<SEC-DOCUMENT>0001144204-11-020531.txt : 20110406
<SEC-HEADER>0001144204-11-020531.hdr.sgml : 20110406
<ACCEPTANCE-DATETIME>20110406165332
ACCESSION NUMBER:		0001144204-11-020531
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110331
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20110406
DATE AS OF CHANGE:		20110406

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			China Green Agriculture, Inc.
		CENTRAL INDEX KEY:			0000857949
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		IRS NUMBER:				363526027
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34260
		FILM NUMBER:		11743673

	BUSINESS ADDRESS:	
		STREET 1:		3RD FLOOR, BOROUGH A, BLOCK A. NO.181,
		STREET 2:		SOUTH TAIBAI ROAD,
		CITY:			XIAN, SHAANXI PROVINCE,
		STATE:			F4
		ZIP:			710065
		BUSINESS PHONE:		3034996000

	MAIL ADDRESS:	
		STREET 1:		3RD FLOOR, BOROUGH A, BLOCK A. NO.181,
		STREET 2:		SOUTH TAIBAI ROAD,
		CITY:			XIAN, SHAANXI PROVINCE,
		STATE:			F4
		ZIP:			710065

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DISCOVERY TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20071114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DISCOVERY TECHNOLOGIES INC /KS/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DISCOVERY SYSTEMS INC
		DATE OF NAME CHANGE:	19900613
</SEC-HEADER>
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<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FORM 8-K</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT REPORT</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of Report (Date of earliest event reported):&#160;&#160;March 31, 2011</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">CHINA GREEN AGRICULTURE, INC.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">rd</font> Floor, Borough A, Block A.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">No.181 South Taibai Road</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On March 31, 2011, the Compensation Committee (the &#8220;Committee&#8221;) of the Board of Directors of China Green Agriculture, Inc., a Nevada corporation (the &#8220;Company&#8221;), approved (i) a new cash compensation plan for certain Company employees, including the Company&#8217;s directors and executive officers, effective for the fiscal year ending June 30, 2011 (the &#8220;Cash Plan&#8221;), (ii) the grant of restricted stock to certain executive officers and directors of the Company under the Company&#8217;s 2009 Equity Incentive Plan, and (iii) the cancellation of certain unvested stock options of the Company.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">2011 Cash Plan</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the Cash Plan, the Committee determined that (i) the Company&#8217;s chairman and chief executive officer, Mr. Tao Li, is entitled to a base salary of $300,000, (ii) the Company&#8217;s chief financial officer, Mr. Ken Ren, is entitled to a base salary of $160,000, and (iii) each independent director of the Company, consisting of Yizhao Zhang, Robert B. Fields and Lianfu Liu, is entitled to a base salary of $24,000.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Cash Plan also provides for aggregate cash bonuses (the &#8220;Cash Bonus&#8221;) payable to (i) Mr. Li in the amount of up to 40% of his base salary, or $120,000, and (ii) Mr. Ren in the amount of up to 35% of his base salary, or $56,000.&#160;&#160;According to the Cash Plan, 20% of the Cash Bonus is payable at the end of each quarter of the year ending June 30, 2011 (the &#8220;Quarterly Bonuses&#8221;), and 20% of the Cash Bonus is payable at the end of the fiscal year ending June 30, 2011 (the &#8220;Year-End Bonus&#8221;), if the Company achieves certain revenue and operating income targets set for each period.&#160;&#160;For the payment of the Quarterly Bonuses, both the revenue and operating income targets must be achieved for that quarter.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">With respect to the Year-End Bonus, the Cash Plan sets forth three target levels of revenue and operating income targets for the year ending June 30, 2011: (i) the Base Target, (ii) the Threshold Target, which equals 80% of the revenue and operating income targets of the Base Target, and (iii) the Maximum Target, which equals 110% of the revenue and operating income targets of the Base Target.&#160;&#160;If the Base Target is achieved, the full Year-End Bonus is payable.&#160;&#160;If the Threshold Target is achieved, 70% of the Year-End Bonus is payable, and if the Maximum Target is achieved, 110% of the Year-End Bonus is payable.&#160;&#160;Additionally, with respect to each of these three target levels, if only the revenue component is met for such target, 70% of the amount payable for achieving such target will be paid.&#160;&#160;&#160;Alternatively, if only the operating income component is met for such target, 30% of the amount payable for achieving such target will be paid.</font><br>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">2011 Equity Grants</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under the 2009 Equity Incentive Plan of the Company, the Committee granted (i) 38,000 shares of restricted stock to Mr. Tao Li, the Company&#8217;s chairman and chief executive officer, (ii) 30,000 shares of restricted stock to Mr. Ken Ren, the Company&#8217;s chief financial officer, (iii) 8,000 shares of restricted to Mr. Yizhao Zhang, an independent director of the Company, and (iv) 6,000 shares of restricted stock to each of Mr. Robert B. Fields and Mr. Lianfu Liu, both independent directors of the Company (the &#8220;2011 Stock Grants&#8221;).&#160;&#160;The 2011 Stock Grants all vest in two equal installments on June 2, 2011 and December 31, 2011.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Additionally, in consideration for Mr. Zhang&#8217;s past services to the Company, the Committee granted Mr. Zhang an additional 8,000 shares of restricted stock which vest on April 31, 2011.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The restricted stock was granted pursuant to the Company&#8217;s Form of Restricted Stock Grant Agreement, filed as Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 11, 2010.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Options to purchase 20,129 shares of common stock granted to Mr. Tao Li at an exercise price of $14.70 per share, vesting in two equal installments on September 30, 2011 and 2012 if the Company achieved certain revenue and operating income targets for the year ended June 30, 2010, which targets were achieved;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Options to purchase 3,333 shares of common stock granted to Mr. Yizaho Zhang at an exercise price of $14.70 per share, vesting on December 31, 2011 if the Company achieved certain revenue and operating income targets for the fiscal year ending June 30, 2011;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Options to purchase 3,333 shares of common stock granted to Mr. Lianfu Liu at an exercise price of $14.70 per share, vesting on December 31, 2011 if the Company achieved certain revenue and operating income targets for the fiscal year ending June 30, 2011; and</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Options to purchase 3,333 shares of common stock granted to Mr. Robert B. Fields at an exercise price of $14.02 per share, vesting on December 31, 2011 if the Company achieved certain revenue and operating income targets for the fiscal year ending June 30, 2011.</font></div>
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