Document:

Unassociated Document

     

    
      	
              EXHIBIT
                10.1

              REDACTED
                COPY

            	 
	 	 
	
              DeWind Ltd.

            	
              DEWIND

            

    

     

    
 

    Sales
      Agreement

    

    for
      the delivery of 40 wind energy turbines

    of
      the type

    

    D8-2000-80-80
      DIBT II

    

    to
      the Czech Republic for 2008 and 2009 

    

    between

    

    S&M
      CZ s.r.o.

    Trébovska
      809

    Jevicko
      569 43 / Czech Republic

    (hereinafter
      called the Buyer)

    

    and

    

    DeWind
      Ltd.

    Seelandstrasse
      1

    D
      - 23569 Lübeck

    (hereinafter
      called the Supplier)

    

    [initials]

     

     

     

    ***** This material has been omitted pursuant to a request
      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    Table
      Of Contents

    

      
        	
                SECTION
                  1. SUMMARY

              	
                3

              
	 	 	 
	
                SECTION
                  2. PRICE LIST AND BUSINESS CONDITIONS

              	
                3

              
	
                §
                  2.1.

              	
                Price
                  List

              	
                3

              
	
                §
                  2.2.

              	
                Business
                  Conditions 

              	
                4

              
	
                 

              	 	 
	
                SECTION
                  3. THE SCOPE OF DELIVERY

              	
                11

              
	 	 	 
	
                SECTION
                  4. CHARACTERISTICS AND PERFORMANCE

              	
                15

              
	
                §
                  4.1.

              	
                General
                  WET performance data 

              	
                15

              
	
                §
                  4.2.

              	
                Performance
                  characteristic

              	
                15

              
	
                §
                  4.3.

              	
                Noise
                  emission

              	
                17

              
	
                §
                  4.4.

              	
                WET
                  availability 

              	
                18

              
	
                §
                  4.5.

              	
                Site
                  considerations

              	
                22

              
	
                §
                  4.6.

              	
                Compliance
                  with grid requirements

              	
                22

              
	 	
                 

              	
                 

              
	
                SECTION
                  5. SERVICE SUPPORT

              	
                23

              
	
                §
                  5.1.

              	
                Remote
                  monitoring 

              	
                23

              
	
                §
                  5.2.

              	
                Routine
                  maintenance 

              	
                23

              
	
                §
                  5.3.

              	
                Storage
                  of replacement parts 

              	
                25

              
	
                §
                  5.4.

              	
                The
                  Buyer’s responsibilities 

              	
                25

              
	
                 

              	 	
                 

              
	
                APPENDIX
                  1. TECHNICAL DOCUMENTS

              	
                26

              
	
                APPENDIX
                  2. TECHNICAL SPECIFICATIONS AND DESCRIPTION

              	
                28

              
	
                APPENDIX
                  3. TECHNICAL SPECIFICATIONS OF THE NACELLE

              	
                42

              
	
                APPENDIX
                  5. DEVIATIONS FROM EMPLOYER SPECIFICATIONS

              	
                47

              
	
                APPENDIX
                  6. REFERENCE LIST AND SUPPORTING DOCUMENTS

              	
                48

              

      

    

    
      [initials]

       

      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

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                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    SECTION
      1.   Summary      

    This
      sales agreement describes the scope of the delivery:

    

    
      	 	
              ·

            	
              40
                wind energy turbines (hereinafter: WET) of the DeWind D8 type, with
                a
                nominal output of 2000 kW each, a rotor diameter of 80 m and a hub
                height
                of between 80 m and 100 m, 

            

    

    

    
      	 	
              ·

            	
              The
                Supplier’s scope of delivery includes the assembly and start-up,
                connection to the grid and to the telecommunications network, as
                well as
                the electrical grounding of all 40 WET’s to the upper part of the
                foundation (such as defined in Section 3). The masts and the foundation
                mounts must be ordered separately by the Buyer and comply with DeWind
                specifications.

            

    

    

    
      	 	
              ·

            	
              WET
                service and maintenance work with a 2-year warranty.
                

            

    

    

    
      	 	
              ·

            	
              The
                validity of the Agreement is contingent upon the consent of the Board
                of
                Directors of DeWind Ltd. (conditional management) and the Executive
                Committee of the bank that is providing the Buyer’s financing. A final
                decision by the aforementioned Committee must be made no later than
                10.31.2007, otherwise neither the Buyer nor the Supplier will be
                bound by
                the Agreement.

            

    

    

    Section
      2.   Price
      List and Business Conditions

    

    
      	2.1	
              Price
                List

            

    

    The
      following prices are related to the scope of delivery as defined in Section
      3 of
      this Sales Agreement, in the currency cited below, and under the conditions
      named in this section. These fixed prices are for the quantities to be shipped
      for the year 2008 and 2009.

    The
      calculation is based on a steel price index of 700.00 €/t
      and a
      DEL listing (Deutsches
      Elektrolytkup-fer
      für Leitzwecke
      -
      [German Electrolytic Copper for Conductors]) -of 550.00 €/100
      kg.

    
      	
              Quantity

            	
              Description

            	
              Price
                per WET

            	
              Total
                price for 2009 delivery

            
	
              40

            	
              Wind
                energy turbines Type D8-2000-80 DIBT II, consisting of nacelle, hub,
                rotor, including the mounting and start-up, as well as the mast
                specifications, including drawings for output cables, drive mechanisms
                and
                foundation mounts so that the Buyer can order the completely outfitted
                mast separately. The release of this information is exclusively to
                comply
                with the sales agreement’s warranty, 

            	
              1,536,000
                €

            	
              61,440,000
                €

            

    

    [initials]

     

    ***** This material has been omitted pursuant to a request
      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
      
        	
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                DeWind Ltd.

              	
                DEWIND

              

      

    

    

    
      	
              40

            	
              including
                Service and Maintenance, for 2 years as well as basic service training
                for
                4 qualified employees of the Buyer.

            	
              included
                in the price of the WET

            	 
	 	
              Total
                price

            	
              1,536,000
                €

            	
              61,440,000
                €

            

    

    

    The
      aforementioned prices are to be understood as net, exclusive of the applicable
      sales taxes, levies, charges or other costs. If additional services are
      required, or separately ordered by the Buyer, the Buyer must absorb the extra
      costs at the Supplier’s usual rates. The Supplier will inform the Buyer in
      writing of the usual cost of other services immediately when an order for such
      is placed, and at the latest when said order for additional services is
      confirmed. 

    

    The
      aforementioned prices are binding for the 40 WET’s release order, to be effected
      no later than 10.31.2007, and for their delivery, assembly, and start-up no
      later than the end of the 4th
      Quarter
      of 2009.

    

    The
      Buyer’s rights to the annual quantity or a partial-year quantity may not be
      transferred to a Project Team or Group of Investors without prior approval
      by
      the Supplier.

    

    
      	2.2	
              Business
                Conditions

            

    

    

    
      
        
          	2.2.1	
                  Completion
                    Time

                

        

      

    

    

    A
      schedule, in which the overall time frame and the delivery date for each project
      are fixed, is to be agreed upon by both Parties for project-related binding
      purchase orders. The project schedule is a part of this Agreement, and is
      binding for both Parties to the Agreement, unless the delivery date is delayed
      by circumstances beyond the control of the Supplier.

    

    For
      Allotment I (16 WET’s), an agreement was reached on the following due dates and
      contractual penalties:

    

    In
      accordance with the payment conditions of 2.2.3, the delivery and start-up
      for
      the first 10 WET’s of Allotment I will occur no later than 12.31.2008, and for
      the remaining 6 WET’s of Allotment I, the delivery and start-up will occur no
      later than 3.31.2009 (project-related schedule, see above).

    

    For
      Allotment II (24 WET’s), an agreement was reached on the following deadlines and
      contractual penalties:

    [initials]

     

    *****
      This material has been omitted pursuant to a request for confidential treatment
      and filed separately with the Securities and Exchange Commission.

    
       

      
        
          
          

        

        
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                  DEWIND

                

        

      

    

    

    The
      delivery and start-up for the wind energy turbines of Allocation II shall take
      place pursuant to the conditions of the payment terms under 2.2.3 by 12/31/2009,
      latest (see above for Project timeline).

    

    In
      the
      event that the wind energy turbines are not delivered in a timely manner and
      if
      they are solely a result of contractor’s actions, then contractor shall
      reimburse client a delay fee in the amount of *****% of the purchase price
      of
      the respective wind energy turbine for each day begun up to a maximum of *****%
      of the purchase price including capital costs, which have been incurred as
      a
      result of the late delivery of said wind energy turbine up to a maximum of
      *****
€/day. There shall be no further right for any reason, to any further
      compensation resulting from the default.

    

    Contractor
      shall not be responsible for any lack of network connection or for any lack
      of
      network compatibility by a third party, for example, for reasons based on a
      previously existing network overload. In addition, any claim for compensation
      for default shall be excluded for changes in the legal position if they have
      a
      significant impact on the timeframes outlined in this contract. Contractor
      shall
      not be responsible for any lack of regulatory approvals.

    

    Contractor
      shall not be in default if client does not fulfill his contract responsibilities
      as stated in Paragraph 3.

    

    
      	2.2.2	
              Delivery
                location

            

    

    

    This
      framework purchase agreement is based on the availability of the individual
      pieces of equipment in contractor’s factory (FCA Lübeck, Hamburg or Bremerhaven
      (INCOTERMS 2000)). The transport of the equipment to the construction site
      as
      well as the supply of the necessary cranes for their installation are not
      included in the framework of the commission and are the responsibility of the
      client who is also to be responsible for transport and crane expenses.
      Contractor must document the start of the [equipment] transport.

    

    
      	2.2.3	
              Payment
                terms and default conditions

            

    

    

    For
      Allocation I (16 wind energy turbines), the payment terms are as
      follows:

    

    
      	 	
              Client
                is to provide upon first request, a payable bank guaranty by 11/15/2007
                (see also 2.2.4) in the amount of *****€ covering the entire purchase
                price of the agreed upon delivery and performance of the order for
                Allocation I (16 wind energy turbines).

            
	 	 
	
              5%

            	
              of
                the total price of the agreed upon delivery and performance of the
                order
                for Allocation I (16 wind energy turbines) in the amount of *****€ by
                01/31/2008, at the latest. 

            
	 	 
	
              15%

            	
              of
                the total price of the agreed upon delivery and performance of the
                order
                for Allocation I (16 wind energy turbines) in the amount of *****€ by
                03/15/2008, at the latest.

            

    

     

    [initials]

     

    
      *****
        This material has been omitted pursuant to a request for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      
        
          	
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                  DEWIND

                

        

      

    

    

    
      	
              5%

            	
              of
                the total price of the agreed upon delivery and performance of the
                order
                for Allocation I (16 wind energy turbines) in the amount of *****€ by
                05/15/2008, at the latest.

            
	 	 
	
              20%

            	
              of
                the total price of the agreed upon delivery and performance of the
                order
                for Allocation I (16 wind energy turbines) in the amount of *****€ by
                06/30/2008, at the latest.

            
	 	 
	
              50%

            	
              of
                the individual purchase price for one wind energy turbine for the
                agreed
                upon delivery and performance of the order for Allocation I (16 wind
                energy turbines) in the amount of *****€ per turbine, to be made upon
                notification by FCA Lübeck, Hamburg or Bremerhaven that delivery is
                ready.

            
	 	 
	
              5%

            	
              of
                the individual purchase price for one wind energy turbine for the
                agreed
                upon delivery and performance of the order for Allocation 2008 (16
                wind
                energy turbines) in the amount of *****€ per turbine which follows the
                start-up of each individual wind energy turbine (based upon the date
                of
                the start-up outline as filled out by contractor), and which is to
                be paid
                no later than 3 weeks following notification that start-up is ready
                and as
                long as there are no impediments by contractor which would prevent
                the
                start-up. 

            

    

     

    For
      Allocation II (24 wind energy turbines), the payment terms are as
      follows:

    

    
      	 	
              Client
                is to provide upon first request, a payable bank guaranty by 03/31/2008
                (see also 2.2.4) in the amount of *****€ covering the entire purchase
                price of the agreed upon delivery and performance of the order for
                Allocation II (24 wind energy turbines).

            
	 	 
	
              5%

            	
              of
                the total price of the agreed upon delivery and performance of the
                order
                for Allocation II (24 wind energy turbines) in the amount of *****€ by
                01/31/2009, at the latest.

            
	 	 
	
              15%

            	
              of
                the total price of the agreed upon delivery and performance of the
                order
                for Allocation II (24 wind energy turbines) in the amount of *****€ by
                03/15/2009, at the latest.

            
	 	 
	
              5%

            	
              of
                the total price of the agreed upon delivery and performance of the
                order
                for Allocation II (24 wind energy turbines) in the amount of *****€ by
                05/15/2009, at the latest.

            
	 	 
	
              20%

            	
              of
                the total price of the agreed upon delivery and performance of the
                order
                for Allocation II (24 wind energy turbines) in the amount of *****€ by
                06/30/2009, at the latest.

            
	 	 
	
              50%

            	
              of
                the individual purchase price for one wind energy turbine for the
                agreed
                upon delivery and performance of the order for Allocation II (24
                wind
                energy turbines) in the amount of *****€ per turbine, to be made upon
                notification by FCA Lübeck, Hamburg or Bremerhaven that delivery is
                ready.

            
	 	 
	
              5%

            	
              of
                the individual purchase price for one wind energy turbine for the
                agreed
                upon delivery and performance of the order for Allocation II (24
                wind
                energy turbines) in the amount of *****€ per turbine which follows the
                start-up of each individual wind energy turbine (based upon the date
                of
                the start-up outline as 

            

    

     

    [initials]

     

    
      *****
        This material has been omitted pursuant to a request for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    filled
      out by contractor), and which is to be paid no later than 3 weeks following
      notification that start-up is ready and as long as there are no impediments
      by
      contractor which would prevent the start-up.

    

    The
      payments are due, without deductions, within 28 days of the invoice date. Should
      client fail to pay by the delivery date agreed upon in the initial order an
      amount which is 95% of the total price of a requested item, then the contractor
      is authorized to deny the start-up of the wind energy turbine in question.
      The
      contractor’s denial to start up shall not be deemed a breach of the contract and
      is not subject to any contract penalty. Furthermore, in the event that payment
      is made after the 28-day limit, then contractor may bill client penalty interest
      equal to 5 percentage points above the base interest rate which is to be
      calculated on the gross amount still outstanding. The contractor may claim
      further damages which may arise from the economically sound storage, insurance
      or maintenance of the wind energy turbines.

    

    
      	
              2.2.4

            	
              Collateral
                and bank guaranties

            

    

    

    Client
      must provide the following collateral and bank guaranties:

    

    For
      Allocation I (16 wind energy turbines) client is to provide a bank guaranty
      no
      later than 11/15/2007 and for Allocation II (24 wind energy turbines) a bank
      guaranty no later than 03/31/2008 which should equal 100% of the net total
      contractual price as listed in Paragraph 2.1 of this document (i.e., *****€ and
      *****€, respectively). Following payment of the installments listed in Paragraph
      2.2.3, contractor shall release client from the bank guaranties in an amount
      equal to the respective installment made. 

    

    
      	
              2.2.5

            	
              Start-up

            

    

    

    Start-up
      of a wind energy turbine shall mean the time period from the point at which
      the
      necessary duties of contractor are performed -with the goal of providing a
      proper functioning of the wind energy turbine- to the time at which the first
      kWh (kilowatt hour) is stored in the network. Contractor is responsible for
      the
      supervision of the start-up. If necessary, client shall provide the personnel
      needed in order to assist with the start-up. Client shall also have the right
      to
      name a representative who is present during the start-up. Start-up date shall
      be
      documented by contractor on a start-up timeline which has been signed by
      contractor or one of his assistants and which shall be provided to client in
      duplicate within two weeks following the start-up date. 

    

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    If
      connection to the network cannot be accomplished within the timeframe given
      by
      client in the project timetable, then it is the responsibility of the client
      to
      provide alternative solutions which can ensure the secure functioning of the
      wind energy turbine until such connection is made available. If, after
      contractor has completed work, start-up is not possible for lack of a network
      connection or lack of an alternative means to produce the turbine’s
      functionality, then the start-up date that applies shall be that date on which
      the wind energy turbine is made technically available and which the contractor
      must verify on a special timetable. Any supplemental costs incurred from the
      client’s failure to provide connection to the network in a timely manner are to
      be borne by client.

     

    
      	
              2.2.8

            	
              Trial
                phase 

            

    

    

    The
      trial
      phase shall be defined as the time period following the start-up of the wind
      energy turbine during which the wind energy turbine is tested. The trial phase
      shall begin immediately after the start-up of the wind energy turbine if there
      are no other written communications by contractor.

    

    The
      trial
      phase shall have a length of 10 calendar days. During this time, the wind energy
      turbine must operate at an average technical availability of at least 90% based
      on the definition of availability in Paragraph 4.4 of this document. If the
      average availability falls below 90%, then the trial phase shall be lengthened
      automatically until this percentage is attained for an ongoing period of 10
      calendar days.

    

    If
      it
      should be necessary to repair or replace one of the wind energy turbines
      components such as the gearbox, inverter, generator or rotary blades during
      the
      trial phase, and the respective wind energy turbine must be turned off for
      this
      reason for more than two calendar days, then the trial phase shall begin anew
      for 10 calendar days after the damaged part is repaired or replaced and the
      wind
      energy turbine is again ready for operation.

    

    After
      completion of the trial phase the contractor shall provide client with a written
      confirmation indicating the conclusion of the trial phase.

    

    
      	
              2.2.9

            	
              Warranty
                period

            

    

    

    The
      warranty period during which contractor is responsible for eliminating the
      wind
      energy turbine’s defects and damages shall be two years. This begins with the
      date of the conclusion of the wind energy turbine’s trial phase or a maximum of
      30 months from the date indicated as the agreed upon delivery date in the
      initial order, whichever of these dates shall occur first.

     

    
      	
              2.2.10

            	
              Availability
                period

            

    

     

    [initials]

    
      *****
        This material has been omitted pursuant to a request for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    The
      availability period is the time period during which the blanket compensation
      for
      damages is applicable for the technical availability as defined in Paragraph
      4.4
      of this document. This time period has duration of two years and begins with
      the
      date marking the conclusion of the trial phase of the respective wind energy
      turbine but no later than two months after the start-up of the wind energy
      turbine as indicated in the timetable.

    

    
      	
              2.2.11

            	
              Extent
                of delivery and technical changes

            

    

    

    Contractor
      reserves the right to undertake detailed changes to the construction and
      specifications of the wind energy turbine and its appropriate accessories at
      any
      time. Such changes will not hinder the contractual usefulness of the wind energy
      turbine but could alter the detailed specifications, appearance and parts’
delivery sources or construction groups. All of the wind energy turbine’s
      specifications contain typical features pursuant to this framework purchase
      agreement and no contractual assurances of the use of the mentioned
      specifications. 

    

    Such
      changes will not have any influence on the environmental tolerance studies
      or
      the procedure for testing environmental tolerance nor will it have any impact
      on
      the conditions of the construction authority.

    

    Any
      information contained in this contract which has been submitted by contractor
      at
      the request of client for the purpose of adhering to regulatory requirements
      must first be confirmed by the contractor as project-specific before it may
      be
      forwarded to a third party.

    

    
      	
              2.3

            	
              Supplemental
                conditions

            

    

    

    
      	
              2.3.1

            	
              Offsetting
                and Assignment Provisions

            

    

    

    The
      client is not permitted to use any claims to offset any compensation or any
      other claims with contractor which may be present in another contractual
      agreement entered into with him unless they are undisputed or legally valid
      counterclaims of client.

    

    
      	
              2.3.2

            	
              Applicable
                law

            

    

    

    For
      all
      of the legal relationships between the parties of this contract only German
      law
      shall apply with the exception of the UN Convention on Contracts for the
      International Sale of Goods (CISG) dated 04/11/1980.

    

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      
        
          	
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                  DEWIND

                

        

      

    

    

    
      	
              2.3.3

            	
              Written
                Communication clause

            

    

    

    Changes
      and supplements to this contract are to be made in writing. This also applies
      to
      the written communication clause.

    

    
      	
              2.3.4

            	
              Fulfillment
                location

            

    

    

    The
      location of fulfillment for deliveries by contractor is Lübeck, or
      alternatively, Hamburg or Bremerhaven, Germany and for performance (assembly,
      start-up, service & maintenance), it is the Czech Republic.

    

    
      	2.3.5	
              Court
                of Law

            

    

    

    The
      Court
      of Law for lawsuits which may stem from this contract shall be Prague, Czech
      Republic.

    

    
      	
              2.3.6

            	
              Safeguard
                clause

            

    

    

    In
      the
      event that certain terms of this contract are or shall become void, then the
      contract as a whole shall remain unaffected. Rather, the contract parties shall
      be obligated to replace the void terms with terms that most closely convey
      the
      intended purpose. This shall also apply in the case of a regulatory
      gap.

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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                  DEWIND

                

        

         

      

    

    
      	
              3.

            	
              Scope
                of Delivery

            

    

    
      	
              ITEMS

            	
              Scope
                of delivery

              Contractor

            	
              Services

              Principal

            
	
              3.1.

            	
              WET
                main components (as specified in Annex 2 As.1)

            	 	 
	
              3.1.1

            	
              Rotor
                blades

            	
              X

            	
              -

            
	
              3.1.2

            	
              Hub

            	
              X

            	
              -

            
	
              3.1.3

            	
              Nacelle
                (see details in Annex 3)

            	
              X

            	
              -

            
	
              3.1.4

            	
              Tower

            	
              -

            	
              X

            
	
              3.1.5

            	
              Foundation
                fitting

            	 	
              X

            
	
              3.2.

            	
              Transformer
                station (as specified in Annex 2 A2.2)

            	 	 
	
              3.2.1.

            	
              Earthwork
                and construction of foundation

            	
              -

            	
              X

            
	
              3.2.2.

            	
              Delivery
                and installation of transformer and switching station

            	
              -

            	
              X

            
	
              3.2.3.

            	
              Connection
                of the low voltage cabling to the transformer station

            	
              -

            	
              X

            
	
              3.2.4.

            	
              Connection
                of measurement voltage cabling to transformer station

            	
              -

            	
              X

            
	
              3.2.5

            	
              Grounding
                certificate for the transformer station

            	
              -

            	
              X

            
	
              3.2.6.

            	
              Completion
                report and quality certificate according to the contractor’s
                specifications

            	
              -

            	
              X

            
	
              3.3

            	
              Mains
                voltage cabling (as specified in Annex 2 A2.3)

            	 	 
	
              3.3.1.

            	
              Excavation
                and filling of the cable trenches

            	
              -

            	
              X

            
	
              3.3.2.

            	
              Delivery
                and laying of the cables

            	
              -

            	
              X

            
	
              3.3.3.

            	
              Connection
                of the mains voltage cabling to the WET

            	
              X

            	
              -

            
	
              3.3.4.

            	
              Completion
                report and quality certificate according to the contractor’s
                specifications

            	
              -

            	
              X

            
	
              3.4.

            	
              Measurement
                voltage cabling (as specified in Annex 2 A2.4)

            	 	 
	
              3.4.1.

            	
              Excavation
                and filling of the cable trenches

            	
              -

            	
              X

            
	
              3.4.2.

            	
              Delivery
                and laying of the cables

            	
              -

            	
              X

            
	
              3.4.3.

            	
              Connection
                of the measurement voltage cabling to the grid

            	
              -

            	
              X

            
	
              3.4.4.

            	
              Completion
                report and quality certificate according to the principal’s
                specifications

            	
              -

            	
              X

            
	
              3.5.

            	
              Coupling
                station (as specified in Annex 2 A2.5)

            	 	 
	
              3.5.1.

            	
              Earthwork
                and construction of the foundation

            	
              -

            	
              X

            
	
              3.5.2.

            	
              Delivery
                and installation of the coupling station

            	
              -

            	
              X

            
	
              3.5.3

            	
              Connection
                and startup

            	
              -

            	
              X

            

    

     

    [initials]

     

    ***** This material has been omitted pursuant
      to
      a request for confidential treatment and filed separately with the Securities
      and Exchange Commission.

    
       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    
      	
              ITEMS

            	
              Scope
                of delivery

              Contractor

            	
              Services

              Principal

            
	
              3.5.4

            	
              Completion
                report and quality certificate according to the principal’s
                specifications

            	
              -

            	
              X

            
	
              3.6

            	
              Grid
                connection (as specified in Annex 2 A2.6)

            	 	 
	
              3.6.1.

            	
              Grid
                connection plan

            	
              -

            	
              X

            
	
              3.6.2.

            	
              Grid
                requirements according to the grid operator’s
                specifications

            	
              -

            	
              X

            
	
              3.6.3.

            	
              Provision
                of the grid requirements at the grid infeed point

            	
              -

            	
              X

            
	
              3.7.

            	
              Foundation
                (as specified in Annex 2 A2.7.)

            	 	 
	
              3.7.1.

            	
              Development
                and specification of the foundation

            	
              X

            	
              -

            
	
              3.7.2.

            	
              Unloading
                the foundation fitting

            	
              -

            	
              X

            
	
              3.7.3.

            	
              Construction
                of the foundation

            	
              -

            	
              X

            
	
              3.7.4.

            	
              Completion
                report and quality certificates according to the contractor’s
                specifications

            	
              -

            	
              X

            
	
              3.8.

            	
              Access
                and infrastructure of the site (as specified in Annex 2
                A2.8)

            	 	 
	
              3.8.1.

            	
              Site
                inspection by the contractor

            	
              X

            	
              -

            
	
              3.8.2.

            	
              Ensuring
                access for heavy transport equipment via public roads

            	
              -

            	
              X

            
	
              3.8.3.

            	
              Changes
                to public roads

            	
              -

            	
              X

            
	
              3.8.4.

            	
              Construction
                of access roads and crane sites according to the contractor’s
                specifications

            	
              -

            	
              X

            
	
              3.8.5.

            	
              Provision
                and preparation of the erection area for the rotor blades

            	
              -

            	
              X

            
	
              3.8.6.

            	
              Completion
                report and quality certificate according to the contractor’s
                specifications

            	
              -

            	
              X

            
	
              3.9.

            	
              Telecommunication
                and remote monitoring (as specified in Annex 2
                A2.9)

            	 	 
	
              3.9.1.

            	
              Concept
                and connection diagram for the telecommunications of the wind
                farm

            	
              -

            	
              X

            
	
              3.9.2.

            	
              Excavation
                and filling of cable trenches

            	
              -

            	
              X

            
	
              3.9.3.

            	
              Delivery
                and laying of the telephone cables

            	
              -

            	
              X

            
	
              3.9.4.

            	
              Delivery
                and installation of the ISDN connection

            	
              -

            	
              X

            
	
              3.9.5.

            	
              Delivery
                and installation of the lightning arrester

            	
              -

            	
              X

            
	
              3.9.6.

            	
              Delivery
                and laying of the cables for the internal farm communications (optical
                fiber)

            	
              -

            	
              X

            

    

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    
      	
              ITEMS

            	
              Scope
                of delivery

              Contractor

            	
              Services

              Principal

            
	
              3.9.7.

            	
              Completion
                report and quality certificates according to the contractor’s
                specifications

            	
              -

            	
              X

            
	
              3.9.8.

            	
              Remote
                monitoring of the wind farm within the warranty

            	
              X

            	
              -

            
	
              3.10.

            	
              Transport
                (as specified in Annex 2 A2.10)

            	 	 
	
              3.10.1.

            	
              Transport
                of the foundation fitting to the site

            	
              -

            	
              X

            
	
              3.10.2.

            	
              Transport
                and if necessary packaging of the tower, the nacelle, the hub and
                the
                rotor blades to the site

            	
              -

            	
              X

            
	
              3.11.

            	
              Erection
                and startup of the WET (as specified in Annex 2
                A2.11)

            	 	 
	
              3.11.1.

            	
              Framing
                the cranes for assembly

            	
              -

            	
              X

            
	
              3.11.2.

            	
              Site
                safety and site security

            	
              -

            	
              X

            
	
              3.11.3.

            	
              Assembly
                of the WET

            	
              X

            	
              -

            
	
              3.11.4.

            	
              Connection
                of the WET to the low voltage cables, telecommunication cables, internal
                communication (optical waveguide) and grounding

            	
              X

            	
              -

            
	
              3.11.5.

            	
              Startup
                of the WET

            	
              X

            	
              -

            
	
              3.11.6.

            	
              Protection
                and safety on the site: responsibilities of the principal

            	
              -

            	
              X

            
	
              3.11.7.

            	
              Protection
                and safety on the site: responsibilities of the contractor

            	
              X

            	
              -

            
	
              3.12.

            	
              Trial
                operation period (as specified in Annex 2 A2.12)

            	 	 
	
              3.12.1.

            	
              Supervision
                until the end of the trial operation period

            	
              X

            	
              -

            
	
              3.13.

            	
              Routine
                maintenance (as specified in Annex 5.2.)

            	 	 
	
              3.13.1.

            	
              Routine
                service + maintenance during the warranty period

            	
              X

            	
              -

            
	
              3.13.2.

            	
              Routine
                service and maintenance after the warranty period

            	
              -

            	
              X

            
	
              3.13.3.

            	
              Routine
                cleaning of the rotor blades

            	
              -

            	
              X

            
	
              3.13.4.

            	
              Routine
                maintenance of the transformer station

            	
              -

            	
              X

            
	
              3.14.

            	
              Supporting
                technical documentation (as specified in Annex 1)

            	
              X

            	
              -

            
	
              3.15.

            	
              Additional,
                optional services (as specified in Annex 2 A2.15)

              Not
                included in the standard scope of delivery, but can be provided by
                the
                contractor upon request for additional cost

            	 	 
	
              3.15.1.

            	
              Night
                marking / flight beaconing

            	 	 
	
              3.15.2.

            	
              Day
                marking on the rotor blades

            	 	 
	
              3.15.3.

            	
              Climbing
                aid / electric elevator

            	 	 

    

     

    [initials]

     

    *****
      This material has been omitted pursuant to a
      request for confidential treatment and filed separately with the Securities
      and
      Exchange Commission.

    
      
         

        
          
            
            

          

          
            13

            
              

            

          

          
            
            

          

        

        
          
            	
                    EXHIBIT
                      10.1

                    REDACTED
                      COPY

                  	 
	 	 
	
                    DeWind Ltd.

                  	
                    DEWIND

                  

          

           

        

      

    

    
      	
              ITEMS

            	
              Scope
                of delivery

              Contractor

            	
              Services

              Principal

            
	
              3.15.4.

            	
              Ice
                sensor

            	 	 
	
              3.15.5.

            	
              Wind
                measurement mast

            	 	 
	
              3.15.6.

            	
              Reduced-noise
                operation

            	 	 
	
              3.15.7.

            	
              Shadow-cast
                switchoff

            	 	 
	
              3.15.8.

            	
              Training
                courses

            	 	 
	
              3.15.9.

            	
              Fire
                protection system

            	 	 
	
              3.15.10.

            	
              Special
                environmental conditions

            	 	 
	
              3.15.11.

            	
              Remote
                monitoring of the principal (extensions)

            	 	 
	
              3.15.12.

            	
              SCADA
                monitoring

            	 	 
	
              3.15.13.

            	
              Particular
                grid requirements

            	 	 
	
              3.15.14.

            	
              Reduction
                of harmonic

            	 	 
	
              3.15.15.

            	
              Full
                converter operation

            	 	 
	
              3.15.16.

            	
              Other
                (complete where applicable)

            	 	 
	
              3.16.

            	
              Further
                services of the principal (as specified in Annex 2
                A2.16)

            	 	 
	
              3.16.1.

            	
              Building/planning
                permit

            	
              -

            	
              X

            
	
              3.16.2.

            	
              Location
                report and environmental report

            	
              -

            	
              X

            
	
              3.16.3.

            	
              Soil
                report

            	
              -

            	
              X

            
	
              3.16.4.

            	
              Grid
                connection license or contract

            	
              -

            	
              X

            
	
              3.16.5.

            	
              Financing

            	
              -

            	
              X

            
	
              3.16.6.

            	
              Micrositing
                report (wind report and farm layout)

            	
              -

            	
              X

            
	
              3.16.7.

            	
              Turbulence
                report

            	
              -

            	
              X

            
	
              3.16.8.

            	
              Acoustic
                emissions report

            	
              -

            	
              X

            
	
              3.16.9

            	
              Shadow
                cast report

            	
              -

            	
              X

            
	
              3.16.10.

            	
              Earthquake
                zone report

            	
              -

            	
              X

            
	
              3.16.11.

            	
              Maintenance
                of the ISDN connection

            	
              -

            	
              X

            

    

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    
      	
              4.

            	
              Properties
                and Warranties

            

      	4.1
              	General performance data of
              the WET
              (assuming an air density of 1.225 KG/m3,
              a
              turbulence density of 10 % and a construction height of the WET of
              0.00 m
              NN)

    

     

    
      	
              Designation

            	
              Unit

            	
              Value

            
	
              Rated
                power

            	
              KW

            	
              2,000

            
	
              Hub
                height

            	
              m

            	
              80

            
	
              Rotor
                diameter

            	
              m

            	
              80

            
	
              Cut-in
                wind speed

            	
              m/s

            	
              3

            
	
              Rated
                wind speed

            	
              m/s

            	
              13.5

            
	
              Cut-out
                wind speed at 10 min

              At
                30 s

              At
                1 s

            	
              m/s

              m/s

              m/s

            	
              25

              28

              36

            
	
              Survival
                wind speed

            	
              m/s

            	
              57.4

            
	
              Design
                speed (rotor)

            	
              1/min

            	
              18.0

            
	
              Design
                speed range (rotor)

            	
              1/min

            	
              11.1
                - 20.7

            
	
              Design
                speed (generator)

            	
              1/min

            	
              1,700

            
	
              Design
                speed range (generator)

            	
              1/min

            	
              1,050-1,950

            
	
              Ambient
                temperature range for operation

              (Note:
                a reduction in output may be necessary at ambient temperatures above
                25
                °C)

            	
              °
                C

            	
              -20
                to + 35

            

    

    

    
      	4.2	
              Power
                Curve

            

    

    The
      power
      curve of the WET D8 with a rated power of 2,000 kW at an air density of 1.225
      kg/m3
      and a
      turbulence intensity of 10% on flat terrain is shown by the following diagram.
      The associated table on the next page shows the rated power depending on wind
      speeds. It should be noted that the power output can change with an air density
      different from 1.225 kg/m3
      and a
      higher turbulence intensity than 10%.

    The
      contractor guarantees that at least *****% of the power curve that was obtained
      at a reference location will be achieved under the above conditions of air
      density and turbulence intensity. In this sense, the reference location is
      a
      location at which a measurement of the power curve is possible according to
      FGW
      [Federation
      of German Windpower] guideline Rev. 13 Ed.01/2000. The output is measured on
      the
      low voltage side in the area of the foot of the tower or in the transform
      station. This warranty is given for the duration of 2 years and begins with
      the
      date of the end of the trial operation period, but at the latest two months
      after the recorded initial startup of the WET.

    

    [initials]

     

    *****
      This material has been omitted pursuant to a
      request for confidential treatment and filed separately with the Securities
      and
      Exchange Commission.

     

    
      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

         

      

    

    [see
      source for table in English]

     

    

    

    

    

    

    If
      defects are reported with respect to the power curve, which the contractor
      does
      not consider as such, the principal can commission an independent expert
      acceptable to both parties or an institute (e.g., DEWI, Windconsult, Windtest,
      or the like) to conduct measurements at the site. These measurements must be
      conducted according to the IEC 61400-12 or the FGW Rev. 13 Ed.01.2000
      standards.

    

    If
      the
      power curve does not lie within the guaranteed range of *****% of the measured
      power curve according to the findings of the independent expert or institute
      commissioned by the principal, although the principal has cleaned the rotor
      blades in line with the contract, the contractor shall bear the expense of
      the
      review. In this case, the contractor shall improve the power curve at his
      expense within one year of receipt of the measurement result from the
      independent expert or institute such that the necessary value is
      reached.

    

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    If
      the
      contractor is not able to increase the power curve to the guaranteed power
      level
      within the above-referenced period of one year after he has repeatedly taken
      corresponding measures, unless the non-achievement of the power curve is based
      on willful or grossly negligent conduct by the contractor, the contractor shall
      pay the principal the following lump-sum damages to satisfy all claims for
      damages by the principal for the non-compliance with the guaranteed power
      curve:

    

    *****%
      of
      the respective WET
      net contract price for the respective WET as defined in Section 2.1 per
*****%
      reduced
      output of the guaranteed power curve up to a maximum of *****%
      of
      the contract price.

    

    
      	4.3	
              Acoustic
                Emissions

            

    

    

    The
      contractor guarantees an acoustic power level of 104 dB(A) at hub height at
      a
      wind speed of 10 m/s according to the IEC 61400-11 Ed.12.2002 standard. This
      warranty is given for the duration of 2 years and begins with the date of the
      end of the trial operation period, but at the latest two months after written
      confirmation of the initial startup of the WET.

    

    If
      the
      principal complains within the warranty period that the acoustic power levels
      are excessively high, a test shall be carried out by a jointly agreed measuring
      institute or expert at the principal’s expense.

    

    If
      it is
      proven thereby that the emissions exceed the guaranteed acoustic power level,
      the cost of the test and the costs resulting from the reworking of the equipment
      shall be borne by the contractor. The contractor shall be granted a period
      of 12
      months from the time of the written confirmation of the test findings to carry
      out the necessary reworking. The principal undertakes to support the contractor
      in implementing the reworking measures.

    

    If
      the
      guaranteed acoustic power level cannot be achieved within the 12-month reworking
      period, unless the non-compliance with the guaranteed acoustic power level
      is
      based on willful or grossly negligent conduct by the contractor, the contractor
      must pay to the principal the following lump-sum damages to satisfy all claims
      for damages by the principal for non-compliance with the guaranteed power
      curve.

    

    *****%
      of
      the relevant WET
      contract price of the respective WET net contract price for the respective
      WET
      as defined in Section 2.1 per *****%
      loss
      in energy yield due to the operational restrictions of the power output of
      the
      WET through the power reduction to maintain the guaranteed acoustic power level
      up to a maximum of *****%
      of the contract price.

     

    [initials]

     

    ***** This material has been omitted pursuant to a request
      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    
      
        	
                EXHIBIT
                  10.1

                REDACTED
                  COPY

              	 
	 	 
	
                DeWind Ltd.

              	
                DEWIND

              

      

       

    

    
      	4.4	
              Availability
                of WET 

            

    

     

    During
      the availability time defined in Section 2.2.10 supplier guarantees the
      following technical availability for each individual wind energy turbine (WET):
      

     

    a)
      An
      average of at least 90% in the first two months of operation after the testing
      operation period is over; 

     

    b)
      An
      average of at least 95% in the remaining ten months of the first year of
      operation; 

     

    c)
      A
      yearly average of at least 95% for the remaining availability time during the
      warranty period; 

     

    
      	4.4.01	
              Computation
                of availability of the WET 

            

    

     

    The
      definition of WET availability is the status of a WET in which it is technically
      available for operation. 

     

    The
      formula to calculate technical availability of a WET is the following:

     

    

     

    where:

     

    A
      Availability:
      technical availability of the WET [%]; 

     

    P
      Corrected
      period:
      Reckoned as the overall period minus times without WET data (e.g., losses of
      data [h]). The total time is every year of availability time, namely 8760 hours
      for regular years and 8784 hours for leap years; 

     

    T
      Total
      down time:
      The
      whole down time of the WET [h] as defined below 

     

    N
      Non-liable
      down time:
      The
      total WET down time [h] for which supplier cannot be made liable as defined
      below. 

     

    
      	4.4.01.1	
              Definition
                of T (total down time) 

            

    

     

    T
      is
      defined as the total sum of all down time during the entire period P except
      for
      the following modalities, which constitute part of the regular operation of
      a
      WET: 

     

    
      	 	
              ·

            	
              Automatic
                system check of WET’s 

            

    

     

    
      	 	
              ·

            	
              Voltage
                build-up during the startup stage 

            

    

     

    
      	 	
              ·

            	
              Hydraulic
                warm-up time 

            

    

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    
      	 	
              ·

            	
              Disentanglement
                of the power cables 

            

    

     

    
      	4.4.01.2	
              Definition
                of N (non-liable down time) 

            

    

     

    N
      is
      defined as the sum total of all down time for which supplier is not liable.
      Each
      and every one of the sorts of operational downtime listed below add up to the
      number N, which is used in the above availability formula: 

     

    
      	 	
              ·

            	
              Network
                breakdown or interruption outside of the valid network parameters
                

            

    

    
      	 	
              ·

            	
              Network
                switched off, usually after announcement

            

    

    
      	 	
              ·

            	
              Breakdown
                in the main transfer station (if included in the customer’s area of
                electricity provision) 

            

    

    
      	 	
              ·

            	
              Maintenance
                work (maximum 36 hours per year) 

            

    

    
      	 	
              ·

            	
              Inspections
                or expert opinions ordered by the customer

            

    

    
      	 	
              ·

            	
              Measurements
                ordered or required by customer 

            

    

    
      	 	
              ·

            	
              Switch-off
                of WET because of government order that the supplier is not answerable
                for, e.g., exceeding noise limits, projected
                shade

            

    

    
      	 	
              ·

            	
              When
                ice has formed 

            

    

    
      	 	
              ·

            	
              Turbulence
                

            

    

    
      	 	
              ·

            	
              Wind
                speed above the limits specified for the
                WET

            

    

    
      	 	
              ·

            	
              Wind
                speed below the limits specified for the WET

            

    

    
      	 	
              ·

            	
              Inspections
                of the wind energy turbine approved by the customer
                

            

    

    
      	 	
              ·

            	
              Shutdown
                of the WET in order to perform special work in accordance with a
                written
                order from the customer 

            

    

    
      	 	
              ·

            	
              Failure
                because of telecommunication problems attributable to the customer
                

            

    

    
      	 	
              ·

            	
              Lightning
                bolts 

            

    

    
      	 	
              ·

            	
              Vandalism,
                sabotage 

            

    

    
      	 	
              ·

            	
              Storm

            

    

    
      	 	
              ·

            	
              Environmental
                conditions outside of the specified area (see section
                4.5)

            

    

    
      	 	
              ·

            	
              Holdup,
                theft 

            

    

    
      	 	
              ·

            	
              Strikes,
                insurrections and riots

            

    

    
      	 	
              ·

            	
              Earthquakes
                or flood 

            

    

    
      	 	
              ·

            	
              External
                fire (even without visible flames) or
                explosion

            

    

    
      	 	
              ·

            	
              Falling
                aircraft or damages due to the landing of an
                aircraft

            

    

     

    As
      well
      as all other WET downtime for which supplier is not responsible. 

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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              4.4.02

            	
              Computation
                of lump-sum indemnity for damages and supplier’s
                reward

            

    

     

    Computation
      of lump-sum indemnity for damages if
      technical availability is beneath that stated in the contract

     

    

    for
      A<G

     

    Computation
      of supplier’s reward
      If
      technical availability is above that stated in the contract: 

     

    

    for
      A<G

     

    where:
      

     

    LD
      Lump-sum
      indemnity:
      Supplier must pay customer damages, if availability of the WET is under its
      contractual figure. 

     

    B
      Supplier’s
      bonus:
      Supplier is paid a bonus if availability of the WET is above its contractual
      figure. 

     

    G
      Guaranteed
      availability:
      Contractual value of WET availability [%]. 

     

    A
      Actual
      availability
      - Actual
      of measured availability of the WET during the guaranty period [%].

     

    Y
      Actual
      energy yield:
      The
      annual energy yield [kWh] as measured on the medium voltage side of the
      transformer station during the guaranty period. The figure that must be used
      is
      the figure measured with the EVU’s or customer’s output meter. If it is not
      available, the figure that must be used is the energy yield of the WET control
      minus 1.5% as a lump amount to account for low-voltage cabling and transformer
      losses. If a conventional yield measurement device is used for the whole
      windmill park, namely at the network connection point, actual energy yield
      for
      each WET is reckoned as follows: 

     

    Windmill
      park yield (conventional yield measuring device) x individual WET
      (controls)

     

    Windmill
      park yield (sum of all WET control devices)

     

    F
      Feed-in
      rate:
      The
      legal or actual network feed-in rate charged during the warranty
      period.

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    S
      Supplier’s
      share of the reward:
      The
      following rates are used to calculate the supplier’s reward if WET availability
      exceeds the contractual figure: 

     

    
      	
              Actual
                availability (A)

            	
              Share
                (S)

            
	
              95%-97%

            	
              *****%

            
	
              97%-100%

            	
              *****%

            

    

     

    The
      lump-sum indemnity for damages with respect to availability of each WET is
      limited to *****%
      of the
      contractual figure for the WET in question. This lump-sum indemnity constitutes
      the complete and final compensation of all customer’s claims against supplier in
      the case of non-fulfillment of the guaranteed availability figures.

     

    If
      the
      actual energy yield Y exceeds the theoretical annual energy yield calculated
      in
      accordance with the wind data provided by the customer, supplier must pay no
      lump-sum indemnity, even if WET availability during the specific period is
      less
      than the warranty figure G. 

     

    Insurance
      payments to customer for WET outages within the warranty period are credited
      toward the lump-sum indemnity. If the customer receives insurance payments
      for
      outages within the warranty period after supplier has already paid a lump-sum
      indemnity to customer, customer must refund to supplier the same amount of
      the
      indemnity payments as the insurance payment received. 

     

    The
      supplier receives a share of the additional yields obtained if the actual
      technical availability is greater than the guaranteed availability. This reward
      as described in the above formula must be divided between supplier and customer
      in accordance with the percentages listed in the above tables. 

     

    
      	4.4.03	
              Overall
                responsibility 

            

    

     

    Supplier’s
      overall responsibility [sic] for all customer's claims for damages resulting
      from this contract or on other grounds may not exceed *****%
      of the
      total contractual price under section 2.1. This is not applicable in cases
      of
      malice aforethought; if the operation or management or supplier’s management
      staff incur in gross negligence; in the case of negligent harm to life, body
      and
      health and in the case of fraudulent non-disclosure of material defects.

     

    [initials]

    
       

      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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      	4.4.04	
              Manner
                of payment and forfeiture clause 

            

    

     

    Supplier
      will reckon the lump-sum indemnity or bonus on the basis of its own availability
      and yield information at customer’s request annually from the beginning of the
      warranty period. When doing so it will reckon the lump-sum indemnity and/or
      bonus payment individually per WET. If
      supplier does not receive a request for invoicing within six months after the
      end of the warranty period, customer forfeits its claim for payment of the
      lump-sum indemnity. Six months after expiry of the warranty period supplier
      likewise forfeits its claims to bonus payments unless it shall have previously
      demanded of the customer them in writing.

     

    
      	4.5	
              Local
                conditions 

            

    

     

    The
      D8
      2000-80-80 DIBT II WET is designed for certain specified environmental
      conditions in accordance with class II of the DIBT (German Institute for
      Construction Engineering) classification. It may be erected at locations up
      to a
      maximum altitude of 1,000 meters above sea level and of wind conditions in
      accordance with DIBT class II specifications. These conditions are summarized
      in
      the following table: 

     

    
      	
              Maximum
                50-year wind (average 10 minutes)* 

            	
              38.5
                m/s 

            
	
              Maximum
                50-year gust (average 5 s)* 

            	
              57.4
                m/s 

            
	
              Maximum
                average annual speed 

            	
              6.2
                m/s 

            
	
              Maximum
                intensity of turbulence 

            	
              20%
                

            
	
              Minimum
                distance between WETs 

            	
              5
                rotor diameters in the main direction of the wind
                

            

    

     

    *
      at hub
      level

     

    Customer
      is responsible for ascertaining that the planned location of the WETs meets
      above parameters. Supplier is not liable by virtue of the warranty for any
      damages attributable to local conditions that exceed, or in the case of minimum
      distance, are less than above parameters. 

     

    
      	4.6	
              Compliance
                with network requirements 

            

    

     

    The
      WETs
      comply with the following network protection parameters: 

     

    
      	 	
              Default
                setting

            
	
              Protection
                from excessive voltage 

            	
              +
                10 % Un, adjustable 0.. + 10 % 

            
	
              Protection
                from low voltage -.. 

            	
              -10%
                Un. Adjustable 0.. -10 %

            
	
              Excessive
                frequency protection 

            	
              +
                1
                % fn, adjustable 0.. + 1 % 

            
	
              Low
                frequency protection

            	
              -
                1
                % fn, adjustable 0.. - 1 % 

            

    

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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                  DEWIND

                

        

         

      

    

    
      	
              5

            	
              Service
                Support

            

    

     

    
      	5.1	
              Remote
                monitoring 

            

    

     

    Supplier
      plans to provide during the warranty period, as a regular service, a system
      for
      constant remote monitoring of the WETs in operation as a standard service.
      This
      service is coordinated at the head office of supplier’s German branch, located
      in Lübeck, Germany. Supplier monitors WETs all over the world 24 hours a day.
      Routine service comprises: 

     

    
      	 	
              ·

            	
              24-hr.
                remote monitoring by the supplier

            

    

     

    
      	 	
              ·

            	
              Recording
                of any fault signals and storage of operating data for a period of
                at
                least 6 months after the event; specifically, these data are
                recorded:

            

    

    
      	 	
              ·

            	
              Availability
                

            

    

    
      	 	
              ·

            	
              Downtimes
                

            

    

    
      	 	
              ·

            	
              Gene
                rator hours

            

    

    
      	 	
              ·

            	
              Yield
                data

            

    

    
      	 	
              ·

            	
              Status
                code lists

            

    

    
      	 	
              ·

            	
              Characteristic
                curves

            

    

    
      	 	
              ·

            	
              Logging
                of service work 

            

    

    
      	 	
              ·

            	
              Information
                about necessary or advisable service measures for the prevention
                of
                further damage to the WETs 

            

    

     

    This
      service is provided by supplier under the condition that customer places a
      fully
      operational ISDN channel at its disposal at the latest on the date operation
      commences. 

     

    
      	5.2	
              Routine
                maintenance 

            

    

     

    Supplier
      is responsible for routine maintenance of the WETs for the duration of the
      warranty This work is performed either by supplier or by a subcontractor
      retained by supplier as its agent in accordance with the specifications
      contained in the maintenance handbook (see list of documents in Exhibit 1).
      

     

    Routine
      maintenance comprises the following tasks:

     

    [initials]

     

    *****
      This material has been omitted pursuant to a
      request for confidential treatment and filed separately with the Securities
      and
      Exchange Commission.

     

    
      
        
        

      

      
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                REDACTED
                  COPY

              	 
	 	 
	
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                DEWIND

              

      

       

    

    
      	 	
              ·

            	
              Checking
                technical condition of all components

            

    

    
      	 	
              ·

            	
              Function
                tests and visual inspections 

            

    

    
      	 	
              ·

            	
              Checking
                that the bolts are tight (verification/control of angular momentum)
                

            

    

    
      	 	
              ·

            	
              Oil
                level check 

            

    

    
      	 	
              ·

            	
              Gear
                lubricant analysis (once a year) 

            

    

    
      	 	
              ·

            	
              Lubrication
                of all components when needed

            

    

    
      	 	
              ·

            	
              Checking
                the brakes 

            

    

    
      	 	
              ·

            	
              Check
                all safety devices 

            

    

    
      	 	
              ·

            	
              Keeping
                maintenance [sic] specifications
                log

            

    

     

    The
      following inputs are included in routine maintenance: 

     

    
      	 	
              ·

            	
              Grease
                for lubricating bearings 

            

    

    
      	 	
              ·

            	
              Grease
                for lubricating the crane’s azimuthal slewing ring
                

            

    

    
      	 	
              ·

            	
              Hydraulic
                oil (maximum 1 l per routine maintenance visit)

            

    

    
      	 	
              ·

            	
              Gear
                oil (maximum 10 l per maintenance visit)

            

    

    
      	 	
              ·

            	
              Carbon
                brushes 

            

    

    
      	 	
              ·

            	
              Filters
                for gear oil and hydraulic oil 

            

    

     

    Customer
      must itself conduct disposal of waste products resulting from maintenance
      activities (metal etc.) Maintenance is conducted by supplier or its agent in
      principle every six months approximately (plus/minus four weeks) starting when
      operation of each WET begins. 

     

    Supplier
      will log all meets measures in the maintenance specifications [sic] that are
      kept at the WET. Furthermore supplier reports to customer the results of the
      annual oil analyses and any maintenance measures necessary or advisable to
      forestall further damage to the systems. 

     

    Supplier
      will inform customer when maintenance will take place at least one week before
      it is performed. If maintenance cannot be performed on the announced date,
      both
      parties are obligated to report this situation to each other at once. The
      parties will then agree upon a new maintenance date. If supplier is prevented
      from conducting maintenance on the date planned on grounds attributable to
      customer, the latter must inform supplier in timely manner of the reason for
      the
      delay. If customer fails to give the required warning it is liable to supplier
      for all supplier’s documented costs resulting from non-compliance with the
      maintenance date. 

     

    [initials]

     

    *****
      This material has been omitted pursuant to a
      request for confidential treatment and filed separately with the Securities
      and
      Exchange Commission.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    
      
        	
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                DEWIND

              

      

       

    

    Storage
      of spare parts 

     

    Supplier
      will store the spare parts and refurbished spare parts in its spare parts
      warehouse. Spare parts required for repairs can be shipped on short notice.
      Large components e.g., rotor blades, generators and gears can be supplied by
      supplier within a reasonable time after receiving an order from customer, by
      ordering them in turn from the component suppliers. Supplier will provide a
      list
      of spare parts on request. 

     

    Furthermore
      customer should consider the possibility of maintaining its own stock of spare
      parts at its own expense. Supplier will provide customer with a list of
      recommended spare parts once the contract goes into effect. 

     

    
      	5.3	
              Customer’s
                obligations 

            

    

     

    Customer
      states it consents to leaving the master key to the WET in possession of
      supplier or its agent during effectiveness of the contract. Furthermore is
      states expressly that supplier or its agent are entitled to enter the facility.
      Customer will likewise hand over all necessary information for the maintenance
      to be performed and provide all documents regarding the planned maintenance
      visit. 

     

    The
      following activities are not included among the service and maintenance tasks
      and accordingly are the responsibility of customer: 

     

    
      	 	
              ·

            	
              Repair
                of any damages for which customer or a third party is responsible,
                especially if they are the result of external influences or force
                majeure.
                

            

    

    
      	 	
              ·

            	
              Regular
                inspection by an expert 

            

    

    
      	 	
              ·

            	
              Maintenance
                and inspection of the ladder safety system and fire extinguishers.
                

            

    

    
      	 	
              ·

            	
              Checking
                all parts of the facility whenever required by the government or
                by other
                conditions placed by experts. 

            

    

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

      
        
          	
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                  REDACTED
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                  DEWIND

                

        

      

    

     

    Exhibit
      1.
      Technical
      documentation 

     

    The
      following list contains the documents that supplier must provide to customer.
      If
      customer requires additional documents that are not listed here, supplier may
      provide it for additional consideration and in accordance with a schedule
      approved by both parties. 

     

    
      	
              Document
                list

            	
              Delivery
                date

            
	
              Electric
                data DEWI report in German 

            	
              4
                weeks after contract goes into effect 

            
	
              Spare
                unipolar wiring diagram 

            	
              4
                weeks after contract goes into effect 

            
	
              Measured
                yield characteristic curve 

               

            	
              4
                weeks after contract goes into effect 

            
	
              Measured
                noise emission 

            	
              4
                weeks after contract goes into effect 

            
	
              DeWind
                Ltd.’s compliance statement 

            	
              4
                weeks after contract goes into effect 

            
	
              Wind
                energy turbine type test 

            	
              4
                weeks after contract goes into effect

            
	
              Data
                sheet for customer generation 

              facility
                

            	
              4
                weeks after contract goes into effect

            
	
              Transformer
                specifications 

            	
              4
                weeks after contract goes into effect

            
	
              Specifications
                of low-voltage cabling 

            	
              4
                weeks after contract goes into effect

            
	
              Lightning
                rod specifications 

            	
              4
                weeks after contract goes into effect

            
	
              Operator’s
                duties [in case of] ice buildup 

            	
              4
                weeks after contract goes into effect

            
	
              Specifications
                of telecommunications cable 

            	
              4
                weeks after contract goes into effect

            
	
              Specifications
                of high-voltage telecommunication protection 

            	
              4
                weeks after contract goes into effect

            
	
              Overview
                of remote monitoring 

            	
              4
                weeks after contract goes into effect

            
	
              Specifications
                of accesses 

              and
                location of crane 

            	
              4
                weeks after contract goes into effect

            
	
              Basic
                documents 

            	
              4
                weeks after contract goes into effect

            
	
              Specifications
                of safety and 

              safety
                at work devices 

            	
              4
                weeks after contract goes into effect

              --
                -- ---... ----- 

            
	
              List
                of spare parts 

            	
              4
                weeks after contract goes into effect 

            
	
              Notary’s
                record of 

            	
              2
                weeks before erection 

            

    

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

      
        
          	
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                  REDACTED
                    COPY

                	 
	 	 
	
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                  DEWIND

                

        

         

      

    

    
      	
              Document
                list

            	
              Delivery
                date

            
	
              The
                deposited drawings 

            	 
	
              Orienting
                builder 

            	
              2
                weeks before erection 

            
	
              Erection
                record 

            	
              2
                weeks after erection 

            
	
              Record
                of start of operations 

            	
              2
                weeks after erection 

            
	
              Wind
                energy turbine instruction manual 

            	
              2
                weeks after start of operation 

            

    

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

      
        
          	
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          	Annex 2.	
                  Technical
                    Specifications and
                    Description

                  
                    (as
                      defined in Section 3)

                    General
                      Declaration: Unless otherwise stipulated, the Contractor’s standard
                      specifications apply to this
                      contract.

                  

                

        

      

    

      

    A.2.1    Main
      WET
      Components

    

    A2.1.1           Rotor
      Blades

    

    
      	
              §

            	
              The
                rotor blades are composed of glass fiber and carbon fiber reinforced
                plastic (GFRP and CFRP) with integrated lightning protection receptors.
                Each blade weighs around 6.5 t (including screws for attaching the
                blade
                to the blade bearing) and is 39.1 m
                long.

            

    

    

    
      	
              §

            	
              The
                blades are painted white (RAL
                9016).

            

    

    

    
      	
              §

            	
              The
                Contractor offers daytime identification markings on the blades as
                an
                option for an additional charge. These are dependent on site and/or
                official directives. The Client must check the requirements of the
                authorities and advise the Contractor of same in a timely
                manner.

            

    

    

    A2.1.2    Hub

    

    
      	
              §

            	
              The
                rotor hub is made of cast iron. It rotates at 11.1 - 20.7 min-1.
                The nominal speed is 18.0 min-1.
                The rotor hub is protected from environmental effects by a GFRP spinner.
                Both the spinner and hub are painted light grey (RAL
                7035).

            

    

    

    
      	
              §

            	
              The
                hydraulic pitch mechanism is built into the hub and consists of a
                primary
                and a secondary system. Three synchronized cylinders supply the primary
                system for the normal pitch control. Three separate cylinders (one
                per
                blade), fitted with pressure accumulators for emergency supply, provide
                the secondary system for the individual pitch
                controls.

            

    

    

    A2.1.3    Gondola

    

    See
      the
      technical specifications for the gondola in Annex 3 to this
      document.

    

    A2.1.4    Tower

    

    
      	
              §

            	
              The
                80 m high tower is composed of 4 steel pipe sections. It is coated
                internally in compliance with ISO 12944 C4 and externally in compliance
                with ISO 12944 C5-M. The coating is light grey in color (RAL
                7035).

            

    

     

    [initials]

     

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

      
        
          	
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                  DEWIND

                

        

      

    

    

    
      	
              §

            	
              The
                tower is fitted with a burglar proof steel door including lock cylinder,
                door locks and burglar proof air
                outlets.

            

    

    

    
      	
              §

            	
              The
                power and control cables are attached to the tower wall on a cable
                conductor. Two types of cable are used inside the tower: flexible
                cable
                type H07RN-F 90o and massive cable type N2XH-0 (halogen free). The cables
                are bound together by means of crimp connections between the tower
                sections in compliance with DIN / VDE (Verband Deutscher Elektrotechnicker
                [German Electricians’ Association])
                regulations.

            

    

    

    
      	
              §

            	
              A
                vertical ladder is installed inside the tower with the rungs orientated
                against the tower wall. A climbing safety system is installed for
                safety
                purposes for ascending the tower. Two safety belts including shock
                absorbing fall lanyards and runners for the safety rails are supplied
                by
                the Contractor. The Client is responsible for regular inspections
                and if
                necessary for replacing this equipment in accordance with local statutory
                regulations and / or official
                directives.

            

    

    

    
      	
              §

            	
              An
                electric goods and passenger elevator can be installed by the Client
                inside the tower as an optional extra for an additional charge. The
                Client
                is responsible for servicing and maintaining the
                elevator.

            

    

    

    
      	
              §

            	
              A
                lighting system consisting of drip proof lights is installed inside
                the
                tower. This system provides emergency lighting for at least an hour
                during
                an outage.

            

    

    

    
      	
              §

            	
              A
                fire extinguisher and first aid kit are supplied by the Contractor
                and
                installed at the bottom of the tower. The Client is responsible for
                regular inspections and if necessary for replacing this equipment
                in
                accordance with statutory regulations and / or official
                directives.

            

    

    

    A2.1.5   Base
      tower section
      for attachment to the foundations

    

    
      	
              §

            	
              The
                base tower section for attachment to the foundations is made of steel
                and
                is coated inside in compliance with ISO 12944 C4 and outside in compliance
                with ISO 12944 C5-M. The coating is light grey in color (RAL
                7035).

            

    

    

    
      	
              §

            	
              The
                weight of the base tower section for attachment to the foundations
                is
                around 11 t, with a maximum diameter of 4.25 m and a total height
                of 1.76
                m.

            

    

    

    
      	
              §

            	
              The
                base tower section for attachment to the foundations is supplied
                by the
                Contractor but must be attached to the foundations by the Client
                in
                accordance with the Contractor’s
                specifications.

            

    

    

    A.2.2    Transformer
      station

    

    The
      transformer station to be erected by the Client must meet the requirements
      cited
      in the current version of the Contractor’s Specification No. 104510. These
      specifications are to be supplied by the Contractor, see Annex 1 - Technical
      Documentation.

    

    [initials]

    
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        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    Before
      the Contractor connects the grounding to the WET, the Client must submit a
      report on the grounding value in order to prove that the grounding of the WET
      and the transformer station was carried out properly and in accordance with
      the
      requisite specifications.

    

    A.2.3    Low
      voltage cabling

    

    The
      low
      voltage cabling to be installed by the Client must comply with the requirements
      cited in the current version of the Contractor’s Specification No. 104511. These
      specifications must be supplied by the Contractor - see list of technical
      documents in this section.

    

    A.2.4    Medium
      voltage cabling

    

    The
      medium voltage cabling to be installed by the Client must correspond with the
      directives and specifications of the local authorities / laws / power grid
      operator.

    

    A.2.5    Interconnecting
      station

    

    The
      interconnecting station to be installed by the Client must comply with the
      directives and specifications of the local authorities / laws / power grid
      operator.

    

    A.2.6     Power
      grid connection

    

    The
      Contractor must send the Client details of the electrical specifications for
      the
      WET - see list of documents in Annex 1. The Client is responsible for the
      connection of the wind farm to the main power grid and must obtain all the
      necessary approvals and clarify all technical details and specifications in
      respect of the power grid connection. These specifications must be made
      available to the Contractor at least four weeks before the signing of the
      contract.

    

    A.2.7    
      Foundations

    

    A2.7.1  
Foundations
      design

    

    The
      foundations will be designed by the Contractor who will provide the
      specifications for same. The specified foundations are standard flat
      foundations. Special designs might need to be considered for particular
      characteristics of the local soil: The Client is responsible for supplying
      an
      expert soil report before the Contractor draws up the site related
      specifications for the foundations. Delays in respect of delivery dates because
      of the late

     

    [initial]

     

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      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
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    provision
      of the soil report are the sole responsibility of the Client. Where soil
      conditions are such that the standard flat foundations are unsuitable, the
      Contractor will investigate the feasibility of other foundation specifications
      as well as the additional expense involved to be borne by the
      Client.

    

    A2.7.2    Unloading
      of the base tower section for attachment to the foundations

    

    Unloading
      the base tower section for attachment to the foundations falls within the
      purview of the Client’s obligations. The Client is responsible for the timely
      supply of the required crane and the hoisting equipment to the construction
      site, to ensure the careful handling of the base tower section for attachment
      to
      the foundations. The base tower section for attachment to the foundations must
      always be stored in an upright position (bottom flange underneath, upper flange
      at the top) on an even surface to prevent it becoming deformed. The Contractor
      cannot be held liable for deformities and other damage caused by careless
      handling or for any costs and delays arising therefrom.

    

    A2.7.3    Construction
      of the foundations

    

    The
      foundations are to be constructed by the Client in accordance with the
      Contractor’s specifications, see Annex 1 - Technical Documentation. The base
      tower section for attachment to the foundations will be placed on the
      foundations by the Client in accordance with the Contractor’s
      specifications.

    

    A2.7.3    Completion
      reports and certificates of quality

    

    The
      Client will provide the necessary documents as proof of the standard required
      by
      the Contractor. This documentation encompasses, but is not restricted to, the
      following points:

    

    Evidence
      that the concrete has set by means of test cubes, a leveling report, a grounding
      report, a completion report and certificates of quality.

    

    A.2.8    Site
      access and infrastructure

    

    The
      Client must place drawings of the site at the disposal of the Contractor no
      later than upon entering into this contract, with said drawings showing details
      of the construction site and the local area. The Contractor will provide the
      Client with the specifications for access roads and the crane parking space
      no
      later than two weeks after entering into this agreement; see Annex 1 - Technical
      Documentation.

     

    [initials]

    
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        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    A2.8.1    Construction
      site inspection by the Contractor

    

    If
      necessary, the Contractor will carry out a construction site inspection and
      make
      recommendations and provide the necessary specifications in respect of
      construction site access roads, crane parking space, storage areas, etc. to
      the
      Client. These recommendations and specifications will then be included in a
      construction site inspection report to be signed by both Parties and this report
      is then binding on the Client. The inspection and/ or report does not confer
      any
      liability whatsoever on the Contractor for any inadequacies which might come
      to
      light later on.

    

    A2.8.2    Suitability
      of public roads for access to the construction site

    

    The
      Client will ascertain whether access along public roads to the construction
      site
      is suitable for all heavy loads with regard to the delivery of components of
      the
      WET. The Client is responsible for every delay and all costs resulting from
      problems with or insufficient preparation of the public roads.

    

    A2.8.3    Modifications
      to public roads

    

    If
      required, the Client will obtain approval to modify public roads so they can
      be
      used for the required transportation. The Client must carry out these
      modifications and bear all costs thereto pertaining.

    

    A2.8.4    Construction
      of access roads and crane parking spaces

    

    The
      Client is responsible for constructing the access roads from the public roads
      to
      the WET site and the requisite crane parking spaces in accordance with the
      Contractor’s specifications. Sufficient temporary parking spaces for
      transportation vehicles are also to be made available by the Client. The
      Contractor cannot be held liable for delays resulting from inadequate access
      roads, crane parking spaces or temporary parking spaces. All costs associated
      with the above are to be borne by the Client.

    

    A2.8.5    Area
      for
      assembling the rotor

    

    The
      Client must ensure that a suitable work area is available for cranes to assemble
      the rotor. The Contractor cannot be held liable for delays resulting from
      inadequate work sites. All costs associated with same are to be borne by the
      Client.

    

    [initials]

     

    *****
      This material has been omitted pursuant to a
      request for confidential treatment and filed separately with the Securities
      and
      Exchange Commission.

    
       

      
        
          
          

        

        
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    A2.8.6    Completion
      reports and certificates of quality

    

    The
      Client must provide the Contractor with the necessary documentation and
      requisite reports which prove that the access roads and crane parking spaces
      have been prepared in accordance with the Contractor’s
      specifications.

    

    A.2.9    
      Telecommunications
      and remote monitoring

    

    A2.9.1    Telecommunications
      design and connection diagram for the wind farm

    

    A
      general
      design and connection diagram for telecommunications will be drawn up by the
      Client in accordance with the Contractor’s site requirements. In the event that
      a site specific design is required, the Client must bear the costs associated
      with same.

    

    A2.9.2    Excavation
      and filling in of cable trenches

    

    All
      cable
      trenches required for the communications cable must be excavated and then filled
      in again by the Client in accordance with the appropriate official directives
      and the specifications of the telecommunications network provider. The Client
      must provide the Contractor with a completion report.

    

    A2.9.3    Delivery
      and laying of telephone cable

    

    The
      communications cable must be delivered and laid by the Client in accordance
      with
      the appropriate official directives and the specifications of the
      telecommunications network provider.

    

    A2.9.4    Delivery
      and installation of ISDN connection

    

    An
      ISDN
      connection is required for remote monitoring of the WET. The Client must
      deliver, install, maintain and service the ISDN connection (NTBA Box). The
      Client must place at least three ISDN numbers at the disposal of the Contractor
      and activate them no later than two weeks before delivery of the main components
      to the construction site.

    

    A2.9.5    Delivery
      and installation of lightning protection

    

    The
      Client is responsible for the delivery and installation of lightning protection
      for the communications equipment in accordance with Specification No. 109062,
      see Annex 1 - Technical Documentation.

    

    [initials]

     

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      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
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    A2.9.6    Delivery
      and laying of cable for internal communication on the wind farm

    

    All
      cables (optical fiber) for internal communication within the wind farm must
      be
      delivered and laid by the Client. The Contractor must make the specifications
      for the cable available together with a connection diagram as described in
      A2.9.1. 

    

    A2.9.7    Completion
      report and certificates of quality

    

    The
      Client must provide the Contractor with the necessary documentation and reports
      which prove that telecommunications have been established in accordance with
      the
      requisite standard.

    

    A2.9.8    Remote
      monitoring of the wind farm

    

    The
      Contractor will install an ISDN modem in the WET and make the necessary software
      available for remote monitoring of the WET. The WET can be monitored
      simultaneously from several locations. Other hardware required for the Client’s
      remote monitoring site (computer, modem, ISDN connection, etc.) will not be
      supplied by the Contractor.

    

    A.2.10    Transportation

    

    A2.10.1  
Transportation
      of the base tower section for attachment to the foundations

    

    The
      base
      tower section for attachment to the foundations will be delivered to the
      construction site by the Client. The Client will bear the costs associated
      with
      same. 

    

    A2.10.2    Packaging
      and transportation of the tower, gondola, hub and blades to the construction
      site

    

    Transportation
      of all other components of the WET including the gondola, hub, tower, rotor
      blades and all necessary equipment is included in the agreed purview of the
      Client’s obligations in accordance with the following specifications of the
      Contractor. The main components will be packaged as follows by the Contractor:
      the rotor blades will be packaged in racks, the hub will be attached to a
      transportation frame, the flange apertures for the cable connections will be
      covered with wooden boards, the gondola will be attached to a transportation
      frame, the tower sections will be placed in racks, the flanges covered with
      plastic sheets and hoisting devices will be attached to the tower
      sections.

     

    [initials]

     

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      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
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    All
      the
      packaging material, frames and racks are the property of the Contractor and
      will
      be retained by same after the WET has been assembled and
      commissioned.

    

    A.2.11    Assembly
      and commissioning of the WET

    

    A2.11.1   Supply
      of
      cranes for the assembly

    

    The
      Client must provide all the cranes required for the assembly and commissioning
      of the WET.

    

    A2.11.2   Construction
      site safety and security

    

    The
      Client is responsible for all security matters (e.g., access control, security
      measures to prevent theft and breaking and entering, etc.) on the construction
      site and will provide secure lockable containers or construction site fencing
      as
      required by the Contractor.

    

    A2.11.3    Assembly
      of the WET

    

    All
      work
      involved in fully assembling the WET is to be carried out by the
      Contractor.

    

    A2.11.4    Connection
      of the WET to low voltage cabling, ISDN, communications and
      grounding

    

    The
      Contractor must connect the WET to the low voltage cabling, the ISDN line,
      the
      cable for wind farm communications and the grounding installations.

    

    A2.11.5    Commissioning
      of the WET

    

    After
      assembly, all work involved in the commissioning of the WET must be carried
      out
      by the Contractor.

    

    A2.11.6    Safety
      and
      security on the construction site; responsibility of the Client

    

    The
      Client must appoint a construction site manager who will coordinate operations
      on the construction site and ensure compliance with industrial health and safety
      standards and instructions. The Client is responsible for the safety and
      security of its own employees during the performance of its work.

     

    [initials]

    
       

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        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    A2.11.7   Safety
      and security on the construction site; responsibility of the
      Contractor

    

    The
      Contractor is responsible for the safety and security of its own employees
      during the performance of its work.

    

    A.2.12    Trial
      operating period

    

    A2.12.1   Monitoring
      and completion of the trial operating period

    

    The
      work
      required for the successful completion of the trial operating period defined
      in
      Section 2.2.7 must be carried out and monitored by the Contractor.

    

    A.2.13    Routine
      maintenance

    

    A2.13.1   Routine
      maintenance during the warranty period

    

    See
      the
      specifications in Section 5.2 of this document.

    

    A2.13.2   Routine
      cleaning of the rotor blades

    

    The
      rotor
      blades are to be thoroughly cleaned by the Client on a regular basis after
      annual inspections as the efficiency of the wind energy installation is
      influenced by the cleanliness of the rotor blades. If not adequately cleaned,
      the Contractor cannot maintain the values of the performance curve defined
      in
      the warranty. 

    

    A.2.14    Supporting
      technical documentation

    

    See
      Annex
      1 of this document.

    

    A.2.15    Options

    

    A2.15.1   Night
      time identification markings

    

    Depending
      on the directives of the local authorities, night time identification markings
      can be required on the gondola. The Client is responsible for checking whether
      or not night time identification markers 

     

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        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    are
      required and if so what kind, and must advise the Contractor of these
      requirements. The Contractor will offer the nighttime identification markings
      as
      an option for a surcharge.

    

    A2.15.2    Markings
      on Rotor Blades

    

    Depending
      on the regulations of the local authorities, special colored markings or other
      markings may be necessary on the rotor blades for identification. The principal
      is responsible for verifying whether and what type of marking is necessary
      and
      shall inform the contractor of these regulations. The contractor shall offer
      the
      marking as an option at an additional cost.

    

    A2.15.3    A2.15.4. Climbing
      aid/electric elevator

    

    An
      elevator for material and passenger transport within the tower shall be offered
      by the contractor upon request as an option at an additional cost. The maximum
      load is designed for 200 kg or two passengers.

    

    Alternatively,
      a climbing aid can be installed on the ladder for easy climbing. The contractor
      shall offer this climbing aid as an option at an additional cost.

    

    A2.15.4.    A2.15.5 Ice
      Sensor

    

    Ice
      build-up can occur on the rotor blades under certain weather conditions. An
      ice
      sensor that is integrated into the control of the WET shall be offered by the
      contractor upon request as an option at an additional cost. The WET can be
      stopped in order to minimize the danger resulting from ice build-up on the
      rotor
      blades.

    

    A2.15.5.    A2.15.6 Wind
      Measurement Mast

    

    The
      installation of a wind measurement mast at the location shall be offered for
      wind measurement purposes by the contractor upon request as an option for an
      additional cost. The principal is responsible for obtaining the necessary
      permits and shall bear all costs, including those for the necessary permits,
      the
      installation and the operation of the wind measurement mast and for the
      evaluation of the findings. As an option, the signals from the sensors installed
      on the wind measurement mast can be collected and displayed by the EOS SCADA
      system. A correlation between the results of the wind measurement and the
      performance data of the WET shall be examined on an individual case basis by
      the

    

    [initials]

     

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      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
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    contractor,
      taking into account the requirements for a location capable of taking
      measurements according to FGW (Federation
      of German Windpower)
      guidelines and, if feasible, to be offered upon request at an additional
      cost.

    

    A2.15.6.   A2.15.7 Reduced-Noise
      Operation

    

    A
      reduced-noise-operating mode in the WET control shall be offered by the
      contractor upon request as an option at an additional cost.

    

    A2.15.7    A2.15.8 Shadow-Cast
      Switchoff

    

    A
      sensor
      to record the environmental conditions at which a shadow cast occurs shall
      be
      offered by the contractor upon request as an option at an additional cost.
      This
      sensor is integrated into the WET control and switches off the WET if
      necessary.

    

    A2.15.8   A2.15.9 Training
      Courses

    

    Training
      courses for instructing the principal’s employees shall be offered by the
      contractor upon request as an option at an additional cost. These courses can
      cover service and maintenance work as well as safety issues.

    

    A2.15.10  
Fire
      Protection System

    

    An
      automatic fire-alarm and fire-extinguishing system for the main components
      in
      the interior of the nacelle shall be offered by the contractor upon request
      as
      an option at an additional cost. By installing this system it may be possible
      to
      reduce the insurance premium. The principal shall be responsible for the service
      and maintenance of the fire protection system.

    

    A2.15.9
      A2.15.11    Special
      Environmental Conditions

    

    The
      contractor shall offer upon request as an option at an additional cost the
      adaptation of the WET to special environmental conditions, e.g., proximity
      to
      the coast or industrial locations or locations with ambient temperatures that
      deviate from the data in Section 4.1 of this document. In addition, for example,
      special coatings that deviate from the contractor’s standard specifications can
      be offered as an option at an additional cost.

    

    [initials]

     

    
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        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
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    A2.15.10    A2.15.12    Adjustment/Expansion
      of the EOS SCADA System

    

    Adjustments
      or expansions of the EOS SCADA system for the principal’s remote monitoring
      system shall be offered by the contractor upon request as an option at an
      additional cost. The prerequisite for this option is that the SCADA system
      can
      be modified according to the principal’s requirements. If this is possible, a
      separate timeline and cost plan must be agreed on by the parties in order to
      implement these adjustments or expansions.

    

    A2.15.11    A2.15.13    Special
      Grid Connection Conditions

    

    The
      standard design of the WET electric system meets the requirements of the German
      standard network code and is VDE-compliant (Verband Deutscher Elektrotechniker)
      as specified in Section 4.5 of this document. An adjustment to meet the grid
      connection conditions of other countries or special requirements of individual
      operators is offered by the contractor upon request as an option at an
      additional cost.

    

    A2.15.12    A2.15.14    Reduction
      of Harmonics

    

    The
      operation of the converter with an active software module for reducing harmonics
      shall be offered by the contractor upon request as an option at an additional
      cost. Through this harmonic requirements for specific locations with respect
      to
      harmonics at the point of common coupling (PCC) are reduced. 

    

    A2.15.13    A2.15.15    Full
      Converter Operation

    

    The
      contractor shall offer upon request as an option at an additional cost the
      operation of the converter/generator at low output in full converter operating
      mode. Through this the energy yield at low wind speeds depending on the wind
      distribution is increased at the respective location/project.

    

    A2.15.14    A2.15.16    Miscellaneous

    

    All
      other
      requirements by the principal not specified in this contract must be discussed
      with the contractor. Provided that they are reasonably technically and
      economically feasible, the contractor shall then offer a solution to these
      special requirements at an additional cost and based on a separate
      timeline.

     

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      This material has been omitted pursuant to a
      request for confidential treatment and filed separately with the Securities
      and
      Exchange Commission.

    
       

      
        
          
          

        

        
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    A.2.16    Other
      Responsibilities of the Principal

    

    A2.16.1   Building
      and Planning Approvals

    

    It
      is the
      principal’s responsibility to obtain all approvals as required for the
      building/planning of the wind energy turbine / wind park and to pay all related
      costs. The contractor supports the principal to the greatest possible extent
      by
      providing documents and information. The principal is responsible and liable
      for
      any delay due to missing assessments, reports and documents required and must
      reimburse the contractor for any additional costs incurred due to such
      delays.

    

    A2.16.2    Location
      Assessment and Environmental Report

    

    The
      principal must examine the location’s suitability for the erection of a wind
      energy turbine or wind park and must supply all required location assessments.
      He must examine environmental aspects and all objections that may influence
      the
      time schedule and inform the contractor accordingly. The principal is
      responsible and liable for any delay due to missing assessments, reports and
      documents required and must reimburse the contractor for any costs incurred
      due
      to such delays.

    

    A2.16.3    License
      or Contract for the Connection to the Power Supply System

    

    It
      is the
      principal’s responsibility to obtain all required licenses / contracts for the
      connection of the wind energy turbine / wind park to the power supply system.
      The principal is responsible and liable for all delays in the submission of
      the
      assessments, reports and documents required and must reimburse the contractor
      for all additional costs incurred due to delays in obtaining the required
      licenses or contracts.

    

    A2.16.4    Financing  

    

    The
      principal is responsible for the complete financing of the project. Financing
      must be secured at the time of signing of the contract by the two parties at
      the
      latest. On the contractor’s request the principal must submit a finance
      confirmation on conclusion of this contract.

     

    [initials]
      

     

    *****
      This material has been omitted pursuant to a
      request for confidential treatment and filed separately with the Securities
      and
      Exchange Commission.

    
       

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    A2.16.5 Micrositing
      Report (Wind Assessment and Park Layout)

    

    By
      the
      time of contract conclusion the principal must provide a micrositing report
      containing detailed information on the wind conditions and a park layout showing
      the minimum distances between the wind energy turbines for the location. As
      a
      minimum requirement the principal must provide a declaration on the IEC location
      classification with details on 50 years’ wind gusts and the median wind speeds.
      The contractor can select the wind energy turbines for the location based on
      the
      data of this micrositing report.

    

    The
      contractor can, however, not be held liable for the exactness of this data
      and
      is not liable for any contract penalties or costs based on damage or changes
      to
      the wind energy turbines if the actual wind conditions at the location deviate
      from the conditions as specified in the micrositing report.

     

    A2.16.6 Turbulence
      Assessment 

    

    It
      is the
      principal’s responsibility to obtain a turbulence assessment for the location
      within 6 months from contract conclusion. This assessment, which should contain
      a statement on the stability of the wind energy turbines and a recommendation
      for their location under consideration of the effects of turbulences, must
      be
      issued by an independent expert or institute approved by both
      parties.

     

    [initials]

     

    ***** This material has been omitted pursuant to a request
      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

    

    
      
        	
                EXHIBIT
                  10.1

                REDACTED
                  COPY

              	 
	 	 
	
                DeWind Ltd.

              	
                DEWIND

              

      

    

    

    Technical
      specifications of the gondola

     

    [see
      source for figure]

    

      
        	
                1
                  Rotor latching

              	
                9
                  Azimuth drive 

              
	 	 
	
                2
                  Main bearing

              	
                10
                  Azimuth bearing

              
	 	 
	
                3
                  Rotor shaft

              	
                11
                  Basic frame (front part)

              
	 	 
	
                4
                  Gearbox

              	
                12
                  Basic frame (rear part)

              
	 	 
	
                5
                  Clutch and brake

              	
                13
                  Gondola entrance

              
	 	 
	
                6
                  Generator with heat exchanger

              	
                14
                  Hydraulics unit

              
	 	 
	
                7
                  Gondola with wind mast

              	
                15
                  Electric control box

              
	 	 
	
                8
                  Gondola casing

              	
                16
                  Heat exchanger Gearbox

              

      

    

    

    ***** This material has been omitted pursuant to a request
      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
        42

        
          

        

      

      
        
        

      

    

    
      
        	
                EXHIBIT
                  10.1

                REDACTED
                  COPY

              	 
	 	 
	
                DeWind Ltd.

              	
                DEWIND

              

      

    

    

    A.2.17 Rotor
      latching

    

    ******

    

    A.2.18 Main
      bearing

    

    ******

    

    A.2.19 Rotor
      shaft

    

    ******

    

    A.2.20 ******

    

    ******

    

    
      	
              ******

            	 
	
              ******

            	
              ******

            
	
              ******

            	 
	
              ******

            	 
	
              ******

            	 
	
              ******

            	 
	
              ******

            	 

    

    

    ******

    

    A.2.21 Clutch
      and brakes

    

    ******

    

    [initials]

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          43

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    A.2.22 ******

     

     ******

    
      	
              ******

            	
              ******

            
	 	 
	
              ******

            	
              ******

            
	
              ******

            	 
	
              ******

            	 
	
              ******

            	 
	
              ******

            	 
	
              ******

            	 
	
              ******

            	 
	
              ******

            	 
	
              ******

            	
              ******

            

    

    

    A.2.23 Wind
      measurement mast gondola

    

    ******

    

    A.2.24 Gondola
      casing

    

    ******

    

    [initials]

     

    
      *****
        This material has been omitted pursuant to a
        request for confidential treatment and filed separately with the Securities
        and
        Exchange Commission.

       

      
        
          
          

        

        
          44

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    A.2.25 Azimuth
      drive

    

    ******

    

    A.2.26 Azimuth
      bearing

    

    ******

    

    A.2.27 Basic
      frame (front part)

    

    ******

    

    A.2.28 Basic
      frame (rear part)

    

    ******

    

    A.2.29 Gondola
      entrance

    

    ******

    

    A.2.30 Hydraulics
      unit

    

    ******

    

    A.2.31 Electric
      control box

    

    ******

    

    
      	
              ******

            	
              ******

            

    

    
 

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          45

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

      

    

    

    
      	
              ******

            	
              ******

            
	
              ******

            	
              ******

            
	
              ******

            	
              ******

            
	
              ******

            	
              ******

            
	
              ******

            	
              ******

            

    

    

    ******

    

    ******

    

    A.2.32 Heat
      exchanger in gearbox

    

    ******

    

    [initials]

    ***** This material has been omitted pursuant to a request
      for
      confidential treatment and filed separately with the Securities and Exchange
      Commission.

     

    
      
        
        

      

      
        46

        
          

        

      

      
        
        

      

    

    
      
        	
                EXHIBIT
                  10.1

                REDACTED
                  COPY

              	 
	 	 
	
                DeWind Ltd.

              	
                DEWIND

              

      

    

    

    Annex
      3.  Deviations
      from Employer Specifications

     

    No
      further technical specifications have been defined by the Employer.

     

    

    

    [initials]

     

    

    

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          47

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

      

    

    

    Annex
      4. Reference
      List and Supporting Documents

     

    A
      list of
      references is available on request.

    

    No
      other
      documents are supplied. 

    

    

    

    [initials]

    

    

    
      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          48

          
            

          

        

        
          
          

        

      

      
        
          	
                  EXHIBIT
                    10.1

                  REDACTED
                    COPY

                	 
	 	 
	
                  DeWind Ltd.

                	
                  DEWIND

                

        

         

      

    

    
      	Vienna, October 22, 2007	[stamp
              of S & M CZ s.r.o]

    

     

    
      	
              [signature]

            	
              [signature]

            	 

    

    
       

      
        	 	 	 
	 	 	
              

      

       

    

     

    
      
        	Martin Hofmann, S & M CZ s.r.o	 

      

       

      
        	
                [signature]

              	
                [signature]

              	 

      

      

      
        
          

        

      

      
         

        
          	 	 	
                
	Matthias Krebs, DeWind Ltd.	Rainer
                  Goebel, DeWind Ltd.

        

         

    

    

    

    Approved
      by and accepted by upon the receipt of acceptable bank guaranty for the contract
      payment:

    
       

      
        	
                [signature]

              	January
                30, 2008 
	 	 
	
                Benton
                  H Wilcoxon, Chairman, DeWind
                  Ltd.

              	Date
                Accepted

      

       

    

    

      ***** This material has been omitted pursuant to a request
        for
        confidential treatment and filed separately with the Securities and Exchange
        Commission.

       

      
        
          
          

        

        
          49May
      18,
      2007

     

     

    Mr.
      Richard M. Shepperd

    1664
      Rockcrest Hills Ave.

    Henderson,
      NV 89052

     

    Dear
      Richard:

     

    The
      Board
      of Directors of Bioanalytical Systems, Inc. (the "Company")
      has
      approved the grant of non-qualified stock options to you. This letter will
      serve
      as notice of the grant, effective as of the date of this letter (the
      "Date
      of Grant"),
      and
subject
      to and conditioned in all respects on the approval of the shareholders of the
      Company,
      of
      an
      option to purchase (the "Option")
      275,000 of the Common Shares of the Company (the "Option
      Shares")
      on the
      terms and conditions set forth herein, and upon your execution and delivery
      to
      the Company of the copy of this letter included herein will constitute our
      agreement as to those terms. This
      Option has not been granted under the terms of the Company’s employee stock
      option plans, and is not a "qualified" stock option as defined by the Internal
      Revenue Service.
      You are
      urged to consult with your tax advisors concerning the tax effect of the grant
      and exercise of this Option.

     

    1. OPTION
      PRICE.
      The
      purchase price of the Option Shares is $7.10 per share (the "Option
      Price").

     

    2. MEDIUM
      AND TIME OF PAYMENT.
      You
      must pay the Option Price with respect to the Option Shares being purchased
      at
      the time you exercise the Option. The Option Price may be paid either (a) in
      cash; (b) by certified check or by bank cashier's check; (c) if you can do
      so
      without violating Section 16(b) of the Securities Exchange Act of 1934, through
      the tender to the Company of outstanding Common Shares, which shall be valued,
      for purposes of determining the extent to which the purchase price has been
      paid, at the fair market value of the Common Shares on the date of exercise
      of
      the Option; (d) by surrendering a sufficient portion of the vested Option based
      on the difference between the exercise price of the Option and the fair market
      value at the time of exercise of the Shares subject to the Option, or (e) by
      any
      combination of (a), (b), (c) and (d).

     

    3. TERM
      AND EXERCISABILITY OF OPTIONS.
      The
      Option is effective immediately upon your acceptance of this letter subject
      only
      to approval of the Company's shareholders. Unless the Option is terminated
      or
      vesting of the Option or any portion thereof is accelerated (in each case as
      provided in this letter), the Option shall vest and become exercisable in three
      installments, as follows: (a) as to the first installment of 75,000 shares,
      at
      5:00 p.m., West Lafayette, Indiana time, on the day the shareholders of the
      Company approve the Option, (b) as to the second installment of 100,000 shares,
      on December 1, 2008, and (c) as to the third installment of 100,000 shares,
      on December 1, 2009. The Option shall also vest and become exercisable as
      to all unvested Option Shares upon the occurrence of a "Change in Control"
      as
      defined in your Employment Agreement with the Company of even date herewith,
      as
      the same may be amended from time to time. The Option will be considered to
      have
      been effectively exercised only upon delivery to the Company, with a copy to
      the
      Chair of the Compensation Committee of the Board of Directors of the Company,
      of
      the Option Price and a "Notice
      of Exercise"
      in the
      form attached hereto, and the satisfaction of all other conditions described
      in
      this letter. The Option shall expire as to all unexercised Option Shares at
      the
      close of business on the tenth anniversary of the date of this letter (or on
      the
      next business day if that date is a Saturday, Sunday or holiday).

     

    4. APPROVAL
      BY SHAREHOLDERS.
      The
      Option granted hereby is conditioned upon and subject to approval by the
      shareholders of the Company. In the event that the shareholders of the Company
      fail to approve the grant of the Option within twelve (12) months of the date
      of
      this letter, the Option shall be null and void and of no effect, and neither
      you
      nor the Company shall have any continuing rights or obligations hereunder.
      The
      Company will submit the Option to its shareholders for approval at the first
      annual or special meeting of its shareholders occurring after the date hereof,
      and in any event prior to the expiration of twelve (12) months from the date
      hereof.

     

    5. CESSATION
      OF SERVICE WITH THE COMPANY.
      In the
      event you cease to serve as an employee of the Company or any of its
      subsidiaries, this Option shall terminate immediately upon termination of
      employment as to any unexercised Option Shares; provided, however, that if
      termination of employment is due to retirement with the consent of the Company,
      the expiration of the term of your employment with the Company set forth in
      your
      employment agreement, or is due to a permanent and total disability, you shall
      have the right to exercise the Option with respect to the Common Shares for
      which it could have been exercised on the effective date of termination of
      employment at any time within three (3) months after the termination date.
      In
      the event of your death while serving as an employee of the Company or any
      of
      its subsidiaries, your personal representative shall have the right to exercise
      this Option with respect to the Common Shares for which it could have been
      exercised on the date of your death at any time within six (6) months of your
      death. Whether termination is a retirement with the consent of the Company
      or
      due to permanent and total disability, and whether an authorized leave of
      absence on military or government service shall be deemed to constitute
      termination of employment for the purposes of this Option, shall be determined
      by the Board of Directors in its sole discretion, which determination shall
      be
      final and conclusive.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    6. RECAPITALIZATION.
      The
      number of Option Shares and the Option Price each shall be proportionally
      adjusted for any increase or decrease in the number of issued Common Shares
      resulting from a subdivision or consolidation of shares of the Company, the
      payment of a share dividend, a share split or other increase or decrease in
      the
      outstanding Common Shares effected without receipt of consideration by the
      Company (including an increase or decrease effected as a part of the
      Recapitalization of the Company, as defined herein). In the event that there
      shall be a recapitalization or reorganization of the Company or a
      reclassification of its outstanding shares (each a "Recapitalization")
      as a
      result of which other shares (the "New
      Shares")
      are
      issued in exchange for Common Shares, then there shall be substituted for the
      Option Shares then issuable hereunder that number of New Shares into which
      those
      Option Shares have been converted had they been outstanding at the effective
      date of the Recapitalization.

     

    7. MERGER,
      DISSOLUTION.
      If the
      Company shall enter into any agreement of merger or consolidation (whether
      or
      not it shall be the surviving entity thereunder), the Company shall have the
      right to terminate this Option as of any date specified in a written notice
      given to you not less than 30 days prior to the termination date. If the merger
      or consolidation described in that notice is not consummated within 180 days
      following the termination date of this Option specified in the notice, this
      Option thereafter shall be deemed to have been continuously in effect since
      the
      date hereof. In the event of the sale of all or substantially all of the assets
      of the Company and the distribution of the proceeds thereof to shareholders
      in
      liquidation of the company, the Company shall give you 30 days prior written
      notice specifying record date for the purpose of determining the shareholders
      entitled to participate in that distribution and this Option shall expire as
      to
      all Option Shares that remain unexercised as of the date of that
      distribution.

     

    8. NONASSIGNABILITY.
      This
      Option is not assignable or transferable except by will or under the laws of
      descent and distribution. During your lifetime, this Option shall be exercisable
      only by you (or if you become incapacitated, by your legal guardian or
      attorney-in-fact).

     

    9. ISSUANCE
      OF SHARES AND COMPLIANCE WITH SECURITIES LAWS.
      The
      Company may postpone the issuance and delivery of certificates representing
      Common Shares until (a) the admission of such shares to listing on any exchange
      on which shares of the Company of the same class are then listed and (b) the
      completion of any requirements for registration or other qualification of the
      shares under any state or Federal law, rule or regulation or the rules and
      regulations of any exchange upon which the Common shares are traded as the
      Company shall determine to be necessary or advisable. The Company shall use
      its
      reasonable commercial efforts to complete any required registration or other
      qualification. You have no right to require the Company to register the Common
      Shares acquired upon the exercise of this Option under federal or state
      securities laws. As a condition to the effective exercise of this Option you
      may
      be required to make such representations and furnish such information as may,
      in
      the opinion of counsel for the Company, be appropriate to permit the Company
      to
      determine whether registration or qualification of those shares is required
      in
      connection with that transaction.

     

    10. RIGHTS
      AS A SHAREHOLDER.
      You
      shall have no rights as a shareholder with respect to Common Shares subject
      to
      this Option until the date of issuance of a certificate to you. A certificate
      will not be issued until you have exercised the Option, fully paid for the
      Common Shares acquired thereby and satisfied all other details described in
      this
      letter. No adjustment will be made for dividends or other rights for which
      the
      record date is prior to the date a certificate is issued.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    11. NO
      OBLIGATION TO EXERCISE OPTION.
      The
      grant of this Option imposes no obligation upon you to exercise the
      Option.

     

    12. NO
      OBLIGATION TO CONTINUE EMPLOYMENT.
      The
      grant of this Option to you does not constitute any contract of employment
      between you and the Company, and does not impose any obligation of the Company
      to continue your employment.

     

    13. WITHHOLDINGS.
      As a
      condition to the effective exercise of this Option, the Company shall have
      the
      right to require you to remit to the Company amounts sufficient to satisfy
      any
      applicable withholding requirements set forth in the Internal Revenue Code
      of
      1986, as amended, or under state or local law relating to the Option. The
      Company shall have the right, to the extent permitted by law, to deduct from
      any
      payment of any kind otherwise due to you any federal, state or local taxes
      of
      any kind required by law to be withheld with respect to the exercise of the
      Option.

     

    14. POWER
      AND AUTHORITY.
      The
      Board of Directors shall have the full power and authority to take all actions
      and make all determinations required or provided for under the terms of this
      Option; to interpret and construe the provisions of this letter, which
      interpretation or construction shall be final, conclusive and binding on the
      Company and you; and to take any and all other actions and make any and all
      other determinations not consistent with the specific terms and provisions
      of
      this letter which the Board of Directors deems necessary or
      appropriate.

     

    Please
      acknowledge your receipt of this letter and your agreement to the terms set
      forth herein by signing and returning the copy enclosed for that
      purpose.

     

    
      	
               

            	
               

            	
               

            
	
               

            	
              Very
                truly yours,

               

              BIOANALYTICAL
                SYSTEMS, INC.

            
	
               

               

            	
               

               

            	
               

               

            
	
               

            	
              By:  

            	
              /s/ Michael
                R. Cox

            
	
               

            	
               

            	
              Michael
                R. Cox, Vice President-Finance and 

              Chief
                Financial Officer

            
	
               

            	
               

            	
               

            
	
               

            	
              Accepted
                and agreed to:   

            
	
               

            	
               

            
	
               

            	
              /s/
                Richard M. Shepperd

            
	 	Richard
              M.
              Shepperd

    

     

    
      	
               

            	
              Date:

            	May 18,
              2007

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

     

    BIOANALYTICAL
      SYSTEMS, INC.

     

    NOTICE
      OF EXERCISE

     

    

    Date:
      __________

     

    Mr.
      Michael R. Cox

    Chief
      Financial Officer

    BIOANALYTICAL
      SYSTEMS, INC.

    2701
      Kent
      Avenue

    West
      Lafayette, Indiana 47906

     

    Dear
      Mr.
      Cox:

     

    Pursuant
      to the agreement dated May 18, 2007 granting me an option ("Option")
      with
      respect to the purchase of Common Shares of Bioanalytical Systems, Inc.,
      please accept this letter as notice of exercise of the Option with respect
      to
      ___________ Common Shares. I am tendering full payment to the Company for the
      Common Shares and all applicable withholdings in one or more of the following
      forms:

     

    
      	 	
              1.

            	
              Cash
                in the amount of $__________.

            

    

     

    
      	 	
              2.

            	
              Certified
                or bank cashier's check in the amount of $__________.

            

    

     

    
      	 	
              3.

            	
              Tender
                to the Company of __________
                outstanding
                Common Shares.

            

    

     

    
      	 	
              4.

            	
              Surrender
                of vested Options to purchase
                __________ Common Shares that are subject to the
                Option.

            

    

     

    Unless
      I
      have delivered herewith sufficient funds to pay in full all required
      withholdings under applicable law, I authorize the Company to withhold from
      the
      Common Shares otherwise issuable to me as a result of this exercise of the
      Option to pay in full all such required withholdings.

     

    
      	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	 	
               

            	
               

            	
              Signature

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
              Printed
                Name

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
              Address

            
	
               

            	
               

            	
               

            	
               

            

    

    

    
      
        
        

      

      
        4

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