Document:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED,
ASSIGNED, PLEDGED, OR HYPOTHECATED ABSENT AN EFFECTIVE REGISTRATION THEREOF
UNDER SUCH ACT OR COMPLIANCE WITH RULE 144 PROMULGATED UNDER SUCH ACT, OR UNLESS
THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE REASONABLY
SATISFACTORY TO THE COMPANY AND ITS COUNSEL AND FROM ATTORNEYS REASONABLY
ACCEPTABLE TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT
REQUIRED.

                            HEALTHRENU MEDICAL, INC.

                                     WARRANT

      This Warrant is issued in connection with that certain Promissory Note
(the "Note") issued by HEALTHRENU MEDICAL, INC., a Nevada corporation (the
"Company") in favor of Paul Cartmell (the "Investor"). Capitalized terms used
herein, but not otherwise defined, shall have the meaning given to them in the
Note.

      THIS CERTIFIES THAT, for value received, the Investor, or its registered
assigns is entitled to purchase from the Company at any time or from time to
time during the period specified in Paragraph 2 hereof ONE MILLION SIX HUNDRED
THOUSAND (1,600,000) fully paid and nonassessable shares of the Company's Common
Stock, $0.001 par value per share (the "Common Stock"), at an exercise price per
share equal to $0.05 (the "Exercise Price").

      The term "Warrant Shares," as used herein, refers to the shares of Common
Stock purchasable hereunder. The Warrant Shares and the Exercise Price are
subject to adjustment as provided in Paragraph 4 hereof. This Warrant is subject
to the following terms, provisions, and conditions:

      1. Manner of Exercise; Issuance of Certificates; Payment for Shares.
Subject to the provisions hereof, this Warrant may be exercised by the holder
hereof, in whole or in part, by the surrender of this Warrant, together with a
completed exercise agreement in the form attached hereto (the "Exercise
Agreement"), to the Company during normal business hours on any business day at
the Company's principal executive offices (or such other office or agency of the
Company as it may designate by notice to the holder hereof), and upon payment to
the Company in cash, by certified or official bank check or by wire transfer for
the account of the Company of the Exercise Price for the Warrant Shares
specified in the Exercise Agreement for the Warrant Shares specified in the
Exercise Agreement. The Warrant Shares so purchased shall be deemed to be issued
to the holder hereof or such holder's designee, as the record owner of such
shares, as of the close of business on the date on which this Warrant shall have
been surrendered, the completed Exercise Agreement shall have been delivered,
and payment shall have been made for such shares as set forth above.
Certificates for the Warrant Shares so purchased, representing the aggregate
number of shares specified in the Exercise Agreement, shall be delivered to the
holder hereof within a reasonable time after this Warrant shall have been so
exercised. The certificates so delivered shall be in such denominations as may
be requested by the holder hereof and shall be registered in the name of such
holder or such other name as shall be designated by such holder. If this Warrant
shall have been exercised only in part, then, unless this Warrant has expired,
the Company shall, at its expense, at the time of delivery of such certificates,
deliver to the holder a new Warrant representing the number of shares with
respect to which this Warrant shall not then have been exercised.

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<PAGE>

      2. Period of Exercise. This Warrant is exercisable at any time or from
time to time on or after the date on which this Warrant is issued and delivered
pursuant to the terms of the Note and before 5:00 p.m., New York, New York time
on the fifth anniversary of the date hereof (the "Exercise Period").

      3. Certain Agreements of the Company. the Company hereby covenants and
agrees as follows:

      (a) Shares to be Fully Paid. All Warrant Shares will, upon issuance in
      accordance with the terms of this Warrant, be validly issued, fully paid,
      and nonassessable and free from all taxes, liens, and charges with respect
      to the issue thereof.

      (b) Reservation of Shares. During the Exercise Period, the Company shall
      at all times have authorized, and reserved for the purpose of issuance
      upon exercise of this Warrant, a sufficient number of shares of Common
      Stock to provide for the exercise of this Warrant.

      (c) Successors and Assigns. This Warrant will be binding upon any entity
      succeeding to the Company by merger, consolidation, or acquisition of all
      or substantially all the Company's assets.

      4. Adjustment and Antidilution Provisions. On or after the date of
issuance of this Warrant, the Warrant Exercise Price and number of shares
issuable pursuant to this Warrant shall be subject to adjustment as follows:

            (a) In case the Company shall (i) declare a dividend or make a
      distribution on its outstanding shares of Common Stock in shares of Common
      Stock, (ii) subdivide or reclassify its outstanding shares of Common Stock
      into a greater number of shares, or (iii) combine or reclassify its
      outstanding shares of Common Stock into a smaller number of shares, the
      Exercise Price in effect at the time of the record date for such dividend
      or distribution or of the effective date of such subdivision, combination
      or reclassification shall be adjusted so that it shall equal the price
      determined by multiplying the Exercise Price by a fraction, the
      denominator of which shall be the number of shares of Common Stock
      outstanding after giving effect to such action, and the numerator of which
      shall be the number of shares of Common Stock immediately prior to such
      action. Such adjustment shall be made each time any event listed above
      shall occur.

            (b) Whenever the Exercise Price payable upon exercise of each
      Warrant is adjusted pursuant to Subsection (a) above, the number of shares
      purchasable upon exercise of this Warrant shall simultaneously be adjusted
      by multiplying the number of shares initially issuable upon exercise of
      this Warrant by the Exercise Price in effect on the date hereof and
      dividing the product so obtained by the Exercise Price, as adjusted.

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<PAGE>

            (c) All calculations under this Section 4 shall be made to the
      nearest cent or to the nearest one-hundredth of a share, as the case may
      be. Anything in this Section 4 to the contrary notwithstanding, the
      Company shall be entitled, but shall not be required, to make such changes
      in the Exercise Price in addition to those required by this Section 4, as
      it shall determine, in its sole discretion, to be advisable in order that
      any dividend or distribution in shares of Common Stock, or any
      subdivision, reclassification or combination of Common Stock, hereafter
      made by the Corporation shall not result in any Federal Income tax
      liability to the holders of the Common Stock or securities convertible
      into Common Stock (including warrant).

            (d) Whenever the Exercise Price is adjusted, as herein provided, the
      Corporation shall promptly cause a notice setting forth the adjusted
      Exercise Price and adjusted number of shares issuable upon exercise of
      each Warrant to be mailed to the Holder, at its last address appearing in
      the Company's Warrant Register. The Company may retain a firm of
      independent certified public accountants selected by the Board of
      Directors (who may be the regular accountants employed by the Company) to
      make any computation required by this Section 4, and a certificate signed
      by such firm shall be conclusive evidence of the correctness of such
      adjustment.

      5. Issue Tax. The issuance of certificates for Warrant Shares upon the
exercise of this Warrant shall be made without charge to the holder of this
Warrant or such shares for any issuance tax or other costs in respect thereof,
provided that the Company shall not be required to pay any tax which may be
payable in respect of any transfer involved in the issuance and delivery of any
certificate in a name other than the holder of this Warrant.

      6. No Rights or Liabilities as a Shareholder. This Warrant shall not
entitle the holder hereof to any voting rights or other rights as a shareholder
of the Company. No provision of this Warrant, in the absence of affirmative
action by the holder hereof to purchase Warrant Shares, and no mere enumeration
herein of the rights or privileges of the holder hereof, shall give rise to any
liability of such holder for the Exercise Price or as a shareholder of the
Company, whether such liability is asserted by the Company or by creditors of
the Company.

      7. Transfer, Exchange, and Replacement of Warrant.

            (a) Restriction on Transfer. This Warrant and the rights granted to
      the holder hereof are transferable, in whole or in part, upon surrender of
      this Warrant, together with a properly executed assignment in the form
      attached hereto, at the office or agency of the Company referred to in
      Paragraph 7(e) below, provided, however, that any transfer or assignment
      shall be subject to the conditions set forth in Paragraph 7(f) hereof.
      Until due presentment for registration of transfer on the books of the
      Company, the Company may treat the registered holder hereof as the owner
      and holder hereof for all purposes, and the Company shall not be affected
      by any notice to the contrary.

            (b) Warrant Exchangeable for Different Denominations. This Warrant
      is exchangeable, upon the surrender hereof by the holder hereof at the
      office or agency of the Company referred to in Paragraph 7(e) below, for
      new Warrant of like tenor representing in the aggregate the right to
      purchase the number of shares of Common Stock which may be purchased
      hereunder, each of such new Warrant to represent the right to purchase
      such number of shares as shall be designated by the holder hereof at the
      time of such surrender.

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<PAGE>

            (c) Replacement of Warrant. Upon receipt of evidence reasonably
      satisfactory to the Company of the loss, theft, destruction, or mutilation
      of this Warrant and, in the case of any such loss, theft, or destruction,
      upon delivery of an indemnity agreement reasonably satisfactory in form
      and amount to the Company, or, in the case of any such mutilation, upon
      surrender and cancellation of this Warrant, the Company, at its expense,
      will execute and deliver, in lieu thereof, a new Warrant of like tenor.

            (d) Cancellation; Payment of Expenses. Upon the surrender of this
      Warrant in connection with any transfer, exchange, or replacement as
      provided in this Paragraph 7, this Warrant shall be promptly canceled by
      the Company. The Company shall pay all taxes (other than securities
      transfer taxes) and all other expenses (other than legal expenses, if any,
      incurred by the holder or transferees) and charges payable in connection
      with the preparation, execution, and delivery of Warrant pursuant to this
      Paragraph 7.

            (e) Register. The Company shall maintain, at its principal executive
      offices (or such other office or agency of the Company as it may designate
      by notice to the holder hereof), a register for this Warrant, in which the
      Company shall record the name and address of the person in whose name this
      Warrant has been issued, as well as the name and address of each
      transferee and each prior owner of this Warrant.

            (f) Exercise or Transfer Without Registration. If, at the time of
      the surrender of this Warrant in connection with any exercise, transfer,
      or exchange of this Warrant, this Warrant (or, in the case of any
      exercise, the Warrant Shares issuable hereunder), shall not be registered
      under the Securities Act of 1933, as amended (the "Securities Act") and
      under applicable state securities or blue sky laws, the Company may
      require, as a condition of allowing such exercise, transfer, or exchange,
      (i) that the holder or transferee of this Warrant, as the case may be,
      furnish to the Company a written opinion of counsel, which opinion and
      counsel are acceptable to the Company, to the effect that such exercise,
      transfer, or exchange may be made without registration under said Act and
      under applicable state securities or blue sky laws, (ii) that the holder
      or transferee execute and deliver to the Company an investment letter in
      form and substance acceptable to the Company and (iii) that the transferee
      be an "accredited investor" as defined in Rule 501(a) promulgated under
      the Securities Act; provided that no such opinion, letter or status as an
      "accredited investor" shall be required in connection with a transfer
      pursuant to Rule 144 under the Securities Act. The first holder of this
      Warrant, by taking and holding the same, represents to the Company that
      such holder is acquiring this Warrant for investment and not with a view
      to the distribution thereof.

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<PAGE>

      8. Registration Rights. The initial holder of this Warrant (and certain
assignees thereof) shall have the following registration rights:

            (a) Registration of Common Shares.

                  (i) Registration. The Company agrees to use its best efforts
                  to file a registration statement for registration under the
                  Securities Act of the shares issuable upon exercise of this
                  Warrant (the "Common Shares") on or before 90 days after the
                  date hereof and to use its best efforts to have the
                  registration statement declared effective within 150 days of
                  filing. The registration requested pursuant to this Section
                  8(a)(i) is referred to herein as the "Registration".

                  (ii) Restrictions on Registration. The Company will not be
                  obligated to effect a Registration within 120 days after the
                  effective date of a registration statement in which Common
                  Shares of the Investor are included in a registration
                  statement pursuant to Section 8(b) hereof. The Company may
                  postpone for a period not exceeding 90 days the filing or the
                  effectiveness of a registration statement for a Registration
                  if the Company provides Investor with written notice that in
                  the Company's good faith judgment such Registration might have
                  an adverse effect on any proposal or plan by the Company to
                  engage in any acquisition of assets (other than in the
                  ordinary course of business) or any merger, consolidation,
                  tender offer, public offering or similar transaction, provided
                  that, in such event, the Company will use its best efforts to
                  effect a Registration as promptly as practicable thereafter.

            (b) Participation in Registered Offerings. If the Company proposes
      or is required to register any of its shares or other equity securities
      for public sale for cash under the Securities Act (other than on Forms S-4
      or S-8 or similar registration forms), it will at each such time or times
      give written notice to the Investor of its intention to do so. Upon the
      written request of the Investor given within 20 days after receipt of any
      such notice, the Company shall use its best efforts to cause to be
      included in such registration any Common Shares held by the Investor
      requested to be registered; provided, that if the managing underwriter
      advises that less than all of the shares requested to be registered should
      be offered for sale so as not materially and adversely to affect the price
      or salability of such offering being registered by the Company, the
      Investor (but not the Company to the extent it desires to include shares
      for its own account) shall reduce the number of its Common Shares to be
      included in the registration statement as required by the underwriter to
      the extent requisite of all prospective sellers of the securities proposed
      to be registered (other than the Company) on a pro rata basis according to
      the amounts of securities proposed to be registered by all prospective
      sellers to permit the sale or other disposition (in accordance with the
      intended method of disposition thereof as aforesaid) by the prospective
      seller or sellers of the securities so registered. The registration
      requested pursuant to this Section 8(b) is referred to herein as the
      "Piggyback Registration".

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<PAGE>

            (c) Obligations of Investor. It shall be a condition precedent to
      the obligation of the Company to register any Common Shares pursuant to
      this Section 8 that the Investor shall furnish to the Company such
      information regarding the Common Shares held and the intended method of
      disposition thereof and other information concerning the Investor as the
      Company shall reasonably request and as shall be required in connection
      with the registration statement to be filed by the Company. If after a
      registration statement becomes effective the Company advises the Investor
      that the Company considers it appropriate to amend or supplement the
      applicable registration statement, the Investor shall suspend further
      sales of the Common Shares until the Company advises the Investor that
      such registration statement has been amended or supplemented.

            (d) Registration Proceedings. Whenever the Company is required by
      the provisions of this Section 8 to effect the registration of the Common
      Shares under the Securities Act, the Company shall:

                  (i) Prepare and promptly file with the SEC a registration
                  statement with respect to such securities and use its best
                  efforts to cause such registration statement to become
                  effective within 150 days of filing and remain effective;

                  (ii) Prepare and file with the SEC such amendments to such
                  registration statement and supplements to the prospectus
                  contained therein as may be necessary to keep such
                  registration statement effective;

                  (iii) Furnish to the Investor and to the underwriters of the
                  securities being registered such reasonable number of copies
                  of the registration statement, preliminary prospectus, final
                  prospectus and such other documents as such underwriters may
                  reasonably request in order to facilitate the public offering
                  of such securities;

                  (iv) Use its best efforts to register or qualify the
                  securities covered by such registration statement under such
                  state securities or Blue Sky Laws of such jurisdictions as the
                  Investor may reasonably request within twenty (20) days
                  following the original filing of such registration statement,
                  except that the Company shall not for any purpose be required
                  to execute a general consent to service of process or to
                  qualify to do business as a foreign corporation in any
                  jurisdiction wherein it is not so qualified;

                  (v) Notify the Investor, promptly after it shall receive
                  notice thereof, of the time when such registration statement
                  has become effective or a supplement to any prospectus forming
                  a part of such registration statement has been filed;

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<PAGE>

                  (vi) Notify the Investor promptly of any request by the SEC
                  for the amending or supplementing of such registration
                  statement or prospectus or for additional information; and

                  (vii) Prepare and promptly file with the SEC and promptly
                  notify the Investor of the filing of such amendment or
                  supplement to such registration statement or prospectus as may
                  be necessary to correct any statements or omissions if, at the
                  time when a prospectus relating to such securities is required
                  to be delivered under the Securities Act, any event shall have
                  occurred as the result of which any such prospectus or any
                  other prospectus as then in effect would include an untrue
                  statement of a material fact or omit to state any material
                  fact necessary to make the statements therein, in light of the
                  circumstances in which they were made, not misleading.
                  Notwithstanding any provision herein to the contrary, the
                  Company shall not be required to amend, supplement, or update
                  a prospectus contained in any registration statement if to do
                  so would result in an unduly burdensome expense to the
                  Company.

            (e) Expenses. With respect to the inclusion of the Common Shares in
      a registration statement pursuant to this Section 8, all registration
      expenses, fees, costs and expenses of and incidental to such registration,
      shall be borne by the Company; provided, however, that Investor shall bear
      its own professional fees and pro rata share of the underwriting discounts
      and commissions. The fees, costs and expenses of registration to be borne
      by the Company shall include, without limitation, all registration,
      filing, and printing expenses, fees and disbursements of counsel and
      accountants for the Company, fees and disbursements of counsel for the
      underwriter or underwriters of such securities (if the Company and/or
      selling security holders are required to bear such fees and
      disbursements), and all legal fees and disbursements and other expenses of
      complying with state securities or Blue Sky laws of any jurisdiction in
      which the securities to be offered are to be registered or qualified.

            (f) Indemnification of the Investor. Subject to the conditions set
      forth below, in connection with any registration of the Common Shares
      pursuant to this Section 8, the Company agrees to indemnify and hold
      harmless the Investor, any underwriter for the offering and each of their
      officers and directors and agents and each other person, if any, who
      controls Investor or their underwriter (each, an "Investor Indemnified
      Party"), within the meaning of Section 15 of the Securities Act, as
      follows:

                  (i) Against any and all loss, claim, damage and expense
                  whatsoever arising out of or based upon (including, but not
                  limited to, any and all expense whatsoever reasonably incurred
                  in investigating, preparing or defending any litigation,
                  commenced or threatened, or any claim whatsoever based upon)
                  any untrue or alleged untrue statement of a material fact
                  contained in any preliminary prospectus (if used prior to the
                  effective date of the registration statement), the
                  registration statement or the prospectus (as from time to time
                  amended and supplemented), or in any application or other
                  document executed by the Company or based upon written
                  information furnished by the Company filed in any jurisdiction
                  in order to qualify the Company' securities under the
                  securities laws thereof, or the omission or alleged omission
                  therefrom of a material fact required to be stated therein or
                  necessary to make the statements therein not misleading, or
                  any other violation of applicable federal or state statutory
                  or regulatory requirements or limitations relating to action
                  or inaction by the Company in the course of preparing, filing,
                  or implementing such registered offering; provided, however,
                  that the indemnity agreement contained in this section shall
                  not apply to any loss, claim, damage, liability or action
                  arising out of or based upon any untrue or alleged untrue
                  statement or omission made in reliance upon and in conformity
                  with any information furnished in writing to the Company by or
                  on behalf of the Investor expressly for use in connection
                  therewith or arising out of any action or inaction of the
                  Investor;

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                  (ii) Subject to the proviso contained in Subsection (i) above,
                  against any and all loss, liability, claim, damage and expense
                  whatsoever to the extent of the aggregate amount paid in
                  settlement of any litigation, commenced or threatened, or of
                  any claim whatsoever based upon any untrue statement or
                  omission (including, but not limited to, any and all expense
                  whatsoever reasonably incurred in investigating, preparing or
                  defending against any such litigation or claim) if such
                  settlement is effected with the written consent of the
                  Company; and

                  (iii) In no case shall the Company be liable under this
                  indemnity agreement with respect to any claim made against any
                  Investor Indemnified Party unless the Company shall be
                  notified, by letter or by facsimile confirmed by letter, of
                  any action commenced against such Investor Indemnified Party,
                  promptly after such person shall have been served with the
                  summons or other legal process giving information as to the
                  nature and basis of the claim. The failure to so notify the
                  Company, if prejudicial in any material respect to the
                  Company' ability to defend such claim, shall relieve the
                  Company from its liability to the indemnified person under
                  this Section 8(f), but only to the extent that the Company was
                  prejudiced. The failure to so notify the Company shall not
                  relieve the Company from any liability which it may have
                  otherwise than on account of this indemnity agreement. The
                  Company shall be entitled to participate at its own expense in
                  the defense of any suit brought to enforce any such claim, but
                  if the Company elects to assume the defense, such defense
                  shall be conducted by counsel chosen by it, provided such
                  counsel is reasonably satisfactory to the Investor Indemnified
                  Party in any suit so brought. In the event the Company elects
                  to assume the defense of any such suit and retain such
                  counsel, the Investor Indemnified Party in the suit shall,
                  after the date they are notified of such election, bear the
                  fees and expenses of any counsel thereafter retained by them,
                  as well as any other expenses thereafter incurred by them in
                  connection with the defense thereof; provided, however, that
                  if the Investor Indemnified Party reasonably believes that
                  there may be available to it any defense or counterclaim
                  different than those available to the Company or that
                  representation of the Investor Indemnified Party by counsel
                  for the Company presents a conflict of interest for such
                  counsel, then the Investor Indemnified Party shall be entitled
                  to defend such suit with counsel of its own choosing and the
                  Company shall bear the fees, expenses and other costs of such
                  separate counsel.

                                       8
<PAGE>

            (g) Indemnification of the Company. The Investor agrees to indemnify
      and hold harmless the Company, each underwriter for the offering, and each
      of their officers and directors and agents and each other person, if any,
      who controls the Company and the underwriter within the meaning of Section
      15 of the Securities Act and any other stockholder selling securities
      against any and all such losses, liabilities, claims, damages and expenses
      as are indemnified against by the Company under Section 8(f) (i), (ii) and
      (iii) above; provided, however, that such indemnification by Investor
      hereunder shall be limited to any losses, liabilities, claims, damages, or
      expenses to the extent caused by any untrue statement of a material fact
      or omission of a material fact (required to be stated therein or necessary
      to make statements therein not misleading), if any made (or in settlement
      of any litigation effected with the written consent of such Investors,
      alleged to have been made) in any preliminary prospectus, the registration
      statement or prospectus or any amendment or supplement thereof or in any
      application or other document in reliance upon, and in conformity with,
      written information furnished in respect of such Investor by or on behalf
      of such Investor expressly for use in any preliminary prospectus, the
      registration statement or prospectus or any amendment or supplement
      thereof or in any such application or other document or arising out of any
      action or inaction of such Investor in implementing such registered
      offering. Notwithstanding the foregoing, the indemnification obligation of
      Investor shall not exceed the purchase price of the Note. In case any
      action shall be brought against the Company, or any other person so
      indemnified, in respect of which indemnity may be sought against any
      Investor, such Investor shall have the rights and duties given to the
      Company, and each other person so indemnified shall have the rights and
      duties given to Investor, by the provisions of Section 8(f). The person
      indemnified agrees to notify the Investor promptly after the assertion of
      any claim against the person indemnified in connection with the sale of
      securities.

            (h) Contribution. If the indemnification provided for in Sections
      8(f) and 8(g) above are unavailable or insufficient to hold harmless an
      indemnified party in respect of any losses, claims, damages or liabilities
      (or actions in respect thereof) referred to therein, then each
      indemnifying party shall contribute to the amount paid or payable by such
      indemnified party as a result of such losses, claims, damages or
      liabilities (or actions in respect thereof) in such proportion as is
      appropriate to reflect the relative fault of the indemnified party, on one
      hand, and such indemnifying party, on the other hand, in connection with
      the statements or omissions which resulted in such losses, claims,
      damages, or liabilities (or actions in respect thereof). The relative
      fault shall be determined by reference to, among other things, whether the
      untrue or alleged untrue statement of a material fact or the omission or
      alleged omission to state a material fact relates to information supplied
      by the indemnified party, on one hand, or such indemnifying party, on the
      other hand, and the parties' relative intent, knowledge, access to
      information and opportunity to correct or prevent such statement or
      omission. No person who has committed fraudulent misrepresentation (within
      the meaning of the Securities Act) shall be entitled to contribution from
      any person who was not guilty of such fraudulent misrepresentation. The
      amount paid or payable by an indemnified party as a result of the losses,
      claims, damages or liabilities (or actions in respect thereof) referred to
      above in this Section shall be deemed to include any legal or other
      expenses reasonably incurred by such indemnified party in connection with
      investigating or defending any such action or claim.

                                        9
<PAGE>

            (i) Assignment of Registration Rights. The right to have the Company
      register Common Shares pursuant to this Agreement shall be automatically
      assignable to any transferee of all or any portion of the Debentures,
      warrants or Common Shares if: (a) the Investor agrees in writing with the
      transferee or assignee to assign such rights, and a copy of such agreement
      is furnished to the Company within a reasonable time after such
      assignment, (b) the Company is, within a reasonable time after such
      transfer or assignment, furnished with written notice of (i) the name and
      address of such transferee or assignee, and (ii) the securities with
      respect to which such registration rights are being transferred or
      assigned, (c) following such transfer or assignment, the further
      disposition of such securities by the transferee or assignee is restricted
      under the 1933 Act and applicable state securities laws and, (d) at or
      before the time the Company receives the written notice contemplated by
      clause (b) of this sentence, the transferee or assignee agrees in writing
      with the Company to be bound by all of the provisions contained herein
      (the foregoing a "Permitted Transferee").

      9. Notices. All notices, requests, and other communications required or
permitted to be given or delivered hereunder to the holder of this Warrant shall
be in writing, and shall be personally delivered, or shall be sent by certified
or registered mail or by recognized overnight mail courier, postage prepaid and
addressed, to such holder at the address shown for such holder on the books of
the Company, or at such other address as shall have been furnished to the
Company by notice from such holder. All notices, requests, and other
communications required or permitted to be given or delivered hereunder to the
Company shall be in writing, and shall be personally delivered, or shall be sent
by certified or registered mail or by recognized overnight mail courier, postage
prepaid and addressed, to the office of the Company at 12777 Jones Road, Suite
481, Houston, Texas 77070, Attention: President, or at such other address as
shall have been furnished to the holder of this Warrant by notice from the
Company. Any such notice, request, or other communication may be sent by
facsimile, but shall in such case be subsequently confirmed by a writing
personally delivered or sent by certified or registered mail or by recognized
overnight mail courier as provided above. All notices, requests, and other
communications shall be deemed to have been given either at the time of the
receipt thereof by the person entitled to receive such notice at the address of
such person for purposes of this Paragraph 9, or, if mailed by registered or
certified mail or with a recognized overnight mail courier upon deposit with the
United States Post Office or such overnight mail courier, if postage is prepaid
and the mailing is properly addressed, as the case may be.

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<PAGE>

      10. Governing Law. THIS WARRANT SHALL BE ENFORCED, GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICT OF LAWS. THE PARTIES HERETO HEREBY SUBMIT TO THE
EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED IN NEW YORK
WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS WARRANT, THE AGREEMENTS ENTERED
INTO IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.
BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT FORUM TO THE
MAINTENANCE OF SUCH SUIT OR PROCEEDING. BOTH PARTIES FURTHER AGREE THAT SERVICE
OF PROCESS UPON A PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED IN EVERY
RESPECT EFFECTIVE SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR
PROCEEDING. NOTHING HEREIN SHALL AFFECT EITHER PARTY'S RIGHT TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW. BOTH PARTIES AGREE THAT A FINAL
NON-APPEALABLE JUDGMENT IN ANY SUCH SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND
MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON SUCH JUDGMENT OR IN ANY OTHER
LAWFUL MANNER. THE PARTY WHICH DOES NOT PREVAIL IN ANY DISPUTE ARISING UNDER
THIS WARRANT SHALL BE RESPONSIBLE FOR ALL FEES AND EXPENSES, INCLUDING
ATTORNEYS' FEES, INCURRED BY THE PREVAILING PARTY IN CONNECTION WITH SUCH
DISPUTE.

      11. Miscellaneous.

            (a) Amendments. This Warrant and any provision hereof may only be
      amended by an instrument in writing signed by the Company and the holder
      hereof.

            (b) Descriptive Headings. The descriptive headings of the several
      paragraphs of this Warrant are inserted for purposes of reference only,
      and shall not affect the meaning or construction of any of the provisions
      hereof.

            (c) Remedies. The Company acknowledges that a breach by it of its
      obligations hereunder will cause irreparable harm to the holder, by
      vitiating the intent and purpose of the transaction contemplated hereby.
      Accordingly, the Company acknowledges that the remedy at law for a breach
      of its obligations under this Warrant will be inadequate and agrees, in
      the event of a breach or threatened breach by the Company of the
      provisions of this Warrant, that the holder shall be entitled, in addition
      to all other available remedies at law or in equity, and in addition to
      the penalties assessable herein, to an injunction or injunctions
      restraining, preventing or curing any breach of this Warrant and to
      enforce specifically the terms and provisions thereof, without the
      necessity of showing economic loss and without any bond or other security
      being required.

                                       11
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by
its duly authorized officer.

                             HEALTHRENU MEDICAL, INC.

                             By:      _______________________________
                                      Robert W. Prokos
                                      Chief Executive Officer and President

Dated:  November 15, 2006

                                       12
<PAGE>

                           FORM OF EXERCISE AGREEMENT

                                                       Dated:  ________ __, 200_

To:      ______________________

      The undersigned, pursuant to the provisions set forth in the within
Warrant, hereby agrees to purchase ________ shares of Common Stock covered by
such Warrant, and makes payment herewith in full therefor at the price per share
provided by such Warrant in cash or by certified or official bank check in the
amount of $________. Please issue a certificate or certificates for such shares
of Common Stock in the name of and pay any cash for any fractional share to:

                            Name:    ______________________________

                            Signature:  ____________________________
                            Address:    ____________________________
                                        ____________________________

                                Note:       The above signature should
                                            correspond exactly with the name
                                            on the face of the within Warrant,
                                            if applicable.

and, if said number of shares of Common Stock shall not be all the shares
purchasable under the within Warrant, a new Warrant is to be issued in the name
of said undersigned covering the balance of the shares purchasable thereunder
less any fraction of a share paid in cash.

                                       13
<PAGE>

                               FORM OF ASSIGNMENT

         FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and
transfers all the rights of the undersigned under the within Warrant, with
respect to the number of shares of Common Stock covered thereby set forth
hereinbelow, to:

Name of Assignee                    Address                   No. of Shares
----------------                    -------                   -------------

, and hereby irrevocably constitutes and appoints ______________________________
as agent and attorney-in-fact to transfer said Warrant on the books of the
within-named corporation, with full power of substitution in the premises.

Dated:   ________ __, 200_

In the presence of:             _____________________________

                            Name:______________________________

                            Signature:_________________________
                            Title of Signing Officer or Agent (if any):

                                     ______________________________
                            Address: ______________________________
                                     ______________________________

                                Note:       The above signature should
                                            correspond exactly with the name
                                            on the face of the within Warrant,
                                            if applicable.

                                       14Resolution

    Exhibit
      10.1

    RESOLUTIONS

    OF

    THE
      HUMAN RESOURCES AND COMPENSATION COMMITTEE 

    OF
      THE 

    BOARD
      OF DIRECTORS OF 

    J.
      C. PENNEY COMPANY, INC. 

    RESOLVED,
      that pursuant to Article 8 of the J. C. Penney Corporation, Inc. Mirror Savings
      Plans I and II (“Mirror Plans”), the Mirror Plans be, and they hereby are,
      amended, to delete section 3.04 of the Mirror Plans in its entirety and insert
      substantially the following in lieu thereof:

    

    3.04
      Mirror Company Matching
      Contribution

    

    For
      the
      2006 Plan Year, the Company will credit to the Mirror Company Matching
      Contribution Account a matching contribution for each Active Participant in
      an
      amount equal to (i) 50% (or such other percent as may be determined from time
      to
      time by the Human Resources and Compensation Committee) of the Active
      Participant’s deferral contribution to the Plan for the Company’s fiscal year
      that does not exceed 6% of the Active Participant’s Compensation for the year
      reduced by (ii) the maximum matching contribution the Active Participant could
      have received under the Savings Plan. Each Active Participant’s matching
      contribution will be calculated in the same manner as in the examples set forth
      in Exhibit A to the Amended and Restated J. C. Penney Corporation, Inc. Mirror
      Savings Plan.

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