Document:

exv10w2

Exhibit 10.2

[Execution Copy]

REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of June 12,
2009, by and between HANMI FINANCIAL CORPORATION., a Delaware corporation (the “Company”), and
LEADING INVESTMENT & SECURITIES CO., LTD., a Korean corporation (the “Purchaser”).

RECITALS

     WHEREAS, this Agreement is made pursuant to that certain Securities Purchase Agreement, dated
as of June 12, 2009 between the Company and the Purchaser (the “Purchase Agreement”); and

     WHEREAS, in connection with the consummation of the transaction contemplated by the Purchase
Agreement, the parties hereto desire to enter into this Agreement in order to provide for the grant
of certain registration rights to the Purchaser as set forth below.

     NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for
other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
the Company and the Purchaser agree as follows:

     1. Definitions. Capitalized terms used and not otherwise defined herein that are
defined in the Purchase Agreement shall have the meanings given such terms in the Purchase
Agreement. As used in this Agreement, the following terms shall have the following meanings:

     “Advice” shall have the meaning set forth in Section 6(c).

     “Affiliate” has the meaning set forth in the Purchase Agreement.

     “Agreement” shall have the meaning set forth in the Preamble.

     “Business Day” has the meaning set forth in the Purchase Agreement.

     “Commission” means the Securities and Exchange Commission.

     “Common Stock” has the meaning set forth in the Purchase Agreement.

     “Company” shall have the meaning set forth in the Preamble.

     “Demand Notice” shall have the meaning set forth in Section 2(a).

     “Effective Date” means the date that the Registration Statement filed pursuant to Section 2(a)
is first declared effective by the Commission.

     “Effectiveness Deadline” means, with respect to the Initial Registration Statement or the New
Registration Statement, the earlier of (i) the 30th calendar day following the Filing
Deadline and (ii) the 5th Trading Day after the date the Company is notified (orally or
in writing, whichever is earlier) by the Commission that such Registration Statement will not be
“reviewed” or will not be subject to further review; provided, that if the Effectiveness Deadline
falls on a

 

 

Saturday, Sunday or other day that the Commission is closed for business, the Effectiveness
Deadline shall be extended to the next Business Day on which the Commission is open for business.

     “Effectiveness Period” shall have the meaning set forth in Section 2(b).

     “Event” shall have the meaning set forth in Section 2(c).

     “Event Date” shall have the meaning set forth in Section 2(c).

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder.

     “Filing Deadline” means, with respect to the Initial Registration Statement required to be
filed pursuant to Section 2(a), means (1) the 45th calendar day following the receipt of
the Demand Notice by the Company in the case of any registration eligible to made on Form S-3 or
comparable form or (2) the 60th calendar day following the receipt of the Demand Notice
by the Company in the case of any registration made on Form S-1 or comparable form, provided,
however, that if the Filing Deadline falls on a Saturday, Sunday or other day that the Commission
is closed for business, the Filing Deadline shall be extended to the next business day on which the
Commission is open for business.

     “Holder” or “Holders” means the holder or holders, as the case may be, from time to time of
Registrable Securities.

     “Indemnified Party” shall have the meaning set forth in Section 5(c).

     “Indemnifying Party” shall have the meaning set forth in Section 5(c).

     “Initial Acquisition Closing Date” has the meaning set forth in the Purchase Agreement.

     “Initial Registration Statement” means the initial Registration Statement filed pursuant to
Section 2(a) of this Agreement.

     “Liquidated Damages” shall have the meaning set forth in Section 2(c).

     “Losses” shall have the meaning set forth in Section 5(a).

     “New Registration Statement” shall have the meaning set forth in Section 2(a).

     “Person” has the meaning set forth in the Purchase Agreement.

     “Principal Trading Market” has the meaning set forth in the Purchase Agreement.

     “Proceeding” has the meaning set forth in the Purchase Agreement.

     “Prospectus” means the prospectus included in a Registration Statement (including, without
limitation, a prospectus that includes any information previously omitted from a prospectus filed
as part of an effective registration statement in reliance upon Rule 430A

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promulgated under the Securities Act), as amended or supplemented by any prospectus
supplement, with respect to the terms of the offering of any portion of the Registrable Securities
covered by a Registration Statement, and all other amendments and supplements to the Prospectus,
including post-effective amendments, and all material incorporated by reference or deemed to be
incorporated by reference in such Prospectus.

     “Purchase Agreement” shall have the meaning set forth in the Recitals.

     “Purchaser” shall have the meaning set forth in the Preamble.

     “Registrable Securities” means all of the Shares and any securities issued or issuable upon
any stock split, dividend or other distribution, recapitalization or similar event with respect to
the Shares, provided, that Shares shall cease to be Registrable Securities upon the earliest to
occur of the following: (A) a sale pursuant to a Registration Statement or Rule 144 under the
Securities Act (in which case, only such security sold shall cease to be a Registrable Security);
or (B) becoming eligible for sale without the requirement for the Company to be in compliance with
the current public information required under Rule 144 and without volume or manner of sale
restrictions by Holders who are not Affiliates of the Company.

     “Registration Statements” means any one or more registration statements of the Company filed
under the Securities Act that covers the resale of any of the Registrable Securities pursuant to
the provisions of this Agreement (including without limitation the Initial Registration Statement,
the New Registration Statement and any Remainder Registration Statements), amendments and
supplements to such Registration Statements, including post-effective amendments, all exhibits and
all material incorporated by reference or deemed to be incorporated by reference in such
Registration Statements.

     “Remainder Registration Statement” shall have the meaning set forth in Section 2(a).

     “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as
such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by
the Commission having substantially the same effect as such Rule.

     “Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as
such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by
the Commission having substantially the same effect as such Rule.

     “Rule 424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as
such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by
the Commission having substantially the same effect as such Rule.

     “SEC Guidance” means (i) any publicly-available written or oral guidance, comments,
requirements or requests of the Commission staff and (ii) the Securities Act.

     “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder.

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     “Shares” means the shares of Common Stock issued or issuable to the Purchaser pursuant to the
Purchase Agreement.

     “Trading Day” has the meaning set forth in the Purchase Agreement.

     “Trading Market” has the meaning set forth in the Purchase Agreement.

     2. Shelf Registration.

          (a) At any time commencing on or after the Initial Acquisition Closing Date, upon the written
request from the Holders, which request may be made on up to two separate occasions in any given
year (the “Demand Notice”), the Company shall prepare and file with the Commission a Registration
Statement covering the resale of all of the Registrable Securities not already covered by an
existing and effective Registration Statement for an offering to be made on a continuous basis
pursuant to Rule 415 or, if Rule 415 is not available for offers and sales of the Registrable
Securities, by such other means of distribution of Registrable Securities as the Company may
reasonably determine (the “Initial Registration Statement”). The Initial Registration Statement
shall be on Form S-3 (except if the Company is then ineligible to register for resale of the
Registrable Securities on Form S-3, in which case such registration shall be on such other form
available to register for resale of the Registrable Securities as a secondary offering) subject to
the provisions of Section 2(e). Notwithstanding the registration obligations set forth in this
Section 2, in the event the Commission informs the Company that all of the Registrable Securities
cannot, as a result of the application of Rule 415, be registered for resale as a secondary
offering on a single registration statement, the Company agrees to promptly (i) inform each of the
Holders thereof and use its commercially reasonable efforts to file amendments to the Initial
Registration Statement as required by the Commission and/or (ii) withdraw the Initial Registration
Statement and file a new registration statement (a “New Registration Statement”), in either case
covering the maximum number of Registrable Securities permitted to be registered by the Commission,
on Form S-3 or such other form available to register for resale the Registrable Securities as a
secondary offering; provided, however, that prior to filing such amendment or New Registration
Statement, the Company shall be obligated to use its commercially reasonable efforts to advocate
with the Commission for the registration of all of the Registrable Securities in accordance with
the SEC Guidance, including without limitation, the Manual of Publicly Available Telephone
Interpretations D.29. Notwithstanding any other provision of this Agreement and subject to the
payment of Liquidated Damages in Section 2(c), if any SEC Guidance sets forth a limitation of the
number of Registrable Securities or other shares of Common Stock permitted to be registered on a
particular Registration Statement as a secondary offering (and notwithstanding that the Company
used diligent efforts to advocate with the Commission for the registration of all or a greater
number of Registrable Securities), the number of Registrable Securities or other shares of Common
Stock to be registered on such Registration Statement will be reduced as follows: first, the
Company shall reduce or eliminate the shares of Common Stock to be included by any Person other
than a Holder; second, the Company shall reduce or eliminate any shares of Common Stock to be
included by any Affiliate of the Company; and third, the Company shall reduce the number of
Registrable Securities to be included by all other Holders on a pro rata basis based on the total
number of unregistered Shares held by such Holders, subject to a determination by the Commission
that certain Holders must be reduced before other Holders based on the number of

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Shares held by such Holders. In the event the Company amends the Initial Registration
Statement or files a New Registration Statement, as the case may be, under clauses (i) or (ii)
above, the Company will use its commercially reasonable efforts to file with the Commission, as
promptly as allowed by Commission or SEC Guidance provided to the Company or to registrants of
securities in general, one or more registration statements on Form S-3 or such other form available
to register for resale those Registrable Securities that were not registered for resale on the
Initial Registration Statement, as amended, or the New Registration Statement (the “Remainder
Registration Statements”).

          (b) The Company shall use its commercially reasonable efforts to cause each Registration
Statement to be declared effective by the Commission as soon as practicable and, with respect to
the Initial Registration Statement or the New Registration Statement, as applicable, no later than
the Effectiveness Deadline, and shall use its commercially reasonable efforts to keep each
Registration Statement continuously effective under the Securities Act until the earlier of (i)
such time as all of the Registrable Securities covered by such Registration Statement have been
publicly sold by the Holders or (ii) the date that all Registrable Securities covered by such
Registration Statement may be sold by non-affiliates without volume or manner of sale restrictions
under Rule 144, without the requirement for the Company to be in compliance with the current public
information requirements under Rule 144, as determined by counsel to the Company pursuant to a
written opinion letter to such effect, addressed and reasonably acceptable to the Company’s
transfer agent and the effected Holders (the “Effectiveness Period”). The Company shall request
effectiveness of a Registration Statement as of 5:00 p.m. New York City time on a Trading Day. The
Company shall promptly notify the Holders via facsimile or electronic mail of a “.pdf” format data
file of the effectiveness of a Registration Statement within one (1) Business Day of the Effective
Date. The Company shall, by 9:30 a.m. New York City time on the first Trading Day after the
Effective Date, file a final Prospectus with the Commission, as required by Rule 424(b).

          (c) If: (i) the Initial Registration Statement is not filed with the Commission on or prior
to the Filing Deadline, (ii) the Initial Registration Statement or the New Registration Statement,
as applicable, is not declared effective by the Commission (or otherwise does not become effective)
for any reason on or prior to the Effectiveness Deadline or (iii) after its Effective Date, (A)
such Registration Statement ceases for any reason (including without limitation by reason of a stop
order, or the Company’s failure to update the Registration Statement), to remain continuously
effective as to all Registrable Securities for which it is required to be effective or (B) the
Holders are not permitted to utilize the Prospectus therein to resell such Registrable Securities,
in the case of (A) and (B) (other than during an Allowable Grace Period (as defined in Section 2(d)
of this Agreement)), (iv) a Grace Period (as defined in Section 2(d) of this Agreement) exceeds the
length of an Allowable Grace Period, or (v) after the Initial Acquisition Closing Date, the
Company fails to file with the SEC any required reports under Section 13 or 15(d) of the 1934 Act
such that it is not in compliance with Rule 144(c)(1) as a result of which the Holders who are not
affiliates are unable to sell Registrable Securities without restriction under Rule 144 (or any
successor thereto) (any such failure or breach in clauses (i) through (v) above being referred to
as an “Event,” and, for purposes of clauses (i), (ii), (iii) or (v), the date on which such Event
occurs, or for purposes of clause (iv) the date on which such Allowable Grace Period is exceeded,
being referred to as an “Event Date”), then in addition to any other rights the Holders may have
hereunder or under applicable law, on each such Event

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Date and on each monthly anniversary of each such Event Date (if the applicable Event shall
not have been cured by such date) until the applicable Event is cured, the Company shall pay to
each Holder an amount in cash, as liquidated damages and not as a penalty (“Liquidated Damages”),
equal to 1.0% of the aggregate purchase price paid by such Holder pursuant to the Purchase
Agreement for any Registrable Securities held by such Holder on the Event Date. The parties agree
that (1) notwithstanding anything to the contrary herein or in the Purchase Agreement, no
Liquidated Damages shall be payable with respect to any period after the expiration of the
Effectiveness Period (it being understood that this sentence shall not relieve the Company of any
Liquidated Damages accruing prior to the Effectiveness Period), and in no event shall, the
aggregate amount of Liquidated Damages payable to a Holder exceed, in the aggregate, twelve percent
(12%) of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement and
(2) in no event shall the Company be liable in any 30-day period for Liquidated Damages under this
Agreement in excess of 1.0% of the aggregate purchase price paid by the Holders pursuant to the
Purchase Agreement. If the Company fails to pay any Liquidated Damages pursuant to this Section
2(c) in full within five (5) Business Days after the date payable, the Company will pay interest
thereon at a rate of 1.0% per month (or such lesser maximum amount that is permitted to be paid by
applicable law) to the Holder, accruing daily from the date such Liquidated Damages are due until
such amounts, plus all such interest thereon, are paid in full. The Liquidated Damages pursuant to
the terms hereof shall apply on a daily pro-rata basis for any portion of a month prior to the cure
of an Event, except in the case of the first Event Date. The Effectiveness Deadline for a
Registration Statement shall be extended without default or Liquidated Damages hereunder in the
event that the Company’s failure to obtain the effectiveness of the Registration Statement on a
timely basis results from the failure of the Purchaser to timely provide the Company with
information requested by the Company and necessary to complete the Registration Statement in
accordance with the requirements of the Securities Act (in which case the Effectiveness Deadline
would be extended with respect to Registrable Securities held by the Purchaser).

          (d) Notwithstanding anything to the contrary herein, at any time after the Registration
Statement has been declared effective by the Commission, the Company may delay the disclosure of
material non-public information concerning the Company if the disclosure of such information at the
time is not, in the good faith judgment of the Company, in the best interests of the Company (a
“Grace Period”); provided, however, the Company shall promptly (i) notify the Holders in writing of
the existence of material non-public information giving rise to a Grace Period (provided that the
Company shall not disclose the content of such material non-public information to the Holders) or
the need to file a post-effective amendment, as applicable, and the date on which such Grace Period
will begin, (ii) use reasonable best efforts to terminate a Grace Period as promptly as practicable
and (iii) notify the Holders in writing of the date on which the Grace Period ends; provided,
further, that no single Grace Period shall exceed forty-five (45) consecutive days, and during any
three hundred sixty-five (365) day period, the aggregate of all Grace Periods shall not exceed an
aggregate of one hundred and twenty (120) days (each Grace Period complying with this provision
being an “Allowable Grace Period”). For purposes of determining the length of a Grace Period, the
Grace Period shall be deemed to begin on and include the date the Holders receive the notice
referred to in clause (i) above and shall end on and include the later of the date the Holders
receive the notice referred to in clause (iii) above and the date referred to in such notice;
provided, however, that no Grace Period shall be longer than an Allowable Grace Period.
Notwithstanding anything to the contrary, the

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Company shall cause the Transfer Agent to deliver unlegended Common Stock to a transferee of a
Holder in accordance with the terms of the Purchase Agreement in connection with any sale of
Registrable Securities with respect to which a Holder has entered into a contract for sale prior to
the Holder’s receipt of the notice of a Grace Period and for which the Holder has not yet settled.

          (e) In the event that Form S-3 is not available for the registration of the resale of
Registrable Securities hereunder, the Company shall (i) register the resale of the Registrable
Securities on another appropriate form and (ii) undertake to register the Registrable Securities on
Form S-3 promptly after such form is available, provided that the Company shall maintain the
effectiveness of the Registration Statement then in effect until such time as a Registration
Statement on Form S-3 covering the Registrable Securities has been declared effective by the
Commission.

     3. Registration Procedures

     In connection with the Company’s registration obligations hereunder:

          (a) the Company shall not less than three (3) Trading Days prior to the filing of a
Registration Statement and not less than one (1) Trading Day prior to the filing of any related
Prospectus or any amendment or supplement thereto (except for Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and any similar or successor
reports), the Company shall, furnish to the Holder copies of such Registration Statement,
Prospectus or amendment or supplement thereto, as proposed to be filed, which documents will be
subject to the review of such Holder (it being acknowledged and agreed that if a Holder does not
object to or comment on the aforementioned documents within such three (3) Trading Day or one (1)
Trading Day period, as the case may be, then the Holder shall be deemed to have consented to and
approved the use of such documents). The Company shall not file any Registration Statement or
amendment or supplement thereto in a form to which a Holder reasonably objects in good faith,
provided that, the Company is notified of such objection in writing within the three (3) Trading
Day or one (1) Trading Day period described above, as applicable.

          (b) (i) the Company shall prepare and file with the Commission such amendments (including
post-effective amendments) and supplements, to each Registration Statement and the Prospectus used
in connection therewith as may be necessary to keep such Registration Statement continuously
effective as to the applicable Registrable Securities for its Effectiveness Period (except during
an Allowable Grace Period); (ii) the Company shall cause the related Prospectus to be amended or
supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and,
as so supplemented or amended, to be filed pursuant to Rule 424 (except during an Allowable Grace
Period); (iii) the Company shall respond as promptly as reasonably practicable to any comments
received from the Commission with respect to each Registration Statement or any amendment thereto
and, as promptly as reasonably possible, provide the Holders true and complete copies of all
correspondence from and to the Commission relating to such Registration Statement that pertains to
the Holders as “Selling Stockholders” but not any comments that would result in the disclosure to
the Holders of material and non-public information concerning the Company; and (iv) the Company
shall comply with the provisions of the Securities Act and the Exchange Act with respect to the

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disposition of all Registrable Securities covered by a Registration Statement until such time
as all of such Registrable Securities shall have been disposed of (subject to the terms of this
Agreement) in accordance with the intended methods of disposition by the Holders thereof as set
forth in such Registration Statement as so amended or in such Prospectus as so supplemented;
provided, however, that the Purchaser shall be responsible for the delivery of the Prospectus to
the Persons to whom the Purchaser sells any of the Shares (including in accordance with Rule 172
under the Securities Act), and the Purchaser agrees to dispose of Registrable Securities in
compliance with the plan of distribution described in the Registration Statement and otherwise in
compliance with applicable federal and state securities laws. In the case of amendments and
supplements to a Registration Statement which are required to be filed pursuant to this Agreement
(including pursuant to this Section 3(b)) by reason of the Company filing a report on Form 10-K,
Form 10-Q or Form 8-K or any analogous report under the Exchange Act, the Company shall have
incorporated such report by reference into such Registration Statement, if applicable, or shall
file such amendments or supplements with the Commission on the same day on which the Exchange Act
report which created the requirement for the Company to amend or supplement such Registration
Statement was filed.

          (c) the Company shall notify the Holders (which notice shall, pursuant to clauses (iii)
through (v) hereof, be accompanied by an instruction to suspend the use of the Prospectus until the
requisite changes have been made) as promptly as reasonably practicable (and, in the case of (i)(A)
below, not less than two Trading Days prior to such filing, in the case of (iii) and (iv) below,
not more than one Trading Day after such issuance or receipt, and in the case of (v) below, not
more than one Trading Day after the occurrence or existence of such development) and (if requested
by any such Person) confirm such notice in writing no later than one Trading Day following the day
(i)(A) when a Prospectus or any Prospectus supplement or post-effective amendment to a Registration
Statement is proposed to be filed; (B) when the Commission notifies the Company whether there will
be a “review” of such Registration Statement and whenever the Commission comments in writing on any
Registration Statement (in which case the Company shall provide to each of the Holders true and
complete copies of all comments that pertain to the Holders as a “Selling Stockholder” or to the
“Plan of Distribution” and all written responses thereto, but not information that the Company
believes would constitute material and non-public information); and (C) with respect to each
Registration Statement or any post-effective amendment, when the same has become effective; (ii) of
any request by the Commission or any other Federal or state governmental authority for amendments
or supplements to a Registration Statement or Prospectus or for additional information that
pertains to the Holders as “Selling Stockholders” or the “Plan of Distribution”; (iii) of the
issuance by the Commission or any other federal or state governmental authority of any stop order
suspending the effectiveness of a Registration Statement covering any or all of the Registrable
Securities or the initiation of any Proceedings for that purpose; (iv) of the receipt by the
Company of any notification with respect to the suspension of the qualification or exemption from
qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation
or threatening of any Proceeding for such purpose; and (v) of the occurrence of any event or
passage of time that makes the financial statements included in a Registration Statement ineligible
for inclusion therein or any statement made in such Registration Statement or Prospectus or any
document incorporated or deemed to be incorporated therein by reference untrue in any material
respect or that requires any revisions to such Registration Statement, Prospectus or other
documents so that, in the case of such Registration Statement or the Prospectus, as the case may
be, it will not

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contain any untrue statement of a material fact or omit to state any material fact required to
be stated therein or necessary to make the statements therein (in the case of any Prospectus, form
of prospectus or supplement thereto, in light of the circumstances under which they were made), not
misleading.

          (d) the Company shall use commercially reasonable efforts to avoid the issuance of, or, if
issued, obtain the withdrawal of (i) any order suspending the effectiveness of a Registration
Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of
the Registrable Securities for sale in any jurisdiction, as soon as practicable.

          (e) the Company shall, if requested by a Holder, furnish to such Holder, without charge, at
least one conformed copy of each Registration Statement and each amendment thereto and all exhibits
to the extent requested by such Person (including those previously furnished or incorporated by
reference) promptly after the filing of such documents with the Commission; provided, that the
Company shall have no obligation to provide any document pursuant to this clause that is available
on the Commission’s EDGAR system.

          (f) the Company shall, prior to any resale of Registrable Securities by a Holder, use its
commercially reasonable efforts to register or qualify or cooperate with the selling Holders in
connection with the registration or qualification (or exemption from the registration or
qualification) of such Registrable Securities for the resale by the Holder under the securities or
Blue Sky laws of such jurisdictions within the United States as any Holder reasonably requests in
writing, to keep each registration or qualification (or exemption therefrom) effective during the
Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the
disposition in such jurisdictions of the Registrable Securities covered by each Registration
Statement; provided, that the Company shall not be required to qualify generally to do business in
any jurisdiction where it is not then so qualified, subject the Company to any material tax in any
such jurisdiction where it is not then so subject or file a general consent to service of process
in any such jurisdiction.

          (g) the Company shall, cooperate with the Holders to facilitate the timely preparation and
delivery of certificates representing Registrable Securities to be delivered to a transferee
pursuant to the Registration Statement, which certificates shall be free, to the extent permitted
by the Purchase Agreement and under law, of all restrictive legends, and to enable such Registrable
Securities to be in such denominations and registered in such names as any such Holders may
reasonably request. Certificates for Shares free from all restrictive legends may be transmitted
by the transfer agent to a Holder by crediting the account of such Holder’s prime broker with DTC
as directed by such Holder.

          (h) the Company shall following the occurrence of any event contemplated by Section
3(c)(iii)-(v), as promptly as reasonably practicable (taking into account the Company’s good faith
assessment of any adverse consequences to the Company and its stockholders of the premature
disclosure of such event), prepare and file a supplement or amendment, including a post-effective
amendment, to the affected Registration Statements or a supplement to the related Prospectus or any
document incorporated or deemed to be incorporated therein by reference, and file any other
required document so that, as thereafter delivered, no Registration Statement nor

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any Prospectus will contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein (in the case of any
Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which
they were made), not misleading.

          (i) the Company may require each selling Holder to furnish to the Company a certified
statement as to (i) the number of shares of Common Stock beneficially owned by such Holder and any
Affiliate thereof, (ii) any Financial Industry Regulatory Authority (“FINRA”) affiliations, (iii)
any natural persons who have the power to vote or dispose of the Common Stock and (iv) any other
information as may be requested by the Commission, FINRA or any state securities commission. During
any periods that the Company is unable to meet its obligations hereunder with respect to the
registration of Registrable Securities because any Holder fails to furnish such information within
three Trading Days of the Company’s request, any Liquidated Damages that are accruing at such time
as to such Holder only shall be tolled and any Event that may otherwise occur solely because of
such delay shall be suspended as to such Holder only, until such information is delivered to the
Company.

          (j) the Company shall cooperate with any registered broker through which a Holder proposes to
resell its Registrable Securities in effecting a filing with FINRA pursuant to NASD Rule 2710 as
requested by any such Holder and the Company shall pay the filing fee required for the first such
filing within two (2) Business Days of the request therefore.

          (k) the Company shall use its commercially reasonable efforts to maintain eligibility for use
of Form S-3 (or any successor form thereto) for the registration of the resale of Registrable
Securities.

          (l) if requested by a Holder, the Company shall (i) promptly incorporate in a Prospectus
supplement or post-effective amendment to the Registration Statement such information as the
Company reasonably agrees should be included therein and (ii) make all required filings of such
Prospectus supplement or such post-effective amendment as soon as reasonably practicable after the
Company has received notification of the matters to be incorporated in such Prospectus supplement
or post-effective amendment.

          (m) the Company shall otherwise use commercially reasonable efforts to comply with all
applicable rules and regulations of the Commission under the Securities Act and the Exchange Act,
including Rule 172, notify the Holders promptly if the Company no longer satisfies the conditions
of Rule 172 and take such other actions as may be reasonably necessary to facilitate the
registration of the Registrable Securities hereunder; and make available to its security holders,
as soon as reasonably practicable, but not later than the Availability Date (as defined below), an
earnings statement covering a period of at least twelve (12) months, beginning after the effective
date of each Registration Statement, which earning statement shall satisfy the provisions of
Section 11(a) of the Securities Act, including Rule 158 promulgated thereunder (for the purpose of
this Section 3, “Availability Date” means the 45th day following the end of the fourth fiscal
quarter that includes the effective date of such Registration Statement, except that, if such
fourth fiscal quarter is the last quarter of the Company’s fiscal year, “Availability Date” means
the 90th day after the end of such fourth fiscal quarter).

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     4. Registration Expenses. All fees and expenses incident to the Company’s performance
of or compliance with its obligations under this Agreement (excluding any underwriting discounts
and selling commissions and all legal fees and expenses of legal counsel for any Holder) shall be
borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration
Statement. The fees and expenses referred to in the foregoing sentence shall include, without
limitation, (i) all registration and filing fees (including, without limitation, fees and expenses
(A) with respect to filings required to be made with any Trading Market on which the Common Stock
is then listed for trading, (B) with respect to compliance with applicable state securities or Blue
Sky laws (including, without limitation, fees and disbursements of counsel for the Company in
connection with Blue Sky qualifications or exemptions of the Registrable Securities and
determination of the eligibility of the Registrable Securities for investment under the laws of
such jurisdictions as requested by the Holders) and (C) if not previously paid by the Company in
connection with an Issuer Filing, with respect to any filing that may be required to be made by any
broker through which a Holder intends to make sales of Registrable Securities with FINRA pursuant
to the NASD Rule 2710, so long as the broker is receiving no more than a customary brokerage
commission in connection with such sale, (ii) printing expenses (including, without limitation,
expenses of printing certificates for Registrable Securities and of printing prospectuses if the
printing of prospectuses is reasonably requested by the Holders of a majority of the Registrable
Securities included in the Registration Statement), (iii) messenger, telephone and delivery
expenses, (iv) fees and disbursements of counsel for the Company, (v) Securities Act liability
insurance, if the Company so desires such insurance, and (vi) fees and expenses of all other
Persons retained by the Company in connection with the consummation of the transactions
contemplated by this Agreement. In addition, the Company shall be responsible for all of its
internal expenses incurred in connection with the consummation of the transactions contemplated by
this Agreement (including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expense of any annual audit and the fees and
expenses incurred in connection with the listing of the Registrable Securities on any securities
exchange as required hereunder. In no event shall the Company be responsible for any underwriting,
broker or similar fees or commissions of any Holder or, except to the extent provided for in the
Transaction Documents, any legal fees or other costs of the Holders.

     5. Indemnification.

          (a) Indemnification by the Company. The Company shall, notwithstanding any
termination of this Agreement, indemnify, defend and hold harmless each Holder, the officers,
directors, agents, partners, members, managers, stockholders, Affiliates and employees of each of
them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) and the officers, directors, partners, members, managers,
stockholders, agents and employees of each such controlling Person, to the fullest extent permitted
by applicable law, from and against any and all losses, claims, damages, liabilities, costs
(including, without limitation, reasonable costs of preparation and investigation and reasonable
attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are based
upon any untrue or alleged untrue statement of a material fact contained in any Registration
Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto or in
any preliminary prospectus, or arising out of or relating to any omission or alleged omission to
state a material fact required to be stated therein or necessary to make the

11

 

statements therein (in the case of any Prospectus or form of prospectus or supplement thereto,
in light of the circumstances under which they were made) not misleading, except to the extent, but
only to the extent, that (A) such untrue statements, alleged untrue statements, omissions or
alleged omissions are based solely upon information regarding such Holder furnished in writing to
the Company by such Holder expressly for use therein, or to the extent that such information
relates to such Holder or such Holder’s proposed method of distribution of Registrable Securities
and was reviewed and approved by such Holder expressly for use in the Registration Statement, such
Prospectus or such form of Prospectus or in any amendment or supplement thereto, (B) in the case of
an occurrence of an event of the type specified in Section 3(c)(iii)-(v), related to the use by a
Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing
that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice
contemplated and defined in Section 6(c) below, but only if and to the extent that following the
receipt of the Advice the misstatement or omission giving rise to such Loss would have been
corrected or (C) any such Losses arise out of the Purchaser’s (or any other indemnified Person’s)
failure to send or give a copy of the Prospectus or supplement (as then amended or supplemented),
if required, to the Persons asserting an untrue statement or alleged untrue statement or alleged
untrue statement or omission or alleged omission at or prior to the written confirmation of the
sale of Registrable Securities to such Person if such statement or omission was corrected in such
Prospectus or supplement. The Company shall notify the Holders promptly of the institution, threat
or assertion of any Proceeding arising from or in connection with the transactions contemplated by
this Agreement of which the Company is aware. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of an Indemnified Party (as defined in Section
5(c)) and shall survive the transfer of the Registrable Securities by the Holders.

          (b) Indemnification by Holders. Each Holder shall, severally and not jointly,
indemnify and hold harmless the Company, its directors, officers, agents and employees, each Person
who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of
the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to
the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising
out of or are based upon any untrue or alleged untrue statement of a material fact contained in any
Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or
supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission
or alleged omission of a material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus, or any form of prospectus or supplement thereto,
in light of the circumstances under which they were made) not misleading (i) to the extent, but
only to the extent, that such untrue statements or omissions are based solely upon information
regarding such Holder furnished in writing to the Company by such Holder expressly for use therein
or (ii) to the extent, but only to the extent, that such information relates to such Holder or such
Holder’s proposed method of distribution of Registrable Securities and was reviewed and approved by
such Holder expressly for use in a Registration Statement, such Prospectus or such form of
Prospectus or in any amendment or supplement thereto or (iii) in the case of an occurrence of an
event of the type specified in Section 3(c)(iii)-(v), to the extent, but only to the extent,
related to the use by such Holder of an outdated or defective Prospectus after the Company has
notified such Holder in writing that the Prospectus is outdated or defective and prior to the
receipt by such Holder of the Advice contemplated in Section 6(c). In no event shall the liability
of any selling Holder hereunder be

12

 

greater in amount than the dollar amount of the net proceeds received by such Holder upon the
sale of the Registrable Securities giving rise to such indemnification obligation.

          (c) Conduct of Indemnification Proceedings. If any Proceeding shall be brought or
asserted against any Person entitled to indemnity hereunder (an “Indemnified Party”), such
Indemnified Party shall promptly notify the Person from whom indemnity is sought (the “Indemnifying
Party”) in writing, and the Indemnifying Party shall have the right to assume the defense thereof,
including the employment of counsel reasonably satisfactory to the Indemnified Party and the
payment of all reasonable fees and expenses incurred in connection with defense thereof; provided,
that the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying
Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent
that it shall be finally determined by a court of competent jurisdiction (which determination is
not subject to appeal or further review) that such failure shall have materially and adversely
prejudiced the Indemnifying Party.

     An Indemnified Party shall have the right to employ separate counsel in any such Proceeding
and to participate in the defense thereof, but the fees and expenses of such counsel shall be at
the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed in
writing to pay such fees and expenses; (2) the Indemnifying Party shall have failed promptly to
assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such
Indemnified Party in any such Proceeding; or (3) such Indemnified Party shall have been advised by
counsel that a conflict of interest exists if the same counsel were to represent such Indemnified
Party and the Indemnifying Party; provided, that the Indemnifying Party shall not be liable for the
fees and expenses of more than one separate firm of attorneys at any time for all Indemnified
Parties. The Indemnifying Party shall not be liable for any settlement of any such Proceeding
effected without its written consent, which consent shall not be unreasonably withheld, delayed or
conditioned. No Indemnifying Party shall, without the prior written consent of the Indemnified
Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is
a party, unless such settlement includes an unconditional release of such Indemnified Party from
all liability on claims that are the subject matter of such Proceeding.

     Subject to the terms of this Agreement, all fees and expenses of the Indemnified Party
(including reasonable fees and expenses to the extent incurred in connection with investigating or
preparing to defend such Proceeding in a manner not inconsistent with this Section 5(c)) shall be
paid to the Indemnified Party, as incurred, within twenty Trading Days of written notice thereof to
the Indemnifying Party; provided, that the Indemnified Party shall promptly reimburse the
Indemnifying Party for that portion of such fees and expenses applicable to such actions for which
such Indemnified Party is finally judicially determined to not be entitled to indemnification
hereunder). The failure to deliver written notice to the Indemnifying Party within a reasonable
time of the commencement of any such action shall not relieve such Indemnifying Party of any
liability to the Indemnified Party under this Section 5, except to the extent that the Indemnifying
Party is materially and adversely prejudiced in its ability to defend such action.

          (d) Contribution. If a claim for indemnification under Section 5(a) or 5(b) is
unavailable to an Indemnified Party or insufficient to hold an Indemnified Party harmless for any

13

 

Losses, then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall
contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in
such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and
Indemnified Party in connection with the actions, statements or omissions that resulted in such
Losses as well as any other relevant equitable considerations. The relative fault of such
Indemnifying Party and Indemnified Party shall be determined by reference to, among other things,
whether any action in question, including any untrue or alleged untrue statement of a material fact
or omission or alleged omission of a material fact, has been taken or made by, or relates to
information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such action,
statement or omission. The amount paid or payable by a party as a result of any Losses shall be
deemed to include, subject to the limitations set forth in this Agreement, any reasonable
attorneys’ or other reasonable fees or expenses incurred by such party in connection with any
Proceeding to the extent such party would have been indemnified for such fees or expenses if the
indemnification provided for in this Section 5(d) was available to such party in accordance with
its terms.

     The parties hereto agree that it would not be just and equitable if contribution pursuant to
this Section 5(d) were determined by pro rata allocation or by any other method of allocation that
does not take into account the equitable considerations referred to in the immediately preceding
paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall be required to
contribute, in the aggregate, any amount in excess of the amount by which the net proceeds actually
received by such Holder from the sale of the Registrable Securities subject to the Proceeding
exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.

     The indemnity and contribution agreements contained in this Section 5 are in addition to any
liability that the Indemnifying Parties may have to the Indemnified Parties and are not in
diminution or limitation of the indemnification provisions under the Purchase Agreement.

     6. Miscellaneous.

          (a) Remedies. In the event of a breach by the Company or by a Holder of any of their
obligations under this Agreement, each Holder or the Company, as the case may be, in addition to
being entitled to exercise all rights granted by law and under this Agreement, including recovery
of damages, will be entitled to specific performance of its rights under this Agreement. The
Company and each Holder agree that monetary damages would not provide adequate compensation for any
losses incurred by reason of a breach by it of any of the provisions of this Agreement and hereby
further agrees that, in the event of any action for specific performance in respect of such breach,
it shall waive the defense that a remedy at law would be adequate.

          (b) Compliance. Each Holder covenants and agrees that it will comply with the
prospectus delivery requirements of the Securities Act as applicable to it (unless an

14

 

exemption therefrom is available) in connection with sales of Registrable Securities pursuant
to the Registration Statement and shall sell the Registrable Securities only in accordance with a
method of distribution described in the Registration Statement

          (c) Discontinued Disposition. By its acquisition of Registrable Securities, each
Holder agrees that, upon receipt of a notice from the Company of the occurrence of any event of the
kind described in Section 3(c)(iii)-(v), such Holder will forthwith discontinue disposition of such
Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”)
by the Company that the use of the applicable Prospectus (as it may have been supplemented or
amended) may be resumed. The Company may provide appropriate stop orders to enforce the
provisions of this paragraph.

          (d) No Inconsistent Agreements. Neither the Company nor any of its Subsidiaries has
entered, as of the date hereof, nor shall the Company or any of its Subsidiaries, on or after the
date hereof, enter into any agreement with respect to its securities, that would have the effect of
impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the
provisions hereof.

          (e) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, modified or supplemented, or waived unless the
same shall be in writing and signed by the Company and Holders holding at least two-thirds of the
then outstanding Registrable Securities, provided that any party may give a waiver as to
itself. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof
with respect to a matter that relates exclusively to the rights of Holders and that does not
directly or indirectly affect the rights of other Holders may be given by Holders of all of the
Registrable Securities to which such waiver or consent relates; provided, however, that the
provisions of this sentence may not be amended, modified, or supplemented except in accordance with
the provisions of the immediately preceding sentence. Notwithstanding the foregoing, if any such
amendment, modification or waiver would adversely affect in any material respect any Holder or
group of Holders who have comparable rights under this Agreement disproportionately to the other
Holders having such comparable rights, such amendment, modification, or waiver shall also require
the written consent of the Holder(s) so adversely affected.

          (f) Notices. Any and all notices or other communications or deliveries required or
permitted to be provided hereunder shall be delivered as set forth in the Purchase Agreement.

          (g) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and permitted assigns of each of the parties and shall inure to the
benefit of each Holder. Nothing in this Agreement, express or implied, is intended to confer upon
any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly
provided in this Agreement. The Company may not assign its rights (except by merger or in
connection with another entity acquiring all or substantially all of the Company’s assets) or
obligations hereunder without the prior written consent of all the Holders of the then outstanding

15

 

Registrable Securities. Each Holder may assign its respective rights hereunder in the manner
and to the Persons as permitted under the Purchase Agreement.

          (h) Execution and Counterparts. This Agreement may be executed in two or more
counterparts, each of which when so executed shall be deemed to be an original and, all of which
taken together shall constitute one and the same Agreement and shall become effective when
counterparts have been signed by each party and delivered to the other party, it being understood
that both parties need not sign the same counterpart. In the event that any signature is delivered
by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall
create a valid and binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile or “.pdf” signature were the original
thereof.

          (i) Governing Law. All questions concerning the construction, validity, enforcement
and interpretation of this Agreement shall be determined in accordance with the provisions of the
Purchase Agreement.

          (j) Cumulative Remedies. Except as provided in Section 2(c) with respect to
Liquidated Damages, the remedies provided herein are cumulative and not exclusive of any other
remedies provided by law.

          (k) Severability. If any term, provision, covenant or restriction of this Agreement
is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated, and the parties
hereto shall use their good faith reasonable efforts to find and employ an alternative means to
achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties
that they would have executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

          (l) Headings. The headings in this Agreement are for convenience only and shall not
limit or otherwise affect the meaning hereof.

          (m) Dates and Time. For purposes of this Agreement, all references to dates and times
shall refer to the date and time in Los Angeles, California.

[Signature Page Follows]

16

 

[Signature Page to Registration Rights Agreement]

     IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement to be
executed by the respective authorized signatories as of the date first indicated above.

	 	 	 	 	 
	 	HANMI FINANCIAL CORPORATION

 	 
	 	By:  	/s/ Jay S. Yoo
 	 
	 	 	Jay S. Yoo 	 
	 	 	President and Chief Executive Officer 	 
	 
	 	LEADING INVESTMENT & SECURITIES CO., LTD.

 	 
	 	By:  	/s/ Cheul Park
 	 
	 	 	Cheul Park 	 
	 	 	Chairman and Chief Executive Officer 	 
	 

17EX-4.6

Exhibit 4.6

[FORM OF FACE OF NOTE]

     THIS SECURITY AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF SUCH SECURITY HAVE NOT BEEN AND
WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR
OTHER SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THIS SECURITY UNDER
THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS; (B) IN AN OFFSHORE TRANSACTION MEETING THE
REQUIREMENTS OF REGULATION S UNDER THE SECURITIES ACT OR (C) AN OPINION OF COUNSEL, IN A GENERALLY
ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT AND APPLICABLE STATE
SECURITIES LAWS OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT; PROVIDED,
HOWEVER, THAT IN EACH CASE, THIS SECURITY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO ANY
U.S. PERSON (AS DEFINED IN REGULATION S) WITHIN 40 DAYS FOLLOWING THE DATE OF THIS SECURITY.

     THE HOLDER OF THIS SECURITY AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THE SECURITY
EVIDENCED HEREBY IS TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE I(A) OR (II) ABOVE) A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.

 

 

YINGLI GREEN ENERGY HOLDING COMPANY LIMITED

10.0% GUARANTEED SENIOR SECURED CONVERTIBLE NOTES DUE 2012

No. 1 $20,000,000

     YINGLI GREEN ENERGY HOLDING COMPANY LIMITED, a company duly organized and validly existing
under the laws of the Cayman Islands (herein called the “Company”, which term includes any
successor corporation under the Indenture referred to on the reverse hereof), for value received
hereby promises to pay to Gold Sight International Limited, at the office or agency of the Company
maintained for that purpose in accordance with the terms of the Indenture, in such coin or currency
of the United States of America as at the time of payment shall be legal tender for the payment of
public and private debts, (i) the Repurchase Amount as and when required pursuant to the Indenture,
(ii) interest, quarterly on January 25, April 25, July 25 and October 25 of each year, commencing
April 25, 2009 on the outstanding principal sum of the Note at said office or agency, in like coin
or currency, at the rate per annum of 10.0%, from and including January 16 2009 or from the most
recent Interest Payment Date to which interest has been paid or duly provided for to, but excluding
the following Interest Payment Date and (iii) any Default Interest payable pursuant to Section 4.01
of the Indenture or otherwise, and (iv) interest on overdue principal and (to the extent that
payment of such interest is enforceable under applicable law) interest at the rate borne by the
Notes, if any, at the rate of 5% per annum.

     Except as otherwise provided in the Indenture, the interest payable on the Note pursuant to
the Indenture on any January 25, April 25, July 25 and October 25 will be paid to the Person
entitled thereto as it appears in the Security Register at the close of business on the record
date, which shall be the January 11, April 11, July 11 and October 11 (whether or not a Business
Day) next preceding such January 25, April 25, July 25 and October 25 (each, an “Interest Payment
Date”), as provided in the Indenture; provided that in any case where any Interest Payment Date of
any Note is not a Business Day at the city in which the Corporate Trust Office of the Trustee is
located, then (notwithstanding any other provision of the Indenture or of the Notes) payment of
Interest need not be made at such Corporate Trust Office of the Trustee on such date, but such
payment may be made on the next succeeding Business Day at such Corporate Trust Office of the
Trustee with the same force and effect as if made on the Interest Payment Date and the Interest
should be computed to the Interest Payment Date; provided further that any such interest not
punctually paid or duly provided for shall be payable as provided in the Indenture. The Company
shall pay interest on any Notes check mailed to the address of the Person entitled thereto as it
appears in the Security Register provided that the holder of Notes with an aggregate principal
amount in excess of $1,000,000 shall, at the written election of such holder, be paid by wire
transfer of immediately available funds.

     Reference is made to the further provisions of this Note set forth on the reverse hereof,
including, without limitation, provisions giving the holder of this Note the right to convert this
Note into Common Stock of the Company on the terms and subject to the limitations referred to on
the reverse hereof and as more fully specified in the Indenture. Such further provisions shall for
all purposes have the same effect as though fully set forth at this place.

     This Note shall be governed by and construed in accordance with the laws of the State of New
York.

     This Note shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been manually signed by the Trustee or a duly authorized
authenticating agent under the Indenture.

2

 

IN WITNESS WHEREOF, the Company has caused this Note to be duly executed.

YINGLI GREEN ENERGY HOLDING COMPANY LIMITED

	 	 	 	 	 
	By:

	 	/s/ Zongwei Li
	 	 
	 

	 	Name: Zongwei Li	 	 
	 

	 	Title: Chief Financial Officer	 	 

Attest:

	 	 	 	 	 
	By:

	 	/s/ Xiangdong Wang
	 	 
	 

	 	Name: Xiangdong Wang	 	 
	 

	 	Title: Director	 	 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes described in the within-named Indenture.

DEUTSCHE BANK AG HONG KONG BRANCH,

as Authenticating Agent

	 	 	 
	By:

	 	/s/ Aric Kay-Russell & Chiu Kin Wing Edward

     Authorized Signatory

Dated:

3

 

[FORM OF REVERSE OF NOTE]

YINGLI GREEN ENERGY HOLDING COMPANY LIMITED

10.0% GUARANTEED SENIOR SECURED CONVERTIBLE NOTE DUE 2012

     This Note is one of a duly authorized issue of Notes of the Company, designated as its
10.0% Guaranteed Senior Secured Convertible Notes due 2012 (herein called the
“Notes”), in an aggregate principal amount of $20,000,000 or such other amount as shown on
the Security Register as being represented by this Note, issued and to be issued under and pursuant
to an Indenture dated January 16, 2009 (herein called the “Indenture”), among the Company,
Mr. Liansheng Miao and Yingli Power Holding Co. Ltd., as the Guarantors, Yingli Power Holding Co.
Ltd, as Chargor, and DB Trustees (Hong Kong) Limited as trustee (herein called the
“Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby
made for a description of the rights, limitations of rights, obligations, duties and immunities
thereunder of the Trustee, the Company and the holders of the Notes.

     In case an Event of Default shall have occurred and be continuing, the principal of and
accrued and unpaid Interest on all Notes may be declared by either the Trustee or the holders of
not less than 25% in aggregate principal amount of the Notes then outstanding, and upon said
declaration shall become, due and payable, in the manner, with the effect and subject to the
conditions provided in the Indenture.

     The Indenture contains provisions permitting the Company and the Trustee, with the consent of
the holders of a majority in aggregate principal amount of the Notes at the time outstanding, to
execute supplemental indentures adding any provisions to or changing in any manner or eliminating
any of the provisions of the Indenture or of any supplemental indenture or modifying in any manner
the rights of the holders of the Notes; provided that no such supplemental indenture shall (i)
extend the fixed maturity of any Note, (ii) reduce the rate or extend the time of payment of
Interest thereon, (iii) reduce the principal amount thereof or reduce any amount payable upon
redemption or repurchase thereof, (iv) change the obligation of the Company to repurchase any Note
upon the happening of a Termination of Trading in a manner adverse to the holders of Notes, (v)
impair the right of any Noteholder to institute suit for the payment thereof, (vi) make the
principal thereof or interest thereon payable in any coin or currency other than that provided in
the Notes, (vii) impair the right to convert the Notes into Common Stock or reduce the number of
shares of Common Stock or any other property receivable by a Noteholder upon conversion subject to
the terms set forth in the Indenture, including Section 15.05 thereof, in each case, without the
consent of the holder of each Note so affected, (viii) modify any of the provisions of Section 8.02
or Section 6.08 thereof, except to increase any such percentage or to provide that certain other
provisions of the Indenture cannot be modified or waived without the consent of the holder of each
Note so affected, (ix) change any obligation of the Company to maintain an office or agency in the
places and for the purposes set forth in Section 4.02 thereof, (x) reduce the quorum or voting
requirements set forth in Article 14, thereof (xi) subordinate the Notes or any Guarantee to any
other obligation of the Company or the applicable Guarantor, (xii) release the security interest
granted in favor of the holders on the Notes in the Collateral other than pursuant to the terms of
the Security Documents or Section 10.02 thereof, (xiii) release any security interest that may have
been granted in favor of the holders of the Notes other than pursuant to the terms of such security
interest, (xiv) reduce any premium payable upon a Change of Control or, at any time after a Change
of Control has occurred, change the time at which the Change of Control Offer relating thereto must
be made or at which the Notes must be repurchased pursuant to such Change of Control Offer, (xv)
make any change in any Guarantee that would adversely affect the holders or (xvi) reduce the
aforesaid percentage of Notes, the holders of which are required to consent to any such
supplemental indenture, without the consent of the holders of all Notes then outstanding. Subject
to the

4

 

provisions of the Indenture, the holders of a majority in aggregate principal amount of the
Notes at the time outstanding may on behalf of the holders of all of the Notes waive any past
Default or Event of Default under the Indenture and its consequences except (A) a default in the
payment of Interest on, or the principal of, or any Repurchase Amount in respect of the Notes, (B)
a failure by the Company to convert any Notes into Common Stock of the Company, (C) a default in
the payment of the Purchase Price pursuant to Section 3.02 of the Indenture or (D) a default in
respect of a covenant or provisions of the Indenture which under Article 8 of the Indenture cannot
be modified or amended without the consent of the holders of each or all Notes then outstanding or
affected thereby. Any such consent or waiver by the holder of this Note (unless revoked as
provided in the Indenture) shall be conclusive and binding upon such holder and upon all future
holders and owners of this Note and any Notes which may be issued in exchange or substitution
hereof, irrespective of whether or not any notation thereof is made upon this Note or such other
Notes.

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and Interest on this Note at the place, at the respective times, at the rate and in
the coin or currency herein prescribed.

     Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day
months.

     The Notes are issuable in fully registered form, without coupons, in denominations of $100,000
principal amount and any multiple of $1,000 thereafter. At the office or agency of the Company
referred to on the face hereof, and in the manner and subject to the limitations provided in the
Indenture, without payment of any service charge but with payment of a sum sufficient to cover any
tax, assessment or other governmental charge that may be imposed in connection with any
registration or exchange of Notes, Notes may be exchanged for a like aggregate principal amount of
Notes of any other authorized denominations.

     The Notes are not subject to redemption through the operation of any sinking fund.

     In the event that the Company shall be required to commence a Change of Control Offer or a
Termination of Trading Offer, the Company shall mail to all holders of record of the Notes a notice
which states the terms of such Offer to Purchase and the circumstances and relevant facts regarding
such event. Each holder shall have the right to accept such offer and require the Company to
repurchase all or any portion of such holder’s Notes in cash equal to the Repurchase Amount.

     Holders electing to have a Note purchased pursuant to a Offer to Purchase shall deliver to the
Company such Note with the form entitled “Purchase Notice” on the reverse thereof duly
completed, together with the Note, duly endorsed for transfer, at any time prior to the close of
business on the Business Day immediately preceding the Purchase Date, and shall deliver the Notes
to the Trustee (or other paying agent appointed by the Company) as set forth in the Indenture.

     If the Purchase Date is on or after a record date for the payment of interest and on or before
the related Interest Payment Date, any accrued and unpaid Interest shall be paid to the Person in
whose name a Note is registered at the close of business on such record date for the payment of
interest, and no further Interest shall be payable to holders who tender Notes pursuant to the
Offer to Purchase. The Notes will be subject to repurchase in a minimum principal amount of
$100,000 and integral multiples of $1,000 in excess thereof.

     The holder shall be entitled to withdraw any Purchase Notice if the Company, or the Paying
Agent, as the case may be, receives, not later than the expiration of the Offer Period, a telegram,
facsimile

5

 

transmission or letter setting forth the name of the holder, the principal amount of this Note
(or portions thereof) the holder delivered for purchase and a statement that such holder is
withdrawing his election to have this Note purchased.

     If money or cash, sufficient to pay the repurchase price of all Notes or portions thereof to
be purchased as of the Purchase Date is deposited with the Trustee (or other paying agent appointed
by the Company), on the Purchase Date, interest will cease to accrue on such Notes (or portions
thereof) immediately after such Purchase Date, and the holder thereof shall have no other rights as
such other than the right to receive the repurchase price upon surrender of such Note.

     Subject to the foregoing paragraph and occurrence of certain events and in compliance with the
provisions of the Indenture, prior to the final maturity date of the Notes, the holder hereof has
the right, at its option, to convert each $100,000 principal amount of the Notes into 17,699 shares
of the Company’s Common Stock (a conversion price of approximately $5.65 per share), as such shares
shall be constituted at the date of conversion and subject to adjustment from time to time as
provided in the Indenture, upon surrender of this Note with the form entitled “Conversion
Notice” on the reverse thereof duly completed, and manually signed, together with this Note
duly endorsed for transfer, accompanied by the funds, if any, required by Section 15.02 of the
Indenture, such notice also stating the name or names (with address or addresses) in which the
certificate or certificates for shares of Common Stock which shall be issuable on such conversion
shall be issued, and accompanied by transfer or similar taxes, if required pursuant to Section
15.07 of the Indenture.

     No adjustment in respect of interest on any Note converted or dividends on any shares issued
upon conversion of such Note will be made upon any conversion except as set forth in the next
sentence. If this Note (or portion hereof) is surrendered for conversion during the period from
the close of business on any record date for the payment of interest to the close of business on
the Business Day preceding the following Interest Payment Date, this Note (or portion hereof being
converted) must be accompanied by payment, in immediately available funds or other funds acceptable
to the Company, of an amount equal to the interest otherwise payable on such Interest Payment Date
on the principal amount being converted; provided that no such payment shall be required (1) if the
Company has specified a Purchase Date that is during such period or (2) to the extent of any
overdue Interest, if any overdue interest exists at the time of conversion with respect to such
Note.

     No fractional shares will be issued upon any conversion, but an adjustment and payment in cash
will be made, as provided in the Indenture, in respect of any fraction of a share which would
otherwise be issuable upon the surrender of any Note or Notes for conversion.

     A Note in respect of which a holder is exercising its right to require repurchase upon a
Change of Control Offer or Termination of Trading Offer on a Purchase Date may be converted only if
such holder withdraws its election to exercise either such right in accordance with the terms of
the Indenture.

     Upon due presentment for registration of transfer of this Note at the office or agency of the
Company maintained for that purpose in accordance with the terms of the Indenture, a new Note or
Notes of authorized denominations for an equal aggregate principal amount will be issued to the
transferee in exchange thereof, subject to the limitations provided in the Indenture, without
charge except for any tax, assessment or other governmental charge imposed in connection therewith.

     The Company, the Trustee, any authenticating agent, any paying agent, any conversion agent and
any Registrar may deem and treat the registered holder hereof as the absolute owner of this Note
(whether or not this Note shall be overdue and notwithstanding any notation of ownership or other
writing hereon made by anyone other than the Company or any Registrar) for the purpose of receiving
payment hereof,

6

 

or on account hereof, for the conversion hereof and for all other purposes, and neither the
Company nor the Trustee nor any other authenticating agent nor any paying agent nor other
conversion agent nor any Registrar shall be affected by any notice to the contrary. All payments
made to or upon the order of such registered holder shall, to the extent of the sum or sums paid,
satisfy and discharge liability for monies payable on this Note.

     The Trustee under the Indenture, in its individual or any other capacity, may enter into
business transactions with the Company, its Affiliates or any entity related thereto without
accounting for any profit.

     No recourse for the payment of the principal of or Interest on this Note, or for any claim
based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant
or agreement of the Company in the Indenture or any supplemental indenture or in any Note, or
because of the creation of any indebtedness represented thereby, shall be had against any
incorporator, shareholder, employee, agent, officer or director or subsidiary, as such, past,
present or future, of the Company or of any successor corporation, either directly or through the
Company or any successor corporation, whether by virtue of any constitution, statute or rule of law
or by the enforcement of any assessment or penalty or otherwise, all such liability being, by
acceptance hereof and as part of the consideration for the issue hereof, expressly waived and
released.

     This Note shall be governed by and construed in accordance with the laws of New York.

     Terms used in this Note and defined in the Indenture are used herein as therein defined.

7

 

ABBREVIATIONS

     The following abbreviations, when used in the inscription of the face of this Note, shall be
construed as though they were written out in full according to applicable laws or regulations.

	 	 	 	 	 	 	 	 	 	 	 
	TEN COM

	 	-
	 	as tenants in common
	 	UNIF GIFT MIN ACT
	 	-
	 	Custodian
	TEN ENT

	 	-
	 	as tenant by the entireties
	 	(Cust) (Minor)	 	 	 	 
	JT TEN	 	-	 	as joint tenants with right of survivorship under Uniform Gifts to Minors
Act and not as tenants in common

	 	 	 	 	 
	 

	 	 	 	(State)

Additional abbreviations may also be used though not in the above list.

8

 

CONVERSION NOTICE

TO: YINGLI GREEN ENERGY HOLDING COMPANY LIMITED

                    

     The undersigned registered owner of this Note hereby irrevocably exercises the option to
convert this Note, or the portion thereof (which is $100,000 or a multiple of $1,000 in excess
thereof) below designated, into shares of Common Stock of Yingli Green Energy Holding Company
Limited in accordance with the terms of the Indenture referred to in this Note, and directs that
the shares issuable and deliverable upon such conversion, together with any check in payment for
fractional shares and any Notes representing any unconverted principal amount hereof, be issued and
delivered to the registered holder hereof unless a different name has been indicated below.
Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the
Indenture. If shares or any portion of this Note not converted are to be issued in the name of a
person other than the undersigned, the undersigned will provide the appropriate information below
and pay all transfer taxes payable with respect thereto. Any amount required to be paid by the
undersigned on account of interest, including additional interest, if any, accompanies this Note.

Dated:

	 
	 

	 

	 

Signature(s)

Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of
the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined
by the Registrar in addition to, or in substitution for, STAMP.

 

Fill in the registration of shares of Common Stock if to be issued, and Notes if to be delivered,
other than to and in the name of the registered holder:

	 	 	 
	 

(Name)

	 	 
	 
	 	 
	 

(Street Address)

	 	 
	 
	 	 
	 

(City, State and Zip Code)

	 	 
	 
	 	 
	 

Please print name and address

	 	 

Principal amount to be converted

(if less than all):

9

 

	 	 	 	 	 
	$
	 	 	 	 
	 

	 	 

	 	 

Social Security or Other Taxpayer

Identification Number:

	 	 	 
	 

	 	 

10

 

PURCHASE NOTICE

TO: YINGLI GREEN ENERGY HOLDING COMPANY LIMITED

                    

     The undersigned registered owner of this Note hereby irrevocably acknowledges receipt of a
notice from Yingli Green Energy Holding Company Limited (the “Company”) regarding the right
of holders to elect to require the Company to repurchase the Notes upon the occurrence of either a
Change of Control Offer or a Termination of Trading Offer and requests and instructs the Company to
repay the entire principal amount of this Note, or the portion thereof (which is $100,000 or an
integral multiple of $1,000 in excess thereof) below designated, in accordance with the terms of
the Indenture at the price of the Repurchase Amount, to the registered holder hereof.

     Capitalized terms used herein but not defined shall have the meanings ascribed to such terms
in the Indenture. The Notes shall be purchased by the Company as of the Purchase Date pursuant to
the terms and conditions specified in the Indenture.

$      principal amount of the Notes to which this Purchase Notice relates (if less than entire
principal amount) pursuant to 4.13 or 4.17 of the Indenture, check the box below:

	 	 	 	 	 	 	 	 	 
	o

	 	Section 4.13
	 	Purchase Date:	 	 	 	 
	 
	 	 	 	 	 	
 

	 	 
	 
	 	 	 	 	 	 	 	 
	o

	 	Section 4.17	 	 	 	 	 	 

Dated:

Signature(s):

NOTICE: The above signatures of the holder(s) hereof must correspond with the name as written upon
the face of the Note in every particular without alteration or enlargement or any change whatever.

11

 

Note Certificate Number (if applicable):

Principal amount to be repurchased (if less than all):

Social Security or Other Taxpayer Identification Number:

Assignment Form

To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to

	 
	 

	(Insert assignee’s social security or other tax I.D. no.)

	 

	 

	 
	 

	 

	 
	 

	 

	 

	 
	 

	(Print or type assignee’s name, address and zip code)

	 

	and irrevocably appoint
                                                                  
                                                                                              
as agent to transfer this Note on the books of the Company. The agent may substitute another to act for him.

	 

	 

Date:                                         

Your Signature:                                                            

(Sign exactly as your name appears on the face 

of this Note)

Signature Guarantee:

12

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