Apollo Solar Energy, Inc. has appointed Wilson W. Liu as CFO of the company.
Under the terms of his employment agreement, Liu will receive an annual base salary of $87,976 during his first year of employment, which amount will increase to $105,572 and $123,167 in the second and third years of his employment, respectively. Liu was also granted stock options to acquire up to 500,000 shares of the company's common stock, the first 200,000 of which will vest in equal monthly installments during his first year of employment, and the remaining 300,000 of which will vest in equal monthly installments during the second and third years of employment. The options have an exercise price equal to the fair market value of the Company's common stock on the date of grant.
From May 2009 to May 2010, Liu, age 42, served as CFO of Jiangsu Sanhuan Industry & Commerce Co Ltd., a China-based environmental equipment manufacturer. From January 2004 through December 2007, Liu served as Assistant Vice President of the Audit and Compliance Department of the New York Stock Exchange, where he conducted business review and process audits of Chinese companies to ensure compliance with NYSE Equities and Options rules, corporate governance requirements, the Sarbanes-Oxley Act of 2002, and the rules and
regulations of the Securities and Exchange Commission. Liu has been a Certified Public Accountant since 2005.