Summary of Guaranty Contract of Maximum Amount (the “Contract”) Entered into by and between
Mr. Li Xiangqian and Longgang Branch, Shenzhen Development Bank (the “Creditor”) on December
3
rd
, 2008
Main contents:
Ø Guaranty Contract number: Shenfa Longgang Ebaozi 20081203001-3;
Ø As guarantor, Mr. Li Xiangqian undertakes to assume joint and several liabilities for Shenzhen
BAK Battery Co., Ltd (the “Obligor”)’s indebtedness towards Shenzhen Development Bank under the
Comprehensive Credit Facility Agreement of Maximum Amount (reference no.: Shenfa Longgang Zongzi
20081203001) from December 8 th , 2008 to December 8 th , 2009, and the maximum amount secured is
RMB150 million.
Ø Guarant y Responsibility : The guaranty under this Contract shall be guaranty with joint and
several liabilities. The guarantor is obligated to pay off the debt in the event the Obligor is unable to pay off
the debt (including the creditor declares the debt becomes mature in advance to its original expiry date due to
default of the Obligor or the guarantor).
Ø S cope of G uaranty: The guaranty shall cover all of the loan principal, interest, penalty
interest, breach of contract compensation, damages, undertaking fee and all the expenses such as litigation
cost, lawyer’s fee, notification cost and public notice cost etc. which is incurred to the Creditor in realizing its
creditor’s right.
Ø Guaranty period: The guaranty period is from the effective date of this Contract to two years
after the expiry of the term of the Credit Facility Agreement and relevant agreement entered into under the
Credit Facility Agreement.
Headlines of the articles omitted:
Ø Termination and explanation
Ø Payment on demand
Ø Declaration and guaranty
Ø Independent guaranty
Ø Fulfillment of the responsibility and giving up of the right
Ø Amendment of the Contract
Ø Effectiveness and Disputation settlement
Ø Contract period
Ø Supplement articles