e 20
the date of registration of the cooperative venture company shall be the date of the establishment of the board of directors of the cooperative venture company.

article 21

the board of directors is composed of ____________directors, of which ___________shall be appointed by party a, ____________by party b. the chairman of the board shall be appointed by party a, and its vice-chairman by party b. the term of office for the directors, chairman and vice-chairmans four years, their term of office may be renewed if continuously appointed by the relevant party.

article 22
the highest authority of the cooperative venture company shall be its board of directors. it shall decide all major issues concerning the cooperative venture company. unanimous approval shall be required for any decisions concerning major issues. as for other matters, approval by majority or a simple majority shall be required.
(note: it shall be explicitly set out in the contract).

article 23
the chairman of the board is the legal representative of the cooperative venture company. should the chairman be unable to exercise his responsibilities for any reason, he shall authorize the vice-chairman or any other directors to represent the joint venture company temporarily.

article 24
the board of directors shall convene at least one meeting every year. the meeting shall be called and presided over by the chairman of the board. the chairman may convene an interim meeting based on a proposal made by more than one third of the total number of directors. minutes of the meetings shall be placed on file.

article 25

the meeting shall be valid only when more than two thirds of the total number of directors attend. in case of absence, the director shall entrust another person to attend and vote for him with a trust deed.

chapter 10 business management office

article 26

the cooperative venture company shall establish a management office which shall be responsible for its daily management. the management office shall have a general manager, appointed by party _____, ______deputy general managers, _____by party _____; _____by party ______. the general manager and deputy general managers whose terms of office is _____years shall be appointed by the board of directors.

article 27

the responsibility of the general manager is to carry out the decisions of the board and organize and conduct the d

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