Document:

Unassociated Document

    

    

    Employment
      Contract of Key Officer

    

    
      	
              Party
                A:

            	
              Xi’an
                Amorphous Alloy Zhongxi Transformer Co,
                Ltd.

            

      	Party B:	Gou'an
              Zhang

    

     

    This
      Contract is signed on a mutuality voluntary basis by and between Party A and
      Party B in accordance with the “Labour Law of People's Republic of China."

    

    1.
      Term of the Contract: 

    Article
      1
      The term of this contract shall commence on May 1, 2007 and shall continue
      until
      August 30, 2012. 

    Probationary
      period : None.

    

    2.
      Job Description: 

    
      	
              Article
                2

            	
              Department
                of Party B:

            

      	 	Position: Sales and
              Marketing 

      	 	Title: Vice General Manger of
              Marketing. 

    

     

    Article
      3
      Party A may adjust party B’s position based on Party B’s objective condition,
      requirement of working, the ability and performance of Party B, Party B shall
      obey the management and arrangement of Party A, anyone who disobey the
      arrangement of Party A, Party A may terminate this contract.

    

    Article
      4
      Based on KPI that two parties agreed after consultation, Party B shall fully
      complete the assigned work by Party A within the limited period based on the
      economic index, job description and working procedure.

    

    Article
      5
      Party B shall follow the regulations of Party A.

    

    Article
      6
      In the effective period of contract, Party B shall not establish and keep
an
      employment relationship with third party.

    

    3.
      Working Hours, Rest and Leave

    Article
      7
      Party B shall conduct the flexible working hours after consultation by two
      parties, the normal working hours of Party B shall be eight hours each day
      in
      principle, party B may work overtime or arrange his/her leave by him/herself
      under this circumstance that Party B ensure to fully meet KPI for monthly,
      quarterly and yearly of Party A.

     

    Article
      8
      The Party A may extend working hours or work in his/her leave and legal holidays
      due to the requirements of its production or business based on the Article
      41
      and 42 of “ Law of the People’s Republic of China on Employment Contract”, Party
      A shall pay the overtime pay or adjust him/her leave based on the Article 44
      of
“ Employment Contract”.

     

    Article
      8
      The leave for sick, absence, marry and death, pregnancy is in accordance with
      the related
      regulations and “ Staff Hand Book” of Party A.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    4.
      Labor Protection and Working Conditions

     

    Article
      10 Party A shall strictly implement the related regulations of state and local
      government regarding security, labour protection and occupational hygiene,
      fully
      ensure Party B’s security and health in the process of working . 

     

    Article
      11 Party A shall provide Party B the qualified labour protection articles and
      safety working condition.

     

    Article
      12 Party A should provide Party B with occupational morals, technique, safety,
      hygiene and related regulation education and training. 

     

    5.
      Labor Compensation; 

    

    Article
      13 Party A implement yearly salary system based on “The Yearly Salary Program
      for Key Officers of Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd.” to
      Party B, Party A will pay Party B the basic yearly salary and performance yearly
      salary of RMB 3,000 after conducted KPI of year-end. 

     

    Article
      14 Party A shall pay Party B the basic salary of 2,000 in RMB each month in
      accordance with related regulations of state, local government and Party
      A.

     

    6.
      Social Insurance
      and Welfare 

     

    Article
      15 The
      Party
      B will pay all mandatory social insurance such pension insurance, medical
      insurance, unemployment insurance and other insurance according to relevant
      government and city regulations. At
      the
      time of termination or ending of an employment contract, Party A shall issue
      a
      proof of termination or ending of the employment contract and carry out the
      procedures for the transfer of Party B file and social insurance account.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article
      16 An illness or a non-work-related injury of Party B, Party A shall comply
      with
      the regulations based on the laws regarding the salary for illness leave and
      the
      set period of medical care. 

     

    Article
      17 An occupational illness or a work-related injury of Party B, Party A shall
      comply with the laws and regulations of state regarding the salary for illness
      leave and the set period of medical care. 

     

    Article
      18 Party A shall comply with the regulations regarding the remuneration based
      on
      the laws for a female employee in her pregnancy, confinement or nursing period.
      

     

    7.
      Labour Discipline 

     

    Article
      19 Party B shall comply with the regulations based on the laws of Party A
      regarding safety, hygiene, procedure and technique; take good care of the
      property of Party A, follow the occupational morals; attend actively the
      education and technique training which provided by Party A. 

     

    Article
      20 If Party B breaks the labour discipline, Party A shall take disciplinary
      measure or terminate this contract based on the regulations of
      company.

     

    7.
      Modification, Discharge, Termination and Renew of the Contract

     

    Article
      21 This contract may modify the related content, when the laws and regulations
      is modified which this contract relied upon.. 

     

    Article
      22 A major change in the objective circumstances relied upon at the time of
      conclusion of the employment contract renders it un-performable, Party A and
      Party B may modify the related content after consultations. 

     

    Article
      23 Party A
      may
      terminate an employment contract if Party B: 

     

    (1)
      Is
      proved during the probation period not to satisfy the conditions for employment;
      

     

    (2)
      Materially breaches Party A’s discipline or rules and regulations; 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (3)
      Commits serious dereliction of duty or practices graft, causing substantial
      damage to Party A; 

     

    (4)
      Has
      his/her criminal liability pursued in accordance with the law;

     

    (5)
      Failed to complete Party A’s assignment which links with KPI conducted by Party
      A for 2 years consecutively.(except the reason of Party A)

     

    Article
      24 Party A may terminate an employment contract by giving Party B 30 days’ prior
      written notice, if: 

     

    (1)
      After
      the set period of medical care for an illness or non-work-related injury, Party
      B can engage neither in his original work nor in other work arranged for him
      by
      Party A; 

     

    (2)
      Party
      B is incompetent and remains incompetent after training or adjustment of his
      position; 

     

    (3)
      A
      major change in the objective circumstances relied upon at the time of
      conclusion of the employment contract renders it un-performable and, after
      consultations, Party A and Party B are unable to reach agreement on amending
      the
      employment contract. 

     

    Article
      25 Party A may terminate this contract, if Party A is facing the bankruptcy
      and
      in the period of legal consolidation, or serious difficulties in production
      and/or business operations, after Party A has explained the circumstances to
      its
      Trade Union or to all of its employees , and also reported to the labor
      administration department. 

     

    Article
      26 Party A may not terminate an employment contract pursuant to Article 23
      and
      Article 24 hereof if Party B: 

     

    (1)
      Has
      contracted an illness or sustained a non-work-related injury, and the set period
      of medical care therefore has not expired; 

     

    (2)
      Is a
      female employee in her pregnancy, confinement or nursing period; 

     

    (3)
      Finds
      himself in other circumstances stipulated in laws or administrative statutes.
      

     

    (4)
      Occupational illness or work-related injury is confirmed that Party B has lost
      or partially lost his capacity to work, after appraisal by labour appraisal
      committee in city, district and county when the medical care is completed.
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article
      27 Party A may terminate an employment contract by giving Party B 30 days’ prior
      written notice.

     

    Article
      28 Party B may terminate his employment contract if Party A: 

     

    (1)
      In
      the period of probation; 

     

    (2)
      Party
      A uses violence, threats or unlawful restriction of personal freedom to compel
      Party B to work;

     

    (3)
      Fails
      to pay labor compensation in full and on time based on this
      contract.

     

    Article
      29 The Contract may be terminated automatically at the expiration. And it may
      be
      renewed through consultation by the two parties. 

     

    Article
      30 The Contract may be terminated for whom has concluded
      open-ended employment contract when the circumstances occurred for Party B,
      such
      as leaving the post, retirement, resignation or other agreed terms of
      termination of this contract. 

     

    9.
      Breach Liabilities 

     

    Article
      31 If Party A violates or terminates this contract with Party B based on Article
      24 and 25, Party
      A
      shall pay damages pursuant to related regulations.

     

    Article
      32 Party A provides special funding for Party B’s training and gives him
      professional technical training, if Party B requires to terminate this contract
      on the term of his service, Party B shall pay liquidated damages to Party A
      based on the training expenses.

     

    Article
      33 If Party A terminates this contract with Party B based on Article 26,
Party
      A
      shall pay damages to Party B pursuant to related regulations.

     

    Article
      34 Due to either party’s fault, if breaching the Contract, that party shall
      undertake the breach liability according to the extent to the performance of
      the
      Contract; if the two parties both breach the Contract, they shall undertake
      its
      separate liability according to the concrete situation. 

     

    Article
      35 Due to either party’s fault, if breaching the Contract to damage the other
      party. The damage should be compensated by the faulty party accordance with
      the
      relevant laws and regulations of PRC. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article
      36 If Party B resigns or be employed by other company without approval of Party
      A, Party A have right to require Party B return back or dismiss him, and Party
      B
      shall
      pay
      damages to Party A.

     

    Due
      to
      the force majeure, causing the non-performance or the damages to either party,
      the other party may not undertake the breach liability; 

     

    10.
      Other
      Matters Which Requires to be Included in Employment Contract

     

    Due
      to
      Party B’s special and important position, he may touch core technique and trade
      secrete, including all kinds of enterprise and clients information. Party B
      is
      not allowed to disclose the above confidential information to the third party
      or
      use by his privacy without agreement of Party A in his term of service. Party
      B
      shall return all the above confidential information to Party A when he resigns.
      If Party B disclose or copy the above confidential information and results
      the
      damages to Party A, Party B shall retrieve the losses and pay damages to Party
      A, otherwise, Party A have right to bring the case to
      a
      people's court.

     

    11.
      Labor Disputes 

     

    Article
      37 Where a labor dispute between the parties takes place during the performance
      of this Contract, the parties concerned may seek for a settlement through
      consultation; or either party may apply to the labor dispute mediation committee
      of their unit 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 within 60 days starting from
      the
      date of the occurrence of a labor dispute. If one of the parties is not
      satisfied with the adjudication of arbitration, the party may bring the case
      to
      a people's court.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.
      Others

     

    Article
      38 Any terms which is not include this contract conforms to relevant law,
      regulation, policy and the regulations of Party A.

     

    Article
      39 This contract will be valid after signed by both parties in two originals,
      Party A and Party B holds each one original.

     

    

     

     

    

     

     

    Party
      A:    (Seal)

     

    Legal
      Representative:     or
      trustee:

     

     

     

     

    Party
      B:    (Signature
      or Seal)

     

    Date
      of
      Signing: May
      1,
      2007Unassociated Document

     

    Employment
      Contract of Key Officer

     

     

    
      	
              Party
                A:

            	
              Xi’an
                Amorphous Alloy Zhongxi Transformer Co,
                Ltd.

            

      	Party B:	Zewei
              Xu

    

     

    This
      Contract is signed on a mutuality voluntary basis by and between Party A and
      Party B in accordance with the “Labour Law of People's Republic of China."

    

    1.
      Term of the Contract: 

    Article
      1
      The term of this contract shall commence on July 1, 2004 and shall continue
      until December 31, 2009. 

    Probationary
      period : None.

    

    2.
      Job Description: 

    
      	
              Article
                2

            	
              Department
                of Party B:

            

      	 	Position: Research and
              Development 

      	 	Title: Chief
              Engineer. 

    

      

    Article
      3
      Party A may adjust party B’s position based on Party B’s objective condition,
      requirement of working, the ability and performance of Party B, Party B shall
      obey the management and arrangement of Party A, anyone who disobey the
      arrangement of Party A, Party A may terminate this contract.

    

    Article
      4
      Based on KPI that two parties agreed after consultation, Party B shall fully
      complete the assigned work by Party A within the limited period based on the
      economic index, job description and working procedure.

    

    Article
      5
      Party B shall follow the regulations of Party A.

    

    Article
      6
      In the effective period of contract, Party B shall not establish and keep
an
      employment relationship with third party.

    

    3.
      Working Hours, Rest and Leave

    Article
      7
      Party B shall conduct the flexible working hours after consultation by two
      parties, the normal working hours of Party B shall be eight hours each day
      in
      principle, party B may work overtime or arrange his/her leave by him/herself
      under this circumstance that Party B ensure to fully meet KPI for monthly,
      quarterly and yearly of Party A.

     

    Article
      8
      The Party A may extend working hours or work in his/her leave and legal holidays
      due to the requirements of its production or business based on the Article
      41
      and 42 of “ Law of the People’s Republic of China on Employment Contract”, Party
      A shall pay the overtime pay or adjust him/her leave based on the Article 44
      of
“ Employment Contract”.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article
      8
      The leave for sick, absence, marry and death, pregnancy is in accordance with
      the related
      regulations and “ Staff Hand Book” of Party A.

     

    4.
      Labor Protection and Working Conditions

     

    Article
      10 Party A shall strictly implement the related regulations of state and local
      government regarding security, labour protection and occupational hygiene,
      fully
      ensure Party B’s security and health in the process of working . 

     

    Article
      11 Party A shall provide Party B the qualified labour protection articles and
      safety working condition.

     

    Article
      12 Party A should provide Party B with occupational morals, technique, safety,
      hygiene and related regulation education and training. 

     

    5.
      Labor Compensation; 

    

    Article
      13 Party A implement yearly salary system based on “The Yearly Salary Program
      for Key Officers of Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd.” to
      Party B, Party A will pay Party B the basic yearly salary and performance yearly
      salary of RMB 3,000 after conducted KPI of year-end. 

     

    Article
      14 Party A shall pay Party B the basic salary of 2,000 in RMB each month in
      accordance with related regulations of state, local government and Party
      A.

     

    6.
      Social Insurance
      and Welfare 

     

    Article
      15 The
      Party
      B will pay all mandatory social insurance such pension insurance, medical
      insurance, unemployment insurance and other insurance according to relevant
      government and city regulations. At
      the
      time of termination or ending of an employment contract, Party A shall issue
      a
      proof of termination or ending of the employment contract and carry out the
      procedures for the transfer of Party B file and social insurance account.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article
      16 An illness or a non-work-related injury of Party B, Party A shall comply
      with
      the regulations based on the laws regarding the salary for illness leave and
      the
      set period of medical care. 

     

    Article
      17 An occupational illness or a work-related injury of Party B, Party A shall
      comply with the laws and regulations of state regarding the salary for illness
      leave and the set period of medical care. 

     

    Article
      18 Party A shall comply with the regulations regarding the remuneration based
      on
      the laws for a female employee in her pregnancy, confinement or nursing period.
      

     

    7.
      Labour Discipline 

     

    Article
      19 Party B shall comply with the regulations based on the laws of Party A
      regarding safety, hygiene, procedure and technique; take good care of the
      property of Party A, follow the occupational morals; attend actively the
      education and technique training which provided by Party A. 

     

    Article
      20 If Party B breaks the labour discipline, Party A shall take disciplinary
      measure or terminate this contract based on the regulations of
      company.

     

    7.
      Modification, Discharge, Termination and Renew of the Contract

     

    Article
      21 This contract may modify the related content, when the laws and regulations
      is modified which this contract relied upon.. 

     

    Article
      22 A major change in the objective circumstances relied upon at the time of
      conclusion of the employment contract renders it un-performable, Party A and
      Party B may modify the related content after consultations. 

     

    Article
      23 Party A
      may
      terminate an employment contract if Party B: 

     

    (1)
      Is
      proved during the probation period not to satisfy the conditions for employment;
      

     

    (2)
      Materially breaches Party A’s discipline or rules and regulations; 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (3)
      Commits serious dereliction of duty or practices graft, causing substantial
      damage to Party A; 

     

    (4)
      Has
      his/her criminal liability pursued in accordance with the law;

     

    (5)
      Failed to complete Party A’s assignment which links with KPI conducted by Party
      A for 2 years consecutively.(except the reason of Party A)

     

    Article
      24 Party A may terminate an employment contract by giving Party B 30 days’ prior
      written notice, if: 

     

    (1)
      After
      the set period of medical care for an illness or non-work-related injury, Party
      B can engage neither in his original work nor in other work arranged for him
      by
      Party A; 

     

    (2)
      Party
      B is incompetent and remains incompetent after training or adjustment of his
      position; 

     

    (3)
      A
      major change in the objective circumstances relied upon at the time of
      conclusion of the employment contract renders it un-performable and, after
      consultations, Party A and Party B are unable to reach agreement on amending
      the
      employment contract. 

     

    Article
      25 Party A may terminate this contract, if Party A is facing the bankruptcy
      and
      in the period of legal consolidation, or serious difficulties in production
      and/or business operations, after Party A has explained the circumstances to
      its
      Trade Union or to all of its employees , and also reported to the labor
      administration department. 

     

    Article
      26 Party A may not terminate an employment contract pursuant to Article 23
      and
      Article 24 hereof if Party B: 

     

    (1)
      Has
      contracted an illness or sustained a non-work-related injury, and the set period
      of medical care therefore has not expired; 

     

    (2)
      Is a
      female employee in her pregnancy, confinement or nursing period; 

     

    (3)
      Finds
      himself in other circumstances stipulated in laws or administrative statutes.
      

     

    (4)
      Occupational illness or work-related injury is confirmed that Party B has lost
      or partially lost his capacity to work, after appraisal by labour appraisal
      committee in city, district and county when the medical care is completed.
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article
      27 Party A may terminate an employment contract by giving Party B 30 days’ prior
      written notice.

     

    Article
      28 Party B may terminate his employment contract if Party A: 

     

    (1)
      In
      the period of probation; 

     

    (2)
      Party
      A uses violence, threats or unlawful restriction of personal freedom to compel
      Party B to work;

     

    (3)
      Fails
      to pay labor compensation in full and on time based on this
      contract.

     

    Article
      29 The Contract may be terminated automatically at the expiration. And it may
      be
      renewed through consultation by the two parties. 

     

    Article
      30 The Contract may be terminated for whom has concluded
      open-ended employment contract when the circumstances occurred for Party B,
      such
      as leaving the post, retirement, resignation or other agreed terms of
      termination of this contract. 

     

    9.
      Breach Liabilities 

     

    Article
      31 If Party A violates or terminates this contract with Party B based on Article
      24 and 25, Party
      A
      shall pay damages pursuant to related regulations.

     

    Article
      32 Party A provides special funding for Party B’s training and gives him
      professional technical training, if Party B requires to terminate this contract
      on the term of his service, Party B shall pay liquidated damages to Party A
      based on the training expenses.

     

    Article
      33 If Party A terminates this contract with Party B based on Article 26,
Party
      A
      shall pay damages to Party B pursuant to related regulations.

     

    Article
      34 Due to either party’s fault, if breaching the Contract, that party shall
      undertake the breach liability according to the extent to the performance of
      the
      Contract; if the two parties both breach the Contract, they shall undertake
      its
      separate liability according to the concrete situation. 

     

    Article
      35 Due to either party’s fault, if breaching the Contract to damage the other
      party. The damage should be compensated by the faulty party accordance with
      the
      relevant laws and regulations of PRC. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article
      36 If Party B resigns or be employed by other company without approval of Party
      A, Party A have right to require Party B return back or dismiss him, and Party
      B
      shall
      pay
      damages to Party A.

     

    Due
      to
      the force majeure, causing the non-performance or the damages to either party,
      the other party may not undertake the breach liability; 

     

    10.
      Other
      Matters Which Requires to be Included in Employment Contract

     

    Due
      to
      Party B’s special and important position, he may touch core technique and trade
      secrete, including all kinds of enterprise and clients information. Party B
      is
      not allowed to disclose the above confidential information to the third party
      or
      use by his privacy without agreement of Party A in his term of service. Party
      B
      shall return all the above confidential information to Party A when he resigns.
      If Party B disclose or copy the above confidential information and results
      the
      damages to Party A, Party B shall retrieve the losses and pay damages to Party
      A, otherwise, Party A have right to bring the case to
      a
      people's court.

     

    11.
      Labor Disputes 

     

    Article
      37 Where a labor dispute between the parties takes place during the performance
      of this Contract, the parties concerned may seek for a settlement through
      consultation; or either party may apply to the labor dispute mediation committee
      of their unit 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 within 60 days starting from
      the
      date of the occurrence of a labor dispute. If one of the parties is not
      satisfied with the adjudication of arbitration, the party may bring the case
      to
      a people's court.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.
      Others

     

    Article
      38 Any terms which is not include this contract conforms to relevant law,
      regulation, policy and the regulations of Party A.

     

    Article
      39 This contract will be valid after signed by both parties in two originals,
      Party A and Party B holds each one original.

     

    

     

     

    

     

     

    Party
      A:    (Seal)

     

     

    Legal
      Representative:     or
      trustee:

     

     

    

     

     

    Party
      B:    (Signature
      or Seal)

     

     

    Date
      of
      Signing:     July
      1,
      2004

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