EX-10.3 17 ff12017ex10iii_retoeco.htm EMPLOYMENT AGREEMENT WITH YUXIA JIA

Exhibit 10.3

Employment Contract – Yuxia Jia

 

BETWEEN:  Beijing REIT Technology Development Co., Ltd, a company legally incorporated under the laws of People’s Republic of China, having a mailing address at Room 1611, No.1 Building, No.208, Second Block, Lize Zhongyuan, Wangjing Xinxing Industrial Area, Chaoyang District, Beijing City, acting and represented herein by Mr. Li Hengfang, Legal Representative, declaring duly authorized, (hereinafter called the "COMPANY")

 

AND:   Mr. Yuxia Jia, (hereinafter called the “EMPLOYEE")

 

(COMPANY and EMPLOYEE hereinafter collectively called "Parties")

 

WHEREAS:

 

COMPANY requires the services of EMPLOYEE as Chief Financial Officer (CFO);

 

EMPLOYEE agreed to provide COMPANY his full-time services as CFO;

 

the Parties wish to confirm their agreement in writing;

 

the Parties have the capacity and quality of exercise all the rights necessary for the conclusion and implementation of the agreement found in this Contract;

 

THEREFORE THE FOREGOING, THE PARTIES AGREE AS FOLLOWS:

 

1. Employment

 

EMPLOYEE agrees to assume full-time for COMPANY (minimum of forty (40) hours per week) the role of CFO during the entire duration of the Contract;

 

2. Term

 

This Contract is for an initial term of 36 months, namely from September 1, 2016 to August 31, 2019, renewable for an additional period of 24 months unless either party terminates it in writing at least sixty (60) days before the expiration of the initial term;

 

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3. Responsibilities

 

EMPLOYEE agrees and undertakes to COMPANY to the following: The services must be made full time in a professional manner, according to the rules generally accepted by industry.

 

3.1 Set-up and/or oversee all financial and operational controls and metrics within the organization.

 

3.2 Maintain executive responsibility for financial operations, including working capital, capital expenditures, debt levels, taxes, budget, and general accounting.

 

3.3 Develop and direct financial plans to the strategic business plan, company growth, and market opportunities and direction.

 

3.4 Establish and maintain stable cash flow management policies and procedures, and ensure cash resources are available for daily operations and business and product development.

 

3.5 Analyze current and future business operations and plans to determine financial effectiveness.

 

3.6 Establish the performance goals, allocate resources, and assess policies for employees, through other managers.

 

4. CONSIDERATION

 

4.1 Service Awards

 

In consideration of the provision of services, COMPANY to pay EMPLOYEE, as compensation;

 

The gross amount of RMB102000 annually calculated at the rate of twelve (12) equal monthly installments consecutively of RMB8500 each.

 

4.2 Expenditure incurred

 

COMPANY will reimburse EMPLOYEE all reasonable expenses incurred in connection with this Contract, upon presentation of appropriate documentation. The date of reimburse EMPLOYEE shall be the 20th of each month.

 

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5. Commitment to confidentiality and nondisclosure

 

EMPLOYEE recognizes that certain disclosures to be provided by COMPANY have or may have considerable strategic importance, and therefore represent trade secrets for purposes of this Contract. During the term of this Contract and for a period of 36 months following the end of it, EMPLOYEE is committed to COMPANY to:

 

a) keep confidential and not disclose the information;

 

b) take and implement all appropriate measures to protect the confidentiality of the information;

 

c) not disclose, transmit, exploit or otherwise use for its own account or for others, elements of information;

 

6. Exclusivity of service provider

 

During the term of this Contract and for a period of 24 months following the end of it, EMPLOYEE is committed to COMPANY not render services to or for direct or indirect competitors of COMPANY.

 

7. Termination of Contract

 

Either party may terminate this Contract at any time, upon presentation of a sixty (60) days notice given to the other party.

 

8. GENERAL PROVISIONS

 

Unless specific provision to the contrary in this Contract, the following provisions apply.

 

8.1 Force Majeure

 

Neither party can be considered in default under this Contract if the performance of its obligations in whole or in part is delayed or prevented by following a force majeure situation. Force majeure is an external event, unforeseeable, irresistible and it absolutely impossible to fulfill an obligation.

 

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8.2 Severability

 

The possible illegality or invalidity of an article, a paragraph or provision (or part of an article, a paragraph or provision) does not in any way affect the legality of other items, paragraphs or provisions of this Contract, nor the rest of this article, this paragraph or provision unless a contrary intention is evident in the text.

 

8.3 Notices

 

Any notice to a party is deemed to have been validly given if in writing and sent by registered or certified mail, by bailiff or by courier to such party at the address listed at the beginning of this Contract or any other address that the party may indicate a similar notice to another party. A copy of any notice sent by mail must be sent by one mode of delivery mentioned above.

 

8.4 No Waiver

 

The inertia, neglect or delay by any party to exercise any right or remedy under this Contract shall in no way be construed as a waiver of such right or remedy.

 

8.5 Contract Amendment

 

This Contract may be amended only by a writing signed by all Parties.

 

9. Applicable Laws and Election of domicile

 

This Contract is subject to the laws of the People’s Republic of China. 

The Parties agree to elect domicile in the judicial district of Beijing City, China, and chose it as the appropriate district to hear any claim arising from the interpretation, application, and performance, the entry into force, validity and effect of this Contract.

 

10. Currencies

 

All sums of money under this Contract refer to Chinese currency.

 

11. Effectiveness and Copies

 

This Contract will come into force upon signature and seal by both Parities. This Contract is made in duplicate and both are of equally binding force. The COMPANY and the EMPLOYEE each holds one copy.

 

 IN THE CITY OF BEIJING CITY, CHINA, 

 

Beijing REIT Technology Development Co., Ltd

(Seal) 

   

/s/ Yuxia Jia

(Signature)

 

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