Document:

f8k050610ex10iii_sunnyside.htm

Exhibit
10.3

    Number:

    EMPLOYMENT
CONTRACT

    (2009
Version)

     

    
      
        
          
            	
                    Full
      Name of Party A (Employer)

                  	
                     

                  
	 	Jiangsu
      Dambon Mechanical & Electrical Co., Ltd.
	
                    Type
      of Business Registration

                  	
                    Limited
      Liability Company

                  	
                    Legal
      Representative (or
      Principal Officer)

                  	
                    Yuan
      Qihong

                  
	
                    Registered
      Address

                  	
                    10-8
      Meiya Road, Heping Village, Baohua Town, Jurong

                  	
                    Zip
      Code:

                  	
                    212415

                  
	
                    Principal
      Place of Business

                  	
                    10-8
      Meiya Road, Heping Village, Baohua Town, Jurong

                  	
                    Zip
      Code:

                  	
                    212415

                  
	
                    Social
      Security No.

                  	
                    52080166

                  	
                    Organization
      Code

                  	
                    797432141

                  
	
                    Contact
      Dept.

                  	
                    Admin.
      Dept.

                  	
                    Contact
      Person

                  	
                    Yu
      Lei

                  	
                    Contact
      Phone

                  	
                    025-85818009

                  

          

           

           

          
            	
                    Name
      of Party B (Employee)

                  	
                    

                      

                        Yan
      Liang

                      

                    

                  	
                    Sex

                  	
                    Male

                  	
                    Education
      Background

                  	
                    

                      

                        University

                      

                    

                  
	
                    Date
      of Birth

                  	
                    

                      

                        March
      1979

                      

                    

                  	
                    Date
      of Employment

                  	
                    

                      

                        February
      2010

                      

                    

                  
	
                    Identity
      Card Number

                  	
                    

                      

                        432801197903231015

                      

                    

                  

          

        

      

    

     

    JIANGSU
PROVINCIAL DEPARTMENT OF LABOR AND SOCIAL SECURITY

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    In
accordance with the Labor Law
of the People’s Republic of China, the Regulations of Jiangsu Province on
Labor Contract and other relevant laws and regulations, this Employment
Contract is made by and between Party A and Party B on the basis of the
principle of equality and voluntariness, justice and equity, amicable
consultations, and good faith under the following terms and
conditions:

    

    
      	
              I.  

            	
              TERM
      OF EMPLOYMENT CONTRACT

            

    

    

    It is
mutually agreed that the term of the Employment Contract shall be defined in
Type  A   as
set forth below:

    

    
      	
              A.  

            	
              Fixed-term
      Employment Contract shall start from February 10,
      2010 and end on February 9,
      2013. Upon expiration, this Contract can be renewed after mutual
      agreement reached by both parties through consultations. This Contract
      shall be terminated if the two parties or either party refuses to renew
      the Contract.

            

    

    

    
      	
              B.  

            	
              Open-ended
      Employment Contract shall start from _______________ (dd/mm/yyyy). If an
      employee proposes or agrees to renew and conclude the Employment Contract
      in any of the circumstances as specified in Article 14 of the Labor Contract Law, an
      open-ended employment contract shall be
  concluded.

            

    

    

    
      	
              C.  

            	
              This
      Contract shall take effect as from February 10,
      2010 and shall be terminated upon completion of the job assignment
      of  (Such job
      assignment shall be determined by Party A prior to the execution of this
      Contract and the target to be achieved shall be well defined and
      specific.)

            

    

     

    
      	
              II.  

            	
              SCOPE
      AND PLACE OF WORK

            

    

     

    
      	
              1.  

            	
              Scope
      of Work

            

    

    

    
      	
              (1)  

            	
              After
      consultation with Party A, Party B shall be engaged in the work of Business Management in
      the capacity of CFO based upon the requirements of Party A. Party A
      may reassign Party B to other work post on the basis of the principle of
      rationalization and good faith according to the needs of the work and the
      appraisal results of Party B’s performance. Party B shall submit itself to
      Party A’s arrangements.

            

    

    

    
      	
              (2)  

            	
              The
      scope and requirements for Party B’s work arranged by Party A shall
      conform to the rules and regulations lawfully established and published by
      Party A. Party B shall perform its labor obligations in accordance with
      the scope and requirements for the work arranged by Party
    A.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	
              2.  

            	
              Place of Work: 10-8 Meiya Road,
      Heping Village, Baohua Town,
Jurong

            

    

    

    
      	
              III.  

            	
              WORKING
      HOURS, REST AND VACATIONS

            

    

    

    
      	
              (1)  

            	
              Both
      parties, as a result of amicable consultations, agree that Party B shall
      work 40 hours a week on the average, and the working hours and rest shall
      be determined by Type A set forth
      below:

            

    

    

    
      	
              A.  

            	
              Party
      A practices the working hour system under which Party B shall work for
      eight (8)
      hours a day.

            

    

    

    The
specific work schedule is arranged by Party A as follows:

    Workday:                       Monday          to    Friday      ;

    Working
Hour:                     
am. to                          
pm.

    Rest Day:
Saturday and
Sunday

    

    
      	
              B.  

            	
              Party
      A practices the three-shift workday system under which Party B shall
      work shifts a
      day.

            

    

    

    
      	
              C.  

            	
              Party
      A shall assign Party B to the job of                          
      , which belongs to the flexible working hour system. Both parties
      shall execute the provisions of flexible working hour system in accordance
      with the law.

            

    

    

    
      	
              D.  

            	
              Party
      A shall assign Party B to the job of                    
      , which belongs to the comprehensive working hour calculation
      system. Both parties shall execute the provisions of comprehensive working
      hour calculation system in accordance with the
  law.

            

    

    

    
      	
              (2)  

            	
              Party
      A shall strictly abide by the statutory working hours and exercise the
      control on the overtime work to guarantee Party B’s good rest, physical
      and mental health. When Party A must arrange for Party B to work overtime
      due to the job requirements, Party A shall consult with the labor union
      and Party B to obtain their consents, and shall grant Party B compensatory
      leave or overtime pay for working overtime in accordance with the
      law.

            

    

    

    
      	
              (3)  

            	
              Party
      A shall arrange for Party B to take annual vacation with
    pay.

            

    

     

    
      	
              IV.  

            	
              LABOR
      PROTECTION AND WORKING CONDITIONS

            

    

    

    
      	
              (1)  

            	
              For
      any work post with the possible hazard of occupational disease, Party A
      shall fulfill its obligation of telling the truth to Party B, educate
      Party B on occupational safety and health, prevent accidents in the
      process of work and reduce occupational
hazards.

            

    

    

    
      	
              (2)  

            	
              Party
      A shall provide Party B with occupational safety and health conditions
      conforming to the provisions of the State and necessary articles of labor
      protection, and provide regular health examination for Party B engaged in
      work with occupational hazards.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
              (3)  

            	
              Party
      B must strictly abide by rules of safe operation in the process of work.
      Party B shall have the right to refuse to operate if the management
      personnel of Party A command the operation in violation of rules and
      regulations or force Party B to run risks in
  operation.

            

    

    

    
      	
              (4)  

            	
              Party
      A shall provide Party B with special protection in accordance with the
      provisions of the State concerning the special protection to female and
      juvenile workers.

            

    

    

    
      	
              (5)  

            	
              When
      Party B suffers from illness or non-industrial injury, Party A shall
      execute the provisions of the State concerning the medical treatment
      period.

            

    

    

    
      	
              V.  

            	
              REMUNERATIONS

            

    

    

    Party A
shall, at least once a month, pay the wage to Party B in the form of currency.
The wage paid to Party B shall not be deducted or delayed without justification.
When Party B provides its normal labor within the statutory working hour, the
wage paid to Party B by Party A shall not be lower than the local standard on
minimum wages.

    

    
      	
              (1)  

            	
              Party
      A undertakes that the 15th day of each
      month shall be the date of wage
payment.

            

    

    

    
      	
              (2)  

            	
              Party
      B’s monthly wage during the probation period shall be RMB12,000.00.

            

    

    

    
      	
              (3)  

            	
              After
      mutual agreement by both parties, Party B’s remunerations are determined
      by Type A
      set forth below:

            

    

     

    
      	A.  
      	Party B’s
      remunerations shall be determined by the internal wage distribution
      regulations as defined in the bylaws formulated by Party A in accordance
      with the law. The monthly wage paid to Party B shall be RMB15,000.00 
      based on its work post
	 	 
	 B.  
      	

              Party
      A shall adopt the internal wage distribution regulations integrating basic
      wage with performance pay. The basic wage paid to Party B shall be
      determined as RMB /month
      and readjusted in the later time in accordance with the internal wage
      distribution regulations. The performance pay shall be determined in
      accordance with the internal wage distribution regulations on the basis of
      Party B’s job achievements, work results and actual
      contributions.

            
	 	 
	 C.  
      	

              When
      Party A practices the piecework wage system, Party B’s quota of work shall
      be fixed in accordance with the standard that more than 90% of laborers
      doing the same work in the same company can reach such quota within the
      statutory working hour. When Party B reaches the quota of work as
      prescribed by Party A within the statutory working hour and with the
      quality guaranteed, remunerations shall paid timely in full by Party A to
      Party B.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              (4)  

            	
              Party
      A shall raise Party B’s wage to a reasonable level based on its economic
      results, the guiding wage level and the guiding wage standard published by
      the local government. Party B’s wage raising method shall be determined by
      the following:  
      (collective bargaining agreement or internal regulations for normal wage
      raise).

            

    

    

    
      	
              (5)  

            	
              Party
      B’s overtime pay shall be calculated on the basis of the rate of local
      standard on minimum wages.

            

    

    

    
      	
              (6)  

            	
              Party
      A shall deduct Party B’s wage of the day of absence during the period of
      Party B’s leave of absence to attend to private
  affairs.

            

    

    

    
      	
              (7)  

            	
              Party
      B is entitled to vacations with pay (marriage leave, funeral leave, annual
      vacations, and family-visit leave), and the remunerations paid to Party B
      shall be based on Party B’s normal
wage.

            

    

    

    
      	
              VI.  

            	
              SOCIAL
      INSURANCE AND WELFARE

            

    

    

    
      	
              (1)  

            	
              Both
      parties shall, in accordance with the law, participate in social insurance
      and pay insurance premiums in a timely manner. The portions to be paid by
      Party B according to law shall be withheld by Party A from Party B’s
      remunerations.

            

    

    

    
      	
              (2)  

            	
              Party
      A shall announce to the public the information on payments for Party B’s
      various social insurance premiums, and Party B shall have the right to
      check with Party A on the payments for its various social insurance
      premiums. In this case, Party A shall render all necessary assistance to
      Party B.

            

    

    

    
      	
              (3)  

            	
              When
      Party B suffers from an industrial injury, Party A shall be responsible to
      provide prompt rescue, apply to the labor and social security
      administrative department for determination of industrial injury within
      the specified time limit, proceed with the appraisal of Party B’s physical
      disability in accordance with the law, and perform necessary obligations
      to enable Party B to enjoy the medical treatment for industrial
      injury.

            

    

    

    
      	
              (4)  

            	
              Party
      B is entitled to the welfare treatment as prescribed by the State’s
      regulations, and Party A shall execute such
  regulations.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      
        
          	
                  VII.  

                	
                  LABOR
      DISCIPLINE

                

        

        

        Party A
shall formulate the labor disciplines in conformity with the provisions as
specified by the laws, regulations and policies, go through the democratic
procedures and make announcement to Party B. Party B shall submit himself to
Party A’s such labor disciplines.

        

        
          	
                  VIII.  

                	
                  PROVISIONS
      OF CONSULTATION

                

        

        

        Both
parties, as a result of amicable consultations, mutually agree to choose the
agreed covenant as defined in Subparagraph set forth
below:

        

        
          	
                  A.  

                	
                  Where
      Party B’s work involves Party A’s trade secrets, Party A shall,
      beforehand, consult with Party B on matters concerning the maintenance of
      the trade secrets or the restriction of business competition, and sign
      with Party B the confidentiality agreement or non-compete
      agreement.

                

        

        

        
          	
                  B.  

                	
                  Where
      Party A pays to recruit or train Party B and demands Party B to serve a
      specific term, a prior consent shall be obtained from Party B and a
      separate agreement shall be signed to clarify the rights and obligations
      of both parties.

                

        

        

        
          	
                  C.  

                	
                  Where
      Party A pays or has paid to provide Party B with other special treatments,
      such as the (i.e.,
      housing, car, etc.) and demands Party B to serve a specific term, a prior
      consent shall be obtained from Party B and a separate agreement shall be
      signed to clarify the rights and obligations of both
    parties.

                

        

        

        
          	
                  D.  

                	
                  Party
      A agrees to provide Party B with the additional endowment insurance
      (annuity) and the additional medical insurance with the specific rates set
      forth below:

                

        

        

        
          	
                  E.  

                	
                  Party
      A agrees to provide Party B with the following welfare
      treatment:

                  
                    
      

                  
    

        

         

        
          	
                  F.  

                	
                  Other
      matters to be agreed upon by both parties:

                  
                    
      

                  
    

        

      

       

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    .

    
      
        
          	
                  IX.  

                	
                  SETTLEMENT
      OF LABOR DISPUTES

                

        

         

        
          	(1)	

                  Where
      a labor dispute takes place from the execution of this Contract, both
      parties may seek for settlement through consultations. In case neither
      party agrees to settle the disputes through consultations or in case no
      settlement can be reached through consultations, the parties involved may
      apply to the labor dispute mediation committee of their company for
      mediation. If the mediation fails and one of the parties requests for
      arbitration, that party may apply to the labor dispute arbitration
      committee for arbitration. Either party may also directly apply to the
      labor dispute arbitration committee for arbitration. The party that
      requests for arbitration shall file a written application to a labor
      dispute arbitration committee within sixty (60) days starting from the
      date of the occurrence of the labor dispute. If one of the parties is not
      satisfied with the adjudication of arbitration, the party may bring a
      lawsuit to a people’s court within fifteen (15) days upon receipt of the
      ruling of arbitration.

                
	 	 
	(2)	

                  Party
      B shall have the right to expose and report to the labor and social
      security administrative department and the proper authorities Party A’s
      acts in violation of laws, rules and regulations on labor, which infringes
      upon Party B’s legitimate rights and
interests.

                

        

      

       

      
      

      
        
          	
                  X.  

                	
                  MISCELLANEOUS

                

        

         

        
          	(1)	

                  During
      the term of this Employment Contract, for the convenience of mutual
      contacts, Party B shall notify Party A promptly of any changes to Party
      B’s permanent residence, current address or contact
  method.

                
	 	 
	(2)	

                  Any
      other matters not mentioned or included in this Contract shall be handled
      in accordance with the regulations of the State. In the absence of such
      regulations, both parties shall resort to amicable consultations on the
      basis of the principle of equality.

                
	 	 
	 (3)	

                  This
      Contract is void if altered.

                
	 	 
	 (4)	

                  This
      Contract may be written in both Chinese and other languages. In case of
      any discrepancy between the Chinese and other versions, the Chinese
      version shall prevail.

                
	 	 
	 (5)	

                  This
      Contract is made out in duplicate, and each party shall hold one identical
      copy.

                
	 	 
	 (6)	

                  This
      Contract becomes effective as of February 10,
      2010.

                
	 	 

        

      

    

    

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    IN
WITNESS WHEREOF, the undersigned have executed and delivered this Employment
Contract as of the date set forth below.

    

    Signed by
Legal
Representative:                                                                                     Party
B’s Signature:

    or
Authorized Agent:

    

    Sealed by
Party A:

    

    Date:
February 5,
2010                                                                                                     
 Date: February 5, 2010

     

     

     

     

     

     

     

     

    7f8k050610ex10iv_sunnyside.htm

    Exhibit
10.4

    
 

    AGREEMENT
FOR ASSET TRANSFER

    

    THIS
AGREEMENT is made between the Transferor, Yuan Qisheng (hereinafter referred to
as “Party A”) and the Transferee, Jiangsu Dambon Mechanical
&  Electrical Co., Ltd. (hereinafter referred to as “Party
B”)

    

    WHEREAS:

    

    
      	
              1.  

            	
              To
      revitalize assets and adjust industrial structure, Party B decides to
      transfer its assets, liabilities and future businesses with respect to
      Mahjong machine manufacturing.

            

    

    

    
      	
              2.  

            	
              Party
      B agrees to take over the abovementioned assets, liabilities and future
      businesses under the terms and conditions
  hereof.

            

    

    

    NOW THEREFORE, to further
specify the rights and obligations of both Parties and through sufficient
consultation, both Parties have reached the following agreement with respect to
the details of the transfer:

    

    ARTICLE
1    SCOPE OF OBJECTS

    

    
      	
              1.  

            	
              Assets
      to be transferred by Party A to Party B shall be the assets, liabilities
      and future businesses identified by both Parties, including houses and
      buildings, equipment, current accounts, and so forth. The specific scope
      thereof shall be as stipulated in the itemized list of
      objects.

            

    

    

    ARTICLE
2    CONSIDERATION

    

    It is
agreed by both Parties that the total price for the objects to be transferred
from Party A to Party B shall be determined on the basis of the price negotiated
by both Parties, namely RMB 29,516,880.54 (tax included).

    

    For fixed
assets such as houses, buildings and equipment, the base price shall be the
price quoted by Party A for the time being. It is agreed by both Parties to
employ an evaluation institution with relevant qualification to evaluate the
assets and issue an evaluation report prior to September 31, 2009. If the
absolute value of difference between the evaluated price and the base price is
more than 10%, the consideration for the transfer of assets shall be separately
negotiated and agreed by both Parties.

    

    ARTICLE
3     DATE OF TRANSACTION OF TRANSFER

    

    It is
agreed by both Parties that the transaction date for the transfer of objects by
Party A to Party B shall be July 1, 2009.

    

    ARTICLE
4    METHOD AND TERM OF PAYMENT

    

    
      	
              1.  

            	
              Party
      B shall, prior to December 31, 2011, pay in currency fund the
      consideration listed in Article 2 in
  installment.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    
 

    
      	
              2.  

            	
              Party
      B is not obligated to pay the interests relating to the payment, nor shall
      it be obligated to provide any surety such as security and
      mortgage.

            

    

    

    ARTICLE
5    DELIVERY OF TRANSFERRED ASSETS

    

    
      	
              1.  

            	
              Party
      A shall, within ten (10) days as of the date when this Agreement become
      effective, deliver the objects to be transferred hereunder. Both Parties
      shall go through relevant formalities for the
  takeover.

            

    

    

    
      	
              2.  

            	
              Both
      Parties shall jointly coordinate with Party A’s creditors and debtors and
      transfer the debts and credits stipulated in the list of objects under
      Party B’s name.

            

    

    

    ARTICLE
6    UNDERTAKINGS AND WARRANTS

    

    
      	
              1.  

            	
              Contents
      of both Parties’ statements and preface shall be true, accurate and
      non-misleading;

            

    

    

    
      	
              2.  

            	
              Till
      the date of this Agreement, there is not any mortgage, pledge, lien,
      guarantee and any other third party right on Party A’s assets to be
      transferred hereunder; any contingent liability relating to the objects to
      be transferred hereunder after the date of this Agreement shall be assumed
      by Party A.

            

    

    

    
      	
              3.  

            	
              From
      the date when the assets under Article 4 hereof are delivered, titles and
      risks of the objects transferred hereunder shall be transferred to Party
      B.

            

    

    

    
      	
              4.  

            	
              When
      necessary, both Parties shall conclude all documents and take all measures
      to make the assets transfer under this Agreement effective in the sense of
      law.

            

    

    

    
      	
              5.  

            	
              Party
      A shall not engage in any business related to or competitive to Party A’s
      current business.

            

    

    

    ARTICLE
7    REGISTRATION FOR OWNERSHIP TRANSFER

    

    Party B
shall be responsible for going through procedures for the registration for
transfer of ownership of the transferred assets and Party A shall provide
necessary assistance and issue relevant formalities.

    

    ARTICLE
8    TAXES AND DUTIES

    

    
      	
              1.  

            	
              Party
      A shall pay all the unpaid taxes and duties incurred prior to the date of
      transaction of transfer.

            

    

    

    
      	
              2.  

            	
              Relevant
      taxes and duties resulting from the transfer, including ownership transfer
      registration fees, deed tax and stamp duty shall be assumed by both
      Parties in accordance with pertinent
laws.

            

    

    

    ARTICLE
9    LIABILITY FOR BREACH OF CONTRACT

    

    
      	
              1.  

            	
              In
      case that Party A fails to deliver the assets to Party B within the time
      stipulated in this Agreement, Party A shall pay Party B liquidated damages
      equivalent to 0.05% of the value of the undelivered assets for each day
      overdue. If it is more than three (3) month overdue, Party B shall be
      entitled to discharge this Agreement and Party A shall return to Party B
      the transfer price already paid by Party
B;

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              2.  

            	
              In
      case that Party B fails to make payment within the time stipulated in
      Article 4 hereof, Party B shall pay Party A liquidated damages equivalent
      to 0.05% of the overdue amount for each day overdue. If it is more than
      three (3) month overdue, Party A shall be entitled to discharge this
      Agreement.

            

    

    

    
      	
              3.  

            	
              In
      case of any loss suffered by one Party due to the other Party’s breach of
      contract, the defaulting Party shall indemnify the other
      Party.

            

    

    

    ARTICLE
10  EFFECTUATION OF THE AGREEMENT

    

    This
Agreement shall become effective upon the signatures and seals of duly
authorized representatives of both Parties.

    

    ARTICLE
11  MODIFICATION OF THE AGREEMENT

    

    In case
of modification to any provision of the Agreement or separate conclusion of
supplementary contract, relevant rules shall be observed by both
Parties.

    

    ARTICLE
12  MISCELLANEOUS

    

    
      	
              1.  

            	
              Upon
      the transfer of assets, Party B shall make proper arrangement for the
      workers and staff previously employed by Party
  A.

            

    

    

    
      	
              2.  

            	
              Anything
      uncovered in this Agreement shall be solved through consultation by both
      Parties. If there is no agreement reached through consultation, either
      Party may bring a lawsuit to the competent
  court.

            

    

    

    
      	
              3.  

            	
              This
      Agreement is in duplicate, with each Party holding one (1)
      copy.

            

    

    

    
      	
              4.  

            	
              The
      annex hereto shall be an integral part of this Agreement and shall have
      the same legal effect as the original copy of this
    Agreement.

            

    

    

    Annex: Itemized List of
Objects to be Transferred

    

    Party
A:

    Authorized
Representative:

    

    Party
B:

    Authorized
Representative:

    

    Date:
June 10, 2009

     

     

     

    3

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