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Engagement Agreement

Engagement Agreement

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 This Engagement Agreement involves

CHINA UNITED INSURANCE SERVICE, INC.

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Title: Engagement Agreement
Date: 3/30/2016
Industry: Insurance (Miscellaneous)     Sector: Financial

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Exhibit 10.67

 

Engagement Agreement

 

This agreement is signed by the two parties: 

Name of party A: LAW Insurance Broker Co.,Ltd. (hereinafter referred to as Party A)

Registered address: 7F, No. 311, Nanjing E. Rd., Songshan Dist., Taipei City, Taiwan

Postcode: 10595

 

Name of party B: Chao, Hui-Hsien

ID No.: H220435536

 

Party A and party B shall reach following agreements:

 

Article I Term and Position of Employment

 

1.

Party A employ Party B as senior management personnel of Party A (position: General Manager ), the term of employment is from December 29 th , 2015 to December 28 th , 2018.

 

2.

Article II Job description →depending on the authorized scope

 

Party B shall assist Party A in operating and managing insurance agency businesses during his term of employment, including but not limited to the following matters:

 

(1)

Annual operating policies: Party B shall explain the annual operating policies to the Board of Directors (“BoD”). If the meeting schedule of BoD is not held on time, then should be on the actual meeting date.

 

(2)

Temporary operating policies: Party B may adjust the operating policies based on the following circumstances and report to the BoD at the coming meeting:

 

A.

Market demand

 

B.

Change, repeal or abandon of laws or regulations

 

C.

Other causes causing the original operating policies difficult to enforce.

 

(3)

Organize and exert company's annual operation plan and scheme

 

(4)

Preside over the operation and management of insurance company, organize and exert decisions of the meeting of board.

 

 

 

 

(5)

Decide to employ or dismiss employees or brokers, except the auditor.

 

(6)

Execute company's financial management and use (the amount of NT ) thirty million or less with proper authority, but the resolution over more than $ 10 million, Party B shall explain at the coming BoD meeting.

 

(7)

As the representatives (including the need to text whom acts (such as signing or posting) and without whom the text behaviors (such as participation in a meeting or event).

 

(8)

Attend BoD and shareholders meetings, report the appointed duties, provide timely suggestions, and answer to questions raised by the BoD.

 

(9)

Other jobs assigned by the BoD.

 

3.

Remuneration and Condition of employment

 

(1)

Salary: Party A shall pay NT$       to party B as remuneration each month payable monthly in arrears on fifth day of each calendar month, which may be advanced to the previous working day if it falls on public holidays or weekends.

 

(2)

Remuneration:

 

A.

13-Month Persistency Ratio

 

a.

Above 80%: 1% of the commissions paid to Party by the insurance companies.

 

b.

Above 85%: 1.5% of the commissions paid to Party by the insurance companies.

 

B.

25-Month Persistency Ratio

 

a.

Above 80%: 0.5% of the commissions paid to Party by the insurance companies.

 

b.

Above 85%: 1% of the commissions paid to Party by the insurance companies.

 

 

 

 

4.

Special Provision

Party A agrees to provide Party B following benefits in the period of engagement:

(1)

Labor insurance;

 

(2)

Health Insurance;

 

(3)

Group insurance (the premium will be in accordance with the negotiation between the Party A and insurance company);

 

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