Document:

ex1033a.htm

EXHIBIT 10.33A

 

 

 

THIS STOCK OPTION AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS

SOLD PURSUANT TO RULE 144 UNDER SUCH ACT.

 

THE GUITAMMER COMPANY

 

STOCK OPTION AGREEMENT

 

(Nonqualified Stock Option)

 

THIS STOCK OPTION AGREEMENT (this "Agreement"), dated November 12, 2010, between The Guitammer Company, an Ohio corporation (the "Company"), and Francine 1. Jacobs, Trustee of the Revocable Trust Created by Julie E. Jacobs under Agreement dated November 25, 999 (the "Jacobs Trust") being a resident of the State of Ohio (the "Optionee");

 

WITNESSETH:

 

WHEREAS, the Board of Directors of the Company adopted The Guitammer Company 1999 Non-Qualified Stock Option Plan (the "Plan") on September 30th, 1999;

 

WHEREAS, the Plan permits the grant of nonqualified stock options with respect to common shares of the Company (the "Common Shares");

 

WHEREAS, pursuant to the provisions of the Plan, the Board of Directors of the Company, or a committee of directors designated by the Board of Directors to administer the Plan (in either case, the "Committee"), has determined that a nonqualified stock option to acquire Common Shares should be granted to the Optionee upon the terms and conditions set forth in this Agreement and under that certain Inventory Financing Agreement dated November 12, 2010 entered into by and among the Company, the Optionee and others (the "Purchase Agreement");

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, the parties hereto make the following agreement, intending to be legally bound thereby:

 

Section 1.Plan as Controlling. All terms and conditions of the Plan, as it may be amended from time to time, applicable to options granted thereunder shall be deemed incorporated herein by reference; provided, however, that no amendment to the Plan made effective after the date of this Agreement shall affect the Option (as defined in Section 2), without the consent of the Optionee. In the event that any provision in this Agreement conflicts with any term in the Plan, the term in the Plan shall be deemed controlling.

 

 

  

  

  

 

Section 2.Grant of Option. The Company hereby grants to the Optionee an option (the "Option") to purchase eighty two and eight tenths (82.8) Common Shares.

 

Section 3.Terms and Conditions of the Option.

 

(a) Option Exercise Price. The purchase price (the "Option Exercise Price") to be paid by the Optionee to the Company upon the exercise of the Option shall be Six Hundred and Sixty Five Dollars ($665.00) per Common Share.

 

(b) Exercise of the Option. The Optionee may exercise the Option, from time to time and at any time, beginning on the first anniversary of this Agreement. The grant of the Option shall not confer upon the Optionee any right to be employed by the Company nor limit in any way the right of the Company to terminate the employment of the Optionee at any time.

 

(c) Option Thrm. The Option shall in no event be exercisable after the expiration of ten (10) years from the date of this Agreement.

 

(d) Method of Exercise. The Option may be exercised only by giving written notice of exercise to the Company stating the number of Common Shares subject to the Option in respect of which it is being exercised. The notice must be given to the President of the Company. The Optionee shall be required, as a condition precedent to the Optionee's right to exercise the Option and at the Optionee's expense, to supply the Company with such evidence, representations and agreements as the Company may deem necessary or desirable to establish the Optionee's right to exercise the Option and the propriety of the sale of Common Shares by reason of such exercise under the Securities Act of 1933, as amended (the "Securities Act"), the securities laws of the state of residence of the Optionee or any holder of the Option, and any other laws or requirements of any governmental authority. Without limiting the generality of the foregoing, the Option shall not be exercisable unless the sale of the Common Shares by reason of such exercise has been registered under the Securities Act and all other applicable securities laws of any jurisdiction or unless such sale is exempt from such registration requirements. The Company does not currently intend, and shall be under no obligation, to so register any or all of the Common Shares. Payment for all such Common Shares shall be made to the Company at the time the Option is exercised in such form as authorized by the Plan. After payment in full for the Common Shares purchased under the Option has been made, the Company shall take all such action as is necessary to deliver appropriate certificates evidencing the Common Shares purchased upon the exercise of the Option as promptly thereafter as is reasonably practicable.

 

(e) Satisfaction of Taxes and Tax Withholding Requirements. The Company shall be entitled and is authorized, if required by law in order to obtain favorable tax treatment, as reasonably determined by the Committee or the Board of Directors, to withhold (or secure payment from the Optionee in lieu of withholding) the amount of any applicable withholding taxes as provided in the Plan. The Company may defer delivery of any Common Shares pursuant to the exercise of the Option unless indemnified to its satisfaction in this regard.

 

 

  

  

  

 

     (f)Acceleration of Options. In the event that, during the periodbeginning on the date of this Agreement and ending on the first anniversary of this Agreement, the Company or its shareholders enter into one or more agreements to dispose of all or substantially all of the assets of the Company or 50% or more of the outstanding capital stock of the Company by means of sale (whether as a result of a tender offer or otherwise), merger, reorganization or liquidation in one or a series of related transactions (each an "Acceleration Event"), then the Company shall give notice to Optionee and Optionee shall have the right to exercise the full number of Common Shares subject to the Option during the period beginning on the date of such notice and ending on the day before the scheduled date of consummation of the Acceleration Event; provided that any exercise of the Option during such period shall be conditioned upon the consummation of the Acceleration Event and shall be effective only immediately before such consummation, except to the extent that the Optionee may indicate, in writing, that such exercise is unconditional with regard to all or part of the unaccelerated portion of the Option. Upon consummation of the Acceleration Event, the Option, whether or not accelerated, shall terminate and cease to be exercisable unless assumed by the successor. The grant of this Option shall not affect in any way the right of the Company to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets.

 

Section 4.Adjustments and Changes in the Common Shares Subject to the Option.

 

(a) In the event of any stock dividend or other distribution (whether in the form of Common Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off; combination, repurchase, or exchange of the Common Shares or other securities of the Company, or other similar extraordinary corporate transaction or event affects the Common Shares such that an adjustment is necessary in order to prevent extraordinary dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan to the Optionee, then the Committee shall proportionately adjust either or both (as necessary); (i) the number of Common Shares or other securities of the Company (or number and kind of other securities or property) subject to the Option; and (ii) the Option Exercise Price with respect to the Option; provided that, no such adjustment shall be required to be made in connection with the mere issuance by the Company of Common Shares or other securities of the Company, or warrants, options or other rights to purchase Common Shares or other securities of the Company, in any case, which is not made in conjunction with or as part of such an extraordinary corporate transaction.

 

(b) The Option Exercise Price and the number of Common Shares subject to this Option shall be subject to adjustment as follows:

 

 

  

  

  

 

 

If any time after May 13, 2005, the Company shall issue or sell common shares at a price per share less than the Option Exercise Price and fails to offer Optionee the opportunity to purchase common shares on the same terms, then the Option Exercise Price shall be reduced by multiplying the Option Exercise Price then in effect by a fraction: (1) The numerator of which shall be (A) the number of Common Shares outstanding on a fully-diluted basis immediately prior to the issuance of such additional Common Shares, plus (B) the number of Common Shares which the aggregate consideration, if any, received by the Company for the total number of such additional Common Shares so issued would purchase at the Option Exercise Price; and (2) The denominator of which shall be (A) the number of Common Shares outstanding on a fully-diluted basis immediately prior to the issuance of such additional Common Shares, plus (B) the number of such additional Common Shares so issued.

 

Upon any adjustment to the Option Exercise Price pursuant to 4(b) (i), above, the number of Common Shares subject to the Option shall be increased by multiplying the number of Common Shares subject to the Option by the inverse of the fraction determined under (i), above, so that the total Option Exercise Price, in the aggregate, for all of the Common Shares subject to the Option shall remain unchanged. For example, if the Option Exercise Price is, under 4(b)(i) above, to be multiplied by 1/2, then the number of shares subject to the Option shall be multiplied by 2,

 

For the purposes of this Section 4, the term "fully-diluted" shall mean all issued and outstanding Common Shares plus the total number of Common Shares available to be issued pursuant to the exercise of stock options (whether or not supported by sufficient authorized Common Shares) which are: (A) currently existing or outstanding, or (B) not yet granted but described in the Purchase Agreement.

 

For the purposes of this Section 4, if part or all of the consideration received by the Company in connection with the issuance of Common Stock or the issuance of any of the securities described in this Section 4 consists of services or property other than cash, such consideration shall be deemed to have a fair market value as reasonably determined in good faith by the Board of Directors of the Company,

 

(c)Notwithstanding anything to the contrary contained herein, there shall be no adjustment of the Option Exercise Price as a result of the issuance of Common Shares upon the exercise of stock options granted to senior management, employees, non-employee directors and other non-employees, such as consultants and independent contractors, of the Company, for up to 15% (fifteen percent) of the fully

diluted outstanding Common Shares Company existing as of the date hereof and granted at an exercise prices of not less than the fair market value of the Common Stock, determined in good faith by the board of directors of the Company as of the date of grant. Optionee acknowledges that the 892 shares subject to options existing as of May 13, 2005 and the options issued to Company lenders as of the date hereof shall not be included with the fifteen percent limit described in this Subsection 4(c).

 

 

  

  

  

 

 

Section 5.   Non-Assignability of the Option.

 

During the lifetime of the Optionee, the Option may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Optionee otherwise than by will or the laws of descent, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate, The Option may not be exercised during the lifetime of the Optionee except by him or his guardian or legal representative.

 

Section 6.   Exercise of the Option. Except as otherwise provided in this Agreement or in the Plan, the Option is exercisable only by the Optionee or his legal heirs and personal representatives; provided that the Company shall recognize nor be required to transfer record ownership of any shares to any person if such transfer would cause the termination of the Company's S Corp. election (if then in effect).

 

Section 7.   Restrictions on Transfers of Common Shares. Anything contained in this Agreement, in the Plan or elsewhere to the contrary notwithstanding, the Option may not be exercised if the Committee determines that the sale of Common Shares upon exercise of the Option may violate the Securities Act, the applicable state securities laws, or any other law or requirement of any governmental authority. An appropriate restrictive legend shall be placed on certificates representing Common Shares acquired upon the exercise of the Option, unless the Committee determines, upon the advice of counsel to the Company, that such legend is not required because of the existence of an effective registration statement registering the Common Shares under the Securities Act or because all applicable federal and state legal requirements have been satisfied.

 

Section 8.  No Rights of the Optionee as a Shareholder. The Optionee shall have no rights as a shareholder of the Company with respect to any Common Shares covered by the Option until the date of issuance of a certificate to the Optionee evidencing such Common Shares.

 

Section 9.  Confidentiality and Non-solicitation.

 

(a)Optionee hereby acknowledges that Optionee has or in thefuture may have access to the Company's trade secrets and proprietary or confidential information developed or acquired by or licensed to the Company, including, but not limited to, information regarding the Company's operations, business plans, customers or prospects, products, computer passwords or other information regarding network or systems access and research and development information, as such trade secrets and proprietary or confidential information may exist from time to time ("Confidential Information"). As consideration for the Option granted. to Optionee hereunder, °phone will not, at any time during Optionee's relationship with the Company, in whole or in part, disclose or cause any other person to disclose the Confidential Information to any other person or entity (except the Company) under any circumstances. In addition, Optionee will not during the term of Optionee's relationship with the Company, and for a period of one (1) year thereafter, solicit or assist any other person or entity in soliciting any employee of the Company to terminate the employee's employment with the Company under any circumstances.

 

 

  

  

  

 

(b)Optionee acknowledges that if there is a breach of any provision ofthis paragraph 9 by Optionee, the Company will suffer irreparable harm in that monetary damages would be inadequate to compensate the Company for such a breach, In the event of a breach or threatened breach of any such provisions by Optionee, in addition to such monetary and other relief as may be available, Optionee agrees that the Company will be entitled to injunctive relief as may be necessary to restrain any breach or further breach of such provisions by Optionee, without showing or providing any actual damages or loss sustained by the Company or notice to Optionee.

 

Section 10.Notices and Payments. All payments required or permitted to be made under the provisions of this Agreement, and all notices and other communications required or permitted to be given or delivered under this Agreement to the Company or to the Optionee, which notices or communications must be in writing, shall be deemed to have been given if delivered by hand, or mailed by first-class mail (postage prepaid), addressed as follows:

 

(a)  If to the Company, to:

 

The Guitammer Company 

P.O. Box 82

Westerville, OH 43086 

ATTN: President / CEO

 

(b)  If to the Optionee, to the address of the Optionee set forth at the conclusion of this Agreement.

 

The Company or the Optionee may, by notice given to the other in accordance with this Agreement, designate a different address for making payments required or permitted to the made, and for the giving of notices or other communications, to the party designating such new address. Any payment, notice or other communication required or permitted to be given in accordance with this Agreement shall be deemed to have been given when placed in the U.S. Mail, addressed and mailed as provided in this Agreement.

 

Section 11.General Provisions.

 

 (a)Governing Law. The rights and obligations of the Optionee and the Company under this Agreement shall be governed by and construed in accordance with the laws of the State of Ohio applicable to contracts made and performed entirely in such state (without giving effect to the conflict of laws principles thereof) in all respects, including, without limitation, matters relating to the validity, construction, interpretation, administration, effect, enforcement, and remedies provisions of the Plan and its rules and regulations, except to the extent preempted by applicable federal law.

 

 

  

  

  

 

(b) Captions. The captions contained in this Agreement are included only for convenience of reference and do not define, limit, explain or modify this Agreement or its interpretation, construction or meaning and are in no way to be construed as a part of this Agreement.

 

(c) Severability. If any provision of this Agreement or the application of any provision hereof to any person or any circumstance shall be determined to be invalid or unenforceable, then such determination shall not affect any other provision of this Agreement or the application of said provision to any other person or circumstance, all of which other provisions shall remain in full force and effect, and it is the intention of each party to this Agreement that if any provision of this Agreement is susceptible to two or more constructions, one of which would render the provision enforceable and the other or others of which would render the provision unenforceable, then the provision shall have the meaning which renders it enforceable.

 

(d) Number and Gender. When used in this Agreement, the number and gender of each pronoun shall be construed to be such number and gender as the context, circumstances or its antecedent may require.

(e) Amendment of Option. The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate the Option, prospectively or retroactively; provided that, any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would impair the rights of the Optionee or any holder or beneficiary of the Option shall not to that extent be effective without the consent of the Optionee, holder or beneficiary.

 

(f) Entire Agreement, This Agreement, including the Plan asamended from time to time and incorporated by reference herein, constitutes the entire agreement between the Company and the Optionee in respect of the subject matter of this Agreement, and this Agreement supersedes all prior and contemporaneous agreements between the parties hereto in connection with the subject matter of this Agreement. No officer, employee or other servant or agent of the Company, and no servant or agent of the Optionee, is authorized to make any representation, warranty or other promise not contained in this Agreement. No change, termination or attempted waiver of any of the provisions of this Agreement shall be binding upon any party hereto unless contained in a writing signed by the party to be charged.

 

(g)Rights and Remedies Cumulative. All rights and remedies of theCompany and of the Optionee enumerated in this Agreement shall be cumulative and, except as expressly provided otherwise in this Agreement, none shall exclude any other rights or remedies allowed at law or in equity, and each of said rights or remedies may be exercised and enforced concurrently.

 

 

  

  

  

 

(h) Duplicate Originals. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which, taken together, shall be deemed to constitute a single instrument.

 

(i) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns (including successive, as well as immediate, successors and assigns) of the Company.

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed to be effective as of the date first above written.

 

	The Guitammer Company 	 
Optionee:

	 	 
	By: /s/ Mark Luden	 
/s/ Francine I. Jacobs, Trustee 

	 	 
 

	 	 
	 	 
	 
Title: President

	Address:  	5050 Thornhill Lane 
	 	 	Dublin, OH 43017ex101.htm

Exhibit 10.1

 

 

CHINA CHEMICAL CORP.

1, Electric Power Road, Zhou Cun District

Zibo, People’s Republic of China 255330

July 7, 2011

Ms. Fengzhen Zhou

周凤珍

[Address]

Dear Ms. Zhou:

尊敬的周女士:

 

This is to confirm the terms of your appointment as a Non-Executive Director of China Chemical Corp. (the “Company”).

本任命书旨在确认您成为China Chemical Corp. 非雇员董事的任命条款。

Overall, in terms of time commitment, we expect your attendance at all the Board of Directors (the "Board") meetings and meetings of the audit, compensation and nomination committees of the Board (as applicable) and the General Meetings (if requested). In addition, you will be expected to devote appropriate preparation time ahead of each meeting.

总体而言,在时间上,我们希望您出席所有的董事会(“董事会”)会议,审计、薪酬和提名委员会的会议(如适用)和股东大会(如有要求)。此外,您需要在开会之前投入相应的时间为会议做准备。

 

By accepting this appointment, you have confirmed that you are able to allocate sufficient time to meet the expectations of this position.

 

通过接受此任命书,您确认能够分配足够的时间来达到职位要求。

 

1.             For and in consideration of the services to be performed by you, Company agrees to pay you as follows:

 

作为对您服务的回报,公司同意按以下规定向您支付薪酬:

 

$30,700 per year.

 

2.           The term of your appointment as a non-employee Director of the Company shall be for one year or until the next Annual Meeting of Stockholders.

 

 

非雇员董事的任期为一年或者直到下一届股东大会时为止。

 

3. You will undertake such travelling as may reasonably be necessary for the performance of your duties, including travelling for Board meetings and site visits if required.

 

您将会因履行董事职务的合理需要出差,包括在需要的情况下参加董事会议和实地考察。

 

4. You will undertake such duties and powers relating to the Company and any subsidiaries or associated companies of the Company (the “Group”) as the Board may from time to time reasonably request. Directors have the same general legal responsibilities to the Company as any other director.  The Board as a whole is collectively responsible for promoting the success of the Company by directing and supervising the Company’s affairs, inter alia, as follows:

 

 

 

  

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您将履行董事会不时合理要求的与公司或其子公司,关联公司( “集团”)相关的职责。董事与其他董事的一般法律职责相同。董事会作为一个整体,通过指导和审查公司以下的事务,共同负责促进公司的成功。

 

4.1 Providing entrepreneurial leadership of the Group within a framework of prudent and effective controls which enable risk to be assessed and managed; and

 

在能够评估和管理风险的谨慎与有效控制的框架下为集团提供企业领导

 

4.2 Setting the Group’s strategic aims, ensures that the necessary financial and human resources are in place for the Group to meet its objectives and reviews management performance; and

 

制定集团的战略目标,保证必要的财务与人力资源到位以使集团实现其目标并审查高管的绩效;

 

4.3 Setting the Group’s values and standards and ensures that its obligations to its shareholders and others are understood and met.

 

确定集团的价值与标准,确保集团对股东及其他人的责任得到理解与履行。

 

	
5.  

	
Confidential Information

 

机密信息

 

5.1 You undertake to the Company that you shall maintain in strict confidentiality all trade, business, technical or other information regarding the Company, the Group, its affiliated entities and their business affairs including, without limitation, all marketing, sales, technical and business know-how, intellectual property, trade secrets, identity and requirements of customers and prospective customers, the Company’s methods of doing business and any and all other information relating to the operation of the Company (collectively, the “Confidential Information”). You shall at no time disclose any Confidential Information to any person, firm, or entity, for any purpose unless such disclosure is required in order to fulfil your responsibilities as director.  You further undertake that you shall not use such Confidential Information for personal gain.

 

您承诺公司会对公司、集团及其关联实体的贸易、商业、技术及其他信息与业务,包括但不限于, 所有的市场推广、销售、技术和商业专有技术、知识产权、商业秘密、客户与潜在客户的身份和要求,公司进行业务的发稿时以及其他所有与公司运营相关的信息 (合称“机密信息”)严格保守秘密。您不得在任何时候对任何人、公司或者实体,以任何目的披露机密信息,除非该披露是为了履行董事的职责。您进一步保证不得使用机密信息谋取个人利益。

 

“Confidential Information” shall not include information that (i) is or becomes part of the public domain other than as a result of disclosure by you, (ii) becomes available to you on a non-confidential basis from a source other than the Company, provided that the source is not bound with respect to that information by a confidentiality agreement with the Group or is otherwise prohibited from transmitting that information by a contractual legal or other obligation, or (iii) can be proven by you to have been in your possession prior to disclosure of the information by the Company. In the event that you are requested or required (by oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or other process) to disclose any Confidential Information, it is agreed that you, to the extent practicable under the circumstances, will provide the Company with prompt notice of any such request or requirement so that the Company may seek an appropriate protective order or waive compliance with this paragraph 6. If a protective order or the receipt of a waiver hereunder has not been obtained, you may disclose only that portion of the Confidential Information which you are legally compelled to disclose.

 

 

  

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“机密信息”不包括 (i)公开信息或不是因为您的披露进入公共领域的信息,(ii)从非公司来源获知的非机密信息,只要该来源是不受与本集团保密协议的约束或因为合约义务或者其他责任而被禁止传播这些信息(iii)可证明本公司披露信息给您之前已经拥有该信息。如果你被请求或者要求(通过口头质询,审问,要求提供信息或文件,传票,民事调查要求或其他方式)披露任何机密信息事件,您同意在可行的情况下,及时通知通知公司该请求或要求,以便该公司可寻求适当的保护令或免除遵守第6段的责任。如果没有收到保护令或豁免,您只可披露您在法律上被迫披露部分。

 

5.2 Blackout Period.   You understand that we have a policy pursuant to which no officer, director or key executive may not engage in transactions in our stock during the period commencing two weeks prior to the end of a fiscal quarter and ending the day after the financial information for the quarter and year have been publicly released.  As a member of the Board, if you have information concerning our financial results at any time, you may not engage in transactions in our securities until the information is publicly disclosed.

 

5.3 禁售期。 您了解我们有禁售的政策。根据该政策任何高管、董事或者主要高管在财政季度最后两个的星期到该财政季度财务报表公布之前不得从事任何公司股票的交易。作为董事会成员,如果您在任何时候拥有跟公司财务结果有关的信息,在此信息成为公开消息之前,不能充实任何公司股票的交易。

 

	
6.  

	
Term and Termination

 

任期与终止

 

6.1 Subject to paragraph 6.2 hereunder, this appointment shall terminate immediately and without claim for compensation on the occurrence of any of the following events:

 

除以下第7.2条,发生以下事件后,董事任期马上结束且没有任何补偿:

 

6.1.1           if you resign as a director of the Company for any reason; and/or

 

如果您因任何原因辞去董事一职;

 

6.1.2           if you are removed or not re-appointed as a director of the Company at a General Meeting of the Company in accordance with the requirements of the Delaware General Corporate Law and/or any other applicable law or regulation (the "Law") and/or the Company's Certificate of Incorporation; and/or

 

如果公司股东会根据特拉华州公司法和/或任何其他适用的法律法规(“法律”)和/或公司章程的要求免去您董事的职位;

 

6.1.3           if you have been declared bankrupt or made an arrangement or composition with or for the benefit of your creditors; and/or

 

如果您已被宣布破产或者为您债权人的利益作出安排或和解;

 

 

  

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6.1.4           if you have been disqualified from acting as a director (including, but not limited to, an event in which you are declared insane or become of unsound mind or become physically incapable of performing your functions as director for a period of at least 60 days); and/or

 

如果您已经丧失作为董事的能力(包括但不限于,您被宣布精神失常或者精神不健全或者身体上超过无法履行作为董事的职责);

 

6.15           with your death; and/or

 

死亡;

 

6.16           if an order of a court having jurisdiction over the Company requires you to resign;

 

如果对公司有管辖权的法院命令您辞职。

 

6.2 Any termination of this letter of appointment shall be without payment of damages or compensation (except that you shall be entitled to any accrued Fees or Expenses properly incurred under the terms of this letter of appointment prior to the date of such termination).

 

该任命书的解除不包括对任何损失或薪酬的支付 (除非根据该任命书的条款,到解除之日,您有权获得的酬金和费用的支付)。

 

7. On termination of this appointment, you shall return all property belonging to a Group company, together with all documents, papers, disks and information, howsoever stored, relating to a Group company and used by you in connection with this position with the Company.

 

本任命书终止时,请将集团所有的所有财产与所有与集团相关但为您所用的文件、文章、磁盘和无论以任何方式存储的信息归还公司。

 

8. Subject to the proper performance of your obligations to the Company under this letter of appointment and any applicable law, the Company agrees that you will be free to accept other appointments and directorships provided that:

 

在您恰当地履行本任命书及任何法律规定的对公司职责的前提下,公司同意您可以自由接受其他任命担任其他公司董事,只要

 

8.1 They do not in any way conflict with the interests of the Company or any member of the Group; and

 

其他的任职不会与公司或者集团任何成员产生利益冲突;

 

8.2 They do not restrict you from devoting the necessary time and attention properly to services to be performed under this letter of appointment; and

 

其他的任职不会限制您投入必要的时间和进来恰当地履行本任命信规定的职责。

 

8.3 In the event that you become aware of any potential conflicts of interest, these must be disclosed to the Chairman and/or the Chief Executive Officer (the "CEO") of the Company as soon as they become apparent.

 

如果您了解到任何潜在的利益冲突,必须在冲突明确之后尽快向董事会主席和/或CEO披露。

 

 

 

  

4

  

 

 

9. The performance of individual directors and the Board and its committees is evaluated annually.  If, in the interim, there are any matters which cause you concern about your position, you should discuss them with the Chairman and/or the CEO as soon as is appropriate.

 

每位董事及整个董事会及其委员会的绩效按年度评估。如果在此期间,有任何事情引起您对所任职位的担心,请与董事会主席和/或CEO在合适的情况下尽早商谈。

 

10. In addition to any right pursuant to applicable law, occasions may arise when you consider that you need professional advice in the furtherance of your duties as a director.  Circumstances may occur when it will be appropriate for you to seek such advice from independent advisors at the Company’s expense, to the extent provided under applicable law and subject to the prior written approval of the CEO.

 

除了适用法律规定的任何权利,您可能会需要专业的建议来进一步履行董事职责。在某些情况下您可以想独立顾问寻求意见,而由公司支付相关费用,只要该咨询是在法律许可的范围内并经CEO 批准。

 

11. This letter refers to your appointment as a director of the Company and your (possible) membership of the audit, nomination and the remuneration committees of the board.

 

本任命书任命您为公司董事以及 (可能的)审计,提名和薪酬委员会成员。

 

12. You shall be obligated to comply at all times with the Company’s inside trading policies as in effect from time to time.

 

您将有义务遵守公司的内幕交易政策。

 

13. You shall discharge your general duties as a director pursuant to the Company's Certificate of Incorporation of the Company and applicable law.

 

 您将根据公司章程及适用的法律来履行董事职责。

 

14. This letter of appointment shall be governed by and construed in accordance with the law of the State of New York.

 

本任命书由纽约州法律管辖并根据纽约州法律解释。

 

 

[Signature page follows.]

 

 

【以下为签字页】

 

  

5

  

Please sign the attached copy of this letter and return it to the Company to signify your acceptance of the terms set out above.

请在本任命书上签字并将其返还给公司以示您接受以上条款。

Sincerely yours,

真诚地

CHINA CHEMICAL CORP.

/s/ Lu Feng

Name: Lu Feng

Title: Chief Executive Officer

 

Accepted and agreed

接受并同意

 

/s/ Fengzhen Zhou

 

Name of Director: Fengzhen Zhou

 

董事姓名:

Address: _ 15 Xi Ba He Bei Li, Building D, Apt 602 , Chaoyang District, Beijing.

地址:

 

 

 

 

6

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