<PAGE>
                                                                    EXHIBIT 10.3

Suntech Power Co., Ltd.                                     Employment Agreement

                          FORM OF EMPLOYMENT AGREEMENT

     This Employment Agreement (this "Agreement") is entered into on this 15th
June, 2005, by and between SUNTECH POWER CO., LTD. (the "Company"), and [NAME OF
EMPLOYEE], (the "Employee").

     WHEREAS, the Company has appointed the Employee to the position of
[POSITION/TITLE], and the Employee has accepted such appointment;

     WHEREAS, in connection with such appointment, the Company and the Employee
desire to enter into this Agreement;

     NOW, THEREFORE, in consideration of the Employee's appointment as
[POSITION/TITLE], and for other good and valuable consideration the receipt of
which is hereby acknowledged, it is agreed by the Employee and Company as
follows:

     SECTION 1. EMPLOYMENT

     The Company hereby employs the Employee as [POSITION/TITLE]. The term of
the employment, pursuant to this Agreement, will commence on ______, (the
"Commencement Date") and will continue until ___________("Employment Term"), or
the termination of this Agreement as described in Section 9 hereof, whichever
shall occur first. The Employee hereby accepts such employment.

     SECTION 2. JOB RESPONSIBILITIES

     The Employee shall perform such responsibilities during the Employment Term
as follows:

          (a)  Provision of advice to the company relating to technology choice
               and improvements

          (b)  Assist with improving the company production technology to
               improve device performance and/or reduce cost.

          (c)  Analyze devices and/or modules as required to identify causes of
               problems with production and assist with finding solutions to
               such problems.

          (d)  Provide training for staff in appropriate areas.

          (e)  Assist with assessment procedures for technician and production
               staff in relevant areas.

          (f)  Any other responsibilities as assigned by Dr. Shi.

     SECTION 3. REMUNERATION

     Subject to the terms and conditions of this Agreement, during the
Employment Term, the remuneration package is as follows:

          (a)  The working hour of the Employee shall be [_____]% of working
               hour per year, comprising [_____]% in attendance at the premises
               of the company and the other [_____]% working on company projects
               in other locations, primarily at [_____].

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Suntech Power Co., Ltd.                                     Employment Agreement

          (b)  The Employee shall receive a monthly salary of USD[_____] payable
               before the 10th of each month. The salary shall be paid directly
               into the banking account of the Employee.

          (c)  The Employee shall pay his own tax in compliance with the
               relevant laws and regulations of China.

          (d)  The Employee shall submit the working visa and other relevant
               applications to the local authority. The Company shall provide
               the necessary employment documents for the above mentioned
               applications.

     SECTION 4. FRINGE BENEFITS

     The Employee shall be entitled to participate in the following benefit
plans and programs:

          (a)  Transportation Benefits.

               (1)  The Company shall provide round trip tickets (business
                    class) between Shanghai and [location] for the Employee.

          (b)  Stock options.

          Stock options will be decided and arranged later in the year of 2005.
     This Section 4(b) shall not constitute to any promise or responsibility of
     the Company to the Employee on the stock options.

     SECTION 5. REIMBURSEMENT FOR EXPENSES DURING BUSINESS TRIPS

     The Company shall reimburse the Employee, in accordance with the Company's
policies and practices in effect from time to time, for all the Expenses
hereunder reasonably incurred by the Employee in performance of the Employee's
duties during business trips.

          (a)  Expenses shall include the transportation cost, accommodation
               fee, catering fee in business trip and shall be reimbursed upon
               the submission of receipts.

          (b)  Other expenses including the laundry fee, paid television fee and
               other private expenses shall be responsible by the Employee.

          (c)  Business trips aforesaid shall be approved by the Company.

     SECTION 6. EMPLOYEE INVENTIONS

          (a)  The term "Employee Inventions" means any and all processes,
               inventions, technology, computer programs, original works of
               authorship, designs, formulas, patents, discoveries, copyrights
               and all improvements, rights, and


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Suntech Power Co., Ltd.                                     Employment Agreement

               claims that are conceived, developed or reduced to practice by
               the Employee alone or with others.

          (b)  Any and all Employee Inventions which the Employee has conceived
               or made, or may conceive or make during the Employment Term using
               the Company's equipment, supplies, facilities or trade secret,
               directly or indirectly, connected with the Company's business,
               shall be the sole and exclusive property of the Company. The
               Employee agrees that all patentable and copyrightable works
               created by the Employee while working on company projects or
               under the Company's direction, in connection with the Company's
               business are "works made for hire" and the Employee hereby
               assigns all proprietary rights, including patent and copyright,
               in these works to the Company without further compensation.

          (c)  The Employee further agrees to (i) disclose promptly to the
               Company all such Employee Inventions which the Employee has made
               or may make while working on company projects solely, jointly or
               commonly with others, (ii) assign all such Employee Inventions to
               the Company, and (iii) execute and sign any and all applications,
               assignments or other instruments which the Company may deem
               necessary in order to enable it, at its expense, to apply for,
               prosecute, and obtain patents, copyrights, or other proprietary
               rights in China and foreign countries, or in order to transfer to
               the Company all right, title and interest in said Employee
               Inventions.

          (d)  Any Employee Inventions which the Employee can demonstrate to be
               developed entirely on the Employee's own time without using the
               Company's equipment, supplies, facilities or trade secret shall
               belong to the Employee. The Employee shall disclose promptly to
               the Company all such Employee Inventions.

          (e)  Inventions made by the Employee prior to his employment shall be
               notified to the Company. Eventual rights for utilisation of
               results from copyright work performed by the Employee shall
               exclusively belong to the Company. Any employee inventions
               developed through R&D projects at [institution/location] not
               funded by the company, shall be the property of
               [institution/location] or the appropriate funding organisation.
               For example, inventions arising from collaborative research
               between [institution/location] and [institution/location]
               relating to the use of inkjet printing in solar cell fabrication,
               and funded by these organisations, shall be the property of these
               organisations.

          (f)  Other provisions refer to Exhibit A hereunder.

     SECTION 7. CONFIDENTIAL INFORMATION.

          (a)  The Employee recognizes and acknowledges that he will have access
               to certain information of the Company and that such information
               is confidential and constitutes valuable, special and unique
               property of the Company. The parties agree that the Company has a
               legitimate interest in protecting the Confidential


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Suntech Power Co., Ltd.                                     Employment Agreement

               Information, which includes all the commercial and technological
               secrets and know-how and other confidential information of the
               Company. The parties agree that the Company is entitled to
               protection of its interests in the Confidential Information. The
               Employee shall not at any time, either during or subsequent to
               the term of this Agreement, disclose to others, use, copy or
               permit to be copied, except in pursuance of his duties for an on
               behalf of the Company, it successors, assigns or nominees, any
               Confidential Information of the Company (regardless of whether
               developed by the Employee) without the prior written consent of
               the Company.

          (b)  The parties agrees that in the event of a violation of this
               covenant against non-use and non-disclosure of Confidential
               Information, that the Company shall be entitled to a recovery of
               damages from Employee and/or an injunction against the Employee
               for the breach or violation or continued breach or violation of
               this covenant or the confidential agreement mentioned above.

          (c)  The Employee shall not issue any publications and papers
               containing any Confidential Information of the Company without
               the prior written consent of the Company.

          (d)  The Employee agrees to sign a Confidential Agreement in Exhibit A
               hereunder with the Company.

     SECTION 8. NON-COMPETITION

          (a)  During the Employment Term, the Employee shall devote his full
               business efforts (see 3(a)) and time to the Company. Employee
               agrees, during the Employment Term for a period of 6 months
               thereafter, not to actively engage in any other employment,
               occupation, consulting activity or business referral for any
               direct or indirect remuneration without the prior approval of the
               Company; provided, however, that Employee may serve in any
               capacity with any civic, educational or charitable organization,
               or as a member of corporate Boards of Directors or committees
               thereof, without the approval of the Company, unless there is a
               conflict of interest.

          (b)  During the Employment Term, the Employee shall declare any
               shareholdings and interest in other companies in which there is a
               conflict interest with the Company. (The employee holds [_____]
               shares in [institution/location], purchased for [_____] each in
               [_____].)

          (c)  Other provisions refer to Exhibit A hereunder.

     SECTION 9. TERMINATION OF EMPLOYMENT.

          (a)  Death of Disability. The Employee's employment shall terminate
               automatically upon the Employee's death. The Company shall be
               entitled to


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Suntech Power Co., Ltd.                                     Employment Agreement

               terminate the Employee's employment because of the Employee's
               Disability during the Employment Period. "Disability" means that
               the Employee has been unable for 30 consecutive business days, to
               perform the Employee's duties under this Agreement, as a result
               of physical or mental illness or injury. A termination of the
               Employee's employment by the Company for Disability shall be
               communicated to the Employee by written notice, and shall be
               effective on the 30th day after receipt of such notice by the
               Employee (the "Disability Effective Date"), unless the Employee
               returns to full-time performance of the Employee's duties before
               the Disability Effective Date. The Employee is entitled to the
               payment of ______________________.

          (b)  Termination by the Company. (i) The Company may terminate the
               Employee's employment for Cause. "Cause" means (A) the conviction
               of the Employee for the commission of a felony from which all
               final appeals have been taken, or (B) willful gross misconduct by
               the Employee in connection with his employment by the Company, in
               either case that results in material and demonstrable financial
               harm to the Company. The Company shall give the Employee prior
               written notice ______ days in advance of its intention to
               terminate the Employee's employment for Cause, setting forth in
               reasonable detail the specific conduct of the Employee that it
               considers to constitute Cause and the specific provision(s) of
               this Agreement on which it relies. The Employee is entitled to
               the payment of ______________________. (ii) The Company may
               terminate the Employee's employment without Cause by giving prior
               written notice ________ days in advance and the Employee is
               entitled to the payment of ______________________.

          (c)  Termination by Employee. (i) The Employee may terminate
               employment for Good Reason, which means any material breach of
               this Agreement by the Company that is not remedied by the Company
               promptly after receipt the remedy request from the Employee. A
               termination of employment by the Employee for Good Reason shall
               be effectuated by giving the Company prior written notice
               __________ days in advance of the termination, setting forth in
               reasonable detail the specific conduct of the Company that
               constitutes Good Reason and the specific provision(s) of this
               Agreement on which the Employee relies. The Employee is entitled
               to the payment of ______________________. (ii) The Employee may
               terminate employment without Good Reason with prior written
               notice ________ days in advance and the Employee is entitled to
               the payment of _______________________.

     SECTION 10. CONCLUDING PROVISIONS

          (a)  The validity, interpretation, construction and performance of
               this Agreement shall be governed by the laws of mainland of the
               Republic of China.

          (b)  The invalidity or unenforceability of any provision or provisions
               of this Agreement shall not affect the validity or enforceability
               of any other provisions of this Agreement, which shall remain in
               full force and effect.


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Suntech Power Co., Ltd.                                     Employment Agreement

          (c)  Except as other provided herein, this Agreement sets forth the
               entire agreement of the parties hereto in respect of the subject
               matter contained herein and supersede all prior agreements,
               promises, covenants, arrangements, communications,
               representations or warranties, whether oral or written, by any
               officer, employee or representative of any party hereto in
               respect of such subject matter. Except as other provided herein,
               any prior agreement of the parties hereto in respect of the
               subject matter contained herein is hereby terminated and
               cancelled.

          (d)  When the two parties dispute over this contract, both parties
               shall make their best effects to resolve the dispute through
               friendly consultation and mediation. If such consultation or
               mediation fails to resolve the dispute, either party may resort
               to legal procedure in the local court where the Company located.

          (e)  This Agreement shall have two (2) counterparts, each of which
               shall have the same legal effect.

                    [REMAINING PAGE INTENTIONALLY LEFT BLANK]


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Suntech Power Co., Ltd.                                     Employment Agreement

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
by their respective duly authorized representatives:

SUNTECH POWER CO., LTD.


By:
    ---------------------------------
(Authorized Signature of the Legal Representative)

Title: Chief Executive Officer

Place of Execution: Suntech Power Co., Ltd.


[NAME OF EMPLOYEE]


By:
    ---------------------------------
(Signature)

Place of Execution: Suntech Power Co., Ltd.


                                        7

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Suntech Power Co., Ltd.                                     Employment Agreement

Exhibit A

                 NON-DISCLOSURE, NON-COMPETITION AND PROPRIETARY
                              INFORMATION AGREEMENT

     In partial consideration and as a condition of my employment by Suntech
Power Co., Ltd. (the "Company"), and effective as of the date that my employment
by Company first commenced, I hereby agree as follows:

1.   NON-DISCLOSURE

     A.   I will hold all Company Confidential Information in confidence and
          will not disclose, use, copy, publish, summarize, or remove from the
          premises of Company any Confidential Information, except (a) as a
          necessary to carry out my assigned responsibilities as a Company
          employee, and (b) after termination of my employment, only as
          specifically authorized in writing by an officer of Company. However,
          I shall not be obligated under this paragraph with respect to
          information I can document is or becomes readily publicly available
          without restriction through no fault of mine. "CONFIDENTIAL
          INFORMATION" shall mean all information related to any aspect of the
          business of Company which is either information not known by actual or
          potential competitors of Company or is proprietary information of
          Company, whether of a technical nature or otherwise. Confidential
          Information includes inventions, disclosures, processes, systems,
          methods, formulae, devices, patents, patent applications, trademarks,
          intellectual properties, instruments, materials, products, patterns,
          compilations, programs, techniques, sequences, designs, research or
          development activities and plans, specifications, computer programs,
          source codes, costs of production, prices or other financial data,
          volume of sales, promotional methods, marketing plans, lists of names
          or classes of customers or personnel, lists of suppliers, business
          plans, business opportunities or financial statements.

     B.   I will safeguard and keep confidential the proprietary information of
          customers, vendors, consultants and other parties with which Company
          does business to the same extent as if it were Company Confidential
          Information. I will not, during my employment with Company or
          otherwise, use or disclose to Company any confidential, trade secret
          or other proprietary information or material of any previous employer
          or other person, and I will not bring onto Company's premises any
          unpublished document or any other properly belonging to any former
          employer without the written consent of that former employer.

2.   NON-COMPETITION

     A.   During my employment with Company, I will perform for Company such
          duties as it may designate from time to time and will devote my full
          time and best efforts to the business of Company and will not, without
          the prior written approval (i) an officer for Company if I am not an
          executive officer of Company or (ii) the board of Managers of Company
          if I am an executive officer for Company, (a) engage in any other
          professional employment or consulting, or (b) directly or indirectly
          participate in or assist any business which is a current or potential
          supplier, customer, or competitor of Company.


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Suntech Power Co., Ltd.                                     Employment Agreement

     B.   I agree that during the term of my employment with Company (whether or
          not during business hours), I will not engage in any activity that is
          in any way competitive with the business or demonstrably anticipated
          business of Company, and I will not assist any other person or
          organization in competing or in preparing to compete with any business
          or demonstrably anticipated business of Company.

     C.   During the terms of my employment by Company and for one year
          thereafter, I shall not directly or indirectly, without the prior
          written consent of Company, solicit, recruit, encourage or induce any
          employees, officers, consultants, contractors or subcontractors of
          Company to leave the employ of Company, either on my own behalf or on
          behalf of any other person or entity.

3.   PROPRIETARY INFORMATION

     A.   Upon termination of my employment, I will promptly return to Company
          all items containing or embodying Confidential Information (including
          all copies), except that I may keep my personal copies of (i) my
          compensation records, (ii)materials distributed to
          shareholders generally and (iii) this Agreement. All papers,
          records, data, notes, drawings, files, documents, samples, devices,
          products, equipment and other materials, including copies and in
          whatever form relating to the business of Company that I possess or
          create as a result of my Company employment, whether or not
          confidential, are the sole and exclusive property of Company. In the
          event of the termination or expiration of my employment, I will
          promptly deliver all such materials to Company.

     B.   All inventions, ideas, designs, circuits, schematics, formulas,
          algorithms, trade secrets, works of authorship, developments,
          processes, techniques, improvements, and related know-how which result
          from work performed by me, alone or with others, on behalf of Company
          or through access to Company confidential Information or property,
          whether or not patentable or copyrightable (collectively "INVENTIONS")
          shall be the property of Company, and to the extent permitted by law,
          shall be "works made for hire". I hereby assign and agree to assign to
          Company or its designee, without further consideration, my entire
          right, title and interest in and to all Inventions, including all
          rights to obtain, register, perfect and enforce patents, copyrights
          and other intellectual property protection for inventions. I will
          disclose promptly and in writing to the individual designated by
          Company or to my immediate supervisor all Inventions which I have made
          or reduced to practice. During my employment and for four years after,
          I will assist Company (at its expense) to obtain and enforce patents,
          copyrights and other forms of intellectual property protection on
          Inventions. If I use or disclose my own confidential information or
          intellectual property when acting within the scope of my employment or
          otherwise on behalf of Company, Company will have and I hereby grant
          Company a perpetual, irrevocable, worldwide royalty-free,
          non-exclusive, sublicensable right and license to exploit and exercise
          all such confidential information and intellectual property rights.

     C.   I have no entered into, and I agree I will not enter into, any
          agreement either written or oral in conflict with this Agreement or my
          employment with Company. I will not violate any agreement with or
          rights of any third party or,


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Suntech Power Co., Ltd.                                     Employment Agreement

          except as expressly authorized by Company in writing hereafter, use or
          disclose my own or any third party's confidential information or
          intellectual property when acting within the scope of my employment or
          otherwise on behalf of Company. Further, I have not retained anything
          containing any confidential information of a prior employer or other
          third party, whether or not created by me.

4.   MISCELLANEOUS

     A.   I agree that this Agreement is not an employment contract and does not
          purport to set forth all of the terms and conditions of my employment.
          However, the terms of this Agreement shall supercede any inconsistent
          terms and can only be changed by a subsequent written agreement signed
          by Company's Chairman of the Board and myself.

     B.   I agree that my obligation under paragraphs 1,2 and 3 of this
          Agreement shall continue in effect after termination of my employment,
          regardless of the reason or reasons for termination, and whether such
          termination is voluntary of involuntary on my part., and that Company
          is entitled to communicate my obligations under this Agreement to any
          further employer or potential employer of mine. My obligations under
          paragraphs 1,2 and 3 also shall be binding upon my heirs, executors,
          assigns, and administrators and shall inure to the benefit of Company,
          its subsidiaries, successors and assigns.

     C.   I agree that if one or more provisions of this Agreement are held to
          be illegal or unenforceable under applicable laws of the People's
          Republic of China, such illegal or unenforceable portion(s) shall be
          limited or excluded from this Agreement to be minimum extent required
          so that this Agreement shall otherwise remain in full force and effect
          and enforceable in accordance with its terms. I also understand that
          any breach of this Agreement will cause irreparable harm to Company
          for which damages would not be an adequate remedy, and, therefore,
          Company will be entitled to injunctive relief with respect thereto in
          addition to any other remedies.

     D.   I agree that this Agreement shall be executed in both English and
          Chinese and both language versions are equally effective.

     E.   I HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND AND ACCEPT THE
          OBLIGATIONS WHICH IT IMPOSES UPON ME WITHOUT RESERVATION, NO PROMISES
          OR REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN THIS
          AGREEMENT, I SIGN THIS AGREEMENT VOLUNTARILY AND FREELY, IN DUPLICATE,
          WITH THE UNDERSTANDING THAT ONE COUNTERPART WILL BE RETAINED BY
          COMPANY AND THE OTHER COUNTERPART WILL BE RETAINED BY ME.


                                       10

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Suntech Power Co., Ltd.                                     Employment Agreement

SIGNATURE


Name of Employee:
                  -------------------
                  (Signature)

Date:
      -------------------------------

ID Card No.:
             ------------------------

Home Address:
              -----------------------

Accepted and Agreed by: SUNTECH POWER CO., LTD.


By:
    ---------------------------------
(Authorized Signature of the Legal Representative)

Date:
      -------------------------------


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