDER:FEMALE AGE: 32 YEARS OF WORK:11
ADD: Room B01,B02, 14th Floor, Anlian Plaza ,No.4018,
Jintian Road Futian District, Shenzhen , 518026 PLACE OF BIRTH: GUANGDONG
TEL: 0755(POUND)-88284975 HUKOU: SHENZHEN CITIZEN
LEGAL REPRESENTATIVE: KELLY J. TALLAS(CNADA) ID CARD: 441502197410141047
RESIDENCE: ROOM 607, SHENNAN MIDDLE-SCHOOL COMPLEX
BUILDING, NONGLIN ROAD, FUTIAN DISTRICT, SHENZHEN,
Party A and Party B reaches the following agreement under the principles of
equality and accordant discussion in accordance with "Labor law of the People's
Republic of China" and the "Labor contract ordinances of Shenzhen Special
1. POSITIONS AND JOB CHARACTERS ( JOB DESCRIPTION)
Party A, in accordance with the production (work) requirement, appoints Party B
to the position of CHIEF FINANCIAL OFFICER for FINANCIAL MANAGEMENT WORK.
2. DURATION OF CONTRACT ( PROBATION PERIOD )
2.1 DURATION OF CONTRACT
Party A and Party B can select from the followings to be the duration of the
[ ] Fixed period of ____ year, starting from ___ date ___ month ___ year to___
date ___month ___year. [ ]. Non fixed period of time, starting from SEPTEMBER
4TH 2006 year. [ ] To complete a certain type of job as the period starting from
___ date ___ month ___ year.
2.2 PERIOD OF PROBATION
[ ] Not necessary for probation.
[ ] Period of probation is THREE months (included in the period of contract)
3. WORK DAY DURATION
Party A carries out 3.1 of the following work day duration stipulated by the
3.1 STANDARD WORK DAY DURATION, WHICH IS 8 HOURS PER DAY AND 40 HOURS PER WEEK(
(DOES NOT INCLUDE ONE HOUR LUNCH BREAK, SO NORMAL DAY SHOULD BE 9AM--6PM))
3.2 NON-FIXED WORK DAY DURATION.
3.3 COMPREHENSIVELY CALCULATE WORK DAY DURATION.
Party A , in accordance with business requirement, can prolong work day duration
after consulting with the trade union and Party B, but generally the
prolongation should not exceed one hour within a day; For some special reasons,
the work day duration should not extend over three hours under the conditions of
health guarantee for Party B. The total overtime in a month should not exceed 36
hours. If the overtimes fall in the other situations allowed by laws and
administrative regulations, the above prohibition should not be abided.
4. TREATMENT REMUNERATION
4.1 Party B will be paid RMB/month during his/her probation, and after the
probation, the salary will BE 19,500/month . Party A can adjust the salary as
the situation requires, or by the contract terms, but it cannot be lower than
the minimum wage stipulated by the government.
4.2 Salary will be paid on the 15th of every month.
4.3 For the overtime work arranged by Party A, extra remuneration should be paid
in accordance with article 44 in i(degree)Labor lawi+/-.
4.4 Remuneration for Party B while in illness or injury not from business should
be made in accordance with regulations concerned.
4.5 Remuneration for Party B should be paid as usual when Party B carries out in
working time the national and social duties in accordance with the national
4.6 Remuneration for Party B in downtime should be made in accordance with the
4.7 Party B enjoys the vacation in accordance with the national regulations
concerned and the remuneration in vacation should be made in accordance with
national, provincial or civic regulations.
5. WORKING PROTECTIONS AND WORKING CONDITIONS
5.1 Party A should provide Party B all the necessary working protection articles
which should accord with national regulation and the sanitary conditions. Health
inspections should be made periodic for those engaged in harmful occupation.
5.2 Party B has the right to refuse the orders from Party A if they are against
the rules and too risky and has the right to criticize and complain if the
orders are life risky and health harmful.
6. SOCIAL INSURANCE AND WELFARE TREATMENT
6.1 Party A should pay social insurance for Party B in accordance with the
regulations concern the social insurance of Shenzhen.
6.2 In case that Party B was injured or killed on business, it should be handled
in accordance with i(degree) Insurance regulations on business injuries of
Shenzhen Special Economic Zonei+/-.
6.3 Party A should improve the welfare treatment of Party B continuously if the
economic condition can afford.
7. WORKING DISCIPLINES
In period of contract, Party B should:
7.1 Abide by all the regulations stipulated legally by Party A.
7.2 Abide strictly by the safety operation rules to guarantee safety production.
7.3 Complete the jobs stated by Party A.
7.4 Preserve Party Ai-s property and to protect Party Ai-s trade secrets.
7.5 Abide by the birth control policy of national and local policies.
8. MODIFICATION, CANCELLATION, REVISION AND TERMINATION OF THE CONTRACT
8.1 THE CONTRACT CAN BE MODIFIED BY MUTUAL AGREEMENT.
8.2 PARTY A CAN CANCEL THE CONTRACT AT ANY TIME WHEN THE FOLLOWINGS OCCURRED:
[ ] Party B was approved non qualification of employment in trial period
[ ] Party B offended seriously the labor disciplines or regulations of Party A
[ ] Party B's breach of duty, jobbery causes serious damages to Party A's
[ ]Party B was prosecuted for criminal offenses.
[ ] Other situations regulated by laws and regulations.
8.3 PARTY A CAN RESCIND THE CONTRACT WHEN THE FOLLOWINGS OCCURRED, BUT HAVE TO
INFORM PARTY B IN WRITTEN FORM 30 DAYS IN ADVANCE
[ ]) When Party A is in the brink of bankruptcy, in a statutory consolidation or
when the operation is in deep difficulties and necessity of personnel reduction
has been confirmed by the competent labor bureau.
[ ] Party B ,in illness or injuries not by work-related accident, fail to assume
the original positION OR the new position properly assigned by Party A after the
completion of medical treatment;
[ ] Party B is unable to take up his job and remains unqualified after training
or adjustment with NEW Post.
[ ] No agreement on modification of the labor contract can be reached through
consultation by the partieS involved when the objective conditions taken as the
basis for the conclusion of the contract have greatly changed so that the
original labor contract can no longer be carried out.
8.4 PARTY A SHALL NOT REVOKE ITS LABOR CONTRACT WITH PARTY B IN ACCORDANCE WITH
THE STIPULATIONS IN ARTICLE 2 IN ANY OF THE FOLLOWING CIRCUMSTANCES:
[ ] Party B has been confirmed to have totally or partially lost the ability to
work due to occupatiONAl diseases or injuries suffered from at work;
[ ] Party B is in medical treatment for diseases or non work-related injuries
but still within THE prescribed period of time;
[ ] Party B is a female staff member or worker during pregnant, puerperal, or
[ ] Other circumstances stipulated by laws, administrative rules and
8.5 PARTY B MAY NOTIFY AT ANY TIME THE EMPLOYING UNIT OF HIS DECISION TO REVOKE
THE LABOR CONTRACT IN ANY OF THE FOLLOWING CIRCUMSTANCES:
[ ] within the probation perIOD;
[ ]Party A fails to pay Party B remuneration or fails to provide working
conditions as agreed upon in the labor contract.
[ ] Party A forces the Party B to work by resorting to violence, intimidation or
illegal restriction of personal freedom;
[ ]Other circumstances stipulated by laws, administrative rules and regulations.
8.6 THE CONTRACT SHALL BE TAKE AS AUTOMATICALLY REVOKED WHEN ANY OF THE
FOLLOWING CIRCUMSTANCES OCCURRED:
[ ] Bankruptcy was legally declared for Party A;
[ ] Party A was legally ceased or abolished;
[ ] Party B death.
8.7 PARTY B SHOULD IN FORM PARTY A IN WRITTEN FORM 30 DAYS IN ADVANCE TO REVOKE
THE CONTRACT EXCEPT AS REGULATIONS IN ART.5.
8.8 REVISION OF LABOR CONTRACT
when Party A and Party B agree to extend the labor contract, a new labor
contract should be signed 30 days before the date of expiration.
8.9 TERMINATION OF THE CONTACT
the contract will be terminated automatically when it expires or the termination
9.RESPONSIBILITIES OF BREACH OF THE CONTRACT
9.1 PARTY A'S LEGAL RESPONSIBILITIES:
[ ] Party A deducts and delays without reason Party B's remuneration, or
refuse to pay Party B's overtImE wages, it should pay Party B all the wages and
25% of the wages deducted or delayed as the compensation in addition.
[ ] Party A, when remunerations paid to Party B by Party A is lower than the
minimum wage of the current Year published by the government, should make up the
amount which is lower than the standards in addition to pay 1% of the total
amount every day to Party B.
[ ] Party A shall compensate Party B's economic loss if any due to the Party A's
failure to pay social insurance for Party B in accordance with Item 1 of Art.6
of this contract.
[ ] Party A shall pay Party B one-off compensation when any of the following
circumstances occurred [ ] the contract is revoked by mutual agreement after
discussion on Party A's suggestion;
[ ] Party A revokes the contract in accordance with 1,2,3,4 of item 3 or 2,3,4
of item 5 of Art.8
[ ] Party A shall pay Party B a one-off of medical subsidy in accordance with
the state regulation wheN THE contract is revoked by Party A according to 2 of
Item 3 of Art.8.
[ ] Party A shall pay one month of the yearly average wages to Party B if the
contract is revoked by Party A in
9.2 PARTY B'S LEGAL RESPONSIBILITIES
Party B shall compensate Party A the following loss caused by of Party B's
breaching the contract.
[ ] The cost of Party A' for recruitment of Party B;
[ ] Training fee paid by Party A
[ ] Direct loss caused for production or operation;
9.3.The responsibility will be taken for breaking the items, If Party A's profit
is badly injured by Party B, Party A has the right to asked for the compensate
10. DISPUTES SETTLEMENT
when disputes appeared between Party A and Party B, negotiation should be
resorted. Mediation to Labor Dispute Mediation Committee (Group) can be applied
and arbitration to Arbitration Committee can also be directly applied. The
adjudication of the arbitration must be carried out if there is no objection.
The case can be further taken for a court if the adjudication is not accepted.
11. THE OTHER TERMS THAT BOTH PARTIES LIKES TO AMEND
11.1 Party B shall give only correct and true personal information, or Party A
could fire Party B without any compensate.
11.2 Party B shall keep the amount of his/her salary as private, and won't pry
into other colleagues' salary, or Party A can punish him/her.
11.3 Without permission, Party B can not take any part-time job, or be involved
in any other affairs concerning Party A's business.
11.4 Party B can not engage any illegal affaires under the Party A's name, or
Party A can ask Party B take the responsibility for his /her immoral and illegal
11.5 Party B can not filch any confidential document, data, source code, or
other proprietary information belonging to Party A in any manner. If Party A's
trade secrets such as: technical or commercial resources are leaked out by Party
B, Party A will seek a legal recourse to Party B's actions.
12. THOSE NOT INCLUDED IN THE CONTRACT OR THE TERMS OF THE CONTRACT RUN COUNTER
TO THE REGULATIONS OF THE LABOR LAWS AND REGULATIONS, THE CURRENT LAW SHALL BE
13. THE CONTRACT SHALL GO INTO FORCE AFTER THE SIGNATURE OF BOTH PARTIES.
ALTERATION OR SIGNATURE WITHOUT WRITTEN AUTHORIZATION IS INVALID.
14. THE CONTRACT IS MADE IN TWO ORIGINALS AND ONE FOR EACH.
15. THE FOLLOWINGS ARE THE APPENDIX OF THE CONTRACT AND ALL OF THE APPENDIX HAS
THE SAME EFFECT AS THE CONTRACT.
15.1 Party B can enjoy a annual leave for ten days yearly while working for
Party A, Unused days can not be transferred to the next year, Party A will the
unused days for compensation and pay Party B before February.(unused days for
compensation: calculated using Employees Annual Average Daily Wage*unused days.
Annual Average Daily Wage=Total Annual Salary (not incl. bonuses or
welfare)/number of working day in the year)
15.2 Performance evaluation for Party B will be carried out periodically, and
Party A will reward the bonus once a year base on the Party B's periodically
15.3 Party A will buy all the social insurance and take the personal tax base on
the Party B's actually salary.
15.4 Party A will arrange the compensate day-off or pay the overtime working
according to the statutory standard, if overtime is required and justified based
on project demand.
16.1 In accordance of the rules of "Labor law of the People's Republic of China"
and the "Labor contract ordinances of Shenzhen Special Economic Zone", a
non-fixed contract has to be signed when an employee serve for a same employer
over ten years continually, both sides agree to continue the contract, employee
is willing to; or a Shenzhen Citizen, serve in an employer over five years and
male with more or equal 25 years working experience, female over 20 years
16.2 In term of the No.11 in "Labor contract ordinances of Shenzhen Special
Economic Zone", employer can state the probation period, shorter than three
months, in labor contract with employee; any special requirement to skills or
activities, probation period can be longer but no longer than six months. No
probation period to continue the labor contract when the position is not
16.3 Permission from labor administration department is required according to
state related regulation when A cannot complete the standard work day duration
but non-fixed or comprehensively calculated day duration instead based its work
characteristics or production limitation.
16.4 Based on the rule of "The lowest payroll in Shenzhen Economic Zone", the
lowest pay is an employer has to pay to an employee for his/her regular services
within regular working time.
16.5 The responsibility of breach includes legal responsibility and agreed
responsibility. Three methods of taking the responsibility: compensation losses;
pay penalty and continue to fulfill contract. Both parties can select the method
based on the real situation and agreement under the principles of equality.
Agreed penalty should be equally valid to both parties if the method of agreed
penalty method is selected in order to show the principles of equality. The
penalty amount and calculation way should be definitely and feasibly.
16.6 The standard of giving ecumenical compensation bases on B's continually
working period: one month salary will be given for a full year; one month salary
also will be given for the period over half year but less than one year; half
month salary will be given for the period less than half year. Monthly salary is
the average of the last three months before canceling labor contract. If the
contract canceled under the No.8 (3) and No.9 (1) item No.4, the compensation
period can not excess 12 months.
16.7 In accordance of the rules of "Labor law of the People's Republic of
China", The party that requests for arbitration shall file a written application
to a labor dispute arbitration committee within 60 days starting from the date
of the occurrence of a labor dispute. Where a party involved in a labor dispute
is not satisfied with the adjudication, the party may bring a lawsuit to a
people's court within 15 days from the date of receiving the ruling of
arbitration; the ruling of arbitration will be valid if it is expired.
16.8 Attachment of the contract should meet the requirement of laws and
regulation, otherwise, it is invalid.
16.9 An entrusted contract only is valid with written authorization. The miss
party will take the responsibility based on the No.15 of "Labor contract
ordinances of Shenzhen Special Economic Zone"
Seal (Party A) Signature (Party B):
Wealthcraft Systems Limited. Jenny Li
Kelly J. Tallas
Date: AUGUST 30TH 2006 Year
In accordance with the regulation of i(degree)Labor contract ordinances of
Shenzhen Special Economic Zonei+/-, written format is required. Each party will
have one copy.
Received contract [ ] Employee Copy [ ]Jenny Li
Date: August 30th 2006