Document:

Unassociated Document

    
      
        
          	
                  

                	
                  Jingwei
      International
      Limited

                

        

      

    

    
      

    

     

    Offer
letter

    

    February
23, 2010

    

    To: Mr.
Yong Xu

    

    Dear Mr.
Xu:

    

    I am
pleased to offer you the position as Chief Financial Officer (CFO) for Jingwei
International Limited, a US public company with business operations in the PRC.
In this position, you will report directly to Mr. Du Jian Guo, Chairman of the
Board and President of the Company   As well, you will report on
dotted line basis to Mr. Rick Luk, CEO of the US listed Company...

    

    The
general terms of our compensation plan for your position are summarized as
follows:

     

    
      
        
          
            
              	
                      HIRING
      ENTITY:

                    	
                      Jingwei
      International Limited, Nevada, USA

                    
	 
      	 
      
	
                      POSITION
      TITLE:

                    	
                      Chief
      Financial Officer

                    
	 
      	 
      
	
                      PLANNED START
      DATE:

                    	
                      February
      23, 2010

                    

            

          

        

      

    

     

    WORK
LOCATION

    

    This
position will be based in our Company headquarter in Shenzhen, PRC;
..

    

    COMPENSATION  &
BENEFITS (C&B) SUMMARY

    

    Your
C&B program will consist of an annual base salary, stock options, annual
vacation as well as statuory holidays that are applicable for all
employees

    

    Since you
are a US resident working in China, you will not be entitled to the statuory
pension and medical benefits for the local Chinese employees.

     

    
      
        
          
            
              
                	
                        Annual
      Salary Earnings:

                      	
                        RMB
      680,000, or monthly payment of RMB 56,667 on a gross basis in
      RMB.

                      
	 
      	 
      
	
                        Income
      Tax Obligation:

                      	
                        Income
      tax payment to relevant tax authorities is the  responsibility
      of the employee. The Company will deduct at source in accordance with
      guidelines from the PRC tax authorities.  However, as you are a
      US resident and is subject to US taxes, the Company has, within approved
      guidelines from the local authorities, agreed for the employee to handle
      personal tax planning to reduce the possibility for unduly double taxed
      under the two different income tax
systems.

                      

              

            

          

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Initial
      Stock Options Award:

            	
              This
      is a long term incentive program. Upon final acceptance of this offer, the
      company will “grant” you an option to purchase 150,000 (One hundred fifty
      thousand) shares of the Company’s common stock at a per-share exercise
      price equal to the closing price of the common stock at the date of this
      offer letter (February 23, 2010)

            

    

    

    
      	 	
              These
      options are for a term of 10 years and will expire on February 22 in year
      2020.

            

    

    

    
      	
               Options
      Vesting Schedule:

            	
              To
      reflect your commitment to the Company, the 150,000 option shares are to
      be vested over 2 years, with a vesting schedule and special terms outlined
      below:

            

    

    

    
      	
               
      

            	
              First
      50,000 shares – upon satisfactory completion of the first month of
      service.

               

              

                25,000
      shares on July 31, 2010

                25,000
      shares on January 31, 2011

                25,000
      shares on July 31, 2011

                25,000
      shares on January 31, 2012

              

            

    

     

    
      Special
Terms for the Options:

       

    

    
      
        	
              	
                (1) 

              	
                Mr.
      Yong Xu has agreed not to exercise the first  75,000 shares
      vested in 2010 prior to January 31, 2011; and the remaining 75,000 shares
      vested in 2011 and 2012 prior to Jan 31,
2012

              

      

    

    
      
        	
              	
                (2) 

              	
                Unvested
      shares will be cancelled if the employee leaves the
  Company

              

      

    

    
      
        	
              	
                (3) 

              	
                In
      the unlikely event of death or long-term disability incurred as result of
      work related activities (after completion of six months of service), the
      unvested shares will be vested and exercisable by the designated
      beneficiary of the employee (subject to the same term outlined in (1)
      above.

              

      

    

    
      
        	
              	
                (4) 

              	
                In
      the event of a  Company change of control, all unvested options
      shall immediately vest prior to the change of
      control.  

              

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Second
      Year Performance Award:

            	
              Subject
      to review and approval by the Board, performance bonus or additonal
      options may be granted, but not guaranteed in the second year, upon
      successful completion of the first year of service and based on
      performance of the employee in the first
year.

            

    

    
      
      

    

    
      
      

    

    
      
      

    

    
      
      

    

    
      
      

    

    

    
      	
              Annual
      Vacation:

            	
              Paid
      leave of 15 working days (after one year of service with the Company).
      Pro-rata for number of months worked if you do not complete a full year
      service.

            

    

    
      
      

    

    
      
      

    

    
      
      

    

    

    As CFO of
the Company, your main responsibilities are as follows:

    

    
      	
              1.  

            	
              Company
      finance and accounting planning, management and
  control

            

    

    
      	
              2.  

            	
              Consolidation
      of all subsidiaries’ financial
reporting

            

    

    
      	
              3.  

            	
              Internal
      and external financial reporting for the public
  company

            

    

    
      	
              4.  

            	
              Work
      with external auditors and lawyers for public company reportings to ensure
      timely submission of quarterly and annual filing with
  SEC.

            

    

    
      	
              5.  

            	
              Laise
      with investors and manage financing needs for the
  company

            

    

    
      	
              6.  

            	
              Develop
      and implement financial management and internal control policy for the
      company

            

    

    
      	
              7.  

            	
              Manage
      and oversee Sox 404 implementation

            

    

    
      	
              8.  

            	
              Corporate finance planning, analysis, forecasting and performance reporting.

            

    

    
      	
              9.  

            	
              Due
      diligence and assistance in tax efficient structure planning related to
      mergers or acquisitions

            

    

    
      	
              10.  

            	
              Treasury,
      tax planning, budgeting and Corporate risk
  management

            

    

     

    GENERAL TERMS OF EMPLOYMENT
AGREEMENT

    

    
      	
              1.  

            	
              This
      employment agreement is for three years with a three-month probationary
      period, but may be terminated by either party giving to the other at least
      three (3) months’ notice in
writing.

            

    

    
      	
              2.  

            	
              Amendment
      to terms in this agreement must be in writing and signed by both
      parties.

            

    

    
      	
              3.  

            	
              As
      a senior executive of the Company, you have an obligation to keep all
      company information confidential. As well, you are expected to make
      disclosure to the Board and seek approval on other official titles you
      might continue to hold and have active duties with other
      companies.  Accordingly, the Board may review such requests, and
      if the Board feels such position(s) would constitute a threat to the
      Company, or such activities would jeopardize your position with Jingwei
      International, the Board maintains the right to reject; and you should
      resign from those positions, if so requested by the
  Board.

            

    

    
      	
              4.  

            	
              You
      are responsible to comply with the tax laws of local authorities arising
      from this employment.

            

    

    
      	
              5.  

            	
              All
      of your benefits commence on your first day of employment with the
      Company.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    On behalf
of the Board and the management team, we look forward to working with you in
developing our business to create value for our customers, partners, employees
and shareholders.

     

     

     

    Sincerely
Yours,

    

    

    

    Geroge
Du

    Chairman
of the Board

    Jingwei
International Limited

    

    

    I accept
the above offer

     

    

    ____________________

    Yong Xu
February 23, 2010Unassociated Document

     

    
      INDEPENDENT DIRECTOR
AGREEMENT

      

      THIS
INDEPENDENT DIRECTOR AGREEMENT (“Agreement”) is made effective
as of May 8, 2010 by and between HUIFENG BIO-PHARMACEUTICAL TECHNOLOGY, INC., a
Nevada Corporation (“Company”), and LUI CHI KEUNG
(“Director”).

      

      WHEREAS, it is essential to the Company
to attract and retain as directors the most capable persons available to serve
on the board of directors of the Company (the “Board”); and

      

      WHEREAS, the Company believes that
Director possesses the necessary qualifications and abilities to serve as a
director of the Company and to perform the functions and meet the Company’s
needs related to its Board.

      

      NOW, THEREFORE, the parties agree as
follows:

      

      1.  Service as Director and
Chairperson of Audit Committee. Director will serve as a director of the
Company for one year since the date hereof in accordance with the bylaws of the
Company and perform all duties as a director of the Company, including without
limitation (1) attending meetings of the Board, (2) serving as the Audit
Committee Chairperson along with other committees of the Board (each a “Committee”) and attending
meetings of each Committee of which Director is a member and (3) act in a good
manner not opposed to the best interests of the Company.

      

      2.  Compensation and
Expenses.

      

      (a)  Director
Compensation. The Company will pay to Director an annual stock grant (the
“Compensation”) of
30,000 shares of the Company’s restricted common stock (“Stock”). Such Stock shall be
delivered on December 31 of each year of service, as adjusted below. The Board
reserves the right to increase the Compensation from time to time, but may not
reduce the Compensation below the amounts stated above. If Director’s service on
the Board or any Committee begins or ends prior to completion of one year, as
measured from the effective date, and each succeeding anniversary of the
effective date, the Compensation for that year will be prorated on a per diem
basis as appropriate to reflect the portion of the year during which services
were rendered.

      

      (b)  Expenses.  The
Company will reimburse Director for all reasonable, out-of-pocket expenses,
approved by the Company in advance, incurred in connection with the performance
of Director’s duties under this Agreement (“Expenses”).

      

      (c)  Other
Benefits.  The Board may from time to time authorize additional
compensation and benefits for Director, including stock options or restricted
stock.

      

      (d)  Payments.  The
Compensation of Stock as set forth in Section 2(a) of this Agreement shall be
issued by the end of each year.  The Company will pay for Expenses as
incurred upon submission of receipts and a written request for
payment.  The Company may withhold from any payment any amount of
withholding required by law.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      3.  Amendments and
Waiver.  No supplement, modification or amendment of this
Agreement will be binding unless executed in writing by both
parties.  No waiver of any provision of this Agreement on a particular
occasion will be deemed or will constitute a waiver of this Agreement on a
particular occasion will be deemed or will constitute a waiver of that provision
on a subsequent occasion or a waiver of any other provision of this
Agreement.

      

      4.  Binding
Effect.  This Agreement will be binding upon and inure to the
benefit of and be enforceable by the parties and their respective successors and
assigns.

      

      5.  Severability.  The
provisions of this Agreement are severable, and any provision of this Agreement
that is held by a court of competent jurisdiction to be invalid, void, or
otherwise unenforceable in any respect will not affect the validity or
enforceability of any other provision of this Agreement.

      

      6.  Governing
Law.  This Agreement will be governed by and construed and
enforced in accordance with the laws of the State of Nevada applicable to
contracts made and to be performed in that state without giving effect to the
principles of conflicts of laws.

      

      IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date shown
above.

      

      
        	
                HUIFENG
      BIO-PHARMACEUTICAL TECHNOLOGY, INC.

              	 
      	
                DIRECTOR:

              
	 
      	 
      	 
      
	
                By:

              	
                /s/
      Jing’an Wang

              	 
      	
                By:

              	
                /s/
      Lui Chi Keung

              
	
                Name: 
      

              	
                Jing’an
      Wang

              	 
      	
                Name: 
      

              	
                Lui
      Chi Keung

              
	
                Title:

              	
                Chief
      Executive Officer

              	 
      	 
      	 
      
	
                Date:

              	
                May
      8, 2010

              	 
      	
                Date:

              	
                May
      8, 2010

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