SUPPLEMENTARY AGREEMENT NO. 10 TO POLYSILICON SUPPLY AGREEMENT
Exhibit 4.11
Translation
SUPPLEMENTARY AGREEMENT NO. 10 TO
POLYSILICON SUPPLY AGREEMENT
Party A’s Agreement No.: SSC00019
Party B’s Agreement No.: TCZ-A1130-0803-CGC-120-7
WHEREAS:
I) Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd. (hereinafter referred to as “Zhongneng”) and Changzhou Xxxxx Solar Energy Co., Ltd. (hereinafter referred to as “Xxxxx”) entered into the Polysilicon Supply Agreement (Zhongneng’s Agreement No.: SSC000119, Trina’s Agreement No.: TCZ-A1130-0803-CGC-120-0) on March 29, 2008; the Supplementary Agreement (1) to the Polysilicon Supply Agreement (Trina’s Agreement No.: SSC000119, Trina’s Agreement No.: TCZ-A1130-0803-CGC-120-0, hereinafter referred to as the “Supplementary Agreement (1)”) on August 19, 2008; the Supplementary Agreement (2) to the Polysilicon Supply Agreement (Zhongneng’s Agreement No.: SSC000119, hereinafter referred to as the “Supplementary Agreement (2)”) on August 24, 2008; the Supplementary Agreement (3) to the Polysilicon Supply Agreement (Zhongneng’s Agreement No.: SSC000119, Trina’s Agreement No.: TCZ-A1130-0803-CGC-120-G, hereinafter referred to as the “Supplementary Agreement (3)”) on October 26, 2009; the Supplementary Agreement (4) to the Polysilicon Supply Agreement (Zhongneng’s Agreement No.: SSC000119, Trina’s Agreement No.: TCZ-A1130-0803-CGC-120-0, hereinafter referred to as the “Supplementary Agreement (4)”) on March 26, 2010; and the Memorandum (1) of the Supplementary Agreement (4) to the Polysilicon Supply Agreement (Zhongneng’s Agreement No.: SSC000119, Trina’s Agreement No.: TCZ-A1130-0803-CGC-120-0, hereinafter referred to as the “Memorandum (1)”), the Memorandum (2) of the Supplementary Agreement (4) to the Polysilicon Supply Agreement (Zhongneng’s Agreement No.: SSC000119, Trina’s Agreement No.: TCZ-A1130-0803-CGC-120-2, hereinafter referred to as the “Memorandum (2)”), the Memorandum (3) of the Supplementary Agreement (4) to the Polysilicon Supply Agreement (Zhongneng’s Agreement No.: SSC000119, Trina’s Agreement No.: TCZ-A1130-0803-CGC-120-3, hereinafter referred to as the “Memorandum (3)”) and the Memorandum (4) of the Supplementary Agreement (4) to the Polysilicon Supply Agreement (Zhongneng’s Agreement No.: SSC000119, Trina’s Agreement No.: TCZ-A1130-0803-CGC-120-4, hereinafter referred to as the “Memorandum (4)”) on April 6, 2010, May 14, 2010, August 6, 2010 and August 30, 2010, respectively; and the Supplementary Agreement (5) to the Polysilicon Supply Agreement on September 29, 2010; the Supplementary Agreement (6) to the Polysilicon Supply Agreement on October 4, 2010; the Supplementary Agreement (7) to the Polysilicon Supply Agreement on October 30, 2010; the Supplementary Agreement (8) to the Polysilicon Supply Agreement on December 30, 2010 (all the contracts, agreements and memoranda described above are referred to collectively as the “Original Agreements”).
II) Under Article 2 of the Supplementary Agreement (8), Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd. transferred all of its rights and obligations under the Original Agreements with respect to all silicon wafer businesses (including all sales businesses of solar-grade polycrystalline silicon wafers and solar-grade monocrystalline silicon wafers under the Original Agreements), and designated Changzhou GCL Photovoltaic Technology Co., Ltd. to carry out the sales business of silicon wafters under the Original Agreements and subsequent agreements pursuant to the requirements of the Original Agreements.
Changzhou Xxxxx Solar Energy Co., Ltd. and Changzhou GCL Photovoltaic Technology Co., Ltd. have made the following supplements to the Original Agreements and the Supplementary Agreements after they fully negotiated on the basis of the principles of equality and willingness:
These Original Agreements and the Supplementary Agreements (hereinafter referred to as “this Agreement”) is made on [December ], 2010 in Changzhou, China by and between the following parties (hereinafter the “Parties”):
Party A: Changzhou GCL Photovoltaic Technology Co., Ltd., whose address is at Xx.0, Xxxxx Xxxx, Xxxxxx Xxxxxxxx, Xxxxxxxxx
Party B: Changzhou Xxxxx Solar Energy Co., Ltd., whose address is at Xx. 0 Xxxxxx Xxxx, Xxxxxx Xxxxxxxx Electronic Industry Park, Changzhou , Jiangsu Province.
Article 1 Definition
Unless otherwise specified herein, the terms used in this Agreement shall have the same meaning as those defined in the Original Agreements:
“Silicon Wafers” shall mean and include solar-grade polycrystalline silicon wafers, solar-grade monocrystalline silicon wafers, as well as the solar-grade polycrystalline silicon ingots and monocrystalline silicon rods required for the production of silicon wafers.
Article 2 Supplementary Requirements
2.1 On the basis of the quantity of supply as agreed in Exhibit (B-3) to the Supplementary Agreement (4) to the Polysilicon Original Agreement and its Supplementary Agreements, Party B confirms that changes need to be done with respect to the quantity of Silicon Wafers to be purchased from Party A starting from (and including) 2011 according to its own production expansion plan (please see Exhibit (C-4) for details), and Party A undertakes that it will supply Silicon Wafers to Party B according to the revised quantity.
2.2 Party B agrees that it will separately accept from Party A Silicon Wafers in the specifications of A grade and 180µm, respectively, on the basis of the specifications of Silicon Wafers as agreed in the Original Agreements and the Supplementary Agreements (please refer to “A-Grade Specification Standards” in Exhibit 2 hereto for the quantity standards of polycrystalline Silicon Wafers, and “180 Specification Standards” in Exhibit 3).
2.3 The advance payment for Silicon Wafers in 2011 shall be RMB [****]† (in words: Renminbi [****]†). Party B shall pay to Party A such advance payment by wire transfer in cash no later than June 30, 2011. The Parties shall separately negotiate the remaining amount of the advance payment. Before any unanimous agreement is made between the Parties, the non-payment of any outstanding amount since January 1, 2009 shall not be deemed as a breach of contract.
2.4 The Parties undertake that:
2.4.1 the supply of Silicon Wafers shall be continued pursuant to the terms and conditions of the Original Agreements and the Supplementary Agreements.
2.4.2 Party A will satisfy the demand of Party B for Silicon Wafers by way of investment in and construction of additional production and auxiliary facilities for Silicon Wafers. It will also supply Silicon Wafers to Party B pursuant to the terms and conditions of the Original Agreements and the Supplementary Agreements even if there is shortage of Silicon Wafers in the market. Save for any reason other than force majeure or any breach of contract by Party B, Party B may require Party A to assume the liabilities for any breach of contract if Party A fails to meet the quantity of supply as agreed in Article 2.1 hereof due to its own fault.
2.4.3 if Party B needs to further purchase any Silicon Wafer other than the quantity of supply as agreed in Article 2.1 above after the execution hereof, Party B shall have the priority right to purchase Silicon Wafers from Party A provided that the same conditions are provided.
2.4.4 Party B undertakes that the quantity of Silicon Wafers purchased from Party A shall not be less than 50% of its total purchases.
2.4.5 Party A undertakes that the average unit price of Silicon Wafer sold to Party B for 2011 shall be less than or equal to Renminbi [****]† a piece (RMB[****]†/pc).
2.4.6 Party A and Party B agree to discuss the price of Silicon Wafers for the second half of 2011 in early May 2011. If no agreement can be reached in respect thereof, the price mechanism agreed in the Original Agreements and the Supplementary Agreements shall continue to be adopted.
2.4.7 The price adjustment provision of this Supplementary Agreement shall continue to be implemented pursuant to the Supplementary Agreement (4).
† This portion of the Supplementary Agreement No. 10 to Polysilicon Supply Agreement has been omitted and filed separately with the Securities and Exchange Commission, pursuant to Rule 24b-2 under the Securities Exchange Act of 1934.
Article 3 Miscellaneous
3.1 This Agreement, which is another Supplementary Agreement to the Original Agreements, will only make supplements or changes to those matters stipulated herein. The other provisions of the Original Agreements and the Supplementary Agreements shall remain to have the original legal effect. In the event of any conflicts between the Original Agreements, the Supplementary Agreements and this Agreement, the document executed at the later time shall prevail.
3.2 Any matters not covered herein, such as confidentiality, governing law and dispute resolution, shall remain to be dealt with pursuant to the Original Agreements and the Supplementary Agreements.
3.3 This Agreement shall become effective once it is signed by the respective legal representatives or authorized representatives of the Parties.
3.4 This Agreement is executed in four originals with each Party holding two originals. Each of them shall have the same legal effect.
Party A: Changzhou GCL Photovoltaic Technology Co., Ltd. (Chop)
Legal representative or authorized representative (Signature): |
|
[Chop of Changzhou GCL Photovoltaic Technology Co., Ltd. is affixed]
/s/ January 11, 2011
Party B: Changzhou Xxxxx Solar Energy Co., Ltd. (Chop)
Legal representative or authorized representative (Signature): |
|
[Chop of Changzhou Xxxxx Solar Energy Co., Ltd. is affixed]
/s/ January 11, 2011
Exhibit 1 |
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List of the Supplementary Agreements |
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1. |
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Supplementary Agreement (1) to the Polysilicon Original Agreement and the Supplementary Agreements signed on August 19, 2008 |
2. |
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Supplementary Agreement (2) to the Polysilicon Original Agreement and the Supplementary Agreements signed on August 24, 2009 |
3. |
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Supplementary Agreement (3) to the Polysilicon Original Agreement and the Supplementary Agreements signed on October 26, 2009 |
4. |
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Supplementary Agreement (4) to the Polysilicon Original Agreement and the Supplementary Agreements signed on March 29, 2010 |
5. |
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Memorandum (1) of the Supplementary Agreement (4) to the Polysilicon Supply Agreement signed on April 6, 2010 |
6. |
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Memorandum (2) of the Supplementary Agreement (4) to the Polysilicon Supply Agreement signed on May 14, 2010 |
7. |
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Memorandum (3) of the Supplementary Agreement (4) to the Polysilicon Supply Agreement signed on August 6, 2010 |
8. |
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Memorandum (4) of the Supplementary Agreement (4) to the Polysilicon Supply Agreement signed on August 30, 2010 |
9. |
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Supplementary Agreement (5) to the Polysilicon Supply Agreement signed on September 29, 2010 |
10. |
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Supplementary Agreement (6) to the Polysilicon Supply Agreement signed on October 14, 2010 |
11. |
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Supplementary Agreement (7) to the Polysilicon Supply Agreement signed on October 30, 2010 |
12. |
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Supplementary Agreement (8) to the Polysilicon Supply Agreement signed on December 30, 2010 |
Exhibit 2: “A-Grade Specification Standards”
[Logo] GCL |
Product Specifications |
Product Name |
156 x 156 Polycrystalline | |||
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Document Name |
Product Specification | ||||
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Geometry |
TTV, Warpage |
Saw Xxxx |
Xxxx Chip | ||
Materials properties |
| |||||
Growth method |
DSS | |||||
Donor type/Dopant |
P/Boron | |||||
Oxygen content |
<1.0 x 1018 atoms/cm3 | |||||
Carbon content |
<8.0 x 1017 atoms/cm3 | |||||
Electrical properties |
| |||||
Resistivity |
0.8 ~ 3 X.xx | |||||
Lifetime |
>2 µs (silicon chunks) | |||||
Geometry |
| |||||
Width |
156 ± 0.5 mm |
|
156 ± 0.5 mm |
| ||
Squareness |
90 ± 0.3° | |||||
Diameter |
219.2 ± 0.6 mm |
|
219.2 ± 0.5 mm |
| ||
Thickness |
180 ± 20 µm, 190 ± 20 µm, 200 ± 20 µm, | |||||
TTV |
<40µm |
<50µm |
<40µm |
<40µm | ||
Saw marks |
<25µm |
<25µm |
<30µm (no color difference) |
<25µm | ||
Edge chip |
Width <0.3 mm, length <0.5 mm; Max. 2 /piece; V-shape chip unacceptable |
0.3 mm< width<0.5 mm, 0.5 mm< length<1 mm; Max 2/piece; V-shape chip unacceptable | ||||
Warpage |
<75µm |
<100µm |
<75µm |
<75µm | ||
Microcrystal |
Single area < 3 x 3 mm2; total area < 3 x 3 cm2 | |||||
Crack, hole |
None | |||||
Surface quality |
No damages on the surface, no stains, no watermark, no spot | |||||
Package & Labels |
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|
|
| ||
Package |
GCL standard package, 100 pcs/package, 300 pcs/box, chip rate during transportation < 3% | |||||
Labels |
P.O. No., Lot No., No. of wafers, Dimension, etc. | |||||
Exhibit 3: “Specification Standards for Polycrystalline Silicon Wafers”
Trinasolar | ||||
Changzhou Xxxxx Solar Energy Co., Ltd. | ||||
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Product Name |
Multi-Crystalline Si Wafer | ||
|
Document Name |
156*156 Multi-Crystalline Wafer | ||
Product Specifications |
Document Number |
PS-WX-W-0004 | ||
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Version Number |
A | ||
Material properties |
|
| ||
Property |
Specification |
Referenced Standard |
Random | |
Crystal Growth Method |
DSS |
|
| |
Donor Type/Dopant |
P/Boron |
ASTM F42 |
| |
Oxygen Content |
< 1 x 1018 atoms/cm3 (head of silicon robs) or pursuant to the specifications of raw materials supplied |
ASTM |
AQL=0.25 | |
Carbon Content |
< 5.0 x 1017 atoms/cm3 (tail of silicon robs) or pursuant to the specifications of raw materials supplied |
ASTM |
| |
Electrical properties |
|
|
| |
Resistivity |
0.5 – 3 ohm-cm |
ASTM F43 |
| |
Lifetime |
>1.0µs, or pursuant to the specifications of raw materials supplied (inspected and tested by sorting machine) |
GB1553-1997 |
AQL=0.25 | |
Geometry | ||||
Geometry
|
Square |
|
| |
Dimensions (WxW) |
156.0 x 156.0 (±0.5) mm |
|
| |
Right Angle |
90 ± 0.3° |
|
| |
|
1) Hypotenuse 0.5 – 2.0 mm (reference) |
|
| |
Chamfer Size |
2) Cahtetus 0.35 – 1.42 mm (reference) |
|
| |
|
3) Chamfer angle 45° (reference) |
|
| |
Thickness |
180/190/200µm (average value), specification ± 20µm, or pursuant to the specifications of raw materials supplied |
ASTM Q/320411 AFY03-2006 |
| |
Blade wafer |
Not acceptable (a blade wafer is called if the thickness of its edge at 2 mm exceeds the requirement) |
|
| |
TTV |
< 40µm |
ASTM F533, |
| |
Saw marks |
1) Depth < 20µm (the difference between the highest and lowest points of Rt); |
|
AQL=1.0 | |
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2) Saw marks of no color difference and saw marks on the edge; |
|
| |
Surface quality |
Cleaned, no grease stains, inclusion or pin hole |
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| |
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1) Width of edge chip < 0.5 mm, length < 1.0 mm; quantity < 2; |
|
| |
Edge Chip |
2) No V-shape chip, crack and corner missing; width < 0.5 mm, length < 1.0 mm; count < 2; |
|
| |
Surface Chip |
Depth < 0.5 mm, length < 3.0 mm |
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| |
Warpage |
< 75µm |
ASTM |
| |
|
|
6620- |
| ||||
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|
1995; Q/320411 |
| ||||
Microcrystal |
Single area < 3*3 mm2, total area < 3*3 cm2 |
|
| ||||
Package & Labels |
|
|
| ||||
Package |
Xxxxx Standard, 100 pcs/package; |
|
| ||||
Labels |
Part No., P.O. No., Lot No., No of wafers, Dimension |
| |||||
Additional Note: In the event of any discrepancy between all the product specifications and the agreement, the agreement shall prevail. | |||||||
Originator |
Review |
Approval | |||||
Signature: |
Date: |
Signature: |
Date: |
Signature: |
Date: | ||
Notes: 1. Defective rate < 0.3%; 2. Trial production of 2,000 pcs per batch, defective rate of electric property of battery < 0.5%. page 1/1 | |||||||
Exhibit (C-4)
Production Expansion Plan
2011 |
|
Jan |
|
Feb |
|
Mar |
|
Apr |
|
May |
|
Jun |
|
Jul |
|
Aug |
|
Sept |
|
Oct |
|
Nov |
|
Dec |
|
Sub- |
|
Polycrystalline Silicon Wafers (Ten Thousand Pieces) |
|
850 |
|
800 |
|
850 |
|
900 |
|
900 |
|
1,080 |
|
1,440 |
|
1,440 |
|
1,440 |
|
1,530 |
|
1,530 |
|
1,530 |
|
14,290 |
|
Unit Price (Yuan/Piece) |
|
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
|
|
A- Polycrystalline Silicon Wafers (Ten Thousand Pieces) |
|
150 |
|
100 |
|
150 |
|
100 |
|
100 |
|
120 |
|
160 |
|
160 |
|
160 |
|
170 |
|
170 |
|
170 |
|
1,710 |
|
Unit Price (Yuan/Piece) |
|
[**** |
]† |
[**** |
]† |
[**** |
]† |
The price for Q2 will be negotiated in mid- March |
|
The price for the second half of 2011 will be negotiated in mid-May |
| ||||||||||||||||
Quantity (MW) |
|
39.2 |
|
35.28 |
|
39.2 |
|
39.2 |
|
39.2 |
|
47.04 |
|
62.72 |
|
62.72 |
|
62.72 |
|
66.64 |
|
66.64 |
|
66.64 |
|
627.2 |
|
Total (Ten Thousand Pieces) |
|
1,000 |
|
900 |
|
1,000 |
|
1,000 |
|
1,000 |
|
1,200 |
|
1,600 |
|
1,600 |
|
1,600 |
|
1,700 |
|
1,700 |
|
1,700 |
|
16,000 |
|
Total (Ten Thousand Yuan) |
|
[**** |
]† |
[**** |
]† |
[**** |
]† |
N/A |
|
† This portion of the Supplementary Agreement No. 10 to Polysilicon Supply Agreement has been omitted and filed separately with the Securities and Exchange Commission, pursuant to Rule 24b-2 under the Securities Exchange Act of 1934.
Revised Quantity and Price for Purchase from 2011 to 2015
Year |
|
2011 |
|
2012 |
|
2013 |
|
2014 |
|
2015 |
|
Total |
|
Quantity of Polycrystalline Silicon Wafers (MW) |
|
627 |
|
980 |
|
1,470 |
|
1,960 |
|
2,450 |
|
7,487 |
|
Quantity of Polycrystalline Silicon Wafers (Ten Thousand Pieces) |
|
16,000 |
|
25,000 |
|
37,500 |
|
50,000 |
|
62,500 |
|
191,000 |
|
Unit (Yuan/Piece) |
|
[****]† |
|
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
|
|
Total Amount (Ten Thousand Yuan) |
|
To be confirmed after the negotiation of price in March and May 2011 |
|
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
|
|
Plan for Additional Supply from 2016 to 2020
Year |
|
2016 |
|
2017 |
|
2018 |
|
2019 |
|
2020 |
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Total |
|
Quantity of Polycrystalline Silicon Wafers (MW) |
|
2,450 |
|
2, 450 |
|
2,450 |
|
2, 450 |
|
2,450 |
|
12,250 |
|
Quantity of Polycrystalline Silicon Wafers (Ten Thousand Pieces) |
|
62,500 |
|
62,500 |
|
62,500 |
|
62,500 |
|
62,500 |
|
312,500 |
|
Unit (Yuan/Piece) |
|
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
|
|
Total Amount (Ten Thousand Yuan) |
|
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
[**** |
]† |
† This portion of the Supplementary Agreement No. 10 to Polysilicon Supply Agreement has been omitted and filed separately with the Securities and Exchange Commission, pursuant to Rule 24b-2 under the Securities Exchange Act of 1934.