China Information Security Technology, Inc.: Exhibit 10.29 - Filed by newsfilecorp.com






CHINA INFORMATION SECURITY TECHNOLOGY, INC. 
OFFICER
EMPLOYMENT AGREEMENT 

THIS AGREEMENT (The “Agreement”) is made as of the
August 11, 2009, and is by and between China Information Security Technology,
Inc. (formerly as “China Public Security Technology, Inc.), a Nevada corporation
(hereinafter referred to as the “Company”), and Jackie You Kazmerzak
(hereinafter referred to as the “CFO)”.

BACKGROUND 

The Board of Directors of the Company desires to appoint Jackie
You Kazmerzak as its Chief Financial Officer (“CFO”) to fill an existing vacancy
and to have Ms. Kazmerzak perform the duties of the CFO and Ms. Kazmerzak
desires to be so appointed for such position and to perform the duties required
of such position in accordance with the terms and conditions of this Agreement.


AGREEMENT 

In consideration for the above recited promises and the mutual
promises contained herein, the adequacy and sufficiency of which are hereby
acknowledged, the Company and the CFO hereby agree as follows: 

1. 

 DUTIES. The Company requires that Ms.
Kazmerzak be available to perform the duties of Chief Financial Officer
customarily related to this function as may be determined and assigned by the
Board of Directors of the Company and as may be required by the Company’s
constituent instruments, including its certificate or articles of incorporation,
bylaws and its corporate governance, each as amended or modified from time to
time, and by applicable law, including the Nevada Business Corporation Act (the
“Act”). Ms. Kazmerzak agrees to devote as much time as is necessary to perform
completely the duties as the CFO of the Company.

2. 

 TERM. The term of this Agreement shall
commence as of the date of the CFO’s appointment by the Board of Directors of
the Company and shall continue until the CFO’s removal or resignation. 

3. 

 COMPENSATION. For all services to be rendered
by the CFO in any capacity hereunder, the Company agrees to pay the CFO a fee of
RMB 30,000 per month. Such fee may be adjusted from time to time as agreed by
the parties. In addition, performance-based compensation to the CFO is to be
assessed and awarded at the end of each fiscal year. Such compensation can
include both cash bonus and restricted stock awards. 

4. 

 EXPENSES. In addition to the compensation
provided in paragraph 3 hereof, the Company will reimburse the CFO for
pre-approved reasonable business related expenses incurred in good faith in the
performance of the CFO’s duties for the Company. Such payments shall be made by
the Company upon submission by the CFO of a signed statement itemizing the
expenses incurred. Such statement shall be accompanied by sufficient documentary
matter to support the expenditures. 




5. 

 CONFIDENTIALITY. The Company and the CFO each
acknowledge that, in order for the intents and purposes of this Agreement to be
accomplished, the CFO shall necessarily be obtaining access to certain
confidential information concerning the Company and its affairs, including, but
not limited to business methods, information systems, financial data and
strategic plans which are unique assets of the Company (“Confidential
Information”). The CFO covenants not to, either directly or indirectly, in
any manner, utilize or disclose to any person, firm, corporation, association or
other entity any Confidential Information. 

6.


 NON-COMPETE. During the term of this Agreement
and for a period of twelve (12) months following the CFO’s removal or
resignation from the Board of Directors of the Company or any of its
subsidiaries or affiliates (the “Restricted Period”), the CFO shall not,
directly or indirectly, (i) in any manner whatsoever engage in any capacity with
any business competitive with the Company’s current lines of business or any
business then engaged in by the Company, any of its subsidiaries or any of its
affiliates (the “Company's Business”) for the CFO’s own benefit or for
the benefit of any person or entity other than the Company or any subsidiary or
affiliate; or (ii) have any interest as owner, sole proprietor, shareholder,
partner, lender, director, officer, manager, employee, consultant, agent or
otherwise in any business competitive with the Company's Business;
provided, however, that the CFO may hold, directly or indirectly,
solely as an investment, not more than two percent (2%) of the outstanding
securities of any person or entity which are listed on any national securities
exchange or regularly traded in the over-the-counter market notwithstanding the
fact that such person or entity is engaged in a business competitive with the
Company's Business. In addition, during the Restricted Period, the Director
shall not develop any property for use in the Company’s Business on behalf of
any person or entity other than the Company, its subsidiaries and affiliates.


7.   

TERMINATION. With or without cause, the Company and
the CFO may each terminate this Agreement at any time upon ten (10) days written
notice, and the Company shall be obligated to pay to the CFO the compensation
and expenses due up to the date of the termination. Nothing contained herein or
omitted herefrom shall prevent the shareholder(s) of the Company from removing
the CFO with immediate effect at any time for any reason. 

8.  

INDEMNIFICATION. The Company shall indemnify, defend
and hold harmless the CFO, to the full extent allowed by the law of the State of
Nevada, and as provided by, or granted pursuant to, any charter provision, bylaw
provision, agreement, vote of stockholders or disinterested directors or
otherwise, both as to action in the CFO’s official capacity and as to action in
another capacity while holding such office.

9. 

 EFFECT OF WAIVER. The waiver by either party
of the breach of any provision of this Agreement shall not operate as or be
construed as a waiver of any subsequent breach thereof. 

10. 

 NOTICE. Any and all notices referred to
herein shall be sufficient if furnished in writing at the addresses specified on
the signature page hereto or, if to the Company, to the Company’s address as
specified in filings made by the Company with the U.S. Securities and Exchange
Commission and if by fax to 86-755-83709333. 

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11. 

 GOVERNING LAW. This Agreement shall be
interpreted in accordance with, and the rights of the parties hereto shall be
determined by, the laws of the State of Nevada without reference to that state’s
conflicts of laws principles. 

12. 

 ASSIGNMENT. The rights and benefits of the
Company under this Agreement shall be transferable, and all the covenants and
agreements hereunder shall inure to the benefit of, and be enforceable by or
against, its successors and assigns. The duties and obligations of the CFO under
this Agreement are personal and therefore the CFO may not assign any right or
duty under this Agreement without the prior written consent of the Company. 

13. 

 MISCELLANEOUS. If any provision of this
Agreement shall be declared invalid or illegal, for any reason whatsoever, then,
notwithstanding such invalidity or illegality, the remaining terms and
provisions of the this Agreement shall remain in full force and effect in the
same manner as if the invalid or illegal provision had not been contained
herein. 

14. 

 ARTICLE HEADINGS. The article headings
contained in this Agreement are for reference purposes only and shall not affect
in any way the meaning or interpretation of this Agreement. 

15. 

 COUNTERPARTS. This Agreement may be
executed in any number of counterparts, all of which taken together shall
constitute one instrument. Facsimile execution and delivery of this Agreement is
legal, valid and binding for all purposes. 

16. 

 ENTIRE AGREEMENT. Except as provided
elsewhere herein, this Agreement sets forth the entire agreement of the parties
with respect to its subject matter and supersedes all prior agreements,
promises, covenants, arrangements, communications, representations or
warranties, whether oral or written, by any officer, employee or representative
of any party to this Agreement with respect to such subject matter. 

[Signature Page Follows]

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IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed and signed as of the day and year first above
written. 

China Information Security
Technology, Inc. 

BY: /s/ Jiang Huai
Lin               
 
Jiang Huai Lin 
Chairman and Chief Executive Officer 

Chief Financial Officer 

                                                         
Jackie You Kazmerzak
Address: 21F, Everbright Bank Bldg.,

Zhuzilin, Futian District, Shenzhen, 518040 
China