Current Report Filing (8-k)
June 23 2016 - 5:16PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section
15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event
Reported): June 23, 2016 (June 21, 2016)
China
Commercial Credit, Inc.
(Exact name of registrant as specified
in its charter)
Delaware
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001-36055
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45-4077653
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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890 Yongkang Road, Wujang,
Suzhou, Jiangsu Province
People’s Republic of China
(Address of
Principal Executive Offices)
+86
512 6396-0022
(Issuer’s telephone number)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.01 Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Jingen Ling
On June 21, 2016, Mr. Jinggen
Ling notified China Commercial Credit, Inc. (the “Company”) of his resignation from the board of directors of the Company
(the “Board”) and as the Chief Executive Officer and President of the Company, effective immediately.
Appointment of Mingjie Zhao
Effective June 21, 2016,
the Board appointed Mr. Mingjie Zhao as a member of the Board to fill the vacancy created by the resignation of Mr. Ling. In addition
to being appointed as a director of the Board, Mr. Zhao is also appointed by the Board as the Chief Executive Officer and President
of the Company, effective immediately.
The biographical information
of Mr. Zhao is set forth below.
Mr. Zhao, was previously
the general manager of Hua Yang, Inc., a company in the real estate development business, since September 2011. From April 2004
to May 2009, he served as Senior Sales Manager of Hephaistos Building Supplies, Inc., a manufacturer and wholesaler of construction
material based in New York. Mr. Zhao held a MBA degree from University of Bridgeport and Bachelor of Science degree from China
Eastern Normal University.
Mr. Zhao does not have
a family relationship with any director or executive officer of the Company and has not been involved in any transaction with the
Company during the past two years that would require disclosure under Item 404(a) of Regulation S-K.
Mr. Zhao has entered
into an employment agreements (the “Employment Agreement”) with the Company, pursuant to which he shall receive an
annual base salary of $50,000. Under his employment agreement, Mr. Zhao is employed as our CEO for a term of five years, which
automatically renews for additional one year terms unless previously terminated on three months written notice by either party.
We may terminate the employment for cause, at any time, without notice or remuneration, for certain acts of the executive officer,
such as conviction or plea of guilty to a felony or grossly negligent or dishonest acts to our detriment, or misconduct or a failure
to perform agreed duties. In such case, the executive officer will not be entitled to receive payment of any severance benefits
or other amounts by reason of the termination, and the executive officer’s right to all other benefits will terminate, except
as required by any applicable law. We may also terminate an executive officer’s employment without cause upon one-month
advance written notice. In such case of termination by us, we are required to provide compensation to the executive officer, including
severance pay equal to 12 months of base salary. The executive officer may terminate the employment at any time with a one-month
advance written notice if there is any significant change in the executive officer’s duties and responsibilities or a material
reduction in the executive officer’s annual salary. In such case, the executive officer will be entitled to receive compensation
equivalent to 12 months of the executive officer's base salary.
The Employment Agreement
is qualified in its entirety by reference to the complete text of the Employment Agreement, which is filed hereto as Exhibits 10.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No
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Description
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10.1
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Employment Agreement, dated as of June 21, 2016, by and among the Company and Mingjie Zhao.
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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.
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CHINA COMMERCIAL CREDIT, INC.
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Date: June 23, 2016
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By:
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/s/ Long Yi
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Name:
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Long Yi
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Title:
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Chief Financial Officer
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