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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/30/16 China United Ins Service, Inc. 10-K 12/31/15 107:9.6M Toppan Merrill/FA |
Document/Exhibit Description Pages Size
1: 10-K Annual Report HTML 1.21M
2: EX-10.51 Material Contract HTML 44K
3: EX-10.57 Material Contract HTML 47K
4: EX-10.67 Material Contract HTML 42K
5: EX-21 Subsidiaries List HTML 25K
6: EX-31.1 Certification -- §302 - SOA'02 HTML 31K
7: EX-31.2 Certification -- §302 - SOA'02 HTML 31K
8: EX-32.1 Certification -- §906 - SOA'02 HTML 27K
9: EX-32.2 Certification -- §906 - SOA'02 HTML 27K
16: R1 Document And Entity Information HTML 56K
17: R2 Consolidated Balance Sheets HTML 112K
18: R3 Consolidated Balance Sheets [Parenthetical] HTML 45K
19: R4 Consolidated Statements of Operations and Other HTML 114K
Comprehensive Income / (Loss)
20: R5 Consolidated Statements of Changes in HTML 93K
Stockholders' Equity
21: R6 Consolidated Statements of Cash Flows HTML 122K
22: R7 Organization and Principal Activities HTML 71K
23: R8 Summary of Significant Accounting Policies HTML 204K
24: R9 Cash and Equivalents HTML 31K
25: R10 Marketable Securities HTML 58K
26: R11 Other Current Assets HTML 42K
27: R12 Property, Plant and Equipment, Net HTML 45K
28: R13 Intangible Assets HTML 49K
29: R14 Long-Term Investment HTML 71K
30: R15 Other Assets HTML 42K
31: R16 Acquisition and Goodwill HTML 43K
32: R17 Taxes Payable HTML 38K
33: R18 Other Current Liabilities HTML 55K
34: R19 Short Term Loans HTML 40K
35: R20 Long-Term Liabilities HTML 42K
36: R21 Preferred Stock HTML 39K
37: R22 Statutory Reserves HTML 31K
38: R23 Non-Controlling Interests HTML 125K
39: R24 Income Tax HTML 79K
40: R25 Related Party Transactions HTML 52K
41: R26 Commitments HTML 42K
42: R27 Discontinued Operation HTML 67K
43: R28 Financial Risk Management and Fair Value HTML 37K
44: R29 Geographical Revenue HTML 52K
45: R30 Loan to Shareholders HTML 37K
46: R31 Subsequent Events HTML 53K
47: R32 Summary of Significant Accounting Policies HTML 275K
(Policies)
48: R33 Summary of Significant Accounting Policies HTML 121K
(Tables)
49: R34 Marketable Securities (Tables) HTML 59K
50: R35 Other Current Assets (Tables) HTML 41K
51: R36 Property, Plant and Equipment, Net (Tables) HTML 44K
52: R37 Intangible Assets (Tables) HTML 48K
53: R38 Long-Term Investment (Tables) HTML 76K
54: R39 Other Assets (Tables) HTML 41K
55: R40 Acquisition and Goodwill (Tables) HTML 36K
56: R41 Taxes Payable (Tables) HTML 36K
57: R42 Other Current Liabilities (Tables) HTML 53K
58: R43 Short Term Loans (Tables) HTML 37K
59: R44 Long-Term Liabilities (Tables) HTML 35K
60: R45 Non-Controlling Interests (Tables) HTML 124K
61: R46 Income Tax (Tables) HTML 76K
62: R47 Related Party Transactions (Tables) HTML 44K
63: R48 Commitments (Tables) HTML 38K
64: R49 Discontinued Operation (Tables) HTML 65K
65: R50 Geographical Revenue (Tables) HTML 47K
66: R51 Subsequent Events (Tables) HTML 42K
67: R52 Organization and Principal Activities (Details HTML 236K
Textual)
68: R53 Summary of Significant Accounting Policies HTML 48K
(Details)
69: R54 Summary of Significant Accounting Policies HTML 48K
(Details 1)
70: R55 Summary of Significant Accounting Policies HTML 71K
(Details Textual)
71: R56 Marketable Securities (Details) HTML 40K
72: R57 Other Current Assets (Details) HTML 47K
73: R58 Property, Plant and Equipment, Net (Details) HTML 46K
74: R59 Intangible Assets (Details) HTML 33K
75: R60 Intangible Assets (Details 1) HTML 41K
76: R61 Long-Term Investment (Details) HTML 33K
77: R62 Long-Term Investment (Details 1) HTML 35K
78: R63 Long-Term Investment (Details 2) HTML 37K
79: R64 Long-Term Investment (Details Textual) HTML 28K
80: R65 Other Assets (Details) HTML 37K
81: R66 Acquisition and Goodwill (Details) HTML 38K
82: R67 Acquisition and Goodwill (Details Textual) HTML 77K
83: R68 Taxes Payable (Details) HTML 32K
84: R69 Other Current Liabilities (Details) HTML 68K
85: R70 Short Term Loans (Details) HTML 36K
86: R71 Short Term Loans (Details) [Parenthetical] HTML 35K
87: R72 Short Term Loans (Details Textual) HTML 43K
88: R73 Long-Term Liabilities (Details) HTML 33K
89: R74 Long-Term Liabilities (Details Textual) HTML 43K
90: R75 Preferred Stock (Details Textual) HTML 47K
91: R76 Statutory Reserves (Details Textual) HTML 33K
92: R77 Non-Controlling Interests (Details) HTML 72K
93: R78 Income Tax (Details) HTML 59K
94: R79 Income Tax (Details Textual) HTML 45K
95: R80 Related Party Transactions (Details) HTML 42K
96: R81 Related Party Transactions (Details Textual) HTML 48K
97: R82 Commitments (Details) HTML 42K
98: R83 Commitments (Details Textual) HTML 29K
99: R84 Discontinued Operation (Details) HTML 48K
100: R85 Discontinued Operation (Details Textual) HTML 33K
101: R86 Geographical Revenue (Details) HTML 34K
102: R87 Loan to Shareholders (Details Textual) HTML 63K
103: R88 Subsequent Events (Details) HTML 63K
104: R89 Subsequent Events (Details Textual) HTML 36K
106: XML IDEA XML File -- Filing Summary XML 190K
105: EXCEL IDEA Workbook of Financial Reports XLSX 112K
10: EX-101.INS XBRL Instance -- cuii-20151231 XML 2.77M
12: EX-101.CAL XBRL Calculations -- cuii-20151231_cal XML 187K
13: EX-101.DEF XBRL Definitions -- cuii-20151231_def XML 869K
14: EX-101.LAB XBRL Labels -- cuii-20151231_lab XML 1.10M
15: EX-101.PRE XBRL Presentations -- cuii-20151231_pre XML 1.03M
11: EX-101.SCH XBRL Schema -- cuii-20151231 XSD 237K
107: ZIP XBRL Zipped Folder -- 0001144204-16-091204-xbrl Zip 209K
Exhibit 10.51
Date: March 15th, 2016
| TO: | AIA International Limited Taiwan Branch (“AIATW”) |
17F., No.333, Sec. 2, Dunhua S Rd., Da-an District
Taipei City 106, Taiwan
| FROM: | AHFL Holdings Financial Limited. (”AHFL”) |
7F, No. 311 Section 3 Nan-King East Road
Taipei City, Taiwan
RE: Consent Letter
Dear Mr. Hou
| 1. | This letter is to serve as an official notice of AHFL to AIATW for committing certain sales target and agreement to refund portion of the Execution Fees set forth in the a Strategic Alliance Agreement (the “Alliance Agreement”) entered on June 10, 2013 between both parties. |
| 2. | The purpose of the Strategic Alliance Agreement is to promote life insurance products provided by AIATW within the territory of Taiwan through insurance agency companies or insurance brokerage companies. To the extent permitted by applicable laws and regulations, AHFL shall assist and encourage any insurance agency company or insurance brokerage company duly approved by the competent government authorities of Taiwan (the “Appointed Broker/Agent”), to cooperate with AIATW for the promotion of life insurance products of AIATW. |
| 3. | The annual first year premium (hereinafter "AFYP") set forth in above insurance contract negotiated by Appointed Broker/Agent and agreed by AIATW shall meet the sales target defined in Article 4 in this Letter and 13-month persistency ratio (P) indicators which shall be recognized by the proportion of the calculated results for the amount of the contract. |
| 4. | The AFYP in the insurance contract negotiated by Appointed Broker/Agent and agreed by AIATW according to above Article shall meet the sales target as below which shall be recognized by the proportion of the calculated results for the amount of the contract. |
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| Contract Year | Sales Target | |
| First Year (April 15th, 2013- Sep. 30th, 2014) |
NT 600,000,000 | |
| Second Year (January 1st, 2016- Dec. 31st,2016) |
NT 300,000,000 | |
| Third Year (January 1st, 2017- Dec. 31st,2017) |
NT 400,000,000 | |
| Forth Year (January 1st, 2018- Dec. 31st,2018) |
NT 500,000,000 | |
| Fifth Year (January 1st, 2019- Dec. 31st,2019) |
NT 600,000,000 | |
| Sixth Year (January 1st, 2020- Dec. 31st,2020) |
NT 700,000,000 | |
| Seventh Year (January 1st, 2021- Dec. 31st,2021) |
NT 900,000,000 | |
| Total | NT 4,000,000,000 |
| 5. | The AFYP in the insurance contract agreed in above Article shall be deducted from premiums returned to the policyholder due to the insurance contract is revoked, invalid or terminated; in the event of any fees returned because of termination, suspension and reduce the sum insured, then the target shall be calculated according to the portion of premium received by AIATW actually. |
| 6. | The portion of recognition in Article 4 will be negotiated and agreed separately by both parties in writing. |
| 7. | The 13-Month Persistency Ratio (P) Indicators set out in insurance contract negotiated by Appointed Broker/Agent and agreed by AIATW pursuant to Article 4 of this Letter shall be met more than 80%. |
| 8. | AIATW shall calculate and recognize the AFYP and 13-Month Persistency Ratio (P) Indicators at the end of each contract year and inform AHFL the result within one month. AHFL agrees to return portion of the Execution Fees to AIATW within one month of receipt of the notice sent by AIATW if AHFL fails to meet the targets set forth in Article 4. AIATW retains the right to offset such amount against the amount payable by it to AHFL. If any delay of such refund, AIATW may claim interest for such delay according to related articles in civil law and may terminate the Alliance Agreement and amendments. |
| 9. | The formula for calculating the returned Execution Fees to AIATW agreed as follows: |
| (i) | First Year |
| A. | Annual Target Achievement Rate" is 49% -0%. AHFL shall return NT 50 million to AIATW. |
| B. | "Annual Target Achievement Rate" is 99% -50%. AHFL shall return certain amount to AIATW by the following formula: NT 50 million x (1 - Target Achievement Rate) (round to the nearest whole number; same as below) |
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| C. | The formula for calculating "Annual Target Achievement Rate" is: |
AFYP of first year/Sale Target of first year
| (ii) | From the end of the second contract year, AIATW will calculate and recognize the accumulated AFYP of the insurance contract negotiated by each Appointed Broker/Agent and agreed by AIATW every year from the first contract year to the end of the current year (hereinafter referred to as "Cumulative Year") and calculate "Accumulated Annual Target Achievement Rate" as accumulated AFYP/accumulated Sales Target: |
| (iii) | Second Year |
| A. | "Accumulated Annual Target Achievement Rate" is 49% -0%. AHFL shall return certain amount to AIATW by the following formula: NT 50 million + NT 35 million – the Execution Fees shall be returned to AIATW pursuant to Article 9 (i). |
| B. | "Accumulated Annual Target Achievement Rate" is 99% -50%. AHFL shall return certain amount to AIATW by the following formula: (NT 50 million + NT 35 million) x (1 - cumulative performance target achievement rate) - the Execution Fees shall be returned to AIATW pursuant to Article 9 (i). In the case of the value calculated as described above is less than zero, AIATW shall compensate AHFL the difference. |
| C. | "Accumulated Annual Target Achievement Rate" is over 100%. AIATW shall pay back the returned Execution Fees which may be returned to AIATW pursuant to Article 9 (i). |
| (iv) | Third Year to Seventh year |
| A. | "Accumulated Annual Target Achievement Rate" is 49% -0%. AHFL shall return certain amount to AIATW by the following formula: NT 50 million + NT 35 million + (NT 33 million x cumulative numbers of years -2) – the Execution Fees shall be returned to AIATW pursuant to Article 9 (i) and (iii). |
| B. | "Accumulated Annual Target Achievement Rate" is 99% -50%. AHFL shall return certain amount to AIATW by the following formula: {NT 50 million + NT 35 million + [NT 33 million x cumulative numbers of years -2]} x (1 - cumulative performance target achievement rate) - the Execution Fees shall be returned to AIATW pursuant to Article 9 (i) and (iii). In the case of the value calculated as described above is less than zero, AIATW shall compensate AHFL the difference. |
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| C. | "Accumulated Annual Target Achievement Rate" is over 100%. AIATW shall pay back the returned Execution Fees which may be returned to AIATW pursuant to Article 9 (i) and (iii). |
| 10. | In the event at AHFL fails to meet the 13-Month Persistency Ratio (P) Indicators set forth in Article 7, the returned Execution Fees shall be calculated as NT 35.7 million x ratio (%) of returned Execution Fees. The aforementioned ratio (%) of returned Execution Fees is agreed as the following table: |
| 13-Month Persistency Ratio (P) Indicators |
Ratio of returned Execution Fees (%) | |
| P >= 80% | 0% | |
| 70% <= P < 80% | 10% | |
| 60% <= P < 70% | 20% | |
| P < 60% | 30% |
| 11. | If the Sales Target and 13-Month Persistency Ratio (P) Indicators have not been reached by AHFL simultaneously, the returned Execution Fee based on Article 9 and 10 shall be limited to whichever is higher. |
| 12. | Upon the termination of the Strategic Alliance Agreement due to the Article 8.2 set forth in the Strategic Alliance Agreement, both parties agree to recalculate the Execution Fees according to following formula: |
Executed Fee x [1-(Accumulated First Year Premium (“AFYP”)/Total Sales Target]-the amount of Execution Fees returned by AHFL according to Article 9.
p.s. The sale target of the year of termination shall be calculated by the portion of passed period in the current year.
Upon the amount is grated than zero settled by above formula, AHFL shall return such amount to AIATW within one month of termination of the Strategic Alliance Agreement; in the contrast, AIATW shall make the payment of such amount to AHFL within one month of termination of the Strategic Alliance Agreement. If any delay of such refund or compensation, either party may claim interest for such delay according to related articles in civil law.
| 13. | AHFL shall have the right to ask AHFL to take the obligations according to the section 13 of Strategic Alliance Agreement if AHFL fails to achieve any consent in this Letter. |
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Your cooperation regarding the above will be highly appreciated. If there is any concern over this letter, please feel free to contact us as soon as you can.
Best regards,
| Name: Yi Hsiao, Mao |
| Title: Chairman |
| China United Insurance Service, Inc. |
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| This ‘10-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 3/30/16 | |||
| For Period end: | 12/31/15 | NT 10-K | ||
| 6/10/13 | 8-K | |||
| List all Filings | ||||