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| 1. | Capitalized      Terms.  All capitalized terms used herein have the      meaning as set forth in thisAgreement. |
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| 2. | Employment      Period.  The Corporation hereby agrees to employ the      Executive in its Shanghai Office as the Chief Financial Officer      (“CFO”).  The Executive, in such capacities, agrees to provide      services to the Corporation for the period begin­ning on Feb 1, 2008      (“the Commencement      Date”).  The Employment Period under this Agreement shall      be 3 year commencing from the Commencement Date.  The Employment      Period may be renewed by the mutual agreement of the Executive and the      Corporation one (1) month before this Agreement expires, subject to the      Corporation’s business needs and the Executive’s performance and      competencies (as determined by theCorporation). |
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| 3. | Performance of Duties      and Work Location.  The Executive agrees that during the      employment period, while he is employed by the Corporation, he shall      devote his full time, energies and talents exclusively to serving in the      capacities of CFO in the best interests of the Corporation, and to perform      the duties assigned to him faithfully, efficiently and in a professional      manner (see Appendix I for detail).  The Executive will be based      in Shanghai.  The Executive agrees not  to: |
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|  | (a) | serve      as or be a consultant to or employee, officer, agent or director of any      corporation, partnership or other entity other than the Corporation (other      than civic, charitable, or other public service organizations);      or |
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|  | (b) | have      more than a five percent (5%) ownership interest in any enterprise if such      ownership interest would have a material adverse effect upon the ability      of the Executive to perform his duties hereunder; provided, however, the      Executive shall (i) disclose to the Board of Directors of the Corporation      (the “Board”) any 5% ownership interest in any enterprise, (ii) disclose      any financial relationship or ownership (regardless of such percentage),      with any supplier, customer or partner of the Corporation or any of its      affiliates, and (iii) not cause a conflict of interest between the      Corporation or any of its affiliates on the one hand and any supplier,      customer or partner of the Corporation or any of its affiliates on the      other hand. |
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| 4. | Compensation.  Subject      to the terms and conditions of this Agreement, during the employment      period, while he is employed by the Corporation, the Executive shall be      compensated by the Corporation for his services as  follows: |
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|  | (a) | Beginning      on the Commencement Date, the Executive’s base salary (“Base Salary”)      shall be RMB 50,000 per month, payable at the end of each month, and      subject to normal tax and other statutory withholdings in      China.  During the employment period, the Executive’s Base      Salary rate shall be reviewed on or before each anniversary of the      Commencement Date to determine whether an increase in the Executive’s rate      of compensation is appropriate; |
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|  | (b) | An      additional month’s salary payable at every Chinese New Year (for 2008,      such 13th      month salary shall be multiplied by a percentage equal to the number of      months employed before Chinese New Year divided by 12 months), subject to      normal tax and other statutory withholdings in  China; |
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|  | (c) | The      Executive shall be entitled to participate in the Corporation’s 2007 Stock      Option Plan, the ultimate holding company of the Corporation pursuant to      the terms and conditions set forth therein and the discretion of the Board      of Directors.  The Executive shall be granted a total of 500,000      stock options of PFEN’s common stock.  The strike price for such      stock options shall be priced at US$1.02.  Such share options      shall vest as follows: One third (1/3) at each year ending in 3 years      after the Commencement Date.  Such options shall also be subject      to such other requirements set forth in a Stock Option Agreement to be      entered into by and between the Corporation and the    Executive; |
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|  | (d) | In      addition to public holidays in China, the Executive shall be entitled to      receive 20 days of paid vacation per year beginning after the completion      of the Probation Period; |
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|  | (e) | The      Corporation shall be responsible for the Executive’s social insurance      benefits including health and medical insurance and pension and mandatory      housing fund in accordance with Chinese employment laws. The Executive      shall enter into a supplementary agreement with China Star Corp that shall      provide such benefits and other services for the  Executive. |
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|   | (f)    | The      Executive shall be reimbursed by the Corporation for all reasonable      business, promotional, cell phone service, travel and entertainment      expenses incurred or paid by the Executive during the Employment Period in      the performance of his services under this Agreement: (i) provided that      such expenses constitute business deductions from taxable income for the      Corporation and are excludable from taxable income to the Executive under      the governing laws and regulations; and (ii) to the extent that such      expenses do not exceed the amounts allocable for such expenses in budgets      that are approved from time to time by the Corporation and are not in      violation of the Corporation’s travel and living expense reimbursement      policies.  In order that the Corporation reimburse the Executive      for such allowable expenses, the Executive shall furnish to the      Corporation, in a timely fashion, the appropriate documentation in      connection with such expenses and shall furnish such other documentation      and accounting as the Corporation may from time to time reasonably      request; |
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|   | (g)    | Any      overtime working activities are already compensated within the      compensation package provided to the Executive under this      Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

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| 5. | Restrictive      Covenants.  The Executive acknowledges and agrees that:      (i) the Executive has a major responsibility for the operation,      development and growth of the Corporation’s business; (ii) the Executive’s      work for the Corporation has brought him and will continue to bring him      into close contact with confidential information of the Corporation, its      affiliates and its customers; and (iii) the agreements and covenants      contained in this paragraph 5 are essential to protect the business      interests of the Corporation and its affiliates and that the Corporation      will not enter into this Agreement but for such agreements and      covenants.  Accordingly, the Executive covenants and agrees to      the following: |
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|  | (a) | Confidential      Information.  Except as may be required by the lawful      order of a court or agency of competent jurisdiction, the Executive agrees      to keep secret and confidential, both during the Employment Period and for      two (2) years after the Executive’s employment with the Corporation      terminates, all non-public information concerning the Corporation and its      affili­ates that was acquired by, or disclosed to, the Executive      during the course of his employment by the Corporation or any of its      subsidiaries or affiliates, including information relating to customers      (including, without limitation, credit history, repayment history,      financial inform­a­tion and financial statements), costs, and      operations, financial data and plans, whether past, current or planned and      not to dis­close the same, either directly or indirectly, to any other      person, firm or business entity, or to use it in any way; provided, how­ever,      that the provisions of this paragraph 5(a) shall not apply to information      that: (a) was, is now, or becomes generally available to the public (but      not as a result of a breach of any duty of confidentiality by which the      Executive is bound); (b) was disclosed to the Executive by a third party      not subject to any duty of confidentiality to the Corporation prior to its      disclosure to the Executive; or (c) is disclosed by the Executive in the      ordinary course of the Corporation’s business as a proper part of his      employment in connection with communications with customers, vendors and      other proper parties, provided that it is for a proper purpose solely for      the benefit of the Corporation.  The Executive further agrees      that he shall not make any statement or disclosure that (i) would be      prohibited by applicable State or local laws and regulations, or (ii) is      intended or reasonably likely to be detrimental to the Corporation or any      of its affiliates. |
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|  | (b) | Non-Competition.  The      Executive agrees that for the period commencing on the Commencement Date      and ending twenty four (24) months after this Agreement expires, the      Executive is terminated for any reason or voluntarily resigns (the “Non-Competition      Period”), the Executive, unless the Corporation and all of its      affiliates cease business in China, shall not directly or indirectly,      alone or as a partner, officer, director, employee, consultant, agent,      independent contractor, member or stockholder of any person or entity      (“Person”), engage in any business activity in which is directly or      indirectly in competition with the Business of the Corporation or its      affiliates, or which is directly or indirectly detrimental to the Business      or business plans of the Corporation or its affiliates.  The      “Business” of      the Corporation shall mean the actual or intended business of the      Corporation during the Employment Period and as of the date the Executive      leaves the employment of the Corporation.  As of the date      hereof, the Business of the Corporation is to provide coal gasification      technology, coal gasification plant development, operations and      maintenance based on coal gasification technology.  The      Executive further agrees that during the Non-Competition Period, he shall      not in any capacity, either separately or in association with others: (i)      employ or solicit for employment or endeavor in any way to entice away      from employment with the Corporation or its affiliates any employee of the      Corporation or its affiliates; (ii) solicit, induce or influence any      supplier, customer, agent, consultant or other person or entity that has a      business relationship with the Corporation or its affiliates to      discontinue, reduce or modify such relationship with the Corporation or      its affiliates; nor (iii) solicit any of the Corporation’s or its      affiliate’s identified potential acquisition  candidates. |
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|  | (c) | Remedies.  If      the Executive breaches, or threatens to commit a breach of any of the      provisions contained in paragraphs 5(a) or 5(b) (the “Restrictive      Covenants”), the Corporation shall have the following rights and      remedies, each of which shall be enforceable, and each of which is in      addition to, and not in lieu of, any other rights and remedies available      to the Corporation at law or inequity: |
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|  | (i) | The      Executive shall account for and pay over to the Corporation all      compensation, profits, and other benefits which inure to the Executive’s      benefit which are derived or received by the Executive or any person or      business entity controlled by the Executive, or his relatives, resulting      from any action or transactions constituting a breach of any of the      Restrictive Covenants. |
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|  | (ii) | Notwithstanding      the provisions of paragraph 5(c)(i) above, the Executive acknowledges and      agrees that in the event of a violation or threatened violation of any of      the Restrictive Covenants, the Corporation shall be entitled to enforce      each such provision by any available mandatory relief obtained in any      court of competent jurisdiction without prejudice to any other rights and      remedies that may be available at law or in equity, and the Corporation      shall also be entitled to recover its attorneys’ fees and costs incurred      to enforce any of the Restrictive Covenants from the Executive if the      Corporation prevails in such enforcementaction. |
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|  | (d) | Severability.  If      any of the Restrictive Covenants, or any part thereof, are held to be      invalid or unenforceable, the same shall not affect the remainder of the      covenant or covenants, which shall be given full effect, without regard to      the invalid or unenforceable portions.  Without limiting the      generality of the foregoing, if any of the Restrictive Covenants, or any      part thereof, are held to be unenforceable because of the duration of such      provision or the area covered thereby, the parties hereto agree that the      court making such determination shall have the power to reduce the      duration and/or area of such provision and, in its reduced form, such      provision shall then beenforceable. |
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|  | (e) | Proprietary      Rights.  The Executive acknowledges and agrees that all      know-how, documents, reports, plans, proposals, marketing and sales plans,      client lists, client files, and any materials made by the Executive or by      the Corporation or its affiliates are the property of the Corporation and      shall not be used by the Executive in any way adverse to the Corporation’s      interests.  The Executive shall not deliver, reproduce or in any      way allow such documents or things to be delivered or used by any third      party without specific direction or consent of the Board.  The      Executive hereby assigns to the Corporation any rights which he may have      in any such trade secret or proprietary  information. |
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| 6. | Termination and      Compensation Due Upon Termination.  The Executive’s right      to compensation for periods after the date the Executive’s employment with      the Corporation terminates shall be determined in accordance with the      following: |
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|  | (a) | Voluntary      Resignation.  The Executive may terminate his employment      with the Corporation for any reason (or no reason at all) at any time by      giving the Corporation thirty (30)1 days prior written notice of      voluntary resignation; provided, however, the Corporation may decide that      the Executive’s voluntary resignation be effective immediately upon notice      of such resignation.  The Corporation shall have no      oblig­a­tion to make payments to the Executive in accordance with      the provisions of paragraph 4 for periods after the date on which the      Executive’s employment with the Cor­poration terminates due to the      Executive’s voluntaryresig­na­tion. |
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|  | (b) | Termination with Prior      Notice.  The Corporation may terminate the Executive with      30 days’ prior notice (or payment in lieu of notice) based on one of the      following grounds: |
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|   | (i) | the      Executive is suffering non-work related illness and is unable to perform      his duties after the medical treatmentperiod; |
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|   | (ii) | the      Executive is not able or not competent, as determined by the Corporation,      to perform his duties even after training (including on-the-job      training); |
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|   | (iii) | there      is a major change of circumstances which were relied on as the basis to      enter into this Agreement, including merger, division or acquisition of      the Corporation; or |
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|   | (iv) | the      Corporation is undergoing a statutory reorganization or sustaining major      financial difficulties. |
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|  | (c) | Termination for      Cause.  The Executive may only be terminated for cause,      without prior notice, by the agreement of the President &      CEO.  The Corporation shall have no oblig­ation to make      payments to the Executive in accordance with the provisions of paragraph 4      or otherwise for periods after the Executive’s employment with the      Corporation is terminated on account of the Executive’s discharge for      cause.  For pur­poses of this Agreement, the Executive shall      be considered terminated for “cause” if he is      discharged by the Corporation on account of the occurrence of one or more      of the following events: |
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|   | (i) | the      Executive becomes habitually addicted to drugs or  alcohol; |
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|   | (ii) | the      Executive discloses confidential information in violation of paragraph      5(a) and such disclosure has a material adverse effect on the Corporation,      or engages in competition in violation of paragraph  5(b); |
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|   | (iii) | the      Corporation is directed by regulatory or govern­mental authorities to      terminate the employment of the Executive or the Executive engages in      acti­vities that cause actions to be taken by regula­tory or      governmental authorities that have a material adverse effect on the      Corporation; |
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|   | (iv) | the      Executive is indicted of a felony crime (other than a felony resulting      from a minor trafficviola­tion); |
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|   | (v) | the      Executive commits an act of fraud against the Corporation, violates a duty      of loyalty to the Corporation, or acts against the interest of the      Corporation, or |
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|   | (vi) | any      other causes as prescribed under the governing laws and      regulations. |
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|  | (d) | Disability.  Disability      of the Executive shall be dealt with in accordance with the Corporation’s      long term disability plan (if any) and the applicable  law. |
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|  | (e) | Death.  The      Corporation shall have no obligation to make pay­ments to the      Executive in accordance with the pro­visions of paragraph 4 for      periods after the date of the Execu­tive’s death, except payments due      and owing as of such date. |
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|  | (f) | Stock      Options.  In the event of termination of this Agreement      (regardless of reason), and notwithstanding anything contained herein, the      Executive must exercise all vested stock options issued to the Executive      pursuant to this Agreement within six (6) months after the effective      termination date of theAgreement. |
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|  | (g) | Probation      Period.  The Executive shall be subject to a three (3)      month probation/trial period (the “Probation Period”), beginning on the      Commencement Date, during which time the Executive may be terminated      immediately by the Corporation, the Corporation shall have no      oblig­a­tion to make payments to the Executive in accordance with      the provisions of paragraph 4 for periods after the date on which the      Executive’s employment with the Cor­poration terminates due to such      termination. |
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| 7. | Successors and      Assignment.  This Agreement shall be binding on, and      inure to the benefit of the Corporation and its successors and assigns and      any person acquiring, whether by merger, consolidation, pur­chase of      all or substantially all of the Corporation’s assets and business, or      otherwise without further action by the Executive; provided however, that      Executive hereby agrees to execute an acknowledgement of assignment if      requested to do so by the successor, assign or acquiring      person.  The Corporation may assign this agreement to any of its      direct and indirect subsidiaries or its  affiliates. |
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| 8. | Waiver of      Breach.  The waiver by either the Corporation or the      Executive of a breach of any provision of this Agreement shall not operate      as, or be deemed a waiver of, any subsequent breach by either the      Corporation or the Executive. |
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| 9. | Notice.  Any      notice to be given hereunder by a party hereto shall be in writing and      shall be deemed to have been given when received or, when deposited in the      mail, certified or registered mail, postage  prepaid: |
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|  | (a) | to      the Executive addressed as follows: |
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|  | (b) | to      the Corporation addressed asfollows: |
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| 10. | Amendment.  This      Agreement may be amended or canceled by mutual agreement of the parties in      writing without the consent of any other person and no person, other than      the parties hereto (and the Executive’s estate upon his death), shall have      any rights under or interest in this Agreement or the subject matter      hereof.  The parties hereby agree that no oral conversations      shall be deemed to be a modification of this Agreement and neither party      shall assert the same. |
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| 11. | Applicable      Law.  The provisions of this Agreement shall be construed      in accordance with the laws of the People’s Republic of    China. |
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| 12. | Dispute      Resolution.  Any dispute arising      from or in connection with this Agreement which cannot be resolved through      amicable consultations shall be submitted to the relevant local      arbitration commission for resolution. If any party is not satisfied with      the arbitration award, that party may file an action with a Chinese      court.  However, for any disputes arising from or in connection      with the restrictive covenants as set out under Clause 5 of this      Agreement, such disputes shall be dealt with in accordance with Clause 5      (c) (ii). |
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| 13. | Termination.  All of the      provisions of this Agreement shall terminate after the expiration of the      Employment Period. |
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| 14. | Miscellaneous:      This Agreement is made in two (2) copies duly initiated on each page by      the Parties and has been signed by the Executive and signed and sealed by      the Corporation on the date first set forth  above. |
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|   | Zhuang Xiao      Lin, Edward              |
|--------|-------------------------------------------|
|   |                                      |
|   |                                      |
|   |                                      |
|   | /s/ Zhuang Xiao      Lin                  |
|   |                                      |
|   |                                      |
|   |                                      |
|   | Perfect      Energy International Limited |
|   |                                      |
|   |                                      |
|   |                                      |
|   | /s/ Wennan    Li                          |
|   | By:      Wennan Li (CEO)                  |

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