ReTo Eco-Solutions, Inc 6-K, filed Aug 22, 2022
ReTo Eco-Solutions, Inc. (RETO)
About this 6-K
ReTo Eco-Solutions, Inc filed this 6-K on August 22, 2022.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2022
Commission File Number: 001-38307
RETO ECO-SOLUTIONS, INC.
(Translation of registrant’s name into English)
c/o Beijing REIT Technology Development Co., Ltd.
Building X-702, 60 Anli Road, Chaoyang District, Beijing
People’s Republic of China 100101
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Departure and Appointment of Officer
On August 15, 2022, Mr. Xingchun Wang tendered his resignation as the Chief Financial Officer of ReTo Eco-Solutions, Inc. (the “Company”) and any other positions with the Company’s subsidiary to the Board of Directors of the Company (the “Board”). Mr. Wang’s resignation was for personal reasons and was not due to any disagreement with the Company. On August 15, 2022, the Board accepted Mr. Wang’s resignation and appointed Ms. Yue Hu to serve as the Company’s Chief Financial Officer, effective on August 15, 2022.
Yue Hu, age 32, has worked in Beijing REIT Technology Development Co., Ltd., a wholly owned subsidiary of the Company, as an assistant to the management since May 2019, and has assisted with preparation and filing of periodic reports of the Company to the Securities and Exchange Commission. From March 2015 to December 2016, Ms. Hu worked in Gu'an REIT Machinery Manufacturing Co., Ltd., a former wholly owned subsidiary of the Company, as a procurement specialist, in charge of purchasing accessories needed for production and processing. Ms. Hu received her Bachelor’s degree in Accounting from Xi'an Siyuan University.
Ms. Hu is the daughter of Mr. Zhizhong Hu, Chief Technology Officer and director of the Company. There are no transactions between the Company and Ms. Hu that will be required to be reported pursuant to Item 404(a) of Regulation S-K.
Pursuant to Ms. Hu’s employment agreement, dated as of August 15, 2022 (“Employment Agreement”), she has agreed to serve as the Chief Financial Officer of the Company and Beijing REIT Technology Development Co., Ltd. for a term from August 15, 2022 to August 14, 2025. Ms. Hu is entitled to an annual compensation of RMB180,000 (approximately $26,500) and social insurance and other employee benefits (including health insurance, vacation and expense reimbursement), each in accordance with laws in the People’s Republic of China and the Company’s policy. The Employment Agreement may be terminated in accordance with the Labor Contract Law of the People’s Republic of China and relevant local regulations in Beijing.
The foregoing description of the Employment Agreement is only a summary of the material terms of the Employment Agreement and does not purport to be complete and is subject to, and is qualified in its entirety by, the full text of the Employment Agreement, which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
EXHIBIT INDEX
Exhibit No. |
Description | |
| 10.1 | Employment Agreement, dated August 15, 2022, by and between the Company and Yue Hu |
1
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, thereunto duly authorized.
Date: August 22, 2022
| RETO ECO-SOLUTIONS, INC. | |||
| By: | /s/ Hengfang Li | ||
| Name: | Hengfang Li | ||
| Title: | Chief Executive Officer | ||
2
Exhibit 10.1
Beijing REIT Technology Development Co., Ltd.
and
ReTo Eco-Solutions, Inc.
Special Statement on Signing the Labor Contract
In order to ensure the legal, effective and smooth performance of the Labor Contract signed by the Company with each employee, and fully protect and exercise the rights and interests of both Parties, the Company hereby declares as follows:
| 1. | Before signing the Labor Contract with the Company, the employee shall terminate/dismiss the labor relationship with the original labor relationship unit. The employee shall provide the certificate of separation issued by the original employer, otherwise the employee shall be solely responsible for the labor dispute and controversy arising from the double labor relationship. |
| 2. | The Company will comply with the provisions of the national laws and regulations as well as the Labor Contract Law of the People’s Republic of China to perform the contract with the employee. In the process of any labor law issues arising in this process, the employee is required to consult with the Company’s Human Resources Administrative Office in a timely manner, and the Human Resources Administrative Office is responsible for consulting and helping employees seek solution through negotiation. |
| 3. | The text of the Labor Contract is confidential personnel information of the Company. The employee shall keep the Labor Contract in good condition, and the employee is obliged to keep confidential the terms of the Labor Contract with regard to his/her own interests such as salary, subsidy, special agreement clause, etc. In case of the disclosure of the aforesaid provisions caused by the employee’s personal behavior and the adverse consequences thereof, the Company will treat it as serious violation of discipline until the labor relationship is terminated. |
| 4. | Before signing the Labor Contract with the Company, the employee shall carefully read all the contents of the provisions of the Labor Contract, Company’s rules and regulations mentioned in the Contract and all contents in annexes of the Contract, Labor Contract could be signed with the Company upon all the contents have been confirmed |
I have carefully read the Company’s Special Statement on Signing the Labor Contract, understand its content and undertake to fulfill all the terms herein.
| Promiser (Signature): |
Date: August 15, 2022
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According to the Labor Law of the People’s Republic of China, the Labor Contract Law of the People’s Republic of China as well as relevant laws and regulations, Party A and Party B shall sign this Contract on an equal, voluntary and consensus basis, and they shall abide by the terms set out in this Contract.
I. Basic Information of Parties to Labor Contract
Article 1 Party A Beijing REIT Technology Development Co., Ltd., and its parent company ReTo Eco-Solutions, Inc. (“ReTo”) (collectively the “Company”).
Legal Representative LI Hengfang
Address Room 702, Block X, Runfeng Deshang, No. 60 Anli Road, Chaoyang District, Beijing
Article 2 Party B Yue Hu
Gender Female
Household Registration Type (non-agriculture, agriculture) non-agriculture
Resident Identity Card Number 610404196208291037
Mobile Phone 18612270320 Home Contact Information
Home Address Room 301, Unit 18, Building 45, East 1st District, Tiantongyuan, Changping District, Beijing
Zip Code 100101
Residence Address in Beijing Room 702, Block X, Runfeng Deshang, No. 60 Anli Road, Chaoyang District, Beijing Zip Code 100101
Location of Household Registration Long Hua Street (Township), Hai Kou District (County), Hai Nan Province (City)
II. Term of Labor Contract
Article 3 This Contract is a fixed-term labor contract.
This Contract will take effect on:August 15, 2022 (date)
This Contract shall terminate on :August 14, 2025(date).
III. Work Content
Article 4 Party B agrees to take the position of Chief Financial Officer (“CFO”) (type of work) according to the needs of Party A.
Article 5 Party B shall serve as Chief Financial Officer (“CFO”) of Party A and will report to the Board of Directors (“Board”) of the Company. In his capacity as CFO, Parry B shall do and perform all services, acts or things necessary or advisable as the CFO of Party B, subject to all times polices established by the Board.
IV. Working Hours and Rest Days
Article 6 Party A shall arrange for Party B to implement the regular working hour system.
Under the regular working hour system, Party A shall arrange Party B’s daily working hours no more than eight hours and average weekly working hours no more than forty hours. According to the needs of work, Party B shall obey Party A’s working time arrangement.
Under the irregular working hour system, Party B’s work and rest time shall be arranged upon negotiation by both Parties, provided that the completion of Party A’s work tasks is ensured.
Article 7 Party A’s vacation system for Party B shall be implemented in accordance with the relevant provisions of Party A’s management system.
V. Labor Remuneration
Article 8 Party A shall pay Party B’s salary for the previous month in the form of currency before the thirteenth day of each month, and the monthly salary shall be RMB __15,000_
RMB 180,000 annually. The annual base salary will be reviewed by the Company’s Board, specifically its compensation committee annually.
In accordance with the national policy, Party A will withhold and pay the individual contribution to the social insurance of Party B and the personal income tax out of the actual payment of wages of Party B on his or her behalf.
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Article 9 If Party A’s production tasks are insufficient to enable Party B to wait for task assignment, Party A shall pay Party B’s monthly living expenses at the amount of RMB ______ or according to the Beijing minimum wage standard.
VI. Social Insurance and Other Benefits
Article 10 Both Party A and Party B shall maintain social insurance in accordance with the regulations of the State and Beijing Municipality. Party A shall handle the relevant social insurance procedures for Party B and assume the corresponding social insurance obligations.
Article 11 The medical treatment of Party B’s disease or non-work-related injuries shall be implemented in accordance with the relevant regulations of the State and Beijing Municipality. Party A shall pay Party B’s sick pay in accordance with the relevant provisions of the Company’s management system.
Article 12 The treatment of Party B suffering from occupational diseases or injuries caused by work shall be implemented in accordance with the relevant regulations of the State and Beijing Municipality.
Article 13 The welfare benefits provided by Party A for Party B shall be implemented in accordance with the relevant provisions of Party A’s management system.
VII. Labor Protection, Working Conditions and Occupational Hazard Protection
Article 14 Party A shall provide Party B with necessary safety protection measures and distribute necessary labor protection articles in accordance with the demands of production posts and in accordance with the state regulations on labor safety and health.
Article 15 Party A shall establish the safe production system in accordance with relevant state laws and regulations; Party B shall strictly abide by Party A’s labor safety system, strictly prohibit illegal operations, prevent accidents during labor process and reduce occupational hazards.
VIII. Labor Discipline
Article 16 Party B shall comply with Party A’s rules and regulations (including but not limited to the Management System, the Management Measures for the Block Equipment Marketing and Sales and related management methods); strictly abide by labor safety and health, production processes, operational procedures and work specifications; protect the properties of Party A, safeguard Party A’s interests and image, observe professional ethics; actively participate in the training organized by Party A, and improve ideological awareness and professional skills.
If Party A modifies the contents of the aforesaid documents or formulates new rules and regulations or specifications, the revised documents or new rules and regulations shall be deemed to have been delivered to Party B upon they have been released, and Party B shall comply with and implement them.
Article 17 If Party B violates Party A’s rules and regulations and labor discipline and thus causes economic losses to Party A, Party A shall have the right to handle according to the rules and regulations until the Contract is terminated. (See the Management System, etc. for penalty clause)
Article 18 Party B shall not reveal or disclose to any person the trade secrets and other confidential materials obtained during the employment with Party A. (For details of this restriction, please refer to the Non-disclosure Agreement)
Article 19 Without the written approval of Party A, Party B is strictly forbidden to work part-time with an enterprise of the same type or engage in a second occupation related to his or her own work.
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IX. Change, Dissolution or Termination of Labor Contract
Article 20 If the objective situation on which the signing of the Contract is based has changed significantly, and thus the Contract cannot be performed, the relevant contents of the Contract may be changed with the consent of both Parties upon negotiation.
Article 21 When dissolving, terminating or renewing the labor contract, Party A and Party B shall act in accordance with the Labor Contract Law of the People’s Republic of China and the relevant regulations of the State and Beijing Municipality.
X. Contents Agreed by the Parties
Article 22 Upon reaching a consensus by Parties through negotiation, the following terms have been entered into:
1. Training fee: Party B shall sign the Training Agreement with Party A for all kinds of training courses funded by Party A. If the service period set out in the Training Agreement exceeds the termination date of the Labor Contract, the termination date of Party B’s Labor Contract will be extended according to the service period set out in the Training Agreement. If Party B terminates the Labor Contract in advance, it shall compensate Party A for the training fee according to the amount as agreed in the Training Agreement.
| Other contents agreed by the Parties | |
XI. Settlement of Labor Disputes and Others
Article 23 If a dispute arises between the Parties due to the performance of this Contract, the parties may apply to the labor dispute mediation committee of Party A for mediation; if the mediation fails, they may apply to the labor dispute arbitration committee for arbitration.
Either party may also apply directly to the labor dispute arbitration committee for arbitration.
Article 24 Party A’s Non-Disclosure Agreement, Employee Manual and Management System are attached to this Contract as Annexes and have legal effect with this Contract.
| Other Annexes to this Contract are as follows | |
Article 25 In case of any matter not covered by this Contract or in case of any inconsistency with the relevant regulations of the State and Beijing Municipality in the future, the implementations shall be made in accordance with relevant regulations.
Article 26 This Contract is made out in duplicate with each of Party A and Party B keeping one copy respectively.
| Party A (Official Seal) [Seal affixed herein] | Party B (Signature or Seal): /s/ Yue Hu |
Legal Representative (Main Person in Charge) or Entrusted Agent
(Signature or Seal) [Seal affixed herein]
Date of Signing: August 15, 2022
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Labor Contract Renewal
The labor contract to renewed is ________ term contract, and the effective date of the renewal contract is ____________ (date). The renewal contract shall be terminated on ____________ (date).
Party A (Official Seal) Party B (Signature or Seal)
Legal Representative (Main Person in Charge) or Entrusted Agent
(Signature or Seal)
Date:
The labor contract to renewed is ________ term contract, and the effective date of the renewal contract is ____________ (date). The renewal contract shall be terminated on ____________ (date).
Party A (Official Seal) Party B (Signature or Seal)
Legal Representative (Main Person in Charge) or Entrusted Agent
(Signature or Seal)
Date:
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Labor Contract Renewal
The labor contract to renewed is ________ term contract, and the effective date of the renewal contract is ____________ (date). The renewal contract shall be terminated on ____________ (date).
Party A (Official Seal) Party B (Signature or Seal)
Legal Representative (Main Person in Charge) or Entrusted Agent
(Signature or Seal)
Date:
The labor contract to renewed is ________ term contract, and the effective date of the renewal contract is ____________ (date). The renewal contract shall be terminated on ____________ (date).
Party A (Official Seal) Party B (Signature or Seal)
Legal Representative (Main Person in Charge) or Entrusted Agent
(Signature or Seal)
Date:
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Amendment to Labor Contract
After reaching a consensus through negotiation between the Parties, the following amendment is made to this Contract:
Party A (Seal) Party B (Signature)
Legal Representative (Main Person in Charge) or Entrusted Agent
(Signature or Seal)
Date:
After reaching a consensus through negotiation between the Parties, the following amendment is made to this Contract:
Party A (Seal) Party B (Signature)
Legal Representative (Main Person in Charge) or Entrusted Agent
(Signature or Seal)
Date:
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