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| Delaware                                                      | 99-0351487                             |
|---------------------------------------------------------------|----------------------------------------|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification Number) |

| Title of each class                                                     |  Name of each exchange on which registered          |
|-----------------------------------------------------------------------------------|----------------------------------------------------------|
| Common Stock, par value $.001 per share        |  The NASDAQ Stock Market, LLC(NASDAQ Global Market) |

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| Large accelerated filer                                   | o      | Accelerated filer         | o |
|-----------------------------------------------------------|--------|---------------------------|---|
| Non-accelerated filer                                     | x      | Smaller reporting company | o |
| (Do not check if a smaller reporting company)   |   |

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|          | PART III                                                                                       |   |
|---------------|------------------------------------------------------------------------------------------------|--------|
|          |                                                                                           |   |
| Item 10.      | Directors, Executive Officers and Corporate Governance                                    | 4      |
|          |                                                                                           |   |
| Item 11. | Executive Compensation                                                                         | 8      |
|          |                                                                                           |   |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 21     |
|          |                                                                                           |   |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence                      | 23     |
|          |                                                                                           |   |
| Item 14. | Principal Accounting Fees and Services                                                         | 26     |
|          |                                                                                           |   |
|          | PART IV                                                                                        |   |
|          |                                                                                           |   |
| Item 15. | Exhibits and Financial Statement Schedules                                                     | 27     |
|          |                                                                                           |   |
|          | Signatures                                                                                     | 28     |

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| Scott B. Paul, Age 37                  | Mr. Paul has served as our Chief Executive Officer and member of the Board since April 1, 2010, and our President from April 2010 to February 2011.  Mr. Paul also served as our Chief Operating Officer from November 2008 to March 2010.  Previously, he served as our Vice President, Business Development and General Counsel from July 2003 to November 2008. Mr. Paul was also our Secretary from November 2004 to March 2005.  From June 2002 to June 2003, Mr. Paul was Associate General Counsel and Director of Business Development at Read-Rite Corporation, a component supplier for hard disk and tape drives.  From April 2000 to June 2002, he was an attorney in the Business and Technology Group at Brobeck, Phleger & Harrison LLP, a law firm.  From October 1999 to April 2000, Mr. Paul was an attorney in the Business Solutions Group at Crosby, Heafy, Roach & May, now Reed Smith Crosby Heafey, LLP, a law firm, and from October 1998 to October 1999, he was an attorney at Ropers, Majeski, Kohn & Bentley, a law firm. Mr. Paul has a B.A. in Psychology from the University of California, Los Angeles and a J.D. from Santa Clara University School of Law.   Mr. Paul brings to the Board extensive skills and experiences in executive management, corporate governance and legal matters. In addition, Mr. Paul’s intimate and historical knowledge of our day-to-day operations provides the board with an in-depth understanding of our business and financial conditions.                                                                                                                                                                                                                                                                                                                                          |
|----------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| Karl E. Stahlkopf, Ph.D., Age 70  | Dr. Stahlkopf has served as a member of our Board since July 2002. He is currently a Founding Partner and Director at Kairos Energy Capital where his emphasis is in technology analysis and evaluation, utility integration and project design optimization for project finance for renewable energy projects.  He was also a Partner and Director of Sennet Renewables, a merchant bank, where he focused on the financing of renewable energy projects from July 2009 to April 2010.  Dr. Stahlkopf was Senior Vice President, Energy Solutions and Chief Technology Officer of Hawaiian Electric Company, Inc., a subsidiary of Hawaiian Electric Industries, Inc., from May 2002 until July 2009.  While at Hawaiian Electric Dr. Stahlkopf also served as President of Renewable Hawaii, Inc., the renewable energy subsidiary of Hawaiian Electric Company, Inc.  From November 1973 to April 2002, Dr. Stahlkopf served as Vice President of Power Delivery and Utilization at Energy Power Research Institute, or EPRI, an independent, non-profit center for electricity and environmental research.  During his tenure at EPRI, Dr. Stahlkopf was also a founder and served as the President and Chief Executive Officer of EPRI Solutions, a subsidiary of EPRI, and was Chairman of the board of directors of Sure-Tech, LLC, a manufacturer of power electronic devices.  Dr. Stahlkopf has a B.S. in Electrical Engineering and Naval Science from the University of Wisconsin and an M.S. and Ph.D. in Nuclear Engineering from the University of California, Berkeley.  Dr. Stahlkopf’s extensive experience in the energy industry, particularly his background and knowledge in developing and financing renewable energy projects and technologies, provides the Board with significant insight and expertise with respect to our operations. |

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| Yi Zheng, Ph.D., Age 38 | Dr. Zheng has served as a member of our Board since December 2009.  Dr. Zheng has served since 2009 as the President of Yuanhong Venture Capital Co., Ltd.  He has also served since 2007 as a Venture Partner for Lightspeed Venture Partners.  Dr. Zheng also has served since  May 2008 as a member of the board of directors of SureAuto Corporation, a provider of industry leading services for used cars in China.  From April 23, 2009 to August 1, 2009, Dr. Zheng served as a director of Tianwei New Energy Holdings Co., Ltd., or Tianwei, a leading enterprise in the power transmission industry and our controlling stockholder.  From 2004 to 2007, Dr. Zheng served as the Managing Director of Investment of TongFang Co., Ltd. In 2003, Dr. Zheng co-founded and served as Chief Financial Officer of Baihe.com.  From 2002 to 2003, he served as an Associate of TPG-Newbridge Capital, LLC.  Dr. Zheng has an M.S. in Environmental Engineering from Tsinghua University, a Ph.D. in Civil and Environmental Engineering from the University of California, Davis, and a Master of Financial Engineering from the University of California, Berkeley.  Dr. Zheng’s strong background and expertise in finance, auditing and investment management provide him with the skills and qualifications to serve as a director of the Board and contribute significantly to the Board’s understanding of our strategic and financing planning and transactions. |
|-------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Dean K. Hirata, Age 54  | Mr. Hirata has served as a member of our Board since January 2007.  Since 2010, Mr. Hirata has been serving as Deputy Director of the Department of Budget and Finance for the State of Hawaii.  From 2006 to May 2010, Mr. Hirata served as Vice Chairman and Chief Financial Officer of Central Pacific Financial Corp., the holding company of Central Pacific Bank.  From 2004 to 2006, he served as Executive Vice President and Chief Financial Officer of Central Pacific Financial Corp.  From 2002 to 2004, he served as Executive Vice President and Chief Financial Officer of CB Bancshares, Inc., a bank holding company, whose principal subsidiary was City Bank.  From 1999 to 2002, he served as Senior Vice President and Chief Financial Officer of CB Bancshares.  From 1990 to 1999, Mr. Hirata served as Controller of First Hawaiian Bank.  From 1980 to 1990, Mr. Hirata was with KPMG LLP, an independent registered public accounting firm.  Mr. Hirata holds a Bachelor in Business Administration from the University of Hawaii.  Mr. Hirata’s extensive experience in financial reporting, public accounting, corporate finance and risk management brings significant expertise and knowledge to the Board, including issues relating to auditing and strategic planning. |
|------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Wei Xia, Age 51              | Mr. Xia has served as a member of our Board since December 2009 and the Chairman of our Board since March 2010.  Mr. Xia has served since 2004 as the Vice General Manager of Baoding Tianwei Group Co., Ltd., the parent company of Tianwei.  From 1999 to 2004, he served as the Vice General Manager of Baoding Tianwei Baobian Electric Co., Ltd., an affiliate of Tianwei.  From 1997 to 1999, he served as the Vice Manager of Baoding Tianwei Group Large Transformer Company, an affiliate of Tianwei.  Mr. Xia holds a Bachelor in Engineering from Lanzhou University of Technology.  Mr. Xia brings to the Board extensive knowledge and expertise in the energy industry, particularly those in the People’s Republic of China, and his affiliation with Tianwei, our largest stockholder, also provides significant expertise in the solar energy market relevant to our operations.                                                                                                                                                                                                                                                                                                                                                                                                                                               |

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| Zhengfei Gao, Age 43  | Mr. Gao has served as a member of our Board since July 2010. Mr. Gao has served as the General Manager of Tianwei New Energy Holdings Co., Ltd since 2009.  From 2007 to 2009, he served as the Vice President of CLP Electric Group Co., Ltd., a power equipment and PV product manufacturer, and Board Chairman of Jiangxi Jingde Semiconductor New Material Co., Ltd., a polysilicon manufacturer.  From 2003 to 2007, he served as the Vice President of Shanghai Dongdeng Group Co., Ltd. and General Manager of Shanghai Dongdeng Information Technology Co., Ltd., an information technology company.  From 2001 to 2002, Mr. Gao served as Director and Chief Financial Officer of Shanghai United Gene Technology Group Co., Ltd., a biotechnology company.  From 1999 to 2001, he served as General Manager of the Finance Department of China for Asia Pulp & Paper, a producer of pulp, paper, and packaging.  Mr. Gao holds a Bachelor’s degree in Industrial Management Engineering from Xi’an Jiaotong University.  Mr. Gao’s extensive experience in the energy and technology industries, particularly his management of Tianwei’s photovoltaic products business, and his management position in a polysilicon manufacturing company, provides the Board with an understanding of the factors impacting the construction and operation of our polysilicon plant, as well as the future strategic growth of our solar business.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (Mike) Tao Zhang, Age 38   | Dr. Zhang has served as a member of our Board since July 2010. Dr. Zhang was appointed Interim President of the Hoku Materials on October 29, 2010.  From 2009 to 2011, he served as Vice General Manager of Tianwei New Energy Holdings Co., Ltd.  From 2007 to 2009, he served as the Senior Manager/Director of Spansion Inc., a public company in the semiconductor industry by Fujitsu and AMD. From 2002 to 2007, he served as Senior Automation Engineer, Flash Factory IE Manager, Systems IE Manager, Department Manager, and Staff Technologist for Intel.  From 1998 to 2002, he was a Postdoctoral Research Fellow at the University of California, Berkeley.  He is Co-Chair of an IEEE Technical Committee and the recipient of an IEEE Early Career Award and the IIE Outstanding Young Industrial Engineer Award. He is also listed in Marquis Who’s Who in the World, invited to Asia 21 Young Leader Summit, and selected to the China Global Expert Recruitment program. Dr. Zhang received the M.S. and the Ph.D. degrees, as well as the Management of Technology certificate from the Haas School of Business and the College of Engineering, all at the University of California, Berkeley in record-breaking 3 years.  Dr. Zhang’s strong background and knowledge in operations management and working experiences in a large U.S. public company provides the Board with significant skills and expertise in analyzing our business operations.  In addition to his other responsibilities, Dr. Zhang is the Director and Executive Vice President of the US-China Green Energy Council, which promotes the expansion of public and private cooperative relationships in the solar industry between the United States and China, and he is currently in charge of Tianwei’s photovoltaic module sales and marketing efforts in North America.  These responsibilities provide the Board with added expertise and perspective on the broader solar market in which we operate and compete. |

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    -  overseeing and monitoring: 

-  our corporate accounting and financial reporting practices and the audits of our financial statements; 

-   our systems of internal accounting and financial controls; 

-   the quality and integrity of our financial statements and reports; 

-   appointing an independent registered public accounting firm to audit our financial statements; 

-   preparing the Audit Committee report that the rules and regulations of the SEC require be included in our annual proxy statement; 

-    providing our Board with the results of its monitoring and recommendations; and 

-  providing our Board with additional information and materials as it deems necessary to make our Board aware of significant financial matters that require the attention of our Board. 

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-  honest and ethical conduct; 

-  avoidance of conflicts of interest; 

-  full, fair, accurate, timely and understandable disclosure in reports and documents that we file with, or submit to, the SEC and in our other public communications; 

-  compliance with applicable governmental laws and regulations; 

-  prompt internal reporting of violations of the Code of Conduct to an appropriate person or persons identified in the Code of Conduct; and 

-  accountability for adherence to the Code of Conduct. 

----

----

----

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|                |   | Base Salary($) |    |   | RetentionBonus ($)(1) |   |    | EHS Bonus($)(2) |   |   | PerformanceBonus ($)(3) |   |   | Number of sharesSubject to RestrictedStock Awards |    |
|---------------------|--------|----------------|---------|--------|-----------------------|--------|---------|-----------------|--------|--------|-------------------------|--------|--------|---------------------------------------------------|---------|
|                |   |           |    |   |                  |   |    |            |   |   |                    |   |   | ServiceVesting (4)                                |    |   | PerformanceVesting (5) |   |
| Scott B. Paul       |   |           | 300,000 |   |                  |   | 100,000 |            |   |   | 50,000                  |   |   |                                              | 150,000 |   |   |   | 48,000 |   |   |   | 32,000 |   |
| Darryl Nakamoto     |   |           | 150,000 |   |                  |   | 50,000  |            |   |   | 25,000                  |   |   |                                              | 75,000  |   |   |   | 24,000 |   |   |   | 16,000 |   |
| Jerrod Schreck      |   |           | 120,000 |   |                  |   | 40,000  |            |   |   | 20,000                  |   |   |                                              | 40,000  |   |   |   | 24,000 |   |   |   | 16,000 |   |
| (Mike) Tao Zhang(6) |   |           | 75,000  |   |                  |   | 25,000  |            |   |   | 12,500                  |   |   |                                              |    |   |   |   | 12,000 |   |   |   |   |   |
| Karl M. Taft        |   |           | 150,000 |   |                  |   | 50,000  |            |   |   | 25,000                  |   |   |                                              | 75,000  |   |   |   | 24,000 |   |   |   | 16,000 |   |

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| Compensation Committee   |
|--------------------------|
| Karl E. Stahlkopf, Ph.D. |
| Yi Zheng, Ph.D.          |

| The material in this report is not “soliciting material,” is not deemed “filed” with the SEC, and is not to be incorporated by reference into any of our filings under the Securities Act of 1933, as amended, or the Exchange Act of 1934, as amended. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name and Principal Position                      |   | Year   |   | Salary($) |    |   | Bonus($) (1) |   |    | StockAwards($)(2)(3)(4) |   | OptionsAwards(5) |    | Non-Equity Incentive PlanCompensation ($)(6) |   |   | All Other Compensation ($)(7) |    |   | Total ($) |   |
|--------------------------------------------------|--------|--------|--------|-----------|---------|--------|--------------|--------|---------|-------------------------|--------|------------------|---------|----------------------------------------------|--------|--------|-------------------------------|---------|--------|-----------|--------|
| Scott B. Paul                                    |   | 2011   |   |      | 300,000 |   |         |   | 100,000 |                    |   |             | 124,320 |                                         |   |   |                          | 100,000 |   |      |   | 11,221 |   |   |   | 635,541 |   |
| Chief Executive Officer(2011)                    |   | 2010   |   |      | 120,000 |   |         |   | 40,000  |                    |   |             | 136,240 | (8)                                          |   |   |                          |    |   |      |   | 11,540 |   |   |   | 307,780 |   |
| Chief Operating Officer (2010 and 2009)          |   | 2009   |   |      | 120,000 |   |         |   |    |                    |   |             | 101,520 |                                         |   |   |                          | — |   |      |   | 7,227 |   |   |   | 228,747 |   |
|                                             |   |   |   |      |    |   |         |   |    |                    |   |             |    |                                         |   |   |                          |    |   |      |   |   |   |   |   |   |   |
| Darryl S. Nakamoto                               |   | 2011   |   |      | 150,000 |   |         |   | 50,000  |                    |   |             | 62,160  |                                         |   |   |                          | 50,000  |   |      |   | 7,451 |   |   |   | 319,611 |   |
| Chief Financial Officer, Treasurer and Secretary |   | 2010   |   |      | 120,000 |   |         |   | 40,000  |                    |   |             | 115,640 | (8)                                          |   |   |                          |    |   |      |   | 9,325 | (4) |   |   | 284,965 |   |
|                                             |   | 2009   |   |      | 120,000 |   |         |   |    |                    |   |             | 101,520 |                                         |   |   |                          | — |   |      |   | 556 | (4) |   |   | 222,076 |   |
|                                             |   |   |   |      |    |   |         |   |    |                    |   |             |    |                                         |   |   |                          |    |   |      |   |   |   |   |   |   |   |
| Jerrod Schreck                                   |   | 2011   |   |      | 120,000 |   |         |   | 40,000  |                    |   |             | 62,160  |                                         |   |   |                          | 33,333  |   |      |   | 9,419 |   |   |   | 264,912 |   |
| Chief Strategy Officer, President, Hoku Solar    |   |   |   |      |    |   |         |   |    |                    |   |             |    |                                         |   |   |                          |    |   |      |   |   |   |   |   |   |   |
|                                             |   |   |   |      |    |   |         |   |    |                    |   |             |    |                                         |   |   |                          |    |   |      |   |   |   |   |   |   |   |
| (Mike) Tao Zhang (9)                             |   | 2011   |   |      | 75,000  |   |         |   | 37,500  |                    |   |             | 22,800  |                                         |   |   |                          | — |   |      |   | 489 |   |   |   | 135,789 |   |
| President, Hoku Materials                        |   |   |   |      |    |   |         |   |    |                    |   |             |    |                                         |   |   |                          |    |   |      |   |   |   |   |   |   |   |
|                                             |   |   |   |      |    |   |         |   |    |                    |   |             |    |                                         |   |   |                          |    |   |      |   |   |   |   |   |   |   |
| Karl M. Taft, III                                |   | 2011   |   |      | 100,385 |   |         |   | 25,000  |                    |   |             | 123,120 |                                         | 2,400  |   |                          |    |   |      |   | 27,830 |   |   |   | 278,735 |   |
| Former Chief Technology Officer (10)             |   | 2010   |   |      | 120,000 |   |         |   | 40,000  |                    |   |             | 126,720 |                                         |   |   |                          | — |   |      |   | 2,983 |   |   |   | 289,703 |   |
|                                             |   | 2009   |   |      | 120,000 |   |         |   | — |                    |   |             | 135,360 |                                         |   |   |                          | — |   |      |   | 947 |   |   |   | 256,307 |   |

| (1) | Represents a cash retention bonus that was paid in four equal installments in each of July, September, December and March of the fiscal year except for Dr. Zhang whose bonus was paid in July 2011 as described below.  Mr. Taft only received the first two installments of the retention bonus earned prior to his resignation.                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The amount shown in this column for each fiscal year represents the aggregate the grant date fair value for the restricted stock awards subject to service based vesting made in that year calculated in accordance with FASB Standards Codification Topic 718 (“ASC Topic 718”) on the basis of the closing price of our common stock on the award date and does not take into account the impact of estimated forfeitures.  The assumptions used in the calculation of these amounts are included in Note 8, “Stockholders’ Equity—Stock-Based Compensation” to our audited consolidated financial statements in our Annual Report on Form 10-K for the year ended March 31, 2011.                                                          |
| (3) | In fiscal year 2011, we granted restricted stock awards subject to performance-based vesting.  The aggregate grant date fair market value of such restricted stock awards subject to performance-based vesting, calculated in accordance with ASC Topic 718 based on the probable outcome of the attainment of the pre-established performance objectives is zero.  The grant date fair value of such awards, assuming the highest level of performance was achieved, for each named executive officer who received these performance-based awards is as follows:  Mr. Paul, $82,880; Mr. Nakamoto, $41,440; Mr. Schreck, $41,440; Mr. Taft, $41,440.  None of the performance-based restricted stock awards vested and accordingly have been forfeited. |
| (4) | With respect to Mr. Taft, the disclosed amount includes the incremental fair value of the accelerated vesting of his 2008 and 2009 restricted stock awards in connection with his resignation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| (5) | Represents the incremental fair value of the accelerated vesting of a portion of Mr. Taft’s 2006 option grant in connection with his resignation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

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| (6)  |  Represents (i) a cash bonus earned upon the Company’s achievement of a certain environmental health and safety record for fiscal year 2011 and (ii) a cash bonus earned for achieving one of three specified construction and operations milestone related to our polysilicon plant.  Both the cash bonuses were paid in March 2011.  Mr. Taft, who resigned prior to the payment date for the bonus did not receive the performance-based bonuses.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (7)  | Represents, for all executives other than Mr. Taft, the cost of medical coverage for the executive’s family members.  With respect to Mr. Taft, this amount represents a cash severance payment of $25,000 paid to Mr. Taft pursuant to a Separation Agreement and Release dated November 30, 2010 and $2,830 for the cost of medical coverage for his family members.  For more information regarding the Separation Agreement and Release, please see the section entitled “Severance and Change of Control Agreements”.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| (8)  | The grant date fair value of the restricted stock awards granted in fiscal year 2010 for Mr. Paul and Mr., Nakamoto were erroneously understated in the Summary Compensation Table and the Grants of Plan-Based Awards Table in the Form 10-K/A filed on July 29, 2010.  The grant date fair values that should have been reported were $136,240 and $115,640, respectively as reflected in this Summary Compensation Table.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| (9)  | Dr. Zhang has served as a member of our Board since July 2010 and as the President of Hoku Materials since November 1, 2010. Dr. Zhang concurrently served as Vice General Manager of our parent corporation, Tianwei New Energy Holdings Co., Ltd. (“Tianwei”) until April 2011.  For his service to us, Dr. Zhang initially received only compensation from Tianwei.  However, in May 2011 the Compensation Committee approved an annual compensation package for Dr. Zhang comprised of (i) base salary in the amount of $150,000 (reduced by any base salary paid to him by Tianwei), (ii) a cash retention bonus in the amount of $25,000, (iii) a target environmental, health and safety bonus in the amount of $12,500 and (iv) a restricted stock grant under the Equity Plan covering 24,000 shares.  In order to retroactively effect the compensation to the October 1, 2010 start date of Dr. Zhang’s employment with us, the Committee authorized the following compensation package for the period October 1, 2010 to March 31, 2011: (i) base salary in the amount of $75,000 (less the amount paid to Dr. Zhang as salary during such period by Tianwei), (ii) retention bonus in the amount of $25,000, (iii) environmental, health and safety bonus in the amount of $12,500 and (iv) a fully vested stock grant covering 12,000 shares.  Of his $75,000 base salary, we paid $22,006 and Tianwei paid $52,994.  We paid the base salary and bonuses in July 2011.  The stock grant was awarded on June 1, 2011. |
| (10) | Effective on November 30, 2010 Mr. Taft resigned from his position as our Chief Technology Officer.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

| Name                          |   | GrantDate              |   | Date of Pre-Authorization(1) |   | Estimated Future PayoutsUnder Non-Equity IncentivePlan Award($)(2) |   | Estimated Future Payouts Under Equity Incentive Plan Awards(#)(3) |   | All OtherStock Awards:Number ofShares of Stockor Units(#) |   | All Other Option Awards: Number of Securities Underlying Options (4) |   | Grant Date Fair Value of Stock and Option Awards($)(5) |
|-------------------------------|--------|------------------------|--------|------------------------------|--------|--------------------------------------------------------------------|--------|-------------------------------------------------------------------|--------|-----------------------------------------------------------|--------|----------------------------------------------------------------------|--------|--------------------------------------------------------|
| Scott B. Paul                 |   | 3/18/104/01/10         |   | 3/18/10                      |   | 200,000                                                       |   | 32,000                                                            |   | 48,000                                                    |   | -                                                                    |   | 124,320                                                |
| Darryl S. Nakamoto            |   | 3/18/104/1/10          |   | 3/18/10                      |   | 100,000                                                       |   | 16,000                                                            |   | 24,000                                                    |   | -                                                                    |   | 62,160                                                 |
| Jerrod Schreck                |   | 3/18/104/01/10         |   | 3/18/10                      |   | 60,000                                                        |   | 16,000                                                            |   | 24,000                                                    |   | -                                                                    |   | 62,160                                                 |
| (Mike) Tao Zhang              |   | -                      |   | -                            |   | -                                                                  |   | -                                                                 |   | -                                                         |   | -                                                                    |   | -                                                      |
| Karl M. Taft, III   |   | 3/18/104/01/1011/30/01 |   | 3/18/10                 |   | 100,000                                                  |   | 16,000                                                       |   | 24,000                                               |   |   6,666                                                    |   | 123,1202,400                                           |

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| (1) | The Compensation Committee pre-authorized these equity awards under the Equity Plan on March 18, 2010 to subsequently become effective on April 1, 2010.                                                                   |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Represents the potential amounts payable upon achievement of performance goals related to an environmental health and safety record and construction and operation milestones related to our polysilicon plant as follows: |

| Name               | Environmental Health &Safety Record($) | Operation Milestones($) |
|--------------------|--------------------------------------------|-------------------------|
| Scott B. Paul      | 50,000                                     | 150,000                 |
| Darryl S. Nakamoto | 25,000                                     | 75,000                  |
| Jerrod Schreck     | 20,000                                     | 40,000                  |
| (Mike) Tao Zhang   | ---                                        | ---                     |
| Karl M. Taft, III  | 25,000                                     | 75,000                  |

|   | The environmental health and safety goals were achieved and the full amount of the bonus with respect to such goals was paid.  However, only one of three operation milestones was achieved and accordingly, only one-third of the target bonus related to these goals was paid.  The earned amounts are reported in the “Non-Equity Incentive Plan Compensation” column of the previous Summary Compensation Table.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)    | Represents number of shares subject to restricted stock awards subject to vesting based on attainment of specified performance goals based on net income and output at our polysilicon plan.  None of the performance goals were attained and, accordingly, the awards were forfeited.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| (4)    | Represents the accelerated vesting of 6,666 shares under the stock option granted to Mr. Taft in 2006.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| (5)    | The dollar value reported with respect to restricted stock awards represents the aggregate grant date fair value of the restricted stock awards, calculated in accordance with ASC Topic 718.  Such grant date fair value with respect to restricted stock awards subject to service based vesting is accordingly based on the closing price of our common stock on the grant date and does not take into account any estimated forfeitures related to service-vesting conditions.  The aggregate grant date fair market value of the restricted stock awards subject to performance-based vesting, calculated in accordance with ASC Topic 718 based on the probable outcome of the attainment of the pre-established performance objectives, is zero.  The dollar value reported with respect to stock options for Mr. Taft represents the incremental fair value of the accelerated vesting of his 2006 option grant. |

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| Option Awards     |   |  Stock Awards                                               |
|-------------------|--------|------------------------------------------------------------------|
| Name              |   | Number ofSecuritiesUnderlying UnexercisedOptions Exercisable (#) |   | Number of Securities Underlying Unexercised Options  Unexercis-able (#) |   | OptionExercisePrice ($) |   | OptionExpirationDate |   | Number of Shares or Units of Stock That Have Not Vested (#) |   | Market Value of Shares or Units of Stock That Have Not Vested ($) |   | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |   | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units of Other Rights That Have Not Vested ($) |
| (a)               |   | (b)                                                              |   | (c) |   | (e) |   | (f) |   | (g) |   | (h) |   | (i) |   | (j) |
| Scott B.Paul      |   | 33,333(1)53,333(2)                                               |   | --6,667(3) |   | 0.3752.60 |   | 12/13/1407/24/16 |   | 12,000 (4) |   | 24,000 (7) |   | 32,000 (8) |   |  64,000(7) |
| Darryl S.Nakamoto |   | 53,333(2)                                                        |   | 6,667(3) |   | 2.60 |   | 07/24/16 |   | 12,000(5) |   | 24,000(7) |   | 16,000(8) |   | 32,000(7) |
| JerrodSchreck     |   |                                                             |   |   |   |   |   |   |   | 6,639(6) |   | 13,278(7) |   | 16,000(8) |   | 32,000(7) |
| (Mike) TaoZhang   |   |                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Karl M.Taft, III  |   |                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

| (1) | Represents the vested portion of a stock option granted under our Equity Plan on December 13, 2004 for 33,333 shares. 1/36th of the shares vest on a monthly basis commencing on the second anniversary of the date of the grant.  As of March 31, 2010, the option was fully vested.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Represents the vested portion of stock options granted under our  Equity Plan on July 24, 2006.  Each option is immediately exercisable for all the option shares subject to the Company’s right to repurchase any unvested shares upon the executive officer’s termination.  1/36th of the shares vest on a monthly basis commencing on the second anniversary of the date of the grant.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below.  Each stock option has a ten year term.  Stock options generally terminate three months after termination of an optionee’s service for any reason other than disability or death, 12 months after termination due to disability and 18 months after termination due to death.              |
| (3) | Represents the unvested portion of stock options granted on July 24, 2006 for 60,000 shares of common stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (4) | Represents the unvested portion of a restricted stock award covering 12,000 shares granted on June 16, 2009, of which 1/4th of the shares vest quarterly after the vesting commencement date of April 1, 2011.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (5) | Represents the unvested portion of a restricted stock award covering 12,000 shares granted on June 16, 2009, of which 1/4th of the shares vest quarterly after the vesting commencement date of April 1, 2011.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| (6) | Represents (i) the unvested portion of a restricted stock award covering 5,000 shares granted on June 2, 2008, of which 1/3rd of the shares vest one year after the vesting commencement date of June 2, 2008 and 1/36th of the shares vest monthly thereafter, (ii) the unvested portion of a restricted stock award covering 4,000 shares granted on August 1, 2008, of which 1/3rd of the shares vest one year after the vesting commencement date of June 1, 2008 and 1/36th of the shares vest monthly thereafter and (iii) the unvested portion of a restricted stock award covering 6,000 shares granted on August 1, 2008, of which 1/24th of the shares vest monthly beginning three years after the vesting commencement date of June 1, 2008.  Vesting may accelerate pursuant to certain agreements, please see “Severance and Change of Control Agreements” below. |

----

| (7) | Value determined based on $2.00per share, the closing price of our common stock on March 31, 2011, the last market trading day for fiscal year 2011, as reported on the NASDAQ Global Market, multiplied by the number of shares subject to the restricted stock awards.                                                                                                                                           |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (8) | Represents the unvested portion of a restricted stock award covering 32,000 shares granted on April 1, 2010, subject to vesting upon attainment of performance goals as follows:  50% based on achievement of net income goals for fiscal year 2011 and 50% based on achievement of specified output of our polysilicon plant.  Neither goal was achieved and accordingly, the award was forfeited. |

|               |   | Stock Awards                         |   |
|--------------------|--------|--------------------------------------|--------|
| Name               |   | Number ofsharesAcquired onVesting(#) |   |   | ValueRealized onVesting($)(1) |   |
| Scott Paul         |   |                                 | 85,000 |   |   |   | 207,380 |   |
| Darryl S. Nakamoto |   |                                 | 56,000 |   |   |   | 143,530 |   |
| Jerrod Schreck     |   |                                 | 31,999 |   |   |   | 71,973 |   |
| (Mike) Tao Zhang   |   |                                 | -      |   |   |   | - |   |
| Karl M. Taft, III  |   |                                 | 52,000 |   |   |   | 148,640 |   |

| (1) | Value realized is determined by multiplying (i) the market price of the common stock on the applicable vesting date by (ii) the number of shares as to which each award vested on such date. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Executive Officer  |   | Value of Accelerated Vesting of Equity Awards($)(1) |
|--------------------|--------|-----------------------------------------------------|
| Scott Paul         |   | 12,000                                              |
|               |   |                                                |
| Darryl S. Nakamoto |   | 12,000                                              |

----

    -  Annual cash retainer of $30,000. 

-   A stock option grant for the number of shares with a grant date fair market value of $20,000.  The option was granted on April 1, 2010, covering 7,722 shares of our common stock with an exercise price per share equal to $2.59.  The option vested in full on March 31, 2011, provided the non-employee Board members continued in Board service through such date.  The option has a term of 10 years, subject to earlier termination upon cessation of Board service. 

-   A restricted stock grant for the number of shares with a grant date fair market value of $30,000.  The restricted stock was granted on April 1, 2010, covering 11,583 shares of our common stock.  The grant vested on March 31, 2011, provided the non-employee Board member continued in Board service through such date. 

| Name              |   | Cash ($)(1) |   | Option Awards($)(2)(3) |   | Stock Awards($)(4) |   | Total ($) |
|-------------------|--------|-------------|--------|------------------------|--------|--------------------|--------|-----------|
| Dean K. Hirata    |   | 40,000      |   | 15,521                 |   | 30,000             |   | 85,521    |
| Karl E. Stahlkopf |   | 41,500      |   | 15,521                 |   | 30,000             |   | 87,021    |
| Yi Zheng          |   | 43,500      |   | 15,521                 |   | 30,000             |   | 89,021    |
| Wei Xia           |   | -           |   | -                      |   | -                  |   | -         |
| Yu Wen            |   | -           |   | -                      |   | -                  |   | -         |
| Zhong Li          |   | -           |   | -                      |   | -                  |   | -         |

| (1) | The amounts shown represent the retainer earned by each Board member during fiscal year 2011.  The aggregate amount reported for each member is comprised of the following payments: |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|              | Annual Retainer ($) | CommitteeChairpersons onRetainer ($) | CommitteeMembers onRetainer($) |
|-------------------|---------------------|--------------------------------------|--------------------------------|
| Dean K. Hirata    | 30,000              | 10,000                               | --                             |
| Karl E. Stahlkopf | 30,000              | --                                   | 11,500                         |
| Yi Zheng          | 30,000              | 7,000                                | 6,500                          |
| Wei Xia           | ---                 | ---                                  | ---                            |
| Yu Wen            | ---                 | ---                                  | ---                            |
| Zhong Li          | ---                 | ---                                  | ---                            |

| (2) | The amounts shown in this column represent the grant date fair value of stock options granted to the non-employee director in fiscal year 2011 calculated in accordance with ASC Topic 718 and does not take into account the impact of estimated forfeitures.  The assumptions made in the valuation of the stock options are discussed in Note 8, “Stockholders’ Equity—Stock Based Compensation” to our audited consolidated financial statements contained in our Annual Report on Form 10-K for the year ended March 31, 2011. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | As of March 31, 2011 our current non-employee directors held an aggregate number of stock options as follows: Mr. Hirata 41,054 shares; Dr. Stahlkopf 47,720 shares; and Mr. Zheng 7,722 shares. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | The amounts shown in this column represent the grant date fair value for restricted stock granted in fiscal year 2011, determined in accordance with ASC Topic 718 on the basis of the closing price of our common stock on the award date and does not take into account the impact of estimated forfeitures.  The assumptions used in the calculation of these amounts are included in Note 8, “Stockholders’ Equity—Stock-Based Compensation” to our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2011. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name and Address of Beneficial Owner                                                                                     | Number of Shares BeneficiallyOwned |   | Percentage ofShares BeneficiallyOwned |
|--------------------------------------------------------------------------------------------------------------------------|------------------------------------|--------|---------------------------------------|
| 5% Stockholders:                                                                                                         |
| Tianwei New Energy Holdings Co., Ltd.No. 1 Tianwei RoadSouthwest Airport Economic Development ZoneChengdu Sichuan, China | 43,379,287                         | (1)    | 66.83%                                |
|  Officers and Directors:                                                                                            |                               |   |                                  |
| Wei Xia                                                                                                                  | —                            |   | —                               |
| Yi Zheng, Ph.d.                                                                                                          | 19,305                             |   | *                                     |
| Zhengfei Gao                                                                                                             | —                            |   | —                               |
| Tao Zhang, Ph.d.                                                                                                         | 8,189                              |   | —                               |
| Dean K. Hirata                                                                                                           | 56,569                             | (2)    | *                                     |
| Karl E. Stahlkopf, Ph.d.                                                                                                 | 81,086                             | (3)    | *                                     |
| Darryl S. Nakamoto                                                                                                       | 190,858                            | (4)    | *                                     |
| Scott B. Paul                                                                                                            | 260,272                            | (5)    | *                                     |
| Xiaoming Yin, Ph.D.                                                                                                      | —                            |   | —                               |
| Jerrod Schreck                                                                                                           | 63,908                             |   | *                                     |
| Karl M. Taft III                                                                                                         | 717,123                            | (7)    | 1.31%                                 |
|                                                                                                                     |                               |   |                                  |
| All executive officers and directors as a group (11 persons)                                                             | 1,397,310                          | (8)    | 2.53%                                 |

| *   | Less than one percent.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Consists of 33,379,287 shares of common stock and 10,000,000 shares of common stock issuable upon exercise of a warrant issued to Tianwei in connection with the investment transaction that closed on December 22, 2009.  Based on a Schedule 13D filed by Tianwei on September 30, 2009, as amended by a Schedule 13D/A filed by Tianwei on December 31, 2009, each of Tianwei and Baoding Tianwei Group Co., Ltd. has sole voting and dispositive power over an aggregate of 43,379,287 shares.  We entered into an investors rights agreement with Tianwei in connection with its investment that was closed in December 2009, pursuant to which Tianwei has the right to designate four nominees to our board will terminate upon the earlier of (i) Tianwei (together with its affiliates) ceasing to be our largest individual stockholder or (i) Tianwei (together with its affiliates) owning less than 25% of the outstanding shares of our common stock. See also “Item 13. Certain Relationships and Related Transactions, and Director Independence—Relationship with Tianwei.” |
| (2) | Includes 41,054 shares of common stock subject to options exercisable within 60 days of June 30, 2011 by Mr. Hirata.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| (3) | Includes 47,720 shares of common stock subject to options exercisable within 60 days of June 30, 2011 by Mr. Stahlkopf.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| (4) | Includes 60,000 shares of common stock subject to options exercisable within 60 days of June 30, 2011 by Mr. Nakamoto.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| (5) | Includes 93,333 shares of common stock subject to options exercisable within 60 days of June 30, 2011 by Mr. Paul.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| (7) | Includes 717,123 shares held in the Karl M. Taft III Trust dated November 25, 2005, which is deemed to be controlled by Mr. Taft.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| (8) | Includes 249,829 shares of common stock subject to options exercisable within 60 days of June 30, 2011 by the executive officers and directors, and excludes information for Mr. Taft whose resignation as Chief Technology Officer became effective on November 30, 2010.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

----

| Plan Category                                                 |   | Number of securities to be issued upon exercise of outstanding options, warrants and rights |    |   | Weighted-average exercise price of outstanding options, warrants and rights |   |    | Number of securities remaining available for issuance under equity compensation plans (excluding securities reflected in column (a)) |   |
|---------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------|---------|--------|-----------------------------------------------------------------------------|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------|--------|
| Equity compensation plans approved by security holders(1)     |   |                                                                                        | 379,610 |   |                                                                        | $      | 3.02    | (3)                                                                                                                                  |   |   | 1,189,218 | (4) |
| Equity compensation plans not approved by security holders(2) |   |                                                                                        | — |   |                                                                        |   | — |                                                                                                                                 |   |   | — |   |
| Total                                                         |   |                                                                                        | 379,610 |   |                                                                        | $      | 3.02    | (3)                                                                                                                                  |   |   | 1,189,218 | (4) |

| (1) | This row includes our 2002 Stock Plan, 2005 Equity Incentive Plan, and 2005 Non-Employee Directors’ Stock Option Plan. |
|-----|------------------------------------------------------------------------------------------------------------------------------|

| (2) | All of our equity compensation plans have been approved by our stockholders. |
|-----|------------------------------------------------------------------------------|

| (3) | Represents weighted average exercise price of outstanding options only. |
|-----|-------------------------------------------------------------------------|

| (4) | The number of shares of common stock reserved for issuance under our 2005 Equity Incentive Plan will automatically increase on April 1st of each year, from 2006 through 2014, in an amount equal to the lesser of 133,333 shares of our common stock or the number of shares of common stock granted pursuant to stock awards in the prior fiscal year.  The number of shares of our common stock reserved for issuance under our 2005 Non-Employee Directors’ Stock Option Plan will automatically increase on April 1st of each year, from 2006 through 2014, by the number of shares of common stock subject to options granted during the preceding fiscal year, less the number of shares that reverted back to the share reserve during the preceding fiscal year.  Our Board has the authority to designate a smaller number of shares by which the authorized number of shares of common stock will be increased under both plans prior to the last day of any fiscal year. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Date of  Credit Agreement | Lender                                                        | Principal Amount                                                  | Interest Rate                                                                                 | Maturity Date                                                                                                                       |
|-------------------------------------|---------------------------------------------------------------|-------------------------------------------------------------------|-----------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|
| May 24, 2010                        | China Merchants Bank Co., Ltd., New York Branch               | $20,000,000                                                       | LIBOR Rate plus 2% or prime rate at our election for any portion not less than $1 million     | May 24, 2012                                                                                                                        |
| June 30, 2010                       | China Construction Bank, New York Branch                      | $28,300,000                                                       | LIBOR Rate plus 1.875% or prime rate at our election for any portion not less than $1 million | June 15, 2012 or the 15th day prior to the expiration of the Letter of Credit.                                                      |
| August 16, 2010                     | China Merchants Bank Co., Ltd., New York Branch               | $10,000,000                                                       | LIBOR Rate plus 2% or prime rate at our election for any portion not less than $1 million     | August 16, 2012                                                                                                                     |
| August 26, 2010                     | China Merchants Bank Co., Ltd., New York Branch               | $5,000,000                                                        | LIBOR Rate plus 2% or prime rate at our election for any portion not less than $1 million     | August 24, 2012                                                                                                                     |
| September 17, 2010                  | China Merchants Bank Co., Ltd., New York Branch               | $10,000,000                                                       | LIBOR Rate plus 2% or prime rate at our election for any portion not less than $1 million     | September 16, 2013                                                                                                                  |
| October 8, 2010                     | China Merchants Bank Co., Ltd., New York Branch               | $13,000,000                                                       | LIBOR Rate plus 2% or prime rate at our election for any portion not less than $1 million     | October 18, 2013                                                                                                                    |
| October 19, 2010                    | China Construction Bank, Singapore Branch                     | $29,000,000                                                       | LIBOR Rate plus 2%.                                                                           | About 3 years from first advance (October 2013)                                                                                     |
| December 20, 2010                   | China Merchants Bank Co., Ltd., New York Branch               | $10,000,000                                                       | LIBOR Rate plus 2% or prime rate at our election for any portion not less than $1 million     | December 20, 2013                                                                                                                   |
| December 23, 2010                   | Industrial and Commercial Bank of China Ltd., New York Branch | $15,500,000                                                       | LIBOR Rate plus 2.6%.                                                                         | Earlier of December 23, 2013 or 10th business day prior to the date the Letter of Credit expires or terminates                      |
| January 10, 2011                    | Industrial and Commercial Bank of China Ltd., New York Branch | $19,500,000                                                       | LIBOR Rate plus 2.6%.                                                                         | Earlier of January 10, 2014 or 10th business day prior to the date the Letter of Credit expires or terminates                       |
| February 7, 2011                    | CITIC Bank International Limited, New York Branch             | $19,000,000                                                       | LIBOR Rate plus 2.5%.                                                                         | Earlier of February 4, 2013 and the 15th business day prior to the date on which the first letter of credit expires or terminates   |
| February 25, 2011                   | Bank of China, New York Branch                                | Lesser of $30,000,000 or the aggregate amount of letter of credit | LIBOR Rate plus 2.4%.                                                                         | Earlier of February 25, 2014 and the 15th business day prior to the date on which the first letter of credit expires or terminates  |
| April 7, 2011                       | Industrial and Commercial Bank of China Ltd., New York Branch | $15,000,000                                                       | LIBOR Rate plus 2.7%                                                                          | Earlier of April 6, 2014 and  the 10th business day prior to the date on which the letter of credit expires or terminates |
| June 2, 2011                        | Industrial and Commercial Bank of China Ltd., New York Branch | $24,700,000                                                       | LIBOR Rate plus 3.8%                                                                          | Earlier of June 2, 2016 and  the 10th business day prior to the date on which the letter of credit expires or terminates  |

----

----

|               |   | 2011    |    |   | 2010   |   |
|--------------------|--------|---------|---------|--------|--------|--------|
|               |   | E&Y |    |   | KPMG   |   |   | E&Y |   |
| Audit Fees         |   | $       | 72,251  |   |   | $      | 255,497 |   |   | $ | 377,000 |   |
| Audit-related Fees |   |    | 9,529   |   |   |   | — |   |   |   | — |   |
| Tax Fees           |   |    | 15,707  |   |   |   | — |   |   |   | 28,000 |   |
| All Other Fees     |   |    | — |   |   |   | — |   |   |   | — |   |
| Total Fees         |   | $       | 97,487  |   |   | $      | 255,497 |   |   | $ | 405,000 |   |

----

----

|             |   |                                                                                     |
|------------------|--------|------------------------------------------------------------------------------------------|
| HOKU CORPORATION |
|             |   |
| By:              |   | /s/    Scott B. Paul         |
|             |   | Scott B. Paul                                                                            |
|             |   |                                                                                     |
|             |   | Chief Executive Officer and Director                                                     |

|                                                                                                                                                                                                                                                            |         |                                                        |   |          |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|-------------------------------------------------------------|--------|---------------|
| Signature                                                                                                                                                                                                                                                       |    | Title                                                       |   | Date          |
|                                                                                                                                                                                                                                                            |         |                                                        |
| /s/ Scott B. Paul                                                                                                                                                                                                                                               |    | Chief Executive Officer and                                 |   | July 29, 2011 |
| Scott B. Paul                                                                                                                                                                                                                                                   |         | Director (Principal Executive Officer)                      |   |          |
|                                                                                                                                                                                                                                                            |         |                                                        |
| /s/ DARRYL S. NAKAMOTO                                                                                                                                                                                                                                          |    | Chief Financial Officer, Treasurer and                      |   | July 29, 2011 |
| Darryl S. Nakamoto                                                                                                                                                                                                                                              |         |  Secretary (Principal Financial andAccounting Officer) |   |          |
|                                                                                                                                                                                                                                                            |         |                                                        |   |          |
| *                                                                                                                                                                                                                                                               |         | Director                                                    |   | July 29, 2011 |
|  Karl E. Stahlkopf                                                                                                                                                                                                                                         |         |                                                        |   |          |
|                                                                                                                                                                                                                                                            |         |                                                        |   |          |
| *                                                                                                                                                                                                                                                               |         | Director                                                    |   | July 29, 2011 |
| Dean K. Hirata                                                                                                                                                                                                                                                  |         |                                                        |   |          |
|                                                                                                                                                                                                                                                            |         |                                                        |   |          |
| *                                                                                                                                                                                                                                                               |         | Director                                                    |   | July 29, 2011 |
| Zhengfei Gao                                                                                                                                                                                                                                                    |         |                                                        |   |          |
|                                                                                                                                                                                                                                                            |         |                                                        |   |          |
| *                                                                                                                                                                                                                                                               |         | Director                                                    |   | July 29, 2011 |
| Tao Zhang                                                                                                                                                                                                                                                       |         |                                                        |   |          |
|                                                                                                                                                                                                                                                            |         |                                                        |   |          |
| *                                                                                                                                                                                                                                                               |         | Director                                                    |   | July 29, 2011 |
| Wei Xia                                                                                                                                                                                                                                                         |         |                                                        |   |          |
|                                                                                                                                                                                                                                                            |         |                                                        |   |          |
| *                                                                                                                                                                                                                                                               |         | Director                                                    |   | July 29, 2011 |
| Yi Zheng                                                                                                                                                                                                                                                        |         |                                                        |   |          |
|                                                                                                                                                                                                                                                            |         |                                                        |   |          |
| *By                                        /s/ Scott B. Paul |    |                                                        |   |          |
| Scott B. PaulAttorney-in-Fact                                                                                                                                                                                                                                   |         |                                                        |   |          |

----

| Exhibit No. |         | Exhibit Description                                                                                                                                           |         | Form       |         | File Number                                                                     |         | Exhibit   |         | FilingDate           |         | FiledHerewith                                          |
|-------------|--------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|------------|--------------|--------------------------------------------------------------------------------------|--------------|-----------|--------------|----------------------|--------------|--------------------------------------------------------|
|        |         |                                                                                                                                                          |         |       |         |                |         |      |         |                 |         |                                                   |
| 2.1         |         | Securities Purchase Agreement, dated as of  September 28, 2009, by and between Tianwei New Energy Holdings Co., Ltd. and Hoku Scientific, Inc.      |         | 8-K        |         | 000-51458                                                                            |         | 2.1       |         | 9/29/09              |         |                                                   |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 3.1         |    | Amended and Restated Certificate of Incorporation                                                                                                             |    | 10-K       |    | 000-51458                                                                       |    | 3.1  |    |  7/14/10        |    |           |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 3.2         |         | Amended and Restated Bylaws                                                                                                                                   |         | 8-K        |         | 000-51458                                                                            |         | 3.2       |         | 10/23/07   |         |                                                   |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 3.3         |         | Amendment to Amended and Restated Bylaws                                                                                                                      |         | 10-K  |         | 000-51458                                                                       |         | 3.3       |         | 7/14/10         |         |           |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 3.4         |         | Certificate of Amendment of the Amended and Restated Certificate of Incorporation                                                                             |         | 8-K        |         | 000-51458                                                                            |         | 3.3       |         | 3/19/10              |         |                                                   |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 4.1         |    | Specimen Common Stock Certificate                                                                                                                             |    | S-1/A      |    |  333-124423                                                                     |    | 4.1       |    | 6/2/05               |    |                                                   |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 4.2         |         | Warrant for the Purchase of Shares of Common Stock of Hoku Scientific, Inc., dated December 22, 2009, issued to Tianwei New Energy Holdings Co., Ltd.         |         | 8-K/A      |         | 000-51458                                                                            |         | 4.4       |         | 12/31/09             |         |                                                   |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 4.3         |         | Investor Rights Agreement, dated as of December 22, 2009, between Tianwei New Energy Holdings Co., Ltd. and Hoku Scientific, Inc.                             |         | 8-K/A      |         | 000-51458                                                                            |         | 4.5       |         | 12/31/09             |         |                                                   |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 4.4         |         | Form of Lock-Up Agreement, dated December 22, 2009, between Tianwei New Energy Holdings Co., Ltd. and certain officers and directors of Hoku Scientific, Inc. |         | 8-K/A      |         | 000-51458                                                                            |         | 4.6       |         | 12/31/09             |         |                                                   |
|        |         |                                                                                                                                                          |         |       |         |                                                                                 |         |      |         |                 |         |                                                   |
| 10.2+       |    | Form of Addendum to Stock Option Agreement under the 2002 Stock Plan, as amended, by and between Scott Paul and Hoku Scientific, Inc.                         |    | S-1        |    | 333-124423                                                                           |    | 10.6      |    | 4/28/05              |    |                                                   |

----

| 10.3+         |    | Form of Addendum to Stock Option Agreement under the 2002 Stock Plan, as amended, by and between each of the non-employee directors and Hoku Scientific, Inc.           |    | S-1     |    | 333-124423      |    | 10.7        |    | 4/28/05        |    |   |
|---------------|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|---------|--------------|-----------------|--------------|-------------|--------------|----------------|--------------|--------|
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.4          |    | Form of Indemnity Agreement entered into between Hoku Scientific, Inc. and each of its directors and officers                                                           |    | S-1     |    | 333-124423      |    | 10.8        |    | 4/28/05        |    |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.5+         |    | 2002 Stock Plan, as amended                                                                                                                                             |    | S-1     |    | 333-124423      |    | 10.9        |    | 4/28/05        |    |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.6+         |    | Form of Stock Option Agreement under the 2002 Stock Plan, as amended                                                                                                    |    | S-1     |    | 333-124423      |    | 10.10       |    | 4/28/05        |    |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.7+         |    | 2005 Equity Incentive Plan                                                                                                                                              |    | 8-K     |    | 000-51458       |    | 10.11       |    | 9/13/06        |    |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.8+         |    | Form of Stock Option Agreement under the 2005 Equity Incentive Plan                                                                                                     |    | 8-K     |    | 000-51458       |    | 10.12       |    | 9/13/06        |    |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.9+         |    | 2005 Non-Employee Directors’ Stock Option Plan                                                                                                                    |    | S-1/A#4 |    | 333-124423      |    | 10.13       |    | 7/13/05        |    |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.10+        |    | Form of Stock Option Agreement under the 2005 Non-Employee Directors’ Stock Option Plan                                                                           |    | S-1/A#4 |    | 333-124423      |    | 10.14       |    | 7/13/05        |    |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.11         |    | Ground Lease, dated March 22, 2007, by and between Hoku Materials, Inc. and The City of Pocatello                                                                       |    | 8-K     |    | 000-51458       |    | 10.38       |    | 3/28/07        |    |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.12 † |         | Agreement for Engineering of Hoku Electric Substation and Associated Facilities, dated June 14, 2007, by and between Idaho Power Company and Hoku Materials, Inc.  |         | 10-Q    |         |  000-51458 |         |  10.47 |         | 08/06/07       |         |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.13 † |         | Cost Plus Incentive Construction Contract, dated August 8, 2007, by and between JH Kelly LLC and Hoku Materials, Inc.                                                   |         | 10-Q    |         | 000-51458       |         |  10.52 |         | 11/13/07       |         |   |
|          |         |                                                                                                                                                                    |         |    |         |            |         |        |         |           |         |   |
| 10.14 † |         | Engineering, Procurement and Construction Management Agreement, dated August 7, 2007, by and between Stone & Webster, Inc. and Hoku Materials, Inc.                 |         | 10-Q    |         | 000-51458       |         |  10.53 |         | 11/13/07  |         |   |

----

|  10.15   |   | Change Order Number 1 to Engineering, Procurement & Construction Management Agreement, dated October 3, 2007, by and between Hoku Materials, Inc. and Stone & Webster, Inc.                    |   | 10-K       |    | 000-51458  |    | 10.15  |    |  7/14/10 |    |           |
|---------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|--------------|-----------------|--------------|-------------|--------------|---------------|--------------|--------------------------------------------------------|
|          |   |                                                                                                                                                                                                   |   |       |         |            |         |        |         |          |         |                                                   |
| 10.16 † |   | Engineering Services and Technology Transfer Agreement, dated October 6, 2007, by and between Dynamic Engineering Inc. and Hoku Materials, Inc.                                                        |   | 10-Q       |         | 000-51458       |         |  10.55 |         | 11/13/07      |         |                                                   |
|          |   |                                                                                                                                                                                                   |   |       |         |            |         |        |         |          |         |                                                   |
| 10.17 † |   | Amendment and Restatement of Contract, dated October 15, 2007, by and between Graeber Engineering Consultants GmbH and MSA Apparatus Construction for Chemical Equipment Ltd. and Hoku Materials, Inc. |   | 10-Q       |         | 000-51458       |         |  10.56 |         | 11/13/07      |         |                                                   |
|          |   |                                                                                                                                                                                                   |   |       |         |            |         |        |         |          |         |                                                   |
| 10.18         |   | Registration Rights Agreement, dated February 29, 2008, by and among Hoku Scientific, Inc., and the Purchasers named therein                                                                           |   | 8-K        |         | 000-51458       |         | 10.65       |         | 02/29/08      |         |                                                   |
|          |   |                                                                                                                                                                                                   |   |       |         |            |         |        |         |          |         |                                                   |
| 10.19         |   | Amendment No. 1 to Engineering Services & Technology Transfer Agreement, dated April 4, 2008, by and between Hoku Materials, Inc. and Dynamic Engineering Inc.                                     |   | 8-K        |         | 000-51458       |         | 10.67       |         | 04/09/08      |         |                                                   |
|          |   |                                                                                                                                                                                                   |   |       |         |            |         |        |         |          |         |                                                   |
| 10.20 † |   | Equipment Purchase & Sale Agreement, dated March 4, 2008, by and between Hoku Materials, Inc. and Saft Power Systems USA Inc.                                                                      |   |  10-K |         | 000-51458       |         |  10.68 |         |  6/6/08  |         |                                                   |
|          |   |                                                                                                                                                                                                   |   |       |         |            |         |        |         |          |         |                                                   |
| 10.21 † |   | Change Order Number 2 to Engineering, Procurement & Construction Management Agreement, dated April 8, 2008, by and between Hoku Materials, Inc. and Stone & Webster, Inc. |   |  10-K |   | 000-51458 |   |  10.69 |   |  6/6/08 |   |   |
|---------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|--------|-----------|--------|-------------|--------|--------------|--------|--------|

----

| 10.22 † |   | Change Order Number 2 to Cost Plus Incentive Construction Contract, dated April 7, 2008, by and between Hoku Materials, Inc. and JH Kelly LLC                                                                                 |   |  10-K |   | 000-51458 |   |  10.70 |   |  6/6/08 |   |   |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|--------|-----------|--------|-------------|--------|--------------|--------|--------|
|          |   |                                                                                                                                                                                                                          |   |       |   |      |   |        |   |         |   |   |
| 10.23 † |   | Equipment Purchase & Sale Agreement, dated April 8, 2008, by and between Hoku Materials, Inc. and PVA Tepla Danmark                                                                                                       |   |  10-K |   | 000-51458 |   |  10.71 |   |  6/6/08 |   |   |
|          |   |                                                                                                                                                                                                                          |   |       |   |      |   |        |   |         |   |   |
| 10.24 † |   | First Amended & Restated Supply Agreement, dated as of May 12, 2008, by and between Hoku Materials, Inc. and Wuxi Suntech Power Co., Ltd.                                                                  |   |  10-K |   | 000-51458 |   |  10.72 |   |  6/6/08 |   |   |
|          |   |                                                                                                                                                                                                                          |   |       |   |      |   |        |   |         |   |   |
| 10.25†  |   | Second Amended and Restated Supply Agreement, dated as of May 13, 2008, by and between Hoku Materials, Inc. and Solarfun Power Hong Kong Limited                                                                    |   |  10-K |   | 000-51458 |   |  10.73 |   |  6/6/08 |   |   |
|          |   |                                                                                                                                                                                                                          |   |       |   |      |   |        |   |         |   |   |
| 10.26         |   | Amended and Restated Agreement for Construction of Hoku Electric Substation and Associated Facilities, dated September 17, 2008, between Hoku Materials, Inc. and Idaho Power Company                                         |   | 8-K        |   | 000-51458 |   | 10.79       |   | 9/22/08      |   |   |
|          |   |                                                                                                                                                                                                                          |   |       |   |      |   |        |   |         |   |   |
| 10.27         |   | Amendment No. 1 to Second Amended and Restated Supply Agreement, between Hoku Materials, Inc. and Solarfun Power Hong Kong Limited, with Solarfun Power Holdings Co., Ltd. signing as guarantor, dated as of October 22, 2008 |   | 8-K        |   | 000-51458 |   | 10.81       |   | 10/23/08     |   |   |
|          |   |                                                                                                                                                                                                                          |   |       |   |      |   |        |   |         |   |   |
| 10.28†  |   | Supply Agreement, dated as of November 19, 2008, by and between Hoku Materials, Inc. and BHS Acquisitions, LLC                                                                                                                |   | 10-Q       |   | 000-51458 |   | 10.88       |   | 2/3/09       |   |   |
|          |   |                                                                                                                                                                                                                          |   |       |   |      |   |        |   |         |   |   |
| 10.29†  |   | Hoku Solar Power I, LLC Operating Agreement, dated as of December 23, 2008, by and between UFA Renewable Energy Fund I, LLC and Hoku Solar, Inc.                                                                              |   | 10-Q       |   | 000-51458 |   | 10.89       |   | 2/3/09       |   |   |

----

| 10.30† |   | Development Service Agreement, dated as of December 23, 2008, by and between Hoku Solar, Inc. and Hoku Solar Power I, LLC                                                                                |   | 10-Q   |   | 000-51458 |   | 10.90  |   | 2/3/09  |   |   |
|--------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|---------|--------|--------|
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.31† |   | Purchase and Sale and Operation and Maintenance Agreement, dated as of December 23, 2008, by and between Hoku Solar, Inc. and Hoku Solar Power I, LLC                                                    |   | 10-Q   |   | 000-51458 |   | 10.91  |   | 2/3/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.32        |   | Right of First Refusal Agreement, dated as of December 23, 2008, by and between UFA Renewable Energy Fund I, LLC and Hoku Solar, Inc.                                                                    |   | 10-Q   |   | 000-51458 |   | 10.92  |   | 2/3/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.33        |   | Guaranty, dated as of December 23, 2008, by and between Hoku Solar Power I, LLC; UFA Renewable Energy Fund I, LLC; Firstar Development LLC; Hoku Scientific, Inc.; and Hoku Solar, Inc.                  |   | 10-Q   |   | 000-51458 |   | 10.93  |   | 2/3/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.34        |   | Economic Development Agreement, dated as of May 27, 2009, by and between Hoku Materials, Inc. and Pocatello Development Authority                                                                        |   | 10-Q   |   | 000-51458 |   | 10.95  |   | 6/2/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.35        |   | Amendment to the Equipment Purchase & Sale Agreement dated March 4, 2008, between Hoku Materials, Inc., and AEG Power Solutions USA Inc. (fka Saft Power Systems USA Inc.), dated as of May 29, 2009 |   | 10-Q   |   | 000-51458 |   | 10.96  |   | 6/2/09  |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.36† |   | First Amended and Restated Supply Agreement, dated as of May 21, 2009, by and between Hoku Materials, Inc. and Polymet Alloys, Inc.                                                                 |   | 10-K   |   | 000-51458 |   | 10.97  |   | 6/15/09 |   |   |
|         |   |                                                                                                                                                                                                     |   |   |   |      |   |   |   |    |   |   |
| 10.37† |   | Change Order Number 3 to Engineering, Procurement & Construction Management Agreement, dated February 19, 2009, by and between Hoku Materials, Inc. and Stone & Webster, Inc.                    |   | 10-K   |   | 000-51458 |   | 10.98  |   | 6/15/09 |   |   |

----

| 10.38† |   | Supply Agreement, dated as of February 27, 2009, by and between Hoku Materials, Inc. and Shanghai Alex New Energy Co., Ltd.                                                 |   | 10-K   |   | 000-51458 |   | 10.99  |   | 6/15/09 |         |   |
|--------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|---------|--------------|--------|
|         |   |                                                                                                                                                                        |   |   |   |      |   |   |   |    |         |   |
| 10.39† |   | Amended & Restated Supply Agreement, dated as of February 26, 2009, by and between Hoku Materials, Inc. and Jiangxi Jinko Solar Co., Ltd.                               |   | 10-K   |   | 000-51458 |   | 10.100 |   | 6/15/09 |         |   |
|         |   |                                                                                                                                                                        |   |   |   |      |   |   |   |    |         |   |
| 10.40† |   | Amendment No. 2 to Second Amended & Restated Supply Agreement, dated as of March 26, 2009 by and between Hoku Materials, Inc. and Solarfun Power Hong Kong Limited      |   | 10-K   |   | 000-51458 |   | 10.101 |   | 6/15/09 |         |   |
|         |   |                                                                                                                                                                        |   |   |   |      |   |   |   |    |         |   |
| 10.41† |   | Change Order Number 3 to Cost Plus Incentive Contract, dated March 27, 2009 by and between Hoku Materials, Inc. and JH Kelly LLC                                            |   | 10-K   |   | 000-51458 |   | 10.102 |   | 6/15/09 |         |   |
|         |   |                                                                                                                                                                        |   |   |   |      |   |   |   |    |         |   |
| 10.42        |   | Amended and Restated Electric Service Agreement, between Hoku Materials, Inc., and Idaho Power Company, dated as of June 19, 2009                                           |   | 8-K    |   | 000-51458 |   | 10.104 |   | 6/22/09 |    |   |
|         |   |                                                                                                                                                                        |   |   |   |      |   |   |   |    |         |   |
| 10.43        |   | First Amendment to the First Amended and Restated Supply Agreement between Hoku Materials, Inc. and Wuxi Suntech Power Co., Ltd., signed July 6, 2009                       |   | 8-K    |   | 000-51458 |   | 10.105 |   | 7/10/09 |         |   |
|         |   |                                                                                                                                                                        |   |   |   |      |   |   |   |    |         |   |
| 10.44        |   | Form of Entrustment Loan Contract by and among Tianwei New Energy Holdings Co. Ltd., China Construction Bank Chengdu Branch, Hoku Materials, Inc. and Hoku Scientific, Inc. |   | 8-K    |   | 000-51458 |   | 10.108 |   | 9/29/09 |         |   |
|         |   |                                                                                                                                                                        |   |   |   |      |   |   |   |    |         |   |
| 10.45† |   | Change Order Number 4 to Cost Plus Incentives Contract, dated September 18, 2009, by and between Hoku Materials, Inc. and JH Kelly LLC                                      |   | 10-Q   |   | 000-51458 |   | 10.109 |   | 11/9/09 |         |   |

----

| 10.46† |   | Amended and Restated Supply Agreement No. 1, dated as of December 22, 2009, between Tianwei New Energy Holdings Co. Ltd. and Hoku Materials, Inc. |   | 8-K/A |   | 000-51458 |   | 10.110 |   | 12/31/09 |   |   |
|--------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------|--------|-----------|--------|--------|--------|----------|--------|--------|
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
|--------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|----------|--------|--------|
| 10.47† |   | Amended and Restated Supply Agreement No. 2, dated as of December 22, 2009, between Tianwei New Energy Holdings Co. Ltd. and Hoku Materials, Inc.                                                     |   | 8-K/A  |   | 000-51458 |   | 10.111 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.48        |   | Form of Security Agreement (relating to Amended and Restated Supply Agreements No. 1 and No. 2), dated as of December 22, 2009, between Tianwei New Energy Holdings Co. Ltd. and Hoku Materials, Inc. |   | 8-K/A  |   | 000-51458 |   | 10.112 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.49        |   | Loan Implementation Agreement, dated December 22, 2009, among Hoku Scientific, Inc., Hoku Materials, Inc. and Tianwei New Energy Holdings Co. Ltd.                                                    |   | 8-K/A  |   | 000-51458 |   | 10.113 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.50        |   | Financing Backstop Agreement, dated December 22, 2009, between Tianwei New Energy Holdings, Co., Ltd. and Hoku Scientific, Inc.                                                                       |   | 8-K/A  |   | 000-51458 |   | 10.114 |   | 12/31/09 |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.51† |   | Amendment No. 1 to Amended and Restated Supply Agreement, dated as of November 25, 2009, between Jinko Solar Co., Ltd. and Hoku Materials, Inc.                                                       |   | 10-Q   |   | 000-51458 |   | 10.115 |   | 2/5/10   |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.52† |   | Amendment No. 3 to Second Amended and Restated Supply Agreement, dated as of November 15, 2009, between Solarfun Power Hong Kong Limited and Hoku Materials, Inc.                                     |   | 10-Q   |   | 000-51458 |   | 10.116 |   | 2/5/10   |   |   |
|         |   |                                                                                                                                                                                                  |   |   |   |      |   |   |   |     |   |   |
| 10.53† |   | Amendment No. 1 to Supply Agreement, dated as of December 30, 2009, between Shanghai Alex New Energy Co., Ltd. and Hoku Materials, Inc.                                                               |   | 10-Q   |   | 000-51458 |   | 10.117 |   | 2/5/10   |   |   |

----

| 10.54        |   | Consulting Agreement, dated as of March 1, 2010, between Dustin M. Shindo and Hoku Scientific, Inc.                                                                                   |   | 8-K    |         | 000-51458       |         | 10.118      |         | 3/5/10        |         |                                                   |
|--------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------|-----------------|--------------|-------------|--------------|---------------|--------------|--------------------------------------------------------|
|         |   |                                                                                                                                                                                  |   |   |         |            |         |        |         |          |         |                                                   |
| 10.55† |   | Change Order Number 4 to Engineering, Procurement & Construction Management Agreement, dated February 16, 2010, by and between Hoku Materials, Inc. and Stone & Webster, Inc. |   | 10-K   |    | 000-51458  |    | 10.55  |    |  7/14/10 |    |           |
|         |   |                                                                                                                                                                                  |   |   |         |            |         |        |         |          |         |                                                   |
| 10.56† |   | Amendment No. 4 to Second Amended and Restated Supply Agreement, dated as of March 1, 2010, between Solarfun Power Hong Kong Limited and Hoku Materials, Inc.                         |   | 10-K   |    | 000-51458  |    | 10.56       |    |  7/14/10 |    |           |
|         |   |                                                                                                                                                                                  |   |   |         |            |         |        |         |          |         |                                                   |
| 10.57† |   | Sales Agreement, dated as of March 31, 2010, between Evonik Degussa Corporation and Hoku Materials, Inc.                                                                              |   | 10-K   |    | 000-51458  |    | 10.57  |    |  7/14/10 |    |           |
|         |   |                                                                                                                                                                                  |   |   |         |            |         |        |         |          |         |                                                   |
| 10.58† |   | Second Amended & Restated Supply Agreement, dated as of March 31, 2010, by and between Hoku Materials, Inc. and Wealthy Rise International, Ltd.                                  |   | 10-K   |    | 000-51458  |    | 10.58  |    |  7/14/10 |    |           |
|         |   |                                                                                                                                                                                  |   |   |         |            |         |        |         |          |         |                                                   |
| 10.59        |   | Credit Agreement, dated May 24, 2010, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch                                                                    |   | 8-K    |         | 000-51458       |         | 10.119      |         | 5/26/10       |         |                                                   |
|         |   |                                                                                                                                                                                  |   |   |         |            |         |        |         |          |         |                                                   |
| 10.60        |   | Reimbursement Agreement, dated May 24, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                                                                       |   | 8-K    |         | 000-51458       |         | 10.120      |         | 5/26/10       |         |                                                   |
|         |   |                                                                                                                                                                                  |   |   |         |            |         |        |         |          |         |                                                   |
| 10.61        |   | Credit Agreement, dated June 30, 2010, between Hoku Corporation and China Construction Bank Corporation, New York Branch                                                              |   | 8-K    |         | 000-51458       |         | 10.121      |         | 6/30/10       |         |                                                   |

----

| 10.62        |   | Reimbursement Agreement, dated June 30, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                                 |   | 8-K    |         | 000-51458       |         | 10.122      |         | 6/30/10       |         |                                                   |
|--------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------|-----------------|--------------|-------------|--------------|---------------|--------------|--------------------------------------------------------|
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.63† |   | Amendment to the First Amended and Restated Supply Agreement between Hoku Materials, Inc. and Wuxi Suntech Power Co., Ltd., signed June 29, 2010 |   | 10-K   |    | 000-51458  |    | 10.63  |    |  7/14/10 |    |           |
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.64        |   | Credit Agreement dated August 16, 2010, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch                             |   | 8-K    |         | 000-51458       |         | 10.1        |         | 8/19/10       |         |                                                   |
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.65        |   | Credit Agreement, dated August 26, 2010, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch                            |   | 8-K    |         | 000-51458       |         | 10.1        |         | 8/30/10       |         |                                                   |
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.66        |   | Reimbursement Agreement, dated August 26, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                     |   | 8-K    |         | 000-51458       |         | 10.2        |         | 8/30/10       |         |                                                   |
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.67        |   | Credit Agreement, dated September 16, 2010, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch.                   |   | 8-K    |         | 000-51458       |         | 10.1        |         | 9/17/10       |         |                                                   |
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.68        |   | Reimbursement Agreement, dated September 16, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                       |   | 8-K    |         | 000-51458       |         | 10.2        |         | 9/17/10       |         |                                                   |
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.69        |   | Credit Agreement, dated October 8, 2010, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch.                      |   | 8-K    |         | 000-51458       |         | 10.1        |         | 10/12/10      |         |                                                   |
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.70        |   | Reimbursement Agreement, dated October 8, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                               |   | 8-K    |         | 000-51458       |         | 10.2        |         | 10/12/10      |         |                                                   |
|         |   |                                                                                                                                             |   |   |         |            |         |        |         |          |         |                                                   |
| 10.71        |   | Credit Agreement, dated October 18, 2010, between Hoku Corporation and China Construction Bank, Singapore Branch.                 |   | 8-K    |         | 000-51458       |         | 10.1        |         | 10/20/10      |         |                                                   |

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| 10.72                     |   | Reimbursement Agreement, dated October 18, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                                                        |   | 8-K    |         | 000-51458       |         | 10.2        |         | 10/20/10      |         |                                                   |
|---------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------|-----------------|--------------|-------------|--------------|---------------|--------------|--------------------------------------------------------|
|                      |   |                                                                                                                                                                                 |   |   |         |            |         |        |         |          |         |                                                   |
| 10.73†         |   | Change Order No. 5 dated August 17, 2010 between Hoku Corporation and JH Kelly, LLC.                                                                                                 |   | 10-Q   |    | 000-51458  |    | 10.10  |    |  2/18/11 |    |           |
|                      |   |                                                                                                                                                                                 |   |   |         |            |         |        |         |          |         |                                                   |
| 10.74††  |   | Amendment No. 5 to Second Amended and Restated Supply Agreement dated November 23, 2010 between Hoku Corporation and Solarfun Power Hong Kong Limited                                |   | 10-Q   |    | 000-51458  |    | 10.5   |    |  2/12/11 |    |           |
|                      |   |                                                                                                                                                                                 |   |   |         |            |         |        |         |          |         |                                                   |
| 10.75                     |   | Separation Agreement and Release dated November 30, 2010 between the Company and Karl Taft III                                                                                       |   | 8-K    |         | 000-51458       |         | 10.1        |         | 12/03/10      |         |                                                   |
|                      |   |                                                                                                                                                                                 |   |   |         |            |         |        |         |          |         |                                                   |
| 10.76††  |   | Change Order Number 5 to Engineering, Procurement & Construction Management Agreement, dated December 6, 2010, by and between Hoku Materials, Inc. and Stone & Webster, Inc. |   | 10-Q   |    | 000-51458  |    | 10.7   |    |  2/12/11 |    |           |
|                      |   |                                                                                                                                                                                 |   |   |         |            |         |        |         |          |         |                                                   |
| 10.77                     |   | Reimbursement Agreement, dated December 17, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                                                                 |   | 8-K    |         | 000-51458       |         | 10.1        |         | 12/27/10      |         |                                                   |
|                      |   |                                                                                                                                                                                 |   |   |         |            |         |        |         |          |         |                                                   |
| 10.78††       |   | Amendment No. 2 to Amended and Restated Supply Agreement dated December 18, 2010 between Hoku Corporation and Jinko Solar Company Limited                                            |   | 10-Q   |    | 000-51458  |    | 10.9        |    |  2/12/11 |    |           |
|                      |   |                                                                                                                                                                                 |   |   |         |            |         |        |         |          |         |                                                   |
| 10.79                     |   | Credit Agreement, dated December 20, 2010, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch.                                                             |   | 8-K    |         | 000-51458       |         | 10.2        |         | 12/27/10      |         |                                                   |

----

|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
|---------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------|-----------------|--------------|-------------|--------------|---------------|--------------|--------------------------------------------------------|
| 10.80               |   | Credit Agreement, dated December 23, 2010, between Hoku Corporation and Industrial and Commercial Bank of China, Ltd., New York Branch.       |   | 8-K    |         | 000-51458       |         | 10.1        |         | 12/28/10      |         |                                                   |
|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
| 10.81               |   | Reimbursement Agreement, dated December 23, 2010, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                          |   | 8-K    |         | 000-51458       |         | 10.2        |         | 12/28/10      |         |                                                   |
|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
| 10.82               |   | Credit Agreement, dated January 10, 2011, between Hoku Corporation and Industrial and Commercial Bank of China, Ltd., New York Branch         |   | 10-Q   |    | 000-51458  |    | 10.13  |    |  2/12/11 |    |           |
|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
| 10.83               |   | Reimbursement Agreement, dated January  10, 2011, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                |   | 10-Q   |    | 000-51458  |    | 10.14  |    |  2/12/11 |    |           |
|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
| 10.84               |   | Credit Agreement, dated February 7, 2011, between Hoku Corporation and CITIC Bank International Limited, New York Branch.                     |   | 10-Q   |    | 000-51458  |    | 10.15  |    |  2/12/11 |    |           |
|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
| 10.85               |   | Reimbursement Agreement, dated February 7, 2011, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                           |   | 10-Q   |    | 000-51458  |    | 10.16       |    |  2/12/11 |    |           |
|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
| 10.86               |   | Credit Agreement, dated February 25, 2011, among Hoku Corporation, Hoku Materials, Inc. and Bank of China, New York Branch                    |   | 8-K    |         | 000-51458       |         | 10.1        |         | 03/03/11      |         |                                                   |
|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
| 10.87               |   | Reimbursement Agreement, dated February 25, 2011, between Hoku Corporation and Tianwei New Energy Holdings Co., Ltd.                          |   | 8-K    |         | 000-51458       |         | 10.2        |         | 03/03/11      |         |                                                   |
|                |   |                                                                                                                                          |   |   |         |            |         |        |         |          |         |                                                   |
| 10.88†† |   | Amendment No. 2 to Supply Agreement, dated as of January 12, 2011, by and between Hoku Materials, Inc. and Shanghai Alex New Energy Co., Ltd. |   | 10-K   |         | 000-51458       |         | 10.88       |         | 7/15/11       |         |                                                   |

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| 10.89               |         | Credit Agreement, dated April 6, 2011, between Hoku Corporation and Industrial and Commercial Bank of China, Ltd., New York Branch                   |         | 8-K    |         | 000-51458       |         | 10.1       |         | 4/7/11        |         |                                                   |
|---------------------|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|--------|--------------|-----------------|--------------|------------|--------------|---------------|--------------|--------------------------------------------------------|
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                                                   |
| 10.90†† |         | Amended and Restated Sales Agreement, dated February 28, 2011, between Evonik Degussa Corporation and Hoku Materials, Inc.                           |         | 10-K   |         | 000-51458       |         | 10.90      |         | 7/15/11       |         |                                                   |
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                                                   |
| 16.1                |         | Letter from Ernst & Young LLP, dated December 3, 2010, to the United States Securities and Exchange Commission                                   |         | 8-K    |         | 000-51458       |         | 16.1       |         | 12/03/10      |         |                                                   |
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                                                   |
| 21.1                |         | Subsidiaries of Hoku Corporation                                                                                                                     |         | 10-K/A |         | 000-51458       |         | 21.1       |         | 7/29/09       |         |                                                   |
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                                                   |
| 23.1                |    | Consent of independent registered public accounting firm                                                                                             |    | 10-K   |    | 000-51458  |    | 23.1  |    |  7/14/10 |    |           |
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                                                   |
| 24.1                |    | Form 10-K Power of Attorney (included in signature page)                                                                                             |    | 10-K   |    | 000-51458  |    | 24.1  |    | 7/15/11       |    |           |
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                                                   |
| 31.1                |    | Form 10-K Certification of Chief Executive Officer required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended                     |    | 10-K   |         | 000-51458  |         | 31.1       |         | 7/15/11       |         |                                                   |
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                |
| 31.2                |    | Form 10-K Certification required of Chief Financial officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended    |    | 10-K   |         | 000-51458  |         | 31.2       |         | 7/15/11       |         |                                                   |
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                                                   |
| 31.3                |         | Form 10-K/A Certification of Chief Executive Officer required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended                   |         |   |         |            |         |       |         |          |         | *                                                      |
|                |         |                                                                                                                                                 |         |   |         |            |         |       |         |          |         |                                                   |
| 31.4                |         | Form 10-K/A Certification required of Chief Financial officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended  |         |   |         |            |         |       |         |          |         | *                                                      |

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| 32.1#  |    | Form 10-K Certification of Chief Executive Officer required by Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended |    | 10-K   |   | 000-51458  |   | 32.1   |   | 7/15/11 |         |       |
|--------|--------------|----------------------------------------------------------------------------------------------------------------------------------|--------------|--------|--------|-----------------|--------|--------|--------|---------|--------------|--------------------------------|
|   |         |                                                                                                                             |         |   |   |            |   |   |   |    |         |                           |
| 32.2#  |    | Form 10-K Certification of Chief Financial Officer required by Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended |    | 10-K   |   | 000-51458  |   | 32.2   |   | 7/15/11 |    |                           |

| †        | Confidential treatment has been granted for certain information contained in this document pursuant to an order of the Securities and Exchange Commission. Such information has been omitted and filed separately with the Securities and Exchange Commission.                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| †† | Confidential treatment has been requested for certain information contained in this document. Such information has been omitted and filed separately with the Securities and Exchange Commission.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| +              | Management contract, compensatory plan or arrangement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| #              | In accordance with Item 601(b)(32)(ii) of Regulation S-K and SEC Release Nos. 33-8238 and 34-47986, Final Rule: Management’s Reports on Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports, the certifications furnished in Exhibits 32.1 and 32.2 hereto are deemed to accompany this Form 10-K and will not be deemed “filed” for purpose of Section 18 of the Exchange Act. Such certifications will not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. |