Document:

Unassociated Document

    
      Exhibit
        10.1

       

      SEVENTH
        AMENDMENT TO CREDIT AGREEMENT

      

      THIS
        SEVENTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is entered into
        as of
        April 21, 2008, by and between INFOSONICS CORPORATION, a Maryland corporation
        ("Borrower"), and WELLS FARGO HSBC TRADE BANK, NATIONAL ASSOCIATION ("Trade
        Bank").

      

      RECITALS

      

      WHEREAS,
        Borrower is currently indebted to Trade Bank pursuant to the terms and
        conditions of that certain Credit Agreement between Borrower and Trade Bank
        dated as of October 6, 2005 as amended from time to time ("Credit
        Agreement").

      

      WHEREAS,
        Borrower is in default under the terms of the Credit Agreement for failure
        to
        meet the Pre-Tax Profit requirement of Exhibit A - Addendum to Credit Agreement
        for the fiscal quarter ending March 31, 2008 (the “Existing Default”);

      

      WHEREAS, Trade
        Bank and Borrower have agreed to certain changes in the terms and conditions
        set
        forth in the Credit Agreement and have agreed to amend the Credit Agreement
        to
        reflect said changes.

      

      NOW,
        THEREFORE, for valuable consideration, the receipt and sufficiency of which
        are
        hereby acknowledged, subject to the terms and conditions described herein,
        the
        parties hereto agree that the Credit Agreement shall be amended as follows;
        provided,
        however,
        that
        nothing shall terminate any security interests or other documents in favor
        of
        Trade Bank, all of which shall remain in full force and effect unless expressly
        amended hereby:

      

      1. The
        first
        sentence of Article I.
        CREDIT
        FACILITY,
        Section
        1.2 Credit
        Extension Limit
        is
        hereby deleted in its entirety, and the following substituted
        therefor:

      

      “On
        or
        before April 29, 2008, the aggregate outstanding amount of all Credit Extensions
        may at no time exceed the lesser of (a) Thirty Seven Million Dollars
        ($37,000,000) or (b) the Borrowing Base in effect from time to time; and
        on and
        after April 30, 2008, the aggregate outstanding amount of all Credit Extensions
        may at no time exceed the lesser of (a) Thirty Million Dollars ($30,000,000)
        or
        (b) the Borrowing Base in effect from time to time (“Overall Credit
        Limit”).”

      

      2. EXHIBIT
        B - REVOLVING CREDIT FACILITY SUPPLEMENT
        shall be
        deleted in its entirety, and the attached EXHIBIT
        B - REVOLVING CREDIT FACILITY SUPPLEMENT,
        a all
        terms of which are incorporated herein by this reference, shall be substituted
        therefor.

      

      3. Conditions
        Precedent. The
        obligation of Trade Bank to amend the terms and

      conditions
        of the Credit Agreement as provided herein, is subject to the fulfillment
        to
        Trade Bank’s satisfaction of all of the following conditions by no later than
        April 22, 2008:

      

      
        
          (a)
            Trade
            Bank shall have received, in form and substance satisfactory to Trade
            Bank,
            each of the following, duly executed:

        

      

      

      
        	 	
                (i)

              	
                This
                  Amendment.

              

      

      
        	 	
                (ii)

              	
                Revolving
                  Credit Loans Note

              

      

      
        	 	
                (iii)

              	
                Such
                  other documents as Trade Bank may require under any other section
                  of this
                  Amendment.

              

      

      

      
        
          (b)
            Other
            Fees and Costs.
            In
            addition to Borrower’s obligations under the Credit Agreement
            and the other Loan Documents, Borrower shall have paid to Trade Bank
            the full
            amount of all costs and expenses, including reasonable attorneys’ fees
            (including the allocated costs of Trade Bank’s in-house counsel) expended or
            incurred by Trade Bank in connection with the negotiation and preparation
            of
            this Amendment, for which Trade Bank has made demand. 

        

      

      

      (e) Interest.
        Interest under the Prior Revolving Credit Loan Note shall have been paid
        current.

      

      4. General
        Release.
        In
        consideration of the benefits provided to Borrower under the terms and
        provisions hereof, Borrower hereby agrees as follows ("General
        Release"):

      

      (a) Borrower,
        for itself and on behalf of its successors and assigns, does hereby release,
        acquit and forever discharge Trade Bank, all of Trade Bank's predecessors
        in
        interest, and all of Trade Bank's past and present officers, directors,
        attorneys, affiliates, employees and agents, of and from any and all claims,
        demands, obligations, liabilities, indebtedness, breaches of contract, breaches
        of duty or of any relationship, acts, omissions, misfeasance, malfeasance,
        causes of action, defenses, offsets, debts, sums of money, accounts,
        compensation, contracts, controversies, promises, damages, costs, losses
        and
        expenses, of every type, kind, nature, description or character, whether
        known
        or unknown, suspected or unsuspected, liquidated or unliquidated, each as
        though
        fully set forth herein at length (each, a "Released Claim" and collectively,
        the
        "Released Claims"), that Borrower now has or may acquire as of the later
        of: (i)
        the date this Amendment becomes effective through the satisfaction (or waiver
        by
        Trade Bank) of all conditions hereto; or (ii) the date that Borrower has
        executed and delivered this Amendment to Trade Bank (hereafter, the "Release
        Date"), including without limitation, those Released Claims in any way arising
        out of, connected with or related to any and all prior credit accommodations,
        if
        any, provided by Trade Bank, or any of Trade Bank's predecessors in interest,
        to
        Borrower, and any agreements, notes or documents of any kind related thereto
        or
        the transactions contemplated thereby or hereby, or any other agreement or
        document referred to herein or therein.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (b) Borrower
        hereby acknowledges, represents and warrants to Trade Bank as
        follows:

      

      
        
          (i)
            Borrower
            understands the meaning and effect of Section 1542 of the California
            Civil
Code
            which provides:

        

      

      

      "Section
        1542. GENERAL
        RELEASE; EXTENT.
        A
        GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW
        OR
        SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE,
        WHICH
        IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT
        WITH
        THE DEBTOR."

      

      (ii) With
        regard to Section 1542 of the California Civil Code, Borrower agrees to assume
        the risk of any and all unknown, unanticipated or misunderstood defenses
        and
        Released Claims which are released by the provisions of this General Release
        in
        favor of Trade Bank, and Borrower hereby waives and releases all rights and
        benefits which it might otherwise have under Section 1542 of the California
        Civil Code with regard to the release of such unknown, unanticipated or
        misunderstood defenses and Released Claims.

      

      (c) Each
        person signing below on behalf of Borrower acknowledges that he or she has
        read
        each of the provisions of this General Release. Each such person fully
        understands that this General Release has important legal consequences and
        each
        such person realizes that they are releasing any and all Released Claims
        that
        Borrower may have as of the Release Date. Borrower hereby acknowledges that
        it
        has had an opportunity to obtain a lawyer's advice concerning the legal
        consequences of each of the provisions of this General Release.

      

      (d) Borrower
        hereby specifically acknowledges and agrees that: (i) none of the
        provisions of this General Release shall be construed as or constitute an
        admission of any liability on the part of Trade Bank; (ii) the provisions
        of this General Release shall constitute an absolute bar to any Released
        Claim
        of any kind, whether any such Released Claim is based on contract, tort,
        warranty, mistake or any other theory, whether legal, statutory or equitable;
        and (iii) any attempt to assert a Released Claim barred by the provisions
        of this General Release shall subject Borrower to the provisions of applicable
        law setting forth the remedies for the bringing of groundless, frivolous
        or
        baseless claims or causes of action.

      

      5. Waiver
        of Certain Defaults.
        Borrower has failed to comply with certain financial covenants contained
        in the
        Credit Agreement. Subject to the terms and conditions set forth herein, and
        subject to the satisfaction of all conditions precedent contained herein,
        Trade
        Bank hereby waives the Existing Default for the period ending March 31, 2008.
        The foregoing waiver shall not be deemed to constitute a waiver of any other
        provision of the Credit Agreement nor is it a waiver of any subsequent breach
        of
        the same provisions.

      

      6. Miscellaneous.
        Except
        as specifically provided herein, all terms and conditions of the Credit
        Agreement shall remain in full force and effect, without waiver or modification.
        All terms defined in the Credit Agreement shall have the same meaning when
        used
        in this Amendment. This Amendment and the Credit Agreement shall be read
        together, as one document. This Amendment may be executed in any number of
        counterparts, each of which when executed and delivered shall be deemed to
        be an
        original, and all of which when taken together shall constitute one and the
        same
        Amendment.

      

      7. Reaffirmation;
        Certification.
        Borrower hereby remakes all representations and warranties contained in the
        Credit Agreement and reaffirms all covenants set forth therein. Borrower
        further
        certifies that as of the date of this Amendment there exists no Event of
        Default
        (other than the Existing Default) as defined in the Credit Agreement, nor
        any
        condition, act or event which with the giving of notice or the passage of
        time
        or both would constitute an Event of Default (other than the Existing
        Default).

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
        as
        of the day and year first written above.

       

      
        	 	 	 	 
	INFOSONICS
                CORPORATION, 	 	 	WELLS
                FARGO HSBC
                TRADE BANK,
	a
                Maryland
                corporation	 	 	
                NATIONAL
                  ASSOCIATION

              
	
              	 	 	
              
	
                By:     
                  /s/ Jeff
                  Klausner               

                  

                Title:     
                  Chief Financial
                  Officer               
                  

              	 	 	
                By:     
                  /s/ Edith
                  Lim              
                  

                 

                Title:     
                  Vice
                  President/PrincipalEMPLOYMENT
      AGREEMENT

     

    This
      EMPLOYMENT AGREEMENT is made and entered into as of the 21st
      day of
      April, 2008 (the “Agreement”),
      by
      and between CHINA GREEN AGRICULTURE, INC., a Nevada corporation (the
“Company”),
      having its principal place of business at 3rd
      Floor,
      Borough A, Block A. No.181, South Taibai Road, Xi’an, Shaanxi Province, People’s
      Republic of China 710065, and (the “Employee”)
      Henry
      Huan Chen, with PRC Passport No. G24709639 (collectively the “Parties”).
      

    

    WITNESSETH:

     

    WHEREAS,
      the Company is engaged in the business the research, development, production
      and
      distribution of humic acid organic liquid compound fertilizer (the “Business”);
      and

     

    WHEREAS,
      Employee has represented that he has the experience, background and expertise
      necessary to enable him to be the Company’s Chief Financial Officer; and

     

    WHEREAS,
      based on such representation, and the Company’s reasonable due diligence, the
      Company wishes to employ Employee as its Chief Financial Officer, and Employee
      wishes to be so employed, in each case, upon the terms hereinafter set
      forth.

     

    NOW,
      THEREFORE, in consideration of the foregoing premises and the mutual covenants
      and agreements herein contained, and other good and valuable consideration,
      the
      Parties agree as follows:

     

    1.  DEFINITIONS.
      As
      used
      herein, the following terms shall have the following meanings:

     

    1.1  “Affiliate”
means
      any Person controlling, controlled by or under common control with the
      Company.

     

    1.2  “Board”
means
      the Board of Directors of the Company.

     

    1.3  “Common
      Stock”
means
      the Company’s $.001 par value per share common stock.

     

    1.4  “Cause”
means
      (i) conviction of a felony, or a plea of no lo contender whether or not
      committed in the course of his employment by the Company; (ii) Employee’s
      willful refusal to carry out instructions of the Chief Executive Officer or
      the
      Board which are consistent with Executive’s role as Chief Financial Officer; or
      the breach of any material representation, warranty or agreement between
      Employee and Company;

     

    1.5  “Date
      of Termination”
means
      (a) in the case of a termination for which a Notice of Termination (as
      hereinafter defined in Section 5.4) is required, 30 days from the date of actual
      receipt of such Notice of Termination or, if later, the date specified therein,
      as the case may be, and (b) in all other cases, the actual date on which the
      Employee’s employment terminates during the Term of Employment (as hereinafter
      defined in Section 3) (it being understood that nothing contained in this
      definition of “Date of Termination” shall affect any of the cure rights provided
      to the Employee or the Company in this Agreement).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    1.6  “Disability”
means
      Employee’s inability to render, for a period of three consecutive months,
      services hereunder due to his physical or mental incapacity.

     

    1.7  “Effective
      Date”
means
      April 23, 2008. 

     

    1.8  “Person(s)”
means
      any individual or entity of any kind or nature, including any other person
      as
      defined in Section 3(a)(9) of the Securities Exchange Act of 1934, and as used
      in Sections 13(d) and 14(d) thereof.

     

    1.9  “Prospective
      Customer”
shall
      mean any Person which has either (a) entered into a nondisclosure agreement
      with
      the Company or any Company subsidiary or Affiliate or (b) has within the
      preceding 12 months received a currently pending and not rejected written
      proposal in reasonable detail from the Company or any of the Company’s
      subsidiary or Affiliate.

     

    2.  EMPLOYMENT.

     

    2.1  Agreement
      to Employ.
      Effective as of the Effective Date, the Company hereby agrees to employ
      Employee, and Employee hereby agrees to serve, subject to the provisions of
      this
      Agreement, as an officer and employee of the Company.

     

    2.2  Duties
      and Schedule.
      Employee shall serve as the Company’s Chief Financial Officer and shall have
      such responsibilities as designated by the Company’s Chief Executive Officer or
      the Board that are not inconsistent with applicable laws, regulations and rules.
      Employee shall report directly to the Company’s Chief Executive Officer or the
      Board as circumstances may require.

     

    3.  TERM
      OF EMPLOYMENT.
      Unless
      Employee’s employment shall sooner terminate pursuant to Section 5, the Company
      shall employ Employee for a term commencing on the Effective Date and ending
      on
      the third anniversary thereof (the “Term”).
      The
      period during which Employee is employed pursuant to this Agreement shall be
      referred to as the “Term”
or
      the
“Term
      of Employment”.

     

    4.  COMPENSATION.

     

    4.1  Salary.
      Employee’s salary during the Term shall be $150,000 per year (the “Salary”),
      payable in one payment of $12,500 per payment each month. The Board will review
      Employee’s Salary at least once per year and may, in its discretion, increase
      (but not decrease)
      the
      Salary
      in accordance with the Company’s compensation policies. A discretionary bonus,
      if any, may be paid each year as determined solely by the Board. 

     

    4.2  Options/Restricted
      Common Stock.
      As soon
      as practicable after the Effective Date, Employee shall be awarded options
      to
      purchase 40,000 Common Stock, exercisable at $6.00 per share, 30% of which
      shall
      vest on June 30, 2008 and 70% of which shall vest on June 30, 2009, unless
      otherwise earlier terminated, such grant shall be exclusively governed by the
      terms of an Option Grant Agreement (“Option Grant Agreement”) between the
      Company and Employee. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4.3  Vacation.
      Employee shall be entitled to ten
      (10) days
      of paid
      vacation per year taken at such times so as to not materially impede his duties
      hereunder. Employee shall be entitled to a pro
      rata
      number
      of days of paid vacation during the period beginning on the Effective Date
      through the end of the first fiscal year. Vacation days that are not taken
      may
      not be carried over into future years. Illness days shall be consistent with
      the
      Company’s standard policies.

     

    4.4  Business
      Expenses.
      Employee shall be reimbursed by the Company for all ordinary and necessary
      expenses incurred by Employee in the performance of his duties hereunder on
      behalf of the Company, such expenses not to exceed $400 per month without the
      prior written approval of the Company. Additionally, the Employee shall be
      entitled to use a car provided by the Company for daily commute and business
      purpose and the expenses related to the car, such as insurance and maintenances,
      shall be afforded by the Company. 

     

    4.5  Insurances
      and Social Welfares.
      The
      Company shall provide all the necessary insurances and social welfares,
      including but not limited to medical insurance, injury insurance, retirement
      insurance, unemployment insurance and housing fund, to the Employee according
      to
      relating policies of the Company and the relevant laws and regulations of
      People’s Republic of China.

     

    5.  TERMINATION.

     

    5.1  Termination
      Due to Death or Disability.
      

     

    5.1.1  Death.
      This
      Agreement shall terminate immediately upon the death of Employee. Upon
      Employee’s death, Employee’s estate or Employee’s legal representative, as the
      case may be, shall be entitled to Employee’s accrued and unpaid Salary and
      vacation as of the date of Employee’s death, plus all other compensation and
      benefits that were vested through the date of Employee’s death.

     

    5.1.2  Disability.
      In the
      event of Employee’s Disability, this Agreement shall terminate and Employee
      shall be entitled to (a) accrued and unpaid vacation through the first date
      that
      a Disability is determined; and (b) all other compensation and benefits that
      were vested through the first date that a Disability has been
      determined.

     

    5.2  
      Termination .
      Both
      the Company and the Employee may terminate the employment hereunder by delivery
      of written notice to the other party at least thirty (30) days prior to
      termination date (the “Early Termination”). Upon the effective date of the Early
      Termination, Employee shall be entitled to (a) accrued and unpaid vacation
      through such effective date; and (b) all other compensation and benefits that
      were vested through such effective date. 

     

    5.3  
      Notice of Termination.
      Any
      termination of the Employment by the Company or the Employee shall be
      communicated by a notice in accordance with Section 8.4 of this Agreement (the
      “Notice
      of Termination”).
      Such
      notice shall (a) indicate the specific termination provision in this Agreement
      relied upon and (b) if the termination date is for Cause, the date on which
      the
      Employee’s employment is to be terminated.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    5.4  
      Payment.
      The
      Employee shall not be entitled to severance payments upon any termination
      provided in Section 5 herein. Except as otherwise provided in this Agreement,
      any payments to which the Employee shall be entitled under this Section 5,
      including, without limitation, any economic equivalent of any benefit, shall
      be
      made as promptly as possible following the Date of Termination, but in no event
      more than 30 days after the Date of Termination. If the amount of any payment
      due to the Employee cannot be finally determined within 30 days after the Date
      of Termination, such amount shall be reasonably estimated on a good faith basis
      by the Company and the estimated amount shall be paid no later than thirty
      (30)
      days after such Date of Termination. As soon as practicable thereafter, the
      final determination of the amount due shall be made and any adjustment requiring
      a payment to Employee shall be made as promptly as practicable. The payment
      of
      any amounts under this Section 5 shall not affect Employee’s rights to receive
      any workers’ compensation benefits. Notwithstanding any provision to the
      contrary in this Agreement, the vesting or termination of vested options shall
      be solely governed by the terms of the Option Grant Agreement.

     

    6.  EMPLOYEE’S
      REPRESENTATION.
      The
      Employee represents and warrants to the Company that: (a) he is subject to
      no
      contractual, fiduciary or other obligation which may affect the performance
      of
      his duties under this Agreement; (b) he has terminated, in accordance with
      their
      terms, any contractual obligation which may affect his performance under this
      Agreement; and (c) his employment with the Company will not require him to
      use
      or disclose proprietary or confidential information of any other person or
      entity.

     

    7.  NON-COMPETITION:
      NON-DISCLOSURE; INVENTIONS.

     

    
      7.1  Trade
        Secrets.
        Employee
        acknowledges that his employment position with the Company is one of trust
        and
        confidence. Employee further understands and acknowledges that, during the
        course of Employee's employment with the Company, Employee will be entrusted
        with access to certain confidential information, specialized knowledge and
        trade
        secrets which belong to the Company, or its subsidiaries, including, but
        not
        limited to, their methods of operation and developing customer base, its
        manner
        of cultivating customer relations, its practices and preferences, current
        and
        future market strategies, formulas, patterns, patents, devices, secret
        inventions, processes, compilations of information, records, and customer
        lists,
        all of which are regularly used in the operation of their business and which
        Employee acknowledges have been acquired, learned and developed by them only
        through the expenditure of substantial sums of money, time and effort, which
        are
        not readily ascertainable, and which are discoverable only with substantial
        effort, and which thus are the confidential and the exclusive Property of
        the
        Company and its subsidiaries (hereinafter “Trade Secrets”). Employee covenants
        and agrees to use his best efforts and utmost diligence to protect those
        Trade
        Secrets from disclosure to third parties. Employee further acknowledges that,
        absent the protections afforded the Company and its subsidiaries in Section
        7,
        Employee would not be entrusted with any of such Trade Secrets. Accordingly,
        Employee agrees and covenants (which agreement and covenant shall survive
        the
        termination of this Agreement regardless of the reason) as follows:

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    7.1.1  Employee
      will at no time take any action or make any statement that will disparage or
      discredit the Company, any of its subsidiaries or their products or
      services;

     

    7.1.2  During
      the period of Employee's employment with the Company and for 60 months
      immediately following the termination of such employment, Employee will not
      disclose or reveal to any person, firm or corporation other than in connection
      with the business of the Company and its subsidiaries or as may be required
      by
      law, any Trade Secret used or useable by the Company or any of its subsidiaries,
      divisions or Affiliates (collectively the “Companies”)
      in
      connection with their respective businesses, known to Employee as a result
      of
      his employment by the Company, or other relationship with the Companies, and
      which is not otherwise publicly available. Employee further agrees that during
      the term of this Agreement and at all times thereafter, he will keep
      confidential and not disclose or reveal to any person, firm or corporation
      other
      than in connection with the business of the Companies or as may be required
      by
      applicable law, any information received by him during the course of his
      employment with regard to the financial, business, or other affairs of the
      Companies, their respective officers, directors, customers or suppliers which
      is
      not publicly available; 

     

    7.1.3  Upon
      the
      termination of Employee's employment with the Company, Employee will return
      to
      the Company all documents, customer lists, customer information, product
      samples, presentation materials, drawing specifications, equipment and other
      materials relating to the business of any of the Companies, which Employee
      hereby acknowledges are the sole and exclusive property of the Companies or
      any
      one of them. Nothing in this Agreement shall prohibit Employee from retaining,
      at all times any document relating to his personal entitlements and obligations,
      his rolodex, his personal correspondence files; and any additional personal
      property;

     

    7.1.4  During
      the term of the Agreement and, for a period of six (6) months immediately
      following the termination of the Employee's employment with the Company,
      Employee will not: compete, or participate as a shareholder, director, officer,
      partner (limited or general), trustee, holder of a beneficial interest,
      employee, agent of or representative in any business competing directly with
      the
      Companies without the prior written consent of the Company, which may be
      withheld in the Company’s sole discretion; provided, however, that nothing
      contained herein shall be construed to limit or prevent the purchase or
      beneficial ownership by Employee of less than five percent of any security
      registered under Section 12 or 15 of the Securities Exchange Act of 1934;

     

    7.1.5  During
      the term of the Agreement and, for a period of eighteen
      (18) months immediately following the termination of the Employee's employment
      with the Company, Employee will not:

     

    7.1.5.1  solicit
      or accept competing business from any customer of any of the Companies or any
      person or entity known by Employee to be or have been, during the preceding
      18
      months, a customer or Prospective Customer of any of the Companies without
      the
      prior written consent of the Company;

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    7.1.5.2  encourage,
      request or advise any such customer or Prospective Customer of any of the
      Companies to withdraw or cancel any of their business from or with any of the
      Companies; or 

     

    7.1.6  Employee
      will not during the period of his employment with the Company and, subject
      to
      the provisions hereof for a period of eighteen (18) months immediately following
      the termination of Employee's employment with the Company,

     

    7.1.6.1  conspire
      with any person employed by any of the Companies with respect to any of the
      matters covered by this Section 7;

     

    7.1.6.2  encourage,
      induce or solicit any person employed by any of the Companies to facilitate
      Employee's violation of the covenants contained in this Section 7;

     

    7.1.6.3  assist
      any entity to solicit the employment of any employee of any of the Companies;
      or

     

    7.1.6.4  employ
      or
      hire any employee of any of the Companies, or solicit or induce any such person
      to join the Employee as a partner, investor, coventurer, or otherwise encourage
      or induce them to terminate their employment with any of the Companies.

     

    7.2  Employee
      expressly acknowledges that all of the provisions of this Section 7 of this
      Agreement have been bargained for and Employee's agreement hereto is an integral
      part of the consideration to be rendered by the Employee which justifies the
      rate and extent of the compensation provided for hereunder. 

     

    7.3  Employee
      acknowledges and agrees that a violation of any one of the covenants contained
      in this Section 7 shall cause irreparable injury to the Company, that the remedy
      at law for such a violation would be inadequate and that the Company shall
      thus
      be entitled to temporary injunctive relief to enforce that covenant until such
      time that a court of competent jurisdiction either (a) grants or denies
      permanent injunctive relief or (b) awards other equitable remedy(s) as it sees
      fit. 

     

    7.4  Successors.

     

    7.4.1  Employee.
      This
      Agreement is personal to Employee and, without the prior express written consent
      of the Company, shall not be assignable by Employee, except that Employee’s
      rights to receive any compensation or benefits under this Agreement may be
      transferred or disposed of pursuant to testamentary disposition, intestate
      succession or a qualified domestic relations order or in connection with a
      Disability. This Agreement shall inure to the benefit of and be enforceable
      by
      Employee’s estate, heirs, beneficiaries, and/or legal
      representatives.

     

    7.4.2  The
      Company.
      This
      Agreement shall inure to the benefit of and be binding upon the Company and
      its
      successors and assigns. 

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    7.5  Inventions
      and Patents.
      The
      Company shall be entitled to the sole benefit and exclusive ownership of any
      inventions or improvements in products, processes, or other things that may
      be
      made or discovered by Employee while he is in the service of the Company, and
      all patents for the same. During the Term, Employee shall do all acts necessary
      or required by the Company to give effect to this section and, following the
      Term, Employee shall do all acts reasonably necessary or required by the Company
      to give effect to this section. In all cases, the Company shall pay all costs
      and fees associated with such acts by Employee.

     

    8.  MISCELLANEOUS.

     

    8.1  Indemnification.
      The
      Company and each of its subsidiaries shall, to the maximum extent provided
      under
      applicable law, indemnify and hold Employee harmless from and against any
      expenses, including reasonable attorney’s fees, judgments, fines, settlements
      and other legally permissible amounts (“Losses”),
      incurred in connection with any proceeding arising out of, or related to,
      Employee’s employment by the Company, other than any such Losses incurred as a
      result of Employee’s negligence or willful misconduct. The Company shall, or
      shall cause a subsidiary thereof to, advance to Employee any expenses, including
      attorney’s fees and costs of settlement, incurred in defending any such
      proceeding to the maximum extent permitted by applicable law. Such costs and
      expenses incurred by Employee in defense of any such proceeding shall be paid
      by
      the Company or applicable subsidiary in advance of the final disposition of
      such
      proceeding promptly upon receipt by the Company of (a) written request for
      payment; (b) appropriate documentation evidencing the incurrence, amount and
      nature of the costs and expenses for which payment is being sought; and (c)
      an
      undertaking adequate under applicable law made by or on behalf of Employee
      to
      repay the amounts so advanced if it shall ultimately be determined pursuant
      to
      any non-appealable judgment or settlement that Employee is not entitled to
      be
      indemnified by the Company or any subsidiary thereof. the Company will provide
      Employee with coverage under all director’s and officer’s liability insurance
      policies which is has in effect during the Term, with no deductible to
      Employee.

     

    8.2  Applicable
      Law.
      Except
      as
      may be otherwise provided herein, this Agreement shall be governed by and
      construed in accordance with the laws of the State of New York, applied without
      reference to principles of conflict of laws.

     

    8.3  Amendments.
      This
      Agreement may not be amended or modified otherwise than by a written agreement
      executed by the parties hereto or their respective successors or legal
      representatives. 

     

    8.4  Notices.
      All
      notices and other communications hereunder shall be in writing and shall be
      given by hand-delivery to the other party or by registered or certified mail,
      return receipt requested, postage prepaid, addressed as follows:

     

    If
      to the
      Employee: 

    

    Henry
      Chen 

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    [Add
      address] 

    Telephone:
      

    Mobile:
      13911530223

    E-mail:
      huanchen223@hotmail.com

    

    With
      a
      copy to (which shall not constitute a notice):

    

     

    If
      to the
      Company:

    

    3rd
      Floor, Borough A, Block A. No.181, South Taibai Road, 

    Xi’an,
      Shaanxi Province, 

    People’s
      Republic of China 710065

    Attn:
      Mr. Tao Li

    Tel:
      (86-29) 8826-6368

    

    With
      a copy to (which
      shall not constitute notice):

    

    Guzov
      Ofsink, LLC

    600
      Madison Avenue, 14th
      Floor

    New
      York, New York 10022

    Attn:
      Darren Ofsink

    Tel:
      212-371-8008

    

    Or
      to
      such other address as either party shall have furnished to the other in writing
      in accordance herewith. Notices and communications shall be effective when
      actually received by the addressee.

    

    8.5  Withholding.
      The
      Company may withhold from any amounts payable under the Agreement, such federal,
      state and local income, unemployment, social security and similar employment
      related taxes and similar employment related withholdings as shall be required
      to be withheld pursuant to any applicable law or regulation.

     

    8.6  Severability.
      The
      invalidity or unenforceability of any provision of this Agreement shall not
      affect the validity or enforceability of any other provision of this Agreement,
      and any such provision which is not valid or enforceable in whole shall be
      enforced to the maximum extent permitted by law.

     

    8.7  Captions.
      The
      captions of this Agreement are not part of the provisions and shall have no
      force or effect.

     

    8.8  Entire
      Agreement.
      This
      Agreement contains the entire agreement among the parties concerning the subject
      matter hereof and supersedes all prior agreements, understandings, discussions,
      negotiations and undertakings, whether written or oral, between the parties
      with
      respect thereto. 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    8.9  Survivorship.
      The
      respective rights and obligations of the parties hereunder shall survive any
      termination of this Agreement or the Employee’s employment hereunder to the
      extent necessary to the intended preservation of such rights and
      obligations.

     

    8.10  Waiver.
      Either
      Party's failure to enforce any provision or provisions of this Agreement shall
      not in any way be construed as a waiver of any such provision or provisions,
      or
      prevent that party thereafter from enforcing each and every other provision
      of
      this Agreement.

     

    8.11  Joint
      Efforts/Counterparts.
      Preparation
      of this Agreement shall be deemed to be the joint effort of the parties hereto
      and shall not be construed more severely against any party. This Agreement
      may
      be signed in two or more counterparts, each of which shall be deemed an original
      and all of which together shall constitute one and the same
      instrument.

     

    8.12  Representation
      by Counsel.
      Each
      Party hereby represents that it has had the opportunity to be represented by
      legal counsel of its choice in connection with the negotiation and execution
      of
      this Agreement.

     

    8.13  Section
      409A.
      Notwithstanding anything in this Agreement or elsewhere to the contrary, (i)
      if,
      based on Internal Revenue Service guidance available as of the date the payment
      or provision of any amount or other benefit is specified to be made under this
      Agreement or elsewhere, Employee reasonably determines that the payment or
      provision of such amount or other benefit at such specified time may potentially
      subject Employee to “additional tax” under section 409A(a)(1)(B) of the Internal
      Revenue Code of 1986, as amended (together with any interest or penalties
      imposed with respect to, or in connection with, such tax, a “409A
      Tax”)
      with
      respect to the payment of such amount or the provision of such benefit, and
      if
      payment or provision thereof at a later date would likely avoid any such 409A
      Tax, and if the deferral of such payment will not create an additional expense
      to the Company, then the payment or provision thereof shall be postponed to the
      earliest business day on which Employee reasonably determines such amount or
      benefit can be paid or provided without incurring any such 409A Tax, but in
      no
      event later than the first business day after the six-month anniversary of
      the
      Date of Termination (the “Delayed
      Payment Date”).
      The
      Company and Employee may agree to take other actions to avoid the imposition
      of
      409A Tax at such time and in such manner as permitted under Section
      409A.

     

    --
      Signature page follows --

    
 

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF,
      the
      parties have executed this Agreement as of the day and year first above
      written.

     

     

    
      	
              EMPLOYEE:

               

               

               

               

              /s/
                Henry Huan
                Chen                                       
                

              Henry
                Huan Chen

            	
              CHINA GREEN AGRICULTURE,
                INC.

               

               

               

              By:
                /s/
                Tao
                Li                                                              
                

              Tao
                Li

              Chief
                Executive Officer

            

    

    

    

    
      
        
        

      

      
        10

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