Document:

Exhibit 10.1
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                     Contract on Transferring Mining License
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Party A :   Kangding Kangma Mining Ltd., Co.

Name of organization:   Kangding Kangma Mining Ltd., Co.

Address   Kongyu County, Kangding City, Sicuan Province, PRC

Legal representative (authorized person):   Shiyang Xu

Postal code :   615000

Tel.: (Fax) :   13060315645

Party B :   Yunnan Longteng Mining Ltd.

Name of organization:   Yunnan Longteng Mining Ltd.

Address : 2708 Room, A Unit,  Dushimingyuan  Building,  Middle of Renming  Road,
Kunming City, Yunnan Province, PRC

Legal representative (authorized person):   Rongjin Yang

Postal code :   650031

Tel.: (Fax) :   0871-3642422

<PAGE>

In  accordance  with the Law of Mineral  Resources of the  People's  Republic of
China, Management Method for Transferring Exploration License and Mining License
and Law of Contract of the People's Republic of China, after both sides friendly
negotiation and depending on the fair  confidential and both winning  principle,
this Contract is hereby signed for transferring  Mining License in Xintaizi Gold
Mine (No. of License :  5133000310022,  area:  3.0877 km) from Party A (Kangding
County Kangma Mining Ltd., Co) to Party B and adjusting in Legal  Representative
of Kangding  County Kangma Mining Ltd.,  Co., its shareholder and Industrial and
Commercial Registration

Article 1. In accordance  with the provisions of laws,  regulations and relevant
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rules of the  People's  Republic of China and after being  confirmed by Party A,
the  ownership of mining right of Xintaizi  Gold Mine,  owed by Kangding  County
Kangma  Mining  Ltd.,  Co.,  is clear  and  definite,  which  conforms  to legal
assignment  conditions by Sicuan Provincial State Land and Resource Bureau,  and
belongs to non-disputed mining right.

Article 2. Party B (Yunnan  Longteng Mining Ltd,. Co.) declares:  Before signing
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the  Contract,  Party  B has  consulted  all of  the  technical  and  economical
information  on this  mining  right,  which can satisfy the needs of signing the
Contract  by  Party  B.  At  the  same  time,  Party  B has  made  a  plenty  of
investigations and demonstrations upon surrounding  environmental  conditions of
mining-right  area.  Party B makes the commitment  that all risks occurred after
the assignment of the Mining License will be borne by Party B.

Article 3. Main Content and Condition of Assignment
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This  transfer,  including the Mining  License in Xintaizi  Gold Mine,  owned by
Kangding County Kangma Mining Ltd,. Co., and its already bought mine manufacture
equipment (referring to Party A's provided the equipment list) is payable, Party
A should  stop all the mine  action  after  Party B pays the first  part  buying
capital,  start to apply the Mining  License  transfer  procedure and adjust the
company's  legal  representative,  shareholder and its Industrial and Commercial
Registration.

Article 4. Charge Standard and Way of Payment
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4.1  Transfer fee

According  to the fair,  impartial  and open  principle  and after  both  sides'
complete  negotiation  and mutual  approval,  this project of Xintaizi Gold Mine
owned by Kangding County Kangma Mining Ltd,. Co. transfer fee is 2,100,000RMB.

4.2 Way of payment

1.   Party B should  pay  100,000RMB  to  Party A,  after  both  sides  sign the
contract.

2.   Party B should pay 50% of the whole  transfer  fee  (including  the already
paid  100,000RMB) to Party A in 15 days,  which is 950,000RMB,  after both sides
sign the contract

3.   When the adjusting company legal representative, shareholder and Industrial
and  Commercial   Registration  from  Party  A  to  Party  B's  appointed  legal
representative and shareholder finished,  Party B should pay the rest 50% of the
whole transfer fee to Party A in the same day, which is 1,050,000RMB.

Article 5. Right and Obligations of the Parties
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1.   Right and Obligations of Party A

<PAGE>

1.1.  In order for  ensuring  the  assignment  of mining  right  conforms to the
provisions  of China's  laws and  regulations  and to  safeguard  the rights and
interests of Party A and Party B, Party A shall have the right to make necessary
investigation and understanding upon Party B's qualifications and credit status.

1.2.  Based on Party B's  requirement,  Party A shall  apply the Mining  License
transfer in Xintaizi  Gold Mine and adjust its company's  legal  representative,
shareholder and Industrial and Commercial registration for Party B, and fees and
expenses incurred will be borne by Party A.

1.3   Party A shall bear responsibility  for all related  creditor's  rights and
debt before  finishing  the Mining  License  transferring  of Xintaizi Gold Mine
owned by Kangding  County Kangma  Mining Ltd,.  Co., and the adjusting its legal
representative, shareholder and industrial and commercial registration.

1.4.  Party A should positively help Party B and harmonize the relationship with
local government, but the fee and expense should be paid by Party B.

2.   Right and Obligations of Party B

2.1.  Party  B has the  right  to do  some  investigation  in  Party  A's  legal
geological area.

2.2.  Party B shall have the right to  understand  and find out from Party A the
geological and technical conditions and regional circumstances related to Mining
License  to be  transferred,  and  Party A should  supply  then in free and help
positively.

2.3.  Party B shall have the  responsibility to keep business secrets of Party A
which  may be  disclosed  during  this  transaction.  Prior to the  approval  by
relevant  registration and  administrative  departments for transferring  mining
right, Party B must not disclose any information  related to the mining right to
any third parties.

2.4.  Party B must  completely  implement  the  provisions  of  Article 4 in the
Contract and pay the Mine Exploration Transfer fee to Party A.

2.5.  From the day of transferring Mining License and adjusting  company's legal
representative,  shareholder and industrial and commercial registration to Party
B, Party B shall be responsible for all the relevant creditor's rights and debt.

2.6.  Party B has the right to begin the  geological  and  manufacturing  work ,
after both sides signed the contract.

Article 6. Declaration, Undertaking and Warranty
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Declaration, undertaking and warranty made by two Parties to each other:

1.   Having the right to sign this Contract and the  capability to fully perform
its obligations under the Contract.

2.   Having  the   capability  to  take  all  necessary   actions  in  order  to
satisfactorily complete the assignment agreed under the Contract.

Article 7. Liabilities for Breach of Contract
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1.   Upon signing of the Contract by the parties,  each party shall  perform its
liabilities and obligations  under the Contract.  No any party can be allowed to
declare unilaterally to terminate the Contract.

2.   Once the breach of contract happened,  if observant party considers through
reasonable and objective judgment that the breach of the Contract will cause the
impossibility  or unfairness to continue  performing its  obligations  under the
Contract  by  observant  party,  then  observant  party  shall have the right to
terminate  the  Contract,  or continue to carry out the Contract  after  default

<PAGE>

party stops its default  actions and takes  complete and  effective  measures to
eliminate adverse consequences aroused by breach of the Contract and compensates
observant party for its losses.

3.   Default party shall  compensate  the losses of observant  party,  including
direct  economic  loss,  anticipated  indirect  loss  and  extra  expenses.  The
compensating  amount  and  schedule  can be  discussed  by  both  sides,  if the
discussion  can't  get  the  mutual  approval,   relative  legal  administration
department can make the final decision in it.

4.   Party B shall  compensate  Party A with 10% of the contract  transfer  fee,
when Party B violates the liabilities of confidentiality stipulated in Item 2 of
Article 5 in the Contract.

5.   Party A shall  compensate  Party B with 10% of the contract  transfer  fee,
when Party A violates the  liabilities of in No. 2 of Item 1 of Article 5 in the
Contract.

Article 8. Integrality and Separability
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1.   Except  for this  contract,  there are no other  understanding,  liability,
statement and warranty  existing.  And except the contents in the  Contract,  no
other rights and liabilities can be imposed on the parties under the contract.

2.   Some items and articles of the  Contract  will be deemed to be abolished in
case they are completely or partially invalid or have no implementing  force due
to improper use of laws. Nevertheless,  other items and articles of the Contract
are still valid and have some binding force as well.

Article  9  The Contract  will  be  signed  by  legal  representatives  or  duly
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authorized  persons of both parties and affixed with the seals of the  companies
or  individuals.  When first sum of money from Party B comes into the account of
Party A, the Contract will become effective.

Article 10 Matters unsettled in the Contract will be solved through consultation
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between both sides.

Article 11 The Contract will be prepared in six (6) originals, if which four (4)
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originals  will be used to  registering  the  assignment  of Mining  License and
adjusting  of company  legal  representative,  shareholder  and  industrial  and
commercial registration,  and the other two (2) will be held by Parties A and B,
with one for each.

Signed by Party A:                                Signed by Party B:
Kangding Kangma Mining                            Yunnan Longteng Mining Ltd.
Ltd., Co.

Legal Representative                              Legal Representative
(or Duly Authorized Person):                      (or Duly Authorized Person)

Dated on:                                         Dated on:Incentive Stock Option Agreement

[Date]

Dear ________________________:

      I am pleased to inform you that Diomed Holdings, Inc. (the "Company") has
granted you incentive stock options to purchase shares of the Company's Common
Stock as set forth below.

      The grant of this option is made pursuant to the Diomed Holdings, Inc.
2003 Omnibus Incentive Plan (the "Plan"). This Stock Option is intended to
qualify as an "incentive stock option" under Section 422 of the Internal Revenue
Code of 1986, as amended from time to time. The terms of the Plan are
incorporated into this letter and in the case of any conflict between the Plan
and this letter, the terms of the Plan shall control.

      Now, therefore, in consideration of the foregoing and the mutual covenants
hereinafter set forth:

            1. Incentive Stock Option. The Company hereby grants you an
incentive stock option ("ISO") to purchase from the Company [______] shares of
Company Common Stock at a price of [$_____] per share. The Date of Grant is
[________________]. Unless earlier exercised or terminated in accordance with
the terms hereunder and in the Plan, this ISO will expire on the date that is
the tenth anniversary of the Date of Grant. [MAXIMUM OF 10 YEARS PERMITTED UNDER
PLAN]

            2. Entitlement to Exercise the ISO. The grant of the ISO is subject
to the following terms and conditions:

                  (a) The ISO shall be exercisable in accordance with the
following schedule:

                  3 year vesting on a quarterly basis in arrears from the Date
of Grant.

      The ISO shall cease to vest as of the date of termination for any reason
of your employment or other relationship underlying the issuance of this ISO.

            (b) If you die when any portion of the ISO is exercisable, then the
person to whom your rights under the ISO shall have passed by will or by the
laws of distribution may exercise any of the exercisable portion of the ISO
within one (1) year after your death, provided that no ISO may be exercised in
any event more than ten years after the Date of Grant. [MAXIMUM OF 10 YEARS
PERMITTED UNDER PLAN]
<PAGE>

            3. Method of Exercise & Payment Under ISO. You may exercise the
vested portion of the ISO in whole or in part, by giving written notice to the
Company which shall state the election to exercise the ISO and the number of
shares of Company Stock with respect to which the ISO is being exercised. The
written notice shall be signed by the person exercising the ISO, shall be
delivered to the Corporate Secretary of the Company at the Company's principal
executive office, and shall be accompanied by payment in full of the exercise
price for the shares of Company Stock being purchased, by delivery of cash or
check.

            4. Tax Withholding. As a condition of exercise, you agree that at
the time of exercise that you will pay to the Company the Applicable Withholding
Taxes, if any, that the Company is required to withhold in connection with the
exercise of the ISO. To satisfy the Applicable Withholding Taxes, you may elect
to (i) make cash payment or authorize additional withholding from cash
compensation, or (ii) have the Company retain that number of shares of Company
Stock that would satisfy all or a portion of the Applicable Withholding Taxes.

            5. Transferability of ISO. The ISO is not transferable by you (other
than by will or by the laws of descent and distribution) and may be exercised
during your lifetime only by you.

            6. Termination of ISO. In the event that your employment or other
relationship underlying the issuance of this ISO is terminated for Cause, your
vested and non-vested ISO rights shall be forfeited and terminated immediately
and may not thereafter be exercised to any extent.

            In the event that your employment or other relationship underlying
the issuance of this ISO is terminated by you or the Company for any reason
other than Cause or your death, you shall have the right to exercise the portion
of the ISO that has vested as of the date of such termination at any time during
the ninety (90) day period following the date of such termination, and not
thereafter, provided that no ISO may be exercised in any event more than ten
(10) years after the Date of Grant

            7. Adjustments. If the number of outstanding shares of Company Stock
is increased or decreased as a result of one or more stock splits, reverse stock
splits, stock dividends, recapitalizations, mergers, share exchange
acquisitions, combinations or reclassifications, the number of shares with
respect to which you have an unexercised ISO and the ISO price shall be
appropriately adjusted as provided in the Plan.
<PAGE>

            8. Delivery of Certificate. The Company may delay delivery of the
certificate for shares purchased pursuant to the exercise of an ISO until (i)
receipt of any required representation by you or completion of any registration
or other qualification of such shares under any state or federal law regulation
that the Company's counsel shall determine as necessary or advisable, and (ii)
receipt by the Company of advice by counsel that all applicable legal
requirements have been complied with. As a condition of exercising the ISO, you
may be required to execute a customary written indication of your investment
intent and such other agreements the Company deems necessary or appropriate to
comply with applicable securities laws.

            9. No Guaranteed Right of Employment. If you are employed by the
Company, nothing contained herein shall confer upon you any right to be
continued in the employment of the Company or interfere in any way with the
right of the Company to terminate your employment at any time for any cause.

            10. Notice of Disqualifying Dispositions. You agree to notify the
Company in writing immediately after you make a disposition of any shares
acquired upon exercise of this ISO if such disposition occurs before the later
of (a) the date that is two years after the Date of Grant, or (b) the date that
is one year after the date that you acquired such shares upon exercise of this
ISO.

            11. Notices. Notices hereunder shall be mailed or delivered to the
Company at its principal place of business, and shall be delivered to you in
person or mailed or delivered to you at the address set forth below, or in
either case at such other address as one party may subsequently furnish to the
other party in writing.

            12. Choice of Law. This Agreement shall be governed by Delaware law,
without giving effect to the conflicts of laws provisions thereof.

                               Diomed Holdings, Inc.

                               -------------------------------------
                               Christopher J. Geberth
                               Vice President - Finance Corporate Controller

ACKNOWLEDGEMENT BY OPTIONEE

The foregoing ISO is hereby accepted and the terms and conditions thereof hereby
agreed to by the undersigned as of the Date of Grant specified above.

                                            ----------------------------
                                            Optionee's Signature

                                            Optionee's Address:

                                            -----------------------------

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