Exhibit 10.23
MASTER EXECUTIVE EMPLOYMENT
AGREEMENT
Dear Wang Chao:
This Master Executive Employment Agreement,
dated as of April 1, 2004 (this “ Agreement ”),
is made and entered into by and between you and AsiaInfo Holdings,
Inc., a Delaware corporation (the “ Company ”).
For purposes of this Master Agreement, “ Group ”
means the Company and any direct or indirect subsidiaries of the
Company.
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1.
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PURPOSE OF
THIS AGREEMENT AND THE SUPPLEMENTARY AGREEMENTS
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1.1
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The purpose of
this Agreement is to set forth certain principal terms and
conditions that apply to all of the employment services you render
to the Company and other members of the Group, either directly or
pursuant to secondments or similar arrangements. Your employment
shall also be governed from time to time by certain additional
written agreements entered into between you and the Company or
other members of the Group (hereinafter “ Supplementary
Agreements ”), as well as the written policies of the
Company and the Group. The term of your employment, along with your
salary and benefits and the provisions relevant to the termination
of your employment by you or the Group are set forth in the
Supplementary Agreements. Any of the Supplementary Agreements may
be terminated, modified or amended from time to time in accordance
with their respective terms. In the event of any conflict between
the terms of any such Supplementary Agreement and the terms hereof,
the terms hereof shall govern.
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1.2
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Currently, the
Supplementary Agreements in effect between you and the Company are
as follows:
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1.2.1
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the Labor
Contract between AsiaInfo Technologies (China), Inc., a company
organized under the laws of the People’s Republic of China
(“ AsiaInfo Technologies ”) and you (the “
Labor Contract ”); and
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1.2.2
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the Change of
Control Agreement between you and the Company dated as of the date
hereof.
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2.
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CONFIDENTIAL
INFORMATION AND INVENTIONS
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You agree to comply strictly with
the confidentiality and invention assignment provisions attached to
this Agreement as Appendix I.
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3.1
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You acknowledge
that:
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3.1.1
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you possess
skills that are special, unique or extraordinary;
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3.1.2
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the level of
compensation and the provisions in the Supplementary Agreements for
compensation are partly in consideration of and conditioned upon
your not competing with the Group;
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3.1.3
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the provisions
of this Clause 3 are essential to protect the business and goodwill
of the Group.
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3.2
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You agree that
during your employment with the Group, and for a period of six (6)
months thereafter (the “ Covenant Period ”) you
will not render services for any organization, or engage directly
or indirectly in any other employment, business, or business
related activity unless you receive the prior written approval of
the Company’s Board of Directors (the “ Board
”) to hold such outside employment or engage in such business
or activity. Such written approval will not be unreasonably
withheld if such outside employment, business or activity would not
in any way be competitive with the business or proposed business of
the Group or otherwise conflict with or adversely affect in any way
your performance of your employment obligations to the
Group.
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3.3
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You agree that,
during your employment, you shall devote substantially all your
business efforts and time to the Group. You further agree that,
during your employment, you will not actively engage in any other
employment, occupation or consulting activity for any direct or
indirect remuneration without the prior approval of the Board;
provided, however, that you may:
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3.3.1
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serve in any
capacity with any professional, community, industry, civic,
educational or charitable organization;
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3.3.2
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serve as a
member of corporate boards or directors on which you currently
serve and, with the consent of the Board (which consent shall not
be unreasonably withheld or delayed), other corporate boards of
directors; and
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3.3.3
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manage your
personal investments and legal affairs so long as such activities
do not materially interfere with the discharge of your duties to
the Group.
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3.4
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You agree that
during your employment and the Covenant Period, except as provided
below, you will not:
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3.4.1
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accept
employment with or render services or advice to any organization,
or engage, directly or indirectly in any business that competes
with the business of the Group in any province in the
People’s Republic of China (the “ PRC ”)
where the Group is physically located or in which it generates more
than 5% of its China revenues, as well as all areas of Hong Kong,
Macau and Taiwan;
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3.4.2
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become an owner
of any company which provides products or services that are
competitive with those offered or planned by the Group, including,
but not limited to, companies offering system integration services
or telecommunications infrastructure software products in the PRC,
Hong Kong, Macau or Taiwan (the business activities referred to in
this paragraph will hereinafter be referred to as the “
Business ”); or
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3.4.3
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directly or
indirectly disrupt, damage or interfere with the operation or
business of the Group by soliciting, recruiting, diverting, taking
away or otherwise interfering with any customers or clients of the
Group; or
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3.4.4
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directly or
indirectly solicit or encourage any employee or consultant of the
Group to terminate his or her employment or engagement, or to
accept employment or an engagement with any other
company.
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3.5
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Notwithstanding
the foregoing, you may own, directly or indirectly, solely as an
investment, up to, but not more than, one percent (1%) of any class
of “ publicly traded securities ” of any company
engaged in the Business. The term “ publicly traded
securities ” shall mean securities that are traded on an
internationally-recognized securities exchange.
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3.6
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If any
restriction set forth in this Clause is found by a court or
arbitrator to be unenforceable by reason of its extent, duration,
geographical scope or for any other reason, then you agree, and
hereby submit, to the reduction and limitation of such prohibition
to such extent, duration, geographical scope or other provision as
shall be deemed enforceable.
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3.7
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You acknowledge
that irreparable harm will be suffered by the Company in the event
of the breach by you of any of your obligations under this
Agreement, and that the Company will be entitled, by reason of such
breach or any threatened breach, to enforce by an injunction or
decree of specific performance the obligations set forth in this
Agreement, in addition to the Company’s other rights. Any
claims asserted by you against the Company shall not constitute a
defense in any injunction action brought by the Company to obtain
specific enforcement.
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4.1
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You agree that
any dispute or controversy arisi
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