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Exhibit 10.2
Dated 8th day of February, 2005
Form of
Executive Employment Contract
between
Global Pharmatech, Inc.
and
Xiaobo Sun
<PAGE>
This Contract was made between the following two parties on 8th
February, 2005:
(1) Global Pharmatech, Inc., duly incorporated under the laws of
the State of
Delaware ("Party A"); and
(2) Xiaobo Sun, ("Party B").
Both parties have entered into the following agreement through
friendly
negotiations on the principle of equality and mutual benefits in
order to
confirm and regulate the relationship between Party A as the
appointor and Party
B as the appointee in respect of the service.
Article 1 Appointment
1.1 Party A shall appoint Party B as Chief Executive Officer,
President and
Director of the Board of directors (the "Board") in accordance
with the terms of
this Contract.
1.2 Party B agrees to be appointed as Chief Executive Officer,
President and
Director of the Board of directors in accordance with the terms
of this
Contract.
Article 2 Duties
2.1 Party B's duties, powers and responsibilities as Chief
Executive Officer,
President and Director of the Board shall be those which are
customary for such
position, as may be determined from time to time by the Board.
Party B shall
report to the Board and Chairperson of the Board, and agrees to
perform and
discharge such duties well and faithfully and to be subject to
the supervision
and direction of the Board and of the Chairperson.
2.2 The position of Chief Executive Officer, President and
Director of the Board
is a full-time position. Party B agrees to devote full time
effort, attention,
and energies to this position, and will not render any
professional services or
engage in any activity that might be competitive with, adverse
to the best
interest of, or create the appearance of a conflict of interest
with Party A.
2.3 Party B agrees to abide by the policies, rules and
regulations of Party A as
they may be amended from time to time.
Article 3 Remuneration
3.1 From the Effective Date, the remuneration to be received by
Party B for the
performance of his services under this Contract shall be
US$5,000 per month, to
be paid monthly.
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3.2 Party B shall be granted the option to purchase Party A's
stock of 200,000
shares under the terms of the applicable stock option plan then
in effect, upon
the achievement of working goals as determined by the Board.
Article 4 Non-Competition
4.1 Unless the relevant competition is made known to the public
and (if
required) approved by the relevant regulatory authorities, Party
B warrants that
during the term of his appointment as Party A's outside
director, Party B shall
not in any way engage in any business in competition with Party
A, or seek any
position from any company or individual who competes in business
with Party A or
subsidiaries and branch companies of Party A ("Party A's
Group"), or accept any
capacity or position offered by any company or individual who
competes in
business with any member of Party A's Group.
Article 5 Confidentiality Liability
5.1 Party B is aware that he will gain access to secret
information possessed by
members of Party A's Group and/or kept in custody by members of
Party A's Group
(hereinafter referred to as "Confidential Information") in the
performance of
his duties hereunder, including but not limited to, documents,
materials, data,
information, plans and insider information. Party B confirms
that such
Confidential Information is solely owned by members of Party A's
Group and/or is
kept in custody by members of Party A's Group.
5.2 Whether during the term of this Contract or within any time
after the
termination of Party B's appointment as Party A's director,
Party B warrants
that (except such Confidential Information may be disclosed to
the public not in
violation of the confidentiality undertaking under this
Contract):
(a) Party B shall not divulge or disclose the Confidential
Information
to any thi
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