Document:

Exhibit
      10(x)

    INSTRUMENT
      OF AMENDMENT TO THE 

    MERRIMAC
      INDUSTRIES, INC.

    AMENDED
      AND RESTATED SEVERANCE PLAN

    (AS
      ADOPTED ON MARCH 29, 2006)

    

    WHEREAS,
      Merrimac
      Industries, Inc. (the “Company”) maintains the Merrimac Industries, Inc. Amended
      and Restated Severance Plan (the “Plan”); and 

    WHEREAS,
      Section
      10 of the Plan provides that the Board of Directors of the Company (the “Board”)
      may amend the Plan in certain respects upon notice to all Plan participants;
      and

    WHEREAS,
      the
      Board
      wishes to amend the Plan.

    NOW,
      THEREFORE, the
      Plan
      is hereby amended, effective December 13, 2007, as follows: 

     

    5. Section
      2
      of the Plan is amended by adding the following new definition immediately after
      the definition of “Date of Termination” and immediately before the definition of
“Disability”:

     

    ““Delegate”
      shall mean such person or persons to whom the Board has delegated authority
      with
      respect to the Plan.”

     

    6. The
      first
      sentence of the definition of the term “Participant” in Section 2 of the Plan is
      amended to read in its entirety as follows

     

    ““Participant”
      shall mean each key executive management employee of the Company or any of
      its
      subsidiaries who shall be designated from time to time by the Board (or its
      Delegate).”

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    7. Section
      3(a)(i) of the Plan is amended to read in its entirety as follows:

     

    “(i) The
      Company shall pay to the Participant, in accordance with the Company’s regular
      payroll schedule, an amount equal to an amount designated from time to time
      by
      the Board (or its Delegate), such amount being either one time or two times
      the
      Annual Base Salary of the Participant; provided that such amount cannot be
      changed following a Change in Control.”

     

    8. Section
      3(c) of the Plan is amended to read in its entirety as follows:

     

    “(c) All
      Severance Payments under Section 3(a)(i) shall be payable at such times as
      determined by the Board (or its Delegate), provided that all such Severance
      Payments shall be made and completed prior to the later of (x) March 15 of
      the
      calendar year following the calendar year in which such termination occurs
      or
      (y) two and one-half months after the end of the Company’s taxable year in which
      such termination occurred; provided, further, that such Severance Payments
      shall
      be made in accordance with Section 409A of the Code.”

     

    9. Section
      4
      of the Plan is amended to read in its entirety as follows:

     

    “4. Additional
      Arrangements. As a condition to the Participant receiving Severance Payments
      pursuant to Section 3 above (such Severance Payments being consideration for
      the
“Arrangements” defined below), the Participant shall enter into such
      non-competition/non-solicitation/confidentiality arrangements and restrictive
      covenants (“Arrangements”) as the Board (or its Delegate) shall deem
      appropriate.”

     

    
      	
              MERRIMAC
                INDUSTRIES, INC.

            
	 
	
              By:
                

            	
              /s/
                Robert V. Condon

            
	 	
              Name:
                Robert V. Condon

            
	 	
              Title:   
                Vice President, Finance and 

                          
                Chief Financial Officer

            
	 	
              Date:   
                December 13, 2007

            

    

    
      
        
        

      

      
        2EX-4.12 ORDINARY SHARE PURCHASE WARRANT

 

Exhibit
4.12

     THIS WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
APPLICABLE STATE SECURITIES LAWS AND HAVE BEEN ISSUED PURSUANT TO AN EXEMPTION THEREFROM. EXCEPT
AS PERMITTED UNDER APPLICABLE FEDERAL AND STATE SECURITIES LAWS, THE WARRANT AND ANY SHARES
ACQUIRED UPON THE EXERCISE OF THIS WARRANT MAY NOT BE SOLD OR OTHERWISE DISPOSED OF IN THE ABSENCE
OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS, OR AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

*****************************************

Suntech Power Holdings Co., Ltd.

ORDINARY SHARES PURCHASE WARRANT

*****************************************

     This certifies that, for good and valuable consideration, Suntech Power Holdings Co., Ltd., a
Cayman Islands corporation (the “Company”), grants to MEMC Electronic Materials, Inc., a
Delaware corporation (the “Warrantholder”), the right to subscribe for and purchase from
the Company the number of validly issued, fully paid and nonassessable shares (the “Warrant
Shares”) of the Company’s Ordinary Shares, $0.01 par value (the “Ordinary Shares”)
specified in Section 1.1 hereof, at the purchase price per share (the “Exercise Price”)
determined as set forth in Section 1.3 hereof, as may be adjusted in accordance with the terms
hereof, exercisable at any time and from time to time during the Exercise Period, as defined in
Section 1.6 hereof, all subject to the terms, conditions and adjustments herein set forth. See
Section 8 for definitions of certain terms used herein.

 

 

     1. Warrant Terms Generally.

     1.1 Number of Warrant Shares.

     Subject to Section 1.6 below, this Warrant shall enable the Warrantholder to purchase seven
million three hundred fifty nine thousand six hundred thirty six (7,359,636) Ordinary Shares, as
such number may be adjusted pursuant to the terms hereof.

     1.2 Duration and Exercise of Warrant.

     (a) Cash Exercise. Subject to Section 1.6, this Warrant may be exercised by the Warrantholder
by (i) the surrender of this Warrant to the Company, with a duly executed Exercise Form specifying
the number of Warrant Shares to be purchased, during normal business hours on any Business Day
during the Exercise Period and (ii) the delivery of payment to the Company, for the account of the
Company, (A) by wire transfer of immediately available funds to a bank account specified by the
Company, of the Exercise Price for the number of Warrant Shares specified in the Exercise Form in
United States Dollars, (B) by forgiveness or the offsetting of an amount of accounts receivable
from the Company to the Warrantholder equal to the Exercise Price for the number of Warrant Shares
specified in the Exercise Form in United States Dollars or (C) by any combination of the foregoing.
Subject to Section 1.6, the Company agrees that such Warrant Shares shall be deemed to be issued
to the Warrantholder as the record holder of such Warrant Shares as of the close of business on the
date on which this Warrant shall have been surrendered and payment made for the Warrant Shares as
aforesaid. Subject to Section 1.6, a stock certificate or certificates for the Warrant Shares
specified in the Exercise Form shall be delivered to the Warrantholder as promptly as practicable,
and in any event within 10 days thereafter. If this Warrant shall have been exercised only in
part, the Company shall, at the time of delivery of the stock certificate or certificates, deliver
to the Warrantholder a new Warrant evidencing the rights to purchase the remaining Warrant Shares,
which new Warrant shall in all other respects be identical with this Warrant. No adjustments shall
be made on Warrant Shares issuable on the exercise of this Warrant for any cash dividends paid or
payable to holders of record of Ordinary Shares prior to the date as of which the Warrantholder
shall be deemed to be the record holder of such Warrant Shares.

     (b) Net Issue Exercise. In lieu of exercising this Warrant pursuant to Section 1.2(a), this
Warrant may be exercised by the Warrantholder by the surrender of this Warrant to the Company, with
a duly executed Exercise Form marked to reflect Net Issue Exercise and specifying the number of
Warrant Shares to be purchased, during normal business hours on any Business Day during the
Exercise Period. Subject to Section 1.6, the Company agrees that such Warrant Shares shall be
deemed to be issued to the Warrantholder as the record holder of such Warrant Shares as of the
close of business on the date on which this Warrant shall have been surrendered as aforesaid. Upon
such exercise, the Warrantholder shall be entitled to receive shares equal to the value of this
Warrant (or the portion hereof being exercised) computed as of the date of surrender of this
Warrant to the Company using the following formula:

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	 	X =
	 	Y x (A-B)
	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	A	 	 

	 	 	 	 	 
	Where

	 	X =
	 	the number of Ordinary Shares to be issued to Warrantholder
under this Section 1.2(b);
	 
	 	 	 	 
	 

	 	Y =
	 	the number of Ordinary Shares otherwise purchasable under this Warrant
(at the date of such calculation);
	 
	 	 	 	 
	 

	 	A =
	 	the fair market value of one Ordinary Share (as of the Trading Day
immediately preceding the date of such calculation);
	 
	 	 	 	 
	 

	 	B =
	 	the Exercise Price (as adjusted to the date of such calculation).

     (c) Fair Market Value. For purposes of Sections 1.2(b) and 6.1(d), “fair market value” of one
Ordinary Share shall mean:

     (i) the closing price per Ordinary Share on the New York Stock Exchange or,

     (ii) if not listed or traded on any such exchange, the last reported sales
price per share on any United States over the counter market or,

     (iii) if such quotations are not available, the fair market value per Ordinary
Share as of the date in question as reasonably determined by the Board of Directors
of the Company.

     1.3 Exercise Price.

     The Exercise Price shall be $27.97 per Warrant Share, as such price may be adjusted from time
to time pursuant to Section 6 hereof.

     1.4 Payment of Taxes. The issuance of certificates for Warrant Shares shall be made without
charge to the Warrantholder for any stock transfer or other issuance tax in respect thereto;
provided, however, that the Warrantholder shall be required to pay any and all taxes which may be
payable in respect of any transfer involved in the issuance and delivery of any certificate in a
name other than that of the then Warrantholder as reflected upon the books of the Company.

     1.5 Information. Upon receipt of a written request from a Warrantholder, the Company agrees
to deliver promptly to such Warrantholder a copy of its current publicly available financial
statements and to provide such other publicly available information concerning the Company as such
Warrantholder may reasonably request in order to assist the Warrantholder in evaluating the merits
and risks of exercising the Warrant and to make an informed investment decision in connection with
such exercise.

     1.6 Exercise Period. This Warrant shall vest, and shall become exercisable in five (5)
separate twenty percent (20%) annual increments, with the first twenty percent (20%) annual increment being exercisable commencing on January 1, 2008. Each additional (20%)
annual

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increment shall become exercisable on January 1, 2009, January 1, 2010, January 1, 2011 and
January 1, 2012, respectively. After a portion of the Warrant has become exercisable pursuant to
the two preceding sentences, that portion of the Warrant shall be exercisable at any time and from
time to time from such date for the next five years (such period, the “Exercise Period”).

     2. Restrictions on Transfer; Restrictive Legends.

     2.1 Restrictions on Transfer; Compliance with Securities Laws. This Warrant is not assignable
except to a wholly-owned subsidiary of the Warrantholder, which shall thereafter be deemed to be
the Warrantholder for all purposes herein. Except with the Company’s prior written consent, which
shall not be unreasonably withheld, the Warrant Shares issued upon the exercise of the Warrant may
not be transferred or assigned in whole or in part without compliance with all applicable federal
and state securities laws by the transferor and transferee (including the delivery of investment
representation letters and legal opinions reasonably satisfactory to the Company, if such documents
are requested by the Company). The Warrantholder, by acceptance hereof, acknowledges that this
Warrant and the Warrant Shares to be issued upon exercise hereof are being acquired solely for the
Warrantholder’s own account and not as a nominee for any other party, and for investment, and that
the Warrantholder will not offer, sell or otherwise dispose of any Warrant Shares to be issued upon
exercise hereof except under circumstances that will not result in a violation of the Securities
Act or any state securities laws. Upon exercise of this Warrant, the Warrantholder shall, if
requested by the Company, confirm in writing, in a form satisfactory to the Company, that the
Warrant Shares so purchased are being acquired solely for the Warrantholder’s own account and not
as a nominee for any other party, for investment, and not with a view toward distribution or
resale. The Warrantholder represents and warrants to the Company that the Warrantholder is an
“accredited investor” as that term is defined in Rule 501(a) of Regulation D promulgated under the
1933 Act. The Warrantholder understands that the Warrant and any Warrant Shares acquired upon
exercise of this Warrant are being offered and sold to the Warrantholder in reliance on specific
exemptions from the registration requirements of the United States federal and state securities
laws and that the Company is relying in part upon the truth and accuracy of, and the
Warrantholder’s compliance with, the representations, warranties, agreements, acknowledgments and
understandings of the Warrantholder set forth herein in order to determine the availability of such
exemptions and the eligibility of the Warrantholder to initially acquire the Warrant Shares.

     2.2 Restrictive Legends. This Warrant shall (and each Warrant issued in substitution for
this Warrant issued pursuant to Section 4 shall) be stamped or otherwise imprinted with a legend in
substantially the following form:

     “THIS WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OF THIS WARRANT HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR APPLICABLE STATE SECURITIES LAWS AND HAVE BEEN ISSUED PURSUANT TO AN
EXEMPTION THEREFROM. EXCEPT AS PERMITTED UNDER APPLICABLE FEDERAL AND STATE
SECURITIES LAWS, THE WARRANT AND ANY SHARES ACQUIRED UPON

-4-

 

THE EXERCISE OF THIS WARRANT MAY
NOT BE SOLD OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, OR AN
OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT
REQUIRED.”

Except as otherwise permitted by this Section 2, each stock certificate for Warrant Shares issued
upon the exercise of any Warrant and each stock certificate issued upon the direct or indirect
transfer of any such Warrant Shares shall be stamped or otherwise imprinted with a legend in
substantially the following form:

     “THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR APPLICABLE STATE
SECURITIES LAWS, AND HAVE BEEN ISSUED PURSUANT TO AN EXEMPTION THEREFROM. EXCEPT AS
PERMITTED UNDER APPLICABLE FEDERAL AND STATE SECURITIES LAWS, THE SHARES MAY NOT BE
SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, OR AN
OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT
REQUIRED.”

     Notwithstanding the foregoing, the Warrantholder may require the Company to issue a stock
certificate for Warrant Shares without a legend if (i) such Warrant Shares, as the case may be,
have been registered for resale under the Securities Act or sold pursuant to Rule 144 under the
Securities Act (or a successor rule thereto) or (ii) the Warrantholder has received an opinion of
counsel reasonably satisfactory to the Company that such registration is not required with respect
to such Warrant Shares. If either condition in the foregoing sentence has been satisfied, the
Company shall, without expense (except for the payment of any applicable transfer tax) and as
expeditiously as possible, issue a new stock certificate not bearing such legend.

     2.3 Freely Tradable Shares. The Company represents and warrants to Warrantholder that from
and after the date of exercise of a portion or all of this Warrant, any Warrant Shares issuable
upon such exercise shall be freely tradable and/or saleable by the Warrantholder under United
States law and the rules and regulations of the New York Stock Exchange, and the Company agrees to
have and maintain an effective registration statement that will allow the resale of the Warrant
Shares by Warrantholder, at any time and from time to time during the Exercise Period.

     2.4 Split-Up, Combination and Exchange of Warrants. This Warrant may be split up, combined or
exchanged for another Warrant or Warrants containing the same terms to purchase a like aggregate
number of Warrant Shares. If the Warrantholder desires to split up, combine or exchange this
Warrant, he or it shall make such request in writing delivered to the Company and shall surrender to the Company this

-5-

 

Warrant and any other Warrants to be so
split-up, combined or exchanged. Upon any such surrender for a split-up, combination or exchange,
the Company shall execute and deliver to the person entitled thereto a Warrant or Warrants, as the
case may be, as so requested. The Company shall not be required to effect any split-up,
combination or exchange which will result in the issuance of a Warrant entitling the Warrantholder
to purchase upon exercise a fraction of an Ordinary Share or a fractional Warrant. The Company may
require such Warrantholder to pay a sum sufficient to cover any tax or governmental charge that may
be imposed in connection with any split-up, combination or exchange of Warrants.

     3. Reservation and Registration of Shares, Etc.

     The Company covenants and agrees that all Warrant Shares which are issuable upon the exercise
of this Warrant will, upon issuance, be validly issued, fully paid and nonassessable and free from
all taxes, liens, security interests, charges and other encumbrances with respect to the issue
thereof, other than taxes in respect of any transfer occurring contemporaneously with such issue.
The Company further covenants and agrees that, during the Exercise Period, the Company will at all
times have authorized and reserved, and keep available free from preemptive rights, a sufficient
number of Ordinary Shares to provide for the exercise of the rights represented by this Warrant and
will, at its expense, upon each such reservation of shares, procure and maintain such listing of
such Ordinary Shares (subject to issuance or notice of issuance) as then may be required on all
stock exchanges on which the Ordinary Shares are then listed or on any equivalent over the counter
market.

     4. Exchange, Loss or Destruction of Warrant.

     Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, of such
bond or indemnification as the Company may reasonably require, and, in the case of such mutilation,
upon surrender and cancellation of this Warrant, the Company will execute and deliver a new Warrant
of like tenor. The term “Warrant” as used in this Agreement shall be deemed to include any
Warrants issued in substitution or exchange for this Warrant.

     5. Ownership of Warrant.

     The Company may deem and treat the person in whose name this Warrant is registered as the
holder and owner hereof (notwithstanding any notations of ownership or writing hereon made by
anyone other than the Company) for all purposes and shall not be affected by any notice to the
contrary.

     6. Certain Adjustments.

     6.1 The number of Warrant Shares purchasable upon the exercise of this Warrant and the
Exercise Price shall be subject to adjustment as follows:

     (a) Stock Dividends. If at any time prior to the exercise of this Warrant in full (i) the
Company shall fix a record date for the issuance of any stock dividend payable in Ordinary Shares
or (ii) the number of Ordinary Shares shall have been increased by a subdivision or
split-up of

-6-

 

Ordinary Shares, then, on the record date fixed for the determination of holders
of Ordinary Shares entitled to receive such dividend or immediately after the effective date of
subdivision or split-up, as the case may be, the number of Ordinary Shares to be delivered upon
exercise of this Warrant will be increased so that the Warrantholder will be entitled to receive
the number of Ordinary Shares that such Warrantholder would have owned immediately following such
action had this Warrant been exercised immediately prior thereto, and the Exercise Price will be
adjusted as provided below in paragraph (f).

     (b) Combination of Stock. If at any time prior to the exercise of this Warrant in full the
number of Ordinary Shares outstanding shall have been decreased by a combination of the outstanding
Ordinary Shares, then, immediately after the effective date of such combination, the number of
Ordinary Shares to be delivered upon exercise of this Warrant will be decreased so that the
Warrantholder thereafter will be entitled to receive the number of Ordinary Shares that such
Warrantholder would have owned immediately following such action had this Warrant been exercised
immediately prior thereto, and the Exercise Price will be adjusted as provided below in paragraph
(f).

     (c) Preservation of Purchase Rights in Certain Transactions. In case of any reclassification,
capital reorganization or other change of outstanding Ordinary Shares (other than a subdivision or
combination of the outstanding Ordinary Shares and other than a change in the par value of the
Ordinary Shares) or in case of any consolidation or merger of the Company with or into another
corporation (other than merger with a subsidiary in which the Company is the continuing corporation
and that does not result in any reclassification, capital reorganization or other change of
outstanding Ordinary Shares of the class issuable upon exercise of this Warrant) or in the case of
any sale, lease, transfer or conveyance to another corporation of the property and assets of the
Company as an entirety or substantially as an entirety, the Company shall, as a condition precedent
to such transaction cause such successor or purchasing corporation, as the case may be, to execute
with the Warrantholder an agreement granting the Warrantholder the right thereafter, upon payment
of the Exercise Price in effect immediately prior to such action, to receive upon exercise of this
Warrant the kind and amount of shares and other securities and property which he would have owned
or have been entitled to receive after the happening of such reclassification, change,
consolidation, merger, sale or conveyance had this Warrant been exercised immediately prior to such
action. In the event that in connection with any such reclassification, capital reorganization,
change, consolidation, merger, sale or conveyance, additional Ordinary Shares shall be issued in
exchange, conversion, substitution or payment, in whole or in part, for, or of, a security of
Company other than Ordinary Shares, any such issue shall be treated as an issue of Ordinary Shares
covered by the provisions of Article 6. The provisions of this Section 6.1 shall similarly apply
to successive reclassifications, capital reorganizations, consolidations, mergers, sales or
conveyances.

     (d) Fractional Shares. No fractional Ordinary Shares or scrip shall be issued to any
Warrantholder in connection with the exercise of this Warrant. Instead of any fractional Ordinary
Shares that would otherwise be issuable to such Warrantholder, the Company will pay to such
Warrantholder a cash adjustment in respect of such fractional interest in an amount equal to that
fractional interest of the fair market value of one Ordinary Share as of the date of exercise.

-7-

 

     (e) Carryover. Notwithstanding any other provision of this Section 6, no adjustment shall be
made to the number of Ordinary Shares to be delivered to the Warrantholder (or to the Exercise
Price) if such adjustment represents less than 1% of the number of shares to be so delivered, but
any lesser adjustment shall be carried forward and shall be made at the time and together with the
next subsequent adjustment which together with any adjustments so carried forward shall amount to
1% or more of the number of shares to be so delivered.

     (f) Exercise Price Adjustment. Whenever the number of Warrant Shares purchasable upon the
exercise of the Warrant is adjusted, as herein provided, the Exercise Price payable upon the
exercise of this Warrant shall be adjusted by multiplying such Exercise Price immediately prior to
such adjustment by a fraction, of which the numerator shall be the number of Warrant Shares
purchasable upon the exercise of the Warrant immediately prior to such adjustment, and of which the
denominator shall be the number of Warrant Shares purchasable immediately thereafter.

     (g) No Duplicate Adjustments. Notwithstanding anything else to the contrary contained herein,
in no event will an adjustment be made under the provisions of this Section 6 to the number of
Warrant Shares issuable upon exercise of this Warrant or the Exercise Price for any event if an
adjustment having substantially the same effect to the Warrantholder as any adjustment that
otherwise would be made under the provisions of this Section 6 is made by the Company for any such
event to the number of Ordinary Shares (or other securities) issuable upon exercise of this
Warrant.

     6.2 No Adjustment for Dividends. Except as provided in Section 6.1, no adjustment in respect
of any dividends shall be made during the term of the Warrant or upon the exercise of this Warrant.

     6.3 Notice of Adjustment. Whenever the number of Warrant Shares or the Exercise Price of such
Warrant Shares is adjusted, as herein provided, the Company shall promptly mail by first class,
postage prepaid, to the Warrantholder, notice of such adjustment or adjustments and a certificate
of the chief financial officer of the Company setting forth the number of Warrant Shares and the
Exercise Price of such Warrant Shares after such adjustment, setting forth a brief statement of the
facts requiring such adjustment and setting forth the computation by which such adjustment was
made.

     7. Notices of Corporate Action.

     In the event of

     (a) any taking by the Company of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any dividend or other
distribution, or any right to subscribe for, purchase or otherwise acquire any shares of stock of
any class or any other securities or property, or to receive any other right, or

     (b) any capital reorganization of the Company, any reclassification or recapitalization of the
capital stock of the Company or any Change of Control,

     or
(c) any voluntary or involuntary dissolution, liquidation or winding-up of the Company,

the
Company will mail to the Warrantholder a notice specifying (i) the date or expected date on
which any such record is to be taken for the purpose of such dividend, distribution or right and
the amount and character of any such dividend, distribution or right, (ii) the date or expected
date on which any such reorganization, reclassification, recapitalization, Change of Control,
dissolution, liquidation or winding-up is to take place and the time, if any such time is to be
fixed, as of which the holders of record of Ordinary Shares (or other securities) shall be entitled
to exchange their Ordinary Shares (or other securities) for the securities or other property
deliverable upon such reorganization, reclassification, recapitalization, Change of Control,
dissolution, liquidation or winding-up and (iii) that in the event of a Change of Control, the
Warrants are exercisable immediately prior to the consummation of such Change of Control. Such
notice shall be mailed at least 20 days prior to the date therein specified, in the case of any
date referred to in the foregoing subdivision (i), and at least 20 days prior to the date therein
specified, in the case of the date referred to in the foregoing subdivision (ii).

-8-

 

     8. Definitions.

     As used herein, unless the context otherwise requires, the following terms have the following
respective meanings:

     Business Day: any day other than a Saturday, Sunday or a day on which national banks are
authorized by law to close in New York, New York.

     Change of Control: shall mean (i) the consolidation of the Company with or merger of the
Company with or into any other person in which the Company is not the surviving corporation, (ii)
the sale or conveyance of all or substantially all of the assets of the Company to any other
person, or (iii) any sale or transfer of any capital stock of the Company after the date of this
Agreement, following which 50% of the combined voting power of the Company becomes beneficially
owned by one person or group acting together. For purposes of this definition, “group” shall have
the meaning as such term is used in Section 13(d)(1) under the Exchange Act.

     Company: Suntech Power Holdings Co., Ltd., a Cayman Islands corporation.

     Exchange Act: the Securities Exchange Act of 1934, as amended, or any successor federal
statute, and the rules and regulations of the SEC thereunder, all as the same shall be in effect at
the time. Reference to a particular section of the Securities Exchange Act of 1934, as amended,
shall include a reference to a comparable section, if any, of any successor federal statute.

     Exercise Form: an Exercise Form in the form annexed hereto as Exhibit A.

     Exercise Price: the meaning specified on the cover of this Warrant, as such price may be
adjusted pursuant to Section 6 hereof.

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     SEC: the Securities and Exchange Commission or any other federal agency at the time
administering the Securities Act or the Exchange Act, whichever is the relevant statute for the
particular purpose.

     Securities Act: the Securities Act of 1933, as amended, or any successor federal statute, and
the rules and regulations of the SEC thereunder, all as the same shall be in effect at the time.
Reference to a particular section of the Securities Act of 1933, as amended, shall include a
reference to the comparable section, if any, of any successor federal statute.

     Trading Day: any day other than a Saturday, Sunday or a day on which securities are not
traded on the principal securities exchange or securities market on which the Ordinary Shares are
traded.

     Warrantholder: the meaning specified on the cover of this Warrant.

     Warrant Market Price: means the fair market value of one Ordinary Share, determined in
accordance with Section 1.2(c) hereof, as of the Trading Day immediately prior to the day on which
the Exercise Form is delivered.

     Warrant Shares: the meaning specified on the cover of this Warrant, subject to the provisions
of Section 6.

     9. Miscellaneous.

     9.1 Entire Agreement. This Warrant constitutes the entire agreement between the Company and
the Warrantholder with respect to this Warrant and the Warrant Shares.

     9.2 Binding Effects; Benefits. This Warrant shall inure to the benefit of and shall be
binding upon the Company and the Warrantholder and their respective successors. Nothing in this
Warrant, expressed or implied, is intended to or shall confer on any person other than the Company
and the Warrantholder, or their respective successors, any rights, remedies, obligations or
liabilities under or by reason of this Warrant.

     9.3 Amendments and Waivers. This Warrant may not be modified or amended except by an
instrument or instruments in writing signed by the Company and the Warrantholder. Either the
Company or the Warrantholder may, by an instrument in writing, waive compliance by the other party
with any term or provision of this Warrant on the part of such other party hereto to be performed
or complied with. The waiver by any such party of a breach of any term or provision of this
Warrant shall not be construed as a waiver of any subsequent breach.

     9.4 Section and Other Headings. The section and other headings contained in this Warrant are
for reference purposes only and shall not be deemed to be a part of this Warrant or to affect the
meaning or interpretation of this Warrant.

     9.5 Further Assurances. Each of the Company and the Warrantholder shall do and perform all
such further acts and things and execute and deliver all such other certificates, instruments and
documents as the Company or the Warrantholder may, at any time and from time to time,

-10-

 

reasonably request in connection with the performance of any of the provisions
of this Agreement.

     9.6 Notices. All notices and other communications required or permitted to be given under
this Warrant shall be in writing and shall be deemed to have been duly given upon personal delivery
to the party to be notified, or when sent by telecopier (with receipt confirmed and promptly
confirmed by personal delivery, first class mail, or courier), or internationally recognized
overnight courier service and addressed as follows (or at such other address as a party may
designate by notice to the other):

     (a) if to the Company, addressed to:

Suntech Power Holdings Co., Ltd.

17-6 Changjiang South Road

New District, Wuxi

Jiangsu Province 214028

People’s Republic of China

Attention: Chief Executive Officer

Tele: 86-510-8534-5000

Fax: 86-510-8534-3049

     (b) if to the Warrantholder, addressed to:

MEMC Electronic Materials, Inc.

501 Pearl Drive (City of O’Fallon)

P.O. Box 8

St. Peters, MO 63376

Attention: Chief Executive Officer

Tele: 636-474-5000

Fax: 636-474-5162

CC: MEMC General Counsel

Except as otherwise provided herein, all such notices and communications shall be deemed to have
been received on the date of delivery thereof, if delivered personally or by overnight courier or
facsimile transmission (if promptly confirmed as stated above), or on the third Business Day after
the mailing thereof.

     9.7 Severability. Any term or provision of this Warrant which is invalid or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity or
unenforceability without rendering invalid or unenforceable the terms and provisions of this
Warrant or affecting the validity or enforceability of any of the terms or provisions of this
Warrant in any other jurisdiction.

     9.8 Governing Law. This Warrant shall be deemed to be a contract made under the laws of the
State of New York (irrespective of its choice of law principles).

-11-

 

     9.9 No Rights or Liabilities as Stockholder. Nothing contained in this Warrant shall be
determined as conferring upon the Warrantholder any rights as a stockholder of the Company or as
imposing any liabilities on the Warrantholder to purchase any securities whether such liabilities
are asserted by the Company or by creditors or stockholders of the Company or otherwise.

     9.10 No Inconsistent Agreements. The Company will not on or after the date of this Warrant
enter into any agreement with respect to its securities which is inconsistent with the rights
granted to the Holders in this Warrant or otherwise conflicts with the provisions hereof. The
rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent
with the rights granted to holders of the Company’s securities under any other agreements.

     9.11 Attorneys’ Fees. In any action or proceeding brought to enforce any provisions of this
Warrant, or where any provision hereof is validly asserted as a defense, the successful party shall
be entitled to recover reasonable attorneys’ fees and disbursements in addition to its costs and
expenses and any other available remedy.

[remainder of page intentionally left blank; signature page follows]

-12-

 

     IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized
officer.

     Dated: July 25, 2006

	 	 	 	 	 
	 	Suntech Power Holdings Co., Ltd.

 	 
	 	By  	/s/ Zhengrong Shi	 
	 	Title  	Chief Executive Officer	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	SIGNATURE PAGE TO WARRANT

 

 

Exhibit A

EXERCISE FORM

(To be executed upon exercise of this Warrant)

To: Suntech Power Holdings Co., Ltd.

     The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant,
to purchase                                          Warrant Shares, and tenders herewith payment of the purchase price
(Exercise Price) in full in the form of (complete as applicable):

	 	o 	 	cash (via wire transfer) or a certified or official bank check, to the order of
Suntech Power Holdings Co., Ltd., in the amount of United States Dollars                                          in
accordance with the terms of this Warrant; and/or
	 
	 	o  	 	forgiveness of accounts receivable of the Company to Warrantholder in the
amount of United States Dollars                                          in accordance with the terms of this
Warrant; and/or
	 
	 	o 	 	tender of this Warrant for such Warrant Shares pursuant to the Net Issue
Exercise provisions of Section 1.2(b) of the Warrant.

The undersigned requests that a certificate (or certificates) for such Warrant Shares be registered
in the name of the undersigned and that such certificate (or certificates) be delivered to the
undersigned’s address below.

     Dated:                                         .

	 	 	 	 	 
	 

	 	Signature	 	 
	 

	 	 	 
	 
	 	 	 	 
	 
	 

	 	 	 
	 

	 	 	(Print Name)
	 
	 	 	 	 
	 

	 	 	 
	 

	 	 	(Street Address)
	 
	 	 	 	 
	 

	 	 	 
	 

	 	 	(City)           
           (State)                   (Zip Code)

     If said number of shares shall not be all the shares purchasable under the within Warrant, a
new Warrant is to be issued in the name of said undersigned for the balance remaining of the shares
purchasable thereunder.

-14-

 

ASSIGNMENT

(To be executed only upon assignment of Warrant)

     For value received,                                                             
 hereby sells, assigns and transfers unto the
Assignee(s) named below the rights represented by such Warrant to purchase number of Warrant Shares
listed opposite the respective name(s) of the Assignee(s) named below and all other rights of the
Warrantholder under the within Warrant, and does hereby irrevocably constitute and appoint                                                              as
attorney, to transfer said Warrant on the books of the
within-named Company with respect to the number of Warrant Shares set forth below, with full power
of substitution in the premises:

	 	 	 	 	 
	Name(s) of	 	 	 	 
	Assignee(s)	 	Address	 	No. of Warrant Shares
	 
	 	 	 	 
	 
	 	 	 	 

And if said number of Warrant Shares shall not be all the Warrant Shares represented by the
Warrant, a new Warrant is to be issued in the name of said undersigned for the balance remaining of
the Warrant Shares registered by said Warrant.

Dated:                   ,      

	 	 	 	 	 
	 	 	 
	 	Signature  	
 	 
	 	Note:  	The above signature should correspond exactly with the name on the face of this Warrant

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