Report of Foreign Issuer (6-k)
December 01 2017 - 11:30AM
Edgar (US Regulatory)
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 November 2017
Commission
file number: 001-38170
NEWATER
TECHNOLOGY, INC.
(Registrant's
name)
c/o
Yantai Jinzheng Eco-Technology Co., Ltd.
8
Lande Road, Laishan District, Yantai City
Shandong
Province
People’s
Republic of China 264000
(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): ☐
Explanatory
Note:
On November 24, 2017, in connection with the
execution of the new employment agreements described below with Newater Technology, Inc.’s (the “Company”) executive
officers, Yuebiao Li and Zhuo Zhang, (the “
Executive Officers
”) the Company and the Executive Officers mutually
terminated their respective prior employment agreements that were entered into in June 2017.
Employment
Agreement of Yuebiao Li
On November 24, 2017 the Company,
through its subsidiary Yantai Jinzheng Eco-Technology Co., Ltd (“Yantai”) entered into an employment agreement
with Yuebiao Li providing for Mr. Li to serve as the Company’s Chief Executive Officer.
Under the terms of Mr. Li’s employment agreement, Mr. Li is, among other matters, to take overall responsibility for
the operational management and financial management of the Company in compliance with all applicable laws and devote a
minimum of forty hours per week to the Company’s business and affairs and in return will be entitled to the
following:
Annual
compensation of RMB 660,000 (approximately $102,000); and
Reimbursement
of reasonable business expenses.
Mr.
Li will be eligible to receive an annual bonus based upon annual profit of the company, in the sole discretion of the board of
directors. Mr. Li’s employment agreement is for a term of thirty-six months, unless the parties enter into a new agreement
before the expiration of the term or either party terminates the agreement in writing at least sixty days before the expiration
of its term.
Additionally,
Mr. Li’s employment agreement provides for confidentiality and nondisclosure provisions, whereby Mr. Li is required to keep
trade secrets confidential during the course of his employment and for a period of thirty-six months following the termination
of his employment. His employment contract also contains a non-compete clause for a duration of twenty-four months following his
employment.
Employment
Agreement of Zhuo Zhang
On November 24, 2017 t
he
Company, through its subsidiary Yantai entered into an employment agreement with Zhuo Zhang providing for Ms. Zhang to serve as the Company’s Chief Financial Officer. Under the terms of Ms.
Zhang’s employment agreement, Ms. Zhang is, among other matters, is to oversee all financial and operational
controls and metrics of the company in accordance with industry rules and devote a minimum of forty hours per week to the
Company’s business and affairs and in return will be entitled to the following:
Annual
compensation of RMB 660,000 (approximately $102,000); and
Reimbursement
of reasonable business expenses.
Ms.
Zhang will be eligible to receive an annual bonus based upon annual profit of the company, in the sole discretion of the board
of directors. Ms. Zhang’s employment agreement is for a term of thirty-six months, unless the parties enter into a new agreement
before the expiration of the term or either party terminates the agreement in writing at least sixty days before the expiration
of its term.
Additionally,
Ms. Zhang’s employment agreement provides for confidentiality and nondisclosure provisions, whereby Ms. Zhang is required
to keep trade secrets confidential during the course of her employment and for a period of thirty-six months following the termination
of her employment. Her employment contract also contains a non-compete clause for a duration of twenty-four months following her
employment.
The
foregoing description of the employment agreements are qualified in their entirety by reference to the Yuebiao Li, and Zhuo Zhang’s
Employment Agreements, copies of which are attached hereto as Exhibits 10.1 and 10.2 respectively and incorporated herein by reference.
EXHIBIT
INDEX
SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
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NEWATER
TECHNOLOGY, INC.
|
|
|
|
By:
|
/s/
Yuebiao Li
|
|
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Yuebiao
Li
|
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Chairman
and Chief Executive Officer
|
Dated:
December 1, 2017
4
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