Document:

solarmax_ex106.htm

 EXHIBIT 10.6
  
 Employment contract
  
 Shanghai Solarmax Technology Co. Ltd. ( Party A hereby employ GU YU-MIN (Party B) as a contract employee. According to <The labor contract law of PRC>, <Regulations of Shanghai Municipality on the administration of labor and personnel of foreign enterprises > ( as Regulations), and the relative Chinese laws, regulations, Party A and Party B reach the agreement and sign this contract, and comply with this contract:
  
 Clause one: Contract period, probation period
  
 1. The contract period started at 2016/6/22 and end at 2018/6/23, for two years.
  
 2. Since the contract becomes effective, 0months will be the probation period. 
  
 3. The contract immediately terminated with the expiry date of the contract. For the working requirement, after the negotiation between both parties, the contract can be extended. 
  
 Clause two: working position
  
 1. Party A assign Party B as the executive manager position. Party B must obey the job assignment and complete the assignment in terms of quality and quantity on time. 
  
 2. According to requirement of production and operation and Party B’s working performance and ability, Party A remain the right to adjust the working position of Party B. Party B remain the right to reflect personal view to party A. However, without Party A’s permission, Party B must obey the assignment and management of Party A. 
  
 Clause three: working condition, labor protection
  
 1. Party A must offer the working condition which satisfy the national health and security regulations, ensure the personal security of Party B and allow Party B to work under non-harmful working environment.
  
 2. According to the real circumstance, Party A should obey the regulation and provide party be with necessary labor protection instrument 
   	 
	1

	 

	 

  
 Clause four: education and training
  
 1. During the period of contract, Party A must offer ethic, technique, security and all other regulated training and education. 
  
 Clause five: Working hours
  
 1. Party A introduce five day a week , forty hours, 8 hours per day work principle. The beginning and end time is obey the principle of Party A
  
 2. Party B has the right to enjoy all legal holidays with salary. 
  
 3. If it is necessary Party A require Party B to work on extra hours, the economical compensation will be offer according to Regulations.
  
 Clause sixLabour remuneration
  
 1. Obey to Party A’s current Labour remuneration regulation
  
 2. When Party adjust the salary standard , new Labour remuneration are executed, Party B’s working portion or situation changes, Party A is allow to adjust Party B' wage. 
  
 3. Party A releases wages on 15thevery month, the remuneration of Party B will be 30000 RMB including all the benefits listed in <stuff manual>, the remuneration during the probation period will be30000 RMB
  
 Clause sevenlabour insurancebenefits
  
 1. In accordance with national laws, regulations and policies relating to social insurance,Party B is able to enjoy the rights of labour insurance,medical insurance and all benefits. 
  
 2.In accordance with the national and Shanghai policies and regulations ,Party A shall pay the basic pension, basic medical, unemployment, work injury and maternity insurance costs, for the Party B
  
 3.Due to Party B’s illness or injury of work, in accordance with Regulations, should be offered with medical period. During that period, the wage of Party B and the medical fee should obey the national and Shanghai policies. 
   	 
	2

	 

	 

  
 Clause eight: work principle 
  
 Party B should obey Party A’s <stuff manual>, obey the regulated working procedure, regulations, ethic standard, confidential contract and etc. Party A may reward or punish Party B due to certain situation. 
  
 Clause nine: confidential contract
  
 During the period of contract, Party B shall be able to contact with the relative business opportunities, classified information, research, innovation, engineer project & information, the content of meeting ( the secret of company asset). Due to the trust, Party A release those information to Party B Party B should obey the following agreement:
  
 1. Confirm Party A’ s company be unique owner of the secret of company asset, hold all kind of rights 
  
 2. Party B should take the secret of company asset as classified information, should not disclose to any other third party or allow any other third party get access to these information. 
  
 3. Party B should do the best to keep such kind of information from disclosure. 
  
 4. Party B should not use the benefits, which originated from secret of company assets, on himself or any other group or organization, unless achieve an agreement with Party A with a written agreement. 
  
 5. In accordance with Party A’s request in any time,Party B should return the all information of secret of compamy assets within three hour or at lest the end of the working hour. No copy is allow to remain. 
  
 6. If Party B violates those regulations, Party B should make compensation to Party A for all the resulting damage. Pay back 10 times of wages per months and pay back all the benefits which offered by Party A. 
   	 
	3

	 

	 

  
 Clause Ten termination of contract
  
 1. One of the following situation, Party A can terminate the contract
  
 (1) Party B do not qualified during the probation. 
  
 (2) Severely violate the regulation. 
  
 (3) Severe misconduct , corruption and make major damage to Party A’s benefit
  
 (4) Violate the law
  
 (5) For medical reason, can not recover to qualify the previous working position 
  
 (6) Fail to qualify the job , even after training or position adjustment 
  
 (7) The objective conditions changed dramatically, can not execute the original contract, can not reach an agreement of contract modification. 
  
 (8) Party A is bankrupted or meets a crisis which can be not allow to operate, require cut down members. 
  
 2. one of the following situation, Party B can terminate the contract 
  
 (1) in the period of probation
  
 (2) Party A did not pay salary or offer work condition according to the contract
  
 (3) Party A use violence, threaten or illegal methods to force working 
  
 (4) Party B resigned
   	 
	4

	 

	 

  
 3. one of the following situation, Party B can not terminate the contract 
  
 (1) medical reason 
  
 (2 working damage or work illness during treatment
  
 (3) female pregnancy
  
 (4) during the contract period, do not fit into certain clause of the contract
  
 (5) against any laws or regulations 
  
 4. Party A or Party B want to terminate the contract, should inform the other party at one month before. Exceptions are allowed for special circumstance 
  
 5. After termination of the contract , Party B’s compensation obeys Regulations. 
  
 Clause ten : Liability for breach the contract
  
 1. Either Party, who breach the contract, should take the liability and compensate the other party. 
  
 2. During the contract period, Party A offer Party B a foreign training project, need a extension of the contract. A new contract should be made. If Party B resigned after the training, Party B should return the training fee. 
  
 Clause eleven: labour dispute
  
 When dispute occur during the contract of the period, both parties should negotiate first. If negotiation does not work, the parties have the rights to require arbitration from the arbitration committee.
   	 
	5

	 

	 

  
 Clause twelveothers
  
 1. There are two contracts in one form, each for one Party, the contract is valid after the signing.
  
 2. The missing information of this contract has been regulated in the <staff manual> of the company, Party B had been acknowledge and agree to obey the <staff manual> 
  
 3. Through negotiations the Parties may reach a mutual agreement to enter into a supplemental agreement to address other issues not referred to in this Agreement. The supplementary agreement and its annexures shall be considered part of the Agreement and have same legal effect.
  
 4.This Agreement shall be governed by the laws of the People’s Republic of China.
  
  	 Party A 
	 Party B

	 Legal representative 
	 Employee

	 Time
	 Time 

  
  
  
  
  
  	  6solarmax_ex107.htm

EXHIBIT 10.7
  
  
 SOLARMAX TECHNOLOGY, INC.
  
 2016 LONG-TERM INCENTIVE PLAN
  
 Restricted Stock Agreement
  
 This Restricted Stock Award Agreement evidences a grant of Restricted Stock pursuant to the provisions of the 2016 Long-Term Incentive Plan (the “Plan”) of SolarMax Technology, Inc., a Nevada corporation (the “Company”) to the individual whose name appears below (the “Participant”), pursuant to the provisions of the Plan and on the following terms and conditions (capitalized terms not otherwise defined herein shall have the meaning ascribed thereto in the Plan):
  
 1. Name of Participant: 
  
 2. Number of Shares of Restricted Stock (the “Shares”): 
  
 3. Date of Grant: October 7, 2016
  
 4. Issuance of the Shares: Until a Forfeiture Termination Event occurs, the Shares shall be reflected as book entry, rather than physical certificates; and the Participant shall have the rights of ownership with respect to the Shares as and to the extent set forth in Section 5. The Company’s stock record books shall include a notation that the Shares are subject to this Agreement. Upon the occurrence of a Forfeiture Termination Event, the Company shall remove the restriction notation on its stock record books and, if requested by the Participant, shall issue a certificate for the Shares to the Participant in the name of the Participant. If a Forfeiture Event shall occur, the Recipient shall transfer the Shares to the Company for cancelation. 
  
 5. Risk of Forfeiture: 
  
 (a) The Participant shall have all rights of ownership with respect to the Shares, including the right to vote the shares and to receive dividends and distributions with respect to the Shares until and unless a Forfeiture Event shall occur; provided, however, that prior to a Forfeiture Termination Event, (i) the Participant shall have no rights to sell, encumber or otherwise transfer the Shares, and (ii) any shares of any class or series of capital stock of the Company which are issued to the Participant as a holder of the Shares as a result of a stock dividend, stock split, stock distribution, reverse split, recapitalization, or similar event, shall be subject to the same forfeiture provisions as the Shares.
  
 (b) A Forfeiture Termination Event shall mean such date as is six months following a Public Stock Event, which shall be the vesting date. A Public Stock Event shall mean the first to occur of (i) the effective date of a registration statement covering an underwritten public offering of the Company’s common stock on a firm commitment basis; (ii) the closing date with respect to a public offering of the Company’s common stock other than pursuant to a firm commitment underwritten offering; (iii) the date on which the Company’s common stock is first trading on a United States or Canadian stock exchange or stock market or in a United States or Canadian over-the-counter market; (iv) the date on which the common equity of a Successor Corporation is publicly traded on a United States or Canadian stock exchange or stock market or in a United States or Canadian over-the-counter market; (v) a Change in Control, as defined in the Plan, or (vi) such other transaction or event which the Company’s board of directors determines, in its sole discretion, is an Public Stock Event.
  
  	 
	  

	 

	 

  
 (c) A Successor Corporation shall mean the successor of the Company by merger, reverse acquisition, sale of assets or other transaction provided that a majority of the shares of the resulting corporation is owned by those persons who were the stockholders of the Company immediately prior to the transaction.
  
 (d) A Forfeiture Event shall occur on December 31, 2017 if, and only if, a Public Stock Event shall not have occurred by such date; provided, however, that the board of directors shall have the right, in its sole discretion, to defer the Forfeiture Event. If a Forfeiture Event shall occur, there shall be no vesting and the Company shall cause the Shares to be transferred to the Company for cancellation, and the Participant consents to such cancellation. 
  
 6. Stock Power: The Participant shall execute a stock power transferring the Shares to the Company and shall have his or her signature medallion guaranteed and the Company shall hold the stock power subject to the terms of this Agreement. The stock power shall only be used to transfer the Shares to the Company for cancellation if a Forfeiture Event shall occur. Following the occurrence of a Forfeiture Termination Event, the Company shall return the stock power to the Participant.
  
 7. Withholding Tax: If and at the time required by law, the Participant shall pay or make arrangements for payment of any withholding tax required to be paid or withheld with respect to the Shares.
  
 8. Section 83(b) Election: By signing this Agreement, the Participant acknowledges that he or she has been advised by his or her tax advisors with respect to the filing of an election pursuant to Section 83(b) of the Internal Revenue Code and the tax consequences of such election. It shall be in the Participant’s sole discretion as to whether to make such an election.
  
 9. Governing Law: This Agreement shall be governed by the laws of the State of Nevada applicable to agreements executed and to be performed wholly within such state without regard to principles of conflict of laws.
  
 The Participant hereby acknowledges receipt of a copy of the Plan as presently in effect. The text and all of the terms and provisions of the Plan are incorporated herein by reference, and the grant of the Shares is subject to these terms and provisions in all respects. 
  
 SOLARMAX TECHNOLOGY, INC. 
  
 By: ________________________________
David Hsu, Chief Executive Officer 
  
 Agreed to and Accepted as of October 7, 2016:

[Name of Participant]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}]]