Document:

EXHIBIT 10.44

                              FOUNDATION AGREEMENT
                              --------------------

      THIS FOUNDATION AGREEMENT ("Agreement"), dated as of this 17th day of
March, 2000, is made between United Solar Systems Corp. ("United Solar"), a
Delaware corporation, with its principal office at 1100 West Maple Road, Troy,
Michigan 48084, and Bekaert Corporation ("Bekaert"), a Delaware corporation,
with its principal office at 3200 West Market Street, Suite 303, Akron, Ohio
44333, and Energy Conversion Devices, Inc. ("ECD"), a Delaware corporation, with
its principal office at 1675 West Maple Road, Troy, Michigan 48084.

                                    RECITALS:
                                    --------

      A. United Solar is in the business of designing, manufacturing, marketing
and selling Strip Cells, PV Products and PV Systems, and is owned 49.998% by
ECD, 49.998% by Canon, Inc. ("Canon") and 0.004% by the Haru M. Reischauer Trust
dated April 23, 1990 (the "Reischauer Trust").

      B. The Bekaert Group, the ultimate parent company of which is N.V. Bekaert
S.A., a Belgian corporation with its registered office at Bekaertstraat 2, 8550
Zwevegem, Belgium ("NVB"), and corporations with core technologies of metal
transformation and coatings, including advanced material technology for thin
metal fibers, innovative thin sputtered coatings and glass-reinforced plastic
products.

      C. ECD is a company engaged in the synthesis of new families of disordered
materials and the development of advanced production technology and innovative
products, with particular expertise in the development and commercialization of
thin film photovoltaic solar cells using proprietary materials, designs,
processes and production equipment.

      D.    United Solar owns 99.9 % of the shares of United Solar  Systems de
Mexico,  S.A. de C.V., a Mexican  corporation,  with its principal office at Av.
La Paz No. 10009,  Parque Industrial Pacifico,  Tijuana, Baja California,  C.P.
22670, Mexico ("United Solar Mexico"), which is engaged in assembly of PV
Products and PV Systems for United Solar.

      E. United Solar and Bekaert desire to form a joint venture structured as a
limited liability company organized under the laws of the State of Delaware to
be known as Bekaert ECD Solar Systems, LLC (the "Company"), which, together with
United Solar, will engage in the business of developing, designing,
manufacturing, marketing and selling PV Products and PV Systems.

      F.    As a necessary  condition  to the joint  venture,  all of the
capital  stock in United Solar owned beneficially or of record by Canon will be
bought by ECD.

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            NOW, THEREFORE, in consideration of the promises and payments
hereinafter set forth, and for other good and valuable consideration, the mutual
receipt and sufficiency of which is hereby acknowledged, the parties hereby
agree as follows:

1.    OVERVIEW
      --------

      1.1  At the Closing.  At or prior to the Closing the following
transactions will occur:

        (a)   Bekaert and United Solar will form a Delaware limited  liability
company as set forth in Sections 2 and 3;

        (b)   Bekaert  will  purchase  a 19%  ownership  interest  in  United
Solar as set forth in Section 4;

        (c)   United  Solar  Mexico  will  become a 99.9%  subsidiary  of the
Company through  its contribution to the Company by United Solar;

        (d)   ECD will purchase all of the capital stock held  beneficially or
of record by Canon in United Solar; and

        (e)   United Solar will purchase all of the capital stock held
beneficially or of record by the Reischauer Trust in United Solar.

      1.2  Post Closing. After the Closing, at the option of Bekaert, ECD will
transfer all of its right, title and interest in and to Suryovonics and Sovlux
PV to United Solar, without additional remuneration to ECD.

      1.3  Products. The Company will design, manufacture (excluding Strip
Cells), market and sell PV Products and PV Systems. The Company will enter into
technology and patent license contracts with each of United Solar, ECD and Canon
and will lease certain equipment to United Solar for the production of Strip
Cells or parts of Strip Cells. United Solar will use such technology and such
equipment to manufacture Strip Cells or parts of Strip Cells and will
exclusively supply its output to the Company pursuant to an exclusive supply
agreement.

2.    FORMATION, NATURE AND PURPOSES OF JOINT VENTURE
      -----------------------------------------------

      2.1  Formation of the Company. On the Closing Date (the "Formation Date"),
United Solar and Bekaert shall cause the Company to be formed by executing and
filing a Certificate of Formation with the Delaware Secretary of State in
accordance with applicable provisions of Sections 18-201 et seq. of the Act, in
the form attached hereto as Exhibit 2.1A. Bekaert and United Solar shall on the
Formation Date execute and deliver a Limited Liability Company

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Agreement of Bekaert ECD Solar Systems LLC (the "LLC Agreement"), in the form
attached hereto as Exhibit 2.1B, and consistent with the provisions of the Act.
The Company's principal place of business shall be 1100 West Maple Road, Troy,
Michigan 48084.  On and after the Formation Date, the parties shall cause to be
filed all documents as may be required by this Agreement or by Law in connection
with the formation and operation of the Company and shall make, execute, and
file and shall cause the Company to make, execute and file all additional
charter documents, certificates, agreements and other instruments as may
reasonably be necessary or appropriate for the conduct of the business of the
Company.

3.    MEMBER CONTRIBUTIONS
      --------------------

      3.1  Contributions. United Solar and Bekaert shall each contribute cash
and/or property to the Company, as more fully set forth below, in exchange for a
40% and 60% interest, respectively in the Company. All cash payments to be made
under this Section 3 shall be payable by wire transfer to a bank account to be
designated by the payee, in U.S. currency at the dates specified below.

      3.2  United Solar's Contributions.  At Closing, in return for a 40%
interest in the Company, United Solar shall contribute to the Company the
following, which is valued at Twenty-Eight Million US Dollars (US$28,000,000)
in the aggregate:

        (a)   Twenty-Eight  Million  Fifty-Six  Thousand  US  Dollars
              (US$28,056,000), payable as follows:

              (i)   at Closing,  cash in the amount of  Twenty-Three  Million
                    Fifty-Six Thousand US Dollars (US$23,056,000);

              (ii)  the balance of Five Million US Dollars (US$5,000,000) shall
                    be paid on an as needed basis as determined by the
                    Management Committee of the Company but in any event no
                    later than the third (3rd) anniversary of the Closing Date;
                    and

        (b)   all of United Solar's shares of capital stock in United Solar
              Mexico shall be transferred and assigned to the Company.

(collectively, the "United Solar Contributed Assets").

      3.3 Bekaert's Contribution. In return for a 60% interest in the Company,
Bekaert shall contribute to the Company cash in the amount of Forty-Two Million
US Dollars (US$42,000,000), payable as follows:

        (a)   at Closing, cash in the amount of Twelve Million US Dollars

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              (US$12,000,000);

        (b)   the balance of Thirty Million US Dollars (US$30,000,000) shall
              be paid on an as needed basis as determined by the Management
              Committee of the Company.

      3.4  Retained Liabilities. Except for running royalty payments pursuant to
the Sohio Partnership Termination Agreement of June 2, 1986, the Company shall
not assume or be obligated to satisfy or perform any liability, obligation or
commitment of United Solar or Bekaert of whatever nature, whether known or
unknown, fixed or contingent.

      3.5  Conveyance of Title. The conveyance of title to the United Solar
Contributed Assets shall be effected by the execution and delivery of such bills
of sale, certificates of title, assignments, deeds, endorsements, and other
documents of conveyance as shall be deemed reasonably suitable to convey good
and marketable title to the United Solar Contributed Assets to the Company. The
documents of title delivered hereunder shall covenant that good and marketable
title to the United Solar Contributed Assets shall be conveyed to the Company,
free and clear of all Liens except as otherwise expressly provided in this
Agreement.

      3.6  ECD's and United  Solar's  Required  Actions.  On or prior to the
Closing, ECD shall cause the following to occur:

        (a)   ECD shall  purchase  all of the  capital  stock  held
              beneficially or of record by Canon in United Solar; and

        (b)   United Solar shall purchase all of the capital stock held
              beneficially or of record by the Reischauer Trust in United
              Solar.

      3.7  Post-Closing Transfer of Assets and Liabilities. Certain assets,
liabilities and contracts of United Solar will be transferred from United Solar
to the Company at a later date as agreed to in the Business Plan as approved by
the Management Committee of the Company.

4.    PURCHASE AND SALE OF UNITED SOLAR SHARES; CONTROL.
      -------------------------------------------------

      4.1  Purchase of Shares. On the Closing Date, United Solar shall sell,
transfer and deliver to Bekaert, and Bekaert hereby subscribes to and purchases
1,372,015 shares of common stock of United Solar (the "Shares") representing 19%
of the issued and outstanding shares of United Solar as of the Closing Date.

      4.2  Purchase Price. The aggregate purchase price for the Shares shall be
Thirty Million US Dollars (US$30,000,000), payable on the Closing Date via wire
transfer of immediately available funds to an account designated by United Solar
at least two (2) Business

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Days prior to the Closing Date.

      4.3  Control of United Solar. ECD acknowledges that after Closing ECD has
sole control in United Solar and that Bekaert has no significant influence,
directly or indirectly, in United Solar until Unification.

5.    TRANSACTION AGREEMENTS.
      -----------------------

       On the Closing Date, Bekaert, United Solar, the Company and/or ECD shall
enter into the following, as indicated (collectively, herein the "Transaction
Agreements"):

      5.1  Limited Liability Company Agreement. Bekaert and United Solar will
enter into a LLC Agreement which will govern the operation of the Company, in
the form of Exhibit 2.1(B) attached hereto.

      5.2  Shareholders' Agreement. Bekaert and United Solar will enter into a
Close Corporation Shareholder Agreement which shall contain voting rights and
buy-sell rights regarding United Solar, in the form of Exhibit 5.2 attached
hereto (the "Close Corporation Shareholder Agreement").

      5.3  Supply Agreement. The Company will enter into an Exclusive Supply
Agreement with United Solar, pursuant to which United Solar will supply the
Company with Strip Cells or parts of Strip Cells, in the form of Exhibit 5.3
attached hereto (the "Exclusive Supply Agreement").

      5.4  Equipment.

        (a)   The Company will enter into an Equipment Fabrication Services
              Agreement with ECD, pursuant to which the Company shall
              purchase certain 25 MW equipment for the manufacture of Strip
              Cells and PV Products, in the form of Exhibit 5.4(a) attached
              hereto (the "Equipment Fabrication Services Agreement").

        (b)   The Company will enter into an Equipment Lease Agreement with
              United Solar, pursuant to which the Company will lease certain
              equipment to United Solar, in the form of Exhibit 5.4(b)
              attached hereto (the "Equipment Lease").

      5.5  Technology.

        (a)   ECD and the Company will enter into an ECD/Bekaert ECD Solar
              Systems LLC License Agreement, pursuant to which ECD and the

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              Company will grant each other certain intellectual property
              rights, in the form of Exhibit 5.5 (a) attached hereto (the
              "ECD-BESS Agreement").

        (b)   NVB and United Solar will enter into an NVB/United Solar
              Systems Corp. License Agreement, pursuant to which NVB and
              United Solar will grant each other certain intellectual
              property rights, in the form of Exhibit 5.5(b) (the
              "NVB-United Solar Agreement").

        (c)   United Solar and the Company will enter into a United Solar
              Systems Corp.-Bekaert ECD Solar Systems LLC License Agreement,
              pursuant to which United Solar and the Company will grant each
              other certain intellectual property rights, in the form of
              Exhibit 5.5(c) attached hereto (the "United Solar-BESS
              Agreement").

        (d)   United Solar and the Company will enter into a Research and
              Development Agreement, in the form of Exhibit 5.5(d) (the "R&D
              Agreement").

      5.6  Services  Agreement.  The  Company  will enter into a  Services
Agreement with United Solar, in the form of Exhibit 5.6 (the "Services
Agreement").

      5.7  Employee Lease Agreements.
           -------------------------

        (a)   The Company will enter into an Employee Lease Agreement with
              United Solar, in the form of Exhibit 5.7(a) (the "United Solar
              Employee Lease Agreement").

        (b)   The Company will enter into an Employee Lease Agreement with
              Bekaert, in the form of Exhibit 5.7(b) (the "Bekaert Employee
              Lease Agreement").

      5.8  Bekaert/BESS Subscription Agreement. Bekaert, United Solar and the
Company will enter into a Subscription Agreement pursuant to which Bekaert will
purchase an additional Membership Interest in the Company upon the events
described therein, in the form of Exhibit 5.8 (the "Bekaert/BESS Subscription
Agreement").

      5.9  Unification Agreement. Bekaert and United Solar will enter into a
Unification Agreement pursuant to which Bekaert will agree to contribute its
interest in the Company to United Solar in return for an additional interest in
United Solar, in the form of Exhibit 5.9 (the "Unification Agreement").

      5.10 Noncompetition   Agreement.  ECD, Bekaert and NVB will enter into  a
Noncompetition Agreement, in the form of Exhibit 5.10 (the "Noncompetition
Agreement").

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<PAGE>

      5.11 Additional Interest Agreement.  Bekaert, United Solar and ECD will
enter into an Additional  Interest  Agreement,  in the form of Exhibit 5.11 (the
"Additional Interest Agreement").

6.         REPRESENTATIONS AND WARRANTIES OF ECD
           --------------------------------------

      ECD represents and warrants to Bekaert that the following statements
contained in this Section 6 are true, complete and correct each of which are
independently material and may be relied upon without regard to any
investigation by Bekaert:

      6.1  Organization; Authorization. United Solar is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Delaware. United Solar has all requisite corporate power and authority to
execute, deliver and perform this Agreement and each other agreement, instrument
and document to be executed and delivered by or on behalf of United Solar in
connection herewith. The execution and delivery of this Agreement and each other
agreement, instrument and document to be executed by United Solar hereunder have
been duly and validly authorized and approved by United Solar's board of
directors, and no other corporate proceedings on the part of United Solar are
necessary to authorize the execution and delivery by United Solar of this
Agreement and the related documents. This Agreement and each agreement, document
and instrument executed and delivered by United Solar pursuant to this Agreement
constitutes, or when executed and delivered will constitute, valid and binding
obligations of United Solar enforceable in accordance with their terms.

      ECD has all requisite corporate power and authority to execute, deliver
and perform this Agreement and each other agreement, instrument and document to
be executed and delivered by or on behalf of ECD in connection herewith. The
execution and delivery of this Agreement and each other agreement, instrument
and document to be executed by ECD hereunder have been duly and validly
authorized and approved by ECD's board of directors, and no other corporate
proceedings on the part of ECD are necessary to authorize the execution and
delivery by ECD of this Agreement and the related documents. This Agreement and
each agreement, document and instrument executed and delivered by ECD pursuant
to this Agreement constitutes, or when executed and delivered will constitute,
valid and binding obligations of ECD enforceable in accordance with their terms.

      6.2  Qualification. United Solar is duly qualified or licensed to do
business as a foreign corporation in, and is in good standing in, each
jurisdiction in which the nature of its business or the ownership of its
properties requires it to be so qualified or licensed, where its failure to be
so qualified or licensed would not have a material adverse effect.

      6.3  Capital Stock; Beneficial Ownership.
           -----------------------------------
                                      7

<PAGE>

        (a)   Capital Stock. The authorized capital stock of United Solar
consists of 6,300,500 shares, of which 6,000,500 shares are Common Stock, par
value one cent ($.01) per share, and 300,000 shares of Convertible Common Stock,
par value one cent ($.01) per share. The Common Stock is divided into three
series, consisting of 3,000,000 shares of Series A Common Stock, 3,000,000
shares of Series B Common Stock and 500 shares of Series C Common Stock. The
parties shown on Schedule 6.3(a) are the record and beneficial owners of the
United Solar shares shown on such schedule. All of the issued and outstanding
United Solar shares have been duly authorized and validly issued, are fully paid
and non-assessable, and have been issued in compliance with (and since issuance,
have not been transferred except in compliance with) all applicable federal and
state securities laws and any preemptive rights, rights of first refusal, or
similar rights. Except as set forth on Schedule 6.3(a), there does not exist nor
is there outstanding any right or security granted or issued to any person or
entity to cause United Solar to issue or sell any shares of capital stock of
United Solar to any person or entity (including, without limitation, any stock
option, warrants, rights, commitments, convertible debt obligation, subscription
for stock or securities convertible into stock of United Solar, or any other
similar right, security, instrument or agreement). There are no voting trusts,
voting agreements, proxies or other agreements, instruments or undertakings with
respect to the voting of the United Solar shares.

        (b)   Ownership. ECD owns beneficially and of record its shares in
United Solar free and clear of any Liens. Upon consummation of the transactions
contemplated hereby, ECD will own beneficially and of record 81% of the issued
and outstanding shares in United Solar and Bekaert will own 19% of such shares.

      6.4  Subsidiaries. Schedule 6.4 sets forth for each of United Solar's
subsidiaries (the "Subsidiary" or collectively, the "Subsidiaries"): (a) the
number and class of authorized shares of capital stock or membership interest,
(b) the number of issued and outstanding shares of capital stock, the names of
the holders thereof, and the number of shares of capital stock held by each such
holder, and (c) the directors and officers of each Subsidiary. Each Subsidiary
is a corporation duly organized, validly existing and in good standing under the
laws of the state of incorporation. Each Subsidiary is duly qualified or
licensed to do business as a foreign corporation in, and is in good standing in,
each jurisdiction in which the nature of its business or the ownership of its
properties requires it to be so qualified or licensed, where its failure to be
so qualified or licensed would not have a material adverse effect. All of the
issued and outstanding shares of capital stock of each Subsidiary have been duly
authorized and are validly issued, fully paid and non-assessable. The
Subsidiaries are owned of record and beneficially as indicated on Schedule 6.4
hereto, free and clear of any taxes, Liens, options, warrants, purchase rights,
conversion rights, exchange rights, or other contracts or commitments that could
require the stockholder to sell, transfer, or otherwise dispose of shares of
capital stock of any Subsidiary or that could require any Subsidiary to issue,
sell, or otherwise cause to become outstanding any of its shares of capital
stock. There are no outstanding equity appreciation, profit participation, or
similar rights with respect to the Subsidiaries. There are no voting trusts,
proxies, or other

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agreements or understandings with respect to the voting of any shares of capital
stock of the Subsidiaries.

      6.5  Governmental Authorities; Consents. Except for the applicable
requirements of the HSR Act, neither United Solar, ECD nor any Subsidiary is
required to submit any notice, report or other filing with any Governmental
Authority in connection with its execution, delivery or performance of this
Agreement or any other document, instrument or agreement to be executed and
delivered by it in connection herewith and the consummation of the transaction
contemplated hereby, and such execution, delivery and performance: (a) will not
violate any Law by which United Solar, ECD or any Subsidiary is bound, or any
agreement or Approval to which United Solar, ECD or any Subsidiary is a party,
(b) will not violate any provision of the Certificate of Incorporation or the
By-Laws of United Solar, ECD or any Subsidiary, and (c) will not result in a
breach or violation of, or constitute a default under, or give rise to a right
of any party to accelerate, modify or terminate, any contract, agreement,
instrument or indenture to which United Solar, ECD or any Subsidiary is a party.
No consent, approval or authorization of any Governmental Authority or any other
person is required to be obtained by United Solar, ECD or any Subsidiary in
connection with its execution, delivery and performance of this Agreement or any
other document, instrument, or agreement to be executed and delivered by United
Solar, ECD or any Subsidiary in connection herewith.

      6.6  Real and Personal Property.
           --------------------------
        (a)   Real Property. (i) Schedule 6.6(a) identifies (A) all of the real
property presently owned by United Solar and/or the Subsidiaries (collectively,
the "Owned Real Property"), and (B) all real property presently demised or
proposed to be demised by a lease or sublease (collectively, the "Leases") to
United Solar or the Subsidiaries or otherwise occupied by United Solar or the
Subsidiaries (collectively, the "Leased Real Property," and together with the
Owned Real Property, the "Real Property").

              (ii)  Each Lease is in full force and effect, and United Solar or
the Subsidiaries hold a valid and existing leasehold interest under each of the
Leases to which it is a party for the terms set forth therein, respectively.
Neither United Solar nor any Subsidiary is in default under any Lease, and, no
events have occurred and no circumstances exist which, if unremedied, and
whether with or without notice or the passage of time or both, would result in
such a default. United Solar and ECD have made available to Bekaert a complete
and accurate copy of each of the Leases, including all amendments thereto.

              (iii) United Solar and the Subsidiaries own with good title, each
parcel of Owned Real Property identified on Schedule 6.6(a), free and clear of
all Liens.

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              (iv)  All buildings located on the Real Property are in good
condition, suitable for the operation of the business and for the specific
purposes for which they are intended to be used.

              (v)   The Real Property is presently zoned to permit the current
use of the Real Property, and said zoning is pursuant to statute or ordinance,
not pursuant to any variance or conditional permit granted with respect to the
Real Property, and does not require any further approval nor any other action by
United Solar or the Subsidiaries. There are no contemplated or pending zoning
changes that would affect the Real Property.

              (vi)  The Real Property, and the use, operation, and maintenance
thereof, are not in violation of any restrictive covenant, agreement or permit
applicable thereto, or of any building code, ordinance, statute, regulation or
requirement of any Governmental Authority having jurisdiction thereof, and
neither United Solar nor any Subsidiary have received any notice regarding any
such violation.

        (b)   Personal Property. Except as set forth on Schedule 6.6(b)(1),
 United Solar and the Subsidiaries have good, marketable and indefeasible title
 to all of their assets, free and clear of all Liens or sale agreements
 whatsoever. The United Solar Contributed Assets: (i) include all assets and
 properties (including leasehold interests) (x) used or held for use by United
 Solar to conduct its PV Products and PV Systems business as currently
 conducted, and (y) necessary to operate the Company's PV Products and PV
 Systems business as contemplated by this Agreement, (ii) are in good repair,
 have been well maintained, are in good operating condition, are fit for
 continued use in the Company's business after the Closing Date without
 interruption and do not require any material modifications or repairs, and
 (iii) comply in all material respects with all applicable laws, ordinances and
 regulations. Except for the United Solar Contributed Assets, the assets of
 United Solar and the Subsidiaries: (i) include all assets and properties
 (including leasehold interests) (x) used or held for use by United Solar and
 the Subsidiaries to conduct their business as currently conducted, and (y)
 necessary to operate United Solar's and the Subsidiaries' business after the
 Closing of this Agreement, (ii) are in good repair, have been well maintained,
 are in good operating condition, are fit for continued use in United Solar's
 and the Subsidiaries' business after the Closing Date without interruption and
 do not require any material modifications or repairs, and (iii) comply in all
 material respects with all applicable laws, ordinances and regulations.
 Schedule 6.6(b)(2) sets forth the fixed assets and the inventory on hand of
 United Solar and of each Subsidiary.

      6.7  Financial Statements.
           --------------------
        (a)   United Solar has delivered to Bekaert the following financial
statements, copies of which are attached hereto as Schedule 6.7:

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              (i)   Audited balance sheets of United Solar and its
      consolidated Subsidiaries for fiscal years ending on December 31, 1998 and
      1997 and statements of income, retained earnings and cash flows for the
      years then ended.

              (ii)  A balance sheet of United Solar and its consolidated
      Subsidiaries for the fiscal year ending December 31, 1999 (the "Interim
      Balance Sheet") and statements of income, retained earnings and cash flows
      for the period then ended.

      Said financial statements have been prepared in accordance with generally
accepted accounting principles applied consistently during the periods covered
thereby, are complete and correct and present fairly the financial condition of
United Solar and each Subsidiary at the dates of said statements and the results
of its operations for the periods covered thereby.

        (b)   As of the date of the Interim Balance Sheet, neither United
Solar nor the Subsidiaries had liabilities of any nature, whether accrued,
absolute, contingent or otherwise, asserted or unasserted, known or unknown
(including without limitation, liabilities as guarantor or otherwise with
respect to obligations of others, liabilities for taxes due or then accrued or
to become due, or contingent or potential liabilities relating to activities of
United Solar or the Subsidiaries or the conduct of its business prior to the
date of the Interim Balance Sheet regardless of whether claims in respect
thereof had been asserted as of such date), except liabilities stated or
adequately reserved against on the Interim Balance Sheet.

        (c)   As of the Closing Date, neither United Solar nor the
Subsidiaries have liabilities of any nature, whether accrued, absolute,
contingent or otherwise, asserted or unasserted, known or unknown (including
without limitation, liabilities as guarantor or otherwise with respect to
obligations of others, or liabilities for taxes due or then accrued or to become
due or contingent or potential liabilities relating to activities of United
Solar or the Subsidiaries or the conduct of their business prior to the Closing
Date, as the case may be, regardless of whether claims in respect thereof had
been asserted as of such date), except liabilities (i) stated or adequately
reserved against on the Interim Balance Sheet or the notes thereto and (ii)
relating to bona fide accounts payable to third party trade creditors which are
not more than thirty (30) days past due and which have been incurred after the
date of the Interim Balance Sheet in the ordinary course of business of United
Solar or the Subsidiaries consistent with the terms of this Agreement.

      6.8  Taxes.
           -----
        (a)   United Solar and each Subsidiary has paid or caused to be paid
all federal, state, local, foreign, and other taxes, including without
limitation, income taxes, estimated taxes, alternative minimum taxes, excise
taxes, sales taxes, use taxes, value-added taxes, gross receipts taxes,
franchise taxes, capital stock taxes, employment and payroll-related taxes,
withholding taxes, stamp taxes, transfer taxes, windfall profit taxes,
environmental taxes and property taxes,

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whether or not measured in whole or in part by net income, and all deficiencies,
or other additions to tax, interest, fines and penalties owed by it
(collectively, "Taxes"), owed or required to be paid by it through the date
hereof whether disputed or not. United Solar and each Subsidiary has in
accordance with applicable law filed all federal, state, local and foreign tax
returns required to be filed by it through the date hereof, and all such returns
correctly and accurately set forth the amount of any Taxes relating to the
applicable period.

        (b)   There has not been any audit of any tax return filed by United
Solar or a Subsidiary, no such audit is in progress, and United Solar and the
Subsidiaries have not been notified by any tax authority that any such audit is
contemplated or pending. No extension of time with respect to any date on which
a tax return was or is to be filed by United Solar or a Subsidiary is in force,
and no waiver or agreement by United Solar or a Subsidiary is in force for the
extension of time for the assessment or payment of any Taxes.

        (c)   United Solar has never been (or has ever had any liability for
unpaid Taxes because it once was) a member of an "affiliated group" (as defined
in Section 1504(a) of the Code). United Solar has never filed, and has never
been required to file, a consolidated, combined or unitary tax return with any
other entity. Neither United Solar nor the Subsidiaries owns or has ever owned a
direct or indirect interest in any trust, partnership, corporation or other
entity, other than United Solar's ownership of the Subsidiaries. United Solar is
not a party to any tax sharing agreement.

      6.9  Accounts Receivable. Schedule 6.9 attached hereto lists all of the
accounts receivable of United Solar and each Subsidiary as of February 23, 2000,
and all of the accounts receivable shown or reflected thereon are bona fide,
valid and enforceable claims, fully collectible and subject to no setoff or
counterclaim. All accounts receivable contained in the United Solar Contributed
Assets are collectable in full without any set-off within sixty (60) days after
the Closing Date.

      6.10 Ordinary Course. Since the date of the Interim Balance Sheet, United
Solar and the Subsidiaries have conducted their business only in the ordinary
course and consistently with their prior practices, including, without
limitation, the collection of accounts receivable and the payment of accounts
payable within periods consistent with past practices.

      6.11 Intellectual Property.
           ---------------------
        (a)   Subject to the existing agreements listed in Schedule 6.11(e)
hereof, United Solar and each Subsidiary have exclusive ownership of, or valid
license to use, all patents, copyrights, trade secrets, trademarks, know how,
computer software, licenses, service marks, trade or product names, company
names, logos, customer lists, mailing lists, sales and advertising materials,
engineering information, technology, development rights, drawings and designs,
files and shop notes, customer specifications, supplier information,
manufacturing or

                                      12

<PAGE>

other processes, systems, data compilations, research results or other
proprietary rights used by United Solar and the Subsidiaries in the PV
field (collectively, "Intellectual Property"). All of the rights of United
Solar, ECD and the Subsidiaries in the Intellectual Property may be freely
licensed or sublicensed subject to the rights of third parties set forth in the
existing agreements listed in Schedule 6.11(e). United Solar, ECD and the
Subsidiaries have not been notified of any claims or demands by any other person
pertaining to any of the Intellectual Property, and no proceedings have been
instituted, or to ECD's Knowledge are threatened, which challenge the rights of
United Solar, ECD or the Subsidiaries in respect thereof. No proceeding charging
United Solar, ECD or a Subsidiary with infringement has been filed or to ECD's
Knowledge is threatened to be filed relating to the Intellectual Property.

        (b)   All patents, patent applications, trademark registrations,
trademark applications and registered copyrights included in the Intellectual
Property are identified on Schedule 6.11(b) and have been duly registered in,
filed in or issued by the United States Patent and Trademark Office, the United
States Register of Copyrights, or the corresponding offices of other
jurisdictions and have been properly maintained and renewed in accordance with
all applicable provisions of law and administrative regulations of the United
States and each such jurisdiction.

        (c)   All licenses or other agreements under which ECD, United Solar
and/or the Subsidiaries are granted rights in any Intellectual Property are
listed in Schedule 6.11(c). The only obligation of United Solar to pay royalties
to third parties resides in the Sohio Partnership Termination Agreement of June
2, 1986. Any and all royalties received by United Solar as a result of
sub-licensing any Intellectual Property may be retained by United Solar without
any payment to ECD. All said licenses or other agreements are in full force and
effect, and there is no material default by any party thereto.

        (d)   All licenses or other agreements under which United Solar, the
Subsidiaries and/or the Company has granted rights to others in any Intellectual
Property and the royalties thereunder are listed in Schedule 6.11(d).

        (e)   All licenses or other agreements under which ECD has granted
intellectual property rights to others applicable in the PV field (other than
routine march-in rights included in government contracts) are listed in Schedule
6.11(e).

      6.12 Litigation. There is no litigation or governmental or administrative
proceeding or investigation pending or, to ECD's Knowledge, threatened against
United Solar or the Subsidiaries which adversely effect United Solar's or the
Subsidiaries' prospects, financial condition, assets or business, or would
prevent or hinder the consummation of the transactions contemplated by this
Agreement or the transactions contemplated hereby. There is no state of facts or
event which could reasonably be expected to form the basis for such a claim,
litigation, investigation or proceeding. There is no arbitration award,
judgment, order, decree or similar

                                      13

<PAGE>

restriction outstanding against United Solar or the Subsidiaries relating to the
business, properties or assets of United Solar or the Subsidiaries. There is no
litigation or governmental or administrative proceeding or investigations
pending or, to ECD's Knowledge, threatened against United Solar or the
Subsidiaries regarding customs, tariff or non-tariff regulations.

      6.13 Contracts.  Schedule 6.13 contains a complete and accurate list of:

        (a)   each Contract to which United Solar or any Subsidiary is a
party or by which it is bound, involving amounts in excess of Twenty-Five
Thousand US Dollars (US$25,000) or which cannot be canceled without penalty by
United Solar or any Subsidiary on less than sixty (60) days' notice;

        (b)   all loan, financing, security, credit or other Contracts
evidencing or relating to indebtedness, guarantees, or Liens of United Solar and
any Subsidiary in excess of Twenty-Five Thousand US Dollars (US$25,000) in each
case;

        (c)   all Contracts with  distributors,  dealers or sales
representatives of United Solar and any Subsidiary;

        (d)   all  management,  employment,  or agency  Contracts  and
collective bargaining Contracts of United Solar and any Subsidiary;

        (e)   all  Contracts  providing  employee  benefits not listed
in Schedule 6.19 of United Solar and any Subsidiary;

        (f)   all Contracts which contain an obligation of
confidentiality with respect to information furnished by United Solar or any
Subsidiary to a third party or received by United Solar or any Subsidiary from a
third party;

        (g)   all Contracts containing covenants limiting the freedom of
United Solar or any Subsidiary to compete in any line of business or with any
Person or in any geographic area or market and not already disclosed in another
Schedule to this Agreement;

        (h)   all Contracts relating to patents, trademarks, trade names
or copyrights or applications for any thereof, inventions, trade secrets or
other proprietary information of United Solar and any Subsidiary not already
disclosed on Schedule 6.11;

        (i)   all Contracts for the past or present disposal of waste of
United Solar and any Subsidiary involving amounts in excess of Twenty-Five
Thousand US Dollars (US$25,000) in each case;

                                      14

<PAGE>

        (j)   all Contracts between ECD and United Solar or their
respective Affiliates, officers, directors, consultants or employees (or
relatives of any of the foregoing);

        (k)   all other Contracts entered into other than in the
ordinary course of business consistent with past practices, including, but not
limited to, Contracts (i) with suppliers for the purchase of goods or services
in excess of normal requirements or at prices in excess of the current market
price, (ii) for the sale by United Solar or any Subsidiary of goods or services
at prices not reasonably calculated to produce gross profit margins consistent
with those achieved by United Solar or any Subsidiary during its three prior
fiscal years, or (iii) which contain terms or conditions which United Solar or
any Subsidiary cannot reasonably expect to fulfill in their entirety;

        (l)   All Contracts between and among Canon and/or any of its
subsidiaries, on the one hand, and United Solar and/or any of the Subsidiaries
on the other hand, whether or not also with any other Person; and

        (m)   Agreements and understandings with Sovlux PV (the ECD-
KVANT (USSR) Joint Venture) and Suryovonics (the ECD-Indian Joint Venture) are
as follows:

              (i)   ECD-KVANT  (USSR)  License  Agreement  ("USSR
              Agreement"), January 11, 1990.  This  USSR  Agreement
              was executed concurrently  with  an agreement between
              ECD and KVANT establishing a joint venture ("Sovlux")
              in the (now  former)  USSR.  Pursuant to this USSR
              Agreement,  ECD  granted to the joint  venture  an
              exclusive, royalty-bearing license under ECD's
              present  and  future patents  and   technology
              to  make   photovoltaic   products ("Licensed
              Products") in the USSR and sell  worldwide  except
              in Japan,  India and in the United  States only
              through  ECD.  Licensed   Products  under  this
              Agreement  were  defined  as materials,  devices,
              and  apparatus  employing  one  or  more
              photovoltaic cells.

              (ii)  Revised Memorandum of Understanding ("MOU"),
                    September 13, 1988.  This MOU follows an earlier
                    Memorandum of Understanding in 1986 in which ECD
                    and an Indian investment group expressed their
                    intent to establish an Indian joint venture with
                    40% of the equity held by ECD and 60% by the
                    investment group. Under the MOU, ECD agreed to
                    grant to the joint venture an exclusive license to

                                      15
<PAGE>

                    manufacture in India and sell worldwide under ECD's
                    present and future photovoltaic patents.

United Solar and the Subsidiaries have delivered to Bekaert accurate and
complete copies of each such written Contract, and an accurate and complete
written description of each such oral Contract, in each case with all
modifications and amendments thereto. Since December 31, 1998, there has been no
modification or termination of any Contract under circumstances which could
reasonably be expected to have a material adverse effect on United Solar's or
the Subsidiaries' business as conducted as of the Closing Date.

      6.14 Compliance with Contracts. Except as set forth on Schedule 6.14, with
respect to the Contracts to which United Solar or the Subsidiaries are a party
or by which they are bound which are required to be disclosed on any Schedule to
this Agreement:

        (a)   neither  United Solar,  nor any Subsidiary is in default under or
in violation of any thereof; and

        (b)   no event has occurred which, with notice or lapse of time
or both, would constitute such a default or violation.

Neither United Solar, ECD nor any Subsidiary has received written notice of a
breach or claimed breach by United Solar or any Subsidiary or termination of any
of the foregoing. To ECD's Knowledge, there is no default under or any violation
of any of the foregoing by any other party thereto.

      6.15 Compliance with Laws. United Solar and the Subsidiaries are in
compliance with all applicable statutes, ordinances, orders, judgments, decrees,
rules and regulations promulgated by any federal, state, municipal entity,
agency, court or other governmental authority which apply to United Solar or the
Subsidiaries or to the conduct of their business, and neither United Solar nor
the Subsidiaries have received notice of a violation or alleged violation of any
such statute, ordinance, order, rule or regulation.

      6.16 Insurance. There are in full force and effect all liability and
casualty insurance policies, necessary to properly insure the physical
properties and assets of United Solar and the Subsidiaries, all as set forth in
Schedule 6.16 attached hereto. Said insurance policies and arrangements are in
full force and effect, all premiums with respect thereto are currently paid, and
United Solar and the Subsidiaries are in compliance in all material respects
with the terms thereof. Said insurance is adequate and customary for the
business engaged in by United Solar and the Subsidiaries and are sufficient for
compliance by United Solar and the Subsidiaries with all requirements of law and
all agreements and leases to which United Solar and the Subsidiaries are a
party.

                                      16
<PAGE>

      6.17 Warranty or Other Claims. There are no existing or threatened product
liability, warranty or other similar claims, or any facts upon which a claim of
such nature could be based, against United Solar or the Subsidiaries for
products or services which are defective or fail to meet any product or service
warranties.

      6.18 Permits. United Solar and the Subsidiaries have obtained all permits,
registrations, licenses, franchises, certifications, authorizations, registries
and other approvals (collectively, the "Approvals") required from Governmental
Authorities in order for United Solar and the Subsidiaries to conduct their
business, which Approvals are valid and in full force and effect, and United
Solar and the Subsidiaries are operating in compliance therewith. All requests
for renewals of the Approvals have been timely filed.

      6.19 Employee Benefit Programs.
           -------------------------
        (a)   Schedule 6.19 lists every Employee Program (as defined below)
that has been maintained (as defined below) by United Solar or the Subsidiaries
at any time during the six-year period ending on the Closing Date.

        (b)   Each Employee Program which has ever been maintained by United
Solar or the Subsidiaries and which has at any time been intended to qualify
under Section 401(a) or 501(c)(9) of the Code has received a favorable
determination or approval letter from the Internal Revenue Service ("IRS")
regarding its qualification under such section and has, in fact, been qualified
under the applicable section of the Code from the effective date of such
Employee Program through and including the Closing Date (or, if earlier, the
date that all of such Employee Program's assets were distributed). No event or
omission has occurred which would cause any such Employee Program to lose its
qualification or otherwise fail to satisfy the relevant requirements to provide
tax-favored benefits under the applicable Code section (including, without
limitation Code Sections 105, 125, 401(a) and 501(c)(9)). Each asset held under
any such Employee Program may be liquidated or terminated without the imposition
of any redemption fee, surrender charge or comparable liability. No partial
termination (within the meaning of Section 411(d)(3) of the Code) has occurred
with respect to any Employee Program.

        (c)   Neither United Solar nor any Subsidiary knows, nor should any of
them have reason to know, of any failure of any party to comply with any laws
applicable to the Employee Programs that have been maintained by United Solar or
the Subsidiaries. With respect to any Employee Program ever maintained by United
Solar or the Subsidiaries, there has occurred no (i) "prohibited transaction,"
as defined in Section 406 of the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or Section 4975 of the Code, or breach of any duty
under ERISA or other applicable law (including, without limitation, any health
care continuation requirements or any other tax law requirements, or conditions
to favorable tax treatment, applicable to such plan), which could result,
directly or indirectly, in any taxes, penalties or other liability to United
Solar, the Subsidiaries or the Company, (ii) failure to

                                      17

<PAGE>

comply with any provision of ERISA, other applicable law, or any agreement, or
(iii) non-deductible contribution, which in the case of (i), (ii) or (iii),
could subject United Solar or the Subsidiaries to liability either directly or
indirectly (including, without limitation, through any obligation of
indemnification or contribution) for any damages, penalties or taxes, or any
other loss or expense. No litigation, arbitration, or governmental
administrative proceeding (or investigation) or other proceeding (other than
those relating to routine claims for benefits) is pending or threatened with
respect to any such Employee Program. All payments and/or contributions required
to have been made (under the provisions of any agreements or other governing
documents or applicable law) with respect to all Employee Programs ever
maintained by United Solar or the Subsidiaries, for all periods prior to the
Closing Date, either have been made or have been accrued.

        (d)   Neither United Solar, nor any Subsidiary (i) has ever maintained
any Employee Program which has been subject to title IV of ERISA or Code Section
412 or ERISA Section 302 (including, but not limited to, any Multiemployer Plan)
or (ii) has ever provided health care or any other non-pension benefits to any
employees after their employment is terminated (other than as required by part 6
of subtitle B of title I of ERISA) or has ever promised to provide such
post-termination benefits.

        (e)   With respect to each Employee Program maintained by United Solar
or the Subsidiaries within the six years preceding the Closing Date, complete
and correct copies of the following documents (if applicable to such Employee
Program) have previously been delivered to Bekaert: (i) all documents embodying
or governing such Employee Program, and any funding medium for the Employee
Program (including, without limitation, trust agreements) as they may have been
amended; (ii) the most recent IRS determination or approval letter with respect
to such Employee Program under Code Sections 401(a) or 501(c)(9), and any
applications for determination or approval subsequently filed with the IRS;
(iii) the six most recently filed IRS Forms 5500, with all applicable schedules
and accountants' opinions attached thereto; (iv) the summary plan description
for such Employee Program (or other descriptions of such Employee Program
provided to employees) and all modifications thereto; (v) any insurance policy
(including any fiduciary liability insurance policy) related to such Employee
Program; (vi) any registration statement or other filing made pursuant to any
federal or state securities law; (vii) all correspondence to and from any state
or federal agency within the last six years with respect to such Employee
Program; (viii) any documents evidencing any loan to an Employee Program that is
a leveraged employee stock ownership plan; (ix) the six most recent actuarial
valuation reports completed with respect to each such Employee Program; and (x)
all other materials reasonably necessary for the Company to perform any of its
responsibilities with respect to any Employee Program subsequent to the Closing
(including, without limitation, health care continuation requirements).

        (f)   Each Employee Program required to be listed on Schedule 6.19 may
be amended, terminated, or otherwise modified by United Solar or the
Subsidiaries to the greatest

                                      18

<PAGE>

extent permitted by applicable law, including the elimination of any and all
future benefit accruals under any Employee Program and no employee
communications or provision of any Employee Program document has failed to
effectively reserve the right of United Solar or the Subsidiary to so amend,
terminate or otherwise modify such Employee Program.

        (g)   Each Employee Program ever maintained by United Solar and the
Subsidiaries (including each non-qualified deferred compensation arrangement)
has been maintained in compliance with all applicable requirements or federal
and state securities laws including, without limitation, the requirements that
the offering of interests in such Employee Program be registered under the
Securities Act of 1933 and/or state "Blue Sky" laws.

        (h)   Each Employee Program ever maintained by United Solar and the
Subsidiaries has complied with the applicable notification and other applicable
requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985
("COBRA"), Health Insurance Portability and Accountability Act of 1996, the
Newborns' and Mothers' Health Protection Act of 1996, and the Mental Health
Parity Act 1996.

              (i)   For purposes of this Section:

                    (1) "Employee Program" means (A) all employee benefit plans
                        within the meaning of ERISA Section 3(3), including, but
                        not limited to, multiple employer welfare arrangements
                        (within the meaning of ERISA Section 3(40)), plans to
                        which more than one unaffiliated employer contributes
                        and employee benefit plans (such as foreign or excess
                        benefit plans) which are not subject to ERISA; and (B)
                        all stock option plans, stock purchase plans, bonus or
                        incentive award plans (including training loans),
                        severance pay policies or agreements, deferred
                        compensation agreements, supplemental income
                        arrangements, vacation plans, and all other employee
                        benefit plans, agreements, and arrangements not
                        described in (A) above, including without limitation,
                        any arrangement intended to comply with Code Section
                        120, 125, 127, 129 or 137; and (C) all plans or
                        arrangements providing compensation to employee and
                        non-employee directors. In the case of an Employee
                        Program funded through a trust described in Code Section
                        401(a) or an organization described in Code Section
                        501(c)(9), each reference to such Employee Program shall
                        include a reference to such trust, organization or other
                        vehicle.

                    (2) An entity "maintains" an Employee Program if such entity
                        sponsors, contributes to, or provides (or has promised
                        to provide) benefits under or through such Employee
                        Program, or has any

                                      19
<PAGE>

                        obligation (by agreement or under applicable law) to
                        contribute to or provide benefits under or through such
                        Employee Program, or if such Employee Program provides
                        benefits to or otherwise covers employees of such
                        entity, or their spouses, dependents, or beneficiaries.

      6.20 Environmental Liability.  Except as set forth in Schedule 6.20:

        (a)   The businesses of United Solar and its Subsidiaries have been and
are operated in compliance with all foreign, federal, state and local
environmental protection, health and safety or similar laws, statutes,
ordinances, authorizations, certifications, registrations, approvals,
certificates of compliance, restrictions, licenses, rules, regulations, permit
conditions and legal requirements, including without limitation the Federal
Clean Water Act, Safe Drinking Water Act, Resource Conservation & Recovery Act,
Clean Air Act, Comprehensive Environmental Response, Compensation and Liability
Act, Toxic Substance Control Act, Rivers and Harbors Act, and Emergency Planning
and Community Right to Know, each as amended and currently in effect (together,
"Environmental, Health and Safety Laws").

        (b)   Neither United Solar nor any of its Subsidiaries has caused,
permitted or allowed the generation, treatment, manufacture, processing,
distribution, use, storage, discharge, release, disposal, transport or handling
of any chemicals, pollutants, contaminants, wastes, toxic substances, hazardous
substances, petroleum, petroleum products or any substance listed, described or
defined in, governed by, or regulated under any Environmental, Health and Safety
Law ("Hazardous Substances") at, or into or under any properties adjoining or
adjacent to, any of their properties or facilities in violation of any
Environmental, Health and Safety Law, and, no generation, manufacture,
processing, distribution, use, treatment, handling, storage, discharge, release,
disposal, transport or handling of any Hazardous Substances has occurred at any
property or facility owned, leased or operated by United Solar or any of its
Subsidiaries in violation of any Environmental, Health and Safety Law or which
would require assessment, investigation or removal or remedial action under any
Environmental, Health and Safety Law.

        (c)   No surface or ground water, surface or subsurface soils or strata,
or sediment at or under any facility or premises, currently or formerly owned,
operated or leased by United Solar or any of its Subsidiaries has been
contaminated by any generation, manufacture, processing, distribution, use,
treatment, storage, discharge, release, disposal, transport or handling of any
Hazardous Substances.

        (d)   Neither United Solar nor any of its Subsidiaries has received any
written notice from any Governmental Authority, any employee, agent or
representative of any Governmental Authority, or any other third party, or, to
ECD's Knowledge, any other communication alleging or concerning any request for
information, costs, damages, expenses, penalties or violation by United Solar or
any of its Subsidiaries of, or responsibility or liability of United Solar or
any of

                                      20

<PAGE>

its Subsidiaries under, any Environmental, Health and Safety Law. There are
no pending, or to ECD's Knowledge, threatened claims, suits, actions,
proceedings or investigations with respect to the businesses or operations of
United Solar or any of its Subsidiaries alleging or concerning any violation of
or responsibility or liability under any Environmental, Health and Safety Law,
nor is there any fact or condition that could give rise to such a claim, suit,
action, proceeding or investigation.

        (e)   United Solar and its Subsidiaries are in possession of all
material approvals, permits, licenses, certificates, registrations and similar
type authorizations from all Governmental Authorities under all Environmental,
Health and Safety Laws with respect to the operation of the businesses of
United Solar and its Subsidiaries; there are no pending or, to ECD's Knowledge,
threatened, actions, proceedings or investigations seeking to modify, revoke or
deny renewal of any of such approvals, permits, licenses, certificates,
registrations and authorizations; and there is not any fact or condition that
could give rise to any action, proceeding or investigation to modify, revoke or
deny renewal of any of such approvals, permits, licenses, certificates,
registrations and authorizations;

        (f)   Without in any way limiting the generality of the foregoing:

              (i)   all off-site locations where United Solar or any of its
                    Subsidiaries has transported, released, discharged, stored,
                    disposed or arranged for the disposal of pollutants,
                    contaminants, hazardous wastes or toxic substances required
                    by law to be disposed at a licensed disposal site are
                    identified in Schedule 6.20;

              (ii)  all current and former underground storage tanks, septic
                    tanks, and cesspools and the operating status, capacity and
                    contents of such tanks and cesspools, located or formerly
                    located on any property owned, leased or operated by United
                    Solar or any of its Subsidiaries are identified in Schedule
                    6.20;

              (iii) there is no asbestos contained in or forming part of any
                    building, building component, structure or office space
                    owned or leased by United Solar or the Subsidiaries; and

              (iv)  no polychlorinated biphenyls ("PCBs") or PCB-containing
                    items are used, stored, or located at any property owned,
                    leased or operated by United Solar or any of its
                    Subsidiaries.

      6.21 Employees; Labor Matters. Schedule 6.21 sets forth the total number
of full-time employees and part-time employees for United Solar and each of its
Subsidiaries. United Solar and the Subsidiaries are not delinquent in payments
to any of their employees for any wages,

                                      21
<PAGE>

salaries, commissions, bonuses or other direct compensation for any services
performed for them to the date hereof or amounts required to be reimbursed to
such employees. Upon termination of the employment of any of said employees,
neither United Solar, nor the Subsidiaries will by reason of the transactions
contemplated under this Agreement or anything done prior to the Closing, be
liable to any of said employees for so-called "severance pay" or any other
payments. United Solar and the Subsidiaries do not have any formal policy,
practice, plan or program of paying severance pay or any form of severance
compensation in connection with the termination of employment.  United Solar and
its Subsidiaries are in compliance with all applicable laws and regulations
respecting labor, employment, fair employment practices, work place safety and
health, terms and conditions of employment, and wages and hours.  There are no
charges of employment discrimination or unfair labor practices, nor are there
any strikes, slowdowns, stoppages of work, or any other concerted interference
with normal operations which are existing, pending or threatened against or
involving United Solar or the Subsidiaries. There are no grievances, complaints
or charges that have been filed against the Company under any dispute
resolution procedure (including, but not limited to, any proceedings under any
dispute resolution procedure under any collective bargaining agreement) that
might have an adverse effect on United Solar or the Subsidiaries or the conduct
of their business, and there is no arbitration or similar proceeding pending and
no claim therefor has been asserted. No collective bargaining agreement is in
effect or is currently being or is about to be negotiated by United Solar or the
Subsidiaries. Neither United Solar, nor its Subsidiaries has received any
information indicating that any of its employment policies or practices is
currently being audited or investigated by any federal, state or local
government agency. As of the Closing Date, there were no existing claims
(whether asserted or unasserted) against United Solar or the Subsidiaries for,
and United Solar or the Subsidiaries have no liabilities in connection with, any
workmen's compensation claims and/or COBRA claims or benefits.

      6.22 Additional  Mexican  Subsidiary's  Representations.   Except  as
set forth on Schedule 6.22:

        (a)   United Solar Mexico does not have a supply agreement with any
Mexican company.

        (b)   United Solar Mexico has a service agreement with lawyers that
              was established in 1992, and the agreements with the auditors
              is made for specific service, such as audits, transference
              price study, tax review, the kind of services are provided for
              event and not by previous agreement.

        (c)   United Solar Mexico has no relationship with any other Mexican
              companies, other than the submaquila carried by Sierra Powder
              Coating S.A. de C.V. (company with a Temporary Import Program
              for Exports), under an official communication issued by the
              Commerce Department of Mexico.

                                      22
<PAGE>

        (d)   United Solar Mexico does not have any PAMA (Administrative
              Procedure in Custom Matters) or products kept as guarantees
              for any Governmental Authority.

        (e)   United Solar Mexico's maquila agreement has not been amended
              to change its purpose. Since 1998, United Solar Mexico has
              been using the same maquila program in accordance with the
              amendments implemented by the Ministry of Commerce, and no
              authorization from Governmental Authorizations to change its
              maquila program has been requested by United Solar Mexico, so
              that there have not been any amendments to the maquiladora
              authorization.

        (f)   All products produced by United Solar Mexico are exported to the
              United States.

        (g)   United Solar Mexico has only the powers of attorney contained
              in notarial deeds numbers 2201, 4709 and 6338 before Notary
              Public number 11 and notarial deed number 5617 before Notary
              Public number 7.

        (h)   The only utilities used by United Solar Mexico are city water,
              electricity, telephone service, water disposal and scrap
              disposal (the "Utilities"), and the agreements for the
              Utilities have the same conditions as provided to any other
              Person in Mexico.

        (i)   The basic salary declared for the payments of contributions to
              the Social Security and the Housing Institute (INFONAVIT) has
              always included all benefits which according to the respective
              applicable laws must be considered.

      6.23 Disclosure. The representations, warranties and statements contained
in this Agreement and in the related agreements and in the certificates,
exhibits and schedules delivered by United Solar or ECD pursuant to this
Agreement to Bekaert do not contain any untrue statement of a material fact,
and, when taken together, do not omit to state a material fact required to be
stated therein or necessary in order to make such representations, warranties or
statements not misleading in light of the circumstances under which they were
made. There are no facts which presently or may in the future have a material
adverse effect on the business, properties, prospects, operations or condition
of United Solar or the Subsidiaries which have not been specifically disclosed
herein or in a Schedule furnished herewith. There is no event or circumstance
which ECD or United Solar has not disclosed to Bekaert in writing which would or
could reasonably be expected to have a material adverse effect on United Solar's
or ECD's ability to perform this Agreement.

                                      23

<PAGE>

7.    REPRESENTATIONS AND WARRANTIES OF BEKAERT
      -----------------------------------------

      Bekaert represents and warrants to ECD that the following statements
contained in this Section 7 are true, complete and correct:

      7.1  Organization; Authorization. Bekaert is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware.
Bekaert has all requisite corporate power and authority to execute, deliver and
perform this Agreement and each other agreement, instrument and document to be
executed and delivered by or on behalf of Bekaert in connection herewith. The
execution and delivery of this Agreement and each other agreement, instrument
and document to be executed by Bekaert hereunder have been duly and validly
authorized and approved by Bekaert's board of directors, and no other corporate
proceedings on the part of Bekaert are necessary to authorize the execution and
delivery by Bekaert of this Agreement and the related documents. This Agreement
and each agreement, document and instrument executed and delivered by Bekaert
pursuant to this Agreement constitutes, or when executed and delivered will
constitute, valid and binding obligations of Bekaert enforceable in accordance
with their terms.

      7.2  Governmental Authorities; Consents. Except for the applicable
requirements of the HSR Act, Bekaert is not required to submit any notice,
report or other filing with any Governmental Authority in connection with
Bekaert's execution, delivery or performance of this Agreement or any other
document, instrument or agreement to be executed and delivered by Bekaert in
connection herewith and the consummation of the transaction contemplated hereby,
and such execution, delivery and performance: (a) will not violate any law by
which Bekaert is bound, or any agreement to which Bekaert is a party, (b) will
not violate any provision of the Certificate of Incorporation or the By-Laws of
Bekaert, and (c) will not result in a breach or violation of, or constitute a
default under, or give rise to a right of any party to accelerate, modify or
terminate, any contract, agreement, instrument or indenture to which Bekaert is
a party. No consent, approval or authorization of any Governmental Authority or
any other Person is required to be obtained by Bekaert in connection with
Bekaert's execution, delivery and performance of this Agreement or any other
document, instrument, or agreement to be executed and delivered by Bekaert in
connection herewith.

      7.3  Litigation. There is no litigation or governmental or administrative
proceeding or investigation pending or, to the knowledge of Bekaert, threatened
against Bekaert which would prevent or hinder the consummation of the
transactions contemplated by this Agreement or the transactions contemplated
hereby. To Bekaert's knowledge, there is no state of facts or event which could
reasonably be expected to form the basis for such a claim, litigation,
investigation or proceeding.

      7.4  Investment. Bekaert (a) understands that the Shares have not been,
and will not

                                      24
<PAGE>

be, registered under the Securities Act, or under any state securities
laws, and are being offered and sold in reliance upon federal and state
exemptions for transactions not involving any public offering, (b) is acquiring
the Shares solely for its own account for investment purposes, not as a nominee
or agent, and not with a view to the distribution thereof, (c) is able to bear
the economic risk and lack of liquidity inherent in holding the Shares, and (d)
is an Accredited Investor as defined in Rule 501 of Regulation D of the
Securities Act.

      7.5  Full Disclosure. The representations, warranties and statements
contained in this Agreement and in the related agreements and in the
certificates, exhibits and schedules delivered by Bekaert pursuant to this
Agreement to United Solar do not contain any untrue statement of a material
fact, and, when taken together, do not omit to state a material fact required to
be stated therein or necessary in order to make such representations, warranties
or statements not misleading in light of the circumstances under which they were
made. To Bekaert's knowledge, there is no event or circumstance which Bekaert
has not disclosed to ECD and United Solar in writing which would or could
reasonably be expected to have a material adverse effect on Bekaert's ability to
perform this Agreement.

8.    COVENANTS OF UNITED SOLAR AND ECD.
      ----------------------------------

      Unless Bekaert otherwise agrees in writing, United Solar and ECD covenant
as follows:

      8.1  Consents of Third Parties. United Solar and ECD shall use reasonable
commercial efforts to obtain any third party consents required to consummate the
transactions contemplated hereunder in accordance with the terms hereof.

      8.2  Conduct of Business. Subject to Section 8.3, from the date hereof
until the Closing Date, United Solar shall conduct its business prudently and in
the ordinary course consistent with past practice.

      8.3  Forbearance  by United  Solar.  From the date  hereof  until the
Closing  Date, United Solar and the Subsidiaries shall not without the consent
of Bekaert:

        (a)   incur any liability other than in the ordinary course of
              business or pay any liability other than current liabilities
              and current maturities of existing long term debt;

        (b)   incur  any  indebtedness  for  borrowed  money  or  assume,
              guarantee  or otherwise become responsible for the obligations
              of any other person;

        (c)   mortgage, pledge, or otherwise encumber any of its assets;

        (d)   sell or transfer  any of its assets  other than sales of
              inventory in the

                                      25
<PAGE>

              ordinary course of business;

        (e)   sell any of the inventory of United Solar or the Subsidiaries
              other than in the ordinary course of business;

        (f)   cancel, release, or assign any  obligations owed to United
              Solar or the Subsidiaries;

        (g)   enter into any leases or contracts except for sales or
              purchases entered into in the ordinary course of business;

        (h)   terminate any leases or contracts or make any material
              changes therein;

        (i)   adopt any new method of accounting;

        (j)   engage in any transactions with ECD or its Affiliates, except
              in the ordinary course of business;

        (k)   Agree to do any of the foregoing.

      8.4  Satisfaction of Conditions. Without limiting the generality or effect
of any provision of Section 10, prior to the Closing Date, United Solar will use
reasonable efforts with due diligence and in good faith to satisfy promptly all
conditions required hereby to be satisfied by United Solar in order to
consummate the transactions contemplated hereby.

9.    COVENANTS OF BEKAERT
      --------------------

      Unless United Solar and ECD otherwise agree in writing, Bekaert covenants
as follows:

      9.1  Consents of Third Parties. Bekaert shall use reasonable commercial
efforts to obtain any third party consents required to consummate the
transactions contemplated hereunder in accordance with the terms hereof.

      9.2  Satisfaction of Conditions. Without limiting the generality or effect
of any provision of Section 10, prior to the Closing Date, Bekaert will use
reasonable efforts with due diligence and in good faith to satisfy promptly all
conditions required hereby to be satisfied by Bekaert in order to consummate the
transactions contemplated hereby.

10.   CLOSING
      -------

      10.1 Conditions to United Solar's and ECD's Obligations. The obligations
of United Solar and ECD to be performed hereunder on the Closing Date are
subject to satisfaction of the

                                      26
<PAGE>

following conditions on or before the Closing Date (or their waiver by United
Solar and ECD):

        (a)   Representations and Warranties True and Accurate as of
              Closing.  The representations and warranties of Bekaert
              contained herein were true and correct as of the date of this
              Agreement and continue to be true and correct as of the
              Closing Date with the same force and effect as though made at
              such time;  provided  however,  that if events  subsequent
              to the date of this Agreement cause any representation or
              warranty  to be incorrect as of the Closing Date,  this
              condition shall nevertheless be deemed to be satisfied if (i)
              Bekaert delivers updated schedules to United  Solar and ECD,
              and  (ii)  all  such  updated  schedules  remain reasonably
              satisfactory to United Solar and ECD;

        (b)   Performance of Obligations of Bekaert.  Bekaert shall have
              completely performed in all respects all of its covenants and
              other conditions hereunder;

        (c)   Form of Documents. All certificates, assignments, documents of
              title and  other documents to be delivered by Bekaert
              hereunder shall be in form and substance reasonably
              satisfactory to United Solar and ECD;

        (d)   Bekaert Certificate.   United  Solar  and  ECD  shall  have
              received  an officer's certificate, in substantially the form
              of  Exhibit 10.1(d) signed by Bekaert;

        (e)   Good Standing.  United Solar and ECD shall have received a
              good standing certificate of Bekaert dated no more than ten
              (10) days prior to the Closing Date from Bekaert's state of
              incorporation;

        (f)   Legal  Action.  There shall be no pending or threatened legal
              action or inquiry which challenges the validity or legality
              of or seeks or could reasonably be expected to prevent,  delay
              or impose conditions on the consummation of any of the
              transactions contemplated by this Agreement;

        (g)   Consents. The Company shall have received all material
              consents, approvals, permits, licenses and registrations of
              all Persons and Governmental Authorities necessary for United
              Solar, ECD and Bekaert to execute, deliver and perform this
              Agreement and all other documents, instruments and agreements
              contemplated herein;

        (h)   Hart-Scott-Rodino.  Any  applicable waiting period under the
              HSR Act, if applicable, relating to the transactions
              contemplated by this Agreement

                                      27
<PAGE>

              shall have expired or been terminated; and

        (i)   Other. United Solar and ECD shall have received each other
              document and obligation required to be delivered or performed
              by Bekaert under the terms of this Agreement as set forth in
              Section 5.

      10.2 Conditions to Bekaert's Obligations. The obligations of Bekaert to be
performed hereunder on the Closing Date are subject to satisfaction of the
following conditions on or before the Closing Date (or their waiver by Bekaert):

        (a)   Representations and Warranties True and Accurate as of
              Closing.  The representations and warranties of ECD contained
              herein were true and correct as of the date of this Agreement
              and continue to be true and correct as of the Closing Date
              with the same force and effect as though made at such time;
              provided however, that if events subsequent to the date of
              this Agreement cause any representation or warranty to be
              incorrect as of the Closing Date, this condition shall
              nevertheless be deemed to be satisfied if (i) ECD delivers
              updated schedules to Bekaert, and (ii) all such updated
              schedules remain reasonably satisfactory to Bekaert;

        (b)   Performance of Obligations of United Solar and ECD.  United
              Solar and ECD shall have completely performed in all respects
              all of their covenants and other conditions hereunder;

        (c)   Material Adverse Facts.  There shall not have occurred after
              the date hereof, any events, facts, or circumstances which
              reflect in any material adverse way on the financial
              condition, assets, liabilities, business, or prospects of
              United Solar and ECD;

        (d)   Form of Documents. All certificates, assignments, documents of
              title and other documents to be delivered by United Solar and
              ECD or their Affiliates hereunder shall be in form and
              substance satisfactory to Bekaert;

        (e)   United Solar and ECD Certificate.  Bekaert shall have received
              officer's certificates from United Solar and ECD, in
              substantially the form of Exhibit 10.2(e);

        (f)   Good Standing.  Bekaert shall have received good standing
              certificates of United Solar and ECD dated no more than ten
              (10) days prior to the Closing Date from United Solar's and
              ECD's state of incorporation;

        (g)   Legal  Action.  There shall be no pending or threatened legal
              action or

                                      28

<PAGE>
              inquiry which challenges the validity or legality of or seeks
              or could reasonably be expected to prevent, delay or impose
              conditions on the consummation of any of the transactions
              contemplated by this Agreement;

        (h)   Consents. The Company shall have received all material
              consents, approvals, permits, licenses and registrations of
              all Persons and Governmental Authorities necessary for United
              Solar, ECD and Bekaert to execute, deliver and perform this
              Agreement and all other documents, instruments and agreements
              contemplated herein;

        (i)   Reischauer  Purchase.  United Solar shall have purchased all
              of the capital stock held by the Reischauer Trust in United
              Solar pursuant to a valid Reischauer Agreement and evidence of
              cancellation of the stock certificates;

        (j)   Hart-Scott-Rodino.  Any applicable waiting period under the
              HSR Act, if applicable, relating to the transactions
              contemplated by this Agreement shall have expired or been
              terminated;

        (k)   Arthur Andersen Opinion.  Bekaert shall have received an
              opinion of Arthur Andersen satisfactory to Bekaert in its
              sole discretion regarding the matters contemplated by this
              Agreement; and

        (l)   Other. Bekaert shall have received each other document and
              obligation required to be delivered or performed by United
              Solar and ECD under the terms of this Agreement as set forth
              in Section 5.

      10.3 Mutual Conditions to Obligations of United Solar, ECD and Bekaert.
The obligations of each of United Solar, ECD and Bekaert to be performed
hereunder on the Closing Date are subject to each of the following conditions
having been satisfied, or waived by them, on or prior to the Closing Date:

        (a)   Governmental Consents. All licenses, permits, authorizations,
              orders and approvals required by a Governmental Authority for
              the execution of this Agreement and the related documents and
              agreements to be signed in connection herewith and the
              consummation of the transactions contemplated hereby and
              thereby shall have been obtained and any applicable waiting
              periods under pertinent statutes and the rules and regulations
              thereunder shall have expired or terminated and no condition
              with respect to the transactions contemplated by this
              Agreement and the related documents and agreements shall have
              been imposed by any Governmental Authorities;

                                      29
<PAGE>

        (b)   Other  Deliveries.  On or before the Closing Date, there shall
              have been delivered the following:

              (i)   The Certificate of Formation of the Company in the State
                    of Delaware;

              (ii)  General bills of sale, assignment and assumption
                    agreements (collectively, the "Bills of Sale");

              (iii) Fully executed copies of the Transaction Agreements;

              (iv)  The share certificates of United Solar in United Solar
                    Mexico, duly endorsed in blank or accompanied by stock
                    powers duly executed in blank, in proper form for
                    transfer to the Company;

              (v)   The share certificates in United Solar for the shares
                    purchased in accordance with Section 4.1 issued to
                    Bekaert and the Canon Agreements shall have been
                    executed and delivered by the respective parties
                    thereto.

        (c)   Canon Closing.  The contemplated purchase of Canon's ownership
              interest in United Solar shall have occurred, and be in form
              and content acceptable to ECD and Bekaert.

      10.4 Closing. If the conditions to the parties' obligations enumerated in
Section 10 are satisfied, consummation of the transactions contemplated hereby
(the "Closing") shall take place on April 6, 2000, at the offices of Brouse
McDowell, Cleveland, Ohio or by the exchange of documents by courier and
facsimile, or on such other date as the parties may agree (the "Closing Date").
The transfers and deliveries described in this Section 10 shall be mutually
interdependent and regarded as occurring simultaneously; and no such transfer or
delivery shall become effective until all such other transfers and deliveries
have also been consummated.

11.     COVENANTS; TERMINATIONS
        -----------------------

      11.1 Aperature Warranty.
           ------------------
        (a)   ECD hereby represents and warrants to Bekaert, which
              representation and warranty shall survive the Closing and
              indefinitely thereafter that a stable aperture-area efficiency
              of 7.5% will be demonstrated for modules all fabricated by
              United Solar with the 25MW Equipment.  In determining whether
              such efficiency is demonstrated, measurements will be carried

                                      30
<PAGE>

              out, on representative samples, at 25(Degree)C under AMI.5
              illumination.  The modules (typically 4 sq. ft in area) will
              be light-soaked for 600 hours under one-sun condition at
              50(Degree)C prior to the efficiency measurement.  ECD further
              represents and warrants, based on the foregoing efficiency
              value, United Solar and the Company's products will have a
              rated power output depending on the aperture area of the
              product; provided that any reduction in such rated power
              output is not caused by poor workmanship and/or use of
              improper material or processes by United Solar or the Company.

        (b)   Based on the above efficiency value, United Solar and the
              Company's products will have a rated power output depending
              on the aperture area of the product.  If either, (i) an
              evaluation of performance as described above and feedback from
              long term field test data, or (ii) a deficiency in the
              stabilized module efficiency of the products manufactured,
              such as by way of example and not limitation, product returns
              in excess of five percent (5%) of sales per quarter, causes
              the business of United Solar and the Company to not be viable
              or materially impaired (e.g., sales, as a result of such
              product performance, have declined for four consecutive
              quarters, or product returns exceed twenty percent (20%) of
              sales per year); then the future of United Solar and the
              Company will be addressed in the following stages:

              (i)   A first stage in which the problem i  identified and a
                    solution is sought; in this case, all costs associated
                    therewith will be reimbursed by ECD through a preferred
                    distribution by United Solar in  accordance  with the
                    provisions of Section 1(d) of the Unification Agreement,
                    if such damages are incurred prior to Unification, or
                    in accordance with the provisions of Section 2.5 of
                    the Close Corporation Shareholder Agreement, if such
                    damages are incurred after Unification;

              (ii)  A second stage if the problems persist for a prolonged
                    period of time (two (2) additional consecutive quarters)
                    and significant expenses (e.g. greater than Two Million
                    Five Hundred Thousand US Dollars (US$2,500,000) are
                    incurred; in this case, there will be a compensation by
                    ECD (pursuant to the preferred distribution procedure in
                    (i) above) for all costs associated with identifying the
                    problem and seeking a solution as well as to make up for
                    the loss of revenue or, at Bekaert's option to acquire
                    an additional percentage membership interest in the
                    Company (if prior to Unification) or United Solar (if
                    after Unification) to compensate

                                      31
<PAGE>

                    for such loss of revenue for the period until the
                    problem is solved and the solution is implemented, said
                    additional percentage interest to be determined as
                    follows:

                        A.    If prior to Unification, Bekaert shall receive,
                              as compensation for such loss of revenue, an
                              additional percentage membership interest in the
                              Company equal to the percentage interest which
                              Bekaert would have received in United Solar,
                              as determined under (B) below, if Unification
                              would have already occurred (i.e., United Solar
                              will be valued for this purpose as if the
                              operations  of the Company and United Solar were
                              combined at such time) multiplied by 1.83.

                        B.    If after Unification, Bekaert shall receive, as
                              compensation for such loss of revenue, additional
                              shares in United Solar which shall equate to,
                              immediately after such issuance, a percentage
                              interest in United Solar equal to the amount which
                              Bekaert is entitled to be compensated divided by
                              the fair market value of United Solar at such
                              time;

              (iii) A third stage if the problem cannot be fixed; in this
                    case, Bekaert will at its option, either (i) receive
                    title to all the equipment of United Solar and the
                    Company and ECD will enter into an R&D agreement at a
                    reduced rate (i.e. at ECD's cost) until such equipment
                    is made operational for other purposes than PV
                    manufacturing or (ii) liquidate the Company and/or
                    United Solar in which case ECD and Bekaert will each
                    receive an undivided 50% joint interest in and to all
                    intellectual property and thereafter Bekaert will
                    receive as preferential liquidating distributions, prior
                    to any amounts being distributed to ECD, an aggregate
                    amount up to Forty-Two Million US Dollars
                    (US$42,000,000) with any liquidating amounts being
                    distributed thereafter being in accordance with the
                    parties' ownership percentages at such time.

        (c)   All current modules manufactured and sold by United Solar are
              warranted to have a certain rated power.

        (d)   The representations and warranties of Section 11.1 shall
              survive the Closing and indefinitely thereafter. The
              provisions of Section 12 shall not apply to the provision of
              this Section 11.1. In the enforcement of Section 11.1 Bekaert
              will be permitted to recover reasonable attorney's fees.

                                      32
<PAGE>

      11.2 Post-Closing Covenants.  ECD and United Solar make the  following
covenants:

        (a)   ECD Subsidiaries. After the Closing, at the option of Bekaert,
              ECD shall transfer and assign all of its right, title and
              interest in and to Suryovonics and Sovlux PV to United Solar
              at no additional payment to ECD, in a form of a transfer
              agreement acceptable to Bekaert. The foregoing interests will
              be transferred free and clear of all Liens and encumbrances.

        (b)   Retained ECD Rights. Notwithstanding anything contained in
              this Agreement or the Transaction Agreements, United Solar and
              the Company agree that ECD retains the exclusive rights to
              manufacture Photovoltaic Equipment for United Solar, the
              Company and their respective subsidiaries and sublicensees
              provided that such Photovoltaic Equipment can be provided by
              ECD at a cost, quality, and on a delivery schedule competitive
              with that available from third party manufacturers or
              otherwise agreed upon by the Management Committee.  ECD shall
              use the manufacturing expertise of Bekaert and its Affiliates
              in the manufacture of sputtering machines for United Solar,
              the Company and their Affiliates and sublicensees and shall
              award a contract to Bekaert and/or any of its Affiliates if
              such  machines can be provided by Bekaert or such  Affiliate
              at a cost, quality and on delivery schedule competitive with
              that available from third party manufacturers or otherwise
              agreed upon by the Management Committee.  If any future
              contract is awarded to Bekaert and/or any of its Affiliates,
              ECD shall not mark-up the price it charges United Solar.

      11.3 Miscellaneous Covenants.
           -----------------------

        (a)   Consents. United Solar, ECD and Bekaert shall cooperate with
              each other in preparing, filing and taking any other actions
              necessary with respect to any application, request or actions
              which are or may be necessary to obtain the consent of any
              government or third party to the transactions contemplated by
              this Agreement or which are or may be necessary or helpful in
              order to accomplish such transactions.

        (b)   Expenses.  Except to the extent otherwise specifically
              provided herein, Bekaert shall pay all of the expenses
              incident to the transactions contemplated by this Agreement
              which are incurred by Bekaert, its Affiliates, or its
              representatives, and United Solar shall pay all of the
              expenses incident to the transactions contemplated by this
              Agreement

                                      33
<PAGE>

              which are incurred by United Solar, its Affiliates or its
              representatives, and ECD shall pay all of the expenses
              incident to the transactions contemplated by this Agreement
              which are incurred by ECD, its Affiliates or its
              representatives.

        (c)   Assignment of Contracts, Rights.  Except as set forth in
              Sections 10.1(g) and 10.2(h), anything contained in this
              Agreement or the Bills of Sale to the contrary
              notwithstanding, this Agreement and the Bills of Sale shall
              not constitute an agreement to assign any United Solar
              Contract or any claim or any right or benefit  arising
              thereunder or resulting therefrom if an attempted assignment
              thereof, without the consent of a third party thereto, would
              constitute a breach thereof or in any way affect the rights
              of the Company hereunder.  United Solar shall use commercially
              reasonable efforts to obtain the consent of the other party
              to any of the foregoing to the assignment thereof to the
              Company in all cases in which such consent is required for
              assignment or transfer.  If such consent is not obtained,
              the parties agree to cooperate with each other in any
              reasonable arrangement designed to provide for the Company
              the benefits thereunder, including, but not limited to,
              having (i) the Company act as agent for United Solar, and
              (ii) United Solar enforce for the benefit of the Company any
              and all rights of United  Solar  against the other party
              thereto  arising out of the cancellation by such other party
              or otherwise.

      11.4 Notice under Canon  Agreements.  ECD shall promptly deliver to
Bekaert a copy of any notice received or sent by ECD under the Canon Agreements.

      11.5 Termination of Bridge Loan. ECD hereby agrees and acknowledges that
effective the Closing Date, Four Million US Dollars (US$4,000,000) of
indebtedness loaned from ECD to United Solar shall be deemed to be, fully paid
and satisfied, discharged and fulfilled.

      11.6 Termination of Conversion Rights. ECD hereby agrees and acknowledges
that all of its right, title and interest in and to conversion of debt payments
into shares of United Solar in accordance with the letter from United Solar to
ECD and Canon dated March 19, 1999, are hereby terminated and waived, and the
letter shall be of no further force and effect.

      11.7 Consolidation Covenant. ECD covenants to Bekaert that, following the
Closing Date, ECD shall include in its consolidated financial statements the
financial statements of United Solar so long as such consolidation is permitted
under Generally Accepted Accounting Principles ("GAAP") as practiced in the
United States. Based on the ownership, operating agreements and all other
relevant facts, ECD has concluded, as of the Closing Date, that consolidation of
United Solar into ECD is appropriate under GAAP as practiced in the United
States.

                                      34
<PAGE>

12.     INDEMNIFICATION
        ---------------

      12.1 Survival of Representations and Warranties. The representations and
warranties of ECD in Section 6 and Bekaert in Section 7 shall survive the
Closing and continue to be binding thereafter for a period of two (2) years
after the Closing Date, except that the representations and warranties contained
in Section 6.8 (Taxes) and Section 6.19 (Employee Benefit Programs) shall
survive the Closing and continue to be binding thereafter for the period of the
statute of limitations; and the representations and warranties contained in
Section 6.20 (Environmental Liability) shall survive the Closing and continue to
be binding thereafter for a period of five (5) years after the Closing Date; and
the representations and warranties contained in Sections 6.1 (Organization;
Authorization), Section 6.2 (Qualification), Section 6.3 (Capital Stock;
Beneficial Ownership), Section 6.4 (Subsidiaries), Section 6.5 (Governmental
Authorities; Consents); Section 6.6 (Real and Personal Property) and Section 6.7
(Financial Statements) shall survive the Closing and continue to be binding
thereafter indefinitely.

      12.2 Indemnification by ECD. Subject to the limitations and manner of
indemnification set forth in Section 12.3 below, ECD shall defend, indemnify and
hold harmless Bekaert and its Affiliates (excluding United Solar and the
Company) and their respective directors, officers, partners, employees, agents
and representatives (the "Bekaert Indemnified Parties"), from and against all
Bekaert Damages in any way arising out of or relating to, regardless of any
investigation performed by Bekaert:

        (a)   Representations.
              ---------------

              (i)   Any inaccuracy in or breach of any representation or
                    warranty by ECD herein; provided that for purposes of
                    determining an inaccuracy or a breach under this Section
                    12.2(a)(i), ECD makes the representations and warranties
                    contained in Sections 6.8 through 6.23 to ECD's
                    Knowledge; and

              (ii)  Any inaccuracy in or breach of any representation or
                    warranty by ECD herein; and

        (b)   Covenants. Any breach or nonperformance of any covenant or
              obligation made or incurred by United Solar or ECD herein or
              in any other agreement or document delivered by or on behalf
              of United Solar or ECD in connection herewith.

      12.3 Limitations; Manner of Indemnification by ECD.
           ---------------------------------------------

                                      35
<PAGE>

        (a)   Basket. For Bekaert Damages incurred under Section 12.2(a),
              the Bekaert Indemnified Parties shall not be entitled to
              indemnification until the aggregate amount of all Bekaert
              Damages exceeds Seven Hundred Fifty Thousand US Dollars
              (US$750,000) at which time the Bekaert Indemnified Parties
              shall be entitled to indemnification of all Bekaert Damages
              and not just the Bekaert Damages in excess of such amount.

        (b)   Maximum Amount. Subject to the manner of indemnification set
              forth in Section 12.3(c) below, the maximum indemnification
              amount to which the Bekaert Indemnified Parties are entitled
              for Bekaert Damages incurred under Section 12.2(a) shall be
              equal to Five Million US Dollars (US$5,000,000) (the "Maximum
              Amount").

        (c)   Manner of Indemnification. The manner in which the Bekaert
              Indemnified Parties will be indemnified for Bekaert Damages
              will be determined as follows:

              (i)   Subject to the Maximum Amount,  if there are Bekaert
                    Damages arising under Section 12.2(a)(i), ECD shall
                    indemnify the Bekaert Indemnified Parties in the amount
                    of the Bekaert Damages up to an aggregate maximum
                    amount of Three Million US Dollars  (US$3,000,000)
                    "Cash Indemnification") and the remainder of any Bekaert
                    Damages ("Excess Indemnification") shall be paid
                    through a preferred distribution by United Solar in
                    accordance with the provisions of Section 1(d) of the
                    Unification Agreement if such damages are incurred
                    prior to Unification or in accordance with the
                    provisions of Section 2.5 of the Close Corporation
                    Shareholder Agreement if such damages are incurred
                    after Unification.

              (ii)  Subject to the Maximum Amount, if there are Bekaert
                    Damages arising under Section 12.2(a)(ii), ECD shall
                    indemnify the Bekaert Indemnified Parties in the amount
                    of the Bekaert Damages through a preferred distribution
                    by United Solar in accordance with the provisions of
                    Section 1(d) of the Unification Agreement if such
                    damages are incurred prior to Unification or in
                    accordance with the provisions of Section 2.5 of the
                    Close Corporation Shareholder Agreement if such damages
                    are incurred after Unification.

              The parties understand and agree that the manner of
              indemnification set forth in Sections 12.3(c)(i) and
              12.3(c)(ii) are mutually exclusive of each other but are in
              the aggregate subject to the Maximum Amount and the

                                      36
<PAGE>

              Bekaert Indemnified Parties shall only be permitted to be
              reimbursed for Bekaert Damages from either Section 12.3(c)(i)
              or Section 12.3(c)(ii) for each Claim.

      12.4 Indemnification by Bekaert. Bekaert shall defend, indemnify and hold
harmless ECD and its Affiliates (excluding United Solar and the Company) and
their respective directors, officers, partners, employees, agents and
representatives (the "ECD Indemnified Parties") from and against any claim,
Liability, loss, damage, cost fee, penalty and expense (including attorneys'
fees) suffered or incurred directly by the ECD Indemnified Parties in any way
arising out of or relating to:

        (a)   Representations.  Any inaccuracy in or breach of any
              representation or warranty by Bekaert herein; and

        (b)   Covenants.  Any breach or nonperformance of any covenant or
              obligation made or incurred by Bekaert herein.

      12.5 Third Party Claims. If any legal proceedings shall be instituted or
any claim is asserted by any third party in respect of which the Company, ECD
Indemnified Parties or the Bekaert Indemnified Parties may be entitled to
indemnity hereunder, the party asserting such right to indemnity shall give the
party from whom indemnity is sought written notice thereof. A delay in giving
notice shall only relieve the recipient of liability to the extent the recipient
suffers actual prejudice because of the delay. The party from whom indemnity is
sought shall have the right, at its option and expense, to participate in the
defense of such a proceeding or claim, but not to control the defense,
negotiation or settlement thereof, which control shall at all times rest with
the party asserting such right to indemnity, unless the proceeding or claim
involves only money damages, not an injunction or other equitable relief, and
unless the party from whom indemnity is sought:

        (a)   irrevocably acknowledges in writing complete responsibility
              for and agrees to indemnify the party asserting such right
              to indemnity, and

        (b)   furnishes satisfactory evidence of its financial ability to
              indemnify the party asserting such right to indemnity,

in which case the party from whom indemnity is sought may assume such control
through counsel of its choice and at its expense, but the party asserting such
right to indemnity shall continue to have the right to be represented, at its
own expense, by counsel of its choice in connection with the defense of such a
proceeding or claim. If the party from whom indemnity is sought does not assume
control of the defense of such a proceeding or claim, the entire defense of the
proceeding or claim by the party asserting such right to indemnity, any
settlement made by the party asserting such right to indemnity, and any judgment
entered in the proceeding or claim

                                      37
<PAGE>

shall be deemed to have been consented to by, and shall be binding on, the
party from whom indemnity is sought as fully as though it alone had assumed the
defense thereof and a judgment had been entered in the proceeding or claim in
the amount of such settlement or judgment, except that the right of the party
from whom indemnity is sought to contest the right of the other to
indemnification under this Agreement with respect to the proceeding or claim
shall not be extinguished. If the party from whom indemnity is sought does
assume control of the defense of such a proceeding or claim, it will not,
without the prior written consent of the party asserting such right to
indemnity, settle the proceeding or claim or consent to entry of any judgment
relating thereto which does not include as an unconditional term thereof the
giving by the claimant to the party asserting such right to indemnity a release
from all Liability in respect of the proceeding or claim. The parties hereto
agree to cooperate fully with each other in connection with the defense,
negotiation or settlement of any such proceeding or claim.

13.   DEFINITIONS
      -----------

      13.1 Definitions. Accounting terms used herein and not otherwise defined
herein shall have the meanings attributed to them under U.S. generally accepted
accounting principles. When used in this Agreement, the following terms in all
of their tenses and cases shall have the meanings assigned to them below or
elsewhere in this Agreement as indicated below:

         "AAA" shall have the meaning set forth in Article 1 of Appendix A.

         "Act" means the Delaware Revised Limited Liability Company Act, as
the same may be amended from time to time.

         "Additional Interest Agreement" shall have the meaning set forth in
Section 5.11.

         "Affiliate" of any Person shall mean any individual, partnership,
corporation, trust or other entity or association, directly or indirectly,
through one or more intermediaries, controlling, controlled by, or under common
control with such Person. The term "control," as used in the immediately
preceding sentence, means, with respect to a corporation or limited liability
company the right to exercise, directly or indirectly, more than fifty percent
(50%) of the voting rights attributable to the controlled corporation or limited
liability company, and, with respect to any individual, partnership, trust,
other entity or association, the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of the
controlled entity. However, such individual, partnership, corporation, trust or
other entity or association shall be deemed to be an Affiliate only as long as
such control exists.

         "Agreement" shall mean this Foundation Agreement.

         "Approvals" shall have the meaning set forth in Section 6.18.

                                      38
<PAGE>

         "Arbitration Notice" shall have the meaning set forth in Article 1
of Appendix A.

         "Arbitrator" shall have the meaning set forth in Article 1 of
Appendix A.

         "Bekaert" shall mean Bekaert Corporation, a Delaware corporation.

         "Bekaert Damages" shall mean (i) one hundred percent (100%) of any
claim, Liability, loss, damage (including any diminution in value), cost, fee,
penalty and expense (including attorneys' fees) (collectively, "Claim") suffered
or incurred directly (as compared to indirectly through its equity ownership in
United Solar and the Company) by Bekaert Indemnified Parties, and (ii) fifty
percent (50%) of any Claim suffered or incurred directly by United Solar and/or
the Company.

         "Bekaert Group" shall have the meaning set forth in Recital B of
this Agreement.

         "Bekaert/BESS Subscription Agreement" shall have the meaning set
forth in Section 5.8.

         "Bekaert Employee Lease Agreement" shall have the meaning set forth
in Section 5.7(b).

         "Bekaert Indemnified Parties" shall have the meaning set forth in
Section 12.2.

         "Bills of Sale" shall have the meaning set forth in Section
10.3(b)(ii).

         "Business Day" shall mean Monday through Friday, except for a legal
or bank holiday.

         "Business Plan" shall have the meaning set forth in Section 4.1 of
the LLC Agreement.

         "Canon" shall mean Canon Inc., a Japanese corporation.

         "Canon Agreements" shall mean the Transaction Documents identified
in the Stock Purchase Agreement, dated the Closing Date, between ECD, United
Solar and Canon.

         "Cash Indemnification" shall have the meaning set forth in Section
12.3(c)(i).

         "Certificate of Formation" shall have the meaning set forth in
Section 2.1.

         "Claim" shall mean any claim, Liability, loss, damage (including any
diminution in value), cost, fee, penalty and expense (including attorneys'
fees).

                                      39
<PAGE>

         "Close Corporation Shareholder Agreement" shall have the meaning set
forth in Section 5.2.

         "Closing Date" or "Closing" shall have the meaning set forth in
Section 10.4.

         "COBRA" shall mean the Consolidated Omnibus Budget Reconciliation
Act of 1985.

         "Code" shall mean the Internal Revenue Code of 1986, as amended.

         "Company" shall mean Bekaert ECD Solar Systems LLC, a Delaware
limited liability company.

         "Contract" means any commitment, understanding, instrument, lease,
pledge, mortgage, indenture, note, license, agreement, purchase or sale order,
contract, promise, or similar arrangement evidencing or creating any obligation,
whether written or oral.

         "Dispute" shall have the meaning set forth in Article 1 of
Appendix A.

         "Disputing Party" shall have the meaning set forth in Article 1 of
Appendix A.

         "ECD" shall mean Energy Conversion Devices, Inc., a Delaware
corporation.

         "ECD-BESS Agreement" shall have the meaning set forth in Section
5.5(a).

         "ECD Indemnified Parties" shall have the meaning set forth in
Section 12.4.

         "Employee Program" shall have the meaning set forth in Section
6.19(i)(i).

         "Environmental, Health and Safety Laws" shall have the meaning
set forth in Section 6.20(a).

         "Equipment Fabrication Services Agreement" shall have the meaning
set forth in Section 5.4(a).

         "Equipment Lease" shall have the meaning set forth in Section
5.4(b).

         "ERISA" shall mean the Employee Retirement Income Security Act of
1974, as amended.

         "Excess Indemnification" shall have the meaning set forth in Section
12.3(c)(i).

                                      40
<PAGE>

         "Exclusive Supply Agreement" shall have the meaning set forth in
Section 5.3.

         "Formation Date" shall have the meaning set forth in Section 2.1.

         "GAAP" shall have the meaning set forth in Section 11.7.

         "Governmental Authority" means any foreign, federal, state, regional
or local authority, agency, body, court or instrumentality, regulatory or
otherwise, which, in whole or in part, was formed by or operates under the
auspices of any foreign, federal, state, regional or local government.

         "Hazardous Substances" shall have the meaning set forth in Section
6.20(b).

         "HSR Act" shall mean the Hart-Scott-Rodino Act.

         "Interim Balance Sheet" shall have the meaning set forth in Section
6.7(a)(ii).

         "Intellectual Property" shall have the meaning set forth in Section
6.11.

         "IRS" shall mean the Internal Revenue Service.

         "Knowledge" means the knowledge of the corporate officers of United
Solar and ECD, after due and adequate inquiry of the appropriate management
personnel.

         "LLC Agreement" shall have the meaning set forth in Section 2.1.

         "Law" shall mean any national, regional or local law, statute,
regulation, decree, ordinance, rule or order, whether existing previously or as
of the date hereof.

         "Leased Real Property" shall have the meaning set forth in Section
6.6(a).

         "Leases" shall have the meaning set forth in Section 6.6(a).

         "Liability" or "Liabilities" means responsibilities, obligations,
duties, commitments, claims, and liabilities of any and every kind, whether
known or unknown, accrued, absolute, contingent or otherwise.

         "Licensed Products" shall have the meaning set forth in Section
6.13(m)(i).

         "Lien" means any lien, charge, covenant, condition, easement,
adverse claim, demand, encumbrance, limitation, security interest, option,
mortgage, charge, pledge, or any other title defect or restriction of any kind.

                                      41
<PAGE>

         "Management Committee" shall have the meaning set forth in Section 6
of the LLC Agreement.

         "Maximum Amount" shall have the meaning set forth in Section
12.3(b).

         "Membership Interest" shall mean an interest as a member in the
Company with such rights and obligations as set forth in the LLC Agreement.

         "MOU" shall have the meaning set forth in Section 6.13(m)(ii).

         "NVB" shall have the meaning set forth in Recital B of this
Agreement.

         "NVB-United Solar Agreement" shall have the meaning set forth in
Section 5.5(b).

         "Noncompetition Agreement" shall have the meaning set forth in
Section 5.10.

         "Owned Real Property" shall have the meaning set forth in Section
6.6(a).

         "PCBs" shall have the meaning set forth in Section 6.20(f)(iv).

         "Person" means any individual, corporation, partnership, association
or any other entity or organization.

         "Photovoltaic Equipment" means all custom equipment capable of
manufacturing and processing Strip Cells and PV Products, specifically including
amorphous silicon deposition equipment.

         "PV" shall mean photovoltaic.

         "PV Products" shall mean a Strip Cell or an interconnection of Strip
Cells for PV electrical power whether laminated or not.

         "PV Systems" shall mean any system integrating one or more PV
Products, if such system has one or more functionalities, one of which is the
production of PV electrical power.

         "R&D Agreement" shall have the meaning set forth in Section 5.5(d).

         "Real Property" shall have the meaning set forth in Section 6.6(a).

                                      42
<PAGE>

         "Reischauer Agreement" shall mean the Stock Purchase Agreement
between United Solar and the Reischauer Trust.

         "Reischauer Trust" shall have the meaning set forth in Recital A of
this Agreement.

         "Securities Act" shall mean the Securities Act of 1933, as amended.

         "Services Agreement" shall have the meaning set forth in Section
5.6.

         "Shares" shall have the meaning set forth in Section 4.1.

         "Sovlux" shall have the meaning set forth in Section 6.13(m)(i).

         "Strip Cells" shall mean a device for PV electrical power comprising
single or multiple PIN structures, a grid pattern, contacts and a coating, and
intermediates thereof.

         "Subsidiary" or "Subsidiaries" shall have the meaning set forth in
Section 6.4.

         "Taxes" shall have the meaning set forth in Section 6.8.

         "Transaction Agreements" shall have the meaning set forth in Section
5.

         "25 MW Equipment" shall have the meaning set forth in Section 1.01
of the Equipment Fabrication Services Agreement.

         "Unification" shall mean the purchase by Bekaert of additional
shares in United Solar in accordance with the Unification Agreement.

         "Unification Agreement" shall have the meaning set forth in Section
5.9.

         "United Solar" shall mean United Solar Systems Corp., a Delaware
corporation.

         "United Solar-BESS Agreement" shall have the meaning set forth in
Section 5.5(c).

         "United Solar Contributed Assets" shall have the meaning set forth
in Section 3.2.

         "United Solar Employee Lease Agreement" shall have the meaning set
forth in Section 5.7(a).

         "United Solar Mexico" shall have the meaning set forth in Recital D
of this

                                      43
<PAGE>

Agreement.

         "USSR Agreement" shall have the meaning set forth in Section 6.13
(m)(i).

         "Utilities" shall have the meaning set forth in Section 6.22(h).

14.   OTHER PROVISIONS
      ----------------

      14.1 Other Provisions.  The terms of Appendix A and any Addenda are
hereby incorporated herein by reference as if fully rewritten herein.

                [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

                                      44

<PAGE>

INTENDING TO BE LEGALLY BOUND, the parties hereto have caused this Agreement to
be duly executed as of the date and year first above written.

                                      BEKAERT CORPORATION

                                      By:     ______________________________
                                      Title:  ______________________________

                                      By:     ______________________________
                                      Title:  ______________________________

                                      UNITED SOLAR SYSTEMS CORP.

                                      By:     ______________________________
                                      Title:  ______________________________

                                      ENERGY CONVERSION DEVICES, INC.

                                      By:     ______________________________
                                      Title:  ______________________________

<PAGE>LIMITED LIABILITY COMPANY AGREEMENT
                                       OF
                          BEKAERT ECD SOLAR SYSTEMS LLC

                     (A Delaware Limited Liability Company)

        THIS LIMITED LIABILITY COMPANY AGREEMENT ("Agreement") is made and
effective as of April 11, 2000 by and between UNITED SOLAR SYSTEMS CORP.
("United Solar"), a Delaware corporation, with its principal office at 1100 West
Maple Road, Troy, Michigan 48084, and BEKAERT CORPORATION ("Bekaert"), a
Delaware corporation, with its principal office at 3200 West Market Street,
suite 303, Akron, Ohio 44333. Capitalized terms used herein and not otherwise
defined in this Agreement shall have the meaning given to them in the Foundation
Agreement (defined below).

                             BACKGROUND INFORMATION

      A.    United Solar, Energy Conversion Devices, Inc. ("ECD"), a Delaware
corporation, and Bekaert entered into a certain Foundation Agreement dated March
17, 2000 (the "Foundation Agreement"), which contemplates the execution of this
Agreement.

      B.    United Solar and Bekaert desire to form a limited liability company
in the State of Delaware, for the purpose of designing, manufacturing, marketing
and selling PV Products and PV Systems.

      C.    The parties intend that this Agreement shall govern their
relationship as Members of the Company, and their rights and obligations with
respect to the conduct of the Company's business effective as of the date set
forth above.

      NOW, THEREFORE, in consideration of the mutual covenants contained in
this Agreement and the Foundation Agreement, the parties by this Agreement set
forth the limited liability company agreement for the Company under the laws of
the State of Delaware upon the terms and subject to the conditions of this
Agreement, as follows:

                                    ARTICLE I
                                   DEFINITIONS
                                   -----------

      1.1   Definitions.  Each of the defined terms used in this Agreement shall
have the meaning specified in Appendix A attached hereto, unless the context in
which such terms is used otherwise specifically requires. For convenience, some
of the defined terms are defined the first time they appear in the Agreement.

      1.2   Construction.  Unless the context requires otherwise: (a) the gender
(or lack of gender) of all words used in this Agreement includes the masculine,
feminine and neuter; (b)

<PAGE>

references to Articles and Sections refer to Articles and Sections of this
Agreement; (c) references to Appendices and Exhibits refer to the Appendices and
Exhibits attached to this Agreement, each of which is made a part hereof for all
purposes; (d) references to Laws refer to such Laws as they may be amended from
time to time, and references to particular provisions of a Law include any
corresponding provisions of any succeeding Law; and (e) references to money
refer to legal currency of the United States of America.

                                   ARTICLE II
                                  ORGANIZATION
                                  ------------

      2.1   Formation of the Company.  The Members hereby form a Delaware
limited liability company by filing a Certificate of Formation in the form
attached hereto as Exhibit 2.1A with the Delaware Secretary of State (the
"Certificate") and entering into this Agreement, which Agreement shall be deemed
effective as of the date the Certificate was so filed. The rights and
liabilities of the Members shall be determined pursuant to the Act and this
Agreement. To the extent the rights or obligations of any Member are different
by reason of any provision of this Agreement than they would be in the absence
of such provision, this Agreement shall, to the extent permitted by the Act,
control.

      2.2   Name.  The name of the Company is "Bekaert ECD Solar Systems LLC".
The name of the Company may be changed from time to time as agreed upon by the
Management Committee.

      2.3   Office and Agent.  The registered office of the Company required by
the Act to be maintained in the State of Delaware shall be the office of the
registered agent named in the Certificate or such other office (which need not
be a place of business of the Company) as the Management Committee may designate
in the manner provided by Law. The registered agent shall be as stated in the
Certificate or as otherwise determined by the Management Committee. The
principal office of the Company shall be at such place as the Management
Committee may designate, and the Company shall maintain records there or such
other place as the Management Committee shall designate. The Company may have
such other offices as the Management Committee may designate.

      2.4   Purpose of the Company.  The purpose of the Company is to engage in
any lawful activity for which a limited liability company may be organized under
the Act. The initial business purpose of the Company is to design, manufacture,
market and sell PV Products and PV Systems and to engage in such other business
activities as the Management Committee may deem necessary or appropriate in
order to carry out the intent of this Agreement.

      2.5   Term.  The period of existence of the Company (the "Term") commenced
on the initial filing of the Certificate and shall end at such time as a
certificate of cancellation is filed with the Secretary of State of Delaware in
accordance with this Agreement.

      2.6   No State Law Partnership.  The Members intend that the Company not
be a partnership (including a limited partnership) or joint venture, and that
no Member be a partner or joint venturer of any other Member, for any purposes
other than federal and state tax purposes, and the Agreement may not be
construed to suggest

                                      2
<PAGE>

otherwise.

      2.7   Required Filings.  The Management Committee shall cause the Company
to make, execute and file all charter documents, certificates, agreements and
other instruments required by law or as may be necessary or appropriate for the
conduct of the business of the Company.

                                   ARTICLE III
                              CAPITAL CONTRIBUTIONS
                              ---------------------

      3.1   Initial Capital Contributions.  The initial capital of the Company
shall be as set forth in Section 3 (MEMBER CONTRIBUTIONS) of the Foundation
Agreement, and each of the Members shall hold the Membership Interest set forth
on Appendix B attached hereto, as amended from time to time.

      3.2   Additional Capital Contributions.  Except for Bekaert's additional
Capital Contribution made pursuant to the Subscription Agreement and the remedy
provision of Bekaert as set forth in Section 11.1 of the Foundation Agreement,
additional Capital Contributions shall be made upon the unanimous approval of
the Management Committee as provided in Section 6.2.5. A Member shall receive a
credit to its Capital Account in the amount of any additional capital which it
contributes to the Company. Immediately following such Capital Contribution, the
Percentage Interests shall be adjusted by the Management Committee to reflect
the new relative proportions of the Capital Accounts of the Members, and
Appendix B shall be amended to reflect the change in Membership Interest.

      3.3   Member Loans.  Subject to Section 4.9, any Member or its Affiliate
may make a loan to the Company as requested and approved by the Management
Committee. Any such loan shall bear interest and be on the terms as agreed to by
the Member and the Management Committee.

      3.4   Capital Accounts.  The Company shall establish an individual Capital
Account for each Member. The Company shall determine and maintain each Capital
Account in accordance with Regulations Section 1.704-1(b)(2)(iv). If a Member
transfers its Membership Interest in accordance with this Agreement, such
Member's Capital Account attributable to the transferred Membership Interest
shall carry over to the new owner of such Membership Interest pursuant to
Regulations Section 1.704-1(b)(2)(iv)(1).

      3.5   Withdrawal of Capital Contributions.  Except as provided in an
authorized written agreement between the Company and a Member or its Affiliate:
(i) no Member shall have the right to withdraw or reduce its Capital
Contribution(s), or to receive any distributions from the Company, (ii) no
Member shall have the right to demand or receive any property other than cash
from the Company, (iii) no interest or royalties shall be paid to any member on
its Capital Contribution(s), and (iv) no Member shall have priority over any
other Member, either as to the return of its Capital Contribution(s) or Net
Profits, Net Losses or distributions.

                                      3
<PAGE>

                                   ARTICLE IV
                                   OPERATION
                                   ----------

      4.1   Business Plan. At such times as shall be specified by the Management
Committee, a business plan (the "Business Plan") of the Company will be prepared
annually by the Operations Committee of the Company and presented to the
Management Committee. The Business Plan will set out, among other things, the
projected operating and capital spending or investment budgets of the Company
and its subsidiaries for the calendar year and shall set forth income and
expense projections, Capital Contributions, planned distributions (including
distributions for taxes of the Members attributable to the income received by
the Members from the Company) and the projected activities of the Company and
its subsidiaries for such year.

      4.2   Supply.  United Solar shall provide the Company with Strip Cells or
parts of Strip Cells pursuant to the terms of the Exclusive Supply Agreement,
and shall provide such other supplies as requested by the Management Committee
and agreed upon by United Solar. United Solar shall exclusively supply all of
its output to the Company in accordance with the Exclusive Supply Agreement.

      4.3   Technology; Research and Development.  The Company and United Solar
shall grant each other certain intellectual property rights pursuant to the
terms and conditions of a United Solar Systems Corp.- Bekaert ECD Solar Systems
LLC License Agreement. United Solar shall perform research and development for
the Company pursuant to the terms and conditions of a Research and Development
Agreement.

      4.4   Services.  United Solar shall provide services to the Company
pursuant to terms and conditions of a Services Agreement.

      4.5   Lease of Equipment.  The Company shall lease certain of its
equipment to United Solar pursuant to the terms and conditions of an Equipment
Lease Agreement.

      4.6   Lease of Employees.  United Solar and Bekaert shall lease certain of
their employees to the Company pursuant to the terms and conditions of Employee
Lease Agreements.

      4.7   Accounting; Fiscal Year.  The accounting methods and systems
employed by the Company shall be in conformance with generally accepted
accounting principles, applied on a consistent basis, and those customarily
employed by entities of a similar nature. The Members shall designate and
appoint an internationally reputable firm of certified public accountants to be
the independent public accountant for the Company. The Fiscal Year of the
Company shall be the calendar year.

      4.8   Insurance.  The Management Committee shall cause the Company to
maintain adequate amounts of insurance to cover the operations and insurable
risks of the Company. Such insurance shall be procured and maintained by the
Company, or, in the alternative, when it is more cost

                                      4
<PAGE>

effective to do so, procured and maintained by each individual Member or its
Affiliate in equal amounts of coverage. Each Member or its Affiliate shall also
procure and maintain professional liability insurance for its Representatives.

      4.9   Financing.  The financing of the Company shall be the responsibility
of the Company. If external borrowing with banks is not available on
commercially reasonable terms, Bekaert will arrange for additional financing on
an as needed basis up to Ten Million US Dollars (US$10,000,000) (reduced by
amounts guaranteed by Bekaert to Canon, Inc. under the Guaranty Agreement,
executed concurrently herewith, relating to FujiLease (whether paid or
contingent) (herein, the "FujiLease Guarantee")). If Bekaert's additional
financing of up to a maximum of Ten Million US Dollars (US$10,000,000) less the
FujiLease Guarantee is insufficient, the Management Committee will decide upon
alternative financing, and such decision will be considered a Material Action
under Section 6.2.5. Except as provided in Section 3.2, no Member shall have any
obligation to the Company or to the other Member to make additional Capital
Contributions or to guarantee the repayment of loans to the Company made by
third parties. Any required guarantee of a third-party loan shall be borne by
each Member in proportion to its respective Percentage Interest or as the
Management Committee otherwise decides, and such decision will be considered a
Material Action under Section 6.2.5.

                                    ARTICLE V
                                     MEMBERS
                                    ---------

      5.1   Limited Liability.  Except as expressly set forth in this Agreement,
no Member shall be personally liable for any debt, obligation, or liability of
the Company, whether that liability or obligation arises in contract, tort, or
otherwise.

      5.2   Admission of Additional Members. Except as provided in Article VIII,
no additional Members will be admitted to the Company.

      5.3   Withdrawals or Resignations.  No Member may withdraw or resign from
the Company without first obtaining the prior written consent of the other
Member.

      5.4   Termination of Membership Interest.  Upon the withdrawal or
resignation of a Member not in accordance with Section 5.3, the Membership
Interest of such Member shall be terminated by the Management Committee and
thereafter that Member shall be an Assignee only unless such Membership Interest
shall be purchased by the Company and/or remaining Member. Each Member
acknowledges and agrees that such termination or purchase of a Membership
Interest upon the occurrence of any of the foregoing events is not unreasonable
under the circumstances existing as of the date hereof.

      5.5   Transactions With the Company.  Subject to any limitations set forth
in this Agreement and with the prior approval of the Management Committee, a
Member may lend money to and transact other business with the Company. Subject
to other applicable law, such Member has the

                                      5
<PAGE>

same rights and obligations with respect thereto as a Person who is not a
Member.

      5.6   Remuneration To Members.  Except as otherwise specifically provided
in this Agreement or as agreed to in writing between a Member and the Company,
no Member is entitled to remuneration for acting on behalf of the Company.

      5.7   Member's Authority.  Unless expressly and duly authorized in writing
to do so by the Management Committee or the other Member, no Member, acting
solely in the capacity of a Member, is an agent of the Company nor can any
Member in such capacity bind, nor execute any instrument on behalf of the
Company, pledge its credit or render it liable for any purpose.

      5.8   Access to Real Property. Each Member and its authorized agents shall
have complete access during business hours to all real property and improvements
owned or leased by the Company.

      5.9   Classification, Rights and Obligations of Members.  There shall be
a single class of Members. Management of the Company is fully vested in the
Members; provided, that the Management Committee, Officers and Operating
Committee shall act as provided in Article VI. The rights, obligations and
limitations of the Members shall be as set forth in this Agreement, the
Certificate or, if not expressly provided in the foregoing, the Act.

      5.10  Investment Representations.  Each Member hereby represents and
warrants to, and agrees with, the other Member and the Company that (i) it is
acquiring the Membership Interest for investment purposes for its own account
only and not with a view to or for sale in connection with any distribution of
all or any part of the Membership Interest; (ii) it is an "accredited investor"
as defined in Rule 501(a) of Regulation D promulgated by the Securities and
Exchange Commission; (iii) it understands that the Membership Interest has not
been registered under the Securities Act of 1933, as amended (the "Securities
Act"), or any other applicable blue sky laws in reliance, in part, on its
representations, warranties, and agreements herein; (iv) it understands that the
Membership Interest is a "restricted security" under the Securities Act in that
the Membership Interest will be acquired from the Company in a transaction not
involving a public offering, and that the Membership Interest may be resold
without registration under the Securities Act only in certain limited
circumstances and that otherwise the Membership Interest must be held
indefinitely; and (v) it was not organized for the specific purpose of acquiring
the Membership Interest.

                                   ARTICLE VI
                      MANAGEMENT AND CONTROL OF THE COMPANY
                      -------------------------------------

      6.1   Management by the Members.  The management of the Company is fully
vested in the Members, acting exclusively in their membership capacities. The
Company will not have "managers," as that term is used in the Act, it being
understood that the Representatives and Officers do not constitute "managers."

      6.2   Management Committee.  The Members shall act collectively through
meetings as a "committee of the whole," which is hereby named the "Management
Committee."  The Management

                                      6
<PAGE>

Committee shall consist of eight persons (each, a "Representative", and
collectively, the "Representatives"). Decisions or actions taken by the
Management Committee in accordance with the provisions of this Agreement shall
constitute decisions or actions by the Company and shall be binding on each
Member, Representative, Officer and employee of the Company. The Management
Committee shall conduct its affairs in accordance with the following provisions
and the other provisions of this Agreement:

            6.2.1  Representatives.
                   ---------------

                   (i)   Designation.  Prior to Unification, four of the
            Representatives shall be appointed by United Solar and four of the
            Representatives shall be appointed by Bekaert at each annual meeting
            of Members, or at any special meeting held for the purpose of
            appointing Representatives.  After Unification, the Representatives
            shall be appointed in proportion to the Member's Percentage
            Interest, which shall mean that the minority Member shall be
            entitled to appoint the number of Representatives equal to such
            Member's Percentage Interest multiplied by the total number of
            Representatives to be appointed (with fractions disregarded), and
            the majority Member shall be entitled to appoint the remaining
            Representatives.  Each Representative shall serve until the earlier
            of his resignation, removal by the Member who appointed him, death
            or disability, or until his successor is appointed.

                   (ii)  Authority.  Each Representative shall have the full
            authority to act on behalf of the Member that designated such
            Representative; the action of a Representative at a meeting (or
            through a written consent) of the Management Committee shall bind
            the Member that designated such Representative; and the other Member
            shall be entitled to rely upon such action without further inquiry
            or investigation as to the actual authority (or lack thereof) of
            such Representative.

                   (iii) Disclaimer of Duties; Indemnification.  EACH
            REPRESENTATIVE SHALL REPRESENT, AND OWE DUTIES TO, ONLY THE MEMBER
            THAT DESIGNATED SUCH REPRESENTATIVE (THE NATURE AND EXTENT OF SUCH
            DUTIES BEING AN INTERNAL CORPORATE OR ORGANIZATIONAL AFFAIR OF SUCH
            MEMBER), AND NOT TO THE COMPANY, ANY OTHER MEMBER OR REPRESENTATIVE,
            OR ANY OFFICER OF EMPLOYEE OF THE COMPANY.  THE COMPANY SHALL
            INDEMNIFY, PROTECT, DEFEND, RELEASE AND HOLD HARMLESS EACH
            REPRESENTATIVE FROM AND AGAINST ANY CLAIMS ASSERTED BY OR ON BEHALF
            OF ANY PERSON (INCLUDING ANOTHER MEMBER), OTHER THAN THE MEMBER
            THAT DESIGNATED SUCH REPRESENTATIVE, THAT ARISE OUT OF, RELATE TO OR
            ARE OTHERWISE ATTRIBUTABLE TO, DIRECTLY OF INDIRECTLY, SUCH PERSON'S
            SERVICE ON THE MANAGEMENT COMMITTEE.

                   (iv)  Remuneration; Expenses.  No fee or other remuneration
            shall be payable by the Company to any Representative for his or her
            services as a

                                      7
<PAGE>

            Representative. Each Member shall bear all expenses incurred by its
            appointed Representatives in connection with attendance at
            Management Committee meetings, including, without limitation,
            transportation and lodging.

                   (v)   Attendance.  Each Member shall use all reasonable
            efforts to cause each of its Representatives to attend each meeting
            (including the means set forth in Section 6.2.8) of the Management
            Committee or appoint a proxy for such meetings.

            6.2.2  Chairman.  The Management Committee shall have a Chairman,
            who shall serve for a one-year term. Prior to Unification, one
            Representative representing Bekaert shall serve as Chairman. After
            Unification, the Chairman shall be elected by the Management
            Committee. Except as otherwise authorized by the Certificate, the
            duties of the Chairman shall be as set forth on Exhibit 6.3.

            6.2.3  Time and Place of Meetings.  The Management Committee shall
            meet quarterly, subject to more or less frequent meetings upon
            approval of a majority of the Representatives on the Management
            Committee. Notice of all such Management Committee meetings shall be
            provided by the Chairman to all Members at least ten (10) days prior
            to the date of the meeting, together with the proposed minutes of
            the previous Management Committee meeting (if such minutes have not
            been previously ratified).  Special meetings of the Management
            Committee may be called at such times, and in such manner, as any
            Member deems necessary. Any Member calling for any such special
            meeting shall notify the Chairman, who in turn shall notify all of
            the Members of the date and agenda for such meeting at least twenty
            (20) days prior to the date of the meeting. The notice periods for
            meetings (including special meetings) may be shortened by the
            Management Committee; provided, however, that in the event of an
            emergency or other circumstance reasonably requiring a meeting on
            less than five (5) business days' notice, the Chairman shall provide
            each Member with as much notice as practical prior to such meeting.
            All meetings of the Management Committee shall be held at a location
            designated by the Chairman. Attendance of a Member at a meeting of
            the Management Committee shall constitute a waiver of notice of such
            meeting, except where such Member attends the meeting for the
            express purpose of objecting to the transaction of any business on
            the ground that the meeting is not lawfully called or convened.

            6.2.4  Quorum.  Until January 1, 2010, in order for there to be a
            quorum for the transaction of any business at a meeting of the
            Management Committee there must be at least two (2) Representatives
            of each Member present. On and after January 1, 2010, in order for
            there to be a quorum for the transaction of any business at a
            meeting of the Management Committee there must be at least two
            Representatives present.  If at any meeting a quorum is not present
            at the commencement of business, the meeting shall stand adjourned
            until such time as a quorum is present, no later than the thirtieth
            (30th) business day thereafter, on which day the meeting shall
            reconvene at the same time and place with the same agenda.

                                      8
<PAGE>

            6.2.5  Voting.  Until January 1, 2010, any action of the Company
            shall be deemed approved if it is unanimously approved by the
            Management Committee, and otherwise shall be deemed not to be
            approved and will not be undertaken.  On and after January 1, 2010,
            any action of the Company shall be deemed approved if a majority of
            the Representatives voting on such matter vote in favor of such
            action, except with respect to any Material Action (as defined in
            Exhibit 6.2.5 hereto or as specifically provided for in Section 4.9
            of this Agreement) taken by the Management Committee, the unanimous
            approval of the Representatives voting on such matter shall be
            required; provided, however, that any matter considered a Material
            Action under this Section 6.2.5 shall be considered a general action
            governed by the approval of a majority of the Representatives if a
            Member's Percentage Interest in the Company is less than
            thirty-three percent (33%), but, however, if such Member's
            Percentage Interest in the Company is less than thirty-three percent
            (33%) but greater than nineteen percent (19%) the matters identified
            as (b)(ii) and (b)(vi)(excluding issuance of debt securities) of
            Exhibit 6.2.5 shall still be considered a Material Action under this
            Section 6.2.5.

            6.2.6  Deadlock of the Management Committee.  If the Management
            Committee is unable to act upon any proposal submitted to it for
            action at a meeting of the Management Committee, because of lack of
            quorum or the required vote (as provided in this Agreement), and
            either Member gives notice in writing to the other Member and to the
            Company of its decision to cause the commencement of the procedure
            set forth below, the Management Committee will be deemed to be in
            "Deadlock." The Company shall continue to operate during any period
            of Deadlock of the Management Committee, and in no event shall the
            Deadlock interfere with the rights of the Representatives and
            Officers of the Company to operate the Company. Deadlock shall be
            resolved in the following manner:

               (a)   Upon the occurrence of Deadlock, each Member shall
                     designate one (1) of its Representatives on the Management
                     Committee (the "Designated Representative") to meet and
                     discuss the Deadlock in good faith. The Designated
                     Representatives shall have thirty (30) days from the
                     occurrence of Deadlock to reach resolution of the proposal
                     in Deadlock.

               (b)   If the Designated Representatives are unable to resolve
                     the Deadlock within the thirty (30) day period referred to
                     in subsection (a) above, then each Member shall cause the
                     Deadlock to be referred to a director or senior officer of
                     such Member not involved in the business of the Company
                     ("Disinterested Officer") to meet and discuss the Deadlock
                     in good faith. The Disinterested Officers shall have
                     thirty (30) days from the end of the period referred to in
                     subsection (a) above to reach resolution of the proposal
                     in Deadlock.

               (c)   If the Disinterested Officers are unable to resolve the
                     Deadlock within the thirty (30) day period referred to in
                     subsection (b) above, either Member may elect to submit the
                     Deadlock proposal for settlement by mediation ("Demanding
                     Member").  The demand for mediation must be submitted by

                                      9
<PAGE>

                     the Demanding Member within thirty (30) days of the end of
                     the period referred to in subsection (b) above (the
                     "Demand").  The Members may mutually agree upon a mediator
                     (who must be experienced in the area of the proposal that
                     is in Deadlock) and the rules which will apply to the
                     mediation. If the Members are unable to agree upon a
                     mediator or the rules to apply to the mediation, then the
                     parties will use the then current applicable mediation
                     rules of the CPR Institute for Dispute Resolution to
                     choose the mediator or set rules of the mediation.  Any and
                     all necessary relevant mediation will be held in Chicago,
                     Illinois.  The Demand will identify the proposal that is
                     in Deadlock and will state the issue proposed to be
                     resolved in mediation and the resolution sought.  If after
                     five (5) days of mediation the Deadlock is not resolved,
                     or if the mediator declares an impasse prior to the end of
                     the five (5) day period, then if the Members do not
                     mutually agree to continue mediation, mediation shall
                     terminate.  The resolution of the Deadlock by mediation
                     shall not be binding on either Member unless the Members
                     mutually agree to accept the resolution of the Deadlock
                     achieved through the mediation.

               (d)   If the Deadlock is not resolved through mediation as set
                     forth in subsection (c) above, either Member may within
                     thirty (30) days of the termination of mediation submit the
                     Deadlock proposal to arbitration in accordance with the
                     then-current rules of the American Arbitration Association
                     ("AAA").  The arbitration, including the rendering of the
                     the award, shall take place in Chicago, Illinois.  The
                     governing procedural and substantive law of the arbitration
                     shall be the internal laws of the State of Delaware,
                     without regard to conflicts of law principles.  The
                     arbitration shall be conducted by one (1) arbitrator
                     appointed by the AAA and who shall be experienced in the
                     area of the proposal that is in Deadlock.  Each Member
                     shall submit to the arbitrator a proposal to resolve the
                     matter in Deadlock (the "Substantive Proposal").  In
                     addition to the Substantive Proposal, each Member may
                     submit to the arbitrator a proposal of an exit method for
                     such Member if the arbitrator does not find in favor of
                     that Member's Substantive Proposal (the "Exit Proposal").
                     With regard to the Substantive Proposals, the arbitrator
                     shall rule only upon the Substantive Proposals submitted by
                     the Members, and must choose between the positions taken
                     on the matter by each Member (as opposed to adopting a
                     compromise position) and report his conclusion to the
                     Members as promptly as possible after submission of the
                     Substantive Proposals.  The decision of the arbitrator
                     as to the Substantive Proposals shall be nonbinding on the
                     Members.  With regard to the Exit Proposals, the arbitrator
                     may choose either the Exit Proposal submitted by the Member
                     whose Substantive Proposal is rejected by the arbitrator or
                     an amended version of such Exit Proposal (such Exit
                     Proposal, as possibly amended, the "Exit Solution").  In
                     determining the Exit Solution of a Member the Members agree
                     that the arbitrator must consider the fair market value of
                     the Company and the reasonableness of the Member's
                     Substantive and Exit Proposals.  The

                                      10
<PAGE>

                     Members further agree that the arbitrator may consider the
                     respective financial condition of the Members in
                     determining whether the consideration for the sale of such
                     Member's Membership Interest shall be paid in cash and/or
                     in kind, and whether such payment shall be effected at the
                     closing of the sale and/or shall be deferred.  The
                     arbitrator shall report his decision regarding the Exit
                     Solution at the same time as he reports his conclusion
                     regarding the Substantive Proposals.  Within thirty (30)
                     days of the date of written notice from the arbitrator
                     to the Members and to the Company, the Member whose
                     Substantive Proposal was rejected by the arbitrator must
                     elect to accept the Exit Solution.  If such Member does not
                     accept the Exit Solution such Member will remain a member
                     of the Company.  The decision of the arbitrator as to the
                     Exit Solution shall be final and binding on both Members if
                     the Member whose Substantive Proposal is rejected chooses
                     to accept the Exit Solution.

            6.2.7  Action by Written Consent. Any action required or permitted
            to be taken at a meeting of the Management Committee may be taken
            without a meeting, without prior notice, and without a vote if a
            consent or consents in writing, setting forth the action so taken,
            is signed by the Representatives that could have taken the action
            at a meeting of the Management Committee at which all of the
            Representatives entitled to vote on the action were represented
            and voted.

            6.2.8  Meeting by Telephone. The Representatives may participate
            in and hold such meeting by means of conference telephone, video
            conference or similar communications equipment by means of which
            all persons participating in the meeting can hear each other.
            Participation in such a meeting shall constitute presence in person
            at such meeting, except where a Representative participates in the
            meeting for the express purpose of objecting to the transaction of
            any business on the ground that the meeting is not lawfully called
            or convened.

            6.2.9  Advisors.  The Representatives may be accompanied by a
            reasonable number of advisors, who may participate in the meetings,
            but who shall not vote.

            6.2.10  Proxy.  Any Representative may, by instrument in writing
            signed by such Representative, which may be by letter, or telefax,
            appoint a person, who may or may not be a Representative, to act as
            his proxy at any meeting or for any stated duration of time. Any
            person so appointed shall, for the duration of his appointment,
            unless otherwise provided in such proxy, have all the rights of the
            appointer (including the right to one vote) and shall be counted in
            determining whether a quorum has been constituted.

      6.3   Officers. The individuals holding the offices of Chairman, Chief
Executive Officer and President of the Company shall be as set forth in Exhibit
6.3. The Management Committee may also appoint any other officers that the
Management Committee deems necessary to carry on the day-to-day operations of
the Company. All such officers shall be appointed by and serve at the

                                      11
<PAGE>

pleasure of the Management Committee and shall have only such authority,
responsibility and duties as expressly conferred by the Management Committee
and as described in Exhibit 6.3.

      6.4   Operations Committee; Subcommittees.
            -----------------------------------

            6.4.1  Operations Committee. The Management Committee shall
            appoint an Operations Committee consisting of officers of the
            Company (the "Operations Committee"). The Operations Committee
            shall be responsible for the conduct of the day-to-day business
            of the Company, together with such other duties as the Management
            Committee may determine. Prior to Unification, one-half of the
            members of the Operations Committee shall be appointed by United
            Solar and one-half by Bekaert. After Unification, the members of
            the Operations Committee shall be appointed in proportion to the
            Member's Percentage Interest.

            6.4.2  Subcommittees.  The Management Committee may create such
            subcommittees, delegate to such subcommittees such authority and
            responsibility, and rescind any such delegations, as it may deem
            appropriate.

                                     ARTICLE VII
             ALLOCATIONS OF NET PROFITS AND NET LOSSES AND DISTRIBUTIONS
             -----------------------------------------------------------

      7.1   Allocations of Net Profit and Net Loss.
            --------------------------------------

            7.1.1  Net Loss.  After giving effect to the Special Allocations set
            forth in Section 7.2, Net Loss shall be allocated to the Members in
            proportion to their Percentage Interests.

            7.1.2  Net Profit.  After giving effect to the Special Allocations
            set forth in Section 7.2, Net Profit shall be allocated to the
            Members in proportion to their Percentage Interests.

      7.2   Special Tax Allocations
            -----------------------

            7.2.1  Qualified Income Offset.  In the event any Member
            unexpectedly receives any adjustments, allocations, or distributions
            described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5), or
            (6), items of Company income and gain shall be specially allocated
            to each such Member in an amount and manner sufficient to eliminate,
            to the extent required by the Regulations, the Adjusted Capital
            Account Deficit of such Member as quickly as possible, provided that
            an allocation pursuant to this Section 7.2.1 shall be made if and
            only to the extent that such Member would have an Adjusted Capital
            Account Deficit after all other allocations provided for in this
            Article VII have been tentatively made as if this Section 7.2.1
            were not in the Agreement.

            7.2.2  Gross Income Allocation.  In the event any Member has a
            deficit Capital Account at the end of any Company fiscal year that
            is in excess of the sum of (i) the amount such Member is obligated
            to restore, and (ii) the amount such Member is deemed to be
            obligated to restore pursuant to the next to last sentences of
            Regulations Sections 1.704-

                                      12
<PAGE>

            2(g)(1) and 1.704-2(i)(5), each such Member shall be specially
            allocated items of Company income and gain in the amount of such
            excess as quickly as possible, provided that an allocation pursuant
            to this Section 7.2.2 shall be made only if and to the extent that
            such Member would have a deficit Capital Account in excess of such
            sum after all other allocations provided for in this Article VII
            have been tentatively made as if Section 7.2.1 and this Section
            7.2.2 were not in the Agreement.

            7.2.3  Company Minimum Gain Chargeback.  Except as otherwise
            provided in Section 1.704-2(f) of the Regulations, and
            notwithstanding any other provision of this Section 7.2, if there
            is a net decrease in Company Minimum Gain during any fiscal year,
            each Member shall be specially allocated items of Company income
            and gain for such fiscal year (and, if necessary, subsequent fiscal
            years) in an amount equal to such Member's share of the net decrease
            in Company Minimum Gain, determined in accordance with Regulations
            Section 1.704-2(g).  Allocations pursuant to the previous sentence
            shall be made in proportion to the respective amounts required to
            be allocated to each Member pursuant thereto. The items to be so
            allocated shall be determined in accordance with Sections 1.704-2(f)
            (6) and 1.704-2(j)(2) of the Regulations. This Section 7.2.3 is
            intended to comply with the minimum gain chargeback requirement in
            Section 1.704-2(f) of the Regulations and shall be interpreted
            consistently therewith.

            7.2.4  Member Minimum Gain Chargeback.  Except as otherwise
            provided in Section 1.704-2(i)(4) of the Regulations, and
            notwithstanding any other provision of this Section 7.2, if there
            is a net decrease in Member Minimum Gain attributable to a Member
            Nonrecourse Debt during any fiscal year, each Member who has a
            share of the Member Minimum Gain attributable to such Member
            Nonrecourse Debt, determined in accordance with Section 1.704-2(i)
            (5) of the Regulations, shall be specially allocated items of
            Company income and gain for such fiscal year (and, if necessary,
            subsequent fiscal years) in an amount equal to such Member's share
            of the net decrease in Member Minimum Gain attributable to such
            Member Nonrecourse Debt, determined in accordance with Regulations
            Section 1.704-2(i)(4). Allocations pursuant to the previous sentence
            shall be made in proportion to the respective amounts required to be
            allocated to each Member pursuant thereto. The items to be so
            allocated shall be determined in accordance with Sections 1.704-2(i)
            (4) and 1.704-2(j)(2) of the Regulations. This Section 7.2.4 is
            intended to comply with the minimum gain chargeback requirement in
            Section 1.704-2(i)(4) of the Regulations and shall be interpreted
            consistently therewith.

            7.2.5  Nonrecourse Deductions.  Nonrecourse Deductions for any
            fiscal year shall be specially allocated among the Members in
            proportion to their Percentage Interests.

            7.2.6  Member Nonrecourse Deductions. Any Member Nonrecourse
            Deductions for any fiscal year shall be specially allocated to the
            Member who bears the economic risk of loss with respect to the
            Member Nonrecourse Debt to which such Member Nonrecourse Deductions
            are attributable, in accordance with Regulations Section 1.704.

                                      13
<PAGE>

            7.2.7  Code Section 754 Adjustment.  To the extent an adjustment to
            the adjusted tax basis of any Company asset pursuant to Code Section
            734(b) or Code Section 743(b) is required, pursuant to Regulations
            Section 1.704-1(b)(2)(iv)(m), to be taken into account in
            determining Capital Accounts, the amount of such adjustment to the
            Capital Accounts shall be treated as an item of gain (if the
            adjustment increased the basis of the asset) or loss (if the
            adjustment decreases such basis) and such gain or loss shall be
            specially allocated to the Members in a manner consistent with the
            manner in which their Capital Accounts are required to be adjusted
            pursuant to such section of the Regulations.

            7.2.8  Curative Allocations.  The "Regulatory Allocations" consist
            of the allocations pursuant to Sections 7.2.1 through 7.2.6 hereof.
            Notwithstanding any other provision of this Agreement, the
            Regulatory Allocations shall be taken into account in allocating
            items of income, gain loss and deduction among the Members so that,
            to the extent possible, the net amount of such allocations of other
            items and the Regulatory Allocations to the Members shall be equal
            to the net amount that would have been allocated to the Members if
            the Regulatory Allocations had not occurred.

      7.3   Tax Allocations:  Code Section 704(c).
            -------------------------------------

            7.3.1  In accordance with Code Section 704(c) and the Regulations
            thereunder, income, gain, loss, and deduction with respect to any
            property contributed to the capital of the Company shall, solely for
            tax purposes, be allocated among the Members so as to take account
            of any difference (the "Section 704(c) Amount") between the adjusted
            basis of such property to the Company for federal income tax
            purposes and its initial Gross Asset Value. Schedule 7.3.1 attached
            to this Agreement sets forth the Section 704(c) Amount with respect
            to the United Solar Contributed Assets as of the date of their
            contribution to the Company by the Members.

            7.3.2  In the event the Gross Asset Value of any Company asset is
            adjusted pursuant to Member Nonrecourse Debt hereof, subsequent
            allocations of income, gain, loss and deduction with respect to such
            asset shall take account of any variation between the adjusted basis
            of such asset for federal income tax purposes and its Gross Asset
            Value in the same manner as under Code Section 704(c) and the
            Regulations thereunder.

            7.3.3  The Company shall elect the traditional method as set forth
            in Regulations Section 1.704-3(b) for purposes of making allocations
            under Code Section 704(c).

            7.3.4 Any other elections or other decisions relating to such
            allocations shall be made by the Management Committee in any manner
            that reasonably reflects the purpose and intention of this
            Agreement.  Allocations pursuant to this Section 7.3 are solely for
            purposes of federal, state, and local taxes and shall not affect,
            or in any way be taken into account in computing, any Member's
            Capital Account or share of Net Profits, Net Losses, other items,
            or distributions pursuant to any provision of this Agreement.

                                     14
<PAGE>

      7.4   Net Profits and Losses and Distributions in Respect of a Transferred
Interest. If any Economic Interest is transferred, or is increased or decreased
by reason of the admission of a new Member or otherwise, during any Fiscal Year
of the Company, Net Profit or Net Loss for such Fiscal Year shall be assigned
pro rata to each day in the particular period of such Fiscal Year to which such
item is attributable (i.e., the day on or during which it is accrued or
otherwise incurred) and the amount of each such item so assigned to any such
day shall be allocated to the Member or Assignee based upon his or her
respective Economic Interest at the close of such day.

      7.5   Distribution of Assets by the Company. Subject to applicable law and
any limitations contained elsewhere in this Agreement, the Management Committee
may elect from time to time to distribute Distributable Cash to the Members
(provided, however, except for the tax distributions described below, that no
distributions will be made prior to Unification), which distributions shall be
in the following order of priority:

      (a)   To the Members in proportion to their unreturned Capital
      Contributions until each Member has recovered his or her Capital
      Contributions; and

      (b)   To the Members in proportion to their Percentage Interests.

            Notwithstanding any other provision of this Agreement to the
contrary, the Company shall make pro-rata distributions to the Members for the
payment of taxes in accordance with the following:

      (y)   the amount distributable with respect to any year shall be equal to
      the aggregate amount of Federal, state and local income taxes payable by
      the Members with respect to the income items of the Company allocated to
      the Members, assuming, for purposes of determining the amount of such
      distribution, that each Member will be taxed on the amounts set forth in
      its respective K-1 at the highest marginal Federal income tax rate
      applicable to corporations in effect for each taxable year, and at the
      highest marginal corporate state and local franchise/income tax rates
      applicable to any Member for each such taxable year; and

      (z)   such distributions shall be payable at such time or times and
      in such amounts as will enable the Members, or any one of them, to avoid
      penalties and interest otherwise payable on account of the failure to
      pay a sufficient amount of estimated taxes as required by law.

All such distributions shall be made only to the Persons who, according to the
books and records of the Company, are the holders of record of the Economic
Interests in respect of which such distributions are made on the actual date of
distribution. Neither the Company nor any Representative shall incur any
liability for making distributions in accordance with this Section 7.5.

      7.6   Form of Distribution.  A Member, regardless of the nature of the
Member's Capital Contribution, has no right to demand and receive any
distribution from the Company in any form

                                      15

<PAGE>

other than money. No Member may be compelled to accept from the Company a
distribution of any asset in kind in lieu of a proportionate distribution of
money being made to other Members. Except upon a dissolution and winding up of
the Company, no Member may be compelled to accept a distribution of any asset
in kind.

      7.7   Restriction on Distributions
            ----------------------------

            7.7.1   No distribution shall be made if, after giving effect to
            the distribution:

               (a)  The Company would not be able to pay its debts as they
                    become due in the usual course of business; or

               (b)  The Company's total assets would be less than the sum
                    of its total liabilities plus, unless this Agreement
                    provides otherwise, the amount that would be needed, if
                    the Company were to be dissolved at the time of the
                    distribution, to satisfy the preferential rights of other
                    Members, if any, upon dissolution that are superior to the
                    rights of the Member receiving the distribution.

            7.7.2   The Management Committee may base a determination that a
            distribution is not prohibited on any of the following:

               (a)  Financial statements prepared in accordance with United
                    States generally accepted accounting principles;

               (b)  A fair valuation;

               (c)  Any other method that is reasonable in the circumstances.

            Except as provided in Section 18-607(b) of the Act, the effect of a
            distribution is measured as of the date the distribution is
            authorized if the payment occurs within one hundred twenty (120)
            days after the date of authorization, or the date payment is made
            if it occurs more than one hundred twenty (120) days after the date
            of authorization.

            7.7.3   A Member or Representative who votes for a distribution in
            violation of this Agreement or the Act is personally liable to the
            Company for the amount of the distribution that exceeds what could
            have been distributed without violating this Agreement or the Act
            if it is established that the Member or Representative did not act
            in compliance with Section 7.7.2. Any Member or Representative who
            is so liable shall be entitled to compel contribution from (i) each
            other Member or Representative who also is so liable and (ii) each
            Member for the amount the Member received with knowledge of facts
            indicating that the distribution was made in violation of this
            Agreement or the Act.

      7.8   Return of Distributions. Members and Assignees who receive
distributions made in violation of the Act or this Agreement shall return such
distributions to the Company. Except for

                                      16
<PAGE>

those distributions made in violation of the Act or this Agreement, no Member
or Assignee shall be obligated to return any distribution to the Company or pay
the amount of any distribution for the account of the Company or to any creditor
of the Company. The amount of any distribution returned to the Company by a
Member or Assignee or paid by a Member or Assignee for the account of the
Company or to a creditor of the Company shall be added to the account or
accounts from which it was subtracted when it was distributed to the Member or
Assignee.

      7.9   Obligations of Members to Report Allocations. The Members are aware
of the income tax consequences of the allocations made by this Article VII and
hereby agree to be bound by the provisions of this Article VII in reporting
their shares of Company income and loss for income tax purposes.

                                  ARTICLE VIII
                 TRANSFER AND ASSIGNMENT OF MEMBERSHIP INTERESTS
                 -----------------------------------------------

      8.1   Transfer and Assignment of Membership Interests.  Except with the
prior written consent of the other Member, which consent may be given or
withheld, conditioned or delayed (as allowed by this Agreement or the Act), as
the other Member may determine in its sole and absolute discretion, or as
provided in Section 8.3 or Section 8.5, no Member shall be entitled to transfer,
assign, convey, sell, encumber or in any way alienate all or any part of its
Membership Interest (collectively, "transfer"). After the consummation of any
transfer of a Membership Interest, the Membership Interest so transferred shall
continue to be subject to the terms and provisions of this Agreement and any
further transfers shall be required to comply with all the terms and provisions
of this Agreement. No Member may transfer less than all of its Membership
Interest or Economic Interest.

      8.2   Further Restrictions on Transfer of Interests.  In addition to other
restrictions found in this Agreement, no Member shall transfer its Membership
Interest (i) without compliance with all federal and state securities laws; (ii)
if such transfer would cause an acceleration of or be deemed a default under any
financing obligation of the Company; or (iii) except as provided in Section 8.3,
if the Membership Interest to be transferred, when added to the total of all
other Membership Interests transferred in the preceding twelve (12) consecutive
months prior thereto, would cause the termination of the Company under the Code,
as determined by the Management Committee.

      8.3   Permitted Transfers.  A Member or its Affiliate may transfer all,
but not less than all, of its Membership Interest or Economic Interest to its
Affiliate, subject to compliance with Section 8.2(ii), without the prior written
consent of the Members or the Management Committee; provided, however, the
transferee of such Membership Interest shall (i) become a Member under this
Agreement, (ii) assume all rights and obligations of the transferring Member,
(iii) execute an instrument satisfactory to the Management Committee accepting
and adopting the terms and provisions of this Agreement, and (iv) pay any
reasonable expenses in connection with its admission as a new Member. If after
a transfer to an Affiliate pursuant to this Section 8.3, an Affiliate will no
longer be an Affiliate of the original Member, such Affiliate must sell, assign
and transfer all the Membership Interest back to the original Member and the
original Member must purchase and accept such Membership Interest at least
fifteen (15) days prior to its change in Affiliate status.

                                      17
<PAGE>

      8.4   No Effect to Transfers in Violation of Agreement.  No purported
transfer of Membership Interest in violation of the provisions of this Agreement
shall be valid and the Company shall not transfer any of such Membership
Interest on its books, nor shall the purported transferee of such Membership
Interest be entitled to vote, nor shall any distributions be paid thereon,
during the period of any such violation. The provisions of this Section 8.4
shall be in addition to and not in lieu of any other remedies, legal or
equitable, available to enforce this Agreement. Except as set forth in Section
8.3, each Member hereby undertakes not to make any transfer of its Membership
Interest (i) unless the Company has received an opinion of counsel in form and
substance satisfactory to the Company, to the effect that such transfer will not
be in violation of the Securities Act, and any applicable state securities laws
and (ii) except to a person who has executed a counterpart hereof.

      8.5   Right of First Refusal.  Except as provided in Section 8.3 with
respect to permitted transfers to an Affiliate, neither Member may transfer its
Membership Interest without the prior written consent of the other Member, which
consent may be given or withheld, conditioned or delayed (as allowed by this
Agreement or the Act) as such other Member may determine in its sole and
absolute discretion. From and after two (2) years from the effective date of
this Agreement, a Member may transfer its Membership Interest provided that each
time a Member proposes to transfer its Membership Interest (or is required by
operation of law or other involuntary transfer to do so) other than pursuant to
Section 8.3, such Member shall first offer such Membership Interest to the
non-transferring Member, and then to the Company, in accordance with the
following provisions:

            8.5.1  Such Member shall deliver a written notice to the other
            Member and the Company stating (i) such Member's bona fide intention
            to transfer its Membership Interest, (ii) the name and address of
            the proposed transferee, and (iii) the purchase price and terms of
            payment for which the Member proposes to transfer its Membership
            Interest.

            8.5.2  The non-transferring Member shall have the first right to
            purchase such Membership Interest upon the price and terms of
            payment designated in the notice provided in Section 8.5.1, by
            notifying the transferring Member and the Company in writing, within
            thirty (30) days after receipt of the notice provided in Section
            8.5.1, of its desire to purchase such Membership Interest. Upon
            receipt of such written notice, the transferring Member shall sell
            its Membership Interest to the other Member upon such price and
            terms. If the notice provided in Section 8.5.1 provides for the
            payment of non-cash consideration, the non-transferring Member may
            elect to pay the consideration in cash equal to the fair market
            value of the non-cash consideration offered, as determined in
            accordance with Section 9.3.

            8.5.3 The failure of the non-transferring Member to submit a
            notice within the period set forth in Section 8.5.2 shall constitute
            an election on the part of the non-transferring Member not to
            purchase such Membership Interest, in which case, the Management
            Committee shall make the determination, within sixty (60) days of
            the notice provided in Section 8.5.1, whether the Company will
            purchase such Membership Interest, by notice in writing to the
            transferring Member; provided, however the Representatives of the
            transferring Member shall not participate in or have a vote in the
            decision of the Management Committee to purchase such Membership
            Interest, and the decision of the Representatives of

                                      18
<PAGE>

            the non-transferring Member shall be deemed the decision of the
            Management Committee with respect to such purchase. The Management
            Committee shall notify the transferring Member of its intention to
            so purchase, and the transferring Member shall sell its Membership
            Interest to the Company upon the price and terms of payment
            designated in the notice provided in Section 8.5.1. If the notice
            provided in Section 8.5.1 provides for the payment of non-cash
            consideration, the Company may elect to pay the consideration in
            cash equal to the fair market value of the non-cash consideration
            offered, as determined in accordance with Section 9.3.

            8.5.4   If neither the non-transferring Member nor the Company
            elects to purchase the transferring Member's Membership Interest,
            then the transferring Member may transfer its Membership Interest
            to the proposed transferee, provided such transfer (a) is completed
            within thirty (30) days after the expiration of the non-transferring
            Member's or the Company's right to purchase such Membership
            Interest, as the case may be, (b) is made on terms no less favorable
            to the transferring Member than as designated in the notice, and
            (c) complies with the requirements of Section 8.2. If such
            Membership Interest is transferred, the transferee of such
            Membership Interest shall (i) become a Member under this Agreement,
            (ii) assume all rights and obligations of the transferring Member,
            (iii) execute an instrument satisfactory to the Management Committee
            accepting and adopting the terms and provisions of this Agreement,
            and (iv) pay any reasonable expenses in connection with its
            admission as a new Member. If such Membership Interest is not so
            transferred, the transferring Member must give notice in accordance
            with this Section prior to any other or subsequent transfer of such
            Membership Interest.

                                   ARTICLE IX
                                 BUY OUT OPTION
                                 --------------

      9.1   Buyout Events.   This Article 9 shall apply to any of the following
events (each a "Buyout Event"):

      (a)   a Member shall dissolve or (i) makes a general assignment for
      the benefit of creditors; (ii) files a voluntary bankruptcy petition;
      (iii) becomes the subject of an order for relief or is declared
      insolvent in any federal or state bankruptcy or insolvency proceedings;
      (iv) files a petition or answer seeking for such Member a
      reorganization, arrangement, composition, readjustment, liquidation,
      dissolution or similar relief under any law; (v) files an answer or
      other pleading admitting or failing to contest the material allegations
      of a petition filed against such person in a proceeding of the type
      described in subclauses (i) through (iv) of this clause (a); or (vi)
      seeks, consents to or acquiesces in the appointment of a trustee,
      receiver or liquidator of such Member or of all or any substantial part
      of such Member's properties;

      (b)   there shall occur a Change In Control; or

      (c)   a Member shall commit a Buyout Default.

                                      19
<PAGE>

It is understood and agreed by the Members that the application of the
provisions of this Article IX in the event of a Buyout Event shall be in
addition to, and not in lieu of, any other remedies (whether at law or in
equity) which a Member may have against the other Member (or a party related to
such Member) upon the occurrence of a Buyout Event. In each case, the Member
with respect to whom a Buyout Event has occurred is referred to herein as the
"Affected Member."

      9.2   Procedure.  Following the occurrence of a Buyout Event, the Affected
Member shall promptly give notice thereof to the Company and the other Member
(the "Purchasing Member"). The Affected Member shall have sixty (60) days from
the date of the occurrence of the Buyout Event to cure such Buyout Event (the
"Cure Period"). If the Affected Member has not cured the Buyout Event within the
Cure Period, the Purchasing Member shall have the option to acquire the
Membership Interest of the Affected Member by notifying the Affected Member and
the Company in writing, within thirty (30) days after the Cure Period of the
Buyout Event of its desire to purchase the Affected Member's Membership Interest
(either from the Affected Member or otherwise).

      9.3   Purchase Price.  The purchase price for a Membership Interest being
purchased pursuant to Section 9.2 (the "Purchase Price") shall be determined in
the following manner. The Affected Member and the Purchasing Member shall
attempt to agree upon the fair market value of the applicable Membership
Interest. If those Members do not reach such agreement on or before the
thirtieth (30th) day following the exercise of the option, any such Member, by
notice to the others, may require the determination of fair market value (such
fair market value shall be measured at the time the Buyout Event occurred) to be
made by the Arbitrator pursuant to Article 1 of Appendix C. Following the
determination of fair market value by agreement or arbitration (the "Fair Market
Value"), the Purchase Price shall be determined and paid in accordance with the
following chart and procedures:

Buyout                       Closing     Interest                    Payment
Event                        Percent     Rate            Term        Frequency
-------------------          -------     -----------     -------     ---------
Set forth in 9.1(a)            20%       Buyout Rate     4 years     quarterly
Set forth in 9.1(b)            20%       Buyout Rate     4 years     quarterly
Set forth in 9.1(c)            20%       Buyout Rate     4 years     quarterly

The following provisions shall apply to the determination and payment of the
Purchase Price:

      (a)   the Purchase Price shall be the Fair Market Value less the
      amount of all monetary damages suffered by the Company and the
      Purchasing Member as a result of such Buyout Event;

      (b)   at the closing of the purchase of the Affected Member's
      Membership Interest (the "Buyout Closing"), the Purchasing Member shall
      pay the Affected Member a portion of the Purchase Price equal to the
      Purchase Price multiplied by the percentage shown for such Buyout Event
      in the "Closing Percent" column;

      (c)   if the applicable Closing Percent is less than 100%, then the
      remainder of the Purchase Price (the "Deferred Amount"), shall accrue
      interest from the date of the Buyout

                                      20
<PAGE>

      Closing at the rate per annum shown for such Buyout Event in the
      "Interest Rate" column (not to exceed the maximum rate permitted by
      Law); and

      (d)   the Deferred Amount, together with accrued interest (at the
      interest rate shown for such Buyout Event in the "Interest Rate" column)
      thereon, shall be paid by the Purchasing Member in equal cash
      installments over a four (4) year term in quarterly payments, with the
      amount of the cash installments being calculated to amortize fully the
      Deferred Amount (and accrued interest thereon) over the applicable term.
      The installments shall be paid on the first day of January, April, July
      and October during the four year term, with appropriate adjustments to
      the first or last payments to reflect a closing that does not occur on
      the first day of a quarter. The payment to be made to the Affected
      Member pursuant to this Section shall be in complete liquidation and
      satisfaction of all the rights and interest of the Affected Member in
      and in respect of the Company, including any Membership Interest, any
      rights in specific Company property, and any rights against the Company
      and (insofar as the affairs of the Company are concerned) against the
      Purchasing Member, and constitutes a compromise to which all Members
      have agreed pursuant to Section 18-502(b) of the Act.

      9.4   Buyout Closing.  If an option to purchase is exercised in accordance
with Section 9.2, the Buyout Closing shall occur on the thirtieth (30th) day
after the determination of the Fair Market Value pursuant to Section 9.3 (or, if
later, the fifth business day after the receipt of all applicable consents and
approvals of all Governmental Authorities to the purchase); provided, however,
that the Purchasing Member shall deliver to the Affected Member (a) the portion
of the Purchase Price required by Section 9.3 to be paid at the closing, in
immediately available funds, and (b) one or more unsecured promissory notes
reflecting the payment terms established in Section 9.3 for the Deferred Amount.

      9.5   Terminated Member.  Upon the occurrence of a closing under Section
9.4, the following provisions shall apply to the Affected Member (now a
"Terminated Member"):

      (a)   The Terminated Member ceases to be a Member immediately upon the
      occurrence of the closing.

      (b)   As the Terminated Member is no longer a Member, it will no
      longer be entitled to receive any distributions (including liquidating
      distributions) or allocations from the Company, and neither it nor its
      Representatives shall be entitled to exercise any voting or consent
      rights or to receive any further information (or access to information)
      from the Company.

      (c)   The Terminated Member must pay in full to the Company all
      amounts owed to the Company by such Member.

      (d)   The Terminated Member shall remain obligated for all liabilities it
      may have under this Agreement or otherwise with respect to the Company
      that accrue prior to the closing.

                                      21
<PAGE>

      (e)   The Percentage Interest of the Terminated Member shall be allocated
      to the Purchasing Member.

                                    ARTICLE X
                     DISSOLUTION, WINDING-UP AND TERMINATION
                     ---------------------------------------
      10.1  Dissolution
            -----------

            10.1.1  Subject to Section 10.1.2, the Company shall dissolve and
            its affairs shall be wound up on the first to occur of the following
            events (each a "Dissolution Event"):

               (a)  the unanimous consent of the Members;

               (b)  the dissolution or Bankruptcy of a Member; or

               (c)  the entry of a decree of judicial dissolution of the Company
                    under Section 18-802 of the Act; or

               (d)  dissolution under Section 11.1(b)(iii) of the Foundation
                    Agreement.

            10.1.2  If a Dissolution Event described in Section 10.1.1(b)
            shall occur, the Company shall not be dissolved, and the business
            of the Company shall be continued if the remaining Member elects
            within ninety (90) days of the occurrence of such Dissolution Event
            to continue (such agreement is referred to herein as a "Continuation
            Election").

      10.2  Winding-Up and Termination.
            --------------------------

            10.2.1  Liquidation.  On the occurrence of a Dissolution Event,
            unless a Continuation Election is made, the Management Committee
            shall act as liquidator; provided, however, that if a Dissolution
            Event described in Section 10.1.1(b) has occurred to a Member, then
            the liquidator shall be selected by the majority of the Members
            that have not suffered a Dissolution Event. The liquidator may sell
            any or all Company property and shall proceed diligently to wind up
            the affairs of the Company and make final distributions as provided
            herein and in the Act. The costs of winding up shall be borne as a
            Company expense. Until final distribution, the liquidator shall
            continue to operate the Company properties with all of the power
            and authority of the Members. The steps to be accomplished by the
            liquidator are as follows:

               (a)  as promptly as possible after dissolution and again
               after final winding-up, the liquidator shall cause a proper
               accounting to be made by a recognized firm of certified public
               accountants of the Company's assets, liabilities and operations
               through the last calendar day of the month in which the
               dissolution occurs or the final winding-up is completed, as
               applicable;

                                      22
<PAGE>

               (b)  the liquidator shall pay, satisfy or discharge from
               Company funds all of the debts, liabilities and obligations of
               the Company or otherwise make adequate provision for payment and
               discharge thereof (including the establishment of a cash escrow
               fund for contingent liabilities in such amount and for such term
               as the liquidator may reasonably determine); and

               (c)  all remaining assets of the Company shall be distributed
               to the Members, in accordance with their positive Capital Account
               balances; provided, however, the Capital Accounts of the Members
               shall first be adjusted to reflect the manner in which any
               unrealized income, gain, loss and deduction inherent in the
               Company's property, which has not previously been reflected in
               the Members' Capital Accounts, would be allocated among the
               Members if there were a taxable disposition of such property at
               fair market value on the date of distribution.

            10.2.2  Complete Distribution.  The distribution of cash or property
            to a Member in accordance with the provisions of this Section 10.2
            constitutes a complete return to the Member of its Capital
            Contributions and a complete distribution to the Member of its
            Membership Interest and all the Company's property and constitutes a
            compromise to which all Members have consented pursuant to Section
            18-502(b) of the Act. To the extent that a Member returns funds to
            the Company, it has no claim against any other Member for those
            funds.

      10.3   Deficit Capital Accounts. No Member will be required to pay to the
Company, to any other Member or to any third party any deficit balance that may
exist from time to time in the Member's Capital Account.

      10.4   Certificate of Cancellation. On completion of the distribution of
Company assets as provided herein, the Members (or such other Person or Persons
as the Act may require or permit) shall file a certificate of cancellation with
the Secretary of State of Delaware, cancel any other filings made pursuant to
Section 2.7, and take such other actions as may be necessary to terminate the
existence of the Company. Upon the filing of such certificate of cancellation,
the existence of the Company shall terminate (and the Term shall end), except as
may be otherwise provided by the Act or other applicable Law.

                                   ARTICLE XI
                    ACCOUNTING, RECORDS, REPORTING BY MEMBERS
                    -----------------------------------------

       11.1    Maintenance of Books.
               --------------------

               11.1.1  The Company shall maintain at its principal office or at
        such other location approved by the Management Committee complete and
        accurate books and records of the Company, supporting documentation of
        the transactions with respect to the conduct of the Company's business
        and minutes of the proceedings of its Members and the Management
        Committee, and any other books and records that are required to be
        maintained by applicable Law.

                                      23
<PAGE>

               11.1.2  The books of account of the Company shall be (a)
        maintained on the basis of a fiscal year that is the calendar year; (b)
        maintained on an accrual basis in accordance with US generally accepted
        accounting principles, consistently applied, and (c) audited by the
        accountants (selected in accordance with Section 4.7) at the end of each
        calendar year, taking into account the financial reporting deadlines of
        each of the Members.

               11.1.3  In addition, the Company shall keep books and accounts in
        accordance with the accounting principles applied by Bekaert if and to
        the extent that Bekaert's accounting principles deviate materially from
        the above mentioned accounting principles.

         11.2  Delivery to Members and Inspection.
               ----------------------------------

               11.2.1  Upon the request of any Member or Assignee for purposes
         reasonably related to the interest of that Person as a Member or
         Assignee, the Representatives shall promptly deliver to the requesting
         Member or Assignee, at the expense of the Company, a copy of the
         information required to be maintained under Section 11.1, and a copy of
         this Agreement.

               11.2.2  Each Member, Representative and Assignee has the right,
         upon reasonable request for purposes reasonably related to the interest
         of the Person as Member, Representative or Assignee, to:

               (a)  inspect and copy during normal business hours any of the
               Company records described in Sections 11.1; and

               (b)  obtain from the Representatives, promptly after their
               becoming available, a copy of the Company's federal, state, and
               local income tax or information returns for each Fiscal Year.

               11.2.3  The Management Committee shall promptly furnish to a
         Member a copy of any amendment to the Certificate or this Agreement
         executed by a Representative pursuant to a power of attorney from the
         Member.

      11.3   Tax Returns.  The Management Committee, at Company expense, shall
cause the income tax returns for the Company to be finally prepared and timely
filed with the appropriate authorities, but in no event later than April 15th of
each year (subject to any extension that may be available to the Company). The
Management Committee, at Company expense, shall also cause to be prepared and
timely filed, with appropriate federal and state regulatory and administrative
bodies, amendments to, or restatements of, the Certificate and all reports
required to be filed by the Company with those entities under the Act or other
then current applicable laws, rules, and regulations. If a Representative
required by the Act to execute or file any document fails, after demand, to do
so within a reasonable period of time or refuses to do so, any other
Representative or Member may prepare, execute and file that document with the
appropriate agency or other authority.

                                      24
<PAGE>

      11.4   Bank Accounts. The Management Committee shall maintain the funds
of the Company in one or more separate accounts in the name of the Company, and
shall not permit the funds of the Company to be commingled in any fashion with
the funds of any other Person, except as otherwise agreed by the Management
Committee.

      11.5   Accounting Decisions and Reliance on Others. All decisions as to
accounting matters, except as otherwise specifically set forth herein, shall be
made by the Management Committee. The Management Committee may rely upon the
advice of its accountants as to whether such decisions are in accordance with
accounting methods followed for United States federal income tax purposes.

      11.6   Tax Matters for the Company. The Management Committee shall from
time to time cause the Company to make such tax elections as it deems to be in
the best interests of the Company and the Members. Bekaert shall be designated
as "Tax Matters Member" (as defined in Code Section 6231), to represent the
Company (at the Company's expense) in connection with all examination of the
Company's affairs by tax authorities, including resulting judicial and
administrative proceedings, and to expend the Company funds for professional
services and costs associated therewith. In its capacity as "Tax Matters
Member," the designated Member shall oversee the Company tax affairs in the
overall best interests of the Company.

      11.7   Status as Company for Tax Purposes. Any provision hereof to the
contrary notwithstanding, solely for United States federal income tax purposes,
each of the Members hereby confirms that the Company will be subject to all
provisions of Subchapter K of Chapter 1 of Subtitle A of the Code; provided,
however, the filing of U.S. Partnership Returns of Income shall not be construed
to extend the purposes of the Company or expand the obligations or liabilities
of the Members.

                                   ARTICLE XII
                          INDEMNIFICATION AND INSURANCE
                          -----------------------------

      12.1   Indemnification of Agents. The Company shall indemnify any Person
who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding by reason of the fact that such
Person is or was a Member, Representative, Officer, employee or other agent of
the Company or that, being or having been such a Member, Representative,
Officer, employee or agent, such Person is or was serving at the request of the
Company as a representative, director, officer, employee or other agent of
another limited liability company, corporation, partnership, joint venture,
trust or other enterprise (all such persons being referred to hereinafter as an
"agent"), to the fullest extent permitted by applicable law in effect on the
date hereof and to such greater extent as applicable law may hereafter from time
to time permit.

      12.2   Insurance. The Company shall have the power to purchase and
maintain insurance on behalf of any Person who is or was an agent of the Company
against any liability asserted against such Person and incurred by such Person
in any such capacity, or arising out of such Person's status as an agent,
whether or not the Company would have the power to indemnify such Person against
such liability under the provisions of Section 12.1 or under applicable law.

                                      25
<PAGE>
                                  ARTICLE XIII
                                  NONDISCLOSURE
                                  -------------

      13.1   Nondisclosure. Except as provided in separate written agreements
between a Member and the Company, each Member agrees that it shall not, during
the time it is a member of the Company and for a period of three (3) years
thereafter, disclose, divulge, discuss, copy or otherwise use or suffer to be
used in any manner, the contents of the Foundation Agreement and the Transaction
Agreements, the customer lists, marketing plans and strategies, pricing and
other methods used by the Company or any subsidiary of the Company in its
business, or trade secrets or proprietary information of the entities, it being
acknowledged by each Member that all such information regarding such businesses
of such entities compiled or obtained by, or furnished to, such Member while it
shall have been a member of the Company is confidential information and the
Company's exclusive property. The foregoing obligations shall not apply to any
date, know-how, or information which (i) is or becomes available from another
source such as, without limitation, a public source, other than as a consequence
of breach of the obligations herein set forth, (ii) has been or is independently
developed by the Member without reliance on the confidential information, or
(iii) is required to be disclosed under Law.

      13.2   Modifications; Equitable Relief. Each of the Member's expressly
agrees that if any claim is made that if the covenants set forth in Section 13.1
above is invalid or unenforceable, due to the duration or geographic area
thereof, and/or otherwise, the covenant shall not thereby be rendered invalid or
unenforceable, but it shall instead be modified to the maximum duration, maximum
geographic area, and/or otherwise as a court of competent jurisdiction examining
the covenant shall find to be reasonable and legally enforceable. Each Member
expressly agrees and understands that the remedy at law for any breach by it of
any of the provisions of Section 13.1 will be inadequate and that the damages
flowing from such breach are not readily susceptible to being measured in
monetary terms. Accordingly, it is acknowledged that upon adequate proof of a
parties' violation of any legally enforceable provision of Section 13.1 above,
the Company or either Member shall be entitled to immediate injunctive relief
and may obtain a temporary order restraining any threatened or further breach.
Nothing contained herein shall be deemed to limit the Members' or the Company's
remedies at law or in equity which may be pursued or availed of by them for any
breach by a party of the provisions of Section 13.1.

                                   ARTICLE XIV
                                 OTHER PROVISIONS
                                 ----------------

      14.1   Other Provisions.  The terms of Appendix C and any Addenda are
hereby incorporated herein by reference as if fully rewritten herein.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

                                      26

<PAGE>

         INTENDING TO BE LEGALLY BOUND, the parties have caused this Agreement
to be executed by their duly authorized officers as of the date first above
written.

UNITED SOLAR:                             BEKAERT:

UNITED SOLAR SYSTEMS CORP.                BEKAERT CORPORATION

By:                                       By:
    ----------------------------              ---------------------------

Title:  ------------------------          Title:  -----------------------

                                          By: ---------------------------

                                          Title:  -----------------------

<PAGE>

                              Appendix A
                              Definitions

      "AAA" shall mean the American Arbitration Association.

      "Act" shall mean the Delaware Revised Limited Liability Company Act, as
the same may be amended from time to time.

      "Adjusted Capital Account Deficit" shall mean, with respect to any
Member, the deficit balance, if any, in such Member's Capital Account as of the
end of the relevant fiscal year, after giving effect to the following
adjustments:

         (1)  credit to such Capital Account any amounts which such Member is
         obligated to restore or is deemed to be obligated to restore pursuant
         to the next to last sentences of Regulations Sections 1.704-2(g)(1)
         and 1.704-2(i)(5); and

         (2)  debit to such Capital Account the items described in Sections
         1.704-1(b)(2)(ii)(d)(4), (5) and (6) of the Regulations.

The foregoing definition of Adjusted Capital Account Deficit is intended to
comply with the provisions of Section 1.704-1(b)(2)(ii)(d) of the Regulations
and shall be interpreted consistently therewith.

      "Affected Member" shall have the meaning set forth in Section 9.1 of
this Agreement.

      "Affiliate" shall mean any individual, partnership, corporation, trust
or other entity or association, directly or indirectly, through one or more
intermediaries, controlling, controlled by, or under common control with the
Member. The term "control," as used in the immediately preceding sentence,
means, with respect to a corporation or limited liability company the right to
exercise, directly or indirectly, more than fifty percent (50%) of the voting
rights attributable to the controlled corporation or limited liability company,
and, with respect to any individual, partnership, trust, other entity or
association, the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of the controlled entity.

      "Agent" shall have the meaning set forth in Section 12.1 of this
Agreement.

      "Agreement" shall mean this Limited Liability Company Agreement of
Bekaert ECD Solar Systems LLC, as originally executed and as amended from time
to time.

      "Assignee" shall mean the owner of an Economic Interest who is not also
a Member.

      "Bankruptcy" shall have the meaning that a Member shall (i) makes a
general assignment for

<PAGE>

the benefit of creditors; (ii) files a voluntary bankruptcy petition;
(iii) becomes the subject of an order for relief or is declared insolvent in
any federal or state bankruptcy or insolvency proceedings; (iv) files a
petition or answer seeking for such person or a reorganization, arrangement,
composition, readjustment, liquidation, dissolution or similar relief under
any law; (v) files an answer or other pleading admitting or failing to contest
the material allegations of a petition filed against such person in a
proceeding of the type described in subclauses (I) through (iv) of this clause;
or (vi) seeks, consents to or acquiesces in the appointment of a trustee,
receiver or liquidator of such person or of all or any substantial part of such
person's properties.

      "Bekaert" shall mean Bekaert Corporation, a Delaware corporation.

      "Business Plan" shall have the meaning set forth in Section 4.1 of this
Agreement.

      "Buyout Closing" shall have the meaning set forth in Section 9.3(b) of
this Agreement.

      "Buyout Default" shall mean any of the following occurring prior to
Unification unless waived by Bekaert and ECD:

         (1)  Violation of ECD, United Solar, Bekaert or the Company of the
         noncompetition provisions of the Noncompetition Agreement between
         ECD, Bekaert and N.V. Bekaert S. A., a Belgian corporation of
         even date herewith; or

         (2)  Violation by United Solar of the exclusivity provision of the
         Exclusive Supply Agreement; or

         (3)  Violation by ECD, United Solar or Bekaert of the exclusivity
         provisions in the License Agreements; or

         (4)  Issuance by United Solar of additional equity securities or
         redemption by United Solar of its outstanding equity securities.

      "Buyout Event" shall have the meaning set forth in Section 9.1 of this
Agreement

      "Buyout Rate" shall mean the LIBOR rate plus two percent (2%).

      "Capital Account" shall mean with respect to any Member the capital
account which the Company establishes and maintains for such Member pursuant to
Section 3.4 of this Agreement.

      "Capital Contribution" shall mean the total value of cash and fair
market value of property (including promissory notes or other obligation to
contribute cash or property) contributed to the Company by Members.

      "Certificate" shall have the meaning set forth in Section 2.1 of this
Agreement.

      "Chairman" shall have the meaning set forth in Section 6.2.2 of this
Agreement.

<PAGE>

      "Change In Control" shall mean the disposition of all or substantially
all of the assets of, the merger or consolidation of, or the sale or exchange of
stock by the Company or its Members that results in a change of at least fifty
percent (50%) of the voting stock of: (i) Bekaert, in the case of Bekaert, or
(ii) ECD, in the case of United Solar, other than to one of its Affiliates.

      "Close Corporation Shareholder Agreement" shall mean the Close
Corporation Shareholder Agreement between ECD, United Solar and Bekaert dated of
even date hereof.

      "Closing Date" shall mean the Closing Date as defined in the Foundation
Agreement by and among Bekaert, United Solar and Energy Conversion Devices,
Inc., a Delaware corporation, of even date hereof.

      "Closing Percent" shall have the meaning set forth in Section 9.3 of
this Agreement.

      "Code" shall mean the Internal Revenue Code of 1986, as amended from
time to time, the provisions of succeeding law, and to the extent applicable,
the Regulations.

      "Company" shall mean Bekaert ECD Solar Systems LLC, a Delaware limited
liability company.

      "Company Minimum Gain" has the meaning set forth in Sections
1.704-2(b)(2) and 1.704-2(d) of the Regulations.

      "Continuation Election" shall have the meaning set forth in Section
10.1.2 of this Agreement

      "Cure Period" shall have the meaning set forth in Section 9.2 of this
Agreement.

      "Deadlock" shall have the meaning set forth in Section 6.2.6 of this
Agreement.

      "Deferred Amount" shall have the meaning set forth in Section 9.3(c) of
this Agreement.

      "Demand" shall have the meaning set forth in Section 6.2.6(c) of this
Agreement.

      "Demanding Member" shall have the meaning set forth in Section 6.2.6(c)
of this Agreement.

      "Designated Representative" shall have the meaning set forth in Section
6.2.6(a) of this Agreement.

      "Disinterested Officer" shall have the meaning set forth in Section
6.2.6(b) of this Agreement.

      "Dissolution Event" shall have the meaning set forth in Section 10.1.1.

<PAGE>

      "Distributable Cash" shall mean the amount of cash which the Management
Committee deems available for distribution to the Members, taking into account
all Company debts, liabilities, and obligations of the Company then due and
working capital and other amounts which the Management Committee deems necessary
for the Company's business or to place into reserves for customary and usual
claims with respect to such business.

      "ECD" shall mean Energy Conversion Devices, Inc., a Delaware corporation.

      "Economic Interest" shall mean a Member's or Assignee's share of one or
more of the Company's Net Profits, Net Losses, and distributions of the
Company's assets pursuant to this Agreement and the Act, but shall not include
any other rights of a Member, including, without limitation, the right to vote
or participate in the management, or except as provided in Section 18-305 of the
Act, any right to information concerning the business and affairs of Company.

      "Employee Lease Agreements" shall mean the Employee Lease Agreement
between the Company and United Solar and the Employee Lease Agreement between
the Company and Bekaert, both dated of even date hereof.

      "Equipment Lease Agreement" shall mean the Equipment Lease Agreement
between the Company and United Solar dated of even date hereof.

      "Exclusive Supply Agreement" shall mean the Exclusive Supply Agreement
between United Solar and the Company dated of even date hereof.

      "Exit Proposal" shall have the meaning set forth in Section 6.2.6(d) of
this Agreement.

      "Exit Solution" shall have the meaning set forth in Section 6.2.6(d) of
this Agreement.

      "Fair Market Value" shall have the meaning set forth in Section 9.3 of
this Agreement.

      "Fiscal Year" shall mean the Company's fiscal year, which shall be the
calendar year.

      "Foundation Agreement" shall have the meaning set forth in Recital A of
this Agreement.

      "FujiLease Guarantee" shall have the meaning set forth in Section 4.10
of this Agreement.

      "Governmental Authority" shall mean a federal, state, local or foreign
governmental authority; a state, province, commonwealth, territory or district
thereof; a county or parish; a city, town, township, village or other
municipality; a district, ward or other subdivision of any of the foregoing; any
executive, legislative or other governing body of any of the foregoing; any
agency, authority, board, department, system, service, office, commission,
committee, council or other administrative body of any of the foregoing; any
court or other judicial body; and any officer, official or other representative
of any of the foregoing.

<PAGE>

      "Gross Asset Value" means, with respect to any asset, the asset's
adjusted basis for federal income tax purposes, except as follows:

      (a)  The initial Gross Asset Value of any asset contributed by a Member
           to the Company shall be the gross fair market value of such assets,
           as agreed to by the Members;

      (b)  The Gross Asset Values of all Company assets shall be adjusted to
           equal their respective gross fair market values, as determined by
           the Members as of the following times: (1) the acquisition of an
           additional interest in the Company (other than pursuant to the
           original purchase at the time of formation of the Company) by any
           new or existing Member in exchange for more than a de minimis Capital
           Contribution; (2) the distribution by the Company to a Member of
           more than a de minimis amount of Company Property as consideration
           for an interest in the Company; and (3) the liquidation of the
           Company within the meaning of Regulations Section 1.704-1(b)(2)(ii)
           (g): provided, however, that the adjustments pursuant to clauses (1)
           and (2) above shall be made only if the Members reasonably determine
           that such adjustments are necessary or appropriate to reflect the
           relative economic interests of the Members in the Company;

      (c)  The Gross Asset Value of any Company asset distributed to any
           Member shall be the gross fair market value of such asset on the
           date of distribution as agreed to by the Members;

      (d)  The Gross Asset Values of Company assets shall be increased (or
           decreased) to reflect any adjustments to the adjusted basis of such
           assets pursuant to Code Section 734(b) or Code Section 743(b), but
           only to the extent that such adjustments are taken into account in
           determining Capital Accounts pursuant to Regulations Section
           1.704-1(b)(2)(iv)(m) and Section 7.2.7 of this Agreement; provided,
           however, that Gross Asset Values shall not be adjusted pursuant to
           this paragraph to the extent the Members determine that an adjustment
           pursuant to (b) above is necessary or appropriate in connection with
           a transaction that would otherwise result in an adjustment pursuant
           to this paragraph (d); and

      (e) If the Gross Asset Value of an asset has been determined or adjusted
          pursuant to (a), (b) or (c) above, such Gross Asset Value shall
          thereafter be adjusted by the depreciation taken into account with
          respect to such asset for purposes of computing Net Profits and Net
          Losses.

      "Guaranty Agreement" shall have the meaning set forth in Section 4.9 of
this Agreement.

      "Interest Rate" shall have the meaning set forth in Section 9.3 of this
Agreement.

      "Law" shall mean any applicable constitutional provision, statute, act,
code (including the Code), law, regulation, rule, ordinance, order, decree,
ruling, proclamation, resolution, judgment, decision, declaration, or
interpretative or advisory opinion or letter of a Governmental Authority having
valid jurisdiction.

      "License Agreements" shall mean the ECD-BESS Agreement, the NVB-United
Solar Agreement, the United Solar-BESS Agreement, and the R&D Agreement.

<PAGE>

      "Management Committee" shall mean the committee of Representatives of
the Company described in Section 6.2 hereof of this Agreement.

      "Material Action" shall have the meaning set forth in Section 6.2.5 of
this Agreement.

      "Member" shall mean each Person who (a) is an initial signatory to this
Agreement or is a transferee of a Membership Interest in accordance with this
Agreement, (b) has not transferred its Membership Interest or otherwise ceased
to be a Member in accordance with this Agreement and (c) has not had its
Membership Interest terminated for any other reason.

      "Membership Interest" shall mean a Member's entire interest in the
Company including the Member's economic interest, the right to vote on or
participate in the management, and the right to receive information concerning
the business and affairs, of the Company.

      "Member Minimum Gain" means an amount, with respect to each Member
Nonrecourse Debt, equal to the Company Minimum Gain that would result if such
Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in
accordance with Section 1.704-2(i)(3) of the Regulations.

      "Member Nonrecourse Debt" has the meaning set forth in Section
1.704-2(b)(4) of the Regulations.

      "Member Nonrecourse Deductions" has the meaning set forth in Sections
1.704-2(i)(1) and 1.704-2(i)(2) of the Regulations.

      "Net Profits" and "Net Losses" shall mean the income, gain, loss and
deductions of the Company in the aggregate or separately stated, as appropriate,
determined in accordance with generally accepted accounting principles employed
under the method of accounting at the close of each Fiscal Year .

      "Nonrecourse Debt" has the meaning set forth in Section 1.704-2(b)(3)
of the Regulations.

      "Nonrecourse Deductions" has the meaning set forth in Section
1.704-2(b)(1) of the Regulations.

      "Officers" shall mean the officers of the Company as set forth in
Section 6.3 of this Agreement.

      "Operations Committee" shall have the meaning set forth in Section
6.4.1 of this Agreement.

      "Percentage Interest" shall mean the percentage of a Member as set
forth in Section 3.1 hereto, as such percentage may be adjusted from time to
time pursuant to the terms of this Agreement. Percentage Interests shall be
determined annually, unless otherwise provided herein, in accordance with the
relative proportions of the Capital Accounts of the Members, effective as of the
first day of

<PAGE>

the Company's Fiscal Year but with all distributions under this Agreement to be
deemed to have occurred on such day immediately prior to determination of the
Percentage Interest of a Member.

      "Person" shall mean an individual, general partnership, limited
partnership, limited liability company, corporation, trust, estate, real estate
investment trust association or any other entity.

      "Purchase Price" shall have the meaning set forth in Section 9.3 of
this Agreement.

      "Purchasing Member" shall have the meaning set forth in Section 9.2 of
this Agreement.

      "PV" shall mean photovoltaic.

      "PV Products" shall mean a Strip Cell or an interconnection of Strip
Cells for PV electrical power whether laminated or not.

      "PV Systems" shall mean any system integrating one or more PV Products,
if such system has one or more functionalities, one of which is the
production of PV electrical power.

      "Regulations" shall, unless the context clearly indicates otherwise,
mean the Regulations in force as final or temporary that have been issued by the
U.S. Department of Treasury pursuant to its authority under the Code, and any
successor Regulations.

      "Regulatory Allocations" shall have the meaning set forth in Section
7.2.8 of this Agreement.

      "Representative" shall mean a member of the Management Committee as set
forth in Section 6.2 of this Agreement.

      "Research and Development Agreement" shall mean the Research and
Development Agreement between the Company and United Solar dated of even date
hereof.

      "Section 704(c) Amount" shall have the meaning set forth in Section 7.3
of this Agreement.

      "Securities Act" shall have the meaning set forth in Section 5.10(iii)
of this Agreement.

      "Services Agreement" shall mean the Services Agreement between the
Company and United Solar dated of even date hereof.

      "Special Allocations" shall have the meaning set forth in Section 7.2
of this Agreement.

      "Strip Cells" shall mean a device for PV electrical power comprising
single or multiple PIN structures, a grid pattern, contacts and a coating, and
intermediaries thereof.

      "Subscription Agreement" shall mean the Subscription Agreement of
Bekaert to purchase additional membership interests in the Company dated of even
date hereof.

<PAGE>

      "Substantive Proposal" shall have the meaning set forth in Section
6.2.6(d) of this Agreement.

      "Tax Matters Member" shall have the meaning set forth in Section 11.6
of this Agreement.

      "Term" shall have the meaning set forth in Section 2.5 of this
Agreement.

      "Terminated Member" shall have the meaning set forth in Section 9.5 of
this Agreement.

      "Transfer" shall have the meaning set forth in Section 8.1 of this
Agreement.

      "Unification" shall mean the purchase by Bekaert of additional shares
in United Solar in accordance with the Unification Agreement between Bekaert and
United Solar dated of even date hereof.

      "United Solar" shall mean United Solar Systems Corp., a Delaware
corporation.

      "United Solar Contributed Assets" shall mean the assets set forth in
Section 3.2 of the Foundation Agreement.

      "United Solar Systems Corp.-Bekaert ECD Solar Systems LLC License
Agreement" shall mean the United Solar Systems Corp.- Bekaert ECD Solar Systems
LLC License Agreement between the Company and United Solar dated of even date
hereof.

<PAGE>

                                   Appendix B
                              Membership Interests

Member Name                     Membership Interest      Date
--------------------------      -------------------      --------------
Bekaert Corporation             60%                      April 11, 2000

United Solar Systems Corp.      40%                      April 11, 2000

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