Document:

ex43.htm

    EXHIBIT
4.3

     

     

    Supply
Contract

     

    Between

     

    Bangkok Solar CO,L TD and NP
Capital Corp.

     

    Meeting
on the 19'h of
January. 2008, at the office of Bangkok Solar CO,LTD., Chacheangsao. Thailand,
(hereinafter referred to as "BSC") on the one part, and NP Capital Corp.
(hereinafter referred to, as -NPC") on the other part, as follows:

     

    WHEREAS BSC is the beneficial
owner of a factory manufacturing solar modules with the a-Si (amorphous silicon)
technology in Thailand. and,

     

    WHEREAS BSC is interested in
having said a-Si solar modules marketed in North America

     

    WHEREAS NPC has declared
itself capable of implementing such marketing activities on BSC's behalf.
in North
America

     

    IT
HAS BEEN MUTUALLY AGREED, AS FOLLOWS:

     

    
      
        	
                1.  

              	      
                Two
      duly authorized representatives of BSC and NPC, Dr. Krisada
      Chongphaibuipatana (Vice-President/ Sales & Marketing Department) and
      Mr. Bradley C. Holt (CEO), have investigated on the potential of marketing
      BSC's a-Si solar modules, in North America, through the
      services of NPC, NPC has arranged to provide BSC with proper market
      and competitor information, potential customers, marketing activities and
      the ongoing implementation schedule, in the framework of a performance of
      NPC on North
      America.

              

      

       

    

    
      	
              2.  

            	
              Based
      on the above information and following contract negotiations between BSC
      and NPC. BSC has agreed
      to grant NPC an exclusive distributor right for it's a-Si solar modules
      for the territory of the North America, with an initial sales quota of 20
      Megawatts of modules, for the trial year during the period of 12 months
      after BSC got UL certificate. This sales quota will be adjusted, upwards,
      or downwards, by mutual agreement of the Parties, together with the CIF
      Price USA WEST COAST PORT and the exclusive right and Payment Term
      Condition referred to under Paras 3. and 4. in according of this Supply
      Contract.

            

    

     

    
      	
              3.  

            	
              The
      Exclusive right in North America Distributor condition
  :

            

    

     

    
      	 
      	
              a)
      BSC will grant this Exclusive North American Distributor to NPC. if NPC
      fully perform as per the promised of item 4 after the 6 months of getting
      UL Certification's.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	 
      	
              b)
      NP Capital is granted the Exclusive Rights for North American, BSC will
      therefore not effect any deliveries to other customers in North American,
      Unless NP Capital could not accept the Quantity which BSC would like to
      share in the North American Market, BSC has the right to sell to other
      customers in North American with the condition that the discussion has to
      be done between two parties first and the Price should not be lower than
      what the NP Capital gets. Furthermore, NP Capital undertakes not to
      conclude any agreement with customers of BSC, in particular also from
      outside North American Market.

            

    

     

    
      	
              4.  

            	
              Orders.
      Prices, Shipment, and Terms of
Payment

            

    

     

    
      	
              a.  

            	
              Orders.
      Bangkok Solar agrees to sell to NP Capital twenty (20) MWp solar modules
      and the shipment of total amount 20 MWp will be shipped to NPC within 12
      month after BSC got UL certificate at the price listed below. The parties
      tentatively agree to the following order schedule
  :

            

    

     

    Month
1               
:                   1.0
MWp

     

    Month
2                :                   1.0
MWp

     

    Month
3                :                   1.5
MWp

     

    Month
4                :                   1.5
MWp

     

    Month
5                :                   1.5
MWp

     

    Month
6                :                   1.5
MWp

     

    Month
7                :                   2.0
MWp

     

    Month
8                :                   2.0
MWp

     

    Month
9                :                   2.0
MWp

     

    Month
10              :                   2.0
MWp

     

    Month I
I              :                   2.0
MWp

     

    Month
12              :                   2.0
MWp

     

    
      	
              b.  

            	
              Product Price. The
      Product price shall be ** USD/Wp for the first 15 MWp and ** USD/Wp for
      the last 5 MWp. The Product price shall be calculated using a Thai Baht to
      United States Dollar exchange rate of 33.85 ("33.85 Bht/USD").
      Notwithstanding the foregoing, the foregoing Product price shall be
      adjusted if on the date any goods purchased hereunder clear U.S. customs
      (the "Delivery Date"), the exchange rate for U.S. Dollars into Thai Baht
      ("Exchange Rate") is less than 33.35 Bht/USD or greater than 34.35
      Bht/USD. In such event, the Product price shall be the product of ** USD
      multiplied by a fraction, the numerator of which is the Exchange Rate (as
      determined by the Bank of Thailand's Average Interbank Exchange Rate) as
      of the Delivery Date and the denominator of which is 33.85. All prices and
      sums payable shall be in United States Dollars. NP Capital shall be free
      to establish its own resale price for the resale of the Products in the
      Territory.

            

    

     

    ** The
information omitted is confidential in nature and has been
omitted.  The Company has filed the omitted portion with the
Securities and Exchange Commission requesting confidential
treatment.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              c.  

            	
              Shipment. All Products
      shall be shipped on CIF term ( lncoterrns 2000) to NPC at the shipping
      location specified by NPC, but within the west coast USA port, BSC agrees
      (i) to obtain, or to assist NPC in obtaining, all local required licenses
      and permits then in effect. and (ii) to not export or ship the Products
      except in compliance with all applicable rules and
      regulations.

            

    

     

    
      	
              d.  

            	
              Terms
      of Payment.

            

    

     

    All the
payments for the Goods shall be made in USD currency by :-

     

    
      	
              -

            	
              25%
      T/T in advance within fourteen (14) days of each particular order
      as 

            

    

     

    
      	
              -

            	
              75%
      as an irrevocable letter of credit at sight with confirmed
      by first class international bank designated by the BSC. The letter of
      credit shall be established by NPC on ten (10) days
      prior to each scheduled shipment date and has to be valid for no less then
      thirty (30) days after the latest date allowed for the
      shipment.

            

    

     

    
      
        	
                  

              	NPC
      shall bear all banking expenses associated with the establishing of the
      letter of credit. The shipments will only consist of fully loaded
      containers.

      

       

    

    
      
        	
                 

              	Except otherwise agreed
      by the parties, such as, for more than 5 MWp special project inquiries,
      the price and delivery schedule shall be discussed and agreed upon both
      parties.

      

       

    

    
      
        	
                5.  

              	Warranty and
      Indemnification. BSC agrees to warrant the Products as attached
      document.

      

       

    

    
      	
              6.  

            	
              Choice of Law. This
      Contract is intended to be governed by laws of the Thailand without regard
      for choice of law principles, and the obligations, rights and remedies of
      the parties hereto will be determined in accordance with such
      laws.

            

    

     

    
      	
              7.  

            	
              Term. The term of
      this Contract begins on the date of execution of this Contract by BSC and
      continues for twelve (12) months after BSC got UL
    certificate

            

    

     

    
      	
              8.  

            	
              Expenses. Except as
      otherwise expressly provided herein, the parties will be responsible for
      their own costs and expenses, including counsel fees, incurred it
      connection with the Transaction contemplated by this
    Contract.

            

    

     

    
      	
              9.  

            	
              Future Contract. The
      parties agree to diligently work toward the execution of a definitive
      distribution agreement with a term of five (5) years, consistent with the
      terms of this Contract.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              10.  

            	
              Exclusive
      Distributor Performance Evaluation.

              Parties
      agree that at the end of the trial period they will jointly evaluate NPCactivities during the
      said period and will
      adjust NPC annual quota accordingly as appropriate. Such joint
      evaluation-and said appropriate changes would have to take place within three months before the
      end of the trial period. 12 months after BSC got UL
      certificate)

            

    

     

    
      	
              11.  

            	
              Termination
      of Distribution.

              A
      party has the right to terminate this contract if the other party breaches
      any clause of this contract and does not remedy within 60 (sixty) days
      after receiving the advice of contract breaching or any case by the
      party.

            

    

     

    
      	
              12.  

            	
              PV
      Trade Show in USA

              BSC
      commit to response one (1) PV trade show booth expenses in USA on the
      trial period contract. (Within twelve (12) months after BSC got UL
      certificate).

            

    

     

     

     

    IN WITNESS WHEREOF, the
parties hereto have signed and executed this Supply Contract as of the Date on
19th
of January, 2008 by and between.

     

     

    
      	
              Bangkok
      Solar CO., LTD.

            	 
      	 
      	
              NP
      Capital CORP.

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              /s/Krisada
      Chongphaibulpatana

            	 
      	 
      	
              /s/
      Mr. Bradley C. Holt

            	 
      
	
              Dr.
      Krisada Chongphaibulpatana

            	 
      	 
      	
              Mr.
      Bradley C. Holt

            	 
      
	
              (Vice-President/Sales
      & Marketing Department)

            	 
      	 
      	
              (CEO)

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
              /s/Rangsun
      Kanjanangurapun

            	 
      	 
      	 
      	 
      
	
              Mr.
      Rangsun Kanjanangurapun

            	 
      	 
      	 
      	 
      
	
              (Sales
      & Marketing Department Manager)

            	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    
 

    Amorphous
Silicon Photovoltaic Module

     

    Limited
Warranty

     

    Bangkok
Solar Co.,Ltd (BSC) warrants its photovoltaic module against defects in
workmanship and materials for five (5) years from the aate of shipping BSC will
replace. or repair and return, any module or module part(s) found upon
inspection to be defective in workmanship or material Upon written authorization
from BSC , the module or module part(s) should be promptly shipped to BSC with
transportation costs prepaid. !f the module or module part(s) is found to be
defective within the terms of this warranty, credit will be issued to offset the
transportation cost of the return to BSC , and the repaired or replacement
module or module part(s) will be returned prepaid by BSC If the module or module
part(s) is not found to be defective, within the terms of this warranty. BSC
will notify the original purchaser and arrange for the original purchaser to
prepay return transportation costs BSC is not responsible for labor or other
charges necessitated by the removal and reinstallation of any defective module
or module part(s)

     

    In
addition. for a period of twenty (20) years from the shipping date, BSC warrants
to the original purchaser that its module will produce at !east 80% of the rated
power output at standard test conditions as specified by BSC at the time of
shipping In the event that the module produces less than 80% of the rated power,
BSC will at its option either replace the deficient module or provide the
original purchaser with additional module(s) to make up said
deficiency.

     

    This
warranty does not apply to
damage caused by storm, fire, wind, accident. or similar casualty or by improper
electrical supply. improper installation, careless handing, misuse, or
negligence. BSC shall not be liable for any consequential or incidental damages
to the original purchaser or anyone else

     

    This
warranty and BSC obligations hereunder is expressly in lieu of all other
warranties including, but on limited to. the implied warranties of
merchantability and fitness for a particular
purpose

     

    This
warranty gives the original purchaser specific legal rights, and there may also
be other applicable rights that vary from location to location.

     

    If
warranty service is believed to be needed, please contact:

     

     

    Bangkok
Solar Co.,Ltd.

    187/1
Raidamn Rd., Lumpinee.

    Pathumwan,
Bangkok Thailand 10330

    TEL
0-2651-9221-9. 0-254-4550-9

    FAX.
0-2253-5973, 0-2253-6028

    E-mail
.. sales@bangkoksolar.com

    http://www.bangkoksolarcom

     

     

    The
original purchaser should retain the receipt or other proof of purchase as it
may be needed to establish rights under this warranty.

    
 

     

    5QuickLinks
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Exhibit 10.2(b)    
    

Schedule
of Officers and Directors that are parties to Indemnification Agreement

with Impac Mortgage Holdings, Inc. 

	Name of Officer/Director
 
	 	Date of Agreement
 
	 	 

	

Joseph R. Tomkinson	
 	

September 24, 2002	
 	

 
	

William S. Ashmore	
 	

September 24, 2002	
 	

 
	

Ronald M. Morrison	
 	

September 24, 2002	
 	

 
	

Todd R. Taylor	
 	

October 19, 2004	
 	

 
	

James Walsh	
 	

September 2, 2002	
 	

 
	

Stephan R. Peers	
 	

September 2, 2002	
 	

 
	

Frank P. Filipps	
 	

September 2, 2002	
 	

 
	

William E. Rose	
 	

September 2, 2002	
 	

 
	

Leigh J. Abrams	
 	

September 2, 2002	
 	

 
	

William D. Endresen	
 	

May 1, 2006	
 	

 

QuickLinks

Exhibit 10.2(b)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]