Translation of Employment Agreement with Jianming Wu
Exhibit 10.4
Translation of Employment Agreement with Xxxxxxxx Xx
Party A: Zhejiang Forest Energy Tech Ltd.
Party B: Xx Xxxxxxxx
Effective: 2011-02-25
Position: General Manager, Capacitance Carbon Sector
Salary for the trial period: 15,000 yuan, other subsidies will follow Company policy. Increases or decreases of the salary, bonus, overtime compensation, etc. of Xx. Xx will be implemented according to applicable law.
Terms for amending or terminating the Agreement:
1. The Agreement may be amended upon the occurrence of the following: (i) the Company’s converting and adjusting of the production task prevents the continuation of the Agreement; (ii) Xx. Xx is determined not competent for the position after a Company evaluation; and (iii) the Agreement cannot be performed due to force majeure or other law, regulations or polices.
The Company shall not require Xx. Xx to perform tasks beyond what is required in the Agreement unless: a natural disaster or accidents affects the Company’s normal operations, or the Company’s operating conditions require a temporary job transfer within the Company.
2. Termination of the Agreement by the Company: (i) Xx. Xx’x failure of a Company evaluation during the trial period; (ii) Xx. Xx seriously violates the regulations or company policies of the Company; (iii) Xx. Xx’x dereliction of duty causes major damages for the Company; or (iv) Xx. Xx is convicted of a crime.
Under the following circumstances the Company needs to provide written notice to Xx. Xx prior to terminating the Agreement: (i) due to Xx. Xx’x health condition, he cannot continue to perform his job; (ii) Xx. Xx shows incompetence even after extra training or a job transfer; (iii) any condition precedent that the Agreement was based on doesn’t exist anymore and an agreement cannot be reached to change the terms of the Agreement; (iv) the Company files for bankruptcy or is in the process of filing for bankruptcy; and (v) the Company’s operating condition reaches the government’s standards of “Enterprises in Operation Difficulty.”
Under the following circumstances the Company may not terminate the Agreement: (i) prior to the expiration of the Agreement’s term; (ii) occupational hazards or work related injuries prevent Xx. Xx from working; (iii) Xx. Xx is forced to recover from a work related injury; or (iv) Xx. Xx is on paternity leave.
Under the following circumstances Mr. Xx xxx terminate the Agreement: (i) at any time during the trial period; (ii) he is physically forced by the Company to perform the job; (iii) he is not paid pursuant to the terms of the Agreement; or (iv) the Company’s poor work conditions causes Xx. Xx health problems.
Under the following circumstances Xx. Xx may terminate the Agreement upon 30 days’ notice to the Company: (i) with Company’s prior consent, (ii) upon Xx. Xx’x acceptance to an academic program; (iii) Xx. Xx has legitimate reasons for a reasonable job flow; or (iv) Xx. Xx decides to relocate outside of China.
Under the following circumstances Xx. Xx may not terminate the Agreement: (i) he is the lead responsible person for a major technology research project, major construction project and the projects have not yet been completed; (ii) during the term of confidentiality, (iii) Xx. Xx is involved in confidential assignments; (iv) Xx. Xx is under an ongoing criminal investigation; or (v) Xx. Xx is under Company probation.
The Agreement can be terminated with both parties’ consent without violating the nation’s and the society’s interest.
If needed, the Agreement may be renewed.
Social insurance and welfare:
Both parties will participate in pension insurance. The Company will pay for Xx. Xx’x insurance for work-related injuries, and will follow applicable law regarding health insurance.
Xx. Xx will be entitled to vacations, family visit, bereavement, and maternal leaves.
Responsibility for breaching the Agreement: any party that breaches the Agreement shall take full lawful responsibility; no party shall bear any responsibility if it is a force majeure that causes the termination of the Agreement; and any party who causes loss to the other party will pay compensation accordingly.
Other terms:
Xx. Xx shall be subject to confidentiality restrictions.
Both parties agree that the labor compensation indicated in this Agreement includes Non-compete compensation.
Any disputes between two parties can be brought up to the Arbitration Commission or even to the People’s Court.
Xx. Xx’x travel for study abroad, visits or oversea exhibits will be paid by the Company and Xx. Xx shall serve the Company for at least two years after returning from such trips before leaving his employment or Xx. Xx is required to reimburse the Company for training costs.
The Agreement was signed on 2011-02-25.
