Document:

EX-4.2 Amendment No. 1 to Rights Agreement

Exhibit 4.2

AMENDMENT NO. 1 TO RIGHTS AGREEMENT

     Amendment No. 1 dated as of June 2, 2008 (this “Amendment”) to the Rights Agreement, dated as
of October 17, 2007 (the “Rights Agreement”), between Yingli Green Energy Holding Company Limited,
a Cayman Islands company (the “Company”), and RBC Dexia Corporate Services Hong Kong Limited (the
“Rights Agent”). Capitalized terms used herein and not defined shall have the meanings specified
in the Rights Agreement.

     WHEREAS, the Company and the Rights Agent are parties to the Rights Agreement;

     WHEREAS, Section 27 of the Rights Agreement provides that the Company may in its sole and
absolute discretion supplement or amend any provision of the Rights Agreement in any respect
without the approval of any holders of Rights;

     WHEREAS, the Board of Directors of the Company has determined that it is in the best interests
of the Company and its shareholders to modify the terms of the Rights Agreement as set forth in
this Amendment;

     WHEREAS, pursuant to Section 27 of the Rights Agreement, (i) an appropriate officer of the
Company has delivered a certificate to the Rights Agent stating that the proposed supplements and
amendments to the Rights Agreement as set forth in this Amendment are in compliance with Section 27
of the Rights Agreement, and (ii) the Company is entering into this Amendment and directing the
Rights Agent to enter into this Amendment; and

     WHEREAS, all acts and things necessary to make this Amendment a valid agreement, enforceable
according to its terms, have been done and performed, and the execution and delivery of this
Amendment by the Company and the Rights Agent have been in all respects duly authorized by the
Company and the Rights Agent.

     NOW, THEREFORE, in consideration of the promises and mutual agreements set forth herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound, the Company and the Rights Agent hereby agree as
follows:

     A. Amendment of Certain Definitions. The definition of “Yingli Power Entity” in Section
1 of the Rights Agreement is hereby amended and restated in its entirety to read as follows:

“Yingli Power Entity” shall mean Yingli Power Holding Company Limited, a
British Virgin Islands company, or any Affiliate thereof, or any pledgee, chargee or
mortgagee of any Ordinary Shares of the Company held by Yingli Power Holding Company
Limited or any transferee of such pledgee, chargee or mortgagee.

 

 

     B. Effect of Amendment. Except as expressly set forth herein, the Rights Agreement shall
not by implication or otherwise be supplemented or amended by virtue of this Amendment, but shall
remain in full force and effect, as amended hereby. This Amendment shall be construed in
accordance with and as a part of the Rights Agreement, and all terms, conditions, representations,
warranties, covenants and agreements set forth in the Rights Agreement and each other instrument or
agreement referred to therein, except as herein amended, are hereby ratified and confirmed. To the
extent that there is a conflict between the terms and provisions of the Rights Agreement and this
Amendment, the terms and provisions of this Amendment shall govern for purposes of the subject
matter of this Amendment only.

     C. Waiver of Notice. The Rights Agent and the Company hereby waive any notice requirement
with respect to each other under the Rights Agreement, if any, pertaining to the matters covered by
this Amendment.

     D. Severability. If any provision, covenant or restriction of this Amendment is held by a
court of competent jurisdiction or other authority to be invalid, illegal or unenforceable, the
remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain in
full force and effect and shall in no way be effected, impaired or invalidated.

     E. Governing Law. This Amendment shall be deemed to be a contract made under the laws of
the State of New York, U.S.A. and for all purposes shall be governed by and construed in accordance
with the laws of such State applicable to contracts to be made and performed entirely within such
State, except to the extent that mandatory provisions of the laws of the Cayman Islands are
applicable.

     F. Counterparts. This Amendment may be executed in any number of counterparts and each of
such counterparts shall for all purposes be deemed to be an original, and all such counterparts
shall together constitute but one and the same instrument.

     G. Descriptive Headings. Descriptive headings appear herein for convenience only and
shall not control or affect the meaning or construction of any of the provisions hereof.

     H. Effective Date of Amendment. This Amendment shall be deemed effective as of the date
first written above, as if executed on such date.

[Signature Page Follows on the Next Page]

2

 

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the date first written above.

	 	 	 	 	 
	 	YINGLI GREEN ENERGY HOLDING COMPANY LIMITED

 	 
	 	By:  	/s/ Liansheng Miao
 	 
	 	 	Name:  	Liansheng Miao 	 
	 	 	Title:  	Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	RBC DEXIA CORPORATE SERVICES HONG KONG LIMITED

 	 
	 	By:  	/s/ Rebecca Lee
 	 
	 	 	Name:  	Rebecca Lee 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	               /s/ John Ham
 	 
	 	 	Name:  	John Ham 	 
	 	 	Title:  	Head, Compliance and Legal, Asia 	 
	 

3EXHIBIT 10.1
                                  AMENDMENT # 4

TO THE ASSURANCE OF DISCONTINUANCE PURSUANT TO EXECUTIVE LAW ss. 63(15) BETWEEN
THE ATTORNEY GENERAL OF THE STATE OF NEW YORK AND WILLIS GROUP HOLDINGS LTD,
WILLIS NORTH AMERICA INC., AND WILLIS OF NEW YORK, INC. (collectively "WILLIS")
DATED APRIL 7, 2005 (hereinafter, the "Assurance") and

                                  AMENDMENT #3

TO THE STIPULATION ENTERED INTO BY THE NEW YORK INSURANCE DEPARTMENT WITH WILLIS
AND CERTAIN WILLIS AFFILIATES AS SPECIFIED THEREIN (collectively "WILLIS GROUP")
DATED APRIL 8, 2005 (hereinafter, the "Stipulation")

         WHEREAS, the parties recognize that Willis from time to time has
competitive interests in acquiring brokerage companies; and

         WHEREAS, the parties recognize that most of these brokerage companies
continue to accept forms of Compensation prohibited by the Assurance; and

         WHEREAS, the parties have agreed that permitting Willis to make such
acquisitions will enable Willis to transition the regional and local brokerage
companies from their current Compensation practices to the transparent, clear,
and conflict-free Compensation practices agreed in this Assurance is in the best
interests of insurance consumers; and

         WHEREAS, the parties have agreed to amend the Assurance to permit
Willis to phase-out prohibited Compensation from acquired entities over an
orderly and efficient period, consistent with the terms and conditions of this
Agreement;

         NOW, THEREFORE, the parties hereby agree that the Assurance shall be
clarified and amended as follows:

1.       Paragraph 7 of the Assurance is hereby amended, such that the first and
second sentences shall be amended to read as follows:

         "Subject to Paragraph 9.2, in connection with its insurance brokerage,
         agency, producing, consulting and other services in placing, renewing,
         consulting on or servicing any insurance policy, Willis shall accept
         only: a specific fee to be paid by the client; a specific percentage
         commission on premium to be paid by the insurer set at the time of
         purchase, renewal, placement or servicing of the insurance policy; a
         specific fee for service(s) to be paid by the insurer set at the time
         of purchase, renewal, placement or servicing of the insurance policy;
         or a combination of fee and commission. Willis shall accept no such
         commissions or fees unless, before the binding of any such policy, or
         provision of any such service: (a) Willis in plain, unambiguous written
         language fully discloses such commissions or fees in either dollars or
         percentage amounts, and the specific nature of each service for which
         fees are to be received; and (b) the U.S. client consents in writing."

<PAGE>

2.       Paragraph 9 shall be renumbered 9.1.

3.       A new Paragraph 9.2 shall be inserted into the Assurance reading:

         "Notwithstanding the preceding paragraph, in the event Willis acquires
         a controlling share in an insurance brokerage firm, partnership or
         company ("acquired company") that currently is not prohibited from
         accepting Contingent Compensation, Willis shall not be in violation of
         this Assurance if Willis (a) transitions the acquired company so that
         the acquired company no longer accepts Contingent Compensation on
         business placed on behalf of existing clients no later than three years
         after the effective date of the acquisition; (b) prohibits the acquired
         company from accepting Contingent Compensation on (i) any business
         placed on behalf of existing clients for which the acquired company was
         not receiving Contingent Compensation on the effective date of the
         acquisition, and (ii) all business placed on behalf of any new clients
         produced on and after the effective date of the acquisition; (c)
         clearly identifies to the acquired company's existing clients the form
         and basis of Compensation accepted by the acquired company during the
         transition period, and gets consent from the U.S. client to keep all
         Compensation at the first renewal of each policy consistent with the
         procedures outlined in Paragraph 14; (d) makes the acquired company
         subject to all of the other Business Reforms agreed in the Assurance
         within 180 days of the acquisition, or at the later renewal of each
         policy if compliance cannot be completed with regard to that policy
         within the 180 day period; and (e) informs the New York State Insurance
         Department of the status of the implementation of Business Reforms
         every 90 days after the acquisition until all existing clients have
         renewed or implementation is completed, whichever is sooner. For
         purposes of this paragraph, "existing client" is an insurance client of
         the acquired company for which an insurance policy or product produced
         by the acquired company is in effect on the effective date of the
         acquisition; "new client" is any client of the acquired company other
         than an existing client. It is the intention of the parties that the
         purpose of this Paragraph is to bring any company acquired by Willis
         into compliance with the Compensation practices agreed to in this
         Assurance in as orderly fashion as possible; nothing in this Paragraph
         shall be used or be construed to otherwise circumvent the requirements
         of this Assurance."

4.       A new Paragraph 9.3 shall be inserted into the Assurance reading:

         "If Willis acquires a company, and elects to continue to accept
         Contingent Compensation during the transition period in accordance with
         Paragraph 9.2 above, then Willis shall modify its website and all other
         public pronouncements regarding the Compensation it receives from
         insurers to clearly disclose (a) that it accepts Contingent
         Compensation with respect to policies of existing clients of acquired
         companies during a three-year transition period after the acquisition;
         and (b) the names and locations, including branch offices, of those
         acquired companies, together with the respective dates that the
         transition periods end.

<PAGE>

5.       Paragraph 14 of the Assurance is hereby amended by adding the following
sentence to the end of the Paragraph:

         "To the extent any Contingent Compensation received during the period
         permitted by Paragraph 9.2 cannot be defined with certainty prior to
         binding, Willis will describe the methods of determining and the best
         estimated amount of such compensation in as reasonable detail as
         possible and will comply with the remaining requirements of this
         Paragraph."

6.       Other than as amended above, the Assurance shall remain in full force
and effect.

7.       All references in the Stipulation to the Assurance of Discontinuance
shall be deemed to include this Amendment.

8.       This Amendment may be executed in counterparts.

<PAGE>

         WHEREFORE, the following signatures are affixed hereto on this ____ day
of May, 2008.

Honorable Andrew Cuomo                   New York State Insurance Department

______________________                   By: __________________________
Attorney General                         Robert H. Easton
State of New York                        Deputy Superintendent & General Counsel
120 Broadway, 25th Floor                 25 Beaver Street
New York, NY 10271                       New York, NY 10004

Willis Group Holdings Limited
Willis North America Inc.
Willis of New York, Inc. and
for purposes of the Stipulation,
on behalf of the Willis Group

By: _____________________
Adam G. Ciongoli
Group General Counsel
1 World Financial Center
200 Liberty Street, 7th Floor
New York, NY  10281

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