Document:

ex_10-1.htm

    EXHIBIT
10.1   2009 NON-QUALIFIED ATTORNEYS STOCK COMPENSATION
PLAN

    

    

    2009
NON-QUALIFIED ATTORNEYS

    STOCK
COMPENSATION PLAN

    

    1.           Purpose of Plan

    

    This 2009 Non-Qualified Attorneys Stock
Compensation Plan (the “Plan”) of Competitive Companies, Inc.., a Nevada
corporation (the “Company”) for attorneys associated with the Company, is
intended to advance the best interests of the Company by providing those persons
who have a substantial responsibility for its public SEC disclosure filings
under the Exchange Act, with additional incentive and by increasing their
proprietary interest in the success of the Company, thereby encouraging them to
maintain their relationships with the Company.

    

    2.           Definitions

    

    For Plan purposes, except where the
context might clearly indicate otherwise, the following terms shall have the
meanings set forth below:

    

    “Board” shall mean the Board of
Directors of the Company.

    

    “Committee” shall mean the Compensation
Committee, or such other committee appointed by the Board, which shall be
designated by the Board to administer the Plan, or the Board if no committees
have been established.  The Committee shall be composed of one or more
persons as from time to time are appointed to serve by the
Board.  Each member of the Committee, while serving as such, shall be
a disinterested person with the meaning of Rule 16b-3 promulgated under the
Securities Exchange Act of 1934.

    

    “Common Shares” shall mean the
Company’s Common Shares, $0.001 par value per share, or, in the event that the
outstanding Common Shares are hereafter changed into or exchanged for different
shares of securities of the Company, such other shares or
securities.

    

    “Common Stock” shall mean shares of
common stock which are issued by the Company pursuant to Section 5,
below.

    

    “Common
Stock Agreement” means an agreement executed by a Common Stockholder and the
Company, or alternatively a board resolution setting forth the terms of
issuance, as contemplated by Section 5, below, which imposes on the shares of
Common Stock held by the Common Stockholder such restrictions as the Board or
Committee deem appropriate.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Common
Stockholder” means
any attorney or accountant for the Company or other person to whom shares of
Common Stock are issued pursuant to this Plan.

    

    “Company” shall mean Competitive
Companies, Inc., a Nevada corporation, and any subsidiary corporation of
Competitive Companies, Inc.

    

    “Fair Market Value” shall mean, with
respect to the date a given stock compensation is granted, the average of the
highest and lowest reported sales prices of the Common Shares, as reported by
such responsible reporting service as the Committee may select, or if there were
not transactions in the Common Shares on such day, then the last preceding day
on which transactions took place.  The above withstanding, the
Committee may determine the Fair Market Value in such other manner as it may
deem more equitable for Plan purposes or as is required by applicable laws or
regulations. The Fair Market Value for purposes of the issuance of common stock
under this plan has been established to be 50% of $0.045 per share on July 2,
2009 ($0.0225).

    

    3.           Administration of the
Plan

    

    3.1           The
Committee shall administer the Plan and accordingly, it shall have full power to
grant Common Stock, construe and interpret the Plan, establish rules and
regulations and perform all other acts, including the delegation of
administrative responsibilities, it believes reasonable and proper.

    

    3.2           The
determination of those eligible to receive Common Stock, and the amount, type
and timing of each issuance and the terms and conditions of the Common Stock
Agreements shall rest in the sole discretion of the Committee, subject to the
provisions of the Plan.

    

    3.3           The
Board, or the Committee, may correct any defect, supply any omission or
reconcile any inconsistency in the Plan in the manner and to the extent it shall
deem necessary to carry it into effect.

    

    3.4           Any
decision made, or action taken, by the Committee or the Board arising out of or
in connection with the interpretation and administration of the Plan shall be
final and conclusive.

    

    3.5           Meetings
of the Committee shall be held at such times and places as shall be determined
by the Committee.  A majority of the members of the Committee shall
constitute a quorum for the transaction of business, and the vote of a majority
of those members present at any meeting shall decide any question brought before
that meeting.  In addition, the Committee may take any action
otherwise proper under the Plan by the affirmative vote, taken without a
meeting, of a majority of its members.

    

    3.6           No
member of the Committee shall be liable for any act or omission of any other
member of the Committee or for any act or omission on his own part, including,
but not limited to, the exercise of any power or discretion given to him under
the Plan, except those resulting from his own gross negligence or willful
misconduct.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.           Shares Subject to the
Plan

    

    The total number of shares of the
Company available for issuance of Common Stock under the Plan shall be 1,463,282
Common Shares, subject to adjustment in accordance with Article 7 of the Plan,
which shares may be either authorized but unissued or reacquired Common Shares
of the Company.

    

    5.           Award
Of Common Stock

    

    5.1           The
Board or Committee from time to time, in its absolute discretion, may (a) award
Common Stock to attorneys for the Company, and such other persons as the Board
or Committee may select.

    

    5.2           Common
Stock shall be issued only pursuant to a Common Stock, Board Resolution, or
Consulting Agreement, which shall be executed by the Common Stockholder, unless
by Board Resolution, and the Company and which shall contain such terms and
conditions as the Board or Committee shall determine consistent with this Plan,
including such restrictions on transfer as are imposed by the Common Stock or
Consulting Agreement.

    

    5.3           Upon
delivery of the shares of Common Stock to the Common Stockholder, below, the
Common Stockholder shall have, unless otherwise provided by the Board or
Committee, all the rights of a stockholder with respect to said shares, subject
to the restrictions in the Common Stock or Consulting Agreement, including the
right to receive all dividends and other distributions paid or made with respect
to the Common Stock.

    

    5.4           All
shares of Common Stock issued under this Plan (including any shares of Common
Stock and other securities issued with respect to the shares of Common Stock as
a result of stock dividends, stock splits or similar changes in the capital
structure of the Company) shall be subject to such restrictions as the Board or
Committee shall provide, which restrictions may include, without limitation,
restrictions concerning voting rights, transferability of the Common Stock and
restrictions based on duration of employment with the Company, Company
performance and individual performance; provided that the Board or Committee
may, on such terms and conditions as it may determine to be appropriate, remove
any or all of such restric­tions.  Common Stock may not be sold or
encumbered until all applicable restrictions have terminated or
expire.  The restrictions, if any, imposed by the Board or Committee
or the Board under this Section 5 need not be identical for all Common Stock and
the imposition of any restrictions with respect to any Common Stock shall not
require the imposition of the same or any other restrictions with respect to any
other Common Stock.

    

    6.           Adjustments or Changes in
Capitalization

    

    6.1           In
the event that the outstanding Common Shares of the Company are hereafter
changed into or exchanged for a different number or kind of shares or other
securities of the Company by reason of merger, consolidation, other
reorganization, recapitalization, reclassification, combination of shares, stock
split-up or stock dividend, within 6 months from the date hereof, and assuming
the shares issued pursuant to this plan are still owned or fully controlled by
the issuee under this plan, then in that event there shall be a like adjustment
in the number of shares held by such issuee.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6.2           The
foregoing adjustments and the manner of application of the foregoing provisions
shall be determined solely by the Committee, whose determination as to what
adjustments shall be made and the extent thereof, shall be final, binding and
conclusive.  No fractional Shares shall be issued under the Plan on
account of any such adjustments.

    

    7.           Government and Other
Regulations

    

    The obligation of the Company to issue,
transfer and deliver Common Shares under the Plan shall be subject to all
applicable laws, regulations, rules, orders and approval which shall then be in
effect and required by the relevant stock exchanges on which the Common Shares
are traded and by government entities as set forth below or as the Committee in
its sole discretion shall deem necessary or advisable.

    

    8.           Miscellaneous
Provisions

    

    8.1           Any
expenses of administering this Plan shall be borne by the Company, except the
recipients of the common shares shall be responsible for the costs of
preparation of this registration statement and the filing thereof.

    

    8.2           The
place of administration of the Plan shall be in the State of Nevada, or such
other place as determined from time to time by the Board, and the validity,
construction, interpretation, administration and effect of the Plan and of its
rules and regulations, and rights relating to the Plan, shall be determined
solely in accordance with the laws of the State of Nevada.

    

    8.3           In
addition to such other rights of indemnification as they may have as members of
the Board or the Committee, the members of the Committee shall be indemnified by
the Company against all costs and expenses reasonably incurred by them in
connection with any action, suit or proceeding to which they or any of them may
be party by reason of any action taken or failure to act under or in connection
with the Plan against all amounts paid by them in settlement thereof (provided
such settlement is approved by independent legal counsel selected by the
Company) or paid by them in satisfaction of a judgment in any such action, suit
or proceeding, except a judgment based upon a finding of bad
faith;  provided that upon the institution of any such action, suit or
proceeding a Committee member shall, in writing, give the Company notice thereof
and an opportunity, at its own expense, to handle and defend the same, with
counsel acceptable to the recipient,  before such Committee member
undertakes to handle and defend it on his own behalf.

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    9.           Written Agreement

    

    The Common Shares issued hereunder
shall be embodied in a board resolution which shall constitute a written Stock
Compensation Agreement which shall be subject to the terms and conditions
prescribed above and shall be signed by the recipient and by the President or
any Vice President of the Company, for and in the name and on behalf of the
Company.renewablefuelcorpf10ex10-01.htm

    
      

      

    

    Exhibit 10.1

    

    MEMORANDUM OF
UNDERSTANDING

    

    

    BETWEEN

    

    
      	
              [1]

            	
              RENEWAL FUEL CORP
      (Company No. E0635182007-8), a limited liability company incorporated in
      the State of California, United States of America with its registered
      address at 4625, West Nevso Dr. STE 2, Las Vegas 89103, United States of
      America (“RFC”) of the first party;

            

    

    

    
      
        	
                AND

              

      

    

    

    
      	
              [2]

            	
              SOLIGRESS SDN BHD
      (Company No. 666416-D), a limited liability company incorporated in
      Malaysia with its registered office at No. 2-2, Jalan SS6/6, Kelana Jaya,
      47301 Petaling Jaya, Selangor Darul Ehsan, Malaysia (“SSB”) of the third
      part.

            

    

    

    
      
        	
                (collectively,
      “Parties” and individually,
“Party”)

              

      

    

    

    
      
        	
                WHEREFORE THE PARTIES
      HEREBY SET FORTH THEIR
AGREEMENT:

              

      

    

    

    
      	
              1.

            	
              Purchase by
      SSB

            

    

    

    
      	
              1.1

            	
              Subject
      to the terms in this Memorandum, SSB shall purchase 8,750,000 common stock
      of RFC (the “Purchased Shares).

            

    

    

    
      	
              1.2

            	
              The
      Parties agree that upon completion of the purchase, SSB and WILLIAM H. VAN
      VLIET III (USA DL NO. V514-928-65-323-0) (“BILL”) shall hold the entire
      issued stock in RFC in the following proportion (the Shareholding
      Proportion”):

            

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      BILL

                                    	 	12.5	%
	
                                      SSB

                                    	 	87.5	%
	
                                      Total

                                    	 	100.0	%

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    
      	
              1.3

            	
              The
      Parties agree that no additional stock can be issued without mutual
      consent.

            

    

    

    
      	
              2.

            	
              Purchase
      Price

            

    

    

    
      	
               
      

            	
              SSB
      shall pay the sum of $650,000-00 to RFC as the price for the Subscription
      Shares (the “Purchase Price”) in accordance with Clause 3
      below.

            

    

    

    
      	
              3.

            	
              Completion
      Date

            

    

    

    
      	
               
      

            	
              Within
      10 days from the signing of this Memorandum, SSB shall pay the Purchase
      Price to RFC the “Completion
Date”).

            

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
      	
              4.

            	
              Utilization of Purchase
      Price

            

    

    

    
      	
               
      

            	
              The
      Parties agree that the Purchase Price shall be utilized for the following
      purposes:

            

    

     

    
      
        
          
            
              
                	      
                                    
      Purpose

                      	 	 	      
                        Amount 

                      	 
	 	 	 	 	 
	
                        Amount
      to be used as

                      	 	$	500,000.00	 
	
                        Collateral
      to establish lines of

                      	 	 	 	 
	
                        Credit
      for US banks

                      	 	 	 	 
	 
      	 	 	 	 
	
                        Amount
      for start-up expenses

                      	 	$	150,000.00	 
	
                        Total:

                      	 	$	650,000.00	 

              

            

          

        

      

    

    

    
      	
              5.

            	
              Bank Account & Cheque
      Signatories

            

    

    

    
      	
              5.1

            	
              Unless
      otherwise agreed by the Parties in writing, the Parties agree that RFC
      shall maintain one bank account for the time
  being.

            

    

    

    
      	
              5.2

            	
              There
      will be 2 cheque signatories for any amount above USD5,000-00 with one
      cheque signatory to be CHO NAM SANG and the other cheque signatory to be
      WILLIAM H. VAN VLIET III.  For any amount of USD5,000-00 and
      below, WILLIAM H. VAN VLIET III may be the sole cheque
      signatory

            

    

    

    In
witness whereof the authorized signatories of the Parties have executed this
Memorandum of Understanding the day and year abovewritten.

    

    

    RENEWABLE
FUEL CORP

    

    

    
      
        
          
            
              
                	 
      	 
      	 
      
	 
      	 
      	 
      
	
                        Name

                      	
                        :
      WILLIAM H. VAN VLIET III

                      	 
      
	
                        Designation

                      	
                        :
      Chief Executive Officer

                      	 
      
	
                        Date

                      	
                        :
      17 September 2007

                      	 
      
	 
      	 
      	 
      
	
                        SOLIGRESS
      SDN BHD

                      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
                        Name

                      	
                        :
      NG HUAT CHAI

                      	 
      
	
                        Designation

                      	
                        :
      Director

                      	 
      
	
                        Date

                      	
                        :
      17/9/07

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