Document:

Exhibit
      10.2

    

    INDEPENDENT
      DIRECTOR’S CONTRACT

    

    THIS
      AGREEMENT (The “Agreement”) is made on the 4th day of February, 2008 and is by
      and between Sutor Technology Group Limited, (hereinafter referred to as
“Company”) and Guoyou Shao (hereinafter referred to as “Director”).

    

    BACKGROUND
      

    

    The
      Board
      of Directors of the Company desires to appoint Director to fill an existing
      vacancy and to have the Director perform the duties of independent director
      and
      Director 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, Company
      and Director hereby agree as follows:

     

    1. DUTIES.
      The
      Company requires that the Director be available to perform the duties of an
      independent director as described in the Company’s Handbook for Prospective
      Directors and such other duties 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 and board
      committee charters, each as amended or modified from time to time, and by
      applicable law, including the Nevada General Corporation Law. Director agrees
      to
      devote as much time as is necessary to perform completely the duties as Director
      of the Company, including duties as a member of the Audit Committee and such
      other committees as the Director may hereafter be appointed to. The Director
      will perform such duties described herein in accordance with the general
      fiduciary duty of Directors arising under the Nevada General Corporation Law
      and
      Chapter 78 of the Nevada Revised Statutes. 

    

    2. TERM.
      The
      term of this Agreement shall commence from the date of the Director’s
      appointment by the board of directors of the Company (in the event the Director
      is appointed to fill a vacancy) or the date of the Director’s election by the
      stockholders of the Company and shall continue 12 months. This 12-month period
      ending on the anniversary date of the Director’s appointment is a “Service
      Year.” A new yearly-termed Independent Director Agreement approved by both
      parties is required to renew this cooperation relationship between Director
      and
      Sutor Technology Group limited. 

    

    3. COMPENSATION.
      For all
      services to be rendered by Director in any capacity hereunder, the Company
      agrees to pay Director a fee of RMB 120,000 in cash during this Service Year,
      paid quarterly. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4. EXPENSES.
      In
      addition to the compensation provided in paragraph 3 hereof, the Company will
      reimburse Director for pre-approved reasonable business related expenses
      incurred in good faith in the performance of Director’s duties for the Company.
      Such payments shall be made by the Company upon submission by the Director
      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 Director each acknowledge that, in order for the intents and
      purposes of this Agreement to be accomplished, Director 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”). Director 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 and for a period of twelve (12) months following the Director’s removal
      or resignation from the Board of Directors of the Company or any of its
      Subsidiaries or Affiliates (the "Restricted Period"), the Director 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 Director’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 Director may hold, directly or indirectly, solely as an investment, not
      more
      than one percent (1%) 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 Director are forbidden to terminate this
      Agreement during the service year by this contact. 

    

    8. INDEMNIFICATION.
      The
      Company shall indemnify, defend and hold harmless Director, 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 (including,
      without limitation, the Indemnification Agreement executed herewith), vote
      of
      stockholders or disinterested directors or otherwise, both as to action in
      Director’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.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    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 86-512-52687771.

     

    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 Director under this Agreement are personal and therefore
      Director 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 within 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]

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties hereto have caused this Independent Director’s
      Contract to be duly executed and signed on the day and year above
      written.

    

    

      
        	
                SUTOR TECHNOLOGY GROUP LIMITED

              
	 
	
                BY:

              	
                /s/
                  Liuhua Guo

              
	
                 

              	
                Name:
                  Liuhua Guo

              
	
                 

              	
                Title:
                  Chief Executive Officer

              
	 
	
                INDEPENDENT DIRECTOR

              
	 
	
                BY:

              	
                /s/
                  Guoyou Shao

              
	 	
                Guoyou
                  ShaoExhibit
      10.3

    

    INDEPENDENT
      DIRECTOR’S CONTRACT

    

    THIS
      AGREEMENT (The “Agreement”) is made on the 4th day of February, 2008 and is by
      and between Sutor Technology Group Limited, (hereinafter referred to as
“Company”) and Xinchuang Li (hereinafter referred to as
“Director”).

    

    BACKGROUND
      

    

    The
      Board
      of Directors of the Company desires to appoint Director to fill an existing
      vacancy and to have the Director perform the duties of independent director
      and
      Director 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, Company
      and Director hereby agree as follows:

     

    1. DUTIES.
      The
      Company requires that the Director be available to perform the duties of an
      independent director as described in the Company’s Handbook for Prospective
      Directors and such other duties 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 and board
      committee charters, each as amended or modified from time to time, and by
      applicable law, including the Nevada General Corporation Law. Director agrees
      to
      devote as much time as is necessary to perform completely the duties as Director
      of the Company, including duties as a member of the Audit Committee and such
      other committees as the Director may hereafter be appointed to. The Director
      will perform such duties described herein in accordance with the general
      fiduciary duty of Directors arising under the Nevada General Corporation Law
      and
      Chapter 78 of the Nevada Revised Statutes. 

    

        2. TERM.
      The
      term of this Agreement shall commence from the date of the Director’s
      appointment by the board of directors of the Company (in the event the Director
      is appointed to fill a vacancy) or the date of the Director’s election by the
      stockholders of the Company and shall continue 12 months. This 12-month period
      ending on the anniversary date of the Director’s appointment is a “Service
      Year.” A new yearly-termed Independent Director Agreement approved by both
      parties is required to renew this cooperation relationship between Director
      and
      Sutor Technology Group limited. 

    

    3. COMPENSATION.
      For all
      services to be rendered by Director in any capacity hereunder, the Company
      agrees to pay Director a fee of RMB 120,000 in cash during this Service Year,
      paid quarterly. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4. EXPENSES.
      In
      addition to the compensation provided in paragraph 3 hereof, the Company will
      reimburse Director for pre-approved reasonable business related expenses
      incurred in good faith in the performance of Director’s duties for the Company.
      Such payments shall be made by the Company upon submission by the Director
      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 Director each acknowledge that, in order for the intents and
      purposes of this Agreement to be accomplished, Director 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”). Director 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 and for a period of twelve (12) months following the Director’s removal
      or resignation from the Board of Directors of the Company or any of its
      Subsidiaries or Affiliates (the "Restricted Period"), the Director 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 Director’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 Director may hold, directly or indirectly, solely as an investment, not
      more
      than one percent (1%) 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 Director are forbidden to terminate this
      Agreement during the service year by this contact. 

    

    8. INDEMNIFICATION.
      The
      Company shall indemnify, defend and hold harmless Director, 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 (including,
      without limitation, the Indemnification Agreement executed herewith), vote
      of
      stockholders or disinterested directors or otherwise, both as to action in
      Director’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.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    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 86-512-52687771.

     

    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 Director under this Agreement are personal and therefore
      Director 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 within 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]

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Independent Director’s
      Contract to be duly executed and signed on the day and year above
      written.

    

    

    
      	 	
              SUTOR
                TECHNOLOGY GROUP LIMITED

            
	 	 
	 	
              BY:
                

            	
              /s/
                Liuhua Guo

            
	 	 	
              Name:
                Liuhua Guo

            
	 	 	
              Title:
                Chief Executive Officer

            
	 	 
	 	 
	 	
              INDEPENDENT
                DIRECTOR

            
	 	 
	 	
              BY:
                

            	
              /s/
                Xinchuang Li

            
	 	 	
              Xinchuang
                Li

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