Document:

Exhibit 10.4

	
  CONFIDENTIAL
  TREATMENT REQUESTED

  
	
  —

  
	
  CONFIDENTIAL
  PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED
  WITH THE SECURITIES AND EXCHANGE COMMISSION

  

LONG-TERM
SUPPLY AGREEMENT II

 

HEMLOCK SEMICONDUCTOR
CORPORATION, a Michigan corporation with its principal place of business at
12334 Geddes Road, Hemlock, Michigan 48626 (“HSC”), and SunPower Corporation, a
United States corporation with its principal place of business at 3939 North
First Street, San Jose, California 95134 (“Buyer”) hereby enter into this
Long-Term Supply Agreement (the “Agreement”) effective as of the date of Buyer’s
execution of this Agreement (the “Effective Date”).

WHEREAS, Buyer desires to
purchase and HSC agrees to sell Products (herein defined) pursuant to the terms
and conditions of this Agreement.

NOW, THEREFORE, the
parties agree as follows:

1.                                       Products. As used in
this Agreement, “Product” or “Products” shall mean the polycrystalline silicon
manufactured by HSC. The specifications for the Product are set forth in Exhibit A, as such
specifications may be amended from time to time by mutual written
agreement of the parties (the “HSC Product Specifications”). Subject only to
the following two exceptions, Buyer shall utilize the Products for its manufacturing
purposes and shall not, without the prior written consent of HSC, re-sell the
Products, or become a re-seller or distributor of the Products; said consent as to any options of Buyer shall not be unreasonably
withheld or delayed unless said options are likely to have a negative impact on
HSC’s financial performance. Exceptions: (1) Buyer may re-sell or
distribute the Products without prior written consent of HSC to wholly-owned or
majority owned subsidiaries (hereinafter together with Buyer referred to as the
“SunPower Group”; (2) Buyer may re-sell or distribute the Products without
prior written consent of HSC to such enterprises that have entered into supply
agreements with the SunPower Group for the sole purpose of producing ingots
and/or wafers for the exclusive use of the SunPower Group. Buyer will notify
HSC of the conclusion of such supply agreements and upon Buyer’s request HSC
may, at its discretion, agree to drop-ship Products to such enterprises for the
purpose cited above.

2.                                       Non-Refundable Advance
Payment. Buyer
agrees to make a non-refundable, unconditional, irrevocable advance payment in
the amount of $113,220,000.00 (the “Advance Payment”). One-third
($37,740,000.00) of the Advance Payment shall be paid on or before October 4,
2007, One-third ($37,740,000.00) of the Advance Payment will be paid on or
before October 4, 2008, and One-third ($37,740,000.00) of the Advance Payment
will be paid on or before October 4, 2009. Except as set forth in Section 15,
Buyer expressly acknowledges its understanding and agrees that, once this
Agreement is executed, there are no circumstances or occurrences that will
require HSC to refund to Buyer all or any portion of the Advance Payment other
than HSC’s failure to deliver the Products to which the Advance Payment
relates, as set forth in Section 9. The Advance Payment shall be applied as a
credit against the price of the Products that Buyer is required to

 

 

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purchase, and HSC is required to supply, under this Agreement at the
times and in the amounts shown on Exhibit B.

3.                                       Price
and Quantity; Purchase Orders.

(a)                                  Price
and Quantity.                                      For the time
period January 1, 2010 through December 31, 2019, HSC agrees to sell and Buyer
agrees to purchase Products pursuant to the terms and conditions of this
Agreement. The price and quantity of Products to be purchased by Buyer is as
set forth in Exhibit B. As set forth in Exhibit
B, Buyer retains the discretion to select among the Products listed to fulfill
its annual quantity commitments. Unit prices for shipment of Product are FCA
Hemlock, Michigan (Incoterms 2000). Subject only to the price adjustments set
forth in Section 4, these prices are fixed for the term of this Agreement. Buyer may require an audit of the HSC’s supporting
documentation validating the price adjustments permitted under Exhibit B. Any such audit shall be conducted by a qualified
independent third party who shall be granted access, under a confidentiality
agreement, to all relevant documentation it reasonably requests for such
verification. Any such audit shall be paid for by Buyer.

(b)                                 Purchase
Orders.
The parties acknowledge their standard practice in which Buyer, in connection
with fulfilling its purchase commitment for any given year, periodically issues
purchase orders, and occasionally change orders thereto, for Products
requesting specified quantities, delivery dates and delivery locations. The
parties agree that the provisions of this Section 3(b) create no legal
commitment or obligations with respect to purchase orders or otherwise.

4.                                       Price
Adjustments. HSC may adjust prices on an annual basis to
account for changes in HSC’s cost structure relative to the manufacture of the
Products, including changes relating to electricity, raw materials and the
Employment Cost Index. On January 1 of each year beginning with January 1,
2010, prices may be increased pursuant to the mechanism set forth in Exhibit C.

5.                                       Take
or Pay Agreement. This Agreement is a “take or pay agreement” such
that Buyer is absolutely and irrevocably required to accept and pay for the
contracted volume of Products per year over a 10-year period at the prices set
forth in Exhibit B, subject to the adjustments described in Section 4 above. In the
event that Buyer fails to order and take delivery of its contracted volume in a
given year, HSC shall invoice Buyer for the differential at full contract price
and Buyer will pay the same within 30 days of invoice date. Buyer specifically
acknowledges and accepts that it will be liable for the full purchase price of
volume differential between the quantity ordered and the contracted volume.

6.                                       Payment. Payment terms
are net 30 days from the date of the invoice. Finance charges of ***% per month
(***% per annum) may be assessed on payment past due from the payment due date
to the date payment is received. Failure to pay

 

 

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***                           CONFIDENTIAL MATERIAL REDACTED AND
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invoices when due or finance charges when assessed may result in
delayed or cancelled shipments. No unauthorized deductions from invoices are
permitted.

7.                                       Title
and Risk of Loss. Buyer shall purchase the Products from HSC FCA
Hemlock (Incoterms 2000) with title and risk of loss with respect to all
Products passing to Buyer when the goods have been delivered to the carrier at
Hemlock, Michigan.

8.                                       Term. The term of
this Agreement shall be from the Effective Date through December 31, 2019 (the “Initial
Term”). The Agreement may not be terminated during the Initial Term, except as
expressly set forth in Section 10.

9.                                       Manufacturing
Facility.               Buyer
acknowledges that HSC will be expanding its manufacturing facilities (the “Expanded
Manufacturing Facility”) in order to produce the Products to be supplied under
this Agreement. The estimated completion date for 50% of the manufacturing facility
capacity is January 1, 2010, with estimated capacity of 75% completed on
January 1, 2011, and 100% of estimated capacity completed on January 1, 2012. Buyer
acknowledges the possibility of delays in completing the manufacturing facility
and expressly agrees that, so long as 50% of the manufacturing capacity
commences production by June 30, 2010, HSC SHALL HAVE NO LIABILITY TO BUYER FOR
ANY SUCH DELAY.  The parties further
agree to the following liquidated damages formula as Buyer’s sole and exclusive
remedy and damages for delays beyond June 30, 2010:

Liquidated Damages
Calculation: $*** multiplied by the number of months delayed
beyond June 30, 2010 (pro-rated for partial months). The total liquidated
damages shall not exceed the amount of Buyer’s Advance Payment.

HSC
agrees that the Expanded Manufacturing Facility shall be subject to bi-annual
inspections by Buyer. Said inspections shall be subject to HSC’s
confidentiality and security policies for site visits. Any fees and costs
associated with such inspection shall be borne by Buyer.

10.                                 Termination. Buyer
understands and acknowledges that HSC is making substantial capital investments
to expand its manufacturing capabilities in order to satisfy Buyer’s demand for
the Products. The parties acknowledge it is their express intent that Buyer is
obligated to purchase the contracted volumes over the Initial Term of this
Agreement. Accordingly, the basis and circumstances under which the parties can
terminate this Agreement prior to the expiration of the Initial Term of this
Agreement is expressly limited to the terms of this Section 10.

(a)                                  Termination by
Buyer. Buyer may, at its option, terminate this Agreement only upon the
occurrence of all of the following events: (i)(1) once production of Products
has commenced at the Expanded Manufacturing Facility, a failure by HSC to
deliver the contracted amount of Products properly ordered by

 

 

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3

 

Buyer or (2) other material
breach of this Agreement by HSC other than (A) HSC’s failure to complete the
Expanded Manufacturing Facility (which shall be addressed solely by the
provisions of Section 9) and (B) a material breach triggered by a Force Majeure
Event (which shall be solely addressed in Section 19), (ii) service of written
notice of such failure to HSC, and (iii) a failure by HSC to cure such delivery
deficiency or material breach within ninety (90) days of receipt of the written
notice of such event. If HSC rectifies any such failure of delivery or material
breach within such period, then HSC’s deficiency of performance shall be deemed
cured and Buyer shall not be entitled to terminate this Agreement.

(b)                                 Termination by
HSC. HSC may, at its option, terminate this Agreement only upon the
occurrence of all of the following events: (i) in the event of a failure to pay
(other than a failure to pay triggered by a Force Majeure Event which shall be
solely addressed in Section 19) or other material breach of this Agreement by
Buyer, (ii) service of written notice of such failure to Buyer, and (iii) a
failure by Buyer to cure such breach within ninety (90) days after receipt of
written notice of such breach. If Buyer rectifies any such payment failure or
material breach within such period, then Buyer’s deficiency of performance
shall be deemed cured and Buyer shall not be entitled to terminate this
Agreement. In the event of a termination due to Buyer’s breach, in addition to
any other damages that can be established by HSC, Buyer shall be liable to HSC
for the purchase price of Products as set forth in Exhibit B.

11.                                 Confidentiality. The parties
acknowledge and agree that the terms of this Agreement and certain information
exchanged between them pertaining to this Agreement, including information
regarding research, technology, product developments, marketing plans or
conditions, products, business strategies, and the like, constitutes “Confidential
Information” of the party disclosing the information. The purpose of the
exchange of the Confidential Information” is to allow the parties to meet their
obligations and responsibilities under this Agreement. During the term of this
Agreement, and for a period of 15 years following its termination or
expiration, except as required by applicable law, regulation or rules of any
securities exchange, the party receiving any Confidential Information, and its
employees, attorneys, financial advisors, officers, directors and shareholders
who shall receive such Confidential Information shall not, except with the
prior written consent of the disclosing party, use, divulge, disclose or
communicate, to any person, firm, corporation or entity, in any manner
whatsoever, the terms of this Agreement or any Confidential Information of the
disclosing party; provided, however, that each party may use, divulge, disclose
or communicate the terms of this Agreement or Confidential Information of the
disclosing party to wholly-owned or majority owned subsidiaries if such
subsidiaries undertake to keep such information strictly confidential in
accordance with this Section 11 and each subsidiary has a “need to know”. The
parties will be liable for any breach of this Section 11 by any of their
respective wholly-owned or majority owned subsidiaries. Each party further
agrees to use the same degree of care to avoid publication or dissemination of
the Confidential Information disclosed to such party under this

 

 

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Agreement
as it employs with respect to its own Confidential Information, but at all
times shall use at least reasonable care to protect against disclosure. Confidential
Information does not and shall not include information that:

(a)                                  was already
known to the receiving party at the time such information is disclosed by the
other party;

(b)                                 was or became
publicly known through no wrongful act of the receiving party;

(c)                                  was rightfully
received from a third party without restriction;

(d)                                 was
independently developed by the receiving party;

(e)                                  was approved
for release by written authorization of the party disclosing such information
under this Agreement; or

(f)                                    was required by
legal or financial reporting purposes to be disclosed; provided, however, that
the party being required to disclose shall, if circumstances permit, provide
advanced notice to the other party and shall allow the other party a reasonable
opportunity to oppose such disclosure, if appropriate.

12.                                 Limited
Warranty. HSC warrants only that, upon delivery, the
Products will meet the HSC Product Specifications, as set forth in Exhibit A (ii) the Products will be delivered free from any
security interest, lien or encumbrance; and (iii) HSC will convey good title to
the Products.

13.                                 Warranty Disclaimer. THIS LIMITED
WARRANTY IS IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING
WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE, SAID WARRANTIES BEING EXPRESSLY DISCLAIMED.

14.                                 Limited Remedy. HSC shall be
given reasonable and prompt opportunity to examine any claim of defect by
Buyer. Buyer agrees that its sole and exclusive remedy against HSC shall be
limited to either, at HSC’s sole discretion, (i) the revision, repair or
replacement of non-conforming or defective Products or (ii) payment not
to exceed the purchase price of the specific Products for which damages are
claimed. This exclusive remedy shall not be deemed to have failed of its
essential purpose so long as HSC is willing to revise, repair or replace the
defective Products, or make the payment described in this Section 14.

15.                                 Damages Limitation. EXCEPT FOR
SITUATIONS INVOLVING (i) A DELAY IN COMPLETION OF THE MANUFACTURING FACILITY AS
DESCRIBED IN SECTION 9 OF THIS AGREEMENT, OR (ii) FOR FAILURE TO DELIVER
PRODUCTS TO WHICH THE ADVANCE PAYMENTS RELATE, AS DESCRIBED IN SECTION 9 OF
THIS AGREEMENT, HSC SHALL NOT BE LIABLE FOR ANY LOSS, DAMAGE, OR INJURY
RESULTING FROM DELAY IN DELIVERY OF THE PRODUCTS, OR FOR ANY FAILURE TO PERFORM

 

 

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WHICH
IS DUE TO A FORCE MAJEURE EVENT (AS DEFINED IN SECTION 19).  EXCEPT FOR
HSC’S INDEMNIFICATION OBLIGATIONS UNDER SECTION 16 AND FOR EITHER PARTY’S
BREACH OF SECTION 11, THE MAXIMUM AGGREGATE LIABILITY OVER THE TERM OF THIS
AGREEMENT, IF ANY, FOR ALL DAMAGES, INCLUDING WITHOUT LIMITATION CONTRACT
DAMAGES AND DAMAGES FOR INJURIES TO PERSONS OR PROPERTY, WHETHER ARISING FROM A
PARTY’S BREACH OF CONTRACT, BREACH OF WARRANTY, NEGLIGENCE, STRICT LIABILITY,
OR OTHER TORT, IS LIMITED TO, IN THE CASE OF HSC, THE REMAINING NET BALANCE OF
THE ADVANCED PAYMENT AS SET FORTH IN EXHIBIT B AND, IN THE CASE OF BUYER, THE
AGGREGATE PRICE FOR THE PRODUCTS COMMITTED TO BE PURCHASED BY BUYER DURING THE
INITIAL TERM AS SET FORTH IN EXHIBIT B.  IN NO EVENT SHALL EITHER PARTY BE
LIABLE TO THE OTHER PARTY FOR ANY INCIDENTAL, CONSEQUENTIAL, OR SPECIAL
DAMAGES, INCLUDING WITHOUT LIMITATION LOST REVENUES AND PROFITS, EVEN IF IT HAS
BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.  THESE LIMITATIONS SHALL
APPLY NOTWITHSTANDING ANY FAILURE OF ESSENTIAL PURPOSE OF THE LIMITED REMEDY
SET FORTH ABOVE.

16.                                 Patents. If any suit
is brought against Buyer for infringement of any United States Letters Patent
alleging that the Products or HSC’s methods of manufacturing them infringe any
United States Letters Patent, HSC shall, at its own expense, defend and control
the suit against these allegations only, and shall pay any award of damages
assessed against Buyer in the suit to the extent only that the damages are
awarded in connection specifically with the alleged infringement, provided that
Buyer gives HSC prompt notice in writing of the institution of the suit and, to
the full extent of Buyer’s power to do so, Buyer permits HSC to defend and
control the suit against these allegations. The above fully expresses Buyer’s
exclusive remedy and HSC’s sole responsibility with respect to infringement of
any patent by the Products, and HSC EXPRESSLY DISCLAIMS ANY OTHER WRITTEN OR
UNWRITTEN, EXPRESS OR IMPLIED WARRANTY AGAINST INFRINGEMENT with respect to the
Products. In no case shall HSC be liable to defend or pay any award of damages
assessed against Buyer to the extent any suit or cause of action alleges that
the nature of Buyer’s use of the Products (or the use of the Products by Buyer’s
customers) infringes any patent.

17.                                 Taxes. Any tax or
other government charge now or in the future levied upon the production, sale,
use or shipment of the Products (except HSC’s income tax obligations) may, at
HSC’s option, be added to the purchase price.

18.                                 Fair Labor Standards Act. HSC hereby
certifies that the Products shall be produced in compliance with the Fair Labor
Standards Act, as amended, and of regulations and orders of the United States
Department of Labor issued under that Act.

19.                                 Force Majeure. HSC shall not
be liable for delays or failures in performance of an order or default in
delivery arising out of or resulting from causes

 

 

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beyond its control. Such causes include, but are not limited to, acts
of God, acts of Buyer, acts of the Government or the public enemy, fire, flood,
epidemics, quarantine restrictions, strikes, freight embargoes, severe weather,
equipment breakage or default of suppliers due to any of such causes (each a “Force
Majeure Event”). In the event of any such delay of HSC’s performance, Buyer
shall honor its obligations hereunder as soon as HSC is able to perform. In
addition, if due to a Force Majeure Event, HSC is unable to produce sufficient
goods to meet all demands from customers and internal uses, HSC shall have the
right to allocate production among its customers and plants in any manner in
which HSC may determine to be equitable.

Buyer
shall not be liable for delays or failures in meeting its payment obligations
as set forth in Section 6, if such failure arises out of or results from causes
beyond its control. Such causes include, but are not limited to, acts of God,
acts of HSC, acts of the Government or the public enemy, fire, flood, epidemic,
quarantine restrictions, strikes, freight embargoes, or severe weather (each a “Force
Majeure Event”). In the event of any such delay of Buyer’s performance, HSC
shall honor its obligations hereunder as soon as Buyer is able to perform.

20.                                 Choice of Law. The Agreement
is made in, and shall be governed and controlled in all respects by the laws of
the State of Michigan, USA (specifically disclaiming the U.N. Convention
Contracts for the International Sale of Goods) and all disputes, including
interpretation, enforceability, validity, and construction, shall be determined
under the law of the State of Michigan, without regard to any conflict of law
provisions.

21.                                 Choice of Forum. The parties
submit to the exclusive jurisdiction and venue of the U.S. District Court for
the Eastern District of Michigan for all disputes arising, directly or
indirectly, under this Agreement.

22.                                 Waiver. Either party’s
failure to exercise a right or remedy or such party’s acceptance of a partial
or delinquent payment shall not operate as a waiver of any of such party’s
rights or the other party’s obligations under the Agreement and shall not
constitute a waiver of such party’s right to declare an immediate or a
subsequent default.

23.                                 Severability. If one or
more of the provisions of this Agreement shall be found, by a court with
jurisdiction, to be illegal, invalid or unenforceable, it shall not affect the
legality, validity or enforceability of any of the remaining provisions of this
Agreement. The parties agree to attempt to substitute for any illegal, invalid
or unenforceable provision a legal, valid or enforceable provision that
achieves to the greatest extent possible the economic objectives of the
illegal, invalid or unenforceable provision.

24.                                 Integration. The Agreement
constitutes the entire understanding between the parties with respect to the
subject matter of the Agreement and supersedes any prior discussions,
negotiations, agreements, memoranda of understanding and the

 

 

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like. Modifications to the Agreement may be made only in writing and
signed by each party.

25.                                 Assignments. No assignment
of the Agreement or of any right or obligation under the Agreement shall be
made by either party without the prior written consent of the other party, said
consent shall not be unreasonably withheld; provided, however, that each party
may assign this Agreement without any such consent to its Affiliates or in
connection with a merger, acquisition, change of control or sale of
substantially all of the assets of the assigning party. As used herein, an “Affiliate”
of a party means any other party controlling, controlled by, or under common
control with, such party. In the event of a proper assignment, the Agreement shall
be binding upon and inure to the benefit of the assigning party’s successors
and assigns.

26.                                 Attorney Fees and Costs. In the event
of HSC’s enforcement of any term or condition in the Agreement, Buyer shall be
liable to HSC for all costs, including attorney fees, incurred by HSC in
enforcing the Agreement and in collecting any sums owed by Buyer to HSC.

27.                                 Dollars. All
references to monetary amounts shall be in U.S. Dollars.

28.                                 Agreement Preparation. This
Agreement shall be considered for all purposes as prepared through the joint
efforts of the parties and shall not be construed against one party or the
other as a result of the manner in which this Agreement was negotiated,
prepared, drafted or executed.

29.                                 Deadline. This
Agreement must be executed and returned to HSC by July 20, 2007. If the
Agreement is not executed and returned to HSC by that date, the Agreement shall
be null and void.

	
  BUYER:

  	
  HSC:

  
	
   

  	
   

  
	
  SUNPOWER CORPORATION

  	
   

  	
  HEMLOCK SEMICONDUCTOR

  
	
   

  	
   

  	
  CORPORATION

  
	
   

  	
   

  
	
  By:

  	
  /s/ THOMAS WERNER

  	
   

  	
  By:

  	
  /s/ GARY R. HOMAN

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Print Name:

  	
  Thomas Werner

  	
   

  	
  Print Name:

  	
  Gary R. Homan

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Chief Executive Officer

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  July 16, 2007

  	
   

  	
  Date:

  	
  July 2, 2007

  	
   

  
							

 

 

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EXHIBIT A

HSC
PRODUCT SPECIFICATIONS

***

 

 

 

 

 

 

 

 

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  Calendar Year

  	
   

  	
  Shipped Quantity

  (FCA HSC in

  kilograms)

  	
   

  	
  Gross Price Per

  Kilogram for

  HSC DMS (in US

  Dollars)

  	
   

  	
  Advanced Payment Per

  Kilogram (in US

  Dollars)

  	
   

  	
  Net Price Per

  Kilogram for

  HSC DMS (in US

  Dollars)

  	
   

  	
  Net Remaining

  Advanced

  Payment at Year-

  End (to be

  Prorated based

  on actual volume

  shipped)

  	
   

  
	
  Total Advance Payment

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2010

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2011

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2012

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2013

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2014

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2015

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2016

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2017

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2018

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
  2019

  	
   

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
	
   

  	
   

  	
  Total
  Shipped Quantity (in kilograms): ***

  	
   

  	
  Average
  Gross Price Per Kilogram: $***

  	
   

  	
   

  	
   

  	
  Average
  Net Price Per Kilogram: $***

  	
   

  	
   

  	
   

  

 

 

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EXHIBIT
B

SOLAR-GRADE
POLYSILICON ANTICIPATED DELIVERY SCHEDULE

 

	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Price Variance

  ($US/kg)

  
	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  ***

  
	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  ***

  
	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  ***

  
	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  ***

  
	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  ***

  
	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  ***

  
	
  HSC XXX

  	
   

  	
  Granular

  	
   

  	
  TBD

  	
   

  	
  TBD

  

 

 

HSC and Buyer Confidential

***         CONFIDENTIAL MATERIAL
REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

11

 

Exhibit B (Continued)

Product Pricing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HSC and Buyer Confidential

***         CONFIDENTIAL MATERIAL
REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

12

 

Pricing for HSC DMS

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC DMS

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

Pricing for HSC DMS-L

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC DMS-L

  	
   

  	
  Big Piece

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

Pricing for HSC SGB

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC SGB

  	
   

  	
  Chunk

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

 

HSC and Buyer Confidential

***         CONFIDENTIAL MATERIAL
REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

13

 

Exhibit B (Continued)

Product Pricing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HSC and Buyer Confidential

***         CONFIDENTIAL MATERIAL
REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

14

 

Pricing for HSC 900

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC 900

  	
   

  	
  Chunk

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

Pricing for HSC 840*

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC 840

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

Pricing for HSC 850*

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
   ***

  
	
  2013

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  *** 

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC 850

  	
   

  	
  Chips

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

 

 

HSC and Buyer Confidential

***         CONFIDENTIAL MATERIAL
REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

15

 

Exhibit B (Continued)

Product Pricing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HSC and Buyer Confidential

***         CONFIDENTIAL MATERIAL
REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

16

 

Pricing
for HSC 890*

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC 890

  	
   

  	
  Chips/Fines

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

Pricing for HSC SCE*

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC SCE

  	
   

  	
  Carbon
  Ends

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

Pricing for HSC PTB*

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC PTB

  	
   

  	
  Etched TBS

  	
   

  	
  Bulk

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

 

 

HSC and Buyer Confidential

***         CONFIDENTIAL MATERIAL REDACTED AND
SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

17

 

Exhibit B (Continued)

Product Pricing

 

Pricing for HSC PCE*

	
  Calendar

  Year

  	
   

  	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Gross Price

  Per kg

  	
   

  	
  Net Price Per kg

  
	
  2010

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2011

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2012

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2013

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2014

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2015

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2016

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2017

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2018

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  
	
  2019

  	
   

  	
  HSC PCE

  	
   

  	
  Etched CE

  	
   

  	
  10 kg Bags

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  

 

 

PRODUCTS UNDER DEVELOPMENT(1)

	
  Product

  	
   

  	
  Type

  	
   

  	
  Package

  	
   

  	
  Price

  
	
  HSC P18*

  	
   

  	
  Surface Cleaned Fallout

  	
   

  	
  TBD(2)

  	
   

  	
  TBD

  
	
  HSC P19*

  	
   

  	
  Surface Cleaned Fallout

  	
   

  	
  TBD

  	
   

  	
  TBD

  
	
  HSC PSR*

  	
   

  	
  Surface Cleaned Fallout

  	
   

  	
  TBD

  	
   

  	
  TBD

  
	
  HSC GXX*

  	
   

  	
  Granular

  	
   

  	
  TBD

  	
   

  	
  TBD

  

*The available quantity of these products will be limited due to
capacity and the actual fall-out quantities. 
Buyer may, in its sole and exclusive discretion, fulfill its quantity
commitments based on any combination of available Product as determined solely
by HSC.  With respect to the Products
listed in this Exhibit B without the asterisk (*) designation, Buyer may, in
its sole and exclusive discretion, fulfill its quantity commitments based on
any combination of such Products, as determined solely by Buyer.

 

 

1 The Products identified are under development by
HSC. HSC makes no representation that the Products will ultimately be available
for use by Buyer. If development is successful (determined in HSC’s sole and
exclusive discretion), these Products or other future Product generations will
be made available for purchase at Buyer’s discretion in fulfillment of its
purchase obligations hereunder. Specifications will be developed and
communicated to Buyer.

2 “TBD” means to be determined.

 

HSC and Buyer Confidential

***         CONFIDENTIAL MATERIAL
REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

18

 

EXHIBIT
C

 

Electrical Costs: 
The base cost (base year = 2007) will be $*** per MWh (megawatt hour) with inflation estimated at ***% per year.  If the cumulative percentage increase in HSC’s
actual electrical rate exceeds ***%
compounded annually, HSC may increase the contract price of polysilicon by $*** per kg for each whole percentage point
that the cumulative actual percentage increase exceeds the cumulative
compounded ***% base rate.  The following table provides an example of
this price adjustment mechanism:

 

	
   

  	
   

  	
  2008

  	
   

  	
  2009

  	
   

  	
  2010

  	
   

  	
  2011

  	
   

  	
  2012

  	
   

  	
  2013

  	
   

  	
  2014

  	
   

  	
  2015

  	
   

  	
  2016

  	
   

  	
  2017

  	
   

  	
  2018

  	
   

  	
  2019

  	
   

  	
  2020

  	
   

  
	
  Base Rate *

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Compounded

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Actual Rate *

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Compounded

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Price Change / KG

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
																																		

 

In the preceding example,
HSC may choose to increase the annual contract price of polysilicon (Exhibit B)
by $*** per kg in 2015 through
2017 and by $*** per kg in 2018
through 2020.

 

 

Labor Cost Inflation: 
The base inflation rate is estimated at ***% per year (base year = 2007).  If the cumulative rate of inflation (as
measured by ECI) exceeds ***%
compounded annually, HSC may increase the contract price of polysilicon by $*** per kg for each whole percentage point
that the cumulative percentage increase in ECI exceeds the cumulative
compounded ***% base rate.  The following table provides an example of
this price adjustment mechanism:

 

	
   

  	
   

  	
  2008

  	
   

  	
  2009

  	
   

  	
  2010

  	
   

  	
  2011

  	
   

  	
  2012

  	
   

  	
  2013

  	
   

  	
  2014

  	
   

  	
  2015

  	
   

  	
  2016

  	
   

  	
  2017

  	
   

  	
  2018

  	
   

  	
  2019

  	
   

  	
  2020

  	
   

  
	
  Base Rate *

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Compounded

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Actual Rate *

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Compounded

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Price Change / KG

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
																																				

 

In the preceding example,
HSC may choose to increase the annual contract price of polysilicon (Exhibit B)
by $*** per kg in 2013 through
2016 and by $*** per kg in 2017
through 2020.

 

 

HSC and Buyer Confidential

***                           CONFIDENTIAL MATERIAL REDACTED AND
SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

19

 

EXHIBIT C (Continued)

 

Raw Material Cost
Inflation:  The base cost (base year = 2007) of
Metallurgical Grade Silicon Metal will be $***
per KG with inflation estimated at ***%
per year.  If the cumulative rate of
inflation (as measured by USA CRU Spot) exceeds ***% compounded annually, HSC may increase the contract price
of polysilicon by $*** per kg for
each whole percentage point that the cumulative percentage increase in USA CRU
Spot exceeds the cumulative compounded ***%
base rate.  The following table provides
an example of this price adjustment mechanism:

 

	
   

  	
   

  	
  2008

  	
   

  	
  2009

  	
   

  	
  2010

  	
   

  	
  2011

  	
   

  	
  2012

  	
   

  	
  2013

  	
   

  	
  2014

  	
   

  	
  2015

  	
   

  	
  2016

  	
   

  	
  2017

  	
   

  	
  2018

  	
   

  	
  2019

  	
   

  	
  2020

  	
   

  
	
  Base Rate *

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Compounded

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Actual Rate *

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Compounded

  	
   

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  	
  ***

  	
  %

  
	
  Price Change / KG

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  	
  $

  	
  ***

  	
   

  
																																		

 

In the preceding example,
HSC may choose to increase the annual contract price of polysilicon (Exhibit B)
by $*** per kg in 2015 through
2017 and by $*** per kg in 2018
through 2020.

 

 

Inflation rate for
Electrical costs shall be measured by actual $ per MWh.  Inflation rate for Labor Cost Inflation shall
be measured by ECI.  “ECI” is the
Employment Cost Index Civilian (unadjusted) as published by the U.S. Department
of Labor (www.bls.gov).  Inflation for
metallurgical grade silicon metal shall be measured by CRU Spot price as
published by CRU International LTD (by subscription only).

 

 

HSC and Buyer Confidential

***                           CONFIDENTIAL MATERIAL REDACTED AND
SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

20Exhibit 10.7

 

CONFIDENTIAL TREATMENT REQUESTED

—

CONFIDENTIAL PORTIONS OF
THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION

 

	
   

  

 

Long-Term Ingot and Wafer Supply Agreement

	
   

  

 

between

NorSun AS

and

SunPower Corporation

 

 

 

***                           CONFIDENTIAL MATERIAL REDACTED AND
SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

 

This Long-Term Ingot and Wafer Supply Agreement is
made on August 9, 2007 (the “Effective Date”) between

NorSun AS, a Norwegian company
with registered address Bankplassen 1, 0151 OSLO and enterprise number
989 186 493 (hereafter referred to as “NorSun”); and

SunPower Corporation, a
company with registered address 3939 North First Street, San Jose, California
95134, USA (hereafter referred to as “SunPower”).

 

WHEREAS NorSun is active
in the field of manufacture and supply of Ingots and Wafers (as defined
herein);

WHEREAS SunPower
procures Ingots and Wafers for its manufacture of solar cells and solar
modules;

WHEREAS SunPower and
NorSun (each a “Party” and collectively the “Parties”) have concurrently
herewith entered into a Long-Tem Polysilicon Supply Agreement (the “Polysilicon
Agreement”) under which SunPower shall supply NorSun with polycrystalline
silicon in order to permit NorSun to partially satisfy its obligation to
manufacture and supply Ingots, and potentially Wafers, to SunPower pursuant to
this Agreement; and

WHEREAS SunPower desires
to purchase Ingots, and potentially Wafers, from NorSun, and NorSun is willing
to supply such Ingots, and potentially Wafers, to SunPower on the terms and
conditions set forth herein.

 

NOW, THEREFORE, the Parties agree as follows:

1.                                       DEFINITIONS

1.1                                 The
“Agreement” shall mean this signed document and

1.1.1                        Schedule 1
Specification of Ingots and Wafers, as may be updated from time to time by
mutual agreement of the Parties;

1.1.2                        Schedule 2 Prices,
Quantities, Yield/Ratios Limits, and Delivery Schedule.

1.1.3                        “Annual Quantity”
shall mean annual volumes as set forth in the Delivery Schedule (Schedule 2).

1.2                                 “Confidential
Information” shall have the meaning as set forth in Section 11.1.

1.3                                 “Delivery
Schedule” shall mean such delivery dates and quantities applicable to certain
periods set forth in Schedule 2.

1.4                                 “Effective
Date” shall mean the first date written above.

 

***                           CONFIDENTIAL MATERIAL REDACTED AND
SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

2

 

1.5                                 “Fiscal
Year” shall mean the period beginning on January 1st and ending on December
31st of the same year.

1.6                                 “Ingot”
shall mean a single crystal silicon unit to be used in manufacturing of
photovoltaic Wafers per SunPower specification as identified in Schedule 1.

1.7                                 “Wafer”
shall mean a pseudo quadratic disc sliced from a single crystal silicon Ingot
per SunPower specification as identified in Schedule 1.

1.8                                 “Products”
shall mean, collectively, Ingots and Wafers as defined above.

1.9                                 “SunPower-Sourced
Products” shall mean Products manufactured with a corresponding volume of polysilicon
delivered by SunPower under the Polysilicon Agreement.

1.10                           “Third
Party-Sourced Products” shall mean Products manufactured with a corresponding
volume of polysilicon supplied by third parties (i.e. other than SunPower) to
NorSun.

 

2.                                       SALE
AND PURCHASE

2.1                                 Subject
to the provisions of Section 5, NorSun shall be obligated to supply, and
SunPower shall be obligated to purchase, (a) during the period commencing on
the Effective Date and expiring on December 31, 2011, Ingots in the Annual
Quantities as further set forth in the Delivery Schedule (Schedule 2) and (b)
during the period commencing on January 1, 2012 and expiring on December 31,
2019, Ingots in the Annual Quantities as further set forth in the Delivery
Schedule (Schedule 2); subject in the case of this subclause (b) to the Parties
agreeing on the pricing for such quantities in accordance with Section 3.3 and
volume for Third Party-Sourced Products in accordance with Section 5.2.  Subject to the provisions of Sections 3.2 and
5, NorSun may supply and SunPower may purchase Wafers in lieu of Ingots in
satisfaction of their Annual Quantity commitments, in each case as mutually
agreed by the Parties during the Term. 
No inability to agree on Wafer quantities shall affect the Parties’
obligations with respect to Ingots.

2.2                                 All
sales and purchase of Products between the Parties are subject to and governed
by this Agreement unless otherwise expressly agreed in writing (under purchase
orders or otherwise).

2.3                                 Unless
otherwise consented to in writing by SunPower, NorSun shall sell
SunPower-Sourced Products exclusively to SunPower.

 

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3.                                       PRICES

3.1                                 The
prices for Ingots delivered for the period from the Effective Date through
December 31, 2011 shall be determined according to Schedule 2.

3.2                                 No
later than December 31, 2008 the Parties shall initiate discussions on Wafer
prices for NorSun’s delivery of Wafers to SunPower in lieu of Ingots through
2011. Such Wafer prices shall be agreed in writing and apply from the date
determined by the Parties. If the Parties are unable to agree on Wafer prices
within two months after the discussions are initiated, such discussions shall
cease and be reopened no later than one Fiscal Year thereafter.  No inability to agree on Wafer pricing shall
affect the Parties’ obligations with respect to Ingots.

3.3                                 The
prices for Products delivered for the period from January 1, 2012 through
December 31, 2019 shall be determined prior to each Fiscal Year, and shall be
established by mutual written agreement between the Parties.  The Parties shall initiate discussions to
establish such prices no later than 120 days preceding any Fiscal Year to which
such prices shall apply.  In the event
the Parties are unable to reach agreement no later than 15 days prior to the
start of the applicable Fiscal Year, (a) the Product prices for such Fiscal
Year shall be the same as the Product prices in effect immediately prior to
such Fiscal Year and (b) if such inability to reach agreement on pricing
continues through the end of such Fiscal Year, either Party may terminate this
Agreement pursuant to Section 21.

3.4                                 The
prices in Schedule 2 include taxes and duties that may be imposed in Norway on
the manufacturing of the Products, but no other taxes or duties, i.e. taxes and
duties imposed on the import and sale of the Products.

3.5                                 In
the event that the polysilicon prices described in Section 4.1 of the Polysilicon
Agreement are adjusted pursuant to Section 4.2 thereof, the Parties shall
adjust the prices on the SunPower-Sourced Products in an amount equal to such
adjustment. Any adjustment shall apply to the SunPower-Sourced Products
associated with the newly priced polysilicon.

 

4.                                       PAYMENT

4.1                                 All
payments for Products shall be made by SunPower to NorSun no later than 30 days
following the date of NorSun’s invoice. 
Payment shall be net of any and all invoice fees or other fees or
charges, other than those specified in this Agreement.  All invoices should be sent to SunPower at
its registered office. NorSun shall specify any taxes and duties charged on the
invoice.

4.2                                 Unless
otherwise agreed by NorSun, no deductions from invoices by SunPower are
permitted.

 

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4.3                                 Any delayed payment under this Agreement shall carry
delayed payment interest of ***% per month (***% per annum) from the due date,
based on 360 interest days per year.  If
the due date of any payment to be made hereunder falls on a day which is not a working day in the State of California, U.S., or Norway, delayed
payment interest shall commence from the first working day after the due date.

 

5.                                       FIRM
COMMITMENT OBLIGATIONS; ADJUSTMENTS

5.1                                 Subject
to the provisions of this Section 5, for the period from the Effective Date
through December 31, 2011, NorSun shall be obliged to supply and SunPower shall
be obliged to purchase the Ingots in such Annual Quantities as set forth in the
Delivery Schedule; provided, however, that NorSun’s supply obligation to
provide Ingots which are Third Party-Sourced Products for the years 2007
through 2009 shall be on a best efforts basis
only, consistent with Section 3.3 of the Polysilicon Agreement. Subject to the
provisions of this Section 5 and the Parties’ agreement on Wafer pricing in
accordance with Section 3.2, NorSun shall supply and SunPower shall purchase
Wafers in lieu of Ingots in satisfaction of their Annual Quantity
commitments.  No inability to agree on
Wafer quantities shall affect the Parties’ obligations with respect to Ingots.

5.2                                 Subject
to the Parties’ agreement on pricing in accordance with Section 3.3, and
subject to the provisions of this Section 5, for the period from January 1,
2012 through December 31, 2019, each Fiscal Year NorSun shall be obliged to
supply and SunPower shall be obliged to purchase such SunPower-Sourced Product quantities as set forth in the Delivery Schedule
corresponding to the column entitled “SPWR Poly Supplied” therein (i.e. *** metric tons). With respect to Third Party-Sourced Product
quantities for the period from January 1, 2012 through December 31, 2019,
subject to the Parties’ agreement on pricing in accordance with Section 3.3,
and subject to the provisions of this Section 5, such quantities for each
Fiscal Year shall be established by mutual written agreement.  The Parties shall initiate discussions to
establish such Third Party-Sourced quantities no later than 120 days preceding
any Fiscal Year to which such quantities shall apply.  In the event the Parties are unable to reach
agreement no later than 15 days prior to the start of the applicable Fiscal
Year, (a) the Product quantities for such Fiscal Year shall be the same as the
preceding Fiscal Year and (b) if such inability to reach agreement on
quantities continues through the end of such Fiscal Year, either Party may
terminate this Agreement pursuant to Section 21.

5.3                                 Notwithstanding
anything to the contrary in this Agreement (including but not limited to
Sections 2.1, 5.1, and 5.2, and the Delivery
Schedule), SunPower may, with respect to any Product quantity that it is
otherwise required to purchase pursuant to this Agreement, eliminate its firm
commitment obligation to purchase such quantity if SunPower consents to NorSun’s
resale of such Product quantity to third parties.

5.4                                 Notwithstanding
anything to the contrary in this Agreement (including but not limited to Sections
2.1, 5.1, and 5.2, and the Delivery Schedule):

 

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                                                      a)       If delivery of polysilicon from SunPower
to NorSun under the Polysilicon Agreement is delayed, the delivery dates for a
proportional amount of SunPower-Sourced Products shall be postponed for the
same period  accordingly without
liability to either party for such delay (the amount of SunPower-Sourced
Products postponed shall be proportional to the delayed amount of polysilicon
in relation to NorSun’s total silicon supply for all SunPower-Sourced Products
for the applicable period).  In no event
shall any delay of delivery of polysilicon from SunPower to NorSun excuse or
otherwise affect NorSun’s obligations to provide Third Party-Sourced Products
under this Agreement.

                                                      b)       In the event that the quantity of
polysilicon supply from SunPower under the Polysilicon Agreement is not
sufficient for the manufacturing of the SunPower-Sourced Products to be
supplied under this Agreement, NorSun’s obligation to deliver, and SunPower’s
obligation to purchase (to the extent such shortfall results from a
corresponding shortfall of polysilicon from Hemlock), SunPower-Sourced Products
under this Agreement shall be reduced without liability to either Party
proportionately to such shortfall in polysilicon.  In no event shall any shortfall in delivery
of polysilicon from SunPower to NorSun excuse or otherwise affect NorSun’s
obligations to provide Third Party-Sourced Products under this Agreement.

                                                      c)       Until NorSun has established sufficient
Wafer manufacturing capacity at its Årdal (Norway) plant, NorSun shall deliver
squared Ingots to SunPower unless the Parties agree to ship as-grown or ground
round Ingots in addition to, or in lieu of, squared Ingots.  Subject to the Parties’ ability to agree on
Wafer pricing in accordance with Section 3.2 and/or 3.3 , NorSun shall deliver
Wafers to SunPower when such capacity has been established.  NorSun will use its best efforts to establish
Wafer manufacturing capacity no later than September 30, 2008.  In the event NorSun is unable to deliver
Wafers per SunPower’s specifications at any time during the Term, NorSun shall
fulfill its Annual Quantity obligations through its delivery of Ingots.  Notwithstanding anything to the contrary
herein, no inability of the Parties to agree on pricing or quantities for
Wafers during the Term shall affect the Parties’ obligations with respect to
Ingots under this Agreement.

5.5                                 Subject
to the provisions of Sections 5.3 and 5.4, either Party shall be entitled to
seek recovery of its damages for failure by the other Party to fulfill its
annual firm commitment obligations to the extent described in Sections 5.1 and
5.2 with respect to any Fiscal Year.

5.6                                 Pursuant
to the Polysilicon Agreement Section 9, NorSun has acknowledged that SunPower
will be contracting with Hemlock Semiconductor Corporation (“Hemlock”) to
expand Hemlock’s manufacturing facility (the “Expanded Manufacturing Facility”)
in order to produce the polysilicon to be supplied under the Polysilicon
Agreement. NorSun acknowledges the possibility of delays or failures in Hemlock
completing the Expanded Manufacturing Facility and expressly agrees that
notwithstanding anything in this Agreement to the contrary, SunPower SHALL HAVE
NO LIABILITY TO NORSUN FOR ANY SUCH DELAY OR FAILURE, including for any
shortfalls in delivery of Polysilicon resulting therefrom.

 

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6.                                       PURCHASE ORDERS

6.1                                 SunPower
shall no later than 30 days prior to each Fiscal Year issue purchase orders (“Purchase
Orders”) for a total of the Annual Quantity for such Fiscal Year.

6.2                                 Each
month NorSun shall issue a release identifying the monthly quantities of
Products to be delivered.  Such release
shall be consistent with the delivery schedule of Polysilicon received by
SunPower from its suppliers and with the Annual Quantities set forth in
Schedule 2.

6.3                                 The
Purchase Orders shall, unless otherwise agreed in writing between the Parties
be issued monthly and shall at a minimum contain the following information: (i)
reference to this Agreement, (ii) identification of the Products by proper
name, price, and Annual Quantity, (iii) delivery instruction and delivery
place, and (iv) issue date.  The Purchase
Orders shall be sent by ordinary mail, and a copy shall be forwarded to NorSun
on the issue date either by e-mail or telefax. For the period from January 1,
2011 through December 31, 2019, a Purchase Order shall be binding for SunPower
only after it is received and its conditions have been confirmed by NorSun.

6.4                                 A
Purchase Order shall be sent by e-mail, or alternatively telefax, and regular
mail. If no objection to the Purchase Order has been raised by NorSun within 15
days after SunPower’s issue date, then such Purchase Order shall be deemed
accepted by NorSun.

 

7.                                       DISCREPANCIES

7.1                                 In the event of a discrepancy between the terms and
conditions of this Agreement and the individual Purchase Order, the terms and conditions of this Agreement shall
prevail unless the Parties in writing expressly
agree otherwise.

8.                                       DELIVERY

8.1                                 The Products shall be delivered FCA Aardal, Norway
(Incoterms 2000).  SunPower shall
instruct NorSun on the delivery location for each shipment.  In the event Products are delivered more than four (4) weeks following the delivery date
requested by SunPower, NorSun agrees to immediately dedicate its entire factory
production to fulfilling SunPower’s delivery, and ship such Products via air
freight to a delivery location then requested by
SunPower at NorSun’s expense.  If
Products  are not delivered within six
(6) weeks following the requested delivery date, NorSun will pay SunPower
liquidated damages  at a rate of ***
percent (***%) of the gross purchase price applicable to such shipment per week
thereafter, up to a maximum of *** percent (***%) of such purchase price,
provided, however, that the liquidated damages shall not apply and SunPower
shall be entitled to full compensation in the event that NorSun’s failure to
deliver is caused by gross negligence or wilful misconduct.  The foregoing liquidated damages address late
delivery shipments only and are independent of NorSun’s liability (if any) and
SunPower’s corresponding ability to recover damages,  for NorSun’s failure to deliver its minimum
Annual Quantity commitments pursuant to Section 5.1and 5.2 of this Agreement.

 

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8.2                                 Title
to the Products shall pass to SunPower simultaneously with risk of loss under
FCA Aardal, Norway (Incoterms 2000).

8.3                                 A
conformance certificate shall be issued by NorSun to SunPower for each delivery
of Products. The parameters shown in the delivery certificate are outlined in
Schedule 1.

 

9.                                       PACKAGING
AND SHIPPING

9.1                                 NorSun
shall bear all costs associated with packaging or storing the Products until
delivery to SunPower pursuant to the delivery terms specified in Section 8. All
Products shall be packaged, marked, and otherwise prepared in accordance with
good commercial practices to reduce the risk of damage and to be packaged in
the smallest commercially acceptable form in order to enable SunPower to obtain
the lowest shipping rates possible (based on volume metric dimensions) and in
accordance with all applicable federal, state and local packaging and
transportation laws and regulations. An itemized packing list shall accompany
each shipment.  Other or special
packaging and shipping requirements are set forth on Schedule 1.

9.2                                 NorSun
shall establish reasonable control routines in order to ensure punctual
delivery of the Products at the agreed time and without any defects or
non-conformities.

9.3                                 A
shipment notice shall be submitted from NorSun to SunPower by telefax or other
means of communications, at the latest on the shipment date, including:

a)          Purchase Order No.

b)          Brief description of
Product

c)           Invoice amount

d)          Number of packages

e)           Gross weight (total)
kilos

f)           Packing List
describing in detail the content of each package

9.4                                 A
delivery certificate shall be issued by NorSun to SunPower for each shipment of
Products.

 

10.                                 INSPECTION

10.1                           An inspection of the appearance of the package shall be
made by SunPower within *** after delivery of Products. In case the package has
any damage, SunPower shall notify NorSun . If NorSun has not
received a written notification within *** after the delivery, the inspection
of appearance of the package shall be regarded as accepted.

10.2                           The
final inspection of the Products will take place by SunPower within and not
later than *** after the delivery date. If the Product does not meet the

 

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Schedule 1
specifications, SunPower shall notify and submit to
NorSun documentary evidence of the result of the final inspection whereupon
NorSun shall have the right to undertake its own inspection.

 

10.3                           In
the event that the Products do not meet the Schedule 1 specifications, SunPower
shall have the right pursuant to Section 12 to reject such defective Products
and return them to NorSun. The defective Products shall be replaced by NorSun
according to the Rejected Material Administration (RMA) procedure. NorSun shall
examine and judge the returned Products within *** after receipt.  NorSun shall bear any and all costs and
expenses incurred by SunPower related to the return of the defective Products
and shall provide such remedies as set forth in Section 12.2.

10.4                           All
manufacturing facilities of NorSun shall be subject to quality assurance audits
by SunPower at all reasonable times and places. If such audit is made on NorSun’s
premises, NorSun shall provide without additional charge, all reasonable
facilities and assistance for such audit. 
All quality assurance records relating to
the Products shall be available to SunPower during the performance of this
Agreement.  Nothing herein shall require
NorSun to disclose confidential information relating to technology licensed to
NorSun by third parties.

 

11.                                 CONFIDENTIALITY

11.1                           The
Parties acknowledge and agree that the terms of this Agreement and certain
information exchanged between them pertaining to this Agreement, including
information regarding research, technology, product developments, marketing
plans or conditions, products, business strategies, and the like, constitute “Confidential
Information” of the Party disclosing the information.  The purpose of the exchange of the
Confidential Information” is to allow the Parties to meet their obligations and
responsibilities under this Agreement. 
During the term of this Agreement, and for a period of 15 years
following its termination or expiration, except as required by applicable law,
regulation or rules of any securities exchange, the Party receiving any
Confidential Information, and its employees, attorneys, financial advisors,
officers, directors and shareholders who shall receive such Confidential
Information shall not, except with the prior written consent of the disclosing
Party, use, divulge, disclose or communicate, to any person, firm, corporation
or entity, in any manner whatsoever, the terms of this Agreement or any
Confidential Information of the disclosing Party; provided, however, that each
Party may use, divulge, disclose or communicate the terms of this Agreement or
Confidential Information of the disclosing Party to wholly-owned or majority
owned subsidiaries if such subsidiaries undertake to keep such information
strictly confidential in accordance with this Section 9 and each subsidiary has
a “need to know”.  The Parties will be
liable for any breach of this Section 9 by any of their respective wholly-owned
or majority owned subsidiaries.  Each
Party further agrees to use the same degree of care to avoid publication or
dissemination of the Confidential Information disclosed to such Party under
this Agreement as it employs with respect to its own Confidential Information,
but at all times shall use at least reasonable care to protect against
disclosure.

11.2                           Confidential
Information does not and shall not include information that:

 

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11.2.1                            was already known to
the receiving Party at the time such information is disclosed by the other
Party;

11.2.2                            was or became publicly
known through no wrongful act of the receiving Party;

11.2.3                            was rightfully
received from a third party without restriction;

11.2.4                            was independently
developed by the receiving Party;

11.2.5                            was approved for release
by written authorization of the Party disclosing such information under this
Agreement; or

11.2.6                            was required by legal
or financial reporting purposes to be disclosed; provided, however, that the
Party being required to disclose shall, if circumstances permit, provide
advanced notice to the other Party.

 

12.                                 WARRANTY

12.1                           NorSun
warrants that the Products will be free from defects and workmanship, and
conform to the specifications set forth in Schedule 1, provided that NorSun is
notified of any defects or non-conformity within thirty (30) days after
delivery and that the defect or non-conformity is shown to be due to NorSun’s
faulty design, workmanship, material or packaging.

12.2                           If
any Products fail to conform to this warranty, then NorSun will, at SunPower’s
option, either refund or replace such Products. 
For valid warranty claims all associated shipping and return costs shall
be paid by NorSun.

 

13.                                 INDEMNIFICATION

13.1                           NorSun
shall indemnify SunPower against any and all costs, loss and liability for all
personal injury and property damage caused by the Products (whether performed
on the premises of NorSun or SunPower or elsewhere) and shall defend at its
sole cost and expense any action brought against SunPower as a result of any
such personal injury or property damage. 
NorSun shall carry and maintain insurance coverage satisfactory to cover
the above, and upon SunPower’s request, shall furnish SunPower with evidence of
such insurance.

13.2                           NorSun
shall defend, at its own expense, any suit or claim that may be instituted
against SunPower or any customer of SunPower for alleged infringement of
patents, trade secrets, copyrights or other intellectual property rights
relating to the maintenance, sale or use of the Products, and NorSun shall
indemnity SunPower and its customers for all costs and damages arising out of
such alleged infringement.

 

14.                                 FORCE MAJEURE

14.1                           Neither
Party shall be liable for delays or failures in performance of their obligations

 

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under this Agreement arising out of or
resulting from acts of God, acts of the other Party, acts of the government,
the public enemy or events of war, fire, flood, epidemics, quarantine
restrictions, strikes, or freight embargoes (each a “Force Majeure Event”). 

 

14.2                           In the event of any Force
Majeure Event, the unaffected Party shall honor its obligations hereunder as
soon as the affected Party is able to perform.

 

 

15.                                 ASSIGNMENT

 

15.1                           No assignment of the
Agreement or of any right or obligation under the Agreement shall be made by
either of the Parties without the prior written consent of the other Party,
such consent shall not to be unreasonably withheld or delayed.  In the event of a proper assignment, the
Agreement shall be binding upon and inure to the benefit of the assigning Party’s
successors and assigns.

 

 

16.                               NO
PARTNERSHIP OR AGENCY

 

16.1                           Nothing in this Agreement
shall constitute, or be deemed to constitute, a partnership or agency between
the Parties.

 

 

17.                                 NOTICES

 

17.1                           Any communication which is required
or permitted hereunder shall be in writing and shall be deemed to have been
duly given if delivered personally, telefaxed (and with a confirmation copy also sent by mail), delivered
by a reputable commercial courier service or mailed, always with receipt
acknowledged, to the registered address of either Party as set forth herein or
to such other registered address as follows from a prior notification to the
other Party by the receiving Party.

 

18.                                 ENTIRE AGREEMENT

 

18.1                           This Agreement constitutes
the entire understanding between the Parties with respect to the subject matter
of the Agreement and supersedes any prior discussions, negotiations,
agreements, memoranda of understanding and the like.  Modifications to the Agreement may be made
only in writing and signed by each Party. 
If one or more of the provisions of this Agreement shall be found, by a
court with jurisdiction, to be illegal, invalid or unenforceable, it shall not
affect the legality, validity or enforceability of any of the remaining
provisions of this Agreement.  The
Parties agree to attempt to substitute for any illegal, invalid or
unenforceable provision a legal, valid or enforceable provision that achieves
to the greatest extent possible the economic objectives of the illegal, invalid
or unenforceable provision.

 

 

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19.                                 POLYSILICON AGREEMENT

 

19.1                           The Parties acknowledge that this
Agreement is entered in reliance upon the execution and continuing
effectiveness of the Polysilicon Agreement. 
Accordingly, to the extent any modifications are made to the provisions
of the Polysilicon Agreement, the Parties will in good faith consider
appropriate modifications to the provisions of this Agreement.  The Parties also acknowledge that NorSun’s
obligations to deliver to SunPower Third Party-Sourced Products are independent
of any reliance NorSun places upon the Polysilicon Agreement.

 

 

20.                                 WAIVER

 

20.1                           Either Party’s failure to
exercise a right or remedy or such Party’s acceptance of a partial or
delinquent payment or delivery shall not operate as a waiver of any of such
Party’s rights or the other Party’s obligations under the Agreement and shall
not constitute a waiver of such Party’s right to declare an immediate or a
subsequent default.

 

 

21.                                 TERM AND TERMINATION

 

21.1                           This Agreement commences on
the Effective Date, and continues to remain in force and effect until December
31, 2019 (the “Term”), at which time this Agreement may be extended with the
mutual agreement of both Parties.

 

21.2                           The Parties expressly agree
that NorSun is obligated to supply and SunPower is obligated to purchase the
Products at the contracted prices and quantities pursuant to Sections
3.1 and 5.1 through 2011, and thereafter through 2019 as agreed to each Fiscal
Year pursuant to Sections 3.2 and 5.2. 
Accordingly, the basis and circumstances under which the Parties can
terminate this Agreement prior to the expiration of the Term of this Agreement
is expressly limited to the terms of this Section 21.

 

21.3                           Termination by NorSun.  NorSun may, at its option, terminate this
Agreement only upon one of the following events:

 

a)             Upon the event of a material breach by
SunPower of its obligations under this Agreement (other than a material breach
triggered by a Force Majeure Event, which shall be solely addressed in Section
14), provided that (i) NorSun submits a written notice of such breach to
SunPower, and (ii) SunPower fails to cure such breach within ninety (90) days
of receipt of the written notice of breach. 
If SunPower rectifies any such breach within such period, then SunPower’s
breach shall be deemed cured and NorSun shall not be entitled to terminate this
Agreement;

 

 

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b)             Upon the event that the Parties are
unable to agree on pricing pursuant to Section 3.3(b) or quantities for Third
Party-Sourced Products pursuant to Section 5.2(b),  such  
termination  being  effective  
as   of   the expiration of  the twelve-month period referenced therein;
or

 

c)              Upon the termination of the Polysilicon
Agreement by NorSun pursuant to Section 10.2(a) thereof.

 

21.4                           Termination by SunPower.  SunPower may, at its option, terminate this
Agreement upon one of the following events:

 

a)             Upon the event of a material breach by
NorSun of its obligations under this Agreement (other than a material breach
triggered by a Force Majeure Event, which shall be solely addressed in Section
14), provided that (i) SunPower submits a written notice of such breach to
NorSun, and (ii) NorSun fails to cure such breach within ninety (90) days of
receipt of the written notice of breach.  
If NorSun rectifies any such breach within such period, then NorSun’s
breach shall be deemed cured and SunPower shall not be entitled to terminate
this Agreement;

 

b)             Upon the event that the Parties are
unable to agree on pricing pursuant to Section 3.3(b) or quantities for Third
Party-Sourced Products pursuant to Section 5.2(b), such termination being
effective as of the expiration of the twelve-month period referenced therein;

 

c)              In the event that NorSun, due to reasons not
deemed as Force Majeure in accordance with Section 14, resolves to cease its
Ingot or Wafer manufacturing for SunPower’s benefit permanently or for a period
exceeding 90 days; or

 

d)             Upon the termination of the Polysilicon
Agreement by NorSun pursuant to Section 10.2(a) thereof.

 

21.5                           Sections 1, 4 (to the extent
of any due and unpaid invoices), 11 through 18, and 20 through 25 shall survive
any termination of this Agreement.

 

 

22.                                 ATTORNEYS FEES AND COSTS

 

22.1                           The Parties shall bear their
own expenses incurred in connection with the negotiation and execution of this
Agreement.

 

 

23.                                 DOLLARS

 

23.1                           All references to monetary
amounts shall be in U.S. Dollars.

 

 

24.                                 AGREEMENT PREPARATION

 

24.1                           This Agreement shall be
considered for all purposes as prepared through the joint efforts of the
Parties and shall not be construed against one Party or the other as a

 

 

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result of the manner in which this
Agreement was negotiated, prepared, drafted or executed.

 

 

25.                                 GOVERNING LAW AND DISPUTE
RESOLUTION

 

25.1                           The Agreement is made in, and
shall be governed and controlled in all respects by the laws of the State of
Michigan, USA (specifically disclaiming the U.N. Convention Contracts for the
International Sale of Goods). All disputes, including interpretation,
enforceability, validity, and construction, shall be determined under the law
of the State of Michigan, USA, without regard to any conflict of law
provisions.

 

25.2                           The Parties submit to the
exclusive jurisdiction and venue of the U.S. District Court for the Eastern
District of Michigan for all disputes arising, directly or indirectly, under
this Agreement.

 

 

* * *

 

 

IN WITNESS WHEREOF, the Parties have
entered into this Agreement as of the Effective Date.

 

 

 

	
  For and on behalf of 

  	
   

  	
  For and on behalf of  

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  NorSun AS 

  	
   

  	
  SunPower Corporation 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/
  GRETE SONSTEBY

  	
   

  	
  /s/
  THOMAS WERNER

  	
   

  
	
  Name:
  Grete Sonsteby 

  	
   

  	
  Name:
  Thomas Werner 

  	
   

  
	
  Title:
  Chairman of the Board

  	
   

  	
  Title:
  Chief Executive Officer

  	
   

  

 

 

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SCHEDULE NO. 1 SPECIFICATION OF
INGOTS AND WAFERS

 

 

See SunPower Squared Ingot spec #001-07689
Rev A

 

 

See SunPower Wafer spec #001-07686 Rev A.

 

***

 

 

***                           CONFIDENTIAL MATERIAL REDACTED AND SEPARATELY
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION

 

15

 

SCHEDULE NO. 2 PRICES ,
QUANTITIES, YIELD/RATIO

LIMITS, AND DELIVERY
SCHEDULE

 

	
  Year

  	
   

  	
  Month

  	
   

  	
  Poly
  Price

  	
   

  	
  Conversion

  Price

  	
   

  	
  Conversion

  Ratio

  	
   

  	
  SPWR
  Poly

  Supplied

  	
   

  	
  Norsun

  Poly

  Supplied

  	
   

  	
  Total
  Poly

  Volume

  	
   

  	
  Ratio
  Ingot

  Volume to be

  delivered

  	
   

  	
  Norsun's

  Price of

  Slabbed

  Ingot

  	
   

  
	
  2007

  	
   

  	
  Oct

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Nov

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Dec

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
  2008

  	
   

  	
  Jan

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Feb

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Mar

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Apr

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  May

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Jun

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Jul

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Aug

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Sept

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Oct

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Nov

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Dec

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
  2009

  	
   

  	
  Jan

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Feb

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Mar

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Apr

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  May

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Jun

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Jul

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Aug

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Sept

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Oct

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Nov

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Dec

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
  2010

  	
   

  	
  Jan

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Feb

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Mar

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Apr

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  May

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Jun

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Jul

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Aug

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Sept

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Oct

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Nov

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Dec

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
  2011

  	
   

  	
  Jan

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Feb

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Mar

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Apr

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  May

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Jun

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Jul

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Aug

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Sept

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Oct

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Nov

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
   

  	
   

  	
  Dec

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  	
  ***

  	
   

  
	
  2012

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  TBN

  	
   

  
	
  2013

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  TBN

  	
   

  
	
  2014

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  TBN

  	
   

  
	
  2015

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  TBN

  	
   

  
	
  2016

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  TBN

  	
   

  
	
  2017

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  TBN

  	
   

  
	
  2018

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  TBN

  	
   

  
	
  2019

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
  ***

  	
   

  	
  TBN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  TBN

  	
   

  

 

“TBN” means to be negotiated in accordance with the
Agreement.

 

16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}]]