Document:

Unassociated Document

    
      Exhibit
4.7

       

      ReneSola
Ltd

       

       

      Employment
Contract

       

       

      Jiashan·China

       

      2009

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Whereas:

      

      ReneSola
Ltd intends to recruit Julia Xu as employee.
Party A and Part B, after friendly consultation and on the principle of equality
and mutual benefit, have concluded the following contract.

      

      This
Contract is made and entered into on March 2nd, 2009
by and between both Parties according to the relevant laws, decrees and
regulations of People’s Republic of China (hereafter referred to as “China” or
“State”, excluding Hong Kong, Macao and Taiwan) in Jiashan County, Jiaxing City,
Zhejiang Province, China.

       

      
        
          	
                  Party
      A:

                	
                  ReneSola
      Ltd (“Company”)

                
	
                  Address:

                	
                  Craigmuir
      Chambers P. O. Box 71, Road Town Tortola, British Virgin
      Islands

                
	
                  CEO:

                	
                  Li
      Xianshou

                
	 
      	 
      
	
                  Part
      B:

                	
                  Julia
      Xu

                
	
                  Nationality:

                	
                  USA

                
	
                  ID
      Card No:

                	
                  430093340

                
	
                  Legal
      Address:

                	 
      

        

      

       

      
        	
                Article
      1

              	
                Term
      of the Contract

              

      

      The term
of this Contract is from   March 2nd, 2009  
to   March
1st, 2012  ,
including the probation period from   March 2nd, 2009  
to  
September 2nd, 2009 
.

      

      
        	
                Article
      2

              	
                Recruitment
      Conditions for Employment

              

      

      During
the above probation period, Party A will evaluate Party B’s performance in
accordance with the following standards. After expiration of the probation
period, if Party B passes the evaluation, he/she will become formal employee of
Party A:

      

      
        	
                1.

              	
                Party
      B shall comply with all applicable laws and regulations and all Party A’s
      internal working rules, and maintain Party A’s best interests and
      reputation. Party B shall accept the job assignment
      and  designation by Party A, keep t Party A’s business secret in
      confidential and  cherish Party A’s office
      devices  and resources.

              

      

      
        	
                2.

              	
                Party
      B shall devote him/herself to work and possess  competent
      ability and  professional knowledge, business management and
      organization ability and enterprising and pragmatic spirit required for
      the position.. He/she shall try his/her best to well undertake the
      responsibility of the position.
..

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                3.

              	
                Party
      B shall disclose necessary personal information to Party A truthfully,
      including without limitation, health condition, disease history, identity,
      education background and work experience. Party B shall meet necessary
      physical and other condition for his/her
work.

              

      

      

      
        	
                Article
      3

              	
                Position
      and Location of Work

              

      

      
        	
                3.1

              	
                Party
      B will be employed to assume the position of Vice president on Investor
      Relationships . During the employment , Party B shall not engage in any
      part-time job, directly or indirectly take part in any commercial
      activities similar to the business activities which Party A engages or is
      going to  engage in, including but not limited to being employed
      by a company which competes with Party A, engaging in consulting or other
      business activities in conflict with Party A’s business, or providing
      technical information, technical parameters and trade secrets etc to Party
      A’s competing company..

              

      

      
        	
                3.2 
      

              	
                Party
      B is expected to work at the location of Party A. Based on Party A’s
      requirement and Party B’s capability, Party B hereby expressly agrees that
      Party A is entitled to adjust Party B’s position, responsibility, location
      of work and the related packages and other matters from time to time. In
      the case of any adjustment as above mentioned, the two parties shall
      confirm the adjustment in written form. 3.3 Party B’s working contents and
      responsibility, including without limitation, the authorization, contents,
      procedures and methods of work shall be determined by  the Duty
      Statement issued by Party A. Before receiving such Duty Statement, Party B
      shall comply with Party A’s internal rules and regulations
      and  the requirements of the related senior managment in
      charge.

              

      

      
        	
                3.4

              	
                Party
      B shall fulfill the assigned work according to the  Party A’s
      regulations in them of quality, quantity and time limit. Party A shall be
      entitled to assign Party B to tackle with one or more temporary jobs
      during working time. Party B shall accept and fulfill the assigned jobs to
      the best of his/her abilities or exceeding the expected commercial
      purpose.

              

      

      

      
        
          	
                  Article
      4

                	
                  Employee
      Protection,  Work Condition and Protection from Occupational
      Disease

                

        

      

      
        	
                4.1

              	
                Party
      A shall provide suitable work condition and circumstance, and ensure that
      Party B works under a work environment which doesn’t harm Party A’s
      personal safety and health. Party A shall provide  necessary
      working  protection articles and/or allowance based on the
      work’s actual circumstance in accordance with the related laws. . Party B
      shall strictly comply with Party A’s internal rules regarding work safety
      operation procedure.

              

      

      
        	
                4.2

              	
                Any  occupational
      disease and its consequences, occupational disease protective measures and
      remuneration which Party B’s work might involve have been stipulated in
      Party A’s labor protection management document or  other related
      internal documents. Party B shall read all the above-mentioned documents
      carefully and have the free access to  these documents. this
      Contract, Party A shall be considered to have fulfilled the informing
      obligation regardless whether Party B has referred to the relevant
      documents.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                4.3

              	
                If
      the occupational disease  protective measures provided by Party
      A cannot meet the requirements under relevant laws and regulations, Party
      B shall reflect  timely to relevant department or labor union
      of  Party A. Furthermore Party B shall wear or use the
      protective equipments or facilities equipped or provided by Party A as
      required.

              

      

      

      
        
          	
                  Article
      5

                	
                  Working
      Time and Vacation

                

        

      

      
        	
                5.1

              	
                Party
      A shall comply with statutory working time requirements. The detailed
      working time shall be specified by the internal regulations made by Party
      A based on the company operation. In addition, for senior managements,
      drivers, dustmen or others positions which enjoy special position subsidy,
      Party A may apply to them with flexible working time in accordance with
      the related laws and regulations.

              

      

      
        	
                5.2

              	
                Party
      B is entitled to public holiday and other legal leaves with pay stipulated
      by laws and regulations, such as wedding leave, maternity leave, funeral
      leave, sick leave, home leave and family-planning
  leave.

              

      

      
        	
                5.3

              	
                Paid leave shall be granted by
      Party B in accordance with relevant laws, regulations and rules. The
      minimum period for the paid leave will one day time. If Party B
      plans to take a paid leave with above five (5) consecutive days, Party A
      shall file an application one month in advance and Party A will arrange
      the annual leave according to actual situation.. Any entitled paid-in
      leave for one year can not be transferred to the next year. Any other
      issues with regard to paid leave shall be subject to the regulations of
      Party A.

              

      

      

      
        	
                Article
      6

              	
                Overtime
      Work and Business Trip

              

      

      
        	
                6.1

              	
                Party
      A or its subsidiaries may arrange Party B to work overtime from time to
      time based on reasonable requirement, and Party B shall do his/her best to
      comply with such arrangement with the exception of in the case of
      emergency or physical discomfort.

              

      

      
        	
                6.2

              	
                Party
      A shall pay Party B with overtime pay or have Party B take leave in other
      time equivalent to the overtime for the work, but the staff applied with
      flexible working time is excluded. The specific method and procedure will
      follow the related laws and regulations as well as Party A’s internal
      regulations.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                6.3

              	
                Party
      A may assign Party B to conduct business trip to other place in the
      country and/or abroad from time to time. With the exception of in the case
      of urgent matters or physical discomfort, Party B shall do his/her best to
      comply with such arrangement.

              

      

      

      
        	
                Article
      7

              	
                Salary
      and Social Insurance

              

      

      
        	
                7.1

              	
                Party
      B will be granted with an annual salary. The salary, bonus and other
      welfare shall be referred to the offer letter signed by both
      parties.

              

      

      
        	
                 

              	
                Party
      B shall enjoy non-taxable benefits according to PRC laws and the
      “Reimbursement Policy on Non-taxable Benefits for foreigner employees” of
      Zhejiang Yuhui Solar Energy Source
Ltd.

              

      

      
        	
                7.2

              	
                The
      salary will be paid based on monthly at the twenty-fifth day of next
      month. If any circumstance may potentially cause the delay in salary
      payment, Party A shall notify Party B two day in advance and such a delay
      should not exceed 10 days in any
case.

              

      

      
        	
                7.3

              	
                Party
      A shall undertake the cost and charges Party B shall pay for working
      within China regulated by the related PRC laws and regulations If Party A
      is required by the laws. Meanwhile Party A is entitled to withhold or
      deduct the taxes (income tax and local tax) and other charges which Party
      B shall be subject to or which Party B shall undertake through deduction
      from the salary according to the laws and regulations, which include
      without limitation; any charges required to be deducted from the salary by
      court judgment or arbitration award; any compensation which Party B shall
      pay Party A in accordance with the provisions of this Contract or the
      company internal ruels; and all other fees or expenses which shall be
      deducted frrom Party B’s salary by Party A under the applicable laws and
      regulations of PRC.

              

      

      
        
          	
                  7.3

                	
                  Party
      A’s compensation system is confidential. All the information relating to
      the compensation including without limitation the amounts, calculation
      method, payment schedule and payment method are Party A’s confidential
      information, which Party B shall not disclose to any third party in any
      way without Party A’s prior written
permit.

                

        

      

      
        	
                7.4

              	
                The
      salary payment method shall be as follows on principle: Party A transfers
      the amount to an bank account opened in the name of Party B at the same
      bank with Party A’s bank..

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                Article
      8

              	
                Labor
      Disciplines

              

      

      
        	
                8.1

              	
                Party
      B shall comply with all applicable laws and
  regulations.

              

      

      
        	
                8.2

              	
                Party
      B shall read, fully understand and comply with the Employee Manual and
      other work rules, work procedures and confidentiality requirements of
      Party A.

              

      

      
        	
                8.3

              	
                Party
      B shall not use any facilities of Party A to do anything harmful to Party
      A, including without limitation, searching or spreading anything against
      relevant laws, regulations and Party A’s reputation. During the working
      time, Party B shall also not search, send, release, spread anything or do
      any other things not relating to work through computers, telephones or
      other facilities.

              

      

      
        	
                8.4

              	
                Party
      A shall have right to inspect, guide and examine the performance of Party
      B. If Party B disobeys the labor disciplines, Party A shall have right to
      impose punishment on Party B according to applicable laws and regulations
      or terminate this Contract
unilaterally.

              

      

      
        	
                8.5

              	
                In
      Party A’s previous cases, when an employee on business accepts a bribe
      worth RMB1000, it results in that Party A actually suffers loss no less
      than RMB10000. Therefore Party B shall guarantee that he/she and his/her
      relatives will not engage in any of the following activities: 1) Party A
      or his/her relative holds shares or part of share rights and interests in
      any enterprise which has business relationships with Party A and/or
      affiliated companies (“Affiliated Companies” refer to any enterprises or
      other entities which directly or indirectly control or are controlled by
      one party. “Control” means holding 50% or above of the registered capital
      and/or capital, and/or shares) and the relations with which is handled or
      taken charge of by Party B. Affiliated enterprises will be referred to
      hereafter as “Affiliated enterprises” with share rights or part of the
      share interests (including but without limitation to stock dividend
      right). 2) Party B or any of his/her relatives works for affiliated
      enterprises; 3) Party B or any of his/her relatives engages in any
      commercial bribe or corruption, including without limitation, accepting
      any kind of undisclosed commission, gifts (including but not limited to
      cash, card, shares, expensive goods), feast or other benefits from any
      practical or potential customer, supplier, service provider, agent of
      Party A or other entity which has business relationship with Party A
      (unless obtaining Party A’s prior permit or reporting to Party A according
      to its internal rules). Party A shall have right to check any potential
      shadiness with Party B in this regard. Party B shall explain the matter in
      detail as requested by Party A and provide supporting evidence. At its
      sole discretion, Part A may request Party B to obviate the potential
      problems (including pause or terminate the relevant business). If it is
      confirmed that Party B has engaged in any commercial bribe or corruption,
      it shall be deemed that Party B has materially breached the labor
      disciplines. Party A shall have right to terminate this Contract
      immediately and according to Party A’s working rules and claim for loss or
      damage at the ratio mentioned above against Party A and shall have right
      to record such matter in Party B’s personal files or disclose such
      information to any third party.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                8.6

              	
                Party
      B shall not engage in any business activity which violates any applicable
      law or regulation of the PRC, including without limitation, violating the
      administrative rules of customs and/or conduct fraud reporting in respect
      of transaction information, or violating financial or foreign exchange
      administrative rules. Should Party A bear any liability or loss or damage,
      Party B shall be liable to make full compensation and it shall be deemed
      that Party B has materially breached the labor disciplines. Party A shall
      have right to terminate this Contract immediately in accordance with this
      Contract and Party A’s working rules and regulations and claim for loss or
      damage against Party A and shall have right to record such matter in Party
      B’s personal files or disclose such information to any third
      party.

              

      

      
        	
                8.7

              	
                The
      sale price of Party A’s products shall be in accordance with the guiding
      price determined by Party A. As operational personnel, Party B shall seek
      best price during his/her daily work. Party A shall have right to deal
      with any negative activity of Party B in accordance with the internal
      administrative rules. Should Party B have caused significant damage to
      Party A, it shall be deemed that Party B has materially breached the labor
      disciplines. Party A shall have right to terminate this Contract
      immediately and claim for loss or damage against Party A and shall have
      right to record such matter in Party B’s personal files or disclose such
      information to any third party.

              

      

      
        	
                8.8

              	
                As
      a purchaser, Party B shall exert his/her ability to cut down the prices to
      seek the best price in equal condition with similar function when
      purchasing materials, equipments, spare parts or services. Party A has
      complete faith in Party B but shall also have the right to audit and
      inspect Party B’s work. If Party A get a quotation at least 10% lower than
      the purchase price of the products/service (not limited to the products
      with same pattern or similar services) with the similar function in the
      equal condition from the third party in three months since the signing of
      the purchase contract by Party B, it shall be deemed that Party B has
      failed to performance the duty responsibly and neglected his/her duty.
      Should Party B have caused Party A to overpay (the amount referred to as
      “difference” hereafter, is the difference between the aggregate value of
      the price provided by the third party and the aggregate value of the
      quotation of the signatories) more than ten thousand yuan due to
      dereliction of duty several times, it shall be deemed that Party B has
      seriously neglected his/her duty. Party B shall pay the actual loss which
      Party A suffers (the difference which has already been paid to other
      parties by Party A). If it is discovered by relevant departments of Party
      A during the contract review period that the difference of a single
      contract exceeds twenty thousand yuan plus or the year-to-date difference
      amounts to fifty thousand yuan plus, it shall be deemed that Party B has
      seriously neglected his/her duty. Party B shall pay 20% of the difference
      to compensate the expenses paid by Party A during the review. The review,
      verification, examination and approval of the practice of Party B and
      relevant contracts, agreements and quotation, technical documents by the
      Financial Department, Internal Control Department, Legal Department and
      General Manager of Party A shall not be considered as the exemption of the
      responsibilities and obligations of Party B in seeking best price and
      shopping around or of the application of this
  Article.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                Article
      9

              	
                Should
      any one of the following situations occurs, Party A shall have right to
      terminate this Contract:

              

      

      
        	
                9.1

              	
                Party
      B fails to satisfy the recruitment conditions during the probation
      period;

              

      

      
        	
                9.2

              	
                Party
      B seriously breaches Party A’s labor disciplines or internal
      administrative rules;

              

      

      
        	
                9.3

              	
                Party
      B is seriously negligent in the performance of his/her duties, of jobbery
      or corruption causing great damages to Party
A;

              

      

      
        	
                9.4

              	
                Party
      B is accused of criminal offence or sentenced to rehabilitate through
      labour

              

      

      
        	
                9.5

              	
                Party
      B establishes labor relations with other economic organizations and
      refuses to make corrections

              

      

      
        
          
            
              	
                      9.6

                    	
                      Party
      B’s resume, certificate or other labor relationship evidence is seriously
      untrue;

                    

            

          

        

      

      
        
          	
                  Article
      10

                	
                  Should
      any one of the following situations occurs, Party A shall have right to
      early terminate this Contract by giving written notice to Party B 30 days
      in advance or pay additional one month salary to Party
  B:

                

        

      

      
        
          	
                  10.1

                	
                  Party
      B suffers from an illness or non-job related injury and cannot perform
      his/her duties under this Contract or arranged by Party A otherwise after
      statutory period of medical
treatment;

                

        

      

      
        
          	
                  10.2

                	
                  Party
      B is incompetent to do the job under this Contract and is still
      incompetent to do it after training or a transfer of
    position;

                

        

      

      
        
          	
                  10.3

                	
                  A
      major change arises in the objective circumstances based on which this
      Contract was concluded, and cause such Contract impossible to be
      continued, and no agreement is reached on the amendment of such Contract
      following negotiations by
Parties.

                

        

      

      
        
          
            
              
                	
                        Article
      11

                      	
                        This
      Contract shall be terminated, if:  

                      

              

            

          

        

      

      
        	
                11.1

              	
                This
      Contract is expired and there’s no renewal of the Contract by both
      parties;

              

      

      
        
          	
                  11.2

                	
                  The
      termination conditions agreed by both Parties under this Contract arise,
      including without limitation, as operational personnel, Party B has not
      met the business requirements which has been confirmed by Party B for
      three (3) consecutive
months;

                

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        
          	
                  11.3

                	
                  Party
      B starts to enjoy basic endowment insurance according to
    law;

                

        

      

      
        
          	
                  11.4

                	
                  Party
      B is dead or declared dead or disappearing by People’s
    Court;

                

        

      

      
        
          	
                  11.5

                	
                  Party
      A is declared bankrupt according to
law;

                

        

      

      
        
          	
                  11.6

                	
                  Party
      A is revoked of the business license, ordered close, revocation or decides
      an early dissolution;

                

        

      

      
        	
                11.7

              	
                Other
      circumstances stipulated by applicable laws, administrative rules and
      regulations.

              

      

      
        
        

         

        
          	
                  Article
      12

                	
                  Matters
      relating to the termination of this
Contract

                

        

      

      
        
          	
                  12.1

                	
                  This
      Contract may be early terminated as agreed by both
  parties.

                

        

      

      
        
          	
                  12.2

                	
                  If
      Party B intends to resign his/her position, he/she shall notify Party A in
      writing thirty (30) days in advance and hand over the work to the
      personnel designated by Party A. Party B shall have the right to terminate
      this Contract by notifying Party A three days in prior during probation
      period.

                

        

      

      
        
          	
                  12.3

                	
                  Should
      any of the circumstances related to termination of this contract occur,
      Party A shall compensate Party B according to the specific circumstances
      and PRC laws and Party A’s internal administrative
  rules.

                

        

      

      

      
        	
                Article
      13

              	
                Remarkable
      Matters when Resignation

              

      

      
        
          	
                  13.1

                	
                  If
      Party B intends to resign his/her position, he/she shall notify Party A in
      writing one (1) month in
advance.

                

        

      

      
        
          	
                  13.2

                	
                  If
      Party A has provided to Party B on-job training and paid the relevant
      fees     and expenses (including tuition fees,
      material expenses, travelling expenses and living costs, etc.), and at the
      same time Party B is dismissed by Party A due to circumstances stipulated
      in Article 9 or Party B quits or resigns on his/her own, he/she shall pay
      liquidated damages to Party A. The amount of compensation shall be
      calculated in accordance with valid bills, invoices or other documents
      provided by Party A.

                

        

      

      
        
          	
                  13.3

                	
                  Before
      Party B’s dismissal or resignation or the termination of this Contract,
      Party B shall assist Party A to finish the necessary matters, such as
      takeover of job, return of materials, statement of working performance.
      Party B shall not disclose any of Party A’s confidential information.
      Party B shall also not engage in by him/herself, or be employed by any
      entity which engages in, any business competitive to that of Party A after
      his/her dismissal or resignation or the termination of this Contract.
      Parties shall enter into a separate Non-disclosure and Non-competition
      Contract to clarify the respective rights and
  obligations.

                

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        
          	
                  13.4

                	
                  Before
      signing the formal “Non-disclosure and Non-competition Contract”, Party B
      undertakes that without Party A’s written pemittion, he/she will not
      disclose or make use of any of Party A’s undeclared information, including
      without limitation, business correspondences, operation, personnel,
      technical information, business plan, personnel information, financial
      informations, know-hows, technics, procudures which was acquired by Party
      B from Party A or during Party B’s working period. The undeclared
      information includes the informtation which is specifically defined
      confidential by Party A or judged by Party B to be confidential
      (regardless that Party B acquires the information from third Party, Party
      B shall not disclose or make use of the above-mentioned information on
      which there’s evidence that it comes from Party A). Party B shall not
      directly or indirectly take part in commercial competition activities
      similar to the business activities which Party A engages or to engage in,
      including but not limited to being employed by a company which competes
      with Party A, engaging in competitive consulting or other business
      activities. Otherwise, Party A shall have the right to demand liquidated
      damages from Party B. In case the liquidated damages are insufficient to
      cover the loss, Party B shall fully compensate for the
    loss.

                

        

      

      
        
          	
                   

                	
                  Besides,
      if Party B disclose the confiential information acquired from Party A to
      third party, Party A shall have the right to disclose the fact to the
      third party and ask the third party to cooperate in seeking legal actions
      against Party B or undertake the joint responsibility with Party
      B.

                

        

      

      
        
          	
                   

                	
                  It
      shall be decided by Party A according to the position of Party A on
      whether Article 13.4 shall apply to Party B. If Party A informs Party B
      with a written notice that Party B shall observe the agreements stipulated
      in Article 13.4 before the dismissal of Party B or 30 days after Party B’s
      dismissal, Party B shall comply with this article and Party A shall pay
      the non-competing compensation fee on
time.

                

        

      

      
        
          	
                  13.5

                	
                  In
      any case, Party B shall return all Party A’s properties which was acquired
      by Party B during the term of this Contract and based on the status of an
      employee, including without limitation, business correspondences, business
      cards of clients, technical materials, financial records and other
      documents with originals, copies or duplicates after the termination of
      this Contract. Party A will pay the relevant salary, allowance or
      compensation and handle the relevant termination procedures when Party B
      finishes the above-mentioned matters. Otherwise, Party B shall bear all
      liability or damage caused by any
delay.

                

        

      

      

      
        	
                Article
      14

              	
                On-job
      Works

              

      

      
        
          	
                  14.1

                	
                  Both
      Parties agree that, during the working period, the titles to all the
      research, development, invention and design (hereinafter referred to as
      “On-job Works”), which are made or conceived by Party B through mainly
      using the materials and technical resources of Party A or for exercising
      the job responsibility, shall be owned by Party A. Party A shall be
      entitled to use or transfer Party B’s On-job Works freely without Party
      B’s permit. Party B shall provide all necessary information or assistance
      as requested by Party A during application, registration and filing
      procedures to assist Party A to acquire and enjoy the relevant
      intellectual properties.

                

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        
          	
                  14.2

                	
                  Party
      B shall be entitled to enjoy personal rights including authorship as
      inventor, creator, designer or developer regarding aforesaid On-job Work,
      except which can be enjoyed by Party A. Party A shall respect the personal
      right of Party B and assist him/her to enjoy such
  rights.

                

        

      

      
        
          	
                  14.3

                	
                  Party
      B shall declare immediately to Party A any intents that he/she claims any
      intellectual properties contained in the works which shall not be deemed
      as On-job Works during the working period. Party B may enjoy the relevant
      intellectual properties after Party A’s verification. Otherwise, Party B
      shall not use or transfer them to any third party without Party A’s prior
      approval.

                

        

      

      
        
          	
                  14.4

                	
                  If
      Party B develops certain works during the working period but does not
      declare to Party A, such works shall be deemed as the On-job Works. Party
      A shall be entitled to use or transfer such works to third party freely.
      If such works are proved not to be the On-job Works finally, Party B shall
      not claim any compensation against Party A. If Party A disagrees to Party
      B’s declaration, both Parties may resolve the dispute through negotiation
      or arbitration.

                

        

      

      
        
          	
                  14.5

                	
                  Upon
      the execution of this Contract, Party B shall disclose all patents,
      copyrights, know-how and/or other confidential information owned by
      him/her. Party B hereby represents and warrants that, during the working
      period, he/she would not use without permit any confidential information
      owned by other parties or do anything harmful to Party A or any
      intellectual properties owned by other
parties.

                

        

      

      

      
        	
                Article
      15

              	
                Liability
      for Breach of this Contract

              

      

      
        
          	
                  15.1

                	
                  In
      case that a Party breaches this Contract and causes the damage to the
      other Party, it shall compensate the other Party for losses and damages,
      and the compensation shall be calculated according to the actual losses
      and damages of such Party.

                

        

      

      
        
          	
                  15.2

                	
                  If
      this Contract is dismissed due to Party B’s breaking of PRC’s laws and
      regulations and results in causing damages to Party A, Party B shall be
      obliged to make indemnity to Party A based on the actual loss of Party
      A.

                

        

      

      
        
          	
                  15.3

                	
                  If
      Party B breaches Article 3.1 of this Contract, Parry B shall pay the
      liquidated damage to Party A once the breach is verified. In case the
      liquidated damages are insufficient to cover the loss, Party B shall fully
      compensate for the loss. If Party B commit a crime, Party A shall transfer
      the matter to the related judicial
authority

                

        

      

      
        
          	
                  15.4

                	
                  If
      Party B causes damages to Party A in performing his/her duty due to
      his/her negligence, guilt, deceit behaviors, Party B shall be responsible
      to compensate Party A.

                

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        
          	
                  15.5

                	
                  If
      Party B breaches the obligations of non-competition or confidential
      obligations under this Contract, he/she shall be charges 5 times over the
      compensation fee once confirmed by Party A. If the liquidated damages
      cannot recover the actual loss of Party A, Party B shall make
      compensations to Party B. If there are relevant stipulations under the
      Non-disclosure and Non-competition agreement, then the latter shall
      prevail.

                

        

      

      
        
          	
                  15.6

                	
                  If
      Party B has made or entered into any other contract or agreement with
      Party A, he/she shall also perform the
  obligations

                

        

      

      

      
        	
                Article
      16

              	
                Dispute
      Resolution

              

      

      
        
          	
                   

                	
                  The
      signing, implementation and explanation of this Contract shall be
      explained and governed by PRC
Law.

                

        

      

      
        
          	
                   

                	
                  During
      the implementation of this Contract and regarding the matters of
      dismissal, removal or expulsion of Party B, any party or both parties
      shall resort to the labor dispute resolution procedure as
      follows:

                

        

      

      
        
          	
                	
                  1.

                	
                  Resolving
      the dispute through reaching an
agreement;

                

        

      

      
        
          	
                	
                  2.

                	
                  Legal
      action at the court of jurisdiction over the area where the Lender is
      located when the agreement cannot be
reached.

                

        

      

      

      
        	
                Article
      17

              	
                Miscellaneous

              

      

      
        
          	
                  17.1

                	
                  This
      Contract is made in duplicate, each of which shall be held by Party A and
      Party B and of the same validity after execution by both
      Parties.

                

        

      

      
        
          	
                  17.2

                	
                  No
      modification or amendment of this Contract shall be effective or
      enforceable unless it is in writing and duly executed by both
      Parties.

                

        

      

      
        
          	
                  17.3

                	
                  Party
      B hereby represents and warranties that, he/she is able to execute and
      perform this Contract legally and the execution or performance of this
      Contract does and will not result in any breach of any contract, agreement
      and any other rule or document of any company or other business entity by
      which Party B is bound.

                

        

      

      

      [No Text
below]

      

      Party A:
ReneSola Ltd

      Authorized
representative: Li Xianshou

      Signature:
/s/Li Xianshou

      Title:
CEO

      

      Party B:
/s/Julia Jiyan XuUnassociated Document

    Exhibit
4.8

    ReneSola
Ltd

     

     

    Employment
Contract

     

     

    Jiashan·China

     

    2009

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Whereas:

    

    ReneSola
Ltd intends to recruit Wang Mingde as
employee. Party A and Part B, after friendly consultation and on the principle
of equality and mutual benefit, have concluded the following
contract.

    

    This
Contract is made and entered into on November 17th, 2008
by and between both Parties according to the relevant laws and regulations of
People’s Republic of China (hereafter referred to as “China” or “State”, but not
including Hong Kong, Macao and Taiwan) in Jiashan County, Jiaxing City, Zhejiang
Province, China.

     

    
      
        	
                Party
      A:

              	
                ReneSola
      Ltd (“Company”)

              
	
                Address:

              	
                Craigmuir
      Chambers P. O. Box 71, Road Town Tortola, British Virgin
      Islands

              
	
                CEO:

              	
                Li
      Xianshou

              
	 
      	 
      
	
                Part
      B:

              	
                Wang
      Mingde

              
	
                Nationality:

              	
                USA

              
	
                ID
      Card No:

              	
                028048881

              
	
                Education:

              	
                Doctor’s
      Degree

              
	
                Legal
      Address:

              	 
      

      

    

     

    
      	
              Article
      1

            	
              Term
      of the Contract

            

    

    The term
of this Contract is from  November 17th, 2008
 to 
November 16th, 2011  ,
including the probation period from          
 /                 to         
/                .
If any of the Parties doesn’t want to renew this Contract, he or she should
provide notice to other party in writing one (1) month in advance before the
expiration of this Contract.

    

    
      	
              Article
      2

            	
              Recruitment
      Conditions for Employment

            

    

    During
the probation period above, Party A will evaluate Party B’s performance in
accordance with the following standards. After completion of the probation
period, if Party B passes the evaluation, he/she will become formal employee of
Party A:

    

    
      	
              1.

            	
              Party
      B shall comply with all applicable laws and regulations and all Party A’s
      internal working rules, and maintain Party A’s best interests and
      reputation. Party B shall also try his/her to accept the working
      designation, protect Party A’s confidential information and protect Party
      A’s equipment and materials.

            

    

    
      	
              2.

            	
              Party
      B shall devote him/herself to work and have the professional knowledge,
      ability, business management and organization ability and enterprising and
      pragmatic spirit. He/she shall try his/her best to complete all the
      tasks.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              3.

            	
              Party
      B shall disclose necessary personal information to Party A truthfully,
      including without limitation, health condition, disease history, identity,
      education background and work experience. Party B shall have necessary
      physical and other condition for his/her
work.

            

    

    

    
      	
              Article
      3

            	
              Position
      and Location

            

    

    
      
        	
                3.1

              	
                Party
      B will be employed in the position of Manufacturing Vice President. During
      the term of this Contract, Party B shall not engage in any part-time job,
      directly or indirectly taking part in commercial competition activities
      similar to the business activities which Party A engages or to engage in,
      including but not limited to being employed by a company which competes
      with Party A, engaging in competitive consulting or other business
      activities, or providing technical information, technical parameters and
      trade secrets etc to a company which competes with Party
  A.

              

      

    

    
      
        	
                3.2

              	
                Party
      B is expected to work at Zhejiang Jiashan. After the signing of this
      Contract, Party A will dispatch Party B to work in Party A or subordinate
      companies of Party A by means of dispatching letter. As requested by Party
      A or according to the ability and performance of Party B, Party B agrees
      that Party A may from time to time, adjust the work position, contents,
      place, salary and/or other related matters of Party B under this
      Contract.

              

      

    

    
      
        	
                3.3

              	
                Party
      B’s working contents and responsibility, including without limitation, the
      authorization, contents, procedures and methods of work shall be according
      to Party A’s Duty Statement. Before receiving such Duty Statement, Party B
      shall comply with the requirements of Party A’s
    functionary.

              

      

    

    
      
        	
                3.4

              	
                Party
      B shall fulfill the assigned work and meet reasonable requirements on
      quality, quantity and time limit. Party A shall be entitled to assign
      Party B to tackle with one or more temporary jobs during working time.
      Party B shall accept and fulfill the assigned jobs to the best of his/her
      abilities or exceeding the expected commercial
  purpose.

              

      

    

    

    
      	
              Article
      4

            	
              Employee
      Protection and Work Condition

            

    

    
      	
              4.1

            	
              Party
      A shall provide suitable work condition and circumstance, and ensure that
      Party B’s personal safety and health will not suffer serious
      harm.

            

    

    
      	
              4.2

            	
              Party
      B shall be entitled to enjoy necessary employee protection articles
      and/or   health care allowance in accordance with the work
      condition. Party B shall comply with Party A’s internal rules regarding
      work safety.

            

    

    
      	
              4.3

            	
              The
      occupational illness and its consequences, occupational illness protective
      measures and remuneration involved in the manufacturing activities which
      Party A engages have been stipulated in Party A’s labor protection
      management and other internal documents. Party B shall read all the
      above-mentioned documents carefully and have the right to refer to the
      documents. After both parties sign this Contract, Party A shall be
      considered to have fulfilled the informing obligation regardless whether
      Party B has referred to the relevant
documents.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              4.4

            	
              If
      Party A’s occupational illness protective measures cannot meet the
      requirements of relevant laws and regulations, Party B shall report timely
      to relevant authority or Party A’s labor union. Party B shall wear or use
      the protective equipments or facilities provided by Party A as
      required.

            

    

    

    
      	
              Article
      5

            	
              Working
      Time and Vacation

            

    

    
      
        	
                5.1 

              	
                Party
      A shall comply with statutory working time requirements. Party A shall
      clarify the details by preparing internal rules in accordance with the
      actual condition. Regarding the managements, senior officials, drivers,
      dustmen or others who enjoy the variable working time, Party B may arrange
      their working time in accordance with the related laws and
      regulations.

              

      

    

    
      	
              5.2

            	
               Party B shall be
      entitled to enjoy the public holiday and other legal leaves with pay, such
      as wedding leave, maternity leave, funeral leave, sick leave, go-home
      leave and family-planning leave.

            

    

    
      	
              5.3

            	
              Paid leave shall be enjoyed by
      Party B in accordance with relevant laws, regulations and rules.
      Party B shall use such annual leave for at least one (1) day every
      time, and shall notify Party A one (1) month in prior if he/she intends to
      use such annual leave for at least five (5) consecutive days. Party A will
      arrange the annual leave according to work plan. The annual leave can not
      be reserved to the next year. The other regulations related to paid leave
      shall be in accordance with regulations made by Party
  A.

            

    

    

    
      	
              Article
      6

            	
              Overtime
      Work and Business Trip

            

    

    
      	
              6.1

            	
              Party
      A or Subordinate enterprises of Part A shall require Party B to do
      overtime work for reasonable requirements of work. Except urgent matters
      or physical discomfort, Party B shall do his/her best to comply with such
      arrangement.

            

    

    
      
        	
                6.2

              	
                Party
      A shall compensate Party B in the case that Party B is requested to do
      overtime work in the methods of overtime payment or additional rest in
      accordance with the applicable laws, regulations. However, the employees
      who apply variable working time shall not be entitled to enjoy such
      overtime payment or additional rest. The concrete methods shall be in
      accordance with the relevant laws and
  regulations.

              

      

    

    
      	
              6.3

            	
              Party
      A may be entitled to require Party B to conduct business trip to other
      place in the country and/or abroad at any time. Except urgent matters or
      physical discomfort, Party B shall do his/her best to comply with such
      arrangement.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Article
      7

            	
              Salary
      and Social Insurance

            

    

    
      
        	
                7.1

              	
                For
      Party B, Party A is using the salary system of: a) annual salary system:
      Party B’s salary, bonus and other welfares shall refer to “Zhejiang Yuhui
      Solar Energy Source Ltd Offer Letter” signed by both partiesParty
      B shall enjoy non-taxable benefits according to PRC laws and the
      “Reimbursement Policy on Non-taxable Benefits for foreigner employees” of
      Zhejiang Yuhui Solar Energy Source
Ltd.

              

      

    

    
      
        	
                7.2

              	
                Party
      A shall pay all the salary on the twenty-fifth day of every month. If
      Party A has to delay the payment of such salary for any reason, it shall
      notify Party B two (2) days in prior. The delay shall not be more than
      thirty (15) days in any case.

              

      

    

    
      
        	
                7.3

              	
                Party
      A shall pay other expenses which Party B shall bear for working in China
      according to applicable laws and regulations of PRC. Party A shall be
      entitled to withdraw, from Party B’s salary, the taxes (such as income tax
      and local tax) and other charges which Party B shall bear. Such charges
      shall include without limitation, all the charges contained in the
      judgment of court or the award of arbitration which shall be withdrawn
      from Party B’s salary by Party A; all the compensation which shall be paid
      by Party B to Party A in accordance with the provisions of this Contract
      or other legal decision; and all other fees or expenses which shall be
      withdrawn from Party B’s salary by Party A under the applicable laws and
      regulations of PRC.

              

      

    

    
      
        	
                7.4

              	
                Party
      A’s salary system is confidential. All the information relating to the
      salary, including without limitation the amounts, calculation, payment
      schedule and methods are also confidential, which Party B shall not
      disclose to any third party in any way without Party A’s prior written
      permit.

              

      

    

    
      
        	
                7.5

              	
                The
      salary payment method shall be as follows: Party A transfers the amount to
      the account opened in the name of Party B in the same bank as Party
      A.

              

      

    

    

    
      	
              Article
      8

            	
              Labor
      Disciplines

            

    

    
      	
              8.1

            	
              Party
      B shall comply with all applicable laws and
  regulations.

            

    

    
      
        	
                8.2

              	
                Party
      B shall read, fully understand and comply with the Employee Manual and
      other work rules, work procedures and confidentiality requirements of
      Party A.

              

      

    

    
      
        	
                8.3

              	
                Party
      B shall not use any facilities of Party A to do anything harmful to Party
      A, including without limitation, searching or spreading anything against
      relevant laws, regulations and Party A’s reputation. During the working
      time, Party B shall also not search, send, release, spread anything or do
      any other things not relating to work through computers, telephones or
      other facilities.

              

      

    

    
      
        	
                8.4

              	
                Party
      A shall have right to inspect, guide and examine the performance of Party
      B. If Party B disobeys the labor disciplines, Party A shall have right to
      impose punishment on Party B according to applicable laws and regulations
      or terminate this Contract
unilaterally.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    
      
        	
                8.5

              	
                In
      Party A’s previous cases, when an operational personnel accepts a bribe
      worth RMB1000, Party A will lose at least RMB10000. Therefore Party B
      shall guarantee that he/she and his/her relatives will not engage in any
      of the following activities: 1) Party A or his/her relative holds shares
      or part of share rights and interests in any enterprise which is handled
      by Party B and has business relationships with Party A and/or affiliated
      companies (“Affiliated Companies” refer to any enterprises or other
      entities which directly or indirectly control or are controlled by one
      party. “Control” means holding 50% or above of the registered capital
      and/or capital, and/or shares. Affiliated enterprises will be referred to
      hereafter as “Affiliated enterprises” with share rights or part of the
      share interests (including but without limitation to stock appreciation
      right). 2) Party B or any of his/her relatives works for affiliated
      enterprises; 3) Party B or any of his/her relatives engages in any
      commercial bribe or corruption, including without limitation, accepting
      any kind of undisclosed commission, gifts (including but not limited to
      cash, card, shares, expensive goods), feast or other benefits from any
      practical or potential customer, supplier, service provider, agent of
      Party A or other entity which has business relationship with Party A
      (unless obtaining Party A’s prior permit or reporting to Party A according
      to its internal rules). Party A shall have right to check any potential
      shadiness with Party B in this regard. Party B shall explain the matter in
      detail as requested by Party A and provide supporting evidence. At Party
      A’s sole discretion, Part may request Party B to obviate the potential
      problems (including pause or terminate the relevant business). If it is
      confirmed that Party B has engaged in any commercial bribe or corruption,
      it shall be deemed that Party B has materially breached the labor
      disciplines. Party A shall have right to terminate this Contract
      immediately and according to Party A’s working rules and claim for loss or
      damage at the ratio mentioned above against Party A and shall have right
      to record such matter in Party B’s personal files or disclose such
      information to any third
party.

              

      

    

    
      
        	
                8.6

              	
                Party
      B shall not engage in any business activity which violates any applicable
      law or regulation of the PRC, including without limitation, violating the
      administrative rules of customs and/or conduct fraud reporting in respect
      of transaction information, or violating financial or foreign exchange
      administrative rules. Should Party A bear any liability or loss or damage,
      Party B shall be liable to make full compensation and it shall be deemed
      that Party B has materially breached the labor disciplines. Party A shall
      have right to terminate this Contract immediately in accordance with this
      Contract and Party A’s working rules and regulations and claim for loss or
      damage against Party A and shall have right to record such matter in Party
      B’s personal files or disclose such information to any third
      party.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    
      
        	
                8.7

              	
                The
      purchase and sale price of Party A’s products shall be in accordance with
      the guiding price determined by Party A. As operational personnel, Party B
      shall seek best price during his/her daily work. Party A shall have right
      to deal with any negative activity of Party B in accordance with the
      internal administrative rules. Should Party B have caused damage to Party
      A for several times, it shall be deemed that Party B has materially
      breached the labor disciplines. Party A shall have right to terminate this
      Contract immediately and claim for loss or damage against Party A and
      shall have right to record such matter in Party B’s personal files or
      disclose such information to any third
party.

              

      

    

    
      
        	
                8.8

              	
                As
      a purchaser, Party B shall exert his/her ability to cut down the prices to
      seek the best price in equal condition with similar function when
      purchasing materials, equipments, spare parts or services. Party A shall
      have complete faith in Party B but shall also have the right to audit and
      inspect Party B’s work. If Party A manages to get a quotation at least 10%
      lower than the purchase price of the products/service (not limited to the
      products with same pattern or similar services) with the similar function
      in the equal condition from the third party in three months since the
      signing of the purchase contract by Party B, it shall be deemed that Party
      B has failed to performance the duty responsibly and neglected his/her
      duty. Should Party B have caused Party A to overpay (the amount referred
      to as “difference” hereafter, is the difference between the aggregate
      value of the price provided by the third party and the aggregate value of
      the quotation of the signatories) more than ten thousand yuan due to
      dereliction of duty several times, it shall be deemed that Party B has
      seriously neglected his/her duty. Party B shall pay the actual loss which
      Party A suffers (the difference which has already been paid to other
      parties by Party A). If it is discovered by relevant departments of Party
      A during the contract review period that the difference of a single
      contract exceeds twenty thousand yuan plus or the year-to-date difference
      amounts to fifty thousand yuan plus, it shall be deemed that Party B has
      seriously neglected his/her duty. Party B shall pay 20% of the difference
      to compensate the expenses paid by Party A during the review. The review,
      verification, examination and approval of the practice of Party B and
      relevant contracts, agreements and quotation, technical documents by the
      Financial Department, Internal Control Department, Legal Department and
      General Manager of Party A shall not be considered as the exemption of the
      responsibilities and obligations of Party B in seeking best price and
      shopping around or of the application of this
  Article.

              

      

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              Article
      9

            	
              Should
      any one of the following situations occurs, Party A shall have right to
      terminate this Contract:

            

    

    
      	
              9.1

            	
              Party
      B fails to satisfy the recruitment conditions during the probation
      period;

            

    

    
      	
              9.2

            	
              Party
      B seriously breaches Party A’s labor disciplines or internal
      administrative rules;

            

    

    
      	
              9.3

            	
              Party
      B is seriously negligent in the performance of his/her duties, of jobbery
      or corruption causing great damages to Party
A;

            

    

    
      	
              9.4

            	
              Party
      B is accused of criminal offence or sentenced to rehabilitate through
      labour

            

    

    
      
        	
                9.5

              	
                Party
      B establishes labor relations with other economic organizations and
      refuses to make corrections

              
	9.6 	Party B’s resume,
      certificate or other labor relationship evidence is seriously
      untrue; 

      

    

    
      
        
           

        

      

    

    
      	
              Article
      10

            	
              Should
      any one of the following situations occurs, Party A shall have right to
      early terminate this Contract by giving written notice to Party B 30 days
      in prior or pay additional one month salary to Party
  B:

            

    

    
      
        	
                10.1

              	
                Party
      B suffers from an illness or non-job related injury and cannot perform
      his/her duties under this Contract or arranged by Party A otherwise after
      statutory period of medical
treatment;

              

      

    

    
      
        	
                10.2

              	
                Party
      B is incompetent to do the job under this Contract and is still
      incompetent to do it after training or a transfer of
    position;

              

      

    

    
      
        	
                10.3

              	
                A
      major change arises in the objective circumstances based on which this
      Contract was concluded, and cause such Contract impossible to be
      continued, and no agreement is reached on the amendment of such Contract
      following negotiations by
Parties.

              

      

    

    
       

      
        	
                Article
      11

              	
                This
      Contract shall be terminated,
if:

              

      

    

    
      	
              11.1

            	
              This
      Contract is expired and there’s no renewal of the Contract by both
      parties;

            

    

    
      
        	
                11.2

              	
                The
      termination conditions agreed by both Parties under this Contract arise,
      including without limitation, as operational personnel, Party B has not
      met the business requirements which has been confirmed by Party B for
      three (3) consecutive months;

              

      

    

    
      
        	
                11.3

              	
                Party
      B starts to enjoy basic endowment insurance according to
    law;

              

      

    

    
      
        	
                11.4

              	
                Party
      B is dead or declared dead or disappearing by People’s
    Court;

              

      

    

    
      
        	
                11.5

              	
                Party
      A is declared bankrupt according to
law;

              

      

    

    
      
        	
                11.6

              	
                Party
      A is revoked of the business license, ordered close, revocation or decides
      an early dissolution;

              

      

    

    
      	
              11.7

            	
              Other
      circumstances stipulated by applicable laws, administrative rules and
      regulations.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Article
      12

            	
              Matters
      relating to the termination of this
Contract

            

    

    
      
        	
                12.1

              	
                This
      Contract may be early terminated as agreed by both
  parties.

              

      

    

    
      
        	
                12.2

              	
                If
      Party B intends to resign his/her position, he/she shall notify Party A in
      writing thirty (30) days in prior and hand over the work to the personnel
      designated by Party A. Party B shall have the right to terminate this
      Contract by notifying Party A three days in prior during probation
      period.

              

      

    

    
      
        	
                12.3

              	
                Should
      any of the circumstances related to termination of this contract occur,
      Party A shall compensate Party B according to the specific circumstances
      and PRC laws and Party A’s internal administrative
  rules.

              

      

    

    

    
      	
              Article
      13

            	
              Remarkable
      Matters when Resignation

            

    

    
      
        	
                13.1

              	
                If
      Party B intends to resign his/her position, he/she shall notify Party A in
      writing one (1) month in
prior.

              

      

    

    
      
        	
                13.2

              	
                If
      Party A has provided to Party B on-job training and paid the relevant
      fees     and expenses (including tuition fees,
      material expenses, travelling expenses and living costs, etc.), and at the
      same time Party B is dismissed by Party A due to circumstances stipulated
      in Article 9 or Party B quits or resigns on his/her own, he/she shall pay
      liquidated damages to Party A. The amount of compensation shall be
      calculated in accordance with valid bills, invoices or other documents
      provided by Party A.

              

      

    

    
      
        	
                13.3

              	
                Before
      Party B’s dismissal or resignation or the termination of this Contract,
      Party B shall assist Party A to finish the necessary matters, such as
      takeover of job, return of materials, statement of working performance.
      Party B shall not disclose any of Party A’s confidential information.
      Party B shall also not engage in by him/herself, or be employed by any
      entity which engages in, any business competitive to that of Party A after
      his/her dismissal or resignation or the termination of this Contract.
      Parties shall enter into a separate Non-disclosure and Non-competition
      Contract to clarify the respective rights and
  obligations.

              

      

    

    
      
        	
                13.4

              	
                Before
      signing the formal “Non-disclosure and Non-competition Contract”, Party B
      undertakes that without Party A’s written pemittion, he/she will not
      disclose or make use of any of Party A’s undeclared information, including
      without limitation, business correspondences, operation, personnel,
      technical information, business plan, personnel information, financial
      informations, know-hows, technics, procudures which was acquired by Party
      B from Party A or during Party B’s working period. The undeclared
      information includes the informtation which is specifically defined
      confidential by Party A or judged by Party B to be confidential
      (regardless that Party B acquires the information from third Party, Party
      B shall not disclose or make use of the above-mentioned information on
      which there’s evidence that it comes from Party A). Party B shall not
      directly or indirectly take part in commercial competition activities
      similar to the business activities which Party A engages or to engage in,
      including but not limited to being employed by a company which competes
      with Party A, engaging in competitive consulting or other business
      activities. Otherwise, Party A shall have the right to demand liquidated
      damages from Party B. In case the liquidated damages are insufficient to
      cover the loss, Party B shall fully compensate for the
    loss.

              

      

    

    
       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      As of the
consideration for Party B’s non-competition obligation during the period of two
years after his/her dismissal or resignation or the termination of this
Contract, Party B agrees to compensate Party A according to relevent
regulations. Both parties agree that the total amount of compensation equals to
Party B’s one year total amount of basic wages, in other words, monthly basic
wage multiplied by 12 months and be equally granted by Party A since the date of
the termination or dissolution of this Contract. The compensation shall be
transferred to Party B’s salary account on Party A’s wage payment day with the
granting term of 24 months. In case Party B changes the account, he/she should
give Party A a written notice timely. If the compensation payment is rejected
due to Party B’s failure in informing Party A in time, Party A shall have the
right to deposit the compensation amount and be deemed to have paid the
compensation on time. However, Party B shall continue to fulfill the
non-competition obligation. The total amount of the compensation shall be all of
the compensation Party B enjoys for bearing the non-competition obligation under
this Contract. Party A needs not to do any other extra compensation. Regardless
of the above, Party A shall have the right to unilaterally terminate the
non-competition obligation agreement. The termination shall be valid only with
Party A’s written notice to Party B.

      
        Party B
shall faithfully reports to Party A of the recent whereabouts, residential
address, working condition and contact information before the 5th day of
each quarter so that Party A shall be able to inspect Party B’s fulfillment
condition of the non-competition obligation. If Party B fails to report timely,
it shall be deemed that he/she has violated the non-competition obligation.
Party A shall have the right to stop the granting of the compensation and ask
Party A to shoulder relevant legal responsibilities.

        Besides,
if Party B disclose the confiential information acquired from Party A to third
party, Party A shall have the right to disclose the fact to the third party and
ask the third party to cooperate in seeking legal actions against Party B or
undertake the joint responsibility with Party B.

        
          It shall
be decided by Party A according to the position of Party A on whether Article
13.4 shall apply to Party B. If Party A informs Party B with a written notice
that Party B shall observe the agreements stipulated in Article 13.4 before the
dismissal of Party B or 30 days after Party B’s dismissal, Party B shall comply
with this article and Party A shall pay the compensation on time.

           

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

           

        

      

    

    
      
      

    

    
      
      

    

    
      
      

    

    
      
        	
                13.5

              	
                In
      any case, Party B shall return all Party A’s properties which was acquired
      by Party B during the term of this Contract and based on the status of an
      employee, including without limitation, business correspondences, business
      cards of clients, technical materials, financial records and other
      documents with originals, copies or duplicates after the termination of
      this Contract. Party A will pay the relevant salary, allowance or
      compensation and handle the relevant termination procedures when Party B
      finishes the above-mentioned matters. Otherwise, Party B shall bear all
      liability or damage caused by any
delay.

              

      

    

    

    
      	
              Article
      14

            	
              On-job
      Works

            

    

    
      
        	
                14.1

              	
                Both
      Parties agree that, during the working period, the titles to all the
      research, development, invention and design (hereinafter referred to as
      “On-job Works”), which are acquired or conceived by mainly using the
      materials and technical resources of Party A or for Party B’s own jobs,
      shall be owned by Party A. Party A shall be entitled to use or transfer
      Party B’s On-job Works freely without Party B’s permit. Party B shall
      provide all necessary information or assistance as requested by Party A
      during application, registration and filing procedures to assist Party A
      to acquire and enjoy the relevant intellectual
  properties.

              

      

    

    
      
        	
                14.2

              	
                Party
      B shall be entitled to enjoyed immaterial rights including authorship as
      inventor, creator, designer or developer regarding aforesaid On-job Work,
      except which can be enjoyed by Party A. Party A shall respect Party B and
      assist him/her to enjoy such
rights.

              

      

    

    
      
        	
                14.3

              	
                Party
      B shall declare immediately to Party A any intents that he/she claims any
      intellectual properties contained in the works which shall not be deemed
      as On-job Works during the working period. Party B may enjoy the relevant
      intellectual properties after Party A’s verification. Otherwise, Party B
      shall not use or transfer them to any third party without Party A’s prior
      approval.

              

      

    

    
      
        	
                14.4

              	
                If
      Party B develops certain works during the working period but does not
      declare to Party A, such works shall be deemed as the On-job Works. Party
      A shall be entitled to use or transfer such works to third party freely.
      If such works are proved not to be the On-job Works finally, Party B shall
      not claim any compensation against Party A. If Party A disagrees to Party
      B’s declaration, both Parties may resolve the dispute through negotiation
      or arbitration.

              

      

    

    
      
        	
                14.5

              	
                Upon
      the execution of this Contract, Party B shall disclose all patents,
      copyrights, know-how and/or other confidential information owned by
      him/her. Party B hereby represents and warrants that, during the working
      period, he/she would not use without permit any confidential information
      owned by other parties or do anything harmful to Party A or any
      intellectual properties owned by other
parties.

              

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Article
      15

            	
              Liability
      for Breach of this Contract

            

    

    
      
        	
                15.1

              	
                In
      case that a Party breaches this Contract and causes the damage to the
      other Party, it shall compensate the other Party for losses and damages,
      and the compensation shall be calculated according to the actual losses
      and damages of such Party.

              

      

    

    
      
        	
                15.2

              	
                If
      this Contract is dismissed due to Party B’s breaking of PRC’s laws and
      regulations and results in causing damages to Party A, Party B shall be
      obliged to make indemnity to Party A based on the actual loss of Party
      A.

              

      

    

    
      
        	
                15.3

              	
                If
      Party B’s breach of this Contract cause further loss or damage of Party A,
      Party A shall be entitled to claim further compensation against Party B in
      accordance with the actual results or
  responsibilities.

              

      

    

    
      
        	
                15.4

              	
                If
      Party B causes damages to Party A in performing his/her duty due to
      his/her negligence, guilt, deceit behaviors, Party B shall be responsible
      to compensate Party A.

              

      

    

    
      
        	
                15.5

              	
                If
      Party B breaches the obligations of non-competition or confidential
      obligations under this Contract, he/she shall be charges 5 times of the
      compensation once confirmed by Party A. If the liquidated damages cannot
      recover the actual loss of Party A, Party B shall make compensations to
      Party B. If there are relevant stipulations under the Non-disclosure and
      Non-competition agreement, then the latter shall
  prevail.

              

      

    

    
      
        	
                15.6

              	
                If
      Party B has made or entered into any other contract or agreement with
      Party A, he/she shall also perform the
  obligations.

              

      

    

    

    
      	
              Article
      16

            	
              Labor
      Dispute Resolution

            

    

    
      A Party
or Both Parties may bring a lawsuit before the competent court located in the
place where the Contract is signed regarding the matters of dismissal, removal,
expulsion of Party B.

    

    

    
      	
              Article
      17

            	
              Miscellaneous

            

    

    
      
        	
                17.1

              	
                This
      Contract is made in duplicate, each of which shall be held by Party A and
      Party B, respectively,  and of the same validity after execution
      by both Parties.

              

      

    

    
      
        	
                17.2

              	
                No
      modification or amendment of this Contract shall be effective or
      enforceable unless it is in writing and duly executed by both
      Parties.

              

      

    

    
      
        	
                17.3

              	
                Party
      B hereby represents and warranties that, he/she may execute and perform
      this Contract legally and the execution or performance of this Contract
      does and will not result in any breach of any contract, agreement and any
      other rule or document of any company or other business entity by which
      Party B is bound.

              

      

    

    
      
        	
                17.4

              	
                If
      any provision under this Contract is in discrepancy with applicable laws
      or regulations, the applicable laws and regulations shall prevail. Any
      other matters not provided in this Contract shall be dealt with according
      to applicable laws, regulations, decrees or any other additional contracts
      agreed by both Parties hereunder.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    
      
        	
                17.5

              	
                The
      application, implementation and explanation of this Contract shall be
      governed by PRC Law. Both parties agree: 1) The law of any other country,
      district or jurisdiction shall not have jurisdiction over this Contract;
      2) neither party is entitled to bring a lawsuit or arbitration against the
      other party according to the law or in any other country, district or
      jurisdiction.

              

      

    

    

    [No Text
Below]

    

    [Signature
Page]

    Party A:
ReneSola Ltd

    Authorized
representative: Li Xianshou

    Signature:
/s/ Li Xianshou

    Title:
CEO

    

    Party B:
/s/Mingde Wang

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