Kbsf enters into employment agreement with sun lei, its chief executive officer

Shishi, china, june 22, 2021 /prnewswire/ -- kbs fashion group limited ("kbs" or the "company") (nasdaq: kbsf ), a leading fully-integrated casual menswear company in china and the operator of luxventure, a social media platform, today announced that the company has entered into an employment agreement with sun lei, our chief executive officer. under the employment agreement, sun lei shall receive a cash compensation of usd1.00 and, based upon our annual revenues as reported in our 2021 annual report, stock compensation as follows: (i)10,000 shares of ordinary stock for revenue of usd10,000,000; (ii) 100,000 shares of ordinary stock for revenue of usd20,000,000; (iii) 250,000 shares of ordinary stock for revenue of usd30,000,000; (iv) 500,0000 shares of ordinary stock for revenue of usd40,000,000; and (v) 1,000,000 shares of ordinary stock for revenue of usd50,000,000.
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