Document:

ex10-1.htm

    
 

     

    Exhibit
10.1

     

    
      	
              Hong
      Kong Winalite Group, Inc.

               

              Rooms
      606, 6th Floor, Ginza Plaza, No. 2A Sai Yeung Choi Street South, Kowloon,
      Hong Kong

            

    

     

    Jan 1,
2009

     

     

    Dear Dr. Hongxiang Gao
,

     

     

    We have the
pleasure to offer you the position of   
Director and CEO   with Hong Kong Winalite Group, Inc.
('the Company') commencing on   Jan 1st,
2009    .

     

     

    This letter will
serve as your letter of employment with the following terms and
conditions:

     

     

    1.  Probation
Period

     

     

    Your probation
period will be normally   1 month 
. The Company may confirm your employment after assessment of your job
performance during or right after the probation period. A separate notification
letter for confirmation will be issued.

     

     

    2.  Compensation

     

     

    Base Salary:
   HKD
100,000     per month payable by
10th
of the following month.

     

     

    3.  Staff
Benefit

     

     

    You will be
entitled to join the Staff Benefit Plans according to your years of service
and/or the pre-assigned criteria by the Company. The details of the benefit
plans will be stated in the Employment Handbook or relevant
booklet(s)/information which passed to you separately. The Company may review or
amend the benefit plans from time to time at its discretion and will keep you
informed by Human Resources Team if any change(s).

     

     

    4.  Resignation/Termination of
Employment

     

     

    During the first
week of your probation period, your employment could be terminated at any time
by the Company or by you without written notice or payment in lieu. After the
first week of your probation period and before employment confirmation, seven days' written
notice or payment in lieu is required by either parties in case of
termination of employment. Upon confirmation and an official letter being
issued, the employment could be terminated by either parties by   1 
 month(s) written notice or payment in lieu.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The Company may
at any time terminate this Agreement without notice or payment in lieu if 
you:

     

    
      	 	
              ·

            	
              Willfully
      disobey a lawful and reasonable order of the Company;

            
	 	 	 
	 	
              ·

            	
              Act in
      serious, willful or persistent breach of your responsibilities or
      Company's policies;

            
	 	 	 
	 	
              ·

            	
              Are guilty
      of fraud, dishonesty or any criminal act or act made a false statement in
      your application for employment;

            
	 	 	 
	 	
              ·

            	
              Are guilty
      of misappropriation of Company funds;

            
	 	 	 
	 	
              ·

            	
              Is
      habitually late or absent without permission and unable to give a
      satisfactory explanation or overstays leave without
      permission;

            
	 	 	 
	 	
              ·

            	
              Become
      bankrupt or makes any arrangements or composition with your creditors or
      becomes of unsound mind or permanently incapacitated from performing your
      duties;

            
	 	 	 
	 	
              ·

            	
              Has other
      employment that has not been disclosed to the Company in circumstances
      that are detrimental to the interests of the
  Company.

            

    

     

    5.  Confidentiality

     

     

    Your attention is
drawn to the confidential nature of the Company's business and at all times you
are required to maintain such confidentially. During this Agreement or at any
time thereafter without the consent in writing of the Company being first
obtained, you shall not use for your own account or divulge to any person, firm
or company any information concerning the business, products, know-how,
technology, accounts, finances, clients or customers of the Company or any of
the secrets, dealings, transactions or affairs of the Company and upon
termination of this Agreement, you shall surrender to the Company all original
and copy documents, files, letters, computer files, samples or other items
relation to any matter aforesaid.

     

     

    6.  Exclusion From Other
Business

     

     

    You must not
during your employment with the Company directly or indirectly engage or concern
in the conduct of any business other than the Company's business unless an
advanced written consent by the Company.

     

     

    7.  Conflict of
Interest

     

     

    Whilst under the
Company's employment, you may not associate in the business with Winalite
distributors nor hold a distributorship with Winalite. You may not be associated
as an advisor for other Multi-Level Marketing Companies. Should you already hold
a distributorship with other Multi-Level Marketing Companies, you must disclose
this interest to the Company. A conflict of interest, which is deliberate or
pursued knowingly, is regarded as serious misconduct and may result in summary
dismissal.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    8.  Rules &
Regulations

     

     

    In addition to
the terms and conditions in this letter, you shall observe and abide by all
other existing rules and regulations of the Company, including any addition and
revision as laid down by the Company form time to time.

     

     

    9.  Modification of
Terms

     

     

    Any terms of the
Agreement may be modified by the mutual agreement of the parties and / or by any
change in the standard Company's Rules and Regulations applicable to you during
your employment with the Company.

     

     

    10.  Applicable
Law

     

     

    The contract of
employment shall be subject to the laws of Hong Kong. Any dispute concerning the
contract shall be submitted to the competent Hong Kong court to the exclusion of
all other jurisdictions.  

     

     

    Please sign the
original copies of this letter and return one copy to the Company indicating
your acceptance of this offer.

     

     

    Yours
Sincerely,

     

     

    Hong
Kong Winalite Group, Inc.

     

     

    /s/ Jingjun
Hu

    ___________________________________

    Representative:
Jingjun Hu

     

     

    Agreed
and accepted by:

     

     

    /s/ Hongxing
Gao

    ___________________________________

    Hongxing
GaoExhibit 10.1 (W0195827).DOC

Exhibit 10.1

Wausau Paper Corp.

2009 Equity Incentive Compensation Plan

A portion of each individual officer’s grant, referred to below as the “Retention Award,” will vest upon meeting certain criteria relating to continued employment with the Company.  The remaining portion of the grant, referred to below as the “Performance Incentive,” will vest upon meeting both performance and continued employment criteria.  The maximum potential award for the CEO, chief financial officer, and each of the other named executive officers is described in the “Total Opportunity” column below.

				
	 
	Restricted Stock or Performance Units Granted

	 
	Retention Award*

	Maximum 

Performance Incentive**

	Total Opportunity

	 
	 
	 
	 

	CEO

	18,132

	54,397

	72,529

	 
	 
	 
	 

	Executive Vice President–Finance

	5,984

	17,951

	23,935

	 
	 
	 
	 

	Senior Vice President, Towel & Tissue

	4,488

	14,959

	19,447

	 
	 
	 
	 

	Senior Vice President, Specialty Products

	4,420

	14,733

	19,153

	 
	 
	 
	 

	Senior Vice President, Printing & Writing

	4,107

	13,690

	17,797

   *The Retention Award is a grant of restricted stock equal to 25% of base salary, which vests based on continuous employment with the Company (in the same position or in a position with greater authority) through January 5, 2011.

**The Performance Incentive is a grant of performance units equal to a specified percentage of base salary.  These performance units may vest and be converted to a right to receive common stock (or, in the Compensation Committee’s discretion, cash with an equivalent value) based on (1) continuous employment with the Company (in the same position or in a position with greater authority) through January 5, 2011; and (2) the Company’s achieving levels of Return on Capital Employed (“ROCE”) ranging from 3% ROCE to 13% ROCE.  For purposes of this plan, ROCE is determined by excluding base gains from timberland sales and adjusting for other extraordinary items (which may include, for example, facility closure charges, one-time expenses associated with certain major capital projects, or other similar items).  No shares of common stock or cash will be awarded if earnings are at the bottom of the targeted range of ROCE, and the number of shares of common stock or cash awarded will increase on a pro rata basis to the maximum potential award if ROCE is at the top of the targeted range.Exhibit 10.2 (W0195830).DOC

Exhibit 10.2

Wausau Paper Corp.

2009 Cash Incentive Compensation Plan

For

Executive Officers

Executive officers are entitled to receive cash incentive compensation with respect to each fiscal year upon achievement of targeted company or personal objectives.  Executive officers are entitled to receive incentive compensation based upon:

(1)

the level of achievement by the Company of targeted goals for adjusted earnings per share, as derived from targeted return on capital employed; 

(2)

for executive officers with direct segment operating responsibility, achievement of targeted segment operating profit targets; and

(3)

the level of achievement of specified quantifiable bottom-line oriented targets and specific operational or strategic goals including (a) strategic market direction, (b) new products margins and revenue levels, (c) increase in operating efficiencies, (d) internal rate of return on approved capital spending, (e) volume growth and product mix, (f) working capital levels, (g) volume of sales of timberlands, (h) objectives for cost reduction or containment, and (i) various objectives for organizational development.

The following table sets forth, as a percentage of base salary, the maximum incentive compensation opportunity for executive officers.

									
	 
	 
	Segment

	Individual

	 

	 
	Earnings Per Share(1)

	Operating Profits(2)

	Objectives(3)

	Total

	 
	 
	 
	Targeted

	 
	 
	 

	 
	Targeted

	Max.

	Range of

	Max.

	Max.

	Max.

	 
	Range of

	% of

	Operating

	% of

	% of

	% of

	 
	    EPS    

	Salary

	   Profits   

	Salary

	Salary

	Salary

	 
	 
	 
	 
	 
	 
	 

	CEO

	$.03–$.68

	120%

	–

	–

	30%

	150%

	 
	 
	 
	 
	 
	 
	 

	Executive Vice President–Finance

	$.03–$.68

	95%

	–

	–

	30%

	125%

	 
	 
	 
	 
	 
	 
	 

	Senior Vice President, Towel & Tissue

	$.03–$.68

	25%

	$ 33–53 M

	50%

	25%

	100%

	 
	 
	 
	 
	 
	 
	 

	Senior Vice President, Specialty Products

	$.03–$.68

	25%

	$   0–22 M

	50%

	25%

	100%

	 
	 
	 
	 
	 
	 
	 

	Senior Vice President, Printing & Writing

	$.03–$.68

	25%

	$ (1)–20 M

	50%

	25%

	100%

(1)  For purposes of this plan, “earnings per share” means earnings per share as reported in the Company’s audited financial statements, excluding the impact of stock incentive expenses or credits, decreased by amounts representing base gains from timberland sales, and adjusted for other extraordinary items (which may include, for example, facility closure charges, nonrecurring state tax benefits, one-time expenses associated with certain major capital projects, or other similar items) as determined in the discretion of the Compensation Committee.  

Incentive bonuses will be 0% of base salary if earnings are at the bottom of the targeted range of earnings per share and will increase on a pro rata basis to the officer’s maximum of percentage of base salary at the top of the targeted range.  

(2)  For purposes of this plan, “operating profits” means the segment operating profits as reported in connection with the Company’s audited financial statements adjusted for other extraordinary items (which may include, for example, facility closure charges, one-time expenses associated with certain major capital projects, or other similar items) as determined in the discretion of the Compensation Committee.  Incentive bonuses are 0% of base salary if operating profits are at the bottom of the targeted range for the officer’s respective operating segment’s targeted operating profit and increase on a pro rata basis to the officer’s maximum percentage of base salary at the top of the targeted range.

(3)  Individual performance objectives are approved at the beginning of the year by the Compensation Committee.

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