Document:

Unassociated Document

     

    
       

      Exhibit
        10.1

      

      EXECUTIVE
        EMPLOYMENT AGREEMENT 

       
        

      This
        EXECUTIVE EMPLOYMENT AGREEMENT, dated effective as of July 1, 2008 (the “
Effective
        Date ”)
        is
        between China Water Group Inc., a Nevada corporation (the “ Company
        ”),
        and
        Ren Cai Ding (“ Executive
        ”).
        

       

      AGREEMENTS
        

       
        

      1.
        Employment 

       
        

      The
        Company will employ Executive and Executive will accept employment by the
        Company as Chief Financial Officer. Executive shall report to the Chief
        Executive Officer (“ CEO
        ”),
        and
        shall have such responsibilities assigned, from time to time, by the CEO,
        which
        relate to the business of the Company, or any business ventures in which
        the
        Company may participate. 

       
        

      2.
        Attention and Effort 

       
        

      Executive
        shall devote his entire productive time, ability, attention and effort to
        the
        Company’s business and shall skillfully serve its interests during the term of
        this Agreement. 

       
        

      3.
        Term 

       
        

      Unless
        earlier terminated with appropriate notice of termination, the initial term
        of
        this Agreement shall be from the date hereof until December 31, 2009;
provided
        ,
        however
        ,
        that,
        unless terminated with appropriate notice, on each January 1 following the
        date of this Agreement, beginning with January 1, 2010, this Agreement
        shall be automatically renewed for successive one-year terms. 

       
        

      4.
        Compensation 

       
        

      During
        the term of this Agreement, the Company shall pay or cause to be paid to
        Executive, and Executive shall accept in exchange for the services rendered
        hereunder by him, an annual base salary of US$40,000 before all customary
        payroll deductions (the “ Base
        Salary ”).
        The
        Base Salary shall be paid to Executive in substantially equal installments
        at
        the same intervals as other executive of the Company are paid. At the end
        of
        each year of employment (or sooner if determined by the Board), Executive’s Base
        Salary shall be reviewed by the CEO in its sole discretion. 

       
        

      Executive’s
        eligibility for a performance bonus shall be based on the overall performance
        of
        the Company. The actual amount of any bonus payable to Executive shall be
        determined by the CEO. 

       
        

      5.
        Termination 

       
        

      The
        Company may terminate the employment of Executive upon giving a written notice
        of termination (“Notice of Termination”), which notice shall be effective thirty
        (30) days later. This Agreement shall terminate upon the effective date
        specified in such Notice of Termination. 

       

      Executive
        may terminate this Agreement upon thirty (30) days’ prior written notice in
        the form of a Notice of Termination, and this Agreement shall terminate upon
        the
        effective date specified in such Notice of Termination. Notwithstanding the
        preceding sentence, the Company shall have the right to accelerate Executive’s
        termination of employment to be effective on the date that the Notice of
        Termination is received by the Company, or any date of the Company’s choosing
        between that date and the effective date specified in the Notice of Termination.
        

       
        

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      This
        Agreement and Executive’s employment shall terminate automatically upon
        Executive’s death or Executive’s inability, for any reason, to perform his
        duties with the Company for 120 days in any twelve (12) month period.

       
        

      Notwithstanding
        any termination or expiration of this Agreement, the Company shall remain
        liable
        for any rights or payments arising prior to such event to which Executive
        is
        entitled under this Agreement. 

       
        

      6.
        Miscellaneous 

       
        

      This
        Agreement may not be amended except by written agreement between Executive
        and
        the CEO. 

       
        

      All
        payments and benefits to which Executive is entitled under this Agreement
        shall
        be made and provided without offset, deduction or mitigation on account of
        income Executive could or may receive from other employment or otherwise.
        

       
        

      This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        Republic of China applicable to contracts made and to be performed there.
        

       
        

      The
        Company and Executive have executed this Agreement at Guangzhou as of the
        Effective Date. 

       

       

      
        	 	 	 
	 	China
                Evergreen
                Environmental Corp.
	 
 	 
 	 
 
	 	By:  	/s/
                Chong Liang Pu 
	 	
                
Chong
                Liang Pu
	 	Chief
                Executive Officer 

      

       

       

      
        	 	 	 
	 	EXECUTIVE
	 
 	 
 	 
 
	 	By:  	/s/
                Ren
                Cai Ding 
	 	
                
Ren
                Cai DingExhibit
      4.1

    

    COMMON
      STOCK PURCHASE AGREEMENT

    

    AGREEMENT
      entered
      into as of the 27 day of June, 2008, by and between PLASTRON ACQUISITION CORP.
      I, a Delaware corporation with an address at c/o
      Clifford W. Chapman, Jr., 712 Fifth Avenue, New York, New York 10019
      (the
“Company”) and the purchasers listed on Schedule
      I
      annexed
      hereto (each a “Purchaser” and collectively the “Purchasers”).

    

    WHEREAS,
      the Purchasers desire to purchase, and the Company desires to sell, an aggregate
      of 259,480 shares (the “Shares”) of the Company’s common stock, par value
      $0.0001 per share (the “Common Stock”), allocated among the Purchasers as set
      forth on Schedule
      I
      annexed
      hereto, and upon the terms and conditions hereof.

    

    NOW,
      THEREFORE, in consideration of the premises and the mutual agreements herein
      contained, the Purchaser and the Company hereby agree as follows:

    

    SECTION
      1: SALE OF THE SHARES; REDEMPTION; PUT RIGHT

    

    1.1 Sale
      of the Shares.
      Subject
      to the terms and conditions hereof, the Company will sell and deliver to the
      Purchaser and the Purchasers will purchase from the Company, upon the execution
      and delivery hereof, an aggregate of 259,480 shares of Common Stock for an
      aggregate purchase price of $13,000 (the “Purchase Price”). The allocation of
      the Shares and the Purchase among the Purchasers shall be as set forth on
Schedule
      I
      annexed
      hereto.

    

    1.2 Redemption.
      The
      Company, as of the date of this Agreement, is a
      shell
      company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as
      amended) (“Shell Company”) and has checked the applicable box on the cover page
      of its Quarterly Report on Form 10-Q for the quarterly period ended March 31,
      2008, identifying itself as a Shell Company. In the event that the Company
      does
      not cease to be a Shell Company on or before December 1, 2008, then commencing
      on that date and for a period of 30 days thereafter (the “Redemption Period”),
      the Company shall have the right, upon at least five days’ prior written notice
      to all, but not less than all, Purchasers to redeem all of the Shares in
      consideration for an amount equal to the Purchase Price paid by each Purchaser
      for its Shares. 

    

    1.3 Put
      Right.
      Each
      Purchaser shall have the right, during the Redemption Period, upon providing
      at
      least five days’ prior written notice to the Company, to require the Company to
      redeem all, but not less than all, of such Purchaser’s Shares for an amount
      equal to the Purchase Price paid by such Purchaser for its Shares. 

    

    1.4 Redemption
      Procedure.
      Upon
      any redemption of a Purchaser’s Shares, pursuant to the provisions of
Section
      1.2
      or
Section
      1.3
      hereof,
      and subject to the Company’s delivery of the applicable Purchase Price, such
      Purchaser shall deliver to the Company the certificate for such Shares, with
      applicable executed stock transfer powers, as well as any other documentation
      that the Company may reasonably request in connection with the redemption of
      such Shares, upon which such Purchaser shall have no further rights as a
      stockholder of the Company. 

     

    SECTION
      2: CLOSING DATE; DELIVERY

    

    2.1
      Closing
      Date.
      The
      closing of the purchase and sale of the Shares hereunder (the “Closing”) shall
      be held immediately following the execution and delivery of this
      Agreement.

    

    2.2
      Delivery
      at Closing.
      At the
      Closing, or promptly thereafter, the Company will deliver to each Purchaser
      a
      stock certificate registered in each such Purchaser’s name, representing the
      number of Shares to be purchased by such Purchaser hereunder, against payment
      of
      the purchase price therefore as indicated on Schedule
      I
      annexed
      hereto. 

    

    SECTION
      3: REPRESENTATIONS, WARRANTIES AND COVENANTS OF PURCHASERS

    

    The
      undersigned Purchasers hereby represent and warrant to the Company, severally
      and not jointly, as follows:

     

    3.1
      Transfer
      of Shares.
      Each
      Purchaser, with respect to the Shares being issued to it, hereby understands
      and
      acknowledges that such Shares have not been registered under the Securities
      Act
      of 1933, as amended (the “Securities Act”) and cannot be sold or otherwise
      transferred without an effective registration or an exemption therefrom and
      may
      not be sold pursuant to the exemption provided by Section 4(1) of the Securities
      Act, prior to date that the Company is no longer deemed to be a
      Shell
      Company, in
      accordance with the letter from Richard K. Wulff, Chief
      of
      the Office of Small Business Policy of the Securities and Exchange Commission’s
      Division of Corporation Finance,
      to Ken
      Worm of NASD Regulation, Inc., dated January 21, 2000, and can only be sold
      thereafter, pursuant to such exemption in compliance with the provisions of
      Rule
      144 promulgated under the Securities Act. 

    

    3.2
      Experience.
      Each
      Purchaser has such knowledge and experience in financial and business matters
      that such Purchaser is capable of evaluating the merits and risks of investment
      in the Company and of making an informed investment decision. Each Purchaser
      has
      adequate means of providing for its current needs and possible future
      contingencies and has no need, and anticipates no need in the foreseeable
      future, to sell the Shares for which such Purchaser subscribes. Each Purchaser
      is able to bear the economic risks of its investment and, consequently, without
      limiting the generality of the foregoing, such Purchaser is able to hold the
      Shares for an indefinite period of time and has sufficient net worth to sustain
      a loss of its entire investment in the Company in the event such loss should
      occur. Except as otherwise indicated herein, each Purchaser is the sole party
      in
      interest as to its investment in the Company, and it is acquiring the Shares
      solely for investment for its own account and has no present agreement,
      understanding or arrangement to subdivide, sell, assign, transfer or otherwise
      dispose of all or any part of the Shares subscribed for to any other person.
      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    3.3
      Investment;
      Access to Data.
      Each
      Purchaser has carefully reviewed and understands the risks of, and other
      considerations relating to, a purchase of the Shares and an investment in the
      Company. Each Purchaser has been furnished materials relating to the Company,
      the private placement of the Shares or anything else that it has requested
      and
      has been afforded the opportunity to ask questions and receive answers
      concerning the terms and conditions of the offering and obtain any additional
      information which the Company possesses or can acquire without unreasonable
      effort or expense. Representatives of the Company have answered all inquiries
      that such Purchaser has made of them concerning the Company, or any other
      matters relating to the formation and operation of the Company and the offering
      and sale of the Shares. No offering literature has been furnished to such
      Purchaser other than the materials that the Company may have provided at the
      request of such Purchaser; and such Purchaser has relied only on such
      information furnished or made available to it by the Company as described in
      this Section
      3.3.
      Each
      Purchaser is acquiring the Shares for investment for its own account, not as
      a
      nominee or agent and not with the view to, or for resale in connection with,
      any
      distribution thereof. Each Purchaser acknowledges that the Company is a start-up
      company with no current operations, assets or operating history, which may
      possibly cause a loss of such Purchaser’s entire investment in the Company.

    

    3.4
      Authorization.
      (a)
      This Agreement, upon execution and delivery thereof, will be a valid and binding
      obligation of each Purchaser, enforceable in accordance with its terms, subject
      to applicable bankruptcy, insolvency, reorganization and moratorium laws and
      other laws of general application affecting enforcement of creditors' rights
      generally.

    

    (b)
      The
      execution, delivery and performance by each Purchaser of this Agreement and
      compliance therewith and the purchase and sale of the Shares will not result
      in
      a violation of and will not conflict with, or result in a breach of, any of
      the
      terms of, or constitute a default under, any provision of state or federal
      law
      to which such Purchaser is subject, or any mortgage, indenture, agreement,
      instrument, judgment, decree, order, rule or regulation or other restriction
      to
      which such Purchaser is a party or by which such Purchaser is bound, or result
      in the creation of any mortgage, pledge, lien, encumbrance or charge upon any
      of
      the properties or assets of such Purchaser pursuant to any such
      term.

    

    3.5 Accredited
      Investor.
      Each
      Purchaser is an accredited investor as defined in Rule 501(a) of Regulation
      D
      promulgated under the Securities Act.

    

    3.6 Future
      Redemption of Certain Shares of Common Stock.
      Each
      Purchaser hereby acknowledges and agrees that the Company shall have the right,
      at any time, upon the mutual agreement of the Company and the applicable holders
      thereof, to redeem all or any portion of the 2,000,000 shares of Common Stock
      that were issued and outstanding immediately prior to the date of this
      Agreement, for an aggregate purchase price not to exceed $25,000.

    

    SECTION
      4: MISCELLANEOUS

    

    4.1
      Governing
      Law.
      This
      Agreement shall be governed in all respects by the laws of the State of
      Delaware, without regard to conflicts of laws principles thereof.

    

    4.2
      Survival.
      The
      terms, conditions and agreements made herein shall survive the Closing.

    

    4.3
      Successors
      and Assigns.
      Except
      as otherwise expressly provided herein, the provisions hereof shall inure to
      the
      benefit of, and be binding upon, the successors, assigns, heirs, executors
      and
      administrators of the parties hereto.

    

    4.4
      Entire
      Agreement; Amendment; Waiver.
      This
      Agreement constitutes the entire and full understanding and agreement between
      the parties with regard to the subject matter hereof. Neither this Agreement
      nor
      any term hereof may be amended, waived, discharged or terminated, except by
      a
      written instrument signed by all the parties hereto.

    

    4.5
      Counterparts.
      This
      agreement may be executed in one or more counterparts, each of which shall
      constitute an original and all of which taken together shall constitute one
      and
      the same agreement.

     

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        2

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF,
      the
      undersigned have hereunto set their hands as of the day and year first above
      written.

     

    
      	 	 	 
	 	COMPANY:
	 	 
	 	PLASTRON ACQUISITION CORP. I
	 
 	 
 	 
 
	 	By:  	/s/ Michael
              Rapp
	 	
              
Michael
              Rapp, President

    
      	 	 	 
	 	PURCHASERS:
	 	 
	 	 
	 
 	 
 	 
 
	 	By:  	/s/ Samuel
              May
	 	
              

              Entity:
                Penumbra Worldwide LTD

              Name:
                Samuel May

              Title:
                CEO

            

    

     

    
      	 	 	 
	 	By:  	/s/ Gerald
              Scott Klayman
	 	
              

              Name:
                Gerald Scott Klayman

              Title:

            

    

     

    
      	 	 	 
	 	By:  	/s/ Michael
              Rapp
	 	
              

              
                Entity:
                  BCM Equity Partners II LLC

                Name:
                  Michael Rapp

                Title:
                  Member

              

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    SCHEDULE
      I

    

    
      	
              Name
                of Purchaser

            	
              Number
                of Shares Purchased

            	
              Purchase
                Price

            
	 	 	 
	
              BCM
                Equity Partners II LLC

            	
              59,880

            	
              $3,000

            
	
              Penumbra
                Worldwide LTD

            	
              99,800

            	
              $5,000

            
	
              Gerald
                Scott Klayman 

            	
              99,800

            	
              $5,000

            

    

     

    
      
        
        

      

      
        4

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