【正文】 s Insurance Company ofChina.Chapter 18 The Amendment, Alteration and Termination of the Con tractArticle 51The amendment of the contract or other appendices shall e intoforce only after a written agreement has been signed by Party A and PartyB and approved by the original examination and approval authority.Article 52In case of inability to fulfil the contract or to continue operationdue to heavy losses in successive years as a result of force majeure, theduration of the joint venture and the contract shall be terminated beforethe time of expiration after being unanimously agreed upon by the board ofdirectors and approved by the original examination and approval authority.Article 53Should the joint venture pany be unable to continue its operationor achieve its business purpose due to the fact that one of thecontracting parties fails to fulfil the obligations prescribed by thecontract and articles of association, or seriously violates the provisionsof the contract and articles of association, that party shall be deemed tohave unilaterally terminated the contract. The other party shall have theright to terminate the contract in accordance with the provisions of thecontract after approval by the original examination and approvalauthority, and to claim damages. In case Party A and Party B of the jointventure pany agree to continue the operation, the party who fails tofulfil its obligations shall be liable for the economic losses causedthereby to the joint venture pany.Chapter 19 Liability 。s balance sheet, profit and loss statement andproposal regarding the disposal of profits, and submit them to the boardof directors for examination and approval.Chapter 15 Duration of the Joint VentureArticle 48The duration of the joint venture pany is ___________ years. Theestablishment date of the joint venture pany shall be the date on whichthe business license of the joint venture pany is issued.An application for the extension of the duration, proposed by oneparty and unanimously approved by the board of directors, shall besubmitted to the Ministry of Foreign Trade and Economic Cooperation (orthe examination and approval authority entrusted by it) six months priorto the expiry date of the joint venture.Chapter 16 The Disposal of Assets after the Expiration of the DurationArticle 49Upon the expiration of the duration, or termination before the date ofexpiration of the joint venture, liquidation shall be carried outaccording to the relevant laws. The liquidated assets shall be distributedin accordance with the proportion of investment contributed by Party A andParty B.Chapter 17 InsuranceArticle 50Insurance policies of the joint venture pany on various kinds ofrisks shall be underwritten with the People39。s Republic of China on Labor Managementin Joint Ventures Using Chinese and Foreign Investment and itsImplementing Rules.The labor contracts shall, after being signed, be filed with the locallabor management department.Article 41The appointment of highranking administrative personnel remendedby both parties, their salaries, social insurance, welfare and thestandard of travelling expenses etc. shall be decided by the meeting ofthe board of directors.Chapter 14 Taxes, Finance and AuditArticle 42The joint venture pany shall pay taxes in accordance with theprovisions of Chinese laws and other relative regulations.Article 43Staff members and workers of the joint venture pany shall payindividual ine tax according to the Individual Ine Tax Law of thePeople39。s products is __________.Chapter 9 The Board of DirectorsArticle 25The date of registration of the joint venture pany shall be thedate of the establishment of the board of directors of the joint venturepany.Article 26The board of directors is posed of __________directors, of which___________shall be appointed by Party A, _________by Party B. Thechairman of the board shall be appointed by Party A, and its vicechairmanby Party B. The term of office for the directors, chairman andvicechairman is four years, their term of office may be renewed ifcontinuously appointed by the relevant party.Article 27The highest authority of the joint venture pany shall be its boardof directors. It shall decide all major issues (Note: The main contentsshall be listed in the light of Article 36 of the Implementing Regulationsfor the Joint Venture Law) concerning the joint venture pany. Unanimousapproval shall be required for any decisions concerning major issues. Asfor other matters, approval by majority or a simple majority shall berequired.(Note: It shall be explicitly set out in the contract).Article 28The chairman of the board is the legal representative of the jointventure pany. Should the chairman be unable to exercise hisresponsibilities for any reason, he shall authorize the vice chairman orany other directors to represent the joint venture pany temporarily.Article 29The board of directors shall convene at least one meeting every year.The meeting shall be called and presided over by the chairman of theboard. The chairman may convene an interim meeting based on a proposalmade by more than one third of the total number of directors. Minutes ofthe meetings shall be placed on file.Chapter 10 Business Management OfficeArticle 30The joint venture pany shall establish a management office whichshall be responsible for its daily management. The management office shallhave a general manager, appointed by Party _______, _______ deputy generalmanagers, _______by Party ______。6. Party B shall guarantee that the technical personnel and theworkers in the joint venture pany can master all the technologytransferred within the period specified in the technology transferagreement.Article 17In case Party B fails to provide equipment and technology inaccordance with the prov