Document:

Sales Representative Contract

 Exhibit 10.45 
  

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
 **** INDICATES CONFIDENTIAL MATERIAL OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED WITH THE SECURITIES AND EXCHANGE COMMISSION SEPARATELY WITH A REQUEST FOR CONFIDENTIAL TREATMENT. 
 SALES REPRESENTATIVE CONTRACT 
 

 
 Contract No./ 

: JSM-C-20090001 
 

 
 This sales representative contract (“Contract”) dated October 19th, 2009 has been entered
into by the following parties in Shanghai, PRC. 
 (1) 

 
 

 
 

: +86-793-8469699 
 Fax/

: +86-793-8461152 
 Jinko Solar Co., Ltd (Hereinafter referred to as “Party A”)

 Address: 1 Jinko Rd, Shangrao Economic Development Zone, Jiangxi Province, China 
 Telephone: +86-793-8469699 
 Fax: +86-793-8461152 
 (2) Yonatan Sussman; Tzach Itzhak Dotan 

 
 

 Yonatan Sussman: 8684932; Tzach Itzhak Dotan: 9859138 
 

 Tivon Habonim

 
 

 +972544610737        +972524260065 
 

 yonatansus@gmail.com 
 

 972-52-4260065 
 Yonatan Sussman; Tzach Itzhak Dotan Jinko Solar-Israel (under formation)
(Hereinafter referred to as “Party B”) 
 Passport No.: Yonatan Sussman: 8684932; Tzach Itzhak Dotan: 9859138 
 Address: 59 Habonim Street, Tivon Israel 36031 
 Telephone: +972544610737        +972524260065 
 Email: yonatansus@gmail.com 
 Mobile: 972-52-4260065 
  

 - 1/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 

 
 Whereas: 
  

	1.	

 

 Party A is a manufacturer and distributor of photovoltaic modules
(“Product”) and wishes to expand its global representative network; 
  

	2.	

 

 Party B possesses extensive information and resources about distributors and/or
terminal customers (together as “Customers”) of the Product; and desires to sell Party A’s products and services in accordance with the terms and conditions of this Agreement. 
  

	3.	

 

 Party A wishes to appoint Party B as its sales representative to assist Party A in
seeking potential Customers and opportunities to enter into transaction with the Customers, and Party B accepts such appointment. 
  

	4.	

 

 In the period of this Agreement, Party B must not sell or produce any solar panels
by other brands unless Party B gets Party A’s approval. Otherwise Party A can terminate this contract unilaterally. This restriction does not apply to components and other products such as inverters, cables, controllers, batteries etc.

 

 
 

 
 NOW, THEREFORE, pursuant to the relevant laws, regulations and policies of the PRC, the Parties, through
equal and friendly negotiation, hereby agree as follows: 
  

	1.	

 

 

 
  

 - 2/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 Appointment 
 Party A agrees to appoint Party B as its authorized exclusive representative to sell and promote all products and services provided by Party A in the following geographical area: ISRAEL hereinafter
referred to as “Territory”. 
  

	2.	

 

 

 
 Services 
 Party B shall devote such time, energy and skill on a regular and consistent basis as is necessary to sell and promote the sale of Party A’s products and services in the Territory during the term of
this Agreement. 
 In addition to the foregoing, Party B shall assist Party A and shall perform any and all services required or requested in
connection with Party A’s business, including, but not limited to, such services of an advisory nature as may be requested from time to time by Party A. Party B shall periodically, or at any time upon Party A’s request, submit appropriate
documentation of any and all sales and promotional efforts performed and to be performed for Party A pursuant to this Agreement. 
  

	3.	

 

 

 
 Quantities 
 Party B commits itself to maintaining a sales volume for Party A’s products of at least 1MWp during the first six (6) months and 5MWp in 2010, 10MW in 2011, 20MW in 2012 of this contract. Party
A will give Party B 20% cushion of the stipulated sales target

  

 - 3/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 
respectively in 2010, 2011 and 2012. If Party B does not achieve the minimum stipulated sales volume by the end of each above mentioned year, Party A may terminate this contract unilaterally.
After the active period of this contract, both Parties will establish an annual sales target, which will be reviewed every six months, and agreed upon by both Parties. If Party B does not achieve the minimum stipulated sales volume by the end of
each year, Party A may terminate this contract unilaterally. 
 

 
 Deposit 
 Party B commits itself to giving Party A USD**** as deposit fee of this contract, and pledges this payment shall be made effective by deducting it from the commissions due from the first orders. At the
end of 2010, the deposit will be returned to Party B if Party B achieves the sales volume stipulated in point 3.1. for this year, otherwise the deposit shall not be returned to Party B. 
  

	4.	

 

 Commission and Payment 
 4.1

 
 

 
 Preconditions 
 All the payments and commissions will be done in USD denomination. 
 In consideration of the
services provided by Party B, Party A shall pay a commission to Party B, provided that both of the following conditions have been satisfied: 
 (1) 

 
 Party B has performed the services stipulated in Section 2 and successfully procured Party A
to enter into Supply Contracts with the Customers it introduces to Party A (“Relevant Customer”); and 
 (2) 

 
  

	****	Confidential material omitted and filed separately with the Commission. 

  

 - 4/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 Party A has received the designated payment for each shipment of Product in full from the Relevant
Customer in accordance with the Supply Contract, including any advance payment, down payment, deposit and security paid by the Relevant Customer. 
 

 
 In the event that either of the above conditions fails to be satisfied, Party A is not obliged to make any
payment, in whole or in part, to Party B. 
 4.2

 
 

 
 Calculation of Commission 
 Party A shall provide Party B with a reference price in writing (“Reference Price”) which shall constitute an integral part of this Contract. Party A may provide Party B with more than one
Reference Price for each transaction. In the event that there are more than one Reference Prices available to Party B, the commission under this Contract shall be calculated on the basis of the latest Reference Price (“Latest Reference
Price”) provided by Party A prior to the execution of the relevant Supply Contract. Party B shall provide a sales price to the Customer that is higher than the Reference Price. Once accepted by the Customers, the sales price shall become the
contract price of the Supply Contract executed between Party A and the Relevant Customer (“Sales Price”). 
 

 
 Party B’s commission under this Contract shall be calculated as the difference between the Sales Price
and the Latest Reference Price (“Premium”) multiplied by the total power (W) number of each shipment of Product that the Relevant Customer has paid in full for pursuant to the Supply Contract. 
 4.3

 
 

 
  

	****	Confidential material omitted and filed separately with the Commission. 

  

 - 5/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 Referrals 
 Customers for areas other than the assigned Territory, that are referred to Party A by Party B, shall also be remunerated by a commission of **** % of the total amount of the first order, payable by Party
A to Party B. 
 4.4

 
 

 
 Taxes and Fees 
 Party B shall be responsible for paying its own taxes (including product, income, and services tax), charges and levies on all sums under this Contract. Party A shall deduct all taxes and financial fees
payable by Party B under the laws and regulations of the PRC from each payment made by Party A to Party B. 
 4.5

 
 

 
 Marketing budget 
 Party A will take upon itself to send and host in Israel Solar specialists from Jinko, at least 4 times a year, to help in the promotion of Jinko’s solar solutions and to meet with existing and
potential customers. 
 

 
 At the same time, Party A agrees to support Party B’s Marketing efforts in the Territory, by
contributing with **** USD per Wp (watt-peak) sold against proof of the Marketing expenses incurred in (specifically, invoices and printed proof of the advertisements and or campaigns incurred in); this payment will be made every time that the sales
volume of Party A’s products reaches 1 MWp (one Megawatt-peak). If by the time one payment has been done, there is still sales volume left, this difference will count for the next Marketing contribution. 
  

	****	Confidential material omitted and filed separately with the Commission. 

  

 - 6/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 4.6

 
 

 
 

 
 Payment 
 Upon Party A’s receipt of the full payment from a Relevant Customer for a shipment of Product, Party B shall issue a formal invoice to Party A indicating the amount of Commission equivalent to the
amount of the Premium multiplied by the total power (W) number of that shipment of Product. Party A undertakes that it shall make such payment in one full payment. (Party B takes upon itself to pay taxes to the relevant authorities) within ****
working days after receipt of the invoice issued by Party B and remit by T/T to the bank account designated by Party B below: 
 Opening Bank:

 Name: 
 Swift Code: 
 Bank Account: 
  

	5.	

 

 

 
 Exception Clause 
 In view of the fact that the Israel company M.G.A solutions Ltd. has placed order with Party A for 0.5M, this Agreement will not influence or affect this deal between Party A and M.G.A solutions Ltd. For
subsequent orders placed by M.G.A. Solutions Ltd. they will be dealt through Party B. Party B guarantees that it will offer at least the same price and conditions as they had from Party A, as long as these are never better than the conditions
obtained by Party B itself from Party A. 
  

	****	Confidential material omitted and filed separately with the Commission. 

  

 - 7/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

	6.	

 

 

 
 Party B shall send a detailed report to Party A quarterly, which should reflect the local market situation
and clients’ opinions. Party B shall also provide Party A with other suppliers’ information containing prices for the same kind of products, sales situation, commercial information and etc. 
  

	7.	

 

 

 
 Applicable Law 
 The Contract shall be entered into, governed and construed in accordance with the laws of the PRC. 
  

	8.	

 

 

 
 Resolution of Dispute 
 The Parties shall attempt to settle all disputes arising in connection with the Contract through friendly negotiation. If an amicable settlement cannot be reached by the Parties on their own accord within
sixty (60) days after the start of negotiations, the dispute shall be submitted to the China International Economic and Trade Arbitration Commission Shanghai Branch for arbitration, in accordance with its arbitration rules effective at the time
of application. 
  

	9.	

 

 9.1

 
 

 
  

 - 8/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 Confidentiality 
 During the Term of the Contract, the Parties shall treat as confidential all material, documents or information hereof acquired from each other in any way (be it financial exchange, technical support,
consulting service, equipment maintenance, training, intellectual property and name rights or other means, including but not limited to the Contract hereof). Without prior written consent from the other Party, neither Party shall disclose
confidential material, documents, or information to any third party or the public for any purpose unless otherwise required to do so by law. Meanwhile, except for its affiliates employees, lawyers, accountants or other advisers who is necessary to
be informed, or for IPO, and major information that USA Securities and Exchange Commission (SEC) required, neither Party shall disclose the confidential material to any others for any purpose. The Parties shall take all necessary or appropriate
actions to maintain the confidentiality of all confidential material, documents and information hereof. Any document that will be confidential should be marked and documented as confidential. 
 9.2

 
 The obligation of confidentiality stipulated in this Section shall remain valid and binding after
the expiration or termination of the Agreement, for both Parties and limited to 18 months. 
  

	10.	

 

 10.1

 
 

 
 Term and Termination 
 The term of the Contract shall be 10 years, commencing from October 19th, 2009 (the “Effective Date”) until October 18th, 2019 (the “Term”). In the two (2) months prior
to the expiration of the Term hereof, the Parties may discuss a renewal of the Contract and may enter into a new contract after friendly consultation, upon mutual agreement by Parties. 
 10.2

 
 All transactions resulting from all the customers that were in the pipeline should be noted and
still to be paid by Part A to Part B until 6 months after the termination of the contract. 
 10.3

 
 In the event that the Term of the Contract expires and the Parties fail to reach an agreement on
the renewal of the Contract, the Contract shall be automatically terminated upon the expiration of the Term hereof. 
  

 - 9/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 10.4

 
 

 
 In the event that Party B fails to perform the services hereunder in a faithful and honest manner, Party A
shall notify Party B in writing of the factual details of the reasons for such possible termination. If part B fails to send a satisfying written explanation to the factual details sent by party A within 14 working days, party A will be entitled to
terminate the Contract immediately by written notice within the Term of the Contract. 
  

	11.	

 

 

 
 Liability Breach 
 The Parties shall be in strict compliance with the Contract. In the event of any breach of the Contract, any consequence and liability arising from such breach shall be borne by the breaching Party.

  

	12.	

 

 

 
 Modification 
 The Parties shall settle any pending issues of the Contract through friendly negotiation. Any increase or removal of any provision of the Contract as agreed by the Parties shall not affect other
provisions. 
  

	13.	

 

 

 
 Relationship 
 Under no circumstances does this Contract confer any legal authority on Party B to act as an agent or legal representative of Party A for any purpose whatsoever. No joint venture relationship or
partnership exists between the Parties. Party B is not granted any express or implied right or authority to assume or to create any obligation or responsibility on behalf or in the name of Party A or to bind Party A in any manner whatsoever.

  

	14.	

 

 

 
  

 - 10/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 Transfer 
 Neither of the Parties shall, by any means, transfer its rights or obligations under the Contract without the prior written consent of the other Party. 
  

	15.	

 

 

 
 Independence 
 Upon the termination or expiration of the Contract, Sections 7, 8, 9, 11 and 15 hereof shall remain in force for a period of 3 months from the termination of the contract. At such case Party A assumes
full responsibility on all Jinko’s panels installed in Party’s B customers’ locations. 
  

	16.	

 

 

 
 Counterpart 
 The Contract is drafted and executed in Chinese and English. Each version shall have equal validity except that, in case of any discrepancy between the two versions, the English version shall prevail.

  

	17.	

 

 

 
 Effectiveness 
 The Contract shall be made in two counterparts with each Party holding each one version and shall take effect upon being signed and stamped by the Parties. 
 

 
 This Contract has been duly executed by the Parties or their duly authorized representatives on
[    ], 2009. 
 

 
 ADDENDUM: Reference Price 
 

 
  

 - 11/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

					
	

	 		 	

			
	Party A	 		 	Party B
			
	 /s/ Xiande Li
	 		 	 /s/ Tzach Itzhak Dotan; Yonatan Sussman

			
	

	 		 	

			
	Signature	 		 	Signature
			
	

	 		 	

			
	Date: October 19, 2009	 		 	Date: October 19, 2009

  

 - 12/13 - 

			
	

	  	 JINKO SOLAR CO., LTD.
 East Hope Plaza 12E, 1777 Century Ave., Pudong, Shanghai, China, 200122
 Tel:
+86-21-31268766 Fax: +86-21-68761115
 www.jinkosolar.com

  
  

 ADDENDUM: Reference Price 
 

 
 This addendum refers to contract No. JSM-C-20090001, and is an integral part of it. It is provided
by Jinko Solar Co. Ltd. (“Party A”) to Yonatan Sussman and Tzach Itzhak Dotan (“Jinko Israel” - under formation) (“Party B”). 
 

 JSM-C-20090001

 Yonatan Sussman, Tzach Itzhak Dotan

 
  

 - 13/13 -English translation of Maximum Amount Guarantee Contract

 Exhibit 10.46 
 **** INDICATES CONFIDENTIAL MATERIAL OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED WITH THE SECURITIES AND EXCHANGE COMMISSION SEPARATELY WITH A REQUEST FOR CONFIDENTIAL TREATMENT.

 MAXIMUM AMOUNT GUARANTEE CONTRACT 
 (the “Contract”) 
 Serial No.: JX Haining 2009 Personal Guarantee
062 
  

					
	Guarantor	  	:	  	 Xiande
Li                                         
                                         
      (the “Guarantor”)

	Identity No.	  	:	  	         ****

	Resident Address	  	:	  	  

	Telephone Number	  	:	  	  

	Post Code	  	:	  	  

	Cellphone Number	  	:	  	  

	Fax Number	  	:	  	  

			
	And	  		  	
			
	Creditor	  	:	  	 Bank of China, Haining Branch (the “Creditor”, together with the Guarantor, the
“Parties” and each, a “Party”)

			
	Responsible Person	  	:	  	 Zhongliang Jiang

			
	Domicile Address	  	:	  	 124-128 Wenyuannan Road, Haining City

			
	Tel.	  	:	  	 87295995

			
	Fax	  	:	  	 87225463

 In order to ensure the performance of the debt under the main contract (the “Main
Contract”) specified in Article 1 of this Contract, the Guarantor is willing to provide guarantee to the Creditor. This Contract is entered into by and between the Parties through equal negotiation. Unless otherwise provided herein, terms of
this Contract shall be interpreted in accordance with the Main Contract. 
  

	****	Confidential material omitted and filed separately with the Commission. 

 ARTICLE 1 MAIN CONTRACT (Fill in the blank with true information and delete any provision not
appropriate) 
 The Main Contract of this Contract is: 
 The Credit Line Agreement / General Agreement on Accredited Business numbered Haining 2009 authorized 088, any single agreement executed or to be executed under General Agreement
on Accredited, and any amendment and supplement thereunder entered between Creditor and ZHEJIANG JINKO SOLAR CO., LTD. (the “Debtor”). 
 Any loan, trade financing, letter of guarantees, capital business and other accredited business contract or agreement, and its amendments or supplements (named jointly as the “Single Contract”)
entered into by and between the Creditor and ZHEJIANG JINKO SOLAR CO., LTD. during the term from October 13, 2009 through October 12, 2010, and wherein stipulated that it is the main contract of this Contract. 
 ARTICLE 2 MAIN CREDITOR’S RIGHT & TERM OF OCCURRENCE 
 Unless otherwise stipulated by laws or agreed by the Parties, the creditor’s right occurring under the Main Contract during the following term shall constitute the main Creditor’s right under
this Contract (Fill in the blank with true information and delete any provision not appropriate): 
 The Credit Line Agreement / General
Agreement on Accredited Business numbered Haining 2009 authorized 088, any single agreement executed and or to be executed under General Agreement on Accredited, and any amendment and supplement thereunder as specified in Article 1
of this Contract. 
 The term from October 13, 2009 through October 12, 2010 as specified in Article 1 of this Contract.

 ARTICLE 3 MAXIMUM AMOUNT OF GUARANTEED CREDITOR’S RIGHT 
  

	3.1.	The maximum amount of the balance of the principal of the creditor’s right guaranteed by this Contract is as follows: 

 Currency: RMB. 
 (In words): RMB Fifty Million. 
 (In Arabic Numerals): RMB50,000,000.00 
  

	3.2.	 If the debt occurs in the term stipulated in Article 2 of this Contract and deemed as guaranteed by this Contract, any and all interests (including
statutory interests, agreed interests, compound interests, and penalty interests), liquidated damages, damages, expense for the realizing the creditor’s right (including but not limited to legal costs, attorney fees, notary public

  

 2 

	 	 
fees, execution costs, etc.), losses arising due to the Debtor’s breach of contract, and other fees payable shall also be deemed as the guaranteed amount, the specific amount of which shall
be determined at the time of the repayment. 

 The total amount fixed by Articles 3.1 and 3.2 is the maximum
amount guaranteed by this Contract. 
 ARTICLE 4 FORM OF GUARANTEE 
 The form of guarantee for the purpose of this Contract shall be joint and several liability guarantee. 
 ARTICLE 5 OCCURRENCE OF GUARANTEE LIABILITIES 
 In the event that the Debtor fails to pay back the debt to the Creditor as per
their agreement on any repayment due date or early repayment date as specified under the Main Contract, the Creditor may require the Guarantor to perform the guarantee liabilities. 
 The aforesaid repayment due date means the date when the principal, the interests or any other any payment agreed in the Contract is due; the aforesaid early repayment date means the payment date proposed
by the Debtor and accepted by the Creditor, or the date the Creditor requires the Debtor to repay the principal, the interests or any other payment according to the stipulations of the Contract. 
 Any mortgage, pledge and guarantee under other contracts of the Main Contract shall not prejudice the creditor’s right under this Contract, and shall
not be used by the Guarantor as a defense against the Creditor. 
 ARTICLE 6 GUARANTEE TERM 
 The guarantee term herein is two years from the expiration date of the term of occurrence as specified in Article 2 of this Contract. 
 Within the guarantee term, the Creditor may require the Guarantor to perform the guarantee liabilities in whole or in part, for multiple or a single sum,
collectively or respectively. 
  

 3 

 ARTICLE 7 RELATIONSHIP BETWEEN THIS CONTRACT AND THE MAIN CONTRACT 
 If the Main Contract contains a Credit Line Agreement / General Agreement on Accredited Business, written consent from the Guarantor is needed for any
extension made to the use period of credit line / business cooperation period. If the Guarantor’s consent is not obtained or the Guarantor dissents, the Guarantor shall only be responsible for the principal occurs in the original use period of
credit line / business operation period and in the original scope of the maximum amount of guaranteed debt as stipulated in Article 3 of this Contract. The guarantee term remains unchanged. 
 No Guarantor’s consent is required for changes or modifications made to other content or items of the Credit Line Agreement / General Agreement on
Accredited Business or to any single agreement thereof or to any single main contract. The Guarantor shall continue to undertake guarantee liabilities under the amended Main Contract as specified in Article 3 of this Contract. 
 Maximum amount of guarantee specified in Article 3 of this Contract may be changed in writing if Parties both agree. 
 No Guarantor’s consent is required when the Creditor entrust other institutions of Bank of China to perform the rights and obligations or transfer the
main debt to a third party, and the Guarantor’s liabilities is not reduced or exempted. 
 ARTICLE 8 REPRESENTATIONS AND UNDERTAKINGS

 The Guarantor hereby represents and undertakes that: 
  

	8.1.	The Guarantor has full and legitimate rights to sign and perform this Contract. 

  

	8.2.	The Guarantor fully understands the content of the Main Contract, executes and performs the Contract pursuant to the Guarantor’s genuine intention; the execution
and performance of the Contract will not violate any other binding contracts, agreements or legal documents entered by the Guarantor. 

  

	8.3.	The files and materials concerning the Guarantor that the Guarantor provides to the Creditor directly or through the Debtor are accurate, authentic and valid.

  

	8.4.	The Guarantor shall accept and fully cooperate with the Creditor’s supervision and examination on the Guarantor’s financial status. 

 

	8.5.	Guarantor has not concealed any material debt existing as of the date of the Contract from the Creditor. 

  

	8.6.	The Guarantor shall inform the Creditor immediately in the event of any conditions regarding the Guarantor’s financial status and perform ability, including but
not limited to the transfer of material assets or equity interest, involvement in the material litigation and arbitration and lost of civil capacity. 

  

 4 

 ARTICLE 9 AUTHORIZATION OF PERSONAL INFORMATION 
 The Guarantor authorizes the Creditor to inquire about the Guarantor’s personal credit report in the personal credit information basic database of the
People’s Bank of China when one of the following conditions occurs: 
  

	9.1.	When reviewing the Guarantor’s personal loan application; 

  

	9.2.	When reviewing the Guarantor’s personal security application; 

  

	9.3.	When administrating the Guarantor’s existing personal loan or personal security after the loan is issued; 

  

	9.4.	When reviewing the loan or security application from any legal entity or other organizations and the Guarantor is the legal representative or equity interest owner of
the legal entity or other organizations. 

 The Guarantor also authorizes the Creditor to submit the Guarantor’s personal
credit information to the personal credit information basic database of the People’s Bank of China. 
 ARTICLE 10 BREACH AND SETTLEMENT

  

	10.1.	The Guarantor shall be deemed as breach of the Contract under any of the following circumstance: 

  

	10.1.1.	The Guarantor fails to perform the guarantee liabilities in a timely manner in accordance with this Contract; 

  

	10.1.2.	The Guarantor provides an untrue representation or violates the undertakings in this Contract; 

  

	10.1.3.	The Guarantor’s ability to perform this Contract is severely compromised by the occurrence of instances as specified under Section 8.6 of this Contract;

  

	10.1.4.	The Guarantor has limited or no civil capacity; 

  

	10.1.5.	The Guarantor violates other stipulations regarding the Parties’ rights and obligations in this Contract; 

  

	10.1.6.	The Guarantor violates the stipulations of other guarantee between the Guarantor and the Creditor, or Guarantor and other institutions of Bank of China.

  

 5 

	10.2.	When the aforesaid breach arise, the Creditor may take any or all measures as follows: 

  

	10.2.1.	Require the Guarantor to rectify the breach within time limit; 

  

	10.2.2.	Decrease, suspend or terminate all or part of the credit lines of the Guarantor; 

  

	10.2.3.	Suspend or terminate all or part of the business application of the Guarantor and other contracts between the Guarantor and Creditor; partly or totally suspend or
terminate to grant and transact the unissued loan and trade financing; 

  

	10.2.4.	Declare that all or part of the unpaid loan/principal and interests of trade financing as well as other account payable to the Creditor under this Contract and other
contracts between the Guarantor and the Creditor shall become due immediately; 

  

	10.2.5.	Terminate or withdraw this Contract, partly or totally terminate or withdraw other contracts between the Parties; 

  

	10.2.6.	Require the Guarantor to compensate the Creditor for the Creditor’s loss caused by the Creditor’s breach; 

  

	10.2.7.	The Creditor may deduct the amount equivalent to all or part of the debt owned to the Creditor by the Guarantor from by notice in advance or afterwards to the
Guarantor. Any undue payment shall be deemed due ahead of schedule. If the currency in the Guarantor’s account is different from the applicable currency used by the Creditor in the business, Creditor may convert the currency in the account to
the applicable currency used by the Creditor in the business according to the exchange rate as of the date of deduction. 

  

	10.2.8.	Other measures deemed necessary by the Creditor. 

 ARTICLE 11 RESERVATION OF RIGHT 
 No failure to exercise all or part of the right under this Contract or require the other Party
to perform or assume all or part his obligation and responsibilities shall be deemed as a waiver of the right or release of the obligation and responsibilities. 
 No tolerance, grace or postponement of one Party to the other under this Contract may affect the rights under this Contract, or any laws and regulations, and may be deemed as a waiver of the right.

  

 6 

 ARTICLE 12 ALTERATION, AMENDMENT OR TERMINATION 
 This Contract can be amended or modified in writing through negotiation of the Parties, and any amendment or modification shall be deemed as an integral part
of this Contract. 
 This Contract may not be terminated until all the rights and obligations are preformed, unless otherwise stipulated in laws
and regulations or agreed by the Parties. 
 No invalid terms in this Contract may affect the legal validity of other terms, unless otherwise
stipulated in laws and regulations or agreed by the Parties. 
 ARTICLE 13 GOVERNING LAW AND DISPUTE SETTLEMENT 
 This Contract is governed by the laws of the People’s Republic of China. 
 Any dispute and controversy arising out of execution, performance of or in connection with this Contract shall be resolved through negotiation. In case negotiation fails to resolve the dispute, any Party
may resolve the dispute and controversy in accordance with the method stipulated in the Main Contract. 
 In the course of dispute settlement,
the Parties shall continue to perform other terms of this Contract that are not affected by the dispute. 
 ARTICLE 14 FEES 

Unless otherwise provided in laws or agreed by both Parties, the Guarantor shall be responsible for all the fees (including attorney fees) arising from
the execution and performing of this Contract or resolving the dispute under this Contract. 
 ARTICLE 15 APPENDIX 
 Any appendix agreed by both Parties is an integral part of this Contract, and shall have the same legal force with this Contract. 
 ARTICLE 16 MISCELLANEOUS 
  

	16.1.	Without the Creditor’s written consent, the Guarantor shall not assign or transfer any or all of the rights or obligations hereunder to the third party.

  

	16.2.	If the Creditor entrusts other institutions of Bank of China to perform the rights and obligations for business need, the Guarantor shall agree to the entrustment.
Other institutions of Bank of China authorized by the Creditor are entitled to all the rights under this Contract, and may submit any dispute under this Contract to the arbitration committee. 

  

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	16.3.	This Contract is legally binding on both Parties and their successors and assignees without prejudice to other provisions of this Contract. 

  

	16.4.	Unless otherwise agreed by the Parties, the addresses provided in this Contract shall be deemed as the contact address of both Parties. If there is an alternation of
the address of one Party, that Party shall immediately notify the other Party in writing. 

  

	16.5.	The title and business name in this Contract is used only for convenient reference, which shall not be used to interpret the terms or the rights and obligations of both
Parties. 

 ARTICLE 17 EFFECTIVENESS 
 This Contract becomes effective upon the execution of the Parties. 
 This Contract shall be in
triplicate, and each of the Guarantor, the Creditor and the Debtor holds one copy. Each copy has the same legal force. 
  

									
	Guarantor:	 	 /s/ Xiande Li
	 		 	Creditor:	 	 /s/ Bank of China Shangrao Branch

			
	10 (MM) 13 (DD) 2009 (YYYY)	 		 	10 (MM) 13 (DD) 2009 (YYYY)

  

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