Jerash Holdings (US), Inc 8-K, filed Nov 2, 2026
Jerash Holdings (US), Inc. (JRSH)
About this 8-K
Jerash Holdings (US), Inc filed this 8-K on November 2, 2026, reporting on events of October 30, 2026.
Jerash Holdings (US), Inc. restructured compensation for Choi Lin Hung and Ng Tsze Lun: their consulting agreements end October 31, 2026, and new Treasure Success employment agreements effective November 1, 2026 provide each HK$297,000 monthly base salary. AI summary
Items reported
- Item 1.01: Entered into a material agreement
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On October 30, 2026, with approval by the Compensation Committee of the Board of Directors of Jerash Holdings (US), Inc. (the “Company”), Treasure Success International Limited (“Treasure Success”), a wholly owned subsidiary of the Company, entered into the agreements described below in connection with a restructuring of the compensation arrangements of Choi Lin Hung (“Mr. Choi”) and Ng Tsze Lun (“Mr. Ng”). Mr. Choi serves as the Company’s Chief Executive Officer, President, and Treasurer and also serves in an executive capacity with Treasure Success. Mr. Ng serves as the Company’s Chairman of the Board and Head of Marketing and also serves in an executive capacity with Treasure Success.
Treasure Success and Yukwise Limited (“Yukwise”), an entity wholly owned by Mr. Choi, entered into a Cancellation and Termination Agreement (the “Choi Termination Agreement”), pursuant to which that certain consulting agreement dated January 12, 2018 between Treasure Success and Yukwise was terminated effective as of 11:59 p.m. on October 31, 2026.
Treasure Success and Multi-Glory Corporation Limited (“Multi-Glory”), an entity wholly owned by Mr. Ng, entered into a Cancellation and Termination Agreement (the “Ng Termination Agreement”), pursuant to which that certain consulting agreement dated January 16, 2018 between Treasure Success and Multi-Glory was terminated effective as of 11:59 p.m. on October 31, 2026.
The termination agreements were entered into in connection with the consolidation of the existing consulting and employment arrangements of Mr. Choi and Mr. Ng into direct employment arrangements with Treasure Success.
Treasure Success also entered into a new letter of employment with Mr. Choi (the “Choi Employment Agreement”), effective November 1, 2026, which supersedes and replaces Mr. Choi’s existing employment agreement with Treasure Success and preserves his prior continuous service with Treasure Success. Pursuant to the agreement, Mr. Choi will serve as Chief Executive Officer of Treasure Success and will receive a monthly base salary of HK$297,000 and be entitled to an end-of-year payment equal to one month of his basic salary. The agreement provides for no probationary period and does not specify a fixed employment term. The agreement may be terminated by either party upon one month’s prior notice or payment in lieu of notice. The agreement also contains customary confidentiality, non-solicitation, non-poaching and other restrictive covenants.
Treasure Success also entered into a new letter of employment with Mr. Ng (the “Ng Employment Agreement”), effective November 1, 2026, which supersedes and replaces Mr. Ng’s existing employment agreement with Treasure Success and preserves his prior continuous service with Treasure Success. Pursuant to the agreement, Mr. Ng will serve as Head of Marketing and Business Development of Treasure Success and will receive a monthly base salary of HK$297,000 and be entitled to an end-of-year payment equal to one month of his basic salary. The agreement provides for no probationary period and does not specify a fixed employment term. The agreement may be terminated by either party upon one month’s prior notice or payment in lieu of notice. The agreement also contains customary confidentiality, non-solicitation, non-poaching and other restrictive covenants.
The foregoing descriptions of the Choi Termination Agreement, the Ng Termination Agreement, the Choi Employment Agreement, and the Ng Employment Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of such agreements, copies of which are filed as Exhibits 10.1, 10.2, 10.3, and 10.4, respectively, to this Current Report on Form 8-K and incorporated herein by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number |
Exhibit | |
| 10.1 | Cancellation and Termination Agreement, dated October 30, 2026, between Treasure Success International Limited and Yukwise Limited | |
| 10.2 | Cancellation and Termination Agreement, dated October 30, 2026, between Treasure Success International Limited and Multi-Glory Corporation Limited | |
| 10.3 | Letter of Employment, effective November 1, 2026, between Treasure Success International Limited and Choi Lin Hung | |
| 10.4 | Letter of Employment, effective November 1, 2026, between Treasure Success International Limited and Ng Tsze Lun | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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.
| JERASH HOLDINGS (US), INC. | ||
| November 2, 2026 | By: | /s/ Choi Lin Hung |
| Choi Lin Hung | ||
| Chief Executive Officer, President, and Treasurer | ||
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Exhibit 10.1
THIS CANCELLATION AND TERMINATION AGREEMENT (the “Agreement”) is made and entered into this 30th day of October, 2026,
BY AND BETWEEN:
| 1. | TREASURE SUCCESS INTERNATIONAL LIMITED, a company incorporated under the laws of Hong Kong with company registration number 2398596 and having its registered office at 19/F, Ford Glory Plaza, 37–39 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong (hereinafter referred to as the “Company”); and |
| 2. | YUKWISE LIMITED, a limited liability company incorporated under the laws of Hong Kong and having its registered office at Unit A, 19/F, Ford Glory Plaza, 37–39 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong (hereinafter referred to as the “Consultant”). |
(The Company and the Consultant are hereinafter individually referred to as a “Party” and collectively as the “Parties”.)
WHEREAS:
| A. | The Company and the Consultant entered into a Consulting Agreement dated as of January 12, 2018 (the “Consulting Agreement”), pursuant to which the Consultant was retained to provide general management and high-level advisory services to the Company, through its designated individual, Mr. Choi Lin Hung (Samuel Choi). |
| B. | The Parties have mutually agreed to cancel and terminate the Consulting Agreement with effect from 11:59 p.m. on October 31, 2026 (the “Termination Date”), in connection with the consolidation of Mr. Choi Lin Hung (Samuel Choi)’s executive service arrangements into a direct employment arrangement. |
| C. | The Parties wish to record the formal terms and conditions governing the termination of the Consulting Agreement and to grant full and final mutual releases in respect thereof. |
NOW, THEREFORE, IT IS HEREBY AGREED as follows:
1. TERMINATION OF CONSULTING AGREEMENT
1.1 The Parties hereby mutually agree that the Consulting Agreement shall be unconditionally canceled and terminated with effect from the Termination Date.
1.2 As of the Termination Date, the Consulting Agreement shall be of no further force or effect, and neither Party shall have any further rights, duties, or obligations thereunder, save as expressly set out in this Agreement.
2. FINAL SETTLEMENT AND COMPENSATION
2.1 The Company shall pay to the Consultant all accrued and unpaid consultancy fees and approved reimbursable expenses up to and including the Termination Date, in accordance with the terms of the Consulting Agreement, subject to receipt of the corresponding invoice.
2.2 The Consultant confirms and acknowledges that, upon payment of the amounts referred to in Clause 2.1 above, the Company has fully satisfied all payment obligations, compensation, fees, and expenses due or payable to the Consultant under or in connection with the Consulting Agreement.
3. MUTUAL RELEASE AND DISCHARGE
3.1 In consideration of the mutual covenants contained herein, each Party, on behalf of itself and its affiliates, successors, assigns, directors, officers, and representatives, hereby fully, irrevocably, and unconditionally releases, acquits, and forever discharges the other Party (and its respective directors, officers, shareholders, employees, agents, affiliates, and representatives) from any and all claims, demands, actions, causes of action, liabilities, obligations, losses, damages, costs, and expenses of any nature whatsoever, whether known or unknown, suspected or unsuspected, arising out of, in connection with, or in relation to the Consulting Agreement or the performance or termination thereof.
3.2 Each Party expressly warrants and represents that it has not assigned, transferred, or purported to assign or transfer to any third party any claim or right released under Clause 3.1.
4. CONFIDENTIALITY AND SURVIVAL
4.1 The Consultant acknowledges and agrees that all obligations of confidentiality, non-disclosure, and non-competition set forth in Section 10 of the Consulting Agreement shall survive the termination of the Consulting Agreement and shall remain in full force and effect in accordance with their respective terms.
5. GOVERNING LAW AND JURISDICTION
5.1 This Agreement shall be governed by, and construed in accordance with, the laws of the Hong Kong Special Administrative Region.
5.2 Any dispute, controversy, or claim arising out of or relating to this Agreement, including its formation, validity, breach, or termination, shall be subject to the exclusive jurisdiction of the courts of Hong Kong.
6. GENERAL PROVISIONS
6.1 Entire Agreement: This Agreement constitutes the entire agreement and understanding between the Parties relating to the cancellation and termination of the Consulting Agreement, and supersedes all prior negotiations, discussions, or agreements, whether oral or written, in relation to the subject matter hereof.
6.2 Amendments: No modification, variation, or amendment of this Agreement shall be effective unless made in writing and duly executed by authorized representatives of both Parties.
6.3 Counterparts: This Agreement may be executed in any number of counterparts, including electronically or by pdf signature, each of which when executed shall constitute an original, and all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties hereto have caused this Cancellation and Termination Agreement to be executed by their duly authorized representatives on the date first above written.
SIGNED for and on behalf of
TREASURE SUCCESS INTERNATIONAL LIMITED
| Authorized Signature: | /s/ Yick Chong San |
Name: Yick Chong San
Title: Authorized Person
SIGNED for and on behalf of
YUKWISE LIMITED
| Authorized Signature: | /s/ Choi Lin Hung (Samuel Choi) |
Name: Choi Lin Hung (Samuel Choi)
Title: Director
Exhibit 10.2
THIS CANCELLATION AND TERMINATION AGREEMENT (the “Agreement”) is made and entered into this 30th day of October, 2026,
BY AND BETWEEN:
| 1. | TREASURE SUCCESS INTERNATIONAL LIMITED, a company incorporated under the laws of Hong Kong with company registration number 2398596 and having its registered office at 19/F, Ford Glory Plaza, 37–39 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong (hereinafter referred to as the “Company”); and |
| 2. | MULTI-GLORY CORPORATION LIMITED, a limited liability company incorporated under the laws of Hong Kong and having its registered office at Unit A, 19/F, Ford Glory Plaza, 37–39 Wing Hong Street, Cheung Sha Wan, Kowloon, Hong Kong (hereinafter referred to as the “Consultant”). |
(The Company and the Consultant are hereinafter individually referred to as a “Party” and collectively as the “Parties”.)
WHEREAS:
| A. | The Company and the Consultant entered into a Consulting Agreement dated as of January 16, 2018 (the “Consulting Agreement”), pursuant to which the Consultant was retained to provide sales, marketing, and high-level advisory services to the Company, through its designated individual, Mr. Ng Tsze Lun (Ringo Ng). |
| B. | The Parties have mutually agreed to cancel and terminate the Consulting Agreement with effect from 11:59 p.m. on October 31, 2026 (the “Termination Date”), in connection with the consolidation of Mr. Ng Tsze Lun (Ringo Ng)’s executive service arrangements into a direct employment arrangement. |
| C. | The Parties wish to record the formal terms and conditions governing the termination of the Consulting Agreement and to grant full and final mutual releases in respect thereof. |
NOW, THEREFORE, IT IS HEREBY AGREED as follows:
1. TERMINATION OF CONSULTING AGREEMENT
1.1 The Parties hereby mutually agree that the Consulting Agreement shall be unconditionally canceled and terminated with effect from the Termination Date.
1.2 As of the Termination Date, the Consulting Agreement shall be of no further force or effect, and neither Party shall have any further rights, duties, or obligations thereunder, save as expressly set out in this Agreement.
2. FINAL SETTLEMENT AND COMPENSATION
2.1 The Company shall pay to the Consultant all accrued and unpaid consultancy fees and approved reimbursable expenses up to and including the Termination Date, in accordance with the terms of the Consulting Agreement, subject to receipt of the corresponding invoice.
2.2 The Consultant confirms and acknowledges that, upon payment of the amounts referred to in Clause 2.1 above, the Company has fully satisfied all payment obligations, compensation, fees, and expenses due or payable to the Consultant under or in connection with the Consulting Agreement.
3. MUTUAL RELEASE AND DISCHARGE
3.1 In consideration of the mutual covenants contained herein, each Party, on behalf of itself and its affiliates, successors, assigns, directors, officers, and representatives, hereby fully, irrevocably, and unconditionally releases, acquits, and forever discharges the other Party (and its respective directors, officers, shareholders, employees, agents, affiliates, and representatives) from any and all claims, demands, actions, causes of action, liabilities, obligations, losses, damages, costs, and expenses of any nature whatsoever, whether known or unknown, suspected or unsuspected, arising out of, in connection with, or in relation to the Consulting Agreement or the performance or termination thereof.
3.2 Each Party expressly warrants and represents that it has not assigned, transferred, or purported to assign or transfer to any third party any claim or right released under Clause 3.1.
4. CONFIDENTIALITY AND SURVIVAL
4.1 The Consultant acknowledges and agrees that all obligations of confidentiality, non-disclosure, and non-competition set forth in Section 10 of the Consulting Agreement shall survive the termination of the Consulting Agreement and shall remain in full force and effect in accordance with their respective terms.
5. GOVERNING LAW AND JURISDICTION
5.1 This Agreement shall be governed by, and construed in accordance with, the laws of the Hong Kong Special Administrative Region.
5.2 Any dispute, controversy, or claim arising out of or relating to this Agreement, including its formation, validity, breach, or termination, shall be subject to the exclusive jurisdiction of the courts of Hong Kong.
6. GENERAL PROVISIONS
6.1 Entire Agreement: This Agreement constitutes the entire agreement and understanding between the Parties relating to the cancellation and termination of the Consulting Agreement, and supersedes all prior negotiations, discussions, or agreements, whether oral or written, in relation to the subject matter hereof.
6.2 Amendments: No modification, variation, or amendment of this Agreement shall be effective unless made in writing and duly executed by authorized representatives of both Parties.
6.3 Counterparts: This Agreement may be executed in any number of counterparts, including electronically or by pdf signature, each of which when executed shall constitute an original, and all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties hereto have caused this Cancellation and Termination Agreement to be executed by their duly authorized representatives on the date first above written.
SIGNED for and on behalf of
TREASURE SUCCESS INTERNATIONAL LIMITED
| Authorized Signature: | /s/ Yick Chong San |
Name: Yick Chong San
Title: Authorized Person
SIGNED for and on behalf of
MULTI-GLORY CORPORATION LIMITED
| Authorized Signature: | /s/ Ng Tsze Lun (Ringo Ng) |
Name: Ng Tsze Lun (Ringo Ng)
Title: Director
Exhibit 10.3
This letter of employment is entered into by Treasure Success International Limited (referred to as the “Employer” hereinafter) and
Mr. Choi Lin Hung (referred to as the “Employee” hereinafter) under the terms and conditions of the employment as detailed below and shall supersede and replace the Employee’s existing employment agreement with the Employer with effect from 1 November 2026:-
| 1. | Commencing Date of Employment |
Effective from 1 November 2026 (the Employee’s prior period of continuous employment with the Employer shall not be interrupted or reset by the entry into this letter, and shall continue to be recognized for all applicable statutory and contractual purposes)
| 2. | Position |
CEO
| 3. | Salary |
The Employee shall receive HK$297,000 as monthly salary.
| 4. | Working Hours |
The Employee shall enjoy 2 rest days per week with office working hours as below:
| Monday to Friday | : | 9:00 a.m. to 6:00 p.m. |
| Saturday & Sunday | : | Rest Day |
| 5. | Rest Days |
When the Employee is employed for not less than 4 consecutive weeks, and works for not less than 18 hours in each week, then, the Employee shall be entitled for 2 Rest Days for each week. Thus, if the Employee is resigned or terminated within the first 4 weeks of employment, the Employer is entitled to deduct all Rest Day payment from the salary payable to the Employee. If the Rest Day paid amount is greater than the salary payable amount, the Employee shall refund the difference to the Employer.
| 6. | Statutory Holidays |
When the Employee is employed for not less than 3 months under a Continuous Employment, then, the Employee shall be entitled for the Statutory Holidays. Thus, if the Employee is resigned or terminated within the first 3 months of employment, the Employer is entitled to deduct all Statutory Holidays payment from the salary payable to the Employee. If the Statutory Holidays paid amount is greater than the salary payable amount, the Employee shall refund the difference to the Employer.
| 7. | Probation |
There shall be no probationary period for this employment.
| 8. | General Holidays |
The Employee shall be entitled to general holidays as specified by Government.
| 9. | End of Year Payment |
| (a) | The payment period of the company is from 1st January to 31st December of each year. All employees with one complete year of service who are still in service on 31st December shall be entitled to an end of year double pay equal to one month basic salary. |
| (b) | The Employee who resigns or is summarily dismissed for disciplinary reason before completing a payment period shall not receive any double pay. |
| (c) | The Employee who is dismissed other than summary dismissal, has completed 26 weeks of service in the payment period shall be entitled to double pay on a pro-rata basis. |
| 10. | Termination of Employment |
| (a) | Either party may terminate this employment by giving to the other party advance notice (or a payment in lieu of notice for an equivalent number of days) in accordance with the following practices. |
| (i) | After probation | : | A notice of 1 month |
| (b) | A notice of termination shall become valid and effective only when two copies of written notice of termination are delivered by the terminating party (one copy to the Head of Personnel Department and another to the Managing Director or General Manager). |
| 11. | Employees’ Handbook |
Detailed employment terms, benefits and regulations are laid down in the Employees’ Handbook of which is open for perusal by the Employee and will form part of the employment. The Employee hereby agrees to abide by the regulations laid down in the Employees’ Handbook, and shall be entitled to all benefits stipulated therein.
| 12. | Additional Employment Terms:- |
| (a) | The Employee will not enter into any other additional employment even for a short time during the term of employment with the Employer. |
| (b) | The Employee will not accept any gift of gratuity whether in cash or otherwise from any of the customers or suppliers of the Employer without the prior consent of the Employer. |
| (c) | The Employer considers that its information relating to its customers, its pricing policy and its suppliers and factories is very much its stock-in-trade just as the products it sells. Therefore, it is a term of the employment that the Employee shall not, either during the employment or after the departure of the Employee for any reason reveal to any outside party any information concerning the customers of the Employer or anything relating to the structure, administration, and/or financial affairs of the Employer. |
In addition, when the Employee leaves the employment of the Employer for any reason the Employee must immediately deliver up to the Employer officers all lists, accounts, schedules, correspondence files, notes, memoranda and other documents, papers and all property of every kind belonging to the Employer or its any associated or affiliated company, firm or person or any of the customers or clients of the Employer.
The above requirement includes any such item which the Employee has prepared or which may have come into the Employee’s possession during the course of the employment with the Employer. Please take note that all copies of any such documents etc. are equally the properties of the Employer and must likewise be surrendered. Taking copies away would be as much a breach of this provision as taking the originals.
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| (d) | The Employee shall not for a period of one year after leaving the employment for any reason either directly or indirectly solicit, canvass or accept orders from any person, firm or company who or which was a customer of the Employer at the time of the departure of the Employee from the Employer or within one year beforehand. This applies to the Employee personally and whether the Employee is acting as a servant, agent, employee or director of any other person, firm or company. |
| (e) | The Employee understands that the Employer relies to a large extent on the loyalty of its staff and the Employer cannot allow persons who leave it to try to entice away its other employees. Therefore it is also a term of the employment that the Employee shall not for one year after leaving the Employer for any reason employ either directly or as a partner of a firm or as a manager, officer or director of any company any employee of the Employer or any person who had been employed by the Employer within the period of three months immediately preceding the date the Employee ceases to be employed by the Employer. |
| (f) | If the Employee is at any time during the continuance of this employment guilty of conduct detrimental to the Employer or convicted of any criminal offence or commit a breach of any of the provisions herein contained and in any such cases the Employee is liable to summary dismissal by the Employer and on such dismissal the Employee is entitled only to his salary calculated up to the date of such dismissal. |
| (g) | The Employee undertakes during the continuance of this employment to observe and comply with all proper orders and instructions of the Employer and to be bound by all regulations for the time being in force or applicable to the employment. |
The Employer and the Employee hereby declare that they understand thoroughly the provision laid down as aforesaid, and further agree to abide by such provisions. They shall each retain a copy of this employment for future reference.
| Signature of Employer | Signature of Employee | ||
| /s/ Yick Chong San | /s/ Choi Lin Hung | ||
| Yick Chong San (Financial Controller) | Staff Name: | Choi Lin Hung | |
| HKID No : | - | ||
Date on which this employment is entered into: 30 October 2026
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Exhibit 10.4
This letter of employment is entered into by Treasure Success International Limited (referred to as the “Employer” hereinafter) and Mr. Ng Tsze Lun (referred to as the “Employee” hereinafter) under the terms and conditions of the employment as detailed below and shall supersede and replace the Employee’s existing employment agreement with the Employer with effect from 1 November 2026:-
| 1. | Commencing Date of Employment |
Effective from 1 November 2026 (The Employee’s prior period of continuous employment with the Employer shall not be interrupted or reset by the entry into this letter, and shall continue to be recognized for all applicable statutory and contractual purposes)
| 2. | Position |
Head of Marketing & Business Development
| 3. | Salary |
The Employee shall receive HK$297,000 as monthly salary.
| 4. | Working Hours |
The Employee shall enjoy 2 rest days per week with office working hours as below:
| Monday to Friday | : | 9:00 a.m. to 6:00 p.m. |
| Saturday & Sunday | : | Rest Day |
| 5. | Rest Days |
When the Employee is employed for not less than 4 consecutive weeks, and works for not less than 18 hours in each week, then, the Employee shall be entitled for 2 Rest Days for each week. Thus, if the Employee is resigned or terminated within the first 4 weeks of employment, the Employer is entitled to deduct all Rest Day payment from the salary payable to the Employee. If the Rest Day paid amount is greater than the salary payable amount, the Employee shall refund the difference to the Employer.
| 6. | Statutory Holidays |
When the Employee is employed for not less than 3 months under a Continuous Employment, then, the Employee shall be entitled for the Statutory Holidays. Thus, if the Employee is resigned or terminated within the first 3 months of employment, the Employer is entitled to deduct all Statutory Holidays payment from the salary payable to the Employee. If the Statutory Holidays paid amount is greater than the salary payable amount, the Employee shall refund the difference to the Employer.
| 7. | Probation |
There shall be no probationary period for this employment.
| 8. | General Holidays |
The Employee shall be entitled to general holidays as specified by Government.
| 9. | End of Year Payment |
| (a) | The payment period of the company is from 1st January to 31st December of each year. All employees with one complete year of service who are still in service on 31st December shall be entitled to an end of year double pay equal to one month basic salary. |
| (b) | The Employee who resigns or is summarily dismissed for disciplinary reason before completing a payment period shall not receive any double pay. |
| (c) | The Employee who is dismissed other than summary dismissal, has completed 26 weeks of service in the payment period shall be entitled to double pay on a pro-rata basis. |
| 10. | Termination of Employment |
| (a) | Either party may terminate this employment by giving to the other party advance notice (or a payment in lieu of notice for an equivalent number of days) in accordance with the following practices. |
| (i) | After probation | : | A notice of 1 month |
| (b) | A notice of termination shall become valid and effective only when two copies of written notice of termination are delivered by the terminating party (one copy to the Head of Personnel Department and another to the Managing Director or General Manager). |
| 11. | Employees’ Handbook |
Detailed employment terms, benefits and regulations are laid down in the Employees’ Handbook of which is open for perusal by the Employee and will form part of the employment. The Employee hereby agrees to abide by the regulations laid down in the Employees’ Handbook, and shall be entitled to all benefits stipulated therein.
| 12. | Additional Employment Terms : |
| (a) | The Employee will not enter into any other additional employment even for a short time during the term of employment with the Employer. |
| (b) | The Employee will not accept any gift of gratuity whether in cash or otherwise from any of the customers or suppliers of the Employer without the prior consent of the Employer. |
| (c) | The Employer considers that its information relating to its customers, its pricing policy and its suppliers and factories is very much its stock-in-trade just as the products it sells. Therefore it is a term of the employment that the Employee shall not, either during the employment or after the departure of the Employee for any reason reveal to any outside party any information concerning the customers of the Employer or anything relating to the structure, administration, and/or financial affairs of the Employer. |
In addition when the Employee leaves the employment of the Employer for any reason the Employee must immediately deliver up to the Employer officers all lists, accounts, schedules, correspondence files, notes, memoranda and other documents, papers and all property of every kind belonging to the Employer or its any associated or affiliated company, firm or person or any of the customers or clients of the Employer.
The above requirement includes any such item which the Employee has prepared or which may have come into the Employee’s possession during the course of the employment with the Employer. Please take note that all copies of any such documents etc. are equally the properties of the Employer and must likewise be surrendered. Taking copies away would be as much a breach of this provision as taking the originals.
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| (d) | The Employee shall not for a period of one year after leaving the employment for any reason either directly or indirectly solicit, canvass or accept orders from any person, firm or company who or which was a customer of the Employer at the time of the departure of the Employee from the Employer or within one year beforehand. This applies to the Employee personally and whether the Employee is acting as a servant, agent, employee or director of any other person, firm or company. |
| (e) | The Employee understands that the Employer relies to a large extent on the loyalty of its staff and the Employer cannot allow persons who leave it to try to entice away its other employees. Therefore it is also a term of the employment that the Employee shall not for one year after leaving the Employer for any reason employ either directly or as a partner of a firm or as a manager, officer or director of any company any employee of the Employer or any person who had been employed by the Employer within the period of three months immediately preceding the date the Employee ceases to be employed by the Employer. |
| (f) | If the Employee is at any time during the continuance of this employment guilty of conduct detrimental to the Employer or convicted of any criminal offence or commit a breach of any of the provisions herein contained and in any such cases the Employee is liable to summary dismissal by the Employer and on such dismissal the Employee is entitled only to his salary calculated up to the date of such dismissal. |
| (g) | The Employee undertakes during the continuance of this employment to observe and comply with all proper orders and instructions of the Employer and to be bound by all regulations for the time being in force or applicable to the employment. |
The Employer and the Employee hereby declare that they understand thoroughly the provision laid down as aforesaid, and further agree to abide by such provisions. They shall each retain a copy of this employment for future reference.
| Signature of Employer | Signature of Employee | ||
| /s/ Yick Chong San | /s/ Ng Tsze Lun | ||
| Yick Chong San (Financial Controller) | Staff Name: | Ng Tsze Lun | |
| HKID No: | - | ||
Date on which this employment is entered into: 30 October 2026
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