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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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of Report (Date of Earliest Event Reported): May 11, 2009</font></div>
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CORPORATION&#160;</font>&#160;</font></div>
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5921-2300</font></div>
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appropriate box below if the Form&#160;8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></div>
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communications pursuant to Rule&#160;425 under the Securities Act (17 CFR
230.425)</font></div>
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material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17
CFR 240.14d-2(b))</font></div>
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communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17
CFR 240.13e-4(c))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Item
5.02 Departure of Directors or Certain Officers; Election of
Directors;Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On April 8, 2009, The Board of
Directors of China YouTV Corp. (the "Company") adopted the China YouTV Corp.
2009 Non-Qualified Stock Compensation Plan (the "Incentive Plan").</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The purpose of the Incentive Plan is to
continue to further the growth and development of the Company by affording an
opportunity for stock ownership to selected employees, consultants and directors
of the Company and its affiliates who are responsible for the conduct and
management of its business or who are involved in endeavors significant to its
success.&#160;&#160;The Incentive Plan is also intended to (a) assist the
Company in attracting new employees, consultants and directors and retaining
existing employees, consultants and directors, (b) encourage growth of the
Company through incentives that are consistent with the Company's goals, (c)
provide incentives for individual performance and (d) promote
teamwork.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Upon adoption of the Incentive Plan,
The Board of Directors will administer the Incentive Plan. The Board of
Directors has the full and exclusive right to grant and determine terms and
conditions of all awards granted under the Incentive Plan and to prescribe,
amend and rescind rules and regulations for administration of the Incentive
Plan.&#160;&#160;The Board of Directors may from time to time in its discretion
determine which of the eligible employees, consultants and directors of the
Company or its affiliates should receive awards, the type of awards to be
granted, and, as applicable, the number of shares of common stock subject to the
awards, the grant dates, the exercise or purchase price for shares subject to
the awards, the vesting conditions and duration of the awards and the
restrictions applicable to each grant of shares of common stock pursuant to the
awards.&#160;&#160;Each award will be evidenced by an award
agreement.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Board of Directors may grant stock
options, stock appreciation rights, restricted stock, bonus stock or other
stock-based awards under the Incentive Plan.&#160;&#160;The Board of Directors
has reserved a total of 15,000,000 shares of the Company's common stock for
issuance under the Incentive Plan.&#160;&#160;Shares of common stock subject to
awards granted under the Incentive Plan that are cancelled, expire or are
forfeited are available for re-grant under the Incentive Plan.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The Board of Directors may at any time
and from time to time alter, amend, suspend or terminate the Incentive Plan or
any part thereof as it may deem proper, except that no such action shall
diminish or impair the rights under an award previously
granted.&#160;&#160;Unless the Company's stockholders shall have given their
approval, The Board of Directors may not amend the Incentive Plan to (a)
increase the maximum aggregate number of shares that may be issued under the
Incentive Plan, (b) increase the maximum number of shares that may be issued
under the Incentive Plan through ISOs, (c) change the class of individuals
eligible to receive awards under the Incentive Plan or (d) make any other change
that would require stockholder approval under any applicable law.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>As of the date of this Current Report
on Form 8-K, no awards have been granted under the Incentive Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160; </font>The description of the Incentive Plan
set forth above is qualified in its entirety by reference to the full text of
Incentive Plan, a copy of which is attached to this Current Report on Form 8-K
as Exhibit 10.2 and incorporated herein by reference.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Effective as of May 5, 2009, Mr. Jie Wang resigned as a Director and President
of the Company. The Board of Directors appointed Mr. John Sadowski as the
President, CEO and a Director and Mr. Michael Lee as the Secretary, CFO and a
Director of the Company.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">John
Sadowski, 75, is a graduate in Mining-Prospector courses at Hailabary School of
Mines.&#160;&#160;In August 1993 he was appointed VP Exploration and Director
for Citadel Gold Mines Inc.&#160;&#160;Citadel is a TSX listed company with past
gold producing property in Wawa area.&#160;&#160;John was directly involved in
the building and operation of a mill for gold production on the Wawa
property.&#160;&#160;Since March 2006 John has been the President of Citadel
Gold Mines, Inc.&#160;&#160;John has been active in Canada, Australia, the
United States and South America.&#160;&#160;John is a prospector/bush pilot,
geologist and has managed and directed a number of private and public resource
operations.&#160;&#160;John has held his prospectors license for over 25 years
and was granted a permanent status by the Ministry of Mines in
2005.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Michael
Lee, 57, is a professional accountant, an associate member of the Association of
Chartered Certified Accountants. Michael has more than 30 years of management,
accounting and auditing experience in various corporations. Michael is the
Accountant of President Corporate Group since August 1st, 2007. He is
responsible for the preparation of financial statements and reports and
compliance with the filings to SEC. He is proficient with the US and Canadian
GAAP. Prior to this, he worked as an auditor with Crown Plaza Hotel Georgia from
October 1999 to January 2007.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial
Statements and Exhibits.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
No.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibit
Title</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a href="exhibit10-1.htm">10.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;China
YouTV Corp. 2009 Stock Incentive Plan</a></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</font></div>
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          </tr>
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            </td>
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cytv8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): May 11, 2009
CHINA YOUTV
CORPORATION
(Exact
name of registrant as specified in its charter)
Nevada
(State
or Other Jurisdiction of Incorporation)
333-130767
(Commission
File Number)
N/A
(I.R.S.
Employer Identification No.)
8
th
floor,
MeiLinDaSha, Ji 2, GongTi Road, East, Beijing, China 100027
(Address
of principal executive offices, including zip code.)
(8610)
5921-2300
(Registrant's
Telephone Number, Including Area Code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o     Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o     Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o     Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o     Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item
5.02 Departure of Directors or Certain Officers; Election of
Directors;Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On April 8, 2009, The Board of
Directors of China YouTV Corp. (the "Company") adopted the China YouTV Corp.
2009 Non-Qualified Stock Compensation Plan (the "Incentive Plan").
The purpose of the Incentive Plan is to
continue to further the growth and development of the Company by affording an
opportunity for stock ownership to selected employees, consultants and directors
of the Company and its affiliates who are responsible for the conduct and
management of its business or who are involved in endeavors significant to its
success.  The Incentive Plan is also intended to (a) assist the
Company in attracting new employees, consultants and directors and retaining
existing employees, consultants and directors, (b) encourage growth of the
Company through incentives that are consistent with the Company's goals, (c)
provide incentives for individual performance and (d) promote
teamwork.
Upon adoption of the Incentive Plan,
The Board of Directors will administer the Incentive Plan. The Board of
Directors has the full and exclusive right to grant and determine terms and
conditions of all awards granted under the Incentive Plan and to prescribe,
amend and rescind rules and regulations for administration of the Incentive
Plan.  The Board of Directors may from time to time in its discretion
determine which of the eligible employees, consultants and directors of the
Company or its affiliates should receive awards, the type of awards to be
granted, and, as applicable, the number of shares of common stock subject to the
awards, the grant dates, the exercise or purchase price for shares subject to
the awards, the vesting conditions and duration of the awards and the
restrictions applicable to each grant of shares of common stock pursuant to the
awards.  Each award will be evidenced by an award
agreement.
The Board of Directors may grant stock
options, stock appreciation rights, restricted stock, bonus stock or other
stock-based awards under the Incentive Plan.  The Board of Directors
has reserved a total of 15,000,000 shares of the Company's common stock for
issuance under the Incentive Plan.  Shares of common stock subject to
awards granted under the Incentive Plan that are cancelled, expire or are
forfeited are available for re-grant under the Incentive Plan.
The Board of Directors may at any time
and from time to time alter, amend, suspend or terminate the Incentive Plan or
any part thereof as it may deem proper, except that no such action shall
diminish or impair the rights under an award previously
granted.  Unless the Company's stockholders shall have given their
approval, The Board of Directors may not amend the Incentive Plan to (a)
increase the maximum aggregate number of shares that may be issued under the
Incentive Plan, (b) increase the maximum number of shares that may be issued
under the Incentive Plan through ISOs, (c) change the class of individuals
eligible to receive awards under the Incentive Plan or (d) make any other change
that would require stockholder approval under any applicable law.
As of the date of this Current Report
on Form 8-K, no awards have been granted under the Incentive Plan.
The description of the Incentive Plan
set forth above is qualified in its entirety by reference to the full text of
Incentive Plan, a copy of which is attached to this Current Report on Form 8-K
as Exhibit 10.2 and incorporated herein by reference.
Effective as of May 5, 2009, Mr. Jie Wang resigned as a Director and President
of the Company. The Board of Directors appointed Mr. John Sadowski as the
President, CEO and a Director and Mr. Michael Lee as the Secretary, CFO and a
Director of the Company.
John
Sadowski, 75, is a graduate in Mining-Prospector courses at Hailabary School of
Mines.  In August 1993 he was appointed VP Exploration and Director
for Citadel Gold Mines Inc.  Citadel is a TSX listed company with past
gold producing property in Wawa area.  John was directly involved in
the building and operation of a mill for gold production on the Wawa
property.  Since March 2006 John has been the President of Citadel
Gold Mines, Inc.  John has been active in Canada, Australia, the
United States and South America.  John is a prospector/bush pilot,
geologist and has managed and directed a number of private and public resource
operations.  John has held his prospectors license for over 25 years
and was granted a permanent status by the Ministry of Mines in
2005.
Michael
Lee, 57, is a professional accountant, an associate member of the Association of
Chartered Certified Accountants. Michael has more than 30 years of management,
accounting and auditing experience in various corporations. Michael is the
Accountant of President Corporate Group since August 1st, 2007. He is
responsible for the preparation of financial statements and reports and
compliance with the filings to SEC. He is proficient with the US and Canadian
GAAP. Prior to this, he worked as an auditor with Crown Plaza Hotel Georgia from
October 1999 to January 2007.
Item
9.01                      Financial
Statements and Exhibits.
(d)           Exhibits.
Exhibit
No.                                Exhibit
Title
10.1                                China
YouTV Corp. 2009 Stock Incentive Plan
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
China
      YouTV Corp.
Date: May
      7, 2009
By:
/s/
      Michael Lee
Michael
      Lee
Secretary, Chief
      Financial Officer and a Member of the Board of Directors