EMPLOYMENT AGREEMENT
This
Agreement made and entered into as of the 3 rd day of
April, 2007
by and
between Advanced Battery Technologies, Inc. ("employer"), and
Sharon
Xiaorong Tang ("employee"). The
parties recite that:
A.
Employer is engaged in New York and maintains business
premises at
Advanced Battery Technologies, Inc.
B.
Employee is willing to be employed by employer, and employer is
willing
to employ employee, on the terms and conditions hereinafter set
forth.
For the reasons set forth above, and in consideration of the
mutual
covenants and promises of the parties hereto, employer and
employee covenant and agree as follows:
1.
AGREEMENT TO EMPLOY AND BE EMPLOYED
Employer hereby employs employee as Chief
Financial Officer at the above-
mentioned premises, and employee hereby accepts and agrees to such
employment.
2.
DESCRIPTION OF EMPLOYEE'S DUTIES
Subject to the supervision and pursuant to the
orders, advice, and
direction of employer, employee shall perform such duties as
are
customarily performed by one holding such position in other
businesses or
enterprises of the same or similar nature as that engaged in by
employer.
Employee shall additionally render such other and unrelated
services and
duties
as may be assigned to her from time to time by employer.
3.
MANNER OF PERFORMANCE OF EMPLOYEE'S DUTIES
Employee shall at all times faithfully,
industriously, and to the best
of her
ability, experience, and talent, perform all duties that may be
required of and from her pursuant to the express and implicit
terms
hereof,
to the reasonable satisfaction of employer. Such duties shall
be
rendered at the abovementioned premises and at such other place or
places
as
employer shall in good faith require or as the interests,
needs,
business, and opportunities of employer shall require or make
advisable.
4.
DURATION OF EMPLOYMENT
The term of employment shall be Five years,
commencing on April 3, 2007,
and
terminating April 1, 2012, subject, however, to prior termination
as otherwise
provided herein.
5.
COMPENSATION; REIMBURSEMENT
Employer shall pay employee and employee agrees
to accept from
employer, in full payment for employee's services hereunder,
compensation
1.
At the rate of Sixty Thousand Dollars ($60,000)
per annum, payable $5,000 per month .
1
2.
Advanced Battery Technologies, Inc’s Common Stock at
the rate of One Hundred thousand shares ( 100,000 shares) in total
five years, payable 20,000 shares per year. The first payment
of shares shall be due on the commencement date of this
agreement.
In
addition to the foregoing, employer will reimburse employee for
any
and all
necessary, customary, and usual expenses incurred by her while
traveling for and on behalf of the employer pursuant to
employer's
directions.
6.
EMPLOYEE'S LOYALTY TO EMPLOYER'S INTERESTS
Employee shall devote all of her time, attention,
knowledge, and skill
solely
and exclusively to the business and interests of employer, and
employer shall be entitled to all benefits, emoluments, profits, or
other
issues
arising from or incident to any and all work, services, and
advice
of
employee. Employee expressly agrees that during the term
hereof she
will
not be interested, directly or indirectly, in any form, fashion,
or
manner,
as partner, officer, director, stockholder, advisor, employee,
or
in any
other form or capacity, in any other business similar to
employer's business or any allied trade, except that nothing
herein
contained shall be deemed to prevent or limit the right of employee
to
invest
any of her surplus funds in the capital stock or other
securities
of any
corporation whose stock or securities are publicly owned or are
regularly traded on any public exchange, nor shall
