Document:

SETTLEMENT
      AGREEMENT, dated
      as
      of November 5, 2007 (“the Agreement”), by and among SBI
      BRIGHTLINE LLC,
      a
      Delaware limited liability company (“SBIB1”) with executive offices located at
      610 Newport Center Drive, Suite 1205, Newport Beach, California 92660, and
      SBI
      BRIGHTLINE XI LLC,
      a
      Delaware limited liability company (“SBIB11”), with executive offices located at
      610 Newport Center Drive, Suite 1205, Newport Beach, California 92660, with
      executive offices located at 610 Newport Center Drive, Suite 1205, Newport
      Beach, California 92660; and BIOPHAN
      TECHNOLOGIES, INC.,
      a Nevada
      corporation (“BIPH”) with offices located at 150 Lucius Gordon Drive, Suite 215,
      West Henrietta, New York 14586, and BIOMED
      SOLUTIONS, LLC,
      a New
      York limited liability company (“Biomed”) with offices located at 150 Lucius
      Gordon Drive, Suite 215, West Henrietta, New York 14586.

    

    INTRODUCTION

    

    BIPH
      and
      SBIB11 are party to the Stock Purchase Agreement, dated as of May 27, 2005,
      and
      amended on January 8, 2006 (the “BIPH SPA”), relating to the acquisition of
      shares of common stock of BIPH by SBIB11. Pursuant to the BIPH SPA, since June
      2006, SBIB11 paid BIPH the sum of $3,175,000 in exchange for 1,587,500 shares
      of
      BIPH common stock.

    

    Biomed
      and SBIB1 are party to an agreement, dated January 24, 2005, (the “Securities
      Purchase and Warrant Agreement”) relating to the sale by Biomed to SBIB1 of 4
      million shares of BIPH common stock and warrants for an additional 1,180,000
      shares of BIPH common stock (the “Warrants”). 

    

    SBIB1
      has
      extended credit to Biomed in the aggregate amount of $3 million represented
      by
      the Promissory Note, dated June 29, 2006 (the “Biomed Note”). At the date
      hereof, the unpaid principal amount of the Note is $1,050,000. 

    

    BIPH
      and
      Biomed are party to a line of credit agreement, dated January 29, 2006, as
      amended, whereby Biomed provided a $5 million line of credit to BIPH and BIPH
      issued to Biomed a $5 million Promissory Note (the “BIPH Note”). As of the date
      hereof, the unpaid principal amount of the BIPH Note is $1,750,000.

    

    SBIB1
      and
      SBIB11 on the one hand and BIPH and Biomed on the other now desire to settle
      all
      claims, causes of action and disputes between them arising prior to this
      Agreement whether such claims, causes of action and disputes are known or
      unknown, and to release each other from any and all claims, causes of action
      and
      disputes known or unknown relating thereto, which do or may exist between them.
      

    

    NOW
      THEREFORE, for
      good
      and valuable consideration as set forth below, the receipt and sufficiency
      of
      which are hereby acknowledged, the parties hereto hereby agree as
      follows:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Section
      1 Satisfaction
      of the Biomed Note and Partial Satisfaction of the BIPH
      Note.

    

    (a) The
      Biomed Noted is hereby terminated and of no further force and effect. Upon
      execution and delivery hereof, SBIB1 will surrender the Biomed Note to Biomed
      for cancellation. 

    

    (b) Biomed
      shall, upon the execution and delivery hereof, reduce by $1,050,000 the
      principal amount of the BIPH Note. Biomed hereby authorizes BIPH to make a
      notation on its books and records reflecting such reduction of the principal
      amount of the BIPH Note. Upon such reduction, Biomed and BIPH agree that the
      new
      principal amount remaining outstanding on the BIPH Note is
      $700,000.

    

    Section
      2 Termination
      of Securities Purchase and Warrant Agreement and Cancellation of
      Warrants.
      BIPH,
      Biomed and SBIB1 agree that the Securities Purchase and Warrant Agreement and
      the Warrants are hereby terminated and of no further force or effect. Upon
      execution and delivery hereof, SBIB11 agrees that the Warrants are terminated
      and authorizes BIPH to mark the Warrants terminated.  

    

    Section
      3 Termination
      of BIPH SPA. In
      consideration for (i) the termination of Warrants and (ii) the $1,050,000
      reduction in the amount owed by BIPH to Biomed under the BIPH Note (by
      application of the amount owed by Biomed to SBIB1 under the Biomed Note). BIPH
      and SBIB11 agree that the BIPH SPA is hereby terminated and of no further force
      or effect. 

    

    Section
      4  Mutual
      General and Special Releases.
      

    

    (a) Except
      for the obligations created hereunder, SBIB1 and SBIB11 on the one hand and
      BIPH
      and Biomed on the other, each for itself and its successors and assigns, forever
      releases, relieves and discharges the other party and its predecessors,
      successors, assigns, attorneys, partners, employees, agents, directors,
      officers, representatives, related entities and affiliates, from any and all
      claims, demands, actions, cause or causes of action, suits, debts, sums of
      money, controversies, damages, obligations and liabilities of every kind and
      nature, whether known or unknown, suspected or unsuspected, vested or
      contingent, and whether or not concealed or hidden, in law, equity or otherwise,
      that have existed or may have existed, or that do exist as of the date this
      Agreement is entered into as set forth above. 

    

    (b) Each
      party hereto acknowledges and agrees that the facts in respect to which this
      release is given may turn out to be other than or different than expected,
      and
      expressly, knowingly and voluntarily waives any and all benefits and rights
      granted pursuant to Section 1542 of the Civil Code of the State of California
      with which section it is familiar and which section reads as
      follows:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    “A
      general release does not extend to claims which the creditor does not know
      or
      suspect to exist in his favor at the time of executing the release, which if
      known by him, must have materially affected his settlement with the
      debtor.”

    

    (c) Each
      party hereto understands and realizes that there may exist at this time claims
      herein released, the nature of which has not yet been discovered. It is
      expressly understood and agreed that the possibility that such claims exist
      has
      been explicitly taken into account in determining the consideration to be given
      for this release and that a portion of that consideration, having been bargained
      for in full knowledge of the possibility of such unknown claims, was given
      in
      exchange for this release. 

    

    (d) Each
      party hereto represents and warrants that no claim or right that is released
      or
      dismissed under this Agreement has been transferred, hypothecated, assigned
      or
      given away by that party prior to the date of this Agreement.

    

    Section
      5 Covenant
      Not to Sue.
      Without
      limiting in any way the releases set forth above, and subject to the performance
      of the terms, conditions, obligations and promises herein contained, each party
      hereto hereby covenants and warrants that it will not sue or otherwise commence
      or prosecute, or cause to be commenced or prosecuted, any action or proceeding,
      civil, criminal, administrative, or otherwise, related in any way to any matter
      released by this Agreement.

    

    Section
      6 Disputed
      Claims.
      It
      is
      expressly understood and agreed that this Agreement is being made solely for
      the
      purpose of avoiding the expense and inconvenience of litigation and that it
      is
      not to be construed as an admission on the part of any party hereto of any
      unlawful wrongful or improper conduct or of any liability to any other party,
      all of which is expressly denied.

    

    Section
      7 Further
      Acts. 
      The
      parties agree to cooperate in the implementation of the terms of this Agreement
      and to execute such documents as may reasonably be necessary to carry out same
      within three (3) days of receipt of a written request therefor. 

    

    Section
      8 Representations
      of the Parties.
      Each
      of
      the parties represents, warrants and agrees as follows:

    

    (a) Such
      party has received independent legal advice from attorneys of its choice with
      respect to the advisability of making this settlement and of entering into
      this
      Agreement. Prior to the execution of this Agreement the attorneys for each
      party
      reviewed this Agreement at length and had an opportunity to make any desired
      changes. 

    

    (b) Such
      party has made such investigation of the facts pertaining to this Agreement,
      and
      of all other matters related thereto, as such party deems
      necessary.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (c) This
      Agreement has been carefully read by, the contents hereof are known and
      understood by, and it is signed voluntarily by, each person executing this
      Agreement.

    

    (d)
       Each
      person executing this Agreement on behalf of a party warrants and represents
      that he is fully authorized to do so and that his signature on this Agreement
      shall bind said party to the terms and provisions of this
      Agreement.

    

    (e) This
      Agreement is intended to be final and binding and to be effective as a full
      and
      final accord and satisfaction of any and all disputes between the parties.
      Each
      party is relying upon the said finality of this Agreement as a material factor
      inducing said party's decision to settle said disputes.

    

    Section
      9 Miscellaneous.

    

    (a) All
      the
      terms of this Agreement shall be binding upon, inure to the benefit of and
      be
      enforceable by the successors, assigns and heirs of the parties
      hereto.

    

    (b) This
      Agreement constitutes the whole and only existing and binding agreement between
      the parties hereto concerning the releases granted between and among them and
      supersedes all prior understandings on that subject, whether written or oral.
      Other than the representations and warranties expressly stated as such in this
      Agreement, there are no warranties, promises or representations of any kind,
      express or implied, upon which any party has relied in entering into this
      Agreement.

    

    (c) This
      Agreement may be modified or amended only by a writing signed by the party
      to be
      charged. 

    

    (d) This
      Agreement may be executed in one or more counterparts or by counterpart
      signature pages, which may be facsimile copies, and which shall be attached
      to
      the original. Upon such execution and/or attachment, this Agreement shall have
      the same effect as if all signatories had signed the same page of the same
      original. In making proof of this Agreement, a party shall not be required
      to
      account for all executed copies of this Agreement.

    

    (e) Each
      party has been represented by counsel in the negotiation and execution of this
      Agreement, and shall be responsible for its respective costs and attorney's
      fees
      incurred in connection with this Agreement and its preparation.

    

    (f) In
      the
      event of the bringing of any action, suit or proceeding by any party hereto
      against any other party hereto by reason of a breach of this Agreement or any
      portion thereof, then the prevailing party in such action or suit shall be
      entitled to have and recover all costs and expenses of suit, including
      reasonable attorney's fees.

    

    (g) The
      invalidity of any portion of this Agreement shall not affect the remaining
      portions of this Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (h) The
      headings in this Agreement are for the convenience of the reader only and are
      not to be considered in any construction of the Agreement.

    

    (i) There
      are
      no third party beneficiaries of this Agreement, other than the individuals
      and
      entities released by the parties hereto in Section 4(a). 

    

    (j) This
      Agreement was prepared as a result of discussions between the parties hereto
      and
      shall be interpreted fairly and in accordance with its plain meaning and not
      construed as if prepared exclusively or primarily on behalf of or by either
      of
      the parties hereto. 

    

    (k) As
      used
      in this Agreement, masculine, feminine or neuter gender and the singular or
      plural number shall each be deemed to include the others wherever and whenever
      the context or construction so dictates.

    

    (l) This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of New York, without giving effect to principles of conflicts of
      laws.

    

    (m) This
      Agreement may be executed in one or more counterparts, all of which, when taken
      together shall constitute one original.

    

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the
      parties hereto have executed this Agreement as of the date set forth
      above.

    

    
      	 	
              SBI
                BRIGHTLINE LLC

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /s/
                Shelly Singhal

            
	 	 	
              Name:
                Shelly
                Singhal

            
	 	 	
              Title:
                Manager

            
	 	 	 
	 	
              SBI
                BRIGHTLINE XI LLC

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /s/
                Shelly Singhal

            
	 	 	
              Name:
                Shelly
                Singhal

            
	 	 	
              Title:
                Manager

            
	 	 	 
	 	
              BIOPHAN
                TECHNOLOGIES, INC.

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /s/
                John Lanzafame

            
	 	 	
              Name:
                John
                Lanzafame

            
	 	 	
              Title:
                CEO

            
	 	 	 
	 	
              BIOMED
                SOLUTIONS LLC

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /s/
                S. G. MacDonald

            
	 	 	
              Name:
                S.
                G. MacDonald

            
	 	 	
              Title:
                VP-R&DContract
        of Employment

      

      

      

      Party
        A (Employer) Name: Qingdao
        Renmin Printing Co.,
        Ltd.                                         

      Registered
        Type:
        Limited
        Company                         

      Address:
        No.15, Xinghua Road, Licang
        District                 

      Postcode:
        266041                                                                      

      

      

      Party
        B (Employee) Name: Wang
        Yijun  Gender:
        Male                    
        

      Date
        of Birth:
        April 19,
        1951                     

      ID
        Number: 370202510419441                
        

      Address:
        401,
        Unit 2, Building 5, No.51, Donghai Road

      Postcode:
        266071         

      

      

      Pursuant
        to Labor
        Law of the People’s Republic of China
        and
        existing labor regulations as well as relevant rules, the Employment Contract
        is
        hereby made by and between Party A and Party B on the basis of equality and
        self-volition and agreement through negotiation, so as to determine the labor
        relationship that bind both Parties.

      [Term
        of the Contract]

      Article
        I
        Term of the contract shall be agreed by both Parties and the
        following
        (1)
mode
        will
        be adopted. 

      (1)
        With
        fixed term: From June 1, 2001 to April 19, 2011. 

      (2)
        Without fixed term: From _____ to the date agreed by both Parties to terminate
        the contract when the conditions for rescission or termination occur.

      (3)
        Within fixed time when certain amount of working task is finished: From_____
        to
        the date agreed by both Parties to terminate the contract when the work is
        completed. 

      Probation
        period regulated by both Parties is from_____ to______.

      [Job
        Description]

      Article
        2
        Based on the working requirements, Party A assigns Party B to engage the
        post of
management.
        

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Article
        3
        Party B shall obey the assignment of Party A and complete the task with the
        quality and quantity required by the post (profession). The task and
        responsibility of the exact post (profession) is as follows:
        Complete the task with the quality and quantity required and be responsible
        for
        quality of the product.

      Article
        4
        Party A shall verify the capability of Party B for the post (profession)
        by
        examination and assessment according to the post requirements. Party A may
        remove the post (profession) of Party B. In case of the change in production
        and
        business during valid period of the contract, the post (profession) of Party
        B
        can also be changed through negotiation by both Parties.

      [Labor
        Safety and Health]

      Article
        5
        Party A shall provide Party B with labor safety and health conditions in
        line
        with national, provincial and municipal regulations and with requisite labor
        protection articles.

      Article
        6
        Party A shall establish and improve labor safety and health system and the
        operation regulations on safe production. Party A shall conduct education
        to
        Party B concerning labor safety and health.

      Article
        7
        Party A shall implement special labor protection to the woman workers and
        minor
        as per relevant national, provincial and municipal regulations. If Party
        B is
        engaged in the post (profession) with vocational hazard, Party A shall follow
        relevant regulations to conduct regular health examination to Party B as
        per
        relevant regulations and grant the health care subsidy.

      Article
        8
        Both Party A and Party B shall strictly implement relevant national, provincial
        and municipal regulations on work-related injury and vocational disease report
        system. 

      During
        production (work), Party B shall strictly follow the safe production and
        operation regulations. When the managerial personnel of Party A instruct
        in
        breach of the regulation and force to take adventure in work, Party B has
        the
        right to refuse execution.

      [Working
        Time and Day-off & Holidays]

      Article
        9
        Party A arranges Party B to implement the working hour system in
        (1)
.

      (1)
        Standard working hour system is executed: Daily working hours of Party B
        are
        below 8 hours and weekly working hours are below 40 hours.

      (2)
        Comprehensive calculated working hour system is executed: Average daily and
        weekly working hours shall not be more than that regulated by law.

      (3)
        Irregular working hour system is executed: While Party A’s task is finished,
        working time and days-off & holidays can be arranged through negotiation by
        both Parties.

      When
        (2)
        and (3) working system are implemented, approval of the labor administrative
        department above county level is required.

      Article
        10 Due to working requirements, Party A may extend the working hours after
        negotiation with Party B and the trade union. Extended time is generally
        below
        one hour a day. If working time needs to extend due to the work requirements,
        the extended time is generally below three hours a day and aggregately below
        36
        hours a month, while guarantee the health conditions of Party B. 

      Article
        11 In any of following cases, Party A shall pay Party B remuneration higher
        than
        normal wage.

      (1)
        If
        Party B is arranged to extend working hours in workday, Party A shall pay
        Party
        B a wage not less than 150% of normal wage;

      (2)
        If
        Party B is arranged to extend working hours in day-off, Party A shall arrange
        Party B to enjoy holiday of the equal working time or pay Party B a wage
        not
        less than 200% of normal wage;

      (3)
        If
        Party B is arranged to extend working hours in legal holiday or festival,
        Party
        A shall pay Party B a wage not less than 300% of normal wage. 

      Article
        12 In any of following cases, extension of working hours and overtime in
        holiday
        and festival are free form limitation of Article 10.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      (1)
        In
        case of serious natural disaster, accident or other causes seriously to the
        detriment of the people’s life and health and national property safety that need
        emergent treatment;

      (2)
        Trouble in the production equipment, traffic and transportation facilities
        and
        public facilities affecting production and public interest that need emergent
        repair in time;

      (3)
        In
        case of legal holiday or festival and public vacation must be spent for
        equipment repair and maintenance; 

      (4)
        The
        work cannot be interrupted in the legal holiday or festival and public vacation;
        and 

      (5)
        Other
        case as regulated by laws and regulations.

      Article
        13 Party A shall follow national, provincial and municipal regulations to
        ensure
        Party B’s right of taking rest. During the period of contract, Party B enjoys
        home visiting, marriage and funeral, family planning women’s workers labor
        protection and other paid holidays as per national, provincial and municipal
        regulations.

      [Labor
        Discipline]

      Article
        14 Party A shall follow national labor laws, regulations and rules and relevant
        policies and take into consideration about situation in the unit to formulate
        and improve various rules and regulations and labor discipline. Party B shall
        strictly follow Party A’s rules and regulations and labor discipline, obey Party
        A’s management and keep Party A’s business secrete.

      Article
        15 Party B shall abide by rules and regulations formulated by Party A according
        to law.

      Article
        16 Provided Party B breaches Party A’s rules and regulations and labor
        discipline, Party A may make proper disposal as regulated by rules and
        regulations of the unit till the contract is terminated.

      [Labor
        Remuneration]

      Article
        17 Party A shall abide by the principle of distribution as per actual labor.
        According to national, provincial and municipal regulations and situation
        in the
        unit, especially the regulation not allowing wage lower than regulated in
        minimal wage guarantee in the city, Party A may independently formulate wage
        distribution system of the enterprise and determine way of payment and the
        wage
        standard of Party B’s wage.

      Article
        18 Party B provides normal service to Party A in the normal legal working
        time.
        Party A shall pay Party B the monthly wage in the form of currency. Wage
        is no
        less than RMB 320, where wage for the probation period is____.

      Article
        19 If Party A implements the system of calculation by piece or contract,
        it
        shall be executed as per Party A’s wage system while ensuring Party B’s minimal
        wage condition in line with relevant national, provincial and municipal
        regulations about minimal wage.

      Article
        20 In case of work suspension not due to Party B’s reason, Party A shall pay
        Party B basic living expenses as per relevant national, provincial and municipal
        regulations.

      Article
        21 During implementation of the contract, Party A shall properly adjust Party
        B’s labor remuneration as per production and operation and Party B’s actual
        working performance. 

      [Insurance
        Benefit] 

      Article
        22 Both Party A and Party B shall participate in social insurance as per
        relevant national, provincial and municipal regulations. Party A shall follow
        relevant national, provincial and municipal regulations to pay for Party
        B the
        pension, unemployment, medical, work-related injury, maternity and other
        social
        insurances. Social insurance premium due from Party B shall be paid by Party
        A
        in advance.

      After
        two
        parties terminate the contract, Party A shall follow relevant national,
        provincial and municipal regulations to handle the social insurance transfer
        procedures for Party B as per relevant regulations. 

      Article
        23 Provided Party B gets sick or non-work-related injury during the contract
        period, medial treatment and sick leave wage shall be paid according to relevant
        national, provincial and municipal regulations. 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Article
        24 Provided Party B gets vocational disease or work-related injury during
        the
        contract period, Party A shall ensure medical treatment of Party B and make
        injury verification as per relevant national, provincial and municipal
        regulations and the wage and insurance benefit shall be implemented as per
        relevant national, provincial and municipal regulations. 

      Article
        25 During contract period, provided Party B gets sick or die from work, relevant
        treatment shall be implemented relevant national, provincial and municipal
        regulations.

      Article
        26 Treatment for the women workers during pregnant, maternity or breast feeding
        periods shall be implemented as per relevant national, provincial and municipal
        regulations. 

      Article
        27 Other insurance and benefit to be enjoyed by Party B shall be implemented
        as
        per relevant national, provincial and municipal regulations.

      [Contract
        Modification, Termination and Economic Compensation]

      Article
        28 In case of the law, regulation or relevant policy on which the contract
        concluded undergoes change, the corresponding contents of the contract shall
        be
        modified.

      Article
        29 If objective situation for conclusion of the contract undergoes great
        change
        and make the contract hard to be implemented, relevant contract contents
        can be
        modified through negotiation by both Parties. Then both Parties shall conclude
        agreement for modification and obtain accreditation by the labor administration
        department and the agreement shall be rendered as attachment of the
        contract.

      Article
        30 After negotiation by both Parties, the contract can be terminated. If
        Party A
        proposes termination of the contract, Party B shall be provided with
        compensation subsidy as per relevant national, provincial and municipal
        regulations.

      Article
        31 In any of following cases, Party A may terminated the contract at any
        time,
        without limitation of the regulation of notifying Party B 30 days in
        advance.

      (1)
        Party
        B is proved incompetent for the post in the probation period; 

      (2)
        Party
        B seriously breaches labor discipline or Party A’s rules and
        regulations;

      (3)
        Party
        B has serious dereliction causing serious damage to Party A;

      (4)
        Party
        B revealed business secrete of Party A causing loss to Party A and the
        state;

      (5)
        Party
        B was put under labor reforming or prosecuted the criminal liability according
        to law; 

      (6)
        Other
        cases regulated by laws and regulations.

      Article
        32 In any of following cases, Party A may terminate the contract, but shall
        notify Party B in written form 30 days in advance and then pay Party B economic
        compensation as per relevant national, provincial and municipal
        regulations:

      (1)
        Party
        B gets sick or non-work-related injury. After medical period, Party B still
        cannot be engaged in original work or other work Party A assigns;

      (2)
        Party
        B is incompetent for the work or still incompetent after training or adjustment
        of working post; 

      (3)
        Objective situation for conclusion of the contract undergoes great change
        and
        make the contract hard to be implemented. Modification agreement cannot be
        reached even after negotiation by both Parties.

      (4)
        Other
        cases regulated by laws and regulations.

      Article
        33 If Party A is on the verge of bankruptcy and is in the legal period of
        rectification or undergoes serious difficulty in production and operation,
        it
        shall notify the trade union or the whole staff 30 days in advance, hear
        from
        suggestions of the trade union or the employees and report to the labor
        department. Only after that can the contract be terminated, but economic
        compensation shall be paid to Party B as per relevant national, provincial
        and
        municipal regulations.

      Article
        34 In case Party A was cancelled, disbanded or falls into bankruptcy, the
        contract shall be automatically terminated. Then Party A shall pay Party
        B
        economic compensation as per relevant national, provincial and municipal
        regulations. 

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Article
        35 In any of following cases on the part of Party B, Party A shall not terminate
        the contract as per Article 32 and Article 33: 

      (1)
        Party
        B gets vocational disease or work-related injury and is determined by medial
        labor accreditation department as losing or partially losing labor force;
        

      (2)
        Party
        B gets sick or non-work-related injury and is in the regulated medical
        period;

      (3)
        Woman
        work in line with family planning policy in pregnant, maternity and breast
        feeding period; 

      (4)
        Other
        cases regulated by laws and regulations.

      If
        term
        of contract expires in case of (2) or (3), the contract shall be extended
        to the
        expiration of the medical period or the breast feeding period.

      Article
        36 If terminating the contract, Party B shall give written notice to Party
        A in
        written form 30 days in advance. 

      Article
        37 In any of following cases, Party B may notify Party A to terminate the
        contract at any time:

      (1)
        During probation period; 

      (2)
        Party
        A uses force, threat or illegal limit of freedom to oblige labor; 

      (3)
        Through conformation of relevant national department, Party A’s labor safety and
        health conditions are poor and have no protection measures, seriously affecting
        Party B’s safety and health;

      (4)
        Party
        A fails to pay labor remuneration as regulated by the contract;

      (5)
        Party
        A fails to handle social insurance for Party B as per relevant national,
        provincial and municipal regulations.

      If
        contract is terminated as per (2), (3) and (4) of the article, Party A shall
        pay
        Party B economic compensation as per relevant national, provincial and municipal
        regulations; if contract is terminated as per (1) and (5) of the article,
        Party
        A need not pay Party B economic compensation.

      Article
        38 In any of following cases, the contract can not be terminated by Party
        B:

      (1)
        After
        special training funded by Party A, Party B falls short of service term required
        by of Training
        Agreement
        or the
        contract;

      (2)
        Party
        B undertakes key national scientific research project or Party A’s scientific
        research project has not finished;

      (3)
        Other
        cases regulated by laws and regulations.

      Article
        39 In any of following cases, the contract will be terminated immediately
        and
        Party A need not notify Party B in written form 30 days in advance:

      (1)
        The
        contract expires; 

      (2)
        Party
        B retires at the legal age for retirement; 

      (3)
        Party
        B dies; 

      (4)
        Conditions regulated by the contract for termination occur;

      (5)
        Other
        cases regulated by laws and regulations.

      Article
        40 Party A shall follow regulations to fill in the report for termination
        of the
        labor contract and send Party B’s file to relevant unemployment department for
        inspection within 10 days; if it is in line with regulation through inspection,
        Party B will be informed to make the unemployment registration within 15
        days.

      [Breaching
        Liabilities]

      Article
        41 During the contract period, if Party A deducts or delays Party B’s wage
        without any reason, or refuse paying Party B’s remuneration for extended working
        time, Party A shall add 25% of the wage as compensation besides fully paying
        Party B’s wage within time regulated.

      Article
        42 Provided Party A breaches relevant national, provincial and municipal
        regulations and the contract, causing Party B’s loss in labor protection
        treatment, Party A shall make up Party B’s labor protection allowance and
        articles as per relevant national, provincial and municipal
        regulations.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Article
        43 Provided Party A fails to pay social insurance for the employee as per
        regulation of the contract, Party A shall make up the social insurance premium
        for Party B. 

      Article
        44 Provided Party A breaches relevant national, provincial and municipal
        regulations and the contract, causing Party B’s work-related injury, loss of
        medical treatment, Party A shall pay Party B 25% of the medical expense as
        the
        compensation, besides providing work-related injury and medical treatment
        

      Article
        45 If Party A fails to follow relevant national, provincial and municipal
        regulations to compensate Party B after terminating the contract,, Party
        A shall
        also pay Party B 50% of the economic compensation sum as the extra compensation,
        besides fully paying Party B economic compensation.

      Article
        46 In case of termination as per Article 31, Article 36 and Article 39, Party
        A
        will not grant the economic compensation. 

      Article
        47 After the contract is terminated, if Party A fails to handle the formalities
        for termination of labor contract and transfer of labor relationship, causing
        loss to Party B, Party A shall undertake Party B’s actual loss in corresponding
        period.

      Article
        48 In case Party A breaches national regulation and regulation and terminate
        the
        contract, if Party B is willing to go on working for Party A, Party A shall
        go
        on implementing the contract and undertake actual economic loss to Party
        B. If
        Party B is not willing to work for Party A any more, Party A shall pay Party
        B
        the breaching penalty as per term of failure to implement the contract (months)
        multiplied by 80% (the maximum is less than 100%) of average monthly wage
        income
        during six months before termination of the contract. 

      Article
        49 In case Party B breaches the contract to resign and Party A requires Party
        B
        to go on implementing the contract and Party B agrees to go on implementing
        the
        contract, Party B shall undertake actual economic loss incurred to Party
        A
        during the period of resignation. If Party A does not require Party B to
        go on
        implement the contract, Party B shall pay Party A the breaching penalty as
        per
        term of failure to implement the contract (months) multiplied by 80% (the
        maximum is less than 100%, the exact proportion shall be the same with the
        proportion in Article 48) of average monthly wage income six months before
        termination of the contract.

      Article
        50 If Party B proposes to terminate the contract as per Article 36, Party
        B
        shall pay Party A the breaching penalty as per term of failure to implement
        the
        contract (months) multiplied by 80% (the maximum is less than the proportion
        specified in Article 49) of average monthly wage income during six months
        before
        termination of the contract.

      Article
        51 Party A has paid to employ Party B. If Party B terminates the contract
        in the
        contract term due to personal cause, it shall pay the expense for Party A’s
        employment of Party B. 

      Article
        52 Party B received Party A funded training and both Parties conclude the
        training agreement to determine service term and breaching liabilities as
        attachment of the contract. Within term of the contract, Party B shall not
        fail
        to implement training agreement without any reason, or the training fee shall
        be
        paid by Party B. Without agreement, input sum will be divided as per labor
        contract between Party A and Party B and payment is made by deducting the
        implemented term after training of Party B.

      Article
        53 Both Parties shall conclude special agreement concerning term of keeping
        Party A’s business secrete breaching as attachment of the contract. If Party B
        breaches against the business secrete agreement, it shall undertake all economic
        loss incurred to Party A. Breaching compensation liabilities shall be handled
        as
        per agreement between two parties.

      Article
        54 If Party B breaches against the contract and resigns causing economic
        loss of
        Party A and the breach penalty paid by Party B cannot compensate actual loss
        of
        Party A, Party B shall make compensation as per Party A’s actual sum
        loss.

      [Labor
        Dispute Settlement]

      Article
        55 For any dispute arising from implementation of the contract, any party
        may
        apply for mediation at the labor dispute committee of the unit. If the
        medication fails within 30 days, application for arbitration shall be made
        to
        the labor dispute arbitration committee at the place where Party A located
        within 60 days after the dispute occurs. If either party is not convinced
        by the
        arbitration award, lawsuit can be lodged at the people’s court at the place
        where Party A located within 15 days after receiving the arbitration
        award.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Article
        56 In the contract, if relevant treatment of Party B is lower than the standard
        regulated by Party A’s collective contract, the collective contract shall
        prevail.

      Article
        57 For matters uncovered in the contract or in case relevant articles are
        against relevant national, provincial and municipal regulations during
        implementation of the contract, relevant national, provincial and municipal
        regulations shall prevail.

      Article
        58 The contract shall be written by pen or brush. Alteration or signing in
        agency without legal authorization will be invalid. 

      Article
        59 The contract goes into duplicates and come into force with the signing
        of
        both Parties. After certification of the labor administrative department,
        each
        party shall hold one copy, with the same legal effect.

       

      
 

      [Miscellanies
        to be Agreed by Both Parties]

      

      Party
        B is willing to conclude the Self-volition
        Agreement and
        agrees to strictly implement.

       

      

      

      

      Party
        A:
        (Seal)                             
Party B: (Seal)

      

      

      Legal
        representative (entrusted agent): (Seal)

      

      

      

      Time
        for
        conclusion of the contract: June 1, 2001 

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      Accreditation
        Certificate

      Through
        due verification, the contract complies with national laws, regulations and
        relevant regulations. Therefore, accreditation is hereby granted. 

       

      

      

      

      Accreditation
        authority: (Seal)

      

      Accreditation
        by: (Seal)

      

      Date
        of
        accreditation: June 7, 2001

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