Document:

Cost Plus Incentive Construction Contract

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 Exhibit 10.52 
 COST PLUS INCENTIVE CONSTRUCTION CONTRACT 
 THIS COST PLUS INCENTIVE CONSTRUCTION CONTRACT (this “Agreement”) is entered into as of August 8, 2007 (“Effective Date”), by
and between HOKU MATERIALS, INC., a Delaware corporation with its principal office located at 1 Hoku Way, Pocatello, Idaho 83204 (“Owner”), and JH KELLY LLC, a Washington limited liability company with its principal office located at 821
3rd Avenue, Longview, WA 98632 (“Contractor”). Owner and Contractor are each referred to herein as a “Party” or together as the “Parties”. 
 RECITALS 
 WHEREAS, Owner is seeking a general contractor to provide construction services for
Owner’s polysilicon production and processing plant to be located in Pocatello, Idaho as more fully described on the Statement of Work attached hereto as Exhibit A (the “Project”); 
 WHEREAS, Contractor is a licensed general contractor and is able and desires to provide to Owner those services to construct the Project as set forth
herein; and 
 WHEREAS, in connection with the provision of those services, Owner and Contractor desire to enter into this Agreement to
provide for the mutual benefits to be realized by the parties as a result of this Agreement and the specific considerations, terms and conditions set forth herein: 
 NOW, THEREFORE, for and in consideration of the premises and the mutual promises and covenants contained herein, the parties hereto agree as follows: 
 AGREEMENT 
  

	1	DEFINITIONS 

 For purposes of this Agreement, the following capitalized
terms shall have the meanings set forth below. 
 1.1 “Budget Incentive” means a fee earned by Contractor for meeting or exceeding
a predetermined Budget goal. 
 1.2 “Change” means an addition to, modification of, substitution for, or deletion of any work,
manner of performance, or other obligation required by the Contract Documents and estimated by Owner and Contractor to affect the time required for performance of the Work under the Statement of Work or to increase or decrease the cost of performing
the Work. 
 1.3 “Claim” means a demand or assertion by a party to this Agreement seeking, as a matter of right, adjustment to,
interpretation of, or relief from the terms and conditions of the Contract Documents; payment of money; extension of time; or other relief with respect to the Contract Documents. The term “Claim” also includes other disputes and matters
between Owner and Contractor arising out of or relating to the Agreement. Claims must be initiated by written notice. The responsibility to substantiate a Claim shall rest with the party making the Claim. Pending final resolution of a Claim,
Contractor shall proceed diligently with performance of the Work under this Agreement and Owner shall continue to make undisputed payments in accordance with the Contract Documents. 
  

					
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 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 1.4 “Construction Documents” mean the documents required by Contractor to construct the facility including but not limited to; scope of work, technical specifications, engineered drawings and Project
Schedule. 
 1.5 “Contract Documents” means of this Agreement and all conditions of the contract (general, supplementary and other
conditions), modifications, exhibits, drawings, specifications, addenda or other documents listed in this Agreement. Unless specifically enumerated in the Agreement, the Contract Documents do not include other documents such as bidding requirements
(advertisement or invitation to bid, instructions to bidders, sample forms, Contractor’s bid or portions of addenda relating to bidding requirements). The intent of the Contract Documents is to include all items necessary for the proper
execution and completion of the Work by Contractor. The Contract Documents are complementary, and what is required by one shall be as binding as if required by all. 
 1.6 “Contract Time” means the number of consecutive calendar Days, including authorized adjustments, calculated starting from the Effective Date to the agreed upon dates set forth in the Project Schedule.

 1.7 “Cost of the Work” means the reimbursable costs specified in Exhibit C incurred by Contractor in the proper
performance of Work to complete the Project under this Agreement. 
 1.8 “Day” means a calendar Day unless otherwise specifically
noted in the Agreement. 
 1.9 “Drawings” means the graphic and pictorial portions of the Contract Documents showing the design,
location and dimensions of the Work, generally including plans, elevations, sections, details, schedules and diagrams, including the drawings attached as Appendix 1 to Exhibit A of this Agreement. 
 1.10 “Extra Work” means an item of work or a manner of performance that results from a Change, that is outside the scope of the Work as
described in the Statement of Work and which is estimated by Owner and Contractor to affect the time required for performance of the Work or to increase or decrease the cost of performing the Work. 
 1.11 “Final Invoice” is the invoice submitted by Contractor to Owner for all final cost items including but not limited to; subcontractor
invoices, demobilization of site, completion of punch list items and all other cost items and/or invoice reconciliations. 
 1.12
“Fee” means the fee charged by Contractor for constructing the facility for Owner, which is calculated as a percentage of Contractor’s Cost of the Work as set forth on Exhibit C to this Agreement. 
 1.13 “Hazardous Substance” means any and all chemicals, constituents, contaminants, pollutants, materials, and wastes and any other
carcinogenic, corrosive, ignitable, radioactive, reactive, toxic or otherwise hazardous substances or mixtures (whether solids, liquids, gases), or any substances now or at any time subject to regulation, control, remediation or otherwise addressed
as a hazardous substance under the applicable laws of the Site, including those laws, regulations and policies relating to the discharge, emission, spill, release, or threatened release into the environment or relating to the disposal, distribution,
manufacture, processing, storage, transport, treatment, transport, or other use of such substances. 
  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 1.14 “Incentive Fee” means the Budget Incentive, the Schedule Incentive and/or the Safety Incentive, as applicable. 
 1.15 “Mechanical Completion” means, except for non-critical and punch list items, (i) all production equipment is substantially installed and checked for alignment, calibration, lubrication, rotation,
and hydrostatic and/or pneumatic pressure integrity; (ii) the appropriate systems have been flushed and cleaned; and (iii) the Work is substantially ready to commence commissioning and start-up activities. 
 1.16 “Mechanical Completion Date” is defined in Section 11.2 of this Agreement. 
 1.17 “Modification” means (1) a written amendment to the Contract signed by both parties, (2) a Change order, (3) a construction
change directive or (4) a written order for a minor change in the Work issued by or on behalf of Owner; any of which may result in the submittal of a Target Price Revision requesting additional monies and/or time. 
 1.18 “Person” means any natural or juridical Person, including, but not limited to, corporations, partnerships, joint ventures, and any other
business association or organization. 
 1.19 “Preliminary Reactor Test Demonstration” means that two or more polysilicon
deposition reactors at the Site are set-up such that they may be put into short term testing and operation to produce polysilicon (permanent connections, automatic controls, etc. are not required for this milestone) independent of the full facility.

 1.20 “Safety Incentive” means a fee that may be earned by Contractor if it meets or exceeds the predetermined Safety goal as set
forth in Section 9.2.2.3 of this Agreement. 
 1.21 “Schedule Incentive” means a fee that may be earned by Contractor if it
meets or exceeds the predetermined Schedule goals as set forth in Section 9.2.2.2 of this Agreement. 
 1.22 “Site” means the
property or premises of Owner where Work is to be performed by Contractor pursuant to this Agreement as described on Appendix 1 to Exhibit A of this Agreement. 
 1.23 “Specifications” means that portion of the Contract Documents consisting of the written requirements for materials, equipment, systems,
standards and workmanship for the Work, and performance of related services. 
 1.24 “Statement of Work” means the statement
describing the scope of the Work to be performed by Contractor to complete the Project, and is set forth on Exhibit A to this Agreement. 
 1.25 “Subcontractor” means any Person that has a contract with Contractor, regardless of tier, to perform any portion of the Work or to supply equipment, materials, supplies, labor and/or other goods and
services in connection with the performance of the Work required of Contractor under this Agreement. 
 1.26 “Substantial
Completion” shall be achieved when: (i) Mechanical Completion of the Work has been acknowledged by the Owner and engineer in writing; (ii) final lien waivers and releases and other documents or inspections reasonably required by
Owner’s engineer or lender have been delivered; (iii) the Contractor has delivered the job books and as-built drawings; (iv) all the Contractor’s 

  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 
supplies, personnel and rubbish have been removed from the Site; and (v) all punch list items have been completed (or otherwise resolved by agreement of
the Owner and the Contractor. 
 1.27 “Target Price Revision” means a written instrument signed by Owner and Contractor stating
their agreement upon all of the following: (a) a change in the Work or authorizing Extra Work; (b) the amount of the adjustment, if any, in the Contract Price; and, (c) the extent of the adjustment, if any, in the Contract Time.

 1.28 “Work” means the consulting, material procurement, inspection, maintenance, and construction services required by the
Contract Documents; and includes all labor, equipment machinery, tools, materials, supplies, services, and testing necessary to fulfill Contractor’s obligations under the Contract Documents to complete the Project as set forth in the Statement
of Work. 
  

					
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 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  

	2	SCOPE OF WORK AND PERFORMANCE OF SERVICES 

 2.1 The terms
of this Agreement shall apply to Contractor’s performance of Work and/or presence on Owner’s property, unless expressly modified by a Change Order. Any modification of the terms of this Agreement by a Change Order shall only apply to
Contractor’s performance of Work and/or presence on Owner’s property under that Change Order. 
 2.2 The basis of the Work is the
construction by Contractor of the Project. 
 2.3 It is expressly agreed and understood by Contractor that any materials, supplies, or items
of machinery, equipment, or tools provided by Contractor in the performance of the Work shall be so provided, pursuant only to the terms and conditions set forth in this Agreement. Any preprinted or handwritten terms and conditions or similar
provisions attached to or appearing on the face or reverse side of, or attached to, Contractor’s order acknowledgments, delivery tickets, invoices, price lists, or other similar documents, are null and void and the terms and conditions of this
Agreement (and the other applicable Contract Documents) shall control. 
 2.4 Owner and Contractor acknowledge that Work under this Agreement
shall not include the handling, transportation, or removal of any Hazardous Substance from Owner’s property. Should the Work performed by Contractor require the handling, transportation, or removal of any such Hazardous Substance, Contractor
shall immediately notify Owner’s Representative and Owner shall provide further instructions on how the Hazardous Substance shall be handled. 
  

	3	CERTAIN OBLIGATIONS OF CONTRACTOR 

 3.1 Project Manager.
Contractor designates Pat Wilson as its representative (“Project Manager”) who is fully authorized to act on behalf of Contractor for the purpose of receiving instructions from Owner, receiving communications from Owner, requesting
approvals required or permitted under this Agreement and otherwise representing Contractor. All notices, requests, approvals and other communications provided to Owner by the Project Manager shall be deemed to have been provided by Contractor and
all notices, instructions, requests, approvals and other communications provided to the Project Manager by Owner shall be deemed to have been received by Contractor. Contractor may designate one or more successor Project Manager(s) by written notice
to Owner from time to time. 
 3.2 Review and Execution. 
 3.2.1 Contractor represents that Contractor has visited the Site, and has correlated personal observations with requirements of the Contract Documents. 
 3.2.2 Before starting each portion of the Work, Contractor shall carefully study the Contract Documents relative to that portion of the Work, and may
take field measurements of any existing conditions related to that portion of the Work, and observe any conditions at the Site affecting that portion of the Work if reasonable with regard to the scope of the Work. 
 3.2.3 Any design errors, omissions, or inconsistencies noted by Contractor shall be reported promptly to Owner. 
 3.2.4 If Contractor believes that additional cost or time is involved because of any design errors, omissions, or inconsistencies, Contractor shall
submit a Target Price Revision requesting an 

  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 
adjustment to the Target Price and/or the Project Schedule. All Target Price Revisions will be submitted to Owner for review and approval. 
 3.3 Contractor shall provide supervision of all phases of the Work in accordance with sound construction practices and in compliance with all federal,
state or local rules, regulations and ordinances applicable to the Work. 
 3.4 Contractor shall be solely responsible for all construction
means, methods, techniques, sequences and procedures and for coordinating all portions of the Work. 
 3.5 Contractor shall be responsible to
Owner for the acts and omissions of its employees, Subcontractors and their agents and employees. Except as otherwise provided herein, all Subcontractors will be bound to comply with the same standards, care, skill and diligence as Contractor in the
performance of the Work. Owner shall have the right to request removal of any Contractor employee, Subcontractor, Subcontractor employee, or their agents who in Owner’s sole opinion, has engaged in improper conduct, is not performing in a
satisfactory manner or is not qualified to perform assigned work, including, as applicable, the Project Manager. Contractor shall, within ten (10) business days take corrective action to address Owner’s request (through disciplinary
action, reassignment, training or other commercially reasonable means) to Owner’s reasonable satisfaction, which may include removal of such person, provided that such removal complies with state and federal laws and regulations, including but
not limited to, labor and employment laws. 
 3.6 Ownership of Drawings and Other Items. All drawings, reports, designs, sketches, working
drawings, shop drawings, documents, certificates, plans, specifications, estimates, memoranda, analyses, calculations, models and other tangible evidence of Contractor’s work product prepared in connection with the Work shall become and remain
the sole property of Owner. Contractor may retain copies of its work product for its records, provided that any use thereof (other than with respect to the Work) without the written consent of Owner is prohibited. Any devices (other than equipment
or devices which constitute part of the Work) or methods now being used in the marketplace, and incorporated into the Project, are not considered to be property of Owner. Innovative construction methods or mechanical devices developed by Contractor
or its Subcontractors used in connection with the Work are not considered property of Owner unless such methods or devices were developed by Owner or Owner’s separate contractors. 
 3.7 Books, Records and Invoices. Contractor shall keep and maintain complete and accurate books, records and invoices relating to the costs and
performance of the Work in accordance with industry standards for cost-plus work, or in such form, substance and details as Owner may prescribe from time to time. Owner shall have the right to inspect, examine, copy and audit such records, books and
invoices at any reasonable time or times during the term of this Agreement, during the period of two (2) years after Final Acceptance by Owner of the Work, or within one (1) years after the termination hereof or the termination of the
Work, whichever is later. Contractor shall make such books, records and invoices available for inspection, examination, copying and auditing as may be prescribed by Owner. Owner shall remit payment to Contractor for all costs Contractor incurs,
including but not limited to, employee time, copies, office space, etc. needed to facilitate the requests of Owner in accordance with this section. Contractor shall maintain at the Site for Owner one record copy of the final plans, drawings and
specifications for the Work, in good order and marked currently to record all changes made during construction. Contractor acknowledges that Owner may hire one or more third party representatives, including, without limitation, an engineering,
procurement and construction management firm to review such records, books and invoices on behalf of Owner. Contractor acknowledges and agrees that Owner’s 

  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
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third party representative may be an engineering, procurement and construction firm that is a competitor of Contractor; provided, however, that Contractor
may require such third party to sign a commercially reasonable confidentiality agreement prior to disclosing Contractor’s confidential information that is included in such information and documents. 
 3.8 Taxes. Except as otherwise expressly provided below in this paragraph, the Target Price as set forth in Section 9 includes all taxes, including,
without limitation, (a) state and federal payroll taxes, including, without limitation, contributions of taxes assessed against employees on wages earned, in connection with Contractor’s performance of the Work under this Agreement,
(b) taxes levied or assessed upon Contractor’s equipment or other property or operations, and (c) all sales taxes levied on the equipment, supplies, facilities and other materials to be utilized as components of the Work. Contractor
shall pay all such taxes incurred in connection with the performance of the Work. Contractor shall provide Owner with an accurate accounting of all sales and use taxes paid on construction materials, supplies and facilities incorporated in the Work
(as opposed to those which are used or consumed in the performance of the Work, but which are not physically incorporated into the Work to include, but not limited to, labor, rents and royalties whether incurred by Contractor or any of its
Subcontractors). 
 3.9 Confidential Information. All data and information acquired by Contractor in connection with the Work to be performed
by Contractor hereunder shall be for the sole and exclusive benefit of Owner. The provisions of this Section 3.9 shall not apply to data and information within either of the following categories: (a) information which was in the public
domain prior to receipt thereof from Owner or which subsequently becomes part of the public domain by publication or otherwise except by Contractor’s wrongful or negligent act; (b) information received by Contractor from a third party
which did not have a confidentiality obligation with respect thereto; or (c) data and information used in Contractors or Contractors suppliers and subcontractors normal course of business. 
 3.10 Patent Rights, Copyrights and Title to Work. All royalties or other charges for the use of patents or copyrights to be used in the performance of
the Work and Owner’s ownership of the Work shall be deemed to be included in the Target Price. Title to all Work completed, all Work in the course of construction, and all materials furnished or developed by Owner or by Contractor, irrespective
of location thereof, shall be in Owner’s name once Contractor receives payment, but the ownership thereof by Owner shall not absolve Contractor from liability for loss or damage to same, nor from any other duty or responsibility for the same,
as provided in this Agreement. Notwithstanding the foregoing, Contractor is not and cannot provide title or licenses with respect to engineering or processes provided by third parties other than Subcontractors in connection with the Project.

 3.11 Schedule. 
 3.11.1
Attached as Exhibit B to this Agreement is a project schedule (the “Project Schedule”) that includes target dates for achieving the Preliminary Reactor Test Demonstration, Mechanical Completion and Substantial Completion.

 3.11.2 Subject to Sections 8 and 10 below and to any adjustments authorized pursuant to the other provisions of this Agreement, Contractor
shall diligently perform the Work and strive to achieve the Preliminary Reactor Test Demonstration, the Mechanical Completion and the Substantial Completion on or before the applicable date set forth in the Project Schedule, as may be modified
through mutually approved Target Price Revisions or Change Orders through the course of the Project. 
  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
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 3.11.3 The dates for completing the Preliminary Reactor Test Demonstration, the Mechanical Completion and the Substantial Completion shall be extended for any period of delay caused by reasons not within the sole
control of Contractor, its suppliers or subcontractors, or Owner failing to provide timely payment or approvals in accordance with the provisions of this Agreement when such failure was not due to action or inaction of Contractor or its
Subcontractors and provided that Contractor provides Owner with prompt written notice of any such delay by Owner. If the Work is delayed due to the fault of Contractor such that Contractor does not achieve the Preliminary Reactor Test Demonstration,
Mechanical Completion or Substantial Completion on or before the applicable date set forth in the Project Schedule, then the Project Schedule shall not be adjusted, and Contractor shall pay Owner liquidated damages in the amount of [*] of delay in
achieving the applicable milestone up to a combined aggregate limit of one million dollars ($1,000,000). 
 3.11.4 Contractor shall promptly
notify Owner upon completion of each major item or portion of the Work. 
 3.11.5 No rights of Owner shall be waived by permitting Contractor
to work after the time for completion has expired. 
 3.12 Permits, Licenses and Authorizations. Contractor shall obtain, on a timely basis,
all permits and authorizations which Contractor is required to obtain directly in its own name in order to perform the Work, and Contractor shall either furnish to Owner copies of all such permits and authorizations or maintain copies of the same at
the Site or at the appropriate offices of Contractor. Contractor shall also, on a timely basis, supply all technical documentation required in support of such permits, licenses and authorizations as are required to be issued in Owner’s name in
connection with the Work, and Contractor shall otherwise assist Owner in securing such permits, licenses and authorizations. If mutually agreed upon by Owner and Contractor, permits to be obtained by Contractor may include city, county and state
building permits, electrical permits and plumbing permits. Owner shall be responsible for county, state and federal environmental permits to operate the Project after completion of the Work. 
 3.13 Clean Site. Contractor shall confine operations at the Site to areas permitted by law, ordinances, permits and the Statement of Work. Contractor at
all times shall keep the Site free from accumulation of waste materials or rubbish caused by its operations. Upon completion of the Work, Contractor shall remove all waste materials and rubbish from and about the Site, as well as its tools,
construction equipment, machinery and surplus materials, and shall clean all surfaces and shall leave the Site “broom clean” or its equivalent. 
 3.14 Safety. Contractor shall be responsible for initiating, maintaining and supervising all safety precautions and programs in connection with the Work. Contractor shall take all reasonable precautions for the safety
of, and shall provide all reasonable protection to prevent damage, injury or loss to (a) all personnel performing any portion of the Work and all other Persons who may be affected thereby, (b) the Work, the Site, and all materials and
equipment to be incorporated therein, whether in storage on or off the Site, under the care, custody or control of Contractor or any of its Subcontractors or anyone for whose acts any of them may be liable, and (c) other property at the Site or
adjacent thereto, including soil, water, trees, shrubs, lawns, walks, pavements, roadways, structures and utilities not designated for removal, relocation or replacement in the course of the Work. Contractor shall give all notices required by and
comply with all applicable laws, ordinances, rules, regulations and lawful orders of any public authority bearing on the safety of Persons or property or their protection from damage, injury or loss. Contractor shall erect and maintain, as required
by existing conditions and progress of the Work, all reasonable safeguards for safety and protection, including installing fences and posting danger 

  

					
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signs and other warnings against hazards, promulgating safety regulations and notifying owners and users of adjacent sites and utilities. Contractor shall be
solely responsible for any loss or expense incurred by Owner arising from injury or death to Persons or damage to property in anyway incident to or in connection with the placement, storage, spill, discharge or release on or about the Site of
Hazardous Substances brought onto or about the Site by Contractor or any of its Subcontractors in connection with the performance of the Work or otherwise. When the use or storage of Hazardous Substances is necessary for the performance of the Work,
Contractor shall exercise the utmost care and shall carry on such activities under the supervision of properly qualified personnel. Contractor shall promptly remedy all damage or loss to any property referred to in this paragraph caused in whole or
in part by Contractor, its Subcontractor or anyone for whose acts either of them may be liable. The foregoing obligations of Contractor are in addition to Contractor’s obligations under Section 7.5 hereof. 
  

	4	CERTAIN OBLIGATIONS OF OWNER 

 4.1 Owner’s
Representative. Owner designates Karl Taft as its representative (“Owner’s Representative”) who shall be fully authorized to act on behalf of Owner for the purpose of giving notices, instructions and other communications to
Contractor, receiving communications from Contractor, granting approvals required or permitted under this Agreement and otherwise representing Owner in connection with all activities conducted pursuant to this Agreement. All notices, instructions,
approvals and other communications provided to Contractor by Owner’s Representative shall be deemed to have been provided by Owner and all notices, requests, approvals and other communications provided to Owner’s Representative by
Contractor shall be deemed to have been received by Owner. Owner may designate one or more successor representatives of Owner by written notice to Contractor from time to time. Notwithstanding the foregoing provisions of this paragraph, Owner may,
at Owner’s election, by notice in such written designation or by subsequent written notice to Contractor from time to time, limit the authority of Owner’s Representative to approve Changes and Extra Work under Section 8 below. Such
limitation shall not affect previously approved Changes and shall not be effective until notice is received by Contractor. 
 4.2 Property
Rights and Access to Site. Owner warrants that it has a valid long-term leasehold interest in the Site and possesses the legal right to construct Work on the Site. Owner agrees to provide Contractor full access to the Site for purposes of performing
the Work and an adequate area or areas at such Site for Contractor’s office, warehouse, craft change rooms, shop buildings, welding facilities, materials storage and employee parking, and all temporary water and power necessary (including
necessary standby or alternate power in the event of a power interruption) to support all construction. Owner, its agents and employees, shall have access to the Site to perform any and all work on the Site which Owner may undertake either through
its own work forces or through contractors or subcontractors, independently hired by Owner, and to inspect Contractor’s work. Owner shall use commercially reasonable efforts to schedule such other work in a manner which will not delay
Contractor’s work. If such delay is caused by Owner, Owner agrees to extend the Preliminary Reactor Test Demonstration, Mechanical Completion, and/or Substantial Completion Date, as applicable, for the length of the delay and to keep Contractor
whole for any additional labor costs caused by the delay unless such delay was due to action or inaction of Contractor or its subcontractors and provided that Contractor provides notice immediately to Owner’s Representative when Contractor
believes such delay has occurred or is likely to occur. The provisions in this paragraph and in Section 3.12 regarding delays in construction shall not apply to time needed for normal inspections or for remedial work required following such
inspections. 
  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
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 4.3 Pre-existing Hazardous Substances. Anything herein to the contrary notwithstanding, responsibility for any pre-existing Hazardous Substances shall remain with Owner. Subject to Contractor’s compliance with
its duty to identify Hazardous Substances, Owner shall indemnify and hold Contractor harmless from and against any and all liability which may in any manner arise as a result of exposure to Persons and property to such pre-existing Hazardous
Substances unless such liability arises from Contractor’s or its Subcontractor’s negligence or willful misconduct. Contractor shall identify to Owner any pre-existing Hazardous Substances immediately upon discovery. Upon discovery of any
such pre-existing Hazardous Substances, Owner shall have the right to postpone the Work, in whole or in part, pursuant to the provisions of Section 10.5 hereof, except that such postponement shall become effective immediately upon receipt by
Contractor of notice thereof. Owner shall have the right, at its own discretion, to determine whether to (i) request by a Change or Extra Work that Contractor undertake remedial action, (ii) take such remedial action itself, or
(iii) take no action. 
 4.4 Other Data and Materials. Owner shall supply, at its own expense and on a timely basis, all geotechnical
data required in connection with performance of the Work, a topographic survey of the Site, access to hydrostatic test water, and all crude oil or the products required for commissioning of the Work. 
 4.5 Payment. Owner shall remit payment in accordance with the terms of Section 9 contained herein. 
 4.6 In addition to the foregoing, Owner shall: 
 4.6.1 Provide all drawings, engineering, specifications (including completion of any drawings and specifications identified by the Parties as incomplete as provided herein, engineering assistance for Change Orders,
and responses to requests for information), and the materials and equipment listed on Exhibit D (the “Owner-furnished Equipment”), as necessary for Contractor to perform the Work in accordance with the Project Schedule as
adjusted by any modifications to this Agreement. Contractor shall make any request for reconciliation or clarifications of, or for further preparation or completion of, Drawings through a request for information delivered jointly to Owner’s
Representative and to Owner’s engineer (“RFI”). Owner shall have up to five (5) business days after delivery of the RFI to provide Contractor with responses that do not require preparation or revision of engineered Drawings or
Specifications, and up to ten (10) business days after delivery of the RFI to provide Contractor with responses that require preparation or revision of engineered Drawings or Specifications. RFI’s shall be sequentially numbered, shall
identify the date for response pursuant to the previous sentence and shall, in the event of cost or schedule effect (other than response time to the RFI if timely made pursuant to the preceding provisions) , be processed in accordance with
Section 8 and the other applicable provisions of this Agreement. 
 4.6.2 Provide the start-up, commissioning and
operating personnel necessary for initial operation, performance testing and maintenance of the Project, and review and approval of any proposed substitutions, except as is required to be provided by Contractor under this Agreement. 
 4.6.3 Provide all training of start-up, commissioning and operating personnel, except as is required to be provided by Contractor in this
Agreement; 
 4.6.4 Provide all start-up and operating consumables, including, but not limited to, gas feedstocks, reagents,
raw materials, lubricants, water and power, in the quantities and of the quality reasonably specified by Contractor for the safe and efficient operation and maintenance of the Project; 
  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 4.6.5 Provide all spare parts necessary for the safe and efficient start-up, operation and maintenance of the Project, provided that if
Contractor uses any spare parts for the Work or any warranty work, Contractor will replace such spare part at Contractor’s expense; 
 4.6.6 Perform its obligations, responsibilities and duties described in this Agreement; 
 4.6.7 Accept and dispose of any product and associated by-products and/or waste generated through commissioning, start-up, testing and/or operation of the Project; 
 4.6.8 Provide the Owner-furnished Equipment as required to support the Project Schedule; and 
 4.6.9 Provide the Site and gas fuel supply for the Project as required to support the Project Schedule. 
 4.6.10 Obtain and maintain throughout the performance of the Work insurance in accordance with Section 7.3, and all permits,
qualifications and licenses required to be taken out in the name of Owner, as the case may be, which are necessary for the performance of the Work. 
 4.6.11 Obtain third party vendor support, (i) as necessary to assist in the startup and testing of Equipment which has reached Mechanical Completion, (ii) as needed for technical support, and (iii) as
required for startup, initial operation and performance testing of the and its associated controls. 
  

	5	SUBMITTALS, INSPECTIONS AND APPROVALS 

 5.1 Submittals.

 5.1.1 Shop Drawings are drawings or diagrams specially prepared for the Work by Contractor or a Subcontractor to
illustrate some portion of the Work. 
 5.1.2 Product Data is information furnished by Contractor to illustrate materials or
equipment for some portion of the Work. 
 5.1.3 Samples are physical specimens of materials, equipment or workmanship that
establish standards by which the Work will be judged. 
 5.1.4 Shop Drawings, Product Data, Samples and similar submittals
(collectively “Submittals”) are not Contract Documents. The purpose of their submittal is to demonstrate for those portions of the Work for which submittals are required by the Contract Documents the manner and method by which Contractor
proposes to achieve the requirements of the Contract Documents. 
 5.1.5 Contractor shall review for compliance with the
Contract Documents, approve and submit to the Owner Submittals required by the Contract Documents with reasonable promptness and in such sequence as to cause no delay in the Work or in the activities of Owner or of Owner’s separate contractors.

 5.1.6 By approving and submitting to Owner Submittals, Contractor represents that Contractor has determined and verified
materials, field measurements and field construction criteria related thereto, or will do so, and has checked and coordinated the information contained within such submittals with the requirements of the Work and of the Contract Documents.

  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
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 5.1.7 Unless approved by Owner in writing or by e-mail, Contractor shall perform no portion of the Work for which the Contract Documents
require Submittals until the respective Submittal has been approved by Owner. 
 5.2 All fabricated material may be inspected (at
Owner’s discretion) at Contractor’s facility before shipment to the Site. If an inspection is desired by Owner, Owner shall list those items to be inspected in the Work. Owner reserves the right to inspect all fabricated material at
Contractor’s facility or at the Site. Contractor shall notify Owner’s representative at least five (5) working days before shipment that fabricated material is available for inspection. 
 5.3 All Work performed by Contractor hereunder shall be subject to inspection, testing and approval by Owner. Owner may, at its discretion, employ the
services of specialist inspection and testing agencies for this purpose. Unless otherwise specified in this Agreement, or as may be agreed to by Owner in writing or by e-mail, all Drawings will be approved by Owner, in writing, prior to commencement
of any Work based on the Drawings. 
 5.4 Any inspection or approval of the Work given under this Agreement by Owner shall not relieve
Contractor of its responsibility for compliance with this Agreement, nor from its responsibility for the quality of the Work, nor from any warranty, guarantee or liability under law, either expressed or implied, in this Agreement. 
 5.5 When the Work has been completed in accordance with the Contract Documents, Contractor shall so notify Owner in writing. Owner shall then inspect the
Work and if it is found not to be in compliance with the Contract Documents, Owner shall so notify Contractor in writing specifying the details of such non compliance. At Contractor’s expense, Contractor shall promptly correct all Work noted to
be in noncompliance and notify Owner once corrections have been made. Owner shall then reinspect the Work to determine compliance with the Contract Documents. If Owner rejects the Work or any part thereof which is reinspected, then the procedure set
forth above shall be repeated until Work not in compliance is corrected and the Work is accepted by Owner. 
  

	6	WARRANTIES 

 6.1 Warranties. Contractor warrants and
represents to Owner that: 
 6.1.1 Contractor and Owner each warrant that they are financially solvent, able to pay their
respective debts as they mature, and possessed of sufficient working capital to perform and complete their respective obligations under this Agreement; 
 6.1.2 Contractor is able to furnish any of the plant, tools, materials, supplies, equipment and labor required to perform and complete its obligations under this Agreement, and has sufficient experience and competence
to do so; 
 6.1.3 Contractor is authorized to do business in the State of Idaho and any other state where any part of the
Work is to be performed, and is properly licensed by all necessary governmental and public and quasi-public authorities having jurisdiction over it, the services required by the Contract Documents, and the Work; 
 6.1.4 The applicable Construction Documents, if and to the extent provided by Contractor, are adequate for the construction of the Work,
in accordance with the provisions of this 

  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
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Agreement and all applicable laws, rules, codes and regulations affecting the Work covered by this Agreement; 
 6.1.5 Contractor’s construction responsibility shall be carried out in accordance with sound construction practice; 
 6.1.6 The Work shall be performed in a good and workmanlike manner and the Work shall be free from defects in materials, equipment and
workmanship provided or performed by Contractor and if defects are found in any of the above, Contractor will rectify as described in Section 5.5; 
 6.1.7 All materials and equipment incorporated in the Work shall be new, free from liens, security interests and other claims, merchantable and free from defects in design, materials and workmanship; 
 6.1.8 The Work and all materials and equipment therein shall conform to the Construction Documents and other descriptions prepared by
Contractor and approved by Owner under this Agreement; 
 6.1.9 The Work shall comply with all applicable laws, rules, codes,
statutes, ordinances and regulations affecting the Work; 
 6.1.10 Contractor shall require from its Subcontractors the same
standards of construction practice, and the construction warranties, required of Contractor hereunder, which warranties of said Subcontractors shall extend to and for the benefit of and shall be enforceable by both Contractor and Owner or by either
of them individually; 
 6.1.11 Contractor shall secure or cause its Subcontractors to secure warranties from third party
vendors and suppliers with respect to equipment manufactured or furnished by them, and Contractor shall provide that all manufacturer’s or other warranties on all products furnished by Contractor shall either run directly to Owner or shall be
assignable to Owner. 
 6.1.12 The installation of all such products referred to in Section 6.1.11 above shall be such
as will not invalidate manufacturer and other warranties on such products; 
 6.1.13 Contractor shall use its best efforts,
including litigation, if necessary, to enforce such warranties on all products furnished by Contractor; and, 
  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 Payment by Owner of any sums to become owing to Contractor hereunder shall not constitute a waiver by Owner of any liability of Contractor for breach of any of the warranties contained in this paragraph or elsewhere in this Agreement, nor
shall Contractor be exonerated from liability by reason of the fact that Owner has approved any plans or other documents prepared by Contractor. 
 6.2 Enforcement of Warranties. The warranties set forth in Section 6.1 hereof shall apply to any defect, non-conformance or failure in the Work which appears during a period of one (1) year from the date of acceptance by Owner of
the Work for specific facilities or items of equipment (herein referred to as the “Warranty Period”), which Warranty Period with respect to any component of the Work replaced or repaired during said period shall be extended, as to such
component only, for a period equivalent to such applicable Warranty Period from the date of such replacement. Owner shall notify Contractor in writing within five (5) Days of any defect, non-conformance or failure discovered by Owner once the
warranty period has commenced. Contractor agrees promptly to remedy any such breach, at Contractor’s sole expense by either replacing or repairing any defective or nonconforming portion of the Work, including repair or replacement of other
property furnished by Contractor or its Subcontractors or by the vendors of equipment damaged as a result of such deficiencies. Contractor shall not be obligated to repair or replace any materials, operating equipment or work which becomes defective
as a result of improper operation or maintenance of equipment or facilities by Owner or its designated operators or agents. It is expressly understood that the warranties contained herein shall not limit or waive Contractor’s other obligations
under this Agreement. 
 6.3 Exclusion of Warranties. THE WARRANTIES SET FORTH IN THIS SECTION 6 ARE EXCLUSIVE AND ARE IN LIEU OF ANY OTHER
WARRANTIES BY CONTRACTOR, EXPRESS AND IMPLIED (EXCEPT AS TO OTHERS, INCLUDING TITLE WARRANTIES, ELSEWHERE SPECIFICALLY SET FORTH IN THIS AGREEMENT). 
 6.4 Third Party Warranty Protection. Contractor shall pass on all third party warranties to Owner, and act in good faith to assist in enforcement of such warranties if required. In no case shall Contractor be
obligated to replace or repair third party materials or equipment beyond the warranty provided by such third parties. 
  

	7	INSURANCE AND INDEMNITY 

 7.1 Without limiting in any way
the scope of any obligations or liabilities assumed hereunder by Contractor, Contractor shall procure or cause to be procured and maintained at its expense, for the duration of this Agreement, and with insurance companies reasonably acceptable to
Owner, the insurance policies described below. Contractor acknowledges that the endorsements and the type of insurance coverage and the limits thereof, are minimum limits which shall not be reduced without the prior written consent of Owner, which
consent is solely in the discretion of Owner. 
 7.1.1 Workers’ Compensation and Employer’s Liability Insurance
covering the employees of Contractor for all compensation and other benefits required of Contractor by the Worker’s Compensation or other statutory insurance laws in the state having jurisdiction over such employees, and over the location where
the Work is being performed, including Alternate Employer. Employer’s Liability Insurance with limits of not less than One Million Dollars ($1,000,000) per occurrence. 
 7.1.2 General Liability Insurance including contractual liability and completed operations to cover liability for bodily injury and
property damage with a combined single limit of not less than Three Million Dollars ($3,000,000) per occurrence. 
  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 7.1.3 Business Automobile Liability Insurance, if owned, hired or non owned automotive equipment is used in the performance of this
Agreement, to cover liability for bodily injury and property damage with a combined single limit of not less than One Million Dollars ($1,000,000) per occurrence. 
 7.1.4 Excess Liability with limits of coverage of $10,000,000 each occurrence and $10,000,000 in the aggregate. 
 7.2 Special Provisions Concerning Policies Placed by Contractor. 
 7.2.1 All policies (except Worker’s Compensation) shall include Owner and its affiliates as additional insured for liabilities
arising out of the performance under this Agreement and shall be primary to any other insurance of Owner. Such insurance shall specifically provide that it applies separately to each insured against which claim is made or suit is brought, except
with respect to the limits of the insurer’s liability. All policies, excepting Worker’s Compensation, shall provide that all rights of subrogation against Owner and its affiliates are waived when permitted by law. Such insurance shall be
primary over any coverage’s maintained by Owner. All policies must include thirty (30) Days written notice of cancellation to Owner. 
 7.2.1.1 The policy limits specified above are minimum requirements and not limits of liability and shall not be construed in any way as Owner’s acceptance of responsibility for financial liabilities in excess of
such limits. Contractor shall pay all deductibles and self insured retentions, including defense costs, applicable to the insurance, except for coverage triggered by the acts or omissions of Owner. 
 7.2.1.2 Prior to commencement of the Work, Contractor shall furnish Owner with Certificates of Insurance which document that all
coverages and endorsements required by this Section have been obtained for the Work. Contractor shall obtain renewal certificates as and when necessary and copies thereof shall be forwarded to Owner as soon as same are available and in any event
prior to the expiration of the policy so renewed. These certificates shall provide that the insurer shall give thirty (30) Days written notice to Owner prior to change or cancellation of any policy. In no event shall Owner’s acceptance of
an insurance certificate that does not comply with this paragraph constitute a waiver of any requirement of this Section. 
 7.2.1.3 All insurance certificates and other routine insurance related correspondence shall be sent to Owner by registered or certified mail, postage prepaid, return receipt requested, or delivered in Person or by commercial courier or sent
by facsimile to: 
 HOKU MATERIALS, INC. 
 1 Hoku Way 

Pocatello, Idaho 83204 
 Attn: Karl M. Taft III 
 Facsimile: 808-682-7807 
 7.2.2
Subcontractors. Contractor shall require all its Subcontractors to provide statutory Workers’ Compensation insurance coverage. 
  

					
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 7.3 Builder’s Risk. During the term of this Contract, Owner shall maintain in full force and, at Owner’s expense, Builders’ risk insurance on all risks of any physical loss, including without
limitation, earthquake, flood or fire, for an amount equal to the full completed value of the facility and Owner shall be liable for any deductible amount as required by the policy. 
 7.4 Indemnity. CONTRACTOR SHALL INDEMNIFY, DEFEND AND HOLD HARMLESS OWNER, ITS LENDERS, PARENT COMPANIES AND AFFILIATES, AND THE DIRECTORS, OFFICERS,
SHAREHOLDERS, AGENTS, EMPLOYEES AND REPRESENTATIVES OF EACH OF THEM (INDIVIDUALLY, “INDEMNITEE” AND COLLECTIVELY, THE “INDEMNITEES”) FROM AND AGAINST ANY AND ALL THIRD-PARTY (INCLUDING, WITHOUT LIMITATION, THOSE BY EMPLOYEES AND
AGENTS OF CONTRACTOR AND/OR SUBCONTRACTORS OF CONTRACTOR) SUITS, ACTIONS, LEGAL OR ADMINISTRATIVE PROCEEDINGS, CLAIMS, DEMANDS, COSTS AND EXPENSES (INCLUDING, WITHOUT LIMITATION, COURT COSTS AND ATTORNEYS’ FEES) OF ANY NATURE FOR BODILY INJURY
OR DEATH OR PHYSICAL DAMAGE TO PROPERTY OF ANY OF THE INDEMNITEES OR THIRD PARTIES ARISING OUT OF OR IN CONNECTION WITH THE PERFORMANCE OF THE WORK. THE INDEMNITY PROVIDED FOR IN THIS PARAGRAPH SHALL HAVE NO APPLICATION, HOWEVER, TO ANY SUIT,
ACTION, PROCEEDING, CLAIM, DEMAND, COST OR EXPENSE WHERE SUCH INJURY, DEATH, OR DAMAGE RESULTS FROM THE NEGLIGENCE, EITHER ACTIVE OR PASSIVE, AND/OR SOLE OR CONTRIBUTORY, OR THE WILLFUL MISCONDUCT OF OWNER. 
 7.5 CONTRACTOR SHALL DEFEND, INDEMNIFY AND HOLD HARMLESS OWNER FROM AND AGAINST ALL CLAIMS, DEMANDS AND LIABILITIES ARISING FROM HAZARDOUS SUBSTANCES,
INCLUDING CONTROL AND REMOVAL THEREOF, CAUSED BY CONTRACTOR’S DIRECT NEGLIGENT ACT IN PERFORMING CONTRACTOR’S OBLIGATIONS HEREUNDER. 
 7.6 CONTRACTOR SHALL NOT BE LIABLE TO OWNER FOR SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF USE. 
 7.7 Limitation. In any and all claims against an Owner by any party for property and/or property damage the indemnification obligation under this Section shall be limited to the extent of Contractor’s collectible and valid insurance.
In any and all claims for bodily injury or death the indemnification obligation under this Section shall be limited to the extent of Contractor’s collectible and valid insurance and all Incentive Fees paid to Contractor pursuant to this
Agreement. 
  

	8	CHANGES AND EXTRA WORK 

 8.1 Owner’s Instructions.
Owner reserves the right to require Contractor to undertake Changes or Extra Work. Contractor shall not undertake any Changes or Extra Work without prior written instructions by Owner. 
 8.2 Adjustment of Compensation. If Owner requests a Change or Extra Work, Contractor shall furnish Owner with a Change Order, or “Target Price
Revision” indicating the increase or decrease in the Target Price and any adjustment in the Project Schedule for Owner’s approval. Contractor shall not be liable to perform any Change or Extra Work unless the parties have mutually agreed
to either (A) a lump sum amount or (B) to perform the work on a cost plus basis as may be necessary for the Change or 

  

					
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Extra Work and any appropriate adjustment of the Project Schedule, prior to the time the Change or Extra Work is to begin. 
  

	9	COMPENSATION 

 9.1 Contract Price. Owner shall pay to
Contractor, as full and complete compensation for performance of the Work, the amount of compensation described in Exhibit C to this Agreement, subject to the provisions of Section 9.2 of this Agreement. 
 9.2 Basis of Compensation. 
 9.2.1 Cost of the Work 
 9.2.1.1 Reimbursable costs shall be actual Cost of the Work incurred by Contractor, less
all discounts, rebates, refunds, salvages, and amounts received from sales of surplus materials upon completion of the Work under this Agreement. Contractor represents that all rates applied to determine the Cost of the Work, including all labor,
materials, overhead and fee rates, shall be consistent with the then-current market rates applicable to projects of the same general scope in the region where the Site is located. 
 9.2.1.2 At no time shall Owner be billed more than once for the same cost. 
 9.2.1.3 Contractor shall maintain all records and documentation necessary for Owner to apply to any federal, state, or local governmental
entity for rebate payments or similar incentive programs for sales taxes, use taxes, and other taxes, fees, levies or assessments by such governmental entities. Contractor shall assist Owner in the preparation and submission of forms, schedules,
worksheets, and other documents required to make a claim for such payments. 
 9.2.2 Incentive Fees 
 9.2.2.1 Budget Incentive. Following Final Acceptance of the Work, if the actual Cost of the Work plus Fee is less than or equal to the
estimated Cost of the Work plus Fee stated in Exhibit C, then Owner shall pay to Contractor a sum equal to [*] of the difference between the estimated Cost of the Work plus Fee and the actual Cost of the Work plus Fee, with Owner retaining the [*]
balance of the underun; provided, however that the maximum Budget Incentive shall be [*]. 
 9.2.2.2 Schedule Incentive. In
the event the Preliminary Reactor Test Demonstration, the Mechanical Completion or the Substantial Completion shall occur on or before the respective dates set forth on the Project Schedule, Contractor shall be entitled to a “Schedule
Incentive” equal to [*] for each such milestone (up to an aggregate of [*] if all milestones are achieved on schedule). However, after the date of each such completion date, the applicable Schedule Incentive shall be reduced by [*] per day for
every day the Preliminary Reactor Test Demonstration, the Mechanical Completion or the Substantial Completion, as applicable, is not achieved. However, in no event shall the Schedule Incentive be reduced below [*]. 
 9.2.2.3 Safety Incentive. Following Final Acceptance of the Work, Owner shall pay to Contractor a Safety Incentive based on the OSHA
Recordable Incident Rate (ORIR) for the Work performed based on the following schedule: 
  

					
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	 ORIR
	  	Safety Incentive
	 [*]
	  	[*]
	 [*]
	  	[*]
	 [*]
	  	[*]

 9.3 Payment Terms 
 9.3.1 The Parties acknowledge and agree that they intend to pre-fund Contractor’s estimated Cost of the Work and Fee on a monthly
basis. To that end, once each month, Contractor shall submit to Owner an application for payment (the “Application for Payment”). The period covered by each Application for Payment shall be one calendar month ending on the last day of the
following month or as otherwise mutually agreed to accommodate Contractor’s cost system as it is understood that Contractor’s labor costs are accumulated such that a pay period must end on a Sunday. Contractor will provide with each
Application for Payment a projection estimate for the anticipated costs of the Work during the upcoming month. This projected estimate of costs plus the Contractor’s Fee on all estimated costs, less the retainage stipulated in
Section 9.3.4.2, shall serve as the basis of Contractor’s payment for that month. Within thirty (30) days after the end of each month during which any Work is performed, Contractor shall provide the Owner a summary of the actual Cost
of the Work incurred during such period accompanied by the supporting documentation for such Cost of the Work as required herein. Contractor will then prepare, contemporaneous with the next month’s Application for Payment, a monthly
reconciliation of the reimbursable costs that compares the advance funding received from Owner against the actual summary of the Cost of the Work for the applicable period. Should the reconciliation show a deficiency in funding, the then current
monthly Application for Payment will include the amount necessary to fully reimburse Contractor for any such deficiency plus any applicable Fee deficiency. If the reconciliation shows an excess funding, the excess will be deducted from the then
current monthly Application for Payment. Invoices paid and reconciled are not considered to be accepted by Owner and Owner shall retain its right to audit Contractor’s Cost of the Work and Applications for Payment. 
 9.3.2 Reimbursements of the Cost of the Work shall not be construed as Owner’s approval or acceptance of the Work. If Owner disputes
any portion of Contractor’s application for payment, Owner shall inform Contractor in writing within five (5) days upon receipt of Contractor’s Application for Payment. Owner shall remit payment of the undisputed portion of each
Application for Payment within ten (10) Days after receipt thereof. If Owner fails to notify Contractor in writing within five (5) business days then all portions of the Application for Payment shall be deemed accepted. The Parties shall
meet within ten (10) Days to try to resolve the disputed portion. If the Parties are unable to resolve the disputed portion, Contractor at its sole option may stop work in accordance with Section 10.3 contained herein. Contractor will not
stop work if (A) cumulative disputed value is less than one hundred thousand dollars ($100,000.00); or (B) Contractor has not submitted the support documentation as required by Section 9.3.4.1 above. 
 9.3.3 With each Application for Payment, the Contractor shall submit partial release of liens, payroll information documenting actual
hours worked with applicable rates, petty cash accounts, receipted invoices or invoices with check vouchers attached and any other evidence reasonably required by the Owner to support Contractor’s previous Applications for Payment and to
demonstrate the cash disbursements already made by the Contractor on account of the Cost of the Work. 
 9.3.4 Applications
for Payment shall show the Cost of the Work that Contractor estimates that it will expend or incur through the end of the period covered by the Application for Payment and for which the Contractor has made or intends to make actual payment prior to
the next 

  

					
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Application for Payment plus the Fee on all such estimated costs, less the retainage stipulated in Section 9.3.4.2. 
 9.3.4.1 No retainage on permits, fees, soil tests, construction testing, dumpsters, and miscellaneous direct third party costs;

 9.3.4.2 [*] retainage on all other Work. Owner shall release and pay Contractor [*] of all amounts retained from the
Applications for Payment within thirty (30) days of Contractor’s achievement of Mechanical Completion, and shall release and pay Contractor the balance of all amounts retained within thirty (30) days of Contractor’s achievement
of Substantial Completion. 
 9.3.5 All Cost of the Work shall be included in each month’s application for payment.
Owner shall withhold all potential Incentive Fee. Actual Incentives earned will be calculated, and invoiced after Owner’s Final Acceptance of all Work and all costs have come in and been invoiced. For Incentive Fee earned, Contractor shall
invoice Owner for the same following Owner’s Final Acceptance of the Work and Owner shall pay the same within thirty (30) Days from receipt of said invoice. 
 9.3.6 Owner may withhold payment for a disputed portion of an Application for Payment, without interest, until such dispute is resolved,
however all undisputed portions are to be paid in accordance with this agreement. 
 9.3.7 No payment made under this
Agreement shall constitute a waiver by Owner of the performance by Contractor of any of Contractor’s obligations hereunder and any payment withheld shall be without prejudice to any other rights and remedies available to Owner. Partial payments
on the Contract Price shall not be considered as an acceptance of any part of the materials, equipment or work, and Contractor shall be and remain fully and solely responsible for their protection from loss or damage of any nature until Final
Acceptance of the Work by Owner and for the prior performance and completion of the Work under this Agreement. 
 9.3.8
Contractor shall promptly pay or cause to be paid each Subcontractor, upon receipt of payment from Owner, out of the amount paid to Contractor on account of such Subcontractor’s work, the amount to which said Subcontractor is entitled.
Contractor shall provide to Owner’s Representative lien waivers from said Subcontractors evidencing such payment as may be requested on an audit basis. Owner shall have no obligation to pay or to see to the payment of any moneys to any
Subcontractor except as may otherwise be required by law. Upon Substantial Completion of all the Work under this Agreement, Contractor shall have provided full Unconditional Lien Releases from all Subcontractors. 
 9.3.9 Sums due Contractor shall be adjusted by deducting any amounts paid by Owner to prevent or remove liens, claims, debts and
encumbrances which are the responsibility of Contractor, or its Subcontractors, or to satisfy other obligations of Contractor or its Subcontractors hereunder; provided, however, that Owner shall provide Contractor with fifteen (15) Days’
prior notice and an opportunity to cure such encumbrance before Owner makes any such payment to a third party. 
 9.3.10
Final payment, constituting the entire unpaid balance of the Contract Price, including Incentives, shall be paid by Owner to Contractor thirty (30) Days after Final Invoice for all Costs and any Incentives earned, provided that Contractor shall
have furnished to Owner, in form and substance satisfactory to Owner, (a) an affidavit executed by an officer of Contractor stating that all bills 

  

					
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for labor and materials have been paid, (b) consent of surety (if any) to final payment, and (c) full releases of any and all liens arising out of
the Work which have not been previously provided. 
  

	10	POSTPONEMENT, TERMINATION AND DEFAULT 

 10.1 Termination by
Owner. 
 10.1.1 Termination for Cause: If Contractor files a voluntary petition in bankruptcy or for reorganization or
rearrangement of debts under any provision of the bankruptcy laws, or if Contractor admits insolvency or bankruptcy or is adjudged to be bankrupt or insolvent in involuntary proceedings, or if an involuntary petition in bankruptcy or for
reorganization or rearrangement of debts under the bankruptcy laws is filed against Contractor and is not dismissed within thirty (30) Days following the date of filing, or if Contractor makes a general assignment for the benefit of its
creditors, or if a receiver is appointed on account of its insolvency, or if Contractor fails to make prompt payment to Subcontractors, or for materials or labor, or allows a lien to be filed for material or labor, or disregards laws, ordinances,
rules, regulations or orders of any public authority having jurisdiction, or otherwise is guilty of a violation of the provisions of this Agreement, then Owner shall provide Contractor written notice of the material breach and Contractor shall have
thirty (30) Days from receipt of the notice to remedy the material breach. To the extent the material breach cannot reasonably be cured within thirty (30) days following Contractor’s receipt of written notice, then Contractor shall
have such longer period as is reasonably required to cure the breach provided that Contractor shall have commenced curative efforts within the thirty (30) Day period and diligently pursues same to completion. If Contractor does not remedy the
default within reasonable time thereafter, then Owner may, without prejudice to any right it might have at law or in equity, immediately terminate this Agreement and take possession of the Site(s) and of all materials, equipment, tools, construction
equipment and machinery thereon other than tools and equipment owned by Contractor and/or Subcontractors and may complete the Work by whatever method Owner may deem expedient. In such case Contractor shall not be entitled to receive any Incentive
Fee until the Work is completed, at which time Incentive Fees earned by Contractor prior to Owner’s termination of this Agreement will be calculated and invoiced. 
 10.1.2 Termination for Convenience: In addition to the rights of termination prescribed in Section 10.1.1 above, and those rights of
termination that may exist at law or in equity, Owner may, at any time, in its sole and absolute discretion and with or without cause, by written notice to Contractor, instruct Contractor to postpone, suspend, or abandon the Work, in whole or in
part, or terminate this Agreement. Such postponement, suspension, abandonment or termination shall become effective thirty (30) calendar Days after the receipt of such notice by Contractor, unless a different period is mutually agreed. Upon the
receipt of such notice, Contractor shall strictly comply with the instructions set forth therein, and shall exert due diligence and best efforts to keep any further Work-related expenditures to a minimum. In the case of partial postponement,
suspension, or abandonment unrelated to the fault of Contractor or its Subcontractors, Owner will authorize a Change, making appropriate adjustments to the Contract Price and Contract Time, as applicable. In the case of a termination of this
Agreement by Owner under this paragraph, Owner and Contractor shall be released from any further liability hereunder, subject, however, to the provisions of Sections 10.3 and 10.1.1 hereof. If Owner terminates for convenience, Contractor will be due
all Cost of the Work plus applicable Fee incurred as of the date of Termination, plus all reasonable and documented direct expenses related to the termination of this Agreement. 
 10.1.3 In the event that Contractor fails to complete performance of the Work in accordance with the Project Schedule, and the schedule
is not extended as provided herein; Owner shall 

  

					
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have the option, in its sole judgment, to terminate the Agreement and proceed to complete the Work pursuant to Section 10.1.1; or to require Contractor
to continue performing the Work. 
 10.2 Termination by Contractor. This Agreement is subject to termination by Contractor upon written
notice to Owner upon the occurrence of (a) breach of this Agreement by Owner and (b) the failure by Owner to cure such breach within a period of thirty (30) Days following the receipt by Owner of written notice from Contractor setting
forth in reasonable detail the nature of such breach unless such breach is related to payment to Contractor. If such breach is for payment the terms of Section 10.3 shall apply. To the extent the breach cannot reasonably be cured within thirty
(30) Days following Owner’s receipt of written notice, then Owner shall have such longer period as is reasonably required to cure the breach provided that Owner shall have commenced curative efforts within the thirty (30) Day period
and diligently pursues same to completion. Upon the occurrence of such events (and the expiration of the applicable curative period), Contractor may terminate this Agreement by delivery to Owner of written notice of such termination. Payment to
Contractor shall be per Section 10.1.2 above. 
 10.3 Failure of Owner to remit payment in accordance with this section shall give
Contractor right to immediately stop work with forty-eight (48) hour written notice to Owner. If payment is not received within the forty-eight (48) hour notice Contractor shall have the right to stop work. If payment is not received
Contractor shall not be liable for any damages incurred whatsoever, including but not limited to schedule delays, by Owner. Owner shall be liable to Contractor for all demobilization costs and remobilization costs should Contractor later proceed
with the Work. 
 10.4 Preservation of Rights and Liabilities. The termination of this Agreement, for whatever reason, shall not prejudice
any of the accrued rights, claims or liabilities of either Owner or Contractor hereunder. 
 10.5 Postponement. Owner may postpone the Work
for up to 4 months. All reasonable, direct and documented Contractor costs associated with such postponement (inclusive of Fee) shall be included as Cost of the Work, and an adjustment of equal value and time extension commensurate with the
postponement period shall be made to this Agreement to allow for fair opportunity to earn the Schedule Incentive and the Budget Incentive for the Project. Should postponement be requested beyond 4 months, Contractor at its option may agree to extend
such suspension, or deem the Project terminated for convenience per Section 10.1.2 above. 
 10.6 Force Majeure. Neither Owner nor
Contractor shall be required to perform any term, condition or covenant in this Agreement so long as such performance is delayed or prevented by Force Majeure. The term “Force Majeure” as used herein shall mean any cause not reasonably
within the control of Owner or Contractor, as the case may be (other than inability to make monetary payments) and which by the exercise of due diligence Owner or Contractor (as the case may be) is unable, wholly or in part, to prevent or overcome,
including without limitation, acts of God; strikes, lockouts, or boycotts of regional or national origin not directed solely at Contractor; nationwide material or labor shortages; restrictions imposed by any governmental authority; and, civil riot.
Owner and Contractor shall give prompt written notice to the other, as the case may be, of any such event or circumstance of Force Majeure, and each party shall cooperate in good faith with the other to minimize and mitigate the impact of any such
event or occurrence and do all things commercially reasonable under the circumstances to achieve such goal. Long term and/or unknown impacts of prior Force Majeure events, such as Hurricanes or other events where the full and true impacts of such
events aren’t fully determinable until realized, are subject to claim under this paragraph, in lieu of including contingency cost and time allowances in Target Price estimates for undeterminable future impacts that may result from previous
Force Majeure events. 

  

					
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Reasonable adjustment to Contract Price and Mechanical Completion Date shall be made in the event of Force Majeure events and/or impacts. 
  

	11	COMPLETION, ACCEPTANCE AND OCCUPANCY 

 11.1 Notice of
Mechanical Completion. When Contractor has achieved Mechanical Completion of the Work, or a portion thereof, it shall notify Owner, in writing, and request acceptance by Owner of the Work. 
 11.2 Acceptance by Owner. As soon as reasonably practicable, and in any event within ten (10) Days after receipt of a notice from Contractor
pursuant to Section 11.1 above, Owner shall issue written acknowledgement of the Mechanical Completion of the Work, or a portion thereof, in writing to Contractor, specifying any obligations under this Agreement which are Contractor’s
responsibility and have not been fulfilled. In such event, Contractor shall promptly fulfill any unfilled obligations under this Agreement which are its responsibility and submit a further notice to Owner pursuant to Section 11.1. The
“Mechanical Completion Date” shall occur on the date that Owner signs and accepts Contractor’s notice of Mechanical Completion under Section 11.1. 
 11.3 Notice of Substantial Completion. When Contractor has achieved Substantial Completion , it shall notify Owner in writing, and request Final Acceptance by Owner of the Work (“Notice of Substantial
Completion”). 
 11.4 Final Acceptance by Owner. As soon as reasonably practicable, and in any event within ten (10) Days after
receipt of the Notice of Substantial Completion from Contractor pursuant to Section 11.3 above, Owner shall issue written acceptance of Substantial Completion of the Work, or, if Contractor’s obligations remain not fulfilled, written
notice to Contractor of Contractor’s obligations that have not been fulfilled. In such event, Contractor shall promptly fulfill any unfilled obligations under this Agreement which are its responsibility and submit a further notice to Owner
pursuant to Section 11.3 above. “Final Acceptance” shall occur on the date that Owner signs and accepts without conditions, Contractor’s Notice of Substantial Completion. 
 11.5 Partial Occupancy Or Use 
 11.5.1 Owner may occupy or use any completed or partially completed portion of the Work, with Contractor’s approval, at any stage when such portion is designated by separate agreement with Contractor, including, without limitation, for
purposes of completing the Preliminary Reactor Test Demonstration; provided such occupancy or use is consented to by insurers providing property coverage and authorized by public authorities having jurisdiction over the Work. Such partial occupancy
or use may commence whether or not the portion is mechanically complete, provided Owner and Contractor have accepted in writing the responsibilities assigned to each of them for payments, retainage, if any, security, maintenance, utilities, damage
to the Work and insurance, and have agreed in writing concerning the period for correction of the Work and commencement of warranties required by the Contract Documents. 
 11.5.2 Immediately prior to such partial occupancy or use, Owner and Contractor shall jointly inspect the area to be occupied or portion
of the Work to be used in order to determine and record the condition of the Work. 
  

					
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 11.5.3 Partial occupancy or use of a portion or portions of the Work shall not constitute acceptance of the Work; provided, however, that
the successful completion of the Preliminary Reactor Test Demonstration may entitle Contractor to the applicable portion of the Schedule Incentive. 
  

	12	CONTROLLED SUBSTANCE ABUSE POLICY 

 12.1 Owner maintains a
drug and alcohol free workplace. Contractor acknowledges that it has been advised and agrees to advise all its employees, subcontractors, agents and business invitees of any subcontractor, agent, or business invitee, of the following safety
regulations or policies concerning controlled substances (alcohol, misuse of prescription drugs and illegal drugs): 
 12.1.1
It is the policy of Owner that the use, possession, sale, transfer, purchase, or the presence in one’s system of a controlled substance on Owner’s property is prohibited; 
 12.1.2 Contractor and its Subcontractors are to have in place a drug and alcohol free workplace policy; 
 12.1.3 Entry onto Owner’s property constitutes consent to an inspection of the Person (including, but not limited to, the taking of
a urine sample) and personal effects, as well as any vehicle(s) when entering or leaving Owner’s property, and; 
 12.1.4 Any Person who is found in violation of the policy or who refuses to permit an inspection may be removed and barred from Owner’s property, at the sole discretion of Owner. 
  

	13	ACCIDENT REPORTS 

 13.1 All accidents must be reported to
Owner by Contractor. In the event an accident involving the property, equipment, or personnel of Contractor, Owner, or any third party occurs on Owner’s property, or which arises out of, results from or is in any way connected with the Work or
any presence upon Owner’s property or other activities pursuant to this Agreement, Contractor shall immediately report such accident to Owner’s Representative. In addition, a written report of such accident must be prepared by Contractor
and delivered to Owner’s Representative within 24 hours after Contractor becomes aware of each such accident. This report should contain factual information only and should not contain opinion, speculation, or supposition as to fault,
liability, or prevention. Contractor shall also provide Owner with a copy of each and every report of each such accident, including statements or other investigative material or documents which Contractor completes, or is required to submit, or does
submit, to any entity other than Owner, including without limitation, any governmental agency or body, Contractor’s or Owner’s insurers, or others. 
  

	14	LIENS 

 14.1 Where required by Owner, the final payment
shall be substantiated by notarized lien affidavits and lien waivers evidencing that all suppliers, subcontractors and laborers have been paid in full for Work performed and materials furnished, up to and including the date(s) of such affidavits.
Owner may at any time audit Contractor’s status of payment to any or all subcontractors and/or suppliers. 
 14.2 If Owner has remitted
payment in accordance with the terms of this Agreement, Contractor shall keep the Work free and clear of all liens. Contractor shall promptly and satisfactorily settle all claims, including lien claims of its Subcontractors, for labor performed and
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furnished in connection with such Work. In the event Contractor fails or refuses to promptly and satisfactorily settle all such claims, Owner shall, after so
notifying Contractor in writing, have the right to settle such claims on behalf of and for the account of Contractor, and deduct the amount from the Contract Price and/or any Application for Payment. Alternatively, Owner shall have the right to hold
all sums due or to become due to Contractor, without interest, until satisfactory evidence is furnished to Owner that all such claims and liens have been settled and released. 
  

	15	COMPLIANCE WITH LAWS, ENVIRONMENTAL LAWS AND REGULATIONS 

 15.1 Contractor will fully comply with all applicable laws and regulations pertaining to working conditions including, but not limited to, workers’ compensation, social security, federal, state and local income tax withholding,
unemployment insurance, the Occupational Safety and Health Act, the Immigration Reform and Control Act of 1986, the Americans with Disabilities Act, and all applicable federal, state and local laws including without limitation those laws affecting
employment, business opportunities, and the environment, applicable at the Site. Contractor is responsible for the timely payment of any and all employment related taxes with respect to Work performed by Contractor or its Subcontractors. In the
event that Contractor’s employees or its Subcontractors’ employees are deemed to be Owner employees by any government authority, Contractor shall reimburse Owner for any corresponding taxes or fees paid by Owner. 
 15.2 Contractor expressly guarantees that for all tools, materials and equipment to be furnished and used, and for all work and labor to be performed
under the terms of this Agreement and in every activity connected therewith, Contractor shall comply fully with all applicable federal, state and local laws, statutes, codes, ordinances, rules and regulations, and shall furnish Owner evidence of
such compliance as Owner may require at any time. If the services rendered under this Agreement are licensed by the state in which the Work is to be performed, Contractor must obtain and maintain the state license and must submit a copy to Owner
prior to the performance of Work covered by this Agreement. 
 15.3 Contractor agrees that all products furnished or Work performed shall be
in compliance with all applicable federal, state and local laws and regulations respecting the environment, including, but not limited to, the Clean Air Act, the Toxic Substance Control Act, the Safe Drinking Water Act, the Comprehensive
Environmental Response, Compensation and the Liability Act, the Superfund Amendments and Reauthorization Act, the Environmental Planning and Community Right-To-Know Act, the Oil Pollution Act of 1990, the Clean Air Act Amendments of 1990, the
Migratory Bird Treaty Act, the Endangered Species Act, and the Resource Conservation and Recovery Act. The handling of any solid or hazardous waste subject to the Resource Conservation and Recovery Act shall be in compliance with EPA Regulations at
Parts 260 through 265, and Parts 122 through 125 of Title 40, Code of Federal Regulations, and any other applicable regulation under the Resource Conservation and Recovery Act. Contractor agrees at all times in performance of the Work hereunder, to
abide by all the federal, state, and local laws listed above as said laws or regulations may be amended from time-to-time subsequent to the Effective Date of this Agreement and all other laws, orders, rules and regulations, prescribed by any
governmental body having jurisdiction. 
  

	16	CONSENT TO RIGHTS OF SECURED PARTIES 

 16.1 Contractor
acknowledges that Owner will be financing the Project, through a combination of debt, equity and prepayments from Owner’s customers. In connection with any debt financing, the lenders and the collateral agent may request Contractor to execute
consents and provide a legal opinion. As such, Contractor agrees that on or prior to the date of financial closing on Owner’s 

  

					
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senior credit agreement providing for the financing of the Project, Contractor shall (and hereby agrees to) enter into a consent and agreement for the
benefit of the collateral agent and secured parties substantially identical to the form of consent and agreement attached as Exhibit E hereto (the “Consent”), and Contractor shall (and hereby agrees, and instructs its
counsel, to) provide an opinion of legal counsel substantially in the form and scope of the form of legal opinion attached to the Consent as Exhibit A. Unless the Consent or Legal Opinion are substantially different than Exhibit E,
Contractor’s refusal to sign the Consent or provide the Legal Opinion for any reason shall constitute a material breach of this Agreement entitling Owner to immediately terminate the Agreement. 
  

	17	GENERAL PROVISIONS 

 17.1 DISPUTE RESOLUTION. If any
controversy or Claim arises out of or relates to this Agreement, or breach thereof, the parties agree to the following procedure: 
 17.1.1 DIRECT NEGOTIATION. The Parties shall initially attempt to resolve the dispute by direct negotiation in an amicable manner. 
 17.1.2 MEDIATION. If the Parties fail to reach agreement by direct negotiation within thirty (30) days from the commencement of negotiation, the parties will submit the dispute to non-binding mediation under the
Construction Industry Mediation Rules of the American Arbitration Association. The mediation shall be held in the county and state where the Project is located, unless otherwise agreed to by the parties in writing. 
 17.1.3 ARBITRATION. If the Parties cannot settle the dispute by non-binding mediation within 60 days from the commencement of mediation,
the dispute shall be settled by arbitration in accordance with the Construction Industry Arbitration Rules of the American Arbitration Association then in effect unless the parties mutually agree otherwise. In any such arbitration proceeding, either
party may join any third party who participated in the Project who is or may be necessary to resolution of the dispute. Such arbitration proceeding shall be held in the county and state where the Project is located, unless otherwise agreed to by the
parties in writing. 
 17.1.4 DEMAND FOR ARBITRATION. Notice of the demand for arbitration shall be filed in writing with the
other Party to this Agreement and with the American Arbitration Association within 60 days after the Parties fail to reach agreement by non-binding mediation. 
 17.1.5 DISCOVERY BEFORE ARBITRATION. Prior to any arbitration hearing, discovery shall be limited to: interrogatories; requests for
production of documents; exchange of written reports prepared by expert witnesses retained by any party to the proceeding; depositions of such expert witnesses; and depositions of no more than ten (10) witnesses by each party, unless otherwise
agreed to by the parties in writing. The Parties shall be entitled to take such discovery from third parties as agreed to or as ordered or approved by the arbitrator(s). 
 17.1.6 JUDGMENT. Judgment upon the award rendered by the arbitrators shall be final and may be entered in any court having lawful
jurisdiction thereof. 
 17.1.7 PERFORMANCE PENDING RESOLUTION OF DISPUTE. Unless otherwise agreed in writing, Contractor
shall continue its services and maintain its progress during any dispute resolution proceedings, and Owner shall continue to make payments to Contractor in accord with this Agreement. 
  

					
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 17.2 Assignments; Subcontracting. For subcontracts greater than 5% of the estimated Contract Price, Contractor shall not in any way
assign, transfer or otherwise transfer the obligations or the benefits of this Agreement, in whole or in part, without the prior written consent of Owner which shall not be unreasonably withheld, and any attempt by Contractor to do any of the
foregoing without Owner’s prior written consent shall be void and of no effect. If Contractor does, with the prior written consent of Owner assign this Agreement, in whole or in part, it shall require its assignee to be bound by the terms of
this Agreement and to assume all of the obligations and responsibilities of Contractor. Each first-tier subcontract to which Owner consents in writing pursuant to the provisions of this paragraph is hereby assigned by Contractor to Owner provided
that such assignment shall be effective only after termination of this Agreement and only if Owner or another contractor appointed by Owner is prepared to perform Contractor’s obligations under such subcontract, as the case may be, whereupon
such subcontract shall continue in full force and effect in favor of such successor to Contractor. Any such assignment or subcontracting shall not operate to release Contractor from any of its obligations and liabilities hereunder unless
specifically provided in Owner’s written consent. In such cases where Owner may request a specific Subcontractor, Contractor may request an increase in Contract Price if use of said Subcontractor causes an increase in total cost. 
 17.3 Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the state in which
the Work is performed, excluding its conflicts of law rules. 
 17.4 Amendments and Integration. This Agreement shall
constitute the complete and entire agreement between the parties hereto with respect to the subject matter hereof. No prior or contemporaneous statement or agreement, oral or written, shall vary or modify the written terms of this Agreement. In the
event of any conflict among the Statement of Work and any Drawings or Specifications, Contractor shall furnish the better quality or greater quantity of work or materials. This Agreement may be amended only by a written document signed by both
Parties, stating that it is intended to amend this Agreement. 
 17.5 Notices. All notices, requests, demands, replies and
other communications required or permitted to be given by either Owner or Contractor hereunder shall be in writing and shall be deemed to have been given if delivered in Person or by facsimile, e-mail, overnight delivery service or by first class
certified mail, with return receipt requested, postage and fees prepaid, to the address of the intended recipient as set forth below. Notice delivered in Person shall be acknowledged in writing at the time of receipt. Notice delivered by facsimile
or e-mail shall be acknowledged by return facsimile or e-mail within twenty-four (24) hours, excluding Saturdays, Sundays and public holidays. All such notices, requests, demands, replies and other communications shall be deemed to have been
received by the addressee, if by mail, five (5) Days following deposit with the United States Postal Service, if by facsimile or e-mail, twenty-four (24) hours following transmission and electronic confirmation of receipt; if by national
overnight delivery service, 12:00 noon the Day following deposit with such service under a request for 10:00 a.m. delivery; or if by personal delivery, upon such delivery. All such notices, requests, demands, replies and other communications shall
be sent to the following addresses: 
  

					
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 To Owner: 
 HOKU MATERIALS, INC. 
 1 Hoku Way

 Pocatello, Idaho 83204 
 Attn: Karl M. Taft III 
 Phone: 808-682-7800 
 Facsimile: 808-682-7807 
 E-mail: [*] 
 With a copy to: 
 HOKU SCIENTIFIC, INC. 
 1075 Opakapaka Street 
 Kapolei, Hawaii 96707 
 Attn: Dustin Shindo 
 Phone: 808-682-7800 
 Facsimile: 808-682-7807 
 E-mail: [*] 
 To Contractor: 
 JH Kelly LLC 
 821 3rd Avenue, 
 Longview, WA 98632 
 Attention: Mason Evans, President 
 Phone: 360-423-5510 
 Fax: 360-423-9170 
 E-mail: [*] 
 With a copy to: 
 JH Kelly LLC 
 2311 East First Street 
 Vancouver, WA 98661 
 Attention: Mark Fleischauer 
 Phone: [*] 
 Facsimile: [*] 
 E-mail: [*] 
 The foregoing addresses may be changed by either party by
giving notice to the other as provided above. 
  

					
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 17.6 Rights and Remedies. The failure of either party to exercise any right under this Agreement shall not, unless otherwise provided or agreed in writing, be deemed a wavier thereof. No waiver by either party of any
provision hereof shall be deemed a waiver of any future compliance therewith, and such provision shall remain in full force and effect. 
 17.7 Relation of the Parties. In connection with the provision of the Work, Contractor shall operate as and shall have the status of an independent contractor. Nothing in this Agreement shall be construed as establishing or creating the
relationship of principal and agent, partners, or joint venturers between Owner and Contractor, or the employees, agents and representatives of Contractor. 
 17.8 Severability. In the event that any clause or provision in this Agreement shall, for any reason, be deemed illegal, invalid or unenforceable, the remaining provisions and clauses shall not be affected, impaired
or invalidated and shall remain in full force and effect. In lieu of such illegal, invalid or unenforceable provision, there shall be added automatically as a part of this Agreement a provision as similar in terms to such illegal, invalid or
unenforceable provision as may be possible and be legal, valid and enforceable. 
 17.9 Headings. The headings contained in this Agreement
are for ease of reference only and shall not limit or otherwise affect the meaning hereof. 
 17.10 Time. All time limits provided for herein
are of the essence of this Agreement. 
 17.10.1 See Sections 10.1.1 and 10.1.3 for Contractor default. 
 17.10.2 A verbal or written notification by Contractor for potential extension of time shall be made by Contractor to Owner, not more
than thirty (30) Days after the commencement of the delay; otherwise the right to request an extension shall be waived. In the case of a continuing delay only one claim is necessary. Contractor shall then within 30 additional Days or as soon as
reasonably possible thereafter provide a written estimate of the probable effect of such delay on the progress of the Work. 
 17.11 Approvals. Each party represents and warrants to the other that its Board of Directors has adopted resolutions and taken all requisite action required to approve this Agreement and authorize its execution. 
 17.12 Survival. Except as otherwise provided herein, warranties, covenants and obligations under this Agreement (including, without
limitation, those set forth in Section 3.9 and in Sections 7.4 through 7.7), shall survive the termination or cancellation of this Agreement for services provided prior to termination or cancellation, regardless of the reason for such
termination or cancellation, and shall continue in full force and effect. 
 17.13 Contractor Bonds. Contractor shall not be
obligated to provide any bonds, including payment and performance, to perform this Work. 
 [Signature page follows.] 
  

					
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 EXECUTION COPY 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized representatives on the respective dates set forth below each of their signatures, to be effective, however, as
of the date first written above. 
  

									
	HOKU MATERIALS, INC.	 		 	JH KELLY LLC
					
	By:	 	/s/ Dustin M. Shindo	 		 	By:	 	/s/ Mason M Evans
					
	Name:	 	Dustin M. Shindo	 		 	Name:	 	Mason M Evans
					
	Title:	 	Chief Executive Officer	 		 	Title:	 	President

  

					
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 EXECUTION COPY 
  
 EXHIBIT A 
 STATEMENT OF WORK 
 This Statement of Work further defines the Work to be performed by Contractor pursuant to the Cost Plus Incentive Construction Contract dated as of August 8, 2007, between HOKU MATERIALS, INC. and JH KELLY LLC
(the “Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 Contractor shall provide the construction
services as a general contractor to complete the Project on the Site (as more fully described on Appendix 1 to this Statement of Work), which shall be based on the description below, the Drawings attached hereto as Appendix 2, the technical
specifications attached hereto as Appendix 3 and such additional plans, drawings and diagrams and technical specifications as shall be provided from time to time by Owner and its contractors. 
 Project Objective: 
 Produce a minimum of 2,000 metric tons
(MT) annually of solar grade purity polycrystalline silicon for sale to the solar cell industry. 
 General Process Description: 
 Polysilicon is produced by a batch process where trichlorosilane (TCS) gas and hydrogen are combined in a number of reactors at approximately 2,000° F and the solid
silicon released from the reaction is deposited onto a silicon filament inside the reactor. 
 Production of polysilicon can be separated into several
processing functions as follows: 
 Feed Preparation and Purification: 
 [*] 
 Polysilicon Production: 
 [*] 
 [*] 
 Polysilicon Product Handling:

 [*] 
 Polysilicon Support Areas: 
 [*] 
 In furtherance of the foregoing, Contractor shall act as general
contractor to perform or facilitate the light and industrial construction and project controls to complete the Project. Construction will be direct or subcontractor based and includes in part the following disciplines: 
  

	 	•	 	 Earthwork, Excavation and Grading 

	 	•	 	 Concrete Foundations, Paving and Structures 

	 	•	 	 Structural Erections 

	 	•	 	 Equipment Erection 

	 	•	 	 Pipe Fabrication and Erection 

	 	•	 	 Electrical and Instrumentation 

	 	•	 	 Painting 

	 	•	 	 Insulation 

  

					
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 EXECUTION COPY 
  

	 	•	 	 Site security 

 Contractor acknowledges that this is
a Greenfield Project and that Contractor has taken into consideration the additional costs incidental to a Greenfield Project in its Target Price such as site preparation, fencing, road access and securing necessary utilities, among others.

 Attachments to Exhibit A 
 Appendix 1 – Description of
Site 
 Appendix 2 – Technical Specifications 
 Appendix 3
– Drawings 
  

					
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 Appendix 1 
 Description of Site 
 The following Drawings are attached to this Appendix 1 pursuant to the Cost Plus Incentive Construction Contract dated as of August 8, 2007, between HOKU MATERIALS, INC. and JH KELLY LLC (the
“Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 Preliminary Plot Plans: 
 [*] 
 [*] 
  

					
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 [*] 
  

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 EXECUTION COPY 
  
 Appendix 2 
 Technical Specifications 
 The following technical specifications are provided pursuant to the Cost Plus Incentive Construction Contract dated as of August 8, 2007, between HOKU MATERIALS,
INC. and JH KELLY LLC (the “Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 TCS Production Method: [*]

 Polysilicon Purity Specifications: 
  

							
	 Type
	 	 Bulk elements
	 	 Value
	 	 Unit

	 Acceptors
	 	[*]	 	[*]	 	[*]
	 	 	 	 	 	 	 
	 Donors
	 	[*]	 	[*]	 	[*]
	 	 	 	 	 	 	 
	 [*]
	 	[*]	 	[*]	 	[*]
	 	 	 	 	 	 	 
	 [*]
	 	[*]	 	[*]	 	[*]
	 	 	 	 	 	 	 
	 [*]
	 	[*]	 	[*]	 	[*]
	 	 	 	 	 	 	 

  

	 	•	 	 [*]    [*] 

	 	•	 	 [*]    [*] [*] 

	 	•	 	 [*]                [*] 

	 	•	 	 [*]                [*] 

	 	•	 	 [*]                [*] 

	 	•	 	 [*]                        [*]

	 	•	 	 [*]                        [*]

	 	•	 	 [*]                [*] 

	 	•	 	 [*]                [*] 

 More detailed technical specifications within the scope set forth in the Statement of Work and the Drawings will be released upon completion of the engineering design
for the Project. 
  

					
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 Appendix 3 
 Drawings 
 The following Drawings are attached to this Appendix 3 pursuant to the Cost Plus Incentive Construction Contract dated as of August 8, 2007, between HOKU MATERIALS, INC. and JH KELLY LLC (the
“Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 Preliminary Block Flow Diagrams: 

[*] 
 [*] 
 [*] 
 Preliminary Process Flow Diagrams: 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
  

					
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 EXHIBIT B 
 PROJECT SCHEDULE 
 The following Project Schedule is attached as Exhibit B to the Cost Plus Incentive Construction Contract dated as of August 8, 2007, between HOKU MATERIALS, INC. and JH KELLY LLC (the
“Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 The “Preliminary Reactor Test Demonstration”
is scheduled for completion on or before October 31, 2008. 
 The “Mechanical Completion” is scheduled to be accomplished on or before
January 31, 2009. 
 “Substantial Completion” is scheduled to be accomplished on or before May 31, 2009. 
 It is understood by Owner and Contractor that the Project Schedule outlined above is a target. In no event, however, does Contractor represent or warrant to Owner that
the Project Schedule will be achieved, and subject to Owner’s remedies pursuant to the Agreement for Contractor’s failure to perform, Contractor shall be paid for the Cost of the Work pursuant to the Agreement regardless of the actual
completion schedule. 
  

					
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 EXECUTION COPY 
  
 EXHIBIT C 
 COST OF THE WORK 
 This Exhibit C further defines the Cost of the Work pursuant to the Cost Plus Incentive Construction Contract dated as of August 8, 2007, between HOKU MATERIALS, INC. and JH KELLY LLC (the
“Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 A. Cost of the Work. The Cost of the Work
shall be limited to costs reasonably incurred by the Contractor in the proper performance of the Work (as further described below, the “Cost of the Work”), which shall exclude any components supplied by Owner or others. Contractor
equipment, labor and supervision shall in be billed in accordance with Contractor’s then current rate schedules (the version effective as of the execution date of this Agreement is attached hereto as Appendix 1 to this Exhibit C). All remaining
costs shall be at rates comparable to the standard paid at the place of the Project. Contractor is directed to employ a forty (40) hour work week and not utilize overtime or premium time rates or incur material or equipment expediting costs,
unless the Owner has approved the use of such overtime or premium time or expediting costs in advance. In addition, Contractor shall keep Owner regularly apprised of crew sizes and shall provide written monthly reports documenting actual versus
estimated man-hours expended in the course of the Work. The Cost of the Work shall include only the items set forth in this Section, as follows: 
  

	1.	Wages of construction workers directly employed by the Contractor to perform the construction of the Work at the site or in Contractor’s fabrication facilities.

  

	2.	Wages of construction workers directly employed by the Contractor to perform the construction of the Work at locations other than the Site, provided that the nature and scope of
such off-Site Work is approved in writing in advance by Owner. 

  

	3.	Wages or salaries of the Contractor’s supervisory and administrative personnel wherever located or engaged, but only for that portion of their time required for and directly
related to the performance of the Work. 

  

	4.	Costs paid or incurred by the Contractor for employee-related insurance, contributions, assessments, travel, subsistence and benefits required by law or collective bargaining
agreements and, for personnel not covered by such agreements, customary benefits such as employee-related insurance, contributions, assessments, sick leave, medical and health benefits, holidays, vacations and pensions, provided such costs are based
on wages and salaries included in the Cost of the Work under Paragraphs 1 2, and 3 above. 

  

	5.	Actual payments made by the Contractor to Subcontractors in accordance with the requirements of the applicable subcontracts and supply contracts. 

  

	6.	Costs, including transportation and installation, of materials and equipment incorporated or to be incorporated in the completed Project. Costs, including transportation,
installation, maintenance, dismantling and removal, of materials, supplies, temporary facilities, machinery, equipment and hand tools not customarily owned by the construction workers which are provided by the Contractor at the site and fully
consumed in the performance of the Work; and cost less salvage value on such items if not fully consumed, whether sold to others or retained by the Contractor. Cost for items previously used by the Contractor shall be fair market value.

  

					
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	7.	Rental costs of machinery and equipment used in the performance of the Work; provided that in no event shall such rental costs paid for particular items of machinery or equipment
exceed the market rate purchase price of such items. 

  

	8.	Costs of installing equipment and components furnished by the Owner (“Owner-Furnished Components”). 

  

	9.	Costs of removal and disposal of debris from the Project site. 

  

	10.	Premiums for insurance, to the extent of the portion directly attributable to this Agreement. 

  

	11.	Costs of permits, fees, tests and inspections paid by the Contractor. 

  

	12.	Costs relating to any general conditions and overhead reasonably allocable to the Work and not to any other project. These costs include items such as utilities, telecommunications,
water coolers, portable toilets, Site security, etc. 

  

	13.	Cost of the building permit, if obtained by the Contractor; provided, that this cost shall not be subject to Contractor’s Fee. 

  

	14.	Other costs incurred in the performance of the Work if and to the extent approved in advance in writing by the Owner. 

 A Costs Not to be Reimbursed. The Cost of the Work shall, except to the extent reasonably allocable to the Work or the Project, exclude the following: 
  

	1.	Wages, salaries and other compensation of the Contractor’s and Subcontractors’ personnel for their time not required for the performance of the Work.

  

	2.	Expenses of the Contractor’s principal office and other offices. 

 IV. Target Price: 
 Estimated Cost of the Work: 
  

				
	 Sitework/Earthwork:
	  	 	[*]
	 Concrete, Grout, Masonry/Building, Structural Steel:
	  	 	[*]
	 Process Equipment & Piping:
	  	 	[*]
	 Electrical and Instrumentation:
	  	 	[*]
	 Miscellaneous (Paint, Insulation, etc.):
	  	 	[*]
	 Rental Equipment:
	  	 	[*]
	 Home Office/Field Staff/Indirects:
	  	 	[*]
	 Other (State & Local Tax):
	  	 	[*]
	 Fee ([*] of Cost of the Work):
	  	 	[*]
	 Schedule Incentive Fee:
	  	 	[*]
	 Safety Incentive Fee:
	  	 	[*]
	 Total Estimated Target Price:
	  	$	120,000,000

  

	 Budget Incentive Fee: 
	 ([*] of difference between actual Cost of the Work and Total Estimated Target Price if actual Cost of the Work is less than 

  

					
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	 	 Total Estimated Target Price, pursuant to Section 9.2.2.1 of the Agreement) 

 It is understood by Owner and Contractor that the Total Estimated Target Price and the Schedule Incentive Fee outlined above are only intended to provide an incentive for
Contractor to put forth extra efforts to minimize costs and meet the Project Schedule. In no event, however, does Contractor represent or warrant to Owner that the Total Estimated Target Price or the Project Schedule will be achieved, and Contractor
shall be paid for the Work pursuant to the Agreement regardless of the actual Cost of the Work or the actual schedule. 
  

					
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 APPENDIX 1 TO EXHIBIT C 
 CONTRACTOR’S RATE SHEET 
  

					
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 JH KELLY, LLC 
 Hoku Scientific, Inc. Longview, WA Craft Cost Rate: 
 Date Issued              8/7/07 klw
                         
  

									
	 	 	 	 
	CLASSIFICATION	  	 STRAIGHT    
 TIME    
	 	TIME &    
A HALF    	 	DOUBLE    
TIME    
	 PIPEFITTERS LOCAL #26 LV ZONE 5,6,7
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 06-01-07 TO 12-31-07
	  		 		 	
				
	 MILLWRIGHTS LOCAL #1707 LONGVIEW, WA
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN B
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 SUPERINTENDENT
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 06-01-07 TO 12-31-07
	  		 		 	
				
	 CARPENTERS LOCAL #1707 LONGVIEW, WA
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN B
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 06-01-07 TO 12-31-07
	  		 		 	
				
	 BOILERMAKERS LOCAL #502 TACOMA, WA
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 ASSISTANT FOREMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 10-01-06-TO 09-30-07
	  		 		 	
				
	 OPERATING ENGINEERS LOCAL #701 ZONE
	  		 		 	
	 APPRENTICE 80%
	 		  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	GROUP 2	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	GROUP 2	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	GROUP 4	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	GROUP 4	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 01-01-07 TO 12-31-07
	  		 		 	
				
	 LABORERS LOCAL #791 LONGVIEW, WA
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 06-01-07 TO 12-31-07
	  		 		 	
				
	 IRONWORKERS LOCAL #29 PORTLAND, OR
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 06-01-07 TO 12-31-07
	  		 		 	
				
	 CEMENT MASONS LOCAL #528 SEATTLE, WA
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 06-01-07 TO 12-31-07
	  		 		 	
				
	 ELECTRICIANS LOCAL #970 LONGVIEW, WA
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 06-01-07 TO 12-31-07
	  		 		 	

  

	
	 NOTES
 1. RATES INCLUDE SMALL TOOLS PER AGREEMENT
 2. MARK-UP FOR MATERIALS, SUBS, AND THIRD PARTY RENTALS PER CONTRACT

3. TRAVEL PER COLLECTIVE BARGAINING AGREEMENT
 4. PREMIUM PAY MAY BE
REQUIRED BASED ON CRAFT AVAILABILITY

  

 Page 57 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 [*] 
  

 Page 58 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 JH KELLY, LLC 
 Hoku Scientific, Inc. Pocatello, ID Craft Cost Rate: 
 Date Issued          8/7/07 klw
                     
  

									
	 	 	 	 
	CLASSIFICATION	  	 STRAIGHT    
 TIME    
	 	TIME &    
A HALF    	 	DOUBLE    
TIME    
	 PIPEFITTERS LOCAL #648 POCATELLO, IDAHO
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 7-01-07 TO 12-31-07
	  		 		 	
				
	 MILLWRIGHTS LOCAL #808 IDAHO FALLS, IDAHO
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN B
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 07-01-07 TO 12-31-07
	  		 		 	
				
	 CARPENTERS LOCAL #808 IDAHO FALLS, IDAHO
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN B
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 07-01-07 TO 12-31-07
	  		 		 	
				
	 BOILERMAKERS LOCAL #182 SALT LAKE CITY, UTAH
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 ASST. FOREMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 10-01-06-TO 09-30-07
	  		 		 	
				
	 OPERATING ENGINEERS LOCAL #370 POCATELLO, IDAHO
	  		 		 	
	 APPRENTICE 80%
	 		  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 2
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 2
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 3
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 3
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 4
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 4
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 5
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 5
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 6
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 6
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 01-01-05 TO 12-31-07
	  		 		 	
				
	 LABORERS LOCAL #155 IDAHO FALLS, IDAHO
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 2
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 2
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 3
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 3
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 4
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 4
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 5
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 5
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	 	 GROUP 6
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	 	 GROUP 6
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 01-01-07 TO 12-31-07
	  		 		 	
				
	 IRONWORKERS LOCAL #732 POCATELLO, IDAHO
	  		 		 	
	 APPRENTICE 80%
	  	[*]	 	[*]	 	[*]
	 JOURNEYMAN
	  	[*]	 	[*]	 	[*]
	 FOREMAN
	  	[*]	 	[*]	 	[*]
	 GENERAL FOREMAN
	  	[*]	 	[*]	 	[*]
	 EFFECTIVE 06-01-07 TO 12-31-07
	  		 		 	

  

	
	 NOTES
 1. RATES INCLUDE SMALL TOOLS PER AGREEMENT
 2. MARK-UP FOR MATERIALS, SUBS, AND THIRD PARTY RENTALS PER CONTRACT
 3. TRAVEL PER COLLECTIVE BARGAINING AGREEMENT
 4. PREMIUM PAY MAY BE REQUIRED BASED ON CRAFT AVAILABILITY

  

 Page 59 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 REIMBURSABLE MATERIALS & SUPPLIES 

			
	FOR: JH KELLY, LLC	  	PAGE 1 OF 1

 Please note: Items designated as “Materials &
Supplies” are billable as materials with 8% mark-up, or per Contract. 
  

					
	 DESCRIPTION
	  	 	  	 
	 Abrasives and Abrasive Wheels
	  	Electric Light Bulbs (permanent	  	Paint and Paint Remover
	 Acetylene
	  	installation)	  	Paint Brushes
	 Acid Suites
	  	Electrical Tape	  	Paper – Sand, Emery, Building,
	 Acids – Battery, Soldering &
	  	Electric Wiring	  	etc.
	 Picking
	  	Electrodes – Welding	  	Paste – Solder
	 Additives
	  	Emery Cloth	  	Patterns – Pipe Layout
	 Adhesives
	  	Faucets	  	Permatex
	 Alcohol
	  	Film – Photographic	  	Pipe Compound
	 Anti-Freeze
	  	Filters – All Types (Element)	  	Plywood
	 Arbors – Holesaw, Grinders
	  	Flares – Railroad	  	Polyethylene & Visqueen
	 Argon
	  	Flints – Welding Lighters	  	Preservatives – Rust
	 Barrels – Water, Trash, etc.
	  	Fluids – Washing, Clearing	  	Prest-o-lite
	 Blades – Circ. Saw, Band Saw,
	  	Flux – Brazing, Solder	  	Primers – Paint, etc.
	 Hacksaw, Diamond, etc.
	  	Friction Tape	  	Protective Coating – Pipe
	 Blankets – Asbestos
	  	Fuses – Electric	  	Pulling Lube
	 Blocking – (for stacking materials)
	  	Gas Masks and Cartridges	  	Rags
	 Bolts and Nuts
	  	Gases – Industrial (all types)	  	Respirators – Disposable,
	 Brazing – Rod or Wire
	  	Gasket Material (all types)	  	Cartridge, Pouch
	 Brushes – Making, Acid
	  	Glue	  	Rods – Welding, Brazing, Pencil
	 Cable – Wire Rope (if not used in
	  	Grease	  	Rope – All Kinds
	 JHK Equipment)
	  	Grinding Compound	  	Runways – Wood
	 Canvas
	  	Grinding Wheels	  	Rust Preservatives
	 Carbide
	  	Hand Lines	  	Sand Blast Sand
	 Carbon Tetrachloride
	  	Hardware Cloth	  	Sand Paper
	 Caulking Compound
	  	Hasps	  	Saw – Blades
	 Clamps – Cable, Hose
	  	Heliarc – Parts	  	Scaffold – Materials (wood, metal,
	 Clean Room Garments
	  	Hole Saw – Blades	  	etc.)
	 Cleaning Compound
	  	Horses – Wood	  	Scaffold – Systems (Owned or 3rd
	 Clips – Cable, Wire Rope
	  	Hose – Air Steam	  	Party Rental)
	 Cloth – Emery, Straining, Wiping
	  	Ice	  	Solder
	 Compound – Brazing, Grinding,
	  	Insecticides	  	Solvents
	 Sweeping
	  	Iron – Banding	  	Splicing Kits
	 Connectors – Hose, Welding
	  	Jute	  	Star Drills
	 Cable Replacement
	  	Kerosene	  	Steel Wool
	 Cooler – Water (Ice Type for
	  	Lead	  	Stencils – Number, Letters
	 Field)
	  	Locks	  	Stress Relieving Supplies
	 Cribbing
	  	Lubrication	  	Sweeping Compound
	 Cutting Wheels – Abrasive, Steel
	  	Lugs – Solder	  	Taps – Bolts, Pipe
	 Dies – Pipe, Bolt (replacement)
	  	Lumber – All Kinds	  	Thinners – Paint, etc.
	 Discs – Cutting
	  	Masks – Dust Gas	  	Thread Dope
	 Disinfectants
	  	Nails	  	Timbers
	 Demolition Points – Moil
	  	Nitrogen	  	Tips – Cutting Welding
	 Dope – Pipe
	  	Nomex & Cleaning	  	Twine
	 Dope Pot
	  	Nuts and Bolts	  	Waste – Wiping
	 Drill Bits – All Types (Star & Twist)
	  	Oakum	  	Wedges – Wood, Steel
	 Drop Cloths
	  	Oil – All Types	  	Welding Rod
	 Dry Ice
	  	Oxygen	  	Wheels – Cutting, Grinding
	 Dunnage
	  	Padlocks	  	Wire – Electrical, Tie, etc.
	 Dynamite
	  	Pails	  	

 Note: 

	1.	Listing is intended to be representative and may not include all items required to effect each specific craft or the project. 

  

 Page 60 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 REIMBURSABLE MATERIALS & SUPPLIES 

			
	FOR: JH KELLY, LLC	  	PAGE 1 OF 2

 Please note: Items designated as “Small Tools &
Supplies” are included in our labor mark-up. 
  

					
	 DESCRIPTION
	  	 	  	 
	 Acetylene Torches
	  	Chasers – Thread, Pipe	  	Furnace – Plumbers
	 Air Conditioner – Office
	  	Chipper – Air	  	Gang Box
	 Air Horns
	  	Chisels – Caulking, Cold	  	Gauges – Drill, Wire, Thread, etc.
	 Aprons
	  	Chokers, Wire Rope	  	Glass – Goggles, Welding Hood
	 Auger – Hand
	  	Clamps – “C”	  	Gloves – Rubber, Welding, Cloth,
	 Auger – Power
	  	Clay Spade – Air	  	etc.
	 Axes
	  	Clay Spade – Hank	  	Goggles
	 Badges – Identification
	  	Coats – Rain, Welding	  	Grinders – Air
	 Banding Machine
	  	Coffee	  	Grinders – Bench (Electric)
	 Bands – Safety Hat, Sweat
	  	Combination Sets	  	Grinders – Elec. Lag. Side/End
	 Bars – Pinch, Crow, Wrecking
	  	Come-A-Long – 1 1/2 Ton & Up	  	Grinders – Pencil
	 Batteries – Dry Cell, Flashlight
	  	Concrete Vibrator – Air, Electric	  	Hacksaw – Frames
	 Belt – Pipe Sling
	  	Cords – Extension	  	Hammers – Electric
	 Benders – Hand
	  	Crayon – Marking	  	Hammers – Hand
	 Bibs – Welding
	  	Crescent Wrenches	  	Hand Saws
	 Binders – Load
	  	Cutter Jaws and Wheels	  	Handles – Hand Tool
	 Bits – Expansion, Gimlet
	  	Cutters – Bolt, Gasket, Wire, Pipe	  	Handles – Ratchet
	 Blocks – Snatch, Tackle (under 25
	  	Cutting Outfits – Complete	  	Hard Hats and Liners
	 ton)
	  	Dial Indicators	  	Hatchets
	 Bolt Cutter
	  	Die Holders, Stocks	  	Hats – Safety, Rain, Liners, Bands
	 Bolt Cutter Jaws
	  	Diggers – Hold (Hand)	  	Hilti Guns, (all types)
	 Boots – Rubber
	  	Dippers – Water	  	Holders – Electrode
	 Boroscope
	  	Dispensers – Field, Salt Tablet,	  	Hoods – Sandblasting, Welders
	 Box Wrenches
	  	etc.	  	Hose – Garden
	 Boxes – Small Tools (Wood or
	  	Dollies – Pipe	  	Hose – Welding Tail
	 Steel)
	  	Drift Pins	  	Impact Wrenches –1/2” Drive and
	 Braces – Hand Drill
	  	Drills – Air Operated	  	under
	 Brake Fluid
	  	Drills – Electric up to & incl. 1/2”	  	Impact Wrenches - 5/8” Drive and
	 Brass Tags – Tool Check
	  	Drills – Hand Operated	  	over
	 Brooms
	  	Drinking Cups	  	Iron – Caulking, Soldering
	 Buckets – Water
	  	Drop Lights	  	Jacks – 10 Ton or Less (no porto-
	 Bulbs – Flashlight
	  	Drums – Oil, Kerosene, Gasoline	  	power)
	 Cable – (Electrical Cord – not
	  	Edges – Straight (Beveled Edge)	  	Jaws – Pipe Cutter, Wrench, etc.
	 welding)
	  	Edges – Straights, Wood	  	Keel – Lumber Crayon
	 Cable – Welding
	  	Electric Light Bulbs (construction,	  	Knives – Putty, roofing, etc.
	 Calipers – Pipe
	  	temporary)	  	Ladders – Aluminum
	 Candles – Plumbers
	  	Electrode – Holder	  	Ladders – Wood
	 Cans – Oil, Gasoline, Water
	  	Extension Cords	  	Ladles – Melting, Lead Pouring
	 Cant Hook
	  	Extinguishers – Fire (incl. refills)	  	Lamps – Electric, Kerosene
	 Caps – Torch
	  	Extractors	  	Lenses – Goggles, Welding Hood
	 Carts – Warehouse
	  	Files – All Hand	  	Letters – Steel Stamping
	 Center Punch
	  	Fire Extinguishers (incl. refills)	  	Levels - Metal
	 Chain
	  	First Aid Kits and Supplies	  	Levels – Wood
	 Chain Hoist – 1 Ton and Under
	  	Flaring Tools – Tubing	  	Lighters – Friction
	 w/8’ Lift
	  	Flashlights	  	Line – Chalk, Mason
	 Chain Hoist – Over 1 Ton
	  	Frames – Hacksaw	  	Load Binders
	 Chalk – Marking, Line
	  	Funnels	  	

  

 Page 61 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 REIMBURSABLE MATERIALS & SUPPLIES 

			
	FOR: JH KELLY, LLC	  	PAGE 2 OF 2

  

					
	 Lubrictors (Airline, as part of
	  	Rivet Hammers – Air	  	Squares – Steel
	 equipment)
	  	Rods – Line and Level	  	Stamps – Steel, Stencil, etc.
	 Mauls
	  	Rollers – Wood, Pipe	  	Steel Tapes – Measuring
	 Measuring Cans
	  	Rules – Field Craftsman	  	Stocks 0 (with initial set of dies)
	 Measuring Tapes
	  	Runners – Lead Joint	  	Straight Edges – Metal
	 Mops
	  	Safety Equip-Stretchers, Goggles,	  	Straight Edges – Wood
	 Nibblers – Electric
	  	Hard Hats	  	Supplies – First Aid, Washroom
	 Oil Cans
	  	Saw – Chain	  	Tail Hose 0 Oxygen, Acetylene
	 Ovens – Lg. Rod
	  	Saws – Skil 8” Blade, Saber,	  	Tapes – Friction, Fish, Measuring
	 Ovens – Sm. Rod
	  	Coping	  	Tar Kettles – Kerosene Fired
	 Pencils – Carpenters & Lbr.
	  	Screwdrivers	  	Themometers
	 Marking
	  	Shackles	  	Tip Cleaners – Oxygen, Acetylene
	 Pick Axe
	  	Shears – Hand	  	Torches – Toledo
	 Pins – Drift, etc.
	  	Shears – Heavy Duty Elec.	  	Trucks – Hand, Oxygen, Acet.,
	 Pliers – All Types
	  	Shield – Face	  	Warehouse
	 Plum Bobs
	  	Shovels – Hand	  	Tube Benders – Hand
	 Plumbers Friend
	  	Sledges – All Sizes	  	Tubing Cutters
	 Pots – Lead Melting
	  	Sleeves – Welder	  	Vacuum Cleaners – High
	 Pumps – Hand
	  	Slings – All Kinds	  	Efficiency
	 Raincoats and Hats
	  	Snips – Tin	  	Vacuum Cleaners – Industrial
	 Rakes
	  	Soap	  	Vests – Welding
	 Rasps – All Types
	  	Soapstone	  	Vises – Bench, Pipe
	 Ratchets
	  	Sockets – Wrenches (up to & incl.	  	Wagon Drill Steel
	 Reamers – All Types
	  	3/4” drive)	  	Welding Screens
	 Reels – Cable
	  	Soldering – Irons	  	Wheelbarrows
	 Regulators – Oxygen, Acetylene
	  	Spades – Hand	  	Wrecking Bars
	 Respirators – Air Hood
	  	Spud Wrenches	  	Wrenches – Hand (all types)

 Note: 
 1. Listing is intended to be representative and may not include all items required to effect each specific craft or the project. 
  

 Page 62 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 STANDARD SMALL TOOLS LIST / 3RD PARTY EQUIPMENT 

			
	FOR: JH KELLY, LLC	  	PAGE 1 OF 1

  

			
	 DESCRIPTION
	  	 REIMBURSABLE 
SMALL
TOOLS

	 Barricades – Flasher Type
	  	3rd Party Rental
	 Bits – Diamond Core
	  	3rd Party Rental
	 Blowers – Air, Large
	  	3rd Party Rental
	 Conduit Bender, Large
	  	3rd Party Rental
	 Fans – Electric (above 24”)
	  	3rd Party Rental
	 Hose – Pump, Suction & Discharge Water (above 2”)
	  	3rd Party Rental
	 Hot Tap Machine, Large
	  	3rd Party Rental
	 Lights – Flood, Large
	  	3rd Party Rental
	 Pumps – Electric, Gasoline Air (above 2”)
	  	3rd Party Rental
	 Radio – Walkie Talkie (special tank entering)
	  	3rd Party Rental
	 Salamanders
	  	3rd Party Rental
	 Sand Blast Nozzles
	  	3rd Party Rental
	 Tampers – Air
	  	3rd Party Rental
	 Tampers – Gasoline
	  	3rd Party Rental
	 Vibrators – Compaction
	  	3rd Party Rental
	 Diesel Fuel
	  	3rd Party Rental Category
	 Fuel – Gasoline, Kerosene, Butane, Diesel
	  	3rd Party Rental Category
	 Gasoline
	  	3rd Party Rental Category
	 LP Gas
	  	3rd Party Rental Category

 Note: 

	1.	Listing is intended to be representative and may not include all items required to effect each specific craft or the project. 

	

  

 Page 63 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 EXHIBIT D 
 OWNER-FURNISHED EQUIPMENT 
 This Exhibit D describes the Owner-furnished Equipment to be provided by Owner pursuant to the Cost Plus Incentive Construction Contract dated as of August 8, 2007, between HOKU MATERIALS, INC. and
JH KELLY LLC (the “Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 [*] 
 ] 
  

 Page 64 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 Exhibit E 
 Consent and Agreement 
 [Attached] 
  

					
	OWNER Initials & Date    /s/DS 8/7/07    	  		  	CONTRACTOR Initials & Date    /s/ME 8/8/07    

 Page 65 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 CONSENT AND AGREEMENT 
 This CONSENT AND AGREEMENT, dated as of
[            ], 2007 (as amended, restated, supplemented or otherwise modified from time to time, this “Consent”), is entered into by and among
[            ], a [            ] (together with its successors and assigns, the “Contracting Party”), HOKU MATERIALS,
INC., a Delaware corporation (together with its successors and assigns, the “Borrower”), and [            ], in its capacity as Collateral Agent for the Secured Parties (as
defined below) (together with its successors, designees and assigns in such capacity, the “Agent”) under the Intercreditor Agreement (as defined below). 
 RECITALS 
 A. The Borrower has entered into a Credit Agreement, dated as of
[            ], 2007 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among the Borrower, the financial institutions
from time to time parties thereto as lenders, and [            ], as administrative agent (the “Administrative Agent”). 
 B. The Contracting Party has entered into [            ], dated as of
[            ], 2007, (as amended, restated, supplemented or otherwise modified from time to time, the “Contract”), with the Borrower. 
 C. The Borrower intends to finance certain costs in connection with the development, construction, operation, maintenance and ownership of a polysilicon producing
processing plant with a nominal capacity of 2,000 metric tons per year, located in Pocatello, Idaho (the “Project”), with funds borrowed by the Borrower pursuant to the terms of the Credit Agreement. 
 E. As collateral security for all obligations of the Borrower to the Secured Parties (as defined below), the Borrower has, inter alia, assigned all of its rights, title
and interest (the “Assigned Interests”) in, to and under the Contract to the Agent pursuant to a Security Agreement, dated as of [            ], 2007 (as amended, restated,
supplemented or otherwise modified from time to time, the “Security Agreement”), made by the Borrower in favor of the Agent for the benefit of certain secured parties described therein (the “Secured Parties”) and in that certain
Collateral Agency and Intercreditor Agreement, dated as of [            ], 2007 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor
Agreement”), among the Borrower, Hoku Materials Holdings, Inc., the Agent, the Administrative Agent, the Contracting Party and the other Secured Parties party thereto. 
 F. Pursuant to the terms of the Intercreditor Agreement, the Secured Parties have appointed the Agent as collateral agent on their behalf and authorized the Agent to take certain actions and exercise such powers under
the Secured Obligation Documents (as defined in the Intercreditor Agreement) as are provided for therein. 
 G. The Borrower has requested that the
Contracting Party and the other parties hereto execute and deliver this Consent in fulfillment of certain obligations of the Borrower under the Credit Agreement. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing premises and for good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
  

	1.	Consent and Agreements. 

 (a) Subject to the terms and conditions of this
Consent, the Contracting Party acknowledges and consents to the assignment as collateral security to the Agent, for the benefit of the Secured Parties, of the 

  

					
	OWNER Initials & Date    /s/DS 8/7/07    	  		  	CONTRACTOR Initials & Date    /s/ME 8/8/07    

 Page 66 of 75 

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 
Assigned Interests. The Contracting Party further acknowledges the right of Agent or any designee of Agent, in exercise of Agent’s rights and remedies
as a secured creditor of Borrower, to make all demands, give all notices, take all actions and exercise all rights of Borrower under the Contract. 
 (b) The
Agent shall be entitled (but not obligated) to cure any defaults of the Borrower under the Contract in accordance with the provisions hereof. Upon receipt by the Contracting Party of written notice from the Agent, the Contracting Party agrees to
(i) accept such cure by the Agent and, subject to the terms and conditions of the Contract and cure of such defaults, to render to the Secured Parties all performance due by it under the Contract and this Consent, and (ii) act solely on
the instructions of the Agent, not the Borrower, with respect to the exercise of the Borrower’s rights under the relevant Contract. The Contracting Party agrees to make all payments to be made by it under the Contract directly to the Agent for
the benefit of the Secured Parties upon receipt of the Agent’s written instructions to do so and any such payments made to the Agent by the Contracting Party shall be deemed to have been made by the Contracting Party in fulfillment of the
Contracting Party’s obligations to the Borrower under the Contract. 
 (c) In all cases except as provided in the Contract or required by law, and in
accordance with Section 1(e) hereof, the Contracting Party will not, without the prior written consent of the Agent (such consent not to be unreasonably withheld), (i) cancel or terminate the Contract or suspend performance of its services
thereunder, or consent to or accept any cancellation, termination or suspension thereof by the Borrower, (ii) amend the Contract [NOTE: Exceptions will be limited to Change Orders otherwise permitted under the Credit Agreement], or
(iii) sell, assign or otherwise dispose (by operation of law or otherwise) of any part of its rights, title or interest in the Contract. The Contracting Party agrees to deliver copies of all notices of default, notices of the suspension of
performance by Contracting Party, notices of force majeure or requests for change orders delivered by Contracting Party to Borrower under or pursuant to the Contract to the Agent promptly upon delivery thereof. 
 (d) The Contracting Party will not terminate or suspend performance of the Contract on account of any default or breach of the Borrower thereunder without written notice
to the Agent and first providing to the Agent (i) 30 days from the date notice of default or breach is delivered to the Agent to cure such default if such default is the failure to pay amounts to the Contracting Party which are due and payable
under the Contract, or (ii) a reasonable period, but not fewer than 60 days, to cure such breach or default if the breach or default cannot be cured by the payment of money to the Contracting Party so long as the Agent, the Borrower or their
respective designee shall have commenced to cure the breach or default promptly following such notice and in any case within such 60-day period and thereafter diligently pursues such cure to completion (but in any event within not more than 120
days) and during such cure period performs all monetary obligations under the Contract and all other obligations under the Contract are performed by the Borrower or the Agent or their respective designees. For the avoidance of doubt and solely for
the purposes of the preceding sentence, amounts not paid and subject to a dispute in good faith by the Borrower shall not be deemed to be a payment default. The Contracting Party shall not hinder the Agent’s or its designees’ efforts, and
shall provide reasonable cooperation to the Agent and its designees, in effecting any cure of any default or breach of the Borrower under the Contract. Except in the event of a payment default under the Contract, if possession of the Project is
necessary to cure such breach or default, and the Agent or its designees or assignees declares the Borrower in default under the Credit Agreement and within the 60-day period described above commences foreclosure proceedings, the Agent or its
designees or assignees shall be allowed a reasonable period to complete such proceedings so long as (A) the Agent proceeds diligently and in good faith to do so and during such period performs all monetary obligations under the Contract, and
(B) all other obligations under the relevant Contract are performed by the Borrower or the Agent or their respective designees. If the Agent or its designees or assignees are prohibited by any court order or bankruptcy or insolvency proceedings
from curing the default or from commencing or prosecuting foreclosure proceedings, the foregoing time periods shall be extended by the 

  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
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period of such prohibition so long as (1) the Agent proceeds diligently and in good faith to address such impediments and during such period performs
all monetary obligations under the Contract, and (2) all other obligations under the Contract are performed by the Borrower or the Agent or their respective designees. The Contracting Party consents to the transfer of the Borrower’s
interest under each Contract to the Agent or any purchaser, successor, assignee and/or designee (a “Subsequent Transferee”) of the Assigned Interests at a foreclosure sale by judicial or nonjudicial foreclosure and sale or by a conveyance
by the Borrower in lieu of foreclosure and agrees that, notwithstanding any provision of the Contract to the contrary, upon such foreclosure, sale or conveyance, the Agent or such Subsequent Transferee shall be substituted for the Borrower under the
Contract and the Contracting Party (a) shall recognize the Agent or the Subsequent Transferee, as the case may be, as its counter-party under the Contract, and (b) perform its obligations under the Contract in favor of the Agent or the
Subsequent Transferee, as the case may be; provided that the Agent or such Subsequent Transferee (i) has elected to assume the rights and obligations of the Borrower (including the obligation to cure any then existing payment and performance
defaults, but excluding any obligation to cure any then existing performance defaults which by their nature are incapable of being cured and which default that is incapable of being cured does not materially and adversely affect the rights of the
Contracting Party under the Contract) under the Contract, and (ii) would reasonably be expected to have the capability to perform the Borrower’s obligations under the Contract. The above notwithstanding, regardless of any assignment
hereunder, Borrower shall remain fully liable to Contracting Party until all obligations under the Contract are satisfied. 
 (e) Subject to payment of all
amounts due and unpaid to the Contracting Party and cure of all then existing payment and performance defaults, but excluding any obligation to cure any then existing performance defaults which by their nature are incapable of being cured and which
default that is incapable of being cured does not materially and adversely affect the rights of the Contracting Party under the Contract, in the event the Contract is rejected or terminated by a trustee or debtor in possession in any bankruptcy or
insolvency proceeding, or if the Contract is terminated for any reason other than a default which could have been but was not cured by the Agent as provided in Section 1(e) hereof, and if, within 45 days after such rejection or termination, the
Agent shall so request, the Contracting Party shall execute and deliver to the Agent a new Contract having substantially identical terms to the Contract (subject to any conforming changes necessitated by the substitution of parties and such changes
as may be necessary to compensate the Contracting Party for schedule and cost adjustments resulting from the passage of time). 
 (f) In the event the Agent
or its designees or assignees elect to perform the Borrower’s obligations under a Contract or a new Contract is entered into as provided above in Sections 1(e) or (f), respectively, the liability of the Agent, or its designees or assignees, as
the case may be, to the Contracting Party for the performance of obligations under such Contract, and the sole recourse of the Contracting Party in seeking the enforcement of such obligations, shall be limited to such parties’ rights, title and
interest in the Project. 
 (g) Except as provided in Sections 1(e), (f) and (g) above, neither the Agent, its designees or assignees shall have
any obligation or liability under the Contract, nor shall the Agent, its designees or assignees be obligated to perform any of the obligations or duties of the Borrower under the Contract or to take any action or collect or enforce any claim for
payment or performance of the Assigned Interests. Within 30 or 60 days, as the case may be pursuant to Section 1(e), of being notified by the Contracting Party that a Borrower default or breach has occurred under the Contract, the Agent shall
notify the Contracting Party of its intent whether or not to cure any such Borrower default or breach. In the event the Agent fails to notify the Contracting Party within the time period described in the foregoing sentence that the Agent will cure
such default or breach, the Contracting Party shall be entitled to assume that the Agent has elected not to cure such default or breach and the Contracting Party may then exercise all rights 

  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 
that the Contracting Party would have under the Contract, without regard to the provisions of this Consent. In the absence of such notice, no performance by
the Agent, its designees or assignees under or pursuant to this Consent or otherwise (whether to cure a Borrower default or exercise rights under any provision hereof or otherwise) shall be construed as an assumption by the Agent, its designees or
assignees of the obligations and duties of the Borrower under the Contract, unless otherwise expressly agreed in writing by the Agent, its assignees or designees, as the case may be. The Agent shall have the right to assign all or a pro rata
interest in a Contract or a new Contract entered into pursuant to Section 1(f) to a person or entity to whom the Project is transferred, provided such transferee (i) assumes the obligations of the Borrower (or the Secured Parties) under
such Contract and cure of any material defaults under such Contract has been effected as provided herein, and (ii) would reasonably be expected to have the capability to perform the Borrower’s obligations under such Contract. Upon such
assignment, the Agent and the Secured Parties (including their agents and employees) shall be released from any further liability thereunder to the extent of the interest assigned. 
 2. Borrower’s Acknowledgment. The Borrower acknowledges and agrees that the Contracting Party is authorized to act in accordance with the Agent’s exercise of the Borrower’s rights in accordance with
this Consent, and the Contracting Party may rely on any notice or instruction by the Agent in the purported exercise of the Agent’s rights and remedies hereunder. 
 3. Legal Opinion. The Contracting Party hereby agrees to deliver to the Agent a legal opinion (which may be from a senior in-house counsel), dated as of the dated hereof, substantially in form attached hereto as
Addendum 1. 
 4. Payment of Monies. The Contracting Party hereby agrees to make all payments to be made by it to the Borrower under the Contract by wire
transfer directly to: 
  

	(a)	for all payments not covered by clause (b) hereof: 

 [                        ] 
 ABA
[                        ] 
 [                        ] 
 Account Number:
[                        ] 
 FFC: Account No. [                        ] 
 REF: [Hoku Materials] Revenue Account; or 
  

	(b)	for all payments of liquidated damages and insurance proceeds: 

 [                        ] 
 ABA
[                        ] 
 [                        ] 
 Account Number:
[                        ] 
 FFC: Account No. [                        ] 
 REF: [Hoku Materials] Loss Proceeds Account, 
 and any notices to [Depositary Bank] may be given to the following address: 
 [                        ] 
 [                        ] 
 [                        ] 
 [                        ] 
 Attn:
[                        ] 
 Telephone: [                        ] 
 Facsimile:
[                        ] 
  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 Notwithstanding the foregoing, (i) if the Agent shall notify the Contracting Party in writing that an Event of Default under the Credit Agreement has occurred and is continuing, the Contracting Party shall make all payments to be made
by it to the Borrower under the Contract directly to the Agent, for the benefit of the Secured Parties, to an account designated by the Agent in such written notice, and (ii) if any person has elected to become a Subsequent Transferee, then the
Contracting Party shall make all payments to be made by it to the Borrower under the Contract directly to such Subsequent Transferee. Any payments made by the Contracting Party as provided under this Section 4 shall be deemed to have been made
by the Contracting Party in fulfillment of the Contracting Party’s obligations under the Contract. 
 5. Representations and Warranties. The Contracting
Party hereby represents and warrants, for the benefit of the Agent and the Secured Parties, as of the date hereof, that: 
 (a) it (i) is duly
organized, validly existing and in good standing under the laws of [            ], and (ii) has all requisite organizational power and authority necessary to execute, deliver and
perform its obligations under this Consent and the Contract; 
 (b) the execution, delivery and performance by the Contracting Party of the Contract and this
Consent have been duly authorized by all necessary corporate action, and do not and will not require any further consents or approvals which have not been obtained, or violate any provision of any law, regulation, order, judgment, injunction or
similar matters or breach any agreement presently in effect with respect to or binding on the Contracting Party, except for such breaches, defaults, or violations as will not, either individually or in the aggregate, result in a material adverse
effect on the ability of the Contracting Party to perform its obligations under this Consent or the Contract; 
 (c) each of this Consent and the Contract
constitutes legal, valid and binding obligations of the Contracting Party, enforceable against the Contracting Party in accordance with their respective terms, except to the extent that enforceability may be limited by applicable bankruptcy,
insolvency, moratorium, reorganization or other similar laws affecting the enforcement of creditors’ rights or by the effect of general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or
at law); 
 (d) no authorizations, approvals or consents of any governmental or regulatory authority or agency or any other person, and no filings or
registrations with any governmental authority or agency, are necessary for the execution, delivery or performance by the Contracting Party of this Consent, or for the validity or enforceability thereof, except for any authorizations, approvals,
consents or filings which (i) have been made or obtained prior to the date hereof and are in full force and effect, or (ii) are obtainable in the ordinary course of business and are set forth on Addendum 2 to this Consent; 
 (e) except pursuant to this Consent and as expressly set forth in the Contract, the Contracting Party has not consented to any pledge, assignment or other transfer of
any interest in the Contract; 
 (f) the Contract is in full force and effect and has not been amended, supplemented or modified (except as otherwise
disclosed in writing to the Agent); and 
 (g) the Borrower has fulfilled all of its material obligations which are currently due under the Contract, and
there are no breaches or unsatisfied conditions presently existing (or which would exist after the passage of time and/or giving of notice) that would allow the Contracting Party to terminate the Contract. 
 6. Limitation of Liability. The Contracting Party shall have no liability under this Consent to the Borrower. With respect to any undertaking by the Contracting Party
which is susceptible to enforcement by specific enforcement as described in Section 7, where the Agent would receive the full benefit of this 

  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 
Consent through such specific performance, the Agent shall limit its remedy to specific performance. With respect to any other undertaking, acknowledgment,
representation and warranty or other provision of this Consent, the Agent’s remedies shall not be so limited, provided that the Agent and the Borrower agree that the Contracting Party’s aggregate liability for monetary damages under this
Consent and the Contract shall be limited as provided in the Contract. Under no circumstances shall the Contracting Party have any liability for any punitive, exemplary, consequential, indirect, incidental, or special damages (including by way of
example, but not by way of limitation, loss of profits, nonpayment of principal or interest on loans, and cost of capital under the Credit Agreement). 
 7.
Specific Performance. The Contracting Party acknowledges and agrees that the Borrower, the Agent, the Secured Parties and any Subsequent Transferee may be damaged irreparably in the event any of the provisions set forth in Sections 1 and 4 of this
Consent (the “Applicable Provisions”) are not performed in accordance with their specific terms or are otherwise breached. Accordingly, the Contracting Party agrees that the Borrower, the Agent and/or any Subsequent Transferee may seek to
enforce specifically this Consent and the Applicable Provisions in any action instituted in any court of the United States or any state thereof having jurisdiction over the parties hereto and the matter hereof (subject to the provisions set forth in
Section 9), in addition to any other remedy to which it may be entitled, at law or in equity. 
 8. Governing Law. This Consent shall be governed by,
and construed and interpreted in accordance with, the laws of the State of New York, United States of America, excluding its conflicts of law provisions (other than Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York).

 9. Submission to Jurisdiction. The parties hereto submit to the nonexclusive jurisdiction of the United States District Court for the Southern District of
New York and of any New York State court sitting in New York City for purposes of all legal proceedings arising out of or relating to this Consent or the transactions contemplated hereby. Each of the parties hereto irrevocably waives, to the fullest
extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient
forum. 
 10. Counterparts. This Consent and any amendments, waivers, consents or supplements hereto or in connection herewith may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages
may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. 
 11. Severability. In case any one or more of the provisions contained in this Consent should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
 12. Amendment, Waiver. Neither this Consent nor any of the terms hereof may be terminated, amended, supplemented, waived or
modified except by an instrument in writing signed by the Contracting Party, the Borrower and the Agent. 
 13. Notices. All notices required or permitted
hereunder shall be in writing and shall be effective (a) upon receipt if hand delivered, (b) upon receipt if sent by facsimile and (c) if otherwise delivered, upon the receipt thereof. Any such notices to the Contracting Party or the
Borrower shall be delivered to their respective addresses as specified in the Contract. Any such notices to the Agent shall be addressed as follows: 
  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 [                        ] 
 [                        ] 
 [                        ] 
 Attn: [                        ] 
 Telephone No.: [                        ] 
 Telecopy No.: [                        ]

 If any notice is tendered to an addressee and the delivery thereof is refused by such addressee, such notice shall be effective upon such tender. Any party
shall have the right to change its address for notice hereunder to any other location within the continental United States by providing 30 days’ notice to the other parties in the manner set forth hereinabove. 
 14. Third Party Beneficiaries. This Consent and the representations, covenants and agreements contained herein are and shall be held to be for the sole benefit of the
parties hereto and the Secured Parties, and their respective successors and assigns. 
 15. Interpretation. All references in this Consent to any document,
instrument or agreement (a) shall include all exhibits, schedules and other attachments thereto, and (b) shall include all documents, instruments or agreements issued or executed in replacement thereof in accordance with the terms thereof.

 [SIGNATURE PAGE FOLLOWS] 
  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 IN WITNESS WHEREOF, the parties hereto, by their officers duly authorized, intending to be legally bound, have caused this Consent and Agreement to be duly executed and delivered as of the date first above written. 
 HOKU MATERIALS, INC, 
 By: 
 Name: 
 Title: 
 [                            ] 
 By: 
 Name: 
 Title: 
 [                        ], 
 as Agent for the Secured Parties 
 By:

 Name: 
 Title: 
  

					
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IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 ADDENDUM 1 TO EXHIBIT E 
 FORM OF OPINION OF CONTRACTING PARTY’S
COUNSEL 
 [Letterhead of
                        ] 
 [Date] 
 [Agent] 
 [                        ] 
 [                        ] 
 [                        ] 
 Ladies and Gentlemen: 
 [We/I] have acted as counsel for
[                        ], a
[                        ] (the “Company”), in connection with that certain [Contract and Consent]
(collectively, the “Contracts”). Capitalized terms used and not otherwise defined herein shall have the respective meanings specified in the Consent. 
 This letter is being delivered to you in satisfaction of the condition set forth in Section 3 of the Consent. 
 In this connection, [we/I] have examined such certificates of public officials, certificates of officers of the Company and copies certified to [our/my] satisfaction of corporate documents and records of the Company and of other papers, and
have made such other investigations, as [we/I] have deemed relevant and necessary as a basis for [our/my] opinions hereinafter set forth. [We/I] have relied upon such certificates of public officials and of officers of the Company with respect to
the accuracy of material factual matters contained therein which were not independently established. 
 Based on the foregoing, it is [our/my] opinion that:

 1. The Company is a corporation duly incorporated and validly existing in good standing under the laws of
[                        ]. 
 2. The Contracts have been duly authorized by all requisite corporate action and duly executed and delivered by authorized officers of the Company, and are valid obligations of the Company, legally binding upon and
enforceable against the Company in accordance with their respective terms, except as such enforceability may be limited by (a) bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights
generally, and (b) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
 3. The execution and delivery of the Contracts, and fulfillment of and compliance with the respective provisions of the Contracts, do not conflict with, or result in a breach of the terms, conditions or provisions of, or constitute a
default under, or result in any violation of, or result in the creation of any lien upon any of the properties or assets of the Company pursuant to, or require any authorization, consent, approval, exemption, or other action by or notice to or
filing with any court, administrative or governmental body or other person or entity pursuant to, the charter or by-laws of the Company, any applicable law, statute, rule or regulation or (insofar as is known to us after having made due inquiry with
respect thereto) any agreement, instrument, order, judgment or decree to which the Company is a party or otherwise subject. 
 Very truly yours, 
  

					
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OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 EXECUTION COPY 
  
 ADDENDUM 2 TO EXHIBIT E 
 AUTHORIZATIONS AND APPROVALS

 [Contracting Party to provide, if any] 
  

					
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 Page 75 of 75Engineering, Procurement and Construction Management Agreement

	
	 Execution Copy
  
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 EXHIBIT 10.53 
 ENGINEERING, PROCUREMENT & CONSTRUCTION 
 MANAGEMENT AGREEMENT 
 This Engineering,
Procurement & Construction Management Agreement (this “Agreement”), is dated as of August 7, 2007, and is entered into by and between HOKU MATERIALS, INC., a Delaware corporation (hereinafter referred to as
“Owner”) and STONE & WEBSTER, INC. (hereinafter referred to as “Contractor”). Contractor and Owner are referred to herein as a “Party” and together as the “Parties.”

 RECITALS 
 WHEREAS,
Owner is building a 2000 Metric Ton/Year Polysilicon Plant to be located in Pocatello, Idaho (hereinafter referred to as the “Project”); and 
 WHEREAS, Owner intends to hire Contractor to perform certain engineering, procurement, and construction management services for the Project as hereinafter set forth; and 
 WHEREAS, Contractor desires to perform such services for Owner; 
 NOW,
THEREFORE, pursuant to the terms and conditions and the mutual consideration set forth herein, Owner and Contractor agree as follows. 
 AGREEMENT 
 ARTICLE 1. DEFINITIONS. 
 Capitalized terms used in this Agreement and not otherwise defined, are defined in this ARTICLE 1. 
 1.1. AGREEMENT. The term
“Agreement” means this Engineering, Procurement and Construction Management Agreement, together with all schedules, exhibits and appendices hereto, as such may be amended or amended and restated from time to time. 

1.2. APPLICATION FOR PAYMENT. The term “Application for Payment” is defined in Article 10.1.1 of this Agreement. 

1.3. CONTRACT PRICE. The “Contract Price” is defined in Article 7 of this Agreement. 
 1.4. CONTRACT TIME SCHEDULE. The “Contract Time Schedule” is defined in Article 6.1 of this Agreement. 
 1.5. CONTRACT TIMES. The number of Days or the dates stated in the Agreement (i) to achieve Substantial Completion, and (ii) to complete the
Work so that it is ready for final payment in accordance with ARTICLE 10 of this Agreement. 
 1.6. CONSTRUCTION MANAGEMENT. As Owner’s
representative and an integral member of the project team during all phases of the project, that portion of Contractor’s Work related to planning, coordinating, monitoring, status assessment and reporting on construction progress, schedule and
budget. 
  

					
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 Page 1 of 90 

	
	 Execution Copy
  
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DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 1.7. DAY. The term
“Day” shall mean a calendar day unless otherwise specifically designated. 
 1.8. ENGINEERING SERVICES. That portion
of Contractor’s Work relating to the preparation of Drawings, Specifications, and other design documents specified in the Contract Documents and required to be performed by licensed design professionals. 
 1.9. HAZARDOUS SUBSTANCE. The term “Hazardous Substance” means any and all chemicals, constituents, contaminants, pollutants, materials, and
wastes and any other carcinogenic, corrosive, ignitable, radioactive, reactive, toxic or otherwise hazardous substances or mixtures (whether solids, liquids, gases), or any substances now or at any time subject to regulation, control, remediation or
otherwise addressed as a hazardous substance under applicable laws, including those laws, regulations and policies relating to the discharge, emission, spill, release, or threatened release into the environment or relating to the disposal,
distribution, manufacture, processing, storage, transport, treatment, or other use of such substances. 
 1.10. MILESTONE. A principal event
specified in the Contract Documents relating to an intermediate completion date or time prior to Substantial Completion of all the Work. 
 1.11. OWNER AND CONTRACTOR. Contractor is an independent contractor and, except for the procurement of engineered equipment necessary for the Project and its Construction Management Services, is not an agent of Owner. This Agreement shall
not be construed as establishing an employment agreement, a partnership, a general agency, or a joint venture, and neither party shall have any authority to incur or commit for expenditures on behalf of the other party or to obligate that party
except as expressly authorized by that party in writing. 
 1.12. PRELIMINARY DOCUMENTS. The term “Preliminary
Documents” is defined in Article 3.2.1 of this Agreement. 
 1.13. PROJECT. The “Project” is defined in
the recitals to this Agreement, and includes total construction, which may include construction by other contractors of Owner and/or Owners own forces and Contractor’s Work. 
 1.14. SITE. Lands or other areas designated in the Contract Documents as being furnished by Owner for the performance of construction, storage, lay down,
or access. 
 1.15. SUBCONTRACTOR. The term “Subcontractor” shall mean a person or entity who has a direct contract
with Contractor to perform a portion of the Work. Subcontractor shall include an authorized representative of the Subcontractor. The term Subcontractor does not include any separate contractor employed by Owner. 
 1.16. SUB-SUBCONTRACTOR. A Sub-subcontractor is a person or entity who has an agreement with a Subcontractor to perform any portion of the
Subcontractor’s work. 
 1.17. SUBSTANTIAL COMPLETION. The time at which the Work (or a specified part) has progressed to the point
where it is sufficiently complete, in accordance with the Contract Documents, so that the Project (or a specified part) can be utilized for the purposes for which it is intended. The terms “substantially complete” and “substantially
completed” as applied to all or part of the Project refer to Substantial Completion thereof. 
  

					
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THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 1.18. TARGET PRICE.
The term “Target Price” is defined on Addendum 1 to Exhibit D of this Agreement. 
 1.19. TECHNICAL SPECIFICATIONS.
Means all equipment, process and related specifications concerning the engineering, construction, integration into the Project, and operation of such equipment or processes as such may be provided by Contractor, one or more Subcontractors, Owner or
a contractor or subcontractor that is hired by Owner. 
 1.20. TIC (Total Installed Cost). The term “TIC” is defined
in Addendum 1 to Exhibit D of the Agreement. 
 1.21. WORK. The term “Work” shall mean engineering, procurement and
construction management services of the Project to be performed by Contractor under this Agreement and includes all services, labor, and tests provided or to be provided to fulfill Contractor’s obligations under this Agreement, as described on
Exhibit A attached hereto. 
 ARTICLE 2. THE CONTRACT DOCUMENTS 
 2.1. CONTRACT DOCUMENTS. The Contract Documents comprise the entire Agreement between Owner and Contractor. The Contract Documents are as follows: 
 2.1.1. AGREEMENT. This Engineering, Procurement and Construction Management Agreement; 
 2.1.2. DOCUMENTS RELATING TO CONTRACTOR’S SCOPE OF WORK, including, without limitation, Exhibit A attached to this
Agreement, and all schedules and appendices attached thereto; 
 2.1.3. DRAWINGS AND SPECIFICATIONS. The Drawings and
Specifications prepared by Contractor and approved by Owner as listed on Exhibit A, including all schedules and appendices attached thereto, together with all additions and revisions thereto; and 
 2.1.4. MODIFICATIONS. A modification is (1) an amendment to this Agreement signed by both Parties and Agent as outlined in
Exhibit E attached hereto, (2) a Change Order as outlined in Section 8 of this Agreement, or (3) a written order for a minor change in the Work issued by Owner. 
 2.2. INTENT OF CONTRACT DOCUMENTS. The Contract Documents are intended to describe a functionally complete Project to be designed and constructed in
accord with the Contract Documents. Any work, services, materials, or equipment that may reasonably be inferred from prevailing custom or trade usage as being required to complete the Work in accord with the Contract Documents will be furnished and
performed whether or not specifically called for. When words or phrases which have a well-known technical, construction industry, or trade meaning are used to describe work, materials, or equipment, such words or phrases shall be interpreted in
accord with that meaning. 
 2.3. CONTRACT DOCUMENTS ARE COMPLEMENTARY. The Contract Documents are complementary; what is called for by one
is as binding as if called for by all. In the event of a discrepancy in the Contract Documents, the order of precedence shall be as outlined in 2.4 below. 
  

					
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THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 2.4. PRECEDENCE OF
CONTRACT DOCUMENTS. The precedence of the Contract Documents for interpretation shall be in the following sequences: 
 1.
This Agreement and any amendments thereto; 
 2. DOCUMENTS RELATING TO CONTRACTOR’S SCOPE OF WORK, wherein precedence
shall be large scale plans, over small scale, figured dimensions over scaled dimensions and noted materials over graphic indications. 
 3. Modifications pursuant to Article 2.1.4 above. 
 2.5. MODIFICATION OF CONTRACT DOCUMENTS. Except where
specifically provided by the Contract Documents, and except in the case of Change Orders, the Contract Documents may be amended, altered, or changed only by written agreement signed by both Owner and Contractor. 
 ARTICLE 3. CONTRACTOR’S RESPONSIBILITIES. 
 3.1. GENERAL
SERVICES OF CONTRACTOR 
 3.1.1. CONTRACTOR SHALL COMPLETE THE WORK. Contractor shall complete or cause to be completed all of
the Work in accord with the Contract Documents. Except as otherwise specified herein, Contractor shall cause the Work to be performed in accord with all federal, state and local laws, and regulations that are applicable and in effect as of the date
of this Agreement. 
 3.1.2. PERSONNEL AND MATERIALS. 
 3.1.2.1. ADEQUATE PERSONNEL. Contractor shall furnish necessary and qualified engineers, architects, technicians, draftsmen, supervisors,
labor, equipment, tools, materials, supplies, and incidentals to perform the Work in accord with the Contract Documents. Contractor shall be responsible for proper staffing of the Work to be performed under this Agreement. 
 3.1.2.2. RESPONSIBILITY FOR PERSONNEL. Contractor shall be fully responsible to Owner for all acts and omissions of Subcontractors and
other personnel hired or retained by Contractor to perform or furnish any of the Work required by the Contract Documents. Contractor, however, shall not be responsible for any acts or omissions of personnel hired or retained by Owner in connection
with the Project. Nothing in the Contract Documents shall create for the benefit of any personnel hired or retained by Owner any contractual relationship with Contractor nor shall it create any obligation on the part of Contractor to make payment to
personnel hired by or retained by Owner. 
 3.1.2.3. RESPONSIBILITY FOR SCHEDULING. Contractor shall be responsible for
scheduling and coordinating Subcontractors and other personnel retained or hired by Contractor to perform the Work or any portion thereof. Contractor shall require Subcontractors and other personnel hired or retained by Contractor to perform or
furnish any of the Work to communicate with Owner only through Contractor. 
 3.1.3. SUBCONTRACTS. Contractor shall assure
that all Subcontractors who are engaged or retained by Contractor to perform Work on the Project do so under the terms of an appropriate subcontract which is consistent with the applicable provisions of this Agreement and which binds the
Subcontractor to the applicable terms and conditions of the Contract Documents. 
  

					
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FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 3.1.4.
CONTRACTOR’S REPRESENTATIVE. Contractor shall designate a representative. The name of Contractor’s representative shall be given to Owner in writing. Owner shall be notified of any change in Contractor’s representative in writing.
Contractor hereby names Mel Barnett as its Contractor’s representative. 
 3.1.5. COMPLIANCE. Contractor shall pay
all payroll taxes, including taxes of any kind assessed against, deducted, or deductible from wages or salaries and shall comply with all applicable federal, state and local laws, ordinances, orders, rules and regulations including but not limited
to, those relating to equal employment opportunity and affirmative action for disabled veterans, veterans of the Vietnam Era, handicapped persons and all other legally protected classes, the Americans with Disabilities Act, the Fair Labor Standards
Act as amended, Title VII of the Civil Rights Act of 1964, and the Occupational Safety and Health Act. 
 3.1.6. PERMITS.
Unless otherwise provided in the Contract Documents, Contractor shall assist Owner for all construction and operational permits and licenses, including those relating to environmental issues and those related to Owner’s process, which are
necessary for the prosecution of the Work. Owner is responsible for governmental charges and inspection fees necessary for the prosecution of the Work. 
 3.1.7. LAWS AND REGULATIONS. Contractor shall give all notices and comply with all laws and regulations which are applicable to furnishing and performance of the Work. Changes in laws or regulations not known or
foreseeable on the date of this Agreement which have an effect on the cost or the time of performance of the Work may be the subject of a request for a Change Order under ARTICLE 8. 
 3.1.8. TAXES. Except for sales and use taxes required to be paid by Owner, Contractor shall pay all sales, consumer, use, gross receipts,
and other similar taxes required to be paid by Contractor in accord with the laws and regulations of the place of the Project which are applicable during the performance of the Work. Contractor shall also provide Owner reasonable assistance to
establish tax exemptions where applicable. 
 3.1.9. SAFETY. Contractor shall take necessary precautions for the safety of its
employees on the Work and shall comply with all applicable provisions of federal, state, and municipal safety laws to prevent accidents or injury to person on, about, or adjacent to the Project Site. Contractor shall implement a Site safety program
based upon the policies and procedures outlined in Contractor’s Corporate Safety Manual, a copy of which will be provided to Owner upon request. Contractor shall erect or shall cause to be erected and maintained, as required by the conditions
and progress of the Work, necessary safeguards for the protection of its employees. It is understood and agreed, however, that Contractor shall have no responsibility for the elimination or abatement of safety hazards created or otherwise resulting
from work at the Site carried on by other persons or firms directly employed by Owner as separate contractors or by Owner’s tenants, and Owner agrees to cause any such separate contractors and tenants to abide by and fully adhere to all
applicable provisions of federal, state, and municipal laws and regulations and to comply with all reasonable requests and directions of Contractor for the elimination or abatement of any such safety hazards at the job site. 
 3.1.10. MAINTENANCE OF BOOKS AND RECORDS. As to any time and material work, Contractor’s books and records shall include time cards
and other records relating to the time of Contractor personnel spent on the Work and any expenditures made by Contractor for which Contractor will request reimbursement from Owner hereunder. 
  

					
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THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 3.2. RESPONSIBILITIES
WITH RESPECT TO ENGINEERING. Contractor is responsible for the general plant design and integration of the designs of other contractors of Owner into the overall Project. 
 3.2.1. DRAWINGS AND SPECIFICATIONS. Contractor shall prepare Drawings and Specifications based on Owner-approved preliminary documents
attached hereto as Schedule 1 to Exhibit A (the “Preliminary Documents”). The Drawings and Specifications shall set forth the requirements for the construction of the Work in sufficient detail to
enable Owner and its contractors to construct the Project. Drawings and Specifications shall ordinarily be submitted to Owner for its written approval. Owner shall approve or reject such Drawings and Specifications within 7 days of receipt from
Contractor. 
 3.2.2. STANDARD OF CARE. The standard of care for all design services performed or furnished by Contractor
under this Agreement will be the care and skill ordinarily used by members of the architectural and engineering profession practicing under similar conditions in the same locality. In the event that design services furnished by Contractor do not
meet the foregoing standard of care, Contractor will re-perform such services at no cost to Owner, provided, however, that Owner notifies Contractor, in writing, of such design deficiency within a period of one year from the date of Substantial
Completion of the Work or any separable portion of the Work containing a design deficiency. 
 3.2.3. NO WARRANTY FOR
PERFORMANCE BY OTHERS. Contractor does not warrant any process, or the designs connected therewith, or any design services to be furnished by others, including but not limited to processes and designs furnished by Owner and any contractors retained
by Owner. Additionally, Contractor does not warrant any materials or equipment purchased as Agent of Owner. Owner shall compensate Contractor for remedying or making changes in the Work or portions thereof requested by Owner which result from
deficiencies or changes in such processes and designs by others. 
 3.2.4. BREACH OF DUTY OF CARE – ENGINEERING. In any
event, Contractor’s liability under Article 3.2.2, shall be limited to the obligation to re-perform, at its sole cost and expense, any negligently designed portion of the Work. Contractor shall not incur any other responsibility or liability
whatsoever to Owner, for losses or damages of any nature whatsoever arising out of or in connection with Article 3.2.2 of this Agreement and not expressly assumed hereunder. 
 3.3. RESPONSIBILITIES WITH RESPECT TO PROCUREMENT. 
 3.3.1. CONTRACTOR’S RESPONSIBILITIES. Acting as agent of Owner, Contractor shall procure engineered equipment necessary for the construction of the Project. Such procurement services shall include expediting of
procured long lead equipment items. All procurement services shall be performed in accordance with the procurement plan attached hereto as Appendix 1 to Exhibit A (the “Procurement Plan”).
Notwithstanding anything to the contrary in this Agreement or the Procurement Plan, Contractor shall obtain Owner’s prior written authorization prior to making each purchasing commitment as Owner’s agent. 
  

					
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THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 3.3.2.
STANDARD OF CARE. The standard of care for all procurement services performed or furnished by Contractor under this Agreement will be the care and skill ordinarily used by members of the engineering profession practicing under similar conditions in
the same locality. In the event that procurement services furnished by Contractor do not meet the foregoing standard of care, Contractor will re-perform such procurement services at no cost to Owner, provided, however, that Owner notifies
Contractor, in writing, of such deficiency within a period of one year from the date of Substantial Completion of the Work or any separable portion of the Work containing a deficiency. In no event does Contractor provide any warranty to Owner on
such material or equipment except that Contractor shall ensure that all such warranties provided by the vendors are in the name of, or assigned to, Owner. 
 3.4. RESPONSIBILITIES WITH RESPECT TO CONSTRUCTION MANAGEMENT. 
 3.4.1. CONTRACTOR’S
RESPONSIBILITIES. Acting as agent of Owner, Contractor shall provide Construction Management Services to Owner. 
 3.4.2.
STANDARD OF CARE. The standard of care for all construction management services performed or furnished by Contractor under this Agreement will be the care and skill ordinarily used by members of the architectural and engineering profession
practicing under similar conditions in the same locality. In the event that construction management services furnished by Contractor do not meet the foregoing standard of care, Contractor will re-perform such services at no cost to Owner, provided,
however, that Owner notifies Contractor, in writing, of such deficiency within a period of one year from the date of Substantial Completion of the Work or any separable portion of the Work containing a deficiency. 
 3.4.3. INITIAL START-UP. With the assistance of Owner’s personnel, Contractor shall direct the checkout of utilities and operation of
systems and equipment for readiness and shall assist in their initial start-up and testing review. 
 ARTICLE 4. OWNER’S RESPONSIBILITIES 
 4.1. PROJECT INFORMATION. If reasonably required and applicable to the Project and the Work, Owner shall provide Contractor with the following:

 4.1.1. ENVIRONMENTAL ASSESSMENT. Environmental assessment and impact statements; 
 4.1.2. SURVEYS. Property, boundary, easement, right-of-way, topographic, and utility surveys; 
 4.1.3. LAND USE RESTRICTIONS. Zoning, deed, and other land use restrictions; 
 4.1.4. SUBSURFACE INVESTIGATIONS. Subsurface investigations performed by or on behalf of Owner relating to the Site; 
 4.1.5. ENGINEERING SURVEYS. Engineering surveys to establish reference points for design and construction which in Contractor’s
judgment are necessary to enable Contractor to proceed with the Work; 
  

					
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THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 4.1.6.
OWNER SUPPLIED DELIVERABLES: 
 4.1.6.1. [*]: Owner shall use commercially reasonable efforts to provide native format
PFD’s, P&ID’s, drawings, data sheets and other work product prepared on behalf of Owner by Owner’s other contractors for the Project. 
 4.1.6.2. [*]: Owner shall provide the documentation and equipment for the [*], which are necessary for the completion of the Work. 
 Owner deliverables under this Section 4.1.6.2 shall include: 
  

	 	1.	PFDs for equipment 

  

	 	2.	P&IDs 

  

	 	3.	Rated consumption of specifications of utilities and materials 

  

	 	4.	Equipment table 

  

	 	5.	Equipment layout 

  

	 	6.	Foundation load chart (device load, including net weight, operation weight, maintenance weight and civil engineering conditions drawing) 

  

	 	7.	Anchor bolt chart 

  

	 	8.	Material supply data sheet or curve at different period of time, as reference values 

  

	 	9.	Installation, operation, and maintenance manuals 

  

	 	10.	Pipe layout plan 

  

	 	11.	Pipe materials grade table for reactor 

  

	 	12.	Heat insulation table of equipment and pipe 

  

	 	13.	Layout plan of connecting points 

  

	 	14.	General drawing of equipment 

  

	 	15.	Detail drawing of the whole equipment set 

  

	 	16.	Orientation diagram of equipment orifices 

  

	 	17.	Drawings for special spare parts 

 4.1.6.3.
[*]: Owner shall provide the system design documentation per [*] that is necessary for the completion of the Work. 
 Owner deliverables
under this Section 4.1.6.3 shall include: 
  

	 	1.	Process flow diagram 

  

	 	2.	P&ID 

  

	 	3.	Compressor specification 

  

	 	4.	Refrigeration specification 

  

	 	5.	Vessel layout drawings 

  

	 	6.	Utilities summary 

  

	 	7.	Piping specifications 

  

	 	8.	Single line diagram for electrical users 

  

	 	9.	Pump data sheets 

  

	 	10.	Heat exchanger data sheets 

  

	 	11.	Heat exchanger layout drawings 

  

	 	12.	Plot plan 

  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  

	 	13.	Automatic valve data sheets 

  

	 	14.	Pressure relief valve calculations 

  

	 	15.	Pressure relief valve data sheets 

  

	 	16.	Valve summary 

  

	 	17.	Instrument summary 

  

	 	18.	Instrument data sheets 

  

	 	19.	Insulation specification 

  

	 	20.	Electrical schematics 

  

	 	21.	Sequence chart 

  

	 	22.	Operating instructions 

  

	 	23.	I/O List with set points 

 4.1.6.4. TCS
Production and Purification: Owner shall provide the following documentation regarding the TCS production and purification processes as soon as practicable so as not to delay the Project Schedule. 
  

	 	1.	Material balance (simulated) 

  

	 	2.	Heat Balance (simulated) 

  

	 	3.	Impurity tracking levels (simulated) 

  

	 	4.	Process flow diagrams keyed to the Stream Catalog (simulated) 

  

	 	5.	Stream Catalog(simulated) 

  

	 	6.	Operating conditions: pressure, temperature, duty cycle, physical properties 

  

	 	7.	Equipment list: very rough sizes, materials of construction 

  

	 	8.	Equipment details for the fluidized bed and the columns used to supply the solar grade TCS 

  

	 	9.	Sizing and suggested ports 

 4.1.7.
ASSISTANCE WITH APPROVALS. Assistance in filing documents required to obtain necessary approvals of governmental authorities having jurisdiction over the Project; 
 4.1.8. INFORMATION CONCERNING HAZARDS. Information known to or in the possession of Owner relating to the presence of hazardous materials
and substances at the Site; 
 4.1.9. AVAILABILITY OF LANDS. The lands upon which the construction is to be performed,
rights-of-way and easements for access thereto and, upon written request of Contractor, a statement of record legal title and a legal description of such lands. Owner shall identify any encumbrances or restrictions which specifically relate to the
use of such lands so furnished with which Contractor will have to comply in performing the Work. Easements for permanent structures or permanent changes in existing facilities will be obtained and paid for by Owner. 
 4.2. OWNER REVIEW. Owner shall give thorough and timely consideration to all sketches, plans, drawings, specifications, proposals, contracts, and other
documents submitted by Contractor and shall inform Contractor promptly of its approval and/or comments. Such review period of Owner shall not exceed 7 days. Upon Owner’s request, Contractor shall immediately, and in any case, no later than 3
business days after receipt of such request, provide Owner with copies of all existing, supporting documents, and all Contract Documents (as defined in Article 2.1 above, whether in draft, partial or complete form), all procurement documentation,
all subcontracts, and all time sheets and documents related to fees and payments. 
  

					
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FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 4.3. PROFESSIONAL
SERVICES. Owner shall furnish such legal, accounting, and insurance counseling services as Owner may require. 
 4.4. OWNER’S
REPRESENTATIVE. Owner shall, in writing, designate a person to act as Owner’s representative with respect to the services Contractor is to perform under this Agreement. Such person shall have complete authority from Owner to transmit
instructions, receive information, and to interpret and define Owner’s policies and decisions with respect to such services. In addition, at Owner’s cost, Owner may hire one or more third party engineers to review, oversee and audit
Contractor’s work pursuant to this Agreement. However, it is understood by both Parties that Contractor is under no obligation to follow any instruction or directive of such Owner’s third party representatives and Owner shall indemnify and
hold harmless Contractor from any liabilities which may result from such Owner’s third party representatives. Contractor hereby agrees that it shall cooperate with such third party engineer who is designated in writing by Owner, and, at
Owner’s request, Contractor shall provide such third party with all information and documentation that Owner is entitled to receive pursuant to this Agreement, including, without limitation, all Contract Documents (as defined in Article 2.1
above), all procurement documentation, all subcontracts, and all time sheets and documents related to fees and payments. Contractor acknowledges and agrees that Owner’s third party consultant may be an engineering, procurement and construction
firm that is a competitor of Contractor; provided, however, that Contractor may require such third party to sign a commercially reasonable confidentiality agreement prior to disclosing Contractor’s confidential information that is included in
such information and documents. 
 4.5. HAZARDOUS SUBSTANCES. Owner shall remove, transport and dispose of any Hazardous Substance, or shall
cause the removal, transportation, and disposal of any such Hazardous Substance, (other than Hazardous Substances transported and released on Site by Contractor or created, used, or handled as part of Contractor’s Work at the Site) discovered
or released at the Site. 
 4.6. PAYMENTS TO CONTRACTOR. Owner shall make payments to Contractor promptly when they are due as provided in
this Agreement. 
 4.7. NOTICE OF FAULTS OR DEFECTS. If Owner becomes aware of any fault or defect in the Project or non-conformance with the
Contract Documents, Owner shall give prompt written notice thereof to Contractor. 
 4.8. OWNER-FURNISHED EQUIPMENT AND MATERIALS. Owner will
assure that any equipment or materials to be furnished by Owner for the Project is furnished in accord with the Project schedule prepared by Contractor. 
 4.9. PROMPTNESS; RELIANCE. The services and information required by the above paragraphs shall be furnished with reasonable promptness at Owner’s expense. In performing services under this Agreement, Contractor
shall be entitled to rely on all information provided by Owner hereunder. Contractor shall not be responsible or liable in any manner for any defect or deficiency in the information supplied or for defects or deficiencies in Contractor’s
performance or services to the extent they result from Contractor’s reliance on such information. 
  

					
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FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 4.10. REVIEW OF
DRAWINGS AND SPECIFICATIONS. Owner shall promptly review with Contractor that are submitted to Owner in accord with Article 3.2.1 and indicate thereon that such drawings are “APPROVED FOR CONSTRUCTION” prior to their release for
construction. 
 4.11. NON-WAIVER. Any approvals by Owner of the Work, the design documents or any changes, alterations, revisions or
modifications thereto as required or allowed by this Agreement, or otherwise, at any time, shall not waive, release or diminish Contractor’s professional responsibilities hereunder. 
 4.12. CO-LOCATION. At Owner’s option, Owner may co-locate Owner’s Representative with Contractor’s Representative, and if such location is
at Contractor’s place of business, then Contractor shall provide Owner’s Representative, at no charge, with reasonable access to an office, cubicle, conference room, or similarly suitable work space at Contractor’s place of business
during Contractor’s normal business hours. 
 ARTICLE 5. SUBCONTRACTS. 
 5.1. SUBCONTRACTED WORK. All portions of the Work that Contractor does not perform with its own forces shall be performed under subcontracts. 
 5.2. RESPONSIBILITY FOR SUBCONTRACTORS. Owner reserves the right to obtain contractual relationships directly with any subcontractor. When requested by
Owner, Contractor shall be responsible for the management of Owner’s subcontractors in the performance of their work. Owner shall communicate with subcontractors through Contractor. However, Contractor shall not be responsible for any
liabilities which results from such subcontractors and Owner agrees to defend and indemnify Contractor from any liabilities claimed by such Owner subcontractors/vendors. 
 ARTICLE 6. TIMING OF WORK. 
 6.1. CONTRACT TIME SCHEDULE. Contractor shall put forth a good faith effort to
ensure that the Work will be prosecuted by Contractor in accord with the schedule set forth in Exhibit B hereto (the “Contract Time Schedule”) and upon progress schedules mutually agreed upon with Owner.

 6.2. DATE OF SUBSTANTIAL COMPLETION. The date or dates for the Preliminary Reactor Test Demonstration (as defined on Exhibit
B), Mechanical Completion (as defined on Exhibit B), and Substantial Completion of the Work or a designated portion thereof are set forth in Exhibit B. 
 6.3. DELAYS. If Contractor is unable to meet the Contract Time Schedule due to any actual delay in the progress of the Work that is caused by:
(1) any act or omission of Owner or by any separate contractor employed by Owner, (2) changes ordered in the Project; (3) any act of force majeure including, but not limited to, strikes, fire, or any event beyond the control of
Contractor; (4) adverse weather conditions not reasonably anticipatable; or (5) by a delay authorized by Owner, then Contractor shall be entitled to a Change Order extending the applicable Milestone date and/or increasing the TIC and
Target Price for the period of time and for such increase in the TIC and Target Price as are directly caused by any of the foregoing circumstances of such delay; provided, however, that Contractor shall use commercially reasonable efforts to
mitigate any delay caused by the foregoing circumstances; and, provided, further that the Contract Time Schedule shall not be extended, and the TIC and Target Price shall not be increased to the extent that the acts or omissions of Contractor
directly contributed to such 

  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 
delay. If the Work is delayed due to the fault of Contractor such that Contractor does not achieve the Preliminary Reactor Test Demonstration, Mechanical
Completion or Substantial Completion on or before the applicable date set forth in the Contract Time Schedule, then the Contract Time Schedule shall not be adjusted, the TIC and Target Price shall not be increased, and Contractor shall pay Owner
liquidated damages (LD’s) in the amount of [*] per day of delay in achieving the applicable milestone. Such LD’s owed by Contractor to Owner shall be limited to one million dollars ($1,000,000) in the aggregate. Such liquidated damages
shall be Owner’s sole remedy against Contractor for Contractor’s failure to achieve any applicable milestone and Contractor shall not otherwise be liable for any direct, indirect, incidental, consequential or other damages which may be
suffered or incurred by Owner or others resulting from any interruption or delay in start-up or use of, or production from, any of Owner’s existing facilities or those to be designed and constructed hereunder. 
 6.4. ACCEPTANCE OF WORK. When the Work shall have achieved Substantial Completion, Owner and Contractor shall make a joint inspection thereof and shall
prepare and sign a list of items of Work remaining to be completed. 
 6.5. INSTALLED EQUIPMENT. 
 6.5.1. JOINT INSPECTION. When each item of equipment is installed and is ready for start-up, Owner and Contractor shall make a joint
inspection of such equipment. Upon satisfactory demonstration that each such item has been properly installed, Owner and Contractor shall furnish a signed acceptance thereof and release of responsible party. 
 ARTICLE 7. CONTRACT PRICE. 
 7.1. TIME & MATERIALS.
Owner agrees to pay Contractor for the satisfactory performance of the Work on a fully reimbursable basis for the rates, costs, expenses, fees, and other consideration set forth in Exhibit D, attached hereto, as modified and
supplemented by Addendum 1 to Exhibit D, (the “Contract Price”) in accordance with the payment procedures described in ARTICLE 10 below. 
 ARTICLE 8. CHANGES IN THE WORK. 
 8.1. OWNER MAY REQUEST
CHANGES. Owner, without invalidating this Agreement, may order changes in the Work within the general scope of this Agreement consisting of additions, deletions, or other revisions. If substantive changes are ordered, the TIC, Target Price, and the
Contract Time Schedule shall be adjusted accordingly. All such changes in the Work shall be authorized by Change Order. 
 8.2. CHANGE ORDER.
A Change Order is a written order signed by Owner or its authorized agent and by Contractor or its authorized agent which is issued after the execution of this Agreement and which may constitute a change in the Work and\or an adjustment in the TIC,
Target Price, and/or the Contract Time Schedule. 
 8.3. EMERGENCIES. In any emergency affecting the safety of persons or property,
Contractor shall act, at its discretion, to prevent threatened damage, injury, or loss. Any increase in the TIC, Target Price, or extension of the Contract Time Schedule claimed by Contractor on account of emergency work shall be determined as
provided in this Article. 
  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 8.4. OBLIGATION TO
PROCEED. In the event any Change Order requested herein requires approval of the Agent as defined in Exhibit E, Contractor shall be under no obligation to commence Work under any Change Order hereunder until such Change Order has been
approved by Agent as defined in Exhibit E. 
 ARTICLE 9. UNCOVERING AND CORRECTION OF WORK. 
 9.1. CORRECTION OF WORK. 
 9.1.1. WORK REJECTED BY OWNER. Contractor shall promptly correct Work rejected by Owner which fails to conform to the requirements of the Contract Documents, whether observed before or after Substantial Completion and whether or not
fabricated, installed, or completed. 
 9.1.2. AFTER FINAL COMPLETION. If, within one year after the date of Substantial
Completion of the Work or a designated portion thereof, or any longer period prescribed by any special guarantee required by the Contract Documents, any of the Work is found to be not in accord with the requirements of the Contract Documents,
Contractor shall cause the Work to be corrected promptly after receipt of written notice from Owner to do so unless Owner has previously given Contractor a written acceptance of such condition. This obligation under this paragraph shall survive
acceptance of and payment for the Work under this Agreement. The obligation under this paragraph shall also survive termination of this Agreement for cause. Owner shall give such notice promptly after discovery of the condition. 
 9.1.3. FAILURE TO CORRECT NON-CONFORMING WORK. If Contractor fails to correct non-conforming Work within a reasonable time, Owner may
correct it in accord with Article 12.2.1. 
 ARTICLE 10. PAYMENTS TO CONTRACTOR. 
 10.1. PAYMENT PROCEDURE. Payments shall be made by Owner to Contractor such that Contractor is kept cash and commitment neutral/positive according to the
following procedure: 
 10.1.1. SUBMITTAL BY CONTRACTOR. Once each month, Contractor shall submit to Owner an application for
payment (the “Application for Payment”). The period covered by each Application for Payment shall be one calendar month ending on the last day of the month or as otherwise mutually agreed to accommodate Contractor’s cost
system as it is understood that Contractor’s labor costs are accumulated such that a pay period must end on a Sunday. Contractor will provide with each Application for Payment a projection estimate for the anticipated costs of the Work during
the upcoming month. This projected estimate of costs plus the Contractor’s Fee of [*] on all estimated costs, less the retainage stipulated in Section 10.1.1.1, shall serve as the basis of Contractor’s payment for that month. Within
thirty (30) days after the end of each month during which any Work is performed, Contractor shall provide the Owner a summary of the costs, as defined by Exhibit D to this Agreement, incurred during such period accompanied by the supporting
documentation for such reimbursable costs as required herein. Contractor will then prepare, contemporaneous with the next month’s Application for Payment, a monthly reconciliation of the reimbursable costs that compares the advance funding
received from the Owner against the actual summary of costs for the applicable period. Should the reconciliation show a deficiency in funding, the then current monthly Application for Payment will include the amount necessary to fully reimburse
Contractor for any such deficiency plus the any proportionate Fee deficiency. 
  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 If the reconciliation shows an excess
funding, the excess will be deducted from the then current monthly Application for Payment. Invoices paid and reconciled are not considered to be accepted by the Owner and Owner shall retain its right to audit Contractor’s costs and
Applications for Payment. 
 Reimbursements of the Cost of the Work shall not be construed as Owner’s approval or acceptance of the Work. If disputed
charges are identified at the time of original invoicing or during an audit of invoiced charges, payment for the disputed items may be withheld subject to resolution and subject to the interest provisions of Section 10.1.4. A resolution of
disputed charges will be attempted through negotiation between the Party representatives identified in Article 15.9, which negotiation shall occur within 15 calendar days of the Contractor’s receipt of the notice of any disputed charges. If the
Party representatives are unable to resolve the dispute, either Party may submit the dispute for resolution in accordance with Article 13. 
 Provided that an Application for Payment is received by the Owner not later than the 1st day of a month, the Owner shall make payment to the Contractor not later than the 15th
day of the same month. If an Application for Payment is received by the Owner after the application date fixed above, payment shall be made by the Owner not later than fifteen (15) days after the date it receives the Application for Payment.

 With each Application for Payment, the Contractor shall submit partial release of liens, payroll information documenting actual hours worked
with applicable rates, petty cash accounts, receipted invoices or invoices with check vouchers attached and any other evidence reasonably required by the Owner to support Contractor’s previous Applications for Payment and to demonstrate the
cash disbursements already made by the Contractor on account of the cost of the Work. 
 Applications for Payment shall show the Cost of the Work that
Contractor estimates that it will expend or incur through the end of the period covered by the Application for Payment and for which the Contractor has made or intends to make actual payment prior to the next Application for Payment plus the
Contractor’s Fee of [*] on all such estimated costs, less the retainage stipulated in Section 10.1.1.1. 
 The amount of retainage with respect to
progress payments, which will be reflected on the Application for Payment, will be: 
 10.1.1.1. [*] retainage on permits,
fees, soil tests, construction testing, dumpsters, and miscellaneous direct third party costs; 
 10.1.1.2. [*] retainage on
the Work until Substantial Completion. The Owner shall release and pay Contractor all amounts retained from the Applications for Payment within thirty (30) days of Contractor’s achievement of Substantial Completion. 
 10.1.2. FAILURE TO MAKE PAYMENT. If Owner should fail to pay Contractor at the time the payment of any amount becomes due, Contractor may,
at its option, upon giving written notice that it will stop Work within ten (10) days after receipt of the notice by Owner, and after such ten (10) day period, stop the Work until payment of the amount owing has been received. 

10.1.3. INTEREST. Payments due but unpaid shall bear interest at a rate equal to the [*] per month until paid. 
  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 10.2. EVIDENCE OF
PAYMENT. Before issuance of Final Payment, Owner may request satisfactory evidence that all payrolls, materials bills, and other indebtedness connected with the Work have been paid or otherwise satisfied. 
 10.3. REGULAR REPORTS. Notwithstanding the invoicing procedures, Contractor shall provide Owner with a weekly report of all hours worked; provided,
however, that Owner shall have the right to audit all expense records and time tracking sheets on a daily basis. 
 ARTICLE 11. INDEMNITY, INSURANCE AND
WAIVER OF SUBROGATION 
 11.1. INDEMNITY. 
 11.1.1. INDEMNITY BY PARTIES. Contractor shall indemnify and hold Owner, Owner’s affiliates, officers, directors, employees, and the heirs, executors, administrators and successors of each of them harmless from
and against any and all claims, suits, demands, liabilities, losses, damages, costs, and expenses (“Claims”) Owner may suffer or pay out as a consequence of the negligent acts, errors, or omissions of Contractor, its agents, employees or
Subcontractors in the performance of this Agreement provided that such Claims are attributable to bodily injury, sickness, disease or death, or to injury to the or the destruction of tangible property (other than the Work itself). Owner shall
indemnify and hold Contractor, Contractor’s affiliates, officers, directors, employees, and the heirs, executors, administrators and successors of each of them harmless from and against any and all claims, suits, demands, liabilities, losses,
damages, costs, and expenses (“Claims”) Contractor may suffer or pay out as a consequence of the negligent, acts, errors or omissions of Owner, its agents, employees or contractors (other than Contractor) provided that such Claims are
attributable to bodily injury, sickness, disease or death, or to injury to the or the destruction of tangible property (other than the Work itself). The foregoing indemnities shall not include damages sustained by either party for incidental or
consequential damages including, but not limited to, losses of income, profits, or production or damages sustained by either party on account of closure or shut-down of one or more of its facilities, but shall include reasonable costs and
attorneys’ fees incurred by the party indemnified in defending itself against a claim as to which the other party owes a duty of indemnification. Each indemnitor shall be entitled to (a) prompt written notice of the occurrence that gives
rise to a claim for indemnification hereunder, and (b) an opportunity to defend the claim, suit, or demand through counsel of its choosing. Indemnitor shall have the right to control the defense and to be the sole judge of the acceptability of
any compromise or settlement. 
 11.1.2. INDEMNITY BY OTHERS. If, after the date of this Agreement, Owner enters into or
amends any contract between Owner and any other contractor for the performance of work in the areas where Contractor’s Work will be performed under this Agreement, Owner shall cause such contractor to agree to indemnify Owner and Contractor and
hold them harmless from all claims for bodily injury and property damage (other than property insured under Article 11.6.1) that may arise from that contractor’s operations. Such provisions shall be in a form satisfactory to Contractor. With
respect to any similar contract between Owner and any other contractor entered into before the date of this Agreement, Owner shall use reasonable efforts to cause any such contract to be amended to provide the aforementioned indemnity to Owner and
Contractor. 
 11.1.3. APPLICATION OF INDEMNITIES. Owner and Contractor intend that the indemnity obligations set forth in
Articles 11.1.1 and 11.1.2 above shall apply even if a claim or loss arises in whole or in part from the negligence, strict liability, statutory liability, or other wrongful act or omission of the indemnified party. In such event the indemnifying
party’s obligation shall be reduced in proportion to the indemnified party’s contributing negligence or fault. 
  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 11.1.4. PATENT INFRINGEMENT. Owner agrees to indemnify and hold harmless Contractor for any liabilities which result from any patent or copyright infringement for any Work performed by Contractor where such infringement claim is based on
documentary information provided by Owner or Owner’s contractors to Contractor for incorporation into the Project. Contractor agrees to indemnify and hold harmless Owner for any liabilities which result from any patent or copyright infringement
related to the Work performed by Contractor where such infringement claim is based on the acts of Contractor or any of its Subcontractors. 
 11.2. CONTRACTOR’S LIABILITY INSURANCE. Contractor shall purchase and maintain such insurance as will protect it from the claims set forth below which may arise out of or result from Contractor’s performance and furnishing of the
Work under this Agreement whether such operations be by Contractor or by any Subcontractor or by anyone directly or indirectly employed by any of them, or by anyone for whose acts any of them may be liable. Except for workers’ compensation,
employer’s liability, and professional liability, such policies shall name Owner as an additional insured, but only to the extent of Contractor’s Indemnity obligations as set forth in this Article 11. 
 11.2.1. WORKMEN’S COMPENSATION. Claims under workers’ compensation, disability benefit, and other similar employee benefit acts
which are applicable to the Work to be performed. 
 11.2.2. CLAIMS FOR EMPLOYEE INJURY. Claims for damages because of bodily
injury, occupational sickness or disease, or death of Contractor’s employees under any applicable employer’s liability law. 
 11.2.3. CLAIMS FOR INJURY TO OTHERS. Claims for damages because of bodily injury or death of any person other than Contractor’s employees. 
 11.2.4. OTHER CLAIMS. Claims for damages insured by customary personal injury liability coverage which are sustained (1) by any
person as a result of an offense directly or indirectly related to the employment of such person by Contractor or (2) by any other person. 
 11.2.5. DAMAGE TO PROPERTY. Claims for damages, other than to the Work itself, because of injury to or destruction of tangible property, including loss of use therefrom. 
 11.2.6. OPERATION OF MOTOR VEHICLE. Claims for damages because of bodily injury or death of any person or property damage arising out of
the ownership, maintenance or use of any motor vehicle. 
 11.2.7. CONTRACTUAL LIABILITY. Claims arising out of the indemnity
obligation assumed by Contractor under Article 11.1 of this Agreement. 
 11.2.8. PROFESSIONAL LIABILITY. Claims for
professional negligence arising out of architectural and engineering services rendered by Contractor. 
  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 11.3. INSURANCE
LIMITS. Contractor’s Comprehensive General Liability, Workers’ Compensation, Automobile Liability insurance, and Professional Liability Insurance, as required by Article 11.2, shall be written for the limits of liability or amounts of
coverage set forth in the Schedule of Insurance attached hereto as Exhibit C. Contractor insurance may be arranged under a single policy for the full limits required or by a combination of underlying policies with the balance provided
by Excess or Umbrella Liability policies. 
 11.4. CANCELLATION OF INSURANCE. The foregoing policies shall contain a provision that the
coverages afforded under the policies will not be canceled, that renewal will not be refused, and that the amount of coverage will not be reduced below the limits specified in Exhibit C until at least thirty (30) days prior
written notice has been given to Owner. A Certificate of Insurance showing such coverages to be in force shall be filed with Owner prior to commencement of the Work. 
 11.5. OWNER’S LIABILITY INSURANCE. Owner shall be responsible for purchasing and maintaining at its expense its own liability insurance and, at its option, may purchase and maintain such insurance as will protect
it against claims which may arise from operations under this Agreement. 
 11.6. INSURANCE TO PROTECT THE PROJECT. 
 11.6.1. PROPERTY INSURANCE. Owner shall purchase and maintain property insurance in a form acceptable to Contractor upon the entire
Project for the full cost of replacement at the time of any loss. This insurance shall be on a “course of construction/builder’s risk” policy form and shall insure against loss from the perils of Fire and Extended Coverage physical
loss or damage including, without duplication of coverage, at least theft, vandalism, malicious mischief, transit, off-site storage, collapse, flood, earthquake, testing, and damage resulting from defective design, workmanship, or material. Owner
will increase the limits of coverage, if necessary, to reflect estimated replacement cost. Owner will be responsible for any co-insurance penalties or losses falling within the deductible limits of any policies. 
 11.6.2. OFF-SITE MATERIALS OR EQUIPMENT. Owner (or Contractor upon written request of Owner and on Owner’s behalf and at Owner’s
expense) shall purchase and maintain property insurance in a form acceptable to Contractor to cover materials and equipment stored at the Site or at another location prior to being incorporated into the Work, provided that such materials or
equipment have been included in an Application for Payment submitted to and approved by Owner. 
 11.6.3. OTHER PROPERTY
INSURANCE. If during the Project construction period Owner insures properties, real or personal or both, adjoining, adjacent to, on, or in the Site by property insurance under policies separate from those insuring the Project, or if after Final
Payment property insurance is to be provided on the completed Project through a policy or policies other than those insuring the Project during construction, Owner and its insurers shall waive all rights in accordance with the terms of Article 11.9
for damages caused by fire or other perils covered by this separate property insurance. All separate policies shall provide this waiver of subrogation by endorsement or otherwise. 
 11.6.4. INSURANCE UPON OCCUPANCY. If Owner finds it necessary to occupy or use a portion or portions of the Project prior to Substantial
Completion thereof, such occupancy shall not commence prior to a time mutually agreed to by Owner and Contractor and to which the insurance company or companies providing the property insurance have consented by endorsement to any applicable policy
or otherwise. Consent of Contractor and of the insurance company or companies to such occupancy or use shall not be unreasonably withheld. Owner shall take no action with respect to partial occupancy or use that would cause cancellation, lapse or
reduction of applicable insurance. 
  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 11.6.5. BOILER AND MACHINERY INSURANCE. Owner (or Contractor upon written request of Owner and on Owner’s behalf and at Owner’s expense) shall purchase and maintain such boiler and machinery insurance as may be required or
necessary. This insurance shall include the interests of Owner, Contractor, and Subcontractors in the Work and Owner and Contractor shall be named insureds under such insurance. 
 11.6.6. LOSS OF USE OF PROPERTY. Owner (or Contractor upon written request of Owner and on Owner’s behalf and at Owner’s
expense) shall purchase and maintain such insurance as will protect Owner and Contractor against loss of use of Owner’s property due to those perils insured pursuant to Article 11.6.1. Such policy will provide coverage for expenses of
expediting materials, continuing overhead of Owner and Contractor, necessary labor expense including overtime, loss of income by Owner, and other determined exposures. Exposures of Owner and Contractor shall be determined by mutual agreement and
separate limits of coverage fixed for each item. Owner and its insurers waives all rights of actions against Contractor for loss of use of Owner’s property including consequential losses due to the perils insured pursuant to Article 11.6.1.

 11.7. OWNER’S POLICIES-CERTIFICATE OF INSURANCE. Owner shall furnish Contractor a Certificate of Insurance as to all policies
provided by Owner pursuant to this Agreement immediately following execution of this Agreement and before an exposure to loss may occur. Contractor will be given thirty (30) days notice of cancellation, non-renewal, or any endorsements
restricting or reducing coverage. If Owner does not intend to purchase the insurance specified in Article 11.6, it shall inform Contractor in writing prior to the commencement of the Work. Contractor may then effect insurance which will protect the
interest of Contractor and the Subcontractors, and the Contract Price, Target Price and TIC shall be increased by Change Order. If Contractor is damaged by failure of Owner to purchase or maintain such insurance or to so notify Contractor, Owner
shall bear all reasonable costs properly attributable thereto. 
 11.8. PROPERTY INSURANCE LOSS ADJUSTMENT. 
 11.8.1. PAYMENT OF AN INSURED LOSS. Any insured loss shall be adjusted with Owner and Contractor and made payable to Owner and Contractor
as trustees for the insureds, as their interests may appear, subject to any applicable mortgage clause. 
 11.8.2.
DISTRIBUTION OF MONIES. Upon the occurrence of an insured loss, monies received will be deposited in a separate account and the trustees shall make distribution in accord with the agreement of the parties in interest. In the absence of such
agreement, any dispute between the parties as to the distribution of the monies received shall be determined in accord with the provisions of ARTICLE 13. 
 11.9. WAIVER OF RIGHTS. 
 11.9.1. WAIVER FOR PERILS COVERED BY INSURANCE. Owner and
Contractor and their insurers waive all rights against each other and Subcontractors for damages caused by perils covered by insurance provided under this Article 11.6, except such rights as they may have to the proceeds of such insurance held by
Owner and Contractor as trustees. Contractor shall require similar waivers from all Subcontractors and their insurers in favor of Owner and Contractor. 
  

					
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SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 11.9.2. WAIVER FOR DAMAGE TO EQUIPMENT. Owner and Contractor and their insurers waive all rights against each other and Subcontractors for loss or damage to any equipment used in connection with the Project which loss is covered by any
property insurance. Contractor shall require similar waivers from all Subcontractors and their insurers in favor of Owner and Contractor. 
 11.9.3. WAIVER OF SUBROGATION BY CONTRACTOR’S INSURERS. Contractor shall obtain a waiver of subrogation consistent with this Article 11.9 by endorsement or otherwise from any insurer who issues any policy of
insurance required of Contractor pursuant to the provisions of Article 11.6 above. Provided, however, Contractor shall not be required to obtain a waiver of subrogation under its professional liability policy required by Article 11.2.8 above.
Contractor will obtain similar waivers of rights and waivers of subrogation interests from its Subcontractors and their insurers in favor of Contractor and Owner. 
 11.9.4. WAIVER OF SUBROGATION BY OWNER’S INSURERS. Owner shall obtain a waiver of subrogation consistent with this Article 11.9 by
endorsement or otherwise, from any insurer who issues any policy of insurance required pursuant to the provisions of Article 11.6 above. Owner will obtain a waiver of subrogation in favor of Contractor and Subcontractors on property and
consequential loss policies purchased for the Project after its completion. Owner will obtain similar waivers of rights and waivers of subrogation interests from its separate contractors or consultants and their insurers in favor of Contractor and
Subcontractors. 
 11.9.5. EFFECT OF ENDORSEMENTS. If the policies of insurance referred to in this ARTICLE 11 require an
endorsement to provide for continued coverage where there is a waiver of subrogation, Owner and Contractor will cause them to be endorsed. 
 ARTICLE 12.
SUSPENSION OR TERMINATION OF THE AGREEMENT. 
 12.1. TERMINATION BY CONTRACTOR. If the Project is suspended or stopped for a period of more
than thirty (90) days by Owner or under an order of any court or other public authority having jurisdiction, or as a result of any act of government, such as a declaration of a national emergency making materials unavailable, through no act or
fault of Contractor, or if Owner fails for a period of ninety (90) days to pay Contractor any amount properly due under this Agreement, then Contractor may, upon seven days’ written notice to Owner and provided Owner does not remedy such
suspension, stoppage, or failure within that time, terminate this Agreement and recover from Owner payment for all Work executed by Contractor together with any loss sustained by Contractor (whether expense, damage, or profits) as a result of such
suspension, stoppage, or failure. 
 12.2. OWNER’S RIGHT TO PERFORM CONTRACTOR’S OBLIGATIONS AND TERMINATION BY OWNER FOR CAUSE.

 12.2.1. CONTRACTOR’S FAILURE TO PERFORM. If Contractor fails to perform any of its obligations under this Agreement,
Owner may, after seven days’ written notice during which period Contractor fails to initiate the performance of such obligation, make good such deficiencies. The TIC shall not be increased as a result of Owner making good such deficiencies.

  

					
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SECURITIES
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 12.2.2. INSOLVENCY OF CONTRACTOR. If Contractor is adjudged a bankrupt, or if it makes a general assignment for the benefit of its creditors, or if a receiver is appointed on account of its insolvency, or if it persistently or repeatedly
refuses or fails, except in cases for which an extension of time is provided, to supply enough properly skilled workmen or proper materials, or if it fails to make proper payment to Subcontractors or for materials or labor, or persistently
disregards laws, ordinances, rules, regulations or orders of any public authority having jurisdiction, or otherwise is guilty of a substantial violation of this Agreement, then Owner may, without prejudice to any right or remedy and after giving
Contractor and its surety, if any, seven (7) days written notice, during which period Contractor fails to cure the violation, terminate the employment of Contractor and take possession of the Site and of all materials and equipment to be used
in the project and may finish the Work by whatever reasonable method it may deem expedient. In such case, Contractor shall be entitled to payment for Work satisfactorily completed up to the date of termination. 
 12.3. TERMINATION BY OWNER FOR CONVENIENCE. Upon seven days written notice to Contractor, Owner may, without cause and without prejudice to any other
right or remedy of Owner, elect to terminate the Agreement. In such case, Contractor shall be paid for: 
 12.3.1. COMPLETED
AND ACCEPTED WORK. Completed and accepted Work executed in accord with the Contract Documents prior to the effective date of termination at the rates outlined in Exhibit D; 
 12.3.2. EXPENSES. Reasonable expenses sustained prior to the effective date of termination in performing services and furnishing labor,
materials, or equipment as required by the Contract Documents in connection with uncompleted Work at the rates outlined in Exhibit D; 
 12.3.3. SETTLEMENTS. Amounts paid in settlement of terminated contracts with Subcontractors and others (including but not limited to all fees and charges of engineers, architects, attorneys, and other professionals
and all court or arbitration or other dispute resolution costs incurred in connection with termination of contracts with Subcontractors, and others); and 
 12.3.4. TERMINATION EXPENSES. Reasonable expenses incurred by Contractor directly attributable to termination. 
 12.4. RELEASE OF CONTRACT DOCUMENTS. If Owner terminates pursuant to Article 12.2 or 12.3, Contractor, upon receipt of final payment to Contractor from Owner, shall immediately deliver to Owner all Contract Documents (as defined in Article
2.1 above), all Designs and Specifications, all procurement documentation, all subcontracts and all other documents and records related to the Work. 
 12.5. SUSPENSION OF THE WORK. At any time and without cause, Owner may suspend the Work or any portion thereof for a period of not more than 90 days by notice in writing to Contractor which will fix the date on which
Work will be resumed. Contractor shall resume the Work on the date so fixed. Contractor shall be allowed an adjustment in the TIC, Target Price or an extension of the Contract Time Schedule, or both, directly attributable to any such suspension if
Contractor makes a claim therefor as provided in ARTICLE 8. 
  

					
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DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 ARTICLE 13. DISPUTE RESOLUTION.

 13.1. DISPUTE RESOLUTION. If any controversy or claim arises out of or relates to this Agreement, or breach thereof, the parties agree to
the following procedure: 
 13.1.1. DIRECT NEGOTIATION. The parties shall initially attempt to resolve the dispute by direct
negotiation in an amicable manner. 
 13.1.2. MEDIATION. If the parties fail to reach agreement by direct negotiation within
(60) days from the commencement of negotiation, the parties will submit the dispute to non-binding mediation under the Construction Industry Mediation Rules of the American Arbitration Association. The mediation shall be held in the county and
state where the Project is located, unless otherwise agreed to by the parties in writing. 
 13.1.3. ARBITRATION. If the
parties cannot settle the dispute by non-binding mediation within 60 days from the commencement of mediation, the dispute shall be settled by arbitration in accordance with the Construction Industry Arbitration Rules of the American Arbitration
Association then in effect unless the parties mutually agree otherwise. In any such arbitration proceeding, either party may join any third party who participated in the Project who is or may be necessary to resolution of the dispute. Such
arbitration proceeding shall be held in the county and state where the Project is located, unless otherwise agreed to by the parties in writing. 
 13.1.4. DEMAND FOR ARBITRATION. Notice of the demand for arbitration shall be filed in writing with the other party to this Agreement and with the American Arbitration Association within 60 days after the parties fail
to reach agreement by non-binding mediation. 
 13.1.5. DISCOVERY BEFORE ARBITRATION. Prior to any arbitration hearing,
discovery shall be limited to: interrogatories; requests for production of documents; exchange of written reports prepared by expert witnesses retained by any party to the proceeding; depositions of such expert witnesses; and depositions of no more
than ten (10) witnesses by each party, unless otherwise agreed to by the parties in writing. The parties shall be entitled to take such discovery from third parties as agreed to or as ordered or approved by the arbitrator(s). 
 13.1.6. JUDGMENT. Judgment upon the award rendered by the arbitrators shall be final and may be entered in any court having lawful
jurisdiction thereof. 
 13.1.7. PERFORMANCE PENDING RESOLUTION OF DISPUTE. Unless otherwise agreed in writing, Contractor
shall continue its services and maintain its progress during any dispute resolution proceedings, and Owner shall continue to make payments to Contractor in accord with this Agreement. 
 ARTICLE 14. ASSIGNMENT AND GOVERNING LAW. 
 14.1. ASSIGNMENT OF AGREEMENT. Neither Owner nor Contractor shall
assign its interest in this Agreement without the written consent of the other party, which such assignment shall not be unreasonably withheld, except as to the assignment of proceeds. In the event of any assignment of this Agreement, including an
assignment by operation of law, this Agreement shall be binding on the assigning Party’s successors and assigns. 
  

					
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DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 14.2. CHOICE OF LAW.
This Agreement shall be governed by the laws of the State of Idaho. 
 ARTICLE 15. MISCELLANEOUS PROVISIONS. 
 15.1. EXTENT OF AGREEMENT. This Agreement shall become effective on the date first set forth above (the “Effective Date”) Upon the
effective date, this Agreement shall represent the entire agreement between Owner and Contractor relating to the Project and shall supersede all prior negotiations, representations, or agreements. This Agreement may be amended only by written
instrument signed by both Owner and Contractor. 
 15.2. INFORMATION AND DOCUMENTS. 
 15.2.1. PROPRIETARY INFORMATION. All information disclosed to Contractor by Owner or acquired by Contractor solely in connection with the
performance of the Work shall be held in confidence by Contractor and shall not be disclosed to third parties (other than Subcontractors or Sub-subcontractors) without Owner’s prior written consent unless Contractor can show to Owner’s
satisfaction that said information (a) is generally known to the public without breach hereof, (b) was known to Contractor or in its possession prior to disclosure by Owner, (c) was disclosed to Contractor, after disclosure by Owner,
by a third party having the unrestricted legal rights to disclose the same, or (d) is required by law to be disclosed. 
 15.2.2. OWNERSHIP OF DOCUMENTS. All documents prepared by Contractor, including but not limited to sketches, drawings, plans, specifications, models, calculations, computer software, and electronic media are instruments of service for the
Project and are the property of Owner. The use of any documents prepared or furnished by Contractor for any purpose other than as set forth in this Agreement or modifications to such documents by anyone other then Contractor shall be at Owner’s
sole risk and without liability or legal exposure to Contractor. Owner shall indemnify and hold harmless Contractor from all claims, damages, losses and expenses, including attorneys’ fees, arising out of or resulting from such other use or
modification. Contractor reserves the right to retain reproducible media of all documents. 
 15.2.3. DOCUMENTS UPON
TERMINATION. Upon notice of termination of this Agreement, Contractor shall clearly describe in writing to Owner all documents produced under this Agreement which then exist and the location of each. Subject to the provisions of Article 15.2.2
above, Contractor shall promptly comply with any directions from Owner regarding the disposition of the materials for which directions are delivered to Contractor by Owner within sixty (60) days after notice of termination. 
 15.2.4. PATENT RIGHTS. With regard to any patent rights granted and assigned to Owner under this Agreement, Contractor agrees to cooperate
with Owner in keeping complete and accurate records pertaining thereto and in the prosecution of patents. 
 15.3. ELECTRONIC MEDIA.

 15.3.1. Electronic media, including magnetic and optical disks and magnetic tapes, submitted by Contractor to Owner under
this Agreement are intended to operate on a system of hardware and software identical to that utilized by Contractor to produce such media. Contractor makes no warranty or representation as to the capability of such media to operate on any other
system of hardware 

  

					
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DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 
or software. Owner acknowledges that, with the passage of time, the system on which the electronic media was produced may be changed and updated and agrees
that Contractor is under no obligation to maintain electronic media for this Project to operate on these systems. 
 15.3.2.
Owner acknowledges that: 
  

	 	1.	the information stored by Contractor on electronic media is subject to deterioration with time; 

  

	 	2.	electronic media, after delivery by Contractor, may be subjected to unintentional physical abuse; 

  

	 	3.	electronic media, after delivery by Contractor, may be changed by others without authorization by Contractor. 

 Owner agrees that Contractor shall not be responsible for the effects of the above. 
 15.3.3. Owner is responsible for the accuracy of any information it furnishes to Contractor on electronic media for use under this
Agreement. If such information is found to be unusable as a result of data format, media deterioration or software incompatibility, Contractor shall be compensated for costs incurred to make the information usable. 
 15.3.4. Contractor shall not be required to produce electronic media to Owner’s specifications unless Owner’s specifications are
made available to Contractor for review and comment prior to execution of this Agreement and such specifications are specifically identified herein and made a part of this Agreement. Owner’s specifications pertaining to electronic media which
are applicable to Contractor’s services under this Agreement and which are incorporated as part of this Agreement include the following: NONE. 
 15.3.5. Neither party shall be responsible to the other for the effects of computer viruses transmitted through the exchange of electronic media. 
 15.4. ENVIRONMENTAL MATTERS. Contractor agrees that all products furnished or Work performed shall be in compliance with all applicable federal, state
and local laws and regulations respecting the environment, including, but not limited to, the Clean Air Act, the Toxic Substance Control Act, the Safe Drinking Water Act, the Comprehensive Environmental Response, Compensation and the Liability Act,
the Superfund Amendments and Reauthorization Act, the Environmental Planning and Community Right-To-Know Act, the Oil Pollution Act of 1990, the Clean Air Act Amendments of 1990, the Migratory Bird Treaty Act, the Endangered Species Act, and the
Resource Conservation and Recovery Act. The handling of any solid or hazardous waste subject to the Resource Conservation and Recovery Act shall be in compliance with EPA Regulations at Parts 260 through 265, and Parts 122 through 125 of Title 40,
Code of Federal Regulations, and any other applicable regulation under the Resource Conservation and Recovery Act. Contractor agrees at all times in performance of the Work hereunder, to abide by all the federal, state, and local laws listed above
as said laws or regulations may be amended from time-to-time subsequent to the Effective Date of this Agreement and all other laws, orders, rules and regulations, prescribed by any governmental body having jurisdiction. 
 15.5. EXCLUSION OF WARRANTIES AND DAMAGES. Contractor makes no warranty or guarantee of any kind in connection with performance of the Work under this
Agreement other than those 

  

					
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DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 
expressly provided for under this Agreement. ALL IMPLIED WARRANTIES INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE,
ARE EXCLUDED. UNDER NO CIRCUMSTANCES SHALL CONTRACTOR BE LIABLE TO OWNER OR ANY THIRD PARTY FOR ANY SPECIAL, COLLATERAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY TYPE. NOTWITHSTANDING ANY PROVISION TO THE CONTRARY, IN NO EVENT SHALL
CONTRACTOR’S AGGREGATE LIABILITY TO OWNER ARISING OUT OF CONTRACTOR’S OBLIGATIONS UNDER THIS AGREEMENT, FOR ANY REASON, INCLUDING THE NEGLIGENCE OF CONTRACTOR, EXCEED THE SUM OF ONE MILLION DOLLARS ($1,000,000) PLUS ANY PROCEEDS RECEIVED
FROM CONTRACTOR’S INSURANCE COVERAGE PURSUANT TO ARTICLE 11 ABOVE. 
 15.6. WAIVER. The failure of either party to enforce any of the
provisions of this Agreement at any time, or from time to time, shall not operate as a waiver with respect to future actions. 
 15.7. EFFECT
OF AGREEMENT. The rights and obligations of the parties under this Agreement shall be binding upon and shall inure to the benefit of the parties, their successors and assigns. 
 15.8. FINANCING. Contractor acknowledges that Owner will be financing the Project, through a combination of debt, equity and prepayments from
Owner’s customers. In connection with any debt financing, the lenders and the collateral agent may request Contractor to execute consents and provide a legal opinion. As such, Contractor agrees that on or prior to the date of financial closing
on Owner’s senior credit agreement providing for the financing of the Project, Contractor shall (and hereby agrees to) enter into a consent and agreement for the benefit of the collateral agent and secured parties substantially identical to the
form of consent and agreement attached as Exhibit E hereto (the “Consent”), and Contractor shall (and hereby agrees, and instructs its counsel, to) provide an opinion of legal counsel substantially in the form
and scope of the form of legal opinion attached to the Consent as Exhibit A. Unless the Consent or Legal Opinion are substantially different than Exhibit E, Contractor’s refusal to sign the Consent or provide the Legal Opinion for any reason
shall constitute a material breach of this Agreement entitling Owner to immediately terminate the Agreement. 
 15.9. NOTICES. All notices,
requests, demands, and other communications under this Agreement shall be deemed to have been duly given if delivered in person or if mailed in the United States mail, certified mail, return receipt requested, and properly addressed as follows:

 If to Owner, to: 
 HOKU
MATERIALS, INC. 
 Attn: Karl Taft 
 One Hoku Way 
 Pocatello, Idaho 83201 
 Tel: 808-682-7800 
 Fax: 808-682-7807 
  

					
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DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE
SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED.

  
 With a copy to:

 HOKU SCIENTIFIC, INC. 
 Attn:
Dustin Shindo 
 1075 Opakapaka Street 
 Kapolei, Hawaii 96707 
 Fax: (808) 682-7807 
 Tel: (808) 682-7800 
 If to Contractor, to: 
 STONE & WEBSTER, INC. 
 Attn :
Mel Barnett 
 One Main Street 
 Cambridge, MA 02142 
 Fax: [*] 
 Tel: [*] 
 With a copy to: 
 STONE & WEBSTER, INC. 
 Attn: Mike Rich 
 1430 Enclave Parkway 
 Houston, TX 77077 
 Fax: [*] 
 Tel: [*] 
 If mailed, any such notice, request, demand, or other communication is effective on the date shown on the return receipt. From time to time either party may designate
another person or address for all purposes of the Agreement by giving to the other party not less than fifteen (15) days’ advance written notice of such change of person or address in accord with the provisions hereof. 
 15.10. LIMITATION ON SOLICITING EMPLOYEES. Each Party agrees that, during the period commencing on the date of this Agreement and ending on the first
anniversary of the expiration or earlier termination of this Agreement, if any Party (including any subsidiary of that Party) hires an employee of the other Party (including any affiliate of that Party), the hiring Party shall pay the other Party a
recruiting fee in the amount of $30,000. 
  

					
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 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
above written. 
  

									
	“CONTRACTOR”	 		 	“OWNER”
			
	STONE & WEBSTER. INC.	 		 	HOKU MATERIALS. INC.
					
	By:	 	/s/ Lou J. Pucher	 		 	By:	 	/s/ Dustin Shindo
	Name:	 	Lou J. Pucher	 		 	Name:	 	Dustin Shindo
	Title:	 	President, E&C Division	 		 	Title:	 	CEO

 SIGNATURE PAGE TO ENGINEERING,
PROCUREMENT & CONSTRUCTION MANAGEMENT AGREEMENT 
  

 (Page 26 of 90) 

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BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 EXHIBIT A 
 CONTRACTOR’S SCOPE OF
WORK 
 This Scope of Work further defines the Work to be performed by CONTRACTOR pursuant to the Engineering, Procurement and
Construction Management Agreement dated as of August 7, 2007, between HOKU MATERIALS, INC. and STONE & WEBSTER, INC. (the “Agreement”). Capitalized terms not otherwise defined herein are defined in the
Agreement. 
 CONTRACTOR’s Procurement services shall be performed pursuant to the Procurement Plan which is attached hereto as Appendix 1 to
this Exhibit A. 
 CONTRACTOR shall provide the engineering, procurement and construction management services to complete the Project Objective, which
shall be based on the description below and the Preliminary Drawings attached hereto as Schedule 1 to this Exhibit A. 
 Project
Objective: 
 Produce 2,000 metric tons (MT) annually of solar grade purity polycrystalline silicon for sale to the solar cell industry. 
 General Process Description: 
 Polysilicon is produced by a batch
process where trichlorosilane (TCS) gas and hydrogen are combined in a number of reactors at approximately 2,000° F and the solid silicon released from the reaction is deposited onto a silicon filament inside the reactor. 
 Production of polysilicon can be separated into several processing functions as follows: 
 Feed Preparation and Purification: 
 [*] 
 Polysilicon Production: 
 [*]

 [*] 
 Polysilicon Product
Handling: 
 [*] 
 Polysilicon Support Areas: 
 [*] 
  

					
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 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 27 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 In furtherance of the foregoing,
CONTRACTOR shall perform the following tasks: 
 Scopes of work and deliverables for the Intermediate Design, Detail Design, and Construction Phases as
defined below shall be finalized as the preceding phases are completed and approved by OWNER. In general, the deliverables of the Intermediate Design and/or Detail Design Phases shall include the following: 
 1. Intermediate Design Phase (Commercial Terms: Time and Material (T&M); Estimated Fees: [*]); - During this stage, scope details, process simulation and P&ID
shall be framed to a point adequate for accurate HAZOP Analysis. The P&ID shall be frozen following incorporation of the HAZOP Analysis findings. Major equipment and piping shall be sized and specified and longer lead-time items shall be
purchased as agreed to by OWNER. CONTRACTOR agrees to take responsibility for specification and procurement of piping, pumps, columns and other key components of the plant. Upon completion of the Intermediate Design Phase the P&ID shall be ready
for detail design and the plot plan shall be complete. Deliverables include: 
 a. Milestone Schedule 
 b. Material Balance(s) 
 c. Materials of Construction Requirements

 d. Process Flow Diagrams 
 e. P&ID issued for detailed
design 
 f. Equipment List 
 g. Equipment Narratives/Data
Sheets 
 h. Equipment Layouts 
 i. General Pipe Routing

 j. Plot Plan 
 k. Project schedule update 
 l. TIC estimate update. 
 m. Initiate long lead equipment
requisitions/purchase orders 
 2. Detail Design Phase (Commercial Terms: T&M; Estimated Fees: [*]);—In this stage the design shall be refined to a
stage that fabrication and construction drawings can be made, and all major long lead equipment items and other hardware can be procured, expedited and delivered to site to support the construction schedule. Deliverables include: 
 a. Final P&ID’s issued for construction. 
 b. Sequence of
Operations. 
 c. Unit emissions (flow, state, composition and temperature/pressure) characterized as min/ max/ average by stream. 
 d. Utility consumption and the specific operating condition or output on which it is based. 
 e. Civil/structure detailed drawings and construction scope of work packages. 
 f. Piping isometrics, drawings and
construction scope of work packages. 
 g. Mechanical/equipment drawings and construction scope of work packages. 
 h. Electrical detailed drawings and construction scope of work packages. 
  

					
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 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 28 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 i. Instrumentation detailed
drawings and construction scope of work packages. 
 j. Construction Plans and Specifications. 
 k. Final Heat and Material Balance. 
 l. Final Process Flow Diagrams. 
 m. Complete long lead equipment procurement requisitions/ purchase orders. 
 n. TIC estimate updated to <5% variance. 
 In support of the Project schedule needs, CONTRACTOR shall pursue opportunities to advance the
project schedule in a manner that will not impact quality of CONTRACTOR’s services, but would allow construction work packages to be issued in a most timely manner. Accordingly, CONTRACTOR shall initiate an overlap of Detail Design and
Procurement Services with Intermediate Design where feasible for schedule advancement to support early construction. Within the next [*], CONTRACTOR shall explore opportunities to perform Detail Design to the maximum extent practical of some or
all of the following: 
 a. Reactor building 
 b. Plot Plan

 c. Unit layouts 
 d. Site grading 
 e. Road beds 
 f. TCS rail car unloading facility 
 g. Tank farm 
 h. MgSi storage building 
 i. Post Process/Support building 
 j. Plant cooling water system (outside
process areas) 
 k. Plant fire water system (outside process areas) 
 l. Plant potable water/service water system (outside process areas) 
 m. Plant sanitary and process sewers (outside process areas) 
 n. Unit Substations (MCC’s) 
 o. Underground Duct Banks 
 p. Main Plant Pipe rack 
 q. CDI system 
 3. Construction Phase-Engineering Services (Commercial Terms: T&M; Estimated Fees: Included in Detail Design Phase); - During this stage CONTRACTOR shall provide
engineering services in support of construction and expediting of CONTRACTOR procured long lead equipment items (both as part of Detail Design Phase), and Construction Management Services. Deliverables include: 
 a. Response to Requests for Information (RFI’s) from construction contractor(s) 
 b. As-builts 
 c. Document files to owner 
 4. Construction Phase-Construction Management (Commercial Terms: T&M; Estimated Fees: [*]); CONTRACTOR shall: 
  

					
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 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 29 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 a. Act as OWNER’S
independent authority in providing construction management services from design through final completion of the project. OWNER shall enter into separate agreements with construction contractor(s) for the construction of the project. The construction
contractor(s) are solely responsible for construction means, methods, techniques, sequences and procedures used in the project, for the safety of their personnel, property, and operations and for performing in accordance with the agreement between
OWNER and construction contractor. Nothing in this agreement shall be construed to mean CONTRACTOR assumes any construction contractor responsibilities or warrants their work in any way. 
 b. Coordinate all construction necessary for the completion of the project, including coordinating OWNER agreements with the construction contractors. 
 c. Monitor construction contractor(s) work. 
 d. Review construction contractor requests for changes in their work,
negotiate construction contractor proposals, submit recommendations to OWNER, and if accepted by Owner, prepare change orders or other appropriate authorization for Owner’s signature. 
 e. Review construction contractor payment applications and make recommendations to OWNER regarding such payment. 
 f. Assist OWNER in developing a Project Safety Program (PSP) and reviewing construction contractor safety plans for consistency with OWNER and PSP requirements.

 g. Prepare for OWNER’S approval a preliminary schedule (Project Schedule) for Services and construction contractor(s) work that includes OWNER
requirements through final completion. 
 h. Assist Owner in developing a quality control plan for the project 
  

					
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 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 30 of 90) 

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 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 SCHEDULE 1 TO EXHIBIT A 
 The following Preliminary Drawings are attached to this Schedule 1
pursuant to the Engineering, Procurement and Construction Management Agreement dated as of August 7, 2007, between HOKU MATERIALS, INC. and STONE & WEBSTER, INC. (the “Agreement”). Capitalized terms not
otherwise defined herein are defined in the Agreement. 
 Preliminary Block Flow Diagrams: 
 [*] 
 [*] 
 [*] 
 Preliminary Process Flow Diagrams: 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 [*] 
 Preliminary Plot Plans: 
 [*] 
 [*] 
 Equipment List: 
 [*] 
  

					
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EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
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 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 32 of 90) 

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BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
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EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
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 Exhibit A to Engineering, Procurement & Construction Management Agreement 
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EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
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 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 35 of 90) 

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BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
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 Exhibit A to Engineering, Procurement & Construction Management Agreement 
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 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 37 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 38 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 39 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 40 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 41 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 42 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 43 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 44 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 45 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 46 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 47 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 48 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
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EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 49 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
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	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 50 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 51 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 52 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 [*] 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 53 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 APPENDIX 1 TO EXHIBIT A 
 PROCUREMENT PLAN 

  

	1.	GENERAL 

 The attached Procurement Plan is being provided by Contractor to
Owner pursuant to the Engineering, Procurement and Construction Management Agreement dated as of August 7, 2007, between HOKU MATERIALS, INC. and STONE & WEBSTER, INC. (the “Agreement”), and defines the
procedures that govern how Contractor will procure materials, equipment and services for the Work to be performed for Owner pursuant to the Agreement to which this Appendix is attached and incorporated into by reference. Capitalized terms not
otherwise defined herein are defined in the Agreement. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 54 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

	1.0	INTRODUCTION 

  

	1.1	GENERAL 

 This Procurement Plan is constructed as part of
an integrated team effort between engineering and procurement for the Hoku Materials Polysilicon Plant, located in Pocatello, Idaho. The procurement effort will be focused on the most expeditious method for obtaining the required equipment,
materials and/or services while endeavoring to meet Hoku Materials’ budget, design and quality standards. 
 The purpose of this
Procurement Plan is to provide a framework for obtaining equipment, materials and/or services within the shortest possible time frame while maintaining the necessary fiscal and administrative controls. 
 This Procurement Plan includes Project specific policies, procedures, instructions and the procurement execution strategy for the sourcing, expediting,
source inspection and transportation requirements for purchase of goods and services by Shaw/Stone & Webster (hereinafter referred to as “SS&W”) acting as agent for Hoku Materials. Moreover, this Procurement Plan outlines
methods to facilitate a uniform approach to project procurement responsibilities and functions. Unless otherwise stated, procurements will be executed in compliance with SS&W standard procurement procedures. 
 SS&W is acting solely as agent for Hoku Materials when making purchases under this Procurement Plan and shall have no liability to vendors and
suppliers related to or arising out of any purchase order issued by SS&W as agent for Hoku Materials. 
  

	1.2	SCOPE 

 The policies, responsibilities, and instruction in
this Procurement Plan are applicable to all procurement activities conducted by SS&W, including but not limited to, inquiry, order placement and administration, expediting, source inspection and logistics to complete the project. 
  

	1.3	RESPONSIBILITIES 

  

	1.3.1	PROJECT PROCUREMENT MANAGER 

 The Project Procurement
Manager (PPM) reports to the Project Manager and is the lead procurement representative on this project. The PPM’s responsibilities include all purchasing, expediting, inspection coordination, logistics activities, and status reporting. The PPM
further defines the role of Procurement for the project by preparing and issuing the Project Procurement Plan. The PPM is the single point accountable for all procurement related activities for the project. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 55 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

	1.3.2 	PROJECT EXPEDITIER (AS NEEDED) 

 The Project Expediter is
responsible for the execution of the equipment and material expediting effort for the project. The Project Expediter will report on vendor status to the PPM and will notify key project personnel of problems which occur on critical orders. The
Project expeditor will also coordinate equipment inspection activities for the Project in conjunction with the Lead Inspector. 
  

	1.3.3 	INSPECTION REPRESENTATIVE (AS NEEDED) 

 The Inspection
Representative assists engineering personnel in developing an effective source inspection program. The Inspection Representative is responsible for ensuring all specification, technical, and QA requirements are met and that specified activities in
the fabrication cycle, especially witnessed testing of critical equipment, are performed satisfactorily. Inspection activities shall be coordinated with the Project Expediter and will include specific expediting activities and status reporting.

  

	1.3.4	LOGISTICS REPRESENTATIVE (AS NEEDED) 

 The Logistics
Representative is responsible for preparing shipment and transport provisions. The Logistics Representative will evaluate the overall benefits of arranging for the transport of all heavy lift and oversize loads from the Supplier’s facility to
the project location. The Logistics Representative is responsible for providing the appropriate support necessary to achieve the project’s logistics goals. The Logistics Representative ensures that the purchased goods and materials arrive at
the stated destination in a damage free condition. 
  

	2.0	SPECIAL PROJECT REQUIREMENTS 

  

	2.1	AUTOMATED PROCUREMENT SYSTEM 

 A SS&W automated
procurement system, MARIAN, will be utilized to the maximum extent possible for project support of procurement tasks. 
  

	2.2	APPROVED VENDORS LIST 

 To be Determined 
  

	2.3	SCHEDULE REQUIREMENTS 

 The procurement activities
identified in this plan will be executed in accordance with a Schedule to be prepared by the project. The Schedule will identify the control dates required to successfully manage and monitor actual procurement progress on this project. 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 56 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 The following control
dates will be identified on the Schedule: 
  

	 	(a)	Requisition due date; 

  

	 	(b)	Inquiry issue date; 

  

	 	(c)	Proposal due date; 

  

	 	(d)	Recommendation for award date; 

  

	 	(e)	Date of award; 

  

	 	(f)	Field required date(s). 

  

	2.4	PROCUREMENT FILES 

 SS&W’s procurement effort for
the Hoku Materials Polysilicon Plant will be executed in SS&W offices in Houston, Texas. All Project hard copy and electronic procurement documentation and files will be maintained and stored in a secure location at SS&W’s Office. This
will include, but not be limited to, bid inquiries, successful bidder’s proposal and pre-award correspondence, bid evaluation, Purchase Orders and all post-award Purchase Order revisions, correspondence, approved invoices and Purchase Order
close-out documents. Electronic data will be retained in SS&W’s “Documentum” electronic data management system. 
  

	2.5	SPARE PARTS 

 If requested by Hoku, SS&W will procure
installation, start-up and commissioning spare parts and consumables for equipment purchases from the equipment suppliers. Installation, start-up and commissioning spare parts will be packed separately from the parent equipment and scheduled for
delivery with the parent equipment. 
  

	2.6	INSTALLATION, START-UP, TESTING AND COMMISSIONING SUPERVISION 

 Inquiries will solicit the manufacturer’s recommended requirements for installation, start-up, testing and commissioning supervision as required. The quotes shall include any requiredtravel, accommodations, meals and all other
applicable expenses. A rate schedule will also be requested to cover any additional support that may be requested by construction personnel. 
 The manufacturer’s recommended requirements for installation, start-up, testing and commissioning supervision will be transmitted to the requisitioning engineer upon receipt for review and development of the purchase recommendation.

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 57 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

	2.7	CLASSROOM TRAINING AND FIELD INSTRUCTION 

 Inquiries for
rotating equipment will solicit the manufacturer’s recommended requirements for classroom training and field instruction. The manufacturer will be expected to provide the appropriate personnel resources and materials necessary for classroom
training and field instruction. Any required travel, accommodations, meals and all other applicable expenses will be included as part of the quotation. A rate schedule will also be requested to cover any additional support that may be requested.
SS&W will cooperate with Hoku Materials for other training on an as required basis. 
 The manufacturer’s recommended requirements
for classroom training and field instruction will be transmitted to the requisitioning engineer upon receipt for review and development of the purchase recommendation. 
  

	2.8	SPECIAL TOOLS 

 If requested by Hoku, SS&W will procure
special tools required for installation, adjustment and or maintenance for all equipment purchases form the equipment suppliers as required. Special tools required for installation, adjustment and or maintenance will be separately packed from the
parent equipment and scheduled for delivery with the parent equipment. 
  

	2.9	INSTALLATION, OPERATION AND MAINTENANCE MANUALS 

 SS&W
will obtain the applicable installation, operation and maintenance manuals from the equipment suppliers (OEM). All installation, operation and maintenance manuals will be packed by the equipment suppliers and delivered to the attention of SS&W
Document Control. 
  

	2.10	LOGISTICS AND TRANSPORTATION 

 SS&W shall use
commercially reasonable efforts to have all project supplied equipment delivered to the Project site in support of the project schedule. All formal bid inquiries will solicit the manufacturer’s firm cost for delivery on a DDP, freight, import
taxes and duties paid basis (INCOTERMS 2000) to the Pocatello, Idaho Site. Equipment suppliers will be responsible for the delivery of equipment to the Project site except in cases where other considerations may dictate. 
 The manufacturer’s delivery costs will be transmitted to the requisitioning engineer upon receipt for review and development of the purchase
recommendation. 
  

	3.0	PROCUREMENT SAFETY PROVISIONS 

 The Hoku Materials
Polysilicon Plant Program’s purchasing effort will adhere to and be conducted in accordance with the overall Hoku Materials and SS&W project safety goals. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 58 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

	4.0	MATERIALS MANAGEMENT 

  

	4.1	PURPOSE 

 SS&W will provide home office based project
materials management and control services to accomplish the following for major capital equipment: 
  

	 	•	 	 Coordinate with the Project Expeditor/PPM for the delivery of purchased materials to responsible material controls personnel at the site;

  

	 	•	 	 Assist responsible field materials management personnel to resolve Over Short and Damaged (OS&D) Reports for materials identified in this plan; and

  

	 	•	 	 Insure that site in-storage preservation and preventative maintenance requirements are received from suppliers and provided to responsible materials management
personnel for implementation and use. 

  

	4.2	IN-STORAGE PRESERVATION AND PREVENTATIVE MAINTENANCE 

 Certain equipment received at the project may require some type of preservation or preventative maintenance to insure the item’s operability. The manufacturer and/or responsible engineer will normally establish requirements. The
Resident Engineer will develop a preventative maintenance program that addresses these requirements. The Field Materials Manager (FMM) will oversee implementation of the Program with the assistance of the Site Quality Representative. 
  

	4.3	SPARE PARTS 

 Purchase orders for plant equipment will
require suppliers to provide commissioning and startup spare parts. As spare parts are received and identified, they will be shipped and stored under control of responsible field materials management personnel. Suppliers will be instructed to ship
these materials separately such that they can be segregated in storage from like items. Spare parts will be identified by their catalogue number as well as the master equipment tag number, purchase order number and complete description. In the event
operational spare parts are purchased, the responsible FMM will interface with Hoku Materials operations personnel to insure an orderly turnover of operational spare parts. The FMM will additionally insure that excess construction and testing spares
are available for turnover after plant startup. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 59 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

	5.0	PURCHASING 

  

	5.1	GENERAL 

  

	5.1.1 	CONFIDENTIALITY OF PRICES 

 SS&W will require
confidentiality of supplier pricing and documentation be maintained at all times. Dissemination of Supplier’s price offerings, purchase order, pricing or ranking to individuals without a need to know is contrary to SS&W policies and
procedures. Supplier information will be controlled to insure that no prospective source of supply is afforded an unfair advantage over other suppliers. 
 Absolutely no information regarding supplier pricing shall be made available to anyone other than those who have a “need to know”. 
  

	5.1.2	INITIAL CONTACTS WITH SUPPLIERS 

 All initial contacts with
Suppliers shall be made through the Purchasing staff. If further discussions with members of another discipline are required, and if commercial aspects are to be discussed, Procurement will participate in the discussions. 
  

	5.1.3	TECHNICAL DISCUSSIONS WITH SUPPLIERS 

 Engineering
personnel may discuss preliminary technical information or technical aspects of a material requirement with a prospective bidder or potential supplier. However, it is the responsibility of the engineer to inform the PPM and Engineering Manager of
the discussion and instruct the Supplier to send any pertinent correspondence directly to the appropriate purchasing representative on this project. 
 Note: Engineering personnel are not authorized to solicit quotations from prospective bidders or suppliers to make commercial commitments on behalf of SS&W or Hoku Materials. 
 After placement of the Purchase Order, contacts of a technical nature that do not impact either cost or delivery may be made with a supplier by
Engineering personnel. However, a copy of all pertinent correspondence and notes must be provided to the PPM and Engineering Manager. 
  

	5.1.4	PREPARATION OF PROJECT REQUISITIONS 

 Each requirement for
inquiry or purchase must be initiated by Engineering by the preparation, review, approval, and transmittal of an Inquiry Requisition or Purchase Requisition utilizing SS&W’s corporate procurement procedures. After approval by the
appropriate Project designees, the Requisition serves as both a request and authorization for purchasing personnel to execute the purchasing action specified therein. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 60 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 It is the
responsibility of the PPM to carefully review the Requisition for purchase that is prepared by engineering. The Purchase Requisition must include, as a minimum, all base scope items, evaluated options approved for purchase, the total purchase price
and reference all applicable technical documents. In addition, procurement will review with engineering revisions to the technical specification that may have been necessitated by agreements reached with the recommended bidder. The PPM has the
authority to and shall reject any requisitions that do not meet minimum requirements. 
  

	5.1.5	CONSISTENCY OF REQUIREMENTS 

 The Requisition and reference
documents are to establish the technical requirements for the equipment, materials and/or services requested, but should not include or make reference to the commercial topics, including delivery requirements or payment terms, addressed in the
Projects’ standard commercial documents prepared by Procurement. 
 Procurement will incorporate applicable Terms and Conditions of
Purchase, Supplemental Terms and Conditions, (depending upon the warranty requirements) Project Special Notes, and other commercial content in all bid invitations and resulting purchase orders. 
  

	5.1.6	SOLE SOURCE PROCUREMENTS 

 In selected cases, it may be in
the Project’s best interest to obtain materials, equipment, supplies, spare parts, field service representatives or services from a sole source in lieu of soliciting competitive bids. Determinations with respect to the need, justification, and
acceptability of such a purchase shall be based on the special facts of each case. 
 Noncompetitive bidding must be qualified as an allowable
sole source procurement with appropriate justification based on the following: 
  

	 	(a)	recent project experience where equipment was competitively bid, 

  

	 	(b)	sole supplier of proprietary product or services, 

  

	 	(c)	technical factors required the specific design or performance to accomplish the desirable results, 

  

	 	(d)	must meet superior standards as to proven grade and reliability, 

  

	 	(e)	Client preferred or recommended supplier, 

  

	 	(f)	for use in combination with existing equipment and substitutes are unacceptable for technical or physical reasons. Must supply replacement parts or services to maintain the original
design and performance, 

  

	 	(g)	SS&W Subsidiary or Alliance, 

  

	 	(h)	other project specific reasons, which will be outlined in detail. 

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 61 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 Should the responsible
engineer or Hoku determine that the purchase shall be noncompetitive, the responsible engineer, as part of the Purchase Requisition shall initiate a Sole Source Justification Form. It is the PPM’s responsibility to ensure that the Sole Source
Justification Form includes all required signatures prior to releasing the purchase commitment. The original Sole Source Justification Form will be filed along with the Inquiry / Purchase Requisition in the Procurement Files. 
  

	5.2	INQUIRY PREPARATION AND ISSUE 

 Upon receipt of a
requisition by Purchasing, the material requirements will be reviewed and a list of proposed bidders will be selected from the project’s Approved Vendors List. If the list does not include the appropriate material category or bidders capable of
meeting the requirement, a list of proposed bidders will be developed for the submission to Hoku Materials for review, comment and approval. 
  

	5.3	INQUIRY CONTENT 

 Inquiries will specifically include
project name and location, required delivery date, indicating priorities and delivery sequence, if necessary, quantity and tag numbers, item description with all relevant specification and code data, required receipt date for submittal drawings,
design calculations and other vendor data relevant to SS&W needs and those of others, including spare parts lists and special tools, required number of instruction and operating manuals, inspection points, and bulk material returned goods
provisions, if applicable. 
  

	5.4	SOLICITATION OF BIDS 

 Two (2) purchasing methods will
be used by SS&W in fulfilling project requirements, the Formal and Informal Solicitation Method. 
  

	5.4.1	Formal Solicitation Method 

 The formal solicitation method
will be used for the following items: 
  

	 	•	 	 Purchases involving items to be furnished in accordance with detailed design or performance specifications, 

  

	 	•	 	 Purchases having an estimated value of $50,000 or more. 

 Use of a formal sealed bid procedure with formal bid openings will not be imposed on this Project. However, Procurement will follow the general guidelines of such a procedure. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 62 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 If it becomes
necessary to make changes to the technical or commercial requirements of the Inquiry, once issued, under the formal solicitation method, such changes shall be documented in the form of a formal written Amendment and sent to all active Bidders. Its
receipt must be acknowledged within the Bidder’s proposal. 
 The type and number of Bidders will be determined by the budget value of
the requisition. The following table details the requirements: 
  

	5.4.2	Informal Solicitation Method 

 The informal solicitation
method may be used for purchases having an aggregate value of less than $50,000 where there is no cost advantage to offset the internal administrative costs associated with competitive bidding. The informal process will not require sealed bids and
will allow for submittal by various methods including fax and email. 
  

	5.5	RECEIPT, OPENING, AND TRANSMITTAL OF PROPOSALS 

 Should
Engineering be required to review proposals and prepare a Technical Comparison of Bids, copies of the proposals received will be transmitted to the Requisitioning Engineer as soon as practicable after bid opening. 
  

	5.6	SS&W SELECTION 

  

	5.6.1	Bid Evaluation and Purchase Recommendation 

 After receipt
of proposals, the responsible engineer and Hoku Materials will jointly review the bids received and select the bidder(s) with the most competitive proposal(s) to be further considered for evaluation and award. Discussions with other than the most
competitively ranked bidder(s) will be pursued only in the event of unsatisfactory responses obtained during proposal clarification. 
 No
information will be provided to any Bidder with respect to its relative ranking or status during the proposal clarification period. 
 Procurement shall, when appropriate, prepare the Commercial Comparison of Bids and Engineering, when appropriate, shall prepare a Technical Comparison of Bids. Procurement shall coordinate the timely completion of the combined bid
comparison to support a final recommendation for award. In cases where the procurement is made on a sole source basis, a recommendation memo incorporating commercial and technical justification shall be prepared and signed-off by the PPM,
Engineering Manager and the Project Manager. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 63 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 Sufficient information
will be entered on the Commercial Comparison of Bids to conclusively support the recommendation. Bidders who failed to respond or declined to bid will be noted in the “Notes” section of the Commercial Comparison of Bids. 
 The name of the recommended Supplier, the total purchase price and the basis for recommendation shall be entered in the space designated on the Commercial
Comparison of Bids. The Supplier selected must always be technically acceptable and generally, have offered the most competitive commercial proposal which meets the quality, price, and delivery requirements of the project. The Commercial and
Technical Comparison of Bids will then been forwarded to Hoku Materials for signature approval. 
 Upon approval of the recommended supplier,
the requisitioning engineer will initiate a Purchase Requisition and begin preparation of the conformed specification when applicable. Once complete, the engineer shall transmit a sufficient number of conformed specifications and drawings to support
the complete Purchase Order distribution to Procurement. 
  

	5.7	PURCHASE COMMITMENTS 

  

	5.7.1	NOTIFICATION OF COMMITMENT 

 After the required approval
for purchase has been received, Hoku Materials or SS&W acting as agent for Hoku Materials will issue a purchase commitment to the selected supplier in the form of a hard copy Purchase Order or Letter of Award (LOA), and, as appropriate, notify
the unsuccessful bidders. 
 Purchase commitments made by a LOA will be confirmed by the issuance of a formal Purchase Order incorporating all
the applicable terms and conditions, documentation, and specifications, as soon as practicable thereafter. If the conformed specification is expected to take more than ten (10) days to prepare, the PPM, with the Project Manager’s approval,
may elect to issue the Purchase Order without the conformed specification. In these instances, the Inquiry specification shall be referenced in the Purchase Order and the following words shall be included: “a conformed specification,
incorporating all agreed to technical conditions and technical requirements will be issued shortly via Purchase Order Revision”. Once ready, the conformed specification will be issued via a Purchase Order Revision. 
  

	5.7.2	PURCHASE ORDERS 

 Confirmation of all purchase awards will
be made through the issuance of a formal Purchase Order document incorporating therein the appropriate procurement documents and technical specification, standards, agreements, etc., as agreed by Hoku Materials or SS&W acting as agent for Hoku
Materials and the successful Supplier. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 64 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 Purchase Orders will
be issued by either Hoku Materials or SS&W acting as agent for Hoku Materials and shall require that the vendor request for payment be sent to Hoku Materials in care of SS&W. 
 The purchasing documents to be attached to and incorporated in this project’s Purchase Orders are as follows: 
  

	 	•	 	 Specifications, Standards, Drawings and Data Sheets 

  

	 	•	 	 Terms and Conditions of Purchase 

  

	 	•	 	 Supplemental Terms & Conditions 

  

	 	•	 	 Special Shipping Instructions, if required 

  

	 	•	 	 Lien Waiver(s), if required 

  

	 	•	 	 FTP Site Usage Instructions (if required) 

  

	 	•	 	 Tax Exemption Certificates (if applicable) 

 Purchase Orders will include as a minimum the following major commercial agreements: 
  

	 	•	 	 Total Purchase Order value 

  

	 	•	 	 Unit Pricing and extensions for material / equipment Scope of Work 

  

	 	•	 	 Terms of Payment 

  

	 	•	 	 Acceptable Commercial deviations 

  

	 	•	 	 Shipping Terms 

  

	 	•	 	 Shipping Points 

  

	 	•	 	 Delivery Date(s) 

  

	 	•	 	 Ship to Address 

  

	 	•	 	 Expediting Contacts 

  

	 	•	 	 Communication channels 

  

	 	•	 	 A clear statement that SS&W is acting solely in its capacity of agent for Hoku Materials. SS&W has not assumed and shall not be subject to any liability
whatsoever for the obligations contracted for under the subject Purchase Order. Vendor agrees to look solely to Hoku Materials for payment and for the enforcement of any claim or liability whatsoever arising from or in connection with the Purchase
Order. 

 Formal acceptance of the Purchase Order by Seller will be required by the return of the signed copy of the
executed Purchase Order, when the total value of the Order is $10,000.00 or more. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 65 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

	5.8	CHANGES TO PURCHASE AGREEMENTS 

  

	5.8.1	CHANGE ORDERS 

 All changes, including additions and/or
deletions that affect the technical scope of supply as well as the price, delivery schedule, or other commercial requirements of an existing purchase agreement, must be confirmed through the issuance of a Change Order. Change Orders will be issued
utilizing the same procedures as for the original Purchase Order. Approvals for Change Orders will be evidenced by a properly executed Change Order Authorization form. 
  

	5.8.2	REVISED PURCHASE REQUISITIONS 

 Modification to the
technical requirements of a Purchase Order must be initiated by the preparation, review, approval and transmittal of a Requisition to the PPM. 
  

	5.8.3	PROCUREMENT STATUS REPORT 

 For tracking procurement
activities, a Procurement Status Report is prepared and maintained for equipment/materials procured for this project. 
 The Procurement
Status Report, issued on a bi-weekly basis, is the responsibility of the Buyer under the direction of the PPM. 
  

	6.0	SOURCE INSPECTION 

 Should Purchase Orders require
inspection at the Supplier’s facilities, inspections will be performed by SS&W inspection personnel and /or engineering representatives, unless directed otherwise by Hoku Materials. Third party Inspection personnel may be used when it is
cost effective. 
 The inspection effort will require close coordination between the project expediter, inspection personnel, requisitioning
Engineer and PPM for the execution of the inspection requirements. 
 Proper coordination will minimize the chance of misinterpretation of
inspection requirements, ensure speedy resolution of discrepancies encountered during fabrication and provide on time, up to date inspection results via written inspection reports to the project. 
 The objective of the inspection effort is to ensure that all requirements contained in the Purchase Orders, specifications and drawings are met and that
specified activities in the fabrication cycle, especially witnessed testing of critical equipment at the specified hold points, are performed to Hoku Materials and SS&W satisfaction. Inspections will be carried out in accordance with the Project
Inspection Plan. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 66 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 This project’s
inspection functions will be performed under the direction of the Manager of Inspection and PPM as follows: 
  

	 	•	 	 Assist engineering personnel in developing an effective source inspection program for inclusion in the procurement specification, e.g., appropriate hold,
notification, witness points, procedures and drawings to be submitted for review and / or approval, records to be supplied during fabrication etc. 

  

	 	•	 	 When requested, review bids received to ensure that quality assurance requirements of the procurement specification have been addressed;

  

	 	•	 	 Provide source inspection and expediting services including coordination of these services. 

  

	 	•	 	 Where applicable, perform inspections and /or surveillance in Supplier’s facilities, witness selected tests, verify fabricating procedures, and ensure that
quality and acceptance test requirements are in compliance with the procurement documents; 

  

	 	•	 	 Verify, as required, that supplier drawings are of the latest issue, and reconcile any apparent discrepancies between drawings and specifications before final
inspection; 

  

	 	•	 	 Verify, witness, or perform inspections, as required by the Inspection Attribute List, to ensure compliance with specifications; 

  

	 	•	 	 Prepare and issue Inspection Reports after each visit. 

  

	 	•	 	 Review documentation / records of inspections and tests required by the procurement documents prior to release for shipment. 

  

	6.1	INSPECTION ATTRIBUTE LIST 

 The basis for inspection of
equipment and materials at the Supplier’s facilities is the Inspection Attribute List, hereinafter “IAL.” The IAL establishes the inspection attributes to be verified and / or witnessed by the SS&W or Hoku Materials inspection
representative. 
 The IAL is based on the Purchase Order and all applicable specifications, drawings and or documents contained therein. When
applicable, the IAL shall be included with the Inquiry package, for equipment and/or materials selected by the Project as requiring source inspection, to insure that the Supplier quotes all inspection requirements accordingly. If the Project decides
that source inspection is necessary for equipment and/or materials after the Inquiry has been issued, the IAL shall be included in the Purchase Order documentation. 
 The IAL is prepared by the requisitioning engineer who is responsible for all project related inspection, test and documentation requirements. The Project Inspection Coordinator assists the requisitioning engineer
with review and concurrence of IAL’S. Once completed and signed, the IAL is given to the PPM for issue with the Inquiry or Purchase Order package as applicable. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 67 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

	6.2	FINAL INSPECTION REPORTS 

 Final Inspection Reports are to
be submitted to Hoku Materials after final inspection and testing have occurred. 
 The final Inspection Report will consist of a detailed
report of the inspection, Certificate of Compliance (if required by the technical specification) and Shipping Release with the following information: 
  

	 	•	 	 Item Description, P.O. Number and identification of all Revisions issues thereto, 

  

	 	•	 	 Equipment / Material Number, 

  

	 	•	 	 Date and location of inspection. 

  

	6.4	PROJECT INSPECTION FILES 

 The Inspection Coordinator will
maintain a complete set of the inspection files, containing all relative inspection IAL’S, reports, submittals and correspondence relative to all inspection activities for this project. 
 Upon completion of the project, the Inspection Coordinator will be responsible for forwarding all of the project inspection files to the PPM for
incorporation into Documentum. 
  

	6.5	HOKU MATERIALS INSPECTION PARTICIPATION 

 Hoku Materials
may, at their option, participate in the inspection activities planned for the project. SS&W will advise Hoku Materials in writing prior to the scheduled date of inspection. 
 If Hoku Materials does not intend to witness the testing or fails to confirm its participation, SS&W, unless directed otherwise, maycarry out the
inspection of the equipment/materials without the presence of Hoku Materials inspection personnel and in accordance with any applicable SS&W contractual responsibilities. 
 When Hoku Materials elects not to have inspection representation, a copy of any SS&W inspection report will be provided to Hoku Materials. 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 68 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Procurement Plan
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

	6.6	RELEASE FOR SHIPMENT 

 The Inspection Coordinator will
review all previously issued Inspection Reports to ensure applicable and required inspection attributes have been completed and, if satisfactory, then issue an Inspection Release form, signifying the release for shipment of the equipment and or
materials is approved. The Inspection Release form will be issued to the Inspection Coordinator with the final inspection report. The Inspection Coordinator will forward a copy of the Inspection Release form to the Project Expeditor. In the event
the Purchase Order requires transportation for heavy lifts and / or oversize loads, the Project Expediter will forward the Inspection Release form to the traffic coordinator, for release of the equipment and or materials for shipment. 
  

	7.0	LOGISTICS 

 In most cases, it is anticipated that
Hoku Materials will elect to have the equipment manufacturer responsible for delivery to the jobsite. Therefore, Logistics involvement will be on an as needed basis as determined by the PPM. The Logistics Representative will, however, be involved on
all Purchase Orders that require heavy lifts, oversize loads and where applicable, items being imported. 
  

	8.0	APPROVALS 

 Formal Purchase Orders will be issued by
SS&W acting as an authorized agent for Hoku Materials. Purchase Orders must be approved and signed by an authorized representative for Hoku Materials prior to issuance. This procedure also applies to Change Orders and Letters of Award.

  

	9.0	DEVIATIONS OF STANDARD PROCEDURES 

 The Project will
be executed utilizing standard procurement procedures except as specified in this Procurement Plan. 
  

	10.0	REPORTS 

 Procurement shall prepare and issue the
following reports to the Project Manager and appropriate Project personnel: 
  

	 	•	 	 Purchase Order Register 

  

	 	•	 	 PO Commitment report 

  

	 	•	 	 Material Status Reports 

  

	 	•	 	 Inspection Reports 

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 69 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 EXHIBIT B 
 CONTRACT TIME SCHEDULE 
 The following Contract Time Schedule is attached as Exhibit B to the Engineering, Procurement and Construction Management Agreement dated as of August 7, 2007,
between HOKU MATERIALS, INC. and STONE & WEBSTER, INC. (the “Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 The “Preliminary Reactor Test Demonstration” is scheduled for completion on or before October 31, 2008. For purposes of the Agreement, the Preliminary Reactor Test Demonstration means that two or
more polysilicon deposition reactors at the Site are set-up such that they may be put into short term testing and operation to produce polysilicon (permanent connections, automatic controls, etc. are not required for this milestone) independent of
the full facility. 
 The “Mechanical Completion” is scheduled to be accomplished on or before January 31, 2009. For purposes of the
Agreement, Mechanical Completion means that, except for non-critical and punch list items, (i) all production equipment is substantially installed and checked for alignment, calibration, lubrication, rotation, and hydrostatic and/or pneumatic
pressure integrity; (ii) the appropriate systems have been flushed and cleaned; and (iii) the Project is substantially ready to commence commissioning and start-up activities. 
 “Substantial Completion” (as defined in the Agreement) is scheduled to be accomplished on or before May 31, 2009. 
 The inability of the Owner to occupy and use the Project because of failures or deficiencies arising from (1) Owner furnished equipment or materials or (2) unperformed work or obligations of the Owner, including acts or omissions
of the Owner’s other contractors and vendors; shall not be a reason for the Owner to refuse to either extend a milestone date or for Owner to refuse to issue a milestone certificate deeming the milestone as achieved by Contractor. 

 

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit A to Engineering, Procurement & Construction Management Agreement 
 (Page 70 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 EXHIBIT C 
 SCHEDULE OF INSURANCE 
 The following Schedule of Insurance is attached as Exhibit C to the Engineering, Procurement and Construction Management Agreement dated as of August 7, 2007,
between HOKU MATERIALS, INC. and STONE & WEBSTER, INC. (the “Agreement”). Capitalized terms not otherwise defined herein are defined in the Agreement. 
 1. Insurance. 
 1.1. Insurance Requirements. Contractor shall provide and maintain in effect,
from the time of commencement of the Work hereunder, until completion of all Work, the following amounts and types of insurance: 
 a) Commercial General Liability with limits of coverage of $2,000,000 general aggregate, $4,000,000 products/completed operations aggregate, and $1,500,000 personal and advertising injury. 
 b) Business Automobile Liability insurance covering all owned, hired, and non-owned vehicles used in the operations of Contractor with
limits of coverage of a Combined Single Limit of $2,000,000 per accident for bodily injury and property damage. 
 c)
Workers’ Compensation Insurance and/or Longshoremen’s and Harborworkers’ Compensation Insurance as required by law and regulations applicable to and covering employees of Contractor engaged in the performance of the Services in
compliance with the laws of every state in which the Services is being performed. Policy must be endorsed to provide Maritime Coverage, Voluntary Workers’ Compensation and Stop Gap Liability. 
 d) Employers’ Liability Insurance (Coverage B) with limits of coverage of: $1,000,000 per accident, bodily injury by accident;
$1,000,000 Policy Limit, bodily injury by disease; and $1,000,000 per employee, bodily injury by disease. 
 e) Excess
Liability with limits of coverage of $10,000,000 each occurrence and $10,000,000 in the aggregate. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 71 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 EXHIBIT D 
 CONTRACTOR’S RATE
CLASSIFICATION SCHEDULE 
 This Contractor’s Rate Classification Schedule is being delivered by Contractor to Owner
pursuant to the Engineering, Procurement and Construction Management Agreement dated as of August 7, 2007, between HOKU MATERIALS, INC. and STONE & WEBSTER, INC. (the “Agreement”). Capitalized terms not
otherwise defined herein are defined in the Agreement. 
 1. Basis for Reimbursement 
 The Contract Price to be paid by Owner to Contractor shall include the following: 
 1.1. Compensation 
 Compensation for providing the Work shall be billed and paid by Owner per the attached Job Classification and Compensation Schedule, which shows the fully computed Base
Rate per hour as defined below for each direct labor hour worked by Contractor’s personnel. In the event Contractor pays for services or goods in a currency other than the US Dollar, the parties shall use the applicable exchange rates published
by the Wall Street Journal to determine costs resultant from any currency fluctuations if Contractor’s actual costs cannot be reasonably determined. 
 1.2. Base Wages and Salaries of Personnel 
 The base wages paid to personnel for hours expended on the Work (Base Wages) are based upon the
following. 
  

	 	1.	Hourly rate is determined by dividing monthly salary by 173.33, or annual salary divided by 2080 hours for exempt/salaried employees. Hourly rate for other employees shall be based
on W2 wages. 

  

	 	2.	Overtime is paid in accordance with applicable Federal and State laws. 

 Vacation, sick and holiday pay shall be in accordance with Contractor’s policy and shall paid by Contractor as part of its 2.35 multiplier referred to in Paragraph 1.6 below. 
 1.3. Other Costs and Expenses 
 Mileage 
 Long distance automobile travel incurred during performance of the Work will be billable at the current IRS standard rate, currently $.485 mile. 
 Postage 
 Postage is normally covered in overhead and not reimbursable unless
authorized in writing in advance by Owner. Courier services are reimbursable when authorized by Owner. 
 Other Travel 
 Other Travel requested and approved by Owner will be reimbursable at cost in accordance with the following guidelines: For domestic travel, air travel fares are limited
to coach class; automobile rental rates limited to compact class; and hotel rates at lowest available for single room, commercial rate when available. Meal expenses shall be reasonable or at established IRS per diem rates. For international travel,
air travel fares will be at business class. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 72 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 Consultants 
 Consultants for work in Contractor’s office, as requested in writing by Owner, will be billed at Contractor’s cost plus [*]. 
 Miscellaneous and Third Party Costs 
  

	 	•	 	 Miscellaneous goods and services of a minor nature provided by third party vendors will be billed at cost. Courier services will be reimbursed at cost when
authorized by Owner. Miscellaneous reimbursable costs shall include: That portion of insurance and bond premiums required by the Agreement and deductibles directly attributable to the Project; provided, however, that the cost of such insurance is
not already included in labor and equipment rates. 

  

	 	•	 	 Sales, use or similar taxes imposed by a governmental authority that are related to the Work for which Contractor is required to pay. 

 

	 	•	 	 Fees and assessments for the building permit and for other permits, licenses and inspections for which the Contractor is required to pay, if any.

  

	 	•	 	 Fees of laboratories for tests required by the Contract Documents or requested by Owner. 

  

	 	•	 	 Royalties and license fees paid for the use of a particular design, process or product required by the Contract Documents; the cost of defending suits or claims for
infringement of patent rights arising from such requirement of the Contract Documents; and payments made in accordance with legal judgments against the Contractor resulting from such suits or claims and payments of settlements made with the
Owner’s consent. However, such costs of legal defenses, judgments and settlements shall not be included in the calculation of the TIC. 

  

	 	•	 	 Data processing costs related to the Work. 

  

	 	•	 	 Legal, mediation and arbitration costs, including attorneys’ fees, other than those arising from disputes between the Owner and Contractor, reasonably incurred
by the Contractor in the performance of the Work, including, but not limited to costs incurred in assisting Owner in defense of claims from other contractors and suppliers. However, such costs of legal defenses, judgments and settlements shall not
be included in the calculation of the TIC. 

  

	 	•	 	 Expenses incurred in accordance with the Contractor’s standard personnel policy for relocation and temporary living allowances of personnel required for the
Work. 

  

	 	•	 	 Design Builder’s capital expenses, including interest on the Contractors capital employed for the Work to the extent that Contractor is not kept cash neutral,
which would include interest on any late payments. 

  

	 	•	 	 Other costs incurred in the performance of the Work if and to the extent approved by the Owner. 

  

	 	•	 	 Costs due to emergencies incurred in taking action to prevent threatened damage, injury or loss in case of an emergency affecting the safety of persons and
property. 

  

	 	•	 	 Costs of temporary Site facilities (e.g. office trailers, etc.), power, phone, water, sanitary facilities, costs of fuel, oil, grease, small tools, scaffolding,
welding rod, gasses, tarps, ice, drinking water, first aide supplies, hardhats, safety glasses, ear protection, fall protection, all necessary personal protection equipment, cleaning supplies, batteries, safety awards and approved safety incentives,
other consumables used or expended in the performance of the Work. 

 1.5 Bulk Materials 
 If Contractor is requested to provide bulk materials or equipment as part of its Work, Owner and Contractor shall negotiate a mutually acceptable fee to cover
Contractor’s overhead and profit commensurate with the work requested. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 73 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 1.6. Payroll Burdens and
Overhead 
 Payroll burdens include payroll taxes; workers’ compensation and employer’s liability insurance; and group life, hospital and medical
insurance for Contractor’s employees; 
 Overhead costs include general accounting, personnel, legal and sales expenses, readiness to serve, rent,
utilities, office furniture, fixtures and supplies, general insurance, and other indirect costs comprising Contractor’s general office overhead and administrative costs. 
 Contractor’s Payroll Burdens and Overhead will be billed at 2.35 times all Base Wages actually expended by Contractor’s employees on the Work. 
 In the event the total amount billed by Contractor to Owner for the Work exceeds the Target Price, the Payroll Burden and Overhead Rate for Contractor’s employees will be reduced to 2.1 times all Base Wages on
the incremental amounts in excess of the Target Price. 
 1.7. Contract (Agency) Personnel 
 In the event Contractor shall use any contract (agency) personnel in the performance of its Work, Contract/agency personnel shall billed at 1.5 times the invoice amount received from agency. In the event that the cost
of Contractor’s Work exceeds the Target Price in the aggregate, contract/agency personnel shall be billed at 1.25 times the invoice amount received from the agency on the incremental amounts in excess of the Target Price aggregate. 

1.8. High Value Engineering 
 Should Owner and Contractor agree to have
any of the Work performed at Contractor’s high value engineering center in India, such Work shall be billed at a flat rate of [*] per man hour, which includes Payroll Burden and Overhead. 
 1.9. Fee 
 Contractor’s Fee, or profit, is applied to the total of all
costs of the Work outlined in 1.1 through 1.8 above. For all Work, Contractor’s Fee rate shall be [*] and shall be limited to the those billings that fall within the Target Price billed to Owner for the Work (inclusive of the applicable Fee).
Thereafter, Contractor’s Fee shall be reduced to zero. 
 2. Incentives 
 In addition to the Compensation to Contractor as outlined in Section 1, Contractor shall be eligible for certain incentives as outlined in Addendum 1 to this Exhibit D which is
attached hereto. Such incentives shall be in addition to the compensation outlined above. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 74 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 Job
Classification and Base Compensation Schedule 
 for Hoku Materials 
 (Confidential) 
 The attached Job Classification and Base Compensation Schedule is being delivered by
Contractor to Owner pursuant to the Engineering, Procurement and Construction Management Agreement dated as of August 7, 2007, between HOKU MATERIALS, INC. and STONE & WEBSTER, INC. (the “Agreement”). Capitalized terms not
otherwise defined herein are defined in the Agreement. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 75 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Rate Classification Schedule
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 STONE &
WEBSTER 
 RATE CLASSIFICATION SCHEDULE 
  

									
	 	  	SSW Salary Ranges	 
	 	  	20th/80th Percentile	 
	 	  	Low	 	 	High	 
	 Y
	  	$	[	*]	 	$	[	*]
	 X
	  	$	[	*]	 	$	[	*]
	 W
	  	$	[	*]	 	$	[	*]
	 V
	  	$	[	*]	 	$	[	*]
	 U
	  	$	[	*]	 	$	[	*]
	 T
	  	$	[	*]	 	$	[	*]
	 S
	  	$	[	*]	 	$	[	*]
	 R
	  	$	[	*]	 	$	[	*]
	 Q
	  	$	[	*]	 	$	[	*]
	 P
	  	$	[	*]	 	$	[	*]
	 O
	  	$	[	*]	 	$	[	*]
	 N
	  	$	[	*]	 	$	[	*]
	 M
	  	$	[	*]	 	$	[	*]

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 76 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Rate Classification Schedule
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  

			
	 Classification
	  	 Representative Titles

	Y	  	CAE Analyst 4-5, Construction Engineer 5, Construction Engineer Mgr 2-5, Construction Mgr 3-5, Construction Site Mgr 2-5, Director, Engineer 5-6, Engineering Mgr 3-5, Engineering Technologist
4-6, Estimating Mgr 3-4, Maintenance Site Mgr 3, Project Controls Mgr 3-5, Project Engineer 5-6, Project Mgr 2-5, QA Mgr 3-5, Senior Director, Sourcing Mgr 3-5, Subcontract Admin Mgr 4-5
		
	X	  	Admin Mgr 2, CAE Analyst 3, Construction Engineer 4, Construction mgr 2, Construction Site Mgr 1, Cost Analyst 5, Designer 2, Engineering Mgr 2, Estimating Mgr 2, Estimator 5, Materials Mgr
3, Project Controls Mgr 2, Project Engineer 4, QA Mgr 2, Scheduler 5, Site Superintendent 3, Subcontract Admin Mgr 3
		
	W	  	Construction Engineer 3, Construction Mgr 1, Cost analyst 4, Designer Project 1, Designer 4, Engineer 4, Estimator 4, Field Engineer 4, Project Controls Cost Scheduling 4, Project Accounting
Mgr 1, Project Controls Mgr 1, Project Engineer 3, Project Mgr 1, Scheduler 4, Site Superintendent 2, Subcontract Admin Mgr 2
		
	V	  	Construction Engineer 2, Construction Field Mgr 3, Consultant 3, EH&S Mgr 1, Engineer 3, Estimator 3, Field Engineer 3, Project Accountant 4, Scientist 4
		
	U	  	Admin Mgr 1, Consultant 6, Consulting Mgr 2-4, Cost Analyst 3, Designer 3, EH&S Specialist 3, Project Controls Cost Scheduler 3, Project Accountant 3, QA Specialist 3
		
	T	  	Construction Engineer 1, Construction Field Mgr 2, Drafter 4, EH&S Specialist 2, QC Mgr 1, Scheduler 3, Subcontract Admin 3
		
	S	  	CAE Analyst 2, Construction Tech Support 4, Consultant 5, Cost Analyst 2, Estimator 2, Field Engineer 1, Project Accountant 2, QA Specialist 2, Scientist 3, Technician 4
		
	R	  	Designer 2, Drafter 3, Engineer 2, Materials Management 1, Project Controls Scheduler 2, QC Coordinator 2, Subcontract Admin 2
		
	Q	  	Admin Exec Assistant 4, EH&S Specialist 1, Scientist 2, Subcontract Administrator 1
		
	P	  	Admin Assistant 3, Consultant 4, Cost Analyst 1, Designer 1, Drafter 2, Engineer 1, Estimator 1, Project Controls Scheduler 1, Project Accountant 1, QC Coordinator 1, Technician
3
		
	O	  	Admin Assistant 2, Estimating Clerk 2, QC Tech 3, Sourcing Clerk 3, Subcontract Assistant 2, Technician 2
		
	N	  	Admin Assistant 1, Clerical Assistant 2, Drafter 1, Project Controls Assistant 1, Subcontract Assistant 1, Technician 1
		
	M	  	Clerical Assistant 1, Records Mgmt Specialist 1-2, Student CO-OP/Intern

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 77 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  

			
	 Rate Classification Schedule
 Hoku Materials Polysilicon
Plant
 Pocatello, Idaho
	 	

  
 Notes: 
  

	 	1.	The above are based (W-2) rates valid through December 31, 2007. 

  

	 	2.	The above rates are for all time expended by Stone & Webster and affiliated company personnel in performance of the Work or while traveling related to the Work and are
based on a 9/80 work week. 

  

	 	3.	Overtime authorized by the client will be paid on straight time rates for all exempt employees and on a one and one-half (1 1/2 ) times the regular hourly rates for all
non-exempt employees 

  

	 	4.	The job descriptions above are representative of the positions in each of our current Position Classification Codes. 

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 78 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 ADDENDUM 1 TO EXHIBIT D 
 This Addendum 1 to Exhibit D of the Engineering, Procurement and
Construction Management Agreement dated as of August 7, 2007, between HOKU MATERIALS, INC. and STONE & WEBSTER, INC. (the “Agreement”), to which this Addendum is attached is hereby incorporated into the
Agreement. Capitalized terms not otherwise defined herein are defined in the Agreement. 
 As an incentive for Contractor to perform to meet the tight
construction schedule, and to minimize cost to Owner, Contractor shall be paid the following fees, which are in addition to those outlined in Exhibit D. 
 Total Cost Incentive 
 The total installed cost (TIC) target for Owner to complete the Project is $260 million. The TIC shall include all costs
incurred by Owner in the construction of the Project including procured material and equipment and cost of other contractors performing work on the Project, and all fees, costs and expenses incurred in accordance with Contractor’s Work pursuant
to Sections 1 and 2 of Exhibit D, all of Contractor’s Work, and all incentive payments that may be paid to Contractor pursuant to this Addendum 1. The TIC shall specifically exclude “soft costs” incurred by Owner, which shall include,
but not be limited to, interest expense, loan fees, legal fees, and labor costs incurred by Owner. The TIC and Target Price shall be adjusted pursuant to ARTICLE 6.3 and ARTICLE 8 of the Agreement for any approved Change Orders plus the following:

  

	•	 	 Increase in foreign exchange costs that actually increase the TIC or Target Price of the Project 

  

	•	 	 All taxes, duties, or other Government imposts not reasonably foreseeable that actually increase the TIC or Target Price of the Project

  

	•	 	 All increases in transportation costs that are not reasonably foreseeable and that actually increase the TIC or Target Price of the Project

  

	•	 	 All increases in costs of insurance for the Project that are not reasonably foreseeable and actually increase the TIC or Target Price of the Project

  

	•	 	 All costs or delays which results from an event of Force Majeure or Owner acts and omissions 

  

	•	 	 Any increases in equipment costs above the original budget 

  

	•	 	 The cost of theft and/or vandalism not recoverable from insurance and not due to the negligent or reckless acts of Contractor, or Contractor’s failure to
secure and protect the Project from theft and vandalism 

 In the event Owner’s TIC is less than the target TIC, as adjusted herein,
Contractor shall be entitled to a Cost Incentive equal [*] of the savings, up to a maximum incentive to Contractor of [*]. 
 In the event that the cost of
Contractor’s Work is less than $41,500,000 (“Target Price”), Contractor shall be entitled to an additional Cost Incentive equal to [*] of the savings, up to a maximum incentive of [*]. 
 Schedule Incentive 
 Based upon equipment lead time, construction and
permitting, the date for Substantial Completion (as defined in the Agreement) is May 31, 2009 (the “Substantial Completion Date”). However, it is Owner’s desire to achieve the Preliminary Reactor Installation (as
defined on Exhibit B to the Agreement) by October 31, 2008 (the “Preliminary Reactor Installation Date”), the Mechanical Completion (as defined 

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 79 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 
on Exhibit B to the Agreement) by January 31, 2009 (the “Mechanical Completion Date”). In the event the
Preliminary Reactor Installation, the Mechanical Completion or the Substantial Completion shall occur on or before the respective dates set forth above, Contractor shall be entitled to a “Schedule Incentive” equal to [*] for each such
milestone. However, after the date of each such completion date, the applicable Schedule Incentive shall be reduced by [*] per day for every day the Preliminary Reactor Installation, the Mechanical Completion or the Substantial Completion, as
applicable, is not achieved. However, in no event shall the Schedule Incentive be reduced below zero. The scheduled completion dates outlined above shall be adjusted pursuant to ARTICLE 6.3 of the Agreement and pursuant to ARTICLE 8 of the Agreement
for any approved Change Orders 
 It is understood by both Parties that the TIC, Target Prcie, and Schedule Incentives outlined above are only intended to
provide an incentive for Contractor to put forth extra efforts to minimize Project costs and meet the Contract Time Schedule. In no event, however, does Contractor represent or warrant to Owner that the TIC, Target Price, or the Contract Time
Schedule will be achieved, and Contractor shall be paid for the Work pursuant to the Agreement regardless of the actual results of the TIC, Target Price, and/or Contract Time Schedule. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit D to Engineering, Procurement & Construction Management Agreement 
 (Page 80 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 EXHIBIT E 
 CONSENT AND AGREEMENT 
 This CONSENT AND AGREEMENT, dated as of [            ], 2007 (as amended, restated, supplemented or
otherwise modified from time to time, this “Consent”), is entered into by and among [            ], a
[            ] (together with its successors and assigns, the “Contracting Party”), HOKU MATERIALS, INC., a Delaware corporation (together with its successors and assigns,
the “Borrower”), and [            ], in its capacity as Collateral Agent for the Secured Parties (as defined below) (together with its successors, designees and assigns in
such capacity, the “Agent”) under the Intercreditor Agreement (as defined below). 
 RECITALS 
 A. The Borrower has entered into a Credit Agreement, dated as of [            ], 2007 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among the Borrower, the financial institutions from time to time parties thereto as lenders, and
[            ], as administrative agent (the “Administrative Agent”). 
 B. The
Contracting Party has entered into [            ], dated as of [            ], 2007, (as amended, restated,
supplemented or otherwise modified from time to time, the “Contract”), with the Borrower. 
 C. The Borrower intends to finance certain costs in
connection with the development, construction, operation, maintenance and ownership of a polysilicon producing processing plant with a nominal capacity of 2,000 metric tons per year, located in Pocatello, Idaho (the “Project”), with funds
borrowed by the Borrower pursuant to the terms of the Credit Agreement. 
 E. As collateral security for all obligations of the Borrower to the Secured
Parties (as defined below), the Borrower has, inter alia, assigned all of its rights, title and interest (the “Assigned Interests”) in, to and under the Contract to the Agent pursuant to a Security Agreement, dated as of
[            ], 2007 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”), made by the Borrower in favor of the Agent for
the benefit of certain secured parties described therein (the “Secured Parties”) and in that certain Collateral Agency and Intercreditor Agreement, dated as of
[            ], 2007 (as amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among the Borrower, Hoku Materials
Holdings, Inc., the Agent, the Administrative Agent, the Contracting Party and the other Secured Parties party thereto. 
 F. Pursuant to the terms of the
Intercreditor Agreement, the Secured Parties have appointed the Agent as collateral agent on their behalf and authorized the Agent to take certain actions and exercise such powers under the Secured Obligation Documents (as defined in the
Intercreditor Agreement) as are provided for therein. 
 G. The Borrower has requested that the Contracting Party and the other parties hereto execute and
deliver this Consent in fulfillment of certain obligations of the Borrower under the Credit Agreement. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 81 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 AGREEMENT 

 NOW, THEREFORE, in consideration of the foregoing premises and for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1. Consent and Agreements. 
 (a) Subject to the terms and conditions of this Consent, the Contracting Party acknowledges and consents to the assignment as collateral security to the Agent, for the
benefit of the Secured Parties, of the Assigned Interests. The Contracting Party further acknowledges the right of Agent or any designee of Agent, in exercise of Agent’s rights and remedies as a secured creditor of Borrower, to make all
demands, give all notices, take all actions and exercise all rights of Borrower under the Contract. 
 (b) The Agent shall be entitled (but not obligated) to
cure any defaults of the Borrower under the Contract in accordance with the provisions hereof. Upon receipt by the Contracting Party of written notice from the Agent, the Contracting Party agrees to (i) accept such cure by the Agent and,
subject to the terms and conditions of the Contract and cure of such defaults, to render to the Secured Parties all performance due by it under the Contract and this Consent, and (ii) act solely on the instructions of the Agent, not the
Borrower, with respect to the exercise of the Borrower’s rights under the relevant Contract. The Contracting Party agrees to make all payments to be made by it under the Contract directly to the Agent for the benefit of the Secured Parties upon
receipt of the Agent’s written instructions to do so and any such payments made to the Agent by the Contracting Party shall be deemed to have been made by the Contracting Party in fulfillment of the Contracting Party’s obligations to the
Borrower under the Contract. 
 (c) In all cases except as provided in the Contract or required by law, and in accordance with Section 1(e) hereof, the
Contracting Party will not, without the prior written consent of the Agent (such consent not to be unreasonably withheld), (i) cancel or terminate the Contract or suspend performance of its services thereunder, or consent to or accept any
cancellation, termination or suspension thereof by the Borrower, (ii) amend the Contract [NOTE: Exceptions will be limited to Change Orders otherwise permitted under the Agreement], or (iii) sell, assign or otherwise dispose (by operation
of law or otherwise) of any part of its rights, title or interest in the Contract. The Borrower agrees to deliver copies of all notices of default, notices of the suspension of performance by Contracting Party, notices of force majeure or requests
for change orders delivered by Contracting Party to Borrower under or pursuant to the Contract to the Agent promptly upon delivery thereof. 
 (d) The
Contracting Party will not terminate or suspend performance of the Contract on account of any default or breach of the Borrower thereunder without written notice to the Agent and first providing to the Agent (i) 30 days from the date notice of
default or breach is delivered to the Agent to cure such default if such default is the failure to pay amounts to the Contracting Party which are due and payable under the Contract, or (ii) a reasonable period, but not fewer than 60 days, to
cure such breach or default if the breach or default cannot be cured by the payment of money to the Contracting Party so long as the Agent, the Borrower or their respective designee shall have commenced to cure the breach or default promptly
following such notice and in any case within such 60-day period and thereafter diligently pursues such cure to completion (but in any event within not more than 120 days) and during such cure period performs all monetary obligations under the
Contract and all other obligations under the Contract are performed by the Borrower or the Agent or their respective designees. For the avoidance of doubt and solely for the purposes of the preceding sentence, amounts not paid and subject to a
dispute in good faith by the Borrower shall not be deemed to be a payment default. The Contracting Party shall not hinder the Agent’s or its designees’ efforts, and shall provide reasonable cooperation to the Agent and its designees, in
effecting any cure of any default or breach of the Borrower under the Contract. Except in the event of a payment default under the Contract, if possession of the Project is necessary to cure such breach or default, and the Agent or its designees or
assignees declares the Borrower in default under the Credit Agreement and within the 60-day period described above commences foreclosure proceedings, the Agent 

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 82 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 
or its designees or assignees shall be allowed a reasonable period to complete such proceedings so long as (A) the Agent proceeds diligently and in good
faith to do so and during such period performs all monetary obligations under the Contract, and (B) all other obligations under the relevant Contract are performed by the Borrower or the Agent or their respective designees. If the Agent or its
designees or assignees are prohibited by any court order or bankruptcy or insolvency proceedings from curing the default or from commencing or prosecuting foreclosure proceedings, the foregoing time periods shall be extended by the period of such
prohibition so long as (1) the Agent proceeds diligently and in good faith to address such impediments and during such period performs all monetary obligations under the Contract, and (2) all other obligations under the Contract are
performed by the Borrower or the Agent or their respective designees. The Contracting Party consents to the transfer of the Borrower’s interest under each Contract to the Agent or any purchaser, successor, assignee and/or designee (a
“Subsequent Transferee”) of the Assigned Interests at a foreclosure sale by judicial or nonjudicial foreclosure and sale or by a conveyance by the Borrower in lieu of foreclosure and agrees that, notwithstanding any provision of the
Contract to the contrary, upon such foreclosure, sale or conveyance, the Agent or such Subsequent Transferee shall be substituted for the Borrower under the Contract and the Contracting Party (a) shall recognize the Agent or the Subsequent
Transferee, as the case may be, as its counter-party under the Contract, and (b) perform its obligations under the Contract in favor of the Agent or the Subsequent Transferee, as the case may be; provided that the Agent or such Subsequent
Transferee (i) has elected to assume the rights and obligations of the Borrower (including the obligation to cure any then existing payment and performance defaults, but excluding any obligation to cure any then existing performance defaults
which by their nature are incapable of being cured and which default that is incapable of being cured does not materially and adversely affect the rights of the Contracting Party under the Contract) under the Contract, and (ii) would reasonably
be expected to have the capability to perform the Borrower’s obligations under the Contract. 
 (e) Subject to payment of all amounts due and unpaid to
the Contracting Party and cure of all then existing payment and performance defaults, but excluding any obligation to cure any then existing performance defaults which by their nature are incapable of being cured and which default that is incapable
of being cured does not materially and adversely affect the rights of the Contracting Party under the Contract, in the event the Contract is rejected or terminated by a trustee or debtor in possession in any bankruptcy or insolvency proceeding, or
if the Contract is terminated for any reason other than a default which could have been but was not cured by the Agent as provided in Section 1(e) hereof, and if, within 45 days after such rejection or termination, the Agent shall so request,
the Contracting Party shall execute and deliver to the Agent a new Contract having substantially identical terms to the Contract (subject to any conforming changes necessitated by the substitution of parties and such changes as may be necessary to
compensate the Contracting Party for schedule and cost adjustments resulting from the passage of time). 
 (f) In the event the Agent or its designees or
assignees elect to perform the Borrower’s obligations under a Contract or a new Contract is entered into as provided above in Sections 1(e) or (f), respectively, the liability of the Agent, or its designees or assignees, as the case may be, to
the Contracting Party for the performance of obligations under such Contract, and the sole recourse of the Contracting Party in seeking the enforcement of such obligations, shall be limited to such parties’ rights, title and interest in the
Project. 
 (g) Except as provided in Sections 1(e), (f) and (g) above, neither the Agent, its designees or assignees shall have any obligation or
liability under the Contract, nor shall the Agent, its designees or assignees be obligated to perform any of the obligations or duties of the Borrower under the Contract or to take any action or collect or enforce any claim for payment or
performance of the Assigned Interests. 

  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 83 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 
Within 30 or 60 days, as the case may be pursuant to Section 1(e), of being notified by the Contracting Party that a Borrower default or breach has
occurred under the Contract, the Agent shall notify the Contracting Party of its intent whether or not to cure any such Borrower default or breach. In the event the Agent fails to notify the Contracting Party within the time period described in the
foregoing sentence that the Agent will cure such default or breach, the Contracting Party shall be entitled to assume that the Agent has elected not to cure such default or breach and the Contracting Party may then exercise all rights that the
Contracting Party would have under the Contract, without regard to the provisions of this Consent. In the absence of such notice, no performance by the Agent, its designees or assignees under or pursuant to this Consent or otherwise (whether to cure
a Borrower default or exercise rights under any provision hereof or otherwise) shall be construed as an assumption by the Agent, its designees or assignees of the obligations and duties of the Borrower under the Contract, unless otherwise expressly
agreed in writing by the Agent, its assignees or designees, as the case may be. The Agent shall have the right to assign all or a pro rata interest in a Contract or a new Contract entered into pursuant to Section 1(f) to a person or entity to
whom the Project is transferred, provided such transferee (i) assumes the obligations of the Borrower (or the Secured Parties) under such Contract and cure of any material defaults under such Contract has been effected as provided herein, and
(ii) would reasonably be expected to have the capability to perform the Borrower’s obligations under such Contract. Upon such assignment, the Agent and the Secured Parties (including their agents and employees) shall be released from any
further liability thereunder to the extent of the interest assigned. 
 2. Borrower’s Acknowledgment. The Borrower acknowledges and agrees that the
Contracting Party is authorized to act in accordance with the Agent’s exercise of the Borrower’s rights in accordance with this Consent, and the Contracting Party may rely on any notice or instruction by the Agent in the purported exercise
of the Agent’s rights and remedies hereunder. 
 3. Legal Opinion. The Contracting Party hereby agrees to deliver to the Agent a legal opinion (which
may be from a senior in-house counsel), dated as of the dated hereof, substantially in form attached hereto as Addendum 1. 
 4. Payment of Monies. The
Contracting Party hereby agrees to make all payments to be made by it to the Borrower under the Contract by wire transfer directly to: 
 (a) for all
payments not covered by clause (b) hereof: 
 [                                  ] 
 ABA
[                        ] 
 [                                  ]

 Account Number: [            ] 
 FFC: Account No. [            ] 
 REF: [Hoku Materials] Revenue Account; or 
 (b) for all
payments of liquidated damages and insurance proceeds: 
 [                              ] 
 ABA [                    ] 
 [                              ] 
 Account Number: [            ] 
 FFC: Account No. [            ] 
 REF: [Hoku Materials] Loss Proceeds Account, 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 84 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 and any notices
to [Depositary Bank] may be given to 
 the following address: 
 [                        ] 
 [                        ]

 [                        ] 
 [                        ] 
 Attn:
[                            ] 
 Telephone:
[                            ] 
 Facsimile:
[                            ] 
 Notwithstanding the foregoing, (i) if the Agent shall notify the Contracting Party in writing that an Event of Default under the Credit Agreement has occurred and is continuing, the Contracting Party shall make
all payments to be made by it to the Borrower under the Contract directly to the Agent, for the benefit of the Secured Parties, to an account designated by the Agent in such written notice, and (ii) if any person has elected to become a
Subsequent Transferee, then the Contracting Party shall make all payments to be made by it to the Borrower under the Contract directly to such Subsequent Transferee. Any payments made by the Contracting Party as provided under this Section 4
shall be deemed to have been made by the Contracting Party in fulfillment of the Contracting Party’s obligations under the Contract. 
 5.
Representations and Warranties. The Contracting Party hereby represents and warrants, for the benefit of the Agent and the Secured Parties, as of the date hereof, that: 
 (a) it (i) is duly organized, validly existing and in good standing under the laws of [            ], and (ii) has all requisite
organizational power and authority necessary to execute, deliver and perform its obligations under this Consent and the Contract; 
 (b) the execution,
delivery and performance by the Contracting Party of the Contract and this Consent have been duly authorized by all necessary corporate action, and do not and will not require any further consents or approvals which have not been obtained, or
violate any provision of any law, regulation, order, judgment, injunction or similar matters or breach any agreement presently in effect with respect to or binding on the Contracting Party, except for such breaches, defaults, or violations as will
not, either individually or in the aggregate, result in a material adverse effect on the ability of the Contracting Party to perform its obligations under this Consent or the Contract; 
 (c) each of this Consent and the Contract constitutes legal, valid and binding obligations of the Contracting Party, enforceable against the Contracting Party in accordance with their respective terms, except to the
extent that enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting the enforcement of creditors’ rights or by the effect of general equitable principles (regardless of
whether such enforceability is considered in a proceeding in equity or at law); 
 (d) no authorizations, approvals or consents of any governmental or
regulatory authority or agency or any other person, and no filings or registrations with any governmental authority or agency, are necessary for the execution, delivery or performance by the Contracting Party of this Consent, or for the validity or
enforceability thereof, except for any authorizations, approvals, consents or filings which (i) have been made or obtained prior to the date hereof and are in full force and effect, or (ii) are obtainable in the ordinary course of business
and are set forth on Addendum 2 to this Consent; 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 85 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 (e) except pursuant to this
Consent and as expressly set forth in the Contract, the Contracting Party has not consented to any pledge, assignment or other transfer of any interest in the Contract; 
 (f) the Contract is in full force and effect and has not been amended, supplemented or modified (except as otherwise disclosed in writing to the Agent); and 
 (g) the Borrower has fulfilled all of its material obligations which are currently due under the Contract, and there are no breaches or unsatisfied conditions presently
existing (or which would exist after the passage of time and/or giving of notice) that would allow the Contracting Party to terminate the Contract. 
 6.
Limitation of Liability. The Contracting Party shall have no liability under this Consent to the Borrower. With respect to any undertaking by the Contracting Party which is susceptible to enforcement by specific enforcement as described in
Section 7, where the Agent would receive the full benefit of this Consent through such specific performance, the Agent shall limit its remedy to specific performance. With respect to any other undertaking, acknowledgment, representation and
warranty or other provision of this Consent, the Agent’s remedies shall not be so limited, provided that the Agent and the Borrower agree that the Contracting Party’s aggregate liability for monetary damages under this Consent and the
Contract shall be limited as provided in the Contract. Under no circumstances shall the Contracting Party have any liability for any punitive, exemplary, consequential, indirect, incidental, or special damages (including by way of example, but not
by way of limitation, loss of profits, nonpayment of principal or interest on loans, and cost of capital under the Credit Agreement). 
 7. Specific
Performance. The Contracting Party acknowledges and agrees that the Borrower, the Agent, the Secured Parties and any Subsequent Transferee may be damaged irreparably in the event any of the provisions set forth in Sections 1 and 4 of this Consent
(the “Applicable Provisions”) are not performed in accordance with their specific terms or are otherwise breached. Accordingly, the Contracting Party agrees that the Borrower, the Agent and/or any Subsequent Transferee may seek to enforce
specifically this Consent and the Applicable Provisions in any action instituted in any court of the United States or any state thereof having jurisdiction over the parties hereto and the matter hereof (subject to the provisions set forth in
Section 9), in addition to any other remedy to which it may be entitled, at law or in equity. 
 8. Governing Law. This Consent shall be governed by,
and construed and interpreted in accordance with, the laws of the State of New York, United States of America, excluding its conflicts of law provisions (other than Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York).

 9. Submission to Jurisdiction. The parties hereto submit to the nonexclusive jurisdiction of the United States District Court for the Southern District of
New York and of any New York State court sitting in New York City for purposes of all legal proceedings arising out of or relating to this Consent or the transactions contemplated hereby. Each of the parties hereto irrevocably waives, to the fullest
extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient
forum. 
 10. Counterparts. This Consent and any amendments, waivers, consents or supplements hereto or in connection herewith may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages
may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 86 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 11. Severability. In case any
one or more of the provisions contained in this Consent should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 12. Amendment, Waiver. Neither this Consent nor any of the terms hereof may be terminated, amended, supplemented, waived or modified except by an
instrument in writing signed by the Contracting Party, the Borrower and the Agent. 
 13. Notices. All notices required or permitted hereunder shall be in
writing and shall be effective (a) upon receipt if hand delivered, (b) upon receipt if sent by facsimile and (c) if otherwise delivered, upon the receipt thereof. Any such notices to the Contracting Party or the Borrower shall be
delivered to their respective addresses as specified in the Contract. Any such notices to the Agent shall be addressed as follows: 
 [                            ] 
 [                            ] 
 [                            ] 
 Attn: [                            ] 
 Telephone No.:
[                            ] 
 Telecopy No.: [                            ] 
 If any notice is tendered to an addressee and the delivery thereof is refused by such addressee, such notice shall be effective upon such tender. Any party shall have
the right to change its address for notice hereunder to any other location within the continental United States by providing 30 days’ notice to the other parties in the manner set forth hereinabove. 
 14. Third Party Beneficiaries. This Consent and the representations, covenants and agreements contained herein are and shall be held to be for the sole benefit of the
parties hereto and the Secured Parties, and their respective successors and assigns. 
 15. Interpretation. All references in this Consent to any document,
instrument or agreement (a) shall include all exhibits, schedules and other attachments thereto, and (b) shall include all documents, instruments or agreements issued or executed in replacement thereof in accordance with the terms thereof.

 [SIGNATURE PAGE FOLLOWS] 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 87 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 IN WITNESS WHEREOF, the parties
hereto, by their officers duly authorized, intending to be legally bound, have caused this Consent and Agreement to be duly executed and delivered as of the date first above written. 
 HOKU MATERIALS, INC, 
 By: 
 Name: 
 Title: 
 [                                      
  ] 
 By: 
 Name: 
 Title: 
 [                            ], 
 as Agent for the Secured Parties 
 By: 
 Name: 
 Title: 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 88 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 ADDENDUM 1 TO EXHIBIT E 
 FORM OF OPINION OF CONTRACTING PARTY’S COUNSEL 
 [Letterhead of
                            ] 
         [Date] 
 [Agent] 
 [                        ] 
 [                        ] 
 [                        ] 
 Ladies and Gentlemen: 
 [We/I] have acted as counsel for
[                    ], a
[                    ] (the “Company”), in connection with that certain [Contract and Consent] (collectively, the
“Contracts”). Capitalized terms used and not otherwise defined herein shall have the respective meanings specified in the Consent. 
 This letter is being delivered to you in satisfaction of the condition set forth in Section 3 of the Consent. 
 In this
connection, [we/I] have examined such certificates of public officials, certificates of officers of the Company and copies certified to [our/my] satisfaction of corporate documents and records of the Company and of other papers, and have made such
other investigations, as [we/I] have deemed relevant and necessary as a basis for [our/my] opinions hereinafter set forth. [We/I] have relied upon such certificates of public officials and of officers of the Company with respect to the accuracy of
material factual matters contained therein which were not independently established. 
 Based on the foregoing, it is [our/my] opinion that:

 1. The Company is a corporation duly incorporated and validly existing in good standing under the laws of
[            ]. 
 2. The Contracts have been duly authorized by all
requisite corporate action and duly executed and delivered by authorized officers of the Company, and are valid obligations of the Company, legally binding upon and enforceable against the Company in accordance with their respective terms, except as
such enforceability may be limited by (a) bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally, and (b) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 
 3. The execution and delivery of the Contracts, and fulfillment of and
compliance with the respective provisions of the Contracts, do not conflict with, or result in a breach of the terms, conditions or provisions of, or constitute a default under, or result in any violation of, or result in the creation of any lien
upon any of the properties or assets of the Company pursuant to, or require any authorization, consent, approval, exemption, or other action by or notice to or filing with any court, administrative or governmental body or other person or entity
pursuant to, the charter or by-laws of the Company, any applicable law, statute, rule or regulation or (insofar as is known to us after having made due inquiry with respect thereto) any agreement, instrument, order, judgment or decree to which the
Company is a party or otherwise subject. 
 Very truly yours, 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 89 of 90) 

 Execution Copy 
 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS AMENDED. 
  
 ADDENDUM 2 TO EXHIBIT E 
 AUTHORIZATIONS AND APPROVALS 
 [Contracting Party to provide, if any] 
  

					
	CONTRACTOR INITIALS & DATE: /s/ SNR 8/7/07    	  		  	OWNER INITIALS & DATE: /s/ DS 8/7/07    

 Exhibit E to Engineering, Procurement & Construction Management Agreement 
 (Page 90 of 90)

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