Employment Contract (2007)Full Document 

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EMPLOYMENT CONTRACT

EMPLOYMENT CONTRACT ("Contract"), between Asia Payment Systems (Hong Kong) Limited, a wholly-owned subsidiary of Cardtrend International Inc. (formerly known as Asia Payment Systems Inc.), a Nevada corporation with its common stock currently quoted on the NASD OTC with the symbol CDTR (hereinafter called “CARDTREND”), having business office at Suite 7A, Carfield Commercial Buildind, 75, Wyndham Street, Central, Hong Kong (hereinafter called “The Company”), and Li Xiang (Miss), a Chinese with I/D No. 352103197808042528, residing at Room 1407 S4 Tianlangmingju, Zhongshandadao Road, Guangzhou, China (hereinafter called "Li").

WHEREAS, The Company wishes to engage the services of Li as Head of Finance - China and Hong Kong of The Company, and

WHEREAS, Li is willing to provide her services and to undertake the duties and responsibilities described below and other duties and responsibilities as may be assigned to by the Company from time to time during the term of this Contract which shall commensurate with the rank of a head of a department in a subsidiary or associated company of The Company and to enter into this Contract for such period upon the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the mutual covenants and conditions herein contained, all prior contracts between the parties are waived and of no further effect, and the parties to this Contract agree as follows:

1.     

EMPLOYMENT

 
 

The Company shall contract with Li, and Li shall serve the Head of Finance, China and Hong Kong during the term of employment set forth in Paragraph 2 of this Contract .The Company and other subsidiaries, associated companies and affiliates of CARDTREND are engaged in the Asia and Middle East regions, in providing payments and loyalty rewards products to consumers and payments processing services to banks and corporate clients.

 
2.     

TERM

 
 

The term of this Contract shall be for a period of five (5) years commencing on November 1st , 2007 (hereinafter referred to as “Commencement Date”).

 
3.     

JOB TITLE AND DUTIES

 
3.1     

Title and Duties

 

Li shall initially be designated as Head of Finance, China and Hong Kong, and shall have responsibilities commensurate with her title and position from time to time. Li shall devote her time and attention to, and exert her best efforts in the performance of her duties hereunder, so as to support the businesses of The Company and the subsidiaries, associated companies and affiliates of CARDTREND. With effect from the Commencement Date, Li shall be seconded to Asia Payment Systems (China) Co. Ltd..,

 

EMPLOYMENT Contract
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a subsidiary of CARDTREND in Shanghai, China, as Head of Finance, China and Hong Kong of the said subsidiary, until further notice.

 
 

As Head of Finance – China and Hong Kong, of Asia Payment Systems (China) Co. Ltd (“APS China”), Li shall be responsible for the overall finance activities of the Business of CARDTREND in China. Her duties shall include the supervision of all the employees of APS China and any other subsidiaries and associated companies of the Company in China and Hong Kong who are responsible for all finance related activities.

 
 

The Company will determine and notify Li of her duties and responsibilities from time to time during the term of this Contract.

 
3.2     

Confidential Information

 

Li shall not, directly or indirectly, or at any time, during the term of this Contract hereunder or thereafter and without regard to when or for what reason, if any, use or permit the use of any trade secrets, customers' lists, or other information of, or relating to The Company, APS China and CARDTREND, or any of its subsidiaries or associated companies or affiliates in connection with any of their activities or businesses, except as may be necessary in the performance of her duties hereunder or as may be required by any applicable law or determination of any duly constituted administrative agency.

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