Form 8-K American Lorain CORP For: Jun 22
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) June 21, 2016
AMERICAN LORAIN
CORPORATION
(Exact Name of Registrant as Specified in
Charter)
Nevada | 001-34449 | 87-0430320 |
(State or other jurisdiction of | (Commission file number) | (I.R.S. employer |
incorporation) | identification no.) |
Beihuan Road Junan County
Shandong, China
276600
(Address of Principal Executive Offices) (Zip Code)
(86) 539-7317959
(Registrants telephone number,
including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On June 21, 2016, American Lorain Corporation (the Company) received the resignation of Johnny Zhou, interim Chief Financial Officer of the Company, effective immediately. Mr. Zhou indicated that his resignation is for personal reason and not because of any disagreement with the Company.
On June 21, 2016, the Board of Directors of the Company approved the appointment of Zhanhai Yang, age 52, as Chief Financial Officer (CFO) of the Company, effective June 21, 2016. From March, 2016 to May, 2016, Mr. Yang served as Controller of the Accounting Department of Rizhao City XinSanMing Chemicals Co., Ltd. in Shandong Province, China. From November, 2014 to February, 2016, Mr. Yang served as Controller of the Accounting Department of Rizhao City XinMei Real Estate Development Co., Ltd. in Shandong Province, China. From May, 2004 to October, 2014, Mr. Yang has served as the head of accounts balance division and transportation payment and receipt management division, director of materials inspection station, accountant in charge and deputy senior accountant for internal control positions for Rizhao Iron & Steel Co., Ltd. in Shandong Province, China.
Mr. Yang received his three-year college diploma in accounting from Inner Mongolia University of Science and Technology in 1984. Mr. Yang is a Certified Public Accountant (CPA) in China.
In connection with his appointment as the Chief Financial Officer, the Company entered into an employment agreement with Mr. Yang on June 21, 2016. The employment agreement provides that Mr. Yang will receive compensation in the amount of RMB 15,000 per month (approximately $2,315) as well as a one-time stock award of 50,000 shares of Companys Common Stock under the Company's 2014 Equity Incentive Plan, subject to the future approval by the Compensation Committee and Board of Directors of the Company. The term of the employment agreement is for one year from June 22, 2016 to June 21, 2017.
Mr. Yang was not selected pursuant to any arrangement or understanding between him and any other person. There are no family relationships between Mr. Yang and the directors and executive officers of the Company.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. | Exhibit Title or Description |
10.1 | Employment Agreement |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
American Lorain Corporation | |
By: /s/ Si Chen_________ | |
Name: Si Chen | |
Title: Chief Executive Officer |
Date: June 22, 2016
Employment Agreement
Party A: American Lorain Corporation
Party B: Zhanhai Yang
According to The Employment contract Law of the PRC, The Employment contract of the PRC and other law and regulations, and on mutual equality and unanimous negotiation, both parties enter into this contract for forming labor relationship and for mutual observance.
Article 1.Hire positions
According to the long-term development and corporate operations, Party A agrees to employ Party B as its Chief Financial Officer and Party B agrees to be employed by Party A as its Chief Financial Officer.
Article 2.Term of the contract
This employment contract shall commence on 22th June 2016 and end on 21rd June 2017 for an initial term of one year.
Article 3.Remuneration
(1)Party A should establish salary distribution system according to law, and notify Party B.
(2)In accordance to this employment agreement by both party, Party Bs salary standard is RMB15,000 every month.
(3)Party A shall timely pay salary to Party B in monetary fund at least one time a month.
(4) Other form of remuneration agreed by both parties: a one time 50,000 shares of Companys Common Stock payable to Zhanhai Yang in one lump sum under the Company's 2014 Equity Incentive Plan, subject to the future approval by the Compensation Committee and Board of Directors of the Company.
Article 4.Change of the Employment contract
After unanimous agreement is made between both Party A and B, the contract may be changed in writing, and should be made in duplicate with each party holding one copy.
Article 5.Miscellaneous
(1) If there is something unclear or should any article or clause has conflict with newly-published laws and constitutions and regulations of the PRC, the newly-published laws, constitutions and regulations shall prevail.
(2) The contract comes into effect upon signatures or seals of both parties (altered or unauthorized substituting signed invalid).
(3) This contact has both English and Chinese versions, in case of any discrepancy between the two versions, Chinese version shall prevail.
(4) The currency yuan in this contract refers to Renminbin yuan unless otherwise stated.
(5) The contract is in duplicate with each party holding one copy.
Party A: (Signature) | Party B:(Signature) |
Date: June 21, 2016 | Date: June 21, 2016 |
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