YuePengCheng Motor Co., Ltd. (hereinafter referred to as “Party
(Employee):____________________(hereinafter referred to as “Party
consultation conducted in accordance with the principles of equality and
voluntariness, the parties have entered into this Employment Contract
(hereinafter referred to as “Contract”) in accordance with the Labor Law of
People’s Republic of China (hereinafter referred to as “Labor
term of contract is ____years, start from __________ (dd/mm/yy) to ___________
(dd/mm/yy) , the first ____ months of which shall be the probation
the probation period, either party shall have the right to terminate this
contract with a written notice; however, Party A only has the right to terminate
this contract when Party B has failed to satisfy requirements for recruitment.
Party A’s requirements for recruitment shall be stipulated in its Employee
Handbook and other relevant regulations. If no notice of termination is
given during the probation period, Party B shall become automatically employed
under the terms and conditions stipulated in this contract upon expiration of
the probation period.)
Article 2: Job Position and Duties
agrees to takes the position as________________in __________ department, at the
working place of___________________according to Party A’s need.
Hours, Rest Days and Holidays
are 8 working hours a day, 40 working hours a week.
B shall perform the flexible working hour rules. After assured to finish Party
A’s work, Party B’s working Hours and rest days shall be executed according to
Party A’s relevant regulations. Party B will perform the flexible working hour
rules after approval by labor safeguard branch.
to requirements of business operation, Party A is entitled to require Party B to
work overtime after consulting with Party B. Where Party B is required to work
overtime, Party A shall accordingly arrange paid leave or overtime
pay for Party B in accordance with Party A’s relevant regulations.
B shall be entitled to the paid holidays and leaves as stipulated by
4 : Salary
probation basic monthly salary of Party B is___________RMB/Month.
A is entitled to adjust Party B’s salary in accordance with the change of Party
B’s job position
Party B works over time and has approved by Party A, he/she will be offered the
same period of compensation leave or OT salary according to Labor Law of PRC
the salary Party A pays to Party B must not be lower than the minimum wage
standards set forth by the local authorities from time to time.
A shall pay Party B salary in cash on a monthly basis.
B's salary will be reviewed annually in March and adjusted in light of Party B's
performance and prevailing conditions.
of monthly salary shall be paid on the 5th day of the next month; if meet public
holiday, it can be in advance or postponed.
Insurance and Welfare
A shall undertake to pay social insurance contributions for Party B according to
the relevant laws and regulations.
suffers from an occupational disease or work-related injury, or (female) during
her pregnant, puerperal and infant-feeding period, Party B is entitled to enjoy
the legal rights and benefits as stipulated in the State laws and government
suffers from disease or injury not suffered at work, the medical treatment and
sick leave pay enjoyed by Party B shall follow the stipulations in
the State laws and government regulations.
Protection and Working Environment
A shall provide Party B with occupational safety, healthy working conditions and
safety protective equipment and clothing conforming to the relevant provisions
of the state.
B shall during his work follow all safety rules and regulations set forth by
Party B from time to time.
B is obliged to observe all regulations and work disciplines made and amended by
B should abide by the national regulation and policy related to work discipline,
professional ethics and routine practice.
B should abide by family planning regulations as stipulated in the State laws
and government regulations.
8: The Renewal, Termination and Revocation of This Contract
both Parties wish to renew this contract, a written notice shall be given to the
other party 30 days before the expiration date of the contract. This contract
shall be renewed after consultation provided that both Parties reach an
contract shall be terminated upon expiration provided that neither party
expresses a renewal intention of the contract 30 days before the
contract shall be terminated in the occur of termination conditions stipulated
by the Law of Labor Contract
9: Economic remuneration and Medicaid
As to the
unlimited Contract, the contract may terminate if either party give 15 days’
prior written notice to the other Party. Economic remuneration shall be given to
Party B according to relevant government regulations if Party A terminates this
10: Termination formalities of the contract
and Party B may rescind the labor contract with written notice according to
Party A’s regulation and government law. Upon termination or revocation of
the contract, all the documents, files and other company belongings, which Party
B has used to perform his/her work or are at the Party B’s disposal, shall be
given back to Party A.
Settlement of Disputes
disputes arising from the execution of the contract shall be settled through
friendly consultations between both parties. In the case that no settlement can
be reached through consultations, either party may submit the dispute to
competent labor Arbitration Commission for arbitration.
recipient shall undertake the obligation to keep confidential, in accordance
with the scope and duration agreed upon by both parties, the technical secrets
contained in the technology provided by the supplier, which have not been made
basic monthly salary excludes bonus, merit pay and allowance, etc.
issues shall be settled in accordance with the laws, statutory regulations or
policies should any disagreement occur between any part of this contract and the
existing laws, statutory regulations or policies.
contract shall come in to effect on signature by Party A and Party
contract is duplicated for both Party A and Party B.
[INFORMATION FOR PURPOSES OF FILING WITH THE SECURITIES AND
OFFICERS WHO ENTERED INTO THE EMPLOYMENT
Wang, Chief Executive Officer, is paid a monthly salary of RMB 4,000,
which is approximately US$585.
Zhang, Chief Financial Officer and Corporate Secretary, is paid a monthly
salary of RMB 3900, which is approximately
Zhang, Chief Administrative Officer, is paid a monthly salary of RMB
3,500, which is approximately
Chen, Executive Vice President, is paid a monthly salary of RMB 3,800,
which is approximately US$556.