Document:

Unassociated Document

EXHIBIT 10.2

 

EMPLOYMENT CONTRACT

An agreement made the 1st day of January 2012 between B2B Chips, Ltd. of Unit B, 17th Floor, Tins Plaza, 3 San On Street, Tuen Mun, New Territories, Hong Kong (hereinafter called “the Employer” which expression shall where the content so admits include his servants and agents) 

and Henry T. Cochran, US Passport No. 711890358 of Coastal Rose Garden II, 35-17C, Nanshekougang West, Wanghai Road, Shekou, Shenzhen, P.R. China 518028, having his place of origin at 9 State Park Road, Hull MA 02045 USA (hereinafter called “the Employee”), witnesseth as follows.

1. The Employee shall be employed by the Employer for twelve (12) months commencing from the date first written above.

2. The Employee agrees to proceed to Unit B, 17th Floor, Tins Plaza, 3 San On Street, Tuen Mun, New Territories, Hong Kong (hereinafter called “the place of employment”) as and when directed by the Employer and undertakes to work diligently and faithfully as Chief Executive Officer for the term of his engagement set out in Clause 1 of this Contract and to act in all respects according to the reasonable instructions and directions given to him by the Employer.

3. The Employee shall perform the normal duties for which he has been engaged under Clause 2.

4. (a) The Employee shall receive wages at a rate of not less than US$16,666.67 per month.

(b) Wages shall be paid by the Employer every month on the 5th day of the following month by wire transfer.

(c) The Employee shall be responsible for the payment of income tax.

(d) Other conditions (please specify): ......................................................................................

.......................................................................................

5. (a) In the event of the death of or injury to, or incapacity due to occupational disease, of the Employee arising out of and in the course of employment, the Employer shall:

(i) defray the expenses necessarily incurred by the Employee on account of medical treatment, including maintenance in hospital, while he is incapacitated;

(ii) pay or arrange with the appropriate authority for payment of compensation in accordance with the law of the place of employment or, if no law on compensation exists, himself pay compensation not less favourable than that laid down in the Employees’ Compensation Ordinance (Cap. 282), the Laws of Hong Kong;

(iii) be responsible for all expenses incurred whenever the Employee is required to undergo a medical assessment for the purpose of employees’ compensation.

(b) When the Employee is ill or suffers from an accident not attributable to his employment, the Employer shall provide free medical attention and maintenance in hospital to the Employee while he is incapacitated. Full wages shall be paid for three months of incapacity and thereafter half wages shall be paid for nine months. After this period the Employer shall continue to provide free medical attention and maintenance in hospital until the Employee has recovered or a medical certificate has been obtained as prescribed in Clause 5(c).

 

  

  

  

 

(c) In the event of a medical practitioner certifying that in his opinion the Employee is unfit for further service with the Employer, the Employer shall provide free maintenance in hospital or an adequate maintenance allowance prior to repatriation, and free return passage, airport tax, travel and subsistence expenses, free accommodation and other benefits for the Employee to Hong Kong or, at the Employee’s request, to his place of origin if such place is nearer to the place of employment in accordance with Clause 2 of the Contract.

(d) Provided that in any place where medical attention, hospitalisation, cash payments in the event of accident or occupational disease arising out of and in the course of employment are provided under a scheme of state insurance or otherwise free of charge, the Employer shall not be so liable; and provided further that in any place where free medical attention and hospitalisation are available to an employee when ill or suffering from an accident not attributable to employment or payment of cash benefits to employees who are incapacitated by illness are provided by the state or by a system of national insurance, the Employer shall not be liable except insofar as the benefits paid may be less than the amounts set out in paragraph (b) of this clause.

6. (a) In the event of the Employer wishing to terminate this Contract, he shall give one month’s notice or one month’s wages in lieu thereof.

(b) The Employee shall be repatriated within 3 months at the Employer’s expense in circumstances where:-

(i) the Employee gives the Employer one month’s notice of his decision to terminate this Contract, or gives the Employer one month’s wages in lieu of notice; or

(ii) the Employer has breached a term, express or implied, of this Contract and the Employee has chosen to terminate the Contract as a consequence of the breach.

(c) The Employer reserves the right to dismiss summarily the Employee for gross misconduct. In such a case the Employee shall retain the right to be repatriated within 3 months at the Employer’s expense from the day of dismissal.

Should the Employee be dismissed under this paragraph, the Employer shall immediately inform an official responsible for matters pertaining to employment in the place of employment.

(d) Where this Contract has been terminated in accordance with paragraph (a), (b) or (c) above, the Employer shall provide the Employee with wages, free return passage, airport tax, travel and subsistence expenses, free accommodation and other benefits for the Employee to Hong Kong or at the Employee’s request to his place of origin if such place is nearer to his place of work in accordance with Clause 9 of the Contract.

7. (a) Should the Employer and the Employee wish to extend the period of employment after the expiry of this Contract, they may do so by entering into a re-engagement contract.

(b) The re-engagement contract shall require attestation by the Commissioner for Labour, Hong Kong. Before attesting any re-engagement contract the Commissioner for Labour shall be satisfied that the Employee has had the opportunity of being repatriated.

8. Any variation or addition to the terms of this Contract during its duration shall be made only with the consent of an official responsible for matters pertaining to employment in the place of employment.

9. (a) The Employee during the performance of this Contract shall be subject to the law of the place of employment.

 

  

  

  

 

(b) Where the law or the relevant collective agreement in force in the place of employment provides more favourable benefits to the Employee than those specified in this Contract, the Employee shall be entitled to such benefits as are enjoyed by the employees in comparable employment in that place.

10. (a) If the Employee shall be in any way dissatisfied with the manner in which the Employer observes the terms of this Contract he shall make before he leaves the place of employment a complaint to an official responsible for matters pertaining to employment in the place of employment. If he fails to do so he shall not be entitled to maintain legal proceedings for breach of a term, condition or warranty of this Contract against the Employer in Hong Kong unless he can show that his failure to make a complaint in the place of employment was not due to his own act or default or that the complaint arose subsequent to his leaving the place of employment.

(b) In the event of any dispute between the parties arising out of this Contract both parties hereto agree to submit to the jurisdiction of the courts of Hong Kong and the proper law of this Contract shall, save for Clause 9(b), be the laws of Hong Kong.

11. In this Contract, unless the contrary intention appears, words importing the masculine gender shall include the feminine and the neuter genders and words importing the singular number shall include the plural number and vice versa.

12. The Employer and the Employee hereby agree that this is the only valid and enforceable contract of employment between them.

In witness whereof the said parties to these presents have hereunto set their hands the day and year first above written.

SIGNED by the Employer ..../s/Li De Hai......................... ..............................................................................

in the presence of ................................................................ .............................................................................

(Name of Witness) (Signature of Witness)

SIGNED by the Employee .../s/Henry Cochran.............. .................................................................................

in the presence of .................................................................. ...........................................................................

(Name of Witness) (Signature of Witness)ex10_3.htm

EXHIBIT 10.3

CONTRACT OF EMPLOYMENT

Entered into between:

Sinohub Electronics Shenzhen, Ltd.

(Herein after referred to as “the employer”)

Address of employer:

6/F, No. 5 Qiongyu Road

Central Area, Technology Park

Nanshan District

Shenzhen, China 518057

Legal Representative:

Li De Hai

Contact Person:

Zhao Xi Hang

Contact phone number:

+86-138-2319-3216

And

Lei Xia

(Herein after referred to as “the employee”)

Address of employee:

Apt. 12C, Bldg D, Emerald Palace,

Splendid Garden, Overseas China Town

Nanshan District, Shenzhen

PR China 518053

ID card number:

713199472 (US Passport)

Contact phone number:

+86-138-2326-9445

According to the hereafter relative terms and regulations in China Employment Law, the employer and the employee hereafter sign the following contract and agree to obey it.

 

  

  

  

 

Term of the contract

1.1 The employer and the employee define the term of the contract in the fixed term way listed below:

	
  

	
a.

	
Fixed term: This contract will begin on January 1, 2012 and continue until December 31, 2012

	
  

	
b.

	
No fixed term: This contract will begin on ............................................

	
  

	
c.

	
After completing some work: This contract will begin on .................... and continue until terminated on .................... when the work is done. The criteria of completion of the work is .....................

 

1.2 The term of the probation is  .............N/A .............. (It includes in the term of the contract. If no probation, please put in N/A.)

	
2.

	
Job description

Job Title: President

	
3.

	
Hours of work

3.1 The employer and the employee define hours of work in the no fixed working hours way listed below:

	
  

	
a.

	
Normal daily working hours will be .................... hours (no more than 8 hours), and the weekly working hours will be ....................hours (no more than 40 hours).

	
  

	
b.

	
No fixed working hours, i.e. after getting the approval of labor department, the employee will work without the regular fixed period of time.

	
  

	
c.

	
After getting the approval of labor department, the employee will work and be paid according to the accumulated hours.

3.2 Over time will only be worked if agreed upon between the parties as set out in Clause 41 in the employment Law.

	
4.

	
Wage

4.1 The employer must structure the wage system in compliance with relative laws and regulations and inform the employees. The employee wage shall be paid no less than the minimum wage of that year announced by the government.

4.2 Monthly wage of the employee is US$4,000 paid in RMB at the prevailing exchange rate (The employee wage during probation is N/A)

4.3 The employee wage shall be paid in cash on the last working day of every month and shall be: ........................................

4.4 In terms of overtime payment, public holidays, Paid Time Off and other special conditions of the employee, the employer must execute according to the Regulations of the Shenzhen Municipality on the Wage Payment to employees.

 

  

  

  

 

4.5 Other agreements between the employer and the employee as below:

................................................................................................................................................

 

 

	
5.

	
Protection of Employees and Other conditions of employment

5.1 The employer must provide the employee with working environment compliant with the national sanitation standard and labor protection devices in order to protect the employees at work.

5.2 Employee is engaged in .................................. which may lead to occupational harm ...................................., therefore, the employer must ............................................., and organize the employees to take physical examination .......................... (times) a year.

5.3 The employee is entitled to refuse to obey the instructions of the employer that are against the relative law and (or) regulations and may bring the harm to the security or health of the employee, who can report tot the relative organizations.

	
6.

	
Social insurance and labor protection allowances and welfare

6.1 The employer conducts social insurance procedures for employees. The insurance fee will be paid according to insurance law and regulations.

6.2 The employer offers sick leave and medical welfare when employee is sick or injured not related with work.

6.3 The employer conducts according to the Code of Occupational Disease Prevention of PRC and Work-related Injury Insurance Regulations when the employee has occupational disease, is injured or dead.

6.4 The employee is entitled to take public holidays, annual leave, honeymoon vacation and maternity leave, etc.

	
7.

	
Labor discipline

7.1 The discipline and regulations that the employer establishes must be open and informed to employees.

7.2 The employee must obey the relative national, provincial and municipal discipline and regulations and those established by the employer, and complete the assignment timely.

7.3 They employee must obey the relative national, provincial and municipal discipline of birth-control.

	
8.

	
Alternation of the contract

This contract can be altered or modified with the agreement of both parties. Any changes of the contract must be in written form.

	
9.

	
Dissolution of the contract

9.1 If one party or both parties of the contract proposes to dissolute the contract before the contract expires, the proposal must be compliant with the relative regulations.

9.2 The employer must pay the employee compensation of it confirms to the needed conditions.

 

  

  

  

 

9.3 When both parties dissolute the contract, the employer must inform the employee in written form and go through the corresponding procedure.

	

10.

	

Termination of employment

 

10.1 When the contract expires or the condition that both parties agree to terminate the contract occurs, this contract of employment is terminated. The employer must inform the employee in written form and go through the corresponding procedure.

10.2 When the contract expires, if both parties agree to renew it, needed procedures must be done with 30 days before the expiration of the contract.

 

	

11.

	

Liabilities for Breach of Contracts

 

11.1 Liabilities of the employer:

Local third party health insurance

Indemnification Agreement

Director and Officer Insurance

11.2 Liabilities of the employee:

Employee shall be liable for negligence, fraud and theft

	
12.

	
Dispute Principle

 

When dispute about employment arises between both parties, they should first resolve this by resorting to consultations by themselves. If it fails, both parties can apply for mediation at the labor dispute mediation commission of its own, or apply for arbitration directly at the labor dispute arbitration commission. If the parties agree to accept the award of arbitration, they must fulfill it. If the parties refuse to accept the award of arbitration over a personnel dispute, they may file an action in a people’s court according to law.

	
13.

	
Other conditions of employment both parties agree on:

 

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................................................................................................................................................

................................................................................................................................................

	
14.

	
Other issues

 

14.1 For the matters not mentioned herein or terms against the applicable laws and standards, it must be carried on according to law.

14.2 The following regulations of the employer will be the appendix to this contract.

................................................................................................................................................

................................................................................................................................................

................................................................................................................................................

14.3 This contract is effective on the date since both parties sign. Any sign of erasure or authorized signature without approval in written form is invalid.

14.4 This contract is in duplicate and is to be held by both parties.

  

  

  

THUS DONE AND SIGNED AT SHENZHEN, PR CHINA ON THE FIRST DAY OF JANUARY, 2012.

 

	EMPLOYER	 	EMPLOYEE
	 	 	 
	/s/Henry Cochran	 	 /s/Lei Xia
	CEO

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