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CHLN > SEC Filings for CHLN > Form 8-K/A on 13-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 May 7, 2014, the board of directors of China Housing & Land Development, Inc. (the "Company") elected Mr. Mingduo Yang as an independent director to the board of directors of the Company (the "Board") and a member of the Audit Committee and the Nominating and Governance Committee of the Board.

Mr. Mingduo Yang has over 26 years of accounting experience and over 10 years of experience in corporate financing and commercial real estate development and operations. Mr. Yang served as the Vice General Manager of Xi'An Real Estate Development (Group) Co., Ltd., the CFO of Chang An Holding (Group) Co., Ltd., and the Vice General Manager of Shaanxi Maison Mode Co., Ltd. From 2005 to 2008; Mr. Yang was the Controller and CFO of Chang An Information Industry (Group) Co., Ltd. (a Shanghai Stock Exchange listed company) from 1998 to 2005; Mr. Yang worked in Shaanxi Provincial Audit Office from 1988 to 1998.

In connection with the election, the Company and Mr. Yang entered into a service agreement dated as of May 9, 2014 (the "Service Agreement"). The Service Agreement provides, among other terms, that Mr. Yang 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. Yang an annual retainer of RMB 60,000 (approximately USD 9,633 based on the spot rate as of the date of this report) which will be distributed quarterly, and that the Company will reimburse Mr. Yang 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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