Document:

EX-4.12

Exhibit 4.12

 

AMENDED AND RESTATED FRAMEWORK AGREEMENT

Dated as of December 1, 2009

by and between

LDK Solar Co., Ltd.

and

Best Solar Co., Ltd.

 

 

 

AMENDED AND RESTATED FRAMEWORK AGREEMENT

     This AMENDED AND RESTATED FRAMEWORK AGREEMENT (the “Agreement”) is entered into as of this
1st day of December 2009 to amend and restate the framework agreement dated as of August
24, 2009 by and between LDK Solar Co., Ltd. (“LDK Solar”) and Best Solar Co., Ltd. (“Best Solar”).
LDK Solar and Best Solar may be referred to herein individually as a “Party” and collectively as
the “Parties”).

BACKGROUND

     WHEREAS LDK Solar, a leading manufacturer of multicrystalline solar wafers and a wafer
processing service provider to monocrystalline and multicrystalline solar cell and module
manufacturers, is a reporting issuer under the U.S. securities laws with its shares represented by
American depositary shares listed on the New York Stock Exchange (“NYSE”) and is majority-owned by
LDK New Energy Holding Limited (“LDKNE Holding”);

     WHEREAS Best Solar, a large manufacturer of solar modules and large provider of solar panel
solutions possessing the relevant product qualifications in several jurisdictions, is a private
company wholly owned by LDKNE Holding;

     WHEREAS, the Parties wish to cooperate with each other and take advantage of their respective
complementary strengths in the different sectors of the photovoltaic industry in order to achieve a
mutually beneficial result under the current market conditions, without breaching the legal,
fiduciary and other obligations of the Parties and their respective affiliates under the relevant
laws, including the U.S. securities laws and the NYSE rules, as a result of these related-party
transactions; and

     WHEREAS, this Agreement is subject to the approvals of both Parties in accordance with their
respective internal procedures.

     NOW THEREFORE, in the spirit of mutual cooperation and fairness to the interests of both
Parties, the Parties hereto agree as follows:

ARTICLE I

PHOTOVOLTAIC DOWN-STREAM COOPERATION

     (a) Pursuant to the Provisional Administrative Measures Relating to Fiscal Funding Support to
Golden Sun Trial Implementation Program issued by the PRC government on July 16, 2009, the PRC
government has announced plans to financially support the construction and operation of
photovoltaic power stations in China.

     (b) In order to take advantage of the opportunities created by these and other favorable PRC
policies, LDK Solar hereby agrees to contract for solar module manufacturing services from Best
Solar with the requisite solar cells supplied by LDK Solar; and Best Solar hereby agrees to provide
such solar module manufacturing services to LDK Solar at prices no less favorable than those it
offers to independent third parties with comparable quality and quantity.

     (c) LDK Solar will sign a supplemental module supply agreement (including purchase orders) to
define the volume, delivery schedule, price and quality as well as the relevant module manufacture
materials, such as wafers and cells, of the solar modules and/or the relevant tolling services to
be provided by Best Solar.

     (d) Best Solar understands that these contractual arrangements with LDK Solar constitute
related-party transactions and that LDK Solar will need to undertake and pass necessary internal
control and other corporate governance procedures (including without limitation the review and
approval of the pricing and other terms and conditions thereof by the audit committee of the board
of directors of LDK Solar) before LDK Solar may enter into each of these related-party
transactions.

     (e) Best Solar also understands and agrees that LDK Solar has established a photovoltaic
engineering, procurement and construction (“EPC”) company to construct solar power stations in
China and that LDK Solar has quality, quantity, delivery timing and other requirements and that
Best Solar will make its best reasonable endeavors

- 1 -

 

to comply with such requirements of LDK Solar.

ARTICLE II

PURCHASE AND SALE OF MODULE PRODUCTION CAPACITY

     (a) The Parties hereby agree that, when market and other conditions permit, LDK Solar may wish
to purchase all or a certain part of the solar module production capacity of Best Solar on terms
and subject to conditions fair to both Parties, including Best Solar establishing a dedicated
production facility for solar module manufacturing exclusively for the purpose of supplying solar
modules to LDK Solar; and Best Solar hereby agrees to entertain such discussion with a view to
reaching a mutually beneficial agreement with LDK Solar.

     (b) Best Solar understands that such production capacity purchase arrangements with LDK Solar
constitute related-party transactions and that LDK Solar will need to undertake and pass necessary
internal control and other corporate governance procedures (including without limitation the review
and approval of the pricing and other terms and conditions thereof by the audit committee of the
board of directors of LDK Solar) before LDK Solar may enter into such related-party transactions.

ARTICLE III

ACQUISITION OF MODULE PRODUCTION FACILITIES

     (a) The Parties hereby agree that, when market and other conditions permit, LDK Solar may wish
to purchase all or a portion of the solar module production facilities of Best Solar on terms and
subject to conditions fair to both Parties; and Best Solar hereby agrees to entertain such
discussion with a view to reaching a mutually beneficial agreement with LDK Solar.

     (b) Best Solar understands that such acquisition of module production facilities by LDK Solar
constitutes a related-party transaction and that LDK Solar will need to undertake and pass
necessary internal control and other corporate governance procedures (including without limitation
the review and approval of the pricing and other terms and conditions thereof by the audit
committee of the board of directors of LDK Solar and review and confirmation by independent
financial advisors to LDK Solar, including their fairness opinions if required or necessary under
the circumstances) before LDK Solar may enter into such related-party transactions.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

     (a) Representations and Warranties of LDK Solar. LDK Solar represents and warrants to
Best Solar the following:

     (i) LDK Solar has full power, authority, and legal right to execute and deliver this
Agreement, and to perform all of its obligations hereunder.

     (ii) LDK Solar has taken all actions that are necessary or advisable: (A) for the
execution, delivery, performance, and observance by LDK Solar of this Agreement; and (B) for
the validity, binding effect and enforceability of this Agreement.

	 	(b)	 	Representations and Warranties of Best Solar. Best Solar represents
and warrants to LDK Solar the following:

     (i) Best Solar has full power, authority, and legal right to execute and deliver this
Agreement and to perform all of its obligations hereunder.

     (ii) Best Solar has taken all actions that are necessary or advisable: (A) for the
execution, delivery, performance, and observance by Best Solar of this Agreement; and (B)
for the validity, binding effect and enforceability of this Agreement.

- 2 -

 

     (iii) Best Solar has obtained IEC/EN6125, IEC61730 tested by TUV, UL1703 tested by ETL,
CQC certifications for its solar module manufacturing and such certification remains valid,
not revoked and without any modification or qualification by the certifying authorities.

     (iv) All certificates, licenses, permits, authorizations and approvals required or
necessary for the module manufacturing business of Best Solar and its subsidiaries as
presently conducted are validly held by Best Solar or its subsidiary, and Best Solar and its
subsidiaries are in compliance, and has complied, in all material respects with all terms
and conditions thereof.

     (v) Best Solar owns or has the right to use all of the intellectual properties,
including without limitation any patent, patent application, patent right, trademark,
trademark registration, trademark application, servicemark, trade name, business name, brand
name, copyright, copyright registration, design or design registration, currently used or
otherwise required or necessary in the module manufacturing business of Best Solar and its
subsidiaries as presently conducted. The conduct of the business of Best Solar and its
subsidiaries as presently conducted does not violate, conflict with or infringe the
intellectual property of any other person. No claims are pending or, to the knowledge of
Best Solar, threatened, against it or any of its subsidiaries by any person with respect to
the ownership, validity, enforceability, effectiveness or use in the business of Best Solar
and its subsidiaries of any such intellectual property.

     (vi) Best Solar and its subsidiaries are, and at all times have been, in compliance
with all applicable laws, including those relating to occupational health and safety, and
all judgments applicable to Best Solar, its subsidiaries or any assets owned or used by any
of them, except for instances of noncompliance that, individually or in the aggregate, have
not had and would not reasonably be expected to have a material adverse effect (a) on the
business, assets, liabilities, condition (financial or otherwise), results of operations or
prospects of Best Solar and its subsidiaries, taken as a whole, or (b) on the ability of
Best Solar to consummate the transactions contemplated herein on a timely basis and to
perform its obligations under this Agreement.

ARTICLE V

COVENANTS

     (a) Covenants of Best Solar. Best Solar covenants and undertakes to LDK Solar as
follows:

     (i) It shall promptly advise LDK Solar in writing of the occurrence of any matter or
event that is material to the business, assets, condition (financial or otherwise), results
of operations or prospects of Best Solar and its subsidiaries, taken as a whole.

     (ii) It shall promptly advise LDK Solar in writing of any conflict with, or
infringement of, the intellectual property of any other person with respect to the
ownership, validity, enforceability, effectiveness or use of the intellectual properties,
including without limitation any patent, patent application, patent right, trademark,
trademark registration, trademark application, servicemark, trade name, business name, brand
name, copyright, copyright registration, design or design registration, that Best Solar
and/or its subsidiaries currently own or use in their businesses.

     (iii) It shall promptly advise LDK Solar in writing of any amendment, revocation,
cancellation, renewal, modification or qualification with respect to IEC/EN6125, IEC61730
tested by TUV, UL1703 tested by ETL, CQC and other certifications, from time to time, for
its solar module manufacturing by the certifying authorities.

     (iv) It will promptly seek approvals, corporate, regulatory or otherwise, for the
transactions contemplated hereunder and its performance of the obligations provided
hereunder and shall promptly inform LDK Solar accordingly.

     (b) Covenants of LDK Solar. LDK Solar covenants and undertakes to Best Solar that it
will promptly seek approvals, corporate, regulatory or otherwise, for the transactions contemplated
hereunder and its performance of the obligations provided hereunder and shall promptly inform Best
Solar accordingly.

- 3 -

 

     (c) Non-compete Covenants of the Parties. The Parties acknowledge that Best Solar has
been engaged in solar module manufacturing as well as sale of solar modules in China and that LDK
Solar has been engaged in photovoltaic system and/or solar power station construction in China with
its EPC capability as well as sale of solar modules outside China; and the Parties hereby covenant
and undertake to each other that they will each continue their engagements along the lines of their
respective existing operations in the solar module business, without competing in the other’s
operations as described above; provided, however, that such non-compete covenants of LDK Solar
shall not apply upon its acquisition of any solar module production facility from Best Solar
pursuant to Article III.

ARTICLE VI

GOVERNING LAW AND JURISDICTION

     (a) In the event of any claim, controversy or dispute between the Parties with respect to this
Agreement, each Party agrees to consult with the other for a period of not less than ninety (90)
days from the date notice is given by a Party to the other Party that a claim, controversy, or
dispute exists in order to determine whether there is a mutually acceptable resolution.

     (b) In the event that the consultation provided for in paragraph (a) of this Article has not
resulted in a mutually acceptable resolution, then such matter shall be exclusively and finally
settled by arbitration held in Shanghai by China International Economic and Trade Arbitration
Committee (“CIETAC”) in accordance with its prevailing rules at the time of arbitration, whose
decision shall be final and legally binding on each Party. The arbitral tribunal shall consist of
three (3) arbitrators to be appointed in accordance with such CIETAC rules. The arbitration fees
payable to the arbitration organization and any reasonable attorney’s fees shall be borne by the
losing Party unless otherwise determined in the arbitration award. The arbitration proceedings
shall be conducted in Chinese.

     (c) Nothing in this Agreement shall prevent either Party from seeking provisional measures or
other interim relief from any court of competent jurisdiction and any such request shall not be
deemed incompatible with the agreement to arbitration in this Agreement or as a waiver of the right
to arbitrate.

     (d) Pending resolution of the dispute in accordance with this Article, the Parties shall
continue to punctually perform their respective obligations and duties under this Agreement, except
for those relating to discrepancies under arbitration.

     (e) THIS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
PEOPLE’S REPUBLIC OF CHINA.

ARTICLE VII

NOTICES

     All notices and other communications pursuant to this Agreement shall be in writing, in the
English language (or accompanied by an accurate English translation upon which the other Party
shall have the right to rely for all purposes under this Agreement), sent to the attention of the
person indicated below, and effective upon receipt at the address or number listed below (or such
other address or number provided by the relevant Party no less than 30 days prior to any notice or
communication).

	 	(a)	 	Notices to LDK Solar:
	 
	 	 	 	LDK Solar Co., Ltd.

Xinyu Hi-Tech Industrial Park

Jiangxi Province 338032

People’s Republic of China
	 
	 	 	 	Attention: Chief Financial Officer

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	 	 	 	Telephone:            (+86) 139-7902-7936

Facsimile:              (+86)  790-686-0060

	 	(b)	 	Notices to Best Solar:
	 
	 	 	 	Best Solar Co., Ltd.

6/F Administrative Building

1368 Wuzhong Avenue

Wuzhong District

Suzhou, Jiangsu Province 215104

People’s Republic of China
	 
	 	 	 	Attention: President
	 
	 	 	 	Telephone:            (+86) 135-8486-1569

Facsimile:              (+86) 512-8225-0101

ARTICLE VIII

TERMINATION OF AGREEMENT

     This Agreement may be terminated at any time by either Party upon ninety (90) days written
notice thereof being given to the other Party; provided, however, that the termination of this
Agreement shall not affect any rights or obligations of either Party arising from this Agreement
prior to such termination date.

     IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed and
delivered in counterparts, each of which shall have equal effect as of the date first above
written.

	 	 	 	 	 	 	 	 	 	 	 

	LDK SOLAR CO., LTD	 	BEST SOLAR CO., LTD.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Zhu Liangbao
 

(Signature)
	 	 
	 	By:
	 	/s/ Zhou Shan
 

(Signature)
	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Zhu Liangbao
 

(Print)
	 	 
	 	Name:
	 	Zhou Shan
 

(Print)
	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	Authorized Signatory
 

(Print)
	 	 
	 	Title:
	 	Authorized Signatory
 

(Print)
	 	 

- 5 -EX-4.13

Exhibit 4.13

ASSET PURCHASE AGREEMENT

between

LDK SOLAR CO., LTD.

and

BEST SOLAR CO., LTD.

Dated as of January 29, 2010

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE I
	DEFINITIONS AND TERMS

	 
	 	 	 	 
	Section 1.1 Specific Definitions

	 	 	1	 
	Section 1.2 Other Definition Provisions

	 	 	6	 
	 
	 	 	 	 
	ARTICLE II

	PURCHASE AND SALE OF THE PURCHASED ASSETS

	 
	 	 	 	 
	Section 2.1 Purchase and Sale of the Purchased Assets

	 	 	6	 
	Section 2.2 Excluded Assets

	 	 	6	 
	Section 2.3 Assumed Liabilities

	 	 	6	 
	Section 2.4 Excluded Liabilities

	 	 	6	 
	Section 2.5 Purchase Price

	 	 	8	 
	Section 2.6 Closing

	 	 	8	 
	Section 2.7 Deliveries by Purchaser

	 	 	8	 
	Section 2.8 Deliveries by Seller

	 	 	8	 
	 
	 	 	 	 
	ARTICLE III

	REPRESENTATIONS AND WARRANTIES OF SELLER

	 
	 	 	 	 
	Section 3.1 Organization and Qualification

	 	 	8	 
	Section 3.2 Purchased Assets

	 	 	9	 
	Section 3.3 Corporate Authorization

	 	 	9	 
	Section 3.4 Consents and Approvals

	 	 	9	 
	Section 3.5 Non-Contravention

	 	 	9	 
	Section 3.6 Binding Effect

	 	 	9	 
	Section 3.7 Litigation and Claims

	 	 	9	 
	Section 3.8 Property, Equipment and Other Purchased Assets

	 	 	10	 
	Section 3.9 Intellectual Property

	 	 	10	 
	Section 3.10 Certain Contracts

	 	 	11	 
	Section 3.11 Compliance with Laws

	 	 	12	 
	Section 3.12 Governmental Authorizations

	 	 	12	 
	Section 3.13 Collective Bargaining Agreements

	 	 	12	 
	Section 3.14 Transactions with Affiliates

	 	 	12	 
	Section 3.15 Accuracy of Copies

	 	 	13	 
	Section 3.16 Financial and Business Information

	 	 	13	 
	Section 3.17 Environmental Matters

	 	 	13	 
	Section 3.18 Real Property

	 	 	13	 
	Section 3.19 Advisors’ Fees

	 	 	13	 
	 
	 	 	 	 
	ARTICLE IV

	REPRESENTATIONS AND WARRANTIES OF PURCHASER

	 
	 	 	 	 
	Section 4.1 Organization and Qualification

	 	 	14	 
	Section 4.2 Corporate Authorization

	 	 	14	 
	Section 4.3 Consents and Approvals

	 	 	14	 
	Section 4.4 Non-Contravention

	 	 	14	 

i

 

	 	 	 	 	 
	 	 	 	Page	 
	Section 4.5 Binding Effect

	 	 	14	 
	 
	 	 	 	 
	ARTICLE V

	CERTAIN COVENANTS

	 
	 	 	 	 
	Section 5.1 Access

	 	 	14	 
	Section 5.2 Conduct of Business

	 	 	15	 
	Section 5.3 Best Reasonable Efforts

	 	 	16	 
	Section 5.4 Insurance

	 	 	16	 
	Section 5.5 Accounting Access

	 	 	16	 
	Section 5.6 Compliance with Property Transfer Laws; State
and Local Governmental Authorizations

	 	 	17	 
	Section 5.7 Further Assurances

	 	 	17	 
	Section 5.8 Certain Matters Involving the Transferred
Intellectual Property and Licensed Intellectual
Property

	 	 	17	 
	Section 5.9 Obligation to Update

	 	 	17	 
	Section 5.10 Additional Intellectual Property Matters

	 	 	17	 
	Section 5.11 Tax Matters

	 	 	18	 
	Section 5.12 Regulatory Approvals

	 	 	18	 
	Section 5.13 Non-Competition

	 	 	19	 
	 
	 	 	 	 
	ARTICLE VI

	PURCHASER’S COVENANTS

	 
	 	 	 	 
	Section 6.1 Best Reasonable Efforts

	 	 	19	 
	Section 6.2 Further Assurances

	 	 	19	 
	Section 6.3 Compliance with Property Transfer Laws; Governmental Authorizations

	 	 	19	 
	Section 6.4 Obligation to Update

	 	 	19	 
	 
	 	 	 	 
	ARTICLE VII

	CONDITIONS TO CLOSING

	 
	 	 	 	 
	Section 7.1 Conditions to the Obligations of Purchaser

	 	 	20	 
	Section 7.2 Conditions to the Obligations of Seller

	 	 	20	 
	 
	 	 	 	 
	ARTICLE VIII

	TERMINATION

	 
	 	 	 	 
	Section 8.1 Termination

	 	 	21	 
	Section 8.2 Effect of Termination

	 	 	22	 
	 
	 	 	 	 
	ARTICLE IX

	MISCELLANEOUS

	 
	 	 	 	 
	Section 9.1 Notices

	 	 	22	 
	Section 9.2 Amendment; Waiver

	 	 	23	 
	Section 9.3 Assignment

	 	 	23	 
	Section 9.4 Entire Agreement; Severability

	 	 	23	 
	Section 9.5 Fulfillment of Obligations

	 	 	23	 
	Section 9.6 Parties in Interest

	 	 	23	 
	Section 9.7 Confidential Nature of Information

	 	 	23	 
	Section 9.8 Public Disclosure

	 	 	24	 
	Section 9.9 Return of Information

	 	 	24	 
	Section 9.10 Expenses

	 	 	24	 

ii

 

	 	 	 	 	 
	 	 	 	Page	 
	Section 9.11 Governing Law and Jurisdiction

	 	 	24	 
	Section 9.12 Counterparts

	 	 	25	 
	Section 9.13 Headings

	 	 	25	 
	Section 9.14 Time is of the Essence

	 	 	25	 
	Section 9.15 Mutual Drafting

	 	 	25	 
	 
	 	 	 	 
	ANNEXES

	 
	 	 	 	 
	Annex A Purchased Assets
	 	 	 	 
	Annex B Excluded Assets
	 	 	 	 
	Annex C Excluded Liabilities
	 	 	 	 
	 
	 	 	 	 
	SCHEDULES

	 
	 	 	 	 
	Schedule 3.10 Certain Contracts
	 	 	 	 
	Schedule 3.18 Real Property
	 	 	 	 
	Schedule 5.4 Insurance
	 	 	 	 

iii

 

     ASSET PURCHASE AGREEMENT, dated as of January 29, 2010 (the “Agreement”), between LDK
Solar Co., Ltd., a company incorporated in the Cayman Islands (“Purchaser”) and Best Solar
Co., Ltd., a company incorporated in the Cayman Islands ( “Seller”).

W I T N E S S E T H:

     WHEREAS, Purchaser, a leading manufacturer of multicrystalline solar wafers and a wafer
processing service provider to monocrystalline and multicrystalline solar cell and module
manufacturers, is a reporting issuer under the U.S. securities laws with its shares represented by
American depositary shares listed on the New York Stock Exchange (“NYSE”) and is
majority-owned by LDK New Energy Holding Limited (“LDKNE Holding”);

     WHEREAS, Seller, a large manufacturer of solar modules and large provider of solar panel
solutions possessing the relevant product qualifications in several jurisdictions, is a private
company wholly owned by LDKNE Holding;

     WHEREAS, Seller desires to sell to Purchaser, and Purchaser desires to purchase from Seller,
on a going concern basis, all of the existing solar module business in mainland China, owned
directly or indirectly by Seller (the “Transferred Business”), at the net book value of
such solar module business to be determined by Orient Appraisal Co., Ltd., a certified public
accounting firm in mainland China, independent of both the Purchaser and Seller, all on the terms
and subject to the conditions set forth herein; and

     WHEREAS, the parties hereto desire that, on the terms and subject to the conditions set forth
herein, Seller sell to Purchaser, and Purchaser purchase from Seller, the Purchased Assets referred
to in Section 2.1.

     NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein,
and subject to and on the terms and conditions herein set forth, the parties hereto agree as
follows:

ARTICLE I

DEFINITIONS AND TERMS

     Section 1.1 Specific Definitions. In this Agreement:

     “Affiliates” shall mean, with respect to any Person, any Persons directly or
indirectly controlling, controlled by, or under common control with, such other Person as of the
date on which, or at any time during the period for which, the determination of affiliation is
being made. The term “control” (including, with correlative meaning, the terms
“controlled by” and “under common control with”), as used with respect to any
Person, means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of such Person, whether through the ownership of voting securities,
by contract or otherwise.

     “Agreement” shall mean this Agreement, including the schedules and annexes hereto, as
the same may be amended or supplemented from time to time in accordance with the terms hereof.

     “Best Reasonable Efforts” shall mean the diligent, good faith efforts that a
reasonably prudent Person desirous of achieving a result in an economically reasonable manner would
use in similar circumstances to achieve the desired result. The obligation of a Person under this
Agreement to use Best Reasonable Efforts to achieve a result that benefits another party to this
Agreement requires such Person to use the same resources that such Person would have reasonably
used in achieving a similar result that would have benefited such Person.

1

 

ANNEX A

     “Books and Records” shall mean information that is recorded or maintained by Seller as
evidence of the function, policies, procedures, decisions, activities, or internal and external
transactions of the Purchased Assets or the Transferred Business, including, without limitation,
all books, ledgers, files, reports, plans, operating records, correspondence, memoranda, papers,
plans, maps, drawings, diagrams, pictorial or graphic works, photographs, film, microform, sound
recordings, videotapes, machine-readable records, electronic mail (“e-mail”), and tangible copies
of the Retained Intellectual Property, in each case Related to the Purchased Assets or the
Transferred Business and regardless of its physical or electronic form or other characteristics.

     “Business Day” shall mean any day other than a Saturday, a Sunday or a day on which
banks in mainland China are authorized or obligated by law or executive order to close.

     “Closing” shall mean the closing of the transactions contemplated by this Agreement.

     “Contracts” shall mean the agreements, contracts, leases, purchase orders, service
orders, arrangements, commitments and non-governmental licenses, whether written or oral, that are
Related to the Transferred Business except to the extent included in the Excluded Assets or
Excluded Liabilities.

     “Encumbrances” shall mean liens, charges, encumbrances, security interests, options,
rights of way, written agreements, mortgages or deeds of trust, rights of first refusal, easements,
restrictive covenants, encroachments, survey defects or any other restrictions or third party
rights or claims.

     “Environmental Law” shall mean any applicable law (including common law), regulation,
code, license, permit, order, judgment, decree or injunction from any Governmental Authority (i)
relating to the protection of the environment (including air, water, soil and natural resources) or
human health and safety, (ii) the use, storage, handling, presence, release or disposal of, or any
exposure to, any Hazardous Substances or (iii) noise, odor or electromagnetic emissions.

     “Environmental Permits” shall mean all Governmental Authorizations issued under or
pursuant, or relating, to any Environmental Law.

     “Excluded Liabilities” shall mean the Liabilities that are not “Assumed Liabilities”
referred to in Section 2.3, and shall include, without limitation, the “Excluded Liabilities”
expressly listed in Section 2.4 and Annex C.

     “Final Date” shall mean the 70th calendar day following the date of this
Agreement.

     “Governmental Approval” shall mean any license, permit, certificate, consent,
validation or other authorization, approval or action of any Governmental Authority required in
connection with the transfer or assignment of any Purchased Asset or otherwise in connection with
the execution, delivery or performance by Seller of this Agreement.

     “Governmental Authority” shall mean any domestic or foreign supranational, national,
federal, state or local judicial, legislative, executive or regulatory authority.

     “Governmental Authorization” shall mean any license, permit, certificate, consent,
validation or other authorization, approval or action of any Governmental Authority required to own
and operate the Purchased Assets as currently operated by Seller under applicable Laws prior to the
Closing.

     “Hazardous Substance” shall mean any substance listed, defined, designated, classified
or regulated pursuant to any applicable Environmental Law, including petroleum and any derivative
or by-products thereof, asbestos containing material, lead containing materials and black mold.

2

 

ANNEX A

     “Intellectual Property” shall mean all (i) trademarks, service marks, brand names,
certification marks, collective marks, d/b/a’s, Internet domain names, logos, symbols, trade dress,
assumed names, fictitious names, trade names, and other indicia of origin, all applications and
registrations for the foregoing, and all goodwill associated therewith and symbolized thereby,
including all renewals of same; (ii) inventions and discoveries, whether patentable or not, and all
patents, registrations, invention disclosures and applications therefor, including divisions,
continuations, continuations-in-part and renewal applications, and including renewals, extensions
and reissues; (iii) Trade Secrets; (iv) published and unpublished works of authorship, whether
copyrightable or not (including, without limitation, databases and other compilations of
information), computer software (including software, data, source code and related documentation)
copyrights therein and thereto, and registrations and applications therefor, and all renewals,
extensions, restorations and reversions thereof; and (v) all other intellectual property or
proprietary rights.

     “Intellectual Property Contracts” shall mean all agreements concerning Intellectual
Property to which Seller is a party, including, without limitation, agreements granting either of
Seller rights to use the Licensed Intellectual Property, non-assertion agreements, settlement
agreements, agreements granting rights to use material and/or Registered Intellectual Property,
trademark coexistence agreements and trademark consent agreements.

     “IT Assets” shall mean Seller’s owned and leased printers, computers, computer
software, firmware, middleware, servers, workstations, routers, hubs, switches, data communications
lines, electronic data, data storage media, backup media (including offsite stored media), original
software distribution media and all other information technology equipment, and all associated
documentation.

     “Knowledge” of Seller as to a matter that is the subject of a representation, warranty
or condition shall mean (a) the actual knowledge as to any such matter of Seller and (b) the actual
knowledge that a prudent business person in such position would reasonably be expected to have in
light of such Person’s title and responsibilities, and after reasonable inquiry of subordinates.

     “Law” shall include any law, statute, ordinance, rule, regulation, permit, license,
authorization, order, judgment, injunction or decree of any Governmental Authority and, without
limiting the generality of the foregoing, any Governmental Authorization.

     “Liability” shall mean any debt, liability, guarantee, commitment or other obligation
(contingent or otherwise), known or unknown, matured or unmatured, due or to become due, accrued or
unaccrued.

     “Licensed Intellectual Property” shall mean the Intellectual Property that Seller is
licensed or otherwise permitted by other Persons to use.

     “Material Adverse Change” shall mean an event that has had, or is reasonably likely to
have, a Material Adverse Effect.

     “Material Adverse Effect” shall mean an effect that is materially adverse to the value
of the Transferred Business or the Purchased Assets or materially adverse to the business,
financial condition or results of operations of the Transferred Business.

     “Out-of-Pocket Expenses” shall mean payments by a Person to a third party and shall
not include compensation paid to such Person’s employees.

     “Person” shall mean an individual, a company, a corporation, a partnership, an
association, a trust or other entity or organization or any Governmental Authority.

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ANNEX A

     “Registered” means issued by, registered with, renewed by or the subject of a pending
application before any Governmental Authority or Internet domain name registrar.

     “Regulatory Requirements” means the policies, rules, decisions and regulations of or
issued by, and any undertakings or commitments made by Seller to, or agreed by Seller with any
Governmental Authority.

     “Related to” shall mean primarily related to, or used or intended to be used or held
for use primarily in connection with.

     “Related to the Purchased Assets” shall mean primarily related to, or used or intended
to be used or held prior to the Closing for use primarily in connection with, the Purchased Assets.

     “Subsidiary” shall mean any Person 50% or more of the equity interests in which are
beneficially owned directly or indirectly by Seller.

     “Successor” or “successor” shall mean the legal successor to any Person in
connection with any amalgamation, merger, reorganization or equivalent thereof and shall include,
without limitation, the purchaser of all or substantially all of the assets of such Person;
provided that Purchaser will not be Successor to Seller.

     “Taxes” shall mean taxes, fees, duties or other charges imposed by any Governmental
Authority, including, but not limited to income, franchise, gross receipts, gains, capital, value
added, ad valorem, respective severance, property, production, sales, use, transfer, stamp,
documentary, recording, registration, license, excise, employment, occupation, pension plan,
withholding, payroll, minimum taxes, windfall profit taxes or similar taxes, fees, duty or other
charges together with any interest, additions or penalties with respect thereto and any interest in
respect of such additions or penalties.

     “Trade Accounts Payable” shall mean all trade accounts payable for the purchase of
goods or services related to the Purchased Assets or the Transferred Business.

     “Trade Secrets” shall mean confidential information, trade secrets and know-how,
including without limitation processes, schematics, business methods, formulae, drawings,
prototypes, models, designs, customer lists and supplier lists.

     “Transferred Intellectual Property” shall mean all Intellectual Property that is owned
by Seller and Related to the Transferred Business.

4

 

ANNEX A

     Each of the following terms is defined in the section of this Agreement set forth opposite
such term:

	 	 	 
	Term	 	Section
	Agreement

	 	Preamble
	Assumed Liabilities

	 	 2.3
	Chosen Courts

	 	 9.10
	CIETAC

	 	 9.11(b)
	Closing Date

	 	 2.6
	Entitlement Party

	 	 2.1
	Excluded Assets

	 	 2.2
	LDKNE Holding

	 	Recitals
	Notifying Party

	 	 5.12(a)
	NYSE

	 	Recitals
	Purchase Price

	 	 2.5
	Purchaser

	 	Preamble
	Real Property

	 	 3.18(b)
	Receiving Party

	 	 2.1
	Retained Intellectual Property

	 	 5.10(b)
	Seller

	 	Preamble
	Transferred Business

	 	Recitals

5

 

ANNEX A

     Section 1.2 Other Definition Provisions.

     (a) The words “hereof”, “herein” and “hereunder” and words of similar import, when used in
this Agreement, shall refer to this Agreement as a whole and not to any particular provision of
this Agreement.

     (b) The terms defined in the singular shall have a comparable meaning when used in the plural,
and vice versa.

     (c) The terms “dollars” and “$” shall mean United States dollars.

     (d) The terms “renminbi” and “RMB” shall mean the currency of mainland China.

ARTICLE II

PURCHASE AND SALE OF THE PURCHASED ASSETS

     Section 2.1 Purchase and Sale of the Purchased Assets. On the terms and subject to
the conditions set forth herein, at the Closing, Seller shall sell, convey, transfer, assign and
deliver, or cause to be sold, conveyed, transferred, assigned or delivered, to Purchaser, and
Purchaser shall purchase from Seller, good title to all right, title and interest of Seller in and
to the assets set forth on Annex A hereto, whether tangible or intangible, except for the Excluded
Assets, free and clear of any Encumbrances (other than Encumbrances that constitute Assumed
Liabilities) to which Purchaser would be subject following the Closing Date (the “Purchased
Assets”). In the event it is determined following the Closing that any asset that should have
been transferred to Purchaser in order for the representations and warranties of Seller in Section
3.2 to be true but was not, such asset shall also constitute Purchased Assets and shall be
transferred, without charge, to Purchaser. If, after the Closing Date, Seller, on the one hand, or
Purchaser, on the other hand (the “Receiving Party”), receives any funds which, pursuant to
the terms of this Agreement, belong to the other party (the “Entitlement Party”), the
Receiving Party shall hold such funds in trust for, and immediately pay over such funds to, the
Entitlement Party.

     Section 2.2 Excluded Assets. Notwithstanding any provision herein to the contrary,
the Purchased Assets shall exclude all assets and properties of Seller and any Affiliate of Seller
other than those assets and properties included in the definition of Purchased Assets (all such
assets herein referred to as the “Excluded Assets”), including, without limitation, the
assets listed on Annex B hereto.

     Section 2.3 Assumed Liabilities. On the terms and subject to the conditions set
forth herein, on the Closing Date, Purchaser shall deliver to Seller any required instruments of
assumption in form and substance reasonably satisfactory to Seller pursuant to which Purchaser
shall assume and agree to discharge (a) the Trade Accounts Payable as of the Closing Date and (b)
any Liability arising on or after the Closing Date in connection with the ownership of the
Purchased Assets by Purchaser or its Affiliates on or after the Closing Date (the “Assumed
Liabilities”).

     Section 2.4 Excluded Liabilities. The only Liabilities which Purchaser shall assume
and to which the Purchased Assets shall be subject are the Assumed Liabilities and all other
Liabilities shall be retained by Seller. For the avoidance of doubt, the Liabilities listed below
are excluded and shall not be assumed or discharged by Purchaser or its Affiliates and instead
shall be retained by Seller:

     (a) All Liabilities arising out of or relating to the Excluded Assets;

     (b) All Liabilities for Transfer Taxes imposed or assessed as a result of the transactions
effected pursuant to this Agreement;

     (c) All Liabilities of Seller with respect to any indebtedness for borrowed money;

6

 

ANNEX A

     (d) All Liabilities of Seller relating to claims for overcharges made or billed prior to the
Closing Date;

     (e) Any Liabilities or obligations of Seller under any Contract related to breaches by Seller
of its obligations thereunder occurring prior to the Closing Date;

     (f) All Liabilities of Seller or its Affiliates for indemnification of, or advancement of
expenses or payment of insurance proceeds to, any present or former director or officer of (or
other persons serving in a fiduciary capacity at the request of) of Seller or its Affiliates based
upon an actual or alleged breach of fiduciary duty of such person prior to the Closing Date;

     (g) All Liabilities of Seller or its Affiliates arising out of matters occurring, or
obligations incurred, after the Closing Date;

     (h) All Liabilities of Seller for any professional, financial advisory or consulting fees and
expenses incident to, or arising out of, the negotiation, preparation, approval or authorization of
this Agreement or the transactions contemplated hereby or any other proposed transaction for the
direct or indirect sale of the Transferred Business or any portion thereof or any Purchased Assets,
including, without limitation, the fees, expenses and disbursements of Seller’s counsel,
accountants, auditors and financial advisors;

     (i) All Liabilities arising out of, resulting from or relating to claims, whether founded upon
negligence, strict liability in tort or other similar legal theory, seeking compensation for or
relating to injury to person or damage to property arising out of the conduct of the Transferred
Business or ownership of the Purchased Assets prior to the Closing Date;

     (j) All Liabilities relating to any Environmental Law or the presence of, or exposure to, any
Hazardous Substance arising out of the ownership or operation of the Purchased Assets or the
Transferred Businesses prior to the Closing Date regardless of whether such Liabilities arise
before or after the Closing Date and including any circumstances or conditions that arise before
the Closing Date and continue through the Closing Date;

     (k) All Liabilities arising from the ownership or operation of assets or businesses other than
the Purchased Assets and the Transferred Business;

     (l) Any payment obligations of Seller for goods delivered or services rendered (other than the
Trade Accounts Payable);

     (m) All Liabilities with respect to any Persons at any time employed by Seller or its
Affiliates in connection with the operation or ownership of the Transferred Business or the
Purchased Assets, including, without limitation, all liabilities for severance pay, accrued
vacation, personal time off and sick pay, whether known or unknown, fixed or contingent, which
arise out of events occurring prior to employment of any of such Persons, if at all, by Purchaser;

     (n) All Liabilities arising from the ownership or operation of the Transferred Business or the
Purchased Assets prior to the Closing Date (including, without limitation, Liabilities for Taxes,
but excluding Assumed Liabilities);

     (o) All Liabilities arising out of Seller’s failure or alleged failure to comply with any law,
statute or order, or with any rule, regulation or policy of any Governmental Authority; and

     (p) All Liabilities described in Annex C.

7

 

ANNEX A

     Section 2.5 Purchase Price. On the terms and subject to the conditions set forth
herein, at the Closing, Purchaser agrees to pay to Seller the purchase price of RMB 144,544,400.00
(the “Purchase Price”).

     Section 2.6 Closing. The Closing shall take place at the offices of Seller, 6/F
Administrative Building, 1368 Wuzhong District, Suzhou, Jiangsu Province 215104, People’s Republic
of China at 3:00 p.m. Beijing time, on the date hereof or such other date as the Purchaser may
designate in writing. The date on which the Closing occurs is called the “Closing Date”.

     Section 2.7 Deliveries by Purchaser.

     (a) At the Closing, Purchaser shall deliver the following to Seller:

     (i) The Purchase Price in immediately available funds, which shall be paid by wire
transfer to the account designated in writing by the Seller;

     (ii) Such instruments of assumption and other instruments or documents, in form and
substance reasonably acceptable to Seller, as may be necessary to effect Purchaser’s
assumption of the Assumed Liabilities; and

     (iii) The certificates and other documents referred to in Section 7.2 to be delivered
by Purchaser.

     Section 2.8 Deliveries by Seller. At the Closing, Seller shall deliver to Purchaser
the following:

     (a) Bills of sale, assignments and any other customary instruments of sale and conveyance, in
form and substance reasonably acceptable to Purchaser, transferring to Purchaser all Purchased
Assets;

     (b) The Books and Records;

     (c) The certificates and other documents referred to in Section 9.1 to be delivered by Seller;

     (d) Such other instruments or documents, in form and substance reasonably acceptable to
Purchaser, as may be necessary to effect the Closing;

     (e) An Assignment and Assumption of Leases executed by Seller, assigning Seller’s right, title
and interest in the leases to the Real Property to Purchaser, the consent of landlords under the
leases for the Real Property and estoppel certificates executed by the lessors of the Real
Property, or any other similar documents required to effect the assignment and assumption of the
leases to the Real Property to Purchaser; and

     (f) Any transfer Tax forms required by law to be completed by Seller and the payment of any
Taxes imposed by law or this Agreement upon Seller.

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF SELLER

     Seller jointly and severally represents and warrants to Purchaser as follows:

     Section 3.1 Organization and Qualification. Seller is a corporation duly organized,
validly existing and in good standing under the laws of the Cayman Islands, and has all requisite
corporate power and authority to own and operate the Purchased Assets as currently owned and
operated by it. Seller is

8

 

ANNEX A

duly qualified to do business and is in good standing as a foreign corporation in each
jurisdiction where the ownership or operation of the Purchased Assets by it requires such
qualification.

     Section 3.2 Purchased Assets. The Purchased Assets are sufficient to enable
Purchaser immediately following the Closing to conduct the Transferred Business in substantially
the same manner as the Transferred Business has been operated by Seller in the past.

     Section 3.3 Corporate Authorization. Seller has the necessary corporate power and
authority to execute and deliver this Agreement and to perform its obligations hereunder. The
execution, delivery and performance by Seller of this Agreement has been duly and validly
authorized, and no additional corporate authorization or consent (including, without limitation,
any action by Seller’s shareholders) is required in connection with the execution, delivery and
performance by Seller of this Agreement.

     Section 3.4 Consents and Approvals. No Governmental Approvals are required to be
obtained by Seller, and no notice or filing is required to be given by Seller to, or made by Seller
with, any Governmental Authority or other Person in connection with the execution, delivery or
performance by Seller of this Agreement.

     Section 3.5 Non-Contravention. The execution, delivery and performance by Seller of
this Agreement, and the consummation of the transactions contemplated hereby, do not and will not:
(a) violate any provision of the articles of incorporation, by-laws or other organizational
documents of Seller, (b) conflict with, or result in the breach of, or constitute a default under,
or result in the termination, cancellation or acceleration (whether after the filing of notice or
the lapse of time or both) of any right or obligation of Seller under, or to a loss of any benefit
to which Seller is entitled under, any Contract or result in the creation of any Encumbrance upon
any of the Purchased Assets that will not be discharged in full on or prior to the Closing or (c)
assuming the consents, approvals, waivers, authorizations, notices and filings set forth in Section
4.3 are obtained, given or made, violate, result in a breach of or constitute a default under any
Law.

     Section 3.6 Binding Effect. This Agreement constitutes a valid and legally binding
obligation of Seller enforceable in accordance with its terms, subject in the case of Seller’s
obligation to transfer the Purchased Assets, to obtaining, giving or making the consents,
approvals, waivers, authorizations, notices and filings set forth in Section 4.3.

     Section 3.7 Litigation and Claims.

     (a) There is no civil, criminal or administrative action, suit, demand, claim, hearing,
arbitration proceeding or investigation pending or, to the Knowledge of Seller, threatened,
involving Seller or the Purchased Assets, before any arbitration tribunal, domestic or foreign, or
before any Governmental Authority.

     (b) Seller has not been charged with, nor to the Knowledge of Seller, is Seller under
investigation with respect to, any violation of any provision of any Law with respect to the
Purchased Assets or the conduct of the Transferred Business.

     (c) None of the Purchased Assets or Seller is subject to any order, writ, judgment, award,
injunction or decree of any court or Governmental Authority of competent jurisdiction or any
arbitrator or arbitrators.

9

 

ANNEX A

     Section 3.8 Property, Equipment and Other Purchased Assets.

     (a) Except for this Agreement, Seller is not obligated under or a party to any option, right
of first refusal or other contractual right to sell, lease or dispose of the Purchased Assets or
any portion thereof or interest therein.

     (b) Seller has good title to the Purchased Assets purported to be owned by it, free and clear
of any Encumbrances (other than Encumbrances that would constitute Assumed Liabilities) to which
Purchaser or such Purchased Assets would be subject following the Closing Date. All material
assets included in the Purchased Assets are in good and working condition for use in the ordinary
course consistent with Seller’s past practice, and Seller has performed regular maintenance on the
Purchased Assets owned by it in accordance with Seller’s past practice.

     Section 3.9 Intellectual Property.

     (a) Seller exclusively owns (beneficially, and of record where applicable) all Transferred
Intellectual Property, free and clear of all Encumbrances. The Transferred Intellectual Property
is valid, subsisting and enforceable, and is not subject to any outstanding order, judgment, decree
or agreement adversely affecting Seller’s use thereof or their rights thereto. Seller has
sufficient rights to use all Intellectual Property used in the Transferred Business as presently
conducted and to be used in the Transferred Business as proposed to be conducted, all of which
rights shall survive unchanged the consummation of the transactions contemplated by this Agreement.
To the Knowledge of Seller, no person is violating any Transferred Intellectual Property right or
other Intellectual Property right that Seller holds exclusively.

     (b) Each Intellectual Property Contract is legal, valid, binding and enforceable against the
other party, and is in full force and effect, subject to applicable bankruptcy and insolvency laws
and general principles of equity, and will continue to be so immediately following the consummation
of the transactions contemplated by this Agreement. No claim has been threatened or asserted that
Seller or, to the Knowledge of Seller, any other Person, has breached any Intellectual Property
Contract. There exists no event, condition or occurrence that, with the giving of notice or lapse
of time, or both, would constitute a breach or default by Seller or, to the Knowledge of Seller,
any other Person under any Intellectual Property Contract. No party to any Intellectual Property
Contract has given Seller notice of its intention to cancel, terminate, change the scope of rights
under, or fail to renew any Intellectual Property Contract. Neither Seller, nor to the Knowledge
of Seller, any other party to any Intellectual Property Contract, has repudiated in writing any
material provision thereof. To the extent that Licensed Intellectual Property is sublicensed to
Seller by a third person, Seller’s sublicensed rights shall continue in full force and effect even
if the principal third person license terminates for any reason. Consummation of the transactions
contemplated by this Agreement will not place Seller in breach or default of any Intellectual
Property Contract, or trigger any modification, termination or acceleration thereunder, or effect
any license under or encumbrance on Intellectual Property. To the Knowledge of Seller, the
Licensed Intellectual Property is valid, subsisting and enforceable and is not subject to any
outstanding order, judgment, decree or agreement adversely affecting Seller’s use thereof or its
rights thereto.

     (c) There is no litigation, opposition, cancellation, proceeding, objection or claim pending,
asserted or threatened against Seller, or to the Knowledge of Seller, any other Person, concerning
the ownership, validity, registerability, enforceability, infringement, use or licensed right to
use any Intellectual Property now or previously used in the Transferred Business. To the Knowledge
of Seller, no valid basis for any such litigation, opposition, cancellation, proceeding, objection
or claim exists.

     (d) Seller’s ownership, manufacture, use, operation and sale of Purchased Assets do not
violate and have not during the five years immediately preceding the date of this Agreement
violated any Intellectual Property rights of any Person.

10

 

ANNEX A

     (e) Seller owns exclusively and possesses legally enforceable rights to use all of the
Transferred Intellectual Property.

     (f) The IT Assets operate and perform in all material respects in accordance with their
documentation and functional specifications and otherwise as required by Seller in connection with
the Transferred Business, and have not materially malfunctioned or failed within the past three
years. The IT Assets do not contain any “time bombs,” “Trojan horses,” “back doors,” “trap doors,”
“worms,” viruses, bugs, faults or other devices or effects that (i) enable or assist any person to
access without authorization the IT Assets or (ii) otherwise significantly adversely affect the
functionality of the IT Assets, except as disclosed in its documentation. To the Knowledge of
Seller, no person has gained unauthorized access to the IT Assets. Seller has implemented
reasonable backup and disaster recover technology consistent with industry practices. To the
Knowledge of Seller, none of the IT Assets contains any shareware, open source code, or other
software whose use requires disclosure or licensing of Intellectual Property.

     (g) Seller has taken all reasonable measures to protect the secrecy, confidentiality and value
of all Trade Secrets that are owned, used or held by either of Seller, and to the Knowledge of
Seller, such Trade Secrets have not been used by, disclosed to or discovered by any person except
pursuant to valid and appropriate non-disclosure and/or license agreements and those agreements
have not been breached. To the Knowledge of Seller, none of Seller’s current employees has any
patents issued or applications pending for any device, process, design or invention of any kind now
used or needed by Seller in the furtherance of the Transferred Business, which patents or
applications have not been assigned to Seller. All of Seller’s current and prior employees have
executed valid intellectual property and confidentiality agreements for the benefit of Seller. To
the Knowledge of Seller, Seller’s employees’ performance of their employment activities does not
violate any third party’s Intellectual Property rights or such employee’s contractual obligations
to any third person.

     Section 3.10 Certain Contracts.

     (a) Schedule 3.10 contains a list of all Contracts in existence as of the date hereof included
among the Purchased Assets including, without limitation, distributorship, wholesaler or group
purchasing agreements and (ii) Contracts between Seller and its suppliers or customers.

     (b) Except as set forth in Schedule 3.10, each of the Contracts listed in Schedule 3.10 is
valid, binding and enforceable against Seller and the other parties thereto in accordance with its
terms, and in full force and effect, subject, in the case of enforceability against the other
parties thereto, to bankruptcy, reorganization, insolvency, moratorium or similar Laws relating to
such other parties which affect creditors’ rights generally and by legal and equitable limitations
on the enforceability of equitable remedies as might apply to the other parties thereto. Except as
set forth in Schedule 3.10, Seller has performed all material obligations required to be performed
by Seller under each Contract listed in Schedule 3.10. Except as set forth in Schedule 3.10,
neither Seller nor any other party thereto is in default under any Contract listed in Schedule 3.10
(and no event has occurred which, with due notice or lapse of time or both, would constitute such a
lapse or default by Seller or any other party thereto) and no event has occurred or failed to occur
that would adversely affect a Seller’s rights thereunder.

     (c) Except as set forth in Schedule 3.10, none of the Contracts bind or purport to bind any
Affiliate of Seller.

     (d) Except for this Agreement, Seller is not a party to any Contract limiting the freedom of
any of Seller or any of their Affiliates to engage in any line of business or to compete with any
Person.

11

 

ANNEX A

     Section 3.11 Compliance with Laws.

     (a) The Purchased Assets have been at all relevant times, and are being, operated in
substantial compliance with all applicable Laws.

     (b) Seller has complied in all respects with all Regulatory Requirements applicable to, and
with the terms and conditions of, the Governmental Authorizations.

     Section 3.12 Governmental Authorizations. Seller has obtained validly existing
material Governmental Authorizations (including, without limitation, Environmental Permits)
Related to the Purchased Assets or to the current use of the Purchased Assets. Seller has all
Governmental Authorizations necessary for the lawful operation of the Transferred Business and the
Purchased Assets as currently operated and there is no action pending, nor, to the Knowledge of
Seller, threatened, before any Governmental Authority to revoke, refuse to renew, suspend or modify
any of the Governmental Authorizations, or any action which is reasonably likely to result in the
denial of any pending applications of Seller. Seller has not received notice from any Governmental
Authority to the effect that any additional Governmental Authorizations are required for such
operation, and no Governmental Authorizations are required but which have not been obtained. By
reason of the consummation of the transactions contemplated by this Agreement, subject to the
receipt of Governmental Approvals and entry of the Sale Order: (a) none of the rights of Seller
under such Governmental Authorizations will be impaired and (b) all of the rights of Seller under
such Governmental Authorizations will be enforceable by Purchaser without the consent or agreement
of any party other than those obtained by Seller prior to the Closing.

     Section 3.13 Collective Bargaining Agreements. Seller is not a party to or bound by
any labor agreement or collective bargaining agreement with respect to its employees, and there is
not any pending, or threatened, strike, walkout or other work stoppage or any union organizing
effort by or respecting its employees.

     Section 3.14 Transactions with Affiliates.

     (a) Other than transactions between Seller and Purchaser, between Seller and LDKNE Holding,
and between Seller and Seller’s sole shareholder, Mr. Xiaofeng Peng, there have been no
transactions, agreements, arrangements or understandings between either of Seller, on the one hand,
and any of their respective Affiliates, on the other hand, that would be required to be disclosed
under Item 404 of Regulation S-K under the Securities Act of 1933 (except for amounts due as normal
salaries and bonuses and in reimbursements of ordinary expenses).

     (b) (i) No officer or director of Seller owns, directly or indirectly, any interest in
(excepting securities in Purchaser and not more than one percent stock holdings for investment
purposes in securities of publicly-held and traded companies) or is an officer, director, employee
or consultant of any Person (other than Purchaser or LDKNE Holding) which is a competitor, lessor,
lessee, customer or supplier of Seller, and (ii) no officer or director of Seller (A) owns,
directly or indirectly, in whole or in part, any of the Intellectual Property that is used in
connection with the operation or administration of the Transferred Business, (B) has asserted any
claim, charge, action or cause of action against either of Seller, except for immaterial claims for
accrued vacation pay, accrued benefits under any compensation and benefit plans and similar matters
and agreements existing on the date hereof, and Seller has no knowledge of any basis for such
claims, charges, actions or causes of action, (C) has made, on behalf of Seller, any payment or
commitment to pay any commission, fee or other amount to, or to purchase or obtain or otherwise
contract to purchase or obtain any goods or services from, any other Person (other than Purchaser
or LDKNE Holding) of which any officer or director of Seller, or, to the Knowledge of Seller, a
relative of any of the foregoing, is a partner or stockholder (except stock holdings solely for
investment purposes in securities of publicly-held and traded companies), or (D) owes any money to
Seller (except for reimbursement of travel, lodging and entertainment expenses in the ordinary
course of business consistent with past practice).

12

 

ANNEX A

     Section 3.15 Accuracy of Copies. The copies of documents delivered or made available
by any of Seller to Purchaser pursuant to the terms of this Agreement are complete and accurate in
all material respects.

     Section 3.16 Financial and Business Information. The Annexes and Schedules to this
Agreement do not contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements made therein not misleading.

     Section 3.17 Environmental Matters. (i) The Purchased Assets have complied at all
times with all applicable Environmental Laws; (ii) the Purchased Assets (including soils,
groundwater, surface water, buildings or other structures) have not been contaminated with any
Hazardous Substance which could reasonably be expected to require remediation pursuant to any
Environmental Law; (iii) no property adjacent to the Purchased Assets has been contaminated with
any Hazardous Substance which contamination could reasonably be expected to require investigation
or remediation on the Purchased Assets pursuant to any Environmental Law; (iv) Seller is not liable
for any Hazardous Substance disposal or contamination on any third party property relating to the
ownership or operation of the Purchased Assets; (v) Seller has not received any notice, demand,
letter, claim or request for information alleging that the Purchased Assets may be in violation of
or subject to liability under any Environmental Law; (vi) the Purchased Assets are not subject to
any order, decree, injunction, indemnity or other agreement with any Government Authority or any
third party relating to liability under any Environmental Law or relating to Hazardous Substances;
(vii) there are no other circumstances or conditions involving the Purchased Assets that could
reasonably be expected to result in any claim, liability, investigation, cost or restriction on the
ownership, use or transfer of any property pursuant to any Environmental Law; and (viii) Seller has
made available to Purchaser copies of all material environmental reports, studies, assessments,
sampling data and other environmental documents in their possession relating to the Purchased
Assets.

     Section 3.18 Real Property.

     (a) Schedule 3.18 sets forth a complete schedule of all leased property included among the
Purchased Assets (the “Real Property”). Seller has furnished to Purchaser a true and
complete description of the applicable leases and all amendments, and other documents affecting the
obligations of the parties thereto. Seller has furnished to Purchaser complete and accurate copies
of the lease agreements relating to each such property. All such leases (i) are valid, binding and
enforceable in accordance with their terms, (ii) are in full force and effect and there are no
existing defaults by Seller thereunder and no event of default has occurred which (whether with or
without notice, lapse of time or the happening or occurrence of any other event) would constitute a
default thereunder and (iii) were negotiated on an arms’ length basis and are renewable on the same
or substantially similar terms.

     (b) The major structural elements of the improvements on the Real Property, including, without
limitation, the roof, mechanical, electrical, heating, ventilating and air conditioning systems and
plumbing systems, are in good working order.

     (c) The present improvements located on and the present use of the Real Property do not
violate any zoning, or similar land use law, regulation, ordinance, permit or order.

     (d) There are no actions or proceedings pending, or to the Knowledge of Seller, threatened
against or relating to the ownership, use, possession or operation of the Real Property, including,
without limitation, actions for condemnation of any part thereof.

     Section 3.19 Advisors’ Fees. Neither Seller nor its officers, directors or employees
have employed any broker or finder or incurred any liability for any brokerage fees, commissions or
finders’ fees or consultants or advisors’ fees in connection with the transactions contemplated by
this Agreement.

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ANNEX A

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF PURCHASER

     Purchaser represents and warrants to Seller as follows:

     Section 4.1 Organization and Qualification. Purchaser is a corporation duly
organized, validly existing and in good standing under the laws of the State of Delaware and has
all requisite corporate or similar power and authority to own and operate its properties and assets
and to carry on its business as presently conducted and is qualified to do business and is in good
standing as a foreign corporation in each jurisdiction where the ownership or operation of its
assets or properties or conduct of its business requires such qualification.

     Section 4.2 Corporate Authorization. Purchaser has the necessary corporate power and
authority to execute and deliver this Agreement and to perform its obligations hereunder. The
execution, delivery and performance by Purchaser of this Agreement has been duly and validly
authorized, and no additional corporate authorization or consent (including, without limitation,
any action by Purchaser’s shareholders) is required in connection with the execution, delivery and
performance by Purchaser of this Agreement.

     Section 4.3 Consents and Approvals. Except for such Governmental Approvals where the
failure to obtain such Governmental Approval or to provide such notice to or make such filing with
a Governmental Authority would not, individually or in the aggregate, have a material adverse
effect on Purchaser’s ability to consummate the transactions contemplated hereby, no Governmental
Approval is required to be obtained by Purchaser from, and no notice or filing is required to be
given by Purchaser to or with, any Governmental Authority or other Person in connection with the
execution, delivery or performance by Purchaser of this Agreement.

     Section 4.4 Non-Contravention. The execution, delivery and performance by Purchaser
of this Agreement, and the consummation of the transactions contemplated hereby do not and will not
(a) violate any provision of the certificate of incorporation or bylaws of Purchaser or (b)
assuming the consents, approvals, waivers, authorizations, notices and filings set forth in Section
4.3 are obtained or given or made, violate or result in a breach of or constitute a default under
any Law or any contract, arrangement or agreement to which Purchaser is subject, except for such
violations, conflicts and breaches as in the aggregate will not have a material adverse effect on
Purchaser’s ability to close the transactions contemplated hereby.

     Section 4.5 Binding Effect. This Agreement constitutes a valid and binding
obligation of Purchaser enforceable in accordance with its terms, subject to bankruptcy,
insolvency, liquidation, amalgamation, fraudulent transfer, reorganization, moratorium and similar
Laws of general applicability relating to or affecting creditors’ rights and to general equity
principles.

ARTICLE V

CERTAIN COVENANTS

     Section 5.1 Access. Prior to the Closing, Seller shall permit Purchaser, its
Affiliates and their representatives to have reasonable access, during regular business hours and
upon reasonable advance notice, to the Books and Records and to the Purchased Assets and personnel
who work with the Purchased Assets, and shall furnish, or cause to be furnished, to Purchaser, any
data and other information that is reasonably available with respect to the Purchased Assets as
Purchaser shall from time to time reasonably request. Seller shall instruct its accountants and
advisers to cooperate with Purchaser, its Affiliates and their representatives and to provide
Purchaser, its Affiliates and their representatives with reasonable access to such accountants
(including their data and work papers, subject to Purchaser, its Affiliates and their
representatives complying with any confidentiality, limitation of liability and other requirements
of the

14

 

ANNEX A

accountants with respect to access to their work papers) and advisers. Seller shall use Best
Reasonable Efforts to facilitate meetings between Purchaser and customers of Seller designated by
Purchaser. Seller

     Section 5.2 Conduct of Business.

     (a) During the period from the date hereof to the Closing Date, except as otherwise
contemplated by this Agreement or as Purchaser shall otherwise agree in writing in advance, Seller
shall use its Best Reasonable Efforts to conduct the Transferred Business and operate the Purchased
Assets in the ordinary and usual course, to preserve intact all business and relationships with
third parties Related to the Transferred Business and keep available their present employees whose
primary responsibilities are Related to the Transferred Business. During the period from the date
hereof to the Closing Date, except as otherwise provided for in this Agreement or as Purchaser
shall otherwise consent, Seller covenants and agrees that, with respect to the operation of the
Purchased Assets, it shall use its Best Reasonable Efforts to:

     (i) maintain the Purchased Assets in accordance with Seller’s past practice and not
remove any equipment included in the Purchased Assets, except for replacements,
modifications or maintenance in the ordinary course of business;

     (ii) operate the Purchased Assets in accordance with applicable Law, including
applicable Regulatory Requirements;

     (iii) deliver to Purchaser, promptly after filing, copies of any reports, applications
or responses to any Governmental Authority or any communications from any Governmental
Authority or any other party directed to any Governmental Authority related to the
Purchased Assets which are filed between the date of this Agreement and the Closing Date;

     (iv) promptly and fully cure all violations of Law and Regulatory Requirements that
relate to the Transferred Business and pay any fines which may be assessed by any
Governmental Authority for any such violation when such fines are ultimately due;

     (v) continue to address quality concerns in accordance with any undertakings or
commitments made by Seller to, or agreed by any of Seller with any Governmental Authority;

     (vi) maintain all product registrations and all applicable licenses;

     (vii) perform on a timely basis all obligations required to be performed by them under
all Contracts according to their respective terms and provide prior notice of renewal or a
decision not to renew such agreement;

     (viii) continue pricing, marketing and sales practices consistent with past practices
and applicable market conditions;

     (ix) perform on a timely basis all obligations required to be performed under Seller’s
employee benefit plans and policies and all other obligations to employees; and

     (x) furnish to Purchaser (A) not later than two Business Days prior to the execution
by Seller of any Contract, written notice of the proposed execution of such Contract and a
copy thereof, and (B) furnish to Purchaser, as promptly as practicable after the execution
of any such Contract, a copy of the executed version thereof;

     and it shall not with respect to the Purchased Assets:

     (xi) incur any Trade Accounts Payable other than Trade Accounts Payable in the
ordinary course of business consistent with the recent past practice of the Transferred
Business.

15

 

     (xii) incur, create or assume any Encumbrance upon any of the Purchased Assets that
will not be discharged on or prior to the Closing Date;

     (xiii) incur any indebtedness for money borrowed which would be an Assumed Liability;

     (xiv) take any action or enter into any transaction that would adversely affect in any
material respect Purchaser’s ability to operate the Transferred Business as presently
operated;

     (xv) enter into any material transaction Related to the Purchased Assets, except in
the ordinary course of business consistent with the past practice of the Transferred
Business;

     (xvi) modify, terminate, amend or grant any waiver in respect of any Contract;

     (xvii) take any action that would cause any of the representations and warranties made
by Seller in this Agreement not to be true and correct;

     (xviii) grant to any Person, or abandon, allow to lapse or encumber any interests or
rights in any Transferred Intellectual Property;

     (xix) enter into any Contract that contains (A) a restriction on Seller’s ability to
assign or otherwise transfer such agreement to Purchaser or any of its Affiliates and (B)
any provision that provides for a change in any material term as a result of the assignment
or other transfer of such agreement by any of Seller to Purchaser or any of its Affiliates;

     (xx) dispose of, sell or otherwise transfer any of the Purchased Assets other than the
sale of inventory in the ordinary course of business consistent with the recent past
practice of the Transferred Business; or

     (xxi) agree, in writing or otherwise, to do any of the foregoing.

     Section 5.3 Best Reasonable Efforts. During the period from the date hereof to the
Closing Date, Seller shall cooperate with Purchaser and use their Best Reasonable Efforts to
satisfy, or cause to be satisfied, the conditions precedent to Purchaser’s obligations hereunder.
Without limiting the generality of the foregoing, Seller shall cooperate with Purchaser and use its
Best Reasonable Efforts (a) to obtain any required Governmental Approvals and to give or make the
notices and filings and (b) to obtain the approvals and consents and give the notices required in
respect of the Contracts designated in Schedule 3.10 as requiring such action.

     Section 5.4 Insurance.

     (a) Schedule 5.4 sets forth a list of all policies of insurance maintained, owned or held by
Seller on the date hereof with respect to the Purchased Assets or the Transferred Business included
among the Purchased Assets. Seller shall keep or cause such insurance to be kept in full force and
effect through the Closing Date. Seller has complied with each of such insurance policies and has
not failed to give any notice or present any claim thereunder in a due and timely manner. Seller
has delivered to Purchaser correct and complete copies of the most recent inspection reports, if
any, received from insurance underwriters as to the condition of the Purchased Assets.

     Section 5.5 Accounting Access. Commencing on the date hereof and for a period of
three years from the Closing Date, Seller shall provide Purchaser with reasonable access to its
personnel and independent accountants and advisors, and to the data and work papers (subject to
Purchaser complying with any confidentiality, limitation of liability and other requirements of the
accountants with respect to

16

 

ANNEX A

access to their work papers) that are Related to the Purchased Assets, but are not otherwise
available to Purchaser, which are reasonably required to enable Purchaser to comply with any
applicable Laws.

     Section 5.6 Compliance with Property Transfer Laws; State and Local Governmental
Authorizations.

     (a) During the period from the date hereof to the Closing Date, Seller shall use its Best
Reasonable Efforts to comply with all requirements of applicable property transfer Laws in order to
consummate the transactions contemplated by this Agreement. During the period from the date hereof
to the Closing Date, Seller agrees to provide Purchaser with any documents to be submitted to the
relevant Governmental Authorities prior to submission, and no Seller shall take any action to
comply with such Laws without Purchaser’s prior consent, which consent shall not be unreasonably
withheld or delayed.

     (b) During the period from the date hereof to the Closing Date, Seller shall cooperate with
Purchaser and shall assist Purchaser with identifying the state and local Governmental
Authorizations, if any, required by Purchaser to operate the Purchased Assets from and after the
Closing Date (other than Governmental Approvals).

     Section 5.7 Further Assurances. At any time after the Closing Date, Seller shall
promptly execute, acknowledge and deliver any other assurances or documents reasonably requested by
Purchaser necessary to evidence the transfer of the Purchased Assets or the other transactions
contemplated hereby.

     Section 5.8 Certain Matters Involving the Transferred Intellectual Property and Licensed
Intellectual Property. On or promptly after the Closing Date, Seller shall use Best Reasonable
Efforts to assist Purchaser with all necessary steps to record with the appropriate Governmental
Authorities, including any discretionary filings requested by Purchaser, the transfer from, or
license by, Seller to Purchaser of all Transferred Intellectual Property and Licensed Intellectual
Property previously Registered in or outside the United States.

     Section 5.9 Obligation to Update. Between the date of this Agreement and the Closing
Date, Seller shall notify Purchaser in writing within a reasonable period of time Seller gains
actual knowledge of any fact or condition that causes or constitutes a breach of any of Seller’s
representations and warranties as of the date of this Agreement, or if Seller gains actual
knowledge of the occurrence after the date of this Agreement of any fact or condition that could
reasonably be expected to cause or constitute a breach of any such representation or warranty had
such representation or warranty been made as of the time of occurrence or discovery of such fact or
condition. At least three Business Days prior to the Closing Date, Seller shall provide Purchaser
with a list of any changes that would be required to Schedule 3.10 if such Schedule were being
prepared in response to Section 3.10(a) as of the third Business Day prior to the Closing Date.
Any breach of this Section 5.9 shall for purposes of Article VII be deemed to be a breach of a
representation or warranty and not a breach of a covenant. The providing of notice under this
Section shall not relieve Seller of any responsibility for a breach of the relevant representation
or warranty nor shall such notice be deemed to update any Schedule to this Agreement.

     Section 5.10 Additional Intellectual Property Matters.

     (a) No Seller shall bring any claim, litigation or proceeding against Purchaser or its
Affiliates (including any of Purchaser’s Successors or assigns to any significant portion of the
Purchased Assets) for infringement or other violation of any Intellectual Property rights,
including patents and trademarks, owned by or assigned to a Seller as of the Closing, based on the
operation of the Purchased Assets.

     (b) Each of Seller hereby grants to Purchaser an irrevocable, perpetual, non-exclusive,
transferable and sublicensable license to all Intellectual Property items owned by Sellers which
are not part of the Purchased Assets and which are not explicitly identified as Excluded Assets
(the “Retained

17

 

ANNEX A

Intellectual Property”), for use in connection with the Purchased Assets and the
Transferred Business, as they exist now and may exist in the future.

     Section 5.11 Tax Matters.

     (a) Seller shall be liable for and shall pay all Taxes (whether assessed or unassessed)
applicable to the Transferred Business, Purchased Assets and Assumed Liabilities, in each case
attributable to periods (or portions thereof) ending on or prior to the Closing Date. Purchaser
shall be liable for and shall pay all Taxes (whether assessed or unassessed) applicable to the
Transferred Business, Purchased Assets and Assumed Liabilities, in each case attributable to
periods (or portions thereof) beginning after the Closing Date. For purposes of this paragraph
(a), any period beginning before and ending after the Closing Date shall be treated as two partial
periods, one ending on the Closing Date and the other beginning after the Closing Date.

     (b) Notwithstanding Section 5.11(a), any sales Tax, use Tax, documentary stamp Tax or similar
Tax attributable to the sale or transfer of the Transferred Business, Purchased Assets and Assumed
Liabilities shall be paid by Seller. Purchaser agrees to timely sign and deliver such certificates
or forms as may be necessary or appropriate to establish an exemption from (or otherwise reduce),
or make a report with respect to, such Taxes; provided that such action by Purchaser does not cause
or would not be reasonably likely to cause Purchaser to incur tax liability in connection
therewith.

     (c) Seller shall provide reimbursement for any Tax paid by Purchaser all or a portion of which
is the responsibility of Seller in accordance with the terms of this Section 5.11. Within a
reasonable time prior to the payment of any said Tax, Purchaser shall give notice to Seller of the
Tax payable and the portion which is the liability of Seller, although failure to do so will not
relieve Seller from its liability hereunder.

     Section 5.12 Regulatory Approvals.

     (a) Purchaser and Seller shall cooperate with each other and use their Best Reasonable Efforts
to obtain all Government Approvals and to comply with the terms and conditions of all such
Governmental Approvals. Purchaser and Seller shall use their Best Reasonable Efforts to, and shall
use their Best Reasonable Efforts to cause their respective officers, directors, employees and
Affiliates to, file within three days after the date hereof, and in all events shall file within
seven days after the date hereof, all required initial applications and documents in connection
with obtaining the Governmental Approvals and shall act reasonably and promptly thereafter in
responding to additional requests in connection therewith. Purchaser and Seller shall have the
right to review in advance, and to the extent practicable, each will consult the other on, in each
case subject to applicable laws relating to the exchange of information, all the information
relating to Purchaser or Seller, as the case may be, and any of their respective Subsidiaries,
directors, officers, employees and stockholders which appears in any filing made with, or written
materials submitted to, any third party or any Governmental Authority in connection with the
transactions contemplated by this Agreement. Without limiting the foregoing, each of Purchaser and
Seller (the “Notifying Party”) will notify the other promptly of the receipt of comments or
requests from Governmental Authorities relating to Governmental Approvals, and will supply the
other parties with copies of all correspondence between the Notifying Party or any of its
representatives and Governmental Authorities with respect to Governmental Approvals.

     (b) Purchaser and Seller shall promptly advise each other upon receiving any communication
from any Governmental Authority whose consent or approval is required for consummation of the
transactions contemplated by this Agreement which causes such party to believe that there is a
reasonable likelihood that any approval needed from a Governmental Authority will not be obtained
or that the receipt of any such approval will be materially delayed. Purchaser and Seller shall
take any and all actions reasonably necessary to vigorously defend, lift, mitigate and rescind the
effect of any litigation or administrative proceeding adversely affecting this Agreement or the
transactions contemplated hereby or

18

 

ANNEX A

thereby, including, without limitation, promptly appealing any adverse court or administrative
order or injunction to the extent reasonably necessary for the foregoing purposes.

     (c) Nothing in this Section 5.12 shall require, or be construed to require, Purchaser to sell
or hold separate, or to proffer to or agree to sell or hold separate, before or after the Closing
Date, any assets, businesses or interest(s) in any assets or businesses of Purchaser, Seller or any
of their respective Affiliates (or to consent to any sale, or agreement to sell, by Seller of any
assets or businesses of Seller or any of its Subsidiaries), or to agree to any material changes or
restriction in the operation of any such assets or businesses, or to cease or refrain from any
association with any person or entity.

     Section 5.13 Non-Competition. In furtherance of the sale of the Purchased Assets and
the Transferred Business to Purchaser hereunder by virtue of the transactions contemplated hereby
and more effectively to protect the value and goodwill of the Purchased Assets and the Transferred
Business so sold, Seller covenants and agrees that it will not: (a) engage, directly or indirectly
in any solar module business in competition with the Transferred Business as it exists on the
Closing Date; or (b) induce or attempt to persuade any employee, agent or customer of the
Transferred Business as of the Closing Date to terminate such employment, agency or business
relationship in order to enter into any such relationship on behalf of any other business
organization in competition with the Transferred Business.

ARTICLE VI

PURCHASER’S COVENANTS

     Section 6.1 Best Reasonable Efforts. During the period from the date hereof to the
Closing Date, Purchaser shall cooperate with Seller and use its Best Reasonable Efforts to satisfy,
or cause to be satisfied, the conditions precedent to Purchaser’s obligations hereunder. Without
limiting the generality of the foregoing, during the period from the date hereof to the Closing
Date, Purchaser shall cooperate with Seller and use its Best Reasonable Efforts to obtain the
Governmental Approvals and to give or make the necessary notices or filings.

     Section 6.2 Further Assurances. At any time after the Closing Date, Purchaser shall
promptly execute, acknowledge and deliver any other assurances or documents reasonably requested by
Seller necessary to evidence the transfer of the Purchased Assets, the assumption of the Assumed
Liabilities and the other transactions contemplated hereby.

     Section 6.3 Compliance with Property Transfer Laws; Governmental Authorizations.
During the period from the date hereof to the Closing Date, Purchaser shall use its Best Reasonable
Efforts to comply with all requirements of applicable property transfer Laws to the extent not
superseded by the Sale Order in order to consummate the transactions contemplated by this
Agreement. During the period from the date hereof to the Closing Date, Purchaser agrees to provide
Seller with copies of any documents submitted to the relevant Governmental Authorities in
connection with such compliance, and Purchaser shall not take any action to comply with such Laws
without Seller’s consent which shall not be unreasonably withheld.

     Section 6.4 Obligation to Update. During the period from the date hereof to the
Closing Date, Purchaser shall notify Seller in writing within a reasonable period of time if
Purchaser gains actual knowledge of any fact or condition that causes or constitutes a breach of
any of Purchaser’s representations and warranties as of the date of this Agreement, or if Purchaser
gains actual knowledge (in the ordinary course of performing his or her duties) of the occurrence
after the date of this Agreement of any fact or condition that would reasonably be expected to
cause or constitute a breach of any such representation or warranty had such representation or
warranty been made as of the time of occurrence or discovery of such fact or condition. The
providing of notice under this Section 6.4 shall not relieve Purchaser of any responsibility for a
breach of the relevant representation or warranty.

19

 

ANNEX A

ARTICLE VII

CONDITIONS TO CLOSING

     Section 7.1 Conditions to the Obligations of Purchaser. The obligation of Purchaser
to effect the Closing is subject to the satisfaction (or waiver) on or prior to the Closing Date of
the following conditions:

     (a) Representations and Warranties True When Made. The representations and warranties
of Seller contained herein shall have been true and correct when made, except where the failure of
such representations and warranties to be true and correct would not constitute a Material Adverse
Change. Purchaser shall have received a certificate to such effect dated the Closing Date and
executed by a duly authorized officer of Seller.

     (b) Covenants. The covenants and agreements of Seller to be performed on or prior to
the Closing Date shall have been duly performed in all material respects, and Purchaser shall have
received a certificate to such effect dated the Closing Date and executed by a duly authorized
officer of Seller.

     (c) Representations and Warranties True as of the Closing Date. The representations
and warranties of Seller contained herein shall be true and correct as of the Closing Date and
shall be deemed to be remade by Seller on that date (except that representations made as of a
specific date need be only true and correct as of such date), except where the failure of such
representations and warranties to be true and correct would not constitute a Material Adverse
Change. Purchaser shall have received a certificate to such effect dated the Closing Date and
executed by a duly authorized officer of Seller.

     (d) Assignments and Novations. Purchaser shall have received an assignment or
novation (including any necessary third-party consents and approvals) reasonably satisfactory to
Purchaser to each of the Contracts identified in Annex A.

     (e) No Injunctions or Proceedings. No temporary restraining order, preliminary or
permanent injunction or other order of any court of competent jurisdiction or other legal restraint
or prohibition preventing, restricting or conditioning the consummation of the transactions
contemplated by this Agreement shall be in effect. No litigation, investigation or administrative
proceeding, in each case brought or initiated by a Governmental Authority, shall be pending or
threatened that would enjoin, restrain, condition or prohibit consummation of the transactions
contemplated by this Agreement. No Governmental Authority of competent jurisdiction shall have
enacted, issued, promulgated, enforced or entered any statute, rule, regulation, sanction,
judgment, decree, injunction or other order which would be reasonably likely to have a Material
Adverse Effect prior or subsequent to the Closing.

     (f) Other Instruments and Documents. Such other instruments and documents as are (i)
required by any other provisions of this Agreement or (ii) reasonably necessary, in the opinion of
Purchaser, to effect the performance of this Agreement by Seller.

     (g) Other Approvals. Any other Governmental Approvals, notices and filings as may be
required shall have been obtained, given or made and shall not contain any condition or provision
that would constitute a Material Adverse Change.

     (h) Delivery of Other Closing Documents. Seller shall have executed and delivered all
of the documents required to be delivered pursuant to Section 2.8.

     Section 7.2 Conditions to the Obligations of Seller. The obligation of Seller to
effect the Closing is subject to the satisfaction (or waiver) on or prior to the Closing Date of
the following conditions:

20

 

ANNEX A

     (a) Representations and Warranties True When Made. The representations and warranties
of Purchaser contained herein shall have been true and correct when made except where the failure
of such representations and warranties to be true and correct would not constitute a material
adverse effect on Purchaser’s performance of its obligations hereunder. Seller shall have received
a certificate to such effect dated the Closing Date and executed by duly authorized officers of
Purchaser.

     (b) Covenants. The covenants and agreements of Purchaser to be performed on or prior
to the Closing Date shall have been duly performed in all material respects and Seller shall have
received a certificate to such effect dated the Closing Date and executed by duly authorized
officers of Purchaser.

     (c) Representations and Warranties True as of the Closing Date. The representations
and warranties of Purchaser contained herein shall be true and correct as of the Closing Date and
shall be deemed to be remade by Purchaser on that date (except that representations and warranties
that are made as of a specific date need be true only as of such date), except where the failure of
such representations and warranties to be true and correct would not constitute a material adverse
effect on Purchaser’s performance of its obligations hereunder. Seller shall have received a
certificate to such effect dated the Closing Date and executed by duly authorized officers of
Purchaser.

     (d) No Injunctions or Proceedings. No temporary restraining order, preliminary or
permanent injunction or other order of any court of competent jurisdiction or other legal restraint
or prohibition preventing, restricting or conditioning the consummation of the transactions
contemplated by this Agreement shall be in effect. No litigation, investigation or administrative
proceeding, in each case brought or initiated by a Governmental Authority, shall be pending or
threatened that would enjoin, restrain, condition or prohibit consummation of the transactions
contemplated by this Agreement.

     (e) Other Instruments and Documents. Such other instruments and documents as are (i)
required by any other provisions of this Agreement or (ii) reasonably necessary, in the opinion of
Seller, to effect the performance of this Agreement by Purchaser.

     (f) Other Approvals. Any other Governmental Approvals, notices and filings as may be
required shall have been obtained, given or made.

     (g) Delivery of Other Closing Documents. Purchaser shall have executed and delivered
all of the documents required to be delivered pursuant to Section 2.7.

ARTICLE VIII

TERMINATION

     Section 8.1 Termination. This Agreement may be terminated at any time prior to the
Closing:

     (a) By agreement of the parties hereto.

     (b) By Purchaser upon written notice to Seller, if (i) Seller is in breach or default of its
covenants, agreements or other obligations herein, or if any of its representations and warranties
herein are not true and accurate in all material respects when made or when otherwise required by
this Agreement to be true and accurate, (ii) such breach, default, untruth or inaccuracy is
incapable of being cured, or if such breach, default, untruth or inaccuracy is capable of being
cured, it is not cured within 10 days of receipt of notice that such breach, default or failure
exists or has occurred and (iii) such breach, default, untruth or inaccuracy would constitute a
failure to satisfy a Closing condition hereunder if the Closing were to occur at the time Purchaser
seeks to terminate this Agreement under this Section 8.1(b).

21

 

ANNEX A

     (c) By Purchaser, by giving written notice of such termination to Seller, if the Closing shall
not have occurred on or prior to the Final Date; provided that Purchaser is not in material
breach of its obligations under this Agreement.

     (d) By Seller upon written notice to the Purchaser, if (i) either Purchaser is in material
breach or default of its covenants, agreements, or other obligations herein, or if any of its
representations and warranties herein were not true and accurate in all material respects when made
or when otherwise required by this Agreement to be true and accurate, (ii) such breach, default,
untruth or inaccuracy is incapable of being cured, or if such breach, default, untruth or
inaccuracy is capable of being cured, it is not cured within 10 days of receipt of notice that such
breach, default, untruth or inaccuracy exists or has occurred and (iii) such breach, default,
untruth or inaccuracy would constitute a failure to satisfy a Closing condition hereunder if the
Closing were to occur at the time Seller seeks to terminate this Agreement under this Section
8.1(d).

     (e) By Seller, by giving written notice of such termination to Purchaser, if the Closing shall
not have occurred on or prior to the Final Date; provided that Seller is not in material
breach of its obligations under this Agreement.

     Any notice given pursuant to clause (b) or (d) of this Section 8.1 shall specify the condition
or conditions that constitute the breach, default, untruth or inaccuracy.

     Section 8.2 Effect of Termination. In the event of the termination of this Agreement
in accordance with Section 8.1 hereof, this Agreement shall thereafter become void and have no
effect, and no party hereto shall have any Liability to any other party hereto or their respective
Affiliates, directors, officers or employees, except that the parties shall perform their
obligations contained in this Section 8.2 and Sections 9.3, 9.5, 9.6, 9.7, 9.8, 9.9, 9.10, 9.11 and
9.13; provided that nothing in this Article VIII shall relieve any party of its Liability
for a breach of its obligations under this Agreement.

ARTICLE IX

MISCELLANEOUS

     Section 9.1 Notices. All notices or other communications hereunder shall be deemed
to have been duly given and made upon receipt if made in writing and if (a) served by personal
delivery upon the party for whom it is intended, (b) delivered by a national courier service or (c)
sent by telecopier, provided that the telecopy is promptly confirmed by telephone
confirmation thereof, to the person at the address set forth below, or such other address as may be
designated in writing hereafter, in the same manner, by such person.

     Notices to Purchaser:

LDK Solar Co., Ltd.

Xinyu Hi-Tech Industrial Park

Jiangxi Province 338032

People’s Republic of China

Attention: Chief Financial Officer

Telephone:            (+86) 139-7902-7936

Facsimile:               (+86)   790-686-0060

     Notices to Seller:

Best Solar Co., Ltd.

6/F Administrative Building

22

 

ANNEX A

1368 Wuzhong Avenue

Wuzhong District

Suzhou, Jiangsu Province 215104

People’s Republic of China

Attention: President

Telephone:            (+86) 135-8486-1569

Facsimile:               (+86) 512-8225-0101

     Section 9.2 Amendment; Waiver. Any provision of this Agreement may be amended or
waived if, and only if, such amendment or waiver is in writing and signed, in the case of an
amendment, by the parties hereto, or, in the case of a waiver, by the party against whom the waiver
is to be effective. No failure or delay by any party in exercising any right, power or privilege
hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof
preclude any other or further exercise thereof or the exercise of any other right, power or
privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any
rights or remedies provided by Law.

     Section 9.3 Assignment. No party to this Agreement may assign any of its rights or
obligations under this Agreement without the prior written consent of the other parties hereto;
provided that (a) Purchaser may: (i) assign its rights hereunder to any direct or indirect
wholly-owned Subsidiary and (ii) assign, pledge and grant a security interest in its right, title
and interest in, to and under this Agreement and its rights thereunder as collateral security for
any present or future indebtedness, which assignment, in either case, shall not relieve Purchaser
of any obligations hereunder and (b) Purchaser and Seller may assign their rights and obligations
to a person who acquires all or substantially all of that party’s assets (or, in the case of
Purchaser, after the Closing, all or substantially all of the assets acquired by it under this
Agreement) and assumes all of such Party’s obligations hereunder. Any attempted assignment in
contravention hereof shall be null and void.

     Section 9.4 Entire Agreement; Severability. This Agreement contains the entire
agreement between the parties hereto with respect to the subject matter hereof and supersede all
prior agreements and understandings, oral or written, with respect to such matters. If any
provision of this Agreement is held to be invalid or unenforceable by any court of competent
jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any
provision of this Agreement that is held invalid or unenforceable only in part or degree will
remain in full force and effect to the extent not held invalid or unenforceable.

     Section 9.5 Fulfillment of Obligations. Any obligation of any party to any other
party under this Agreement, which obligation is performed, satisfied or fulfilled by an Affiliate
of such party, shall be deemed to have been performed, satisfied or fulfilled by such party.

     Section 9.6 Parties in Interest. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective Successors and permitted assigns. Nothing in
this Agreement, express or implied, is intended to confer upon any Person other than the parties
hereto or their Successors and permitted assigns any rights or remedies under or by reason of this
Agreement.

     Section 9.7 Confidential Nature of Information. Each party agrees that it will treat
in confidence all documents, materials and other information which it shall have obtained regarding
the other party during the course of the negotiations leading to the consummation of the
transactions contemplated hereby (whether obtained before or after the date of this Agreement), the
investigation provided for herein and the preparation of this Agreement and other related
documents, and, if the transactions contemplated hereby are not consummated, each party will return
to the other party all copies of nonpublic documents and materials which have been furnished in
connection therewith. Such documents, materials and information shall not be communicated to any
third Person (other than, in the case of Purchaser, to its counsel, accountants, financial advisors
or lenders, and in the case of Seller, to its counsel, accountants or

23

 

ANNEX A

financial advisors). No other party shall use any confidential information in any manner
whatsoever except solely for the purpose of evaluating the proposed purchase and sale of the
Purchased Assets; provided, however, that after the Closing Purchaser may use or disclose any
confidential information included in the Purchased Assets or otherwise reasonably related to the
Business or the Purchased Assets. The obligation of each party to treat such documents, materials
and other information in confidence shall not apply to any information which (i) is or becomes
available to such party from a source other than the other party, (ii) is or becomes available to
the public other than as a result of disclosure by such party or its agents, (iii) is required to
be disclosed under applicable law or judicial process, but only to the extent it must be disclosed,
or (iv) such party reasonably deems necessary to disclose to obtain any of the consents or
approvals contemplated hereby.

     Section 9.8 Public Disclosure. Notwithstanding anything herein to the contrary, each
of the parties to this Agreement hereby agrees with the other parties hereto that, except as may be
required to comply with the requirements of any applicable Laws, and the rules and regulations of
each stock exchange upon which the securities of one of the parties is listed, no press release or
similar public announcement or communication shall ever, whether prior to or subsequent to the
Closing, be made or caused to be made concerning the execution or performance of this Agreement
unless specifically approved in advance by the parties hereto (which approval shall not be
unreasonably withheld or delayed).

     Section 9.9 Return of Information. If for any reason whatsoever the transactions
contemplated by this Agreement are not consummated, Purchaser shall promptly return to or cause to
be returned Seller all Books and Records furnished by Seller or any of their respective agents,
employees, or representatives (including all copies, if any, thereof).

     Section 9.10 Expenses. Except as otherwise expressly provided in this Agreement,
whether or not the transactions contemplated by this Agreement are consummated, all costs and
expenses incurred in connection with this Agreement and the transactions contemplated hereby shall
be borne by the party incurring such expenses.

     Section 9.11 GOVERNING LAW AND JURISDICTION.

     (a) In the event of any claim, controversy or dispute between the parties with respect to this
Agreement, each party agrees to consult with the other for a period of not less than 90 days from
the date notice is given by a party to the other party that a claim, controversy, or dispute exists
in order to determine whether there is a mutually acceptable resolution.

     (b) In the event that the consultation provided for in paragraph (a) of this Section 9.11 has
not resulted in a mutually acceptable resolution, then such matter shall be exclusively and finally
settled by arbitration held in Shanghai by China International Economic and Trade Arbitration
Committee (“CIETAC”) in accordance with its prevailing rules at the time of arbitration, whose
decision shall be final and legally binding on each party. The arbitral tribunal shall consist of
three arbitrators to be appointed in accordance with such CIETAC rules. The arbitration fees
payable to the arbitration organization and any reasonable attorney’s fees shall be borne by the
losing party unless otherwise determined in the arbitration award. The arbitration proceedings
shall be conducted in Chinese.

     (c) Nothing in this Agreement shall prevent either party from seeking provisional measures or
other interim relief from any court of competent jurisdiction and any such request shall not be
deemed incompatible with the agreement to arbitration in this Agreement or as a waiver of the right
to arbitrate.

24

 

ANNEX A

     (d) Pending resolution of the dispute in accordance with this Section 9.11, the parties shall
continue to punctually perform their respective obligations and duties under this Agreement, except
for those relating to discrepancies under arbitration.

THIS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE PEOPLE’S
REPUBLIC OF CHINA.

     Section 9.12 Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, and all of which shall constitute one and
the same Agreement.

     Section 9.13 Headings. The heading references herein and the table of contents
hereto are for convenience purposes only, do not constitute a part of this Agreement and shall not
be deemed to limit or affect any of the provisions hereof.

     Section 9.14 Time is of the Essence. With regard to all dates and time periods set
forth or referred to in this Agreement, time is of the essence.

     Section 9.15 Mutual Drafting. This Agreement is the product of joint drafting and
negotiation among the parties and no provision hereof shall be construed for or against any party
based upon such party having been responsible or primarily responsible for the drafting thereof.

     IN WITNESS WHEREOF, the parties have executed or caused this Agreement to be executed as of
the date first written above.

	 	 	 	 	 	 	 	 	 	 	 

	LDK SOLAR CO., LTD	 	BEST SOLAR CO., LTD.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Shao Yonggang
 

(Signature)
	 	 
	 	By:
	 	/s/ Zhou Shan
 

(Signature)
	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Shao Yonggang
 

(Print)
	 	 
	 	Name:
	 	Zhou Shan
 

(Print)
	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:

	 	Authorized Signatory
 

(Print)
	 	 
	 	Title:
	 	Authorized Signatory
 

(Print)
	 	 

25

 

ANNEX A

PURCHASED ASSETS

          The Purchased Assets shall include all right, title and interest of Seller in and to all of
the properties, assets, Contracts and rights Related to the Transferred Business (other than the
Excluded Assets), wherever such properties, assets, contracts and rights are located and whether
such assets are real, personal or mixed, tangible or intangible, matured or unmatured, known or
unknown, contingent or fixed, and whether or not any of such assets have any value for accounting
purposes or are carried or reflected on or specifically referred to in the Books and Records,
including, without limitation, the assets listed below:

          (a) with respect to assets at Seller’s site at Nanchang, Jiangxi Province:

          (i) 31 items of machinery, including a battery tester, a humidity tester, an
ultra-violet radiation tester and a solar array simulator.

          (ii) A light goods vehicle (license plate no. AOW775).

          (iii) 569 electronic items, including air conditioners, computers, printers, cameras,
projectors and vacuum cleaners.

          (iv) A project, construction of which is currently in progress, valued at
RMB90,034,751.79.

          (v) Items of prepaid expenses, valued at RMB7,381,111.11.

          (vi) All other items included in the valuation report on Seller’s Nanchang, Jiangxi
Province site, dated January 20, 2010, prepared by Orient Appraisal Co., Ltd.;

          (b) with respect to assets at Seller’s site at Suzhou, Jiangsu Province:

          (i) 1,967 items of machinery, including a power press, computer networking and coaxial
cables, a cutting machines and a sclerometer.

          (ii) 33 cars.

          (iii) 186 electronic items, including computers, air-conditioners, printers, fax
machines, projectors and cameras.

          (iv) 6 projects, construction of which is currently in progress, valued collectively
at RMB1,990,479.77.

          (v) An item of prepaid expense, valued at RMB19,863,072.67.

          (vi) All other items included in the valuation report on Seller’s Suzhou, Jiangsu
Province site, dated January 20, 2010, prepared by Orient Appraisal Co., Ltd.

          (c) all of Seller’s interests in the Real Property together with all related certificates of
occupancy, permits, plans, specifications, surveys, inspection reports, site inspections and
related books and records;

          (d) all of the Contracts set forth in Schedule 3.10, unless otherwise specified therein;

A-1

 

ANNEX A

          (e) all inventory, wherever located (including inventory in transit and consignment inventory,
if any), including, without limitation, all raw materials, work-in-process, recycled materials,
finished products, packaging, supplies, tools, spare parts and other inventories located at the
Real Property or elsewhere or reflected in the Books and Records that is Related to the Transferred
Business;

          (f) all of the machinery, furniture and office equipment, including desks, tables, chairs,
file cabinets and other storage devices, communications equipment, computers, office supplies,
fixtures, fittings and other items of personal property which are owned or leased by Seller and
located at the Real Property or elsewhere and that are Related to the Transferred Business, or
that are in transit to, or temporarily removed from, the Real Property and which would otherwise be
included among Purchased Assets;

          (g) all of Seller’s rights, title and interests in and to the Transferred Intellectual
Property;

          (h) all of Seller’s rights, title and interests in and to the IT Assets Related to the
Transferred Business;

          (i) all of Seller’s credits, prepaid expenses, deferred charges, advance payments, security
deposits and duties, in each case, to the extent related to a Purchased Asset;

          (j) all of the Books and Records;

          (k) to the extent their transfer is permitted by applicable Law, all Governmental
Authorizations, including all applications therefor;

          (l) to the extent transferable, all rights under express or implied warranties and licenses
from Seller’s suppliers (including manufacturers and distributors) with respect to the Purchased
Assets and any related claims, credits, rights of recovery and set-off with respect to such items;

          (m) all rights to causes of action, lawsuits, claims and demands of any nature available to
Seller that Relate to the Purchased Assets or the Assumed Liabilities;

          (n) to the extent transferable, all guarantees, warranties, indemnities and similar rights in
favor of Seller in connection with the Purchased Assets and any related claims, credits, rights of
recovery and set-off with respect thereto;

          (o) all of the motor vehicles, whether or not licensed or registered to operate on public
highways, including automobiles, trucks, self-propelled carts and other motorized lifting, material
handling or transporting equipment and all spare parts, fuel and other supplies, tools and other
items used in the operation or maintenance thereof which are owned or leased by either Seller and
located at the Real Property or elsewhere and which are primarily used or held for use primarily in
the conduct of the Transferred Business, or which are in transit to or temporarily removed from the
Real Property and which would otherwise be included among the Purchased Assets;

          (p) all rights of Seller to any insurance proceeds relating to the damage, destruction or
impairment of assets or other rights described in this Annex A which would have been Purchased
Assets but for such damage, destruction or impairment prior to the Closing Date;

          (q) all rights, title and interests in or to warranties or claims against third parties
relating to or arising from any of the Purchased Assets;

          (r) all Trade Accounts Payable; and

A-2

 

ANNEX A

          (s) all accounts receivable and notes receivable and other miscellaneous receivables of Seller on
the Closing Date arising out of the sale or other disposition of goods or services Related to the
Transferred Business or any Purchased Asset or otherwise arising out of the operation or conduct of
the Transferred Business.

A-3

 

ANNEX B

EXCLUDED ASSETS

Any asset or property of Seller and any Affiliate of Seller other than those assets and properties
included in the definition of Purchased Assets.

 

 

ANNEX C

EXCLUDED LIABILITIES

None other than described in Section 2.4.

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