Termination by either party clause samples

If re-elected, Mr. Wang’s appointment shall continue for a period of 36 months and would be renewed every 36 months as determined by the Board or the shareholders of the Company, subject to one month’s notice of termination by either party. Mr. Wang is subject to the provisions of his service agreement and the retirement provisions in the Articles of Association of the Company (the “Articles”). The Company does not pay him any Director’s fee. The Remuneration Committee of the Company will review the level of Directors’ emoluments and make recommendation to the Board for adjustments if necessary.

The Company and Mr. Yang entered into a new service agreement on 18 April 2017. Under the service agreement between the Company and Mr. Yang, the Company does not pay him any Director’s fee. The Remuneration Committee will review the level of directors’ emolument and make recommendation to the Board for adjustments if necessary. Mr. Yang’s appointment continued for a period of twelve months and would be renewed annually as determined by the Board or the shareholders of the Company, subject to three months’ notice of termination by either party. Mr. Yang is subject to the provisions of his service agreement and the retirement provisions in the Articles of the Association of the Company.

The Company and Mr. Xu have entered into a service agreement on 18 April 2017. Under the service agreement between the Company and Mr. Xu, the Company does not pay him any Director’s fee. The Remuneration Committee will review the level of directors’ emolument and make recommendation to the Board for adjustments if necessary. Mr. Xu’s appointment continued for a period of twelve months and would be renewed annually as determined by the Board or the shareholders of the Company, subject to three months’ notice of termination by either party. Mr. Xu is subject to the provisions of his service agreement and the retirement provisions in the Articles of the Association of the Company and is expected to be subject to re-election at the coming Annual General Meeting.

Commencement Date 16 November 2018 Term Appointment on an on-going basis subject to customary probationary period and termination by either party. Fixed Remuneration $350,000 USD per annum comprising base salary and excluding statutory superannuation or equivalent.

The Company and Mr. Liu have entered into a service agreement on 20 December 2016. Under the service agreement between the Company and Mr. Liu, the Company does not pay him any director’s fee. The Remuneration Committee will review the level of directors’ emolument and make recommendation to the Board for adjustments if necessary. Mr. Liu’s appointment continued for a period of twelve months and would be renewed annually as determined by the Board or the shareholders of the Company, subject to three months’ notice of termination by either party. Mr. Liu is subject to the provisions of his service agreement and the retirement provisions in the Articles of the Association of the Company, and is expected to be subject to re-election at the coming Annual General Meeting of the Company.

e.Termination by either Party. Either Party may terminate this Agreement for any reason upon thirty (30) days prior written notice.