Share Entrustment Agreement Party A: Lian Zheng MinIdentity Card No.: XXXParty B: Dong Xiang JunIdentity Card No.: XXXParty C: Li Xian ShouIdentity Card No.: XXXParty D: Wu Yu CaiIdentity Card No:XXX (The four parties to this agreement are referred to as “party” and collectively “parties”; Party A and Party B are collectively referred to as “effective shareholders”; Party C and Party D are collectively referred to as “entrusted shareholders”): WHEREAS, Part A, Part B, Part C and Part D are shareholders of Zhejiang Yuhuan Solar Energy Source Co., Ltd. (“Yuhuan”), whose party A holds a 23% stake in Yuhuan; Part B holds an 18% stake in Yuhuan; Part C holds a 41% stake in Yuhuan; The D party holds an 18% stake in Yuhuan. Yuhuan currently owns 75% of Zhejiang Yuhui Solar Energy Source Co., Ltd. (“Yuhui”). CONSIDERING that Part C and Part D co-founded ReneSola Limited (“ReneSola”), a legally incorporated limited liability company valid under Cayman Islands laws, and that Part C holds 66% of its shares and part D holds 34% of its shares; Party C and Party D are now proposing to acquire, through ReneSola, all stakes in Yuhui (including Yuhuan`s 75% stake) and to facilitate ReleSola`s listing on the London AIM Exchange. Part A and Part B agree to cooperate with this overseas acquisition and list project. In order to reflect the full contribution of the parties to Yuhuan and Yuhui`s activities and to allow all parties to share the results of this acquisition and listing abroad, all parties will conclude, after friendly negotiations, the following agreement:Section 1 The entrusted shareholders confirm that the effective shareholders are authorized to invest in ReneSola and hold the shares of ReneSola. 1.2The true shareholders accept that they do not actually invest in ReneSola, that they still hold shares of ReneSola, that they entrust to the entrusted shareholders the full power to invest in ReneSola and to hold shares in it in accordance with this agreement, but they are entitled to benefit from the proceeds of the shares entrusted. 1.3The parties confirm that Part A is entitled to 23% of ReneSola`s shares and neighbouring rights and interests; it trusts Party C with the full power to hold such shares.
Part B is entitled to 18% of ReneSola`s shares and related rights and interests; it entrusts Part D with the full power to hold 16% of the shares and gives Part C full power to hold 2% of the shares (the “Entrusted Shares”). 1 Section 2 Fiduciary Period 2.1The trust fund in this agreement begins from the date of the signing of this agreement and ends with the conclusion of the actual shareholders and shareholders intended for the sale of the shares concerned. 2.2 Prior to the listing of ReneSola and subsequently, during the prohibition period prohibiting shareholders or company executives from selling shares they hold, the effective shareholders will not terminate this agreement for any reason and will not request the sale of the shares entrusted. Section 3 Rights and Obligations of Effective Shareholders 3.1 The rights of effective shareholders 3.1.1 , and these revenues are collected first from the entrusted shareholders and then by the actual shareholders after deducting the corresponding expenses and taxes; 3.1.2, in agreement with future shareholders, to the sale of the outstanding shares and the receipt of the proceeds of the transfer of the entrusted shares; 3.1.3 on information on the operation of the shares entrusted, including profits and losses, significant events of changes in operations, etc.