Document:

EXHIBIT 10.3

 

 

EMPLOYMENT AGREEMENT

 

	  	  	  	  	  
	  	  	
Party A (Employer)

	
  

	  
	  	  	  
	  	  	
Name: Sheng Yuan Nutritional Food Co., Ltd., Beijing R&D Center

	
  

	  
	  	  	  
	  	  	
Address: No. 106, Dongluyuan, Tongzhou District, Beijing

	
  

	  
	  	  	  
	  	  	
Party B (Employee):

	
  

	  
	  	  	  
	  	  	
Name: Joseph Chow                                        Sex: Male

	
  

	  
	  	  	  
	  	  	
ID Number:

	
  

	  

 

	  	  	  	  	  
	  	  	
Party A

	
  

	  
	  	  	  
	  	  	
Name: Sheng Yuan Nutritional Food Co., Ltd., Beijing R&D Center

	
  

	  
	  	  	  
	  	  	
Legal person: Liang Zhang

	  	  
	  	  	  	  	  
	  	  	
Address: No. 106, Dongluyuan, Tongzhou District, Beijing

	
  

	  
	  	  	  
	  	  	
Party B:

	
  

	  
	  	  	  
	  	  	
Name: Joseph Chow                              

	
  

	  
	  	  	  
	  	  	
Nationality:

	
  

	  
	  	  	  
	  	  	
ID Number:

	
  

	  
	  	  	  
	  	  	
Address:

	
  

	  
	  	  	  
	  	  	
Post code:

	
  

	  
	  	  	  
	  	  	
Address of Hu Kou:

	
  

	  

 

  

  

  

 

Adhering to the principle of voluntariness and equality and in accordance with the Labor Law of the People’s Republic of China and related regulations currently in effect, Party A and Party B hereby enter into this Agreement for joint observance in good faith.

 

I. Term of Employment Agreement

 

Article 1

 

This Agreement shall be of the type described in clause (3) below, as agreed by the Parties.

 

	
(1)

	
Fixed-term contract: The term of this Agreement shall commence on __________ and expire on __________ , among which, the probationary period shall commence on __________ and expire on                     

	
(2)

	
Contract that sets the completion of a specific task as the term to end the contract: The term of this Agreement shall commence on __________ and expire upon completion of __________ .

	
(3)

	
Contracts without a fixed term: The term of this Agreement shall commence on November 10, 2009, among which, the probationary period shall expire on N/A                

 

 

II. Job Description and Place of Performance of Employment Agreement

 

Article 2

 

Party A employs Party B on Chief Financial Officer position (type of work) as needed by its production.

 

Article 3

 

Party B shall accept Party A’s work arrangement and meet the requirement for quantity and quality set forth for his completion of the task on the position. The task and responsibility of the specific position (type of work) is as follows: As set out in Post Description and Performance Evaluation Form.

 

Article 4

 

If, as verified by Party A in its appraisal conducted pursuant to its criteria, Party B is incompetent for the position (type of work), Party A may change Party B’s position (type of work).

 

Article 5

 

Party A may change Party B’s position (type of work) upon mutual agreement of the Parties through consultation.

 

Article 6

 

The place of performance of this Agreement shall be Beijing    .

 

 

  

2

  

 

 

III. Remuneration

 

Article 7

Party A shall, on the principle of distribution according to work, pursuant to the requirements of the state, province and municipality in light of its actual condition, independently formulate its own post salary distribution system and determine the form and standard of salary payment to Party B.

 

Article 8

Party A shall pay Party B salary on a monthly basis. For the normal labor service provided by Party B to Party A within the statutory working hours, Party A shall, prior to the 10th day of each month, pay Party B salary of RMB 100,000 per month before Individual Income Tax .

 

Article 9

 

When using piecework wage system, the wage is determined by piece of work finished, on the premise that the minimum wage requirement of relevant regulations is met.

 

Article 10

 

During the performance of this Agreement, Party A may adjust Party B’s remuneration appropriately, depending on Party A’s operating condition and Party B’s performance.

 

IV. Insurance and Benefits

 

Article 11

 

Party A shall make contributions to social insurance pursuant to the regulations of the state, province and municipality and the social insurance contribution payable by Party B shall be withheld and paid by Party A on behalf of Party B.

 

Article 12

 

If Party B suffers from an illness or non-work-related injury, the matters relating to medical benefits and sick pay shall be handled in accordance with the regulations of the state, province, and municipality. Party A will make sick pay to Party B according to Attendance Rule.

 

Article 13

 

If Party B suffers from an occupational disease or work-related injury, the matters relating to medical benefits and sick pay shall be handled in accordance with the regulations of the state, province, and municipality.

 

 

  

3

  

 

 

Article 14

 

The benefits to which a female employee is entitled in her pregnancy, confinement, nursing or birth control surgery period shall be determined in accordance with the regulations of the state, province and municipality.

 

V. Amendment, Rescission, Termination and Renewal of the Employment Agreement

 

Article 15

 

Amendment, rescission, termination and renewal of the employment agreement should follow LAW OF THE PEOPLE'S REPUBLIC OF CHINA ON EMPLOYMENT CONTRACTS and other applicable laws and regulations.

 

Article 16

 

After termination of the employment agreement, Party A should help Party B to handle social security transferring and record transferring according to applicable laws and regulations.

 

Article 17

 

Party B should transfer his/her work to a person designated by Party A.

 

VI. Labor Protection, Working Conditions and Occupational Disease Protection

 

Article 18

 

Party A must provide Party B with labor safety and sanitary conditions consistent with the requirements of the state, province and municipality and necessary labor protection articles, establish and perfect labor safety and sanitation system and procedures for safe operation and production.

 

Article 19

 

Party A must set up safety production rules. Party B must strictly comply with the procedures for safe operation in the course of production (work).

 

Article 20

 

Party A shall set up anti-occupational diseases rules.

 

Article 21

 

Party A must take special labor protection measures for female employees and underage workers pursuant to the regulations of the state, province and municipality.

 

Article 22

 

The Parties shall strictly comply with the industrial accident and occupational disease reporting system adopted by the state, province and municipality.

 

 

  

4

  

 

 

VII. Working Hours, Break and Vacations

 

Article 23

 

Party A will arrange Party B to work under the standard working hour system. Party B will work a maximum of eight hours a day and on average a maximum of forty hours a week.

 

 

 

Article 24

 

Party A may arrange Party B’s working hours and rest days according to the requirement of work.

Article 25

Party B should follow Party A’s overtime arrangement when the following conditions are met:

(1) Due to natural disaster, accident or other reasons, public safety and nation’s interest are endangered.

(2) Public transportation or public facilities is destroyed and public interest is suffered.

(3) Maintenance must be carried out at public holidays or weekends.

(4) The running of the machine can not stop during the holiday.

(5) Other circumstances required by laws and regulations.

 

Article 26

 

Party A shall ensure Party B’s right to rest pursuant to the regulations of the state, province and municipality and during the term of this Agreement, Party B shall be entitled to statutory holidays and matrimonial leave, maternity leave, vacation leave as set forth by the state, province and municipality.

 

VIII. Labor Discipline

 

Article 27

 

Party A shall, in accordance with the labor laws, regulations, rules and relevant policies of the state and in light of its actual condition, formulate and perfect rules, regulations and labor disciplines. Party B shall strictly comply with the rules and regulations and labor discipline of Party A, that are formulated in accordance with law, submit to the management of Party A and treat as confidential the trade secret of Party A.

 

Article 28

 

If Party B breaches any of the rules and regulations and labor discipline of Party A, Party A may, pursuant to its rules and regulations, render disciplinary punishment or, if necessary, rescind this Agreement.

 

IX. Liability for Breach of Contract

 

Article 29

 

If Party A pays for Party B’s training courses, both parties should sign a training agreement as the exhibit of this employment agreement, with specified term of training and liabilities for breach of contract. If Party B resigns before the end of the specified term, Party B should pay Party A for compensation.

 

 

  

5

  

 

 

Article 30

 

Both parties can sign separate agreement with regard to trade secret and intellectual property, as appendix to this agreement. Party B should pay Party A for damage in violation of the Confidentiality Agreement.

 

Article 31

 

If Party B rescinds this Agreement in violation of relevant provisions or the covenant in this Agreement, it shall pay Party A for compensation of the violation.

 

X. Labor Dispute Resolution

 

Article 32

 

If any dispute arises in connection with the performance of this Agreement, either Party may apply to Party A’s labor dispute mediation committee for mediation. If the dispute can not be resolved through mediation, the Parties shall apply for arbitration to the labor dispute arbitration committee where Party A is located.

 

XI. Other Matters

 

Article 33

 

Post Description and Performance Evaluation Form and Employee Manual are appendixes to this agreement.

 

Article 34

 

This Agreement shall be filled out with fountain pen or writing brush. If altered unilaterally or signed by a person not duly authorized, this Agreement shall be void and null.

 

Article 35

 

This Agreement is executed in two counterparts which are of the same force and effect, with each Party holding one counterpart. This Agreement shall take effect on the date on which the Parties affix their signatures thereto.

 

XII. Other Matters to be Agreed Upon by the Parties

 

 

 

 

 

  

6

  

	  	  	  
	
Party A (seal)

	
  

	
Party B (signature)

	  	  
	
Legal representative (signature)

	
  

	
/s/Joseph Chow

	  	  
	
(Authorized proxy)

	
  

	  
	  	  
	
Date: November 10, 2009

	
  

	
Date: November 10, 2009

 

 

 

 7EXHIBIT
10.4

       

      EMPLOYMENT
AGREEMENT

       

      
        	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Party
      A (Employer)

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Name:
      Sheng Yuan Nutritional Food Co., Ltd., Beijing R&D
    Center

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Address:
      No. 106, Dongluyuan, Tongzhou District, Beijing

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Party
      B (Employee):

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Name:
      Donghao
      Yang                                        Sex:
      Male

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                ID
      Number: 120104197109096836

              	
                  

              	 
      

      

      

      
        	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Party
      A

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Name:
      Sheng Yuan Nutritional Food Co., Ltd., Beijing R&D
    Center

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Legal
      person: Liang Zhang

              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Address:
      No. 106, Dongluyuan, Tongzhou District, Beijing

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Party
      B:

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Name:
      Donghao
      Yang                 

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Nationality:
      China

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                ID
      Number: 120104197109096836

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Address:

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Post
      code:

              	
                  

              	 
      
	 
      	 
      	 
      
	 
      	 
      	
                Address
      of Hu Kou:

              	
                  

              	 
      

      

      

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      
 

      Adhering
to the principle of voluntariness and equality and in accordance with the Labor Law of the People’s Republic
of China and related regulations currently in effect, Party A and Party B
hereby enter into this Agreement for joint observance in good
faith.

       

      I.
Term of Employment Agreement

       

      Article
1

       

      This
Agreement shall be of the type described in clause (3) below, as
agreed by the Parties.

       

      
        	
                (1)

              	
                Fixed-term
      contract: The term of this Agreement shall commence on May 4, 2010 and
      expire on August
      31, 2011, among which, the probationary period shall commence on
                          
      and expire on                     

              

      

      

      
        	
                (2)

              	
                Contract
      that sets the completion of a specific task as the term to end the
      contract: The term of this Agreement shall commence on                     
      and expire upon completion of                     .

              

      

      

      
        	
                (3)

              	
                Contracts
      without a fixed term: The term of this Agreement shall commence on                     ,
      among which, the probationary period shall expire on                     

              

      

       

       

      II.
Job Description and Place of Performance of Employment Agreement

       

      Article
2

       

      Party A
employs Party B on Chief Financial Officer
position (type of work) as needed by its production.

       

      Article
3

       

      Party B
shall accept Party A’s work arrangement and meet the requirement for quantity
and quality set forth for his completion of the task on the position. The task
and responsibility of the specific position (type of work) is as follows: As set out in Post
Description and Performance Evaluation Form.

       

      Article
4

       

      If, as
verified by Party A in its appraisal conducted pursuant to its criteria, Party B
is incompetent for the position (type of work), Party A may change Party B’s
position (type of work).

       

      Article
5

       

      Party A
may change Party B’s position (type of work) upon mutual agreement of the
Parties through consultation.

       

      Article
6

       

      The place
of performance of this Agreement shall be Beijing    .

       

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

       

      III.
Remuneration

       

      Article
7

      Party A
shall, on the principle of distribution according to work, pursuant to the
requirements of the state, province and municipality in light of its actual
condition, independently formulate its own post salary distribution system and
determine the form and standard of salary payment to Party B.

       

      Article
8

      Party A
shall pay Party B salary on a monthly basis. For the normal labor service
provided by Party B to Party A within the statutory working hours, Party A
shall, prior to the 10th
day of each month, pay Party B salary of RMB 66,667 per month
before Individual Income Tax .

       

      Article
9

       

      When
using piecework wage system, the wage is determined by piece of work finished,
on the premise that the minimum wage requirement of relevant regulations is
met.

       

      Article
10

       

      During
the performance of this Agreement, Party A may adjust Party B’s remuneration
appropriately, depending on Party A’s operating condition and Party B’s
performance.

       

      IV.
Insurance and Benefits

       

      Article
11

       

      Party A
shall make contributions to social insurance pursuant to the regulations of the
state, province and municipality and the social insurance contribution payable
by Party B shall be withheld and paid by Party A on behalf of Party
B.

       

      Article
12

       

      If Party
B suffers from an illness or non-work-related injury, the matters relating to
medical benefits and sick pay shall be handled in accordance with the
regulations of the state, province, and municipality. Party A will make sick pay
to Party B according to Attendance
Rule.

       

      Article
13

       

      If Party
B suffers from an occupational disease or work-related injury, the matters
relating to medical benefits and sick pay shall be handled in accordance with
the regulations of the state, province, and municipality.

       

      Article
14

       

      The
benefits to which a female employee is entitled in her pregnancy, confinement,
nursing or birth control surgery period shall be determined in accordance with
the regulations of the state, province and municipality.

       

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      V.
Amendment, Rescission, Termination and Renewal of the Employment
Agreement

       

      Article
15

       

      Amendment,
rescission, termination and renewal of the employment agreement should follow
LAW OF THE PEOPLE'S REPUBLIC
OF CHINA ON EMPLOYMENT CONTRACTS and other applicable laws and
regulations.

       

      Article
16

       

      After
termination of the employment agreement, Party A should help Party B to handle
social security transferring and record transferring according to applicable
laws and regulations.

       

      Article
17

       

      Party B
should transfer his/her work to a person designated by Party A.

       

      

      VI.
Labor Protection, Working Conditions and Occupational Disease
Protection

       

      Article
18

       

      Party A
must provide Party B with labor safety and sanitary conditions consistent with
the requirements of the state, province and municipality and necessary labor
protection articles, establish and perfect labor safety and sanitation system
and procedures for safe operation and production.

       

      Article
19

       

      Party A
must set up safety production rules. Party B must strictly comply with the
procedures for safe operation in the course of production (work).

       

      Article
20

       

      Party A
shall set up anti-occupational diseases rules.

       

      Article
21

       

      Party A
must take special labor protection measures for female employees and underage
workers pursuant to the regulations of the state, province and
municipality.

       

      Article
22

       

      The
Parties shall strictly comply with the industrial accident and occupational
disease reporting system adopted by the state, province and
municipality.

       

      VII.
Working Hours, Break and Vacations

       

      Article
23

       

      Party A
will arrange Party B to work under the standard working hour system. Party B
will work a maximum of eight hours a day and on average a maximum of forty hours
a week.

       

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

       

      Article
24

       

      Party A
may arrange Party B’s working hours and rest days according to the requirement
of work.

       

      Article
25

       

      Party B
should follow Party A’s overtime arrangement when the following conditions are
met:

       

      (1) Due
to natural disaster, accident or other reasons, public safety and nation’s
interest are endangered.

       

      (2)
Public transportation or public facilities is destroyed and public interest is
suffered.

       

      (3)
Maintenance must be carried out at public holidays or weekends.

       

      (4) The
running of the machine can not stop during the holiday.

       

      (5) Other
circumstances required by laws and regulations.

       

      Article
26

       

      Party A
shall ensure Party B’s right to rest pursuant to the regulations of the state,
province and municipality and during the term of this Agreement, Party B shall
be entitled to statutory holidays and matrimonial leave, maternity leave,
vacation leave as set forth by the state, province and
municipality.

       

      VIII.
Labor Discipline

       

      Article
27

       

      Party A
shall, in accordance with the labor laws, regulations, rules and relevant
policies of the state and in light of its actual condition, formulate and
perfect rules, regulations and labor disciplines. Party B shall strictly comply
with the rules and regulations and labor discipline of Party A, that are
formulated in accordance with law, submit to the management of Party A and treat
as confidential the trade secret of Party A.

       

      Article
28

       

      If Party
B breaches any of the rules and regulations and labor discipline of Party A,
Party A may, pursuant to its rules and regulations, render disciplinary
punishment or, if necessary, rescind this Agreement.

       

      IX.
Liability for Breach of Contract

       

      Article
29

       

      If Party
A pays for Party B’s training courses, both parties should sign a training
agreement as the exhibit of this employment agreement, with specified term of
training and liabilities for breach of contract. If Party B resigns before the
end of the specified term, Party B should pay Party A for
compensation.

       

      Article
30

       

      Both
parties can sign separate agreement with regard to trade secret and intellectual
property, as appendix to this agreement. Party B should pay Party A for damage
in violation of the Confidentiality Agreement.

       

      Article
31

       

      If Party
B rescinds this Agreement in violation of relevant provisions or the covenant in
this Agreement, it shall pay Party A for compensation of the
violation.

       

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

       

       

      X.
Labor Dispute Resolution

       

      Article
32

       

      If any
dispute arises in connection with the performance of this Agreement, either
Party may apply to Party A’s labor dispute mediation committee for mediation. If
the dispute can not be resolved through mediation, the Parties shall apply for
arbitration to the labor dispute arbitration committee where Party A is
located.

       

      XI.
Other Matters

       

      Article
33

       

      Post Description and
Performance Evaluation Form and Employee Manual are
appendixes to this agreement.

       

      Article
34

       

      This
Agreement shall be filled out with fountain pen or writing brush. If altered
unilaterally or signed by a person not duly authorized, this Agreement shall be
void and null.

       

      Article
35

       

      This
Agreement is executed in two counterparts which are of the same force and
effect, with each Party holding one counterpart. This Agreement shall take
effect on the date on which the Parties affix their signatures
thereto.

       

      XII.
Other Matters to be Agreed Upon by the Parties

       

      

      
        	 
      	 
      	 
      
	
                Party
      A (seal)

              	
                  

              	
                Party
      B (signature)

              
	 
      	 
      
	
                Legal
      representative (signature)

              	
                  

              	
                /s/Donghao
      Yang

              
	 
      	 
      
	
                (Authorized
      proxy) Xuejuan Jin

              	
                  

              	 
      
	 
      	 
      
	
                Date:
      May 4, 2010

              	
                  

              	
                Date:
      May 4, 2010

              

      

       

       

      6

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