Exhibit 10.4


 


Translation of Employment Agreement with
Jianming Wu


 


Party A: Zhejiang Forest Energy Tech
Ltd.


 


Party B: Wu Jianming


 


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 Mr.
Wu 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) Mr. Wu 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 Mr. Wu 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) Mr. Wu’s failure of a Company evaluation during the trial period; (ii) Mr. Wu seriously violates
the regulations or company policies of the Company; (iii) Mr. Wu’s dereliction of duty causes major damages for the Company;
or (iv) Mr. Wu is convicted of a crime.


 


Under the following circumstances
the Company needs to provide written notice to Mr. Wu prior to terminating the Agreement: (i) due to Mr. Wu’s health condition,
he cannot continue to perform his job; (ii) Mr. Wu 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 Mr. Wu from working; (iii) Mr. Wu is forced to recover from a work related injury; or (iv) Mr.
Wu is on paternity leave.


 


Under the following circumstances
Mr. Wu can 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 Mr.
Wu health problems.


 






    	 



    	 



    

 


Under the following circumstances
Mr. Wu may terminate the Agreement upon 30 days’ notice to the Company: (i) with Company’s prior consent, (ii) upon
Mr. Wu’s acceptance to an academic program; (iii) Mr. Wu has legitimate reasons for a reasonable job flow; or (iv) Mr. Wu
decides to relocate outside of China.


 


Under the following circumstances
Mr. Wu 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) Mr. Wu is involved in confidential
assignments; (iv) Mr. Wu is under an ongoing criminal investigation; or (v) Mr. Wu 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 Mr. Wu’s insurance for work-related injuries, and will follow applicable law regarding health insurance.


 


Mr. Wu 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:


 


Mr. Wu 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.


 


Mr. Wu’s travel for study abroad, visits
or oversea exhibits will be paid by the Company and Mr. Wu shall serve the Company for at least two years after returning from
such trips before leaving his employment or Mr. Wu is required to reimburse the Company for training costs.


 


The Agreement was signed on 2011-02-25.