Document:

exv10w1

Exhibit 10.1

INDEMNIFICATION AGREEMENT

     THIS INDEMNIFICATION AGREEMENT (this “Agreement”) is made as of May      , 2011, by and between
NOBAO RENEWABLE ENERGY HOLDINGS LIMITED, an exempted company duly incorporated and validly existing
under the Law of the Cayman Islands (the “Company”), and
                               (the “Indemnitee”), a
director of the Company.

     WHEREAS, the Indemnitee has agreed to serve as a director of the Company and in such capacity
will render valuable services to the Company; and

     WHEREAS, in order to induce and encourage highly experienced and capable persons such as the
Indemnitee to serve as directors of the Company, the Board of Directors has determined that this
Agreement is not only reasonable and prudent, but necessary to promote and ensure the best
interests of the Company and its shareholders;

     NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth,
and other good and valuable consideration, including, without limitation, the service of the
Indemnitee, the receipt of which hereby is acknowledged, and in order to induce the Indemnitee to
serve as a director of the Company, the Company and the Indemnitee hereby agree as follows:

     1. Definitions. As used in this Agreement:

          (a) “Board of Directors” shall mean the board of directors of the Company.

          (b) “Change in Control” shall mean a change in control of the Company of a nature that would
be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in
response to any similar item on any similar or successor schedule or form) promulgated under the
United States Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder (collectively, the “Act”), whether or not the Company is then subject to
such reporting requirement; provided, however, that, without limitation, such a
Change in Control shall be deemed to have occurred (irrespective of the applicability of the
initial clause of this definition) if (i) any “person” (as such term is used in Sections 13(d) and
14(d) of the Act, but excluding any trustee or other fiduciary holding securities pursuant to an
employee benefit or welfare plan or employee share plan of the Company or any subsidiary of the
Company, or any entity organized, appointed, established or holding securities of the Company with
voting power for or pursuant to the terms of any such plan) is or becomes the “beneficial owner”
(as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company
representing 20% or more of the combined voting power of the Company’s then outstanding securities
without the prior approval of at least two-thirds of the Continuing Directors (as defined below) in
office immediately prior to such person’s attaining such interest; (ii) the Company is a party to a
merger, consolidation, scheme of arrangement, sale of assets or other reorganization, or a proxy
contest, as a consequence of which Continuing Directors in office immediately prior to such
transaction or event constitute less than a majority of the Board of Directors of the Company (or
any successor entity) thereafter; or (iii) during any period of two (2) consecutive years,
individuals who at the beginning of such period constituted the Board of Directors of the Company
(including for this purpose any new director whose election or nomination for election by the
Company’s

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shareholders was approved by a vote of at least two-thirds of the directors then still in
office who were directors at the beginning of such period) (such directors being referred to herein
as “Continuing Directors”) cease for any reason to constitute at least a majority of the Board of
Directors of the Company.

          (c) “Disinterested Director” with respect to any request by the Indemnitee for indemnification
or advancement of expenses hereunder shall mean a director of the Company who neither is nor was a
party to the Proceeding (as defined below) in respect of which indemnification or advancement is
being sought by the Indemnitee.

          (d) The term “Expenses” shall mean, without limitation, expenses of Proceedings, including
attorneys’ fees, disbursements and retainers, accounting and witness fees, expenses related to the
preparation or service as a witness, travel and deposition costs, expenses of investigations,
judicial or administrative proceedings and appeals, amounts paid in settlement of a Proceeding by
or on behalf of the Indemnitee, costs of attachment or similar bonds, any expenses of attempting to
establish or establishing a right to indemnification or advancement of expenses, under this
Agreement, the Company’s Memorandum of Association and Articles of Association as currently in
effect (the “Articles”), applicable law or otherwise, and reasonable compensation for time spent by
the Indemnitee in connection with the investigation, defense or appeal of a Proceeding or action
for indemnification for which the Indemnitee is not otherwise compensated by the Company or any
third party.

          (e) The term “Independent Legal Counsel” shall mean any reputable firm of attorneys authorized
to practice in the applicable jurisdiction to which such firm’s determination is sought pursuant to
Section 8(b) or (c) below reasonably selected by the Board of Directors of the Company, so long as
such firm has not represented the Company, the Company’s subsidiaries or affiliates, the
Indemnitee, any entity controlled by the Indemnitee, or any party adverse to the Company.
Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person
who, under applicable standards of professional conduct then prevailing, may have a conflict of
interest in representing either the Company or the Indemnitee in an action to determine the
Indemnitee’s right to indemnification or advancement of expenses under this Agreement, the
Company’s Articles, applicable law or otherwise.

          (f) The term “Proceeding” shall mean any threatened, pending or completed action, suit,
arbitration, alternate dispute resolution mechanism, or any other proceeding (including, without
limitation, an appeal therefrom), formal or informal, whether brought in the name of the Company or
otherwise, whether of a civil, criminal, administrative or investigative nature, and whether by, in
or involving a court or an administrative, other governmental or private entity or body (including,
without limitation, an investigation by the Company or its Board of Directors), by reason of (i)
the fact that the Indemnitee is or was a director of the Company, or is or was serving at the
request of the Company as an agent of another enterprise, whether or not the Indemnitee is serving
in such capacity at the time any liability or expense is incurred for which indemnification or
reimbursement is to be provided under this Agreement, (ii) any actual or alleged act or omission or
neglect or breach of duty, including, without limitation, any actual or alleged error or
misstatement or misleading statement, which the Indemnitee commits or suffers while acting in any
such capacity, or (iii) the Indemnitee attempting to establish or establishing a

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right to indemnification or advancement of expenses pursuant to this Agreement, the Company’s
Articles, applicable law or otherwise.

          (g) The phrase “serving at the request of the Company as an agent of another enterprise” or
any similar terminology shall mean, unless the context otherwise requires, serving at the request
of the Company as a director, manager, officer, employee or agent of another corporation,
partnership, joint venture, limited liability company, trust, employee benefit or welfare plan or
other enterprise, foreign or domestic. The phrase “serving at the request of the Company” shall
include, without limitation, any service as a director of the Company which imposes duties on, or
involves services by, such director with respect to the Company or any of the Company’s
subsidiaries, affiliates, employee benefit or welfare plans, such plan’s participants or
beneficiaries or any other enterprise, foreign or domestic. In the event that the Indemnitee shall
be a director, officer, employee or agent of another corporation, partnership, joint venture,
limited liability company, trust, employee benefit or welfare plan or other enterprise, foreign or
domestic, 50% or more of the ordinary shares, combined voting power or total equity interest of
which is owned by the Company or any subsidiary or affiliate thereof, then it shall be presumed
conclusively that the Indemnitee is so acting at the request of the Company.

     2. Service by the Indemnitee. The Indemnitee has agreed to serve as a director of the
Company for so long as the Indemnitee is duly elected and qualified, appointed or until such time
as the Indemnitee tenders a resignation in writing or is removed as a director; provided, however,
that the Indemnitee may at any time and for any reason resign from such position (subject to any
other contractual obligation or other obligation imposed by operation of law).

     3. Proceeding Other Than a Proceeding By or In the Right of the Company. The Company
shall indemnify the Indemnitee if the Indemnitee is a party to or threatened to be made a party to
or is otherwise, directly or indirectly, involved in any Proceeding (other than a Proceeding by or
in the right of the Company), by reason of the fact that the Indemnitee is or was a director of the
Company, or is or was serving at the request of the Company as an agent of another enterprise,
against all Expenses, judgments, fines, interest or penalties and taxes, in each case, which are
actually and reasonably incurred by the Indemnitee in connection with such a Proceeding, to the
fullest extent permitted by applicable law; provided, however, that any settlement
of a Proceeding must be approved in advance in writing by the Company (which approval shall not be
unreasonably withheld).

     4. Proceedings By or In the Right of the Company. The Company shall indemnify the
Indemnitee if the Indemnitee is a party to or threatened to be made a party to or is otherwise
involved in any Proceeding by or in the right of the Company to procure a judgment in its favor by
reason of the fact that the Indemnitee is or was a director of the Company, or is or was serving at
the request of the Company as an agent of another enterprise, against all Expenses, judgments,
fines, interest or penalties and taxes, which are actually and reasonably incurred by the
Indemnitee in connection with such a Proceeding, to the fullest extent permitted by applicable law.

     5. Indemnification for Costs, Charges and Expenses of Witness or Successful Party.
Notwithstanding any other provision of this Agreement (except as set forth in subparagraph 9(a)
hereof), and without a requirement for determination as required by Paragraph 8 hereof, to the
extent that the Indemnitee (a) has prepared to serve or has served as a witness in any Proceeding
in

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any way relating to (i) the Company or any of the Company’s subsidiaries, affiliates, employee
benefit or welfare plans or such plan’s participants or beneficiaries or (ii) anything done or not
done by the Indemnitee as a director of the Company or in connection with serving at the request of
the Company as an agent of another enterprise, or (b) has been successful, in whole or in part, in
defense of any Proceeding or in defense of any claim, issue or matter therein, on the merits or
otherwise, including the dismissal of a Proceeding without prejudice or the settlement of a
Proceeding without an admission of liability, in either case, the Indemnitee shall be indemnified
against all Expenses actually incurred or reasonably expected to be incurred by the Indemnitee in
connection therewith to the fullest extent permitted by applicable law. If the Indemnitee has been
wholly unsuccessful in defense of any Proceeding or in defense of any claim, issue or matter
therein, the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred
by the Indemnitee in connection therewith to the extent the Indemnitee acted in good faith and in a
manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the
Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that the
conduct involved was unlawful.

     6. Partial Indemnification. If the Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for a portion of the Expenses, judgments, fines,
interest or penalties or taxes, which are actually and reasonably incurred by the Indemnitee in the
investigation, defense, appeal or settlement of any Proceeding, but not, however, for the total
amount of the Indemnitee’s Expenses, judgments, fines, interest or penalties, or excise taxes
assessed with respect to any employee benefit or welfare plan, then the Company shall nevertheless
indemnify the Indemnitee for the portion of such Expenses, judgments, fines, interest penalties or
excise taxes to which the Indemnitee is entitled.

     7. Advancement of Expenses. The Expenses actually incurred or reasonably expected to
be incurred by the Indemnitee in any Proceeding shall be paid promptly by the Company in advance of
the final disposition of the Proceeding at the written request of the Indemnitee to the fullest
extent permitted by applicable law; provided, however, that the Indemnitee shall set forth in such
request reasonable evidence that such Expenses have been actually incurred or are reasonably
expected to be incurred by the Indemnitee in connection with such Proceeding, a statement that such
Expenses do not relate to any matter described in subparagraph 9(a) of this Agreement, and an
undertaking in writing to repay any advances if it is ultimately determined as provided in
subparagraph 8(b) of this Agreement that the Indemnitee is not entitled to indemnification under
this Agreement.

     8. Indemnification Procedure; Determination of Right to Indemnification.

          (a) Promptly after receipt by the Indemnitee of notice of the commencement of any Proceeding,
the Indemnitee shall, if a claim for indemnification or advancement of Expenses in respect thereof
is to be made against the Company under this Agreement, notify the Company of the commencement
thereof in writing. The omission to so notify the Company will not relieve the Company from any
liability which the Company may have to the Indemnitee under this Agreement unless the Company
shall have lost significant substantive or procedural rights with respect to the defense of any
Proceeding as a result of such omission to so notify.

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          (b) The Indemnitee shall be conclusively presumed to have met the relevant standards of
conduct, if any, as defined by applicable law, for indemnification pursuant to this Agreement and
shall be absolutely entitled to such indemnification, unless a determination by clear and
convincing evidence is made that the Indemnitee has not met such standards by (i) the Board of
Directors by a majority vote of a quorum thereof consisting of Disinterested Directors, (ii) the
shareholders of the Company by majority vote of a quorum thereof consisting of shareholders who are
not parties to the Proceeding due to which a claim for indemnification is made under this
Agreement, (iii) Independent Legal Counsel as set forth in a written opinion (it being understood
that such Independent Legal Counsel shall make such determination only if the quorum of
Disinterested Directors referred to in clause (i) of this subparagraph 8(b) is not obtainable or if
the Board of Directors of the Company by a majority vote of a quorum thereof consisting of
Disinterested Directors so directs), or (iv) a court of competent jurisdiction; provided,
however, that if a Change in Control shall have occurred and the Indemnitee so requests in
writing, such determination shall be made only by a court of competent jurisdiction;
provided, further that a determination made pursuant to clauses (i) — (iii) above
shall be rebuttable by the Indemnitee if a court of competent jurisdiction so determines.

          (c) If a claim for indemnification or advancement of Expenses under this Agreement is not paid
by the Company within thirty (30) days after receipt by the Company of written notice thereof, the
rights provided by this Agreement shall be enforceable by the Indemnitee in any court of competent
jurisdiction. Such judicial proceeding shall be made de novo. The burden of proving by clear and
convincing evidence that indemnification or advances are not appropriate shall be on the Company.
Neither the failure of the directors or shareholders of the Company or Independent Legal Counsel to
have made a determination prior to the commencement of such action that indemnification or
advancement of Expenses is proper in the circumstances because the Indemnitee has met the
applicable standard of conduct, if any, nor an actual determination by the directors or
shareholders of the Company or Independent Legal Counsel that the Indemnitee has not met the
applicable standard of conduct shall be a defense to an action by the Indemnitee or create a
presumption for the purpose of such an action that the Indemnitee has not met the applicable
standard of conduct. The termination of any Proceeding by judgment, order, settlement or
conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself (i) create a
presumption that the Indemnitee did not act in good faith and in a manner which he reasonably
believed to be in the best interests of the Company and/or its shareholders, and, with respect to
any criminal Proceeding, that the Indemnitee had reasonable cause to believe that his conduct was
unlawful or (ii) otherwise adversely affect the rights of the Indemnitee to indemnification or
advancement of Expenses under this Agreement, except as may be provided herein. The Company further
agrees to stipulate in any such judicial proceeding that the Company is bound by all the provisions
of this Agreement and is precluded from making any assertion to the contrary.

          (d) If a court of competent jurisdiction shall determine that the Indemnitee is entitled to
any indemnification or advancement of Expenses hereunder, the Company shall pay all Expenses
actually and reasonably incurred by the Indemnitee in connection with such adjudication (including,
but not limited to, any appellate proceedings). The Indemnitee’s Expenses incurred in connection
with any Proceeding concerning the Indemnitee’s right to indemnification or advancement of Expenses
in whole or in part pursuant to this Agreement shall also be indemnified

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by the Company, regardless of the outcome of such a Proceeding, to the fullest extent
permitted by applicable law and the Company’s Articles.

          (e) With respect to any Proceeding for which indemnification or advancement of Expenses is
requested, the Company will be entitled to participate therein at its own expense and, except as
otherwise provided below, to the extent that it may wish, the Company may assume the defense
thereof, with counsel reasonably satisfactory to the Indemnitee. After notice from the Company to
the Indemnitee of its election to assume the defense of a Proceeding, the Company will not be
liable to the Indemnitee under this Agreement for any Expenses subsequently incurred by the
Indemnitee in connection with the defense thereof, other than as provided below. The Company shall
not settle any Proceeding in any manner which would impose any penalty or limitation on the
Indemnitee without the Indemnitee’s written consent. The Indemnitee shall have the right to employ
his own counsel in any Proceeding, but the fees and expenses of such counsel incurred after notice
from the Company of its assumption of the defense of the Proceeding shall be at the expense of the
Indemnitee, unless (i) the employment of counsel by the Indemnitee has been authorized by the
Company, (ii) the Indemnitee shall have reasonably concluded that there may be a conflict of
interest between the Company and the Indemnitee in the conduct of the defense of a Proceeding, or
(iii) the Company shall not in fact have employed counsel to assume the defense of a proceeding, in
each of which cases the fees and expenses of the Indemnitee’s counsel shall be advanced by the
Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on
behalf of the Company or as to which the Indemnitee has reasonably concluded that there may be a
conflict of interest between the Company and the Indemnitee.

     9. Limitations on Indemnification. No payments pursuant to this Agreement shall be
made by the Company:

          (a) To indemnify or advance funds to the Indemnitee for Expenses with respect to (i)
Proceedings initiated or brought voluntarily by the Indemnitee and not by way of defense, except
with respect to Proceedings brought to establish or enforce a right to indemnification under this
Agreement or any other statute or law or otherwise as required under applicable law or (ii)
Expenses incurred by the Indemnitee in connection with preparing to serve or serving, prior to a
Change in Control, as a witness in cooperation with any party or entity who or which has threatened
or commenced any action or proceeding against the Company, or any director, officer, employee,
trustee, agent, representative, subsidiary, parent corporation or affiliate of the Company, but
such indemnification or advancement of Expenses in each such case may be provided by the Company if
the Board of Directors finds it to be appropriate;

          (b) To indemnify the Indemnitee for any Expenses, judgments, fines, interest or penalties or
taxes, and sustained in any Proceeding for which payment is actually made to the Indemnitee under a
valid and collectible insurance policy, except in respect of any excess beyond the amount of
payment under such insurance;

          (c) To indemnify the Indemnitee for any Expenses, judgments, fines, expenses or penalties
sustained in any Proceeding for an accounting of profits made from the purchase or sale by the
Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Act or
similar provisions of any foreign or United States federal, state or local statute or regulation;

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          (d) To indemnify the Indemnitee for any Expenses, judgments, fines, interest or penalties or
taxes, for which the Indemnitee is actually indemnified by the Company otherwise than pursuant to
this Agreement (and on terms no less favorable to the Indemnitee than the terms hereunder);

          (e) To indemnify the Indemnitee for any Expenses (including without limitation any Expenses
relating to a Proceeding attempting to enforce this Agreement), judgments, fines, interest or
penalties or taxes, on account of the Indemnitee’s conduct if such conduct shall be finally
adjudged by a court of competent jurisdiction to have been knowingly fraudulent, deliberately
dishonest or willful misconduct, including, without limitation, any knowing fraudulent, deliberate
or willful breach of the duty of loyalty; or

          (f) If a court of competent jurisdiction finally determines that any indemnification hereunder
is unlawful.

     10. Contribution in the Event of Joint Liability.

          (a) To the fullest extent not prohibited by (and not merely to the extent affirmatively
permitted by) law, if the indemnification rights provided for in this Agreement are unavailable to
the Indemnitee in whole or in part for any reason whatsoever, in respect of any Proceeding in which
the Company is jointly liable with the Indemnitee (or would be if joined in such Proceeding), the
Company, in lieu of indemnifying the Indemnitee, shall pay, in the first instance, the entire
amount incurred by the Indemnitee, whether for judgments, liabilities, fines, penalties, amounts
paid or to be paid in settlement and/or for Expenses, without requiring the Indemnitee to
contribute to such payment, and the Company hereby waives and relinquishes any right of
contribution it may have at any time against the Indemnitee.

          (b) The Company shall not enter into any settlement of any Proceeding in which the Company is
jointly liable with the Indemnitee (or would be if joined in such Proceeding) unless such
settlement provides for a full and final release of all claims asserted against the Indemnitee.

          (c) The Company hereby agrees to fully indemnify, hold harmless and exonerate the Indemnitee
from any claims for contribution which may be brought by officers, directors or employees of the
Company (other than the Indemnitee) who may be jointly liable with the Indemnitee.

     11. Continuation of Indemnification. All agreements and obligations of the Company
contained herein shall continue during the period that the Indemnitee is a director of the Company
(or is or was serving at the request of the Company as an agent of another enterprise, foreign or
domestic) and shall continue thereafter so long as the Indemnitee shall be subject to any possible
Proceeding by reason of the fact that the Indemnitee was a director of the Company or serving in
any other capacity referred to in this Paragraph 11.

     12. Indemnification Hereunder Not Exclusive. The indemnification provided by this
Agreement shall not be deemed to be exclusive of any other rights to which the Indemnitee may be
entitled under the Company’s Articles, any agreement, vote of shareholders or vote of

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Disinterested Directors, provisions of applicable law, or otherwise, both as to action or
omission in the Indemnitee’s official capacity and as to action or omission in another capacity on
behalf of the Company while holding such office.

     13. Successors and Assigns.

          (a) This Agreement shall be binding upon, and shall inure to the benefit of, the Indemnitee
and the Indemnitee’s heirs, executors, administrators and assigns, whether or not the Indemnitee
has ceased to be a director, and the Company and its successors and assigns. Upon the sale of all
or substantially all of the business, assets or share capital of the Company to, or upon the merger
of the Company into or with, any corporation, partnership, joint venture, trust or other person,
this Agreement shall inure to the benefit of and be binding upon both the Indemnitee and such
purchaser or successor person. Subject to the foregoing, this Agreement may not be assigned by
either party without the prior written consent of the other party hereto.

          (b) If the Indemnitee is deceased and is entitled to indemnification under any provision of
this Agreement, the Company shall indemnify the Indemnitee’s estate and the Indemnitee’s spouse,
heirs, executors, administrators and assigns against, and the Company shall, and does hereby agree
to assume, any and all Expenses actually and reasonably incurred by or for the Indemnitee or the
Indemnitee’s estate, in connection with the investigation, defense, appeal or settlement of any
Proceeding. Further, when requested in writing by the spouse of the Indemnitee, and/or the
Indemnitee’s heirs, executors, administrators and assigns, the Company shall provide appropriate
evidence of the Company’s agreement set out herein to indemnify the Indemnitee against and to
itself assume such Expenses.

     14. Subsidiary Actions. The Company shall cause its subsidiaries to make loans, dividends,
contributions or other advances to the Company and/or its subsidiaries in order for the Company
honor the terms of this Agreement.

     15. Subrogation. In the event of payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who
shall execute all documents required and shall do all acts that may be necessary to secure such
rights and to enable the Company effectively to bring suit to enforce such rights.

     16. Severability. Each and every paragraph, sentence, term and provision of this
Agreement is separate and distinct so that if any paragraph, sentence, term or provision thereof
shall be held to be invalid, unlawful or unenforceable for any reason, such invalidity,
unlawfulness or unenforceability shall not affect the validity, unlawfulness or enforceability of
any other paragraph, sentence, term or provision hereof. To the extent required, any paragraph,
sentence, term or provision of this Agreement may be modified by a court of competent jurisdiction
to preserve its validity and to provide the Indemnitee with the broadest possible indemnification
permitted under applicable law. The Company’s inability, pursuant to a court order or decision, to
perform its obligations under this Agreement shall not constitute a breach of this Agreement.

     17. Savings Clause. If this Agreement or any paragraph, sentence, term or provision
hereof is invalidated on any ground by any court of competent jurisdiction, the Company shall
nevertheless indemnify the Indemnitee as to any Expenses, judgments, fines, interest or penalties,

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or excise taxes assessed with respect to any employee benefit or welfare plan, which are
incurred with respect to any Proceeding to the fullest extent permitted by any (a) applicable
paragraph, sentence, term or provision of this Agreement that has not been invalidated or (b)
applicable law.

     18. Interpretation; Governing Law. This Agreement shall be construed as a whole and
in accordance with its fair meaning and any ambiguities shall not be construed for or against
either party. Headings are for convenience only and shall not be used in construing meaning. This
Agreement shall be governed and interpreted in accordance with the laws of the State of New York
without regard to the conflict of laws principles thereof.

     19. Amendments. No amendment, waiver, modification, termination or cancellation of
this Agreement shall be effective unless in writing signed by the party against whom enforcement is
sought. The indemnification rights afforded to the Indemnitee hereby are contract rights and may
not be diminished, eliminated or otherwise affected by amendments to the Company’s Articles, or by
other agreements, including directors’ and officers’ liability insurance policies, of the Company.

     20. Counterparts. This Agreement may be executed in one or more counterparts, all of
which shall be considered one and the same agreement and shall become effective when one or more
counterparts have been signed by each party and delivered to the other.

     21. Notices. Any notice required to be given under this Agreement shall be directed
to Nobao Renewable Energy Holdings Limited, Building 4, No. 150 Yonghe Road, Shanghai, 200072,
People’s Republic of China, Attention: Legal Department, and to the Indemnitee at
                                                  , or to such other address as either shall designate to the other in writing.

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     IN WITNESS WHEREOF, the parties have executed this Indemnification Agreement as of the date
first written above.

	 	 	 	 	 
	INDEMNITEE

 	 	 
	 	 	 
	Name:  	 	 
	 	 	 	 	 
	NOBAO RENEWABLE ENERGY HOLDINGS LIMITED

 	 
	By:	 	 	 
	Name:  	 	 	 
	Title:  	 	 	 

10exv10w3

Exhibit 10.3

The Centralized Energy Supply Contract

in the Form of an Energy Management Contract

of Su-Tong Science & Technology Park

Party A: The General Administrative Office of Su-Tong Science and Technology Park

Address: 1088 Xinghu Boulevard, Nantong Municipality, Jiangsu Province, China

Legal Representative: Ge Liang

Position: Director

Postal Code: 226009

Tel: 0513-8598 5010

Party B: Nobao Energy (Nantong) Co., Ltd.

Address: 15 Latitude 14 Road, Su-Tong Science and Technology Park

Legal Representative: Kwok Ping Sun

Position: Chairman

Postal Code: 226009

Tel: 021-66520666

Venue of Execution: Nantong Municipality, Jiangsu Province

	1.	 	The Su-Tong Science and Technology Park (the “Su-Tong Park”) is a hi-tech, eco-efficient,
internationalized and composite “an eco-friendly town and international entrepreneurship park”
that integrates production, livelihood, commerce, trade, and residence into one community.
The entire Su-Tong Park is characterized by its green concept, energy conservation,
environmental protection and low carbon emissions, and one of its primary principles is
environmental balance. Party A has agreed that the urban public utilities should cover the
Centralized Energy Supply of heating, cooling and hot water services to a total GFA of 50
million square meters of new buildings in the Su-Tong Park and has designated Party B as the
sole provider of heating, cooling and hot water services using the ground source heat pump
(“GSHP”) systems under Nobao brand for the occupants of the Su-Tong Park.

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	2.	 	Party A and Party B agree to conduct cooperation under the EMC model for the Centralized
Energy Supply by GSHP-based heating, cooling and hot water supply systems for the Su-Tong Park
(hereinafter referred to as the “Project”). For such purpose, Party B shall invest in and
construct GSHP-based heating, cooling and hot water supply systems with a value of RMB32.5
billion (RMB thirty-two billion five hundred million) for a total GFA of 50 million square
meters of buildings in the Su-Tong Park. Party B shall invest in the construction of the
Project (including the laying of pipes for drawing part of the water from the Yangtze River,
the laying of outdoor pipes underground, the installation of terminals inside the premises of
the users, and the construction and installation of the equipment rooms), the ownership of
which shall be vested in Party B, and 10% of the total cost of the construction of the main
pipe that will draw water from the Yangtze River shall be reimbursed by Party A.
	 
	3.	 	If any matters covered in this Contract are governed by any specific national regulations,
such regulations shall apply. The Project under this Contract shall be implemented in
coordination with the various phases of development of the Su-Tong Park. If any adjustment is
necessary during the implementation of the Project, the parties may make appropriate additions
or amendments to this Contract.
	 
	 	 	After amicable consultation and based upon a true and full expression of their respective
intensions, Party A and Party B have come to agree as follows in accordance with the
Contract Law of the People’s Republic of China and other applicable laws and regulations and
both of them hereby agree to abide by such agreement.

Article 1 Terms and Definitions

	1.1	 	“Energy Management Contract” or “EMC” means a business model under which an energy management
solutions company enters into an energy management contract with a customer, under which the
company will provide to the customer a series of energy management services including project
design, project financing, equipment procurement, project construction, equipment installation
and commissioning, and energy services, and the company will recover its investment and reap a
profit by collecting energy management fees from customers.
	 
	1.2	 	“Party A” means the general administrative office that is authorized by the People’s
Government of Nantong to develop, construct and operate the Su-Tong Science & Technology Park,
and its legal representative is Ge Liang.
	 
	1.3	 	“Party B” means the fully-integrated energy management solutions provider which integrates
research and development, consultancy, design, production, distribution, installation and
energy services by utilizing shallow-layer ground heat energy through ground source heat
pumps, and its legal representative is Kwok Ping Sun.
	 
	1.4	 	“Gloss Floor Area” or “GFA” means the aggregate floor area within the outer walls of each
floor in the residential buildings, including usable floor area, supplemental area and
structural area.

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	1.5	 	“Centralized Energy Supply” means a manner of energy supply by which energy (including
heating, cooling, and hot water) is supplied to the multiple users in the area covered by this
Contract by one or more energy supply stations through common pipes, and equipment rooms
within the various buildings.
	 
	1.6	 	“Centralized Energy Supply Facilities” mean the GSHP-based centralized heating, cooling and
hot water supply system, including pipes laid for drawing water from the Yangtze River,
outdoors pipes laid underground, terminals installed inside the premises of the users, and
equipment rooms within the buildings.
	 
	1.7	 	“Centralized Energy Supply Connection Fees” mean connection fees collected by a Centralized
Energy Supply company for the installation of the Centralized Energy Supply Facilities within
customers’ premises.

Article 2 Overview and Term of the Project

	2.1	 	Overview of the Project

     The Project is located in the Su-Tong Park with a Gross Floor Area of 50 million square
meters.

	2.1	 	Term of the Project

     The term for collecting energy management fees for the Centralized Energy Supply under each
EMC pursuant to this Contract shall be 25 years, starting from the date of the Centralized Energy
Supply Facilities, i.e., GSHP-based heating, cooling and hot water supply systems, are installed,
commissioned, and delivered to Party A. Upon expiration of such term, the parties shall enter into
a separate cooperation contract.

Article 3 Design, Construction and Installation of the Project

	3.1	 	Design of the Project

     (i) Party A shall promptly provide information and data needed for the laying of the main pipe
for drawing water from the Yangtze River and the location, design and construction of the pump
station as reasonably required by Party B and ensure that such information and data are true,
accurate and complete. Party B shall be responsible for the design of technical proposals and
construction drawings in accordance with the relevant provisions of national regulations and on the
basis of the information and data provided by Party A, subject to the confirmation by Party A and
Party B through consultation. Once the design of the Project has been confirmed by both of the
parties, neither party shall make any modifications of it without the consent of the other party
unless the parties agree to any such modification.

     (ii) The number of Nobao-brand energy-efficient air-conditioning modules Party B will provide
for use in the Centralized Energy Supply under the Project is tentatively determined

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to be 20,000 sets. Party B shall have the right to withdraw any spare modules, provided that
the needs of the users are satisfied and, as the Project coordinator, Party A shall extend active
assistance in such withdrawal.

	3.2	 	Laying, Construction and Installation of the Main Pipes for Drawing Water from the Yangtze
River

     (i) Party A shall incorporate the construction of the Project into urban public infrastructure
construction for the Su-Tong Park. Party A will undertake and reimburse the Party B for 10% of the
total investment in the construction of the main pipes that will draw water from the Yangtze River.
In addition, Party A shall coordinate the applications for government approval and inspection in
connection with water conservancy, the location of the water intake point and the pump station, and
the planning and design of the pipeline.

     (ii) Party B shall carry out the construction and installation of the pipes required for
drawing water from the Yangtze River under the Project in accordance with the technical proposals
and construction drawings as well as the other provisions of this Contract and the relevant
provisions of national regulations. The specific construction period shall be agreed to by the
parties through consultation in accordance with Party A’s overall construction plan.

     (iii) Party A shall provide necessary office space for Party B’s personnel during the
preparatory stage and coordinate arrangements for the accommodation and boarding of Party B’s
construction personnel during the construction stage and the related expenses shall be borne by
Party B.

     (iv) Party A shall provide space required for the construction and installation of the Project
at no charge in accordance with the progress of the construction of civil engineering works and the
pipeline drawings (including such space along the length of the main pipes for drawing water from
the Yangtze River and at the site of the pump station and the power supply required for such
construction and installation).

     (v) If, for any special reason, the parties should jointly decide not to draw water from the
Yangtze River, in which case Party B would have to lay all the pipes underground, in consideration
of the extra investment Party B would have to make, Party A agrees to make Party B a supplementary
payment in the amount of RMB ten million.

	3.3	 	Party A undertakes to coordinate the execution of the specific contract by Party B and
occupants of the Su-Tong Park covering the following construction conditions:

     (i) Occupants of the Su-Tong Park shall promptly provide information and data required for the
design and construction of the Project and ensure that such information and data are true, accurate
and complete.

     (ii) Occupants of the Su-Tong Park shall provide Party B with space for the construction and
installation of the Project at no charge in accordance with the progress of the construction of
civil engineering works and the pipeline drawings as well as with the

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requirements with respect to the installation of energy-efficient air conditioners (including
but not limited to spaces where holes are to be bored through the outer walls, spaces where indoor
terminals are to be installed and spaces where the equipment is to be installed).

     (iii) Upon delivery of Party B’s relevant energy-efficient air-conditioning equipment and
materials at the site of the Project, occupants of the Su-Tong Park shall provide space at no
charge for the storage of such equipment and materials.

     (iv) Occupants of the Su-Tong Park shall provide the electric cables required for the
equipment rooms and extend such cables to the posts on the switch boxes, install separate
time-of-use meters, provide the water supply and drainage points, and supply power to the terminals
to be installed by Party B. If any equipment rooms are to be installed on the roofs as required by
the construction plan of the Project, occupants of the Su-Tong Park shall reinforce the roofs and
extend the electric cables to the locations to be designated by Party B.

     (v) The water and electricity charges to be incurred during the construction and commissioning
of the Project shall be borne by occupants of the Su-Tong Park.

Article 4 Centralized Energy Supply Temperature Range and Energy Management Fees

4.1      Party B shall ensure that the temperatures at the air blowing terminals are in the range of 22
to 26 degrees Celsius in the summer and 16 to 20 degrees Celsius in the winter, and that the
temperature of the hot water supplied ranges between 45 to 50 degrees Celsius.

4.2      Party B will collect the energy management fees for the Centralized Energy Supply from the
occupants of the Su-Tong Park based on different rates, energy supply hours and calculation methods
depending on the usage of the buildings and the buildings in the Su-Tong Park will be used as
government buildings, commercial office buildings, schools, hospitals, shopping malls, apartments,
factories and hotels. Party B will begin to collect energy management fees for the Centralized
Energy Supply from the end users within three months after completion of the installation,
commissioning and inspection of its equipment. If such equipment fails to be put into
operation three months later, a vacancy fee shall be paid to Party B
at the monthly rate of RMB [          ] per
square meter.

The energy management fee rates and the Centralized Energy Supply hours are set forth below:

     (i) for buildings to be used as government buildings, commercial office buildings, schools,
hospitals, and shopping malls, the energy management fees shall be calculated at an hourly rate of
RMB [          ] per square meter on the basis of the Gross Floor Area noted on the building property title
certificate, the number of days a user in the Su-Tong Park actually uses such supply and the number
of hours of such use each day. The minimum usage requirement of the Centralized Energy Supply is
eight hours per day and, if the daily usage falls below eight hours, it shall be deemed eight
hours; and the minimum annual usage requirement of the Centralized Energy Supply is seven months
and, if the annual usage falls below seven months, it shall be deemed seven months.

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     (ii) for buildings to be used as hotels, the energy management fees shall be calculated at an
annual rate of RMB [          ] per square meter on the basis of the Gross Floor
Area noted on the building property title certificate, and the Centralized Energy Supply will be
made available round-the-clock for the whole year including cooling, heating and hot water supply.

     (iii) for buildings to be used as factories, the energy management fees shall be calculated at
an hourly rate of RMB [          ] per square meter on the basis of the Gross Floor Area noted on the
building property title certificate. The minimum usage requirement of the Centralized Energy
Supply is eight hours per day and, if the daily usage falls below eight hours, it shall be deemed
eight hours; and the minimum annual usage requirement of the Centralized Energy Supply is seven
months and, if the annual usage falls below seven months, it shall be deemed seven months.

     If the floor height of a factory building exceeds 6 meters, the rates of charges for the
Centralized Energy Supply to the part above 6 meters shall be agreed to through consultation on the
basis of the energy load of such building.

     (iv) for the buildings to be used as residential apartments, the energy management fees shall
be calculated at the rate of RMB [          ] per KW of cooling service in summer and at the rate of RMB
[          ] per KW of heating service in winter and the charges for hot water shall be calculated at the
rate of RMB [          ] per cubic meter. The Centralized Energy Supply under these volume-based rates will
be made available round-the-clock for the whole year.

     (v) Connection Fee, which shall be calculated at the rate of RMB 50 per square meter on the
basis of the Gross Floor Area of the area to be covered by the Centralized Energy Supply.

     (vi) The above-mentioned rates to be charged for the Centralized Energy Supply shall be set on
the basis of the prevailing rates charged for electricity. If any adjustment is made in the
electricity tariff, the rates to be charged for the Centralized Energy Supply shall be adjusted by
the same percentage.

4.3      Starting from the date Party B begins to collect energy management fees from occupants of the
Park for the Centralized Energy Supply, the electricity costs for operating the energy-efficient
air-conditioning modules, fan coil units and new air fans shall be borne by Party B. If the rates
charged for the Centralized Energy Supply have to be approved, ratified or authorized by the
competent authorities in accordance with the relevant laws and regulations, Party A shall assist
Party B in handling the legal procedure for such rates to be approved, ratified or authorized in
accordance with the relevant laws and regulations.

4.4      Methods of the Calculation of the Fees for Centralized Energy Supply

     The fees for Centralized Energy Supply shall be calculated with two methods, which are (i) one
based on fixed rates and (ii) one based on the volume of energy consumed. The

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calculation method based on fixed rates shall be applicable to Articles 4.2(i), (ii) and (iii)
and the method based on the volume of energy consumed shall be applicable to Article 4.2(iv).

Article 5 Party A’s Obligations

5.1      In the investment agreements Party A will enter into with those enterprises which are to make
investments in the Su-Tong Park, Party A shall specify that no energy-intensive or highly pollutant
equipment such as oil, coal or gas-fired boilers shall be used for any air-conditioning system in
the Su-Tong Park.

     During the stage of invitation of investments from outside parties, Party A shall introduce
and promote the Project to the potential users in the Su-Tong Park, and inform them that the
Project has been incorporated into the construction of the urban public infrastructure.

     The relevant buildings in the Su-Tong Park in which Party A has made investments in their
construction shall principally use the central air-conditioning and hot water supply system under
the Project.

5.2      In the overall planning of the power distribution in the Su-Tong Park, Party A shall make a
reasonable distribution of power capacity among the buildings by taking into full consideration the
energy-saving features of the GSHP-based central air-conditioning in order to prevent waste of
power capacity.

5.3      Party A or any competent agency designated by Party A shall coordinate with Party B or any
company authorized by Party B to enter into a “Green Energy Conservation and Centralized Energy
Supply Contract” with the occupants in the Su-Tong Park. If any change occurs to the ownership of
the buildings in the Su-Tong Park upon completion of their construction, Party A or any competent
agency designated by Party A shall with Party B or any company authorized by Party B to enter into
a separate “Green Energy Conservation and Centralized Energy Supply Contract” with the new owners.

5.4      Party A shall assist Party B in making applications to the governmental authoritiesfor the
policy support and fund awards for which the relevant energy conservation projects are eligible,
preparing the relevant documents and materials, assessing the relevant projects, and organizing
such applications, and any subsidies or awards that may be obtained as a result of such application
shall be owned by Party B.

5.5      In consideration of the fact that the GSHP-based central air-conditioning system equipped with
ground source heat pumps to be installed by Party B is a recycled energy project strongly
encouraged and supported by the governmental authorities and, in accordance with the relevant
national policies concerning energy-efficient industries, Party A, as the Project coordinator,
shall be obligated to assist Party B in making an application for preferential electricity rates to
the provincial or national power supply authorities or other competent authorities in the region
where Party B is located.

Article 6 Party B’s Obligations

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6.1      Party B shall provide to the occupants in the Su-Tong Park safe and stable services through the
Centralized Energy Supply and ensure that the energy-efficient air conditioners will be in normal
operation, i.e. such air conditioners will switch on, operate, and switch off at or during the
times as agreed to with the occupants in the Su-Tong Park, and the terminal temperatures will be as
agreed in this Contract.

6.2      Party B shall be responsible for the maintenance of the Centralized Energy Supply Facilities
under the Project during the term of this Contract and carry out such maintenance on a regular
basis so as to ensure the required energy supply through the Centralized Energy Supply. Within two
hours of receipt of a report for repairs from any occupant in the Su-Tong Park during the period of
Centralized Energy Supply, Party B shall arrive at the location where repairs are required and
Party B warrants that, in an emergency, the breakdown that occurs to any air-conditioning equipment
will be fixed within 6 hours from its occurrence.

6.3      Upon execution of this Contract, Party B shall provide necessary technology, business training
and promotional literature to Party A’s relevant personnel. During Party A’s invitation of
investments from outside parties, Party B shall make arrangements for its relevant personnel to
assist Party A in promoting the Project to the occupants in the Su-Tong Park and advising them on
it during the entire process. In addition, Party B shall provide necessary technical parameters to
highlight the advantages of the Project such as the green concept, energy conservation,
environmental protection and low carbon emissions.

6.4      Party B shall complete the construction of the Project within the construction period as agreed
to by the parties except to the extent the construction period is prolonged without Party B’s
fault. Party B shall ensure that its personnel will be in strict compliance with the provisions of
national regulations, and the regulations specified by Party A on safety and sanitation at the
construction site, and obey Party A’s reasonable orders on location, and carry out the construction
of the Project in a safe and civilized way. In the course of the construction, Party B shall avoid
any pipes and lines Party A has laid and, if any construction has to be carried out on a greenbelt
or a paved road, Party B shall restore such area or road to its original state upon completion of
such construction.

6.5      Party B shall provide the brand-new unused equipment with the quality and performance meeting
the relevant standards of national regulations in accordance with the provisions of this Contract.
The installation and debugging of Party B’s equipment shall be in compliance with the relevant
standards and norms of national regulations.

6.6      For the occupant in the Su-Tong Park who has any special technical requirements that Party B’s
technology and equipment can not satisfy or the use of the Centralized Energy Supply under the
Project would result in a cost increase for the occupant in the Su-Tong Park, the relevant
provisions of this Contract are not binding.

6.7      Party B shall not: (a) make any adjustments in the energy fee or the connection fee for the
Centralized Energy Supply without authorization; (b) suspend or close its operation; or (c) suspend
or reduce its supply when conduct the Centralized Energy Supply services based on

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GSHP technology. Party B shall conduct its business operations in strict compliance with the
relevant standards and norms and shall not endanger public interests or public safety.

Article 7 Ownership and Risk Sharing

7.1      The ownership of all the Centralized Energy Supply Facilities under the Project shall be vested
in Party B. Upon the expiration of this Contract, such ownership shall be transferred to Party A.

7.2      The ownership of the property under the Project shall not be transferred as a result of Party
A’s breach of contract or earlier termination of this Contract.

7.3      If, during the term of this Contract, any of the indoor Centralized Energy Supply Facilities
which are taken care of by the occupants in the Su-Tong Park is stolen, lost or damaged, such
occupant shall compensate Party B for any losses that may be incurred as a result and Party A shall
urge such occupant to pay Party B such compensation.

Article 8 Liabilities for Breach of Contract

8.1      If either of the following events occurs, the breaching party shall be in fundamental breach of
contract and the other party shall have the right to terminate this Contract and require that the
breaching party pay liquidated damages in accordance with the provisions of laws or this Contract:

     (i) Party B has failed to complete the investment in and the installation of the GSHP-based
centralized heating, cooling and hot water supply system for the Centralized Energy Supply as
agreed in this Contract; or

     (ii) Party B has failed to provide the energy services for the Centralized Energy Supply on
time or has failed to provide the after-sales maintenance services as agreed in this Contract.

8.2      Provided this Contract has been executed and Party B has commenced the construction of the
Project, Party A shall compensate Party B for all the losses it may incur (including but not
limited to the total amount of the construction investment incurred upon the actual commencement of
the construction by Party B) if this Contract is terminated for any reason attributable to Party A
(except for the event of force majeure or any changes because of the
state policies).

8.3      Either party that is in violation of any other provision of this Contract shall also be in the
breach of contract. The non-breaching party shall have the right to require the Contract to be
performed and require the breaching party compensate it for any losses actually incurred, including
but not limited to the actual expenses the non-breaching party may incur, expenses payable to the
third party, attorney’s fees and litigation expenses.

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8.4      If either Party A and Party B takes advantage of this Contract or violates any mandatory
provisions of laws or administrative regulations during the performance of this Contract, the
non-breaching party shall have the right to terminate this Contract and prosecute the breaching
party for its liability under the law.

8.5      The parties specifically acknowledge that, if this Contract is abnormally terminated for any
reason, Party B shall always retain the ownership of the equipment and shall have the right and the
obligation to disassemble and remove the equipment in batches within an agreed time. If this
Contract is terminated for any reason attributable to Party A, after the receipt of the liquidated
damages paid by Party A, Party B shall not claim any expenses from Party A including disassembly
expenses, depreciation expenses, and value losses upon removal (in particular, the total budgeted
investment as specified in this Contract shall not be recoverable).

Article 9 Force Majeure

9.1      Events of force majeure under this Contract shall mean objective events whose occurrence can
not be foreseen, prevented or overcome, including but not limited to: natural disaster such as
thunder, lightning, flood, windstorm, earthquake, landslide and rainstorm, danger at sea,
navigation accident, war, riot, rebellion, national state of emergency (whether under any
circumstances that actually occur or under any circumstances as specified in law), martial law,
fire, labor dispute (whether any employees of the parties involved), epidemic, quarantine, or
radiation or radioactive pollution.

9.2      If one party (the “Affected Party”) is or expects to be unable to perform its obligations under
this Contract as a result of the occurrence of any event of force majeure, the Affected Party shall
serve a written notice on the other party (the “Non-Affected Party”) and provide the details of
such event within five days after the Affected Party becomes aware of such event.

9.3      The Affected Party shall take all reasonable measures to eliminate or mitigate the effect that
may be caused by such event of force majeure.

9.4      While an event of force majeure continues, the Affected Party may temporarily suspend the
obligations for performing this Contract and the period for the performance of the relevant
obligations shall be extended accordingly. The Affected Party will not assume any liability to the
Non-Affected Party for any loss or damage that may be incurred as a result. Upon the end of the
force majeure event, the Affected Party shall resume the performance of its obligations under this
Contract as soon as possible.

9.5      If the Affected Party is unable to perform any of its obligations under this Contract as a
result of an event of force majeure and the Affected Party is unable to perform its obligations
under this Contract for 90 consecutive days after the Non-Affected Party has received a notice of
such event, during which time the parties have failed to agree through consultation to use a
substitute way to carry out the Project under this Contract, either party may terminate this
Contract by informing the other party in written notice and will not assume any liability to the
other party.

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Article 10 Confidentiality

10.1      A Trade Secret as referred to in this Contract shall mean any technical and business
information that is unknown to the public, bringing the economic benefits, possessing the
practicability and being protected by the other party through the security measures.

10.2      Each party shall use any Trade Secret it has obtained from the other party exclusively for the
purpose of developing a specific project.

10.3      If any information provided by one party to the other party contains any Trade Secret as
defined in this Contract, the providing party shall mark such information as “confidential” and the
receiver shall issue a written receipt to the providing party.

10.4      The ownership of the confidential information provided by one party shall belong to the
providing party and the receiver shall be obligated to maintain the confidentiality of any
“confidential” information provided by the providing party and shall not do any of the following
without the written permission by the providing party:

     (i) disclose such information to any third party (excluding any information that must be
disclosed under law);

     (ii) use any Trade Secret from the providing party for its own benefit; or

     (iii) permit a third party to use any Trade Secret of the providing party without
authorization;

10.5      Party A and Party B unanimously agree that, upon the completion of the consultation or
construction of any specific project, one party shall return the confidential materials immediately
to the other party if the other party requires the return.

10.6      After any Trade Secret is legally made public, the corresponding confidentiality obligation
shall be released.

10.7      If any disagreement or dispute arising in connection with this Contract, such disagreement or
dispute shall first be resolved through friendly consultation. If such consultation proves
unsuccessful, either party can initiate legal proceedings in a court under the competent
jurisdiction. If this Contract or any provision of it is ruled to be invalid, the confidentiality
provision of this Contract shall remain in force and effect.

Article 11 Dispute Resolution

11.1      Any dispute that arises out of or in connection with the performance of this Contract shall be
resolved by the parties through friendly consultation.

11.2      If the parties fail to resolve any dispute through consultation within ten days after either
party serves on the other party a written notice of the existence of such dispute, such dispute may

11

 

be submitted to a people’s court of competent jurisdiction where the Project is located to be
resolved through litigation.

Article 12 Effectiveness of this Contract

12.1      This Contract shall be concluded and become effective when Party A and Party B have affixed
their respective signatures and seals to it.

12.2      Any attachments to this Contract shall be an integral part of it and shall have equal force
and effect with this Contract.

12.3      No revision or modification of this Contract shall become effective except in writing.

12.4      With respect to any matters uncovered in this Contract, the parties may enter into a
supplementary contract, which shall have equal force and effect with this Contract.

12.5      The formation, validity, interpretation and performance of this Contract and the dispute
resolution under this Contract shall be governed by laws of the People’s Republic of China.

Article 13 Miscellaneous

13.1      This Contract is executed in six counterparts, three of which shall be kept by each party and
all of which shall have equal force and effect.

13.2      A waiver of any provision of this Contract shall not be construed as a waiver of a breach of
the same or other provisions of this Contract.

13.3      The headings in this Contract are inserted for convenience only and shall not affect the
meaning, validity or interpretation of this Contract or any of its provisions.

13.4      If any provision of this Contract is judged by any court of competent jurisdiction to be
invalid or in violation of public order for any reason, the other provisions that are not judged to
be so shall remain in full force and effect.

(The remainder of this page is intentionally left blank)

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Party A (Seal): The General Administrative Office of Su-Tong Science & Technology Park

Legal
Representative (or Authorized Representative) (Signature): /s/ Chen Xiaodong

Date: January 6, 2011

Party B (Seal): Nobao Energy (Nantong) Co., Ltd.

Legal
Representative (or Authorized Representative) (Signature): /s/ Kwok Ping Sun

Date: January 6, 2011

13

 

The Centralized Energy Supply Contract

in the Form of Energy Management Contract

of the Su-Tong Science and Technology Park

Supplementary Agreement

Party A: The General Administrative Office of the Su-Tong Science and Technology Park

Address: 1088 Xinghu Boulevard, Nantong Municipality, Jiangsu Province, China

Legal Representative: Ge Liang

Position: Director

Postal Code: 226009

Tel: 0513-8598 5010

Party B: Nobao Energy (Nantong) Co., Ltd.

Address: 15 Latitude 14 Road, Su-Tong Science and Technology Park

Legal Representative: Kwok Ping Sun

Position: Chairman

Postal Code: 226009

Tel: 021-6652 0666

     Whereas Party A and Party B entered into a Centralized Energy Supply Contract in the Form of
Energy Management Contract of the Su-Tong Science and Technology Park. After friendly
consultation, Party A and Party B have reached the following supplementary agreement:

     Party B has obligations to cooperate with Party A in the infrastructure construction and
shall complete the construction of such infrastructure in connection with the Centralized Energy
Supply in the Su-Tong Science and Technology Park of Party A within eight years since 2011.

(The remainder of this page is intentionally left blank)

1

 

			
	Party A (Seal):	 	The General Administrative Office of the Su-Tong Science and Technology Park

Legal
Representative (or Authorized Representative) (Signature): /s/ Chen Xiaodong

Date: January 10, 2011

			
	Party B (Seal):	 	Nobao Energy (Nantong) Co., Ltd.

Legal
Representative (or Authorized Representative) (Signature): /s/ Kwok Ping Sun

Date: January 10, 2011

2

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