Exhibit 10.29
CHINA INFORMATION SECURITY TECHNOLOGY, INC.
OFFICER EMPLOYMENT AGREEMENT
THIS AGREEMENT
(The “ Agreement ”) is made as of the January
25, 2007, 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 Mr. Jiang Huai Lin (hereinafter
referred to as the “ CEO) ”.
BACKGROUND
The
Board of Directors of the Company desires to appoint Mr. Jiang Huai
Lin as its Chief Executive Officer (“CEO”) to fill an
existing vacancy and to have Mr. Lin perform the duties of the CEO
and Mr. Lin 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 CEO hereby agree as
follows:
1. DUTIES . The Company requires that Mr. Lin be
available to perform the duties of Chief Executive 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”). Mr. Lin agrees to devote
as much time as is necessary to perform completely the duties as
the CEO of the Company.
2. TERM . The term of this Agreement shall commence
as of the date of the CEO’s appointment by the Board of
Directors of the Company and shall continue until the CEO’s
removal or resignation.
3. COMPENSATION .
For all services to be rendered by the CEO in any capacity
hereunder, the Company agrees to pay the CEO a fee of RMB40,000 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 CEO
for pre-approved reasonable business related expenses incurred in
good faith in the performance of the CEO’s duties for the
Company. Such payments shall be made by the Company upon submission
by the CEO 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 CEO each
acknowledge that, in order for the intents and purposes of this
Agreement to be accomplished, the CEO 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 CEO 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 CEO’s removal or
resignati
