Document:

exv4w8

EXHIBIT 4.8

English Translation for Reference

3rd Supplementary Agreement to Multi-crystalline Solar Wafer Supply Contract

Agreement No.: CSI-ZN101015

	Party A:	 	CSI Cells Co., Ltd.
	 
	Party B:	 	Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd.
	 
	Party C:	 	GCL (Nanjing) Solar Energy Technology Company Limited

Jiangsu GCL Silicon Material Technology Development Co., Ltd.

Changzhou GCL Photovoltaic Technology Co., Ltd.
	 
	Party D:	 	Suzhou GCL Photovoltaic Technology Co., Ltd.

WHEREAS:

	1.	 	Both Party A and Party B have executed the solar wafer supply contract (buyer’s contract no.:
CSI-ZN80818-B), its supplementary agreement (buyer’s contract no.: CSI07-09-P0066) and its
supplementary agreement to solar wafer supply contract (contract no.: CSI-ZN100323). Both parties
agree that Party A shall purchase certain quantity of wafers from Party B and Party B shall supply
certain quantity of wafers to Party A.
	 
	2.	 	The four parties, Parties A, B, C and D, executed the 2nd supplementary agreement to solar wafer
supply contract (“2nd Supplementary Agreement”, contract no. CSI-ZN100810). All the contracts and
agreements mentioned in these clauses 1 and 2 hereinabove are collectively known as “Original
Contracts.”
	 
	3.	 	Parties C and D were added to become the parties to the Original Contracts pursuant to the “2nd
Supplementary Agreement”, and, together with Party B, become the “Sellers” of the Original
Contracts with respect to the wafer business.

Now based on the mutual understanding and mutual support, after friendly consultation, both parties
agree to amend the contractual parties of the Original Contracts and the payment method thereunder
as follows:

1

 

	1.	 	With effect from the date of signing this supplementary agreement, Parties B and C shall
withdraw themselves from being the “Sellers” to the Original Contracts and shall transfer all
of their rights and obligations (including the prepayment already made) under the Original
Contracts to Party D. Party D replaces Parties B and C and become the only “Seller” under the
Original Contracts and enjoys the rights and bears the obligations pursuant to the Original
Contracts. Parties B and C shall not bear the seller’s liabilities and obligations under the
Original Contracts and shall not enjoy the seller’s rights thereunder.
	 
	2.	 	Party D undertakes, acknowledges and understands the contents of the Original Contracts and
all the provisions of its annexes/schedules, and agrees to accept the bindings of all the
contents of the contracts and its annexes/schedules. Performance of the Seller’s obligations
under the Original Contracts by Party D to Party A shall be regarded as the performance of the
Seller’s obligations to the Buyer in the Original Contracts.
	 
	3.	 	In consideration that Party D accepts the transfer and becomes the “Seller” of the Original
Contracts, each party agrees that Parties B and C shall no longer bear any joint and several
guarantee liability hereunder and, simultaneously, that all the liabilities and obligations of
Parties B and C under the Original Contracts since the execution of this agreement shall be
totally removed.
	 
	4.	 	Pursuant to the agreement, Party A shall perform the liabilities and obligations under the
Original Contracts to Party D; in event that Party breaches the contract, Party D shall have
the right to make claims against Party A’s breach liabilities pursuant to the Original
Contracts.
	 
	5.	 	Party D’s specified bank account is : Agricultural Bank of China, Suzhou New District branch,
account 547601040022886.
	 
	6.	 	Since October 1, 2010 and until December 31, 2010, Party A shall, at least five days before
the delivery of each batch of products, pay the purchase amount of those delivery in full to
Party D’s specified bank account through telegraphic transfer.
	 
	7.	 	Each party undertakes that this supplementary agreement consists of the amendments to the
agreed contents of Original Contracts. Where this supplementary agreement is not consistent
with the Original Contracts, this supplementary agreement shall prevail. Both Buyer and
Seller shall perform the portions not mended in this supplemental agreement pursuant to the
Original Contracts. Each party shall strictly perform the obligations and bear the
liabilities pursuant to the Original Contracts and this supplementary agreement.
	 
	6.	 	This agreement is executed in twelve copies. Each party shall hold two copies. Each copy
shall have the same legal effect after it is signed and affixed with company chops.

(No text follows on this page)

2

 

(This is the signature page)

	 	 	 
	 
	 	 
	Party A: CSI Cells Co., Ltd.

	 	Party B: Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd.

	[Chop is affixed]

	 	[Chop is affixed]
	 
	 	 
	Signing Representative: /s/

	 	Signing Representative: /s/
	 
	 	 
	Signing Date: November 24, 2010

	 	Signing Date: November 24, 2010
	 
	 	 
	 
	 	 
	Party C: GCL (Nanjing) Solar Energy Technology
Company Limited

	 	Party D: Suzhou GCL Photovoltaic Technology Co., Ltd.

	[Chop is affixed]

	 	[Chop is affixed]
	 
	 	 
	Signing Representative:

	 	Signing Representative:
	 
	 	 
	Signing Date: November 24, 2010

	 	Signing Date: November 24, 2010
	 
	 	 
	Jiangsu GCL Silicon Material Technology
Development Co., Ltd.
	 	 
	 
	 	 
	[Chop is affixed]
	 	 
	 
	 	 
	Signing Representative:
	 	 
	 
	 	 
	Signing Date: November 24, 2010
	 	 
	 
	 	 
	 
	 	 
	Changzhou GCL Photovoltaic Technology Co., Ltd.
	 	 
	 
	 	 
	[Chop is affixed]
	 	 
	 
	 	 
	Signing Representative:
	 	 
	 
	 	 
	Signing Date: November 24, 2010
	 	 

3exv4w9

EXHIBIT 4.9

English Translation for Reference

4th Supplementary Agreement to Multi-Crystalline Solar Wafer Supply Contract

	 	 	 
	 

	 	Agreement No.: CSI-ZN101231

Signing Place: Suzhou

Signing Date: December 31, 2010

Buyer: CSI Cells Co., Ltd.

Address: No. 199 Lushan Road, Suzhou High New District, Jiangsu

Seller: Suzhou GCL Photovoltaic Technology Co., Ltd.

Address: No. 68 Kunlunshan Road, Suzhou High New District, Suzhou

Both parties executed the solar wafer supply agreement (buyer’s contract no.: CSI-ZN80818-B) and
its supplementary agreement (buyer’s contract no.: CSI07-09-P0066), supplementary agreement to
solar wafer supply contract (contract no.: CSI-ZN100323), 2nd supplementary agreement to solar
wafer supply contract (buyer’s contract no.: CSI-ZNI100810) and 3rd supplementary agreement to
solar wafer supply contract (contract no.: CSI-ZN101015.) (all the above contracts and
supplementary agreements are collectively known as “Original Contracts.”)

Therefore, upon the reiteration that the Original Contracts are still effective, both parties have
agreed, voluntarily and on the basis of equality, on amending the Original Contracts, including but
not limited to the performing prices, delivery plan, terms about prepayment, etc., as follows for
each party to comply with:

	1.	 	Product Details and Settlement of Purchase Prices:
	 
	1.1	 	Products and Purchase Prices

The Buyer agrees to purchase solar multi-crystalline wafers (hereafter “wafers”) from the Seller
from 2011 to 2015. The power shall be calculated based on 4 watt per piece as the output power of
each piece of multi-crystalline 156 wafer (the power in this clause is for calculation purpose only
and shall not represent the Seller’s undertaking of output power). Both parties agree to amend the
wafer supply plan for 2011, including the quantities and the prices, as stated in the Original
Contracts, according to the details set forth in Schedule 1 below; amend the wafer supply plan for
years from 2012 to 2015, including the quantities and the prices, according to the details set
forth in Schedule 2 below. Both parties agree to have further friendly consultation about the
wafer supply plan for years from 2016 to 2020.

1

 

Schedule 1 “2011 Supply Plan”

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	January	 	 	February	 	 	March	 	 	April	 	 	May	 	 	June	 	 	July	 	 	August	 	 	September	 	 	October	 	 	November	 	 	December	 	 	Total	 
	Multi-crystalline wafers (in 10,000 pieces)
	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 
	Tax-included unit price (RMB/piece)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	[****]*	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Equivalent to (megawatt)
	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 
	Amount (in RMB10,000)
	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 

	Remarks: 	 	The above tax-included unit price is based on the value-added tax rate of 17%. If the
value-added tax rate is adjusted, the tax-included unit price shall be adjusted accordingly.

Schedule 2 “2012-2015 Supply Plan”

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	2012	 	2013	 	2014	 	2015	 	Total
	Multi-crystalline wafers
(in 10,000 pieces)

	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 
	Equivalent to (megawatt)

	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 	 	 	[****]*	 

	Remarks: 	 	 
	 
	(1)	 	The above tax-included unit price is based on the value-added tax rate of 17%. If the
value-added tax rate is adjusted, the tax-included unit price shall be adjusted accordingly.
	 
	(2)	 	In December of each year, both parties shall determine the monthly supply quantity for the
next year according to the market situation. If agreement cannot be reach by December 31 of
the current year, the monthly supply quantity of the next year shall be the quantity not less
than the originally determined quantity.

Both parties agree, if the market price of polysilicon, the raw material of the wafer production,
increases, the Seller shall have the right to adjust the wafer price of [****]*% of the supply quantity
of the current month/year as set forth in the Schedules 1 and 2 accordingly. Both parties agree on
confirming the prices by the 20th of the prior month, with the principle that the price
after consultation shall not be higher than RMB[****]* per piece. If the agreement cannot be reached,
the wafer price of [****]*% of the current month supply quantity set forth in the Schedules 1 and 2
shall be RMB[****]* per piece. If the market prices of polysilicon, the raw material of the wafer
production, or the wafer itself drop, both Buyer and Seller may adjust the wafer prices as set
forth in the Schedules 1 and 2 accordingly, with the principle that the price after consultation
shall be lower than RMB[****]* per piece. In addition, the wafer prices shall be confirmed according
to the Original Contracts.

 

			
	*	 	This portion of the 4th Supplementary Agreement to Multi-Crystalline Solar Wafer Supply
Contract has been omitted and filed separately with the Securities and Exchange Commission,
pursuant to Rule 24b-2 under the Securities Exchange Act of 1934.

2

 

	1.2	 	The Seller agrees, starting from April 2011, if the Seller starts to produce 156
mono-crystalline wafers, the Seller undertakes to supply the wafers to the Buyer as the prime
customer at preferential prices with priority.
	 
	1.3	 	Payment of Purchase Price:

Three business days prior to the collection of the products every month, the Buyer shall pay the
current month purchase amount in full to the Seller through telegraphic transfer. This clause is
the obligation confirmed by the Buyer independently without any conditions attached thereto. If
there is no agreed changeable situations or if there is changeable situations but both parties have
not agreed unanimously on the new prices, the Buyer shall not refuse to perform this payment
obligation.

	2.	 	Offset of Prepayment:
	 
	2.1	 	The prepayment stated in the Original Contracts and this supplementary agreement has the
meaning of prepayment under the “Contract Law of People’s Republic of China.”
	 
	2.2	 	Both Buyer and Seller agree that in consideration that the Buyer paid the prepayment pursuant
to Original Contracts, the prepayment to be further paid by the Buyer for 2011 shall be
RMB[****]* (RMB[****]*), which shall be paid to the Seller in full
through telegraphic transfer before January 15, 2011.
	 
	2.3	 	Pursuant to the Original Contracts, the Buyer paid RMB[****]* to the Seller as prepayment.
Both parties unanimously agree that such prepayment will be transferred to be the prepayment for
2012 by the end of 2011.
	 
	2.4	 	The time to offset the prepayments paid by the Buyer pursuant to the Original Contracts and
this supplementary agreement shall be as follows: in 2011, the offset shall be based on RMB[****]* per
piece, the total offset amount shall be RMB[****]*. The prepayments for years from 2012 to
2015 shall be with referenced to the format in 2011, which is: prepay at the end of the prior year
the amount of current year purchase quantity at RMB[****]* per piece and offset the same amount in the
current year. That is, the prepayments of RMB[****]* shall be made at the end of 2011,
RMB[****]* at the end of 2012, RMB[****]* at the end of 2013 and RMB[****]* at the end
of 2014.
	 
	3.	 	Both Buyer and Seller undertake that this supplementary agreement consists of the amendments to
agreed contents of the Original Contracts. Where this supplementary agreement is not consistent
with the Original Contracts, this supplementary agreement shall prevail. Both Buyer and Seller
shall perform the portions not mended in this supplemental agreement pursuant to the Original
Contracts. Each party shall strictly perform the obligations and bear the liabilities pursuant to
the Original Contracts and this supplementary agreement.

 

			
	*	 	This portion of the 4th Supplementary Agreement to Multi-Crystalline Solar Wafer Supply
Contract has been omitted and filed separately with the Securities and Exchange Commission,
pursuant to Rule 24b-2 under the Securities Exchange Act of 1934.

3

 

	4.	 	The Buyer undertakes that since and including 2012, the quantity that the Buyer purchases from
the Seller as set forth in Schedule 2 shall not be lower than 50% of the wafer production (in
megawatt) publicly announced by its listed company (CSIQ) in the current year. Otherwise, the
Seller has the right to request the Buyer to adjust the Schedule 2 being the wafer quantity to be
purchased by the Buyer in the current year.
	 
	5.	 	The Buyer undertakes that within three years from the date of executing this agreement, the
total capacity (in megawatt) of the wafer projects already put into operation or already commenced
operation by the Buyer and its affiliated companies (meaning the onshore wholly-owned subsidiaries
held by Canadian Solar Inc.) shall not exceed 1GW. Otherwise, the Seller has the right to request
the Buyer to stop investing into the new wafer projects and its construction. If the Buyer does
not stop such actions, the Seller has the right to: (1) upon formal notification and after six
month of grace period, temporarily not to supply wafers to the Buyer pursuant to the Original
Contracts and this supplementary agreement until the Buyer stops the above actions; the prepayments
paid by the Buyer shall become the liquidated damages which shall be paid by the Buyer to the
Seller and shall not be returned, or (2) terminate the Original Contracts and this agreement; upon
termination, the prepayments paid by the Buyer pursuant to the Original Contracts and this
supplementary agreement shall become the liquidated damages which shall be paid by the Buyer to the
Seller and shall not be returned.
	 
	6.	 	If the Seller cannot perform the delivery obligations in the current year pursuant to clause 1
of the contact within the term of the contract, the Buyer has the right to request the Seller to
compensate the Buyer’s damages at the rate of RMB[****]* per piece. If the Buyer cannot perform the
purchase obligations in the current year pursuant to clause 1 of the contact within the term of the
contract, the Seller has the right to request the Buyer to compensate the Seller’s damages at the
rate of RMB[****]* per piece. The maximum compensation claimed shall be RMB[****]*.
	 
	7.	 	Both parties unanimously agree that in events of any non-performance of the Original Contracts
and this agreement caused by the natural disasters, wars or financial crisis, both parties shall
have the right to request for consultations on the Original Contracts and this agreement.
	 
	8.	 	Both Buyer and Seller unanimously confirm that the representatives signing this supplementary
agreement has obtained a sufficient authorization. This contract shall become effective when both
parties affix of the chops and sign this contract by the authorized signatories. Where this
supplementary agreement is not consistent with the Original Contracts, this supplementary agreement
shall prevail. Other contents [not mentioned herein] shall be performed pursuant to the Original
Contracts.
	 
	9.	 	Every page of this supplementary agreement shall be initialed by the authorized signatures or
affixed with the chops partially.
	 
	10.	 	Without both parties’ unanimous agreement, no party can unilaterally terminate or amend this
agreement.
	 
	11.	 	This contract is signed in four copies. Each of the Buyer and the Seller shall keep two copies.
Each copy shall have the same legal effect.

 

			
	*	 	This portion of the 4th Supplementary Agreement to Multi-Crystalline Solar Wafer Supply
Contract has been omitted and filed separately with the Securities and Exchange Commission,
pursuant to Rule 24b-2 under the Securities Exchange Act of 1934.

4

 

[This page is the signature page]

	 	 	 	 	 
	Seller: Suzhou GCL Photovoltaic Technology Co., Ltd. (Chop)

[Chop is affixed]

Signature of legal representatives or authorized representative: 

 	 	 
	/s/
 	 
	 	 	 	 
	 	 	 
	 
	Buyer: CSI Cells Co., Ltd. (Chop)

[Chop is affixed]

Signature of legal representatives or authorized representative: 

 	 	 
	/s/
 	 
	 	 	 	 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00189-of-00352.parquet"}]]