Document:

f1012gex10viii_chinaxing.htm

Exhibit 10.8

CODE:

LABOUR CONTRACT

 

 

 

 

 

  

  

  

Party A (Employer)

Name: Guangdong Xing Bang Industry Information & Media Co. Ltd..

Address: 7/F West Tower, Star International Mansion,No.6-20 Jinsui Rd.,Tianhe District,

Legal Representative (Principal): Xiaohong Yao

Legal Form: Limited Liability Company

Contact No.: _______

Party B (employee)

Name:                       Haigang Song

Gender:  Male

Registered Permanent Residence: ______________

Current Residential Address: ______________________

ID NO.: 430302196603210055

Contact No.: _____________

In accordance with Labor Contract Law of PRC and relevant laws, regulations, both Parties entered into this contract in compliance with the principal of equality, mutual benefit, legality, bona fide and credibility through consultation.

 

  

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1.  

	
Term of the Contract

	
Article 1.  

	
both Parties agree on the term of the Contract through consultation to      adopt option ___.

	
i.  

	
Fixed term: from January 1, 2010(M/D/Y) to December 31, 2012(M/D/Y). In which, the probation period is from ____/___(M/D/Y) to __/____(M/D/Y).

	
ii.  

	
Open-ended: from ____________(M/D/Y) to _________ (M/D/Y). In which, the intern period is from _______(M/D/Y) to ______(M/D/Y).

	
iii.  

	
With a period to complete the prescribed work: from __________/__(M/D/Y) to _________ (M/D/Y).

	
2.  

	
Job Content and Location

	
Article 1.  

	
Party A appoints Party B as Chief Financial Officer. The job location is in Guangzhou City.

Party A and Party B may enter into an Employment Agreement to specify responsibilities and requirements of such particular position.

	
Article 2.  

	
Party B shall fulfill his/her duty of the position in a timely manner pursuant to the content and the requirements of such position, and obey rules made by Party A

	
3.  

	
Working Hours and Vacations

	
Article 1.  

	
Party A arranges Party B to follow the working time shift as __i___.

	
i.  

	
Standard working hours: Party B shall work 7.5 hours a day and 5.5 days  a week.

	
ii.  

	
Comprehensive working hours: average daily and weekly working hours shall not exceed the statutory standard.

	
iii.  

	
Flexible working hours: Based on the guarantee of employees’ health and adequate consideration of the employees’ opinion, Party A may adopt proper ways including arranging a shift to work and rest collectively, adjusting and arranging their rest and flexible working time to ensure the rights of employees and completion of production and tasks.

	
Article 2.  

	
Party A shall ensure Party B’s right of rest. Party B is entitled to all legal holidays and legal vacations of visiting relatives, marriage, funereal and paid leaves.

 

  

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4.  

	
Remuneration

	
Article 1.  

	
Party A sets up a system of salary allocation based on its production characteristic and productivity effect. Party B’s salary is determined under the principal of equal payment for equal work, taking consideration of his/her skills, working strength, working conditions and contribution.

	
Article 2.  

	
Party A adopts the option __i_ to pay to Party B.

	
i.  

	
Time wage: salary of Party B is RMB     RMB9,000      monthly, bonus is determined by Party B’s actual contribution.

	
ii.  

	
Piece wage: quota of Party B is (are) ______, price for per piece is ____

	
iii.  

	
Determined according to Party A’s salary system.

The salary standard of Party B in probation period is ________.

	
Article 3.  

	
Party B’s bonus should be paid in accordance with the _n/a_ The bonus should be _n/a____.

	
Article 4.  

	
Party A shall fully pay to Party B before 15th date in each month in cash or money wiring. If the payment date is a holiday, Party A shall pay to Party B as of the nearest business day prior to such holiday. Party A shall record the time, amount, working days and signature of the salary payment and provide a payroll to Party B.

	
Article 5.  

	
Party A shall compensate Party B in the event that, Party A arranges Party B to work over time or on legal holiday(s). In such case, Party A shall either arrange Party B to rest or pay extra salary in accordance with relevant law and regulations.

	
5.  

	
Social Insurance and Welfare

	
Article 1.  

	
Both Parties must participate in social insurance and pay for insurance fees in compliance with national and local laws and regulations. Party A shall withhold insurance fees which Party B bears.

	
Article 2.  

	
During the valid term of this Contract, Party B shall enjoys treatments, such as rest, vacation, rest of sickness, injury, industrial injury, breeding, death, and also medical treatment period, pregnancy, perinatal period in accordance with relevant laws and regulations,.

	
Article 3.  

	
Party A provides following supplementary insurance and welfare to Party B: ____________________________.

 

  

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6.  

	
Working Protections and Working Conditions

	
Article 1.  

	
Party A shall establish a complete system of operation, specification, working safety and occupational hazards prevention and provide necessary training to Party B. Party B shall strictly obey rules and regulations during working.

	
Article 2.  

	
Party A shall provide Party B with occupational safety and health conditions and as well as any protection equipments conforming to relevant laws and regulations. Party A shall arrange physical examination for Party B if Party A puts Party B on the position with occupational hazards.

	
Article 3.  

	
If any position has potential hazards, Party A shall fulfill its obligation to notice Party B and provide health and safety education to reduce occupational hazards and prevent accidents during working.

	
Article 4.  

	
Party B has the right to refuse any direction that is against the rules or risky working and would damage Party B’s health. Party B has the right to criticize, report and sue against Party A for any conditions that would damage health and safety.

	
7.  

	
Implementation and amendment of Contract

	
Article 18.  

	
Both Parties shall implement its obligations in compliance with this Contract.

	
Article 19.  

	
Change of name, legal representative, principal and investor(s) of Party A would not affect the implementation of this Contract.

	
Article 20.  

	
Any merger and separation of Party A would not affect the effectiveness of this Contract, and the successor of Party A shall implement this contract continuously.

	
Article 21.  

	
This Contract may be amended in writing through consultation of both Parties.

 

  

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8.  

	
Termination of Contract

	
Article 22.  

	
Termination of this Contract shall be in compliance with Article 36, 37, 38, 39, 40, 41, 42, 43, 44 of Labour Contract Law.

	
Article 23.  

	
If any party terminates this Contract which falls within the conditions of Article 46 of the Labour Contract Law, Party A shall compensate Party B economically.

	
Article 24.  

	
If Party A terminates this Contract illegally where Party B requests to continuous implement, Party A shall implement continuously. Where Party B does not request to enforce this contract or this contract has become unenforceable, Party A shall pay twice of economic compensation to Party B.

Where Party B terminates this Contract illegally and causes loss to Party A, Party B shall bear the liability resulted therefrom.

	
Article 25.  

	
In the event that termination of this contract occurs, Party A shall issue a certificate of termination of this Contract based on relevant laws and regulations. And Party shall transfer Party B’s social insurance and files within 15 days.

Party B shall arrange work hand-over pursuant to the agreement by both parties. Any compensation payable shall be paid on the work hand-over date.

	
9.  

	
Miscellaneous

	
Article 26.  

	
If Party A provides professional training to Party B and pays for the training fees, Party A and Party B may enter into an agreement regarding period of service.

Party B shall pay penalty in the event that Party B violates the service period agreement.

	
Article 27.  

	
If Party B has an obligation that to keep the confidential information, Party A and Party B may enter into an agreement regarding non-competition.

Party B shall pay for penalty in the event that Party B violates the non-competition agreement and Party B shall bear the liability that if any loss was caused by the violation of the non-competition agreement.

	
Article 28.  

	
Following agreements as appendixes of this Contract:

	
i.  

	
Position agreement

	
ii.  

	
Training agreement

	
iii.  

	
Confidentiality agreement

	
iv.  

	
......

	
Article 29.  

	
Other matter(s) agreed by both Parties:

_____________________________________

_____________________________________

_____________________________________

 

  

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Article 30.  

	
Any labour dispute arising out of this Contract between the Parties to this Contract may be resolved through consultation. If the dispute cannot be resolved through consultation, either Party may submit the dispute to arbitration or the court.

	
Article 31.  

	
Any matter is not covered by this Contract shall be in compliance with national and local regulations.

	
Article 32.  

	
This Contract becomes effective upon the signing date of both Parties. This Contract shall be signed in two (2) copies, each Party shall hold one (1) copy.

 

	Party  A (Seal) 	Party B (Signature) Haigang Song
	 	 
	

Legal Representative (Principal)

	 
	

(Signature or Seal)

	 
	 	 
	Signing Date:  01/01/ 2011      	Signing Date: 01/01/ 2011
	 	 
	Witness Authority    	Witness (Seal)
	 	 
	

Date of witness:

	 

 

 

7f8k060311ex10i_mbeach.htm

 

Exhibit 10.1

Exhibit Item 1

MEMORANDUM OF UNDERSTANDING

THIS MEMORANDUM OF UNDERSTANDING (“MOU”) dated May 31, 2011 (the “Effective Date”) is entered into by and between Pomega Inc., with its principal offices located at 58 Indian Rock Road, San Anselmo, CA 94960 ("Pomega") and mBeach Software Inc. ("mBeach") with its principal offices located at 107 Hashmonaim Rd., Tel Aviv 61202, Israel; each company a Party and together the “Parties”, and is intended to set forth the basic understanding of the Parties regarding a proposed business combination.     

 

RECITALS

WHEREAS, mBeach via its wholly owned subsidiary SCS Ltd. is developing the SkinScan 650, a medical device to be used in physicians clinics to diagnose certain classes of  skin cancer, and is the sole owner of related proprietary technology, information and knowhow (the “Product”);

WHEREAS, mBeach is interested in entering into strategic investments in or ventures  with companies engaged in businesses synergetic to its core business in order to enhance shareholder value and attract more funding necessary to complete the development of the Product and then to market the finished product internationally;

WHEREAS, mBeach is a publicly traded company under the ticker: MBHS.PK and has no current plans to “go-dark”, nor turn the company into a non- publicly traded company (private);

WHEREAS, Pomega is a US cosmeceutical and nutraceutical company engaged in the development, marketing and distribution of a proprietary line of wellness, beauty and dermatological products sold under the brand Pomega5® and is the sole owner of the product formulations, information and knowhow;

WHEREAS, Pomega is raising additional funds to launch its marketing and sales campaign and to support certain marketing related R&D and clinical trials;

WHEREAS, the Parties agree that the present and future marketing efforts of Pomega will be synergetic to the marketing efforts of SCS when its Product is market ready; and

WHEREAS, the Parties agree that for the purposes of the transaction contemplated hereunder the pre-money valuation of Pomega is US$5.950 million,

NOW, THEREFORE, in consideration of the representations, warranties, covenants, promises, and other agreements contained herein and for good and valuable consideration, the parties hereby agree as follows:

AGREEMENT

1.      Binding Effect of this

 

1.1        The recitals hereinabove are hereby incorporated by reference into this MOU.

1.2        Binding Effect.  By signing this MOU, each Party agrees and acknowledges that it wishes to enter into a business relationship with the other Party referred to hereinafter as a limited consolidation. This MOU setting forth the framework for the limited consolidation is intended to be a legally binding agreement on the Parties regarding the subject matter described herein as of the date hereof and until the MOU is terminated by its terms or until incorporated into a more detailed agreement.

To avoid any doubt, if this MOU does not result in an agreed upon and executed term sheet per section 1.4 below during the Term [defined below], or if a Definitive Agreement [defined below} is not concluded by the Parties negotiating in good faith prior to or upon the closing date of an investment, or if Pomega exercises its right to unilaterally terminate this MOU per section 1.4 below, this MOU shall be considered null and void, with no consequences to the Parties.

 

  

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1.3        Definitive Agreement. The Parties agree to provide full disclosure of elements pertinent to the transaction and to negotiate in good faith the terms and conditions of a comprehensive and definitive agreement based on this MOU (the "Definitive Agreement") to be executed no later than the date of Closing on an investment in mBeach which meets the minimum requirements set by the Parties. The Definitive Agreement will require the approval of the Parties’ board of directors acting on advice of legal counsel.

 

1.4        Term. This MOU shall be binding for a period of 4 (four) months following the execution by the last Party to sign (“Term”). This MOU may be extended beyond the Term by either: a) mutual agreement in writing of the Parties, or, b) for another 1 (one) month, in the event mBeach secures an investment term sheet, which must be pre-approved by both Parties, during this 4 months period for at least US$2 Million as straight equity or a committed equity line, from credible third parties / investors to fund the budget requirements of Pomega and SCS, as may be agreed to by the Parties. This MOU may be terminated at any time by mutual agreement of both Parties, and unilaterally by Pomega, upon the occurrence of a “material adverse change“ such as an SEC or FINRA action against mBeach or its directors, a class action against mBeach, a lawsuit against mBeach or SCS, or non-disclosure of a material fact.

1.5       Costs.   Except as provided hereafter in the following sentence, each Party shall bear its own costs and expenses to include legal costs. mBeach hereby commits to pay the costs of (and shall engage directly the service providers to conduct) its own audit and the audit of Pomega Inc. as may be required by US SEC rules, any appraisal to the extent required, any upfront due diligence costs, all proxy fees to extent required, all filing fees with the SEC or FINRA to the extent required and all costs to register the shares issuable to the Pomega shareholders under the share swap described in Section 2 (a) below.

 

1.6       Joint efforts.    During the term of this MOU, mBeach and Pomega, jointly, will engage in commercially reasonable efforts to locate and secure from accredited third party investors at least US$2 million and maximum US$5 million to meet the financing needs to execute this limited consolidation and the financing resources required for both Parties business activities. The investment terms offered by the third party investor, and the final agreement, must be approved by each Party.

 

1.7        Additional Terms.  The scope of the issuance, the schedules and the amounts of funds to be raised shall be decided by mutual consent by Pomega and mBeach, as provided in section 5 below.

 

 

  

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1.8        No Shop.  During the term of this MOU neither Party shall seek alternative direct investments in such Party or SCS without written consent of the other Party.

 

2       The Contemplated Consolidation

The Parties agree that the limited consolidation will be achieved upon the Closing on an investment in mBeach, which is intended to coincide with the execution of the Definitive Agreement, in the following manner:

	
(a)  

	
The share swap part: Pomega’s shareholders will subscribe to purchase 21% of newly issued common stocks of mBeach fully diluted post a first investment by a third party investor in exchange for 21% of Pomega’s shareholders common stock,

	
(b)  

	
The cash investment:  Simultaneously, mBeach will subscribe to purchase 30% shares of common stocks in Pomega for US$ 2.550 Million.  Shares for cash invested shall be released from the Trust defined in Section 3 below only upon full payment of $2.550 Million.

Bringing the total holding at closing by mBeach of Pomgea to 51% out of a post-closing company valuation of Pomega of US$8.5 million.

All common shares issuable by mBeach under subsection (a) above shall carry registration rights which could be exercised independently as [i] a demand registration and / or [ii] as piggyback rights with the first third party investor.

The balance of the funds raised at the closing will be used by mBeach to support the R&D activities of SCS.

The Definitive Agreement will contain a share purchase agreement for the mBeach shares (inclusive of registration rights) and a share purchase agreement for the Pomega shares, each with the proper representations and warranties.

3.      Trust, the Set Up and the Exchange

3.1        The Trust.  Upon the execution of this MOU, The Parties shall set up a Trust arrangement by a trustee to be nominated (the “Trustee”) who will be instructed by the parties to act in accordance with a Trust Agreement to be concluded along with the Definitive Agreement.

3.2        Shares held in Trust.  The Trustee will accept transfers of shares as follows:  (a) Pomega and its shareholders will transfer onto the Trustee such amount of Pomega shares equal to 51% of the issued share capital of Pomega on a fully diluted basis, and (b) mBeach will issue onto the Trustee such amount of newly issued shares of mBeach equal to 21% of mBeach shares of a fully diluted basis following a first investment or tranche, as the case may be. These shares shall be exchanged as provided in the Trust Agreement.

 

 

  

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3.3        Action on behalf of Pomega.  The Trustee will be instructed by Mrs. Tzeira Sofer as to the allocation and distribution of the 21% shares of mBeach to the Pomega shareholders upon Closing.

3.4        Voting control of Pomega.  To allow the smooth operation of Pomega’s business during the Term and following the Closing on an investment in mBeach, in addition to an investment agreement between Pomega and mBeach which will protect the rights of the minority shareholders of Pomega, Pomega upon notice and consultation with mBeach shall enter into an employment agreement with Mrs. Sofer to reflect her duties, responsibilities and contribution to the success of Pomega as the CEO and President of the company,  and simultaneously shall issue to Mrs. Sofer a single Preferred Share of $10 par value, which shall grant Mrs. Sofer the following rights over the management and affairs of Pomega for so long as she, or her assignee, holds or controls directly or indirectly via mBeach at least 20% of the outstanding issued share capital of Pomega:

Affirmative rights:  Mrs. Sofer shall serve as the CEO, President and Chairman of the Board of Pomega and shall have the right to appoint company officers subject to consultation with mBeach, and the right to select and appoint at least 2 members to the board of directors of Pomega out of 5 members and shall have a right to veto 1 board member [in other words, one member will be appointed by mutual consent].

Protective rights:  Mrs. Sofer shall have veto rights over [a] the sale, licensing and disposition of assets of Pomega or its business or Pomega, [b] borrowing and leasing, [c] raising additional capital for Pomega, [d] selection of management of subsidiaries, [e] selection of subcontractors and production facilities, [f] selection of a marketing plan for Pomega, [g] hiring consultants, [h] approval of a budget, [i] amendments of Pomega’s certificate of incorporation and/or by-laws, [h] declaration and payment of dividends, [j] expenditures in excess of the budget, [k] selection of direct or indirect [via mBeach] strategic partners to Pomega, [l] the selection of a location of the headquarters of Pomega, and [m] whether or not to release  Pomega confidential and proprietary information.

 

3.5        Board Representation.  Upon the execution of the Definitive Agreement, and the presentation of a valid D&O Insurance Policy for mBeach, Mrs. Sofer shall appoint a director on her behalf to the board of directors of mBeach and mBeach will appoint a director to the board of directors of Pomega.

 

 

  

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3.6        Public Company.  Any decision by mBeach to become a non-public company or a non-reporting company will require a majority of 60% of the shares of mBeach entitled to vote. mBeach will commit to continue to maintain its status as a publicly traded reporting company for at least 36 months after the execution of the Definitive Agreement.

 

4.     Adjustments

 

The Parties agree to discuss in good faith adjustments to the agreed upon holdings in Pomega or mBeach per Section 2 above to meet the requirements of a third party investor, if his term sheet is approved by both Parties.

5.     Budgets.

 

The Parties shall mutually agree on a 3 years independent budget for SCS and for Pomega, and on the cash requirements of each company for the first year of operations following the Closing.

Since the funds raised via mBeach during the first 2 years are intended primarily to acquire shares in Pomega per Section 2(b) and to support its marketing efforts, the Parties agree that to the extent the investment by a third party is made via a committed equity line allowing consecutive tranche withdrawals, out of the first two withdrawals post-closing with an investor, Pomega shall receive no less than $250,000 [unless the Parties agree in writing otherwise].  The Parties shall mutually plan all future withdrawals based on agreed upon budgets of each company and the performance of the mMeach shares on the financial markets.

The Parties further agree that the cash needs of Pomega for the first and second year shall be no less than US$2 Million[but no less than US$1.5 Million for the first year] during which time Pomega will be expected to reach the milestones set in the plan and agreed to by mBeach.

If Pomega’s cash flow requirements were to exceed US$ 2 Million the parties shall discuss the options available to Pomega to raise  more money to include Pomega borrowing from banks, Pomega raising equity or debt from third parties, or Pomega borrowing from mBeach after mBeach raises more money for this purpose.

The terms of the loans from mBeach will include collateral, long term repayment schedules, market rate interest, etc.

6.     Effective Date

This MOU is effective upon signature of the last of the Parties to sign and will remain in effect unless and until terminated as provided under Section 1.4.

 

  

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7.     Amendments

This MOU may be modified or amended by written agreement among the Parties hereto.

 

8.     Costs of Consultants.  Each party shall bear the cost of its own consultants.

9.     Governing Law and Jurisdiction.  State of New York, disputes to be handled via a binding arbitration.

 

The present MOU describes the general conditions and arrangements for future cooperation between the Parties. It is legally binding on the parties. The exact terms and conditions of this future cooperation will be negotiated in due course and laid down in a Definitive Agreement.

Signature: /s/ Yossi Biderman

 

For mBeach Software, Inc.

 

 

Signature: /s/ Tzeira Sofer

 

For Pomega Inc.

 

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