Exhibit 10.30
CHINA INFORMATION SECURITY TECHNOLOGY, INC.
OFFICER EMPLOYMENT AGREEMENT
THIS AGREEMENT
(The “ Agreement ”) is made as of the November
17, 2008, and is by and between China Information Security
Technology, Inc. (formerly as “China Public Security
Technology, Inc.), a Nevada corporation (hereinafter referred to as
the “ Company ”), and Wendy Wang (hereinafter
referred to as the “ CFO) ”.
BACKGROUND
The
Board of Directors of the Company desires to appoint Wendy Wang as
its Chief Financial Officer (“CFO”) to fill an existing
vacancy and to have Ms. Wang perform the duties of the CFO and Ms.
Wang desires to be so appointed for such position and to perform
the duties required of such position in accordance with the terms
and conditions of this Agreement.
AGREEMENT
In
consideration for the above recited promises and the mutual
promises contained herein, the adequacy and sufficiency of which
are hereby acknowledged, the Company and the CFO hereby agree as
follows:
1. DUTIES . The Company requires that Ms. Wang be
available to perform the duties of Chief Financial Officer
customarily related to this function as may be determined and
assigned by the Board of Directors of the Company and as may be
required by the Company’s constituent instruments, including
its certificate or articles of incorporation, bylaws and its
corporate governance, each as amended or modified from time to
time, and by applicable law, including the Nevada Business
Corporation Act (the “Act”). Ms. Wang agrees to devote
as much time as is necessary to perform completely the duties as
the CFO of the Company.
2. TERM . The term of this Agreement shall commence
as of the date of the CFO’s appointment by the Board of
Directors of the Company and shall continue until the CFO’s
removal or resignation.
3. COMPENSATION .
For all services to be rendered by the CFO in any capacity
hereunder, the Company agrees to pay the CFO a fee of RMB 35,000
per month. Such fee may be adjusted from time to time as agreed by
the parties.
4. EXPENSES . In addition to the compensation
provided in paragraph 3 hereof, the Company will reimburse the CFO
for pre-approved reasonable business related expenses incurred in
good faith in the performance of the CFO’s duties for the
Company. Such payments shall be made by the Company upon submission
by the CFO of a signed statement itemizing the expenses incurred.
Such statement shall be accompanied by sufficient documentary
matter to support the expenditures.
5. CONFIDENTIALITY . The Company and the CFO each
acknowledge that, in order for the intents and purposes of this
Agreement to be accomplished, the CFO shall
necessarily
be obtaining access to certain confidential information concerning
the Company and its affairs, including, but not limited to business
methods, information systems, financial data and strategic plans
which are unique assets of the Company (“ Confidential
Information ”). The CFO covenants not to, either directly
or indirectly, in any manner, utilize or disclose to any person,
firm, corporation, association or other entity any Confidential
Information.
6. NON-COMPETE . During the term of this Agreement
and for a period of twelve (12) months following the CFO’s
removal or resignati
