Document:

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DISTRIBUTION CONTRACT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>July 30, 2008</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Contract No.: 860172</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Entered into by and between</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font: bold 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">CEEG (Shanghai) Solar Science Technology Co., Ltd. (CEEG SST)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">4H, No. 2272 Hongqiao Rd</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Hongqiao Business Center</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Shang Hai, P.R.China</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Tel: (+86)21-62376999</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Fax: (+86)21-62377038</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Hereinafter referred to as the &quot;<B>PRINCIPAL</B>&quot; or &quot;<B>CEEG SST</B>&quot;)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">And</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font: bold 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Sunvalley Solar, Inc</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">398 Lemon Creek Rd. Suite A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Walnut. CA91788, USA</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Tel: + 1-626-991-6898</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Hereinafter referred to as the &quot;<B>DISTRIBUTOR</B>&quot; or &quot;<B>SSI</B>&quot;) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">PRINCIPAL AND DISTRIBUTOR will be called as the &quot;<B>Party</B>&quot;
individually and &quot;<B>Parties</B>&quot; collectively hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Recitals</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRINCIPAL is registered under Business
Act of China and manufactures crystalline pholovoltaic modules at its wholly-owned manufacturing plants in P. R. China in the brand
name of &quot;CEEG Solar Science Technology&quot; or &quot;CEEG SST&quot;.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The DISTRIBUTOR is registered under Federal
Act of USA in California and is the solar power technology and system design and integration company active in the photovoltaic
market. Among other business activities, the DISTRIBUTOR distributes solar equipments including solar module and carries out various
solar system integration projects in USA market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The DISTRIBUTOR desires to act as a preferred
DISTRIBUTOR of PRINCIPAL's Mono/Poly Crystalline PV Modules (hereinafter referred to as &quot;Module&quot; or &quot;Modules&quot;
or &quot;Products&quot;) throughout States in USA and promote the sale of Products from the PRINCIPAL in USA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRINCIPAL desires to deliver and sell said
Modules to the DISTRIBUTOR and provide sales aids to the DISTRIBUTOR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOW, THEREFORE</B>, the Parties agree as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>I. Territory</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRINCIPAL grants a nonexclusive distribution
right to the DISTRIBUTOR to distribute the Products in the United States of America. The PRINCIPAL also grants more support to
DISTRIBUTOR within States of Nevada, Texas and Arizona in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>II. Type and Quantity of Modules, Prices,
Delivery Time </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each detailed transaction will be arranged
by the PRINCIPAL and DISTRIBUTOR through a specific purchase order including Types and quantities of the Modules which the DISTRIBUTOR
needs, together with the applicable specification, the prices, and the desired time of delivery after reached agreement by Parties.
But the stipulations set forth in this Contract apply in case of any contradiction with the said purchase orders.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All orders from DISTRIBUTOR are subject to
approval and final acceptance by PRINCIPAL. Price shall be set quarterly and revised from time to time by PRINCIPAL at its sale
discretion. For non-standard Products which are sold to DISTRIBUTOR for resale, the price shall be quoted to DISTRIBUTOR at time
of inquiry, provided that the inquiry is within thirty (30) calendar days of order entry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRINCIPAL shall provide some dummy modules
or small size modules of same product and other marketing materials to the DISTRIBUTOR for marketing purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>III. Labeling</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. The Product labels and trademarks of each
Module shall state the PRINCIPAL's name, each Module's serial number, indicate the nominal output as well as current and voltage
characteristics at standard test conditions (STC) of the type of Module concerned and bear a clear warning against hazardous behavior.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. The DISTRIBUTOR shall not, without the prior
written consent of the PRINCIPAL, alter or make any addition to the labeling or packaging of the Products displaying the Trade
Marks, and shall not alter, deface or remove in any manner any reference to the Trade Marks, any reference to the PRINCIPAL or
any other name attached or affixed to the Products or their packaging or labeling.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>IV. Port of Shipment/Port of Destination</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The port of shipment shall be Shanghai, P.R.
China or any other Chinese ports determined by the PRINCIPAL from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The port of destination will be the major USA
ports. The DISTRIBUTOR shall timely notify the PRINCIPAL of the port of destination for every single shipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>V. Packing/Shipping Mark</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. The packing shall be in accordance with
the international packing standards (no wood package, for example) and suitable for long distance ocean shipping freight transportation
and shall be well protected against moisture and shocks as well as disinfected. The well-packed PV-modules shall be shipped in
containers. The relevant service and operation instructions shall be enclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. The PRINCIPAL shall mark on each package
with fadeless paint tne package number, gross weight, net weight, measurement of the package as well as of each single Module,
the serial number and wattage of each single Module in the package concerned, the name of the Module type, the port of destination
and the wordings or imaged indications representing: &ldquo;Keep Away from Moisture&rdquo;, &ldquo;Handle with Care&rdquo; etc.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>VI. TITLE AND RISK OF LOSS/INSURANCE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. Risks of loss or damage, as well as any
additional costs due to events occurring after the time of delivery shall pass to the DISTRIBUTOR on delivery in accordance with
C.I.F. Incoterms 2000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. The PRINCIPAL also has to procure marine
insurance against the DISTRIBUTOR's risk of loss of or damage to the Products during the carriage only on minimum insurance coverage
in accordance with C.I.F Incoterms 2000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. The DISTRIBUTOR shall at its own cost maintain
insurance coverage against all risks which would normally be insured against by a prudent businessman in respect of products supplied
to it commencing from the time when the Products surpass the rail of the carrying vessel and extending until such time as title
in the Products passes to the DISTRIBUTOR in accordance with Par.1 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>VII. Price and Terms of Payment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. The price for each individual transaction
shall be fixed through negotiations between PRINCIPAL and DISTRIBUTOR, and subject to PRINCIPAL's final confirmation. All invoices
shall be in U.S. Dollars. To the extent that there is any conflict between the terms and conditions of this Agreement and of any
invoices, the terms of this Agreement shall apply. In the event that market conditions change. the Parties shall review the PRINCIPAL's
prices and make reasonable adjustments to allow the DISTRIBUTOR to maintain its competitive position in the market. Notwithstanding
the foregoing, all price increases shall be effective upon a minimum of one (1) month's written notice.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. The PRINCIPAL shall grant the DISTRIBUTOR
fifty (50) days payment term from the date that the goods has been delivered to the destination port, at which time payment shall
be due and payable from the DISTRIBUTOR to the PRINCIPAL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>VIII. Documents </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRINCIPAL shall send the following documents
immediately to the DISTRIBUTOR via an international bank for the respective shipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. Full set (including 3 originals) of shipped
on board Bill of Ladings made out to this Contract and blank endorsed and consigned to the DISTRIBUTOR, marked &quot;Freight Prepaid&quot;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. Signed Commercial Invoice in 2 originals
indicating contract number issued by the PRINCIPAL. Packing list (including 3 originals) with indication of weights, measurements
and quantity issued by the PRINCIPAL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. Flash reports stating the Module type, serial
number, Isc, Voc, Imp, Vmp, Pmax by Fax or E-mail to DISTRIBUTOR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Within 5 working days after receiving the shipping
documents from the PRINCIPAL's shipping forwarder, the PRINCIPAL has to fax or e-mail or courier one copy of the Bill of Lading
and one copy of the Commercial Invoice to the DISTRIBUTOR. The number of the documents and their contents shall be complete and
correct. If the DISTRIBUTOR fails to pass the customs and to take over the Products in time due to the PRINCIPAL not having provided
the documents as specified above, all losses caused by the PRINCIPAL's fault shall be borne by the PRINCIPAL.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>IX. Shipments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">C.I.F. USA port (Incoterms 2000).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Unless otherwise agreed in writing between
the Parties, Cost Insurance and Freight Incoterms 2000 shall apply to this Contract. If there is any conflict between such Incoterms
and the terms of this Contract then the terms of this Contract shall prevail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The particulars of the shipment including the
name of the vessel, date, quantity and value of shipment are to be e-mailed or faxed to the DISTRIBUTOR within 2 working days after
such information received from the PRINCIPAL's shipping forwarder so that the DISTRIBUTOR can arrange for the Customs Clearance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>X. Warranties</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>PRINCIPAL's warranties</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The PRINCIPAL guarantees that the products shall be made of qualified materials with first
class workmanship, that they shall be brand new and unused and that they shall comply in all respects with the quality and specification
stipulated in this Contract including its attachments and that they shall be in conformity with the relevant technical data.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. The PRINCIPAL guarantees that the Modules
are manufactured according to UL 1703 standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. Furthermore, the PRINCIPAL shall issue a
written warranty for his products with the following content:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">A Product Quality Warranty stating that the Products shall be free from defects in material
and workmanship for Five years. If, within 60 months counting from the date of receipt of the Product at destination, damages or
defects occur in the course of operation because of inferior quality, bad workmanship or the use of inferior materials in the manufacturing
process, the PRINCIPAL shall, upon notice by the DISTRIBUTOR with authentic and sufficient evidence, immediately repair, replace,
or make adjustments to the default products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">(2)</FONT><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">A Power Performance Warranty stating that the power degradation of the Products' originally
rated power as determined under Standard Test Conditions (1000W/m2, 25'C cell temperature, AM=1.5) shall not be greater than 10%
within 10 years and 20% within 25 years, 10%, 25, 20%.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4. This warranty shall lead to the consequence
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">(1) if, within 60 months
counting from the date of receipt of the Product at destination, damages or defects occur in the course of Operation because of
inferior quality, bad workmanship or the use of inferior materials in the manufacturing process, the PRINCIPAL shall, upon notice
by the DISTRIBUTOR with authentic and sufficient evidence, immediately repair, replace the defective Products. Costs for transportation
of the default and replacing modules and installation costs shall be borne by the PRINCIPAL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">(2) if it is determined
that under Standard Test Conditions (STC, 1000 W/m2, 25&ordm;C, AM=1.5) Products supplied by the PRINCIPAL to the DISTRIBUTOR do
not meet the warranted percentage of its specified power output during the warranty term, the PRINCIPAL shall execute the remedy
as stipulated in its warranty statement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">5. Warranties shall not cover damages, malfunctions
or service failures caused by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Errors made during installation, operation
or maintenance,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Abuse or misuse,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Actions of third parties and other events
or accidents outside the reasonable control and not arising under normal operating conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Where inspection of the defective product indicates
with sufficient evidence of improper installation, operation or maintenance, the DISTRIBUTOR shall reimburse PRINCIPAL its costs
for the replacement or repaired the Product including costs of examination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>DISTRIBUTOR'S Warranties</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. DISTRIBUTOR guarantees that it will actively
and diligently promote the sale of the Products in USA during the Term of this Contract. The PRINCIPAL should make effort to refer
sales leads in the States of Nevada, Texas and Arizona less than one MW in size to the distributor and consult the distributor
for sales leads larger than one MW. The PRINCIPAL should refer to DISTRIBUTOR inquiries in the States of Nevada, Texas and Arizona
less than one MW in size.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. DISTRIBUTOR warrants that it will undertake
to orders for the Products during the effective period of this Contract for not less than 3, 000,000 Watts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. DISTRIBUTOR warrants that it will promote
in USA the PRINCIPAL's brand names and the Products during the Term hereof. DISTRIBUTOR agrees to notify PRINCIPAL of any leads
of interest granted for any Product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4. The DISTRIBUTOR guarantees that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">i. It shall not conduct
any reverse engineering activities upon the Products and shall be liable for any infringement in relevant to any Intellectual Property
Right owned by the PRINCIPAL thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">ii. It shall take full
responsibility to paste any trademark, mark, slogan, company name or whatever any other mark upon the Products except those of
the PRINCIPAL's. And the PRINCIPAL should be exempted from any disputes relating to aforesaid marks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XI. Effective Date, Duration, Termination</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. This Contract shall come into effect after
both Parties have signed it (&quot;Effective date&quot;). and shall initially remain in effect until December 31st, 2010 (&quot;Expiration
Date. This Contract shall be extended upon expiration for another calendar year unless DISTRIBUTOR does not meet the minimum distribution
goals as defined in Exhibit I (&quot;Minimum Turnover&quot;), or the two parties cannot agree on the minimum distribution goals
for the next year, or previously terminated by either party for any other reason upon not less than thirty (30) calendar days prior
written notice to the other party, with a six (6) month probation, or the Parties agree on an extension prior to the Expiration
Date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. If the DISTRIBUTOR becomes insolvent or
bankrupt or breaches a provision of this Contract and does not commence to remedy such breach within thirty (30) calendar days
of written notice by the PRINCIPAL, the PRINCIPAL may terminate this Contract in whole or in part effective thirty (30) calendar
days after said notice was given. If the PRINCIPAL becomes bankrupt or insolvent or breaches a material provision hereof and does
not commence to remedy such breach within thirty (30) calendar days of being given written notice by the DISTRIBUTOR, the DISTRIBUTOR
may terminate this Contract in whole or in part effective thirty (30) calendar days after such notice was given,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. In regard to any orders already been made
by DISTRIBUTOR before the expiration or termination of this Contract, this Contract shall fully remain in effect beyond the respective
expiration or termination date. The foregoing shall not apply, if this Contract is terminated by PRINCIPAL due to DISTRIBUTOR's
bankruptcy or insolvency. However, PRINCIPAL should be listed in the No. 1 position of DISTRIBUTOR's liquidation to make up PRINCIPAL's
loss brought by contract termination between two parties.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XII. Claims</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. Within 15 days after the arrival of the
Products at final CIF Port destination should the specification, quantity or appearance of the modules be found, not to be in conformity
with the stipulations of this Contract, except for those claims for which the insurance company or the owners of the vessel are
liable, the DISTRIBUTOR shall, based on the Inspection Certificate issued by an office of the Authorized Administration of Import
and Export Commodities Inspection of the importing country, negotiate with PRINCIPAL to either claim replacement with new Products
(in case of total failure), or financial compensation limited to the cost of the Products in question.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. The PRINCIPAL, upon verification of the
DISTRIBUTOR's claim, shall be responsible for complete or partial replacement of the commodity or shall devaluate the Products
according to the state of defects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4. The PRINCIPAL shall not be held responsible
for the delay in shipment or non-delivery of the Products, or for failure to manufacture, deliver or perform due to the acts of
the DISTRIBUTOR including failure of the DISTRIBUTOR to supply to the PRINCIPAL in a timely manner with all necessary information,
required sample parts or other specified items required by PRINCIPAL to design, manufacture and test the Product.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XIII. Force Majeure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRINCIPAL shall not be held responsible
for the delay in shipment or non-delivery of the due to Force Majeure, such as war, severe fire, flood, typhoon, earthquake, labour
strike or riots which might occur during the process of manufacturing or in the course of transportation, loading or transit, or
such Force Majeure at any key suppliers of the PRINCIPAL; The PRINCIPAL shall inform the DISTRIBUTOR immediately of the occurrence
of an instant mentioned above and within fifteen days thereafter, the PRINCIPAL shall send by fax or e-mail or courier to the DISTRIBUTOR
for their acceptance a certificate of the accident issued by the relevant government authority where the incident occurred as evidence
thereof. Under such circumstances, the PRINCIPAL, however, shall still be under the obligation of taking all necessary measures
to hasten the delivery of the Products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XIV. Choice-of-Law Clause</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All matters relevant to this Contract shall
be governed by and interpreted in accordance with the laws of the State of California and of the United States without giving effect
to the doctrine of conflict of laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XV. Taxes and Duties</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All taxes and duties in connection with the
execution of this Contract shall be paid as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1. Charged by the Chinese
government or bank shall be borne by the PRINCIPAL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">2. Charged by the government
or bank of the importing country shall be borne by the DISTRIBUTOR.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XVI. PRINCIPAL Standard Warranty Statement
and Conditions of Sales</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">PRINCIPAL standard warranty statement and conditions
of sales should apply to any issues not specifically covered by this Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XVII. Entire Contract and Amendments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. In respect of the this Contract and without
consideration of the subsequent purchase order or conditions of sale for each separate sale, this Contract including EXHIBIT I
shall constitute an integral part of the entire Contract between the Parties with regard to its subject matter. This Contract shall
supersede all other prior oral or written Contracts between the Parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. Any amendments to, or modifications of this
Contract shall become effective only when in writing and signed by the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. Headings of this Contract are only for the
purpose of reference, and have no influence to the interpretation of this Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XVIII. Severability Clause</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event any provision of this Contract
proves unenforceable or invalid for whatever reason, the remaining provisions of this Contract shall be unaffected by such holding,
but remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">IN WITNESS THEREOF, this Contract is made in
English and signed by both Parties in two original copies, each Party holds one copy. This Contract is effective from the date
both Parties have signed.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>XIX. Others.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">Parties should communicate and exchange
customer info per month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">

<TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">/s/
CEEG SST.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Location, Date, Stamp and Signature of CEEG SST.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">

<TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">/s/
Sunvalley Solar, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Location, Date, Stamp and Signature of Sunvalley Solar, Inc</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Chinese translation has been omitted)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Exhibit I </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Minimum Turnover;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not less than 3, 000,000 Watts per year during
the effective period of this Contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>WebFilings | EDGAR view

 

 
 
Exhibit 10.1
 
EXECUTION VERSION
 
 
FIRST AMENDMENT
 
This First Amendment, dated as of May 6, 2011 (this “Amendment”), to the Amended and Restated Credit Agreement, dated as of October 15, 2010 (as in effect the date of this Amendment,  the “Credit Agreement”), among First Solar, Inc., a Delaware corporation (the “Company”), the Borrowing Subsidiaries (as defined in the Credit Agreement, and together with the Company, the “Borrowers”),  the various financial institutions and other persons from time to time party thereto (the “Lenders”), Bank of America, N.A. and The Royal Bank of Scotland plc, as the documentation agents, Credit Suisse, Cayman Islands Branch, as the syndication agent, and JPMorgan Chase Bank, N.A., as the administrative agent (in its capacity as the administrative agent, the “Administrative Agent”).
 
W I T N E S S E T H:
 
WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make, and have made, certain loans and other extensions of credit to the Borrowers;
WHEREAS, the Borrowers have requested that the Credit Agreement be amended in the manner set forth herein; and
WHEREAS, the Required Lenders are willing to agree to this Amendment on the terms, and subject to the conditions, set forth herein.
NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and obligations set forth herein and other good and valuable consideration, the adequacy and receipt of which is hereby acknowledged, and in reliance upon the representations, warranties and covenants herein contained, the parties hereto, intending to be legally bound, hereby agree as follows:
1.    Defined Terms.  Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement.  
2    Termination of Borrowing Subsidiary.  Effective as of the First Amendment Effective Date (as defined in Section 4 below) (a) the German Manufacturing Subsidiary shall cease to be a Borrowing Subsidiary and shall no longer be a party to, or have any obligations under, any Loan Document, (b) all guarantees of, and Liens securing, obligations of the German Borrower under any Loan Document shall be released and terminated and (c) any and all provisions of the Loan Documents imposing obligations on any Loan Party in respect of guarantees of, or Liens securing, obligations of the German Borrower under the Loan Documents shall cease to apply.  The Required Lenders hereby authorize the Administrative Agent to take, or cause to be taken, such actions as shall be necessary or appropriate to evidence or give effect to the release and termination of guarantees and Liens as provided above and the termination of any related Security Documents.
3.    Amendments to the Credit Agreement.  The Credit Agreement shall be amended as of the First Amendment Effective Date as provided below. 
(a)    Definitions.  The definitions in the Credit Agreement of the terms “Borrowing 

 

 

Subsidiary”, “European Restructuring” and “German Manufacturing Subsidiary” are hereby amended and restated in their entirety as follows:
“Borrowing Subsidiary”:  any Restricted Subsidiary designated as a Borrowing Subsidiary pursuant to Section 2.22.
“European Restructuring”:  the restructuring of First Solar Holdings GmbH and its existing subsidiaries, to be effected pursuant to a series of steps involving the formation and capitalization of new Wholly Owned Subsidiaries of the Company, intercompany transactions, investments and asset transfers, and mergers and changes of legal form of certain Wholly Owned Subsidiaries of the Company, with the result that, after giving affect thereto, (a) the German Manufacturing Subsidiary (which will be the survivor of a merger involving the existing German Manufacturing Subsidiary) is an indirect Wholly Owned Subsidiary of the Company organized in Germany, (b) First Solar Holdings GmbH (or its successor) and its existing Restricted Subsidiaries (or their successors), along with any Wholly Owned Subsidiaries of the Company formed in connection with, and surviving after giving effect to, such restructuring that are the direct or indirect parent of a Restricted Subsidiary, are Restricted Subsidiaries of the Company owned, directly or indirectly, by a newly‐formed holding company (“European Holdco”) that is a Restricted Subsidiary and (c) European Holdco and all such Restricted Subsidiaries have complied with Section 6.9, to the extent applicable at the time.
“German Manufacturing Subsidiary”:  First Solar Manufacturing GmbH or, upon consummation of the European Restructuring, the survivor of any merger involving First Solar Manufacturing GmbH.
(b)    Section 7.2(A)(f).  Section 7.2(A)(f) of the Credit Agreement is hereby amended and restated in its entirety as follows:
(f)    additional Indebtedness of the Restricted Subsidiaries other than the Specified Restricted Subsidiaries incurred to finance the construction or acquisition of new manufacturing facilities and assets relating thereto in an aggregate principal amount, together with (i) the aggregate principal amount of any Indebtedness of the Company secured as permitted under Section 7.3(u) and (ii) the aggregate amount of Guarantee Obligations incurred pursuant to Section 7.2(B)(b), not to exceed $700,000,000 at any one time outstanding; provided that additional Indebtedness availability pursuant to this Section 7.2(A)(f) at the Malaysian Manufacturing Subsidiary shall be limited to term Indebtedness in a principal amount not to exceed $150,000,000 plus €80,000,000 and additional Indebtedness availability at the German Manufacturing Subsidiary shall be limited to term Indebtedness in a principal amount not to exceed €130,000,000; provided, further, that any such new term Indebtedness at the Malaysian Manufacturing Subsidiary or the German Manufacturing Subsidiary, once all contemplated draw-downs have been made, shall not be increased, but may be extended or refinanced at any time so long as the final maturity thereof is not shortened (except if to a maturity date occurring after the Revolving Termination Date) and any interim amortization is at no time greater than as provided in such new term Indebtedness;
(c)    Section 7.3(u). Section 7.3(u) of the Credit Agreement is hereby amended and restated in its entirety as follows:
(u)    Liens not otherwise permitted by this Section securing Indebtedness of the 

 

 

Company incurred to finance the construction or acquisition of new manufacturing facilities and assets relating thereto, or Indebtedness of any Restricted Subsidiary permitted by Section 7.2(A)(f), so long as the aggregate outstanding principal amount of such Indebtedness does not exceed (as to all Group Members) $700,000,000 at any one time and such Liens are on the new manufacturing facilities and assets relating thereto financed thereby and other related assets (which may include, without limitation, a debt reserve not exceeding a commercially reasonable amount); and
(d)    Section 7.13. Section 7.13 of the Credit Agreement is hereby amended to (i) replace the word “and” immediately before clause (vi) therein with a comma and (ii) add the following new clause (vii) at the end thereof:
and (vii) restrictions of the type referred to in clause (c) above with respect to Indebtedness of the German Manufacturing Subsidiary permitted pursuant to Section 7.2(A)(f); provided that in the case of Indebtedness of the German Manufacturing Subsidiary permitted pursuant to Section 7.2(A)(f), the restrictions permitted in clauses (vi) and (vii) shall be limited to those in effect (or proposed) on the First Amendment Effective Date (the “Original Restrictions”) and any replacement or modification thereof that does not have the effect of imposing (except when a default exists thereunder) materially greater limitations, as reasonably determined by the Administrative Agent, on transfers of cash by the German Manufacturing Subsidiary than those imposed by the Original Restrictions.
(e)    Section 8(e). Clause (e) of Section 8 of the Credit Agreement is hereby amended and restated in its entirety as follows:
(e)    (A) any Group Member shall (i) default in making any payment of any principal of any Indebtedness (including any Guarantee Obligation, but excluding the Loans) on the scheduled or original due date with respect thereto; or (ii) default in making any payment of any interest on any such Indebtedness; or (iii) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, in each of clauses (ii) and (iii) beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created, the effect of which default or other event or condition is to cause, or to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required (or, in the case of any such Indebtedness constituting a Guarantee Obligation, the taking of enforcement action against the underlying obligor), such Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee Obligation) to become payable; or (B) any Person (other than a Group Member) shall (i) default in making any payment of any principal of any Indebtedness covered by a Guarantee Obligation of a Group Member on the scheduled or original due date with respect thereto; or (ii) default in making any payment of any interest on any such Indebtedness; or (iii) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, in each of clauses (ii) and (iii) beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created, the effect of which default or other event or condition is to cause, or to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or to become payable; provided, that a default, event or condition described in clause (A)(i), (A)(ii), (A)(iii), (B)(i), (B)(ii) or (B)(iii) of 

 

 

this paragraph (e) shall not at any time constitute an Event of Default unless, at such time, one or more defaults, events or conditions of the type described in clauses (A)(i), (A)(ii), (A)(iii), (B)(i), (B)(ii) or (B)(iii) of this paragraph (e) shall have occurred and be continuing with respect to Indebtedness the outstanding principal amount of which exceeds in the aggregate $20,000,000, provided, further, that this paragraph (e) shall not apply to (i) Indebtedness that becomes due, or under which a default occurs, as a result of the voluntary sale or transfer of property or assets if such sale or transfer is permitted hereunder and such Indebtedness is paid by or on behalf of the relevant obligor or (ii) Indebtedness that becomes due as a result of a refinancing thereof permitted under Section 7.2(A);
(f)    Schedule 6.11.  Schedule 6.11 to the Credit Agreement is hereby amended by deleting all items listed thereon except for items No. 9 and No. 13.
4.    Conditions Precedent. This Amendment shall become effective on the date (the “First Amendment Effective Date”) on which (a) the Administrative Agent shall have received counterparts of this Amendment, duly executed by the Company, the German Borrower, the Administrative Agent and the Required Lenders, and (b) the Company shall have paid to each consenting Required Lender who has delivered to the Administrative Agent an executed counterpart of this Amendment by May 6, 2011 a work fee of US$5,000.00.
 
5.    Representations and Warranties. To induce the Lenders and the Administrative Agent to enter into this Amendment, the Company hereby represents and warrants to the Administrative Agent and each Lender that: 
(a)    after giving effect to this Amendment, each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents is true and correct in all material respects on and as of the date hereof as if made on and as of such date, except for representations and warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date;
(b) each of the Borrowers has taken all necessary action to authorize the execution, delivery and performance of this Amendment, this Amendment has been duly executed and delivered by each of the Borrowers, and this Amendment is the legal, valid and binding obligation of the Borrowers, enforceable against each in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws affecting the enforcement of creditors' rights generally and by principles of equity; and
(c)    at the time of and immediately after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.
6.    Expenses.  The Company agrees to pay and reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and expenses incurred in connection with the preparation and delivery of this Amendment, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent, in accordance with and to the extent required by Section 10.5 of the Credit Agreement.
7.    Reference to and Effect on the Loan Documents.
(a)        Except as expressly amended hereby, all of the terms and provisions of the Credit Agreement and all other Loan Documents are and shall remain in full force and effect and are 

 

 

hereby ratified and confirmed.
(b)        Nothing herein shall be deemed to entitle the Borrowers to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any Loan Document in similar or different circumstances.
8.    Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Amendment by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.  A set of the copies of this Amendment signed by all the parties shall be lodged with the Company and the Administrative Agent.
9.    Governing Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
10.    Loan Document and Integration.  This Amendment is a Loan Document, and together with the other Loan Documents, incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.
11.    Headings.  Section headings contained in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purposes.
 
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written.
	
		
	FIRST SOLAR, INC.,

	By:

	 
	/s/ David Brady

	 
	Name:David Brady

	 
	Title:VP, Corporate Treasurer

 
 
	
		
	FIRST SOLAR MANUFACTURING GMBH,

	By:

	 
	/s/ David Brady

	 
	Name:David Brady

	 
	Title:Prokurist, Authorized Officer

 
 
 
 
 
 
 
 

 

 

 
 
SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.
 
 
	
		
	JPMORGAN CHASE BANK, N.A., as Administrative Agent and as a Lender

	By:

	 
	/s/ Alex Rogin

	 
	Name:Alex Rogin

	 
	Title:Vice-President

 
        
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

 
 
SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.
 
 
 
	
		
	Citibank, N.A.,

	By:

	 
	/s/ Rob T. Jokhai

	 
	Name:Rob T. Jokhai

	 
	Title:Director

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

 
SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.
 
 
	
		
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Lender

	By:

	 
	/s/ David Cagle

	 
	Name:David Cagle

	 
	Title:Managing Director

 
	
		
	By:

	 
	/s/ Brian Myers

	 
	Name:Brian Myers

	 
	Title:Managing Director

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.
 
 
 
 
	
		
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

	By:

	 
	/s/ Shaheen Malik

	 
	Name:Shaheen Malik

	 
	Title:Vice President

 
	
		
	By:

	 
	/s/ Kevin Buddhdew

	 
	Name:Kevin Buddhdew

	 
	Title:Associate

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SIGNATURE PAGE TO THE 

 

 

FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.
 
 
	
		
	GOLDMAN SACHS BANK (EUROPE) PLC,

	By:

	 
	/s/ Gavin Rich

	 
	Name:Gavin Rich

	 
	Title:Authorized Signatory

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 

 

 

CREDIT AGREEMENT OF FIRST SOLAR, INC.
 
 
	
		
	HSBC BANK USA, NATIONAL ASSOCIATION,

	By:

	 
	/s/ Steven F. Larsen

	 
	Name:Steven F. Larsen

	 
	Title:Vice President

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.

 

 

 
 
	
		
	ROYAL BANK OF CANADA,

	By:

	 
	/s/ Thomas Casey

	 
	Name:Thomas Casey

	 
	Title:Authorized Signatory

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.
 

 

 

 
 
	
		
	THE ROYAL BANK OF SCOTLAND, PLC,

	By:

	 
	/s/ Tyler J. McCarthy

	 
	Name:Tyler J. McCarthy

	 
	Title:Director

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.
 
 

 

 

	
		
	SOCIÉTÉ GÉNÉRALE,

	By:

	 
	/s/ Yao Wang

	 
	Name:Yao Wang

	 
	Title:Director

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SIGNATURE PAGE TO THE 
FIRST AMENDMENT TO THE 
CREDIT AGREEMENT OF FIRST SOLAR, INC.
 
 

 

 

	
		
	WELLS FARGO BANK, N.A.,

	By:

	 
	/s/ Kyle J. Button

	 
	Name:Kyle J. Button

	 
	Title:Relationship Manager

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