UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K/A
Current
Report
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
September
18, 2006
Date
of
Report (Date of earliest event reported)
KIWA
BIO-TECH PRODUCTS GROUP CORPORATION
(Exact
name of registrant as specified in its charter)
|
Delaware
|
000-33167
|
84-0448400
|
|
|
|
|
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(State
or other
jurisdiction
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(Commission
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(I.R.S.
Employer
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of
incorporation)
|
File
Number)
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Identification
No.)
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415
West Foothill Blvd, Suite 206,
Claremont, California 91711-2766
(Address
of principal executive offices)
(909)
626-2358
(Registrant’s
telephone number, including area code)
N/A
(Former
Name or Former Address, if changed since Last Report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
| o |
Written communications pursuant to Rule 425 under
the
Securities Act (17 CFR 230.425) |
| o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
|
o
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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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|
o
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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
5.02 Departure
of Principal Officers; Appointment of Principal Officers
On
September 18, 2006, our Board of Directors appointed Juhua Wang as Chief
Operating Officer after accepting the resignation of Johnson Lau.
We
filed
a Current Report on Form 8-K on September 21, 2006 announcing the appointment
of
Juhua Wang as Chief Operating Officer.
The
purpose of this Form 8-K/A is to amend the Current Report on Form 8-K filed
on
September 21, 2006 to include a brief description of the material terms of
the
employment agreement between us and Ms. Wang.
On
September 25, 2006, we entered into an employment agreement with Ms. Wang for
a
three-year term, commencing on August 1, 2006. Pursuant to the employment
agreement, we will pay Ms. Wang an annual salary at the rate per annum of
RMB300,000 (approximately $37,500), of which RMB240,000 will be paid in equal
monthly installments of RMB20,000 during the period of employment, prorated
for
any partial employment period, and RMB60,000 will be paid as an annual
performance bonus in three months after each employment year for the successful
completion of all goals and objectives of that year and is entitled to an annual
grant of stock options under our employee stock option plan as determined by
the
Board of Directors. Ms. Wang is entitled to three month’s severance if his
employment is terminated without cause. A copy of Ms. Wang’s employment
agreement is attached as Exhibit 10.1 to this report.
Item
9.01 Financial
Statements and Exhibits.
(d)
Exhibits
| 10.01 |
|
Employment
Agreement, dated as of September 25, 2006, between Kiwa Bio-Tech
Products
Corporation and Juhua Wang
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date:
September 25, 2006
By: /s/
Wei Li
Name: Wei
Li
Title: President,
Chairman of Board of Directors and Chief Executive Officer