Document:

China Valves Technology, Inc.: Exhibit 10.2 - Filed by newsfilecorp.com

 

MUTUAL NON-DISCLOSURE AGREEMENT

This Mutual Non-Disclosure Agreement (this “Agreement”) entered
into this by and between : 

China Valves Technology Inc. 
226 Jinshui
Road Kineer Plazza, 
21F, Room 2101,Zhengzhou,Henan,P.RChina 

(Hereinafter referred to as the "the Company") 

And 

Yinli Song 

Address:Room 502, Unit 2, Building No. 1
(B), 9 
Chegongzhuang Street, Xicheng,
Beijing 

(Hereinafter referred to as the "Participant") 

in Zhengzhou, Henan. 

The Company is as a disclosing Party (the "Discloser") and the
Participant is as a receiving Party (the "Recipient") under this Agreement, and
collectively the “Parties”. 

WITNESS : 

WHEREAS each of China Valves Technology Inc. and the
Participant possess certain proprietary valuable and confidential information
and technology; and 

WHEREAS the Parties desire to enter into discussions for
the Purpose of evaluating the possibility of cooperation or deal in China and
for such other purposes as the Parties may agree in writing (the “Purpose”).

WHEREAS in order to determine their interest in entering
into such a business transaction, the Parties wish to exchange or to provide one
another with access to their respective “Confidential Information” (as defined
below), without undermining its confidential nature and economic value; 

NOW THEREFORE, in consideration of the mutual
undertakings and promises herein, the Parties hereto hereby agree as follows:

21/F Kineer Plazza, 226 Jinshui Road Zhengzhou, Henan,
China, 450008 Tel/Fax: 0371-65673777 

1. Confidential Information 

1.1 The term "Confidential Information" means any and
all information and know-how of a proprietary, private, secret or confidential
nature, in whatever form, that relates to the business, financial condition,
technology and/or products of the Discloser, its customers, potential customers,
suppliers or potential suppliers, provided or disclosed to the Recipient by the
Discloser, or any on its behalf, or which otherwise becomes known to the
Recipient, whether or not marked or otherwise designated as “confidential”,
“proprietary” or with any other legend indicating its proprietary nature. By way
of illustration and not limitation, Confidential Information includes all forms
and types of financial, business, technical, including but not limited to
specifications, designs, techniques, processes, procedures, methods,
compilations, inventions and developments, products, samples, algorithms,
computer programs (whether as source code or object code), data, marketing and
customer information, vendor information, personal information, projections,
plans and reports, and any other data, documentation, or information related
thereto, as well as improvements thereof, whether in tangible or intangible
form, and whether or not stored, compiled or memorialized in any media or in
writing, including information disclosed as a result of any visitation,
consultation or information disclosed by Parties to this Agreement or other
parties on their behalf such as consultants, clients, suppliers and customers,
etc. The Discloser shall determine in its sole discretion what information and
materials it shall disclose to the Recipient. 

1.2 Confidential Information shall not include information or
matter that the Recipient can demonstrate by reasonable and tangible evidence to
the Discloser’s reasonable satisfaction, that: (a) was already known to the
Recipient prior to its disclosure pursuant to this Agreement, or was
independently developed by the Recipient thereafter without reference to or use
of the Confidential Information of the other Party; (b) has become a part of the
public knowledge, without a breach of this Agreement by the Recipient; or (c)
shall have been received by the Recipient from another person or entity having
no confidentiality obligation to the Discloser; or (d) is explicitly approved in
writing by the Discloser for release by the Recipient; or (e) is disclosed
pursuant to a court order, or to the extent required under any applicable law,
provided the Recipient at the request and expense of the Discloser, uses
reasonable efforts to limit such disclosure to the extent requested and further
provided that, to the extent permissible by law, such disclosure will only be
made at the latest time legally allowed and after notice is given to the
Discloser, as soon as practicably possible, allowing it to take legal measures
to prevent the disclosure. 

2. Obligations of the Recipient 

2.1 Subject to Clause 3.6 below, the Recipient shall treat all
Confidential Information of the Discloser as strictly confidential and secure,
using the same degree of care the Recipient uses to protect its own confidential
information, but in any event not less than high standard of care, and without the prior written consent of the Discloser: 

21/F Kineer Plazza, 226 Jinshui Road Zhengzhou, Henan,
China, 450008 Tel/Fax: 0371-65673777 

	 	(a) 	
      Shall not exploit or make use, directly or indirectly,
      and/or copy, duplicate or reproduce such Confidential Information, for any
      other purpose other than for the Purpose;

	 	 	 
	 	(b) 	
      Shall protect and safeguard the Confidential Information
      against any unauthorized use, disclosure, transfer or publication with at
      least the same degree of care as it uses for its own confidential or
      proprietary information, but in no event with less than high
  care;

	 	 	 
	 	(c) 	
      Shall not use any Confidential Information to compete or
      obtain any competitive or other advantage with respect to the
      Discloser;

	 	 	 
	 	(d) 	
      Shall restrict its internal disclosure of the
      Confidential Information only to those employees who clearly have a
      need-to-know of such Confidential Information, and then only to the extent
      of such need-to-know and strictly for the Purpose;

	 	 	 
	 	(e) 	
      Shall not disclose or transfer, directly or indirectly,
      the Confidential Information or any part thereof, or any document or other
      material (in any medium), which contains, summarizes or embodies the
      Confidential Information or any part thereof, to any person, firm,
      corporation or any other entity, at any time unless it was authorized by
      the Discloser in advance; It being understood that any disclosure of
      Confidential Information to any transferee will be made (A) only on a need
      to know basis solely for the Purpose and (B) only to such transferees who
      have agreed in writing, prior to and as a condition for disclosure
      thereto, to (x) keep the confidentiality of such Confidential Information
      and (y) be bound to the confidentiality obligations of this Agreement (as
      if it had originally been named as the Recipient herein) and (z) name the
      Discloser as an intended third party beneficiary of each such written
      agreement with the rights to enforce such written agreement made by such
      transferee. For avoidance of doubt no transferee shall have the right to
      further disclose information so disclosed thereto.

	 	 	 
	 	(f) 	
      Shall assume full responsibility for enforcing this
      Agreement and shall take appropriate measures with all persons acting on
      its behalf to ensure that such persons are bound by a materially similar
      covenant of confidentiality, and informing such persons that such
      Confidential Information shall not be disclosed except as provided herein.
      The Recipient shall be fully responsible for any breach of the terms of this Agreement by any of
      its transferees and by any person acting on their behalf;

21/F Kineer Plazza, 226 Jinshui Road Zhengzhou, Henan,
China, 450008 Tel/Fax: 0371-65673777 

	 	(g) 	
      Shall notify the Discloser upon discovery of any
      unauthorized use or disclosure of the Confidential Information and take
      reasonable steps to regain possession of the Confidential Information and
      prevent further unauthorized actions or other breach of this
    Agreement.

2.2 No Rights or Licenses Granted. The disclosure of the
Confidential Information pursuant to this Agreement shall not grant the
Recipient any express or implied license or right in such Confidential
Information, including without limitation any right or license to any patent,
trademark, copyright, trade secret, moral right or any other right recognized by
any law or regulation of any jurisdiction worldwide (collectively,
“Intellectual Property Rights”). The Discloser and/or its licensors are
and shall remain at all times the owners of all Intellectual Property Rights in
any Confidential Information, to be used by the Recipient only for the Purpose.
Each Party agrees that it shall not remove or otherwise alter any of the
Discloser's trademarks, logos, copyright notices or other proprietary notices or
indicia, if any, fixed or attached to the Confidential Information or any part
thereof. 

2.3 Return of Confidential Information. Unless
otherwise required by applicable law or regulation or by any competent judicial,
governmental, supervisory or regulatory body (including without limitation, any
stock exchange), the Recipient shall either destroy or return to the Discloser
immediately upon its request all copies of the Confidential Information and all
documents and any and all materials (in any medium), which contain, summarize or
embody the Confidential Information or any part thereof, which are then in the
possession of the Recipient, its Transferees and/or under any of their control,
without retaining copies thereof, and in either case shall certify in writing
within ten (10) days of receiving such a request, its compliance with the terms
of this provision. 

3. Miscellaneous 

3.1 No Obligation. Neither this Agreement nor the
disclosure or receipt of Confidential Information shall constitute or imply any
obligation or intention by either Party to make any cooperation or otherwise
enter into any other business relationship with the other Party. 

3.2 Warranty. Each Party warrants that it has the right
to disclose all Confidential Information disclosed to the other party, and it
will indemnify and defend the other Party from third-party claims resulting from
the negligent or wrongful disclosure of such third-party's confidential
information. The disclosure of any Confidential Information by either Party
shall not constitute any other representation or warranty by that Party,
including regarding the accuracy of the same or the non-infringement of any
patent, trademark, copyright or any other intellectual property or proprietary right. 

21/F Kineer Plazza, 226 Jinshui Road Zhengzhou, Henan,
China, 450008 Tel/Fax: 0371-65673777 

3.3 Term. The obligations set out in this Agreement
shall be continuing, in particular, they shall continue in full force and effect
indefinitely notwithstanding the termination of negotiations or discussions
between the Company and the Participant. 

3.4 Entire Agreement. This Agreement shall constitute
the full and entire agreement between the Parties with respect to the
confidentiality and non-disclosure of the Confidential Information and shall
supersede any and all prior or contemporaneous agreements and understandings
relating thereto. No change, modification, or addition to any provision of this
Agreement shall be binding unless made in writing and executed by the duly
authorized representatives of both Parties. This Agreement may not be assigned
by either Party without the consent of the other Party. 

3.5 Severability. If a competent court holds that (i)
any of the provisions contained in this Agreement is for any reason excessively
broad with regard to time, geographic scope or activity, that provision shall be
construed in a manner to enable it to be enforced to the maximum extent
compatible with applicable law; (ii) any provision in this Agreement is void or
unenforceable, such determination shall not affect the validity or
enforceability of any other term or provision. 

3.6 No Publication. Neither Party shall disclose,
publicize or advertise in any manner the discussions or negotiations
contemplated by this Agreement or any other Confidential Information without the
prior written consent of the other Party, except as may be required by
applicable law or regulation or by any competent judicial, governmental,
supervisory or regulatory body (including without limitation, any stock
exchange). 

3.7 Compelled Disclosure. In the event that the
Recipient becomes compelled to disclose any of the Confidential Information
under Clause 3.6 above, as far as legally permitted, it will provide the
Discloser with prompt notice thereof so that the Discloser may seek a protective
order or other appropriate remedy against the disclosure, and in any event will
limit the disclosure to the greatest extent reasonably possible under the
circumstances. 

3.8 Notices. All notices made under this Agreement shall
be in writing and shall be deemed to have delivered (a) on the date personally
delivered, (b) three days after the date mailed, postage prepaid by certified
mail with return receipt requested, or (c) when sent via facsimile and
confirmed, all to the following addresses as applicable: 

3.9 Remedy. Each Party acknowledges that a breach of
this Agreement would cause the Discloser irreparable harm which monetary damages
will be insufficient to remedy. 

21/F Kineer Plazza, 226 Jinshui Road Zhengzhou, Henan,
China, 450008 Tel/Fax: 0371-65673777 

Accordingly, the Discloser, as the case may be, in addition to
any other remedies available at law, shall be entitled to specific performance,
injunctive or other equitable relief as a remedy for any such breach. 

3.10 Indemnity. The Recipient shall indemnify all the
loss arising out of its act of breach of any term herein or non-performance of
the obligations herein, including but not limited to any real loss, anticipatory
commercial interests or any other loss as a result of illegal usage of RECIPIENT
or usage of others illegally authorized by the Recipient. In case of the above
mentioned circumstances, the Discloser has the right to refuse to provide
furthermore any Confidential Information, and the related liabilities and loss
shall be undertaken by the Recipient. 

3.11 Dispute Settlement and Governing Laws .This
agreement shall be governed by and be interpreted in accordance with the laws of
the People’s Republic of China. With respect to any issues, disputes, lawsuits
or proceedings arising from or in connection with the rights and obligations of
the parties hereunder, the two parties shall irrevocably accept the jurisdiction
of the people’s courts of the People’s Republic of China. 

IN WITNESS WHEREOF the parties have executed this
Agreement as of the date first written above. 

Very Truly Yours, 

China Valves Technology Inc 

By: _______________ 
Name:Siping
Fang   

Title:Chairman         

Accepted and Agreed to as of the Date First Written Above: 

October 26,
2012                                           
    
By:______________________________
Name:Yinli
Song                                              

21/F Kineer Plazza, 226 Jinshui Road Zhengzhou, Henan,
China, 450008 Tel/Fax: 0371-65673777Exhibit 10.1 Amended and Restated Non-Employee Directors Compensation Plan

Exhibit 10.1

Blue Nile, Inc.
Amended and Restated Compensation Program for Non-Employee Directors (the “2012 Program”)
Effective Date:   July 31, 2012
Annual Cash Compensation
		
	•
	Retainer: $40,000 (may elect to receive stock in lieu of cash)

		
	•
	Committee Fee: $3,000

		
	•
	Audit Committee Chair Fee: $10,000                

		
	•
	Compensation Committee Chair Fee: $5,000

		
	•
	Nominating and Corporate Governance Committee Fee: $5,000

		
	•
	Non-Employee Chair Fee: $100,000

Retainer.  The $40,000 retainer (the “Retainer”) is earned in quarterly installments, with each quarterly installment of the Retainer becoming fully vested and payable on the date of the first regular Board meeting of that quarter, subject to continued service on the Board as of such date.  In lieu of cash, and prior to the start of each fiscal year, a director may elect to receive 100% of the Retainer for that next fiscal year as four quarterly fully vested stock awards under our 2004 Equity Incentive Plan (the “EIP”), with each award covering a number of shares that have a Fair Market Value (as defined in the EIP) on the date of grant equal to $10,000.  The stock award is granted on the third trading day following our quarterly public announcement of our financial earnings, subject to continued service through such date. 

Committee Fee.  A single $3,000 committee fee is earned in quarterly installments, each quarterly installment of such fee becoming fully vested and payable on the date of the first regular Board meeting of that quarter, subject to continued service on the Board as of such date, to each non-employee director who serves on one or more committees in that quarter.     

Committee Chair Fees.  Due to the time commitment involved in serving as a chair of a committee, in addition to the $3,000 committee fee, each committee chair receives an additional fee that is earned in quarterly installments, with each quarterly installment of such fee becoming fully vested and payable on the date of the first regular Board meeting of that quarter, subject to continued service on the Board as of such date.  The Audit Committee Chair fee is $10,000 annually, and the Compensation Committee Chair fee and the Nominating and Corporate Governance Committee Chair fee are each $5,000 annually.  

Non Employee Board Chair Fee.  Due to the time commitment involved in serving as the non-employee Chairman of the Board, the non-employee Chairman of the Board receives an additional $100,000 fee annually, and such fee is earned in quarterly installments, with each quarterly installment of such fee becoming fully vested and payable on the date of the first regular Board meeting of that quarter, subject to continued service on the Board as of such date. 

Prorated Payments for New Directors:  Each non-employee director who is elected or appointed after the start of the fiscal year will earn and be paid quarterly amounts of the Retainer and applicable committee or Chairman fees for each quarter in which he or she attends at least one regular Board meeting, with such amount(s) paid on the date of the first such meeting such Director attends in that quarter. No payments will be made for quarters prior to the first day of service.  
Equity Compensation
		
	•
	Annual Equity Grant: an award with a value of $63,000

		
	•
	Annual Non-Employee Board Chair Grant: an award with a value of $100,000 

		
	•
	Initial Grant of Restricted Stock Units (“Initial RSU Grant”):  an award with a value of $100,000

		
	•
	Stock Option Grant Upon Full Vesting of Initial Option Grant:  non-employee directors appointed to the Board before July 31, 2012 will receive a one-time option to purchase 9,000 shares.  Directors appointed to the Board after July 31, 2012 will not receive a second grant following the vesting of his/her Initial RSU Grant. 

Annual Equity Grant.  Each non-employee director will be granted an annual equity grant for a number of shares having a value equal to $63,000 on the first trading day following the first regular Annual Meeting of stockholders for that year.  The annual grant vests every three (3) months from the date of the grant for one year.  These grants cease vesting as of the date a non-employee director no longer serves on the Board of Directors.    
Each Non-Employee Director must elect, prior to the start of the fiscal year in which the Annual Meeting is to take place, to receive the Annual Equity Grant in the form of either (i) 100% as RSUs or (ii) 100% as Options.  In the absence of a timely election, the Annual Stock Retainer will be granted as 100% Options.  Individuals who become a non-employee director on or after the start of the fiscal year must make an election on or before the date he or she is appointed or elected as a non-employee director. 
The number of shares subject to the RSUs will be equal to the value of the Annual Stock Retainer divided by the Fair Market Value as of the grant date.  The number of shares subject to the Options will be equal to the number of shares having a grant date fair value equal to the value of the Annual Stock Retainer, as calculated in accordance with Topic 718 of the Financial Accounting Standards Board Accounting Standards Codification.  
Annual Non-Employee Board Chair Grant.  The non-employee Chairman of the Board will be granted an annual equity grant for a number of shares having a value equal to $100,000 on the first trading day following the first regular Annual Meeting of stockholders for that year.  The annual grant vests every three (3) months from the date of the grant for one year and ceases vesting as of the date a non-employee director no longer serves on the Board of Directors.  
The non-employee Chairman of the Board must elect, prior to the start of the fiscal year in which the Annual Meeting is to take place, to receive this grant in the form of either (i) 100% as RSUs or (ii) 100% as Options.  In the absence of a timely election, this grant will be granted as 100% Options.  The number of shares subject to the RSUs will be equal to the value of the Annual Stock Retainer divided by the Fair Market Value as of the grant date.  The number of shares subject to the Options will be equal to the number of shares having a grant date fair value equal to the value of the Annual Stock Retainer, as calculated in accordance with Topic 718 of the Financial Accounting Standards Board Accounting Standards Codification. 
Initial RSU Grant.  Each director will be granted, on the date of his or her election or appointment, an Initial RSU Grant valued at $100,000.  The number of shares subject to the restricted stock units will be equal to $100,000 divided by the Fair Market Value as of the grant date.  The Initial RSU Grant vests every three (3) months from the date of the grant for four years.  This Initial RSU Grant ceases vesting as of the date a non-employee director no longer serves on the Board of Directors.  
Directors Elected to the Board Prior to July 31, 2012: One Time Stock Option Grant Upon Full Vesting of Initial Option Grant.  On the fourth anniversary of the grant of an initial stock option grant, non-employee director appointed or elected to the Board of Directors prior to July 31, 2012 will be granted a new stock option covering 9,000 shares.  This grant vests monthly from the date of the grant for four years.  These options cease vesting as of the date a non-employee director no longer serves on our Board of Directors.  Non-employee directors elected or appointed to the Board of Directors after July 31, 2012 will not receive a new equity grant upon the full vesting of his/her Initial RSU Grant.
Additional Terms and Conditions
All options will be granted with an exercise price equal to the Fair Market Value of the Common Stock on the date of grant, will have a 10 year term and a general post-termination exercise period of 12 months, subject to earlier termination or extension as provided in the EIP and the Applicable Award Agreement.

The vesting of the equity awards granted to non-employee directors under this 2012 Program will become fully vested as of the earlier to occur of: (x) the date of the Non-Employee Director's termination of service due to death or Disability and (y) immediately prior to a Change in Control (subject to continued service as of such time).  The unvested portions of any RSUs or Options are forfeited upon any other termination.
Section 409A:  Notwithstanding anything to the contrary in this 2012 Program, if a Director is deemed by the Company at the time of such director's Separation from Service to be a “specified employee” for purposes of Code Section 409A(a)(2)(B)(i), and if any of the payments upon Separation from Service set forth herein and/or under any other agreement with the Company are deemed to be “deferred compensation,” then to the extent delayed commencement of any portion of such payments is required to avoid a prohibited distribution under Code Section 409A(a)(2)(B)(i) and the related adverse taxation under Code Section 409A, such payments shall not be provided to such Director prior to the earliest of (i) the date that is six months and one day after the date of such Director's Separation from Service, (ii) the date of the Director's death, or (iii) such earlier date as permitted under Code Section 409A without the imposition of adverse taxation.  On the first business day following the expiration of such applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this paragraph shall be paid in a lump sum to the Director, and any remaining payments due shall be paid as otherwise provided herein or in the applicable agreement.
Capitalized Terms:  Capitalized terms that are not defined herein will have the meaning set forth in the EIP, and, if not defined therein, in the Applicable Award Agreement.
Forms of Award Agreement:  The General Counsel of the Company has the authority to make such clarifying changes to the form of stock option agreement and restricted stock unit award agreement as are necessary to conform such forms for use under this 2012 Program. 
To ensure compliance with Internal Revenue Service Circular 230, you are hereby notified that any discussion of tax matters set forth in this notice was written in connection with the promotion or marketing of the transactions or matters addressed herein and was not intended or written to be used, and cannot be used by you, for the purpose of avoiding tax-related penalties under federal, state or local tax law.  You should seek advice based on your particular circumstances from an independent tax advisor.

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