Sample Business Contracts


Employment Agreement - AsiaInfo Holdings Inc. and Xingsheng Zhang

Employment Forms

  • Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
  • Answer simple questions to build a contract with a consultant. Specify the services rendered, when payment is due, as well as IP rights.
  • Employers who compensate their sales employees based on commissions can prepare an agreement to reduce misunderstandings by specifying the base salary and how commissions are calculated.
  • Companies may offer their business executives a contract that is different from the one provided to their regular employees. Executive employment agreements may be more complex because the compensation structure may include a combination of salary and commissions, provide for bonuses based on sales, stock or other financial targets, and include non-compete, confidentiality and severance provisions.
  • Independent sales representatives offer companies the potential to increase the sale of products or services without the burden of increasing headcount. Both parties should understand how commissions are calculated, when commissions will be paid, as well as how the representative will treat confidential information from the company and whether the representative may also sell a competing line of products or services.
  • More Employment Agreements

              Employment Agreements between AsiaInfo Holdings, Inc.
                   and Xingsheng Zhang dated January 27, 2003

THIS AGREEMENT is made on the 27/th/ day of January, 2003
AMONG

(1)  AsiaInfo Holdings Inc., a corporation organized under the laws of the State
     of Delaware (the "Company"); and
(2)  Zhang Xingsheng, with an address at 9H, North Lodge, China World Center,
     JianGuomenwai Street, Beijing, China 100004 (the "Executive").

WHEREAS:

The Company wishes to retain the Executive as an executive employee of the
Company, and the Executive wishes to be employed by the Company in such
capacity, all upon the terms and conditions hereinafter set forth;
IT IS HEREBY AGREED as follows:

1.   DEFINITIONS

     In this Agreement where the context so admits the following words and
     expressions shall have the following meanings:

1.1  The "Board" shall mean the Board of Directors of the Company.

1.2  "Cause" shall means (i) Executive's willful and continued failure
     substantially to perform his duties with the Company (other than as a
     result of Executive's incapacity due to physical illness or injury); (ii)
     Executive's willfully engaging in misconduct that is materially injurious
     to the Company or engaging in fraud, misappropriation or embezzlement;
     (iii) Executive's gross negligence in the performance of his duties that is
     materially injurious to the Company; (iv) Executive's indictment for or
     formal admission to a criminal offense; (v) Executive's failure to adhere
     to the directions of the Board, to adhere to the Company's written policies
     or to devote substantially all of his business time and efforts to the
     Company; (vi) Executive's breach of any of the provisions of Section 6, 7
     or 8 of this Agreement; or (vii) Executive's breach in any material respect
     of any of the other terms and conditions of this Agreement if such breach
     remains uncured for ten day's following written notice from the Company.

2.   EMPLOYMENT

     The Company shall engage and employ the Executive during the term hereof as
     an executive officer of the Company having the title of Chief Executive
     Officer (CEO) on the terms and conditions contained in this Agreement. The
     Executive hereby accepts such employment and agrees diligently and
     faithfully to serve the Company and to devote substantially all of his
     business time and efforts, to the best of his ability, experience and
     talent, to the furtherance and success of the Company's business.

     The duties and responsibilities of the CEO will include, inter alia:

2.1  Drive operations to achieve the Company's goals and deliver superior
     financial performance to the shareholders as measured against peers in the
     industry

2.2  Grow revenues and profitability, currently targeted at an annual rate of
     20%

2.3  Deepen and expand customer relationships

2.4  Mentor, cultivate and develop the Company's management talent







<PAGE>

2.5  Define and implement the strategic and operational plans for the Company

2.6  Maintain close relationship and communication with the investment community

2.7  Develop partnerships for alliance and pursue mergers/acquisitions that
     support the goals of the Company

3.   TERM OF AGREEMENT

     The Executive's employment hereunder shall be effective on the date which
     the Executive reports to work, but no later than April 1st, 2003 (the
     "Executive Date") and continue thereafter, unless sooner terminated in
     accordance with Section 5, until the second anniversary of the Effective
     Date; with such employment to continue for successive one-year periods
     (subject to termination in accordance with Section 5) unless either party
     notifies the other party of non-renewal in writing prior to 60 days before
     the expiration of the initial term or relevant renewal term as applicable.

4.   REMUNERATION

4.1  The Company shall, during the term of this Agreement, pay to Executive a
     base salary (the "Base Salary") of not less than US$150,000 per year. Such
     salary shall be subject to review in accordance with the Company's normal
     practices for executive salary review, as from time to time in effect. Such
     salary shall be paid in periodic installments (but not less frequently than
     monthly) in accordance with the Company's normal mode of executive salary
     payment.

4.2  In addition to the Executive's Base Salary, during the term of this
     Agreement, the Executive shall be entitled to an annual bonus (the
     "Incentive Bonus") of not less than US$100,000, provide that the financial
     targets contained in the annual business plan approved by the board of
     directors have been met. If the Executive has not provided services to the
     Company during the full financial year to which such Incentive Bonus
     relates, the Incentive Bonus will be pro-rated based on the Executive's
     actual period of service in the relevant financial year. Notwithstanding
     the provision above, the Incentive Bonus for the first full year shall not
     be less than US$100,000 under any circumstances.

4.3  The Company shall, during the term of this Agreement, provide the Executive
     with an allowance (the "Allowance") in an amount not exceeding US$80,000
     per year which at the Executive's discretion, may be used for housing,
     transaction, home country visits, child education and other reasonable
     living expenses. The Company will pay the Allowance periodically against
     the Executive's submission of expense reports, which shall be supported by
     official receipts. Any unclaimed portion of the Allowance will be paid at
     the end of the year.

4.4  In addition to the Executive's Base Salary, the Company shall grant stock
     options to the Executive pursuant to the terms and conditions of separate
     Stock Option Award Agreements between the Company and the Executive. Such
     stock options grants shall consist of (i) an award on the Effective Date of
     options to purchase common stock equivalent to 800,000 shares as of such
     date; (ii) an award on the first anniversary of the Effective Date of
     options to purchase common stock equivalent to 400,000 shares, subject to
     the Executive's continued employment as of such date, and (iii) thereafter,
     other awards as part of the Company's annual option grants to employees.
     All such options will be priced at the fair market value of the underlying
     common stock on the date of grant and shall be subject to the Company's
     standard vesting schedules and the other terms and conditions set forth in
     the applicable Stock Option Award Agreement.

4.5  Upon joining the Company, the Executive shall be awarded either restricted
     stock in the form of shares of AsiaInfo, or stock options with immediate
     vesting, with a value equal to US$200,000 at the then prevailing market
     value. If restricted stock is issued, the Executive will set aside
     US$100,000 of his own funds to either participate in an employee stock
     purchase plan or purchase AsiaInfo stock on the open market.

4.6  During the term of this Agreement, Executive and his family shall be
     entitled to participate in the medical and live insurance plans of the
     Company.

<PAGE>

4.7  The Company shall reimburse Executive for all reasonable and documented
     business expenses incurred during the performance of Executive's duties to
     the Company, in accordance with the Company's business expense
     reimbursement policies.

4.8  During the term of this Agreement, Executive shall be entitled to
     20-business days vacation during each calendar year.

5.   TERMINATION OF EMPLOYMENT; SEVERANCE

5.1  Executive's employment hereunder may be terminated by either the Company or
     the Executive at any time for any reason upon not less than 30 days prior
     written notice to the other party, and subject to the other provisions of
     this Section 5.

5.2  In the event of Executive's death or disability (which shall mean that, as
     a result of illness or injury, Executive is unable substantially to perform
     his duties hereunder for a period of at least 30 consecutive business days,
     or a total of at least 30 business days in any period of 365 consecutive
     days), Executive's employment hereunder shall automatically terminate on
     the date of death or disability, as the case may be, in which event neither
     the Executive nor his estate shall have any further rights hereunder except
     to receive:

     (a)  the unpaid portion of the Base Salary accrued to the date of death or
          disability;

     (b)  the pro-rata portion of the Incentive Bonus that would otherwise be
          payable to the Executive in the event his employment hereunder were
          terminated by the Company without Cause;

     (c)  reimbursement for any reasonable and documented business expenses
          incurred during the performance of the Executive's duties for which
          the Executive shall not have theretofore been reimbursed; and

     (d)  any death or disability benefits maintained by the Company in respect
          of the Executive.

     Payment pursuant to Section 5.2(a) and (b) shall be made at the same time
     any such payment would have been made if such termination had not occurred.

5.3  If Executive's employment hereunder shall be terminated by the Company
     without Cause, then Executive shall be entitled to:

     (a)  severance compensation equal to 100% of Executive's then-current Base
          Salary for a period equal to the Severance Period (as defined below);

     (b)  medical and disability insurance and other benefits of the Executive
          at the time of termination for a period equal to the Severance Period.

     Such severance compensation payments shall be paid in a lump sum within 60
     days of the date of termination.

5.4  If the Executive's employment hereunder shall be terminated by the Company
     for Cause, or voluntarily terminated by the Executive, the Company shall
     have no further obligations to the Executive except for compensation or
     other benefits due for the period prior to the date on which a notice of
     termination is given.

5.5  As used in this Section 5, "Severance Period" shall mean the applicable
     period set forth below beginning on the effective date of termination of
     employment:

     (a)  if Executive's employment hereunder is terminated within six years
          after the Effective Date, a period of six months; and

     (b)  if Executive's employment hereunder is terminated more than (six)
          years after the Effective Date, a period of nine months plus 30 days
          for each year of Executive's employment with the Company beyond the
          first seven years of such employment, but in no event shall the
          Severance Period be longer than 18 months.

<PAGE>

6.   CONFIDENTIAL INFORMATION

6.1  Executive agrees that he will not, during the period of his employment
     hereunder and for a period of one year thereafter (regardless of the reason
     for termination), use or divulge to any person, corporation, partnership or
     other entity any confidential or proprietary information concerning the
     Company or any of its respective affiliates for the benefit of anyone other
     than the Company or disclose any such information to others except in the
     course of the business of the Company or as required by law.

6.2  The obligations contained in Section 6.1 shall cease to apply to any
     information or knowledge, which may subsequently come into the public
     domain after the termination of employment other than by way of
     unauthorized disclosure.

7.   NON-SOLICITATION OF EMPLOYEES

     The Executive shall not for a period of one year from the date of the
     Executive's employment with the Company has been terminated (for any
     reason), without the prior written consent of the Company, direct, induce,
     encourage or otherwise cause any other officer or employee of the to
     terminate employment with the Company.

8.   NON-COMPETITION

     The Executive shall not for a period of one year from the date of
     Executive's employment with the Company has been terminated (for any
     reason), without the prior written consent of the Company, accept or
     procure any ownership interest in, employment with, or provide any
     consulting services to, any other person, corporation, partnership or other
     entity that competes with the Company, either directly or indirectly, in
     the People's Republic of China; provided that nothing contained herein
     shall be construed to prevent Executive from owning less than 1% of the
     outstanding stock of any competing corporation that is traded and listed on
     a recognized international securities exchange, but only if Executive is
     not actively involved in and does not render consulting services to the
     business of such corporation.

9.   GOVERNING LAW

     This Agreement shall be construed, interpreted and governed in accordance
     with the laws of the State of Delaware, the United State of America.

<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
as of the date first above written.

ASIAINFO HOLDINGS INC.



James Ding                                              Xingsheng Zhang
________________________                                ________________________
Name:  James Ding
Title: CEO & President



ClubJuris.Com