Document:

dragon_ex1015.htm

    Exhibit
      10.15

     

     

    Employment
      Agreement

    

    Employer
      Name: Ningbo Dragon International Trading Co., Ltd.

    Employee
      Name: David Wu

    Stamped
      by Ningbo Bureau of Labor and Social Security

    

    Employer
      Information

    

    Name:
      Ningbo Dragon International Trading Co., Ltd.

    Address:
      No. 201, Guangyuan Road, District C, Investment Pioneering Park Jiangbei,
      Ningbo, China

    Ownership
      Type: Foreign-owned enterprise

    Legal
      Representative: David Wu

    

    Employee
      Information

    Name:
      David Wu

    Gender:
      Male

    Education:
      Bachelor Degree

    ID
      #:
      330203700701241

    Home
      Address: 15A Furongge Unit, Central Garden, Ningbo City, China

    

    Article
      1. Agreement Period

    

    This
      employment agreement commences from January 1, 2007 and expires on December
      31,
      2011.

    

    Article
      2. Job Category

    

    The
      employee is engaged in the function of company management.

    

    Article
      3. Compensation

    

    The
      employee is paid a base salary of RMB10,000 monthly (approximately $ 1,321)
      in
      cash.

    

    The
      employee is entitled to bonus, overtime compensation, and allowance. The amount
      is determined at strict discretion of management.

    

    Article
      4. Working Hour

    

    The
      employee works in a fix working schedule. The employee has at least one day
      off
      every week. The employee should not work overtime more than one hour daily.
      When
      it is necessary, the employee works overtime for longer hours but not more
      than
      three hours daily. The employee should not work overtime more than 36 hours
      totally per month.

    

    The
      employee is entitled to annual vacation granted by state and provincial (local)
      government.

    

    

      

        
        

      

      

        
        

        

          

      

      

        
        

      

    

    Article
      5. Agreement Termination

    

    This
      employment agreement is terminated under either of the following
      circumstances:

    

      	

               

            	

              1.

            	

              The
                agreement is expired or the agreed-on circumstance resulting in
                termination occurs.

            

    

    

      	

               

            	

              2.

            	

              Retirement
                of the employee.

            

    

    

      	

               

            	

              3.

            	

              Death
                of the employee.

            

    

    

    Article
      6. Agreement Renewal

    

    At
      least
      on thirty days before expiration, the employer should give the employee the
      written notification of the intention to renew or terminate employment. If
      both
      parties agree to renew the agreement, the related paperwork should be completed
      before the current agreement expires.

    

    Article
      7. Labor Dispute

    

    If
      labor
      dispute occurs between the employer and the employee, both parties should
      negotiate or apply to the company’s labor dispute mediation committee for
      solution. If the dispute still cannot be resolved, the parties can apply to
      the
      company’s labor dispute arbitration committee for settlement.

    

    

    Signature

    

    Representative
      of the Employer: Kejia Zhang

    

    /s/
      Kejia
      Zhang

    

    The
      Employee: David Wu

    /s/
      David
      Wu

    

    

    Signing
      Date: January 1, 2007dragon_ex1016.htm

    Exhibit
      10.16

     

    LEASE
      AGREEMENT

    

    

    Lessor:
      (hereinafter referred to as party A)  Shanghai Shenfa
      Mechanical Manufacturing Company

    Lessee:
      (hereinafter referred
      to as party B)  Shanghai
      JinKui Packaging Material
      Co., Ltd.

    

    Article
      1.  The Leased Area and Usage

    The
      Lessor shall lease to the Lessee
      and the Lessee shall lease from the Lessor the No. 1555 Hengnan Road, Pujiang
      High-tech Park, Shanghai, China, 201114. The leased area is specified below:
      The
      manufacturing facility is 19,428 square feet (approximately 1,801.94
      square meters) and the adjacent ground is 10,440 square feet (approximately
      970
      square meters). The Lessee uses the leased area to manufacture packaging
      materials.

    

    Articles
      2.  Lease Term

    The
      Lease
      Agreement shall be effective for ten year (including one year before this
      agreement is signed), commencing from March 10, 2004 and ending on March 9,
      2014. If the leased area cannot meet the demand of production expansion before
      the lease term expires, the lessee should notice the lessor half a year in
      advance before terminating the lease in order to avoid penalty. If the lessee
      and the lessor want to renew the lease term, both parties should negotiate
      the
      terms three months before expiration.

    

    Article
      3. Rent

    The
      daily
      rents for manufacturing facility and the adjacent ground are respectively RMB
      0.50 and RMB 0.10 per square meter. In total, the annual rent is $48,129
      (RMB363,900) from March 2004 to February 2007. From March 2007 to February
      2010,
      the rent increases to $51,977 (RMB 393,000). From March 2010 to February 2012,
      the rent becomes $56,712 (RMB 428,800). From March 2012 till expiration, the
      rent will be $62,383 (RMB 471,680).

    

    Articles
      3. Payment of rent

    Within
      one week since the lease agreement takes into effect, the lessee pays the rent
      for the first half year. In the sixth month since the lease commence date,
      the
      lessee pays the rent for the second half year.

    

    If
      the
      lessee cannot pay the lessor the rent or water expense or electrical expense
      on
      time, the lessor has the right to terminate water and/or electrical supply.
      The
      lessor is not responsible for any consequence herewith.

    

    Article
      4. Other Expenses

    The
      lessee requests the lessor to expend the capacity of 250KV switching equipments.
      The lessor prepays the fee for expansion application and related expenses for
      installation. The lessee pays the lessor a one-time fee of $5,023 (RMB38,000)
      to
      compensate the expansion service. The lessor owns the switching equipments
      and
      the lessee is entitled to use the equipments till the lease
      expires.

    

    Article
      5. Termination of Lease Agreement

    Except
      out of the act of God, neither party can terminate the agreement without the
      consent of the counterpart. If the lessee delays payment of rent or other
      expenses, the lessee should pay the lessor 50% of the balance as
      penalty.

    

    

      

        
        

      

      

        
        

        

          

      

      

        
        

      

    

    Article
      6. Dispute Resolution

    All
      disputes between the Lessor and Lessee shall be settled by negotiation, if
      can
      not be resolved through negotiation, the dispute shall be submitted to the
      authorized Arbitration Commission or the People's Court in the area where the
      facility is located.

    

    Article
      7. Effectiveness

    This
      agreement shall be effective immediately upon signing and sealing by the Lessor
      and Lessee.

    

    

    Lessor:
      Shanghai Shenfa Mechanical Manufacturing Company

    /s/
      Anliang
      Shen

    Date:     March
      10, 2005

    

    Lessee:
      Shanghai JinKui Packaging Material Co., Ltd.

    /s/ Feng
      Yang

    Date:    March
      10, 2005EX-10.1

AMENDED AND RESTATED

EMPLOYMENT AGREEMENT

THIS AMENDED AND RESTATED AGREEMENT is made effective as of August 1, 2007 by and between John
D. Johnson (hereafter “Johnson”) and CHS Inc., a Minnesota cooperative corporation (together with
all affiliates, the “Company”). This Agreement amends and restates that certain Employment
Agreement effective as of September 1, 2003 between Johnson and the Company.

	1.	 	Employment

The Company hereby agrees to and does hereby employ Johnson as its Chief Executive Officer,
and Johnson hereby agrees to accept employment with the Company as Chief Executive Officer,
for the period set forth in Paragraph 2 below (the period of employment) upon the other
terms and conditions set forth in this Agreement.

	2.	 	Period of Employment; Termination of Agreement

The period of employment shall commence on the date of this Agreement and, subject to the
provisions of Paragraph 5 below, shall continue through August 31, 2009. Thereafter, this
Agreement shall automatically renew for subsequent periods of one (1) year each, provided
that Johnson’s employment may be earlier terminated by either party, as hereafter provided,
subject to the rights and obligations of the parties set forth herein.

	3.	 	Performance

Throughout the period of employment, Johnson agrees to devote his full time and attention
during normal business hours to the business of the Company, except for earned vacations and
except for illness or incapacity.

	4.	 	Compensation

	 	(a)	 	For all services to be rendered by Johnson in any capacity during the period of
employment, Johnson shall be paid as annual compensation a base salary of at least
$900,000. The Board will annually review Johnson’s annual compensation and determine
what is appropriate for a cost of living increase, merit increase, and/or increase in
responsibilities or duties.

	 	(b)	 	During the term of his employment hereunder, Johnson shall be compensated
pursuant to the plan in effect on September 1, 2003 with annual variable pay pursuant
to the plan in effect during the term of this agreement. In addition, Johnson shall be
eligible for long term variable pay.

	 	(c)	 	Johnson shall be entitled to receive all benefits set forth in the Special
Supplemental Executive Retirement Plan, effective November 6, 2003 (the “Special SERP”)
or any successor plan. Johnson shall further be entitled to any additional employee
benefits separately made available to him from time to time by the Board in its
discretion.

	 	(d)	 	The Company shall bear such ordinary and necessary business expenses incurred
by Johnson in performing his duties hereunder as the Company determines from time to
time, provided that Johnson accounts promptly for such expenses to the Company in the
manner prescribed from time to time by the Company.

5. Termination 

	 	(a)	 	Nonrenewal of Agreement. The Company may elect not to renew this
Agreement, and thereby to terminate Johnson’s employment hereunder without any
obligation, upon at least one (1) year’s prior written notice to Johnson.

	 	(b)	 	Termination by CHS. The Company may terminate Johnson’s employment
hereunder, without cause and without any further obligation, upon at least one (1)
year’s prior written notice to Johnson. The Company may terminate Johnson’s employment
hereunder for cause, without prior written notice and without incurring further
obligation. For the purpose of this Agreement, termination of Johnson’s employment
shall be deemed to have been for cause only:

	 	(i)	 	if termination of Johnson’s employment shall have been the
result of an act or acts of fraud, theft or embezzlement on the part of Johnson
which, if convicted, would constitute a felony and which results or which is
intended to result directly or indirectly in gain or personal enrichment of
Johnson at the expense of the Company; or

	 	(ii)	 	if termination of Johnson’s employment results from Johnson’s
willful and material misconduct, including willful and material failure to
perform his duties, and Johnson has been given written notice by the Board of
Directors with respect to such and Johnson does not cure within a reasonable
time; or

	 	(iii)	 	if there has been a breach by Johnson during the period of
employment of the provisions of Paragraph 3 above, relating to the time to be
devoted to the affairs of the Company, and with respect to any alleged breach
of Paragraph 3 hereof, Johnson shall have substantially failed to remedy such
alleged breach within thirty days from Johnson’s receipt of notice from the
Board of Directors.

	 	(c)	 	Termination by Johnson. Johnson shall have the right to terminate his
employment in his sole discretion, with or without cause, by providing thirty (30) days
notice of his intent to resign. Johnson shall in that event receive no further
compensation or severance allowance.

	 	(d)	 	Death. In the event of Johnson’s death during the period of
employment, the legal representative of Johnson shall be entitled to the base or fixed
salary provided for in Paragraph 4(a) above for the month in which death shall have
occurred, at the rate being paid at the time of death, and the period of employment
shall be deemed to have ended as of the close of business on the last day of the month
in which death shall have occurred but without prejudice to any benefits, such as life
insurance, otherwise due in respect of Johnson’s death.

	 	(e)	 	Disability

	 	(i)	 	In the event of Johnson’s disability during the period of
employment, Johnson shall be entitled to an amount equal to the base or fixed
salary provided for in Paragraph 4(a) above, at the rate being paid at the time
of the commencement of disability, for the period of such disability but not in
excess of twelve (12) months from the beginning of the period that establishes
such disability, as described in Paragraph 5(e)(iii) below.

	 	(ii)	 	The amount of any payments due under Paragraph 5(e)(i) shall be
reduced by any payments to which Johnson may be entitled for the same period
because of disability under any disability or pension plan of the Company or of
any division, subsidiary, or affiliate thereof, or as the result of workers’
compensation or nonoccupational disability payments received from any
government entity.

	 	(iii)	 	The term “Disability” as used in this Agreement, shall mean an
illness or accident occurring during the period of employment which prevents
Johnson from performing the essential functions of his job under this
Agreement, with reasonable accommodations (as defined by federal and Minnesota
disability laws), for a period of six consecutive months. The period of
employment shall be deemed to have ended as of the close of business on the
last day of such six-month period but without prejudice to any payments due
Johnson from any disability policy or disability insurance.

6. Noncompetition

Except as otherwise consented to in writing by the Board of Directors of the Company,
Johnson agrees that during the term of his employment, and for a period of two (2) years
thereafter, he will not directly or indirectly engage in or carry on a business that is in
direct competition with any significant business unit of the Company as conclusively
determined by the Board of Directors. Further, Johnson agrees that during this same period
of time he will not act as an agent, representative, consultant, officer, director,
independent contractor or employee of any entity or enterprise that is in direct competition
with any significant business unit of the Company as conclusively determined by the Board of
Directors.

1

	7.	 	Nondisclosure of Confidential Information

Johnson, except in connection with his employment hereunder, will not disclose to any person
or entity, either during the Period of Employment or at any time thereafter, any
confidential information acquired by Johnson while employed by the Company. This protected
confidential information includes the Company’s trade secrets, technical information,
contracts, systems, procedures, business plans, internal reports, and personnel files and
information. Johnson agrees and acknowledges that all of such information, in any form, is
and will remain the sole and exclusive property of the Company.

	8.	 	Successor in Interest

This Agreement and the rights and obligations hereunder shall be binding upon and inure to
the benefit of the parties hereto and their respective legal representatives, and shall also
bind and inure to the benefit of any successor of the Company by merger or consolidation or
any purchaser or assignee of all or substantially all of its assets, but, except to any such
successor, purchaser, or assignee of the Company, neither this Agreement nor any rights or
benefits hereunder may be assigned by either party hereto.

9. Construction

Whenever possible, each provision of this Agreement shall be interpreted in such a manner as
to be effective and valid under applicable law, but if any provision of this Agreement shall
be prohibited by or invalid under applicable law, such provision shall be ineffective only
to the extent of such prohibition or invalidity without invalidating the remainder of such
provision or the remaining provisions of this Agreement.

	10.	 	Governing Laws

This Agreement shall be governed by and construed and enforced in accordance with the laws
of the State of Minnesota.

	11.	 	Notices

Any notice required or permitted to be given under this Agreement shall be sufficient if in
writing, sent by Certified Mail, Return Receipt Requested:

	 	 	 	 	 
	
 
	 	If to Johnson:
	 	John D. Johnson

10 Echo Lake Blvd.

Mahtomedi, MN 55115
	
 
	 	If to the Company:
	 	Chairman of the Board

CHS Inc.

5500 CENEX Drive

Inver Grove Heights, MN 55077
	
 
	 	With a copy to:
	 	General Counsel

CHS Inc.

5500 CENEX Drive

Inver Grove Heights, MN 55077
	12.

	 	Entire Agreement
	 	

	
 
	 	 
	 	

This Agreement shall constitute the entire agreement between the parties, amending and
restating the parties Agreement effective September 1, 2003 and superseding any prior
agreements. This Agreement may not be modified or amended, and no waiver shall be
effective, unless by written document signed by the Chairman of the Board and Johnson.

IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date set
forth above.

CHS Inc.

	 	 	 	 	 	 	 	 	 
	/s/ John D. Johnson
	 	 	 	 	 	/s/ Michael Toelle
	 
	 	By:	 	 	—	 
	 
	 	 	 	 	 	 	 	 
	John D. Johnson
	 	 	 	 	 	Michael Toelle,    Its:  Chairman of the Board

2

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