Document:

PV Module Sales Contract dated June 29, 2010

  
 **** INDICATES CONFIDENTIAL
MATERIAL OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED WITH THE SECURITIES AND EXCHANGE COMMISSION SEPARATELY WITH A REQUEST FOR CONFIDENTIAL TREATMENT. 
 Exhibit 10.37 
 PV Module Sales Contract 

Contract No.: 2010-JKZJXS-0308-01 

This Sales Contract (“Contract”) is made on      June 29, 2010
         (“Signing Date”) between: 
  

	 	(1)	The Buyer: Elektro van Rienen GmbH 

 Address: Vennstr. 52, 46499 Hamminkeln, Germany 
  

	 	(2)	The Seller: Jinko Solar Import and Export Co. Ltd. 

 Address: Xuri District, Jinko Road, Shangrao Economic Development Zone, Jiangxi Province, P.R. CHINA 
 Tel: +86-793-8469699 
 Fax: +86-793-8461152 

It is hereby agreed as follows: 
 1.
Definitions 
  

	1.1	“Goods” means Photovoltaic Solar Modules with specification stipulated in the Clause 4.1 of this Contract. 

 

	1.2	“Proforma Invoice” (hereinafter referred to as PI) means the written document prepared by the Seller indicating the detailed power, quantity, payment
terms, prices and shipment date for each shipment. 

 2. Duration of the Contract 

This Contract shall be effective after (i) signed and sealed by parties and; (ii) advance payment has been paid into the entry of Seller’s
designated Bank Account set forth in Article 4.7. 
 Unless the Contract is terminated in accordance with the Clause 7, it will remain in full
force and effect until December 30, 2011. Both the Seller and the Buyer will discuss the renewal of a subsequent Contract at the time of 3 months at least before the expiration of this Contract. 

3. Purpose and Execution of Contract 

Goods will be supplied by the Seller to the Buyer in accordance with the terms and conditions of this Contract. 

PI is used for the sole purpose of administration and information (such as import and export) to specify the exact power, quantity and shipment date of
each shipment and the Contract is legally binding even without PI. Once the Seller issues the PI according to this Contract, the Buyer shall accept the delivery and make the payment according to clause 4. 

The Buyer shall acknowledge receipt of the PI by signing and returning the PI to the Seller within 3 days upon its receipt. Failure of the Buyer to
acknowledge receipt of the PI shall not affect the validity of this Contract or the obligation of the Buyer to take delivery of the shipment corresponding to the subject PI. The consequence of the Buyer’s default is that the Seller is not
responsible for the non-fulfillment of the quantities of the Contract and the Buyer cannot claim this missing quantity during the life of this Contract. The Buyer shall pay liquidated damages in accordance with Clause 6. 

  
 4. Contract Provision

  

	4.1	Specification of Goods 

 60-cell Module
made with 156×156 mm Multi-crystalline Solar cells with rated power between 200 Wp, 225 Wp and 230 Wp with the following data sheet: 
  

	 	•	 	 Power tolerance: ±3.0% 

  

	 	•	 	 Maximum system voltage: DC 1000 Voltage 

  

	 	•	 	 Dimension 1650*992*45mm 

 Packing details: 20 pcs/pallet, 560 pcs/40ft 
 Modules made with 125×125mm Mono-crystalline
Solar cells with rated power 185W and 240Wp with the following data sheet: 
  

	 	•	 	 Power tolerance: ±3.0% 

  

	 	•	 	 Maximum system voltage: 1000 Voltage 

  

	 	•	 	 Dimension: 1580*808*35mm; 1575*1082*45mm 

 Packing details: 28 pcs/pallet, 784 pcs/40ft, 20 pcs/pallet, 560 pcs/40ft; 
 During the term of
the Contract, the Seller may, but is not obligated to, make use of improved technology to produce the Goods so that the quality of the Goods delivered as compared to the specifications mentioned in this clause such as, but not limited to, power,
cells type, back sheet, modules, junction box, and connectors may be different but will not be worse. 
 The Seller is entitled to ship the type
of Goods as mentioned in Clause 4.1, and the Buyer shall accept the Goods stipulated therein. 
 4.2 Price 

 

															
	 Loading Time
	  	 Products
	  	Quantity(MW)	 	  	Price (USD/Wp)
CIF Rotterdam	 	  	Total
Amount
(USD)	 
	 October, 2010
	  	 JKM220P-60;or
 JKM225P-60;or
 JKM230P-60
	  	 	****	  	  	 	****	  	  	 	****	  
	  
 November,
2010
	  	  	  
  
	  
 ****
	  
   
	  	  
  
	  
 ****
	  
   
	  	  
  
	  
 ****
	  
   

	  
 December,
2010
	  	  	  
  
	  
 ****
	  
   
	  	  
  
	  
 ****
	  
   
	  	  
  
	  
 ****
	  
   

					
	 Q1, 2011
	  	 JKM220P-60;or
 JKM225P-60;or
 JKM230P-60;or

JKM185M-72;or

JKM240M-96 or

other modules
	  	 	****	  	  	 	****	  	  			
	 Q2, 2011
	  	  	 	****	  	  	 	****	  	  			
	 Q3, 2011
	  	  	 	****	  	  	 	****	  	  			
	 Q4, 2011
	  	  	 	****	  	  	 	****	  	  			
					
	 Total:
	  		  	 	21	  	  				  	 	****	  
	
	Say ten million six hundred and eighty thousand US Dollar only.	  
	
	Jinko solar modules, TUV certified.	  

 The price of each quarter of 2011 will be
discussed and decided by both parties one month prior to each quarter. 

  
  

	****	Confidential material omitted and filed separately with the Commission. 

  
 Prices are valid up to
  December 30, 2010   and based on CIF INCOTERMS 2000. 
 The export port is Shanghai, China, and the destination
port is European main port. The destination port shall be communicated by the Buyer to the Seller within 30 days before the month of shipment. 

4.3 Payment Terms  
 The Buyer will send a USD **** (one hundred thousand US dollars) by T/T to the Seller’s account as prepayment of the Contract. This USD **** will be sent to the Seller within ****
working days of contract signing. The Contract will become valid after the Seller gets this USD ****. The USD **** shall be calculated into the payment for the last shipment in 4th quarter of 2011. 
 For each partial shipment, a ****% of the partial shipment value will be paid to Seller as the advance payment at least **** days before loading. 

****% of the payment of each partial shipment shall be paid by   T/T **** working days prior to estimated time of arriving at
Rotterdam Port upon B/L copy  . 
 Risk of loss will be transferred from Seller to Buyer immediately after the Goods has passed
over the ship rail at the Shipment. 
 The Seller has the right to offset the payment due with the Advance Payment of the current delivery and
the following shipments if the Buyer cannot fulfill the obligation of payment in accordance with the Contract. 
 4.4 Quantity &
Shipment 
 The shipment schedule is fixed for each quarter. Detailed shipment schedule is set forth as following graph: See the table in
4.2 
 Meanwhile, if the Seller is not able to ship according to the Committed Quantity for any particular month the Seller is entitled to
deliver the quantities in the following month or quarter and the Buyer has the obligation to accept such make-up quantities in the following month or quarter. 
 The Buyer and the Seller agree on the authorized delay of delivery of **** days starting from the specific shipment schedule at the Shipment. After this delay, the Seller shall pay penalties of ****% of
the amount of the PI (for the delayed shipment only) per week until the shipment of Goods at the port of shipment by the Seller. 
 4.5
Take or Pay 
 The purchase of the Committed Quantity is a “take or pay” obligation on the part of the Buyer such that Buyer
is absolutely and irrevocably required to accept and pay for the Committed Quantity over the period at the price set forth in Clause 4.2. In the event that Buyer fails to take any or all shipments of delivery of its Committed Quantity in a given
year, Seller shall invoice Buyer at the end of the year the ****% of the yearly total committed amount. Buyer shall pay the difference within **** days immediately after the invoice date. Payment of such amount shall be deemed to be liquidated
damages for Buyer’s breach of its obligation to purchase the Committed Quantity. 
 4.6 Currency Fluctuation: 

All currency exchange shall be benchmarked against the buying rate listed from www. boc. cn on the day when Seller issues the PI. Should the
exchange rate between the RMB and US Dollar fluctuate above or below a pre-established and agreed-upon ****% of established base (1 USD = 6.81 RMB), then the selling price under the Contract shall be adjusted to reflect the corresponding rate
change. 
 4.7 Seller’s Bank Account: 
 Bank Name: BANK OF CHINA, SHANGRAO BRANCH 
 Address:
43 SHENGLI ROAD, SHANGRAO, JIANGXI PROVINCE, CHINA 
 SWIFT: BKCHCNBJ550 

BENEFICIARY’s Name: JINKO SOLAR IMPORT AND EXPORT CO., LTD. 

  
  

	****	Confidential material omitted and filed separately with the Commission. 

  
 BENEFICIARY’s Address:
Xuri District, Shangrao Economic Development Zone, Jiangxi Province, CHINA 
 BENEFICIARY’s A/C:
739173935828094014 
 4.8 Reservation of Ownership 
 Any Goods that has been sold remains the sole property of the Seller until all outstanding debt arising from the business connection with Buyer has been paid in full. 

5. Inspection/Claim/Warranty 
 5.1
Inspection  
 Within **** days after arrival of the Goods at the port of destination, the Buyer shall conduct a preliminary
inspection of the Goods in respect of quality, specification and quantity. The Buyer shall make claim, if there is substantial defect, within this period. The Buyer shall be regarded as having accepted the Goods if the Buyer does not notify the
Seller of the defect within **** days. 
 5.2 Claim 
 If any of the Goods delivered by the Seller under this Contract are not in conformity with the Specifications listed in the Clause 4.1, except those claims for which the insurance company or the shipping
company are liable, the Buyer shall claim replacement of said unqualified. Goods within **** days calculating from arriving date at destination port by showing inspection report issued by public recognized inspecting institute selected and confirmed
by both parties in advance. The Seller shall replace the defective or damaged Goods thereafter. 
 5.3 Warranty 

The warranty period for material defects and workmanship is 5 (five years) from the date of Shipment. 

The warranty period with respect to power output continues for a total of 25 years from date of Shipment, the first 12 years at 90% rated power output at
STC and up to 25 years at 80% rated power output at STC. 
 Other stipulation of warranty is included in Appendix 1- Limited Warranty Policy.

 6. Liquidated Damages 
 Buyer
shall pay liquidated damages under this Contract upon the occurrence of any of the following: if the Seller provides PI in accordance with the Contract, the Buyer shall make payment according to PI, otherwise the Buyer shall pay **** % of the
due payment per week as liquidated damages. 
 7. Termination 
 If one party commits a material breach of the terms and conditions of the Contract, and such breach is capable of immediate remedy, but the breaching party fails to remedy it within 15 days or such other
reasonable period consented by the other party, the other party has right to terminate this Contract immediately. 
 If one party is bankrupt or
insolvent, the other party has the right to terminate this Contract. 
 8. Confidentiality 

Either party undertakes that it and its directors, officers, employees, representatives, agents, Contractors or affiliates will fully respect the
confidentiality of internal business affairs of the other party. Each of the parties hereby undertakes to treat as confidential all information obtained from the other party or communicated to the receiving party pursuant to this Contract (or
through discussions or negotiations prior to the Contract being entered into) or acquired in the performance of the Contract, and will not divulge such information to any person (except to its own employees and then only to employees who need to
know the same) and will use such information solely in connection with performing its obligations under this Contract and not for its own benefit or for the benefit of any third party, provided that this clause shall not extend to information:

  

	A.	which is rightfully in possession prior to the commencement of the negotiations resulting in the Contract; or, 

  
  

	****	Confidential material omitted and filed separately with the Commission. 

  

	B.	which is already public knowledge or becomes so at a further date (other than as a result of breach of this clause); or, 

 

	C.	which is communicated or disclosed to the receiving party by a third party lawfully in possession thereof and entitled so to disclose it. 

However one party or its affiliate (including parent company, branch or subsidiary) may disclose the content of this Contract if so required by local law
or relative government where such party or its affiliate is located. 
 As required by the applicable securities laws and stock and securities
regulatory authority, either party may file a copy of this Contract or disclose information regarding the provisions hereof or performance hereunder. 
 No press release referring to this Contract shall be made without the prior written approval of such other party.
 9. Force Majeure 
 Neither party shall be liable for failure to perform its obligations
under the Contract if such failure results from circumstances beyond such party’s reasonable control. Therefore, there is no right to claim any indemnification for such a Force Majeure event which includes fire, flood, typhoon, earthquake,
strike and other unforeseeable and unavoidable events. 
 The affected party will notify the other party as soon as reasonably practicable after
the Force Majeure event occurring, and use reasonable endeavors to mitigate the effect of the event and to put right the Force Majeure event as soon as possible. 
 In case, the Force Majeure occurrence continues for a prolonged period, then the Seller or the Buyer reserve the right to terminate the Contract. 
 10. Governing Law 
 This Contract shall be construed under and governed by the laws of
    GERMANY    , except as otherwise expressly provided to be governed by INCOTERMS 2000. For any specific matter that is not covered by
    GERMAN     law or INCOTERMS 2000, the general international business practices shall apply. 
 11. Arbitration 
 Any dispute or controversy or difference arising out of or in connection
with this Contract between the parties hereto shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by three arbitrators appointed in accordance with the said Rules. The arbitration place will be
GERMANY. All documents, records, information, and other materials submitted in the arbitration shall be confidential, and shall not be disclosed to any other parties other than the arbitrators without the written consent of the other party.
The written decision of the arbitrators is binding as between the parties hereto and their successors and assigns. The language to be used during the arbitration is English. 
 12. Liabilities 
 The Seller limits the liability in respect of any loss or damage whether
to property or otherwise, or death or injury to persons arising out of or in connection with the supply of the Goods to a maximum indemnity equivalent to the value of the Goods. 
 In no event will either party be liable to the other party for loss of profits or for any indirect, incidental, consequential, special, or exemplary damages arising from the breach of this agreement,
regardless of the type of claim and even if that party has been advised of the possibility of such damages. 
 Based on the requirement of
Seller’s commercial strategy, Buyer warrants that it shall not resell Seller’s Product into the country of Israel, failing of which Buyer shall be fully responsible for all of loss of Seller. 

Both parties warrant that they hold good commercial reputation and are in good financial condition, failing of which the breaching party shall be fully
responsible therefor and compensate observant party’s full loss provided that the observant party cannot obtain any loan or insurance policy due to such failure. 
 Buyer shall be responsible for any loss arising from its failure upon timely receipt of the Product of Seller at the destination port. 

  
 In case that any party terminates the
Contract unilaterally, the breaching party shall pay liquidated damages equal to ****% of the Contract amount to observant party without affecting the observant party’s other rights under the Contract. 

13. Variation 
 No amendment to or
variation of this Contract shall be effective unless made in writing and signed by the duly authorized representatives of both parties hereto. 

14. Assignment 
 Each party shall not in
whole or in part, assign, sell, mortgage its interests or rights under this Contract to any third party unless the other party has provided prior written notice of such intention to this party. 

15. Notices 
  

	•	 	 All notice shall be written in English and served to the other party by e-mail, fax or courier to the addresses as provided on page No.1 of this
Contract. 

  

	•	 	 If any changes of the addresses occur, the party, whose address has been changed, shall inform the other party of
the change of its address within 10 days after the change. 

  

	•	 	 Any kind of unilateral modification by hand writing or erasure other than printing words to this Contract shall be deemed as invalid unless both sides
sign and chop on such part. 

 16. Third Party 
 Nothing in this Contract is intended to confer on any person who is not a party hereto any right to enforce any term of this Contract. 
 17. Severance 
 If for any reason any provision contained in the Contract is declared
illegal void or unenforceable, all other provisions contained in the Contract shall not be affected and accordingly shall remain in full force and effect. 
 18. Language 
 This Contract is drafted in Chinese and English. In case of any discrepancy
between the two versions, the English version shall prevail. This contract is executed in duplicate. Each party holds one version with the same effectiveness. 
 19. Appendixes 
 Any Appendix of this Contract listed below constitutes part of this
Contract. If there is any conflict between this Contract and the Appendixes, the content of this main Contract shall govern. 
 IN WITNESS
WHEREOF, the parties have signed this Contract as of the date first set forth above. 
 [The remaining part is intentionally
left for blank] 
 Sealed: 

/s/ Jinko Solar Import and Export Co., Ltd. 
 For and on behalf of 
 Jinko Solar Import and Export Co. Ltd. 

  
  

	****	Confidential material omitted and filed separately with the Commission. 

  
 /s/ Elektro van Rienen GmbH

 For and on behalf of 
 Elektro
van Rienen GmbH 
 List of Appendixes 
  

	Appendix	1         Limited Warranty Policy—Jinko WarrantyPV Module Sales Contract dated October 26, 2010

  
 Exhibit 10.38

 **** INDICATES CONFIDENTIAL MATERIAL OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION SEPARATELY WITH A REQUEST FOR CONFIDENTIAL TREATMENT. 
 PV Module Sales Contract 

Contract No.: 2010-JKZJXS-0332-01 

This Sales Contract (“Contract”) is made on October 26, 2010 (“Execution Date”) at Pudong District, Shanghai China, by and
between: 
  

	 	(1)	The Buyer: Tozzi Sud SpA 

 Legal
address: S.S. 16 Zona Industriale Incoronata Foggia ITALY 71123 
 Billing address: Via Zuccherificio, 10 Mezzano (RA) –
ITALY 48123 
 Tel.: 39 0544 525011 
 Fax: 39 0544 525299 
  

	 	(2)	The Seller: Jinko Solar Import and Export Co. Ltd. 

 Address: Xuri District, Shangrao Economic Development Zone, Jiangxi Province, P.R.C. 
 Tel: +86-793-8469699 
 Fax: +86-793-8461152 

It is hereby agreed as follows: 
  

	1.	Definitions 

  

	1.1	“Goods” means the Photovoltaic Solar Modules with specification stipulated in this Contract. 

 

	1.2	“Proforma Invoice” (hereinafter referred to as “PI”) means, for each shipment, the written document prepared by the Seller indicating the
type of modules, detailed power output, quantity, payment terms, prices and expected shipment date. 

  

	2.	Duration of the Contract 

 This Contract
shall be effective upon being signed and stamped by both parties. Unless the Contract is terminated in accordance with the Article 6, it will remain in full force and effect until Goods are delivered and the Seller has received the payment in full
amount in accordance with the Article 4. 
  

	3.	Purpose and Implementation of the Contract 

The Seller undertakes to manufacture and sell to the Buyer and the Buyer undertakes to purchase the Goods from the Seller according to the schedule and at
the price agreed in Article 4.2. 
 PI is used for the sole purpose of administration and information (such as import and export) to specify the
exact power, quantity and shipment date of each shipment and the Contract is legally binding even without PI. Once the Seller issues the PI according to this Contract, the Buyer shall accept the delivery and make the payment according to Article 4.

  
 1 

  
 The Buyer shall acknowledge receipt of
the PI by signing and returning the PI to the Seller within 5 days upon its receipt. Failure of the Buyer to acknowledge receipt of the PI shall not affect the validity of this Contract or the obligations of the Buyer to take delivery of the
shipments under the Contract. The consequence of the Buyer’s default is that the Seller is not responsible for the non-fulfillment of the quantities of the Contract and the Buyer cannot claim this missing quantity during the term of this
Contract. 
  

	4.	Contract Provision 

 4.1 Specification
of Goods 
 Types of modules: JKM-225P-60, JKM-230P-60, JKM-235P-60, JKM-240P-60, JKM-255M-96. 

Power tolerance: 0/+3% 
 Maximum system voltage:
1000V DC 
 Dimension: 1650*992*45mm (Polycrystalline modules, 60 cells) 
 Dimension: 1575*1082*45mm (Monocrystalline modules, 96 cells) 
 Packaging details: 24pcs/pallet;
672pcs/40’HQ for two types of module 
 All monocrystalline modules shall be sorted by the actual current Imp with the increment of
0.1 A. Each box should have the same current interval. 
 All multicrystalline modules shall be sorted by the actual current Imp with the
increment of 0.1 A within Imp 7.6A to 8.0A. Modules with Imp below 7.6 will be considered as one interval and packed together, the same rule applies to the goods with Imp above 8.0A. However, it is accepted to have a box with mixed currents if
quantity for each current interval is not sufficient to fill one pallet. 
 During the term of the Contract, the Seller may, but is not
obligated to, make use of improved technology to produce the Goods so that the quality of the Goods delivered as compared to the specifications mentioned in this Article such as, but not limited to, power, cells type, back sheet, 60-cell modules,
junction box, and connectors, may be different but will not be worse. The Buyer has to be informed by a 30-day prior notice for such changes and the Buyer may refuse the modification provided that it is not compatible with the design of his Plant.

  
 2 

  
 4.2 Price and Quantity 

 

																	
	 Expected Time

of Shipment 
	  	 Products
	  	 Product
Mix
	  	 Committed Quantity(MW),

Nominal Power output
	  	Price CIF
(Italian
Port)
(euro/Watt)	 	  	Total
Amount
(euro)	 
	 December, 2010
	  	 JKM-255M-96
 JKM-225P-60
 JKM-230P-60

JKM-235P-60

JKM-240P-60
	  	100% Mono 96 cells	  	****	  	€	****	  	  	€	****	  
	 January, 2011
	  	  	  	****	  	€	****	  	  	€	****	  
	 February, 2011
	  	  	  	****	  	€	****	  	  	€	****	  
	 March, 2011
	  	  	*	  	 ****
	  	€	**** *	  	  	€	 ****	  
	 April, 2011
	  	  	*	  	 ****
	  	€	**** *	  	  	€	****	  
	 May, 2011
	  	  	*	  	 ****
	  	€	**** *	  	  	€	****	  
	 June, 2011
	  	  	*	  	 ****
	  	€	**** *	  	  	€	****	  
		  		  		  		  		  				  	 	 	 
	 Total
	  		  		  	50 MW	  				  	€	****	  
		  		  		  		  		  				  	 	 	 

  

	*	-Prices are used for references only and to be finalized together with quantities and product mix at least two months before each month starting from March 2011.

 The total Committed Quantity to be purchased and sold under this Contract is 50 MW of nominal power output, of which 29MW for
the period from March 2011 to June 2011 is to be determined by both parties according to the schedule at the beginning of Article 4.2. 
 The
purchase price for each shipment will be calculated based on the cumulative actual power output of the solar modules as recorded on the PI. 

The export port is Shanghai, China, and the destination port is Italian main port (including Ravenna). The destination port shall be notified by the
Buyer to the Seller within 30 days before the month of shipment. 
 4.3 Payment Terms 

Down Payment 
  

	 	•	 	 € **** as Down Payment, shall be paid by Buyer by T/T no later than **** days upon receiving the bank guarantee letter issued by the Seller.
Seller shall issue a Commercial Invoice and bank guarantee letter in the amount of € **** and such bank guarantee letter shall only become effective after the Seller receives the Down Payment in full. If Buyer fails to pay the Down Payment
within **** days after receiving Commercial Invoice and bank guarantee letter, Seller shall be entitled to terminate this Contract. The Down Payment shall be offset for ****% of the purchase price of each shipment. In case the Down Payment is no
longer sufficient to set off ****% of the purchase price for specific shipment (under the circumstance that the finalized price is higher than the original reference price), the Buyer shall pay the balance amount within **** days after the price,
quantity and product mix is determined according to Article 4.2. 
	 

 The remaining payment: 

 

	 	•	 	 ****% for each shipment shall be paid by D/P at sight against Bill of Lading upon the arrival of each shipment at the destination port.

  

	 	•	 	 ****% of the first **** MW shipments will be paid by D/P at sight against Bill of Lading upon arrival of last shipment of **** MW of committed quantity
at destination port. 

  
  

	****	Confidential material omitted and filed separately with the Commission. 

  
 3 

  

	 	•	 	 Starting from March to June 2011 shipments, ****% of remaining balance of monthly shipments will be paid by D/P at sight against Bill of Lading upon
arrival of last monthly shipment at destination port. 

 The Seller shall be entitled to adjust the Expected Time of Shipment
and the Committed Quantity agreed in the Article 4.2, in case the Buyer delays to make payment in accordance with this Article 4.3. 
 If the
Seller provides PI in accordance with the Contract, the Buyer shall make payment according to PI, otherwise the Buyer shall pay ****% of the due payment per week as liquidated damages. If the late payment lasts for more than **** weeks, the Seller
shall be entitled to terminate this Contract and retain the unabsorbed Down Payment. 
 4.4 Shipment 

The Goods shall be shipped on or before the Expected Time of Shipment agreed in the Article 4.2, only provided that all purchase price, including the down
payment, has been paid by the Buyer according to Article 4.3 of this Contract. 
 The Buyer and the Seller agree on a **** grace period for late
shipment starting from the Expected Time of Shipment. After this delay, the Seller shall pay liquidated damages of ****% of the amount of the PI for the delayed Goods per week until the actual shipment date. However, the maximum liquidated damages
shall not exceed ****% of the amount of the PI for such delayed Goods. 
 Risk of loss and damage will be transferred from Seller to Buyer
immediately after such Goods has passed over the ship rail at the shipment port. However, the title to each shipment shall be passed to Buyer only after the payment for such shipment has been received in full. 

The Seller’s responsibilities for insuring the goods shall be subject to the terms under Incoterms. The goods should be insured at a minimum of
****% of the commercial invoice value for the shipment. 
 Delivery is to be done as per Incoterms 2000 CIF (Major Italian Port, including
Ravenna). 
 4.5 Take or Pay 
 The
purchase of the first **** MW is a “take or pay” obligation on the part of the Buyer such that Buyer is absolutely and irrevocably required to accept and pay for the first **** MW over the period at the price set forth in Article
4.2(“Confirmed Quantities”). In the event that Buyer fails to take any or all shipments of delivery of its Confirmed Quantity in a given period, Seller shall invoice Buyer at the end of the contract period the ****% of the Confirmed
Quantity. Buyer shall pay such amount within **** days immediately after the invoice date. Payment of such amount shall be deemed to be liquidated damages for Buyer’s breach of its obligation to purchase the Confirmed Quantity. Once the
Committed Quantity for the period from March 2011 to June 2011 is finalized by both Parities in accordance with Article 4.2, such Committed Quantity shall become part of the Confirmed Quantities with same take or pay obligation. 

  
  

	****	Confidential material omitted and filed separately with the Commission. 

  
 4 

 In case the Committed Quantity for the period commencing from March 2011 to June 2011 is decreased by the
Buyer before or at the date specified in article 4.2, totally or partially, as provided in article 4.2, under which circumstance the unabsorbed Down Payment shall be deemed as payment for purchase of Goods at the price of the relevant month (in case
of total cancellation, the price of previous month) and the delivery schedule shall be subject to agreement by both parties. 
 4.6 Currency
Fluctuation: 
 The benchmark rate applicable to the price of the Goods of this Contract shall be 1 EURO= 9.2576RMB (“Benchmark Rate”).
Should the applicable exchange rate between EURO and RMB (refer to: www.boc.cn/sourcedb/whpj/enindex.html) to any monthly purchase order fluctuate above or below more than ****% of Benchmark Rate, then such price under the Contract shall be adjusted
to reflect the corresponding rate change. However, this Article 4.6 shall not apply to the first **** MW. 
 4.7 Seller’s Bank Account:

 Bank Name CHINA MERCHANTS BANK, NANCHANG BRANCH 
 Address NO.468 DIESHAN ROAD, NANCHANG CITY, JIANGXI PROVINCE, CHINA 
 SWIFT CMBCCNBS284 

BENEFICIARY’s Name JINKO SOLAR IMPORT AND EXPORT CO.,LTD. 
 BENEFICIARY’s Address Xuri District, Shangrao Economic Development Zone, Jiangxi Province, CHINA 
 BENEFICIARY’s A/C 791904342932601 
  

	5.	Warranty 

 The warranty period for
material defects and workmanship is 5 (five years) from the date of Shipment. The warranty period with respect to power output continues for a total of 25 years from date of Shipment, the first 12 years at 90% rated power output at STC and up to 25
years at 80% rated power output at STC. 
  

	6.	Termination 

 In addition to the
Circumstance stipulated in the Article 4.3, Article 8 and the Article 11, either party shall be entitled to terminate the Contract, if the other party is bankrupt, liquidated or insolvent. 

  
  

	****	Confidential material omitted and filed separately with the Commission. 

  
 5 

  

	7.	Confidentiality 

 Either party undertakes
that it and its directors, officers, employees, representatives, agents, Contractors or affiliates will fully respect the confidentiality of internal business affairs of the other party. Each of the parties hereby undertakes to treat as confidential
all information obtained from the other party or communicated to the receiving party pursuant to this Contract (or through discussions or negotiations prior to the Contract being entered into) or acquired in the performance of the Contract, and will
not divulge such information to any person (except to its own employees and then only to employees who need to know the same) and will use such information solely in connection with performing its obligations under this Contract and not for its own
benefit or for the benefit of any third party, provided that this Article shall not extend to information: 
  

	A.	which is rightfully in possession prior to the commencement of the negotiations resulting in the Contract; or, 

 

	B.	which is already public knowledge or becomes so at a further date (other than as a result of breach of this Article); or, 

 

	C.	which is communicated or disclosed to the receiving party by a third party lawfully in possession thereof and entitled so to disclose it. 

However one party or its affiliate (including parent company, branch or subsidiary) may disclose the content of this Contract if so required by local law
or relative government where such party or its affiliate is located. 
 As required by the applicable securities laws and stock and securities
regulatory authority, either party may file a copy of this Contract or disclose information regarding the provisions hereof or performance hereunder. 
  

	8.	Force Majeure 

 Neither party shall be
liable for failure to perform its obligations under the Contract if such failure results from circumstances beyond such party’s reasonable control. Therefore, there is no right to claim any indemnification for such a Force Majeure event which
includes fire, flood, typhoon, earthquake, strike and other unforeseeable and unavoidable events. 
 The affected party will notify the other
party as soon as reasonably practicable after the Force Majeure event occurring, and use reasonable endeavors to mitigate the effect of the event and to put right the Force Majeure event as soon as possible. 

In case, the Force Majeure occurrence continues for a prolonged period more than 10 weeks, then the Seller or the Buyer shall have the right to terminate
the Contract. 
 Notwithstanding any of the foregoing, Force Majeure shall not apply to obligation of either Party to make payments under this
Contract. 
  

	9.	Governing Law 

 This Contract shall be
construed under and governed by the laws of Germany. 

  
 6 

  

	10.	Arbitration 

 All disputes in connection
with this Contract or the execution thereof shall be settled through amicable negotiations. In cases no settlement can be reached, the case may then be submitted for arbitration to the Chinese-European Arbitration Center in Hamburg, GERMANY
arbitration in accordance with its Arbitration Rules in effect at the time of applying for arbitration. The arbitration shall take place in Hamburg, GERMANY, and the decision of the arbitration tribunal shall be final and binding upon both parties;
neither party shall seek recourse to a court of law or other authorities to appeal for a revision of the decision. The arbitration fee shall be borne by the losing party. 

 

	11.	Liabilities 

 The Seller limits the
liability in respect of any loss or damage whether to property or otherwise, or death or injury to persons arising out of or in connection with the supply of the Goods to a maximum indemnity equivalent to the value of the Goods. 

In no event will any party be liable to the other party for loss of profits or for any indirect, incidental, consequential, special, or exemplary damages
arising from the breach of this agreement, regardless of the type of claim and even if that party has been advised of the possibility of such damages. 
 Based on the requirement of Seller’s commercial strategy, Buyer warrants that it shall not resell Seller’s Product into the country of Israel, failing of which Buyer shall be fully responsible
for all of loss of Seller. 
 Buyer shall be responsible for any loss arising from its failure upon timely receipt of the Product of Seller at
the destination port. 
 In case that any party terminates the Contract unilaterally without good cause as
indicated in Article 6, the terminating party shall pay liquidated damages equal to **** % of a value of the related period’s Committed Quantity (1st lot- **** MW, 2nd – **** MW, 3rd – **** MW, 4th – **** MW, 5th – **** MW) to the other party without limiting the other party’s other rights under the Contract.

  

	12.	Variation 

 No amendment to or variation
of this Contract shall be effective unless made in writing and signed by the duly authorized representatives of both parties hereto. 
  

	13.	Assignment 

 Each party shall not in whole
or in part, assign, sell, mortgage its interests or rights under this Contract to any third party unless the other party has provided prior written notice of such intention to this party. 

 

	14.	Notices 

  

	•	 	 All notice shall be written in English and served to the other party by e-mail, fax or courier to the addresses as provided on first page of this
Contract. 

  
  

	****	Confidential material omitted and filed separately with the Commission. 

  
 7 

  

	•	 	 If any changes of the addresses occur, the party, whose address has been changed, shall inform the other party of
the change of its address within 10 days after the change. 

  

	15.	Third Party 

 Nothing in this Contract is
intended to confer on any person who is not a party hereto any right to enforce any term of this Contract. 
  

	16.	Severance 

 If for any reason any
provision contained in the Contract is declared illegal void or unenforceable, all other provisions contained in the Contract shall not be affected and accordingly shall remain in full force and effect. 

 

	17.	Language 

 This Contract is drafted in
Chinese and English. In case of any discrepancy between the two versions, the English version shall prevail. This contract is executed in duplicate. Each party holds one version with the same effectiveness. 

 

	18.	Entire Agreement 

 This contract together
with its appendix (if any) shall constitute the entire agreement of the Parties with respect to the subject matter herein, and shall supersede all other prior agreements, understandings, and negotiations, both written and oral, between the parties
hereto. 
  

	19.	Appendixes 

 Any Appendix of this Contract
listed below constitutes part of this Contract. If there is any conflict between this Contract and the Appendixes, the content of this main Contract shall prevail. 
 IN WITNESS WHEREOF, the parties have signed this Contract as of the date first set forth above. 

Signature and sealed: 
 /s/ Jinko Solar
Import and Export Co., Ltd. 
 /s/ Li Xiande 
 For and on behalf of 
 Jinko Solar Import and Export Co., Ltd. 

Signature and sealed: 
 /s/ Tozzi Sud
SpA 

  
 8 

  
 /s/ Franco Tozzi 

For and on behalf of Tozzi Sud SpA 

[Vice-President ] 
 List of Appendixes

  

			
	 Appendix 1
	  	Limited Warranty Policy—Jinko Warranty

[The remaining part is intentionally left blank] 

  
 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}]]