Document:

Exhibit 10.2

 

AMENDMENT NO. 2 TO

EMPLOYMENT
CONTRACT

 

THIS AMENDMENT NO. 2 (this
“Amendment”) to the Employment Contract (as defined hereinafter) is executed as of February 9, 2012 by and between
Sutor Technology Group Limited, a Nevada corporation (the “Company”), and Naijiang Zhou (the “Employee”).
Capitalized terms used herein without definition shall have the meanings ascribed thereto in the Employment Contract referred to
below.

 

W I T N E S S E T H:

 

 

WHEREAS, the Company and
the Employee are parties to that certain Employment Contract dated as of December 18, 2009 (the “Employment Contract”);

 

WHEREAS, the Company and
the Employee entered into an amendment to the Employment Contract on February 23, 2011 in which the parties thereto amended certain
provisions of the Employment Contract (the “Amendment No. 1”);

 

WHEREAS, the Company and
the Employee wish to amend the Employment Contract further as set forth in this Amendment;

 

NOW, THEREFORE, for mutual
consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

		1.	Amendments to the Employment Contract

 

a. Section 4.1(a)
of the Employment Contract shall be deleted in its entirety and the following shall be substituted in lieu thereof:

“Party B’s
monthly basic salary before tax is RMB 58,000.”

b. Section 4.1(b)
of the Employment Contract shall be deleted in its entirety and the following shall be substituted in lieu thereof:

“Party B shall
be entitled to receive 50,000 restricted shares of the common stock of Party A pursuant to Party A’s 2009 Equity Incentive
Plan. Such restricted shares shall be granted on or about February 21, 2012 according to a restricted shares grant agreement (the
“Restricted Shares Grant Agreement”) to be entered into between the Parties. The restricted shares will be subject
to the terms and conditions of such Restricted Shares Grant Agreement.”

		2.	Agreement Otherwise Unchanged

Except as herein
provided, the Employment Contract shall remain unchanged and in full force and effect.

    	

    	 

    
 

		3.	Governing Law. 

This Amendment
shall be governed by and construed in accordance with the laws of the State of New York.

		4.	Entire Agreement. 

This Amendment
along with the Employment Contract and the Amendment No. 1 contain the entire understanding of the parties with respect to the
subject matter hereof and supersedes all prior agreements, understandings, discussions and representations, oral or written, with
respect to such matters, which the parties acknowledge have been merged into this Amendment.

		5.	Counterparts. 

This Amendment
may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

[THE REMAINDER OF THIS
PAGE IS INTENTIONALLY LEFT BLANK.]

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Amendment as of the date herein above first written.

 

 

	 	
        SUTOR TECHNOLOGY GROUP
        LIMITED

         

         

        By: _/s/ Lifang
        Chen___________________

        Name: Lifang Chen

Title: CEO 

 

 

 

	 	EMPLOYEE
         

        Name: Naijiang Zhou

         

         

        Signature:    /s/ Naijiang Zhou                    

 

 

    	3Exhibit 10.3

SUTOR STEEL TECHNOLOGY CO., LTD.

 

No 8, Huaye Road, Dongbang Industrial Park

Changshu, People’s Republic of China,
215534

(86) 512-52680988

 

February 9, 2012

 

By Hand Delivery

Lifang Chen

 

Dear Ms. Chen

 

The purpose of this letter
agreement (the “Agreement”) is to confirm your employment arrangement with SUTOR STEEL TECHNOLOGY CO., LTD. (the “Company”),
on the following terms and conditions:

 

1. Duties. You will
be employed as the Chief Executive Officer, subject to the supervision of the board of directors. Your duties will include but
not be limited to, developing and implementing high-level strategies, making major corporate decisions, managing the overall operations
and resources of the Company, and acting as the main point of communication between the board of directors and the corporate operations.
During your employment by Company, you shall not engage in any activity or have any business interest which in any manner interferes
with the proper performance of your duties, conflicts with the interest of Company or brings into disrepute the business reputation
of Company.

 

2. Salary. Your salary
will be 150,000 USD per year, to be paid in monthly installments or otherwise in accordance with Company’s normal payroll
practices.

 

3. Bonus. You
shall be eligible for a bonus, which will be payable in the sole discretion of Company based upon your performance and the Company’s
performance during any year of your employment with the Company.

 

4.Term of Employment.
You will be an employee-at-will. This means that either you or Company may end your employment at any time, with or without cause,
and with or without notice.

 

5.Vacation. You
shall be entitled to 24 paid vacation days. You may not take more than 32 vacation days consecutively. Vacation days will not be
carried over to future years of employment.

 

6.Incentive and Other
Plans. You will be entitled to participate in such pension, major medical, life insurance and other plans and benefit programs
as may be made available from time to time to employees of Company having responsibilities comparable to yours and under the terms
of which you are eligible to participate.

 

    	

    	 

    
 

 

7. Company Policies.
You shall at all times be subject to and comply with policies, rules and procedures of Company then in effect, including without
limitation with respect to hours of work, holidays, vacation and sick leave and pay, conflict of interest, improper payments, political
contributions and payments to government officials.

 

8. Patents. You hereby
assign to Company all rights to any inventions, techniques, processes, concepts, ideas, programs, source codes, formulae, research
and development and marketing plans, whether or not patentable or copyrightable, made, conceived or reduced to practice by you
during the course of your employment by Company.

 

9. Covenants. During
your employment by Company and at all times thereafter, you shall not (a) disrupt, disparage, impair or interfere with the business
of Company or (b) disclose to anyone else, directly or indirectly, any proprietary or business sensitive information concerning
the business of Company or use, or permit or assist, by acquiescence or otherwise, anyone else to use, directly or indirectly,
any such information. Such information shall include all information to the extent not generally known to the public which, if
released to unauthorized persons, could be detrimental to the reputation or business interests of Company or parties with which
Company contracts or which would permit such person to benefit improperly.

 

10. Company Property.
Upon termination of your employment for any reason, you shall promptly deliver to Company all property belonging to Company and
shall not retain any copies of any correspondence, reports, lists or other documents relating in any way to the affairs of Company
or its clients.

 

11. Non-Solicitation.
During the term of your employment by Company and for a period of twelve months following the termination of your employment, whether
voluntary or involuntary, you shall not, directly or indirectly:

 

(a) solicit customers
or business patronage which results in competition with the business of Company or any of its affiliates, or

 

(b) approach or attempt
to induce any person who is then in the employ of Company to leave the employ of Company or employ or attempt to employ any person
who was in the employ of Company at any time during the prior twelve months.

 

12. Notices. All
notices hereunder shall be to the parties’ addresses set forth above for the Company and on the Signature Page for you, in
writing and given by registered or certified mail, return receipt requested, postage and registration fees prepaid, and shall be
deemed given when so mailed. The addresses set forth herein may be changed by notice given in the manner set forth in this Section.

 

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13.Miscellaneous.
This Agreement (a) shall be governed by, and construed in accordance with, the laws of the British Virgin Islands, without regard
for the conflict of laws principles thereof, (b) shall inure to the benefit of, and shall be binding upon, the parties hereto and
their respective heirs, legal representatives and assigns, (c) may not be changed orally but only by an agreement in writing signed
by the party against whom any waiver, change, amendment, notification or discharge is sought, and (d) contains the entire agreement
between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements, oral or written, between
the parties hereto. The invalidity of all or any part of any section of this Agreement shall not render invalid the remainder of
this Agreement. If any provision of this Agreement is so broad as to be unenforceable, such provision shall be interpreted to be
only so broad as is enforceable.

 

 

	 	SUTOR STEEL TECHNOLOGY CO., LTD.
	 	 	 
	 	By:	/s/ Yongfei
Jiang
	 	Name:	Yongfei
Jiang
	 	Title:	Chief Financial
Officer

 

 

 

	ACCEPTED AND AGREED TO
	AS OF THE DATE FIRST ABOVE
	WRITTEN:
	 
	/s/ Lifang Chen	 
	Lifang Chen	 
	 	 
	Address:
	 
	c/o Sutor Steel Technology Co., Ltd.
	No 8, Huaye Road
	Dongbang Industrial Park
	Changshu, China, 215534

 

 

 

    	3Exhibit 10.4

SUTOR STEEL TECHNOLOGY CO., LTD.

 

No 8, Huaye Road, Dongbang Industrial Park

Changshu, People’s Republic of China,
215534

(86) 512-52680988

 

February 9, 2012

 

By Hand Delivery

Yongfei Jiang

 

Dear Mr. Jiang

 

The purpose of this letter
agreement (the “Agreement”) is to confirm your employment arrangement with SUTOR STEEL TECHNOLOGY CO., LTD. (the “Company”),
on the following terms and conditions:

 

1. Duties. You will
be employed as the Chief Financial Officer, subject to the supervision of the board of directors. Your duties will include but
not be limited to, supervise the financial management of the company, improve the cash utilizing efficiency, reduce financial cost.
You shall devote your entire business time, energies, attention and abilities to the business of Company unless otherwise authorized
by the board of directors. During your employment by Company, you shall not engage in any activity or have any business interest
which in any manner interferes with the proper performance of your duties, conflicts with the interest of Company or brings into
disrepute the business reputation of Company.

 

2. Salary. Your salary
will be 120,000 USD per year, to be paid in monthly installments or otherwise in accordance with Company’s normal payroll
practices.

 

3. Bonus. You
shall be eligible for a bonus, which will be payable in the sole discretion of Company based upon your performance and the Company’s
performance during any year of your employment with the Company.

 

4.Term of Employment.
You will be an employee-at-will. This means that either you or Company may end your employment at any time, with or without cause,
and with or without notice.

 

5.Vacation. You
shall be entitled to 24 paid vacation days. You may not take more than 32 vacation days consecutively. Vacation days will not be
carried over to future years of employment.

 

6.Incentive and Other
Plans. You will be entitled to participate in such pension, major medical, life insurance and other plans and benefit programs
as may be made available from time to time to employees of Company having responsibilities comparable to yours and under the terms
of which you are eligible to participate.

 

    	1

    	 

    

 

7. Company Policies.
You shall at all times be subject to and comply with policies, rules and procedures of Company then in effect, including without
limitation with respect to hours of work, holidays, vacation and sick leave and pay, conflict of interest, improper payments, political
contributions and payments to government officials.

 

8. Patents. You hereby
assign to Company all rights to any inventions, techniques, processes, concepts, ideas, programs, source codes, formulae, research
and development and marketing plans, whether or not patentable or copyrightable, made, conceived or reduced to practice by you
during the course of your employment by Company.

 

9. Covenants. During
your employment by Company and at all times thereafter, you shall not (a) disrupt, disparage, impair or interfere with the business
of Company or (b) disclose to anyone else, directly or indirectly, any proprietary or business sensitive information concerning
the business of Company or use, or permit or assist, by acquiescence or otherwise, anyone else to use, directly or indirectly,
any such information. Such information shall include all information to the extent not generally known to the public which, if
released to unauthorized persons, could be detrimental to the reputation or business interests of Company or parties with which
Company contracts or which would permit such person to benefit improperly.

 

10. Company Property.
Upon termination of your employment for any reason, you shall promptly deliver to Company all property belonging to Company and
shall not retain any copies of any correspondence, reports, lists or other documents relating in any way to the affairs of Company
or its clients.

 

11. Non-Solicitation.
During the term of your employment by Company and for a period of twelve months following the termination of your employment, whether
voluntary or involuntary, you shall not, directly or indirectly:

 

(a) solicit customers
or business patronage which results in competition with the business of Company or any of its affiliates, or

 

(b) approach or attempt
to induce any person who is then in the employ of Company to leave the employ of Company or employ or attempt to employ any person
who was in the employ of Company at any time during the prior twelve months.

 

12. Notices. All
notices hereunder shall be to the parties’ addresses set forth above for the Company and on the Signature Page for you, in
writing and given by registered or certified mail, return receipt requested, postage and registration fees prepaid, and shall be
deemed given when so mailed. The addresses set forth herein may be changed by notice given in the manner set forth in this Section.

 

 

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13.Miscellaneous.
This Agreement (a) shall be governed by, and construed in accordance with, the laws of the British Virgin Islands, without regard
for the conflict of laws principles thereof, (b) shall inure to the benefit of, and shall be binding upon, the parties hereto and
their respective heirs, legal representatives and assigns, (c) may not be changed orally but only by an agreement in writing signed
by the party against whom any waiver, change, amendment, notification or discharge is sought, and (d) contains the entire agreement
between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements, oral or written, between
the parties hereto. The invalidity of all or any part of any section of this Agreement shall not render invalid the remainder of
this Agreement. If any provision of this Agreement is so broad as to be unenforceable, such provision shall be interpreted to be
only so broad as is enforceable.

 

 

	 	SUTOR STEEL TECHNOLOGY CO., LTD.
	 	 	 
	 	By:	/s/ Lifang Chen
	 	Name:	Lifang Chen
	 	Title:	Chairman

 

 

 

	ACCEPTED AND AGREED TO
	AS OF THE DATE FIRST ABOVE
	WRITTEN:
	 
	/s/ Yongfei Jiang	 
	Yongfei Jiang	 
	 	 
	Address:
	 
	c/o Sutor Steel Technology Co., Ltd.
	No 8, Huaye Road
	Dongbang Industrial Park
	Changshu, China, 215534

 

 

    	3

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