Exhibit 10.15
(Summary Translation)
POLYSILICON SUPPLY COOPERATION AGREEMENT
PARTY A: JIANGXI LDK SOLAR HIGH-TECH CO., LTD.
Address: High-Tech Industrial Park, Xinyu City, Jiangxi Province
Legal Representative: Xxxxxxxx Xxxx
PARTY B: E'MEI SEMI-CONDUCTOR MATERIALS PLANT
Address: Xx. 00 Xxxxx Xxxx, X'xxxxxxx Xxxx, Xxxxxxx Xxxxxxxx
Legal Representative: Xxxxxxxx Xx
E'mei Semi-conductor Materials Plant is currently preparing for the
construction of a 1500-ton solar grade polysilicon manufacturing project, with
its sole investment, which is anticipated to be put into operation at the end of
2008. E'mei Semi-conductor Materials Plant will establish the phase two
1500-ton solar grade polysilicon manufacturing project at an appropriate time.
To take advantage of each other's strengths, jointly prevent market and industry
risks and obtain development advantage, Party A and Party B, after friendly
negotiations and based on the principle of mutual trust and respect, enter into
this long-term strategic cooperation agreement to establish a long-term,
friendly and cooperative relationship:
ARTICLE 1 Party A's Obligation
1. Party A undertakes that it will give priority to using Party B's solar
grade polysilicon feedstock under the same condition, and will expand its
purchasing quantity each year based on Party B's production capacity
expansion.
2. Party A undertakes that starting from 2008, it will purchase solar grade
polysilicon feedstock from Party B with an annual approximate purchasing
quantity of 100 tons, provided that the quality of the polysilicon
feedstock supplied by Party B shall comply with Party A's manufacturing and
technology requirements.
3. Party A undertakes that it will pay 10% of the total purchasing price in
a given year as advance payment for the purchase of solar grade
polysilicon feedstock under this agreement. The specific payment schedule
is as follows:
Renminbi ten million to be paid before September 30, 2007; Renminbi forty
million to be paid before December 31, 2007; Renminbi eighty million to be
paid before June 30, 2008; and Renminbi one hundred and twenty million to
be paid before December 31, 2008. The total amount is Renminbi two hundred
and fifty million, which shall be deducted from the payment for the
products under this agreement.
ARTICLE 2 Party B's Obligation
1. Party B undertakes that starting from 2008, it will supply Party A with
solar grade polysilicon feedstock that is in compliance with the industry
standards, and will satisfy Party A's needs to the extent possible based on
Party B's output capacity expansion.
2. Party B undertakes that starting from 2008, it will supply Party A with
solar grade polysilicon feedstock that is in compliance with the industry
standard. The specific quantity shall be approximately 100 tons in 2008,
500 tons in 2009, 500 tons in 2010, 500 tons in 2011, 500 tons in 2012 and
400 tons in 2013.
3. Party B undertakes that based on this long-term, friendly and cooperative
relationship, it will give Party A preferential prices and will supply
products to Party A at the price it gives to strategic cooperative
partners with reference to the market price set by well-known domestic
solar grade polysilicon feedstock manufacturers.
4. Party B undertakes that the quality of the solar grade polysilicon
feedstock supplied to Party A shall comply with solar grade solar cells'
manufacturing and technology requirements.
5. Party B undertakes that it will give Party A priority to be involved in
Party B's restructuring occurring at the end of 2007 or early 2008. If
Party A becomes Party B's investor, the advance payment for the products
under this agreement will be turned into Party A's capital contribution in
accordance with the relevant state regulations. Specific matters may be
further negotiated.
ARTICLE 3 Both parties agree that each party will keep confidential all
technologies and business information obtained from the other party. A party
shall be entitled to damages for breach against the other party if the violation
by the other party causes any losses to the party. Both parties will provide
their annual financial statements to each other subject to such confidential
undertakings.
ARTICLE 4 The term of both parties' phase one strategic cooperation shall be six
years, commencing on June 1, 2008 through December 31, 2013.
ARTICLE 5 Liability for Breach: This agreement has legally binding effect. Both
parties shall jointly abide by this agreement in good faith. If a party is in
violation of this agreement, the other party is entitled to hold the
breaching party legally liable.
ARTICLE 6 Any dispute in connection with this agreement shall be settled through
friendly consultation between the two parties. If no settlement can be reached
after consultation, such dispute shall be submitted to the court having
jurisdiction over the place where the disputing party is located.
ARTICLE 7 This agreement is executed in two originals. Each party holds one
original. This agreement shall become effective upon signing by both parties.
Party A: Jiangxi LDK Solar Hi-Tech Co., Party B: E'mei Semi-conductor
Ltd. Materials Plant
(Company seal) (Company seal)
Legal Representative (signature): Legal Representative (signature):
/s/ Xxxxxxxx Xxxx /s/ Liangping Deng
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Date: March 28, 2007 Date: March 28, 2007
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