Contract
Exhibit 4.16
Summary English Translation of Amendment dated December 13, 2011, to Investment Agreement dated August 2, 2010, by and among Shanghai Zizhu Science-based Park Development Co., Ltd., BCD (Shanghai) Semiconductor Manufacturing Limited and BCD (Shanghai) Micro-Electronics Ltd.
Party A: Shanghai Zizhu Hi-Tech Zone (Group) Co., Ltd.
Registered Address: 000 Xxxxxxxxx Xxxx, Xxxxxxxx
Legal Representative: Xxx XXXX
Party B: BCD (Shanghai) Microelectronics Ltd.
Registered Address: 1600 Zixing Road, Shanghai
Legal Representative: Jiwei SUN
Date: December 13, 2011
BACKGROUND:
1. Party A and Party B entered into an Investment Agreement on August 2, 2010 (“Investment Agreement”), pursuant to which Party A agrees to bear certain costs for the construction of the power delivery infrastructure to meet Party B’s power requirement (“Facilities Costs”).
2. Party B subsequently paid the Power Company a total of RMB49.584705 million in power engineering costs as estimated by the Power Company, while the Power Company invoiced Party A for the same amount (“Invoice for Engineering Costs”).
AGREEMENT:
1. | Upon completion of the power delivery infrastructure, a duly qualified third-party auditor shall be appointed to audit the engineering costs. Such appointment shall be agreed by both parties. If Party A desires to appoint an auditor not approved by Party B, then Party B shall only bear the auditing costs up to RMB300,000 and Party A shall bear the balance. |
2. | Depending on the final determination of the engineering costs, Party B shall receive a refund of any overpayment or make up any shortfall, and Party B shall work with the Power Company to produce a correct invoice in replacement of the Invoice for Engineering Costs. |
3. | Party A shall work with Party B to determine the amount of the Facilities Costs within 15 working days following the determination of the Engineering Costs. |
4. | Party A shall pay Party B, on or before December 20, 2011 and January 15, 2012, RMB20 million and RMB10 million, respectively, in Facilities Costs. |
5. | Within 15 working days after the parties confirm the final amount of the Facilities Costs in writing, Party A shall refund Party B any overpayment or collect from Party B any shortfall. |