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CHLN > SEC Filings for CHLN > Form 8-K/A on 6-May-2014All Recent SEC Filings




Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers; Election of Directors:
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 23, 2014, the board of directors of China Housing & Land Development, Inc. (the "Company") elected Mr. Maosheng Luo as an independent director to the board of directors of the Company (the "Board") and as and the Chairman of the Audit Committee of the Board.

Mr. Maosheng Luo has over 33 years of accounting experience and over 15 years of experience as an CFO of public companies. Mr. Luo served as the CFO and director of Xi'An Kaiyuan Investment Group Co., Ltd. (a Shenzhen Stock Exchange listed company) ("Kaiyuan") from November 2005 to March 2010, and from November 1994 to December 2002. Prior to re-joining Kaiyuan, Mr. Luo served as the CFO of Yinqiao Diary Group Ltd (a Singapore Stock Exchange listed company). Mr. Luo is a senior accountant and currently the Vice President of the Accounting Society of Xi'An.

In connection with the election, the Company and Mr. Luo entered into a service agreement dated as of May 5, 2014 (the "Service Agreement"). The Service Agreement provides, among other terms, that Mr. Luo shall carry out his duty as an independent director for a term of one year unless terminated earlier by the majority vote of the Board, that the Company will pay Mr. Luo an annual retainer of RMB 120,000 (approximately USD 19,214 based on the spot rate as of the date of this report) which will be distributed quarterly, and that the Company will reimburse Mr. Luo for all reasonable expenses actually and properly incurred by him in connection with the performance of his services under the Service Agreement.

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