Document:

exv10w1

Exhibit 10.1

CONTRACT FOR SALE

Of

SOLYNDRA PANELS

This Agreement (“Agreement”) is entered into by and between Solyndra Inc. (“SELLER”) and Solar
Power Inc. (“BUYER”).

	1.	 	Sale of Goods. BUYER hereby agrees to purchase from SELLER and SELLER agrees
to sell to BUYER the Panels (the “Goods”) described in Exhibit A attached hereto in the
quantities provided on Exhibit B attached hereto.

	2.	 	Price & Payment.

	 	(a)	 	Price.
The price for the Goods shall be set by mutual agreement; recognizing prevailing market
conditions and performance to product specification and will include cost, labor and
engineering benefits associated with the utilization of SELLER’S panels and mountings.
	 
	 	(b)	 	Commitment.
SELLER agrees that performance to product specification will determine product value to
BUYER. Value determination of Solyndra Panels includes receiving CEC or similar
listings based on Wpe or equivalent performance metrics. Additionally, Seller warrants
that Panel name plate rating will be equal to or greater than 154 Wp or equivalent.
BUYER agrees that upon successful demonstration of Panel performance of agreed upon
specifications BUYER will be obligated to purchase completed Panels at the prices
designated in Exhibit [ ].
	 
	 	(c)	 	Credit.
Subject to satisfactory credit review by SELLER, Solyndra agrees to grant to BUYER a
credit limit in the amount to be determined at time of purchase order release by Buyer.
BUYER acknowledges that SELLER will not be obligated to deliver to BUYER additional
panels exceeding the value of the credit limit.
	 
	 	(d)	 	Payment.
Upon placement of purchase order, BUYER agrees to place a 10% deposit at initial
release of each shipment. Each purchase order shall be transparent to SELLER and BUYER
agrees to pass through all product payments to SELLER as received by BUYER until SELLER
is paid in full. BUYER shall

 

 

	 	 	 	make payment for the Goods no later than the terms as mutually agreed. Payment will be
by company check wire transfer or other means of payment as agreed and accepted by
SELLER.
	 
	 	(e)	 	Currency.
BUYER and SELLER shall jointly designate the appropriate currency for the conduct of
this agreement. BUYER and SELLER shall agree upon an acceptable rate of exchange
between their two currencies. The rate of exchange shall be fixed for the period of
this agreement. Fluctuations of 5% in exchange rate values shall be accepted by both
SELLER and BUYER. Should exchange rate values fluctuate greater than 5%, BUYER and
SELLER agree to share equally in the currency value fluctuation whether favorable or
unfavorable to BUYER or SELLER’S native currency.
	 
	 	(f)	 	Taxes.
Any and all taxes, duties, and penalties such as but not limited to customs duties,
sales taxes, import duties, tariffs, taxes, surcharges and assessments imposed or
levied by government bodies in connection with BUYER’S purchase under this agreement
shall be the responsibility of the BUYER.

	3.	 	Forecast. On or before 12/31/2007, SELLER will notify BUYER of the expected
productions that will be available to BUYER between May 1, 2008 and December 31, 2008. On
the basis of this forecast, BUYER will issue a schedule of purchases by calendar quarter
to SELLER. The schedule shall be in the format of letter of intent or any method of
formal notification agreed by both parties, will be signed by both SELLER and BUYER and
will be formally attached to and made a part of this purchase agreement. Forty-five (45)
days prior to the beginning of each calendar quarter, during such period, SELLER will
schedule the quarterly quantities to monthly quantities for delivery in that period. On
the basis of the monthly schedule, BUYER will release a firm order within one (1) week of
receipt of monthly quantities notification, which will be confirmed by an order
confirmation by SELLER within one (1) week of receipt of firm order.

	4.	 	Delivery.

	 	(a)	 	Deliveries. The Purchase Order shall specify a delivery date
mutually acceptable to the SELLER and BUYER (“Delivery Date”). BUYER shall give
SELLER reasonable notice of any changes in delivery instructions. If the BUYER’S
construction or other project for which the equipment and/or materials are
required is delayed, BUYER may delay acceptance of goods by up to two (2) weeks
without consequence. If BUYER delays acceptance of goods by more than four (4)
weeks, but less than twelve (12) weeks, BUYER shall pay for warehousing, storage
and handling of goods. After twelve (12) weeks, SELLER may choose to sell stored
goods to other customers and charge buyer a 2% re-scheduling fee.

 

 

	 	(b)	 	Late Deliveries by the SELLER. If SELLER is delayed in
providing goods by up to four (4) weeks, there will be no consequence to SELLER.
For delays between four (4) and twelve (12) weeks, SELLER will provide a 1% price
reduction for the late shipment(s) only. For delays in excess of twelve (12)
weeks, BUYER may choose either a 2% price reduction for late shipment(s) only, or
BUYER may cancel the specific delinquent Purchase Order but may not cancel the
balance of the existing contract.

	5.	 	Reschedules.

	 	 	 	SELLER agrees to allow re-schedules within a mutually agreed upon period; allowing up
to 50% of planned shipment quantities to be rescheduled. SELLER will allow
cancellation of Panel deliveries with a 2% re-stocking fee. BUYER acknowledges that
upon cancellation of backlog, SELLER is released to market the re-scheduled Panels to
other customers.

	6.	 	Disclaimers and Warranty.

	 	(a)	 	Title.

SELLER warrants that as of the delivery of the Panels FOB SELLER’S address as provided
above, it has good title to the Panels; free from any security interest, lien or other
encumbrance.
	 
	 	(b)	 	Material Defects.

SELLER warrants that, at the time of delivery of the Panels FOB SELLER’S address, the
Panels shall meet the agreed upon conditions and specifications described in Exhibit A
and are free of defects in materials and fabrication. Product performance shortfalls
shall be priced in accordance with 2(a). BUYER shall have the right and obligation to
inspect the Panels on arrival and, within thirty (30) days of receipt, BUYER must give
specific written notice to SELLER of any problems or defects associated with the Panels
at the time of delivery. Failure to provide such specific written notice within said
thirty (30) day period shall result in BUYER’S deemed acceptance of the Panels.
	 
	 	(c)	 	Exclusions from Warranty.

Excluded from the warranty are problems due to accidents, misuse, misapplication,
storage damage, delivery damage, negligence, or other harm to the Panels, provided
SELLER is not the direct actual cause of such problems. BUYER shall not modify Panels
or Modules frames in any way without express written agreement by Solyndra Inc.
	 
	 	(d)	 	No Other Warranty.

EXCEPT AS SPECIFICALLY PROVIDED HEREIN IN ATTACHMENT A, SELLER DOES MAKE AND HEREBY
DISCLAIMS ANY AND ALL OTHER WARRANTIES AND GUARANTEES OF ANY KIND OR

 

 

	 	 	 	NATURE WHATSOEVER, INCLUDING WITHOUT LIMITATION ANY EXPRESS OR IMPLIED WARRANTIES OF
MERCHANTABILITY OF FITNESS FOR A PARTICULAR PURPOSE.

	7.	 	Nondisclosure.

By virtue of this Agreement, BUYER may have access to information that is confidential to
SELLER (“Confidential Information”). Confidential Information shall include, but not be
limited to, the terms and pricing under this Agreement, the technical and other specifications
for the Panels and all information identified as confidential. Confidential Information shall
not include information that: (a) is or becomes a part of the public domain through no act or
omission of BUYER; (b) was in the BUYER’S lawful possession prior to the disclosure and had not
been obtained by BUYER either directly or indirectly form the disclosing party; (c) is lawfully
disclosed to the BUYER by a third party without restriction on disclosure; (d) is independently
developed by BUYER; and (e) BUYER will not deconstruct Modules or panels for the purpose of
reverse engineering. BUYER agrees to hold Confidential Information in confidence during the
term of this Agreement and for a period of three (3) years after termination of this Agreement.
BUYER agrees that unless required by appropriate legal process, BUYER shall not make
Confidential Information available in any form to any third party or to use Confidential
Information for any purpose other than the implementation of this Agreement. BUYER agrees to
take all reasonable steps to ensure that Confidential Information is not disclosed or
distributed by its employees, representatives or agents in violation of the terms of this
Agreement.

	8.	 	Limitation of Liability.

IN NO EVENT SHALL SELLER BE LIABLE FOR ANY INDIRECT, INCIDENTIAL, PUNITIVE, SPECIAL OR
CONSEQUENTIAL DAMANGES, OR DAMAGES FOR LOSS OF PROFITS, REVENUE, OR USE INCURRED BY BUYER OR
ANY THIRD PARTY, WHETHER IN AN ACTION IN CONTRACT, OR TORT, OR OTHERWISE EVEN IF ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES. SELLER’S LIABILITY FOR DAMAGES ARISING OUT OF OR IN CONNECTION
WITH THIS AGREEMENT SHALL IN NO EVENT EXCEED THE PURCHASE PRICE OF THE PANELS. THE PROVISIONS
OF THIS AGREEMENT ALLOCATE THE RISKS BETWEEN SELLER AND BUYER. SELLER’S PRICING REFLECTS THIS
ALLOCATION OF RISK AND BUT FOR THIS ALLOCATION AND LIMITATION OF LIABILITY, SELLER WOULD NOT
HAVE ENTERED INTO THIS AGREEMENT.

	9.	 	Taxes.

BUYER will be responsible for any and all city, state and federal taxes, including, without
limitation, sales and use taxes with respect to the purchase of the Panels. BUYER agrees to
pay such taxes directly or to reimburse SELLER for all such taxes,

 

 

whether imposed on BUYER, required to be collected by SELLER, or imposed on BUYER in connection
with this Agreement.

	10.	 	Force Majeure.

SELLER shall not be deemed to be in default of any provisions of this Agreement, or for
failures in performance, resulting from acts or events beyond its reasonable control. Such
acts shall include but not be limited to acts of God, civil or military authority, civil
disturbance, war, strikes, fires, other catastrophes, labor disputes, parts or materials
shortages, failure of suppliers, acts of governmental authorities not arising out of any
violation of law by SELLER, or other events beyond SELLER’S reasonable control.

	11.	 	Miscellaneous.

	 	(a)	 	This Agreement, and all matters arising out of or relating to this
Agreement, shall be governed by the laws of the state of California, and shall be
deemed to be executed in California.
	 
	 	(b)	 	Any legal action or proceeding relating to this Agreement shall be
instituted solely in a state or federal court in the county of Santa Clara,
California. SELLER and BUYER agree to submit to the jurisdiction of, and agree
that venue is proper in, these courts in any such legal action or proceeding.
	 
	 	(c)	 	All notices, including notices of address change, required to be sent
hereunder shall be in writing and shall be deemed to have been given when mailed
by first class mail or by fax to the address listed below.
	 
	 	(d)	 	To secure payment and performance of all BUYER’S obligations
hereunder, SELLER hereby retains title to Panels and a security interest therein
until payment in full and performance by BUYER of all said obligations. When
requested by SELLER, BUYER shall duly acknowledge this Agreement, and execute,
acknowledge and deliver to SELLER, in SELLER’S usual form, a supplement hereto,
security agreement, financing statement, and other appropriate instructions to
constitute Panels are the unencumbered security for the obligations of BUYER
hereunder, or to enable SELLER to comply with all applicable filing or recording
laws.
	 
	 	(e)	 	In the event any provision of this Agreement is held to be invalid or
unenforceable, the remaining provisions of this Agreement will remain in full
force.
	 
	 	(f)	 	The waiver by either party of any default or breach of this Agreement
shall not constitute a waiver of any other or subsequent default of breach.

 

 

	 	 	 	Except of actions of non-payment or breach of SELLER’S proprietary rights, no
action, regardless of form, arising out of or in connection with this Agreement may
be brought to either party more than one year after the cause of action has
accrued.
	 
	 	(g)	 	BUYER agrees to comply fully with all relevant export laws and
regulations of the United States (“Export Laws”) to assure that the Panels are not
(1) exported, directly or indirectly, in violation of Export Laws; or (2) intended
to be used for any purposed prohibited by the Export Laws. BUYER agrees that the
Panels will only be used or operated in the United States and other nations or
territories approved in writing by SELLER. BUYER agrees to execute and deliver to
SELLER such documents as SELLER considers necessary to comply with the Export
Laws.
	 
	 	(h)	 	Nothing in this Agreement shall be construed to create a partnership,
joint venture, ore agency relationship between the parties. The parties
acknowledge that the SELLER is free to sell Solyndra products to other parties and
BUYER is free to purchase solar panels from third party suppliers whose goods
compete with SELLER’S Panels.
	 
	 	(i)	 	This Agreement constitutes the complete agreement between the parties
with respect to is subject matter and supersedes all prior or contemporaneous
agreements, understandings, representations, discussions, proposals, literature,
and the like, written or oral. Any previously existing agreement(s) and/or
purchase order(s) shall be governed by the terms and conditions contained in this
Agreement. This Agreement may not be modified or amended except in writing,
signed by a duly authorized representative of each party; no other act, document,
usage or custom shall be deemed to amend or modify this Agreement. It is
expressly agreed that the terms of this Agreement shall supersede the terms in any
BUYER purchase order or other ordering document, if any.
	 
	 	(j)	 	In any proceeding brought to enforce or interpret the terms of this
Agreement, the prevailing party shall be entitled to recover its reasonable
attorneys’ fees and costs incurred.
	 
	 	(k)	 	This Agreement shall be construed as to its fair meaning and not
strictly for or against either party.
	 
	 	(l)	 	This Agreement may be executed in one or more counterparts, each of
which shall be considered an original document but all of which together shall
constitute one agreement and by facsimile which shall nonetheless be considered
original signatures.
	 
	 	(m)	 	Neither SELLER nor BUYER may assign its rights or delegate its
obligations under this agreement without prior written consent of the other party,
which may be given or withheld in such party’s sole discretion

 

 

	 	 	 	which shall not be unreasonably withheld; provided, however, that SELLER may assign
its rights under this Agreement, including without limitation all payments and
rights to payment hereunder to any party or parties providing financing to SELLER
or its affiliates. BUYER agrees upon request, to execute a consent to such
assignment including rights of such financing parties to cure any defaults by
SELLER hereunder and, at their election, to assume this Agreement and other
customary provisions.

	 	 	 
	For: Solyndra, Inc.

	 	For: Solar Power, Inc.
	 
	 	 
	By:

	 	By:
	 
	 	 
	Title:

	 	Title:
	 
	 	 
	Date:

	 	Date:exv10w2

Exhibit 10.2

FIRST AMENDMENT TO

AGREEMENT FOR SALE OF PHOTOVOLTAIC PANELS

     This FIRST AMENDMENT TO AGREEMENT FOR SALE OF PHOTOVOLTAIC PANELS (“Amendment”) is
made and entered into as of July 24, 2008, by and between Solyndra Inc., a Delaware corporation
with principal offices at 47700 Kato Road, Freemont, California, 94538 (“SELLER”), and
Solar Power Inc., a California corporation with principal offices at 1115 Orlando Drive, Roseville,
California, 95661 (“BUYER”). SELLER and BUYER may be referred to individually as a
“Party” and collectively as the “Parties”.

     A. WHEREAS SELLER and BUYER are parties to that certain Agreement for Sale of Photovoltaic
Panels dated February 19, 2007 (“Agreement”);

     B. WHEREAS Section 11(i) of the Agreement provides that any amendment or modification
thereto must be in writing, signed by a duly authorized representative of each Party; and

     C. WHEREAS SELLER and BUYER desire to set forth in writing the following amendment to the
Agreement.

     NOW, THEREFORE, in consideration of the promises contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, BUYER and SELLER
hereby agree as follows:

     1. Defined Terms. Capitalized terms used herein and not otherwise defined herein have
the respective meanings assigned to them in the Agreement.

     2. Amendment of Agreement.

          (a) Section 2(a) — Price. Section 2(a) of the Agreement his hereby deleted in its entirety
and replaced with the following text:

“(a)
Price.

Subject to Section 2(b) of this Agreement, the purchase price for the Goods
shall be as set forth on Exhibit B. Notwithstanding the foregoing sentence,
SELLER shall reduce the purchase price if and as necessary to ensure it is
not greater than the price contemporaneously paid to SELLER by any third
party for substantially similar volumes of Goods on substantially similar
terms and conditions; provided, a price adjusted pursuant to this clause
shall not be retroactive and shall not entitle the BUYER to any refunds or
credits.”

          (b) Section 2(b) — Commitment. Section 2(b) of the Agreement is hereby deleted in its
entirety and replaced with the following text:

“(b)
Commitment.

SELLER recognizes that performance to product specification
will determine product value to BUYER. Value determination
of SELLER’s Goods includes third party certification based
upon standard performance metrics. Additionally, Seller
warrants that panel name plate rating will be equal to or
greater than 150Wp or equivalent. BUYER agrees that upon
successful completion of third party certification of the
Goods, BUYER will be obligated to purchase completed Goods
at the prices designated in Exhibit B.”

 

 

          (c) Section 2(d) — Payment. Section 2(d) of the Agreement is hereby deleted in its entirety
and replaced with the following text:

“(d)
Invoicing and Payment.

SELLER shall prepare an invoice to accompany each individual
delivery of the Goods and all other documents required to
effect shipment of such Goods. BUYER shall pay all amounts
specified in each invoice within: (i) sixty (60) days, in
2008 and 2009 or (ii) thirty (30) days in 2010, 2011 and
2012, of the receipt of such invoice or the receipt of the
Goods, whichever is later, if the invoice and the Goods are
not delivered to BUYER together. Payments shall be by
company check, wire transfer of immediately available funds
to an account designated by SELLER in the invoice, or by
other means of payment as agreed and accepted by SELLER.

     (d) Section 3 - Forecast. Section 3 is hereby deleted in its entirety and replaced
with the following text:

3.
Forecast.

On or before August 1, 2008 and prior to the start of each calendar year
thereafter, BUYER will issue to SELLER a proposed, written schedule of
purchase volumes by calendar quarter. Upon mutual discussion and agreement,
the parties shall execute a final schedule which shall be attached to and
made a part of this Agreement. Forty-five (45) days prior to the beginning
of each calendar quarter, SELLER will issue a month-by-month delivery
schedule for the previously-agreed quarterly volumes. On the basis of the
monthly schedule, and within one (1) week of its receipt, BUYER will release
firm purchase orders. SELLER must, in a signed writing, accept or propose
revisions, to such purchase orders within one (1) week of issuance by BUYER.
SELLER may, at its sole discretion, accept a purchase order from any of
BUYER’S subsidiaries or affiliates, but the terms and conditions of this
Agreement shall govern the subsidiary’s or affiliate’s purchase of Goods and
BUYER shall remain directly obligated to fulfill all of its responsibilities
under this Agreement as if BUYER had issued the purchase order. Any sales
to subsidiaries or affiliates of BUYER shall be counted in determining the
Parties’ compliance with their purchase and sale obligations.”

     (e) Section 4 — New Section. A new section 4(c) shall be added as follows:

“(c).
Delivery, title and risk of loss.

Delivery shall occur FCA BUYER’s designated carrier in Fremont, California
or the Port of Oakland, California. Passage of title and risk of loss from
SELLER to BUYER shall occur upon delivery.”

     (f) Section 11(n) - New section. A new section 11(n) shall be added as follows:

“(c).
Term.

The term of this agreement shall commence upon mutual execution by the
parties hereto and shall expire automatically on December 31, 2012 unless
earlier extended by mutual agreement.”

3. Amendment of Exhibits.

          (a) Exhibit A – Product Description and Specifications. Exhibit A of the Agreement is
hereby deleted in its entirety and replaced by Appendix A of this Amendment.

          (b) Exhibit B – Committed Volumes and Options. Exhibit B of the Agreement is hereby
deleted in its entirety and replaced by Appendix B of this Amendment.

 

 

          (c) Exhibit C – Pricing. Exhibit C of the Agreement is hereby deleted in its
entirety.

4. Miscellaneous.

          (a) Ratification of Agreement. The Agreement, as specifically amended by this Amendment, is
and shall continue to be in full force and effect and is hereby in all respects ratified and
confirmed.

          (b) Entire Agreement. The Agreement, as amended by this Amendment, reflects the entire
agreement between the Parties and supersedes all prior or contemporaneous agreements between the
Parties with respect to the subject matter of the Agreement.

          (c) Severability. If any term or provision of this Amendment or the application thereof to
any person or circumstance shall to any extent be found to be invalid, void, or unenforceable, the
remaining provisions of this Amendment and any application thereof shall, nevertheless, continue in
full force and effect without being impaired or invalidated in any way.

          (d) Waiver. No waiver of any violation or nonperformance of this Amendment in one instance
shall be deemed to be a waiver of any violation or nonperformance in any other instance. All
waivers must be in writing.

          (e) Representations. Each Party warrants that it has the authority to enter into this
Amendment and perform its obligations hereunder, and its performance hereunder will not conflict
with, or cause a breach of, any other agreement to which it is a party.

          (f) Headings. The headings used herein are for the purpose of convenience only and shall not
be used to construe the meaning of this Amendment in any respect.

          (g) Governing Law. This Amendment and the construction and interpretation thereof, shall be
governed by, construed and enforced in accordance with the law of the State of California without
application of its choice of law rules.

          (h) Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed and delivered
shall be deemed an original, but all such counterparts together shall constitute one and the same
instrument.

     IN WITNESS WHEREOF, BUYER and SELLER executed this Amendment as of the date first written
above.

	 	 	 
	SOLYNDRA INC.:	 	SOLAR POWER INC.:
	 
	 	 
	a Delaware corporation

	 	a California corporation
	 

	 	 
	 
	 	 
	By:

	 	By:
	 

	 	 
	Signature

	 	Signature
	 
	 	 
	 

	 	 
	Name

	 	Name
	 
	 	 
	 

	 	 
	Date
	 	Date
	 
	 	 
	 

	 	 
	Address:

	 	Address:

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