Document:

[Exhibit 10.1]

              CHINA RENEWABLE ENERGY HOLDINGS, INC.

             2007 STOCK OPTION AND STOCK AWARD PLAN

                Effective as of December 18, 2007

A.   PURPOSE OF PLAN; EFFECTIVE DATE; DEFINITIONS; SHARES AND
     OPTIONS AVAILABLE UNDER PLAN.

1.   PURPOSE. The purpose of this Plan is to advance the
interests of CHINA RENEWABLE ENERGY HOLDINGS, INC, a Florida
corporation (the "Company"), by providing an incentive to
attract, retain and motivate highly qualified and competent
persons who are important to the Company and upon whose efforts
and judgment the success of the Company and its Subsidiaries is
largely dependent, including key employees, advisors,
consultants, independent contractors, Officers and Directors, by
authorizing the grant of either (a) options to purchase shares of
Common Stock of the Company or (b) shares of Common Stock of the
Company, in each case to persons who are eligible to participate
hereunder, thereby encouraging or facilitating stock ownership in
the Company by such persons, all upon and subject to the terms
and conditions of this Plan.

2.   EFFECTIVE DATE. This Plan became effective on December 18,
2007 upon its adoption and approval by the Board of Directors and
majority shareholders of the Company.

3.   DEFINITIONS. As used herein, the following terms shall have
the meanings indicated:

     (a)  "Board" shall mean the Board of Directors of the
Company.

     (b)  "Cause" shall mean any of the following:

          (i)  a determination by the Company that there has been
a willful, reckless or grossly negligent failure by the Grantee
to perform his or her duties as an employee of the Company;

          (ii) a determination by the Company that there has been
a willful breach by the Grantee of any of the material terms or
provisions of any employment, consulting or independent
contractor agreement between such Grantee and the Company;

          (iii)     any conduct by the Grantee that either
results in his or her conviction of a felony under the laws of
the United States of America or any state thereof, or of an
equivalent crime under the laws of any other jurisdiction;

          (iv) a determination by the Company that the Grantee
has committed an act or acts involving fraud, embezzlement,
misappropriation, theft, breach of fiduciary duty or material
dishonesty against the Company, its properties or personnel;

          (v)  any act by the Grantee that the Company determines
to be in willful or wanton disregard of the Company's best
interests, or which results, or is intended to result, directly
or indirectly, in improper gain or personal enrichment of the
Grantee at the expense of the Company;

          (vi) a determination by the Company that there has been
a willful, reckless or grossly negligent failure by the Grantee
to comply with any rules, regulations, policies or procedures of
the Company, or that the Grantee has engaged in any act, behavior
or conduct demonstrating a deliberate and material violation or

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disregard of standards of behavior that the Company has a right
to expect of its employees; or

     (vii)     if the Grantee, while employed or otherwise
engaged by the Company and for two years thereafter, violates a
confidentiality and/or noncompete agreement with the Company, or
fails to safeguard, divulges, communicates, uses to the detriment
of the Company or for the benefit of any person or persons, or
misuses in any way, any Confidential Information; provided,
however, that, if the Grantee has entered into a written
employment agreement with the Company which remains effective and
which expressly provides for a termination of such Grantee's
employment for "cause," the term "Cause" as used herein shall
have the meaning as set forth in the Grantee's employment
agreement in lieu of the definition of "Cause" set forth in this
Section A.3.

     (c)  "Change of Control" shall mean the acquisition by any
person or group (as that term is defined in the Securities
Exchange Act, and the rules promulgated pursuant to that act) in
a single transaction or a series of transactions of 30% or more
in voting power of the outstanding stock of the Company and a
change of the composition of the Board of Directors so that,
within two years after the acquisition took place, a majority of
the members of the Board of Directors of the Company, or of any
corporation with which the Company may be consolidated or merged,
are persons who were not Directors or Officers of the Company or
one of its Subsidiaries immediately prior to (i) the acquisition,
or (ii) the first of the series of transactions that resulted in
the acquisition, of 30% or more in voting power of the
outstanding stock of the Company.

     (d)  "Code" shall mean the Internal Revenue Code of 1986, as
amended.

     (e)  "Committee" shall mean the stock option or compensation
committee appointed by the Board or, if not appointed, the Board.

     (f)  "Common Stock" shall mean the Company's Common Stock,
par value $.001 per share.

     (g)  "Confidential Information" shall mean any and all
information pertaining to the Company's financial condition,
clients, customers, prospects, sources of prospects, customer
lists, trademarks, trade names, service marks, service names,
"know-how," trade secrets, products, services, details of client
or consulting contracts, management agreements, pricing policies,
operational methods, site selection, results of operations, costs
and methods of doing business, owners and ownership structure,
marketing practices, marketing plans or strategies, product
development techniques or plans, procurement and sales
activities, promotion and pricing techniques, credit and
financial data concerning customers and business acquisition
plans, that is not generally available to the public.

     (h)  "Director" shall mean a member of the Board.

     (i)  "Effective Date of Grant" means the date on which the
Board is deemed to have made the grant of Options or Shares.

     (j)  "Employee" shall mean any person, including Officers
and Directors, who are employed by the Company or any parent or
Subsidiary of the Company within the meaning of Code Section
3401(c) or the regulations promulgated thereunder.

     (k)  "Fair Market Value" of a Share on any date of reference
shall be the Closing Price of a share of Common Stock on the
business day immediately preceding such date, unless the
Committee in its sole discretion shall determine otherwise in a
fair and uniform manner. For this purpose, the "Closing Price" of
the Common Stock on any business day shall be (i) if the Common
Stock is listed or admitted for trading on any United States

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national securities exchange, or if actual transactions are
otherwise reported on a consolidated transaction reporting
system, the last reported sale price of the Common Stock on such
exchange or reporting system, as reported in any newspaper of
general circulation, (ii) if the Common Stock is quoted on The
NASDAQ Stock Market ("Nasdaq"), or any similar system of
automated dissemination of quotations of securities prices in
common use, the closing sales price, or if not available, the
mean between the closing high bid and low asked quotations for
such day of the Common Stock on such system, or (iii) if neither
clause (i) nor (ii) is applicable, the mean between the high bid
and low asked quotations for the Common Stock as reported by the
National Quotation Bureau, Incorporated if at least two
securities dealers have inserted both bid and asked quotations
for the Common Stock on at least five of the 10 preceding days.
If the information set forth in clauses (i) through (iii) above
is unavailable or inapplicable to the Company (E.G., if the
Company's Common Stock is not then publicly traded or quoted),
then the "Fair Market Value" of a Share shall be the fair market
value (I.E., the price at which a willing seller would sell a
Share to a willing buyer when neither is acting under compulsion
and when both have reasonable knowledge of all relevant facts) of
a share of the Common Stock on the business day immediately
preceding such date as the Committee in its sole and absolute
discretion shall determine in a fair and uniform manner.

     (l)  "Family Member" shall mean any child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former
spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-
in-law, daughter-in-law, brother-in-law, or sister-in-law,
including adoptive relationships, any person sharing the
Grantee's household (other than a tenant of Grantee), a trust in
which these persons have more than 50% of the beneficial
interest, a foundation in which these persons (or the Grantee)
control the management of assets, and any other entity in which
these persons (or the Grantee) own more than 50% of the voting
interests.

     (m)  "Grantee" shall mean a person to whom an Option or
Shares are granted under this Plan, or any person who succeeds to
the rights of such person under this Plan by reason of the death
of such person.

     (n)  "Incentive Stock Option" shall mean an incentive stock
option as defined in Section 422 of the Code.

     (o)  "Non-Employee Directors" shall have the meaning set
forth in Rule 16b-3(b)(3)(i) under the Securities Exchange Act.

     (p)  "Non-Statutory Stock Option" or "Nonqualified Stock
Option" shall mean an Option which is not an Incentive Stock
Option.

     (q)  "Officer" shall mean the Company's chairman, president,
principal financial officer, principal accounting officer (or, if
there is no such accounting officer, the controller), any vice
president of the Company in charge of a principal business unit,
division or function (such as sales, administration or finance),
any other officer who performs a policy-making function, or any
other person who performs similar policy-making functions for the
Company. Officers of Subsidiaries shall be deemed Officers of the
Company if they perform such policy-making functions for the
Company. As used in this paragraph, the phrase "policy-making
function" does not include policy-making functions that are not
significant. Unless specified otherwise in a resolution by the
Board, an "executive officer" pursuant to Item 401(b) of
Regulation S-K (17 C.F.R. "229.401(b)) shall be only such a
person designated as an "Officer" pursuant to the foregoing
provisions of this paragraph.

     (r)  "Option" (when capitalized) shall mean any stock option
granted under this Plan.

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     (s)  "Plan" shall mean this 2007 Stock Option and Stock
Award Plan of the Company, which Plan shall be effective upon
approval by the Board, subject to approval within 12 months of
the date thereof by the shareholders of the Company.

     (t)  "Securities Act" shall mean the Securities Act of 1933,
as amended.

     (u)  "Securities Exchange Act" shall mean the Securities
Exchange Act of 1934, as amended.

     (v)  "Share" or "Shares" shall mean a share or shares, as
the case may be, of the Common Stock, as adjusted in accordance
with Section B.7 of this Plan.

     (w)  "Subsidiary" shall mean any corporation (other than the
Company) in any unbroken chain of corporations beginning with the
Company if, at the time of the granting of the Option, each of
the corporations other than the last corporation in the unbroken
chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other
corporations in such chain.

     (x)  "10% Shareholder" shall mean any person owning directly
or indirectly (through attribution under Section 424(d) of the
Code) at the Effective Date of Grant, capital stock possessing
more than 10% of the total combined voting power of all classes
of the capital stock of the Company (or a Subsidiary) at the
Effective Date of Grant.

4.   SHARES AND OPTIONS AVAILABLE UNDER PLAN. Subject to
adjustment in accordance with Section B.7 hereof, the Company may
grant to Grantees from time to time (a) Options to purchase
Shares of the Company's Common Stock or (b) Shares of the
Company's Common Stock, up to an aggregate of Three Million
(3,000,000) Shares from the authorized but unissued Shares of the
Company.

B.   PROVISIONS RELATING TO GRANT OF OPTIONS.

1.   LIMITATIONS. An Option granted hereunder shall be either an
Incentive Stock Option or a Non-Statutory Stock Option as
determined by the Committee at the time of grant of such Option
and shall clearly state whether it is an Incentive Stock Option
or Non-Statutory Stock Option. All Incentive Stock Options shall
be granted within 10 years from the effective date of this Plan.
An Incentive Stock Option shall not be granted to any 10%
Shareholder unless (a) the exercise price of such Option is at
least 110% of the Fair Market Value of the Shares subject to such
Option on the Effective Date of Grant and (b) such Option by its
terms is not exercisable after the expiration of five years from
the Effective Date of Grant. Options otherwise qualifying as
Incentive Stock Options hereunder will not be treated as
Incentive Stock Options to the extent that the aggregate Fair
Market Value (determined at the time the Option is granted) of
the Shares, with respect to which Options meeting the
requirements of Code Section 422(b) are exercisable for the first
time by any individual during any calendar year (under all stock
option or similar plans of the Company and any Subsidiary),
exceeds $100,000.

2.   CONDITIONS FOR GRANT OF OPTIONS.

     (a)  Each Option shall be evidenced by an Option agreement
that may contain any term deemed necessary or desirable by the
Committee, provided such terms are not inconsistent with this
Plan or any applicable law. Grantees shall be those persons
selected by the Committee from the class of all Employees of the
Company or its Subsidiaries, including Employee Directors and
Officers who are regular or former regular employees of the
Company, Directors who are not regular employees of the Company,
as well as consultants, advisors and independent contractors to
the Company; provided, however, that Incentive Stock Options may
only be granted to Employees who satisfy Section A.3(j) of the
Plan. Any person who files with the Committee, in a form
satisfactory to the Committee, a written waiver of eligibility to

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receive any Option under this Plan shall not be eligible to
receive any Option under this Plan for the duration of such
waiver.

     (b)  In granting Options, the Committee shall take into
consideration the contribution the person has made, or is
expected to make, to the success of the Company or its
Subsidiaries and such other factors as the Committee shall
determine. The Committee shall also have the authority to consult
with and receive recommendations from Officers and other
personnel of the Company and its Subsidiaries with regard to
these matters. The Committee may from time to time in granting
Options under this Plan prescribe such terms and conditions
concerning such Options as it deems appropriate, including,
without limitation, (i) the exercise price or prices of the
Option or any installments thereof, (ii) prescribing the date or
dates on which the Option becomes and/or remains exercisable,
(iii) providing that the Option vests or becomes exercisable in
installments over a period of time, and/or upon the attainment of
certain stated standards, specifications or goals, (iv) relating
an Option to the continued employment of the Grantee for a
specified period of time, or (v) conditions or termination events
with respect to the exercisability of any Option, provided that
such terms and conditions are not more favorable to a Grantee
than those expressly permitted herein.

3.   EXERCISE PRICE. The exercise price per Share of any Option
shall be any price determined by the Committee but shall not be
less than the par value per Share; provided, however, that in no
event shall the exercise price per Share of any Incentive Stock
Option be less than the Fair Market Value of the Shares
underlying such Option on the date such Option is granted and, in
the case of an Incentive Stock Option granted to a 10%
Shareholder, the per Share exercise price will not be less than
110% of the Fair Market Value in accordance with Section B.1 of
this Plan. Re-granted Options, or Options that are canceled and
then re-granted covering such canceled Options, will, for
purposes of this Section B.3, be deemed to have been granted on
the date of the re-granting.

4.   EXERCISE OF OPTIONS.

     (a)  An Option shall be deemed exercised when (i) the
Company has received written notice of such exercise in
accordance with the terms of the Option, (ii) full payment of the
aggregate option price of the Shares as to which the Option is
exercised has been made, (iii) the Grantee has agreed to be bound
by the terms, provisions and conditions of any applicable
shareholders' agreement or any other agreement or condition
imposed by the Committee in connection with the grant of the
Option, and (iv) arrangements that are satisfactory to the
Committee, in its sole discretion, have been made for the
Grantee's payment to the Company of the amount that is necessary
for the Company or the Subsidiary employing the Grantee to
withhold in accordance with applicable federal or state tax
withholding requirements. Unless further limited by the Committee
in any Option, the exercise price of any Shares purchased
pursuant to the exercise of such Option shall be paid in cash, by
certified or official bank check, by money order, with Shares or
by a combination of the above; provided, however, that the
Committee, in its sole discretion, may accept a personal check in
full or partial payment of any Shares. If the exercise price is
paid in whole or in part with Shares, the value of the Shares
surrendered shall be their Fair Market Value on the date the
Option is exercised.

     (b)  No Grantee shall be deemed to be a holder of any Shares
subject to an Option unless and until a stock certificate or
certificates for such Shares are issued to such person(s) under
the terms of this Plan. No adjustment shall be made for dividends
(ordinary or extraordinary, whether in cash, securities or other
property) or distributions or other rights for which the record
date is prior to the date such stock certificate is issued,
except as expressly provided in Section B.7 hereof.

5.   EXERCISABILITY OF OPTIONS. Any Option shall become
exercisable in such amounts, at such intervals, upon such events
or occurrences and upon such other terms and conditions as shall

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be provided in an individual Option agreement evidencing such
Option, except as otherwise provided in Section B.2 or this
Section B.5.

     (a)  The expiration date(s) of an Option shall be determined
by the Committee at the time of grant, but in no event shall an
Option be exercisable after the expiration of 10 years from the
date of grant of the Option.

     (b)  Unless otherwise expressly provided in any Option as
approved by the Committee, notwithstanding the exercise schedule
set forth in any Option, each outstanding Option, may, in the
sole discretion of the Committee, become fully exercisable upon
the date of the occurrence of any Change of Control, but, unless
otherwise expressly provided in any Option, no earlier than six
months after the date of grant, and if and only if Grantee is in
the employ of the Company on such date.

     (c)  The Committee may in its sole discretion accelerate the
date on which any Option may be exercised and may accelerate the
vesting of any Shares subject to any Option or previously
acquired by the exercise of any Option.

6.   TERMINATION OF OPTION PERIOD.

     (a)  Unless otherwise expressly provided in any Option, the
unexercised portion of any Option shall automatically and without
notice immediately terminate and become forfeited, null and void
at the time of the earliest to occur of the following:

          (i)  two months after the date on which the Grantee's
employment is terminated for any reason OTHER THAN by reason of
(A) Cause, (B) the termination of the Grantee's employment with
the Company by such Grantee following less than 30 days' prior
written notice to the Company of such termination (an "Improper
Termination"), (C) a mental or physical disability (within the
meaning of Section 22(e) of the Code) as determined by a medical
doctor satisfactory to the Committee, or (D) death;

          (ii) immediately upon (A) the termination by the
Company of the Grantee's employment or engagement for Cause, or
(B) an Improper Termination;

          (iii)     one year after the date on which the
Grantee's employment is terminated by reason of a mental or
physical disability (within the meaning of Code Section 22(e)) as
determined by a medical doctor satisfactory to the Committee; or

          (iv) the later of (A) one year after the date of
termination of the Grantee's employment by reason of death of the
Employee, or (B) two months after the date on which the Grantee
shall die if such death shall occur during the one-year period
specified in Section B.6(a)(iii) hereof.

     (b)  The Committee in its sole discretion may, by giving
written notice (the "Cancellation Notice"), cancel effective upon
the date of the consummation of any corporate transaction
described in Section B.7(d) hereof, any Option that remains
unexercised on such date. The Cancellation Notice shall be given
a reasonable period of time prior to the proposed date of such
cancellation and may be given either before or after approval of
such corporate transaction.

     (c)  Upon the Grantee's termination of employment as
described in this Section, or otherwise, any Option (or portion
thereof) not previously vested or not yet exercisable pursuant to
Section B.5 of this Plan or the vesting schedule set forth in the
Option agreement evidencing the Option shall be immediately
cancelled.

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7.   ADJUSTMENT OF SHARES.

     (a)  If at any time while this Plan is in effect or
unexercised Options are outstanding, there shall be any increase
or decrease in the number of issued and outstanding Shares
through the declaration of a stock dividend or through any
recapitalization resulting in a stock split, combination or
exchange of Shares (other than any such exchange or issuance of
Shares through which Shares are issued to effect an acquisition
of another business or entity or the Company's purchase of Shares
pursuant to a plan of repurchase approved by the Board or to
exercise a "call" purchase option including, without limitation,
an Option issued and/or exercised pursuant to the Plan), then and
in such event:

          (i)  appropriate adjustment shall be made in the
maximum number of Shares available for grant under this Plan, so
that the same percentage of the Company's issued and outstanding
Shares shall continue to be subject to being so optioned;

          (ii) appropriate adjustment shall be made in the number
of Shares and the exercise price per Share thereof then subject
to any outstanding Option, so that the same percentage of the
Company's issued and outstanding Shares shall remain subject to
purchase at the same aggregate exercise price; and

          (iii)     such adjustments shall be made by the
Committee, whose determination in that respect shall be final,
binding and conclusive.

     (b)  Subject to the specific terms of any Option, the
Committee may change the terms of Options outstanding under this
Plan, with respect to the Option price or the number of Shares
subject to the Options, or both, when, in the Committee's sole
discretion, such adjustments become appropriate by reason of a
corporate transaction described in Section B.7(d) hereof, or
otherwise.

     (c)  Except as otherwise expressly provided herein, the
issuance by the Company of shares of its capital stock of any
class, or securities convertible  into or exchangeable for shares
of its capital stock of any class, either in connection with a
direct or underwritten sale or upon the exercise of rights or
warrants to subscribe therefor or purchase such Shares, or upon
conversion of shares or obligations of the Company convertible
into such shares or other securities, shall not affect, and no
adjustment by reason thereof shall be made with respect to the
number of or exercise price of Shares then subject to outstanding
Options granted under this Plan.

     (d)  Without limiting the generality of the foregoing, the
existence of outstanding Options granted under this Plan shall
not affect in any manner the right or power of the Company to
make, authorize or consummate (i) any or all adjustments,
reclassifications, recapitalizations, reorganizations or other
changes in the Company's capital structure or its business; (ii)
any merger or consolidation of the Company or to which the
Company is a party; (iii) any issuance by the Company of debt
securities, or preferred or preference stock that would rank
senior to or above the Shares subject to outstanding Options;
(iv) any purchase or issuance by the Company of Shares or other
classes of common stock or common equity securities; (v) the
dissolution or liquidation of the Company; (vi) any sale,
transfer, encumbrance, pledge or assignment of all or any part of
the assets or business of the Company; or (vii) any other
corporate act or proceeding, whether of a similar character or
otherwise.

     (e)  The Grantee shall receive written notice within a
reasonable time prior to the consummation of such action advising
the Grantee of any of the foregoing. The Committee may, in the
exercise of its sole discretion, in such instances declare that
any Option shall terminate as of a date fixed by the Board and
give each Grantee the right to exercise his or her Option.

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8.   TRANSFERABILITY OF OPTIONS. Unless otherwise authorized by
the Board, no Option granted hereunder shall be sold, pledged,
assigned, hypothecated, disposed or otherwise transferred by the
Grantee other than by (a) will or the laws of descent and
distribution, (b) by gift to a Family Member, or (c) through a
domestic relations order in settlement of marital property
rights. No Option shall be exercisable during the Grantee's
lifetime by any person other than the Grantee or certain
transferees expressly permitted under this Section.

9.   LAPSE OF OPTIONS. If any Option granted under this Plan
shall terminate, expire, or be canceled, forfeited or surrendered
as to any Shares, the Shares relating to such lapsed Option shall
be available for issuance pursuant to new Options subsequently
granted under this Plan. Upon the grant of any Option hereunder,
the authorized and unissued Shares to which such Option relates
shall be reserved for issuance to permit exercise under this
Plan.

C.   PROVISIONS RELATING TO GRANT OF SHARES.

1.   GRANT OF SHARES. Shares shall be granted on such terms as
are established, from time to time, by the Committee. The grant
of Shares to a Grantee, and the terms thereof, shall be
communicated to a Grantee, in writing and shall set forth the
number of Shares; the Fair Market Value of the Shares granted; if
applicable, the compensation or other amounts otherwise due to
the Grantee that will be extinguished in exchange for such
Shares; and such other terms as are established by the Committee.
Such notice shall also include the form of Notice of Acceptance
of such Shares.

2.   ACCEPTANCE OF SHARES A Grantee entitled to accept Shares in
lieu of cash salary or other compensation may do so, in whole or
in part, by delivering to the Chief Financial Officer of the
Company, at the Company's principal executive office, a written
Notice of Acceptance and Subscription Agreement in the form as
shall have been approved by the Committee. The written notice
shall specify the number of Shares that are being accepted.

3.   OWNERSHIP OF SHARES. The Company shall cause to be issued a
stock certificate representing the Shares in the name of the
Grantee upon final approval of the terms of the grant by the
Committee and, in the case of a Grantee accepting Shares in lieu
of cash salary or other compensation, upon the Company's receipt
of the properly completed Notice of Acceptance and Subscription
Agreement. Subject to the restrictions set forth in this Plan and
the Notice of Acceptance and Subscription Agreement, as
applicable, the Grantee shall become the owner of the Shares and
shall be treated as a shareholder of the Company entitled to all
of the rights of any other holder of the Company's Common Stock.

4.   TRANSFERABILITY OF SHARES. Shares may be accepted only by
the individual to whom they were offered or granted. Shares may
not be transferred except in compliance with applicable federal
and state securities laws.

5.   TERMINATION OF RIGHT TO ACCEPT SHARES. Except as otherwise
specifically provided in the grant of Shares by the Board, the
right to accept Shares shall terminate in the event that, on the
date 90 days after the Effective Date of Grant (or such lesser
period of time as is established by the Board and set forth in
the grant of Shares), the Shares evidenced by a particular grant
have not theretofore been accepted in full.

6.   TAX CONSEQUENCES. A Grantee who accepts Shares will
generally be deemed to have received ordinary income in an amount
equal to the value of the Shares on the date of such acceptance.
In addition, the Company will be required to withhold federal
income and payroll taxes from the sale of the Shares or from
other amounts due to the Grantee, if the Grantees chooses not
sell the Shares immediately. Grantees may also be subject to

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other applicable tax consequences associated with the acceptance
of Shares. Each Grantee shall be advised in writing to consult
his or her own tax advisor prior to exercising any rights under
the Plan.

D.   ISSUANCE OF SHARES; ADMINISTRATION OF PLAN; MISCELLANEOUS
     PROVISIONS.

1.   ISSUANCE OF SHARES. As a condition of any sale or issuance
of Shares upon exercise of any Option, the Committee may require
such agreements or undertakings, if any, as the Committee may
deem necessary or advisable to assure compliance with any
applicable law or regulation including, but not limited to, the
following:

     (a)  a representation and warranty by the Grantee to the
Company, at the time any Option is exercised, that he is
acquiring the Shares to be issued to him for investment and not
with a view to, or for sale in connection with, the distribution
of any such Shares;

     (b)  an agreement and undertaking to comply with all of the
terms, restrictions and provisions set forth in any then-
applicable shareholders' agreement relating to the Shares,
including, without limitation, any restrictions on
transferability, any rights of first refusal, or any option of
the Company to "call" or purchase such Shares under then
applicable agreements; or

     (c)  any restrictive legend or legends, to be reflected on
Share certificates, that are, in the discretion of the Committee,
necessary or appropriate to comply with the provisions of any
securities law or other restrictions applicable to the issuance
of the Shares.

2.   ADMINISTRATION OF THIS PLAN.

     (a)  This Plan shall be administered by a Committee, which
shall consist of not less than two Non-Employee Directors;
provided, however, if there are fewer than two Non-Employee
Directors, the Committee shall be composed of all of the members
of the Board. The Committee shall have all of the powers of the
Board with respect to this Plan. Any member of the Committee may
be removed at any time, with or without cause, by resolution of
the Board and any vacancy occurring in the membership of the
Committee may be filled by appointment by the Board.

     (b)  Subject to the provisions of this Plan, the Committee
shall have the authority, in its sole discretion, to: (i) grant
Options or Shares, (ii) determine the exercise price per Share at
which Options may be exercised, (iii) determine the Grantees to
whom, and time or times at which, Options or Shares shall be
granted, (iv) determine the number of Shares to be represented by
each Option, (v) determine the terms, conditions and provisions
of each Option or Share granted (which need not be identical)
and, with the consent of the holder thereof, modify or amend each
Option, (vi) defer (with the consent of the Grantee) or
accelerate the exercise date of any Option, and (vii) make all
other determinations deemed necessary or advisable for the
administration of this Plan, including repricing, canceling or
regranting Options or Shares.

     (c)  The Committee, from time to time, may adopt rules and
regulations for carrying out the purposes of this Plan. The
Committee's determinations and its interpretation and
construction of any provision of this Plan shall be final,
conclusive and binding upon all Grantees and any holders of any
Options or Shares granted under this Plan.

                              9
<PAGE>

     (d)  Any and all decisions or determinations of the
Committee shall be made either (i) by a majority vote of the
members of the Committee at a meeting of the Committee or (ii)
without a meeting by the unanimous written approval of the
members of the Committee.

     (e)  No member of the Committee, or any Officer or Director
of the Company or its Subsidiaries, shall be personally liable
for any act or omission made in good faith in connection with
this Plan.

3.   INTERPRETATION.

     (a)  This Plan shall be administered and interpreted so that
all Incentive Stock Options granted under this Plan will qualify
as Incentive Stock Options under Section 422 of the Code. If any
provision of this Plan should be held invalid for the granting of
Incentive Stock Options or illegal for any reason, such
determination shall not affect the remaining provisions hereof,
and this Plan shall be construed and enforced as if such
provision had never been included in this Plan.

     (b)  This Plan shall be governed by the laws of the State of
Florida.

     (c)  Headings contained in this Plan are for convenience
only and shall in no manner be construed as part of this Plan or
affect the meaning or interpretation of any part of this Plan.

     (d)  Any reference to the masculine, feminine, or neuter
gender shall be a reference to such other gender as is
appropriate.

     (e)  Time shall be of the essence with respect to all time
periods specified for the giving of notices to the Company
hereunder, as well as all time periods for the expiration and
termination of Options in accordance with Section B.6 hereof (or
as otherwise set forth in an Option agreement).

4.   QUALIFICATIONS UNDER ERISA. The Plan is not subject to any
of the provisions of the Employee Retirement Income Security Act
of 1974, as amended.

5.   AMENDMENT AND DISCONTINUATION OF THIS PLAN. Either the Board
or the Committee may from time to time amend this Plan or any
Option without the consent or approval of the shareholders of the
Company; provided, however, that, except to the extent provided
in Section B.6, no amendment or suspension of this Plan or any
Option issued hereunder shall substantially impair any Option
previously granted to any Grantee without the consent of such
Grantee.

6.   RIGHTS OF EMPLOYMENT. The Options and Shares granted to
Employees under this Plan shall be in addition to regular
salaries, pension, life insurance or other benefits related to
their employment with the Company or its Subsidiaries. Nothing in
this Plan or in any Option or other agreement entered into
pursuant to this Plan shall confer upon any Employee any right to
continued employment by the Company or a Subsidiary (or related
salary and benefits), nor shall it impair any right of the
Company or a Subsidiary to terminate such employment.

7.   TERMINATION DATE. This Plan shall terminate 10 years after
the date of adoption by the Board of Directors; provided,
however, that no such termination shall affect the validity of
Options granted hereunder in accordance with the terms of this
Plan, which Options expire after such termination date.

                              10
<PAGE>

[SPECIMEN FORM]

              CHINA RENEWABLE ENERGY HOLDINGS, INC.

                   Stock Option Agreement Form

THIS AGREEMENT is made as of  , 200_  between China Renewable
Energy Holdings, Inc., a Florida corporation (the "Company"), and
(the "Optionee").

     THE PARTIES AGREE AS FOLLOWS:

     1.  Option Grant. The Company hereby grants to the Optionee
an option (the "Option") to purchase the number of shares of the
Company's Common Stock (the "Shares"), for an exercise price per
share  (the "Option Price") and based upon a Grant Date, all  as
set forth below:

       Shares under option: ________ ("Shares")
       Option Price per Share: $_______________("Option Price")
       Grant Date: _______________, 200_("Grant Date")

The Option will be subject to all of the terms and conditions set
forth herein and in the Company's 2006 Equity Compensation Plan
(the "Option Plan"), a copy of which is attached hereto and
incorporated by reference. The Option granted hereunder will be a
[incentive/nonstatutory or nonqualified option for tax purposes].

     2.  Stockholder Rights.   No rights or privileges of a
stockholder in the Company are conferred by reason of the
granting of the Option.  Optionee will not become a stockholder
in the Company with respect to the Shares unless and until the
Option has been properly exercised and the Option Price fully
paid as to the portion of the Option exercised.

     3.Termination. Subject to earlier termination as provided
in the Option Plan, this Option will expire, unless previously
exercised in full, on  _________,  20__.

     4. Terms of the Option Plan.  The Optionee understands that
the Option Plan includes important terms and conditions that
apply to this Option.   Those terms include  (without
limitation): important conditions to the right of the Optionee to
exercise the Option; important restrictions on the ability of the
Optionee to transfer the Option or to transfer Shares received
upon exercise of the Option; and early termination of the Option
following the occurrence of certain events, including the
Optionee no longer being an officer, director, employee or
consultant to or of the Company or its subsidiaries. The optionee
acknowledges that he or she has read the option Plan, agrees to
be bound by its terms, and makes each of the representations
required to be made by the Optionee under it.

       5  Resale of Shares.  Optionee acknowledges that, unless
the Optionee has been advised by the Company that a current
registration statement is in effect covering the resale of the
Shares, the Shares have not been registered under the Securities
Act, and the Shares must be held by the Optionee indefinitely
unless subsequently registered under the Securities Act or an
exemption from such registration is available.  Optionee is aware
of the provision of Rule 144 promulgated under the Securities Act
that permits the limited resale of shares purchased in a private
placement subject to the satisfaction of certain conditions,
including, among other things, the satisfaction of having held
the Shares for a certain duration of time, the availability of
certain current public information about the Company, the sale
being through a "broker's transaction" (as provided by Rule
144(f)), and the volume of shares sold not exceeding specified
limitations (unless the sale is within the requirements of Rule
144(k)). Even if a registration statement is in effect, the
Optionee understands that Shares issued under the Plan to
affiliates are subject to certain limitations and restrictions on
resale. In the event the Shares are not registered, Optionee
understands that the Shares shall bear a restrictive legend
substantially similar to the following:

                              11
<PAGE>

     "THESE SECURITIES HAVE NOT BEEN REGISTERED OR QUALIFIED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") OR THE
SECURITIES LAWS OF ANY STATE.  THEY MAY NOT BE SOLD, OFFERED FOR
SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE
ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE
SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO
THE COMPANY TO THE EFFECT THAT SUCH REGISTRATION AND
QUALIFICATION UNDER THE ACT AND SUCH LAWS IS NOT REQUIRED"

     6    Miscellaneous. This Agreement (together with the Option
Plan) sets forth the complete agreement of the parties concerning
the subject matter hereof, superseding all prior agreements,
negotiations and understandings. This Agreement will be governed
by the substantive law of the State of Florida, and may be
executed in counterparts.

     The  parties hereby have entered into this Agreement  as  of
the date set forth above.

                         CHINA RENEWABLE ENERGY HOLDINGS, INC.

                         By __________________________
                            An Authorized Officer

                         OPTIONEE

                         _______________________________________

Attachments:
Exhibit A Spousal Consent
Exhibit B 2007 Stock Option and Stock Award Plan

                              12
<PAGE>

                            EXHIBIT A
                         SPOUSAL CONSENT

     The  undersigned is the spouse of the Optionee referred  to
in the attached China Renewable Energy Holdings, Inc. 2007 Stock
Option  and  Stock  Award Plan Agreement (the "Agreement").  The
undersigned acknowledges that he or she:

     1.   has received,  reviewed and understands the terms of the
     Agreement (including its attachments);

     2.   consents to the Agreement, and agrees to be bound by its
     terms to the extent that he or she now has or may obtain any
     interest in the Option or Shares covered by the Agreement; and

     3. understands that the Company is relying upon this
     consent in entering into the Agreement and in not taking
     further steps to protect its interests.

Date:        , 200_
                              ______________________________
                              Print Name

                              13
<PAGE>

                            EXHIBIT B

2007 Stock Option and Stock Award Plan

                              14
<PAGE>[Exhibit 10.2]

                 CAPITAL VENTURES GROUP IV, INC.
               CODE OF BUSINESS CONDUCT AND ETHICS

Introduction

     This Code of Business Conduct and Ethics ("Code of Ethics")
covers a wide range of business practices and procedures.  It
does not cover every issue that may arise but it sets out basic
principles to guide all employees of Capital Ventures Group IV,
Inc. (the "Company").  All of our officers, directors and
employees must conduct themselves accordingly and seek to avoid
even the appearance of improper behavior.  The code should also
be provided to and followed by the Company's agents and
representatives, including consultants.

     If a law conflicts with a policy in this Code, you must
comply with the law.  If you have any questions about these
conflicts, you should ask your supervisor how to handle the
situation.

     Those who violate standards in this Code will be subject to
disciplinary action, up to and including termination of
employment.  If you are in a situation that you believe may
violate or lead to a violation of this Code, follow the
guidelines described in Section 14 of this Code.

1.   Compliance with Laws, Rules and Regulations

     Obey the law, both in letter and in spirit, is the
foundation on which our ethical standards are built.  All
employees must respect and obey the laws of the cities, states
and countries in which we operate.  Although not all employees
are expected to know the details of these laws, it is important
to know enough about them to determine when to seek advice from
supervisors, managers or other appropriate personnel.

2.   Conflicts of Interest

     A "conflict of interest" exists when a person's private
interests interferes in any way with the interests of the
Company.  A conflict situation can arise when an employee,
officer or director takes actions or has interests that may make
it difficult to perform his or her Company work objectively and
efficiently.  Conflicts of interest may also arise when an
employee, officer or director, or members of his or her family,
receives improper personal benefits as a result of his or her
position in the Company.  Loans to, or guarantees of obligations
of, employees and their family members may create conflicts of
interest.

     It is almost always a conflict of interest for a Company
employee to work simultaneously for a competitor, customer or
supplier.  You are not allowed to work for a competitor as a
consultant or board member.   The best policy is to avoid any
direct or indirect business connection with our customers,
suppliers or competitors, except on our behalf.  Conflicts of
interest are prohibited as a matter of Company policy, except
under guidelines approved by our Board of Directors.  Conflicts
of interest may not always be clear-cut, so if you have a
question, you should consult with higher levels of management.
Any employee, officer or director who becomes aware of a conflict
or potential conflict should bring it to the attention of a
supervisor, manager or other appropriate personnel or consult

<PAGE>

with the procedures described in Section 14 of this Code.

3.   Insider Trading

     Employees who have access to confidential information are
not permitted to use or share that information for stock trading
purposes or for any other purpose except the conduct of our
business.  All non-public information about the Company should be
considered confidential information.  To use non-public
information for persona financial benefit or to "tip" others who
might make an investment decision on the basis of this
information is not only unethical but also illegal.

4.   Corporate Opportunities

     Employees, officer and directors are prohibited from taking
for themselves personally, opportunities that are discovered
through the use of corporate property, information or position
without the consent of the Board of Directors.  No employee may
use corporate property, information or position for improper
personal gain, and no employee may compete with the Company,
directly or indirectly.

5.   Competition and Fair Dealing

     We seek to outperform our competition fairly and honestly.
Stealing proprietary information, possessing trade secret
information that was obtained without the owner's consent, or
inducing such disclosures by past or present employees of other
companies is prohibited.  Each officer, director and employee
should respect the rights of and deal fairly with the Company's
customers, suppliers, competitors and employees.  No employee
should take unfair advantage of anyone through manipulation,
concealment, abuse of privileged information, misrepresentation
of material facts, or any other intentional unfair-dealing
practice.

     The purpose of business entertainment and gifts in a
commercial setting is to create good will and sound working
relationships, not to gain unfair advantage with customers.  No
gift, or entertainment should ever be offered, given, provided or
accepted by any Company employee, family member of an employee or
agent, unless it (a) is not in cash, (b) is consistent with
customary business practices, (c) is not excessive in value, (d)
cannot be construed as a bribe or payoff and (e) does not violate
any laws or regulations.   Please discuss with your supervisor
any gifts or proposed gifts that you are not certain are
appropriate.

6.   Discrimination and Harassment

     The diversity of the Company's employees is a tremendous
asset.  We are firmly committed to providing equal opportunity in
all respects aspects of employment and will not tolerate illegal
discrimination or harassment of any kind.  Examples include
derogatory comments based on racial or ethnic characteristics and
unwelcome sexual advances.

                                2
<PAGE>

7.   Health and Safety

     The Company strives to provide each employee with a safe and
healthy work environment.  Each employee has responsibility for
maintaining a safe and healthy workplace for all employees by
following safety and health rules and practices and reporting
accidents, injuries and unsafe equipment, practices or
conditions.

     Violence and threatening behavior are not permitted.
Employees should report to work in condition to perform their
duties, free from the influence of illegal drugs or alcohol.  The
use of alcohol and/or illegal drugs in the workplace will not be
tolerated.

8.   Record-Keeping

     The Company requires honest and accurate recording and
reporting of information in order to make responsible business
decisions.  For example, only the true and actual number of hours
worked should be reported.

     Many employees regularly use business expense accounts,
which must be documented and recorded accurately.  If you are not
sure whether a certain expense is legitimate, ask your supervisor
or the Company's controller or chief financial officer.

     All of the Company's books, records, accounts and financial
statements must be maintained in reasonable detail, must
appropriately reflect the Company's transactions and must conform
to both applicable legal requirements and to the Company's
systems of accounting and internal controls.  Unrecorded or "off
the books" funds or assets should not be maintained unless
permitted by applicable laws or regulations.

     Business records and communications often become public, and
we should avoid exaggeration, derogatory remarks, guesswork or
inappropriate characterizations of people and companies that can
be misunderstood.  This applies equally to e-mail, internal memos
and formal reports.  Records should always be retained or
destroyed according to the Company's record retention policies.
In accordance with these policies, in the event of litigation or
governmental investigation please consultant your supervisor.
All e-mail communications are the property of the Company and
employees, officers and directors should not expect that Company
or personal e-mail communications are private.  All e-mails are
the property of the Company.  No employee, officer or director
shall use Company computers, including to access the internet,
for personal or non-Company business.

9.   Confidentiality

     Employees must maintain the confidentiality of confidential
information entrusted to them by the Company or its customers,
except when disclosure is required by laws or regulations.
Confidential information includes all non-public information that
might be of use to competitors, or harmful to the Company or its
customers, if disclosed.  It also includes information that
suppliers and customers have entrusted to us.  The obligation to
preserve confidential information continues even after employment
ends.  In connection with this obligation, employees, officers
and directors may be required to execute confidentiality

                                3
<PAGE>

agreements confirming their agreement to be bound not to disclose
confidential information.    If you are uncertain whether
particular information is confidential or non-public, please
consult your supervisor.

10.  Protection and Proper Use of Company Assets

     All officers, directors and employees should endeavor to
protect the Company's assets and ensure their efficient use.
Theft, carelessness and waste have a direct impact on the
Company's profitability.  Any suspected incident of fraud or
theft should be immediately reported for investigation.  Company
equipment should not be used for non-Company business.

     The obligation of officers, directors and employees to
protect the Company's assets includes it proprietary information.
Proprietary information includes intellectual property such as
trade secrets, patents, trademarks and copyrights, as well as
business, marketing and service plans, engineering and
manufacturing ideas, designs, databases, records, salary
information and any unpublished financial data and reports.
Unauthorized use or distribution of this information would
violate Company policy.  It could also be illegal and result in
civil or even criminal penalties.

11.  Payments to Government Personnel

     The United States Foreign Corrupt Practices Act prohibits
giving anything of value, directly or indirectly, to officials of
foreign governments or foreign political candidates in order to
obtain or retain business.  It is strictly prohibited to make
illegal payments to government officials of any country.

     In addition, the U. S. government has a number of laws and
regulations regarding business gratuities that may be accepted by
U. S. government personnel.  The promise, offer or delivery to an
official or employee of the U. S. government of a gist, favor or
other gratuity in violation of these rules would not only violate
Company policy, but could also be a criminal offense.  State and
local governments, as well as foreign governments, may have
similar rules.

12.  Waivers of the Code of Business Conduct and Ethics

     Any waiver of the provisions of this Code may be made only
by the Board of Directors and will be promptly disclosed as
required by law or stock exchange rule or regulation.

13.  Reporting any Illegal or Unethical Behavior

     Employees are encouraged to talk with supervisors, managers
or Company officials about observed illegal or unethical
behavior, and when in doubt about the best course of action in a
particular situation.  It is the Company's policy not to allow
retaliation for reports of misconduct by others made in good
faith by employees.  Employees are expected to cooperate in
internal investigations of misconduct, and the failure to do so
could serve as grounds for termination.  Any employee may submit
a good faith concern regarding questionable accounting or
auditing matters without fear of dismissal or retaliation of any
kind.

                                4
<PAGE>

14.  Compliance Procedures

     We must all work to ensure prompt and consistent action
against violations of this Code.  However, in some situations, it
is difficult to know if a violation has occurred.  Since we
cannot anticipate every situation that may arise, it is important
that we have a way to approach a new question or problem.  These
are steps to keep in mind:

       *  Make sure you have all the facts.  In order to reach the
          --------------------------------
          rights solutions, we must be as fully informed as possible.

       *  Ask yourself, what specifically am I being asked to do -
          --------------------------------------------------------
          does it seem unethical or improper?  This will enable you to
          -----------------------------------
          focus on the specific question you are faced with, and the
          alternatives you have.  Use your judgment and common sense; if
          something seems unethical or improper, it probably is.

       *  Clarify your responsibility and role.  In most situations,
          -------------------------------------
          there is shared responsibility.  Are your colleagues informed?
          It may help to get others involved and discuss the problem.

       *  Discuss the problem with your supervisor.  This is the basic
          -----------------------------------------
          guidance for all situations.  In many cases, your supervisor will
          be more knowledgeable about the question, and will appreciate
          being brought into the decision-making process.  Keep in mind
          that it is your supervisor's responsibility to help solve
          problems.  If your supervisor does not or cannot remedy the
          situation, or you are uncomfortable binging the problem to the
          attention of your supervisor, bring the issue to the attention of
          the human resources supervisor, or to an officer of the Company.

       *  You may report ethical violations in confidence and without
          -----------------------------------------------------------
          fear of retaliation.  If your situation requires that your
          -------------------
          identity be kept secret, your anonymity will be protected.  The
          Company does not permit retaliation of any kind for good faith
          reports of ethical violations.

       *  Always ask first - act later.  If you are unsure of what to
          -----------------------------
          do in any situation, seek guidance before your act.

                                5
<PAGE>

             CODE OF BUSINESS CONDUCT AND ETHICS FOR THE
        CHIEF EXECUTIVE OFFICER AND SENIOR FINANCIAL OFFICERS
                OF CAPITAL VENTURES GROUP IV, INC.

     Capital Ventures Group IV, Inc. (the "Company") has a Code
of Business Conduct and Ethics applicable to all employees,
officers and directors of the Company.  The Chief Executive
Officer (CEO) and senior financial officers of the Company,
including its chief financial officer and principal accounting
officer, are bound by the provisions set forth therein relating
to ethical conduct, conflicts of interest and compliance with
law.  In addition to the Code of Business Conduct and Ethics, the
CEO and senior financial officers of the Company will also be
subject to the following specific policies at such time as the
Company is subject to the reporting requirements under the
Securities Exchange Act of 1934, as amended:

     1.   The CEO and senior financial officers are responsible
for full, fair, accurate, timely and understandable disclosure in
the periodic reports and other filings required to be made by the
Company with the Securities and Exchange Commission.
Accordingly, it is the responsibility of the CEO and each senior
financial officer promptly to bring to the attention of the Board
of Directors any material information of which he or she may
become aware that affects the disclosures made by the Company in
its public filings or otherwise impairs the ability of the
Company to make full, fair, accurate, timely and understandable
public disclosures.

     2.   The CEO and each senior financial officer shall
promptly bring to the attention of the Company's Audit Committee,
if any, or if not then to the Board of Directors, any information
he or she may have concerning (a) significant deficiencies in the
design or operation of internal controls which could adversely
affect the Company's ability to record, process, summarize and
report financial data or (b) any fraud, whether or not material,
that involves management or other employees who have a
significant role in the Company's financial reporting,
disclosures or internal controls.

     3.   The CEO and each senior financial officer shall
promptly bring to the attention of the Board of Directors and the
Audit Committee, if any, any information he or she may have
concerning any violation of the Company's Code of Business
Conduct and Ethics, including any actual or apparent conflicts of
interest between personal and processional relationships,
involving management or other employees who have a significant
rule in the Company's financial reporting, disclosures or
internal controls.

     4.   The CEO and each senior financial officer shall
promptly bring to the attention of the Board of Directors and
Audit Committee, if any, any information he or she may have
concerning evidence of a material violation of the securities or
other laws, rules or regulations applicable to the Company and
the operation of its business, by the Company or any agent
thereof, or of violation of the Code of Business Conduct and
Ethics or of these additional procedures.

     5.   The Board of Directors shall determine, or designate
appropriate persons to determine, appropriate actions to be taken
in the event of violations of the Code of Business Conduct and
Ethics of these additional procedures by the CEO and the

                                1
<PAGE>

Company's senior financial officers.  Such actions shall be
reasonably designed to deter wrongdoing and to promote
accountability for adherence to the Code of Business Conduct and
Ethics and to these additional procedures, and shall include
written notices to the individual involved that the Board has
determined that there has been a violation, censure by the Board,
demotion or reassignment of the individual involved, suspension
with or without pay or benefits (as determined by the Board) and
termination of the individual's employment.  In determining what
action is appropriate in a particular case, the Board of
Directors or such designee shall take into account all relevant
information, including the nature and severity of the violation,
whether the violation was a single occurrence or repeated
occurrences, whether the violation appears to have been
intentional or inadvertent, whether the individual in question
had been advised prior to the violation as to the proper course
of action and whether or not the individual in question had
committed other violations in the past.

                                2
<PAGE>

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