0001185185-11-000193 Sample Contracts

CLEANTECH INNOVATIONS, INC. STOCK OPTION AGREEMENT
Stock Option Agreement • February 22nd, 2011 • CleanTech Innovations, Inc. • Miscellaneous fabricated metal products • New York

This Stock Option Agreement (the “Agreement”), dated ________, ____, is between CleanTech Innovations, Inc., a Nevada corporation (the “Company”), with its principal office at C District, Maoshan Industry Park, Tieling Economic Development Zone, Tieling, Liaoning Province, China 112616, and __________, an individual residing at __________ (“Optionee”).

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FIRST AMENDMENT TO SHARE EXCHANGE AGREEMENT AND PLAN OF REORGANIZATION
Share Exchange Agreement • February 22nd, 2011 • CleanTech Innovations, Inc. • Miscellaneous fabricated metal products • New York

This First Amendment to the Share Exchange Agreement and Plan of Reorganization (this “First Amendment”), dated February 17, 2011, and effective as of July 2, 2010, by and among CleanTech Innovations, Inc., a Nevada corporation (“Purchaser”), and Liaoning Creative Bellows Co., Ltd. (“Creative Bellows”), a company organized under the laws of the People’s Republic of China (“PRC”), and each of the undersigned owners of Creative Bellows (the “Creative Bellows Shareholders”).

Waiver and Release
Waiver and Release • February 22nd, 2011 • CleanTech Innovations, Inc. • Miscellaneous fabricated metal products

This Waiver (this “Waiver”) is made as of October 27, 2010, between CleanTech Innovations, Inc., a Nevada corporation (the “Company”), and Wenge Chen (“Chen”).

Contract Name: Subcontract of Gezhouba Inner Date: October 20, 2010 Mongolia Wind Tower Tube Manufacturing Project
CleanTech Innovations, Inc. • February 22nd, 2011 • Miscellaneous fabricated metal products

Whereas Party A is desirous that Party B should take the subcontracted project, that is, the Manufacturing Contract of Wind Tower Tube of Inner Mongolia Huade Cheliwusu Wind Power Plant. The contract machine models comprise 33 sets of 1.5MW Gold Wind Power Machines, 33 sets of 1.5MW Sinovel Wind Power Machines. The total amount of Wind Power Machines is 66.

Waiver and Release
Waiver and Release • February 22nd, 2011 • CleanTech Innovations, Inc. • Miscellaneous fabricated metal products

This Waiver (this “Waiver”) is made as of October 27, 2010, between CleanTech Innovations, Inc., a Nevada corporation (the “Company”), and Bei Lu (“Lu”).

Waiver and Release
Waiver and Release • February 22nd, 2011 • CleanTech Innovations, Inc. • Miscellaneous fabricated metal products

This Waiver (this “Waiver”) is made as of October 27, 2010, between CleanTech Innovations, Inc., a Nevada corporation (the “Company”), and Wonderful Limited (“Wonderful”).

Waiver and Release
Waiver and Release • February 22nd, 2011 • CleanTech Innovations, Inc. • Miscellaneous fabricated metal products

This Waiver (this “Waiver”) is made as of October 27, 2010, between CleanTech Innovations, Inc., a Nevada corporation (the “Company”), and Dianfu Lu (“Lu”).

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